Bangladesh Labour Law 2006

9JG>JV4? ?
r;
AV6=
6G
6
J
9JG>JV4? ?r; J 6
O
O
O
(<0< :
O
O
O
O
O
O
O
*r&. (X<7 : *r<0=UT

O AGK{ K?V=J6J; 79/q6 9G 7VEJ"O
O AGJA;PBO
=t$>7 (X<7 : =)G7<
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
< @0>0 2$Y<,1>
%J N=L= ?/qJ9>LO
?rK; "V.= U?r.LK9:J" K?{J6K9?L J>O
K6VEJ" 7 7K=%E7O
AJK:qA 9KBO
AJK:qA 9 VE= 8=;O
AJK:qA 9 VE eb:qMKyO
?rK; U=K'J= 9G K*V *
J,q A=9=JBO
&MK*= 7K/O
9pKE/ &MK*= ;'M=L 74J6O
J' 9 =J!JO
7K/J6 9 =J!JO
K/7E U{V 9FA= &E ;JA 9G ;'M=L ".6JO
5J=J
9G
7VEJV"= U{V 9J5J K6V@5O
U> 8 S/ ?rK; "V.= {K/7P=V.= K5 J=O
U> 8 T/ ?rK; "V.= ;JJ= U=J>O
K/7E U{V U> 8 T/ ?rK; ". {K/7P=. 7J 9J= K5 J=L
B V96 6JO
;S/Np 'K6/ AMK95JO
&IJ*J O
&IJ*J T/ ?rK;V = 7M6H K6VEJ"O
%J N=L B V/ K,A%J'qO
A4J%=. 9G 4 7JK= U-V ?JKvbO
3
?JKvb= 7K/O
'K=;J6J AlV q K9V?@ K95J6O
9=!Jvb /pJK4 9p/L/ 6p:JV9 ;JK>
9AJ6O
?rK; /Tq %J N=L= 9AJ6O
?rK;V = 9A= "B.O
:K9@p /BK9> 7K=V?J5O
?rK;V = %PCJeb 7J 6J 7K=V?JV5= U;EJ4O
%J N=L= 7/pE6 7O
9JAv]J6 B V/ V_&4O
K:V<J" 7K/O
/Tq
?rK;V = %J N=L=
$E$>7 (X<7 : = G2<0 2Z=. =)G7<

O
O
O
O
O
O
O
O
O
O
O
K?
K V?J= K6VEJV" 9J5J K6V@5O
K? AGzJeb K/7E %NKy= 9pJ7JV= 9J5J K6V@5O
9EA AlV q K9V=J5O
A{;/J 7/pE6 7 O
,JyJ=L 7=L{J= '6p JV4? 74JV6= {;/JO
K/7E JV' K V?J= K6VEJV" 9J5J O
K976 <e7JK/= JV' K V?J= K6VEJ"O
K V?JV== ;q#f*JO
:P "V:q 9G 7JK6= 6LV% K V?JV== K6VEJ" K6V@5O
K V?JV== JV'= A;VE= U6JK*?O
K/7E U{V K? ?rK; K6VEJV" 9pK/z;O
$@&Y (X<7 : *r4B=$ 1X<# 4?=,(<
O
O
O
O
O
O
2
K/7E U{V ;KB>J ?rK;V = V;q K6VEJ" K6K@O

7APK/ >pJ. AMK95J 7JK= K5 J= 9G 74JV6= 4JKE/iO
7APK/ >pJ. AMK95J 7K=V?J5 AGzJeb 7K/O
7APK/ >pJ. AMK95J= 7K=;J.O
;KB>J= ;S/Pp= U{V 7APK/ >pJ. AMK95J 74J6O
K/7E U{V ;KB>J= %J N=L= 9AJV6 9J5JO
4
*g. (X<7 : \%<\LX0`< ,X,\L<

O
O
O
O
O
O
O
O
O
O
4x. (X<7 : \%<\LX \%<\LX =,=(
7K=vZJ= 7K=_&6g/JO
9JEM %>J%> /J7;JJO
5M>J 9JK> U5IJEJO
9'qp 74J3q 7AJ=.O
TK; J4rq =.O
K/K=y :LCO
JV>J= 9p9v]JO
7J6 =J= 7JK6O
7JE!J6J U7?J9 !J6JO
J9'q6J 9J| K7 4J6LO
O
O
O
O
O
O
O
O
O
O
3| (X<7 : =)0<*k<
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
K976 %J>6JO
4M#q*6J AlV q U6JK*? 74J6O
/ }K> K976 #*6J= U6JK*?O
K/7E 9pJK5 AlV q U6JK*?O
4P#q*6J 9J 9pJK5 AlV q /4Veb= K6V4q? 74JV6= {;/JO
6;M6J AG"VB= {;/JO
K/7E K97V4= U{V 7K=4?qV = {;/JO
K976 :96 9G <e7JK/ Al2V /3p 74J6O
K/7E JV' ;KB>J "V.= K6VEJV" 9J5J K6V@5O
5pJVE= 6M7P= K9K5 7.EV6= {;/JO
{. (X<7 : 1X<# .B1 ,X,\L<
:96 <e7JK/= K6=J7JO

K"g JV= U{V A/ q/J 9>l26O
<e7JK/ K#K=EJ =J!J O
%>;J6 <e7JK/= 7V= 9J K6 V* J'O
rJ K G K"EJ= 9G ?Ky A=9=JB K9K_&6g =J= 7e]JO
v2EGKzE <e7JK/O
6/N6 <e7JK/ J9S/ =JO
Uz6 9G 6pJ6p VJ>6 <e7JK/O
BVE 9G K>8*O
#P.qE;J6 <e7JK/O
U7AJ= 7pJf*O
U;V( KAKC 9G <J/JEJ/ 73O
K7* AJl AMC ;M! /pJK4O
K/K=y '6O
U%JV!= K6=J7JO
zK*7P.q <eJG? K6.qE 39J BJ= v]JEL/i 7=L{J= {;/JO
K976 U5IJEJ= K9=^V A/ q/J;P> 9p9v]JO
K9VJ= 9J 4JBp "pJA 5P>J /pJK4O
5
=)0<*k< 4UG Y =,G23 =,(<)
O
O
O
O
O
O
O
O
O
O
O
7J3K; K%K FAJ A=J;O

UA 8K* U= ,q 9M AG={.O
U5Y/ =. AMK95JO
pJKf*6O
K9?rJ; { /pJK4O
K? {O
%J 9J"JV6 K9V6J46 K?{J= AMV<J" AMK95JO
%J 9J"JV6 "SBJE6 AMK95JO
%J 9J"JV6 W46Kf46 7VEJ'6LE K'K6@7 /pJK4 7JK= AMK95JO
AG9J4 7 ?rK;V = '6p K%K FAJ 7K=%<qpJO
9J5p/J;P> "^7 9L;J %J>M =.O
),. (X<7 : .Y Q <

O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
W4K6 ;q#f*JO
K9?rJ; 9J JBJV== '6p K9=K/O
AJJKB ;q#f*JO
AJJKB &MK*O
{K/7P=. ;P> AJJKB &MK*O
;q A;VE= Al7AJ=.O
W6? 7J>JO
<J69JBV6 z;7MK/ ;q#f*J= 7= 9J5JO
K5 J> V;q= '6p K/K=y :J/JO
;KB>J ?rK;V = '6p ALK;/ ;q#f*JO
W/ %J N=L= 7= 9J5JO
7J 9EvZ ?rK;V = JV'= A;VE= U6JK*? 9G BJ= 7v\K/O
AC 7K=9B6 ?rK;V = '6p K9V?@ 9EAAL;JO
U6JK*? 9G U=K'JV== AKB/ ;q#f*J= K;> 3J JO
U4J J6 /pJK4 9O
W6K;K &MK*O
7LCJ &MK*O
;'M=L AB 9JFAK= &MK*O
FA9 &MK*O
&MK* 39J 9V= A;VE= ;'M=L KBAJ9 74J6O
'2. (X<7 : . ?0>
O
O
O
O
O
O
O
O
O
?=
O
O
O
<'2 (X<7: . ?0> F,<!Y

O
O
O
O
O
O
O
O
O
O
O
O
5<0 *=0G2<(
;'M=L= K9V?@ AGJO

;'M=L 7K=V?JV5= 4JKE/iO
;'M=L J> Kv]K= =.O
;'M=L 7K=V?JV5= A;EO
7%K>/ ;M4rJ 39J JV=L U6J* /pJK4 J=J ;'M=L 7K=V?J5O
;'M=L B V/ /q6V<J"p K9@EJK4O
/qV9p 6M7Kv]K/= '6p ;'M=L /q6 O
{K/ 9J K96K= '6p ;'M=L /q6O
UA9J 74JV6= '6p ;'M=L /q6O
7
'q 9J K"; J4JVE= '6p ;'M=L /q6O

;'M=L B V/ 6pJ6p /q6O
;S/ ?rK;V = 7K=V?JK5/ ;'M=L 7K=V?J5O
;'M=L B V/ /q6 9J ;'M=L K9>Vl2 7K=V?JV5= J=V. K/ 4J9LO
5J=J
= 5L6 4=!JVvb= U{V U J*q K8AO
;'M=L 7J B6 6J 39J ;'M=L K/q/ B EJV& =R7 ?rK; V4=
7V{ 4J9L J4JVE= '6p K* ;J 4=!JvbO
J7L>O
;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL 6p U J6 9pKy= AlK=
?/qJ5L6 UzJ O
K/7E U{V ;JK>V = K6 * B V/ 3q J4JEO
K6;g/; ;'M=L U9J,q 7K/JO

K/7E ?rK;V = '6p K6;g/; ;'M=L BJV== AM7JK=?O
K6;g/; ;'M=L BJ= U#[email protected] =J= {;/JO
AM7JK=? 7.EV6 K9V9%p K9@EO
K6;g/; ;'M=L BJV== 7<qJEzK; 7<JqV>J%6JO
AG9J47 ?rK; "V.= ;'M=L U9J,q "+6O
AG9J47 ?rK; "V.= '6p ;'M=L K65qJ=.O
AG9J47 ;'M=L U9JV,q= KAJeb 7 J?O
AG9J47 ;'M=L U9JV,q= eb9q/qL ;'M=L K65Jq=V.= {;/JO
?r; J4J>V/ 4=!JvbO
K6;g/; ;'M=L 7V/p ;JK>V = 7= 9?p 7J>6LEO
K6;g/; ;'M=L BJV== ; BJV= ;'M=L 74J6 K6K@O
t<'2 (X<7 : '? Y )< =)$ <0G#

O
O
O
O
O
4
G.0 )X 2Z=.G 0 `=$*B0#
{K/7P=. 74JV6= '6p ;JK>V = 4JKE/iO

{K/7P=V.= 7K=;J.O
;'M=L KBAJV9= 7K/O
7P6K9qV9%6JO
;JKA {K/7P=. U3J 3q J=J 7K=V?J5O
8
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
{K/7P=. 9f*6O
{K/7P=V.= BvbJeb= UzJ 9J 4JE9 =. K6K@O
U6JK*? 4J9LO
;J=J/m 4M#q*6J AlV q ;JK>V = K6 * B V/ K99SK/ />V9=
{;/JO
;J=J/m 4M#q*6J= K=V7J*qO
K%K FAJ 7=L{JO
%NKy= U{V {K/7P=.O
;JK>V = U4 K>EJ/i O
;JJ= 6JK9V = U{V K9V?@ K95J6O
{K/7P=. AlV q K99=.LO
4JE;MKy 9J >J#V9= %NKy 9JK/>O
K/7E 7?g ?r; J4J>V/ K6uK= '6p U7=.O
J<q5J=J= v]J6O
4=!JVvb= ?/qO
;J=J/m 4M#q*6J= U{V ?r; J4J>/ /Tq
K/K=y ';J />9
=J= {;/JO
%NKy U=K'Kr =.O
%NKy U=K'Kr K=V/ 9p3q/J= 8>O
J7L>O
J7LV>= KAJeb AJV7V{ K/7E 7K=V?J5 v]K"/ =.O
{K/7P=. KBAJV9 74 U J6 3q BvbJeb= =J AlV q 6p U J6
=JVr= AV 9p9v]J J<q = =J= '6p K9K5O
mG7<'2 (X<7 : F Z!
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
=)7) ,9 =2y 4U Y
O
O
O
O
O
?rK;V = K9V?@ AGJO

;JK>
?rK;V = U*r, K6E6O
U=K'Kr =V.= '6p 4=!JvbO
4=!JVvb= '6p 7VEJ'6LE K9@EJK4O
U=K'Kr =V.= '6p 7VEJ'6LE K9@EJK4O
U*r, K6EV6= A4Ap 9J ;q /qJ B EJ= V<J"p/JO
U=K'Kr T/ U*r, K6E6 /qS U=K'J= /pJK4 AG={.O
U=K'Kr =.O
9
7K/J67MV U*r, K6E6 U=K'Kr =.O

U9AJ;K= K9;J6 7K=9B6 7K/JV6 U*r, K6E6 U=K'Kr =.O
6JK9 "V.= U*r, K6E6 U=K'Kr =.O
U=K'Kr =V.= 4=!Jvb K6u6g 3J J JV> %J N=L= ?/qJ9>L
7K=9K/q/ 3JK V9O
A:J7K/
K/7E ;q /qJV 94>L =J <J V9 6JO
"+6/e 9G K69qJBL K;K*= K/7E 7K=9/qV6= U{V U6JK*?
74J6O
U=K'Kr =V.= 7/pE67O
U=K'Kr 9JK/> =.O
6M;K/ /pJK4= K9=^V J7L>O
U=K'Kr =. 9p/L/ U J6 U*r, K6EV6= J' %J>JV6J K6K@O
W/ A4Ap 7V4= 7= 9J5J O
U=K'Kr T/ U*r, K6EV6= AGK9K59 B EJO
;JK>V = 7V{ AF ?r; J%=.O
?rK;V = 7V{ AF ?r; J%=.O
@C<Ve= J V6= ALK;/ 7VEJ"O
K/7E U{V U4 EJ6L U;J ;J B V/ 9pJBK/O
%NKy= J<q =L =. U<J"p/J O
U*r, K6E6 U8,JV=?V6= U=K'Kr =.O
K99=.LO
U<Y3 4= @J K@ 7K/K6K5O
K/7E U{V U*r, K6E6 U8,JV=?6 U<Y3 4= @J K@ 7K/K6K5
KBAJV9 J' K=V9O
U% 8 O
G?"B. J=L K;K*O
G?"B. J=L K;K*= J'O
G?"B. J=L K;K*= A:JO
G?"B. J=L K;K*= AM7JK=? 9Jvb9JE6O
10
*g'2 (X<7 : F <U<)>0 .?)<+<7 2Z=.G 0 92 r5#

O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
$@'Y2 (X<7 : =,G0<( =)[=k 2Z. <'<1$ 2Z. <*>1 Z< ,?X)<1
< ) $ </Y(<0< $X<='
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
K? K9V=J5 J76O
K? K9V=J5 K6uKO
5;q#* > J *O
K? K9V=JV5= {JKebO
?r; J4J>V/ 4=!JvbO
?r; J4J>/O
7=J5 K9%JV== U{V ?r; J4J>V/= {;/J
J<qz;O
7=J5 K9%J= &JCJ 6p U J6 K9@VE ?r; J4J>V/= {;/J
J<qz;O
?r; J4J>V/= =JE /pJK4= K9=^V J7L>O
?r; J7L> *rJ 9Mp6J>O
4=!Jvb 9J J7LV>= 8=;O
;J;>JE 7{"V.= 7Kv]K/O
;J;>J= !=%O
K6uK /pJK4 JBJ= 7= 9?p 7J>6LE B V9O
K6uK /pJK4 9>9F = /JK=!O
J<q5J=J= =^ U?@O
J<q5J=J K6u6g 3J J JV> 5;q#* 9J > J V*= U6JK*? 'J=L=
7= 9J5J K6V@5O
?r; J4J>/
*rJ 9Mp6JV>= 5;q#* 9J > J * K6K@ =J=
{;/JO
U9 J 6L 5;q#* > J *O
J<q5J=J K6u6g 3J J JV> %J N=L= ?/qJ9>L 7K=9K/q/ 3JK V9O
K/7E 9pKy= K5 J= /pJK4 ={.O
7{"V.= 7K/K6K5/iO
K6uK U=JVE4JV4= 9pJ!pJO
11
5pJVE= 7VEJ"O
K9V?@ AGJO
G?"B. /BK9>
>pJ. /BK9> v]J76O
/BK9>VE= 9p9v]J76JO
4O
/3p />V9= {;/JO
K9V=J5 K6uK /pJK4O
{;/J 7q.O
G?"B. /BK9V>= K9K6VEJ"O
AMK95J 7JK= U<J"p/JO
G?"B. /BK9V>= 9p9BJ=O
>pJ. /BK9V>= 9p9BJ=O
U JlJ6LV 74 JK3q U=EJ/O
/BK9>VE= JE JE = B V/ U=BJ O
?rK; "V.= JE JE = B V/ U=BJ O
*rJK U9JV,q= 9v]J6
J'O
/BK9>VE= KBAJ9 K6=L{JO
/BK9>VE= 74 AMK95J 6pJ6p AMK95J= K/K=y B V9O
U;YAM;L JV' K6<My K?V= U{V K9V?@ K95J6O
JK5 K? AlK q/ J' V;q K6VEJK'/ U JlJ6L A;PBO
9JG>JV4? K9K6VEJ" V7qJV=?6 /pJK4= 7= G?"B. /BK9V>=
9p9v]J76J 7q.O
F3<62 (X<7 : ! 2Z=.
O
O
O
O
O
O
O
O
G#0 =)G7< =)7Pe# ,9 =)0<*k<
vZL; 7.EV6= {;/JO

, ?rK; 9p9v]J76J U9J,qO
U9JV,q= "+6O
U9JV,q= A:JO
U9JV,q= J<qJ9>LO
7V4J K;K*O
;q /qJ
;q%J=L K6VEJ"O
/BK9>O
12
O
O
O
JE 9pVE= K99=.LO
{;/J 7q.O
, ?rK; "V.= K6=J7J
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
/pJK4 Al2V K9V?@ K95J6O
4x'2 (X<7 : -=,3X $5=,1

O
O
O
O
O
O
O
O
O
O
U9A= J=L !JV/ 7K/JV6= ?rK; "V.= '6p :K9@p /BK9>O

%J 9J"J6 ?rK; :K9@p /BK9>O
%J 9J"J6 ?rK; :K9@p /BK9> *rJK U9J,qO
7?JA6 9pEO
%IJ4JO
{K/ J4JEO
:K9@p /BK9> VzJ V<J"pO
6p U J6 V'q= 7= %IJ4J 74J6 "JK5 J= 7J V9O
;'MK= 9J 6p U J6 AMV<J" AMK95J ;JK> ;J V/ 7JK=V96 6JO
AG9J47 ?rK; "V.= '6p :K9@p /BK9>O
{<'2 (X<7 : =2`<(>)$<A
O
O
O
O
O
O
O
O
O
5pJVE= 7VEJ"O
K9V?@ AGJO
K7{LE 7V4J K;K*O
;JK>V = 9J5p 9J5 /JO
JE = /pJK4 B V/ ;MKyO
;JK> V 7V4? K6V4q?6J 74J6O
K?{J5L6 ?rK;V = 9J5p 9J5 /JO
7V9? 7K=4?q6 /pJK4= {;/JO
{;/J 7q.O
)=,92 (X<7 : *0<( 'u ,9 *s=$
O
O
O
O
O
5J=J
= 5L6 ?r; J4J>V/= JV4? ;J6p =J= 4O
K?
K V?J= K6VEJV"= '6p 4O
5J=J
>G#6 K=EJ K??M AlV q U J6 %NKy =J= 4O
;JK> /Tq %/N3q 5pJVE= K95J6 >G#V6= 4O
6MV;JK4/ 6M7Kv]K/= A;VE ;'M=L= K9K6;VE J' =J= 4O
13
5J=J
>G#6 =J= 4O
K6;g/; ;'M=L BJV== ; BJV= ;'M=L 74JV6= 4O
4P#q*6J= U6JK*? 74JV6 9p3q/J= 4O
AF ?r; J%=V.= 4O
K6uK /pJK4 :GV"= 4O
K6uK /pJK4 9Jvb9JEV6 9p3q/J= 4O
U9 J 6L 5;q#* 9J > J V*= 4O
U9 J 6L 5;q#* 9J > J V* 7V=JK%/ =J= 4O
K-V; /JV>= JV' G?"B. 9J 7V=J%6J= 4O
5J=J
>G#V6= 4O
:K9@p /BK9> 9G U*r, K6E6 /BK9V>= 3q J/mAJV/= 4O
V=K'Kr T/ U*r, K6EV6= ;q JV= 4O
U*r, K6EV6= W/ A4Ap 7V4= 4O
5J=J
6J ;J6J= 4O
K;3pJ A{;/J 7/pE6 7 9p9BJV== 4O
K;3pJ K99=. /pJK4= 4O
6pJE:JV9 /3p 7 JV?= 4O
?rK; "V.= AJ5J=. 7=JV5= 4O
9J5J 74JV6= 4O
6pJ6p 7=JV5= 4O
7P9q 4JJ= 7= 9K5q/ 4O
K976 7K=.K/ Al6g J 6 >G#V6= 4O
J4J>V/= K/7E JV4? 74JV6= {;/JO
9EA 7;JV.= 4JKE/iO
U JlJ6L /pJK4= 7=J5O
7=J5 K9%J=J3q "B.O
K:<MKy /J;JK4O
7=JV5= K=V7J*qO
;J;>J 7/pJBJ=O
14
=,92 (X<7 : *r2<4) *=0'2Y)

O
O
O
O
O
O
O
$X<='
O
O
O
O
O
O
O
O
O
?r; 7K=%J>
/pJK4O
75J6 7K=4?q
/pJK4O
75J6 7K=4?q
/pJK4= {;/J 4JKE/iO
%J 9J"J6 ?rK; :K9@p /BK9> K6Ee O
KBAJ9 K6=L{JO
K=V7J*q /pJK4O
'J/LE K? v2Jv]p K6=J7J J K>O
=,92 (X<7 : =,=,(
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
$+=41A
73; /8KA>
K/LE /8KA>
/T/LE /8KA>
%/N3q /8KA>
7; /8KA>
9pJBK/= {;/JO
J' =^ K=9J= 7PV9q 75J6 7K=4?q V U6JK*? 74J6O
6 AJ 6MV;J46 9G >J VA U=K'Kr =V.= K8AO
7K=4?qV = K/7E JV4V?= K9=^V JK7>O
U;YAM;L J=!J6JO
J V6= 5L6 J4JEV<J"p 3q J4JEO
AMV<J" AMK95J 74JV6= '6p U J6 3q J4JE =J <J V9 6JO
?rK; "V.= 4JKE/iO
;KB>JV4= 7K/ J%=. O
U6JK*? 'J=L K99=.L U7?O
K/7E 9pKy '6VA9 B V96O
A=> K9?nJVA T/ J' ;q ={.O
K/7E V{V %J N=L= 9/q;J6 ?/qJ9>L AG={.O
J 6 K9K5 9G 7K95JV6= AJ= AGV{7 74?q6O
K/7E K9V?@ 9v]JE 9JCL#= 9J JK6J= ;JK>V = 4JKE/iO
/3p AG"VB= {;/JO
K6VEJ" AlV q 6M;J6O
K/7E /3p 7 JV? 9J5J K6V@5O
K/7E K9@VE U"J76LE/J ={JO
U9JV,q= J<q5J=J ={.O
U9JV,q= U;EJ4 {;/J J<q5J=J /pJK4 AlV q AJ5J=. K95J6O
A; JV'= '6p A; ;'M=L 74J6O
15
AJ5J=. U{V U J*q K8AO

K/7E 7?g /pJK4 Al2V 9J5J K6V@5O
J V6= 7= 7K?{.O
U*r, K6EV6= K/7E ;q J K6K@O
6p J4J>V/= !K/EJV== 7= 9J5J K6V@5O
K9K5 7.EV6= {;/JO
K9K5 7K95J6 vZLV; 4V= K95J6O
=KB/ =. UB8J'/O
;P> 7J+ 9G GV='LV/ 7J+O
16
*r&. (X<7
,<91<G'2
*r<0=UT
G G
A 49=`x =2G0<)<. *Z,$Y) ,9 *rG7< Aoo

J 6 9JG>JV4? ?r;
J 6
6JV; K:KB/ B V9O
J 6 K9>Vl2 J<q = B V9O
J V6= 6p K:6g=R7 K &M K65qJK=/ 6J 3JK V>
J 6 A;"
9JG>JV4V? 7V<J'p B V9O
7 5J=J
<JBJ K &M 3J N 6J U 6
J 6 K6;gK>K!/
7K/J6A;PB 9J ?rK; "V.= 7= 7V<J'p B V9 6J <3J Hoo
A= J= 9J A= JV== 5L6v] U J6 K8A
! KAK K=K* K7Kf*G U7A
" A;=Jv J=!J6J
# AMv] {; 9S 4MHv] 7K/9L K/; 7K=/pyJ ;KB>J 9J K?
39J K959JV4= K%K FAJ </g 9J UA9J= '6p 7K=%JK>/ K e\ ;M6J8J
9J >JV:= >V{p 7K=%JK>/ 6VB
=R7 U J6 7K/J6
$ 7 J?p 74?q6LV/ BJ= 7VEJ'V6 v]JK7/ ;6 U4J J67J* 9J >
<JBJV/ 5M !M%=J U9%JV 6J %V>
% 7 J?p U;>JE 9J 9J'JV= 5;LqE 9J 4J/9p VV?p v]JK7/ U4J J67J*
9J >
& K?{J 7K?{. 9J "[email protected] 7K/J6
' ;M6J8J 9J >JV:= '6p 7K=%JK>/ 6VB ;6 &JJ9JA 9J U;A
( K/LE 5pJVE= 7VEJV"= U{V A= JV== ;JK> J6J5L6 9G
A= J= /qS A=JAK=:JV9 7K=%JK>/ ;6 U J6 U4J J6 9J K? 9J
9JK.'p 7K/J6 <JBJV/ ?rK; ". A= J=L ;q%J=L"V.= 7=
7V<J'p J%=. K9K5 J=J 7K=%JK>/ B6
) ;6 U J6 ?rK; <JBJ= K6VEJ" 9G %J N=L= ?/qJ9>L AGK95JV6=
6MV_&4
9J
= 5L6 7.L/ J 6 9J K9K5 J=J
7K=%JK>/ BE /V9 J4? VEJ4? 9G %/N4q? 5pJE 7VEJV"=
U{V K6;gK>K!/ 7K/JV6 K6<My U J6 ?rK;
K6V@V5= eb:Mqy
B V96 6J <3JHoo
U=> K9:J"
,J /J= U*K>V8J6 K9:J"
=$=0^ 49 X<
$EY*` $EY *r <=2$
,?(,<0
G]<,0
,<91<G'2 <$>7 494'

"< <
G2 <=2W)
G]<,0
AGA4 /Tq "SBL/ K6;gK>K!/ J 6K* U? JK?n6

U;J/JV9
VxJ9=
/JK=! =Jr7K/= AloK/ >J: K=EJV& 9G /J=J
J 6K* A9qAJ5J=V.=
9"K/= '6p 7 J?
=J <J V/V& H
4G)0 )9 < )
?rK; K6VEJ" ;JK>
?rK;V = ;V5p Al q A9qK6;g ;'M=L= BJ=
K65qJ=. ;'M=L 7K=V?J5 J<q JV> 4M#q*6J'K6/ J=V. ?rK;V = '!V;= 'V6p
{K/7P=. U*r, K6E6 "+6 K? K9V=J5 J76 K6vK ?rK;V = v2Jv]p
K6=J7J >pJ. %J N=L= 9v]J 7K=V9? 9G K?J5L6/J AGK? K9@EJK4
AlV q A > J V6= AGV?J56
AGB/ =. V 7.L/ J 6O
V<VB/N ?rK; K6VEJ" ;JK>
?rK;V = ;V5p Al q A9qK6;g ;'M=L= BJ=
K65qJ=. ;'M=L 7K=V?J5 J<q JV> 4M#q*6J'K6/ J=V. ?rK;V = '!V;= '6p
{K/7P=. U*r, K6E6 "+6 K? K9V=J5 J76 K6uK ?rK;V = v2Jv]p
K6=J7J >pJ. %J N=L= 9v]J 7K=V9? 9G K?J5L6/J AGK? K9@EJK4
AlV q A > J V6= AGV?J56 AGB/ =. V K95J6 =J A;L%L6
7VEJ'6LEH
VAVB/N
/4J=J K6;g=^7 J 6 =J B >H

17
18
AC
'673 K9:J"
".7P/q K9:J"
".v2Jv]p 7V Y?> K9:J"
9JG>JV4? A= J=L ;M4r.J>E
* 48J ! " # $ % &
' U/ K>K!/ U J6
7K/JV6 K6VEJK'/ U J6 ?rK; /V9 J4? VEJ4? 9G %/N4q?
5pJVE= 7VEJV"= U{V U J6 K9?nK94pJ>VE K6<My K?{ 9p/L/
6p U J6 ?rK;
K6V@V5= eb:Mqy B V96 6J
+ J4? VEJ4? 9G %/N4q? 5pJVE= 7VEJV"= U{ &JCJ 6p U J6
U{V U J6 6JK9
, U@JC? 5pJVE= 7VEJV"= U{ &JCJ 6p U J6 U{V A;M4r"J;L
'JBJ'
- ;6 U J6 TK@ !J;J= U<!JV6 AJ5J=./H 4? 'V6= ; ?rK;
J' V=6
. "SB 7K=%J=
9G
/ ;6 U J6 7K/J6 <JBJ BJ= ;JK> /Tq 7K=9JV== A4Ap"V.=
AJBJV/ BE 9G <JBJV/ ;'M=L= K9K6;VE U J6 ?rK;
K6<My 3JV 6 6JO
O 49f<4.B5 :oo K9@E 9J 7AV= 7K=7e]L U J6 K &M 6J 3JK V>
J V6
9A= 3q
J V6=
5J=J 6M<JEL U J6 ?rK;V = K6K4q
9EVA 76L/ B EJ= J=V. v2J:JK9 :JV9 %J N=L= 9AJ6O /V9
U J6 7K/JV6 9&= %J N=L 7P.q B EJ= U7K{V/ ?rK;V = Uv2_&JE
9A= "B.V
9A= 9K>EJ ".p B V9O
JGK?
{;/J 3q U< U{V {;/J v]JEL 7 TK/= ;6
{;/J <JBJ U< 4M#q*6J= J=V. /JBJ= {;/J ASK B EJV& /JBJ
#K*9J= A;E K/K6 U< JV' K6VEJK'/ K&V>6 /FAlV q /JBJ=
7J'q6 {;/J ;J EJ U4E 9G U< U{V {;/J v]JEL 7 TK/=
;6 {;/J <JBJ y A;VE K/K6 U< U< J' K=V/ 7JK=V/6
/JBJ= 7V/p K* AlV q /JBJ= 7J'q6 {;/J ;J EJ U4EH
/V9 ?/q 3JV U< 73; /8KAV> K>K!/ 7V/p '!; v]JEL
JGK? {;/J ASK V= 9K>EJ ".p B V9O
F7J46 7KzEJ 3q K6V;gJy UG =.
=G =. U5Y/ =. AlP.q 9J K6!MI/ =. "IJ* 9J U;JC 9f4L =.
39J 6p U J6:JV9 K6;qJ. 7KzEJE JV=J7 =.
W/> "pJA 7JK6 64q;J= ;E>J 39J 6p U J6 /=> J9'q6J
7Jl =J= 7KzEJ
?Ky 9J "pJA F7J46 BsJA 9SK =. 9J U7=. 7KzEJ
'JBJ' 9J U6Y <J6 K6;Jq. 7M6H K6;qJ. U;=J;/ AlP.q 9J K6!MI/ =.
9J :JV6= 7KzEJ
U>*J=V7A K>V3J"JK8 8V*JV"V:J= Kl *J= 8V*J VlJ'
8VA* 39J 6M=R7 U J6 7KzEJ J=J &J7J= J' 39J 9
9IJ5J = 7KzEJ <JBJ 9p9AJ KBAJV9 39J ;M6J8J= '6p 39J 6p
U J6 9p9AJ= J6M@K K9@E KBAJV9 7K=%JK>/ BEO
U J6 U*r, K6E6 AlV q ;q /qJ 3q BJ= K69qJBL K;K*=
U J6 A4Ap K e\ U J6 K6=L{ 9J J 6 7V4J BJ= eb:qMy
B V96 6JO
;q #f*J 3q JBJ= 9G K9?rJV;= '6p K9=K/ 9p/L/ U< A;VE
U J6 ?rK; J' =J= '6p ;JK>V = !K/EJ=J5L6 3JV 6O
;q=/ AJG9JK4 3q U J6 9pKy K<K6
'6 AJ9q{K.
AJG9JK4 9G K<K6 U J6 AG9J47 7K/JV6 9J /FAGzJeb JV'
y=RV7 K6VEJK'/ JV&6 9G U J6 AlJ4 AlJ4 LE U>!
AG9J4 AlJ4
7 AlJ4
K8%J= U>!
K=V7J*qJ=
AG9J44J/J K7 U*J= J*qMK6 AG9J4 K% "JB
pJK>"JK8
9G 7^8 =L,J= BJ= eb:Mqy B V96O
;q?J>J 3q U J6 9JCL#= 9J JK6J U<!JV6 U J6 K? 7KzEJ
%V>O
J=!J6J 3q ;6 U J6 #= 9JCL 9J JK6J U<!JV6 9FAV= U J6
K46 AJ5J=./H 7JI% '6 9J /V/JK5 ?rK;
;q=/ 3JV 6 9G
BJ= UM 3JV K e\ U J6
!K6 BJ= eb:Mqy B V9 6JO
K V?J= 3q U%Y 9FA= 9EA 7P.q K=EJV&6 K e\ J+J= 9FA=
9EA 7P.q V=6 6J ;6 U J6 9pKyO
!K6 3q U J6 !66 U<!JV6 !K6' Al4 JB=V.= '6p 9J
20
6MAJV6= '6p J<q 7K=%J>6J =J BE 9G !K6V/ 9J BJ=

AK6g V* :P "V:q 9J :P 7SV /4AGzJeb A > J' <e7JK/ *rJ;
73 9G AJ K,G
BJ= eb:Pqy B V9H
/V9 ?/q 3JV U< ;6 U J6 9JCL #= 9J JK6J= G? BJ=
eb:Mqy B V9 6J <JBJV/ U J6 F7J46 7KzEJ %J>M JV& <K4 6J
y=R7 7KzEJ AGK? !K6' 74JV3q= ; 9J6J 9J= '6p 9J BJ
UCrKAG K=9J= '6p BEO
"J%N K* 3q U J6 ?rK;V = 7K/ 7P.q 9&= %J N=L 39J &E ;JVA=
K/K=y A;VE= %J N=L= '6p /JBJ= A9qV?@ 7J ;'M=L BJV=
6Pp6/;
K4V6= ;'M=L <JBJ y ?rK; V /JBJ= %J N=L= 9AJV6
7V4EO
BJ
J V6= 5LV6 ?rK;V = K9K:6g:JV9 %J N=L= 9AJ6'K6/
J=V. ;JK>
/qS 7V4E {K/7P=. 9J U6JK*V?= 7K=9V/q 7V4E
;'M=L 9J :J/J= K/K=y B V9O
%J 9J"J6 3q %J F7J4V6= '6p 9p9/ 9J 9p9BJV== K:V7/
U J6 'K; 9G %J J=!J6J BJ= eb:Pqy B V9O
&IJ*J 3q 7VEJ'6LE/J= J=V. ;JK> /Tq ?rK;V = %J N=L=
9AJ6O
'6 >pJ.;P> AJK:qA 3q
'6AJ5J=V.= '6p K94MpF "pJA W/> 9J 7JK6 F76g 7v\/ 9J
A=9=JB =.
! '6AJ5J=V.= '6p 7EHK6uZJ?6 9J v2Jv]p 9p9v]J
" BJA7J/J> 9G l2MV> AJK:qA
# K"g K69qJ76 AJK:qA
$ ,J /J= U*K>V8J6 AJK:qA
% U=> K9;J6 AC 9G U6Y 7K=9B6
& 9f4=
' U J6 7K/JV6= 7JBJ=J *B>4J=L J8 9G K6=J7J AJK:qA
( K| V'6 KA*J K>6 9G
) 9pJGK GO
*rJ 9Mp6J> 3q
J V6= 5L6 v]JK7/ ?r; J7L> *rJ 9Mp6J>O
*rJK;?6 <e7JK/ 3q U J6 U?8* %J J ,rJ; 7MK> 7MK>=
KAAV*; N7K>GA tJ% ,rJ K:G U9 39J 6p U J6 > J 9J
21
U Y?> <JBJ J=J U J6 7J ; ;M:JV== "K/ U J6 <e7JK/ 9J 7JVf*

U7=. 9J "B. =JV6J BEO
U*r, K6E6 3q VEJ4? 5pJVE= 5L6 "K+/ U=K'Kr T/
?rK; "V.= 9J ;JK> "V.= U*r, K6E6 9G U J6 U*r, K6E6
U8,JV=?6
BJ= eb:qMy B V9O
U*r,
K6E6 U8,JV=?6 3q VEJ4? 5pJVE= 5L6
U=K'Kr T/ U J6 U*r, K6E6 U8,JV=?6O
K,A%J'q 3q ?J=LK= 9J ;J6KA {;/J= J=V. 39J 9pJB/
:"g v2JVv]p= J=V. ;JK> /qS U J6 ?rK;V = %J N=L= 9AJ6O
K-V; /JV>= J' 3q U J6
4> ?rK;
/qS AG#9
_&J T/ 9G V?p;P> :JV9 v2J:JK9
F7J4V6= "K/ ?3
K=EJ U4 EJ 9G <JBJ U J6 <JKe ^K* 9J > J 9J <e7JK/
K9 > 9J :JKEJ <J EJ 9J ?Ky A=9=JVB= ^K* 9J 9p3q/J 9J
v2J:JK9 K'K6A7 9G > J= !M%=J <eJG? A=9=JVB= 9p3q/J=
J=V. 6J #V*O
K46 3q U:J= &E #K* J B V/ =^ K=EJ U J6 %K9h? #J
A;EO
U4 EJ6L J<qK9K5 3q U4 EJ6L J<qK9K5
AV6=
6G J 6 O
U4J J6 3q U J6 9JCL #= 9J JGK"6J <JBJ AlP.q 9J G?/H
U J6 ;J>J;J> 6"V4 9J 9JK V/ !M%=J 9J 7J J=L:JV9 K9Kz= '6p
9p9/ BE 39J U<!JV6 U J6 "JB V U J6 UA9J U4 EJ BE
9G y 9JCL #V== JK6JE B 9J 6p B
y 9p9AJ
9JK.'p AlV q ;P>/H 9p9/ BE =R7 7V/p
K8A :JJ=
{ }4J; #= 9J ;qv]> 9G A= J= /qS A= J=L U"V'V*
7J76 J=J
J V6= VV?p U#JK@/ 6p U J6 9JCL #= 9J
JK6J BJ= eb:qMy B V9O
5;q#* 3q U J6 7K/JV6 K6VEJK'/ 4> ?rK; /qS
V
;q 9 =. 9J J' K=V/ v2L TK/ 39J BJV/ K6VEJK'/ U J6
?rK; A;K /qS
;V/p= K:KV/ J' "B. K=V/ 9J J'
%J>J EJ <J V/ v2L TK/O
6JK9 3q U J6 A;M4r"J;L 'JBJV'= 6JK9 K e\ 'JBJV'= ;JJ=
BJ= eb:qMy 6VB6O
11
22
U J6 U*r, K6E6 AlVq K69qJBL K;K* 3q ;6 U J6

4> U>J
BJ U< 6JV;
K:KB/ B
6J U 6 <JBJ= 7=
K6EV6= "+6/e 6M<JEL BJ= 9p9v]J76J= :J= 6pvb JV&O
K6uK 3q U J6 AJK>AL J<q 5J=JE 76L/ K6uK 9G AJK>AL
J<q5J=J &JCJ ;JK>
9G ?rK;V = ;V5p AlJK4/ ;6 U J6
%MKy
BJ= eb:Mqy B V9 <JBJ K>K!/ BE 9G :E 7V{=
v2J{=<My BE 9G <JBJ= K7 ?r; 7K=%J>
9G AJK>VA= K6 *
U7=. =J BEO
U6Y 7K=9B6 AJK:qA 3q U6Y7V3 U6Y<JV6 :JCJE 9J V3q=
K9K6;VE <JL 9J ;J>J;J> 7K=9B6 AJK:qAO
U6Y<J6 3q U J6 <e %JK>/ U6Y<J6 <JBJ U6Y 7K=9BV6= '6p
9p9BJ= =J BE 9J 9p9BJ=V<J"p 9G U J6 *J" 9J 8tJ* 9G 9J'q
BJ= eb:Pqy B V9O
7?JAK6 ?rK; 3q ;6 U J6 9pKy K<K6 AJ9q{K. K:KV/
;q=/ AJG9JK4 9J AG9J47 &J7J!J6J ?rK; 9p/L/ U J6
AG9J47 7K/JV6 9J /FAGzJeb U J6 JV' UJ 3q U< U{V
7 JV== J' K4V6= K9K:6g A;VE 4M
9J /V/JK5 ?rK; 4> J=J AlJK4/ BE UA U{V y=R7 7V/p
A;EO
U J6 ;S/ 9pKy AlV q U7J@p 3q K6;gK>K!/ U AebJ6 K99JKB/ 6pJ 39J K959J ;J/J
9G
! AGK? ?rK;V = ;S/Np= A;E /JBJ= JVE= 7= AlP.q 9J
JGK? :JV9 K6:q=?L> B EJ= U{V U J6 vLBJ=J v2J;L K959J
;J/J 9J K7/J 6pJ <K4 K99JKB/ 6J9JK> J 9J K959J BE 6J9J>
J/J K99JKB/ 9J K959J :K"g K959J 7M 95M ;S/ 7MV= 6J9J>
U&V> ;S/ U;VE= 6J9J> AebJ6 <K4 /JBJ= K7/J 'LK9/ 6J 3JV 6
39J <K4 ;S/ ?rK;V = ;J/J 9J K7/J 'LK9/ 6J 3JV 6 /JBJ B V>
/JBJ= 4J4J 4J4L 9G K99JB 9KB:Pq/ U&V> 9G K99JB 9KB:Pq/
N;J=L 6pJO
7K/J6 3q U J6 U4J J6 9JK.'p 7K/J6 K? 7K/J6 39J
23
!
"
#
$
%
12
9JCL #= 9J JK6J U<!JV6 U J6 K? 7K=%J>6J= '6p ?rK; K6VEJ"

=J BEO
7K/J67M 3q
39J K9K:6g ;JK>V = 5L6 U J6 K6K4q
>J JE ;6 JK5 7K/J6 U<}K>V/
7 JV== 9J 5=V6=
K? 7K=%JK>/ BEO
7K95J6 3q
J V6= 5L6 7.L/ U J6 7K95J6O
7APK/ >pJ. 3q %/N3q 5pJVE= 5L6 U J6 ;KB>J ?rK; V
/JBJ= 7APK/ B EJ= J=V. 7V4E ;'M=LAB &MK*O
7J ;;M:J= 3q U J6 K6 U;J*= 9J 6pV J6 <e7JK/ <JBJ
?Ky F76g V= 9J ?Ky U<J"JEO
7J 9EvZ 3q J+J= 9FA= 9EA 7P.q K=EJV&6 ;6 U J6
9pKyO
U8Y'4J=L J<qK9K5 3q U8Y'4J=L J<qK9K5
AV6=
6G J 6 O
9 3q "JBV = UA9J U4 EJ= '6p 9J U J6 9p9AJ 7K=%J>6J
K=9J= '6p U!J>J 6J O
9=!Jvb 3q A4J%=V.= J=V. ;JK>
/qS U J6 ?rK;V =
%J N=L= 9AJ6O
9J"J6 3q U J6 >J J U<!JV6 =J9J= K8 %J /pJK4 F7J46
9G 39J AG={. =J BE 9G 7=L{J 9J "[email protected] !J;J= 9p/L/
4? '6 9J BJ= K5 ?rK; K6VEJ" J=L 7V/p TK@ !J;J= BJ=
eb:Pqy B V9O
9JK.'p 7K/J6 3q
;6 U J6 7K/J6 <JBJV/ K9J76
K;?6 9J 8= EJK,qG = 9p9AJ 7K=%J>6J =J BE 9J <JBJ K*
9JK.K'p V'L 9G K6;gK>K!/ 7K/J6 BJ= eb:qMy B V9
<3JH
U J6 J=!J6J 9J K? 9J 9JK.'p 7K/JV6= =K. K9:J"
;6 U J6 9pKy= K8A 7K/J6 K<K6 U J6 K? 9J 9JK.'p
7K/JV6= AKB/ AlJK4/ %NKy 9Jvb9JEV6= '6p ?rK; K6<My
V=6
U J6 U<Y3 U JlJ6L= U J6 K6*
U J6 9L;J U JlJ6L 9pJGK G U JlJ6L 9J 9pJG
U J6 4J>JV>= K8A
U J6 | V%
24
& U J6 tJ9 UBJV*> U=IVvbJ=J 9J !J9JV== #=

' U J6 KAV6;J 9J K3VE*J=
( A= J= /Tq A= J=L U"V'V* 7J76 J=J
J V6= VV?p
9JK.'p 7K/J6 9K>EJ U#JK@/ 6p U J6 7K/J6O
K9K5 3q
J V6= 5L6 7.L/ U J6 K9K5O
U9 J 6L 5;q#* 3q %/Nq4? 5pJVE= K95JV6= U!>J7 U#JK@/
=^ T/ 9J 'J=L T/ U J6 5;q#*O
U9 J 6L > J * 3q %/Nq4? 5pJVE= K95JV6= U!>J7
U#JK@/ =^ T/ 9J 'J=L T/ U J6 > J *O
;'M=L 3q *J JE 7 J? =J BE 9J <JE ;6 A > 7JK=?rK;
<JBJ %J N=L= ?/qJ9>L 7 J?p 9J Bp U<:JV9 3J N 6J U 6
7J>6 =J B V> U J6 ?rK; V /JBJ= %J N=L= '6p 9J J' =J=
'6p 7V4E BE 9G y=R7 7 SK/= 6p U J6 K/K=y 7V4E
7JK=?rK;
BJ= eb:Mqy B V9 /V9 K6;gK>K!/ 3q BJ= eb:Mqy
B V9 6J <3JH
9JAv]J6 AGv]J6 JV>J 7JK6 K%K FAJ AMK95J 9J 6p U J6 AMK95J
74JV6= ;P>p 39J A= J= /Tq AJ5J=. 9J K9V?@ JV4? J=J 9J4
U4 EJ B EJV& =R7 U J6 UA9J= ;P>p
! 9A= :J/J /BK9> 9J :K9@p /BK9V> ;JK>
/qS 74 U J6
%JI4J
" U J6 ;. :J/J 39J U J6 ;. U=EJV/= ;P>p
# JV'= 7 TK/= J=V. U J6 K9V?@ !=% 9B6 K=9J= '6p U J6
?rK; V 74 3qO
;5pv]/J J=L 3q %/N4q? 5pJVE= 5L6 K6<My U J6
;5pv]/J J=LO
75J6 7K=4?q 7 75J6 7K=4?q AB J=L 75J6 7K=4?q
9G 7K=4?q 3q K9G? 5pJVE= 5L6 y 7V4 K6<My U J6
9pKyO
?r; 7K=%J> K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r; 7K=%J> 9G AB J=L ?r; 7K=%J> 3q K9G?
5pJVE= 5L6 y 7V4 K6<My U J6 9pKyO
U J6 7K/J6 AlV q ;JK> 3q ;6 U J6 9pKy K<K6
7K/JV6 ?rK; K6VEJ" V=6 9G K6;gK>K!/ 9pKy". BJ=
25
!
"
#
$
%
13
eb:Mqy B V96 <3JH

y 9pKy= U J6 =JK5 J=L K::J9 BvbJeb= ;PV> =JK5 J=L
9J J 6"/ 7K/K6K5
y 7K/JV6= 9p9v]J7 9J BJ= 9p9v]J76J 9J K6EeV.= '6p
4JKE/i7J U J6 9pKy
A= J= /qS 9J A= JV== /qS/iJ5L6 7K=%JK>/ U J6 7K/JV6=
U{V /4 VV?p K6VEJK'/ U J6 /Tq7{ 39J =R7 U J6
/qS7{ 6J 3JK V> AGK? ;e.J>E 9J K9:JV"= 75J6
U J6 v]J6LE /qS7{ /qS 9J BJ= 7V{ 7K=%JK>/ U J6 7K/JV6=
U{V /4 VV?p K6<My U J6 ;q /qJ 39J =R7 U J6 ;q /qJ
6J 3JK V> BJ= 75J6 K69qJBL ;q /qJ
6p U J6 7K/JV6= U{V BJ= ;JK>
9G BJ= 7V/p
7K=%J> 9p9v]J7 AK%9 7K/K6K5 39J BJ= J' V;q=
9p9v]J76J AlK q/ U J6 ;q /qJ 9J 9pKy
;JK> 9p/L/ 6p U J6 9pKy= 4!V> JV& =R7 U J6 7K/JV6=
U{V y 7K/J6 4!> J=L 9pKy 39J BJ= K6Ee. J=L %PCJeb
9pKy 39J 9p9v]J7
39J y J' V;q= 9p9v]J76J AlK q/
U J6 7<My ;q /qJO
<e7JK/ 9K>V/ 7J ; ;M:J= *rJK;?6 <e7JK/ 9G ;6 6p
U J6 <e7JK/ 9J > JV 9M(J V9 <JBJ= J=J ?Ky= F7J46
BsJA 9SK 9J U7=. =J BE 39J 7VEJ" =J BEO
<J6 9JB6 3q <JKe ?Ky %JK>/ <J69JB6 <JBJ v]> U6Y
J J? 7V3 <J/JEJV/= '6p 9p9/ BE 9J 9p9BJV== U<J"p 9G
U J6 *rK><J6
J6M"K; <J6 BJ= eb:qMy B V9O
U<Y3 4= @J K@ 7K/K6K5 3q U J6 7K/JV6 9J 7K/J67MV=
;6 U J6 U*r, K6E6 9J U*r, K6E6 U8,JV=?6 <JBJ VEJ4?
5pJVE= 5L6 y 7K/JV6 9J 7K/J67MV U<Y3 4= @J K@=
9pJ7JV= ?rK; "V.= 7K/K6K5O
K=V> 3q U< U{V
7 JV== J' K4V6= K9K:6g A;VE 4M
9J /V/JK5 ?rK; 4> J=J AlJK4/ BE UA U{V y=R7 7V/p
4>O
U=K'J,q K%K FA 3q K%K FA KBAJV9 U;K, pJ> 9G U,f*J>
J K> J 6
AV6=
6G J 6 = 5L6
26
U=K'Kr T/ U J6 9pKyO
U=K'J,q U*r, K6E6 3q VEJ4? 5pJVE= 5L6 U=K'Kr T/
U J6 U*r, K6E6O
U=JVE4J4 3q U J6 ;5pv]/J J=L ?r; J4J>/ 9J *rJ 9Mp6J>
/Tq U J6 K? K9V=J5 9J /FAGzJeb U J6 K9@VE= K6uK 9G
U J6 eb9/qL U=JVE4J4 BJ= eb:qMy B V9O
> J * 3q U J6 ;JK> /qS U J6 ;qv]J6 39J BJ= U J6
G? 9 K=EJ U4 EJ 39J BJV/ AlP.q 9J JGK? :JV9 J'
v]K"/ =J!J 39J U J6 ;JK>
/qS %PCJeb:JV9 9J ?/qAJV7V{
/JBJ= U 8 3q E>J ?Ky 9J IJ%J ;JV>= v2/J 39J ;J> 'K;EJ
3J J 39J <e7JK/ 9J > J K9 > 9J :JKEJ <J EJ= J=V.
U J6 ?rK; V J' K4V/ ;JK>V = 9p3q/J v2L TK/ 9J {;/JO
?Ky 3q W94MpK/ ?Ky 9G ;6 6p U J6 ?Ky <JBJ
<JKe :JV9 U7=. =J BE 9G <JBJ ;J69 9J 'e\= ;J5pV; F76g
BE 6JO
K? 3q UJ F7J46 7KzEJ 39J 6p
U J6 7K/J6 U<!JV6 U J6 9v\ 7v\/ BE K:V<JK'/ BE
7KzEJ'J/ =J BE 39J F76g BE 39J U<!JV6 9p9BJ=
7K=9B6 K9zE %J>J6 39J BvbJeb= =J= >V{p U J6 9v\ 9J
74JV3q= W/=L 7K=9/q6 U;=J;/ >G =. AlP.q 9J K6!IM/ =.
39J "IJ* 9J U;JC 9f4L =. 39J 6p U J6:JV9 K6;qJ. 7KzEJE
JV=J7 =J= U J6 J' 7K=%JK>/ BE 39J ;6 6p U J6
7K/J6 <JBJ A= J= A= J=L U"V'V* 7J76 J=J
J V6=
VV?p K? 7K/J6 9K>EJ U#[email protected] V=
9G K6;gK>K!/
7K/J6}K> BJ= eb:Mqy B V9 <3JH
AC 7K=9B6 U=> 7K=9B6 AJK:qA
! U6Y 7K=9B6 AJK:qA
27
"
#
$
%
&
'
(
14
K9;J6 7K=9B6
, 'JBJ' #J* 9J U'K*
!K6 7J3= !J4 "pJA U{ 9J W/> U{
9J"J6
J=!J6J
AG9J47 7K/J6
U J6 9JCL #= =JvbJ AMC 64q;J 6J>J 9J UA/N 'JBJ' K6;qJ.
'JBJ' :JJ 7M6H K6;qJ. U;=J;/ 7K=9/q6 9J :JKEJ U8>J=
39J 'JBJV' ;J> +JV6J 6J;JV6J 9J > EJ <J EJ AGzJeb J' 9J
9p9v]J =J= '6p v]JK7/ U J6 K+ J4J= 9J 7 K+ J4JV== 7K/J6O
K? K9V=J5 3q U J6 9pKy= %J N=L= K6VEJ" AGzJeb 9J %J N=L=
?/qJ9>L 9J JV'= 9v]J 9J 7K=V9? AGzJeb U J6 K9@VE ;JK>
9G ;JK> ;JK> 9G ?rK; 9J ?rK; 9G ?rK;V = ;V5p U J6
K9V=J5 9J ;/ 7J3q pO
K? 3q U%Y 9FA= 9EA 7P.q V=6 6J ;6 U J6 9pKyO
?r; J4J>/ 3q
J V6= 5L6 7K/K/ ?r; J4J>/O
?rK; 3q K?{J5L6AB U J6 9pKy /JBJ= %J N=L= ?/qJ9>L
7 J?p 9J Bp U< :JV9 3J N 6J U 6 K<K6 U J6 7K/JV6 9J
K?V A=JAK=:JV9 9J U J6 K+ J4JV== ;J5pV; ;'M=L 9J V3q=
K9K6;VE U J6 4{ 4{ JKE
JK="=L 9p9AJ 6gE6;P>
39J U =J6LK"K== J' =J= '6p K6<My B6 K e\ 75J6/H
7?JAK6 9J 9p9v]J76J;P>
JV' 4JKE/i7J U J6 9pKy BJ=
e\:qMy B V96 6JO
AJB 3q AJ/ K4V6= U;EJ4 <JBJ U J6 z9J= A J> &E #K* J
B V/ 39J U J6 >J J= U J6 7K/JV6= '6p A= J= /Tq
Kv]=L T/ 6p U J6 K46 B V/ =^ BEO
AlP.q {;/J 3q ;6 {;/J v]JEL 7 TK/= B 9J v]JEL
7 TK/= B
<JBJ U J6 ?rK; V U< 4M#q*6J= J=V. /JBJ= '!;
B EJV& BJ #K*9J= A;E K/K6 U< U< J' K=V/ A{; K&V>6 y
A > J' B V/ /JBJV {; K=EJ U4E 39J ;q J>L6 A;VE
9p9/ =JAJEK6 4r9pJK4= 7K/KzEJ 39J JV'= AJV3 AlSy
U J6 4P@V.= 8V> v2Jv]pBJK6= J=V. y ?rK; v]JEL 9J v]JEL
7 TK/= ;q{;/J BJ=JE H
28
/V9 ?/q 3JV U< :E U%JV!= v]JEL AlP.q 4SK?Ky U>J7 7J V>
v]JEL AlP.q {;/J #K*EJV& 9K>EJ ".p B V9 39J 73; /8KAV>
9K.q/ U J6 '!;A;PVB= =R7 AGV<J'6 B V/ v]JEL AlP.q
{;/J #K*EJV& 9K>EJ ".p B V9 U<!JV6 y /8KAV> K65qJK=/
y '!;A;PVB= '6p 7J'q6 {;/J U>JV7= U;J* "C BJ= ?/ =J
?/ :J" BEO
AC 7K=9B6 AJK:qA 3q AC 7V3 :JCJE 9J V3q= K9K6;VE
"JCLV/ <JL 9J ;J>J;J> 7K=9B6 AJK:qAO
AG9J47 3q U J6 ;MK4r/ 7<qJEzK; 7 J?6J <JBJV/ AJ5J=.
AG9J4 9J y AG9JV4= 7= ;eb9p 3JV
9G A= J= /qS
A= J=L U"V'V* 7J76 J=J AG9J47 9K>EJ U#JK@/ 6p U J6
;MK4r/ 7<qJEzK; 7 J?6J BJ= eb:Mqy B V9O
AG9J47 &J7J!J6J ?rK; 3q U J6 AG9J47 7K/JV6 U J6
&J7J= J' =J= '6p AJ9q{K. :JV9 K6VEJK'/ U J6 9pKyO
AG9J47 7K/J6 3q AG9J4 7 &J7J 9J= F7J46 K=9J= 9J
7 J? K=9J= U J6 7K/J6 39J U J6 AG9J4 V'L 9J K8%J=
KAKV * 7K=%J>6J=/ U J6 7K/J6O
AG9J47 ?rK; 3q U J6 ;q=/ AJG9JK4 7?JAK6 ?rK;
39J AG9J47 &J7J!J6J ?rK;
AJK>A 3q %/N4q? 5pJVE= 5L6 K6<My U J6 AJK>A
AJK>AL J<q5J=J 3q U J6 AJK>VA= AloMV! AJK>A AGzJeb U J6
J<q5J=JO
AJG#JK/ ?J=LK= '!; 3q ;6 U J6 '!; <JBJV/ U J6
9pKy= U J6 V= 9p9BJ= v]JEL:JV9 6 BE 9J B EJ= 7 *
AljJ96J 3JV
39J U J6 V= v]JEL '!; BE 9J B EJ= 7 *
AljJ96J 3JV
39J 4SK?Ky 9J ?r9. ?Ky v]JEL:JV9 6 9J '!;
BE 9J B EJ= 7 * AljJ96J 3JV 9J U J6 v]JEL:JV9 :J$%N= BE
9J B EJ= 7 * AljJ96J 3JV 39J '!; 7J 9pKyV J' B V/
K9? K4V6= K5 A;E 6M7Kv]/ 3JK V/ 9J5p V= 9J =J= 7 *
AljJ96J 3JV O
U J6 ?r; J4J>/ AlV q KAJeb 3q U=JVE4J4 9p/L/ ?r;
J4J>V/= ;6 U J6 KAJeb 9J JV4? <JBJV/ U J6 ;J;>J
%PCJeb:JV9 K6uK BEO
29
vZL; 3q
J V6= 5L6 7.L/ U J6 vZL;O
=t$>7 (X<7
=)G7<
< @0>0 2$Y<,1>
O < @0>0 2$Y<,1>Aoo

7V/p 7K/JV6 ?rK; "V.= K6VEJ"
/FAGzJeb J6M@K
6pJ6p K9@EJK4
5pJVE= K95J6 6M<JEL 7K=%JK>/
B V9H
/V9 ?/q 3JV U B V/ 7JK=V9 6JO
7 5J=J
= ?/qJGV? K>K!/ %J N=L K9K5 6MV;J4V6= '6p
7K/JV6= ;JK> /Tq 75J6 7K=4?qV = K6 * U7? K=V/ B V9
9G 75J6 7K=4?q BJ 7JK= &E ;JVA= ;V5p /JBJ= K9V9%6JE
<3J<3 JV4? 74J6 K=V96O
75J6 7K=4?qV = 6MV;J46 9p/L/ 7 5J=J
K>K!/ U J6
%J N=L K9K5 J<q = =J <J V9 6JO
75J6 7K=4?qV = JV4V? AG{M U J6 9pKy JV4? 7JK= K?
K4V6= ;V5p A= JV== K6 * J7L> U7? K=V/ 7JK=V96 9G
J7LV>= 7= A= JV== JV4? %PCJeb B V9O
7 5J=J
= U J6 K95J6 A= JV== ;JK> J6J5L6 9p9v]J76J5L6
9J K6Ee.J5L6 U J6 7K/JV6= U{V 7V<J'p B V9 6JO
O
2Z=. G#0 F2Z#> =,-< ,9 =2`<)=,2> <1Aoo
JV'= 5=6
7 TK/= K:KV/ U J6 7K/JV6 K6VEJK'/ ?rK; ".V K6;gK>K!/
U?r.LV/ K9:y =J <J V9 <3J Hoo
K?{J5L6
! 94>L
" AJ;KE
# v]JEL
$ K?{J6K9?
% v]JELO
U J6 ?rK; V K?{J5L6 ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJ=
15
30
K6VEJ" 7K?{.J3qL KBAJV9 BE 9G 7K?{. JV> /JBJV :J/J

74J6 =J BEO
U J6 ?rK; V 94>L ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJV
U J6 v]JEL ?rK; 9J K?{J6K9V?= 7V4 /JBJV4= AJ;KE
6M7Kv]K/ J>L6 A;VE= '6p K6<My =J BEO
U J6 ?rK; V AJ;KE ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJ=
K6VEJ" AJ;KE 5=V6= BEO
U J6 ?rK; V v]JEL ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJ=
K6VEJ" ;6 U J6 JV'= '6p BE <JBJ Jeb:JV9 v]JEL 5=V6=
9G <JBJ ALK;/ A;VE= ;V5p Al6g B EJ= AljJ96J 3JV O
U J6 ?rK; V K?{J6K9? ?rK; 9>J B V9 <K4 U J6 7K/JV6=
U J6 v]JEL 7V4 /JBJV
J7J//H K6VEJ" =J BE 9G /JBJ=
K?{J6K9?L J> A;J 6J B EJ 3JV O
U J6 ?rK; V v]JEL ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJV
v]JEL:JV9 K6<My =J BE
39J 7K/JV6 K/K6 /JBJ=
K?{J6K9?L J> AVebJ@'6 :JV9 A;J K=EJ 3JV 6O
U =J6L AGzJeb JV' K6<My U J6 ?rK;V = K?{J6K9?L J> B V9
&E ;JA 9G 6pJ6p ?rK;V = '6p
A;E B V9 K/6 ;JA H
/V9 ?/q 3JV U<
'6 4{ ?rK;V = U{V /JBJ=
K?{J6K9?L J> J= K/6 ;JA 9SK =J <J V9 <K4 U J6 J=V.
73; K/6 ;JA K?{J6K9?L JV> /JBJ= JV'= ;J6 K6.qE =J Alj9
6J BEO
<K4 U J6 ?rK;V = %J N=L /JBJ= K?{J6K9?L JV> 9K5q/ A;EAB
9AJ6 BE 9G BJ= 7=9/qL K/6 9&V== ;V5p <K4 K/K6
;JK> /qS 7M6=JE K6<My B6 /JBJ B V> K/K6 <K4 6J v]JEL:JV9
K6<My B6
'6 K?{J6K9?L KBAJV9 ".p B V96 9G /JBJ= 6/N6
K?{J6K9?L J> ".6J= U{V 7PV9q= K?{J6K9?L J> KBAJV9 J6J
B V9O
<K4 U J6 v]JEL ?rK; U J6 6/M6 7V4 K?{J6K9? KBAJV9 K6<My B6
/JBJ B V> /JBJ= K?{J6K9?L JV> U /JBJ= K6'v2 !=V% /F /qS K6<My
7V/p ?rK;V = '6p K* AJK:qA 9 VE= 9p9v]J K=V96O
7V/p AJK:qA 9 ;JK>V = UB8J'V/ 3JK V9O
U J6 ?rK; V K6VEJ" =J= 7PV9q ;JK> /JBJ= K6 * B V/ 7PV9q J=
AJK:qA 9 />9 K=V96 <K4 y ?rK; 4J9L V=6 U< K/K6
K/7PV9q 6p U J6 ;JK>V = 5LV6 %J N=L K=EJV&6O
<K4 y ?rK;V = U J6 AJK:qA 9 3JV /JBJ B V> K/K6 BJ 6/N6
;JK>V = K6 * BvbJeb= K=V96 9G 6/N6 ;JK> /JBJV =K?4
74J6 K=EJ AJK:qA 9 K* K6' UB8J'V/ =JK!V96O
<K4 y ?rK;V = U J6 AJK:qA 9 6J 3JV /JBJ B V> 7 5J=J
6M<JEL AJK:qA 9 VE= 9p9v]J K=V/ B V9O
<K4 U J6 ?rK; AJK:qA 9 VE=
K* K7 K6V' AG={. K=V/
%JVB6 /JBJ B V> K6' !=V% K/K6 /JBJ K=V/ 7JK=V96O
U J6 ?rK;V = %J N=L 9AJ6 JV> ;JK> /JBJ= AJK:qA 9 U8=/
K4V96O
<K4 U8=/ T/ U J6 AJK:qA 9 9J AJK:qA 9 VE= U J6 K7 ?rK;
BJ=J EJ U8V>6 /JBJ B V> ;JK> ?rK;V = !=V% /JBJV AJK:qA
9 VE= K* K7 A=9=JB K=V96O
5J=J= U J6 K &M K?{J5L6 94>L 9J AJ;KE ?rK;V = U{V
7V<J'p B V9 6JO
O 4<=-Y4 , G70 +0.Aoo AJK:qA 9 K9K5 J=J K65qJK=/ ;JV7 8=V;
=K{/ B V9 9G BJV/ ?rK;V = K* 8V*J AGV<JK'/ 3JK V9O
AJK:qA 9 VE K6;gK>K!/ K99=. 3JK V9 <3JHoo
?rK;V = 6J; ?rK;V = ;J/J K7/J= 6J; K+ J6J
7V<J'p U{V v2J;L vL= 6J; K>K!V/ B V9
! '6m /JK=!
" A6Jy =J= 7VEJ'V6 K9V?@ K99=.
# <K4 7PV9q U J6 ;JK>V = 5LV6 %J N=L K=EJ 3JV 6 /JBJ B V>
/JBJ= 6J; K+ J6J
$ %J N=L= U;EJ4
*=0 7 *mOooU J6 ;JK> K6VEJ"7 74J6 6J K=EJ U J6

31
16
32
%
&
'
(
U7?J 9J 749L
;'M=L :J/J <K4 3JV
U:J" T/ &MK* 9G
?rK;V = J%=.O
O 4<=-Y4 , G7 PO-?Y=Âoo;JK> U J6 ?rK;V = %J N=L= =^V/ 9G /JBJ=

%J N=L %>J JV> /FAlV q AJK:qA 9 V/ A;E A;E
5pJE 9G K9K5= 5L6
7VEJ'6LE /3pJK4 K>K79 K=V96 9G ;JK>
?rK; :VE BJV/ 4vb!/
K=V96O
"
#
O 2Z=. F0= ~<0 ,9 = G

<!Y 40,0<5Aoo
;JK> /JBJ=
7K/JV6= A > ?rK;V = '6p
K* ?rK; U=K'J= =JK!V96 9G BJ A >
;qA;VE 7K=4?q /Tq 7K=4?qV6= '6p 7v\/ =JK!V/ B V9O
?rK; U=K'JV= K6;gK>K!/ K9@E}K> K>K79 3JK V9 <3JH
7V/p ?rK;V = 6J; '6m /JK=!
! K6VEJV"= /JK=!
" JV'= 5=.
# /JBJ= '6p K65qJK=/ J<q A;E
$ K9?rJ; 9G JBJV== '6p /JBJ= 7J7p K9=K/ J>
% /JBJ= 7J7p K9?rJV;= K46
& U J6 "^V7= eb:Mqy B V> BJ= V>!
' /JBJ= "^7 7J>JE J' K=V> U< K=V>V/ /JBJ= J' 9=J BJ=
V>! 9G
( K9K5 J=J K65qJK=/ 6pJ6p 9.q6JO
<K4 7K=4?q
;/ U7J@. V=6 U< 7 5J=J
K>K!/
K99=. U J6 7K/JV6 =^K*6 ;JK8 =K{/ ;JJ= U=J> 9J
U=K'JV= K>K79 =J JV& /JBJ B V> K/K6 K>K!/ JV4?
J=J
;V;q K6V4q? K4V/ 7JK=V96 U< y ;JJ= U=J> 9J
U=K'J= ?rK; U=K'J= KBAJV9 ".p B V9 9G /F7K=9V/q BJ
=K{/ B V9O
A= J= K9K5 J=J ?rK; U=K'JV== 8=; BJ ={V.= 7e]J 9G
AG={V.= U;EJ4 K65qJ=. K=V/ 7JK=V9O
;JK> 7V/p ?rK; V K6;gK>K!/:JV9 K*V * 9J J,q A=9=JB
33
K=V96 <3JH
7V/p v]JEL ?rK; V /JBJ= 6l2= V>!7P9q v]JEL K9:J"LE
K*V *
7V/p 94>L ?rK; V
K* 94>L J,q <JBJV/ K/K6 U< A;vb K46
J' K=EJV&6 /JBJ= V>! 3JK V9 9G <JBJ /JBJ= v]JEL %J N=L
7JK= U{V U8=/ K4V/ B V9
7V/p
v]JEL ?rK; V
K* v]JEL K*V * <JBJ /JBJ= %J N=L
7K=/pJV"= U{V 9J v]JEL %J N=L 7JK= U{V U8=/ K4V/ B V9
7V/p AJ;KE ?rK; V
K* AJ;KE J,q <JBJV/ K/K6 U< A >
K46 J' K=EJV&6 /JBJ= V>! 3JK V9 9G
7V/p K?{J5L6 ?rK; V
K* K?{J5L6 J,q <JBJ /JBJ= 7K?{.
/pJV"= A;E 9J v]JEL %J N=L 7JK= U{V U8=/ K4V/ B V9O
O ?= 0 *s=$Aoo
U J6 ?rK; &MK* K6V/ _&J K=V> /JBJ= ;JK>V =
K6 * K>K!/:JV9 4=!Jvb K=V/ B V9 9G BJV/ /JBJ= &MK*V/ 9v]J6 J>L6
K+ J6J V>! 3JK V9O
;JK> 9J /JBJ= K6 * B V/ {;/J7J U J6 ;q /qJ 6M=R7
4=!Jvb 7JK= AJ/ K4V6= ;V5p 39J &MK* =^ B EJ= 4M K46 7PV9q
<JBJ JV" AG#K*/ BE /JBJ= JV4? 74J6 K=V96 H
/V9 ?/q 3JV U< '=^=L J=.9?/H <K4 7J3qL/ &MK* 4=!JVvb=
/JK=V! 39J BJ= K/6 K4V6= ;V5p =^ K=V/ BE /JBJ B V>
6M=R7 JV4? 4=!Jvb 7JK= K4V6 74J6 K=V/ B V9O
<K4 7J3qL/ &MK* ;M= =J BE /JBJ B V> AGK? ?rK; V
K*
&MK*= 7JA U4 EJ B V9O
<K4 7J3qL/ &MK* 6J;M= 9J v]K"/ =J BE /JBJ B V> 6J;M= 9J
v]K"/JV4V?= J=.AB BJ AGK? ?rK; V 7JK3q/ &MK* J=lj
B EJ= /JK=V!= 7PV9q 9KB/ K=V/ B V9 9G /4 VV?p
=K{/ U=K'JV= BJ K>K79 K=V/ B V9O
<K4 U J6 ?rK; &MK*V/ <J EJ= 7= &MK*= U;EJ4 9K5q/ K=V/
%JVB6 /JBJ B V> /JBJV &MK* 7J 6J 3JK V> &MK* U?@ B EJ=
<V3 JV" BJ= '6p ;JK>V = K6 * 4=!Jvb K=V/ B V9 9G
;JK> V &MK* 9K5q/ =V.= JV946 ;M= 9J 6J ;M= K=EJ
?rK;V = &MK*= K+ J6JE K>K!/:JV9 'J6J V/ B V9O
17
34
;'M=L 6J 7J V/ 7JV=6O
<K4 J' 9V= U;EJ4
;q K49VA= K5 BE /JBJ B V>
AJ;KE 9J 94>L ?rK; 9p/L/ AGK? 7V/p ?rK; V
K4V6= K/K=y A > 9 ;q K49VA= '6p ;'M=L 74J6 =J B V9O
<K4 J' 9V= U;EJ4 K/6 ;q K49VA= K5 BE /JBJ B V>
AGK? ?rK; ".V 5J=J
= K95J6 6M<JEL U> 8 =J
B V9O
7 5J=J
K>K!/ U> 8 J' 9 B EJ= 73; K46
B V/ 9>9F B V9 9G 73; K/6 K4V6= '6p 74 U J6 ;'M=L
AGK? ?rK; V 7V4E U> 8 J>L6 {K/7P=V.= AKB/ A;Ke2/
=J B V9O
J' 9V= J=V. <K4 U J6 K+ J BJV== ?rK; {K/"v] B6 /JBJ
B V> 7 5J=J
= 7VEJ'V6 /JBJ= 7P9q9/qL
;JVA= "C
W4K6 JEV X4K6 ;'M=L 9K>EJ ".p =J B V9O
O ,X=7$ ?= 0 . ?0> *r'<)Aoo<K4 U J6 ?rK;V = %J N=L &IJ*J K,A%J'q

7AJ=. 9=!Jvb 9A= 74/pJ" 9J 6p U J6 J=V. 9AJ6 BE 9G <K4
/JBJ= U J6 9JFAK= &MK* 7J 6J 3JV /JBJ B V> ;JK>
7J 6J &MK*= 7K=9V/q
J V6= K95J6 6M<JEL &MK* J>L6 A;VE y ?rK;V = U< ;'M=L 7J7p B /
/JBJ 74J6 K=V96O
O < ,v 0< <Aoo
K"g J J Kuo K97K <e7JK/ K9 > K94MpF
A=9=JB 9 ;BJ;J=L 9pJ7 4JJ BJJ;J 39J ;JK>V = K6Ee. 9KB:Pq/ 6p
U J6 J=V. 7VEJ'6 B V> U J6 ;JK> U =JK!V/ 7K=V96O
<K4 y=R7 9V= JV4? ;qA;VE= 7V= U4 EJ BE /JBJ B V>
7=9/Lq ;qA;E =^ B EJ= JV" ;JK> 7K/JV6= AGK? ?J!J=
U6JK*? U9JV,q 9J U J6 7 J?p v]JV6 U6JK*? AIJK*EJ 9J >* J EJ K4EJ
y K9@VE AGK? ?rK; ".V 9KB/ K=V96 O
7 5J=J
K>K!/ U6JK*V? 9 7=9/Lq J' !6 =^
B V9 9G AGK? ?rK; ".V J' 7M6=JE =^ B EJ= 7PV9q U J6
A;E /JBJV4= ;qv]V> 9v]J6 K=V/ B V9 K 6J /FAlV q
K6V4q? 3JK V9O
<K4 y=R7 9 ;qA;VE= ;V5p AG#K*/ BE /JBJ B V> ;JK>
7 5J=J
K>K!/ 7e]JE U6JK*? ;J=8/ AGK?
?rK; ".V <3J?L# Alj9 /FAlV q 9KB/ K=V96 9G
U6JK*V? 7=9/Lq J' !6 =^ B V9 9G ?rK; ". ;qv]V>
9v]J6 K=V96 K 6J /FAlV q K6V4q? 3JK V9O
y=R7 J' 9V= 7= U< A;vb ?rK; V ;qv]V> 9v]JV6= K6V4q?
U4 EJ B V9 /JBJV4=
9v]JV6= A;E
#f*J= ; B V>
/JBJ=J U J6 ;'M=L 6J 7J V/ 7JV=6 9G
9v]JV6= A;E
BJ= K5 B V> /JBJ=J 9v]J6 J>L6 AlP.q A;VE= '6p ;'M=L
7J V96 O
<K4 J' 9V= U;EJ4
;q K49VA= U%VE U9?L 6J BE /JBJ
B V> AGK? U J6 ?rK;
7 5J=J
= U{ 9p/L/ U J6
35
O *r=$|<) ,v 0< <Aoo

U J6 7K/JV6= U J6 ?J!J 9J K9:JV" U9
J 6L 5;q#V*= J=V. ;JK> y ?J!J 9J 7K/J6 JGK? 9J AlP.q 9 K=EJ
K4V/ 7JK=V96 9G =R7 9V= U{V 5;q#V* G?"B. J=L ?rK; ". U J6 ;'M=L
7J V96 6JO
<K4 7 5J=J
= 5L6 U J6 ?J!J 9J K9:J" 9V= J=V.
7K/JV6= 6p U J6 ?J!J 9J K9:J" ;6:JV9 {K/"v] BE U< BJ
%J>M =J!J Alj9 6VB /JBJ B V> y ?J!J 9J K9:J" 9 K=EJ
U4 EJ <J V9 K e\ UAV{V AGK? ?rK; ".V K/6 K46 7<qeb
U> 8 = U{V 7V4E {K/7P=V.= A;7K=;J. ;'M=L 74J6
K=V/ B V9 /V9
U;EJV4= K/K=y A;VE= '6p /JBJ=J J=
U J6 ;'M=L 6J 7J V/ 7JV=6O
y=R7 9V= K9@EK* ;JK> <3J?L# Alj9 AGK? ?J!J 9J
K9:JV"= U6JK*? U9JV,q 9J 7K/JV6= U J6 7 J?pv]JV6 U6JK*?
AIJK*EJ 9J >* J EJ K4EJ AGK? A >V
9KB/ K=V96 9G
J' 7M6=JE =^ B 9J= K9@E y=RV7 K9JK7/ K=V96O
O =$*7 F`Gm p ,840q p 7 .<4q ,9 p. ?0>q #)<Aoo
5pJVE= 7VEJ'V6 U J6 ?rK; U J6 7K/JV6 7P9q9/qL 9J= 7K J ;JVA 9JvbV9
18
36
eb/H 4M ?/ %K>? K46 9J

?/ K9? K46 J' K=EJ 3JV 6 /JBJ B V>
K/K6 <3JzV; 9FA= 9J &E ;JA 7K/JV6 K9K_&6g:JV9 J' K=EJV&6
9K>EJ ".p B V96O
7 5J=J
K>K!/ U J6 ?rK;V = 9JvbV9 J' =J= K46
".6J= U{V K6;gK>K!/ K46}K> ".6JE J6J B V9 <3JHoo
/JBJ= U7 V8= K46}K>
! AMv]/J 9J 4M#q*6J= J=V. ;'M=LAB 9J K96J ;'M=LV/ &MK*= K46}K>
" W95 5;q#* 39J X95 > J V*= J=V. ;qBL6 K46}K>
# ;KB>J ?rK; "V.= U{V 6K5 U@J> AJB 7<qeb 7APK/ &MK*O
5J=J
39J
= 5L6 {K/7P=. 39J 5J=J
39J
= 5L6 ;'M=L KBAJV9= 7VEJ'V6 ;'M=L 9K>V/
U J6 ?rK;V = &J*J 9=!Jvb 7AJ=. K,A%J'q 9A= "B. 9J
%J N=L= 9AJV6= 9p9KB/ 7PV9q= 9J= ;JVA 74 /JBJ= ;P> ;'M=L
9G ;BJ#q :J/J 9G , B 9J eb9/qL ;'M=L <K4 3JV
= "C
9M(J V9O
3JV 6O
;JK>
9G ?rK;V = ;V5p K:6g=R7 U J6 %NKy 6J 3JK V> U J6
?rK;
5J=J= 5L6 U J6 7K J 9FAV= 7IE/JK>? K4V6=
K5 A;VE= '6p {K/7P=. 7J V96 6JO
7 5J=J
<JBJ K &M 3J N 6J U 6 <K4 U J6 7K J 9FAV=
U J6 ?rK; V
K9K_&6g:JV9 9J K9K_&6g:JV9 7IE/JK>? K4V6=
K5 A;VE= '6p U> 8 =J BE 9G y 7IE/JK>? K4V6=
7= U> V8= A;E <K4 JV=J 76= K46 9J /4P5hq BE /JBJ B V>
y ?rK; V ?rK;
9G ;JK>V = ;V5p K:6g=RV7 U J6 %NKy 6J
3JK V> 7=9/qL 7V/p 76= 9J /4P5hq K46A;PVB= U> V8= '6p
{K/7P=. 74J6 K=V/ B V9O
7 5J=J
K>K!/ {K/7P=V.= 7K=;J. B V9 AGK?
?rK;V = U;J* ;P> ;'M=L 9G ;BJ#q :J/J 9G ,B 9J eb9/qL
;'M=L <K4 3JV
=
%/N3qJG? 9G <K4 J9JKA :J/J 3JV
/JBJ= AlPV.q= A;J6O
U J6 U{V <K4 U J6 ?rK; V U J6 7K J 9FAV= 7V=
K>K!/ 73; 7IE/JK>? K46 U> V8= 7= U J6 K9K_&6g 76=
K46 9J /4P5hq A;VE= '6p U> 8 K=V/ BE /JBJ B V> ;JK>
y ?rK; V U> V8= 7K=9V/q 5J=J
= 5L6 &J*J K=V/
7JK=V96O
O (<0<
,9 *rG7<G 0 F`Gm ,<(< =)G3(Aoo
5pJVE=
6p <JBJ K &M 3J N 6J U 6 eb/H 7IJ% '6 ?rK; K6<My 6J 9J 7P9q9/qL 9J=
;JVA K6<My K&V>6 6J =R7 U J6 7K/JV6 5J=J
9G
=
K95J6J9>L 7V<J'p B V9 6JO
O F1 + E$ 2Z=. G#0 `=$*B0G#0 =( <0Aoo
U< U{V 94>L 9J
AJ;KE ?rK; 6VB6 =R7 U J6 ?rK; V <JBJ= 6J; U J6 7K/JV6= ;JJ=
U=JV> eb:Mqy JV& 9G K<K6 ;JK>V = 5L6 eb/H
9FA= %J N=L AlP.q
K=EJV&6 U> 8 =J BE /JBJ B V> ;JK> /JBJV AJJKB &MK*= K46 9p/L/
/JBJ= U> V8= A > K4V6= '6p {K/7P=. 74J6 K=V96O
7 5J=J
K>K!/ {K/7P=V.= 7K=;J. B V9 AGK?
?rK;V = U;J* ;P> ;'M=L 9G ;BJ#q :J/J 9G , B 9J eb9/qL
;'M=L <K4 3JV
= V5q
9G /JBJV U> 8 =J 6J B V>
K/K6 U< J9JKA :J/J 7J V/6 /JBJ= AlPV.q= A;J6O
U< 94>L ?rK;V = 6J; U J6 7K/JV6= ;JJ= U=JV>= eb:qMy
JV& K/K6
5J=J= 7VEJ'V6 94>L 9K>EJ ".p B V96 6J <K4
K/K6 y 7K/JV6 K9K_&6g:JV9
9&= %J N=L AlP.q K=EJ
37
O F1 + E$ 2Z=. G#0 .<~<0 F0<1Aoo U J6 7K/JV6 ?rK; ".V U>

8 =J AVi ;JK> V /JBJV4= '6p ;JJ= U=J> AG={. K=V/ B V9 9G
v2J:JK9 ;qA;VE U> 8 T/ ?rK; "V.= ;V5p <JBJ=J JV'= '6p BJK'=J K4V96
/JBJV4= 6J; BJV/ K>K79 =J= 9p9v]J K=V96O
O =$*7 F`Gm F1 + E$ 2Z=. # `=$*B0# *< ,<0
)<Aoo
5pJVE= 6p <JBJ K &M 3J N 6J U 6 U
?rK; V {K/7P=. 7V4E B V9 6J <K4
K/K6
7K/JV6 9J
;JK>V = 5L6
39J J* K V>JK;*J= 4P=V/i= ;V5p 9Kv]/ K:6g
4{/J 9J 7P9q K:/J= 7VEJ'6 6J =R7 U
;'M=LV/ J' "B. K=V/ v2L J= V=6
19
38
=( <0> 5 G,)
J6 U> 8 T/
?BV= 9J "JV;
U J6 7K/JV6
J6 K9 7V4
! K/K6 ;JK>V = K6V4q? AVi

eb/H K4V6
9J= 7K/JV6=
v2J:JK9 ;qA;VE= ;V5p U J6 K6K4q A;VE JV'= '6p BJK'=J 6J
U46O
7 5J=J
! = VV?p <K4 U> 8 T/ U J6 ?rK; U J6
K4V6 v2J:JK9 ;q A;VE= ;V5p K65qJK=/ U J6 A;VE JV'= '6p
BJK'=J U46 9G BJK'=J= 4M #J= ;V5p <K4 /JBJV U J6 J'
U4 EJ 6J BE /JBJ B V> K/K6 UA K4V6= '6p
5J=J= 3q
U;J/JV9 U> 8 T/ B EJV&6 9K>EJ ".p B V96O
7 5J=J
K>K!/ =RV7 <K4 U J6 U> 8 T/ ?rK; JV'=
'6p BJK'=J U46 9G /JBJV U J6 K4V6= U J6 7J>JE BJ =^
B EJ= 7JwJV> J' U4 EJ= 7K=9V/q /JBJV
K4V6 7J>J=
K/LEJV5q JV' BJK'= B EJ= '6p K6V4q? U4 EJ BE 9G K/K6
/46M<JEL JV'= '6p BJK'=J U46 /JBJ B V> K/K6
K4V6=
V5q ;q A;VE= '6p U> 8 B EJV&6 9K>EJ ".p B V96 9G
9K? V5q
;qA;VE /JBJV U J6 J' U4 EJ B
9J 6J
B
K/K6 %J N=LV/ K&V>6 9K>EJ K9V9K%/ B V96O
/JBJ= &IJ*J VE= J=. V>! K=EJ

;JVA= K>K!/ U6JK*?
K4V/ B V9 39J U6JK*? U;EJV4= '6p U6JK*V?= 7K=9V/q ;'M=L
74J6 K=V/ B V9
! U6JK*V?= K* K7 75J6 7K=4?q 39J /F /qS K65qJK=/ U J6
;q /qJ= K6 * U7=. K=V/ B V9 9G JV= K* K7 7K/JV6=
U<Y3 4= @J K@ 7K/K6K5V <K4 3JV K4V/ B V9 9G
" /JBJV {K/7P=. 9J94 /JBJ= 7V/p 9FA= %J N=L= '6p K?
K4V6= ;'M=L 9J "J%N K* <K4 7V4E BE <JBJ K5 B V9 74J6
K=V/ B V9O
7 5J=J
<JBJ K &M 3J N 6J U 6 5J=J
= 5L6
&IJ*J VE= U{V 7 5J=J
K>K!/ U J6 U6JK*V?=
7VEJ'6 B V9 6J /V9 &IJ*J S/ ?rK; V
7 5J=J
"
U;J/JV9 7V4E {K/7P=. 9J "J%N K*= K/K=y KBAJV9 JV=J
76= K4V6= ;'M=L K4V/ B V9O
U< U{V U J6 K9V?@ U?r.L= ?rK; V &IJ*J =J= 7VEJ'6 BE UA
U{V ;JK>
9G ?rK;V = ;V5p /4AGzJeb U J6 %NKy=
9/q;JV6 ;JK>
y U?r.L= ?rK; "V.= ;V5p A9qV?V@ K6<My
?rK; V &IJ*J K=V96O
O .D$?X =)$ 4?=,(<Aoo<K4 U J6 ?rK; U J6 ;JK>V = 5L6 K9K_&6g:JV9

eb/H K/6 9&V== K5 J> %J N=L=/ 3J J 9v]JE ;S/Mp9=. V=6 /JBJ B V>
;JK> ;S/ ?rK;V = U J6 ;V6J6L/ 9pKy 9J ;V6J6L/ 9pKy= 9/q;JV6 /JBJ= U J6
U7J@pV /JBJ= 7V/p 7P.q 9FA= 9J BJ= &E ;JVA= K5 A;E %J N=L= '6p
{K/7P=. KBAJV9 K? K4V6= ;'M=L 39J "J%N K* <JBJ K5 B V9 74J6
K=V96 9G
3q ;S/ ?rK; %J N=L B V/ 9A= "B. K=V> U< AMK95J 7J
B V/6 /JBJ= K/K=y KBAJV9 7V4E B V9H
/V9 ?/q 3JV U< ;S/ ?rK; <K4 7K/JV6= U J6 9J5p/J;P> 9L;J vZLV;=
J /J:My B6 39J <K4 /JBJ= U{V J4? 5pJVE= 5L6 U J6 {K/7P=.
7V4E BE /JBJ B V> <JBJ K5 B V9 /JBJ y ?rK;V = U{V 7V4E B V9O
O ;< < E$ 2Z=.G 0 *?): =)G7< Aoo U< U{V U J6 ?rK; V &IJ*J =J
BE 9G &IJ*J VE=
9FAV== ;V5p ;JK> 7M6=JE U J6 ?rK; K6VEJ" K=V/
_&M B6 UA U{V ;JK> &IJ*J T/ ?rK;V = A9qV?@ 'J6J K+ J6JE U6JK*? U7=.
K=EJ /JBJV %J N=L= '6p JV946 K=V/ JBhJ6 'J6J V96 9G
JBhJV6
AJCJ K4EJ U J6 ?rK; 7M6=JE %J N=L 7J 9J= '6p JV946 K=V> /JBJV
K6VEJV"= 9pJ7JV= "JK5 J= U4 EJ B V9 9G = ; JK5 &IJ*J T/ ?rK;
7J3qL B V> /JBJV4= ;V5p 7PV9q= %J M=L= U'p/J= K:KV/ "JK5 J= U4 EJ
B V9O
O ;< < Aoo U J6 ?rK; V 7VEJ'6 K/K=y/J= J=V. U J6 7K/J6

B V/ &IJ*J =J <J V9O
U J6 ?rK; <K4 U J6 ;JK>V = 5LV6 K9K_&6g:JV9 6Mp6
9FA= %J N=LV/ K6VEJK'/ 3JV 6 /JBJ B V> /JBJ= &IJ*J VE=
U{V ;JK> V
O < @0> 5 G$ =!4 < YAoo

U J6 ?rK; V U J6 U=K'J,q K%K FA
/qS 7/pKE/ ?J=LK= 9J ;J6KA {;/J 9J 9pJB/ :"g v2JVv]p= J=V. %J N=L
B V/ K,A%J'q =J <J V9O
K,A%J'q T/ U J6 ?rK;
6Pp6
9FA= K9K_&6g %J N=L AlP.q
K=V> /JBJV ;JK> /JBJ= 7V/p 9FA= %J N=L= '6p {K/7P=.
39
20
40
KBAJV9 K? K4V6= ;'M=L 39J "J%N K* <K4 7V4E BE <JBJ K5

B V9 74J6 K=V96O
#M@ "B. 9J 74J6

# K96J &MK*V/ :pJA"/ 6M7Kv]K/ 39J &MK* 6J K6EJ
AV 4?
K4V6= K5 A;E 6M7Kv]K/
$ :pJA"/ K9>Vl2 7Kv]K/
% 7K/JV6 7V<J'p U J6 J 6 K9K5 9J 7K95JV6= :pJA"/ >G#6
& 7K/JV6 _&SG!> 9J 4JG"J BJG"J;J;P>
J%=. 39J ?SG!>J
BJK6 = U J6 ;q
' JV' V;q :pJA"/ "JK8>K/
( 75J6 7K=4?q
/qS
6MV;JK4/ %J N=L AGzJeb ?SG!>J 9J
J%=.AB UG#6
) ;JK>V = K8KAEJ> U= V,q= =494> 'J> =. 6pJE 7K=9/q6
BJ= {K/ =. 9J BJ BJ=J EJ U8>JO
7 5J=J
= 5L6 9=!Jvb T/ U J6 ?rK; <K4 J7LV>
!J>JA 7J6 /JBJ B V> /JBJV /JB= 7P9q/6 7V4 9BJ> K=V/
B V9 39J 6P/6 U J6 7<My 7V4 /JBJV K6VEJ" K=V/ B V9
9G <K4 BJ= U J6K* Alj9 6J BE /JBJ B V> /JBJV
K,A%J'q T/ U J6 ?rK; V 7V4E {K/7P=V.= A;J6 BJV= {K/7P=.
74J6 K=V/ B V9 /V9 9=!Jvb B EJ= J=V. K/;V5p 7J
{K/7P=V.= *J J BJ B V/ 9J4 <J V9O
O 4'< 0# ,9 'j *r<=x0 F`Gm 2<=\OAoo

J V6 U> 8
&IJ*J K,A%J'q 9G %J N=L= 9AJ6 AlV q 6p <JBJ K &M 9>J B 6J U 6
U J6 ?rK; V K96J U6JK*V? 9J U6JK*V?= 7K=9V/q K96J ;'M=LV/ %J N=L B V/
9=!Jvb =J <J V9 <K4 K/K6
U J6 U8Y'4J=L 7=JV5= '6p 47J B6 39J
! 5J=J
= 5L6 A4J%=V.= 7=JV5 U4J@L AJ9pvb B6O
A4J%=V.= 7=JV5 U4J@L AJ9pvb U J6 ?rK; V 7 5J=J
=
5L6 %J N=L B V/ 9=!JVvb= 7K=9V/q K9V?@ 9v]J= 7K=V7K{V/
K6;gK>K!/ U 6K5
9FA= 7<qeb J6E6
" 6K5
9FAV== '6p 7V4J6gK/ 9
# 6K5
9FAV== '6p ;'M=L 9SK 9
$ 'K=;J6J
% 6K5 AJ/ K46 7<qeb K96J ;'M=LV/ 9J K96J U!J=J LV/ AJ;KE
9=!Jvb
& :FqA6J A/ qL =.O
7 5J=J
= 5L6 9=!Jvb T/ 39J 7 5J=J
=
5L6 7AJK=/ U J6 ?rK; V <K4 /JBJ= K9K_&6g %J N=L= U;EJ4
6Mp6
9FA= BE ;JK> {K/7M=. 9J94 7V/p AlP.q %J N=L
9FAV== '6p U%Y K4V6= ;'M=L 39J "J%N K* <K4 7V4E BE <JBJ
K5 B V9 74J6 K=V96 H
/V9 ?/q 3JV U K/K6 U J6 {K/7P=. 7J V96
6JO
K6;gK>K!/ J' =J A4J%=. 9K>EJ ".p B V9 <3J H
7=Vv]= U J6 J 6AG"/ 9J <MKyAG"/ JV4? ;J6J= U{V
:JV9 9J V6p= AV AG#9 B EJ _&J T/:JV9 9J5p/J
! ;JK>V = 9p9AJ 9J AlK AlV q %NK= 7/J=.J 9J AJ5M/J
" ;JK>V = 5L6 /IJBJ= 9J 6p U J6 ?rK;V = %J N=L AGzJeb 9pJ7JV=
41
O 2<=\O0 *s=$Aoo
5J=J
= 5L6 U J6 ?rK;V = K9=RV ?JKvb=
JV4? 74J6 =J <J V9 6J <K4 6J
/JBJ= K9=RV K:V<J" K>K!/:JV9 =J BE
! K:V<JV"= K* K7 /JBJV U4 EJ BE 9G BJ= '9J9 U4 EJ=
'6p eb/H AJ/K46 A;E U4 EJ BE
" /JBJV 6J6L= AMV<J" U4 EJ BE
# /4Veb= 7= /JBJV U4J@L AJ9pvb =J BE
$ ;JK> 9J 9p9v]J7 9=!JVvb= JV4? 6MV;J46 V=6O
A4J%=V.= K:V<JV" K:<My U J6 ?rK; V /4eb AJV7V{
AJ;KE :JV9 9=!Jvb =J <J V9 9G <K4 6J K9@EK* J4J>V/
K9%J=J5L6 3JV
AJ;KE 9=!JVvb= U;J* U;EJ4 @J* K4V6=
K5 B V9 6J H
/V9 ?/q 3JV U< y=R7 AJ;KE 9=!Jvb JV> ;JK> /JBJV
21
42
/JBJ= "C ;'M=L ;BJ#q:J/J 9G ,B 9J eb9q/qL ;'M=L <K4

3JV
= V5q U!J=J L :J/J KBAJV9 74J6 K=V96O
AJ;KE 9=!JVvb= U J6 JV4? K>K!/:JV9 B V9 9G BJ ?rK; V
74JV6= AV AV J<q = B V9O
U J6 /4Veb K:<My ?rK; V /JBJ= 7K/JV6 K6VEJK'/ 9G
/F /qS ;V6J6L/ U J6 9pKy AJBJ
<JBJ= K9=RV
AJ{p 74J6 =J B V9 K/K6 AJ{LV U'=J K=V/
7JK=V96O
<K4 /4Veb U J6 ?rK; V U4J@L 7J EJ <JE 9G /JBJV 5J=J
= 5L6 ?JKvb 74J6 =J BE /JBJ B V> K/K6 /JBJ=
AJ;KE 9=!Jvb J>L6 A;VE= '6p U J6 ;'M=L 7J V96 6J /V9
y A;VE= '6p /JBJ= U!J=J L :J/J 7J7p 3JK V9O
<K4 /4Veb U J6 ?rK;V = 7=J5 7;JK./ 6J BE /JBJ B V> K/K6
AJ;KE 9=!Jvb J>L6 A;VE ;q=/ K&V>6 9K>EJ ".p B V96 9G
A;VE= '6p /JBJ= U!J=J L :J/J A;e2EAB ;'M=L 7V4E
B V9O
?JKvb 74JV6= U{V ?JKvb= JV4V?= K* K7 AGK? ?rK; V
K4V/ B V9O
<K4 U J6 ?rK; ;JK>
/qS U7K=/ U J6 U6JK*? K%K+
K:V<J"6J;J JV4? 9J 6p U J6 J"'7 "B. K=V/ v2L J=
V=6 /JBJ B V> BJ /JBJV 74J6 =J B EJV& 9K>EJ 9MK(V/
B V9 <K4 BJ= K* K7 U6JK*? U9JV,q 74K?q/ BE 9G JV= K*
K7 ;JK>V = 6K3 7 B V/ 7J ?rK;V = K+ J6JE U=K'Kr ,J
U<JV" U7=. =J BEO
U J6 ?JKvb 74JV6= 9pJ7JV= ;JK> AGK? ?rrK;V = 7P9q/6 6K3
7 7=JV5= }=^/i 9G K94p;J6 6p U J6 K9V?@ 9v]J
K9V9%6JE JK6V96O
U J6 ?rK;V = 7= JV=JK7/ 'K=;J6J K Kvb K:KV/ 9J BJ

JV=JV7= /JK=! B V/ @J* K46 K/zJeb B EJ= 7= J4JE =J
<J V9 6JO
U J6 'K=;J6J U< 7=JV5= '6p JV=JK7/ B EJV& UA 7=J5
AG#*V6= /JK=V! BJ JV=JK7/ B EJV& 9K>EJ ".p B V9O
A > 'K=;J6J 9G BJ= J4JE K9K5 J=J K65qJK=/
K*
U=K'JV= ;JK>
/qS K>K79 =J B V9 9G J4JE T/
'K=;J6J U 9>;J 7K/JV6 K6VEJK'/ ?rK; "V.= >pJ.;P>
JV' 9pE =J <J V9O
O ,0 <\O $X<=' ,X$>$ )X-<G, .<=1
$YD 2Z=.G 0 < @0>0
,4<)Aoo
5pJVE= 6p K95S/ U J6 7e]J &JCJ ;JK>
;JKA ;'M=L= K:KV/ K6VEJK'/ ?rK;V = U{V
?/ K9?
K4V6=
! 6p ?rK;V = U{V @J* K4V6=
K>K!/ U6JK*? 74J6 K=EJ U J6 v]JEL ?rK;V = %J N=L= 9AJ6
K=V/ 7JK=V96O
5pJVE= 6p K95S/ U J6 7e]J &JCJ ;JK>
;JKA ;'M=L= K:KV/ K6VEJK'/ ?rK;V = U{V K? K4V6=
! 6p ?rK;V = U{V U%Y K4V6=
K>K!/ U6JK*? 74J6 K=EJ U J6 v]JEL ?rK;V = %J N=L= 9AJ6
K=V/ 7JK=V96 <K4 6J
9AJ6 U< v]JEL J' AlJ4V6= '6p
?rK; V K6<My =J B EJV& BJ AlP.q B EJ 9 B EJ K9>M
B EJ 9J 7K=/py B EJ= J=V. BEO
U< U{V ;JK> K96J U6JK*V? U J6 ?rK;V = %J N=L= 9AJ6 K=V/
%JVB6 UA U{V K/K6 7 5J=J
39J
= 5L6 7V4E
U6JK*V?= 7K=9V/q U6JK*? U;EJV4= '6p ;'M=L 74J6 K=EJ BJ
K=V/ 7JK=V96O
U< U{V
5J=J= 5L6 U J6 v]JEL ?rK;V = %J N=L= 9AJ6 =J
BE UAV{V ;JK> ?rK; V /JBJ= 7V/p AlP.q 9FAV== %J N=L=
'6p {K/7P=. KBAJV9 K? K4V6= ;'M=L 39J "J%M K* <K4 7V4E
BE <JBJ K5 B V9 74J6 K=V96 9G
{K/7P=.
J V6= 5L6 ?rK; V 7V4E 6pJ6p AMK95J= K/K=y B V9O
O =0.<)< 4UG Y =,G23 =,(<)Aoo U J6 ;'M=L U;EJV4 7V4E ;'M=L=

4?;JGV?= K5 7K=;J. 3q U J6 ?rK; V 'K=;J6J =J <J V9 6JO
76= 9FAV== ; 9EvZ U J6 ?rK;V = 7= 'K=;J6J JV=J7 =J
<J V9 6JO
43
22
44
7=9/qLV/ %NKyK:K K6VEJ" K4V/ 7JK=V96O

O 2Z=.
$YD < @0>0 ,4<)Aoo
U J6 v]JEL ?rK; ;JK> V @J*
K4V6= K>K!/ U6JK*? 74J6 K=EJ /JBJ= %J N=L B V/ vb8J K4V/ 7JK=V96O
U J6 v]JEL ?rK;
;JKA ;'M=L= K:KV/ K6VEJK'/ ?rK;V = U{V K? K4V6=
! 6p ?rK;V = U{V U%Y K4V6=
K>K!/ U6JK*? ;JK>V = K6 * 74J6 K=EJ /JBJ= %J N=L B V/
vb8J K4V/ 7JK=V96O
U< U{V ?rK; K96J U6JK*V? %J N=L B V/ vb8J K4V/ %JVB6 UA
U{V K/K6 7 5J=J
39J
= 5L6 7V4E U6JK*V?=
7K=9V/q U6JK*? U;EJV4= '6p ;'M=L= A;7K=;J. 3q ;JK> V
74J6 K=EJ BJ K=V/ 7JK=V96O
U< U{V
5J=J= 5L6 U J6 v]JEL ?rK; %J N=L B V/ vb8J U46
UA U{V ;JK>
y ?rK; V {K/7P=. KBAJV9 /JBJ= 7V/p
AlP.q 9FAV== %J N=L= '6p
<K4 K/K6 7IJ% 9FA= 9J /4P5hq K e\ 4? 9FAV== ; U;EJV4
K9K_&6g:JV9 ;JK>V = 5L6 %J N=L K=EJ 3JV 6 /JBJ B V> U%Y
K4V6= ;'M=L
! <K4 K/K6 4? 9FA= 9J /4P5hq A;E ;JK>V = 5LV6 K9K_&6g:JV9
%J N=L K=EJ 3JV 6 /JBJ B V> K? K4V6= ;'M=L
39J "J%N K* <K4 7V4E BE <JBJ K5 B V9 74J6 K=V96
9G
{K/7P=.
J V6= 5L6 ?rK; V 7V4E 6pJ6p
AMK95J= K/K=y B V9O
O -=,3X $5=,1 *=0G2<(Aoo<K4 U J6 ?rK; U J6 :K9@p /BK9V>= A4Ap

B6 9G /BK9V>= K9K5 6M<JEL K/K6 ;JK>V = %IJ4JAB y /BK9> B V/ U J6
AMK95J 7J7p B6 /JBJ B V> /JBJ= &IJ*J K,A%J'q 9=!Jvb 9A= "B. 7AJ=.
9J %J N=L= 9AJ6 B EJ= J=V. y AMK95J B V/ /JBJV 9K/ =J <J V9 6JO
O 2Z=.G 0 B6<PO *< )< *=0G2<G(0 F.7<'Aoo 9A= K,A%J'q &IJ*J
9=!Jvb 9G %J N=L= 9AJ6 /pJK4 U 7J 6J 7K=V?J5 K=V/ B V9O
O < @0>0 *r$X7)*mAoo AJ;KE
94>L ?rK; 9p/L/ 6p U J6 ?rK;
/JBJ= &IJ*J K,A%J'q 9=!Jvb 7AJ=. 9A= "B. 9J %J N=L= 9AJV6= A;E
;JK>V = K6 * B V/ %J N=L AGzJeb K* 7/pE67 7J 9J= K5 J=L B V96O
O ,<4\L<) 5 G$ GN 'Aoo
U J6 ?rK;V = %J N=L= 9AJ6 B V>
/JBJ U /qS /JBJV 9=J T/ 9JAv]J6 &JKCEJ K4V96O
y A;VE= ;V5p 9JAv]J6 &JKCEJ 6J K4V> ;JK> ?r; J4J>V/
/JBJ= K9=^V K:V<J" U7? K=V/ 7JK=V96O
J4J>/ :E 7{V ?r9. K=EJ ;J;>JK* AGK{:JV9 K9%J=
K=V9 9G <MKyA/ A;VE= ;V5p ?rK; V 9JAv]J6K* &JKCEJ
U4 EJ= '6p K6V4q? K4V/ 7JK=V9O
J4J>/ /qS K65qJK=/ A;VE= ;V5p 9JAv]J6 &JKCEJ 6J K4V>
?rK; V
BJ B V/ 9>7P9q
V_&4 K=9J= '6p 7VEJ'6V9JV5
J4J>/ U J6 7MK>? ;q /qJV K6V4q? K4V/ 7JK=V9O
7 5J=J
= 5L6 J4J>V/= K6V4q? 7J 7MK>? ;q /qJ
J4J>V/= JV4V?= AJ=;;q 9G BJV/ /JBJ= 7V9V?= _&J
9JAv]JV6 9A9JA=/ 9pKy".V
9KB/ K=V96 9G 9JAv]J6
&JKCEJ U4 EJ= '6p /JBJK4"V eb/H &E #J A;E K4V96 9G
/H7= BJ= 4!> "BV.= '6p 9> 7VEJV"= 7PV9q BJV/
9A9JA J=L K? ".V 9JKB= B EJ JAJ= '6p AljJ9p A > AMV<J"
O 2Z=.G 0 ,40 r5#Aoo

5pJVE= 6p <JBJ K &M V>!
3J N 6J U 6 U J6 7K/JV6 K6VEJK'/ U J6 ?rK;V = 9EA
AJ/J6g 9FA=
7P.q B V> K/K6 %J N=L B V/ v2J:JK9 9A= "B. K=V96O
5J=J= VV?p 9EA <J%J VE= U{V AGK? ?rK;V = AJK:qA
9 VE K>K79 '6m /JK=! 7<My 7;J. KBAJV9 ".p B V9O
5J=J
= K95J6 6MAJV= K G9J 7K/JV6= K6'v2 %J N=L K9K5
6M<JEL 9A= "B. J=L ?rK;V = 7J7p 7J 6JK4 7K=V?J5 K=V/
B V9O
9A= "B. J=L U J6 ?rK; V
/qS7{ 7<My ;V6 K=V>
45
23
46
K4V96O
U J*q K8A 7V4E B V9 6JO

5J=J= 5L6 U J6 K:V<J"
J V6= 5L6 U J6 U8Y'4J=L
K:V<J" 9K>EJ ".p B V9 6JO
5J=JE <JBJ K &M 3J N 6J U 6 5J=J
= 5L6 74
%J N=L= 9AJV6= JV4V?= K9=^V U J6 K:V<J" =J <J V9 6J
<K4 6J 9AJV6= JV4?K* AGK? ?rK;V = U*r,
K6E6
;q JV= J=V. 39J V?p 7V.JK4/:JV9 74 B EJV& 9K>EJ
K:V<J" =J BE 39J <K4 6J K/K6 y 5J=J= 5L6 7J7p AMK95J
B V/ 9K/ B6O
O =-G/< *s=$Aoo
U> 8 &IJ*J K,A%J'q 9=!Jvb 7AJ=.
39J 6p U K/K6
K:V<JV"= J=. 9KB/ B EJ= /JK=! B V/ K? K4V6= ;V5p K:V<J"K* K>K!/
J JV= U=K'Kr ,J V<JV" ;JK>V = K6 * U7? K=V96 H
/V9 ?/q 3JV U< <K4 K6VEJ" J=L /Tq7{ K:V<J"K* A=JAK= "B. K=EJ
K>K!/:JV9 7JK v2L J= V=6 UA U{V y K:V<J"K* U=K'Kr ,J V<JV" 6J
7J+J V> %K>V9 O
;JK>
K:V<J" 7JK= 76= K4V6= ;V5p K:V<J" AlV q /4eb
K=V96 9G AGK? ?rK; V
6J6L= AMV<J" K4EJ /FAlV q
/JBJ= KAJeb K>K!/:JV9 ?rK; V 'J6J V96O
<K4 ;JK> 7 5J=J
= 5L6 U J6 KAJeb K4V/ 9p3q B6
39J AGK? ?rK; <K4 y=R7 KAJVeb Ae\ B6 /JBJ B V>
K/K6 7 5J=J
K>K!/ A;E K/zJeb B EJ= /JK=! B V/
K? K4V6= ;V5p 39J U{;/ ;JK>V = KAJVeb= /JK=! B V/
K? K4V6= ;V5p ?r; J4J>V/ K>K!/:JV9 K:V<J" U7? K=V/
7JK=V96O
?r; J4J>/ K:V<J" 7JK= 7= :E 7{V U6JK*? 74J6 K=EJ
K:V<J"K* AlV q /JBJV4= 9y9p ?r9. K=V9 9G BJ=
K9V9%6JE ;J;>J= 9v]J5LV6 U<=R7 JV4? U4 EJ 6pJEA/ UA=R7
JV4? 74J6 K=V9O
7 5J=J
= 5L6 74 U J6 JV4? J=J J4J>/ 6pJ6p
7K/ JV== ;V5p K:V<J" J=LV 9V EJ ;'M=L AB 9J &JCJ /JBJ=
%J N=LV/ 7P.9qBJ> =J= K6V4q? K4V/ 7JK=V9 9G U J6 9=!Jvb
7AJ=. 9J K,A%JV'q= JV4?V 5J=J
K>K!/ U J6
>#M 4V 7K=9K/q/ K=V/ 7JK=V9O
?r; J4J>V/= U J6 JV4? J=J AG{M U J6 9pKy JV4V?= K?
K4V6= ;V5p *rJ 9Mp6JV>= K6 * J7L> 4JVE= K=V/ 7JK=V96 9G
J7LV>= 7= BJ= KAJeb %PCJeb B V9O
5J=J= 5L6 U J6 K:V<J" 9J J7L> 4JVEV== '6p U J6
47
24
48
KBAJV9 ".p B V9O

O 4`.$< *r$X7)*mAoo
U J6 K V?J= U J6 U7?J 9J U J6 7K/JV6
JV'= '6p 7<My K 6J BJ 7=L{J K=9J= '6p AGK? K V?J= 9J /JBJ= K7/J
;J/J 9J K::J9 /qS
6M=R B V> 39J U J6 ;JK> /qS
6M=R7 :JV9
6M=R B V> U J6 U=K'J,q K%K FA K V?J=K*V 7=L{J K=V96 9G /JBJ=
A{;/J Al2V KAJeb K4V96H
/V9 ?/q 3JV U JV946K*= AV U< 7K/JV6 K V?J= %J N=L 7J3qL UA
7K/JV6= ;JK> /qS 74
;V;q 7 AGV<J'6 K=V/ B V9 U< K V?J=K*
A{; 9K>EJ 7/pKE/ B V> /JBJV %J N=L 74J6 =J B V9O
5J=J= 5L6 74 U J6 A{;/J 7/pE67 BJ 74JV6= /JK=!
B V/ 9JV=J ;JA 7<qeb 9>9F 3JK V9O
y=R7 7/pE67V= '6p 7V4E K8A ;JK> 74J6 K=V96 9G
BJ AGK? K V?J= 9J /JBJ= K7/J ;J/J 9J K::J9V = K6 *
B V/ J4JE =J <J V9 6JO
$E$>7 (X<7
= G2<0 2Z=. =)G7<
O =2z = G2<0 =)G7<G ,<(< =)G3(Aoo
U J6 U7?JE 9J 7K/JV6
U J6 K? V K6VEJ" =J <J V9 6J 9J J' K=V/ U4 EJ <J V9 6JO
U J6 U7?JE 9J 7K/JV6 U J6 K V?J=V K6VEJ" =J <J V9 6J 9J
J' K=V/ U4 EJ <J V9 6J <K4 6J
K9K5 J=J K65qJK=/ 8=V; '6 U=K'J,q K%K FA /qS /JBJV
74 A{;/J 7/pE67 ;JK>V = UB8J'V/ 3JV
9G
! JV' K6VEJK'/ 3J J JV> K/K6 y 7/pE67V= V>! Al2K>/
K* U*JV 6 9B6 V=6O
U J6 U7?J 9J 7K/JV6 U J6 K V?JV== K?{J5L6 KBAJV9 39J
9SK;P> 7K?{V.= '6p K6VEJV"= U{V 7 5J=J
= K &M
7V<J'p B V9 6JO
A= J= <K4 ;V6 V= U A= J= A= J=L U"V'V*
7J76 J=J BJV/ K>K!/ A;VE= '6p 7 5J=J
=
7VEJ" v]K"/ U#[email protected] K=V/ 7JK=V9O
O !<^<0> *0>`<0 )X <G'2 *r'<G)0 `.$<Aoo U< U{V U J6

7K=4?q =R7 ;/ U7J@. V=6 UK!/
JV'= '6p J= A{; 6VB6
UA U{V K/K6 U6JK*? ;J=8/ ;JK> V U J6 U=K'J,q K%K FA
/qS K V?J=K*V 7=L{J =J 9J= 6MV=J5 K=V/ 7JK=V96 9G
K V?J=K* y=R7 7=L{JVeb A{; 9K>EJ 7/pKE/ 6J B EJ 7<qeb
39J K V?J=K* J= K V?J= 6E
;V;q 7/pKE/ 6J B EJ 7<qeb
/JBJV U J6 J' 6J U4 EJ= '6p K6V4q? K4V/ 7JK=V96O
O =2z 49_<PO =$*7 @=^0 ,X<*<G0 ,<(< =)G3(Aoo

5pJVE= K95J6
AJV7V{ U J6 K? = ;J/J K7/J 9J K::J9 K? V U J6 JV' K6VEJV"=
6M;K/ 74J6 K=EJ JBJ= AKB/ U J6 %NKy K=V/ 7JK=V96 6JO
,X< X<oo
5J=JE K::J9 9K>V/ K? = J 6"/ UB8J'/ J=L 9J
K? = 7= /qS/i JV& ;6 U 7K=4?q 7?gK* U J6 U=K'J,q K%K FA
/qS 74 AGK? 9pKy= 9EA AGzJeb 7/pE67V= 9/q;JV6 U J6 U=K'J,q
K%K FAV = K6 * KAJVeb= '6p U7=. K=V96O
7 5J=J
K>K!/ U=K'J,q K%K FA
/Tq 74 U J6
9pKy= 9EA AGzJeb 7/pE67 /JBJ= 9EA AlV q %PCJeb 7;J.
49
O =$*7 <G = G2<0 =)G7<G ,<(<Aoo U J6 7K/JV6= <e7JK/ %J>M

9v]JE BJ 7K=vZJV== '6p BJV/ U/> 74JV6= '6p 9J BJV AMK96pvb =J=
'6p 9J y %J>M <e7JK/= #P.qJE;J6 G?}K>= ;J(!JV6 39J Kv]= 9G #P.qJE;J6
G?}K>= ;J(!JV6 U J6 K V?J=V J' K=V/ 6M;K/ U4 EJ <J V9 6JO
25
50
O =,*d) /Pe*<=$0 <G = G2<0 =)G7< Aoo

U J6 K V?J=
<e7JK/= U J6 J' K=V96 6J <K4 6J
/JBJV
y <e7JK/ AGzJeb K974 AlV q 9G
9pJ7JV=
AJ95J6/J 9>l26 AlV q AlP.q:JV9 EJV 9BJ> =JV6J BE
9G
! K/K6 <e7JK/V/ J' =J= '6p <V3 7K?{. "B. K=EJV&6
39J K/K6 <e7JK/ AGzJeb K: 9G 7MV=J7MK= J6Al6g 9pKy=
/iJ95JV6 J' V=6O
7K=4?qV = K6 * B V/ K>K!/ 7P9q 6MV;J46 9p/L/ K? K4V6=

;V5p BJ 9JV== U9?L 7K=9/q6 =J <J V9 6JO
J V6= 5L6 AJJKB &MK* AGzJeb K95J6 K V?J= ?rK;V =
U{V 7V<J'p B V9 9G
K95JV6= 7VEJ" K V?J= ?rK;V =
U{V v]K"/ =J <J V9 6JO
K4V6 U J6 K V?J=
JK5 7K/JV6 J' K=V/ 7JK=V96
6JO
O -B G-Y ,9 *<=)0 )>G = G2<G00 =)G7< =)G3(Aoo U J6 K V?J=V
:P"V:q 9J 7JK6= 6LV% U J6 JV' K6VEJ" =J <J V9 6JO
O = G2<G00 <G 0 4.G70 F)<= 2Aoo
U J6 7K/JV6 K V?J= ?rK;
K6<My 3JK V> BJV/ K9K5 J=J K65qJK=/ 7K/V/ K V?JV== ;q#J AlV q
/JBJ= JV'= K6K4q A;E V>!AB
K* U6JK*? 74?q6 K=V/ B V9O
7 5J=J
K>K!/ U6JK*V? 74K?q/ A;E J' J=lj B EJ=
7PV9q 7J 9EvZ ?rK;V = U{V U<:JV9 Kv]= =J BE UA:JV9 Kv]=
K=V/ B V9 9G BJ ;6 B V9 U<6 y A;VE ;q=/ U J6
K V?J=V
J V6= U!>J7 U J6 J' K=V/ 6J BEO
U J6 7K/JV6 ;q=/ 7P.q 9EvZ ?rK;V = U{V 7V<J'p
/4AGzJeb K95J6 7 5J=J
= 5L6 U6JK*V?= U{V
7V<J'p B V9O
A= J= K9K5 J=J y U6JK*V?= 8=; 9G BJ ={.JV9{V.= 7K/
K65qJ=. K=V/ 7JK=V9O
O =$*7 F`Gm =2z 2Z=. =)G7<G ,X=$_.Aoo
5pJVE <JBJ
K &M 3J N 6J U 6 9JV=J 9FA= 9EH7J U J6 K? V ;6 U J6 BJ> J JV'
K6VEJ" =J <J V/ 7JK=V9 <JBJ /JBJ= v2Jv]p
6gK/= '6p K976 6VB 39J
<JBJ /JBJ= K?{J "B.V K9K#g/ K=V9 6J H
/V9 ?/q 3JV U< K? <K4 K94pJ>E"J;L BE /JBJ B V> /JBJ= ;qA;E
;6:JV9 K65qJ=. K=V/ B V9 U<6 BJ /JBJ= K94pJ>E ";6V K9K#g/ 6J V=O
K V?J= ?rK;V = U{V 7V<J'p
5pJVE= A > K95J6 </4P=
Alj9 y K? ?rK;V = U{V 7V<J'p B V9O
K95J6 U 9> ;J A > <e7JK/ AlV q 7V<J'p B V9 U<

AlV q A= J= K9K ;J=8/ U#[email protected] V= U<
}K> ;6
K976 U< BJV/ 7 5J=J
K>K!/ ?/qJK4 7P=. 6J
B EJ 7<qeb U J6 K V?JV== 7V{ J' =J K%/ 6VBO
A= J= A;VE A;VE U"V'* K9K 7 JV?= ;J5pV; /peb (NIK 7P.q
JV'= U< /JK> J 7 J? K=V9
A > JV' U J6 K V?J=
K V?J=LV K6VEJ" =J <J V9 6JO
O = G2<G00 .Y Q <Aoo
U J6 K V?J=V U J6 J=!J6J 9J !K6V/
W4K6 7IJ% #J= K5 9G AJVB K? #J= K5 A;E J' K=V/ U4 EJ
B V9 6JO
U J6 K V?J=V 6p U J6 7K/JV6 W4K6 AJ/ #J= K5 9G
AJVB K9EJK>? #J= K5 A;E J' K=V/ U4 EJ <J V9 6JO
U J6 K V?J=V U J6 7K/JV6 ApJ
#K* J B V/ A J>
#K* J= ;5p9/qL A;VE U J6 J' K=V/ U4 EJ <J V9 6JO
<K4 U J6 K V?J= K5 J> J' V=6 /JBJ B V> K5 J>AB
/JBJ= JV'= U;J* A;E
J=!J6J 9J !K6= U{V AJVB &K? #J
! 6p U J6 7K/JV6= U{V AJVB J*%K>? #J = K5
B V9 6JO
U J6 7K/JV6 U J6 K V?JV== JV'= A;E 4M K* 7J>JE AL;J9
=JK!V/ B V9 9G BJ= U J6 7J>J= A;EAL;J AJVC AJ/ #J=
U9?L B V9 6JO
U J6 K V?J=V U 9>;J K* =LV>V/ K6VEJ" =J <J V9 9G
51
26
52
3JV 6O
U J6 ;KB>JV
y=R7 AMK95J 7V4E B V9 6J <K4 /JBJ= AebJ6
7AV9= A;E /JBJ= 4M 9J /V/JK5 AebJ6 'LK9/ 3JV /V9
V{V K/K6 U J6 &MK* 7J 9J= K5 J=L B V> /JBJ 7J V96O
$@&Y (X<7
*r4B=$ 1X<# 4?=,(<
O *r4B=$ 1X<# 4?=,(< *=0G2<( 49_<PO *s=$Aoo

U J6 ebHAiJ
;KB>J
J V6= 5L6 7APK/ >pJ. AMK95J 7J 9J= K5 J=L B V> K/K6 U V K>K!/ 9J U;YK! :JV9
;V;q U6JK*? K4V96 U< U6JK*V?=
J* AJVB= ;V5p /JBJ= AebJ6 7AV9= AljJ96J JV& 9G y U6JK*V? /JBJ=
;S/Mp= U{V
AMK95J K<K6 "B. K=V96 /JBJ= 6J; V>! 3JK V9O
U J6 ;KB>J y=R7 U J6 U6JK*? 74J6 6J K=EJ 3JK V> /JBJ=
AebJ6 7AV9= AJ/ K4V6= ;V5p K/K6 y=R7 U6JK*? 74J6 K=EJ
/JBJ= AebJ6 7A9 AlV q ;JK> V 9KB/ K=V96O
7 5J=J
39J
K>K!/ U6JK*? 7JK= 7= ;JK>
AGK? ;KB>JV
7 5J=J
= 5L6 U6JK*V?= U{V BJ 74JV6= /JK=V!=
7V== K46 B V/
! 7 5J=J
= 5L6 U6JK*V?= U{V AebJ6 7AV9= /JK=!
B V/ AebJ6 7AV9= 7=9/qL J* AJB 7<qeb JV' 6M7Kv]/
3JK 9J= '6p 6M;K/ K4V96O
U J6 ;JK> AGK? ;KB>J= _&J6M<JEL K6;gK>K!/ UpJ. AMK95J 74J6 K=V96 <3JH
U< U{V U J6 U=K'J,q K%K FAV = K6 * B V/
;V;q 7J
7r/pJE67 U7? =J BE U< ;KB>J= J* AJVB= ;V5p AebJ6
7AV9= AljJ96J JV& UA U{V 7/pJE67 U7? =J= 7=9/qL K/6
;q K49VA= ;V5p 7A9 7P9q9/qL J* AJVB= '6p 7V4E 7APK/
>pJ. AMK95J 74J6 K=V96 9G ;KB>J= AebJ6 7AV9= 7;J. U7?
=J= /JK=! B V/ 7=9/qL K/6 ;q K49VA= ;V5p 9K? A;VE=
'6p 7V4E y=R7 AMK95J 74J6 K=V96 39J
! ;JK>V = K6 * AebJ6 7AV9= 7;J. U7? =J= 7=9/qL K/6 ;q
K49VA= ;V5p AebJ6 7AV9= /JK=!AB BJ= 7P9q9/qL J* AJVB=
'6p 7V4E 7APK/ >pJ. AMK95J 74J6 K=V96 9G y 7;J.
U7V?= 7=9/qL J* AJVB= ;V5p 9K? U;EJV4= AMK95J 74J6
O =$*7 F`Gm .=51< 2Z=.G 0 G.Y =)G7< =)=3sAoo

U J6 ;JK>
/JBJ= 7K/JV6 AJV6 U J6 ;KB>JV /JBJ= AebJ6 7AV9= 9p9KB/ 7=9/qL J*
AJVB= ;V5p U J6 J' =JV/ 7JK=V96 6JO
U J6 ;KB>J U J6 7K/JV6 /JBJ= AebJ6 7AV9= 9p9KB/ 7=9/qL
J* AJVB= ;V5p U J6 J' K=V/ 7JK=V96 6JO
U J6 ;JK> U J6 ;KB>JV
;6 U J6 J' =J= '6p K6VEJ"
K=V/ 7JK=V96 6J <JBJ 4MuZ= 9J ?r; AJ5p 39J <JBJ= '6p 4L#q{.
4IJCJ EJ 3JK V/ BE 39J <JBJ /JBJ= '6p v2Jv]p BJK6 = B EJ=
AljJ96J 3JV <K4
/JBJ=
K9?nJA =J= J=. 3JV
39J <K4 ;KB>J /JBJV
9KB/ K=EJ 3JV 6 U< 4? AJVB= ;V5p /JBJ= AebJ6 7A9 =J=
AljJ96J JV&
! ;JK>V = 'J6J;V/ ;KB>J 7P9q9/Lq 4? AJVB= ;V5p AebJ6 7A9
K=EJV&6 H
/V9 ?/q 3JV U< %J 9J"J6 ?rK;V = U{V AGK? %J 9J"JV6=
K%K FA
/Tq </K46 7<qeb A{;/J= AJK*qK8V * 7J EJ <J V9
//K46 7<qeb y ?rK; BJ> J 5=V6= J' K=V/ 7JK=V96 9G
6M=R7 J' </K46 K/K6 K=V96 //K46 K/K6 y JV'= '6p
7%K>/ J 6 6MAJV= K65qJK=/ BJV= ;'M=L 7J V96 <JBJ 7APK/
>pJ. :J/J= K/K=y KBAJV9 7V4E B V9O
O *r4B=$ 1X<# 4?=,(< *r<=x0 =( <0 ,9 *r'<G)0 '<=7$SAoo 7V/p
;KB>J ?rK; /JBJ= ;JK>V = K6 * B V/ /JBJ= AebJ6 7AV9= AljJ9p /JK=V!=
9p9KB/ 7P9q9/qL J* AJB 9G AebJ6 7AV9= 9p9KB/ 7=9/qL J* AJVB=
'6p 7APK/ >pJ. AMK95J 7J 9J= K5 J=L B V96 9G /JBJ= ;JK> /JBJV
AMK95J 74J6 K=V/ 9J5p 3JK V96 H
/V9 ?/q 3JV UJ y=R7 AMK95J 7J V96 6J <K4 6J K/K6 /JBJ=
;JK>V = 5L6 /JBJ= AebJ6 7AV9= 9p9KB/ 7PV9q 6Mp6 &E ;JA J' K=EJ
53
27
54
K=V96 39J
" AebJ6 7AV9= 7;J. U7? =J= 7=9/qL K/6 ;q K49VA= ;V5p y
AlP.q A;VE= '6p 7V4E 7APK/ >pJ. AMK95J 74J6 K=V96 H
/V9 ?/q 3JV U<
7 5J=J= 5L6 U< 7APK/ >pJ. 9J BJ=
U J6 G? 74J6 AebJ6 7AV9= 7;J. U7V?= 7= K6:q=?L> UA=R7
U J6 7;J. U J6 ;KB>J /JBJ= AebJ6 7AV9= K/6 ;JVA= ;V5p U7?
6J K=V> K/K6
AMK95J 7J 9J= K5 J=L B V96 6JO
7 5J=J
= 5L6 U< 7;J. U7? K=V/ B V9 y 7;J. '6m
;S/Mp K696 J 6
AV6= 6G J 6 = 5L6
74 '6m U=K'JV== A/pJKE/ SK/ 39J U J6 U=K'J,q
K%K FAV = 7/pE67 39J ;JK>V = K6 * "B.V<J"p 6p U J6
7;J. B V/ 7JK=V9O
y=R7 AMK95J <K4 7V4E AMK95J B V/ U9?L BE /JBJ B V> BJ

J= U8=/ > V/ 7JK=V96 6J 9G ;KB>J= ;S/Mp= A;E 7<qeb <K4
;JK>V = K6 *
9J94 K &M 7J 6J 3JV /JBJ B V> K/K6
5pJVE= 5L6 ;KB>J= U J6 ;V6J6L/ 9pKyV
39J U J6
;V6J6L/ 9pKy 6J 3JK V> /JBJ= J 6"/ 7K/K6K5V BJ 74J6
K=V96O
O =$*7 F`Gm .=51<0 < @0>0 ,4<G) ,<(<Aoo <K4 U J6 ;KB>J=
AebJ6 7AV9= 7P9q9/qL &E ;JA 9G AebJ6 7AV9= 7=9/qL J* AJB U;EJV4= ;V5p
/JBJV %J N=L B V/ K,A%J'q 9=!Jvb 9J 7AJ=. =J= '6p 39J /JBJ= %J N=L
6p:JV9 9AJV6= '6p ;JK> U J6 U6JK*? 9J JV4? 74J6 V=6 9G y=R7
U6JK*? 9J JV4V?= <K4 <V3 U J6 J=. 6J 3JV /JBJ B V>
U6JK*? 9J
JV4? 74J6 6J =J B V>
5pJVE= 5L6 AGK? ;KB>J U< 7APK/ >pJ.
AMK95J 7J 9J= K5 J=L B V/6 BJ B V/ K/K6 9K/ B V96 6JO
O *r4B=$ 1X<# 4?=,(<0 *=0.<#Aoo

J V6= 5L6 U< 7APK/
>pJ. AMK95J 7V4E B V9 BJ 7 5J=J
K>K!/ 7e]JE ".6J K=EJ
W4K6 AJJKB 9J ;JKA U< U{V <JBJ 7V<J'p "C ;'M=L BJV= AlP.q 6"V4
74J6 K=V/ B V9O
7 5J=J
= 7VEJ'V6 W4K6 AJJKB 9J ;JKA "C ;'M=L
".6J= '6p AGK? ;KB>J /qS
5pJVE= 5L6 U6JK*?
74JV6= 9p9KB/ 7P9q9/qL K/6 ;JVA /JBJ= 7J U;J* ;'M=LV y
A;VE /JBJ= U;J* 7 T/ JV'= K46}K> J=J :J" K=V/ B V9O
O .=51<0 .D$?X0 F`Gm *r4B=$ 1X<# 4?=,(< *r'<)Aoo
5pJVE=
5L6 7APK/ >pJ. AMK95J 7J EJ= K5 J=L U J6 ;KB>J AebJ6 7A9 JV> 39J
BJ= 7=9/qL J* AJVB= ;V5p ;S/Mp9=. K=V> ;JK> K? AebJ6K* <K4 9IJK%EJ
3JV U< 9pKy K? = /iJ95JV6= 4JKE/i "B. V=6 /JBJV
9G <K4 K?
AebJ6 'LK9/ 6J 3JV /JBJ B V>
5pJVE= 5L6 ;KB>J= ;V6J6L/ 9pKyV
39J U J6 ;V6J6L/ 9pKy 6J 3JK V> ;S/ ;KB>J= J 6"/ 7K/K6K5V y=R7
AMK95J 74J6 K=V96O
<K4 y=R7 U J6 ;KB>J 7APK/ >pJ. AMK95J 7J EJ= K5 J=L
B EJ= A;E AL;J= ;V5p K e\ AebJ6 7AV9= 7PV9q ;J=J <J6 /JBJ
B V> ;JK> y ;KB>J= ;S/Mp= /JK=!AB /F7P9q9/qL A;VE= '6p
y=R7 AMK95J 74J6 K=V/ 9J5p 3JK V96 /V9 K/;V5p 74
55
28
56
*g. (X<7
/pK5
_% /J7 ASK B EJ= AljJ96J 3JV UAV{V U< FA
B V/ y=R7 _% /J7 ASK B V/V& BJV 9J BJ= G?V
/J7 7K=9JBL 9v\ J=J ;MKCEJ 9J 6p U J6 7e]JE ?rK; "V.= ;q
{ B V/ J>J4J =J= '6p </4P= Alj9 7<My 9p9v]J "B.
K=V/ B V9O
<K4 A= JV== K6 * BJ 7/LE;J6 BE U &J4 9J 'J6J>J %N6 J; K=EJ
Uv7 K=EJ 39J /J7 7K=9JBL K=EJ 9J 74qJ K4EJ 39J
&JV4= _%/J 9SK K=EJ 39J 6p U J6 K9V?@ 7e]JE BsJA =J
Alj9 BE /JBJ B V> A= J= y 7K/JV6 K>K!/ U B V/ K/ 4PK@/ 9Ju
B V/ ;My =JK!V/ B V9 9G K9V?@ K=EJ
7K/JV6= U;V( ;q { KAKC <J/JEJV/= 73 B V/ 7K/K46
(JCa K4EJ ;E>J
J9'q6J 7<My 7e]JE 7AJ=. K=V/ B V9
! 7V/p ;q V{= U;V( AJVB eb/H K46 U5Y/ K=V/ B V9
9G 7VEJ'V6 U5Y/ JV' 'L9J6M6J? 9p9BJ= K=V/ B V9
" U< U{V U J6 F7J46 7KzEJ= J=V. U J6 U;V( ;6:JV9
K:K'EJ <JE U< BJ= '6p 7JK6 K6uZJ?V6= 7VEJ'6 BE UAV{V
7JK6 K6uZJ?V6= 7<My 9p9v]J K=V/ B V9
# 7K/JV6= A > J:peb=L. U4 EJ> 7JK*q?6 &J4 KAKC
<J/JEJ/73
=G 39J 9JK6q? =J 3JK V> 7V/p K/6 9FAV= eb/H
9J= 7M6H =G 9J 9JK6q? K=V/ B V9
=G 39J 9JK6q? =J 9G 9KB:qJ" ;AS. B V> 7K/ U%Y ;JVA
eb/H 9J= BJ K9K5J=J K65qJK=/ 7e]JE 7K=uZJ= K=V/ B V9
6pJ6p U{V 7K/ U%Y ;JVA eb/H 9J= %N6 J;
9J =G K=V/ B V9 9G
$ 48J # U/ K>K!/ J<qJ9>L Al6g =J= /JK=! K9K5 J=J
K65qJK=/ U=K'JV= K>K79 K=EJ =JK!V/ B V9O
O (B1< ,<=1 F(;<7<Aoo

U J6 7K/JV6 F7J46 7KzEJ %>J= J=V.
<K4 U J6 5M>J 9JK> 9J U5IJEJ 9J 6p U J6 4PK@/ 9v\ ;6 7 TK/= 9J ;6
7K=;JV. K6"q/ BE U< BJV/ UA!JV6 ;q=/ ?rK; "V.= 7V{ v2Jv]p BJK6= 9J
v2Kvb = B EJ= AljJ96J 3JV /JBJ B V> U J6 ;q V{ BJ <JBJV/ 'K;V/ 6J
7JV= 9G ?rK;V = 7?nJVA= AJV3 ?=LV= 7V9? K=V/ 6J 7JV= BJ= J<q =
9p9v]J "B. K=V/ B V9 9G
VV?p <K4 U J6 K6"q;6 <e7JK/= 7VEJ'6
BE /JBJ B V> BJ y 5P>J 9JK> U5IJEJ 9J 6p 4PK@/ 9v\= FVA= </4P= Alj9
J&J JK& v]JV6 v]J76 K=V/ B V9 9G
v]J6 </4P= Alj9 K#K=EJ =JK!V/
B V9O
U J6 7K/JV6 U J6 eb4qB K6 %J>JV6J <J V9 6J <K4 6J BJ=
9JuJK4 K6"q;6 73 6mMy 9J/JVA= K4V BE 9G U J6 eb4qB
K6 U J6 ;q V{ %J>JV6J <J V9 6J <K4 6J ?rK; "V.= v2JVv]p=
7V{ {K/ = B V/ 7JV= BJ B V/ K6"q/ ;6 U5IJEJ ';J 6J
B EJ= '6p J<q = 9p9v]J "B. =J BEO
O ,<7? 1< 1 $<*.<m<Aoo

7V/p 7K/JV6= 7K/K* ;q
V{ K6;q> 9JEM 79JVB= '6p 7<qJ 9JEM %>J%> 9p9v]J =JK!V/ B V9O
y=R7 7V/p V{ ;6 /J7;JJ 9'JE =JK!9J= 7<My 9p9v]J
=JK!V/ B V9 <JBJV/ UA!JV6 ;q=/ ?rK; ". U;J*J;MK* J=JV;
J' K=V/ 7JV=6 9G <JBJV/ ?rK; "V.= v2Jv]p BJK6 U=J5 BEO
7 5J=J
= 7VEJ'V6 V{= U4 EJ> 9G &J4 ;6:JV9
W/=L K=V/ B V9 <JBJV/ y /J7;JJ 9SK 6J 7JE 9G </4P=
Alj9 ; 3JV O
U< U{V U J6 7K/JV6= JV'= 7 TK/ ;6 BE U< BJV/
57
O , YX *'<&Y *4<0#Aoo 7V/p 7K/J6V

BJ= F7J46 7KzEJ=
J=V. AS U J6 9'qp 74J3q 7AJ=. =J= '6p <3J<3 9p9v]J "B. K=V/ B V9O
O E=m. <'ZY 0#Aoo
<K4 U J6 7K/JV6 9J/JVA= J4rq/J TK;
7JVE 9SK =J BE /JBJ B V> UA VV?p 9p9/ 7JK6 A= J=L 7JK6 A=9=JB
9p9v]J B V/ 39J 6p U J6 7J6LE 'V>= FA B V/ AG"B K=V/ B V9 39J
BJ 9p9BJV== 7PV9q 7<My:JV9 U?J56 K=V/ B V9O
29
58
<K4 U J6 7K=4?qV = K6 * BJ 7/LE;J6 BE U< y VV?p

9p9/ U J6 7JK6 7 5J=J
= K95J6 6M<JEL J<q =:JV9
U?J56 =J BE 6J /JBJ B V> K/K6 ;JK> V K>K!/ JV4? K4EJ
JV4V? K>K!/ A;VE= ;V5p BJV/ K>K!/ 9p9v]J "B. =J=
K6V4q? K4V/ 7JK=V96O
O *<) 0<0 *<=)Aoo 7V/p 7K/JV6 BJV/ ;q=/ A > ?rK;V =

7J6 =J= '6p BJ= U J6 AMK95J'6 v]JV6 7<qJ K9 7JK6 A=9=JVB= 9p9v]J
K=V/ B V9O
7V/p 7JK6 A=9=JVB= v]J6V 9JG>JE 7J6 =J= 7JK6 3J}K>
v:JV9 K>K!EJ K4EJ K%K/ K=V/ B V9O
U< A;vb 7K/JV6 AJ5J=./H 4M ?/ 7J? '6 9J /V/JK5 ?rK;
K6<My 3JV 6 UA A > 7K/JV6 "Luo JV> 7J6 =J= 7JK6 +JJ
K=EJ A=9=JB =J= 9p9v]J K=V/ B V9O
;JJK/K=y /J7 V4r J=L <Ve= AK6g V* J' =J= J=V.
?rK;V = ?=LV= 7JK6 ?P6p/J= ASK B V>
A > ?rK;V = '6p
=J> K=BJ V,r?6 U3=JK7= 9p9v]J K=V/ B V9O
O =$=0^ ->6Aoo
U J6 7K/JV6= U J6 ;q V{ BJV/ ;q=/
?rK; "V.= v2Jv]p BJK6 BE
7 J= K/K=y :LC =J <J V9 6JO
7K= y K95JV6= BJK6 6J K=EJ 7V/p ;q V{ ;q=/ 7V/p
?rK;V = '6p eb/H
K K9 K;*J= 7K=;J. 'JE"J= 9p9v]J
K=V/ B V9O
,X< X< :
7 5J=J= 7VEJ'V6 U J6 #V== _%/J U;V( B V/
K;*JV==
K5 B V> BJ K9V9%6JE J6J B V9 6JO
<K4 75J6 7K=4?q K>K!/ JV4? J=J U J6 ;JK> V
6MV=J5
V=6 /JBJ B V> U J6 7K/JV6= 7V/p
;q V{
5J=J=
K95J6 6M<JEL AV9qJ_% /'6 U>J
J' K=V/ 7JK=V96
/FAlV q /JBJV
K* U6JK*? >* J EJ K4V/ B V9O
75J6 7K=4?q K>K!/ JV4? J=J U J6 7K/JV6= ;q {V
5J=J= K95J6 B V/ U=BJ K4V/ 7JK=V96 <K4 K/K6
;V;q Ae\
B6 U< BJV/ ;q=/ ?rK; "V.= v2JVv]p= 7VEJ'V6
K95J6
;J6J= 7VEJ'6 6J O
O *<7 <)< F*2<, <)<Aoo 7V/p 7K/JV6

BJV/ ;q=/ ?rK; ". JV'= A;VE <JBJV/ ABV' 9p9BJ= K=V/
7JV=6 =R7 AMK95J'6 v]JV6 K9K5 J=J K65qJK=/ 7 JV= 7VEJ'6LE AG!p
7JE!J6J U7?J9 !J6J= 9p9v]J K=V/ B V9
! y 7JE!J6J U7?J9 !J6J 7M=^@ 9G ;KB>J ?rK; "V.= '6p
v2/e:JV9 9p9v]J K=V/ B V9
" 7JE!J6J U7?J9 !J6J}K>V/ <V3 JV>J 9J/JA 9G AJ9q{K.
7JK6= 9p9v]J =JK!V/ B V9 9G
# y 7JE!J6J U7?J9 !J6J 'L9J6M6J?
7K=uZJ= 9p9BJV==
;J5pV; A9 A;E 7K=uZJ= v2Jv]p Alo/ =JK!V/ B V9O
O <G1<0 ,X,\L<Aoo U J6 7K/JV6= 7V/p GV? U<!JV6 ?rK; ".

J' V=6 9J <J/JEJ/ V=6 <V3 v2J:JK9 9J TK; 9J :EK95 JV>J= 9p9v]J
K=V/ B V9O
7V/p 7K/JV6= ;q { JV>JK / =J= '6p 9p9/ A >
IJV%= 'J6J>J 9G &JV4 9AJV6J 'J6J>JA;PVB= :E 7J?nq 7K=uZJ=
=JK!V/ B V9 9G </4P= Alj9 7K/9 /J ;My =JK!V/ B V9O
7V/p 7K/JV6
U J6 v2_& 74J3q 9J 9JK/ B V/ K9_&MK=/ 9J 7K/8K>/
JV>J _&*J 39J
! U J6 ?rK;V = U%JV!= 7= %J7 7KCV/ 7JV= 9J /JBJ=
4M#q*6J= (IMK 3JK V/ 7JV= =R7 U J6 &JEJ ASK 7K/V=J5
K=9J= '6p J<q = 9p9v]J 3JK V/ B V9O
59
O <, Y)< ,<a =* '<)>Aoo

7V/p 7K/JV6= AMK95J'6 v]JV6
<V3 AG!p
J9'q6J U8>J= 9J| K7 4J6L= 9p9v]J 3JK V/ B V9 9G
}K>V 7K=uZJ= v2Jv]p Alo/ 9v]JE =JK!V/ B V9O
U J6 7K/JV6= JK6J= ;V5p U J6 9pKy 6M=R7 9J| K7 4J6L
9p/L/ 6p U J3J ;E>J J9'q6J K G9J 3M3M U8K>V/ 7JK=V96 6JO
K95J6 9G BJ >G#6 ?JKvbV<J"p 7=J5 BJ V>! K=EJ
7V/p 7K/JV6= K9K:6g 7<My v]JV6 =R7:JV9 U6JK*? >* J EJ
K4V/ B V9 <JBJV/ BJ ABV' A V>= 4SKV"J%= BEO
30
60
3| (X<7
7V/p 7K/JV6 AJ5J=. 9KB"q;V.= '6p 9p9/ 73 9p/L/

K"g J JV> 9KB"q;V6= '6p 9p9BJ= =J <J V9 =R7 7V/p
'J6J>J 4='J 9J 6p U J6 9KB"q;6 73 v:JV9 >J> =G J=J
9JG>J {V= 39J 6p U J6 AB'V9J5p 7 JV= K%K/ K=V/
B V9O
7V/p 7K/JV6 BJV/ ;q=/ 7V/p ?rK; V
K"g JV= 9J
K97V4= A;E /FAlV q K?EJ= =J= '6p v:JV9 ?r9.V<J"p
K?EJ=L AGV V/= 9p9v]J 3JK V/ B V9O
7K/JV6= 7V/p V{ ;q=/ ?rK; "V.= K"g JV= A;E K9K:6g
9KB"q;6 7V3 U7IY&J= ABJE
K* 9J5 7V3= 9p9v]J =JK!V/
B V9O
U< 7K/JV6 BJ= 6L% />J= 7V= U J6 'JE"JE AJ5J=.:JV9
4?'6 9J /V/JK5 ?rK;
;q=/ 3JV 6 39J K9VJ= 9J
K/4JBp 74J3q 9p9/ BE 39J }4J;'J/ =J BE UA 7K/JV6
K"g J JV> 9KB"q;V6= 7JE AlV q A > ?rK;V =J <JBJV/
AM7K=K%/ 3JV 6 9G y A;VE /JBJV4= K K
=.LE B V9
/FAlV q /JBJ=J <JBJV/ 7K=7P.q 7K?{. >J: K=V/ 7JV=6 UA
K9@VE J<q = 9p9v]J "B. K=V/ B V9O
7J? 9J //K5 ?rK; ;q%J=L Al2K>/ J=!J6J 7K/JV6 7K/
9FA= eb/H
9J= K"gK69qJ76 ;BCJ= JVEJ'6 K=V/ B V9
9G
K9@VE ;JK>
/Tq K65qJK=/ 7e]JE
K* U= ,q 9M
AG={. K=V/ B V9O
=)0<*k<
O -,) /Pe*<=$0 =)0<*k<Aoo
<K4 U J6 7K=4?qV = K6 * BJ
7/LE;J6 BE U K/K6 ;JK>V = K6 * K>K!/ JV4? 'J=L K=EJ
BJV/ K>K!/ K6K4q A;VE= ;V5p /JBJ= ;V/ K K 9p9v]J "B. =J
7VEJ'6 BJ "B. K=9J= K6V4q? K4V/ 7JK=V96O
<K4 U J6 7K=4?qV = K6 * BJ 7/LE;J6 BE U K/K6 ;JK>V = 7= K>K!/ JV4? 'J=L K=EJ BJ
<3J<3:JV9 U;=J;/ 9J 7K=9/q6 6J =J 7<qeb BJ= 9p9BJ= K6K@
K=V/ 7JK=V96O
O = R <j 4UG Y 4$ Y$< ,1U%)Aoo
7V/p 7K/JV6 K9K5 J=J
K65qJK=/ :JV9 K"g JV= A;E 7V/p />J= AJV3 AGV<J" ={J J=L eb/H K*
K9 KAIKCAB 9KB"q;V6= 7JE 9G K"gK69qJ7 A=JV;= 9p9v]J K=V/ B V9O
<K4 U J6 7K=4?qV = K6 * BJ 7/LE;J6 BE U< 7 5J=J
K>K!/ K9K5 6M<JEL 9KB"q;V6= 9p9v]J =J BE 6J /JBJ B V>
K/K6 ;JK>V = 7= K>K!/ JV4? 'J=L K=EJ BJV/ K>K!/
A;VE= ;V5p /JBJ= ;V/ K K 9p9v]J "B. =J 7VEJ'6 /JBJ
/JBJV 9KB/ K=V96O
7V/p 7K/JV6 U J6 { B V/ 9KB"q;V6= 73 /J>J9 9J
J* J EJ =J!J <J V9 6J <JBJV/ U J6 9pKy V{= K:/V= ;q=/
3JK V> BJ /F{.JF K:/= B V/ ABV' U!J>J <JE 9G
7 J=
A > 4='J <K4 6J }K> vJ K,G *J V7= BE ;6:JV9 X/=L
K=V/ B V9 U<6 BJ 9JKBV== K4V U!J>J <JE 39J <K4 U J6
4='J 4M K* V{= ;J(!JV6 BE /JBJ B V> BJ :9V6= K6 */;
9KB"q;6 7V3= J&J JK& K4V U!J>J <JE 9G
7 J= U J6
4='J V{ J' %>J J>L6 A;VE /J>J9 9J 9J5J "v] 9v]JE =J!J
<J V9 6JO
61
31
O /Pe*<=$ = =07< 0< <Aoo 7V/p 7K/JV6 BJ= K6;gK>K!/ <e7JK/

"K/ Al6g 9J 9p9BJV= 3J J= A;E 7<qJ K6;qJ. 9p9v]J J=J ;'9M/:JV9 K#K=EJ
=JK!V/ B V9 <3JH
U J6 7J ; U;J:J= <Ve= 7V/p #P.qJE;J6 G? 9G BJ= AKB/
AG<My 7V/p 8tJ >
! 7K/K* EJ*J= > 9G EJ*J= *J=9J V6= :E ;M!
" U>4 U;K?V6= ;M! K/z; J=L 7K/K* 9JV== G? 9G
# <K4 6J K6;gK>K!/ <e7JK/}K> ;6 9v]JE 3JV 9J ;6 :JV9
K6K;q/ BE U<
}K> ;'9M/:JV9 U#=J 3JK V> 7K/JV6 ;q=/
7V/p ?rK;V = '6p U<=R7 K6=J74 B / UA=R7 K6=J74 JV&oo
W94MpK/ U'6JV=*= U;J*= 9J U=J*J=L 6:J*qJV== 7V/p K*
62
G?
*rJK;?6 <e7JK/= 7V/p K* G?
U/ U J6
<e7JK/ 7=L{J 9J %J>M K=EJ U4!J= #*6JK* 5/qV9p J6J B V9 6JO
<e7JK/ K#K=EJ =J!J AlV q
J V6= 6p U J6 K95JV6= BJK6
6J K=EJ #P.qJE;J6 7V/p U?8* Kv6,> > 39J K7K6E6 =
7V/p UA* v[M U9J 9G %JK9 9G %J>M A > vJ= EJ;q 9G
6pJ6p 4IJ/ EJ>J 9J K8s ?6 K"EJK=G <JBJ= AGvV?q U J6 ?rK;
JKAV/ 9J5p y=R7 AGvV?q JAJ (MIK ;My =J= '6p K>K!/
> J ;'9M/:JV9 K#K=EJ =JK!V/ B V9O
! <!6 U J6 ,rJ K:G U9 9p9BJV= 3JK V9 6J /!6 BJ U J6 %>eb

U?8V*= 7= =J!J <J V9 6JO
7V/p 7K/JV6 7V/p
;q V{ %>;J6 <e7JK/ B V/ '=^=L
9v]JE ?Ky K9K_&6g K=9J= '6p 7<My 9p9v]J 3JK V/ B V9O
O \%79=_7 /Pe*<=$Aoo U J6 7K/JV6= U J6 v2EGKzE <e7JK/= U J6
%>;J6 G? 9G BJV/ 9JKB/ U J6 4r9p <JBJ= 7= K4EJ %>J%> V= BJ <K4
;6 U J6 v]J6 BE <JBJ= 7= K4EJ U J6 9pKyV /q9p AlJ46 9J 6p U J6
J=V. %>J%> K=V/ BE /JBJ B V> y <e7JK/= G? 6VB ;6 U J6 Kv]=
J+JV;J B V/
UAH K;H = ;V5p BJV 9KB;Mq!L 39J eb;Mq!L %>J%> K=V/
U4 EJ <J V9 6J H
/V9 ?/q 3JV U<
J 6 9>9F B 9J= 7PV9q
5J=J= 9pK/z; :JV9
v]JK7/ U J6 <e7JK/V 75J6 7K=4?q /F /qS K65qJK=/ BJ= K6=J7J Al2V
9p9v]J "BV.= ?V/q BJ= 9p9BJ= 9pJB/ =JK!V/ 6M;K/ K4V/ 7JK=V96O
O 1.<) /Pe*<=$0 *G0 ,< =) G < Aoo U< U{V U J6 7K/JV6

5J=J
= 5L6 %>;J6 U J6 <e7JK/= U J6 G? 7=L{J= 7VEJ'6 BE 39J
y=R7 7=L{J= 8V> %>;J6 <e7JK/= U9 %CJV6J 9G 6J;JV6J W/>Jy =.
39J AMK96pvb =V.= U J6 J' K=V/ BE UAV{V y=R7 7=L{J 9J %J>6J
/49pJ7JV= K9V?@:JV9 7K?{.7J U J6 7M=^@ ?rK; J=J 7K=%JK>/ B V/
B V9 9G y ?rK; V
A;VE JV*J AJV*J U7J@J 7K=V/ B V9 9G /JBJ=
6J; /4 VV?p K65qJK=/ U=K'JV= K>K79 3JK V/ B V9 9G <!6 y
?rK;
7 J= JV' K6<My 3JK V96 UA A;E K/K6 U J6 #P.qJE;J6 7MK>V/
AG<My U9 6JCJ%JCJ K=V96 6J <K4 6J U9K* 7Vv]
UAH K;H = 6LV% BE
9G BJ= U'JCJ A;/> K8/J K4VE J* JV6J 3JV O
A= J= A= J=L U"V'V* 7J76 J=J U J6 K6K4q 7K/JV6= U J6
<e7JK/= #P.qJE;J6 U J6 K6K4q GV?= 7K=uZJ= =. W/>Jy =.
AMK96pvb =. K6K@ K=V/ 7JK=V9O
O )$@) /Pe*<=$ <,D$ 0<Aoo

J 6 9>9F B 9J= 7= U J6 7K/JV6
v]JK7/ ?Ky %JK>/ 7V/p K* <e7JK/=
UA* v[N U9 39J %JK9 39J U J6 #P.Eq ;J6 U?8* Kv> >
39J K7K6E6 ;6:JV9 U7JK3/ J9S/ 39J 6p U J6 J<q =
K6=J7J;P> 9p9v]J K=V/ B V9 <JBJV/ K974 K6V=J5 =J <JE
! A > vJ= EJ;q 9G 6pJ6p 4IJ/ K9K? K"EJ= 9p9v]J <JBJ %>eb
9v]JE #6 #6 K96pvb =J= 7VEJ'6 BE 6J AlP.q:JV9 J9S/
K=EJ =JK!V/ B V9 <K4 6J BJ ;6:JV9 9Kv]/ BE U< BJ
J9S/ 3JK V> U<=R7 K6=J74 B / UA=R7 K6=J74 3JV O
O F_) ,9 )X<)X Gk<1) /Pe*<=$Aoo U J6 7K/JV6 BVE 9G
K>8* 9p/L/ A > Uz6 9G 6pJ6p VJ>6 <e7JK/ AlV q K6;gK>K!/
K95J6}K> 7V<J'p B V9 <3JH
Kv]= 39J %>;J6 EJK qG K"EJ= =M K? > 9G U6J= 9J 96
AlK q/ <e7JK/AB BJ= 7V/p G?
7<qJ ?Ky?J>L ;'9M/ 74J3q K4EJ ;=RV7 W/=L B V/
B V9
<3J<3:JV9 ={.JV9{. K=V/ B V9
7K/ 9JV=J ;JVA eb/H
9J=
'6 7<My 9pKy J=J
O ~ZZ< = 9 = 7<0 ,9 2=^ 40,0<5 =,=N )R 0<0 *PL<Aoo

7V/p
7K/JV6
7<My rJ K G K"EJ= 9G 6pJ6p J<q = <JKe A=J; AG={.
=J B V9 <JBJ *rJK;?6 <Ve= eb:Mqy 4r^/ 9G ?3 7MK>V/ 9J
7MK> B V/ ,rJ K:G U9V %J>JV6J= '6p 9p9/ B V9 9G
y=R7 K"EJ= 9J > J ;6:JV9 7v\/ v]J76 AG={. K=V/
B V9 U<6 y U9V= 73; 7MK>V/ zMK7G U9 K6V=J5 =J <JE
63
32
64
AlP.q:JV9 7=LK{/ B V/ B V9 9G y=R7 7V/p 7=L{J

AGzJeb K9K5 J=J K65qJK=/ K9@EJK4 K>K79 K=9J= '6p K*
U=K'J= 3JK V/ B V9
! y=R7 <e7JK/ J=J BJV/ K>K!/ 9B6 {;/J= K/K=y U J6
U9J(J 9B6 =J <J V9 6J
" Uz6 J=J J#J/7J B EJ= J?G J JV& =R7 U J6 v]JV6 U J6
%>;J6 UzV6= > U*rV U J6 9pKy J' =J J>L6 A;VE <JBJV/
Uz6K* y v]JV6= &E K;*JV== ;V5p U7IY&J V/ 6J 7JV= /JBJ=
J<q =L 9p9v]J "B. K=V/ B V9O
O 5G7~ ,9 =1+ Aoo 7V/p 7K/JV6 7V/p BVE 9G K>8*
7<qJ ?Ky?J>L ;'9M/ 74J3q K4EJ ;=RV7 W/=L B V/ B V9
! <3J<3:JV9 ={.JV9{. K=V/ B V9
" 7K/ &E ;JVA eb/H 9J= '6 7<My 9pKy J=J AlP.q:JV9
7=LK{/ B V/ B V9 9G y=R7 7V/p 7=L{J AGzJeb K9K5
J=J K65qJK=/ K9@EJK4 K>K79 K=9J= '6p
K* U=K'J=
3JK V/ B V9O
7V/p 7K/JV6 7V/p BVE K>8V*= %>J%> 73 4='J AG<My
K#=J J=J :J>:JV9 AG=K{/ 3JK V9 BVE 39J K>8* 9G
y=R7 K#=J ;6:JV9 W/=L K=V/ B V9 U<6 U J6 9pKy 9J 9v\
y BVE 39J K>8V*= U J6 GV? 9G U J6 Kv]= J+JV;J 9J
%>;J6 GV?= ;J(!JV6 J* J EJ 6J <JEO
7V/p 7K/JV6 7V/p BVE 9G K>8V*= "JVE BJ= K6=J74
9B6 {;/J 7K=uZJ=:JV9 K>K!EJ =JK!V/ B V9 9G
5J=.
{;/J= K/K=y U J6 U9J(J 9B6 =J <J V9 6JO
7V/p 7K/JV6 ;J6M@ 9B6 J=L 7V/p BVE K>8V*= !IJ%J=
:E 7JV?nq +J 6J;J =J= '6p 7V9? 73 3JK V9O 7V/p BVE
K>8V*= AV9Jq_% 5J=. {;/J 9JG>JE v {V= K>K!EJ =JK!V/
B V9O
7 5J=J
9G
K>K!/ 7V/p 4='JE ;6:JV9
f*J=>
39J 6p U J6 J<q = 9p9v]J 3JK V9 <JBJV/ BJ
K6K/ =J <JE U< <!6 BJ 9/=. 6J V= /!6 U<6 U!J>J 6J
<JE 9G 4='J 9 6J =J 7<qeb !IJ%JK* <JBJV/ %>;J6 6J BEO
J 6 79/qV6= 7= v]JK7/ 39J 7P6HK6K;q/ U J6 7K/JV6=
65
7V/p K* BVE 39J K>8V*= U{V K6;g9K.q/ K/K=y 9p9v]J9>L

7V<J'p B V9 <3JH
U< U{V !IJ%J =K? 9J K? V>= 7= K6:q=?L> UA U{V
;7V{ 4M K* =K? 9J K? > 7S3 :JV9 !IJ%J= AV AG<My
3JK V9 9G BJ= :J=AJ;p ={J K=V9 9G 7V/p =K?
K? > ;6 B V/ B V9 U<6 BJ AV9qJ_% :J=AB !IJ%JK* 9B6
K=V/ 7JV=
! =K? 9G K? > K&KCEJ <J EJ= U{V AV9qJ_% :J=AB !IJ%JK*
U<6 (N>J EJ =J!J <JE BJ= J<q =L 9p9v]J "B. K=V/
B V9
" !IJ%J= K/K=y "K/ K6Ee. =J= '6p <3J<3 v2EGKzE
9p9v]J 3JK V/ B V9O
J 6 9>9F B 9J= 7PV9q 7 5J=J
= 9pK/z;:JV9 U J6 7K/JV6 v]JK7/ U J6 BVE 9J K>8* U
75J6 7K=4?q /F /qS K65qJK=/ BJ= K6=J7J Al2V 9p9v]J
"BV.= ?V/q BJ= 9p9BJ= 9pJB/ =JK!V/ 6M;K/ K4V/ 7JK=V96O
O B#Y7.<) /Pe*<=$Aoo U J6 7K/JV6 "J KG 7KzEJ 7K=%JK>/ BE
= ; 7V/p
V{ 9p9/ 7V/p <Ve= "JVE 39J BJ= K6 V* v]JEL:JV9
K6;gK>K!/ K9@E 9.q6J K=EJ K* U6JK*? >* J EJ 9J AJK*EJ K4V/ B V9 <3JH
7V/p "J UJ6 39J V9rJKA: V>= AV9qJ_% K6=J74
"K/AL;J
! U< U?8* 39J Kv> = 7= %J JK* v]JK7/ BJ= "K/
" K6=J74 "K/ K6K/ =J= '6p 7VEJ'6LE y=R7 U?8* 9J
KvV>= 7= v]JK7/ 7MK>= 7K=AL;JO
y U6JK*V? K>K!/ "K/ K/z; =J <J V9 6JO
7V/p "K/?L> J5J= !IJ%J (NKC 8tJ > 7MK> K,vZ 39J
?Ky J=J %JK>/ 6M=R7 <e7JK/ /JBJV4= K65qJK=/ "K/ <JBJV/
K/z; 6J K=V/ 7JV= BJ= '6p J<q = 9p9v]J "B. K=V/
B V9O
O F*r4<0 *X<Q AooU< U{V U J6 7K/JV6= F7J46 7KzEJE K6VEJK'/
U J6 7pJf* 9J <e7JK/= U J6 G? v2J:JK9 9JEM %J7 V7{J K5 %JV7
7K=%JK>/ BE UA U{V U<6 BJ BJ= K6=J74 %J7 K/z; 6J V= /6p
33
66
7VEJ'6LE 9p9v]J "B. K=V/ B V9O
=J= '6p K6V4q? K4V/ 7JK=V96 <3JH

y :96 =JvbJ <e7JK/ 9J 7pJf* K6=J74:JV9 9p9BJ= =J <JE
K 6J BJ K65qJ=V.= '6p 7VEJ'6LE 6 ?J 9G 6pJ6p /3p 9J
K99=. A=9=JB =J
! U J6 K6K4q GV?= ;J6 9J ?Ky K65qJ=V.= '6p 7VEJ'6LE 7=L{J
7K=%J>6J =J 9G BJ= 8>J8> 7K=4?q V 9KB/ =JO
O F.G
=4;=6 ,9 /<$<7<$ *&Aoo 7V/p 7K/JV6

A > U;V( KAIKC %>J%> 73 ;'9M/:JV9 K6;qJ. K=V/ 9G
<3J<3:JV9 AG={. K=V/ B V9 9G 7VEJ'6 B V> BJV4=
K6=J7J K6K/ =J= '6p ;'9M/ U=K>G = 9p9v]J K=V/ B V9
! U< v]JV6 U J6 A;VE U J6 9pKyV
J' K=V/ BE UA v]JV6
<J/JEJV/= '6p <MKy AG"/:JV9 </4P= Alj9 K6=J74 <J/JEJV/=
9p9v]J K=V/ B V9 9G
"
;qvBV>= A > U8tJ= %>J%V>= 73 KAIKC 7K=_&6g 7?vb
9J5J9 BL6 B V/ B V9O
O =* 4<U 4?6c .? $X<='Aoo U< U{V U J6 7K/JV6= U J6 Kv]=

IJ5J= P7 "/q 39J AMC 73 ;6 BE U< BJ= ":L=/J 9v]J6 K6;qJ.
39J :peb=Lv] 9v\= J=V. BJ K97V4= J=. B V/ 7JV= UA U{V BJV
;'9M/:JV9 K6=J74 U#=J 39J -J 6J K4EJ =JK!V/ B V9O
O =$=0^
)Aoo U J6 7K/JV6 U J6 ?rK; V /JBJ= {K/ B V/
7JV= ;6 U J6 :J=L K'K6A VJ>6 9B6 39J 6JCJ%JCJ K=V/ U4 EJ <J V9
6JO
O F <G 0 =)0<*k<Aoo F7J46 7KzEJ 7K=%JK>/ BE =R7 U J6
7K/JV6= U{V A= J= K9K5 J=J
K6V4q? K4V/ 7JK=V9 U< y=R7 U J6
7KzEJE <K4 K6;g9K.q/ U J6 J?G J 3JV /JBJ B V> y 7KzEJE K6VEJK'/
7V/p ?rK;V = U%JV!= K6=J7J K95JV6= '6p 7<My %?;J 9J U%J!J9=V.= 9p9v]J
K=V/ B V9 <3JH
7KzEJ= J=V. FK{ 9J K9_&MK=/ .J 9J *N =J B V/ U%JV!=
K97V4= J?G J
! K/;JJE JV>J 9J JV7= J=V. U%JV!= {K/= J?G JO
O mM= *B#Y /Pe<92 =)#Y7 &,< 5<0 \L<=7$S *0>`<0 `.$<Aoo <K4 U J6
7K=4?qV = K6 * BJ 7/LE;J6 BE U K/K6 7K/JV6= ;JK>V =
7= K>K!/ JV4? 'J=L K=EJ BJV/ K>K!/ A;VE= ;V5p K6;gK>K!/ J'
67
34
O =,*d) F(;<7<0 =,0MGs 4$ Y$<.B1 ,X,\L<Aoo

U J6 7K/JV6=
U J6 { IJ5J= U%Y9J_%J "/q 7J 7 5P;73 39J 6pJ6p AL;J9 v]JV6
U<!JV6 K976 U5IJEJ
7K=;JV. 3J J= AljJ96J JV& <JBJ J=J U J6 9pKy=
JzJeb B EJ= (IMK 3JK EJ <JE U J6 9pKy 7V9? K=V/ 7JK=V96 6J 9J /JBJV
7V9V?= 6M;K/ U4 EJ B V9 6J <K4 6J UA!JV6 K9K5 J=J K65qJK=/ 7K=;JV7=
U J6 ;pJ6VBJ> 39J 9JKB= B 9J= J<q = 9p9v]J 3JV O
7 5J=J
K>K!/ U J6 AL;J9 v]JV6
U:JV= K5
U:JV' <My U J6 9B6V<J"p W94MpK/ 9JK/ BJ= :pebV= 9p9BJ=
=J= 6M;K/ U4 EJ <J V9 6J 9G U< U{V U J6 U5IJEJ 4JBp
B EJ= AljJ96J 3JV UA U{V 4JBp K6V=J5 9v\ J=J K6K;q/ 9JK/
&JCJ 6p U J6 9JK/ y v]JV6 9p9BJ= =J= '6p 6M;K/ U4 EJ
<J V9 6JO
U J6 7K/JV6= y=R7 U J6 AL;J9 v]JV6 U J6 9pKy 7V9?
K=V96 6J 9J 7V9? K=9J= 6M;K/ U4 EJ <J V9 6J <K4 6J BJ
B V/ U5IJEJ K6uZJ?6 9G 7V9? 7K/V=J5 9p9v]J =J= '6p AljJ9p
A > 7e]J "B. =J BE 9G <K4 6J K6;gK>K!/ U< U J6
K*
9p9v]J "B. =J BE
U J6 7<My 9pKy /Sq 7=L{JVeb
;V;q 7/pE6 7 74J6 =J
BE U< v]J6K* K976 U5IJEJ B V/ ;My 9G BJ 7V9V?= '6p
7<My 39J
! AGK? ?rK;
K* 7<My ?nJA 7?nJA <e 9p9BJ= K=V/V&6
9G /JBJ= U J;= 9V= AV ;6
K* =M 9J5J JV& <JBJ=
U!J>J 7Jeb y v]JV6= 9JKBV= 9v]J6=/ U J6 9pKy= BJV/ JV&O
7V/p 7K/JV6 7<My ?nJA 7?nJA <e AJ6 =J= <e
U J;=9 9G =M /JF{K. 9p9BJV== '6p y=R7 v]JV6=
K6 V* ; 'M4 =JK!V/ B V9 9G y=R7 A=J; U J6 7<My
9pKy /qS A;E A;E 7=LK{/ B V/ B V9 9G BJ 9p9BJV==
68
U<J"p
;V;q /F /qS 7/pKE/ B V/ B V9 9G 7V/p
7K/JV6 ;q=/ <V3 AG!p 9pKyV y=R7 A=J; 9p9BJ= 9G
?nJA 7?nJA 79JB =J= 7e]J AlV q 7K?{. 74JV6= 9p9v]J K=V/
B V9O
U J6 7K/JV6 U J6 9pKyV 9E>J= 9E>JV== %NK> 5P;73
IJ5J= U%Y9J_%J 7J 7 39J U J6 AL;J9 v]JV6 BJV/ J' =J=
'6p 39J BJV/ U J6 7=L{J 7K=%J>6J= '6p 7rV9? K=9J=
6M;K/ 74J6 =J <J V9 6J </{. 7<qeb 6J BJ 9JEM 79JVB= J=J
<V3 +JJ =J B EJV& 39J 6p U J6:JV9 ;J6MV@= 7V9V?= '6p
7<My =J B EJV&O
O =,G}<0 ,< '<5X X<4 (?1< $X<='Aoo
U< U{V U J6 7K/JV6
U J6 F7J46 7KzEJ= J=V. K/ "pJA U5IJEJ 9Ju 9J 5M>J ;6 7 TK/= 9J
;6 7K=;JV.= BE U< BJ K9VJK=/ 9J 7K>/ B 9J= AljJ96J 3JV UA U{V
y=R7 K9VJ=. 9 =J= '6p K6;gK>K!/ 7e]JE AljJ9p A9q7 J= 9p9v]J "B.
K=V/ B V9 <3JH
7pJf* 9J <e7JK/ 9p9BJV== A;E BJ J<q = :JV9 K#K=EJ =JK!EJ
! y=R7 5M>J "pJA U5IJEJ 9J 9Ju K6uZJ?6 9J BJ= AE K6V=J5
K=EJ
" 4B6LE B 9J= AljJ9p A > FA J<q =:JV9 K#K=EJ =JK!EJO
U< U{V U J6 7K/JV6 U J6 7KzEJE 9p9/ U J6 7pJf* 9J
<e7JK/ ;6:JV9 K6;qJ. =J BE 6J <JBJV/ BJ y=R7
K9VJ=V.= U{V F76g AljJ9p %J7 ABp K=V/ 7JV= UAV{V y
7pJf* 9J <e7JK/V/ U%J U98>A U:f*A 9J 6p U J6 J<q =
<e7JK/ 9p9v]J K=EJ y K9VJ=V.= K9vbJ= 9J 7:J9 U=J5 =J=
'6p AljJ9p A > 9p9v]J "B. K=V/ B V9O
U< U{V U J6 7K/JV6= U J6 7pJf* 9J <e7JK/= U J6 G?
U J6 K9VJ= 9J 4JBp "pJA 9J 9Ju v2J:JK9 9JEM %J7 V7{J
K5 %JV7 3JV UAV{V y G? K6;gK>K!/ 7e]J 9p/L/ U!J>J
<J V9 6J <3JH
y U J6 GV?= -J 6J= ;MV!= AV AG<My U J6 7J V7= AGV<J"
!MK>EJ U4 EJ= 7PV9q y GV? U J6 "pJA 9J 9Ju 7V9? 39J
y=R7 7J 7 7 9J>9 J=J 9J 6p U J6 7e]JE 9 K=V/
B V9
79
y=R7 U J6 96 7AJ=. K=9J= 7PV9q y GV?= 39J

7J V7= "pJA 9J 9JVu= %J7 v2J:JK9 9JEM %JV7 ;J EJ J6J=
'6p AljJ9p A > 9p9v]J "B. K=V/ B V9
" U< U{V y=R7 U J6 96 ?3 9J 7AJ=. =J B EJV& UA
U{V U J6 K9VJ= 9J 4JBp "pJA 39J 9Ju y GV? 39J
7J V7 96 ?y K=EJ 9J5J 6J B EJ 7<qeb 9G K6=J74:JV9
7K/v]JK7/ 6J B EJ 7<qeb 7V9? K6V=J5 K=9J= '6p A9q 7 J=
J<q = 9p9v]J "B. K=V/ B V9H
/V9 ?/q 3JV U< U< U{V U J6 7pJf* 9J <e7JK/ U!J>J ;JV+
v]JK7/ BE UAV{V
7 5J=J= K95J6 7V<J'p B V9 6JO
U< U{V U J6 7K/JV6 U J6 7pJf* IJ5J= 9J U%Y9J_%JV/ U J6
K9VJ= 9J 4JBp 74J3q 3JV 9J U J6 A;E K&> UA U{V BJV/
/J7 9p9BJ= K=EJ U J6=R7 (J>J 9J J*J= J' =J <J V9 6J
<K4 6J y 9v\ 9J U5IJEJ 7AJ=. 39J 4JBp 9J K9VJ=
9v]JE =R7Jeb= =J= '6p 73V; <3J<3 9p9v]J "B. =J BE 9G
y=R7 U J6 74J3q y 7pJf* IJ5J= 9J U%Y9J_%JE y=R7 U J6
J' =J= 7= 7V9? K=V/ U4 EJ <J V9 6J </{. 7<qeb 6J
AGK? 5J/N y 9v\V 4JBp =J= K974 U=J5 =J= ;/ <V3 +JJ
BEO
35
70
4x. (X<7
\%<\LX \%<\LX =,=(
O =$*7 ,X<=( 4UG Y F)<= 2Aoo

U< U{V K/LE /8KAV>
K>K!/ 9pJK5 J=J U J6 7K/JV6 U J6 ?rK;
JzJeb B6 UA U{V ;JK>
39J AGK? ?rK; 39J /F /qS K6K4q U J6 9pKy K9K5 J=J K65qJK=/ 8=V;
A;VE= ;V5p /FAlV q 7K=4?q V U6JK*? ;J=8/ 9KB/ K=V96O
<K4 U J6 U=K'J,q K%K FA U J6 7K/JV6= 9/q;J6 9J :P/7P9q
U J6 ?rK; V K%K FAJ JV> U4V!6 U< K/K6 K/LE /8KAV>
K>K!/ U J6 9pJK5V/ :MK"V/V&6 9J :MK"V/V&6 9K>EJ /JBJ=
AVf4B B V/V& /JBJ B V> y K%K FA
K9>Vl2
K* K>K!/
K=V7J*q ;J=8/ 75J6 7K=4?q V K6;gK>K!/ K9@E 9KB/ K=V96
<3JH
U=J"L= 6J; 9G ,J U<J"JV<JV"= K+ J6J
! U=J"L U< U=JV" :MK"V/V&6 9J :MK"V/V&6 9K>EJ AVf4B B V/V&
/JBJ= 6J;
" U< 7K/JV6 U=J"L 9/q;JV6 J' K=V/V&6 9J A9qV?@ J'
K=EJV&6 /JBJ= 6J; K+ J6JO
A= J= A= J=L U"V'V* 7J76 J=J K/LE /8KAV> U J6 6P/6
U=J" AGV<J'6 K=V/ 7JK=V9 39J BJ B V/ U J6 U=J" 9J4
K4V/ 7JK=V9O
O '? Y )< ,< ,X<=( 4UG Y $'GPO0 =)G'Y2 *r'<G)0 `.$<Aoo U< U{V
U J6 7K/JV6 4M#q*6J 'K6/ K9VJ=. 7i>6 K"g J 9J AV9V" 7JK6 7V9?
39J 6p U J6 4M#q*6J #V* 39J U< U{V U J6 7K/JV6 K/LE /8KAV>
K>K!/ U J6 9pJK5= 7J4M:qJ9 U4!J U4E 9J K4EJV& 9K>EJ AVf4B BE 9G A= J=
<K4 ;V6 V= U< y=R7 4M#q*6J 9J 9pJK5= djV9= J=. /FAlK q/ 7K=Kv]K/
Al2V J6MJK6 /4eb B EJ 7VEJ'6 UA U{V A= J= U J6 U<J"p 9pKyV
y=R7 /4eb K=9J= '6p K6<My K=V/ 7JK=V9 9G J V6= 9J AGK? K9@VE
K9V?@ J6 Al6g U J6 9pKyV /4eb JV> VAA= KBAJV9 J' =J= '6p K6<My
K=V/ 7JK=V9O
y /4eb J=L 9pKy= U J6 AJ{L= 7Kv]K/ 4K>> 9J 6p U J6
9v\ U7? K6K/ =J= 7VEJ'V6 /4AGzJeb U4 EJ6L J<qK9K5=
5L6 U4 EJ6L J4J>V/= A > {;/J 3JK V9 9G U J6 9pKyV
/4Veb= VV?p U J6 AG9J4 U4 EJ= '6p K/K6 K6V4q? K4V> UA
9pKy 4 K9K5= 5J=J
= V3q BJ K=V/ J 6/ 9J5p 9K>EJ
".p B V96O
=)0<*k< 4UG Y =,G23 =,(<)
O =,*d) <1)<Aoo U< U{V A= J=

;V;q Ae\ BE U6JE BJV/ K6<My U J6 9pKy= AJG#JK/ ?J=LK=
'!; K9@JzJeb 9J 9pJK5V/ JzJeb B EJ= AljJ96J 3JV UA U{V A= J= K9K5
J=J y 7K/J6 AlV q K>K!/ K95J6 7.E6 K=V/ 7JK=V9 <3JH
U J6 U J6 7K=%J>6J (IMK 7P.q BJ U#[email protected]
! ;KB>J K V?J= 9G K? V4= y JV' K6VEJ" K6K@ =J
" y JV' K6VEJK'/ 7V/p 9pKy= K6EK;/ ?J=LK= 7=L{J=
9p9v]J =J 9G y JV'= '6p 7<My 9K>EJ 7/pKE/ B6 6J
= ; U J6 9pKy= BJV/ K6VEJ" K6K@ =J
# y JV' K6<My 9pKy"V.= 9J BJ= JV? 7JV? ;q=/ 9pKy"V.=
AM ={J= 9p9v]J =J 9G ;q 7K=%J>6J= 9pJ7JV= K9V?@ U J6 9v\
9J 7e]J 9p9BJ= =J 9G
$ {K/ J= =JAJEK6 74J3q AlV q U6JK*?
9p9BJV== U{V
A/ q/J 9>ln6 =J= U6JK*?O
O '? Y )< 4UG Y F)<= 2 *r'<)Aoo
<K4 U J6 7K/JV6 U J6 4M#q*6J
#V* <JBJV/ 7J.BJK6 9J ?J=LK= '!; BE 39J <K4 U J6 7K/JV6 4M#q*6J'K6/
K9VJ=. 7i>6 K"g J AV9V" 7JK6 7V9? 9J 5M;r c"L=. #V* /JBJ B V>
;JK> 7K=4?q V 7=9/qL 4M
;q K49VA= ;V5p /FAlV q U6JK*? ;J=8/
9KB/ K=V96O
U< U{V 7 5J=J
K>K!/ U J6 4P#q*6JE ?J=LK= '!;
B EJ= J=V. BJ U J6 JB/ ?rK; V
J*%K>? #J= K5
A;E 7<qeb JV' 6M7Kv]/ 3JK V/ 9J5p V= UA U{V K9K5 J=J
K65qJK=/ U=K'JV= BJ K>K79 K=EJ =JK!V/ B V9O
7 5J=J
K>K!/ U=K'JV= K>K!/ K99=V.= K* K7
;JK> 7V/p 9FA= U? 'M6 9G U? K,VAl2= = 7=9/qL
76= K4V6= ;V5p 75J6 7K=4?qV = K6 * U7=. K=V96O
O $ bG1< =,*d)
)<0 F)<= 2Aoo U< U{V U J6 7K/JV6 K9K5
J=J K65qJK=/ 7 TK/= U J6 K976 #*6J #V* UA U{V BJV/ U J6 ?J=LK=
'!; B 9J 6J B
;JK> 7=9/qL K/6 ;qK49VA= ;V5p /FAlV q U6JK*?
;J=8/ 7K=4?q V 9KB/ K=V96O
71
36
72
/4Veb= 7VEJ'V6 y /4eb J=L

J V6= 5L6 U J6
7K=4?qV = U< U< {;/J /JBJ= 7VEJ" =J 7VEJ'6 9K>EJ ;V6
V=6 /JBJ K/K6 7rVEJ" K=V/ 7JK=V96O
/4eb J=L 9pKy A= JV== K6 * /JBJ= K=V7J*q U7? K=V96 9G
K=V7JV*q 4M#q*6J= J=. 9G /FAlK q/ 7K=Kv]K/ K>K79
K=V96 9G /4K9@VE /JBJ= 9G VAAV== U J6 ;eb9p
3JK V> /JBJ 9py K=V96O
A= J= /F /qS K65qJK=/ A;E
7e]JE y K=V7J*q 7 J?
K=V9O
O ).?)< 49 rG50 `.$<Aoo U J6 7K=4?q U J6 7K/JV6= v2J:JK9
;q A;VE ;JK> V AG9J4 K4EJ 7K/JV6 9p9/ 9J 9p9BJV== '6p J6L/ U J6
9v\= 6;M6J /H7= 9K.q/ 7e]JE AG"B K=V/ 7JK=V96 <K4 /JBJ= K6 *
7/LE;J6 BE U< y 9v\
J 6 9J U J6 K9K5= U!>J7 K=EJ 9p9BJ= =J
B V/V& 39J BJ= 9p9BJ= 7K/JV6= ?rK; "V.= ?J=LK= {K/ 9J v2Jv]p BJK6
#*J V/ 7JV=O
U< U{V U J6 7K=4?q y=R7 6;M6J AG"B V=6 UA U{V K/K6
;JK>
_&J T/:JV9 6M7Kv]/ 6J 3JK V> /JBJ= 7Kv]K/V/
AG"SBL/ 6;M6J K/6 GV? K9:y K=V96 9G BJ= 7V/p
G?V :J>:JV9 AL> 9G <3J<3:JV9 K%K/ K=EJ K4V96 9G
;JK> V
BJV/ /JBJ= K6'v2 AL> K% K49J= 6M;K/ K4V96O
7K=4?q
6MV=J5 K=V> ;JK> AG"SBL/ 6;M6J K9:Ky =. 9G
BJ AL>
K%K/ =V.= '6p 7VEJ'6LE A=JV;= 9p9v]J
K=V96O
7K=4?q
7K= y 6;M6J=
G? AV AV ;JK> V 74J6
K=V96 K/LE G? K9V?@. =/H BJ= 7= K=V7J*q 74JV6=
'6p A= J=L K9V?@V = K6 * U7=. K=V96 9G /S/LE G?
6;M6J 9v\K* AlV q U J6 U8Y'4J=L ;J;>J B V> J4J>V/ U7?
K=9J= '6p K6V'= JV& =JK!EJ K4V96O
5J=J= 5L6 A= J=L K9V?@ /Tq 7.L/ U J6 6;M6J 9v\=
7= K=V7J*q 6M=R7 9v\ Al2V 4JVE= T/ U J6 ;J;>JE AJ{p
KBAJV9 9p9BJ= =J <J V9O
O =$*7 =,*G'0 F`Gm *=0'2YG 0 `.$<Aoo
J V6 U J6 K9@E
Al2V AMv K95J6 6J =R7 U J6 U{V <K4 7K=4?qV = K6 * BJ 7/LE;J6
73
BE U K/K6 K>K!/ U6JK*? J=J /FAlV q ;JK> V 9KB/ K=V/ 7JK=V96 9G
U6JK*V? K>K!/ A;VE= ;V5p 7K/V/ U< U< J=V. BJ K976 9J
{K/ J= 9J ^K*7P.q /JBJ 4P=L:P/ =J= K6V4q? K4V/ 7JK=V96O
7 5J=J
= K95JV6= BJK6 6J K=EJ 7K=4?q K>K!/ JV4?
J=J U J6 7K/JV6= ;JK> V /JBJ= 7K/JV6= 9J BJ= U J6
GV?= U J6 vblj 7CJ EJ U8>J 9J ;J EJ U8>J K6K@ K=V/
7JK=V96 <K4 /JBJ= ;V/ BJ J=J 6p U J6 vblj :JKEJ 7CJ=
39J 7K/JV6= U J6 G?
JV> 5hKAEJ 7CJ= AljJ96J 3JV
39J BJ 7K/JV6= '6p K976 BEO
<K4 7K=4?qV = ;V/ U J6 7K/JV6 ;q=/ U J6 9pKy= 'L96
K6=J7J J K97V4= AloM!L6 /JBJ B V> K/K6 AGK? ;JK> V
74 K>K!/ JV4? J=J /JBJ=
;V/= J=. 9.q6J K=EJ K974
7AJK=/ B EJV&
;V;q K/K6 Ae\ 6J B EJ 7<qeb y 7K/JV6
9J BJ= U J6 GV? U J6 9pKy= K6VEJ" K6K@ K=V/ 7JK=V96
/V9 U J6 9pKy y K974 7AJ=V.= JV' K6<My 3JK V>
/FAlV q
JV4? 7V<J'p B V9 6JO
7 5J=J
= 5L6 74 JV4? J=J AG{N U J6 ;JK>
JV4? 7JK= 4? K4V6= ;V5p BJ= K9=^V 75J6 7K=4?qV = K6 *
J7L> K=V/ 7JK=V96 9G K/K6
JV4? 9BJ> AGV?J56 9J
9JK/> K=V/ 7JK=V96O
7 5J=J
9G
= 5L6 74 7V/p
JV4? AlV q
7K=4?q /JF{K. :JV9 A= JV== K6 * K=V7J*q U7? K=V96 9G
AGK? ;JK> V
K=V7J*q 74J6 AlV q 9KB/ K=V96O
75J6 7K=4?q 7 5J=J
= 5L6 /F /qS 74 9JK/V>=
JV4? 9p/L/ 6p U J6 JV4? AlV q /JF{K. :JV9 A= JV==
K6 * K=V7J*q U7? K=V96 9G
K=V7J*q 74J6 AlV q AGK?
;JK> V
9KB/ K=V96O
U J6 ;JK>V = 7 5J=J
39J
= 5L6 74 U J6
JV4V?= K9=^V J7K 3JK V> K/K6 JV4? 7JK= K9? K4V6=
;V5p y J7K 9G BJ= J=. K>K79 =/H A= JV== K6 *
37
74
{. (X<7
K>K!/:JV9 'J6J V96 9G A= J= BJ

K* K;K*= K6 *
KAJVeb= '6p U7=. K=V9O
y K;K*= KAJeb 6J 7J EJ 7<qeb U< JV4V?= K9=^V J7K
J76 =J B EJV& ;JK> V BJ ;JK6EJ %K>V/ B V9H
/V9 ?/q 3JV U< ;JK>V = JV94V6= 7K=V7K{V/ K;K* BJ=
KAJeb 6J U4 EJ 7<qeb 7 5J=J
= 5L6 74 JV4?
AJ;KE :JV9 v]K"/ =JK!V/ 7JK=V9O
O =,*d) -,) ,9 /Pe*<=$ 4U%Gv $&X *r'<)Aoo
U< U{V U J6
7K/JV6= ?rK; U4K!V/ 7J6 U< BJ= U J6 :96 9J <e7JK/ <JBJ ?rK;V =J
AJ5J=./H 9p9BJ= V=6 ;6 K976 9v]JE JV& U< BJ UVl2
/FAlV q K>K!/:JV9 ;JK> V 9KB/ K=V96O
y=R7 AG9J4 7JK= 7= ;JK> <K4 K/6 K4V6= ;V5p /FAlV q
<3J<3 9p9v]J "B. K=V/ 9p3q B6 9G y :96 9J <e7JK/
9p9BJ= =J= J=V. U J6 ?rK; <K4 '!; 7J B6 /JBJ B V>
;JK>
6M=R7 '!; 7J ?rK; V J4? 5pJVE= 5L6 y=R7
'!V;= '6p 7V4E {K/7P=V.= K}. BJV= {K/7P=. K4V/ 9J5p
3JK V96O
O =$*7 <G .=51< G#0 =)G7<G ,<(< =)G3(Aoo 5J=J
9G
= K95J6}K> K V?J= ?rK; "V.= '6p U<;6 7V<J'p ;KB>J ?rK; "V.= '6p
U/;6 7V<J'p B V9O
O (X<G70 )?*B0 =,=( *r#7G)0 `.$<Aoo A= J= K9K5 7.E6 K=EJ
U J6 7K/JV6 K6<My ?rK; "V.= K6=J7J= '6p K/K=y K95J6 9J
9p9v]J "BV.= '6p K6V4q? K4V/ 7JK=V9O
! U J6 :9V6= 4SD 9v]J AlV q K9K5 J=J K65qJK=/ U<J"p/J Al6g
U J6 9pKy /qS K9K5 J=J K65qJK=/ 8=V; 74 7/pE6 7 75J6
7K=4?qV = K6 * 6J U7IY&J 7<qeb y :9V6 ?Ky %JK>/ U J6
F7J46 7KzEJ %J>JV6J K6K@ K=V/ 7JK=V9O
75
1X<#.B1 ,X,\L<
O *r<&=. = = 84< 40h<.Aoo
7V/p 7K/JV6 A > ;q A;VE
<JBJV/ ABV' 7J EJ <JE ;6:JV9 7J3K; K%K FAJ A=J; A;S 9J| 39J
K9K5 J=J K65qJK=/ A=J; A;S J>K;=J= 9p9v]J K=V/ B V9O
y=R7 9J| 9J J>K;=J= AG!pJ 7K/JV6 AJ5J=./H K6VEJK'/
7V/p
?/ 7J? '6 ?rK;V = '6p K*= ; B V9 6JO
7V/p 7J3K; K%K FAJ 9J| 39J J>K;=J ;6
'6
4JKE/i7P.q 9pKy= K'loJE 3JK V9 K<K6 7J3K; K%K FAJE
7K?{.7J 9G <JBJV 7K/JV6= A > ;q A;VE 7J EJ <J V9O
7V/p ;q V{ y 9pKy= 6J; Al2K>/ K* U6JK*? *JG"J EJ
U4 EJ B V9 9G y 9pKy /JBJV ABV' A6Jy =J <JE ;/
9pJ' 7K=5J6 K=V96O
U< A > 7K/JV6 AJ5J=./H K/6? 9J /V/JK5 ?rK; K6VEJK'/
3JV 6 UA A > 7K/JV6 K9K5 J=J K65qJK=/ ;JV7= <e7JK/
AK/ 39J 6pJ6p AMK95J Al2K>/ K,AV76AJ=LAB
K* U=J"L
{ 3JK V9 9G y {K* K9K5 J=J K65qJK=/ K%K FA
6JKAqG
JV8= 4JKEV/i 3JK V9O
O F4 += F0 !Y ,? 490`#Aoo 7IK%? 'V6= K5 ?K; AlnK>/
7V/p
J=!J6J 7K/JV6 K65qJK=/ 7K/V/ 9J5p/J;P> UA 8K* U= ,q 9M
UA 8K* U9J,q AG={. K=V/ B V9O
O F(I$ 0# 4?=,(<Aoo
7V/p 7K/JV6
BJV/ ;q=/ ?rK; "V.= 9p9BJV== '6p <V3 AG!p
7<My
U"JA>!J6J U5Y/ =V.= AMK95J 9G BJ= ={.JV9{V.= 9p9v]J
3JK V/ B V9
! y=R7 AMK95JK4 7M=^@ ;KB>J ?rK; "V.= '6p v2/e:JV9 3JK V/
B V9 9G BJ <3J<3:JV9 74qJV#=J 3JK V9
" y=R7 AMK95JK4 A9 A;E 7K=vZJ= 7K=_&6g =JK!V/ B V9 9G ABV'
";6V<J"p B V/ B V9O
A= J= K9K5 J=J U J6 7K/J6 AlV q y=R7 AMK95JK4= ;J6
38
76
O X<=Q )Aoo
U< 7K/JV6 AJ5J=./H
?/ 'V6= K5 ?rK;
K6<My 3JV 6 UA 7K/JV6 /JBJV4= 9p9BJV== '6p <V3 AG!p pJKf*6 3JK V9O
A= J= K9K5 J=J
U J6 pJKf*V6= K6;qJ. v]J6 AGv]J6 JA9J97 9G 6pJ6p
A=JV;= ;J6 K65qJ=. K=V9
! pJKf*V6= '6p K* 9p9v]J76J K;K* "+6 9G BJ= 9p9v]J76JE
?rK; 7K/K6K5V/i= '6p K95J6 K=V/ 7JK=V9O
pJKf*V6 K 5=V6= !J4p A=9=JB =J B V9 9G BJ= ;P>p /
B V9 /JBJ y 9p9v]J76J K;K* K65qJ=. K=V9O
O =,2Z<. ` $X<='Aoo AJ5J=./H 7J? 'V6= K5 ?rK; K6<My
3JV 6 =R7 7V/p 7K/JV6 ?rK; "V.= 9p9BJV== '6p <V3 9G 7<My
AG!p K9?rJ; V{= 9p9v]J ={.JV9{. K=V/ B V9 9G y 7K/JV6
?rK; ". <JBJV/ /JBJV4= AV J6L/ !J9J= !J V/ 7JV=6 UA '6p 7J6 =J=
7JK6= 9p9v]JAB
K* 7<My !J9J= V{= 9p9v]J 9G ={.JV9{. K=V/
B V9H
/V9 ?/q 3JV U< 5J=J
= 5L6 AG=K{/ U J6 pJKf*6
7 5J=J=
5L6 7VEJ'6LE U J6 9p9v]J= G? 9K>EJ ".p B V9H
JV=J ?/q 3JV U< U< 7K/JV6 U J6 !J9J= { K94p;J6 UA!JV6
?rK; ". /JBJ= ;q V{ 9KAEJ U J6 !J9J= !J V/ 7JK=V96 6JO
y K9?rJ; { 9G !J9J= { <V3:JV9 JV>JK / 9G 9JEM
Al2K>/ B V/ B V9 9G 7K=vZJ= AB6LE /J7;JJE ={.JV9{.
K=V/ B V9O
U< A > 7K/JV6
'V6= K5 ;KB>J ?rK; K6<My 3JK V96
UA!JV6 7M=^@ ;KB>JV4= '6p 7S3 K9?rJ; V{= 9p9v]J 9G U<
A > 7K/JV6
'V6= ; ;KB>J ?rK; K6<My 3JK V96 UA!JV6
K9?rJ; V{ 7S3 74qJ U#=J 'JE"J= 9p9v]J 3JK V9O
O =2z Àoo AJ5J=./H %K>? 9J /V/JK5 ;KB>J ?rK; K6VEJK'/
JV&6 =R7 7V/p 7K/JV6 /JBJV4= &E 9FAV== ; 9EAL K? AebJ6"V.=
9p9BJV== '6p
9J JK5 7<My V{= 9p9v]J ={.JV9{. K=V/ B V9O
y=R7 U J6 V{ <V3 v]J6 AGv]J6 JV>J 9JEM %>J%V>= 9p9v]J
3JK V9 9G BJ 7K=vZJ= 7K=_&6g v2Jv]pAlo/:JV9 ={.JV9{.
K=V/ B V9 9G {K* K? V4= 7K=%<qJ= '6p K: 9J
7K?{.7J ;KB>J= /iJ95JV6 3JK V9O
77
y=R7 { K? V4= ;JVEV4= '6p AB'";p B V/ B V9 9G

<MKyAG"/:JV9 </4M= Alj9 BJ 7K/JV6= ;6 U J6 GV?=
AG>"g 9J K6 V* 9Kv]/ B V9 6J U<!J6 B V/ K9=Ky = U5IJEJ
5P>J9JK> 9J " K6"q/ BE 39J U<!JV6 K/ ;JJE ?;E J'
;q 7K=%JK>/ BEO
y=R7 { ;'9M/:JV9 K6;qJ. K=V/ B V9 9G BJ= A >
U4 EJV> &JV4 7<My /J7 7K/V=J5 9v\ 3JK V/ B V9 9G
BJ 7JK6 U=J5 B V/ B V9O
y=R7 V{= _%/J U;V( B V/ &JV4= A9qK6;g G? 7<qeb
UAKf*K;*JV== 6LV% B V9 6J 9G BJV/ 9v]J6=/ 7V/p K? =
'6p U;V(= 7K=;J. B V9 ;7V{
9"qVAKf*K;*J=O
y=R7 U J6 V{= 7V/p GV?= '6p 7%N= JV>J 9J/JA ;My
9JEM AJ>V6= 7<My
J<q = 9p9v]J 3JK V/ B V9O
y=R7 U J6 { <V3 JA9J97 J=J AK/ 3JK V9 9G K9V?@
K=EJ 7V/p K? = '6p K9&J6JAB K* !J* 9J U4J>6J 3JK V9
9G 7V/p ;J <!6 K? V 4M5 7J6 =J V96 9J 7K=%<qJ K=V96
/!6 /JBJ= 9p9BJV== '6p eb/H
K* U%EJ= 9J
7 JV==
U J6 JA6 3JK V/ B V9 9G /N>6J;P> :JV9 9EvZ K? V4= '6p
<V3
7<My U!>6J= A=9=JB 3JK V/ B V9O
/N>6J;P> :JV9 9EvZ K? V4= '6p
K* 7<My U#=J U4 EJ
&JEJ;E loMy U!>J= ;J+ 3JK V9H
/V9 ?/q 3JV U< 75J6 7K=4?q K>K!/ JV4? J=J U J6
7K/J6V
7 5J=J= K95J6 B V/ 9pJBK/ K4V/ 7JK=V96 <K4
K/K6
;V;q Ae\ B6 U< y=R7 U!>J= ;J+ =J= '6p 7K/JV6=
<V3 'JE"J 6J O
O < ,< <G) =,G)<') =2`<0 4?=,(<Aoo A= J= %J 9J"J6 AlV q
K9K5 7.E6 K=EJ BJ= 7V/p ;JK> V UA!JV6 K6<My ?rK; ".
9G /JBJV4= K? AebJ6"V.= '6p K9K5V/ K>K!/ K9V6J46;P>
AMV<J" AMK95J= 9p9v]J =J= '6p K6V4q? K4V/ 7JK=V9O
! U< U{V U J6 %J 9J"JV6= ?rK; "V.= &E B V/ 9JV=J 9&= 9EAL
K? AebJ6"V.= AG!pJ 7IK%? = 7V= BE UA U{V K9K5 7.E6
K=EJ BJ= ;JK> V K9K5V/ K>K!/ 7r JV= 9G ;JV6=
K? V4= K?{J= AMV<J" = 9p9v]J K=9J= '6p K6V4q? K4V/
39
78
),. (X<7
7JK=V9O
" 7K/K* %J 9J"JV6 ?rK; V4= 9G /JBJV4= AebJ6V4= '6p K9K5 J=J
K65qJK=/ 7e]JE 7<My K%K FAJ U f4r 7K/J K=V/ B V9O
O < ,< <G) D5<7) 4?=,(<Aoo 7V/p %J 9J"JV6= ;JK> %J 9J"JV6
9A9JA=/ 7V/p ?rK;
9G /JBJ= 7K=9JV== '6p "SBJEV6= AMK95J= 9p9v]J
K=V96O
O < ,< <G) H')=Q') *rG7< )>7 = =)4*m $X<=' *r<=x0 4?=,(<Aoo %J
9J"JV6= 7V/p ;JK> /JBJ= ?rK; "V.= '6p AB'";p v]JV6 /JBJV4= W46Kf46
7VEJ'6LE K'K6A 7JK= AMK95J= 9p9v]J K=V96O
O 49,<'*m 2Z=.G 0 )X = = 84< *=0 /Y<Aoo 7V/p AG9J47 ?rK;
9G /JBJ= 7= K6:q=?L>". AG9J47 7K/JV6= !=V% K9K5 J=J K65qJK=/ 7e]JE
7K=;JV. K%K FAJ 7K=%<qJ 7J 9J= K5 J=L B V96O
,X< X<:oo
5J=J= 7VEJ'V6 K6:q=?L> 9K>V/ U J6 AG9J47 ?rK;V =
v2J;L 39J vL K959J ;J J/N= K7/J ;J/J 9G W95 7M
6pJV 9M(J V9
<JBJ=J y ?rK;V = AKB/ 9A9JA V=6 9G /JBJ= 7= AlP.q K6:q=?L>O
O ,<(X$<.B1 rM* ,>.< <1? 0#Aoo U<A > 7K/JV6 6Mp6
'6
v]JEL ?rK; ;q=/ JV&6 UA!JV6 A= J= K9K5 J=J K65qJK=/ 7K/V/ "^7 9L;J
%J>M K=V/ 7JK=V9O
79
.Y i<
?=
O H'=)
.Y i<Aoo U J6 7J9EvZ ?rK; U J6 7K/JV6 AJ5J=./H
W4K6
J* #J= K5 A;E J' K=V96 6J 9J /JBJV K4VE J' =JV6J
<J V9 6JH
/V9 ?/q 3JV U< 5J=J
= K95J6 AJV7V{ U J6 7K/JV6 y=R7 U J6
?rK; W4K6 4? #J 7<qeb J' K=V/ 7JK=V96O
O =,2Z<. ,< <5<G00 )X =,0=$Aoo U J6 7K/JV6 U J6 ?rK;
W4K6 &E #J= K5 J' K=V/ 9J5p 3JK V96 6J <K4 6J y
K4V6 /JBJV K9?rJ; 9J JBJV== '6p
#J K9=K/ U4 EJ BE
! W4K6 7IJ% #J= K5 J' K=V/ 9J5p 3JK V96 6J <K4 6J y
K4V6 y VV?p /JBJV J5J #J K9=K/ U4 EJ BE 39J
" W4K6 J* #J= K5 J' K=V/ 9J5p 3JK V96 6J <K4 6J y
K4V6 y VV?p /JBJV 48J
= 5L6 K* K9=K/ 39J
48J ! = 5L6 4M K* K9=K/ U4 EJ BEO
O 4<x<=5
.Y i<Aoo
U J6 7J9EvZ ?rK; U J6 7K/JV6
AJ5J=./H AJVB J*%K>? #J= K5 A;E J' K=V96 6J 9J /JBJV K4VE
J' =JV6J <J V9 6JO
5J=J
= K95J6 AJV7V{ U J6 7J9EvZ ?rK; U J6 7K/JV6
AJVB J*%K>? #J= K5 A;E J' K=V/ 7JK=V96H
/V9 ?/q 3JV U< U J6 AJVB y=R7 U J6 ?rK;V = U;J* ;q
A;E @J* #J= K5 B V9 6J 9G U J6 9FAV= BJ "VC 7K/
AJVB &JJ6g #J= K5 B V9 6JH
J= ?/q 3JV UK!/
JV4? J=J JV=JK7/ ?V/q
5J=J= K95J6 K?K3> K=V/ 39J
BJ B V/
J>L6 AV9qJ_% &E ;JA U;EJV4= '6p 9pJBK/ K4V/
7JK=V9 <K4 A= J=
;V;q Ae\ BE U< '6v2JV3q 3qX6K/
6gEV6= v2JV3q y K?K3> 9pJBK/ 7VEJ'6LEO
40
80
O 4<x<=5 ?= Aoo U J6 7K/JV6 ;q=/ U J6 ?rK;

U4J J6 9JK.'p 9J K? 7K/JV6= U{V 7K/ AJVB U4C K46 9G
> J=!J6J 7K/JV6= U{V K46 &NK* 7J V96
! AC 7K=9B6 7K/JV6= U{V 7K/ AJVB K9K_&6g %K9h? #J=
K46 &MK* 7J V96 9G y=R7 U J6 &MK*= '6p /JBJ= ;'M=L
B V/ U J6 /q6 %K>V9 6JO
O `=$*B0# .B1 4<x<=5 ?= Aoo U< U{V U J6 7K/J6V 9J BJV/
;q=/ ?rK; ".V 5J=J
= K95J6 B V/ 9pJBK/ 74J6 K=EJ 'J=L T/
U J6 JV4V?= 8V> 39J
J V6= 5L6 7.L/ U J6 K9K5= 8V> U J6 ?rK;
y 5J=J= 5L6 /JBJ= 7J7p U J6 &MK* B V/ 9K/ B6 UA U{V y ?rK; V
9v]J 6M<JEL <3J?L# Alj9 y=R7 &MK*= K4V6= A; AG!p &MK* ;M= K=V/
B V9O
O .Y 4.G70 4U*r4<0#Aoo U J6 7K/JV6 ;q=/ U J6 7J9EvZ
?rK;V = JV'= A;E ;6:JV9 9p9v]J K=V/ B V9 U<6 5J=J
= 5L6
/JBJ= JBJ= K9?rJV;= K9=K/AB BJ 4? #J= K5 Al7AJK=/ 6J BE /V9
A= J= /Tq AJ5J=.:JV9 39J U J6 K9V?@ 7K/J6 Al2V 74 6M;K/=
K:KV/ 9G /F /qS JV=JK7/ ?V/q BJ= 9pK/z; =J <J V9O
O H)2 *<1<Aoo U< U{V U J6 7K/JV6 U J6 7J9EvZ ?rK;V = U J6
7J>J= J' ;5p =JK= 7V= Al7AJK=/ BE UA U{V
5J=J
= 7VEJ'V6 y ?rK;V = '6p
K* 7P.q K4V6= &MK*
9K>V/ 9M(J V9 /JBJ= 7J>J U?@ B EJ= A;E B V/ 7=9/qL
K9K_&6g %K9h? #J 9G
! /JBJ= '6p 7=9/qL K46 9K>V/ 9M(J V9 /JBJ= 7J>J U?@ =J= 7=
7=9/qL K9K_&6g %K9h? #J 9G ;5p =JK= 7= K/K6 </ #J
J' K=EJV&6 /JBJ /JBJ= 7P9q9/qL K4V6= JV'= A;VE= AKB/
".6J =J B V9O
O /<),<5G) _.*?=h$ .Y i<0 *0 ,<(<Aoo
J V6= 5L6
6MV;JK4/ A;VE= K/K=y U J6 A;E U J6 ?rK; U J6 <J69JBV6 9J
JK5
<J69JBV6 J' K=V96 6J 9J /JBJV J' =J= 6M;K/ U4 EJ B V9 6JO
O =( <1 G.Y0 )X =$=0^ -<$<Aoo U< U{V U J6 ?rK; U J6
7K/JV6 U J6 K46 9J AJVB
J V6= 5L6 K6K4q A;VE= K/K=y A;E J'
V=6 UA U{V K/K6 K5 J> JV'= '6p /JBJ= ;P> ;'M=L ;BJ#q:J/J 9G
,B 9J eb9/qL ;'M=L <K4 3JV
= AJ5J=. BJV== K}. BJV= :J/J 7J V96O
U< U{V U J6 ?rK; V U J6 7K/JV6 K+ J BJ= K:KV/ ;'M=L
81
U4 EJ BE UAV{V ;JK>
5J=J= 7VEJ'V6 ?rK;
7K/K6K59SVf4= AKB/ JV>J%6JzV; </4M= Alj9 y=R7 ?rK; "V.=
"C 7J'qV6= BJV== A;J6 A;E BJ= K65qJ=. K=V96 9G y=R7
K65qJK=/ BJ= y=R7 ?rK; "V.= AJ5J=. ;'M=L BJ= 9K>EJ ".p
B V9O
5J=J= K95J6 7J>6 K6K/ =J= >V{p A= J= U J6 7K/J6
/Tq ={.LE U=K'J= K9K5J=J K65qJ=. K=V/ 7JK=V9O
O .=51< 2Z=.G 0 )X 4>=.$ .Y i<Aoo U J6 ;KB>J ?rK; V /JBJ=
K96J 6M;K/V/ U J6 7K/JV6 =J/ 4? #K* J B V/ U:J= &E #K* J 7<qeb A;VE=
;V5p U J6 J' K=V/ U4 EJ B V9 6JO
O Ht$ < @0>0 *0 ,<(<Aoo 75J6 7K=4?qV = K96J 6M;K/V/ 9G
/F /Tq
JV=JK7/ ?/q 9p/L/ U J6 7J9EvZ ?rK; V
K4V6
JK5
7K/JV6 J' K=V/ U4 EJ B V9 6JO
O *r<x,7\J 2Z=.G 0 <G 0 4.G70 F)<= 2 ,9 5<0 *r\K=$Aoo
7V/p 7K/JV6 BJV/ ;q=/ 7J9EvZ ?rK; ". U J6 U J6 A;E J' K=V96
BJ 7K=uZJ=:JV9 K>K!EJ K* U6JK*? 5J=J
= K95J6 6M<JEL 74K?q/ B V9
9G 7K/JV6 :JV9 =K{/ B V9O
y U6JK*V? 74K?q/ A;E
5J=J= K95J6 6M<JEL 7PV9q Kv]=
K=V/ B V9 9G BJ ;6 B V9 U<6 y A;VE ;q=/
?rK; ".V 5J=J
9G
= K95JV6=
U!>J7 K=EJ J' 6J =JV6J BEO
U< U{V U J6 7K/JV6= A > 7J9EvZ ?rK; V
A;EA;PVB
J' K=V/ BE UAV{V ;JK> y A;EA;PB AJ5J=.:JV9 Kv]=
K=V96O
U< U{V U J6 7K/JV6= A > 7J9EvZ ?rK; V
A;EA;PVB
J' K=V/ BE 6J UA U{V ;JK> y=R7 ?rK; ".V /JBJV4=
JV'= 7 TK/ 6MAJV= K9K:6g 4V> :J" K=V96 9G 7V/p 4V>=
?rK; AG!pJ K65qJ=. K=EJ K4V96O
U< 4>V U J6 7J>J 7K/V/ J' K=V/ BE 6J UA 4>V U J6
A;E J' K=V/ B V9 /JBJ ;JK> K6K4q K=EJ K4V96O
U< U{V U J6 4>V 7J>J 7K/V/ J' K=V/ BE 9G
K=V>}K> K6K4q 7<qJEzK; 7J>J 7K=9/qV6= 5LV6 6E UA U{V
y=R7 7V/p 4V>= K=V>V U J6 A;E J' K=V/ B V9 /JBJ
41
82
;JK> K6K4q K=EJ K4V96O

U< U{V U J6 4>V 7J>J 7K/V/ J' K=V/ BE 9G
K=V>}K> 7P9q K6K4q 7<qJE zK; 7J>J 7K=9/qV6= 5L6 UA U{V
;JK> 7J>J=
K* vZL; 7.E6 K=V96 U<!JV6 U J6 4V>=
K=V>V U J6 K4V6= U J6 A;VE J' K=V/ B V9 /JBJ 'J6J
<J V9O
5J=J= 5L6 JV'= A;E AlK q/ U J6 U6JK*V?= 4M K* K7
U J6 7K/JV6= J' =^ B 9J= 7PV9q 6MV;J4V6= '6p
7K=4?qV = K6 * U7=. K=V/ B V9O
y U6JK*V?= K* K7 7K=4?q
BJ 7JK=
AJVB= ;V5p
U J6 AGV?J56 7VEJ'6 B V> BJ K6V4q? K=EJ ;JK>V = K6 *
U8=/ 7J+J V96 9G ;JK>
y=R7 AGV?J56 <K4 3JV
K9>Vl2 J<q = K=V96 9G 7K/JV6= U= V,q y=R7 6MV;J46
AG={. K=V96O
U J6 7K/JV6= JV'= 7K/V/ U J6 7K=9/qV6= 7vbJV9 <K4
U6JK*V?= 7K=9/q6 7VEJ'6LE B EJ 7VC /JBJ B V> 7vbJK9/
7K=9/qV6= 7PV9q BJ= 4M K* K7 7K=4?qV = K6 * U7=. K=V/
B V9 9G 7K=4?qV = 7P9q 6MV;J46 9p/L/ y=R7 U J6 7K=9/q6
J<q = =J <J V9 6JO
U J6 7K/JV6 U J6 K4V6= JV'= K65qJK=/ A;VE= J5J #J 7V=
<K4 U J6 ?rK; JV' BJK'= B6 /JBJ B V> ;JK> y ?rK; V
y K4V6= JV' K6VEJ" K=V/ v2L J= K=V/ 7JK=V96O
O 46 *=0,5) 2Z=.G 0 )X =,G23 ,744>.<Aoo
N? 9FA= 9EA
7P.q 6J B V> U J6 AC 7K=9B6 7K/JV6 U J6 9pKyV "JCL %J> KBAJV9
K6VEJ" =J <J V9 6JO
J+JV=J 9FA= 9EA 7P.q 6J B V> 6p U J6 9pKyV y=R7 U J6
7K/JV6 6p U J6 7V4 K6VEJ" =J <J V9 6JO
O F)<= 2 ,9 F0= ~<G00 4=5$ .Y i<0 =.1 &< <Aoo 5J=J
= 5L6 U6JK*? 9G 5J=J
= 5L6 =K{/ U=K'JV= U J6 7J9EvZ ?rK;V =
6JV;= K97=LV/ 7P9q K>K79 K99=. 6M<JEL 9p/L/ K/K6 U J6 J' K=V/
7JK=V96 6J 9J /JBJV U J6 J' K=V/ U4 EJ <J V9 6JO
O F'< <) $X<=' ,vAoo
7V/p U4J J6 9J 9JK.'p 9J K? 7K/J6
7K/ AJVB eb/H U4C K46 AlP.q 9 3JK V9O
U J6 >J JE y=R7 U J6 7K/J6 U J6 U4C K46 AlP.q 9
83
3JK V9 /JBJ 75J6 7K=4?q Kv]= K=EJ K4V96H

/V9 ?/q 3JV U< 75J6 7K=4?q A;E A;E '6v2JV3q y=R7
K65qJK=/ K46 U J6 >J J= '6p 7P.H K65qJK=/ K=V/ 7JK=V96O
U J6 U4J J6 U J6 K46 =JK J* #K* J= 7= U!J>J =J!J <J V9 6JH
/V9 ?/q 3JV U y A;VE= 9p9KB/ J5J#J 7=
7<qeb y "JB V U 6J J*J= AMV<J" U4 EJ <J V9O
A= J= K9V?@ 9v]J K9V9%6JE A= J=L U"V'V* 7J76 J=J
U J6 U;YAMV; U6JK*V? K>K!/ ?V/q U J6 >J J= U4J JV6=
9V= A;E 7K=9/q6 K=V/ 7JK=V9O
5J=J= K95J6J9>L K6;gK>K!/ U{V 7V<J'p B V9 6J <3JH
, U'K* U?6 39J K9;J6 9f4= 9G 7K=9B6 AJK:qA *JK;q6J>
K8A
! 75J6/H /K= /= J=L ;JGA ;J& 4M~ 'J/LE AJ;"L =^K* U7Kr
K;K 9G 8N> K9zL= U4J J6
" 75J6/H @5 7JV=?6 A=J; 9pJV' 39J K%K FAJ AGzJeb
7VEJ'6LE AJ;"L= U4J J6
# 4J86
VebpKKzEJ AlJ4V6= '6p 7VEJ'6LE AJ;"L K9zL=
U4J J6
$ 75J6/H /J;J KA"J= KA"JV=* 7J6 K9KC 9=8 !9V== J"'
AJ;KE L K9zL= U4J J6 9G U4J JV6 9KAEJ !J EJ= '6p /=>
6J?/J K9zL= !M%=J U4J J6
% !M%=J U7V*rJ> K9zL= '6p U7V*rJ> 7Jl 9G U;=J;/ J=!J6J 6E
;6 U;J*= "JCL= AJK:qA U?6
& 6JK7/ 9G U ? 7AJ56L= U4J J6
' UJ K6uZJ?6 39J v2Jv]p 9p9v]J
( UJ 39J
7JK6 A=9=JB V=
) tJ9 UBJV*> U=VvbJ=J !J9J= U4J J6 KAV6;J 39J K3VE*J=H
/V9 ?/q 3JV U<
U4J JV6 39J 9JK.'p 7K/JV6 <K4
JK5 9p9AJ 9JK.'p 7K=%JK>/ BE 9G BJV4= K5 JG?
/JBJV4= 7 SK/= J=V.
5J=J= 5L6 9pJBK/ 7J EJ= U<J"p
/JBJ B V> A;" U4J J6 9J 9JK.'p 7K/J6K*= U{V y=R7
42
84
9pJBK/ 7V<J'p B V9H

JV=J ?/q 3JV U< 75J6 7K=4?q A= J=L U"V'V* 7JK7/
AJ5J=. 9J K9V?@ JV4? J=J 7V=Jy 7V/p 7K/J6 9J 7K/J6
U?r.L= '6p BJ= U!J>J 9V= A;E Kv]= K=EJ K4V/ 7JK=V96O
O H)=.=k ?= Aoo 7V/p ?rK; 7K/ 7K J 9FAV= 7P.q ;'M=LV/ 4?
K4V6= W6K;K &MK* 7J 9J= K5 J=L B V96 9G y=R7 &MK* U J6 J=V. U:J"
6J K=V> BJ ';J 3JK V9 6J 9G U J6 9FAV== &MK* 7=9/qL 9FAV= U:J" =J
<J V9 6JH
/V9 ?/q 3JV U<
5J=J= U J6 K &M %J 9J"JV6= 5LV6 K6<My U J6
?rK;V = U{V 7V<J'p B V9 6JO
O *>6< ?= Aoo
AG9J4 7 ?rK; 9p/L/ 7V/p ?rK; 7V/p
7K J 9FAV= 7P.q ;'M=LV/ U%Y K4V6= 7LCJ &MK* 7J 9J= K5 J=L B V96O
7V/p AG9J4 7 ?rK; /JBJ= %J N=L= U;EJV4= 6Mp6
J4? G? A;E 5q ;'M=LV/ 7LCJ &MK* 7J 9J= K5 J=L
B V96O
y=R7 U J6 &MK* ;M= =J B V9 6J <K4 6J ;JK> /Tq K6<My
'6 U=K'J,q K%K FA
39J y=R7 K%K FAV = 9/q;JV6
6p U J6 U=K'J,q K%K FA 7=L{JVeb
;V;q 7/pE6 V=6 U<
AGK? ?rK; 7LKC/ 9G /JBJ= K%K FAJ 9J JV=JV"p= '6p
7/pE6 7V K>K!/ A;E &MK*= 7VEJ'6O
y=R7 &MK* ';J 3JK V9 6J 9G U J6 9FA= U:J" =J 6J B V>
7=9/qL 9FA= BJ J= U:J" =J <J V9 6JO
O . ?0>45 ,<84=0 ?= Aoo
U J6 7K/JV6 K9K_&6g:JV9
9FA= %J N=L 7P.q K=EJV&6 ;6 7V/p 7J9EvZ ?rK; V 7=9/qL 9JV=J ;JA
A;VE /JBJ= 7P9q9/qL 9JV=J ;JVA= JV'= '6p ;'M=LAB K6;g 9K.q/ BJV= ".6J=
K:KV/ &MK* ;M= K=V/ B V9 <3JH
U J6 U4J J6 9J 9JK.'p 9J K? 7K/J6 39J U J6 J=!J6J 39J
AC 7K=9B6 7K/JV6= U{V 7K/ J+J= K46 JV'= '6p
K46
! U J6 %J 9J"JV6= U{V 7K/ 9J ? K46 JV'= '6p K46
" U J6 AG9J47 ?rK;V = U{V 7K/ "J= K46 JV'= '6p
K46O
U J6 7K/JV6 K9K_&6g:JV9
9FA= %J M=L 7P.q K=EJV&6 ;6
85
!
"
7V/p
7J 9EvZ ?rK; V 7=9/qL 9JV=J ;JA A;VE /JBJ=
7P9q9/qL 9JV=J ;JVA= JV'= '6p ;'M=LAB K6;g9K.q/ BJV= ".6J=
K:KV/ &MK* ;M= K=V/ B V9 <3JH
U J6 J=!J6J= U{V 7K/ 76= K46 JV'= '6p K46
U J6 %J 9J"JV6= U{V 7K/ J+J= K46 JV'= '6p K46
U J6 U4J J6 9J 9JK.'p 39J K? 7K/JV6= U{V 7K/ U%Y K46
JV'= '6p K46O
5J=J= 5L6 ;M= T/ U J6 &MK*= A;VE= ;V5p <K4 6p U J6
&MK* 7VC /JBJ B V> y &MK*
BJ= eb:Mqy B V9O
<K4 U J6 ?rK; U J6 9JV=J ;JA U;EJV4= ;V5p 7 5J=J
39J
= 5L6 /JBJ= 7J7p U J6 &MK* AlP.q 9J G?/ U:J" 6J
V=6 /JBJ B V> y=R7 7J7p &MK* 7=9/qL 9JV=J ;JA U;EJV4
/JBJ= 7J7p &MK*= AKB/ <My B V9O
7 5J=J
<JBJ K &M 3J N 6J U 6 U J6 7J9EvZ ?rK;V =
5J=J= 5L6 &MK* 7J 6J 9 B EJ <J V9 <!6 /JBJ= 7J 6J
K'q/ &MK*
U J6 J=!J6J 39J AC 7K=9B6 7K/JV6= U{V %K>? K46
BE
U J6 %J 9J"J6 U4J J6 9J 9JK.'p 39J K? 7K/JV6= U{V @J*
K46 BE O
7 5J=J
<JBJ K &M 3J N 6J U 6 U J6 7J 9EvZ
?rK;V =
5J=J= 5L6 &MK* 7J 6J 9 B EJ <J V9 <!6 /JBJ=
7J 6J K'q/ &MK*
U J6 J=!J6J 39J %J 9J"JV6= U{V @J* K46 BE
U J6 U4J J6 9J 9JK.'p 39J K? 7K/JV6= U{V JK? K46 BEO
U J6 ?rK;
K'q/ &MK*= '6p 4=!Jvb K=V> <K4 ;JK> U J6
J=V. BJ 6J ;M= V=6 /JBJ B V> y 6J ;M= T/ &MK*
AGK? ?rK;V = KBAJV9 7 5J=J
39J
K>K!/
AL;J= K/K=y 7J 6J KBAJV9 <My B V9O
5J=J= 7VEJ'V6 U J6 ?rK; U J6 7K/JV6 K9K_&6g:JV9 U J6
A;VE= '6p J' AlP.q K=EJV&6 9K>EJ ".p B V96 <K4 9J y
A;VE K6;gK>K!/ J=V. /JBJ= J' 9pJB/ B EJ 3JV
<3JH
43
86
'2. (X<7
U J6 9V= K46
! U J6 ;'M=LAB &MK*
" 7LCJ 9J 4M#q*6J= J=V. ;'M=LAB 9J ;'M=L &JCJ U J6 &MK*
# 6K5 U@J> AJB 7<qeb 7APK/ &MK*
$ U J6 U> 8
% J 6 Alo/ U J6 5;q#* 9J U9 J 6L U J6 > J *O
O 84, ?= Aoo
7V/p ?rK; V 7K/ 7K J 9FAV= "J= K4V6=
;'M=LAB FA9 &MK* ;M= K=V/ B V9O
K9K5 J=J K65qJK=/:JV9 ;JK>
y &MK*= K46
/JK=! Kv]=
K=V96O
U J6 ?rK; V U J6 FA9 &MK*= K4V6 J' K=V/ 9>J <J V/
7JK=V9 /V9 BJ= '6p /JBJV 5J=J
= K95J6 6M<JEL 4M
K4V6= ;'M=LAB {K/7P=. &MK* 9G K* K9 &MK* ;M= K=V/
B V9O
O ?= &,< ,Gv0 4.G70 . ?0> =54<, *r'<)Aoo
J V6=
5L6 U J6 ?rK; V ;M= T/ &MK* 9J 9V= '6p U< BJV= ;'M=L 7V4E /JBJ B V9
K/K6 /JBJ= &MK*= 9p9KB/ 7P9q9/qL ;JVA U< K46 }K>V/ J' K=EJV&6 UA
K46}K>= '6p 74 K5 J> :J/J U9J6JA 9p/L/ /JBJ= 7P.q A;VE= ;'M=L
9G ;BJ#q :J/J 9G ,B 9J eb9/qL ;'M=L <K4 3JV
= W4K6 "VC= A;J6H
/V9 ?/q 3JV U< <K4 U J6 7K/JV6= U J6 ?rK; !J4p ?@p A=9=JVB=
AMV<JV"= 7K=9V/q U J6 6"4 3q 7J V/ K5 J=L B6 /JBJ B V> BJ /JBJ=
;'M=L= AV AG<My B V9O
<K4 U J6 7J 9EvZ ?rK; V
AV 6Mp6 %J= K4V6= 9G U J6
7J 9EvZ ?rK; V
AV 6Mp6 7IJ% K4V6= 9JFAK= &MK* ;M=
=J BE /JBJ B V> </4M= Alj9 /JBJ= &MK* =^ B 9J= 7PV9q
/JBJV &MK*= ;'M=L 74J6 K=V/ B V9O
87
. ?0>
5<0 *=0G2<(
O . ?0>0 =,G23 49f<Aoo K9@E 39J 7AV= 7K=7e]L U J6 K &M 6J

3JK V>
5pJVE ;'M=L 9K>V/ 5J=J
;'M=L 9K>V/ U< 3q =J
B EJV& /JBJ 9G K6;gK>K!/ 7J 6J}K> BJ= eb:Mqy B V9 <3JH
K6VEJV"= ?/q U;J/JV9 7V4E U J6 U9J6JA 39J 6p U J6
K/K=y 7JK=?rK;
! &MK* 9 39J K5 J> V;q= '6p 7V4E U J6 7JK=?rK;
" U J6 J4J>V/= JV4? 39J 7{VE= ;V5p U J6 U=JVE4J4 9J
K6uK= 5LV6 7V4E U J6 7JK=?rK;
# %J N=L= 9AJ6 BJ &IJ*J K,A%J'q 7AJ=. 74/pJ" 9A=
9=!Jvb 39J 6p U< :JV9 B 6J U 6 = J=V. U J6 %NKy
9J
J V6= 5L6 7V4E U J6 3q 9G
$ U> 8 39J AJ;KE 9=!JVvb= J=V. 7V4E U J6 3qO
O . ?0> *=0G2<G(0 '<=7$SAoo 7V/p ;JK> /F /Tq K6<My 7V/p
?rK; V
J V6= 5L6 7K=V?J5 K=V/ B V9 =R7 A > ;'M=L 7K=V?J5
K=9J= '6p 4JEL 3JK V96H
/V9 ?/q 3JV U< K+ J4J= /Tq K6<My U J6 ?rK;V = U{ 9p/L/ 6pJ6p
A > ?rK;V = U{V U J6 7K/JV6= 75J6 K69qJBL ;q /qJ 9p9v]J7
39J
BJ= /iJ95J6 K6EeV.= '6p ;JK>V = K6 * 4JEL 6p U J6 9pKy y=R7
7K=V?JV5= '6p 4JEL 3JK V96H
JV=J ?/q 3JV U< K+ J4J= /qS K6<My U J6 ?rK;V = ;'M=L y K+ J4J=
/qS 7K=V?J5 6J =J B V> UA U{V 7K/JV6= ;JK>
/qS y ?rK;V =
;'M=L 7K=V?J5 =J B V9 <JBJ K+ J4JV== K6 * B V/ A;e2E =J B V9O
O . ?0> <1 =\L=0 0#Aoo
5J=J
= 5L6 ;'M=L 7K=V?JV5=
'6p 4JEL 7V/p 9pKy y=R7 ;'M=L 7K=V?J5 AlV q ;'M=L J> Kv]= K=V96O
U J6 ;'M=L J>
;JVA= V5q B V9 6JO
O . ?0> *=0G2<G(0 4.7Aoo
U J6 ?rK;V = U< ;'M=L J> AlV q
/JBJ= ;'M=L 7V4E BE UA J> U?@ B EJ= 7=9/qL AJ/ ;qK49VA= ;V5p /JBJ=
;'M=L 7K=V?J5 K=V/ B V9O
U< U{V U J6 ?rK;V = %J N=L /JBJ= 9A= "BV.= J=V. 9AJ6
BE 39J ;JK> /qS /JBJ= &J*J K,A%J'q 7AJ=. 9=!Jvb
44
88
39J 6p U J6 J=V. BJ= 9AJ6 =J BE UA U{V y

?rK; V 7V4E A > ;'M=L /JBJ= %J N=L 9AJV6= /JK=! B V/
7=9/qL AJ/ ;qK49VA= ;V5p 7K=V?J5 K=V/ B V9O
A > ;'M=L ;qK49VA 7K=V?J5 K=V/ B V9O
O *r =1$ .?'Z< &,< <G0w> F)< $X<=' t<0< . ?0> *=0G2<(Aoo A >
;'M=L 7%K>/ ;M4rJ JV=L U6J* 39J 9pJGV = U%V = ;J5pV; 7K=V?J5 K=V/
B V9O
O . ?0> 5 G$ $Y) F/< X =,37<='Aoo
J 6 J=J 6MV;JK4/
/qV6= U{ 9p/L/ 6p U J6 U{V U J6 ?rK;V = ;'M=L B V/ K &M /q6 =J
<J V9 6JO
U 9>;J
J V6= K95J6 6M<JEL U J6 ?rK;V = ;'M=L B V/
/q6 =J <J V9 9G y=R7 /q6 U 9>;J K6;gK>K!/ 7 JV==
B V9 <3JH
5J=J
= 5L6 JV=JK7/ 'K=;J6J
! /q9p JV' 66MV;JK4/ 6M7Kv]K/= '6p /q6
" U J6 ?rK;V = UB8J'V/ 74 ;JK>V = U J6 ;J>J;JV>= {K/ 9J
U>J AJ6 39J K/K6 U< V3q= '6p KBAJ9 K4V/ 4JEL UA 3q
K96K= '6p /q6 <K4 y=R7 {K/ 9J K96K= '6p A=JAK= /JBJ=
9VB>J 9J "JK8>K/ 4JEL BE
# ;JK> /qS A=9=JB T/ 9JAv]JV6= '6p /q6
$ %J N=L= 7VEJ'V6 9p9/ IJ%J;J> <e7JK/ 9p/L/ A= J= /qS
6MV;JK4/ 9G ;JK>
/qS A=9=JB T/ AMV<J" AMK95J UA9J=
'6p /q6
% U J6 K"; 9J 'q J4JVE= '6p /q6 39J U J6 K/K=y ;'M=L
74JV6= U{V BJ A;e2VE= '6p /q6
& ?rK; /qS 7V4E JE = 9J94 /q6
' U J6 J4J>V/= JV4V? /q6 39J y=R7 /qV6= JV4?
U4 EJ= {;/J Al6g U J6 /qS7V{= JV4V? /q6
( :K9@p /BK9> J 6
AV6=
6G J 6 7V<J'p
BE
= ; U J6 :K9@p /BK9> 39J JE = J 6
AV6= 6G J 6 AJKE/ U J6 v2L T/ :K9@p /BK9>
39J A= J= /qS
6MV;JK4/ 6p U J6 :K9@p /BK9V>= '6p
%IJ4J /q6 39J BJ B V/ 74 K"; J4JVE= '6p /q6
89
) A= J= /qS 6MV;JK4/ U J6 A;9JE AK;K/V 74JV6= '6p 39J

9JG>JV4? ,J K9:J" 39J A= J=L U J6 9L;J U JlJ6L /qS
AG=K{/ U J6 9L;J vZL;V 74JV6= '6p /q6
* ?rK; "V.= 39J /JBJV4= 7K=9JV== A4Ap"V.= >pJV.= '6p
A= JV== 6MV;J46zV; ;JK>
/qS "K+/ U J6 /BK9> 39J
/F /qS 7.L/ U J6 vZLV;= '6p ?rK; "V.= K>K!/ AloK/V/ %IJ4J
/q6 9G
+ U% 8 7K/V/ KAK9
K6EV6= '6p %JI4J /q6O
O $YG,X )?*=\L=$0 )X . ?0> $Y)Aoo
5J=J
! =
5L6 ;qv]> B V/ 6M7Kv]K/= J=V. U J6 ?rK;V = ;'M=L B V/ /q6 U 9>
/!6 =J <J V9 <!6 /JBJ= K6VEJ" = ?/qJ6M<JEL J' =J= 3J /!6 <K4
K/K6 A;vb A;VE= '6p 39J BJ= U J6 GV?= '6p 6M7Kv]/ 3JV 6O
y=R7 /qV6= 7K=;J. U J6 U{V
6M7Kv]K/= A;VE= '6p
/JBJV 7V4E ;'M=L= 7K=;J. = K5 B V9 6JH
/V9 ?/q 3JV U< A= J= /qS /4 VV?p 7.L/ K9K5 AJV7V{
<K4 4? 9J /V/JK5 ?rK;
V<JV" K96J U6JK*V? 9G <MKyAG"/
J=. 9p/L/ JV' 6M7Kv]/ 3JV 6 /JBJ B V> y 7V/p
?rK;V = K6 * B V/ ;'M=L /qV6= AKB/ 6K5
J* K4V6=
;'M=L <My =J <J V9 <JBJ /JBJ= K6VEJV"= ?/qJ6M<JEL U6JK*V?=
7K=9V/q ;JK> V 7V4E BEO
,X< X<Aoo
5J=J= VV?p U J6 ?rK; U J6 ;qv]> B V/
6M7Kv]/ 9K>EJ ".p B V96 <K4 K/K6 yv]JV6 7Kv]/ B EJ
AVi U J6 9v]J6 5;q#V*= J=V. 39J 6p U J6 V<YKy
J=V. /JBJ= J' K=V/ v2L J= V=6O BJ U*r, K6E6
;q /qJ= U{V 7V<J'p B V9O
O `=$ ,< =,)={0 )X . ?0> $Y)Aoo
5J=J
" = 5L6
U J6 /q6 AGK? ?rK;V = 9VB>J 9J "JK8>K/= J=V. #K*/ ;JK>V = {K/
9J K96K= 7K=;J. V7{J U9?L B V9 6J 9G y=R7 U J6 /q6 =J <J V9 6J
</{. 7<qeb 6J y /qV6= K9=^V 6pJE K9%JV== 6LK/ 6MA=. K=EJ <3J<3
/4Veb= ;J5pV; y ?rK; V U4J@L AJ9pvb =J BEO
y=R7 A > /q6 9G BJ= A > J4JE K9K5 J=J K65qJK=/
U=K'JV= ;'M=L 7K=V?JV5= 4JKEV/i K6<My 9pKy /qS K>K79
K=V/ B V9O
45
90
O F4,< *r'<G)0 )X . ?0> $Y)Aoo 5J=J

# 9G $ =
5L6 U J6 ?rK;V = ;'M=L B V/ U J6 /q6 =J <J V9 6J <K4 6J A=9=JB T/
9JAv]J6 AMV<J" AMK95J 9J UA9J K6VEJV"= ?/q 6MAJV= 39J 6p:JV9 AGK?
?rK;
/qS "SBL/ BE 9G y=R7 U J6 /q6 U J6 9v]JE A=9=JB T/
9JAv]J6 AMV<J" AMK95J 9J UA9J= ;PV>p= K5 B V9 6J 9G 48J $ = 5L6
/qV6= U{V BJ A= J= /qS JV=JK7/ ?/q AJV7V{ B V9O
O Y ,< = r. <'<G70 )X . ?0> $Y)Aoo 5J=J
% =
5L6 A > /q6 K6;gK>K!/ ?/qJ5LV6 B V9 <3JH
%J N=L =^ B 9J= 7PV9q 74 . 9J K"; J4JE 9J94 /q6 K*
7P.q ;'M=L JV>= '6p 7K=V?J5 T/ 73; ;'M=L B V/ =J B V9 K e\ 6M=R7 U J6
/q6 ;. !=V%= '6p 74 . 9J K"V;= U{V =J <J V9 6JO
! K'q/ BE 6J ;6 U J6 ;'M=L 9J94 74 . 9J K"; BJ K
7K=;JV. U4 EJ <J V9 9G / K KvbV/ J4JE =J <J V9
/FAl2V A= J= /qS 7.L/ U J6 U J6 K9K5 AJV7V{ K65qJK=/
B V9O
O . ?0> 5 G$ )X<)X $Y)Aoo 5J=J
)
* 9G +
= 5L6 ;'M=L B V/ A > /q6 A= J= /qS JV=JK7/ ?/q AJV7V{ B V9O
O .D$ 2Z=.G 0 *=0G2<=($ . ?0> *=0G2<(Aoo
5pJVE=
6pJ6p K95J6 AJV7V{ U J6 ?rK; V ;'M=L KBAJV9 7V4E A > 3q /JBJ=
;S/Mp'K6/ J=V. 39J /JBJ= U J6 U!IJ' 6J 7J EJ= J=V. <K4 7K=V?J5 =J 6J
<JE /JBJ B V>
K9K5 6M<JEL /4 VV?p AGK? ?rK;
/qS ;V6J6L/ U J6
9pKyV 74J6 =J B V9
! y=R7 U J6 ;V6J6L/ 9pKy 6J 3JK V> 39J U J6 J=V. y=R7
U J6 ;V6J6L/ 9pKyV BJ 74J6 =J 6J U"V> ?r; J4J>V/ ';J
K4V/ B V9 9G y J4J>/ K9K5 6M<JEL /FAlV q 9p9v]J "B.
K=V9O
U< U{V 7 5J=J
= K95J6 6M<JEL U J6 ?rK; V ;'M=L
KBAJV9 7V4E A > 3q ;JK>
/qS AGK? ?rK;V = ;V6J6L/
9pKyV 74J6 =J B EJV& 39J ?r; J4J>V/ ';J U4 EJ
B EJV& UA U{V y ;'M=L 74J6 AlV q ;JK> /JBJ= 4JKE/i
B V/ ;My B V96O
91
O . ?0> 5 G$ $Y) ,< . ?0> =,1GU% *=0G2<G(0 <0G# =l$ '<,>Aoo

U< U{V
J V6= K95JV6= U!>J7 U J6 ?rK;V = ;'M=L B V/ U J6 /q6
=J BE 39J U J6 ?rK;V = ;'M=L 7K=V?J5 =J 6J BE 39J /JBJ= ;'M=L K G9J
U J6 K9K5= J /JE 7V4E "J%N K* 9J :K9@p /BK9V>= 7J7p 7K=V?JV5 K9>l2 #V*
UA U{V K/K6 39J /JBJ= ;S/Mp B V> /JBJ= U J6 =JK5 J=L 39J U J6
J 6A/ 7K/K6K5 /Tq ;'M=L U8=/ 7J EJ= '6p 39J 9V EJ 9J K9>Kl2/
;'M=L
6pJ6p 7J 6J J4JVE= '6p ?r; J4J>V/ 4=!Jvb K=V/ 7JK=V96O
y=R7 4=!Jvb AGK? ?rK; U< v]JV6 J' K=V/6 39J U<
v]JV6 /JBJV ;'M=L 7K=V?J5 =J B / UA v]J6 U< ?r; J4J>V/=
!K/EJ=J5L6 UA ?r; J4J>V/ ;'M=L /qV6= /JK=! B V/ 39J
U{;/ ;'M=L 7V4E B EJ= /JK=! B V/ 9JV=J ;JVA= ;V5p U7?
K=V/ B V9H
/V9 ?/q 3JV U< y=R7 U J6 4=!Jvb y A;VE= 7V= U7?
=J <J V9 <K4 4=!Jvb J=L ?r; J4J>/V
;V;q Ae\ K=V/
7JV=6 U< y A;VE= ;V5p 4=!Jvb 4JK!> 6J =J= K7&V6 /JBJ=
<V3 J=. K&>O
?r; J4J>/ 7 5J=J
= 5L6 U J6 4=!Jvb 7JK= 7= BJ=
7= 4=!Jvb J=L 9G ;JK>
39J ;'M=L 7K=V?JV5= '6p
5pJVE= K95J6 6M<JEL 4JEL 6p U J6 9pKyV
6J6L= '6p
<MKyAG"/ AMV<J" 4J6 K=V9 9G 7VEJ'6LE AJ{p 7;J. "B.
K=V9 9G U< ;'M=L /q6 =J B EJV& 9J U< ;'M=L 7K=V?J5 =J
BE 6J 9J 7K=V?JU5 K9>l2 =J B V/V& BJ 4=!Jvb J=LV
7K=V?J5 K=9J= '6p ;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL y
9pKyV K6V4q? K4V/ 7JK=V9O
7 5J=J
= 5L6 U J6 JV4?
J V6= 5L6 y ;JK>
9J ;'M=L 7K=V?JV5= '6p 4JEL 9pKy= K9=RV "B.LE U J6
?JKvb;P> 9p9v]J= BJK6 K=V9 6JO
?r; J4J>/ 7 5J=J
= 5L6 74 K6V4qV?= A;E ;'M=L=
?/ =J 7IK%? :J" {K/7P=. KBAJV9 4=!Jvb J=LV 74JV6= '6p
;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL 9pKyV K6V4q? K4V/ 7JK=V9O
;'M=L 7K=V?JV5 K9>Vl2= U{V 7 5J=J
= 5L6 {K/7P=.
74JV6= '6p U J6 K6V4q? U4 EJ <J V9 6J <K4 ?r; J4J>/
;V;q Ae\ BE U< y K9>Vl2= J=. K&>
46
92
?rK; V 7V4E ;'M=L= 7K=;J. AlV q 7 T/ :M> 9J 7 T/ K9V=J5

! U J6 '=^=L 9v]J 39J K9V?@ 7K=Kv]K/= J=V. ;'M=L 7K=V?JV5=
'6p 4JEL 9pKy /qS /JBJ= <MKyAG"/ U%J AVi <3JA;VE BJ
74J6 K=V/ {;/J 39J
" ;'M=L "BV. 39J BJ= '6p 4=!Jvb K=V/ ?rK;V = 9p3q/JO
5J=J= 5L6 U J6 4=!Jvb 6J6L JV> <K4 ?r; J4J>/
;V;q
Ae\ BE U< y 4=!Jvb K9V@ 7AP/ 39J K9=Ky = /JBJ B V>
J4J>/ 4=!Jvb J=LV 6K5 4M ?/ *J J 7<qeb 'K=;J6J K=V/
7JK=V9 9G BJ ;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL 9pKyV
74J6 K=9J= K6V4q? K4V/ 7JK=V9O
O (<0<
0 (>) '0 <G\O0 F`Gm F < Y =+4Aoo
5J=J
= 5L6 U J6 4=!JVvb= '6p 4=!Jvb J=LV A;6 'J=L= K8A 9p/L/ J= U J6
U J*q K8A K4V/ B V9 6JO
U< U{V 4=!Jvb J=L ;J;>JE A8> B6 UA U{V ?r; J4J>/
4=!JvbK* <K4 3q J4JVE= '6p U J6 U4 EJ6L J4J>V/ 4JK!> T/
J=K' B / /JBJ B V> BJ= '6p UJ= '6p 7V4E 9K>EJ KBAJ9 K=V9 9G ;JK>
9J 5J=J
= 5L6 ;'M=L 7K=V?JV5= '6p 4JEL 9pKyV y 3q
74JV6= '6p K6V4q? K4V9O
7 5J=J
= 5L6 7V4E 3q <K4 ?r; J4J>/ /qS K65qJK=/
A;VE= ;V5p J4JE =J 6J BE /JBJ B V> BJ A= J=L 7J7p
KBAJV9 J4JEV<J"p B V9O
O . ?0> *r<x 5) )< &,< . ?0> =$Y$ 5 7<G
0C* 2Z=. G'0 *G`
'<,> <'<G70 )X = .<m '0 <\OAoo
;'M=L 7J B6 6J 39J ;'M=L
K/q/ B EJV& =R7 ?rK; V4= 7V{ eb:qMy A > 39J JK5 ?rK;V = 7V{
5J=J
= 5L6 ;J K* 4=!Jvb 4JK!> =J <J V9 9G =R7 U{V 5J=J
= 5L6 U J6 {K/7P=. 7V4E B V9O
?r; J4J>/ 5J=J
= 5L6 4JK!> T/ ;'M=L 7J B6 6J
=R7 ?rK; 4>:My JK5 ?rK; /qS 4JK!> T/ v2/e 4=!Jvb
A;PBV
K* 4=!Jvb KBAJV9 ".p K=V/ 7JK=V9 9G /46M<JEL
}K> V
4=!Jvb KBAJV9 K6uK K=V/ 7JK=V9 9G UAV{V
7 5J=J
= K95J6 7V<J'p B V9O
5J=J= 7VEJ'V6 ;'M=L 7J B6 6J =R7 ?rK; 4> =
93
eb:Mqy 9K>EJ A;vb ?rK; V 9M(J V9 <JBJ=J

7K/JV6
%J N=L=/ JV&6 9G <JBJV4= 6J4JEL ;'M=L 39J K9>Kl2/ ;'M=L
;'M=L JV>= '6p B EJ 3JV O
O <*>1Aoo
5J=J
= 5L6 74 ?r; J4J>V/= U J6
JV4V?= K9=^V BJ 74JV6= /JK=! B V/ K? K4V6= ;V5p *rJ 9Mp6JV> J7L>
=J <J V9O
7 5J=J
<JBJ 3J N 6J U 6 ?r; J4J>V/= y JV4V?
7V4E ;'M=L 9J {K/7P=V.= 7K=;J. <K4
BJ'J= *J J= K5 6J
BE /JBJ B V> ;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL U J6 9pKy
y JV4V?= K9=^V U J6 J7L> K=V/ 7JK=V96 6J 9G <K4
U;J* 4J9L T/ ;'M=L 7IJ%?/ *J J= V5hq 6J BE /JBJ B V> U J6
?rK; 9J /JBJ= ;S/Mp= 7= /JBJ= U J6 =JK5 J=L 39J
J 6AG"/ 7K/K6K5 y JV4V?= K9=RV U J6 J7L> K=V/
7JK=V96 6JO
;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL U J6 9pKy /qS U J6
J7L> =J <J V9 6J <K4 6J J7LV>= voJ=V = AV ?r; J4J>/
/qS 74
;V;q K* 7/pE6 7 AG<My 3JV U< J7L> J=L
U< 3q 74JV6= JV4V?= K9=RV J7L> K=V/V&6 UA 3q ?r;
J4J>V/ ';J K4EJV&6O
5J=J= 5L6 J7LV>= U{ 9p/L/ 6p A > U{V 5J=J
= 5L6 ?r; J4J>/ /qS 74 A > JV4? %PCJeb B V9O
/J;J4L J 6
AV6= 6G J 6 = 5J=J
=
K95J6
5J=J= 5L6 J7LV>= U{V 7V<J'p B V9O
O .<=1 ,< . ?0> *=0G2<G(0 )X '<7> )X F <) ,X=^0 4U=k0
2$Y<(>) F_< Aoo
U< U{V U/
39J
! 5J=J
= 5L6 U J6 ?rK;
/qS
J7L> U7? =J= 7=
*rJ 9Mp6J>
;V;q Ae\ BE U< ;JK>V = 39J 5J=J
= 5L6 ;'M=L
7K=V?JV5= '6p 4JEL 6p U J6 9pKy= 5J=J
9J 5J=J
=
5L6 74JV6= '6p JV4? T/ U J6 3q 7K=V?J5 CJ 9J= AljJ96J
JV& /JBJ B V> y J4J>/ 9J U{;/ *rJ 9Mp6J> y ;JK>
47
94
<'2 (X<7
9J 9pKyV
6J6L= AMV<J" 4J6 K=EJ y JV4? T/ 3q
7K=V?JV5= '6p /JBJ= AlK UzJ K=V/ 7JK=V9H
/V9 ?/q 3JV U< K9>Vl2= J=V. V?p 9p3q B EJ= AljJ96J
3JK V> y J4J>/ 9J *rJ 9Mp6J> 6J6L= AMV<J" U4 EJ= 7PV9q
y=R7 UzJV = JV4? K4V/ 7JK=V9H
JV=J ?/q 3JV U< y J4J>/ 9J *rJ 9Mp6JV>= K9V9%6JE U<
7K=;J. AlK UzJ JV4? T/ 3q J4JVE= '6p <V3 B V9 U<
7K=;J. AlK UzJ =J B V9O
K9%JV== 7PV9q AlK UzJ Al qLE U4 EJ6L J<q K9K5 = A >
K95J6 7 5J=J
= 5L6 UzJV = U{V 7V<J'p B V9O
O =$*7 F`Gm .<=1G 0 =) 5 G$ &Y <'<7AooU< U{V 5J=J
= 5L6 ;'M=L 7K=V?JV5= '6p 4JEL 6p U J6 9pKy= K6 * B V/ ?r; J4J>/
/F /qS 9J *rJ 9Mp6J> /qS
JV4? T/ U J6 3q J4JE K=V/ {; BE UA
U{V y J4J>/ BJ ;JK>V = K6 * B V/ J4JE K=V/ 7JK=V9O
95
. ?0> F,<!Y
O =).R$. . ?0> F,<!Y *r=$|<Aoo
A= J= K6;g/; ;'M=L U9J,q 6JV;
K* U9J,q 7K/J K=V9O
K6;g/; ;'M=L U9J,q /H7=
5pJVE ;'M=L U9J,q 9K>EJ
K>K!/ K6;g=R7 A4Ap A;e2VE "K+/ B V9 <3JH
U%EJ=;pJ6
!
'6 K6=V7{ A4Ap
" ;JK> "V.= 7K/K6K5/i J=L '6 A4Ap 9G
# ?rK; "V.= 7K/K6K5/i J=L '6 A4ApO
5J=J
K>K!/ 4JKE/i 7J>V6= 7VEJ'V6 ;'M=L U9JV,q
K6;gK>K!/ A4ApE eb:Mqy B V96 <3JH
AGK? K?V= ;JK> "V.= 7K/K6K5/i J=L '6 A4Ap
! AGK? K?V K6<My ?rK; "V.= 7K/K6K5/i J=L '6 A4ApO
;'M=L U9JV,q= U%EJ=;pJ6
6pJ6p A4Ap". A= J= /qS K6<My
B V96O
;'M=L U9JV,q= U%EJ=;pJ6 K6=V7{ A4Ap ;6 9pKy"V.= ;5p
B V/ K6<My B V96 <JBJV4= K? ?rK;
U4V?= JK3q
9v]J
AlV q 7<qJ J6 JV& 9G <JBJ=J U J6 K?V= AKB/ AGK?
6VB6 39J U J6 ?rK; 9J ;JK> "V.= U*r, K6EV6= AKB/
AG<My 6VB6O
A= JV== ;V/ U< A > 7K/J6 ;JK> "V.= 7K/K6K5/i J=L 9G
UA A > 7K/J6 ?rK; "V.= 7K/K6K5/i J=L UA A > 7K/JV6=
U J6 ;V6J6E6 3JK V> BJ K9V9%6J K=EJ 7 5J=J
9J
= 5L6 ;JK> 9G ?rK; "V.= 7K/K6K5/i J=L A4Ap".V K6<My
=J B V9H
/V9 ?/q 3JV U< <K4
JK5 7V%JE ;JK> K G9J ?rK;
7K/K6K5= ;V6J6E6 6J 7J EJ <JE /JBJ B V> A= J= K6'
K9V9%6JE <JBJV 7<My ;V6 K=V9 /JBJV ;JK> K G9J ?rK;
7K/K6K5/i J=L A4Ap KBAJV9 K6<My K=V/ 7JK=V9O
O =$*7 2Z=.G 0 )X =).R$. . ?0> 5<G00 4?*<=02Aoo
U< U{V
U J6 K?V K6<My ?rK; "V.= K9=J';J6 ;'M=L BJV== 7K=V7K{V/ A= J=
;V;q
48
96
K:;/ U7J@. V= U< y K?V K6<My A > 9J U< U J6 U?r.L= ?rK;V = K6;g/;
;'M=L BJ= Kv]= =J 7VEJ'6 9G <MKyAG"/ UA U{V A= J= ;'M=L U9J,qV
7VEJ'6LE /4ebJVeb y ?rK; ". 9J ?rK; U?r.L= '6p K6;g/; ;'M=L BJ= AM7JK=?
=J= '6p K6V4q? K4V/ 7JK=V9O
,X< X<Ao U J6 K?V= ;JK> K G9J ?rK; 7{ 39J :E 7V{= 4JK!> T/
JV946zV; A= J= UA K?V K6<My ?rK;V = 6Mp6/; ;'M=L= BJ= K65qJ=V.=
K9@EK* K9V9%6J K=V/ 7JK=V9O
;'M=L U9J,q y=R7 K6V4q? 7JK= &E ;JVA= ;V5p A= JV== K6 *
BJ= AM7JK=? U7? K=V9H
/V9 ?/q 3JV U< ;'M=L U9JV,q= 6MV=JV5 A= J= y U;EJ4 9SK
K=V/ 7JK=V9O
7 5J=J
= K6V4q? U;J/JV9 ;'M=L U9J,q U J6 U"V,= A >
?rK; U?r.L= '6p K6;g/; ;'M=L BJV== AM7JK=? K=V/ 7JK=V9 9G
y=R7 AM7JK=V?
U;EJ4L J' 9G K+ J JV'= '6p K6;g/; ;'M=L= BJ= 9G
! K+ J JV' K6<My ?rK; "V.= '6p K6;g/; U;EJ4L BJ= =
AMK6K4q:JV9 V>! K=V/ 7JK=V9O
;'M=L U9J,q /qS AM7JK=? T/ U;EJ4L BJ= #J W4K6 AJJKB 9J
;JKA K:KV/ B V/ 7JK=V9O
;'M=L U9J,q BJ= AM7JK=V? K6;g/; ;'M=L= BJ= A;" U4V?= '6p
:JV9 "B. =J K%/ B V9 6J K
BJV/ K>K!/ v]JV6
BJV/ 9K.q/ v]J6LE 9pK/z; AB JV= "B. =J K%/ B V9 BJ
K6V4q? K=V9O
U J6 K?V K6<My ?rK;V = '6p Kv]= T/ 6Mp6/; ;'M=L= BJ=
A= JV== K6V4q?zV; 7K/ 7JI% 9&= eb= 7M6HK65qJ=. K=V9O
O =).R$. . ?0> 5<0 F <3#< 0<0 `.$<Aoo
5J=J
= 5L6
;'M=L U9JV,q= AM7JK=? 7J B 9J= 7= A= J= A= J=L U"V'V* 7J76 J=J
U#[email protected] K=V/ 7JK=V9 U< ;'M=L U9J,q /qS K9K:6g ?rK;V = '6p AM7JK=? T/
K6;g/; ;'M=L= BJ= 7J7V6 K>K!/ 9pK/z; AJV7V{ y=R7 ?rK; "V.=
'6p K6;g/; ;'M=L= BJ= B V9O
<K4 A= J= ;V6 V= U< y=R7 AM7JK=? U J6 9pJ7JV=
;JK> "V.= 9J ?rK; "V.= '6p 6pJEA/ 6VB /JBJ B V> A= J=
AM7JK=? 7JK= K? K4V6= ;V5p BJ 7M6=JE K9V9%6J K=EJ
97
U4K!9J= '6p ;'M=L U9JV,q= K6 * U8=/ 7J+J V/ 7JK=V9 9G

y=R7 U8=/ 7J+J 9J= A;E A= J= K%/ K9V9%6J K=V>
AM7JK=V?= 7= BJ= U J6 ;eb9p 9G /FAlV q U J6 /3p
74J6 K=V/ 7JK=V9O
U< U{V U J6 AM7JK=? 7 5J=J
= 5L6 ;'M=L U9JV,q= K6 *
U8=/ 7J+JV6J BE UA U{V ;'M=L U9J,q A= JV== ;eb9p
/F /qS U7K=/ /3p K9V9%6J K=EJ BJ= AM7JK=? 7M6=JE
7<qJV>J%6J K=EJ U4K!V9 9G 7VEJ'6 B V> J= /4eb
7K=%J>6J K=V9 9G /F7= A= JV== K6 *
K* AGV?JK5/
AM7JK=? U7? K=V9 39J <K4 U9JV,q= K9V9%6JE AM7JK=V?= U J6
AGV?J56 9J 7K=9/qV6= 7VEJ'6 6J 3JV /JBJ B V> J=. K99S/
K=EJ UA ;V;q A= J=V 9KB/ K=V9O
7 5J=J
= 5L6 AM7JK=? 7J B 9J= 7= A= J= A= J=L
U"V'V* 7J76 J=J U#[email protected] K=V/ 7JK=V9 U< ;'M=L U9J,q /qS
y 7 5J=J= 5L6 AM7JK=? T/ K9K:6g ?rK; "V.= K6;g/; ;'M=L=
BJ= 7J7V6 K>K!/ AGV?J56
9pK/z; AJV7V{ y
?rK; "V.= '6p K6;g/; ;'M=L= BJ= B V9O
7 5J=J
= 5L6 7J7V6 <K4 /4AlV q U J6 /JK=!
V>! 6J 3JV /JBJ B V> BJ= 5L6 U#[email protected]* BJ 7 JK?/
B 9J= /JK=! B V/ J<q = B V9O
U< U{V 7 5J=J
39J
= 5L6 U J6 7J76 7 JK?/
B 9J= 7= 39J BJ= 5L6 U#JK@/ U J6 K6;g/; ;'M=L= BJ=
J<q = B 9J= 7= BJ A= JV== 6'V= JVA U< y=R7 U#JK@/
K6;g/; ;'M=L= BJV= U J6 ^K* JV& UA U{V A= J= K9@EK* ;'M=L
U9JV,q= K6 * U7=. K=V/ 7JK=V9 9G y=R7 U7=. 7 5J=J
= 5L6 U7=. 9K>EJ ".p B V9O
5J=J= 5L6 U#JK@/ K6;g/; ;'M=L= BJ= %PCJeb B V9 9G
/FAlV q U J6:JV9 U J6 J4J>V/ 9J U J6 /Tq7V{= K6 * 7?g
=J 9J J7K J76 =J <J V9 6JO
O 4?*<=02 *r#7G) =,G, X =,37Aoo U J6 AM7JK=? 7.E6 =J JV> ;'M=L
U9J,q 'L96 <J76 9pE 'L96 <J7V6= ;J6 F7J46 !=% F7J46?L>/J
F7JK4/ 4rV9p= ;P>p ;M4rJv8LK/ JV'= 5=. (IMK
;J6 9p9AJKE AJ;3qp
U4V?= 9G AGK? >J J= J3q AJ;JK'
9v]J 9G 6pJ6p 7JAK K9@E
49
98
K9V9%6J K=EJ U4K!V9O

O =).R$. . ?0> 5<G00 */Y<7_=. */Y<G1< )<Aoo
5J=J
K>K!/ K9@EJK4 9J 6p U J6 7JAK K9@VE= U J6 7K=9/qV6= J=V. 7VEJ'6
B V> ;'M=L U9J,q BJ= U J6 AM7JK=? 7M6=JE 7<qJV>J%6J K=EJ U4K!V9 9G
A= JV== K6 * 5J=J
= 5L6 U#JK@/ K6;g/; ;'M=L BJV== U J6 AGV?J56
9J 7K=9/q6 AM7JK=? K=V9H
/V9 ?/q 3JV UJ%6J =J <J V9 6JO
5J=J= 5L6 U J6 7<qJV>J%6J 9G AM7JK=? 5J=J
= 5L6
/4eb 9G AM7JK=? 9K>EJ K9V9K%/ B V9 9G
5pJVE= K95J6
</4P= Alj9 U{V 7V<J'p B V9O
O 49,<'*m 2Z=. G#0 . ?0> F,<!Y )Aoo
A= J= 7VEJ'6 ;V6
K=V> A= J=L U"V'V* 7J76 J=J AG9J47 ?rK; "V.= ;'M=L K65qJ=V.= '6p
AG9J47 ?rK; ;'M=L U9J,q 6JV; K* v2/e ;'M=L U9J,q "+6 K=V/ 7JK=V9O
y U9J,q /H7=
5pJVE AG9J47 ;'M=L U9J,q 9K>EJ
K>K!/ A= J= /qS K6VEJK'/
'6 U%EJ=;pJ6 9G
AG9J47 7K/JV6= ;JK>
AG9J47 ?rK; "V.=
7K/K6K5/i J=L A;AG!p A4Ap A;e2VE "K+/ B V9O
O 49,<' *m 2Z=. G#0 )X . ?0> =)(Y<0#Aoo
AG9J47
?rK; "V.= '6p ;'M=L K65qJ=. JV> AG9J47 ;'M=L U9J,q 'L96 <JJ= 9pE
A= J= V7qJV=?6 9G 9pKy;JK> J6J5L6 7K/JV6= A;/N>p %J N=L= ;'M=L=
K9=J';J6 BJ= U4V?= K9K:6g >J J= AG9J47 K?V= 9v]J 9G U9JV,q=
K9V9%6JE 7JAK 6pJ6p 9v]J K9V9%6J K=EJ U4K!V9O
AG9J47 ;'M=L U9J,q U;EJ4L J' K+ J JV'= '6p ;'M=L= BJ=
;'M=L K65qJ=. =J= 7= AG9J47 ;'M=L U9J,q BJ= KAJeb </?L#r
Alj9 A= JV== K6 * U7=. K=V9O
O 49,<'*m . ?0> F,<G!Y0 =4s<PO *r <2Aoo
A= J= AG9J47
;'M=L U9JV,q= KAJeb 7=L{J K=EJ U4K!V9 9G BJ 7JK= K/6 ;JVA= ;V5p
/F /qS 7VEJ'6LE K9V9K%/ =R7 AGV?J56AB BJ A= J=L U"V'V* 7J76 J=J
7 J? K=V9O
7 5J=J
= 5L6 7 JK?/ y=R7 AGV?J56AB AG9J47
99
;'M=L U9JV,q= KAJeb y 7J7V6 K>K!/ /JK=! B V/ 39J

y=R7 U J6 /JK=! 6J 3JK V> BJ 7 JV?= /JK=! B V/ J<q =
B V9O
O 49,<'*m . ?0> F,<G!Y0 PO,Y$>Y . ?0> =)(Y<0G#0 `.$<Aoo
AG9J47 ;'M=L U9J,q U J6 U{V 7VEJ'6 ;V6 K=V> A= J=L U"V'V* 7J76
J=J eb9q/Lq ;'M=L= BJ= K65qJ=. K=V/ 7JK=V9O
y=R7 U J6 eb9q/Lq ;'M=L= BJ= AG9J47 7K/JV6= A >
;JK>V = '6p 9?p 7J>6LE B V9 9G 7V/p AG9J47 ?rK;
6Mp6 y=R7 eb9q/Lq BJV= ;'M=L 7J 9J= K5 J=L B V96O
y=R7 U J6 eb9q/Lq ;'M=L= BJ= 5J=J
= 5L6
AG9J47 ;'M=L U9JV,q= KAJeb J<q = 6J B EJ 7<qeb 9>9F
3JK V9O
O 2Z. <'<1G$ '0 <\OAoo U< U{V 5J=J
= 5L6 7 JK?/
AGV?J56AB AG9J47 ;'M=L U9JV,q= U J6 KAJVeb= J=V. U J6 AG9J47 9J
AG9J47 7K/JV6= U?r.L K96pJA 9J 7M6K9q6pJA AlV q U J6 K9V=J5 U4!J U4E UA
U{V y=R7 KAJVeb= J=J AG{N U J6 9pKy K9V=J5K* K6uK= '6p ?r;
J4J>V/ 4=!Jvb K=V/ 7JK=V96O
O =).R$. . ?0> *rG$X .<=1G 0 *0 ,2X *<1)>7Aoo 5J=J
=
5L6 U#JK@/ 39J 5J=J
= 5L6 7 JK?/ ;'M=L= K6;g/; BJ= AGK?
A > ;JK>V = 7= 9?p 7J>6LE B V9 9G 7V/p ?rK; y=R7 U#JK@/ 9J
7 JK?/ ;'M=L= 6Mp6 BJV= ;'M=L 7J V/ K5 J=L B V96O
O =).R$. . ?0> 5<G00 . 5<G0 . ?0> *r'<) =)=3sAoo
U J6 ;JK>
U J6 ?rK; V
5pJVE= 5L6 U#JK@/ 9J 7 JK?/ K6;g/; BJV== ; BJV=
U J6 ;'M=L 74J6 K=V/ 7JK=V96 6JO
7 5J=J
= U J6 K &M U J6:JV9 U J6 ?rK;V =
5pJVE=
5L6 U#JK@/ 9J 7 JK?/ K6;g/; BJV== K5 BJV= ;'M=L 39J
6p U J6 AMV<J" AMK95J 9pJB/:JV9 7J 9J= K5 J= {N6g K=V9
6J <K4 U J6 %NKy 9J U=JVE4JV4= 5L6 9J 6p U J6 J=V. K/K6
y=R7 K5 BJV= ;'M=L 7J 9J= 39J U J6 73J 6M<JEL y=R7
AMV<J" AMK95J 7J 9J= K5 J=L B6O
50
100
t<'2 (X<7
'? Y )< =)$ <0G#
A= J= A= J=L U"V'V* 7J76 J=J /T/LE /8KAV> K>K!/

%J N=L= AKB/ 6p U J6 7 JV== %J M=L U<J" K=V/ 7JK=V9 9G
=R7 U{V y %J N=L AlK q/ K9V?@ U7?J'K6/ 9pJK5 K B V9
/JBJ AMK6K4q:JV9 V>! K=V9 9G /F7= 7 5J=J
=
K95J6 =R7:JV9 7V<J'p B V9 U<6
5pJE J=J y 9pJK5 y
%J N=L AlV q K9V?@ U7?J 'K6/ 9pJK5 9K>EJ U#JK@/ B EJV&O
7 5J=J
9G
= U{ 9p/L/ 6p U{V U J6 9pJK5
AlV q U J6 ?rK; V U J6 {K/7P=. 7V4E B V9 6J <K4 6J y
9pJK5 7/p{:JV9 AGK? ?rK;V = %J N=L %>J JV> BJ B V/ djP/
U J6 4M#q*6JE '!V;= J=V. BEO
G.0 )X `=$*B0#
O `=$*B0# *r'<G)0 )X .<=1G 0 '<=7$SAoo

%J N=L %>J JV> BJ
B V/ djP/ 4M#q*6J= 8V> <K4 U J6 ?rK; ?=LV= '!;7J B6 /JBJ B V> ;JK>
/JBJV
5pJVE= K95J6 6M<JEL {K/7P=. K4V/ 9J5p 3JK V96O
U J6 ;JK> y=R7 {K/7P=. 74JV6 9J5p 3JK V96 6J <K4
'!V;= 8V> K/6 K4V6= K5 A;E U J6 ?rK; AlP.q 9J GK?
;q{;/J 6J BJ=J6
! '!V;= 8V> ;J=J <J6 6J =R7 U J6 ?rK;V = 4M#q*6JE '!; 7J
B EJ= 7/p{ J=. K&>
4M#q*6J= A;E ?rK;V = ;4p7J6 9J ;J4 4r9p UA9V6= 8V>
BJ= 7:J9J5L6 3J J
?rK; "V.= K6=J7J K6K/ =J= '6p 7.L/ K9K5 9J AMu
JV4? ?rK; /qS _&J T/:JV9 ;J6p =J
?rK; "V.= K6=J7J K6K/ =J= '6p 9p9v]J =J B EJV& BJ
'J6J AVi ?rK; /qS _&J T/:JV9 U J6 J#J/ K6V=J5
K6=J7J A=J; 9J 6p U J6 U Y?> 7AJ=. =J 9J V7{J
=JO
<K4
/T/LE /8KAV>= GV? 9K.q/ U J6 %J N=LV/ K6<My U J6 ?rK;
BJV/ y=R7 %J N=L AlK q/ K9V?@ U7?J'K6/ 9pJK5 9K>EJ
K>K!/ U J6 9pJK5V/ JzJeb B6 39J
! U J6 ?rK; K9K_&6g:JV9 U J6 ;JK>V = 5L6 6Mp6 &E ;JA /T/LE
/8KAV>= ! !V 9K.q/ U J6 %J N=LV/ K6<My 3J J JV> y
/8KAV> y=R7 %J N=L AlV q K9V?@ U7?J'K6/ 9pJK5 9K>EJ
K>K!/ U J6 9pJK5V/ JzJeb B6 /JBJ B V> y=R7 9pJK5V/
JzJeb B EJ
5J=J= 5L6 U J6 4M#q*6J= 8V> '!; 9K>EJ ".p
B V9 9G <K4 6J ;JK> BJ= K97=L/ K &M 7;J. V=6 4M#q*6JK*
%J N=L %>J JV> BJ B V/ djP/ 9K>EJ ".p B V9O
,X< X<Aoo
7 5J=J= 7VEJ'V6 U J6 %J N=L J> K9K_&6g
9K>EJ ".p B V9 <K4 BJ= AKB/ 6p U J6 ;JK>V = 5L6
7 J= U J6 %J N=L <My 6J 3JV O
101
!JV6 K>K!/ U J6 K &M U J6 ?rK;V = '!; AlV q U J6

{K/7P=. 7J EJ= K5 J= 74J6 =J B EJV& 9K>EJ 9M(J V9 6J <K4
K/K6 ;JK>V = 39J 6p U J6 9pKy= K9=^V y '!V;=
{K/7P=V.= '6p U4 EJ6L J4J>V/ U J6 U;J ;J 4JVE= K=EJ
3JV 6O
U J6 J4J>V/ y '!; AlV q ?rK;
/qS U J6 {K/7P=.
;J;>J 4JVE= =J <J V9 6J <K4
K/K6 ?r; J4J>V/ y '!V;= '6p {K/7P=V.= 4J9L K=EJ 4=!Jvb
U7? K=EJ 3JV 6 39J
! /JBJ= 9G /JBJ= ;JK>V = ;V5p
5pJVE= K95J6 6M<JEL y
'!; AlV q {K/7P=. 74JV6= '6p U J6 %NKy B EJ 3JV O
5pJVE= VV?p ?rK; 9K>V/ ;JK> /qS A=JAK= 39J
K+ J4J= /qS K6<My ;6 9pKyV 9M(J V9 K<K6
U=> VE J 6
AV6= 6G J 6 = 5J=J
=
AGJ 6M<JEL
'6 U=> ;q%J=L K<K6 U=> VE= U J6
7?JAK6 U'>J 9J 7 V'>J K8VA U J6 v]JEL 7V4 K6<My 6VB6
9G %/N3q /8KAV> K>K!/ U J6 7V4 K6<My 6VB6 39J
! %/N3q /8KAV> K>K!/ U J6 7V4 K6<My U J6 9pKy
/JBJ= %J N=L= %NKy K>K!/ B 9J K>K!/ B
v B 9J
v B
9G U J6 '!; 7J ?rK;V = V>V!= U{V K/K6
;J=J U"V> /JBJ= 7= K6:q=?L> 9pKy". 39J /JBJV4= UEJ ".p B V9O
O `=$*B0G#0 *=0.<#Aoo
5pJVE= K95J6 AJV7V{ {K/7P=V.=
7K=;J. B V9 K6;g=R7 <3JH
U< U{V '!V;= 8V> ;S/Mp BE UA U{V AGK? ?rK; K* 7;
/8KAV>= K/LE >JV; U< 3q V>! =J B EJV& UA 3q
! U< U{V '!V;= 8V> vJ]EL AlP.q {;/J #V* UA U{V
<K4 AGK? ?rK; K* 7J 9EvZ B6 /JBJ B V> 7;
/8KAV>= /T/LE >JV; U< 3q V>! =J B EJV& UA 3q
9G
<K4 AGK? ?rK; K* 7J9EvZ B6 /JBJ B V> 4? BJ'J=
*J J
" U< U{V '!V;= 8V> v]JEL JGK? {;/J #V* UA U{V
'!;K* 73; /8KAV> 9K.q/ B V> v]JEL AlP.q {;/J=
U{V 7V4E {K/7P=. =
?/ =J BJ= <JBJ BJV/
K>K!/ y '!V;= J=V. 7J'q6 {;/J BJK6= ?/ =J
BJV== A;J6
'!;K* 73; /8KAV> 9K.q/ 6J B V> v]JEL AlP.q {;/J=
U{V 7V4E {K/7P=V.= ?/ =J BJ= <JBJ y '!V;=
J=V. v]JEL:JV9 7J'q6 {;/J BJK6= 6M7JV/= A;J6 9G
# U< U{V '!V;= 8V> AlP.q 9J JGK?
v]JEL {;/J #V* UA
U{V ;JKA {K/7P=. <JBJ {;/J= /JK=! B V/ %J= K46
V7{J J> K/9JKB/ B 9J= 7= U< ;JVA 7V4E B V9 BJ=
7=9/Lq ;JVA= 73; K4V6 7V4E B V9 9G /F7= {;/J= A;E
JV> 39J 7; /8KAV>= U?@ >JV; K>K!/ A;VE= '6p
<JBJ v2 B V9 ;JKA K:KV/ 7V4E B V9O
U< U{V
4M#q*6J= J=V. JK5 '!; BE UA U{V 7
5J=J
" = 5L6 /FAlV q 7V4E {K/7P=.
K/ =J
B V9 K e\ U J6 U{V BJ ;6 :JV9 =J B V9 6J <JBJV/ BJ
'!; }K> B V/ v]JEL AlP.q {;/J #K*V> U< {K/7P=. 7V4E
B / BJ B V/ U9?L BEO
103
U J6 ;JKA {K/7P=. 7V4E B EJ= /JK=V!= 7PV9q <K4 {;/J=

9AJ6 BE /JBJ B V> y ;JA AlV q 7V4E {K/7P=V.= 3q y
;JVA= {;/J 3J J J>L6 A;VE= J6M7JK/ BJV= 7V4E B V9O
O . ?0> =54<G,0 *s=$Aoo
5pJVE= 7VEJ'V6 ;JKA ;'M=L
9K>V/
;JVA= JV'= '6p 7V4E 9K>EJ ".p ;'M=L= 7K=;J. 9M(J V9 BJ
;JKA K:KV/ 7V4E B
39J 6p A;VE= K:KV/ 7V4E B
39J K+ J
BJV= B O
y=R7 ;'M=L K6;g=R7 :JV9 KBAJ9 =J B V9 <3JH
U< U{V 4M#q*6J= 9p9KB/ 7PV9q {K/7P=. 74JV6 9J5p U J6
;JK>V = 5L6 AGK? ?rK; K* K9K_&6g:JV9 6Mp6 9JV=J ;JA
;q=/ K&V>6 UA U{V /JBJ= ;JKA ;'M=L B V9 /JBJ= 7P9q9/Lq
9JV=J ;JVA y ;JK> /qS 7V4E U;J* ;'M=L=
J4?JG?
! U< U{V AGK? ?rK; K* y=R7 ;JK>V = 5L6 4M#q*6J=
9p9KB/ 7PV9q K9K_&6g:JV9
;JVA= ; A;E ;q=/ K&V>6 UA
U{V /JBJ= ;JKA ;'M=L B V9 4M#q*6J= 9p9KB/ 7P9q9/Lq 9JV=J
;JA A;VE
;JK>V = 5L6 /JBJ= ;/ 6M=R7 JV' K6VEJK'/
6p U J6 ?rK;
39J y=R7 6p U J6 ?rK; 6J 3JK V>
>J JE 6M=R7 JV' K6VEJK'/ 6p U J6 ?rK;V = K'q/ JVE=
;JKA "VC= A;J6 3q
" 6pJ6p U{V ;JKA ;'M=L B V9
{K/7P=. 74JV6 9J5p ;JK> B V/ 4M#q*6J= 9p9KB/ 7PV9q
K9K%&6g:JV9 ;q=/ 3J J J>L6 A;VE AGK? ?rK; /Tq K'q/
U;J* ;'M=LV K? }. K=EJ y ;q=/ A;VE= U;J* K46}K>=
J=J BJV :J" K=V> U< :J"8> 7J EJ <JE BJ= A;7K=;J.
3qO
,X< X<Ao
5J=J= 7VEJ'V6 U J6 ;q=/ A;E K9K_&6g 9K>EJ
".p B V9 <K4 U%Y K4V6= K5
J> JV' 6M7Kv]K/= J=V.
BJ= 5J=J9JKB /J : 6J BEO
O *B)=,YG, )<Aoo
5pJVE= 5L6 7V4E U J6 ;JKA {K/7P=.
BJ 7{ VE= ;V5p %NKy= 5L6 B
39J ?r; J4J>V/= JV4V?= 5L6 B
?r; J4J>/ /qS 7P6K9qV9%6J =J <J V9 <K4
?rK;V = 9v]J= 7K=9/q6 B EJV&
;V;q U=K'J,q K%K FA
/Tq 7r4 7/pE67AB ;JK>
39J ?rK;
/Tq 4=!Jvb =J
52
104
BE 39J
y=R7 7/pE67 &JCJ 7/J=.J= ;J5pV; 39J X95 7:J9
39J 6pJ6p AG"/ 7JVE= ;J5pV; {K/7P=. K65qJ=. =J
B EJV& 39J U= ,q B V/ AMv U4!J <JE U< y=R7 K65qJ=.
:M>
;V;q ;JK> 39J ?rK; /qS 4=!Jvb =J BEO
5pJVE= K95J6 AJV7V{
5J=J= 5L6 7M6K9qV9%6J= K:KV/
U J6 ;JKA {K/7P=6 %J>M =J!J <J V9 9SK =J <J V9 ;JV6J
<J V9 39J 9 =J <J V9 39J <K4 U4!J <JE U< 4M#q*6J=
J=V. v]JEL {;/J #K*EJV& /JBJ B V> 7V4E ;JKA {K/7P=.
?rK;V = 7J7p/J 6M<JEL U3J V3q =R7JebK=/ =J <J V9 /V9 BJ
B V/ ;JKA {K/7P=. 9J94 K/;V5p 7J 3q 9J4 <J V9O
O .<=4 `=$*B0# F&< &Y t<0< *=0G2<(Aoo
:E 7V{= %NKy=
K:KV/ ;JK> U3J 3q 74J6 K=EJ ?rK; V 7V4E ;JKA {K/7P=. 7K=V?J5
K=V/ 7JK=V96O
<K4 y=R7 U J6 %NKy 6J BE 9G 6Mp6 &E ;JA U J6 ;JKA
{K/7P=. 74J6 9>9F 3JV /JBJ B V> U/ /qS K65qJK=/ U3J
3q 74J6 K=EJ
;JKA {K/7P=. 7K=V?J5 =J <J V9O
O `=$*B0# ,Q )Aoo
'!V;= 8V> ;S/ U J6 ?rK; AlV q 7V4E
U J6 {K/7P=. 9G J 6"/ {;/J= 5L6 U J6 9pKyV {K/7P=. 9J94
7V4E U3J 3q ?r; J4J>V/ ';J U4 EJ 9p/L/ K:6g U J6 7e]JE 7K=V?J5 =J
<J V9 6JO
7 5J=J
K>K!/ U J6 {K/7P=. <K4 ;JK> A=JAK=:JV9
7K=V?J5 K=EJ 3JV 6 /JBJ B V> BJ {K/7M=. 7K=V?J5 9K>EJ
".p B V9 6J <K4 6J AGK? ?rK; /JBJ= %J N=L JV> K9K5J=J
K65qJK=/ 7e]JE '!;'K6/ J=V. /JBJ= ;S/Np= U{V {K/7P=.
"BV.= '6p /JBJ= U J6 =JK5 J=LV ;V6J6L/ K=EJ 3JV 6
9G UA ;V6J6L/ =JK5 J=LV {K/7P=. 74 B EJ 3JV O
7 5J=J
<JBJ 3J N 6J U 6 U J6 ;S/ ?rK;V = U{V
/JBJ= U J6 U7J@pV ;JK> {K/7P=. 9J94 K"; 3q 74J6
K=V/ 7K=V96 9G ?r; J4J>/ y U7J@pV 7V4E {K/7P=.
B V/ y K"; /q6 K=EJ BJ ;JK> V U8=/ K4V9O
{K/7P=. 9J94 7V4E 6p U J6 3q BJ 7J EJ= K5 J=L 9pKy=
7V{ ?r; J4J>V/ ';J =J <J V9O

?r; J4J>/ /qS 74 =K?4 BJV/ ';J T/ {K/7P=. AlV q
<V3 4JE ;MKy B V9O
7 5J=J
= 5L6 U J6 ;S/ ?rK; AlV q {K/7P=. 9J94
U J6 3q ';J B V> ?r; J4J>/ 7VEJ'6V9JV5 /F /Tq K9V9K%/
7<My 7e]JE U6JK*? 7 J? K=EJ 39J 7V/p U7JV@p= 7=
BJ 'J=L K=EJ {K/7P=. 9f*6 K65Jq=V.= '6p /F /qS K65qJK=/
/JK=V! BJ= AloMV! BJK'= B EJ= '6p /JBJK4"V K6V4q? K4V/
7JK=V9O
<K4 ?r; J4J>/ /F /qS 7VEJ'6LE U J6 /4eb A;J76JVeb
;V;q AeMb BE U J4J>/
';J= /JK=! B V/ 6Mp6 4M 9FA= 7= BJ= K6 * ';J 9Kf*/
3q ?rK; "V.= >pJV.= '6p A= J= /qS A= J=L U"V'V*
7J76 J=J K6K4q 39J v]JK7/ U J6 /BK9V> BvbJeb= K=V9O
;JK> 4=!Jvb K=V> ?r; J4J>/ /F /Tq 9f*6 T/ V3q= K*
K9vbJK=/ 9.q6J /JBJV A=9=JB K=V9O
U J6 ;S/ ?rK; AlV q ';J T/ {K/7P=. 7 5J=J
= 5L6
/q6 AJV7V{ ;S/ ?rK;V = U7J@p"V.= ;V5p 39J /JBJV4=
JBJ= ;V5p ;6 6M7JV/ 9f*6 =J B V9 <JBJ ?r; J4J>/
7<My K9V9%6J K=V9 39J J4J>/ K6' K9V9%6JE UV/ ';J T/ U J6 {K/7P=. U J6 9pKyV 7V4E
BE UA U{V ?r; J4J>/ U< 9pKyV BJ 7V4E K/K6 <K4 U J6
J 6"/ {;/J= 5L6 6J B6 /JBJ B V> /JBJV 74J6 K=V9
9G 6pJ6p U{V K<K6 BJ 7J EJ= K5 J=L /JBJV 74J6
K=V/ 7JK=V9O
U< U{V J4J>V/ ';J T/ U J6 U3J
3q J 6"/ {;/J=
5L6 U J6 9pKyV 7V4E BE UA U{V y 3q y 9pKy=
7 J=JV3q /JBJ= {;/J J>L6 A;VE ?r; J4J>V/= K6V4q?
U;J/JV9 K9K6VEJ" 9J 9p9BJ= =J <J V9O
U< U{V J 6"/ {;/J= 5L6 U J6 9pKyV
5q ;JKA
{K/7P=. 7V4E BE UA U{V J4J>/ v2 _&JE 39J U J6
4=!JVvb= 7K=V7K{V/ y {K/7P=. /JBJ= {;/J J>L6 A;VE
105
53
106
AGK? ?rK;V = U J6 U7J@pV

39J J4J>V/= K9V9%6JE y
?rK;V = >pJ. 9p9v]J =J= '6p A9V%VE 7<My 9K>EJ K9V9K%/
6p U J6 9pKyV 74J6 =J= '6p JV4? K4V/ 7JK=V9O
U< U{V U J6 4=!JVvb= 7K=V7K{V/ 39J 6p:JV9 ?r; J4J>/
;V;q AeMb BE UJ= J=V. 39J U J6 U7JV@p= 7K=Kv]K/= 7K=9/qV6=
J=V. 39J 6p U J6 7<Jq J=V. {K/7P=. KBAJV9 7K=V?JK5/
U J6 3q 9f*6 AlV q ?r; J4J>V/= U J6 JV4? 39J y=R7
U J6 U7J@pV 7V4E {K/7P=V.= K9K6VEJ" 9J 9p9BJ= AlK q/
BJ= U J6 JV4? 7K=9/q6 =J K%/ /JBJ B V> J4J>/ BJ=
y JV4? 7K=9/q6 =J= '6p 9v]J= 7K=V7K{V/ U<=R7 6P/6
JV4? U4 EJ 7VEJ'6 UA=R7 JV4? K4V/ 7K=V9H
/V9 ?/q 3JV U< <K4 y=R7 U J6 JV4? U J6 9pKy= '6p
BJK6 = BE /JBJ B V> /JBJV
y JV4V?= K9=^V J=.
4?JqV6J= AMV<J" 6J K4EJ 39J U J6 U{V <K4 y JV4V?= 8V>
U J6 U7J@p /Tq /JBJV 7K=V?JK5/ U J6 {K/7P=. U8=/
U4 EJ= 7VEJ'6 BE /JBJ B V> y=R7 U J6 JV4? 74J6 =J
<J V9 6JO
U< U{V ?r; J4J>/ 7 5J=J
= 5L6 U J6 JV4?
J=V. 7K=9/q6 V= U
K=EJV&6 UA U{V y 7K=V?JK5/ {K/7P=. /JBJ= K6 * B V/
5J=J
= K95J6 6M<JEL @M> =J <J V9O
O `=$*B0G#0 5\O<PO0 F_< ,< '<7,s 0# =)=3sAoo
5pJVE U<
= ; K95J6 JV& UA = ; 9p/L/
5pJVE= 5L6 7V4E U J6 U3J
39J
;JKA {K/7P=. U J6:JV9 BvbJeb= UzJ
39J 4JE9 =J <J V9 6J 39J
U J6 J V6= 7VEJ" J=J ?rK; 9p/L/ 6p U J6 9pKy= K6 * BvbJeb= =J <J V9
6J 39J BJ= AKB/ 6p U J6 4J9L J*J JK* =J <J V9 6JO
O F)<= 2 '<,>Aoo
U J6 ?r; J4J>/ {K/7P=V.= U J6 4J9L
K9V9%6JE JK6V9 6J <K4 6J 4M#q*6J #K*9J= 7= </?L# Alj9 /4K6V;g 9K.q/
7K/V/ /FAlV q U6JK*? 74J6 =J BE 9G <K4 6J 4M#q*6J #K*9J= 4M 9FAV==
;V5p 39J ;S/Mp= U{V BJ= 4M 9FAV== ;V5p 4J9L J76 =J BEO
U< U{V 4M#q*6JK* B V/V& 5J=J
= K95J6 7V<J'p BE
107
;6 U J6 U=JV"= Jz;. UA U{V 4M#q*6JK* y U=J" J=J

{;/J= J=V. ?rK;V = K9K_&6g 6M7Kv]K/= 73; /JK=V!
#K*EJV& 9K>EJ ".p B V9O
U J6 U6JK*V?= U J6 ^K* 9J K6E; 39J BJ 74J6 6J =J=
J=V. U J6 4J9L K9V9%6J= V<J"p B V9 6J
<K4 JK7/ 4J9L ;6 U J6 4M#q*6J= 8V> ?rK;V = ;S/Mp'K6/
J=V. BE U< 4M#q*6JK*
;JK>V = 9JCL#= 9J JGK"6JE #V* 9J
;6 U J6 'JE"JE #V* U<!JV6 ?rK; ;JK> 9J /F /qS
K6VEJK'/ 6p 9pKy= K6EeV. J' K=V/ K&V>6 9G
?rK; K* y 9JCL#= 9J JL6JE 9J v]JV6 ;J=J <J6 39J y
9JCL#= 9J JGK"6J 9J v]JV6= AK6gKB/ >J J /pJV"= 7PV9q
;J=J <J6 39J
! <K4 ;JK> 39J '!;7J ?rK; K* ;JK>V = U< 9p9AJ 9J 9JK.V'p
K6VEJK'/ K&V>6 BJ= 9p9v]J76J= '6p ;JK>V = K6 * 4JEL U J6
9pKy 6p U J6 AP B V/ 4M#q*6JK* #K*9J= A;VE 39J BJ=
J&J JK& A;VE /FAlV q 9KB/ B EJK&V>6O
7V=Jy 7 5J=J 6M<JEL <3JA;VE U J6 U6JK*? 74J6 39J 4J9L
J76 6J =J AVi ?r; J4J>/ {K/7P=V.= U J6 4J9L
K9V9%6JE JK6V/ 9G /FAlV q KAJeb K4V/ 7JK=V9 <K4 BJ
;
V
;
q
AebM BE U< U6JK*? 74J6 6J =J= 9J 4J9L J76 6J =J= <V3
J=. K&>O
y=R7 7V/p U6JK*V? '!;7J 9pKy= 6J; 9G K+ J6J U4 EJ
B V9 9G AB' :J@JE '!V;= J=. 4M#q*6J= /JK=! 9.q6J =J
B V9 9G BJ ;JK>V = 7= 39J '!;7J ?rK; K* ;JK>V =
U< 9p9AJ 9JK.V'p K6VEJK'/ K&V>6 BJ= 9p9v]J76J= '6p ;JK>V =
K6 * 4JEL U J6 9pKy= 7= 'J=L =J B V9O
5J=J= 5L6 U J6 U6JK*? <JBJ= 7= BJ 'J=L K=V/ B V9
/JBJ= 9JAJE 39J K8VA 39J 9p9AJ= v]JV6 BvbJeb= K=EJ 39J
U=K'Krr ,J V<JV" U7=. K=EJ 'J=L =J B V9 39J U< U{V
U J6 U6JK*? 9 AG=K{/ BE UAV{V y 9 VE K>K79 K=EJ
'J=L =J <J V9O
54
108
O .<0<$V '? Y )< 4UG Y .<=1G 0 =)

5 G$ =,,D=$ $1G,0
`.$<Aoo U< U{V U J6 ?r; J4J>/ U J6 AP B V/
!9= 7JE UJ JV> BJ B V/ djM/ U J6 4M#q*6J= J=V. ;J=J K"EJV&6
UA U{V J4J>/ U=K'Kr ,J V<JV" U7K=/ U6JK*? J=J AGK? ?rK;V =
;JK> V U6JK*? 'J=L= K? K4V6= ;V5p K9K5 J=J K65qJK=/ 8=V; BJ= K6 *
K* K99SK/ U7? K=9J= '6p K6V4q? K4V9 <JBJV/ ?rK;V = ;S/Mp= J=.
/FAlK q/ 7K=Kv]K/ 9G ;JK>V = ;V/ y ;S/Mp= J=V. K/K6 U J6 {K/7P=.
';J K4V/ 9J5p K 6J /FAlV q 9.q6J 3JK V9O
<K4 ;JK>
;/ U7J@. V=6 U< K/K6 {K/7P=. ';J K4V/ 9J5p
/JBJ B V> U6JK*? 'J=L= K? K4V6= ;V5p K/K6 /JBJ ';J K4V96O
<K4 ;JK>
;/ U7J@. V=6 U< K/K6 U J6 {K/7P=. 74JV6
9J5p 6VB6 /JBJ B V> K/K6 /JBJ= K99SK/V/ BJ= J=. V>!
K=V96O
U< U{V ;JK>
y=R7:JV9 /JBJ= 4JKE/i v2L J= V=6 UA
U{V ?r; J4J>/ BJ= K9V9%6JE 7VEJ'6LE /4Veb= 7= ;S/
?rK;V = U/ BJ= K9V9%6JE 7VEJ'6LE 6p
U J6 /3p /JBJK4"V K4V/ 7JK=V9O
O .<0<$V '? Y )<0 =0G*< YAoo U< U{V J7J//H 9>9F U J6 J V6=
J=J U J6 ;JK>V = 9JCL#= 9J JGK"6JE #K*/ U J6 4M#q*6JE ;S/Mp AlV q U J6
/qS7{V U6JK*? U4 EJ 7VEJ'6 UA U{V ;JK> 39J /JBJ= 7V{ 6p U B
y=R7 ;S/Mp= AJ/ K4V6= ;V5p ;S/Np= J=. 7JK=7JK?nq 9v]J 9.q6J K=EJ ?r;
J4J>V/ K* K=V7J*q U7=. K=V96O
O = = 84< *0>`<Aoo
U< U{V U J6 ?rK; U J6 4M#q*6J= U6JK*?
74J6 V=6 UA U{V ;JK> U6JK*? 'J=L= K/6 K4V6= ;V5p K96J !=V% U J6
U=K'J,q K%K FA J=J ?rK; V 7=L{J =J V96 9G y ?rK;
y=R7
7=L{J= '6p K6V'V BJK'= K=V96H
/V9 ?/q 3JV U< ?rK;V = 4M#q*6J 9J AMv]/J }=^/= B V> ?rK; U<!JV6
9v]J6 K=V/V&6 ;JK> UA!JV6 /JBJV 7=L{J =J 9J= 9p9v]J K=V96O
5pJVE= 5L6 U J6 ?rK; ;JKA {K/7P=. 7J V/ 3JK V>
<K4 K/K6 K6V4qK?/ B6 /JBJ B V> A;E A;E y=R7 7=L{J= '6p
K6V'V BJK'= K=V96O
U< U{V K96J !=V% U J6 ?rK; V y=R7 U J6 7=L{J 6J =J BE
109
UA U{V K/K6 K6' V4pJV" U J6 U=K'J,q K%K FA J=J

7=LK{/ B V/ 7JK=V96 9G /FAlK q/ !=% ;JK> /JBJV
7K=V?J5 K=V/ 9J5p 3JK V96O
5pJVE= 5L6 7.L/ K9K5 U;J/JV9 9p/L/ 39J K9K5 J=J
K65qJK=/ K46 9p/L/ 7 5J=J
39J
= 5L6 U J6
K%K FAJ 7=L{J= '6p U J6 ?rK; V BJK'= B EJ= K6V4q? U4 EJ
<J V9 6JO
<K4 U J6 ?rK; 7 5J=J
39J
= 5L6 ;JK> /qS
K6V4qK?/ 39J ?r; J4J>/ /qS U J6 A;VE K6V4qK?/ B EJ
AVi K%K FAJ 7=L{J= '6p K/K6 U J6 U=K'J,q K%K FAV =
K6 * K6V'V BJK'= K=V/ v2L J= V=6 39J 6p U J6:JV9
BJV/ 9J5J 74J6 V=6 /JBJ B V> y v2L TK/ 9J 9J5J
U4 EJ JV> /JBJ= {K/7P=. 7J EJ= K5 J= AJ;KE :JV9 v]K"/
3JK V9 <K4 6J v2L TK/= U{V K6V'V
y=R7 BJK'= =J=
9pJ7JV= K/K6 7<qJ J=. J=J 9J5J7J B EJ 3JV 6O
<K4 U J6 ?rK; 7 5J=J
39J
= 5L6 U< K65qJK=/
A;VE= ;V5p K%K FAJ 7=L{J= '6p /JBJV BJK'= B EJ= 3J
A;E K/zJeb B 9J= 7PV9q v2 _&JE y=R7:JV9 7=LK{/ 6J B EJ
/JBJ= ;qv]V>= >J J /pJ" K=EJ %K>EJ <J6 /JBJ B V> K/K6
K8K=EJ 6J JAJ 7<qeb 39J K6V'V y=R7 7=L{J= '6p BJK'= 6J
=J 7<qeb /JBJ= {K/7P=. 7J EJ= K5 J= AJ;KE :JV9 v]K"/
3JK V9O
7 5J=J
= 5L6 {K/7P=. 7J EJ= K5 J= v]K"/
B EJV& =R7 U J6 ?rK; <K4 y U J6 7 5J=J= 5L6 K6V4qK?/
U J6 K%K FAJ 7=L{J= '6p K6V'V BJK'= 6J =J JV> ;J=J <J6
/JBJ B V> ?r; J4J>/ 7<My ;V6 K=V> ;S/ ?rK;V =
U7J@p".V {K/7P=V.= 3q 7K=V?J5 K=9J= '6p K6V4q? K4V/
7JK=V9O
U< U{V 7 5J=J
39J
= 5L6 U J6 {K/7P=.
7J EJ= K5 J= v]K"/ BE UA U{V v]K"/ JV>= '6p U J6
{K/7P=. 7V4E B V9 6J 9G <K4 5J=J
!
K>K!/
V7{J J> 9AJ6 B 9J= 7PV9q y v]K"/ J> =^ BE /JBJ B V>
V7{J J> v]K"/ JV>= J=J 9SK7J B V9O
U< U{V ;JK>
/Tq U J6 U=K'J,q K%K FA J=J U J6
55
110
'!;7J ?rK;V = K96J !=V% K%K FAJ =J 9J= 7vbJ9 U4 EJ AVi

y ?rK; /JBJ "B. K=V/ v2L J= V=6 39J y=R7 7vbJ9
"BV.= 7= _&J T/:JV9 y K%K FAV = K6V4q? V7{J V=6
9G <K4 BJ 7;JK./ BE U< ?rK; K* BJ= 7= U J6 U=K'J,q
K%K FA J=J K6EK;/:JV9 K%K FAL/ B6 6J 39J K%K FAL/
B EJ JV> _&J T/:JV9 K%K FAV = K6V4q? 6MA=. K=V/ 9p3q
B EJV&6 9G y=R7 v2L SK/ 9VB>J 39J 9p3q/J 9v]J=
7K=V7K{V/ V<YKy K&> 9G BJ= 8V> '!V;= 96K/ #V*
UA U{V '!;K* 9G BJ B V/ v {;/J ?rK; K* U=K'J,q
K%K FA J=J K6EK;/:JV9 K%K FAL/ B EJ /JBJ= K6V4q?;/ %K>V>
U< 7 TK/= B / 9G U< A;E 7<qeb 3JK / BJ UA 7 SK/= 9G
UA A;E 7<qeb %K>V/V& 9K>EJ ".p B V9 9G U J6 {K/7P=.
7V4E B V> BJ /4J6M<JEL 74 B V9O
U< U{V U J6 ;JK>
39J '!;7J ?rK; U J6 U=K'J,q
K%K FA
/Tq 74 K%K FAJ 7=L{J= K=V7JV*q AebM 6J B6 UA
U{V K/K6 K9@EK* 7M6=JE 7=L{J =J= '6p U;K,V > V>V'=
6Mp6 ABV<J"L 5pJ7V = ;<Jq4J Al6g U J6 K%K FAJ K9V?@V=
K6 * U7=. K=V/ 7JK=V96 9G
7 J= 7=L{J= '6p U< !=%
B V9 BJ ;JK> 9J U{;/ ?rK; 9B6 K=V96O
O @=^0 F`Gm `=$*B0#Aoo
U< U{V U J6 ;JK> /JBJ= 9p9AJ 9J
9JK.'p %>J JV> 39J BJ= 7VEJ'V6 AJ5J=./H /JBJ= 9p9AJ 9JK.V'p= G?
=R7 U J6 J' 9J BJ= G? K9V?@ AlJ46 =J= '6p 6p U J6 9pKy=
/H7=
5J=JE K+ J4J= 9K>EJ K>K!/ AKB/ %NKy V=6 UA U{V y
;JK> U J6 ?rK; A=JAK= /JBJ= J=J K6<My B V> /JBJV U< {K/7P=. 74J6
K=V/ 9J5p 3JK V/6 y J<q AlJ4V6= '6p K+ J4J= /Tq K6<My ?rK; V
K/K6 6M=R7 {K/7P=. K4V/ 9J5p 3JK V96 9G U< U{V ;JK>V = K6 * B V/
U J6 {K/7P=. 4J9L =J BE UA U{V {K/7P=. K6.qVE= '6p K+ J4JV== K6 *
B V/ 7J ;'M=L J;V> J6J B V9O
U< U{V U J6 ;JK>
5J=J= 5L6 U J6 {K/7P=. K4V/ 9J5p
B6 UA U{V ?rK; <K4 K+ J4JV== 9J 6p U J6 9pKy= K6 *
B V/ y {K/7P=. J4JE K=V/ 7JK=V/6 /JBJ B V> y ;JK>
K+ J4J= 9J y 9pKy= K6 * B V/ BJ= '6p {K/7M=. 7J V/
K5 J=L B V96 9G U<V{V K+ J4J= K6V'
'6 ;JK> 9G
111
{K/7P=. K4V/ 9J5p 39J

5J=J= 5L6 y ;JK> V {K/7P=.
K=V/ 9J5p UA U{V /JBJ= AKB/ %NKy9 U J6 K+ J4JV== K6 *
B V/ U J6 ?rK; <K4 {K/7M=. J4JE K=V/ 7JK=V/6 /JBJ
B V> K/K6 y K+ J4JV== K6 * B V/ BJ= '6p {K/7P=. 7J V/
K5 J=L B V96 9G y=R7 K5 J=
{K/7P=V.= 7K=;J.
Al2V A > 7?g %NKy= 9/q;JV6 ?r; J4J>/ /qS K6uK
B V9O
5J=J= U J6 K &M U J6 ?rK;
/qS ;JK>V = 7K=9V/q
K+ J4JV== K6 * B V/ {K/7P=. J4JE =J K69S K=V/V& 9K>EJ
9M(J V9 6JO
;JK>V = J' B V/V& 9J A%=J%= BE 39J ;JK>V = K6EeV. 9J
9p9v]J76JE JV& =R7 U J6 v]J6 9p/L/ 6p U J3J U J6 4M#q*6J
#K*V> UA U{V
5J=J 7V<J'p B V9 6JO
O .<=1G 0 F' =17<$SAoo U< U{V U J6 ;JK>
5pJVE= 5L6
?rK; "V.= 7K/ U J6 4JE AlV q U J6 9L;J J=L= AKB/ %NKy9 B6 UA U{V
;JK> U4 K>EJ B V> 39J 7J 6J4JV== AKB/ U J6 9p9v]J AlV q vZL; 7.E6
K=V> 39J ;JK> <K4 U J6 U JlJ6L BE 9G BJ <K4 }*J EJ U8>J =^ V=
/JBJ B V> y 4JE AlV q 9L;J J=L= K9=^V ;JK>V = K5 J= 6p U J6
J V6 U4 K>EJ/i 39J U JlJ6L }*J EJ U8>J AlV q <JBJ K &M 3J N 6J U 6
?rK;V = K6 * BvbJebK=/ 6pvb B V9 9G y=R7 BvbJebV== 7= 9L;J J=L=
=R7 K5 J= 9G 7K/ JV== 7JE 3JK V9 9G K/K6 ;6 4JE 4JKEV/i= 5L6
3JK V96 U<6 K/K6 ;JK> /V9 ?rK; "V.= 7K/ ;JK>V = U< 4JE BJ B V/
?rK;V = 7K/ 9L;J J=L= 4JE K5 B V9 6JO
<K4 ?rK;V = 7K/ 9L;J J=L= 4JE ;JK>V = 4JE B V/ ; BE /JBJ
B V> U4 K>EJ/i 39J 9AJE6 J<qzV; ?rK; BJ 7;J. K=V/
7JK=V96O
U< U{V 7 5J=J
K>K!/ U J6 U{V 9L;J J=L= AKB/
;JK>V = %MKy
J=V. X95 9J X95 B 9J= U<J"p U< ;JK>
K7K;EJ; J4JVE= K9@E 9p/L/ 6p U J6 K9@VE %NKy= U J6 ?/q
7J>6 V=6 6J UA U{V y 7 5J=J= K95J6 =R7:JV9
7V<J'p B V9 U<6 %NKyK* X95 9J X95V<J"p K&> 6J 9G
9L;J J=L U4 K>EJ/i 9J 9AJE6 J<qzV; ?rK; V 74 3q 7;J.
=J= K5 J=L B V96H
56
112
/V9 ?/q 3JV U<

7 5J=J= K95J6}K> =R7 U J6 U{V
7V<J'p B V9 6J U<!JV6 ?rK; 4M#q*6J AlV q 9G BJ= 8V>
U J6 {;/J AlV q U4 K>EJ/i 9J 9AJE6 J<qz; =^ B EJ
AlV q K/K6 J/ B EJ= </4P= Alj9 7V= 9L;J J=LV U6JK*?
K4V/ 9p3q B EJV&6O
U4 K>EJ -J J J 6
AV6= 6G J 6 = 5J=J
39J U4 K>EJ J 6
AV6= 6G J 6 =
5J=J
9G U JlJ6L J 6
= 5J=J
= 5L6 U<
U46J U4 K>EJ= AlK 9f*V6= U{V 39J }*J EJ U8>J B V/V&
=R7 U J6 U JlJ6L= Al4 9f*V6= U{V 6p U J6 U46J= 7V=
"JK5 J= K:KV/ 7V4E BE
=R7 "JK5 J=7J U46J= AKB/
;6 {K/7P=. U<J" B EJV& 9K>EJ ".p B V9 <JBJ 7K=V?JV5=
4JKE/i U4 K>EJ AJ9pvb B EJ AGzJeb JV4V?= /JK=V!= 7PV9q 39J
U{;/ }*J EJ U8>J J<qz; J=lj B EJ= /JK=V!= 7PV9q djM/
B EJV& 9G
J 6}K> /46M<JEL J<q = B V9O
U< U{V {K/7P=.K* B V/V&
K* ;JKA
3q UA U{V
5J=J= 7VEJ'V6 /FAlV q 7V4E 3q 9K>V/ 5J=J
= 5L6
4=!Jvb =J B V> <K4 y ;JKA 3qV U3J V3q 7K=V?J5 =J
Alj9 B / UA U3J 3q 9K>EJ K9V9K%/ B V9 9G
U3J 3q
AlV q ?r; J4J>V/= 7/pE67
K9@VE %PCJeb 7;J. B V9O
7 5J=J
= 5L6 U< 3q U J6 9L;J J=L 7r;J. =J= K5 J=L
UA V3q= U{V 75J=J
= K95J6 7V<J'p B V9 K e\ 6p3JE
y K95J6
U{V 7V<J'p B V9 6J U<!JV6 U4 K>EJ 9pKyK*
39J }*J EJ U8>J B V/V& =R7 U JlJ6LK* 7 5J=J
U<=R7 K>K!/ JV& UA=R7 U J6 %NKy U J6 9L;J J=L= AKB/
AlJ46 V=O
U J6 U JlJ6L 7M6"qK+/ B EJ= '6p 39J 6p U J6 U JlJ6L=
AKB/ K/ B EJ= '6p Uv2_&JE }*J EJ U8>J= U{V
5J=J=
K95J6 7V<J'p B V9 6JO
O .<~<0 )<=,G 0 F`Gm =,G23 =,(<)Aoo
5pJE
5J=J=
K95J6 AJV7V{ U J6 'JBJV'= ;JJ= 39J 6JK9V = U{V 7V<J'p B V9O
U J6 4M#q*6J= U6JK*? {K/7P=V.= 4J9L U< U{V '!;7J
9pKyK* 'JBJV'= ;JJ= UA U{ 9p/L/ 'JBJV'= ;JJV== 7=
113
'J=L =J B V9 U<6 K/K6 ;JK> K e\ U< U{V 4M#q*6J 'JBJV'

#V* 9G {;/J 'JBJV' =^ BE UA U{V U J6 6JK9V = 7V{
4M#q*6J= U J6 U6JK*? U4 EJ= 7VEJ'6 B V9 6JO
U J6 ;JJ= 39J 6JK9V = ;S/Np= U{V {K/7P=V.= 4J9L 4J9L J=L
/Tq ;S/Mp= !9= 7J EJ= &E ;JVA= ;V5p 39J U< U{V 'JBJ'K*
BJ= A >V K6EJ BJ=J EJ K"EJV& 39J BJ=J EJ K"EJV& 9K>EJ
".p BE UA U{V BJ=J EJ <J EJ= 9J K"EJV& 9K>EJ ".p B EJ=
/JK=! B V/ J+JV=J ;JVA= ;V5p K=V/ B V9O
U< U{V '!;7J ;JJ= 39J 6JK9 V K9V4V? U J3J K,A%J'q
=J BE 39J &JKCEJ JAJ BE UA U{V UA U4V?= U J6 K9%J=
9J ;pJK'Vr* 39J U4V? U J6 6AMp>J= ;q /qJ /qS "SBL/
9G /F /qS A= JV== K6 * U7K=/ U J6 AJ{p U J6 4J9L J4JE
AGzJeb J<qzV; AJ{p KBAJV9 "B.V<J"p B V9 <K4
AJ{pK* y K9%J= ;pJK'Vr* 39J 6AMp>J= ;q /qJ= v2J{=
J=J 7;JK. T/ BE
! K99J4L 39J K:<My 9pKy v2J{LV U'=J K=9J= AMV<J" 7J6 9G
" AJ{pK* U J6 U8Y'4J=L J<qzV; "SBL/ B V> BJ 7;J. =J BE
U< AJ{p K:<My 9pKy= 7Kv]K/V/ "SBL/ B EJK&>
9G U J6 U{V y=R7 AJ{p 4vb!/ K=EJV&6 9K>EJ 4S 9pKy=
4vb!/ 9J 74 ;<qJ4J 7;J. =J= 7VEJ'6 B V9 6J 9G K99J4L
39J K:<My 9pKy AJ{LV U'=J K=9J= AMV<J" 7J EJK&V>6 9G
AJ{p U8Y'4J=L J<qzV;= U{V K:<My 9pKy= 7Kv]K/V/
"SBL/ B EJK&>
;V;q y 9pKy /qS 74 U J6 7/pE67
K:6g=R7 7;JK./ 6J B V> K/K6 y=R7 AMV<J" 7J EJK&V>6 9G
BJ y=RV7 "SBL/ B EJK&> BJ= 7<qJ 7;J. B V9O
9JG>JV4V? 7%K>/ 9JK.K'p 'JBJ' AlK q/ U J6 J V6= 5L6
'JBJV'= ;JK> '!;7J ;JJ= 9G 6JK9V = U J6 A;VE= '6p
U!J=V7J@ 9B6 K=V/ 9J5p B V> A;VE= '6p {K/7P=. 9J94
U J6 ;JKA 3q 7V4E B V9 6JO
9A= :J/J U6Y UA6J K9;J6 9JKB6L 9G 9JK.'p U6Y J 6
= 5L6 7.L/ <M 9A= :J/J 9G J* :J/J 9JK.'p
U6Y /pJK4 vZL;
39J <M 9A= :J/J 9G J* :J/J
:J=/LE 6JK9
/pJK4 vZL;
39J A= J= /Tq 7.L/
57
114
<M 9A= :J/J 9G J* :J/J :J=/LE 6JK9 vZL;

=
5L6 U J6 '!; AlV q "J%N *L :J/J 9J 9A= :J/J= 9p9v]J =J
B V>
5pJVE= 5L6 /FAlV q U J6 {K/7P=. 7V4E B V9
6JO
5pJVE= 5L6 K65JqK=/ A;VE= ;V5p U J6 U6JK*? 74J6 9J
4J9L U7? 9J J<qz; =^ K=V/ 9p3q/J
5pJVE= 5L6 U J6
9pKy"/ '!V;= AlV q U J6 J<qz; %J>M =J= K9@VE 9J5J B V9
6J <K4
7 5J=J
K>K!/ U J6 vZLV;= 5L6 y '!; AlV q
3q 74JV6= '6p 4=!Jvb =J B EJ 3JV
9G
5L6 U J6 J<qzV; U J6 9pKy= {K/7P=. 7K=V?JV5= 4JE 39J U J6 '!;7J

?rK; K 6J 39J {K/7P=V.= 7K=;J. U;EJ4 39J U J6 {;/J= 7 TK/ 9J
7K=;J. AlV q <K4 U J6 7?g JK7/ BE /JBJ B V> 7?gK* U J6 %MKy=
9/q;JV6 ?r; J4J>/ K6uK K=V9O
5pJVE= 5L6 U< 7?g K6uK =J= !K/EJ= ?r; J4J>/V
U4 EJ JV& UA AlV q 39J
5pJVE= 5L6 U J6 4JE 9>9F
=J= 9pJ7JV= U J6 U4 EJ6L J4J>V/= !K/EJ= 3JK V9 6JO
O </Y(<0<0 \L<)Aoo U< U{V
5pJVE= 5L6 U J6 K9@E ?r;
J4J>/ /qS 9J ?r; J4J>/ A;LV7 AlJ46 B EJ= 3J UA U{V BJ
5pJVE= 9G U J6 K9K5= K95J6 AJV7V{ ?r; J4J>/ /qS 9J ?r; J4J>/
A;LV7 AlJK4/ B V9 <JBJ= >J J= ;V5p U< 4M#q*6J= 8V> '!; B EJV& BJ
#K*EJV&H
/V9 ?/q 3JV U< U< U{V ?rK; K* U J6 'JBJV'= ;JJ= 9J 6JK9 UA
U{V 'JBJV'= ;JK> 39J V'f* U< >J JE 9JA V=6 9J 9p9AJ 7K=%J>6J
V=6 UA >J J= 7= !K/EJ= Al6g ?r; J4J>/ /Tq 9J ?r; J4J>/
A;LV7 y=R7 K9@EK* AlJK4/ B V9 O
O '0 <G\O0 2$YAoo
5pJVE= 5L6 U J6 U7J@p /Tq {K/7P=V.=
4=!Jvb 9p/L/ U J6 K9@E K6uK= '6p ?r; J4J>V/ 4=!Jvb =J <J V9 6J <K4
6J :E7{ y U J6 K9@E AlV q K/ U J6 7?g %NKy= ;J5pV; K6uK K=V/
9p3q B6O
O .<0<$V '? Y )<0 F`Gm 2Z. <'<1$ $YD =$=0^ .< $1, 0<0
`.$<Aoo
U< U{V '!V;= 8V> ;S/ U J6 ?rK; AlV q 7V4E {K/7P=.
9J94 U J6 3q ;JK> /Tq ';J U4 EJ B EJV& 9G ?r; J4J>V/= ;V/ y
3q 7<Jq UA U{V y J4J>/ BJ= <MKy V>! 7P9q K>K!/ U6JK*? 'J=L
K=EJ BJV/ K>K!/ A;VE= ;V5p JV=J K5 3q U 6 ';J =J B V9 6J
/FAlV q J=. 4?qJV6J= '6p ;JK> V K6V4q? K4V/ 7JK=V9O
<K4 ;JK> ?r; J4J>V/= AVebJ@ ;/ J=. 74?qV6 9p3q B6 /JBJ
B V> y J4J>/ {K/7P=. 9J94 U;J* 7V4E V3q= 7K=;J.
K65qJ=. K=EJ U=JVE4J4 K4V/ 7JK=V9 9G ;JK> V y 7K=;JV.=
#J*K/ 3q ';J K49J= K6V4q? K4V/ 7JK=V9O
O @=^ F0= =~Z 0#Aoo
U< U{V {K/7P=. 9J94 7V4E U J6 U3J
V3q= 7K=;J. %NKy J=J K65qJK=/ =J BE BJ ;JKA 3q 7K=V?J5 K=EJ B
39J 6p U J6:JV9 B
39J U< U{V y=R7 K65qJK=/ {K/7P=. J 6"/
! A= J=
;V;q 7/pE6 V= U< y 4=!Jvb
<MKyAG"/ K9?nJVA
=J B EJK&> U< '!;K* ;6 U< BJ AlV q U< vZLV;= 5LV6
4=!Jvb =J B EJK&> y vZLV; BJ= '6p 3q 74JV6= 9p9v]J
JV& 9G '!;K* y=R7 U J6 '!; 6VB
J=V. 4=!Jvb!JK6
6J ;M= =J B EJK&> 39J y 4=!JVvb= 7K=V7K{V/ 74 3q
74J6 9 K=EJ U4 EJ B EJK&> 9G
"
5pJVE= 5L6 J<qz; A= JV== y 7/pE67 U4 EJ=
;JVA= ;V5p =^ =J B EJV&O
O `=$*B0# 4UG Y =,,0#>Aoo A= J= A= J=L U"V'V* 7J76 J=J
;V;q K6V4q? K4V/ 7JK=V9 U< ?rK; K6VEJ" J=L 7V/p 9pKy 39J y=R7
9pKy"V.= U J6 U?r.L 7J7V6 K>K!/ /Tq7V{= K6 * BJV/ K>K!/
A;VE 8=V; K* K99=.L U7=. K=V96 <JBJV/ 7P9q9/Lq 9FAV= U< A;vb
'!V;= '6p ;JK>
/qS {K/7P=. 74J6 =J B EJV& BJ= AG!pJ y=R7
{K/7P=V.= 7K=;J. 9G A= J= /Tq K6V4qK?/ {K/7P=. Al2V 6pJ6p K9@E
V>! 3JK V9O
O '<7 .?=^ ,< 1< G,0 @=^ ,<=$1Aoo
J 6 9>9F B EJ= 7PV9q 9J
7V= AlJK4/ U J6 %MKy J=J <K4 U J6 ?rK; /JBJ= %J N=L JV> 39J BJ B V/
djP/ U J6 9pKy"/ '!V;= '6p ;JK>V = K6 * B V/ U J6 {K/7P=. 7J EJ=
K5 J= 7K=/pJ" V=6 /JBJ B V> y %NKy J=J
5pJVE= 5L6 U J6
9pKy= {K/7P=. 7K=V?JV5= 4JE </!JK6 7AJK=/ 39J BsJA =J B V9 //!JK6
7<qeb 9JK/> B V9O
O =$*7 *r2R 2Z. <'<1G$ =)[=k0 )X F*r0#Aoo
5pJVE=
115
58
116
{;/J= 5L6 U J6 9pKyV 7V4E BE UA U{V /FAlV q K* voJ= K>K7

;JK> /qS ?r; J4J>V/ U7=. K=V/ B V9 9G y J4J>/ BJ= <3J3q/J
Al2V K6K/ B EJ= 7= K9K5J=J K65qJK=/ 7K/V/
K* U=K'JV= K>K79
K=EJ =JK!V9H
$G, 2$Y &<G F/o
y=R7 U J6 voJ=
y J4J>/ /qS 7{".V /FAlV q
9KB/ =J= AJ/ K4V6= ;V5p K>K79 =J <J V9 6J
! y J4J>/ UV/= K6 * BJ 7/LE;J6 BE U< U3J
3q
7K=V?JV5= '6p U J6 %NKy BJ ;JKA
3q 7K=V?J5 K=EJ B
39J 6p U J6 :JV9 B
39J J 6"/ {;/J= 5L6 U J6
9pKyV 7V4E {K/7P=V.= 7K=;J. Al2V U J6 %NKy y 3q 9J
7K=;JV.= 7<Jq/J= J=V. 39J 7/J=.J 39J X95 7:J9
39J 6p U J6 AG"/ 7JE 9>l2V6= J=J BJK&> =J= J=V.
BJ U=K'J=:Py =J K%/ B V9 6J UA U{V y J4J>/
9v]J= 7K=V7K{V/ %NKy= 5L6 74 3q 7K=V?J5 Al qAB
<3J<3 JV4? K4V/ 7JK=V9O
6p U J6 J V6 <JBJ K &M 3J N 6J U 6 7 5J=J
= 5L6
U=K'J=:Py {K/7P=. 74J6 AlV q U J6 %NKy
J V6= 5L6
9>9FV<J"p B V9O
O @=^ F0= =~Z =0G$ ,X&Y$<0 +1Aoo U< U{V 5J=J
= 5L6
U=K'Kr =. 7VEJ'6 =R7 U J6 %NKy= voJ= K>K7 y 5J=J= K95J6 6M<JEL ?r;
J4J>V/ U7=. =J 6J BE UA U{V ;JK>
5pJVE= 5L6 /F /Tq 7V4E
{K/7P=V.= AlP.q 3q 7K=V?J5 K=V/ 9J5p 3JK V96 9G y J4J>/ K:6g=R7
K6V4q? 6J K4V> K/K6 {K/7P=. 9J94 ?rK; V 7K=V?JK5/ V3q= BJ %NKy= 5L6
B
39J 6p:JV9 B
V5qV = K5 /q6 K=V/ K5 J=L B V96 6JO
O <*>1Aoo
5pJVE= 5L6 74 ?r; J4J>V/= K6;gK>K!/
JV4V?= K9=^V *rJ 9Mp6JV> J7L> =J <J V9 <3J H
{K/7P=. KBAJV9 U3J
3q U=JVE4JV4= JV4? BJ ;JKA
3q
7K=V?J5 K=EJ B
39J 6p:JV9 B
39J U3J
3q
74JV6= 4J9L AlP.q 9J JGK? 6J ;MV== JV4?
! 3q 7K=V?J5 =/H ;JKA {K/7P=. 7r4JV6= 4JE B V/ ;My B EJ=
JV946 7/pJ!pJV6= JV4?
117
" U J6 ;S/ ?rK;V = U7J@p"V.= ;V5p {K/7P=V.= 3q 9f*V6= 9p9v]J

Al2K>/ JV4? 39J y=R7 U7J@p 9K>EJ 4J9L4J= U J6 9pKy=
{K/7P=. 7J EJ= 4J9L 6J ;MV== JV4?
# 5J=J
= 5L6 {K/7P=V.= U J6 3q 4J9L ;M= 9J 6J
;MV== JV4?
$ %NKy= voJ= K>K7= U=K'Kr =. 7/pJ!pJ6
39J BJ=
U=K'Kr =. 39J BJ ?/qAJV7V{ U=K'Kr =V.= JV4? 39J
% 5J=J
= 5L6 JV4?O
7{". /Tq ?r; J4J>V/= KAJeb ;JK6EJ %K>V/ Alo/ B EJ=
U{V 39J 7{"V.= ;V5p AlJK4/ %MKy J<q = =J= '6p ?r;
J4J>/ /Tq 74 U J6 JV4V?= K9=^V J7L> %K>V9 6JO
;JK> /qS 7 5J=J
= 5L6 U J6 J7L> 4JVE= =J
<J V9 6J <K4 6J J7LV>= voJ= K>K7= AKB/ ?r; J4J>/ /Tq
74
;V;q 7/pE67 3JV U< J7L> J=L y J4J>V/
AGK? JV4V?= 5L6 7V4E 3q ';J K4EJV&6O
U J6 JV4V?= K9=^V U J6 J7L> %K>V9 6J <K4 6J J7LV> U J6
V>!V<J"p J 6"/ 7r?g 'KC/ 3JV
9G 7 5J=J
!
K>K!/ U J6 JV4? 9p/L/ 6p U J6 JV4V?= K9=^V U J6
J7L> %K>V9 6J <K4 6J J7LV> K9V=J5LE V3q= 7K=;J. 6Mp6
BJ'J= *J J BEO
5J=J= 5L6 J7LV>= '6p /J;JK4= U;EJ4 B V9 @J* K46O
/J;J4L J 6
AV6= 6G J 6 = 5J=J
=
K95J6
5J=J= 5L6 J7LV>= U{V 7V<J'p B V9O
O <*>G10 =4s<PO 4<G*G` =$*7 *=0G2<( \L= $ 0#Aoo U< U{V
U J6 ;JK> 5J=J
= 5L6 U J6 J7L> 4JVE= V=6 UA U{V
?r; J4J>/ J7LV>= KAJeb AJV7V{ BJ= K6 * ';J T/ U J6 3q 7K=V?J5
v]K"/ =JK!V/ 7JK=V9 9G *rJ 9Mp6J> K6V4q? K4V> BJ 9?p v]K"/ =JK!V9O
O `=$*B0# =54<G, *r'k F <) &Y 5\O<PO0 0< 4UG Y )X F <) 0<G{Z0
49G ,X,\L< </Y 0 0<0 )X =,=(Aoo
A= J= A= J=L U"V'V* 7J76
J=J
5pJVE= 5L6 ?r; J4J>V/ ';J T/ U J6 3q <JBJ 6p
U J6 U4V? 9A9JA K=V/V&6 39J K=V/ <J V/V&6 ;6 U J6
9pKyV 7V4E 39J /JBJ= 7J7p y U4V? BvbJebV== '6p 9G
59
118
mG7<'2 (X<7
! 9JG>JV4V? 9A9JA K=V/V&6 39J K=V/ <J V/V&6 ;6 U J6

9pKyV 7V4E 9J /JBJ= 7J7p U J6 3q <JBJ 6p U J6 U4V?
?rK; "V.= {K/7P=. AlK q/ U J6 J V6= 5L6 ';J =J
B EJV& 9JG>JV4V? "B. 9f*6 9G 7K=%J>6J= '6p
K9K5 7.E6 K=V/ 7K=V9H
/V9 ?/q 3JV UV = AloK/ 9pK/V=V
y=RV7 BvbJeb= =J <J V9 6J </{. 7<qeb ';J"B. J=L ?r;
J4J>/ 5J=J
9G
= 5L6 y V3q= 9f*6 9G
:J" K6.qE K=EJ JV4? 74J6 6J V=O
U< U{V
5J=J= 5L6 7.L/ K9K5 U;J/JV9 U J6 ?r; J4J>V/
';J T/ U J6 3q y=RV7 BvbJeb= =J BE UA U{V y 3q
AlV q ?r; J4J>V/ ';J T/ U J6 {K/7P=. K9K> 9f*6 AlV q
5pJVE= 6p U J6 K95J6 J= 7V<J'p B V9 6JO
119
F Z!
=)7) ,9 =2y 4U Y
O 2Z=.G 0 =,G23 49f<Aoo K9@E 9J 7AGV"= 7K=7e]L U J6 K &M 6J

3JK V>
5pJVE ?rK; 3q 5J=J
AGJKE/ U J6 ?rK;
9G
5pJVE= 5L6 K? K9V=J5 AlV q U J6 J<q5J=J= 7VEJ'V6 y K9V=JV5= APV
39J K9V=JV5= 8V> U> 8 T/ &J*J T/ K,A%J'q T/ 9J 9=!Jvb T/ 39J
6p:JV9 %J N=L B V/ 7AJK=/ U J6 ?rK;
39J <JBJ= U> 8 &J*J
K,A%J'q 9=!Jvb 9J 7AJ=. B V/ y K9V=J5 K/ B EJV& =R7 U J6 ?rK;
BJ= eb:Mqy B V96 K e\ U J6 7K/JV6= 7JBJ=J *B>4J=L 39J K6=J7J J8
K"g K69qJ7 JV8= U J6 A4Ap 9G U"J76LE AB J=L BJ= eb:Mqy B V96 6JO
O .<=1
2Z=.G 0 F Z! =)7)Aoo
5pJVE= K95J6 AJV7V{
;M!p/H ?rK;
9G ;JK>V = Al q 39J ?rK;
9G ?rK;V =
Al q K6Ee. =J= >V{p U J6 7J3q p &JCJ A > ?rK;V = U*r,
K6E6 "+6 =J= 9G AGK? K6EV6= "+6/e AJV7V{
/JBJV4= K6'v2 7&Vf4= U*r, K6EV6 U<J"4JV6= K5 J= 3JK V9
! ;M!p/H ;JK>
9G ?rK;V = Al q 39J ;JK>
9G ;JK>V =
Al q K6Ee. =J= >V{p U J6 7J3q p &JCJ A > ;JK>V = U*r,
K6E6 "+6 =J= 9G AGK? K6EV6= "+6/e AJV7V{
/JBJV4= K6'v2 7&Vf4= U*r, K6EV6 U<J"4JV6= K5 J= 3JK V9
" ?rK; "V.= 9G ;JK> "V.= U*r, K6EV6= U8,JV=?6 "+6 =J=
9G BJV/ U<J"4J6 =J= K5 J= 3JK V9 9G y=R7 U J6
K6E6 9J U8,JV=?6 = ?rK; 39J ;JK> "V.= AG"+V6= U J6
Jeb'qJK/ AGv]J 9J 6V8,JV=?V6= AKB/ Al2L =V.= K5 J=
3JK V9 9G
# U*r, K6E6A;PVB= 9G ;JK> V4= AK;K/A;PVB= K6'v2 "+6/e
K9K5;J>J 7.EV6= AlP.q v2J5L6:JV9 K6'v2 7K/K6K5V4=
K69Jq%V6= AK;K/= 7?JA6
;q/F7=/J AG"+V6= 9G ;qAP%L
7.EV6= K5 J= 3JK V9O
O F0= =~Z 0G#0 )X '0 <\OAooU J6 U*r, K6E6 BJ= A:J7K/ 9G
AlJ4V = v2J{V=
5pJVE=
5L6 BJ= U=K'Kr =V.= '6p AGK?
>J J= U=K'rJ= 9 U*r, K6E6 = K6 * 4=!Jvb K=V/ 7JK=V9O
O '0 <G\O0 )X *rG7< )>7 =,37<='Aoo
U J6 U*r,
K6E6
60
120
U=K'Kr =V.= '6p 4=!Jvb ?r; 7K=%J>V = 39J /4AGK? K9@VE 4JKE/i7J
;q /qJ= K6 * U7? K=V/ B V9O
y 4=!JVvb= AKB/ K6;gK>K!/ K9@E}K> AGV<JK'/ 3JK V9 <3J H
K6;gK>K!/ /3p A=9=JB K=EJ K* K99=. <3J H
U*r, K6EV6= 6J; 9G BJ= 75J6 J<qJ>VE= K+ J6J
U*r, K6E6 "+V6= /JK=!
U*r, K6EV6= ;q /qJ"V.= 6J; 9EA K+ J6J U7?J 9G
K6EV6 /JBJV4= 74
A > %JI4J 4J6 J=L A4Ap"V.= K99=.
U< 7K/JV6= AKB/ U*r, K6E6K* AGK? BJ= 6J; 9G
BJV/ K6<My 9J ;q=/ ?rK;V = U;J* AG!pJ
U J6 U*r,
K6E6 U8,JV=?V6= U{V BJ= A4Ap
K6EV6= 6J; K+ J6J U=K'Kr 6l2=
! U*r, K6EV6= "+6/Ve= K/6K* K7 9G /FAB U< A:JE BJ
"BV.= '6p 7vbJ9 "SBL/ B EJV&
y A:J= A:J7K/=
4vb!/Al2K>/ y 7vbJV9= K* K7
" U*r, K6EV6= A:J7K/ 9G AlJ4 V
BJ= U=K'Kr =V.=
'6p 4=!Jvbb K=9J= {;/J 74J6 K=EJ BJ= A4Ap". /Tq
"SBL/ 7vbJV9= K* K7 9G
# U*r, K6E6 U8,JV=?V6= U{V BJ= A4Ap B EJ= '6p AloK/
7 J? K=EJ 7V/p A4Ap K6E6 /qS "SBL/ 7vbJV9=
K*
K7O
?r; 7K=%J>
39J /4AGK? K9@VE 4JKE/i7J ;q /qJ 7
5J=J
= 5L6 U J6 4=!Jvb 7J EJ= 7= BJ=
K* K7
K6EV6= ;q /qJV4= /JK> JAB AGK? ;JK> V /JBJ=
9"K/= '6p K9>Vl2 U7=. K=V96H
/V9 ?/q 3JV U< 7K/J67MV= U{V JV946 J=L= !=V%
U=K'rJ= 9 U*r,
K6E6A /qS
K6EV6= ;q /qJV4=
/JK> JAB ".K9K 7%JV== 9p9v]J K6V/ B V9O
O F0= =~Z 0G#0 )X *rG7< )>7 =,37<='Aoo
5pJVE= 5L6
U J6 U*r, K6E6 U=K'Kr =V.= K5 J=L B V9 6J <K4 6J BJ= "+6/Ve
K6;gK>K!/ K9@EJK4= K95J6 3JV <3JH
U*r, K6EV6= 6J; K+ J6J
121
! U*r, K6E6 "+V6= V?p

" U J6 ?rK;V = U*r, K6EV6= A4Ap B EJ= 7e]J 9G BJV/ U J6
?rK;
BJ= "+6/Ve 74K?q/ 8=V; K/K6 6p U J6 U*r,
K6EV6= A4Ap 6VB6
;V;q U#[email protected] K4EJ 4=!Jvb 6J K=V>
BJ= A4Ap B V/ 7JK=V96 6J
;V;q v K95J6
# U*r, K6EV6= /BK9V>= FA 9G y /BK9> K VV?p 9p9/
B V9 /JBJ= 9.q6J
$ U*r, K6EV6= "+6/e /Tq K6K/ U J6 AMK95J U J6 A4Ap
/qS 7J EJ= K5 J=L B EJ= '6p ?/q 9G U J6 A4VAp= 7=
'K=;J6J 39J 9JV'EJK= JV4? 74JV6= ?/q
% U*r, K6EV6= A4Ap"V.= /JK> J AG={. 9G BJ= ;q /qJ
A4Ap /Tq BJ 7K=4?qV6= 7<qJ AMK95J
& "+6/Ve= 7K=9/q6 AGV?J56 9JK/V>= 7e]J
' U*r, K6E6 /BK9V>= K6=J74 UB8J'/ BJ= 9JFAK= K6=L{J
K6=L{J= 7e]J 9G U*r, K6EV6= ;q /qJ
BJ= A4Ap /qS
BJ= KBAJ9 9 7K=4?qV6= 7<qJ AMK95J
( U*r, K6E6 9>MK= 7e]J
) U*r, K6EV6= AJ5J=. A4Ap". /Tq BJ= ;q /qJ K69qJ%V6=
7e]J 9G ;q /qJ"V.= J<q JV>= U;EJ4 <JBJ U J6 U{V 4M
9FAV== U9?L B V9 6J
* ;q /qJ"V.= AG!pJ <JBJ K9K5 J=J K65qJK=/ 7IJ%'V6= ; 9G
7IEK? 'V6= U9?L B V9 6J
+ U*r, K6EV6= ;q /qJ"V.= K9=^V 6Jv]J 7 JV?= 7K/ 9G
, U*r, K6EV6= K69qJBL K;K* 9G AJ5J=. A4Ap"V.= A:J JB9J6
<JBJ K69qJBL K;K*= U{V 7rK/ K/6 ;JVA eb/
9J= 9G
AJ5J=. A4Ap"V.= U{V 7K/ 9FAV= eb/ 9J= B V/ B V9O
?rK; "V.= U J6 U*r, K6E6
5pJVE= 5L6 U=K'Kr =V.=
K5 J=L B V9 6J <K4 6J U< 7K/JV6 BJ "K+/ B EJV& UA
7K/JV6 K6<My ?rK; "V.= U;J* AG!pJ= 6Mp6 ?/ =J K?:J"
?rK; BJ= A4Ap B6 H
/V9 ?/q 3JV U<
;JK>V = 5L6
JK5 7K/J6 <K4
K? 7K=%J>6J= VV?p V
7V== AKB/ AGK?
Al q<My BE /JBJ B V> BJ=J U<!JV6 v]JK7/ B 6J U 6
61
122
75J=J= VV?p K* 7K/J6 9K>EJ ".p B V9O

U< U{V U J6 4M 9J /V/JK5 7K/J6
;JK>V = 5L6 K 6J
39J
K? 7K=%J>6J= VV?p BJ=J 7=v= AGK?
Al q<My K 6J =R7 U J6 AVf4B 9J K9V=J5 U4!J U4E UA U{V
K9@EK* K6uK= '6p ?r; 7K=%J>V = K6 * U7=. =J <J V9O
7 5J=J
= 5L6 ?r; 7K=%J> /Tq 74 U J6 KAJVeb=
J=J U J6 9pKy AG{N B V> K/K6 KAJeb 74JV6= /JK=! B V/
K? K4V6= ;V5p BJ= K9=^V ?r; J4J>V/ J7L> K=V/
7JK=V96 9G
K9@VE ?r; J4J>V/= KAJeb %PCJeb B V9O
U J6 7K/JV6 39J 7K/J6 7MV U J6 A;VE K/6K*= K5
U=K'Kr T/ U*r, K6E6 3JK V9 6JO
O F Z! =)7G)0 4'4X ,< .Y $Y< 5 7<0 G/< X$<Aoo U J6 U*r,
K6EV6= "+6/Ve <JBJ K &M 3J N 6J U 6 U J6 9pKy BJ= ;q /qJ 39J
A4Ap K69qJK%/ B EJ= 9J 3JK 9J= U<J"p B V96 6J <K4
K/K6 W6K/ >6'K6/ U J6 U8Y'4J=L 7=JV5 U4J@L AJ9pvb B EJ
3JV 6 39J 5J=J
# 39J 5J=J
= 5L6 U J6
7=JV5= '6p U4J@L AJ9pvb B EJ 3JV 6 9G /JBJ= ;MKy>JV:= 7=
4M 9FA= J> K/9JKB/ 6J B EJ 3JV
! U< 7K/JV6 U*r, K6E6 "+6 =J B EJV& UA 7K/JV6 K/K6
?rK; KBAJV9 K6VEJK'/ 9J ;q=/ 6J 3JV 6O
7 5J=J
! = U J6 K &M U J6 U*r, K6E6 U8,JV=?V6=
U{V 7V<J'p B V9 6JO
O F0= =~Z E$ F Z! =)7) $EY F0= ~<0 $X<=' 490`#Aoo7V/p
U=K'Kr T/ U*r, K6E6 K9K5 J=J K65qJK=/ 8=V; K6;gK>K!/ U=K'J= 9J 9
AG={. K=V9 <3JH
A4Ap U=K'J= <JBJV/ 7V/p A4Ap /qS 7K=V?JK5/ %IJ4J=
9.q6J 3JK V9
! KBAJ9 9 <JBJV/ JE 9G 9pE 74K?q/ B V9 9G
"
J<q K99=.L 9 <JBJV/ A > 7 J= J<q K99=.L K>K79
3JK V9O
O F0= =~Z 0#Aoo
?r; 7K=%J> U J6 U*r, K6E6 /qS
5pJVE= A > 7VEJ'6LE K9@EJK4 7JK>/ B EJV&
;V;q Ae\ B EJ= 7= K9K5
J=J K65qJK=/ U=K'JV= BJV U=K'Kr K=V96 9G U=K'Kr =V.= '6p
123
4=!Jvb 7JK= @J* K4V6= ;V5p K9K5 J=J K65qJK=/ 8=V;

K* U=K'Kr =.
7/pE67 74J6 K=V96O
<K4 ?r; 7K=%J> y 4=!JVvb /pJ9?p U J6 /V3p= AlP.q/J
U4K!V/ 7J6 /JBJ B V> K/K6 4=!Jvb 7JK= 76= K4V6= ;V5p y
K9@VE /JBJ= J7K U*r, K6E6V K>K!/:JV9 'J6J V96 9G
U*r, K6E6 BJ 7JK= 76= K4V6= ;V5p BJ= '9J9 K4V9O
<!6 ?r; 7K=%J> /qS JK7/ J7K AVebJ@'6 :JV9 K;*JV6J
BE /!6 K/K6 7 5J=J
= K95J6 6M<JEL U*r, K6E6K*V
U=K'Kr K=V96 9G BJ <K4 AVebJ@'6 :JV9 K;*JV6J 6J BE
/JBJ B V> K/K6 4=!Jvb 7/pJ!pJ6 K=V96O
U< U{V ?r; 7K=%J> U J6 4=!Jvb 7/pJ!pJ6 V=6 39J J7K
K;*JV6J= 7V= 7 5J=J
= K>K!/ @J* K46 A;EAL;J=
;V5p 4=!Jvb K6vK 6J V=6 UA U{V AGK? U*r, K6E6
y=R7 7/pJ!pJV6= /JK=! 39J K>K!/ A;EAL;J K/zJeb
B EJ= /JK=! <JBJ JV" B V9 B V/ K? K4V6= ;V5p ?r;
J4J>V/ J7L> K=V/ 7JK=V9O
?r; J4J>/ J7L>K* 6J6L= 7= 7<My K9V9%6J K=V> BJ=
=JVE J=. K>K79 K=EJ ?r; 7K=%J> V U*r, K6E6K* U=K'Kr
K=9J= '6p 9G BJ= /JK=! B V/ AJ/ K4V6= ;V5p U=K'Kr
7/pE67 7r4J6 K=9J= '6p K6V4q? K4V/ 7JK=V9 39J J7L>K*
!JK=' K=V/ 7JK=V9O
7 5J=J
6MAJV= ?r; J4J>/ /qS 74 =JVE= K9=^V
AG{M 7{ ?r; J4J>V/= JV4? 7JK=
K? K4V6= ;V5p
?r; J7L> J4J>V/ J7L> 4JVE= K=V/ 7JK=V96O
O *r=$|<) *?Gh F Z! =)7) F0= =~Z 0#Aoo
5pJVE <JBJ
K &M 3J N 6J U 6 U*r, K6E6 "+V6= VV?p U J6 7K/J6 7M
K*
7K/J6 9K>EJ K9V9K%/ B V9 9G
7K/J6 7MV= eb:Mqy U J6 7K/JV6
U J6 v2/e U*r, K6E6 "+6 =J <J V9 6JO
5J=J= VV?p U J6 7K/J6 7M 9K>V/ U J6 K65qJK=/
>J JE
7 JV== U J6 K65qJK=/ K?V K6VEJK'/ 9G 6K5
K9? '6 ?rK; K6<My JV&6 =R7 A > 7K/J6V 9M(J V9O
7 5J=J
<JBJ K &M 3J N 6J U 6 U J6 K65qJK=/ >J JE
K6;g9K.q/ U6J=/ A > 7K/J6 BJV4=
62
124
7V/p K*V/ K6<My ?rK; AG!pJ <JBJ 3J N 6J U 6 y >J J=

'6p K* 7K/J67M 9K>EJ ".p B V9 <3J H
9pKy ;JK> J6J5L6 AC 7K=9B6 K=| JAB
! 9pKy ;JK> J6J5L6 :peb=L6 U6Y 7K=9B6
" 6P5hq
'6 ?rK; K6VEJK'/ 4K'q U7J@J 7v\/ J=L K?
# %J K?
$ 'M* U9K>G
% %J;CJ K?
& K9KC
' Bvb%JK>/ /IJ/
( UBJK?EJ=L
) &J7J!J6J
* 6K5 7IK%? K/K3 {K9K? UBJV*> 39J U;JV*>
+ UBJV*V>= G? KBAJV9 6VB ;6 U=VvbJ=IJ
, {N4r 5J/9 K?
- 9 9IJ5J
. KAV6;J 9G K3VE*J= H
/V9 ?/q 3JV U< A= J= <K4 'J/LE v2JV3q K%/ 9K>EJ ;V6 V=
/JBJ B V> A= J=L U"V'V* 7J76 J=J 7V=Jy K?V= /JK> J=
AKB/ 6p U J6 K? U<J" K=V/ 7JK=V9O
7 5J=J
39J
K>K!/ K65qJK=/ >J J 9K>V/
A= J= /qS A= J=L U"V'V* 7J76 J=J /4 VV?p U J6
K65qJK=/ K?V= '6p K65qJK=/ U J6 >J J 9M(J V9 9G y=R7
>J J 'J/LE JK>
39J v]J6LE K:KV/ K65qJK=/ B V/
7JK=V9 9G K:6g K:6g K?V= '6p K:6g K:6g >J J K65qJ=. =J
<J V9O
7 5J=J
K>K!/ K65qJK=/ K? 9K>V/ A= J= /qS
A= J=L U"V'V* 7J76 J=J /4 VV?p K65qJK=/ U J6 K?V
9M(J V9O
U J6 7K/J6 7MV "K+/ U J6 U*r, K6E6 U=K'Kr =J <J V9
<K4 y 7K/J6 7MV= eb:qMy A > 7K/JV6 K6VEJK'/ A >
?rK;V = U;J* AG!pJ= 6Mp6 K? ?/JG? BJ= A4Ap BEO
5pJVE <JBJ K &M 3J N 6J U 6 <K4 U J6 7K/J6 7MV
125
"K+/ U J6 U*r, K6EV6= "+6/Ve =R7 K95J6 3JV U< y

7K/J6 7MV= eb:Mqy U J6 7K/JV6 K6VEJK'/ 6VB6 =R7 U J6
9pKy BJ= ;q /qJ K69qJK%/ B V/ 9J 3JK V/ 7JK=V96 /JBJ
B V> y=R7 U J6 9pKy BJ= U J6 ;q /qJ K69qJK%/ B V/ 9J
3JK V/ 7JK=V96 H
/V9 ?/q 3JV U 5J=J U J6
7K/J6 7MV "K+/ U*r, K6EV6= U{V 7V<J'p B V9O
O F,4<.=0 =,.<) *=0,5) *r=$|<G) F Z! =)7) F0= =~Z 0#Aoo
5pJVE <JBJ K &M 3J N 6J U 6 U< U{V U9AJ;K= K9;J6 7K=9BV6= U{V
U J6 K9V?@K/ {;/J Al6g U7?J 39J %J N=L AlV q U J6 v2L T/ Jeb
'qJK/ AGv]J 9/q;J6 3JV UA U{V 9JG>JV4V? U9AJ;K= K9;J6 7K=9BV6
y=R7 U7?J 39J %J N=LV/ K6<My ?rK; ". /JBJV4= K6'v2 U*r, K6E6 "+6
K=V/ 7JK=V96 <K4 y=R7 Jeb'qJK/ AGv]J= AKB/ Al2L =V.= '6p /JBJV4=
y=R7 U*r, K6E6 7VEJ'6 BEO
U J6 U9AJ;K= K9;J6 7K=9B6 7K/JV6 y=R7 7V/p U7?J 9J
%J N=LV/ K6<My ?rK; ". U 9>;J
K* U*r,
K6E6 "+6
K=V/ 7JK=V96O
U J6 Jeb'qJK/ AGv]J= AKB/ BJ Al2L T/ B V9 /JBJ V>!
K=EJ y=R7 U7?J 9J %J N=LV/ K6<My A > ?rK;V = U;J* AG!pJ=
V5qV = U9?L K>K!/:JV9 JV946 6J K=V> y=R7 U J6 U*r,
K6E6 U=K'Kr =J <J V9 6JO
y=R7 U*r, K6EV6= U=K'Kr =. 9JK/>V<J"p B V9 <K4 BJ=
U=K'Kr =V.= &E ;JVA= ;V5p AGK? Jeb'qJK/ AGv]J= AKB/
BJ Al2L T/ 6J BE 39J <K4 !6 BJ= AKB/ Al2 K&6g B EJ
<JEO
O )<=, G#0 F Z! =)7) F0= =~Z 0#Aoo
5pJVE <JBJ K &M
3J N 6J U 6 A;M4r"J;L 'JBJV' AJ5J=./H ;q=/ 3JV 6 =R7 9JG>JV4?L
6JK9 ". /JBJV4= K6'v2 U*r, K6E6 "+6 K=V/ 7JK=V96O
U J6 6JK9 y=R7 U J6 U*r, K6EV6= A4Ap B V96 6J <K4 6J
/JBJ=
K* K9K_&6g K,A%J'q 7/pE67 3JV
39J 9JK.K'p
63
126
'JBJ' 9p9AJVE= U J6 7K/JV6 6JK9 KBAJV9 K6<MKy= U J6

K6VEJ"7 3JV O
5pJVE= 5L6 6JK9 "V.= U 9>;J K* U*r, K6E6 "+6
=J <J V9O
O F0= =~Z 0G#0 '0 <\O =)[)R &< < <G1 < @0>0 2$Y<,1>
*=0,=$Y$ &<= G,Aoo
U J6 ;JK>
BJ= 7K/JV6 "K+/ U J6 U*r,
K6EV6= U=K'Kr =V.= 4=!Jvb K6u6g 3J J JV> ?r; 7K=%J>V = 7P9q 6M;K/
9p/LV=V y K6EV6= U J6 ;q /qJ= AMK95J BE =R7:JV9 /JBJ= 4=!Jvb
7P9q %J N=L= ?/qJ9>L= U J6 7K=9/q6 K=V96 6JO
5J=J
<JBJ K &M 3J M 6J U 6 U J6 ;JK> y=R7 U J6
4=!Jvb K6u6g 3J J JV> y U*r, K6EV6= A4Ap =R7 U J6
?rK;V = %J N=L y 5J=J= 5L6 9AJ6 K=V/ 7JK=V96 6JO
O 4-<*=$
=$*7 .Y $Y<G ,'1> 0< /< G, )<Aoo U J6 U*r,
K6EV6= A:J7K/ AJ5J=. AlJ4 AJG"+K6 AlJ4
39J U J@J5p{V
/JBJ= AloK/ 9pK/V=V
U'>J B V/ 6p U'>JE 94>L =J <J V9 6JO
O )$Pe ,9 =),<Y5> =.= 0 =$*7 *=0,$YG)0 F`Gm F)<= 2
*r'<)Aoo
U J6 U*r, K6EV6= "+6/Ve= 7V/p AGV?J56 BJ= ;q /qJ=
7V/p 7K=9/q6 9G BJ= 6J; K+ J6J= 7K=9/q6 BJV y=R7 AGV?J56 9J
7K=9/qV6= 76= K4V6= ;V5p U=K'Kr ,J U<JV" 39J BJV/ BJV/ U6JK*? 74J6
K=EJ ?r; 7K=%J> V 9KB/ K=V/ B V9 9G ?r; 7K=%J> y=R7 U6JK*?
7JK= 7= AGV" AGV" BJ= K* K7 AGK? ;JK> V /JBJ= 9"K/= '6p
U7=. K=V96O
?r; 7K=%J> y=R7 U J6 AGV?J56 9J 7K=9/q6 U=K'Kr K=V/
v2L J= K=V/ 7JK=V96 <K4 BJ
5pJVE= U J6 K95JV6=
39J AGK? U*r, K6EV6= "+6/Ve= U J6 K95JV6= U!>J7
K=EJ =J BEO
U J6 U*r, K6E6 U8,JV=?6V
BJ= AKB/ U J6 6P/6 A4Ap
K6EV6= AG<MKy 39J BJ B V/ U J6 A4Ap K6EV6= K9<MKy
AlV q BJ AG"K+/ B EJ= @J* K4V6= ;V5p U=K'Kr ,J V<JV"
U7K=/ U6JK*? ;J=8/ ?r; 7K=%J> V 9KB/ K=V/ B V9O
<K4 U J6 U*r, K6EV6= ;q /qJ 7K=9/qV6= 9pJ7JV= U J6 K9V=J5
3JV
39J 7 5J=J
= 5L6 ?r; 7K=%J>V = 7/pJ!pJ6
JV4? J=J U J6 U*r, K6E6 AG{N BE /JBJ B V> y U*r,
127
K6EV6= UV/ J7L> K=V/

7JK=V96O
?r; J4J>/ 7 5J=J
= 5L6 U J6 J7L> 7JK= AJ/
K4V6= ;V5p BJ= 6J6L= 7= 7<My K9V9%6J K=V> BJ= =JVE
J=. K>K79 K=EJ AGK? U*r, K6EV6= AGV?J56 39J BJ=
;q /qJ= 7K=9/q6 U=K'Kr =J= '6p ?r; 7K=%J> V K6V4q?
K4V/ 39J ?r; 7K=%J>V = /iJ95JV6 K6EV6= 6P/6 K69qJ%6
6MJV6= K6V4q? K4V/ 7JK=V9O
O F0= =~Z 0G#0 *r$X7)*mAoo ?r; 7K=%J> 5J=J
= 5L6
U J6 U*r,
K6E6 U=K'Kr =J= 7= K9K5 J=J K65qJK=/ 8=V;
K*
U=K'Kr =V.= 7/pE67 7r4J6 K=V96 9G y 7/pE67 AGK? U*r,
K6E6
5pJVE= 5L6 <3J<3:JV9 U=K'Kr T/ B EJV& 9K>EJ %PCJeb 7;J.
B V9O
O F0= =~Z ,<=$1 0#Aoo
5J=J= 6p K95J6 AJV7V{ ?r;
7K=%J> U J6 U*r, K6EV6= U=K'Kr 9JK/> K=V/ 7JK=V96 <K4
U=K'Kr 9JK/V>= '6p U*r, K6E6 4=!Jvb V=
! BJ= Kvb/i K9>M BE
" BJ 7/J=.J 39J U J6 /V3p= K;3pJ 9.q6J= ;J5pV; U=K'Kr BJKA>
K=EJ 3JV
# BJ BJ= "+6/Ve= U;YK> U J6 K95J6 >G#6 K=EJ 3JV
$ BJ U J6 AF ?r; J%=. K=EJ 3JV
% BJ= A4Ap AG!pJ
5pJVE= 5L6 7VEJ'6LE AG!pJ= 6LV%
6JK;EJ <JE 39J
& BJ
5pJE 9J U J6 K9K5= K95J6 >G#6 K=EJ 3JV O
U< U{V ?r; 7K=%J> /4ebJVeb
;V;q Ae\ B6 U =J K%/ UA U{V K/K6 BJ= U=K'Kr
9JK/> =J= '6p 6M;K/ 7J3q6J K=EJ ?r; J4J>V/ 4=!Jvb U7?
K=V96O
?r; 7K=%J> ?r; J4J>/ B V/ 6M;K/ 7JK= K? K4V6= ;V5p
y U*r, K6EV6= U=K'Kr 9JK/> K=EJ K4V96O
U J6 U*r, K6EV6= U=K'Kr 7 5J=J
$ 6M<JEL 9JK/>
=J <J V9 6J <K4 6J y U*r, K6E6 /qS K:V<JV" 9K.q/ AF
?r; J%=. AG#K+/ B EJ= K/6 ;JVA= ;V5p ?r; J4J>V/ 4=!Jvb
64
128
=J BEO
O )?.=$ $X<='0 =,0MGs <*>1Aoo
5J=J
= 5L6 U J6
U*r, K6EV6= U=K'Kr 9JK/> =J= 6M;K/ 74J6 K=EJ 39J 6M;K/= 7J3q6J
6J ;M= K=EJ 74 ?r; J4J>V/= U J6 JV4? 39J ?r; 7K=%J> /Tq y
5J=J= 5L6 U J6 U*r, K6EV6= U=K'Kr 9JK/> K=EJ 74 U J6 JV4V?= J=J
AG{N U J6 9pKy JV4V?= /JK=! B V/ K? K4V6= ;V5p *rJ 9Mp6JV> J7L>
4JVE= K=V/ 7JK=V96 9G
K9@VE *rJ 9Mp6JV>= KAJeb %PCJeb B V9O
U< U{V 7 5J=J
= 5L6 U J6 J7L> 4JVE= =J BE UA
U{V AGK? U*r, K6E6V
J7L> K6uK 6J B EJ 7<qeb
BJ= J' %J>J EJ <J EJ= 6M;K/ K4V/ B V9O
O F0= =~Z 0# ,X$>$ F <) F Z! =)7G)0 < <1<G)< =)=3sAoo
U J6 U*r, K6E6 U=K'Kr T/ 6J B V> 39J BJ= U=K'Kr 9JK/> =J B V>
5J=J
= K95J6 AJV7V{ BJ U*r, K6E6 KBAJV9 J' K=V/ 7JK=V9
6JO
U J6 9pKy 7 5J=J
K>K!/ U J6 U*r,
K6EV6=
/BK9V>= '6p A4Ap:MKy= %JI4J 9p/L/ 6p U J6 %JI4J J4JE
K=V/ 7JK=V96 6JO
O Ht$ 4'4X *G'0 *0 ,<(<Aoo
A;VE U J6 ;JK> 39J U J6
?rK;
7K/JV6= JK5 U*r, K6EV6= A4Ap B V/ 9J 3JK V/ 7JK=V96
6JO
O F0= =~Z E$ F Z!
=)7G)0 49=,=(,s 5 7<Aoo
7V/p
U=K'Kr T/ U*r, K6E6 BJ= U=K'Kr T/ 6JV; K* AGK9K59 AGv]J B V9
9G BJ= v]JEL 5J=J9JKB /J 9G
K* AJ5J=. AL>V;JB= 3JK V9 9G BJ=
%NKy =J= v]J9=
v]J9= :E 7 J= AlK 'q6 =J= K5 JV= =J!J= 9G
BvbJeb= =J= {;/J 3JK V9 9G BJ= 6JV; BJ ;J;>J K=V/ 7JK=V9 9J BJ=
K9=^V ;J;>J 4JVE= =J <J V9O
AK;K/A;PB U=K'Kr =. J 6
AV6=
6G
J 6 A;9JE AK;K/ 5pJV4?
AV6=
6G
5pJV4? 9G U JlJ6LA;PB J 6
U J6 U=K'Kr T/ U*r,
K6EV6= U{V 7V<J'p B V9 6J 9G y U J6 J V6= 5L6
U J6 U*r, K6EV6= U=K'Kr =. X95 B V9O
O .<=1G 0 *G` 48 2Z. < 0#Aoo U J6 ;JK>
39J ;JK> "V.=
U*r, K6E6 39J /JBJV4= 7V{ :J=7J U J6 9pKy
129
!
"
&
'
65
U J6 %J N=L %NKyV/ AGK? ?rK;V = U J6 U*r, K6EV6 U<J"4J6

=J 39J U J6 U*r,
K6EV6 BJ= A4Ap 74 %J>M =J!J=
K5 JV== 7= 9J5JAl2K>/ U J6 ?/q JV=J7 K=V96 6J
U J6 ?rK; U J6 U*r, K6EV6= A4Ap 9J ;q /qJ JV&6 39J
6VB6
'MBJV/ /JBJ= %J N=LV/ K6VEJK'/ K=V/ 39J
K6VEJK'/ =JK!V/ v2L J= K=V96 6J
6VB6
'MBJV/ /JBJ= %J N=LV/ K6<MKy 7V4J6gK/ %J N=L=
?/q9>L 39J JV'= ?/qJ9>L Al2V /JBJ= K9=^V U J6 W9@;p
K=V96 6J
B V/ %JVB6 39J 6p U J6 9pKyV y=R7 A4Ap 9J ;q /qJ
B EJ= '6p 7V=JK%/ V=6
J=V. 39J U J6 U*r, K6EV6=
"+6 J<q >J7
BJ= 7AJV= G?"B. V=6
J=V. /JBJV
%J N=L B V/ 9=!Jvb K,A%J'q 39J 7AJ=. =J <J V9 6J 9J BJ
=J= :E 74?q6 =J <J V9 6J 39J /JBJ= %J N=L= U J6 7 J=
{K/ =J= ;K U4 EJ <J V9 6J
U J6 ?rK; V 9J 6p U J6 9pKyV U J6 AMV<J" K4EJ 9J AMV<J"
U4 EJ= 7vbJ9 K=EJ 39J /JBJ= '6p AMV<J" AG"B K=EJ 39J
AG"B =J= 7vbJ9 K4EJ /JBJV U J6 U*r, K6EV6= A4Ap 9J
;q /qJ B V/ K9=/ =J!J= '6p 39J y 74 &JKCEJ U4 EJ= '6p
7>M K=V96 6J
:LK/ 74?q6 9> 7VEJ" %J7 7VEJ" ;K 74?q6 U J6 v]JV6
J* ?J=LK=
J#J/ 7JK6 ?Ky 9G U*K>V8J6 AMK95J K9K_&6g
K=EJ 39J 6p U J6 7e]J 9>l26 K=EJ U J6 U<Y3 4= @J K@
7K/K6K5 ;q /qJV U J6 %NKyV/ 76L/ B EJ= 39J
K6uK6J;JE 4vb!/ =J= '6p 9J5p K=V96 6J 9J 9J5p =J= U%J
K=V96 6J
5J=J
= 5L6 U J6 K69qJ%V6 BvbV{7 K=V96 6J 39J
U J6:JV9 BJ 7:JK9/ K=V96 6J
5J=J
= 5L6 U J6 5;q#* %>J JV> 39J X95 6VB =R7
U J6 5;q#* %>J JV> U J6 6P/6 ?rK; K6VEJ" K=V96 6J /V9
AJK>A <K4
;V;q Ae\ B6 U K/K6 7K/JV6= U< K9:JV" 9J
?J!JE 6M=R7 {K/ B 9J= AljJ96J JV& UA!JV6 ALK;/ AG!p
v]JEL ?rK; K6VEJ" K=V/ 6M;K/ K4V/ 7JK=V96
( G?"B. J=L K;K*= U J6 AM7JK=? 6M<JEL 9p9v]J "B. K=V/
_&J T/:JV9 9p3q B V96 6J
) U J6 K? K9V=J5 AlV q U<Y3 4= @J K@ 7rK/K6K5 /qS 74
U J6 7V= = K4V/ 9p3q B V96 6J
* 5J=J
= K95J6 :G" K=EJ U J6 U*r, K6EV6= A:J7K/
AJ5J=. AlJ4 AJG"+K6 AlJ4
39J U J@J5p{V 94>L
K=V96 6J 39J
+ U J6 U9 J 6L > J * =^ K=V96 6J 9J %J>M =JK!V96 6J 39J
BJV/ G?"BV.= '6p 6p U J6 9pKyV 7V=JK%/ K=V96 6JO
O 2Z=.G 0 *G` 48 2Z. < 0#Aoo ;JK>V = K96J 6M;K/V/ U J6
?rK; /JBJ= ;qA;VE U J6 U*r, K6EV6= ;q JV K6VEJK'/ 3JK V96 6JH
/V9 ?/q 3JV UJ7 JV>J%6J AJK>A ;5pv]/J 39J 6p U J6 J<q5J=J AlV q BE
9G ;JK> V /FAlV q <3JA;VE 9KB/ =J BEO
U J6 ?rK; 9J ?rK; "V.= U*r, K6E6 39J K6EV6= 7V{
:J=7J U J6 9pKy
U J6 ?rK; V U J6 U*r, K6EV6= A4Ap 9J ;q /qJ B EJ= '6p
39J 6J B EJ= '6p 39J y 7V4 9BJ> 3J J= '6p 39J BJ
B V/ K9=/ 3J J= '6p :LK/ 74?q6 K=V96 6J
! U J6 ?rK; V 9J 6p U J6 9pKyV U J6 AMV<J" K4EJ 9J AMV<J"
U4 EJ= 7vbJ9 K=EJ 39J /JBJ= '6p AMV<J" AG"B K=EJ 39J
AG"B =J= 7vbJ9 K4EJ /JBJV U J6 U*r, K6EV6= A4Ap 9J
;q /qJ B V/ K9=/ =J!J= '6p 39J y 74 &JKCEJ U4 EJ= '6p
7>M K=V96 6J
" :LK/ 74?q6 9> 7VEJ" %J7 7VEJ" ; L 74?q6 U J6 v]JV6
J* ?J=LK=
J#J/ 7JK6 ?Ky 9J U*K>V8J6 AMK95J K9K_&6g
K=EJ 39J 6p U J6 7e]J 9>l26 K=EJ U J6 ?rK; V U J6
131
U*r, K6EV6= /BK9V> %IJ4J 74J6 =J= '6p 9J 6J =J= '6p

9J5p K=V96 6J 9J 9J5p =J= U%J K=V96 6J
# :LK/ 74?q6 9> 7VEJ" %J7 7VEJ" ; L 74?q6 U J6 v]JV6
J* 9J BJ B V/ V_&4 U94!> BJ;>J ?J=LK= J#J/ 7JK6
?Ky 9J U*K>V8J6 AMK95J K9K_&6g K=EJ 39J 6p U J6 7e]J
9>l26 K=EJ ;JK> V U J6 K6uK 6J;JE 4vb!/ K=V/ 39J
U J6 4J9L "B. K=V/ 9J ;JK6EJ > V/ 9J5p K=V96 6J 9J 9J5p
=J= U%J K=V96 6J
$ U J6 U9 J 6L 5;q#* 39J K-V; /JV> J' ?M=^ K=V96 6J 9J %J>M
=JK!V96 6J 39J BJV/ G?"BV.= '6p 6p U J6 9pKyV
7V=JK%/ K=V96 6J 39J
% U J6 U*r, K6EV6= U J6 4J9L 39J BJ= U J6 >{p 'qV6=
VV?p U J6 U#=J
7K=9B6 39J U<J"JV<J" 9p9v]JE
7K/9 /J ASK 39J U J6 AlK= 5hGA AJ56 K=V96 6JO
U J6 U*r, K6E6 BJ= ;q /qJ 9J BJ= 7V{ K6<My 6p U J6
9pKy= ;J5pV; X95 7:J9 :LK/ 74?q6 K;3pJ 7K=%E 39J #M@
J=J 5J=J
= 5L6 6MK/ U J6 K69qJ%V6 BvbV{7 K=V>
BJ y U*r, K6EV6= 7V{ AF ?r; J%=. B V9O
O 36/GPe0 < G)0 4>=.$ *rG7< Aoo U J6 U*r, K6E6 5J=J
K>K!/ BJ= "+6/Ve= U J6 >{p BJK&V>= VV?p AlJK4/ BJ=
A4Ap"V.= ;V5p U J6 %NKy= '6p BJ= 9J U J6 U<Y3 4= J@J K@ 7K/K6K5= U J6
A4Ap 9J ;q /qJ 4K9K5 J 6
AV6=
6G J 6 = 5J=J
!
= 5L6 ?JKvbV<J"p B V96 6J <K4 6J %NKyK* U J6 7=J5 K=9J=
'6p BE 39J 6p U J6:JV9 BJ
5pJVE= K95J6 9p/L/ 6p U J6 J 6
9J K95J6 : V=O
O =$*7 F`Gm F' 7<)> F.< n.< 5 G$ ,X<5=$Aoo
U J6 U*r,
K6E6 9J U<Y3 4= @J K@ 7K/K6K5 39J BJ= U J6 ;q /qJ 9J A4VAp=
K9=^V U*r, K6E6K* 'KC/ JV& =R7 U J6 K? K9V=JV5= 7K= 6J 9J >{p
BJK&V>= VV?p "SBL/ U J6 J' 9J 9p9v]J= '6p U 9> ;J K6;gK>K!/ U J6
J=V. U J6 U4 EJ6L J4J>V/ U J6 U;J ;J 39J 6p J 6"/ J<q5J=J
%K>V9 6J <3JH
y=R7 J' 9J 9p9v]J U J6 %J N=L %NKy : K=9J= '6p U J6
9pKyV FAJKB/ V=
66
132
y "SBL/ ;q 9J 9p9v]J 6p U J6 9pKy= 9p9AJ 9JK.'p 9J

%J N=LV/ BvbV{7 V= 39J
" y=R7 U J6 J' 9J 9p9v]J U J6 9pKy= 7PIK' 9J ?r; /JBJ=
_&J6M<JEL 7VEJ" = K5 J= !9q V=O
U J6 U*r, K6EV6= 7K/K6K5 /Tq U J6 K? K9V=JV5= V?p 9J
7K= 6J BJK&V>= >V{p U J6 U4 EJ6L {K/;P> JV'= '6p y
U*r, K6E6 U J6 U4 EJ6L J4J>V/= U J6 ;J;>JE 9J 6pJ6p
J 6"/ J<q5J=JE 4JEL B V9 6J <K4 BJ 7;J. =J <JE U< y
7K/K6K5 U*r, K6EV6= J<qK69qJBL K;K*= V"J%V= 39J BJ=
v K6V4qV?= K97=LV/ y=R7 J' K=EJV&6O
O @=^0 </Y 0> 0# F/< X$<Aoo 6p U J6 J V6 <JBJ K &M 3J N 6J
U 6 U J6 U*r, K6EV6= A4Ap"V.= ;V5p AlJK4/ U J6 %NKy U 9> ;J
J=V. 9JK/> 9J 9JK/>V<J"p B V9 6J U< BJ= U J6 >{p U J6 9p9AJ 9JK.V'p=
'6p 9J5J H
/V9 ?/q 3JV U<
5J=J= K &M U J6 U4 EJ6L J4J>/V =R7 U J6
J 6"/ J<q5J=J "BV.= '6p A;3q K=V9 6J <JBJ U J6 U*r, K6EV6= U J6
A4Ap /JBJV4= U J6 4r9p AJ;"L K9Kz K=V96 K K=V96 6J 9p9AJ %J>J V96
K %J>J V96 6J 39J U J6 J' K=V96 K
K=V96 6J 39J U J6 %J N=L
K=V96 K K=V96 6J
AlV q AlJK4/ U J6 %NKy 9Jvb9JEV6= '6p 39J
BJ :V= J=V. {K/7P=V.= '6p 4JVE= =J BEO
O F Z! =)7) F+!<G02G)0 F0= =~Z 0#Aoo
5=V.= 9J
7 JV== K?V K6VEJK'/ 9J K? 7K=%J>6J=/ 7K/J6}K>V/ "K+/ 4M 9J
/V/JK5 U*r, K6E6 <K4 /JBJV4= AJ5J=. A:JE =R7 7vbJ9 "SBL/ BE
U8,JV=?V6= 4K>> AlJ46 K=EJ U J6 U8,JV=?6 "+6 K=V/ 9G BJ
U=K'Kr =V.= '6p 4=!Jvb K=V/ 7JK=V9 H
/V9 ?/q 3JV U< ?rK; "V.= U J6 U*r, K6E6 ;JK> "V.= U J6 U*r,
K6E6 U8,JV=?V6 9G ;JK> "V.= U J6 U*r, K6E6 ?rK; "V.= U J6 U*r,
K6E6 U8,JV=?V6 U<J"4J6 K=V9 6JO
7 5J=J
K>K!/ U8,JV=?V6= 4K>V> 6pJ6p K9@VE=
;V5p U8,JV=?6:My U*r, K6E6}K> /qS
6MA=.LE J<qz;
9G U8,JV=?6 U8,JV=?6:My U*r, K6E6}K>= K5 J=
4JKE/i Al2V K95J6 3JK V9O
U J6 U*r,
K6E6 U8,JV=?V6= U=K'Kr =V.= '6p U7? T/
133
4=!JVvb U8,JV=?6:My A > U*r, K6EV6= A:J7K/ AJ5J=.

AlJ4 ". 4vb!/ K=V96 9G BJ= AKB/ 7 5J=J
K>K!/ U8,JV=?V6= 4K>V>= K/6K* K7 AG<My 3JK V9O
5J=J= K95J6 AJV7V{
5pJVE= K95J6}K> U*r, K6EV6=
U{V U<=R7 7V<J'p BE U J6 U8,JV=?V6= U{V UA=R7 7V<J'p
B V9O
5J=J= 7V=Jy 75J=JA;PVB <JBJ K &M 3J N 6J U 6
JK5 K?V= U{V U=K'Kr T/ 6Mp6 K9?K* U*r,
K6E6
AKloK>/:JV9 39J AKloK>/ B EJ
K* 'J/LE K:K U*r,
K6E6 U8,JV=?6 "+6 K=V/ 7JK=V9O
O =,,0#>Aoo
U J6 GV='L 7K J 9FA= U?@ B EJ= 7= 7=9/qL
9FA=
U? K7> = ;V5p y 9FA= AGzJeb U J6 U*r, K6EV6= JE
9pVE= 9G Al4 4JVE= KBAJ9 Al2K>/
K* AJ5J=. K99=.L K9K5 J=J
K65qJK=/ 7K/V/ 7v\/ K6=L{. =J EJ ?r; 7K=%J>V = K6 * U7=. K=V/
B V9O
y=R7 AJ5J=. K99=.L U< 9FAV== '6p U7r=. =J B V9 UA
9FAV== U*r, K6EV6= ;q /qJV4= A > 7K=9/q6 74?q6 K=EJ
K* K99=. 9G A9qV?@ AGV?J56L Al2K>/ BJ= "+6/Ve= K*
K7 y AJ5J=. K99=.L= AV ?r; 7K=%J>V = K6 * U7=. K=V/
B V9O
<K4 U J6 U=K'Kr T/ U*r, K6E6 7 5J=J
K>K!/
A;EAL;J= ;V5p y=R7 AJ5J=. K99=.L U7=V. 9p3q BE /JBJ
B V> ?r; 7K=%J>
K* U6JK*? J=J /FAlV q BJV
9KB/
K=V96 9G y=R7 U6JK*? 7JK= K? K4V6= ;V5p <K4 U*r,
K6E6K* BJ= AJ5J=. K99=.L U7=. K=V/ 7M6=JE 9p3q BE /JBJ
B V> BJ= U=K'Kr 9JK/>V<J"p B V9O
<K4 U J6 U*r, K6E6 U J6 U8,JV=?V6= A4Ap BE /JBJ B V>
y AJ5J=. K99=.LV/ y U8,JV=?6K*= 6J; K>K79 K=V/
B V9O
O F/I& '0 3< =3 *r=$=)=(Aoo U< U{V U J6 7K/JV6 K* ;J
U*r, K6E6 3JV UA U{V y 7K/JV6= '6p BJ U<Y3 4= @J K@ 7K/K6K5
9K>EJ ".p B V9O
U< U{V U J6 7K/JV6 JK5 U*r, K6E6 3JV UAV{V U J6
67
134
U*r,
K6E6 39J ;JK>
/4 VV?p 4=!Jvb K=V> ?r;
7K=%J> 4=!Jvb 7JK=
?/ K9? K4V6= ;V5p 7K/JV6 U J6
U*r, K6E6 U<Y3 4= @J K@ 7K/K6K5 B V9 BJ K65qJ=V.= '6p
U"J76 U:JV*= 9p9v]J K=V96O
7 5J=J
= 5L6 U J6 4=!Jvb 7JK= 7= ?r; 7K=%J>
K>K!/ U6JK*? J=J AGK? 7K/JV6= A > U*r,
K6E6V
U6JK*V? K>K!/ A;VE= ;V5p <JBJ 76= K4V6= K5 B V9 6J
BJ= U"J76 9pJ>V* 7K/Kf/J K=V9 K 6J BJ 'J6J 9J= '6p
K6V4q? K4V96O
<K4 U J6 U*r, K6E6 7 5J=J
= 5L6 74 U6JK*V?=
K>K!/ A;EAL;J= ;V5p U"J76 9pJ>V* BJ= 7K/Kf/J AlV q
?r; 7K=%J> V K &M 'J6J V/ 9p3q BE /JBJ B V> BJ y
9pJ>V* 7K/Kf/J K=V9 6J 9K>EJ 9MK(V/ B V9O
<K4 U6JK*V? K>K!/ A;EAL;J= ;V5p U J6 U*r, K6E6 U"J76
9pJ>V* BJ= 7K/Kf/J AlV q ?r; 7K=%J> V K &M 6J 'J6JE
/JBJ B V> U< U*r, K6E6 7 5J=J
= 5L6 4=!Jvb
K=EJV& BJV
y 7K/JV6 U<Y3 4= @J K@ 7K/K6K5 KBAJV9
U#[email protected] =J B V9 <K4 7K/JV6 K6<My ?rK; "V.= U;J* AG!pJ=
6Mp6
/T/LEJG? ?rK; BJ= A4Ap 3JV O
?r; 7K=%J> /Tq 6MV=J B V> 7V/p ;JK> /JBJ= 7K/JV6
94>L AJ;KE ?rK; 9p/L/ 6Mp6 K/6 ;JA <J9/ K6<My JV&6
;6 A > ?rK;V = K* /JK> J /JBJ= K6 * U7=. K=V96 9G
y /JK> JE K6;gK>K!/ /3p AK6gV9K?/ 3JK V9 <3JH
7V/p ?rK;V = 6J;
/JBJ= K7/J ;J/J= 6J; 9EA
7V<J'p U{V v2J;L vL= 6J; K4V/ BV9
/JBJ= ?J!J 9J K9:JV"= 6J;
/JBJ= ;qv]V>= 6J;
/JBJ= K*V * 6l2= 9G K6VEJV"= /JK=!O
?r; 7K=%J> /Tq 6MV=J B V> 7V/p ;JK> 7 5J=J
K>K!/ /JK> J= 7VEJ'6LE AG!p
K/K=y K7 A=9=JB
K=V96 9G y=R7 A=9=JB T/ /JK> J= A/p/J <IJ%J K=9J=
'6p 7VEJ'6LE AMV<J" AMK95J= 9p9v]J K=V96O
135
;JK>V = K6 * B V/ ?rK; "V.= /JK> J 7rJK= 7= ?r; 7K=%J>

BJ=
K* K=EJ K7 7K/K/J J=L 7V/p U*r, K6EV6=
K6 * U7=. K=V96 9G K* K7 /JBJ= K8VA= U J6 7 J?p
v]JV6 >* J EJ K4V96 9G JV= K* K7 AGK? 7K/JV6= U J6
7 J?p v]JV6 >* J EJ K4V96 9G BJ= AKB/ K* U6JK*? J=J
BJV/ K65qJK=/ A;VE= ;V5p y /JK> J AlV q JBJ= U J6
J7K 3JK V> /JBJ /JBJ= K6 * U7? K=9J= '6p JB9J6
K=V96O
?r; 7K=%J> K65qJK=/ A;VE= ;V5p U J6 J7K 7J V> K/K6 /JBJ
7VEJ'6LE /4ebJVeb K6u6g K=V96O
?r; 7K=%J> 7 5J=J
= 5L6 /JBJ= 74 KAJeb U;J/JV9
;JK> /Tq A=9=JB T/ ?rK; "V.= /JK> J= 7VEJ'6LE AGV?J56
9J 7K=9/q6 K=V96O
7 5J=J
= 5L6 U J6 AGV?J56 39J 7K=9/qV6= 7=
39J U< U{V ?r; 7K=%J> K65qJK=/ A;VE= ;V5p U J6 J7K
7J6 6J UA U{V y A;E K/9JKB/ B EJ= 7= K/K6 AGK?
7K/JV6 K6<My ?rK; "V.= K* %PCJeb /JK> J 7v\/ K=V96 9G
BJ <3J<3:JV9 7/pE6 K=EJ BJ= K7 AGK? ;JK>
9G
7V/p 7K/K/J J=L U*r, K6EV6= K6 * U:J* "BV.= '6p
K65qJK=/ /JK=V!= eb/ AJ/ K46 7PV9q U7=. K=V96O
7 5J=J
= 5L6 7v\/ T/ 9G 7/pKE/ ?rK; "V.=
/JK> J U:J*J= /JK> J 9K>EJ ".p B V9 9G y /JK> JE U<
?rK;V = 6J; 3JK V9 K/K6 U<Y3 4= @J K@ 7K/K6K5 K65qJ=.L
K69qJ%V6 U:J* U4 EJ= K5 J=L B V96O
7V/p ;JK> ?r; 7K=%J>
/qS
6MV=J B V> K69qJ%6
7K=%J>6J= '6p 7VEJ'6LE A > AMV<J" AMK95J= 9p9v]J K=V96
K e\ K/K6 K69qJ%V6= 9pJ7JV= U J6=R7 BvbV{7 K=V96 6J 9J
U J6:JV9 /JBJ= 7:J9 !J*J V96 6JO
U:J* "B. U Vf4r= 7IE/JK>? K;*JV== ;V5p U J6 9pKy U:J*
7J3q6J K=V/ 7JK=V96 6JO
U<Y3 4= @J K@ 7K/K6K5 K65qJ=V.= '6p U"J76 U:J* "BV.=
VV?p ?r; 7K=%J>
U:J* "BV.= /JK=! K+
K=V96 9G BJ 7V/p 7K/L U*r,
68
136
K6E6V 9G 7V/p ;JK> V 9KB/ K=V96

! U:J* "BV.= '6p K6K4q /JK=V! 7V/p U:J* "B. U Vf4r U:J*
74JV6= '6p 9pJ>* 9J| v]J76 K=V96 9G BJ 7K/L U*r,
K6EV6= 7K/K6K5"V.= 7Kv]K/V/ <K4 3JV 6 AL> K=EJ
K4V96
" U:J* "B. U Vf4r U:J* "B. 7K=%J>6J K=V96 9G y U Vf4r
7K/L U*r, K6EV6= 7K/K6K5".V
7Kv]/ 3JK 9J= AMV<J"
K4V96
# U:J* "B. A;JK= 7= y 7K/K6K5". <K4 7Kv]/ 3JV 6 /JBJ
B V> /JBJV4= 7Kv]K/V/ 9pJ>* 9J| !MMK>V96 9G BJV/ 7J
U:J* ".6J K=V96 9G
$ U:J* ".6J U?V@ U< U*r, K6E6 AV9hqJ_% AG!p U:J* 7J B V9
BJV U<Y3 4= @J K@ 7K/K6K5 9K>EJ U#[email protected] K=V96O
U< U{V 7 5J=J
$ = 5L6 U J6 U*r, K6E6V U J6
7K/JV6= '6p U<Y3 4= @J K@ 7K/K6K5 9K>EJ U#[email protected] =J BE
UA U{V BJ y U#[email protected]= /JK=! B V/ 4M 9FAV== '6p y
7K/JV6 U<Y3 4= @J K@ 7K/K6K5 3JK V9 9G y A;VE= ;V5p
y 7K/JV6 U J6 6P/6 U<Y3 4= @J K@ 7K/K6K5 K65qJ=V.= '6p
U J6 4=!Jvb "B. =J B V9 6J H
/V9 ?/q 3JV U< 7K/J6 7MV= U{V U J6 U<Y3 4= @J K@
7K/K6K5= U;EJ4 B V9 K/6 9FA=O
7 5J=J
U/ <JBJ K &M 3J N 6J U 6 U< U{V U J6 U*r,
K6E6 U J6 7K/JV6 K94p;J6 U<Y3 4= @J K@ 7K/K6K5= U;EJ4
U?@ B 9J= 7= BJ= 7=9/qL U<Y3 4= @J K@ 7K/K6K5 B V/
J"BL 39J U< U{V K94p;J6 U J6 U<Y3 4= @J K@ 7K/K6K5
7=9/qL U;EJV4= '6p U<Y3 4= @J K@ 7K/K6K5 KBAJV9 3JK V/
J"BL UA U{V BJ K94p;J6 U<Y3 4= @J K@ 7K/K6K5= U;EJ4
U?@ B 9J= /JK=V!= 7PV9q
?/ K9? K46 B V/
?/ 7J?
K4V6= ;V5p ?r; 7K=%J>V = K6 * 7=9/Lq U<Y3 4= @J K@
7K/K6K5 K65qJ=V.= >V{p U"J76 U:J* "BV.= 9p9v]J =J= 6MV=J5
'J6J EJ 4=!Jvb U7? K=V/ 7JK=V9O
U< U{V 7 5J=J
= 5L6 U J6 4=!Jvb U7? =J BE UA
U{V 4=!Jvb 7JK= ?/ K9? K4V6= ;V5p y 7K/JV6 7=9/qL
137
U<Y3 4= @J K@ 7K/K6K5 K65qJ=V.= '6p U"J76 U:J* "B. K=V/

B V9 /V9 y K69qJ%V6= 8V> U#JK@/ 7=9/Lq U<Y3 4= @J K@
7K/K6K5 K94p;J6 U<Y3 4= @J K@ 7K/K6K5= U;EJ4 U?@ B 9J=
/JK=! B V/ AGK? 7K/JV6= 7=9/Lq U<Y3 4= @J K@ 7K/K6K5
B V9O
U< U{V 7 5J=J
= 5L6 U J6 4=!Jvb 7JK= 7= ?r;
7K=%J>V = K6Ee. hKB:Pq/ U J6 J=V. K94p;J6 U<Y3 4= @J K@
7K/K6K5= U;EJ4 U?@ B 9J= 7PV9q U J6 7K/JV6= '6p 7=9/Lq
U<Y3 4= @J K@ 7K/K6K5 K65qJ=. =J Alj9 6J BE UA U{V
K94p;J6 U<Y3 4= @J K@ 7rK/K6K5 6P/6 U<Y3 4= @J K@ 7K/K6K5
K65qJK=/ 6J B EJ 7<qeb y 7K/JV6 U<Y3 4= @J K@ 7K/K6K5
KBAJV9 J' %J>J EJ <J V9O
U< U{V 7 5J=J
= 5L6 U J6 4=!Jvb 7J EJ 6J <JE
UAV{V ?r; 7K=%J> K94p;J6 U<Y3 4= @J K@ 7K/K6K5= U;EJ4
U?@ B 9J= 7=
?/ K9? K4V6= ;V5p 6/N6 K69qJ%V6= /JK=!
U#[email protected] K=V96
9G K94p;J6 U<Y3 4= @J K@ 7K/K6K5
eb9q/Lq J>L6 A;VE AGK? 7K/JV6 U<Y3 4= @J K@ 7K/K6K5
KBAJV9 J' %J>J EJ <J V96O
U<Y3 4= @J K@ 7K/K6K5 K65qJ=.L K69Jq%V6 U J6 K9@E Al2V U J6
K9V=J5 U4!J K4V> BJ ?r; J4J>V/ U7? K=V/ B V9 9G
K9@VE y J4J>V/= KAJeb %PCJeb B V9O
<K4 U J6 U<Y3 4= @J K@ 7K/K6K5 K65qJ=.L K69qJ%V6 U J6 7K/L
U*r, K6E6 74 U;J* U:JV*= 4? ?/JGV?= ; U:J* 7JE /JBJ
B V> y U*r, K6EV6= U=K'Vr?6 v2/H 9JK/> B EJ <J V9O
U J6 U<Y3 4= @J K@ 7K/K6K5 BJ= 9v]JV6= BJK6 6J K=EJ
5pJVE= 5L6 U J6 J<q5J=JE <JBJV/ BJ K6V'
K* 7{ BJ
A4Ap JV& ;6 U J6 U8,JV=?6V 7{:My K=V/ 7JK=V9O
U J6 7K/JV6= U{V BJ= U<Y3 4= @J K@ 7K/K6K5
?K; V4= %J N=L 6J 3J J C6@9GG ;qBL6/J %J N=L= ?/qJ9>L
39J JV'= 7K=V9? Al2V ;JK>V = AGV" U<Y3 4= @J K@ =J=
! U 9J UpJ. 7K/JV6 39J :K9@p /BK9V> 9G 74? 5pJVE=

5L6 7K/K/ ?K; "V.= G?"B. /BK9V>= *rJK U9JV,q
?rK; "V.= 7K/K6K5 ;V6J6E6 =J= 9G
$
J V6= J /JE U J6
4>9 ?K;V = 7V{ ;J;>J
7K=%J>6J =J= K5 J=L B V9O
J V6= J /JE U#JK@/ U J6 7K/J67MV U<Y3 4= @J K@
7K/K6K5 K65qJ=. 39J K69qJ%V6= U{V
5J=J= K95J6J9>L
7V<J'p B V9O
O =$*7 F`Gm F Z! =)7) F+!<G02) F/I& '0 3< =3 *r=$=)=(
=54<G, <
=0G,Aoo
5pJVE <JBJ K &M 3J N 6J U 6 U J6 U*r,
K6E6 U8,JV=?6 U J6 7K/J6 9J 7K/J6 7MV= U<Y3 4= @J K@ 7K/K6K5
9K>EJ ".p B V9 <K4 y 7K/JV6 BJ= U J6 A4Ap U*r, K6E6 BJ= K69qJBL
K;K*= A:JE "SBL/ U J6 7vbJ9 J=J U8,JV=?6V y 7K/JV6 BJ= 7V{ U<Y3
4= @J K@ 7K/K6K5 KBAJV9 J' K=9J= '6p {;/J 74J6 V= H
/V9 ?/q 3JV U< y=R7 U J6 {;/J 74J6 6MV;J46V<J"p B V9 6J <K4
6J U8,JV=?V6= 9G A4Ap U*r, K6EV6= "+6/Ve y=R7 {;/J 74JV6=
K95J6 3JV O
U J6 U8,JV=?6 U 9> ;J UA 7K/J6 9J 7K/J6 7MV U<Y3
4= @J K@ 7K/K6K5 KBAJV9 J' K=V9 U< 7K/J6 9J 7K/J6
7MV BJ= U J6 A4Ap U*r, K6E6 U<Y3 4= @J K@ 7K/K6K5
KBAJV9 JV&O
5J=J= U J6 K &M 5J=J
= 5LV6 "K+/ 9G
U=K'Kr T/ U J6 'J/LE K:K U*r, K6E6 U8,JV=?V6= U{V
7V<J'p B V9 6JO
OF
+Aoo
U<Y3 4= @J K@ 7K/K6K5 6MV=J5 K=V> U /J= 7K/JV6 ;q=/ ?rK; "V.= <JBJ=J KAK9
K6EV6= A4Ap ;'M=L
B V/ KAK9
K6EV6= /BK9V> U4E /JBJV4= K6K4q 7K=;J. %JI4J
KAK9
K6E6 /qS U7? S/ K,;J U*V;f* = eb:Mqy 7K/K* ?rK;V = 6MV;J46
AJV7V{ JK*EJ J>J4J K=EJ =JK!V96O
U J6 ;JK> 7 5J=J
6MAJV= ?rK; "V.= ;'M=L B V/ *J J
JK*EJ 3JK V> K/q/ AlP.q *J J 7=9/Lq
76= K4V6= ;V5p
AGK? KAK9
K6EV6= KBAJV9 ';J K4V96O
7 5J=J
U;J/JV9 BJ= A4ApV4= ;'M=L B V/ *J J J*J
139
B V/V& K 6J AGK? KAK9 /JBJ <J%J K=V/ %JKBV> ;JK>

BJ= 7P.q AMV<J" 74J6 K=V96O
O 92 r5# <0> =.= Aoo
6Mp6 7J? '6 ?rK; AJ5J=./H ;q=/
JV&6 =R7 7V/p 7K/JV6= ;JK> K9K5 J=J K65qJK=/ 7e]JE /JBJ= 7K/JV6
K* G?"B. J=L K;K* "+6 K=V96O
y K;K* ;JK>
?rK; "V.= 7K/K6K5 A;e2VE "K+/ B V9O
y K;K*V/ ?rK; "V.= 7K/K6K5= AG!pJ ;JK>V = 7K/K6K5=
AG!pJ= ; B V9 6JO
?rK; "V.= 7K/K6K5 7K/JV6= U*r, K6E6A;PVB= ;V6J6EV6=
K:KV/ K6<My B V96O
AGK? 7K/JV6= U<Y3 4= @J K@ 7K/K6K5 9p/L/ 6p 7V/p
U*r,
K6E6 A;AG!p 7K/K6K5 ;V6J6L/ K=V9 9G U<Y3
4= @J K@ 7K/K6K5 ;6 AG!p 7K/K6K5 ;V6J6L/ K=V9 <JBJ
6p U*r,
K6E6A;PVB= U;J* ;V6J6L/ 7K/K6K5"V.= V7{J
'6 U9?L BEO
U< 7K/JV6 U J6 U*r, K6E6 6J UA 7K/JV6= G?"B. J=L
K;K*V/ ?rK; 7K/K6K5". BJV/ ;q=/ ?rK; "V.= ;5p B V/
K9K5 J=J K65qJK=/ 7e]JE ;V6J6L/ B V96O
U< U{V U J6 7K/JV6= 6Mp6 7J? '6 ?rK; K6<My JV&6
;6 U J6 K6* 3JV UA U{V G?"B. J=L K;K*= AM7JK=V?
BJ= '6p K9K5 J=J K65qJK=/ 7e]JE
K* K6* G?"B. J=L
K;K* "+6 =J <J V9O
y K6* G?"B. J=L K;K* ;JK> 9G y K6*
BJ=
5LV6 ;q=/ ?rK; "V.= 7K/K6K5 A;e2VE "K+/ B V9O
G?"B. J=L K;K*= U{V 7V<J'p
5J=J= K95J6J9>L
K6*
G?"B. J=L K;K*= U{V </4P= Alj9 7V<J'p B V9O
O 92 r5# <0> =.= 0 < Aoo
G?"B. J=L K;K*= J' B V9
75J6/H 7K/JV6= 7K/ ?rK; 9G ;JK> A V>= G"L:P/ B EJ= :J9 U7JK3/
7AJ= =J 9G 7K/JV6= 7K/ ?rK; "V.= L J= 4JKE/iV9J5 'J"/ =J
9G K9V?@ K=EJ
?rK;
;JK>V = ;V5p 7J=vK= Jv]J K9?nJA A;V(J/J 9G
ABV<J"L/J 9SK= 7V%J %J>JV6J
! ?r; J V6= 7VEJ" K6K/ =J
70
140
$?'Y2 (X<7
" ?SG!>JV9JV5 FAJKB/ =J K6=J7J U7?J"/ v2Jv]p ={J 9G

JV'= 9v]J= 6gK/ K95J6 AG={V.= 9p9v]J =J
# 9SK;P> 7K?{. ?rK; K?{J 9G 7K=9J= >pJ. 7K?{V.
FAJKB/ =J
$ ?rK;
9G /JBJV4= 7K=9J=9V"q= 7VEJ'6LE >pJ.;P>
9p9v]JA;PVB= 6gEV6= >V{p 9p9v]J "rB. =J 9G
% F7J46 >{p ;JJ 'q6 F7J46?L>/J 9SK F7J46 !=% BsJA
9G 7%E U=J5 =J 9G F7JK4/ 4rV9p= ;J6 6g/ =JO
U J6
K6* G?"B. J=L K;K* ;P> G?"B. J=L K;K*=
//iJ95JV6 7 5J=J
K>K!/ J<qJ9>L </4P= Alj9
AlJ46 K=V9O
O 92 r5# <0> =.= 0 4-<Aoo
5J=J
= 5L6 J<qJ9>L
AlJ4V6= '6p 7VEJ'6LE 9p9v]J= AM7JK=? =J /FAlV q JV>J%6J ;/
K9K6;VE= '6p G?"B. J=L K;K* 7K/ 4M ;JVA eb/
9J= A:JE K;K>/
B V9O
G?"B. J=L K;K*= 7V/p A:J= J<q K99=.L A:J 6MJV6=
AJ/ K4V6= ;V5p ?r; 7K=%J>
AJK>VA= K6 * U7=. K=V/
B V9O
O 92 r5# <0> =.= 0 4?*<=02 ,<\O,<7)Aoo
G?"B. J=L K;K*=
AMK6K4q AM7JK=?;J>J /F /qS K65qJK=/ A;VE= ;V5p 9Jvb9JEV6= '6p 7K/JV6=
;JK>
U*r, K6E6 7VEJ'6LE 9p9v]J "B. K=V96O
<K4 U J6 J=V. ;JK> 39J U*r, K6E6 K65qJK=/ A;VE= ;V5p
G?"B. J=L K;K*= AM7JK=?;J>J 9Jvb9JE6 K=V/ U J6 J=V.
AMK95J U9J5 V=6 /JBJ B V> /FAlV q K;K*V
9KB/
K=V/ B V9 9G BJ <3J?L#r Alj9 9Jvb9JEV6= '6p AljJ9p A >
7V%J "B. K=V/ B V9O
141
=,G0<( =)[=k 2Z. <'<1$ 2Z. <*>1

$X<='
Z< ,?X)<1
< ) $ </Y(<0<
O =2y =,G0<( l<*)Aoo U J6 K? K9V=J5 K94p;J6 JV& 9K>EJ ".p

B V9 6J <K4 6J BJ
5pJVE= K95J6 U;J/JV9 U J6 ;JK>
39J U<Y3
4= @J K@ 7K/K6K5 /qS JK7/ BEO
O =2y =,G0<( =)[=kAoo
<K4 U J6 A;VE U J6 ;JK> 9J U<Y3
4= @J K@ 7K/K6K5 U4K!V/ 7JE U< ;JK> 9G ?rK; "V.= ;V5p U J6 K9V=J5
K/ B 9J= Alj96J JV& /JBJ B V> y ;JK>
39J U<Y3 4= @J K@
7K/K6K5 /JBJ= 9J BJ= K:;/ 9py K=EJ 6p 7{V K>K!/:JV9 'J6J V96O
7 5J=J
= 5L6 7 7JK= 7V6= K4V6= ;V5p 7 7J7
6p7V{= AKB/ JV>J%6JzV; 7V JK7/ K9@VE J>J7
JV>J%6J= ;J5pV;
K* %NKyV/ 76L/ B EJ= >V{p U<Y3
4= @J K@ =^ K=9J= '6p /JBJ= AKB/
K* A:J= 9p9v]J
K=V96 9G =R7 A:J /4 VV?p {;/J7J :E 7V{=
7K/K6K5= ;V5p 6MK/ B V/ 7JK=V9O
<K4 7{". y=R7 JV>J%6J= 7= JV>JK%/ K9@VE= 7= U J6
K6uKV/ 76L/ B6 /JBJ B V> K* K6uK6J;J K>K!/ B V9
9G BJV/ 7{E 4vb!/ K=V96 9G BJ= K* K7 ;JK>
/qS A= J= ?r; 7K=%J> 9G AJK>VA= K6 * U7K=/ B V9O
<K4
7 5J=J
= 5L6 U7K=/ U J6 7V= 7J7 6p 7V{= AKB/
7 5J=J
K>K!/ A;VE= ;V5p A:J= 9p9v]J K=V/ 9p3q
B6 /JBJ B V> y 6p 7{ 39J
! :E 7V{= 7J=vK=
JV>J%6J= ;J5pV; K9V=J5 K6uK= '6p
6MK/ 73; A:J= /JK=! B V/
;JVA= ;V5p 39J :E
7V{= K>K!/ AloK/ 6M<JEL 9K5q/ A;VE= ;V5p U J6 K6uKV/
76L/ B EJ 6J <JE /JBJ B V> UK!/
A;EAL;J U?@ B 9J= 7= 76= K4V6= ;V5p /FAlV q 7 5J=J
K>K!/ 7<My AJK>AV
CB7=@=5HCF 9KB/ K=V/
7JK=V96 9G K9V=J5K* AJK>AL=
CB7=@=5H=CB ;J5pV;
71
142
(Arbitrator) K6 * U7=. K=V/ =J'L B6 /JBJ B V> /JBJV4=

A V>= v2L T/ U J6 ;5pv]/J J=L= (Arbitrator) K6 * K9V=J5K*
K6uK= '6p U<Y3 6MV=J57 U7=. K=V96O
7 5J=J
U/ K>K!/ ;5pv]/J J=L (Arbitrator) A= J=
/qS
/4 VV?p 7v\/ T/ ;5pv]/J J=L= /JK> J B V/ U J6
9pKy B V/ 7JK=V96 39J 7{". /Tq v2L T/ 6p UK!/:JV9 v2L T/ U J6 9K5q/ A;VE=
;V5p /JBJ= U=JVE4J4 74J6 K=V96O
;5pv]/J J=L (Arbitrator) /JBJ= U=JVE4J4 7r4JV6= 7= BJ=
K* K7 7{".V
9G JV= K* K7 A= JV== K6 * U7=.
K=V96O
;5pv]/J J=L (Arbitrator) /qS 74 U=JVE4J4 %PCJeb B V9
9G BJ= K9=^V U J6 J7L> %K>V9 6JO
;5pv]/J J=L (Arbitrator) /Tq K65JqK=/ 6K5 4M 9FA=
7<qeb U J6 U=JVE4J4 W95 3JK V9O
?r; 7K=%J> U J6 K9V=J5 K6uK= v2JV3q 7<My ;V6 K=V> UA (Conciliator) = K6 * B V/ U J6
AJK>AL J<qz; (Conciliation) +J EJ JK6EJ K6V' BJ
%J>J EJ <J V/ 7JK=V96 39J 6p U J6 AJK>A (Conciliator)
= K6 * BJ BvbJeb= K=V/ 7JK=V96 9G V{V
5J=J=
6pJ6p K95J6J9>L 7V<J'p B V9O
5J=JE <JBJ K &M 3J N 6J U 6 U J6 7K/J67M AlV q
U J6 ;JK> "V.= U*r, K6E6 39J U*r, K6E6 U8,JV=?6
U=K'Kr =J B EJV& UA 7K/J67MV= U<Y3 4= @J K@ 7K/K6K5
K? K9V=J5 AlV q y ;JK> "V.= U*r,
K6E6 39J
U8,JV=?V6= AKB/ U<J"JV<J" K=V9 9G y=R7 ;JK> "V.=
U*r,
K6E6 39J U8,JV=?V6= AGV" AlJK4/ K? K9V=J5
K6uK AGzJeb U J6 %NKy AGK? 7K/J67MV= A > ;JK>
?rK; "V.= 7= 9?p 7J>6LE B V9O
O (.Y
1 < Aoo U< 7{ U J6 K? K9V=J5 J76 V= UA
7{ 5J=J
= 5L6 9p3q/J= 7/pE67 7JK= /JK=! B V/ 76= K4V6=
K6uK =J= '6p /JBJV K>K!/:JV9 6MV=J5 K=V/ 7JK=V96O

5pJVE= VV?p A= J= A= J=L U"V'V* 7J76 J=J
BJV/ K>K!/ U J6 K6K4q >J J 39J U J6 K6K4q 7K/J6
9J K?V= '6p 7VEJ'6LE AG!p AJK>A CB7=@=5HCF K6<My
K=V9 9G 7 5J=J
= 5L6 AJK>AL= CB7=@=5H=CB
'6p U J6 6MV=J5
7 5J=J= 5L6 AGK? >J J 9J 7K/J6
9J K?V= '6p K6<My AJK>A CB7=@=5HCF "B. K=V96O
y=R7 6MV=J5 7J B 9J= 4? K4V6= ;V5p AJK>A
CB7=@=5HCF /JBJ= AJK>AL J<qz; CB7=@=5H=CB =^
K=V96 9G K9V=J5 K6uK= '6p :E 7V{= A:J JB9J6
K=V96O
K9V=JV5= 7{". v2EG 39J /JBJV4= ;V6J6L/ 9G :E 7V{=
;V5p 9?p 7J>6LE %NKy AlJ46 K=V/ {;/J7J 7K/K6K5=
;J5pV; AJK>A (Conciliator) = K6 * /F /qS K65qJK=/
/JK=V! A;VE BJK'= B V96O
<K4 AJK>AL= (Conciliation) 8V> K9V=J5 K6uK BE /JBJ
B V> AJK>A (Conciliator) /FAlV q A= JV== K6 *
K*
K=V7J*q U7? K=V96 9G BJ= AKB/ :E 7{ /qS v2J{K=/
K6uK6J;J= K* K7 U7K=/ B V9O
<K4 AJK>A (Conciliator) /Tq K9V=J5 K6uK= '6p 6MV=J5
7JK= K? K4V6= ;V5p K9V=J5K* K6uK 6J BE /JBJ B V> AJK>AL
J<qz; (Conciliation) 9p3q B V9 39J :E 7V{= K>K!/
AloK/zV; JV=J K5 A;E %J>JV6J <J V9O
<K4 AJK>AL J<qz; (Conciliation) 9p3q BE /JBJ B V> AJK>A
(Conciliator) :E 7{V K9V=J5K* K6uK= >V{p BJ U J6
;5pv]/J J=L (Arbitrator) = K6 * U7=. K=9J= '6p =J'L
=J V/ U%J K=V96O
<K4 7{". K9V=J5K* K6uK= '6p U J6 ;5pv]/J J=L=
(Arbitrator) K6 * U7=V. =J'L 6J B6 /JBJ B V> AJK>A
CB7=@=5HCF AJK>AL J<qz; (Conciliation) 9p3q B EJ=
K/6 K4V6= ;V5p BJ 9p3q B EJV&
;V;q
K* 7/pE67
7{".V 74J6 K=V96O
<K4 7{". K9V=J5K* K6uK= '6p U J6 ;5pv]/J J=L=
143
72
144
;V5p 6p 7{V 5;q#* 39J U{;/ >

J V*= U6JK*? 74J6 K=V/
7JK=V9 <JBJV/ U6JK*? 74JV6= 7= 6Mp6 AJ/ K46 9G 6K5 U%Y K4V6= ;V5p
U J6 /JK=! B V/ BJ =^ B V9 BJ= V>! 3JK V9 39J y K9V=J5
J76 J=L 7{ K9V=J5K* K6uK= '6p ?r; J4J>V/ 4=!Jvb K=V/ 7JK=V9 H
/V9 ?/q 3JV UVA= //iJ95JV6
/4 VV?p K9V?@:JV9 6MK/ U J6 U"J76 U:JV*= ;J5pV; BJ= U;J* A4Ap
AG!pJ= 6Mp6 K/6 %/N3qJG? A4Ap 5;q#V*= 7V{ /JBJV4= =JE 7r4J6 V=6O
<K4 U J6 5;q#* 9J > J * =^ B EJ <JE /JBJ B V> K9V=J5K*
K6uK= '6p K9V=JV5 'KC/ UV/ 4=!Jvb
U7? K=V/ 7JK=V9O
<K4 U J6 5;q#* 9J > J * K? K4V6= U9?L v]JEL BE /JBJ
B V> A= J= K>K!/ JV4? J=J BJ K6K@ K=V/ 7JK=V9H
/V9 ?/q 3JV U< A= J= y K? K4V6= 7PV9q UK!/ JV4? J=J U J6 5;q#* 9J > J * K6K@ U#[email protected] K=V/
7JK=V9 <K4 A= J=
;V;q AebM BE U< y=R7 9pJB/ 5;q#*
9J > J * '6'L9V6 AJG#JK/ V= J=. B EJV& 39J BJ
'J/LE v2JV3q= BJK6 =O
U J6 '6 >pJ.;P> 7K/JV6= U{V A= J= BJV/ U J6 5;q#*
9J > J * =^ B 9J= 7PV9q 39J 7V= UK!/
JV4? J=J BJ K6K@ U#[email protected] K=V/ 7JK=V9O
U J6 U{V A= J= 7 5J=J
39J
= 5L6 U J6 5;q#*
9J > J * K6K@ U#[email protected] K=V> A= J= /F{.JF K9V=J5K*
K6uK= '6p ?r; J4J>V/ U7=. K=V9O
?r; J4J>/ K9V=JV5= :E 7{V 6J6L= AMV<J" K4EJ <3J?L#
Alj9 K9V=J5K* BJ= K6 * U7=V.= /JK=! B V/ 6K5 @J* K4V6=
;V5p K6uK K=EJ BJ= U=JVE4J4 74J6 K=V9 H
/V9 ?/q 3JV U< ?r; J4J>/ 7VEJ'6V9JV5 K9V=J5LE U J6 K9@VE
eb9q/Lq U=JVE4J4 74J6 K=V/ 7JK=V9 H
JV=J ?/q 3JV U< U=JVE4J4 74JV6 U J6 K9>Vl2= J=V.
U=JVE4J4 X95 B V9 6JO
?r; J4J>V/= U J6 U=JVE4J4 /F /qS K65qJK=/ A;EAL;J <JBJ
4M 9FAV== K5 B V9 6J 7<qeb 9>9F 3JK V9O
145
<K4 U J6 7K/J6 6P/6 v]JK7/ BE 39J K9V4?L ;JK> J6J5L6 BE

39J K9V4?L ABV<JK"/JE v]JK7/ BE /JBJ B V> y=R7 7K/JV6
F7J46 =^ B EJ= 7=9/qL K/6 9FA= 7<qeb 5;q#* K G9J >
J * K6K@ 3JK V9O
/V9 y=R7 7K/JV6 K/ U J6 K? K9V=J5 K6uK= U{V
5pJVE 9K.q/ 6pJ6p K95J6 7V<J'p B V9O
O =2y =,G0<G(0 `<=POAoo
5J=J
= 5L6 U J6 K? K9V=J5
J76 J=L 7{ <K4
5J=J
= 5L6 BJV/ K65qJK=/ A;VE= ;V5p K9V=J5K*
AJK>AL= ;J5pV; K6uK= '6p U J6 AJK>VA= K6 * 6MV=J5 K=V/
9p3q BE 39J
! 5J=J
= 5L6 'J=L T/ U6JK*V? K>K!/ K6K4q A;VE
5;q#* 9J > J * =^ K=V/ 9p3q BE 39J
" 5J=J
= 5L6 K65qJK=/ A;VE= ;V5p K9V=J5K* K6uK=
'6p ?r; J4J>V/ U7=. K=V/ 39J 5;q#* 9J > J V*=
U6JK*? 'J=L K=V/ 9p3q BE
/JBJ B V> K? K9V=J5K* y=R7 K65qJK=/ A;E 9J /JK=V!= 7=
{Jeb B EJ <J V9O
U< U{V 7 5J=J
= 5L6 U J6 K? K9V=J5 {Jeb B EJ <JE
UA U{V y {JKeb= /JK=! B V/
9FAV== ;V5p
K9@VE=
7= U J6 6P/6 K9V=J5 J76 =J <J V9 6JO
O 2Z. <'<1G$ '0 <\OAoo U J6 U<Y3 4= @J K@ 7K/K6K5 39J U J6
;JK> 39J U J6 ?rK;
J 6 9J U J6 U=JVE4J4 9J U J6 K6uK 9J %NKy=
5L6 9J J=J K6K/ 9J 74 U J6 K5 J= 7VEJV"= '6p ?r; J4J>V/ 4=!Jvb
K=V/ 7JK=V96O
O 2Z. <'<1$Aoo
J V6= VV?p A= J= A= J=L U"V'V*
7rJ76 J=J 7VEJ'6LE AG!p ?r; J4J>/ v]J76 K=V/ 7JK=V9O
7 5J=J
= 5L6
JK5 ?r; J4J>/ 7K/K/ B V>
A= J= y 7J7V6 BJV4= 7V/pV U< >J JE
J V6=
5L6 !K/EJ= 7rVEJ" K=V9 BJ K65qJ=. K=EJ K4V9O
?r; J4J>/ '6 U%EJ=;pJ6 9G /JBJV 7=J;?q U4 EJ= '6p
4M '6 A4Ap A;e2VE "K+/ B V9 /V9 U J6 7=JV5= K9%J= 39J
4?; 9G J4? 5pJVE= 5L6 U J6 K9@E K6uK= U{V BJ
73
146
U 9> ;J U%EJ=;pJ6 A;e2VE "K+/ B V9O

?r; J4J>V/= U%EJ=;pJ6 A= J= /qS
;q=/ U'>J '' 39J
K/K=y U'>J ''"V.= ;5p B V/ K6<My B V96O
?r; J4J>V/= U%EJ=;pJ6 9G A4Ap"V.= K6<MKy= ?/qJ9>L A= J=
/Tq K65qJK=/ B V9O
?r; J4J>V/= 4M '6 A4VAp= ;V5p
'6 ;JK> "V.=
7K/K6K5/i J=L 9G 7='6 ?rK; "V.= 7K/K6K5/i J=L B V96
9G /JBJ=J 7 5J=J
9K.q/ 7e]JE K6<My B V96O
A= J= K9K5 J=J K65qJK=/ 7e]JE A= J=L U"V'V* 7J76 J=J
4M K* A4Ap /JK> J 7vbM/ K=V9 <JBJ=
K*V/ &E'6 ;JK>
7K/K6K5= 6J; 9G 7=K*V/ &E'6 ?rK; 7K/K6K5= 6J; 3JK V9O
7 5J=J
= 5L6 7v\/ T/ A4Ap /JK> J 7K/ 4M 9FA=
eb= 7M6"qK+/ B V9 /V9 y 4M 9FA= U?@ B EJ AVi 7P9q9/qL
/JK> J= eb:Mqy A4Ap". 6P/6 /JK> J A= J=L U"V'V* 7JK7/
6J B EJ 7<qeb /JK> J:My 3JK V96O
?r; J4J>V/= U%EJ=;pJ6 U J6 K6K4q K? K9V=JV5= 6J6L 9J
K6uK= '6p 7 5J=J
K>K!/ :E /JK> J B V/
'6 K=EJ 7K/K6K5V K69qJ%6 K=V96 9G y=R7 K69qJK%/
7K/K6K5E 9G U%EJ=;pJ6 AB JV= y K? K9V=J5 AlV q ?r;
J4J>/ "K+/ B EJV& 9K>EJ ".p B V9 H
/V9 ?/q 3JV U< K? K9V=J5 AGzJeb
JK5 ;J;>J= 6J6L=
'6p U%EJ=;pJ6 y U J B V/ UV/= A4Ap KBAJV9 K69qJK%/ K=V/ 7JK=V96O
U J6 ?r; J4J>/ K6;gK>K!/ K9@VE 66p !K/EJV== K5 J=L
B V9 <3J H
J V6= 5L6 J6L/ U7? T/ 39J 4JVE= T/ U J6 K?
K9V=J5 39J 6p U J6 K9V=J5 39J U J6 7V?g= K9%J= K6uK
! A= J= /Tq U7? T/ U J6 K6uK :G" 39J 9Jvb9JE6 AvK q/
U J6 K9@VE= 6MAJ6 K;;JGAJ K6uK
"
J V6= 5L6 7=J5A;PVB= K9%J= 9G
#
J 6 39J 6p U J6 J V6= 5L6 9J J=J 74 9J 7V4E
6p U J6 {;/J 7VEJ" 39J J<q AlJ46O
<K4 ?r; J4J>V/= U J6 A4Ap J4J>V/= U J6 6J6L= /JK=V!
147
6M7Kv]/ 3JV 6 39J U J6 J=V. BJK'= B V/ 7J=" B6

y=R7 6M7Kv]K/ 9J 7J="/J U J6 ;J;>J= 6J6L= =^V/ B
39J BJ %>J JV> B
/JBJ B V> J4J>V/= J<q5J=J /JBJ=
6M7Kv]K/V/ =^ =J <J V9 39J U{;/ %J>J EJ <J EJ
<J V9 9G /JBJ= 6M7Kv]K/V/ J4J>V/= KAJeb 9J U=JVE4J4
74J6 =J <J V9 9G ?r; J4J>V/= U J6 J' J<q5J=J KAJeb
39J U=JVE4J4 U 9>;J y=R7 6M7Kv]K/= J=V. 39J ?r;
J4J>V/= U J6 ?P6p/J= J=V. 39J ?r; J4J>/ "+V6 U J6
zK*= J=V. X95 B V9 6J 9J BJ= K9=^V U J6 J4J>V/ U J6
7?g J76 =J <J V9 6J H
/V9 ?/q 3JV U< <K4 J4J>V/= U J6 A4Ap U J6 K6K4q ;J;>JE
6M7Kv]K/= 3J U%EJ=;pJ6V 7PV9q
9KB/ V=6 UA U{V
U%EJ=;pJ6 AGK? 7V{= /JK> J B V/ 6p
'6 A4ApV
;V6J6L/ K=V96 H
JV=J ?/q 3JV UJ= =JVE :E 7V{= A4ApV4=
;/J;/ 9?p V>! K=V/ B V9O
U8Y'4J=L J<qK9K5 = 7IEK?/; 5pJVE= K95J6J9>L ?r;
J4J>V/= U{V 7V<J'p B V9 9G y 5pJVE= VV?p ?r;
J4J>/ K* U4 EJ6L J4J>/ 9K>EJ ".p B V9O
A > ?r; J4J>/ *rJ 9Mp6JV>= 5Hvb6 J4J>/ B V9O
O *0<( =, <G00 F`Gm 2Z. <'<1G$0 `.$<
</Y_.Aoo
J V6= K95J6 AJV7V{ ?r; J4J>/ 7=J5 K9%J= JV> </4P= Alj9 U8Y'4J=L
J<qK9K5V/ 9K.q/ AGK{ K9%J= 7K/ 6MA=. K=V9O
J V6= 5L6 7=J5 K9%JV== VV?p U8Y'4J=L J<qK9K5=
5L6 73; U?r.L= ;pJK'VrV*= 7= 6pvb A > {;/J ?r;
J4J>V/= 3JK V9O
7 5J=J
<JBJ K &M 3J N 6J U 6 ?JKvb 74JV6= VV?p
y J<qK9K5= 5L6 UA?6 J4J>V/= 7= 6pvb A > {;/J ?r;
J4J>V/= 3JK V9O
?r; J4J>/ U J6 7=JV5= K9%J= JV> J4J>V/= A4Ap". &JCJ
K9%J= J<q 7K=%J>6J K=V9O
74
148
O *0<( =, <0 <6< )X F <) =,3G7 2Z. <'<1G$0 `.$<

</Y_.Aoo
7=J5 9p/L/
J V6= 5L6 6p U J6 K9@E 7?g 9J
K9V=JV5= K9%J= K6uK= VV?p ?r; J4J>/ K* U4 EJ6L J4J>/ 9K>EJ
".p B V9 9G U4 EJ6L J<qK9K5= 5L6 U4 EJ6L J4J>V/= 7= 6pvb A >
{;/J K6;g9K.q/ {;/JAB ?r; J4J>V/= 3JK V9 <3J H
U J6 9pKy= 7Kv]K/ 9G /JBJV ?73J5L6 '9J69f4L 9G AJ{p
74JV6 9J5p =J
! U J6 4K>> 9J 9v\ BJK'= K=V/ 9J5p =J
" AJ{p "BV.= '6p 39J 4K>> 7=L{J= '6p K;?6 U7=. =J
# U J6 7V{= J4J>V/ 6M7Kv]K/= U{V ;J;>JE /=8J KAJeb
74J6 =J
$
/=8J KAJeb 9JK/> =J
% U J6 7V{= 6M7Kv]K/= J=V. 74 ;J;>J !JK=V'= JV4? 9JK/>
=J
& ;J;>J= V?p 9pJB/ U=J5 =J= >V{p ?r; J4J>/ UL6 JV4? 'J=L K=V/ 7JK=V9O
J 6 AJV7V{ U J6 ?r; J4J>V/ U J6 4=!Jvb 9J 4K>> U7?
=J 74?q6 =J 39J K>K79 =J= '6p 39J BJ B V/ U J6
4K>> U6 EJ= '6p U J6 U J*q K8A 74J6 K=V/ B V9 6JO
?r; J4J>/ 'J=L J= 39J K9V?@ 9JB ;J=8/ 39J U=K'Kr
,J V<JV" 39J :EK95:JV9 U J6 ;J;>J= 7K/7{V ;J;>J
4JVE= =J= 6K5 4? K4V6= ;V5p /JBJ= K>K!/ '9J9 9J J7K
U7? K=9J= '6p K6V4q? K4V9O
?r; J4J>/ <MKy K>K79 K=EJ y A;E 6K5 A9qV;J*
AJ/K46 7<qeb 9SK K=V/ 7JK=V9O
<K4 U J6 7K/7{ U6JK*V? K>K!/ 39J 9K5q/ A;VE= ;V5p
U J6 K>K!/ '9J9 9J J7K U7? K=V/ 9p3q BE /JBJ B V>
;J;>JK* /=8J 6J6LzV; K6uK =J B V9O
U J6 7V{= JV946zV; ?r; J4J>/ A9qV;J* AJ/ K4V6= K5
A;E ;J;>J= 6J6L v]K"/ =JK!V/ 7JK=V9 6J H
/V9 ?/q 3JV U< <K4 ;J;>J= :E 7{ v]K"/JV4? 7J3q6J V=
/JBJ B V> A9qV;J* 6K5 4? K46 7<qeb ;J;>J= 6J6L v]K"/ =J!J
<J V9O
149
<K4 ;J;>J= 4=!Jvb J=L ;J;>J 6J6L= /JK=V! 6M7Kv]/ 3JV

/JBJ B V> ;J;>J !JK=' B EJ <J V9H
/V9 ?/q 3JV U< !JK=' JV4? 74JV6= K/6 ;JVA= ;V5p ;J;>J=
4=!Jvb J=L= JV946zV; !JK=' JV4? 9JK/> =J= !K/EJ=
J4J>V/= 3JK V9O
<K4 ;J;>J= 7K/7{ 6J6L= /JK=V! 6M7Kv]/ 3JV /JBJ B V>
;J;>JK*
/=8J 6J6LzV; K6uK =J B V9O
U J6 ;J;>J !JK=' B EJ= J=V. U< J=V. ;J;>JK* 4JVE= =J
B EJK&> y
J=V. 6P/6 ;J;>J 4JVE= =J 9JK=/ B V9 6J
<K4 6J BJ 6p U J6 J=V. 9JK=/ BE 9G !JK=' B EJ= K/6
;JA 7= 4JVE= =J BEO
<K4 U J6 ;J;>J= A > 7{ ;J;>JK* 7/pJBJ= K=9J= '6p ?r;
J4J>V/ 4=!Jvb V= /JBJ B V> J4J>/ :E 7{V 6J6L
7r4J6 K=EJ ;J;>J= U/
;V;q Ae\ BE U< AGK? K9V=J5K*
JV7JV@ K6uK B EJV&O
?r; J4J>V/= U J6 =JE KAJeb 9J U=JVE4J4 K>K!/:JV9 7 J?p
J4J>V/ 74J6 K=V/ B V9 9G BJ=
K* K7 AGK?
7V/p 7{V U4 EJ B V9O
?r; J4J>V/= =JE KAJeb 9J U=JVE4J4 7V/p U{V ;J;>J
4JVE= =J= /JK=! B V/ @J* K4V6= ;V5p 74J6 K=V/ B V9 <K4
6J 7{". K>K!/:JV9 y A;EAL;J 9SK K=V/ =J'L BE H
/V9 ?/q 3JV U< y=R7 U J6 =JE KAJeb 9J U=JVE4J4
U 9>;J K9>Vl2 74JV6= J=V. X95 B V9 6JO
O 2Z. <'<1G$0 0<7 $X<='0 =,0MGs <*>1Aoo
J 6 AJV7V{
?r; J4J>/ /Tq 74 U J6 =JE KAJeb U=JVE4J4 9J 4V= K9=^V U J6 AG{N
7{ BJ 74JV6= @J* K4V6= ;V5p *rJ 9Mp6JV> J7L> 4JVE= K=V/ 7JK=V9 9G
y=R7 J7LV>= U{V *rJ 9Mp6JV>= KAJeb %PCJeb B V9O
O 2Z. <*>1 Z< ,?X)<1Aoo
J V6= VV?p 9JG>JV4V? K*
?r; J7L> *rJ 9Mp6J> 3JK V9 <JBJ '6 U%EJ=;pJ6 A;e2VE "K+/ B V9 39J
A= J= 7<My K9V9%6J K=V>
'6 U%EJ=;pJ6 9G A= J= /Tq K65qJK=/
AG!p A4Ap A;e2VE "K+/ B V9O
*rJ 9Mp6JV>= U%EJ=;pJ6 9G A4Ap". <K4 3JV 6 A= J= /qS
75
150
A= J=L U"V'V* 7J76 J=J K6<My B V96 9G /JBJV4= %J N=L=

?/qJ9>L A= J= /Tq K65JqK=/ B V9O
*rJ 9Mp6JV>= U%EJ=;pJ6 AMK7; U JV*q= ;q=/ 39J 9A=7J
K9%J=
39J K/K=y K9%J= B V96 9G BJ= U J6 A4Ap
AMK7; U JV*q= ;q=/ 39J 9A=7J K9%J=
39J K/K=y
K9%J= B V96 39J 6Mp6 K/6 9FA= ;q=/ JV&6 9J K&V>6
;6 U J6 U'>J '' B V96O
<K4 U%EJ=;pJ6 U J6 J=V. 6M7Kv]/ 3JV 6 9J /JBJ=
J<qAlJ4V6 7J=" B6 /JBJ B V> A4Ap". <K4 3JV 6 =
;V5p K<K6 U'p K/K6 U%EJ=;pJV6= 4JKE/i 7J>6 K=V96O
U< U{V *rJ 9Mp6JV>= U J6 A4Ap K6<My 3JV 6 UA U{V
U%EJ=;pJ6
J4J>V/= J<q AM%J=^=RV7 Al6g K=9J= '6p
7VEJ'6LE AG!p U9 "+6 K=V/ 7JK=V96 9G y=R7 U9
9J
JK5 A4Ap A;e2VE 39J U%EJ=;pJ6 9G
9J
JK5 A4Ap A;e2VE "+6 =J <J V9O
*rJ 9Mp6JV> K9%J=J5L6 9J K9V9%p U J6 J7L> 9J K9@VE= 6J6L 9G
K6uK 7P.q J4J>V/ B V/ 7JK=V9 39J BJ= U J6 U9V B V/
7JK=V9O
J 6 AJV7V{ ;P> K,zL= K9=^V J7L> 6J6L= '6p U J6
J7L> J4J>/ U4 EJ6L J<qK9K5V/ 9K.q/ U< J<qz; 6MA=.
V= *rJ 9Mp6J> </4P= Alj9 y J<qz; 6MA=. K=V9O
<K4 U J6 K9@VE KAJeb U4 EJ= U{V U9V= A4Ap"V.= ;V5p ;/
7J3q p U4!J <JE /JBJ B V>
K9@EK* AG!pJ"K= A4VAp= <K4 3JV
K:;/ 6M<JEL K6uK
=J B V9 9G
! <K4 U9V= A4Ap". A;J6:JV" K9:y B6 /JBJ B V> /JBJ=J
/JBJV4= K:;/ 9py K=EJ /K q/ K9@VE= 7V= 6J6L= '6p
K9@EK* U%EJ=;pJV6= K6 * U7=. K=V96 9G U%EJ=;pJ6 <K4 K/K6
y U9V= A4Ap 6J B6 /JBJ B V> v2EG K9@EK*= 7= 6J6L
"B. K=V/ 7JK=V96 39J K9@EK* 6J6L= '6p
9J
JK5
A4Ap A;e2VE "K+/ 6p U J6 U9V= K6 * U7=. K=V/ 7JK=V96
9G U%EJ=;pJ6 39J y=R7 6/N6 "K+/ U9V= A4Ap 9J
A4Ap"V.= AG!pJ"K= ;/J6M<JEL K9@EK*= K6uK B V9O
151
U< U{V U J6 U9 U%EJ=;pJ6 9G U J6 A4Ap A;e2VE "K+/ BE

9G BJ= A4Ap"V.= ;V5p U J6 K9@VE ;/ 7J3q p U4!J U4E 9G
A4Ap".
9pJ7JV= A;J6:JV" K9:y B6 UA U{V y K9@E
Al2V U%EJ=;pJV6= KAJeb 7J5J6p 7J V9 9G U9V= KAJeb
U%EJ=;pJV6= K:;/ U;J/JV9 7 J? =J B V9O
*rJ 9Mp6J> J7LV> ?r; J4J>V/= U J6 =JE KAJeb U=JVE4J4 9J
4JV4? 9BJ> =JK!V/ AGV?J56 9J 7K=9/q6 K=V/ 9J 9JK/>
K=V/ 7JK=V9 39J ;J;>JK* 7M6=JE 6J6L= '6p ?r; J4J>V/
U8=/ 7J+J V/ 7JK=V9 9G 6p K:6g=R7 K &M 6J 3JK V>
*rJ 9Mp6J>
J V6= 5L6 74 ?r; J4J>V/= A > {;/J
7VEJ" K=V9O
*rJ 9Mp6JV>= =JE J7L> 4JVE= K=9J= 6K5 @J* K4V6= ;V5p
74J6 =J B V9 H
/V9 ?/q 3JV U< y=R7 U J6 =JE U 9>;J K9>Vl2 74JV6=
J=V. X95 B V9 6JO
*rJ 9Mp6J> BJ= 39J U J6 ?r; J4J>V/= 9;J66J= '6p ?JKvb
K4V/ 7JK=V9 U<6 BJ AM7L; U JV*q= K* BJ V J*q K9:J"O
*rJ 9Mp6J> <K4 7 5J=J
= 5L6 U J6 9pKyV U'V>=
JV4? U4E 39J 4M ?/ *J J= K5 'K=;J6J V= /JBJ B V>
y ?JKvb7J 9pKy BJ V J*q K9:JV" J7L> 4JVE= K=V/
7JK=V96O
*rJ 9Mp6J> v2 _&JE 39J U J6 7V{= 4=!JVvb= 7K=V7K{V/ U J6
;J;>J
?r; J4J>/ B V/ 6p ?r; J4J>V/ BvbJeb= K=V/
7JK=V9O
A > ?r; J4J>V/= 7= *rJ 9Mp6JV>= //iJ95J6 K6Ee. {;/J
3JK V9O
O '0 <\O ,< <*>G10 +0.Aoo U J6 ?r; J4J>V/ U J6 4=!Jvb 39J
*rJ 9Mp6JV> U J6 J7L> K9K5 J=J K65qJK=/ 8=V; U7? K=V/ B V9 9G BJV/
K9K5 J=J K65qJK=/ K9@E &JCJ K6;gK>K!/ K9@EA;PB K>K79 3JK V/ B V9
<3J H
7{"V.= 6J; K+ J6J
! 4=!Jvb 9J J7LV>= J=V.=
K* AGK{ 9.q6J 9G 7J3Lq/
7K/ J=
76
152
" U< J V6= K95JV6= 5L6 4=!Jvb 9J J7L> U7? 9G 7K/ J=

7J3q6J =J B EJV& BJ= V>!
# 4=!Jvb 9J J7L> K9>Vl2 U7V?= U{V y K9>Vl2= J=. 9G U<
J V6= 5J=J= 5L6 K9>l2 ; N8 7J3q6J =J B EJV& BJ=
V>!
$ 4?; 5pJVE= 5L6 U J6 4=!JVvb= U{V 4=!Jvb J=LV 7V4E
;JKA ;P> ;'M=L ;BJ#q:J/J ,B
39J eb9q/Lq ;'M=L <K4
3JV
9G ;'M=L= AGV" 7V4E 6pJ6p 3q 7S3 :JV9 74q?6 K=EJ
K* K99=.
% J4? 5pJVE= 5L6 U J6 ;JK>V = K9=^V {K/7P=. V>= '6p
U J6 4=!JVvb= U{V ;JK>V = 7= 4M#q*6J= U6JK*? 'J=L=
/JK=! 9G y=R7 U6JK*? <K4 'J=L 6J =J BE 39J A;E;/
'J=L =J 6J BE /JBJ B V> BJ= J=.
& J4? 5pJVE= 5L6 U7J@p". /Tq {K/7P=. V>= '6p 4=!Jvb
U7V?= U{ 9p/L/ 6pV{V U< A;vb K9@VE %NKyV/ 76L/
B EJV&6 9G U< A;vb K9@VE %NKyV/ 76L/ B EJ Alj9 BE 6J
/JBJ= AGK{ K99=.
' K99JV4= J=. djV9= /JK=! 9G
( ?r; J4J>/ /qS 4=!Jvb "BV.= !K/EJ= AlV q K* K99SK/O
<3JH
K9V=JV5= A > 7{".
! <K4 6J J4J>/ K:6g=R7 K6V4q? U4E /JBJ B V> ?r; J4J>V/=
K6V4qV? K9V=JV5= 7{ KBAJV9 ;J;>JE BJK'= T/ 6p U J6 7{
" U J6 K9V=J5 U< 7K/J6 AGzJeb UA 7K/JV6= ;JK> U J6
K9V=JV5= 7{ B V> /JBJ= =JK5 J=L 9J v2/i 7J7 U J6 9pKy
9G
# U< U{V K9V=JV5=
7{ U<Y3 4= @J K@ 7K/K6K5 UA U{V
K9V=J5K* U< 7K/J6 AGzJeb UA 7K/JV6 K9V=J5K* K/ B 9J=
/JK=V! K6VEJK'/ K&V>6 39J 7V= K6VEJK'/ B EJV&6 =R7
A > ?rK; O
AJK>AL J<q5J=J 9p/L/ 6p U J6:JV9 ;JK>
9G /JBJ=
7K/JV6= ?rK; "V.= U J6 U*r, K6EV6= ;V5p AlJK4/ %NKy=
;J5pV; 76L/ U J6 K6uK %MKy:My A > 7V{= 7= 9?p
7J>6LE B V9O
O =)[=k $X<=' ,1,8 0 $<=0 Aoo
U J6 K6uK
<K4 U J6 K9V=JV5= 7{"V.= ;V5p U J6 Alo/ K46 3JV
y K46
B V/ 9G
! <K4 y=R7 U J6 Alo/ K46 6J 3JV /JBJ B V> 7{". /Tq
K6uK6J;J v2J{V== /JK=! B V/ 9>9F B V9O
U J6 K6uK 7{". /Tq Alo/ U;EJ4 7<qeb 9>9F 3JK V9 9G
<K4 =R7 U J6 Alo/ U;EJ4 6J 3JV /JBJ B V> BJ 7{".
/Tq K6uK 6J;J v2J{V== /JK=! B V/
9FA= 7<qeb 9>9F
3JK V9O
7 5J=J
K>K!/ U;EJ4 U?@ B 9J= 7= y K6uK
7{"V.= 7= 9?p 7J>6LE 3JK V9 </{6 7<qeb K6uK= J=J
K/K6 J= 9J5p 3JK V96 6Joo ;V;q U J6 7{ 6p U J6 7{V
K>K!/:JV9 9KB/ 6J V=6 9G y=R7 9KB/ =V.= 7= 4M
;JA K/9JKB/ 6J BEO
?r; J4J>V/= U J6 U=JVE4J4 *rJ 9Mp6JV> BJ= K9=^V U J6
J7L> 4JVE= =J 6J B V> y J4J>/ /Tq K65qJK=/ /JK=!
B V/ J<q = B V9 9G /F /Tq K65qJK=/ U;EJ4 <JBJ 4M
9FAV== K5 B V9 6J 7<qeb 9>9F 3JK V9O
O .<.1<7 *` G#0 *=\L=$Aoo AJ{p U4 EJ= '6p 7Kv]K/= U{

9p/L/ 6p U J6 U{V ?r; J4J>V/ 39J *rJ 9Mp6JV> U J6 9pKy= 4=!Jvb U7?
BJK'=J 74J6 39J 6p U J6 J' K/K6 v2EG 39J /JBJ= K6 * B V/
K>K!/:JV9 {;/J7J U J6 7K/K6K5 9J J 6'L9L= ;J5pV; K=V/ 7JK=V96H
/V9 ?/q 3JV U< y 7K/K6K5 9J J 6'L9L AGK? J4J>V/= U J6
7K/K6K5 B V/ 7JK=V96 6JO
O .<.1<0 0 Aoo ?r; J4J>/ 39J *rJ 9Mp6JV> U;J ;J 9J J7L>
AlV q J6M@K A > !=%
J 6 9J U J6 K9K5 AJV7V{ y J4J>V/=
K9V9%6J ;V/ 7V4E B V9O
O =)[=k $X<=' <5<0 *0 ,2X *<1)>7 5 G,Aoo
U J6 AJK>AL
J<q 5J=JE 76L/ U J6 K6uK 39J U J6 ;5pv]/J J=L= 74 U=JVE4J4 39J
?r; J4J>V/= U J6 =JE KAJeb 9J U=JVE4J4 39J *rJ 9Mp6JV>= U J6 =JE KAJeb
9J U=JVE4J4 K6;gK>K!/ 9pKy"V.= 7= 9?p 7J>6LE B V9
153
77
154
;5pv]/J J=L ?r; J4J>/ 39J U{;/ *rJ 9Mp6J> U J6

U=JVE4JV4= eb:Mqy K9K:6g 4J9L U J6 U J6 /JK=! B V/ 9>9F
B V9 9G U J6 U J6 A;EAL;J= ;V5p BJ= 7V/p K* <q =
K=V/ B V9 /JBJ K65qJ=. K=EJ K4V9O
<K4 U J6 A;E 7 5J=J
39J
K>K!/ U;EJ4 U?@
B 9J= 7PV9q U=JVE4J4 J=J 9J5p U J6 7{ U=JVE4J4 74J6 J=L ?r;
J4J>V/= K6 * BJ= U;EJ4 ;J 9J= '6p
J=V. 4=!Jvb
V=6 U< U< 9v]J= 7K=V7K{V/ U=JVE4J4 74J6 =J B EJK&>
BJ= 9v\"/ 7K=9/q6 #K*EJV& /JBJ B V> ?r; J4J>/
7rK/7{V
6J6L= AMV<J" 74J6 K=EJ A;L%L6 ;V6 K=V>
JV4? J=J y U;EJ4 JV4V? K>K!/ /JK=V! 9AJ6 K=V/
7JK=V9O
U J6 U=JVE4J4 AGzJeb J7LV> 7r4 *rJ 9Mp6JV>= KAJeb
U=JVE4JV4= /JK=! B V/ 9>9F B V9O
7 5J=J
39J
= 5L6 U J6 U=JVE4J4 9>9F 3J J=
U;EJ4 U?@ B EJ AV/i
BJ 7{"V.= 7= 9?p 7J>6LE
3JK V9 </{. 7<qeb U=JVE4J4 J=J K/K6 J= 9J5p 3JK V96 6J
;V;q U J6 7{ 6p 7{V K>K!/:JV9 9KB/ 6J V=6 9G
y=R7 9KB/ =V.= 7= 4M ;JA K/9JKB/ 6J BEO
5J=JE <JBJ K &M 3J N 6J U 6 K9V=JV5 'KC/ 7{". /qS
U J6 K6uK6J;J v2J{V== /JK=! B V/
9FA= K/9JKB/
B 9J= 7PV9q 39J K6uK 9J U=JVE4J4 = U;EJ4 U?@ B 9J=
/JK=V!= 7PV9q <JBJ 7V= BE U J6 K? K9V=J5 39J /FAGzJeb
U J6 J<q5J=J 7M6=JE J76 9J =^ =J <J V9 6JO
O </Y(<0<0 z0M F23Aoo
U J6 AJK>AL J<q5J=J 5J=J
= 5L6 AJK>A /qS AJK>AL =J= 6MV=J5 7JK= /JK=! B V/ =^ B EJV&
9K>EJ ".p B V9O
U< U{V U J6 AJK>AL J<q5J=JE U J6 K6uKV/ 76L/ B EJ
<JE UA U{V K9V=JV5 'KC/ 7{". /Tq K6uK 6J;JE v2J{V==
/JK=V! y J<q5J=J U?@ B EJV& 9K>EJ ".p B V9O
U< U{V U J6 AJK>AL J<q5J=JE U J6 K6uKV/ 76L/ B EJ 6J
<JE UA U{V
<K4 5J=J
= 5L6 U J6 K9V=J5 K6uK= '6p
155
;5pv]/J J=L= K6 * U7=. =J BE /JBJ B V> ;5pv]/J J=L /Tq

U=JVE4J4 74JV6= /JK=V! 39J
! <K4 K9V=J5 K6uK= '6p ;5pv]/J J=L= K6 * U7=. 6J =J BE
/JBJ B V> AJK>AL J<q5J=J 9p3q B EJV& ;V;q AJK>A /qS 9p3q/J=
7/pE67 74JV6= /JK=V!
y J<q5J=J U?@ B EJV& 9K>EJ ".p B V9O
U J6 K9V=J5 7?g 9J K9@E ?r; J4J>V/ U7? =J= /JK=! B V/
BJV/ /FAGzJeb ;J;>J =^ B EJV& 9K>EJ ".p B V9O
?r; J4J>/ U J6 ;J;>JE U< /JK=V! BJ= =JE KAJeb 9J
U=JVE4J4 74J6 V= UA /JK=! B V/ y J4J>V/ /FAGzJeb
;J;>J U?@ B EJV& 9K>EJ ".p B V9O
O </Y(<0< =)[)R &< < <G1 (.Y ,< 1 < G 0 F)<= 2 <0>0 *0
,<(< =)G3(Aoo U< A;E K? K9V=J5 AGzJeb U J6 K9@VE AJK>AL J<qz; %K>V/
3JV
39J /FAGzJeb U J6 ;J;>J ?r; J4J>V/ %K>V/ 3JV
39J *rJ 9Mp6JV>
U J6 J7L> %K>V/ 3JV UA A;E K9V=JV5 'KC/ U J6 7{ 6p 7V{= 7V=
5;q#* 9J > J V*= U J6 U6JK*? 'J=L K=V/ 7JK=V96 6JO
O 2Z. <'<1$
Z< ,?X)<G10 (.Y ,< 1 <
=)=3s 0<0
`.$<Aoo
U< U{V U J6 K? K9V=J5 6MAJV= U J6 5;q#* 39J > J *
K/;V5p =^ B EJV& 9G ?r; J4J>V/ y K? K9V=J5 AlV q U J6 4=!Jvb
U7? K=9J= A;E 39J J4J>/ /qS BJ K9V9%6J JV> y 5;q#* 9J >
J * 9pJB/ 3JV UA U{V ?r; J4J>/ K>K!/ JV4? J=J y 5;q#* 9J
> J * %J>J EJ <J EJ K6K@ K=V/ 7JK=V9O
U< U{V K? K9V=J5 AGzJeb U J6 K9@VE *rJ 9Mp6JV> U J6 J7L>
4JVE= =J BE UA U{V *rJ 9Mp6J> K>K!/ JV4? J=J J7L>
4JVEV== /JK=V! y K? K9V=J5 6MAJV= 9pJB/ JV& =R7
U J6 5;q#* 9J > J * %J>J EJ <J EJ K6K@ K=V/ 7JK=V9O
O F, < )> (.Y
1 < Aoo
U J6 5;q#* 9J > J *
U9 J 6L B V9 <K4
K9V=JV5 'KC/ 6p 7{V K9K5 J=J K65qJK=/ 7e]JE 5;q#* 9J >
J V*= U6JK*? 74J6 6J K=EJ 39J 74 U6JK*V? K>K!/
78
156
/JK=V!= 7PV9q 9J 7V= 39J 5J=J

= K95J6 U!>J7 K=EJ BJ
U#[email protected] 9J =^ =J BE 39J 9pJB/ =J!J BE
! 5J=J
K>K!/ K95J6 U;J/JV9 9p/L/ 6p U J6 7e]JE
JK7/ U J6 K? K9V=J5 6MAJV= BJ U#[email protected] 9J =^ =J BE
39J 9pJB/ =J!J BE
" 5J=J
39J
= 5L6 74 U J6 JV4? >G#6 K=EJ BJ
9pJB/ =J!J BE 39J
# U J6 K6uK 9J U=JVE4J4 9>9F 3J J JV> BJ= eb:Mqy U J6
K9@VE BJ U#[email protected] 9J =^ =J BE 39J 9pJB/ =J!J BEO
U J6 U9 J 6L 5;q#V*= 8V> U#JK@/ U J6 > J * 9G U J6
U9 J 6L > J V*= 8V> U#JK@/ U J6 5;q#* U9 J 6L 9K>EJ
".p B V9 6JO
7V=J{:JV9 6p U J6 AMK95J 9J V<J"p/J5L6 B V96 6JO

7 5J=J
= U J6 K95JV6= >G#6 U J6 K? K9V=JV5= K9@E9v\
B V/ 7JK=V9 9G U J6 U*r, K6EV6= "+6/Ve BJ= K69qJBL
K;K* 9G A4Ap"V.= ;V5p K9V=J5 K6uK= '6p 9K.q/ 7e]J
AlV q U J6 K &M 7 5J=J
= 5L6 =K{/ 9J 74 U J6
K5 J= 9J U=BJ 9>9F AGzJeb U J6 J<q5J=J= U{V 7V<J'p
B V9 6JO
y=R7 U J6 J<q5J=JE ?r; J4J>/ U*r, K6EV6= A4Ap 74
B V/ 9KBvZT/ U J6 9pKyV /JBJ= A4Ap 7V4 7M6=JE 9BJ> =J=
JV4? U4 EJ= 7K=9V/q K%/ ;V6 K=V> AGK? U*r,
K6EV6= /BK9> B V/ /F /Tq K65qJK=/ 3q {K/7P=. KBAJV9
y 9pKyV 74JV6= '6p K6V4q? K4V/ 7JK=V9O
O </Y(<0< =)[)R &< < <G1 < @0>0 2$Y<,1> *=0,=$Y$ &<= G,Aoo
K? K9V=J5 AGzJeb U J6 K9@VE U J6 AJK>AL J<q5J=J %>J JV> 39J
;5pv]/J J=L ?r; J4J>/ 39J *rJ 9Mp6JV>= K6 * U J6 J<q5J=J %>J JV> U J6
;JK> K9V=JV5 'KC/ U J6 ?rK;V = y J<q5J=J =^ B 9J= 7PV9q 7V<J'p
%J N=L= ?/qJ9>L /JBJ= AMK95J BE ;6:JV9 7K=9/q6 K=V/ 7JK=V96 6J 39J
AJK>A ;5pv]/J J=L ?r; J4J>/ 39J *rJ 9Mp6J> <!6 U<!JV6 9J <JBJ= K6 V*
y=R7 J<q5J=J %K>V/ 3JV
= K96J 6M;K/V/ y K9V=J5 AlK q/ 6VB ;6
A4J%=V.= '6p 9p/L/ y=R7 ?rK; V %J N=L B V/ K,A%J'q 9=!Jvb 9J 6p
U J6:JV9 ?JKvb K4V/ 7JK=V96 6J 39J /JBJ= %J M=L= 9AJ6 K=V/ 7JK=V96 6JO
7 5J=J
<JBJ K &M 3J N 6J U 6 ?r; J4J>V/= 7P9q
6MV;J46 9pK/V=V
y 7 5J=JE K>K!/ U J6 J<qz;
%J>J JV> U*r, K6EV6= U J6 ;q /qJV K,A%J'q 9=!Jvb 39J
6p U J6:JV9 A4J%=V.= '6p ?JKvb U4 EJ <J V9 6JO
O *` G#0 *r=$=)=($SAoo U J6 K? K9V=JV5 'KC/ U J6 ?rK;

5pJVE= 5L6 U J6 J<q 5J=JE /JBJ= 7K/JV6= U<Y3 4= @J K@ 7K/K6K5=
U J6 ;q /qJ= J=J /JBJ= 7K/K6K5/i =J V/ 7JK=V96 9G 7 5J=J
9G
= K95J6 AJV7V{ K? K9V=JV5 'KC/ U J6 ;JK> /JBJ= K6 * B V/
{;/J7J U J6 9pKyJ=J y J<q5J=JE /JBJ= 7K/K6K5/i =J V/ 7JK=V96O
5pJVE= 5L6 U J6 AJK>AL J<q5J=JE K? K9V=JV5 'KC/
U J6 7{ U J6 J 6'L9L= J=J 7K/K6K5/i =J V/ 7JK=V9 6JO
K? K9V=JV5 'KC/ U J6 7{ ;5pv]/J J=L= AloMV! U J6
J<q5J=JE /JBJ= 6M;K/zV; U J6 J 6'L9L= J=J 7K/K6K5/i
=J V/ 7JK=V9O
O =)[=k F0<G7'<G'0 ,X< X<Aoo
U J6 K6uK 9J U=JVE4JV4=
U J6 5J=J= 9pJ!pJ 7AGV" U J6 AMK95J 9J AVf4B U4!J K4V> BJ *rJ 9Mp6JV> U7?
=J B V9O
*rJ 9Mp6J> AGK? 7{".V 6J6L= AMV<J" 4J6 K=EJ K9@EK*=
K6uK K=V9 9G /4K9@VE BJ= KAJeb %PCJeb B V9 9G
7{"V.= 7= 9?p 7J>6LE B V9O
O =$*7 ,X=^0 =( <0 $X<=' 0`#Aoo

U J6 9pKy U J6
U9 J 6L 5;q#* 9J U9 J 6L > J V* G?"B. K=V/ 39J G?"B. 9pJB/
=JK!V/ v2L J= K=V> K/K6 UA J=V. U J6 U*r, K6E6 B V/ 9KBuZJ=V<J"p
B V96 6J 39J U J6 4 9J 'K=;J6J5L6 B V96 6J 39J K/K6 9J /JBJ= U J6
J 6"/ 7K/K6K5 6p3JE 7J V/6
= ; U J6 AMK95J 9J K5 J= B V/ 9K/
B V96 6J 39J AGK? U*r, K6EV6= 6pJ6p A4VAp= /N>6JE 7/p{ 9J
157
79
158
*g'2 (X<7
9JG>JV4V? 7K=%JK>/ U J6 9p9AJ 9JK.'p AGv]J 39J 6p U J6

JV'= 7= JV=J76LE
& K? AlK q/ J' ;q 3q ;6 U J6 J' ;q <JBJV/ 9p9/
?Ky ;J6M@ 9J 7 J=J F76g 6E 9G <JBJV/ U 9>;J <JKe :JV9
AJK>/ W94MpK/ <JKe /J7LE J.K9
39J 6p U J6
7 JV== ?Ky= 9p9BJ= 'KC/ 3JV
9G <JBJ K6;gK>K!/
9J
JK5 J' V;q= AGV" AGK? JV& <3J H
U J6 4r9p 9J 9v\V 7v\/ AGV<J'6 K6!MI/ 39J 6p U J6
v2J:JK9
39J TK; 7KzEJE JK6EJ BJ= JK4 9v]J=
7K=9/q6 AJ56 39J BJ= ;P>p 9SK =.
'JBJ' K6;Jq.
7JK6 ?KyAB W94MpK/ ?Ky= 7K=9/q6 F7J46 =R7Jeb=
AJ>6 39J K9/=.
U/> 9G "pJVA= K;?r. 7K=V?J56 9J U?J56AB !K6 U/>
N7 39J !K6' ; 'MV4= 6pJ6p FVA J'
U/> 39J "pJA K9/=. K97.6
J J? 9J A;M4r 7V3 ;J6M@ 39J ;J>J;J> 7K=9B6
9G A= J= /Tq A= J=L U"V'V* 7J76 J=J
5pJVE=
VV?p K? AlK q/ J' ;q 9K>EJ U#JK@/ 6p U J6 J' ;q
BJ= eb:Mqy B V9 9G
'
U J6 U JlJ6L= ?rK; 9K>V/
9pKyV 9M(J V9 K<K6 74
;<qJ4J K6K9qV?V@ y U JlJ6LV/ 6Mp6 &E;JA <J9/ %J N=LV/
K6<My =KBEJV&6 /V9 K6V;gJy U J6 9pKy
J V6= J /JE
?rK; AGJ= eb:Mqy B V96 6J
9p9v]J76J K G9J 7?JAK6 4JKEV/i K6<My 9pKy
/4J=K
/TqV/i K6<My 9pKy K<K6 74JK5 J= 9V> 9J /JBJ=
7= K7q/ {;/J9V> 9p9v]J76J 9J 7?JAK6 5=V6= J'
K=EJ 3JV 6O
5pJVE U J6 U JlJ6L= 7K=V?JK5/ ;P>56 9G v]JEL
AlV4= ;P>p 9K>V/ K9V4V? AGK9K59 U J6 U JlJ6L= U{V
9JG>JV4V? 9Kv]/ U J6 ?J!JE K6VEJK'/ BJ= ;P>56 v]JEL
AlV4= ;P>pV 9M(J V9O
O 92 r5# $5=,1
1X<# $5=,1 \L<*)Aoo
5pJE 7U<J'p
F <U<)>0 .?)<+<7 2Z=.G 0 92 r5#

O (X<G70 *rG7< Aoo
5pJE K? AlK q/ J' V;q K6VEJK'/
;6 A > 7K/JV6= U{V 7V<J'p B V9 <JBJ=J U JlJ6L 9G K6;gK>K!/ U5V6= 7K=;J. 6Pp6
U JK* *J J
" U J6 U JlJ6L= KBAJ9 9FAV== U?@ K4V6 BJ= v]JEL AlV4= ;P>p
6Mp6 4M U JK* *J JO
A= J= A= J=L U"V'V* 7J76 J=J BJV/ K>K!/ 6p U J6
U JlJ6L= U{V
5pJE 7VEJ" K=V/ 7JK=V9O
O =,G23 49f<Aoo
K9@E 9J 7AGV"= 7K=7e]L U J6 K &M 6J 3JK V>
5pJVE
G?"B. /BK9> 3q
5pJVE= 5L6 v]JK7/ ?rK; G?"B.
/BK9>
! >pJ. /BK9> 3q
5pJVE= 5L6 v]JK7/ ?rK;
>pJ.
/BK9>
" U JlJ6L 3q U JlJ6L J 6
= V3q U J6 U JlJ6L
9G K6;gK>K!/ 7K/J6}K> BJ= eb:Mqy B V9 <3J H
J7J//H 9>9F U J6 J V6= J=J 9J 5L6 v]JK7/ U J6
AGK9K59 AGv]J
A= J= /Tq A= J=L U"V'V* 7J76 J=J
5pJVE=
VV?p U JlJ6L 9K>EJ U#JK@/ U J6 7K/J6 AGv]J 9J
AK;K/ AGK9K59 B 9J 6J B
# /BK9> 3q G?"B. /BK9> 9G >pJ. /BK9>
$ G?"B. /BK9> 9G >pJ. /BK9> AlV q U9J,q 3q
5pJVE= 5L6 "K+/ *rJK U9J,q
% U J6 U JlJ6L AlV q ;M6J8J 3q U JlJ6L J 6
=
5J=J
"
AGJKE/ ;6 6L* ;M6J8J <JBJ U JlJ6L=
159
80
160
BE =R7 7V/p U JlJ6L

5pJE 7V<J'p B 9J= /JK=! B V/
;JVA= ;V5p
5pJVE= K95J6 U;J/JV9
K* ?rK; G? "B. /BK9>
K*
?rK; >pJ. /BK9> v]J76 K=V9 9G
! 7V/p 9FA= BJ U?@ B 9J= 6Mp6 6E ;JVA= ;V5p y 9FAV==
6L* ;M6J8J= 7JI% ?/JG? G?"B. /BK9>
>pJ. /BK9V>
H
6M7JV/ 7r4J6 K=V9O
7 5J=J
! = 5L6 y /BK9>VE 74 3q U< 9FAV==
'6p 74J6 =J B V9 UA 9FA= U?@ B 9J= 9p9KB/ 7V==
9FAV== 7VB>J /JK=V! BJ /BK9>VE 9=J B EJV& 9K>EJ ".p
B V9O
K=EJ JV4? J=J

BJV/ K6K4q U;EJV4= '6p U9J,q 9JK/> K=V/ 7JK=V9 39J
A4ApK*V /JBJ= 74 B V/ 7AJ=. K=V/ 7JK=V9 9G
! *rJK U9J,q 7M6"qK+/ 6J B EJ 7<qeb 9J y A4VAp= 7V4 6P/6 A4Ap
;V6J6L/ 9J K69qJK%/ 6J B EJ 7<qeb U9JV,q= 9J y A4VAp= {;/J
4JKE/i JV4V? K>K!/ 9pKy /qS 7VEJ" 7J>V6= '6p
K6V4q? K4V/ 7JK=V9O
7 5J=J
= 5L6 *rJK U9J,q 9JK/> B 9J= 7= BJ=
A4Ap". /JBJV4= 7V4 J= 9BJ> 3JK V96 6J 9G
5pJVE 9J
U J6 K9K5V/ *rJK U9JV,q= V>! 3JK V> BJ y 7 5J=J=
5L6 74 JV4V? K>K!/ 9pKyV 9M(J V9O
9JK/V>= U;EJ4 U?@ B 9J= 7PV9q
5pJVE= K95J6 6M<JEL
*rJK U9J,q 7M6"qK+/ B V9 <JBJV/ BJ y U;EJ4 U?@ B 9J= 7=
BJ= J<q:J= "B. K=V/ 7JV=O
O 'jAoo
U< U{V U J6 U JlJ6L 5J=J
= 5L6 K95J6}K>
;JK6V/ 9p3q BE UAV{V A= J= JV4? J=J y JV4V? K>K!/ A;VE=
;V5p y K95J6}K> ;JK69J= '6p K6V4q? K4V/ 7JK=V9O
<K4 y U JlJ6L y K65qJK=/ A;VE= ;V5p JV4? 6M<JEL J'
K=V/ 9p3q BE /JBJ B V> A= J= JV4? J=J y U JlJ6L=
7V/p 7K=%J> 9p9v]J7 39J BJ= 9p9v]J76J JV'= 4JKEV/i
K6VEJK'/ 6p ;q /qJV 6K5 4? BJ'J= *J J 4 74J6 K=V/
9G 9pJB/ 9p3q/J= U{V 9p3q/J= 73; /JK=V!= 7= B V/
7V/p K4V6= '6p JV=J
BJ'J= *J J 4 74J6 K=V/
K6V4q? K4V/ 7JK=V9O
7 5J=J
= 5L6 JV=JK7/ U J6 4 JV4V? K>K!/
/JK=V!= ;V5p 7K=V?J5 =J 6J B V> BJ A= J=L 4J9L KBAJV9
J4JEV<J"p B V9O
7 5J=J
39J
= 5L6 U J6 JV4V?= J=J AG{M U J6
9pKy BJ 7M6K9qV9%6J= '6p A= JV== K6 * y JV4V?= &E
;JVA= ;V5p 4=!Jvb U7? K=V/ 7JK=V96 9G y=R7 4=!Jvb
7JK= 7= A= J= y JV4?K* 7M6K9qV9%6J K=EJ U4K!V9 9G
BJ= 7= <3J<3 JV4? 74J6 K=V9O
O $5=,1tG70 ,X,\L<*)<Aoo
G?"B. /BK9>
>pJ. /BK9>
v]JK7/ B 9J= 7= <3J?L#r Alj9 K6;g=R7 A4Ap A;e2VE
K* *rJK U9J,q "K+/
B V9 <3J H
U JlJ6L= U<Y3 4= @J K@ 7K/K6K5 /Tq ;V6J6L/ 4M '6 A4Ap
9G =R7 U J6 7K/K6K5 6J 3JK V> U JlJ6L= ?rK; ". /qS
/JBJV4= K6V'V4= ;5p B V/ K69qJK%/ 4M '6 A4Ap 9G
! U JlJ6L= 9p9v]J76J /qS7{ /Tq ;V6J6L/ 4M '6 A4Ap <JBJV4=
;V5p eb/ '6 B V96 U JlJ6L= KBAJ9 ?J!J B V/ ;V6J6L/
9pKyO
*rJK U9JV,q= A4Ap". 7J>JzV; 7 5J=J
! =
5L6 A4Ap"V.= ;5p B V/ 7V/p 9FAV== '6p BJ=
'6
U%EJ=;pJ6 K69qJK%/ K=V96 /V9 73; U%EJ=;pJ6 7 5J=J
!
= 5L6 A4Ap"V.= ;5p B V/ B V9O
5pJE 9G /4 VV?p 7.L/ K9K5= K95J6 6M<JEL *rJK
U9J,q /BK9>VE= 9p9v]J76J 7K=%J>6J K=V9O
*rJK U9J,q BJ= {;/J 7VEJ" 4JKE/i 7J>V6= 9pJ7JV= A= J=
/Tq A;E A;E 74 K6V4qV?= 5L6 3JK V9O
A= J= <K4
;/ U7J@. V= U< *rJK U9J,q 9J BJ= U J6 A4Ap
4JKE/i 7J>V6 7M6H 7M6H 9p3q B V/V& 39J AJ5J=./ /BK9>VE=
>{p
v2JV3q= AKB/ AG"K/7P.q:JV9 J' ;q K=V/V& /JBJ
B V> A= J= U9J,q 9J A4ApK*V
J=. 4?qJ 9J= AMV<J" 4J6
161
81
162
O $&X $1G,0 `.$<Aoo

5pJE 39J AGK? U J6 K9K5= <3J<3
7VEJ" K6K/ =J= >V{p 9G BJ= 7VEJ'V6 A= J= U> 4vbJV9' 39J J<q5J=J= 6K3
7 />9 K=V/ 7JK=V9O
73; /JK=! B V/ /BK9V> ';J B V9O

U< U{V U J6 U JlJ6L 7 5J=J
= 5L6 G?"B.
/BK9V>= U J6 3q K6V'= 9p9AJ= JV' >J"J V/ _&M 6J BE UA
U{V
y /BK9V> *J J 9=J B EJ= /JK=! B V/ BJ 7 5J=J
6M<JEL K9K6VEJ" 6J B EJ 7<qeb A;VE= '6p /BK9V>= y
*J J= 7= K>K!/ BJV= U JlJ6L /Tq AM4 7V4E B V9O
<K4 G?"B. /BK9> v]JK7/ B EJ= 7= U J6 A;E U JlJ6L
U9J6JA 39J U9J6JA U?EJV== ;J5p; 9p/L/ 6p U J6:JV9
K/K=y ;P>56 AG"B V= /JBJ B V> 7 5J=J
= 5L6
U JlJ6L= 9p9BJ= U<J"p U J6 3q 39J G?"B. /BK9V>= U J6
Al4 AJ5J=. A; ;P>5V6 7K=9/q6 =J= 73; 7&f4 y
/BK9V>= 3JK V9 /V9 BJ y=R7 7K=9/qV6= 7PV9q U JlJ6L=
7K=V?JK5/ ;P>5V6= 7IK%? ?/JG? 39J K/K=y ;P>5V6= 7J?
?/JG? <JBJ ; B V9 = K5 B V9 6JO
,X< X<Aoo
7 5J=JE K/K=y ;P>56 9K>V/ U JlJ6L= U J6
K9V4?L G?L4J=V U4 EJ= 7vbJ9 T/ 9J 74 U J6 ;P>56V
9M(J V9 6JO
7 5J=J
= 5L6 7K=9/qV6= K5 J= 7VEJV"= 7VEJ'V6
U JlJ6L= K/K=y ;P>5V6 G?"B. K=9J= '6p 3q AG"VB=
>V{p G?"B. /BK9V>= Al4 K9Kz K=9J= '6p *rJK U9J,qV
7<qJ A;E K4V/ B V9O
7 5J=J
9K.q/ 7e]JE AG"SBL/ U?EJ= 6pJ6p U?EJV== ;/
7e]JE :K9@p/ U9J6JA 9G K5 J= AMpV/ G?"B. K=V9O
7 5J=J
9K.q/ 7e]JE AG"SBL/ U?EJV== 6pJ6p U?EJV==
;/
7e]JE U:JV*= K5 J= 3JK V9 9G y=R7 U:JV*=
K5 J= G?"B. /BK9V>= 7V{ *rJK U9J,q 7VEJ" K=V9O
G?"B. /BK9V>= U< 3q U JlJ6L 75J=J
= 5L6
7 5J=JE K>K!/:JV9 K9K6VEJV" 9p9BJV== '6p 6MV=J5
K=EJV& UA 3q *rJK U9J,q K6;gK>K!/ U 8J AJK*qK8V *
! J KA K9
K6* AJK*qK8V *
" 7K/={J 9G ,J AE7AB A= J=L . 7 9G
O =,G0<( =)[=k $X<='Aoo

/BK9>VE= 7?JA6 AGzJeb U J6
K9@VE *rJK U9J,q 9G U JlJ6L= ;V5p U J6 ;/K9V=J5 U4!J K4V> K9@EK*
A= JV== K6 * U7? K=V/ B V9 9G BJ= BJ= A= JV== KAJeb %PCJeb B V9O
/BK9>E B V/ 7J AMV<J" AMK95J AlV q *rJK U9J,q 39J
U JlJ6L= K9=^V U J6 ?K;V = U J6 K:V<J" 3JK V> BJ 4?;
5pJVE 9K.q/ ;'M=L B V/ /q6 AlV q K9V=J5 K6uK= 7e]J
6M<JEL K6uK K=V/ B V9O
O `.$< *Y#AooA= J=
5pJVE= 5L6 BJ= A > 39J UK!/ ?/q AJV7V{
BJ= U J6 ;q /qJ 39J 6p U J6 /qS7{V 7q. K=V/ 7JK=V9 O
O 92 r5# $5=,G10 =,=)G7< Aoo
G?"B. /BK9V> 9=J T/
39J ';J T/ A > 3q U JlJ6L= 9p9AJ 7K=%J>6J= JV' >J"J V/ 7J=J
<J V9O
U JlJ6L *rJK U9J,qV G?"B. /BK9V>= 3q 7 5J=J
=
5L6 K9K6VEJV"= JV' 9p9BJ= K=9J= '6p 6MV=J5 K=V/
7JK=V9 9G U9J,q y=R7 K9K6VEJ" K=9J= KAJeb "B. K=V/
7JK=V9O
U JlJ6L= 9p9AJ 7K=%J>6J= JV' K6VEJK'/ G?"B. /BK9V>=
U J6 V3q= 7= U JlJ6L 9pJG BJV== JCJ ?/JG? K5 BJV=
39J BJ= AJ5J=. U?EJV== '6p U#JK@/ ;M6J8J= BJV== 7I%J=
?/JG? BJV= <JBJ K5 B V9 AM4 74J6 K=V9O
<K4 U J6 U JlJ6L=
JK5 U?r.L= AJ5J=. U?EJ= 3JV
9G
BJ= '6p K9K:6g BJV= ;M6J8J U#JK@/ BE /JBJ B V> 7 5J=J
= 5L6 7V4E AMV4= BJ= K65qJ=V.= VV?p y U#JK@/ K9K:6g
;M6J8J= BJV== }=^/iJ6M<JEL KBAJ9 T/ "CV "B. K=V/ B V9O
G?"B. /BK9V> 7V4E y=R7 AM4 /BK9V>= 3q U JlJ6L U<
9FAV= 9p9BJ= K=EJV& UA 9FAV== 9p9KB/ 7=9/Lq 9FAV==
163
82
164
/4 VV?p A= J= /Tq
6MV;JK4/ 6p U J6 . 7O
/FAlV q A= J=V
O 4?=,(< *r<=x0 F/< X$<Aoo

A > ?rK;
5pJVE= 5L6 A >
AMK95J 7J 9J= 9G /BK9>VE G?"BV.= U<J"p B V96O
U J6 KBAJ9 9FAV= U J6 ?rK; U J6 U JlJ6LV/ 6Mp6 &E ;JA
%J N=L 7P.q 6J K=V> K/K6 y 9FAV== '6p /BK9>VE G?"B.
K=V/ 7JK=V96 6JO
O F <U<)>G *Z'k <=&Y F07<$Aoo

5pJE 7V<J'p BE =R7
A > U JlJ6L= U{V /JBJV4= = 74J6V<J"p JE KBAJV9= U9>JE /F /Tq
/BK9>VE 9=J T/ U J6 3q KBAJV9 5=J B V9 6JO
O $5=,1tG70 <7 <7 0 5 G$ F05< Aoo /BK9>VE= JE
;P>56L ;M6J8JAB JE = B V/ U=BJ 7J V9O
O 92 r5# $5=,G10 ,X,5<0Aoo

7V/p 9FA= G?"B. /BK9V>
';J T/ U;J* V3q= 4M /T/LEJG? A;J6 6M7JV/ A > ?rK; "V.= ;V5p 6"V4
9f*6 =J B V9 9G 9K?
/T/LEJG? 5J=J
= K95J6 U;J/JV9
K9K6VEJ" =J B V9 <JBJ= ;M6J8J A > ?rK; "V.= ;V5p A;J6 6M7JV/ 9f*6
=J B V9O
<K4 U J6 ?rK; Uv2_&JE U JlJ6L= %J N=L /pJ" K=EJ %K>EJ <J6
/JBJ B V>
5pJVE= 5L6 /BK9>E B V/ /JBJV U J6
AMK95J 7V4E B V> /JBJ K/K6 7J V96O
U J6 ?rK;V = %J N=L 9=!Jvb 9p/L/ 6p U J6:JV9 9AJ6 =J
B V> K/K6 U JlJ6L= %J N=L B V/ 9A=7J U J6 ?rK;V =
A;/N>p B V96O
U J6 ?rK; %J N=L B V/ 9=!Jvb B V> /BK9>VE /JBJ= G?
9JV'EJ B V9O
U< U{V U J6 ?rK; U J6 U JlJ6L= U J6 K8A 9J K6* B V/
BJ= 6p U J6 K8A 9J K6V* 94>L B6 UA U{V /JBJ= 6JV;
';J T/ /BK9>VE= AMK95J y 94>L T/ K8VA 9J K6V*=
/BK9>VE v]J6JebK=/ B V9 9G /JBJ= 7PV9q= K8A 9J K6V*=
%J N=L /JBJ= 94>L T/ K8A 9J K6V*= /BK9> B V/ 7V4E
AMV<JV"= U{V ".6JE J6J B V9O
U J6 ?rK;V = 9A= "BV.= 7= K/K6 39J U JlJ6LV/ %J N=L=/
3J J JV> /JBJ= ;S/Np #K*V> /JBJ= ;V6J6L/ v2/iV:J"L
5pJVE= 5L6 7P.q AMK95J U:J" K=V96O
O 2Z=. G#0 <7 <7 0 5 G$ F05< Aoo /BK9>E B V/ U<

?rK; V U4 EJ BE BJ= '6p /JBJV U J6 JE = K4V/ B V9 6JO
BJ=
3q
O Z<=~ F,<G!Y0 ,\L<)

< Aoo
*rJK U9JV,q= K8A U JlJ6L=
JGK"6JE v]JK7/ B V9 9G U< U{V U J6 U JlJ6L=
JK5
K8A 39J
K6* 3JV UAV{V BJ= U=K'Kr T/ 75J6 J<qJ>VE BJ v]JK7/ B V9O
*rJK U9JV,q= KBAJ9={.AB A > !=% U JlJ6L 9B6 K=V9O
O $5=,1tG70 =54<, =)0>`<Aoo U JlJ6L= JE 9pVE= KBAJ9 U< :JV9
K6=LK{/ BE /BK9>VE= 7K/ 9FAV== JE 9pVE= KBAJ9
6M=R7:JV9
U JlJ6L= !=V% K6=LK{/ B V9 H
/V9 ?/q 3JV U< A= J= K6' !=V% /BK9>VE= JE 9pVE= U J6 K9V?@
K6=L{J= '6p v2/e K6=L{ K6VEJ" K=V/ 7JK=V9O
O $5=,1tG70 *r'k 4?=,(< )X<)X 4?=,(<0 =$=0^ 5 G,Aoo
5pJVE= 5L6 ?rK; V 7V4E U J6 AMK95J U J6 J 6 %NKy %J N=L= ?/Jq9>L
39J 6p:JV9 /JBJV 7V4E 6p U J6 AMK95J= K/K=y KBAJV9 7V4E B V9
9G BJ y=R7 AMK95J= 7K=9V/q 9J BJ= BJK6 K=EJ B V9 6JO
O F.I4?.> <G =)/?^ =2Gy0 F`Gm =,G23 =,(<)Aoo
5pJVE <JBJ
K &M 3J N 6J U 6 U< A > U JlJ6L A;vb 9FAV== 7K=9V/q BJ= U J6 GV?
BJV4= J' %J>JE UA A > U JlJ6L= ;M6J8JE ?rK; "V.= G? "BV.= '6p
A= J= A= J=L U"V'V* 7J76 J=J K95J6 K=V/ 7JK=V9O
O
<=( =2y 4U= Y$ < G.Y =)G7<= $ F <U<)>4.B5Aoo
O 1X<# $5=,G10 ,X,5<0Aoo >pJ. /BK9V> ';J T/ 3q *rJK U9J,q

U<:JV9 Kv]= K=V9 UA:JV9 9G UA VV?p 9p9BJ= =J B V9 9G U9J,q
165
9KB/ K=V9O
83
166
F3<62 (X<7
5pJVE <JBJ K &M 3J N 6J U 6 U4V?= JK5 v]JV6 JK5 K? AlK q/

J' V;q K6VEJK'/ U J6 U JlJ6L= 6MV=J5zV; A= J= BJ= /BK9>EV
BJ= K? AlK q/ J' V;q =/ K9K:6g K8A 9J K6V*= ;V5p K9:y K=9J=
'6p 9G BJ= 7V/p K8A 9J K6V*= U{V v2/e *rJK U9J,q "+V6= '6p
6M;K/ K4V/ 7JK=V9 9G UA U{V
5pJVE= K95J6J9>L ;6:JV9 7V<J'p
B V9 U<6 BJ= y=R7 7V/p K8A 9J K6* K* U JlJ6LO
! 2Z=.
O \J>. *r#7G)0 `.$<Aoo

A= J= A= J=L U"V'V* 7J76 J=J
%"J; ;G>J 9f4V= , ?rK; K6VEJV" K5 /= K6E;J6M9K/q/J 9G 4{/J=
AKB/ v2 !=V% 'JBJV'= J";6 K6"q;6 K6K/ =J= >V{p , ?rK; "V.=
K6VEJ" K6Ee. 9G /JBJV4= ;JK> "V.= U=K'Krr =V.= '6p vZL; 7.E6
K=V/ 7JK=V9O
K9V?@ K=EJ 9G 7K= y {;/J= AJ;K" /JV {N.g 6J K=EJ
6M=R7 vZLV; K6;g9K.q/ A > 39J UV = U{V 7V<J'p
B V9 BJ K65qJ=.
! , ?rK; ". 9G ;JK> "V.= K K 4JKE/i 7J>6 AJV7V{ vZL;K*
/JBJV4= U{V 7V<J'p B V9 9G K K 7K=Kv]K/V/ BJ= 7VEJ"
/JBJV4= U{V 9 B EJ <J V9 BJ= 9.q6J
" , ?rK; "V.= K6VEJ" 9G vZLV; /JBJV4= eb:MqKy K6Ee.
# , ?rK; 9G ;JK> "V.= U=K'Kr =. U=K'Kr !J/J ={. BJ
B V/ v]JEL 9J v]JEL:JV9 6J; /q6 9G U=K'Kr =V.= '6p K8A
JV=J7
$ U=K'Kr T/ B
9J 6J B
, ?rK; "V.= K6VEJ" %J N=L=
?/q9>L 9G 7JK=?rK;V = BJ= K6Ee.
% vZL; 7V<J'p BE 6J =R7 , ?rK; "V.= %J N=LV/ K6VEJ" 9G
vZL; 7V<J'p BE 6J =R7 ;JK> /qS , ?rK; "V.= %J N=LV/
K6VEJ" K6K@ =. AL;J9 =. 39J 6p:JV9 K6Ee.
& U J6 AVebJ@'6 K:6g 9p9v]J76J 3J J= U{V , ?rK; "V.=
7K?{. 9G >pJV.= 9p9v]J =.
' vZL; 7K=%J>6J= 9pE K :JV9 9G JBJ= J=J 9B6 =J B V9 /JBJ
K65qJ=. 9G
( vZLV;= VV?p A;L%L6 39J 7VEJ'6LE B V9 =R7 J6MAGK"
9G 7K=7P= 9p9v]J K65qJ=.O
A= J= A= J=L U"V'V* 7J76 J=J U J6 vZL; AGV?J56
7K=9/q6 39J 9JK/> K=V/ 7JK=V9O
O ,<91<G'2 =,=)G7< G*Y<G02) $X<='0 *0 92 r5# $5=,G10

,X,\L<*)< *Y#Aoo *rJK U9J,q A= JV== 7P9q 6M;K/zV; 9JG>JV4? K9K6VEJ"
V7qJV=?6 39J UAJ6J>L 9pJGV
BJ= G?"B. /BK9V>= 9p9v]J76J 7q.
K=9J= '6p BJ= AKB/ %MKy K=V/ 7JK=V9 9G V{V %NKy= ?/qJ6M<JEL 7V4E
U J6 K8A U JlJ6L /Tq 7K=V?J5V<J"p B V9O
167
G#0 =)G7< =)7Pe# ,9 =)0<*k<
84
168
5J=JE , ?rK; 3q y U J6 9f4V= 'JBJV' ;J> +JV6J

9J 6J;JV6J 9J ;J>J;JV>= %>J%> 9J }4J;'J/ =J AlV q U J6
J' 39J ;J> 9J 6p K &M U9J(J
=J 9J !J>JVA= '6p
'JBJ'V 7v\/ =V.= U J6 JV' K6VEJK'/ U J6 9pKyO
7AJK=/ 6J B V> /JBJ= K6<MKy= /JK=! B V/ 4M 9FA= U;EJV4

v2LE 7V4 K5K/ 3JK V96 9G K/K6 7M6=JE K6VEJ"V<J"p B V96O
U9JV,q= :J A U%EJ=;pJ6
A= J= /qS K65qJK=/ ?V/q v2LE 7V4 K5K/ 3JK V96 9G
! K9K5 J=J K65qJK=/ 39J U9J,q /qS
K7q/ 39J vZLV; K65qJK=/
4JKE/i 7J>6 K=V96O
U%EJ=;pJ6 9G :J A U%EJ=;pJ6 9p/L/ U9JV,q= U J6 A4Ap
U%EJ=;pJV6= VV?p v2J{=<My 7 J=J v2LE 74 /pJ" K=V/
7JK=V96O
O ! 2Z=. ,X,\L<*)< F,<!YAoo

5pJVE= VV?p A= J=
A= J=L U"V'V* 7J76 J=J %"J; 9G ;G>J 9f4V== 7V/p K*= '6p ,
?rK; 9p9v]J76J U9J,q 6JV; K* U9J,q "+6 K=V9O
, ?rK; 9p9v]J76J U9J,q /H7=
5pJVE U9J,q 9K>EJ
K>K!/
K* AGK9K59 AGv]J B V9 9G BJ= v]JEL
5J=J9JKB /J
K* AJ5J=. AL>V;JB= 3JK V9 9G
5pJVE=
K95J6 AJV7V{ BJ= v]J9=
v]J9= :E 7 J= AlK 'q6
=J= K5 JV= =J!J= BvbJeb= =J= 9G %NKy AlJ46 =J=
{;/J 3JK V9 9G BJ= 6JV; BJ ;J;>J 4JVE= K=V/ 7JK=V9
9G BJ= K9=^V ;J;>J 4JVE= =J <J V9O
O F,<G!Y0 4-<Aoo
K9K5J=J K65qJK=/ 7e]JE 9G A;VE v]JV6
U9JV,q= A:J 6MK/ B V9O
U9JV,q= U J6 A:J= U J=J; 7P=V.= '6p eb/ 7JI%'6 A4VAp=
7Kv]K/= 7VEJ'6 B V9 <JBJ= ;V5p
'6 ;JK> "V.=
7K/K6K5/i J=L 9G '6 , ?rK; "V.= 7K/K6K5/i J=L B V/
B V9O
U9JV,q= A:JE 7V/p A4VAp=
K* K=EJ U:J* 3JK V9 /V9
A;AG!p U:JV*= U{V A:JE A:J7K//i J=L 9pKy K* K6.qJE
U:J* 74J6 K=V/ 7JK=V96O
U9JV,q= 7V/p A:JE U%EJ=;pJ6 39J /JBJ= 9/q;JV6 :J A
U%EJ=;pJ6 A:J7K//i K=V96O
O F,<G!Y0 )Aoo
K6;g=R7 A4Ap A;e2VE U9J,q "K+/ B V9 <3J H
U%EJ=;pJ6
! :J A U%EJ=;pJ6
" A= JV== 7K/K6K5/i J=L 4M '6 A4Ap <JBJV4= ;V5p '6 ?r;
;qAGv]J6 ;e.J>E B V/ B V9
# %"J; 9f4= /qS7{ 39J U{;/ ;G>J 9f4= /Tq7V{=
7rK/K6K5/i J=L '6 A4Ap
$ ;JK> "V.= 7K/K6K5/i J=L 4M '6 A4Ap
% 'JBJV'= ;JK>
9G 'JBJ' 7K/K6K5"V.= 7K/K6K5/i J=L 4M '6
A4Ap
& , ?rK; "V.= 7K/K6K5/i J=L %J='6 A4ApO
U%EJ=;pJ6 9p/L/ U9JV,q= A > A4Ap A= J= /Tq K6<My B V9O
%"J; 9f4= /qS7V{= U%EJ=;pJ6 74JK5 J= 9V> %"J; 9f4=
, ?rK; 9p9v]J76J U9JV,q= 9G ;G>J 9f4= /Tq7V{= U%EJ=;pJ6
74JK5 J= 9V> ;G>J 9f4= , ?rK; 9p9v]J76J U9JV,q= U%EJ=;pJ6
B V96O
U%EJ=;pJ6 9G :J A U%EJ=;pJ6 9p/L/ U9JV,q= U J6 A4Ap JV"
169
O F,<G!Y0 </Y<,1> Aoo U< 9f4V== '6p U9J,q "K+/ B EJV& UA 9f4=
AGzJeb vZL; 9Jvb9JEV6= '6p U9J,q 4JEL 3JK V9O
U9J,q vZLV; 9K.q/ 39J K9K5J=J K65qJK=/ 6p A > 4JKE/i 7J>6
K=V9O
U9J,q BJ= 4JKE/i 7J>6 JV> A= J= /Tq A;E A;E 74 K6V4q?
J=J 7K=%JK>/ B V9O
O *G'{< =.= Aoo
A= J=
5pJE 9Jvb9JE6 AGzJeb U J6
K9@VE BJV 7=J;?q 74JV6= '6p
K* 7V4J K;K* "+6 K=V/ 7JK=V9O
y K;K*= A4Ap AG!pJ A= J= K65qJ=. K=V9 9G /JBJK4"V
A= J= K6<My K=V9O
85
170
A= J= U< K9@VE= 7= 7=J;?q %JKBV9 K;K* U 9>;J UA K9@VE

7=J;?q K4V9O
# U< 'JBJV'= :peb=:JV" J' %K>V/V& BJ= U, B V/ y

:peb= :JV"= ;qv]V> ?rK; "V.= ";6J";V6= 7e]J= 7 TK/
K65qJ=.
$ ?rK; "V.= '6p K976 B V/ 7JV= =R7 'JBJV'= U J6 U,V =
;M! 9J 7J*J/V6= 8IJ V K974;My =J= 7VEJ'6LE 9p9v]J
% 'JBJV' 9J BJ= U J6 GV? J' %K>V/V& ;6 v]V> ;q=/
?rK; "V.= 39J ?rK; "V.= <J EJ= 7VEJ'6 JV& 'JBJV'=
=R7 U J6 v]JV6 ";6J";V6= '6p 9p9/ 7V3 7<qJ JV>J=
9p9v]J =J!J= K95J6
& 7J*J/V6= 8IJV = -J 6JA;PB 9G y -J 6JE 9p9/ KC J+
A=JV6J 9G >J"JV6J= JV' K6VEJK'/ ?rK; "V.= K6=J7J K95J6
' U J6 VJ> <Ve= K"EJ= BJ Kv]= 9J K->J U< :JV9 3J N 6J
U 6 U J6 'JBJV' 9J 7 PV> U<!JV6 U J6 J' %K>V/V& UA!JV6
BJ K6=J74 ;q 9v]JE 6J 3J J 7<qeb <JBJV/ 9p9/ 6J BE /JBJ
K6K/ =J= '6p "SBL/ 9p9v]J
( <e7JK/ AKzE 7K=9JBL 9v\ 9G L; 7J 7A;PVB U9CJ K4EJ
K#K=EJ =J!J= 9p9v]J
) U,K= Uz6 9G 6V%A = K6=J7J <e7JK/ AlK q/ K95JV6=
K6Ee.
* 9JuJK4= K6"q;6 73 9G AKzE 9JVu= U{V 6MA=.LE
AJ95J6/J;P> 9p9v]J= K95J6
+ U J6 JV' 9p9/ VJ> 9J 7K=9JB <e7JK/ %J>JV6J= '6p
39J y=R7 <Ve= %J> V AGV / 4JV6= '6p 39J 7JVeb
9J ,rJV; ;J>J;J> 7/V6= A;E BJK'= 3J J= '6p 7<My
K9?nvb 9pKy K6VEJV"= K95J6 9G ?rK; "V.= K6=J7J= '6p
7VEJ'6 B V> AGV / 4J6 J=L K6VEJV"= K95J6
, ;J>J;J> v\7J JV= =J!J 9J BJ B V/ A=JV6J ;J>J;J> AJ'J EJ
=J!J 9J BJ :JG"J 39J /F7AlK q/ U J6 6JCJ%JCJ= JV'
9>Kl2/ K976 7e]J U=JV5= '6p 9p9v]J
- U J6 'JBJV'= U,V 9J U!JV> E>J 39J 9SBF J JV== ;J>J;J>
AlK q/ U J6 JV' K6VEJK'/ ?rK; "V.= JV'= A;E K974
CJ EJ %>J= ;/ "SBL/9p K6=J7J 9p9v]J
. U' 9G *rJ 9p9BJV== A;E 6MA=.LE K6=J7J;P> 9p9v]J
O .Y $Y<
.Y <0> =)G7< Aoo U9J,q BJ= 7= K7q/ 4JKE/i AMN:JV9
AlJ4V6= '6p 7VEJ'6LE AG!p ;q /qJ
;q%J=L K6VEJ" K=V/ 7JK=V9 9G
/JBJV4= %J N=L= ?/qJ9>L K9K5J=J K65qJK=/ B V9O
O $5=,1Aoo
U9JV,q= K6'v2 /BK9> 3JK V9 9G BJ
5pJVE=
5L6 BJ= 4JKE/i 7J>V6= 7VEJ'6LE 9pE K69qJVB= '6p 9p9BJ= =J B V9O
/BK9V> K6;gK>K!/ 3q ';J B V9 <3J H
A= JV== 6M4J6
! AGK? 9f4= /Tq7V{= 6M4J6
" 6p U J6 FA B V/ 7J 3qO
O <7 ,XG70 =,,0#>AooU9J,q A= J= /qS K65qJK=/ /JK=V!= ;V5p 9G
/F /Tq K65qJK=/ 8=V; BJ= 7V/p 3q9FAV== '6p AljJ9p JE 9pVE= KBAJ9
Al2K>/ K99=.L 6MV;J4V6= '6p A= JV== K6 * U7? K=V9O
O `.$< *Y#Aoo U9J,q AJ5J=. 9J K9V?@ K>K!/ JV4? J=J BJ=
A > 9J UK!/ ?/q AJV7V{ BJ=
U%EJ=;pJ6 39J :J A U%EJ=;pJ6 39J U J6 A4Ap 9J U J6 ;q /qJV
7q.
K=V/ 7JK=V9O
O ! 2Z=. G#0 =)0<*k< $X<=' 4U%Gv =,G23 =,(<)Aoo A= J=
A= J=L U"V'V* 7J76 J=J K6;g=R7 A > 9J U U J6 ;qv]J6 9G J' %K>V/V& = ; U J6 ;qv]JV6
<J/JEJV/= '6p U J6 , U7J/J?rE #J* 9J U'K* 9J y=R7 6p
U J6 v]JV6= 7= U< K6EK;/ =JvbJ ?rK; ".V 9p9BJ= K=V/ BE
BJ= K6=J7J K95J6 9G y v]J6 9G 73 K6=J7J U9CJ
JV>J= 9p9v]J =J
! U< 'JBJ' U'K* #J* 39J 6p U J6 'JBJV'= 7JV? 9Kv]/ JV&
BJV/ ?rK; "V.= <J/JEJV/= '6p K 5=V.= 7e]J 9>l26 K=V/
B V9 /JBJ K65qJ=. =J
" U6Y 7V3 6p U J6 'JBJV' ?rK; "V.= K6=J74 <J/JEJV/= 9p9v]J
9G
VV?p U< U6Y<J6 9p9/ B V9 BJ= 7J>6LE ?/qJK4
171
86
172
4x'2 (X<7
/ <!6 U J6 ?rK; V K976 39J v2Jv]p BJK6 = ;J>J;J> ; 'M4

JV&
= ; U J6 v]JV6 39J BJ= K6 *v] U J6 v]JV6 J'
K=V/ BE /!6 6MA=.LE K6=J7J;P> 9p9v]J= K95J6
3 JB/ ?rK; "V.= 7J3K; K%K FAJ 74J6 9G K6 *v] K%K FAJ
U Vf4r U7=. = 9p9v]J AlV q K95J6
4 7JK6V/ 7K// U J6 ?rK; V ,MK9EJ <J EJ= BJ/ B V/ ={J =J=
9p9v]J
5 K976 #*6J 9G 4M#q*6J AlV q U6JK*? 74J6 9G y
U6JK*V?= 8=; U6JK*? 7J7 9pKy 9J /Sq7{ U6JK*V? K>K!/9p
K99=. 9G U6JK*? 74JV6= A;E Al2V K95J6
6
5J=J= 5L6 7.L/ U J6 7K95JV6= 7VEJ" 9G BJ ;JK6EJ
%>J= '6p 4JEL 9pKy 9J /Tq7{ K65qJ=.
7
5J=J= 5L6 7.L/ U J6 7K95J6 U< U< 9v]J= 7K=V7K{V/
?V/q U=BJ U4 EJ <J V9 /JBJ= 9.q6J 9G U< /qqS7{ /qS
y=R7 U=BJ 74J6 =J <J V9 /JBJ K65qJ=. 9G BJ= 7K/
K6Ee. 9G
8 ?rK;V = 6p U J6 7 J= K6=J7J= 9p9v]J K6=R7.O
5J=J= K95J6
J V6= 6p U J6 K95JV6= K/K=y 9G BJ
y=R7 U J6 K95JV6= BJK6 = 6VBO
173
-=,3X $5=,1
O F,40 <0> <G$ *r=$|<G)0 2Z=. G#0 )X -=,3X $5=,1Aoo
U9A= J=L !JV/= U J6 7K/J6 BJ= ?rK; "V.= AMK95J= '6p :K9@p /BK9> "+6
K=V/ 7JK=V9O
7K= y :K9@p /BK9> 5J=J
= 5L6 U J6 7K/J6 /qS
/4 VV?p 7.L/ K9K5 J=J K65qJK=/ 7e]JE "K+/ B V9O
7 5J=J
<JBJ K &M 3J M 6J U 6 U9A= J=L !JV/= U J6
7K/JV6 K6VEJK'/ ?rK; "V.= '6p :K9@p /BK9> "+V6= VV?p
A= J= K9K5 7.E6 K=V/ 7JK=V9 9G <K4 y=R7 K9K5 7.L/ BE
/JBJ B V> U< 7K/JV6 BJ 7V<J'p B V9 UA 7K/J6 BJ=
K95J6J9>L ;JK6EJ %K>V/ 9J5p 3JK V9O
y=R7 :K9@p /BK9> K* *rJK U9J,q J=J 7K=%JK>/ B V9O
y=R7 *rJK U9J,q AGK? 7K/JV6= ;JK>
9G BJV/ K6<My
?rK; "V.= A;J6 AG!p 7K/K6K5 A;e2VE "K+/ B V9 9G
A= J= /qS ;V6J6L/ U J6 9pKy BJ= U%EJ=;pJ6 B V96O
;JK>V = 7K/K6K5 ;JK> /qS ;V6J6L/ B V96 9G ?rK; "V.=
7K/K6K5 U<Y3 4= @J K@ 7K/K6K5 /qS ;V6J6L/ B V96O
U< U{V U J6 7K/JV6 U J6 U<Y3 4= @J K@ 7K/K6K5 6J UA
U{V ?rK; "V.= 7K/K6K5 ?r; 7K=%J>V = /iJ95JV6 y
7K/JV6= ?rK; V4= J=J K69qJK%/ B V96O
*rJK U9JV,q= A > A4Ap 4M 9FAV== U;EJV4 /JBJV4= 7V4
K5K/ 3JK V96H
/V9 ?/q 3JV U< y U;EJ4 U?@ B EJ AVi /JBJV4=
=JK5 J=L". J<q:J= "B. 6J =J 7<qeb /JBJ=J v2LE 7V4 9BJ>
3JK V96O
U< 7K/JV6 :K9@p /BK9> "+6 =J B EJV& UA 7K/JV6= 7V/p
v]JEL ?rK; BJV/ /JBJ= %J N=L
9FA= 7P.q K=9J= 7= 7V/p
;JVA BJ= :K9@p /BK9V> K:6g=R7 U J6 %NKy 6J 3JK V> /JBJ=
;JKA ;P> ;'M=L= 6Mp6 AJ/ ?/JG? 9G 6K5 J* ?/JG? BJV=
%IJ4J 74J6 K=V96 9G ;JK>
BJV/ y BJV= %IJ4J 74J6
K=V96O
87
174
5J=JE <JBJ K &M 3J N 6J U 6 U9A= J=L !JV/= U J6

7K/J6 BJ= ?rK; "V.= AMK95J= '6p :K9@p /BK9> "+6 K=V/
9J5p 3JK V9 <K4 y 7K/JV6= 6Mp6 K/6 %/N3qJG? ?rK;
;JK>V = K6 * K>K!/ 4=!Jvb U7? K=EJ y=R7 :K9@p /BK9>
"+V6= 4J9L V=6O
U<V{V 7 5J=J
= 5L6 :K9@p /BK9> "+V6= 4J9L =J
BE UA U{V 7K/JV6= ;JK> 4=!Jvb 7JK= &E ;JVA= ;V5p BJ
"+V6= '6p 5J=J
= 5L6 7VEJ'6LE K9K5 7.E6 K=V96 9G
:K9@p /BK9> y A;E K/zJeb B 9J= 7PV9q %J>M K=V96O
y :K9@p /BK9V> ';J T/ U;J* V3q= 6Mp6 V5q 3q K6;g=R7
VV?p K9K6VEJ" K=V/ B V9 <3J H
J KA K9 K; %NpEJ> 8J AJK*qK8V *
! J KA K9
K6* AJK*qK8V * 9G
" 7K/={J ,J AE 7AB 6p U J6 A= J=L .7O
y :K9@p /BK9V>= 7K=%J>6J 9pE ;JK> 9B6 K=V96O
7K/JV6= JE 9pVE= KBAJ9 U<:JV9 K6=LK{/ BE :K9@p /BK9V>=
7K/ 9FAV== JE 9pVE= KBAJV9 UA:JV9 7K/JV6= !=V%
K6=LK{/ B V9 H
/V9 ?/q 3JV U< A= J= K6' !=V% y /BK9V>= JE 9pVE=
U J6 K9V?@ K6=L{J= '6p v2/e K6=L{ K6VEJ" K=V/ 7JK=V9O
:K9@p /BK9V>= JE 9pVE= KBAJ9 /FAlV q K6=L{J K=V7J*qAB
K6=L{J K=V7J*q U7? =J=
;JVA= ;V5p ?r; 7K=%J>V = K6 *
U7=. K=V/ B V9O
U< U{V A= J=
;V;q AebM BE U< U9A= J=L !JV/= U J6
7K/JV6 "K+/ :K9@p /BK9> AVebJ@'6 :JV9 J' K=V/V& 9G
BJ= K9=^V ?rK; "V.= U J6 K:V<J" 6J UAV{V A= J=
AGK? 7K/JV6= ;JK>V = K6 * B V/ 7J 4=!JVvb= K:KV/
K>K!/ JV4? J=J y 7K/J6V
5J=J= 7VEJ" B V/ U=BJ
K4V/ 7JK=V9O
5J=J= K95J6 6M<JEL :K9@p /BK9> "+6 J=L U J6 7K/J6
:K9@p /BK9> J 6
AV6=
6G J 6 =
VV?p A= J=L 7K/J6 9K>EJ ".p B V9O
5J=JE U9A= J=L !JV/= 7K/J6 9K>V/ ;6 U J6 7K/J6V
175
9M(J V9 <JBJ A= J= 9J U J6 v]J6LE /qS7V{= A=JAK= ;JK> J6JE

9J 9p9v]J76JE 6J
39J <JBJ= U{V A= J= 9J U J6 v]J6LE
/Tq7{ /Tq 7.L/ U J6 :K9@p /BK9> K9K5 7V<J'p BE 6JO
6JV;
O < ,< <) 2Z=. -=,3X $5=,1Aoo

%J 9J"J6 ?rK; :K9@p /BK9>
K* :K9@p /BK9> v]JK7/ B V9O
%J 9J"J6 ?rK; :K9@p /BK9> /H7=
5pJVE :K9@p /BK9>
9K>EJ K>K!/ 5J=J
= 5L6 "K+/ K* *rJK U9J,q =
7= 6pvb B V9 9G BJ= J=J 7K=%JK>/ B V9O
O < ,< <) 2Z=. -=,3X $5=,1 Z<=~ F,<!YAoo

A= J= A= J=L
U"V'V* 7J76 J=J %J 9J"J6 ?rK; :K9@p /BK9> *rJK U9J,q 6JV; K* U9J,q
"+6 K=V9O
K6;g=R7 A4Ap A;e2VE *rJK U9J,q "K+/ B V9 <3J H
U%EJ=;pJ6
! ;JK> "V.= 7K/K6K5/i J=L K/6'6 A4Ap
" %J ?rK; "V.= 7K/K6K5/i J=L K/6'6 A4Ap
# %J K?V= AKB/ AGK? 6VB6 =R7 4M '6 A4ApO
U%EJ=;pJ6
6pJ6p A4Ap". A= J= /qS K6<My B V96 H
/V9 ?/q 3JV U< 7 5J=J
!
" = 5L6 A4Ap".
A= J= /Tq
/4 VV?p v2L T/ ;JK> ".
U{ ;/
?rK; "V.= AG"+V6= AKB/ JV>J%6JzV; K6<My B V96O
U%EJ=;pJ6
6pJ6p A4Ap". /JBJV4= K6<MKy= /JK=! B V/ K/6
9FA= U;EJV4 /JBJV4= 7V4 K5K/ 3JK V96 H
/V9 ?/q 3JV U< y=R7 U;EJ4 U?@ B EJ AVi /JBJV4=
=JK5 J=L". J<q:J= "B. 6J =J 7<qeb /JBJ=J v2LE 7V4 9BJ>
3JK V96O
U%EJ=;pJ6
6pJ6p A4Ap".
5pJE 39J K9K5 J=J K7q/
4JKE/i 7J>6 K=V96O
*rJK U9J,q
K* AGK9K59 AGv]J B V9 9G BJ= v]JEL
5J=J9JKB /J
K* AJ5J=. AL>V;JB= 3JK V9 9G BJ= 6JV;
BJ ;J;>J 4JVE= K=V/ 7JK=V9 9J BJ= K9=^V ;J;>J 4JVE= =J
<J V9O
88
176
6J 9G y ?rK;V = U J6 'q 9J 4JE AlV q U J6 J4J>/ /qS 7r4 K,zL

9J =JVE= 5L6 BJ UzJ V<J"p B V9 6J 39J U4 K>EJ J 6
AV6= 6G J 6 = 5L6 K6<My U J6 K=KA:J= y=R7 U J6 3q 4J9L K=V/
K5 J=L B V96 6JO
U J6 ?rK;V = ;S/Mp= A;E /JBJ= :K9@p /BK9V>= KBAJV9 U< 3q
';J 3JV UA 3q
6p U J6 J V6= 5L6 6MV;JK4/
/q6AJV7V{ /JBJ= ;V6J6L/ 9pKy= 7= 6pvb B V9 9G /JBJ=
;S/Mp= 7PV9q /JBJ= 9J /JBJ= ;V6J6L/ 9pKy= U J6 'q 9J 4JE B V/
BJ ;My 3JK V9O
O *r2<4) ,X7Aoo
*rJK U9J,q %IJ4J= K:KV/ K* 7?JAK6 !=%
JV=J7 K=V/ 7JK=V9O
A= J= U9JV,q= AKB/ 7=J;?qzV; ;JK>
9G ?rK; "V.= U;J*
%IJ4J= / ?/JG? 7?JAK6 !=% B V9 BJ K65qJ=. K=V9O
7V/p ;JA U?@ B 9J= 76= K4V6= ;V5p ;JK> v2/e 9pJG ,rJ8*
9J U%V = ;J5pV; :K9@p /BK9V> 7?JAK6 !=% 74J6 K=V96O
7?JAK6 !=% U%V = ;J5pV; 74J6 =J B V> y U%V = 3q
AG"VB= '6p U J6 !=% 7V4E B V> /JBJ U%V = V3q= AKB/
eb:Mqy K=EJ K4V/ B V9O
O )X F <) G Y0 *0 ;<'< *Z'<) r<=( <0 *< G,Aoo

5pJVE=
5L6 U J6 %IJ4J 6J4JEL 3JK V> BJ <K4 ;JK>V = U4 K>EJ AJ9pvb B 9J= 7PV9q
7V4E BE 39J }*J EJ U8>J= JV4?J5L6 U J6 U JlJ6L= U{V BJ <K4 y
JV4V?= 7PV9q 7V4E BE /JBJ B V> 6J4JEL %IJ4J AGzJeb 4JE U4 K>EJ J 6
AV6= 6G J 6 = 5J=J
39J U JlJ6L J 6
=
5J=J
= 5L6 =R7 V'q= eb:Mqy B EJV& 9K>EJ ".p B V9 <JBJ y
U4 K>EJ 9J U JlJ6L= AlK 9f*V6= A;E 6p A > V'q= 7= "JK5 J=
7J V9O
O ;<'<Aoo K/6 9FAV== K5 J> <J9F %J>M JV& =R7 7V/p %J

9J"JV6= ;JK> /JBJ= %J 9J"JV6= U J6 K?{J5L6 ?rK; 9p/L/
9FAV==
K5 J> <J9F ;q=/ JV&6 =R7 7V/p ?rK; AlV q /JBJ= ;P> ;'M=L=
AJVC AJ/ ?/JG? BJV= :K9@p /BK9V> %JI4J 74J6 K=V96O
7 5J=J
K>K!/ 7V/p ?rK; /JBJ= AlV q ;JK>
/Tq 7V4E %IJ4J= BJV= :K9@p /BK9V> %IJ4J 74J6 K=V96O
U J6 U{V
5J=J= 5L6 7V4E U J6 %IJ4JE *J J= :"gJG? 'KC/
3JK V> y :"gJG? K6 *v] 7P.q *J JE > EJ JKAV/ B V9O
<K4 U J6 U{V
J 6 9>9F B 9J= A;VE U J6 7%K>/ :K9@p
/BK9V> 74 %IJ4J= BJ=
5J=JE K65qJK=/ %IJ4J= BJ= B V/
_%/= BE /JBJ B V> y _%/= BJV= y /BK9V> %JI4J 74J6
K=EJ <J V/ B V9 U<6
J 6 9>9F BE 6J O
K9K5 J=J K65qJK=/:JV9 :K9@p /BK9V> U;J* 3q ';J =JK!V/ B V9
9G K9K6VEJ" K=V/ B V9O
O . ?0> ,< )X F <) 4?G/< 4?=,(< .<=1 .< G$ *<=0G,) )<Aoo

J 6 9J U J6 K9K5= 5L6 U J6 %IJ4J 9J !=% 74JV6 9J5p U 9>;J
J=V.
;JK> 7/p{ 9J 7V=J{:JV9 U J6 ?rK;V = 7J7p ;'M=L 9J 6p U J6 AMV<J"
AMK95J ;J V/ 7JK=V96 6JO
O 49,<'*m 2Z=. G#0 )X -=,3X $5=,1Aoo
7V/p AG9J47
7K/J6 BJ= AG9J47 ?rK; "V.= AMK95J= '6p K9K5 J=J K65qJK=/ 7e]JE K*
:K9@p /BK9> "+6 K=V9O
y :K9@p /BK9> K* *rJK U9J,q J=J 7K=%JK>/ B V9O
y *rJK U9J,q AGK? AG9J47 7K/JV6= ;JK> 9G BJV/
K6<My AG9J47 ?rK; "V.= A;J6 AG!p 7K/K6K5 A;e2VE "K+/
B V9 9G /JBJ=J K9K5 J=J K65qJK=/ 7e]JE ;V6J6L/ 9G K6<My
B V96O
7V/p AG9J47 ?rK; U J6 AG9J47 7K/JV6 /JBJ= %J N=L=
O `=$ <'<7Aoo U< U{V U J6 ;JK> :K9@p /BK9V> %IJ4J 74JV6

39J
5pJE 9J U J6 K9K5= 5L6 7V4E U J6 !=% 74JV6 U!>J7 V=6 UA
U{V *rJK U9J,q ;JK>V = K6 * B V/ y=R7 9V EJ V3q= AKB/ BJ= K/K=y
KBAJV9 6K5 7IK%? ?/JG? BJV= {K/7P=. J4JE K=V/ 7JK=V9O
O -=,3X $5=,1 G_< G/< XAoo
U J6 ?rK;V = :K9@p /BK9V>=
KBAJV9 U< 3q ';J 3JV UA 3q U J6:JV9 BvbJeb=V<J"p 9J 4JE9 U<J"p B V9
177
89
178
{<'2 (X<7
73; 4M 9FA= 7P.q K=9J= 7= 7V/p ;JVA BJ= :K9@p /BK9V>

/JBJ= ;JKA ;'M=L= 6Mp6 AJ/ ?/JG? 9G 6K5 J* ?/JG?
BJV= %IJ4J 74J6 K=V96 9G ;JK>
BJV/ y BJV= %IJ4J 7r4J6
K=V96O
U J6 AG9J47 ?rK; /JBJ= %J N=L= 73; 4M 9FAV== ;V5p
/JBJ= K6' _&JE y :K9@p /BK9V> %IJ4J 74J6 K=V/ 7JK=V96
K e\ UA U{V AG9J47 7K/JV6= ;JK> /JBJ= K6' _&JE y
/BK9V> %IJ4J 74J6 K=V/ 9J 6J K=V/ 7JK=V96O
:K9@p /BK9> J 6
AV6=
6G J 6 =
VV?p U J6 AG9J47 7K/J6 K* A= J=L 7K/J6 9K>EJ ".p
B V9O
=2`<(>)$<
O (X<G70 *rG7< Aoo
5pJE ;6 U J6 7K/JV6= U{V 7V<J'p
B V9 <JBJ 4M 9FAV== K5 J> <J9F %J>M JV& <JBJV/ AJ5J=./H 6Mp6 7J?
'6 ?rK; K6<My JV&6 9G <JBJV/ K?{J5L6/JV<J"p U7?JE 9J 9SKV/ 6Mp6 7IJ%
'6 ?rK; K6VEJK'/ JV&6O
O =,G23 49f<Aoo K9@E 9J 7AGV"= 7K=7e]L K &M 6J 3JK V>
5pJVE
U<J"p /qS7{ 3q ;6 U J6 ;q /qJ <JBJV A= J= A= J=L
U"V'V* 7J76 J=J
5pJVE= VV?p U<J"p /qS7{ 9K>EJ
K6<My V=
! K?{J5L6 3q K?{J5L6/J 7K/= ;J5pV; 7K?{. "B. J=L U J6
9pKy
" K?{J5L6/J 3q ;6 U J6 7K?{. 7K/ <JBJV/ U J6 ;JK>
U J6 9pKyV K6VEJ" K=EJ /JBJV U J6 K?{J5L6/JV<J"p U7?JE
9J 9SKV/ 7.J>L9:JV9 7P9qK65qJK=/ U J6 U;EJV4= '6p 7K?{.
K4V/ 9J U4 EJ= 9p9v]J K=V/ =JK' B6 9G y U;EJ4 JV> y
K?{J5L6 9pKy ;JK>V = 5LV6 %J N=L K=V/ 9J5p 3JV 6 9G
# K?{J5L6/JV<J"p U7?J 3q U J6 7K/JV6= ;6 U J6 U7?J 9J
9SK <JBJ U<J"p /qS7{ A= J=L U"V'V* 7J76 J=J
5pJVE= VV?p K?{J5L6/JV<J"p U7?J 9K>EJ U#[email protected] V=O
O =m*`>7 *G'{< =.= Aoo A= J= A= J=L U"V'V* 7J76 J=J
K9K5 J=J K65qJK=/ 7e]JE K?{J5L6/J AGzJeb K9@VE A= J= 9G U<J"p /qS7{V
7V4? 74JV6= VV?p K7{LE 7V4J K;K* "+6 K=V/ 7JK=V9O
O .<=1G 0 ,<(X ,<( $<Aoo
5pJE 9G K9K5= K95J6 AJV7V{
U J6 ;JK>
/JBJ= 7K/JV6
5pJE 9G K9K5= K95J6}K> <3J<3:JV9
;JK6EJ %>J K6K/ K=V96
! K9K5 6M<JEL /JBJ= 7K/JV6 K?{J5L6/J ;qAP%L %J>M K=V96 9G
K9K5 J=J K65qJK=/ A;VE= ;V5p BJ U<J"p /qS7V{= AKB/ U=K'Kr
179
90
180
K=V96
" /JBJ= 7K/JV6 K?{J5L6/JV<J"p U7?J 9J 9SKV/ K6<My 9pKy"V.=
;5p B V/ "VC 6Mp6
%/N3qJG? 9pKyV
39J U<J"p /qS7{
/qS K>K!/:JV9 6p U J6 6M7J/ K65qJ=. K=V> UA 6M7JV/
K?{J5L6 KBAJV9 7K?{. 74J6 K=V96
# /JBJ= 7K/JV6 <K4
J 6 9>9F B 9J= 7P9q B V/ K?{J5L6/J
;qAP%L %J>M B EJ 3JV /JBJ B V> BJV
5pJE 9G K9K5=
K95JV6= AKB/ AMAJ;Ap K=EJ AGV?J56 K=V96 9G K9K5 J=J
K65qJK=/ A;VE= ;V5p y=R7 AGV?JK5/ ;qAP%L U<J"p /qS7V{=
AKB/ U=K'Kr K=V96
$ U;J* v2J:JK9 ;q A;VE= eb/ K9? ?/JG? A;E K?{J5L6 ?rK;
<JBJV/ 7VEJ'6LE /JKi K?{J 7J6 BJ K6K/ K=V96
% AlP.q K6' !=V% K?{J5L6/J ;qAP%L 7.E6 %J>M K=V96 9G
& U<J"p /qS7V{= K>K!/ 6M;K/ 9pK/V=V
;6 U J6 9pKyV
K?{J5L6 KBAJV9 K6<My K=V96 6J K<K6 6p U J6 ;JK>V = 5L6
K?{J5L6 K&V>6 9G K/K6 /JBJ 7K=/pJ" K=EJ JKAEJV&6 39J
?SG!>J :GV"= J=V. ;JK> /qS ;q%Np/ B EJV&6O
!
"
#
$
%
&
O <7 0 $X<=' 5 G$ .?=Âoo

JE = 5pJV4?
AV6=
6G 5pJV4?
K:6g=R7 <JBJ K &M 3J N 6J U 6
5pJE 9G
K9K5= K95J6 U;J/JV9 7K=%JK>/ U J6 K?{J5L6/J ;qAP%L= '6p ;JK>
/qS
9pKE/ U J6 V3q= '6p /JBJV JE = 74J6 K=V/ B V9 6JO
J;4J6L =J6L K6Ee. J 6
AV6=
6G
J 6 39J U J6 K9K5 9J JV4V? K:6g=R7 <JBJ K &M 3J N 6J
U 6
5pJVE= 5L6 K?{J5L6/J ;qAP%L 7K=%J>6J= VV?p
7VEJ'6LE U J6 K'K6A7 J;4J6L= '6p A= J= JV4? J=J
;JK> V >J VA 74JV6= K95J6 K=V/ 7JK=V9O
O *rG,2 *=0'2Y) $X<='0 `.$<Aoo U<J"p /qS7{

7VEJ'6LE AB J=LAB U J6 7K/JV6 9J BJ= G? K9V?V@ U>
4vbJV9' U7? =J= K6V4q? K4V/ 9G
5pJVE= VV?p
O .<=1 G *G'2 =)G'Y2)< *r'<)AooU<J"p /qS7{

5pJE 9G
K9K5= K95J6 U;J/JV9 U J6 7K/JV6 7K=%JK>/ U J6 K?{J5L6/J ;qAP%L
AlV q ;JK> V Alj9 A9q7 J= JK="=L 7V4? K6V4q?6J K4V9O
O =2`<(>) 2Z=.G 0 ,<(X ,<( $<Aoo
5pJE 9G K9K5= K95J6
AJV7V{ U J6 K?{J5L6 ?rK;
/JBJ= U7?J 9J 9SK K9V9 9MKAB JV=
5p9AJVE= AKB/
181
K?K!V96 9G K?{J5L6/J= U;EJ4 U?@ B 9J= 7= K6V'V

'6
4{ ?rK; KBAJV9 U<J"p K=9J= U%J K=V96
;JK>
/qS 7.L/ ;qAP%L 6M<JEL 9p9BJK= 7K?{. /JKi
K?{J 74J6 JV> BJK'= 3JK V96
K?{J5L6/J AlV q ;JK> 39J /JBJ= 7K/K6K5 /qS 74 A >
J 6J6M" JV4? ;JK6EJ %K>V96 9G K?{J5L6/J %NKy= 5L6
/JBJ= A > 4JE 4JKE/i 7J>6 K=V96
/JBJ= 7K?{V.= 6gK/ <J%J K=9J= '6p A;E A;E "SBL/ U J6
7=L{J K4V/ K/K6 9J5p 3JK V96
/JBJ= A; U?r.L= ?rK; "V.= U*r, K6E6 9p/L/ 6p U J6 U*r,
K6EV6= A4Ap B V96 6J
/JBJ= K?{J5L6/J AlV q ;JK>V = K9=RV U J6 K:V<J" 3JK V>
9G ;JK>V = K6 * B V/ BJ= U J6 7K/ J= 6J 7J V> K/K6
7K/ JV== '6p U<J"p /qS7V{= K6 * JV946 K=V/ 7JK=V96
9G
Al2V U<J"p /Tq7V{= KAJeb ;JK6EJ %K>V96 9G
U<J"p /Tq7V{= K>K!/ 7P9q 6MV;J46 9pK/V=V
/JBJ=
K?{J65L6/J J> A;J B EJ= 7= K/K6 K?{J5L6/J &JKCEJ <J V96
6JO
<K4 U J6 K?{J5L6 ?rK; /JBJ= K?{J5L6/J %NKy= ?/q 7J>V6 9p3q
B6 39J <K4 K?{J5L6/J JV>= U J6 A;VE Uv2_&JE K?{J5L6/J
&JKCEJ <J6 39J /JBJ= 7K?{V.= 6gK/ AlV q 9pJB/ K9=R7
K=V7J*q 7J EJ <JE 39J 9J5p/J K9K5 >G#6 JV' 6M7Kv]K/
/qV9p 9VB>J V=6 /JBJ B V> K/K6 9J U{;/ /JBJ= K7/J
9J K::J9 9J 'JK;64J=
:JV9 39J U<Y3:JV9 K9K5 J=J
K65qJK=/ {K/7P=. 74J6 9G K?{J5L6/J JV' /JBJ= '6p 9pKE/
3q ;JK> V U8=/ K4V/ 9J5p 3JK V96O
91
182
"
)=,92 (X<7
7VEJ'6LE K9V9K%/ B V> U J6 9pKy= K6 * B V/ 9y9p 9J

K99SK/ "B. K=V/ 7JK=V9
y 7K/JV6
5pJE 9G K9K5= K95J6 <3J<3:JV9 7JK>/
B V/V& K 6J BJ U4K!9J= '6p 7VEJ'6LE /4eb 9J 7=L{J
7K=%J>6J K=V/ 7JK=V9 9G
# K9K5 J=J K65qJK=/ 6p U J6 {;/J 7VEJ" K=V/ 7JK=V9O
*0<( 'j ,9 *s=$

O (<0<
0 (>) 2Z. <'<1G$0 <G'2 .<)X 0<0 'jAoo U J6
9pKy 5J=J
= 5L6 74 ?r; J4J>V/= U J6 JV4? 7J>6 K=V/ v2L J=
K=V> 39J 9p3q B V> K/K6 K/6 ;JA 7<qeb K96J?r; J=J4V 39J 7JI% BJ'J=
*J J 7<qeb 3q 4V 39J :E 4V 46LE B V96O
O `.$< *Y#Aoo /4 VV?p 7.L/ K9K5 AJV7V{ U<J"p /qS7{

K>K!/ JV4? J=J BJ= A > 39J U 39J
J V6= U J6 K95J6 >G#6 K=EJ
U J6 K? 9J K V?J=V %J N=L K=9J= 6M;K/ K4V> K/K6 7IJ% BJ'J= *J J 7<qeb
3q 4V 46LE B V96O
O (<0<
19 ) =07< =2z 4UG Y F <) @=^ 0<0 'jAoo U J6 K? =
K7/J ;J/J 9J K::J9 5J=J
= K95J6 >G#6 K=EJ U J6 K? AlV q %NKy
AlJ46 K=V> K/K6
BJ'J= *J J 7<qeb 3q4V 46LE B V96O
O .<=1 $YD $@&Y (X<G70 =,(<) 19 G)0 'jAoo
U J6 ;JK>
%/N3q 5pJVE= U J6 K95J6 >G#6 K=V> K/K6 7JI% BJ'J= *J J 7<qeb 3q4V
46LE B V96O
U< U{V J4J>/ 7 5J=J
= 5L6 U J6 3q4 JV=J7 V=
UA U{V J4J>/ BJ= =JE 74J6 JV> J4JE T/ 4V= 3q
AlP.q 9J BJ= U J6 G? AGK? ;KB>JV U< J=V. y 3q4
JV=J7 =J B EJV& UA J=. B V/ djM/ {K/= '6p {K/7P=.
KBAJV9 74JV6= JV4? K4V/ 7JK=V9O
O )?G.<='$ )?*=\L=$0 4.G7 . ?0>0 =,=).G7 < 0<0 'jAoo U J6
;KB>J %/N3q 5pJVE= K9K5 U;J/JV9 /JBJ= ;JK>
/qS
6MV;JK4/
6M7Kv]K/ JV> 6"4 3q 39J K'K6VA= K9K6;VE U J6 J' K=V> K/K6
BJ'J= *J J 7<qeb 3q4V 46LE B V96O
O (<0<
19 ) 0<0 'jAoo U J6 9pKy 5J=J
= K95J6 ;J6J BE
6J =R7 ?Ky %JK>/ U J6 <e7JK/ U J6 7K/JV6 9p9BJV== '6p K9Kz K=V>
39J :JCJ K4V> 39J U J6 K9Vz/J 9J :JCJK*EJ= 7K/K6K5 KBAJV9 BJ K9Kz
K=9J= '6p 39J :JCJ U4 EJ= '6p AG"B K=V> K/K6 K/6 ;JA 7<qeb J=J4V
183
92
184
39J
BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
3q4V
O =).R$. . ?0> 5<G00 .5<G0 . ?0> *r'<G)0 'jAoo

U J6 ;JK>
J4? 5pJVE= 5L6 U#JK@/ K6;g/; ;'M=L BJV== ; BJV= U J6 ?rK; V ;'M=L
74J6 K=V> K/K6
9&= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
U< U{V J4J>/ 75J=J
= 5L6 U J6 4 JV=J7 V=
UAV{V J4J>/ BJ= =JE 74J6 JV> y=R7 U J6 >G#6 6J
B V> AGK? ?rK; V U< ;'M=L 7V4E B / 9G y=R7 >G#6
K=EJ ;'M=L KBAJV9 U< 3q 74J6 =J B EJV& BJ= 7J3qV p=
7K=;J. 3q /JBJV 74J6 K=9J= JV4? K4V/ 7JK=V9O
O '? Y
>G#6 K=EJ U
J=V. AJG#JK/
46LE B V96
7<qeb J=J4V
B V96O
O F, < )> (.Y ,< 1 < G 0 'jAoo U J6 ?rK; U J6 U9 J 6L

5;q#* =^ K=V> 39J %J>J EJ U"V> 39J BJV J"J EJ U6 EJ= '6p U J6
J' K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
U J6 ;JK> U J6 U9 J 6L > J * =^ K=V> 39J %J>J EJ
U"V> 39J BJV J"J EJ U6 EJ= '6p U J6 J' K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
O F, < )> (.Y ,< 1 < G *rG0<= $ 0<0 'jAoo U J6 9pKy U J6
U9 J 6L 5;q#* 9J > J V* G?"BV.= '6p 39J BJ= '6p 3q !=% 9J
A=9=JVB= '6p 39J 6p U J6:JV9 BJV J"J EJ U6 EJ= '6p U J6 9pKyV
7V=JK%/ 9J FAJKB/ K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J=
*J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
)<0 F)<= 2 *r'<G) ,X&Y$<0 'jAoo U J6 9pKy

J V6= K95J6
J6 4M#q*6J AlV q U6JK*? K4V/ 9p3q B V> K/K6 <K4 4M#q*6J=
?JK==L '!; BE /JBJ B V>
39J <K4 4M#q*6J= J=V. 'L96 BJK6 #V* /JBJ B V> &E ;JA
39J K/6 BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE
O ="G. $<G10 <G 92 r5# ,< *rG0< #<0 'jAooU J6 9pKy U J6 K-V;
/JV>= JV' G?"B. K=V> 39J 6p U J6 9pKyV
BJV/ G?"BV.
7V=JK%/ 9J FAJKB/ =V> 39J 6p U J6:JV9 BJV J"J EJ U6 EJ= '6p
U J6 J' K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb
3q4V 39J :E 4V 46LE B V96O
O 48 2Z. < 0G#0 'jAoo

U J6 9pKy 5J=J
= U J6 K95J6
>G#6 K=V> K/K6 4M 9FA= 7<qeb J=J4V 39J 4? BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
U J6 ?rK; 5J=J
= U J6 K95J6 >G#6 K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V 39J
:E 4V 46LE B V96O
U J6 U*r, K6E6 39J ?rK; 9p/L/ 6p U J6 9pKy 5J=J
= U J6 K95J6 >G#6 K=V> K/K6 4M 9FA= 7<qeb J=J4V 39J
4? BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
O (<0<
19 G)0 'jOoo U J6 ;JK> 5J=J
= K95J6
>G#6 K=V> K/K6
9FA= 7<qeb J=J4V 39J 7JI% BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
O -=,3X $5=,1 ,9 F Z! =)7) $5=,G10 &Y <$V4<G$0 'jAoo
U J6 9pKy ?rK; "V.= U J6 :K9@p /BK9V>= 3q J/mAJF K=V> /&=R7
K=V> 39J AF VV?p K6V'= JV' 9pE K=V> K/K6 K/6 9FA= 7<qeb
J=J4V 46LE B V96 9G K5 e\ K/K6 3q4V 46LE B V96O
O =)[=k $X<=' -9G 0 'jAoo U J6 9pKy

J V6= 5L6 9?p
7J>6LE U J6 K6uK KAJeb 9J U=JVE4J4 :G" K=V> K/K6
9FA= 7<qeb
J=J4V 39J 4? BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
,X< X<Aoo U J6 ;JK> /JBJ= 7K/JV6= ?rK; "V.= U J6 :K9@p /BK9V>=

/JBJ= 7V4E %IJ4J 39J /F /qS ?rK; "V.= ;'M=L B V/ /Lq/ y /BK9V>=
%IJ4J K/6 ;JVA= K5 A;E 7<qeb ?r; 7K=%J>V = AVebJ@;/ U J6 <MKyAG"/
J=. 9p/L/ <3J A;VE y /BK9V> ';J K=V/ 9p3q B V> K/K6 y /BK9V>=
O =)[=k $X<=' ,<\O,<7G) ,X&Y$<0 'jAoo

J V6= 5L6 U J6
K6uK KAJeb 9J U=JVE4J4 9Jvb9JEV6= '6p 4JEL U J6 9pKy _&J T/:JV9 BJ
9Jvb9JEV6 9p3q B V> K/K6 4M 9FA= 7<qeb J=J4V 39J 4? BJ'J= *J J 7<qeb
185
39J :E 4V 46LE B V96O
93
186
*J J J/mAJF K=EJV&6 9K>EJ ".p B V96O

?rK; "V.= 39J ;JK> "V.= U J6 U*r, K6EV6= U J6 ;q /qJ
9J ;q%J=L y U*r, K6EV6= /BK9V>= 3q J/mAJF K=V>
/&=R7 K=V> 39J AF VV?p K6V'= JV' 9pE K=V> K/K6
9FA= 7<qeb J=J4V 46LE B V96 9G K5 e\ K/K6 3q
4V 46LE B V96O
5J=J= 5L6 JV=JK7/ 3q4 U< 7K=;J. 3q K:<My 9pKy
J/mAJF 9J /&=R7 9J K6' JV' 9pE K=EJV&6 9K>EJ J4J>/
7;J. 7J V9 UA 7K=;J. B V/ 7JK=V9 9G 3q4V= *J J J4JE
B EJ= 7= J4J>/ BJ AGK? /BK9V> 7P=. K=EJ K4V9O
!
"
#
O F0= =~Z E$ F Z! =)7G)0 .Y <Gj0 'jAoo U J6 9pKy

U=K'Kr T/ 39J U=K'Kr 9JK/> B EJV& ;6 U J6 U*r, K6EV6= U=K'Vr?6
7JK AGzJeb U J6 ;q J 9p/L/ 6p U J6 ;q JV G?"B. K=V> 39J
6p U J6 9pKyV y=R7 ;q JV G?"BV.= '6p FAJKB/ 9J 7V=JK%/ K=V>
39J y=R7 U J6 U*r, K6EV6= /BK9V>= '6p A4Ap %IJ4J 9p/L/ 6p U J6
%IJ4J J4JE K=V> K/K6 &E ;JA 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
3q4V 39J :E 4V 46LE B V96O
O F Z! =)7G)0 Ht$ 4'4X *G'0 'jAoo U J6 9pKy

A;VE
JK5 U*r, K6EV6= A4Ap B V> 9J 3JK V> K/K6 &E ;JA 7<qeb J=J4V
39J 4M BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
O )X<7-<G, $&X *r <G20 'jAoo U J6 9pKy

J V6= K95J6 >G#6
K=EJ /JBJ= A= J=L 4JKE/i 7J>6 JV> /JBJ= U"J%=L:P/ B EJV& =R7 K6;qJ. 9J
9p9AJ AGzJeb U J6 U"J76LE /3p 39J
J V6= 5L6 U J6 7=L{J= 8>
7 J? K=EJ K4V> K/K6 &E ;JA 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
3q4V 39J :E 4V 46LE B V96O
O (<0<
)< .<)<0 'jAooU J6 9pKy AJK>VA= AVebJ@;/ 9p/L/
6p U J6 J=V. 5J=J
= K95J6 ;JK6V/ 9p3q B V> K/K6 &E ;JA 7<qeb
J=J4V 39J 4M BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
O K.&X< 4`.$< *r$X7)*m ,X,5<G00 'jAoo U J6 9pKy
J V6=
U J6 K95JV6= 5L6 6p U J6 9pKyV 74 U J6 A{;/J 7 K6V'= 9=J9V=
74 A{;/J7 KBAJV9 AJV6 9p9BJ= K=V> 9J 9p9BJV== U%J K=V> 39J
6p U J6 9pKyV AJV6 BJ 9p9BJ= K=V/ 39J 9p9BJV== U%J K=V/
6M;K/ K4V> K/K6 K/6 ;JA 7<qeb J=J4V 39J
39J :E 4V 46LE B V96O
O 2Z=. G#0 4<(<0# *0<G(0 'jAoo

J V6= 6p K95J6J9>L
AJV7V{ U J6 7K/JV6 K6VEJK'/ U J6 ?rK; /JBJ= 7= 4JKE/i 9J /q9p
JV=J7 J=L U J6 J 6 9J U J6 K9K5 7K95J6 9J vZL; 9J U J6 K9K5 Alo/
JV4V?= U J6 K95J6 >G#6 K=V> K/K6 7IJ%?/ *J J 7<qeb 3q4V 46LE
B V96O
O ,<(< *r'<G)0 'jAoo
U J6 9pKy
J 6 9J K9K5 7K95J6 9J
vZLV;= 5L6 4JKE/i 7J>6=/ U J6 ;q /qJV BJ= 5L6 /JBJ= 4JKE/i 9J /q9p
7J>V6 _&J T/:JV9 9J5J 74J6 K=V> 39J y=R7 U J6 9pKyV U J6 7K/J6
O =.&X< =,,0# $X<='0 'jAoo U J6 9pKy

9v\"/ :M> 9K>EJ 'JV66 9J 'J6J= J=. JV& =R7 U J6 9.q6J
187
7/J=.J= VV?p
J 6 9J U J6 K9K5 K95J6 9J 7K95J6 9J
vZLV;= 5L6 ={.LE U J6 U=K'J= U6JK*? 6K3 39J 6p U J6
4K>> 4vbJV9V' K>K79 K=V>
y=R7 U J6 U=K'J= U6JK*? 6K3 9J 6p U J6 4K>> 4vbJV9V'
K>K79 =J= 7VEJ'6 JV& =R7 U J6 K9@E BJV/ _&J T/:JV9
K>K79 =J B V/ 9J4 =JK!V> 39J 9J4 =J!J= 6M;K/ K4V>
y=R7 U J6 U=K'J= U6JK*? 6K3 9J 6p U J6 4K>>
4vbJV9V'= K8A K7 9p/L/ JK5 K7 ={. K=V>
9v\"/ :M> 9K>EJ 'JV66 9J 'J6J= J=. JV& =R7 U J6
4=!Jvb 6 ?J 6K3 K99=. /3p K=V7J*q U6JK*? 39J 6p U J6
4K>> 4vbJV9'
J 6 39J U J6 K9K5 K95J6 7K95J6 9J U J6
vZLV;= 5L6 U J6 ;q /qJ 9J /qS7V{= K6 * _&J T/:JV9
7J+J V> 9J 7J+J 9J= 6M;K/ K4V> 39J
J 6 39J U J6 K9K5 K95J6 7K95J6 9J vZLV;= 5L6 ={.LE
9J U7K=/9p U J6 6 ?J /JK> J 6K3 U=K'J= /3p K=V7J*q
39J 6p U J6 4K>> 4vbJV9' _&J T/:JV9 ={. K=V/ 39J
U7=. K=V/ 9p3q B V> 39J "JK8>K/ K=V> K/K6 &E ;JA
7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V 39J :E
4V 46LE B V96O
94
188
AlV q
7K=4?q6
9VB>J
3q4V
BJ= 5L6 7VEJ'6LE 9J 6MV;JK4/ U J6 7V9? /4eb 7=L{J 9J

K=9J= '6p <MKyAG"/ AMV<J" K4V/ _&J T/:JV9 v2L J= K=V> 9J
K=V> K/K6 &E 9FA= 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
39J :E 4V 46LE B V96O
4M 9FA= 7<qeb J=J4V 39J 4? BJ'J= *J J 7<qeb 3q4V

39J :E 4V 46LE B V96 39J
" <K4 y >G#V6= J=V. U J6 7K/JV6 U J6 ?rK; 9J 6p U J6
9pKy 6p:JV9 '!;7J B6 9J /JBJ= 6p U J6 K974 ASK BE
/JBJ B V> &E ;JA 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
3q4V 39J :E4V 46LE B V96O
U J6 J4J>/
5J=J= 5L6 3q4V= JV4? 74J6 JV> 4V=
J4JE T/ V3q= AlP.q 9J U J6 G? {K/7P=. KBAJV9 '!; 7J
9pKyV
39J /JBJ= ;S/Mp B V> /JBJ= J 6"/ 7K/K6K5V
74JV6= '6p JV4? K4V/ 7JK=V9O
".7'J/eL 9JG>JV4? A= J= 7 JK?/ U"V'V* :M>zV; &E ;JVA= v]V> &E 9FA= ;MK4r/
BVEV&O y :M> AGV?JK5/ 6J B EJE J;JV4= U"V'V* 9K.q/ &E 9FA= &J7V/ BV>JO
U J6 9pKy 7 5J=J
K>K!/ 4JKE/i 7J>6=/ U J6
;q /qJ= />9 6M<JEL /JBJ= AloMV!
J 6 9J U J6 K9K5
7K95J6 9J vZL; U;J/JV9 =K{/ U J6 U=K'J= 6K3 9J 4K>>
4vbJV9' BJK'= K=V/ _&J T/:JV9 v2L J= K=V> 9J 9p3q B V>
39J y=R7 4JKE/i 7J>6=/ U J6 ;q /qJ= AloMV! U J6 9pKyV
BJK'= B V/ 9J /JBJ= '9J69f4L "B. K=V/ _&J T/:JV9 9J5J
K4V> 9J 9J5J U4 EJ= U%J K=V> K/K6 K/6 ;JA 7<qeb J=J4V
39J
BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE
B V96O
J 6 9J U J6 K9K5 7K95J6 9J vZLV; y=R7 >G#V6= '6p

_%/= U J6 ?JKvb= 9p9v]J 3JK V> BJ= U{V
5J=J= U J6
K &M 7V<J'p B V9 6JO
O <'<1G$0 =$*7 <G'2 *r'<G)0 `.$<Aoo
J 6 9J U J6
K9K5 7K95J6 9J vZLV;= 5L6 U J6 7=JV5= '6p U J6 7K/JV6= ;JK>V = 4
B V> J4J>/ K>K!/ JV4? J=J 4V= K/K=y KBAJV9 U< J=V. 7=J5
AG#K*/ B EJV& UA J=. 4P=L:P/ K=9J= '6p JV4V? K>K!/ K6K4q A;VE=
;V5p <JBJ U J6 4=!JVvb= K:KV/ 9K5q/ =J <J V9 BJV/ K>K!/ 9p9v]J "B.
K=9J= '6p /JBJV K6V4q? K4V/ 7JK=V9O
U< U{V 7 5J=J
= 5L6 U J6 JV4? 74J6 =J BE
UAV{V 7K/JV6= ;JK> JV4V?= K6K4q A;VE 9J 9K5q/ A;VE
y 75J=JE K>K!/ U J6 7=J5 <JBJ= '6p /JBJ= 4
B EJV& 9pJB/:JV9 K=EJ <J 9J= '6p 46LE B V96 6JO
<K4 y A;VE= ;V5p 7 5J=J
= 5L6 74 JV4?
7M=J7MK=:JV9 7J>6 =J 6J BE /JBJ B V> ;JK>
y A;E U?@
B 9J= 7= J= 7=J5 K=EJV&6 9K>EJ ".p B V96 9G BJ=
'6p K/K6 &E ;JA 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
3q4V 39J :E 4V 46LE B V96O
O )X<)X *0<G(0 'jAoo U J6 9pKy

J 6 9J U J6 K9K5 7K95J6
9J vZLV;= U J6 K95J6 >G#6 K=V> 9J ;JK6V/ 9p3q B V> 9G BJ= '6p BJV/
6p U J6 4V= K95J6 6J 3JK V> K/K6 K/6 ;JA 7<qeb J=J4V 39J
BJ'J=
*J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
O *B,Y 'j<f<0 *0 ,=(Y$ 'jAoo
J 6 9J U J6 K9K5 7K95J6 9J
vZLV;= 5L6 U J6 7=JV5= '6p 4JJ7J U J6 9pKy 7M6=JE y=R7 U J6
7=JV5= '6p U4J@L AJ9pvb B V> K/K6 /JBJ= K/LE 9J= 7=JV5= U{V BJ=
'6p K65qJK=/ 4V= K}. 4V 46LE B V96 H
/V9 ?/q 3JV U<
5J=J= VV?p K/LE 9JV== 7=J5 73; 4JJ= 4M
9FA= 7= AG#K*/ B V> 73; 4JJ= K9@E K9V9%6JE J6J B V9 6JO
O =,*d) *=0#=$4U)R < ) 19 G)0 'jAoo
5pJVE=
6p <JBJ K &M 3J N 6J U 6 U J6 9pKy
J 6 9J U J6 K9K5 7K95J6 9J
vZLV;= U J6 K95J6 >G#6 K=V> K/K6
<K4 y >G#V6= J=V. 7J.BJ6L BE /JBJ B V> %J= 9FA= 7<qeb
J=J4V 39J
>{ *J J 7<qeb 3q4V 39J :E 4V
46LE B V96
! <K4 y >G#V6= J=V. AJG#JK/ ?J=LK= '!; BE /JBJ B V>
189
O ,74 *r.<G#0 '<=7$SAoo

U J6 9pKy U J6 K6K4q 9EVA= ; 9J
U9?L 9EAL B EJ= J=V. /JBJ= U J6 J' <K4
J V6= 5L6 4V<J"p
7=J5 BE 9G <K4 J4J>V/= ;V/ y 9pKy 4S?p/H y=R7 9EVA= 7V= 9J
95
190
6LV% B6 /JBJ B V> K/K6 y=R7 9EVA= 7V= 9J 6LV%= 9EAL 6VB6 BJ 7;JV.=
:J= K:<My 9pKy= 7= 9/qJ V9O
U J6 U=K'J,q K%K FA <K4
;V;q 7/pE67 74J6 V=6 U<
K/K6 U J6 ?rK; V 7=L{J K=EJV&6 9G K/K6 K9?nJA V=6 U<
BJV/ K>K!/ 9EA /JBJ= 9EA /JBJ B V>
J V6=
VV?p y 7/pE67 y ?rK;V = 9EA AlV q %PCJeb 7;J.
9K>EJ ".p B V9O
O *0<G(0 =0G*< YAoo U J6 9pKy /qS

J 6 9J U J6 K9K5
7K95J6 9J vZLV;= >G#6 9J BJ ;JK6EJ %K>V/ v2L TK/ AlV q ?r; 7K=%J>
75J6 7K=4?q
39J :K9@p /BK9> K6Ee
39J /JBJV4= U J6 5vb6
;q /qJ= K6 * 9"K/= '6p 9J <3J<3 J<qz; "BV.= '6p K=V7J*q =J <J V9O
O .<.1< *r$X<5<0Aoo U< 9pKy= K:V<JV"
J 6 9J U J6 K9K5
7K95J6 9J vZLV;= 5L6 U J6 ;J;>J =^ B EJV& UA 9pKy= 4=!Jvb 9p/L/ y
;J;>J 7/pJBJ= =J <J V9 6J H
/V9 ?/q 3JV U< ?r; 7K=%J> 9J 75J6 7K=4?q 9J :K9@p /BK9> K6Ee
= 6M;K/ 9pK/V=V /JBJV4= 5vb6 U J6 ;q /qJ /qS 4JVE= T/ U J6 ;J;>J
7/pJBJ= =J <J V9 6JO
O F <U<)> $X<='0 *0<(Aoo U< U{V

J 6 9J U J6 K9K5
7K95J6 9J vZLV;= 5L6 U J6 7=J5L U J6 U JlJ6L 9J 6p U J6 AGK9K59
AGv]J 9J U J6 8J;q BE UA U{V BJ= J' ;q 7K=%J>6J= 9pJ7JV= AKzE:JV9
'KC/ BJ= 7V/p 7K=%J>
G?L4J= 9p9v]J7 AK%9 9J 6p U J6 ;q /qJ
9J 7K/K6K5 y 7=J5 K=EJV&6 9K>EJ ".p B V96 <K4 6J K/K6 7;J. K=V/
7JV=6 U< 7=J5K* /JBJ= J/AJV= 9J AloK/zV; BE 6J 9J BJ U=JV5= '6p
K/K6 AJ5p;/ U%J K=EJK&V>6O
O *0<( =, <0<&Y r5#Aoo
?r; J4J>/ 9p/L/ 6p U J6 J4J>/
J 6 9J U J6 K9K5 7K95J6 9J vZLV;= 5L6 U J6 7=JV5= K9%J= K=V9 6JO
K6;gK>K!/ 9pKy"V.= K:V<J" 9p/L/ U J6 ?r; J4J>/
J 6 9J U J6 K9K5 7K95J6 9J vZLV;= 5L6 U J6 7=J5 K9%J=J3q
"B. K=V9 6J <3J H
AG{N 9pKy 9J AG{M U*r, K6E6
! VEJ4? 5pJE 9J 5J=J
= 5L6 U J6 7=JV5= U{V ?r;
7K=%J>
" A4? 5pJVE= 5L6 U J6 7=JV5= U{V *rJK U9JV,q=
U%EJ=;pJ6 39J :K9@p /BK9> K6Ee
# J4? 5pJVE= 5L6 U J6 7=JV5= U{V U<J"p /qS7{
$ 6p U J6 7=JV5= U{V 75J6 7K=4?q
39J /JBJV4= 5L6
/4 VV?p {;/J7J U J6 ;q /qJO
O =-/?=^ $<.<='Aoo
J 6 9J U J6 K9K5 7K95J6 9J vZLV; K:6g=R7
K &M 6J 3JK V> BJV4= 5L6 U J6 7=J5 U J6 ?r; J4J>/ K9%J=J3q "B.
K=V9 6J <K4 6J /FAlV q K:V<J" 7=J5 AG#K*/ B 9J= &E ;JVA= ;V5p U7?
=J BEO
191
96
192
=,92 (X<7
*r2<4) *=0'2Y)
7JK=V9O
U<V{V 7 75J6 7K=4?q
AB J=L 75J6 7K=4?q
39J
7K=4?q K6<My =J BE UAV{V A= J= y 7J7V6
J V6= 5L6 /JBJV4= 7V/pV = ;qV{ 9J >J J 9J
!K/EJ=J5L6 7K/J6 K65qJ=. K=EJ K4V9O
75J6 7K=4?qV =
J V6= 5L6 /JBJV 74 {;/J &JCJ
A;" U4V? '6 7K=4?qV = {;/J 3JK V9O
A > 7 75J6 7K=4?q AB J=L 75J6 7K=4?q 9G 7K=4?qV =
7= 75J6 7K=4?qV = /iJ95J6 K6EeV.= {;/J 3JK V9O
75J6 7K=4?q K>K!/ AJ5J=. 9J K9V?@ JV4? J=J /JBJ= U J6
{;/J 9J 4JKE/i U J6 7 75J6 7K=4?q AB J=L 75J6 7K=4?q
9J 7K=4?qV = 7= 7q. K=V/ 7JK=V96O
;JV qf*J > U;=L6 K,7J*qV;Vf*= A > K7K7J> K8AJ= /JBJV4=
!K/EJ=J5L6 >J JE @ 5pJVE= 5L6 7.L/ 7K95JV6= VV?p
74JK5 J=J5L6 7K/J6 7K=4?q B V96O
$X<='
O 2Z. *=0 <1

$X<='Aoo
J V6= VV?p A= J= A= J=L
U"V'V* 7J76 J=J
'6 ?r; 7K=%J> K6<My K=V9 9G 7VEJ'6LE AG!p
K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r; 7K=%J>
9G AB J=L ?r;
7K=%J> K6<My K=V/ 7JK=V9O
U< U{V K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r;
7K=%J> 9J AB J=L ?r; 7K=%J> K6<My =J BE UA U{V A= J=
y 7J7V6
J V6= 5L6 /JBJV4= 7V/pV = ;qV{ 9J
>J J K65qJ=. K=EJ K4V9O
A > K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r; 7K=%J>
9G AB J=L ?r; 7K=%J>V = 7= ?r; 7K=%J>V = /iJ95J6 9G
K6EeV.= {;/J 3JK V9O
?r; 7K=%J>V = K6;g=R7 {;/J 4JKE/i 3JK V9 <3JH
VEJ4? 5pJVE= 5L6 U*r,
K6E6 U=K'Kr =. 9G
/4 VV?p U=K'J= ={.
! U J6 7=JV5= '6p 9J AF ?r; J%=V.= '6p 39J VEJ4?
5pJVE= U J6 K95J6 :GV"= '6p ?r; J4J>V/ K:V<J" U7? =.
" U J6 7K/J6 7K/J67M AlV q U J6 U*r, K6E6 U<Y3 4=
@J K@ 7K/K6K5 KBAJV9 7/pKE/ B 9J= K5 J=L /JBJ K65qJ=.
# U*r, K6EV6= J<qK69qJBL K;K*= K69qJ%6 9G U J6 U"J76 K69qJ%6
/iJ95J6
$ U J6 K? K9V=JV5 AJK>A KBAJV9 /q9p 7J>6
% G?"B. J=L K;K*= J' ;q /iJ95J6 9G
&
J 6 9J K9K5 J=J K7q/ 6p U J6 4JKE/i 7J>6O
?r; 7K=%J> K>K!/ AJ5J=. 9J K9V?@ JV4? J=J /JBJ= U J6
{;/J 9J 4JKE/i U J6 K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r; 7K=%J> 9J AB J=L ?r; 7K=%J>V = 7= 7q. K=V/
7JK=V96O
O *r(<) *=0'2Y
$X<='Aoo
J V6= VV?p A= J= A= J=L
U"V'V* 7J76 J=J
'6 75J6 7K=4?q K6<My K=V9 9G 7VEJ'6LE AG!p
7 75J6 7K=4?q AB J=L 75J6 7K=4?q
39J 7K=4?q K6<My K=V/
193
O *r(<) *=0'2Y
$X<='0 `.$<
'<=7$SAoo
J V6=
VV?p 75J6 7K=4?q 9J U J6 7 75J6 7K=4?q AB J=L 75J6 7K=4?q 9J
7K=4?qV = /JBJV4= !K/EJ=J5L6 >J JE K6;g=R7 {;/J 9J 4JKE/i 3JK V9
<3JH
7VEJ'6LE AB J=L AB JV= /JBJ= K9V9%6JE U J6 7K/J6 KBAJV9
".p 9J 9p9/ U J6 v]J6 JGK"6J U6Y<J6 9J <J69JBV6 U6J
!
J 6 9J U J6 K9K5 7K95J6 9J vZL; U;J/JV9 =K{/ U J6
U=K'J= U= ,q 6K37 U6JK*? 7/pE67 9J 6p U J6 4K>>
4vbJV9' />9 =J 9G BJ J* 7K=4?q6 9J 7=L{J =J 9J
BJ= 6 > =J
" U J6 7K/J6 9J BJV/ K6<My U J6 ?rK; AlV q
J 6 9J
U J6 K9K5 7K95J6 9J vZLV;= U J6 K95J6 <3J<3:JV9 ;J6J B V/V&
K 6J BJ K65qJ=V.= '6p 7VEJ'6LE 6MAJ6 9J 7=L{.
# U J6 7K/JV6 7J EJ K"EJV& 9J U J6 7K/JV6 9p9KB/ 7P9q9/qL
4M ;JVA= ;V5p %J N=LV/ K6<My K&V>6 9J JV&6 9K>EJ K9?nJA
=R7 U J6 U>JV =
J 6 9J U J6 K9K5 7K95J6 9J vZL;
AlK q/ U J6 K9@VE '9J69f4L "B.
97
194
$ '9J69f4L 9J 7=L{J "B. =J B EJV& =R7 7rV/p 9pKy= K6 *

B V/ A/p/J 7K/7J4V6= '6p '9J69f4L 9J 7=L{J AGzJeb U= ,q
9J J"'7V v2J{= "B.
% 7VEJ'6 B V> U J6 ;JK> /qS =K{/ U J6 U=K'J= U= ,q
7/pE67 U6JK*? 9J 6p U J6 4K>> 4vbJV9' Al2V /JBJ= 9J
/F /qS K6<My U J6 9pKy= K6 * B V/ W K8EF 9J 9pJ!pJ />9
=J 9G
&
J 6 9J U J6 K9K5 J=J JV=JK7/ 6p U J6 {;/J 7VEJ" 9J
4JKE/i AlJ46O
J 6 9J U J6 K9K5 7K95J6 9J vZLV;= 5L6 {;/J 7VEJ" 9J
4JKE/i 7J>V6= '6p 7VEJ'6LE U J6 7V9? 7K=4?q6 7=L{.
6MAJ6 9J 6p U J6 J' =J= '6p A > 7e]J 9J 9p9v]J
7K=4?qV = />9 6M<JEL U J6 7K/JV6= ;JK> V K=V/ B V9O
7V/p ;JK> V
J 6 9J U J6 K9K5 7K95J6 9J vZLV;=
VV?p A > U= ,q U=K'J= 9G 6p U J6 4K>> 4vbJV9'
7=L{J= '6p 7K=4?qV = K6 * /JBJ= />9 6M<JEL BJK'= K=V/
B V9 9G y 7K=4?qV = %JKB4J 6M<JEL /FAlV q 6p U J6
/3p A=9=JB K=V/ B V9O
J 6 9J U J6 K9K5 7K95J6 9J vZLV;= 7VEJ" AGzJeb U J6
9pJ7JV= BJ= 5L6 4JKE/i 7J>V6= 7VEJ'V6 U J6 7K=4?q U J6
;JK>V = K6 * B V/ U J6 U= ,q U=K'J= 9J 6p U J6 4K>>
4vbJV9' />9 K=V/ 9G BJ J* K=V/ 7JK=V96O
75J6 7K=4?q
39J /JBJ= K6 * B V/ /4 VV?p {;/J7J
/JBJ= 5vb6 U J6 ;q /qJ
J 6 9J U J6 K9K5 7K95J6 9J
vZLV;= 5L6 /JBJ= !K/EJ=J5L6 U J6 K9@VE U J6 7=JV5=
'6p U J6 9pKy= K9=RV ?r; J4J>V/ K:V<J" U7? K=V/
7JK=V96O
K=V96O
y K6Ee *rJK U9JV,q= A:JE G?"B. K=V/ 7JK=V96 K e\
U:J* K4V/ 7JK=V96 6JO
y K6Ee *rJK U9JV,q= U%EJ=;pJV6= AKB/ 7=J;?qzV; U9JV,q=
A:J JBhJ6 K=V96 9G A:J= J<qK99=.L K>K79
={.
K=V96O
y K6Ee *rJK U9JV,q= KAJeb 9Jvb9JEV6= '6p 4JEL 3JK V96O
y K6Ee 7VEJ'6 ;V6 K=V> U J6 %J 9J"J6 ;JK>V = K6 *
B V/ y :K9@p /BK9> AlV q KBAJ9 />9 K=V/ 7JK=V96O
y K6Ee
39J /JBJ= K6 * B V/ {;/J7J U J6 9pKy U<
U J6 <MKy AG"/ A;VE U6JK*? 74J6 K=EJ U J6 %J 9J"JV6 39J
/FAGzJeb U J6 9JCL#V= 7V9? K=V/ 7JK=V96 9G BJ= 4JKEV/i
K6VEJK'/ U J6 9pKy= K6 * B V/ %J 9J"JV6= ?rK; "V.= K6VEJ"
9J ;'M=L 7K=V?J5 AlV q U J6 KBAJ97 U=K'J= 39J 6p
U J6 4K>> 4vbJV9' /JBJ= 7=L{J= '6p />9 K=V/ 7JK=V96O
y K6Ee 9J /JBJ= K6 * B V/ {;/J7J U J6 9pKy U J6
;JK> 9J /JBJ= U J6 ;q /qJ ;q%J=L 9J 7K/K6K5V
39J %J
9J"J6 9J /FAlK q/ U J6 9JCL#V== 4JKEV/i K6VEJK'/ U J6 9pKy
39J y %J 9J"JV6 ?rK; 9J ?rK; K&> 9K>EJ /JBJ= ;V6 BE
=R7 U J6 9pKyV 7 5J=J
K>K!/ U J6 K9@VE 7=L{J
K=V/ 7JK=V96O
y K6Ee K9K5 J=J K65qJK=/ 6p U J6 {;/J 7VEJ" K=V/
7JK=V96O
O =54<, =)0>`<Aoo
A= J= /qS K6V4qK?/ 7e]JE 8=V; U J6
U9J,q BJ= KBAJ9 ={. K=V9O
U J6 U9JV,q= JE 9pVE= KBAJ9 7V/p 9FA= ;BJ KBAJ9 K6=L{
K6Ee
/H7= ;BJ KBAJ9 K6=L{ 9K>EJ K>K!/ /Sq
/JBJ= K65qJK=/ 7e]JE K6=LK{/ B V9O
K6=L{J= VV?p ;BJ KBAJ9 K6=L{
39J /JBJ= K6 * B V/
{;/J7J U J6 9pKy U9JV,q= A > U= ,q 9 KBAJ97 pJ?
:JJ= 4K>> 4vbJV9' 39J 6p U J6 AlK 7K=4?q6 K=V/
7JK=V96 9G U9JV,q= U J6 A4Ap 9J U J6 ;q /qJ 9J ;q%J=L=
'9J69f4L "B. K=V/ 7JK=V96O
O < ,< <) 2Z=. -=,3X $5=,1 =)7Pe Aoo

A= J= A= J=L
U"V'V* 7J76 J=J %J 9J"J6 ?rK; :K9@p /BK9V>= '6p '6 :K9@p /BK9>
K6Ee K6<My K=V9O
y K6Ee y /BK9V>= 75J6 K69qJBL ;q /qJ B V96O
*rJK U9JV,q= AJ5J=. /iJ95J6
K6EeV. y K6Ee /JBJ=
4JKE/i 7J>6 K=V96 9G K/K6 y U9JV,q= AK%V9= 4JKE/i 7J>6
195
98
196
U9J,q y=R7 K6=L{J JV> BJ= A > KBAJV9= 9 9G AGK?

4K>> 4vbJV9' ;BJ KBAJ9 K6=L{ 9J K6=L{J=/ ;q /qJ= K6 *
BJK'= K=V9 9G /JBJ= />9 6M<JEL /3p A=9=JB 9J 9pJ!pJ
74J6 K=V9O
;BJ KBAJ9 K6=L{ /JBJ= K6=L{J K=V7J*q U9JV,q= K6 * U7?
K=V96 9G BJ= K* K7 A= JV== K6 * U7=. K=V96O
K6=L{J K=V7JV*q K>K!/ U J6 ^K* 9J K6E; K9>Vl2 AGV?J56
K=9J= '6p U9J,q 9p9v]J "B. K=V9O
A= J= UV/ 7JK=V9O
5J=JE U9J,q 9K>V/ , ?rK; 9p9v]J76J U9J,q 9J %J 9J"J6
?rK; :K9@p /BK9> *rJK U9J,qU 9M(J V9O
$
%
&
'
9v 7J* ;e.J>VE= AK%9 74JK5 J= 9V>

U6Y 7K=9B6 ;e.J>VE= AK%9 74JK5 J= 9V>
U<J"JV<J" ;e.J>VE= AK%9 74JK5 J= 9V>
K? 7K/J6A;PVB= 7K/K6K5/i J=L AJ/'6 A4Ap <JBJ=J A= J=
/qS ;JK> "V.= 9pJ7 7rK/K6K5/i J=L 7K/J6A;PVB= AKB/
JV>J%6JzV; K6<My B V96
( ?rK; "V.= 7K/K6K5/i J=L AJ/'6 A4Ap <JBJ=J A= J= /qS
?rK; "V.= 9pJ7 7K/K6K5/i J=L U*r,
K6E6A;PVB= AKB/
JV>J%6JzV; K6<My B V96 H
/V9 ?/q 3JV U< ?rK;
;JK> :E 7V{= 7K/K6K5V4= ;V5p
eb/ '6 V= ;KB>J 7K/K6K5 eb:Mqy 3JK V96O
) 75J6 7K=4?q 74JK5 J=9V> K<K6 BJ= AK%9 B V96O
;V6J6L/ A4Ap". K/6 9FA= U;EJV4 /JBJV4= 7V4 K5K/
3JK V96O
J K> BJ= K6'v2 J<qK9K5 6MA=. K=V9O
J K>
K? 7K/J6A;PVB K6=J7J K6K/ =J= '6p 9G BJV/ v2Jv]p
Alo/ 9J 7K=vZJ= 7K=_&6g 7K=V9?
9v]J 9'JE =J!J= '6p 'J/LE
6LK/;J>J 7.E6 K=V9
! BJ= 6LK/;J>J 9Jvb9JEV6= '6p K4 K6V4q?6J 7v\/ K=V9O
7V/p 7K/J6 J K> /qS 7v\/ T/ K4 K6V4q?6J 6MA=V.
/F /qS 7.L/ 6LK/;J>J 9Jvb9JEV6= '6p <3J<3 74V{7 "B.
K=V9O
O =0G*< Y $X<='Aoo
5J=J
K>K!/ U J6 U9J,q BJ=
7V/p
3q 9FA= U?@ B 9J= 7= </?L# Alj9 ;BJ KBAJ9 K6=L{
/qS
K6=LK{/ BJ= JE 9pVE= KBAJ9 9G /FAB y 9FAV= BJ= ;q JV= K*
9JK@q K99=.L 9G BJ= 7=9/qL 9FAV== 7vbJK9/ ;qAP%L A= JV== K6 *
A=9=JB K=V9O
A= J= U9JV,q= K6 * B V/ K6;gK>K!/ /3p 9J 4K>> 4vbJV9' />9
K=V/ 7JK=V9 9G U9J,q BJ A=9=JB K=V/ 9J5p 3JK V9 <3JH
U J6 K=V7J*q K99=.L J6M;JK6 KBAJ9 7K=AG!pJ6 39J U9JV,q=
K6Ee.J5L6 U J6 K9@VE 6p U J6 /3p
! y=R7 U J6 K9@VE U J6 K=V7J*q
" U9JV,q= UB8J'V/ JV& =R7 U J6 4K>> 4vbJV9V'= K7O
A <$>7 =2y \%<\LX
=)0<*k< < =w1Aoo
A= J= A= J=L
U"V'V* 7J76 J=J 'J/LE K? v2Jv]p K6=J7J J K> 6JV; K* J K>
"+6 K=V/ 7JK=V9O
K6;g=R7 A4Ap A;e2VE y J K> "K+/ B V9 <3JH
?r;
;qAGv]J6 ;e.J>VE= 4JKEV/i K6VEJK'/ ;eL 74JK5 J=9V>
K<K6 BJ= U%EJ=;pJ6 B V96
! ?r;
;qAGv]J6 ;e.J>VE= AK%9 74JK5 J= 9V>
" K? ;e.J>VE= AK%9 74JK5 J= 9V>
# v2Jv]p ;e.J>VE= AK%9 74JK5 J= 9V>
197
99
198
=,92 (X<7
BJ= F7J46 7KzEJ %J>M =JV! UA 7K/JV6 7M6=JE F7J46

7KzEJ =^ K=9J= 6Mp6 K? K46 7PV9q /FAlV q BJ= ;JK>
7 5J=J
K>K!/ /3p 9J K9@E AK6gV9? K=EJ
K*
K>K!/ U6JK*? 75J6 7K=4?qV = K6 * U7=. K=V96O
U J6 U{V 6P/6 9p9v]J7 K6<My B V> /JBJ= JV' U<J"4JV6=
/JK=! B V/ AJ/ K4V6= ;V5p ;JK> y 7K=9/q6 Al2V 75J6
7K=4?qV = K6 * K* K>K!/ U6JK*? U7=. K=V96O
U J6 A;E U J6 7K/JV6 U J6 9p9v]J7 K6<My 6J 3JK V> 9J
K6<My 9p9v]J7 U J6 J' 6J K=V> 9p9v]J7 KBAJV9 ;q=/ U ;JK>
J V6= VV?p y 7K/JV6= 9p9v]J7 9K>EJ ".p B V96O
=,=,(
O ,X<5=$0 `.$<Aoo
A= J= A= J=L U"V'V* 7J76 J=J
BJV/ K>K!/ ?/q 9J K9K5 K6V@5 AJV7V{ U J6 ;JK> 9J ;JK> U?r.LV
39J U J6 7K/J6 9J 7K/J6 U?r.LV 9J BJ= U J6 G? K9V?@V 39J U J6
?rK; 9J ?rK; U?r.LV
J V6= K/LE 7; @ A; ; 69; 39J
J4? 5pJE 39J BJ= U J6 5J=J 39J K9G? 5pJVE= 5J=J
9J
= A > 9J UJ B V/ 9pJBK/
K4V/ 7JK=V9O
7 5J=J
= 5L6 U J6 9pJBK/ JV4? '6 9J 'J/LE v2JV3q
=J B V9 9G y JV4?
AGV" &E ;JVA= K5 U;EJV4=
'6p 9>9F 3JK V9 6JO
75J6 7K=4?q A= J=L U"V'V* 7rJ76 J=J U J6 7K/J6 9J
7K/J6 U?r.L AlV q
J V6= 5J=J
9J
= A > 9J UJ 9J 74?q6L 7>V{ AJ;KE :JV9 v]K"/ =JK!V/ 7JK=V96 9G
BJ 7J7V6 K>K!/ U;EJV4= '6p 9G ?/q AJV7V{ 9>9F
3JK V9O
O ) 2< )?G.<') ,9 1< G4w F0= =~Z 0G#0 =+4Aoo A= J=

U J6 J=!J6J 9J U J6 U?r.L= J=!J6J K6;qJ. 7K/J 9J
Al7AJ=V.= '6p K9K5 J=J K65qJK=/ 7K/V/ 75J6 7K=4?qV =
K6 * B V/ K>K!/ 7P9q 6M;K/ "BV.= '6p K6V4q? K4V/ 7JK=V9
! U J6 J=!J6J 9J U J6 U?r.L= J=!J6JV K9K5 J=J K65qJK=/
7K/V/ 9G K8A 74JV6 BJ U=K'Kr =. 9J BJ= '6p >J VA
"B. 69JEV6= '6p K6V4q? K4V/ 7JK=V9O
<K4 7 5J=J
U;J/JV9 6M;K/= '6p 6 ?JAB U J6 4=!Jvb
75J6 7K=4?qV = K6 * U7=. =J= 7= /F /qS BJ 7JK= 4M
;JVA= ;V5p U J6 JV4? 4=!Jvb J=LV 74J6 =J 6J BE /JBJ
B V> 7J3qL/ 6M;K/ 74J6 =J B EJV& 9K>EJ ".p B V9O
U< U{V 75J6 7K=4?q U J6 J=!J6J K6;qJ. 9J Al7AJ=V.= '6p
39J BJ U=K'Kr =. 9J BJ= '6p >J VA 74JV6= 6M;K/
74J6 K=V/ v2L J= V=6 UA U{V 4=!Jvb J=L y v2L TK/=
@J* K4V6= ;V5p BJ= K9=^V A= JV== K6 * J7L> K=V/
7JK=V96O
,X< X< :oo U J6 J=!J6JE U 9> ;J U J6 <e7JK/ 9J > J
7K=9/q6 9J 7K/v]J76 39J K9K5 J=J K65qJK=/ AL;J= ;V5p U J6
6P/6 <e7JK/ 9J > J AGV<J'6
5J=J= 5L6 J=!J6J
Al7AJ=. 9K>EJ ".p B V9 6JO
O < z0M =0,<0 *BG,Y *r(<) *=0'2Y G F)<= 2 *r'<)Aoo

U J6
;JK> /JBJ= 7K/JV6 J' 9J 9p9AJ 9JK.'p =^ K=9J= 6Mp6 76= K46 7PV9q
75J6 7K=4?qV = K6 * /FAlV q K* U6JK*? U7=. K=V96 9G y U6JK*V?
K6;gK>K!/ /3p 9J K9@E AK6gV9K?/ 3JK V9 <3J H
7K/JV6= 6J;
9v]J6
! ;JK>V = 6J; K+ J6J
" 7K/J6 AlV q K%K+7 U7=V.= K+ J6J
# 7K/JV6 7K=%JK>/9p J' 9J 9p9AJ 9JK.V'p= 7 TK/
$ 9p9/ ?Ky= 7 TK/ 7K=;J.
% 7K/JV6= 9p9v]J7V = 6J;
& 7K/JV6= AljJ9p ?rK;V = AG!pJ
' K9K5 J=J K65qJK=/ 6p U J6 /3pO
U< 7K/J6 AJ5J=./H 9FAV= ?/ JK? ;qK49VA= ; U;EJV4
199
O *=0'2YG 0 =$*7 <G'G20 =,0MGs <*>1Aoo

100
200
U< U{V
J V6= 5L6 U J6 7K=4?qV = U J6 K>K!/ JV4? U J6 ;JK>V = 7= 'J=L

=J BE UA U{V y ;JK> JV4? 7JK= K? K4V6= ;V5p BJ= K9=^V J7L>
/qS7V{= K6 * J7L> K=V/ 7JK=V96 9G y J7L> /qS7{ /4 VV?p
7.L/ K9K5 AJV7V{ y JV4? 9BJ> =JK!V/ 39J 7K=9/q6 9J 9JK/> K=V/
7JK=V9O
/4 VV?p 7.L/ K9K5 9G J7L> /qS7{ /qS JV=JK7/ ?/q
9J K6V4qK?/ ;qAlJ46 AJV7V{ y J7L> /qS7{ 7<My
K9V9%6J K=V> J7L> K6uK 6J B EJ 7<qeb U< JV4V?= K9=RV
J7L> =J B EJV& BJ v]K"/ =JK!V/ 7JK=V9O
A= J=
5J=J= VV?p K9K5 7.E6 K=V/ 7JK=V9O
5J=JE
J7L> /qS7{ 9K>V/ A= J=V 9J /F /qS
/4 VV?p K6<My 6p U J6 /qS7{V 9M(J V9O
U< U{V U J6 K6uK 9J %NKy= 5L6 39J U J6 ;5pv]/J J=L 9J

?r; J4J>/ 9J *rJ 9Mp6JV>= U J6 KAJeb 9J U=JVE4JV4= 5L6
U J6 ?rK; U J6 ;JK>V = K6 * B V/ ;6 U J6 AMK95J 7J V/
K5 J=L <JBJ *J JE KBAJ9 =J <JE UA U{V K9K5 AJV7V{ y
AMK95J *J JE KBAJ9 K=EJ 7 5J=J
= K95J6 6M<JEL J4JE
=J <J V9O
5J=J= 5L6 3q J4JVE= '6p U J6 4=!Jvb "B. =J B V9 6J
<K4 6J BJ 3q 7V4E B 9J= /JK=! B V/
9FAV== ;V5p U7?
=J BE H
/V9 ?/q 3JV U< y A;VE= 7V= U J6 4=!Jvb "B. =J
<J V9 <K4 ?r; J4J>/
;V;q Ae\ BE U< 4=!Jvb J=L= y
A;VE= ;V5p 4=!Jvb U7? K=V/ 6J 7J=J= 7<qJ J=. K&> H
JV=J ?/q 3JV U< ?rK;V = 7J 6J AMV>= K9@EK* AV9qJ_%
"JK5 J= 7J V9 O
O F.I4?.> <0 <)<Aoo A= J= A= J=L U"V'V* 7J76 J=J U J6

9FAV= AJ5J=./H
?/ JK? ;q K49VA= K5 U J6 F7J46 7KzEJ %J>M
3JV 6J 9G U 9> ;J U J6 K9V?@ U;YAM; &JCJ 6p U J6 A;E 39J 7J TK/
?Ky= K6EK;/ KzEJ= 7= K6:q= =J &JCJ %J>M =J!J <JE 6J =R7 U J6
J=!J6JV
J V6= VV?p U;YAM;L J=!J6J 9K>EJ U#[email protected] K=V/ 7JK=V9O
O 4?G/< 4?=,(< *r'<G)0 )X F <) &Y <'<7 0< /< G, )<Aoo

J V6= 5L6 ;JK> /qS A=9=JB 9J 9p9v]J K=V/ B V9 =R7 U J6 AMV<J"
AMK95J 9J A=J; 9J <e7JK/ A=9=JVB= '6p 9J 9p9v]J =J= '6p K/K6 U J6
?rK;V = K6 * B V/ U Kf*V6 A=9=JB T/ !JV4p= ;P>p 9p/L/ U J6 K8A 9J 3q
J4JE K=V/ 7JK=V96 6JO
O
< G)0 (>) <'<7G/< X &Y <'<7Aoo
J 6 AJV7V{
?r; J4J>/ 9J *rJ 9Mp6J> /Tq
J V6= U J6 5J=J= 5L6 74JV6= '6p
K6V4qK?/ U J6 3q 39J
J V6= U J6 K95JV6= 5L6 U J6 9pKy /qS
7rV4E U J6 3q 39J U J6 K6uK 9J %NKy= 5L6 9J U J6 ;5pv]/J J=L 9J ?r;
J4J>V/= 9J *rJ 9Mp6JV>= U=JVE4J4 9J KAJVeb= 5L6 U J6 9pKy 9J ;JK> /qS
7V4E U J6 3q BJ 7J EJ= K5 J=L U J6 9pKy= 4=!JVvb= K:KV/ 9G /JBJ=
_&J6M<JEL ?r; J4J>/ /qS 9J BJ= K6V4qV? K6;g=R7 U K9K5 J=J K65qJK=/
7e]JE y 9pKy= v]J9= AlK UzJ K=EJ 9G K9zE K=EJ
39J
# U J6 U4 EJ6L J4J>V/= 3q AGzJeb K,zL KBAJV9O
201
O 2Z=.
G#0 '<=7$SAoo U J6 7K/JV6 U J6 ?rK;

BJV/ ?rK; "V.= v2Jv]p K6=J7J
>pJ. K6K/ =J= '6p
"SBL/ U J6 9p9v]J= 9J v]JK7/ U J6 <e7JK/= _&J T/:JV9
79p9BJ= 9J BJ= 9p9BJV= BvbV{7 K=V96 6J
! _&J T/:JV9 9J <MKy AG"/ J=. 9pK/V=V
;6 U J6 K &M
K=V96 6J <JBJV/ /JBJ= 9J 6p U J6 9pKy= K974 B V/ 7JV=
" BJV/ ?rK; "V.= v2Jv]p K6=J7J K6K/ =J= '6p v]JK7/ U J6
<e7JK/ 9J 9p9v]J _&J T/:JV9 9p9BJV= "JK8>K/ K=V96 6JO
O .=51<G'0 *r=$ < 0#Aoo U J6 7K/JV6= U J6 JV' U J6 ;KB>J

K6<My 3JK V> K/K6 U< 74;<qJ4J= UBJ6 6J U 6 /J= 7K/ y 7K/JV6= 6p
U B ;6 U J6 J%=. K=V/ 7JK=V96 6J <JBJ ?L> K G9J :4r'V6JK%/
9K>EJ ".p B V/ 7JV= K G9J <JBJ y ;KB>J= ?J>L6/J AlkV;= 7K=7e]LO
101
202
O F)<= 2 <0> =,,0#> F*2Aoo A= J= K9K5 7.E6 K=EJ

J V6= 5L6 U J6 JV4? 'J=L= 7K/ K65qJ=. K=V/
7JK=V9 9G
! U J6 ;JK> V
J V6= VV?p K6EK;/ 9J A;VE A;VE
BJV/ K>K!/ K99=.L 4JK!V>= '6p K6V4q? K4V/ 7JK=V9O
O =$*7 ,X=^
BJ U< 6JV; K:KB/ B
7K=%J> 75J6 7K=4?q
*rJ 9Mp6JV>= U%EJ=;pJ6 9J U
U8Y'4J=L 4K9K5= 5J=J
6p U J6 U6JK*? 9J U7JJ= >* J EJ U4 EJ= '6p K6V4q? K4V/

7JK=V96O
O =$*7 =,G23 ,\L<7 ,<6> 0 ,< <=c)<0 .<=1G 0 '<=7$SAoo U<
U{V U J6 JGK"6J= K9K:6g 9JCL K9K:6g ;JK>V = v2/e 7K/JV6= 9p9BJV== '6p
:JCJ U4 EJ BE UA U{V JK6J= ;JK> =JvbJ 64q;J 7JK6 A=9=JB JV>J
v2Jv]p 9p9v]J= ;/ AJ5J=. UA9J AMV<J" AMK95J= 9p9v]J 9J ={V.= '6p 4JEL
3JK V96O
U< U{V U J6 JK6J= v2/e 9G v2EGAlP.q 8tpJ* 9J 9JCL K9K:6g
;JK>V = v2/e 7K/JV6= 9p9BJV== '6p :JCJ U4 EJ BE UA
U{V JK6J= ;JK> K6;gK>K!/ K9@VE
J 6 9J K9K5= K95J6
:G" 9J >G#V6= '6p ;6:JV9 4JEL B V96 U<6 K/K6 y
7K/J6A;PVB= ;JK> <3JH
7JE!J6J U7?J9!J6J 9G U5Y/ =. AMK95JA;PVB 7JK6= K:6g
A=9=JVB= 9p9v]J =J
! JK6J= ;JK>V = ;6 > J 9J <e7JK/ U9CJ U4 EJ <JBJ U J6
:JCJV*= 9p9BJV== '6p K9V?@:JV9 /JBJ= K6 * BvbJeb= =J BE
6J
" 7V== />J 9G 8tJ*}K>= '6p K6=J74 <J/JEJ/ 9p9v]J 9G KAIKC
K:6g 7V3= 7K=uZJ= 7K=_&6g/J
# K"g JV= U{V AJ95J6/J;P> 9p9v]J
$ BVE 9G VJ>6 <Ve= 9p9v]J ={. 9G
% JK6J= 6p U J6 K:6g AMK95J ={.O
U< U{V U J6 JK6J= K:6g 7JE!J6J U7?J9!J6J U5Y/ =.
AMK95J<My v2/e { K9K:6g ;JK>V = v2/e 7K/J6 KBAJV9
9p9BJV== '6p :JCJ U4 EJ BE UA U{V 7 5J=J
= K95J6
7V<J'p B V9O
U< U{V U J6 JK6J= U J6 { 9J U?V,= K9K:6g G? K9K:6g
;JK>V = v2/e 7K/J6 KBAJV9 9p9BJV== '6p :JCJ U4 EJ BE UA
U{V JK6J= ;JK> 7; 5pJVE= 5J=J
9G
9p/L/
9G @ 5pJVE= 5J=J
9G
9p/L/ 9G
5J=J
= U J6 K95J6 : 9J >G#V6= '6p 4JEL 3JK V96 H
/V9 ?/q 3JV U< 5J=J
9G
= K95J6 AlV q
U 9>;J /JBJ= K6Ee.J5L6 U J6 K9@VE= AKB/ AGK? K95JV6=
)G4, 5 G,)Aoo
J V6= 5L6 U J6 U9JV,q=
6J U 6 U%EJ=;pJ6 9J U J6 A4Ap 9J ;q /qJ ?r;
:K9@p /BK9> K6Ee ?r; J4J>V/= U%EJ=;pJ6
J6 A4Ap 9G K9G? 5pJVE= 5L6 K6<My U J6 9pKy
= V3q '6VA9 9K>EJ ".p B V96O
O 401 =,2W<G4 E$ < .Y 0`#Aoo

J 6 K9K5 7K95J6 9J
vZLV;= 5L6 A=> K9?nJVA AlJK4/ 9J AlJ4V6= '6p K: U J6 JV'= '6p
U J6 9pKy 9J /qS7V{= K9=^V U J6 U4 EJ6L 9J U8Y'4J=L ;J;>J =^'M 9J 6p
U J6 J 6"/ J<qz; "B. =J <J V9 6JO
O =$*7 F`Gm < @0>0 ,$Y.<) 2$Y<,1> 490`#Aoo
J 6 39J
U J6 K9K5 7K95J6 9J vZLV;= U J6 K &M
J 6 79/q6 B EJ= A;E BJ= J=J
=KB/ U J6 J V6= 5L6 39J U J6 U=JVE4J4 %NKy K6uK 9J 7%K>/ 73J=
5L6 U J6 ?rK;V = U:J" T/ K5 J= 9J AMV<J" AMK95J K/K6 </K46 y
79/qV6= /JK=V! U< ;JK>V = 5L6 ;q=/ K&V>6 UA ;JK>V = 5L6 %J N=L=/
3JK V96 //K46 7<qeb 9pJB/ 9J {K/"v] K=V9 6J <K4 /JBJ= y K5 J= 9G
AMV<J" AMK95J
J 6 K9K5 7K95J6 9J vZLV;= 5L6 74 K5 J= AMV<J"
AMK95J B V/ K5 /= 6M P> BEO
O < ) =,=( ,9 *r=,(<G)0 4<049G`* *r'2Y)Aoo
7V/p
7K/JV6= ;JK> BJ= 9J BJ= U J6 ;qv]V>= 75J6 7V9? 7V3 39J BJ=
K6 V* U J6 7 J?p 'JE"JE 9J <J/JEJ/";p v]JV6
J 6 9G K9K5
7K95JV6= '=^=L 9J }=^/i7P.q K95J6A;PVB= AJ= AGV{7 Al2K>/
K* U6JK*?
>* J EJ K4V96O
7 5J=J
= 5L6 74K?q/ A > U6JK*? 7K=uZJ= 9J AMN:JV9
7K+/9p 9v]JE =JK!V/ B V9O
75J6 7K=4?q ;JK>V = 7= 'J=L T/ K>K!/ JV4? J=J /JBJ=
7K/JV6 K6VEJK'/ ?rK; "V.= v2Jv]p K6=J7J 9J >pJ. AlV q
203
102
204
U{V /JBJ= 4JKE/i 3JK V9 H

J= ?/q 3JV U< JK6J= ;JK> /qS A=9=JB T/ 39J /JBJ=
;JK> J6J5L6 U J6 <e7JK/
> J AlV q @ 5pJVE=
K95J6}K> ;JK6EJ %>J= '6p K/K6 4JEL 3JK V96O
75J6 7K=4?qV = A= JV== K6Ee. AJV7V{
5J=J= K95J6
7J>6 AlV q JK6J= ;JK> V 7VEJ'6LE U J6 JV4? U4 EJ=
{;/J 3JK V9O
7 5J=J
9G
AlV q
J V6= VV?p K6<My
?rK;V = AG!pJ ".6J= U{V A;vb JK6JV
K* ;J 7K/J6
KBAJV9 ".p =J B V9O
KAJeb U=JVE4J4 39J =JVE U J6 ;q /qJ /qS7{ AJK>A ;5pv]/J J=L ?r;
J4J>/ 9J *rJ 9Mp6J> /qS U J6 U*r, K6E6 AlV q 39J U J6 9p9AJ 9JK.'p
AlV q /4eb 9J 6MAJ6 JV> 7J ;6 U J6 /3p K>K79 =J <J V9 6J <JBJ
/JBJV4= AloMV! U7? T/ AJ{p 9p/L/ 7J EJ <JE 6J <K4 AGK? U*r, K6E6
9J 7K/J6 K>K!/:JV9 y /3p U"J76LE 9K>EJ K9V9%6J =J= '6p 6MV=J5 V=
39J y=R7 U J6 J<q5J=JE y=R7 U J6 /3p AGK? U*r, K6EV6= 39J
7K/JV6= K>K!/ AloK/ 9pK/V=V 7 J? =J <J V9 6J H
/V9 ?/q 3JV U<
5J=J= U J6 K &M U8Y'4J=L 4K9K5= 5J=J
= 5L6 U J6 U8Y'4J=L J<q5J=J= VV?p y=R7 /3p 7 JV?= U{V 7V<J'p
B V9 6JO
O $&X 49 rG50 `.$<Aoo

J 6 39J U J6 K9K5 7K95J6 9J vZLV;=
5L6 4JKE/i 7J>6=/ U J6 U9J,q 39J U J6 ;q /qJ 9J /qS7{ BJ= 4JKE/i
7J>V6= VV?p 7VEJ'6 B V> U J6 ;JK> V /F /qS K65qJK=/ U J6 U= ,q
4K>> 4vbJV9' 9J /3p A=9=JVB= '6p 39J 6p U J6 J' AlJ4V6= '6p
K6V4q? K4V/ 7JK=V9 9G y ;JK> V y=R7 K6V4q? 7J>6 K=V/ B V9O
O F,<G!Y0 </Y(<0< 0`#Aoo

J V6= 5L6 "K+/ U J6 U9JV,q= BJ
U< 6JV; K:KB/ B 6J U 6 U J6 74 ?P.p =KBEJV& 39J BJ= "+V6 U J6
^K* =KBEJV& 39J BJ= U J6 A4VAp= K6<MKy 9J U<J"p/J AlV q U J6 ^K*
=KBEJV& U 9>;J
J=V. BJ= U J6 J<q 9J J<q5J=J X95 B V9 6J 9J
/FAlV q U J6 7?g =J <J V9 6JO
O =)G7< 4UG Y )?.<)Aoo U J6 9pKyV U J6 J=!J6JE BJ= J'

%>J JV> JBJ= 9J K9?rJV;= '6p K9=K/= A;E 9p/L/ 6p U J6 A;VE 39J
BJ= U J6 <e7JK/ %J>M 3J J JV> 7J EJ <JE /JBJ B V> K:6g=R7 7;J.L/ 6J
B EJ 7<qeb K/K6 y A;VE J=!J6JE K6<My K&V>6 9K>EJ ".p B V96O
O F,<G!Y0 F.7<' `.$< </Y(<0< $X<=' 4UG Y 4<(<0# =,(<)Aoo

J V6 K:6g=R7 K &M 6J 3JK V>
J V6= 5L6 v]JK7/ 9J "K+/ U J6
U9JV,q= BJ U< 6JV;
K:KB/ B
6J U 6 U%EJ=;pJ6 39J 6pJ6p
A4Ap"V.= J<q J> /JBJV4= ?P.p74 7P=. BJ= 9G BJ= K;K*A;PVB=
J<q5J=J
J' ;q 7K=%J>6J 9G A:JE 7Kv]K/= '6p /JBJK4"V 7V4E :J/J
K9K5 J=J K65qJK=/ B V9O
J V6 K:6g=R7 K &M 6J 3JK V> y=R7 U J6 U9J,q BJ= J<q
AlJ4V6= VV?p
U J6 ;JK> V /F /Tq K>K!/ U J6 U= ,q 4K>> 4vbJV9' 9J
/3p A=9=JB 39J 6p U J6 J' K=9J= '6p K6V4q? K4V/
7JK=V9
! U> 4vbJV9'
7K=4?q6 K=V/ 7JK=V9
# y 7K/JV6= 9p9v]J76J AlK q/ U J6 9pKy= 9y9p K>K79
K=V/ 7JK=V9
$ U J6 U4 EJ6L J4J>V/= ;/
O =$*7 $&X *r <G2 ,<(< =)G3(Aoo

J 6 39J U J6 K9K5
7K95J6 9J vZLV;= 5L6 U J6 4JKE/i 7J>6 JV> U J6 F7J46 9J 9p9AJ 9JK.'p
AlK q/ U"J76LE /3p AlV q U J6 9pKy= > J6 9J 7J /3p
J 6
7VEJ" AlV q 9p/L/ 6p U J6 U{V /JBJ= %J N=L J>L6 A;VE 39J %J N=L
/pJV"= 7= 7 J? K=V/ 7JK=V96 6JO
y U"J76LE /V3p= ;JK>V = K>K!/ 7P9q 6M;K/zV; 39J
J V6= 5L6 ;5pv]/JAB 6p U J6 J 6"/ J<qzV;= VV?p
39J /FAGzJeb U J6 U8Y'4J=L J<qzV;= 7VEJ'V6 39J
y=R7 J<qz; AlV q U J6 K=V7J*q 74JV6= '6p y=R7
U"J76LE /3p 7 JV?= U{V 7 5J=J
= K &M 7V<J'p B V9
6JO
O =$*7 =,3G7 F <*)>7$< 0`<Aoo
205
J V6= 5L6 U J6 K=V7J*q

103
206
U J6 9pKyV BJK'= B V/ 9G ?73J5L6 '9J69f4L K4V/

9J5p K=V/ 7JK=V9
U J6 4K>> 4vbJV9' 9G U J6 9v\ U7? K=V/ 9J5p K=V/
7JK=V9 9G
AJ{p "BV.= '6p K;?6 U7=. K=V/ 7JK=V9O
U9JV,q= y=R7 {;/J BJ= U%EJ=;pJ6 39J /4 VV?p
{;/J 7J BJ= U J6 A4Ap 9J ;q /qJ 7VEJ" K=V/
7JK=V96O
7K/JV6= 4JKE/i 7J>V6 9pKE/ A;E 9K>EJ ".p B V9O

5J=JE 7<My /qS7{ 9K>V/ A= J= 39J
5J=J= 5L6
7K?{. U JVAq= 9p9v]J 7K=%J>6J= '6p A= J= /qS v]JK7/ 9J
A= JV== K6 * B V/ {;/J7J U J6 7K/J6 9J /qS7{V
9M(J V9O
5J=JE <JBJ K &M 3J N 6J U 6 U J6 U<Y3 4= @J K@
7K/K6K5 9J U*r,
K6E6 U8,JV=?6 ?r; 7K=%J>V =
6MV;J46zV;
6K5 AJ/ K4V6= U;EJV4 U*r,
K6EV6=
;q /qJ"V.= '6p
J V6= 7= 7K?{. U JVAq= 9p9v]J K=V/
7JK=V9 9G ;JK>V = 6M;K/zV; y=R7 U JVAq G?"B. J=L
U J6 9pKy= U{V 7 5J=J
= K95J6 7V<J'p B V9O
O 4. <G 0 )X 4. . ?0> *r'<)Aoo U J6 ?rK;V = '6p U J6 ;'M=L

K65qJ=. 9J K6;g/; ;'M=L= BJ= Kv]=L =V.= U{V
7 TK/= 9J
;J6 9J
;PV>p= JV'= '6p ;KB>J 9G 7M=^@ ?rK; "V.= '6p A;J6 ;'M=L= 6LK/ 6MA=.
K=V/ B V9 9G /4AGzJeb U J6 K9@VE 6J=L 7M=^@ U:V4= J=V. U J6 W9@;p
=J <J V9 6JO
O F Z! =)7G)0 =$*7 .Y <j =)=3sAoo U J6 U*r, K6E6 BJ=

"+6/Ve >{p 9J V?p KBAJV9 9K.q/ BE 6J =R7 U J6 ;q JV 'KC/ 3JK V/
7JK=V9 6JO
O 4<(<0# F`Gm F < Y =+4Aoo

J V6= K95J6 AJV7V{ A= J=
K9K5J=J
J V6= 5L6 U J6 4=!Jvb J<q5J=J 9J J7LV>= '6p U J6 U J*q
K8A 39J 6p U J6 K8A K65qJ=. K=V/ 7JK=V9O
O )X <'<1G$0 =$7<G00 *0 ,<(< =)G3(Aoo

J V6= 5L6
?r; J4J>/ 9J *rJ 9Mp6J> /qS "B.V<J"p 9J K9%J=U<J"p U J6 U;J ;J
K:V<J" 39J 6p U J6 J 6"/ J<q5J=J 6p U J6 J4J>/ "B. K=V/ 9J
K9%J= K=V/ 7JK=V9 6JO
O =$*7 *r2R $X<=' 4U%Gv ,<(< =)G3(Aoo

J V6= 5L6 U J6
9pKyV ;6 U J6 7V?g= = K4V/ 39J 9y9p 74J6 K=V/ 9J5p =J <J V9
6J <JBJ /JBJV 7/p{ 9J 7V=J{:JV9 U J6 7=JV5= AKB/ 'KC/ K=V/ 7JV=O
O =,=( *r#7G)0 `.$<Aoo

J V6= V?p 7P=. V 39J
J V6= 5L6 K9K5 J=J K65qJK=/ B V9 9J =J <J V9 =R7 7V/p 9J UK!/ 5pJEA;PVB= 5L6 K6;g9K.q/ A > 9J UJ 9J/JA AJ>6 <MKyAG"/
/J7;JJ= ;J6 K65qJ=. 9G BJV/ /J7;J7 <e ={.
U J6 7K/JV6 BJ= 9'qp 74J3q 9G 'J> 7AJ=V.= '6p
7VEJ'6LE 9p9v]J K65qJ=. 9G K65qJK=/ /qS7{ /qS BJ=
6MV;J46
TK;:JV9 J4rq/J 9SK K=V/ BE = ; U J6 7K/JV6=
U{V
O
< G)0 *0 *r=2`#Aoo A= J= ?rK; "V.= ;JK> "V.=
U*r, K6EV6= ;q /qJ".V
J V6= 7= 7K?{. 74JV6= >V{p 7K?{.
U JAq 7K=%J>6J= '6p 7VEJ'6LE 74V{7 "B. K=V9O
7<My /Tq7{ /qS
J/ B V> ?rK; "V.= U*r, K6EV6=
U J6 ;q /qJ y=R7 7K?{. U JVAq G?"B. K=V96O
AJ5J=./H 6Mp6 7J? '6 ?rK; K6VEJ" J=L U J6 7K/JV6=
;JK>
39J /F /qS K65qJK=/ 7K/JV6= U J6 ;q /qJ 7<My
/qS7{ /qS
J/ B V> y=R7 7K?{. U JVAq G?"B.
K=V96O
y=R7 7K?{. U JVAq= 9pE A= J= /qS K65qJK=/ 6M7JV/
A= J= 9G ;JK> 9B6 K=V96O
y=R7 7K?{. U JVAq G?"BV.= '6p 9pKE/ A;E AGK?
207
104
208
J4rq/J= ;J6 K65qJ=.

TK;:JV9 9J/JVA= J4rq/J 9SK= 7e]J K6Ee.
9J/JVA= J4rq/J K65qJ=. K>K79 =V.= '6p 7=L{J
9G
# 7<qJ JV>J 9J/JA 9G 9J/JAV +JJ =J!J K6K/
=J= '6p 7e]J K65qJ=.
7V/p 7K/JV6= '6p 7<My 9G 7<qJ JV>J= ;J6
K65qJ=.
U J6 7K/JV6 7J6 =J= 7JK6 AlV q K95J6 ;JK6EJ %>J
K6K/ =.
U J6 7K/JV6= '6p 7JE!J6J U7?J9!J6J= AG!pJ K65qJ=.
U J6 7K/JV6= '6p K7 4J6L= 5=6 AG!pJ K65qJ=. 9G
BJ= v]J76 9G <3J<3 ={.JV9{V.= 9p9v]J =. 9G
U J6 7K/JV6= v2Jv]p ={J Al2V K/K=y 9p9v]J K65qJ=.
! @ 5pJVE= 5L6
U J6 7K/JV6= U J6 K9V?@ <e7JK/ 9J BJ= G? AlV q
K/K=y A/ q/J;P> 9p9v]J= K95J6
U J6 <e7JK/= K976
GV?= K6=J7J;P> 9p9v]J
K65qJ=.
U J6 VJ> <e AlV q 6MA=.LE K/K=y 7VEJ'6LE
9p9v]JK4 K65qJ=.
U J6 > J 9J <e7JK/= 7=L{J 9G /FAlV q K/K=y
K6=J7J;P> 9p9v]J K65qJ=. 9G
U J6 7K/JV6 ;KB>J 7M=^@ 9G K V?J= /qS AV9qJ_% :J=
9B. VJ>6 9J v]J6JebV== {;/J K65qJ=.
" 4?; 5pJVE= 5L6
y 5pJVE= 9Jvb9JEV6= 7VEJ'V6 ={L/9p U= ,q
U=K'J= K99=.L U6JK*? ={. 9G }K>= 8=; K65qJ=.
U J6 7K/JV6 ;q=/ ?rK; ".V 7V4E ;'M=L= BJ= 9.q6J
K=EJ BJ= U J6 7 J?p v]JV6 U6JK*? >* JV6J 9G
?rK; ".V ;'M=L 74JV6= 7VEJ'V6 ;JK>
/qS =K{/
9J*!J=J
'6 ;J7J= <e7JK/ 9G '6 ;J7J= 9p9v]JK4
K6EK;/ 7K=4?qV6= K95J6
J4? 5pJVE= 5L6

;'M=L= BJ= K65qJ=V.= '6p U9J,q /qS 6MA=.LE 7K/
K6;g/; ;'M=L BJV== J=J 7:JK9/ B V/ 7JV=6 =R7 A >
9pKyV /FAlV q ;eb9p 9G 7vbJ9 U7? =J= AMV<J" 4J6
9G
7VEJ'6LE A > 9 ;'M=L Kv7 U=K'J= 9G 6pJ6p
U= ,q7 ={. 9G BJ= 8=; K>K!/9p K9@EJK4 K65qJ=.
9G BJ 7;J.L =. 7K/
$ J4? 5pJVE= 5L6
?r; J4J>V/= BJV/ =K{/ 3q ;S/ ?rK;V = U7J@p"V.=
AMK95J= '6p K9K6VEJV"= 7e]J 9G y=R7 K9K6VEJ" T/ 3q
?r; J4J>/ B V/ 6p ?r; J4J>V/ BvbJebV== 9p9v]J
K65qJ=.
9pKE/ 3q 5J=J
= 5L6 ?rK; "V.= 7 JV==
'6p "K+/ /BK9V> BvbJebV== 7e]J 9G
/BK9V>= "+6
7?JAV6= 9p9v]J
%NKy6J;J U7? =J= 9G BJ U=K'Kr =V.= '6p 8=;
7e]J K65qJ=.
7M6K9qV9%6J AJV7V{ ?r; J4J>/ /qS ;JKA {K/7P=.
74J6 AlP.q 9J JGK? v]K"/ =. 9G
?r; J4J>/ /qS U=K'J= 9G J<q5J=J ={.
% A4? 5pJVE= 5L6
:K9@p /BK9V> ;JK> /Tq /JBJ= 9G ?rK;V = %IJ4J 74JV6=
A;E 7K/ 9G y %IJ4J J4JVE= 7e]J K65qJ=.
:K9@p /BK9> 7K=%J>6J= '6p *rJK U9JV,q= {;/J 4JKE/i
:K9@p /BK9> B V/ 3q +J 9J= ?/qJK4 9G /FAlV q
6MV;J46LE /q6 9JV'EJL 9G BJ= AV9Jq_% 7K=;J.
/>9 =J B V> U J6 ?rK;V = /JBJ= K6V'=
7K=9J=
AlV q /3p A=9=JVB= 8=;
U J6 ?rK;V = ;S/Np B V> /JBJ= 6JV; ';J 3q 74JV6= '6p
U J6 9pKyV ;V6J6E6 9G y=R7 ;V6J6E6 9JK/> 9J
AGV?J56
:K9@p /BK9V>= A4Ap". AlV q U= ,q U=K'J= ={.
!
"
209
105
210
&
9G A4Ap". /qS A=9=JB K=V/ B V9 =R7 K99=.L

U J6 %IJ4J J,q K64?q6 9J %J K/= 8=; 9J 6;M6J 9G BJ=
K9/=. UB8J'/ 7K/v]J76 9G
:K9@p /BK9> B V/ U J6 A4Ap /Tq 'L96 9L;J= '6p
K7K;EJ; 74JV6= 6M;K/= ?/qJK4
J4? 5pJVE= 5L6
K?{J5L6 9pKy= K69qJ%6 9G K?{J5L6/J %NKy= ?/qJK4
K?{J5L6"V.= ?S`!>J >pJ. /iJ95J6 9G K6Ee. AlK q/
7K/
K?{J5L6"V.= 7K?{. AlV q ;JK> /qS ={.LE U= V,q=
8=;
7<qJEzK; 7=L{J 9G AJ8>p'6 :JV9 7K?{. A;J7V6=
7= 74 7/pE67 9G
9p9BJK= 9G /JKi 7=L{J= ;J6 K65qJ=.O
O =,=( *r=,(<) \J>G. 'Gj0 =,(<)Aoo U J6 K9K5 7K95J6 9J vZLV;

BJ= U J6 K95J6 :G" 9J >G#V6= '6p 6K5 K/6;JA 7<qeb J=J4 39J
6K5
BJ'J= *J J 7<qeb 3q4 39J :E 4V= K95J6 =J!J <J V9O
O 0=5$ 0#
=J B > <3J
!
"
#
$
%
&
'
(
F5+< $Aoo
K6;g K>K!/ J 6A;PB /J=J =KB/
The Workmens Compensation Act, 1923 (VIII of

1923);
The Children (Pledging of Labour) Act, 1933 (II of
1933);
The Workmens Protection Act, 1934 (IV of 1935);
The Dock Labourers Act, 1934 (XIX of 1934);
The Payment of Wages Act, 1936 (IV of 1936);
The Employers Liability Act, 1938 (XXIV of 1938);
The Employment of Children Act, 1938 (XXVI of
1938);
The Maternity Benefit Act, 1939 (IV of 1939);
The Mines Maternity Benefit Act, 1941 (XIX of
1941);
211
) The Motor Vehicles (Drivers) Ordinance, 1942 (V of

*
+
,
.
/
3
4
5
6
7
8
9
:
;
1942);
The Maternity Benefit (Tea Estate) Act, 1950 (XX of
1950);
The Employment (Records of Service) Act,
1951(XIX of 1952);
The Bangladesh Plantation Employees Provident
Fund Ordinance, 1959 (XXXI of 1959);
The Coal Mines (Fixation of Rates of Wages)
Ordinance, 1960 (XXXIX of 1960);
The Road Transport Workers Ordinance, 1961
(XXVII of 1961);
The Minimum Wages Ordinance, 1961 (XXXIV of
1961);
The Plantation Labour Ordinance, 1962 (XXIX of
1962);
The Apprenticeship Ordinance, 1962 (LVI of 1962);
The Factories Act, 1965 (IV of 1965);
The Shops and Establishment Act, 1965 (VII of
1965);
The Employment of Labour (Standing Orders) Act,
1965 (VIII of 1965);
The Companies Profits (Workers Participation) Act,
1968 (XII of 1968);
The Industrial Relations Ordinance, 1969 (XXIII of
1969);
The Newspaper Employees (Conditions of Service)
Act. 1974 (XXX of 1974); Ges
The Dock Workers (Regulation of Employment) Act,
1980 (XVII of 1980).
y=R7 =KB/ =. AVi y U J6 =KB/ J V6= 5L6

T/ U J6 J' ;q 39J 7.L/ U J6 K9K5 7K95J6 9J vZL; 39J
'J=L T/ U J6 JV4? K9K 9J 7J76 39J K6VEJ" T/ U J6
212
U%EJ=;pJ6 A4Ap 9J ;q /qJ 39J "K+/ U J6 J4J>/

*rJ 9Mp6J> U9J,q K;K* 9J /BK9> 39J 74 U J6 U6JK*? 39J
U=K'Kr T/ U J6 U*r, K6E6 9J U8,JV=?6 39J K69qJK%/ U J6
U<Y3 4= @J K@ 7K/K6K5 39J 4JVE= T/ U J6 K:V<J" 39J
U7? T/ U J6 4=!Jvb 39J ;M=L T/ U J6 6M;K/ >J VA
"+6/e %J N=L K9K5 9J 9pJBK/ 39J "SBL/ 9J =^ T/ 6p U J6
9p9v]J 9J J<q5J=J
J V6= K95J6J9>L= AKB/ AJ;Ap7P.q
B EJ AJV7V{ =KB/ 9J AGV?JK5/ 6J B EJ 7<qeb 9>9F 3JK V9
9G
J V6= AGK? 5J=J= 5L6 T/ 7.L/ 'J=L T/
K6VEJ" T/ "K+/ 74 U=K'Kr T/ K69qJK%/ 4JVE= T/
U7? T/ ;M=L T/ "SBL/ 39J =^ T/ B EJV& 9K>EJ ".p B V9
!
J 6 79/qV6= /JK=V! U J6 J4J>/ 9J *rJ 9Mp6JV> K9%J=J5L6
U J6 ;J;>J 9J J<q 5J=J y J4J>/ 9J *rJ 9Mp6JV> %J>M 3JK V9
9G /F /qS 6J6L K6uK =J B V9 U<6 y J 6 =KB/ BE
6J O
O
.B1 *< ,9 9G0 >G$ *< Aoo

J V6= ;P> 7J+ 9JG>JV/
B V9 9G GV='LV/ BJ= K* 6PK4/ K6:q=V<J"p 7J+ 3JK V/
7JK=V9H
/V9 ?/q 3JV U< 9JG>J
GV='L 7JV+= ;V5p K9V=JV5= U{V
9JG>J 7J+ 7J5J6p 7J V9O
213
107
214
/8KA>
*r&. $+=41
9SJG}K> 9G BJ= BJC BJ=JV6J
BJV/= %J=K* JG}> BJ=JV6J
BJV/= K/6K* JG}> BJ=JV6J
BJV/= 4M K* JG}> BJ=JV6J
9SJG}K>= BJVC= U?@ G? BJ=JV6J

JK*EJ U8>J= #*6J 6LV%= G"
05J=J
\L<7> <9=2
9G 5J=J
`.$< 4D={ <0> ,=17< #X
4r9p1
G.0 $<=1 <
zK;
6G
'!V;= 9.q6J
:E BJ/ BJ=JV6J 9J 7V== G? B V/ JK*EJ U8>J
BJ/ 9J
7J BJ=JV6J
:E U%JV!= 4SK ?Ky ;6 7K=;JV. BJ=JV6J <JBJ 4SK

?Ky= 7VEJ'6 BE =R7 U J6 J' K=V/ 4J9L4J=V
{; K=EJ U8V>
:E 7J 9J =^ JK*EJ U8>J 39J

7JV?= 7J 9J
=^ JK*EJ U8>J 9G UJ= #*6J 7V== G" UJ
IJV5= 6LV% ;6:JV9 JK*EJ U8>J U<!JV6 J*J= 7=

9K? G? pJVzJK;EV6= ":J" B V/
UAKf*K;*JV== ; 3JV
pJVzJK;EV6= ":JV"=
UAKf*K;*J= B V/
K>Vz6V6= ":JV"=
UAKf*K;*JV== ; 7<qeb
JK*EJ U8>J
BJ/ 39J 9SJG}K> 9G

BJV/= %J=K* JG}>
BJ=JV6J 39J K>Vz6V6= ":JV"=
UAKf*K;*J=
6L% B V/ JK*EJ U8>J
9SJG}K> BJ=JV6J
215
108
:E 7JVE= 7J/J JK*EJ U8>J
:E 7JVE= 7J/J 7K| ;pJ> B V/ 7JVE= U"JCJK> 9G

JG}K>= {N4r BJVC= "Ke] 7<qeb JK*EJ U8>J
:E 7JVE= A > JG}> 7JVE= U"JCJK>= BJVC=

AKB/ JG}V>= {N4r BJVC= "Ke]= AGV<J" 7<qeb
BJ=JV6J
7K| ;pJ> B V/ 7K| ;pJ> f*J=V8>J6K'VE> "Ke]

7<qeb :E 7JVE= A > JG}> BJ=JV6J
K,A*J> B V/ 7K| ;pJ> f*J=V8>J6K'VE> "Ke] 7<qeb

:E 7JVE= A > JG}> BJ=JV6J
U J;V== K6;g:J" B V/ JK*EJ U8>J
U J;V== K6;g:J" B V/ ;6:JV9 JK*EJ U8>J <JBJV/

JK*EJ U8>J= 7= 9K? G? U<6 >l2JE U"*
U*rJ%Jf*JV== ":J" B V/
UAKf*K;*JV== K5
K e\ ;5p =^= 9JKBV= 6J BE
U J;V== K6;g:J" B V/ ;6:JV9 JK*EJ U8>J <JBJV/

JK*EJ U8>J= 7= 9K? G? U<6 >l2JE U"r*
U*rJ%Jf*JV== ":J" B V/
UAKf*K;*JV== K5
6J BE
;5p =^ B V/ BIJ*N= 6LV%

U8>J
UAKf*K;*J= 7<qeb K*EJ

216
BIJ*N= 6LV% ;6:JV9 JK*EJ U8>J <JBJV/ 9K?JG?

UAKf*K;*JV== U9?L K e\
UAKf*K;*JV== K5 6J
BE
BJC 6J BJ=J EJ JG}V>= ":J" JK*EJ U8>J

)<=. < &,< =)| <9b1
AlP.q
4M K* {N4r Kv]
K* BJC
BIJ*N= 6LV% ;6:JV9 JK*EJ U8>J <JBJV/ 9K?JG?

UAKf*K;*JV== K5 BE
7JVE= 7J/J JK*EJ U8>J <JBJV/ BJ J=J 4IJCJV6J

Alj9 6J BE
7K| ;pJ> B V/ 7JVE= U"JCJK>= BJVC= AKB/

JG}V>= {N4r BJVC= "Ke] 7<qeb
7JVE= 7J/J
JK*EJ U8>J
7JVE= 7J/J=
7<qeb
7JVE= U"JCJK>= BJVC= AKB/ JG}V>= {N4r BJVC=

"Ke] 7<qeb
7JVE= A > JG}> BJ=JV6J
{N4r Kv]= K &M G? BJ=JV6JAB
)X<)X
!<) ,< ,<. *<G70 <9b1o ,Ds<9b1
U J6 'K*>/J &JCJ
v2J:JK9
U%J! BJ=JV6J
U J6 'K*>/J 9J U%JV!= ;K6= K9 TK/ &JCJ

U%JV!= 4SK?Ky BJ=JV6J 6p U%J! v2J:JK9
7JVE= 7J/J=
7<qeb
6p U%J!
O
O
O
AlP.q
4M K* {N4r Kv]
O
O
JG}V>=

.(X. <9b1
AlP.q
4M K* {N4r Kv]
K* BJC
JGK?
JMV>= U&J*
*<G70 '? =
*<G70 =$)=
7JVE= 7J/J=
7<qeb
109
Kv]= AGV"
,Ds<9b=1 <6<
217
Kv]= "Ke]
Kv]= "Ke]
JGK?
<9b1
7JVE= 7J/J= Kv]= AGV" JMV>= U&J* Kv]= "Ke]

7<qeb
{N4r Kv]= K &M G? BJ=JV6JAB JGK?
,Ds<9b=1 <6<
K* BJC
JMV>= U&J*

,Ds<9b=1 <6<
!<) ,< ,<. 5<G$0 <9b1 $ Y)> <9b1

O
Kv]= AGV"
)X <9b1
Kv]= AGV"
<9b1
JMV>= U&J*
*<G70 <0=
JGK?
<9b1
7JVE= 7J/J= Kv]= AGV" JMV>= U&J*

7<qeb
{N4r Kv]= K &M G? BJ=JV6JAB JGK?
218
Kv]= "Ke]
Kv]= "Ke]
=t$>7 $+=41
05J=J
O 8AV'6'J/ K9@KzEJ
O U7?J"/ pJJ=
O J VAJKAVE6JK*A 'J/ K9@KzEJ
O K9@KzEJ'J/ 9Sw 74JB
O l6 'K6/ U7?J"/ 9pJK5O
4r9p1
F)<= 2 '<)G/< X ,X<=(0 $<=1 <

O ALAJ 'J/ K9@KzEJ
O ALAJ U*=J 3J >'J/ K9@KzEJ
O 8A8=JA'J/ K9@KzEJ
O 7J=4'J/ K9@KzEJ
O 'J/ K9@KzEJ
O JVAqK6 'J/ K9@KzEJ
O AM=J #K*/ U5IJEJ= K9@KzEJ
O J9q6 9J AJ>8J , 'J/ K9@KzEJ
O U9K6 9J BJ= A4S?p U J6 9v\'J/ K9@KzEJ
O UzJ; 'J/ {/
O pJ63rJ|
O KAK>V JKAA
O UBV>JV'6A 'J/ K9@KzEJ
O | V= 39J U=K,EJ; 9J 6p U J6 U/'Ku[E 74J3q 'K6/ J=V.
W4KB K9 J=
O %J;CJE 7J3K; K7K3>V;*JA pJJ=
O K9@KzEJ 'K6/ =yBL6/J
O K9@Jy 9v\ B V/ djM/ K9@KzEJ 'K6/ 'KA
O !K6' U/> 9G !K6' U/> K;K?r/ U J6 U<YK" 74JV3q= J=V. djM/
W/>Jy 9r. 39J %;q 74JB
O 9J AAJ 6KAA
O pJAV9A*KAA
O =JAJEK6 74J3q 9G =GVE= 7/p{ AGvV?q JAJ= J=V. djM/
U7?J"/ 9J v?q'K6/ %;q 74JB
O _% ? 'K6/ 9K5=/J
O 9pJK=>K>EJ;'J/ K9@KzEJ
O J9q6 ;V6J| J ,
O E>J !K6 ?rK; "V.= K8 V;J K6 KAA
219
110
220
$E$>7 $+=41
05J=J
J9q6 9J AJ>8J , JV& ;6 U

9v\M 9p9BJ= =J 39J 6JCJ %JCJ
39J BJ B V/ K/ U5IJEJ
9JVu= AloMV! 6mMy B V/ BE
U J6 J' =JO
4r9p1
F*2< $ ,X<=(0 $<=1 <

zK;
6G
U7?J"/ 9pJK5
%J N=L
O U*rJV8tJK=K36'J/ K9@KzEJO
U*rJV8tJK=K36 JV& ;6 U J6 9v\

9p9BJ= =J 9J 6JCJ %JCJ =J 39J
BJ JV& =R7 U J6 9Ju 9J U5IJEJ=
AloM!L6 B V/ BE ;6 U J6 J'
=JO
92
O
pJ63rJ| O
U %N> ?y {M4r U>J; 'e\=
;S/V4B 39J 7K=/pJy G? K6EJ
J' K=V/ BE
! pJ63rJ| U=JV" JzJeb U J6 'e\
AGzJeb J' K=V/ BE 39J
" U J6 7.p 4r9p +JV6J 6J;JV6J
39J 7K=9BV6= AGV" AGK? J'
K=V/ BEO
O AG NK%/ 9JEM'K6/ AMv]/J

9G BJ= 7K=.J;O
AG NK%/ 9JEMV/ U J6 7KzEJ %J>JV6J=

J'O
O ALAJ U*rJ K3>'J/ K9@KzEJO
ALAJ U*J K3> 9p9BJ= =J BE ;6

U J6 7KzEJ= U J6 J'O
O 6J *rJA U5IJEJ'J/ K9@KzEJO
6J *rJA U5IJEJ= AloMV! 6mMy B V/ BE

;6 U J6 7KzEJE J'O
O ;pJG"JK6' 'J/ K9@KzEJO
;pJG"JK6' 39J ;pJG"JK6' K;K?r/

U J6 9vbM 39J ;pJG"JK6' JV& ;6
U J6 9vb 9p9BJ= =J 6JCJ %JCJ =J
39J BJ B V/ K/ U5IJEJ 5P>J 9J
9JVu= AloMV! 6mMy B V/ BE ;6
U J6 J' =JO
O J9q6 9J AJ>8J , 'J/ K9@KzEJO
J9q6 9J AJ>8J , 39J J9q6 9J

AJ>8J , K;K?r/ U J6 9vM\ 39J
221
J6
=J
9J
;6
O L*6J? 'J/ K9@KzEJO
L*6J?
@5 &CJV6J= U J6 J'O
92
O U>7V*JAK7=J V*V=J KBV;J
U=K' J'J/ AGz;.O
111
I4M= 5MpK@/ v]JV6 J' =JO
O K,K6V*rJV86> 9J UBJV;>"'J/
K9@KzEJO
K,K6V*rJV86> 9J BJ= A4S? U J6 9v\

9p9BJ= 9J 6JCJ %JCJ =J 39J BJ
B V/ K/ U5IJEJ 9J 9JVu= AloM!L6
B V/ BE =R7 U J6 J' =JO
O *rJ KzKA> 8AV8*'J/ K9@KzEJO
*rJ KzKA> 8AV8* JV& ;6 U J6

9v\ 9p9BJ= 9J 6JCJ %JCJ =J 39J
BJ B V/ K/ U5IJEJ 9J 9JVu=
AloM!L6 B V/ BE =R7 U J6 J'
=JO
O UzJ;'J/ {/ 9J BJ= 7K=.J;O
UzJ; 'J/ KA, UzJV;* 39J

V;JK6EJV;= 9J VzJV;* 7*JK?EJ;
UAJK,EJ; 39J 4vbJ 39J A9 9vbM
J=J W/=L 9v\M 9J K;?r. 9p9BJ= =J 9J
6JCJ %JCJ =J= J'O
O "K>/ IJ% 9J "K>/
"K>/
222
IJ% 9J "K>/ 9J
5J/N
9J 5J/N B V/ K9_&MK=/
JV>J _&*J 9J U%J! (>AJV6J
JV>J B V/ AGz;.O
B V/ K9_&MK=/ JV>J _&*J 9J U%J!

(>AJV6J JV>J= AloMV! #6 #6 9J
4L#q{. 3JK V/ BE ;6 U J6 J'O
O U9K=>K>EJ;'J/ K9@KzEJO
U9K=>K>EJ; 39J U9K=>K>EJ; K;K?r/

U J6 9v\ 39J U9K=>K>EJ; JV&
;6 U J6 9v\ 9p9BJ= =J 6JCJ %JCJ
=J 39J BJ B V/ K/ U5IJEJ
5P>J 9J 9JVu= AloMV! 6mMy B V/
BE ;6 U J6 J' =JO
O 6JV = K(K>= U?uoJE J=KAV6J;J

9J 9J/JVA= AV AJ 6JA 39J
9rJG JA 9J 8NA8NVA= 7J3K;
J=KAV6JV;JO
;6 U J6 J=!J6JE J' U<!JV6

"pJA AG<My K6V V>= AGK;?r. K9">6
K=EJ K6V > 7v\/ =J BE 9G
y=R7 7KzEJ 9J /FAGzJeb 6p
U J6 7KzEJ 7K=%J>6J= '6p U J6
:9V6 J' =J= 7VEJ'6 BEO
O ;P 3K>= U7K7V>J;JO
;6 U J6 :9V6 J' U<!JV6

9JK.K'p
VV?p K6;gK>K!/ K'K6@
7v\/ BE <3JH
J>8J U=73J >J;J 6
U9*J6pJ73J >J;J 6
39J
U96K',J 6
39J BJV4= U J6
>9.
=J;J 6 39J U;V'6*J
! 7pJ=J
K>K!/ U J6
9v\ 9p9BJ= 9J 6JCJ %JCJ =J= J'
39J y=R7 U J6 K'K6@ 9p9/ BE
39J 9JKB= BE =R7 U J6 7KzEJE
J'O
O ALAJ'J/ K9@KzEJ 39J BJ=

7K=.J; ALAJ U*r*rJ K3> 'J/
K9@KzEJ 9p/L/ O
O 8A8=JA 'J/ K9@KzEJ

39J BJ= 7K=.J;O
O 7J=4 'J/ K9@KzEJ 9J
BJ= 7K=.J;O
7J=4 9J BJ= J=J F7JK4/ 9J

AGK;K?r/ U J6 K'K6VA= 9p9BJ= BE
=R7 U J6 7KzEJE J'O
O U96K'6 9G BJ= A4S?

74J3q'J/ K9@KzEJ 39J
BJ= 7K=.J;O
U96K'6 39J BJ= A4S? U J6 9vbM

6JCJ %JCJ 9G U96K'6 39J BJ=
A4S? 9vb 7v\/ BE 9J 9p9BJ= BE
=R7 U J6 7KzEJE J'O
O JVAqK6 'J/ K9@KzEJ

9J BJ= 7K=.J;O
JVAqK6 9J BJ= AGK;?r. F76g BE

&JCJ BE 39J 9p9BJ= BE =R7 U J6
7KzEJE J'O
O | V= U=K,EJ; 9J 6p U J6
U/'Ku[E 74J3q 'K6/ J=V.
W4KB K9 J=O
| V= 39J U=K,EJ; 9J 6p U J6
U/'Ku[E 74JV3q= AloMV! 6mMy B V/
BE =R7 U J6 7KzEJE J'O
O %J;CJE 7J3K;
K7K3>V;*JA pJJ=O
J> J/=J K7% K9*NK;6 !K6'X/>

7pJ=JK86
39J
BJV4= U J6
AGK;?r. 9J F76g 4r9p 39J BJV4=
U J6 9'qp 4rV9p= 9p9BJ= 6JCJ %JCJ
K=V/ BE =R7 U J6 7KzEJE J'O
O KAK> KAAO
KAK> J AGK;K?r/ JV& =R7 U J6

5P>J 9JK>V/ ?nJA U6 EJ= AloM!L6
B V/ BE =R7 U J6 7KzEJ= J'O
O E>J !K6= ?rK; "V.=

K6 K;V JK6EKAAO
ALAJ U*r*rJ K3> 9p/L/ ALAJ 9J BJ=

J=J F7JK4/ 9J AGK;K?r/ U J6
K'K6V@= 9p9BJ= BE =R7 U J6
223
7KzEJE J'O
8A8=JA 9J BJ= J=J F7JK4/ 9J
AGK;K?r/ U J6 K'K6V@= 9p9BJ= BE
=R7 U J6 7KzEJE J'O
O pJAV9AV*JKAAO
112
E>J !K6= U U9J,q F7J4V6= JV'
224
$@&Y $+=41
K6<MKy 39J pJAV9A*A JV& =R7

J K=V = F7J46 7KzEJE K6<MKyO
O 9pJ"VAJKAAO
9pJ"JAL K;> U9J,q 39J 9pJ"JKA B V/

6p U J6 K'K6@ 7v\/ K=9J= J'O
O 9J KAV6JKAAO
IJ%J /N>J B V/ AM/J W/=L BE =R7

U J6 J=!J6J= /N>J #= U9J G =^;
39J JK,qG =^V; U J6 J'O
O U>!V = U7K? AGV J%6O
4L#q J>9pJ7L BJV/ K>!J= U J6 J'O
O 7J JV6J EJ>J= U7K? AGV J%6O
/N>J 9J
J'O
05J=J
(<0<
O !K6V/ ;q=/ ?rK; "V.= =){< .<4 v2 JV>JK / !K6V/ J'O

W'9 9J X'9 =JAJEK6 9p9BJ=
39J 6JCJ %JCJ =J BE ;6 J'O
BJ/ J=J 9v\ 6JCJ %JCJ K=V/
BE ;6 U J6 J'O
O 8NA8NVA= 8J V9rJKAAO
7J* /N>J= JI? 9p9BJ= BE =R7

7KzEJE U J6 J'O
225
0 =,(<) 4<G*G` 2Z=.G 0 49f<

PO-?Y^ ,X=^ G#0 $<=1 VEV/ 39J U J6 U =J6L KBAJV9 K6<MKy 9p/L/ U J6 K>8* 39J
9JuLE ?Ky 39J <JKe ?Ky 39J K94MpF ?Ky %JK>/ U J6 "JCL %J>6J 9J
={.JV9{V.= JV' K6VEJK'/ JV&6
;6 U J6 9JCL #= 9J JK6JE K6<My JV&6 U<!JV6 7IJ% 9J /V/JK5
9pKy U J6 F7J46 7KzEJE 39J F7J46 7KzEJ= AKB/ AGK? 39J BJ=
J6M@GK" F7JK4/ K'K6@ AGzJeb U J6 JV' K6VEJK'/ JV&6 9G <JBJV/
9JuLE 7J6LE 9J 6p U J6 <JKe 9J W94MpK/ ?Ky= 9p9BJ= BE K e\ F7J46
7KzEJ %V> 6J =R7 U J6 v]JV6 9J V{ U 9>;J U =J.L KBAJV9 K6<My U J6
9pKy BJ= eb:Mqy B V96 6J
6Mp6 7IJ% '6 9pKy K6<My JV&6 =R7 U J6 9JCL #= 9J JK6JE
9p9BJ= 9B6 39J K9zL= '6p U J6 4r9p 9J 4r9pJG? 7v\/ =. 7K=9/q6 =.
U;=J;/ =. >G =. AlP.q =. 39J 6p U J6:JV9 BJV 9p9BJ=
7V<J"L =V.= U J6 JV' K6VEJK'/ JV&6
6Mp6 4? '6 9pKy K6<My JV&6 =R7 U J6 9JCL #= 9J JK6JE U J6
K9VJ= 4r9p F7J46 9J 6JCJ%JCJ= JV' K6VEJK'/ JV&6
U J6 !K6V/ U =J6L"LK== J' 9p/L/ !K6 AGzJeb U/ !K6' 74J3q AGzJeb U J6 JV' 39J :P":qv] U J6 JV' K6VEJK'/
JV&6H
/V9 ?/q 3JV U<
48J= VV?p ;6 U J6 !66V !K6 9K>EJ ".p =J
B V9 6J <JBJV/ 7P9q9/Lq 9JV=J ;JVA U J6 K46 7J? 'V6= K5 9pKy ;q=/
K&V>6 6J 39J U J6 K9VJ= 9p9/ BE 6J 9G <JBJ= ":L=/J &E K;*JV==
K5 6VB
AlP.q 9J JGK? :JV9 9JuLE 39J 6p U J6 <JKe 9J W94MpK/ ?Ky
J=J %JK>/ U J6 'JBJ' 9J U6Y<JV6 9J BJ J=J *JK6EJ U6 EJ BE =R7 U J6
'JBJ' 9J U6Y<JV6 ;JJ= 6JK9 9J 6p U J6:JV9 K6VEJK'/ JV&6
U J6 'JBJV'= ;JJ= 9J 6JK9 9p/L/ 'JBJV' ;J>J;J> U9J(J
V>= AM/J 7J JV6J= U J6
O %;q 74JBO
4r9p1
113
226
!J>JA 'iJ>J6L U9J(J K6;qJ. U;=J;/ :JGK"EJ U8>J 7K=uZJ= 39J =G U4 EJ=
JV' K6<My JV&6 39J 9f4= J 6
AV6= 6G J 6 =
5L6 U J6 9f4V== AL;J6J= ;V5p 'JBJV' ;J>J;J> U9J(J 9J !J>JA =J= '6p
9p9/ 7K=9B6 7K=%J>6J= JV' K6VEJK'/ JV&6
%"J; 39J ;G>J 9f4V= <JKe ?KyJ=J %JK>/ "JCLV/ ;J> +JV6J
6J;JV6J= JV' K6VEJK'/ JV&6
K6;gK>K!/ 5=V6= K6;qJ. U;=J;/ 39J :JGK"EJ U8>J= JV' K6VEJK'/
JV&6 <3JH
U J6 :96 9J J+JV;J
! 6L% B V/ 7= 7<qeb K;*J= 9J /V/JK5 _%/J Al6g U J6 9IJ5
" U J6 AC UA/N 9J AMC 39J
# U J6 EJ8q U'K* A;M4r 7J%L= 39J U J6 ;MK=GAB 6p U J6 U6Y J'
39J 'JBJ'
U J6 U*K>"J8 9J U*K>V8J6 >J 6 9J !IMK* 39J :J=VB, W94MpK/
>J 6 9J pJ9> 9J BJ= '6p !IMK* v]J76 U;=J;/ ={.JV9{. 39J 6J;J EJ
U8>J= JV' K6VEJK'/ JV&6
U =J6L KBAJV9 K6<MKy 9p/L/ U J6 =M73 pJV6> 7J 7 >J 6 39J
7EH7.J>L K6;qJ. 9J KzEJ V;q 9J U;=J;/ 39J :JGK"EJ U8>J= JV' K6VEJK'/
JV&6
4; > 9JKB6L= U J6 JV' K6VEJK'/ JV&6
U=> VE= AV %NKy AlJ46 J=L U J6 9pKy /qS %NKy AlJ4V6= '6p
A=JAK= 9J U J6 7 K+ J4JV== ;J5pV; U=> VEV/ K6VEJK'/ JV&6
U=> VE U; > AJK:qVA U J6 7K=4?q U; > "J,q A*qJ= 9J :pJ6 K7E6
KBAJV9 K6<My JV&6 39J ,J
/J= K9:JV" AJ5J=./H 9JKBV= J' K=V/
BE =R7 U J6 U7?JE K6VEJK'/ JV&6
,J /J= 9J U*K>V8J6 K9:JV" 9JKBV== JV' U*r'J=L= U =J6L KBAJV9
K6VEJK'/ JV&6
U =J6L KBAJV9 K6<MKy 9p/L/ 7J TK/ U7V*rJK>EJ; 9J 7J TK/ "pJA
VJ>6 JV'= AKB/ AGK? U J6 JV' K6VEJK'/ JV&6
K9VJ=. AGzJeb U J6 JV' K6VEJK'/ JV&6
7IK%? 'V6= K5 9pKy K6<My JV&6 39J K9VJ= 9p9/ BE
39J 7= B V/ 6L% 7<qeb <JBJ= ":L=/J K;*JV== U9?L =R7 U J6 K6;qJ. 9J
!66 JV' K6VEJK'/ JV&6
227
4? 'V6= K/K=y U>J 9B6 {;/J Al6g U J6 U8=L U9J* %J>6J=

JV' K6VEJK'/ JV&6
U =J6L KBAJV9 K6<MKy 9p/L/ K8 =J9J= 9J %J F7J4V6= '6p
9p9/ 9G 6Mp6 7IK%? 9pKy ;q=/ =R7 U J6 9J"JV6 K6VEJK'/ JV&6
U =J6L KBAJV9 K6<MKy 9p/L/ K94MpF F7J46 BJ= A=9=JB 9J BsJA
9SK 39J "pJA F7J46 9J A=9=JVB= JV' K6VEJK'/ JV&6
9JK/#= J 6
AV6=
6G J 6 = 5J=J # U/
AGJKE/ U J6 9JK/#V== JV' K6VEJK'/ JV&6
'6A;V{ 74?qV6= VV?p %>K_% K6;qJ. 9J BJ= 74?qV6= JV'
K6VEJK'/ JV&6
BJ/L 9J 6p 96p 'e\V 7K?{.4JV6= JV' 9J BJ= 7J>6 9J U J6
KzEJ V;q K6VEJK'/ JV&6
/J>"J& B V/ =A AG"B =J "J& J*J 9J BJ ! ! =J 9J
J:peb=L. '>7V3 BJ
v]J6 B V/ 6pv]JV6 > EJ <J EJ 39J 4J9J6>
K6Ee. 9J K69qJ7V6= JV' K6VEJK'/ JV&6
BJ/L 9J 6pJ6p 96p 'e\ 5=J 9J K? JV== '6p JV' K6VEJK'/ JV&6
,rJ :J= KBAJV9 K6VEJK'/ JV&6
7.p }4J;'J/ =J BE 9G 6Mp6 4? 9pKy K6<My JV&6 =R7 U J6
}4J; #= 9J 6p U J6 'JE"JE 9J BJ= AL;J6JE 39J 6Mp6 ?/ 9pKy K6<My
JV&6 =R7 U J6 9J'J= 9J BJ= AL;J6JE 7.p 6JCJ %JCJ 9J 7K=9BV6= JV'
K6VEJK'/ JV&6
U=K,EJ; 9J | V= <e7JK/ %J>6J 9J 6JCJ %JCJ K=V/ BE 39J
U/'u[LE 7J4JV6= AGvV?q JKAV/ BE =R7 U J6 JV' K6VEJK'/ JV&6
U J6 AC 7K=9B6 AJK:qVA ,rJ :J= tL6J= Jx= 9G U% J=
KBAJV9 K6VEJK'/ JV&6 39J
7JBJ=J *B>4J=L= JV' K6VEJK'/ JV&6O
114
228
*g. $+=41
0 5J=J
4r9p 1
,<91<G'2
=$*7 F`Gm *rG'7 `=$*B0G#0 *=0.<#

'!; 7J
?rK;V = ;JKA
;'M=Lvb=
{K/7P=V.= 7K=;J.
;S/Mp'K6/
J=V.
?rK;V = ;JKA *JH

;P> ;'M=L <JBJ
B 6J U 6
v]JEL AlP.q
{;/J= J=V.
*JH
v]JEL
{;/J=
J=V.
;JKA
3q KBAJV9 74
{K/7P=V.= 7K=;J.
=$=0^ 49 X<
$EY*` $EY *r <=2$
,?(,<0
G]<,0
{;/J= U;EJ4 JV>= '6p

39J
9FA= 7<qeb <JBJ
; B V9 {K/7P=. 74J6 =J
B V9O
"67'J/eL 9JG>JV4? A= J=
9JG>JV5; A= J=L ;M4r.J>E
V/'"IJ -J JO
y=R7 {K/7P=. 73; 4M

;JVA= '6p AlP.q ;JKA
;'M=L 7=9/qL 4M ;JVA= '6p
;JKA ;'M=L= 4M /T/LEJG?
9G /F7=9/qL ;JA}K>= '6p
;JKA ;'M=L= V5q BJV=
74J6 =J B V9O
AGV?J56L
/JK=!
"BJE.
K,VAl2=
6G 7K=
"/
VxJ9=
/JK=V!=
9JG>JV4? U"V'V*= K/K=y AG!pJ=
BV/
6G 7SJE 7 JK?/
9JG>JV4? ?r; J 6
AJV6=
6G J 6 = 5J=J
=
7 5J=J
$ = 7V= :M>9?/H ?/qJG? &J7J B EJV&O
{V. y J V6= 5J=J
= 7 5J=J
$ = E 7GKyV/
9Kv]/ H K%K*= 7K=9V/q O K%K* 7KCV/ B V9 9G y 7 5J=J
$ = ?/qJG?K* K9>M B V9O
U ; =K8 N> A>J;
7 AK%9
7 K6Ee O
4L#q J> v]JEL U7?J"/ 9pJK5=

U{V {;/J= '6p {K/7P=.
;JKA ;'M=L= V5q BJV=
{;/J= U;EJ4 JV> 74J6
=J B V9 /V9
U;EJ4
U J6 U{V 4M 9FAV==
K5 B V9 6JO
229
G G
. <$< 0 05.<)
AK%9O
115
; =K8 N> A>J; 7 AK%9 7 K6Ee 9JG>JV4? A= J=L ;M4r.J>< -J J /Tq ;MK4r/O
V;J JK;6 'MV9=L J>; 7 K6Ee 9JG>JV4? 8=; 7 J?6J K8A
V/'"IJ -J J /Tq 7r JK?/O
;P>p *J J
230

Bangladesh Labour Law 2006

Uploaded by

Copyright:

Available Formats

Bangladesh Labour Law 2006

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Bangladesh Labour Law 2006

Uploaded by

Copyright:

Available Formats

9JG>JV4? ?

*r&. (X<7 : *r<0=UT

< @0>0 2$Y<,1>

$E$>7 (X<7 : = G2<0 2Z=. =)G7<

K/7E U{V ;KB>J ?rK;V = V;q K6VEJ" K6K@O

*g. (X<7 : \%<\LX0`< ,X,\L<

4x. (X<7 : \%<\LX \%<\LX =,=(

:96 <e7JK/= K6=J7JO

=)0<*k< 4UG Y =,G23 =,(<)

7J3K; K%K FAJ A=J;O

),. (X<7 : .Y Q <

<'2 (X<7: . ?0> F,<!Y

;'M=L= K9V?@ AGJO

'q 9J K"; J4JVE= '6p ;'M=L /q6O

K6;g/; ;'M=L U9J,q 7K/JO

t<'2 (X<7 : '? Y )< =)$ <0G#

G.0 )X 2Z=.G 0 `=$*B0#

{K/7P=. 74JV6= '6p ;JK>V = 4JKE/iO

?rK;V = K9V?@ AGJO

7K/J67MV U*r, K6E6 U=K'Kr =.O

*g'2 (X<7 : F <U<)>0 .?)<+<7 2Z=.G 0 92 r5#

F3<62 (X<7 : ! 2Z=.

G#0 =)G7< =)7Pe# ,9 =)0<*k<

vZL; 7.EV6= {;/JO

/pJK4 Al2V K9V?@ K95J6O

4x'2 (X<7 : -=,3X $5=,1

U9A= J=L !JV/ 7K/JV6= ?rK; "V.= '6p :K9@p /BK9>O

=,92 (X<7 : *r2<4) *=0'2Y)

AJ5J=. U{V U J*q K8AO

A 49=`x =2G0<)<. *Z,$Y) ,9 *rG7< Aoo

,<91<G'2 <$>7 494'

AGA4 /Tq "SBL/ K6;gK>K!/ J 6K* U? JK?n6

/4J=J K6;g=^7 J 6 =J B >H

U J6 9v\ 9J 74JV3q= 9p9BJ= K9zE 7K=9B6 K9/=. 74?q6 9J

6MAJV6= '6p J<q 7K=%J>6J =J BE 9G !K6V/ 9J BJ=

U Y?> <JBJ J=J U J6 7J ; ;M:JV== "K/ U J6 <e7JK/ 9J 7JVf*

U J6 U*r, K6E6 AlVq K69qJBL K;K* 3q ;6 U J6

9JCL #= 9J JK6J U<!JV6 U J6 K? 7K=%J>6J= '6p ?rK; K6VEJ"

& U J6 tJ9 UBJV*> U=IVvbJ=J 9J !J9JV== #=

eb:Mqy B V96 <3JH

J V6= 5L6 7.L/ U J6 vZL;O

< @0>0 2$Y<,1>

O < @0>0 2$Y<,1>Aoo

K6VEJ" 7K?{.J3qL KBAJV9 BE 9G 7K?{. JV> /JBJV :J/J

?rK; V K6VEJ" K=V/ 7JK=V96 6J 9G K6VEJK'/ 7V/p ?rK; V &K9AB

*=0 7 *mOooU J6 ;JK> K6VEJ"7 74J6 6J K=EJ U J6

O 4<=-Y4 , G7 PO-?Y=^Aoo;JK> U J6 ?rK;V = %J N=L= =^V/ 9G /JBJ=

O 2Z=. F0= ~<0 ,9 = G

O ,X=7$ ?= 0 . ?0> *r'<)Aoo<K4 U J6 ?rK;V = %J N=L &IJ*J K,A%J'q

O *r=$|<) ,v 0< <Aoo

eb/H 4M ?/ %K>? K46 9J

O F1 + E$ 2Z=. G#0 .<~<0 F0<1Aoo U J6 7K/JV6 ?rK; ".V U>

! K/K6 ;JK>V = K6V4q? AVi

/JBJ= &IJ*J VE= J=. V>! K=EJ

O .D$?X =)$ 4?=,(<Aoo<K4 U J6 ?rK; U J6 ;JK>V = 5L6 K9K_&6g:JV9

O ;< < Aoo U J6 ?rK; V 7VEJ'6 K/K=y/J= J=V. U J6 7K/J6

O < @0> 5 G$ =!4 < YAoo

KBAJV9 K? K4V6= ;'M=L 39J "J%N K* <K4 7V4E BE <JBJ K5

#M@ "B. 9J 74J6

O 4'< 0# ,9 'j *r<=x0 F`Gm 2<=\OAoo

r&. (X<7 : r<0=UT

=,92 (X<7 : r2<4) =0'2Y)

A 49=`x =2G0<)<. Z,$Y) ,9 rG7< Aoo

U J6 Ur, K6E6 AlVq K69qJBL K;K 3q ;6 U J6

=0 7 mOooU J6 ;JK> K6VEJ"7 74J6 6J K=EJ U J6

O ,X=7$ ?= 0 . ?0> r'<)Aoo<K4 U J6 ?rK;V = %J N=L &IJJ K,A%J'q

O !<^<0> 0>`<0 )X <G'2 r'<G)0 `.$<Aoo U< U{V U J6

O =2z 49_<PO =$7 @=^0 ,X<<G0 ,<(< =)G3(Aoo

O =,d) /Pe<=$0 <G = G2<0 =)G7< Aoo

O r4B=$ 1X<# 4?=,(< =0G2<( 49_<PO *s=$Aoo

O r4B=$ 1X<# 4?=,(<0 =0.<#Aoo

O , YX '<&Y 4<0#Aoo 7V/p 7K/J6V

O <) 0<0 <=)Aoo 7V/p 7K/JV6 BJV/ ;q=/ A > ?rK;V =

O <7 <)< F2<, <)<Aoo 7V/p 7K/JV6

O 1.<) /Pe<=$0 G0 ,< =) G < Aoo U< U{V U J6 7K/JV6

O `=$B0# r'<G)0 )X .<=1G 0 '<=7$SAoo

;6 U J6 U=JV"= Jz;. UA U{V 4M#q6JK y U=J" J=J