Hitachi P42H01AU 42" High Definition Plasma TV

Product's Documents

Below are documents related to this product, you can read online or download:
User Manual Other Documents
P42H01AU photo

User Manual

This is the main product document for model P42H01AU.

The file format is pdf, 57 pages, you can download this manual here .

background
&RORU3ODVPD7HOHYLVLRQ
86(50$18$/
)RUIXWXUHUHIHUHQFHUHFRUGWKHVHULDOQXPEHURI\RXUWHOHYLVLRQ
6(5,$/12
7KLVVHULDOQXPEHULVORFDWHGRQWKHUHDURIWKHWHOHYLVLRQ
0RGHO1DPH
3+$8
3+$8
7KLVLVWKHLPDJHRIWKHPRGHO3+$8'HVNWRSVWDQGVKRZQDERYHLVRSWLRQDO
5($'7+(,16758&7,216,16,'(&$5()8//<
.((37+,686(50$18$/)25)8785(5()(5(1&(
background
86(50$18$/
7KDQN\RXIRUSXUFKDVLQJWKH+LWDFKL3ODVPD7HOHYLVLRQ
3OHDVHUHDGWKLVXVHUPDQXDOFDUHIXOO\EHIRUHRSHUDWLQJ
WKLVSURGXFW
7RHQVXUHSURSHURSHUDWLRQSOHDVHUHDGDQGIROORZ$//
WKHLQVWUXFWLRQVHVSHFLDOO\WKH,03257$176$)(7<
,16758&7,216DQG6$)(7<35(&$87,216
3OHDVHNHHSWKLVXVHUPDQXDOIRUIXWXUHUHIHUHQFH
background
&217(176
,03257$176$)(7<,16758&7,216
5HDGWKLVLQVWUXFWLRQWKRURXJKO\
5HWDLQWKLVLQVWUXFWLRQIRUIXWXUHUHIHUHQFH
+HHGDOOZDUQLQJVDQGFDXWLRQVWRSUHYHQWSRVVLEOHGDQJHU
)ROORZDOOLQVWUXFWLRQV,PSURSHUKDQGOLQJFRXOGFDXVHSHUVRQDOLQMXU\DQGRUVHULRXVGDPDJHWRWKHXQLWWKDWPD\
VKRUWHQLWVVHUYLFHWLPH
'RQRWEORFNDQ\YHQWLODWLRQRSHQLQJV
,QVWDOOWKHSURGXFWLQDFFRUGDQFHZLWKWKHPDQXIDFWXUHU¶VLQVWUXFWLRQV
%HIRUHFDOOLQJIRUWKHWHFKQLFDOVXSSRUWRUVHUYLFHWHFKQLFLDQUHDG³7528%/(6+227,1*´

a

WRGHWHUPLQH
WKHV\PSWRPVZKHQSUREOHPVRFFXUGXULQJLQVWDOODWLRQRURSHUDWLRQRIWKHSURGXFW
,IVHULRXVSUREOHPVKDSSHQVXFKDVVPRNHRUDQDEQRUPDORGRUIURPWKHXQLWXQSOXJWKHSRZHUFRUGDQGWKHQ
FRQWDFW\RXUORFDOGHDOHULPPHGLDWHO\
,03257$176$)(7<,16758&7,216
,1752'8&7,21
$ERXW7KLV0DQXDO 
7UDGHPDUN&UHGLWV 
$ERXW6RIWZDUH 
)HDWXUHV 
6$)(7<35(&$87,216
$ERXWWKH6\PEROV 
&OHDQLQJDQG0DLQWHQDQFH
$%2873/$60$',63/$<3$1(/
,PDJH5HWHQWLRQRI3ODVPD'LVSOD\ 
&KDUDFWHULVWLFVRI,PDJH5HWHQWLRQ 
0HWKRGWR5HGXFH,PDJH5HWHQWLRQ 
2WKHU&RPPRQ&KDUDFWHULVWLFVRI
3ODVPD'LVSOD\3DQHOV 
48,&.67$57*8,'(
6XSSOLHG$FFHVVRULHVLQFOXGLQJRSWLRQ 
&RQQHFWLRQ 
,QVHUWWKHEDWWHULHVLQWRWKHUHPRWHFRQWURO 
6ZLWFK2Q 
$XWR7XQLQJ 
&20321(171$0(6
0DLQ8QLW
5HPRWH&RQWURO 
35(3$5$7,21
5HPRWH&RQWURO%DWWHULHV,QVWDOODWLRQ 
+DQGOLQJWKH5HPRWH&RQWURO 
&DXWLRQ:KHQ0RYLQJWKH0DLQ8QLW 
6DIHW\3UHFDXWLRQRQ0DLQ8QLW,QVWDOODWLRQ 
$QWL7XPEOH0HDVXUHV 
&211(&7,21
7HUPLQDO3RVLWLRQV 
&RQQHFWLQJ3URFHGXUH 
%$6,&23(5$7,21
3RZHU2Q2II 
9ROXPH83'2:1 
0XWH 
,QSXW6ZLWFKLQJWR'7779$9a+'0,a
DQG5*% 
,QSXW6LJQDO6FUHHQ'LVSOD\ 
796(78323(5$7,21
+RZWRXVHWKH2Q6FUHHQ'LVSOD\26'V\VWHP 
79$95*%0DLQ0HQX/LVW 
,QVWDOOLQJDQG6HWWLQJ&KDQQHOV
&KDQQHO6HOHFWLRQV 
6WHSSLQJWKURXJKWKH&KDQQHO 
6HOHFWLQJE\1XPEHU 
3LFWXUH6HWWLQJ 
$XGLR6HWWLQJ 
$XGLR6ZLWFKLQJ79 
%LOLQJXDO'XDO6RXQG%URDGFDVW 
6WHUHR%URDGFDVW 
$9%URDGFDVW6LJQDO6HWWLQJ 
3&$GMXVWPHQW6HWWLQJ 
)URP6HWXS0HQX5*% 
)URP3LFWXUH0HQX5*% 
$QDORJ7HOHWH[W 
:KDWLV³7HOHWH[W´ 
6HOHFW7HOHWH[W/DQJXDJH 
+RZWR2SHUDWHWKH7HOHWH[W 
2WKHU 
%ODFN6LGH3DQHO3DQHO0RGH 
',*,7$/7(55(675,$/7(/(9,6,21'77
23(5$7,21
+RZWRXVHWKH2Q6FUHHQ'LVSOD\26'V\VWHP 
'770DLQ0HQX/LVW 
,QVWDOOLQJ&KDQQHOV 
5HVWRULQJ&KDQQHOV 
&KDQQHO6HOHFWLRQV 
6WHSSLQJWKURXJKWKH&KDQQHO 
6HOHFWLQJIURPWKH3URJUDP)DYRULWH/LVW 
6HOHFWLQJE\1XPEHU
 
8VLQJWKH(OHFWURQLF3URJUDP*XLGH(3* 
0DNLQJ)DYRULWH/LVW 
,QIRUPDWLRQ%DQQHU 
'LJLWDO7HOHWH[W 
(OHFWURQLF3URJUDP*XLGH(3* 
6XEWLWOH 
3DUHQWDO*XLGDQFH 
$XGLR/DQJXDJH03(*'ROE\
'LJLWDO 
'LJLWDO$XGLR2XWSXW 
&KDQJH3LQ 
/RFDO7LPH 
&KHFNLQJ'776\VWHP,QIRUPDWLRQ 
-XPSWR796HWXS0HQX 
)81&7,21
6L]H6ZLWFKLQJ 
'7779$9VLJQDOLQSXW
'LVSOD\6L]H 
3RVLWLRQ$GMXVWPHQW 
'HIDXOW6HWWLQJLQ79PRGH 
3DQRUDPLF0RGH$GMXVWPHQWLQ79PRGH 
5*%VLJQDOLQSXW 
'LVSOD\6L]H 
3LFWXUH)UHH]LQJ 
3RZHU6DYH0RGH 
:KHQ79LQSXWLVVHOHFWHG 
:KHQ$9LQSXWLVVHOHFWHG 
:KHQ5*%LQSXWLVVHOHFWHG 
2WKHUV 
'9'3OD\HU67%6HOHFWLRQ
7528%/(6+227,1*
:KHQ)ROORZLQJ0HVVDJHV$SSHDURQWKH6FUHHQ 
6\PSWRQDQG&KHFN/LVW 
352'8&763(&,),&$7,216
6LJQDO,QSXW 
5HFRPPHQGHG6LJQDO/LVW
background
,1752'8&7,21
7KDQN\RXIRUSXUFKDVLQJWKH+LWDFKL3ODVPD7HOHYLVLRQ:HKRSHWKDW\RXZLOOHQMR\WKHJUHDWSHUIRUPDQFHRIWKLV
SURGXFW
7KLV3ODVPDWHOHYLVLRQKDVEHHQGHVLJQHGWRPHHWWKHLQWHUQDWLRQDOVWDQGDUGV+RZHYHULWFRXOGFDXVHSHUVRQDO
LQMXULHVDQGSURSHUW\GDPDJHLILPSURSHUO\KDQGOHG,QRUGHUWRSUHYHQWSRWHQWLDOGDQJHUDQGREWDLQPD[LPXPEHQH¿W
IURP\RXUVHWSOHDVHREVHUYHWKHIROORZLQJLQVWUXFWLRQVZKHQLQVWDOOLQJRSHUDWLQJDQGFOHDQLQJWKHSURGXFW
.HHSWKLVPDQXDOIRUIXWXUHUHIHUHQFHDQGUHFRUGWKHVHULDOQXPEHURI\RXUVHWLQWKHVSDFHSURYLGHGRQWKHIURQW
FRYHUSDJHRIWKLVPDQXDO
$ERXW7KLV0DQXDO
7KHLQIRUPDWLRQLQWKLVPDQXDOLVVXEMHFWWRFKDQJHZLWKRXWQRWLFH
7KLVPDQXDOKDVEHHQFUHDWHGZLWKH[WUDFDUH,QFDVHWKDW\RXKDYHDQ\FRPPHQWVRUTXHVWLRQVUHJDUGLQJWKLV
PDQXDOSOHDVHFRQWDFW\RXUORFDOGHDOHURURXU&XVWRPHU6HUYLFH&HQWHU
%HIRUHRSHUDWLQJWKLVVHWSOHDVHIXOO\XQGHUVWDQGWKHSUHUHTXLVLWHVXFKDVVSHFL¿FDWLRQVRUFRQVWUDLQWVRIWKHKDUGZDUH
DQGVRIWZDUH:HDUHQRWUHVSRQVLEOHDQGKDYHQROLDELOLW\IRUDQ\ORVVGDPDJHRULQMXU\DVDUHVXOWRIPLVXVH
5HSURGXFWLRQFRS\LQJXVHPRGL¿FDWLRQDQGRUWUDQVPLVVLRQLQZKROHRULQSDUWRIWKLVPDQXDODUHSURKLELWHG
ZLWKRXWDQ\SULRUZULWWHQSHUPLVVLRQ
$OORWKHUSURGXFWVDQGFRPSDQ\QDPHVXVHGLQWKLVPDQXDODUHWUDGHPDUNVRUUHJLVWHUHGWUDGHPDUNVRIWKHLU
UHVSHFWLYHRZQHUV
7UDGHPDUN&UHGLWV
9*$DQG;*$DUHWUDGHPDUNVRI,QWHUQDWLRQDO%XVLQHVV0DFKLQHV&RUSRUDWLRQ
9(6$LVDUHJLVWHUHGWUDGHPDUNRIWKH9LGHR(OHFWURQLFV6WDQGDUG$VVRFLDWLRQ
/LFHQVHGE\%%(6RXQG,QFXQGHU863DQG
%%(DQG%%(V\PERODUHUHJLVWHUHGWUDGHPDUNVRI%%(6RXQG,QF
0DQXIDFWXUHGXQGHUOLFHQVHIURP%%(6RXQG,QF
:2:656DQG
z
V\PERODUHWUDGHPDUNVRI656/DEV,QF
:2:WHFKQRORJ\LVLQFRUSRUDWHGXQGHUOLFHQVHIURP656/DEV,QF
+'0,WKH+'0,ORJRDQG+LJK'H¿QLWLRQ0XOWLPHGLD,QWHUIDFHDUHWUDGHPDUNVRUUHJLVWHUHGWUDGHPDUNVRI+'0,
/LFHQVLQJ//&
'9%LVDUHJLVWHUHGWUDGHPDUNRIWKH'9%3URMHFW
0DQXIDFWXUHGXQGHUOLFHQVHIURP'ROE\/DERUDWRULHV
'ROE\DQGWKHGRXEOH'V\PERODUHWUDGHPDUNVRI'ROE\/DERUDWRULHV
(YHQLIQRVSHFLDOQRWDWLRQKDVEHHQPDGHRIFRPSDQ\RUSURGXFWWUDGHPDUNVWKHVHWUDGHPDUNVKDYHEHHQIXOO\
UHVSHFWHG
$ERXW6RIWZDUH
<RXPD\QRWDOWHUGHFRPSLOHGLVDVVHPEOHGHFU\SWRURWKHUZLVHUHYHUVHHQJLQHHUWKHVRIWZDUHLQVWDOOHGLQWKLV
SURGXFWZKLFKDUHSURKLELWHGE\ODZ
)HDWXUHV
/DUJHVFUHHQDQGKLJKGH¿QLWLRQSODVPDGLVSOD\
(QMR\KLJKUHVROXWLRQGLVSOD\
,PSURYHGGLJLWDOVLJQDOSURFHVVRU
+LJKTXDOLW\VRXQGZLWKGHHSHUULFKHUDQGG\QDPLFEDVVWRQHV
$FFHSWPRUHGLJLWDOLQSXWGHYLFHVZLWK+'0,WHUPLQDOV
*UHDWGLYHUVLW\RIFRQQHFWLQJWHUPLQDOVWRFRYHUZLGHUDQJHRIDXGLRYLVXDOHTXLSPHQW
(QMR\WKHLPDJHIURP3&ZLWKODUJHKLJKGH¿QLWLRQSODVPDVFUHHQ
2SWLFDODXGLRRXWLQVWDOOHG
(DV\WRXVH2Q6FUHHQ'LVSOD\V\VWHPRSHUDWLQJZLWKUHPRWHFRQWURO
/RZSRZHUFRQVXPSWLRQZLWKSRZHUVDYLQJIHDWXUH
background
6$)(7<35(&$87,216
)RU\RXUVDIHW\SOHDVHUHDGWKHIROORZLQJSUHFDXWLRQVFDUHIXOO\EHIRUHXVLQJWKLVSURGXFW,PSURSHUXVHZRXOGFDXVHVHULRXVSHUVRQDOLQMXULHV
DQGRUGDPDJHWR\RXUSURSHUW\RUWKLVSURGXFW
$ERXWWKH6\PEROV
7KHIROORZLQJDUHWKHV\PEROVXVHGLQWKLVPDQXDODQGDI¿[HGRQWKHXQLWLWVHOI3OHDVHIXOO\XQGHUVWDQGWKHPHDQLQJVRIWKHV\PEROVEHIRUH
UHDGLQJWKHLQVWUXFWLRQVLQWKLVVHFWLRQ
:$51,1*
1HYHULJQRUHWKHLQVWUXFWLRQ7KHUHDUHULVNVRIVHULRXVLQMXULHVRUSRVVLEOHGHDWKWRWKHXVHU
&$87,21
'RQRWLJQRUHWKHLQVWUXFWLRQ7KHUHDUHSRVVLELOLWLHVRISHUVRQDOLQMXULHVDQGRUSURSHUW\GDPDJH
2WKHU6\PEROV
7KHWULDQJOHZLWKLOOXVWUDWLRQLVLQWHQGHGWRDOHUWWKHXVHUVWKDWWKHUHDUHSRVVLELOLWLHVRI¿UHH[SORVLRQRUKLJK
WHPSHUDWXUHVLIWKHSURGXFWLVKDQGOHGLPSURSHUO\
(DFKLOOXVWUDWLRQZLWKLQWKHWULDQJOHVSHFL¿HVWKHFRQWHQWVLQGHWDLO7KH¿JXUHRQWKHOHIWLVDQH[DPSOH
7KHFLUFOHZLWKGLDJRQDOOLQHDQGLOOXVWUDWLRQLQGLFDWHVDSURKLELWHGDFWLRQWKHV\PEROWRWKHOHIWLQGLFDWHVWKDW
GLVDVVHPEO\LVSURKLELWHG
7KLVV\PEROLQGLFDWHVDFRPSXOVRU\DFWLRQ
7KHFRQWHQWVZLOOEHFOHDUO\LQGLFDWHGLQDQLOOXVWUDWLRQRUQHDUE\WKHV\PEROWRWKHOHIWLQGLFDWHVWKDWWKHSRZHUSOXJ
VKRXOGEHGLVFRQQHFWHGIURPWKHSRZHURXWOHW
:$51,1*
7KHUHLVDULVNRIÀUHHOHFWULFVKRFNRUVHULRXVLQMXU\
ʄ
8QSOXJWKHSRZHUFRUGLPPHGLDWHO\ZKHQVHULRXVSUREOHPVRFFXU
6HULRXVSUREOHPVVXFKDV
6PRNHDEQRUPDORGRURUQRLVHFRPHVRXWIURPWKHSURGXFW
1RSLFWXUHQRVRXQGRUGLVWRUWHGSLFWXUHRQWKHGLVSOD\
)RUHLJQREMHFWVVXFKDVZDWHUPHWDOVHWFJHWLQVLGHWKHXQLW
'RQRWFRQWLQXHXVLQJWKHSURGXFWXQGHUWKHVHDEQRUPDOFRQGLWLRQV
8QSOXJWKHSRZHUFRUGDQGFRQWDFW\RXUGHDOHULPPHGLDWHO\
)RU\RXUVDIHW\QHYHUWU\WRUHSDLUWKHSURGXFWE\\RXUVHOI
ʄ
'RQRWLQVHUWOLTXLGVRUDQ\IRUHLJQREMHFWVVXFKDVPHWDOVRUÁDPPDEOHLWHPVLQVLGHWKHXQLW
,QFDVHLWKDSSHQVXQSOXJWKHSRZHUFRUGDQGFRQWDFW\RXUGHDOHULPPHGLDWHO\
8VHVSHFLDOFDXWLRQZKHQ\RXQJHUFKLOGUHQDUHDURXQGWKHXQLW
ʄ
'RQRWUHPRYHFRYHURUPRGLI\WKHSURGXFW
+LJKYROWDJHFRPSRQHQWVDUHLQVWDOOHGLQVLGHRIWKHXQLW5HPRYLQJFRYHUVFDQH[SRVH\RXWRKLJK
YROWDJHHOHFWULFDOVKRFNDQGRWKHUGDQJHURXVFRQGLWLRQV
&RQWDFW\RXUORFDOGHDOHUWRSHUIRUPVHUYLFLQJVXFKDVLQVSHFWLRQDGMXVWPHQWRUUHSDLUZRUN
'LVFRQQHFWWKH
SOXJIURPWKH
SRZHURXWOHW
'RQRW
GLVDVVHPEOH
background
6$)(7<35(&$87,216FRQWLQXHG
:$51,1*
7KHUHLVDULVNRIÀUHHOHFWULFVKRFNRUVHULRXVLQMXU\
ʄ
,QVWDOOWKHXQLWDWDSURSHUDUHDZKHUHLWGRHVQRWH[SRVHDQ\RQHWRDQ\GDQJHU
,I\RXKLWDJDLQVWWKHHGJHRIWKHXQLW\RXPD\EHLQMXUHG
ʄ
'RQRWSODFHDQ\REMHFWVRQWRSRIWKHXQLW
2EMHFWVVXFKDV
/LTXLGFRQWDLQHUVYDVH¿VKWDQNÀRZHUSRWFRVPHWLFVRUOLTXLGPHGLFLQH
,IZDWHURUDQ\OLTXLGVSLOORQWRWKHXQLWLWPD\FDXVHVKRUWFLUFXLWDQGUHVXOWLQ¿UHRUHOHFWULFDOVKRFN
,QFDVHWKDWLWKDSSHQVXQSOXJWKHSRZHUFRUGDQGFRQWDFW\RXUGHDOHULPPHGLDWHO\
'RQRWSODFHDQ\WKLQJKHDY\RQWRSRIWKHXQLW
'RQRWFOLPERQRUKDQJIURPWKHXQLW
'RQRWOHW\RXUSHWVJHWRQWRSRIWKHXQLW
ʄ
'RQRWLQVWDOOWKHXQLWLQDQXQVXLWDEOHSODFH
,WFRXOGFDXVHDPDOIXQFWLRQRULQH[WUHPHFDVHVGDQJHURIHOHFWULFVKRFN3ODFHVZKHUHKLJKPRLVWXUH
LVOLNHO\VXFKDVEDWKURRPVRUVKRZHUURRPVFORVHWRZLQGRZVRURXWVLGHZKHUHUDLQVQRZRURWKHU
LQFOHPHQWFRQGLWLRQVFRXOGRFFXUVKRXOGEHDYRLGHG3OHDVHDOVRDYRLGLQVWDOOLQJWKHXQLWLQDSRVLWLRQ
ZKHUHIXPHVIURPD+RW6SULQJFRXOGFRPHLQWRFRQWDFWZLWKLW
ʄ
8QSOXJWKLVXQLWGXULQJOLJKWQLQJVWRUP
7RUHGXFHWKHULVNRIHOHFWULFDOVKRFNGRQRWWRXFKWKHSURGXFWZKHQVWDUWVOLJKWQLQJ
ʄ
'RQRWGRDQ\WKLQJWKDWPD\GDPDJHWKHSRZHUFRUG
'RQRWGDPDJHPRGLI\WZLVWIRUFLEO\EHQGKHDWRUSXOOH[FHVVLYHO\WKHSRZHUFRUG
'RQRWSODFHKHDY\REMHFWVLQFOXGLQJWKHXQLWLWVHOIRQWRSRIWKHSRZHUFRUG
,IWKHSRZHUFRUGLVGDPDJHGFRQWDFW\RXUGHDOHUIRUUHSDLUVRUH[FKDQJH
ʄ
8VHRQO\ZLWKGHVLJQDWHGSRZHUVXSSO\YROWDJH
7RSUHYHQWWKHULVNRI¿UHDQGHOHFWULFDOVKRFNRSHUDWHWKLVSURGXFWRQO\ZLWKWKHSRZHUVXSSO\YROWDJHLQGLFDWHGRQWKH
XQLW
ʄ
%HZDUHQRWWRGURSRUKDYHDQ\LPSDFWRQWKHXQLW
7DNHH[WUDFDUHZKLOHPRYLQJWKHXQLW
7KHSODVPDGLVSOD\SDQHOLVPDGHRIJODVV,QFDVHWKDWLWEUHDNV\RXPD\EHLQMXUHGE\WKHEURNHQSLHFHV
,QFDVHWKDW\RXGURSWKHXQLWRUWKHFDELQHWLVGDPDJHGXQSOXJWKHSRZHUFRUGDQGFRQWDFW\RXUORFDOGHDOHU
LPPHGLDWHO\
&RQWLQXLQJXVHRIWKHSURGXFWZLWKDERYHFRQGLWLRQVPD\FDXVH¿UHRUHOHFWULFDOVKRFN
ʄ
&OHDQGXVWRUPHWDOVRQRUDURXQGWKHEODGHRIWKHSRZHUSOXJUHJXODUO\
&RQWLQXLQJXVHRIWKHSURGXFWZLWKDERYHFRQGLWLRQPD\FDXVH¿UHRUHOHFWULFDOVKRFN
$OZD\VXQSOXJWKHSRZHUFRUG¿UVWDQGFOHDQWKHEODGHVZLWKDGU\FORWK
ʄ
'RQRWSODFHWKHXQLWRQDQXQVWDEOHVXUIDFH
8QVWDEOHSODFHVVXFKDV
7LOWHGVXUIDFHRUVKDN\UDFNWDEOHVWDQGRUWUROO\
,IWKHXQLWIDOOVGRZQLWFRXOGFDXVHSHUVRQDOLQMXU\
'LVFRQQHFWWKH
SOXJIURPWKH
SRZHURXWOHW
background
6$)(7<35(&$87,216FRQWLQXHG
&$87,21
ʄ
'RQRWSODFHRUXVHWKHXQLWDWDGXVW\SODFH
,WFRXOGFDXVHPDOIXQFWLRQE\FORJJLQJGXVWLQWRWKHPRWRUIDQDQGVRRQ
ʄ
'RQRWFRYHURUEORFNDQ\YHQWLODWLRQKROHVRQWKHSURGXFW
7KHXQLWZRXOGRYHUKHDWDQGLWFRXOGFDXVH¿UHRUGDPDJHWKHSURGXFWZKLFKPD\VKRUWHQLWVVHUYLFHOLIH
,QVWDOOWKHSURGXFWLQDFFRUGDQFHZLWKWKHLQVWUXFWLRQVLQWKLVPDQXDO
'RQRWSODFHWKHXQLWZLWKYHQWLODWLRQVLGHGRZQ
'RQRWLQVWDOOWKHXQLWRQWKHFDUSHWRUEHGFORWKHV
'RQRWFRYHUWKHXQLWZLWKWDEOHFORWKHWF
ʄ
%HVXUHWRJURXQGWKHHDUWKFDEOHFRUUHFWO\
(VSHFLDOO\ZKHQ\RXXVHSRZHUFRUGDGDSWHUEHVXUHWRFRQQHFWWKHHDUWKFDEOHWRWKHJURXQGWHUPLQDO,QFRUUHFW
FRQQHFWLRQZRXOGFDXVH¿UHRUHOHFWULFDOVKRFN
)RU\RXUVDIHW\DOZD\VPDNHVXUHWRXQSOXJWKHSRZHUFRUGEHIRUHFRQQHFWRUGLVFRQQHFWWKHHDUWKFDEOH
ʄ
)ROORZWKH$QWLWXPEOHPHDVXUHVLQWKLVPDQXDO
,IWKHXQLWWXPEOHVRYHUWKHUHLVDULVNRISHUVRQDOLQMXU\DQGSRVVLEOHGHDWK$OVRLWZRXOGGDPDJHWKHSURGXFW
VHULRXVO\
ʄ
'RQRWLQVWDOOWKHXQLWQHDUWKHPHGLFDOGHYLFHV
7RSUHYHQWPDOIXQFWLRQRIWKHPHGLFDOGHYLFHVGRQRWXVHWKLVSURGXFWDQGPHGLFDOGHYLFHVLQWKHVDPHURRP
ʄ
'RQRWSODFHD&57EDVHGWHOHYLVLRQQHDUWKHVSHDNHUVRIWKHSODVPDWHOHYLVLRQ
,WFRXOGFDXVHWKHSDUWLDOGLVFRORUDWLRQRUEOXUULQJRIWKHLPDJHRQWKH&57EDVHGWHOHYLVLRQ
3OHDVHLQVWDOOLWDZD\IURPWKHVSHDNHUVRIWKHXQLW
ʄ
'LVFRQQHFWDOORIWKHH[WHUQDOFRQQHFWLRQFDEOHVDQGGHWDFKWKHDQWLWXPEOHPHDVXUHVEHIRUH
PRYLQJWKHXQLW
,WPD\FDXVH¿UHHOHFWULFDOVKRFNRUSHUVRQDOLQMXULHV
ʄ
&RQQHFWWKHSRZHUSOXJVHFXUHO\
,PSURSHUFRQQHFWLRQZLOOFDXVHRYHUKHDWLQJDQGPD\UHVXOWLQ¿UH
'RQRWWRXFKWKHEODGHVRIWKHSOXJZKLOHFRQQHFWLQJLWWRWKHZDOOVRFNHW,WFRXOGFDXVHHOHFWULFDOVKRFN
,IWKHSOXJLVQRW¿WWHGIRUWKHZDOOVRFNHWFRQWDFW\RXUGHDOHUIRUUHSODFHPHQW
ʄ
'RQRWKDQGOHWKHSRZHUFRUGZLWKZHWKDQGV
,WFRXOGUHVXOWLQHOHFWULFDOVKRFN
ʄ
'RQRWSXOOWKHFRUGZKHQ\RXXQSOXJWKHSRZHUFRUG
,WPD\GDPDJHWKHFRUGDQGFRXOGUHVXOWLQ¿UHRUHOHFWULFDOVKRFN
+ROGWKHSOXJZKHQGLVFRQQHFWLQJLW
ʄ
8QSOXJWKHSRZHUFRUGZKHQ\RXGRQRWLQWHQGWRXVHWKHSURGXFWIRUORQJSHULRGVRIWLPH
ʄ
+DQGOHWKHEDWWHULHVSURSHUO\
,PSURSHURULQFRUUHFWXVHRIWKHEDWWHULHVPD\FDXVHFRUURVLRQRUEDWWHU\OHDNDJHZKLFKFRXOGFDXVH¿UHSHUVRQDO
LQMXU\RUGDPDJHWRWKHSURSHUW\
8VHRQO\WKHW\SHVRIWKHEDWWHULHVZKLFKDUHLQGLFDWHGLQWKLVPDQXDO
'RQRWLQVWDOOQHZEDWWHULHVZLWKXVHGRQHV
,QVWDOOWKHEDWWHULHVFRUUHFWO\E\IROORZLQJWKHSRODULW\DQGLQGLFDWLRQVRQWKHEDWWHU\FRPSDUWPHQW
'RQRWGLVSRVHRIWKHXVHGEDWWHULHVDVGRPHVWLFZDVWH'LVSRVHRIWKHPLQDFFRUGDQFHZLWKWKHORFDOUHJXODWLRQV
ʄ
$GMXVWWKHKHDGSKRQHYROXPHSURSHUO\
([FHVVLYHVRXQGSUHVVXUHIURPKHDGSKRQHVPLJKWFDXVHKHDULQJORVV
6XSSO\FRQQHFW
WKHJURXQGZLUH
background
6$)(7<35(&$87,216FRQWLQXHG
35(&$87,216
ʄ
'RQRWLQVWDOOWKHXQLWDWDUHDVZKHUHLWZLOOEHVXEMHFWHGWRKLJKWHPSHUDWXUHV
,WFRXOGGDPDJHWKHFDELQHWRUSDUWVRIWKHSURGXFW
'RQRWLQVWDOOQHDUDQ\KHDWVRXUFHVVXFKDVUDGLDWRUVKHDWUHJLVWHUVVWRYHVRURWKHUDSSDUDWXVWKDWSURGXFHKHDW
.HHSWKHXQLWRXWRIGLUHFWVXQOLJKW,WFRXOGLQFUHDVHWKHWHPSHUDWXUHRIWKHXQLWDQGFDXVHPDOIXQFWLRQ
ʄ
0RWRU)DQ
7KH79KDVPRWRUIDQWRORZHULWVWHPSHUDWXUHDQGWKHIDQPD\SURGXFHQRLVHGXULQJLWVRSHUDWLRQ7KLVLVQRWDPDOIXQFWLRQ
ʄ
9LHZLQJ$GYLFH
7KHOLJKWLQJRIWKHHQYLURQPHQWLQZKLFKWKHSURGXFWLVXVHGVKRXOGEHDSSURSULDWH7RREULJKWGDUNHQYLURQPHQWVDUHQRWJRRGIRU
\RXUH\HV
7DNHWLPHWRUHOD[\RXUH\HVRFFDVLRQDOO\
:KHQ\RXXVHWKLVSURGXFWYLHZIURPDGLVWDQFHHTXDOWRWRWLPHVWKHKHLJKWRIWKHVFUHHQ7KLVLVWKHEHVWYLHZLQJGLVWDQFHLQ
RUGHUWRSURWHFW\RXUH\HVDJDLQVWH\HVWUDLQ
$GMXVWWKHYROXPHWRDQDSSURSULDWHOHYHOHVSHFLDOO\GXULQJWKHQLJKW
ʄ
:KHQWUDQVSRUWLQJWKLVSURGXFW
:KHQWKHSURGXFWQHHGVWREHWUDQVSRUWHGGXHWRPRYLQJRUUHSDLUXVHWKHFDUWRQER[DQGEXIIHUPDWHULDOWKDWFDPHZLWK
WKLVSURGXFW
'RQRWWUDQVSRUWWKLVSURGXFWRQLWVVLGH,WFRXOGGDPDJHWKHSDQHOJODVVRUGHJUDGHWKHSKRVSKRUVRIWKHSDQHO
ʄ
.HHSUDGLRVDZD\IURPWKHXQLWZKLOHLQXVH
7KLVXQLWLVGHVLJQHGWRPHHWWKHLQWHUQDWLRQDO(0,VWDQGDUGVGXHWRSUHYHQWUDGLRLQWHUIHUHQFH+RZHYHUWKHXQLW
PD\JHQHUDWHQRLVHLQWKHUDGLR
,IWKHQRLVHLVKHDUGRQWKHUDGLRSOHDVHWU\WKHIROORZLQJDFWLRQV
$GMXVWWKHGLUHFWLRQRIWKHUDGLRDQWHQQDLQRUGHUQRWWRUHFHLYHWKHLQWHUIHUHQFHIURPWKHXQLW
.HHSWKHUDGLRDZD\IURPWKHXQLW
8VHFRD[LDOFDEOHIRUWKHDQWHQQD
ʄ
$ERXWLQIUDUHGFRPPXQLFDWLRQGHYLFHV
7KHLQIUDUHGFRPPXQLFDWLRQGHYLFHVVXFKDVFRUGOHVVPLFURSKRQHVRUFRUGOHVVKHDGSKRQHVPD\QRWRSHUDWHSURSHUO\DURXQGWKH
XQLW,WLVEHFDXVHRIFRPPXQLFDWLRQIDLOXUH3OHDVHQRWHWKDWWKLVLVQRWPDOIXQFWLRQ
ʄ
:KHQ\RXGLVSRVHRIWKLVSURGXFWDWWKHHQGRILWVOLIHIROORZWKHUHJXODWLRQVLQ\RXUUHVLGHQWLDODUHD
)RUPRUHLQIRUPDWLRQFRQWDFWWKHORFDODXWKRULW\RUWKHGHDOHUZKHUH\RXSXUFKDVHGWKHSURGXFW
&OHDQLQJDQG0DLQWHQDQFH
3OHDVHPDNHVXUHWRXQSOXJWKHSRZHUFRUGEHIRUHFOHDQLQJWKHXQLW
ʄ
+RZWRFOHDQWKHSODVPDVFUHHQSDQHORIWKHXQLW
7KHSDQHOVXUIDFHLVVSHFLDOO\FRDWHGWRUHGXFHWKHUHÀHFWLRQDQGFXWLQIUDUHGUDGLDWLRQWKXVZLSHWKHSDQHOZLWKDOLQWIUHHDQGGU\
FORWKLQRUGHUWRSUHYHQWGDPDJHWRWKHFRDWLQJ
'RQRWXVHDFKHPLFDOFORWKRUFOHDQHU'HSHQGLQJRQWKHLQJUHGLHQWVLWPD\FDXVHGLVFRORUDWLRQDQGGDPDJHRQWKHFRDWLQJ
'RQRWZLSHZLWKDKDUGFORWKRUUXEKDUG,WPD\KXUWWKHFRDWLQJ
,QFDVHRIWKHJUHDV\GLUWVXFKDV¿QJHUSULQWZLSHZLWKDOLQWIUHHFORWKPRLVWHQHGE\DGLOXWHGQHXWUDOGHWHUJHQWVROXWLRQDQGWKHQ
ZLSHZLWKDVRIWDQGGU\FORWK
'RQRWXVHDVSUD\FOHDQHU,WFRXOGUHPRYHWKHFRDWLQJRUFDXVHPDOIXQFWLRQE\HQWHULQJLQVLGHRIWKHXQLW
ʄ
+RZWRFOHDQWKHFDELQHWRIWKHXQLW
7KHIROORZLQJPD\FDXVHFUDFNGHIRUPDWLRQDQGSDLQWSHHOLQJ
'RQRWZLSHWKHFDELQHWZLWKEHQ]HQHWKLQQHUDQGRWKHUFKHPLFDOSURGXFWV
'RQRWVSUD\YRODWLOHVROXWLRQVVXFKDVLQVHFWLFLGHRYHUWKHFDELQHW
'RQRWOHDYHWKHFDELQHWLQSURORQJHGFRQWDFWZLWKSODVWLFRUUXEEHUPDWHULDOV
'RQRWXVHDFKHPLFDOFORWKFOHDQHURUZD['HSHQGLQJRQWKHLQJUHGLHQWVLWPD\FDXVHFUDFNDQGGHIRUPDWLRQ
8VHDOLQWIUHHFORWKHJFORWKIRUFOHDQLQJJODVVHVWRFOHDQWKHFDELQHWDQGFRQWUROSDQHORIWKHXQLW,QFDVHRIWKHKHDY\GLUWZLSH
ZLWKDVRIWFORWKPRLVWHQHGE\DGLOXWHGQHXWUDOGHWHUJHQWVROXWLRQDQGWKHQZLSHZLWKDVRIWDQGGU\FORWK
1HYHUXVHWKHIROORZLQJGHWHUJHQWV,WFRXOGFDXVHFUDFNGLVFRORUDWLRQDQGVFUDWFK
$FLGDONDOLQHGHWHUJHQWDOFRKROLFGHWHUJHQWDEUDVLYHFOHDQHUSRZGHUVRDS2$FOHDQHUFDUZD[JODVVFOHDQHUHWF
background
$%2873/$60$',63/$<3$1(/
,PDJH5HWHQWLRQRI3ODVPD'LVSOD\
7KHSODVPDGLVSOD\KDVRQHRIFKDUDFWHULVWLFVWKDWUHVXOWVLQSDQHOLPDJHUHWHQWLRQGHSHQGLQJRQKRZWKHSODVPDGLVSOD\
LVXVHG7KHIROORZLQJDUHWKHFRPPRQUHDVRQVIRUDQGHIIHFWLYHSUHYHQWLYHPHDVXUHVDJDLQVWWKHLPDJHUHWHQWLRQ
&KDUDFWHULVWLFVRI,PDJH5HWHQWLRQ
,PDJHUHWHQWLRQLVFDXVHGE\SDUWLDOGHJUDGLQJWKHSKRVSKRUGXH
WRWKHSDUWLDOGLVSOD\RIFKDUDFWHUDQG¿JXUH
)RUH[DPSOHZKHQWKHFKDUDFWHUVDVVKRZQLQ)LJ$DUHGLVSOD\HG
FRQWLQXRXVO\IRUDORQJSHULRGRIWLPHRQO\WKHSKRVSKRUV5HG*UHHQ
%OXHGLVSOD\LQJWKHFKDUDFWHUVDUHGHJUDGHG&RQVHTXHQWO\ZKHQ
GLVSOD\LQJDQDOOZKLWHLPDJHRQWKHHQWLUHVFUHHQDVVKRZQLQ)LJ
DWKHPDUNVUHPDLQLQJE\WKHFKDUDFWHUVZLOOVKRZFRORUGLIIHUHQFHV
WKHUHIRUHQRWHWKDWLWLVQRWEXUQWUHPDLQVRIWKHSKRVSKRUV
7KHGHJUHHRILPDJHUHWHQWLRQLVSURSRUWLRQDOWRWKH%ULJKWQHVV
DQG'LVSOD\7LPHIRUWKHFKDUDFWHUVDQGRU¿JXUHV
7KHEULJKWHUWKHFKDUDFWHUVDQG¿JXUHWKHPRUHSKRVSKRULV
GHJUDGHG$VVKRZQLQ)LJ%LQFDVHRIGLVSOD\LQJLPDJHVWKDW
KDYHGLIIHUHQWEULJKWQHVVHDFKIRUDORQJWLPH)LJEVKRZVWKDW
WKHEULJKWHUWKHLPDJHWKHPRUHLWWHQGVWRUHPDLQ
7KHLOOXVWUDWLRQVDUHLPDJHVWRH[SODLQLPDJHUHWHQWLRQ7KHDFWXDOPDQQHUVRQWKHLPDJHUHWHQWLRQYDU\GHSHQGLQJ
RQVXFKFRQGLWLRQVDVRSHUDWLRQWLPHDQGEULJKWQHVV
0HWKRGWR5HGXFH,PDJH5HWHQWLRQ
8VHWKHPHQX6FUHHQ6DYHUDQG6FUHHQ:LSHIXQFWLRQZKLFKDUHDYDLODEOHIURP)XQFWLRQ0HQX
3UHVV

EXWWRQ
6HOHFW)XQFWLRQPHQXDQGSUHVV

EXWWRQ
6HOHFWWKHSUHIHUUHGPHQXDQGSUHVV

EXWWRQ
6HOHFWHG,WHPV 6HWXSKLQW
6FUHHQ6DYHU
2II
7KLVKHOSVWRUHGXFHLPDJHUHWHQWLRQE\VKLIWLQJWKH
ZKROHSLFWXUHLQVPDOODPRXQWVDURXQGWKHVFUHHQDWVHW
LQWHUYDOV
<RXFDQVHOHFWWKHLQWHUYDOEHWZHHQHDFKVKLIW
0LQ
0LQ
0LQ
0LQ
0LQ
6FUHHQ:LSH
2Q
7KLVGLVSOD\VWKHZKLWHSDWWHUQWRUHGXFHWKHLPDJHUHWHQWLRQ
6HOHFW2QRU0LQWRFRQGXFWWKLVIXQFWLRQDVQHHGHG
2Q&RQWLQXRXV2SHUDWLRQ
0LQ/LPLWHG2SHUDWLRQIRUPLQXWHV$IWHU
PLQXWHV79JRHVWRVWDQGE\PRGH
0LQ
8VHLQFRPELQDWLRQZLWKPRYLQJLPDJHV
6LQFHWKHHQWLUHVFUHHQKDVUHODWLYHO\HYHQGHJUDGDWLRQRIWKHSKRVSKRULQPRYLQJLPDJHVLWFDQUHGXFHWKHSDUWLDO
LPDJHUHWHQWLRQ:HUHFRPPHQGWRXVHWRJHWKHUZLWKVXFKPRYLQJLPDJHVDV'9'
6RPHWHOHYLVLRQEURDGFDVWVFRQWDLQLPDJHVRIZKLFKFXWWKHOHIWULJKWRUWRSERWWRPDQGLQZKLFKEURDGFDVWVWDWLRQ
LGHQWLW\RUDFORFNLVGLVSOD\HGIRUDORQJWLPHDWWKHVDPHSRVLWLRQ3OHDVHEHDZDUHWKDWLWPD\FDXVHLPDJHUHWHQWLRQ
>)LJ%@ >)LJE@
>)LJ$@ >)LJD@
"!
# 

 
$# 
% !
"! 
 
!"%

 !  !
!!!"
background
$%2873/$60$',63/$<3$1(/&RQWLQXHG
2WKHU&RPPRQ&KDUDFWHULVWLFVRI3ODVPD'LVSOD\3DQHOV
7KHIROORZLQJDUHWKHFRPPRQFKDUDFWHULVWLFVRI3ODVPD'LVSOD\3DQHOVGXHWRVWUXFWXUDOUHDVRQV3OHDVHQRWHWKDW
WKH\DUHQRWPDOIXQFWLRQV
5HVLGXDOLPDJH
:KHQDVWLOOLPDJHRUPHQXLVGLVSOD\HGRQWKHVFUHHQIRUDVKRUWWLPHDERXWDPLQXWHDQGWKHQVZLWFKHVWRDQRWKHU
LPDJHLWPD\OHDYHDQ³DIWHULPDJH´RQWKHVFUHHQ
7KHUHVLGXDOLPDJHZLOOGLVDSSHDURQLWVRZQ
6XUIDFHRQ3DQHO
7KHSODVPDSDQHOGLVSOD\VLPDJHVE\JHQHUDWLQJGLVFKDUJHVLQWHUQDOO\7KLVFRXOGUDLVHWKHWHPSHUDWXUHRIWKHGLVSOD\VXUIDFH
,QDGGLWLRQGRQRWDOORZDQ\IRUFHIXOLPSDFWWRWKHVXUIDFHRISDQHOEHFDXVHSODVPDSDQHOLV¿QHSURFHVVLQJJODVV
HYHQWKRXJKWKHSDQHOVWUHQJWKHQVE\WKHIURQW¿OWHUPDGHRIWHPSHUHGJODVV
'HIHFWLYH3L[HOVRQ3DQHO
7KHSODVPDGLVSOD\SDQHOLVPDQXIDFWXUHGZLWKKLJKSUHFLVLRQWHFKQRORJ\+RZHYHUWKHUHPLJKWEHVRPHSL[HOVWKDW
GRQRWOLJKWDUHEULJKWHUWKDQWKHRWKHUVRULQGLIIHUHQWFRORUVHWF
background
48,&.67$57*8,'(
)RUPRUHLQIRUPDWLRQRQFRQQHFWLQJDQGXVLQJ\RXU79SOHDVHEHVXUHWRUHDGDOOLQVWUXFWLRQVLQWKLVXVHUPDQXDO
6XSSOLHG$FFHVVRULHVLQFOXGLQJRSWLRQ
8VHU0DQXDO 5HPRWH&RQWURO $$6L]H%DWWHU\
;
3RZHU&RUG 2SWLRQ
'HVNWRS6WDQG
PRGHO76*6
PRGHO76*6
6HHWKHXVHU
PDQXDORIGHVNWRS
VWDQGDERXWWKH
LQVWDOODWLRQ
&RQQHFWLRQ

a

.&RQQHFWWKHSRZHUFRUGWRWKHUHDUSDQHO
3&RQQHFWWRWKHDHULDOOHDGDQGH[WHUQDOHTXLSPHQW
([DPSOH&RQQHFWLQJDHULDOOHDGWKURXJK'9'67%
$&RQQHFWWRWKHSOXJLQWRWKHZDOOVRFNHW
DIWHUDOORWKHUFRQQHFWLRQVDUHFRPSOHWHG
&$87,21
(QVXUHWKDWERWKHQGVRISRZHUFRUGDUHHDVLO\
DFFHVVLEOH
!



".%14-#/,"0&
20"%&-"0+1/'"#1.$
*$&.1&%#4/3.%.$3.%&0".%
".%14-#/,"0&0&(*12&0&%20"%&-"0+1/'/3.%.$
".3'"$230&%3.%&0,*$&.1&
'0/-/,#4"#/0"2/0*&1
5/,#46".%2)&%/3#,&
14-#/,"0&20"%&-"0+1/'
/,#4"#/0"2/0*&1





 


!"
!


















 



 !-$03,".+!/%
1/!$%,!/*0.&!"0-#
)#%-0%$"3.2-$-#2-$%/!-$
!-$03,".+!/%/%')01%/%$1/!$%,!/*0.&.2-$-#
!-2&!#12/%$2-$%/+)#%-0%
&/.,.+"3!"./!1./)%0
4.+"35!-$1(%$.2"+%
03,".+!/%1/!$%,!/*0.&
.+"3!"./!1./)%0



 


!"














 

"




"





 






"




"



"



!!#/&25.$0-#1'
31#&'.#1,20(#$2/%
+%'/2'&$504/&/%4/&'1#/&
#/&25.$0-#1'1')+23'1'&31#&'.#1,20(04/&/%
#/4(#%341'&4/&'1-+%'/2'
(10.0-$5#$01#301+'2
60-$57#/&3*'&04$-'
25.$0-#1'31#&'.#1,20(
0-$5#$01#301+'2





 


!"
"


















 


>([DPSOHPRGHO@
>([DPSOHPRGHO@
background

48,&.67$57*8,'(&RQWLQXHG
,QVHUWWKHEDWWHULHVLQWRWKHUHPRWH
FRQWURO

6ZLWFK2Q

3UHVVHLWKHU3RZHU2Q2IIEXWWRQRQWKHXQLWRU3RZHU2Q2II
EXWWRQRQWKHUHPRWHFRQWURO
7KHFRORURIWKHLQGLFDWLQJODPSWXUQVIURP5HGWR*UHHQ
$XWR7XQLQJ

DQG

:KHQ\RXWXUQ21WKH79IRUWKH¿UVWWLPHDPHVVDJHVKRZVXSWROHDGWRWKH
'77FKDQQHOLQVWDOODWLRQ
.
7KHPHVVDJH³'DWDEDVHLV(PSW\3UHVV0(18IRULQVWDOODWLRQ´DSSHDUV
3
3UHVV

EXWWRQWRDFFHVV'77PDLQPHQX
$
6HOHFW³,QVWDOODWLRQ´IURP'77PDLQPHQXDQGSUHVV

EXWWRQ
/
7KHSDVVZRUGER[ZLOODSSHDUVDV³
ºººº
´DQGHQWHU³´DV\RXULQLWLDO
SDVVZRUG
1
6HOHFWRQHRIWKHVFDQQLQJPHWKRGIURP³0DQXDOVFDQ´³4XLFN
VFDQ´RU³$XWRVFDQ´
7KHQJRRQZLWK79FKDQQHOLQVWDOODWLRQ
.3UHVV

EXWWRQWRDFFHVV79PDLQPHQX
36HOHFW
³
6HWXS
´
IURP79PDLQPHQX
$
6HOHFW
³
$XWR7XQLQJ
´
IURP
³
6HWXS
´
PHQXDQGSUHVV

EXWWRQ
/6HOHFW
³
6HDUFK
´
WRWXQHWKHORFDOFKDQQHOVDXWRPDWLFDOO\
'77
79















'770DLQ0HQX!
790DLQ0HQX!











 

3RZHU2Q2IIEXWWRQ
!



".%14-#/,"0&
20"%&-"0+1/'"#1.$
*$&.1&%#4/3.%.$3.%&0".%
".%14-#/,"0&0&(*12&0&%20"%&-"0+1/'/3.%.$
".3'"$230&%3.%&0,*$&.1&
'0/-/,#4"#/0"2/0*&1
5/,#46".%2)&%/3#,&
14-#/,"0&20"%&-"0+1/'
/,#4"#/0"2/0*&1





 


!"
!


















 


>([DPSOHPRGHO@
3RZHU2Q2IIEXWWRQ
background

&20321(171$0(6
0DLQ8QLW
)URQW3DQHO
.
&DELQHW
3
3DQHO
$
5HPRWH&RQWURO5HFHLYHU
/
,QGLFDWLQJ/DPS
1
6SHDNHU
4
'HVNWRS6WDQGRSWLRQ
5HDU3DQHO
PRGHO PRGHO
&RQWURO3DQHOLQFOXGLQJ6LGH,QSXW
.
3
4
1
.
3RZHU2Q2IIEXWWRQ
3
&KDQQHO8SŸEXWWRQ
$
&KDQQHO'RZQźEXWWRQ
/
9ROXPH8SŹEXWWRQ
1
9ROXPH'RZQŻEXWWRQ
4
,QSXW6HOHFW2.EXWWRQ
2
0HQX5HWXUQEXWWRQ
(
6LGH,QSXW$9+HDGSKRQH2XWSXW
3
$
/
1
4
2
(
.
!



".%14-#/,"0&
20"%&-"0+1/'"#1.$
*$&.1&%#4/3.%.$3.%&0".%
".%14-#/,"0&0&(*12&0&%20"%&-"0+1/'/3.%.$
".3'"$230&%3.%&0,*$&.1&
'0/-/,#4"#/0"2/0*&1
5/,#46".%2)&%/3#,&
14-#/,"0&20"%&-"0+1/'
/,#4"#/0"2/0*&1





 


!"
!


















 





!-$03,".+!/%
1/!$%,!/*0.&!"0-#
*$&.1&%#4/3.%.$3.%&0".%
".%14-#/,"0&0&(*12&0&%20"%&-"0+1/'/3.%.$
".3'"$230&%3.%&0,*$&.1&
'0/-/,#4"#/0"2/0*&1
5/,#46".%2)&%/3#,&
14-#/,"0&20"%&-"0+1/'
/,#4"#/0"2/0*&1





 


!"
!


















 


.
7HUPLQDO%RDUG([WHUQDO'HYLFH&RQQHFWLRQ
3
3RZHU&RUG6RFNHW
$
0RWRU)DQ
/
+DQGJULSV
$
/
.
3
$
//
background

.
3RZHU2Q2II
3UHVVWKLVEXWWRQWRVZLWFK792QRU2IIVWDQGE\
3
'HYLFH6HOHFW79'9'67%
3UHVVWKHVHEXWWRQV
WRVHOHFWWKHGHYLFH79'9'
RU67%WREHFRQWUROOHGE\WKLVUHPRWHFRQWURO
7KHVHOHFWHGEXWWRQZLOOOLJKWXSWRGLVSOD\WKH
VHOHFWHGPRGH
1RUPDOO\VHOHFW³
79´
$
3URJUDP6HOHFW>3DJH6HOHFW@
3UHVVWKHVHEXWWRQVWRVHOHFWD79SURJUDP
GLUHFWO\)RURUGLJLWVFKDQQHOVHOHFWLRQ
SUHVV
EXWWRQLQDGYDQFH
5HIHUWR

IRUGHWDLOV
/
)UHH]H>+ROG@
3UHVVWKLVEXWWRQWRFKDQJHWKHSLFWXUHWRIUHH]H
PRGH3UHVVLWDJDLQWRUHWXUQWRQRUPDOSLFWXUH
$OVRLWKROGVWKHSDJHLQWHOHWH[WPRGH
1
&+,,,


7KLVLVH[FOXVLYHO\IRU79DXGLR$1,&$0PRGH$OVR
SUHVVWKLVEXWWRQWRVHOHFW$XGLR/DQJXDJHLQ'77PRGH
4
9ROXPH8S'RZQ
2
>&RORU@
(
797H[W>79
Ù
7H[W@

7KLVVZLWFKHVEHWZHHQWKH79PRGHDQGWKH7HOHWH[WPRGH
,
7LPH>&DQFHO@
3UHVVWKLVEXWWRQWRGLVSOD\WKHWLPHZKHQ
UHFHLYLQJDQDQDORJ79SURJUDP
7KHWLPHLVQRWGLVSOD\HGLIWKHVLJQDOUHFHLYHG
GRHVQRWKDYHDQ\WLPHLQIRUPDWLRQ
"
0HQX>&RQWUDVW@
0
&XUVRU
#
2.
%
2II7LPHU


7KLVDXWRPDWLFDOO\VHWVWKHSRZHUWRVWDQGE\PRGHZKHQWKH
VHOHFWHGWLPHSHULRGKDVHODSVHGĺĺĺĺPLQ
&

,QSXW6HOHFW'9'&RQWURO
3UHVVWKHVHEXWWRQVWRFKDQJHLQSXWPRGH
,QDGGLWLRQ\RXFDQXVHWKHVHEXWWRQVZKLOH
RSHUDWLQJWKHVHOHFWHGEUDQGRI'9'SOD\HU
+'0,LQSXWLVQRWDYDLODEOH
'
3URJUDP/LVW
,WGLVSOD\VSURJUDPOLVWLQ'77PRGH
)
)DYRULWH/LVW
,WGLVSOD\VIDYRULWHOLVWLQ'77PRGH
*
5HFDOO
3UHVVWKLVEXWWRQWRVKRZWKHLQSXWVLJQDOVWDWXV
+
3LFWXUH0RGH

3LFWXUHPRGHFDQEHFKDQJHGHDFKWLPHSUHVVHGLQ
WKHIROORZLQJVHTXHQFH'\QDPLFĺ1DWXUDOĺ&LQHPD

6RXQG0RGH

6RXQGPRGHFDQEHFKDQJHGHDFKWLPHSUHVVHGLQWKH
IROORZLQJVHTXHQFH0RYLHĺ0XVLFĺ6SHHFKĺ)DYRULWH

'7779

7KLVVZLWFKHVEHWZHHQWKH79PRGHDQG'77PRGH

1RW$YDLODEOH

&KDQQHO8S'RZQ>3DJH6HOHFW@

0XWH

>5HYHDO@

>6XEWLWOH@
*XLGH>,QGH[@
,WGLVSOD\V(3*VFUHHQLQ'77PRGH

5HWXUQ
<RXFDQXVHWKLVWRUHWXUQWRWKHSUHYLRXVPHQX

1RW$YDLODEOH

=RRP>7H[W
Ù
797H[W@
3UHVVWKLVEXWWRQWRFKDQJHSLFWXUHVL]H
&20321(171$0(6&RQWLQXHG
5HPRWH&RQWURO

6RPHEXWWRQVDUHRQO\IRU7HOHWH[WPRGHDQGRWKHUEXWWRQVKDYHGLIIHUHQWIXQFWLRQVLQ7HOHWH[WPRGHIURP
WKHXVHRI79PRGH7KRVHEXWWRQVDUHLQGLFDWHGE\>@5HIHUWR$QDORJ7HOHWH[WRQ

DQG

.
3
$
/
1
4
2
(
,
"
0
#
&
'
)
%
*
+










background

&DXWLRQ:KHQ0RYLQJWKH0DLQ8QLW
$VWKLVSURGXFWLVKHDY\ZKHQHYHULWLVPRYHGWZRSHRSOHDUHUHTXLUHGWRWUDQVSRUWLWVDIHO\
:KHQHYHUWKHXQLWLVPRYHGLW
VKRXOGEHOLIWHGIRUZDUGVXVLQJ
WKHWZRKDQGJULSVDWWKHEDFN
DQGWKHXQLWVKRXOGWKHQEHKHOG
DWWKHWRSRUERWWRPRQERWK
VLGHVIRUVWDELOLW\
35(3$5$7,21
5HPRWH&RQWURO%DWWHULHV,QVWDOODWLRQ
&$87,21
,WFRXOGFDXVHFRUURVLRQRUEDWWHU\OHDNDJHDQGPD\UHVXOWLQSK\VLFDOLQMXU\
DQGRUSURSHUW\GDPDJHLQFOXGLQJÀUH
1HYHUPL[XVHGDQGQHZEDWWHULHVLQWKHGHYLFH
5HSODFHDOOWKHEDWWHULHVLQDGHYLFHDWWKHVDPHWLPH
5HPRYHWKHEDWWHULHVLIWKHUHPRWHFRQWUROLVQRWJRLQJWREHXVHGIRUDQH[WHQGHGSHULRGRIWLPH
7RDYRLGSRVVLEOHIDLOXUHUHDGWKHIROORZLQJLQVWUXFWLRQVDQGKDQGOHWKH
UHPRWHFRQWUROSURSHUO\
'RQRWGURSRUFDXVHLPSDFWWRWKHUHPRWHFRQWURO
'RQRWVSLOOZDWHURUDQ\OLTXLGRQWKHUHPRWHFRQWURO
'RQRWSODFHWKHUHPRWHFRQWURORQDZHWREMHFW
'RQRWSODFHWKHUHPRWHFRQWUROXQGHUWKHGLUHFWVXQOLJKWRUQHDUVRXUFHVRIH[FHVVLYHKHDW
8VHWKHUHPRWHFRQWUROZLWKLQDERXWPIURP
IURQWRIWKHXQLW¶VUHPRWHFRQWUROVHQVRUDQG
ZLWKLQGHJUHHVRQERWKVLGHV







+DQGOLQJWKH5HPRWH&RQWURO
7KLVUHPRWHFRQWURORSHUDWHVRQ³$$´EDWWHULHV

2SHQWKHEDWWHU\FRPSDUWPHQWFRYHU
6OLGHRSHQWKHEDWWHU\
FRPSDUWPHQWFRYHURQWKH
EDFNVLGHLQWKHGLUHFWLRQRIDQ
DUURZDQGUHPRYHWKHFRYHU
,QVWDOOWKHEDWWHULHV
,QVWDOO³$$´EDWWHULHVLQFOXGHG
PDNLQJVXUHWKHSRODULWLHVPDWFK
WKHLQGLFDWLRQLQVLGHWKH
FRPSDUWPHQW
&ORVHWKHEDWWHU\
FRPSDUWPHQWFRYHU
0DNHVXUHRIWKHSRVLWLRQV
WR¿WWKHSURMHFWLQJSDUWVLQ
WKHKROHVDQGVOLGHWKH
FRPSDUWPHQWFRYHULQWKH
GLUHFWLRQRIDQDUURZWLOOLW
FOLFNVVKXW
+ROHV
3URMHFWLQJ
SDUWV
*ULSV
*ULSV


background

35(3$5$7,21FRQWLQXHG
6DIHW\3UHFDXWLRQRQ0DLQ8QLW,QVWDOODWLRQ
5HDG6$)(7<35(&$87,216
WR
FDUHIXOO\EHVLGHVWKLVSDJH
:KHQLQVWDOOLQJWKHXQLWXVHWKHRSWLRQDO'HVNWRS6WDQG76*6IRUPRGHO76*6IRUPRGHO3OHDVH
UHIHUWRWKHXVHUPDQXDORIWKHVWDQG
7KH'HVNWRS6WDQG2SWLRQKDVEHHQXVHGIRUWKHLOOXVWUDWLRQLQWKLVPDQXDO
$QWL7XPEOH0HDVXUHV
,QVWDOOLQDVWDEOHSODFHDQGLPSOHPHQWVDIHW\PHDVXUHDJDLQVWRYHUWXUQLQJ
:KHQLQVWDOOLQJWKHPDLQXQLWEHVXUHWRXVHWKHVSHFL¿HGPRXQWXQLWVLQRUGHUWRREWDLQPD[LPXPSHUIRUPDQFH
DQGPDLQWDLQWKHVDIHW\
:HDVVXPHQRUHVSRQVLELOLW\RUOLDELOLW\IRUSHUVRQDOLQMXULHVRUSURSHUW\GDPDJHVFDXVHGE\XVHRIRWKHUPRXQW
XQLWVRULPSURSHULQVWDOODWLRQ
$VIRUWKHLQVWDOODWLRQLQVWUXFWLRQSOHDVHUHDGHDFKXVHUPDQXDORIWKHPRXQWXQLWVIRU'HVNWRS6HWXS:DOO
0RXQWLQJDQG&HLOLQJ0RXQWLQJ
,QFDVHRIXVLQJ:DOORU&HLOLQJ0RXQWLQJXQLWE\FRQWDFWLQJ\RXUORFDOGHDOHUDVNWKHVSHFL¿HGLQVWDOODWLRQ
VSHFLDOLVWWRVHWXS1HYHUDWWHPSWWRLQVWDOOLWE\\RXUVHOI,WFRXOGFDXVHLQMXULHVRUGDPDJHV
3OHDVHOHDYHDGHTXDWHVSDFHDURXQGWKLVXQLWLQRUGHUWR
DYRLGLQFUHDVLQJWKHLQWHUQDOWHPSHUDWXUH
0DNHVXUHQRWWREORFNDQ\YHQWLODWLRQKROHV
'RQRWLQVWDOOWKHXQLWLQWKHVPDOOVSDFHVXFKDVLQVLGH
WKHUDFNFORVHWRUWKHER[
/HDYHPRUHWKDQFPRIFOHDUDQFHIURPHDFKVLGHRI
XQLWDQGEHKLQGUHDUXQLWDQGFPIURPWKHWRSRIXQLWWR
ZDOO




6HFXULQJWRDZDOORUSLOODU
8VLQJDFRPPHUFLDOO\DYDLODEOHFRUGFKDLQDQGFODPS
VHFXUHWKHVHWWRDZDOORUSLOODU







6HFXULQJWRFHLOLQJ
8VLQJDFRPPHUFLDOO\DYDLODEOHFRUGFKDLQDQGFODPSVHFXUHWKHVHWWRDFHLOLQJ

)RUPRUHLQIRUPDWLRQUHJDUGLQJWKHPRXQWLQJRIWKHXQLWSOHDVHFRQWDFW\RXUGHDOHU
3OHDVHLQVWDOOWKHXQLWDWDSURSHUDUHDZKHUHLWGRHVQRWH[SRVHDQ\RQHWRWKHGDQJHURIKLWWLQJWKHPVHOYHVIRU
H[DPSOHWKHLUKDQGVKHDGRUIDFHHWFDJDLQVWWKHHGJHRIWKHXQLWDQGFDXVHSHUVRQDOLQMXU\






background
&211(&7,21
7HUPLQDO3RVLWLRQV
&RQQHFWLQJ3URFHGXUH
7KLVXQLWLVUHDG\IRUYDULRXVNLQGVRIFRQQHFWLRQV0DNHDFRQQHFWLRQLQWKHIROORZLQJVWHSV%HVXUHWRXQSOXJWKH
SRZHUFRUGIURPWKHZDOOVRFNHW¿UVWZKHQFRQQHFWLQJH[WHUQDOHTXLSPHQW
&RQQHFWSRZHUFRUGWRWKHUHDUSDQHO
&RQQHFWDHULDOOHDG
&RQQHFW\RXUH[WHUQDOHTXLSPHQWLIDQ\WRWKHXQLW
&RQQHFWWKHSRZHUSOXJWRWKHZDOOVRFNHW
&RQQHFWLQJ3RZHU&RUGWRWKH5HDU3DQHO
&RQQHFWSRZHUFRUGWRWKHXQLW
0DNHVXUHQRWWRFRQQHFWWKHSRZHUSOXJWRWKHZDOOVRFNHWXQWLODOOFRQQHFWLRQVDUHFRPSOHWHG
&RQQHFWLQJ$HULDO/HDG
7KHUHDUHWZRZD\VWRFRQQHFWDHULDOOHDG
.
:KHQ\RXGRQRWKDYHDQ\RWKHUH[WHUQDOHTXLSPHQW
&RQQHFWWKHDHULDOOHDGGLUHFWO\LQWRWKHVRFNHWDWUHDUSDQHO
3
:KHQ\RXKDYHRQHRUPRUHH[WHUQDOGHYLFHVWRFRQQHFW

8VH5)FDEOHWRFRQQHFWEHWZHHQHDFKHTXLSPHQWDQGDHULDO

&RQQHFWWKH$HULDO/HDGWRDQHTXLSPHQWµ,Q¶VRFNHWPDUNHG
&RQQHFWWKH5)FDEOHIURPWKHHTXLSPHQWµ2XW¶WRWKH
RWKHUHTXLSPHQWµ,Q
7KHQFRQQHFWIURPWKHHTXLSPHQWµ2XW¶WR³$17´RQWKHSODVPDVFUHHQVRFNHW
!


".%14-#/,"0&
20"%&-"0+1/'"#1.$
*$&.1&%#4/3.%.$3.%&0".%
".%14-#/,"0&0&(*12&0&%20"%&-"0+1/'/3.%.$
".3'"
$230&%3.%&0,*$&.1&
'0/-/,#4"#/0"2/0*&1
5/,#46".%2)&%/3#,&
14-#/,"0&20"%&-"0+1/'
/,#4"#/0"2/0*&1





 


!"
!



















!


".%14-#/,"0&
20"%&-"0+1/'"#1.$
*$&.1&%#4/3.%.$3.%&0".%
".%14-#/,"0&0&(*12&0&%20"%&-"0+1/'/3.%.$
".3'"$230&%3.%&0,*$&.1&
'0/-/,#4"#/0"2/0*&1
5/,#46".%2)&%/3#,&
14-#/,"0&20"%&-"0+1/'
/,#4"#/0"2/0*&1





 


!"
!



















>([DPSOH&RQQHFWLQJ$HULDO
WKURXJK67%DQG9&5@
3UHFDXWLRQVZKHQFRQQHFWLQJWKHDHULDO
3OHDVHXVHDFRD[LDOFDEOHZKLFKLVIUHHIURPLQWHUIHUHQFHWRFRQQHFWWKHDHULDO$YRLGXVLQJDSDUDOOHOÀDWIHHGHU
ZLUHDVLQWHUIHUHQFHPD\RFFXUFDXVLQJUHFHSWLRQWREHXQVWDEOHDQGVWULSHQRLVHWRDSSHDURQWKHVFUHHQ
$YRLGXVLQJLQGRRUDHULDODVWKLVPD\EHDIIHFWHGE\LQWHUIHUHQFH3OHDVHXVH&$79QHWRURXWGRRUDHULDO
)RUVDIHW\LQVWDOODQH[WHUQDODHULDOFRQIRUPLQJWR$6
,IQRLVHDSSHDUVLQWKHSLFWXUHRI9+)/RZEDQGFKDQQHOSOHDVHXVHDGRXEOHVKLHOGHGFDEOHQRWSURYLGHGIRU
5)/($'6WRUHGXFHWKHQRLVH
5HDU
.
3RZHU&RUG6RFNHW
3
$HULDO6RFNHW
$
$9
/
$9
1
$9
4
6HUYLFH8VHRQO\
2

0RQLWRU2XW
(
3&5*%+'0,$QDORJ$XGLR
,QSXW
,
2SWLFDO2XW'LJLWDO$XGLR
"
+'0,DQG+'0,
0

3&&RQQHFWLRQ7HUPLQDO'VXE3LQ
#
6HUYLFH8VHRQO\
6LGH
%
+HDGSKRQH2XWSXW
&
$9
3$/140
2(",
.






"


!!#/&25.$0-#1'
31#&'.#1,20(#$2/%
+%'/2'&$504/&/%4/&'1#/&
#/&25.$0-#1'1')+23'1'&31#&'.#1,20(04/&/%
#/4(#%341'&4/&'1-+%'/2'
(10.0-$5#$01#301+'2
60-$57#/&3*'&04$-'
25.$0-#1'31#&'.#1,20(
0-$5#$01#301+'2








!"
"
















 


%
&
>([DPSOHPRGHO@
#
background

&211(&7,21FRQWLQXHG
&RQQHFWLQJ3URFHGXUHFRQWLQXHG
&RQQHFWLQJWR([WHUQDO(TXLSPHQW
$
9DQG$9
FDQEHFRQQHFWHGWRWKHHTXLSPHQWZLWK&RPSRQHQWRXWSXW
,I\RXUH[WHUQDOGHYLFHKDVD&RPSRQHQWWHUPLQDO&20321(17FRQQHFWLRQLVUHFRPPHQGHGIRUKLJKHUTXDOLW\SLFWXUH
$9FDQEHFRQQHFWHGWRWKHHTXLSPHQWZLWK&RPSRVLWHRXWSXW
0RQLWRU2XWFDQEHXVHGWRGLVSOD\VDPHLPDJHDVPDLQXQLWRQDQRWKHUPRQLWRU
:KHQWKLVRXWSXWWHUPLQDOLVFRQQHFWHGWRDQH[WHUQDOPRQLWRUZLWKD2KPWHUPLQDOWKHVDPHLPDJHIURP
FRPSRVLWH$969LGHR$9RU5)LQFOXGLQJ'77VLJQDOFDQEHGLVSOD\HGWRWKHH[WHUQDOPRQLWRU

9LGHRRXWSXWLVQRWDYDLODEOHIURPFRPSRQHQW5*%RU+'0,LQSXW





>([DPSOH@
,1 287



>([DPSOH@
287 ,1


 



>([DPSOH@
,1 287
background

&211(&7,21FRQWLQXHG
&RQQHFWLQJ3URFHGXUHFRQWLQXHG
3&FRQQHFWLRQWHUPLQDO'VXESLQ3&5*%+'0,$QDORJ$XGLR,QSXWWHUPLQDODUHFRQQHFWHGWR3&ZKLFKDOORZV$QDORJ5*%VLJQDO
+'0,aWHUPLQDOVFDQEHFRQQHFWHGWRWKHGHYLFHVZLWK+'0,RXWSXW
,IWKHH[WHUQDOGHYLFHKDV'9,RXWSXWWKLVFDQEHDYDLODEOHZLWK+'0,'9,FDEOH,QFDVHRIXVLQJWKH+'0,'9,FDEOHFRQQHFWDQDORJ
DXGLRVLJQDOWR3&5*%+'0,$QDORJ$XGLR,QSXWWHUPLQDO
,QIRUPDWLRQ
+'0,+LJK'H¿QLWLRQ0XOWLPHGLD,QWHUIDFHLVQH[WJHQHUDWLRQPXOWLPHGLD,2LQWHUIDFH2QO\RQHFDEOHLVXVHGWR
WUDQVPLWDOOYLGHRDXGLRFRQWUROVLJQDOVZKLFKFUHDWHVHDV\FRQQHFWLRQ
0RUHRYHUWKRVHGLJLWDOVLJQDOVFDQSURGXFHKLJKTXDOLW\GDWDZLWKRXWDQ\GHJUDGDWLRQ
<RXDUHSURYLGHGZLWKWZR+'0,WHUPLQDOVRQHRIWKHPRVWUHPDUNDEOHIHDWXUHV
,I\RXUH[WHUQDOGHYLFHKDVD+'0,WHUPLQDO+'0,FRQQHFWLRQLVUHFRPPHQGHGIRUKLJKHUTXDOLW\SLFWXUHDQGVRXQG

$ERXW3&5*%+'0,DQDORJDXGLRLQSXWWHUPLQDO
7KLVWHUPLQDOFDQEHXVHGLQRQHRIWKHIROORZLQJFDVHVRQO\
.
7KHH[WHUQDOGHYLFHLVFRQQHFWHGWRWKH3&5*%WHUPLQDO
RIWKH79
3
7KH'9,RXWSXWRIDQH[WHUQDOGHYLFHLVFRQQHFWHGWRWKH
+'0,WHUPLQDOXVLQJWKH+'0,'9,FDEOH
$
7KH'9,RXWSXWRIDQH[WHUQDOGHYLFHLVFRQQHFWHGWRWKH
+'0,WHUPLQDOXVLQJWKH+'0,'9,FDEOH
0DNHVXUHWKDWWKHYLGHRDQGDXGLRWHUPLQDOVDUHFRQQHFWHG
WRWKHVDPHH[WHUQDOGHYLFH
$ERXWWKHRXWSXWIRUPDWRIDQH[WHUQDOGHYLFHUHIHUWR
5HFRPPHQGHG6LJQDO/LVWRQ

3&5*%7HUPLQDO
+'0,7HUPLQDO
+'0,7HUPLQDO







>([DPSOH@
,1 287
+'0,'9,
+'0,+'0,
!



 ".%14-#/,"0&
20"%&-"0+1/'"#1.$
*$&.1&%#4/3.%.$3.%&0".%
".%14-#/,"0&0&(*12&0&%20"%&-"0+1/'/3.%.$
".3'"$230&%3.%&0,*$&.1&
'0/-/,#4"#/0"2/0*&1
5/,#46".%2)&%/3#,&
14-#/,"0&20"%&-"0+1/'
/,#4"#/0"2/0*&1





 


!"
!


















 


3&5*%+'0,$QDORJ$XGLR,QSXW7HUPLQDO
,1 287

RU
>([DPSOH@
background
&211(&7,21FRQWLQXHG
&RQQHFWLQJ3URFHGXUHFRQWLQXHG
2SWLFDO2XW'LJLWDO$XGLRWHUPLQDOFDQEHFRQQHFWHGWRDQDXGLRDPSOL¿HUZLWK2SWLFDO$XGLRLQSXW

7KLVRXWSXWLV'77RXWSXWEXWQRWPRQLWRURXWSXW
$9FDQEHFRQQHFWHGWRWKHHTXLSPHQWZLWK69LGHRRXWSXWDQGFRPSRVLWHRXWSXW
,I\RXUH[WHUQDOGHYLFHKDV6YLGHRWHUPLQDO69,'(2FRQQHFWLRQLVUHFRPPHQGHGIRUKLJKHUTXDOLW\SLFWXUH

,IERWK6YLGHRDQGYLGHRLQSXWWHUPLQDOVRI$9DUHFRQQHFWHGDWWKHVDPHWLPH6YLGHRZLOOKDYHLWVSULRULW\
+HDGSKRQH
7KHDXGLRIURPWKHVSHDNHUZLOOEHPXWHGZKHQFRQQHFWLQJWKHKHDGSKRQHWRWKLVWHUPLQDO
&RQQHFWLQJWKHSOXJLQWRWKHZDOOVRFNHW
&RQQHFWWKHSRZHUFRUGDIWHUFRPSOHWLQJDOORWKHUFRQQHFWLRQV




>([DPSOH@
,1 287
0LQL6WHUHRSOXJ
>([DPSOH@
6WHUHR6\VWHP$PSOL¿HU
287 ,1
&$87,21
8VHRQO\WKHSRZHUFRUGSURYLGHG
'RQRWXVHDSRZHUVXSSO\YROWDJHRWKHUWKDQWKDWLQGLFDWHG$&9+],WPD\FDXVH¿UHRUHOHFWULFVKRFN
)RUWKHSODVPDWHOHYLVLRQDWKUHHFRUHSRZHUFRUGZLWKDJURXQGWHUPLQDOLVXVHGIRUHI¿FLHQF\SURWHFWLRQ$OZD\VEH
VXUHWRFRQQHFWWKH
SRZHUFRUG
WRDWKUHHSURQJHGJURXQGHGRXWOHWDQGPDNHVXUHWKDWWKHFRUGLVSURSHUO\JURXQGHG
,I\RXXVHDSRZHUVRXUFHFRQYHUWHUSOXJXVHDQRXWOHWZLWKDJURXQGWHUPLQDODQGVFUHZGRZQWKHJURXQGOLQH
(QVXUHWKDWERWKHQGVRISRZHUFRUGDUHHDVLO\DFFHVVLEOH
,I\RXKDYHWRFKDQJHWKHSRZHUFRUGSOHDVHXVHWKHFHUWL¿HGSRZHUFRUGWKDWPHHWV\RXUUHJLRQ¶VVDIHW\VWDQGDUG
background

&211(&7,21FRQWLQXHG
&RQQHFWLQJ3URFHGXUHFRQWLQXHG
,QIRUPDWLRQ
+RZWRVHFXUHWKHSRZHUFRUGDQGFDEOHV
6WHS6HFXUHWKHSRZHUFRUG
$IWHUFRQQHFWLQJSRZHUFRUGWRWKHUHDUSDQHOVHFXUHWKHSRZHUFRUGZLWKWKHFODPS
!



".%14-#/,"0&
20"%&-"0+1/'"#1.$
*$&.1&%#4/3.%.$3.%&0".%
".%14-#/,"0&0&(*12&0&%20"%&-"0+1/'/3.%.$
".3'"$230&%3.%&0,*$&.1&
'0/-/,#4"#/0"2/0*&1
5/,#46".%2)&%/3#,&
14-#/,"0&20"%&-"0+1/'
/,#4"#/0"2/0*&1





 


!"
!


















 


/DUJHFODPS
6WHS6HFXUHDOOFDEOHV
6HFXUHDOOFDEOHVWRJHWKHUZLWKSRZHUFRUGE\XVLQJODUJHFODPS

7KHW\SHRIWKHODUJHFODPSGHSHQGVRQPRGHO
:KHQ\RXVHFXUHWKHFDEOHVSOHDVHEHFDUHIXOQRWWRWLJKWHQWRRPXFK
 ,#/2+
0. #$+ .)/-% !/
,
,1%
%.-+
3-*!
2
/2+!
-
-*!2



 


!"



&ODPSIRUSRZHUFRUG
>([DPSOHPRGHO@
>([DPSOHPRGHO@
+RZWRVHFXUHWKHODUJHFODPS
>PRGHO@
7RVHW
7RXQIDVWHQ
>PRGHO@
7RVHW
7RXQIDVWHQ
6HWWKHFODPS
LQWKHGLUHFWLRQ
RIWKHDUURZ
/RRVHQWKH
KRRNDQGSXOO
LQWKHGLUHFWLRQ
RIWKHDUURZ
+RRN
3XVKWKHFODPS
LQWKHGLUHFWLRQRI
WKHDUURZXQWLOLW
FOLFNV
:KLOHSXVKLQJWKH
NQRESXOOLWLQWKH
GLUHFWLRQRIWKH
DUURZ
.QRE
background

%$6,&23(5$7,21
3RZHU2Q2II
1RZWXUQ2QWKHSRZHURIWKHXQLW
7RWXUQ2QWKHSRZHURIWKHXQLW
0DNHVXUHWKDWWKHSRZHUFRUGKDVSOXJJHGLQWRWKHZDOOVRFNHW
7KH,QGLFDWLQJ/DPSZLOOLOOXPLQDWHVLQ5HG6WDQGE\PRGH
3UHVVHLWKHU3RZHU2Q2IIEXWWRQRQWKHXQLWRU3RZHU2Q2II
EXWWRQRQWKHUHPRWHFRQWURO
7KHFRORURIWKH,QGLFDWLQJ/DPSWXUQVLQWR*UHHQDQGWKHLPDJHZLOO
GLVSOD\RQWKHVFUHHQ
7RWXUQ2IIWKHSRZHURIWKHXQLW
3UHVVHLWKHU3RZHU2Q2IIEXWWRQRQWKHXQLWRU3RZHU2Q2IIEXWWRQ
RQWKHUHPRWHFRQWURO
7KHLPDJHGLVDSSHDUVIURPWKHVFUHHQDQGWKH,QGLFDWLQJ/DPSWXUQV
LQWR5HG6WDQGE\PRGH
8QSOXJWKHSRZHUFRUGLQFDVHWKDW\RXZDQWWRWXUQ2IIWKHSRZHURIWKH
XQLWFRPSOHWHO\
7KH,QGLFDWLQJ/DPS6WDWXV
,QGLFDWLQJ/DPS
6WDWXV
3RZHU6WDWXV 5HPDUN
2II 2II 3RZHU&RUGĺ8QSOXJJHG
5HG 6WDQGE\PRGH ±
*UHHQ 2
2UDQJH 3RZHU6DYHPRGH 5HIHUWR

DQG

DERXWWKHFRQGLWLRQ

,IWKHLPDJHGRHVQRWDSSHDURQWKHVFUHHQDWDOORUKDYHDQ\SUREOHPVHH7528%/(6+227,1*RQ

a

,W
PD\KHOS\RXWRVROYHWKHSUREOHPV
$IWHUWXUQLQJ2QLWWDNHVDERXWVHFRQGVXQWLO79LVVWDUWHGXS3OHDVHQRWHWKDWEXWWRQVRQWKHUHPRWHFRQWURO
DQGWKHXQLWVXFKDV3RZHU2Q2IIEXWWRQGRQRWZRUNGXULQJWKHWLPH
'RQRWVZLWFKWKHSRZHU2Q2IIUHSHDWHGO\LQDVKRUWSHULRGRIWLPH,WFRXOGFDXVHPDOIXQFWLRQ
7RDYRLGVXGGHQVXUJHVRIHOHFWULFLW\ZKHQWKHSRZHUFRPHVEDFNRQXQSOXJWKHSRZHUFRUGEHIRUH\RXOHDYHLI
WKHUHLVDSRZHUFXWGXULQJXVHRIWKHXQLW
3RZHU2Q2IIEXWWRQ
!



 ".%14-#/,"0&
20"%&-"0+1/'"#1.$
*$&.1&%#4/3.%.$3.%&0".%
".%14-#/,"0&0&(*12&0&%20"%&-"0+1/'/3.%.$
".3'"$230&%3.%&0,*$&.1&
'0/-/,#4"#/0"2/0*&1
5/,#46".%2)&%/3#,&
14-#/,"0&20"%&-"0+1/'
/,#4"#/0"2/0*&1





 


!"
!


















 


>([DPSOHPRGHO@
3RZHU2Q2IIEXWWRQ
background

%$6,&23(5$7,21FRQWLQXHG
9ROXPH83'2:1
7R LQFUHDVHWKHVRXQGYROXPHSUHVV EXWWRQRQWKHUHPRWHFRQWURO
RU9ROXPH8SEXWWRQRQWKHFRQWUROSDQHO
7KH9ROXPH,QGLFDWRUYDOXHRQWKHVFUHHQZLOOVKLIWULJKW
7RGHFUHDVHWKHVRXQGYROXPHSUHVV EXWWRQRQWKH
UHPRWHFRQWURORU9ROXPH'RZQEXWWRQRQWKHFRQWUROSDQHO
7KH9ROXPH,QGLFDWRUYDOXHRQWKHVFUHHQZLOOVKLIWOHIW
0XWH
7RPXWHWKHVRXQGSUHVV EXWWRQRQWKHUHPRWHFRQWURO
7KHVRXQGRIWKHXQLWLVWHPSRUDULO\WXUQHG2II
7KHFRORURIWKH9ROXPH,QGLFDWRUZLOOWXUQLQWRPDJHQWD
ZKLOHPXWLQJWKHYROXPH
7R WXUQWKHVRXQGEDFNSUHVV EXWWRQDJDLQRU9ROXPH8SEXWWRQRQ
HLWKHUUHPRWHFRQWURORUWKHFRQWUROSDQHO
7KHFRORURIWKH9ROXPH,QGLFDWRUZLOOWXUQEDFNWRJUHHQ

<RXFDQGHFUHDVHWKHYROXPHE\SUHVVLQJ EXWWRQ
ZKLOHWKHVRXQGLVPXWHG
7KH9ROXPH,QGLFDWRU

9ROXPH8S'RZQEXWWRQ
0XWHEXWWRQ
9ROXPH8S'RZQEXWWRQ
background

%$6,&23(5$7,21FRQWLQXHG
,QSXW6ZLWFKLQJWR'7779$9a+'0,aDQG5*%
%\SUHVVLQJ,QSXW6HOHFWEXWWRQ\RXFDQVZLWFKWKHLQSXW
7RZDWFKDFWXDOEURDGFDVWSUHVV,QSXW6HOHFWEXWWRQRQWKHFRQWUROSDQHO
WKHQXPHULFEXWWRQVRU&KDQQHO8S'RZQEXWWRQRQWKHUHPRWHFRQWURO
7RGLVSOD\WKHLPDJHRXWSXWWLQJIURPWKHH[WHUQDOHTXLSPHQWFRQQHFWHGWRHDFKWHUPLQDO
'7779$9a+'0,aDQG5*%VHOHFWFRUUHVSRQGLQJPRGH
3UHVV,QSXW6HOHFWEXWWRQVRQWKHUHPRWHFRQWURO
8VH
'7779
EXWWRQWRVZLWFKEHWZHHQ'77DQG79PRGH

7KH,QSXWPRGHVFDQEHDOVRVZLWFKHGE\XVLQJ,QSXW6HOHFWEXWWRQRQWKHFRQWUROSDQHO
(DFKWLPHWKLVEXWWRQLVSUHVVHGWKHVFUHHQGLVSOD\VFRUUHVSRQGLQJPRGHE\IROORZLQJRUGHU
    

7R GLUHFWO\JREDFNWR79PRGHSUHVVLQJ&KDQQHO8S'RZQEXWWRQVRQ
HLWKHUUHPRWHFRQWURORUWKHFRQWUROSDQHO
$OVR\RXFDQXVHWKHQXPHULFEXWWRQVRQWKHUHPRWHFRQWURO
,QSXW6LJQDO6FUHHQ'LVSOD\
7KHLQSXWVLJQDOVWDWXVFDQEHGLVSOD\HGRQWKHVFUHHQE\SUHVVLQJWKH
EXWWRQ
RIWKHUHPRWHFRQWURO
7KHGLVSOD\LQ'77PRGHZLOODSSHDUDVFKDQJLQJWKHFKDQQHOVDQGJRRXWLQVHWWLPH5HIHU
WR

7KHGLVSOD\LQ79$95*%PRGHZLOOJRRXWLQDSSUR[LPDWHO\VHFRQGV

7KLVGLVSOD\VFRORUV\VWHPLQ79$9DQG$9PRGHLIWKHVHWWLQJRI&RORU6\VWHPLVH[FHSW$XWR6HH

DQG

&RPSRQHQW+'0,RQO\
,QSXW6HOHFW
EXWWRQV
&KDQQHO
8S'RZQEXWWRQ




2IIWLPHU
79SRVLWLRQ
6WDWLRQQDPH
6RXQGPRGH
&RORUV\VWHP
79





,QSXWPRGH
,QSXWKRUL]RQWDO
IUHTXHQF\
,QSXWYHUWLFDO
IUHTXHQF\
5*%




R

,QSXWPRGH
6LJQDOPRGH
6LJQDOIRUPDW
&RORUV\VWHP
$9








6LJQDO7\SH
5DWLQJ
3URJUDPQDPH
&XUUHQWWLPH
'77
6WDUWWLPH
(QGWLPH
3URJUDPSURJUHVVLQGLFDWRU
2IIWLPHU
2IIWLPHU
5HFDOO
EXWWRQ
&KDQQHOQXPEHU
&KDQQHOQDPH
,QSXW6HOHFW
&KDQQHO
8S'RZQEXWWRQ
background
796(78323(5$7,21
+RZWRXVHWKH2Q6FUHHQ'LVSOD\26'V\VWHP
:LWKWKH2Q6FUHHQ'LVSOD\V\VWHP\RXFDQDFFHVVWKHYDULRXVNLQGVRIWKHIHDWXUHVDQGIXQFWLRQVLQWKLVSURGXFW
%DVLF2SHUDWLRQ

3UHVV

EXWWRQRQWKHUHPRWHFRQWURORU0HQXEXWWRQRQWKHFRQWUROSDQHO
RIWKHXQLW7KH0DLQ0HQXLVGLVSOD\HGRQWKHVFUHHQDVVKRZQRQWKHULJKW

7RVHOHFWWKHLWHPSUHVV

EXWWRQ
7KHVHOHFWHGLWHPZLOOEHKLJKOLJKWHGLQ<HOORZ
3UHVV

EXWWRQWRVHW\RXUVHOHFWLRQ
7KHVHOHFWHGPHQXSDJHZLOOEHGLVSOD\HGRQWKHVFUHHQ
8VH

EXWWRQWRFKRRVHWKHLWHPRQWKH0(18SDJH
3UHVV

EXWWRQWRVHW\RXUVHOHFWLRQ
8VH

EXWWRQWRDGMXVWWKHLWHPYDOXHVRUFKRRVHRSWLRQV
3UHVV

EXWWRQWRVHW\RXUVHOHFWLRQ
7RH[LWIURPWKHPHQXSUHVV

EXWWRQ

7KH26'PHQXVFUHHQZLOOEHFORVHGDXWRPDWLFDOO\ZKHQQRRSHUDWLRQKDV
EHHQPDGHIRUDERXWRQHPLQXWH
,IWKHLWHPLQPHQXLVVKRZQLQJUD\LWPHDQVWKDWLWFDQQRWEHVHOHFWHGRU
DGMXVWHG
790DLQ0HQX!





0HQXEXWWRQ
0HQXEXWWRQ
background
796(78323(5$7,21FRQWLQXHG
79$95*%0DLQ0HQX/LVW
0HQX 3DJH
3LFWXUH79$9
3LFWXUH0RGH
&RQWUDVW
%ULJKWQHVV
&RORU
6KDUSQHVV
7LQW
&RORU7HPSHUDWXUH
&RQWUDVW0RGH
5HVHW
'&RORU0DQDJHPHQW
%ODFN(QKDQFHPHQW
'15
03(*15
)LOP0RGH
'&RPE)LOWHU
5HVHW
&RORU7HPS$GMXVW
3LFWXUH5*%
&RQWUDVW 
%ULJKWQHVV 
&RORU 
7LQW 
&RORU7HPSHUDWXUH 
&RORU7HPS$GMXVW 
5HVHW 
$XGLR
$XGLR0RGH
7
UHEOH
%DVV
%DODQFH
656
7UX%DVV
)RFXV
%%(
3HUIHFW9ROXPH
796SHDNHUV
5HVHW
0HQX 3DJH
)XQFWLRQ
6FUHHQ6DYHU
6FUHHQ:LSH
%ODFN6LGH3DQHO 
9LGHR3RZHU6DYH 
)UHH]H0RGH 
'HIDXOW=RRP 
(FR0RGH 
3LFWXUH6L]H 
3DQHO0RGH 
5HVHW
6HWXS79
$XWR7XQLQJ
0RGH
6HDUFK
0DQXDO7XQLQJ
3RVLWLRQ
)UHTXHQF\
1DPH
6RXQG6\VWHP
&RORU6\VWHP
6NLS
15
/XPLQDQFH/HYHO
$QWHQQD$WW
)LQH7XQLQJ
6RUW
7HOHWH[W/DQJXDJH 
$XWR2II 
6HWXS$9
6\VWHP

&RORU6\VWHP 
6HWXS5*%
$XWR$GMXVW
+RUL]RQWDO3RVLWLRQ
9HUWLFDO3RVLWLRQ
+RUL]RQWDO&ORFN
&ORFN3KDVH
5HVHW
)UHTXHQF\'LVSOD\
:;*$0RGH
background
796(78323(5$7,21FRQWLQXHG
,QVWDOOLQJDQG6HWWLQJ&KDQQHOV
<RXFDQLQVWDOOFKDQQHOVDQGPDNHWKHYDULRXVVHWWLQJVUHODWHGFKDQQHOV
3UHVV

EXWWRQ
6HOHFW³6HWXS´PHQXDQGSUHVV

EXWWRQ
6HOHFWWKHSUHIHUUHGPHQXLWHPDQGSUHVV

EXWWRQ
6HOHFWHG,WHPV 6HWXSKLQW
$XWR7XQLQJ
0RGH
3RVLWLRQ
6HDUFKHVHYHU\FKDQQHO6WRUHWKHFKDQQHOVLQRUGHURI
WXQLQJa$9
'LUHFW
6HDUFKHVDYDLODEOHFKDQQHO6WRUHWKHFKDQQHOVLQ¿[HG
QXPEHUDFFRUGLQJWREURDGFDVWLQJVWDQGDUG
7KHFKDQQHOQXPEHUaDQGaDUHGLVSOD\HGDV& 
DQGWKHFKDQQHOQXPEHUaDUHGLVSOD\HGDV6
6HDUFK
7XQHWKHORFDOFKDQQHOVDXWRPDWLFDOO\
3UHVV

EXWWRQWRVWDUWVHDUFKLQJ
0DQXDO7XQLQJ
3RVLWLRQ
3UHVVFKDQQHOXSGRZQEXWWRQVWRLQSXWSRVLWLRQ
QXPEHUa$9RUFKDQQHOQXPEHU&
RU6 
)UHTXHQF\
6HDUFKWKHIUHTXHQF\E\XVLQJ

EXWWRQZKHQ$XWR
7XQLQJ0RGHLVVHWWR>SRVLWLRQ@
:KHQ$XWR7XQLQJ0RGHLVVHWWR>'LUHFW@WKLVIXQFWLRQLV
QRWDYDLODEOHJUD\HGRXW
1DPH
0RYHWKHFXUVRUWRWKH¿UVWGLJLWDQGVHOHFWWKHOHWWHUV
ZLWK

EXWWRQ
0RYHWRWKHQH[WGLJLWZLWKŹEXWWRQ
3UHVV

EXWWRQDJDLQZKHQ\RX¿QLVKLQSXWWLQJDOOWKH
OHWWHUV
7KHVHOHFWDEOHOHWWHUVDUHDVIROORZV³´a´´³$´a´=´³´
³´EODQN³´DQG³´SHULRG
6RXQG
6\VWHP
$XWR
6HOHFW>$XWR@QRUPDOO\
,QFDVHWKDWVRXQGLVQRWRXWSXWFRUUHFWO\VHOHFWWKHRWKHU
PRGHVGHSHQGLQJRQWKHUHFHLYHGVLJQDO
0
%*
,
'.
&RORU
6\VWHP
$XWR
6HOHFW>$XWR@QRUPDOO\
,QFDVHWKDWFRORULVQRWGLVSOD\HGFRUUHFWO\VHOHFWWKH
RWKHUPRGHVGHSHQGLQJRQWKHUHFHLYHGVLJQDO
3$
/
6(&$0
176&
176&
6NLS
2II
,WDOORZV\RXWRVNLSXQUHJLVWHUHGFKDQQHOVDXWRPDWLFDOO\ZKHQ\RXXVH
FKDQQHOXSGRZQEXWWRQVWRVHOHFWFKDQQHOV
7KLVIXQFWLRQZLOODXWRPDWLFDOO\VNLSXQDYDLODEOHFKDQQHOVZKHQVHWWRRQ
2Q
15
2II
7KHQRLVHRQWKHVFUHHQRULQWHUIHUHQFHFRXOGEHUHGXFHG
HVSHFLDOO\DWWKHDUHDRIZHDNHOHFWULF¿HOG
2Q






 

background
796(78323(5$7,21FRQWLQXHG
,QVWDOOLQJDQG6HWWLQJ&KDQQHOVFRQWLQXHG
6HOHFWHG,WHPV 6HWXSKLQW
0DQXDO7XQLQJ
/XPLQDQFH
/HYHO
1RUPDO
7KLVKHOSVWRUHGXFHVDWXUDWLRQE\ORZHULQJFRQWUDVW
$WW
$QWHQQD$WW
2II
7KHQRLVHRQWKHVFUHHQRULQWHUIHUHQFHFRXOGEHUHGXFHG
LQFDVHWKDWWKHUHFHLYLQJ¿HOGVWUHQJWKLVWRRVWURQJ
7KHVHOHFWLRQRQWKLVLWHPLVDSSOLHGWRDOOWKHFKDQQHOV
2Q
)LQH7XQLQJ a
Ź,QFUHDVHWKHIUHTXHQF\GDWDIRUWKHDQDORJWXQHU
Ż'HFUHDVHWKHIUHTXHQF\GDWDIRUWKHDQDORJWXQHU
6RUW
<RXFDQFKDQJHWKHRUGHURIFKDQQHOVDVIROORZV
0RYHWKHFXUVRUWRWKHFKDQQHOURZ\RXZDQWWRFKDQJH
RUGHUDQGWKHQSUHVV

EXWWRQ
7KHFRORURIWKHOHWWHUVRQWKHGHVLJQDWHGOLQHZLOOEH
WXUQHGLQWR\HOORZEUDFNHWDQGZLWK>@
0RYHWKHGHVLJQDWHGURZE\XVLQJ

EXWWRQ
3UHVV

EXWWRQWR¿[WKHSRVLWLRQ
7KLVIXQFWLRQLVQRWDYDLODEOHJUD\HGRXWZKHQWKH$XWR
7XQLQJ0RGHLVVHWWR>'LUHFW@
,QIRUPDWLRQ

8VH$9ZKHQFRQQHFWLQJHTXLSPHQWVXFKDVD9&5YLDDQ5)DHULDOW\SHFDEOH
,QRUGHUWRVHOHFW³$9´SUHVV&KDQQHO8S'RZQEXWWRQ
&KDQQHO6HOHFWLRQV
7KHUHDUHZD\VWRVHOHFWWKHFKDQQHOVVWHSSLQJWKURXJKWKH
FKDQQHODQGVHOHFWLQJE\QXPEHU
6WHSSLQJWKURXJKWKH&KDQQHO
3UHVV&KDQQHO8S'RZQEXWWRQWRVZLWFKWKHQH[WRUSUHYLRXVFKDQQHORQWKHOLVW
6HOHFWLQJE\1XPEHU
(QWHUWKHQXPEHURIDFTXLUHGFKDQQHOE\XVLQJQXPHULFEXWWRQVRQWKHUHPRWHFRQWURO
7KHVHOHFWDEOHFKDQQHOQXPEHUDQGPHWKRGGLIIHUGHSHQGLQJRQWKHPRGHV
3RVLWLRQRU'LUHFWRI$XWRWXQLQJ6HH

IRUWKHGHWDLOV
,I\RXKDYHWXQHGFKDQQHOVZLWK3RVLWLRQPRGH
7KHSRVLWLRQQXPEHURIaRIZKLFK\RXKDYHWXQHGZLWK3RVLWLRQPRGHFDQEHVHOHFWHGE\XVLQJQXPHULFEXWWRQVRQ
WKHUHPRWHFRQWURO,QFDVHWKDWWKHQXPEHULVRUGLJLWVVHWXSWKHGLJLWQXPEHULQDGYDQFHZLWKWKHIROORZLQJPHWKRG
3UHVV EXWWRQRQWKHUHPRWHFRQWURO
,QSXWVLJQDOVFUHHQGLVSOD\ZLOODSSHDU6HH


3UHVV
EXWWRQDJDLQGXULQJWKHGLVSOD\
7KHVHWXSVFUHHQIRUGLJLWQXPEHUVKRZVXS
(DFKWLPH
EXWWRQLVSUHVVHGLWFKDQJHVLQWKHIROORZLQJVHTXHQFH

 
6HOHFWRUZKHQ\RXZDQWWRVHOHFWRUGLJLWVFKDQQHO
,I\RXKDYHWXQHGFKDQQHOVZLWK'LUHFWPRGH
,QSXWWKHQXPEHUaGLVSOD\HGDV&a&RUaGLVSOD\HGDV&a&RUaGLVSOD\HGDV6a6E\
XVLQJQXPHULFEXWWRQRQWKHUHPRWHFRQWURO
&KDQQHO
8S'RZQEXWWRQ
&KDQQHO8S'RZQEXWWRQ
background
796(78323(5$7,21FRQWLQXHG
3LFWXUH6HWWLQJ
<RXFDQPDNHVSHFL¿FDGMXVWPHQWVIRUWKHSLFWXUHEDVHGRQ\RXUSUHIHUHQFH

3UHVV

EXWWRQ

6HOHFW³3LFWXUH´PHQXDQGSUHVV

EXWWRQ
6HOHFWWKHSUHIHUUHGPHQXLWHPDQGSUHVV

EXWWRQ
%\SUHVVLQJźEXWWRQDWWKHERWWRPRIHDFKPHQXSDJHWKHQH[W3LFWXUHPHQXZLOODSSHDURQWKHVFUHHQ


3OHDVHVHH

DERXWSLFWXUHVHWWLQJRI3&
6HOHFWHG,WHPV 6HWXSKLQW
3LFWXUH0RGH
'\QDPLF
<RXFDQPDNHWKHEHVWVHOHFWLRQIURPPRGHVGHSHQGLQJ
RQWKHOLJKWLQJFRQGLWLRQDQGLQWHQGHGXVH
'\QDPLF6XLWDEOHIRUWKHEULJKWHUFRQGLWLRQ
1DWXUDO6XLWDEOHIRUWKHQRUPDOOLJKWLQJFRQGLWLRQ
&LQHPD6XLWDEOHIRUZDWFKLQJPRYLH
1DWXUDO
&LQHPD
&RQWUDVW
a
a
7KLVDGMXVWVWKHFRQWUDVWWRPHHWWKHOLJKWLQJHQYLURQPHQW
E\XVLQJ

EXWWRQ
7KHPD[LPXPYDOXHFDQEHH[WHQGHGWR>@E\SUHVVLQJDQG
KROGLQJ
Ź
EXWWRQDW>@ZKLFKFKDQJHVWKHFRORUEHWZHHQ
WKRVHQXPEHUVIURP\HOORZWRPDJHQWD7KLVLVWKHVSHFLDO
IHDWXUHSUHSDUHGIRUWKHGDUNVFHQHV$WWKHQRUPDOFRQGLWLRQLW
LVUHFRPPHQGHGWRVHWWKHYDOXHOHVVWKDQ>@
%ULJKWQHVV a
:LWKWKLVIXQFWLRQEODFNFRORULVDGMXVWHGWRFKDQJHWKH
RYHUDOOEULJKWQHVVE\XVLQJ

EXWWRQ
&RORU a
,WFDQDGMXVWFRORUGHQVLW\EDVHGRQ\RXUSUHIHUHQFHE\
XVLQJ

EXWWRQ
6KDUSQHVV a
3UHIHUUHGVKDUSQHVVFDQEHDGMXVWHGE\SUHVVLQJŻEXWWRQ
IRUVRIWHULPDJHRUŹEXWWRQIRUVKDUSHULPDJH
7LQW a
3UHVVLQJ
Ż
EXWWRQHQKDQFHVUHGDQGZHDNHQVJUHHQZKLOH
SUHVVLQJ
Ź
EXWWRQZHDNHQVUHGDQGHQKDQFHVJUHHQ7KH
VHWXSKLQWLVDGMXVWLQJIRUWKHUHDOLVWLFVNLQFRORU
&RORU7HPSHUDWXUH
&RRO
<RXFDQVHOHFWIURPVHWWLQJVGHIDXOWGHSHQGLQJRQWKH
FRORUFRQGLWLRQZLWK

EXWWRQ
1RUPDO
:DUP
&RQWUDVW0RGH
'\QDPLF
,WDOORZV\RXWRFKRRVHIURPPRGHV
'\QDPLF6KDUSHQWKHJUDGDWLRQWRLPSURYHWKHFRQWUDVWIHHOLQJ
1RUPDO,PSURYHWKHFRQWUDVWIHHOLQJWRUHSURGXFHDIDLWKIXOJUDGDWLRQ
/LQHDU5HSURGXFHDVIDLWKIXOJUDGDWLRQDVSRVVLEOH
1RUPDO
/LQHDU
 !
 ! "
   
 #

 
 
 ! 
   
 
   !
! "



 
 
 
 
 
 
   !
 


background
796(78323(5$7,21FRQWLQXHG
3LFWXUH6HWWLQJFRQWLQXHG
6HOHFWHG,WHPV 6HWXSKLQW
5HVHW
(DFKLWHPRQWKLVPHQXVFUHHQFDQEHUHVWRUHGWRWKH
RULJLQDOIDFWRU\VHWWLQJVE\SUHVVLQJ

EXWWRQ
'&RORU0DQDJHPHQW
2II
2Q
,WDXWRPDWLFDOO\DGMXVWVWKHVXLWDEOHWLQWFRORUGHQVLW\DQGEULJKWQHVVRQLPDJHV
2II6HWLWRIILIWKHLPDJHGRHVQRWORRNQDWXUDO
2Q
%ODFN(QKDQFHPHQW
2II
$GMXVWVWKHEODFNOHYHOFRPSHQVDWLRQ
/RZ
0LGGOH
+LJK
'15
2II
7KLVLVDQRLVHUHGXFWLRQV\VWHPIRUSLFWXUHVLJQDO
/RZ
0LGGOH
+LJK
03(*15
2II
7KLVLVDQRLVHUHGXFWLRQV\VWHPIRU03(*SLFWXUHVLJQDO
H[DJDLQVWPRVTXLWRQRLVHDQGEORFNQRLVH
/RZ
+LJK
)LOP0RGH
2I
I
2Q$XWRPDWLFDOO\LGHQWLI\LILWLVWKHPRYLH¿OPDQG
IDLWKIXOO\UHSURGXFHVWKHRULJLQDO¿OPLPDJHV
2II 6HWWR2IILIWKHLPDJHVGRHVQRWORRNQDWXUDO
2Q
'&RPE)LOWHU
2II
7KLVLVDYDLODEOHRQO\ZKHQUHFHLYLQJ176&3$/
FRPSRVLWHVLJQDO7KLVUHGXFHVWKHGRWDQGFRORUEOXUULQJLQ
PLQXWHVFDOHVVRWKDWLWFDQUHSURGXFHSXUHUFRORU
7KLVLVQRWDYDLODEOHIRU176&3
$/3$/1DQG
3$/0V\VWHP
/RZ
0LGGOH
+LJK
5HVHW
(DFKLWHPRQWKLVPHQXVFUHHQFDQEHUHVWRUHGWRWKH
RULJLQDOIDFWRU\VHWWLQJVE\SUHVVLQJ

EXWWRQ
&RORU7HPS$GMXVW
2Q
$PSOLWXGH
2Q:KHQ\RXZDQWWRVHWVSHFL¿FDGMXVWPHQWVLQHDFKRI
WKH&RORU7HPSHUDWXUHPRGHV<RXFDQDGMXVWRQWKH
DPSOLWXGHDQGFXWRII7KHVHWWLQJVUHÀHFWRQWKH&RORU
7HPSHUDWXUH
$PSOLWXGHVXEGXHWKHFRORUV5HG*UHHQ%OXHRQWKH
EULJKWHUSDUWVa
&XWRIIVXEGXHWKHFRORUV5HG*UHHQ%OXHRQ
WKHGDUNHUSDUWVa
2I
I5HPDLQVDVGHIDXOWVHWWLQJ
5HG
*UHHQ
%OXH
&XWRII
5HG
*UHHQ
%OXH
2II
background
796(78323(5$7,21FRQWLQXHG
$XGLR6HWWLQJ
<RXFDQDGMXVWDQGFXVWRPL]HWKHDXGLRFRQGLWLRQDV\RXOLNH

3UHVV

EXWWRQ

6HOHFW³$XGLR´PHQXDQGSUHVV

EXWWRQ
6HOHFWWKHSUHIHUUHGPHQXLWHPDQGSUHVV

EXWWRQ
6HOHFWHG,WHPV 6HWXSKLQW
$XGLR0RGH
0RYLH
<RXFDQVHOHFWWKHPRVWVXLWDEOHVRXQGFRQGLWLRQIURP
DOWHUQDWLYHVDFFRUGLQJWRWKHFRQWHQWV
,I\RXZDQWWRDGMXVWHDFKLWHPYDOXHEDVHGRQ\RXU
SUHIHUHQFHVHOHFW³)DYRULWH´
0XVLF
6SHHFK
)DYRULWH
7UHEOH a $GMXVWWKH7UHEOH
%DVV a $GMXVWWKH%DVV
%DODQFH a
$GMXVWWKHEDODQFHRIWKHVRXQGIURPERWWRPULJKWDQGOHIW
VSHDNHUV
656
2II
7KLVV\VWHPJLYHV\RXWKHG\QDPLF'VRXQG1RUPDO
:LGH
7UX%DVV
2II
7UX%DVVJLYHV\RXWKHHQKDQFHGEDVVVRXQG
6HOHFWLWGHSHQGLQJRQ\RXUSUHIHUHQFH
/RZ
+LJK
)RFXV
2II
7KLVJLYHV\RXPRUHQDWXUDODQGUHDOLVWLFVRXQGE\VKLIWLQJ
XSDXGLRLPDJHVRXQGLPDJH%\PDNLQJFOHDURXWOLQHRI
VRXQGLWJHWVHDVLHUWRKHDUVSHDNLQJYRLFHVXFKDVQHZV
/RZ
+LJK
%%(
2I
I
%%(+LJK'H¿QLWLRQ6RXQGUHVWRUHVFODULW\DQGSUHVHQFH
IRUEHWWHUVSHHFKLQWHOOLJLELOLW\DQGPXVLFDOUHDOLVP
6HOHFWLWGHSHQGLQJRQ\RXUSUHIHUHQFH
/RZ
+LJK
3HUIHFW9ROXPH
2II
,WZLOODXWRPDWLFDOO\DGMXVWWKHYROXPHWRLWVDYHUDJHOHYHO
HDFKWLPH\RXFKDQJHWKHFKDQQHO
2Q
796SHDNHUV
2II
7KLVQHHGVWREHVZLWFKHGWR2I
IZKHQ\RXZDQWWROLVWHQ
WRDXGLRIURPH[WHUQDOHTXLSPHQW
,WLVQRUPDOO\VHWWR2QZKHQ\RXRSHUDWHWKHVHWXVLQJ
WKHEXLOWLQVSHDNHUV
2Q
5HVHW
5HVHWDOOWKHVHWYDOXHVRQWKLV0HQX3DJHWRWKHRULJLQDO
IDFWRU\VHWWLQJV
#
#
$
  
!! &
 

 
 #!!  %
#!  
  %
 "#  
 ! 
!" !"
"""# 
background

796(78323(5$7,21FRQWLQXHG
$XGLR6ZLWFKLQJ79
1,&$06RXQG0XOWLSOH[LQFOXGLQJ$79PRGH
<RXFDQPDNHRSWLPXPXVHRIDYDLODEOHDXGLRE\SUHVVLQJ
EXWWRQRIUHPRWHFRQWURO$XGLRFDQEHVZLWFKHGRQO\LI
UHFHLYLQJ1,&$0DQGVRXQGPXOWLSOH[VLJQDOVRWKHUZLVHSUHVVLQJWKLVEXWWRQZLOOKDYHQRHIIHFWVXFKDVZKHQRQO\
PRQRVRXQGLVUHFHLYHG
7KHVHFDQEHGLYLGHGLQWRWZRPDLQFDWHJRULHV%LOLQJXDO'XDO6RXQGEURDGFDVWDQG6WHUHREURDGFDVW
%LOLQJXDO'XDO6RXQG%URDGFDVW
%LOLQJXDOEURDGFDVWLVWKHEURDGFDVWDYDLODEOHRQWKHPDLQDQGVXEODQJXDJHVZKLOHGXDOVRXQGEURDGFDVWLV
DYDLODEOHRQWKHSULPDU\DQGVHFRQGDU\VRXQGVIRUH[DPSOHVRPHVSRUWVSURJUDPVFRQWDLQEURDGFDVWFRPPHQWDU\
RQDJDPHDVSULPDU\VRXQGDQGDFRPPHQWDU\DERXWDWHDPDVWKHVHFRQGDU\
:KHQELOLQJXDOSURJUDPLVUHFHLYHGVRXQGPRGHGLVSOD\DSSHDUVLQ\HOORZDVVKRZQ$OVRZKHQUHFHLYLQJ1,&$0
VLJQDOV1,&$0GLVSOD\ZLOODSSHDU
(DFKWLPH EXWWRQLVSUHVVHGWKHGLVSOD\LVVZLWFKHGLQWKHVHTXHQFHRIIROORZLQJ





 
 
 

>
,
@«0DLQODQJXDJH3ULPDU\6RXQG
>
,,
@6XEODQJXDJH6HFRQGDU\6RXQG
ź«IRUFHPRQR7KLVVHOHFWVPDLQODQJXDJHRUSULPDU\VRXQG
6WHUHR%URDGFDVW
:LWKVWHUHREURDGFDVW\RXFDQHQMR\GLIIHUHQWVRXQGIURPHLWKHUVLGH
:KHQDVWHUHRSURJUDPLVUHFHLYHGVRXQGPRGHGLVSOD\ZLOODSSHDULQUHGDVVKRZQ
$OVRZKHQUHFHLYLQJ1,&$0VLJQDOV1,&$0GLVSOD\ZLOODSSHDU
3UHVV EXWWRQWRVZLWFKEHWZHHQVWHUHRDQGPRQRVRXQG


 
 




3OHDVHVHOHFWźIRUFHPRQRLQFDVHRISRRUUHFHSWLRQQRLVHSRRUVWHUHRVRXQGGXHWRVLJQDOFRQGLWLRQVRWKDW
\RXFDQUHFHLYHDFOHDUPRQRVRXQG
V
UHSUHVHQWVWKH0RQREURDGFDVW
background

796(78323(5$7,21FRQWLQXHG
$9%URDGFDVW6LJQDO6HWWLQJ
<RXFDQVHOHFWEURDGFDVWV\VWHPGHSHQGLQJRQWKHDUHD\RXOLYH

3UHVV

EXWWRQGXULQJ$9PRGH

6HOHFW³6HWXS´PHQXDQGSUHVV

EXWWRQ
6HOHFWWKHSUHIHUUHGPHQXLWHPDQGSUHVVV

EXWWRQ
6HOHFWHG,WHPV 6HWXSKLQW
6\VWHP
6\VWHP
'RQRWFKDQJHWKHRULJLQDOVHWWLQJEHFDXVHWKLVGLIIHUV
GHSHQGLQJRQWKHDUHD
6\VWHP(XURSH$VLD6\VWHP6RXWK$PHULFD
&RPSRVLWHDQG6YLGHRLQSXWRQO\
6\VWHP
&RORU
V\VWHP
$9$9
6\VWHP
$XWR
6HOHFWWKHFRORUV\VWHPGHSHQGLQJRQWKHLQSXWVLJQDO
*HQHUDOO\VHOHFW>$XWR@WRUHFHLYHDOOVLJQDOVIRUERWK
6\VWHPDQG6\VWHP
,QFDVHWKDWWKHLQSXWVLJQDOKDVWRRPXFKQRLVHWKH
VLJQDOOHYHOLVWRRORZRUWKHRSHUDWLRQLVXQVWDEOHLQ
>$XWR@VHOHFWWKHV\VWHPDFFRUGLQJWRWKHFRORUV\VWHP
RIWKHLQSXWVLJQDO
&RPSRVLWHDQG6YLGHRLQSXWRQO\
3$/
6(&$0
176&
176&
3$/
6\VWHP
$XWR
176&0
3$/0
3$/1

 


background

796(78323(5$7,21FRQWLQXHG
3&$GMXVWPHQW6HWWLQJ
<RXFDQDGMXVWWKHGLVSOD\FRQGLWLRQVXFKDVSRVLWLRQDGMXVWPHQWDQGFRORUVHWWLQJZKLOHFRQQHFWLQJWRWKH3&DQG
EHLQJ5*%PRGH
6HH

IRUWKH3&FRQQHFWLRQ
)URP6HWXS0HQX5*%

3UHVV

EXWWRQ


6HOHFW³6HWXS´PHQXDQGSUHVV

EXWWRQ
6HOHFWWKHSUHIHUUHGPHQXLWHPDQG
SUHVV

EXWWRQ
%\SUHVVLQJźEXWWRQDWWKHERWWRPRIWKHVWSDJHWKHQGSDJHZLOODSSHDURQWKHVFUHHQ
6HOHFWHG,WHPV 6HWXSKLQW
$XWR$GMXVW
$GMXVW+RUL]RQWDO3RVLWLRQ9HUWLFDO3RVLWLRQ+RUL]RQWDO
&ORFNDQG&ORFN3KDVHDXWRPDWLFDOO\
3UHVV

EXWWRQWRVWDUWDXWRDGMXVWPHQWDVQHHGHG
7KHPHVVDJH³$XWR$GMXVWLQJ´LVGLVSOD\HG

'HSHQGLQJRQWKHW\SHRIWKHVLJQDOWKHUHLVDSRVVLELOLW\WKDW
WKHGLVSOD\PD\QRWEHDGMXVWHGLQLWVRSWLPXPFRQGLWLRQZLWK
WKLVIXQFWLRQ,QWKDWFDVHSOHDVHDGMXVWHDFKLWHPPDQXDOO\
+RUL]RQWDO3RVLWLRQ a
$GMXVWWKHGLVSOD\SRVLWLRQKRUL]RQWDOO\
:KHQWKHSRVLWLRQH[FHHGVWKHSRVVLEOHUDQJHWKH
GLVSOD\FRORUZLOOWXUQLQWR0DJHQWD
9HUWLFDO3RVLWLRQ a
$GMXVWWKHGLVSOD\SRVLWLRQYHUWLFDOO\
:KHQWKHSRVLWLRQH[FHHGVWKHSRVVLEOHUDQJHWKH
GLVSOD\FRORUZLOOWXUQLQWR0DJHQWD
+RUL]RQWDO&ORFN a 0LQLPL]HWKHYHUWLFDOVWULSHVRQWKHVFUHHQ
&ORFN3KDVH a
0LQLPL]HWKHEOXUULQJRIWKHOHWWHUVDQGVWULSHVRQKRUL]RQWDOURZ
0DNHVXUHWRDGMXVW+RUL]RQWDO&ORFN¿UVWEHIRUH
DGMXVWLQJ&ORFN3KDVH
:KHQWKHSRVLWLRQH[FHHGVWKHSRVVLEOHUDQJHWKH
GLVSOD\FRORUZLOOWXUQLQWR0DJHQWD
5HVHW
5HVHWDOOWKHVHWYDOXHVRQWKLV0HQXSDJHWRRULJLQDOIDF
WRU\VHWWLQJV
)UHTXHQF\'LVSOD\
2II
6HOHFWZKHWKHULQGLFDWLQJWKH3&VLJQDOIUHTXHQF\LQIRU
PDWLRQRQ,QSXW6LJQDO6FUHHQ'LVSOD\RUQRW
2Q
:;*$0RGH
2II
7KLVIXQFWLRQLVDYDLODEOHRQO\IRU:;*$VLJQDO
5HIHUWR³5HFRPPHQGHG6LJQDO/LVW´RQ

[
[

 
 

 !
 
 


 
 

background

796(78323(5$7,21FRQWLQXHG
3&$GMXVWPHQW6HWWLQJFRQWLQXHG
)URP3LFWXUH0HQX5*%

3UHVV

EXWWRQ

6HOHFW³3LFWXUH´PHQXDQGSUHVV

EXWWRQ
6HOHFWWKHSUHIHUUHGPHQXLWHPDQGSUHVV

EXWWRQ
6HOHFWHG,WHPV 6HWXSKLQW
&RQWUDVW
a
a
7KLVDGMXVWVWKHFRQWUDVWWRPHHWWKHOLJKWLQJHQYLURQPHQW
E\XVLQJ
EXWWRQ
7KHPD[LPXPYDOXHFDQEHH[WHQGHGWR>@E\
SUHVVLQJDQGKROGLQJŹEXWWRQDW>@ZKLFKFKDQJHV
WKHFRORUEHWZHHQWKRVHQXPEHUVIURP\HOORZWR
PDJHQWD7KLVLVWKHVSHFLDOIHDWXUHSUHSDUHGIRUWKH
GDUNVFHQH$WQRUPDOFRQGLWLRQLWLVUHFRPPHQGHGWR
VHWWKHYDOXHOHVVWKDQ>@
%ULJKWQHVV a
$GMXVWDFFRUGLQJWRSHUVRQDOSUHIHUHQFHE\XVLQJ

EXWWRQ
&RORU a
$GMXVWDFFRUGLQJWRSHUVRQDOSUHIHUHQFHE\XVLQJ

EXWWRQ
7LQW a
3UHVVLQJŻEXWWRQHQKDQFHVUHGDQGZHDNHQVJUHHQ
ZKLOHSUHVVLQJŹEXWWRQZHDNHQVUHGDQGHQKDQFHV
JUHHQ7KHVHWXSKLQWLVDGMXVWLQJIRUWKHUHDOLVWLFVNLQ
FRORU
&RORU7HPSHUDWXUH
&RRO
<RXFDQVHOHFWIURPVHWWLQJVGHIDXOWGHSHQGLQJRQWKH
OLJKWLQJFRQGLWLRQZLWK

EXWWRQ
1RUPDO
:DUP
&RORU7HPS$GMXVW
2Q
$PSOLWXGH
2Q:KHQ\RXZDQWWRVHWVSHFL¿FDGMXVWPHQWVLQHDFKRI
WKH&RORU7HPSHUDWXUHPRGHV<RXFDQDGMXVWRQ
WKHDPSOLWXGHDQGFXWRII7KHVHWWLQJVUHÀHFWRQWKH
&RORU7HPSHUDWXUH
$PSOLWXGH6XEGXHWKHFRORUV5HG*UHHQ%OXHRQ
WKHEULJKWHUSDUWVa
&XWRII6XEGXHWKHFRORUV5HG*UHHQ%OXHRQ
WKHGDUNHUSDUWVa
2II5HPDLQVDVGHIDXOWVHWWLQJ
5HG
*UHHQ
%OXH
&XWRI
I
5HG
*UHHQ
%OXH
2II
5HVHW
(DFKLWHPRQWKLVPHQXVFUHHQFDQEHUHVWRUHGWRWKHRULJLQDOIDFWRU\VHWWLQJV
E\SUHVVLQJ

EXWWRQ
 !
   
 "

 
 ! 
!
 
   !
background

796(78323(5$7,21FRQWLQXHG
$QDORJ7HOHWH[W
:KDWLV´7HOHWH[Wµ
7HOHWH[WLVWKHZULWWHQLQIRUPDWLRQVHUYLFHVSURYLGHGE\HDFK79FKDQQHO
0RVW79FKDQQHOVSURYLGHLQIRUPDWLRQYLD7HOHWH[WVXFKDV
79SURJUDPVFKHGXOH
:HDWKHUIRUHFDVWV
6SRUWVUHVXOWV
1HZVÀDVK
6HOHFW7HOHWH[W/DQJXDJH

3UHVV

EXWWRQ

6HOHFW6HWXSPHQXDQGSUHVV

EXWWRQ
6HOHFW7HOHWH[W/DQJXDJHDQGSUHVV

EXWWRQ
6HOHFWHG,WHPV 6HWXSKLQW
7HOHWH[W/DQJXDJH
6HOHFW7HOHWH[W/DQJXDJHIURPGLIIHUHQWFDWHJRULHV
:HVW(XURSH(DVW(XURSH5XVVLDQ$UDELFDQG)DUVL
DFFRUGLQJWRWKHDUHD
:HVW(XURSH$VLDQFRXQWULHVZKHUHWKH7HOHWH[W
LVEURDGFDVWLQJLQ(QJOLVKVXFKDV
6LQJDSRUH$XVWUDOLDDQG0DOD\VLD
(DVW(XURSH3RODQG6ZHGHQ+XQJDU\
5XVVLDQ5XVVLD
$UDELF$UDEFRXQWULHV
)DUVL,UDQ



  






 

background

796(78323(5$7,21FRQWLQXHG
$QDORJ7HOHWH[WFRQWLQXHG
+RZWR2SHUDWHWKH7HOHWH[W
<RXFDQGLVSOD\WKH7HOHWH[WVLPSO\E\SUHVVLQJWKHUHPRWHFRQWUROEXWWRQV
2SHUDWLRQ 3UHVV
7RDFWLYDWH7
HOHWH[WPRGH
7RH[LWIURPWKH7HOHWH[WPRGH
>79
Ù
7H[W@
7RPRYHWRWKHQH[WRUSUHYLRXVSDJH
>3DJH6HOHFW@
7RMXPSWRWKHLQGLFDWHGSDJH(QWHUGLJLWV
a
>3DJH6HOHFW@
7RVSOLWWKHVFUHHQLQWRWZRDQGZDWFKERWK7HOHWH[WLQIRUPDWLRQ
DQGDFWXDOEURDGFDVWDWWKHVDPHWLPH
3UHVVDJDLQWRZDWFK7HOHWH[WRQDVLQJOHVFUHHQ
>7H[W
Ù
797H[W@
7RGLVSOD\LQGH[SDJH
>,QGH[@
7RDGMXVWFRQWUDVWRIWKHLPDJH
>&RQWUDVW@
7RDFFHVVVXEWLWOHVHUYLFHGLUHFWO\LIWKHFKDQQHOKDVWKH6XEWLWOH
VHUYLFHEURDGFDVWLQJ
>6XEWLWOH@
7RGLVSOD\KLGGHQWH[W
H[7KHDQVZHUVRIWKHTXL]RUWKHJDPHSDJH
3UHVVDJDLQWRFORVHWKHUHYHDOHGDQVZHU
>5HYHDO@
7RUHWXUQWRDFWXDOEURDGFDVWWHPSRUDULO\ZKLOHVHDUFKLQJIRUWKH
7HOHWH[WSDJH\RXUHTXHVW
:KHQWKHVHDUFKLVGRQHWKHGHVLJQDWHGSDJHZLOOEHGLVSOD\HG
RQWKHXSSHUOHIWRIWKHVFUHHQ
3UHVVDJDLQWRUHWXUQWR7HOHWH[WSDJH
>&DQFHO@
7RDFFHVVWKHOLQNSDJHVZKLFKDUHGLVSOD\HGDWWKHERWWRPRIWKHSDJH
6HOHFWWKHEXWWRQVFRUUHVSRQGLQJWRWKHFRORUVRIWKHOHWWHUVRQVFUHHQ
>&RORU@
7RKROGWKHWH[WSLFWXUH
>+ROG@
¸7KLVLVQRWDYDLODEOHLQWKHIROORZLQJFRQGLWLRQV

&RORUV\VWHP176&176&3$/3$/0

1RLQSXWVLJQDO
,QIRUPDWLRQ
(DFKWLPHWKH
EXWWRQLVSUHVVHGWKHVFUHHQZLOOEHVZLWFKHGIURPGRXEOHVFUHHQWRVLQJOHVFUHHQ
6RPH7HOHWH[WSDJHVGRQRWGLVSOD\/LQN3DJHVDWWKHERWWRPRIWKHVFUHHQ3UHVV
EXWWRQWRGLVSOD\WKHP

7HOHWH[WIXQFWLRQLVGLIIHUHQWEHWZHHQ$QDORJDQG'LJLWDO
5HIHUWR

DERXW'LJLWDO7HOHWH[W
background

796(78323(5$7,21FRQWLQXHG
2WKHU
%ODFN6LGH3DQHO3DQHO0RGH
<RXFDQKDYHWKHIROORZLQJRSWLRQDOVHWWLQJ
3UHVV

EXWWRQ
6HOHFW³)XQFWLRQ´PHQXDQGSUHVV

EXWWRQ
6HOHFWWKHSUHIHUUHGPHQXLWHPDQGSUHVV

EXWWRQ
6HOHFWHG,WHPV 6HWXSKLQW
%ODFN6LGH3DQHO
2II
7KLVFDQFKDQJHWKHFRORURIVLGHEDUVVKRZLQJXSLQ
QRUPDOPRGH2IIJUD\2QEODFN
,WLVUHFRPPHQGHGWRVHW2IIWRUHGXFHLPDJHUHWHQWLRQ
7KLVFDQQRWEHVWRUHG7KHGHIDXOWVHWWLQJLVRII
2Q
3DQHO0RGH
7KLVIXQFWLRQVZLWFKHVWKHGULYLQJPHWKRGRIWKH3'3
SDQHODW+]LQSXWVLJQDO
7KLVGRHVQRWRSHUDWHDW+]DQG+]LQSXWVLJQDO
5HGXFHWKHÀLFNHURIWKHVFUHHQ
,PSURYHWKHEOXURIWKHPRYLQJLPDJH
#"
 $  
 
 
% $ 
 & "
#"  
 
"# &

!" !"
""# 
background

',*,7$/7(55(675,$/7(/(9,6,21'7723(5$7,21
+RZWRXVHWKH2Q6FUHHQ'LVSOD\26'V\VWHP
:LWKWKH2Q6FUHHQ'LVSOD\V\VWHP\RXFDQDFFHVVWKHYDULRXVNLQGVRIWKHIHDWXUHVDQGIXQFWLRQV
%DVLF2SHUDWLRQ

3UHVV

EXWWRQRQWKHUHPRWHFRQWURORU0HQXEXWWRQRQWKHFRQWUROSDQHORI
WKHXQLW7KH'770DLQ0HQXLVGLVSOD\HGRQWKHVFUHHQDVVKRZQRQWKHULJKW

7RVHOHFWWKHLWHPSUHVV

EXWWRQ
7KHVHOHFWHGLWHPZLOOEHKLJKOLJKWHG
3UHVV

EXWWRQWRVHW\RXUVHOHFWLRQ
7KHVHOHFWHGPHQXSDJHZLOOEHGLVSOD\HGRQWKHVFUHHQ
8VH

EXWWRQWRFKRRVHWKHLWHPRQWKH0(18SDJH
3UHVV

EXWWRQWRVHW\RXUVHOHFWLRQ
8VH

EXWWRQWRDGMXVWWKHLWHPYDOXHVRUFKRRVHRSWLRQV
3UHVV

EXWWRQWRVHW\RXUVHOHFWLRQ
7RH[LWIURPWKHPHQXSUHVV

EXWWRQ

7KH26'PHQXVFUHHQZLOOEHFORVHGDXWRPDWLFDOO\ZKHQQRRSHUDWLRQKDVEHHQ
PDGHIRUDERXWRQHPLQXWH
'XULQJ'77LQSXWWKHSDUWRI26'PLJKWQRWEHGLVSOD\HGLQ]RRPPRGH
7RGLVSOD\IXOO\VHOHFWWKHRWKHUGLVSOD\VL]HZLWK
EXWWRQ5HIHUWR


&KHFNWKHUHIHUHQFHSDJHIRUWKHGHWDLOV
'770DLQ0HQX!
'770DLQ0HQX/LVW
0HQX )XQFWLRQ 3DJH
796HWXS
7KLVMXPSVWRWKH79PDLQPHQXFRQWDLQLQJ$QDORJ
79IXQFWLRQVXFKDV3LFWXUHPHQXDQG$XGLRPHQX

(GLWFKDQQHOV <RXFDQVHWDOLVWRIIDYRULWHFKDQQHOV

3DUHQWDOJXLGDQFH 7KLVEORFNVSURJUDPVZLWKWKHVHOHFWHGUDWLQJ

,QVWDOODWLRQ 7KLVVHDUFKHVWKHDYDLODEOHFKDQQHOV
0DQXDOVFDQ
6HDUFKE\LWVFKDQQHOQXPEHUIUHTXHQF\
EDQGZLGWKRUSULRULW\

4XLFNVFDQ 6HDUFKE\WKHUHVLGHQWDUHD

$XWRVFDQ $XWRPDWLFDOO\VHDUFKRQHE\RQH

5HVWRUHGHIDXOW 5HVWRUHWKHFKDQQHOVHWWLQJ

*HQHUDOVHWWLQJV
2SWLRQVHWXS 6HWXSWKHGLVSOD\WLPHRILQIRUPDWLRQEDQQHU

&KDQJHSLQ &KDQJHWKH3DVVZRUG

/RFDOWLPH 6HWXSWKHORFDOWLPH

6XEWLWOHVHWWLQJ (QDEOHRUGLVDEOHWKHVXEWLWOH

$XGLRVHWWLQJ
6HOHFWRSWLFDOGLJLWDODXGLRRXWSXWEHWZHHQ3&0
DQG'ROE\
'LJLWDO

6\VWHP 7KLVGLVSOD\VWKHFXUUHQW'77V\VWHPLQIRUPDWLRQ

0HQXEXWWRQ






0HQXEXWWRQ
background

',*,7$/7(55(675,$/7(/(9,6,21'7723(5$7,21FRQWLQXHG
,QVWDOOLQJ&KDQQHOV
<RXFDQVHDUFKDYDLODEOHFKDQQHOVLQDQ\RIWKHIROORZLQJPHWKRGV
3UHVV

EXWWRQRQWKHUHPRWHFRQWUROLQ'77PRGH
6HOHFW³,QVWDOODWLRQ´RQWKH'77PDLQPHQXZLWK
EXWWRQDQGSUHVV

EXWWRQ
7KHSDVVZRUGLVUHTXLUHGWRHQWHUWKH,QVWDOODWLRQPHQX7KHLQLWLDOSDVVZRUGLV
<RXFDQVHOHFWHLWKHURIWKHIROORZLQJVE\SUHVVLQJ

EXWWRQ
0DQXDOVFDQ
6HDUFKHVE\LQGLYLGXDOVHWWLQJVPDQXDOO\
7KHER[VKRZQRQWKHULJKWDSSHDUV)LOORXWWKHIROORZLQJLWHPVDVQHHGHG
&KDQQHOQXP
8VH
EXWWRQRUQXPHULFEXWWRQWRHQWHUWKHQXPEHU
&K&K,QFDVHRIWXQLQJ&K$VHOHFW&K
IUHTXHQF\0+]
)UHTXHQF\ 8VHQXPHULFEXWWRQWRHQWHUWKHIUHTXHQF\
%DQGZLGWK
6HOHFWHLWKHU0+]RU0+]E\XVLQJ
EXWWRQ6HWWR
0+]QRUPDOO\
3ULRULW\
6HOHFW+LJKRU/RZE\XVLQJ
EXWWRQ6HWWR+LJKQRUPDOO\
7KHQSUHVV

EXWWRQRQ³6WDUWVFDQ´RI³0DQXDOVFDQ´FROXPQ,ILW¿QGVD
FKDQQHO³6XFFHVV´VKRZVXS,IQRW³7LPHRXWHUURU´LVGLVSOD\HG
4XLFNVFDQ
6HDUFKHVFKDQQHOVRIWKHVHOHFWHGDUHD
7KHOLVWRIWKHDUHDVKRZVXS6HOHFWRQHRIWKRVHZLWK
EXWWRQDQGSUHVV

EXWWRQ


,I\RXDUHXQFHUWDLQDERXWWKHDUHDSOHDVHVHOHFW
³$XWRVFDQ´PHWKRGRU
FRQWDFWWKHORFDOGHDOHULQ\RXUDUHD
$XWRVFDQ6HDUFKHVHYHU\FKDQQHOV
7KHPHVVDJH³$XWRVFDQZLOOWDNHPRUHWKDQPLQXWHV'R\RXZDQWWR
FRQWLQXH"´
6HOHFW³<HV´DQGSUHVV

EXWWRQWRSURFHHGLW
5HVWRULQJ&KDQQHOV
7KLVUHVWRUHVWKHDOOFKDQQHOVHWWLQJV
3UHVV

EXWWRQRQWKHUHPRWHFRQWUROLQ'77PRGH

6HOHFW³,QVWDOODWLRQ´RQWKH'77PDLQPHQXZLWK
EXWWRQDQGSUHVV

EXWWRQ

7KHSDVVZRUGLVUHTXLUHGWRHQWHUWKH,QVWDOODWLRQPHQX7KHLQLWLDOSDVVZRUGLV
6HOHFW³5HVWRUHGHIDXOW´DQGSUHVV

EXWWRQ7KHPHVVDJH
³$OOVHWWLQJZRXOGEHORVW´DSSHDUV6HOHFW³<HV´DQGSUHVV

EXWWRQ


7KHSDVVZRUGZLOOUHWXUQWRWKHGHIDXOWVHWWLQJZKHQDFWLYDWLQJ³5HVWRUHGHIDXOW´







 

"##
$"
$"
$#"
"#!$#
$
! $&
%#
!!#&
$"

'
'

#!#"





















background
',*,7$/7(55(675,$/7(/(9,6,21'7723(5$7,21FRQWLQXHG
&KDQQHO6HOHFWLRQV
7KHUHDUHZD\VWRVHOHFWWKHFKDQQHOVVWHSSLQJWKURXJKWKHFKDQQHOVHOHFWLQJE\QXPEHUVHOHFWLQJIURPWKH
SURJUDPIDYRULWHOLVWDQGXVLQJWKH(OHFWURQLF3URJUDP*XLGH(3*
6WHSSLQJWKURXJKWKH&KDQQHO
3UHVV&+$11(/83'2:1EXWWRQWRVZLWFKWKHQH[WRUSUHYLRXVFKDQQHORQWKHOLVW,QIRUPDWLRQEDQQHULVGLVSOD\HG
HYHU\WLPHFKDQQHOLVVZLWFKHG
5HIHUWR

DERXWWKHLQIRUPDWLRQEDQQHU
6HOHFWLQJIURPWKH3URJUDP)DYRULWH/LVW
3URJUDP/LVW
$OOWXQHGFKDQQHOLVVHOHFWDEOHIURP3URJUDP/LVW

3UHVV
EXWWRQRQWKHUHPRWHFRQWUROWRVKRZXSWKH3URJUDP/LVW
8VH

EXWWRQWRVHOHFWDQGSUHVV

EXWWRQ7KHQLWMXPSVWRWKHVHOHFWHG
FKDQQHO
)DYRULWH/LVW
<RXUIDYRULWHFKDQQHOVFDQEHVHOHFWHGIURP)DYRULWH/LVW

3UHVV
EXWWRQRQWKHUHPRWHFRQWUROWRVKRZXSWKH)DYRULWHOLVW
(DFKWLPHSUHVVHGLWVZLWFKHVWR)DYRULWHOLVW)DYRULWHOLVWDQGRII
8VH

EXWWRQWRVHOHFWDQGSUHVV

EXWWRQ7KHQLWMXPSVWRWKH
VHOHFWHGFKDQQHO
$ERXWKRZWRVHWWKHFKDQQHOLQ)DYRULWHOLVWSOHDVHUHIHUWR

6HOHFWLQJE\1XPEHU
(QWHUWKHQXPEHUWKHODVWGLJLWVEDVHGRQWKHOLVWE\XVLQJQXPHULFEXWWRQV
RQWKHUHPRWHFRQWURO$QHPSW\LQIRUPDWLRQEDQQHUVKRZVXSZLWKWKHHQWHUHG
QXPEHU&KDQQHOLVVZLWFKHGLIWKHQXPEHULVYDOLG,IWKHHQWHUHGQXPEHULV
QRWYDOLGRUFRPSOHWHGIRURQHRIWKHVHWXSFKDQQHOVLWDXWRPDWLFDOO\VHOHFWV
WKHFORVHVWFKDQQHO
8VLQJWKH(OHFWURQLF3URJUDP*XLGH(3*
7KH(3*VFUHHQGLVSOD\VDOLVWRIWKHVWRUHGFKDQQHODORQJZLWKWKHSURJUDP
LQIRUPDWLRQ<RXFDQVHOHFWDFKDQQHOIURPWKH(3*FKDQQHO/LVW

3UHVV EXWWRQWRDFFHVV(3*VFUHHQ
8VH

EXWWRQWRVHOHFWFKDQQHO
3UHVV
EXWWRQRU
EXWWRQDJDLQWRUHWXUQWRQRUPDOVFUHHQ
WKHVHOHFWHGFKDQQHO
5HIHUWR

DERXW(OHFWURQLF3URJUDP*XLGHIRUGHWDLOV
















 



(')+*.*
#!"$#!"+*& +,)*'&+'0*
*(')+*#&+".')$

(')+*.*
'-#.*
-&#!#+$
!
$+)'&#)'!)%,#
'&0)"
)-0 /+0 )-! /+! *)-
background

',*,7$/7(55(675,$/7(/(9,6,21'7723(5$7,21FRQWLQXHG
0DNLQJ)DYRULWH/LVW
7KH³(GLWFKDQQHOV´PHQXDOORZV\RXWRVHOHFW\RXUIDYRULWHFKDQQHOVDQGPDNHD)DYRULWH/LVWLQRUGHUWRDFFHVV
HDVLO\WRWKHFKDQQHO\RXZDWFKPRVWRIWHQ

3UHVV

EXWWRQRQWKHUHPRWHFRQWURODQGVHOHFW³(GLWFKDQQHOV´DQG
SUHVV

EXWWRQ

8VH

EXWWRQWRVHOHFWWKHFKDQQHODQG

EXWWRQWRVHOHFW)DYRU)DY
3UHVV

EXWWRQWRVHWXSDV)DY/LVW7KH
Ɔ
PDUNZLOOVKRZXSZKLFK
PHDQVDVIDYRULWHFKDQQHO3UHVVLQJ

EXWWRQDJDLQRQWKHPDUNZLOO
FDQFHOWKHVHWWLQJ
<RXFDQGLVSOD\IDYRULWHOLVWE\SUHVVLQJ
EXWWRQ5HIHUWR

,QIRUPDWLRQ%DQQHU
ŏ'LVSOD\LQIRUPDWLRQE\FKDQJLQJFKDQQHO
:KHQHYHUDFKDQQHOLVVZLWFKHGWKH79GLVSOD\VWKHEDQQHUFRQWDLQLQJWKH
EULHIFKDQQHOLQIRUPDWLRQQDPHRIFKDQQHODQGSURJUDPHWF
ŏ'LVSOD\LQIRUPDWLRQE\SUHVVLQJ EXWWRQ
7KH79GLVSOD\VQRWRQO\EULHILQIRUPDWLRQEXWDOVRSURJUDPGHVFULSWLRQ
(DFKWLPH
EXWWRQLVSUHVVHGLWGLVSOD\VLQIRUPDWLRQE\IROORZLQJRUGHU
%ULHI&KDQQHO,QIRUPDWLRQĺ&XUUHQW3URJUDP'HVFULSWLRQĺ
1H[W3URJUDP'HVFULSWLRQĺ1RUPDO6FUHHQ
6HWXSWKHGLVSOD\WLPH
7KHGLVSOD\WLPHRILQIRUPDWLRQEDQQHUFDQEHVHWXSIURPWRVHF
3UHVV

EXWWRQRQWKHUHPRWHFRQWURO

6HOHFW³*HQHUDOVHWWLQJV´DQGSUHVV

EXWWRQ
6HOHFW³2SWLRQVHWXS´DQGSUHVV

EXWWRQ
7KHER[VKRZVXSDQGVHOHFWWKHGLVSOD\WLPHE\XVLQJ

EXWWRQ


:KHQ\RXVHOHFW³VHF´IRU³,QIRUPDWLRQER[WLPHRXW´WKHLQIRUPDWLRQ
EDQQHUZLOOQRWVKRZXS
! 

&
˳
&
 
 
 
 
 
 
% $
#$$%!$% "#$$






 " !

 
  !

 
!   
! 
  
background

',*,7$/7(55(675,$/7(/(9,6,21'7723(5$7,21FRQWLQXHG
'LJLWDO7HOHWH[W
7HOHWH[WFDQSURYLGHYDULRXVLQIRUPDWLRQZLWKWH[WRQWKHVFUHHQ
3UHVV
EXWWRQWRDFFHVV3UHVVLWDJDLQWRUHWXUQWRWKHQRUPDOVFUHHQ


6HH

DQG

KRZWRRSHUDWHDW$QDORJWHOHWH[W

7KHVHUYLFHRIGLJLWDOEURDGFDVWLQJVLJQDOYDULHVGHSHQGLQJRQWKHDUHD

:KHQ\RXSUHVVWKHFRORUEXWWRQVDORQJZLWKWKHGLUHFWLRQRQWKHVFUHHQ\RXFDQDFFHVVWKHOLQNHGSDJHV
(OHFWURQLF3URJUDP*XLGH(3*
7KH(3*VFUHHQGLVSOD\VDOLVWRIWKHVWRUHGFKDQQHOVDORQJZLWKSURJUDPLQIRUPDWLRQ7KLVSURYLGHVWKHLQIRUPDWLRQIRUGD\V

3UHVV EXWWRQWRGLVSOD\(3*VFUHHQ
<RXFDQDGMXVWWKH(3*VFUHHQZLWKWKHIROORZLQJUHPRWHFRQWURONH\V
%XWWRQ
6HOHFWDFKDQQHOSURJUDP'LVSOD\LQIRUPDWLRQ

6HOHFWDSURJUDPIURPWKHOLVW
7KHSLFWXUHRIVHOHFWHGSURJUDPLVGLVSOD\HGDWORZHUULJKWVFUHHQ
7KHGHWDLOHGLQIRUPDWLRQRIVHOHFWHGSURJUDPLVGLVSOD\HGDWORZHUOHIWVFUHHQ

6HOHFWDFKDQQHO
7KHSLFWXUHRIVHOHFWHGSURJUDPLVGLVSOD\HGDWORZHUULJKWVFUHHQ
7KHGHWDLOHGLQIRUPDWLRQRIVHOHFWHGSURJUDPLVGLVSOD\HGDWORZHUOHIWVFUHHQ
5HG*UHHQ 6HOHFWGDWHXSWRGD\V
<HOORZ%OXH
0RYHWRWKHQH[WRUSUHYLRXVSDJHLIPRUHWKDQRQHSDJH
%XWWRQ 5HVHUYHDSURJUDP

6HWWKHYLHZWLPHUE\SUHVVLQJ

EXWWRQRQWKHVHOHFWHGLWHP
PDUNZLOOEHGLVSOD\HG
8SWRLWHPVFDQEHVHOHFWHG
$PHVVDJHDSSHDUVZKHQWKHGHVLUHGSURJUDPLV
DERXWWRVWDUW
3UHVV

EXWWRQWRFDQFHOWKHUHVHUYDWLRQ
3UHVV
EXWWRQRU
EXWWRQWRUHWXUQWRWKHQRUPDOVFUHHQ

1RWDOOFKDQQHOVEURDGFDVWDOOSURJUDPLQIRUPDWLRQGDWD6RPHFKDQQHOVGRQRWSURYLGHSURJUDPQDPHDQGGHWDLOV
,QWKDWFDVHRQO\FKDQQHOQDPHDUHGLVSOD\HG
2SHUDWLRQ 3UHVV
7RDFWLYDWH7HOHWH[WPRGH
7
RH[LWIURPWKH7HOHWH[WPRGH
>79
Ù
7H[W@
7RPRYHWRWKHQH[WRUSUHYLRXVSDJH
>3DJH6HOHFW@
7RMXPSWRWKHLQGLFDWHGSDJH
a
>3DJH6HOHFW@
7RDFFHVV6XEWLWOHVHUYLFHGLUHFWO\LIWKHFKDQQHOKDV
WKH6XEWLWOHVHUYLFHEURDGFDVWLQJ
>6XEWLWOH@
 
$

 #
#&#
 
$
$
!
#
 
# 
"

"
 
! $ %! 
#
 #$
,*+(-+ ,(')
! $ $
%  

(')+*.*
#!"$#!"+*& +,)*'&+'0*
*(')+*#&+".')$

(')+*.*
'-#.*
-&#!#+$
!
$+)'&#)'!)%,#
'&0)"
)-0 /+0 )-!
/+! *)-


7KHPHVVDJHDSSHDUVRQO\
GXULQJ'77PRGH3OHDVH
QRWHWKDWWKLVGRHVQRW
DSSHDULQ79$95*%DQG
+'0,PRGH

7KLVVHWWLQJZLOOEHFDQFHOHG
RQFHWXUQV2IIWKH79
background

',*,7$/7(55(675,$/7(/(9,6,21'7723(5$7,21FRQWLQXHG
6XEWLWOH
7KLVHQDEOHVGLVDEOHWKHVXEWLWOHLIDYDLODEOHDV\RXUXVHIXOWRRO
3UHVV

EXWWRQWRGLVSOD\'77PDLQPHQX
6HOHFW³*HQHUDOVHWWLQJV´DQGSUHVV

EXWWRQ
6HOHFW³6XEWLWOHVHWWLQJ´DQGSUHVV

EXWWRQ
:LWK

EXWWRQVHOHFW³(QDEOH´DQGSUHVV

EXWWRQ
<RXFDQDOVRDFWLYDWHWKHVXEWLWOHE\SUHVVLQJ
EXWWRQRQWKHUHPRWHFRQWURO
6XEWLWOHV2QRU6XEWLWOHV2IIZLOODSSHDUVRQWKHXSSHUOHIWFRUQHU


2QFHWXULQJ79RII³$XWRVXEWLWOH´UHWXUQVWR³'LVDEOH´
3DUHQWDO*XLGDQFH
$Q\FKDQQHOFDQEHORFNHGVRWKDWLWFDQQRWEHVHOHFWHGIRUYLHZLQJZLWKRXW
GLJLWVSLQFRGH
3UHVV

EXWWRQRQWKHUHPRWHFRQWURO
6HOHFW³3DUHQWDOJXLGDQFH´DQGSUHVV

EXWWRQ
7KHSDVVZRUGLVUHTXLUHGWRHQWHU7KHLQLWLDOSDVVZRUGLV
:LWK

EXWWRQVHOHFWWKHUDWLQJDQGSUHVV

EXWWRQ
$IWHUWKLVSURWHFWLRQZKHQHQFRXQWHUWKHFKDQQHOEORFNHGWKHPHVVDJH
VKRZVXSDQGWKHSDVVZRUGLVUHTXLUHGWRYLHZWKHFKDQQHO
$XGLR/DQJXDJH03(*'ROE\
'LJLWDO
7KHDYDLODEOH$XGLRODQJXDJH03(*'ROE\
'LJLWDOFDQEHVHOHFWHG
3UHVV
EXWWRQRQWKHUHPRWHFRQWUROLQ'77PRGH
7KHDYDLODEOHDXGLRODQJXDJH03(*'ROE\
'LJLWDODSSHDUV
:LWK

EXWWRQVHOHFWRQHIURPWKHOLVWDQGSUHVV

EXWWRQ
'LJLWDO$XGLR2XWSXW
7KLVHQDEOHV\RXWRVHOHFWWKHRSWLFDOGLJLWDODXGLRRXWSXWEHWZHHQ3&0DQG
'ROE\
GLJLWDO
3UHVV

EXWWRQWRGLVSOD\'77PDLQPHQX
6HOHFW³*HQHUDOVHWWLQJV´DQGSUHVV

EXWWRQ
6HOHFW³$XGLRVHWWLQJ´DQGSUHVV

EXWWRQ
:LWK

EXWWRQVHOHFWHLWKHU³3&0´RU³'ROE\'LJLWDO´DQGSUHVV

EXWWRQ


,QFDVHWKDW03(*DXGLRLVVHOHFWHGE\XVLQJ
EXWWRQRUWKHEURDGFDVWLQJSURJUDPKDVRQO\03(*DXGLRLW
RXWSXWVRQO\3&0DXGLRHYHQLI³'ROE\'LJLWDO´LVVHOHFWHGLQ³$XGLRVHWWLQJ´PHQX
,I'ROE\
'LJLWDODXGLRLVVHOHFWHGE\XVLQJ
EXWWRQ\RXFDQVHOHFWHLWKHU³'ROE\'LJLWDO´RU³3&0´IURP³$XGLRVHWWLQJ´PHQX

 



 


 


#*

"" 



%"' ("#"'%# &')'
#%'&$%#%! '"#'%
"" #%"'%$&&*#%'##)%*%'
&&*#%














  
!

 


 


background

',*,7$/7(55(675,$/7(/(9,6,21'7723(5$7,21FRQWLQXHG
&KDQJH3LQ
7RXVHWKHORFNVHIIHFWLYHO\GRFKDQJHWKHSLQQXPEHUIURPWKHGHIDXOWVHWWLQJ
ZKLFKVKRXOGEHNQRZQDQGUHPHPEHUHGRQO\E\\RX7KHGHIDXOWVHWWLQJLV

3UHVV

EXWWRQRQWKHUHPRWHFRQWURO
6HOHFW³*HQHUDOVHWWLQJ´DQGSUHVV

EXWWRQ
6HOHFW³&KDQJHSLQ´DQGSUHVV

EXWWRQ
7KHER[DSSHDUVWR¿OORXWWKHROGDQGQHZSDVVZRUGDQGWKHFRQ¿UPDWLRQ
RIWKHQHZSDVVZRUG
8VHWKHQXPHULFQXPEHUWRHQWHU

,QFDVHWKDW\RXIRUJHW\RXUSDVVZRUGSOHDVHUHIHUWR7URXEOHVKRRWLQJRQ

/RFDO7LPH
0DNHVXUHWRVHOHFW\RXUUHVLGHQWDUHDWRVHWXSWKHFRUUHFWORFDOWLPH
3UHVV

EXWWRQRQWKHUHPRWHFRQWURO
6HOHFW³*HQHUDOVHWWLQJ´DQGSUHVV

EXWWRQ
6HOHFW³/RFDOWLPH´DQGSUHVV

EXWWRQ
8VH

EXWWRQVHOHFWWKHDUHDDQGSUHVV

EXWWRQ
&KHFNLQJ'776\VWHP,QIRUPDWLRQ
7KLVFDQGLVSOD\FXUUHQW'77V\VWHPLQIRUPDWLRQ
3UHVV

EXWWRQRQWKHUHPRWHFRQWURO
6HOHFW³6\VWHP´DQGSUHVV

EXWWRQ
3UHVVLQJ

EXWWRQRQ³6WDWXV´VKRZVXS6\VWHPLQIRUPDWLRQ+:
YHUVLRQ6:YHUVLRQDQG5HOHDVHWLPH
-XPSWR796HWXS0HQX
³796HWXS´PHQXFDQEHDFFHVVHGIURPWKH'77PDLQPHQX
,WMXPSVWRWKH79PDLQPHQXFRQWDLQLQJ$QDORJ79IXQFWLRQVXFKDV3LFWXUH
PHQXDQG$XGLRPHQX
5HIHUWR

DERXW79PDLQPHQX
"!!%
#!
" !
 " !
" !
#" !
"" !
!" !
$$" !
 " !
 !!
! !"

!
"!! !!
" !!
 ! ! 









˳˳˳
˳˳˳
˳˳˳





%"# !# 
!" 
!" 
"#$
%"#
##$"
%"# !# !""#$!# !#$!
7KHDERYHLVDQH[DPSOH
background

)81&7,21
6L]H6ZLWFKLQJ
(DFKWLPH EXWWRQRIWKHUHPRWHFRQWUROLVSUHVVHGWKHVFUHHQGLVSOD\VL]HLV
VZLWFKHGLQVHTXHQFHDQGWKHVWDWXVZLOOEHGLVSOD\HGDWWKHERWWRPRIWKHVFUHHQ
'7779$9VLJQDOLQSXW
'LVSOD\6L]H
:DWFKLQJ6WDQGDUG'HÀQLWLRQ3LFWXUHVLSLS
79$9$9$9$9+'0,+'0,
   

:DWFKLQJ+LJK'HÀQLWLRQ3LFWXUHVSLS+'0,RQO\
'77
$9$9+'0,+'0,
<RXFDQGLVSOD\WKHLPDJHDWRSWLPXPFRQGLWLRQE\VHOHFWLQJGLVSOD\VL]HGHSHQGLQJRQWKHFXUUHQWRXWSXWLPDJHDVVKRZQEHORZ
,QSXW6LJQDO
'LVSOD\
6FUHHQ
'LVSOD\6L]H 7RGLVSOD\VXLWDEOHVFUHHQDVIROORZV
:KHQ:DWFKLQJ6WDQGDUG'HÀQLWLRQ3LFWXUHV
6LJQDO

3OD\DLPDJHRQVFUHHQIDLWKIXOO\%ODQNLQJRFFXUVRQERWK
VLGHV
3DQRUDPLF
3OD\DLPDJHZKLFKHQODUJHVKRUL]RQWDODQGYHUWLFDOVL]HRI
WKHPLGGOHLQHTXDOVFDOHVDQGGLVSOD\VERWKVLGHVDSSHDULQJ
PXFKZLGHU
3DQRUDPLF
7KHYHUWLFDOVL]HRI3DQRUDPLFLVUHGXFHGVRWKDW\RXFDQ
VHHWKHZKROHLPDJHLQFOXGLQJDQ\VXEWLWOHVWKDWPLJKW
RWKHUZLVHQRWEHIXOO\YLVLEOHRQWKHVFUHHQ
9LVWD
=RRP
3OD\DLPDJHLQIUDPH9LVWDVL]HIDLWKIXOO\
,QVRPHFDVHVOLJKWEODQNLQJPD\UHPDLQDWWKHWRSDQG
ERWWRP
&LQHPD
&LQHPD
3OD\DLPDJHLQIUDPH&LQHPDVL]HH[SDQGLQJ
YHUWLFDOO\
,QVRPHFDVHVOLJKWEODQNLQJPD\UHPDLQDWWKHWRSDQG
ERWWRP
6TXHH]H
)XOO
3OD\DLPDJHIDLWKIXOO\LQWKHVWDQGDUGYHUWLFDOVL]HDQG
KRUL]RQWDOO\VTXHH]HG
:KHQ:DWFKLQJ+LJK'HÀQLWLRQ3LFWXUHV
6LJQDO
)XOO 3OD\DLPDJHIDLWKIXOO\VKRZLQJRIWKHVL]H
)XOO
3OD\DLPDJHIDLWKIXOO\VKRZLQJRIWKHVL]H
,QVRPHFDVHWKHVFUHHQGLVSOD\KDVXQQHFHVVDU\EODQNLQJ
RUQRLVHDWWKHHGJHV
,PDJHLQ
)UDPH
=RRP
3OD\DLPDJHLQIUDPHE\HQODUJLQJDLPDJHWR¿OO
WKH
VFUHHQ
,QIRUPDWLRQ
$VSHFWUDWLRUHSUHVHQWVKRUL]RQWDOYHUWLFDOUDWLRRQVFUHHQ
)RUH[DPSOHYLVWDLPDJHLVLQLPDJH
=220EXWWRQ
  
$OO'77EURDGFDVWLQJVLJQDOLVFRQYHUWHGLQWRL

'XULQJ'77LQSXWWKHSDUWRI26'PLJKWQRWEHGLVSOD\HGLQ=RRPPRGH
background

)81&7,21FRQWLQXHG
6L]H6ZLWFKLQJFRQWLQXHG
'7779$9VLJQDOLQSXWFRQWLQXHG
3RVLWLRQ$GMXVWPHQW
9HUWLFDOSLFWXUHSRVLWLRQFDQEHDGMXVWHGIRU3DQRUDPLF=RRP&LQHPDDQG)XOOPRGHDVIROORZV
3UHVV

EXWWRQZKLOHRSHUDWLQJWKHSLFWXUHVL]HGLVSOD\
³3RVLWLRQ´GLVSOD\ZLOODSSHDU
$GMXVWWKHSRVLWLRQE\

EXWWRQ
$GMXVWPHQWUDQJHRIHDFKSLFWXUHVL]HDUHDVVKRZQEHORZ
'LVSOD\6L]H $GMXVWDEOH5DQJH &RQGLWLRQ5HPDUN
3DQRUDPLF a
=RRP&LQHPD a
)XOO &RPSRQHQWVLJQDORQO\
'HIDXOW6HWWLQJLQ79PRGH
<RXFDQVHWWKHGLVSOD\VL]HIRU79LQSXWVFUHHQDSSHDULQJ¿UVWMXVWDIWHUFRQQHFWLQJSRZHUFRUG
3UHVV

EXWWRQ
6HOHFW³)XQFWLRQ´PHQXDQGSUHVV

EXWWRQ
6HOHFW³'HIDXOW=RRP´
'HIDXOW=RRP
3DQRUDPLF
3DQRUDPLF

)XOO
3DQRUDPLF0RGH$GMXVWPHQWLQ79PRGH
,QFDVHWKDWWKHLPDJHIURP79VLJQDOHVSHFLDOO\&$79KDVDEODFNHQHGJDSLQHLWKHURUERWKVLGHGXULQJ
3DQRUDPLFPRGHVHOHFW>@VRWKDWLWFDQPDNHXSIRUWKHJDS
7KLVLVQRWDYDLODEOHZKHQGLVSOD\LQJ³&LQHPD´VL]H
7KLVLVQRWDYDLODEOHH[FHSW5)FRPSRVLWHDQGFRPSRQHQWLLLQSXWJUD\RXW
3UHVV

EXWWRQ
6HOHFW³)XQFWLRQ´PHQXDQGSUHVV

EXWWRQ
6HOHFW³3LFWXUH6L]H´
3LFWXUH6L]H
3RVLWLRQ
3UHVVŸ
3RVLWLRQ
3UHVVź
"!
# 

 
$# 
% !
"! 
 
!"%

 !  !
!!!"
"!
# 

 
$# 
% !
"! 
 
!"%

 !  !
!!!"
background

)81&7,21FRQWLQXHG
6L]H6ZLWFKLQJFRQWLQXHG
5*%VLJQDOLQSXW

'LVSOD\6L]H
<RXFDQVHOHFWVXLWDEOHVL]HGHSHQGLQJRQWKHUHVROXWLRQ
 

'LVSOD\$UHD6HOHFWLRQ'LDJUDP
,QWKHVLJQDOGLVSOD\FKDUWVKRZQDERYHVRPHFRPSUHVVLRQRUVWUHWFKLQJKDVWDNHQSODFH)OLFNHUPD\EHQRWLFHDEOH
LQ=RRPPRGHGHSHQGLQJRQFRQWHQW
5HVROXWLRQ ,QSXWVLJQDO )XOOGLVSOD\ &LUFXODUGLVSOD\
'LVSOD\ )XOO 1RUPDO =RRP
;9*$
;69*$
;;*$
;6;*$
;9*$
;:;*$
;:;*$
&$87,21
8VLQJDZLGHVFUHHQWHOHYLVLRQ
7KLVWHOHYLVLRQKDVDVFUHHQPRGHVHOHFWLRQIHDWXUH,IDQLQFRPSDWLEOHVFUHHQPRGHLVVHOHFWHGWRSOD\FHUWDLQ
VRIWZDUHVXFKDVD79SURJUDPWKHLPDJHZRXOGDSSHDUGLIIHUHQWIRUPWKHRULJLQDO7DNHWKLVLQWRFRQVLGHUDWLRQ
ZKHQPDNLQJVFUHHQPRGHFKRLFHV
8VHRIWKHZLGHIHDWXUHGLVSOD\LQJHQODUJHGSLFWXUHVLQFRIIHHVKRSVKRWHODQGRWKHUHVWDEOLVKPHQWVIRU
FRPPHUFLDORUSXEOLFYLHZLQJSXUSRVHVFRXOGLQIULQJHRQWKHFRS\ULJKWKROGHU¶VULJKWSURWHFWHGE\&RS\ULJKW/DZ
:KHQDQRUPDOLPDJHQRWZLGHVFUHHQLVGLVSOD\HGRYHUWKHHQWLUHVFUHHQLQWKH3DQRUDPLFPRGHWKH
SHULSKHUDOLPDJHPD\GLVDSSHDUSDUWO\DQGRUDSSHDUGLVWRUWHGLQVRPHFDVHV8VHPRGHWRYLHZWKHLPDJH
UHÀHFWLQJRULJLQDOLQWHQWLRQ
background

)81&7,21FRQWLQXHG
3LFWXUH)UHH]LQJ
%\SUHVVLQJ
EXWWRQ\RXFDQFKDQJHWRIUHH]HPRGHHDVLO\DQ\WLPH\RX
OLNH3UHVVLWDJDLQWRUHWXUQWRQRUPDOSLFWXUH
7KHUHDUHWZRW\SHVRIIUHH]HPRGH<RXFDQVHOHFWWKHVHLQWKH³)UHH]H
0RGH´IURP³)XQFWLRQ´PHQX
3UHVV

EXWWRQ
6HOHFW³)XQFWLRQ´DQGSUHVV

EXWWRQ
6HOHFW³)UHH]H0RGH´DQGSUHVV

EXWWRQ
6HOHFWHG,WHPV 6HWXSKLQW
)UHH]H0RGH
6LQJOH
6LQJOH
,WIUHH]HVDSLFWXUHRQDVLQJOHIUDPH
6SOLW
,WGLVSOD\VSLFWXUHVIURPWKHVDPH
VRXUFH2QHLVDFWLYHOHIWZKLOHWKH
RWKHULVVWLOOSLFWXUHULJKW7KLVLV
YHU\XVHIXOLQRUGHUWRDYRLGPLVVLQJ
VRPHWKLQJRUWRPDNHDQRWHRI
VRPHWKLQJVXFKDVDUHFLSH
6SOLW

7KLVIXQFWLRQLVQRWDYDLODEOHLQ5*%LQSXW

 
)UHH]HEXWWRQ


"!
#


$#
%!
"!

!"%

 !  !
!!!"
7KHVL]HRIWKHSLFWXUHV GLIIHUV
GHSHQGLQJRQ WKH VLJQDOIRUPDW
UHFHLYHG
background

)81&7,21FRQWLQXHG
3RZHU6DYH0RGH
:KHQ79LQSXWLVVHOHFWHG
:KHQQRDLUZDYHKDVEHHQUHFHLYHGDQGQRRSHUDWLRQKDVEHHQPDGHIRUPLQXWHVLQ79PRGHLWWXUQVWR
VWDQGE\PRGHDXWRPDWLFDOO\
3UHVV

EXWWRQGXULQJ79PRGH
6HOHFW³6HWXS´PHQXDQGSUHVV

EXWWRQ
6HOHFW³$XWR2II´

:KHQ$9LQSXWLVVHOHFWHG
<RXDUHSURYLGHGWKHIXQFWLRQWRVDYHSRZHUFRQVXPSWLRQZKHQQRVLJQDOLVGHWHFWHGLQ$9LQSXW6HWWR2QLQ
³9LGHR3RZHU6DYH´IURP)XQFWLRQ0HQXZKLFKOHDGVWRWKHSRZHUVDYHPRGHLQ$9$9+'0,+'0,DQG
WKH6WDQGE\PRGHLQRWKHU$9LQSXW3OHDVHVHHWKHWDEOHEHORZIRUGHWDLOV
3UHVV

EXWWRQGXULQJ$9DQG+'0,PRGH
6HOHFW³)XQFWLRQ´PHQXDQGSUHVV

EXWWRQ
6HOHFW³9LGHR3RZHU6DYH´
:KHQQRVLJQDOLVGHWHFWHG
:KHQVLJQDOLVLQSXWGXULQJ
2QLQ´9LGHR3RZHU6DY
&RQGLWLRQ ,QGLFDWLQJ/DPS
$9$9
+'0,a
3RZHU6DYH 2UDQJH 7XUQV2QDXWRPDWLFDOO\
$9$9 6WDQGE\ 5HG 5HPDLQVDV6WDQGE\PRGH

:KHQ5*%LQSXWLVVHOHFWHG
:KHQWKLVXQLWLVFRQQHFWHGWRD9(6$'306FRPSXWHUWKH3RZHU6DYHPRGH2SHUDWLRQPRGH2IIFDQEHVHW
WREHDFWLYDWHGDXWRPDWLFDOO\ZKHQWKHFRPSXWHULVQRWEHLQJXVHGWRUHGXFHSRZHUFRQVXPSWLRQE\WKLVXQLW
5*%V\QFVLJQDO
+RUL]RQWDO <HV 1R <HV 1R
9HUWLFDO <HV <HV 1R 1R
3&VLJQDO $FWLYHQRUPDOGLVSOD\%ODQNQRGLVSOD\
2SHUDWLRQPRGH 2Q 2II
,QGLFDWLQJODPS /LJKWVJUHHQ /LJKWVRUDQJH
7RUHWXUQWRRSHUDWLQJVWDWXVRSHUDWHWKHSHUVRQDOFRPSXWHURUSUHVVHLWKHUWKH,13876(/(&7EXWWRQRIWKH
FRQWUROSDQHORUWKH5*%EXWWRQRIWKHUHPRWHFRQWURO
2WKHUV
(FR0RGHIXQFWLRQFDQUHGXFHWKHSRZHUFRQVXPSWLRQIRU79$9+'0,5*%PRGH
3UHVV

EXWWRQ
3UHVV³)XQFWLRQ´PHQXDQGSUHVV

EXWWRQ
6HOHFW³(FR0RGH´
#"
 $  
 
 
% $ 
 & "
#"  
 
"# &

!" !"
""# 
#"
 $  
 
 
% $ 
 & "
#"  
 
"# &

!" !"
""# 
$XWR2II
2II
2Q
9LGHR3RZHU6DYH
2II
2Q
(FR0RGH
2II
2Q






 

background

)81&7,21FRQWLQXHG
'9'3OD\HU67%6HOHFWLRQ
<RXFDQXVHWKLVUHPRWHFRQWUROWRRSHUDWH'9'3OD\HUDQG6HW7RS %R[RIRWKHU
PDQXIDFWXUHUDVZHOODVWKLVVHW$IWHUSUHVVLQJ
RU
EXWWRQSUHVVRUKROGWKH
UHTXLUHG
EXWWRQVWRVHOHFWWKHPDQXIDFWXUHUDQGW\SHDVVKRZQEHORZ
6HWXS
([DPSOH+,7$&+,'9'
6HWXSWKHPDQXIDFWXUHU
3UHVV
EXWWRQVRWKDWWKHEXWWRQOLJKW:KLOHWKHEXWWRQLVOLJKWLQJ$SSUR[

VHFRQGVSUHVV
DQG EXWWRQV
6HWXSWKHPDQXIDFWXUHUW\SH
5HOHDVHWKH EXWWRQZKLOHNHHSLQJ
EXWWRQGHSUHVVHG7KHQSUHVV
EXWWRQ
&RQ¿UPWKHVHWWLQJ
$IWHUVHWWLQJWKHPDQXIDFWXUHUDQGW\SHSUHVVWKH3RZHU2Q2IIEXWWRQRQWKH
UHPRWHFRQWURO,IWKH'9'GRHVQRWVZLWFK21UHSHDWVWHSDQGXVLQJRWKHU
PDQXIDFWXUHUW\SHVDVOLVWHG
´'9'µ6HOHFWLRQ!
0DQXIDFWXUHURI
'9'3OD\HU
6HW
0DQXIDFWXUHU
6HWW\SH
0DQXIDFWXUHURI
'9'3OD\HU
6HW
0DQXIDFWXUHU
6HWW\SH
+,7$&+,
 a 5&$

)81$,
 0LWVXELVKL

3LRQHHU
 a 21.<2 
5('
a
3DQDVRQLF

a =(1,7+

*5((1
726+,%$

a 7+20621

<(//2:
3KLOLSV

a 6+,1&2

%/8(
-9&

6.<:257+

6$0681*

%8%8.2

6RQ\

a '(121

a
6KDUS

a <$0$+$

a
´67%µ6HOHFWLRQ!
0DQXIDFWXUHURI
67%3OD\HU
6HW
0DQXIDFWXUHU
6HWW\SH
+,7$&+,
 a
726+,%$

'*7(&

3DQDVRQLF

=LQZHOO

3;


3OHDVHQRWHWKDWQRWDOOPRGHOVRIWKHOLVWHGPDQXIDFWXUHUFDQEHRSHUDWHGXVLQJWKLVUHPRWHFRQWURO
background

7528%/(6+227,1*
%HIRUHFDOOLQJVHUYLFHWHFKQLFLDQFKHFNWKHIROORZLQJWDEOHV¿UVW,IWKHSUREOHPLVQRWEHVROYHGZLWKWKHVXJJHVWHG
SURFHGXUHVFRQWDFW\RXUORFDOGHDOHU)RU\RXUVDIHW\1(9(5WU\WRUHSDLUWKHSURGXFWE\\RXUVHOI
:KHQ)ROORZLQJ0HVVDJHV$SSHDURQWKH6FUHHQ
0HVVDJH &RQGLWLRQ$FWLRQ 3DJH
3RZHU6DYH
7KLVLQGLFDWHVLWLVLQ3RZHU6DYHPRGHLQ$95*%PRGH
7KHLQGLFDWLQJODPSOLJKWVLQRUDQJH

1R6\QF6LJQDO
7KHXQLWFDQQRWGHWHFWDQ\VLJQDOVIURPDQ\LQSXWWHUPLQDOV
&KHFNLIWKHFDEOHLVFRQQHFWHGFRUUHFWO\DQG¿UPO\
&KHFNLIWKHSRZHURIDQ\H[WHUQDOHTXLSPHQWLV21
&KHFNLIWKHLQSXWVHOHFWLRQPDWFKHVWKHFRQQHFWLRQWHUPLQDO
&KHFNLIWKH3&LVLQ3RZHU6DYHPRGHRUQRW

a

,QYDOLG6FDQ)UHT
7KHXQLWUHFHLYHVXQVXSSRUWHGVLJQDOV
&KHFNLIWKHFDEOHLVFRQQHFWHGFRUUHFWO\DQG¿UPO\
&KHFNLIWKHLQSXWVLJQDOLVFRPSDWLEOHZLWKWKHVSHFL¿FDWLRQRIWKHWHOHYLVLRQ


1RW$YDLODEOH 7KLVVKRZVZKHQWKHVHOHFWHGRSHUDWLRQLVQRWDYDLODEOH
3OHDVH3XVK>5HWXUQ@%XWWRQ
7KLVPHVVDJHDSSHDUVZKHQ\RXVHOHFWRWKHUWKDQ EXWWRQZKLOH6FUHHQ:LSHLV21
3UHVV EXWWRQZKHQWKLVPHVVDJHDSSHDUV
&KHFN$QWHQQD &KHFNWKHFRQQHFWLRQVWDWXVZKHQWKLVPHVVDJHDSSHDUV

$XWR$GMXVWLQJ 7KLVLQGLFDWHVWKDWLWLVLQWKHSURFHVVRIDXWRDGMXVWLQJLQ5*%PRGH

:HDN6LJQDO
&KHFNDHULDOOHDGLILWLVGLVFRQQHFWHGGDPDJHGPLVDOLJQHGLQ'77PRGH
&KHFNZLWK\RXUGHDOHULILWLVRXWRIVLJQDODUHDRUQRWLQ'77PRGH
%DGRU1RVLJQDO
'DWDEDVHLV(PSW\
6\PSWRPDQG&KHFN/LVW
6\PSWRPV &KHFNOLVW 3DJH
1RSLFWXUHQRVRXQG
&KHFNWKH,QGLFDWLQJODPSVWDWXV2II5HG*UHHQRU2UDQJH
&KHFNWKHFRQQHFWLRQRIWKHSRZHUFRUGDQGRURWKHUFDEOHV
&KHFNLIWKHSRZHURIWKHXQLWRUH[WHUQDOHTXLSPHQWLV21
&KHFNLIWKH79PRGHLVVHOHFWHG
&KHFNLIWKH79LVLQ³6WDQGE\PRGH´RU³3RZHU6DYHPRGH´
$GMXVWWKHYDOXHVLQ³3LFWXUHPHQX´DQG³$XGLRPHQX´

a



6QRZ\SLFWXUHSRRUVRXQG
&KHFNWKHDQWHQQDFRQQHFWLRQDQGGLUHFWLRQ
7KH79VWDWLRQPD\KDYHEURDGFDVWGLI¿FXOWLHV
7U\DQRWKHUFKDQQHO

0XOWLSOHLPDJHVQRUPDOVRXQG
&KHFNWKHDQWHQQDFRQQHFWLRQDQGGLUHFWLRQ
)LQHWXQLQJWKH79
&KHFNWKHFRQQHFWLRQRIWKHH[WHUQDOHTXLSPHQW
7KH79VWDWLRQPD\KDYHEURDGFDVWGLI¿FXOWLHV7U\DQRWKHUFKDQQHO



,QWHUPLWWHQWLQWHUIHUHQFH
&KHFNLIWKHVRXUFHRILQWHUIHUHQFHLVVKLHOGHGZHOO
5HPRYHWKRVHNLQGVRIHOHFWULFDOGHYLFHVDZD\IURPWKH79
1RUPDOSLFWXUHEXWQRVRXQG
&KHFNWKHYROXPHOHYHO
&KHFNLIWKH
EXWWRQKDVEHHQSUHVVHGRUQRW
0DNHVXUHWKDWWKHKHDGSKRQHLV127FRQQHFWHG
&KHFNWKHFRQQHFWLRQRIWKHH[WHUQDOHTXLSPHQW

1RSLFWXUHQRUPDOVRXQG
&KHFNWKHYDOXHOHYHORI³%ULJKWQHVV´DQG³&RQWUDVW´LQ
³3LFWXUH0HQX´


7KHUHPRWHFRQWUROGRHVQRWZRUN
&KHFNLIWKHEDWWHULHVDUHLQVWDOOHGFRUUHFWO\
7KHEDWWHULHVPLJKWEHH[KDXVWHG5HSODFHWKHPZLWKQHZRQHV
5HPRYHDOOWKHREVWUXFWLRQVLQIURQWRIWKHVHQVRUZLQGRZRQWKHXQLW
&KHFNLI\RXVHOHFWWKHFRUUHFWGHYLFHE\'HYLFH6HOHFW79
'9'67%EXWWRQVRQWKHUHPRWHFRQWURO
&KHFNLIWKHEXWWRQVRIWKHFRQWUROSDQHOFDQZRUN


background

7528%/(6+227,1*FRQWLQXHG
6\PSWRPDQG&KHFN/LVWFRQWLQXHG
6\PSWRPV &KHFNOLVW 3DJH
1RUPDOSLFWXUHEXWQRFRORUQRUPDOVRXQG
&KHFNWKHFRQQHFWLRQRIWKHH[WHUQDOHTXLSPHQW
&KHFNWKH³&RORU6\VWHP´LQ³6HWXS0HQX´

a



,PDJHLVSDXVHG &KHFNLIWKH79LVLQIUHH]HPRGHE\SUHVVLQJ EXWWRQ

1RSLFWXUH
7KH,QGLFDWLQJODPSĺ2II
&KHFNLIWKHSRZHUFRUGLVSOXJJHGLQWRWKHVRFNHW¿UPO\


1RSLFWXUH
7KH,QGLFDWLQJODPSĺ2UDQJH
,WPHDQVWKDWWKHXQLWLVLQ³3RZHU6DYH
PRGH´
&KHFNLIDOOWKHFDEOHVRIWKHH[WHUQDOHTXLSPHQWDUHFRQQHFWHGFRUUHFWO\
DQG¿UPO\
&KHFNLIWKHSRZHURIWKHH[WHUQDOHTXLSPHQWLV21
&KHFNLIWKH79$9PRGHKDVEHHQVHOHFWHGFRUUHFWO\
&KHFNLIWKH3&LVLQ3RZHU6DYHPRGHRUQRW
5HIHUWR³3RZHU6DYHPRGH´DQG³:KHQIROORZLQJPHVVDJHVDSSHDUVRQ
WKHVFUHHQ´

1RSLFWXUH
7KHLQGLFDWLQJODPSĺ*UHHQ
&KHFNLIWKHVLJQDOFDEOHLVFRQQHFWHGFRUUHFWO\DQG¿UPO\
$GMXVWWKHOHYHORI%ULJKWQHVVDQG&RQWUDVWORZHU

a

7KHUHDURIWKH79PDNHVDEX]]LQJ
VRXQG
7KLVFRXOGEHWKHVRXQGSURGXFHGE\WKHPRWRUIDQZKHQLWURWDWHV
7KLVLVQRWDPDOIXQFWLRQ
7KHWRSRIWKHXQLWDQGVXUIDFHRIWKH
SDQHOKHDWXS
,WPD\KDSSHQZKHQ\RXXVHWKHXQLWIRUDORQJWLPH8QSOXJWKHSRZHU
FRUGIRUDZKLOH3OHDVHQRWHWKDWWKLVLVQRWPDOIXQFWLRQ


7KHLPDJHFRQWUDVWUHGXFHVZKLOH
GLVSOD\LQJVWLOOLPDJHV
,IVWLOOLPDJHVDUHOHIWRQWKHVFUHHQIRUPRUHWKDQPLQXWHVSURWHFWLRQ
IXQFWLRQZLOOZRUNDXWRPDWLFDOO\VRWKDWFRQWUDVWUHGXFHVWRPLQLPL]H
LPDJHUHWHQWLRQRQSODVPDGLVSOD\SDQHO3OHDVHQRWHWKDWWKLVLVQRW
PDOIXQFWLRQEXWLWKHOSVWRPLQLPL]HLPDJHUHWHQWLRQ
7KHRULJLQDOFRQWUDVWZLOOUHVWRUHDIWHUPRYLQJLPDJHVDUHGLVSOD\HGIRU
DERXWPLQXWHV2ULJLQDOFRQWUDVWFDQEHUHVWRUHGTXLFNO\E\WXUQLQJWKH
SRZHU2Q2IIZLWKUHPRWHFRQWURORUSRZHUVZLWFKRQXQLW
:KHQWKH9&5LVLQVSHFLDOSOD\EDFN
IHDWXUHV)DVW)RUZDUGRU5HZLQGWKH
VFUHHQJHWVGDUNDQGFDQQRWVHHWKH
LPDJHDWDOO
,WFRXOGKDSSHQZKHQWKH9&5LVFRQQHFWHGWR&RPSRQHQWRXWSXWVXFK
DVL7KLVLVQRWPDOIXQFWLRQ

7U\&RPSRVLWHRXWSXWRU6YLGHRRXWSXWDQGFKHFNWKHSLFWXUHDJDLQ
6RPHVFUHHQGLVSOD\VL]HFDQQRWEH
VZLWFKHG
&KHFNWKHVLJQDOVWDWXVE\SUHVVLQJWKH
EXWWRQRQWKHUHPRWH
FRQWURO7KHDYDLODEOHVFUHHQGLVSOD\VL]HLVGLIIHUHQWGHSHQGLQJRQWKH
FXUUHQWVLJQDOVWDWXV


a

&DQQRWEHGLVSOD\HGWKHLPDJHIURP
+'0,a
&KHFNLIWKHFDEOHVDUHFRQQHFWHGFRUUHFWO\
&KHFNWKHRXWSXWIRUPDWRIWKHHTXLSPHQW
3OHDVHUHIHUWR³&RQQHFWLQJ3URFHGXUH´DQG³5HFRPPHQGHG6LJQDO
/LVW´

a

7KHLPDJHDQGDXGLRDUHPLVPDWFKHG
ZKHQLQ5*%RU+'0,aPRGH
&KHFNLIWKH3&5*%+'0,DQDORJDXGLRLQSXWWHUPLQDOLVFRQQHFWHG
WRWKHVDPHH[WHUQDOGHYLFH


background

7528%/(6+227,1*FRQWLQXHG
6\PSWRPDQG&KHFN/LVWFRQWLQXHG
6\PSWRPV &KHFNOLVW
3DJH
7KHLPDJHRQWKHVFUHHQLVPRYLQJLQ
DQREOLTXHGLUHFWLRQ
3&LQSXWPRGHRQO\
$GMXVW³+RUL]RQWDO&ORFN´DQG³&ORFN3KDVH´

7KHFRDUVHKRUL]RQWDOVWULSHVFRXOGEH
VHHQLQIXOOGLVSOD\PRGH
3&LQSXWPRGHRQO\
$GMXVW³+RUL]RQWDO&ORFN´

7KHSDUWRIWKHLPDJHLVODFNLQJ
3&LQSXWPRGHRQO\
&KHFNLIWKH³6FUHHQ6DYHU´LV2))
7U\³$XWR$GMXVW´

7KHKRUL]RQWDOVWULSHVDUHPRYLQJ
YHUWLFDOO\ZLWKÀLFNHULQJVFUHHQ
3&LQSXWPRGHRQO\
&KHFNWKH6LJQDOVWDWXVRIWKH3&E\SUHVVLQJ
EXWWRQ
RQWKHUHPRWHFRQWURO
:KHQWKHFKDUDFWHUVDUHGLVSOD\HG
RQWKHZKROHVFUHHQWKHYHUWLFDO
VWULSHVDSSHDUDQGVRPHRIWKH
FKDUDFWHUVDUHEOXUUHG
3&LQSXWPRGHRQO\




7U\³$XWR$GMXVW´
,IWKHGLVSOD\FRQGLWLRQLVQRWLPSURYHGZLWK$XWR$GMXVW
DGMXVW³+RUL]RQWDO&ORFN´

:KHQWKHOHWWHUVWULQJLVGLVSOD\HGLQ
IXOOVFUHHQDOORIWKHFKDUDFWHUVRQ
WKHVFUHHQDUHEOXUUHG
3&LQSXWPRGHRQO\




7U\³$XWR$GMXVW´
,IWKHFRQGLWLRQLVQRWLPSURYHGZLWK$XWR$GMXVWDGMXVW
³&ORFN3KDVH´WLOO\RXJHWFOHDUHVWLPDJH

:KHQWKHVPDOOSDWWHUQVDUH
GLVSOD\HGRQWKHVFUHHQWKHHQWLUH
VFUHHQLVÀLFNHULQJ
3&LQSXWPRGHRQO\
7U\³$XWR$GMXVW´
,IWKHFRQGLWLRQLVQRWLPSURYHGZLWK$XWR$GMXVWDGMXVW
³&ORFN3KDVH´WLOO\RXJHWÀLFNHUIUHHGLVSOD\

7KHWKLFNQHVVRIWKHOHWWHUVOLQHVHWF
LVQRWGLVSOD\HGHYHQO\
3&LQSXWPRGHRQO\
,WFRXOGKDSSHQZKHQWKHLPDJHZLWKPRUHWKDQOLQHV
RIYHUWLFDOUHVROXWLRQLVGLVSOD\HG
3OHDVHQRWHWKLVLVQRWPDOIXQFWLRQ

,PDJHFDQQRWEHGLVSOD\HGLQWKH
FRUUHFWSRVLWLRQ
3&LQSXWPRGHRQO\
3UHVV
EXWWRQWRFKHFNLIWKHLQSXWVLJQDORIWKH
GLVSOD\HGLPDJHLVFRPSDWLEOHZLWKWKHVSHFL¿FDWLRQRIWKH
WHOHYLVLRQ



1R3LFWXUHRUVRXQGLVRXWSXW
'77PRGHRQO\
,WPLJKWRFFXUEHFDXVHLWLVWXQHGWRGLJLWDOWHOHWH[WFKDQQHO
5HWXUQWRDQRWKHUFKDQQHO

)RUJRWWHQSDVVZRUG
'77PRGHRQO\
3UHVVDQGKROGGRZQ ><HOORZ@ >%OXH@DQG
EXWWRQVRQWKHUHPRWHFRQWUROVLPXOWDQHRXVO\IRURYHU
VHFRQGVVRWKDWWKHSDVVZRUGUHWXUQVWRWKHGHIDXOWVHWWLQJ


'XHWRWKHEDGUHFHSWLRQEORFNQRLVH
LQWHUIHUHVGXULQJ'77PRGH
'77PRGHRQO\
&KHFNWKHDHULDOV\VWHPWRLPSURYHVLJQDOTXDOLW\

/RFDOWLPHGLVSOD\VLQFRUUHFWO\
'77PRGHRQO\
&KHFNLI\RXVHOHFWFRUUHFWDUHDLQ³/RFDOWLPH´IURP
³*HQHUDOVHWWLQJ´


background

352'8&763(&,),&$7,216
63(&,),&$7,21
3DQHO
'LVSOD\GLPHQVLRQV
$SSUR[LQFKHV
+[9PPGLDJRQDOPP
$SSUR[LQFKHV
+[9PPGLDJRQDOPP
5HVROXWLRQ +[9SL[HOV +[9SL[HOV
1HWGLPHQVLRQV
LQFOXGLQJ2SWLRQDO6WDQG
:[+['PP
H[FOXGLQJ2SWLRQDO6WDQG
:[+['PP
LQFOXGLQJ2SWLRQDO6WDQG
:[+['PP
H[FOXGLQJ2SWLRQDO6WDQG
:[+['PP
1HWZHLJKW
LQFOXGLQJ2SWLRQDO6WDQGNJ
H[FOXGLQJ2SWLRQDO6WDQGNJ
LQFOXGLQJ2SWLRQDO6WDQGNJ
H[FOXGLQJ2SWLRQDO6WDQGNJ
$PELHQW
FRQGLWLRQV
7
HPSHUDWXUH 2SHUDWLQJ&WR&6WRUDJH&WR&
5HODWLYHKXPLGLW\ 2SHUDWLQJWR6WRUDJHWRQRQFRQGHQVLQJ
3RZHUVXSSO\ $&9+]
3RZHUFRQVXPSWLRQDWVWDQGE\ :: ::
$XGLRRXWSXW
VSHDNHU::
9,'(2LQSXW
,QSXWWHUPLQDOV
$9FRPSRQHQWYLGHRLQSXWWHUPLQDO5&$
/5DXGLRLQSXWWHUPLQDO5&$
$9FRPSRVLWHYLGHRLQSXWWHUPLQDO5&$
/5DXGLRLQSXWWHUPLQDO5&$
$9FRPSRVLWHYLGHRLQSXWWHUPLQDO5&$
6YLGHRLQSXWWHUPLQDO
/5DXGLRLQSXWWHUPLQDO5&$
+'0,a+'0,LQSXWWHUPLQDO
$XGLRLQSXWWHUPLQDO/5DXGLRLQSXWWHUPLQDO5&$
,QSXWVLJQDOV
&RPSRVLWHYLGHR3$/6(&$0176&176&3$/3$/03$/1
&RPSRQHQWYLGHRLLSSSSLL
+'0,9*$LLSSSSLL
SSS
2XWSXWVLJQDO
287387021,7
25FRPSRVLWHYLGHRPRQLWRURXWSXWWHUPLQDO5&$
287387021,725/5DXGLRPRQLWRURXWSXWWHUPLQDO5&$
287387+($'3+21(/5DXGLRPRQLWRURXWSXWWHUPLQDO0LQLSLQ
237,&$/287'LJLWDO$XGLR3&0'ROE\
'LJLWDO
5)LQSXW
,QSXWWHUPLQDO5HFHLYLQJUDQJH $178QEDODQFHGa0+]
5)9LGHR6\VWHP
3$/%*+,'.
6(&$0%*'..
176&0
'9%7
5*%LQSXW
,QSXWWHUPLQDOV
$QDORJ5*%LQSXWWHUPLQDO'VXESLQ
$XGLRLQSXWWHUPLQDO/5DXGLRLQSXWWHUPLQDO5&$
,QSXWVLJQDOV 9SSDQDORJ5*%5HFRPPHQGHG6LJQDO
6\QFVLJQDOV
+9VHSDUDWH77/OHYHO>.@
7KHXQLWWDNHVDWOHDVWPLQXWHVWRDWWDLQWKHVWDWXVRIRSWLPDOSLFWXUHTXDOLW\
7KLVDQDORJDXGLRLQSXWWHUPLQDOFDQEHXVHGIRU3&5*%RU+'0,aRQO\
background

352'8&763(&,),&$7,216FRQWLQXHG
6LJQDO,QSXW
5*%WHUPLQDO'VXESLQFRQQHFWRU
3LQ ,QSXWVLJQDO
5
*
%
1RFRQQHFWLRQ
1RFRQQHFWLRQ
5*1'
**1'
%*1'
1RFRQQHFWLRQ
 *1'
 1RFRQQHFWLRQ
 >6'$@
 +V\QF
 9V\QF
 >6&/@
6LQSXWFRQQHFWRUSLQVSHFLÀFDWLRQV
3LQ ,QSXWVLJQDO
<
<*1'
&
&*1'
)UDPH *1'
+'0,FRQQHFWRUSLQVSHFLÀFDWLRQV
3LQ ,QSXWVLJQDO 3LQ ,QSXWVLJQDO
70'6'DWD 70'6&ORFN6KLHOG
70'6'DWD6KLHOG  70'6&ORFN
70'6'DWD  &(&
70'6'DWD  5HVHUYHG1&RQGHYLFH
70'6'DWD6KLHOG  6&/
70'6'DWD  6'$
70'6'DWD  ''&&(&*URXQG
70'6'DWD6KLHOG  93RZHU
70'6'DWD  +RW3OXJ'HWHFW
 70'6&ORFN
background

352'8&763(&,),&$7,216FRQWLQXHG
5HFRPPHQGHG6LJQDO/LVW
:LWK+'0,LQSXW
1R
6LJQDOPRGH
+RUL]RQWDO
IUHTXHQF\
N+]
'RWFORFN
IUHTXHQF\
0+]
5HPDUNV
6LJQDO
1DPH
5HVROXWLRQ
9HUWLFDO
IUHTXHQF\+]
9*$ ;    &($'
L
;
   &($'
L
;
   &($'
S ;    &($'
S ;    &($'
L ;    &($'
L ;    &($'
S ;    &($'
S ;    &($'

S
;    &($'

S
;    &($'

S
;    &($'
:LWK5*%LQSXW
7LPLQJ1DPH
+RUL]RQWDO
)UHTXHQF\
N+]
9HUWLFDO
)UHTXHQF\
+]
3L[HO
)UHTXHQF\
0+]
6\QF
3RODULW\
+9
5HPDUNV
[#+]     9*$
[#+]     9*$
[#+]     9(6$
[#+]     9(6$
[#+]    
9(6$:;*$0RGH[
[#+]    
9(6$
[#+]    
9(6$:;*$0RGH[
7KHW\SHRIYLGHRERDUGRUFRQQHFWLQJFDEOHXVHGPD\QRWDOORZIRUFRUUHFWGLVSOD\VDGMXVWPHQWRI+RUL]RQWDO3RVLWLRQ9HUWLFDO
3RVLWLRQ+RUL]RQWDO&ORFNDQG&ORFN3KDVH
7KHXQLWGLIIHUHQWLDWHVWKHVLJQDOPRGHVDFFRUGLQJWRWKHKRUL]RQWDODQGYHUWLFDOIUHTXHQFLHVDQGWKHKRUL]RQWDODQGYHUWLFDOV\QF
VLJQDOSRODULWLHV1RWHWKDWGLIIHUHQWVLJQDOVKDYLQJDOOWKHVHHOHPHQWVDOLNHPD\EHKDQGOHGDVWKHVDPHVLJQDO
'LVSOD\LQJLPDJHVZLWKPRUHWKDQOLQHVRIYHUWLFDOUHVROXWLRQDW)XOOGLVSOD\FRPSUHVVHGGLVSOD\FDQUHVXOWLQWKHLQWHUSRODWLRQRIVWULSHV

Specifications

Indexed Terms: Plasma TV

Hitachi P42H01AU Questions and Answers

Questions and Answers

Related Products