)RUP 1R DQG %ODGH &XWWLQJ 8QLW 5HHOPDVWHUÇ 6HULHV 0RGHO 1R ³ DQG 8S 0RGHO 1R ³ DQG 8S 0RGHO 1R ³ DQG 8S 0RGHO 1R ³ DQG 8S 2SHUDWRU·V 0DQXDO (QJOLVK (1
&RQWHQWV ,QWURGXFWLRQ 3DJH ,QWURGXFWLRQ 6DIHW\ 6DIHW\ DQG ,QVWUXFWLRQ 'HFDOV 6SHFLILFDWLRQV *HQHUDO 6SHFLILFDWLRQV 2SWLRQDO (TXLSPHQW 6HW 8S
6DIHW\ 6DIHW\ DQG ,QVWUXFWLRQ 'HFDOV 6DIHW\ GHFDOV DQG LQVWUXFWLRQV DUH HDVLO\ YLVLEOH WR WKH RSHUDWRU DQG DUH ORFDWHG QHDU DQ\ DUHD RI SRWHQWLDO GDQJHU 5HSODFH DQ\ GHFDO WKDW LV GDPDJHG RU ORVW 3DUW 1R 3DUW 1R IRU &( 'DQJHU³UHDG DQG &XWWLQJ KD]DUG RI KDQGV RU XQGHUVWDQG WKH RSHUDWRU·V IHHW³VWRS WKH HQJLQH PDQXDO EHIRUH SHUIRUPLQJ EHIRUH DSSURDFKLQJ UHHO DQ\ PDLQWHQDQFH DUHD 6SHFLILFDWLRQV *HQHUDO 6SHFLILFDWLRQV +HLJKW RI FXW WR LQ PP WR PP WR
2SWLRQDO (TXLSPHQW %DVNHW .LW LQ 0RGHO 1R +LJK +HLJKW RI &XW .LW LQ LQ 3DUW 1R µ :LHKOH 5ROOHU .LW LQ 0RGHO 1R µ :LHKOH 5ROOHU .LW LQ 0RGHO 1R :LHKOH 5ROOHU .LW LQ 0RGHO 1R :LHKOH 5ROOHU .LW LQ 0RGHO 1R )XOO 5ROOHU .LW LQ 0RGHO 1R )XOO 5ROOHU .LW LQ 0RGHO 1R 6HFWLRQDO 5ROOHU .LW LQ 0RGHO 1R 6HFWLRQDO 5ROOHU .LW LQ 0RGHO 1R $QWL 6FDOS 5ROOHU .
0RXQWLQJ WKH )URQW 5ROOHU $GMXVWLQJ )URQW 6KLHOG 5HPRYH ORFNQXWV VHFXULQJ HDFK DQJOH EUDFNHW WR FXWWLQJ XQLW )LJ 7KH IURQW VKLHOG LV VKLSSHG IURP WKH IDFWRU\ UDLVHG DW DSSUR[LPDWHO\ D GHJUHH DQJOH 7KH VKLHOG FDQ EH DGMXVWHG IRU GHVLUHG JUDVV FOLSSLQJV GLVSHUVLRQ 3RVLWLRQ FXWWLQJ XQLW RQ D IODW OHYHO VXUIDFH /RRVHQ SLYRW VFUHZ VHFXULQJ VKLHOG WR VLGH SODWH 0RYH VKLHOG WR GHVLUHG DQJOH DQG WLJKWHQ VFUHZ )LJ 1RWH 7R VHFXUH VKLHOG LQ GRZQ SRVLWLRQ XVH PRXQWLQJ VFUHZV WKUHDGH
7LJKWHQ ORFNQXWV WR LQ OE DQG YHULI\ DGMXVWPHQW 2Q 5HHOPDVWHU ' FXWWLQJ XQLWV LQVWDOO FRXQWHU ZHLJKWV WR DSSURSULDWH HQGV RI FXWWLQJ XQLWV OHIW VLGH RI FHQWHU DQG IURQW OHIW FXWWLQJ XQLWV DQG ULJKW VLGH RI IURQW ULJKW FXWWLQJ XQLW 2Q 5HHOPDVWHU FXWWLQJ XQLWV LQVWDOO FRYHUV WR DSSURSULDWH HQGV RI FXWWLQJ XQLWV FRYHUV PRXQWHG WR OHIW VLGH RI FHQWHU DQG IURQW OHIW FXWWLQJ XQLWV DQG ULJKW VLGH RI IURQW ULJKW FXWWLQJ XQLW 6HWWLQJ +HLJKW RI &XW DQG /HYHOLQJ 5HDU 5ROOHU )LJX
WKLFN EDU LV UHFRPPHQGHG )RU KHLJKW RI FXWV DERYH LQ PP D LQ PP WKLFN EDU LV UHFRPPHQGHG 5HPRYH KDLUSLQ FRWWHUV VHFXULQJ IURQW KHLJKW RI FXW SLQV DQG UHLQVWDOO LQ WKH GHVLUHG VHWWLQJ DV LQGLFDWHG RQ WKH IURQW KHLJKW RI FXW SODWH 1RWH 7KH EDU WKLFNQHVV GRHV QRW DIIHFW DGMXVWPHQW 7KH UHFRPPHQGHG EDUV NHHS WKH FXWWLQJ XQLW PRUH EDODQFHG GXULQJ DGMXVWPHQW 0DNH VXUH WKH EDU FRYHUV WKH IXOO OHQJWK RI WKH UHHO EODGHV DQG WKH RXWHUPRVW FRQWDFW SRLQWV EHWZHHQ WKH UHHO DQG EDU DUH HTXDO GLV
&KDQJLQJ +HLJKW RI &XW &XWWLQJ 8QLW $WWLWXGH &XWWLQJ XQLW DWWLWXGH UHIHUV WR WKH SRVLWLRQ RI WKH FXWWLQJ HGJH RI WKH EHGNQLIH EHKLQG WKH FHQWHU OLQH RI WKH UHHO ERWWRP GHDG FHQWHU )LJ 7KLV FDQ EH YDULHG E\ FKDQJLQJ WKH SRVLWLRQ RI WKH IURQW DQG UHDU UROOHUV DW D JLYHQ KHLJKW RI FXW 7KLV SURFHGXUH GHVFULEHV KRZ WR FKDQJH WKH KHLJKW RI FXW DIWHU D FXWWLQJ XQLW KDV EHHQ VHW XS DV GHVFULEHG LQ 6HWXS SDJH 7KH KHLJKW RI FXW FDQ EH FKDQJHG ZLWK WKH FXWWLQJ XQLWV RQ RU RII WKH WUDFWLRQ XQLW 5HSRVL
&KHFNLQJ $GMXVWLQJ WKH &XWWLQJ 8QLW $WWLWXGH 3ODFH WKH JDXJH EDU DFURVV WKH IURQW DQG UHDU UROOHUV 7KH ILUVW VFUHZ KHDG QHHGV WR ILW VQXJO\ RYHU WKH HGJH RI WKH EHGNQLIH ZKLOH WKH JDXJH EDU FRQWDFWV WKH UROOHUV )LJ )RU VHWWLQJ FRQVLVWHQW FXWWLQJ XQLW DWWLWXGH 7RUR VWURQJO\ UHFRPPHQGV XVLQJ D WZR VFUHZ JDXJH EDU 7RUR SDUW QR )LJ 7KH ILUVW VFUHZ LV VHW IRU KHLJKW RI FXW DQG WKH VHFRQG VFUHZ LV VHW IRU FXWWLQJ XQLW DWWLWXGH 7KH VHFRQG VFUHZ VHWWLQJ LV DQ HDV\ PHWKRG RI WUDQVIHUUL
2SHUDWLRQ /XEULFDWLRQ 1RWH 'HWHUPLQH WKH OHIW DQG ULJKW VLGHV RI WKH PDFKLQH IURP WKH QRUPDO RSHUDWLQJ SRVLWLRQ (DFK FXWWLQJ XQLW KDV JUHDVH ILWWLQJV ZLWK RSWLRQDO IURQW UROOHU LQVWDOOHG WKDW PXVW EH OXEULFDWHG UHJXODUO\ ZLWK 1R *HQHUDO 3XUSRVH /LWKLXP %DVH *UHDVH &XWWLQJ 8QLW &KDUDFWHULVWLFV 7KH JUHDVH ILWWLQJ ORFDWLRQV DQG TXDQWLWLHV DUH %HGNQLIH DGMXVWHU HYHU\ KRXUV )LJ 5HHO EHDULQJV DQG IURQW DQG UHDU UROOHUV HD )LJ 7KH VLQJOH NQRE EHGNQLIH WR UHHO DGMXVWPHQW V\VWH
%DFNODSSLQJ 63$ 6LQJOH 3RLQW $GMXVWPHQW 6SULQJ $GMXVWPHQW 'DQJHU ,I VLQJOH SRLQW DGMXVWPHQW DVVHPEO\ )LJ LV UHPRYHG IRU VHUYLFLQJ PDNH VXUH VSULQJ LV FRPSUHVVHG EHWZHHQ ZDVKHUV WR D OHQJWK RI µ PP 7KLV DGMXVWPHQW LV DWWDLQHG E\ WLJKWHQLQJ QXW RQ 63$ NQRE VKDIW :KLOH EDFNODSSLQJ UHHOV PD\ VWDOO DQG WKHQ QRW UHVWDUW &RQWDFW ZLWK WKH UHHO EODGHV FDQ FDXVH SHUVRQDO LQMXU\ RU GHDWK 1RWH 63$ DVVHPEO\ KDV OHIW KDQGHG WKUHDGV 1HYHU SODFH KDQGV RU IHHW LQ UHHO DUHD ZKLOH HQJLQH LV UXQQLQ
7KH 7RUR *HQHUDO &RPPHUFLDO 3URGXFWV :DUUDQW\ $ 7ZR