CL VF
LIHI C]O] "GQNH CLE[D C]NOG CD[ [QC CLE[D ]LSHSLD OZD GU[ RLU UOTD GWL RLU
CHG CLDL DN LOU L[G [QHCG IZ ]HJSQD HSLS RNH PGLQLD LSHSLD G O H[LJQ HGI GC[S
FIK ZGUQ OGD U C]WTH]G LWU OHFEG H[HDLJD UQQ RNH P GSQG H[LWD PDQ[G [WH UOTD HLNTSH
PLNTSG PU RQ COH HJN CO LSHSLD G [LJQ CHG GI [HUL NHSDH
DN ]DFSD PN@ PHZQ H]HCDH GU G]HCD LSHSLD G [HQJ [KW RHLFWD R]LO L GC[S GI LWOH
HUDZ CHG [HUL P L[Q PLZLLFQ L POHCH LSHSLD G LWN POHUO PL[UQ P PDQ[G D]N
>P ]HJSQ GFH] JDIH FHF FL U PLQNJ
YU[ RHOLQ LWU
CNG O L E [ CNG O L E [ C[QED HGH[FH CLE[ CLIK LOQ TOW O PHE[] CLE[
FQOQ
[NIHQG RHW[K LD[ PL[QHC L RHW[K LD[F GLQZO GL[F [HQJ [KW GLO GHG GCLS GFHGL LD[
XDUL[ GD[G ][JHCQ GWHZ]D GLG GCLS GFHGL LD[ L[G CDLZU LD[ O HD[ RHW[K LD[ HSLC RCN
[DJ CL[ CLSG GFHGL LD[O GD[G PFZH UHFLG GI HSLC RCND GCLS GFHGL LD[ PL[QHC LH U
RLDGO LH RHW[K LD[ LSWO HQYU [HQJ[KWG JO GC[S GLO [QC GL[F RHOG KWQ
O H[HUL OU DLG HGQ RN PC HLHHD H]HFWO GY[ HQHO LFN [QHO RLCH@ MNO M[YHG UHFQ
>G
M[FO@ PLIHI GOQ PL]HJW [HQJG LQF PC DLDL PL[HND PDQ[G L[DFO [HZQ RCNQ GC[S G[HCNOH
UDZL RHW[K [O HJOHO M[YHG RN OU GD HC PLIHI GOD COC HLHHD H]HC PLFHW RLC >]LSHSLD
PLKUHQ HLQF GIG [HQJG FUD R]LO ML[Y GQN
HD]NH [HQCN [HQJG LQF RLSUO Z[ PL[HULG CLDGH GG L[HUL OON CLDG CO PDQ[G RNC
U HS]T[E LWN HCLDG PLSHC[G [C ON POHCH C[QED ][JC GT[E HO G]LG GC[SN PL[WQG
[HQJ [KW ]HFWO [WC OF[ GIL CHIJ C[EG PLZTHWG HD]N HS]T[E LWOH ]HNOG LKHZO QTN FDC[
>CHIJ PLIHI GO PLH PSLC LZOD HGO ZL[W HGIH@ PLIHI GO GH HSLCN PE HLHHD
RHW[K [ LSWO [HQJ[KWG JO UHFQ GI LWO [HCD ML[YH
GI GLG OLUOF GUFG LWO ]CIH CS ROGOFN RGN GLG RHW[K LD[O HS]SH GO TJLL]Q GL[F [WCH
HO JO PFHZ HSLLG RGNO D]LQO RSLUD GQN GLO [QC H ZU[ O HD[ RHW[K LD[
GQ LW OU I GLNI GN RLJHO PL[WC GSJQ [WTD D]N LHFW HSHLFW H[LDJ O [HQJ [KW GFHWG
HCOH PFC OND ]NLL RHLFWG ]HYQ COC GLNI HC ]HJLO RLFQ OJ RHLFWG RLC TH]G L[DFQ GC[S
PLOUDG HOLWC RN PC DN[ FJG YY DF ]HQH[] QOQ GY[ T]J ]H CKL[GQ U PLOUDD CZHF
[CN P RFH@ H[DJQ GHYQ VKHJ RLFN HTSHZO L COC RHLFW HSHLFW GI O HSHLFWO PLFES]Q
>HCO PC GHYQ VKHJ RLFN PLDHGI G[U POQ PCG GFWH [JC PFZH H]HFWO FJCO H[QC PLOUDG
[QHO C[QED FY GLG L[G HLSWD CO PFCO RLNI RLF COO PE GLFWG GOLUHQ JLNHGO D]NH
MND XWJ HSLCH PLOUDO ]HNI RLC LCFH GID COGH GFHWO MLL RHLFWG
EQ
]UF VTHL
[QHO L PLOUDO MLL RHLFWG HSZTG GQ LWO HI GJNHG ]HJFO D]N JIL LC RHIJD POHCH
CDKL[G ]KL CLG MN RNCH HJ[NOUD OLUHQ RLCH HLSWD CO PFCO RLNI RLF PHQ OJ RHLFWG
H[DJ O [HQJ[KW ]HFWO OLUHQ GI EN RLHFZD PLSHC[ GQN ]UF RNH F ]HQH[] MOQO GSQD CDHQG
O OU HOQ P[H]D HO PL[FSD C[QEG ]LUD ]C HS]LEHTQ KHWO L H]UFOH@ CHG RLNI PHQ
TH]G ]KLN COFH >H[DJ
CY ZDD H[QC HQN HO GHYQG PHQ HFL OU DNUO PLOUDG OHNL CHIJG D]N TH]GO VCH
GEL[GO FQHUG [HD
OSN PLDHGI G[U HO POQ COC LHFW GFWH PFZ PC ODC GOLJ]NO COC HSLC GI DHNLU KHW GC[SH
UKS RHLFWO JKW RLD ZOJO L H]H[D HSLC [DF OU RHLFW ]HOJ ]HFHC IJ UQ PDQ[G OU J[EG LHFJD UU
[HTLC ]UZWG COC RHLFWG RLC JKWD NCQ H]H[D HSLCD CC MNO OHOLJO RLSZ ][H] L P UQH LUD[
QQH [UQN HSLCH H]HFWO PFC ON OHNL FZG RHLFWN GI L[G GCSGD [HTC [HQJG PHQ H[W JT ZDD TH]GH
PLOUDO HSHLFW MNOG QQ FZGN HSLC
OSN RLNI PUKQH PLOUDG JLON CHG PHQ H]HFWO [JC OHNL MNO PLSH[JC HD]N GCSGD [L]QG RHUQ LD[O HOLWCH
>PLOUDO MLL LCFH COG [O ODC ]HNI RLC ICH GFHWO MLL [HQJG FYG LWO DLLO HCD LN GI PUK HD]N CO TH]GH@
T]J LHFJ FDN[ FJG ZFY JQY LWU FZGN GI L[G RGN RHQQN CHG RHLN HC
HQ[] ROIEGH DSEG RLSUD ZDDH RCN TG OU J[EG LHFJ D UU
HLNU HO RLC LWUCH PLOUDO OWN LQHO] POQ H[DJ O [HQJ [KW DSHEG UQ C]
OU Z[ CO [HQJG LHH ON [HDU OWN LQHO] POQ UQQ LFLQ CO H]H RQI [JCO HO L
GQHF GI RLCH@ GLFWG [JCO HSHQQ CGL HOHN [HQJG LSWQ G LQFO [HQJ LQF RLD [WGG
HSQQ ]HSGLO GOHNL VTN ODZ] ML[Y P LN [WGG PHNTD COC ]FHZQ GCG RLC RLHFLZO
H[DJ O HODK DSHEO GI RLD ZOLJH >FZGO LQF CO GFD PH[E HSD[ H[LWD PE UH@ ED GDSE OICG RDC LWU >OUHWD
OON HO PSLC HNH]D QH[]G P LN RLOHJG LQF LWN COC HO POQ HSLC
RHLFWG [JCO []G HO L RHLN HO CHG L[G GCSGD [HTC HLNU LW OU VC CSZTQO [CHDQ
H]HFWO HFLD RHLN ED GDSE OG PDQ[G ZTW RNH LQF RHQQN HCO RHQQO P[HEG [DF [QCF RCQO HOLWCH@
>IK [HC LFHQU LWU ONG L[DFO [HQE RHQQ HGL[G FLQ
[DFD L GHYQH H[FS OU OCLN []G HO L RHLN GCSGD HLTNS [THCO RCNQ FHQOO L LOHCH
EO[ DJ ]HD CD[G FFY RN HON PLTNSG PLDJS
HJ[N OUD HSOKLO PL[JC PLOHNL HQYU OU PSHZD [DF [THCG GW PL[FS R[D CDHQ HQYU CD[G L[DFQ [LUGO L C
]HQSHZH GCSG L[HTLC OU ]HOUD ]HFHC IQ PL[FSD CDHQD UUH
RHLFWG [JCO []GG PHQ RHQQ RLF HD L [HQJ[KWQ CS LCQ PL[FSD CD[G OU [LUG KC [L L[U [WTD RNCH
HQLG ]ULSQQ ]UDHS GSLC GCSG L[HTLCQ ]HOUDG ]ULZW RHLN PLSHFLSG RLD ZOJO CYLH OCGO GHYQ RCN PE COGH
ULZWQ HSLC RQI [JCO []G ]HLGO F]HUQG [HTLC MNOG ]HOUDG ]C ULZWQ CHG GCSGD H[THCG G[H]G RLF COC OUHWD
LFL]UG []GG RLC GI [HTLCD RNO U[WQO H[ZUOH OCGO [WC COC []G ]HLGO F]HUQ HSLC PSHZ [HTLC POHCH ]HOUD
LSQI COH LFLQ] [HTLC PYUD CHG L[G PLLZ [HTLCG G]U L[G G]U RHQQ RLF P[HE
PFCG O HSHQQ MN PHQ DJS GKH[W GH OU HOOJO []HQ FZG ]HFHC IFU UGC [IS LSDC ]HD UU D
FQ
CL VF ]H[HND
FZGQ DSHEG ]C OWNQ [HKWO ]H[F L] ]N[YG OU
FZG ]LDQ COH CSQJ[ [QC LCG ]LDQ DSEH
HU ZD ]UF VTHLD CDHQD U TH]U
TH]G HO RGH R[UQH RLL G[U RGLOU L[WQ PL[HQJ L[KW ZWT G[U HO HLG OC[L
][WO [HQJ L[KW GQN [KHW FJC G COGH RLL G[U KZS UHFQ HZG
Z[ PC HOLWC L[G RGNG ]LW] OLUH] ]HZWTG ON OU FJC G Z[ L[WG RNC PC [WO LH
RGNG O G H]HC ]HZWT GQNH GQN RCN L RHLNH RGNO MLL GG RHLFWD DLLJ FJC [HQJ
MNO OHZ ZWT COC HD RLC GH G ON OU L[G [HQJ ONO FJC G L[WQN ODC GTLW] GOLUHQ
[UQ ON L[G HFLJ HD RLC [DF HO RGH RQJS D[ LEFG RN OUH RGNG ]LW] OLUH] CO
I QD RGNG GJQ [LCQ [ LHFJ LWU CHG PLOUDG O GQGD
LWO GZ NCH [UQD DLLJ HSLC TWH]G RGNG FLQ GG PLCLYHQ RLC PHZQ OND UQQ L[WN P QDD CLEHTD
GSQG RHO KW L[GH GD RGNG ]HNI PHQ [U]GO TSNS HSLC PL[HQJ L[KW GQN FJC GD GFW PC CYHL OSG G[DTG
GD[G PLQUW HD GFW FJC H]HCD UQQ [U]GO [LFO TSNS GD[G PLQUW HD GFHW LS]ZF RN UQQD RLC
CL GDH]D CD[G [CD HQNH OC[L RHQQN JKW RHLFW DJS HFLQ PLCLYHQ RLC LWUC PDQ[G ]UF POHCH
ZO HL[DFOH
HO PGQ FJC L[G RGNG ]TLW] OLUH] RLL G[U L[WQ PC PE NC GTLW] GOLUHQ DH[G PHQ PC DY C[DTG VHEH
CG ]H[HND PDQ[ HJNG ]C PGQ FJC RGNG OKHS RHC[ LQ UHFL RLCH PL[NI LS GFOL OJ[ RLFNH DH[G LW OU
OLUH] CO UHFQH ]LSHQQ ]HNI OU DH[ RCN L LQS CNGH ]LCFH RHQQ ]HNI HO LH OLCHG [HNDG CHG PC UFHL HSLC PEG
GTLW]
CDHQD U ]H[UQ RLSUO JHZO RLFD PLSHC[G ]HKL OU
PLDNHN FDHUG RQ RLJ[HQQ PLODK JZHOG
JW QD ]UF VTHLD
]HJSQD CDHQD U TH]H L[ J[QQG PFCD >PE@ LHO] HC JH[LQ ]UD L[NSG ]HOUDD LHO] PCG
L[NS JH[LQ RLFDH
IT
]HKW LWN [WQ HKCL [UQ FDC[G HL]H[LWN PLDNHN FDHUG OYC HL]H[LW FLZWQG DU
PLSZH]Q ]H[LW FLZWG HOLWC MNOG HL]H[LWD L[NSG PWLOJG LCFH PLSF CQZ CS]O CLEHTG
][IE PHQ DLLJ RSD[FQ [KHW L[NS JH[LQ LW OU VCH L[NS ]H[LWD HWOJHG ]ZIJD [UO ML[Y
TH]G HD]N HQNH RLTLN LOUD
OC[L UHFL LW OU VCH GLG RCN LHEG OYC CYQS RCN PHQ VLOJG ]LCFHG GJSGG PUKH
JDQ FHL [IS LSDC RCN PQHZQ LHEG ]H[LW HOLCH PQHZQ GI RLCH G[ZQ M[F HGI HOYC FLZWG
PC MNOG@ ZWT COC GSLC GWOJGG P DU[G [W RNH FE LCQF C[GH P PDQ[G ]UF POHCH
VC PDQ[G ]UFO [KHW HJH[LQ L[GH L[NSG PWLOJG LCFH PL[QHC RLC P]NCOQ G[QES PLODK FLZWG
FFY ]QC ]WDH HS]LEHTQ MN OU P CZU[EG GQ]H >VLOJG CO CQ L[WGO DLLJ COC RSD[FQ
RHLU ML[YH LCFH ODK OU GIQ L[WGO RLC MNOG CYL CO ZWT LFLQ R]LO DLLJQ CQZ CS]O HOLWC
GN[D RLSUO
GQ
]UF VTHL
GYJQ M[FD ]H[LW CYHQG LD RL[LNQD [UQ ZWT OU LCQF RHO FHU HSLYQ
LCQF [QHC RHUQ LD[
]HOHZH PLSLF HO LH X[CG PU ]H[LWO LHSLN CHG PHZQ OND LCQF N HSLCH@ LHG CZLWT [QHON [DH LCQF GYJQO
>CK [UQ MOQO GSQ UH GOHFE GQH[] HSQQ PLL[WQ RLC PEH PL[UQ GU DH[ LSWQ PLFJHLQ
RGQ L[WQ G]C LC PHNUG RQ JZHO G]C PLODK [UQ ]QH[]D RCN GOHFE GQH[]D RCN
L]CD HO [QHC LHOO HS]LOQ [HKWH L[WQ [UQ RLSUO RLFG CHGH RGNO GS]HSH [UQ ]QH[]
RGNO R]LO DLLJ GOHFE GQH[] Z[H HO GDH]DH CLC ]HQH[] PDQ[ LWU HQU RHFO OHNL MSLC LQ JNQ
]HNOG LKHZO PDQ[U [UQ ]QH[]D COC [HKWO G[H] G]OLE CO MNQ
JNQ CSL]CZ ][DTO PLN[YS ]QCG LWO UHFQ PLSWHC LS PL[CHDQ CLC ]HQH[] LHOG J[EG LHFJD
RHOQ UQQ LWN [UQ ]QH[]D DH]NG RQ FJHLQG FHQLOO PEH LLHU]CO LYQ COF C[DE
PDQ[G
H]HLGO FJQ GSL]S DHLJ HLOU OJ CO FJO CD DH]NG COC G[DTG FYQ CHG [HKWG [ZLU C
GQH[]D COH DH]NG GOLE [UQ ]QH[]DH [UQD CZHFH OC[L ]H[D ]H[LWG [CN DLLJ]QH [IHJ
GOHFE
[HKW RLC ODC ]HHYQ [D HSLC PHQ [HKW L[NS PUKG [QHC L]LLG DH]NG FLJ COHOLC D
PHQ COC [HKW HSLC HQYU CHG PE LN HJNQ CDG ]C [HKWO MLL RLC RN OUH ]H[LWG PYUD GUZWGH
GI [HKWH [HKW HJNQ CDG ON PE RNO ]H[LWG PYUD [HKW FJO DH]NG CD MNO GHHYQ HSLC
GOHFE GQH[]D [QCS CO
RLFG CHGH@ RHC[ [UQ [WO D]NH HI M[FQ GKS IO GQO ]JSQ H[WTD OYI MD[ULHC I[EGH
RHQQD [DFN COC GSLC H]HHYQ L[G GHFZ HD RLCH PL[IO []HQ RHLN >M[HCD U LSU [UQ
POHCH MN OU FHQLO PHO M[HY RLCH CSL]CZ ][DT LSWQ H]SL]SQ [HKW JZHOG MNLWO CFL[E
]NLL RLC GOHFE GQH[]N LGL[G GHFZ GD L RHLN CQ [DFD ZW]TGO PHZQ GLG [UQ ]QH[]D
[UQG RQ COC [UQ]QH[] DHLJ [QCS CO CQ HC PLSGNG ZHJ CLG RHLN G[KHWO HI G[DT
RCN GOHFE GQH[]D RCN CQOF G[DTG FYQ ZOJO LQLF D[ O H]UF G]LG HIH@ LHOO HS]LO PLDLLJQ
OU ]HOEO DH]NG CD MN OUH >C[Z COD VC RN ZOLJ G[DTG FYQ UQQ [UQ ]QH[]D
G]C PLODK D COC [UQ ]QH[] DHLJ RLC DH]NG [H]LQ G[F COH C[ZQ O HKHWQ G[DTG
RCN FU LHOO R]LSG RHC[ [UQQ Z[ VU]TQ [UQ ]QH[] DHLJ RHLN OC[L LSDQ JZHO LHOG
HL[DF V[H]
DL VF
PC GUHZW RDD ]HFWO [WC PCG HZW]TS MHQTD RNH@ LJ COC G LH[Z RLC GKHJD COH
>KHJN HSLF RHLN HCO
KL[GQ CLDG RNH [HQJ LH[Z HSLC RHLFW HO RLC DH ]Q CHG PC [HQJG RLSUO PE RLFG RN GC[SH
KLCN GL[WG POHCH ]Q [HQJ [KW PLFHW RLC J[Z L[WTGQH HC C]WTH]GQ FL DL ]HC LICEOC
CN FHL RHLYO [HC ]HD U H]HFWO OHNL D]N
HQ