Nancy_Church State Resistance
12
JOURNAL OF LAW AND SOCIETY VOLUME 34, NUMBER 1, MARCH 2007 ISSN: 0263-323X, pp. 3±13 Church, State, Resistance 1 Jean-Luc Nancy This article problematizes a separation of Church and State that is nevertheless identified as constitutive of politics. Democracy has come to manifest a tension between the `autonomy' of the political and a `heteronomy' that, exceeding rationalist or social contractarian accounts of our co-existence, is here presented as an irreducible affect of our being together. Autonomy, it is argued, resists heteronomy through all representations of democracy; yet, by contrast, heteronomy resists autonomy, and does so with the force of this affect. So if civil religion is impossible ± and if we know only too well where its realizations lead: by default, to republican celebration, or by excess, to fascism ± then we must take up again, and from scratch, the question of the affect according to which we co-exist. I The separation of Church and State is the expression, linked in France to the dominant Catholic Church, for the complete distinction of competences, laws [droits] and powers between the religious order be it ecclesiatical or otherwise constituted) and the political order. It is understood that in any civil or public matter the political order prevails; while in any religious matter ± henceforth considered as private or as having to do with the intimacy of conscience ± the authority exercised is defined by a religious body [instance] to which everyone is free to adhere. Today this separation is recognized as a given of democracy, whatever the precise form of its enunciation in public law and even where, as in England, there exists a very particular situation which may seem, but which is not really, one of non-separation). The constitutional and/or institutional affirma- 3 ß 2007 The Author. Journal Compilation ß 2007 Cardiff University Law School. Published by Blackwell Publishing Ltd, 9600 Garsington Road, Oxford OX4 2DQ, UK and 350 Main Street, Malden, MA 02148, USA * Universite  de Strasbourg, 22 rue Rene  Descartes, 67084 Strasbourg, France [email protected] 1 Translated by Ve Âronique Voruz, Lecturer in Law at Leicester University, and Colin Perrin, Commissioning Editor with Routledge.
description
Nancy_Church State Resistance
Transcript of Nancy_Church State Resistance
������� �� �� �� ��� ��������� ��� ������ �� ����� ���� ���� ���������� ! �"��
������� ���� �� �����
�������� ���
���� ����� ��� ������ � ��������� �� ������ ��� ���� ���� ��
������� �������� �� ����������� �� �������� �������� ��� ���
�� ������� � ������ ��� �� ���������� �� �� ������� ��� ����������� ����� ������ ���������� �� ����� �������������
�������� �� ��� ���������� �� �� ������ �� �� �������
����� �� ��� ��� ������� �������� �� �� ������ ������ ��������
������� � ������������ �� ��������! ��� � ��������� ��������
������ ��������� ��� ��� �� ���� �� ���� �� ���� ������ �� �� ���������� �� ������� " ��� �� � #��� ��� ��� � ��� ���
���������� ��$ � ������ �� ��� ���� � ������� �� � ����� ��
������� " ��� � ���� ��# �� ������ ��� ���� �������� �� %������ ��
�� ����� ��������� �� ����� � ��������
�#$ %$ &'&()*+ *, �#-'.# &+/ �(&($ )% (#$ $0 '$%%)*+� 1)+2$/ )+ �'&+.$ (* (#$/*3)+&+( �&(#*1). �#-'.#� ,*' (#$ .*3 1$($ /)%()+.()*+ *, .*3 $($+.$%�1&4% 5������6 &+/ *4$'% 7$(4$$+ (#$ '$1)8)*-% *'/$' 97$ )( $..1$%)&().&1 *'*(#$'4)%$ .*+%()(-($/: &+/ (#$ *1)().&1 *'/$'! ( )% -+/$'%(**/ (#&( )+ &+;.)<)1 *' -71). 3&(($' (#$ *1)().&1 *'/$' '$<&)1%= 4#)1$ )+ &+; '$1)8)*-%3&(($' " #$+.$,*'(# .*+%)/$'$/ &% ')<&($ *' &% #&<)+8 (* /* 4)(# (#$)+()3&.; *, .*+%.)$+.$ " (#$ &-(#*')(; $0$'.)%$/ )% /$,)+$/ 7; & '$1)8)*-%7*/; 5�������6 (* 4#).# $<$';*+$ )% ,'$$ (* &/#$'$!
�*/&; (#)% %$ &'&()*+ )% '$.*8+)>$/ &% & 8)<$+ *, /$3*.'&.;� 4#&($<$' (#$ '$.)%$ ,*'3 *, )(% $+-+.)&()*+ )+ -71). 1&4 9&+/ $<$+ 4#$'$� &% )+ �+81&+/�(#$'$ $0)%(% & <$'; &'().-1&' %)(-&()*+ 4#).# 3&; %$$3� 7-( 4#).# )% +*('$&11;� *+$ *, +*+�%$ &'&()*+:! �#$ .*+%()(-()*+&1 &+/?*' )+%()(-()*+&1 &,,)'3&�
�
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1! @-71)%#$/ 7; �1&.24$11 @-71)%#)+8 �(/�
A��� B&'%)+8(*+ �*&/� �0,*'/ ��� �C� �D &+/ �E� �&)+ �('$$(� �&1/$+� �� ����F� ���
G &�������' � ����� ����� (( �� )�' �������� *+,-. ����� ����� /���������0�� �������� ����
� �'&+%1&($/ 7; �$H'*+)I-$ �*'->� �$.(-'$' )+ �&4 &( �$).$%($' �+)<$'%)(;� &+/ �*1)+@$'')+� �*33)%%)*+)+8 �/)(*' 4)(# �*-(1$/8$!
()*+ &+/ )3 *%)()*+ *, (#$ .*+%-7%(&+()&1)(; *, '$1)8)*+ &+/ �(&($ .*+('&<$+$%(#$ 8$+$'&1 '-1$% *, /$3*.'&.; &+/ (#$ '-1$ *, 1&4 51��� � �����6 " %)+.$� '$.)%$1;� 1&4 3-%( $%(&71)%# &3*+8 *(#$' (#)+8% (#$ )+/$ $+/$+.$ *,'$1)8)*+% &+/ (#$ & '* ')&($ .*+/)()*+% (* 7$ 1&.$/ - *+ (#)% )+/$ $+/$+.$�)+ (#$ %&3$ 4&; (#&( )( 3-%( $%(&71)%# (#$ .*+/)()*+% ,*' ,'$$/*3 *, (#*-8#(&+/ *, $0 '$%%)*+!
$ &'$ -%$/ (* .*+%)/$')+8 (#)% %$ &'&()*+ 7$(4$$+ �#-'.# &+/ �(&($ &%&+ &.#)$<$3$+( *, 3*/$'+ /$3*.'&.;! �#)% )% +*( 4'*+8 )+ %* ,&' &% (#$J-')/).&1 )+%.') ()*+ *, (#)% %$ &'&()*+ )% )+/$$/ '$.$+( )+ #)%(*'; 9+*(4)(#�%(&+/)+8 .$'(&)+ /$(&)1% (#&( 4$ 4)11 $+.*-+($' 1&($':! �-( )( )% %()11 +$.$%%&';(* '$.&11 (#&( (#)% %$ &'&()*+� *' &( 1$&%( )(% ')+.) 1$ &+/ )(% .*+/)()*+ *, *%%)7)1)(;� & $&' &( (#$ <$'; 7$8)++)+8 *, *1)().%� )+ B'$$.$! ( )% +$.$%%&';(* '$.&11 (#)% 7$.&-%$� (* 8* %('&)8#( (* (#$ *)+(� )( 3$&+% (#&( (#$ %$ &'&()*+*, �#-'.# &+/ �(&($ )% +*( *+$ *1)().&1 *%%)7)1)(; &3*+8 *(#$'%� 7-( &.*+%()(-()<$ $1$3$+( *, *1)().% &% %-.# " ), 4$ &8'$$ (* 8)<$ (#)% ($'3 (#$%$+%$ /$')<$/ ,'*3 )(% B'$$2 *')8)+� '&(#$' (#&+ & <&8-$ &+/ /)%($+/$/ %$+%$4#).# 4*-1/ $+.*3 &%% &+; *%%)71$ 2)+/ *, *'8&+)>&()*+ *, (#$ .*11$.()<)(;!
�*' %-'$� (#$ ����� (#$ .)(;� #&% )(% *4+ '$1)8)*+� .$1$7'&($% )(% *4+ ')($% &+/&1%* 3&2$% '**3 ,*' *(#$' 1$%% -71). *' 1$%% K.)<). 5�������6L ,*'3% *,4*'%#) 5����6! �$( )+ )(% ')+.) 1$� )+ )(% <$'; 7$)+8 &% ����� (#$ .)(;%- *%$% & ,-+/&3$+(&1 '- (-'$ 4)(# &+; 2)+/ *, (#$*.'&.;� 4#$(#$' /)'$.(*' )+/)'$.(! �'*3 �')%(*(1$� &+/ $<$+ @1&(*� (* �&.#)&<$11) &+/ �*/)+�4)(#*-( &4&)()+8 (#$ 3*'$ *,,).)&1 &+/ 3*'$ 3*/$'+ ,*'3% *, %$ &'&()*+57$(4$$+ �#-'.# &+/ �(&($6� (#)% ')+.) 1$ )% <$'),)$/� *1)().% $+.*3 &%%$%&+; 2)+/ *, K�.'&.;L $0.$ ( (#$*.'&.;! �$.) '*.&11;� (#$*.'&.; $+.*3 &%%$%&+; 2)+/ *, %*.)$(&1 *'8&+)>&()*+ (#&( '$%(% *+ & '$1)8)*-% ')+.) 1$� $0.$ ( *1)().% " $<$+ 4#$'$ (#$ 1&(($' %$$3% (* )+.1-/$ & '$1)8)*-% /)3$+%)*+! �#$%(&2$% &'$ #)8#� )+ ')+.) 1$� 4#&( )% (#$ .&%$ ,*' '$1)8)*+ )% +*( (#$ .&%$ ,*','$$/*3 *, (#*-8#(! �$1)8)*+ )% +*( ,)'%( *, &11 & ������ '$,$'$+.$= )( )% &3*/$ *, '$ '$%$+()+8 &+/ *'8&+)>)+8 7*(# $'%*+&1 &+/ .*11$.()<$ $0)%($+.$!�#$'$,*'$� '$1)8)*+ )% +*(#)+8 7-( (#$ *(#$' .*11$.()<$ *' .*33-+)(&')&+ *%%)7)1)(;� 7$%)/$% (#&( .*+%()(-($/ 7; *1)().%! �#$ %$ &'&()*+ *, �#-'.# &+/�(&($ %#*-1/ 7$ .*+%)/$'$/ &% (#$ *+1; ('-$ &.( (#&( 8)<$% 7)'(# 5��� ���������6 (* *1)().%!
�#$ ���� '$%(% ,)'%(1; *+ (#$ ,&.( (#&( )( 8)<$% )(%$1, )(% *4+ 1&4 5��6! ( .&+)+<*2$ & '$%.') ()*+ *' & /)<)+$ 8-&'&+($$ ,*' (#)% 1&4= 7-( )( )% (* (#$ ����)(%$1, (#&( (#$ /$($'3)+$/ $%(&71)%#3$+(� ,*'3-1&()*+� *7%$'<&()*+� &+/)3 '*<$3$+( *, 1&4 7$1*+8%! + (#)% '$% $.(� +*(#)+8 )% 3*'$ )+%('-.()<$(#&+� *+ (#$ *+$ #&+/� (#$ /)% 1&.$3$+( &+/ '*8'$%%)<$ &7&+/*+3$+( *,<&')*-% ,*'3% *, (')&1 7; *'/$&1 &+/� *+ (#$ *(#$' #&+/� (#$ /$<$1* 3$+(�4#).# '$/&($% (#$ ���� )(%$1, 9)+ �&7;1*+ )+ &'().-1&':� *, .*/$% *, '* $'(;
�
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
&+/ $0.#&+8$ 9('&/$� )+#$')(&+.$� &+/ %* *+: 4#).# (#$3%$1<$% &+().) &($ &'( *, (#$ 8$+$'&1 ��������� - *+ 4#).# (#$ .)(; 4)11 .*3$ (* '$1;!
�#$ *1)().&1 5 �����%�6 " ), 4$ .&+ -%$ (#)% 5�������6 ($'3 (* /$%)8+&($&+ $%%$+.$ *' ')+.) 1$ " )% &-(*+*3; 7; /$,)+)()*+ &+/ 7; %('-.(-'$!�#$*.'&.;� )+ (#$ %$+%$ 4$ #&<$ J-%( 8)<$+ )( &% (#$ *(#$' *, *1)().% "'$ '$%$+(%� *+ (#$ .*+('&';� #$($'*+*3; 7; /$,)+)()*+ &+/ 7; %('-.(-'$!�&+),$%(1;� &-(*+*3; .&++*( 7-( '$%)%( #$($'*+*3;� &+/ '$.) '*.&11;! +8$+$'&1� 4$ .&+ $<$+ %&; (#&( &+; ,*'3 *, *1)().&1 *' 3*'&1 '$%)%(&+.$ )3 1)$%& '$1&()*+ 7$(4$$+ &+ &-(*+*3; &+/ & #$($'*+*3;= )(% 3*%( &-(#$+(). ,*'3,*' -% 9 $'#& % $<$+ )(% *+1; &-(#$+(). ,*'3: 7$)+8 (#$ '$%)%(&+.$ *, &-(*+*3;" )+/)<)/-&1 &% 4$11 &% .*11$.()<$ " (* &+; 2)+/ *, #$($'*+*3;!
�+/$' (#$%$ .*+/)()*+%� (#$ '$1)8)*+ " 4#$'$ (#$'$ )% *+$ " (#&( )% '* $' (*(#$ .)(; #&% & /*-71$ &% $.(! �+ (#$ *+$ #&+/� )( & $&'% &% & %-'<)<&1 *, &+/&% & %-7%()(-($ ,*' (#$*.'&(). '$1)8)*+! �<$';(#)+8 (&2$% 1&.$ #$'$ &% ), (#$���� /)/ +*( ;$( 2+*4 #*4 (* *'8&+)>$ 5�������6 )(% '$1&()*+%#) (* (#$ <$'; ')+.) 1$ *, )(% )+%()(-()*+ " 1$( -% %&; (* (#$ ,*-+/)+8 &-(#*')(; " 4)(#*-( (#$.-%(*3&'; ,*'3� 4#).# )+ '$&1)(; )% +*( *1)().&1� *, & '$.*-'%$ (* (#$ /)<)+$!�'*3 (#)% $'% $.()<$� &+/ 4#&($<$' )(% '$.)%$ ,*'3� (#$ %$ &'&()*+ *,�#-'.# &+/ �(&($ )% (#$ 1*8).&1 *-(.*3$ " #*4$<$' '$3*($ )+ ()3$ )( )% *'3&; %$$3 (* 7$ " *, (#$ *1)().&1 )+<$+()*+! �% %-.#� .)<)1 &-(*+*3; )%%$ &'&($/ 4)(#*-( &37)8-)(; ,'*3 '$1)8)*-% #$($'*+*3;!
�+ (#$ *(#$' #&+/� (#$ '$1)8)*+ *, (#$ ���� ($+/%� *+ (#$ .*+('&';� (*.*+%()(-($ )(%$1, &% & % $.),). '$1)8)*+� /)%()+.( ,'*3 (#$ K'$1)8)*+ *, (#$ ')$%(%L� (* -%$ (#$ $0 '$%%)*+ (#'*-8# 4#).# D&+( %$$2% (* /)%()+8-)%#'$1)8)*+ )+ (#$ *'/)+&'; %$+%$ ,'*3 (#&( 4#).# #$ -(% (* 4*'2 K4)(#)+ (#$1)3)(% *, %)3 1$ '$&%*+L! �#)% '$1)8)*+ -' *'(% (* 7$ *1)().&1 ��� '$1)8)*-%�7-( '$1)8)*-% )+ %* ,&' &% *1)().&1� &+/ +*( (#$ *(#$' 4&; &'*-+/!
+ %*3$ '$% $.(% &( 1$&%(� (#)% )% &1'$&/; (#$ .&%$ 4)(# (#$ '$1)8)*+ *, �(#$+%�& .)(; (#&( /*$% +*( 7$&' (#$ +&3$ *, )(% (-($1&'; 8*//$%% 7; .#&+.$! �+/ (#)% )%$<$+ 3*'$ <)%)71; (#$ .&%$ 4)(# (#$ '$1)8)*+ *, �*3$� 4#).# '*7&71; '*<)/$%(#$ 3*%( &..*3 1)%#$/ $0&3 1$ )+ 4$%($'+ #)%(*'; *, & '$1)8)*+ (#&( )%%*3$#*4 .*+%-7%(&+()&1 4)(# (#$ .)(; &+/ �(&($ " (* (#$ *)+( (#&( (#$ �&()+4*'/ ������ 4#).# 4$ )+#$')( (* +&3$ & #$+*3$+*+ (#&( *+1; �*3$ +&3$/&% %-.#� *,,$'% & %$+%$ 4#).# )% .*+%-7%(&+()&11; J-')/).*� *1)().&1 &+/ '$1)8)*-%�4#$(#$' 4$ -+/$'%(&+/ (#)% &..*'/)+8 (* (#$ $(;3*1*8; *, %.'- -1*-%*7%$'<&+.$ *' &..*'/)+8 (* (#$ 3*'$ -+.$'(&)+ $(;3*1*8; *, (#$ $%(&71)%#3$+(*, & 7*+/!
#&( /*$% (#$ �*3&+ '$1)8)*+ %)8+),; &% & *1)().&1� .)<). *' .)<)1 '$1)8)*+M ( %)8+),)$% (#$ )+.1-%)*+ *, &-(*+*3; )+ & #$($'*+*3; 4#).#� 4)(#*-(%-7<$'()+8 (#)% &-(*+*3;� 8)<$% )( (#$ /*-71$ /)3$+%)*+ *, & ('&+%.$+/$+.$&+/ & ,$'<*-'! K�*3$L ('&+%.$+/% )(% *4+ &-(*+*3*-% )33&+$+.$= (#$
E
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
�*3&+ 7*/; *1)(). 9������ 2����� 3� )������: )% 3*'$ &+/ %*3$(#)+8*(#$' (#&+ (#$ $,,$.()<$ $0)%($+.$ *, (#$ &%%$371$/ �*3&+%� *, (#$)' 1&4% &+/(#$)' )+%()(-()*+%! �#-%� ,*' $0&3 1$� (#$ �*3&+ �$ -71). )% &71$ (* (&2$ - (#$ 1$8$+/&'; )+#$')(&+.$ *, (#$ 2)+8% 4#* '$.$/$/ )(� )( )% 7; <)'(-$ *, (#$%&3$ ('-(# " *, K�*3$L� '$.)%$1; " (#&( (#$ �$ -71). ')/$% )(%$1, *+ #&<)+8%- 1&+($/ '*;&1(;� &+/ (#&( (#$ 2)+8% &'$ <$+$'&($/ &% &+.$%(*'% &+/ '$.-'%*'% *, (#$ '$ -71).&+ 1&4!
�*3$ #&% &( )(% /)% *%&1 & #$($'*+*3; �� )(% *4+ &-(*+*3;� *' &('&+%.$+/$+.$ *, )(% *4+ )33&+$+( ')+.) 1$! #$(#$' (#)% �*3&+ 3*/$1/*$% *' /*$% +*( %(').(1; .*+,*'3 (* (#$ '$&1)(; *, #)%(*'; 3&(($'% 1$%% #$'$(#&+ (#$ ,&.( (#&( �*3$ 4&% &71$ (* .'$&($ (#)% )3&8$ *, )(%$1, &+/ (* 1$&<$ )(%$,,)8; (* *%($')(;� %-.# (#&( (#$ $0$3 1&')(; *, (#$ �*3&+ 3*/$1 4&%'$8-1&'1; )+<*2$/ 7; (#$ �'$+.# �$<*1-()*+ &% 3-.# &% 7; (&1)&+ ,&%.)%3� (*3$+()*+ (#$ 3*%( ,&3*-% &+/ (#$ 3*%( '$ '$%$+(&()<$ .&%$%! �#)% 3*/$1 4&%.#&'&.($')>$/ 7; (#$ $0$3 1&')(; *, �*3&+ .)<). <)'(-$� *, & ()8#( .*3�7)+&()*+ *, J-')/).&1 *7%$'<&+.$ &+/ & &(')*(). .-1(� &+/ *, (#$ '$ '$%$+(&()*+*, (#$ �$+&($ &% &+ K&%%$371; *, D)+8%L 9�')$/').# �.#1$8$1:� 3)0$/ 4)(# (#$$0$3 1&')(; *, &+ -'7&+ 3&+&8$3$+( (#&( 4&% &% %*.)&1 &% )( 4&% $.*+*3).�*, &+ &'3; 3*'$ +&()*+&1 (#&+ $<$' 7$,*'$ )+ &+()I-)(;� &+/ ,)+&11; 4)(# (#$����� &' $0.$11$+.$� (#$ 3&8)%('&($� ')$%( 4#*%$ +&3$ " ������� "
.&'')$% & /*-71$ 3$&+)+8� & /-&1 %&.'&1 &+/ .)<)1 8$+)-%!
�
�#$ )3 *'(&+.$ *, (#$ �*3&+ $0&3 1$ '$<$&1% #*4 3-.# 4$ #&<$ 4&+($/ (*&%%*.)&($ 4)(# (#$ )3&8$ *, B'$$2 /$3*.'&.; " $%%$+()&11; '$ '$%$+($/ 7;(#$ &8*'& &+/ (#$ ,'$$ /)%.-%%)*+ *+ J-%().$ 4#).#� ,*' �')%(*(1$� .*+%()(-($%(#$ �����#�� .#&'&.($' *, (#$ #-3&+ ��4�� " (#$ )3&8$ *, & '$1)8)*-% '$&1)(; *,(#$ -71). (#)+8 5�� �� ���6� &+($')*' (* &+; % &.$ &+/ &+; &'().-1&()*+ *,'$1&()*+! #&( /*$% )( 3$&+ (#&( 4$ #&<$ K4&+($/L (#)% M �&<$ 4$ /$%)'$/ )(�&+/ 4#;M �&<$ 4$ ,$1( )( &% & +$$/ )+#$'$+( (* (#$ -71). (#)+8 )(%$1, ,'*3 (#$3*3$+( (#&( )( &-(*+*3)>$% )(%$1, " &+/ 4#$'$ /*$% (#)% +$$/ .*3$ ,'*3M ()% '*7&71; +*( *%%)71$ " &( 1$&%( +*( +*4 " (* &+%4$' &11 (#$%$ I-$%()*+%!�-( (* 7'*&.# (#$ *1)().&1 I-$%()*+ )+ &11 )(% 7'$&/(# " &% )( )% '$<$&1$/ (* -%(*/&; " )( )% +$.$%%&'; (* -+/$'1)+$ (#$ $0($+( (* 4#).# (#$ )3&8$� )/$& *'%.#$3$ *, & K.)<)1 '$1)8)*+L -+/$' )+% 3*'$ *' 1$%% .*+%.)*-%1; *-' ')+.) &1'$ '$%$+(&()*+% *, (#$ *1)().&1!
�#)% )+ ,&.( )% #*4 *+$ %#*-1/ -+/$'%(&+/ (#$ �.#3)(()&+ 3*(), *,K *1)().&1 (#$*1*8;L! �<$+ ), �&'1 �.#3)(( /*$% +*( #)3%$1, &%2 (#$ I-$%()*+*, .)<)1 '$1)8)*+ " )''$% $.()<$ *, (#$ ,&.( (#&( #$ ,$1( $+()(1$/ (* ,)+/ %*3$%-)(&71$ $I-)<&1$+( *, #)% K(#$*1*8).&1L 3*/$1 )+ �&>)%3 " *' $'#& % $0&.(1;7$.&-%$ #$ /*$% +*( &%2 (#)% I-$%()*+ &% %-.#� #)% ')8*'*-% (#*-8#( *,%*<$'$)8+(; %#*4% (#&( '$.*-'%$ (* (#$ '$1)8)*-% '$3&)+% *' *7%.-'$1; '$(-'+%&( (#$ #*')>*+ *, (#$ *1)().% *, (#$ �*/$'+%! �&)1)+8 %-.# '$.*-'%$� 4#).#
�
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
(#$ )/$& *, & K�$ -71).L� )+ )(% �'$+.# ,*'3 )+ &'().-1&'� 4)11 #&<$ 2$ ( &1)<$-+()1 ;$%($'/&; 9(* %&; +*(#)+8 #$'$ *, (#$ 3*/$1 *, (#$ �+)($/ �(&($% *,�3$').&� *, �&7$'3&%L% .*+%()(-()*+&1 &(')*()%3� *, $<$';(#)+8 (#&( .*-1/7$ &+&1;%$/ )+ (#$ �& &+$%$ &+/ �#)+$%$ '$&1)()$%� )+ (#$ .*+%()(-()*+&13*+&'.#)$% *, �-'* $� &+/ %* *+:� )( %$$3% (#&( (#$ *1)().&1 )% /$%()+$/ (*4)(#/'&4 5�����6 (#$ $%%$+.$ 4$ &%%-3$/ )( (* #&<$� 1$&<)+8 )( (* /)%%*1<$)(%$1, )+ K3&+&8$3$+(L &+/ )+ (#$ K *1).$L� 4#).# #$+.$,*'(# & $&' (* -% &%(#$ 3)%$'&71$ '$3+&+(% *, 4#&( *1)().% .*-1/ *' %#*-1/ #&<$ /*+$!
�&'0 4&% ')8#( (* 1)+2 (#$ .')()I-$ *, '$1)8)*+ (* (#&( *, *1)().%! �#$ *)+(,*' #)3� &( 1$&%( &..*'/)+8 (* #)% ,)'%( &+/ ,*-+/)+8 )+% )'&()*+� 4&% (* -+/* *1)().&1 % $.),).)(; &+/ %- '$%% )(% %$ &'&($ $0)%($+.$ 9K(#$ �(&($L:� 3-.# &%(#$ .')()I-$ *, '$1)8)*+ %#*-1/ %- '$%% (#$ %$ &'&()*+ *, #$&<$+ &+/ $&'(#�7-( )( 4&% )+ *'/$' (* &'')<$ &( & 4*'1/ (#&( 4*-1/ +* 1*+8$' 7$ & 4*'1/K/$<*)/ *, % )')( &+/ #$&'(L! + *(#$' 4*'/%� (#$ ('-$ % )')( &+/ #$&'(� (#$ % )')(&+/ #$&'( *, (#$ ('-$ #-3&+ .*33-+)(; &( 4*'2 )+ (#$ '*/-.()*+ *, 3&+#)3%$1,� 4$'$ (* %-7%()(-($ (#$)' )33&+$+( &-(#$+().)(; ,*' (#$ ,&1%$('&+%.$+/$+.$% *, (#$ *1)().&1 % )')( &+/ (#$ '$1)8)*-% #$&'(!
�% 4$ %$$� *1)().% &+/ '$1)8)*+ 4$'$ (* 7$ %-71&($/ 5������ �6 (*8$(#$'�)+ (#$ %&3$ &+/ -+)I-$ 3*<$3$+(� )(%$1, &'.#$� *1)().&1 &+/ " 7; 4&; *,.*+%$I-$+.$ " &'.#$�'$1)8)*-%= (#$ 3*<$3$+( *, (#$ '$&1 %*.)&1 7$)+8 7$+$&(#&+/ 7$;*+/ )(% *1)().*�'$1)8)*-% '$ '$%$+(&()*+%!
�* $<$';(#)+8 #& $+% &% ), (#$ 8'$&( &1($'+&()<$ *, 3*/$'+)(; #&/ 7$$+�$)(#$' /$,)+)()<$1; $3&+.) &($ *1)().% %* (#&( )( )% $+()'$1; %$ &'&($ ,'*3'$1)8)*+� *' $0 $1 (#$3 7*(#� *-(%)/$ (#$ $,,$.()<)(; &+/ %$')*-%+$%% *, (#$&-(* '*/-.()*+ *, #-3&+)(;! �* $)(#$' *1)().% )% .*+.$)<$/ &% (#$ $,,$.()<)(;*, &-(*+*3; 9 $'%*+&1 &% 4$11 &% .*11$.()<$:� *' *1)().% &+/ '$1)8)*+ (*8$(#$'&'$ '$ '$%$+($/ &% #$($'*+*3*-%� &+/ &-(*+*3; .*+%)%(% )+ ,'$$)+8 *+$%$1,,'*3 (#$3! �$%)%(&+.$ *, (#$ *1)().&1 (* (#$ '$1)8)*-% *' '$%)%(&+.$ (* (#$ *1)().*�'$1)8)*-% 9&+/ )+ (#)% .&%$� '$%)%(&+.$ *, 4#&(� *, 4#*3M �$( -% 1$&<$(#)% I-$%()*+ )+ %-% $+%$:!
�
�#)% &1($'+&()<$ #&/ )(% .*+/)()*+ *, *%%)7)1)(; )+ (#$ %$.*+/ �*3&+ $<$+(�(#$ *+$ 4#).# %-..$$/$/ (#$ �$ -71). &+/ (#$ �3 )'$ )+ %* ,&' &% )( '$(&)+$/%*3$(#)+8 *, (#$ ��� ����! �#)% $<$+( )% +*+$ *(#$' (#&+ �#')%()&+)(; &+/�,'*3 (#$ *)+( *, <)$4 (#&( )+($'$%(% -% #$'$� �#')%()&+)(; 7')+8% +*(#)+8*(#$' (#&+ &+ $%%$+()&1 %$ &'&()*+ 7$(4$$+ �#-'.# &+/ �(&($! + ,&.(� (#)%%$ &'&()*+ )% %* ,-+/&3$+(&1 (#&( )( )% $<$+ ,*-+/&()*+&1� ,*' )( )% )+�#')%()&+)(; (#&( (#)% .*+.$ (-&1 .*- 1$ K�#-'.#?�(&($L )% '* $'1; ,*'�3-1&($/! ( )% ,*'3-1&($/ 4)(# (#$ .*+%()(-()*+ *, (#$ ##'���� & ($'3 (&2$+,'*3 (#$ )+%()(-()*+% *, (#$ B'$$2 .)(; &+/ 4#).# +*4 /$%)8+&($% &+K&%%$371;L &+/ & % $.),). 3*/$ *, 7$)+8 (*8$(#$'� &% /)%()+.( ,'*3 (#$ %*.)&1&+/ *1)().&1 3*/$!
�
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
�1'$&/; 7$,*'$ (#$ .'$&()*+ *, (#$ �#-'.#� *' $<$+ (#$ 1*.&1 .#-'.#$%��#')%()&+)(; '$%$+($/ (4* 3&J*' ,$&(-'$%� (#$ /)%()+.()*+ 7$(4$$+ (4*2)+8/*3% &+/ (#$ .*''$1&()<$ /)%()+.()*+ 7$(4$$+ (4* 1&4%! �#$ D)+8/*3*, B*/ &+/ (#$ 2)+8/*3 *, �&$%&'� (#$ 1&4 *, �*%$% 9K(#$ 1&4 *, %)+L&..*'/)+8 (* @&-1: &+/ (#$ 1&4 *, �$%-% *' (#$ 1&4 *, 1*<$ 9K(#$ 1&4 *,,'$$/*3L &..*'/)+8 (* �&3$%:! �$)' (* & /$#)%.$+.$ 4#).# & $&'$/ 4)(#)+�-/&)%3� �#')%()&+)(; .*+%()(-($% & 3&J*' *1)().&1 $<$+( " *' &+ $<$+( )+'$1&()*+ (* (#$ *1)().&1� )+ (#$ %&3$ * $'&()*+� )( ')8*'*-%1;� *+(*1*8).&11;%$ &'&($% (#$ *1)().&1 ,'*3 (#$ '$1)8)*-% 9%)+.$ (#$'$ &'$ (4* K4*'1/%L� &+/,*' )(% &'( (#)% /)<)%)*+ $+(&)1% 8'$&( '$1)8)*-% .*+%$I-$+.$%:! �+/ ,-'(#$'�)+ & &'&/*0).&1 8$%(-'$� )( .*+%()(-($% (#$ '$1)8)*-% )(%$1, *+ (#$ *1)().&13*/$1 *, (#$ 2)+8/*3 *' *, (#$ .)(; 9K2)+8/*3L )+ (#$ B*% $1%� K.)(;L ,*'�-8-%()+$:!
�#$ *')8)+ *, (#)% $+()'$1; +*<$1 ,*'3&()*+ )+ (#$ '$1)8)*-% *'/$' )% (* 7$,*-+/ )+ (#$ 3$&+)+8 5�������������6 *, �$%%)&+)%3� 4#$'$ (#$ �$%%)&# 4&%$0 $.($/ (* '$%(*'$ (#$ 2)+8/*3 *, %'&$1� #$ 7$.*3$% (#$ )+%(&-'&(*' *, &+$+()'$1; /),,$'$+( D)+8/*3� 4#).# (*(&11; $%.& $% +&(-'$ &+/ (#$ 1&4% *, (#$#-3&+ 2)+8/*3! �' '&(#$'� )( )% *+1; )+ (#)% 4&; (#&( (#$ *1)().&1 )% -+<$)1$/&% & #-3&+ *'/$'� *+1; #-3&+ &+/ K&11 (** #-3&+L! ! !
�'*3 (#$+ *+ .)<)1 '$1)8)*+ )% )3 *%%)71$! �11 3&++$' *, &11)&+.$% 4)117$.*3$ *%%)71$ 7$(4$$+ �#-'.# &+/ �(&($! �+/ &% 4$ 2+*4� )( )% $<$+ 7;4&; *, (#$ .*+<$'%)*+ *, (#$ �3 )'$ (* (#$ +$4 '$1)8)*+ (#&( & +$4 &8$7$8)+%� &+ &8$ (#&( 4)11 2+*4 (#$ /*-71$ /$%()+; *, (#$ �3 )'$ 7$(4$$+(#$ �')$+( &+/ (#$ �..)/$+(� &..*'/)+8 (* & /*-71$ &'().-1&()*+ *, (#$'$1&()*+ 7$(4$$+ (#$ (4* 2)+8/*3%! �()11� (#$ ,-+/&3$+(&1 ')+.) 1$ *, (#$#$($'*8$+$)(; *, (#$ (4* *'/$'% 4)11 +$<$' 7$ ,-+/&3$+(&11; .&11$/ )+(*I-$%()*+!
9 + &%%)+8 #$'$� (#)% )% &1%* 4#; &+ )3 *'(&+( &% $.( *, (#$ ('&/)()*+ *'(#$ /)<$'%$ ('&/)()*+% *, %1&3 #&% (* /* 4)(# (#$ '$1&()*+ 7$(4$$+ ($3 *'&1&+/ % )')(-&1 &-(#*')()$% " & ,*'3-1&()*+ 4#).# )% *+1; *%%)71$ ������� ����)+ & �#')%()&+ ($'3)+*1*8;!:
�#$ %$ &'&()*+ *, �#-'.# &+/ �(&($ (#&( /$3*.'&.; .&3$ (* '*/-.$ )% )+& 4&; (#$ /)'$.( .*+%$I-$+.$ *, (#$ /*-71$ '$8)3$ )+%()(-($/ 7; �#')%()&+)(;�& /*-71$ '$8)3$ (#&( &( (#$ %&3$ ()3$ /)% 1&.$/ (#$ *'/$' *, (#$ .)(; &+/ (#$*'/$' *, '$1)8)*+! �#)% /)% 1&.$3$+( )(%$1, )+($'<$+$/ &% (#$ .*+%$I-$+.$ "#$'$ &8&)+� )+ & 4&; /)'$.( " *, (#$ '$.&')*-% &+/ &14&;% '$ $&($/1;/$%(&7)1)>$/ %)(-&()*+ )+ (#$ &+.)$+( 4*'1/ *, (#$ .)(; $+/*4$/ 4)(# .)<)1'$1)8)*+!
�
( )% +*( %-' ')%)+8 -+/$' (#$%$ .*+/)()*+% (#&( (#$ 3*/$'+ (#*-8#( *, (#$ *1)().&1 %#*-1/ #&<$ &%%$/ (#'*-8# (4* /$.)%)<$ %(&8$% 4)(# '$8&'/ (* (#$'$1&()*+%#) 7$(4$$+ (#$ �(&($ &+/ '$1)8)*+!
F
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
�#$ ,)'%( %(&8$ )% (#$ )+<$+()*+ *, %*<$'$)8+(;! �'*3 �&.#)&<$11) (* �*/)+" &+/ 4)(#*-( 4&+()+8 (* *<$'�<&1*')>$ (#$ 3*(), *, & .$'(&)+ .*+()+-)(; ,'*3*+$ (* (#$ *(#$' " )( )% .1$&' (#&( (#$ .$+('$ *, 8'&<)(; *, (#$ *1)().&1 '*71$3#&% +*( .$&%$/ (* 3*<$ (*4&'/% & '*,&+$� ($3 *'&1 &+/ $<$+ &(#$)%(� (* -%$�&;1$L% 4*'/ &7*-( �*/)+ " .*+/)()*+ *, (#$ �(&($! �#$ <$'; +*()*+ *,K�(&($L� 4)(# )(% <&1-$ *, $%(&71)%#3$+( &+/ %(&7)1)(;� ($%(),)$% (* (#$ +$.$%%)(;*, /)%.*<$')+8 & ')+.) 1$ *, 8'*-+/)+8 5������� �������6 &+/ *, %*1)/)(;4#$'$ &+ &7%*1-($ ,*-+/&()*+ 5�������6 )% /$,)+)()<$1; 1&.2)+8! �#$$0 '$%%)*+ K&7%*1-($ 3*+&'.#;L� &1(#*-8# )( )% & 1)$/ (* '$8)3$% %-''*-+/$/7; $..1$%)&%().&1 &+/ (#$*1*8).&1 8-&'&+($$%� % $&2% ,*' )(%$1,� (#$%*<$'$)8+(; *, (#$ 3*+&'.#� (#&( )%� *, (#$ �(&($� .&++*( 7; /$,)+)()*+/$ $+/ - *+ &+; &-(#*')(; *(#$' (#&+ )(%$1,� &+/ )(% '$1)8)*-% .*+%$.'&()*+/*$% +*(� /$% )($ & $&'&+.$%� .*+%()(-($ )(% *1)().&1 1$8)()3&.;!
�#$ %*<$'$)8+ �(&($ )% (#$ �(&($ (#&( 3-%( /$')<$ )(% 1$8)()3&()*+ ,'*3)(%$1,! )(#*-( $<$+ $3 #&%)>)+8 #*4 $%%$+()&1 (#$ ')8#( (* /$.)/$ (#$ %(&($*, $0.$ ()*+ 9&..*'/)+8 (* 4#).# �.#3)(( /$,)+$% %*<$'$)8+(;: )% )+ (#)%.*+($0(� 4$ #&<$ (* &.2+*41$/8$ (#&( ��������� &% (#$ ')+.) 1$ *, (#$ *1)().&1� #$'$ 3&2$% )(% 3&J*' /$3&+/� )( 3-%( *' )( %#*-1/ )+ *+$ 4&; *'&+*(#$' ,*-+/� &-(#*')>$� &+/ 8-&'&+($$ )(% *4+ 1&4 7; )(% *4+ 3$&+%! % (#)% *%%)71$ )+ &+; *(#$' 4&; (#&+ 7; )+<*2)+8 (#$ +$.$%%)()$% *, %$.-')(; 7*'+ *,(#$ 4$&2+$%% &+/ (#$ #*%()1)(; *, 3$+M �-( .&+ %-.# +$.$%%)()$% ,*-+/ 3*'$(#&+ &+ $0 $/)$+( " *' $<$+ )+ %*3$ .&%$%� 3*'$ (#&+ & -%-' $/ &-(#*')(; ,*'(#$ %*1$ 8**/ *, %*3$M �#-% 4$ %$$ /$1)+$&($/ (#$ 8$+$'&1 %.#$3$ *, (#$ *1)().&1 '*71$3&(). ,'*3 (#$ .1&%%).&1 &8$ *+4&'/%!
�#$ %$.*+/ %(&8$ )% +*+$ *(#$' (#&+ (#$ /$3&+/ ,*' & .)<)1 '$1)8)*+ &%,*'3-1&($/ 7; �*-%%$&-! #&( )% (#)% &7*-(M �* '$+/$' K $'.$ ()71$ (* (#$#$&'(% *, .)()>$+%L &11 *, (#$ '-1$% &+/ .*+/)()*+% /$/-.$/ ,'*3 (#$ ('&+%.$+�/$+(&1 /$/-.()*+ *, (#$ %*.)&1 .*+('&.(! #; (#)% +$$/ ,*' & % $.),). &,,$.()<)(;M#;� ), +*( 7$.&-%$ (#$ &,,$.( 4&% $0.1-/$/ ,'*3 (#$ .*+('&.( " (#$ <$'; +*()*+*, 4#).# )3 1)$% '&()*+&1)(;� 7-( +*( ,$'<*-'� +*' /$%)'$� +*' %$+()3$+(!
$% )($ & $&'&+.$%� �*-%%$&-L% .)<)1 '$1)8)*+ )% +*( %*3$(#)+8 &//$/ )+(#$ 3&++$' *, & 3*'$ *' 1$%% 8'&(-)(*-% *'+&3$+( (* (#$ $/),).$ .*+%('-.($/7; (#$ .*+('&.(! �+ (#$ .*+('&';� )( .*3$% (* ('; &+/ '$ &)' (#$ )+(')+%). ,1&4*, (#$ .*+('&.(� 4#).# /*$% +*( 2+*4 #*4 (* 7')+8 &7*-( & '$8)3$ *,&%%$371; 5�'��� ������ ���6 *(#$' (#&+ *+ (#$ 7&%)% *, )+($'$%( " $<$+&% (#)% .*+('&.( ,*'3% 3&+ #)3%$1, &( (#$ %&3$ ()3$ &% )( ,*'3% (#$ .)()>$+!9�% (* (#$ '*($%(&+( %*-'.$ *' '*<$+&+.$ *, (#)% .)<)1 '$1)8)*+� )( *7<)*-%1;/$%$'<$% & /$<$1* 3$+( 4#).# 4)11 #&<$ (* (&2$ 1&.$ $1%$4#$'$!:
�
�% 4$ 2+*4� �*-%%$&-L% .)<)1 '$1)8)*+ '$3&)+$/ & /$&/ 1$(($'! �( 1$&%(� 8)<$*' (&2$ & ,$4 (#)+8%� )( '$3&)+$/ & /$&/ 1$(($' &% (* (#$ $0$.-()*+ *,�*-%%$&-L% '*8'&33$! ( +$<$'(#$1$%% 1$,( (4* ('&.$% (#&( &'$ 7*(# /-'&71$
A
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
&+/ '*71$3&().� -+/$' (#$ /-&1 8-)%$% *, K,'&($'+)(;L &+/ K%$.-1&')%3L5�����'6!
�)2$ (#$ K%$ &'&()*+ *, �#-'.# &+/ �(&($L� (#$ *1)().&1 %$+%$% *,K,'&($'+)(;L &+/ K%$.-1&')%3L 5�����'6 .*+%()(-($ & �'$+.# % $.),).)(;! �$(� &%4)(# K%$ &'&()*+L� *+$ 3-%( )+($' '$( (#$3 7'*&/1; &+/ &% /$%)8+&()+8+*()*+% *, 8$+$'&1 <&1-$ ,*' (#$ .-''$+( '$ '$%$+(&()*+ *, /$3*.'&.;! 9 1$&<$ (#$ (&%2 *, J-%(),;)+8 (#)% &,,)'3&()*+ )+ & 3*'$ /$(&)1$/ 4&; ,*'&+*(#$' ()3$!:
)(# K,'&($'+)(;L� &//$/ &% 4$ 2+*4 &% &+ &,($'(#*-8#( (* (#$ 3*((* *, (#$�'$+.# �$ -71).� 4$ &'$ ,&.$/ 4)(# (#$ '$%)/-&1 3)+)3-3 *, (#$ *1)().&1&,,$.(! �#)% )% &1%* (* %&; 4)(# (#$ 3)+)3&1 ,*'3 *, & 1&($+( I-$%()*+� 3*'$ *'1$%% .1$&'1; '$%-'8$+(� &7*-( (#$ ,*'.$ *, &,,$.( %- *%$/ 7; (#$ %)3 1$%(7$)+8�4)(#! ( )% +*( (#&( (#$ )/$& *, K,'&($'+)(;L +$.$%%&')1; &..*-+(% ,*' )(4$11 " (#)% )% &+*(#$' /$7&($� 4#).# $'')/& '$* $+$/ %$<$'&1 ()3$% )+* *%)()*+ (* �1&+.#*( &+/ 3;%$1,! �<$+ ), 4$ /$7&($ (#$ ($'3� 4#&( 3&(($'%(* 3$ #$'$ )% (#&( )( )% )+ *'/$' (* %-7%()(-($ *(#$' ($'3% 4)(# &+ &,,$.()<$/$+*(&()*+ *' .*++*(&()*+� K,')$+/%#) L� )+ $'')/&L% .&%$� *' $1%$4#$'$K%*1)/&')(;L *' $<$+ K'$% *+%)7)1)(;L� ($'3% 4#).# " &% 4$11 &% )+ (#$ 1&%(&+&1;%)% (#&( *, KJ-%().$L ), 4$ (#)+2 &7*-( )( " .&++*( 7$ $+()'$1; /)<$%($/ *,&+ &,,$.()<$ (*+$! �* %&; )( &% 7')$,1; &% *%%)71$� 4#&( '$%)%(% 4)(#K,'&($'+)(;L )% &,,$.(� &+/ %* %*3$(#)+8 *, &,,$.( '$%)%(%� -+/$' *+$ ($'3 *'&+*(#$'� &( (#$ #$&'( *, (#$ *1)().&1 *'/$' .*+%)/$'$/ &% &+ *'/$' *, )+($8'&1&-(*+*3; " %- *%)+8 (#$ 1&(($' (* 7$ (#)+2&71$ 4)(#*-( &,,$.( 9*' (#)+2&71$&( &11� 4#).# $'#& % &3*-+(% (* (#$ %&3$ (#)+8:!
)(# K%$.-1&')%3L 5�����'6� &+*(#$' &% $.( *, (#$ %&3$ '$%)%(&+.$ 3&+)�,$%(% )(%$1,� +&3$1;� +*( (#$ %*1$ *%%)7)1)(; *, #*1/)+8 (#$ *1)().*�%*.)&1*'/$' $0$3 ( ,'*3 &+; '$1)8)*-% )+($',$'$+.$� +*' (#&( *, .#&'8)+8 (#)% *'/$'4)(# *'8&+)>)+8 (#$ ,'$$ '&.().$ *, 4*'%#) 5����6 &..*'/)+8 (* +$.$%%&';.*+/)()*+%� 7-( 7$;*+/ (#&( " &+/ %*3$4#&( .*+('&/).()+8 (#$ (4* '$.$/)+8 '* *%)()*+% " (#$ +$.$%%)(; *, .*+.$)<)+8 &+/ '&.()%)+8 %*3$(#)+8 1)2$ (#$*7%$'<&+.$ &+/ .$1$7'&()*+ *, (#$ <&1-$%� %;37*1%� &+/ %)8+% *, '$.*8+)()*+4#).# &(($%( (* $<$';*+$L% &/#$%)*+ (* (#$ .*33-+)(; &% %-.#!
�*' %-'$� (#$ '$<)*-% %$+($+.$ .&++*( ,&)1 (* '*/-.$ (#$ %-% ).)*+ (#&(4#&( )% 7$)+8 /$,)+$/ #$'$ )% & 2)+/ *, <&8-$ ,&%.)%3 ! ! ! 7-( 4*-1/ 1)2$ '$.)%$1; (* *)+( *-( (#&( ,&%.)%3%� &+/ 4)(# (#$3 K'$&1L .*33-+)%3% &% 4$11&% %*3$ (; $% *, /).(&(*'%#) � #&<$ 4$11 &+/ ('-1; %$)>$/ - *+ &+ -+$3 1*;$//$%)'$ ,*' (#$ .$1$7'&()*+ *, .*33-+)(;� &+/ (#&( ), (#)% /$%)'$ '$3&)+$/-+$3 1*;$/ " &% )( /*$% (*/&; " )( )% 7$.&-%$ *1)().% 4&% +*( &71$ (* (&2$ )(- ! �#&( )% (* %&;� 7$.&-%$ *1)().% /)/ +*( 2+*4 #*4 (* *' .*-1/ +*( ,-1,)1 (#$)+($+()*+% *' $0 $.(&()*+% 4#).# (#$ 4*'/% K,'&($'+)(;L &+/ K%$.-1&')%3L5�����'6 /$%)8+&($ &% 7$%( (#$; .&+! �'� (* -( (#)% )+ &+ )+<$'($/ ,*'3� 7$.&-%$(#$ 8$+$'&1 )/$& *, (*1$'&+.$� &+/ *, (#$ �(&($ &% & % &.$ *, (*1$'&+.$ '$3&)+%)+,$')*' *' $<$+ ,*'$)8+ (* 4#&( )% ')8#(,-11; $0 $.($/ *, (#$ *1)().&1� +&3$1;�(#$ (&2)+8 - *, & ,*'.$ *, &,,$.( )+#$'$+( )+ 7$)+8�4)(#!
��
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
�
, &-(*+*3; '$%)%(% #$($'*+*3; (#'*-8# &11 '$ '$%$+(&()*+% *, /$3*.'&.;� 7;.*+('&%(� #$($'*+*3; '$%)%(% &-(*+*3; 4)(# (#$ ,*'.$ *, &,,$.(! �#$ &,,$.( )%$%%$+()&11; #$($'*+*3*-%� &+/ $'#& % 4$ %#*-1/ $<$+ %&; (#&( &,,$.( ��#$($'*+*3;!
�#')%()&+)(; -( )+(* $,,$.( & %#&')+8 (#&( (#$ B'$$2 ,*-+/&()*+ *, (#$ *1)().&1 )3 1)$/� (#$ %#&')+8 *, (4* *'/$'% &+/ (4* .)()$%= *+ (#$ *+$ %)/$(#$ *'/$' &+/ (#$ .)(; *, (#$ -%$,-1 &+/ (#$ '&()*+&1 9)+ (#$ '$%(').($/ %$+%$(#&( 4$ 3*'$ *,($+ (#&+ +*( 8)<$ (* (#)% 4*'/:� &+/ *+ (#$ *(#$' %)/$ (#$*'/$' &+/ (#$ .)(; *, & 1&4 4#).# /*$% +*( .&11 )(%$1, (#$ 1&4 *, 1*<$ 7;&..)/$+(!
�*' (#$ 4#*1$ /-'&()*+ *, (#$ .)<)1)>&()*+ 2+*4+ &% �#')%()&+� 1*<$ #&% +*(,&)1$/ (* '$(-'+� &( 1$&%( &% & I-$%()*+� $0)8$+.; *' .*+.$'+ " 4#).# )% (* %&;&1%* &+/ ,-+/&3$+(&11; &% '$%)%(&+.$ " *+ (#$ %)/$ *, (#$ *1)().&1! �#-% (#$%-7J$.(% *, 2)+8% 4$'$ %- *%$/ (* 1*<$ (#$)' %*<$'$)8+%= �$8$1 (#)+2% 1*<$&% (#$ <$'; ')+.) 1$ *, (#$ �(&($= ,'&($'+)(;� &(')*()%3 9- (* &+/ )+.1-/)+8�&7$'3&%L% K.*+%()(-()*+&1 &(')*()%3L:� &+/ +&()*+&1 1)7$'&()*+%= /$3*.'&.;)(%$1, *' (#$ �$ -71). 9�-'* $&+ %(;1$: *' (#$ �&()*+ 9�3$').&+ %(;1$:= &+/ &+-37$' *, 8$+$'*-% '$ '$%$+(&()*+% *, �-'* $� &11 (#$%$ 4)11 #&<$ &3*-+($/(* %* 3&+; $,,*'(% (* (&2$ - &+/ '$&.()<&($ %*3$(#)+8 *, (#)% 1*<$! �*' (#$)+<$+(*'% *, /$3*.'&.;� 1)2$ �*-%%$&- &+/ )+ &..*'/&+.$ 4)(# #)3� &14&;%2+$4 (#&( /$3*.'&.; .*-1/ +*( &7&+/*+ 1*<$ (* (#$ *(#$' 2)+8/*3� &+/ (#&()( %#*-1/ $'#& % $<$+ (&2$ )( - ,*' )(%$1, 4)(#*-( 1$,(*<$'� %)+.$ ,&)1)+8 (#&()( 4*-1/ 7$ 3$'$1; ! ! ! & /$3*.'&.;� (#&( )% (* %&;� & %)3 1$ *'/$' *, (#$-%$,-1 &+/ '&()*+&1 3&+&8$3$+( *, & 4*'1/ )+ )(%$1, /$<*)/ *, &,,$.(� 4#).# )%&1%* (* %&; *, ('&+%.$+/$+.$!
$3*.'&.; )% (#-% 7; 7)'(# 94$ .*-1/ $<$+ %&; )(% /*-71$ 7)'(#� B'$$2 &+/�*/$'+: (** �#')%()&+� &+/ +*( �#')%()&+ $+*-8#! �** �#')%()&+ 7$.&-%$ )(,-11; &%%-3$% (#$ %$ &'&()*+ 7$(4$$+ (#$ (4* 2)+8/*3%� +*( �#')%()&+$+*-8# 7$.&-%$ )( ,&)1% (* '$�,)+/ )+ )(% 2)+8/*3 (#$ ,*'.$ *, &,,$.( (#&( (#$*(#$' #&% '$%$'<$/ ,*' )(%$1,! �-( &( (#$ %&3$ ()3$� �#')%()&+)(;� /$ ')<$/ *,(#$ -71). *%)()*+% (#'*-8# 4#).# )( '$.*<$'$/ 4)(# *+$ #&+/ (#$ 3&($')&1 *4$' (#&( )( #&/ &7&+/*+$/ 4)(# (#$ *(#$' " &+/ (#'*-8# 4#).# )( &1%*.*+()+-$/ (* )+%()1 & 1)((1$ 7)( *, 1*<$ *' (#$ '$($+.$ *, 1*<$ )+ (#$ *1)().&1*'/$' " (#)% �#')%()&+)(; #&% /)%%*1<$/ )(%$1, &% & %*.)&1 '$1)8)*+ &+/ 7$.&-%$*, (#)% )( #&% ($+/$/ (* /)%%*1<$ )(%$1, &% & '$1)8)*+ �� �� (#-% ($+/)+8 (* (&2$&11 '$1)8)*+% 4)(# )(!
�$)(#$' *, (#$ (4* 2)+8/*3% '$%)%(% (#$ *(#$' &+; 3*'$ " $0.$ ( -+/$' (#$7'-(&1 ,*'3 *, ,&+&().)%3%� 4#$(#$' (#$; 7$ *, �#-'.# *' �(&($! �-( )+ '$&1)(;�(#)% )% +*( & '$1&()*+ *, '$%)%(&+.$� )( )% & '$1&()*+ *, 4)11% *, /*3)+&()*+ &+/*, (#$ &7%*' ()*+ *, *+$ 2)+8/*3 7; &+*(#$'� *, & -'$ &+/ %)3 1$.*+I-$')+8 &+/ /$%('-.()<$ #*%()1)(;!
��
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
�
$ +* 1*+8$' 1)<$ )+ 5& ()3$ *,6 '$%)%(&+.$� 7-( )+ 5*+$ *,6 .*+,'*+(&()*+! $+* 1*+8$' 1)<$ )+ 5& ()3$ *,6 (#$ /),,$'$+( +&(-'$ *, (4* 2)+8/*3%� 7-( )+ 5&()3$ *,6 (#$ /),,$'$+( ,*'.$ 7$(4$$+ $3 )'$%! , )( )% .$'(&)+ (#&( 4$ 4)11'$(-'+ +$)(#$' (* & �#')%()&+ .)<)1)>&()*+ 5���'����'6� +*' (* (#$ �*3&+'$ -71).� +*' (* (#$ �(#$+)&+ .)(;� &+/ ), )( )% .$'(&)+ (#&( )( )% +*( /$%)'&71$ )+&+; 4&; (#&( 4$ '$(-'+ (* &+; *, (#$%$ ,*'3%� )( )% J-%( &% .$'(&)+ (#&( 4$ 3-%(+*4 )+<$+( & +$4 4&; (* '$,)8-'$ 5�7���6 (#$ *1)().&1 )+%()(-()*+ )(%$1,�,'*3 +*4 *+ 7; .1$&'1; ,*'3-1&()+8 )(% $0)8$+.; &% (#&( *, (#$ ������� ������ ���� ������! �*' ), .)<)1 '$1)8)*+ )% )3 *%%)71$ " &+/ ), 4$ 2+*4 *+1; (**4$11 4#$'$ )(% '$&1)>&()*+% 1$&/� 7; /$,&-1( 9'$ -71).&+ .$1$7'&()*+ ! ! !: *' 7;$0.$%% 9,&%.)%( .$1$7'&()*+:� &+/ (#&( )(% KJ-%( 3$&%-'$L )% '$.)%$1; (#$)3 *%%)71$ )(%$1, " %* 4$ 3-%( (&2$ - &8&)+� &+/ ,'*3 %.'&(.#� (#$ I-$%()*+*, (#$ &,,$.( &..*'/)+8 (* 4#).# 4$ .*�$0)%(! �,($' (#)% 4$ 4)11 #&<$ (* &%2*-'%$1<$% #*4 4$ %#*-1/ ('-1; %$ &'&($ �#-'.# &+/ �(&($ " *' '&(#$' #*4 4$%#*-1/ ,'*3 +*4 *+ '$+*-+.$� J-%( &% 3-.# &% (#$ *1)().&1 #*1/ *, & 8)<$+'$1)8)*+� (#$ /$%)'$ ,*' & *1)().% (#&( 4*-1/ 7$ &71$ (* (&2$ - (#)% &,,$.( &+/)(% #$($'*+*3;! ( %$$3% (#&( )( )% (** 3-.# (* &%2 ,*' (#$ (4* (#)+8% (*8$(#$'!�$( (#)% )% 4#&( 4$ 3-%( 8)<$ *-'%$1<$% &( 1$&%( &% &+ $0 1*'&(*'; &+/#$-')%(). '-1$!
$ .*-1/ %(&'( 9&8&)+: &% ,*11*4%!�$)+8 )+ .*33*+� *' 7$)+8 (*8$(#$'� &+/ 3*'$ %)3 1; %()11� *' )+ & %(&'2$'
5�'���'6 ,*'3� 7$)+8 %$<$'&1� )% 7$)+8 )+ &,,$.(� 7$)+8 &,,$.($/ &+/&,,$.()+8! ( )% 7$)+8 (*-.#$/ &+/ (*-.#)+8! K�*+(&.(L " .*+()8-)(;� 7'-%#)+8(*8$(#$'� $+.*-+($')+8� &+/ .1&%#)+8 " )% (#$ ,-+/&3$+(&1 3*/&1)(; *, (#$&,,$.(! �*' 4#&( (#$ (*-.# (*-.#$% )% (#$ 1)3)(� (#$ 1)3)( *, (#$ *(#$' " *, (#$*(#$' 7*/;� 7$.&-%$ (#$ *(#$' )% (#$ *(#$' 7*/;� (#&( )% (* %&; (#$)3 $+$('&71$ 9 $+$('&71$ *+1; (#'*-8# (#$ 4*-+/� &+/ +*( $+$('&71$ )+ (#$%$0-&1 '$1&()*+ 4#$'$ K $+$('&()*+L )% *+1; & (*-.# (#&( -%#$% (#$ 1)3)( (* )(%,&'(#$%( *)+(:! #&( )% &( %(&2$ &7*<$ &11 )+ 7$)+8�4)(# )% (#$ '$1&()*+ (* (#$1)3)(� #*4 (* (*-.#� &+/ (* 7$ (*-.#$/� &( (#$ 1)3)(� 4)(#*-( )(% <)*1&()*+M �*'4$ /$%)'$ (* <)*1&($ (#$ 1)3)( )+ %* ,&' &% )( $0 *%$% ,)+)(-/$! �#$ /$%)'$ ,*',-%)*+ *' (#$ /$%)'$ ,*' 3-'/$' .*+%()(-($ (#$ /*-71$ 3*/&1)(; *, &+ $%%$+()&1('*-71$ (#&( &8)(&($% -% )+ *-' ,)+)(-/$! �* %4&11*4 *' (* &++)#)1&($ *(#$'% "&+/ ;$( &( (#$ %&3$ ()3$ 4&+()+8 (* 3&)+(&)+ (#$3 &% *(#$'%� 7$.&-%$ 4$ &1%*%$+%$ (#$ #*''*' *, %*1)(-/$ 94#).# )% '* $'1; (#$ $0)( ,'*3 %$+%$� ), %$+%$ )%$%%$+()&11; $0.#&+8$/ *' %#&'$/:! �#)% %&)/� (#$ '$1&()*+ (* (#$ 1)3)( )% /$&1(4)(# *' #&% 7$$+ /$&1( 4)(# )+ (4* 4&;% )+ 5(#$ #)%(*'; *,6 #-3&+)(;� $)(#$'7; & 8)<$+ 3*/&1)(; *, (#$ %&.'),).$� 4#).# .*+%)%(% )+ .'*%%)+8 (#$ 1)3)( 7;$%(&71)%#)+8 & 1)+2 4)(# (#$ (*(&1)(; 93*'$ 8$+$'&11; %()11� 4*-1/ %&;� &3*/&1)(; *, .*+%$.'&()*+� ,*' (#$ 71**/; %&.'),).$ )% +*( (#$ *+1; *+$ &(%(&2$:� *' *-(%)/$ *, .*+%$.'&()*+� &% )+ (#$ �..)/$+(� )+ *1)().% &+/ 1&4� (#&()% (* %&;� $%%$+()&11; )+ (#$ '$.*-'%$ (* &+ &-(*+*3; *, ,)+)(-/$! �#$ .)(; 3&;4&+( (* 7$ '$8-1&($/ &..*'/)+8 (* %*3$ .*%3).� #;%).&1 *' *'8&+). 3*/$1�
��
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
7-( (#$ <$'; ,&.( *, (#)% 4)11 &+/ (#)% '$ '$%$+(&()*+ )+/).&($% (#&( )( )% (#$(*(&1)(;� (#$ K.*+%$.'&()*+ (#'*-8# 4#*1$+$%% 5����'������� �� ����6L 4#).#)% $0 $')$+.$/ &% 1&.2)+8!
�#-% (#$ .)(; $%(&71)%#$% )(%$1,� ), .&+ %&; %*� )+ & '*71$3&(). %)(-&()*+4)(# '$% $.( (* &,,$.(� (#$ '$1&()*+ (* (#$ 1)3)(%� (#$ '$1&()*+ *, 1)3)(% 7$(4$$+(#$3%$1<$%� )% +* 1*+8$' (&2$+ - 7; & <)'(-&11; (*(&1 K.*+%$.'&()*+L! �#$ *1)().&1 $3$'8$% ,'*3 (#$ *-(%$( &% & '$8-1&()*+ *, &,,$.(%! ( )% +*( 7;.#&+.$ (#&( �#')%()&+)(; & $&'% )+ & .*+($0( 4#$'$ (#$ .)(; (#&( 4)11 %**+ 7$+&3$/ & K#-3&+ .)(;L $0 $')$+.$% )(%$1, &% ,&)1)+8 4)(# '$8&'/ (* $'%*+&1'$1&()*+% &+/ 4#$'$ (#$ $3 )'$ ($%(),)$% (* & ,&)1-'$ *' & #&1()+8 *, (#$ ����&+/ *, ��������� (* (#$ 7$+$,)( *, & 3*/$1 *, /*3)+&()*+ 9*, (#$ �������:4#).#� /$% )($ )(% $,,*'(%� /*$% +*( %-..$$/ )+ .& (-')+8 (#$ &,,$.( 97$.&-%$ )()% +* 1*+8$' ('-1; %&.'$/� )( )(%$1, $3&+&($% ,'*3 .)<)1 1&4� ,'*3 K/).(&(*'%#) L)+ (#$ �*3&+ %$+%$:! ( )% +*( 7; .#&+.$ (#&( �#')%()&+)(; " (#&( )% (* %&; '* #$(). �-/&)%3 &+/ (#$ �-/&)%3 *, (#$ /)&% *'& 9 3$&+ (* %&;� (#$ (4*,)8-'$% *, & .$'(&)+ %$ &'&()*+ 7$(4$$+ (#$ 2)+8/*3 *, %'&$1 &+/ %'&$1 &%(#$ $* 1$ *, B*/:� #&<)+8 '$&.#$/ & /$.)%)<$ *)+( *, ('&+%,*'3&()*+ '$.)%$1; )+ (#$ 3)/%( *, &+/ )+ (#$ ,&.$ *, $3 )'$ 9)+ (#$ %&3$ 4&; &%� )+ &.*+<$'8)+8 3*/$� �(*). &+/ � ).-')&+ #)1*%* #; %$$2% & '$8-1&()*+ *,&,,$.(: " %#*-1/ '$% *+/ 4)(# 7*(# (#$ K1&4 *, 1*<$L &+/ (#$ K2)+8/*3 *,B*/L! �( (#$ %&3$ ()3$� �#')%()&+)(; '* *%$% (#$ /)%()+.()*+ 7$(4$$+ (4*2)+8/*3% *' (4* .)()$%� &+/ (#$ /)%()+.()*+ 7$(4$$+ (#$ 1$8&1 1&4 &+/ (#$ 1&4*, 1*<$� (#&( )% &1%* (* %&; *, (#$ *(#$' *, 1&4 *' *, )(% '$<$'%$! �#')%()&+ 1*<$%)8+),)$% &7*<$ &11 (#$ '$<$'%$ *, 1&4� )(% )+<$'%)*+ *' )(% %-7<$'%)*+� )(%#)//$+ %)/$ &1%*= (#&( )% (* %&;� 4#$'$ (#$ 1&4 .*3$% ,'*3 4)(#*-( 7$)+8 &71$(* '$.*8+)>$ )( " +&3$1;� (#$ <$'; %$+%$ *, 7$)+8�4)(#!
#&( '$%)%(% )+ (#$%$ .*+/)()*+% )% +* 3*'$ (#$ �#-'.# (* (#$ �(&($ (#&+(#$ �(&($ (* (#$ �#-'.# " 7-( )( )% 7$)+8�4)(# )(%$1, 4#).# '$%)%(% ���� &+/4#).# '$,-%$% (* &..*3 1)%# )(%$1, -+/$' &+; ,*'3 *, #; *%(&%)%� .*+,)8-'&�()*+� )+%()(-()*+ *' 1$8)%1&()*+! #&( '$%)%(% )% 7$)+8�4)(# )+ )(% '$%)%(&+.$ (*)(% *4+ 8&(#$')+8 5����� ���6! �#)% '$%)%(&+.$ (*-.#$% (#$ ('-(# *,7$)+8L% K4)(#L� *, (#)% '*0)3)(; *, (#$ ���� ,*'$<$' )3 *%%)71$ (* $,,$.(-&($&% & 7$)+8 &+/ &14&;% '$%)%(&+(! �$)(#$' &-(*+*3*-%� +*' #$($'*+*3*-%� 7-('&(#$' &+*3). )+ (#$ 3-(-&1 '$%)%(&+.$ *, (#$ &-(*+*3*-% &+/ (#$#$($'*+*3*-%!
��
� ���� �#$ �-(#*'! �*-'+&1 �*3 )1&()*+ � ���� �&'/),, �+)<$'%)(; �&4 �.#**1
