IN THE Supreme Court of the United States -...

!"# $%&$%'

!" #$%

Supreme Court of the United States_______________

&%'(" &()%*+!"#$#$%&"'(

,-

.%(" /("%+ %# (/-)"*+%&,"&#*-

000000000000000

() *+,-,-") ."/ 0 1/-, ". 2+/,-"/0/- ," ,3+4)-,+5 6,0,+7 2"8/, ". 9::+0;7

."/ ,3+ !-),3 2-/<8-,000000000000000

=>?@A (A >@6*(!B@!C A92@=((DE ?!2# ?! (**(6?C?(!000000000000000

*)!.#!" /!"./%1 &1/%. -%.&*"/ %0 )"1%',

)2.%&()!% #- )!"'32"(#$(" $- 4/(5!"&!6$(%/ 3- &2"'("&7"'%)+ #2//%. 8 2/.2" //9:;< &=>>=?@ .ABCCA+ DEAF GH-.I@ GBI@J=>J?+ 6( KLM<:NLM:O :MDPL<<<QB=>A=@-RSHC>TRA?-J?R

&!6$(%/ '- )$2U%. &(##$%V U- 4)2V"/2)! )- &(.2"622/%1 //9M<M 6IH=W?B@=I .ABCCA+ :AF GH-.I@ GBI@J=>J?+ 6( KLMMMNLM:O ;KXPD<<<

(YZY>A DE+ D<MX

=

F4@6C?(! *>@6@!C@B

VFCAFCB AFC [=>AB=JA J?YBA I\Y>C[ =A> [=>JBCA=?@ =@ I]]B?,=@Z I JHI>> IJA=?@ >CAAHCRC@A AFIA =@,?H,C[ =@^Y@JA=,C BCH=CW I@[ I 12 +'"* [=>AB=\YA=?@ ?W >Y\>AI@A=IH WY@[> A? I @?@P]B?W=A W?Y@[IA=?@+ _FCBC =A _I> Y@[=>]YAC[ AFIA [=BCJA R?@CAIBS ]ISRC@A> A? =@[=,=[YIH JHI>> RCR\CB> _?YH[ FI,C \CC@ ," 3$&$3$* I@[ AFC [=>AB=JA J?YBA W?Y@[ AFIA AFC [=>AB=\YA=?@ A? AFC W?Y@[IA=?@ _?YH[ WYBAFCB AFC =@ACBC>A> >?YZFA A? \C ,=@[=JIAC[ AFB?YZF AFC IJA=?@-

==

*9>C?@6 C( CG@ *>(2@@B?!H6

)C>]?@[C@A GIJC\??Q+ !@J- =@J?B]?BIAC> AFC >AIACRC@A ?W ]IBA=C> A? AFC ]B?JCC[=@Z WB?R AFC 9CA=A=?@ N9CA- ==O+ I@[ IH>? @?AC> AFIA I[[=A=?@IH ]IBA=C> =@ AF=> 6?YBA IBC )C>]?@[C@A> '=@ZCB &J6IHH I@[ 4C@^IR=@ #B?AACB+ \?AF ?W _F?R _CBC ?\^CJA?B> =@ AFC [=>AB=JA J?YBA ]B?JCC[=@Z> I@[ I]]CHHI@A> =@ AFC J?YBA ?W I]]CIH> ]B?JCC[=@Z>+ \YA [=[ @?A W=HC I ]CA=A=?@ =@ AF=> 6?YBA- 4"" .Y]- 6A- )- MD-;-

2(>*(>9C@ B?62I(64>@ 6C9C@J@!C

)C>]?@[C@A GIJC\??Q+ !@J- FI> @? ]IBC@A J?B]?BIA=?@+ I@[ @? ]Y\H=JHS FCH[ J?R]I@S ?_@> M< ]CBJC@A ?B R?BC ?W =A> >A?JQ-

===#(4/% 2G 62"#%"#.

9IZC

`7%.#!2" 9)%.%"#%U------------------------------------------- =

9()#!%. #2 #$% 9)26%%U!"'. -------------------------- ==

62)92)(#% U!.6/2.7)% .#(#%&%"#------------- ==

!"#)2U76#!2" -------------------------------------------------------- M

.#(#%&%"#--------------------------------------------------------------- D

)%(.2". G2) U%"1!"' #$% 9%#!#!2" ---------- MD

!- #FC 9CA=A=?@ 9BC>C@A> "? 6=BJY=A 6?@WH=JA- ------------------------------------------------------ MX

(- #FC J=BJY=A> IHH I]]HS C>>C@A=IHHS AFC >IRC >CA ?W >AI@[IB[> W?B C,IHYIA=@Z 12 +'"* BCRC[=C>5 ---------------- ML

4- #FC JI>C> J=AC[ =@ AFC 9CA=A=?@ BCWHCJA @?AF=@Z R?BC AFI@ AFC I]]H=JIA=?@ ?W AFC >IRC HCZIH >AI@[IB[> A? [=WWCBC@A >CA> ?W WIJA>5 ------------------------------------------------------ MK

!!- #FC 9CA=A=?@ U?C> "?A 9BC>C@A I@ !R]?BAI@A `YC>A=?@ ?W GC[CBIH /I_ #FIA VIBBI@A> #F=> 6?YBAa> )C,=C_- -------- D;

!!!- #F=> 6I>C !> I 9??B 5CF=JHC W?B ([[BC>>=@Z AFC /CZIH .AI@[IB[> '?,CB@=@Z -2 !'"* )CRC[=C> =@ .CAAHCRC@A (ZBCCRC@A>- ---------------------------- DE

!5- #FC UCJ=>=?@ \S AFC 6?YBA ?W (]]CIH> !> 6?BBCJA ?@ AFC &CB=A>- --------------------------- DK

62"6/7.!2"----------------------------------------------------------- XX

=,#(4/% 2G (7#$2)!#!%.

9IZCN>O

A@B@>9I 296@6

6,$17"* ,- 45 85 9'"** : -%5+XKb 7-.- MLL NMKE<O ---------------------------------------------Db

;"&&$* ,- 9"//%<< -%5+;KE G-X[ b:b N6(K D<MDO-------------------------------ME+ DL

=>?&* ,- @"00 ;5+LE: 7-.- EME NMKb;O ---------------------------------------------DE

A'""3?& ,- ;$'"1BC( D&15+L:E G-X[ M<<M N6(K D<<;O -----------------------------------X<

E'?>"' B?&7 : F0<5 -%5 ,- G$&," 6$' !'%,.1#* -%5+XX; 7-.- DEM NMKLKO ---------------------------------------------Db

8?&/%& ,- -H'2*/"' -%'+5+M:< G-X[ M<MM N6(K MKKbO -------------------------------b+ DM

8%.17 ,- A%/,$&< -?'#%& 6,3$&$*#'?#$%&-%33$##""+bbM G-D[ LKL N6(E MKbKO -------------------------------------DX

D& '" 6<"&# I'?&<" !'%,.1# G$?J$/$#2 G$#$<?#$%&+bMb G-D[ MEK N6(D MKbEO -------------------------Mb+ DL+ D:

D& '" 6$'/$&" B$17"# -%33$**$%& 6&#$#'.*# G$#$<?#$%&+X<E G-X[ ;EK N6(b D<<DO -------------------------------ME+ DX

,#(4/% 2G (7#$2)!#!%.c6?@A=@YC[

9IZCN>O

D& '" K?J2 !'%,.1#* 6&#$#'.*# G$#$<?#$%&+E<b G-X[ M;X N6(X D<MXO-----------------------------+?**$3

D& '" K/."#%%#H 8"?,*"# !'%,.1#* G$?J$/$#2 G$#$<?#$%&+;:L G-X[ KX: N6(K D<MMO -------------------------------------ME

D& '" G.+'%& F?'7"#$&< : 4?/"* !'?1#$1"* G$#$<?#$%&+;EE G-X[ DM N6(M D<MDO ---------------------------------ME+ D:

D& '" !"&& -"&#'?/ B'?&*+%'#?#$%& -%5+:K; G-D[ MM<D N6(X MKEKO -----------------------------------DM

D& '" !H?'3?1".#$1?/ D&,.*#'2 6>"'?<" LH%/"*?/" !'$1" G$#$<?#$%&+:bb G-X[ DL N6(M D<<KO ---------------------ML+ M:+ M;+ Mb

D& '" !'.,"&#$?/ D&*.'?&1" -%5 63"'$1? 4?/"* !'?1#$1" G$#$<?#$%& 6<"&# 61#$%&*+MLb G-X[ DbX N6(X MKKbO -------------------------------------DM

9/$"' ,- =/0 6.#%1H"3 M%'#H 63"'$1?( D&15+;:b G-X[ L;b N6(: D<MMO-------------------------M:+ DD+ DX

F?*#"'* ,- L$/H"/3$&? F%,"/ 6<"&12( D&15+LEX G-X[ LDX N6(D D<<EO -------------------M:+ Mb+ DD+ DX

F$'0?*$H$ ,- A/""# F%'#<?<" -%'+5+ X:; G-X[ EbM N6(E D<<LO-------------------M:+ ME+ DM+ DD

F$'0?*$H$ ,- A/""# F%'#<?<" -%'+5+ L:< G-X[ EL: N6(E D<<;O-------------------------------------DD

,=#(4/% 2G (7#$2)!#!%.c6?@A=@YC[

9IZCN>O

F$'0?*$H$ ,- A/""# F%'#<?<" -%'+-+ ::M G-X[ ;bD N6(E D<<bO -------------------------------------DD

F%/*7$ ,- E/"$1H+XMb G-X[ KXE N6(K D<<XO -------------------------------------M;

M?1H*H$& ,- 6IG( GG-+;;X G-X[ M<XL N6(K D<MMO -------------------------K+ ME+ DL

M"N O%'7 ,- )""J%7 D&#"'&?#$%&?/ G#,5+K; G-X[ LL N6(D MKK;O-----------------------------------M:+ M;

!%N"// ,- E"%'<$?P!?1$0$1 -%'+5+MMK G-X[ E<X N6(b MKKEO -------------------------M:+ M;+ Mb

4$Q F"Q$1?& L%'7"'* ,- 6'$R%&? -$#'.* E'%N"'*+K<L G-D[ MX<M N6(K MKK<O ---------------------------+?**$3

S&$#", 4#?#"* ,- 6/>?'"RP4?&1H"R+:MM 7-.- X:< NMKKLO ---------------------------------------------Db

S&$#", 4#?#"* ,- @%H&*#%&+D;b 7-.- DD< NMKD:O ---------------------------------------------MX

A@B@>9I 6C9C4C@6

6?R]YACB GBIY[ I@[ (\Y>C (JA+ Mb 7-.-6- d M<X< --------------------------------------------------- X

%HCJAB?@=J 6?RRY@=JIA=?@> 9B=,IJS (JA+ Mb 7-.-6- d D:M< --------------------------------------------------- X

5=[C? 9B=,IJS 9B?ACJA=?@ (JA+ Mb 7-.-6- d DEM< -----------------------------------------X+ ;+ X<+

,==#(4/% 2G (7#$2)!#!%.c6?@A=@YC[

9IZCN>O

A@B@>9I >4I@6

GC[CBIH )YHC> ?W 6=,=H 9B?JC[YBC DX-----------------+?**$3

.Y]BCRC 6?YBA )YHC M< --------------------------------------------MX

6C9C@ 6C9C4C@6

6IH=W?B@=I 6?R]YACB 6B=RC /I_+ 6IH- 9C@- 6?[C d :<D--------------------------------------------- X

6IH=W?B@=I 6?@>YRCB /CZIH )CRC[=C> (JA+ 6IH- 6=,- 6?[C d ME:< ------------------------------------------- X

(CG@> 94CG(>?C?@6

X (H\I 6?@AC 8 $CB\CBA 4- "C_\CBZ+ "%V4%)' 2" 6/(.. (6#!2". NLAF C[- D<<DO ------------M;

(RCB=JI@ /I_ !@>A=AYAC+ 9)!"6!9/%. 2G #$% /(V 2G ('')%'(#%

/!#!'(#!2" ND<M<O -----------------------------------------------------M;

?!C>(B42C?(!

(HAF?YZF J?YJFC[ =@ ACBR> ?W J?@WH=JA> I@[ \B?I[ ]?H=JS =>>YC>+ AFC 9CA=A=?@ YHA=RIACHS >CCQ> BC,=C_ ?W I JI>CP>]CJ=W=J eYC>A=?@f _FCAFCB AFC [=>AB=JA J?YBA I\Y>C[ =A> [=>JBCA=?@ Y@[CB )YHC DXNCONDO \S I]]B?,=@Z I JHI>> IJA=?@ >CAAHCRC@A AFIA =@JHY[C> =@^Y@JA=,C BCH=CW I@[ I 12 +'"* [=>AB=\YA=?@ ?W >Y\>AI@A=IH WY@[> A? I ]B=,IJSPBCHIAC[ ?BZI@=gIA=?@+ _FCBC =A _I> Y@[=>]YAC[ AFIA I@S JI>F ]ISRC@A A? =@[=,=[YIH JHI>> RCR\CB> _?YH[ FI,C \CC@ ," 3$&$3$*+ I@[ _FCBC AFC [=>AB=JA J?YBA JIBCWYHHS C,IHYIAC[ AFC ACBR> ?W AFC 12 +'"* >ABYJAYBC A? C@>YBC AFIA =A _?YH[ WYBAFCB AFC =@ACBC>A> >?YZFA A? \C I[,I@JC[ \S AFC HI_>Y=A-

#FC 9CA=A=?@ >F?YH[ \C [C@=C[- UC>]=AC 9CA=A=?@CBa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eYC>A=?@ ?W HI_ _IBBI@A=@Z AF=> 6?YBAa> BC,=C_+ \YA BIAFCB eYIBBCH> _=AF AFC [=>AB=JA J?YBAa> ChCBJ=>C ?W [=>JBCA=?@ I> A? >]CJ=W=J WIJAYIH I>]CJA> ?W AFC >CAAHCRC@A- %,C@ _CBC AFCBC I @CC[ A? AIQC Y] AFC ZC@CBIH =>>YC ?W 12 +'"* BCRC[=C>+ AF=> JI>C => I ]??B ,CF=JHC \CJIY>C =A _I> J?@JC[C[ \CH?_ AFIA [=BCJA ]ISRC@A> A? JHI>> RCR\CB> _?YH[ \C =@WCI>=\HCi 9CA=A=?@CB [=[ @?A [=>]YAC \CW?BC AFC I]]CHHIAC J?YBA AFIA I 12 +'"*

D

BCRC[S _I> I@ I,I=HI\HC ?]A=?@ =@ AF=> JI>Ci I@[ AFC >CAAHCRC@A =@JHY[C[ =@^Y@JA=,C BCH=CW =@ I[[=A=?@ A? AFC 12 +'"* [=>AB=\YA=?@- G=@IHHS+ AFC "=@AF 6=BJY=Aa> [CJ=>=?@ IWW=BR=@Z AFC [=>AB=JA J?YBA I]]B?,IH ?W AFC >CAAHCRC@A I> jWI=B+ BCI>?@I\HC+ I@[ I[CeYIACk Y@[CB )YHC DXNCONDO _I> J?BBCJA ?@ AFC RCB=A>-

6C9C@J@!C

)C>]?@[C@A GIJC\??Q+ !@J- ?]CBIAC> I@ ?@H=@C >?J=IH @CA_?BQ AFIA IHH?_> Y>CB> A? J?@@CJA I@[ >FIBC =@W?BRIA=?@ _=AF WIR=HS I@[ WB=C@[>- #F=> JI>C =@,?H,C> GIJC\??Qa> >F?BAPH=,C[ j4CIJ?@k ]B?ZBIR+ _F=JF _I> HIY@JFC[ =@ "?,CR\CB D<<E- (> =@=A=IHHS >ABYJAYBC[+ AFC ]B?ZBIR >FIBC[ JCBAI=@ =@W?BRIA=?@ I\?YA I Y>CBa> IJA=,=A=C> ?@ AF=B[P]IBAS _C\>=AC> _=AF AFIA Y>CBa> GIJC\??Q WB=C@[>+ Y@HC>> AFC Y>CB [CJH=@C[ ]Y\H=JIA=?@ \S JH=JQ=@Z I j]?]PY]k [=IH?Z \?h- !W AFC Y>CB JH?>C[ AFC \?h ?B A??Q @? IJA=?@+ AFC =@W?BRIA=?@ _?YH[ ]?>A A? AFC Y>CBa> GIJC\??Q ]B?W=HC- 9CA- (]]- XlL-

#FC 4CIJ?@ ]B?ZBIR [BC_ =RRC[=IAC J?R]HI=@A> AFIA GIJC\??Q _I> ]Y\H=>F=@Z =@W?BRIA=?@ I\?YA Y>CB>a ?@H=@C IJA=,=A=C> _=AF?YA AFC=B IWW=BRIA=,C J?@>C@A- GIJC\??Q BC>]?@[C[ _=AF=@ I R?@AF _=AF I ]B=,IJS A??H IHH?_=@Z Y>CB> A? ?]A ?YA ?W AFC 4CIJ?@ ]B?ZBIR+ I@[ YHA=RIACHS [=>J?@A=@YC[ AFC ]B?ZBIRIHA?ZCAFCB- 9CA- (]]- L-

!@ (YZY>A D<<b+ @=@CACC@ GIJC\??Q Y>CB> W=HC[ I ]YAIA=,C JHI>> IJA=?@ =@ WC[CBIH [=>AB=JA J?YBA IZI=@>A GIJC\??Q I@[ ,IB=?Y> ?@H=@C RCBJFI@A> =@JHY[C[ =@ AFC 4CIJ?@ ]B?ZBIR- #FC J?R]HI=@A IHHCZC[ AFIA [CWC@[I@A> ,=?HIAC[ ,IB=?Y> WC[CBIH I@[ >AIAC ]B=,IJS HI_> \S ZIAFCB=@Z I@[ [=>>CR=@IA=@Z =@W?BRIA=?@

X

I\?YA Y>CB>a ?@H=@C IJA=,=A=C> _=AF?YA AFC=B J?@>C@A-M

!A >?YZFA >AIAYA?BS I@[ IJAYIH [IRIZC> I@[ CeY=AI\HC BCH=CW- 9CA- (]]- Ll:-

GIJC\??Q [C@=C[ H=I\=H=AS I@[ R?,C[ A? [=>R=>> AFC J?R]HI=@A- GIJC\??Qa> R?A=?@ I>>CBAC[ AFIA CIJF ?W ]HI=@A=WW>a HCZIH AFC?B=C> WI=HC[ A? >AIAC I JHI=R+ IR?@Z ?AFCB BCI>?@>+ \CJIY>C ]HI=@A=WW> ?WWCBC[ @? AFC?BS ?W IJAYIH [IRIZC> I@[ AFC=B JHI=R> W?B >AIAYA?BS [IRIZC> J?YH[ @?A \C IZZBCZIAC[- VF=HC AFC R?A=?@ _I> ]C@[=@Z+ AFC ]IBA=C> IAACR]AC[ A? >CAAHC AFC [=>]YAC AFB?YZF RC[=IA=?@- (WACB RI@S R?@AF> ?W _FIA AFC [=>AB=JA J?YBA JIHHC[ j]B?ABIJAC[ IBRa>PHC@ZAF @CZ?A=IA=?@> J?@[YJAC[ =@ Z??[ WI=AF I@[ WBCC WB?R J?HHY>=?@+k AFC ]IBA=C> BCIJFC[ I >CAAHCRC@A- 9CA- (]]- :El:b-

#FC >CAAHCRC@A IZBCCRC@A ]B?,=[C[ W?B JHI>> BCH=CW =@ AFC W?BR ?W I@ =@^Y@JA=?@ ACBR=@IA=@Z AFC 4CIJ?@ ]B?ZBIR I@[ I ]ISRC@A \S GIJC\??Q =@ AFC IR?Y@A ?W mK-: R=HH=?@+ I]]B?h=RIACHS mX R=HH=?@ ?W _F=JF _?YH[ \C Y>C[ A? ]IS I@S J?YBAP[=BCJAC[ IAA?B@CS>a WCC>+ I[R=@=>ABIA=,C J?>A>+ I@[ =@JC@A=,C ]ISRC@A> A? AFC JHI>> BC]BC>C@AIA=,C>- '=,C@ AFC >=gC ?W AFC JHI>>N?,CB X-; R=HH=?@ RCR\CB>O+ =A _I> IZBCC[ \S IHH ]IBA=C>cI@[ \S AFC [=>AB=JA J?YBA I@[ AFC "=@AF 6=BJY=A Y]?@ BC,=C_cAFIA I@S JI>F [=>AB=\YA=?@ A? AFC JHI>> ?W AFC BCRI=@=@Z m;-: R=HH=?@ _?YH[ FI,C =@,?H,C[ ," 3$&$3$* ]ISRC@A>- (JJ?B[=@ZHS+ AFC

M #FC J?R]HI=@A I>>CBAC[ JHI=R> Y@[CB AFC %HCJAB?@=J 6?RRY@=JIA=?@> 9B=,IJS (JA+ Mb 7-.-6- d D:M<+ AFC 6?R]YACB GBIY[ I@[ (\Y>C (JA+ Mb 7-.-6- d M<X<+ AFC 5=[C? 9B=,IJS 9B?ACJA=?@ (JA+ Mb 7-.-6- d DEM<+ AFC 6IH=W?B@=I 6?@>YRCB /CZIH )CRC[=C> (JA+ 6IH- 6=,- 6?[C d ME:<+ I@[ AFC 6IH=W?B@=I 6?R]YACB 6B=RC /I_+ 6IH- 9C@- 6?[C d :<D-

L

>CAAHCRC@A ]B?,=[C[ AFIA AFC m;-: R=HH=?@ _?YH[ \C [=>AB=\YAC[ A? I @C_ @?@P]B?W=A ?BZI@=gIA=?@ JIHHC[ AFC jU=Z=AIH #BY>A G?Y@[IA=?@k NjU#GkO- #FC =[CI ?W JBCIA=@Z AFC W?Y@[IA=?@ ?B=Z=@IAC[ WB?R AFC RC[=IA?B IWACB AFC ]IBA=C> J?YH[ @?A IZBCC Y]?@ Ch=>A=@Z ?BZI@=gIA=?@> A? BCJC=,C AFC >CAAHCRC@A WY@[>- 9CA- (]]- :l;-

#FC >AIAC[ ]YB]?>C ?W U#G+ >CA ?YA =@ AFC >CAAHCRC@A IZBCCRC@A I@[ =@ U#Ga> (BA=JHC> ?W !@J?B]?BIA=?@+ => A? jWY@[ I@[ >]?@>?B ]B?ZBIR> [C>=Z@C[ A? C[YJIAC Y>CB>+ BCZYHIA?B>+ I@[ C@ACB]B=>C> BCZIB[=@Z JB=A=JIH =>>YC> BCHIA=@Z A? ]B?ACJA=?@ ?W =[C@A=AS I@[ ]CB>?@IH =@W?BRIA=?@ ?@H=@C AFB?YZF Y>CB J?@AB?H+ I@[ AFC ]B?ACJA=?@ ?W Y>CB> WB?R ?@H=@C AFBCIA>-k 9CA- (]]- ;- #FC (BA=JHC> C>AI\H=>F I AFBCCPRCR\CB \?IB[+ AFC =@=A=IH RCR\CB> ?W _F=JF IBC NMO I [=BCJA?B ?W AFC !@W?BRIA=?@ 9B=,IJS 9B?ZBIR> IA AFC 4CBQCHCS 6C@ACB W?B /I_ 8 #CJF@?H?ZSi NDO I RCR\CB ?W AFC WC[CBIH 2@H=@C .IWCAS 8 #CJF@?H?ZS V?BQ=@Z 'B?Y]i I@[ NXO I GIJC\??Q CR]H?SCC Ch]CB=C@JC[ =@ AFC IBCI> ?W ?@H=@C ]B=,IJS I@[ [IAI >CJYB=AS- #FC >CAAHCRC@A ]B?,=[C> AFIA AFC [=BCJA?B> RY>A Y@I@=R?Y>HS I]]B?,C I ]HI@ W?B AFC ACBR I@[ >YJJC>>=?@ ?W WYAYBC ?WW=JCB> I@[ [=BCJA?B>- (@SIRC@[RC@A A? AFC \SHI_> ?B AFC (BA=JHC> IH>? BCeY=BC> AFC Y@I@=R?Y> ,?AC ?W IHH AFBCC [=BCJA?B>- UCJ=>=?@> ?@ WY@[=@Z I@[ RIAACB> ?W U#G Z?,CB@I@JC ?B ?]CBIA=?@> RY>A \C I]]B?,C[ \S I RI^?B=AScI BCeY=BCRC@A AFIA ]BC,C@A> I@S >=@ZHC [=BCJA?B WB?R Y@=HIACBIHHS I]]B?,=@Z ?B \H?JQ=@Z I ]IBA=JYHIB WY@[=@Z ]B?]?>IH- G=@IHHS+ U#Ga> (BA=JHC> \IB =A WB?R C@ZIZ=@Z =@ H=A=ZIA=?@+ H?\\S=@Z+ ?B ?AFCB ]?H=A=JIH IJA=,=AS- 9CA- (]]- ;lE-

:

#FC >CAAHCRC@A IZBCCRC@A IH>? ]B?,=[C> W?B I A_?PRCR\CB 4?IB[ ?W /CZIH ([,=>?B> A? I[,=>C I@[ R?@=A?B U#G A? C@>YBC AFIA =A IJA> J?@>=>AC@AHS _=AF =A> >AIAC[ R=>>=?@- 9HI=@A=WW>a J?Y@>CH I@[ GIJC\??Qa> J?Y@>CH >CB,C I> AFC =@=A=IH RCR\CB> ?W AF=> 4?IB[- 9CA- (]]- E- 6?@ABIBS A? AFC 9CA=A=?@a> BC]CIAC[ I>>CBA=?@ N"5<5+ 9CA- MO+ @C=AFCB AFC 4?IB[ ?W /CZIH ([,=>?B> @?B I@S ?AFCB =ACBIA=?@ ?W jAFC [CWC@[I@A I@[ JHI>> J?Y@>CHk =@ I@S _IS jJ?@AB?H>k U#G-

!@ GC\BYIBS D<M<+ W?HH?_=@Z ]BCH=R=@IBS I]]B?,IH I@[ JHI>> @?A=JC+ AFC [=>AB=JA J?YBA FCH[ I WI=B@C>> FCIB=@Z- 2@HS M> RCR\CB> ?YA ?W ?,CB X-; R=HH=?@ FI[ ?]AC[ ?YA+ I@[ W?YB RCR\CB>+ =@JHY[=@Z 9CA=A=?@CB+ W=HC[ _B=AAC@ ?\^CJA=?@>- "C=AFCB 9CA=A=?@CB @?B FCB J?Y@>CH I]]CIBC[ IA AFC FCIB=@Z+ IHAF?YZF J?Y@>CH W?B I [=WWCBC@A ?\^CJA?B+ '=@ZCB &J6IHH+ [=[ I]]CIB- (A AFC FCIB=@Z+ AFC J?YBA BCJ?Z@=gC[ =A> ?\H=ZIA=?@ A? Z=,C JH?>CB >JBYA=@S A? I >CAAHCRC@A+ >YJF I> AF=> ?@C+ BCIJFC[ \CW?BC JHI>> JCBA=W=JIA=?@- #FC J?YBA W?Y@[+ _=AF BC>]CJA A? AFC ]B?]?>C[ [=>]?>=A=?@ ?W AFC >CAAHCRC@A WY@[>+ AFIA I@S =@[=,=[YIH ]ISRC@A> A? JHI>> RCR\CB> j_?YH[ \C ," 3$&$3$* W?B CIJF JHI>> RCR\CBk I@[ AFY> _?YH[ @?A \C jI ]BIJA=JIH _IS A? ]B?JCC[-k U=>A- 6A- UQA- "?- MLM+ IA D:- 6?Y@>CH W?B AFC ?\^CJA?B J?@JYBBC[+ I@[ I[[C[ AFIA =@[=,=[YIH JI>F [=>AB=\YA=?@> A? AFC C@A=BC JHI>>_?YH[ S=CH[ ?@HS I\?YA mM-MD ]CB JHI>> RCR\CB- 4"" $,5 IA ;X-

2@ &IBJF ME+ D<M<+ AFC [=>AB=JA J?YBA =>>YC[ I@ ?B[CB I]]B?,=@Z AFC >CAAHCRC@A I> jWI=B+ BCI>?@I\HC+ I[CeYIAC I@[ ]B?]CB I@[ =@ AFC \C>A =@ACBC>A> ?W AFC .CAAHCRC@A 6HI>>-k #FC J?YBA I]]H=C[ I >CA ?W WIJA?B> [BI_@ WB?R "=@AF 6=BJY=A ]BCJC[C@A+ =@JHY[=@Z AFC IR?Y@A ?W AFC >CAAHCRC@Ai AFC >ABC@ZAF ?W AFC

;

]HI=@A=WW>a JI>Ci AFC B=>Q+ Ch]C@>C+ J?R]HCh=AS+ I@[ H=QCHS [YBIA=?@ ?W WYBAFCB H=A=ZIA=?@i I@[ AFC BCIJA=?@ ?W JHI>> RCR\CB>- 9CA- (]]- :Ll::-

#FC J?YBA W?Y@[ AFIA AFC @?,CHAS ?W ]HI=@A=WW>a ]B=,IJSPBCHIAC[ JHI=R> I@[ BCHIAC[ H=A=ZIA=?@ B=>Q>_CBC WIJA?B> >Y]]?BA=@Z AFC >CAAHCRC@A- !A @?AC[ AFIA AFC JHI=R> BI=>C[ WIJAYIH =>>YC> AFIA _?YH[ \C j,=Z?B?Y>HS [=>]YAC[+k =@JHY[=@Z AFC AS]C I@[ >YWW=J=C@JS ?W =@W?BRIA=?@ CIJF JHI>> RCR\CB BCJC=,C[ I\?YA AFC 4CIJ?@ ]B?ZBIR [YB=@Z >]CJ=W=J A=RC ]CB=?[>+ AFC @IAYBC ?W JHI>> RCR\CB>a IZBCCRC@A> _=AF GIJC\??Q+ I@[ AFC ChAC@A A? _F=JF GIJC\??Qa> IHHCZC[ ABCIARC@A ?W AFC=B =@W?BRIA=?@ _I> Y@IYAF?B=gC[- #FC J?YBA IH>? @?AC[ AFIA ]HI=@A=WW>a HCZIH AFC?B=C> _CBC j@?,CH+k _=AF jH=AAHC =@ AFC _IS ?W ]B=?B [CJ=>=?@> A? I>>=>A =@ ZIYZ=@Z AFC H=QCH=F??[ ?W >YJJC>>-k !A J=AC[ =@ ]IBA=JYHIB I >CB=C> ?W [=WW=JYHA=C> _=AF ]HI=@A=WW>a JHI=R> W?B >AIAYA?BS [IRIZC> Y@[CB AFC 5=[C? 9B=,IJS 9B?ACJA=?@ (JA Nj599(kO+ Mb 7-.-6- d DEM<+ =@JHY[=@Z AFC HIJQ ?W IYAF?B=AS >Y]]?BA=@Z IZZBCZIA=?@ ?W >AIAYA?BS [IRIZC> I_IB[>- #FC>C WIJAYIH I@[ HCZIH ]B?\HCR>+ AFC J?YBA W?Y@[+ =@JBCI>C[ AFC B=>Q+ J?R]HCh=AS+ [YBIA=?@+ I@[ H=QCHS Ch]C@>C ?W I@S WYBAFCB H=A=ZIA=?@ I@[ RI[C AFC ?YAJ?RC F=ZFHS Y@JCBAI=@- (WACB [CAI=H=@Z I >CB=C> ?W >]CJ=W=J ChIR]HC>+ AFC J?YBA W?Y@[ AFIA IHH ?W AFC>C WIJA?B>>Y]]?BAC[ jAFC WI=B@C>>+ BCI>?@I\HC@C>> I@[ I[CeYIJS ?W AFC .CAAHCRC@A-k 9CA- (]]- Lb+ :Ll:;-

!@ H=ZFA ?W AFC>C B=>Q> I@[ AFC Y@AC>AC[ @IAYBC ?W ]HI=@A=WW>a ]B=,IJS JHI=R>+ AFC J?YBA W?Y@[ AFIA AFC ]B?]?>C[ mK-: R=HH=?@ ]ISRC@A j=> >Y\>AI@A=IH I@[+ WYBAFCB+ => [=BCJAC[ A?_IB[ I ]YB]?>C JH?>CHS BCHIAC[ A? 6HI>> &CR\CB>a =@ACBC>A> =@ AF=> H=A=ZIA=?@-k #FC J?YBA [=>IZBCC[ _=AF AFC ?\^CJA?B>a ,=C_ AFIA JI>F

E

]ISRC@A> >F?YH[ \C RI[C I,I=HI\HC A? JHI>>RCR\CB>+ @?A=@Z AFIA AFC ?\^CJA?B> FI[ ?WWCBC[ @? AFC?BS ?W J?R]C@>IA=?@ ChJC]A >AIAYA?BS [IRIZC>Y@[CB AFC 599(+ _F=JF AFC J?YBA BC=ACBIAC[ _CBCj>]CJYHIA=,C IA \C>A+ Z=,C@ AFC =@FCBC@A I@[ ]IBA=JYHIB H=A=ZIA=?@ B=>Q> AFC 6HI>> _?YH[ WIJC =@ ]B?JCC[=@Z A? AB=IH-k #FC J?YBA BC=ACBIAC[ AFIA I JI>F[=>AB=\YA=?@ ?W AFC >CAAHCRC@A WY@[ A? AFC JHI>> _?YH[ BC>YHA =@ ," 3$&$3$* =@[=,=[YIH ]ISRC@A> I@[ AFIAjAFC JCBAI=@AS ?W AFC .CAAHCRC@A+ I> J?@>A=AYAC[+ ]B?,=[C> R?BC RCI@=@ZWYH BCH=CW A? AFC 6HI>>-k 9CA- (]]- :;+ :K-

#FC J?YBA IH>? I[[BC>>C[ ?\^CJA?B>a IBZYRC@A> AFIA U#G => I@ =R]B?]CB 12 +'"* BCJ=]=C@A \CJIY>C =A => @C_HS W?BRC[ I@[ ?@C ?W =A> AFBCC =@=A=IH [=BCJA?B> _?BQ> W?B GIJC\??Q- #FC J?YBA J=AC[ AFC J?@>ABI=@A> ?@ U#Ga> [CJ=>=?@RIQ=@Z ]B?JC>>c=@JHY[=@Z AFC BCeY=BCRC@A> ?W Y@I@=R=AS W?B >ABYJAYBIH JFI@ZC> I@[ I RI^?B=AS W?B WY@[=@Z [CJ=>=?@>cI@[ W?Y@[ AFIA jAFC >ABYJAYBC ?W nU#Go+ I@[ AFC =@[=,=[YIH> _F? _=HH \C =@,?H,C[ _=AF =A+ IBC >YWW=J=C@A A? C@>YBC AFIA AFC >CAAHCRC@A WY@[> _=HH \C [=>\YB>C[ =@ I RI@@CB AFIA WYBAFCB> AFC =@ACBC>A> ?W AFC 6HI>>-k 9CA- (]]- ;<l;M-

G?HH?_=@Z =A> ?B[CB I]]B?,=@Z AFC >CAAHCRC@A+ AFC [=>AB=JA J?YBA =>>YC[ I >C]IBIAC ?B[CB I_IB[=@Z IAA?B@CS>a WCC> ?W mD-X; R=HH=?@ A? JHI>> J?Y@>CH- #FC J?YBA BC^CJAC[ J?Y@>CHa> ]B?]?>IH W?B I@ I_IB[ ?W I]]B?h=RIACHS mX-ME R=HH=?@+ ?B ?@C AF=B[ ?W AFC >CAAHCRC@A IR?Y@A- 9CA- (]]- ;;l;E- 2@ &IS DE+ D<M<+ AFC [=>AB=JA J?YBA C@ACBC[ I W=@IH ^Y[ZRC@A I]]B?,=@Z AFC >CAAHCRC@A I@[ RI=@AI=@=@Z ^YB=>[=JA=?@ ?,CB =A> =R]HCRC@AIA=?@ I@[ C@W?BJCRC@A+ I> _CHH I> ?,CB AFC [=>]?>=A=?@ ?W >CAAHCRC@A WY@[>- D,5IA ;b+ EMlED-

b

9CA=A=?@CB I@[ A_? ?AFCB ?\^CJA?B> I]]CIHC[-D !@ FCB \B=CW A? AFC "=@AF 6=BJY=A+ 9CA=A=?@CB >AIAC[ AFIA >FC [=[ j@?A JFIHHC@ZC Y>IZC ?W I 12 +'"* BCRC[S A? BC>?H,C AF=> JHI>> IJA=?@+k \YA BIAFCB >?YZFA BC,=C_ ?W AFC ]IBA=JYHIB 12 +'"* [=>AB=\YA=?@ A? U#G JIHHC[ W?B \S AFC >CAAHCRC@A IZBCCRC@A- 6(K UQA- "?- MLPM+ IA DM N6I>C "?- M<PM;XKbO-

#FC "=@AF 6=BJY=A IWW=BRC[- #FC J?YBA I]]H=C[ =A> C>AI\H=>FC[ >AI@[IB[> W?B C,IHYIA=@Z JHI>> IJA=?@ >CAAHCRC@A>+ =@JHY[=@Z AF?>C =@,?H,=@Z 12 +'"*BCRC[=C>c>AI@[IB[> AFIA+ I> >CA ?YA \CH?_+ R=BB?B AF?>C =@ ?AFCB J=BJY=A>- #FC J?YBA @?AC[ AFIA AFC YHA=RIAC eYC>A=?@ W?B AFC [=>AB=JA J?YBA => _FCAFCB AFC >CAAHCRC@A =>+ =@ AFC _?B[> ?W )YHC DXNCO+ jWI=B+ BCI>?@I\HC+ I@[ I[CeYIAC+k I@[ AFIA >YJF I [CACBR=@IA=?@ _=HH @?A \C >CA I>=[C ChJC]A Y]?@ I j>AB?@Z >F?_=@Zk ?W I jJHCIB I\Y>C ?W [=>JBCA=?@-k !@ RIQ=@Z AFC WI=B@C>> [CACBR=@IA=?@+ AFC ]I@CH @?AC[+ AFC [=>AB=JA J?YBA RY>A C,IHYIAC AFC >CAAHCRC@A I> I _F?HC+ \S BCWCBC@JC A? I >CA ?W WIJA?B> [C>JB=\C[ =@ 8?&/%& ,- -H'2*/"' -%'+5+ M:< G-X[ M<MM+ M<DE N6(K MKKbO+ I@[ RY>A J?@[YJA I R?BC ChIJA=@Z BC,=C_ =W AFC >CAAHCRC@A => BCIJFC[ \CW?BC JHI>> JCBA=W=JIA=?@cI RCI>YBC [C>=Z@C[ A? C@>YBC AFIA AFC JHI>> BC]BC>C@AIA=,C> I@[ J?Y@>CH [? @?A >CJYBC I [=>]B?]?BA=?@IAC \C@CW=A IA AFC Ch]C@>C ?W I\>C@A JHI>> RCR\CB>- %R]FI>=g=@Z AF=> HI>A ]?=@A+ AFC J?YBA >AIAC[ AFIA =A j_=HH @?A IWW=BRk =W =A I]]CIB> AFIA AFC [=>AB=JA J?YBA [=[ @?A >YWW=J=C@AHS C,IHYIAC AFC >CAAHCRC@A W?B ]?>>=\HC J?HHY>=?@- 9CA- (]]- MM-

D 9CA=A=?@CB &CZI@ &IBCQ+ IH?@Z _=AF I@?AFCB ?\^CJA?B+ W=HC[ I >=@ZHC I]]CIH WB?R AFC [=>AB=JA J?YBAa> ^Y[ZRC@A- ( AF=B[ ?\^CJA?B+ '=@ZCB &J6IHH+ W=HC[ I >C]IBIAC I]]CIH- #FC I]]CIH> _CBC J?@>?H=[IAC[ IWACB \B=CW=@Z-

K

#FC "=@AF 6=BJY=A IH>? @?AC[ AFIA 12 +'"* BCRC[=C> IBC ]CBR=>>=\HC _FCBC AFC jJHI>>PIJA=?@ >CAAHCRC@A WY@[ => p@?@P[=>AB=\YAI\HC+ak $5"-+ _FCBC j]B??W ?W =@[=,=[YIH JHI=R> _?YH[ \C \YB[C@>?RC ?B [=>AB=\YA=?@ ?W [IRIZC> J?>AHS-k 9CA- (]]- MM NJ=A=@Z M?1H*H$& ,- 6IG( GG-+ ;;X G-X[ M<XL+ M<Xb N6(K D<MMO I@[ 4$Q F"Q$1?& L%'7"'* ,- 6'$R5 -$#'.* E'%N"'*+ K<L G-D[ MX<M+ MX<: N6(K MKK<OO- #FC ]I@CH Ch]HI=@C[ AFIA AFC [=>AB=JA J?YBA RY>A I>>C>> >YJF BCRC[=C> A? C@>YBC AFIA AFCS j\CIBno I >Y\>AI@A=IH @ChY> A? AFC =@ACBC>A> ?W JHI>> RCR\CB>k \S IJJ?Y@A=@Z W?B AFC @IAYBC ?W AFC ]HI=@A=WW>a JHI=R>+ AFC ?\^CJA=,C> ?W AFC Y@[CBHS=@Z >AIAYAC>+ I@[ AFC =@ACBC>A> ?W AFC >=HC@A JHI>> RCR\CB>- 9CA- (]]- MLNJ=A=@Z M?1H*H$&+ ;;X G-X[ IA M<X;O-

(]]HS=@Z AFC>C >AI@[IB[> A? AFC >CAAHCRC@A FCBC+ AFC "=@AF 6=BJY=A Y]FCH[ AFC [=>AB=JA J?YBAa> JB=A=JIHW=@[=@Z>c\?AF J?@JC[C[ \S AFC ?\^CJA?B>cAFIA I [=BCJA JI>F [=>AB=\YA=?@ A? AFC JHI>> _?YH[ \C =R]BIJA=JI\HC \CJIY>C ?W AFC ," 3$&$3$* =@[=,=[YIH IR?Y@A>+ I@[ AFIA AFC ]B?]?>C[ 12 +'"* BCRC[S \CIB> I >Y\>AI@A=IH @ChY> A? AFC =@ACBC>A> ?W JHI>> RCR\CB>- 2@ AFC HIAACB ]?=@A+ AFC J?YBA >ABC>>C[ AFIA U#Ga> [=>AB=\YA=?@ ?W >CAAHCRC@A WY@[> A? C@A=A=C> AFIA ]B?R?AC AFC JIY>C> ?W ?@H=@C ]B=,IJS I@[ >CJYB=AS j_=HH \C@CW=A I\>C@A JHI>> RCR\CB> I@[ WYBAFCB AFC ]YB]?>C> ?W AFC ]B=,IJS >AIAYAC> AFIA W?BR AFC \I>=> W?B AFC JHI>>P]HI=@A=WW>a HI_>Y=A-k #F=> WCIAYBC ?W AFC 12 +'"* I_IB[+ AFC J?YBA W?Y@[+ [=>A=@ZY=>FC[ =A WB?R ]B=?B "=@AF 6=BJY=A JI>C> [=>I]]B?,=@Z 12 +'"* I_IB[>AFIA HIJQC[ AFC BCeY=BC[ @ChY> A? JHI>> =@ACBC>A>- #FC "=@AF 6=BJY=A IH>? IZBCC[ _=AF AFC [=>AB=JA J?YBA AFIA AFC ]B?,=>=?@> =@ AFC >CAAHCRC@A I@[ U#Ga> (BA=JHC>

M<

[=BCJA=@Z =A> ZBI@APRIQ=@Z IJA=,=A=C> >IA=>W=C[ I@S >ABYJAYBIH J?@JCB@>- 9CA- (]]- MLlME-

#FC "=@AF 6=BJY=A [=>IZBCC[ _=AF AFC ?\^CJA?B>a IBZYRC@A AFIA AFC [=>AB=JA J?YBA >F?YH[ FI,C I>>=Z@C[ I >]CJ=W=J R?@CAIBS ,IHYC A? AFC JHI>> RCR\CB>a >AIAYA?BS JHI=R> I@[ J?R]IBC[ AFIA ,IHYC A? AFC mK-: R=HH=?@ >CAAHCRC@A I_IB[- #FC ]I@CH @?AC[ AFIA AFC [=>AB=JA J?YBA [=[ I>>C>> AFC >ABC@ZAF ?W AFC ]HI=@A=WW>a JHI=R> I> ]IBA ?W C,IHYIA=@Z AFC >CAAHCRC@A+ \YA AFIA =A _I> @?A BCeY=BC[ A? RIQC jI >]CJ=W=J W=@[=@Z ?W WIJA I> A? AFC ]?AC@A=IH BCJ?,CBS W?B CIJF ?W AFC ]HI=@A=WW>a JIY>C> ?W IJA=?@-k #FC "=@AF 6=BJY=A W?Y@[ AFIA AFC BCJ?B[ jJ?@,=@J=@ZHS C>AI\H=>FCn[ok AFIA AFC [=>AB=JA J?YBA RCI@=@ZWYHHS IJJ?Y@AC[ W?B AFC ]?AC@A=IH ,IHYC ?W JHI>> RCR\CB>a JHI=R>+ =@JHY[=@Z \S >]CJ=W=JIHHS C,IHYIA=@Z AFC HIJQ ?W IYAF?B=AS W?B IZZBCZIA=@Z >AIAYA?BS [IRIZC> I_IB[> Y@[CB AFC 599( I@[ J?@JHY[=@Z AFIA AFC ]B?>]CJA> W?B AF?>C JHI=R> _CBC jeYC>A=?@I\HC-k #FC "=@AF 6=BJY=A J?@JHY[C[ AFIA AFC [=>AB=JA J?YBA [=[ @?A I\Y>C =A> [=>JBCA=?@ =@ W=@[=@Z AFC mK-: R=HH=?@ >CAAHCRC@A IR?Y@A j>Y\>AI@A=IHk =@ BCHIA=?@ A? I@S ]?AC@A=IH JHI=R>- 9CA- (]]- MKPDM+ DX-

#FC "=@AF 6=BJY=A IH>? W?Y@[ AFIA AFC [=>AB=JA J?YBA ]B?]CBHS >JBYA=@=gC[ AFC >CAAHCRC@A W?B ]?>>=\HC J?HHY>=?@+ W?HH?_=@Z AFC BYHC ?W jFC=ZFAC@C[ BC,=C_k W?B ]BCPJCBA=W=JIA=?@ >CAAHCRC@A>- !A ]?=@AC[ A? AFC >=gC ?W GIJC\??Qa> mK-: R=HH=?@ ]ISRC@AcI@ IR?Y@A @?A >YZZC>A=,C ?W J?HHY>=?@cI@[ A? AFC WIJA AFIA AFC JHI>> BCJC=,C[ @?A=JC I@[ I JFI@JC A? ?]A ?YA- #FC J?YBA IH>? JBC[=AC[ AFC [=>AB=JA J?YBAa> W=@[=@Z AFIA AFC >CAAHCRC@A _I> BCIJFC[ jpIWACB =@AC@>C I@[ ]B?ABIJAC[ IBRa>PHC@ZAF @CZ?A=IA=?@> J?@[YJAC[ =@ Z??[ WI=AF I@[ WBCC WB?R J?HHY>=?@-ak #FC J?YBA J?@JHY[C[ AFIA AFC [=>AB=JA J?YBAa> JIBCWYH WIJAYIH BC,=C_ ?W AFC F=>A?BS

MM

I@[ >ABYJAYBC ?W AFC >CAAHCRC@A C@>YBC[ AFIA jJHI>> BC]BC>C@AIA=,C> I@[ AFC=B J?Y@>CH [=[ @?A AFB?_ I\>C@A JHI>> RCR\CB> Y@[CB AFC ]B?,CB\=IH \Y> A? >CJYBC I [=>]B?]?BA=?@IAC \C@CW=A W?B AFCR>CH,C>-k 9CA- (]]- DXlDL-

G=@IHHS+ AFC "=@AF 6=BJY=A BC^CJAC[ AFC ?\^CJA?B>a JHI=R AFIA AFC =@^Y@JA=,C BCH=CW ]B?,=[C[ Y@[CB AFC >CAAHCRC@A IZBCCRC@AcAFC ]CBRI@C@A ACBR=@IA=?@ ?W AFC 4CIJ?@ ]B?ZBIRc_I> j=HHY>?BSk \CJIY>C GIJC\??Q IHBCI[S FI[ JCI>C[ AFC ]B?ZBIR+ @?A=@Z AFIA+ I\>C@A AFC >CAAHCRC@A+ GIJC\??Q J?YH[ BC,=,C AFC ]B?ZBIR IA I@S A=RC- 9CA- (]]- DLlD:-

3Y[ZC *HC=@WCH[ [=>>C@AC[+ AIQ=@Z =>>YC _=AF AFC >CAAHCRC@A IR?Y@A I@[ AFC 12 +'"* [=>AB=\YA=?@ A? U#G I@[ I>>CBA=@Z AFIA AFC ]I@CH [C]IBAC[ WB?R I >CB=C> ?W "=@AF 6=BJY=A JI>C> =@ _F=JF AFC J?YBA[=>I]]B?,C[ 12 +'"* I_IB[>- 9CA- (]]- XElL;-

#FC ]I@CH [C@=C[ BCFCIB=@Z I@[ AFC J?YBA ?W I]]CIH> [C@=C[ BCFCIB=@Z C@ \I@J- 3Y[ZC &=HI@ .R=AF [=>>C@AC[ WB?R AFC HIAACB [CJ=>=?@+ ^?=@C[ \S W=,C ?AFCB ^Y[ZC>- #FC [=>>C@A A??Q =>>YC _=AF AFC Y>C ?W I @C_ ?BZI@=gIA=?@+ BIAFCB AFI@ I@ Ch=>A=@Z JFIB=AS+ I@[ J?@AC@[C[ AFIA AFC 12 +'"* BCRC[S IA =>>YC FCBC [=[ @?A J?R]HS _=AF "=@AF 6=BJY=A ]BCJC[C@A \CJIY>C AFCBC _I> I@ =@>YWW=J=C@A @ChY> \CA_CC@ AFC ]B?]?>C[ Y>C ?W WY@[> I@[ AFC =@ACBC>A> ?W JHI>> RCR\CB>- #FC [=>>C@A [=[ @?A ?\^CJA A? AFC IR?Y@A ?W AFC >CAAHCRC@A ?B AFC J?@JC]A ?W I 12 +'"* BCRC[S I> ]IBA ?W >YJF I >CAAHCRC@A- 9CA- (]]- E:lb<-

2@C ?W AFC W?YB ?\^CJA?B>+ &CZI@ &IBCQ+ W=HC[ AF=> ]CA=A=?@ W?B JCBA=?BIB= ?@ 3YHS D;+ D<MX-

MD

>@96(!6 A(> B@!K?!H CG@ *@C?C?(!

#FC 9CA=A=?@ >CCQ> BC,=C_ ?W I JI>CP>]CJ=W=J [CJ=>=?@ AFIA I]]H=C> >CAAHC[ HI_ A? AFC Y@=eYC WIJA> ?W I ]IBA=JYHIB JI>C+ I@[ => J?BBCJA ?@ AFC RCB=A>-

#FCBC => @? J=BJY=A J?@WH=JA I> A? AFC >AI@[IB[> A? \C I]]H=C[ A? JHI>> IJA=?@ >CAAHCRC@A>+ =@JHY[=@Z AF?>C =@,?H,=@Z I 12 +'"* ]ISRC@A =@ H=CY ?W I ," 3$&$3$* JI>F [=>AB=\YA=?@ A? JHI>> RCR\CB>- %,CBS J=BJY=A A? I[[BC>> AFC =>>YC FI> FCH[ AFIA [=>AB=JA J?YBA> RIS I]]B?,C 12 +'"* >CAAHCRC@A> _FCBC =@[=,=[YIH [=>AB=\YA=?@> _?YH[ \C CJ?@?R=JIHHS =R]BIJA=JI\HC I@[ _FCBC AFCBC => I JH?>C @ChY> \CA_CC@ AFC 12 +'"* BCRC[S I@[ AFC =@ACBC>A> ?W ]YAIA=,C JHI>> RCR\CB>- 6?YBA> FI,C BCJ?Z@=gC[ AFIA AFC Y>C ?W I 12 +'"* I_IB[ Y@[CB AFC>C J=BJYR>AI@JC> >CB,C> AFC ]?H=J=C> WI,?B=@Z >CAAHCRC@A I@[ \C@CW=A> AFC JHI>>- #FCS IH>? FI,C BCJ?Z@=gC[ AFC @CC[ A? >JBYA=@=gC >YJF >CAAHCRC@A> A? C@>YBC AFIA AFCS IBC WI=B A? JHI>> RCR\CB> I@[ AFIA AFCBC IBC @? =@[=J=I ?W J?HHY>=?@- 4?AF AFC [=>AB=JA J?YBA I@[ AFC "=@AF 6=BJY=A W?HH?_C[ AFC>C C>AI\H=>FC[ >AI@[IB[> =@ C,IHYIA=@Z AFC ]B?]?>C[ >CAAHCRC@A FCBC-

#FC 9CA=A=?@ AB=C> A? RI@YWIJAYBC I J?@WH=JA \S J=A=@Z JI>C> _FCBC ?AFCB J=BJY=A> FI,C [=>IHH?_C[ 12 +'"* I_IB[>+ \YA @?@C ?W AFC>C JI>C> I]]H=C[ I [=WWCBC@A HCZIH >AI@[IB[i AFCS RCBCHS BCIJFC[ [=WWCBC@A BC>YHA> \I>C[ ?@ [=WWCBC@A >CA> ?W WIJA>- #F=> => C,=[C@JC[ \S AFC WIJA AFIA AFC "=@AF 6=BJY=A =A>CHW FI> >ABYJQ [?_@ 12 +'"* I_IB[> AFIA [=[ @?A RCCA AFC C>AI\H=>FC[ >AI@[IB[>- !@ AFC C@[+ _FIA AFC 9CA=A=?@ ?WWCB> => I@ IBZYRC@Ac[BI_@ WB?R AFC [=>>C@A> \CH?_cAFIA AFC "=@AF 6=BJY=A ]I@CH R=>I]]H=C[ =A> ?_@ ]B=?B ]BCJC[C@A- 4YA AFC JHI=RC[ R=>I]]H=JIA=?@

MX

?W I ]B?]CBHS >AIAC[ BYHC ?W HI_ [?C> @?A _IBBI@A BC,=C_ \S AF=> 6?YBA- .Y]- 6A- )- MCP>]CJ=W=J ChIR=@IA=?@ ?W _FCAFCB AFC [=>AB=JA J?YBA J?BBCJAHS I]]H=C[ >CAAHC[ HCZIH >AI@[IB[> A? AFC WIJA> ?W AF=> JI>C+ =@JHY[=@Z =A> C,IHYIA=?@ ?W ]HI=@A=WW>a @?,CH I@[ Y@AC>AC[ ]B=,IJS JHI=R>+ AFC [=WW=JYHA=C> _=AF ]HI=@A=WW>a JHI=R> W?B >AIAYA?BS [IRIZC>+ AFC >]CJ=W=J IR?Y@A ?W AFC >CAAHCRC@A WY@[+ I@[ AFC @IAYBC I@[>ABYJAYBC ?W AFC C@A=AS [C>=Z@IAC[ A? BCJC=,C AFC >CAAHCRC@A WY@[>- (@S >YJF =@eY=BS _?YH[ \C WYBAFCB J?R]H=JIAC[ \S 9CA=A=?@CBa> WI=HYBC A? ]BC>CB,C AFC ]B=@J=]IH IBZYRC@A> AFIA >FC @?_ ]BC>C@A>-

G=@IHHS+ AFC [CJ=>=?@ \CH?_ _I> J?BBCJA- 2\^CJA?B> J?@JC[C[ AFIA =@[=,=[YIH [=>AB=\YA=?@> ?W AFC >CAAHCRC@A IR?Y@A _?YH[ \C =@WCI>=\HC+ I@[ AFC \IBZI=@C[PW?B ACBR> ?W AFC >CAAHCRC@A IZBCCRC@A C@>YBC[ \?AF AFIA AFC RYHA=PR=HH=?@ [?HHIB 12 +'"* [=>AB=\YA=?@ _?YH[ \C >]C@A ?@ C[YJIA=?@IH ]B?ZBIR> A=C[ A? AFC =@ACBC>A> ?W AFC JHI>>+ I@[ AFIA U#G J?YH[ @?A \C J?@AB?HHC[ \S GIJC\??Q- '=,C@ AFC>C I@[ ?AFCB J?@>=[CBIA=?@>+ =@JHY[=@Z AFC >]CJYHIA=,C @IAYBC ?W ]HI=@A=WW>a JHI=R>+ AFC [=>AB=JA J?YBA IJAC[ _=AF=@ =A> [=>JBCA=?@ =@ W=@[=@Z AFC >CAAHCRC@A jWI=B+ BCI>?@I\HC+ I@[ I[CeYIAC-k

?# C3+ *+,-,-") */+7+),7 !" 2-/<8-, 2").;-<,#

#FC 9CA=A=?@ ]YB]?BA> A? [C>JB=\C I >CB=C> ?W jWY@[IRC@AIHk J?@WH=JA> \CA_CC@ AFC "=@AF 6=BJY=A I@[ ?AFCB J?YBA> ?W I]]CIH> ?@ AFC >Y\^CJA ?W 12 +'"* BCRC[=C> =@ AFC JHI>> IJA=?@ >CAAHCRC@A J?@AChA- 9CA- MblDK- 4YA AFCBC IBC @? >YJF J?@WH=JA>cI> J?@W=BRC[ \S AFC WIJA AFIA @? J=BJY=A J?YBA FI> >YZZC>AC[

ML

[=>IZBCCRC@A> ?@ I@S ?W AFC BCHC,I@A =>>YC>- 2@ AFC J?@ABIBS+ AFC \?[S ?W WC[CBIH I]]CHHIAC [CJ=>=?@> I[[BC>>=@Z 12 +'"* BCRC[=C> Y>C[ =@ JHI>> IJA=?@ >CAAHCRC@A> => BCRIBQI\HS Y@=W?BRf AFC J=BJY=A> I]]HS C>>C@A=IHHS AFC >IRC HCZIH >AI@[IB[> A? [CACBR=@C _FC@ 12 +'"* BCRC[=C> IBC ]CBR=>>=\HCi AFCS =[C@A=WSAFC >IRC >CA> ?W J?@JCB@> I\?YA 12 +'"* BCRC[=C>+ =@JHY[=@Z AFC B=>Q ?W J?HHY>=?@ \CA_CC@ [CWC@[I@A> I@[ JHI>> J?Y@>CHi I@[ AFCS CR]H?S AFC >IRC AS]C> ?W >IWCZYIB[> A? I[[BC>> AF?>C J?@JCB@>- #FC "=@AF 6=BJY=A @?A ?@HS FI> W?HH?_C[ AFC>C >AI@[IB[>+ \YA ?WAC@ FI> AIQC@ I HCI[ B?HC =@ [C,CH?]=@Z AFCRc=@JHY[=@Z \S >AB=Q=@Z [?_@ 12 +'"* I_IB[> AFIA =@>YWW=J=C@AHS ]B?ACJA AFC =@ACBC>A> ?W JHI>> RCR\CB>- #FC [CJ=>=?@ \CH?_ I[FCBC> A? AF=> J?RR?@ I]]B?IJF+ I@[ JBCIAC> @? J=BJY=A J?@WH=JA-

9# C3+ <-/<8-,7 0;; 0::;L +77+),-0;;L ,3+ 70M+ 7+, ". 7,0)50/57 ."/ +N0;80,-)O !" #$%& /+M+5-+7'

(HH ?W AFC J=BJY=A> A? I[[BC>> AFC =>>YC FI,C FCH[ AFIA 12 +'"* BCRC[=C>c>YJF I> I [=>AB=\YA=?@ ?W WY@[> A? I AF=B[ ]IBAS JFIB=AS IH=Z@C[ _=AF AFC =@ACBC>A> ?W AFC JHI>>cRIS \C Y>C[ =@ AFC JHI>> IJA=?@ J?@AChA =@ I]]B?]B=IAC J=BJYR>AI@JC>- 4""+ "5<5+ D& '" K?J2 !'%,.1#* 6&#$#'.*# G$#$<5+ E ?W I]]CIH> =@ F?H[=@Z AFIA I [=>AB=JA J?YBA [?C> @?A I\Y>C =A> [=>JBCA=?@ \S I]]B?,=@Z I JHI>> IJA=?@ >CAAHCRC@A IZBCCRC@A AFIA =@JHY[C> I 12 +'"* J?R]?@C@AkOi D& '" !H?'3?1".#$1?/ D&,.*#'2 6>"'?<" LH%/"*?/" !'$1" G$#$<5+ :bb G-X[ DL+ XX N6(M D<<KO Nj!@ JHI>> IJA=?@>+ J?YBA> FI,C I]]B?,C[ JBCIA=@Z 12 +'"* WY@[>+ A? \C Y>C[ W?B I JFIB=AI\HC ]YB]?>C BCHIAC[ A? AFC JHI>> ]HI=@A=WW>a =@^YBSkO-

M:

#FC R?>A J?RR?@ J=BJYR>AI@JC => _F=JF J?YBA> FI,C IHH?_C[ 12 +'"* BCRC[=C> => _FCBC I JI>F [=>AB=\YA=?@ ?W IHH ?B ]IBA ?W I >CAAHCRC@A WY@[ _?YH[ @?A \C WCI>=\HCcC=AFCB \CJIY>C JHI>> RCR\CB> JI@@?A \C =[C@A=W=C[+ ?B \CJIY>C AFC IR?Y@A> IA =>>YC _?YH[ BC>YHA =@ I @CZH=Z=\HC ]ISRC@A ]CB JHI>> RCR\CB- !@ >YJF JI>C>+ AFC J=BJY=A> Y@=W?BRHS FI,C FCH[ AFIA AFC ]IBA=C> RIS [=BCJA AFC [=>AB=\YA=?@ A? I AF=B[ ]IBAS JFIB=AS IH=Z@C[ _=AF AFC =@ACBC>A> ?W AFC >CAAHCRC@A JHI>>- 4""+ "5<5+ K?J2 !'%,.1#*+ EAB=\YA=?@> IBC R?>A I]]B?]B=IAC _FCBC WYBAFCB =@[=,=[YIH [=>AB=\YA=?@> IBC CJ?@?R=JIHHS =@WCI>=\HCkOi 9/$"' ,-=/0 6.#%1H"3 M5 635( D&15+ ;:b G-X[ L;b+ LE: 8 @-M: N6(: D<MMO N12 +'"* I_IB[> IBC I]]B?]B=IAC j_FC@ [=BCJA [=>AB=\YA=?@> A? JHI>> RCR\CB> IBC @?A WCI>=\HCk >YJF I> _FCBC AFC jRIBZ=@IH J?>A ?W RIQ=@Z I@ I[[=A=?@IH ]B? BIAI [=>AB=\YA=?@ A? AFC JHI>> RCR\CB> ChJCC[> AFC IR?Y@A I,I=HI\HC W?B [=>AB=\YA=?@kOi !H?'3?1".#$1?/ D&,.*#'2+ :bb G-X[ IA XL N12 +'"*BCRC[=C> RIS \C I]]B?]B=IAC j_FC@ =A => CJ?@?R=JIHHS =@WCI>=\HC A? [=>AB=\YAC R?@CS A? JHI>> RCR\CB>kOiF$'0?*$H$ ,- A/""# F%'#<5 -%'+5+ X:; G-X[ EbM+ EbL N6(E D<<LO NBC^CJA=@Z 12 +'"* [=>AB=\YA=?@ _FCBC jAFCBC _?YH[ \C @? BCI>?@ W?B AF=@Q=@Z [=>AB=\YA=?@ A? AFC JHI>> RCR\CB> =@WCI>=\HCkOi F?*#"'* ,-L$/H"/3$&? F%,"/ 6<"&12( D&15+ LEX G-X[ LDX+ LX; N6(D D<<EO N12 +'"* BCRC[S I,I=HI\HC =@ jJ=BJYR>AI@JC> =@ _F=JF [=BCJA [=>AB=\YA=?@ A? =@[=,=[YIH JHI>> RCR\CB> => @?A CJ?@?R=JIHHS WCI>=\HCkOi !%N"// ,- E"%'<$?P!?1$0$1 -%'+5+ MMK G-X[ E<X+ E<; N6(b MKKEO NF?H[=@Z AFIA I j12 +'"*[=>AB=\YA=?@ => ]?AC@A=IHHS I]]B?]B=IACk _FCBC j=A _?YH[ \C ChABCRCHS [=WW=JYHA A? [=>AB=\YAC AFC WY@[> ]B? BIAIkOi M"N O%'7 ,- )""J%7 D&#T/ G#,5+ K; G-X[ LL+

M;

LK N6(D MKK;O NI]]B?,=@Z 12 +'"* [=>AB=\YA=?@ _FCBC j=R]BIJA=JIH=AS ?W IAACR]A=@Z A? [=>AB=\YAC AFC >CAAHCRC@A ]B?JCC[> IR?@Z AFC RYHA=AY[C ?W Y@=[C@A=W=C[ ]?>>=\HC JHI=RI@A> => ?\,=?Y>k I@[ j[=>AB=\YA=?@ p_?YH[ \C J?@>YRC[ =@ AFC J?>A> ?W =A> ?_@ I[R=@=>ABIA=?@akOi ?11%', (RCB=JI@ /I_ !@>A=AYAC+ 9)!"6!9/%. 2G #$% /(V 2G ('')%'(#%

/!#!'(#!2" d X-<E JRA- \ ND<M<O-

#FC AFC?BS ?W 12 +'"* I_IB[> =@ AF=> J?@AChA => AFIA+ BIAFCB AFI@ Y@[CBAIQC I@ I[R=@=>ABIA=,CHSJ?>AHS JHI>> [=>AB=\YA=?@ AFIA _?YH[ S=CH[ I @CZH=Z=\HC ]ISRC@A W?B CIJF JHI>> RCR\CB+ AFC >CAAHCRC@A WY@[> J?YH[ \CAACB \C ]YA A? I JIY>C NAFC >?PJIHHC[ j@ChA \C>Ak Y>CO AFIA _?YH[ I[,I@JC AFC JHI>> RCR\CB>a =@ACBC>A>- 4"" K?J2 !'%,.1#*+ E"''./", %& %#H"' <'%.&,* J2 ;.7"* ,- L?/PF?'# 4#%'"*( D&15+ ;<X G-X[ :EM N6(K D<M<Oi !%N"//+ MMK G-X[ IA E<;i 4$Q F"Q$1?& L%'7"'*+ K<L G-D[ IA MX<:+ MX<E- #FC J?YBA> ?W I]]CIH> IH>? FI,C BCJ?Z@=gC[ AFIA+ \S WIJ=H=AIA=@Z >CAAHCRC@A =@ JI>C> _FCBC I [=BCJA [=>AB=\YA=?@ _?YH[ \C =@WCI>=\HC+ 12 +'"* BCRC[=C> I,?=[ @CC[HC>> H=A=ZIA=?@ I@[ >CB,C AFC ?\^CJA=,C> ?W \C@CW=AA=@Z AFC JHI>>+ IHH?_=@Z IJJC>> A? ^Y[=J=IH BCH=CW W?B >RIHH JHI=R>+ I@[ ]B?,=[=@Z [CACBBC@JC- 4"" K?J2 !'%,.1#*+ E<b G-X[ IA MEDi !H?'3?1".#$1?/ D&,.*#'2+ :bb G-X[ IA XXlXLf *"" <"&"'?//2 X (H\I 6?@AC 8 $CB\CBA 4- "C_\CBZ+ "%V4%)' 2" 6/(.. (6#!2". d M<fM: NLAF C[- D<<DO-

VF=HC IJQ@?_HC[Z=@Z AFC YA=H=AS ?W AFC 12 +'"*[C,=JC =@ AFC>C J=BJYR>AI@JC>+ AFC J=BJY=A> IH>? Y@=W?BRHS FI,C BCJ?Z@=gC[cI@[ ZYIB[C[ IZI=@>AcAFC ]?>>=\=H=AS AFIA 12 +'"* BCRC[=C> R=ZFA \C

ME

R=>Y>C[- #FC "=@AF 6=BJY=A FI> AIQC@ I HCI[ B?HC ?@ AF=> ]?=@A+ @?A=@Z AFC j=@FCBC@A B=>Qk AFIA jJHI>> J?Y@>CH RIS J?HHY[C _=AF AFC [CWC@[I@A>+ AIJ=AHS BC[YJ=@Z AFC ?,CBIHH >CAAHCRC@A =@ BCAYB@ W?B I F=ZFCB IAA?B@CS>a WCC-k D& '" K/."#%%#H 8"?,*"# !'%,*5 G$?J5G$#$<5+ ;:L G-X[ KX:+ KL; N6(K D<MMOi *"" ?/*% ;"&&$*,- 9"//%<< -%5+ ;KE G-X[ b:b+ b;b N6(K D<MDOi M?1H*H$&+ ;;X G-X[ IA M<XKlL<- G?B AF=> BCI>?@+ =@ AFC "=@AF 6=BJY=A I@[ CH>C_FCBC+ [=>AB=JA J?YBA> IBC =@>ABYJAC[ A? BC^CJA >CAAHCRC@A> AFIA IBC >YZZC>A=,C ?W J?HHY>=?@- 4"" K/."#%%#H+ ;:L G-X[ IA KL;lLE N,IJIA=@Z I]]B?,IH ?W >CAAHCRC@A =@ JI>C _=AF j_IB@=@Z >=Z@>k ?W J?HHY>=?@Oi F$'0?*$H$+ X:; G-X[ IA Eb: N\CJIY>C JHI>> IJA=?@> IBC jB=WC _=AF ]?AC@A=IH J?@WH=JA>+k [=>AB=JA J?YBA> RY>A >JBYA=@=gC I ]B?]?>C[ >CAAHCRC@A A? C@>YBC AFIA JHI>> J?Y@>CH IBC IJA=@Z jI> F?@C>A W=[YJ=IB=C> W?B AFC JHI>> I> I _F?HCkOi K?J2 !'%,.1#*+ EIRCO-

#FC J=BJY=A> IH>? FI,C Y@=W?BRHS BCeY=BC[ I @ChY> \CA_CC@ AFC ]B?]?>C[ 12 +'"* BCRC[S I@[ AFC =@ACBC>A> ?W AFC JHI>>+ =@ ?B[CB A? C@>YBC AFIA AFC JHI>> BCJC=,C> >?RC W?BR ?W \C@CW=A W?B AFC=B JHI=R>- 4"" K?J2 !'%,.1#*+ E ZC@CBIHHS BCeY=BC AFC ]IBA=C> A? =[C@A=WS pI BCJ=]=C@A _F?>C =@ACBC>A> BCI>?@I\HS I]]B?h=RIAC AF?>C \C=@Z ]YB>YC[ \S AFC JHI>>akOi D& '" G.+'%& F7#<5 : 4?/"* !'?1#$1"* G$#$<5+ ;EE G-X[ DM+ XDlXX N6(M D<MDO N12 +'"* BCJ=]=C@A> RY>A \C AF?>C j_F?>C =@ACBC>A> BCI>?@I\HS I]]B?h=RIAC AF?>C \C=@Z ]YB>YC[ \S AFC JHI>>kOi M?1H*H$&+ ;;X G-X[ IA M<X; N12 +'"* BCRC[S jRY>A IJJ?Y@A W?B AFC @IAYBC ?W AFC ]HI=@A=WW>a HI_>Y=A+ AFC ?\^CJA=,C> ?W AFC Y@[CBHS=@Z >AIAYAC>+ I@[ AFC =@ACBC>A> ?W AFC >=HC@A JHI>> RCR\CB>kOi D& '" 6$'/$&" B$17"# -%33T& 6&#$#'.*# G$#$<5+ X<E G-X[ ;EK+ ;bMlbD

Mb

N6(b D<<DO NBCeY=B=@Z J?@@CJA=?@ \CA_CC@ 12 +'"* [=>AB=\YA=?@ jI@[ AFC >Y\^CJA RIAACB ?W AF=> JHI>> IJA=?@kOi !%N"//+ MMK G-X[ IA E<E NI]]B?,=@Z 12 +'"* >JF?HIB>F=] BCRC[S AFIA _?YH[ CeYIAC _=AF ?\^CJA=,C> ?W JHI>> RCR\CB>Oi 4$Q F"Q$1?& L%'7"'*+ K<L G-D[ IA MX=@Z _FCBC 12 +'"* BCRC[S \C@CW=AC[ I ZB?Y] jWIB A?? BCR?AC WB?R AFC ]HI=@A=WW JHI>>kOi D& '" 6<"&# I'?&<" !'%,5 G$?J5 G$#$<5+ bMb G-D[ MEK+ MbLN6(D MKbEO NI]]B?,=@Z 12 +'"* [=>AB=\YA=?@ AFIA _?YH[ j\C@CW=A AFC C@A=BC JHI>>kO- 6?YBA> IH>? FI,C Z=,C@ JH?>CB >JBYA=@S A? 12 +'"* [=>AB=\YA=?@> Y@=HIACBIHHS [=BCJAC[ \S AFC [=>AB=JA J?YBAcI> [=>A=@ZY=>FC[ WB?R ]ISRC@A>+ >YJF I> AFC ]BC>C@A ?@C+ AFIA IBC [C>=Z@IAC[ \S AFC ]IBA=C> I> ]IBA ?W I >CAAHCRC@A- 4"" !H?'3?1".#$1?/ D&,.*#'2+ :bb G-X[ IA XL NJ?HHCJA=@Z IYAF?B=A=C>O-

.=Z@=W=JI@AHS+ @?@C ?W J?YBA> ?W I]]CIH> FI> @?AC[ I J=BJY=A >]H=A ?@ I@S ?W AFC>C HCZIH =>>YC>- #? AFC J?@ABIBS+ AFCS FI,C =@[=JIAC[ \B?I[ IZBCCRC@A _=AFCIJF ?AFCB ?@ AFC I]]H=JI\HC HCZIH >AI@[IB[>- 4""+ "5<5+ F?*#"'*+ LEX G-X[ IA LX; N.CJ?@[ 6=BJY=A [CJ=>=?@ J=A=@Z _=AF I]]B?,IH AFC "=@AF 6=BJY=Aa> ?\>CB,IA=?@ =@ 4$Q F"Q$1?& L%'7"'* AFIA jnWoC[CBIH J?YBA> FI,C WBCeYC@AHS I]]B?,C[ nAFC 6S 9BC>o BCRC[S =@ AFC >CAAHCRC@A ?W JHI>> IJA=?@> _FCBC AFC ]B??W ?W =@[=,=[YIH JHI=R> _?YH[ \C \YB[C@>?RC ?B[=>AB=\YA=?@ ?W [IRIZC> J?>AHSkO- !@[CC[+ AFC #F=B[ 6=BJY=Aa> ?]=@=?@ =@ K?J2 !'%,.1#*+ Y]?@ _F=JF AFC 9CA=A=?@ ]B=RIB=HS BCH=C> =@ I>>CBA=@Z [=,=>=?@> IR?@Z AFC J=BJY=A>+ J=AC> AFC "=@AF 6=BJY=Aa> [CJ=>=?@ \CH?_ _=AF I]]B?,IH _=AF BC>]CJA A? =A> 12 +'"* F?H[=@Z- EC@A JI>C+ AFC "=@AF 6=BJY=A W?HH?_C[ AFC>C >CAAHC[ >AI@[IB[>- !A I]]B?,C[ AFC 12 +'"*

MK

BCRC[S ?@HS IWACB Y]F?H[=@Z AFC [=>AB=JA J?YBAa> W=@[=@Z+ J?@JC[C[ \S AFC ?\^CJA?B>+ AFIA =@[=,=[YIH [=>AB=\YA=?@> _CBC =@WCI>=\HC+ I@[ ?@HS IWACB J?@JHY[=@Z AFIA AFC [=>AB=\YA=?@ A? U#G j\CIB> I [=BCJA I@[ >Y\>AI@A=IH @ChY> A? AFC =@ACBC>A> ?W I\>C@A JHI>> RCR\CB> I@[ AFY> ]B?]CBHS ]B?,=[C> W?B AFC p@ChA \C>A [=>AB=\YA=?@a A? AFC JHI>>-k 9CA- (]]- M:-

=# C3+ <07+7 <-,+5 -) ,3+ *+,-,-") /+.;+<, )",3-)O M"/+ ,30) ,3+ 0::;-<0,-") ". ,3+ 70M+ ;+O0; 7,0)50/57 ," 5-..+/+), 7+,7 ". .0<,7'

M- #FC 9CA=A=?@ => =@J?BBCJA AFIA AFCBC => I J=BJY=A J?@WH=JA \CJIY>C ?AFCB J=BJY=A> FI,C BC^CJAC[ 12 +'"* BCRC[=C> ]YB]?BAC[HS j>=R=HIBnok A? AFC ?@C IA =>>YC FCBC- 9CA- M+ MKlD:- #FC J=AC[ JI>C> IHH I]]HS AFC >IRC HCZIH >AI@[IB[>+ I@[ @?@C J?@AI=@> I@S >AIACRC@A ?W HI_ AFIA J?@WH=JA> _=AF AFC [CJ=>=?@ \CH?_- .?RC J?YBA>+ =@JHY[=@Z AFC "=@AF 6=BJY=A+ FI,C >ABYJQ [?_@ >CAAHCRC@A> AFIA =@JHY[C[ 12 +'"* BCRC[=C>- 4YA AFCS FI,C [?@C >? ?@HS \CJIY>C AFC ]IBA=JYHIB BCRC[=C>WI=HC[ A? >IA=>WS >CAAHC[ HCZIH >AI@[IB[>c>YJF I> _FCBC I JI>F [=>AB=\YA=?@ _?YH[ FI,C \CC@ WCI>=\HC+ _FCBC AFCBC _I> I@ =@>YWW=J=C@A j@ChY>k \CA_CC@ AFC 12 +'"* ]ISRC@A I@[ AFC =@ACBC>A> ?W AFC JHI>>+ ?B _FCBC AFC [=>AB=JA J?YBAa> C,IHYIA=?@ ?W AFC >CAAHCRC@A _I> ?AFCB_=>C HC>> AFI@ AF?B?YZF-

#FC #F=B[ 6=BJY=Aa> [CJ=>=?@ =@ K?J2 !'%,.1#*+ W?B ChIR]HC+ =@,?H,C[ I mX: R=HH=?@ I@A=ABY>A >CAAHCRC@A WY@[ WB?R _F=JF JHI=R> _?YH[ \C ]I=[ ?YA IA I [=>J?Y@A ?@ I AFBCCPA=CBC[ \I>=>+ _=AF I \?AA?R A=CB ?Wm: W?B JHI=RI@A> _F? HIJQC[ ]B??W ?W ]YBJFI>C- E _?YH[ \C ]I=[ ?@ I 12 +'"* \I>=> A?

D<

I]]B?]B=IAC JFIB=A=C>- DJ$,- #FC WHI_ =@ AFC >CAAHCRC@A+ AFC #F=B[ 6=BJY=A W?Y@[+ _I> AFIA AFC ]IBA=C> FI[ [CWC@[C[ AFC AFBCCPA=CBC[ ]IS?YA >ABYJAYBC A? AFC [=>AB=JA J?YBA \I>C[ Y]?@ =@J?BBCJA =@W?BRIA=?@ AFIA [BI>A=JIHHS Y@[CBC>A=RIAC[ AFC ]CBJC@AIZC ?W JHI=R> AFIA _?YH[ WIHH =@A? AFC m: JIACZ?BS+ _=AF AFC BC>YHA AFIA AFC [=>AB=JA J?YBA+ _FC@ =A I]]B?,C[ AFC >ABYJAYBC+ I>>YRC[ I RYJF HIBZCBJHI>> ]IS?YA AFI@ IJAYIHHS _?YH[ \C AFC JI>C- D,- IA MEM+ ME:lE;- 2@ I]]CIH+ @C_ =@W?BRIA=?@ CRCBZC[ >F?_=@Z AFIA ,=BAYIHHS IHH AFC JHI=R> _?YH[ \C ]I=[ ?YA IA AFC m: HC,CH+ BC>YHA=@Z =@ >=Z@=W=JI@AHS HC>> A? \C [=>AB=\YAC[ A? AFC JHI>> NI@[ AFCBCW?BC >=Z@=W=JI@AHS R?BC W?B AFC ]B?]?>C[ 12 +'"* WY@[O AFI@ AFC ]IBA=C> FI[ A?H[ AFC [=>AB=JA J?YBA- #FCBC _I> @? >YZZC>A=?@ AFIA =A _?YH[ \C =@WCI>=\HC A? ]IS R?BC AFI@ m: A? AFC JHI=RI@A>c=@ WIJA+ HIBZCB ]ISRC@A> FI[ \CC@ Ch]CJAC[c?B AFIA I@S ?W AFCR _?YH[ \C ?,CBPJ?R]C@>IAC[ =W ]I=[ R?BC AFI@ m:- D,- IA MEM+ ME:- #FC #F=B[ 6=BJY=A _I> AB?Y\HC[ AFIA AFC [=>AB=JA J?YBA+ _FC@ =A I]]B?,C[ AFC >CAAHCRC@A+ [=[ >? \I>C[ Y]?@ WHI_C[ =@W?BRIA=?@ I\?YA AFC BIAC I@[ HC,CH ?W JHI=R>- #FC J?YBA BCRI@[C[ >? AFIA AFC [=>AB=JA J?YBA+ =@ =A> [=>JBCA=?@+ J?YH[ IJJ?Y@A W?B AFC @C_ [IAI I@[ [CJ=[C _FCAFCB AFC JHI=R> >ABYJAYBC >A=HH RI[C >C@>C- D,- IA ME:PE;-

6?@ABIBS A? 9CA=A=?@CBa> >YZZC>A=?@+ AFC J?YBA =@ K?J2 !'%,.1#* [=[ @?A C>AI\H=>F I ZC@CBIH BYHC BCeY=B=@Z [=>AB=JA J?YBA> A? C>A=RIAC [?HHIB ,IHYC> W?B IHH JHI=R> A? \C BC>?H,C[ AFB?YZF I >CAAHCRC@A- !@[CC[+ AFC #F=B[ 6=BJY=A FI> RI[C JHCIBcI> [=[ AFC "=@AF 6=BJY=A \CH?_cAFIA jAFC _C=ZF=@Z ?W I JHI=R IZI=@>A J?R]C@>IA=?@ JI@@?A \C q ChIJA+ n@o?B >F?YH[ =A \C+ >=@JC I@ ChIJA ^Y[=J=IH [CACBR=@IA=?@ ?W AFC

DM

,IHYC> =@ =>>YC _?YH[ [CWCIA AFC ]YB]?>C ?W J?R]B?R=>=@Z AFC JHI=R-k D& '" !"&& -"&#5 B'?&*+5 -%-+ :K; G-D[ MM<D+ MMML N6(X MKEKOi ?11%', 9CA- (]]- MK N[=>AB=JA J?YBA @CC[ @?A jW=@[ I >]CJ=W=J R?@CAIBS ,IHYC J?BBC>]?@[=@Z A? CIJF ?W AFC ]HI=@A=WW JHI>>a> >AIAYA?BS JHI=R> I@[ J?R]IBC AFC ,IHYC ?W AF?>C JHI=R> A? AFC ]B?WWCBC[ >CAAHCRC@A I_IB[+k I ]B?JC>> AFIA _?YH[ \C j?@CB?Y>k I@[ ?WAC@ j=R]?>>=\HCkO-

!@ WIJA+ AFC "=@AF 6=BJY=A ,%"* BCeY=BC I [=>AB=JA J?YBA A? I>>C>> jAFC >ABC@ZAF ?W AFC ]HI=@A=WW>a JI>Ck I@[ jAFC B=>Q+ Ch]C@>C+ J?R]HCh=AS+ I@[ H=QCHS [YBIA=?@ ?W WYBAFCB H=A=ZIA=?@+k 9CA- (]]- M<+ MK NJ=A=@Z 8?&/%&+ M:< G-X[ IA M<D;O+ I@[ AFC [=>AB=JA J?YBA [=[ >? FCBC+ 9CA- (]]- ::l:;- #FIA >AI@[IB[ ABIJQ> AFC #F=B[ 6=BJY=Aa> BYHC- 4"" D& '" !'.,"&#$?/ D&*5 -%5 6354?/"* !'?1#$1" G$#$<5 6<"&# 61#$%&*+ MLb G-X[ DbX+ XME N6(X MKKbO N[=>AB=JA J?YBA >F?YH[ J?@>=[CB+ $&#"' ?/$?+ jAFC B=>Q> ?W C>AI\H=>F=@Z H=I\=H=AS nI@[o [IRIZC>+k I@[ jAFC J?R]HCh=AS+ Ch]C@>C I@[ H=QCHS [YBIA=?@ ?W AFC H=A=ZIA=?@kO-

#FC "=@AF 6=BJY=Aa> I@IHS>=> IH>? J?R]?BA> _=AF AFC .C,C@AF 6=BJY=Aa> ,IB=?Y> BYH=@Z> =@ F$'0?*$H$ ,-A/""# F%'#<?<" -%'+- 4"" 9CA- DDlDL- #FCBC+ AFC ]IBA=C> FI[ IZBCC[ A? I 12 +'"* BCRC[S ?W I]]B?h=RIACHS mDLX+<<< W?B I M-L R=HH=?@ RCR\CB JHI>>+ _F=JF _?YH[ FI,C IR?Y@AC[ A? ME JC@A> ]CB JHI>> RCR\CB =W [=>AB=\YAC[ A? AFC C@A=BC JHI>>- 4"" L:< G-X[ EL:+ EL;lLE N6(E D<<;O- #FC .C,C@AF 6=BJY=A @?AC[ AFIA AF=> [=>AB=\YA=?@ _?YH[ \C ]B?]CB =W AFC JHI>> jFI[ @? JHI=RcR?BC ]BCJ=>CHS @? JHI=R HIBZC C@?YZF A? ^Y>A=WS I [=>AB=\YA=?@ A? AFCR+k X:; G-X[ EbM+ Eb: N6(E D<<LOi =A BCRI@[C[ A? AFC [=>AB=JA J?YBA+ A_=JC+ \CJIY>C AFC [=>AB=JA J?YBA WI=HC[ A? C,IHYIAC AFC ]HI=@A=WW>a JHI=R> Y@[CB IHH ?W AFC

DD

BCHC,I@A >AIAC >AIAYAC>- 4"" $J$,5i L:< G-X[ IA E:<l:M-#FC .C,C@AF 6=BJY=A =@>ABYJAC[ AFC [=>AB=JA J?YBA A? [? C>>C@A=IHHS _FIA AFC [=>AB=JA J?YBA [=[ FCBCcJ?@>=[CB AFC j]B?\I\=H=AS ?W ]HI=@A=WW ]BC,I=H=@Z ?@ =A> ,IB=?Y> JHI=R>k I@[ AFC jCh]CJAC[ J?>A> ?W WYAYBC H=A=ZIA=?@-kL:< G-X[ IA ELb-

.=Z@=W=JI@AHS+ =@ I AF=B[ [CJ=>=?@ AFIA AFC 9CA=A=?@ WI=H> A? J=AC+ AFC .C,C@AF 6=BJY=A YHA=RIACHS ?00$'3",AFC 12 +'"* [=>AB=\YA=?@ ?@ I BIA=?@IHC >=R=HIB A? AFC "=@AF 6=BJY=Aa> FCBCf AFIA AFC Y@[CBHS=@Z JHI=R> _CBC ?W [Y\=?Y> ,IHYC I@[ ]BC>C@AC[ >=Z@=W=JI@A H=A=ZIA=?@ B=>Q> W?B AFC ]HI=@A=WW>- F$'0?*$H$ ,- A/""# F%'#<?<" -%'+-+ ::M G-X[ ;bD+ ;b; N6(E D<<bO- (R?@Z ?AFCB AF=@Z>+ AFC .C,C@AF 6=BJY=A [=>J?Y@AC[ AFC ]HI=@A=WW>a JHI=R> W?B >AIAYA?BS [IRIZC> \CJIY>C >?RC ?W AFC BCHC,I@A >AIAYAC> [=[ @?A ]CBR=A AFC IZZBCZIA=?@ ?W >YJF JHI=R> AFB?YZF I JHI>> IJA=?@cI BIA=?@IHC >=R=HIB A? AFIA I]]H=C[ FCBC- D,- IA ;b:i *"" ?/*% 9CA- (]]- D<- (@[ ^Y>A I> AFC J?YBA> FCBC eYC>A=?@C[ AFC I]]H=JI\=H=AS ?W AFC 599( A? GIJC\??Q+ *"" 9CA- (]]- D<lDM+ AFC .C,C@AF 6=BJY=A W?Y@[ AFC WC[CBIH GI=B 6BC[=A )C]?BA=@Z (JA =@I]]H=JI\HC A? AFC [CWC@[I@A- 4"" ::M G-X[ IA ;b:lb;- "?AF=@Z =@ AF=> >CA ?W [CJ=>=?@> JBCIAC> I J?@WH=JA _=AF AFC [CJ=>=?@ FCBC-

#FC .CJ?@[ I@[ G=WAF 6=BJY=A [CJ=>=?@> >AB=Q=@Z [?_@ 12 +'"* BCRC[=C> =@ F?*#"'* I@[ 9/$"' IH>? IBC J?@>=>AC@A _=AF AFC [CJ=>=?@ \CH?_- 4?AF JI>C> =@,?H,C[ >Y\>AI@A=IH BC>=[YIH WY@[> AFIA AFC J?YBA> W?Y@[ J?YH[ WCI>=\HS \C [=>AB=\YAC[ A? JHI>> RCR\CB>+ I@[ @C=AFCB =@,?H,C[ I 12 +'"* BCRC[S AFIA _I> >]CJ=W=JIHHS J?@ACR]HIAC[ ?B IYAF?B=gC[ \S AFC >CAAHCRC@A IZBCCRC@A- 4"" F?*#"'*+ LEX G-X[ IA LX;i9/$"'+ ;:b G-X[ IA LEb 8 @-DK- !@[CC[+ =@ 9/$"'+ AFC [=>AB=JA J?YBA Y@=HIACBIHHS ?B[CBC[ I 12 +'"*

DX

[=>]?>=A=?@ ?W BC>=[YIH WY@[> $& 1%&#'?>"&#$%& ?W AFC ]IBA=C>a IZBCCRC@A+ _F=JF >]CJ=W=JIHHS [=BCJAC[ AFIA >YJF WY@[> \C [=>AB=\YAC[ A? AFC JHI>>- 4"" ;:b G-X[ IA LEb- (@[ =@ F?*#"'*+ AFC J?YBA [=BCJAC[ AFC WY@[> A? JFIB=A=C> _=AF?YA C,C@ J?@>=[CB=@Z _FCAFCB I [=>AB=\YA=?@ A? AFC JHI>> _?YH[ \C ]?>>=\HC- 4"" LEX G-X[ IA LX;- #FC>C [CJ=>=?@> JBCIAC @? J?@WH=JA _=AF AFC "=@AF 6=BJY=Aa> [CJ=>=?@ \CH?_-

D- #FCBC IH>? => @? J?@WH=JA J?@JCB@=@Z AFC jBCeY=BC[ @ChY> \CA_CC@ I 12 +'"* I_IB[ I@[ JHI>> RCR\CB>a =@ACBC>A>-k 9CA- D:- (ZI=@+ AFC "=@AF 6=BJY=A W?HH?_> AFC >IRC >AI@[IB[ I> ?AFCB J=BJY=A>-

!@ D& '" 6$'/$&" B$17"# -%33$**$%& 6&#$#'.*# G$#$<?#$%&+ I JHI>> IJA=?@ \B?YZFA ?@ \CFIHW ?W ABI,CH IZC@A>+ AFC %=ZFAF 6=BJY=A BC^CJAC[ I >CAAHCRC@A AFIA [=>AB=\YAC[ 12 +'"* WY@[>+ @?A A? ABI,CH IZC@A>+ \YA A? I ]Y\H=J =@ACBC>A HI_ ZB?Y] _=AF @? J?@@CJA=?@ j\CA_CC@ =A> ]YB]?>C> I@[ AFC >Y\^CJA RIAACB ?W nAFCoJHI>> IJA=?@-k X<E G-X[5 IA ;bMlbD- #FC J?YBA >ABC>>C[ AFC @CC[ A? AI=H?B I 12 +'"* [=>AB=\YA=?@ A? AFC @IAYBC ?W AFC Y@[CBHS=@Z HI_>Y=A- D,5 IA ;bDlbX-

/=QC_=>C+ AFC .C,C@AF 6=BJY=A =@ 8%.17 ,- A%/,$&< -?'#%& 6,3$&$*#'?#$%& -%33$##""+ bbM G-D[ LKL+ LK;lKE N6(E MKbKO+ I @IA=?@_=[C JHI>> IJA=?@ IHHCZ=@ZI@A=ABY>A ,=?HIA=?@> ?@ \CFIHW ?W W?H[=@Z JIBA?@ ]YBJFI>CB>+ BC^CJAC[ I >CAAHCRC@A IZBCCRC@A AFIA [=>AB=\YAC[ 12 +'"* WY@[> A? A_? HI_ >JF??H> =@ 6F=JIZ? W?B jBC>CIBJF ]B?^CJA> =@ AFC IBCI ?W JHI>> IJA=?@>+ I@[ ]IBA=JYHIBHS I@A=ABY>A HI_-k 4CJIY>C AFC >CAAHCRC@A =@,?H,C[ I @IA=?@_=[C JHI>>+ AFC .C,C@AF 6=BJY=A [=BCJAC[ AFC [=>AB=JA J?YBA A? J?@>=[CB IBCJ=]=C@A ?B BCJ=]=C@A> _=AF I \B?I[CB ZC?ZBI]F=JIH >J?]C- D,5 IA :<Dl<X-

DL

#FC .CJ?@[ 6=BJY=A =@ D& '" 6<"&# I'?&<" !'%,.1# G$?J$/$#2 G$#$<?#$%& I]]B?,C[ ?W AFC ]B?]?>IH A? C>AI\H=>F I@ =@[C]C@[C@A jJHI>> I>>=>AI@JC W?Y@[IA=?@-k !A> [CJ=>=?@ AYB@C[ ?@ AFC W=@[=@Z AFIA AFC W?Y@[IA=?@ _?YH[ j\C@CW=A AFC C@A=BC JHI>>k \S j>CAnA=@Zo I>=[C I ]?BA=?@ ?W AFC >CAAHCRC@A ]B?JCC[> W?B ]B?ZBIR> [C>=Z@C[ A? I>>=>A AFC JHI>>-k bMb G-D[ IA MbLlb:- #FC "=@AF 6=BJY=A I]]H=C[ AFC >IRC >AI@[IB[> FCBC-

"?@C ?W AFC>C JI>C> JBCIAC> I J?@WH=JA ?@ AFC BCeY=BC[ j@ChY>k \CA_CC@ 12 +'"* BCRC[=C> I@[ AFC =@ACBC>A> ?W AFC JHI>>- #FIA >?RC ?W AFC>C JI>C> BC^CJAC[ 12 +'"* BCRC[=C> RCBCHS BCWHCJA> AFC WIJA AFIA AF?>C [CJ=>=?@>cY@H=QC AF=> ?@CcI[[BC>>C[ I_IB[> A? JFIB=AI\HC C@A=A=C> HIJQ=@Z I >YWW=J=C@A >Y\>AI@A=,C ?B ZC?ZBI]F=J J?@@CJA=?@ A? JHI>> RCR\CB>a =@ACBC>A>- !@[CC[+ AFC>C [CJ=>=?@> JH?>CHS ]IBIHHCH AFC "=@AF 6=BJY=Aa> ?_@ [CJ=>=?@> >AB=Q=@Z [?_@ 12 +'"* I_IB[> AFIA >=R=HIBHS HIJQC[ AFC BCeY=>=AC @ChY>- 4"" 4$Q F"Q$1?& L%'7"'*+ K<L G-D[ IA MX<bi M?1H*H$&+ ;;X G-X[ IA M<X;i ;"&&$*+ ;KE G-X[ IA b;b-

X- G=@IHHS+ AFCBC => @? >]H=A J?@JCB@=@Z _FCAFCB I [=>AB=JA J?YBA RY>A j>Y]CB,=>C AFC I[R=@=>ABIA=?@ ?W I@ ?]C@PC@[C[ 12 +'"* I_IB[ A? C@>YBC AFIA =A IJF=C,C> =A> =@AC@[C[ ]YB]?>C+k 9CA- DbcI eYC>A=?@ ?@ _F=JF AFC J=BJY=A> [? @?A [=>IZBCC I@[ AFIA YHA=RIACHS => F=ZFHS WIJAP>]CJ=W=J- !@ AF=> JI>C+ I> AFC "=@AF 6=BJY=A CR]FI>=gC[+ AFC [=>AB=JA J?YBA _=HH BCAI=@ ^YB=>[=JA=?@ ?,CB AFC =R]HCRC@AIA=?@ ?W AFC >CAAHCRC@A I@[ AFC [=>]?>=A=?@ ?W >CAAHCRC@A WY@[>+ I@[ =@ >? [?=@Z JI@ C@>YBC AFIA U#G IJA> =@ IJJ?B[I@JC _=AF =A> ]YB]?>C- 9CA- (]]- EMlEDi *"" ?/*% $,- IA ME @-L-

D:

&?BC?,CB+ AFC A_? JI>C> 9CA=A=?@CB J=AC> =@,?H,C[ [=>AB=JA J?YBA> AFIA ?B[CBC[ 12 +'"* [=>AB=\YA=?@> ?@ AFC=B ?_@ =@=A=IA=,C+ I@[ @C=AFCB C>AI\H=>FC[ I@S ZC@CBIH >CA ?W BYHC> BCZIB[=@Z J?YBA >Y]CB,=>=?@ ?W 12 +'"* BCJ=]=C@A>- !@ 6<"&# I'?&<"+ AFC [=>AB=JA J?YBA FI[ ]B?]?>C[ I jJHI>> I>>=>AI@JC W?Y@[IA=?@-k #FC .CJ?@[ 6=BJY=A AF?YZFA AFIA J?YBA >Y]CB,=>=?@ ?W AFC [=>AB=\YA=?@ ]B?JC>> _I> _IBBI@AC[ W?B >C,CBIH BCI>?@>+ =@JHY[=@Z AFC WIJA AFIA AFC W?Y@[IA=?@a> \B?I[ RI@[IAC IHH?_C[ =A A? C@ZIZC =@ j]?H=A=JIH I[,?JIJS+k bMb G-D[ IA Mb;cI@ IJA=,=AS AFIA U#Ga> (BA=JHC> >]CJ=W=JIHHS ]B?F=\=A- #FC .CJ?@[ 6=BJY=A @C,CB FI> BCI[ 6<"&# I'?&<" A? BCeY=BC ?@Z?=@Z J?YBA >Y]CB,=>=?@ ?W I@S C@A=AS BCJC=,=@Z 12 +'"* WY@[>-

(@[ =@ D& '" G.+'%&+ AFC G=B>A 6=BJY=A IWW=BRC[ I [=>AB=JA J?YBAa> BYH=@Z [=>AB=\YA=@Z ChJC>> >CAAHCRC@A WY@[> A? JFIB=AS+ =@JHY[=@Z jI@ ?,CB>=ZFA ]HI@ _F=JF BCeY=BC[ nAFC JFIB=ASo A? >Y\R=A BCZYHIB BC]?BA> A? IJJ?Y@A W?B AFC ZBI@A I_IB[> I@[ Ch]C@[=AYBC>-k ;EE G-X[ IA Db- #FC G=B>A 6=BJY=A JHIB=W=C[ AFIA I@ I@@YIH IY[=A _I> I@ =@AC@[C[ ]IBA ?W AFC [=>AB=JA J?YBAa> ?B[CB- D,5 IA XblXK- 4YA+ IZI=@+ AFC J?YBA [=[ @?A I[?]A I@S ZC@CBIH BYHC BCeY=B=@Z I@ I@@YIH IY[=A ?W I@S 12 +'"* BCJ=]=C@A-

(> AFC>C JI>C> =HHY>ABIAC+ AFC eYC>A=?@ ?W ^Y[=J=IH >Y]CB,=>=?@ ?W 12 +'"* BCRC[=C> ZC@CBIHHS IB=>C> I@[ => BC>?H,C[ ?@ I JI>CP>]CJ=W=J \I>=>- !@[CC[+ AFC "=@AF 6=BJY=A BCeY=BC[ >Y]CB,=>=?@ =@ 4$Q F"Q$1?& L%'7"'*+ K<L G-D[ IA MX<El<K+ _FCBC AFCBC j_I> @? _IS ?W Q@?_=@Z _FCAFCB AFC ?BZI@=gIA=?@ _?YH[ Y>C AFC WY@[> A? AFC \C@CW=A ?W JHI>> RCR\CB>-k 9CA- (]]- ME- $CBC+ AFC "=@AF 6=BJY=A W?Y@[ AF=> I>]CJA ?W 4$Q F"Q$1?& L%'7"'* =@I]]?>=AC \CJIY>C AFC >CAAHCRC@A IZBCCRC@A I@[ U#Ga> (BA=JHC> ?W !@J?B]?BIA=?@ jACHH

D;

Y> ChIJAHS F?_ WY@[> _=HH \C Y>C[-k DJ$,- (ZI=@+ AFCBC => @? J=BJY=A J?@WH=JA ?@ AF=> ]?=@A-

??# C3+ *+,-,-") B"+7 !", */+7+), 0) ?M:"/,0), F8+7,-") ". A+5+/0; I0P C30, 10//0),7 C3-7 2"8/,Q7 >+N-+P#

#FC 9CA=A=?@ IH>? ]BC>C@A> @? =R]?BAI@A eYC>A=?@ ?W WC[CBIH HI_ _IBBI@A=@Z AF=> 6?YBAa> BC,=C_- 9CA=A=?@CBa> \B?I[>=[C IAAIJQ ?@ AFC Y>C ?W 12 +'"*WY@[> =Z@?BC> \?AF AFC \C@CW=A> ?W 12 +'"* BCRC[=C> =@ I[,I@J=@Z AFC ^Y[=J=IH ]?H=J=C> WI,?B=@Z JHI>> IJA=?@ >CAAHCRC@A>+ I@[ AFC [=>AB=JA J?YBAa> [=>JBCA=?@IBS ]?_CB Y@[CB )YHC DXNCO A? C@>YBC AFIA >YJF BCRC[=C> IBC I]]B?]B=IACHS H=R=AC[ I@[ >ABYJAYBC[-

9CA=A=?@CBa> [CB=>=?@ ?W 12 +'"* BCRC[=C> I> j]IAF?H?Z=C> ?W AFC JHI>>PIJA=?@ ]B?JC[YBCk N9CA- X<O =Z@?BC> AFC=B =R]?BAI@A I@[ _CHHPC>AI\H=>FC[ B?HC =@ BC>?H,=@Z JHI>> IJA=?@> _FCBC AFC BCHIA=,CHS H?_ >CAAHCRC@A ,IHYC ?W AFC JHI=R> _?YH[ S=CH[ ?@HS I ," 3$&$3$* ]ISRC@A ]CB =@[=,=[YIH JHI>> RCR\CB- -2 +'"* BCRC[=C> IHH?_ AFC IZZBCZIAC[ WY@[> A? \C ]YA A? I Y>C AFIA+ =W ]B?]CBHS [CW=@C[+ _=HH \C@CW=A JHI>> RCR\CB> \S I]]B?h=RIA=@Z AFC =@ACBC>A> >?YZFA A? \C WYBAFCBC[ \S AFC JHI>> IJA=?@- #FC IHACB@IA=,C _?YH[ \C C=AFCB A? W?BJC AFC ]IBA=C> A? J?@A=@YC A? H=A=ZIAC AFC H?_P,IHYC JHI=R>+ ?B A? =@>=>A ?@ I F=ZFCB >CAAHCRC@A IR?Y@A AFIA _?YH[ ?,CB,IHYC AFC JHI=R> IA =>>YCc@C=AFCB >?HYA=?@ \C=@Z J?@>=>AC@A _=AF AFC >AB?@Z ^Y[=J=IH ]?H=J=C> WI,?B=@Z >CAAHCRC@A-

G?B IHH =A> BFCA?B=J I\?YA AFC ]?AC@A=IH W?B I\Y>C ?W 12 +'"* >CAAHCRC@A>+ 9CA- X<lX:+ AFC 9CA=A=?@ ?WWCB> @? IHACB@IA=,C+ RYJF HC>> ?@C AFIA => >Y]CB=?B A? AFC JB=ACB=I IHBCI[S \C=@Z CR]H?SC[ \S AFC J?YBA> ?W

DE

I]]CIH> A? C@>YBC AFIA >YJF >CAAHCRC@A> [? @?A >CB,C I> ,CF=JHC> W?B Y@WI=B@C>> ?B J?HHY>=?@- #FC>C J?@JBCAC JB=ACB=I =@JHY[C ^Y[=J=IH >JBYA=@S ?W AFC ]YB]?>C> ?W AFC ?BZI@=gIA=?@ I@[ =A> @ChY> A? AFC =@ACBC>A> ?W AFC JHI>> RCR\CB>- 6?R\=@C[ _=AF AFC [=>AB=JA J?YBA>a \B?I[ [=>JBCA=?@ Y@[CB )YHC DXNCONDO A? jI]]BI=>C AFC BCI>?@I\HC@C>> ?W ]IBA=JYHIB JHI>>PIJA=?@ >CAAHCRC@A> ?@ I JI>CP\SPJI>C \I>=>+ =@ AFC H=ZFA ?W IHH AFC BCHC,I@A J=BJYR>AI@JC>+k =>?&* ,- @"00 ;-+ LE: 7-.- EME+ ELD NMKb;O+ AFC>C JB=ACB=I IBC >YWW=J=C@A A? C@>YBC AFIA AFC 12 +'"* [C,=JC => Y>C[ ?@HS _FC@ =A WYBAFCB> AFC I]]B?]B=IAC =@ACBC>A> I@[ =@JHY[C> AFC BCeY=>=AC >IWCZYIB[>- 9BC>YRI\HS+ AFC J?YBA> ?W I]]CIH> _=HH J?@A=@YC A? _C=ZF CIJF ]B?]?>C[ 12 +'"* >CAAHCRC@A Y@[CB AFC>C >AI@[IB[>+ >AB=Q=@Z [?_@ >?RC AFIA [? @?A J?R]HS+ ?B AFIA \CIB >=Z@> ?W J?HHY>=?@+ I@[ Y]F?H[=@Z ?AFCB>- !@ WIJA+ AFC C,=[C@A J?HHI\?BIA=?@ IR?@Z AFC WC[CBIH J=BJY=A> =@ AF=> IBCI+ I@[ AFC J?@>=>AC@JS ?W AFC=B I]]B?IJFC>+ IBC >AB?@Z =@[=JIA=?@> AFIA AFC ]B?JC>> ?W ^Y[=J=IH BC,=C_ => _?BQ=@Z- #FCBC => @? @CC[ W?B AF=> 6?YBA A? =@ACB,C@C-

???# C3-7 207+ ?7 0 *""/ R+3-<;+ ."/ 955/+77-)O ,3+ I+O0; 6,0)50/57 H"N+/)-)O (" )$%& >+M+5-+7 -) 6+,,;+M+), 9O/++M+),7#

%,C@ =W AFC 6?YBA _=>FC[ A? C,IHYIAC AFC Y>C ?W 12 +'"* BCRC[=C> =@ JHI>> IJA=?@>+ AF=> => I ]??B ,CF=JHC\CJIY>C 9CA=A=?@CB WI=HC[ A? ]BC>CB,C AFC HCI[ IBZYRC@A =@ AFC 9CA=A=?@+ @IRCHS j_FCAFCB I 12 +'"* [=>AB=\YA=?@ => I]]B?]B=IACk _FCBC AFCBC => A? \C @? [=BCJA [=>AB=\YA=?@ A? JHI>> RCR\CB>+ 9CA- MK- 9CA=A=?@CBa> I]]CHHIAC \B=CW =@ AFC "=@AF 6=BJY=A J?@JC[C[ AF=> IBZYRC@A I_ISf

Db

j#F=> I]]CIH [?C> @?A JFIHHC@ZC Y>IZC ?W I JS ]BC> BCRC[S A? BC>?H,C AF=> JHI>> IJA=?@- 2@ AFC J?@ABIBS+ >YJF I BCRC[S RIS \C I]]B?]B=IAC \I>C[ ?@+ W?B ChIR]HC+ AFC >=gC ?W AFC JHI>> _FC@ \IHI@JC[ IZI=@>A AFC ?,CBIHH >=gC ?W AFC WY@[- )IAFCB+ AF=> I]]CIH J?@JCB@> AFC >CAAH=@Z ]IBA=C>a WI=HYBC A? [CR?@>ABIAC AFIA AFC JFIB=AI\HC W?Y@[IA=?@ => I@ I]]B?]B=IAC Y>IZC ?W JHI>> >CAAHCRC@A WY@[> I@[ AFC HIJQ ?W [=>AB=JA J?YBA =@,?H,CRC@A I@[ ?,CB>=ZFAq-k

6(K UQA- "?- MLPM+ IA DM N6I>C "?- M<PM;XKbO- #F=> 6?YBA @?BRIHHS [?C> @?A C@ACBAI=@ I@ IBZYRC@A AFIA _I> _I=,C[ =@ AFC J?YBA> \CH?_- S&$#", 4#?#"* ,-6/>?'"RP4?&1H"R+ :MM 7-.- X:<+ X;< @-: NMKKLO-

"?B [=[ 9CA=A=?@CB ]BC>CB,C AFC IBZYRC@A+ =R]H=J=A=@ AFC 9CA=A=?@+ AFIA I [=>AB=\YA=?@ ?W >CAAHCRC@A WY@[> A? =@[=,=[YIH JHI>> RCR\CB> _?YH[ FI,C \CC@ WCI>=\HC- UC>]=AC AFC >]CJ=W=J W=@[=@Z> ?@ AF=> ]?=@A \S AFC [=>AB=JA J?YBA+ 9CA=A=?@CB [=[ @?A J?@AC>A AFC =>>YC C=AFCB =@ AFIA J?YBA ?B =@ AFC "=@AF 6=BJY=AcI@[ =@[CC[+ I]]CHHIAC J?Y@>CH IBZY=@Z ?@ \CFIHW ?W ?\^CJA?B> J?@JC[C[ AFC ]?=@A IA IBZYRC@A- 6(K )CJ?B[=@Z ?W 2BIH (BZYRC@A ;fD:lEf<Ei *"" ?/*% 9CA- (]]- M:- '=,C@ AF=> F=>A?BS+ 9CA=A=?@CB => @?A =@ I ]?>=A=?@ @?_ A? IBZYC AFIA =@[=,=[YIH [=>AB=\YA=?@>_?YH[ FI,C \CC@ WCI>=\HC- 4"" 6,$17"* ,- 45 85 9'"** : -%-+ XKb 7-.- MLL+ MLE @-D NMKE<O NjVFCBC =>>YC> IBC @C=AFCB BI=>C[ \CW?BC @?B J?@>=[CBC[ \S AFC 6?YBA ?W (]]CIH>+ AF=> 6?YBA _=HH @?A ?B[=@IB=HS J?@>=[CB AFCR-kOi E'?>"' B?&7 : F0<5 -%5 ,- G$&," 6$' !'%,*5 -%5+ XX; 7-.- DEM+ DE: NMKLKO N[CJH=@=@Z A? BC,=C_J?@JYBBC@A W=@[=@Z> ?W WIJA \S A_? J?YBA> \CH?_ I\>C@A jI ,CBS ?\,=?Y> I@[ ChJC]A=?@IH >F?_=@Z ?W CBB?BkO-

DK

(@?AFCB BCI>?@ AF=> JI>C => I ]??B ,CF=JHC => AFIA =A =@,?H,C> I F?>A ?W WIJAP>]CJ=W=J =>>YC>- #FC>C =@JHY[C+ IR?@Z ?AFCB>+ _FCAFCB AFC [=>AB=JA J?YBA J?BBCJAHS C,IHYIAC[ AFC A?AIH >CAAHCRC@A IR?Y@A+ AFC R?@CAIBS I@[ @?@PR?@CAIBS \C@CW=A> ]B?,=[C[ A? AFC JHI>>+ AFC >ABC@ZAF ?W ]HI=@A=WW>a JHI=R> I@[ GIJC\??Qa> [CWC@>C>+ AFC J?>A> I@[ B=>Q> ?W WYBAFCB H=A=ZIA=?@+ AFC J%&? 0$,"*?W ]HI=@A=WW>a 599( JHI=R>+ I@[ AFC @ChY> \CA_CC@ AFC 12 +'"* [=>AB=\YA=?@ I@[ AFC =@ACBC>A> ?W AFC JHI>>- GIB WB?R ?WWCB=@Z AF=> 6?YBA I@ ?]]?BAY@=AS A? ]B?,=[C \B?I[ jZY=[I@JCk W?B AFC H?_CB J?YBA>+ AF=> JI>C _?YH[ BCeY=BC AFC 6?YBA A? W?JY> =A> IAAC@A=?@ ?@ I RYHA=AY[C ?W WIJAYIH =>>YC> \?Y@[ Y] =@ AFC IHHCZC[CBB?B I>>CBAC[ \S AFC 9CA=A=?@-

?R# C3+ B+<-7-") SL ,3+ 2"8/, ". 9::+0;7 ?7 2"//+<, ") ,3+ J+/-,7#

G=@IHHS+ JCBA=?BIB= => Y@_IBBI@AC[ \CJIY>C AFC "=@AF 6=BJY=Aa> [CJ=>=?@ _I> J?BBCJA- #FC [=>AB=JA J?YBA IJAC[ _=AF=@ =A> [=>JBCA=?@ =@ I]]B?,=@Z AFC >CAAHCRC@A BCIJFC[ IWACB R?@AF> ?W ]B?ABIJAC[+ Z??[ WI=AF @CZ?A=IA=?@>-

#FC [=>AB=JA J?YBA BCJ?Z@=gC[ =A> ?\H=ZIA=?@ A? >JBYA=@=gC AFC ]B?]?>C[ >CAAHCRC@AcI [YAS =A @?AC[ _I> j]IBA=JYHIBHS ]B?@?Y@JC[k \CJIY>C AFC JHI>> >CAAHCRC@A IB?>C \CW?BC JHI>> JCBA=W=JIA=?@- U=>A- 6A- UQA- "?- MLM+ IA ;- !A AFC@ J?@[YJAC[ I J?R]BCFC@>=,C I@IHS>=> ?W AFC BCJ?B[ \CW?BC =A- !@ ]IBA=JYHIB+ =A _C=ZFC[ AFC IR?Y@A ?W AFC mK-: R=HH=?@ >CAAHCRC@A IZI=@>A AFC >ABC@ZAF ?W ]HI=@A=WW>a JHI=R>+ =@JHY[=@Z AFC ]?>>=\=H=AS AFIA AFC 599( JHI=R> R=ZFA IHH?_ >AIAYA?BS ]C@IHA=C>- 9CA- (]]- D<+ :Ll;M-

X<

(WACB \B=CW=@Z I@[ IBZYRC@A ?@ AFC 599( JHI=R>+ AFC J?YBA J?@JHY[C[ AFIA AF?>C JHI=R> _CBC j>]CJYHIA=,C IA \C>A-k 9CA- (]]- :K- !A BCIJFC[ AF=> J?@JHY>=?@ IWACB FCIB=@Z IBZYRC@A> J?@JCB@=@Z NMO ]HI=@A=WW>a WI=HYBC A? >Y]]?BA AFC AFC?BS ?W IZZBCZIAC[ >AIAYA?BS [IRIZC>i NDO AFC WIJA AFIA AFC 599( I]]H=C> ?@HS A? I j,=[C? AI]C >CB,=JC ]B?,=[CB+k I [CW=@C[ ACBR AFIA H=QCHS [=[ @?A J?,CB GIJC\??QiX

NXO AFC "=@AF 6=BJY=Aa> BCWY>IH A? BCI[ >CJ?@[IBS H=I\=H=AS =@A? I BCHIAC[ >AIAYAC+ A'""3?& ,- ;$'"1BC( D&15+ L:E G-X[ M<<M N6(K D<<;Oi I@[ NLO AFC WIJA AFIA AFC ?@HS BCIH JI@[=[IAC W?B H=I\=H=AS Y@[CB AFC >AIAYAC+ [CWC@[I@A 4H?JQ\Y>ACB+ _I> ?@ AFC ,CBZC ?W \I@QBY]AJS- 4"" 9CA- (]]- D<lDM+ :K- !A _I> @?A I@ I\Y>C ?W [=>JBCA=?@ W?B AFC [=>AB=JA J?YBA A? [=>J?Y@A ]HI=@A=WW>a JHI=R> I@[ J?@JHY[C AFIA jAFC mK-: R=HH=?@ ?WWCBC[ =@ >CAAHCRC@A => >Y\>AI@A=IH-k D,5 IA :;-

!A IH>? _I> _=AF=@ AFC [=>AB=JA J?YBAa> [=>JBCA=?@ A? I]]B?,C I 12 +'"* BCRC[S _FCBC =@[=,=[YIH [=>AB=\YA=?@> j_?YH[ \C ," 3$&$3$* W?B CIJF JHI>> RCR\CB-k #F=> WIJAYIH ]?=@A _I> J?@JC[C[ \S AFC ?@HS ?\^CJA?B _F? I]]CIBC[ IA AFC WI=B@C>> FCIB=@Z+ I@[_I> >Y]]?BAC[ \S AFC [=>AB=JA J?YBAa> =@[C]C@[C@A I@IHS>=>- #FC J?YBAa> [CJ=>=?@ J?R]H=C[ _=AF >CAAHC[ HI_+ [=>JY>>C[ I\?,C+ F?H[=@Z AFIA 12 +'"* BCRC[=C> IBC ]B?]CB _FCBC =@[=,=[YIH [=>AB=\YA=?@> _?YH[ \C =@WCI>=\HC- &?BC?,CB+ \?AF AFC [=>AB=JA J?YBA I@[ AFC "=@AF 6=BJY=A @?AC[ AFIA AFC 12 +'"* [=>AB=\YA=?@ _I> ?@HS ?@C J?R]?@C@A ?W AFC >CAAHCRC@A IZBCCRC@A

X 4"" Mb 7-.-6- d DEM<NIONLO N[CW=@=@Z j,=[C? AI]C >CB,=JC ]B?,=[CBk A? RCI@ jI@S ]CB>?@+ C@ZIZC[ =@ AFC \Y>=@C>>+ =@ ?B IWWCJA=@Z =@ACB>AIAC ?B W?BC=Z@ J?RRCBJC+ ?W BC@AIH+ >IHC+ ?B [CH=,CBS ?W ]BCBCJ?B[C[ ,=[C? JI>>CAAC AI]C> ?B >=R=HIB IY[=? ,=>YIH RIACB=IH>q-kO-

XM

\CJIY>C AFC JHI>> IH>? BCJC=,C> I [=BCJA \C@CW=A WB?R AFC =@^Y@JA=,C BCH=CW =@ AFC >CAAHCRC@A BCeY=B=@Z GIJC\??Q ]CBRI@C@AHS A? ACBR=@IAC AFC 4CIJ?@ ]B?ZBIR- 9CA- (]]- :-

G=@IHHS+ =A _I> _=AF=@ AFC [=>AB=JA J?YBAa> [=>JBCA=?@ A? I]]B?,C U#G I> AFC 12 +'"* BCJ=]=C@A- U#Ga> ]YB]?>C I@[ WY@[=@Z ?\^CJA=,C> IBC AI=H?BC[ A? AFC =@ACBC>A> Y@[CBHS=@Z AFC JHI>> JHI=R>- !A RY>A[=BCJA AFC >CAAHCRC@A WY@[> A? I @IBB?_ JIACZ?BS ?W IJA=,=AS+ >]CJ=W=JIHHS jJB=A=JIH =>>YC> BCHIA=@Z A? ]B?ACJA=?@ ?W =[C@A=AS I@[ ]CB>?@IH =@W?BRIA=?@ ?@H=@C AFB?YZF Y>CB J?@AB?H+k I@[ j]B?ACJAn=@Zo Y>CB> WB?R ?@H=@C AFBCIA>-k 9CA- (]]- ;- (> AFC ?\^CJA?B> J?@JC[C[+ U#Ga> [=>AB=\YA=?@ ?W >CAAHCRC@A WY@[> j_=HH \C@CW=A I\>C@A JHI>> RCR\CB> I@[ WYBAFCB AFC ]YB]?>C> ?W AFC ]B=,IJS >AIAYAC> AFIA W?BR AFC \I>=> W?B AFC JHI>>P]HI=@A=WW>a HI_>Y=A-k D,- IA M:- 9HI=@A=WW>a[C>=BC A? C@>YBC AFIA AFC W?Y@[IA=?@ J?YH[ @?A \C J?@AB?HHC[ \S GIJC\??Q => BCWHCJAC[ =@ AFC A_?PAF=B[> ,?A=@Z BCeY=BCRC@A W?B WY@[=@Z [CJ=>=?@>+ _F=JF C@>YBC> AFIA I@S [=BCJA?B _F? => I GIJC\??Q CR]H?SCC JI@@?A Y@=HIACBIHHS W?BJC ?B \H?JQ I@S WY@[=@Z [CJ=>=?@-

(HAF?YZF AFC 9CA=A=?@ AIQC> =>>YC _=AF AFC [=>AB=\YA=?@ ?W 12 +'"* WY@[> A? I @C_ JFIB=AS BIAFCB AFI@ I@ Ch=>A=@Z ?BZI@=gIA=?@+ =A ]?=@A> A? @? JI>C HI_ >YZZC>A=@Z AFIA AF=> => =R]CBR=>>=\HC- (@[ AFC J?@JCB@ AFIA U#G HIJQ> I jABIJQ BCJ?B[+k 9CA- D+ =>R=A=ZIAC[+ I> AFC "=@AF 6=BJY=A BCJ?Z@=gC[+ \S AFC >AB=JA HI@ZYIZC =@ AFC >CAAHCRC@A IZBCCRC@A AFIA Z?,CB@> U#Ga> ]YB]?>C+ IJA=,=A=C>+ I@[ Z?,CB@I@JC+ I@[ \S AFC WIJA AFIA AFC =@=A=IH RCR\CB> ?W AFC \?IB[ ?W [=BCJA?B>+ _F=JF =@JHY[C> I [=BCJA?B ?W AFC !@W?BRIA=?@ 9B=,IJS 9B?ZBIR> IA AFC 4CBQCHCS 6C@ACB

XD

W?B /I_ 8 #CJF@?H?ZS I@[ I RCR\CB ?W AFC WC[CBIH 2@H=@C .IWCAS 8 #CJF@?H?ZS V?BQ=@Z 'B?Y]+ FI,C >Y\>AI@A=IH Ch]CB=C@JC =@ AF=> >]IJC- 9CA- (]]- ;lE-

!@ AFC C@[+ 9CA=A=?@CB eYIBBCH> _=AF AFC [CAI=H> ?W AFC >CAAHCRC@A A? _F=JF GIJC\??Q I@[ ]HI=@A=WW> IZBCC[+ IA AFC YBZ=@Z ?W I@ Ch]CB=C@JC[ ]B=,IAC RC[=IA?B+ IWACB RI@S R?@AF> ?W IBRa>PHC@ZAF@CZ?A=IA=?@>- 4YA AFC [=>AB=JA J?YBA BCJ?Z@=gC[ AFIA =A> B?HC _I> @?A A? [=JAIAC AFC IZBCCRC@A ?W ]B=,IAC ]IBA=C>+ \YA ?@HS A? [CACBR=@C _FCAFCB AFIA IZBCCRC@A _I> jWI=B+ BCI>?@I\HC+ I@[ I[CeYIACkY@[CB )YHC DXNCONDO- !@ AYB@+ AFC eYC>A=?@ \CW?BC AFC "=@AF 6=BJY=A _I> >=R]HS _FCAFCB AFC [=>AB=JA J?YBAa> I]]B?,IH WCHH _=AF=@ =A> j\B?I[ [=>JBCA=?@k Y@[CB )YHC DXNCONDO- 9CA- (]]- K- 4?AF J?YBA> J?BBCJAHS I]]H=C[ AFC>C >AI@[IB[> A? AFC WIJA> \CW?BC AFCR-

XX

2(!2I46?(!

G?B AFC BCI>?@> >AIAC[ I\?,C+ AFC ]CA=A=?@ W?B I _B=A ?W JCBA=?BIB= >F?YH[ \C [C@=C[-

)C>]CJAWYHHS >Y\R=AAC[+

*)!.#!" /!"./%1 &1/%. -%.&*"/ %0 )"1%',

)2.%&()!% #- )!"'32"(#$(" $- 4/(5!"&!6$(%/ 3- &2"'("&7"'%)+ #2//%. 8 2/.2" //9:;< &=>>=?@ .ABCCA+ DEAF GH-.I@ GBI@J=>J?+ 6( KLM<:NLM:O :MDPL<<<QB=>A=@-RSHC>TRA?-J?R

&!6$(%/ '- )$2U%. &(##$%V U- 4)2V"/2)! )- &(.2" 622/%1 //9M<M 6IH=W?B@=I .ABCCA+ :AF GH-.I@ GBI@J=>J?+ 6( KLMMMNLM:O ;KXPD<<<

IN THE Supreme Court of the United States -...

Documents

Transcript of IN THE Supreme Court of the United States -...