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,=-$9$26./$'1267,

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NDNUãQHJD NROL HOHNWULþQHJD DSDUDWD PRUDWH XSRãWHYDWL QDVOHGQMD

RVQRYQDYDUQRVWQDSUDYLOD

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9$512671,1$327.,

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1HGRWLNDMWHVHDSDUDWDþHLPDWHYODåQHURNHDOLQRJH

1HGRWLNDMWHVHDSDUDWDþHVWHERVL

3ULNOMXþLWHY DSDUDWD QD HOHNWULþQR RPUHåMH SUHNR DGDSWHUMHY

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QHXSRUDEOMDMWHQDSUHM

 ýH VH SRãNRGXMH SULNOMXþQL NDEHO JD PRUDWH WDNRM ]DPHQMDWL

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320(0%1,1$327.,

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DSDUDWD

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6,

.25,671,1$69(7,

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Ɇɨɧɬɢɪɚɧɟɧɚɮɭɪɧɚɜɤɭɯɧɹɬɚ

ȼɚɠɧɨ

ɋɜɴɪɡɜɚɧɟɤɴɦɡɚɯɪɚɧɜɚɧɟɬɨ

Ɉɛɨɪɭɞɜɚɧɟɡɚɮɭɪɧɚɜɡɚɜɢɫɢɦɨɫɬ

ɨɬɦɨɞɟɥɚ

ɋɢɫɬɟɦɚɡɚɛɟɡɨɩɚɫɬɧɨɫɬɧɚɪɚɮɬɨɜɟɬɟ

Ƚɪɢɥ

ɉɨɱɢɫɬɜɚɧɟɢɩɨɞɞɪɴɠɤɚ

ɋɟɪɜɢɡɟɧɰɟɧɬɴɪ

ɉɨɥɟɡɧɢɫɴɜɟɬɢ



ɂɡɩɨɥɡɜɚɧɟɧɚɚɧɚɥɨɝɨɜɱɚɫɨɜɧɢɤ

ɩɪɨɝɪɚɦɚɬɨɪ



Ɉɛɳɢɢɧɫɬɪɭɤɰɢɢɡɚɟɤɫɩɥɨɚɬɚɰɢɹ

ɇɚɫɬɪɨɣɤɚɧɚɱɚɫɚɬɟɤɭɳɱɚɫ

Ƚɨɬɜɟɧɚɧɚɯɪɚɧɚɜɪɴɱɟɧɪɟɠɢɦ

ɉɪɨɝɪɚɦɢɪɚɧɟɧɚɫɢɝɧɚɥɢɡɢɪɚɳɨɬɨ

ɭɫɬɪɨɣɫɬɜɨɬɚɣɦɟɪ

ɉɪɢɝɨɬɜɹɧɟɧɚɯɪɚɧɚɜɩɨɥɭɚɜɬɨɦɚɬɢɱɟɧ

ɪɟɠɢɦɢɡɤɥɸɱɜɚɧɟɧɚɮɭɪɧɚɬɚɩɪɢ

ɞɨɫɬɢɝɚɧɟɧɚɜɪɟɦɟɬɨɡɚɤɪɚɣɧɚ

ɩɪɢɝɨɬɜɹɧɟɬɨɧɚɯɪɚɧɚ

ɉɪɢɝɨɬɜɹɧɟɧɚɯɪɚɧɚɜɢɡɰɹɥɨɚɜɬɨɦɚɬɢɱɟɧ

ɪɟɠɢɦ

ɂɧɞɢɤɚɰɢɹɡɚɧɚɪɭɲɟɧɨɩɨɞɚɜɚɧɟɧɚ

ɡɚɯɪɚɧɜɚɳɨɧɚɩɪɟɠɟɧɢɟɞɨɩɴɥɧɢɬɟɥɧɨ

ɂɡɩɨɥɡɜɚɧɟɧɚɬɚɣɦɟɪɚɡɚɤɪɚɣɧɚ

ɝɨɬɜɟɧɟɬɨ



ɂɧɫɬɪɭɤɰɢɢɡɚɪɚɛɨɬɚ



ȻȽ

ȻȽ

 ɉɊȿȾɍɉɊȿɀȾȿɇɂȿȻɢɬɨɜɢɹɬɟɥɟɤɬɪɨɭɪɟɞɢɧɟɝɨɜɢɬɟɨɬɤɪɢɬɢɱɚɫɬɢɩɨɜɪɟɦɟɧɚɪɚɛɨɬɚ

ɦɨɝɚɬɞɚɫɟɧɚɝɪɟɹɬɞɨɜɢɫɨɤɚɬɟɦɩɟɪɚɬɭɪɚȻɴɞɟɬɟɜɧɢɦɚɬɟɥɧɢɢɧɟɫɟɞɨɤɨɫɜɚɣɬɟɞɨɬɹɯ

 Ⱦɟɰɚɧɚɜɴɡɪɚɫɬɩɨɞɝɨɞɢɧɢɧɟɬɪɹɛɜɚɞɚɫɟɩɪɢɛɥɢɠɚɜɚɬɞɨɭɪɟɞɚɛɟɡɪɨɞɢɬɟɥɫɤɢɧɚɞɡɨɪ

 Ɍɨɡɢɛɢɬɨɜɟɥɟɤɪɨɭɪɟɞɦɨɠɟɞɚɫɟɢɡɩɨɥɡɜɚɨɬɞɟɰɚɩ ɨɝɨɥɟɦɢ ɨɬɝɨɞɢɧɢɚɫɴɳɨɢRɬɯɨɪɚɫ

ɧɚɪɭɲɟɧɢɭɦɫɬɜɟɧɢɢɥɢɮɢɡɢɱɟɫɤɢɜɴɡɦɨɠɧɨɫɬɢɢɥɢɛɟɡɧɟɨɛɯɨɞɢɦɢɹɬɨɩɢɬɫɚɦɨɤɨɝɚɬɨɫɚɩɨɞ

ɧɚɛɥɸɞɟɧɢɟɢɫɚɢɧɫɬɪɭɤɬɢɪɚɧɢɨɬɧɨɫɧɨɛɟɡɨɩɚɫɧɨɬɨɢɡɩɨɥɡɜɚɧɟɧɚɭɪɟɞɚɢɡɧɚɹɬɡɚ

ɫɴɳɟɫɬɜɭɜɚɳɢɬɟɨɩɚɫɧɨɫɬɢ

 ɇɟɪɚɡɪɟɲɚɜɚɣɬɟɧɚɞɟɰɚɞɚɢɝɪɚɹɬ

ɫɮɭɪɧɚɬɚ



ɉɨɱɢɫɬɜɚɧɟɬɨɢɨɛɫɥɭɠɜɚɧɟɧɚɛɢɬɨɜɢɹɬɭɪɟɞɧɟɬɪɹɛɜɚɞɚɫɟɢɡɜɴɪɲɜɚɨɬɞɟɰɚɛɟɡɧɚɞɡɨɪ

ɜɴɡɪɚɫɬɧɢ

ȻɢɬɨɜɢɹɬɭɪɟɞɩɨɜɪɟɦɟɧɚɫɜɨɹɬɚɪɚɛɨɬɚɫɟɧɚɝɪɹɜɚɞɨɜɢɫɨɤɚɬɟɦɩɟɪɚɬɭɪɚȻɴɞɟɬɟ

ɜɧɢɦɚɬɟɥɧɢɢɧɟɞɨɤɨɫɜɚɣɬɟɧɚɝɪɟɜɚɬɟɥɧɢɬɟɟɥɟɦɟɧɬɢɪɚɡɩɨɥɨɠɟɧɢɜɴɜɜɴɬɪɟɲɧɨɫɬɬɚɧɚ

ɮɭɪɧɚɬɚ

ɉɊȿȾɍɉɊȿɀȾȿɇɂȿ Ȼɢɬɨɜɢɹɬɟɥɟɤɬɪɨɭɪɟɞɢɧɟɝɨɜɢɬɟɨɬɤɪɢɬɢɱɚɫɬɢɩɨɜɪɟɦɟɧɚɪɚɛɨɬɚ

ɦɨɝɚɬɞɚɫɟɧɚɝɪɟɹɬɚɞɨɜɢɫɨɤɚɬɟɦɩɟɪɚɬɭɪɚɇɟɪɚɡɪɟɲɚɜɚɣɬɟɞɨɧɟɝɨɞɚɫɟɞɨɤɨɫɜɚɬɦɚɥɤɢ

ɞɟɰɚ

 ɇɟɢɡɩɨɥɡɜɚɣɬɟɡ ɚɩɨɱɢɫɬɜɚɧɟɧɚɫɬɴɤɥɟɧɚɬɚɩɨɜɴɪɯɧɨɫɬɧɚɜɪɚɬɚɬɚɚɛɪɚɡɢɜɧɢɩɨɱɢɫɬɜɚɳɢ

ɩɪɟɩɚɪɚɬɢɢɝɴɛɢɫɦɟɬɚɥɧɢɱɚɫɬɢɰɢɢɥɢɫɬɴɪɝɚɥɤɢɌɟɦɨɝɚɬɞɚɧɚɞɪɚɫɤɚɬɩɨɜɴɪɯɧɨɫɬɬɚɤɨɟɬɨ 

ɞɚɞɨɜɟɞɟɞɨɧɚɩɭɤɜɚɧɟɢɥɢɞɨɪɢɫɱɭɩɜɚɧɟɧɚɫɬɴɤɥɨɬɨ

 ɉɪɟɞɢɞɚɩɨɱɢɫɬɢɬɟɮɭɪɧɚɬɚɬɪɹɛɜɚɞɚɦɚɯɧɟɬɟɪɟɲɟɬɤɚɬɚɩɪɢɡɚɞɴɥɠɢɬɟɥɧɨɢɡɤɥɸɱɟɧɭɪɟɞ

ɋɥɟɞɩɨɱɢɫɬɜɚɧɟɬɨɩɨɫɬɚɜɟɬɟɨɬɧɨɜɨɪɟɲɟɬɤɚɬɚɩɨɧɚɱɢɧɚɨɩɢɫɚɧɜɢɧɫɬɪɭɤɰɢɢɬɟ

 ɂɡɩɨɥɡɜɚɣɬɟɫɚɦɨɬɚɤɴɜɬɟɦɩɟɪɚɬɭɪɟɧɞɚɬɱɢɤɤɚɤɴɜɬɨɟɩɪɟɩɨɪɴɱɚɧɨɬɩɪɨɢɡɜɨɞɢɬɟɥɹ

ɇɟɢɡɩɨɥɡɜɚɣɬɟɩɚɪɨɱɢɫɬɚɱɤɚɩɪɢɩɨɱɢɫɬɜɚɧɟɧɚɭɪɟɞɚ

ɉɊȿȾɍɉɊȿɀȾȿɇɂȿɁɚɞɚɢɡɛɟɝɧɟɬɟɬɨɤɨɜɭɞɚɪɩɪɟɞɢɡɚɦɹɧɚɧɚɨɫɜɟɬɢɬɟɥɧɨɬɨɬɹɥɨɫɟ

ɭɜɟɪɟɬɟɱɟɭɪɟɞɴɬɟɢɡɤɥɸɱɟɧɨɬɟɥɡɚɯɪɚɧɜɚɧɟɬɨ

 ȿɥɟɤɬɪɢɱɟɫɤɨɬɨɜɤɥɸɱɜɚɧɟɧɚɛɢɬɨɜɢɹɬɩɪɢɛɨɪɬɪɹɛɜɚɞɚɫɟɢɡɜɴɪɲɢ

ɫɢɡɩɨɥɡɜɚɧɟɧɚ

ɩɪɟɞɩɚɡɢɬɟɥɫɩɨɪɟɞɞɟɣɫɬɜɚɳɢɬɟɩɪɚɜɢɥɚɢɧɨɪɦɢɡɚɟɥɟɤɬɪɨɛɟɡɨɩɚɫɧɨɫɬ

 ȼɢɧɫɬɪɭɤɰɢɢɬɟɬɪɹɛɜɚɞɚɟɭɤɚɡɚɧɜɢɞɚɧɚɡɚɯɪɚɧɜɚɳɢɹɬɤɚɛɟɥɌɪɹɛɜɚɞɚɫɟɨɬɱɟɬɟɢ

ɬɟɦɩɟɪɚɬɭɪɚɬɚɧɚɡɚɞɧɚɬɚɩɨɜɴɪɯɧɨɫɬɧɚɭɪɟɞɚ

 ȼɫɥɭɱɚɣɧɚɩɨɜɪɟɞɚɧɚɡɚɯɪɚɧɜɚɳɢɹɬɤɚɛɟɥɬɨɣɬɪɹɛɜɚɞɚɛɴɞɟɡɚɦɟɧɟɧɫɴɫɫɩɟɰɢɚɥɟɧ

ɡɚɯɪɚɧɜɚɳɤɚɛɟɥɡɚɤɭɩɟɧɨɬɩɪɨɢɡɜɨɞɢɬɟɥɹɢɥɢɨɬɨɪɢɡɢɪɚɧɢɹɬɫɟɪɜɢɡ

ȼɇɂɆȺɇɂȿɁɚɞɚɫɟɢɡɛɟɝɧɟɨɩɚɫɧɨɫɬɬɚɫɜɴɪɡɚɧɚɫɴɫɫɥɭɱɚɣɧɨɡɚɞɟɣɫɬɜɚɧɟɧɚɭɪɟɞɚɬɨɬɨɣ

ɧɟɬɪɹɛɜɚɞɚɫɟɜɤɥɸɱɜɚɩɪɟɡɜɴɧɲɧɢɭɩɪɚɜɥɹɜɚɳɢɭɫɬɪɨɣɫɬɜɚɤɚɬɨɬɚɣɦɟɪɢɥɢɩɪɨɝɪɚɦɚɬɨɪ

ɫɥɭɠɟɳɡɚɜɤɥɸɱɜɚɧɟɢɢɡɤɥɸɱɜɚɧɟɧɚɟɥɭɪɟɞɢ

ȼɇɂɆȺɇɂȿ ɉɪɢɢɡɩɨɥɡɜɚɧɟɧɚɝɪɢɥɜɴɧɲɧɢɬɟɞɟɬɚɣɥɢɦɨɝɚɬɞɚɫɟɧɚɝɪɟɹɬɞɨɜɢɫɨɤɚ

ɬɟɦɩɟɪɚɬɭɪɚɇɟɪɚɡɪɟɲɚɜɚɣɬɟɧɚɞɟɰɚɞɚɫɟɞɨɛɥɢɠɚɜɚɬɞɨɮɭɪɧɚɬɚ

 ɩɪɟɞɢɩɨɱɢɫɬɜɚɧɟɬɪɹɛɜɚɞɚɩɪɟɦɚɯɧɟɬɟɚɤɨɢɦɚɪɚɡɥɹɬɚ

 ɉɨɜɪɟɦɟɧɚɩɢɪɨɥɢɬɢɱɧɨɩɨɱɢɫɬɜɚɧɟɩɨɜɴɪɯɧɨɫɬɢɬɟɦɨɝɚɬɞɚɫɟɧɚɝɪɟɹɬɩɨɫɢɥɧɨɨɬ

ɨɛɢɤɧɨɜɟɧɨɇɟɪɚɡɪɟɲɚɜɚɣɬɟɧɚɞɟɰɚɞɚɫɟɞɨɛɥɢɠɚɜɚɬɞɨɮɭɪɧɚɬɚ

ɌȿɏɇɂɄȺɇȺȻȿɁɈɉȺɋɇɈɋɌ

ɌɨɡɢɭɪɟɞɟɦɚɪɤɢɪɚɧɫɴɝɥɚɫɧɨɟɜɪɨɩɟɣɫɤɚȾɢɪɟɤɬɢɜɚ(ɈɡɚɈɬɩɚɞɴɰɢɨɬɟɥɟɤɬɪɢɱɟɫɤɨɢɟɥɟɤɬɪɨɧɧɨɨɛɨɪɭɞɜɚɧɟ:(((:(((

ɫɴɞɴɪɠɚɟɞɧɨɜɪɟɦɟɧɧɨɡɚɦɴɪɫɹɜɚɳɢ ɫɭɛɫɬɚɧɰɢɢ ɤɨɢɬɨ ɦɨɝɚɬɞɚ ɨɤɚɠɚɬ ɨɬɪɢɰɚɬɟɥɧɨ ɜɴɡɞɟɣɫɬɜɢɟ ɜɴɪɯɭɨɤɨɥɧɚɬɚ ɫɪɟɞɚ ɢ ɨɫɧɨɜɧɢ

ɤɨɦɩɨɧɟɧɬɢɤɨɢɬɨɦɨɝɚɬɞɚɫɟɢɡɩɨɥɡɜɚɬɩɨɜɬɨɪɧɨȼɚɠɧɨɟ:(((ɞɚɛɴɞɚɬɨɛɪɚɛɨɬɟɧɢɩɨɫɩɟɰɢɮɢɱɧɢɧɚɱɢɧɢɫɨɝɪɥɟɞɩɪɚɜɢɥɧɨɬɨ

ɨɬɫɬɪɚɧɹɜɚɧɟɢɢɡɯɜɴɪɥɹɧɟɬɨɧɚɜɫɢɱɤɢɡɚɦɴɪɫɢɬɟɥɢɢɜɴɡɜɪɴɳɚɧɟɬɨɢɪɟɰɢɤɥɢɪɚɧɟɧɚɜɫɢɱɤɢɦɚɬɟɪɢɚɥɢ

Ɉɬɞɟɥɧɢɬɟɢɧɞɢɜɢɞɢɦɨɝɚɬɞɨɨɤɚɠɚɬɜɚɠɧɚɪɨɥɹɨɫɢɝɭɪɹɜɚɣɤɢɱɟ:(((ɧɹɦɚɞɚɫɬɚɧɚɬɩɪɨɛɥɟɦɡɚɨɤɨɥɧɚɬɚɫɪɟɞɚɜɚɠɧɨɟɞɚɛɴɞɚɬ

ɫɥɟɞɜɚɧɢɧɹɤɨɢɨɫɧɨɜɧɢɩɪɚɜɢɥɚ

:(((ɧɟɬɪɹɛɜɚɞɚɛɴɞɚɬɬɪɟɬɢɪɚɧɢɤɚɬɨɞɨɦɚɤɢɧɫɤɢɨɬɩɚɞɴɰɢ

:(((ɬɪɹɛɜɚɞɚɛɴɞɚɬɩɪɟɞɚɜɚɧɢɜɫɴɨɬɜɟɬɧɬɢɟɫɴɛɢɪɚɬɟɥɧɢɩɭɧɤɬɨɜɟɭɩɪɚɜɥɹɜɚɧɢɨɬɨɛɳɢɧɚɬɚɢɥɢɪɟɝɢɫɬɪɢɪɚɧɢɤɨɦɩɚɧɢɢȼɦɧɨɝɨɞɴɪɠɚɜɢɡɚ

ɝɨɥɟɦɢ:(((ɦɨɠɟɞɚɫɟɩɪɟɞɥɚɝɚɫɴɛɢɪɚɧɟɨɬɞɨɦɨɜɟɬɟ

ɤɨɝɚɬɨɤɭɩɭɜɚɬɟɧɨɜɭɪɟɞɫɬɚɪɢɹɬɦɨɠɟɞɚɛɴɞɟɜɴɪɧɚɬɧɚɬɴɪɝɨɜɟɰɚɤɨɣɬɨɞɚɝɨɩɪɢɛɟɪɟɬɟɛɟɡɩɥɚɬɧɨɧɚɛɚɡɚɟɞɧɨɤɴɦɟɞɧɨɞɨɤɚɬɨɨɛɨɪɭɞɜɚɧɟɬɨɟ

ɨɬɫɴɳɢɹɬɢɩɢɦɚɫɴɳɢɬɟɮɭɧɤɰɢɢɤɚɬɨɞɨɫɬɚɜɟɧɨɬɨɨɛɨɪɭɞɜɚɧɟ

ɋɉȿɋɌəȼȺɇȿɇȺȿɇȿɊȽɂəɂɈɉȺɁȼȺɇȿɇȺɈɄɈɅɇȺɌȺɋɊȿȾȺ

Ʉɨɝɚɬɨɟɜɴɡɦɨɠɧɨɢɡɛɹɝɜɚɣɬɟɩɪɟɞɜɚɪɢɬɟɥɧɨɬɨɡɚɝɪɹɜɚɧɟɧɚɮɭɪɧɚɬɚɉɨɜɪɟɦɟɧɚɝɨɬɜɟɧɟɨɬɜɚɪɹɣɬɟɜɪɚɬɚɬɚɧɚɮɭɪɧɚɬɚɜɴɡɦɨɠɧɨɧɚɣɦɚɥɤɨ

ɡɚɳɨɬɨɩɪɢɜɫɹɤɨɨɬɜɚɪɹɧɟɫɟɝɭɛɢɬɨɩɥɢɧɚɁɚɡɧɚɱɢɬɟɥɧɚɢɤɨɧɨɦɢɹɧɚɟɧɟɪɝɢɹɢɡɤɥɸɱɟɬɟɮɭɪɧɚɬɚ±ɦɢɧɭɬɢɩɪɟɞɢɩɥɚɧɢɪɚɧɢɹɬɤɪɚɣɧɚɜɪɟɦɟɬɨ

ɡɚɝɨɬɜɟɧɟɢɢɡɩɨɥɡɜɚɣɬɟɨɫɬɚɬɴɱɧɚɬɚɬɨɩɥɢɧɚɤɨɹɬɨɮɭɪɧɚɬɚɩɪɨɞɴɥɠɚɜɚɞɚɝɟɧɟɪɢɪɚɁɚɞɚɢɡɛɟɝɧɟɬɟɡɚɝɭɛɚɧɚɬɨɩɥɢɧɚɩɨɞɞɴɪɠɚɣɬɟɱɢɫɬɢɢɜɪɟɞ

ɭɩɥɴɬɧɟɧɢɹɬɚɧɚɮɭɪɧɚɬɚȺɤɨɢɦɚɬɟɪɚɡɥɢɱɧɢɬɚɪɢɮɢɡɚɟɥɟɤɬɪɢɱɟɫɤɚɬɚɟɧɟɪɝɢɹɢɡɩɨɥɡɜɚɣɬɟɨɬɥɨɠɟɧɢɹɬɫɬɚɪɬɡɚɞɚɫɬɚɪɬɢɪɚɬɟɝɨɬɜɟɧɟɬɨɧɚɩɨ

ɧɢɫɤɚɬɚɬɚɪɢɮɚ



 Ⱦɟɤɥɚɪɚɰɢɹ ɡɚ ɫɴɨɬɜɟɬɫɬɜɢɟ



ɈȻɓɂɆȿɊɄɂɁȺȻȿɁɈɉȺɋɇɈɋɌ

Ȼɥɚɝɨɞɚɪɢɦȼɢɱɟɢɡɛɪɚɯɬɟɟɞɢɧɨɬɧɚɲɢɬɟɩɪɨɞɭɤɬɢ Ɂ ɚɞɚɢɦɚɬɟɜɴɡɦɨɠɧɨɧɚɣɞɨɛɴɪɪɟɡɭɥɬɚɬɩɪɢɢɡɩɨɥɡɜɚɧɟɬɨɧɚɮɭɪɧɚɬɚ

ɜɧɢɦɚɬɟɥɧɨɩɪɨɱɟɬɟɬɟɬɨɜɚɪɴɤɨɜɨɞɫɬɜɨɉɪɟɩɨɪɴɱɜɚɦɟȼɢɞɚɡɚɩɚɡɢɬɟɧɚɫɬɨɹɳɨɬɨɪɴɤɨɜɨɞɫɬɜɨɡɚɦɨɧɬɚɠɢɟɤɫɩɥɨɚɬɚɰɢɹɢɩɪɢ

ɧɭɠɞɚɞɚɫɟɨɛɪɴɳɚɬɟɤɴɦɧɟɝɨ

Ʉɨɝɚɬɨɭɪɟɞɴɬɟɜɟɤɫɩɥɨɚɬɚɰɢɹɜɫɢɱɤɢɞɨɫɬɴɩɧɢɱɚɫɬɢɫɚɝɨɪɟɳɢȼɧɢɜɚɣɬɟɞɚɧɟɫɟɞɨɤɨɫɜɚɬɟɞɨɬɟɡɢɟɥɟɦɟɧɬɢ

ɉɪɢɩɴɪɜɢɹɬɩɭɫɤɧɚɮɭɪɧɚɬɚɦɨɠɟɞɚɫɟɭɫɟɬɢɧɟɩɪɢɹɬɧɚɦɢɪɢɡɦɚɌɨɜɚɫɬɚɜɚɡɚɳɨɬɨɢɡɨɥɚɰɢɨɧɧɢɬɟɟɥɟɦɟɧɬɢɫɟɡɚɝɪɹɜɚɬɡɚ

ɩɴɪɜɢɩɴɬɌɨɜɚɟɚɛɫɨɥɸɬɧɨɧɨɪɦɚɥɧɨɢɧɹɦɚɩɨɜɨɞɡɚɩɪɢɬɟɫɧɟɧɢɟɂɡɱɚɤɚɣɬɟɭɪɟɞɚɞɚɢɡɫɬɢɧɟɢɝɨɡɚɛɴɪɲɟɬɟɞɨɛɪɟɋɥɟɞ

ɬɨɜɚɟɝɨɬɨɜɡɚɧɨɪɦɚɥɧɚɟɤɫɩɥɨɚɬɚɰɢɹ

ȿɞɧɚɮɭɪɧɚɩɨɫɜɨɹɬɚɫɴɳɧɨɫɬɧɚɪɚɛɨɬɚɫɬɚɜɚɦɧɨɝɨɝɨɪɟɳɚɈɫɨɛɟɧɨɫɬɴɤɥɨɬɨɧɚɜɪɚɬɚɬɚɧɚɮɭɪɧɚɬɚ

ȻȽ

ɋɴɜɟɬɢɡɚɛɟɡɨɩɚɫɧɨɫɬ

Ɇɨɧɬɚɠ

Ɇɨɧɬɚɠɴɬɟɨɬɝɨɜɨɪɧɨɫɬɧɚɤɥɢɟɧɬɚɉɪɨɢɡɜɨɞɢɬɟɥɢɬɟɧɟɫɚ

ɡɚɞɴɥɠɟɧɢɞɚɨɫɴɳɟɫɬɜɹɜɚɬɬɚɡɢɞɟɣɧɨɫɬ

ɂɧɫɬɪɭɤɰɢɢɬɟɡɚɦɨɧɬɚɠɧɚɩɪɨɮɟɫɢɨɧɚɥɧɨɤɜɚɥɢɮɢɰɢɪɚɧ

ɩɟɪɫɨɧɚɥɬɪɹɛɜɚɞɚɫɟɫɩɚɡɜɚɬɇɟɩɪɚɜɢɥɧɢɹɬɦɨɧɬɚɠɦɨɠɟɞɚ

ɩɪɢɱɢɧɢɜɪɟɞɚɢɥɢɧɚɪɚɧɹɜɚɧɟɧɚɯɨɪɚɠɢɜɨɬɧɢɢɥɢɜɟɳɢ

ɉɪɨɢɡɜɨɞɢɬɟɥɹɬɧɟɦɨɠɟɞɚɧɨɫɢɨɬɝɨɜɨɪɧɨɫɬɡɚɬɟɡɢɳɟɬɢɢɥɢ

ɧɚɪɚɧɹɜɚɧɢɹ

Ɇɨɧɬɢɪɚɧɟɧɚɮɭɪɧɚɜɤɭɯɧɹɬɚ

ɟɥɟɤɬɪɢɱɟɫɤɢ

ɫɩɚɡɜɚɬ

ɇɟɨɛɯɨɞɢɦɨɟɞɚɫɟɧɚɩɪɚɜɢɩɴɪɜɨɧɚɱɚɥɧɨɩɨɱɢɫɬɜɚɧɟɧɚ

ɨɛɨɪɭɞɜɚɧɟɬɨɩɪɟɞɢɩɴɪɜɨɬɨɢɡɩɨɥɡɜɚɧɟɧɚɜɫɟɤɢɨɬɬɹɯ

ɂɡɦɢɣɬɟɝɢɫɝɴɛɚɂɡɩɥɚɤɧɟɬɟɢɩɨɞɫɭɲɟɬɟ

ɈȻɈɊɍȾȼȺɇȿɁȺɎɍɊɇȺ

ɜɡɚɜɢɫɢɦɨɫɬɨɬɦɨɞɟɥɚ

ɇɚɫɤɚɪɚɬɚɦɨɠɟɞɚɫɟɫɥɚɝɚɬ

ɱɢɧɢɢɢɫɴɞɨɜɟ

Ɉɫɨɛɟɧɨɞɨɛɪɚɟɡɚɩɟɱɟɧɟɧɚ

ɝɪɢɥɂɡɩɨɥɡɜɚɣɬɟɹɡɚɟɞɧɨɫ

ɬɚɜɢɱɤɚɬɚɡɚɦɚɡɧɢɧɢ

ɋɩɟɰɢɚɥɧɢɹɬɩɪɨɮɢɥɧɚ

ɪɚɮɬɨɜɟɬɟɨɡɧɚɱɚɜɚɱɟɬɟɫɬɨɹɬ

ɯɨɪɢɡɨɧɬɚɥɧɨɞɨɪɢɤɨɝɚɬɨɫɟ

ɜɚɞɹɬɇɟɫɴɳɟɫɬɜɭɜɚɪɢɫɤɨɬ

ɪɚɡɥɢɜɚɧɟɧɚɹɫɬɢɟɬɨ

Ⱥɤɨɢɫɤɚɬɟɮɭɪɧɚɬɚɜɢɞɚɪɚɛɨɬɢɧɨɪɦɚɥɧɨɬɪɹɛɜɚɤɨɪɩɭɫɚɧɚ

ɤɭɯɧɹɬɚɜɢɞɚɟɩɨɞɯɨɞɹɳɉɚɧɟɥɢɬɟɧɚɤɭɯɧɟɧɫɤɢɛɥɨɤɤɨɢɬɨ

ɫɚɜɧɟɩɨɫɪɟɞɫɬɜɟɧɚɛɥɢɡɨɫɬɞɨɩɟɳɬɚɬɪɹɛɜɚɞɚɛɴɞɟ

ɧɚɩɪɚɜɟɧɨɬɬɟɪɦɨɭɫɬɨɣɱɢɜɦɚɬɟɪɢɚɥɍɛɟɞɟɬɟɫɟɱɟɜɫɢɱɤɢ

ɦɚɬɟɪɢɚɥɢɦɨɝɚɬɞɚɢɡɞɴɪɠɚɬɧɚɧɚɝɪɹɜɚɧɟɞɨɝɪɚɞɭɫɚȼ

ɩɪɨɬɢɜɟɧɫɥɭɱɚɣɦɨɠɟɞɚɫɟɪɚɡɬɨɩɹɬɢɞɚɩɨɜɪɟɞɹɬɭɪɟɞɚ

ɋɥɟɞɤɚɬɨɮɭɪɧɚɬɚɫɟɦɨɧɬɢɪɚɟɥɟɤɬɪɢɱɟɫɤɢɬɟɤɨɦɩɨɧɟɧɬɢ

ɬɪɹɛɜɚɞɚɫɟɢɡɨɥɢɪɚɬɌɨɜɚɟɡɚɤɨɧɨɜɨɢɡɢɫɤɜɚɧɟɡɚ

ɛɟɡɨɩɚɫɧɨɫɬȼɫɢɱɤɢɩɪɟɞɩɚɡɢɬɟɥɢɬɪɹɛɜɚɞɚɛɴɞɚɬɡɞɪɚɜɨ

ɮɢɤɫɢɪɚɧɢɧɚɦɹɫɬɨɬɚɤɚɱɟɟɧɟɜɴɡɦɨɠɧɨɞɚɛɴɞɚɬ

ɨɬɫɬɪɚɧɟɧɢɛɟɡɩɨɦɨɳɬɚɧɚɫɩɟɰɢɚɥɧɢɢɧɫɬɪɭɦɟɧɬɢ

ɉɥɨɱɚɬɚɡɚɝɨɬɜɟɧɟɬɪɹɛɜɚɞɚɢɦɚɨɬɡɚɞɪɚɡɥɢɤɚɨɬɩɨɧɟ

PPɡɚɞɚɢɦɚɞɨɛɪɨɨɯɥɚɠɞɚɧɟ

ȼɚɠɧɨ

ɋɜɴɪɡɜɚɧɟɤɴɦɁȺɏɊȺɇȼȺɇȿɌɈ

ɑɚɫɬɢɬɟɧɚɬɨɡɢɭɪɟɞɤɨɢɬɨɦɨɝɚɬɞɚɜɥɹɡɚɬɜɤɨɧɬɚɤɬɫɯɪɚɧɢ

ɫɴɨɬɜɟɬɫɬɜɚɬɧɚɪɚɡɩɨɪɟɞɛɢɬɟɧɚȾɢɪɟɤɬɢɜɚȿɂɈ

ɉɨɫɬɚɜɹɣɤɢɢɦɚɪɤɢɪɚɣɤɢɬɨɡɢɩɪɨɞɭɤɬɧɢɟɞɟɤɥɚɪɢɪɚɦɟ

ɧɚ ɧɚɲɚ ɨɬɝɨɜɨɪɧɨɫɬ ɱɟ ɬɨɣ ɟ ɜ ɫɴɨɬɜɟɫɬɜɢɟ ɫɴɫ ɜɫɢɱɤɢ

ȿɜɪɨɩɟɣɫɤɢɢɡɢɫɤɜɚɧɢɹɡɚɛɟɡɨɩɚɫɬɧɨɫɬɡɞɪɚɜɧɢɢɟɤɨɥɨɝɢɱɧɢ

ɧɨɪɦɢ

ɋɥɟɞɤɚɬɨɪɚɡɨɩɚɤɨɜɚɬɟ ɮɭɪɧɚɬɚ ɭɜɟɪɟɬɟɫɟ ɱɟɬɹ ɧɟ ɟɛɢɥɚ

ɩɨɜɪɟɞɟɧɚɩɨɧɹɤɚɤɴɜɧɚɱɢɧȺɤɨɢɦɚɬɟɧɹɤɚɤɜɢɫɴɦɧɟɧɢɹɧɟɹ

ɢɡɩɨɥɡɜɚɣɬɟɫɜɴɪɠɟɬɟɫɟɫɤɜɚɥɢɮɢɰɢɪɚɧɱɨɜɟɤɋɴɯɪɚɧɹɜɚɣɬɟ

ɨɩɚɤɨɜɴɱɧɢɬɟɦɚɬɟɪɢɚɥɢɤɚɬɨɧɚɣɥɨɧɨɜɢɬɨɪɛɢɱɤɢɩɨɥɢɫɬɢɪɨɥ

ɢɥɢɩɢɪɨɧɢɢɡɜɴɧɨɛɫɟɝɚɧɚɞɟɰɚɡɚɳɨɬɨɬɟɫɚɨɩɚɫɧɢɡɚɬɹɯ

ɉɪɨɢɡɜɨɞɢɬɟɥɢɬɟ ɧɹɦɚɬ ɡɚɞɴɥɠɟɧɢɟ ɞɚ ɢɡɩɴɥɧɹɜɚɬ ɬɨɜɚ Ⱥɤɨ

ɩɨɦɨɳɬɚ ɨɬ ɩɪɨɢɡɜɨɞɢɬɟɥɹ ɟ ɧɟɨɛɯɨɞɢɦɚ ɡɚ ɨɬɫɬɪɚɧɹɜɚɧɟ ɧɚ

ɩɨɜɪɟɞɢɩɪɨɢɡɬɢɱɚɳɢɨɬɧɟɩɪɚɜɢɥɧɨɢɧɫɬɚɥɢɪɚɧɟɬɚɡɢɩɨɦɨɳ

ɧɟɫɟɩɨɤɪɢɜɚɨɬɝɚɪɚɧɰɢɹɬɚ

Ɍɪɹɛɜɚɞɚɫɟɫɩɚɡɜɚɬɢɧɫɬɪɭɤɰɢɢɬɟɡɚɦɨɧɬɚɠɧɚɩɪɨɮɟɫɢɨɧɚɥɧɨ

ɤɜɚɥɢɮɢɰɢɪɚɧ ɩɟɪɫɨɧɚɥ ɇɟɩɪɚɜɢɥɧɚɬɚ ɢɧɫɬɚɥɚɰɢɹ ɦɨɠɟ ɞɚ

ɩɪɢɱɢɧɢ ɜɪɟɞɚ ɢɥɢ ɧɚɪɚɧɹɜɚɧɟ ɧɚ ɯɨɪɚ ɠɢɜɨɬɧɢ ɢɥɢ ɜɟɳɢ

ɉɪɨɢɡɜɨɞɢɬɟɥɹɬ ɧɟ ɧɨɫɢ ɨɬɝɨɜɨɪɧɨɫɬ ɡɚ ɬɚɤɚɜɚ ɜɪɟɞɚ ɢɥɢ

ɧɚɪɚɧɹɜɚɧɟ

Ʉɭɯɧɟɧɫɤɢɹɬɛɥɨɤɜɤɨɣɬɨɬɪɹɛɜɚɞɚɫɟɦɨɧɬɢɪɚɮɭɪɧɚɬɚɬɪɹɛɜɚ

ɞɚɛɴɞɟɧɚɩɪɚɜɟɧ ɨɬɦɚɬɟɪɢɚɥɭɫɬɨɣɱɢɜɧɚɬɟɦɩɟɪɚɬɭɪɢɧɚɣ

ɦɚɥɤɨ&

Ɏɭɪɧɚɬɚɦɨɠɟ ɞɚ ɛɴɞɟ ɪɚɡɩɨɥɨɠɟɧɚ ɜɢɫɨɤɨ ɜ ɤɨɥɨɧɚ ɢɥɢ ɩɨɞ

ɪɚɛɨɬɟɧɩɥɨɬ

ɉɪɟɞɢɞɚɮɢɤɫɢɪɚɬɟɬɪɹɛɜɚɞɚɨɫɢɝɭɪɢɬɟɞɨɛɪɚɜɟɧɬɢɥɚɰɢɹɜ

ɩɪɨɫɬɪɚɧɫɬɜɨɬɨ ɧɚ ɮɭɪɧɚɬɚ ɡɚ ɞɚ ɩɨɡɜɨɥɢɬɟ ɩɪɚɜɢɥɧɚɬɚ

ɰɢɪɤɭɥɚɰɢɹɧɚɱɢɫɬɢɹɜɴɡɞɭɯɧɟɨɛɯɨɞɢɦɡɚɨɯɥɚɠɞɚɧɟɢɡɚɳɢɬɚ

ɧɚ ɜɴɬɪɟɲɧɢɬɟ ɱɚɫɬɢ ɇɚɩɪɚɜɟɬɟ ɨɬɜɨɪɢɬɟ ɩɨɫɨɱɟɧɢ ɧɚ

ɩɨɫɥɟɞɧɚɬɚɫɬɪɚɧɢɰɚɫɩɨɪɟɞɜɢɞɚɧɚɦɨɧɬɚɠɚ

ȻȽ



ɉɨɥɟɡɧɢɫɴɜɟɬɢ



ɋɢɫɬɟɦɚɡɚɛɟɡɨɩɚɫɬɧɨɫɬɧɚɪɚɮɬɨɜɟɬɟ

Ɏɭɪɧɚɬɚɪɚɡɩɨɥɚɝɚɫɧɨɜɚɫɢɫɬɟɦɚ

ɡɚɛɟɡɨɩɚɫɧɨɫɬɧɚɪɚɮɬɚɌɨɜɚɜɢ

ɩɨɡɜɨɥɹɜɚɞɚɢɡɜɚɞɢɪɚɮɬɨɜɟɬɟɩɪɢ

ɩɪɨɜɟɪɤɚɬɚɧɚɯɪɚɧɚɬɚɛɟɡɨɩɚɫɧɨɫɬ

ɨɬɯɪɚɧɢɬɟɥɧɢɪɚɡɥɢɜɢɢɥɢɪɚɮɬɨɜɟ

ɩɨɩɚɞɚɳɢɫɥɭɱɚɣɧɨɨɬɮɭɪɧɚɬɚ

Ɂɚɞɚɢɡɜɚɞɢɬɟɪɚɮɬɨɜɟɬɟɢɡɜɚɞɟɬɟ

ɢɩɨɜɞɢɝɧɟɬɟ

Ƚ ɪɢɥ

ɉɨɱɢɫɬɜɚɧɟɢɩɨɞɞɪɴɠɤɚ

ɢɞɟɧɬɢɱɧɚ

ɋɟɪɜɢɡɟɧɰɟɧɬɴɪ

ɋɜɚɥɹɧɟɢɩɨɱɢɫɬɜɚɧɟɧɚɦɟɬɚɥɧɢɬɟɫɬɟɥɚɠɢ

ɩɨɫɬɚɜɟɬɟ

ɇɢɤɨɝɚɧɟɢɡɩɨɥɡɜɚɣɬɟɬɚɜɚɬɚɡɚɭɥɚɜɹɧɟɧɚɫɨɤɨɜɟɤɚɬɨ

ɬɚɜɚɡɚɦɚɡɧɢɧɢɬɴɣɤɚɬɨɬɨɜɚɫɴɡɞɚɜɚɞɢɦɢɦɚɡɧɢɧɢɬɟ

ɳɟɢɡɩɪɴɫɤɚɬɢɡɚɦɴɪɫɹɬɮɭɪɧɚɬɚ

ɉɢɰɚ ɤɨɦɩɥɟɤɬ Ɂɚ ɞɚ ɫɟ ɩɨɥɭɱɚɬ

ɧɚɣɞɨɛɪɢ ɪɟɡɭɥɬɚɬɢ ɨɬ

ɤɨɦɩɥɟɤɬɚ ɬɪɹɛɜɚ ɞɚ ɫɟ ɢɡɩɨɥɡɜɚ

ɡɚɟɞɧɨɫɮɭɧɤɰɢɹɬɚɩɢɰɚ

ɇȿɈɋɌȺȼəɃɌȿȾɊɔɀɄȺɌȺ

ȼɔȼɎɍɊɇȺɌȺ



Ɍɚɜɢɱɤɚɬɚɭɥɚɜɹɫɨɤɨɜɟɬɟɨɬ

ɯɪɚɧɢɬɟɤɨɢɬɨɫɟɝɨɬɜɹɬɧɚ

ɫɤɚɪɚɬɚɂɡɩɨɥɡɜɚɫɟɫɚɦɨɫɝɪɢɥ

ɫɤɚɪɚɢɥɢ)DQ*ULOO$VVLVWHG

ɂɡɜɚɞɟɬɟɹ

ɚɤɨɢɡɩɨɥɡɜɚɬɟɞɪɭɝɢ

ɩɪɨɝɪɚɦɢ

ɉɟɱɟɧɟɬɨ ɩɨɡɜɨɥɹɜɚ ɞɚ ɫɟ ɞɚɞɟ ɧɚ ɯɪɚɧɚɬɚ ɛɴɪɡɨ ɤɚɮɹɜ

ɰɜɹɬɁɚɩɪɟɩɢɱɚɧɟɜɢɩɪɟɩɨɪɴɱɜɚɦɟɞɚɩɨɫɬɚɜɢɬɟɫɤɚɪɚɬɚ

ɜɴɪɯɭ ɱɟɬɜɴɪɬɨɬɨ ɧɢɜɨ ɜ ɡɚɜɢɫɢɦɨɫɬ ɨɬ ɩɪɨɩɨɪɰɢɢɬɟ ɧɚ

ɯɪɚɧɚ  ɜɠ ɮɢɝ ɋɬɪ  ɉɨɱɬɢ ɜɫɢɱɤɢ ɦɟɫɚ ɦɨɝɚɬ ɞɚ ɫɟ

ɩɪɢɝɨɬɜɚɬ ɧɚ ɝɪɢɥ ɂɡɤɥɸɱɟɧɢɟ  ɩɪɚɜɹɬ ɦɧɨɝɨ ɩɨɫɬɧɢɬɟ

ɯɪɚɧɢ ɢ ɪɨɥɤɢɬɟ ɦɟɫɨ ɉɪɢ ɩɪɢɝɨɬɜɹɧɟ ɧɚ ɦɟɫɨ ɢ ɪɢɛɚ

ɬɪɹɛɜɚ ɩɪɟɞɢ ɩɨɫɬɚɜɹɧɟɬɨ ɢɦ ɜɴɜ ɮɭɪɧɚɬɚ ɞɚ ɞɨɛɚɜɢɬɟ

ɩɨɞɩɪɚɜɤɢɢɦɚɡɧɢɧɚ

ȻȽ

ɂɁɉɈɅɁȼȺɇȿɇȺȺɇȺɅɈȽɈȼɑȺɋɈȼɇɂɄɉɊɈȽɊȺɆȺɌɈɊ

ȿɄɋɉɅɈȺɌȺɐɂə

Ɍɡɢɬɚɣɦɟɪɫɟɢɡɩɨɥɡɜɚɜɤɚɱɟɫɬɜɨɬɨɫɢɧɚɱɚɫɨɜɧɢɤɫɴɫ

ɫɬɪɟɥɤɢɢɭɩɪɚɜɥɹɜɚɪɚɛɨɬɚɬɚɧɚɮɭɪɧɚɬɚɩɪɢɧɚɬɢɫɤɚɧɟɧɚ

ɛɭɬɨɧɚɡɚɪɟɝɭɥɢɪɨɜɤɚɢɢɧɞɢɤɚɬɨɪɧɢɬɟɩɢɤɬɨɝɪɚɦɢ

ɋɩɨɦɨɳɬɚɧɚɧɚɬɢɫɤɚɧɟɬɨɧɚɛɭɬɨɧɚɡɚɪɟɝɭɥɢɪɨɜɤɚɜɢɟ

ɦɨɠɟɬɟɞɚɡɚɞɚɞɟɬɟɧɚɱɚɥɟɧɱɚɫɡɚɝɨɬɜɟɧɟɬɨɩɪɨɝɪɚɦɚɡɚ

ɝɨɬɜɟɧɟɢɜɪɟɦɟɡɚɤɪɚɣɧɚɝɨɬɜɟɧɟɬɨɚɫɴɳɨɬɚɤɚɢɞɚ

ɧɚɫɬɪɨɢɬɟɱɚɫɡɚɩɨɞɚɜɚɧɟɧɚɩɪɟɞɭɩɪɟɠɞɚɜɚɳɫɢɝɧɚɥ

ɧɚɩɨɦɧɹɧɟɡɚɜɪɟɦɟɬɨɡɚɝɨɬɜɟɧɟ

ɇȺɋɌɊɈɃɄȺɇȺɑȺɋȺɌȿɄɍɓɑȺɋ

ɈȻɓɂɂɇɋɌɊɍɄɐɂɂɁȺȿɄɋɉɅɈȺɌȺɐɂə

Ɂɚɞɚɧɚɫɬɪɨɢɬɟɱɚɫɚɛɴɪɡɨɧɚɬɢɫɧɟɬɟɛɭɬɨɧɚɡɚɪɟɝɭɥɢɪɨɜɤɚ

ɩɴɬɢɋɥɟɞɬɨɜɚɧɚɞɢɫɩɥɟɹɳɟɫɟɩɨɹɜɢɦɢɝɚɳɚɬɚ

ɩɢɤɬɨɝɪɚɦɚɑȺɋɈȼɇɂɄ

Ɂɚɞɚɭɜɟɥɢɱɢɬɟɢɥɢɧɚɦɚɥɢɬɟɫɬɨɣɧɨɫɬɬɚɧɚɱɚɫɚɡɚɜɴɪɬɟɬɟ

ɛɭɬɨɧɚɡɚɪɟɝɭɥɢɪɨɜɤɚɩɨɱɚɫɨɟɜɢɤɨɜɚɬɚɫɬɪɟɥɤɚɢɥɢɨɛɪɚɬɧɨ

ɫɟɤɭɧɞɢɫɥɟɞɢɡɩɴɥɧɟɧɢɟɧɚɩɨɫɥɟɞɧɚɬɚɪɟɝɭɥɢɪɨɜɤɚ

ɟɥɟɤɬɪɨɧɧɢɹɬɚɣɦɟɪɚɜɬɨɦɚɬɢɱɧɨɢɡɥɢɡɚɨɬɪɟɠɢɦɚɡɚ

ɧɚɫɬɪɨɣɤɚɧɚɱɚɫɚ

ȽɈɌȼȿɇȺɇȺɏɊȺɇȺȼɊɔɑȿɇɊȿɀɂɆ

ɉɪɢɪɚɛɨɬɚɜɪɴɱɟɧɪɟɠɢɦɝɨɬɜɟɧɟɬɨɧɚɫɬɪɨɣɜɚɫɟɩɨ

ɩɨɞɪɚɡɛɢɪɚɧɟɦɨɠɟɞɚɫɟɝɨɬɜɢɯɪɚɧɚɜɪɴɱɟɧɪɟɠɢɦ

ɢɡɩɨɥɡɜɚɣɤɢɨɛɳɢɹɢɡɤɥɸɱɜɚɬɟɥɧɚɮɭɪɧɚɬɚɪɚɛɨɬɢ

ɧɟɡɚɜɢɫɢɦɨɨɬɬɚɣɦɟɪɚ

ȼɇɂɆȺɇɂȿɬɚɣɦɟɪɚɫɟɜɤɥɸɱɜɚɧɚɤɨɥɤɨɫɟɤɭɧɞɢɫɥɟɞ

ɩɨɞɚɜɚɧɟɧɚɡɚɯɪɚɧɜɚɳɨɧɚɩɪɟɠɟɧɢɟ

ɉɊɈȽɊȺɆɂɊȺɇȿɇȺɋɂȽɇȺɅɂɁɂɊȺɓɈɌɈ

ɍɋɌɊɈɃɋɌȼɈ



Ɍɚɣɦɟɪ



ɉɪɨɝɪɚɦɢɪɚɧɟɬɨɧɚɫɢɝɧɚɥɢɡɢɪɚɳɨɬɨɭɫɬɪɨɣɫɬɜɨɨɛɟɡɩɟɱɚɜɚ

ɩɨɞɚɜɚɧɟɬɨɧɚɩɪɟɞɭɩɪɟɠɞɚɜɚɳɡɜɭɤɨɜɫɢɝɧɚɥɫɥɟɞ

ɢɡɬɢɱɚɧɟɬɨɧɚɡɚɞɚɞɟɧɢɹɢɧɬɟɪɜɚɥɨɬɜɪɟɦɟɛɟɡɜɤɥɸɱɜɚɧɟɧɚ

ɮɭɪɧɚɬɚ

Ɂɚɩɪɨɝɪɚɦɢɪɚɧɟɧɚɬɚɣɦɟɪɚɧɚɬɢɫɧɟɬɟɛɭɬɨɧɚɡɚɪɟɝɭɥɢɪɚɧɟ

ɩɴɬɢɋɥɟɞɬɨɜɚɧɚɞɢɫɩɥɟɹɳɟɫɟɩɨɹɜɢɦɢɝɚɳɚɬɚ

ɩɢɤɬɨɝɪɚɦɚɌȺɃɆȿɊɇɚɫɬɪɨɣɤɚɬɚɧɚɬɚɣɦɟɪɚɟɚɧɚɥɨɝɢɱɧɚ

ɧɚɧɚɫɬɪɨɣɤɚɬɚɧɚɱɚɫɚɜɢɠɫɴɨɬɜɟɬɧɢɹɪɚɡɞɟɥ

Ɍɚɣɦɟɪɚɦɨɠɟɞɚɫɟɢɡɩɨɥɡɜɚɫɚɦɨɜɫɥɭɱɚɣɱɟɜɧɚɫɬɨɹɳɢɹ

ɦɨɦɟɧɬɧɟɢɡɩɴɥɧɹɜɚɬɟɩɪɨɝɪɚɦɚɡɚɩɪɢɝɨɬɜɹɧɟɧɚɯɪɚɧɚ

ɉɊɂȽɈɌȼəɇȿɇȺɏɊȺɇȺȼ

ɉɈɅɍȺȼɌɈɆȺɌɂɑȿɇɊȿɀɂɆ

ɂɁɄɅɘɑȼȺɇȿɇȺɎɍɊɇȺɌȺɉɊɂ

ȾɈɋɌɂȽȺɇȿɇȺȼɊȿɆȿɌɈɁȺɄɊȺɃɇȺ

ɉɊɂȽɈɌȼəɇȿɌɈɇȺɏɊȺɇȺ

ɉɪɨɝɪɚɦɢɪɚɧɟɬɨɧɚɜɪɟɦɟɬɨɡɚɤɪɚɣɧɚɩɪɨɟɫɚɧɚɝɨɬɜɟɧɟɜɢҒ

ɩɨɡɜɨɥɹɜɚɞɚɡɚɩɨɱɧɟɬɟɝɨɬɜɟɧɟɬɨɜɟɞɧɚɝɚɢɞɚɩɪɢɤɥɸɱɢɬɟ

ɫɥɟɞɢɡɜɟɫɬɧɨɜɪɟɦɟ

Ɂɚɩɪɨɝɪɚɦɢɪɚɧɟɧɚɜɪɟɦɟɬɨɡɚɤɪɚɣɧɚɝɨɬɜɟɧɟɬɨɧɚɬɢɫɧɟɬɟ

ɛɭɬɨɧɚɡɚɪɟɝɭɥɢɪɨɜɤɚɩɴɬɢҒ ɋɥɟɞɬɨɜɚɧɚɞɢɫɩɥɟɹɳɟɫɟ

ɩɨɹɜɢɦɢɝɚɳɚɬɚɩɢɤɬɨɝɪɚɦɚɋɌɈɉɁɚɞɚɭɜɟɥɢɱɢɬɟɢɥɢ

ɧɚɦɚɥɢɬɟɜɪɟɦɟɬɨɡɚɩɪɢɝɨɬɜɹɧɟɡɚɜɴɪɬɟɬɟɛɭɬɨɧɚɡɚ

ɂɇȾɂɄȺɐɂəɁȺɇȺɊɍɒȿɇɈɉɈȾȺȼȺɇȿɇȺ

ɁȺɏɊȺɇȼȺɓɈɇȺɉɊȿɀȿɇɂȿ

ȾɈɉɔɅɇɂɌȿɅɇɈ

ɋɌɈɉ

ɌȺɃɆȿɊ

ɑȺɋɈȼɇɂɄ

ɋɌȺɊɌ

ɪɟɝɭɥɢɪɚɧɟɩɨɱɚɫɨɜɧɢɤɨɜɚɬɚɫɬɪɟɥɤɚɢɥɢɨɛɪɚɬɧɨ

Ɇɢɝɚɧɟɬɨ ɧɚɩɢɤɬɨɝɪɚɦɚɬɚ ɋɌɈɉ ɩɪɨɞɴɥɠɚɜɚ ɜ

ɩɪɨɞɴɥɠɟɧɢɟ ɧɚ ɧɹɤɨɥɤɨ ɫɟɤɭɧɞɢ ɫɥɟɞ ɩɨɫɥɟɞɧɨɬɨ

ɡɚɜɴɪɬɚɧɟ ɧɚ ɛɭɪɨɧɚ ɡɚ ɪɟɝɭɥɢɪɨɜɤɚ ɉɪɨɝɪɚɦɚɬɚ ɦɨɠɟ ɞɚ

ɛɴɞɟ ɩɨɬɜɴɪɞɟɧɚ ɫ ɧɚɬɢɫɤɚɧɟɬɨ ɧɚ ɛɭɬɨɧɚ ɡɚɪɟɝɭɥɢɪɨɜɤɚ

ɦɢɧɢɦɚɥɧɨɬɨɜɪɟɦɟɡɚɝɨɬɜɟɧɟɟɦɢɧɭɬɢ 

ɋɥɟɞ ɩɨɬɜɴɪɠɞɚɜɚɧɟɬɨ ɧɚ ɩɪɨɝɪɚɦɚɬɚ ɡɚɩɨɱɜɚ ɩɪɨɰɟɫɚ ɧɚ

ɝɨɬɜɟɧɟ ɢ ɚɜɬɨɦɚɬɢɱɧɨ ɫɟ ɩɨɞɚɜɚ ɩɪɟɞɭɩɪɟɠɞɚɜɚɳ ɫɢɝɧɚɥ

ȽɨɬɜɟɧɟɬɨɡɚɜɴɪɲɜɚɬɨɝɚɜɚɤɨɝɚɬɨɁɚɩɪɨɝɪɚɦɢɪɚɧɨɬɨɜɪɟɦɟɡɚ

ɤɪɚɣɧɚɝɨɬɜɟɧɟɬɨ Ɍɟɤɭɳɢɹɱɚɫ

Ɂɚɞɚɩɪɟɝɥɟɞɚɬɟ ɩɪɨɝɪɚɦɚɬɚɧɚɬɢɫɧɟɬɟ ɢɨɬɩɭɫɧɟɬɟ ɛɭɬɨɧɚɡɚ

ɪɟɝɭɥɢɪɨɜɤɚ Ɍɚɣɦɟɪɴɬ ɩɤɚɡɜɚ ɢɡɛɪɚɧɚɬɚ ɩɪɨɝɪɚɦɚ ɋɥɟɞ ɤɪɚɹ

ɧɚɝɨɬɜɟɧɟɬɨɡɚɩɨɱɜɚɞɚɦɢɝɚɩɢɤɬɨɝɪɚɦɚɬɚɋɌɈɉɢɫɟɩɨɞɚɜɚ

ɡɜɭɤɨɜ ɩɪɟɞɭɩɪɟɠɞɚɜɚɳ ɫɢɝɧɚɥ ɋɥɟɞ  ɦɢɧɭɬɚ ɡɜɭɤɨɜɢɹɬ

ɫɢɝɧɚɥɫɩɢɪɚɚɩɢɤɬɨɝɪɚɦɚɬɚɋɌɈɉ ɩɪɨɞɴɥɠɚɜɚ ɞɚɦɢɝɚɞɨ

ɦɨɦɟɧɬɚɜɤɨɣɬɨɜɢɟɧɚɬɢɫɧɟɬɟɛɭɬɨɧɚɡɚɪɟɝɭɥɢɪɚɧɟ

Ɂɚ ɞɚ ɨɬɦɟɧɢɬɟ ɩɪɨɝɪɚɦɚɬɚ ɩɪɟɞɢ ɧɟɣɧɨɬɨ ɩɪɢɤɥɸɱɜɚɧɟ

ɧɚɬɢɫɧɟɬɟ ɛɭɬɨɧɚ ɡɚ ɪɟɝɭɥɢɪɨɜɤɚ ɢ ɝɨ ɞɪɴɠɬɟ ɜ ɧɚɬɢɫɧɚɬɨ

ɩɨɥɨɠɟɧɢɟɡɚɧɹɤɨɥɤɨɫɟɤɭɧɞɢɋɥɟɞɬɨɜɚɩɪɨɝɪɚɦɚɬɚɫɟɨɬɦɟɧɹ

ɢɬɚɣɦɟɪɚɫɟɜɪɴɳɚɜɪɴɱɟɧɪɟɠɢɦɧɚɩɪɢɝɨɬɜɹɧɟɧɚɯɪɚɧɚ

ɉɊɂȽɈɌȼəɇȿɇȺɏɊȺɇȺȼɂɁɐəɅɈ

ȺȼɌɈɆȺɌɂɑȿɇɊȿɀɂɆ

ɉɪɨɝɪɚɦɢɪɚɧɟɬɨɧɚɩɪɢɝɨɬɜɹɧɟɬɨɧɚɯɪɚɧɚɜɢɡɰɥɹɨɚɜɬɨɦɚɬɢɱɟɧ

ɪɟɠɢɦ ȼɢ ɩɨɡɜɨɥɹɜɚ ɞɚ ɡɚɩɨɱɜɚɬɟ ɢ ɡɚɜɴɪɲɜɚɬɟ ɝɨɬɜɟɧɟɬɨ ɫ

ɩɨɦɨɳɬɚɧɚɧɚɫɬɪɨɣɤɢɬɟɧɚɬɚɣɦɟɪɚ

Ɂɚ ɩɪɨɝɪɚɦɢɪɚɧɟ ɜɪɟɦɟɬɨ ɡɚ ɧɚɱɚɥɨ ɧɚ ɝɨɬɜɟɧɟɬɨ ɧɚɬɢɫɧɟɬɟ

ɛɭɬɨɧɚɡɚɪɟɝɭɢɥɪɚɧɟɩɴɬɋɥɟɞɬɨɜɚɧɚɞɢɫɩɥɟɹɫɟɩɨɹɜɹɜɚ

ɦɢɝɚɳɚɬɚɩɢɤɬɨɝɪɚɦɚɋɌȺɊɌɍɜɟɥɢɱɟɬɟɢɥɢɧɚɦɚɥɟɬɟɜɪɟɦɟɬɨ

ɡɚ ɫɬɚɪɬ ɧɚ ɝɨɬɜɟɧɟɬɨ ɫ ɩɨɦɨɳɬɚ ɧɚ ɜɴɪɬɹɳɢɹ ɫɟ ɛɭɬɨɧ ɡɚ

ɪɟɝɭɥɢɪɚɧɟɩɨɱɚɫɨɜɧɢɤɨɜɚɬɚɫɬɪɟɥɤɚɢɥɢɨɛɪɚɬɧɨɆɢɝɚɧɟɬɨɧɚ

ɩɢɤɬɨɝɪɚɦɚɬɚ ɋɌȺɊɌ ɩɪɨɞɴɥɠɚɜɚ ɧɹɤɨɥɤɨ ɫɟɤɭɧɞɢ ɫɥɟɞ

ɩɨɫɥɟɞɧɨɬɨ ɡɚɜɴɪɬɚɧɟ ɛɭɬɨɧɚ ɡɚ ɪɟɝɭɥɢɪɨɜɤɚ Ⱥɤɨ ɜ ɬɨɡɢ

ɢɧɬɟɪɜɚɥɧɟɡɚɜɴɪɬɢɬɟɛɭɬɨɧɚɢɥɢɧɟɝɨɧɚɬɢɫɧɟɬɟɬɨɫɬɪɟɥɤɢɬɟ

ɧɚɱɚɫɚɚɜɬɨɦɚɬɢɱɧɨɫɟɜɪɴɳɚɬɧɚɩɨɤɚɡɜɚɧɟɧɚɬɟɤɭɳɢɹɱɚɫɢ

ɩɪɨɝɪɚɦɢɪɚɧɟɬɨɫɟɨɬɦɟɧɹȺɤɨɧɚɬɢɫɧɟɬɟɛɭɬɨɧɚɡɚɪɟɝɭɥɢɪɨɜɤɚ

ɬɨɜɩɚɦɟɬɬɚɫɟɫɴɯɪɚɧɹɜɚɱɚɫɚɡɚɧɚɱɚɥɨɧɚɝɨɬɜɟɧɟɬɨɫɜɟɬɜɚ

ɩɢɤɬɨɝɪɚɦɚɬɚɋɌȺɊɌ ɢ ɬɚɣɦɟɪɚ ɫɟ ɩɪɟɜɤɥɸɱɜɚ ɜ ɪɟɠɢɦ ɧɚ

ɩɪɨɝɪɚɦɢɪɚɧɟɧɚɧɚɱɚɫɚɡɚɤɪɚɣɧɚɝɨɬɜɟɧɟɬɨɡɚɩɨɱɜɚɞɚɦɢɝɚ

ɩɢɤɬɨɝɪɚɦɚɬɚɋɌɈɉ

ɉɪɨɰɟɞɭɪɚɬɚɡɚɩɪɨɝɪɚɦɢɪɚɧɟɜɪɟɦɟɬɨɡɚ ɤɪɚɣ ɧɚ ɝɨɬɜɟɧɟɬɨɟ

ɚɧɚɥɨɝɢɱɧɚ ɧɚ ɩɪɨɰɟɞɭɪɚɬɚ ɩɨ ɩɪɨɝɪɚɦɢɪɚɧɟ ɧɚ ɧɚɱɚɥɨɬɨ ɧɚ

ɝɨɬɜɟɧɟɬɨɨɩɢɫɧɚɩɨɝɨɪɟ

ȽɨɬɜɟɧɟɬɨɡɚɩɨɱɜɚɬɨɝɚɜɚɤɨɝɚɬɨɁɚɩɪɨɝɪɚɦɢɪɚɧɨɬɨɱɚɫɡɚɫɬɚɪɬ

ɧɚɝɨɬɜɟɧɟɬɨ Ɍɟɤɭɳɢɹɱɚɫ

Ɍɚɣɦɟɪɚ ɫɢɝɧɚɥɢɡɢɪɚ ɡɚ ɧɚɪɭɲɚɜɚɧɟ ɧɚ ɩɨɞɚɜɚɧɟɬɨ ɧɚ

ɡɚɯɪɚɧɜɚɳɨ ɧɚɩɪɟɠɟɧɢɟ ɩɨɫɪɟɞɫɬɜɨɦ ɦɢɝɚɧɟ ɧɚ ɫɢɦɜɨɥɚ

ɑȺɋɈȼɇɂɄ

Ɂɚ ɞɚ ɢɡɤɥɸɱɢɬɟ ɬɚɡɢ ɫɢɝɧɚɥɢɡɚɰɢɹ ɧɚɬɢɫɧɟɬɟ ɡɚ ɤɪɚɬɤɨ

ɛɭɬɨɧɚɡɚɪɟɝɭɥɢɪɚɧɟ

Ɍɟɫɬɜɚɧɜɫɴɨɬɜɟɬɫɬɜɢɟɫ&(1(/(&(1

ɢɡɩɨɥɡɜɚɧɨɡɚɞɟɮɢɧɢɪɚɧɟɧɚɟɧɟɪɝɢɣɧɢɹɤɥɚɫ

ɂɧɫɬɪɭɤɰɢɢɡɚɪɚɛɨɬɚ

ɋɟɥɟɤɬɨɪ

ɧɚF

ɮɭɧɤɰɢɢ

ɇɚɫɬɪɨɣɤɢɧɚ

ɬɟɦɩɟɪɚɬɭɪɚɬɚ

ɩɪɢɦɨɞɟɥɢɫ

ɟɥɟɤɬɪɨɧɟɧ

ɩɪɨɝɪɚɦɚɬɨɪ

7<3($

Ɍɟɪɦɨɫɬɚɬ

ɫɟɥɟɤɬɨɪ

ɎɍɇɄɐɂɂ

ȼɤɥɸɱɜɚɨɫɜɟɬɥɟɧɢɟɬɨɧɚɮɭɪɧɚɬɚ

Ɍɨɜɚɳɟɚɤɬɢɜɢɪɚɚɜɬɨɦɚɬɢɱɧɨɜɟɧɬɢɥɚɬɨɪɚɡɚɨɯɥɚɠɞɚɧɟɫɚɦɨɩɪɢɦɨɞɟɥɢɤɨɢɬɨɝɨɢɦɚɬ

Ɋɚɡɦɪɚɡɹɜɚɧɟ

Ʉɨɝɚɬɨɢɡɛɟɪɟɬɟɬɚɡɢɮɭɧɤɰɢɹɜɟɧɬɢɥɚɬɨɪɚɰɢɪɤɭɥɢɪɚɜɴɡɞɭɯɚɨɤɨɥɨɡɚɦɪɚɡɟɧɚɬɚɯɪɚɧɚ

ɬɚɤɚɱɟɹɪɚɡɦɪɚɡɹɜɚɡɚɧɹɤɨɥɤɨɦɢɧɭɬɢɛɟɡɞɚɫɟɩɪɨɦɟɧɢɫɴɫɬɚɜɚɧɚɩɪɨɬɟɢɧ

ɇɚɬɭɪɚɥɧɚɤɨɧɜɟɤɰɢɹ

ɂɡɩɨɥɡɜɚɬɫɟɞɨɥɟɧɢɝɨɪɟɧɧɚɝɪɟɜɚɬɟɥɢɋɬɚɧɞɚɪɬɧɚɮɨɪɦɚɧɚɩɟɱɟɧɟɂɞɟɚɥɧɚɡɚ

ɩɟɱɟɧɟɧɚɦɟɫɨɩɟɱɟɧɟɧɚɛɢɫɤɜɢɬɢɉɪɚɜɢɯɪɚɧɚɬɚɜɤɭɫɧɚɢɯɪɭɩɤɚɜɚ

Ƚɨɬɜɟɧɟɧɚɜɟɧɬɢɥɚɬɨɪ

ɂɡɩɨɥɡɜɚɬɫɟɞɨɥɟɧɢɝɨɪɟɧɧɚɝɪɟɜɚɬɟɥɢɡɚɟɞɧɨɫɜɟɧɬɢɥɚɬɨɪɚɤɨɣɬɨɰɢɪɤɭɥɢɪɚɜɴɡɞɭɯɚ 

ɜɴɬɪɟɜɴɜɮɭɪɧɚɬɚɉɪɟɩɨɪɴɱɜɚɫɟɡɚɡɟɥɟɧɱɭɰɢɪɢɛɚɢɞɪɌɨɩɥɢɧɚɬɚɧɚɜɥɢɡɚɜɯɪɚɧɚɩɨ

ɞɨɛɪɟɢɜɪɟɦɟɧɚɬɚɡɚɩɪɟɬɨɩɥɹɧɟɢɝɨɬɜɟɧɟɫɟɧɚɦɚɥɹɜɚɬɆɨɠɟɬɟɞɚɩɪɢɝɨɬɜɹɬɟɪɚɡɥɢɱɧɢ

ɯɪɚɧɢɟɞɧɨɜɪɟɦɟɧɧɨɌɨɡɢɦɟɬɨɞɞɚɜɚɦɧɨɝɨɞɨɛɪɚɞɢɫɬɪɢɛɭɰɢɹɧɚɬɨɩɥɢɧɚɬɚɢɦɢɪɢɡɦɢɬɟ 

ɧɟɫɟɫɦɟɫɜɚɬɆɨɠɟɞɚɨɫɬɚɜɢɬɟɨɤɨɥɨɦɢɧɩɨɜɟɱɟɤɨɝɚɬɨɝɨɬɜɢɬɟɩɨɜɟɱɟɨɬɹɫɬɢɟ

ȼɟɧɬɢɥɚɬɨɪɢɞɨɥɟɧɧɚɝɪɟɜɚɬɟɥ

ɂɞɟɚɥɧɚɡɚɞɟɥɢɤɚɬɧɢɹɫɬɢɹɩɚɣɨɜɟɫɭɮɥɟɬɚ

Ƚɪɢɥ

ɂɡɩɨɥɡɜɚɫɟɫɚɦɨɝɨɪɧɢɹɧɚɝɪɟɜɚɬɟɥɢɦɨɠɟɬɟɞɚɧɚɫɬɪɨɢɬɟɬɟɦɩɟɪɚɬɭɪɚɬɚɦɢɧ

ɩɪɟɞɜɚɪɢɬɟɥɧɨɧɚɝɪɹɜɚɧɟɫɚɧɭɠɧɢɡɚɞɚɡɚɝɪɟɟɬɟɞɨɛɪɟɟɥɟɦɟɧɬɢɬɟɂɞɟɚɥɟɧɡɚɤɟɛɚɩ



Ȼɟɥɢɬɟɦɟɫɚɬɪɹɛɜɚɞɚɫɟɞɴɪɠɚɬɧɚɞɢɫɬɚɧɰɢɹɨɬɝɪɢɥɚȼɪɟɦɟɬɨɡɚɝɨɬɜɟɧɟɟɩɨɞɴɥɝɨɧɨ

ɦɟɫɨɬɨɟɩɨɜɤɭɫɧɨɆɨɠɟɬɟɞɚɫɥɚɝɚɬɟɱɟɪɜɟɧɢɬɟɦɟɫɚɢɪɢɛɚɧɚɪɚɮɬɚɫɬɚɜɢɱɤɚɬɚɡɚ

ɦɚɡɧɢɧɢɨɬɞɨɥɭ

Ƚɪɢɥɫɜɟɧɬɢɥɚɬɨɪɂɡɩɨɥɡɜɚɣɬɟɬɭɪɛɨɝɪɢɥɫɴɫɡɚɬɜɨɪɟɧɚɜɪɚɬɚ

Ƚɨɪɟɧɧɚɝɪɟɜɚɬɟɥɜɟɧɬɢɥɚɬɨɪɡɚɰɢɪɤɭɥɢɪɚɧɟɧɚɜɴɡɞɭɯɚɜɴɜɮɭɪɧɚɬɚɉɪɟɞɜɚɪɢɬɟɥɧɨ

ɧɚɝɪɹɜɚɧɟɟɧɭɠɧɨɫɚɦɨɡɚɱɟɪɜɟɧɢɦɟɫɚɉɨɫɬɚɜɟɬɟɯɪɚɧɚɬɚɧɚɪɚɮɬɚɧɚɫɪɟɞɧɨɬɨɧɢɜɨ 

ɋɥɨɠɟɬɟɨɬɞɨɥɭɬɚɜɢɱɤɚɬɚɡɚɦɚɡɧɢɧɢɡɚɞɚɫɴɛɟɪɟɨɬɞɟɥHɧɢɬɟɫɨɤɨɜɟɍɜɟɪɟɬɟɫɟɱɟ

ɯɪɚɧɚɬɚɧɟɟɩɪɟɤɚɥɟɧɨɛɥɢɡɨɞɨɝɪɢɥɚɉɨɫɪɟɞɚɬɚɧɚɝɨɬɜɟɧɟɬɨɨɛɴɪɧɟɬɟɯɪɚɧɚɬɚ

ɉɢɰɚ

Ɍɚɡɢɮɭɧɤɰɢɹɨɫɢɝɭɪɹɜɚɢɞɟɚɥɧɢɭɫɥɨɜɢɹɡɚɹɫɬɢɹɤɚɬɨɩɢɰɚɢɮɨɤɚɱɚɱɪɟɡ

ɰɭɪɤɭɥɢɪɚɧɟɧɚɝɨɪɟɳɜɴɡɞɭɯɜɴɜɮɭɪɧɚɬɚ

ɚɁɚɧɹɤɨɣɦɨɞɟɥɢɮɭɧɤɰɢɹɬɚɫ9$5,2)$1ɟɟɤɫɥɭɡɢɜɧɚɫɢɫɬɟɦɚɪɚɡɪɚɛɨɬɟɧɚɨɬ&DQG\ɡɚɨɩɬɢɦɢɡɢɪɚɧɟɧɚɪɟɡɭɥɬɚɬɢɬɟɨɬɝɨɬɜɟɧɟɬɨ 

9$5,2)$1ɫɢɫɬɟɦɚɬɚɫɟɚɤɬɢɜɢɪɚɫɚɦɚɢɚɜɬɨɦɚɬɢɱɧɨɩɪɨɦɟɧɹɫɤɨɪɨɫɬɬɚɧɚɜɟɧɬɢɥɚɬɨɪɚɤɨɝɚɬɨɢɡɛɟɪɟɬɟɨɩɪɟɞɟɥɟɧɚɮɭɧɤɰɢɹɎɭɧɤɰɢɢɬɟɧɚ

ɜɟɧɬɢɥɚɬɨɪɚɫɚɜɨɝɪɚɞɟɧɨɬɨɩɨɥɟɧɚɤɨɧɬɪɨɥɧɢɹɩɚɧɟɥ

ɂɡɩɨɥɡɜɚɧɟɧɚɬɚɣɦɟɪɚɡɚɤɪɚɣɧɚɝɨɬɜɟɧɟɬɨ

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   /Ĩ ƚŚĞ ĨƵƌŶŝƚƵƌĞ ŝƐ ĞƋƵƉƉĞĚ ǁŝƚŚ Ă ďŽƚƚŽŵ Ăƚ ƚŚĞ ďĂĐŬ

ƉĂƌƚƉƌŽǀŝĚĞĂŶŽƉĞŶŝŶŐĨŽƌƚŚĞƉŽǁĞƌƐƵƉƉůǇĐĂďůĞ

   ^Ğ ŝů ŵŽďŝůĞ ğ ĞƋƵŝƉĂŐŐŝĂƚŽ ĐŽŶ ƵŶĂ ĐŽƉĞƌƚƵƌĂ ƉŽƐƚĞƌŝŽƌĞ

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