3DJH
3ODFH\RXUWKXPERQWKHIURQWSDQHOUHOHDVHEXWWRQZLWK\RXUIRUH¿Q
JHUEHORZWKHIURQWRYHUKDQJ3UHVV¿UPO\RQWKHUHOHDVHEXWWRQWKHQÀLS
WKHSDQHORSHQE\SXOOLQJRXWZDUGDWWKHWRSHGJH7RFORVHWKHSDQHOÀLS
WKHSDQHOXSDQGSUHVV¿UPO\XQWLO\RXKHDUDQDXGLEOHFOLFN.HHSWKH
IURQW SDQHO FORVHG DW DOO WLPHV WR SUHYHQW ZDWHU LQWUXVLRQ H[FHSW ZKHQ
FKDQJLQJGLVFV
&$87,21QHYHULQVHUWZHWGLVFVLQWRWKHXQLWRUWKH
&'SOD\HUZLOOEHGDPDJHG
(5DGLR2SHUDWLRQ
3UHVV WKH VRXUFH EXWWRQ WR VHOHFW WKH UDGLR PRGH 7KH VWDWLRQ IUH
TXHQF\LVLQGLFDWHGRQWKHGLVSOD\
7R6HOHFW%DQGSUHVVWKHEDQGEXWWRQWRWRJJOHWKURXJKWKH
UDGLRPRGHVDVIROORZV)0)0)0$0$0)0(DFK
UDGLREDQGVWRUHVXSWRLQGHSHQGHQWSUHVHWVIRUDWRWDORI)0
DQG$0SUHVHWV
7R3URJUDP3UHVHWVWXQHLQWRWKHGHVLUHGUDGLRVWDWLRQWKHQSUHVV
DQGKROGWKHGHVLUHGSUHVHWEXWWRQIRUDWOHDVWVHFRQGV³3;´
ZKHUH; WKHSUHVHWQXPEHUDSSHDUVDWWKHERWWRPULJKWRIWKH
GLVSOD\
1RWH:KHQSRZHUWRWKHVSDLVVKXWRIIIRUDQ\UHDVRQDOO
VWDWLRQSUHVHWVDUHUHVHW
)$XWRPDWLFDOO\6HWWLQJ6WDWLRQ3UHVHWV
7R DXWRPDWLFDOO\ VHW VWDWLRQ SUHVHWV WR WKHLU QH[W KLJKHU VWDWLRQV SUHVV
WKHRUHVHWEXWWRQWRIURPZKLFKWRVWDUWSURJUDPPLQJWKHQSUHVV
DQGKROGWKHDXWREXWWRQIRUDWOHDVWVHFRQGV7KHFXUUHQWSUHVHW
DQGWKHDGGLWLRQDOSUHVHWPHPRULHVXSWR3ZLOOEHUHSURJUDPPHGZLWK
WKHLUQH[WKLJKHUVWDWLRQV:KHQWKHDXWRSUHVHWF\FOHLVFRPSOHWHWKH
XQLWZLOOUHPDLQLESUHVHWVFDQPRGHDQGFRQWLQXHVFDQQLQJIRUSUHVHWV
XQWLOWKHDXWREXWWRQLVSUHVVHG7RVHOHFWRQO\WKHVWURQJHVWVWDWLRQV
SUHVVWKHORFDOEXWWRQ$OO)0DQG$0SUHVHWVFDQEHVHWVH
TXHQWLDOO\E\VHOHFWLQJWKHQH[WEDQGDQGFRQWLQXLQJWKHRSHUDWLRQGXULQJ
DXWRSURJUDPPLQJ
*6HHN0DQXDO7XQH
3UHVVWKHWXQHVHHNXSEXWWRQRQFHWRDXWRPDWLFDOO\WXQHWRWKHQH[W
KLJKHUVWDWLRQ3UHVVWKHWXQHVHHNGRZQEXWWRQRQFHWRDXWRPDWL
FDOO\WXQHWRWKHQH[WORZHUVWDWLRQ7RPDQXDOO\WXQHWRDVSHFL¿FVWDWLRQ
IUHTXHQF\SUHVVDQGKROGHLWKHUWXQHVHHNEXWWRQIRUDWOHDVWVHFRQGV
+ROGLQJ HLWKHU EXWWRQ GRZQ ZLOO LQFUHDVH RU GHFUHDVH WKH GLVSOD\HG
IUHTXHQF\ PDQXDOO\ :KHQ WKH GHVLUHG IUHTXHQF\ LV UHDFKHG UHOHDVH
WKH EXWWRQ7KH XQLW UHPDLQV LQ PDQXDO WXQH PRGH IRU VHFRQGV DIWHU