7HFKQLFDO,QIRUPDWLRQ
6HUYLFH0DQXDO
ĸ
&RQGLWLRQDQGSURFHVVRIGHIURVW
:KHQGXUDWLRQRIVXFFHVVLYHKHDWLQJRSHUDWLRQLVPRUHWKDQPLQXWHVRUDFFXPXODWHGKHDWLQJWLPHPRUHWKDQPLQXWHVDQGRQHRI
WKHIROORZLQJFRQGLWLRQVLVUHDFKHGWKHXQLWZLOOHQWHUWKHGHIURVWPRGHDIWHUPLQXWHV
7RXWGRRUDPELHQW
˚
ć
7RXWGRRUWXEH
ć
ć
7RXWGRRUDPELHQW
˘
ć
7RXWGRRUWXEH
ć
ć
7RXWGRRUDPELHQW
˘
ć
7RXWGRRUWXEH
ć
ć
7RXWGRRUDPELHQW
˘
ć
7RXWGRRUWXEH7RXWGRRUDPELHQW
ć
$WWKDWWLPHWKHLQGRRUIDQVWRSVDQGWKHFRPSUHVVRUVWRSVDQGDIWHUVHFRQGVWKHRXWHUIDQZLOOVWRSDQGWKHQDIWHUVHFRQGVWKH
IRXUZD\YDOYHZLOOVWRS$IWHUVHFRQGVWKHFRPSUHVVRULVLQLWLDWHGIRUUDLVLQJWKHIUHTXHQF\WRGHIURVWIUHTXHQF\
:KHQWKHFRPSUHVVRUKDVRSHUDWHGXQGHUGHIURVWPRGHIRUPLQXWHVRU7RXWWXEH
ć
WKHFRPSUHVVRUZLOOEHFRQY]
RSHUDWLRQ$IWHUVHFRQGVWKHFRPSUHVVRUZLOOVWRS$QGDIWHUDQRWKHUVHFRQGVWKHIRXUZD\YDOYHZLOOEHRSHQHGDQGDIWHU
VHFRQGVWKHFRPSUHVVRUDQGWKHRXWHUIDQZLOOEHVWDUWHGWKHLQGRRUIDQZLOOUXQXQGHUSUHVHWFROGDLUSUHYHQWLRQFRQGLWLRQVDQG'5<
LQGLFDWRUZLOOEHGLVSOD\HGDWWHPSHUDWXUHGLVSOD\DUHDRQWKHGLVSOD\SDQHO'HIURVWIUHTXHQF\LV+]
Ĺ
3URWHFWLRQ
ƹ
&ROGDLUSUHYHQWLRQ
7KHXQLWLVVWDUWHGXQGHUKHDWLQJPRGHWKHFRPSUHVVRULV21
ķ
,QWKHFDVHRI7LQGRRUDPE
ć
LI7WXEH
ć
DQGWKHLQGRRUIDQLVDWVWRSVWDWHWKHLQGRRUIDQZLOOEHJLQWRUXQDWORZVSHHG
ZLWKDWLPHODJRIPLQXWHV:LWKLQPLQXWHVLI7WXEH!
ć
WKHLQGRRUIDQDOVRZLOOUXQDWORZVSHHGDQGDIWHUPLQXWHRSHUDWLRQDW
ORZVSHHGWKHLQGRRUIDQZLOOEHFRQYHUWHGWRRSHUDWLRQDWSUHVHWVSHHG:LWKLQPLQXWHORZVSHHGRSHUDWLRQRUPLQXWHQRQRSHUDWLRQ
LI7WXEH!
ć
WKHIDQZLOOUXQDWSUHVHQWVSHHG
ĸ
,QWKHFDVHRI7LQGRRUDPE
ć
LI7WXEH
ć
WKHLQGRRUIDQZLOOUXQDWORZVSHHGDQGDIWHURQHPLQXWHWKHLQGRRUIDQZLOOEH
FRQYHUWHGWRSUHVHWVSHHG:LWKLQRQHPLQXWHORZVSHHGRSHUDWLRQLI7WXEH!
ć
WKHLQGRRUIDQZLOOEHFRQYHUWHGWRSUHVHWVSHHG
1RWH7LQGRRUDPELQGLFDWHGLQ
ķ
DQG
ĸ
UHIHUVWRXQGHULQLWLDOO\KHDWLQJPRGHWKHLQGRRUDPELHQWWHPSHUDWXUHEHIRUHWKHFRPPDQGWR
VWDUWWKHFRPSUHVVRULVSHUIRUPHGDFFRUGLQJWRWKHSURJUDPRUDIWHUWKHXQLWLVZLWKGUDZQIURPGHIURVWWKHLQGRRUDPELHQWWHPSHUDWXUH
EHIRUHWKHGHIURVWV\PEROLVFOHDUHG
ƹ
7RWDOFXUUHQWXSDQGIUHTXHQF\GRZQSURWHFWLRQ
,IWKHWRWDOFXUUHQW,
WRWDO
$IUHTXHQF\ULVHZLOOEHDOORZHGLI,
WRWDO
$IUHTXHQF\ULVHZLOOQRWEHDOORZHGLI,
WRWDO
$WKHFRPSUHVVRUZLOO
UXQDWUHGXFHGIUHTXHQF\DQGLI,
WRWDO
$WKHFRPSUHVVRUZLOOVWRSDQGWKHRXWGRRUIDQZLOOVWRSZLWKDWLPHODJRIV
ƹ
3URWHFWLRQRIFRPSUHVVRUSRZHU
:KHQ3F
ı
ZIUHTXHQF\LVSURKLELWHGWRLQFUHDVH
:KHQ3F
ı
ZWKHFRPSUHVVRUGHFUHDVHVIUHTXHQF\
:KHQ3F
ı
ZFRPSUHVVRUVWRSVRSHUDWLRQ
:KHQ3F
İ
ZSURWHFWLRQZLOOEHUHPRYHG
)DQ0RGH
8QGHUWKHPRGHWKHLQGRRUIDQZLOOUXQDWSUHVHWVSHHGDQGWKHFRPSUHVVRUWKHRXWGRRUIDQWKHIRXUZD\YDOYHDQGWKHHOHFWULF
KHDWHUZLOOVWRS
8QGHUWKHPRGHWHPSHUDWXUHFDQEHVHWZLWKLQDUDQJHRI
ć
$8720RGH
ķ
:RUNLQJFRQGLWLRQVDQGSURFHVVRI$872PRGH
D:KHQ7DPELHQW
ć
WKHXQLWZLOORSHUDWHLQ&RROPRGH7KHVHWWHPSHUDWXUHLV
ć
E:KHQ7DPELHQW
ć
WKHKHDWSXPSXQLWZLOORSHDWPRGHVHWWHPSHUDWXUHEH
ć
WKHFRROLQJRQO\XQLWZLOORSHUDWHLQ
)DQPRGHVHWWHPSHUDWXUHEH
ć
F:KHQ
ć
7DPELHQW
ć
WKHXQLWZLOORSHUDWHLQWKHSUHYLRXVVWDWH,ILWLVHQHUJL]HGIRUWKH¿UVWWLPHLWZLOORSHUDWHLQ)DQPRGH
G:KHQWKHXQLWRSHUDWHVLQ$XWRPRGHWKHFRPSUHVVRUIUHTXHQF\GXULQJFRROLQJRSHUDWLRQLVWKHVDPHZLWKWKDWRIKHDWLQJPRGH
ĸ
3URWHFWLRQ
D,QFRROLQJRSHUDWLRQSURWHFWLRQLVWKHVDPHDVWKDWXQGHUWKHFRROLQJPRGH
E,QKHDWLQJRSHUDWLRQSURWHFWLRQLVWKHVDPHDVWKDWXQGHUWKHKHDWLQJPRGH
F:KHQDPELHQWWHPSHUDWXUHFKDQJHVRSHUDWLRQPRGHZLOOEHFRQYHUWHGSUHIHUHQWLDOO\2QFHVWDUWHGWKHFRPSUHVVRUZLOO
UHPDLQXQFKDQJHGIRUDWOHDVWPLQXWHV
&RPPRQ3URWHFWLRQ)XQFWLRQVDQG)DXOW'LVSOD\XQGHU&22/+($7'5<DQG$8720RGHV
ķ
2YHUORDGSURWHFWLRQ
7WXEHPHDVXUHGWHPSHUDWXUHRIRXWGRRUKHDWH[FKDQJHUXQGHUFRROLQJPRGHDQGPHDVXUHGWHPSHUDWXUHRILQGRRUKHDWH[FKDQJHU
XQGHUKHDWLQJPRGH
&RROLQJRYHUORDG
D,I7WXEH
ć
WKHXQLWZLOOUHWXUQWRLWVRULJLQDORSHUDWLRQVWDWH
E,I7WXEH
ć
IUHTXHQF\ULVHLVQRWDOORZHG
F,I7WXEH
ć
WKHFRPSUHVVRUZLOOUXQDWUHGXFHGIUHTXHQF\
G,I7WXEH
ć
WKHFRPSUHVVRUZLOOVWRSDQGWKHLQGRRUIDQZLOOUXQDWSUHVHWVSHHG