Login- Download PDF Manual
-
]RQH
7KHWDFKRPHWHUVKRZVWKHHQJLQHVSHHGLQWKRXVDQGV RIUHYROXWLRQVSHUPLQXWH
2XWVLGHWHPSHUDWXUHLQGLFDWRU LI
HTXLSSHG
7KHRXWVLGHWHPSHUDWXUHLQGLFDWRUVKRZVWKHRXWVLGH ±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
WHPSHUDWXUH LQ D UDQJH IURP ± WR °) ± WR °&
EOH 6HH³,QFDVHRIHPHUJHQF\´LQFKDSWHU
7KHLQGLFDWRUFDQJLYHDIDOVHUHDGLQJXQGHUDQ\RIWKH IROORZLQJFRQGLWLRQV y :KHQWKHUHLVWRRPXFKVXQ y 'XULQJLGOLQJ ZKLOHUXQQLQJDWORZVSHHGVLQDWUDIILF MDP ZKHQWKHHQJLQHLVUHVWDUWHGLPPHGLDWHO\IROORZ LQJDVKXWGRZQ y :KHQ WKH DFWXDO RXWVLGH WHPSHUDWXUH IDOOV RXWVLGH WKHVSHFLILHGLQGLFDWRUUDQJH
)XHOJDXJH 7KHIXHOJDXJHVKRZVWKHDSSUR[LPDWHDPRXQWRIIXHO UHPDLQLQJLQWKHWDQN 7KHJDXJHGRHVQRWUHWXUQWR³(´HYHQWKRXJKWKHLJ QLWLRQVZLWFKLVLQWKH³$&&´RU³/2&.´SRVLWLRQ
7KHJDXJHPD\PRYHVOLJKWO\GXULQJEUDNLQJWXUQLQJ RUDFFHOHUDWLRQGXHWRIXHOOHYHOPRYHPHQWLQWKHWDQN
7HPSHUDWXUHJDXJH
,I WKH SRLQWHU H[FHHGV WKH QRUPDO RSHUDWLQJ UDQJHVDIHO\VWRSWKHYHKLFOHDVVRRQDVSRVVL
UB2012BB
1RUPDORSHUDWLQJUDQJH
7KHWHPSHUDWXUHJDXJHVKRZVHQJLQHFRRODQWWHPSHU DWXUHZKHQWKHLJQLWLRQVZLWFKLVLQWKH³21´SRVLWLRQ
7KHFRRODQWWHPSHUDWXUHZLOOYDU\LQDFFRUGDQFHZLWK WKHRXWVLGHWHPSHUDWXUHDQGGULYLQJFRQGLWLRQV
:H UHFRPPHQG WKDW \RX GULYH PRGHUDWHO\ XQWLO WKH SRLQWHU RI WKH WHPSHUDWXUH JDXJH UHDFKHV QHDU WKH PLGGOHRIWKHUDQJH(QJLQHRSHUDWLRQLVRSWLPXPZLWK
WKHHQJLQHFRRODQWDWWKLVWHPSHUDWXUHUDQJHDQGKLJK UHYYLQJRSHUDWLRQZKHQWKHHQJLQHLVQRWZDUPHGXS HQRXJKVKRXOGEHDYRLGHG
,QVWUXPHQWVDQGFRQWUROV
:DUQLQJDQGLQGLFDWRUOLJKWV
6HYHUDO RI WKH ZDUQLQJ DQG LQGLFDWRU OLJKWV FRPH RQ PRPHQWDULO\DQGWKHQJRRXWZKHQWKHLJQLWLRQVZLWFK LV LQLWLDOO\ WXUQHG WR WKH ³21´ SRVLWLRQ 7KLV SHUPLWV FKHFNLQJWKHRSHUDWLRQRIWKHEXOEV $SSO\WKHSDUNLQJEUDNHDQGWXUQWKHLJQLWLRQVZLWFKWR WKH³21´SRVLWLRQ7KHIROORZLQJOLJKWVFRPHRQ
6HDWEHOWZDUQLQJOLJKW 656DLUEDJV\VWHPZDUQLQJOLJKW &+(&.(1*,1(ZDUQLQJOLJKW0DOIXQFWLRQLQGLFD WRUODPS &KDUJHZDUQLQJOLJKW 2LOSUHVVXUHZDUQLQJOLJKW $72,/WHPSHUDWXUHZDUQLQJOLJKW $7YHKLFOHV $%6ZDUQLQJOLJKW %UDNHV\VWHPZDUQLQJOLJKW
,IDQ\OLJKWVIDLOWRFRPHRQLWLQGLFDWHVDEXUQHGRXW EXOERUDPDOIXQFWLRQRIWKHFRUUHVSRQGLQJV\VWHP &RQVXOW\RXUDXWKRUL]HG68%$58GHDOHUIRUUHSDLU
6HDWEHOWZDUQLQJOLJKWDQGFKLPH :KHQWKHLJQLWLRQVZLWFKLVWXUQHGWRWKH³21´SRVLWLRQ WKHVHDWEHOWZDUQLQJOLJKWZLOOFRPHRQDQGWKHUHPLQG HUFKLPHZLOOVRXQGIRUDERXWVL[VHFRQGVWRUHPLQGWKH
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
GULYHUWRIDVWHQWKHVHDWEHOW 7KH VHDWEHOW ZDUQLQJ OLJKW UHPDLQV RQ IRU DERXW VL[ VHFRQGVDQGWXUQVRIIDXWRPDWLFDOO\DIWHUVL[VHFRQGV 7KH VHDWEHOW UHPLQGHU FKLPH ZLOO WXUQ RII ZKHQ WKH GULYHU¶VVLGHVHDWEHOWLVEXFNOHGRULWZLOOWXUQRIIDXWR PDWLFDOO\DIWHUVL[VHFRQGV
656DLUEDJV\VWHPZDUQLQJ
OLJKW
:KHQWKHLJQLWLRQVZLWFKLVWXUQHGWRWKH³21´SRVLWLRQ WKH656DLUEDJV\VWHPZDUQLQJOLJKWZLOOFRPHRQIRU DERXW VL[ VHFRQGV DQG JR RXW 7KLV VKRZV WKH 656
IURQWDODLUEDJDQGVHDWEHOWSUHWHQVLRQHUVDUHLQQRUPDO RSHUDWLRQ ,IWKLVOLJKWFRPHVRQZKLOHGULYLQJRUUHPDLQVLOOXPLQDW HGHYHQDIWHUDSHULRGRIDERXWVHFRQGVIURPZKHQ WKHLJQLWLRQKDVEHHQWXUQHGRQLWPD\LQGLFDWHWKDWWKH 656 IURQWDO DLUEDJ V\VWHP RU VHDWEHOW SUHWHQVLRQHU V\VWHPLVQRWZRUNLQJSURSHUO\&RQWDFW\RXUQHDUHVW 68%$58GHDOHULPPHGLDWHO\ &+(&.(1*,1(ZDUQLQJOLJKW
0DOIXQFWLRQLQGLFDWRUODPS
,IWKH&+(&.(1*,1(OLJKWFRPHVRQZKLOH\RX DUHGULYLQJKDYH\RXUYHKLFOHFKHFNHGUHSDLUHG E\ \RXU 68%$58 GHDOHU DV VRRQ DV SRVVLEOH &RQWLQXHGYHKLFOHRSHUDWLRQZLWKRXWKDYLQJWKH HPLVVLRQFRQWUROV\VWHPFKHFNHGDQGUHSDLUHG DV QHFHVVDU\ FRXOG FDXVH VHULRXV GDPDJH ZKLFK PD\ QRW EH FRYHUHG E\ \RXU YHKLFOH¶V ZDUUDQW\
,IWKLVOLJKWFRPHVRQVWHDGLO\RUEOLQNVZKLOHWKHHQJLQH LVUXQQLQJLWPD\LQGLFDWHWKDWWKHUHLVDSUREOHPRUSR WHQWLDO SUREOHP VRPHZKHUH LQ WKH HPLVVLRQ FRQWURO V\VWHP
T ,IWKHOLJKWFRPHVRQVWHDGLO\ ,IWKHOLJKWFRPHVRQVWHDGLO\ZKLOHGULYLQJRUGRHVQRW JRRXWDIWHUWKHHQJLQHVWDUWVDQHPLVVLRQFRQWUROV\V WHPPDOIXQFWLRQKDVEHHQGHWHFWHG
,QVWUXPHQWVDQGFRQWUROV
127( 7KLVOLJKWDOVRFRPHVRQZKHQWKHIXHOILOOHUFDSLV QRWWLJKWHQHGXQWLOLWFOLFNV
DQGFRPH RQVWHDGLO\ DIWHU VHYHUDO GULYLQJ WULSV
,I\RXKDYHUHFHQWO\UHIXHOHG\RXUYHKLFOHWKHFDXVHRI WKH&+(&.(1*,1(ZDUQLQJOLJKWPDOIXQFWLRQLQGLFD WRUODPSFRPLQJRQFRXOGEHDORRVHRUPLVVLQJIXHOILOO HUFDS5HPRYHWKHFDSDQGUHWLJKWHQLWXQWLOLWFOLFNV 0DNHVXUHQRWKLQJLVLQWHUIHULQJZLWKWKHVHDOLQJRIWKH FDS7LJKWHQLQJWKHFDSZLOOQRWPDNHWKH&+(&.(1 *,1( ZDUQLQJ OLJKW WXUQ RII LPPHGLDWHO\ ,W PD\ WDNH VHYHUDOGULYLQJWULSV,IWKHOLJKWGRHVQRWJRRXWWDNH \RXU YHKLFOH WR \RXU DXWKRUL]HG 68%$58 GHDOHU LP PHGLDWHO\
T ,IWKHOLJKWLVEOLQNLQJ ,IWKHOLJKWLVEOLQNLQJZKLOHGULYLQJDQHQJLQHPLVILUH FRQGLWLRQKDVEHHQGHWHFWHGZKLFKPD\GDPDJHWKH HPLVVLRQFRQWUROV\VWHP 7R SUHYHQW VHULRXV GDPDJH WR WKH HPLVVLRQ FRQWURO V\VWHP\RXVKRXOGGRWKHIROORZLQJ y 5HGXFHYHKLFOHVSHHG y $YRLGKDUGDFFHOHUDWLRQ y $YRLGVWHHSXSKLOOJUDGHV y 5HGXFHWKHDPRXQWRIFDUJRLISRVVLEOH y 6WRSWRZLQJDWUDLOHUDVVRRQDVSRVVLEOH
7KH&+(&.(1*,1(ZDUQLQJOLJKWPD\VWRSEOLQNLQJ
&KDUJHZDUQLQJOLJKW ,I WKLV OLJKW FRPHV RQ ZKHQ WKH HQJLQH LV UXQQLQJ LW PD\LQGLFDWHWKDWWKHFKDUJLQJV\VWHPLVQRWZRUNLQJ SURSHUO\
,IWKHOLJKWFRPHVRQZKLOHGULYLQJRUGRHVQRWJRRXW DIWHUWKHHQJLQHVWDUWVVWRSWKHHQJLQHDWWKHILUVWVDIH RSSRUWXQLW\DQGFKHFNWKHDOWHUQDWRUEHOW,IWKHEHOWLV ORRVHEURNHQRULIWKHEHOWLVLQJRRGFRQGLWLRQEXWWKH OLJKWUHPDLQVRQFRQWDFW\RXUQHDUHVW68%$58GHDO HULPPHGLDWHO\
2LOSUHVVXUHZDUQLQJOLJKW
'RQRWRSHUDWHWKHHQJLQHZLWKWKHRLOSUHVVXUH ZDUQLQJ OLJKW RQ 7KLV PD\ FDXVH VHULRXV HQ JLQHGDPDJH
,I WKLV OLJKW FRPHV RQ ZKHQ WKH HQJLQH LV UXQQLQJ LW PD\LQGLFDWHWKDWWKHHQJLQHRLOSUHVVXUHLVORZDQGWKH
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
OXEULFDWLQJV\VWHPLVQRWZRUNLQJSURSHUO\ ,IWKHOLJKWFRPHVRQZKLOHGULYLQJRUGRHVQRWJRRXW DIWHUWKHHQJLQHVWDUWVVWRSWKHHQJLQHDWWKHILUVWVDIH RSSRUWXQLW\DQGFKHFNWKHHQJLQHRLOOHYHO,IWKHRLOOHY HOLVORZDGGRLOLPPHGLDWHO\,IWKHHQJLQHRLOLVDWWKH SURSHU OHYHO EXW WKH OLJKW UHPDLQV RQ FRQWDFW \RXU QHDUHVW68%$58GHDOHULPPHGLDWHO\
$72,/7(03HUDWXUHZDUQLQJ
OLJKW IRU$7YHKLFOHV
,I WKLV OLJKW FRPHV RQ ZKHQ WKH HQJLQH LV UXQQLQJ LW PD\LQGLFDWHWKDWWKHDXWRPDWLFWUDQVPLVVLRQIOXLGWHP SHUDWXUHLVWRRKRW
,IWKHOLJKWFRPHVRQZKLOHGULYLQJLWLVXQQHFHVVDU\WR VWRSWKHYHKLFOHEXWDYRLGGULYLQJXSVWHHSJUDGHVRU LQVWRSDQGJRWUDIILF
T $XWRPDWLFWUDQVPLVVLRQFRQWUROV\VWHPZDUQ
LQJ
,IWKHOLJKWIODVKHVDIWHUWKHHQJLQHVWDUWVLWPD\LQGL FDWHWKDWWKHDXWRPDWLFWUDQVPLVVLRQFRQWUROV\VWHPLV QRWZRUNLQJSURSHUO\&RQWDFW\RXUQHDUHVW68%$58
GHDOHUIRUVHUYLFHLPPHGLDWHO\(U.S.) $%6ZDUQLQJOLJKW (Canada) 7KH $%6 ZDUQLQJ OLJKW FRPHV RQ ZKHQ WKH LJQLWLRQ
VZLWFKLVWXUQHGWRWKH³21´SRVLWLRQDQGJRHVRXWDIWHU DERXWWZRVHFRQGV 7KLVLV DQ LQGLFDWLRQ WKDWWKH $%6V\VWHPLV ZRUNLQJ SURSHUO\
,IWKHZDUQLQJOLJKWEHKDYHVDVIROORZVWKH$%6
V\VWHPPD\QRWZRUNSURSHUO\ :KHQWKHZDUQLQJOLJKWLVRQWKH$%6IXQFWLRQ VKXWV GRZQ KRZHYHU WKH FRQYHQWLRQDO EUDNH V\VWHPFRQWLQXHVWRRSHUDWHQRUPDOO\ y 7KHZDUQLQJOLJKWGRHVQRWFRPHRQZKHQWKH LJQLWLRQVZLWFKLVWXUQHGWRWKH³21´SRVLWLRQ y 7KHZDUQLQJOLJKWFRPHVRQZKHQWKHLJQLWLRQ VZLWFK LV WXUQHG WR WKH ³21´ SRVLWLRQ EXW LW GRHV QRW JR RXW HYHQ ZKHQ WKH YHKLFOH VSHHG H[FHHGVDSSUR[LPDWHO\PSK NPK y 7KHZDUQLQJOLJKWFRPHVRQGXULQJGULYLQJ,IWKHVHRFFXUKDYHWKH$%6V\VWHPUHSDLUHGDW WKHILUVWDYDLODEOHRSSRUWXQLW\E\\RXU68%$58
GHDOHU127( ,I WKH ZDUQLQJ OLJKW EHKDYLRU LV DV GHVFULEHG EH ORZWKH$%6V\VWHPPD\EHFRQVLGHUHGQRUPDO
y 7KH ZDUQLQJ OLJKW FRPHV RQ ULJKW DIWHU WKH HQ JLQHLVVWDUWHGEXWJRHVRXWLPPHGLDWHO\UHPDLQ LQJRII y 7KH ZDUQLQJ OLJKW UHPDLQV RQ DIWHU WKH HQJLQH KDVEHHQVWDUWHGEXWLWJRHVRXWZKHQWKHYHKLFOH VSHHGUHDFKHVDERXWPSK NPK y 7KHZDUQLQJOLJKWFRPHVRQGXULQJGULYLQJEXW LWJRHVRXWLPPHGLDWHO\DQGUHPDLQVRII
:KHQGULYLQJZLWKDQLQVXIILFLHQWEDWWHU\YROWDJHVXFK DVZKHQWKHHQJLQHLVMXPSVWDUWHGWKH$%6ZDUQLQJ OLJKWPD\FRPHRQ7KLVLVGXHWRWKHORZEDWWHU\YROW DJH DQG GRHV QRW LQGLFDWH D PDOIXQFWLRQ :KHQ WKH EDWWHU\EHFRPHVIXOO\FKDUJHGWKHOLJKWZLOOJRRXW
%UDNHV\VWHPZDUQLQJOLJKW
(U.S.) (Canada)
y 'ULYLQJ ZLWK WKH EUDNH V\VWHP ZDUQLQJ OLJKW RQLVGDQJHURXV7KLVLQGLFDWHV\RXUEUDNHV\V WHPPD\QRWEHZRUNLQJSURSHUO\,IWKHOLJKWUH PDLQV RQ KDYH WKH EUDNHV LQVSHFWHG E\ D 68%$58GHDOHULPPHGLDWHO\ y ,IDWDOOLQGRXEWDERXWZKHWKHUWKHEUDNHVDUH RSHUDWLQJ SURSHUO\ GR QRW GULYH WKH YHKLFOH +DYH \RXU YHKLFOH WRZHG WR WKH QHDUHVW
,QVWUXPHQWVDQGFRQWUROV
68%$58GHDOHUIRUUHSDLU
7KLVOLJKWKDVWKHIROORZLQJWZRIXQFWLRQV
T 3DUNLQJEUDNHZDUQLQJ 7KH OLJKW FRPHV RQ ZLWK WKH SDUNLQJ EUDNH DSSOLHG ZKLOHWKHLJQLWLRQVZLWFKLVLQWKH³21´SRVLWLRQ,WJRHV RXWZKHQWKHSDUNLQJEUDNHLVIXOO\UHOHDVHG
T %UDNHIOXLGOHYHOZDUQLQJ 7KLV OLJKW FRPHV RQ ZKHQ WKH EUDNH IOXLG OHYHO KDV GURSSHGWRQHDUWKH³0,1´OHYHORIWKHEUDNHIOXLGUHV HUYRLUZLWKWKHLJQLWLRQVZLWFKLQWKH³21´SRVLWLRQDQG ZLWKWKHSDUNLQJEUDNHIXOO\UHOHDVHG
,IWKHEUDNHV\VWHPZDUQLQJOLJKWVKRXOGFRPHRQZKLOH GULYLQJ ZLWKWKHSDUNLQJEUDNHIXOO\UHOHDVHGDQGZLWK WKHLJQLWLRQVZLWFKSRVLWLRQHGLQ³21´ LWFRXOGEHDQ LQGLFDWLRQRIOHDNLQJRIEUDNHIOXLGRUZRUQEUDNHSDGV ,IWKLVRFFXUVLPPHGLDWHO\VWRSWKHYHKLFOHDWWKHQHDU HVWVDIHSODFHDQGFKHFNWKHEUDNHIOXLGOHYHO,IWKHIOX LGOHYHOLVEHORZWKH³0,1´PDUNLQWKHUHVHUYRLUGRQRW GULYHWKHYHKLFOH+DYHWKHYHKLFOHWRZHGWRWKHQHDU HVW68%$58GHDOHUIRUUHSDLU
'RRUDMDUZDUQLQJOLJKWV 7KH VSHFLILF GRRU DMDU ZDUQLQJ OLJKW FRPHV RQ LI DQ\ ±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
GRRULVQRWIXOO\FORVHG
$OZD\VPDNHVXUHWKLVOLJKWLVRXWEHIRUH\RXVWDUWWR GULYH
6ZLWFKEDFNGRRULQGLFDWRUOLJKW :KLOH WKH LJQLWLRQ VZLWFK LV LQ WKH ³21´ SRVLWLRQ WKH VZLWFKEDFN GRRU LQGLFDWRU OLJKW FRPHV RQ ZKHQ WKH VZLWFKEDFNGRRULVRSHQ :KLOHWKHLJQLWLRQVZLWFKLVLQWKH³/2&.´RU³$&&´SR VLWLRQ WKH VZLWFKEDFN GRRU LQGLFDWRU OLJKW IODVKHV IRU DERXWVHFRQGVDQGJRHVRIIZKHQWKHVZLWFKEDFN GRRULVRSHQ
/RZIXHOZDUQLQJOLJKW 7KHORZIXHOZDUQLQJOLJKWFRPHVRQZKHQWKHWDQNLV QHDUO\HPSW\DERXW86JDO OLWHUVRU,PS JDO ,WRQO\RSHUDWHVZKHQWKHLJQLWLRQVZLWFKLVLQWKH ³21´SRVLWLRQ
127( 7KLV OLJKW GRHV QRW JR RXW XQOHVV WKH WDQN LV UH SOHQLVKHGXSWRDQLQWHUQDOIXHOTXDQWLW\RIDERXW 86JDO OLWHUV,PSJDO
3URPSWO\SXWIXHOLQWKHWDQNZKHQHYHUWKHORZ IXHOZDUQLQJOLJKWFRPHVRQ,IWKHHQJLQHPLV ILUHGDVDUHVXOWRIDQHPSW\WDQNUHVXOWLQJFDW DO\]HUGDPDJHFRXOGFDXVHGDPDJHWRWKHWXU ERFKDUJHU
)URQWZKHHOGULYHZDUQLQJOLJKW
IRU$7YHKLFOHV
7KLV OLJKW FRPHV RQ ZKHQ $OO :KHHO 'ULYH LV GLVHQ JDJHGDQGWKHGULYHPHFKDQLVPLVVZLWFKHGWR)URQW :KHHO'ULYHIRUPDLQWHQDQFHRUVLPLODUSXUSRVHV
6HFXULW\V\VWHPVWDWXVLQGLFDWRU
OLJKW LIHTXLSSHG
7KLVOLJKWLVIRXQGDWWKHERWWRPFHQWHURIWKHFRPELQD WLRQPHWHUSDQHO 2QYHKLFOHVHTXLSSHGZLWKDVHFXULW\V\VWHPLWEOLQNV WRVKRZWKHGULYHUWKHRSHUDWLRQDOVWDWXVRIWKHVHFXULW\ V\VWHP)RUGHWDLOHGLQIRUPDWLRQUHIHUWRWKH³6HFXULW\ V\VWHP LIHTXLSSHG ´LQ&KDSWHU
6HOHFWRUOHYHUSRVLWLRQLQGLFDWRU $7
*HDUSRVLWLRQLQGLFDWRU $7YHKLFOHV
YHKLFOHV
,QVWUXPHQWVDQGFRQWUROV
7KLVLQGLFDWRUVKRZVWKHSRVLWLRQRIWKHVHOHFWRUOHYHU
UB3025AA
UBS094AA
:KHQWKHVHOHFWRUOHYHULVLQWKHPDQXDOJDWHWKLVLQ GLFDWRUVKRZVWKHFXUUHQWO\VHOHFWHGJHDU
7XUQVLJQDOLQGLFDWRUOLJKWV 7KHVHOLJKWVVKRZWKHRSHUDWLRQRIWKHWXUQVLJQDORU ODQHFKDQJHVLJQDO ,IWKHLQGLFDWRUOLJKWVGRQRWEOLQNRUEOLQNUDSLGO\WKH WXUQVLJQDOEXOEPD\EHEXUQHGRXW5HSODFHWKHEXOE DV VRRQ DV SRVVLEOH 5HIHU WR WKH ³5HSODFLQJ EXOEV´ VHFWLRQLQFKDSWHU
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
+LJKEHDPLQGLFDWRUOLJKW 7KLV OLJKW VKRZV WKDW WKH KHDGOLJKWV DUH LQ WKH KLJK EHDPPRGH 7KLVLQGLFDWRUOLJKWDOVRFRPHVRQZKHQWKHKHDGOLJKW IODVKHULVRSHUDWHG
&ORFN
&DUJRODPSLQGLFDWRUOLJKW
'RQRWVZLWFKRQWKHFDUJRODPSZKLOHGULYLQJ WRDYRLGGLVWUDFWLQJRWKHUGULYHUV
7KLVLQGLFDWRUOLJKWVKRZVWKDWWKHFDUJRODPSFRPHV RQ
&UXLVHFRQWUROVHWLQGLFDWRUOLJKW 7KHOLJKWFRPHVRQZKHQYHKLFOHVSHHGKDVEHHQVHW
7RVHWWKHWLPHWXUQWKHVHWWLQJNQREFORFNZLVHWRDG YDQFHDQGFRXQWHUFORFNZLVHWRUHWDUGWKHWLPH
UB2013BA
7RHQVXUHVDIHW\GRQRWDWWHPSWWRVHWWKHWLPH ZKLOH GULYLQJ DV DQ DFFLGHQW IURP LQDGHTXDWH DWWHQWLRQWRWKHURDGFRXOGUHVXOW
/LJKWFRQWUROVZLWFK
+HDGOLJKWV
,QVWUXPHQWVDQGFRQWUROV
7RSUHYHQWEDWWHU\GLVFKDUJHUHVXOWLQJIURPDF FLGHQWDOO\OHDYLQJ\RXUOLJKWVRQZKHQ\RXUYH KLFOH LV SDUNHG WKH OLJKW VZLWFK RSHUDWHV RQO\ ZKHQ WKH LJQLWLRQ VZLWFK LV LQ WKH ³21´ SRVL WLRQ,QDQ\RWKHUSRVLWLRQWKHYHKLFOH¶VOLJKWV ZLOOEHRXW ,I\RXSDUN\RXUYHKLFOHRQDURDGVLGHDWQLJKW XVHWKHKD]DUGZDUQLQJIODVKHUWRDOHUWWKHRWKHU GULYHUV
7KHOLJKWVZLWFKRSHUDWHVRQO\ZKHQWKHLJQLWLRQVZLWFK LVLQWKH³21´SRVLWLRQ
HS3026BA
7RWXUQRQWKHKHDGOLJKWVWXUQWKHNQRERQWKHHQGRI WKHWXUQVLJQDOOHYHU
ILUVWSRVLWLRQ
3DUNLQJOLJKWVLQVWUXPHQWSDQHOLOOXPLQDWLRQWDLOOLJKWV DQGOLFHQVHSODWHOLJKWDUHRQ
VHFRQGSRVLWLRQ
+HDGOLJKWV SDUNLQJ OLJKWV LQVWUXPHQW SDQHO LOOXPLQD WLRQWDLOOLJKWVDQGOLFHQVHSODWHOLJKWDUHRQ
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
+LJKORZEHDPFKDQJH GLPPHU
+HDGOLJKWIODVKHU
HS3026CA
HS3026DA
7RFKDQJHIURPORZEHDPWRKLJKEHDPSXVKWKHWXUQ VLJQDOOHYHUIRUZDUG:KHQWKHKHDGOLJKWVDUHRQKLJK EHDPWKHKLJKEHDPLQGLFDWRUOLJKW³ ´RQWKHLQ VWUXPHQWSDQHOLVDOVRRQ 7RVZLWFKEDFNWRORZEHDPSXOOWKHOHYHUEDFNWRWKH GHWHQWSRVLWLRQ
'RQRWKROGWKHOHYHULQWKHIODVKLQJSRVLWLRQIRU PRUHWKDQMXVWDIHZVHFRQGV
7RIODVKWKHKHDGOLJKWVSXOOWKHOHYHUWRZDUG\RXDQG WKHQUHOHDVHLW7KHKLJKEHDPZLOOVWD\RQIRUDVORQJ DV \RX KROG WKH OHYHU 7KH KHDGOLJKW IODVKHU ZRUNV HYHQ WKRXJK WKH OLJKWLQJ VZLWFK LV LQ WKH ³2))´ SRVL WLRQ
:KHQWKHKHDGOLJKWVDUHRQKLJKEHDPWKHKLJKEHDP
LQGLFDWRU OLJKW ³ FRPHVRQ
´ RQ WKH LQVWUXPHQW SDQHO DOVR
7XUQVLJQDOOHYHU
'D\WLPHUXQQLQJOLJKWV\VWHP
7KHWDLOOLJKWVSDUNLQJOLJKWVDQGVLGHPDUNHU OLJKWVDUHQRWWXUQHGRQE\WKHGD\WLPHUXQQLQJ OLJKW V\VWHP 7KH OLJKW VZLWFK PXVW DOZD\V EH WXUQHG WR WKH ³ ´ SRVLWLRQ ZKHQ LW LV GDUN RXWVLGH
7KHORZEHDPKHDGOLJKWVZLOODXWRPDWLFDOO\FRPHRQDW UHGXFHGEULJKWQHVVZKHQWKHHQJLQHKDVVWDUWHGXQ GHUWKHIROORZLQJFRQGLWLRQV y 7KHSDUNLQJEUDNHLVIXOO\UHOHDVHG y 7KHOLJKWVZLWFKLVLQWKH³2))´RU³
´SRVLWLRQ
5LJKWWXUQ /HIWWXUQ
,QVWUXPHQWVDQGFRQWUROV
HS3027BC
7RDFWLYDWHWKHULJKWWXUQVLJQDOSXVKWKHWXUQVLJQDOOH YHUXS 7RDFWLYDWH WKHOHIWWXUQ VLJQDOSXVKWKHWXUQ VLJQDOOHYHUGRZQ:KHQWKHWXUQLVILQLVKHGWKHOHYHU ZLOOUHWXUQDXWRPDWLFDOO\,IWKHOHYHUGRHVQRWUHWXUQDI WHUFRUQHULQJUHWXUQWKHOHYHUWRWKHQHXWUDOSRVLWLRQE\ KDQG
7RVLJQDODODQHFKDQJHSXVKWKHWXUQVLJQDOOHYHUXS RU GRZQ VOLJKWO\ DQG KROG LW GXULQJ WKH ODQH FKDQJH 7KHWXUQVLJQDOLQGLFDWRUOLJKWVZLOOIODVKLQWKHGLUHFWLRQ ±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
RIWKHWXUQRUODQHFKDQJH7KHOHYHUZLOOUHWXUQDXWR PDWLFDOO\WRWKHQHXWUDOSRVLWLRQZKHQ\RXUHOHDVHLW
,OOXPLQDWLRQEULJKWQHVVFRQWURO
HS3028BB
%ULJKWHQ 'DUNHQ
:KHQWKHOLJKWLQJVZLWFK LVLQWKH³ ´ SRVLWLRQ\RXFDQDGMXVWEULJKWQHVVRIWKHLQVWUXPHQW SDQHOLOOXPLQDWLRQIRUEHWWHUYLVLELOLW\ 7REULJKWHQWXUQWKHFRQWUROGLDOFRXQWHUFORFNZLVH 7RGDUNHQWXUQWKHFRQWUROGLDOFORFNZLVH
´RU³
3DUNLQJOLJKWVZLWFK
WKDWZLOOUXQGRZQWKHEDWWHU\
,QVWUXPHQWVDQGFRQWUROV
HS3029BA
7KHSDUNLQJOLJKWVZLWFKRSHUDWHVUHJDUGOHVVRIWKHLJ QLWLRQVZLWFKSRVLWLRQ
%\SXVKLQJWKHIURQWHQGRIWKLVVZLWFKIROORZLQJOLJKWV ZLOOFRPHRQ ± 3DUNLQJOLJKWV ± )URQWDQGUHDUVLGHPDUNHUOLJKWV ± 7DLOOLJKWV ± /LFHQVHSODWHOLJKWV
7R WXUQ RII SXVK WKH UHDU HQG RI WKH SDUNLQJ OLJKW VZLWFK $YRLGOHDYLQJWKHVHOLJKWVRQIRUDORQJWLPHEHFDXVH
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
)RJOLJKWVZLWFK
:LSHUDQGZDVKHU
7KHIRJOLJKWVRSHUDWHRQO\ZKHQWKHKHDGOLJKWVDUHRQ ORZ EHDP 3XVK WKH IRJ OLJKW VZLWFK WR WXUQ WKH IRJ OLJKWVRQ 3UHVVWKHVZLWFKDJDLQWRWXUQWKHPRII
7KHLQGLFDWRUOLJKWORFDWHGRQWKHVZLWFKZLOOLOOXPLQDWH ZKHQWKHIRJOLJKWVDUHRQ
UB3030BA
,QIUHH]LQJZHDWKHUGRQRWXVHWKHZLQGVKLHOG ZDVKHU XQWLO WKH ZLQGVKLHOG LV VXIILFLHQWO\ ZDUPHGE\WKHGHIURVWHU 2WKHUZLVH WKH ZDVKHU IOXLG FDQ IUHH]H RQ WKH ZLQGVKLHOGEORFNLQJ\RXUYLHZ
y 'R QRW RSHUDWH WKH ZDVKHU FRQWLQXRXVO\ IRU PRUHWKDQWHQVHFRQGVRUZKHQWKHZDVKHUIOX LGWDQNLVHPSW\7KLVPD\FDXVHRYHUKHDWLQJRI WKHZDVKHUPRWRU&KHFNWKHZDVKHUIOXLGOHYHO IUHTXHQWO\VXFKDVDWIXHOVWRSV y 'R QRW RSHUDWH WKH ZLSHUV ZKHQ WKH ZLQG VKLHOGRUUHDUZLQGRZLVGU\7KLVPD\VFUDWFK WKHJODVVGDPDJHWKHZLSHUEODGHVDQGFDXVH WKH ZLSHU PRWRU WR EXUQ RXW %HIRUH RSHUDWLQJ WKHZLSHURQDGU\ZLQGVKLHOGRUUHDUZLQGRZ DOZD\VXVHWKHZLQGVKLHOGZDVKHU y ,Q IUHH]LQJ ZHDWKHU EH VXUH WKDW WKH ZLSHU EODGHVDUHQRWIUR]HQWRWKHZLQGVKLHOGRUUHDU ZLQGRZ EHIRUH VZLWFKLQJ RQ WKH ZLSHUV $W
WHPSWLQJ WR RSHUDWH WKH ZLSHU ZLWK WKH EODGHV IUR]HQ WR WKH ZLQGRZ JODVV FRXOG FDXVH QRW RQO\WKHZLSHUEODGHVWREH GDPDJHGEXWDOVR WKHZLSHUPRWRUWREXUQRXW,IWKHZLSHUEODGH LVIUR]HQWRWKHZLQGRZJODVVEHVXUHWRRSHU DWHWKHGHIURVWHUZLSHUGHLFHU LIHTXLSSHG RU UHDU ZLQGRZ GHIRJJHU EHIRUH WXUQLQJ RQ WKH ZLSHU y ,I WKH ZLSHUV VWRS GXULQJ RSHUDWLRQ EHFDXVH RILFHRUVRPHRWKHUREVWUXFWLRQRQWKHZLQGRZ WKHZLSHUPRWRUFRXOGEXUQRXWHYHQLIWKHZLSHU VZLWFK LV WXUQHG RII ,I WKLV RFFXUV SURPSWO\ VWRSWKHYHKLFOHLQDVDIHSODFHWXUQWKHLJQLWLRQ VZLWFK WR WKH ³/2&.´ SRVLWLRQ DQG FOHDQ WKH ZLQGRZJODVVWRDOORZSURSHUZLSHURSHUDWLRQ y 8VHFOHDQZDWHULIZLQGVKLHOGZDVKHUIOXLGLV XQDYDLODEOH ,Q DUHDV ZKHUH ZDWHU IUHH]HV LQ ZLQWHUXVH68%$58:LQGVKLHOG:DVKHU)OXLG RUWKHHTXLYDOHQW 6HH³:LQGVKLHOGZDVKHUIOX LG´VHFWLRQLQFKDSWHU $OVR ZKHQ GULYLQJ WKH YHKLFOHZKHQ WKHUHDUH IUHH]LQJ WHPSHUDWXUHV XVH QRQIUHH]LQJ W\SH ZLSHUEODGHV y 'RQRWFOHDQWKHZLSHU EODGHVZLWKJDVROLQH RUDVROYHQWVXFKDVSDLQWWKLQQHURUEHQ]HQH 7KLV ZLOO FDXVH GHWHULRUDWLRQ RI WKH ZLSHU
,QVWUXPHQWVDQGFRQWUROV
EODGHV
127( y 7KH ZLSHU RSHUDWHV RQO\ ZKHQ WKH LJQLWLRQ VZLWFKLVLQWKH³21´RU³$&&´SRVLWLRQ y &OHDQ\RXUZLSHUEODGHVDQGZLQGRZJODVVSHUL RGLFDOO\ZLWKDZDVKHUVROXWLRQWRSUHYHQWVWUHDN LQJDQGWRUHPRYHDFFXPXODWLRQVRIURDGVDOWRU URDG ILOP .HHS WKH ZDVKHU EXWWRQ GHSUHVVHG DW OHDVWIRUVHFRQGVRWKDWZDVKHUVROXWLRQZLOOEH VSULQNOHGDOORYHUWKHZLQGVKLHOGRUUHDUZLQGRZ y *UHDVH ZD[ LQVHFWV RU RWKHU PDWHULDO RQ WKH ZLQGVKLHOGRUWKHZLSHUEODGHVUHVXOWVLQMHUN\ZLS HURSHUDWLRQDQGVWUHDNLQJRQWKHJODVV,I\RXFDQ QRW UHPRYH WKRVH VWUHDNV DIWHU RSHUDWLQJ WKH ZDVKHURULIWKHZLSHURSHUDWLRQLVMHUN\FOHDQWKH RXWHU VXUIDFH RI WKH ZLQGVKLHOG RU UHDU ZLQGRZ DQGWKHZLSHUEODGHVXVLQJDVSRQJHRUVRIWFORWK ZLWKDQHXWUDOGHWHUJHQWRUPLOGDEUDVLYHFOHDQHU $IWHUFOHDQLQJULQVHWKHZLQGRZJODVVDQGZLSHU EODGHV ZLWK FOHDQ ZDWHU 7KH JODVV LV FOHDQ LI QR EHDGVIRUPRQWKHJODVVZKHQ\RXULQVHZLWKZD WHU y ,I\RXFDQQRWHOLPLQDWHWKHVWUHDNLQJHYHQDIWHU IROORZLQJWKLVSURFHGXUHUHSODFHWKHZLSHUEODGHV ZLWKQHZRQHV5HIHUWRWKH³5HSODFHPHQWRIZLQG
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
VKLHOG ZLSHU EODGHV´ VHFWLRQ FKDSWHU IRU UH SODFHPHQWLQVWUXFWLRQV
:LQGVKLHOGZLSHUDQGZDVKHUVZLWFKHV
T :LQGVKLHOGZLSHUV
VLWLRQ
T 0LVW IRUDVLQJOHZLSH )RUDVLQJOHZLSHRIWKHZLSHUVSXOOWKHOHYHUWRZDUG \RX7KHZLSHUVRSHUDWHXQWLO\RXUHOHDVHWKHOHYHU
T :LSHULQWHUPLWWHQWWLPHFRQWURO LIHTXLSSHG
P U L L L P U L L L M I S T
OFF
INT
LO
PULLL MIST
HI
UB3022BB
0,67
7R WXUQ WKH ZLSHUV RQ SXVK WKH ZLSHU FRQWURO OHYHU GRZQ
,QWHUPLWWHQW /2 /RZVSHHG +, +LJKVSHHG
7RWXUQWKHZLSHUVRIIUHWXUQWKHOHYHUWRWKH³2))´SR
UB3024BA
:KHQWKHZLSHUVZLWFKLVLQWKH³ WKHGLDOWRDGMXVWWKHRSHUDWLQJLQWHUYDORIWKHZLSHU 7KH RSHUDWLQJ LQWHUYDO FDQ EH DGMXVWHG FRQWLQXRXVO\ IURPWKHVKRUWHVWLQWHUYDOWRWKHORQJHVW 7ZRFOLFNVWRSSRVLWLRQVRIWKHGLDOPD\KHOS\RXWRDLP DW\RXUGHVLUHGLQWHUYDO
´SRVLWLRQWXUQ
T :DVKHU
5HDUZLQGRZGHIRJJHUVZLWFK
,QVWUXPHQWVDQGFRQWUROV
P U L L L P U L L L M I S T
UB3023BA
7RZDVKWKHZLQGVKLHOGSXVKWKHZDVKHUEXWWRQDWWKH HQGRIWKHZLSHUFRQWUROOHYHU7KHZDVKHUIOXLGVSUD\V XQWLO\RXUHOHDVHWKHZDVKHUEXWWRQ7KHZLSHUVRSHU DWHZKLOH\RXSXVKWKHEXWWRQ
y 'R QRW XVH VKDUS LQVWUXPHQWV RU ZLQGRZ FOHDQHUFRQWDLQLQJDEUDVLYHVWRFOHDQWKHLQQHU VXUIDFHRIWKHUHDUZLQGRZ7KH\PD\GDPDJH WKHFRQGXFWRUVSULQWHGRQWKHZLQGRZ y 7R SUHYHQW WKH EDWWHU\ IURP EHLQJ GLV FKDUJHGGRQRWRSHUDWHWKHGHIRJJHUFRQWLQX RXVO\IRUDQ\ORQJHUWKDQQHFHVVDU\
7KHUHDUZLQGRZGHIRJJHURSHUDWHVRQO\ZKHQWKHLJ QLWLRQVZLWFKLVLQWKH³21´SRVLWLRQ 7KHUHDUZLQGRZGHIRJJHUVZLWFKLVORFDWHGRQWKHFOL PDWHFRQWUROSDQHO
7KHGHIRJJHUZLOODXWRPDWLFDOO\VKXWRIIDIWHUDERXW PLQXWHV ,I WKH ZLQGRZ FOHDUV EHIRUH WKDW WLPH SXVK WKHVZLWFKWRWXUQLWRII,WDOVRWXUQVRIIZKHQWKHLJQL WLRQVZLWFKLVWXUQHGWRWKH³$&&´RU³/2&.´SRVLWLRQ ,IGHIURVWLQJRUGHIRJJLQJLVGHVLUHGZKHQ\RXUHVWDUW \RXUYHKLFOH\RXKDYHWRSXVKWKHVZLWFKWRWXUQLWRQ DJDLQ
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
UB3028BA
7RWXUQRQWKHGHIRJJHUSXVKWKHVZLWFK7RWXUQLWRII SXVKWKHVZLWFKDJDLQ 7KHLQGLFDWRUOLJKWORFDWHGRQWKHVZLWFKOLJKWVXSZKLOH WKHUHDUZLQGRZGHIRJJHULVRSHUDWLQJ
:LQGVKLHOGZLSHUGHLFHU LIHTXLSSHG
7RSUHYHQWWKHEDWWHU\IURPEHLQJGLVFKDUJHG GRQRWRSHUDWHWKHZLQGVKLHOGZLSHUGHLFHUFRQ WLQXRXVO\IRUDQ\ORQJHUWKDQQHFHVVDU\
UB3029BA
7KH ZLQGVKLHOG ZLSHU GHLFHU RSHUDWHV RQO\ ZKHQ WKH LJQLWLRQVZLWFKLVLQWKH³21´SRVLWLRQ
%HIRUHWXUQLQJRQWKHZLQGVKLHOGZLSHUGHLFHUUHPRYH DQ\ VQRZ IURP WKH ZLQGVKLHOG 7R WXUQ RQ WKH ZLQG
VKLHOGZLSHUGHLFHUSXVKWKHVZLWFK7KHLQGLFDWRUOLJKW ORFDWHG RQ WKH VZLWFK OLJKWV XS ZKLOH WKH ZLQGVKLHOG ZLSHUGHLFHULVRSHUDWLQJ 7KHZLQGVKLHOGZLSHUGHLFHUZLOODXWRPDWLFDOO\VKXWRII DIWHUDERXWPLQXWHV,IWKHZLSHUEODGHVKDYHEHHQ GHLFHGFRPSOHWHO\EHIRUHWKDWWLPHSXVKWKHVZLWFKWR WXUQLWRII,WDOVRWXUQVRIIZKHQWKHLJQLWLRQVZLWFKLV WXUQHG WR WKH ³$&&´ RU ³/2&.´ SRVLWLRQ ,I GHLFLQJ LV QRWFRPSOHWHZKHQ\RXUHVWDUW\RXUYHKLFOH\RXKDYH WRSXVKWKHVZLWFKWRWXUQWKHGHLFHURQDJDLQ
,QVWUXPHQWVDQGFRQWUROV
0LUURUV
$OZD\VFKHFNWKDWWKHLQVLGHDQGRXWVLGHPLUURUVDUH SURSHUO\DGMXVWHGEHIRUH\RXVWDUWGULYLQJ
,QVLGHPLUURU
HS3036BB
7DE
7KHLQVLGHPLUURUKDVDGD\DQGQLJKWSRVLWLRQ3XOOWKH WDEDWWKHERWWRPRIWKHPLUURUWRZDUG\RXIRUWKHQLJKW SRVLWLRQ3XVKLWDZD\IRUWKHGD\SRVLWLRQ7KHQLJKW SRVLWLRQUHGXFHVJODUHIURPKHDGOLJKWV
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
T $XWRGLPPLQJPLUURUFRPSDVV LIHTXLSSHG
HS3037BB
/HIWEXWWRQ $XWRGLPPLQJLQGLFDWRU 3KRWRVHQVRU 5LJKWEXWWRQ
7KH DXWRGLPPLQJ PLUURUFRPSDVV KDV DQ DQWLJODUH IHDWXUH ZKLFK DXWRPDWLFDOO\ UHGXFHV JODUH FRPLQJ IURP KHDGOLJKWV RI YHKLFOHV EHKLQG \RX ,W DOVR FRQ WDLQVDEXLOWLQFRPSDVV y %\SUHVVLQJDQGUHOHDVLQJWKHOHIWEXWWRQWKHDXWR PDWLFGLPPLQJIXQFWLRQLVWRJJOHGRQRURII:KHQWKH DXWRPDWLFGLPPLQJIXQFWLRQLVRQWKHDXWRGLPPLQJLQ GLFDWRUOLJKW JUHHQ ORFDWHGWRWKHULJKWRIWKHEXWWRQ
ZLOOLOOXPLQDWH y %\SUHVVLQJDQGUHOHDVLQJWKHULJKWEXWWRQWKHFRP SDVVGLVSOD\LVWRJJOHGRQRURII:KHQWKHFRPSDVVLV RQDQLOOXPLQDWHGFRPSDVVUHDGLQJZLOODSSHDULQWKH ORZHUSDUWRIWKHPLUURU
(YHQZLWKWKHPLUURULQDQWLJODUHPRGHWKHPLUURUVXU IDFHWXUQVEULJKWLIWKHWUDQVPLVVLRQLVVKLIWHGLQWRUH YHUVH7KLVLVWRHQVXUHJRRGUHDUZDUGYLVLELOLW\GXULQJ UHYHUVLQJ
V 3KRWRVHQVRUV
7KH PLUURU KDV D SKRWRVHQVRU DWWDFKHG RQ ERWK WKH IURQWDQGEDFNVLGHV,IWKHJODUHIURPWKHKHDGOLJKWVRI YHKLFOHVEHKLQG\RXVWULNHVWKHPLUURUWKHVHVHQVRUV
HS3038BA
GHWHFWLWDQGPDNHWKHUHIOHFWLRQVXUIDFHRIWKHPLUURU GLPPHU WR KHOS SUHYHQW \RX IURP EHLQJ EOLQGHG )RU WKLV UHDVRQ XVH FDUH QRW WR FRYHU WKH VHQVRUV ZLWK VWLFNHUV RU RWKHU VLPLODU LWHPV 3HULRGLFDOO\ ZLSH WKH VHQVRUVFOHDQXVLQJDSLHFHRIGU\VRIWFRWWRQFORWKRU DQDSSOLFDWRU
V &RPSDVVFDOLEUDWLRQ )RURSWLPXPFDOLEUDWLRQVZLWFKRIIDOOQRQHVVHQWLDO HOHFWULFDODFFHVVRULHV UHDUZLQGRZGHIRJJHUKHDWHU DLUFRQGLWLRQLQJV\VWHPVSRWOLJKWHWF DQGHQVXUHDOO GRRUVDUHVKXW 'ULYHWRDQRSHQOHYHODUHDDZD\IURPODUJHPHWDO OLFREMHFWVRUVWUXFWXUHVDQGPDNHFHUWDLQWKHLJQLWLRQ VZLWFKLVLQWKH³21´SRVLWLRQ 3UHVVDQGKROGWKHOHIWEXWWRQIRUVHFRQGVWKHQUH OHDVH DQG WKH FRPSDVV ZLOO HQWHU WKH FDOLEUDWLRQ PRGH³&$/´DQGGLUHFWLRQZLOOEHGLVSOD\HG 'ULYHVORZO\LQDFLUFOHXQWLO³&$/´GLVDSSHDUVIURP WKHGLVSOD\ DERXWWZRRUWKUHHFLUFOHV 7KHFRPSDVV LVQRZFDOLEUDWHG )XUWKHU FDOLEUDWLRQ PD\ EH QHFHVVDU\ VKRXOG RXW VLGHLQIOXHQFHVFDXVHWKHPLUURUWRUHDGLQDFFXUDWHO\
,QVWUXPHQWVDQGFRQWUROV
V &RPSDVV]RQHDGMXVWPHQW 7KH]RQHVHWWLQJLVIDFWRU\SUHVHWWR=RQH5HIHU WRWKH³&RPSDVVFDOLEUDWLRQ]RQH´PDSDWWKHHQGRI WKLVPDQXDOWRYHULI\WKDWWKHFRPSDVV]RQHVHWWLQJLV FRUUHFWIRU\RXUJHRJUDSKLFDOORFDWLRQ 3UHVVDQGKROGWKHULJKWEXWWRQIRUVHFRQGVWKHQ UHOHDVHDQGWKHZRUG³=21(´ZLOOEULHIO\DSSHDUDQG WKHQWKH]RQHQXPEHUZLOOEHGLVSOD\HG 3UHVVWKHULJKWKDQGEXWWRQUHSHDWHGO\WRF\FOHWKH GLVSOD\WKURXJKDOOSRVVLEOH]RQHVHWWLQJV6WRSF\FOLQJ ZKHQWKHFRUUHFW]RQHVHWWLQJIRU\RXUORFDWLRQLVGLV SOD\HG 5HOHDVLQJ WKH EXWWRQ IRU VHFRQGV ZLOO H[LW WKH ]RQHVHWWLQJPRGH
2XWVLGHPLUURUV
T &RQYH[PLUURU 3DVVHQJHUVLGH
2EMHFWVORRNVPDOOHULQDFRQYH[PLUURUDQGIDU WKHUDZD\WKDQZKHQYLHZHGLQDIODWPLUURU'R QRWXVHWKHFRQYH[PLUURUWRMXGJHWKHGLVWDQFH RI YHKLFOHV EHKLQG \RX ZKHQ FKDQJLQJ ODQHV 8VHWKHLQVLGHPLUURU RUJODQFHEDFNZDUGV WR GHWHUPLQH WKH DFWXDO VL]H DQG GLVWDQFH RI RE
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
MHFWVWKDW\RXYLHZLQFRQYH[PLUURU
T $GMXVWLQJPLUURUV
6HOHFWLRQVZLWFK 'LUHFWLRQFRQWUROVZLWFK
UB4004BB
OM-U2737
7RDGMXVWWKHPLUURUVE\KDQGSXVKZKHUHLQGLFDWHG E\WKHDUURZV
T 5HPRWHFRQWUROPLUURUVZLWFK 7KHUHPRWHFRQWUROPLUURUVRSHUDWHRQO\ZKHQWKHLJ QLWLRQVZLWFKLVLQWKH³21´RU³$&&´SRVLWLRQ
3UHVVHLWKHUHQGRIWKHVHOHFWLRQVZLWFK³/´IRUWKH OHIW³5´IRUWKHULJKW 0RYH WKH GLUHFWLRQ FRQWURO VZLWFK LQ WKH GLUHFWLRQ \RXZDQWWRPRYHWKHPLUURU 5HWXUQWKHVHOHFWLRQVZLWFKWRWKHQHXWUDOSRVLWLRQ WRSUHYHQWXQLQWHQWLRQDORSHUDWLRQ
7KHPLUURUVFDQDOVREHDGMXVWHGPDQXDOO\
T 2XWVLGHPLUURUGHIRJJHU LIHTXLSSHG
7RSUHYHQWWKHEDWWHU\IURPEHLQJGLVFKDUJHG GR QRW RSHUDWH WKH GHIRJJHU FRQWLQXRXVO\ IRU DQ\ORQJHUWKDQQHFHVVDU\
7KH RXWVLGH PLUURU GHIRJJHU RSHUDWHV RQO\ ZKHQ WKH LJQLWLRQVZLWFKLVLQWKH³21´RU³$&&´SRVLWLRQ
UB4004CB
,QGLFDWRUOLJKW
7R WXUQ RQ WKH RXWVLGH PLUURU GHIRJJHU SXVK WKH VZLWFKZKLOHWKHHQJLQHLVUXQQLQJ
,QVWUXPHQWVDQGFRQWUROV
7KHLQGLFDWRUOLJKWORFDWHGRQWKHVZLWFKZLOOFRPHRQ ZKHQWKHRXWVLGHPLUURUGHIRJJHUKHDWHULQRSHUDWLRQ
7RWXUQLWRIISXVKWKHVZLWFKDJDLQ
±&217,18('±
,QVWUXPHQWVDQGFRQWUROV
7LOWVWHHULQJZKHHO
'R QRW DGMXVW WKH VWHHULQJ ZKHHO WLOW SRVLWLRQ ZKLOH GULYLQJ 7KLV PD\ FDXVH ORVV RI YHKLFOH FRQWURODQGUHVXOWLQSHUVRQDOLQMXU\
SODFH 0DNH VXUH WKDW WKH VWHHULQJ ZKHHO LV VHFXUHO\ ORFNHGE\PRYLQJLWXSDQGGRZQ
HS3043BA
$GMXVWWKHVHDWSRVLWLRQ5HIHUWRWKH³)URQWVHDWV´ VHFWLRQ FKDSWHU 3XOOWKHWLOWORFNOHYHUGRZQ 0RYHWKHVWHHULQJZKHHOWRWKHGHVLUHGOHYHO 3XVK WKH OHYHU XS WR ORFN WKH VWHHULQJ ZKHHO LQ
+RUQ
,QVWUXPHQWVDQGFRQWUROV
7RVRXQGWKHKRUQSXVKWKHKRUQSDG
HS3044BA
±&217,18('±
&OLPDWHFRQWURO
9HQWLODWRU 'ULYHU¶VVLGHYHQWLODWRUV &HQWHUYHQWLODWRUV )URQWSDVVHQJHU¶VVLGHYHQWLODWRUV $LUIORZVHOHFWLRQ
0DQXDOKHDWLQJDQGDLUFRQGLWLRQLQJV\VWHP 2SHUDWLQJWLSVIRUKHDWHUDQGDLUFRQGLWLRQHU $LUILOWUDWLRQV\VWHP LIHTXLSSHG
&RQWUROSDQHO +HDWHURSHUDWLRQ $LUFRQGLWLRQHURSHUDWLRQ
&OLPDWHFRQWURO
&OLPDWHFRQWURO9HQWLODWRU
'ULYHU¶VVLGHYHQWLODWRUV
&HQWHUYHQWLODWRUV
UB4038BB
0RYHWKHWKXPEZKHHOXSDQGGRZQRUULJKWDQGOHIWWR DGMXVWWKHIORZGLUHFWLRQ
UB4039BA
2SHQ &ORVH
0RYHWKHWKXPEZKHHOXSDQGGRZQRUULJKWDQGOHIWWR DGMXVWWKHIORZGLUHFWLRQ
)URQWSDVVHQJHU¶VVLGHYHQWLODWRUV
UB4040BB
2SHQ &ORVH
0RYHWKHWKXPEZKHHOXSDQGGRZQRUULJKWDQGOHIWWR DGMXVWWKHIORZGLUHFWLRQ
&OLPDWHFRQWURO
±&217,18('±
&OLPDWHFRQWURO
$LUIORZVHOHFWLRQ
UB4036BA
0DQXDOKHDWLQJDQGDLUFRQGLWLRQLQJ V\VWHP
&RQWUROSDQHO
&OLPDWHFRQWURO
DLURXWOHWVRYHUDUDQJHIURPWKHEOXHDUHD FRRO WRUHG DUHD ZDUP
T )DQVSHHGFRQWUROGLDO 7KH IDQ RSHUDWHV RQO\ ZKHQ WKH LJQLWLRQ VZLWFK LV WXUQHGWRWKH³21´SRVLWLRQ7KHIDQVSHHGFRQWUROGLDO LVXVHGWRVHOHFWIRXUIDQVSHHGV
T $LUIORZFRQWUROGLDO 7KLVGLDOKDVWKHIROORZLQJILYHSRVLWLRQV
$LUIORZVWKURXJKWKHLQVWUXPHQWSDQHORXWOHWV
$LU IORZV WKURXJK WKH LQVWUXPHQW SDQHO RXWOHWV
DQGWKHIRRWRXWOHWV
UB5004BC
$LU IORZV WKURXJK WKH IRRW RXWOHWV DQG VRPH
WKURXJKWKHZLQGVKLHOGGHIURVWHURXWOHWV
7HPSHUDWXUHFRQWUROGLDO )DQVSHHGFRQWUROGLDO $LUIORZFRQWUROGLDO $LUFRQGLWLRQHUEXWWRQ $LULQOHWVHOHFWLRQEXWWRQ 5HDUZLQGRZGHIRJJHUEXWWRQ 5HIHUWR³5HDUZLQGRZ
GHIRJJHUVZLWFK´LQFKDSWHU
T 7HPSHUDWXUHFRQWUROGLDO 7KLVGLDOUHJXODWHVWKHWHPSHUDWXUHRIDLUIORZIURPWKH
$LUIORZVWKURXJKWKHZLQGVKLHOGGHIURVWHURXWOHWV
DQGIRRWRXWOHWV
$LUIORZVWKURXJKWKHZLQGVKLHOGGHIURVWHURXW
OHWV
±&217,18('±
&OLPDWHFRQWURO
´RU³
127( ´SR :KHQWKHGLDOLVSODFHGLQWKH³ VLWLRQ WKH DLU FRQGLWLRQHU FRPSUHVVRU RSHUDWHV DXWRPDWLFDOO\UHJDUGOHVVRIWKHSRVLWLRQRIWKHDLU FRQGLWLRQHUEXWWRQWRGHIRJWKHZLQGVKLHOGTXLFN O\$WWKHVDPHWLPHWKHDLULQOHWVHOHFWLRQLVDXWR PDWLFDOO\VHWWR³2XWVLGHDLU´PRGH ,Q WKLV VWDWH \RX FDQQRW VHOHFW ³UHFLUFXODWLRQ´ PRGHE\PDQXDOO\SUHVVLQJWKHDLULQOHWVHOHFWLRQ EXWWRQ
T $LUFRQGLWLRQHUEXWWRQ
3XVKWKHDLUFRQGLWLRQHUEXWWRQZKLOHWKHIDQLVLQRS HUDWLRQWRWXUQRQWKHDLUFRQGLWLRQHU7KHLQGLFDWRUOLJKW ZLOOFRPHRQ
3XVKLWDJDLQWRWXUQRIIWKHDLUFRQGLWLRQHU
T $LULQOHWVHOHFWLRQEXWWRQ
&RQWLQXHGRSHUDWLRQLQWKH21SRVLWLRQPD\IRJ XSWKHZLQGRZV6ZLWFKWRWKH2))SRVLWLRQDV VRRQDVWKHRXWVLGHGXVW\FRQGLWLRQFOHDUV
7KHDLUFRQGLWLRQHURSHUDWHVRQO\ZKHQWKHHQJLQHLV UXQQLQJ
UG4507BA
UB4041BA
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
&OLPDWHFRQWURO
+HDWHURSHUDWLRQ
T 'HIURVWLQJRUGHIRJJLQJWKHZLQGVKLHOG
UB5011AA
7RGLUHFWZDUPDLUWRWKHZLQGVKLHOGDQGIURQWGRRUZLQ GRZV 6HWWKHDLUIORZFRQWUROGLDOWR³ 7XUQWKHWHPSHUDWXUHFRQWUROGLDODOOWKHZD\WRWKH ULJKW 6HWWKHIDQVSHHGFRQWUROGLDOWRWKHKLJKHVWVSHHG
´
127( :DUPDLUDOVRFRPHVRXWIURPWKHULJKWDQGOHIWDLU RXWOHWV7RVWRSZDUPDLUIORZIURPWKHVHRXWOHWV WXUQ WKH FRUUHVSRQGLQJ WKXPEZKHHO WR WKH
±&217,18('±
&OLPDWHFRQWURO
³
´SRVLWLRQ
T +HDWLQJDQGGHIURVWLQJ
T +HDWLQJ
UB5012AA
7RGLUHFWZDUPDLUWRZDUGWKHIORRUDQGWKHZLQGVKLHOG 6HWWKHDLUIORZFRQWUROGLDOWR³ 6HWWKHWHPSHUDWXUHFRQWUROGLDOWRWKHGHVLUHGWHP SHUDWXUHOHYHO 6HWWKHIDQVSHHGFRQWUROGLDOWRWKHGHVLUHGVSHHG
´
127( :DUPDLUDOVRFRPHVRXWIURPWKHULJKWDQGOHIWDLU RXWOHWV7RVWRSZDUPDLUIORZIURPWKHVHRXWOHWV WXUQ WKH FRUUHVSRQGLQJ WKXPEZKHHO WR WKH ³
´SRVLWLRQ
UB5013AA
7RGLUHFWZDUPDLUWRZDUGWKHIORRU 6HWWKHDLULQOHWVHOHFWLRQEXWWRQWRWKH³2))´SRVL WLRQ 6HWWKHDLUIORZFRQWUROGLDOWR³ 6HWWKHWHPSHUDWXUHFRQWUROGLDOWRWKHGHVLUHGWHP SHUDWXUHOHYHO 6HWWKHIDQVSHHGFRQWUROGLDOWRWKHGHVLUHGVSHHG
´
127( :DUPDLUDOVRFRPHVRXWIURPWKHULJKWDQGOHIWDLU RXWOHWV7RVWRSZDUPDLUIORZIURPWKHVHRXWOHWV WXUQ WKH FRUUHVSRQGLQJ WKXPEZKHHO WR WKH ³
´SRVLWLRQ
T %LOHYHOKHDWLQJ
UB5014AA
7KLVVHWWLQJDOORZV\RXWRGLUHFWDLURIGLIIHUHQWWHPSHU DWXUHVIURPWKHLQVWUXPHQWSDQHODQGIRRWRXWOHWV7KH DLUIURPWKHIRRWRXWOHWVLVVOLJKWO\ZDUPHUWKDQIURPWKH LQVWUXPHQWSDQHORXWOHWV 6HWWKHDLULQOHWVHOHFWLRQEXWWRQWRWKH³2))´SRVL WLRQ 6HWWKHDLUIORZFRQWUROGLDOWR³ 6HWWKHWHPSHUDWXUHFRQWUROGLDOWRWKHGHVLUHGWHP SHUDWXUHOHYHO 6HWWKHIDQVSHHGFRQWUROGLDOWRWKHGHVLUHGVSHHG
´
6HWWLQJWKHWHPSHUDWXUHFRQWUROGLDOIXOO\WXUQHGWRWKH UHGDUHDRUEOXHDUHDGHFUHDVHVWKHWHPSHUDWXUHGLI
&OLPDWHFRQWURO
IHUHQFHEHWZHHQWKHDLUIURPWKHLQVWUXPHQWSDQHORXW OHWVDQGWKHDLUIURPWKHIRRWRXWOHWV
T 9HQWLODWLRQ
&RQWLQXHGRSHUDWLRQLQWKH³21´SRVLWLRQPD\ IRJXSWKHZLQGRZV6ZLWFKWRWKH³2))´SRVL WLRQ DV VRRQ DV WKH RXWVLGH GXVW\ FRQGLWLRQ FOHDUV
7RIRUFHRXWVLGHDLUWKURXJKWKHLQVWUXPHQWSDQHORXW OHWV
UB5015AA
±&217,18('±
&OLPDWHFRQWURO
6HWWKHDLULQOHWVHOHFWLRQEXWWRQWRWKH³2))´SRVL WLRQ 6HWWKHDLUIORZFRQWUROGLDOWR³ 6HWWKHWHPSHUDWXUHFRQWUROGLDODOOWKHZD\OHIW 6HWWKHIDQVSHHGFRQWUROGLDOWRWKHGHVLUHGVSHHG
´
:KHQGULYLQJRQDGXVW\URDGVHWWKHDLULQOHWFRQWURO EXWWRQWRWKH³21´SRVLWLRQ
$LUFRQGLWLRQHURSHUDWLRQ
T &RROLQJRUGHKXPLGLI\LQJ
FRPSDUWPHQWSHUIRUPLQJWKHIROORZLQJVWHSVZLOODOORZ DLUWRIORZWKURXJKWKHLQVWUXPHQWSDQHORXWOHWV 6HWWKHDLULQOHWVHOHFWLRQEXWWRQWRWKH³2))´SRVL WLRQ 6HWWKHDLUIORZFRQWUROGLDOWR³ 6HWWKHDLUFRQGLWLRQHUEXWWRQWRWKH³21´SRVLWLRQ 6HWWKHWHPSHUDWXUHFRQWUROGLDOWRWKHEOXHDUHD 6HWWKHIDQVSHHGFRQWUROGLDODWWKHGHVLUHGVSHHG
´
T 'HIURVWLQJRUGHIRJJLQJ
UB5016BB
21SRVLWLRQ
21SRVLWLRQ
)RU FRROLQJ DQG GHKXPLGLILFDWLRQ RI WKH SDVVHQJHU
7RGLUHFWZDUPDLUWRWKHZLQGVKLHOGDQGIURQWGRRUZLQ GRZV 6HWWKHDLURXWOHWFRQWUROGLDOWR³
´
UB5011BB
6HWWKHWHPSHUDWXUHFRQWUROGLDOWRWKHUHGDUHD 6HWWKHIDQVSHHGFRQWUROGLDODWWKHKLJKHVWVSHHG
2SHUDWLQJWLSVIRUKHDWHUDQGDLUFRQ GLWLRQHU
T &OHDQLQJYHQWLODWRUJULOOH
&OLPDWHFRQWURO
UB4037BA
$OZD\V NHHS WKH IURQW YHQWLODWRU LQOHW JULOOH IUHH RI VQRZOHDYHVRURWKHUREVWUXFWLRQVWRHQVXUHHIILFLHQW KHDWLQJDQGGHIURVWLQJ6LQFHWKHFRQGHQVHULVORFDWHG LQIURQWRIWKHUDGLDWRUWKLVDUHDVKRXOGEHNHSWFOHDQ EHFDXVHFRROLQJSHUIRUPDQFHLVLPSDLUHGE\DQ\DF FXPXODWLRQRILQVHFWVDQGOHDYHVRQWKHFRQGHQVHU
T (IILFLHQWFRROLQJDIWHUSDUNLQJLQGLUHFWVXQOLJKW $IWHUSDUNLQJLQGLUHFWVXQOLJKWGULYHZLWKWKHZLQGRZV
±&217,18('±
T $LUFRQGLWLRQHUFRPSUHVVRUVKXWRIIZKHQHQ
JLQHLVKHDYLO\ORDGHG
7RLPSURYHDFFHOHUDWLRQDQGJDVPLOHDJHWKHDLUFRQ GLWLRQHUFRPSUHVVRULVGHVLJQHGWRWHPSRUDULO\VKXWRII GXULQJDLUFRQGLWLRQHURSHUDWLRQZKHQHYHUWKHDFFHOHU DWRULVIXOO\GHSUHVVHGVXFKDVGXULQJUDSLGDFFHUHOD WLRQRUZKHQGULYLQJRQDVWHHSXSJUDGH
T 5HIULJHUDQWIRU\RXUFOLPDWHFRQWUROV\VWHP
&OLPDWHFRQWURO
RSHQIRUDIHZPLQXWHVWRDOORZRXWVLGHDLUWRFLUFXODWH LQWRWKHKHDWHGLQWHULRU7KLVUHVXOWVLQTXLFNHUFRROLQJ E\WKHDLUFRQGLWLRQHU.HHSWKHZLQGRZVFORVHGGXULQJ WKHRSHUDWLRQRIWKHDLUFRQGLWLRQHUIRUPD[LPXPFRRO LQJHIILFLHQF\
T /XEULFDWLRQRLOFLUFXODWLRQLQWKHUHIULJHUDQWFLU
FXLW
2SHUDWH WKH DLU FRQGLWLRQHU FRPSUHVVRU DW D ORZ HQ JLQHVSHHG DWLGOHRUORZGULYLQJVSHHGV DIHZPLQ XWHVHDFKPRQWKGXULQJWKHRIIVHDVRQWRFLUFXODWHLWV RLO
T &KHFNLQJDLUFRQGLWLRQLQJV\VWHPEHIRUHVXP
PHUVHDVRQ
&KHFN WKH DLU FRQGLWLRQHU XQLW IRU UHIULJHUDQW OHDNV KRVH FRQGLWLRQV DQG SURSHU RSHUDWLRQ HDFK VSULQJ 7KLVFKHFNLVEHVWSHUIRUPHGE\\RXU68%$58GHDOHU
T &RROLQJDQGGHKXPLGLI\LQJLQKLJKKXPLGLW\
DQGORZWHPSHUDWXUHZHDWKHUFRQGLWLRQ
8QGHUFHUWDLQZHDWKHUFRQGLWLRQV KLJKUHODWLYHKXPLG LW\ ORZ WHPSHUDWXUHV HWF D VPDOO DPRXQW RI ZDWHU YDSRU HPLVVLRQ IURP WKH DLU RXWOHWV PD\ EH QRWLFHG 7KLV FRQGLWLRQ LV QRUPDO DQG GRHV QRW LQGLFDWH DQ\ SUREOHPZLWKWKHDLUFRQGLWLRQLQJV\VWHP
$LUILOWUDWLRQV\VWHP LIHTXLSSHG
,I \RXU YHKLFOH¶V DLU FRQGLWLRQLQJ V\VWHP LV HTXLSSHG ZLWKDRSWLRQDODLUILOWUDWLRQV\VWHPUHSODFHWKHILOWHUHO HPHQWDFFRUGLQJWRWKHUHSODFHPHQWVFKHGXOHVKRZQ EHORZ7KLVVFKHGXOHVKRXOGEHIROORZHGWRPDLQWDLQ WKH ILOWHU¶V GXVW FROOHFWLRQ DELOLW\ 8QGHU H[WUHPHO\ GXVW\ FRQGLWLRQV WKH ILOWHU VKRXOG EH UHSODFHG PRUH IUHTXHQWO\ +DYH \RXU ILOWHU FKHFNHG RU UHSODFHG E\ \RXU68%$58GHDOHU
5HSODFHPHQWVFKHGXOH
(YHU\PRQWKVRU PLOHV NP ZKLFKHY HUFRPHVILUVW
127( 7KHILOWHUFDQLQIOXHQFHWKHDLUFRQGLWLRQLQJKHDW LQJ DQG GHIURVWHU SHUIRUPDQFH LI QRW SURSHUO\ PDLQWDLQHG
&OLPDWHFRQWURO
±&217,18('±
$XGLR
$QWHQQDV\VWHP 3LOODUPRXQWHGDQWHQQD 5RRIPRXQWHGDQWHQQD )0UHFHSWLRQ ,QVWDOODWLRQRIDFFHVVRULHV $XGLRVHW 7\SH$DXGLRVHW 7\SH%DXGLRVHW ,QGDVK&'DXWRFKDQJHU
2SWLRQDODXGLRXQLW±LIHTXLSSHG $0)0UDGLRZLWK&'SOD\HU 5DGLRRSHUDWLRQ &RPSDFWGLVFSOD\HURSHUDWLRQ &'FKDQJHUFRQWURO ,IRSWLRQDOLQGDVK&'
FKDQJHULVFRQQHFWHG
7\SH%DXGLRVHW LIHTXLSSHG ,QGDVK&'DXWRFKDQJHU LIHTXLSSHG 3UHFDXWLRQVWRREVHUYHZKHQKDQGOLQJ
5DGLRRSHUDWLRQ %XLOWLQ&'FKDQJHURSHUDWLRQ
DFRPSDFWGLVF &'
$XGLR
$XGLR$QWHQQDV\VWHP
3LOODUPRXQWHGDQWHQQD
5RRIPRXQWHGDQWHQQD
3XOOWKHDQWHQQDRXWWRH[WHQGLWWRLWVIXOOOHQJWK
UB5070BA
UB5073BA
UB5074BA
6WDQGWKHURRIDQWHQQDXSIRUXVH
:KHQZRUNLQJRQWKHFDUJREHGEHFDUHIXOQRW WRJHWSRNHGLQWKHH\HE\WKHURRIDQWHQQD
127( y 'HWDFKWKHURRIDQWHQQDEHIRUHSXWWLQJWKHFDULQ DJDUDJHDQGEHIRUHZDVKLQJLWLQDQDXWRPDWLFFDU ZDVK y $IWHU GHWDFKLQJ WKH URRI DQWHQQD NHHS WKH PRXQWLQJKROHIUHHRIGLUWDQGGXVW,IDQ\GLUWRU GXVWVWLFNVWRWKHKROHUHPRYHLWEHIRUHDWWDFKLQJ WKHURRIDQWHQQD y :KHQ GHWDFKLQJ WKH URRI DQWHQQD JUDVS DQG WXUQWKHURRIDQWHQQDDWWKHEDVH y 7RDYRLGGDPDJLQJWKHURRIDQWHQQDEHFDUHIXO QRWWRRYHUWLJKWHQLWZKHQDWWDFKLQJLW y 5DGLRUHFHSWLRQLVQRWSRVVLEOHZLWKWKHURRIDQ WHQQDIROGHGGRZQ$OVRUHFHSWLRQGHWHULRUDWHVLI PHWDOOLFREMHFWVDUHSODFHGQHDUWKHURRIDQWHQQD
$XGLR
)0UHFHSWLRQ $OWKRXJK)0LVQRUPDOO\VWDWLFIUHHUHFHSWLRQFDQEH DIIHFWHGE\WKHVXUURXQGLQJDUHDDWPRVSKHULFFRQGL WLRQVVWDWLRQVWUHQJWKDQGWUDQVPLWWHUGLVWDQFH%XLOG LQJVRURWKHUREVWUXFWLRQVPD\FDXVHPRPHQWDU\VWDW LFIOXWWHURUVWDWLRQLQWHUIHUHQFH,IUHFHSWLRQFRQWLQXHV WREHXQVDWLVIDFWRU\VZLWFKWRDVWURQJHUVWDWLRQ
±&217,18('±
$XGLR
,QVWDOODWLRQRIDFFHVVRULHV
$XGLRVHW
$OZD\VFRQVXOW\RXU68%$58GHDOHUEHIRUHLQVWDOOLQJ D FLWL]HQ EDQG UDGLR RU RWKHU WUDQVPLWWLQJ GHYLFH LQ \RXUYHKLFOH6XFKGHYLFHVPD\FDXVHWKHHOHFWURQLF FRQWUROV\VWHPWRPDOIXQFWLRQLIWKH\DUHLQFRUUHFWO\LQ VWDOOHGRULIWKH\DUHQRWVXLWHGIRUWKHYHKLFOH
7\SH$DXGLRVHW
UB5066AA
y 5DGLRRSHUDWLRQ UHIHUWRSDJH y &' FRPSDFWGLVF SOD\HURSHUDWLRQ UHIHUWRSDJH y &'FKDQJHUFRQWURO UHIHUWRSDJH
7\SH%DXGLRVHW
,QGDVK&'DXWRFKDQJHU 2SWLRQDO
DXGLRXQLW±LIHTXLSSHG
$XGLR
y 5DGLRRSHUDWLRQ UHIHUWRSDJH y %XLOWLQ&'FKDQJHURSHUDWLRQ UHIHUWRSDJH
UB5075AA
y ,QVHUWLQJ DQG UHPRYLQJ D GLVF RU DOO GLVFV UHIHU WR SDJH
HS5011AA
±&217,18('±
$XGLR
$0)0UDGLRZLWK&'SOD\HU
7KHDXGLRVHWZLOORSHUDWHRQO\ZKHQWKHLJQLWLRQVZLWFKLVLQWKH³$&&´RU ³21´SRVLWLRQ
5DGLRRSHUDWLRQ
3RZHUVZLWFK9ROXPH7RQH
%DODQFH)DGHUFRQWUROGLDO
%$1'EXWWRQ 7XQLQJEXWWRQV 3UHVHWEXWWRQV $8',2EXWWRQ 6&$1EXWWRQ
(1)
(2)
(6)
(5)
(4)
(3)
UB5067BB
T 3RZHUVZLWFKDQGYROXPHEDVVWUHEOHIDGHU
EDODQFHFRQWURO
7KH³$8',2´EXWWRQ LV XVHG IRU VHOHFWLQJ WKHIRO ORZLQJFRQWUROPRGHV
$XGLR
V 3RZHUVZLWFKDQGYROXPHFRQWURO 3:592/ 7KHGLDO LVXVHGIRUERWKSRZHU 212)) DQGYRO XPHFRQWURO7KHUDGLRLVWXUQHG21DQG2))E\SXVK LQJWKHGLDODQGWKHYROXPHLVFRQWUROOHGE\WXUQLQJWKH GLDO
V 7RQHDQGEDODQFHFRQWURO $8',2 7KHYROXPHFRQWUROGLDO QRUPDOO\IXQFWLRQVDVDYRO XPH FRQWURO 7KLV GLDO EHFRPHV D FRQWURO IRU %DVV 7UHEOH)DGHURU%DODQFHZKHQ\RXVHOHFWWKHDSSUR SULDWHWRQHDQGEDODQFHFRQWUROPRGH &KRRVHGHVLUHGYROXPHOHYHOIRUHDFKPRGHE\WXUQLQJ WKHYROXPHFRQWUROGLDO7KHFRQWUROIXQFWLRQUHWXUQVWR YROXPHFRQWUROPRGHDIWHUDERXWVHFRQGV
7R FKDQJH FRQWURO PRGHV (DFK EULHI SUHVV RI WKH ³$8',2´EXWWRQ FKDQJHVFRQWUROPRGHVLQWKHIRO ORZLQJ VHTXHQFHVWDUWLQJIURP YROXPHFRQWURO PRGH :KHQWKHUDGLRLVILUVWWXUQHGRQWKHFRQWUROPRGHLV LQWKHYROXPHFRQWURO
Volume (VOL)
Bass (BAS)
Treble (TRE)
Balance (BAL) Fader (FAD)
±&217,18('±
$XGLR
'LVSOD\
&RQWUROPRGH
%DVVFRQWURO
7UHEOHFRQWURO
7XUQFRXQWHUFORFNZLVH
)RUOHVVEDVV
)RUOHVVWUHEOH
HS5014BA
7XUQFORFNZLVH
)RUPRUHEDVV
)RUPRUHWUHEOH
)DGHUFRQWURO
7RLQFUHDVHUHDUVSHDNHUYROXPHDQG
7RLQFUHDVHIURQWVSHDNHUYROXPHDQG
GHFUHDVHIURQWVSHDNHUYROXPH
GHFUHDVHUHDUVSHDNHUYROXPH
%DODQFHFRQWURO
7RLQFUHDVHOHIWVSHDNHUYROXPHDQG
7RLQFUHDVHULJKWVSHDNHUYROXPHDQG
GHFUHDVHULJKWVSHDNHUYROXPH
GHFUHDVHOHIWVSHDNHUYROXPH
9ROXPHFRQWURO
)RUOHVVYROXPH
)RUPRUHYROXPH
%$6
75(
)$'
%$/
92/
T :DYHEDQGVHOHFWLRQ
V )0$0VHOHFWLRQ 3XVKWKH³%$1'´EXWWRQ WRVHOHFW)0)0RU$0
UHFHSWLRQ7KHGLVSOD\LQGLFDWHVZKLFKRQHLVFXUUHQWO\ VHOHFWHGT 6WHUHRLQGLFDWRU 7KH VWHUHR LQGLFDWRU ³67´ ZLOO FRPH RQ ZKHQ DQ )0
VWHUHREURDGFDVWLVUHFHLYHGT 7XQLQJ 781(
V 0DQXDOWXQLQJ 781( 3UHVVWKHWXQLQJEXWWRQ PDUNHG³ ´WRLQFUHDVH WKH WXQLQJ IUHTXHQF\ DQG SUHVV WKH WXQLQJ EXWWRQ PDUNHG³ (DFKWLPHWKHEXWWRQLVSUHVVHGWKHIUHTXHQF\LQWHUYDO FDQEHFKDQJHGEHWZHHQN+]LQWKH$0PRGHDQG 0+]LQWKH)0PRGH
´WRGHFUHDVHLW
V 6HHNWXQLQJ ,IWKHWXQLQJEXWWRQ LVSUHVVHGIRUORQJHUWKDQKDOI RI D VHFRQG WKH UDGLR ZLOO EHJLQ WR DXWRPDWLFDOO\ VHDUFKIRUUHFHLYDEOHIUHTXHQFLHVDQGZLOOVWRSDWWKH ILUVW RQH IRXQG 7KLV IXQFWLRQ PD\ QRW EH DYDLODEOH KRZHYHUZKHQUDGLRVLJQDOVDUHZHDN,QVXFKDVLWX DWLRQSHUIRUPPDQXDOWXQLQJWRVHOHFWWKHGHVLUHGVWD WLRQ
$XGLR
V $XWRPDWLFWXQLQJ 6&$1 3UHVVWKH³6&$1´EXWWRQ WRFKDQJHWKHUDGLRWRWKH 6&$1PRGH,QWKLVPRGHWKHUDGLRVFDQVWKURXJKWKH UDGLREDQGXQWLODVWDWLRQLVIRXQG7KHUDGLRZLOOVWRS DWWKHVWDWLRQIRUILYHVHFRQGVZKLOHGLVSOD\LQJWKHIUH TXHQF\DIWHUZKLFKVFDQQLQJZLOOFRQWLQXHXQWLOWKHHQ WLUHEDQGKDVEHHQVFDQQHGIURPWKH ORZHQG WRWKH KLJKHQG 3UHVV WKH ³6&$1´ EXWWRQ DJDLQ WR FDQFHO WKH 6&$1
PRGHDQGWRVWRSRQDQ\GLVSOD\HGIUHTXHQF\ :KHQWKH³6&$1´EXWWRQLVSUHVVHGIRUDXWRPDWLFWXQ LQJ VWDWLRQV DUH VFDQQHG LQ WKH GLUHFWLRQ RI ORZ IUH TXHQFLHVWRKLJKIUHTXHQFLHVRQO\ $XWRPDWLFWXQLQJPD\QRWIXQFWLRQSURSHUO\LIWKHVWD WLRQUHFHSWLRQLVZHDNHQHGE\GLVWDQFHIURPWKHVWD WLRQRUSUR[LPLW\WRWDOOEXLOGLQJVDQGKLOOVT 6HOHFWLQJSUHVHWVWDWLRQV 3UHVHWWLQJ D VWDWLRQ ZLWK D ³SUHVHW EXWWRQ´ DOORZV \RXWRVHOHFWWKDWVWDWLRQLQDVLQJOHRSHUDWLRQ8SWR VL[$0)0DQG)0VWDWLRQVHDFKPD\EHSUHVHW
T +RZWRSUHVHWVWDWLRQV 3UHVVWKH³%$1'´EXWWRQ WRVHOHFW)0)0RU $0UHFHSWLRQ 3UHVVWKH³6&$1´EXWWRQRUWXQHWKHUDGLRPDQXDOO\ XQWLOWKHGHVLUHGVWDWLRQIUHTXHQF\LVGLVSOD\HG 3UHVV RQH RI WKH SUHVHW EXWWRQV IRU PRUH WKDQ ±&217,18('±
$XGLR
VHFRQGVWRVWRUHWKHIUHTXHQF\$WWKLVWLPHWKHUHZLOO PRPHQWDULO\EHQRVRXQGIURPWKHUDGLR,IWKHEXWWRQ LVSUHVVHGIRUOHVVWKDQVHFRQGVWKHSUHFHGLQJVH OHFWLRQZLOOUHPDLQLQPHPRU\
127( y ,IWKHFRQQHFWLRQEHWZHHQWKHUDGLRDQGEDWWHU\ LVEURNHQIRUDQ\UHDVRQVXFKDVYHKLFOHPDLQWH QDQFHRUUDGLRUHPRYDODOOVWDWLRQVVWRUHGLQWKH SUHVHWEXWWRQVDUHFOHDUHG,IWKLVRFFXUVLWLVQHF HVVDU\WRUHVHWWKHSUHVHWEXWWRQV y ,IDPRELOHWHOHSKRQHLVSODFHGQHDUWKHUDGLRLW PD\FDXVHWKHUDGLRWRHPLWQRLVHZKHQLWUHFHLYHV FDOOV7KLVQRLVHGRHVQRWLQGLFDWHDUDGLRIDXOW
&RPSDFWGLVFSOD\HURSHUDWLRQ
$XGLR
'LVFVORW &'EXWWRQ (MHFWEXWWRQ )DVWIRUZDUGDQGWUDFNXSEXWWRQ )DVWUHYHUVHDQGWUDFNGRZQ
(7)
(8)
(9)
EXWWRQ
5DQGRPEXWWRQ 5HSHDWEXWWRQ 6FDQEXWWRQ 3:5 SRZHU VZLWFK
(14) (15)
(13)
(12)
(11)
(10)
UB5067CB
±&217,18('±
$XGLR
T 7RSOD\EDFNDFRPSDFWGLVF
GLVF
V :KHQ&'LVQRWLQWKHSOD\HU +ROGDGLVFZLWKDILQJHULQWKHFHQWHUKROHZKLOHJULS SLQJ WKHHGJHRIWKHGLVF WKHQLQVHUW LW LQ WR WKH VORW ZLWKWKHODEHOVLGHXS DQGWKHSOD\HUZLOODXWRPDWLFDO O\SXOOWKHGLVFLQWRSRVLWLRQ $FPLQFK&'PD\DOVREHXVHGZLWKRXWDQ\DGDSW HU
127( y '2127,16(577:2',6&6,1727+(',6&,1 6(57,216/27$7$7,0( y %H VXUH WR DOZD\V LQVHUW D GLVF ZLWK WKH ODEHO VLGH XS ,I D GLVF LV LQVHUWHG ZLWK WKH ODEHO VLGH GRZQLWPLJKWEHHMHFWHGRUWKHSOD\HUPLJKWVKXW RII y $IWHUWKHODVWVRQJILQLVKHVWKHSOD\HUZLOODXWR PDWLFDOO\ UHWXUQ WR WUDFN WKH ILUVW VRQJ RQ WKH GLVF
V :KHQ&'LVLQWKHSOD\HU :KHQWKH³&'´EXWWRQ LVSUHVVHGWKHSOD\HUZLOO VWDUWSOD\EDFN
127( $IWHU WKH ODVW VRQJ ILQLVKHV WKH SOD\HU ZLOO DXWR PDWLFDOO\ UHWXUQ WR WUDFN WKH ILUVW VRQJ RQ WKH
T 7RVWRSSOD\EDFNRID&' :KHQWKH³3:5´EXWWRQ LVSUHVVHGGXULQJSOD\ EDFNRID&'WKH&'VWRSVSOD\LQJWHPSRUDULO\7ROHW WKH&'UHVXPHSOD\LQJSUHVVWKHEXWWRQDJDLQ
T 7RVHOHFWDVRQJIURPLWVEHJLQQLQJ
V )RUZDUGGLUHFWLRQ %ULHIO\SUHVVWKH³ ´EXWWRQ WRVNLSWRWKHEH JLQQLQJ RI WKH QH[W WUDFN (DFK WLPH WKH EXWWRQ LV SUHVVHGWKHLQGLFDWHGWUDFNQXPEHUZLOOLQFUHDVH
V %DFNZDUGGLUHFWLRQ %ULHIO\SUHVVWKH³ ´EXWWRQ WRVNLSWRWKHEH JLQQLQJ RI WKH FXUUHQW WUDFN (DFK WLPH WKH EXWWRQ LV SUHVVHGWKHLQGLFDWHGWUDFNQXPEHUZLOOGHFUHDVH
T )DVWIRUZDUGLQJDQGIDVWUHYHUVH
V )DVWIRUZDUG 3UHVV WKH ³ WKDQVHFRQGWRIDVWIRUZDUGWKHGLVF 5HOHDVHWKHEXWWRQWRVWRSIDVWIRUZDUGLQJ
´ EXWWRQ FRQWLQXRXVO\ IRU PRUH
V )DVWUHYHUVH 3UHVV WKH ³ WKDQVHFRQGWRIDVWUHYHUVHWKHGLVF
´ EXWWRQ FRQWLQXRXVO\ IRU PRUH
5HOHDVHWKHEXWWRQWRVWRSIDVWUHYHUVH
T 5HSHDWSOD\EDFN 8VH WKLV WR SOD\ D FHUWDLQ WUDFN UHSHDWHGO\ 'XULQJ SOD\EDFNSUHVVWKH³537´EXWWRQ DQGUHOHDVHLWLQ OHVVWKDQVHFRQGV7KH³537´LQGLFDWRUZLOOFRPHRQ DQG WKH VRQJ ZLOO EH SOD\HG FRQWLQXRXVO\ 7R FDQFHO WKH UHSHDW PRGH SUHVV WKH EXWWRQ DJDLQ 7KHQ WKH ³537´LQGLFDWRUJRHVRXWDQGQRUPDOSOD\EDFNPRGH LVUHVWRUHG
T 5DQGRPSOD\EDFN 8VHWKLVWRSOD\WKHWUDFNVRQWKHGLVFLQUDQGRPRUGHU 'XULQJ SOD\EDFN SUHVV WKH ³5$1'´ EXWWRQ DQG KROGLWLQIRUPRUHWKDQVHFRQGV7KH³5$1'´LQGLFD WRU ZLOO FRPH RQ DQG DOO VRQJV RQ WKH GLVF ZLOO EH SOD\HGLQDUDQGRPRUGHU 7RFDQFHOWKHUDQGRPPRGHSUHVVWKHEXWWRQDJDLQ 7KHQWKH³5$1'´LQGLFDWRUJRHVRXWDQGQRUPDOSOD\ EDFNPRGHLVUHVWRUHG
T 6FDQ 3UHVV WKH ³6&$1´ EXWWRQ DQG UHOHDVH LW LQ OHVV WKDQVHFRQGVDQG\RXFDQKHDUWKHILUVWVHFRQGV RI HDFK WUDFN WR VHDFK IRU WKH GHVLUHG SURJUDP 7R FRQWLQXH OLVWHQLQJ WR WKH SURJUDP SUHVV WKH ³6&$1´ EXWWRQ DJDLQ $IWHU DOO WUDFNV RQ WKH GLVF KDV EHHQ VFDQQHGQRUPDOSOD\EDFNPRGHLVUHVWRUHG
$XGLR
T 7RHMHFWDGLVFIURPWKHSOD\HU :KHQDGLVFLVEHLQJSOD\HGEDFNRUZKHQDGLVFLVLQ WKHSOD\HUSUHVVWKHHMHFWEXWWRQ³ ´ 7KHGLVF ZLOOEHHMHFWHG 7KH GLVF PD\ EH UHPRYHG HYHQ ZKHQ WKH LJQLWLRQ VZLWFKLVLQWKH³/2&.´SRVLWLRQ
127( y $YRLGGULYLQJWKHYHKLFOHZLWKD&'VWLFNLQJRXW EHFDXVHYLEUDWLRQPLJKWPDNHLWIDOORXW y 7R SURWHFW WKH GLVF WKH GLVF LV DXWRPDWLFDOO\ ORDGHGLILWLVOHIWLQWKHHMHFWHGSRVLWLRQIRUPRUH WKDQDSSUR[LPDWHO\VHFRQGV $XWR5HORDG ,Q WKLVFDVHWKHGLVFLVQRWSOD\HG
&'FKDQJHUFRQWURO ,IRSWLRQDOLQGDVK
&'FKDQJHULVFRQQHFWHG
$QRSWLRQDO&'FKDQJHUFDQEHFRQQHFWHGWRWKLVDX GLRXQLW6HH\RXU68%$58GHDOHUIRUPRUHLQIRUPD WLRQ )RU SURFHGXUHV IRU ORDGLQJ DQG XQORDGLQJ &'V UHIHU WR ³,QGDVK &' DXWR FKDQJHU 2SWLRQDO DXGLR XQLW±LIHTXLSSHG ´LQWKLVFKDSWHU
±&217,18('±
&'EXWWRQ 7UDFNVHOHFWLRQEXWWRQV 5$1' 5DQGRP EXWWRQ 537 5HSHDW EXWWRQ 6&$1EXWWRQ
(16)
(20)
(19)
(18)
(17)
UB5067DB
$XGLR
T 7RVWDUWSOD\EDFN 3UHVV WKH ³&'´ EXWWRQ 7KH ³&'´ LQGLFDWRU ZLOO FRPHRQDQGWKHGLVFQXPEHUZLOODSSHDURQWKHGLV SOD\DQGWKH&'FKDQJHUZLOOVWDUWSOD\EDFN
127( y ,I WKH ³&'´ EXWWRQ LV SUHVVHG GXULQJ D UDGLR EURDGFDVW WKH &' FKDQJHU ZLOO LQWHUUXSW WKH EURDGFDVW y $W WKH HQG RI WKH GLVF SOD\EDFN DXWRPDWLFDOO\ FRQWLQXHVZLWKWKHQH[WGLVF y $IWHUSOD\EDFNRQWKHODVWGLVFILQLVKHVWKHSOD\ HUZLOODXWRPDWLFDOO\UHWXUQWRWKHILUVWGLVF y ,I\RXKDYHORDGHGIHZHUWKDQGLVFVDQ\PLVV LQJGLVFLVDXWRPDWLFDOO\VNLSSHG
T 6HOHFWLRQRIDGHVLUHGGLVF 'LVFVFDQQRWEHVHOHFWHGXVLQJWKHPDLQDXGLRXQLW7R VHOHFW D GLVF SUHVV RQH RI WKH ³'LVF VHOHFW´ EXWWRQV WKHVHDUHQXPEHUHGIURPWR RQWKH&'FKDQJHU XQLW7KHGLVFZLOOEHJLQWRSOD\
T 7RVHOHFWDVRQJIURPLWVEHJLQQLQJ %ULHIO\SUHVVWKH³ JLQQLQJRIWKHQH[WWUDFNDQGEULHIO\SUHVVWKH³ EXWWRQWRVNLSWRWKHEHJLQQLQJRIWKHFXUUHQWWUDFN
´EXWWRQ WRVNLSWRWKHEH ´
$XGLR
´ EXWWRQ FRQWLQXRXVO\ IRU PRUH
T )DVWIRUZDUGLQJDQGIDVWUHYHUVH 3UHVV WKH ³ WKDQDKDOIVHFRQGWRIDVWIRUZDUGWKHGLVF 3UHVVWKH³ KDOIVHFRQGWRIDVWUHYHUVHWKHGLVF 5HOHDVHWKHEXWWRQWRVWRSIDVWIRUZDUGLQJRUIDVWUH YHUVH
´EXWWRQFRQWLQXRXVO\IRUPRUHWKDQD
T 5HSHDW 3UHVVWKH³537´EXWWRQ ZKLOHDVRQJLVSOD\LQJWR SOD\ WKH VRQJ UHSHDWHGO\ 7KH ³537´ LQGLFDWRU ZLOO FRPHRQDQGWKHVRQJZLOOEHSOD\HGFRQWLQXRXVO\7R FDQFHOWKHUHSHDWPRGHSUHVVWKHEXWWRQDJDLQ7KHQ WKH ³537´ LQGLFDWRU JRHV RXW DQG QRUPDO SOD\EDFN PRGHLVUHVWRUHG
T 5DQGRPSOD\EDFN 3UHVV WKH ³5$1'´ EXWWRQ ZKLOH D GLVF LV EHLQJ SOD\HGEDFNWRSOD\DOOVRQJVRQWKHGLVFLQDUDQGRP RUGHU 7KH ³5$1'´ LQGLFDWRU ZLOO FRPH RQ DQG DOO VRQJVRQWKHGLVFZLOOEHSOD\HGLQDUDQGRPRUGHU 7RFDQFHOWKHUDQGRPPRGHSUHVVWKHEXWWRQDJDLQ 7KHQWKH³5$1'´LQGLFDWRUJRHVRXWDQGQRUPDOSOD\ EDFNPRGHLVUHVWRUHG
T 6FDQ DFRQYHQLHQWZD\WREHFRPHIDPLOLDUZLWK
DGLVF
3UHVVWKH³6&$1´EXWWRQ
±&217,18('±
$XGLR
± 7KHGLVSOD\VKRZV³6&$1´DQGWKHWUDFNQXPEHU EHLQJVFDQQHG ±
3UHVV WKH ³6&$1´ EXWWRQ DJDLQ ZKHQ \RX KHDU D WUDFN\RXOLNH
± 1RUPDOSOD\EDFNUHVXPHV
T 7RVWRSSOD\EDFN 7RVWRSSOD\EDFNDQGVZLWFKRYHUWRWKHUDGLRPRGH SUHVVWKH³%$1'´EXWWRQ
7\SH%DXGLRVHW LIHTXLSSHG
7KHUDGLRZLOORSHUDWHRQO\ZKHQWKHLJQLWLRQVZLWFKLVLQWKH³$&&´RU³21´ SRVLWLRQ
5DGLRRSHUDWLRQ
(1)
(2)
(3)
(4)
(5)
$XGLR
3RZHUVZLWFK9ROXPHFRQWURO %DVV0LGGOH7UHEOHFRQWURODQG )DGHU%DODQFHFRQWUROGLDO
$8',2 DXGLRPRGH EXWWRQ )DGHU%DODQFHVHOHFWLRQEXWWRQ )0EXWWRQ $0EXWWRQ 3UHVHWEXWWRQV 7XQLQJEXWWRQV 6&$1EXWWRQ
(8)
(7)
(6)
UB5072BB
±&217,18('±
$XGLR
T 3RZHUVZLWFKDQGYROXPHEDVVWUHEOHIDGHU
EDODQFHFRQWURO 3:592/
7KHGLDO LVXVHGIRUERWKSRZHU 212)) DQGYRO XPHFRQWURO7KHUDGLRLVWXUQHG21DQG2))E\SXVK LQJWKHGLDODQGWKHYROXPHLVFRQWUROOHGE\WXUQLQJWKH GLDO
7KLVGLDOLVXVHGIRUEDVVPLGGOHWUHEOHFRQWUROVZKHQ WKH³$8',2´EXWWRQ LVLQWKHGHSUHVVHGSRVLWLRQ,W LVDOVRXVHGIRUIDGHUEDODQFHFRQWUROVZKHQWKH³%$/´ EXWWRQ LVLQWKHGHSUHVVHGSRVLWLRQ
'LVSOD\
&RQWUROPRGH
$XGLR
%$66
%DVVFRQWURO
)RUOHVVEDVV
7XUQFRXQWHUFORFNZLVH
HS5014BA
7XUQFORFNZLVH
)RUPRUHEDVV
0,''/(
0LGGOHQRWHFRQWURO
)RUOHVVPLGGOHQRWH
)RUPRUHPLGGOHQRWH
75(%/(
7UHEOHFRQWURO
)RUOHVVWUHEOH
)RUPRUHWUHEOH
)$'(5
)DGHUFRQWURO
7RLQFUHDVHUHDUVSHDNHUYROXPHDQG
7RLQFUHDVHIURQWVSHDNHUYROXPHDQG
GHFUHDVHIURQWVSHDNHUYROXPH
GHFUHDVHUHDUVSHDNHUYROXPH
%$/$1&(
%DODQFHFRQWURO
7RLQFUHDVHOHIWVSHDNHUYROXPHDQG
7RLQFUHDVHULJKWVSHDNHUYROXPHDQG
GHFUHDVHULJKWVSHDNHUYROXPH
GHFUHDVHOHIWVSHDNHUYROXPH
92/80(
9ROXPHFRQWURO
)RUOHVVYROXPH
)RUPRUHYROXPH
±&217,18('±
$XGLR
V 7RQHFRQWURO 7KH YROXPH FRQWURO GLDO QRUPDOO\ IXQFWLRQ DV YRO XPHFRQWURO7KHGLDOEHFRPHDFRQWUROIRU%DVV0LG GOH QRWH RU 7UHEOH ZKHQ \RX VHOHFW WKH DSSURSULDWH WRQHFRQWUROPRGH &KRRVHGHVLUHGOHYHOIRUHDFKPRGHE\WXUQLQJWKHYRO XPH FRQWURO GLDO 7KH FRQWURO IXQFWLRQ UHWXUQV WR YRO XPHFRQWUROPRGHDIWHUDERXWVHFRQGV
7R FKDQJH FRQWURO PRGHV (DFK EULHI SUHVV RI WKH ³$8',2´EXWWRQ FKDQJHVFRQWUROPRGHVLQWKHIRO ORZLQJ VHTXHQFH VWDUWLQJ IURP EDVV FRQWURO PRGH :KHQWKHUDGLRLVILUVWWXUQHGRQWKHFRQWUROPRGHLV LQWKHYROXPHFRQWURO
Bass (BASS)
Middle (MIDDLE)
Treble (TREBLE)
Volume (VOLUME)
V )DGHUDQGEDODQFHFRQWURO 7KH YROXPH FRQWURO GLDO QRUPDOO\ IXQFWLRQ DV YRO XPHFRQWURO7KHGLDOEHFRPHWKHFRQWUROVIRU)DGHURU %DODQFH ZKHQ \RX VHOHFW WKH DSSURSULDWH IDGHU DQG EDODQFHFRQWUROPRGH &KRRVHGHVLUHGVHWWLQJIRUHDFKPRGHE\WXUQLQJWKH YROXPHFRQWUROGLDO7KHFRQWUROIXQFWLRQUHWXUQVWRYRO XPHFRQWUROPRGHDIWHUDERXWVHFRQGV
7R FKDQJH FRQWURO PRGHV (DFK EULHI SUHVV RI WKH ³%$/´EXWWRQ FKDQJHVFRQWUROPRGHVLQWKHIROORZ LQJVHTXHQFHVWDUWLQJIURPIDGHUFRQWUROPRGH :KHQ WKHUDGLRLVWXUQHGRQWKHFRQWUROPRGHLVLQWKHYRO XPHFRQWURO
Fader (FADER)
Balance (BALANCE)
Volume (VOLUME)
V 'LVSOD\LOOXPLQDWLRQGLPQHVVFDQFHOODWLRQ
%5,*+7
´ RU ³
7KHEULJKWQHVVRIWKHUDGLRGLVSOD\GLPVZKHQWKHOLJKW VZLWFK LV LQ WKH ³ ´ SRVLWLRQV ,I WKLV PDNHVWKH GLVSOD\GLIILFXOWWRUHDGSUHVVWKHYROXPH GLDOIRUPRUHWKDQVHFRQGVWRUHWXUQWKHGLVSOD\WR RULJLQDOEULJKWQHVV 6XEVHTXHQWO\SUHVVLQJWKHYROXPHGLDODJDLQIRUPRUH WKDQVHFRQGVRULI\RXFDQVDIHO\GRVRWXUQLQJWKH OLJKW VZLWFK WR WKH 2)) SRVLWLRQ DQG EDFN WR WKH ³ ´ SRVLWLRQ PDNHV WKH UDGLR GLVSOD\ GLPDJDLQ
´ RU ³
T )0$0VHOHFWLRQEXWWRQ
V )0EXWWRQ 3UHVVWKH³)0´EXWWRQ IRU)0UHFHSWLRQ7KHUDGLR ZLOOWRJJOHEHWZHHQ)0DQG)0VHWWLQJVHDFKWLPH
WKH³)0´EXWWRQ LVVXEVHTXHQWO\SUHVVHG
V $0EXWWRQ 3UHVVWKH³$0´EXWWRQ IRU$0UHFHSWLRQ
T 6WHUHRLQGLFDWRU 7KH VWHUHR LQGLFDWRU ³67´ ZLOO FRPH RQ ZKHQ DQ )0
VWHUHREURDGFDVWLVUHFHLYHGT 0DQXDOWXQLQJ 781(
V 0DQXDOWXQLQJIRU$0DQG)0
3XVKWKHWXQLQJEXWWRQ PDUNHG³ ´WRLQFUHDVH WKH WXQLQJ IUHTXHQF\ DQG SUHVV WKH WXQLQJ EXWWRQ PDUNHG³ (DFKWLPHWKHEXWWRQLVSUHVVHGWKHIUHTXHQF\FKDQJ HV.+]LQWKH$0ZDYHEDQGDQG0+]LQWKH)0
ZDYHEDQG´WRGHFUHDVHLW
V 6HHNWXQLQJ ,IWKHWXQLQJEXWWRQ LVSUHVVHGIRUORQJHUWKDQKDOI RI D VHFRQG WKH UDGLR ZLOO EHJLQ WR DXWRPDWLFDOO\ VHDUFKIRUUHFHLYDEOHIUHTXHQFLHVDQGZLOOVWRSDWWKH ILUVW RQH IRXQG 7KLV IXQFWLRQ PD\ QRW EH DYDLODEOH KRZHYHUZKHQUDGLRVLJQDOVDUHZHDN,QVXFKDVLWX DWLRQSHUIRUPPDQXDOWXQLQJWRVHOHFWWKHGHVLUHGVWD WLRQ
$XGLR
T $XWRPDWLFWXQLQJ 6&$1 3UHVVWKH³6&$1´EXWWRQ WRFKDQJHWKHUDGLRWRWKH 6&$1PRGH,QWKLVPRGHWKHUDGLRVFDQVWKURXJKWKH UDGLREDQGXQWLODVWDWLRQLVIRXQG7KHUDGLRZLOOVWRS DWWKHVWDWLRQIRUILYHVHFRQGVZKLOHGLVSOD\LQJWKHIUH TXHQF\DIWHUZKLFKVFDQQLQJZLOOFRQWLQXHXQWLOWKHHQ WLUHEDQGKDVEHHQVFDQQHGIURPWKH ORZHQG WRWKH KLJKHQG 3UHVV WKH ³6&$1´ EXWWRQ DJDLQ WR FDQFHO WKH 6&$1
PRGHDQGWRVWRSRQDQ\GLVSOD\HGIUHTXHQF\ :KHQWKH³6&$1´EXWWRQLVSUHVVHGIRUDXWRPDWLFWXQ
