HE[HGO PNG ME[GO CDG RLFN HLLJ
FESN GFQ H]U[ ZDO []HQ ]HL[DO U[G U[ CU ZLFYG ]ZFYD UH MLSWO PLONHQ HLGL PSHU OU
GUQG FHFH ULOCD HSLYQ HQN GFQ
QU CJ HGLOCQ D]NQ HK CSLS] R[GHQ LKHZLO U PLSEHGQ PSLC PFC LSDD POLNG RLSU OU FHU
LQOH[L
L[CN GZ CHG GU HO L [NI UHDYD COC [QHC [LCQ LD[ GLG CO RHD [D LTHL [ [QC
CD[D CDHQ RLZ[W VHT
ON LSWQ DHL COH MOQ CHG L[C CZHFF DCIN GWL[KD GLJ[HCF [QHO ML[Y TOF[DH [QSH DHFH
USUSQH LJ PW[K FHUD PLONHC PSLC PDDO M[HQ LSWQ ]HLJ [CH DCI ODC ]HQ] FU GO RL]QQ RLC
C[G RHO
HLSLUD COWL CO RQIO RQIQ H]HS]GH LQG ]UOH] OHFLE UFLH GC[ LQH PLS I [JCO UHDY
UG PLUDKG ]HS]G ]LCHW[]L]NOG YSC UH XDUL[ ]HGEG
IL VF
][HW RD DL]NF VTHLN GOLNO GNHI PLKD LS ]OJSO GNHI PLFTJ ]HOLQEDH G[H]D ZTHUG ON
GOLN@ VTHL PGD GNI PLDH[Q PLCYCY VTHL ]OLN [W C[GQG [NL ]OJSO GNHIH VTHL
PEH >OICQN GLD[H GL[W RHOQ CL[HW RHL[WC RHO ][HW RDQ H[F HGIH GKLQO IQ[Q
ZHTUO ONHL LFN PLDH[Q PLTNSO GNI [NL ]OJSH PLSD G ]OJS GSG GOJS PLSDG HC[ZS
RI VTHLN PLFTJ ]HOLQEDH P[E [HQJ [NLN G[H]D ZTHUG RNOH ]UFG DHLDH GDJ[GD G[H]D
HOC ]HOJS L]O GNHI [D [LDGH ONONH
PLFTJ ]HOLQED OHFE GLG VTHL LN CZHF [NLH VTHLD H[N DH]NG GO] MNO PLLJ ][H] [WTDH
HLG [NL LSDH GU[ HQU HOQE HLJC PU FTJ OQE FHUH POHNOND OC[L ]LD ON PU FTJ GU
]UFO PL]UO GSLD LUFHL [NL LSDQH EODL CPLQLG L[DFD DH]NN OC[L ONO GHFQOH G[H]D PLOHFE
RHOHDI LSD ]TS[WO PLN[YS HLG L[G ZJHFG MH]Q G[H]D HZTU FHUH OC[L GUL GQ
VTHLN GOLNO GNHI MNO HQYUD OC[LO FTJ GU VTHL LN [NLDN GOJS COH VTHLN GOLN KZSH
]OJSO [QHON GSLD LUFHL ]OJSO GNHI [QC MNO G[H]D PLOHFE HLSD HLG HSLYQ [NLD HOLCH HQYU
GOJS HOKS CO PQYU PLKDG LN HLSD
HI M[FD [W FU[] JOLH OCHQQ P [WTDH
[HQJ H [H L P]QHUO RN PL[WTD CDHQN OCUQLH HU GWLOZF [HQJ H [H L HQN
LG LN[FD DOG ]GDEG GHFZD [HH ZLIGO H]SHHNH JH[G ]HTE HSLLG GWLOZD [H GHFZD
ON MHQ GIDH G[]L ]HDGO]GDH OHFE JND LG ]FHDU GD LS[Z GQ[ [H JND ]HCHD] D[H
OUHWD PLFTJ ]HOLQE MQS GIDH ]HLJH ]HUWG LSLQ
OU PG LN[FD HDO GDEHQ ]HLJDH GHFJD FLQ] GLG HO [FG H[H [HND VTHL O H]FLQ CLG HI
ON G]LGH LJ C[ZS ]L[DG [QH H]FLQ G]LG HIH HLOU H[DU ]HSHLTSGH ]HCO]G ON VC
[H FESN CHGH ONO TS[WQH RI GLG HSQQ MQS RN OU RLWSCF H[LGSDH ]HDGO]GH ]HLJD H]FHDU
PLS[Z OUD GIH PLS[Z OUD GI KY [D U HU GWLOZF
OHDTO HQN KLH G[H] DGHC CHGH [QHJGH GHC]G LHOLQ GWLOZF [HQJ ]QHUO CHG GHFZF [HQJ
DGHC GHFZD H]QHUO DU[ HULDQ RLSUN MOHGH VLTHQ ]HU[G ]HHC]G ]QHUOH G[H] OHU
CQO [HQJN G[H] OHU HLOU ODZQH [HQJN USNS COC HJ ]HCLED CO MC G[H] LQUK UDL CO G[H]
[NL O H]FLQ LGHI
LSLQ LS ]C HSQQ RLNLOQH HOOG PLKDG LS ]OJSO GNHI PLFTJ ]HOLQEDH G[H]D ZTHUG RN OUH
ZDF PFC G[H]G >L[DH G IU HSLSWO G[FO GOLDZQG GCSD [ ][FN@ PFESN U[G [YLG
GFHDU MWG CLG PLFTJ ]HOLQE RNH GCLD L[HTLC OG VHTD PDQ[G L[DFN ]HHC]D ZDF ]HLGQ H]CLYHQ GD
HGHQN HL]HL[D ONG L[G LGO HOHKLD ]CWQ ]NQS PLFTJ ]HOLQE LN PLQF ]HNLWH TUNH G[I
MOLCH QU ZFY [DHF ]HLJ X[GQ UUH ]HLNHSCH GCS GCSZ COO PGHQN
G IU ]UF VTHLD CDHQD UU
ZLIQG RHQQ RLSU
FU HQYU ]C [[DOH ]HZSO PFCG ML[Y MLC LG HS]HC FQOQ PLKWQ G[FTG ]CID GSGH
PHO HZLIL CO ]HDHK ]HFQ PGD PE CYQS GLGLH HLSLSZ ON OU KW]]H MQL] HDHK ]FLQ
PFC
MN ON ]NNHIQ HWS RLC LN RUL JQYS ZILGG LN POO ML[Y ZLIQ PFC O HSLSZN RN OUH
ZLIGO PLOHNL HLSLSZ RLC MNHIQ PFCG DO PCD LN H[LDJ ]C OHIEO HC ZLIGO HLSLSZ HONHL RNOH
GN ]LSU] U GLS[ZD CDHF L]LLCF CTHF RD CSLSJ [F CILUD CYQS HQN H[DJO
]LD O ]LSHOW CQC LSHOW CDC R]HC RL[HZ RLC ]HJWH PLFDU IK ]HN[D C[QED C]LCF GIH
OU PE KW]S OCLOQE RD[ ]HFZ JNQ HSLLG LDLJF PHQ R]HC RL[HZ HLG OCLOQE RD[
PLKWQ CYLDILCQ ZG[O JHOG LQ PLDHK RN PE HLGH HLSLSZ
]OQH MFCQ ONDH MWS ONDH MDDO OND PL[QHC HSC UQ]CL[Z ][WDF [HCLD []LDH
HQNH RLY[CG RLYSCE RLLF RLC HDDOD G ]DGC TLSNGO PFCG ML[Y ZLFYL[WG [WQ OND
FCQ O VC KW]L HO FCQ D HO G]DGCG TLSNGO ML[Y MFCQ ONDH MWS OND RN
PLZFG PLQLSD VC HDOD G ]DGC TLSNQ PFCG GQ LWN PFCG ]HFZD LHO] ]QCD GI [DFH
HFCQDH HLSLSZD VC GDGCG KW]S RN DOD
LN [QCGO R]LS ]QCGH FCQ G ]C DHGCO ML[Y [JC H[LW RN PE HO L MFCQ OND GSGH
]SLJDD HDDO L[FJ OND KW]Q G ]DGC PC HDDOD FCQ D LHO] HKHWN MFCQ OND G
CHG RN PFCG O FCQG LWN GID LHO] GIH HLSLSZH HFHCQO VC GDGCG KW]S IC FCQ
G PLKWQ HGLOFE [HC HSHQQ HFHCQ
]ZFY RGNG ZHFY [ L[WTD U HSQQ PLUWHQH ]L]HGQ GSLJDQ HLOC PLNLLG PFC O HLSLSZ RLSUD FHU
CDHQDH ]UF L[HU [WTD GDJ[GD FHU GC[H FHUH QU PLHFZ OC[L E PL[WHT L[DF KQ[ IYZ ZLFYG
EL GKHT ]UF VTHLD
OU []HL GOHFE PFCG O H]UWG GC[S HSHOQ PSQC PLQQHFG PLYWJG LWON PE [DFG RN [CHDQ P
PGD L RN ][QHJO LQLSW PUK R]LO L GIDH QJYF ]HE[FQD []HL HLOC PLDH[Z PG L[G PLLJG LOUD
PLQQHFG HLYWJQ CD ZIS OU [CQ HO PLNLLG PLLJG LOUD ZIS OU PFCG ]C DLLJO []HL LHC[ PLLJ JH[
[NISG PUKGQ
]NTQO GJL]WD UU
OE[G FYLN LS Z[W
JOH DH]NG [DLF GD GQGDD COC HSUQ CO G]U FU [DOH RN[FN MOGO RLFUHQ RLOHES[]G
OQZ GFH CFT GF DUD TH] U PLLJ LOUD [CD RLFG CHG CS]G HSULQQH G[LUD ]C
GQGD OOND GLJF OQZ CO GLJ RLC GQGD DL]N G[LUD ]C JOH CSLQC M]UF CZOT DU
RLZLIS ][W OOND PG PE VHUH GLJ OU FJHLQ FHQLO HSL ]HWTH]G H[WO
L[DFO COGH DLLJO HSFQO H[HQ HZLIGH HEE C[D RJLSG HCQH HSLNT HSDC D[ ]UFO H OLUO H[QC GQQ PLZQ L@
RLFQ FNH RDCD DLLJO PLFQO FYLN RN PCH FS ROGO U ]DQ [H [H PLLJ LOUD [C OU FHQLOO HSC PLNL[Y TH]G
GQO ]JSQ DLZ KS[EG LHFJ U H[LZWGD Z[ PLONQ [HD G[H] G[KW CO COC [HD LHG D[O PE H[LDTG L " [H
>CKW
DH]NG OOND GSSLC GLJG [QHC L]LLG COC GLJ [HKWO ]UFG OU GOU CO L[ ]UFD H[W LH
DLLJO PHZQ GLG DH]ND HOONS CO HOLC GSLQCZWSH DH]NG KWD HOONS OQZ GFOH] CLG L[GH
KQ EJ LHOG]LDG [DTGDH ]YDHZQ GKL U PLD[G ]H[D PGLOU
HWHEN HCO POHUO MWGO H[QC CO GQOH GO L[LQE C]NOG ]H[H[Y ZIS LYJH LQF HWHEN POHUO
HSO UHFL L[GH RHQQ COH TSZ GI PHO] O H[FE GLG RN PC "ZIS LYJ HDLLJO L[LQE C]NOGH LQF
ZQKD [ CHG CSHQQ ]H[H[Y ZIS LYJ
CLG GNOGGQ ]HCQEHF CLDGH [LQJGO COH OZGO GCD GNOGG C[QEO KHW D]N D LTD C[GH
]HGEGD UH IL[ CJ FHL GQ ]H[EC ]HD U [LQJGO ]HD[ ]HNOG HSLYQ G[HCNO L[GH HL[DF [HCD OU OZGO GCD
P[GQ
CO D [H YQGT CW PL[QQ OG GSQG H[WO GQFZG PDQ[G D]N GQ OU PLSH[JCG HFQU [DN
PO ZIS POQ THNQHT ]UFO RCN COGH LSLTQ GQO GNOGD ]ZHOJQ CYQL]
GNOG CHG H[LWD [QC RLFG ]C [QCH ODZ PNJG [CN Z[ PL[HQC PDQ[G L[DF D]N LQ L
QQOG HI G[W C[QEG WUC P]TD [QC PC ODC HLOU HZOJL HL[DJ RN]L CO LSLTQ GQO
RHLYD LSLTQ GQO GNOG ]LFHQO] YSC UUH DYZ [LCL ]HJ ]H U MN OU HZOJL RN]L
GQN RLFG LK[WD HZOJS COC RLZILSG OOND ]H[H[YG CLG ]QNTHQ GNOGG PYU HD]N LH
GLFUODH DLLJO GCD GNOGG ILWOH P LHJ ]HD UUH WUDH] [QCQ PLCLDSG ][H]DH RCN ]HLJ X[GQ LWU POQ
GNOG [QHON OON GNOG THNQHT [LQE COF KL ROGO H[QC GJ ILWO [WO ML[Y PE PNTHQ [DFG RLCH [HKWO M]UF CZOT
[LQE GNOGG [ZLU ODC ZIS LYJF
[QC GQH G[H]G ]JN LSWQ GNOGD QED HSLYQ ]ZHOJQ GD[GH Q EJ ][ECD D]N LCRHIJGH
]ZHOJQ HSLYQ RNH CNW GFS OG H[WTD [CHDQ RNH GUHFL GNOGD HSLLG ]ZHOJQ GNOGD RLC Q[G
GNOG [HCDD UYH DO ]HJSQD H[QC HQN CHG QQOGQ ML[YQG ]UFOH KHK[ GNL[Y GIHIQ PCG
HU ]HJSQ CL ]HNQ JO RLHFZ ]UF VTHLD GI RLSUD UUH GOHTW GF CFO[]
GF CFO[] GNOG [HCD I JHC PL[U ]LD ]HJSQF HWT OC[L ][CW] ]HOOND GI RLSUD FHU
O[ QU OI QC [NIO PL[HU DU RLOHJ ]HLJ X[GQ GOHTW
PLFHQO]G LSD [HWQ RWHCD [NIHQ CO HWLJD ]UEQ GGN FL GQN FU GC[SG LWN RLLYO L@
COC FDOD HI COH ]H[H[Y OU LSLTQ GQO GNOG RHO PDQ[G L[WTD RNH PL[FQDH C]WTH]D
ZIS LYJ GSQ CO LSLTQ GQO H[QCS ]HNOGG ]QL[ ]C GSQG H[WO GQFZGD GSHQN PDQ[G
Z[ PL[HQC PDQ[G L[DF ON LOHC [WCH GO L[LQE C]NOG CHG C[QED [NIHG LHKLDG ]H[H[Y
GODZ COC QOOG G]HUQQ RLC PLQUW HI RHO RN OU []L LSLTQ GQO GNOG [HWQD [QCSN
RHO LDEO PDQ[G ]KLD PL[WQG HFFY DHLNH DD GKHT DHKPHL TH]D NHQN PGL]HD[Q
WNGHLD EGNF RLHFZ G[UH ]HOLDK QJ RLSUO CO CQHL DLYSG LHFJH P LHJ U L[LQE
GNOG HSLC PLQUW KL ROGO GNOG LHKLDG RNH ]H[H[Y ZIS LYJ LDE PDQ[G ]KL MN [WCH
>UYH IU ]HQDL TH]H HK ]H]L[N L[ U LSLTQ GQO
GLWHEH CSLOIC C[ZLUQ []D HGQ [DSH [JC PHZQO OEOE]SH H][D COH LON OU GT[F CD[ LUD
OHCO L OZQD H[DH [JC CDH EEG C[Q LON Z[I CSLOIC CSQ [D] []D CQOF HC CHG
ONQH HLOUDQ FHDC [DN LONG L[G [JC PUKQ [DHG ]C [HKWO L C[ZLUQ []D RSLOIC CO PC PE
" PL O HKHI D FN CULYQ CDDD H[QC HQN HSQQ H]HOUD GUZW COLQQH PFC
CHG [WC [DGO FQHUH Z[IS [DN RHLN NWUCH LONG ]C OLYGO R]LS GLG [DHFQ [QHO LH
P[HEN GI RLCH [HKW [DHG MN OU ZHQLS VLTHG PDQ[G RHO ZLHFQ GIDH [HD LONN RHFLS
J[EG LWU H]OYG ]ULSQ P[E H][LDD MN OU DLLJ HSLC [QHO CD
HS[DL GI HQYU GI RLSUO H]H[D RLLFU XWJG MND ]OUH]H GCSG HO L LSWQ CLL]Q HSLC GSH RCN D]N LQ L
RN [QCS PL O HKHID PE FHUH [DFG H]UF OU GOUQ HSLC CQ]TD COG DYH LDY [G U RLOLZ]H RLDK HO POL G]U
]HNI [NHQO RLC GC[S [LHCD CHGN [JCO HS[NQL PCH QQ [DS [JCO COC OUHWD DLLJ]S CO Z[HIGH OLCHG OL CQH
G[LDG ]UD LN Z[HIG [KWLL HSQQ CLL]L PC L[G HD RLSU HO L QQ HSQQ FHDC XWJG VC NC Z[HIG LWON GULD]
LU HC PLQQ [DFG U[C PL O HKHI O LQF COH Z[HIG ]C DLLJO LFN H]H[D XWJG ]ZIJGD XWJ CYQS [ZWG XWJG
RLSUO CHG HO RLLFU COC HSQQ [DFG G[H] G[LZWG CO HUDH]O OHNLH RN GU H[DJ ON ODC GULD] ]OHNL HO RLC TLLE
EG UH [ZWG LHG RNC HQYUQ EEGQ XWJG OHWL PC ILWOH RHQQG ]ULD]
FYG GQ RN PCH GI DYQD HGSZL LQ LN PLQF HO RLC [LHCD XWJG GUD L[G RHLU PHZQ L RLLFUH
[DHG HN ROGO G ]HQJOQD RDQ[G ]KL RNCH "M[U ON HO RLC LON [D L[GH [DHG ]C DLLJO
PEG HDLLJ [DN H]ZL[I GUQ PCG HCO PC DLLJ Z[HIG PC COC HSLC C[QED RHLFGH [HKW LCFH
OUHWD G[LDG [JC ]NOO L HC [JC LU [DS OUHWD
OUHWD G[LNQO LHC[ HSLC PC PE XWJ ZIG OU PLDLLJ PLSHC[G [CH L[ ]KL [QHO ML[YH
L[DFN COF GIH XWJG VHED ZISG PYU OU COC HLHH ]]JWG OU CD HDHLJ HSLC XWJ ZLIQG LN
ZLIG PEG PLQF HO RLC LSWQ [HKW [DHG RDQ[G ]KLD PLSHNS HL[DFH JQZ KWQG]HDL]SG
IHNZ ZD KS[EG LHFLJ LWU PLFLD H[DJ O [DF
[]D PC CG RSLOIC C[ZLUQ []DF PHQ Z[HIG ]C DLLJQ GD[ [QHO PHZQ L RDQ[G ]KLOH
LQ[EF CSLF RFG ]UFO ODC [HKW LQ[EG JY ROGO H]KLO CHG MOHG LN [HKW RSLOIC CSQ [D]
P KS[EG PDQ[G LZTW PLDHLQ GIDH H]ZL[ID XWJG O HLHH ]C ]LJWG ]JWG OU HDLLJO L
[QHO MLL COH DLLJ LSG KHW H[DH [JC PFZH LONG OU XJ HC RDC Z[I PC ]HWTH]D HD]N
LYJ ]H[H[Y ]JNQ CO L[G [D] C[LD] CSQ RCN PE [QCS PC HWLTHGH GI RHEND [D] C[LD] CSQ
Z[HIO RDC Z[HI RLD ZOJO CLG GKHW C[DTH [H[YG ]I]G PU FLQ [HDN XWJG RHFLS FLQ] LN ZIS
CD[G ]KL CLG MNH HQYU LON
]H[H[Y GIL]G GQGD OU RF C[G PGL[DFN CO ROGO C[G L[DFQ JLNHG CY RHJG ]HYZD
RSLOIC C[ZLUQ []D HS[QC PSQC D]NH P HZLIGH ZILSG ]H[O HI]LSH PLD[G ]H[D GOE[D
[JC GFD [UDH GID HSC PLC[HZ QQ ZILSG ]H[D ZIGN [DFG RHFLS ]HLH[ ZHOLJ RLSUO ODC
CHG GIG RHFLSG L[G C[ZLUQ []D O ]HHGOH RHFO C[ZLUQ PHZQ RLC TH]G L[DFO ]HYZ G D]NH
LONG OU RDC ]ZL[IO LONG ]ZL[I RLD ZOJO [DHT HSLC C[GQ JNHQH LON Z[I N COH XJ Z[I N
RN JLNHGH GLSG GUFN [ZLUO KZS ]HYZ G ]UFO FHELSD ]HWTH]GN P H]KL COC C[GQ JLNHGO O[GQ NNH
C[GQ ]HYZG ]JNHG [HCDD LDY [GD UUH PLSHC[ GQNQ
HQYUD LONG OU PLSF PC RLD HZOLJ L ]HSH PLN[FD HI GJNHG ]HJFO HD]N PLSH[JCG L[WTDH
RF ZISG P H Z Q OU RHFLSG RLDH >G]U H[D [JC PFC O DHLJ RLSUO@ HCO PC [HDN DJS PCG
INZ KS[EG LHFLJD GJF RNH FHF ]OJS XJ Z[I O LON Z[I ]HHGO PHZQ L RNC HI GOCD C[G
ONH XJ ]ZL[ID VC C[ZLUQ []D PLNOHG HI GOHUWQ [QE LFLO CD ZISGN ][JC M[FD GSH RHSETD
RH[NI HKL CJ [IULJC RHC[G [JC TJLL]Q ZISG RLC IC H[DH [JC CDN Z[ H[QCS ]HWTH]G L[DF
PLSH[JCG ZHOLJO ULLTQ GIH C[G PD TH]G L[DFN CLDG LHQS UH D QHJ R]SHGL
JGHYZD GJF ]H[H[Y GO ]JNQ CO C[ZLUQ []D PL[QHC XJ Z[ID PC TH]G ]LC[ ]CH
KS[EG LHFJD UH HJN LFL OU COC G[LDG G]US CO PHZQ ONQ [HDN LONG DJS VC
[LCQ [ LHFJD UH HJND XJ LU [D PC RLDH PLFLD H[DH [JC CD RLD ZOJO RLC ]HYZG D]N FHU
ZTSLHHFQ GJQ
RHFLS PCG P [DSH FLJLG ]H[O OEOE]SH PLD[G ]H[D LON OU GQGDG GT[FD RLFG GQ GOCG ]OCS GID CYHLN
OU FLJLG ]H[D H]ZLIGH [DF PLD[G ]H[Q GJZO LQN LOHC HC RSLOIC C[ZLUQ []D PC PLD[G ]H[D GZLIG LQN
[JG ]OLC LDY [G IKCL LC RHIJ PLUH[G COQ U HI GOCD PLSH PLFFY
GCL QHJ CJ RHLYO [HC ]H HCN DZUL ]HOGZ [ UUH
JL VF
GCYH]N [DS GLG H]WLJF COO PE LW OU VC HSULQGO CD [WC GLSLQ GLSLQ OLICZF
LHFJD UH HJND COH HWHED ZISG GUS OUHWD NWUC H]WLJFD ZIG VLTHG CO CYQS ODJG ]ZLTWQ
PLLJ ][H]DH GCOWGG
GQHZQD ]HQ] FY [QCF GFHGL LD[N GO [DTH POQ PO ZIS ]H[H[Y [QCF THNQHTN [DT
L GLO ]UQ LQ H]OLJ]Q FUHQD FUHQ GUSH P]D GFHGL LD[O GLO ]UQF [HQLC ]FQHU
H]OLJ]Q PO ZIS POQ THNQHTF CDLOC ]H[H[YD ]HQ] FY [QHO ]UFG OU GOU FYLN RLDGO
LN ZISG PHO]O L[QEO LC[JC [HG OUD RLC PGLSD R[ZOH ]H[H[YO L V]HQ RLSU [CDO L