Professional Documents
Culture Documents
$/$+$=5$7QHW
KWWSZZZDODKD]UDWQHW
3HUPLVVLELOLW\RI)DWLKD7HHMD'DVZDQDQG&KDOLVZDQ
3HUPLVVLELOLW\RI)DDWLKD
7HHMD'DVZDDQDQG&KDOLVZDDQ
7KHUHZDUG7KDZDERISK\VLFDODQGILQDQFLDOJRRGGHHGVLVFRQYH\HGDQGUHFHLYHGLQIDYRXURIWKHRWKHU0XVOLP
DQGLWLVSHUPLVVLEOHLQVXSSRUWRIZKLFKWKHUHDUHPDQ\SURRIVSURYLGHGE\WKHYHUVHVRIWKH+RO\4XU
DQ$+DGLWK
RIWKH+RO\3URSKHW3HDFH%H8SRQ+LPDQGWKHVD\LQJVVWDWHPHQWVRIWKHUHOLJLRXVVFKRODUV7KH+RO\4XU
DQ
KDVVWUHVVHGXSRQ0XVOLPVWRSUD\IRUWKHZHOIDUHRIRWKHU0XVOLPVDVEURWKHUVDQGZHOOZLVKHUVLQWKH,VODPLF
IUDWHUQLW\IXQHUDOSUD\HURIGHFHDVHG0XVOLPLVDJODULQJH[DPSOHLQWKLVEHKDOI,QWKH0LVKNDDW%DEXO)LWDQ
%DEXO0DODDKLP&KDSWHU7ZRWKHUHLVDVD\LQJRI+DGUDW$EX+XUDLUD
,VWKHUHDQ\RI\RXZKRZLOOXQGHUWDNHWRSUD\WZRRUIRXUUDN
DKVRQP\EHKDOILQWKHPRVTXHRIDO
$VKVKDUVWDWLQJWKH\DUHRQEHKDOIRI$EX+XUD\UDK
6XQDQ$EL'DZRRG.LWDEDO0DODDKLP9RO3DJH+DGLWK
6KDX
DEDO,PDQOLO%D\KDTL%DEDO)DGDLODO+DMMZDDO8PUDK9RO3DJH+DGLWK
)URPWKHDERYHQDUUDWLRQWKUHHFOHDUSUREOHPVDQGWKHLUVROXWLRQVFDQEHGHGXFHGQDPHO\
7RRIIHUSK\VLFDODFWRIZRUVKLS1DPD]ZLWKWKHLQWHQWLRQRIFRQYH\LQJWKHWKDZDERIWKDW1DPD]WRDQ\
RWKHUSHUVRQLVSHUPLVVLEOH
7RXWWHUE\WKHWRQJXHSUD\LQJ$OPLJKW\$OODKWRFRQYH\WKHWKDZDEWRVRDQGVRE\1DPHLVPXFKEHWWHU
WKDQVLPSOHLQWHQWLRQ
7RRIIHUWKH1DPD]LQWKH0DVMLGRIVRPHULJKWHRXVVDLQWO\SHUVRQZLWKWKHLQWHQWLRQRIUHFHLYLQJPRUH
WKDZDELVDOVRSHUPLVVLEOH
)DWLKD7HHMD)DWLKDPDGHRQWKHUGGD\DIWHUDSHUVRQ
VGHDWK'DVZDDQWKHWKGD\DIWHUDQG&KDOLVZDDQRQ
WKHWKGD\DIWHUHWFSHUWDLQWRWKHH[FOXVLYHFDWHJRU\RI(HVDOH7KDZDEDQGQRWIRUUHFHLYLQJDQ\EHQHILWIRURQH
V
RZQVHOI2QWKHVHRFFDVLRQV)DWLKDUHFLWDWLRQRI4XU
DQDNLQGRISK\VLFDOGHHGRIJRRGQHVVDQG6DGTDKDPRGH
RIILQDQFLDOLQYROYHPHQWDUHGRQHPDLQO\UDWKHUH[FOXVLYHO\IRUFRQYH\LQJWKHUHZDUG(HVDOH6DZDELQIDYRXURI
WKHGHFHDVHGSHUVRQVZKHWKHUQHDUDQGGHDURQHVRUVRPHVSLULWXDOGLJQLWDULHV$ZOL\DO$OODKZKRDUHLQ
WKHPVHOYHVWKHIRXQWDLQKHDGVRIEOHVVLQJDQGEHQHILFHQFHIRUWKHLUGHYRWHHV
,Q7DIVLU5XKDO%D\DQLWLVVDLGZKLOHFRPPHQWLQJRQWKHYHUVHRI6XUDK$Q
DDP
,WLVUHSRUWHGIURP+DGUDW$D
UDMWKDWWKHSHUVRQZKRFRPSOHWHVWKHUHFLWDWLRQRIWKH+RO\4XU
DQIURP
EHJLQQLQJDWDVWUHWFKRUZLWKLQWHUPLWWHQWLQWHUYDOVWKHQSUD\VIRULWVDFFHSWDQFHDORQJZLWKWKH
IXOILOOPHQWRIKLVGHVLUHVLQWKH3UHVHQFHRI$OPLJKW\$OODKRQWKDWRFFDVLRQIRXUWKRXVDQGDQJHOV
VD\$DPHHQDQGWKH\WKHDQJHOVUHPDLQHQJDJHGLQWKHSUD\HU'XDIRUWKHEHWWHUPHQWDQG
IRUJLYHQHVVRIWKDWSHUVRQIURPPRUQLQJWRHYHQLQJRUIURPHYHQLQJWRPRUQLQJ>7DIVLU5RRKDO
%D\DQ9RO3DJH8QGHU9HUVHRI6XUDKDO$Q
DDP@
7KLVYHU\VXEMHFWKDVDOVREHHQPHQWLRQHGLQWKHERRNRI,PDP1DZDZL
V.LWDEDO$]NDDU&KDSWHUUHODWLQJWRWKH
7LODZDWUHFLWDWLRQRIWKH+RO\4XUDQ
,WLVHYLGHQWIURPWKHDERYHSUHVHQWHGUHIHUHQFHWKDWWKHSUD\HUEHJJHGIURP$OPLJKW\$OODKRQWKHFRQFOXVLRQRIWKH
&RPSOHWLRQRIUHFLWDWLRQRIWKH4XU
DQNQRZQDV.KDWPH4XUDQLVJUDQWHGE\$OPLJKW\$OODK7KHGHHGRI(HVDO
,QWKHERRN$VK
DWXO/DP
DWLWLVVDLGLQWKHFKDSWHU=L\DUDWLO4XEXUYLVLWLQJWKHJUDYHV
$IWHUWKHGHDWKRIWKHGHFHDVHGWKHVDGTDKVKRXOGEHJLYHQIRUVHYHQGD\V>$VKLDWDO/DP
DW9RO
3DJH@
$WDQRWKHUSODFHLQWKHVRPHERRNLWLVVDLG
7KHVRXORIWKHGHFHDVHGYLVLWVLWVKRPHLQWKHQLJKWRI)ULGD\WRVHHZKHWKHUWKHLQPDWHVUHODWLYHV
DUHRIIHULQJVDGTDKRUQRW>$VKLDWDO/DP
DW9RO3DJH@
,QWKHERRN$QZDUH6DWL
DKDQG+DVKL\DK.KD]DQDWDU5LZD\DDWLWLVZULWWHQWKDW
+RO\3URSKHW3HDFHDQG%OHVVLQJVRI$OODKEH8SRQ+LPRIIHUHGVDGTDKRQWKHWKLUGVHYHQWKDQG
IRUWLHWKGD\RIWKHPDUW\UGRPRI6D\\LGXQD+DP]DKDQGUHSHDWHGWKHVDPHDWHYHU\VL[WKPRQWKVDQG
DWWKHHQGRIWKH\HDU>$QZDDUH6DWL
DK3DJH@
,PDPDO1DZDZL$ODLKLUUD+PDKDVVDLG
+DGUDW$QDVELQ0DOLNXVHGWRJDWKHUKLVIDPLO\PHPEHUVRQWKHRFFDVLRQRI.KDWPDO4XUDQDQG
RIIHUHG)DWLKDLQWKH3UHVHQFHRI$OODKIRUWKHZHOIDUHRIDOO>.LWDEDO$]NDDU%DDE7LODZDWLO
4XU
DQ@
+DNHHP,EQ8WEDKVD\VWKDW
2QFH,EQ$EL/XEDEDKLQYLWHGDJURXSRIWKHSHRSOHDQGWROGWKHPWKDWKHKDGLQYLWHGWKHPDWKLV
KRPHEHFDXVHKHZDVFRPSOHWLQJWKH.KDWPDO4XU
DQRQWKDWGD\VRWKDWWKH\PLJKWEHQHILWWKHUHE\
DVWKHGXDRQWKDWDXVSLFLRXVRFFDVLRQUHFHLYHVWKHDFFHSWDQFHIURPWKH$OPLJKW\$OODK>.LWDEDO
$]NDDU%DDE7LODZDWLO4XU
DQ@
,WLVDOVRUHSRUWHGE\+DGUDW0XMDKLGRQUHOLDEOHDXWKRULW\WKDW
6RPHULJKWHRXVSHUVRQVXVHGWRJDWKHUWKHSHRSOHRQWKHRFFDVLRQRIWKH.KDWPDO4XU
DQDQGWROG
WKHPWKDWRQWKLVRFFDVLRQWKH0HUF\5DKPDWIURP$OODKGHVFHQGVXSRQWKRVHSUHVHQWWKHUH
>.LWDEDO$]NDDU%DDE7LODZDWLO4XU
DQ@
7KLVSURYLGHVVDQFWLRQIURPKROGLQJWKHJDWKHULQJRQWKHRFFDVLRQVRI7HHMDKDQG&KHK
ODP&KDOLVZDQLVD
SUDFWLFHDPRQJWKHVDLQWO\SHUVRQVRIWKH$KOXV6XQQDKZKLFKLVLQDVHQVHWKHLUVXQQDK
,Q5DGGXO0XKWDULWLVVDLGWKDWDFFRUGLQJWRD+DGLWK
,IDSHUVRQUHFLWHV6XUDK,NKODVHOHYHQWLPHVDQGFRQYH\VLWVWKDZDEWRWKHGHFHDVHG0XVOLPVWKHQKH
KLPVHOIVKDOOUHFHLYHWKHWKDZDEHTXDOWRWKHWRWDOUHZDUGJLYHQWRWKHVRXOVRIWKHGHFHDVHG0XVOLPV
>5DGGXO0XKWDU4LU
DWOLO0D\\LW%DDEDG'DIDQ9RO3DJH@
,WLVVDLGLQWKH6KDDPL
2QHPD\UHFLWHWKH+RO\4XU
DQE\ZD\RI)DWLKDRQDQ\SDUWLFXODURFFDVLRQLQWKHIROORZLQJ
PDQQHU,QWKHEHJLQQLQJ6XUDK)DWLKDWKHQWKHILUVWWKHUHYHUVHVRIWKH6XUDK%DTUDKWKHQ$\DWXO
.XUVLWKHODVWWKUHHYHUVHVRIWKH6XUDK%DTUDKWKHQ6XUDK<DVLQ6XUDK0XON6XUDK7DNDWKXUDQG
LQWKHHQG6XUDK,NKODVWKHODVWRQHUHFLWHG7ZHOYHWLPHVRU(OHYHQWLPHVRU6HYHQWLPHVRU7KUHHWLPH
WKHQSUD\WR$OPLJKW\$OODKIRUWKH(HVDOH6DZDELQIDYRXURIVRDQGVRSHUVRQRUSHUVRQV>5DGGXO
0XKWDU4LU
DWOLO0D\\LW%DDEDG'DIDQ9RO3DJH@
,QWKHDERYHSDVVDJHVIXOOSURFHGXUHRIWKHNQRZQRIIHULQJRI)DWLKDKDVEHHQRXWOLQHGZKLFKLQVKRUWLVWKDWWKH
PDQRIIHULQJ)DWLKDVKRXOGUHFLWHWKH+RO\4XU
DQIURPGLIIHUHQWSODFHVDQGILQDOO\SUD\WR$OPLJKW\$OODKWR
JUDQWWKHUHZDUGRIWKHUHFLWDWLRQLQIDYRXURIRUSHUVRQVFRQFHUQHG6LQFHLWLVVXQQDKWRUDLVHKDQGDWWKHWLPHRI
ILQDOSUD\HURI(HVDOH6DZDEWKHPDQVKRXOGUDLVHERWKSDOPVMRLQHGWRJHWKHUXSWRWKHVKRXOGHUV7KXVWKHSURRI
RIWKH)DWLKDLVHVWDEOLVKHG
,WLVVDLGLQWKH)DWDZD$]L]L\DK
7KH)DWLKDZKLFKLVLQWHQGHGIRU+DGUDW,PDP+DVDQDQG+DGUDW,PDP+XVVDLQRQWKHIRRG
SUHSDUHGIRUWKHRFFDVLRQVKRXOGEHRIIHUUHGZLWKWKHUHFLWDWLRQRIWKH6XUDK)DWLKDDFFRPSDQLHGE\
IRXU4XOVDQGWKH'XURRGZKLFKLVWKHVRXUFHRIEOHVVLQJDQGHDWLQJWKHIRRGSUHSDUHGIRUWKH
RFFDVLRQLVDOVREOLVVIXO>)DWDZD$]L]L\DK3DJH@
,QWKH)DWDZDH$]L]LDDWSDJHLWLVVDLG
,IWKH)DWLKDIRUWKHWKDZDERIWKH$ZOL\D$OODKLVRIIHUHGRQWKHIRRGSUHSDUHGZLWKWKHPLONDQGWKH
EUHDGPHVKHGWRJHWKHUNQRZQDV0DOHHGDKLVDOVRSHUPLVVLEOHDQGWKHUHLVQRKDUPLQGRLQJVR
>)DWDZD$]L]L\DK9RO3DJH@
,QWKH7HHMDUGDIWHUWKHGHPLVHRI6KDK:DOL\XOODKWKHUHZDVDKXJHFURZGRISHUVRQVZKRFRXOG
QRWEHFRXQWHGHDVLO\DQGQXPEHURIWKH.KDW
PH4XU
DQZDVQROHVVWKHQHLJKW\RQHRUPRUHDQG
WKHUHSHWLWLRQRIWKH.DOLPDH7D\\DEDKZDVOLWHUDOO\EH\RQGQXPEHUV>0DOIRR]DWH$EGXO$]L]
3DJH@
7KLVMXVWLILHVWKHFHUHPRQ\RIWKH)DWLKDDQG7HHMDDQGWKHUHFLWDWLRQRIWKH+RO\4XU
DQDVPXFKDVLWLV
FRQYHQLHQWSUHIHUDEO\WKH.KDWPH4XU
DQ
4DVLP1DQRWYLRI0DGULVVD'HREDQGZULWHVLQKLVERRN7HK]HHUDQ1DDV
,QDPHHWLQJWKHFRORXURIWKHIDFHRIRQH0XULGRI+DGUDW-XQDLGFKDQJHGVXGGHQO\GXHWRIHDU
KWWSZZZDODKD]UDWQHWSULQWSKS"S
3ULQW
+DGUDW-XQDLGDVNHGKLPWKHUHDVRQIRUWKLVVXGGHQIHDUWKHPXULGH[SODLQHGWKURXJKPXNDVKLIDK
WKDWKHKDVVHHQKLVPRWKHULQWKHKHOO+DGUDW-XQDLGKDGSUHYLRXVO\UHFLWHGWKH.DOLPDRQH/DFDQG
ILYHWKRXVDQGWLPHV%HOLHYLQJWKDWDVKHKDGFRPHWRNQRZDFFRUGLQJWRFHUWDLQWUDGLWLRQVULZD\DW
WKDWE\UHFLWLQJWKH.DOLPDIRURQH/DFDQGILYHWKRXVDQGWLPHVDQGWKH(HVDOH7KDZDEWKHUHRILQ
IDYRXURIFHUWDLQGHFHDVHGWKHUHLVKRSHWKDWWKHGHFHDVHGVKDOOEHJUDQWHGIRUJLYHQHVVE\$OPLJKW\
$OODK+DGUDW-XQDLGRIIHUHGWKHWKDZDERIWKHVDLG.DOLPDWRWKHPRWKHURIKLVPXULGVHFUHWO\DQG
VLOHQWO\LQKLVKHDUWZLWKRXWLQIRUPLQJWKHPXULG:LWKLQDIHZPRPHQWVWKHPXULGZDVVHHQEXUVWLQJ
ZLWKGHOLJKWDQGKDSSLQHVV2QEHLQJDVNHGWKHUHDVRQRIWKLVVXGGHQFKDQJHKHVDLGWKDWKHZDV
VHHLQJKLVPRWKHUMR\IXOO\DGPLWWHGLQWKH3DUDGLVH7KHQ+DGUDW-XQDLGH[SODLQHGWKHVLWXDWLRQDQG
VDLGWKDWKHKDGFRPHWRNQRZWKH0XNDVKLIDKFRUUHFWQHVVRIWKH\RXQJPDQWKURXJKWKH+DGLWKDQG
WKHFRUUHFWQHVVRIWKH+DGLWKZDVFRQILUPHGE\WKH0XNDVKLIDRIWKDWPDQ>7HK]HHUDO1DDV3DJH
@
)URPWKLVSDVVDJHLWLVREVHUYHGWKDWWKURXJKWKHUHFLWDWLRQRIWKH.DOLPD7D\\DEDRQHODFDQGILYHWKRXVDQG
WLPHVDQGRQEHLQJJLYHQUHZDUGWRKLPLWLVKRSHGWKDWWKHGHFHDVHG0XVOLPVKDOOEHIRUJLYHQRIKLVVKRUW
FRPLQJVLQWKHZRUOG7KLVWUDGLWLRQRI(VDOH7KDZDEKDVEHHQDFFHSWHGDVWKHSDUWRIWKH7HHMD
7KHRQO\DVSHFWIRUFRQVLGHUDWLRQLVZKHWKHUWKHIRRGVKRXOGEHNHSWLQIURQWDQGWKHQRIIHUVWKH)DWLKDE\UDLVLQJ
KDQGV7KHUHDUHPDQ\$KDGLWKFRQFHUQLQJWKLVSRLQW,WLVUHFRUGHGLQ0LVKNDDW6KDULI&KDSWHURI0LUDFOHV$O
0X
ML]DDW,WLVUHSRUWHGE\+DGUDW$EX+XUDLUDWKDWRQFHKHEURXJKWVRPHGDWHVLQWKHSUHVHQFHRIWKH+RO\3URSKHW
3HDFH%H8SRQ+LPDQGUHTXHVWHGKLPWRSUD\IRULWVDEXQGDQWJURZWK
7KH+RO\3URSKHW3HDFH%H8SRQ+LPPL[HGWKHVHGDWHVWRJHWKHUDQGSUD\HGIRULQFUHDVHGJURZWK
RIWKHGDWHVGU\IUXLW>7LUPLGKL%DEDO0DQDTLE9RO3DJH+DGLWK@
,WLVUHFRUGHGLQWKH0LVKNDDW%DEXO0XML]DWWKDWLQWKH%DWWOHRI7DEXN
$WRQHVWDJHRIWKHEDWWOHDVKRUWDJHRIIRRGZDVIHOWLQWKH,VODPLFDUP\7KH+RO\3URSKHW3HDFH%H
8SRQ+LPDVNHGHYHU\PDQSUHVHQWWKHUHWREULQJZKDWHYHUZDVZLWKKLP(YHU\RQHEURXJKW
ZKDWHYHUZDVZLWKKLPDQGSUHVHQWHGLWWRWKH+RO\3URSKHW3HDFH%H8SRQ+LP7KHWDEOHFORWK
ZDVVSUHDG7KH+RO\3URSKHW3HDFH%H8SRQ+LPSUD\HGIRUWKHEOHVVLQJRYHUWKHIRRGVRVSUHDG
$IWHUWKLVKHDVNHGWKHPHQWRSXWEDFNWKHIRRGLQWKHXWHQVLOVSRWVDVDUHVHUYHIRUHDWLQJDWWKH
IRRGWLPH>0LVKNDWDO0DVDELK%DDEDO0DXML]DW3DJH@
,QWKHVDPH0LVKNDDWLWLVDOVRUHFRUGHGWKDW
2QWKHZHGGLQJRIWKH+RO\3URSKHWSHDFHEHXSQRKLPZLWK+DGUDW=DLQDE+DGUDW8PPH
6DOHHPSUHSDUHGDVPDOOTXDQWLW\RIYDOLPDLQFHOHEUDWLRQRIWKHZHGGLQJ%XWWKH+RO\3URSKHW
3HDFH%H8SRQ+LPLQYLWHGDODUJHQXPEHURI&RPSDQLRQVWRDWWHQGWKH9DOLPD7KHIRRGZDV
REYLRXVO\VKRUW7KH+RO\3URSKHW3HDFH%H8SRQ+LPUHFLWHGVRPHSUD\HURQWKHIRRGDQGSDVVHG
KLV+RO\KDQGRYHUWKHIRRG>0LVKNDWDO0DVDELK%DDEDO0DXML]DW3DJH@
7KHUHLV\HWDQRWKHULQFLGHQWRISUD\LQJRYHUWKHIRRGIRUWKHEOHVVLQJLQWKHIRRGZKLFKLVUHFRUGHGLQWKHVDPH
0LVKNDDWDQGLWLVWKDW
>0LVKNDWDO0DVDELK%DDEDO0DXML]DW3DJH@
+RZHYHULWVXIILFHVWRSURYHWKDWQHFHVVDU\VWDJHVRIWKH)DWLKDGHVFULEHGLQWKHVHOLQHVSURYHWKH)DWLKDDVD
SHUPLVVLEOHRIIHULQJIRUWKHSXUSRVHRI(HVDOH6DZDE,WLVQRZFOHDUWKDW)DWLKDLVWKHFRPELQDWLRQRIWKHDERYH
PHQWLRQHGWZRWKLQJVQDPHO\WKHUHFLWDWLRQRIWKH4XUDQDQG6DGTDKZKLFKDUHREYLRXVO\SHUPLVVLEOHDVZHOODVWKH
PHDQVDQGPHGLXPRIEOHVVLQJEDUNDWLQWKHLURZQZD\7KHQZK\VKRXOGWKHFRPELQDWLRQRIWKHVHWZRLQWKH
RIIHULQJRI)DWLKDEHFRQVLGHUHGDV+DUDPZKHQWKHLQWHQWKDVQRPXQGDQHRUZRUOGO\JDLQLQWKHRIIHULQJRI
)DWLKD"
)RUREYLRXVUHDVRQVZKHQWKHLQJUHGLHQWVRIPDQ\HDWDEOHVDUHKDODOWKHQRQZKDWJURXQGVWKHFRPELQDWLRQRI
WKHVHLQJUHGLHQWVEHGHFODUHGDVXQODZIXORUKDUDPZKHQWKHSUHSDUHGFRPELQDWLRQGRHVQRWSURGXFHDQ\
REMHFWLRQDEOHUHVXOWZKLFKLVQRWSHUPLVVLEOHLQWKHODZVRIWKHVKDULDK7KHRWKHUSRLQWWRREVHUYHLQWKLVUHJDUGLV
WKDWWKHWKLQJIRUZKLFKIDWLKDRUGXDIRUEOHVVLQJLVVRXJKWVKRXOGEHSODFHGEHIRUHWKHSHUVRQGRLQJWKHGXD7KLV
LVVXQQDKDQGWKHWUDGLWLRQRIWKH+RO\3URSKHW3HDFH%H8SRQ+LPDVZHKDYHVHHQWKDWLQWKHFDVHVPHQWLRQHG
LQWKHVHOLQHVWKHWKLQJVIRUZKLFKEOHVVLQJZDVSUD\HGZHUHSODFHGEHIRUHWKH+RO\3URSKHW3HDFH%H8SRQ+LP
7KHIXQHUDOSLHU-DQD]DRIWKHGHFHDVHGLVSODFHGLQIURQWRIWKH,PDPZKROHDGVWKHIXQHUDOSUD\HUDQGRIIHUVWKH
'XDIRUJLYHQHVVLQWKH3UHVHQFHRI$OODK-XVWLQWKHVDPHZD\WKHIRRGVWXIIRQZKLFKEOHVVLQJLVVRXJKWLVSODFHG
EHIRUHWKHSHUVRQRIIHULQJWKHGXD7KHUHDSSHDUVQRYDOLGMXVWLILFDWLRQIRUREMHFWLQJWKLVJHVWXUHRIVHHNLQJ%OHVVLQJV
IURP$OPLJKW\$OODK,WLVVDLGWKDWWKH6\HGXQD5DVRROXOODK6DOODOODKR$ODLKL:D6DOODPZKLOHVDFULILFLQJWKH
DQLPDORI4XUEDQLSUD\HGIRUWKHEOHVVLQJVLQIDYRXURIWKH8PPDKZKLOHWKHDQLPDORIVDFULILFHOD\EHIRUHKLPKH
UHFLWHGKHIROORZLQJGXDRQWKDWRFFDVLRQ
2$OODK$FFHSWWKLV4XUEDQL6DFULILFHRQEHKDOIRIP\8PPDK>6XQDQ$EL'DZRRG9RO3DJH
@
7KH'XDRQWKHRFFDVLRQRI$TLTDLVDOVRUHFLWHGRYHUWKHVDFULILFLDODQLPDOWKDWUHPDLQVEHIRUHWKHVLJKW5HFLWLQJ
%LVPLOODKEHIRUHHDWLQJWKHIRRGNHSWLQIURQWLVWKHFRPPDQGRIWKH6KDULDJK%LVPLOODKDVZHDOONQRZLVWKHYHUVH
RIWKH+RO\4XU
DQ)DWLKDIRU(HVDOH6DZDERUEOHVVLQJLVWKHSURFHVVRQDODUJHUVFDOHEXWQRWGLIIHUHQWLQDQ\ZD\
7KHOHDGHURIWKHSURKLELWRUVRIWKH)DWLKDLVDOVRLQIDYRXURIWKH)DWLKDLQWKHFXUUHQWPDQQHU6KDK:DOL\XOODKLQ
KLVERRN.LWDEXO,QWLEDKIL6DODVVLO$XOL\DZULWHVDVXQGHU
7KHQUHFLWHWKH'XURRGWHQWLPHVDQGDIWHUFRPSOHWLQJLWRIIHUWKH)DWLKDLQWKHQDPHDQGRQEHKDOI
RIWKH.KZDMJDQH&KLVKWRQVRPHVZHHWVDQGWKHQSUD\WR$OODKIRU+LV%OHVVLQJ>.LWDEXO,QWLEDK
IL6DODVVLO$XOL\D3DJH@
6KDK:DOL\XOODKLQKLVRWKHUERRN
=XEGDWXQ1DVDDLT
ZULWHVZKLOHUHSO\LQJWRDTXHVWLRQDGGUHVVHGWRKLP
2IIHU)DWLKDRQWKHIRRGFRRNHGZLWKWKHPL[WXUHRIULFHDQGPLONIRUWKH(HVDOH6DZDERIVRPH
:DOL$OODKDQGHDWVRPHRIWKLV\RXUVHOIEHVLGHVRIIHULQJWRWKHSRRUDQGWKHQHHG\,IWKH)DWLKDLV
RIIHUHGLQWKHQDPHRIVRPHP\VWLFJUHDWSHUVRQDOLW\7KHQWKLVFDQEHWDNHQHYHQE\ULFKDQGWKHZHOO
WRGRSHUVRQV>=XEGDWDQ1DVDLT3DJH@
+DGUDW+DML,PGDGXOODKWKH0XUVKLGRI$VKUDI$OL7KDQZLDQG5DVKLG$KPDG*DQJRKLKDVZULWWHQLQKLVERRN
)DLVOD+DIW0DV
DODK
1RRQHKDVDQ\REMHFWLRQDQGLWLVDFFHSWDEOHWRDOOWKDWWKHLVVXHRI(HVDOH7KDZDEE\LWVHOIIRUWKH
KWWSZZZDODKD]UDWQHWSULQWSKS"S
3ULQW
EOHVVLQJVRIWKHGHFHDVHGSHUVRQVLVMXVWLILDEOHKRZHYHULIWKH)DWLKDRU(HVDOH6DZDELVGRQHLQWKH
QDPHRIVRPHFKRVHQSHUVRQDQGUHVWULFWLQWKHEOHVVLQJWKHUHRIH[FOXVLYHO\WRWKDWSHUVRQDOLW\
EHOLHYLQJLWDV)DUGRU:DMLEWKHQVXFKDFRXUVHLVSURKLELWHGH[FHSWWKDWWKLVH[FOXVLYHRIIHULQJLVRQ
DFFRXQWRIVRPHVSHFLILFUHDVRQZLWKRXWEHOLHYLQJDV)DUGDQG:DMLEWKHQVXFKDQRIIHULQJFDQEH
DOORZHG7KLVPD\EHWDNHQDVRUVXJJHVWLQJUHFLWDWLRQRIFHUWDLQSDUWRIWKH+RO\4XU
DQLQWKH
RIIHULQJRIVRPH1DZDILOVRURWKHUVXJJHVWHGSUD\HUV7KHODWWHUFRXUVHKDVWKHDSSURYDODQGFRQVHQW
RIWKHUHOLJLRXVVFKRODUVIRUH[DPSOHSUDFWLFHRIVRPH0DVKDLNKLQWKH1DPD]RI7DKDMMXG>)DLVOD
+DIW0DV
DODK@
7KHQDWDQRWKHUSODFHKHVD\V
7KRXJKWKHLQWHQWLQWKHKHDUWIRURIIHULQJDQ\QDPD]LVSHUPLVVLEOHEXWLQRUGHUWRKDYHDNLQGRI
XQLRQEHWZHHQWKHKHDUWDQGWKHWRQJXHLWLVDGYLVDEOHLIWKHLQWHQW1L\DWRIWKH1DPD]PD\DOVREH
XWWHUHGE\WRQJXH$SURSRVRIWKLVKRO\LQWHQWLQUHVSHFWRIWKH1DPD]LIDIHZZRUGV2$OODK*UDQW
WKHWKDZDERIWKLV)DWLKDWRVRPHGHFHDVHG,WVKRXOGEHWDNHQDVVRPHWKLQJSHUPLVVLEOH7KLVLQ
RWKHUZRUGVMXVWLILHVWKHRIIHULQJRIWKH)DWLKDRU(LVDOH6DZDEDVLVXVXDOO\GRQHE\GHYRWHHVRIWKH
6XQQDWZDO-DPD
DWHVSHFLDOO\VRPHSRUWLRQRIWKH+RO\4XU
DQLVDOVRUHFLWHGLQWKHODWWHURFFDVLRQV
LQZKLFKWKHVDZDERIWKH4XUDQZLOOEHDGGHGWRWKHRIIHULQJRI)DWLKD7KHPRVWVWULNLQJIHDWXUHRI
WKLVDGPLVVLELOLW\RIWKH1D]DUR1L\D]DVWKHKLJKLGHDOVH[SUHVVHGE\WKHJUHDWVFKRODU>)DLVOD+DIW
0DV
DODK@
+DGUDW+DML6DKLEFRQWLQXHVVD\LQJ
7KH*L\DUKZHHQRI*KDXV3DN'DVZDQ%HHVZDQ&KHKODP6KDVKPDKLDQG6DODQ7KHIDWLKD
FHUHPRQLHVRIWKHGD\WZHQWLHWKGD\IRUWLHWKGD\WKH6L[WKPRQWO\DQGWKH$QQXDO)DWLKDV7RVKD
RI+DGUDW6KDLNK$EGXO+DTDQG%DUVLQLRI+DGUDW6KDK%X$OL4DODQGHUWKH+DOZDRI6KDEH
%UD
DWDQGRWKHUPRGHVRIIDWLKDHWFFRPHZLWKLQWKHSXUYLHZRIWKLVJHQHUDODGPLVVLELOLW\>)DLVOD
+DIW0DV
DODK@
7KHEURDGKHDUWHGZRUGVRIWKHJUHDW3LU6DKLEKDYHVHWWOHGWKHSUREOHPRI)DWLKDDVDJUHDWDQGZRUWKZKLOH
GHFLVLRQLQWKLVEHKDOIRQWKHPRUDOORJLFDOSKLORVRSKLFDOUHOLJLRXVDQGVSLULWXDOJURXQGVOHDYLQJQRMXVWLILDEOH
H[FXVHRUREMHFWLRQLQWKLVEHKDOIDQGLIDQ\VXFKWKLQJVFURSXSE\ZD\RIREMHFWLRQRUGHQLDOWKHQLWZLOOQRWEH
GLIILFXOWWRDQVZHUWKHPHIIHFWLYHO\
([WUDFWHG)URP
-D$O+DT7KH2EOLWHUDWLRQRI)DOVHKRRG
E\0XIWL$KPDG<DU.KDQ1D
HHPL