)($785(6
7KH:HDWKHUVWDWLRQ
)ROGRXW
6WDQG
%DWWHU\
FRPSDUWPHQW
FRYHU
)XQFWLRQ
.H\V
/&'
'LVSOD\
+DQJLQJKROH
/2:7(03
$/(57
x
+RXUDQGPLQXWHGLVSOD\
x
'D\OLJKW6DYLQJ7LPH212))
x
&DOHQGDUGLVSOD\
x
7LPH]RQHRSWLRQWRKRXUV
x
:LUHOHVVWUDQVPLV]
x
2XWGRRUVLJQDOUHFHSWLRQLQWHUYDOVDWVHFRQG
'LVSOD\RQHRIWKHHDV\WRUHDG7HPSHUDWXUHFRQGLWLRQLFRQVIHDWXUHGE\:HDWKHU
*LUO³%HOOD´
x
7HPSHUDWXUHGLVSOD\LQGHJUHHV)DKUHQKHLW)RU&HOVLXV&VHOHFWDEOH
x
,QGRRUDQG2XWGRRUWHPSHUDWXUHGLVSOD\ZLWK0,10$;UHFRUGLQJ
x
$OO0,10$;UHFRUGLQJVFDQEHUHVHW
x
/RZEDWWHU\LQGLFDWRU
x
7DEOHVWDQGLQJ:DOOPRXQWLQJ
7KH2XWGRRU7HPSHUDWXUH7UDQVPLWWHU
x
5HPRWHWUDQVPLVVLRQRIRXWGRRUWHPSHUDWXUHWR:HDWKHU
6WDWLRQE\0+]
x
6KRZHUSURRIFDVLQJ
x
:DOOPRXQWLQJFDVH
x
0RXQWLQJDWDVKHOWHUHGSODFH$YRLGGLUHFWUDLQDQG
VXQVKLQH
6(77,1*83
)LUVWLQVHUWWKHEDWWHULHVLQWRWKH7HPSHUDWXUHWUDQVPLWWHUVHH³
,QVWDOODQGUHSODFH
EDWWHULHVLQWKH7HPSHUDWXUHWUDQVPLWWHU
³
,PPHGLDWHO\DIWHUDQGZLWKLQPLQXWHVLQVHUWWKHEDWWHULHVLQWR:HDWKHUVWDWLRQVHH
³,
QVWDOODQGUHSODFHEDWWHULHVLQWKH:HDWKHUVWDWLRQ
´2QFHWKHEDWWHULHVDUHLQ
SODFHDOOVHJPHQWVRIWKH/&'ZLOOOLJKWXSEULHIO\)ROORZLQJWKHWLPHDVDQG
WKH:HDWKHUJLUOLFRQZLOOEHGLVSOD\HG,IWKHVHDUHQRWGLVSOD\HGDIWHUVHFRQGV
UHPRYHWKHEDWWHULHVDQGZDLWIRUDWOHDVWVHFRQGVEHIRUHUHLQVHUWLQJWKHP
$IWHULQVHUWLQJWKHEDWWHULHVLQWRWKHWUDQVPLWWHUWKH:HDWKHUVWDWLRQZLOOVWDUWUHFHLYLQJ
GDWDIURPWKHWUDQVPLWWHU7KHRXWGRRUWHPSHUDWXUHDQGWKHVLJQDOUHFHSWLRQLFRQ
VKRXOGWKHQEHGLVSOD\HGRQWKH:HDWKHUVWDWLRQ,IWKLVGRHVQRWKDSSHQDIWHU
PLQXWHVWKHEDWWHULHVZLOOQHHGWREHUHPRYHGIURPERWKXQLWVDQGUHVHWIURPVWHS
,QRUGHUWRHQVXUHVXII]WUDQVPLVVLRQKRZHYHUWKLVVKRXOGXQGHUJRRG
FRQGLWLRQVEHDGLVWDQFHQRPRUHWKDQPHWHUVEHWZHHQWKHILQDOSRVLWLRQRIWKH
:HDWKHU6WDWLRQDQGWKHWUDQVPLWWHUVHHQRWHVRQ³
0RXQWLQJ
´DQG³
0+]
5HFHSWLRQ
´
1RWH
x
7KHZHDWKHUVWDWLRQZLOOUHFHLYHRQHRXWGRRUWUDQVPLWWHURQO\
x
,IWKHVLJQDOUHFHSWLRQLVQRWVXFFHVVIXORQWKHILUVWIUHTXHQF\0+]IRUVHFRQGV
WKHIUHTXHQF\LVFKD]DQGWKHOHDUQLQJLVWULHGDQRWKHUVHFRQGV,IVWLOO
QRWVXFFHVVIXOWKHUHFHSWLRQLVWULHGIRUVHF]7KLVZLOODOVREHGRQH
IRUUHV\QFKURQL]DWLRQ
x
3UHVVWKH6(7NH\WRPDQXDOO\HQWHUDWLPHLQLWLDOO\
%$77(5<,167$//$7,21
,167$//$1'5(3/$&(%$77(5,(6,17+(:($7+(567$7,21
7KH:HDWKHUVWDWLRQXVHV[$$$,(&/59EDWWHULHV7RLQVWDOODQGUHSODFHWKH
EDWWHULHVSOHDVHIROORZWKHVWHSVEHORZ
