7HFKQLFDO,QIRUPDWLRQ
6HUYLFH0DQXDO
'HOD\SURWHFWLRQRIFRPSUHVVRU
:KHQFRPSUHVVRULVVWRSSHGLWQHHGVPLQWRUHVWDUWXSWKHFRPSUHVVRU2QFHFRPSUHVVRULVVWDUWHGXSFRPSUHVVRUZRQ¶WVWRS
RSHUDWHZLWKLQLQDFFRUGLQJWRWKHFKDQJHRIWHPSHUDWXUH
'LVFKDUJHWHPSHUDWXUHSURWHFWLRQRIFRPSUHVVRU
:KHQ7%GLVFKDUJH%
đ
SURKLELWLQFUHDVLQJIUHTXHQF\
:KHQ7%GLVFKDUJH%
đ
SURKLELWGHFUHDVLQJIUHTXHQF\
:KHQ7%GLVFKDUJH%
đ
FRPSUHVVRUVWRSVRSHUDWLRQ
:KHQ7%GLVFKDUJH%
đ
SURWHFWLRQLVUHOHDVHG
&RPPXQLFDWLRQPDOIXQFWLRQ
:KHQWKHXQLWKDVQ¶WUHFHLYHGFRUUHFWVLJQDOIRUPLQVFRQVHFXWLYHO\LW¶VWKHFRPPXQLFDWLRQPDOIXQFWLRQ7KHFRPSOHWHXQLWZLOO
VWRSRSHUDWLRQ
0RGXOHSURWHFWLRQ
'XULQJPRGXOHSURWHFWLRQFRPSUHVVRUVWRSVRSHUDWLRQ:KHQFRPSUHVVRUKDVVWRSSHGRSHUDWLRQIRUPLQFRPSUHVVRUZLOOUHVXPH
RSHDWLRQ:KHQPRGXOHSURWHFWLRQRFFXUVDOOWKHWLPHZKHQVWDUWLQJXSFRPSUHVVRUIRUWLPHVFRQVHFXWLYHO\FRPSUHVVRUFDQ¶WEH
VWDUWHGDQ\PRUHWXUQRIIWKHXQLWZLWKUHPRWHFRQWUROOHUFDQFOHDUXSPRGXOHDQGWKHDFFXPXODWLYHWLPHVRIPRGXOHSURWHFWLRQ
:KHQWKHRSHUDWLRQWLPHRIFRPSUHVVRULVPRUHWKDQPLQVWKHDFFXPXODWLYHWLPHVZLOOEHFOHDUHGXS
:KHQ'&EXVYROWDJHLVORZHUWKDQ9RUPRUHWKDQ9FRPSUHVVRUZLOOGHOD\VWRVWRSRSHUDWLRQ:KHQ'&EXV
YROWDJHLVPRUHWKDQ&DQGOHVVWKDQ9SURWHFWLRQZLOOEHUHVXPHG&RPSUHVVRUZLOOUHVXPHRSHUDWLRQDIWHULWKDVVWRSSHG
IRUPLQV'XULQJORZSUHVVXUHSURWHFWLRQPDLQUHOD\ZLOOEUHDNRII:KHQORZYROWDJHSURWHFWLRQLVUHVXPHGPDLQUHOD\ZLOOEH
FORVHG
:KHQRYHUORDGPDOIXQFWLRQLVRFFXUUHGFRPSUHVVRUVWRSSHGRSHUDWLRQDQGRXWGRRUIDQZLOOGHOD\VWRVWRSRSHUDWLRQZKHQ
PDOIXQFWLRQLVFOHDUHGXSDQGFRPSUHVVRUKDVVWRSSHGIRUPLQWKHXQLWZLOOUHVXPHRSHUDWLRQ
3RZHUSURWHFWLRQRIFRPSUHVVRU
:KHQ3&%ZSURKLELWLQFUHDVLQJIUHTXHQF\
:KHQ3&%ZGHFUHDVHIUHTXHQF\WRRSHUDWH
:KHQ3&%ZFRPSUHVVRUVWRSVRSHUDWLRQ
:KHQ3&%ZSURWHFWLRQLVUHOHDVHG
0DOIXQFWLRQRIWHPSHUDWXUHVHQVRU
1DPHRIWHPSHUDWXUHVHQVRU 0DOIXQFWLRQFRQGLWLRQ
2XWGRRUDPELHQW
,W¶VGHWHFWHGWKDWWKHWHPSHUDWXUHVHQVRULVRSHQVKRUWFLUFXLWHGIRU
VFRQVHFXWLYHO\
2XWGRRUWXEHWHPSHUDWXUH
,W¶VGHWHFWHGWKDWWKHWHPSHUDWXUHVHQVRULVRSHQVKRUWFLUFXLWHGIRU
VFRQVHFXWLYHO\LWZRQ¶WEHGHWHFWHGZLWKLQPLQVDIWHUGHIURVWLQJ
$LUGLVFKDUJH
$IWHUFRPSUHVVRURSHUDWHVIRUPLQLW¶VGHWHFWHGWKDWWKH
WHPSHUDWXUHVHQVRULVRSHQVKRUWFLUFXLWHGIRUVFRQVHFXWLYHO\
:KHQRXWGRRUIDQLVRSHQFLUFXLWHGRUFXUUHQWLVPRUHWKDQD$RXWGRRUIDQZLOOVWRSRSHUDWLRQDQGWKHQEHUHVWDUWHGXS
VODWHU,IWKHIDQVWRSVRSHUDWLRQIRUWLPHVVXFFHVVLYHO\LW¶VWKHPDOIXQFWLRQRIIDQ$QGWKHQFRPSUHVVRUZLOOVWRSVRSHUDWLRQ
PLQVODWHUWKHPDOIXQFWLRQRIIDQZLOOEHFOHDUHGDQGUHVWDUWXSRXWGRRUIDQDQGFRPSUHVVRU,IPDOIXQFWLRQRIIDQRFFXUVIRU
WLPHVVXFFHVVLYHO\RXWGRRUIDQZRQ¶WEHUHVWDUWHGXS7XUQRIIWKHXQLWZLWKUHPRWHFRQWUROOHUFDQFOHDUXSPDOIXQFWLRQDQGWKH
DFFXPXODWHGWLPHURIPDOIXQFWLRQ$IWHUFRPSUHVVRURSHUDWHVIRUPLQVVXFFHVVLYHO\WKHDFFXPXODWHGPDOIXQFWLRQWLPHVRIIDQZLOO
EHFOHDUHG