! 
 "       #  
 
"$
"""$$"  "      
"   

 

     " 



 #$
"#$
#"  %
 &'  () *"   +  ,#  
 
  - 
" "  $  $$$% $ " #   # $  $       
  
   -  
 
"./    
   $ ./ 
"
%

0)
&' 1
 12 *(1+ 3  
    #'! - '3""

#  
 

	

4  
     

	   

- 
'! - 

$  $  

#    
   # $'!   
  3 

    
$  #'! -   5"" () 
"

(

5(&200(1'(' )25 )8//

3XUVXDQW WR 6L[WK &LUF

(/(&7521,& &,7$7,21  )

)LOH 1DPH D

		

46789:';89

<<<<<<<<<<<<

=$9,'

>(52<

'.$**6

	






?+,/

?$5.(5@





3
"&'


@ = 
B


	))))DE 9FB

3G#"$

=4G6

C
GF:7788:>'6

<<<<<<<<<<<<

	


  7 F=?&C>53=H6535I4!
=# 3 '" 3'''838 34!
 B! 
3F= 8"  F 7 ?&C>53=H6535I4!
=#3'",'3,::73>4!
B!
 	

 	








7,&I56>:E75E?	3

=#>'!  #$B!
 
"

 $$

 $'!   "#  $$ #        $#  '!     B! '"5    #  

" '! - #   



'@
2*B(0+8&' = 5
@ = 
B!'! - 

$   &'5J0	

24'0*@=B(+    
 
 $$      &'5 J 01  6     5 '!    "  " 

 "      G   '!  #

#    
    # 
   '3"" 4  
'! -  #

#  
       
  K  7:H:7': - 
'! - 

$  




6F
((9"FF  

!", B!8 #     '!   5"$  '#     
" 

   '! B!  = " '!  "  
      " '!  "FF -  

	
      $ $$
   
$ 

  3  $  

"
"   " 
       K       "!    
'! "
"3 =:

FC "F# 

 
$$   F C "F'! - #  "
 


" "L#   
     #  
 $#  C 

# #      ""     
 F '! -   
 $ 
   
    "  $$$F'! -  "     
"- #

4"
  
 "
 " #"  
    
 C  '! - "
 	

 	


$OWKRXJK QRW GLVSRVLWLYH RI RXU GHFLVLRQ ZH QRWH WKDW WKH ILUVW MXU\

WR VHQWHQFH 6NDJJV ZKLFK GLG QRW KHDU WKH WHVWLPRQ\ RI %UHVOHU IRUSXUSRVHV RI VHQWHQFLQJ H[SUHVVHG LWV KHVLWDWLRQ WR JLYH 6NDJJV WKH GHDWKSHQDOW\ DQG LQ WKH HQG FRXOG QRW DJUHH RQ DQ DSSURSULDWH VHQWHQFH

      
      #

!"8 $   

$!8    


 $# 8"#
'M'
$   "

 F'! - #

8 #   'M '   
  #    
       '# 
 #   "" 
""  ! #  #  $#  ""! $
 

*  "+  C     
"    $  !     # 
  "" 
'! - "$"
 L" 
  
" %B< 7(9 '7$7311J01)0*$+*2+

 "$#  $$$

#"#
 

 
"L 

&'
*8
"  

	
 

?'! 
"

5   8  '! - "6 ? ,    # '!5""
 8     = @ 
   '! -  #'!  #$=?7#
? 5*B5?5%+'!  L    
 
 '! C "$  #C -  # C #
'! -  
 

8 
"

(3C  
 #  %  $ 
   # 

 "
  
"   9# "$
 " $"85""
 = 7#   
 $   

$'! -  
       8    
   $ 
  C $  
" 8"#  

6E1(
" 

      $5"""
	

 	


$V LW H[LVWHG DW WKH WLPH WKH .HQWXFN\ VWDWXWH UHJDUGLQJ D MXU\¶V

FRQVLGHUDWLRQ RI PLWLJDWLQJ HYLGHQFH SURYLGHG

 ,Q DOO FDVHV RI RIIHQVHV IRU ZKLFK WKH GHDWK SHQDOW\ PD\ EHDXWKRUL]HG WKH MXGJH VKDOO FRQVLGHU RU KH VKDOO LQFOXGH LQ KLV

LQVWUXFWLRQV WR WKH MXU\ IRU LW WR FRQVLGHU DQ\ PLWLJDWLQJ

       
     "
      "85""    # 
  $ '! - "# 
	 #

  =
  '! - 
7 '!    
      $   "%  $ "   " $  
 # "=
    C   #   
"  C   
  '!  


" #      # "       
      
"     L"  
    6 $ 5""=7# 
 '! -  M% $   " #

3 
  

#"   
 9" F G  *(+ '!     ""  
 	 $$   " 9"F  !K*+'! - 
!9"F    
FF   8     #"  
FF G'!  ""
 	$$
 	$"FF  !4  "
 
'! - " $ '!     " 
  
" L" 
  
   "     
  8 

	
 

&XUUHQW .HQWXFN\ ODZ EDQV WKH H

SHUVRQV 6HH

.

< 5(9 67$7 $11  

EHFDPH HIIHFWLYH -XO\   DQG GRHV PXVW GHWHUPLQH SULRU WR WULDO ZKHWKHU D 

7R WKLV HQG WKH FRXUW PXVW HYDOXDWH D ZKHWKHU WKH GHIHQGDQW¶V ,4 LV  RU EHO

   VHH DOVR

7(11 &

EDUULQJ WKH LPSRVLWLRQ RI D GHDWK VHQWHQFH 7R EH VXUH LPSRVLQJ D GHDWK VHQWHQFH RQ EH PHQWDOO\ UHWDUGHG DQG ZKR KDV FRPPLWIRXQG WR EH D SHU VH YLRODWLRQ RI WKH (LJK

86 DW  QRQHWKHOHVV PHQWDO UHWDUGDPLWLJDWLQJ IDFWRU VHH

.

< 5(9 67 $11 

$11  % %DQNV%DOGZLQ 

PLWLJDWLQJ IDFWRU 3ZKHWKHU DW WKH WLPH RIIHQGHU EHFDXVH RI D PHQWDO GLVHDVH FDSDFLW\ WR DSSUHFLDWH WKH FULPLQDOLW\ RFRQIRUP WKH RIIHQGHU¶V FRQGXFW WR WKH UH

JJ 01(1) 01()  = :

  "
'! #G

F '!  

  
" "     
 # 
  
"    
" 
#'! -           3" #  

    $ "8"# 
#  " $   # $$#  ' #  
  
    

  
	 " #
 
) 	

 	


""#'!  
'! - "D#
 D  $"    

=:"-  G.@/    "  
   K " $ 

$" $ 
"   * M

# $ "   +FC - 
  " $$"  #


= :" 
   C -  $# " 
"         #       " $    
 F '! -  #"    #
 # 
 "   
" "
%  '! #
" $  "   
        
 
"L# 
"# 

= :"  = I $   '!   

""$ '!  
O  $B! 
$
B< 7(9 '7$7311

	
 

FLUFXPVWDQFHV RWKHUZLVH DXWKRUL]HIROORZLQJ VWDWXWRU\ PLWLJDWLQJ FL

E 0LWLJDWLQJ &LUFXPVWDQFHV

 $W WKH WLPH RI WKH FDSLWDO GHIHQGDQW WR DSSUHFLDWH WKH >RU WR FRQIRUP WKH FRQGXFW@ ZDV LPSDLUHG DV D UHVXOW RI PRU LQWR[LFDWLRQ HYHQ WKRXFDSDFLW\ RI WKH GHIHQGDQW WR RI KLV FRQGXFW RU WR FRQUHTXLUHPHQWV RI ODZ LV LQGHIHQVH WR WKH FULPH

.

< 5(9 67$7 $11   %DQNV

""  '!  $ 
 


'! 
 #" 


 ##

  "   $    C "  
  "     #D
  	 
 
 :  " 
   # 
  
  
$I
   
#	  = : :"  "'! - '!  $C -  "    "  F

8!C

$ # '! -  "  B!5
3 

 	

 	



"$ 

"" 
8B!'"5 #     " 

" '! -  #    8 &' '"5

6E((
'! 

$ 

 &'5J0 "  " 
8 #"'! - "


#  
 6E( '! - 
$ 
"
!
 
  
 

$$ 

6  '!     	 #  "  




#  
 $   
 3 '! -   
   
  

$ '! #

#  
  
 
 $ $  

		

	
 !" #

'! 
 


$  

E(
"
3 ":

#=?3
(
*3:=?3%+$" 

#  3  (
  3 	3:=?3# '! - "$ 

"
#$0(&'1)12*(2+ 

$*563%+L"  
&'5J01*+!
"
3:=?3'! - 
 - 
 $  
3:=?3- 

#"%
()'5(00(
)*)))+*$  ! 
 " 
 
3:=?3- 

# #$563L" 


	
 

:H QRWH KRZHYHU -XGJH 0XUQD

$QJHORQH  )G   Q WK &L

WKH PDMRULW\¶V RSLQLRQ QRWLQJ WKDW $NH FOZDUP ERG\ ZLWK D SUHIL[ DWWDFKHG WR KLV Q

# #      
"   " 
$
"

 2) &'  )	( *M          
  
 
 #

  

(1 41 (1 (2 *
5 ))
#(4()((()*


8   $
      

$         
   
# D $ "    $ $  
"       
  
)
5(+*  # -  #
 +*
*5(+*./  %+   '!  $   -  
   F 
  -  

( 	

 	


8 '"5   # 

    "    "  !  "   
  "G

.@/  '   "  
-  "# "$ "  " 

     
   "$
- $"  
     
 
 "#   KM
"
" $    $  
-  "  $  

  
    $#K   

   $  
-  "  " # 

  $#   "  L   8 ! $# L     ! 
    -      &!  " $ "" $#"$#
- "      
   #  
#% "" 
 $ # #4"$#     "    




#
" "
   !    8     
#  "      # " "!  $" $  "  
 
"


 CM
- " "  $#
"
   

	
 J01*+ 
 $
3:=?3

@# - 


$  
"(1)(1()*
5(
+3L  

 $ #
" 
$  
  
" 
     5       
,"
0)&'


" "$   &'5J0*+*(+K- ()	(1*(0+8  "    $  " L  

"+
41(1()

 ""$ %

9       

  ./5$ 
&'5J01*(+%3  "    563 L3:=?3# 
J01$ 


#
3

5(
)?  	3:=      $   %4J 
 L%         
    $  $ 

@      L 

 #
 
$'!  $ 
 	

 	


 
   $'!    G   '!       '3"" 

#  
 @   L"  
   	3:=?3 J 01*+ # $ " $ '! -  ' 3"" "  "!   $  

 %&'5J01*+K"#%
$(2411)
	)2*
5 )))+ *         

$$  
563# "                
       
  J 01*++3 '! -  " 
 

#    
  $
 

  $"! ))")$ *) &

8 
"  $   ' 3""



#  
 " #  


*

&'

*(+G

4   
 "     - 
" 
8 L    "           
  %
$'3""'
"  

"
 8  L     -        #


   $

.
2 #"


# "  $ 
"   - 
"
$$# 
 $  #"

/


&
(
(4112))*
5(+*

  *

  &' 

 
 *(++3  #    -  
  
 
 L 

"" 


  

	
 

8:3""L "   
  " $!85     $ # $!     #  "" 

#  

*  "+  4"#  
 "

'

7 311 J01)0"

  # 
  	

#&'1(2 *.8/3""  L   
"      "
- 
  

    
  -%*L

0

)*(2+++

5 



  - 
   
            " 
 G   $K*+'! "
 L" 
 "
8"#"  $
 
 C D 
 # $     "
"     "#  " # #   
G'!  " "
(
 	

 	


5(
+ *8L  
 #     Q  #!"$

 %+3 '"5

@
  L    $$$$   D        #D #    $ 
#  " "     %  

  &'  

  8 5 " M      # $ 
# #$

$"  $$$ #$

* -#
()'5(0(0(*)))+



&'(01*(2
+ 

    '" 5    "
 	$	 "   @ #  M  P.
/ "
   L $!"  


   


-%.(*L	

#
0

1)&'0(00*(12++'
5 

" " " $"$ "
  

 	

#  #
  &' 1) 1(2 *(+ *.8/:3""" #M  "
 
%+K1

&'
2*(1+*L
 
  $
" "!#M"$  

#"  
"%+

@ #      
 "  $



     
 # "#
(
 41 K

2(41 ()
	)
G

	
 

 86   ,Q DGGLWLRQ 

DVVLVWDQFH RI FRXQVHO 6NDJJV DUJXHV WKDW ZDV GHQLHG DFFHVV WR D FRPSHWHQW SV\FKLDWKDW VXFK D GHQLDO YLRODWHG KLV GXH SURFH&RXUW KHOG 3WKDW ZKHQ D GHIHQGDQW GHPRQVDQLW\ DW WKH WLPH RI WKH RIIHQVH LV WR EH D 6WDWH PXVW DW D PLQLPXP DVVXUH WKH GHSV\FKLDWULVW ZKR ZLOO FRQGXFW DQ DSSURS

HYDOXDWLRQ SUHSDUDWLRQ DQG SUHVHQWDWLRQ 

8SRQ FDUHIXO H[DPLQDWLRQ RI WKH U

LQIRUPDWLRQ DGGXFHG DW RUDO DUJXPHQW ZH &RPPRQZHDOWK GHQLHG 6NDJJV DFFHVV HYDOXDWLRQ 7KH WULDO FRXUW JUDQWHG 6NDJDQ LQGHSHQGHQW SV\FKLDWULVW WR HYDOXDWH 6NKLV RU KHU VHUYLFHV ,W ZDV GHIHQVH FRXQVHWKH IDFW WKDW GHIHQVH FRXQVHO PD\ KDYH FKFRQFHUQ XQGHU $NH LV ZLWK WKH DFWLRQV RI W6NDJJV KDG 3DFFHVV WR D FRPSHWHQW SV\GHIHQVH :H ILQG WKDW KH GLG 7KH IDFW HQJDJH D FRPSHWHQW SV\FKLDWULVW WR WHVWLI\ LV VLJQLILFDQW WR 6NDJJV¶V LQHIIHFWLYH DVVL

"L  


# #5(+*



@$#'! "

  - 
"K#
  
D#  "
         % "  

#"
 


+*"&,

C
'! -  

     "  '!  
 
() 	

 	


8    '! $$ 
  #8B5?5  # '!  $ '! -     L 
 
&#$ 
  # 
C =     
 '! -   C  
  
          
   9 
 "#C- F - = 
"'='&# &# 
5
$ "   B!

'!         = C  E

B

# 
 $
# C -  $!  C      
     3  - #'! - 

#  
 "C 
 	 B#$'! $"$   

" 
       
"  "  #
 '!  =C  !#  C - $!L
 $
M"  K  3$ %C 
#  C (2 $
'! - C 
9
C   
 !" !9 -"  -
$ $ !%C   !
"B! =" 
 ?$ 3#*B=?3%+D3   ?$ 3# C 7 ,5 H3D""C 4C" C 
(2$!   : B! 
  "	 
%B  
## C - L
 B 

	
 

5""G 3  $#

 @ R

= !C 

 
""!  #   "    " $ #
  
'  C    $
C -  $ " "
  
 $#$" 
"    $ $   
 
 
    
  " #   " #    8   C -  "#      
# 
   C 
"  " "
     "$
 
$$# 

&'
2

' -*

8 $ 

" '!  "   $$$
 -   
     $$$ $$
"%


0)
&'P-"

L  - 
   
   
"
%+K *
(	

 	


 ""  
        3      $  -! $#" '      ! 
 ""  : . / C   " $!!$$C         .C /


&C -  	"  L " "
"  
  "G

5""G 8   "  !   

     "$ 

"        S   !: 

C G  #   :   

 

5""G I ""$    "

$R

C G     "    

  " 4 
#        """!#" 

5""G I $#  -  

"=: R

C G !:  $#

" "    " 

	
 #$
" C     C B  
   !  C " 
"#  C

&

$# 

    
   "   -  
 $
  

&'
@  

.'/ "

 # $K   "#  $
 " #  "! $ $ "!  

.
)	(

CBC 

" "" ""  
" 
"""
  ! "
  "  # "     C    #  
	$# C #
  

$$# 

=
  -  
"
( 	

 	


 
 '! -  
  $   
  "     ./     
 P -
$'3""%.
2

. &(,) 

*) 

'!    $ #



#  
  $  - 
 "# - 
  #
'! - "   3  
   $
 # C  
 -   C             

L 

3
 # $ # C -  $M  

 "    #    
  

 
 
 R?

    #    $   "
"#R@!@
'! -  $$# 
  $      # ""#'! - $
  
 #" 
 "
 

4    " #  

  

#  
 


2(
411*
5(2+*
  -  
  #      "# $    $#    $ 
 $
   

#    
    #     #$     
 
-  $
    
    "#"#    $+K 

  - 2( 41 ()

	
 ()
	) *
 5 (0+ *

#  "      #  "   

M
#    #$   $ (
41'$ 

3#C

C -  "  C  G

3G .9/ 
9 

$ -" "I-'E.B/!$@   ""'

C L $"     C G

OG C" 

 

         R

3G E!$

. / C    $&" ""=#.'! /#$  !  E