Download Manuel d\entretien et de maintenance
Transcript
Version française p. 2 English version p. 24 0DQXHOG G¶H HQWWUH HWLHQHWGHPDLQWHQDQ QFH )UH HLQK K\GUDX XOLTXH,7$. .$ +RPRORJDWLRQ)5 )5 )5+ eGLWLRQRFWREUH 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 7$%/('(60$7,Ê5(6 &216,*1(6'(6e&85,7e *e1e5$/,7e6 *ORVVDLUH /LTXLGHVHWOXEUL¿DQWV 2XWLOODJH 3pULRGLFLWpG¶HQWUHWLHQHWGHPDLQWHQDQFH 0DvWUHF\OLQGUH3& 0DvWUHF\OLQGUH3& (WULHUDUULqUH3& (WULHUDYDQWPDQXHO3& (WULHUDYDQW%93& 5(03/$&(0(17'(63,Ê&(6 5HPSODFHPHQWGHVSODTXHWWHVGHIUHLQVXUOHVpWULHUV3&HW3& 5HPSODFHPHQWGHVSODTXHWWHVGHIUHLQVXUOHVpWULHUV3& 5HPSODFHPHQWMRLQWVSLVWRQVpWULHUDUULqUH 5HPSODFHPHQWMRLQWVSLVWRQVpWULHUDYDQW 5HPSODFHPHQWMRLQWVSLVWRQVPDvWUHF\OLQGUH 5HPSODFHPHQWSLVWRQVPDvWUHF\OLQGUHDYDQW 5HPSODFHPHQWGXULWGHIUHLQ 385*((71(772<$*( 3XUJHGXFLUFXLWGHIUHLQDYDQW 3XUJHGXFLUFXLWGHIUHLQDUULqUH 3XUJHGXFLUFXLWGHIUHLQDYDQWFRPPDQGHDXYRODQW 1HWWR\DJH &HUWDLQHV RSpUDWLRQV GH PDLQWHQDQFH GpFULWHV DX FKDSLWUH GRLYHQW rWUHHIIHFWXpHVSDUXQGLVWULEXWHXUDJUppSDU62',.$57 )UHLQBLWDNDB)5B &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 98(6e&/$7e(6 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 5pFDSLWXODWLIGHVSRLQWVGHVpFXULWp LPSRUWDQWV &HPDQXHOHVWWHQXjMRXUSDU62',.$57SRXUYRXV SHUPHWWUHVDQVGpODLGHFRQQDvWUHOHVGHUQLqUHV DPpOLRUDWLRQVHQPDWLqUHGHVpFXULWpHWG¶HQWUHWLHQ &RQVXOWH]UpJXOLqUHPHQWQRWUHVLWHLQWHUQHWSRXU WpOpFKDUJHUODGHUQLqUHYHUVLRQGXPDQXHO /HVLOOXVWUDWLRQVQHVRQWSDVFRQWUDFWXHOOHV 6RGLNDUW 9RXVSRXYH]WpOpFKDUJHUOHV¿FKHVG¶KRPRORJDWLRQV GHVIUHLQVVXUQRWUHVLWHLQWHUQHWZZZVRGLNDUWFRP Ɣ 0DLQWHQLUOHV\VWqPHGHIUHLQGDQVVDFRQ¿JXUDWLRQ G¶RULJLQH Ɣ 8WLOLVHUXQLTXHPHQWGHVSLqFHVGpWDFKpHVG¶RULJLQH 6RGLNDUW Ɣ 8WLOLVHUGHVpTXLSHPHQWVHQGRPPDJpVSHXW HQWUDvQHUXQULVTXHGHEOHVVXUHFRUSRUHOOHJUDYH YRLUHPRUWHOOH Ɣ 8WLOLVHUGXOLTXLGHGHIUHLQ'27XQLTXHPHQW Ɣ &RQWU{OHUO¶XVXUHGHVSODTXHWWHVDYDQWFKDTXH GpSDUW Ɣ 1HMDPDLVURXOHUDYHFGHVSODTXHWWHVWURSXVpHV pSDLVVHXUPLQLPXPSRXUOHVpWULHUV3&HW 3&PP Ɣ /HIUHLQG¶XQNDUWHVWO¶XQGHVpOpPHQWVPDMHXUV GHVpFXULWp6LMDPDLVOHV\VWqPHGHIUHLQDJHHVW GpIHFWXHX[RXTXHYRXVDYH]OHPRLQGUHGRXWHQH SDVPHWWUHOHNDUWHQVHUYLFH Ɣ 1HMDPDLVURXOHUDYHFGHVSODTXHWWHVWURSXVpHV pSDLVVHXUPLQLPXPSRXUO pWULHU3& PP Ɣ 1HSDVXWLOLVHUGHSURGXLWQHWWR\DQWTXLULVTXHUDLW G¶HQGRPPDJHUOHVMRLQWV8QHIXLWHGHOLTXLGHGH IUHLQSRXUUDLWDSSDUDvWUHFHTXLSHXWSURYRTXHUXQ DFFLGHQWJUDYHYRLUHPRUWHO Ɣ /HIUHLQG¶XQNDUWHVWO¶XQGHVpOpPHQWVPDMHXUV GHVpFXULWp1HSDVPHWWUHOHNDUWHQVHUYLFHVLOH V\VWqPHGHIUHLQDJHHVWGpIHFWXHX[RXGRXWHX[ Ɣ 8QV\VWqPHGHIUHLQDJHQRQFRQIRUPHSHXW HQWUDvQHUXQDFFLGHQWJUDYHYRLUHPRUWHO Ɣ 8QHIXLWHGDQVOHFLUFXLWGHIUHLQDJHSHXWFDXVHUXQ DFFLGHQWJUDYHYRLUHPRUWHO Ɣ 8QHEXOOHG¶DLUGDQVOHFLUFXLWGHIUHLQDJHSHXW HQJHQGUHUXQHSHUWHSDUWLHOOHRXWRWDOHGHVIUHLQVHW FDXVHUXQDFFLGHQWJUDYHYRLUHPRUWHO Ɣ 'HVIXLWHVGDQVOHFLUFXLWGHIUHLQDJHSHXYHQWFDXVHU XQDFFLGHQWJUDYHYRLUHPRUWHO Ɣ 'HO¶KXPLGLWpGDQVOHOLTXLGHGHIUHLQSHXWFDXVHUXQ SKpQRPqQHGHYDSRUORFNXQHSHUWHVRXGDLQHGH SXLVVDQFHGHIUHLQDJHHWFDXVHUXQDFFLGHQWJUDYH YRLUHPRUWHO Ɣ 7HVWHUOHIUHLQDSUqVFKDTXHSXUJH Ɣ 6LGXSURGXLWQHWWR\DQWGHW\SH:'RXDXWUHHVW SURMHWpVXUOHGLVTXHGHIUHLQRXO¶pWULHUOHIUHLQDJH VHUDPRLQVHI¿FDFHYRLUHWRWDOHPHQWQXOSHQGDQW TXHOTXHVWRXUVFHTXLSHXWGRQFSURYRTXHUXQ DFFLGHQWJUDYHYRLUHPRUWHO Ɣ 1HSDVPHWWUHGXSURGXLWQHWWR\DQWGHW\SH:' RXDXWUHVXUODSRPSHGHIUHLQ &216,*1(6'(6e&85,7e &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW ż 6LJQDOHXQULVTXHGHGpJkWVPDWpULHOVVLOHV LQVWUXFWLRQVQHVRQWSDVVXLYLHV 6LJQDOHXQHIRUWHSRVVLELOLWpGHEOHVVXUHV FRUSRUHOOHVJUDYHVYRLUHPRUWHOOHVVLOHV LQVWUXFWLRQVQHVRQWSDVVXLYLHV Ź0DLQWHQLUOHV\VWqPHGHIUHLQGDQVVD FRQ¿JXUDWLRQG¶RULJLQH Ź8WLOLVHUXQLTXHPHQWGHVSLqFHV GpWDFKpHVG¶RULJLQH6RGLNDUW Ź8WLOLVHUGHVpTXLSHPHQWVHQGRPPDJpV SHXWHQWUDvQHUXQULVTXHGHEOHVVXUH FRUSRUHOOHJUDYHYRLUHPRUWHOOH (QFDVGHSUREOqPHRXSRXUWRXWH TXHVWLRQFRQFHUQDQWYRWUHIUHLQYHXLOOH] YRXVDGUHVVHUjODVRFLpWp6RGLNDUW 3DUFG¶DFWLYLWpVGHV+DXWVGH&RXsURQ %3&28É521)UDQFH 7HO )D[ ZZZVRGLNDUWFRPVRGLNDUW#VRGLNDUWFRP )UHLQBLWDNDB)5B 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH *e1e5$/,7e6 2XWLOODJH *ORVVDLUH /HJORVVDLUHVXLYDQWSHUPHWGHVHIDPLOLDULVHUDYHF FHUWDLQVWHUPHVUHODWLIVDX[IUHLQV %UXQLVVDJH3pULRGHGHURGDJHQpFHVVDLUHSRXUTX¶XQ V\VWqPHGHIUHLQjGLVTXHDWWHLJQHVRQHI¿FDFLWp PD[LPDOH 3XUJHeYDFXDWLRQGHO¶DLUG¶XQFLUFXLWK\GUDXOLTXH 5pVHUYRLU3DUWLHGXV\VWqPHGHIUHLQTXLFRQWLHQWOD UpVHUYHGHOLTXLGHGHIUHLQ 0DvWUHF\OLQGUH&RPSRVDQWGXV\VWqPHGHIUHLQTXL PHWVRXVSUHVVLRQOHFLUFXLWK\GUDXOLTXH eWULHU3LqFHGXV\VWqPHGHIUHLQjODTXHOOHVRQW¿[pHV OHVSODTXHWWHVGHIUHLQHWTXLFRPPHXQHPkFKRLUH VHUUHOHGLVTXHSRXUUDOHQWLUODURXH /LTXLGHVHWOXEUL¿DQWV 1¶XWLOLVHUTXHGXOLTXLGHSRXUIUHLQ'27 1HSDVXWLOLVHUGHOXEUL¿DQWGpULYpGXSpWUROHTXLIDLW JRQÀHUOHVSLqFHVGHFDRXWFKRXF 62',.$57UHFRPPDQGHG¶XWLOLVHUGXOLTXLGHSRXUIUHLQ '27&RQVXOWHUOHVLWH,7$.$SRXUOHVUpIpUHQFHVGHV SURGXLWVHWGHQHQHWWR\HUOHGLVTXHHWOHVSODTXHWWHV TX¶DYHFGXQHWWR\DQWIUHLQ&RQVXOWHUOHVLWH,7$.$SRXU OHVUpIpUHQFHVGHVSURGXLWV 3RXUOHPRQWDJHGHVMRLQWVXWLOLVHUGHVODJUDLVVH 3)*&RQVXOWHUOHVLWH,7$.$SRXUOHVUpIpUHQFHV GHVSURGXLWV ż 0HWWUHOHVÀXLGHVGDQVGHVELGRQV pWDQFKHVHWOHVUHF\FOHUFRQIRUPpPHQWjOD UpJOHPHQWDWLRQHQYLJXHXU Ź8WLOLVHUGXOLTXLGHGHIUHLQ'27 XQLTXHPHQW Ɣ .LWRXWLOODJHPDvWUHF\OLQGUH5pI28 Ɣ 3XUJHXUGHIUHLQ5pI28 )UHLQBLWDNDB)5B &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW Ɣ &HQWUHXUGHEXWpHGHSLVWRQ5pI28 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 3pULRGLFLWpG¶HQWUHWLHQHWGHPDLQWHQDQFH $YDQW WRXWH VHVVLRQ &RQWU{OHGXQLYHDXGHOLTXLGHGHIUHLQ $SUqV $SUqV $SUqV PHHWLQJ PHHWLQJ PHHWLQJ RXNP RXNP RXNP ; 5HPSODFHPHQWGXOLTXLGHGHIUHLQ &RQWU{OHGHO¶XVXUHGHVSODTXHWWHVGHIUHLQ ; ; 5HPSODFHPHQWGHVSODTXHWWHVGHIUHLQ &RQWU{OHGHO¶DEVHQFHGHIXLWHVXUODGXULW ; ; &RQWU{OHGHO¶pWDWGHODGXULWGHIUHLQ ; &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW &RQWU{OHGXVHUUDJHGXV\VWqPHGHIUHLQVXUOH NDUW &RQWU{OHGHO¶pWDWGXGLVTXHGHIUHLQ ; ; &RQWU{OHGHO¶XVXUHGXGLVTXHGHIUHLQ ; 5HPSODFHPHQWGXGLVTXHGHIUHLQ 'qVTXH UHTXLV ; )UHLQBLWDNDB)5B 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 98(6e&/$7e(6 0DvWUHF\OLQGUH3& /2&7,7()$,%/(5(3 *5$,66(3)*5(3 ,WHP 5pI 'HVFULSWLRQ %( *283,//((/$67,48(; %( *283,//((/$67,48(; 3& 5(6(592,5&203/(70$,75(&</ 3& 3,67210$,75(&</,1'5(+<'5 3& &+$3(0212%/2&63+(5,48( 3& 5(66257&21,48( 3& 9,6),;5(6(592,533(&203(7 3& &$&+(32866,(5(0$,75(&</ 3& &+(9,//('(35(66,213/$67,48( 3& -2,17$/(95(0$,75(&</,1'5( 3& -2,17725,48(0$,75(&</,1'5( 3& -2,17;; 3& /(9,(5'(0$,75(&</,1'5( )UHLQBLWDNDB)5B 4Wp &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 0DvWUHF\OLQGUH3& *5$,66(3)*5(3 /2&7,7()$,%/(5(3 &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW ,WHP 5pI 'HVFULSWLRQ 3& 3,6721&203/(7'3203()5(,1 3& 5$&&25''85,7(3203('()5(,1 3& 328662,53203(+<'5$8/,48( 3& 32,*1((3203(+<'5$8/,48( %% 9,6%+&0; %&(3 9,6&+&(3$8/((0'/I %1 (&52801</6723 %6 9,66$167(7(0; 4Wp )UHLQBLWDNDB)5B 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH (WULHUDUULqUH3& ,16758&7,216 /2&7,7()$,%/(5(3 6(55$*(1P5(3 *5$,66(3)*5(3 ,WHP 5pI 'HVFULSWLRQ 3& 3,6721(75,(5' % -2,17725,48(; %&3 9,6&+&0;)3 3& %,//(' 3& 9,6'(385*((75,(50 3& %28&+219,6'(385*( % -2,17725,48(';'(3'0 3& %87(('(3,67216(75,(5' 3& -(83/$48(77(6(75,(5'5$ %6 9,66$167(7(0; 3& %$*8(%87(('(3,67216 % -2,17725,48(';(3'0 )UHLQBLWDNDB)5B 4Wp &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH (WULHUDYDQWPDQXHO3& ,16758&7,216 /2&7,7()$,%/(5(3 *5$,66(3)*5(3 6(55$*(1P5(3 &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW ,WHP 5pI 'HVFULSWLRQ 3& -(83/$48(77(6(75,(5'5$ 3& 9,6'(385*((75,(50 3& %28&+219,6'(385*( %& 9,6&+&0;)3 % -2,17725,4'[7,02 % -2,17725,48(';7,02 3& 3,6721(75,(5' 4Wp )UHLQBLWDNDB)5B 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH (WULHUDYDQW%93& ,16758&7,216 /2&7,7()$,%/(5(3 *5$,66(3)*5(3 6(55$*(1P5(3 ,WHP 5pI 'HVFULSWLRQ 3& -(83/$48(77(6(75,(5'5$ % -2,17725,48(';7,02 %&3 9,6&+&0;)3 3& 9,6'(385*((75,(50 3& %28&+219,6'(385*( % -2,17725,4'[7,02 3& 3,6721(75,(5' )UHLQBLWDNDB)5B 4Wp &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 5(03/$&(0(17'(63,Ê&(6 5HPSODFHPHQWGHVSODTXHWWHVGHIUHLQ VXUOHVpWULHUV3& 5HPSODFHPHQWGHVSODTXHWWHVGH IUHLQVXUOHVpWULHUV3&HW 3& &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW /pJHQGH 9LVGHUpJODJH 9LVGHUDSSHO 5HVVRUW *RXSLOOH 3ODTXHWWHGHIUHLQ Ɣ 5DPHQHUOHVSODTXHWWHVGHIUHLQHQEXWpHVjO¶DLGH GHVYLVGHUpJODJH Ɣ 'pSRVHUOHVYLVGHUDSSHOHWOHVUHVVRUWV Ɣ 5HGUHVVHUOHVH[WUpPLWpVGHODJRXSLOOHSXLVOD UHWLUHU Ɣ 5HWLUHUOHVSODTXHWWHVGHIUHLQXVDJpHV Ɣ 0HWWUHOHVSODTXHWWHVQHXYHVHQSODFH Ɣ 0HWWUHHQSODFHODJRXSLOOHQHXYHSXLVWRUGUHVHV H[WUpPLWpV Ɣ 5HPRQWHUOHVYLVGHUDSSHOHWOHVUHVVRUWV QHXIHQDSSOLTXDQWXQHJRXWWHGHIUHLQ¿OHWIDLEOHVXU OH¿OHWDJHGHVYLV Ɣ 6HUUHUOHVYLVSRXUDPHQHUOHVSODTXHWWHVHQ SODFH/HMHXHQWUHODSODTXHWWHHWOHGLVTXHGRLWrWUH GHPP /pJHQGH *RXSLOOH 3ODTXHWWHGHIUHLQ 3LVWRQ &RUSVG pWULHU Ɣ 5HGUHVVHUOHVH[WUpPLWpVGHODJRXSLOOHSXLVOD UHWLUHU Ɣ 5HWLUHUOHVSODTXHWWHVGHIUHLQXVDJpHV Ɣ 5HSRXVVHUOHVSLVWRQVGDQVOHFRUSVG¶pWULHU Ɣ 0HWWUHOHVSODTXHWWHVQHXYHVHQSODFH Ɣ 0HWWUHHQSODFHODJRXSLOOHQHXYHSXLVWRUGUHVHV H[WUpPLWpV ż 1HSDVDFWLRQQHUOHOHYLHURXODSpGDOHGH IUHLQWDQWTXHOHVSODTXHWWHVQHVRQWSDVHQ SODFH/HVSLVWRQVVHUDLHQWDORUVGLI¿FLOHVj UDPHQHUHQSRVLWLRQHWGHVIXLWHVGHOLTXLGH GHIUHLQULVTXHUDLHQWG¶HQUpVXOWHU ż 1HSDVDFWLRQQHUODSpGDOHGHIUHLQWDQW TXHOHVSODTXHWWHVQHVRQWSDVHQSODFH /HVSLVWRQVVHUDLHQWDORUVGLI¿FLOHVj UDPHQHUHQSRVLWLRQHWGHVIXLWHVGHOLTXLGH GHIUHLQULVTXHUDLHQWG¶HQUpVXOWHU Ź&RQWU{OHUO¶XVXUHGHVSODTXHWWHVDYDQW FKDTXHGpSDUW Ź1HMDPDLVURXOHUDYHFGHVSODTXHWWHV WURSXVpHVpSDLVVHXUPLQLPXPSRXU OHVpWULHUV3&HW3& PP Ź/HIUHLQG¶XQNDUWHVWO¶XQGHVpOpPHQWV PDMHXUVGHVpFXULWp6LMDPDLVOH V\VWqPHGHIUHLQDJHHVWGpIHFWXHX[RX TXHYRXVDYH]OHPRLQGUHGRXWHQHSDV PHWWUHOHNDUWHQVHUYLFH Ź&RQWU{OHUO¶XVXUHGHVSODTXHWWHVDYDQW FKDTXHGpSDUW Ź1HMDPDLVURXOHUDYHFGHVSODTXHWWHV WURSXVpHVpSDLVVHXUPLQLPXPSRXU O pWULHU3&PP Ź/HIUHLQG¶XQNDUWHVWO¶XQGHVpOpPHQWV PDMHXUVGHVpFXULWp6LMDPDLVOH V\VWqPHGHIUHLQDJHHVWGpIHFWXHX[RX TXHYRXVDYH]OHPRLQGUHGRXWHQHSDV PHWWUHOHNDUWHQVHUYLFH )UHLQBLWDNDB)5B 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 5HPSODFHPHQWMRLQWVSLVWRQVpWULHU DUULqUH Ɣ 5HWLUHUOHVMRLQWVWRULTXHOHVSLVWRQVHW OHVMRLQWVGHFKDTXHGHPLpWULHU &HWWHRSpUDWLRQGRLWrWUHHIIHFWXpHSDUXQ GLVWULEXWHXU6RGLNDUW 'pPRQWDJH Ɣ 5HWLUHUOHFOLSVGHEXWpHGHSLVWRQjO¶DLGHG¶XQH SLQFHjEHF¿QRXG¶XQHSRLQWHjWUDFHU Ɣ 'pYLVVHUODEXWpHGHSLVWRQHWUHWLUHUOHMRLQW WRULTXH Ɣ 3URFpGHUGHODPrPHIDoRQSRXUOHGHX[LqPHGHPL pWULHU Ɣ 1HWWR\HUOHVGHPLVFRUSVG¶pWULHU1HSDVXWLOLVHUGH :'RXG¶DXWUHVSURGXLWVJUDVSRXUQHWWR\HUOHV pWULHUV /pJHQGH 9LVGHUpJODJH 9LVGHUDSSHO 5HVVRUW *RXSLOOH 3ODTXHWWHGHIUHLQ 9LVGHSXUJH %LOOH 9LVGH¿[DWLRQ Ź1HSDVXWLOLVHUGHSURGXLWQHWWR\DQWTXL ULVTXHUDLWG¶HQGRPPDJHUOHVMRLQWV 8QHIXLWHGHOLTXLGHGHIUHLQSRXUUDLW DSSDUDvWUHFHTXLSHXWSURYRTXHUXQ DFFLGHQWJUDYHYRLUHPRUWHO 5HPRQWDJH Ɣ 5DPHQHUOHVSODTXHWWHVGHIUHLQHQEXWpHVjO¶DLGH GHVYLVGHUpJODJH'pSRVHUOHVYLVGHUDSSHO HWOHVUHVVRUWV Ɣ 'pWRUGUHOHVH[WUpPLWpVGHODJRXSLOOHSXLVOD UHWLUHU Ɣ 5HWLUHUOHVSODTXHWWHVGHIUHLQ Ɣ 5HWLUHUODYLVGHSXUJHHWVRQFDSXFKRQ Ɣ 5HWLUHODELOOHHQSUHQDQWVRLQGHQHSDVOD SHUGUH Ɣ 'pVDFFRXSOHUO¶pWULHUHQUHWLUDQWOHVYLVGH¿[DWLRQ /pJHQGH &OLS Ɣ 0HWWUHXQFOLSVGHEXWpHGHSLVWRQQHXIHQ SODFH /pJHQGH -RLQWWRULTXH 3LVWRQ -RLQW )UHLQBLWDNDB)5B &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW /pJHQGH &OLS %XWpHGHSLVWRQ 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW /pJHQGH %XWpHGHSLVWRQ -RLQWWRULTXH Ɣ $SSOLTXHUGHODJUDLVVH3)*VXUXQMRLQW WRULTXHQHXI Ɣ 0RQWHUOHMRLQWWRULTXHGDQVODJRUJHGHODEXWpH GHSLVWRQ Ɣ $SSOLTXHUGHODJUDLVVH3)*VXUOHMRLQWWRULTXH HWODEXWpHGHSLVWRQ /pJHQGH -RLQWWRULTXH 3LVWRQ -RLQW *RUJH Ɣ $SSOLTXHUGHODJUDLVVH3)*VXUOHVMRLQWV WRULTXHV Ɣ 9pUL¿HUTXHOHVIRQGVGHJRUJHVVRLHQWSURSUH Ɣ 0HWWUHHQSODFHOHVMRLQWVWRULTXHVGDQVOHV JRUJHV Ɣ 0HWWUHHQSODFHOHVSLVWRQV Ɣ 3URFpGHUGHODPrPHIDoRQSRXUOHGHX[LqPHGHPL pWULHU Ɣ $SSOLTXHUGHODJUDLVVH3)*VXUOHVMRLQWV WRULTXH Ɣ 0HWWUHHQSODFHOHVMRLQWVWRULTXHSXLVDFFRXSOHU OHVGHPLVpWULHUV /pJHQGH %XWpHGHSLVWRQ 2XWLOODJH6RGLNDUW Ɣ (QIRQFHUODEXWHHGHSLVWRQGDQVO¶RXWLOODJH HQSUHQDQWVRLQGHQHSDVDEvPHUOHMRLQWWRULTXH Ɣ 3RVLWLRQQHUODEXWpHGHSLVWRQHWO¶RXWLOODJH VXUOHGHPLpWULHU Ɣ 6HUUHUODEXWHHGHSLVWRQjIRQGVXUOHGHPL pWULHUjO¶DLGHG¶XQWRXUQHYLVSXLVUHWLUHUO¶RXWLOODJH /pJHQGH 9LVGHSXUJH %LOOH 9LVGH¿[DWLRQ Ɣ 6HUUHUOHVYLV&RXSOHGHVHUUDJH1PHQ DSSOLTXDQWXQHJRXWWHGHIUHLQ¿OHWIDLEOHVXUFKDTXH YLV Ɣ 5HPHWWUHODELOOHGDQVVRQORJHPHQW Ɣ 9LVVHUOHYLVGHSXUJHDYHFVRQFDSXFKRQ &RXSOHGHVHUUDJH1P Ɣ 5HPHWWUHGHVSODTXHWWHVGHIUHLQYRLUFKDSLWUH (QWUHWLHQ5HPSODFHPHQWGHVSODTXHWWHVGHIUHLQ DUULqUH /pJHQGH &OLS %XWpHGHSLVWRQ Ɣ 3RVLWLRQQHUOHFOLSVGHEXWpHGHSLVWRQGDQVOD JRUJHGHODEXWpHGHSLVWRQ Ɣ 9pUL¿HUTXHOHFOLSVGHEXWpHGHSLVWRQVRLWELHQ FOLSVHUGDQVODJRUJHGHODEXWpHGHSLVWRQ Ɣ ,03257$173RXUV¶DVVXUHUTXHOHFOLSVVRLWHQ SODFHVXUODEXWpHGHSLVWRQGHVVHUUHUODEXWpHHOOH QHGRLWSDVVRUWLUGXFRUSVG¶pWULHU )UHLQBLWDNDB)5B 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH Ɣ 1HWWR\HUOHVGHPLVFRUSVG¶pWULHU1HSDVXWLOLVHUGH :'RXG¶DXWUHVSURGXLWVJUDVSRXUQHWWR\HUOHV pWULHUV ż 7RXMRXUVXWLOLVHUGHVMRLQWVHWFOLSVQHXIV ż 5HPSODFHUWRXWHSLqFHGpIHFWXHXVH Q¶XWLOLVHUTXHGHVSLqFHVG¶RULJLQHV 62',.$57 ż 0HWWUHXQMHXGHSODTXHWWHVQHXYHVDSUqV WRXWHLQWHUYHQWLRQVXUOHVpWULHUV Ź1HSDVXWLOLVHUGHSURGXLWQHWWR\DQWTXL ULVTXHUDLWG¶HQGRPPDJHUOHVMRLQWV 8QHIXLWHGHOLTXLGHGHIUHLQSRXUUDLW DSSDUDvWUHFHTXLSHXWSURYRTXHUXQ DFFLGHQWJUDYHYRLUHPRUWHO 5HPSODFHPHQWMRLQWVSLVWRQVpWULHU DYDQW 5HPRQWDJH &HWWHRSpUDWLRQGRLWrWUHHIIHFWXpHSDUXQ GLVWULEXWHXU6RGLNDUW 'pPRQWDJH /pJHQGH -RLQWWRULTXH 3LVWRQ -RLQW *RUJH /pJHQGH *RXSLOOH 3ODTXHWWHGHIUHLQ 9LVGHSXUJH 9LVGH¿[DWLRQ Ɣ $SSOLTXHUGHODJUDLVVH3)*VXUOHVMRLQWV WRULTXHV Ɣ 9pUL¿HUTXHOHVIRQGVGHJRUJHVVRLHQWSURSUH Ɣ 0HWWUHHQSODFHOHVMRLQWVWRULTXHVGDQVOHV JRUJHV Ɣ 0HWWUHHQSODFHOHVSLVWRQV Ɣ 3URFpGHUGHODPrPHIDoRQSRXUOHGHX[LqPHGHPL pWULHU Ɣ $SSOLTXHUGHODJUDLVVH3)*VXUOHVMRLQWV WRULTXH Ɣ 0HWWUHHQSODFHOHVMRLQWVWRULTXHSXLVDFFRXSOHU OHVGHPLVpWULHUV Ɣ 'pWRUGUHOHVH[WUpPLWpVGHODJRXSLOOHSXLVOD UHWLUHU Ɣ 5HWLUHUOHVSODTXHWWHVGHIUHLQ Ɣ 5HWLUHUODYLVGHSXUJHHWVRQFDSXFKRQ Ɣ 'pVDFFRXSOHUO¶pWULHUHQUHWLUDQWOHVYLVGH¿[DWLRQ /pJHQGH -RLQWWRULTXH 3LVWRQ -RLQW Ɣ 5HWLUHUOHVMRLQWVWRULTXHOHVSLVWRQVHWOHV MRLQWVGHFKDTXHGHPLpWULHU )UHLQBLWDNDB)5B &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH Ɣ 5HWLUHUOHVFKHYLOOHVGHSUHVVLRQHWOHFDFKH SRXVVLqUH Ɣ 5HWLUHUODJRXSLOOHHWVRUWLUO¶HQVHPEOHOHYLHU SLVWRQGXPDvWUHF\OLQGUH &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW /pJHQGH 9LVGHSXUJH 9LVGH¿[DWLRQ Ɣ 6HUUHUOHVYLV&RXSOHGHVHUUDJH1PHQ DSSOLTXDQWXQHJRXWWHGHIUHLQ¿OHWIDLEOHVXUFKDTXH YLV Ɣ 9LVVHUOHYLVGHSXUJHDYHFVRQFDSXFKRQ &RXSOHGHVHUUDJH1P Ɣ 5HPHWWUHGHVSODTXHWWHVGHIUHLQYRLUFKDSLWUH (QWUHWLHQ5HPSODFHPHQWGHVSODTXHWWHVGHIUHLQ DYDQW /pJHQGH &KDSH 3LVWRQ -RLQWWRULTXH -RLQW Ɣ 'pVDFFRXSOHUODFKDSHGXSLVWRQ Ɣ 5HWLUHUOHMRLQWWRULTXHHWOHMRLQW Ɣ 1HWWR\HUOHFRUSVGXPDvWUHF\OLQGUH1HSDVXWLOLVHU GH:'RXG¶DXWUHVSURGXLWVJUDVSRXUQHWWR\HUOH PDvWUHF\OLQGUH ż 7RXMRXUVXWLOLVHUGHVMRLQWVHWFOLSVQHXIV ż 5HPSODFHUWRXWHSLqFHGpIHFWXHXVH Q¶XWLOLVHUTXHGHVSLqFHVG¶RULJLQHV 62',.$57 ż 0HWWUHXQMHXGHSODTXHWWHVQHXYHVDSUqV WRXWHLQWHUYHQWLRQVXUOHVpWULHUV Ź1HSDVXWLOLVHUGHSURGXLWQHWWR\DQWTXL ULVTXHUDLWG¶HQGRPPDJHUOHVMRLQWV 8QHIXLWHGHOLTXLGHGHIUHLQSRXUUDLW DSSDUDvWUHFHTXLSHXWSURYRTXHUXQ DFFLGHQWJUDYHYRLUHPRUWHO 5HPSODFHPHQWMRLQWVSLVWRQVPDvWUH F\OLQGUH 5HPRQWDJH &HWWHRSpUDWLRQGRLWrWUHHIIHFWXpHSDUXQ GLVWULEXWHXU6RGLNDUW 'pPRQWDJH /pJHQGH &KDSH 3LVWRQ -RLQWWRULTXH -RLQW Ɣ $SSOLTXHUGHODJUDLVVH3)*VXUOHMRLQWWRULTXH HWVXUOHMRLQW Ɣ 0RQWHU/HMRLQWWRULTXHGDQVODJRUJHGXSLVWRQ Ɣ 0RQWHU/HMRLQWVXUOHSLVWRQ /pJHQGH &KHYLOOHGHSUHVVLRQ &DFKHSRXVVLqUH *RXSLOOH /HYLHUSLVWRQ )UHLQBLWDNDB)5B 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 5HPSODFHPHQWSLVWRQVPDvWUH F\OLQGUHDYDQW Ɣ $SSOLTXHUGHODJUDLVVH3)*VXUOHMRLQWWRULTXH OHMRLQWHWVXUOHSLVWRQ Ɣ $FFRXSOHUODFKDSHDYHFOHSLVWRQ &HWWHRSpUDWLRQGRLWrWUHHIIHFWXpHSDUXQ GLVWULEXWHXU6RGLNDUW 'pPRQWDJH /pJHQGH 9LV (FURX 3RLJQpH 3RXVVRLU 3LVWRQ Ɣ Ɣ Ɣ Ɣ /pJHQGH &KHYLOOHGHSUHVVLRQ &DFKHSRXVVLqUH *RXSLOOH /HYLHUSLVWRQ 2XWLOODJH6RGLNDUW 5HWLUHUODYLVHWO¶pFURX 5HWLUHUODSRLJQpHHWOHSRXVVRLU 6RUWLUOHSLVWRQGXPDvWUHF\OLQGUH 1HWWR\HUOHFRUSVGXPDvWUHF\OLQGUH1HSDVXWLOLVHU GH:'RXG¶DXWUHVSURGXLWVJUDVSRXUQHWWR\HUOH PDvWUHF\OLQGUH Ź1HSDVXWLOLVHUGHSURGXLWQHWWR\DQWTXL ULVTXHUDLWG¶HQGRPPDJHUOHVMRLQWV 8QHIXLWHGHOLTXLGHGHIUHLQSRXUUDLW DSSDUDvWUHFHTXLSHXWSURYRTXHUXQ DFFLGHQWJUDYHYRLUHPRUWHO Ɣ 5HPRQWHUO¶HQVHPEOHOHYLHUSLVWRQGDQVOHPDvWUH F\OLQGUH Ɣ 3ODFHUOHPDvWUHF\OLQGUHVXUO¶RXWLOODJHHW UHPHWWUHODJRXSLOOH Ɣ 5HPHWWUHOHFDFKHSRXVVLqUHHWOHVFKHYLOOHVGH SUHVVLRQVXUOHPDvWUHF\OLQGUH ż 7RXMRXUVXWLOLVHUGHVMRLQWVQHXIV ż 5HPSODFHUWRXWHSLqFHGpIHFWXHXVH Q¶XWLOLVHUTXHGHVSLqFHVG¶RULJLQHV 62',.$57 5HPRQWDJH /pJHQGH 9LV (FURX 3RLJQpH 3RXVVRLU 3LVWRQ Ɣ $SSOLTXHUGHODJUDLVVH3)*VXUOHSLVWRQ )UHLQBLWDNDB)5B &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH Ɣ 5HPHWWUHOHSLVWRQGDQVOHPDvWUHF\OLQGUH Ɣ 5HPRQWHUODSRLJQpHHWOHSRXVVRLUjO¶DLGH GHODYLVHWGHO¶pFURX ż 5HPSODFHUWRXWHSLqFHGpIHFWXHXVH Q¶XWLOLVHUTXHGHVSLqFHVG¶RULJLQHV 62',.$57 &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 5HPSODFHPHQWGXULWGHIUHLQ Ɣ /HVGXULWHVGHIUHLQVRQWGHVSLqFHVGHVpFXULWp ,OHVWLPSRUWDQWGHYpUL¿HUOHXUpWDWDYDQWFKDTXH XWLOLVDWLRQD¿QG¶pYLWHUWRXWULVTXHG¶DFFLGHQW Ɣ 9pUL¿HUO¶pWDWGHVGXULWHVGHIUHLQDX[SRLQWVFULWLTXHV DXQLYHDXGHVFROOLHUVHWGHVRUHLOOHV Ɣ &KDQJHUWRXWHGXULWHQGRPPDJpH Ɣ $O¶DLGHG¶XQHFOHIGHVVHUUHUODYLVjFKDTXH H[WUpPLWpGHODGXULWHWGHVSRLQWVGH¿[DWLRQVXUOH NDUW Ɣ 5HPRQWHUXQHGXULWQHXYHDYHFGHVMRLQWVHWGHYLV EDQMRVQHXYHV Ɣ 6¶DVVXUHUTXHOHVSRLQWVGH¿[DWLRQVGHVGXULWHVVXU OHNDUWVRLHQWFRUUHFWHPHQWVHUUpV Ź/HIUHLQG¶XQNDUWHVWO¶XQGHVpOpPHQWV PDMHXUVGHVpFXULWp1HSDVPHWWUHOH NDUWHQVHUYLFHVLOHV\VWqPHGHIUHLQDJH HVWGpIHFWXHX[RXGRXWHX[ Ź8QV\VWqPHGHIUHLQDJHQRQFRQIRUPH SHXWHQWUDvQHUXQDFFLGHQWJUDYHYRLUH PRUWHO Ź8QHIXLWHGDQVOHFLUFXLWGHIUHLQDJHSHXW FDXVHUXQDFFLGHQWJUDYHYRLUHPRUWHO Ź8WLOLVHUGXOLTXLGHGHIUHLQ'27 XQLTXHPHQW )UHLQBLWDNDB)5B 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 385*((71(772<$*( ż 1RXVYRXVFRQVHLOORQVGHSXUJHUHWGH UHQRXYHOHUOHFLUFXLWGHIUHLQDJHDSUqV FKDTXHFKDQJHPHQWGHSODTXHWWHVGHIUHLQ &HFLYRXVSHUPHWWUDGHFRQVHUYHUGHV SHUIRUPDQFHVGHIUHLQDJHRSWLPDOHV ż 3RXUXQDPRUoDJHSOXVUDSLGHGXFLUFXLW GHIUHLQDJHXWLOLVHUOHV\VWqPHG¶DPRUoDJH 62',.$57UpI28 ż (QWUHSRVHUOHOLTXLGHGHIUHLQXVpGDQV GHVFRQWHQDQWVLGHQWL¿pVHQDWWHQGDQWOD FROOHFWHSDUXQHQWUHSUHQHXUVSpFLDOLVp ż /HOLTXLGHGHIUHLQQ¶pWDQWSDVXQSURGXLWj EDVHGHSpWUROHQHSDVOHYHUVHUGDQVXQ UpVHUYRLUG¶KXLOHVXVpHV ż /HOLTXLGHGHIUHLQHVWK\GURSKLOH9pUL¿HU TXHODERXWHLOOHGHOLTXLGHGHIUHLQHWVRQ FRQWHQDQWHVWUpFHQWHHWTX¶HOOHDpWp HQWUHSRVpHGDQVGHERQQHVFRQGLWLRQV ż 9pUL¿HUTXHODSpGDOHVRLWIHUPHDSUqV FKDTXHSXUJH /pJHQGH 9LVGHSXUJH %RXFKRQ 3pGDOHGHIUHLQ 5pVHUYRLU Ɣ 3UHQGUHXQHGXULWHWXQUpFLSLHQWD¿QGHUpFXSpUHUOH OLTXLGHXVDJp Ɣ (QOHYHUOHVFDSXFKRQVGHSURWHFWLRQGHVYLVGH SXUJHVXUFKDTXHpWULHUDYDQWSXLVSODFHUXQH GXULWVXUODYLVGHSXUJHO¶DXWUHH[WUpPLWpGHODGXULW GRLWGpERXFKHUGDQVXQUpFLSLHQWYLGH Ɣ 'HVVHUUHUOpJqUHPHQWOHVYLVGHSXUJHDLQVLTXH OHERXFKRQGHUHPSOLVVDJH Ɣ $SSX\HUVXUODSpGDOHGHIUHLQGHIDoRQUpSpWpH MXVTX¶jFHTXHODWRWDOLWpGXOLTXLGHGHIUHLQVHVRLW pFRXOpH Ɣ 8QHIRLVODWRWDOLWpGXOLTXLGHYLGDQJpHHQOHYHU OHERXFKRQGHUHPSOLVVDJHHWIDLUHO¶DSSRLQW DYHFGXOLTXLGHGHIUHLQMXVTX¶DXQLYHDXPD[LPXP 5HVVHUUHUOHVYLVGHSXUJHSXLVDSSX\HUVXUOD SpGDOHGHIUHLQGHIDoRQUpSpWpHjIRLV Ɣ 'HVVHUUHUODYLVGHSXUJHGHO¶pWULHUDYDQWGURLW GXOLTXLGHGHIUHLQGRLWV¶HQpFRXOHU5HVVHUUHUODYLV GHSXUJHHWUpSpWHUSOXVLHXUVIRLVO¶RSpUDWLRQD¿Q G¶DOLPHQWHUFRUUHFWHPHQWOHFLUFXLW1HSDVRXEOLHU GHUDMRXWHUGXOLTXLGHGHIUHLQGDQVOHUpVHUYRLU DXIXUHWjPHVXUH3XUJHUOHFLUFXLWD¿QTXHOH OLTXLGHGHIUHLQTXLV¶pFRXOHGHODGXULWVRLWH[HPSW GHEXOOHVG¶DLU Ɣ 5HVVHUUHUODYLVGHSXUJHGHO¶pWULHUUHWLUHUOD GXULWHWUHSRVHUOHFDSXFKRQGHSURWHFWLRQ Ɣ 5pSpWHUO¶RSpUDWLRQSRXUO¶pWULHUDYDQWJDXFKH Ɣ (IIHFWXHUO¶DSSRLQWGXOLTXLGHGHIUHLQGDQVOH UpVHUYRLUMXVTX¶DXQLYHDXPD[LPXPHWUHVVHUUHU OHERXFKRQ )UHLQBLWDNDB)5B Ź8QHEXOOHG¶DLUGDQVOHFLUFXLWGH IUHLQDJHSHXWHQJHQGUHUXQHSHUWH SDUWLHOOHRXWRWDOHGHVIUHLQVHWFDXVHU XQDFFLGHQWJUDYHYRLUHPRUWHO Ź'HVIXLWHVGDQVOHFLUFXLWGHIUHLQDJH SHXYHQWFDXVHUXQDFFLGHQWJUDYHYRLUH PRUWHO Ź'HO¶KXPLGLWpGDQVOHOLTXLGHGH IUHLQSHXWFDXVHUXQSKpQRPqQHGH YDSRUORFNXQHSHUWHVRXGDLQHGH SXLVVDQFHGHIUHLQDJHHWFDXVHUXQ DFFLGHQWJUDYHYRLUHPRUWHO Ź8WLOLVHUGXOLTXLGHGHIUHLQ'27 XQLTXHPHQW Ź7HVWHUOHIUHLQDSUqVFKDTXHSXUJH &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 3XUJHGXFLUFXLWGHIUHLQDYDQW 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH 3XUJHGXFLUFXLWGHIUHLQDUULqUH ż 1RXVYRXVFRQVHLOORQVGHSXUJHUHWGH UHQRXYHOHUOHFLUFXLWGHIUHLQDJHDSUqV FKDTXHFKDQJHPHQWGHSODTXHWWHVGHIUHLQ &HFLYRXVSHUPHWWUDGHFRQVHUYHUGHV SHUIRUPDQFHVGHIUHLQDJHRSWLPDOHV ż 3RXUXQDPRUoDJHSOXVUDSLGHGXFLUFXLW GHIUHLQDJHXWLOLVHUOHV\VWqPHG¶DPRUoDJH 62',.$57UpI28 ż (QWUHSRVHUOHOLTXLGHGHIUHLQXVpGDQV GHVFRQWHQDQWVLGHQWL¿pVHQDWWHQGDQWOD FROOHFWHSDUXQHQWUHSUHQHXUVSpFLDOLVp ż /HOLTXLGHGHIUHLQQ¶pWDQWSDVXQSURGXLWj EDVHGHSpWUROHQHSDVOHYHUVHUGDQVXQ UpVHUYRLUG¶KXLOHVXVpHV ż /HOLTXLGHGHIUHLQHVWK\GURSKLOH9pUL¿HU TXHODERXWHLOOHGHOLTXLGHGHIUHLQHWVRQ FRQWHQDQWHVWUpFHQWHHWTX¶HOOHDpWp HQWUHSRVpHGDQVGHERQQHVFRQGLWLRQV ż 9pUL¿HUTXHODSpGDOHVRLWIHUPHDSUqV FKDTXHSXUJH &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW /pJHQGH 9LVGHSXUJH %RXFKRQ 3pGDOHGHIUHLQ 5pVHUYRLU Ɣ 3UHQGUHXQHGXULWHWXQUpFLSLHQWD¿QGHUpFXSpUHUOH OLTXLGHXVDJp Ɣ (QOHYHUOHFDSXFKRQGHSURWHFWLRQGHODYLVGH SXUJHSXLVSODFHUODGXULWVXUODYLVGHSXUJH O¶DXWUHH[WUpPLWpGHODGXULWGRLWGpERXFKHUGDQVXQ UpFLSLHQWYLGH Ɣ 'HVVHUUHUOpJqUHPHQWODYLVGHSXUJHDLQVLTXH OHERXFKRQGHUHPSOLVVDJH Ɣ $SSX\HUVXUODSpGDOHGHIUHLQGHIDoRQUpSpWpH MXVTX¶jFHTXHODWRWDOLWpGXOLTXLGHGHIUHLQVHVRLW pFRXOpH Ɣ 8QHIRLVODWRWDOLWpGXOLTXLGHYLGDQJpHHQOHYHU OHERXFKRQGHUHPSOLVVDJHHWIDLUHO¶DSSRLQW DYHFGXOLTXLGHGHIUHLQMXVTX¶DXQLYHDXPD[LPXP 5HVVHUUHUODYLVGHSXUJHSXLVDSSX\HUVXUOD SpGDOHGHIUHLQGHIDoRQUpSpWpHjIRLV Ɣ 'HVVHUUHUODYLVGHSXUJHGHO¶pWULHUGXOLTXLGH GHIUHLQGRLWV¶HQpFRXOHU5HVVHUUHUODYLVGHSXUJH HWUpSpWHUSOXVLHXUVIRLVO¶RSpUDWLRQD¿QG¶DOLPHQWHU FRUUHFWHPHQWOHFLUFXLW1HSDVRXEOLHUGHUDMRXWHU GXOLTXLGHGHIUHLQGDQVOHUpVHUYRLUDXIXUHWj PHVXUH3XUJHUOHFLUFXLWD¿QTXHOHOLTXLGHGHIUHLQ TXLV¶pFRXOHGHODGXULWVRLWH[HPSWGHEXOOHVG¶DLU Ɣ 5HVVHUUHUODYLVGHSXUJHGHO¶pWULHUUHWLUHUOD GXULWHWUHSRVHUOHFDSXFKRQGHSURWHFWLRQ Ɣ (IIHFWXHUO¶DSSRLQWGXOLTXLGHGDQVOHUpVHUYRLU MXVTX¶DXQLYHDXPD[LPXPHWUHVVHUUHUOHERXFKRQ Ź8QHEXOOHG¶DLUGDQVOHFLUFXLWGH IUHLQDJHSHXWHQJHQGUHUXQHSHUWH SDUWLHOOHRXWRWDOHGHVIUHLQVHWFDXVHU XQDFFLGHQWJUDYHYRLUHPRUWHO Ź'HVIXLWHVGDQVOHFLUFXLWGHIUHLQDJH SHXYHQWFDXVHUXQDFFLGHQWJUDYHYRLUH PRUWHO Ź'HO¶KXPLGLWpGDQVOHOLTXLGHGH IUHLQSHXWFDXVHUXQSKpQRPqQHGH YDSRUORFNXQHSHUWHVRXGDLQHGH SXLVVDQFHGHIUHLQDJHHWFDXVHUXQ DFFLGHQWJUDYHYRLUHPRUWHO Ź8WLOLVHUGXOLTXLGHGHIUHLQ'27 XQLTXHPHQW Ź7HVWHUOHIUHLQDSUqVFKDTXHSXUJH )UHLQBLWDNDB)5B 0DQXHOG¶HQWUHWLHQHWGHPDLQWHQDQFH ż 1RXVYRXVFRQVHLOORQVGHSXUJHUHWGH UHQRXYHOHUOHFLUFXLWGHIUHLQDJHDSUqV FKDTXHFKDQJHPHQWGHSODTXHWWHVGHIUHLQ &HFLYRXVSHUPHWWUDGHFRQVHUYHUGHV SHUIRUPDQFHVGHIUHLQDJHRSWLPDOHV ż 3RXUXQDPRUoDJHSOXVUDSLGHGXFLUFXLW GHIUHLQDJHXWLOLVHUOHV\VWqPHG¶DPRUoDJH 62',.$57UpI28 ż (QWUHSRVHUOHOLTXLGHGHIUHLQXVpGDQV GHVFRQWHQDQWVLGHQWL¿pVHQDWWHQGDQWOD FROOHFWHSDUXQHQWUHSUHQHXUVSpFLDOLVp ż /HOLTXLGHGHIUHLQQ¶pWDQWSDVXQSURGXLWj EDVHGHSpWUROHQHSDVOHYHUVHUGDQVXQ UpVHUYRLUG¶KXLOHVXVpHV ż /HOLTXLGHGHIUHLQHVWK\GURSKLOH9pUL¿HU TXHODERXWHLOOHGHOLTXLGHGHIUHLQHWVRQ FRQWHQDQWHVWUpFHQWHHWTX¶HOOHDpWp HQWUHSRVpHGDQVGHERQQHVFRQGLWLRQV ż 9pUL¿HUTXHODSpGDOHVRLWIHUPHDSUqV FKDTXHSXUJH /pJHQGH 9LVGHSXUJH %RXFKRQ /HYLHUGHIUHLQ 5pVHUYRLU Ɣ 3UHQGUHXQHGXULWHWXQUpFLSLHQWD¿QGHUpFXSpUHUOH OLTXLGHXVDJp Ɣ (QOHYHUOHVFDSXFKRQVGHSURWHFWLRQGHVYLVGH SXUJHVXUFKDTXHpWULHUDYDQWSXLVSODFHUXQH GXULWVXUODYLVGHSXUJHO¶DXWUHH[WUpPLWpGHODGXULW GRLWGpERXFKHUGDQVXQUpFLSLHQWYLGH Ɣ 'HVVHUUHUOpJqUHPHQWOHVYLVGHSXUJHDLQVLTXH OHERXFKRQGHUHPSOLVVDJH Ɣ $SSX\HUVXUOHOHYLHUGHIUHLQGHIDoRQUpSpWpH MXVTX¶jFHTXHODWRWDOLWpGXOLTXLGHGHIUHLQVHVRLW pFRXOpH Ɣ 8QHIRLVODWRWDOLWpGXOLTXLGHYLGDQJpHHQOHYHU OHERXFKRQGHUHPSOLVVDJHHWIDLUHO¶DSSRLQW DYHFGXOLTXLGHGHIUHLQMXVTX¶DXQLYHDXPD[LPXP 5HVVHUUHUOHVYLVGHSXUJHSXLVDSSX\HUVXUOH OHYLHUGHIUHLQGHIDoRQUpSpWpHjIRLV Ɣ 'HVVHUUHUODYLVGHSXUJHGHO¶pWULHUDYDQWGURLW GXOLTXLGHGHIUHLQGRLWV¶HQpFRXOHU5HVVHUUHUODYLV GHSXUJHHWUpSpWHUSOXVLHXUVIRLVO¶RSpUDWLRQD¿Q G¶DOLPHQWHUFRUUHFWHPHQWOHFLUFXLW1HSDVRXEOLHU GHUDMRXWHUGXOLTXLGHGHIUHLQGDQVOHUpVHUYRLU DXIXUHWjPHVXUH3XUJHUOHFLUFXLWD¿QTXHOH OLTXLGHGHIUHLQTXLV¶pFRXOHGHODGXULWVRLWH[HPSW GHEXOOHVG¶DLU Ɣ 5HVVHUUHUODYLVGHSXUJHGHO¶pWULHUUHWLUHUOD GXULWHWUHSRVHUOHFDSXFKRQGHSURWHFWLRQ Ɣ 5pSpWHUO¶RSpUDWLRQSRXUO¶pWULHUDYDQWJDXFKH Ɣ (IIHFWXHUO¶DSSRLQWGXOLTXLGHGHIUHLQGDQVOH UpVHUYRLUMXVTX¶DXQLYHDXPD[LPXPHWUHVVHUUHU OHERXFKRQ )UHLQBLWDNDB)5B Ź8QHEXOOHG¶DLUGDQVOHFLUFXLWGH IUHLQDJHSHXWHQJHQGUHUXQHSHUWH SDUWLHOOHRXWRWDOHGHVIUHLQVHWFDXVHU XQDFFLGHQWJUDYHYRLUHPRUWHO Ź'HVIXLWHVGDQVOHFLUFXLWGHIUHLQDJH SHXYHQWFDXVHUXQDFFLGHQWJUDYHYRLUH PRUWHO Ź'HO¶KXPLGLWpGDQVOHOLTXLGHGH IUHLQSHXWFDXVHUXQSKpQRPqQHGH YDSRUORFNXQHSHUWHVRXGDLQHGH SXLVVDQFHGHIUHLQDJHHWFDXVHUXQ DFFLGHQWJUDYHYRLUHPRUWHO Ź8WLOLVHUGXOLTXLGHGHIUHLQ'27 XQLTXHPHQW Ź7HVWHUOHIUHLQDSUqVFKDTXHSXUJH 1HWWR\DJH /HQHWWR\DJHGHVIUHLQVV¶HIIHFWXHjO¶DLGHG¶XQFKLIIRQ VHFHWGHQHWWR\DQWIUHLQXQLTXHPHQW1HSDVXWLOLVHU GH:'RXG¶DXWUHVSURGXLWVJUDVSRXUQHWWR\HUOHV pWULHUVHWGLVTXHVGHIUHLQ Ź6LGXSURGXLWQHWWR\DQWGHW\SH:' RXDXWUHHVWSURMHWpVXUOHGLVTXHGH IUHLQRXO¶pWULHUOHIUHLQDJHVHUDPRLQV HI¿FDFHYRLUHWRWDOHPHQWQXOSHQGDQW TXHOTXHVWRXUVFHTXLSHXWGRQF SURYRTXHUXQDFFLGHQWJUDYHYRLUH PRUWHO Ź1HSDVPHWWUHGXSURGXLWQHWWR\DQWGH W\SH:'RXDXWUHVXUODSRPSHGH IUHLQ &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 3XUJHGXFLUFXLWGHIUHLQDYDQW FRPPDQGHDXYRODQW &HGRFXPHQWQHGRLWrWUHQLUHSURGXLWQLFRPPXQLTXpQLWUDGXLWVDQVDXWRULVDWLRQGH6RGLNDUW 0DQXHOG¶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Ɣ .HHSWKHEUDNHV\VWHPLQLWVRULJLQDOFRQ¿JXUDWLRQ Ɣ 8VH21/<VSDUHSDUWVRI62',.$57RULJLQ Ɣ 8VHRIGDPDJHGHTXLSPHQWPD\OHDGWRDVHULRXVRU HYHQDIDWDOLQMXU\ Ɣ 8VHEUDNHÀXLG'27RQO\ Ɣ &KHFNWKHSDGVIRUZHDUEHIRUHHYHU\VWDUWXS Ɣ 1HYHUGULYHZLWKH[FHVVLYHO\ZRUQSDGVPLQLPXP WKLFNQHVVRISDGVIRU3&DQG3& FDOOLSHUVPP Ɣ 7KHEUDNHLVDQHVVHQWLDOVDIHW\HOHPHQW,IWKH EUDNLQJV\VWHPLVGHIHFWLYHRU\RXKDYHWKHVOLJKWHVW GRXEWGRQRWSXWWKHJRNDUWLQVHUYLFH Ɣ 1HYHUGULYHZLWKH[FHVVLYHO\ZRUQSDGVPLQLPXP WKLFNQHVVRISDGVIRU3&FDOOLSHUVPP Ɣ 'RQRWXVHDQ\FOHDQLQJSURGXFWWKDWFRXOGGDPDJH WKHVHDOV$EUDNHÀXLGOHDNFRXOGDSSHDUFDXVLQJD VHULRXVRUIDWDODFFLGHQW Ɣ 7KHEUDNHLVDQHVVHQWLDOVDIHW\HOHPHQW'RQRWSXW WKHJRNDUWLQRSHUDWLRQLIWKHEUHDNV\VWHPLVIDXOW\ RULI\RXKDYHDGRXEW Ɣ )DXOW\EUDNLQJV\VWHPPD\OHDGWRDVHULRXVRUHYHQ IDWDOLQMXU\ Ɣ &KHFNFRQQH[LRQVRIKRVHVQROHDN Ɣ $QDLUEXEEOHLQWKHEUDNHV\VWHPFDQOHDGWRD SDUWLDORUWRWDOORVWRIEUDNHVDQGPD\OHDGWRD VHULRXVRUHYHQIDWDOLQMXU\ Ɣ /HDNVLQWKHEUDNHV\VWHPPD\OHDGWRDVHULRXVRU HYHQIDWDOLQMXU\ Ɣ 0RLVWXUHLQWKHEUDNHÀXLGPD\FDXVHYDSRXUORFN DQGDVXGGHQORVVRIEUDNLQJSRZHUPD\OHDGWRD VHULRXVRUHYHQIDWDOLQMXU\ Ɣ 8VHEUDNHÀXLG'27RQO\ Ɣ 7HVWWKHEUDNHDIWHUHDFKEOHHG Ɣ ,I:'RUDVLPLODUFOHDQLQJSURGXFWLVVSODVKHG RQWKHEUDNHGLVFRUFDOOLSHUEUDNLQJZLOOEHOHVV HI¿FLHQWRUSRVVLEO\WRWDOO\LQHIIHFWLYHIRUDIHZ UHYROXWLRQV7KLVFRXOGFDXVHDVHULRXVRUIDWDO DFFLGHQW Ɣ 'RQRWDSSO\:'RURWKHUFOHDQLQJSURGXFWVWR WKHEUDNHSXPS 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ 6$)(7<,16758&7,216 ż ,QGLFDWHVDULVNRISURSHUW\GDPDJHLI LQVWUXFWLRQVDUHQRWIROORZHG ,QGLFDWHVDVWURQJSRVVLELOLW\RIVHULRXV SHUVRQQDOLQMXU\RUGHDWKLILQVWUXFWLRQV DUHQRWIROORZHG Ź.HHSWKHEUDNHV\VWHPLQLWVRULJLQDO FRQ¿JXUDWLRQ Ź8VH21/<VSDUHSDUWVRI62',.$57 RULJLQ Ź8VHRIGDPDJHGHTXLSPHQWPD\OHDGWR DVHULRXVRUHYHQDIDWDOLQMXU\ ,QWKHHYHQWRIDSUREOHPRULI\RXKDYH DQ\TXHVWLRQVDERXW\RXUEUDNHVSOHDVH FRQWDFW6RGLNDUW 3DUFG¶DFWLYLWpVGHV+DXWVGH&RXsURQ %3&28É521)UDQFH 7HO )D[ ZZZVRGLNDUWFRPVRGLNDUW#VRGLNDUWFRP )UHLQBLWDNDB(1B &OHDQLQJDQGPDLQWHQDQFHPDQXDO *(1(5$/ 7RROV *ORVVDU\ 7KHIROORZLQJJORVVDU\H[SODLQVDIHZEUDNHUHODWHG WHUPV %XUQLVKLQJ5XQLQSHULRGUHTXLUHGIRUDGLVFEUDNH V\VWHPWRDFKLHYHLWVPD[LPXPHI¿FLHQF\ 3XUJH(YDFXDWLQJDLUIURPDK\GUDXOLFFLUFXLW 5HVHUYRLU3DUWRIWKHEUDNHV\VWHPFRQWDLQLQJWKH EUDNHÀXLGVXSSO\ 0DVWHUF\OLQGHU&RPSRQHQWRIWKHEUDNHV\VWHPWKDW SODFHVWKHK\GUDXOLFFLUFXLWXQGHUSUHVVXUH &DOOLSHU&RPSRQHQWRIWKHEUDNHV\VWHPWRZKLFKWKH EUDNHSDGVDUHDWWDFKHG,WVTXHH]HVWKHGLVFOLNHDMDZ WRVORZWKHZKHHO )OXLGVDQGOXEULFDQWV 8VHEUDNHÀXLG'27RQO\ 'RQRWXVHDQ\RLOEDVHGOXEULFDQWZKLFKZRXOGFDXVH VZHOOLQJRIWKHUXEEHUSDUWV 62',.$57UHFRPPHQGVWKHXVHRI'27EUDNHÀXLG UHIHUWRWKH,7$.$ZHEVLWHIRUSURGXFWUHIHUHQFHVDQG UHFRPPHQGVWKDWWKHGLVFDQGSDGVVKRXOGEHFOHDQHG XVLQJEUDNHFOHDQHURQO\UHIHUWRWKH,7$.$ZHEVLWHIRU SURGXFWUHIHUHQFHV 8VH3)*JUHDVHWRLQVWDOOWKHVHDOVYLVLWWKH,7$.$ VLWHIRUSURGXFWFDWDORJXHQXPEHUV ż 3ODFHWKHÀXLGVLQZDWHUWLJKWFDQVDQG UHF\FOHWKHPDFFRUGLQJWRWKHUHJXODWLRQV LQIRUFH Ź8VHEUDNHÀXLG'27RQO\ Ɣ 0DVWHUF\OLQGHUWRRONLW3DUW1R28 Ɣ %UDNHEOHHGHU3DUW1R28 )UHLQBLWDNDB(1B 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ Ɣ 3LVWRQVWRSFHQWULQJGHYLFH3DUW1R28 &OHDQLQJDQGPDLQWHQDQFHPDQXDO )UHTXHQF\RIFOHDQLQJDQGPDLQWHQDQFH %HIRUH DQ\ VHVVLRQ &KHFNLQJWKHEUDNHÀ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Ɣ $GMXVWWKHEUDNHSDGVXQWLOWKH\UHDFKWKHVWRSXVLQJ WKHDGMXVWPHQWVFUHZV Ɣ 5HPRYHWKHIRXUUHWXUQVFUHZVDQGWKHIRXU VSULQJV Ɣ 6WUDLJKWHQWKHHQGVRIWKHSLQDQGWKHQUHPRYH LW Ɣ 5HPRYHWKHXVHGEUDNHSDGV Ɣ 3ODFHWKHQHZSDGVLQSRVLWLRQ Ɣ 3ODFHWKHQHZSLQLQSRVLWLRQDQGWKHQWZLVWLWV HQGV Ɣ 5HLQVWDOOWKHIRXUUHWXUQVFUHZVDQGWKHQHZ VSULQJVDSSO\LQJDGURSRIZHDNWKUHDGORFNLQJ FRPSRXQGRQWKHWKUHDGVRIWKHVFUHZ Ɣ 7LJKWHQWKHVFUHZVWRSXWWKHSDGVLQSRVLWLRQ 7KHJDSEHWZHHQWKHSDGDQGWKHGLVFPXVWEH PP Ɣ 6WUDLJKWHQWKHHQGVRIWKHSLQDQGWKHQUHPRYH LW Ɣ 5HPRYHWKHXVHGEUDNHSDGV Ɣ 3XVKWKHIRXUSLVWRQVEDFNLQWRWKHFDOOLSHUERG\ Ɣ 3ODFHWKHQHZSDGVLQSRVLWLRQ Ɣ 3ODFHWKHQHZSLQLQSRVLWLRQDQGWKHQWZLVWLWV HQGV ż 'RQRWRSHUDWHWKHEUDNHOHYHURUSHGDO XQOHVVSDGVDUHLQVWDOOHG7KLVZRXOG PDNHWKHSLVWRQVGLI¿FXOWWRUHWXUQWRWKHLU SRVLWLRQDQGEUDNHÀXLGOHDNVPLJKWWKHQ RFFXU ż 'RQRWRSHUDWHWKHEUDNHSHGDOXQOHVV SDGVDUHLQVWDOOHG7KLVZRXOGPDNHWKH SLVWRQVGLI¿FXOWWRUHWXUQWRWKHLUSRVLWLRQ DQGEUDNHÀXLGOHDNVPLJKWWKHQRFFXU Ź&KHFNWKHSDGVIRUZHDUEHIRUHHYHU\ VWDUWXS Ź1HYHUGULYHZLWKH[FHVVLYHO\ZRUQ SDGVPLQLPXPWKLFNQHVVRISDGVIRU 3&DQG3&FDOOLSHUV PP Ź7KHEUDNHLVDQHVVHQWLDOVDIHW\HOHPHQW ,IWKHEUDNLQJV\VWHPLVGHIHFWLYHRU\RX KDYHWKHVOLJKWHVWGRXEWGRQRWSXWWKH JRNDUWLQVHUYLFH Ź&KHFNWKHSDGVIRUZHDUEHIRUHHYHU\ VWDUWXS Ź1HYHUGULYHZLWKH[FHVVLYHO\ZRUQ SDGVPLQLPXPWKLFNQHVVRISDGVIRU 3&FDOOLSHUVPP Ź7KHEUDNHLVDQHVVHQWLDOVDIHW\HOHPHQW ,IWKHEUDNLQJV\VWHPLVGHIHFWLYHRU\RX KDYHWKHVOLJKWHVWGRXEWGRQRWSXWWKH JRNDUWLQVHUYLFH )UHLQBLWDNDB(1B &OHDQLQJDQGPDLQWHQDQFHPDQXDO 5HSODFLQJUHDUFDOOLSHUVHDOVDQG SLVWRQV 7KLVRSHUDWLRQPXVWEHSHUIRUPHGE\D 6RGLNDUWGHDOHU 5HPRYLQJ Ɣ 5HPRYHWKHSLVWRQVWRSFOLSXVLQJ¿QHSOLHUVRU DVFULEHU Ɣ /RRVHQWKHSLVWRQVWRSDQGUHPRYHWKH2ULQJ Ɣ $SSO\WKHVDPHSURFHGXUHIRUWKHVHFRQGKDOI FDOOLSHU Ɣ &OHDQWKHKDOIFDOOLSHUERGLHV'RQRWXVH:'RU RWKHUJUHDV\SURGXFWVWRFOHDQWKHFDOOLSHUV Ź'RQRWXVHDQ\FOHDQLQJSURGXFWWKDW FRXOGGDPDJHWKHVHDOV$EUDNHÀXLG OHDNFRXOGDSSHDUFDXVLQJDVHULRXVRU IDWDODFFLGHQW /HJHQG $GMXVWPHQWVFUHZ 5HWXUQVFUHZ 6SULQJ 3LQ %UDNHSDG %OHHGHUVFUHZ %DOO 0RXQWLQJVFUHZ 5HDVVHPEO\ Ɣ $GMXVWWKHEUDNHSDGVXQWLOWKH\UHDFKWKHVWRSXVLQJ WKHDGMXVWPHQWVFUHZV5HPRYHWKHIRXUUHWXUQ VFUHZVDQGWKHIRXUVSULQJV Ɣ 8QWZLVWWKHHQGVRIWKHSLQDQGWKHQUHPRYHLW Ɣ 5HPRYHWKHEUDNHSDGV Ɣ 5HPRYHWKHEOHHGVFUHZDQGLWVFDS Ɣ 5HPRYHWKHEDOOWDNLQJFDUHQRWWRORVHLW Ɣ 'LVFRQQHFWWKH\RNHE\UHPRYLQJWKHWZRPRXQWLQJ VFUHZV /HJHQG &OLS Ɣ 3ODFHDQHZSLVWRQVWRSFOLSLQSRVLWLRQ /HJHQG 2ULQJ 3LVWRQ *DVNHW Ɣ 5HPRYHWKHWZR2ULQJVWKHWZRSLVWRQV DQGWKHWZRVHDOVIURPHDFKKDOIFDOOLSHU )UHLQBLWDNDB(1B 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ /HJHQG &OLS 3LVWRQVWRS &OHDQLQJDQGPDLQWHQDQFHPDQXDO /HJHQG 2ULQJ 3LVWRQ *DVNHW *URRYH 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ /HJHQG 3LVWRQVWRS 2ULQJ Ɣ $SSO\3)*JUHDVHWRDQHZ2ULQJ Ɣ 3ODFHWKH2ULQJLQWKHSLVWRQVWRSJURRYH Ɣ $SSO\3)*JUHDVHWRWKH2ULQJDQGWKH SLVWRQVWRS Ɣ $SSO\3)*JUHDVHWRWKH2ULQJV Ɣ &KHFNWKDWWKHEDVHVRIWKHJURRYHVDUHFOHDQ Ɣ 3ODFHWKH2ULQJVLQSRVLWLRQLQWKHJURRYHV Ɣ 3ODFHWKHSLVWRQVLQSRVLWLRQ Ɣ $SSO\WKHVDPHSURFHGXUHIRUWKHVHFRQGKDOI FDOOLSHU Ɣ $SSO\3)*JUHDVHWRWKH2ULQJV Ɣ 3ODFHWKH2ULQJVLQSRVLWLRQDQGWKHQFRQQHFW WKHWZRKDOIFDOOLSHUV /HJHQG 3LVWRQVWRS 6RGLNDUWWRROV Ɣ 3XVKWKHSLVWRQVWRSLQWRWKHWRROWDNLQJ FDUHQRWWRGDPDJHWKH2ULQJ Ɣ 3ODFHWKHSLVWRQVWRSDQGWKHWRRORQWKH KDOIFDOOLSHU Ɣ )XOO\WLJKWHQWKHSLVWRQVWRSRQWKHKDOIFDOOLSHU XVLQJDVFUHZGULYHUDQGWKHQUHPRYHWKHWRRO /HJHQG %OHHGHUVFUHZ %DOO 0RXQWLQJVFUHZ /HJHQG &OLS 3LVWRQVWRS Ɣ 3ODFHWKHSLVWRQVWRSFOLSLQWKHJURRYHRIWKH SLVWRQVWRS Ɣ &KHFNWKDWWKHSLVWRQVWRSFOLSLVFRUUHFWO\ FOLSSHGLQWKHJURRYHRIWKHSLVWRQVWRS Ɣ ,03257$177RHQVXUHWKDWWKHFOLSLVSRVLWLRQHGRQ WKHSLVWRQVWRSORRVHQWKHVWRSLWVKRXOGQRWOHDYH WKHFDOOLSHUERG\ Ɣ 7LJKWHQWKHVFUHZV7RUTXH1PDSSO\LQJ DGURSRIZHDNWKUHDGORFNLQJFRPSRXQGWRHDFK VFUHZ Ɣ 5HLQVHUWWKHEDOOLQLWVKRXVLQJ Ɣ 7LJKWHQWKHEOHHGVFUHZDQGLWVFDS7RUTXH 1P Ɣ 5HLQVWDOOEUDNHSDGVUHIHUWRWKHVHFWLRQRQ &OHDQLQJ5HSODFHPHQWRIUHDUEUDNHSDGV ż $OZD\VXVHQHZVHDOVDQGFOLSV ż 5HSODFHDQ\GHIHFWLYHSDUWVXVLQJRQO\ RULJLQDO62',.$57SDUWV ż ,QVWDOODQHZVHWRISDGVDIWHUDQ\VHUYLFLQJ RIWKHFDOOLSHUV )UHLQBLWDNDB(1B &OHDQLQJDQGPDLQWHQDQFHPDQXDO 5HSODFLQJIURQWFDOOLSHUVHDOVDQG SLVWRQV 5HDVVHPEO\ 7KLVRSHUDWLRQPXVWEHSHUIRUPHGE\D 6RGLNDUWGHDOHU 5HPRYLQJ /HJHQG 2ULQJ 3LVWRQ *DVNHW *URRYH Ɣ Ɣ Ɣ Ɣ Ɣ $SSO\3)*JUHDVHWRWKH2ULQJV &KHFNWKDWWKHEDVHVRIWKHJURRYHVDUHFOHDQ 3ODFHWKH2ULQJVLQSRVLWLRQLQWKHJURRYHV 3ODFHWKHSLVWRQVLQSRVLWLRQ $SSO\WKHVDPHSURFHGXUHIRUWKHVHFRQGKDOI FDOOLSHU Ɣ $SSO\3)*JUHDVHWRWKH2ULQJV Ɣ 3ODFHWKH2ULQJVLQSRVLWLRQDQGWKHQFRQQHFW WKHWZRKDOIFDOOLSHUV /HJHQG 3LQ %UDNHSDG %OHHGHUVFUHZ 0RXQWLQJVFUHZ Ɣ Ɣ Ɣ Ɣ 8QWZLVWWKHHQGVRIWKHSLQDQGWKHQUHPRYHLW 5HPRYHWKHEUDNHSDGV 5HPRYHWKHEOHHGVFUHZDQGLWVFDS 'LVFRQQHFWWKH\RNHE\UHPRYLQJWKHWZRPRXQWLQJ VFUHZV /HJHQG %OHHGHUVFUHZ 0RXQWLQJVFUHZ /HJHQG 2ULQJ 3LVWRQ *DVNHW Ɣ 5HPRYHWKHWZR2ULQJVWKHWZRSLVWRQVDQG WKHWZRVHDOVIURPHDFKKDOIFDOOLSHU Ɣ &OHDQWKHKDOIFDOOLSHUERGLHV'RQRWXVH:'RU RWKHUJUHDV\SURGXFWVWRFOHDQWKHFDOOLSHUV Ź'RQRWXVHDQ\FOHDQLQJSURGXFWWKDW FRXOGGDPDJHWKHVHDOV$EUDNHÀXLG OHDNFRXOGDSSHDUFDXVLQJDVHULRXVRU IDWDODFFLGHQW )UHLQBLWDNDB(1B Ɣ 7LJKWHQWKHWZRVFUHZV7RUTXH1PDSSO\LQJ DGURSRIZHDNWKUHDGORFNLQJFRPSRXQGWRHDFK VFUHZ Ɣ 7LJKWHQWKHEOHHGVFUHZDQGLWVFDS 7RUTXH1P Ɣ 5HLQVWDOOEUDNHSDGVUHIHUWRWKHVHFWLRQRQ &OHDQLQJ5HSODFHPHQWRIIURQWEUDNHSDGV ż $OZD\VXVHQHZVHDOVDQGFOLSV ż 5HSODFHDQ\GHIHFWLYHSDUWVXVLQJRQO\ RULJLQDO62',.$57SDUWV ż ,QVWDOODQHZVHWRISDGVDIWHUDQ\VHUYLFLQJ RIWKHFDOOLSHUV 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ &OHDQLQJDQGPDLQWHQDQFHPDQXDO 5HSODFLQJPDVWHUF\OLQGHUVHDOVDQG SLVWRQV 5HDVVHPEO\ 7KLVRSHUDWLRQPXVWEHSHUIRUPHGE\D 6RGLNDUWGHDOHU 5HPRYLQJ 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ /HJHQG <RNH 3LVWRQ 2ULQJ *DVNHW Ɣ $SSO\3)*JUHDVHWRWKH2ULQJDQGWKH JDVNHW Ɣ 3ODFHWKH2ULQJLQWKHSLVWRQJURRYH Ɣ ,QVWDOOWKHJDVNHWRQWKHSLVWRQ Ɣ $SSO\3)*JUHDVHWRWKH2ULQJWKHJDVNHW DQGWKHSLVWRQ Ɣ )LWWKH\RNHWRWKHSLVWRQ /HJHQG 3UHVVXUHSLQ 'XVWFRYHU 3LQ 3LVWRQOHYHU Ɣ 5HPRYHWKHWZRSUHVVXUHSLQVDQGWKHGXVW FRYHU Ɣ :LWKGUDZWKHSLQDQGUHPRYHWKHSLVWRQOHYHU DVVHPEO\IURPWKHPDVWHUF\OLQGHU /HJHQG <RNH 3LVWRQ 2ULQJ *DVNHW Ɣ 'LVFRQQHFWWKH\RNHIURPWKHSLVWRQ Ɣ 5HPRYHWKH2ULQJDQGWKHVHDO Ɣ &OHDQWKHERG\RIWKHPDVWHUF\OLQGHU'RQRWXVH :'RURWKHUJUHDV\SURGXFWVWRFOHDQWKHPDVWHU F\OLQGHU Ź'RQRWXVHDQ\FOHDQLQJSURGXFWWKDW FRXOGGDPDJHWKHVHDOV$EUDNHÀXLG OHDNFRXOGDSSHDUFDXVLQJDVHULRXVRU IDWDODFFLGHQW )UHLQBLWDNDB(1B &OHDQLQJDQGPDLQWHQDQFHPDQXDO 5HSODFLQJWKHIURQWPDVWHUF\OLQGHU SLVWRQV 7KLVRSHUDWLRQPXVWEHSHUIRUPHGE\D 6RGLNDUWGHDOHU 5HPRYLQJ /HJHQG 6FUHZ 1XW +DQGOH 3XVKURG 3LVWRQ Ɣ Ɣ Ɣ Ɣ /HJHQG 3UHVVXUHSLQ 'XVWFRYHU 3LQ 3LVWRQOHYHU 6RGLNDUWWRROV 5HPRYHWKHVFUHZDQGWKHQXW 5HPRYHWKHKDQGOHDQGWKHSXVKURG 5HPRYHWKHSLVWRQIURPWKHPDVWHUF\OLQGHU &OHDQWKHERG\RIWKHPDVWHUF\OLQGHU'RQRWXVH :'RURWKHUJUHDV\SURGXFWVWRFOHDQWKHPDVWHU F\OLQGHU Ź'RQRWXVHDQ\FOHDQLQJSURGXFWWKDW FRXOGGDPDJHWKHVHDOV$EUDNHÀXLG OHDNFRXOGDSSHDUFDXVLQJDVHULRXVRU IDWDODFFLGHQW Ɣ 5HLQVWDOOWKHSLVWRQOHYHUDVVHPEO\LQWKHPDVWHU F\OLQGHU Ɣ 3ODFHWKHPDVWHUF\OLQGHURQWKHWRRODQG UHLQVWDOOWKHSLQ Ɣ 5HLQVWDOOWKHGXVWFRYHUDQGSUHVVXUHSLQVRQ WKHPDVWHUF\OLQGHU ż $OZD\VXVHQHZVHDOV ż 5HSODFHDQ\GHIHFWLYHSDUWVXVLQJRQO\ RULJLQDO62',.$57SDUWV )UHLQBLWDNDB(1B 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ &OHDQLQJDQGPDLQWHQDQFHPDQXDO 5HSODFLQJWKHEUDNHKRVH 5HDVVHPEO\ 7KLVRSHUDWLRQPXVWEHSHUIRUPHGE\D 6RGLNDUWGHDOHU Ɣ 7KHEUDNHÀXLGKRVHVDUHDFULWLFDOVDIHW\HOHPHQW,W LVYHU\LPSRUWDQWWRFKHFNWKHLUVWDWHUHJXODUO\ Ɣ &KHFNWKHVWDWHRIWKHKRVHVHVSHFLDOO\DW FRQQHFWLQJSRLQWVDQG¿[DWLRQSRLQWV Ɣ 5HSODFHDQ\GDPDJHGKRVH Ɣ 8VHDVSDQQHUWRORRVHQWKHVFUHZDWHDFKHQGRI WKHKRVHDQGWKHPRXQWLQJSRLQWVRQWKHJRNDUW Ɣ ,QVWDOODQHZKRVHZLWKQHZVHDOVDQGEDQMRVFUHZV Ɣ (QVXUHWKDWWKHPRXQWVVHFXULQJWKHKRVHVWRWKH JRNDUWDUHSURSHUO\WLJKWHQHG 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ /HJHQG 6FUHZ 1XW +DQGOH 3XVKURG 3LVWRQ Ź7KHEUDNHLVDQHVVHQWLDOVDIHW\HOHPHQW 'RQRWSXWWKHJRNDUWLQRSHUDWLRQLIWKH EUHDNV\VWHPLVIDXOW\RULI\RXKDYHD GRXEW Ź)DXOW\EUDNLQJV\VWHPPD\OHDGWRD VHULRXVRUHYHQIDWDOLQMXU\ Ź&KHFNFRQQH[LRQVRIKRVHVQROHDN Ź8VHEUDNHÀXLG'27RQO\ Ɣ $SSO\3)*JUHDVHWRWKHSLVWRQ Ɣ 5HLQVHUWWKHSLVWRQLQWKHPDVWHUF\OLQGHU Ɣ 5HLQVWDOOWKHKDQGOHDQGSXVKURGXVLQJWKH VFUHZDQGQXW ż 5HSODFHDQ\GHIHFWLYHSDUWVXVLQJRQO\ RULJLQDO62',.$57SDUWV )UHLQBLWDNDB(1B &OHDQLQJDQGPDLQWHQDQFHPDQXDO 385*,1*$1'&/($1,1* ż :HUHFRPPHQGWKDW\RXGUDLQDQGUH¿OOWKH EUDNHFLUFXLWDIWHUHYHU\EUDNHSDGFKDQJH 7KLVZLOODOORZ\RXWRPDLQWDLQRSWLPXP EUDNLQJSHUIRUPDQFH ż 7REOHHG\RXUEUDNHV\VWHPPRUHUDSLGO\ HVSHFLDOO\IRUDELJÀHHWZHUHFRPPHQG WKHSULPLQJV\VWHP62',.$575HI 28 ż 6WRUHWKHXVHGEUDNHÀXLGLQODEHOOHG FRQWDLQHUVXQWLOLWLVFROOHFWHGE\DVSHFLDOLVW ZDVWHGLVSRVDOFRPSDQ\ ż 7KHEUDNHOLTXLGGRHVQ¶WFRQWDLQSHWUROVR QHYHUSRXUWKHOLTXLGLQWRDXVLQJRLOWDQN ż %UDNHÀXLGDEVRUEVZDWHU0DNHVXUHWKH UHSODFHPHQWEUDNHÀXLGFRPHVIURPD FRQWDLQHUWKDWKDVEHHQVWRUHGLQJRRG FRQGLWLRQVDQGLVUHFHQW ż &KHFNWKDWWKHSHGDOLV¿UPDIWHUHDFK EOHHG /HJHQG %OHHGHUVFUHZ &DS %UDNHSHGDO 5HVHUYRLU Ź$QDLUEXEEOHLQWKHEUDNHV\VWHPFDQ OHDGWRDSDUWLDORUWRWDOORVWRIEUDNHV DQGPD\OHDGWRDVHULRXVRUHYHQIDWDO LQMXU\ Ź/HDNVLQWKHEUDNHV\VWHPPD\OHDGWRD VHULRXVRUHYHQIDWDOLQMXU\ Ź0RLVWXUHLQWKHEUDNHÀXLGPD\FDXVH YDSRXUORFNDQGDVXGGHQORVVRI EUDNLQJSRZHUPD\OHDGWRDVHULRXVRU HYHQIDWDOLQMXU\ Ź8VHEUDNHÀXLG'27RQO\ Ź7HVWWKHEUDNHDIWHUHDFKEOHHG Ɣ 8VHDSLSHDQGDFRQWDLQHUWRFROOHFWWKHXVHGÀXLG Ɣ 5HPRYHWKHSURWHFWLYHFDSVIURPWKHEOHHGVFUHZV RQHDFKIURQWFDOOLSHUDQGWKHQSODFHDKRVHRQ WKHEOHHGVFUHZ7KHRWKHUHQGRIWKHKRVHVKRXOG EHSODFHGLQDQHPSW\FRQWDLQHU Ɣ *HQWO\XQVFUHZWKHEOHHGHUVFUHZDQGWKH¿OOHU FDS Ɣ 5HSHDWHGO\SUHVVWKHEUDNHSHGDOXQWLODOOWKH ÀXLGKDVGUDLQHGRXW Ɣ :KHQDOOWKHÀXLGKDVEHHQGUDLQHGUHPRYHWKH ¿OOHUFDSDQGWRSXSWRWKHPD[LPXPOHYHOZLWK EUDNHÀXLG7LJKWHQWKHEOHHGVFUHZDQGWKHQ SUHVVWKHEUDNHSHGDOWKUHHRUIRXUWLPHV Ɣ /RRVHQWKHEOHHGHUVFUHZRIWKHIURQWULJKW FDOOLSHU%UDNHÀXLGVKRXOGÀRZRXW5HWLJKWHQWKH EOHHGVFUHZDQGUHSHDWWKLVVWHSVHYHUDOWLPHVWR IHHGWKHFLUFXLWSURSHUO\5HPHPEHUWRDGGEUDNH ÀXLGWRWKHUHVHUYRLUDVUHTXLUHG%OHHGWKH FLUFXLWVRWKDWWKHEUDNHÀXLGÀRZLQJRXWRIWKHKRVH FRQWDLQVQRDLUEXEEOHV Ɣ 5HWLJKWHQWKHFDOOLSHUEOHHGVFUHZUHPRYHWKH SLSHDQGUHDSSO\WKHSURWHFWLYHFDS Ɣ 5HSHDWWKHRSHUDWLRQIRUWKHIURQWOHIWFDOOLSHU Ɣ 7RSXSWKHEUDNHÀXLGLQWKHUHVHUYRLUWRLWV PD[LPXPOHYHODQGUHWLJKWHQWKHFDS )UHLQBLWDNDB(1B 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ %OHHGLQJWKHIURQWEUDNHFLUFXLW &OHDQLQJDQGPDLQWHQDQFHPDQXDO %OHHGLQJWKHUHDUEUDNHFLUFXLW ż :HUHFRPPHQGWKDW\RXGUDLQDQGUH¿OOWKH EUDNHFLUFXLWDIWHUHYHU\EUDNHSDGFKDQJH 7KLVZLOODOORZ\RXWRPDLQWDLQRSWLPXP EUDNLQJSHUIRUPDQFH ż 7REOHHG\RXUEUDNHV\VWHPPRUHUDSLGO\ HVSHFLDOO\IRUDELJÀHHWZHUHFRPPHQG WKHSULPLQJV\VWHP62',.$575HI 28 ż 6WRUHWKHXVHGEUDNHÀXLGLQODEHOOHG FRQWDLQHUVXQWLOLWLVFROOHFWHGE\DVSHFLDOLVW ZDVWHGLVSRVDOFRPSDQ\ ż 7KHEUDNHOLTXLGGRHVQ¶WFRQWDLQSHWUROVR QHYHUSRXUWKHOLTXLGLQWRDXVLQJRLOWDQN ż %UDNHÀXLGDEVRUEVZDWHU0DNHVXUHWKH UHSODFHPHQWEUDNHÀXLGFRPHVIURPD FRQWDLQHUWKDWKDVEHHQVWRUHGLQJRRG FRQGLWLRQVDQGLVUHFHQW ż &KHFNWKDWWKHSHGDOLV¿UPDIWHUHDFK EOHHG 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ /HJHQG %OHHGHUVFUHZ &DS %UDNHSHGDO 5HVHUYRLU Ź$QDLUEXEEOHLQWKHEUDNHV\VWHPFDQ OHDGWRDSDUWLDORUWRWDOORVWRIEUDNHV DQGPD\OHDGWRDVHULRXVRUHYHQIDWDO LQMXU\ Ź/HDNVLQWKHEUDNHV\VWHPPD\OHDGWRD VHULRXVRUHYHQIDWDOLQMXU\ Ź0RLVWXUHLQWKHEUDNHÀXLGPD\FDXVH YDSRXUORFNDQGDVXGGHQORVVRI EUDNLQJSRZHUPD\OHDGWRDVHULRXVRU HYHQIDWDOLQMXU\ Ź8VHEUDNHÀXLG'27RQO\ Ź7HVWWKHEUDNHDIWHUHDFKEOHHG Ɣ 8VHDSLSHDQGDFRQWDLQHUWRFROOHFWWKHXVHGÀXLG Ɣ 5HPRYHWKHEOHHGHUVFUHZSURWHFWLYHFRYHUDQG FRQQHFWWKHKRVHWRWKHEOHHGQLSSOHZLWKWKHIUHH HQGLQWKHUHFHSWDFOH Ɣ *HQWO\XQVFUHZWKHEOHHGHUVFUHZDQGWKH¿OOHU FDS Ɣ 5HSHDWHGO\SUHVVWKHEUDNHSHGDOXQWLODOOWKH ÀXLGKDVGUDLQHGRXW Ɣ :KHQDOOWKHÀXLGKDVEHHQGUDLQHGUHPRYHWKH ¿OOHUFDSDQGWRSXSWRWKHPD[LPXPOHYHOZLWK EUDNHÀXLG7LJKWHQWKHEOHHGVFUHZDQGWKHQ SUHVVWKHEUDNHSHGDOWKUHHRUIRXUWLPHV Ɣ /RRVHQWKHEOHHGHUVFUHZRIWKHFDOOLSHU%UDNH ÀXLGVKRXOGÀRZRXW5HWLJKWHQWKHEOHHGVFUHZ DQGUHSHDWWKLVVWHSVHYHUDOWLPHVWRIHHGWKH FLUFXLWSURSHUO\5HPHPEHUWRDGGEUDNHÀXLGWRWKH UHVHUYRLUDVUHTXLUHG%OHHGWKHFLUFXLWVRWKDW WKHEUDNHÀXLGÀRZLQJRXWRIWKHKRVHFRQWDLQVQR DLUEXEEOHV Ɣ 5HWLJKWHQWKHFDOOLSHUEOHHGVFUHZUHPRYHWKH SLSHDQGUHDSSO\WKHSURWHFWLYHFDS Ɣ 7RSXSWKHÀXLGLQWKHUHVHUYRLUWRLWVPD[LPXP OHYHODQGUHWLJKWHQWKHFDS )UHLQBLWDNDB(1B &OHDQLQJDQGPDLQWHQDQFHPDQXDO ż :HUHFRPPHQGWKDW\RXGUDLQDQGUH¿OOWKH EUDNHFLUFXLWDIWHUHYHU\EUDNHSDGFKDQJH 7KLVZLOODOORZ\RXWRPDLQWDLQRSWLPXP EUDNLQJSHUIRUPDQFH ż 7REOHHG\RXUEUDNHV\VWHPPRUHUDSLGO\ HVSHFLDOO\IRUDELJÀHHWZHUHFRPPHQG WKHSULPLQJV\VWHP62',.$575HI 28 ż 6WRUHWKHXVHGEUDNHÀXLGLQODEHOOHG FRQWDLQHUVXQWLOLWLVFROOHFWHGE\DVSHFLDOLVW ZDVWHGLVSRVDOFRPSDQ\ ż 7KHEUDNHOLTXLGGRHVQ¶WFRQWDLQSHWUROVR QHYHUSRXUWKHOLTXLGLQWRDXVLQJRLOWDQN ż %UDNHÀXLGDEVRUEVZDWHU0DNHVXUHWKH UHSODFHPHQWEUDNHÀXLGFRPHVIURPD FRQWDLQHUWKDWKDVEHHQVWRUHGLQJRRG FRQGLWLRQVDQGLVUHFHQW ż &KHFNWKDWWKHSHGDOLV¿UPDIWHUHDFK EOHHG /HJHQG %OHHGHUVFUHZ &DS %UDNHOHYHU 5HVHUYRLU Ź$QDLUEXEEOHLQWKHEUDNHV\VWHPFDQ OHDGWRDSDUWLDORUWRWDOORVWRIEUDNHV DQGPD\OHDGWRDVHULRXVRUHYHQIDWDO LQMXU\ Ź/HDNVLQWKHEUDNHV\VWHPPD\OHDGWRD VHULRXVRUHYHQIDWDOLQMXU\ Ź0RLVWXUHLQWKHEUDNHÀXLGPD\FDXVH YDSRXUORFNDQGDVXGGHQORVVRI EUDNLQJSRZHUPD\OHDGWRDVHULRXVRU HYHQIDWDOLQMXU\ Ź8VHEUDNHÀXLG'27RQO\ Ź7HVWWKHEUDNHDIWHUHDFKEOHHG Ɣ 8VHDSLSHDQGDFRQWDLQHUWRFROOHFWWKHXVHGÀXLG Ɣ 5HPRYHWKHSURWHFWLYHFDSVIURPWKHEOHHGVFUHZV RQHDFKIURQWFDOOLSHUDQGWKHQSODFHDKRVHRQ WKHEOHHGVFUHZ7KHRWKHUHQGRIWKHKRVHVKRXOG EHSODFHGLQDQHPSW\FRQWDLQHU Ɣ *HQWO\XQVFUHZWKHEOHHGHUVFUHZDQGWKH¿OOHU FDS Ɣ $SSO\WKHEUDNHOHYHUUHSHDWHGO\XQWLODOOWKH EUDNHÀXLGKDVGUDLQHGRXW Ɣ :KHQDOOWKHÀXLGKDVEHHQGUDLQHGUHPRYHWKH ¿OOHUFDSDQGWRSXSWRWKHPD[LPXPOHYHOZLWK EUDNHÀXLG7LJKWHQWKHEOHHGVFUHZDQGWKHQ SUHVVWKHEUDNHOHYHUWKUHHRUIRXUWLPHV Ɣ /RRVHQWKHEOHHGHUVFUHZRIWKHIURQWULJKW FDOOLSHU%UDNHÀXLGVKRXOGÀRZRXW5HWLJKWHQWKH EOHHGVFUHZDQGUHSHDWWKLVVWHSVHYHUDOWLPHVWR IHHGWKHFLUFXLWSURSHUO\5HPHPEHUWRDGGEUDNH ÀXLGWRWKHUHVHUYRLUDVUHTXLUHG%OHHGWKH FLUFXLWVRWKDWWKHEUDNHÀXLGÀRZLQJRXWRIWKHKRVH FRQWDLQVQRDLUEXEEOHV Ɣ 5HWLJKWHQWKHFDOOLSHUEOHHGVFUHZUHPRYHWKH SLSHDQGUHDSSO\WKHSURWHFWLYHFDS Ɣ 5HSHDWWKHRSHUDWLRQIRUWKHIURQWOHIWFDOOLSHU Ɣ 7RSXSWKHEUDNHÀXLGLQWKHUHVHUYRLUWRLWV PD[LPXPOHYHODQGUHWLJKWHQWKHFDS )UHLQBLWDNDB(1B &OHDQLQJ %UDNHVVKRXOGEHFOHDQHGXVLQJDGU\FORWKDQG EUDNHFOHDQHURQO\'RQRWXVH:'RURWKHUJUHDV\ SURGXFWVWRFOHDQWKHFDOOLSHUVDQGEUDNHGLVFV Ź,I:'RUDVLPLODUFOHDQLQJSURGXFWLV VSODVKHGRQWKHEUDNHGLVFRUFDOOLSHU EUDNLQJZLOOEHOHVVHI¿FLHQWRUSRVVLEO\ WRWDOO\LQHIIHFWLYHIRUDIHZUHYROXWLRQV 7KLVFRXOGFDXVHDVHULRXVRUIDWDO DFFLGHQW Ź'RQRWDSSO\:'RURWKHUFOHDQLQJ SURGXFWVWRWKHEUDNHSXPS 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ %OHHGLQJWKHVWHHULQJZKHHO FRQWUROOHGIURQWEUDNHFLUFXLW 7KLVGRFXPHQWFDQQRWEHUHSURGXFHGRUUHOHDVHGZLWKRXWWKH6RGLNDUWDXWKRUL]DWLRQ &OHDQLQJDQGPDLQWHQDQFHPDQXDO )UHLQBLWDNDB(1B