ARIETE 1334 Minuetto Benutzerhandbuch

Typ
Benutzerhandbuch
De’ Longhi Appliances Srl
Divisione Commerciale Ariete
Via San Quirico, 300
50013 Campi Bisenzio (FI)
Internet: www.ariete.net
COD. 4025106500 REV. 2 del 28/07/2015
mod. 1334/1
827070
Кофеварка
эспрессо кофе
мейкер
Fig. 1
Fig. 2
Fig. 6
Fig. 3 Fig. 4
Fig. 7
Fig. 9
Fig. 11
E
D
C
L
W
M
Q
S
U
T
F
H
I
J
B
A
V
R
P
Fig. 8
Fig. 10
Fig. 12
Fig. 17
Fig. 13
Fig. 18
Fig. 20
Fig. 19
Fig. 21
Fig. 25Fig. 24 Fig. 26
Fig. 23
K
Fig. 5
Fig. 14
Fig. 15
Fig. 22
O
G
Fig. 16
N
Q
U
,7
$352326,72',48(6720$18$/(
$QFKHVHJOLDSSDUHFFKLVRQRVWDWLUHDOL]]DWLLQFRQIRUPLWjFRQOHVSHFL¿FKH1RUPDWLYHHXURSHHYLJHQWLHVRQRSHUWDQWR
SURWHWWLLQWXWWHOHSDUWLSRWHQ]LDOPHQWHSHULFRORVHOHJJHWHFRQDWWHQ]LRQHTXHVWHDYYHUWHQ]HHXVDWHO¶DSSDUHFFKLRVRORSHU
O¶XVRFXLqVWDWRGHVWLQDWRSHUHYLWDUHLQIRUWXQLHGDQQL7HQHWHDSRUWDWDGLPDQRTXHVWROLEUHWWRSHUIXWXUHFRQVXOWD]LRQL
4XDORUDYRJOLDWHFHGHUHTXHVWRDSSDUHFFKLRDGDOWUHSHUVRQHULFRUGDWHYLGLLQFOXGHUHDQFKHTXHVWHLVWUX]LRQL
/HLQIRUPD]LRQLULSRUWDWHLQTXHVWRPDQXDOHVRQRPDUFDWHGDLVHJXHQWLVLPEROLFKHLQGLFDQR
3HULFRORSHULEDPELQL
3HULFRORGRYXWRDHOHWWULFLWj
3HULFRORGLGDQQLGHULYDQWLGDDOWUHFDXVH
$YYHUWHQ]DUHODWLYDDXVWLRQL
$WWHQ]LRQHGDQQLPDWHULDOL
86235(9,672
3RWHWHXVDUHODYRVWUDFDIIq0LQXHWWRSHUSUHSDUDUHFDIIqHFDSSXFFLQL4XHVWRDSSDUHFFKLRqVWDWRFRQFHSLWRVRORSHUXQ
XVRSULYDWRHGqTXLQGLGDFRQVLGHUDUVLLQDGHJXDWRO¶XVRSHUVFRSLFRPPHUFLDOLRLQGXVWULDOL2JQLDOWURXWLOL]]RGHOODPDFFKL
QDQRQqSUHYLVWRGDO&RVWUXWWRUHFKHVLHVLPHGDTXDOVLDVLUHVSRQVDELOLWjSHUGDQQLGLRJQLQDWXUDJHQHUDWLGDXQLPSLHJR
LPSURSULRGHOODPDFFKLQDVWHVVD/¶XVRLPSURSULRGHWHUPLQDLQROWUHO¶DQQXOODPHQWRGLRJQLIRUPDGLJDUDQ]LD
5,6&+,5(6,'8,
/HFDUDWWHULVWLFKHFRVWUXWWLYHGHOO¶DSSDUHFFKLRRJJHWWRGHOODSUHVHQWHSXEEOLFD]LRQHQRQFRQVHQWRQRGLSURWHJJHUHO¶XWLOL]
]DWRUHGDOJHWWRGLUHWWRGLYDSRUHRDFTXDFDOGD
$WWHQ]LRQH
3HULFRORGLXVWLRQL1HOO¶HURJD]LRQHGLDFTXDFDOGDHGLYDSRUHQRQGLULJHUHLJHWWLYHUVRWHU]LRYHUVRVHVWHVVL
,PSXJQDUHLOWXERHVFOXVLYDPHQWHVXOODSDUWHLQSODVWLFD
8WLOL]]DUHVRORFRQWHQLWRULFKHVLDQRUHDOL]]DWLLQPDWHULDOH³SHUDOLPHQWL´
$99(57(1=(,03257$17,
/(**(5($77(17$0(17(/(,6758=,21,35,0$'(//·862
/¶DSSDUHFFKLRqGHVWLQDWRVRORDGXVRGRPHVWLFRHQRQGHYHHVVHUHDGLELWRDG
XVRFRPPHUFLDOHRLQGXVWULDOH
1RQVLDVVXPRQRUHVSRQVDELOLWjSHUXVRHUUDWRRSHULPSLHJKLGLYHUVLGDTXHOOL
SUHYLVWLGDOSUHVHQWHOLEUHWWR
6LFRQVLJOLDGLFRQVHUYDUHJOLLPEDOOLRULJLQDOLSRLFKpO¶DVVLVWHQ]DJUDWXLWDQRQq
SUHYLVWDSHULJXDVWLFDXVDWLGDLPEDOORQRQDGHJXDWRGHOSURGRWWRDOPRPHQWR
GHOODVSHGL]LRQHDGXQ&HQWURGL$VVLVWHQ]DDXWRUL]]DWR
/¶DSSDUHFFKLR q FRQIRUPH DOOD 'LUHWWLYD &( H DOOD 'LUHWWLYD (0&
&((
3HULFRORSHULEDPELQL
/¶DSSDUHFFKLRSXzHVVHUHXVDWRGDEDPELQLFRQ XQ HWj VXSHULRUH DDQQLH
GDSHUVRQHFKHKDQQRFDSDFLWj¿VLFKHVHQVRULDOLRPHQWDOLULGRWWHRSSXUHFRQ
PDQFDQ]DGLHVSHULHQ]DRGLFRQRVFHQ]DVRORVHVRQRVHJXLWLGDXQDSHUVRQD
UHVSRQVDELOHRVHKDQQRULFHYXWRHFRPSUHVROHLVWUX]LRQLHLSHULFROLSUHVHQWL
GXUDQWHO¶XVRGHOO¶DSSDUHFFKLR
,7
,EDPELQLQRQGHYRQRJLRFDUHFRQO¶DSSDUHFFKLR
/DSXOL]LDHODPDQXWHQ]LRQHULSRUWDWHLQTXHVWROLEUHWWRQRQGHYRQRHVVHUHHVH
JXLWHGDLEDPELQLVHQ]DODVXSHUYLVLRQHGLXQDSHUVRQDDGXOWD
*OLHOHPHQWLGHOO¶LPEDOODJJLRQRQGHYRQRHVVHUHODVFLDWLDOODSRUWDWDGHLEDPELQL
LQTXDQWRSRWHQ]LDOLIRQWLGLSHULFROR
$OORUFKpVLGHFLGDGLVPDOWLUHFRPHUL¿XWRTXHVWRDSSDUHFFKLRVLUDFFRPDQGDGL
UHQGHUORLQRSHUDQWHWDJOLDQGRQHLOFDYRGLDOLPHQWD]LRQH6LUDFFRPDQGDLQROWUH
GLUHQGHUHLQQRFXHTXHOOHSDUWLGHOO¶DSSDUHFFKLRVXVFHWWLELOLGLFRVWLWXLUHXQSHUL
FRORVSHFLDOPHQWHSHULEDPELQLFKHSRWUHEEHURVHUYLUVLGHOO¶DSSDUHFFKLRSHUL
SURSULJLRFKL
1RQODVFLDUHORVSLOORSHUSXOL]LDDOODSRUWDWDGHLEDPELQLHULSRUORLQXQOXRJR
VLFXURSHULFRORGLLQJHVWLRQHHGLIHULWD
3HULFRORGRYXWRDHOHWWULFLWj
0DQWHQHUHLOFDYRGLDOLPHQWD]LRQHIXRULGDOODSRUWDWDGLEDPELQLFRQPHQRGL
DQQL
3ULPDGLFROOHJDUHO¶DSSDUHFFKLRDOODUHWHGLDOLPHQWD]LRQHFRQWUROODUHFKHODWHQ
VLRQHLQGLFDWDVXOODWDUJKHWWDSRVWDDOGLVRWWRGHOODPDFFKLQDFRUULVSRQGDDTXHO
ODGHOODUHWHORFDOH
/¶XVRGLSUROXQJKHHOHWWULFKHQRQDXWRUL]]DWHGDOIDEEULFDQWHGHOO¶DSSDUHFFKLRSXz
SURYRFDUHGDQQLHLQFLGHQWL
3ULPD GL SURFHGHUH DOO¶RSHUD]LRQH GL ULHPSLPHQWR GHO VHUEDWRLR GHOO¶DFTXD
VFROOHJDUHO¶DSSDUHFFKLRGDOODSUHVDGLFRUUHQWH
6H LO FDYR GL DOLPHQWD]LRQH q GDQQHJJLDWR HVVR GHYH HVVHUH VRVWLWXLWR GDO
FRVWUXWWRUHRGDOVXRVHUYL]LR$VVLVWHQ]D7HFQLFDRFRPXQTXHGDXQDSHUVRQD
FRQTXDOL¿FDVLPLODUHLQPRGRGDSUHYHQLUHRJQLULVFKLR
1RQPHWWHUHPDLOHSDUWLVRWWRWHQVLRQHDFRQWDWWRFRQO¶DFTXDSXzJHQHUDUVLXQ
FRUWRFLUFXLWR
7RJOLHUHODVSLQDGDOODSUHVDSULPDGLRJQLLQWHUYHQWRGLSXOL]LDRGLPDQXWHQ]LRQH
1RQLPPHUJHUHODSSDUHFFKLRLQDFTXDRDOWULOLTXLGL
6SHJQHUHVHPSUHO¶DSSDUHFFKLRHVWDFFDUHODVSLQDGHOFDYRGLDOLPHQWD]LRQH
GDOODSUHVDGLFRUUHQWHHOHWWULFDSULPDGLULHPSLUHLOVHUEDWRLRFRQDFTXD
3HULFRORGLGDQQLGHULYDQWLGDDOWUHFDXVH
1RQ VROOHYDUH O¶DSSDUHFFKLR DIIHUUDQGROR SHU LO VHUEDWRLR GHOO¶DFTXD R SHU OD
YDVFKHWWDPDDIIHUUDUORSHULOFRUSR
6FHJOLHUHXQDPELHQWHVXI¿FLHQWHPHQWHLOOXPLQDWRSXOLWRHFRQODSUHVDGLFRUUHQ
WHIDFLOPHQWHDFFHVVLELOH
(YLWDUHGLLPPHWWHUHQHOVHUEDWRLRXQDTXDQWLWjHFFHVVLYDGLDFTXD
1RQODVFLDUHLQFXVWRGLWRO¶DSSDUHFFKLRPHQWUHqFROOHJDWRDOODUHWHHOHWWULFD
/¶DSSDUHFFKLRGHYHHVVHUHXWLOL]]DWRHODVFLDWRDULSRVRVXXQDVXSHU¿FLHVWDELOH
/¶DSSDUHFFKLRQRQGHYHHVVHUHXWLOL]]DWRVHqVWDWRIDWWRFDGHUHVHYLVRQRVHJQL
,7
GLGDQQLYLVLELOLRVHKDSHUGLWHGLDFTXD1RQXVDUHO¶DSSDUHFFKLRVHLOFDYRHOHW
WULFRRODVSLQDULVXOWDQRGDQQHJJLDWLRVHO¶DSSDUHFFKLRVWHVVRULVXOWDGLIHWWRVR
7XWWHOHULSDUD]LRQLFRPSUHVDODVRVWLWX]LRQHGHOFDYRGLDOLPHQWD]LRQHGHYRQR
HVVHUHHVHJXLWHVRODPHQWHGDO&HQWUR$VVLVWHQ]D$ULHWHRGDWHFQLFLDXWRUL]]DWL
$ULHWHLQPRGRGDSUHYHQLUHRJQLULVFKLR
$YYHUWHQ]DUHODWLYDDXVWLRQL
1RQGLULJHUHPDLLOJHWWRGLYDSRUHRDFTXDFDOGDYHUVRSDUWLGHOFRUSRPDQLSROD
UHFRQSUHFDX]LRQHLOWXERYDSRUHSHULFRORXVWLRQL
/HSDUWLPHWDOOLFKHHVWHUQHGHOO¶DSSDUHFFKLRHGHOSRUWD¿OWURQRQGHYRQRHVVHUH
WRFFDWHFRQO¶DSSDUHFFKLRLQIXQ]LRQHLQTXDQWRSRWUHEEHURFDXVDUHGHOOHVFRWWD
WXUH
/D PDQFDWD IXRULXVFLWDGLDFTXDGDOSRUWD¿OWURSRWUHEEHHVVHUHGRYXWDDGXQ
LQWDVDPHQWR GHO ¿OWUR 7KHUPRFUHDP ,Q TXHVWR FDVR ULPXRYHUH H GLVLQVHULUH
OHQWDPHQWHLOSRUWD¿OWURSHUFKpO¶HYHQWXDOHSUHVVLRQHUHVLGXDSRWUHEEHSURYRFDUH
VSUX]]LRVFKL]]L3URFHGHUHTXLQGLFRQODSXOL]LDFRPHLQGLFDWRQHOO¶DSSRVLWRSD
UDJUDIR
$WWHQ]LRQHGDQQLPDWHULDOL
&ROORFDUHODPDFFKLQDVXXQSLDQRVWDELOHGRYHQRQSRVVDHVVHUHURYHVFLDWD
1RQXVDUHODPDFFKLQDVHQ]DDFTXDSRLFKpLQWDOHFDVRODSRPSDVLEUXFHUHEEH
1RQULHPSLUHPDLLOVHUEDWRLRGHOO¶DFTXDFRQDFTXDFDOGDREROOHQWH
1RQSRVL]LRQDUHODPDFFKLQDVXVXSHU¿FLPROWRFDOGHRQHOOHYLFLQDQ]HGL¿DPPH
OLEHUHSHUHYLWDUHFKHODFDUUR]]HULDSRVVDHVVHUHGDQQHJJLDWD
,OFDYRQRQGHYHWRFFDUHOHSDUWLFDOGHGHOODPDFFKLQD
1RQXWLOL]]DUHDFTXDJDVVDWDDGGL]LRQDWDGLDQLGULGHFDUERQLFD
1RQLQWURGXUUHPDLQHO¿OWURVRVWDQ]HGLYHUVHGDOFDIIqLQSROYHUH6LSRWUHEEHUR
FDXVDUHJUDYLGDQQLDOO¶DSSDUHFFKLR
1RQODVFLDUHODPDFFKLQDDWHPSHUDWXUDDPELHQWHLQIHULRUHD&LQTXDQWRLO
UHVLGXRG¶DFTXDQHOODFDOGDLDSRWUHEEHJKLDFFLDUHHSURYRFDUHGHLGDQQL
1RQXVDUHO¶DSSDUHFFKLRDOO¶DSHUWR
1RQODVFLDUHO¶DSSDUHFFKLRHVSRVWRDGDJHQWLDWPRVIHULFLSLRJJLDVROHHFF
'RSRDYHUVWDFFDWRODVSLQDGLDOLPHQWD]LRQHHGRSRFKHOHSDUWLFDOGHVLVDUDQQR
IUHGGDWHO¶DSSDUHFFKLRGRYUjHVVHUHSXOLWRHVFOXVLYDPHQWHFRQXQSDQQRQRQ
DEUDVLYRDSSHQDLQXPLGLWRDJJLXQJHQGRSRFKHJRFFHGLGHWHUJHQWLQHXWULQRQ
DJJUHVVLYLQRQXVDUHPDLVROYHQWLFKHGDQQHJJLDQRODSODVWLFD
&216(59$5(6(035(48(67(,6758=,21,
,7
'(6&5,=,21('(//·$33$5(&&+,2
$  &RSHUFKLRVHUEDWRLR

HURJD]LRQHFDIIq
%  6HUEDWRLRDFTXDHVWUDLELOH

HURJD]LRQHYDSRUH
&  &RUSRPDFFKLQD 0  6SLDWHPSHUDWXUDFDOGDLD
'  6SLDDFFHQVLRQH 1  *ULJOLD
(  &DYRGLDOLPHQWD]LRQH 2  9LWHGLEORFFDJJLRGHOGLVFRJRFFLRODWRUH
)  ,QWHUUXWWRUHGLDFFHQVLRQH 3  )HUPRSHUEORFFDJJLRSRUWD¿OWUR
*  6XSSRUWRSHUJDOOHJJLDQWH 4  3RUWD¿OWUR
+  ,QGLFDWRUHYDVFKHWWDUDFFRJOLJRFFHSLHQD 5  'LVFRJRFFLODWRUH
,  9DVFKHWWDUDFFRJOLJRFFHHVWUDLELOH 6  )LOWURFDIIqWD]]D
-  *ULJOLDDSSRJJLDWD]]HHVWUDLELOH 7  )LOWURFDIIqWD]]H
.  7XERYDSRUH 8  )LOWURSHUFLDOGH
/  0DQRSRODGLHURJD]LRQHFDIIqRYDSRUH 9  3UHVVLQRPLVXULQRFDIIq
³67$1'%<´PDFFKLQDLQVWDQGE\ : 6SLOORSHUSXOL]LD
'DWLGLLGHQWLÀFD]LRQH
1HOODWDUJKHWWDSRVWDVRWWRODEDVHGLDSSRJJLRGHOODPDFFKLQDVRQRULSRUWDWLLVHJXHQWLGDWLG¶LGHQWL¿FD]LRQHGHOODPDFFKLQD
 FRVWUXWWRUHHPDUFDWXUD&(
 PRGHOOR0RG
 QGLPDWULFROD61
 WHQVLRQHHOHWWULFDGLDOLPHQWD]LRQH9HIUHTXHQ]D+]
 SRWHQ]DHOHWWULFDDVVRUELWD:
 QXPHURYHUGHDVVLVWHQ]D
1HOOHHYHQWXDOLULFKLHVWHDL&HQWUL$VVLVWHQ]D$XWRUL]]DWLLQGLFDUHPRGHOORHQXPHURGLPDWULFROD
,6758=,21,3(5/·862
0HVVDLQIXQ]LRQH
&RQWUROODUHFKHODWHQVLRQHGHOODUHWHGRPHVWLFDVLDXJXDOHDTXHOODLQGLFDWDVXOODWDUJKHWWDGDWLWHFQLFLGHOO¶DSSDUHFFKLR
3RVL]LRQDUHSRLODPDFFKLQDVXXQDVXSHU¿FLHSLDQD
/DYDUHLOVHUEDWRLR%DOSULPRXWLOL]]RHULHPSLUORFRQDFTXDQDWXUDOHIUHVFD)LJ¿QRDOOLYHOORLQGLFDWR³0$;´DYHQGR
SRLFXUDGLLQVHULUOREHQHQHOODVXDVHGH)LJ
9HULÀFDUHLOFRUUHWWRLQVHULPHQWRGHOVHUEDWRLRDOWULPHQWLODPDFFKLQDSRWUHEEHQRQHURJDUHFDIIq
,QVHULUHODVSLQDQHOODSUHVDGLFRUUHQWHHOHWWULFDFKHGHYHHVVHUHGRWDWDGLPHVVDDWHUUD
3ULPDDFFHQVLRQH
'RSRDYHUULHPSLWRLOVHUEDWRLRFRQDFTXDQDWXUDOHIUHVFDPHWWHUHLQIXQ]LRQHODPDFFKLQDSUHPHQGRLOWDVWR))LJ6L
DFFHQGHUjODVSLD'ODTXDOHLQGLFDFKHODPDFFKLQDqDFFHVDHODVSLD0DGLQGLFDUHFKHODFDOGDLDLQWHUQDLQL]LDDULVFDO
GDUVL3RVL]LRQDUHXQUHFLSLHQWHVRWWRDOODÀDQJLDGLDJJDQFLRGHOSRUWD¿OWURHUXRWDUHODPDQRSROD/YHUVRODSRVL]LRQHFDIIq
¿QRDTXDQGRVLYHGUjIXRULXVFLUHDFTXDGDOODVHGHGHOSRUWD¿OWUR)LJ
&20()$5(,/&$))Ë
6FHJOLHUHLO¿OWURGHVLGHUDWR6SHUWD]]DH7SHUWD]]HHLQVHULUORQHOSRUWD¿OWUR)LJ
'RVDUHLOFDIIqQHO¿OWURHSUHVVDUHOHJJHUPHQWHFRQO¶DSSRVLWRSUHVVLQR)LJSHUGXHFDIIqULHPSLUHFRPSOHWDPHQWHGXH
PLVXULQLPHQWUHSHUXQFDIIqULHPSLUQHXQRVROR,QQHVWDUHLOSRUWD¿OWURQHOO¶DSSRVLWDVHGH)LJ
6HUUDUOREHQHUXRWDQGRORGDVLQLVWUDYHUVRGHVWUDDVVLFXUDQGRVLGLDYHUOREHQDJJDQFLDWRDOODÁDQJLD)LJ
$WWHQ]LRQH
6HYLHQHLQVHULWDXQDTXDQWLWjHFFHVVLYDGLSROYHUHGLFDIIqDOO¶LQWHUQRGHO¿OWURODURWD]LRQHGHOSRUWD¿OWURSXzULVXO
WDUHGLI¿FROWRVDHRGXUDQWHO¶HURJD]LRQHGHOFDIIqVLSRVVRQRDYHUHSHUGLWHGDOSRUWD¿OWUR
3HUDYHUHDQFKHLOSULPRFDIIqEHQFDOGRqFRQVLJOLDELOHODVFLDUULVFDOGDUHLOSRUWD¿OWURWHQHQGRORLQVHULWRQHOODVXDVHGHSHU
TXDOFKHPLQXWRSULPDGLIDUHLOFDIIq4XHVWRQRQVDUjQHFHVVDULRSHULVXFFHVVLYLFDIIq
3RVL]LRQDUHXQDRGXHWD]]HVRWWRLEHFFXFFLGHOSRUWD¿OWUR)LJHDYYLDUHO¶HURJD]LRQHUXRWDQGRODPDQRSROD/YHU
VRODSRVL]LRQHFDIIq
LQL]LHUjODIXRULXVFLWDGHOFDIIqGDLEHFFXFFLGHOSRUWD¿OWUR3HULQWHUURPSHUODULSRUWDUHODPDQRSROD
QHOODSRVL]LRQHFHQWUDOHGL67$1'%</DGRVHPDVVLPDSHUXQFDIIqHVSUHVVRqGLPO
$WWHQ]LRQH
&RPHQHOOHPDFFKLQHGDFDIIqSURIHVVLRQDOLQRQWRJOLHUHLOSRUWD¿OWURTXDQGRO¶HURJD]LRQHqLQFRUVRSHULFRORGL
XVWLRQL
,7
$WWHQ]LRQH
$OWHUPLQHGHOO¶HURJD]LRQHGHOFDIIqDWWHQGHUHXQDGHFLQDGLVHFRQGLSULPDGLGLVLQVHULUHLOSRUWD¿OWURSHUULPXRYHUHLO
SRUWD¿OWURUXRWDUOROHQWDPHQWHGDGHVWUDYHUVRVLQLVWUDRQGHHYLWDUHVSUX]]LRVFKL]]LGLDFTXDRFDIIq
3HUWRJOLHUHLUHVLGXLGLFDIIqGDO¿OWURVSLQJHUHLOIHUPRSHULOEORFFDJJLRGHO¿OWUR3LQDYDQWLROWUHLOERUGRGHO¿OWURVWHVVR
URYHVFLDUHLOSRUWD¿OWURHVFXRWHUHGHOLFDWDPHQWH)LJ
4XDQGRODPDFFKLQDqLQSRVL]LRQHGL67$1'%<ODVSLD0VLVSHJQHUjHDFFHQGHUjSHULRGLFDPHQWHPRVWUDQGRO¶LQWHU
YHQWRGHOWHUPRVWDWRGHOODFDOGDLDFKHVHUYHDPDQWHQHUHRWWLPDOHODWHPSHUDWXUDGHOO¶DFTXDÊRSSRUWXQRVLDSHULOSULPR
FDIIqFKHSHULVXFFHVVLYLDYYLDUHO¶HURJD]LRQHGHOFDIIqVRORTXDQGRWDOHVSLDqVSHQWD
5LHPSLPHQWRGHOVHUEDWRLRG·DFTXDGXUDQWHO·XVR
6LUDFFRPDQGDGLULHPSLUHLOVHUEDWRLRSULPDFKHO¶DFTXDVLDFRPSOHWDPHQWHHVDXULWD
6SHJQHUHODPDFFKLQD6WDFFDUHODVSLQDGDOODSUHVDGLFRUUHQWH(VWUDUUHLOVHUEDWRLR5LHPSLUHLOVHUEDWRLR¿QRDOOLYHOOR
LQGLFDWR³0$;´FRQDFTXDQDWXUDOHIUHVFD3RVL]LRQDUHLOVHUEDWRLRVXOODPDFFKLQDDVVLFXUDQGRVLGLDYHUOREHQLQVHULWRH
ULDFFHQGHUH
1HOFDVRLQFXLLOVHUEDWRLRVLDULPDVWRFRPSOHWDPHQWHVHQ]DDFTXDSXzDFFDGHUHFKHO¶DULDHQWULQHOFLUFXLWRLPSHGHQGR
O¶HURJD]LRQHGHOFDIIq3HUULDWWLYDUHODPDFFKLQDRFFRUUHUjSHUWDQWRVSHQJHUODHODVFLDUODUDIIUHGGDUH3RVL]LRQDUHXQUHFL
SLHQWHVRWWRODVHGHGLDJJDQFLRGHOSRUWD¿OWURHGDFFHQGHUHODPDFFKLQDUXRWDQGRVXELWRODPDQRSROD/YHUVRODSRVL]LRQH
FDIIq
 

)DUIXRULXVFLUHDOPHQRXQDWD]]DG¶DFTXDGDOODVHGHGLDJJDQFLRGHOSRUWD¿OWURSHUULDWWLYDUHLOFLUFXLWRLGUDXOLFR,QWHUURPSHUH
O¶HURJD]LRQHULSRUWDQGRODPDQRSROD/LQSRVL]LRQHFHQWUDOHGL67$1'%<$TXHVWRSXQWRODPDFFKLQDULFRPLQFHUjD
IXQ]LRQDUHUHJRODUPHQWH
&20()$5(,/&$))Ë&21&,$/'$
,QVHULUHQHOSRUWD¿OWUR4LO¿OWURSHUFLDOGH8
 3RVL]LRQDUHODFLDOGDQHO¿OWUR)LJ
 6SLQJHUHODFLDOGDFRQOHGLWDYHUVRO¶LQWHUQR)LJ
 /DFLDOGDGHYHHVVHUHEHQFHQWUDWDHFROORFDWDDOO¶LQWHUQRGHOSRUWD¿OWUR
 $GHVVRqSRVVLELOHLQVHULUHLOSRUWD¿OWURQHOODVXDVHGH6HUUDUHEHQHLOSRUWD¿OWURDVVLFXUDQGRVLGLDYHUOREHQDJJDQFLDWR
DOODÀDQJLD)LJ
 'RSRDYHUSUHSDUDWRLOFDIIqQHOWRJOLHUHLOSRUWD¿OWURODFLDOGDSRWUHEEHULPDQHUHLQFDVWUDWDQHOODSDUWHVXSHULRUHGHOOD
PDFFKLQD3HUWRJOLHUODLQFOLQDUHLOSRUWD¿OWUR)LJODVFLDQGRFKHODFLDOGDULFDGDVXOORVWHVVR
3HUDYHUHXQFDIIqVHPSUHRWWLPRRFFRUUHDFTXLVWDUHODFLDOGDFKHSUHVHQWDLOPDUFKLRGLFRPSDWLELOLWj(6(
6HODFLDOGDQRQqEHQHLQVHULWDRLOSRUWDÀOWURQRQqEHQVHUUDWRSRWUHEEHIXRULXVFLUHTXDOFKHJRFFLDGLDFTXDGDO
SRUWDÀOWURVWHVVR
&20()$5(,/&$338&&,12
$WWHQGHUHFKHVLVSHQJDODVSLD0ODTXDOHLQGLFDFKHODFDOGDLDqJLXQWDDOODJLXVWDWHPSHUDWXUDSHUHURJDUHYDSRUH
$WWHQ]LRQH
6HQHOODIDVHGLDWWHVDYDSRUHVLGRYHVVHURYHUL¿FDUHSLFFROLVEXI¿GLYDSRUHGDOODÀDQJLDGHOSRUWD¿OWURLOIHQRPHQR
qGDULWHQHUVLDVVROXWDPHQWHQRUPDOH
5XRWDUHODPDQRSROD/VXOODSRVL]LRQHGLHURJD]LRQHYDSRUH
DYHQGRO¶DFFRUWH]]DGLSRVL]LRQDUHXQELFFKLHUHVRWWRDO
WXERYDSRUH.)LJGDSSULPDXVFLUjXQSR¶G¶DFTXDHVXELWRGRSRXQJHWWRGLYDSRUHODFXLLQWHQVLWjDXPHQWHUjHQWUR
TXDOFKHVHFRQGR
5LSRUWDUHODPDQRSROD/LQSRVL]LRQH³67$1'%<´HSRUUHVRWWRO¶DFFHVVRULRSHUVFKLXPDLOEULFFRGHOODWWHGDPRQWDUH
,PPHUJHUHDIRQGRORVWLORQHOEULFFRGHOODWWH)LJHUXRWDUHQXRYDPHQWHODPDQRSRODGLHURJD]LRQH/SURJUHVVLYD
PHQWHVXOODSRVL]LRQHYDSRUH ¿QRDGRWWHQHUHLOULVXOWDWRYROXWR'XUDQWHTXHVWHRSHUD]LRQLVLSRWUjQRWDUHFKHODVSLD
0VLVSHJQHHULDFFHQGHSHULRGLFDPHQWHLQGLFDQGRJOLLQWHUYHQWLGHOWHUPRVWDWRFKHPDQWLHQHODJLXVWDWHPSHUDWXUDGHOOD
FDOGDLDSHUO¶HURJD]LRQHGHOYDSRUH5LSRUWDUHODPDQRSROD/VX³67$1'%<´SHUWHUPLQDUHO¶HURJD]LRQHGLYDSRUH
'RSRRJQLXWLOL]]RHURJDUHLOYDSRUHSHUDOFXQLVHFRQGLSHUOLEHUDUHLOIRURGDHYHQWXDOLUHVLGXLGLODWWH3XOLUHLOWXER
YDSRUHFRQXQDVSXJQHWWD
&216,*/,87,/,3(535(3$5$5(81%821(635(662$//·,7$/,$1$
,OFDIIqPDFLQDWRQHOSRUWD¿OWURGRYUjHVVHUHSUHVVDWROHJJHUPHQWH8QFDIIqSLIRUWHRPHQRIRUWHGLSHQGHGDOJUDGRGL
PDFLQDWXUDGHOFDIIqGDOODTXDQWLWjGLHVVRLPPHVVDQHOSRUWD¿OWURHGDOODSUHVVDWXUD3RFKLVHFRQGLVRQRLOWHPSRVXI¿
FLHQWHSHUFKpLOFDIIqVFHQGDQHOOHWD]]LQH6HLOWHPSRGLHURJD]LRQHqVXSHULRUHVLJQL¿FDFKHODPDFLQDWXUDqWURSSR¿QHR
FKHODSROYHUHLPPHVVDQHOSRUWD¿OWURqVWDWDSUHVVDWDHFFHVVLYDPHQWH
,7
38/,=,$'(//·$33$5(&&+,2
$WWHQ]LRQH
7XWWHOHRSHUD]LRQLGLSXOL]LDVRWWRLQGLFDWHGHYRQRHVVHUHHIIHWWXDWHDPDFFKLQDVSHQWDHFRQODVSLQDHOHWWULFD
VFROOHJDWDGDOODSUHVDGLFRUUHQWH
$WWHQ]LRQH
8QDPDQXWHQ]LRQHHGXQDSXOL]LDUHJRODULPDQWHQJRQRHI¿FLHQWHODPDFFKLQDSHUXQSHULRGRPDJJLRUH1RQODYDUH
PDLLFRPSRQHQWLGHOODPDFFKLQDLQODYDVWRYLJOLH1RQXWLOL]]DUHJHWWLGLDFTXDGLUHWWD
$WWHQ]LRQH
2JQLLQWHUYHQWRYDHVHJXLWRDPDFFKLQDIUHGGD
3XOL]LDGHOÀOWURFRQWHQHQWHLOPDFLQDWR
9HUL¿FDUHFKHLOIRUHOOLQRGLXVFLWDFDIIqQRQVLDRWWXUDWRHQHOFDVRULSXOLUORFRQORVSLOORLQGRWD]LRQH)LJ
$WWHQ]LRQH
0DQHJJLDUHFRQFXUDORVSLOORLQGRWD]LRQHGXUDQWHODIDVHGLSXOL]LDGHOO¶DSSDUHFFKLRSHULFRORGLIHULWD
)DUHURJDUHDFTXDEROOHQWHGDOSRUWD¿OWURFRQLO¿OWURLQVHULWRVHQ]DODSROYHUHSHUVFLRJOLHUHRULPXRYHUHHYHQWXDOLUHVLGXL
GLFDIIqRLPSXULWj6LFRQVLJOLDGLSXOLUHDFFXUDWDPHQWHLO¿OWUR6R7RJQLFLUFDPHVLXWLOL]]DQGROHSDVWLJOLHGHWHUJHQWL
&2))((&/($1GL$ULHWHUHSHULELOLSUHVVRLSXQWLYHQGLWDHGL&HQWUL$VVLVWHQ]D$XWRUL]]DWLVHJXHQGROHLVWUX]LRQLFRQWHQXWH
QHOODFRQIH]LRQHRSSXUHLQDOWHUQDWLYDXWLOL]]DQGRXQDSDVWLJOLDGLGHWHUVLYRVHPSOLFHVHQ]DDJJLXQWDGLEULOODQWDQWHRDOWUL
DGGLWLYLFKLPLFLSHUODYDVWRYLJOLHQHOVHJXHQWHPRGR
 ,QVHULUHXQDSDVWLJOLDGLGHWHUVLYRGDODYDVWRYLJOLHQHO¿OWURVHQ]DFDIIqTXDQGRODPDFFKLQDqEHQFDOGDGRSRDOPHQR
PLQXWLGLULVFDOGDPHQWR
 $JJDQFLDUHLOSRUWD¿OWURDOODPDFFKLQDHPHWWHUHXQUHFLSLHQWHVRWWRLOSRUWD¿OWUR
 5XRWDUHODPDQRSROD/YHUVRODSRVL]LRQHFDIIq
SHUDYYLDUHO¶HURJD]LRQHGHOO¶DFTXDHGHURJDUHDFTXDSHU
VHFRQGL
 ,QWHUURPSHUHO¶HURJD]LRQHHODVFLDUHDJLUHODSDVWLJOLDSHUDOPHQRPLQXWLPDQWHQHQGRLOSRUWD¿OWURLQVHULWRVXOODPDF
FKLQD
 5LSHWHUHO¶RSHUD]LRQHGLHURJD]LRQHGHOO¶DFTXDIDFHQGRIXQ]LRQDUHODSRPSDSHUFLUFDVHFRQGLHSRLODVFLDQGR
ULSRVDUHSHUDOWULVHFRQGL¿QRDGHVDXULUHGXHVHUEDWRLGLDFTXD
 5LPXRYHUHLOSRUWD¿OWURGDOODPDFFKLQDHVWUDUUHLO¿OWURHVFLDFTXDUOREHQHVRWWRO¶DFTXDFRUUHQWHGHOUXELQHWWR
 6SHJQHUHODPDFFKLQDVFROOHJDUHLOFDYRGLDOLPHQWD]LRQHGDOODSUHVDGLFRUUHQWHHSXOLUHFRQXQDVSXJQHWWDODVHGHGL
DJJDQFLRGHOSRUWD¿OWURSHUULPXRYHUHHYHQWXDOLUHVLGXLGLGHWHUVLYRGDOODGRFFLD
 5LDFFHQGHUHODPDFFKLQDDJJDQFLDUHQXRYDPHQWHLOSRUWD¿OWURHGHURJDUHDQFRUDDOPHQRWD]]HGLDFTXDSHUFRPSOH
WDUHLOULVFLDFTXR
6HODPDFFKLQDGDFDIIqYLHQHXWLOL]]DWDTXRWLGLDQDPHQWHVLFRQVLJOLDGLHIIHWWXDUHO¶RSHUD]LRQHGLSXOL]LDDOPHQRRJQLWUH
PHVL
3XOL]LDGHOODVHGHGHOSRUWDÀOWUR
&RQO¶XVRVLSXzYHUL¿FDUHQHOODVHGHGLDJJDQFLRGHOSRUWD¿OWURXQDVHGLPHQWD]LRQHGLIRQGLGLFDIIqFKHSRVVRQRHVVHUH
ULPRVVLFRQXQRVWX]]LFDGHQWLFRQXQDVSXJQHWWD)LJRSSXUHODVFLDQGRVFRUUHUHDFTXDVHQ]DSRUWD¿OWURLQVHULWR)LJ
3XOL]LDGHOWXERYDSRUH
$WWHQ]LRQH
(VHJXLUHO¶RSHUD]LRQHTXDQGRLOWXERFURPDWRqIUHGGRSHUHYLWDUHVFRWWDWXUH
6¿ODUHLOWXERYDSRUH.)LJHODYDUORFRQDFTXDFRUUHQWH/¶XJHOORSXzHVVHUHSXOLWRFRQXQSDQQRQRQDEUDVLYR0RQWD
UHLOWXERYDSRUH¿QRDOOD¿QHGHOODFRUVD6HQHFHVVDULRULSXOLUHFRQORVSLOOR:LQGRWD]LRQHLOIRUHOOLQRGLXVFLWDGHOYDSRUH
)LJ'RSRRJQLXWLOL]]RHURJDUHLOYDSRUHSHUDOFXQLVHFRQGLSHUOLEHUDUHLOIRURGDHYHQWXDOLUHVLGXL
3XOL]LDGHOVHUEDWRLR
6LFRQVLJOLDGLSXOLUHSHULRGLFDPHQWHO¶LQWHUQRGHOVHUEDWRLRFRQXQDVSXJQDRXQSDQQRXPLGR
3XOL]LDGHOODJULJOLDHGHOODYDVFDUDFFRJOLJRFFH
5LFRUGDUVLGLVYXRWDUHGLWDQWRLQWDQWRODYDVFKHWWDUDFFRJOLJRFFH,
6¿ODUHODYDVFDUDFFRJOLJRFFH,GDOODPDFFKLQD)LJVYXRWDUODHODYDUODVRWWRO¶DFTXDFRUUHQWH
/DYDUHODJULJOLD-VRWWRO¶DFTXDFRUUHQWH
,7
3XOL]LDGHOFRUSRPDFFKLQD
$WWHQ]LRQH
3XOLUHOHSDUWL¿VVHGHOODPDFFKLQDXVDQGRXQSDQQRXPLGRQRQDEUDVLYRSHUQRQGDQQHJJLDUHODFDUUR]]HULD
'(&$/&,),&$=,21(
8QDEXRQDPDQXWHQ]LRQHHGXQDUHJRODUHSXOL]LDSUHVHUYDQRHPDQWHQJRQRHI¿FLHQWHODPDFFKLQDSHUXQSHULRGRPDJJLRUH
OLPLWDQGRQRWHYROPHQWHLULVFKLGLIRUPD]LRQHGLGHSRVLWLFDOFDUHLQHOO¶DSSDUHFFKLR6HQRQRVWDQWHFLzGRSRTXDOFKHWHPSR
ODIXQ]LRQHGHOO¶DSSDUHFFKLRGRYHVVHHVVHUHFRPSURPHVVDLQVHJXLWRDOO¶XVRIUHTXHQWHGLDFTXDGXUDHPROWRFDOFDUHD
VLSXzSURFHGHUHDOODGHFDOFL¿FD]LRQHGHOODPDFFKLQDSHUHOLPLQDUHLOPDOIXQ]LRQDPHQWR8WLOL]]DWHSHUTXHVWRVFRSRHV
FOXVLYDPHQWHLOSURGRWWRGHFDOFL¿FDQWH12&$/GL$ULHWHDEDVHGLDFLGRFLWULFR4XHVWRSURGRWWRVLSXzUHSHULUHIDFLOPHQWH
QHLFHQWULGLDVVLVWHQ]DWHFQLFD$ULHWH$ULHWHQRQVLDVVXPHDOFXQDUHVSRQVDELOLWjSHUGDQQLDLFRPSRQHQWLLQWHUQLGHOOD
PDFFKLQDGDFDIIqDUUHFDWLGDOO¶XVRGLSURGRWWLQRQFRQIRUPLDFDXVDGHOODSUHVHQ]DGLDGGLWLYLFKLPLFL,QFDVRGLQHFHVVLWj
GLXQDGHFDOFL¿FD]LRQHRVVHUYDWHOHLQGLFD]LRQLVXOIRJOLRGLLVWUX]LRQLGHOSURGRWWRGHFDOFL¿FDQWH
0(66$)825,6(59,=,2
,QFDVRGLPHVVDIXRULVHUYL]LRGHOODPDFFKLQDRFFRUUHVFRQQHWWHUOD HOHWWULFDPHQWHVYXRWDUH LOVHUEDWRLR GHOO¶DFTXDHOD
YDVFKHWWDUDFFRJOLJRFFHHULSXOLUODYHGLSDUDJUDIR³3XOL]LDGHOO¶DSSDUHFFKLR´,QFDVRGLURWWDPD]LRQHVLGRYUjSURYYHGHUH
DOODVHSDUD]LRQHGHLYDULPDWHULDOLXWLOL]]DWLQHOODFRVWUX]LRQHGHOODPDFFKLQDHSURYYHGHUHDOORURVPDOWLPHQWRLQEDVHDOOD
ORURFRPSRVL]LRQHHDOOHGLVSRVL]LRQLGLOHJJHYLJHQWLQHO3DHVHGLXWLOL]]R
*8,'$$//$62/8=,21(',$/&81,352%/(0,
,QFDVRGLDQRPDOLHGLIXQ]LRQDPHQWRVSHJQHUHLPPHGLDWDPHQWHODPDFFKLQDHV¿ODUHODVSLQDGDOODSUHVDHOHWWULFD
352%/(0, &$86( 5,0(',
/DPDFFKLQDQRQ
HURJDYDSRUH
&¶qSRFDDFTXDHODSRPSDQRQ
DVSLUD
9HUL¿FDUHFKHLOVHUEDWRLRVLDEHQLQVHULWRHFRQWUROODUHFKHLO
OLYHOORGHOO¶DFTXDQHOVHUEDWRLRVLDUHJRODUH
5LHPSLUHFRQDFTXDQDWXUDOHIUHVFD¿QRDOOLYHOORLQGLFDWR
³0$;´
)RURGLXVFLWDYDSRUHRVWUXLWR 6WDVDUHFRQORVSLOORLQGRWD]LRQHHYHQWXDOLLQFURVWD]LRQL
IRUPDWRVLQHLIRULGHOWXERYDSRUH
)XRULXVFLWDGL
FDIIqGDLERUGLGHO
SRUWD¿OWUR
3UREDELOPHQWHQHOSRUWD¿OWUR
qVWDWDLPPHVVDXQDTXDQWLWj
HFFHVVLYDGLFDIIqPDFLQDWRFKH
KDLPSHGLWRGLVWULQJHUHDIRQGRLO
SRUWD¿OWURQHOODVXDVHGH
7RJOLHUHLOSRUWD¿OWURHULSXOLUHODVHGHGLDJJDQFLRFRQXQD
VSXJQHWWD)LJ5LSHWHUHO¶RSHUD]LRQHLPPHWWHQGRQHO
¿OWURODJLXVWDTXDQWLWjGLFDIIq
6XOODJXDUQL]LRQHGHOODVHGHGL
DJJDQFLRGHOSRUWD¿OWURVRQR
ULPDVWLUHVLGXLGLFDIIqPDFLQDWR
3URYYHGHUHDULSXOLUHODJXDUQL]LRQHFRQXQRVWX]]LFDGHQWLR
FRQXQDVSXJQHWWD)LJ
,O¿OWURFRQWHQHQWHPDFLQDWRKDLO
IRUHOOLQRGLXVFLWDFDIIqRVWUXLWR
5LPXRYHUHHGLVLQVHULUHOHQWDPHQWHLOSRUWD¿OWURSHUFKpO¶HYHQ
WXDOHSUHVVLRQHUHVLGXDSRWUHEEHSURYRFDUHVSUX]]LRVFKL]]L
5LSXOLUHFRQORVSLOORLQGRWD]LRQHLOIRUHOOLQRRWWXUDWRGHO¿OWUR
'HWHUJHUHLO¿OWURXWLOL]]DQGROHSDVWLJOLH&2))((&/($1GL
$ULHWHVHJXHQGROHLVWUX]LRQLULSRUWDWHQHOODFRQIH]LRQH
&LDOGDGLIHWWRVD 5LPXRYHUHHGLVLQVHULUHOHQWDPHQWHLOSRUWD¿OWURSHUFKp
O¶HYHQWXDOHSUHVVLRQHUHVLGXDSRWUHEEHSURYRFDUHVSUX]]LR
VFKL]]L5LSXOLUHODVHGHGLDJJDQFLRFRQXQDVSXJQHWWD)LJ
6RVWLWXLUHODFLDOGDQHOSRUWD¿OWUR

,7
352%/(0, &$86( 5,0(',
/¶HURJD]LRQHGHO
FDIIqQRQDYYLHQH
RDYYLHQHWURSSR
OHQWDPHQWH
,OGLVFRIRUDWRSUHVHQWHQHOOD
VHGHGLDJJDQFLRGHOSRUWD¿OWUR
KDLIRULRVWUXLWL
$]LRQDUHODPDFFKLQDVHQ]DSRUWD¿OWURIDFHQGRGHÀXLUHO¶DF
TXD6HO¶DFTXDFRQWLQXDDQRQXVFLUHXQLIRUPHPHQWHGDWXWWLL
IRULHVHJXLUHODSXOL]LDDQWLFDOFDUHXWLOL]]DQGRLOSURGRWWR$ULHWH
12&$/UHSHULELOHQHLFHQWULGLDVVLVWHQ]D$ULHWHVHJXHQGROH
LVWUX]LRQLULSRUWDWHQHOODFRQIH]LRQH
,O¿OWURFRQWHQHQWHPDFLQDWRKDLO
IRUHOOLQRGLXVFLWDFDIIqRVWUXLWR
5LPXRYHUHHGLVLQVHULUHOHQWDPHQWHLOSRUWD¿OWURSHUFKpO¶HYHQ
WXDOHSUHVVLRQHUHVLGXDSRWUHEEHSURYRFDUHVSUX]]LRVFKL]]L
5LSXOLUHFRQORVSLOORLQGRWD]LRQHLOIRUHOOLQRRWWXUDWRGHO¿OWUR
'HWHUJHUHLO¿OWURXWLOL]]DQGROHSDVWLJOLH&2))((&/($1GL
$ULHWHVHJXHQGROHLVWUX]LRQLULSRUWDWHQHOODFRQIH]LRQH
0LVFHODGLFDIIqPDFLQDWDWURSSR
¿QH
3URYDUHDGXWLOL]]DUHPLVFHOHGLFDIIqDJUDQDSLJURVVD
0LVFHODGLFDIIqWURSSRSUHVVDWD 3UHVVDUHLOFDIIqQHO¿OWURFRQPLQRUSUHVVLRQH
,OVHUEDWRLRQRQqEHQLQVHULWR ,QVHULUHEHQHLOVHUEDWRLRVSLQJHQGRORDIRQGR
&¶qSRFDDFTXDHODSRPSDQRQ
DVSLUD
9HUL¿FDUHFKHLOVHUEDWRLRVLDEHQLQVHULWRHFRQWUROODUHFKH
LOOLYHOORGHOO¶DFTXDQHOVHUEDWRLRVLDUHJRODUH5LHPSLUHFRQ
DFTXDQDWXUDOHIUHVFD¿QRDOOLYHOORLQGLFDWR³0$;´
&LDOGDGLIHWWRVD 5LPXRYHUHHGLVLQVHULUHOHQWDPHQWHLOSRUWD¿OWURSHUFKp
O¶HYHQWXDOHSUHVVLRQHUHVLGXDSRWUHEEHSURYRFDUHVSUX]]LR
VFKL]]L5LSXOLUHODVHGHGLDJJDQFLRFRQXQDVSXJQHWWD)LJ
6RVWLWXLUHODFLDOGDQHOSRUWD¿OWUR
5RWWXUDGHOODFLDOGD 5LPXRYHUHHGLVLQVHULUHOHQWDPHQWHLOSRUWD¿OWURSHUFKp
O¶HYHQWXDOHSUHVVLRQHUHVLGXDSRWUHEEHSURYRFDUHVSUX]]LR
VFKL]]L5LSXOLUHODVHGHGLDJJDQFLRFRQXQDVSXJQHWWD)LJ
6RVWLWXLUHODFLDOGDQHOSRUWD¿OWUR
,OFDIIqqWURSSR
DFTXRVRHIUHGGR
/DPLVFHODqVWDWDPDFLQDWD
WURSSRJURVVD
3HURWWHQHUHXQFDIIqSLFRQFHQWUDWRHSLFDOGRVLGHYH
XVDUHXQDPLVFHODSL¿QHPHQWHPDFLQDWD

(1
:,7+5(*$5'727+,60$18$/
(YHQLIWKHDSSOLDQFHVDUHPDGHLQFRQIRUPLW\ZLWKWKH(XURSHDQUHJXODWRU\VSHFL¿FDWLRQVLQIRUFHDQGWKHUHIRUHDOOSRWHQ
WLDOO\KD]DUGRXVSDUWVDUHSURWHFWHG&DUHIXOO\UHDGWKHVHZDUQLQJVDQGXVHWKHDSSOLDQFHRQO\IRUWKHXVHLWLVGHVLJQHGIRU
LQRUGHUWRSUHYHQWDFFLGHQWVDQGGDPDJH.HHSWKLVPDQXDOFORVHE\IRUIXWXUHFRQVXOWDWLRQ,I\RXVKRXOGGHFLGHWRJLYH
WKLVDSSOLDQFHWRRWKHUSHRSOHUHPHPEHUWRDOVRLQFOXGHWKHVHLQVWUXFWLRQV
7KHLQIRUPDWLRQSURYLGHGLQWKLVPDQXDOLVPDUNHGZLWKWKHIROORZLQJV\PEROVLQGLFDWLQJ
'DQJHUIRUFKLOGUHQ
:DUQLQJRIEXUQV
'DQJHUGXHWRHOHFWULFLW\ :DUQLQJ±PDWHULDOGDPDJH
'DQJHURIGDPDJHRULJLQDWLQJIURPRWKHUFDXVHV
,17(1'('86(
<RXPD\XVH\RXU&DIIq0LQXHWWRWRSUHSDUHFRIIHHDQGFDSSXFFLQRV7KLVDSSOLDQFHLVGHVLJQHGRQO\IRUSULYDWHXVHDQG
LVWKHUHIRUHWREHFRQVLGHUHGXQVXLWDEOHIRUFRPPHUFLDORULQGXVWULDOSXUSRVHV
1RRWKHUXVHRIWKHPDFKLQHLVFRQWHPSODWHGE\WKHPDQXIDFWXUHUZKLFKLVH[HPSWIURPDQ\OLDELOLW\IRUDOOW\SHVRIGDPDJHV
FDXVHGE\LPSURSHUXVHRIWKHPDFKLQH,PSURSHUXVHDOVRUHVXOWVLQDQ\IRUPRIZDUUDQW\EHLQJIRUIHLWHG
5(6,'8$/5,6.6
7KHFRQVWUXFWLRQFKDUDFWHULVWLFVRIWKHDSSOLDQFHWKLVSXEOLFDWLRQUHIHUVWRGRQRWDOORZWKHXVHUWREHSURWHFWHGIURPDGLUHFW
MHWRIVWHDPRUKRWZDWHU
:DUQLQJ
'DQJHURIEXUQV±:KHQGLVSHQVLQJKRWZDWHUDQGVWHDPGRQRWGLUHFWWKHMHWVWRZDUGVRWKHUVRU\RXUVHOI+ROG
RQO\WKHSODVWLFSDUWRIWKHWXEH
8VHRQO\FRQWDLQHUVPDGHRIPDWHULDO³IRUIRRGV´
,03257$176$)(*8$5'6
5($'7+(,16758&7,216&$5()8//<%()25(86(
7KLVDSSOLDQFHLVGHVLJQHGRQO\IRUSULYDWHXVHDQGLVWKHUHIRUHWREHFRQVLGHUHG
XQVXLWDEOHIRUFRPPHUFLDORULQGXVWULDOSXUSRVHV
:HGHFOLQHDQ\UHVSRQVLELOLW\UHVXOWLQJIURPPLVXVHRUDQ\XVHRWKHUWKDQWKRVH
FRYHUHGLQWKLVERRNOHW
:HVXJJHVW\RXNHHSWKHRULJLQDOER[DVRXUIUHHRIFKDUJHVHUYLFHGRHVQRW
FRYHUWUDQVSRUWDWLRQGDPDJHGXHWRLQDGHTXDWHSDFNDJLQJRIWKHSURGXFWZKHQ
VHQWWRDQ$XWKRULVHG6HUYLFH&HQWUH
7KLVSURGXFWFRPSOLHVZLWKWKH&('LUHFWLYHDQG(0&'LUHFWLYH
((&
'DQJHUIRUFKLOGUHQ
7KLVDSSOLDQFHFDQEHXVHGE\FKLOGUHQDJHGIURP\HDUVDQGDERYHDQGSHU
VRQVZLWKUHGXFHGSK\VLFDOVHQVRU\RUPHQWDOFDSDELOLWLHVRUODFNRIH[SHULHQFH
DQGNQRZOHGJHLIWKH\KDYHEHHQJLYHQVXSHUYLVLRQRULQVWUXFWLRQFRQFHUQLQJXVH
RIWKHDSSOLDQFHLQDVDIHZD\DQGXQGHUVWDQGWKHKD]DUGVLQYROYHG
&KLOGUHQVKDOOQRWSOD\ZLWKWKHDSSOLDQFH
&OHDQLQJDQGXVHUPDLQWHQDQFHVKDOOQRWEHPDGHE\FKLOGUHQZLWKRXWVXSHUYL
VLRQ

(1
'RQRWOHDYHWKHSDFNDJLQJQHDUFKLOGUHQEHFDXVHLWLVSRWHQWLDOO\GDQJHURXV
,QWKHHYHQWWKDWWKLVDSSOLDQFHLVWREHGLVSRVHGRILWLVVXJJHVWHGWKDWWKHSRZHU
FKRUGLVFXWRII,WLVDOVRUHFRPPHQGHGWKDWDOOSRWHQWLDOO\GDQJHURXVFRPSRQHQWV
DUHUHQGHUHGKDUPOHVVWRSUHYHQWFKLOGUHQKXUWLQJWKHPVHOYHVZKHQSOD\LQJZLWK
WKHDSSDUDWXV
'RQRWOHDYHWKHFOHDQLQJSLQZLWKLQUHDFKRIFKLOGUHQDQGSXWLWLQDVDIHSODFH
GDQJHURIVZDOORZLQJDQGLQMXU\
'DQJHUGXHWRHOHFWULFLW\
'RQRWOHDYHWKHSRZHUFRUGZLWKLQWKHUHDFKRIFKLOGUHQXQGHUWKHDJHRI\HDUV
%HIRUHFRQQHFWLQJWKHDSSOLDQFHWRWKHSRZHUVXSSO\PDNHVXUHWKDWWKHYROWDJH
LQGLFDWHGRQWKHSODWHRQWKHERWWRPRIWKHPDFKLQHFRUUHVSRQGVWRWKHORFDO
PDLQVYROWDJH
7KHXVHRIH[WHQVLRQOHDGVZKLFKKDYHQRWEHHQDXWKRULVHGE\WKHDSSOLDQFH
PDQXIDFWXUHUPD\FDXVHGDPDJHDQGDFFLGHQWV

%HIRUH¿OOLQJWKHWDQNZLWKZDWHUUHPHPEHUWRDOZD\VGLVFRQQHFWWKHDSSOLDQFHDW
WKHVRFNHW
,IWKHHOHFWULFFDEOHLVGDPDJHGLWPXVWEHUHSODFHGE\WKHPDQXIDFWXUHURULWV
7HFKQLFDO$VVLVWDQFH6HUYLFHRULQDQ\FDVHE\DSHUVRQZLWKVLPLODUTXDOL¿FD
WLRQVLQRUGHUWRDYRLGDQ\ULVN
1HYHUOHWWKHOLYHSDUWVFRPHLQWRFRQWDFWZLWKZDWHUWKLVPD\FDXVHDVKRUWFLU
FXLW
8QSOXJEHIRUHDQ\FOHDQLQJRUPDLQWHQDQFHRSHUDWLRQV
'RQRWLPPHUVHWKHDSSOLDQFHLQZDWHURURWKHUOLTXLGV
$OZD\VWXUQRIIWKHDSSOLDQFHDQGUHPRYHWKHSRZHUFDEOHSOXJIURPWKHVRFNHW
RXWOHWEHIRUH¿OOLQJWKHWDQNZLWKZDWHU
'DQJHURIGDPDJHRULJLQDWLQJIURPRWKHUFDXVHV
'RQRWOLIWWKHDSSOLDQFHE\JUDVSLQJLWVZDWHUWDQNRULWVWUD\EXWRQO\E\JUDVSLQJ
LWVERG\
&KRRVHDVXI¿FLHQWO\ZHOOOLWDQGFOHDQHQYLURQPHQWZLWKDQHDVLO\DFFHVVLEOH
HOHFWULFVRFNHW
$YRLGSXWWLQJH[FHVVLYHTXDQWLWLHVRIZDWHULQWRWKHWDQN
1HYHUOHDYHWKHDSSOLDQFHXQDWWHQGHGZKHQLWLVFRQQHFWHGWRWKHSRZHUVXSSO\
7KHDSSOLDQFHPXVWEHXVHGDQGUHVWHGRQDVWDEOHVXUIDFH
7KHDSSOLDQFHLVQRWWREHXVHGLILWKDVEHHQGURSSHGLIWKHUHDUHYLVLEOHVLJQRI
GDPDJHRULILWLVOHDNLQJ'RQRWXVHWKHDSSOLDQFHLIWKHSRZHUFRUGRUWKHSOXJ
DUHGDPDJHGRULIWKHDSSOLDQFHLVIDXOW\7RSUHYHQWDQ\DFFLGHQWDOOUHSDLUVLQ
FOXGLQJWKHUHSODFHPHQWRIWKHSRZHUFRUGPXVWEHFDUULHGRXWE\DQ$XWKRULVHG
6HUYLFH&HQWUHRULQDQ\FDVHE\TXDOL¿HGSHUVRQQHO

(1
:DUQLQJRIEXUQV
1HYHUGLUHFWWKHVWHDPRUKRWZDWHUMHWWRZDUGVSDUWVRIWKHERG\KDQGOHWKH
VWHDPVSRXWZLWKFDUHULVNRIVFDOGLQJ
7KH RXWHU PHWDOOLF SDUWV RI WKH DSSOLDQFH DQG RI WKH¿OWHUKROGHU PXVW QRW EH
WRXFKHGZLWKWKHDSSOLDQFHLQRSHUDWLRQEHFDXVHLWFRXOGFDXVHEXUQV
,IZDWHUGRHVQRWFRPHRXWRIWKH¿OWHUKROGHULWPD\EHEHFDXVHWKH7KHUPR
FUHDP¿OWHULVFORJJHG,QWKLVFDVHUHPRYHDQGGLVFRQQHFWWKH¿OWHUVORZO\
EHFDXVHDQ\UHPDLQLQJSUHVVXUHFDQFDXVHVSLOODJHRUVSODVKLQJ7KHQFOHDQDV
H[SODLQHGLQWKHUHOHYDQWSDUDJUDSK
:DUQLQJ²PDWHULDOGDPDJH
3ODFHWKHPDFKLQHRQDVWDEOHVXUIDFHZKHUHLWFDQQRWEHNQRFNHGRYHU
1HYHUXVHWKHPDFKLQHZLWKRXWZDWHUEHFDXVHWKHSXPSZLOOEXUQRXW
1HYHU¿OOWKHZDWHUWDQNZLWKKRWRUERLOLQJZDWHU
'RQRWSODFHWKHPDFKLQHRQYHU\KRWVXUIDFHVRUQHDURSHQÀDPHVLQRUGHUWR
SUHYHQWGDPDJHWRWKHERG\
7KHFDEOHPXVWQRWWRXFKDQ\KRWSDUWVRIWKHPDFKLQH
'RQRWXVHVSDUNOLQJZDWHUZLWKDGGHGFDUERQGLR[LGH
1HYHUSXWVXEVWDQFHVRWKHUWKDQJURXQGFRIIHHLQWRWKH¿OWHUKROGHU7KH\FRXOG
FDXVHVHULRXVGDPDJHWRWKHDSSOLDQFH
'RQRWOHDYHWKHPDFKLQHDWDURRPWHPSHUDWXUHEHORZ&EHFDXVHWKHZDWHU
UHPDLQLQJLQWKHERLOHUFRXOGIUHH]HDQGFDXVHGDPDJH
1HYHUXVHWKHDSSOLDQFHRXWGRRUV
'RQRWH[SRVHWKHDSSOLDQFHWRDWPRVSKHULFDJHQWVUDLQVXQ«
%HIRUHFOHDQLQJWKHDSSOLDQFHDOZD\VXQSOXJLWDQGDOORZLWFRROGRZQ&OHDQRQO\
ZLWKDQRQDEUDVLYHFORWKWKDWKDVEHHQVOLJKWO\GDPSHQHGZLWKZDWHUDGGLQJD
IHZGURSVRIPLOGQRQDJJUHVVLYHGHWHUJHQWQHYHUXVHVROYHQWVWKDWGDPDJH
SODVWLF
.((37+(6(,16758&7,216,1$6$)(3/$&(
'(6&5,37,212)7+($33/,$1&(
$  7DQNFRYHU

FRIIHHGLVSHQVLQJ
%  5HPRYDEOHZDWHUWDQN

VWHDPGLVSHQVLQR
&  0DFKLQHERG\ 0  %RLOHUWHPSHUDWXUHLQGLFDWRUODPS
'  2QLQGLFDWRUODPS 1  *ULOO
(  3RZHUVXSSO\FDEOH 2  'ULSWUD\GLVNORFNLQJVFUHZ
)  2QRIIVZLWFK 3  )LOWHUKROGHUORFN
*  )ORDWVXSSRUW 4  )LOWHUKROGHU
+  )XOOGULSWUD\LQGLFDWRU 5  'ULSWUD\GLVN
,  5HPRYDEOHGULSWUD\ 6  FXSFRIIHH¿OWHU
-  5HPRYDEOHFXSJULOO 7  FXSFRIIHH¿OWHU
.  6WHDPSLSH 8  3RG¿OWHU
/  &RIIHHRUVWHDPGLVSHQVLQJNQRE 9  3RG¿OWHU
³67$1'%<´PDFKLQHLQVWDQGE\ : &OHDQLQJSLQ

(1
,GHQWLÀFDWLRQGDWD
7KHIROORZLQJPDFKLQHLGHQWL¿FDWLRQGDWDDUHVKRZQRQWKHSODWHIRXQGXQGHUQHDWKWKHPDFKLQH¶VVWDQGLQJEDVH
 PDQXIDFWXUHUDQG&(PDUN
 PRGHO0RG
 VHULDOQXPEHU61
 HOHFWULFDOVXSSO\YROWDJH9DQGIUHTXHQF\+]
 DEVRUEHGHOHFWULFSRZHU:
 DVVLVWDQFHWROOIUHHQXPEHU
$OZD\VJLYHWKHPRGHODQGVHULDOQXPEHUWRWKH$XWKRULVHG6HUYLFH&HQWUHVZKHQUHTXHVWLQJDVVLVWDQFH
35(/,0,1$5<3+$6(6)2586(
6WDUWLQJWKHDSSOLDQFH
&KHFNWKDWWKHYROWDJHRIWKHGRPHVWLFQHWZRUNLVWKHVDPHDVWKDWLQGLFDWHGRQWKHWHFKQLFDOLQIRUPDWLRQSODWHRIWKHDSSOL
DQFH3ODFHWKHDSSOLDQFHRQDÀDWVXUIDFH
:DVKWKHWDQN%WKH¿UVWWLPHLWLVXVHGDQG¿OOLWZLWKFRROWDSZDWHU)LJXSWRWKHOHYHOPDUNHG³0$;´WKHQEHLQJ
FDUHIXOWRSXWLWEDFNLQWRLWVVHDWVHFXUHO\)LJ
&KHFNWKDWWKHWDQNLVSURSHUO\LQVHUWHGRWKHUZLVHWKHPDFKLQHPD\QRWGLVSHQVHFRIIHH
,QVHUWWKHSOXJLQWRWKHVRFNHWZKLFKPXVWEHHDUWKHG
6WDUWLQJWKHÀUVWWLPH
$IWHUKDYLQJ¿OOHGWKHWDQNXSZLWKFRROWDSZDWHUVWDUWWKHPDFKLQHE\SUHVVLQJWKHEXWWRQ))LJ7KHLQGLFDWRUODPS'
ZLOOWXUQRQLQGLFDWLQJWKDWWKHPDFKLQHLVRQDVZHOODVLQGLFDWRUODPS0LQGLFDWLQJWKDWWKHLQWHUQDOERLOHULVVWDUWLQJWR
KHDWXS3ODFHGDFRQWDLQHUXQGHUQHDWKWKH¿OWHUKROGHUFRQQHFWLRQÀDQJHDQGWXUQWKHNQRE/WRWKHFRIIHHSRVLWLRQ 
XQWLO\RXVHHZDWHUFRPLQJRXWRIWKH¿OWHUKROGHUVHDW)LJ
+2:720$.(&2))((
6HOHFWWKHGHVLUHG¿OWHU6IRUFXSRU7IRUFXSVDQGSXWLWLQWRWKH¿OWHUKROGHU)LJ
0HDVXUHRXWWKHFRIIHHLQWKH¿OWHUDQGOLJKWO\SUHVVZLWKWKHVSHFLDOO\SURYLGHGSUHVVHU)LJ&RPSOHWHO\¿OOWZRPHDVXUHV
IRUWZRFXSVRIFRIIHHDQG¿OORQO\RQHIRURQHFXS,QVHUWWKH¿OWHUKROGHULQWRLWVVHDW)LJ
7LJKWHQZHOOE\WXUQLQJLWIURPOHIWWRULJKWZKLOHPDNLQJVXUH\RXKDYHKRRNHGLWSURSHUO\RQWRWKHÁDQJH)LJ
:DUQLQJ
,IWRRPXFKJURXQGFRIIHHLVSXWLQVLGHWKH¿OWHUWXUQLQJWKH¿OWHUKROGHUPD\SURYHGLI¿FXOWDQGRU\RXPD\JHWOHDNV
IURPWKH¿OWHUKROGHUZKHQWKHFRIIHHLVEHLQJGLVSHQVHG
7RJHWWKH¿UVWFXSRIFRIIHHSLSLQJKRWWRRLWLVDGYLVDEOHWROHWWKH¿OWHUKROGHUKHDWXSDIHZPLQXWHVLQLWVVHDWEHIRUH
PDNLQJWKHFRIIHH7KLVZLOOQRWEHQHFHVVDU\IRUWKHFXSVRIFRIIHHWKDWIROORZ
3ODFHRQHRUWZRFXSVXQGHUWKH¿OWHUKROGHUVSRXWV)LJDQGVWDUWGLVSHQVLQJE\WXUQLQJWKHNQRE/WRWKHFRIIHH
SRVLWLRQ
7KHFRIIHHZLOOVWDUWFRPLQJRXWRIWKHVSRXWVRIWKH¿OWHUKROGHU7RVWRSLWSXWWKHNQREEDFNLQWKHFHQWUDO
VWDQGE\SRVLWLRQ7KHPD[LPXPGRVHIRURQHFXSRIHVSUHVVRLVPO
:DUQLQJ
/LNHLQSURIHVVLRQDOFRIIHHPDFKLQHVGRQRWUHPRYHWKH¿OWHUKROGHUGXULQJGLVSHQVLQJGDQJHURIEXUQV
:DUQLQJ
:DLWDERXWWHQVHFRQGVDIWHUWKHFRIIHHKDVEHHQGLVSHQVHGEHIRUHUHPRYLQJWKH¿OWHUKROGHU7RUHPRYHLWWXUQLW
VORZO\IURPULJKWWROHIWVRDVWRSUHYHQWVSODVKHVRUVSXUWVRIZDWHURUFRIIHH
7RUHPRYHWKHFRIIHHUHVLGXHIURPWKH¿OWHUSUHVVWKH¿OWHUORFN3IRUZDUGRYHUWKHHGJHRIWKH¿OWHUWXUQWKH¿OWHUKROGHU
RYHUDQGVKDNHLWJHQWO\)LJ
:KHQWKHPDFKLQHLVLQVWDQGE\WKHODPS0ZLOOWXUQRQDQGRIISHULRGLFDOO\7KLVVKRZVWKDWWKHERLOHUWKHUPRVWDWLVWULS
SLQJZKLFKVHUYHVWRNHHSWKHZDWHUWHPSHUDWXUHRSWLPXP,WLVDJRRGLGHDWRVWDUWGLVSHQVLQJWKHFRIIHHRQO\ZKHQWKLV
LQGLFDWRUODPSLVRIIDQGWKLVLVWUXHIRUERWKWKH¿UVWFXSDQGWKRVHWKDWIROORZ
)LOOLQJWKHZDWHUWDQNGXULQJXVH
%HVXUHWR¿OOWKHWDQNEHIRUHWKHZDWHULVFRPSOHWHO\XVHGXS
7XUQRIIWKHPDFKLQHXQSOXJLWIURPWKHVRFNHWRXWOHWDQG¿OOWKHWDQNXSWRWKHOHYHOPDUNHG³0$;´ZLWKFRROWDSZDWHU3XW
WKHWDQNRQWKHPDFKLQHPDNLQJVXUHLWLVLQVHUWHGVHFXUHO\DQGWXUQLWEDFNRQ
,IWKHWDQNLVOHIWFRPSOHWHO\GU\DLUPD\HQWHUWKHFLUFXLWSUHYHQWLQJFRIIHHIURPEHLQJGLVSHQVHG,WLVWKHUHIRUHQHFHVVDU\
WRWXUQWKHPDFKLQHRIIDQGOHWLWFRROGRZQLQRUGHUWRSXWLWEDFNLQVHUYLFH3ODFHDFRQWDLQHUXQGHUQHDWKWKH¿OWHUKROGHU
FRXSOLQJVHDWDQGWXUQRQWKHPDFKLQHE\LPPHGLDWHO\WXUQLQJWKHNQRE/WRWKHSRVLWLRQ 0DNHDWOHDVWRQHFXSRI

(1
ZDWHUFRPHRXWRIWKH¿OWHUKROGHUFRXSOLQJVHDWWRSXWWKHK\GUDXOLFFLUFXLWEDFNLQVHUYLFH6WRSGLVSHQVLQJE\SXWWLQJWKH
NQRE/EDFNLQWKHFHQWUDO³67$1'%<´SRVLWLRQ$WWKLVSRLQWWKHPDFKLQHZLOOVWDUWWRZRUNUHJXODUO\DJDLQ
+2:720$.(&2))((:,7+$32'
3XWWKHSRG¿OWHU8LQVLGHWKH¿OWHUKROGHU4
 3ODFHWKHSRGLQWKH¿OWHUULQJ)LJ
 3XVKWKHSRGWRZDUGVWKHERWWRPRIWKH¿OWHUZLWK\RXU¿QJHUV)LJ
 7KHSRGPXVWEHZHOOFHQWUHGDQGSODFHGLQVLGHWKH¿OWHU
 1RZLWLVSRVVLEOHWRSXWWKH¿OWHUKROGHULQLWVVHDW7LJKWHQWKH¿OWHUKROGHUZKLOHPDNLQJVXUH\RXKDYHKRRNHGLWSURSHUO\
RQWRWKHÀDQJH)LJ
 7KHSRGFRXOGUHPDLQVWXFNLQWKHXSSHUSDUWRIWKHPDFKLQHDIWHUPDNLQJWKHFRIIHHDQGZKHQUHPRYLQJ¿OWHUKROGHU7R
UHPRYHLWWLOWWKH¿OWHUKROGHU)LJVRWKHSRGFDQIDOORQWRLW
,QRUGHUWRDOZD\VJHWDQH[FHOOHQWFXSRIFRIIHHEX\WKHSRGWKDWEHDUVWKH(6(FRPSDWLELOLW\PDUN
,IWKHSRGLVQRWLQVHUWHGZHOORULIWKHÀOWHUKROGHULVQRWWLJKWHQHGÀUPO\DIHZGURSVRIZDWHUFRXOGOHDNIURPWKH
ÀOWHUKROGHU
+2:720$.(&$338&&,12
:DLWIRUWKHLQGLFDWRUODPS0WRWXUQRII,WLQGLFDWHVWKDWWKHERLOHUKDVUHDFKHGWKHULJKWWHPSHUDWXUHIRUGLVSHQVLQJVWHDP
:DUQLQJ
:KHQZDUPLQJXS\RXUDSSOLDQFHPD\UHOHDVHVPDOOSXIIVRIVWHDPIURPWKH¿OWHUKROGHUWKLVLVSHUIHFWO\QRUPDO
7XUQWKHNQRE/WRWKHVWHDPGLVSHQVLQJSRVLWLRQ
DIWHUSODFLQJDJODVVXQGHUQHDWKWKHVWHDPSLSH.)LJ)LUVW
VRPHZDWHUZLOOFRPHRXWIROORZHGLPPHGLDWHO\E\DMHWRIVWHDPZKRVHLQWHQVLW\ZLOOLQFUHDVHZLWKLQDIHZVHFRQGV
3XWWKHNQRE/EDFNLQWKH³67$1'%<´SRVLWLRQDQGSODFHWKHSRWRIPLONWREHZKLSSHGXQGHUWKHIURWKDFFHVVRU\
3OXQJHWKHZDQGDOOWKHZD\LQWRWKHSRWRIPLON)LJDQGDJDLQWXUQWKHGLVSHQVLQJNQRE/SURJUHVVLYHO\RQWKHVWHDP
SRVLWLRQ XQWLO\RXJHWWKHUHVXOW\RXZDQW'XULQJWKHVHRSHUDWLRQV\RXPD\QRWLFHWKDWWKHZDUQLQJOLJKW0JRHVRQ
DQGRIIIURPWLPHWRWLPHLQGLFDWLQJWKDWWKHERLOHUWKHUPRVWDWLVNHHSLQJWKHZDWHUUHTXLUHGIRUWKHVWHDPVXSSO\DWWKHULJKW
WHPSHUDWXUH3XWWKHNQRE/EDFNRQ³67$1'%<´WRVWRSGLVSHQVLQJVWHDP
'LVSHQVHWKHVWHDPIRUDIHZVHFRQGVDIWHUHYHU\XVHWRIUHHWKHKROHRIDQ\PLONUHVLGXHDQGFOHDQWKHVWHDPSLSH
ZLWKDVSRQJH
86()8/7,36)252%7$,1,1*$*22',7$/,$1(635(662
7KHJURXQGFRIIHHLQWKH¿OWHUKROGHUKDVWREHSUHVVHGOLJKWO\:KHWKHUWKHFRIIHHLVVWURQJHURUZHDNHUGHSHQGVRQWKH
GHJUHHWKHFRIIHHLVJURXQGWKHTXDQWLW\SXWLQWRWKH¿OWHUKROGHUDQGWKHSUHVVLQJ-XVWDIHZVHFRQGVDUHQHHGHGIRUWKH
FRIIHHWRÀRZGRZQLQWRWKHFXSV,IWKHGLVSHQVLQJWLPHLVORQJHUWKLVPHDQVWKDWWKHFRIIHHLVJURXQGWRR¿QHRUWKDWWKH
FRIIHHSXWLQWRWKH¿OWHUKROGHUKDVEHHQSUHVVHGWRRPXFK
&/($1,1*7+($33/,$1&(
:DUQLQJ
$OOFOHDQLQJRSHUDWLRQVGHVFULEHGEHORZPXVWEHSHUIRUPHGZLWKWKHPDFKLQHRIIDQGZLWKWKHHOHFWULFSOXJGLVFRQ
QHFWHGIURPWKHVRFNHWRXWOHW
:DUQLQJ
5HJXODUPDLQWHQDQFHDQGFOHDQLQJSUHVHUYHDQGNHHSWKHPDFKLQHHI¿FLHQWIRUDORQJHUDPRXQWRIWLPH1HYHU
ZDVKPDFKLQHFRPSRQHQWVLQWKHGLVKZDVKHU'RQRWXVHGLUHFWMHWVRIZDWHU
:DUQLQJ
$OORSHUDWLRQVPXVWEHSHUIRUPHGZKHQWKHPDFKLQHLVFROG
&OHDQLQJWKHÀOWHUFRQWDLQLQJWKHJURXQGV
&KHFNWKDWWKHFRIIHHH[LWKROHLVQRWFORJJHGDQGLIVRFOHDQLWZLWKWKHSLQSURYLGHG)LJ
:DUQLQJ
+DQGOHWKHSLQSURYLGHGZLWKFDUHZKHQFOHDQLQJWKHDSSOLDQFHGDQJHURILQMXU\
'LVSHQVHERLOLQJZDWHUIURPWKH¿OWHUKROGHUZLWKWKH¿OWHULQVLGHZLWKRXWFRIIHHJURXQGVLQRUGHUWRGLVVROYHRUUHPRYH
DQ\FRIIHHUHVLGXHRULPSXULWLHV,WLVDGYLVDEOHWRWKRURXJKO\FOHDQWKH¿OWHU6RU7DERXWHYHU\PRQWKVXVLQJ$ULHWH
&2))((&/($1GHWHUJHQWWDEVZKLFKFDQEHIRXQGDWUHWDLOVWRUHVDQGWKH$XWKRULVHG6HUYLFH&HQWUHVIROORZLQJWKH
LQVWUXFWLRQVLQVLGHWKHSDFNDJH$VDQDOWHUQDWLYH\RXFDQXVHDVLPSOHGLVKZDVKHUGHWHUJHQWWDEZLWKRXWDGGHGULQVHDLG

(1
RURWKHUFKHPLFDODGGLWLYHVDVIROORZV
 3XWDGLVKZDVKHUGHWHUJHQWWDELQWRWKH¿OWHUZLWKRXWFRIIHHZKHQWKHPDFKLQHLVKRWDIWHUKHDWLQJIRUDWOHDVW¿YH
PLQXWHV
 &RXSOHWKH¿OWHUKROGHUWRWKHPDFKLQHDQGSXWDFRQWDLQHUXQGHUQHDWKWKH¿OWHUKROGHU
 7XUQWKHNQRE/WRWKHFRIIHHSRVLWLRQ WRVWDUWGLVSHQVLQJZDWHUDQGGLVSHQVHZDWHUIRUVHFRQGV
 6WRSWKHZDWHUVXSSO\DQGOHWWKHWDEDFWIRUDWOHDVWPLQXWHVZKLOHNHHSLQJWKH¿OWHUKROGHUFRXSOHGRQWKHPDFKLQH
 5HSHDWWKHZDWHUGLVSHQVLQJRSHUDWLRQE\RSHUDWLQJWKHSXPSIRUDERXWVHFRQGVDQGWKHQOHWWLQJLWUHVWIRUDQRWKHU
VHFRQGVXQWLOWZRWDQNVRIZDWHUDUHXVHGXS
 5HPRYHWKH¿OWHUKROGHUIURPWKHPDFKLQHUHPRYHWKH¿OWHUDQGULQVHLWZHOOXQGHUUXQQLQJWDSZDWHU
 7XUQRIIWKHPDFKLQHGLVFRQQHFWWKHSRZHUFDEOHIURPWKHVRFNHWRXWOHWDQGFOHDQWKHFRXSOLQJVHDWRIWKH¿OWHUKROGHU
ZLWKDVSRQJHLQRUGHUWRUHPRYHDQ\GHWHUJHQWUHVLGXHIURPWKHVKRZHUGLVF
 7XUQWKHPDFKLQHEDFNRQFRXSOHWKH¿OWHUKROGHURQFHDJDLQDQGGLVSHQVHDWOHDVWFXSVRIZDWHUDJDLQWRFRPSOHWH
WKHULQVLQJ
,IWKHFRIIHHPDFKLQHLVXVHGGDLO\LWLVDGYLVDEOHWRFDUU\RXWWKHFOHDQLQJRSHUDWLRQDWOHDVWHYHU\WKUHHPRQWKV
&OHDQLQJWKHÀOWHUKROGHUVHDW
:LWKWLPHFRIIHHUHVLGXHPD\DFFXPXODWHRQWKH¿OWHUKROGHUVHDW,WFDQEHUHPRYHGZLWKDWRRWKSLFNDVSRQJH)LJ
RUE\OHWWLQJZDWHUUXQWKURXJKZLWKRXW¿WWLQJWKH¿OWHUKROGHU)LJ
&OHDQLQJWKHVWHDPQR]]OH
:DUQLQJ
3HUIRUPWKLVRSHUDWLRQZKHQWKHFKURPHSODWHGSLSHLVFROGVRDVWRSUHYHQWEXUQV
5HPRYHWKHVWHDPSLSH.)LJDQGZDVKLWXQGHUUXQQLQJZDWHU7KHQR]]OHFDQEHFOHDQHGZLWKDQRQDEUDVLYHFORWK
6OLSWKHVWHDPSLSHRQDQGSXVKLWDVIDUDVLWZLOOJR,IQHFHVVDU\FOHDQWKHVWHDPH[LWKROHZLWKWKHSLQ:SURYLGHG)LJ
$IWHUXVHDOZD\VOHWWKHVWHDPQR]]OHUXQIRUDIHZVHFRQGVVRWRIUHHWKHRXWOHWIURPDQ\SRVVLEOHUHVLGXH
&OHDQLQJWKHWDQN
3HULRGLFDOO\FOHDQWKHLQVLGHRIWKHWDQNZLWKDVSRQJHRUGDPSFORWK
&OHDQLQJWKHJULOODQGGULSWUD\
5HPHPEHUWRHPSW\WKHGULSWUD\IURPWLPHWRWLPH,
5HPRYHWKHGULSWUD\,IURPWKHPDFKLQH)LJHPSW\LWDQGZDVKLWXQGHUUXQQLQJZDWHU:DVKWKHJULOO-XQGHU
UXQQLQJZDWHU
&OHDQLQJWKHPDFKLQHERG\
:DUQLQJ
&OHDQWKH¿[HGSDUWVRIWKHPDFKLQHXVLQJRQO\DGDPSQRQDEUDVLYHFORWKVRDVWRQRWGDPDJHWKHERG\
'(&$/&,),&$7,21
*RRGPDLQWHQDQFHDQGUHJXODUFOHDQLQJSUHVHUYHDQGNHHSWKHPDFKLQHHI¿FLHQWIRUDORQJHUDPRXQWRIWLPHFRQVLGHUDEO\
OLPLWLQJWKHULVNVRIOLPHGHSRVLWVIRUPLQJLQVLGHWKHDSSOLDQFH+RZHYHUVKRXOG\RXUFRIIHHPDFKLQHIDLOWRZRUNSURSHUO\
DVDUHVXOWRIWKHIUHTXHQWXVHRIKDUGKLJKFDOFLXPFRQWHQWZDWHU\RXPD\SHUIRUPDGHFDOFL¿FDWLRQSURFHGXUHWRUHVWRUH
LWVRSHUDWLRQDOHI¿FLHQF\)RUWKLVSXUSRVH\RXPXVWXVHRQO\$ULHWH¶V12&$/FLWULFDFLGEDVHGGHFDOFLI\LQJSURGXFWV7KLV
SURGXFWLVHDVLO\IRXQGDWWKH$ULHWHWHFKQLFDOVHUYLFHFHQWUHV$ULHWHGRHVQRWDVVXPHDQ\UHVSRQVLELOLW\ZKDWVRHYHUIRU
GDPDJHWRFRPSRQHQWVLQVLGHWKHFRIIHHPDFKLQHFDXVHGE\WKHXVHRIQRQFRPSOLDQWSURGXFWVFRQWDLQLQJFKHPLFDODGGL
WLYHV6KRXOG\RXQHHGWRGHFDOFLI\\RXUDSSOLDQFHSOHDVHIROORZWKHLQVWUXFWLRQVZKLFKFRPHZLWKWKHGHFDOFLI\LQJSURGXFW
3877,1*2872)6(59,&(
,I\RXZDQWWRSXWWKHPDFKLQHRXWRIVHUYLFH\RXPXVWGLVFRQQHFWLWHOHFWULFDOO\HPSW\WKHZDWHUWDQNDQGGULSWUD\DQGFOHDQ
LWVHHWKHSDUDJUDSKRQ³&OHDQLQJWKHDSSOLDQFH´
,QWKHFDVHRIVFUDSSLQJ\RXPXVWVHSDUDWHWKHYDULRXVPDWHULDOVXVHGLQPDNLQJWKHPDFKLQHDQGGLVSRVHRIWKHPEDVHG
RQWKHLUFRPSRVLWLRQDQGRQWKHOHJDOSURYLVLRQVLQIRUFHLQWKHFRXQWU\RIXVH

(1
7528%/(6+227,1*
,IWKHUHDUHSUREOHPVZLWKRSHUDWLRQLPPHGLDWHO\WXUQRIIWKHPDFKLQHDQGXQSOXJLWIURPWKHVRFNHWRXWOHW
352%/(0 &$86( 62/87,216
7KHFRIIHHPDNHU
GRHVQRWVXSSO\
VWHDP
7KHUHLVOLWWOHZDWHUDQGWKHSXPS
GRHVQRWVXFNLWXS
&KHFNWKDWWKHZDWHUOHYHOLQWKHWDQNLVFRUUHFW,IQHFHVVDU\
¿OOLWZLWKFRROWDSZDWHUXSWRWKHOHYHOPDUNHG³0$;´
6WHDPH[LWKROHLVFORJJHG 8QFORJDQ\GHSRVLWVWKDWPD\KDYHIRUPHGLQWKHKROHVRIWKH
IURWKDFFHVVRU\ZLWKWKHSLQSURYLGHG
&RIIHHRYHUÀRZLQJ
IURPWKHHGJHVRI
WKH¿OWHUULQJ
3UREDEO\DQH[FHVVDPRXQWRI
JURXQGFRIIHHKDVEHHQSODFHG
LQWKH¿OWHUULQJSUHYHQWLQJWKH
¿OWHUULQJIURPEHLQJFRUUHFWO\
WLJKWHQHGLQWRLWVKRXVLQJ
5HPRYHWKH¿OWHUKROGHUDQGFOHDQWKHFRXSOLQJVHDWZLWKD
VSRQJH)LJ5HSHDWWKHRSHUDWLRQSODFLQJWKHFRUUHFW
TXDQWLW\RIFRIIHHLQWKH¿OWHU
5HVLGXHVRIJURXQGFRIIHHKDYH
UHPDLQHGRQWKHJDVNHWRIWKH
¿OWHUKROGHUFRXSOLQJVHDW
&OHDQWKHVHDOZLWKDWRRWKSLFNRUDVSRQJH)LJ
7KHH[LWKROHRIWKH¿OWHUFRQWDL
QLQJFRIIHHJURXQGVLVFORJJHG
6ORZO\UHPRYHDQGGLVFRQQHFWWKH¿OWHUKROGHUEHFDXVHDQ\
UHPDLQLQJSUHVVXUHFRXOGFDXVHVSODVKHVRUVTXLUWV&OHDQ
WKHFORJJHG¿OWHUKROHXVLQJWKHSLQSURYLGHG&OHDQWKH
FORJJHG¿OWHUKROHZLWKDVPDOOEUXVKRUDSLQ&OHDQWKH¿OWHU
XVLQJ$ULHWH&2))((&/($1WDEVIROORZLQJWKHLQVWUXFWLRQV
SURYLGHGLQWKHSDFNDJH
)DXOW\SRG 6ORZO\UHPRYHDQGGLVFRQQHFWWKH¿OWHUKROGHUEHFDXVHDQ\
UHPDLQLQJSUHVVXUHFRXOGFDXVHVSODVKHVRUVTXLUWV&OHDQWKH
FRXSOLQJVHDWZLWKDVSRQJH)LJ5HSODFHWKHSRGLQWKH
¿OWHUKROGHU
7KHFRIIHHLVQRW
VXSSOLHGRUÀRZV
WRRVORZO\
7KHKROHVRIWKHSHUIRUDWHGGLVF
LQWKH¿OWHUKROGHUFRXSOLQJVHDW
DUHFORJJHG
7XUQRQWKHPDFKLQHZLWKRXWWKH¿OWHUKROGHUPDNLQJWKH
ZDWHUUXQ,IWKHZDWHUVWLOOGRHVQRWFRPHRXWIURPDOOWKH
KROHVHYHQO\FDUU\RXWWKHGHVFDOLQJFOHDQLQJRSHUDWLRQXVLQJ
WKH$ULHWH12&$/SURGXFWIRXQGDW$ULHWHVHUYLFHFHQWUHV
IROORZLQJWKHLQVWUXFWLRQVSURYLGHGLQWKHSDFNDJH
7KHH[LWKROHRIWKH¿OWHUFRQWDL
QLQJFRIIHHJURXQGVLVFORJJHG
6ORZO\UHPRYHDQGGLVFRQQHFWWKH¿OWHUKROGHUEHFDXVHDQ\
UHPDLQLQJSUHVVXUHFRXOGFDXVHVSODVKHVRUVTXLUWV&OHDQ
WKHFORJJHG¿OWHUKROHXVLQJWKHSLQSURYLGHG&OHDQWKH¿OWHU
XVLQJ$ULHWH&2))((&/($1WDEVIROORZLQJWKHLQVWUXFWLRQV
SURYLGHGLQWKHSDFNDJH
7KHFRIIHHEOHQGLVJURXQGWRR
¿QH
7U\XVLQJFRDUVHUFRIIHHEOHQGV
7KHFRIIHHEOHQGLVSUHVVHG
GRZQWRRPXFK
7DPSHUFRIIHHLQVLGHWKH¿OWHUXVLQJOHVVSUHVVXUH
7KHWDQNVLVQRWLQVHUWHGZHOO )LWWKHWDQNVHFXUHO\E\SXVKLQJLWDVIDUDVLWZLOOJR
7KHUHLVOLWWOHZDWHUDQGWKHSXPS
GRHVQRWVXFNLWXS
0DNHVXUHWKHWDQNLVSURSHUO\LQVHUWHGDQGFKHFNWKDWWKH
ZDWHUOHYHOLQWKHWDQNLVFRUUHFW
)LOOZLWKFRROWDSZDWHUXSWRWKHOHYHOPDUNHG³0$;´
)DXOW\SRG 6ORZO\UHPRYHDQGGLVFRQQHFWWKH¿OWHUKROGHUEHFDXVHDQ\
UHPDLQLQJSUHVVXUHFRXOGFDXVHVSODVKHVRUVTXLUWV&OHDQWKH
FRXSOLQJVHDWZLWKDVSRQJH)LJ5HSODFHWKHSRGLQWKH
¿OWHUKROGHU
%URNHQSRG 6ORZO\UHPRYHDQGGLVFRQQHFWWKH¿OWHUKROGHUEHFDXVHDQ\
UHPDLQLQJSUHVVXUHFRXOGFDXVHVSODVKHVRUVTXLUWV&OHDQWKH
FRXSOLQJVHDWZLWKDVSRQJH)LJ5HSODFHWKHSRGLQWKH
¿OWHUKROGHU
7KHFRIIHHLVWRR
ZDWHU\DQGFROG
7KHEOHQGKDVEHHQJURXQGWRR
FRDUVHO\
$PRUH¿QHO\JURXQGEOHQGPXVWEHXVHGWRREWDLQDPRUH
FRQFHQWUDWHGDQGKRWWHUFRIIHH

)5
$352326'80$18(/
0rPHVLOHVDSSDUHLOVRQWpWpUpDOLVpVHQFRQIRUPLWpDYHFOHV1RUPHVHXURSpHQQHVVSpFL¿TXHVHQYLJXHXUHWTXHWRXWHV
OHVSLqFHVSRWHQWLHOOHPHQWGDQJHUHXVHVVRQWSURWpJpHVOLVH]DYHFDWWHQWLRQFHVDYHUWLVVHPHQWVHWQ¶XWLOLVHUO¶DSSDUHLOTXH
SRXUFHTXHLODpWpFRQoXD¿QG¶pYLWHUOHVEOHVVXUHVHWOHVGRPPDJHV*DUGHUFHOLYUHWjSRUWpGHPDLQSRXUOHVIXWXUHV
FRQVXOWDWLRQV6LYRXVGHVLUH]HQVXLWHFpGHUFHWDSSDUHLOjG¶DXWUHVSHUVRQQHVUDSSHOH]YRXVG¶LQFOXUHFHVLQVWUUXFWLRQV
/HVLQIRUPDWLRQVUHSRUWpHVGDQVFHPDQXHOVRQWPDUTXpHVGHVV\PEROHVVXLYDQWVTXLLQGLTXHQW
'DQJHUSRXUOHVHQIDQWV
$YHUWLVVHPHQWVVXUOHVEUOXUHV
'DQJHUpOHFWULTXH $WWHQWLRQGpJDWVPDWpULHOV
'DQJHUVSURYHQDQWG¶DXWUHVFDXVHV
87,/,6$7,2135e98(
9RXVSRXUUH]XWLOLVHUYRWUH&DIIq0LQXHWWRSRXUSUpSDUHUGHVFDIpVHWGHVFDSSXFFLQR/¶DSSDUHLOHVWGHVWLQpVHXOHPHQWj
XQHXWLOLVDWLRQGRPHVWLTXHHWQHGRLWHQDXFXQFDVrWUHVHUYLUjGHV¿QVFRPPHUFLDOHVRXLQGXVWULHOOHV/HFRQVWUXFWHXUQ¶D
SUpYXDXFXQDXWUHXVDJHGHO¶DSSDUHLOHWLOVHGpJDJHGHWRXWHUHVSRQVDELOLWpSRXUOHVGpJDWVGHWRXWHQDWXUHJpQpUpVG¶XQH
XWLOLVDWLRQLQDSSURSULp8QXVDJHLQDSSURSULpGpWHUPLQHUDLWpJDOHPHQWO¶DQQXODWLRQGHWRXWHIRUPHGHJDUDQWLH
5,648(65e6,'8(/6
/HVFDUDFWpULVWLTXHVGHFRQVWUXFWLRQGHO¶DSSDUHLOTXLVRQWO¶REMHWGHFHWWHSXEOLFDWLRQQHSHUPHWWHQWSDVGHSURWpJHUO¶XWLOOL
VDWHXUGXMHWGLUHFWGHYDSHXURXG¶HDXFKDXGH
$WWHQWLRQ
'DQJHUGHEUOXUH±3HQGDQWO¶pFRXOHPHQWGHO¶HDXFKDXGHHWGHODYDSHXUQHSDVGLULJHUOHMHWYHUVXQWLHUVRXYHUV
VRL1¶HPSRLJQHUOHWX\DXTXHVXUODSDUWLHHQSODVWLTXH
8WLOLVHUH[FOXVLYHPHQWGHVFRQWHQHXUVHQPDWpULDX³SRXUDOLPHQWV´
5(0$548(6,03257$17(6
/,5($77(17,9(0(17/(6,16758&7,216$9$17/·87,/,6$7,21
/¶DSSDUHLOHVWGHVWLQpVHXOHPHQWjXQHXWLOLVDWLRQGRPHVWLTXHHWQHGRLWHQDXFXQ
FDVrWUHVHUYLUjGHV¿QVFRPPHUFLDOHVRXLQGXVWULHOOHV
/HFRQVWUXFWHXUGpFOLQHWRXWHUHVSRQVDELOLWpSRXUXQHXWLOLVDWLRQHUURQpHRXSRXU
GHVHPSORLVDXWUHVTXHFHX[SUpYXVSDUFHOLYUHW
,OHVWFRQVHLOOpGHFRQVHUYHUO¶HPEDOODJHG¶RULJLQHYXTXHO¶DVVLVWDQFHJUDWXLWHQH
MRXHSDVSRXUOHVGRPPDJHVFDXVpVSDUXQHPEDOODJHGXSURGXLWQRQDGpTXDW
ORUVGHO¶H[SpGLWLRQjXQVHUYLFHDSUqVYHQWHDJUpp
&HW DSSDUHLO HVW FRQIRUPH j OD GLUHFWLYH &( HW j OD GLUHFWLYH (0&
&((
'DQJHUSRXUOHVHQIDQWV
&HWDSSDUHLOQHSHXWrWUHXWLOLVpSDUOHVHQIDQWVGHSOXVGHDQVHWSDUOHVSHU
VRQQHVD\DQWGHVFDSDFLWpVSK\VLTXHVVHQVRULHOOHVRXPHQWDOHVUpGXLWHVRX
ELHQTXLPDQTXHQWG¶H[SpULHQFHHWGHFRQQDLVVDQFHVjFRQGLWLRQG¶rWUHDFFRP
SDJQpVSDUXQDGXOWHUHVSRQVDEOHRXG¶DYRLUUHoXHWFRPSULVOHVLQVWUXFWLRQVHW
OHVGDQJHUVGpFRXODQWGHO¶XVDJHGHO¶DSSDUHLO
/HVHQIDQWVQHGRLYHQWSDVMRXHUDYHFO¶DSSDUHLO
/HVRSpUDWLRQVGHQHWWR\DJHHWG¶HQWUHWLHQGpFULWHVGDQVFHWWHQRWLFHQHGRLYHQW

)5
SDVrWUHH[pFXWpHVSDUOHVHQIDQWVVDQVODVXSHUYLVLRQG¶XQDGXOWH

/HVpOpPHQWVGHO¶HPEDOODJHQHGRLYHQWSDVrWUHODLVVpVjODSRUWpHGHVHQIDQWV
FDULOVUHSUpVHQWHQWXQHVRXUFHGHGDQJHU
/RUVTX¶RQGpFLGHUDGHMHWHUFHWDSSDUHLOLOHVWUHFRPPDQGpGHOHPHWWUHKRUV
G¶XVDJHHQFRXSDQWOHFkEOHG¶DOLPHQWDWLRQ,OHVWpJDOHPHQWUHFRPPDQGpGH
SURWpJHUOHVSDUWLHVVXVFHSWLEOHVGHFRQVWLWXHUXQGDQJHUVSpFLDOHPHQWSRXUOHV
HQIDQWVTXLSRXUUDLHQWVHVHUYLUGHO¶DSSDUHLOSRXUMRXHU
1HSDVODLVVHUO¶pSLQJOHGHQHWWR\DJHjODSRUWpHGHVHQIDQWVHWODUDQJHUHQOLHX
VUULVTXHGHO¶DYDOHUHWGHVHEOHVVHU
'DQJHUpOHFWULTXH
1HSDVODLVVHUOHFRUGRQG¶DOLPHQWDWLRQjODSRUWpHGHVHQIDQWVD\DQWPRLQVGHDQV
$YDQWGHEUDQFKHUO¶DSSDUHLODXUpVHDXG¶DOLPHQWDWLRQFRQWU{OHUTXHODWHQVLRQ
LQGLTXpHVXUODSODTXHWWHSODFpHVRXVODPDFKLQHFRUUHVSRQGHELHQjFHOOHGX
UpVHDXORFDO
/¶XWLOLVDWLRQGHUDOORQJHVpOHFWULTXHVQRQDXWRULVpHVSDUOHIDEULFDQWGHO¶DSSDUHLO
SHXWFDXVHUGHVGRPPDJHVHWSURYRTXHUpJDOHPHQWGHVDFFLGHQWV
$YDQWG¶HIIHFWXHUO¶RSpUDWLRQGHUHPSOLVVDJHGXUpVHUYRLUG¶HDXGpEUDQFKHUO¶DS
SDUHLOGHODSULVHGHFRXUDQW
/HFRUGRQG¶DOLPHQWDWLRQHQGRPPDJpGRLWrWUHUHPSODFpSDUOHFRQVWUXFWHXURX
SDUVRQVHUYLFH$SUqVYHQWHRXGDQVWRXVOHVFDVSDUXQHSHUVRQQHD\DQWXQH
TXDOL¿FDWLRQpTXLYDOHQWHGHPDQLqUHjpYLWHUWRXVOHVULVTXHV
1HMDPDLVPHWWUHOHVSDUWLHVVRXVWHQVLRQHQFRQWDFWDYHFO¶HDXFHODSRXUUDLW
HQJHQGUHUXQFRXUWFLUFXLW
'pEUDQFKHUODSULVHGHFRXUDQWDYDQWFKDTXHLQWHUYHQWLRQGHQHWWR\DJHRXG¶HQWUHWLHQ
1HWUHPSH]SDVO¶DSSDUHLOGDQVO¶HDXQLGDQVWRXWDXWUHOLTXLGH
7RXMRXUVpWHLQGUHO¶DSSDUHLOHWGpEUDQFKHUODSULVHGXFRUGRQG¶DOLPHQWDWLRQpOHF
WULTXHDYDQWGHUHPSOLUOHUpVHUYRLUG¶HDX
'DQJHUVSURYHQDQWG·DXWUHVFDXVHV
1HSDVVRXOHYHUO¶DSSDUHLOHQOHSUHQDQWSDUOHUpVHUYRLUG¶HDXRXSDUODFXYHWWH
PDLVHQOHSUHQDQWSDUOHFRUSV
&KRLVLUXQHQGURLWDVVH]pFODLUpSURSUHHWDYHFXQHSULVHGHFRXUDQWIDFLOHPHQW
DFFHVVLEOH
(YLWHUGHYHUVHUGDQVOHUpVHUYRLUXQHTXDQWLWpH[FHVVLYHG¶HDX
1HODLVVH]SDVO¶DSSDUHLOVDQVVXUYHLOODQFHORUVTX¶LOHVWEUDQFKp
/¶DSSDUHLOGRLWrWUHXWLOLVpHWODLVVpDXUHSRVVXUXQHVXUIDFHVWDEOH
/¶DSSDUHLOQHGRLWSDVrWUHXWLOLVpVLLOHVWWRPEpV¶LOSUpVHQWHGHVVLJQHVYLVLEOHV
GHGpWpULRUDWLRQRXV¶LOSHUGGHO¶HDX1HSDVXWLOLVHUO¶DSSDUHLOVLOHFkEOHpOHF
WULTXHRXOD¿FKHVRQWHQGRPPDJpVRXVLO¶DSSDUHLOHVWGpIHFWXHX[7RXWHVOHV
UpSDUDWLRQV\FRPSULVOHUHPSODFHPHQWGXFRUGRQG¶DOLPHQWDWLRQGRLYHQWH[FOX
VLYHPHQWrWUHHIIHFWXpHVGDQVXQFHQWUHVG¶DVVLVWDQFHDSUqVYHQWH$ULHWHRXSDU

)5
GHVWHFKQLFLHQVDJUppV$ULHWHGHIDoRQjSUpYHQLUOHVULVTXHVpYHQWXHOV
$YHUWLVVHPHQWVVXUOHVEUOXUHV
1HMDPDLVGLULJHUOHMHWGHYDSHXURXG¶HDXFKDXGHYHUVOHVSDUWLHVGXFRUSV
PDQLSXOHUDYHFSUpFDXWLRQOHWXEHYDSHXULO\DULVTXHGHEUOXUHV
1HSDVWRXFKHUOHVSDUWLHVPpWDOOLTXHVH[WpULHXUHVGHO¶DSSDUHLOHWGXSRUWH¿OWUH
ORUVTXHO¶DSSDUHLOHVWHQPDUFKHFDURQSRXUUDLWVHEUOHU
6LO¶HDXQHVRUWSDVSDUOHSRUWH¿OWUHFHODSRXUUDLWrWUHSDUFHTXHOH¿OWUH7KHU
PRFUHDPHVWERXFKp'DQVFHFDVLOIDXWGpERvWHUHWUHWLUHUOHQWHPHQWOHSRUWH
¿OWUHFDUODSUHVVLRQUHVWDQWHSRXUUDLWSURYRTXHUGHVpFODERXVVXUHVRXGHVMHWV
1HWWR\HUGRQFFRPPHLQGLTXpGDQVOHSDUDJUDSKHFRUUHVSRQGDQW
$WWHQWLRQGpJkWVPDWpULHOV
3ODFHUODPDFKLQHVXUXQSODQVWDEOHRLOQ¶\DSDVULVTXHGHODUHQYHUVHU
1HSDVXWLOLVHUODPDFKLQHVDQVHDXSRXUQHSDVJULOOHUODSRPSH
1HMDPDLVUHPSOLUOHUpVHUYRLUG¶HDXjO¶HDXFKDXGHRXERXLOODQWH
1H SDV SRVLWLRQQHU OD PDFKLQH VXU GHV VXSHU¿FLHV WUqV FKDXGHV RX SUqV GH
ÀDPPHVOLEUHVSRXUpYLWHUDLQVLTXHODFDUURVVHULHSXLVVHrWUHHQGRPPDJpH
/HFRUGRQQHGRLWSDVWRXFKHUOHVSDUWLHVFKDXGHVGHODPDFKLQH
1HSDVXWLOLVHUG¶HDXJD]HXVHDYHFDMRXWG¶DQK\GULGHFDUERQLTXH
1HMDPDLVLQWURGXLUHG¶DXWUHVVXEVWDQFHVTXHOHFDIpHQSRXGUHGDQVOHSRUWH
¿OWUH&HODSRXUUDLWHQGRPPDJHUJUDYHPHQWO¶DSSDUHLO
1HSDVVWRFNHUODPDFKLQHjXQHWHPSpUDWXUHLQIpULHXUHj&FDUO¶HDXUHVWDQWH
GDQVODFKDXGLqUHSRXUUDLWJHOHUHWSURYRTXHUGHVGpJkWV
1HSDVXWLOLVHUO¶DSSDUHLOHQSOHLQDLU
1HSDVODLVVHUO¶DSSDUHLOH[SRVpDX[DJHQWVDWPRVSKpULTXHVSOXLHVROHLOHFW
$SUqVDYRLUGpEUDQFKpODSULVHG¶DOLPHQWDWLRQHWORUVTXHOHVSDUWLHVFKDXGHVRQW
UHIURLGLO¶DSSDUHLOGRLWrWUHQHWWR\pH[FOXVLYHPHQWDYHFXQOLQJHQRQDEUDVLIj
SHLQHKXPLGHHWVHXOHPHQWTXHOTXHVJRXWWHVGHGpWHUJHQWVQHXWUHVQRQDJUHV
VLIVQHSDVXWLOLVHUGHVROYDQWVTXLGpWpULRUHQWOHSODVWLTXH
728-2856&216(59(5&(6,16758&7,216
  • Page 1 1
  • Page 2 2
  • Page 3 3
  • Page 4 4
  • Page 5 5
  • Page 6 6
  • Page 7 7
  • Page 8 8
  • Page 9 9
  • Page 10 10
  • Page 11 11
  • Page 12 12
  • Page 13 13
  • Page 14 14
  • Page 15 15
  • Page 16 16
  • Page 17 17
  • Page 18 18
  • Page 19 19
  • Page 20 20
  • Page 21 21
  • Page 22 22
  • Page 23 23
  • Page 24 24
  • Page 25 25
  • Page 26 26
  • Page 27 27
  • Page 28 28
  • Page 29 29
  • Page 30 30
  • Page 31 31
  • Page 32 32
  • Page 33 33
  • Page 34 34
  • Page 35 35
  • Page 36 36
  • Page 37 37
  • Page 38 38
  • Page 39 39
  • Page 40 40
  • Page 41 41
  • Page 42 42
  • Page 43 43
  • Page 44 44
  • Page 45 45
  • Page 46 46
  • Page 47 47
  • Page 48 48
  • Page 49 49
  • Page 50 50
  • Page 51 51
  • Page 52 52
  • Page 53 53
  • Page 54 54
  • Page 55 55
  • Page 56 56
  • Page 57 57
  • Page 58 58
  • Page 59 59
  • Page 60 60
  • Page 61 61
  • Page 62 62
  • Page 63 63
  • Page 64 64
  • Page 65 65
  • Page 66 66
  • Page 67 67
  • Page 68 68
  • Page 69 69
  • Page 70 70
  • Page 71 71
  • Page 72 72
  • Page 73 73
  • Page 74 74
  • Page 75 75
  • Page 76 76
  • Page 77 77
  • Page 78 78
  • Page 79 79
  • Page 80 80
  • Page 81 81
  • Page 82 82

ARIETE 1334 Minuetto Benutzerhandbuch

Typ
Benutzerhandbuch