2FFXS\3URKLELWLRQ

DGD\DJR(GLWHG

,QIRUPHG&RQVHQW7KH5LJKWWR&KRRVHRU5()86( 6LOHQFLQJWKHGHEDWH
,QIRUPHG&RQVHQW7KH5LJKWWR&KRRVHRU5()86( 6LOHQFLQJWKHGHEDWH
(QWLWOHG6KLOOV+HDU7KLV:HOO
)LUVW'R1R+DUP
,QIRUPHG&RQVHQW+XPDQ5LJKWV%RGLO\,QWHJULW\

1R0HDQV1R
'RFWRUVKDYHDGXW\WRILUVWGRQRKDUPDVZHOODVWRUHVSHFWWKHULJKWV SHUVRQDOERXQGDULHV
GLFWDWHGE\LQIRUPHGFRQVHQW,IWKDWLVYLRODWHGWKHQLWLVEDWWHU\
6XEMHFWLQJSHRSOHWRULVN\SURFHGXUHVDVSUHYHQWDWLYHPHDVXUHVYLRODWHVWKHRDWKWRILUVWGR
QRKDUP LIGRQHVRZLWKRXWWKHLULQIRUPHGFRQVHQWLW
VFULPLQDO
$Q\VRUWRIDWWHPSWVDWMXVWLI\LQJWKDWLVDUDSHDSRORJLVWPHQWDOLW\WKDWLVLQFUHDVLQJO\EHLQJ
SXVKHGYLDPHGLFDOUDSHFXOWXUH
7KHULJKWWRPDNHGHFLVLRQVIRURXURZQERGLHVLVSDUDPRXQW,IZHDOORZRWKHUVWRKDYH
DXWKRULW\RYHUWKDWZKHUHGRZHGUDZWKHOLQH"7KRVHSURWHFWLRQVZHUHKDUGZRQ ZHIRXJKW
IRUWKHPIRUDUHDVRQ
'HKXPDQL]LQJ3UHJQDQW:RPHQ$UUHVWVRIDQG)RUFHG,QWHUYHQWLRQVRQ
3UHJQDQW:RPHQ
KWWSVJRRJOKZM36$
KWWSMKSSOGXNHMRXUQDOVRUJFRQWHQWIXOOSGI
%DVHGRQWKHEHOLHIWKDWKHKDGDQREOLJDWLRQWRJLYHDIHWXVDFKDQFHIRUOLIHDMXGJHLQ
:DVKLQJWRQ'&RUGHUHGDFULWLFDOO\LOO\HDUROGZRPDQZKRZDVZHHNVSUHJQDQWWR
XQGHUJRDFHVDUHDQVHFWLRQZKLFKKHXQGHUVWRRGPLJKWNLOOKHU1HLWKHUWKHZRPDQQRUKHU
EDE\VXUYLYHG
KWWSZZZQ\WLPHVFRPRSLQLRQSUHJQDQWDQGQRFLYLOULJK
)RUFHGVWHULOL]DWLRQ
KWWSEORJORQJUHDGVFRPIRUWKHSXEOLFJRRG
KWWSZZZRXUERGLHVRXUVHOYHVRUJKHDOWKLQIRIRUFHGVWHULOL]DWLRQ
KWWSZZZLQVLGHUH[FOXVLYHFRPZKHQGRFWRUVJRZURQJIRUFHGVWHULOL
KWWSPLFFRPDUWLFOHVVKRFNLQJIDFWVDERXWVWHULOL]DWLRQL
)RUFHG/RERWRPLHV/RERWRP\:KHQ7UHDWPHQW+HOSVWKH'RFWRU1RWWKH3DWLHQW
KWWSVZZZSV\FKRORJ\WRGD\FRPEORJFRQWHPSRUDU\SV\FKRDQDO\VLVLQ
KWWSSURMHFWVZVMFRPORERWRP\ILOHV"FK RQH
)RUFHG'UXJJLQJDQG(OHFWURVKRFN
KWWSZZZPDGLQDPHULFDFRPWKHLOOHJDOLW\RIIRUFHGGUXJJLQ
,QGHILQLWH'HWHQWLRQ )RUFHG0HGLFDWLRQIRU6OHHS'LVRUGHU
KWWSZZZSROLFHVWDWHXVDFRPEUHWERKQ
)RUFLQJFLUFXPFLVLRQRQD\HDUROG)ORULGDER\
KWWSFKQJH*]V&"UHFUXLWHU 

)RUFHG&KHPRWKHUDS\
KWWSZZZRKLRFRQVWLWXWLRQRUJVWDWHVIRUFHGFKHPRWKHUDS
KWWSZZZWKHKHDOWK\KRPHHFRQRPLVWFRPDPLVKJLUODQGSDUHQWVIOHHX
0HGLFDO.LGQDSSLQJ
KWWSPHGLFDONLGQDSFRPPHGLFDONLGQDSSLQJDWKUHDWWRH
6LOHQFLQJ7KH'HEDWH
KWWSJRRJOWI/4
)UHHGRPERGLO\LQWHJULW\ LQIRUPHGFRQVHQW
7KHUHLVQRGHEDWH
7KHUH
VWKHVLGHWKDWKDVDOZD\VOLHGXQGHUPLQHGLQIRUPHGFRQVHQW SXVKHGGDQJHURXV
OXFUDWLYHUDFNHWV
SRLVRQLQJEXWFKHULQJ PLVOHDGLQJWKHSRSXODFHIRUJHQHUDWLRQV
7KHQWKHUH
VWKHVLGHWKDWDUJXHVQRRQHKDVWKHULJKWWRYLRODWHWKHLUERGLO\LQWHJULW\RU
LQIRUPHGFRQVHQWWRIRUFHDQ\WUHDWPHQWVSRLVRQVPRGLILFDWLRQVRUSURFHGXUHVZLWKRXW
WKHLUH[SUHVVFRQVHQW
<RXGRNQRZYLRODWLQJLQIRUPHGFRQVHQWLVNLQGRI5DSH\ULJKW"
9DFFLQHV0HGLFDO5DSHRU3HUVRQDO&KRLFH"
KWWSV\RXWXEH,.HHB3X\Y<
&RHUFHG9DFFLQDWLRQDQGWKH0HGLFDO5DSLVW
KWWSYD[WUXWKRUJFRHUFHGYDFFLQDWLRQDQGWKHPHGLFDOUDSLVW
)HHOLQJYLRODWHGDERXWYDFFLQHV"
KWWSYD[WUXWKRUJFRHUFHG
Y DFFLQDWLRQ
DQG
WKH
PHGLFDO
UDSLVW

9DFFLQHV
$UH7KH\6DIH"$UH<RX0DNLQJ$Q,QIRUPHG'HFLVLRQ5HJDUGLQJ<RXU
&KLOG
V+HDOWK"
KWWSJRRJO.:LU
&LUFXPFLVLRQ$UH<RX)XOO\,QIRUPHG"
KWWSJRRJO<3RK
9DFFLQDWLRQV3DUHQWV,QIRUPHG&KRLFH
KWWSZZZZHVWRQDSULFHRUJKHDOWK
WRSLFVYDFFLQDWLRQV
SDUHQWV
LQIRUPHG
F KRLFH


8QLYHUVDO'HFODUDWLRQRQ%LRHWKLFVDQG+XPDQ5LJKWV
KWWSSRUWDOXQHVFRRUJHQHYSKS85/B,'  85/B'2 '2B723,& 
/HJDO5LJKWWR5HIXVH0HGLFDO7UHDWPHQW
KWWSZZZUEVFRPUUPWSGI
7KHULJKWVWRUHIXVHPHGLFDOSURFHGXUHVWKDWFRXOGKDUPRUNLOOSHRSOHKDYHEHHQKDUGZRQ
SDLGIRUZLWKEORRGVZHDW WHDUV:HGLGQ
WDOZD\VKDYHWKHPWKHUHKDYHDOZD\VEHHQWKRVH
ORRNLQJWRXQGHUPLQHWKHPDOZD\VXQGHUWKHIDOVHSUHWHQVHRISURWHFWLQJXV ZKHQZH
DUHQ
WYLJLODQWZHUDSLGO\ORVHJURXQG
7KLVLVDQROGLVVXHWKDWNHHSVFRPLQJEDFNWRWKUHDWHQRXUIDPLOLHV RXUULJKWV:H
YHEHHQ
OLHGWRIRUJHQHUDWLRQV RXUFKLOGUHQDUHSD\LQJWKHSULFH
1RRQHKDVWKHULJKWWRPXWLODWHDQRWKHU
VERG\RUGHPDQGVRPHRQHHOVHOLIHEHSXWDWULVNZLWK
LQMHFWLRQVWKDWFRXOGEHOHWKDOUHJDUGOHVVRIZKRFODLPVLWVHUYHVWKHFRPPRQLQWHUHVW
,QIRUPHG&RQVHQW$Q(WKLFDO2EOLJDWLRQRU/HJDO&RPSXOVLRQ"KWWSJRRJOGDUDU
8QLYHUVDO'HFODUDWLRQRQ%LRHWKLFVDQG+XPDQ5LJKWV
KWWSSRUWDOXQHVFRRUJHQHYSKS
85/B,'  85/B'2
'2B723,& 85/B6(&7,21 KWPO
6WDQIRUG(QF\FORSHGLDRI3KLORVRSK\%LRHWKLFV,QIRUPHG&RQVHQW
KWWSSODWRVWDQIRUGHGXHQWULHVLQIRUPHG
F RQVHQW
7KH1XUHPEHUJ&RGH
KWWSZZZFLUSRUJOLEUDU\HWKLFVQXUHPEHUJ

7KH1XUHPEHUJ&RGH
7KHYROXQWDU\FRQVHQWRIWKHKXPDQVXEMHFWLVDEVROXWHO\HVVHQWLDO
7KLVPHDQVWKDWWKHSHUVRQLQYROYHGVKRXOGKDYHOHJDOFDSDFLW\WRJLYHFRQVHQWVKRXOGEHVR
VLWXDWHGDVWREHDEOHWRH[HUFLVHIUHHSRZHURIFKRLFHZLWKRXWWKHLQWHUYHQWLRQRIDQ\HOHPHQW
RIIRUFHIUDXGGHFHLWGXUHVVRYHU
UHDFKLQJRURWKHUXOWHULRUIRUPRIFRQVWUDLQWRUFRHUFLRQ
DQGVKRXOGKDYHVXIILFLHQWNQRZOHGJHDQGFRPSUHKHQVLRQRIWKHHOHPHQWVRIWKHVXEMHFW
PDWWHULQYROYHGDVWRHQDEOHKLPWRPDNHDQXQGHUVWDQGLQJDQG
HQOLJKWHQHGGHFLVLRQ
7KLVODWWHUHOHPHQWUHTXLUHVWKDWEHIRUHWKHDFFHSWDQFHRIDQ
DIILUPDWLYHGHFLVLRQE\WKHH[SHULPHQWDOVXEMHFWWKHUHVKRXOGEHPDGHNQRZQWRKLPWKH
QDWXUHGXUDWLRQDQGSXUSRVHRIWKHH[SHULPHQWWKHPHWKRGDQGPHDQVE\ZKLFKLWLVWREH

FRQGXFWHGDOOLQFRQYHQLHQFHVDQGKD]DUGVUHDVRQDEO\WREHH[SHFWHGDQGWKHHIIHFWVXSRQ
KLVKHDOWKRUSHUVRQZKLFKPD\SRVVLEO\FRPHIURPKLVSDUWLFLSDWLRQLQWKH
H[SHULPHQW
7KHGXW\DQGUHVSRQVLELOLW\IRUDVFHUWDLQLQJWKHTXDOLW\RIWKHFRQVHQWUHVWVXSRQHDFK
LQGLYLGXDOZKRLQLWLDWHVGLUHFWVRUHQJDJHVLQWKHH[SHULPHQW,WLVDSHUVRQDOGXW\DQG
UHVSRQVLELOLW\ZKLFKPD\QRWEHGHOHJDWHGWRDQRWKHUZLWKLPSXQLW\
7KHH[SHULPHQWVKRXOGEHVXFKDVWR\LHOGIUXLWIXOUHVXOWVIRUWKHJRRGRIVRFLHW\XQSURFXUDEOH
E\RWKHUPHWKRGVRUPHDQVRIVWXG\DQGQRWUDQGRPDQGXQQHFHVVDU\LQQDWXUH
7KHH[SHULPHQWVKRXOGEHVRGHVLJQHGDQGEDVHGRQWKHUHVXOWVRIDQLPDO
H[SHULPHQWDWLRQDQGDNQRZOHGJHRIWKHQDWXUDOKLVWRU\RIWKHGLVHDVHRURWKHUSUREOHPXQGHU
VWXG\WKDWWKHDQWLFLSDWHGUHVXOWVZLOOMXVWLI\WKHSHUIRUPDQFHRIWKHH[SHULPHQW
7KHH[SHULPHQWVKRXOGEHVRFRQGXFWHGDVWRDYRLGDOOXQQHFHVVDU\SK\VLFDODQGPHQWDO
VXIIHULQJDQGLQMXU\
1RH[SHULPHQWVKRXOGEHFRQGXFWHGZKHUHWKHUHLVDQDSULRULUHDVRQWREHOLHYHWKDWGHDWKRU
GLVDEOLQJLQMXU\ZLOORFFXUH[FHSWSHUKDSVLQWKRVHH[SHULPHQWVZKHUHWKHH[SHULPHQWDO
SK\VLFLDQVDOVRVHUYHDVVXEMHFWV
7KHGHJUHHRIULVNWREHWDNHQVKRXOGQHYHUH[FHHGWKDWGHWHUPLQHGE\WKHKXPDQLWDULDQ
LPSRUWDQFHRIWKHSUREOHPWREHVROYHGE\WKHH[SHULPHQW
3URSHUSUHSDUDWLRQVVKRXOGEHPDGHDQGDGHTXDWHIDFLOLWLHVSURYLGHGWRSURWHFWWKH
H[SHULPHQWDOVXEMHFWDJDLQVWHYHQUHPRWHSRVVLELOLWLHVRILQMXU\GLVDELOLW\RUGHDWK
7KHH[SHULPHQWVKRXOGEHFRQGXFWHGRQO\E\VFLHQWLILFDOO\TXDOLILHGSHUVRQV
7KHKLJKHVWGHJUHHRIVNLOODQGFDUHVKRXOGEHUHTXLUHGWKURXJKDOOVWDJHVRIWKHH[SHULPHQWRI
WKRVHZKRFRQGXFWRUHQJDJHLQWKHH[SHULPHQW
'XULQJWKHFRXUVHRIWKHH[SHULPHQWWKHKXPDQVXEMHFWVKRXOGEHDWOLEHUW\WREULQJWKH
H[SHULPHQWWRDQHQGLIKHKDVUHDFKHGWKHSK\VLFDORUPHQWDOVWDWHZKHUHFRQWLQXDWLRQRIWKH
H[SHULPHQWVHHPHGWRKLPWREHLPSRVVLEOH
'XULQJWKHFRXUVHRIWKHH[SHULPHQWWKHVFLHQWLVWLQFKDUJHPXVWEHSUHSDUHGWRWHUPLQDWHWKH
H[SHULPHQWDWDQ\VWDJHLIKHKDVSUREDEOHFDXVHWREHOLHYHLQWKHH[HUFLVHRIWKHJRRGIDLWK
VXSHULRUVNLOODQGFDUHIXOMXGJHPHQWUHTXLUHGRIKLPWKDWDFRQWLQXDWLRQRIWKHH[SHULPHQWLV
OLNHO\WRUHVXOWLQLQMXU\GLVDELOLW\RUGHDWKWRWKHH[SHULPHQWDOVXEMHFW
7ULDOVRI:DU&ULPLQDOVEHIRUHWKH1XUHPEHUJ0LOLWDU\7ULEXQDOVXQGHU&RQWURO&RXQFLO
/DZ1R9ROSS
:DVKLQJWRQ'&86*RYHUQPHQW3ULQWLQJ2IILFH



7KH(WKLFVRI9DFFLQHVDQGWKH1XUHPEXUJ7ULDOVIRU&ULPHV$JDLQVW+XPDQLW\
KWWSZZZFROOHFWLYH
KWWSHYROXWLRQFRPWKH
XJO\
WUXWK
DERXW
Y DFFLQHV
LV
F RPLQJWR

OLJKW
LQ
QHZ
GHYHORSPHQWV

/HJDO$FWLRQV$JDLQVW0DQGDWHG9DFFLQHVa(VWDYH 0LGGOHWRQ+RVW(ONRUG\
KWWSZZZEORJWDONUDGLRFRPSXEOLFDGYRFDWHOHJDODFWLRQV
2IIOLQH:KDWLVPHGLFLQHVVLJPD"
KWWSZZZWKHODQFHWFRPSGIVMRXUQDOVODQFHW3,,6
(GLWRUV3XEOLVKHUV,PSDFW)DFWRUVDQG5HSULQW,QFRPH
KWWSZZZQFELQOPQLKJRYSPFDUWLFOHV30&
'UXJFRPSDQLHVTXLHWO\IXQQHOIXQGVWRGRFWRUV3D\IRUFRQWLQXLQJHGXFDWLRQOHFWXUHVQRW
PDGHSXEOLF
KWWSZZZERVWRQJOREHFRPQHZVQDWLRQGRFWRUVOREE\NHHS
)LUVW7KH\&DPHIRUWKH$QWL
9D[[HUV
KWWSVZZZOHZURFNZHOOFRPEUHWLJQH
V KDIIHUILUVW
WKH\
F DPH
IRU
WKH
DQWLYD[[HUV
(QWLUHQDWLRQDOPHGLDFDOOLQJRQGRFWRUVWRYLRODWHIXQGDPHQWDOPHGLFDOHWKLFVLQSXVKIRU
YDFFLQHV
KWWSZZZQDWXUDOQHZVFRPBPDQGDWRU\BYDFFLQDWLRQVBPHGLFDOBHWK
,W
VEHHQFODLPHGQRGRFWRUVVSHDNRXWDJDLQVWYDFFLQHVZKLOHEODFNOLVWLQJHYHU\RQHWKDWGRHV
VR DVVRRQDVPRUHRIWKHPVWDUWVSHDNLQJRXWWKHUH
VDFDOOIRUWKHWRUFKHV SLWFKIRUNV
EHFDXVHIDQDWLFLVPGRJPDWLFFHQVRUVKLS ZLWFKKXQWLQJWDFWLFVZRUNDVLVWUDGLWLRQ3
$QWL9DFFLQH'RFWRUV6KRXOG/RVH7KHLU/LFHQVHV
KWWSZZZIRUEHVFRPVLWHVSHWHUOLSVRQDQWLYDFFLQHGRFW
'U-DFN:ROIVRQ&DVH'LVPLVVHG
KWWSVZZZZROIVRQLQWHJUDWLYHFDUGLRORJ\FRPFDVHGLVPLVVHG
(;326('7DFWLFV+HDOWK2IILFLDOV8VHWR*HW,QQRFHQW3DUHQWV7R9DFFLQDWH7KHLU
&KLOGUHQ
KWWSZZZIKIQRUJH[SRVHGWDFWLFVKHDOWKRIILFLDOVXVHWRJHWL
3RZHUIXO3V\FKRORJLFDO7ULJJHUV
KWWSYDFWUXWKFRP
SRZHUIXO
SV\FKRORJLFDO
WULJJHUV

:KDWWR([SHFWIURP\RXU'RFWRU:KHQ<RXUHIXVH9DFFLQHV
KWWSYDFWUXWKFRPH[SHFW
IURP
GRFWRU"XWPBVRXUFH 7KH9DFFLQH7UX
WK1HZVOHWWHU XWPBFDPSDLJQ IDGIH
BBBH[S
HFWDWLRQV XWPBPHGLXP HPDLO XWPBWHUP BFHHH
IDGIH

%H&RPSOLDQW9DFFLQDWHRU,OO&DOO&36
KWWSYD[WUXWKRUJLQGLDQDGRFWRUWHOOVPRPEHFRPSOLDQWYD
%HFDXVHQRWKLQJVD\VJRRGGRFWRUOLNHDWRWDOGLVUHJDUGIRUSDWLHQWV LQIRUPHGFRQVHQW
FRXSOHGZLWKWHUURULVWLFUHWDOLDWLYHEHKDYLRUGLUHFWHGDWIDPLOLHVZKRFKRRVHWRH[HUFLVHWKHLU
ULJKWWRPDNHWKHLURZQKHDOWKFDUHGHFLVLRQV1RWH6DUFDVP
$UH\RXEHLQJ+DUDVVHG"
KWWSYDFFLQHLQIRQHWKDUDVVPHQWLQGH[VKWPO
%XOO\LQJ(QWLUHQDWLRQDOPHGLDFDOOLQJRQGRFWRUVWRYLRODWHIXQGDPHQWDOPHGLFDOHWKLFVLQ
SXVKIRUYDFFLQHV
KWWSZZZQDWXUDOQHZVFRPBPDQGDWRU\BYDFFLQDWLRQVBPHGLFDOBHWK
+RZWR5HVLVWWKH3HGLDWULFLDQV7DFWLFV
KWWSZZZWKHKHDOWK\KRPHHFRQRPLVWFRPKRZ
WR
UHVLVW
SHGLDWULFLDQ
SUR
4XHVWLRQVWRDVN\RXUGRFZKHQKHWULHVWREXOO\\RX)DQWDVWLF
KWWSPLFKDHOFKDGGDGZRUGSUHVVFRPSDUHQWV
OHDUQ
WR
SXVK
EDFNIRUFHIXOO\
DJDLQVW

GRFWRUV
ZKR
KDYH
WDNHQ
SDXO
RIILWV
EXOO\LQJ

$PHULFDQ$FDGHP\RI3HGLDWULFVLVQRW\RXU)ULHQG
KWWSWKLQNLQJPRPVUHYROXWLRQFRPDPHULFDQ
DFDGHP\
SHGLDWULFV
IULHQG
$)DEXORXV/HWWHUWRD6FKRRO2IILFLDODERXW%XOO\LQJWHHQVLQWRJHWWLQJ9DFFLQDWHGDJDLQVWWKH
3DUHQWVZLVKHV
KWWSZZZWKHOLEHUW\EHDFRQFRPYDFFLQHV
PHGLFDO
LJQRUDQFH
RU
GHFHLWRQH
SDUHQW

ZKR
KDG
HQRXJK
9HU\ZHOOZULWWHQDUWLFOHDERXWZKDWDQHZPRPVKRXOGVD\RQKHUZHOOEDE\YLVLW
KWWSMRXUQH\ERRVWFRPZKDW
GR
L
V D\
WR
P\
GRFWRU
+RZWKLV'DGVDLGQR
KWWS\RXUQHZVZLUHFRPWKLVLVWKHZD\RQHIDWKHUWROGKLVSHGLDWUL
5HDG%HIRUH9DFFLQDWLQJ7KH3ULQFLSOHVRI,QIRUPHG&KRLFH
KWWSSDWKZD\VWRIDPLO\ZHOOQHVVRUJ,QIRUPHG&KRLFHUHDGEHIRUHYDFF
KWWSJRRJOPOP9+6

9DFFLQDWLRQ'HIHQGLQJ<RXU5LJKWWR.QRZDQG)UHHGRPWR&KRRVH
KWWSDUWLFOHVPHUFRODFRPVLWHVDUWLFOHVDUFKLYHYDFFLQ

$0$/HWWHUWR'RFWRUV$ERXW5HIXVDOWR9DFFLQDWH'RFWRUV2IWHQ&RHUFH3DUHQWVLQWR
6LJQLQJ&RQWUDFWXVLQJODQJXDJHLQWHQGHGWRVHOILQFULPLQDWHZKHQWKH\GHFOLQHYDFFLQHV
KWWSZZZDDSRUJLPPXQL]DWLRQSHGLDWULFLDQVSGIUHIXVDOWRYDFFLQDW
'HPDQG'RFWRUV6LJQ7KLV3K\VLFLDQ
V:DUUDQW\RI9DFFLQH6DIHW\
KWWSJRRJOS/FDLX
+RZWRUHSRUWDGRFWRUIRUEDGRUXQHWKLFDOWUHDWPHQW
KWWSZZZHKRZFRPKRZBBUHSRUW
EDG
GRFWRUVKWPO
5,&2DFW 9DFFLQHV
KWWSJRRJOD/E44
KWWSULFRDFWFRP"SDJHBLG 
6WDWH0HGLFDO%RDUGV
KWWSVZZZVFULEGFRPGRF6WDWH0HGLFDO%RDUGV
)HGHUDO7UDGH&RPPLVVLRQ&RPSODLQW$VVLVWDQW
KWWSVIWFFRPSODLQWDVVLVWDQWJRY