Ahkam Al-Amwat - Complete

7/27/2019 Ahkam Al-Amwat - Complete

1/198

7ZQJX7JQFYNSLYTYMJ)JHJFXJI

$JODQFHLQWRWKHOLIHRIWKH

*UDQG0DUMDm7DTOzGRIWKH6KzmD:RUOG

\DWXOOyKDOm8PyDOyMMDV6D\\LGm$OzDOXVD\QzDV6HHVWyQz

HYkkiYm

I

7KH3URSKHWRI,VOyP3HDFHEHXSRQKLPDQGKLVIDPLO\VDLG

o2QH 6FKRODU LV PRUH SRZHUIXO DJDLQVW WKH 'HYLO WKDQ RQHWKRXVDQGZRUVKLSSHUVp

25 025( 7+$1 +$/) $ &(1785


2/198


3/198


DOVR VWXGLHG MXULVSUXGHQFH )LTK SULQFLSOHV RI MXULVSUXGHQFHVXO ORJLF 0DQLT DQGEHOLHIV$TyLGXQGHUWKHJUHDWm8ODPyDQG WHDFKHUV RI .KXUDVyQ ,W ZDV LQWKLVFLW\WKDWKHWRRNSDUWLQ'DUVH.KyULM WKH KLJKHVW OHYHO RI VWXGLHVLQWKHDZ]D$WWKLVWLPH KH DOVR EHQHILWHG IURP WKH SUHVHQFH RI$OOyPDK0X~DTTLT0zU]y0DKGz,VIDKyQz0D\$OOyKVDQFWLI\KLVVSLULW

,Q RUGHU WRDGYDQFHIXUWKHUDQGFRPSOHWHKLVVWXGLHVKHWUDYHOHGWRWKH FLW\ RI 4XP LQ $+ VR DVWREHQHILWIURPWKH

m8ODPy RI WKH JUDQG DZ]DLQWKLVFLW\ 7KHDZ]Dm,OPL\\DKRI4XPZDVDWWKDWWLPHXQGHUWKHVXSHUYLVLRQDQGJXLGDQFHRIWKHVROH0DUMDmRIWKH6KzmDZRUOGQDPHO\\DWXOOyKDOm8PyDV6D\\LGDO+yMMXVD\Q%XU{MHUGz0D\$OOyKUDLVHKLVUDQN

\DWXOOyK 6HHVWDQzZKRZDVSUHVHQWLQWKHOHVVRQVRI)LTKDQG8V{OZKLFK DW WKDW WLPH ZHUHEHLQJWDXJKWE\\DWXOOyK%XU{MHUGzZDVTXLFNO\ UHFRJQL]HG DV WKH EULJKWHVW VWXGHQW LQ WKHILHOGVRI)LTK

8V{O DQG 5LMyO +H DOVR WRRNSDUWLQWKHFODVVHVRI\DWXOOyKDO8Py XMMDW.{KNXPUyzDQGRWKHUWHDFKHUVDQGVFKRODUVLQRUGHUWRTXHQFKKLVWKLUVWIRUNQRZOHGJH

$V6D\\LG DV6HHVWyQz H[FHOOHG KLV SHHUV HVSHFLDOO\LQWKHIRUFHIXOOQHVV RIKLVLQWHUMHFWLRQVKLVTXLFNZLWUHVHDUFKLQMXULVSUXGHQFHELRJUDSKLHV RI WKH WUDQVPLWWHUV RID~yGLWKDQGKLVNHHSLQJDEUHDVW

ZLWKPDQ\WKHRULHVLQGLIIHUHQWILHOGVRIWKHWKHRORJLFDOVFLHQFHV

,QWKH\HDU$+\DWXOOyK6HHVWyQzRQFHDJDLQPRYHGWKLV WLPH WR 1DMDIDO$VKUDI$WWKDWWLPHWKHDZ]DRI1DMDIZDVEORRPLQJ DQG ZDV IXOO RI VSOHQGRUDQGJORU\+HWRRNSDUWLQWKHFODVVHV WKDW ZHUH EHLQJ RIIHUHG DQG OHDUQW WKH YDULRXV ,VOyPLFVFLHQFHVIURPWKHPRVWZHOONQRZQm8ODPyRIWKDWWLPH

)RU PRUH WKDQ\HDUVKHWRRNSDUWLQWKHOHVVRQVRI\DWXOOyKDO8Py DOyMM DV6D\\LG $E{ DO4yVLP DO0{VDZzDO.K{nz0D\$OOyK EH SOHDVHG ZLWK KLP $W WKLV WLPH KH DOVRDWWHQGHGWKHOHVVRQV WDXJKW E\ \DWXOOyKDOm8PyDV6D\\LG0R~VLQDODNzP

Presented By: www.ShianeAli.com


4/198

.SYWTIZHYNTS

0D\ $OOyK VDQFWLI\ KLV VSLULW +H DOVR ILQLVKHG RQH FRPSOHWHFRXUVH LQ8V{ODO)LTKXQGHUWKHDXVSLFHVRI\DWXOOyKDOm8PyDO6KD\NKXVD\QLOOL0D\$OOyKEHSOHDVHGZLWKKLP

,Q WKH\HDU$+LQUHFRJQLWLRQRIKLVDFKLHYHPHQWVKHZDV DZDUGHGWKHGLVWLQFWLRQFHUWLI\LQJWKDWKHKDGDWWDLQHGWKHOHYHORI ,MWLKyG GHGXFWLRQ RI OHJDOMXGJPHQWLQPDWWHUVRIUHOLJLRQE\,PyPDO.K{nzDQGDJDLQE\DO6KD\NKDO+LOOz

,Q WKH VDPH\HDUKHZDVDZDUGHGFHUWLILFDWLRQE\WKHGLVWLQJXLVKHGWUDGLWLRQDOLVW DQG VFKRODU DO6KD\NK JKy %X]XUJ DOHKUyQzWHVWLI\LQJ WRKLVVNLOOLQWKHVFLHQFHRIn,OPDO5LMyORUUHVHDUFKLQWRWKH ELRJUDSKLHV RIWKHQDUUDWRUVRID~yGLWK+HDFKLHYHGWKLVJUDQGVWDWXVZKHQKHZDVDPHUH \HDUVRIDJH

,QWKH\HDU$+DIWHU\HDUVRIVWXGLHVDQGSDUWLFLSDWLQJLQ WKH OHVVRQV RI8V{O)LTKDQG0DQLTLQWKHDZ]DVRI0DVKDG

4XP DQG 1DMDI KH VWDUWHG WR WHDFK KLV RZQ OHVVRQV LQ'DUVH.KyULM UHYROYLQJ DURXQG WKH ERRN DO0DNyVLEE\6KD\NK$QVyUL0D\ $OOyK EH SOHDVHG ZLWK KLP $IWHUWHDFKLQJ'DUVH.KyULMEDVHG RQWKHIUDPHZRUNIRXQGLQDO0DNyVLEIRU\HDUVKHDGYDQFHGKLV OHVVRQV RQWR D KLJKHUOHYHOE\WHDFKLQJIURPWKHERRN8UZDWXO:XWKTy

+LV&RPSDULVRQ%HWZHHQWKH9DULRXV6FKRROVRI7KRXJKW,Q RUGHU WRSXWIRUZDUGDVRXQGVWXG\IRUDQ\VXEMHFWDV6D\\LGDV6HHVWyQz FRPSDUHV KLV ILQGLQJV ZLWK WKRVH RIDO0zU]y0DKGzDO,VIDKyQz UHSUHVHQWLQJWKH0DVKKDGVFKRRORIWKRXJKWDV6D\\LGDO%XU{MHUGz RI 4XP DQG RI DV6D\\LG DO.K{nz DQG DO6KD\NKXVVDzQDO+LOOzUHSUHVHQWLQJ1DMDI

+LV-XULVWLF0HWKRGRORJ\

+LV MXULVWLF PHWKRGRORJ\ KDV WKH IROORZLQJGLVWLQFWFKDUDFWHULVWLF&RPSDUDWLYH -XULVSUXGHQFH EHWZHHQ 6KzmD DQG 6XQQz



5/198


)DPLOLDUL]LQJ RQHVHOIZLWKWKH6XQQzMXULVWLFWKRXJKWFRQWHPSRUDU\WR WKH WLPH RIWKHWH[WVXFKDV,PyP0yOLNVoDO0XZDWWypRU$E{


6/198

.SYWTIZHYNTS

IDPLO\DW.KD\EDUIRUELGGLQJWKHHDWLQJRIGRQNH\PHDW$V6D\\LGDV6HHVWyQznV LQWHUSUHWDWLRQ ZDV WKDW VXFK ZDV SURKLELWLRQ LVFRQILQHG WR WKDW SDUWLFXODU LQFLGHQW DW WKDW SRLQW LQ WLPH 7KHHYLGHQFH KHSXWVIRUZDUGLVWKDWWKH3URSKHWnVIRUELGGLQJZDVGXHWRD PLOLWDU\ UHTXLUHPHQW LQ WKDW WKH GRQNH\ ZDV D PHDQV RI WUDQVSRUWDWLRQ DQG SURWHFWLQJ LW ZDV QHHGHGWRVHUYHWKDWSXUSRVH+HQFH QRH[WUDSRODWLRQVKRXOGEHPDGHIURPLWDWDODWHUWLPHVLQFHFLUFXPVWDQFHVKDYHFKDQJHG

+LV([SHUWLVHLQWKH7RROVRI'HGXFWLRQ

7KLV JUHDW 0DUMDn LV RIWKHRSLQLRQWKDWDMXULVWFDQQRWEHFDOOHGDVVXFK XQWLO KHKDVDFTXLUHGDOOWKHQHFHVVDU\TXDOLILFDWLRQVWRHQDEOHKLP WR EH RQH$PRQJVXFKYHKLFOHVLVWKHPDVWHU\RI$UDELFIXOONQRZOHGJH RI WKH WUDGLWLRQVRIWKH3URSKHWDQGKLV3URJHQ\3HDFHEH XSRQDOORIWKHPDQGGHWDLOHGDFFRXQWVRIWKHLUQDUUDWRUVIRUWKHVFLHQFH RI m,OP DO5LMyO ELRJUDSKLHVRIWUDQVPLWWHUVRI~DGzWKLVD

SUHUHTXLVLWHIRUWKHMXULVWWRDFKLHYHDXWKHQWLFLW\

,Q WKLV UHVSHFW KHKROGVPDQ\RSLQLRQVZKLFKPD\JRDJDLQVWZKDWLV XQLYHUVDOO\KHOG+HDOVRVWUHVVHVWKHLPSRUWDQFHRIIDPLOLDUL]LQJRQHVHOI ZLWK WKHGLIIHUHQWFRPSLODWLRQVRI~DGzWKDQGWKHLUGLIIHUHQWFRSLHV WR HQVXUH NQRZOHGJH DERXW WKH DXWKRU DV UHJDUGV WR WKHDFFXUDF\DXWKHQWLFLW\DQGWKHPDQQHURIFRPSLOLQJ

+LV&KDUDFWHU

7KRVH ZKR FRPHLQWRFORVHFRQWDFWZLWKDV6D\\LGDV6HHVWyQzZLOOGLVFRYHU WKDW KH LV HQGRZHGZLWKLGHDOVSLULWXDOWUDLWV2IWKHVHDUHWKHIROORZLQJ

)DLUQHVVDQGUHVSHFWIRUWKHRWKHURSLQLRQ %DVHGRQKLVORYHIRU

VFLHQFH DQG NQRZOHGJH LQWHUHVW LQ DUULYLQJ DW WKH WUXWK DQGXSKROGLQJ IUHHGRP RI H[SUHVVLRQ DQGWKHFRQVWUXFWLYHZRUGKHLVFRQVWDQWO\ UHDGLQJ LQ RUGHU WR DFTXDLQW KLPVHOIZLWKWKHGLIIHUHQWRSLQLRQV ZKHWKHU WKH\ DUH H[SUHVVHGE\ZHOONQRZQVFKRODUVRU



7/198


OHVV NQRZQ RQHV 7KXVKHPD\TXRWHDQRSLQLRQH[SUHVVHGE\DO6KD\NK 0X~DPPDG5L|yDO0X|KDIIDULQKLVERRNo8V{ODO)LTKp)XQGDPHQWDOV RI -XULVSUXGHQFH DQG E\ WKH VDPHWRNHQKHPD\WDNH WKH OLEHUW\ RI DOOXGLQJ WR DQRWKHURSLQLRQZKLFKKHDGPLUHVWKRXJK LW PD\ EHORQJ WR D SHHU ULYDO IULHQG RU D OHVVIDPRXVVFKRODU

(WLTXHWWH RI GHEDWH +LV PDQQHU RI FRQGXFWLQJ D GHEDWH RUGLVFXVVLRQ LV D IDU FU\ IURP WKH KHDWHG DLPOHVV WLPH ZDVWLQJ

DUJXPHQWV WKDW RWKHUV LQGXOJH LQ +H QHYHU UHVRUWV WRVLOHQFLQJRWKHUV LQWHUUXSWLQJ WKHP RU EHOLWWOLQJ WKHLU FRQWULEXWLRQ WR WKHVXEMHFW WKDW LV WR EH GLVFXVVHG 1RPDWWHUZKRWKHRWKHUVLGHLVWHDFKHU RU VWXGHQW q DQG KH DOZD\V XVHVSROLWHZRUGVWRDGGUHVVWKHP 7KXV KH DGRSWV DQ DSSURSULDWH DSSURDFKLQKDQGOLQJDQ\FDWHJRU\ ZLWKRXW RYHUVWHSSLQJ WKH OLQH RI FRXUWHV\ DQG JRRGPDQQHUV LQ RUGHU WR SUHVHUYH WKH LQWHJULW\ DQG UHVSHFW RI WKRVHLQYROYHG

0DQQHUVRIWKH7HDFKHU7HDFKLQJLVQRWVLPSO\DSDLGSURIHVVLRQ LI LW LV QRW FRXSOHG ZLWKWKHFRQFHUQIRUWKHDGYDQFHPHQWRIWKHVWXGHQW DQG VKRZLQJ ORYH DQGDIIHFWLRQIRUKLPWKHQWKHWHDFKLQJSURFHVV ZLOOEHGHYRLGRILWVQREOHDLPVDQGREMHFWLYHVLQSURGXFLQJD FRPPLWWHG ZHOOPDQQHUHG JHQHUDWLRQ IXOO\ DZDUH RI WKHLUUHVSRQVLELOLWLHV WRZDUGV WKHPVHOYHV DQGWKHVRFLHW\LQJHQHUDO$V

6D\\LG DV6HHVWyQzLVFRQVLGHUHGDPRQJWKHHOLWHMXVWOLNHDV6D\\LGDODNzP DQG DV6D\\LG DO.K{nz ZKR YLHZHG WHDFKLQJ DV DQKHDYHQO\ REOLJDWLRQZKLFKPXVWEHIXOILOOHGWRWKHEHVWDELOLW\RIWKHWHDFKHU 7KXVKHFRQVWDQWO\UHPLQGVKLVVWXGHQWVWRVSDUHQRHIIRUWLQ DVNLQJ DERXW HYHU\WKLQJ KRZHYHU WULYLDO LWPD\VHHPWRWKHPVXFK DV LQTXLULQJDERXWWKHQXPEHURISDJHVLQDERRNVRWKDWWKH\PD\ JHW XVHGWRFORVHFRQWDFWZLWKWKHWHDFKHU0RUHRYHUKHRIWHQHQFRXUDJHV WKHP WRFRPSDUHKLVVWXG\DQGUHVHDUFKZLWKWKHRWKHUV

LQ WKH VDPH ILHOG ZLWK D YLHZ WR ILQG RXW WKHLU VWUHQJWKV DQGZHDNQHVVHV



8/198

.SYWTIZHYNTS

*RGIHDULQJ DQG 3LHW\ 7KHUH LVDVWULNLQJSKHQRPHQRQWKDWWKHPDMRULW\RIVFKRODUVDQGJUHDWPHQVHHPWRVKDUHLQWKDWWKH\GRQRWDOORZ FRQWURYHUV\ DQG GLVSXWHVWRJHWEHWZHHQWKHP6XFKDVWDQGKDV SURYHQ WR EH ZLVH VLQFH WKH\ KDYH EHHQ QHFHVVLWDWHGE\WKHFRQFHUQ IRU WKH SXEOLF LQWHUHVW ,QGHHG oeDW WLPHV ZKHQLQQRYDWLRQV WKUHDWHQ WR FUHHS LQWR WKHUHOLJLRQLWLVLQFXPEHQWRQWKH VFKRODU WR SXW KLV NQRZOHGJH WR XVH LQ WKHGHIHQFHRIIDLWKRWKHUZLVH $OOyKZLOOWDNHDZD\WKHOLJKWRIEHOLHIRIWKHVFKRODUpDVWKH3URSKHWRI,VOyP3HDFHEHXSRQKLPDQGKLVIDPLO\KDGSXWLW

:KHQ WULDOVDQGWULEXODWLRQVDUHGHSOR\HGWRVHUYHWKHSHUVRQDOHQGVRI D VFKRODU RU WKH FRPPXQLW\ H[SHULHQFHV SURSDJDQGDZDUIDUHIDQQHG E\ PXWXDO HQPLW\ DQG HQY\ WKH m8ODPyn RI WKH DZ]Dm,OPL\\DK RQH RI WKHPEHLQJDV6D\\LGDV6HHVWyQzSUHIHUVLOHQFHDQGUHIUDLQIURPHQWHULQJWKHFRQIOLFW

6XFK ZDV WKH VWDWH RI DIIDLUV LQ WKH DIWHUPDWKRIWKHGHDWKRIDV

6D\\LG DO+DNzP DQG DV6D\\LG DO%XU{MHUGzDQGKLVWRU\UHSHDWHGLWVHOI DIWHU WKH GHSDUWXUH RI WKH*XDUGLDQRIWKHDZ]Dm,OPL\\DKDV6D\\LG DO.K{nz ZKHUH FRPSHWLWLRQDQGMRFNH\LQJIRUWLWOHVDQGSRVLWLRQVEHFDPHZLGHVSUHDG

)XUWKHUPRUH DV6D\\LG DV6HHVWyQzV FRQWHQWPHQW DQGKXPLOLW\LVUHIOHFWHG LQ KLVVLPSOHDWWLUHWKHVPDOOKRXVHLQZKLFKKHOLYHVEXW

GRHVQRWRZQDQGWKHVLPSOHIXUQLWXUHWKHUHLQ

+LV LGHRORJLFDOSURGXFWLRQ$V6D\\LGDV6HHVWyQzLVQRWDMXULVWVR WR VSHDN 5DWKHU KH LV D KLJKO\ HGXFDWHGPDQZKRNHHSVLQWRXFK ZLWK PRGHUQ YLVLRQV ZLWK UHJDUG WR WKH GHYHORSPHQW RISROLWLFDO DQG HFRQRPLF WKRXJKW +H KDV YHU\ JRRG LGHDVLQWKHUHDOP RI DGPLQLVWUDWLYH WKHRU\ DV ZHOO DV VRFLDO WKRXJKW WKDWLVFRPSDWLEOH ZLWK PRGHUQ SURJUHVV :LWKDOOWKLVLQSHUVSHFWLYHKH

YLHZV WKH GLVSHQVDWLRQ RI UHOLJLRXV HGLFWVDVDULJKWRIWKH,VODPLFVRFLHW\



9/198


2IILFH RI WKH VXSUHPHUHOLJLRXVDXWKRULW\6RPHVFKRODUVRIWKH1DMDI FHQWHU IRU WKHRORJLFDOVWXGLHVDZ]DDQ1DMDIZHUHTXRWHGDV VD\LQJ WKDW DIWHU WKHGHDWKRIDV6D\\LG1DVUXOOyKDO0XVWDQELWWKH\ DGYLVHG WKH ODWHDV6D\\LGDO.K{nzWRJURRPVRPHRQHIRUWKHRIILFH RI WKH VXSUHPH UHOLJLRXVDXWKRULW\DQGWKHJXDUGLDQVKLSDQGRYHUVHHLQJ RI WKH 1DMDIDZ]DK 7KHFKRLFHIHOORQDV6D\\LGDV6HHVWyQz IRU KLV H[FHOOHQFH NQRZOHGJHDQGLPSHFFDEOHFKDUDFWHU$FFRUGLQJO\ KH VWDUWHG OHDGLQJ WKH SUD\HU LQ ,PyP DO.K{nznVPDVMLG DO.KDGUD GXULQJ WKH OLIHWLPH RI KLV ODWH WHDFKHU DQG

ZULWLQJ DQG FRPSLOLQJKLVDQQRWDWLRQEDVHGRQDV6D\\LGDO.K{nzVo,VODPLF/DZVp

$IWHU WKHSDVVLQJDZD\RI0DUMyn7DTOzGRIWKH6KznyZRUOGDQGWKH*XDUGLDQ RI WKH DZ]Dm,OPL\\DKWKH/DWH\DWXOOyKDO8PyDOyMM DV6D\\LG $E{DO4yVLPDO.K{mz\DWXOOyKDOm8PyDOyMMDV6D\\LG m$Oz DOXVD\Qz DV6HHVWyQz ZDV DPRQJ WKHVL[SHRSOHZKR ZHUH SHUPLWWHG WR WDNH SDUW LQKLVIXQHUDODQGSHUIRUPHGWKH

VHUYLFHVRQWKHGHFHDVHG

:RUNVRIWKLV6FKRODU

\DWXOOyK 6HHVWDQz IRU FORVH WR \HDUVKDVEHHQFRQWLQXLQJWKHLPSRUWDQW WDVN RI WHDFKLQJ 'DUVH.KyULM LQ )LTK DQG 8V{ODQG5LMyO DQG WKH IUXLWV RI KLV VWUXJJOH IRU NQRZOHGJH DQG KLV

DFFRPSOLVKPHQWV KDYH EHHQ SUHVHUYHG LQZULWLQJQRZQXPEHULQJRYHU ERRNV0DQ\RIWKHVHERRNVKDYHEHHQWUDQVODWHGLQWRWKHYDULRXV ZRUOG ODQJXDJHV LQFOXGLQJ (QJOLVK 8UGX *XMDUDWL7XUNLVKDQGRWKHUV

%RRNVWUDQVODWHGLQWR(QJOLVK

,VOyPLF/DZV7UDQVODWLRQRI7DZ|KLXO0DVymLO

0DQyVHNDMM &RQWHPSRUDU\/HJDO5XOLQJVLQ6KzmL/DZ -XULVSUXGHQFH0DGH(DV\ 6LPSOLILHG,VOyPLF/DZVIRU


10/198

.SYWTIZHYNTS

$&RGHRI3UDFWLFHIRU0XVOLPVLQWKH:HVW 5XOHV5HODWLQJWRWKH'HFHDVHG&RQGHQVHG9HUVLRQ 5XOHV5HODWLQJWRWKH'HFHDVHG3KLORVRSK\DQG$~NyP

\DWXOOyKDOm8PyDOyMMDV6D\\LG$E{DO4yVLPDO0{VDZzDO.K{nzDQG

\DWXOOyKDOm8PyDOyMMDV6D\\LGm$OzDOXVD\QzDV6HHVWyQz



11/198


0O N M @ MM M

> D[ [

5HPHPEHULQJ'HDWK

%HIRUH D EHOLHYHU DSSURDFKHV WKH ILQDOPRPHQWRIKLVKHUOLIHDQGGHDWK RYHUWDNHV KLPLWLVQHFHVVDU\WKDWKHZDNHVXSIURPWKHVWDWH

RI QHJOLJHQFH DQGSUHSDUHVIRUWKHILQDOHYHUODVWLQJSODFH7KLVZD\KH ZLOO EH DEOHWRDYRLGEHZLOGHUPHQWDQGWKHIHDURIWKHVRFDOOHGXQWLPHO\GHDWK

$W WKH WLPH RI OHDYLQJ WKLV ZRUOG DVDWWHVWHGWRE\WKH4XUnyQDSHUVRQ ZLOO EH LQ RQH RI WZR VWDWHV HLWKHU KH ZLOO EH RI WKH&RPSDQLRQV RIWKH5LJKWRURIWKH&RPSDQLRQVRIWKH/HIW ,IKHLVFRXQWHG DPRQJVWWKH&RPSDQLRQVRIWKH5LJKWKHZLOOEHLQDJRRG

ILQDO VWDWHEXWLIKHLVRQHRIWKH&RPSDQLRQVRIWKH/HIWKHZLOOEHRIWKRVHZKRKDVVXIIHUHGDJUHDWORVV

$W WKLVSRLQWLWLV DSSURSULDWHWKDWZHVWDUWWKLVGLVFXVVLRQE\TXRWLQJ$~yGzWK IURP WKH 0Dn}{PzQ 3HDFH EH XSRQ WKHP DOO RQ WKHSUHSDUDWLRQIRUGHDWK

+TW F GJYYJW ZSIJWXYFSINSLTKYMJ(TRUFSNTSXTKYMJ7NLMYFSIYMJ (TRUFSNTSX TKYMJ1JKYUQJFXJWJKJWYTYMJ-TQ^6ZWdS8fWFM


12/198

.SYWTIZHYNTS

:KRLVWKH&OHYHUHVW%HOLHYHU"

[mNI

7KH 0HVVHQJHURI$OOyK3HDFHEHXSRQKLPDQGKLVIDPLO\ZDVRQFH DVNHG o:KR LV WKHFOHYHUHVWRIWKHEHOLHYHUV"p+HUHSOLHGo7KH SHUVRQ ZKR UHPHPEHUV GHDWK PRUHWKDQRWKHUVDQGWKHRQHZKR KDV SUHSDUHG KLPVHOI IRU LW PRUH WKDQ RWKHUVp %L~yUDO$QZyU9ROXPH3DJH

D D [Z

6RPHRQH RQFH DVNHG $PzU DO0RnPLQzQ 3HDFHEHXSRQKLPo:KDW LV WKH EHVW ZD\ WR SUHSDUHIRUGHDWK"p+H3HDFHEHXSRQKLP VDLG o2QH VKRXOG IXOILOOWKHREOLJDWRU\DFWVDEVWDLQIURPWKHIRUELGGHQ DQG H[KLELWH[DOWHGPRUDOV$WWKDWSRLQWRQHVKRXOGQRWEH FRQFHUQHG ZKHWKHUKHIDOOVXSRQGHDWKRUGHDWKIDOOVXSRQKLPp%L~yUDO$QZyU9RO3J

I M M M M

0D~P{GLEQ/DEzGUHODWHVWKDWWKH0HVVHQJHURI,VOyP3HDFHEHXSRQ KLPDQGKLVIDPLO\VDLGo7KHUHDUHWZRWKLQJVWKDWWKHVRQRIGDP GLVOLNHV GHDWK HYHQ WKRXJK GHDWK LV HDVHIRUWKHEHOLHYHUIURP WULDOV DQG WULEXODWLRQVDQGDUHGXFWLRQLQZHDOWKHYHQWKRXJKLQ WKH UHGXFWLRQRIZHDOWKOLHVDOHVVHQLQJLQRQHnVDFFRXQWDELOLW\p%L~yUDO$QZyU9ROXPH3DJH



13/198


MO I M MM M

[ [

D 7KH0HVVHQJHURI$OOyK3HDFHEHXSRQKLPDQGKLVIDPLO\VDLGo5HPHPEHU WKHGHVWUR\HURISOHDVXUHVp6RPHRQHDVNHGKLPo$QG

ZKDW LV WKDW 2n 0HVVHQJHU RI $OOyK"p +HVDLGo,WLVGHDWK1RVHUYDQWUHPHPEHUVLWDFFRUGLQJWRLWVUHDOLW\LQWLPHVRIHDVHZLWKRXWWKH ZRUOG ORVLQJ LWV SOHDVXUH IRU KLP QRU LQ WLPHV RIGLIILFXOW\ZLWKRXW LW JLYLQJ KLPHDVH'HDWKLVWKHILUVWVWDJHRIWKHQH[WOLIHDQG WKHODVWVWDJHRIWKHVWDJHVRIWKLVZRUOG)RUWXQDWHLVKHZKRLVUHVSHFWHG DQG ZHOFRPHG LQ WKH ILUVW VWDJH DQG ZKR KDV JRRGFRPSDQ\ LQ WKH ODVW VWDJH 'HDWK LV WKH QHDUHVW WKLQJ WR WKHGHVFHQGDQWV RI$GDPZKLOHKHFRQVLGHUVLWWKHIXUWKHVWWKLQJ+RZEROG PDQ LV ZLWK UHJDUGWRKLPVHOIDQGKRZZHDNRIDFUHDWLRQLVKH ,Q GHDWK WKHUHLVVDOYDWLRQIRUWKHVLQFHUHDQGDQQLKLODWLRQIRUWKH ZLFNHG DQG WKDW LV ZK\RQHZKRGHVLUHVGHDWKGHVLUHVLWDQGRQH ZKR GLVOLNHV GHDWK GLVOLNHV LWp %L~yU DO$QZyU9ROXPH3DJH

L

D



14/198

.SYWTIZHYNTS

ND M M

[ M $ PDQ RQHDVNHG$E{'KDUUo:K\GRZHGLVOLNHGHDWK"p$E{'KDUU $OOyKnV EOHVVLQJV EH XSRQ KLP UHSOLHG o


15/198


SOHDVHG E\ GHDWK KH LVWKHWUXHEHOLHYHUZKRE\G\LQJLVUHOLHYHGIURP WKH WULDOV DQG WULEXODWLRQV RI WKH ZRUOG$QGDVIRUWKHRQHZKRVH G\LQJ PDNHV RWKHUV SOHDVHGKHLVWKHQRQ%HOLHYHUZKRE\G\LQJ KDVUHOLHYHGWKHWUHHVDQLPDOVDQGPDQ\SHRSOHp%L~yUDO$QZyU9ROXPH3DJH

M I D [m

,PyPDVyGLT3HDFHEHXSRQKLPQDUUDWHVIURPWKH0HVVHQJHURI ,VOyP 3HDFH EH XSRQ KLP DQG KLV IDPLO\ o'HDWK LV DQDWRQHPHQW IRU WKH VLQV RI D EHOLHYHUp%L~yUDO$QZyU9ROXPH3DJH

F D

D I MI [D

M ,PyP DO5L|y 3HDFHEHXSRQKLPQDUUDWHVIURPKLVIRUHIDWKHUVWKDW ZKHQ WKH WLPH RI GHDWKRI,PyPDVDQDO0XMWDEy3HDFHEHXSRQ KLPDSSURDFKHGWKH,PyPIHOOLQWRWHDUV6RPHRQHVDLGo2nVRQ RI WKH 0HVVHQJHU RI $OOyK ZK\ DUH\RXFU\LQJWKRXJK\RXUSRVLWLRQ ZLWKWKH3URSKHWLVZKDWLWLVDQGWKH3URSKHWKDVVDLGDERXW\RX ZKDW KH KDV VDLG ,QDGGLWLRQWRWKLV\RXKDYHSHUIRUPHGWKH

DMM WZHQW\ WLPHV ZDONLQJ DQG WKUHH WLPHVLQ\RXUOLIH\RXVSOLW\RXU ZHDOWK DQG JDYH KDOI RI LW LQ WKHZD\RI$OODK,HYHQVRPXFK DV \RXU VKRHV"p 7KH ,PyP UHSOLHGo,DPFU\LQJIRUWZR



16/198

.SYWTIZHYNTS

UHDVRQV EHFDXVH RI IHDU RI GHDWK DQGEHFDXVHRIVHSDUDWLRQIURPWKRVHZKRP,ORYHp%L~yUDO$QZyU9ROXPH3DJH

7KH5HDOLW\RI5HSHQWDQFHIRU2QHnV6LQV

7KH VHFRQG VWDJH IRU WKH SHUVRQ ZKR VHHV WKH VLJQV RI GHDWKDSSURDFKLQJ LVWRUHSHQWIRUKLVVLQV,IDSHUVRQVXFFHHGVLQDVNLQJIRUJLYHQHVV IRU WKH VLQV WKDWKHKDVFRPPLWWHGKLVVWDWXVLVMXVWDVWKHRQHZKRKDGQRWFRPPLWWHGDQ\VLQV

I F D M

,QD~DGzWKIURPm$OzLEQ0{VyDO5L|y3HDFHEHXSRQKLPIURPKLV IRUHIDWKHUVTXRWLQJWKH0HVVHQJHURI,VOyP3HDFHEHXSRQKLPDQG KLV IDPLO\ LWLVVWDWHGWKDWo7KHSHUVRQZKRUHSHQWVIURPKLV

VLQV LV OLNH WKH RQHZKRKDGQRWFRPPLWWHGDVLQDWDOOp%L~yUDO$QZyU9ROXPH3DJH

+RZHYHU DVNLQJ IRU IRUJLYHQHVV IRU RQHnV VLQV KDV VSHFLILFFRQGLWLRQVWKDWPXVWEHQRWHG

D [O M MM [DOMMOOD

M MD



17/198


M

$PzU DO0RnPzQzQ 3HDFH EH XSRQ KLPVDLGWRDSHUVRQZKRZKLOH LQ KLV SUHVHQFH VDLG $VWDJILUXOOyK o0D\ \RXUPRWKHUORVH\RX 'R \RX NQRZ ZKDW LW PHDQV WRUHSHQW"5HSHQWDQFHLVWKHOHYHO RI SHRSOH RI D KLJK SRVLWLRQ,WLVDZRUGWKDWFRPHVIRUVL[PHDQLQJV 7KHILUVWLVWRUHSHQWRYHUWKHSDVWWKHVHFRQGLVWRPDNH

D ILUPGHWHUPLQDWLRQQHYHUWRUHYHUWWRLWWKHWKLUGLVWRGLVFKDUJHDOOWKH ULJKWV RI SHRSOH VR WKDW \RX PD\ PHHW $OOyK, FOHDQZLWKQRWKLQJ WR DFFRXQWIRUWKHIRXUWKLVWRIXOILOHYHU\REOLJDWLRQZKLFK\RX LJQRUHGLQWKHSDVWVRWKDW\RXPD\QRZGRMXVWLFHZLWKLWWKHILIWK LV WR DLPDWWKHIOHVKWKDWJUHZDVDUHVXOWRIXQODZIXOHDUQLQJVXFK WKDW \RX PD\ PHOW LW E\ JULHI RI UHSHQWDQFH WLOO WKHVNLQWRXFKHVWKHERQHDQGQHZIOHVKJURZVRQWRSRILWDQGWKHVL[WKLVWRPDNH WKHERG\WDVWHWKHSDLQRIREHGLHQFHDV\RXSUHYLRXVO\PDGH

LW WDVWH WKH VZHHWQHVV RI GLVREHGLHQFH $WWKDWWLPH\RXPD\VD\$VWDJILUXOOyKp%L~yUDO$QZyU9ROXPH3DJH



18/198


> 5XOHV5HJDUGLQJWKH:ULWLQJRID:LOO @

1RZ WKDW ZH KDYH EHFRPH IDPLOLDU ZLWK VRPH RI WKHWUDGLWLRQVFRQFHUQLQJ WKHUHPHPEUDQFHRIGHDWKDQGUHSHQWDQFHIRURQHnVVLQVLW LV DSSURSULDWH WR GLVFXVV DQRWKHU WRSLFRIJUHDWLPSRUWDQFHWKDWPXVW EH UHYLHZHG EHIRUH RQHnV GHDWK q QDPHO\ WKHZULWLQJRID:LOO

2QH RI WKH PRVW LPSRUWDQW WRSLFV ZKLFK KDV EHHQ JUHDWO\HPSKDVL]HG LQ,VOyPLVWKHZULWLQJRIWKH:LOO,WKDVEHHQQDUUDWHGE\,PyP-DmIDUDVyGLT3HDFHEHXSRQ KLPWKDW

o2QH ZKRGLHVZLWKRXWD:LOOGLHVWKHGHDWKRIRQHGXULQJWKHGD\V

RI,JQRUDQFH3UH,VOyPLFDJHp:DVynLODO6KznD9ROXPH3DJH

M ,Q DQRWKHU ~DGzWK LW LV PHQWLRQHG WKDW LW LV EHWWHU WKDW ZKHQ D0XVOLP LQWHQGV WR JR WR VOHHS KH NHHSV KLV:LOOXQGHUQHDWKKLV

SLOORZ:DVynLODO6KznD9ROXPH3DJH

,Q D ~DGzWK QDUUDWHG E\ $Ez DEyK.DQyQz,PyP-DmIDUDVyGLT3HDFH EHXSRQKLPZDVDVNHGUHJDUGLQJWKHUHDOLW\DQGWUXWKDERXWWKH :LOODQGKHUHSOLHGo7KLVLVDQLVVXHZKLFKLVILUPO\URRWHGLQ,VOyP DQG LV D QHFHVVLW\ IRU HYHU\ 0XVOLPp :DVynLODO6KznD9ROXPH3DJH

7KH&RUUHFW:LOOLQ,VOyP

:LWK DOO WKHHPSKDVLVWKDWKDVEHHQSODFHGRQWKHZULWLQJRID:LOOLW LV DOVR QHFHVVDU\WROHDUQWKHFRUUHFWSURFHGXUHRIZULWLQJD:LOO



19/198


20/198


:LOOLQJRURI2QHnV:HDOWK"

2QFH D SHUVRQ OHDYHVWKLVZRUOGKHORVHVWKHSRZHURIFKRLFHRYHUKLV ZHDOWK DQG KDV QRVD\LQKRZKLVZHDOWKVKRXOGEHVSHQW7KLVFDQ EH DYHUWHG LIGXULQJKLVOLIHKHKDGZULWWHQD:LOO,QWKH:LOOKH FDQVSHFLI\WKDWRIKLVZHDOWKEHVSHQWLQDFHUWDLQZD\DVKHGHVLUHV

D

[

O ZNNDVDQLEQm$OzLEQLEQ


21/198

7ZQJX7JLFWINSLYMJ


22/198


$V IRU WKH ZKR ZDVWHV KLV PRQH\ KLV :LOO ZKLFKUHODWHVWRKLVSURSHUW\ LV QRW YDOLGEXWLQPDWWHUVRWKHUWKDQWKHSURSHUW\OLNHLQPDWWHUVRIVRPHWDVNVRUGXWLHVWREHSHUIRUPHGIRUWKHGHFHDVHGKLV:LOOLVYDOLG

5XOH ,I D SHUVRQ ZKR LQMXUHV KLPVHOI LQWHQWLRQDOO\ RU WDNHVSRLVRQ VXFK WKDW GHDWKEHFRPHVFHUWDLQRUSUREDEOHPDNHVD:LOOWKDW DFHUWDLQSDUWRIKLVSURSHUW\EHSXWWRVRPHSDUWLFXODUXVHWKHQKLV:LOOZRXOGQRWEHLQRUGHU

5XOH ,I D SHUVRQPDNHVD:LOOWKDWVRPHWKLQJIURPKLVSURSHUW\ZLOO EHORQJ WR VRPHRQH HOVH DQG LI WKDWSHUVRQDFFHSWVWKH:LOOWKHQ HYHQ LI KLV DFFHSWDQFH WRRN SODFH GXULQJWKHOLIHWLPHRIWKHWHVWDWRU WKDW WKLQJ ZLOO EHFRPH KLVSURSHUW\DIWHUWKHGHDWKRIWKHWHVWDWRU

5XOH :KHQ D SHUVRQ VHHV WKH VLJQV RI GHDWK DSSURDFKLQJ LQ

KLPVHOI KH VKRXOG LPPHGLDWHO\ UHWXUQ WKH WKLQJVKHOGLQWUXVWE\KLP WR WKHLU RZQHUV RU KH VKRXOG LQIRUP WKH RZQHUV DFWLQJDFFRUGLQJ WRWKHGHWDLOVPHQWLRQHGLQUXOHQXPEHU,QDGGLWLRQLI KH LV LQGHEWHG WR RWKHUVDQGWKHWLPHIRUUHSD\PHQWRIWKHGHEWKDV PDWXUHG RU LI WKH FUHGLWRUV PDNH WKH GHPDQGWKHQKHPXVWUHSD\WKHGHEW,IKHLVQRWLQDSRVLWLRQWRUHSD\WKHGHEWRUWKHWLPHIRU LWV UHSD\PHQW KDV QRW \HW PDWXUHGRUWKHFUHGLWRUKDVQRW\HW

GHPDQGHG LW WKHQ KH VKRXOGPDNHDUUDQJHPHQWVWRHQVXUHWKDWKLVFUHGLWRU ZLOO EH SDLG DIWHU KLV GHDWK VXFKDVE\PDNLQJD:LOOWRLQIRUPWKRVHZKRDUHXQDZDUHRIWKHGHEWDQGDOVRDSSRLQWDZLWQHVVWRWKH:LOO

5XOH ,I D SHUVRQ ZKR VHHV WKH VLJQV RI GHDWKDSSURDFKLQJLQKLPVHOI KDV D GHEW RI .KXPV =DNyWRURWKHUOLDELOLWLHVDQGLIKHFDQQRW PDNH WKH SD\PHQW LPPHGLDWHO\WKHQKHPXVWPDNHD:LOO

GLUHFWLQJ SD\PHQW LI KH RZQV VRPH SURSHUW\ RU LI KH NQRZVVRPHRQH ZLOO SD\ WKH GHEWVRQKLVEHKDOI7KHVDPHUXOHDSSOLHVLIKH KDG DMM REOLJDWRU\ XSRQ KLP +RZHYHU LI KHLVFDSDEOHRI



23/198

7ZQJX7JLFWINSLYMJ


24/198


WKH H[HFXWLRQ RI WKH :LOO ,I KH KDG QRWJLYHQVXFKSHUPLVVLRQZKHWKHU KHKDGVDLGWKDWRUQRWWKDWERWKRIWKHPVKRXOGH[HFXWHWKH:LOO MRLQWO\ WKH\ PXVW H[HFXWH WKH :LOOLQFRQVXOWDWLRQZLWKRQHDQRWKHU$QGLIWKH\DUHQRWSUHSDUHGWRH[HFXWHWKH:LOOMRLQWO\DQGWKLV XQZLOOLQJQHVV LV QRW DFFRPSDQLHGE\DQ\UHOLJLRXVPLVJLYLQJWKHQ WKH 0XMWDKLG FDQIRUFHWKHPWRGRVRDQGLIWKH\GRQRWREH\KLV RUGHUV RU DQ\RQHKDVDUHOLJLRXVH[FXVHIRUQRWEHLQJSUHSDUHGWRDFWMRLQWO\WKHQWKH0XMWDKLGFDQUHSODFHWKHGLVVHQWLQJH[HFXWRU

5XOH ,I DSHUVRQUHWUDFWVDGLUHFWLYHLQKLV:LOOIRUH[DPSOHLIKH ILUVW VD\V WKDWRIKLVSURSHUW\PXVWEHJLYHQWRDSHUVRQDQGWKHQ VD\V WKDW LW PXVW QRWEHJLYHQWRKLPWKHQWKH:LOOEHFRPHVYRLG ,I KH FKDQJHV KLV :LOO IRU H[DPSOH LI KH DSSRLQWV DQDGPLQLVWUDWRU IRU KLV FKLOGUHQ DQGWKHQUHSODFHVKLPZLWKDQRWKHUSHUVRQ WKHQ KLV ILUVW:LOOEHFRPHVYRLGDQGKLVVHFRQG:LOOPXVWEHDFWHGXSRQ

5XOH ,IDSHUVRQFRQGXFWVKLPVHOILQDPDQQHUZKLFKVKRZVWKDWKH KDV GUDZQ EDFN IURP KLV:LOOIRUH[DPSOHLIKHVHOOVDKRXVHZKLFK KHKDGZLOOHGWRJLYHDZD\WRVRPHRQHRUDSSRLQWVVRPHRQHDV KLV DJHQW WR VHOO LW LQVSLWH RI KLV RULJLQDO ZLVKWKHQWKH:LOOEHFRPHVYRLG

5XOH ,I D SHUVRQ PDNHV D:LOOWKDWDSDUWLFXODUWKLQJPXVWEH

JLYHQ DZD\ WR VRPHRQH DQGODWHUFKDQJHVLWWRVD\WKDWKDOIRIWKHVDPH WKLQJPXVWEHJLYHQWRDQRWKHUSHUVRQWKHQWKDWWKLQJPXVWEHGLYLGHGLQWRWZRSDUWVDQGRQHSDUWPXVWEHJLYHQWRHDFKRIWKHP

5XOH ,I D SHUVRQZKRLVRQKLVGHDWKEHGEHVWRZVDSDUWRIKLVSURSHUW\ DV DJLIWWRDFHUWDLQSHUVRQDQGPDNHVD:LOOWKDWDIWHUKLVGHDWK DQRWKHU TXDQWLW\ EH JLYHQ WR\HWDQRWKHUSHUVRQDQGLIERWKWKH JLIWVH[FHHGRQHWKLUGRIKLVHVWDWHDQGWKHKHLUVDUHQRWSUHSDUHG

WR DSSURYHWKHH[FHVVWKHQLQWKDWFDVHWKHILUVWHQGRZPHQWPXVWEHJLYHQ WR WKHILUVWEHQHILFLDU\DQGZKDWHYHUUHPDLQVIURPRQHWKLUGPXVWEHVSHQWDFFRUGLQJWRWKH:LOO



25/198

7ZQJX7JLFWINSLYMJ


26/198


ZKHQ GXH WR VHULRXV LOOQHVV RU VRPHRWKHUKLQGUDQFHWKHWHVWDWRUFDQQRW DSSRLQW DQ\ RWKHU H[HFXWRU WKHQ KH PXVW DFFHSW WKHDSSRLQWPHQWRQWKHEDVLVRISUHFDXWLRQ

5XOH $IWHU D WHVWDWRUGLHVWKHH[HFXWRUFDQQRWDSSRLQWDQRWKHUSHUVRQ WR H[HFXWH WKH :LOO DQGZLWKGUDZKLPVHOI+RZHYHULIKHNQRZV WKDW WKH GHFHDVHG GLG QRW PHDQ WKDW WKH H[HFXWRUVKRXOGH[HFXWH WKH :LOOKLPVHOIUDWKHUZKDWKHZDQWHGZDVRQO\WKDWWKHJLYHQ ZRUN VKRXOG EH DFFRPSOLVKHG WKHQKHFDQDSSRLQWDQRWKHU

SHUVRQRQKLVEHKDOI

5XOH ,I D SHUVRQDSSRLQWVWZRSHUVRQVDVMRLQWH[HFXWRUVDQGLIRQH RI WKHP GLHVEHFRPHLQVDQHRUEHFRPHVDQDSRVWDWHWKHQWKH0XMWDKLG ZLOO DSSRLQW DQRWKHUSHUVRQLQKLVSODFH,IERWKRIWKHPGLH EHFRPHLQVDQHRUDSRVWDWHVWKHQWKH0XMWDKLGZLOODSSRLQWWZRSHRSOH LQ WKHLUSODFH+RZHYHULIRQHSHUVRQFDQH[HFXWHWKH:LOOWKHQLWLVQRWQHFHVVDU\WRDSSRLQWWZRIRUWKDWSXUSRVH

5XOH ,IDQH[HFXWRUDORQHFDQQRWSHUIRUPDOOWKHWDVNVODLGGRZQLQ WKH:LOORIWKHGHFHDVHGHYHQE\DSSRLQWLQJVRPHRQHDVKLVDJHQWRU E\ KLULQJVRPHRQHHOVHWKHQWKH0XMWDKLGZLOODSSRLQWVRPHRQHWRDVVLVWKLPLQKLVGXWLHV

5XOH ,IVRPHTXDQWLW\IURPWKHSURSHUW\RIDGHDGSHUVRQLVORVW

RUGDPDJHGZKLOHLQWKHFXVWRG\RIWKHH[HFXWRUWKHQLIKHKDGEHHQQHJOLJHQW LQORRNLQJDIWHULWRUKDGJRQHEH\RQGPRGHUDWLRQKHZLOOEH UHVSRQVLEOH )RU H[DPSOH LIWKHGHDGSHUVRQKDGZLOOHGKLPWRJLYH DFHUWDLQTXDQWLW\WRWKHSRRURIDSDUWLFXODUWRZQDQGKHWRRNLWWR VRPH RWKHU WRZQ DQGLQWKHSURFHVVLWSHULVKHGWKHQKHZLOOEHUHVSRQVLEOH IRU LW%XWLIKHZDVQHLWKHUQHJOHFWIXOQRULPPRGHUDWHWKHQKHZLOOQRWEHUHVSRQVLEOHIRUWKHORVV

5XOH ,IDSHUVRQDSSRLQWVVRPHRQHDVKLVH[HFXWRUDQGVD\VWKDWDIWHU WKDWH[HFXWRUVGHDWKDQRWKHUSHUVRQVKRXOGEHWKHH[HFXWRULQKLV SODFH WKHQ WKH VHFRQG H[HFXWRU PXVW SHUIRUP WKH WDVNVODLGGRZQLQWKH:LOORIWKHGHFHDVHGDIWHUWKHGHDWKRIWKHILUVWRQH



27/198

7ZQJX7JLFWINSLYMJ


28/198


SD\PHQW RI KLVGHEWVDQGKLVKHLUVDOVRGRQRWSHUPLWWKDWDQ\WKLQJPRUH WKDQ WKH RIKLVSURSHUW\VKRXOGEHVSHQWWKHQKLV:LOOLQUHVSHFWRISUD\HUVIDVWVDQG0XVWD~DEDFWVLVYRLG

5XOH ,I D WHVWDWRU ZLOOV WKDWKLVGHEWVKRXOGEHSDLGVRPHRQHVKRXOG EH KLUHG IRU WKHSHUIRUPDQFHRIKLV4D|ySUD\HUVDQGIDVWVDQG DOVR 0XVWD~DE DFWV VKRXOG EH SHUIRUPHGEXWGRHVQRWGLUHFWWKDW WKH H[SHQVHV IRU WKRVH DFWV VKRXOG EH SDLG IURP RIKLVHVWDWH WKHQ KLV GHEW PXVW EHSDLGIURPKLVHVWDWHDQGLIDQ\WKLQJ

UHPDLQV RI LWPXVWEHVSHQWRQSUD\HUVDQGIDVWVDQG0XVWD~DEDFWV VSHFLILHG E\ KLP ,I WKDWLVQRWVXIILFLHQWDQGLIKLVKHLUVSHUPLW WKHQ KLV :LOO VKRXOGEHLPSOHPHQWHGE\SD\LQJIURPWKHLUVKDUH DQG LI WKH\ GR QRWSHUPLWWKHQWKHH[SHQVHVRISUD\HUVDQGIDVWV VKRXOG EH SDLG IURP WKH RI KLV HVWDWH DQGLIDQ\WKLQJUHPDLQVLWVKRXOGEHVSHQWRQWKH0XVWD~DEDFWVVSHFLILHGE\KLP

5XOH ,I D SHUVRQ FODLPV WKDW WKH GHFHDVHG KDG ZLOOHGWKDWD

FHUWDLQ DPRXQW VKRXOGEHJLYHQWRKLPDQGWZRmGLOPHQFRQILUPKLV VWDWHPHQW RU LI KH WDNHV DQ RDWK DQG RQH mGLO PDQ DOVRFRQILUPV KLV VWDWHPHQW RULIRQHmGLOPDQDQGWZRmGLOZRPHQRU IRXU mGLOZRPHQEHDUZLWQHVVWRZKDWKHVD\VWKHQWKHDPRXQWFODLPHGE\KLPPXVWEHJLYHQWRKLP

$QG LI RQO\ RQH mGLO ZRPDQ EHDUV ZLWQHVV RIWKHDPRXQW

FODLPHG E\KLPPXVWEHJLYHQWRKLPDQGLIWZRmGLOZRPHQEHDUZLWQHVV RIWKDWDPRXQWDQGLIWKUHHmGLOZRPHQEHDUZLWQHVVRILWPXVWEHJLYHQWRKLP

$OVR LI WZR QRQ0XVOLP PDOHV IURP DPRQJVW$KODO.LWyE7KH3HRSOH RI WKH %RRN ZKR DUH HVWHHPHG DV mGLO LQ WKHLU RZQUHOLJLRQ FRQILUP KLV VWDWHPHQW DQGLIWKHGHFHDVHGZDVREOLJHGWRPDNH D :LOO ZKLOH QR mGLO PDQ DQGZRPDQZDVSUHVHQWDWWKDW

WLPHWKHQWKHDPRXQWFODLPHGE\WKDWSHUVRQPXVWEHJLYHQWRKLP

5XOH ,I D SHUVRQFODLPVWKDWKHLVWKHH[HFXWRURIWKHGHFHDVHGDQG FDQ DFW DFFRUGLQJ WR WKH:LOODQGSXWLWLQWRHIIHFWRUWKDWWKH



29/198

7ZQJX7JLFWINSLYMJ


30/198


> 5XOHV5HODWHGWRD'\LQJ3HUVRQ@

7KH ZRUG 0X~WD|LU LV XVHG WR UHIHU WR D SHUVRQ ZKR LV RQKLVGHDWKEHG

:KHQ D SHUVRQ LV LQWKLVVLWXDWLRQPHDQLQJWKDWWKHVLJQVRIGHDWKDUH DSSDUHQW LQ KLP DQG KH LV DERXW WRGLHDQGHLWKHUKLPVHOIRU

WKRVH ZKR DUH DURXQGKLPUHFRJQL]HWKDWKHLVDERXWWREUHDWKHKLVODVW EUHDWK IRU H[DPSOHKHLVWROGWKDWZLWKLQKDOIDQKRXURURQHKRXU KH ZLOO SDVV DZD\ WKHQ WKHUXOHVUHODWHGWRD0X~WD|LUZLOODSSO\WRKLP

7KH UXOHVUHODWHGWRD0X~WD|LUDUHGLYLGHGLQWRWZRFDWHJRULHVWKHILUVW FDWHJRU\ LQFOXGHWKRVHUXOHVWKDWDUH:yMLEWREHSHUIRUPHGE\WKH SHUVRQ KLPVHOI ZKR LV WKH 0X~WD|LUDQGWKHVHFRQGFDWHJRU\

LQFOXGHV UXOHV WKDW DUH :yMLE WR EH SHUIRUPHG E\ WKRVHWKDWDUHDURXQGKLP

7KH:yMLE5XOHV5HODWHGWRWKH0X~WD|LU'\LQJ3HUVRQ

7KH WKLQJVZKLFKDUH:yMLEXSRQWKHSHUVRQZKRLVDWWKHHQGRIKLVOLIHDQGLVLQWKHVWDWHRI,~WL|yUDUH

$VNLQJ IRU IRUJLYHQHVV IRU KLV VLQV DQGDVNLQJ$OOyK, WRKDYHPHUF\ DQGSDUGRQWKRVHWUDQVJUHVVLRQVWKDWKHPD\KDYHFRPPLWWHG7KH DVNLQJ IRU IRUJLYHQHVVDQGPHUF\IURP$OOyK, LVVRPHWKLQJWKDW ZH DUH DOO LQ QHHGRIHVSHFLDOO\KHZKRLVDERXWWROHDYHWKLVZRUOG (YHQ WKH PRVWSLRXVDQGSXUHRISHRSOHFDQQRWEHFHUWDLQWKDW DW WKH WLPH RI GHDWK WKH\ ZLOO QRW FRPPLW DQ\PLVGHHGRUZURQJGRLQJ DJDLQVW , ,W LV IRU WKLV UHDVRQ WKDW ZH VHH WKH$nLPPDK3HDFHEHXSRQDOORIWKHPZKRDOWKRXJKWKH\ZHUHDWWKHOHYHO RIm,VPDWDQG3XULW\IURPDOOVLQVDQGWUDQVJUHVVLRQVVWLOOWKH\ZHUHFRQVWDQWO\LQDVWDWHRIDVNLQJIRUJLYHQHVVIURP$OOyK,



31/198

5XOHV5HODWHGWRD'\LQJ3HUVRQ

:ULWLQJD:LOO5HODWLQJWRWKH5LJKWVRI2WKHUV

$QRWKHU WKLQJZKLFKLV:yMLERQWKHSHUVRQZKRLVLQ,~WL|yULVWKDWLI KH KDVDQ\SURSHUW\RUWUXVWLQKLVSRVVHVVLRQWKDWEHORQJWRRWKHUSHRSOH RU LI KH RZHVVRPHRQHVRPHWKLQJDQGLIKHKLPVHOILVQRWDEOH WRIXOILOOWKHWUXVWRUSD\EDFNWKDWZKLFKKHRZHVWKHQKHPXVWLQIRUPWKRVHDURXQGKLPRIWKLV

:ULWLQJD:LOO5HODWLQJWRWKH:yMLE$FWLRQV

WKDWKDYH%HFRPH4D|y

,W LV DOVR :yMLE XSRQ WKH 0X~WD|LU WKDW LI WKHUHDUHDQ\DFWLRQVZKLFK ZHUH :yMLE RQ KLPEXWZHUHQRWSHUIRUPHGWKDWKHLQIRUPWKRVH DURXQG KLP )RU H[DPSOH KH VD\V WKDW,KDYHRQH\HDURIDOyW WKDW,KDYHQRWSUD\HGRUWKDW,KDYHRQHPRQWKRIIDVWLQJWKDW, KDYH QRW SHUIRUPHG 7KH VDPH DSSOLHV IRUWKHSHUIRUPDQFHRIDMM LI KH KDGQHYHUJRQHRUIRU.KXPVDQG=DNyWWKDWKHKDGQRWSDLGRUIRUDQ\RWKHUORDQVRUGHEWVWKDWDUHRXWVWDQGLQJ

$V IRU WKRVH WKLQJV ZKLFKDUH:yMLEWRSHUIRUPRUDQRXWVWDQGLQJGHEW LW GRHVQRWPDNHDQ\GLIIHUHQFHLIKHKDVPRQH\VRPHZHDOWKRU VRPHWKLQJWKDWFDQEHVROGqDOWKRXJKLIKHKDVDQ\WKLQJWKDWFDQEH VROG WKHQ WKH UHVSRQVLELOLW\ LV FOHDU q VLQFH WKRVH ZKR ZLOOH[HFXWH KLV :LOODQGKLVLQKHULWRUVZLOOEHDEOHWRSD\KLVGHEWVDQG

PDNHXSWKHPLVVHGUHVSRQVLELOLWLHVIURPKLVPRQH\

+RZHYHU LI KHOHDYHVEHKLQGQRPRQH\QRUDQ\WKLQJHOVHRIYDOXHWKHQ KH PXVW VWLOODQQRXQFHWKRVHDFWVRUZRUVKLSZKLFKKHKDVQRWSHUIRUPHG VLQFH WKH GHFODUDWLRQ RIWKHVHWKLQJVLV:yMLEXSRQWKHSHUVRQ ZKR LV 0X~WD|LU $OVR LW LV SRVVLEOH WKDWWKRVHZKRDUHDURXQG KLP DQGZKRDUHFRQFHUQHGIRUKLPDQGKLVVWDWHLQWKHQH[WOLIH ZLOO FRPH IRUZDUG DQG IRUWKHSOHDVXUHRI$OOyK,SHUIRUPWKHDFWLRQVWKDWKHGLGQRWGLVFKDUJH



32/198


7KH5XOHV5HODWHGWRWKRVH$URXQGWKH0X~WD|LU'\LQJ

3HUVRQ5XOH $ 0XVOLP ZKRLVG\LQJZKHWKHUPDQRUZRPDQROGRU\RXQJ PXVW DFFRUGLQJ WR SUHFDXWLRQ EH ODLG RQ KLVKHU EDFNLI

SRVVLEOH LQ VXFK D PDQQHUWKDWWKHVROHVRIKLVKHUIHHWZRXOGIDFHWKH4LEODKGLUHFWLRQWRZDUGVWKHKRO\.DEDK

5XOH ,WLVUHFRPPHQGHGWKDWWKHERG\EHODLGIDFLQJWKH4LEODK

XQWLO LW GLHV DQG WKH*KXVOVDUHJLYHQ+RZHYHUZKHQWKH*KXVOVDUH FRPSOHWHG LW LV EHWWHU WR OD\LWWKHVDPHZD\DVLWLVWREHODLGZKHQWKHSUD\HUVDUHRIIHUHGIRULW

5XOH $FFRUGLQJWR,~WL\yLWLV:yMLEXSRQHYHU\0XVOLPWROD\D G\LQJ SHUVRQ IDFLQJWKH4LEODKDQGLIWKHG\LQJSHUVRQFRQVHQWVWR LW WKHUH LV QR QHHG WR VHHN WKHSHUPLVVLRQIURPWKHJXDUGLDQ2WKHUZLVHWKHSHUPLVVLRQPXVWEHVRXJKW

5XOH ,W LV UHFRPPHQGHGWKDWWKH6KDKyGDWDzQRI,VOyPDQGWKHDFNQRZOHGJHPHQW RI WKHWZHOYH,PyPVDQGWKHRWKHUWHQHWVRIIDLWKEH UHSHDWHG WR WKH G\LQJ SHUVRQ LQ VXFK DPDQQHUWKDWKHRUVKHZRXOG XQGHUVWDQG WKHP ,WLVDOVRUHFRPPHQGHGWKDWWKRVHWKLQJVUHFLWHGWRKLPDUHUHSHDWHGXQWLOWKHWLPHRIKLVRUKHUGHDWK

5XOH ,W LVUHFRPPHQGHGWKDWWKHIROORZLQJVXSSOLFDWLRQVKRXOGEH UHFLWHG RYHU D G\LQJ SHUVRQ LQ VXFK D PDQQHU WKDWKHRUVKHZRXOGXQGHUVWDQGLW

ZZ M ZZZ Z

M7UDQVODWLRQ o2n $OOyK )RUJLYH P\ VLQV ZKLFK DUH PDQ\ DQGDFFHSW WKH OLWWOH , KDYH GRQH LQ


33/198


DFFHSWV WKHOLWWOHJRRGGHHGVDQGIRUJLYHVWKHPDQ\VLQV$FFHSWIURP PH WKHOLWWOHJRRGGHHGVDQGIRUJLYHWKHPDQ\VLQV7UXO\


34/198


M M M[M O [ M

[ [ M [W

M K

MM



35/198


M IKM O

[M M [M

MM[ [ M M

MM M

L



36/198


M [ KMZO O M M [ M M

[ OMM M

M M



37/198


OM 0

,QWKH1DPHRI$OOyKWKH%HQHILFHQWWKH0HUFLIXO

,VZHDUE\< y6zQ

DQGWKH4XUnyQWKH%RRNRIZLVGRP

WKDW\RX0X~DPPDGDUHD0HVVHQJHU

DQGWKDW\RXIROORZWKHULJKWSDWK

7KLVLVDUHYHODWLRQVHQWGRZQIURPWKH0DMHVWLFDQG$OOPHUFLI XO

VR WKDW \RXPD\ZDUQDSHRSOHZKRDUHXQDZDUHEHFDXVHWKHLUIDWKHUVZHUHQRWZDUQHG

, VZHDU WKDWPRVWRIWKHP DUHGRRPHGWREHSXQLVKHG 7KH\KDYHQRIDLWK

:H KDYH HQFKDLQHG WKHLU QHFNV XS WRWKHLUFKLQV7KXVWKH\FDQQRWEHQGWKHLUKHDGVWR ILQGWKHLUZD\

:H KDYH VHWXS D EDUULHULQIURQWRIDQGEHKLQGWKHPDQGKDYHPDGHWKHPEOLQG7KXVWKH\FDQQRWVHH

:KHWKHU\RXZDUQWKHPRUQRWWKH\ZLOOQRWEHOLHYH


38/198


7KH SHRSOH VDLG o


39/198


(YLGHQFHRIWKHWUXWKIRUWKHPLVKRZ:HUHYLYHGWKHGHDGHDUWK

DQG SURGXFHG WKHUHLQ JUDLQV IURP ZKLFK WKH\ HDW D QG HVWDEOLVKHGWKHUHLQ JDUGHQV RI SDOPV WUHHVDQGYLQH\DUGVDQGKDYHPDGHVWUHDPVIORZWKHUHLQ

VR WKDWWKH\PD\FRQVXPHWKHIUXLWVDQGZKDWHYHUWKHLUKDQGVSUHSDUH:LOOWKH\QRWWKHQEHJUDWHIXO"

$OO JORU\ EHORQJV WRWKH2QH :KRKDVFUHDWHGSDLUVRXW RIZKDWJURZIURP WKH HDUWK RXW RI WKHLU VRXO DQG RXW RIWKDWZKLFKWKH\GRQRWNQRZ

2I WKH VLJQVIRUWKHPLVKRZ:HVHSDUDWHGWKHGD\IURPWKHQLJKWDQGWKXVWKH\UHPDLQHGLQGDUNQHVV

KRZ WKH VXQ PRYHV LQ LWVRUELWDQGWKLVLVWKHGHFUHHRIWKH0DMH VWLFDQG$OONQRZLQJ*RG

KRZ :H RUGDLQHG WKH PRRQ WR SDVV WKURXJK FHUWDLQSKDVHVXQWLOLWVHHPVHYHQWXDOO\WREHOLNHDEHQWWZLJ

KRZ WKH VXQ LV QRW VXSSRVHG WR FDWFKXS ZLWKWKHPRRQQRULVWKH

QLJKWWRSUHFHGHWKHGD\$OORIWKHPDUHWRIORDWLQD FHUWDLQRUELWKRZ:HFDUULHGWKHPDQGWKHLURIIVSULQJLQVLGHWKHODGHQ$UN

DQGFUHDWHGIRUWKHPVLPLODUWKLQJVWRULGH

+DG :H ZDQWHG :H FRXOG KDYH GURZQHGWKHPDQGQRWKLQJZRXOGKDYHEHHQDEOHWRKHOSRUUHVFXHWKHP

H[FHSW 2XUPHUF\ZKLFKFRXOG HQDEOHWKHPWRHQMR\WKHPVHOYHVIRUDQDSSRLQWHGWLPH

:KHQHYHU WKH\ DUH WROGWRJXDUGWKHPVHOYHVDJDLQVWVLQDQGWKHIRUWKFRPLQJWRUPHQWVRWKDWSHUKDSVWKH\FRXOGUHFHLYHPHUF\

DQG ZKHQHYHU D UHYHODWLRQ RXW RI WKHLU /RUGVUHYHODWLRQVFRPHVWRWKHPWKH\LJQRUHLW

:KHQ WKH\ DUH WROGWRVSHQGIRUWKHFDXVHRI*RGRXWRIZKDW+HKDVSURYLGHG IRU WKHP IRU WKHLU VXVWHQDQFH WKH GLVEHOLHYHUV VD\WRWKHEHOLHYHUV 6KRXOGZHIHHGWKRVHZKRP*RGKDVGHFLGHGWRIHHG"


40/198


7KH\ZLOOQRWKDYHWRZDLWORQJ:KHQWKH'D\RI-XGJHPHQWFRPHVLWZLOO RQO\ WDNH D VLQJOH EODVW RI VRXQGWRVWULNHWKHPZKLOHWKH\DUH

TXDUUHOOLQJZLWKRQHDQRWKHU

7KHQWKH\ZLOOQRWEHDEOHWRPDNHDZLOORUUHWXUQWRWKHLUIDPLOLHV

:KHQ WKH WUXPSHW LV VRXQGHG WKH\ZLOOEHGULYHQRXWRIWKHLUJUDYHLQWRWKHSUHVHQFHRIWKHLU/RUG

7KH\ ZLOO VD\ o:RH WR XV :KRKDVUDLVHGXVXSIURPRXUJUDYHV"7KLV LV ZKDW WKH%HQH ILFHQW*RGKDVSURPLVHG7KH0HVVHQJHUVKDYHDOVRVSRNHWKHWUXWKp

2QO\ DIWHU D VLQJOH EODVW RI VRXQGWKH\ZLOODOOEHEURXJKWLQWR 2XUSUHVHQFH

1R VRXO ZLOO EH LQWKHOHDVWELWZURQJHGRQWKDW'D\DQGQRRQHZLOOUHFHLYHDQ\UHFRPSHQVHRWKHUWKDQZKD WKHGHVHUYHVIRUKLVGHHGV

7KHGZHOOHUVRI3DUDGLVHRQWKDWGD\ZLOOHQMR\WKHPVHOYHV

7KH\DQGWKHLUVSRXVHVZLOOUHFOLQHRQFRXFKHVLQWKHVKDGH

WKHUHLQ7KH\ZLOOKDYHIUXLWVDQGZKDWHYHUWKH\GHVLUHo3HDFH EH ZLWK \RXp ZLOO EH DJUHHWLQJIRU WKHPIURPWKH0HUFLIXO

/RUG

7KH /RUG ZLOOFRPPDQGo&ULPLQDOVVWDQGDZD\IURPWKHRWKHUVRQWKLVGD\p

&KLOGUHQRI $GDPGLG:HQRWFRPPDQG\RXQRWWRZRUVKLS6DWDQ+HZDV\RXUVZRUQHQHP\

'LG :H QRW FRPPDQG\RXWRZRUVKLS0HDQGWHOO\RXWKDWW KLVLVWKHVWUDLJKWSDWK"p

6DWDQ PLVOHG D JUHDW PXOWLWXGH RI \RX 'LG \RX QRW KDYH DQ\XQGHUVWDQGLQJ"

7KLVLVKHOOZLWKZKLFK\RXZHUHWKUHDWHQHG

6XIIHUWKHUHLQRQWKLVGD\IRU\RXUGLVEHOLHI

:H VKDOOVHDO\RXUPRXWKVRQWKDW'D\OHW\RXUKDQGVVS HD NWRXVDQG\RXUIHHWWHVWLI\WRZKDW\RXKDGDFKLHYHG



41/198


:H FRXOG KDYH EOLQGHG WKHPKDG :HZDQWHG7KHQWKH\ZRXOGKDYHUDFHG DORQJ WR FURVV WKH %ULGJHEXWKRZFRXOGWKH\KDYHVHHQWKHLU

ZD\"

:H FRXOG KDYH WXUQHG WKHP LQWRRWKHUFUHDWXUHVRQWKHVSRW KDG:HZDQWHGDQGWKH\ZRXOGQRWKDYHEHHQDEOHWRSUHFHGHRUWXUQEDFN

7KH SK\VLFDO JURZWK RI WKRVH ZKRP :H JUDQW D ORQJ OLIHZLOOEHUHYHUVHG:LOO\RXWKHQQRWXQGHUVWDQG"

:H GLGQRWWHDFKKLP0X~DPPDGSRHWU\QRUZDVKHVXSSRVHGWREHDSRHW,WLVRQO\WKHZRUGRI*RGDQGWKHLOOXVWULRXV4XUnyQ

E\ ZKLFK KHPD\ZDUQWKRVHZKRDUHOLYLQJDQGPD\OHWWKHZRUGVRI*RGFRPHWUXHDJDLQVWWKHXQEHOLHYHUV

+DYH WKH\QRWVHHQZKDW :HKDYHFUHDWHGIURPWKHODERXURI2XURZQKDQGV":HKDYHJLYHQWKH PFDWWOH

:H KDYHPDGHWKHFDWWOHVXEVHUYLHQWWRWKHPVRWKH\ULGHDQGFRQVXPHWKHP

)URP FDWWOH WKH\ JHW PLONDQGRWKHUEHQHILWV:LOOWKH\QRWWKHQJLYHWKDQNV"

7KH\FKRVHLGROVEHVLGHV*RGLQWKHKRSHRIUHFHLYLQJKHOSIURPWKHPEXWWKH\ZLOOQRWE HDEOHWRKHOSWKHP

,QVWHDG WKH GLVEHOLHYHUV ZLOO EHEURXJKWLQWRWKHSUHVHQFHRI*RGDVWKHVROGLHUVRIWKHLGROV

0X~DPPDG OHW QRW WKHLU ZRUGV DQQR\ \RX :H FHUWDLQO\ NQRZZKDWHYHUWKH\FRQFHDORUUHYHDO

+DV WKHKXPDQEHLQJQRWFRQVLGHUHGWKD W:HKDYHFUHDWHGKLPIURPDGURSRIIOXLG+HLVRSHQO\TXDUUHOVRPH

+H TXHVWLRQV 2XU 5HVXUUHFWLRQ RI KLP EXW KDV IRUJRWWHQ KLVRZQFUHDWLRQ +H KDV VDLG o:KR ZLOO JLYH OLIHWRWKHERQHVZKLFKKDYH

EHFRPHDVKHV"p

0X~DPPDG WHOO KLP +HZKRJDYHWK HPOLIHLQWKHILUVWSODFHZLOOEULQJ WKHP EDFN WR OLIH DJDLQ +H KDV WKH EHVW NQRZOHGJH RI DOO

FUHDWXUHV

+H KDV FUHDWHG ILUH IRU\RXRXWRIWKHJUHHQWUHHIURPZKLFK\RXFDQNLQGOHRWKHUILUHV



42/198


,V WKH2QHZKRKDVFUHDWHGWKHKHDYHQVDQGWKHHDUWKQRWD EO HWRFUHDWHDQRWKHU FUHDWXUH OLNH WKHKXPDQEHLQJ"+HFHUWDLQO\KDVWKHSRZHUWR

GRVR+HLVWKH6XSUHPH&UHDWRUDQG LV$OONQRZLQJ

:KHQHYHU +HGHFLGHVWRFUHDWHVRPHWKLQJ+HKDVRQO\WRVD\o([LVWpDQGLWFRPHVLQWRH[LVWHQFH

$OO JORU\ EHORQJV W R WKH 2QH LQ ZKRVH KDQGV LV WKHFRQWURORIDOOWKLQJV7R+LP\RXZLOODOOUHWXUQ

6{UDKDV6yIIDW

M M1NN O

O M[ O

[ M M OM

M



43/198


[ [ [

[ M

[ MM [

[ [M[[MW

[ MM M[

M[M N



44/198


[M [ M MM [O [M

[M O [ [ [[

M [O M

[ N O [

[



45/198


[ M [ [M[ [ [[ O [ [

[M[[ [ M[MM

[M [ [ [ [M[ M

[ MM[ [



46/198


[ [ [ [ [ M [M

[[ M M N [[M M

[ M M [[ M

O 0 [OM [



47/198


,QWKH1DPHRI$OOyKWKH%HQHILFHQWWKH0HUFLIXO

,VZHDUE\WKHDQJHOVZKRVWDQGLQUDQNV

E\WKRVHZKRGULYHDZD\WKHGHYLOWRSURWHFW 2XUUHYHODWLRQ

DQGWKRVHZKRUHFLWH2XUUHYHODWLRQV

WKDW\RXU/RUGLVWKHRQO\/RUG

+H LV WKH /RUG RI WKH KHDYHQV DQG WKHHDUWKDQGDOOWKDWLVEHWZHHQWKHPWKH/RUGRIWKH (DVWHUQUHJLRQV

:HKDYHGHFNHGWKHORZHUKHDYHQVZLWKVWDUV

WRSURWHFWWKHPIURPWKHUHEHOOLRXV6DWDQ

7KH GHYLOV FDQQRWKHDUWKDWKLJKDERYH7KH\ZRXOGEHVWUXFNIURPDOOVLGHV

DQGGULYHQDZD\WRVXIIHUWKHQHFHVVDU\WRUPHQW

6RPH RIWKHPZKRVWHDOWKLO\VWHDOZRUGVIURPWKHKHDYHQVDUHSXUVXHG

E\DJOLVWHQLQJIODPH 0X~DPPDG DVN WKHP o+DYHWKH\SHRSOHEHHQFUHDWHG VWURQJHU

WKDQZKDW:HKDYHFUHDWHG"p:HKDYHFUHDWHGWKHPIURPPRLVWFOD\

0X~DPPDG \RX ZLOO EH VXUSULVHG WKDW WKH\ VWLOO PRFN *RGVUHYHODWLRQV

7KH\SD\QRDWWHQWLRQZKHQWKH\DUHUHPLQ GHG

DQGZKHQWKH\VHHDPLUDFOHWKH\PRFN

LW DQGVD\o,WLVRQO\SODLQPDJLFp

7KH\ VD\ o6KDOOZHEHEURXJKWWROLIHDJDLQDIWHUZHGLHDQGWXUQLQWRGXVWDQGERQHV"

:LOORXUIRUHIDWKHUVDOVREHEURXJKWWROLIHDJDLQ"p

6D\o


48/198


7KLVLVWKH'D\RI-XGJHPHQWLQZKLFK\ RXGLVEHOLHYHG

*RG ZLOO FRPPDQG WKH DQJHOV o*DWKHU WRJHWKHU WKH XQMXVWWKHLUVSRXVHVDQGZKDWWKH\KDGZRUVKLSSHG

EHVLGHV*RGDQGVKRZWKHPWKHZD\RIKHOO

6WRSWKHP7KH\PXVWEHTXHVWLRQHGp

7KH\ZLOOEHDVNHGo:K\GR\RXQRWKHOSHDFKRWKHU" p

,QIDFWRQWKDWGD\WKH\ZLOOEHVXEPLVVLYH

7KH\ZLOOWXUQWRHDFKRWKHUVD\LQJo,WZDV\RXZKRWULHGWRPLVOHDGXVIURPULJKWHRXVQHVVp

2WKHUVZLOOUHVSRQGo,WZDV\RXZKRGLGQRWZDQWWRKDYHDQ\IDLWK

:HKDGQRDXWKRULW\RYHU\RX LQIDFW\RXZHUHDUHEHOOLRXVSHRSOH

7KXV WKH ZRUGVRI2XU/RUGDERXWXVKDYHFRPHWUXHDQGQRZZHDUHVXIIHULQJWKHWRUPHQW

:HPLVOHDG\RXDQGZHRXUVHOYHVKDGDOVRJRQHDVWUD\p

2QWKDWGD\WKH\ZLOODOOVKDUHWKHWRUPHQW

7KLVLVKRZ :HGHDOZLWKWKHFULP LQDOV

7KH\ ZHUH WKH RQHV ZKR RQEHLQJWROGo*RGLVRQO\2QHpEHFRPHSXIIHGXSZLWKSULGH

DQGVDLGo6KRXOGZHJLYHXSRXULGROVIRUWKHVDNHRIDQLQVDQHSRHWp

,Q IDFW KH KDG EURXJKW WKHP WKH WUXWK DQG KDG DFNQRZOHGJHGWKH

0HVVHQJHUVZKRZHUHVH QWEHIRUHKLP7KH\ZLOOEHWROGo


49/198


GHOLFLRXVWRWKRVHZKRGULQNLW

EXWQRWKDUPIXORULQWR[LFDWLQJ

7KH\ZLOOKDYHZLWKWKHPORYLQJZLYHVZLWKELJEODFN DQGZKLWHH\HV

ZKRDUHDVFKDVWHDVVKHOWHUHGHJJV

7KH\ZLOOWXUQWRHDFKRWKHUDQGDVNTXHVWLRQV

2QHRIWKHPZLOOVD\o,KDGDFRPSDQLRQZKRDVNHGPH

'R\RXEHOLHYHLQWKH'D\RI-XGJHPHQW"

6KDOO ZHEHUHFRPSHQVHGIRURXUGHHGVDIWHUZHGLH DQGEHFRPHERQHVDQGGXVW"

'R\RXZDQWWRVHHKLP"p

+HZLOOORRNGRZQDQGVHHKLPLQKHOO

+HZLOOVD\WRKLVIULHQGLQKHOOo%\*RG\RXDOPRVWGHVWUR\HGPH

+DG , QRW WKH JXLGDQFH RI P\ /RUG , ZRXOG FHUWDLQO\ KDYHEHHQ

EURXJKWLQWRWRUPHQWp+H ZLOO DVNKLVFRPSDQLRQo'LG\RXQRWVD\WKDWWKHUHZRXOGRQO\EH

RQHGHDWK

DQGWKDWZHZRXOGQRWEHSXQLVKHG"p

7KLVLVFHUWDLQO\WKHJUHDWHVWWULXPSK

IRUZKLFKRQHPXVWVWULYHKDUG

,VWKLVQRWDEHWWHUUHZDUGWKDQWKHWUHHRI=DTTXPZKLFK:HKDYHPDG HDVDWRUPHQWIRUWKHXQMXVW"

=DTTXPLVDWUHHZKLFKJURZVIURPWKHGHHSHVWSDUWRIKHOO

DQGLWVIUXLWVDUHOLNHWKHKHDGVRIGHYLOV

7KHGZHOOHUVRIKHOOZLOOHDWWKDWIUXLWDQGILOOXSWKHLUEHOOLHV

7KHQWKH\ZLOOKDYHRQWRSRILWDPL[WXUHRI ERLOLQJZDWHU

7KH\FDQRQO\UHWXUQWRKHOO

7KH\IRXQGWKHLUIDWKHUJRLQJDVWUD\

DQGUXVKHGWRIROORZWKHP



50/198


0RVWRIWKHDQFLHQWSHRSOHKDGDOVRJRQHDVWUD\

:HKDGFHUWDLQO\VHQWZDUQHUVWRWKHP

6HHKRZWHUULEOHZDVWKHHQGRIWKRVHZKRZHUHZDUQHG

2QO\2XUVLQFHUHVHUYDQWVZHUHVDYHG

1RDKFDOOHGIRUKHOS+RZEOHVVHGZDVWKHDQVZHUZKLFKKHUHFHLYHG

:HUHVFXHGKLPDQGKLVSHRSOHIURPWKHJUHDWHVWDIIOLFWLRQ

DQG:HPDGHKLVRIIVSULQJWKHRQO\VXUYLYRUV

:HSHUSHWXDWHGKLVSUDLVHLQODWHUJH QHUDWLRQV

3HDFHEHZLWK1RDKDPRQJDOOPHQLQWKHZRUOGV

7KXVGR:HUHZDUGWKHULJKWHRXVRQHV

+HZDVRQHRI 2XUEHOLHYLQJVHUYDQWV

:HGURZQHGDOOWKHRWKHUVEHVLGHV1RDKDQGKLVSHRSOH

$EUDKDPZDVRQHRIKLVIROORZHUV

+HWXUQHGWRKLV/RUGZL WKDVRXQGKHDUW

DQGDVNHGKLVIDWKHUDQGKLVSHRSOHo:KDWLVWKDW\RXZRUVKLS"

'R\RXZDQWWRZRUVKLSIDOVHLGROVDV\RXUORUGVEHVLGHV*RG"

:KDWGR\RXWKLQNDERXWWKH/RUGRIWKH8QLYHUVH"p

7KH SHRSOH LQYLWHG KLP WR DWWHQG WKHLU IHDVW7KHQKHORR NHGDWWKHVWDUV

DQGVDLGo,DPVLFNp

$OOWKHSHRSOHWXUQHGDZD\IURPKLP

DQGKHWXUQHGWRWKHLULGROVDQGDVNHGWKHPo'R\RXHDW"

:K\GR\RXQRWVSHDN"p

+HVWUXFNWKHPZLWKKLVULJKWKDQG

7KHUHXSRQWKHSHRSOHFDPHUXQQLQJWRKLP+HVDLG+RZ FDQ\RXZRUVKLSZKDW\RX\RXUVHOYHVKDYHFDUYHG

HYHQWKRXJK*RGFUHDWHGERWK\RXDQGWKDWZKLFK\RXKDYHPDGH"p



51/198


52/198


DQGSHUSHWXDWHGWKHLUSUDLVHLQODWHUJHQHUDWLRQV

3HDFHEHZLWK0RVHVDQG$DURQ 7KXVGR:HUHZDUGWKHULJKWHRXVRQHV

7KH\ZHUHWZRRI 2XUEHOLHYLQJVHUYDQWV

(OLDVZDVFHUWDLQO\D0HVVHQJHU

+HWROGKLVSHRSOHo:K\G R\RXQRWKDYHIHDURI*RG"

'R\RXZRUVKLS%DCDODQGDEDQGRQWKH%HVW&UHDWRU

ZKRLV\RXU/RUGDQGWKH/RUGRI\RXUIRUHIDWKHUV"p

7KH\FDOOHGKLPDOLDU7KXVDOORIWKHPZLOOVXIIHUWRUPHQW

H[FHSWWKHVLQFHUHVHUYDQWVRI*RG

:HSHUSHWXDWHGKLV SUDLVHLQWKHODWHUJHQHUDWLRQV

3HDFHEHZLWKWKHIROORZHUVRI(OLDV

,QWKLVZD\GR :HUHZDUGWKHULJKWHRXVRQHV

+HZDVRQHRI 2XUEHOLHYLQJVHUYDQWV

/RWZDVFHUWDLQO\D0HVVHQJHU

:HUHVFXHGKLPDQGKLVZKROHIDPLO\

H[FHSWIRUDQROGZRPDQ ZKRUHPDLQHGEHKLQG

7KHQ:HWRWDOO\GHVWUR\HGWKHRWKHUV


53/198


:HFDVWKLPRXWRIWKH ILVKXQWRGU\ODQGDQGKHZDVVLFN

:HPDGHDSODQWRIJRXUGJURZXSIRUKLP

:HVHQWKLPWRDKXQGUHGWKRXVDQGRUPRUHSHRSOH

7KH\ EHOLHYHG LQ KLP VR :H JUDQWHG WKHP HQMR\PHQW IRU DQDSSRLQWHGWLPH

0X~DPPDG DVN WKHP 'R GDXJKWHUV EHORQJ WR \RXU/RUGDQGVRQVWRWKHP"

+DYH:HFUHDWHGWKHDQJHOVDVIHPDOHVEHIRUHWKHLUYHU\H\HV" ,WLVRQO\EHFDXVHRIWKHLUIDOVHLQYHQWLRQWKDWWKH\VD\

*RGKDVEHJRWWHQDVRQ7KH\DUHFHUWDLQO\OLDUV

+DV+HFKRVHQGDXJKWHUVLQSUHIHUHQFHWRVRQV"

:RHWR\RX+RZWHUULEOHLV\RXU-XGJHPHQW

'R\RXQRWXQGHUVWDQG"

'R\RXKDYHFOHDUDXWKRULW\" %ULQJ\RXUERRNLIZKDW\RXVD\LVWUXH

7KH\KDYHVDLGWKDWWKHUHLVDUHODWLRQVKLSEHWZHHQ+LPDQGWKHMLQQ7KHMLQQFHUWDLQO\NQRZWKDWWKH\ZLOODO OEHEURXJKWWRVXIIHUWRUPHQW

*RGLVWRRJORULRXVWREHGHVFULEHGDVWKH\GHVFULEH+LP

H[FHSWWKHVHUYDQWVRI*RGVLQFHUHDQGGHYRWHG


54/198


7KH\ KDYH UH MHFWHG WKH 4XUnyQ 7KH\ ZLOO VRRQ NQRZ WKHFRQVHTXHQFHVRIWKHLUGLVEHOLHI

:HGHFUHHGWKDW2XU0HVVHQJHUVHUYDQWV

ZLOOFHUWDLQO\EHYLFWRULRXV

DQGWKDW2XUDUP\ZLOOEHWULXPSKDQW

0X~DPPDGVWD\DZD\IURPWKHPIRUDZKLOH

DQGZDWFKWKHP7KH\ WRRZLOOZDWFK

'RWKH\ZDQWWRVXIIHU 2XUWRUPHQWLPPHGLDWHO\" :KHQLWGHVFHQGVLQWRWKHLUFRXUW\DUGLWZLOOEHWHUULEOHIRUWKRVH

ZKRKDYHDOUHDG\EHHQZDUQHG

6WD\DZD\IURPWKHPIRUDZKLOH

DQGZDWFK7KH\WRRZLOOZDWFK


55/198


6{UDKDO$K]yE

M[ 1ZM M

M

[ MM[[

[ M Zy N



56/198


M M M M Z M NM M [[ Z

M M Z

N M Z

[{M



57/198


[O[ MMM [ M O M

M Z {

M [ ZM

[[[MZ[[



58/198


[[[ZM [ M M M

[ M

M M O M M O[

M Z NO{ [

ZM[ Z M [



59/198


M M M M

[

M N N M M O

M M [

M O M



60/198


M OM[MONM N M

[ M [ [ M M

M [ M M

Z M ZN M Z

M M



61/198


O [[[

0 ,QWKH1DPHRI$OOyKWKH%HQHILFHQWWKH0HUFLIXO

3URSKHW KDYH IHDU RI $OOyK DQG GR QRW \LHOG WR WKH LQILGHOV DQGK\SRFULWHV$OOyKLV$OONQRZLQJDQG $OOZLVH

)ROORZ ZKDW KDV EHHQ UHYHDOHG WR\RXIURP\RXU/RUG$OOyKLV $OODZDUHRIZKDW\RXGR

7UXVWLQ$OOyKDQGEHVXUHWKDW+HLVD6XIILFLHQW*XDUGLDQ

$OOyK KDV QRW FUHDWHG WZR KHDUWVLQVLGHDQ\RQHKXPDQEHLQJ$OOyKGRHV QRW FRQVLGHU \RXU ZLYHV ZKRP \RXUHQRXQFHE\]LKDUDV\RXUPRWKHUVQRUWKRVHZKRP\RXDGRSWDV\ RXUVRQV7KHVHDUHRQO\ZRUGVRI\RXUPRXWK*RGWHOOVWKH7UXWKDQGVKRZVWKHULJKWSDWK

&DOO WKHP VRQV RI WKHLU RZQ IDWKHUV ,W LV PRUH MXVWLQWKHH\HV RI$OOyK ,I \RX GR QRW NQRZ WKHLU IDWKHUVWKH\DUH\RXUEURWKHUVDQGIULHQGV LQ UHOLJLRQ


62/198


%HOLHYHUV UHFDOO $OOyKnIDYRUWR\RXZKHQWKHDUP\DWWDFNHG\RX:HVHQW D ZLQG DQG WKH DUPLHV ZKLFK \RXGLGQRWVHHWRVXSSRUW\RX

$OOyKVHHVDOOWKDW\RXGR

(\HV EHFDPH GXOO DQG KHDUWV DOPRVW UHDFKHG WKH WKURDWZKHQWKH\DWWDFNHG \RX IURP DERYH DQG EHORZDQG\RXVWDUWHGWRWKLQNRI*RGZLWKVXVSLFLRQ

7KHUHWKHEHOLHYHUVZHUHWHVWH GDQGWUHPHQGRXVO\VKDNHQ

,W ZDVWKHUHWKDWWKHK\SRFULWHVDQGWKRVHZKRVHKHDUWVZHUHVLFNVDLGo7KH SURPLVH RI $OOyK DQG +LV0HVVHQJHUKDVSURYHGWREHQRWKLQJ

EXWGHFHLWp,W ZDV WKHUH WKDW DJURXSRIWKHPVDLGo3HRSOHRI


63/198


OHIW DORQHDPRQJWKH%HGRXLQ $UDEVZKHUHWKH\ZRXOGRQO\IROORZWKHQHZVDERXW\RX(YHQLIWKH\ZHUHZLWK\RXRQO\DIHZRIWKHPZRXOG

WDNHSDUWLQWKHILJKW

7KH 0HVVHQJHU RI $OOyKLVFHUWDLQO\DJRRGH[DPSOHIRUWKRVHRI\RXZKR KDYH KRSH LQ $OOyK DQG LQ WKH 'D\ RI -XGJHPHQW DQG ZKRUHPHPEHU$OOyKYHU\RIWHQ

2Q VHHLQJ WKH FRQIHGHUDWH WULEHV WKH EHOLHYHUV VDLG o7KLVLVZKDW$OOyK DQG +LV0HVVHQJHUKDGSURPLVHGXV7KHSURPLVHRI$OOyKDQG+LV 0HVVHQJHU LV WUXHp 7KLV RQO\ VWUHQJWKHQV WKHLU IDLWKDQGWKHLUGHVLUHRIVXEPLVVLRQW RWKHZLOORI$OOyK

$PRQJ WKH EHOLHYHUVWKHUHDUHSHRSOHZKRDUHWUXHLQWKHLUSURPLVHWR$OOyK 6RPH RIWKHPKDYHDOUHDG\SDVVHGDZD\DQGVRPHRIWKHPDUHZDLWLQJ7KH\QHYHU\LHOGWRDQ\FKDQJH

$OOyK ZLOO FHUWDLQO\UHZDUGWKHWUXWKIXORQHVIRUWKHLUW UXWKIXOQHVVDQGSXQLVK RU SDUGRQ WKH K\SRFULWHVDV+HZLVKHV$OOyKLV $OOIRUJLYLQJDQG$OOPHUFLIXO

$OOyK UHSHOOHG WKH XQEHOLHYHUV LQ WKHLUUDJH7KH\FRXOGQRWDFKLHYH

DQ\WKLQJ JRRG $OOyK UHQGHUHG VXIILFLHQW VXSSRUWWRWKHEHOLHYHUVLQILJKWLQJ$OOy KLV$OOSRZHUIXODQG 0DMHVWLF

$OOyK EURXJKW GRZQ WKRVH DPRQJ WKH 3HRSOH RIWKH%RRNZKRKDGVXSSRUWHG WKH FRQIHGHUDWH WULEHV IURP WKHLU FDVWOHV DQGVWUXFNWKHLUKHDUWV ZLWK WHUURU


64/198


:LYHV RI WKH 3URSKHW\RXDUHQRWOLNHRWKHUZRPHQ,I\RXKDYHIHDURI *RG GR QRW EHWHQGHULQ\RX UVSHHFKOHVWSHRSOHZKRVHKHDUWVDUH

VLFNPD\OXVWDIWHU\RX

'R QRWGLVSOD\\RXUVHOYHVDIWHUWKHPDQQHURIWKHSUH,VODPLFDJHRIGDUNQHVV %H VWHDGIDVW LQ WKH SUD\HUSD\WKHUHOLJLRXVWD[DQGREH\$OOyK DQG+LV0HVVHQJHU 3HRSOHRIWKHKRXVH$OOyK ZDQWVWRUHPRYHDOONLQGVRIXQFOHDQOLQHVVIURP\RXDQGWRSXULI\\RXWKRURXJKO\

:LYHVRIWKH3URSKHWUHPHPEHUWKHUHYHODWLRQVRI$OOyKDQG:RUGVRIZLVGRP WKDW DUH UHFLWHG LQ \RXUKRPHV$OOyKLV 0RVW.LQGDQG$OODZDUH

$OOyK KDV SURPLVHGIRUJLYHQHVV DQGJUHDWUHZDUGVWRWKH0XVOLPPHQDQG WKH 0XVOLPZRPHQWKHEHOLHYLQJPHQDQGWKHEHOLHYLQJZRPHQWKH REHGLHQW PHQ DQG WKH REHGLHQWZRPHQWKHWUXWKIXOPHQDQGWKHWUXWKIXO ZRPHQ WKH IRUEHDULQJ PHQ DQG WKHIRUEHDULQJZRPHQWKHKXPEOH PHQ DQG WKH KXPE OH ZRPHQ WKH DOPVJLYLQJPHQDQGWKHDOPVJLYLQJZRPHQWKHIDVWLQJPHQDQGWKHIDVWLQJZRPHQWKHFKDVWHPHQ DQG WKH FKDVWH ZRPHQDQGWKHPHQDQGZRPHQZKRUHPHPEHU$OOyKYHU\RIWHQ

7KH EHOLHYLQJ PHQ DQG ZRPHQPXVWQRWIHHOIUHHWRGRVRPHWKLQJLQWKHLU DIIDLUV RWKHU WKDQ WKDWZKLFKKDVEHHQDOUHDG\GHFLGHGIRUWKHP

E\ $OOyK DQG +LV 0HVVHQJHU 2QH ZKR GLVREH\V $OOyK DQG +LV0HVVHQJHULVLQSODLQHUURU

6D\ WR WKH SHUVRQWRZKRP\RXDQG$OOyKKDYHJUDQWHGIDYRUo.HHS\RXU ZLIHDQGKDYHIHDURI$OOyK< RXKLGHZLWKLQ\RXUVHOIZKDW$OOyKZDQWV WR PDNHSXEOLF


65/198


0X~DPPDG LV QRW WKH IDWKHU RI DQ\ RI \RXU PDOHV +H LV WKH0HVVHQJHU RI $OOyK DQGWKHODVW3URSK HW$OOyKKDVWKHNQRZOHGJHRI

DOOWKLQJV

%HOLHYHUVUHPHPEHU$OOyKYHU\RIWHQ

DQGJORULI\+LPERWKLQWKHPRUQLQJVDQGLQWKHHYHQLQJV

,W LV +H ZKRIRUJLYHV\RXDQG+LVDQJHOVSUD\IRU\RXVRWKDW+HZLOOWDNH \RX RXW RI GDUNQHVV LQWR OLJKW $OOyK LV $OOPHUFLIXO WR WKH

EHOLHYHUV

2Q WKH GD\ZKHQWKH\ZLOOEHEURXJKWLQWRWKHSUHVHQFHRIWKHLU/RUGWKHLU JUHHWLQJ WR HDFK RWKHU ZLOO EH3HDFHEHZLWK\RX$OOyKKDV

SUHSDUHGDQKRQRUDEOHUHZDUGIRUWKHP

3URSKHW :H KDYH VHQW \RX DV D ZLWQHVV D EHDU HU RIJODGQHZVDZDUQHU

D SUHDFKHUIRU$OOyKE\+LVSHUPLVVLRQDQGDVDVKLQLQJWRUFK

*LYH JODG QHZV WR WKH EHOLHYHUV RI WKHLUUHFHLYLQJJUHDWIDYRUIURP$OOyK

'R QRW \LHOG WR WKH GLVEHOLHYHUV RU WKH K\SRFULWHV ,JQRUH WKHLUDQQR\LQJ\RX7UXVWLQ$O OyK$OOyKLV\RXU DOO6XIILFLHQW 3URWHFWRU

%HOLHYHUVLI\RXPDUU\EHOLHYLQJZRPHQDQGWKHQGLYRUFHWKHPEHIRUHWKH FRQVXPPDWLRQ RI WKH PDUULDJH WKH\ GRQRWKDYHWRREVHUYHWKHZDLWLQJ SHULRG *LYH WKHP WKHLU SURYLVLRQV DQG VHW WKHPIUHHLQDQKRQRUDEOHPDQQHU

3URSKHW :H KDYH PDGH ODZIXO IRU \RX\RXUZLYHVZKRP\RXKDYH

JLYHQ WKHLU GRZU\ VODYH JLUOV ZKRP$OOyKKDVJLYHQWR\RXDVJLIWVWKH GDXJKWHUV RI \RXU XQFOHV DQG DXQWVERWKSDWHUQDODQGPDWHUQDOZKR KDYH PLJUDWHG ZLWK\RX7KHEHOLHYLQJZRPDQ ZKRKDVRIIHUHGKHUVHOI WRWKH3URSKHWDQGZKRPWKH3URSKHWPD\ZDQWWRPDUU\ZLOO

EH HVSHFLDOO\ IRUKLPQRWIRURWKHUEHOLHYHUV:HNQHZZKDWWRPDNHREOLJDWRU\ IRU WKHPFRQFHUQLQJWKHLUZLYHVDQGVODYHJLUOVVRWKDW\RXZRXOGIDFHQRKDUGVKLSEHFDX VHZHKDYHJLYHQGLVWLQFWLRQWR\RXRYHUWKHEHOLHYHUV$OOyKLV $OOIRUJLYLQJ DQG$OOPHUFLIXO


66/198


EXW VKRXOG EH KDSS\ ZLWK ZKDWHYHU \RXKDYHJLYHQWRHYHU\RQHRIWKHP $OOyK NQRZV ZKDW LVLQ\RXUKHDUWV$OOyKLV$OONQRZLQJDQG

$OOIRUEHDULQJ

%HVLGHV WKHVH RWKHU ZRPHQ DUH QRWODZIXOIRU\RXWRPDUU\QRULVLWODZIXO IRU \RXWRH[FKDQJH\RXUZLYHVIRUWKHZLYHVRIRWKHUVH[FHSWIRUWKHVODYHJLUOVHYHQWKRXJKWKH\PD\VHHPDWWUDFWLYHWR\RX$OOyKLVZDWFKIXORYHUDOOWKLQJV

%HOLHYHUV GR QRW HQWHU WKH KRXVHVRIWKH3URSKHWIRUDPHDOZLWKRXWSHUPLVVLRQ LI \RXDUHLQYLWHG\RXPD\HQWHUEXWEHSXQFWXDOVRWKDW\RX ZLOO QRWEHZDLWLQJZKLOHWKHPHDOLVEHLQJSUHSDUHG:KHQ\RXKDYH ILQLVKHG HDWLQJ OHDYH KLV KRPH 'R QRW VLW DURXQG FKDWW LQJDPRQJ \RXUVHOYHV 7KLV ZLOO DQQR\ WKH 3URSKHW EXW KH ZLOO IHHOHPEDUUDVVHGWRWHOO\RX$OOyKGRHVQRWIHHOHPEDUUDVVHGWRWHOO\RXWKHWUXWK:KHQ\RXZDQWWRDVNVRPHWKLQJIURPWKHZLYHVRIWKH3URSKHWDVN WKHP IURPEHKLQGWKHFXUWDLQ7KLVZRXOGE HPRUHSURSHUIRU\RXDQG IRU WKHP


67/198


,I WKHK\SRFULWHVWKRVHZKRVHKHDUWVDUHVLFNDQGWKRVHZKRHQFRXUDJHWKH VSUHDG RI HYLO LQ WKH FLW\ ZLOO QRW GHVLVW:HVKDOODURXVH\RX

DJDLQVW WKHPDQGWKH\ZLOORQO\EHDOORZHGWREH\RXUQHLJKERXUVIRUDVKRUWZKLOH

7KH\ ZLOOEHFRQGHPQHGZKHUHYHUWKH\DUHDQGZLOOEHVL]HGDQGGRQHDZD\ZLWKIRUJRRG

7KLV ZDVWKHWUDGLWLR QRI$OOyKZLWKWKRVHZKROLYHGEHIRUH7KHUHZLOOQHYHUEHDQ\FKDQJHLQWKHWUDGLWLRQRI$OOyK

0X~DPPDG SHRSOHDVN\RXDERXWWKH'D\RI-XGJPHQW6D\o2QO\

$OOyK KDV NQRZOHGJH DERXW LW 3HUKDSVWKH+RXURI'RRPZLOOVRRQFRPHWRSDVVp

$OOyK KDVFR QGHPQHGWKHXQEHOLHYHUVDQGSUHSDUHGIRUWKHPDEXUQLQJWRUPHQW

ZKHUHLQ WKH\ ZLOOOLYHIRUHYHUZLWKRXWEHLQJDEOHWRILQGDQ\JXDUGLDQRUKHOSHU

2Q WKH GD\ ZKHQ WKHLU IDFHV ZLOOEHWXUQHGIURPVLGHWRVLGHRQWKH

ILUH WKH\ ZLOO VD\ o:RXOG WKDW ZH KDG REH\HG $OOyK DQG WKH0HVVHQJHUp

7KH\ZLOOVD\o/RUGZHREH\HGRXUFKLHIVDQGHOGHUVDQGWKH\FDXVHGXVWRJRDVWUD\

/RUG PDNH WKHP WR VXIIHU GRXEOH WRUPHQW DQG VXEMHFWWKHPWRWKHJUHDWHVWFRQGHPQDWLRQp

%HOLHYHUV GRQRWEHOLNHWKRVHZKRDQQR\HG0R VHV$OOyKSURYHGKLPWR EH LQQRFHQW RI ZKDW WKH\ KDG VDLG DERXW KLP 0RVHV ZDV D

KRQRUDEOHSHUVRQLQWKHVLJKWRI$OOyK

%HOLHYHUV KDYHIHDURI$OOyKDQGVSHDNULJKWHRXVZRUGV

$OOyK ZLOO UHIRUP \RXU GHHGV DQGIRUJLYH\RXUVLQV2QHZKRREH\V$OOyKDQG+LV0HVVHQJHUZLOOFHUWDLQO\DFKLHYHDJUHDWVXFFHVV

:H RIIHUHG 2XU 7UXVW 2XU GHSXWDWLRQ WRWKHKHDYHQVWRWKHHDUWKDQG WR WKH PRXQWDLQV EXW WKH\ FRXOGQRWEHDUWKLVEXUGHQDQGZHUHDIUDLG WR DFFHSW LW 0DQNLQG ZDVDEOHWRDFFHSWWKLVRIIHUEXWK HZDV

XQMXVWWRKLPVHOIDQGLJQRUDQWRIWKHVLJQLILFDQFHRIWKLV7UXVW$V D UHVXOW RI WKLV$OOyKZLOOSXQLVKWKHK\SRFULWHVDQGWKHSDJDQV

EXW +H ZLOO DFFHSW WKH UHSHQWDQFH RI WKH EHOLHYHUV $OOyK LV $OOIRUJLYLQJDQG$OOPHUFLIXO



68/198


\yWDO.XUVz

M 1 M M M

M MN M N M

0 $OOyK WKHUH LV QR*RGEXW+HWKH(YHUODVWLQJDQGWKH*XDUGLDQRI

OLIH 'URZVLQHVV RU VOHHSGRQRWVHL]HKLP7R+LPEHORQJVDOOWKDWLVLQWKHKHDYHQVDQGWKHHDUWK1RRQHFDQ LQWHUFHGHZLWK+LPIRURWKHUVH[FHSW E\ +LV SHUPLVVLRQ+HNQRZVDERXWSHRSOHVSUHVHQWDQGSDVW

1R RQH FDQ JUDVSDQ\WKLQJIURP+LVNQRZOHGJHEHVLGHVZKDW+HKDVSHUPLWWHG WKHP WR JUDVS 7KH KHDYHQV DQG WKH HDUWKDUHXQGHU+LVGRPLQLRQ +HGRHVQRWH[SHUL HQFHIDWLJXHLQSUHVHUYLQJWKHPERWK+HLVWKH+LJKHVWDQGWKH*UHDWHVW

7KHUH LV QR FRPSXOVLRQ LQ UHOLJLRQ &HUWDLQO\ ULJKWKDVEHFRPHFOHDUO\ GLVWLQFWIURPZURQJ:KRHYHUUHMHFWVWKHGHYLODQGEHOLHYHVLQ$OOyKKDVILUPO\WDNHQKROGRIDVWURQJKDQGOH WKDWQHYHUEUHDNV $OOyKLV$OOKHDULQJDQGNQRZLQJ

$OOyK LV WKH *XDUGLDQRIWKHEHOLHYHUVDQGLWLV+HZKRWDNHVWKHPRXWRIGDUNQHVVLQWROLJKW7KH'HYLOLVWKHJXDUGLDQRIWKRVHZKRGHQ\

WKH 7UXWK DQG KH OHDGV WKHP IURP OLJKW WRGDUNQHVV7KHVHDUH WKHGZHOOHUVRIKHOOZKHUHLQWKH\ZLOOOLYHIRUHYHU



69/198


6{UDKDO$UyI $\DK

MM1 M

0 [N


70/198


DQG DOO WKDW\RXPD\FRQFHDO$OOyKZLOOIRUJLYHRUSXQLVKZKRPHYHU+HZDQWV$OOyKKDVSRZHURYHUDOOWKLQJV

7KH 0HVVHQJHUV DQG WKHEHOLHYHUVKDYHIDLWKLQZKDWZDVUHYHDOHGWR WKHP IURP WKHLU /RUG (YHU\RQH RI WKHP EHOLHYHGLQ$OOyK+LV$QJHOV +LV %RRNV DQG +LV 0HVVHQJHUV VD\LQJ :H ILQG QRGLIIHUHQFH DPRQJWKH0HVVH QJHUVRI$OOyK7KH\DOVRKDYHVDLG:HKHDUG $OOyKnV FRPPDQGV DQG REH\HG WKHP /RUG ZH QHHG


71/198


IDPLO\ YLVLWHGRQHRIWKHGHVFHQGDQWVRIm$EGDO0XDOLEZKRZDVRQ KLV GHDWKEHG DQGZDVQRWIDFLQJWKH4LEODK+H3HDFHEHXSRQKLP DQG KLV IDPLO\VDLGm0DNHWKLVPDQIDFHWRZDUGVWKH4LEODKEHFDXVH LI \RX GR WKLV WKHQ WKH $QJHOV ZLOO WXUQWKHLUDWWHQWLRQWRZDUGV KLP DQG$OOyK, WRRZLOOWXUQ+LVDWWHQWLRQWRKLPXQWLOKHOHDYHVWKLVZRUOGnp7KDZyEDO$mPyO3DJH

7KH5HZDUGIRU5HFLWLQJWKH6KDKyGDWWRWKH'\LQJ3HUVRQ

D OI

M M ,V~yT m$PPyU UHDOWLQJ IURP DVDGLT -DnIDU LEQ 0X~DPPDG3HDFH EH XSRQ KLP IURPKLVIDWKHUIURPKLVIRUHIDWKHU3HDFHEH

XSRQDOORIWKHPUHODWHVWKDWWKH0HVVHQJHURI$OOyK3HDFHEHXSRQKLPDQGKLVIDPLO\VDLGm$WWKHWLPHRIGHDWKRQHVKRXOGUHFLWH M WRWKHG\LQJSHUVRQVLQFHZKRHYHUnVODVWZRUGVDUH M ZLOOJRWR3DUDGLVHnp7KDZyEDO$mPyO3DJH



72/198


> 5XOHVWREH)ROORZHG$IWHU'HDWK@

5XOH,WLV0XVWD~DEWKDWDIWHUGHDWK

N 7KHH\HVDQGOLSVRIWKHGHFHDVHGDUHVKXWN 7KHPRXWKLVFORVHGN

7KHKDQGVDQGIHHWDUHVWUDLJKWHQHGN $FORWKVKRXOGEHVSUHDGRYHUWKHERG\)RU D SHUVRQ ZKR GLHV DW QLJKW LW LV0XVWD~DEWROLJKWWKHSODFHZKHUH KHVKH LVDQGWRLQIRUPWKHEHOLHYHUVWRMRLQWKHIXQHUDODQGWR KDVWHQ WKH EXULDO %XWLIWKH\DUHQRWVXUHRIKLVKHUGHDWKWKHQWKH\ VKRXOGZDLWWLOOWKH\DUHFHUWDLQ0RUHRYHULIWKHGHFHDVHGLVD

SUHJQDQW ZRPDQ DQG WKHUH LV DOLYLQJFKLOGLQKHUZRPEWKHQKHUEXULDO VKRXOGEHSRVWSRQHGXQWLOVXFKWLPHZKHQKHUOHIWVLGHFDQEHFXW RSHQ DQG WKH FKLOG FDQ EH WDNHQRXWDQGDIWHUZDUGVKHUVLGHVKRXOGEHVHZQXSDJDLQ



73/198


> 5XOHVRIWKH*KXVO.DIDQDOyWDQG'DIDQ @

5XOH *LYLQJWKH*KXVO.DIDQ+XQ{WDOyWDQGEXULDOWRHYHU\GHDG 0XVOLP UHJDUGOHVV RI ZKHWKHU KHVKHLVDQ,W~Qym$VKHUzRUQRW LV :yMLE RQWKHJXDUGLDQ7KHJXDUGLDQPXVWHLWKHUGLVFKDUJHDOO WKHVH GXWLHV KLPVHOI RU DSSRLQW VRPHRQH HOVH WRGRWKHP,QDGGLWLRQ LI DQ\RQH SHUIRUPV WKHVH GXWLHV ZLWK RU ZLWKRXW WKH

SHUPLVVLRQ RIWKHJXDUGLDQWKHQWKHJXDUGLDQZLOOEHUHOLHYHGRIKLVUHVSRQVLELOLW\

,I WKH GHFHDVHG KDV QR JXDUGLDQ RU LI WKH JXDUGLDQ UHIXVHV WRGLVFKDUJH KLV GXWLHV WKHQ WKHVH GXWLHV ZLOO EH REOLJDWRU\ XSRQHYHU\RQH HTXDOO\ DV :yMLEH.LIynz ZKLFKPHDQVWKDWLIHYHQRQHSHUVRQ XQGHUWDNHV WRIXOILOWKHREOLJDWLRQRWKHUVZLOOEHUHOLHYHGRIWKHUHVSRQVLELOLW\KRZHYHULIQRRQHXQGHUWDNHVWRGRVRDOOZLOOEH

HTXDOO\ VLQIXO,QDGGLWLRQZKHQDJXDUGLDQUHIXVHVWRGLVFKDUJHKLVGXW\WKHQVHHNLQJKLVSHUPLVVLRQKDVQRPHDQLQJ

5XOH ,I DSHUVRQXQGHUWDNHVWRIXOILOWKHREOLJDWLRQVWRWKHGHDGERG\ WKHQ LW LV QRW REOLJDWRU\ RQ RWKHUVWRSURFHHGIRUWKHVDPH+RZHYHU LIWKDWSHUVRQOHDYHVWKHZRUNKDOIGRQHWKHQRWKHUVPXVWFRPSOHWHLW

5XOH ,I D SHUVRQ LV FHUWDLQ WKDW RWKHUV DUH IXOILOOLQJ WKHLUREOLJDWLRQV SURSHUO\ WKHQ LW LVQRWREOLJDWRU\XSRQKLPWRSURFHHGIRU WKHSXUSRVH+RZHYHULIKHLVLQGRXEWRUKDVVXVSLFLRQWKHQKHVKRXOGWDNHWKHQHFHVVDU\VWHSV

5XOH ,IDSHUVRQLVFHUWDLQWKDWWKH*KXVO.DIDQDOyWRUEXULDORI D GHDG ERG\ KDYH QRW EHHQ SHUIRUPHGFRUUHFWO\WKHQKHPXVW

SURFHHG WR GR WKHP DJDLQSURSHUO\%XWLIKHIHHOVWKDWPD\EHWKHGXWLHV ZHUHLQFRUUHFWO\GLVFKDUJHGRULIKHKDVDPHUHGRXEWWKHQLWLVQRWREOLJDWRU\WRXQGHUWDNHWKHZRUN



74/198


5XOH 7KHJXDUGLDQRIDZLIHLVKHUKXVEDQGDQGLQRWKHUFDVHVPHQ ZKR LQKHULW IURP WKH GHFHDVHG DFFRUGLQJ WR WKH FDWHJRULHVZKLFKZLOOEHH[SODLQHGODWHUZLOOWDNHSUHFHGHQFHRYHUHDFKRWKHU+RZHYHU WR VD\ WKDW WKH IDWKHU RIWKHGHFHDVHGWDNHVSUHFHGHQFHRYHU WKHVRQWKHJUDQGIDWKHURYHUWKHEURWKHUVRUIXOOEURWKHUVRYHUKDOIEURWKHUV RU WKH SDWHUQDO XQFOHV RYHU WKH PDWHUQDOXQFOHVLVDSRQGHUDEOH LVVXH DQG RQH VKRXOG DFWZLWKFDXWLRQDVWKHVLWXDWLRQGHPDQGV

5XOH $ PLQRU RU DQ LQVDQH SHUVRQ GRHV QRW TXDOLI\ IRUJXDUGLDQVKLSLQPDWWHUVUHODWLQJWRWKHGHFHDVHGVLPLODUO\DQDEVHQWSHUVRQ ZKR FDQ QHLWKHU DWWHQG WR WKH GXWLHV KLPVHOIQRUDSSRLQWVRPHRQHWRGRWKHPKDVQRDXWKRULW\DVDJXDUGLDQ

5XOH ,I D SHUVRQFODLPVWKDWKHLVWKHJXDUGLDQRIWKHGHFHDVHGSHUVRQ RU WKDW WKH JXDUGLDQ RI WKH GHFHDVHG KDV JLYHQ KLPSHUPLVVLRQ WR FDUU\RXWKLV*KXVO.DIDQDQG'DIDQRULIKHFODLPV

WKDW KHLVWKHDSSRLQWHGH[HFXWRURIWKHGHFHDVHGLQWKHPDWWHURIWKHILQDO ULWXDOV WKHQ KLV FODLP ZLOO EH DFFHSWHG SURYLGHGWKDWKHLVUHOLDEOH RU WKDW WKH FRUSVH LV LQ KLV SRVVHVVLRQRUWKDWWZRmGLOSHRSOHWHVWLI\WRKLVVWDWHPHQW

5XOH ,I WKH GHFHDVHGSHUVRQDSSRLQWHGVRPHRQHRWKHUWKDQKLVJXDUGLDQWRFDUU\RXWKLV*KXVO.DIDQ'DIDQDQGDOyWWKHQKHZLOO

EH WKH ULJKWIXOSHUVRQWRIXOILOWKHVHREOLJDWLRQV,WLVQRWQHFHVVDU\WKDW WKH SHUVRQ ZKR WKH GHFHDVHG KDG DSSRLQWHGWRFDUU\RXWWKHGXWLHV SHUVRQDOO\ VKRXOGDFFHSWWKH:LOO+RZHYHULIKHDFFHSWVLWWKHQKHPXVWDFWDFFRUGLQJO\

7KH5HZDUGRI*LYLQJ*KXVOWRD'HFHDVHG0XVOLP



75/198

0HWKRGRI*KXVOIRUWKH'HFHDVHG

D MMM M ,WLVUHODWHGIURP6DnGLEQDO,VNyIWKDW$Ez-DnIDU3HDFHEHXSRQKLP VDLGo7KHUHLVQRWDVLQJOHEHOLHYHUZKRJLYHVDQRWKHUEHOLHYHUWKH JKXVO DIWHU KLV GHDWK DQG ZKLOH VKLIWLQJWKHERG\VD\Vo2n$OOyK WKLV LV WKH ERG\RI\RXUEHOLHYLQJVODYH


76/198




77/198


> 0HWKRGRI*KXVOIRUWKH'HFHDVHG@5XOH,WLV:yMLEWRJLYHWKUHH*KXVOVWRWKHGHDGERG\

N 7KH ILUVW EDWKLQJ PXVW EH ZLWK ZDWHU PL[HG ZLWK 6LGUORWXVOHDYHV

N 7KH VHFRQG EDWKLQJ PXVW EH ZLWK ZDWHU PL[HG ZLWK&DPSKRU

N 7KHWKLUGPXVWEHZLWKSXUHZDWHU5XOH 7KHTXDQWLW\RIm6LGUnOHDYHVDQG&DPSKRUPXVWQRWEHVRPXFK WKDW WKH ZDWHU EHFRPHV PL[HG0X|KyIQRUVROLWWOHWKDWLWPD\ EH VDLG WKDW WKH m6LGUn OHDYHV DQG &DPSKRU KDYH QRWEHHQ

PL[HGLQLWDWDOO

5XOH ,I HQRXJK TXDQWLW\ RI m6LGUn OHDYHVDQG&DPSKRULVQRWDYDLODEOH WKHQ ZKDWHYHU TXDQWLW\ LVDYDLODEOHPXVWEHPL[HGZLWKWKHZDWHU

5XOH ,I D SHUVRQGLHVZKLOHKHLVLQWKHVWDWHRI,~UyPWKHQKLVGHDG ERG\ PXVW QRW EH ZDVKHG ZLWKZDWHUPL[HGZLWK&DPSKRU,QVWHDG RIWKDWSXUHXQPL[HGZDWHUPXVWEHXVHG+RZHYHULQWKHIROORZLQJWZRVLWXDWLRQVZDWHUZLWK&DPSKRUPXVWEHXVHG

,IKHRUVKHGLHVLQDMM7DPDWWXDIWHUFRPSOHWLQJ6Dnz ,I LW LV DMM 4LUyQRU,IUyGDQGKHGLHGDIWHUKDYLQJVKDYHGWKHKHDG

5XOH,Im6LGUnOHDYHVDQG&DPSKRURUHLWKHURIWKHVHWKLQJVLVQRWDYDLODEOH RU LWV XVH LV QRWODZIXOHJLILWKDVEHHQXVXUSHGWKHQWKH GHDGERG\PXVWEHJLYHQ*KXVORQWKHEDVLVRISUHFDXWLRQZLWK



78/198


SXUH XQPL[HGZDWHUDQGLQVWHDGRIWKH*KXVOZKLFKLVQRWSRVVLEOHLWPXVWDOVREHJLYHQRQH7D\DPPXP

5XOH $ SHUVRQ ZKR JLYHV *KXVO WR WKHGHDGERG\PXVWEHD0XVOLP SUHIHUDEO\ D 6KzmD ,W~QymVKHUz DGXOW VDQH DQG PXVWNQRZWKHUXOHVRIWKH*KXVO,IDQLQWHOOLJHQWGLVFHUQLQJER\RUJLUOZKR LV QRW \HW EyOLJK JLYHV WKH *KXVO FRUUHFWO\ WKHQLWZLOOEHVXIILFLHQW ,I WKH GHFHDVHG EHORQJV WR D VHFW RWKHUWKDQWKH6KzmD,W~Qym$VKHUz DQG LI KH RU VKH LV JLYHQ*KXVODFFRUGLQJWRWKH

UXOHV RI KLV RU KHU VHFW E\ D SHUVRQ RIWKDWVHFWWKHQWKH6KzmD,W~Qym$VKHUz EHOLHYHU ZLOO EHUHOLHYHGRIWKHUHVSRQVLELOLW\H[FHSWLIKHLVWKHJXDUGLDQ

5XOH 2QH ZKR JLYHV*KXVOWRWKHGHDGERG\PXVWSHUIRUPWKHDFW ZLWKWKHLQWHQWLRQRI4XUEDWWKDWLVLQREHGLHQFHWRWKHSOHDVXUHRI$OOyK,

5XOH ,WLVREOLJDWRU\WRJLYHD*KXVOWRD0XVOLPFKLOGHYHQRQHZKR LV LOOHJLWLPDWHO\ ERUQ %XWWKH*KXVO.DIDQDQG'DIDQRIDQRQ0XVOLP DQG KLVFKLOGUHQLVQRWDOORZHG,WLVDOVRQHFHVVDU\WRJLYH *KXVO WR D0XVOLPZKRKDVEHHQLQVDQHVLQFHFKLOGKRRGDQGKDVJURZQXSZLWKRXWKDYLQJUHFRYHUHG

5XOH ,I D IHWXV RI IRXU PRQWKV RUPRUHLVVWLOOERUQWKHQLWLV

REOLJDWRU\ WRJLYHLW*KXVODQGHYHQLILWKDVQRW\HWFRPSOHWHGIRXUPRQWKV EXWLWKDVIRUPHGWKHIHDWXUHVRIDKXPDQFKLOGWKHQLWPXVWEH JLYHQ *KXVO DV D SUHFDXWLRQ ,Q WKH HYHQW WKDWERWKRIWKHVHFLUFXPVWDQFHVDUHDEVHQWWKHIHWXVZLOOEHZUDSSHGXSLQD FORWKDQGEXULHGZLWKRXW*KXVO

5XOH,WLVXQODZIXOIRUDPDQWRJLYH*KXVOWRWKHGHDGERG\RIDZRPDQ DQG IRUDZRPDQWRJLYH*KXVOWRWKHGHDGERG\RIDPDQ

+XVEDQG DQGZLIHFDQKRZHYHUJLYH*KXVOWRWKHGHDGERG\RIHDFKRWKHU DOWKRXJK WKH UHFRPPHQGHG SUHFDXWLRQLVWKDWWKH\WRRPXVWDYRLGGRLQJVRLQQRUPDOFLUFXPVWDQFHV



79/198


5XOH$PDQFDQJLYHD*KXVOWRWKHGHDGERG\RIDOLWWOHJLUODQGVLPLODUO\DZRPDQFDQJLYHD*KXVOWRWKHGHDGERG\RIDOLWWOHER\

5XOH,IQRPDQLVDYDLODEOHWRJLYHWKH*KXVOWRWKHGHDGERG\RID PDQ WKHQ KLV NLQVZRPHQ ZKR DUH DOVR KLVPD~UDPRQHZLWKZKRP PDUULDJH LV SURKLELWHG HJ PRWKHU VLVWHU SDWHUQDO RUPDWHUQDO DXQW RUWKRVHZRPHQZKREHFDPHKLVPD~UDPE\ZD\RIPDUULDJH RU VXFNOLQJFDQJLYH*KXVOWRKLVGHDGERG\ 6LPLODUO\LIQR ZRPDQ LV DYDLODEOH WR JLYH WKH *KXVO WR WKH GHDGERG\RID

ZRPDQ WKHQ KHUNLQVPHQZKRDUHDOVRKHUPD~UDPRUKDGEHFRPHPD~UDP E\ PDUULDJHRUVXFNOLQJFDQJLYH*KXVOWRKHUGHDGERG\,Q HLWKHU FDVH LW LV QRW REOLJDWRU\ WR FRYHU WKH ERG\H[FHSWWKHSULYDWHSDUWVWKRXJKGRLQJVRLVUHFRPPHQGHG

5XOH ,I D PDQ JLYHVWKH*KXVOWRWKHGHDGERG\RIDPDQRUDZRPDQ WR WKHGHDGERG\RIDZRPDQWKHQLWLVSHUPLVVLEOHWRNHHSWKH ERG\ EDUH H[FHSW IRU WKH SULYDWHSDUWVKRZHYHULWLVEHWWHUWR

SHUIRUPWKH*KXVOXQGHUWKHFORWKLQJ

5XOH ,WLVDUyPWRORRNDWWKHSULYDWHSDUWVRIDFRUSVHDQGLIDSHUVRQ JLYLQJ*KXVOORRNVDWWKHPWKHQKHKDVFRPPLWWHGDVLQEXWWKH*KXVOZLOOQRWEHFRPHYRLG

5XOH 7KHSODQNRUVODERIVWRQHRQZKLFKWKHGHDGERG\LVJLYHQ

WKH *KXVO DQG WKH FORWK ZLWKZKLFKKLVSULYDWHSDUWVDUHFRYHUHGDQG WKH KDQGV RI WKH SHUVRQ ZKR JLYHV WKH *KXVODQGDOOWKLQJVZDVKHG DORQJ ZLWK WKHGHDGERG\EHFRPHyKLUZKHQWKH*KXVOLVILQLVKHG

5XOH ,IWKHUHLVD1DMyVDWRQDQ\SDUWRIWKHGHDGERG\WKHQLWLVREOLJDWRU\ WR UHPRYH LW ILUVW EHIRUH JLYLQJ WKH *KXVO $OVRDFFRUGLQJ WR,~WL\yW0XVWD~DEEHIRUHWKHFRUSVHLVJLYHQWKH*KXVO

LWPXVWEHFOHDQDQGIUHHIURPDOORWKHULPSXULWLHV

5XOH 7KH *KXVO IRU D GHDG ERG\ LV VLPLODU WRWKH*KXVOIRU-DQyEDK $QG WKHREOLJDWRU\SUHFDXWLRQLVWKDWDFRUSVHPXVWQRWEH



80/198


JLYHQ *KXVO E\,UWzPyVzWKDWLVLPPHUVLRQDVORQJDVLWLVSRVVLEOHWR JLYH *KXVO E\ ZD\ RI 7DUWzEz $QGHYHQLQWKHFDVHRI*KXVO7DUWzEz LWLVQHFHVVDU\WKDWWKHERG\EHZDVKHGRQWKHULJKWVLGHILUVWIROORZHG E\ WKHOHIWVLGH$QGWKHUHFRPPHQGHGSUHFDXWLRQLVWKDWLI SRVVLEOH QRQH RI WKHWKUHHSDUWVRIWKHERG\EHLPPHUVHGLQWKHZDWHUUDWKHUZDWHUPXVWEHSRXUHGRQ WKHGHDGERG\

5XOH ,IVRPHRQHGLHVLQWKHVWDWHRIDz|KRU-DQyEDKWKHQLWLVQRW QHFHVVDU\ WR JLYH KLP RU KHU WKHLUUHVSHFWLYH*KXVOVDQGWKH

*KXVOJLYHQIRUWKHGHDGERG\ZLOOVXIILFH

5XOH $V D SUHFDXWLRQLWLVDUyPWRFKDUJHDQ\IHHIRUJLYLQJWKH *KXVO WRWKHGHDG,IVRPHRQHJLYHV*KXVOZLWKDQLQWHQWLRQRIHDUQLQJ DQGZLWKRXWWKHLQWHQWLRQRIVHHNLQJQHDUQHVVWR$OOyKWKHQWKH *KXVOZLOOEHFRPHYRLG+RZHYHULWLVODZIXOWRFKDUJHIRUWKHSUHOLPLQDU\SUHSDUDWLRQVEHIRUHWKH*KXVO

5XOH 7KHUHLVQRUXOHIRU-DEzUDKLQWKH*KXVORIWKH0D\\LWVRLI ZDWHU LV XQDYDLODEOH RU WKHUH LV VRPH RWKHU YDOLG H[FXVH IRU

DEVWDLQLQJ IURPXVLQJZDWHUIRUWKH*KXVOWKHQWKHGHDGERG\PXVW

EH JLYHQ RQH 7D\DPPXP LQVWHDG RI *KXVO $VDUHFRPPHQGHG

SUHFDXWLRQ WKUHH 7D\DPPXP PXVW EH JLYHQ DQG LQ RQH RIWKH

7D\DPPXP WKHUH VKRXOG EH WKH LQWHQWLRQ RI 7KLV

PHDQV WKDW D SHUVRQ SHUIRUPLQJWKH7D\DPPXPUHVROYHVWKDWWKLV7D\DPPXPLVJLYHQWRDEVROYHKLPRIKLVUHVSRQVLELOLW\

5XOH $SHUVRQJLYLQJ7D\DPPXPWRWKHGHDGERG\PXVWVWULNHKLV RZQSDOPVRQWKHHDUWKDQGWKHQZLSHWKHPRQWKHIDFHDQGEDFNRI WKH KDQGVRIWKHGHDGERG\ 7KHREOLJDWRU\SUHFDXWLRQLVWKDWKHPXVWLISRVVLEOHXVHWKHKDQGVRIWKHGHFHDVHGIRU7D\DPPXP



81/198


> *KXVOIRU7RXFKLQJD'HDG%RG\ @5XOH ,I D SHUVRQ WRXFKHV WKH GHDG KXPDQ ERG\ ZKLFK KDV

EHFRPH FROG DQG KDVQRW\HWEHHQJLYHQ*KXVOLHEULQJVDQ\SDUWRIKLVRZQERG\LQFRQWDFWZLWKWKHGHFHDVHGWKHQKHPXVWSHUIRUPD *KXVO UHJDUGOHVVRIZKHWKHUKHWRXFKHGLWZKLOHDVOHHSRUDZDNH

YROXQWDULO\RURWKHUZLVH $*KXVOZLOODOVREHFRPH:yMLELIKLVQDLORU ERQHWRXFKHVWKHQDLORUERQHRIWKHGHDGERG\ +RZHYHU*KXVOLVQRWREOLJDWRU\LIRQHWRXFKHVDGHDGDQLPDO

5XOH ,IVRPHRQHWRXFKHVDGHDGERG\ZKLFKKDVQRW\HWEHFRPHHQWLUHO\ FROGWKHQ*KXVOZLOOQRWEH:yMLEHYHQLIWKHSDUWWKDWZDVWRXFKHGKDVEHFRPHFROG

5XOH ,I D SHUVRQ EULQJV KLV KDLULQFRQWDFWZLWKWKHERG\RIDGHFHDVHG RU LI KLV ERG\ WRXFKHVWKHKDLURIWKHGHFHDVHGRULIKLVKDLU WRXFKHV WKH KDLU RI WKHGHFHDVHGWKHQ*KXVOZLOOQRWEHFRPHREOLJDWRU\

5XOH,IVRPHRQHWRXFKHVDGHDGFKLOGRUDIHWXVLQZKLFKOLIHKDVHQWHUHG LQWR LW WKHQ WKH *KXVO IRU WRXFKLQJ LW ZLOO EHFRPH

REOLJDWRU\ +HQFH LI D VWLOOERUQ FKLOG ZKRVH ERG\KDVEHFRPHFROG FRPHVLQFRQWDFWZLWKWKHRXWHUSDUWRIWKHPRWKHUVERG\WKHQWKH PRWKHU PXVW SHUIRUP D *KXVO IRUWRXFKLQJWKHGHDGERG\,QIDFWDVDQREOLJDWRU\SUHFDXWLRQVKHPXVWSHUIRUP*KXVOHYHQLIWKHFKLOGGLGQRWWRXFKWKHRXWHUSDUWRIKHUERG\

5XOH $FKLOGZKRLVERUQDIWHULWVPRWKHUKDVGLHGDQGKHUERG\KDV EHFRPH FROG DQG LI LW WRXFKHV DQ\RXWHUSDUWRIWKHPRWKHUV

GHDG ERG\WKHQLWPXVWGR*KXVORQDWWDLQLQJWKHDJHRISXEHUW\,QIDFW LW PXVW SHUIRUP D*KXVOHYHQLILWGLGQRWWRXFKWKHPRWKHUVERG\DVDSUHFDXWLRQ



82/198

5XOHV5HJDUGLQJWKH.DIDQ

5XOH ,I D SHUVRQ WRXFKHVWKHGHDGERG\DIWHULWKDVEHHQJLYHQWKUHH REOLJDWRU\*KXVOVWKHQWKH*KXVOIRUWRXFKLQJWKHERG\LVQRW:yMLE +RZHYHULIKHWRXFKHVDQ\SDUWRIWKHGHDGERG\EHIRUHWKHFRPSOHWLRQ RI WKH WKUHH *KXVOV WKHQKHPXVWSHUIRUPD*KXVOIRUWRXFKLQJWKHGHDGERG\HYHQLIWKHWKLUG*KXVORIWKDWSDUWZKLFKKHKDVWRXFKHGPD\KDYHEHHQFRPSOHWHG

5XOH ,I DQ LQVDQHSHUVRQRUDPLQRUWRXFKHVDGHDGERG\WKHQWKH LQVDQH SHUVRQZRXOGSHUIRUPWKH*KXVOZKHQKHEHFRPHVVDQH

DQG VLPLODUO\ WKH PLQRU FKLOGZRXOGGR*KXVOZKHQKHDWWDLQVWKHDJHRISXEHUW\

5XOH ,IDSDUWRIWKHERG\LVVHSDUDWHGIURPDOLYLQJSHUVRQRUIURP D GHDG ERG\ ZKLFK KDVQRW\HWEHHQJLYHQWKH*KXVOVDQGDSHUVRQ WRXFKHVWKDWVHSDUDWHGSDUWWKHQRQHGRHVQRWKDYHWRGRDQ\*KXVOHYHQLIWKDWVHSDUDWHGSDUWFRQWDLQVERQHV

5XOH ,W LV QRW REOLJDWRU\ WR SHUIRUP D *KXVO IRUWRXFKLQJDVHSDUDWHG ERQH ZKLFK KDVQRW\HWEHHQJLYHQ*KXVOZKHWKHULWKDVEHHQ VHSDUDWHG IURPDGHDGERG\RUDOLYLQJSHUVRQ7KHVDPHUXOHDSSOLHV WR WRXFKLQJ WKH WHHWK ZKLFK KDYH EHHQVHSDUDWHGIURPDGHDGERG\RUDOLYLQJSHUVRQ

5XOH 7KHPHWKRGRISHUIRUPLQJWKH*KXVOIRUWRXFKLQJWKHGHDG

ERG\ LV WKH VDPH DV WKDW RI *KXVO IRU -DQyEDW +RZHYHUIRUDSHUVRQ ZKR KDV GRQH *KXVO IRU WRXFKLQJ D GHDG ERG\ WKHUHFRPPHQGHG SUHFDXWLRQLVWKDWKHPXVWDOVRSHUIRUP:X|KXZKHQKHKDVWRSUD\

5XOH 2QH *KXVO LV VXIILFLHQW IRU RQH ZKR WRXFKHV VHYHUDOFRUSVHVRUWRXFKHVWKHVDPHFRUSVHDQXPEHURIWLPHV

5XOH$SHUVRQZKRKDVQRW\HWSHUIRUPHGD*KXVODIWHUWRXFKLQJD GHDG ERG\ LV QRWSURKLELWHGIURPKDOWLQJRUSDXVLQJLQD0DVMLGIURP KDYLQJVH[XDOLQWHUFRXUVHZLWKKLVVSRXVHRUIURPUHFLWLQJWKHYHUVHV RI WKH +RO\ 4XUnyQ ZKLFK FRQWDLQ DQ REOLJDWRU\ 6DMGDK



83/198


+RZHYHU KHPXVWSHUIRUPD*KXVOIRURIIHULQJSUD\HUVRUIRURWKHUVLPLODUDFWVRIZRUVKLS



84/198


> 5XOHV5HJDUGLQJWKH.DIDQ@

5XOH 7KH ERG\ RI DGHDG0XVOLPPXVWEHJLYHQD.DIDQZLWKWKUHHSLHFHVRIFORWKDORLQFORWKDVKLUWRUWXQLFDQGDIXOOFRYHU

5XOH $V D SUHFDXWLRQ WKH ORLQ FORWK PXVWEHORQJHQRXJKWRFRYHU WKH ERG\ IURP WKH QDYHO WR WKH NQHHV DQGLWLVEHWWHULILW

FRYHUV WKH ERG\ IURP WKH FKHVW XS WR WKHIHHW7KH0Dn]DUORLQFORWKLVDSSUR[LPDWHO\p[pFP[FP

$V D SUHFDXWLRQ WKH FRYHULQJ VKHHWPXVWEHORQJHQRXJKWRFRYHUWKH HQWLUHERG\IURPWKHWRSRIWKHVKRXOGHUVXSWRWKHPLGGOHRIWKHFDOI DQG LW LV EHWWHUVWLOOLILWUHDFKHVGRZQWRWKHIHHW7KH4DPz}VKLUWLVDSSUR[LPDWHO\p[pFP[FP

$V DSUHFDXWLRQWKHFRYHULQJVKHHWPXVWEHORQJHQRXJKWRFRQFHDOWKH ZKROH ERG\ VR WKDW ERWK RI WKH HQGV FDQ EHWLHG,WVZLGWKVKRXOG EH HQRXJK WR DOORZ RQHVLGHWRRYHUODSWKHRWKHU7KH,]yUVKHHWFRYHULVDSSUR[LPDWHO\p[pFP[FP

7KHIROORZLQJSLHFHVDUHWKH0XVWD~DESDUWVRIWKH.DIDQ

)RUWKH0DOH $ SLHFH RI FORWKLQJ WR FRYHU WKH SULYDWHSDUWVZKLFK

PXVW EH ORQJ HQRXJK WR ZUDS RQWKHWZRWKLJKV7KHDSSUR[LPDWHVL]HLVp[pFP[FP

$Q m$PDPy 7XUEDQ WR EH SODFHG RQWKHKHDG7KHDSSUR[LPDWHVL]HLVp[pFP[FP

$ EHOW RI FORWK WR EHWLHGDURXQGWKHZDLVWWRKROGWKH

0Dn]DUORLQFORWKLQSODFH $ VHFRQG VKHHW FRYHU ZKLFK LVWKHVDPHDVWKH:yMLE

,]yUDQGLVXVHGWRVHFXUHWKHRWKHUSLHFHV



85/198


)RUWKH)HPDOH $ SLHFH RI FORWKLQJ WR FRYHU WKH SULYDWHSDUWVZKLFK

PXVW EH ORQJ HQRXJK WR ZUDS RQWKHWZRWKLJKV7KHDSSUR[LPDWHVL]HLVp[pFP[FP

$ SLHFH RI FORWKLQJ WR FRYHU WKH EUHDVWV 7KHDSSUR[LPDWHVL]HLVp[pFP[FP

$ SLHFH RIFORWKLQJWKDWFRYHUVWKHKHDGMXVWDVLVZRUQLQ DOyW 7KH DSSUR[LPDWH VL]H LV p [pFP[FP

$ EHOW RI FORWK WR EHWLHGDURXQGWKHZDLVWWRKROGWKH0Dn]DUORLQFORWKLQSODFH

$ VHFRQG VKHHW FRYHU ZKLFK LVWKHVDPHDVWKH:yMLE,]yUDQGLVXVHGWRVHFXUHWKHRWKHUSLHFHV

5XOH 7KH :yMLE SRUWLRQ RI WKHORLQFORWKLVWKDWZKLFKFRYHUV

IURP WKHQDYHOGRZQWRWKHNQHHVDQGWKH:yMLESRUWLRQRIWKHVKLUWLV WKDW ZKLFKFRYHUVWKHVKRXOGHUVGRZQWRWKHPLGGOHRIWKHFDOIRIWKH OHJV :KDWHYHU KDVEHHQPHQWLRQHGRYHUDQGDERYHWKLVLVWKH0XVWD~DESDUWRIWKH.DIDQ

5XOH 7KH :yMLE DPRXQWRI.DIDQPHQWLRQHGLQWKHDERYHUXOHVKRXOG EHILQDQFHGIURPWKHHVWDWHRIWKHGHFHDVHGDQGDUHDVRQDEOHDPRXQW WR FRYHU WKH0XVWD~DEPD\DOVREHFKDUJHGWRWKHHVWDWHLI

WKH VWDWXV RI WKH GHFHDVHG GHPDQGV %XW DV D UHFRPPHQGHGSUHFDXWLRQ WKH 0XVWD~DESDUWVRI.DIDQPXVWQRWEHFKDUJHGWRWKHVKDUHVRIWKHPLQRUKHLUV

5XOH ,IDSHUVRQPDNHVDZLOOWKDWWKH0XVWD~DETXDQWLW\RIWKH.DIDQ DV PHQWLRQHGLQWKHWZRIRUHJRLQJUXOHVVKRXOGEHSDLGIRUIURP WKH RI KLV HVWDWH RULIKHKDVPDGHDZLOOWKDWRIWKHHVWDWH VKRXOG EH VSHQW IRUKLPVHOIEXWKDVQRWVSHFLILHGWKHW\SHRILWV H[SHQGLWXUHRUKDVVSHFLILHGRQO\DSDUWRILWWKHQWKH0XVWD~DETXDQWLW\RIWKH.DIDQFDQEHWDNHQIURPRIWKHHVWDWH



86/198


5XOH ,I WKHGHFHDVHGKDVQRWPDGHDZLOOWKDWWKH.DIDQVKRXOGEH SDLG IRU IURPWKHRIKLVHVWDWHDQGLIWKHKHLUVZLVKWRWDNHLWIURP WKH HVWDWH WKHQ WKH\PXVWQRWGUDZPRUHWKDQZKDWKDVEHHQLQGLFDWHG LQUXOHQXPEHU$QGLIWKH\SXUFKDVHGD.DIDQZKLFKLV XQXVXDOO\H[SHQVLYHWKHQWKHH[WUDDPRXQWSDLGIRULWPXVWQRWEHFKDUJHG WR WKH HVWDWH +RZHYHU LI KLV %yOLJKKHLUVDJUHHWRSD\IURP WKHLUVKDUHVRIWKHLQKHULWDQFHWKHQWKHVXPFDQEHGHGXFWHGWRWKHH[WHQWDJUHHG

5XOH 7KH .DIDQ RI DZLIHLVWKHUHVSRQVLELOLW\RIKHUKXVEDQGHYHQ LI VKH KDV KHU RZQ ZHDOWK6LPLODUO\LIDZRPDQLVJLYHQDUHYRFDEOH GLYRUFH DQGVKHGLHVEHIRUHWKHH[SLU\RIKHU,GGDKWKHQKHU KXVEDQG PXVWSURYLGHKHU.DIDQ,IKHUKXVEDQGLVQRWDGXOWRULV LQVDQH WKHQ WKHJXDUGLDQRIWKHKXVEDQGPXVWSURYLGHWKH.DIDQIRUWKHZLIHIURPKLVWKHJXDUGLDQnVSURSHUW\

5XOH ,W LV QRW REOLJDWRU\ IRU WKH UHODWLYHV RI D GHFHDVHG WR

SURYLGH WKH .DIDQIRUKLPHYHQLIWKH\ZHUHKLVGHSHQGDQWVGXULQJKLVOLIHWLPH

5XOH $V D SUHFDXWLRQLWPXVWEHHQVXUHGWKDWHDFKRIWKHWKUHHSLHFHV XVHG IRUWKH.DIDQDUHQRWVRWKLQDVWRVKRZWKHERG\RIWKHGHFHDVHG +RZHYHU LI WKH ERG\ LV IXOO\ FRQFHDOHGZKHQDOOWKHWKUHHSLHFHVDUHSXWWRJHWKHUWKHQLWZLOOVXIILFH

5XOH7KH.DIDQIRUWKHGHFHDVHGPXVWQRWEHDXVXUSHGRQHWKDWLV XQODZIXOO\DSSURSULDWHG,IQRWKLQJHOVHEXWWKHXVXUSHG.DIDQLVDYDLODEOH WKHQWKHERG\PXVWEHEXULHGZLWKRXWD.DIDQ,QIDFWWKHXVXUSHG .DIDQ PXVW EHUHPRYHGHYHQLIWKHERG\KDVDOUHDG\EHHQEXULHG H[FHSW LQ VRPH VSHFLDO VLWXDWLRQV ZKLFK ZLOO QRW EHGLVFXVVHGKHUH

5XOH ,W LV QRW SHUPLVVLEOH WR JLYHD.DIDQZKLFKLV1DMLVRUPDGH RI SXUH VLON RU ZKLFK LV ZRYHQ ZLWK JROG H[FHSW LQWKHVLWXDWLRQRIKHOSOHVVQHVVZKHQWKHUHLVQRDOWHUQDWLYH



87/198


5XOH ,W LV QRW SHUPLVVLEOHWRJLYHD.DIDQPDGHRIWKHKLGHRUVNLQ RIDGHDG1DMLVDQLPDOLQQRUPDOFLUFXPVWDQFHV,QIDFWHYHQWKH VNLQ RI D GHDG yKLUDQLPDORU.DIDQPDGHRIWKHZRRORUIXUIURP DQ DQLPDO ZKRVH PHDW LV DUyP WRHDWPXVWQRWEHXVHGLQQRUPDO FLUFXPVWDQFHV %\ WKH WHUP GHDG LV PHDQWDQDQLPDOZKLFK KDVQRWEHHQVODXJKWHUHGDFFRUGLQJWR6KDULmDK%XWD.DIDQPDGH RI ZRROIXURUVNLQRIDVODXJKWHUHG~DOyODQLPDOFDQEHXVHGIRU WKHSXUSRVH+RZHYHULWLVDUHFRPPHQGHGSUHFDXWLRQWRDYRLGWKHPDVZHOO

5XOH ,I WKH .DIDQ EHFRPHV 1DMLVRZLQJWRLWVRZQQDMyVDWRURZLQJ WRVRPHRWKHUQDMyVDWDQGLIWKH.DIDQLVQRWORVWWRWDOO\WKHQLWV 1DMLV SDUW PXVW EH ZDVKHGRUFXWRIIHYHQDIWHUWKHGHDGERG\KDV EHHQ SODFHGLQWRWKHJUDYH,ILWLVQRWSRVVLEOHWRZDVKLWRUFXWLWRIIEXWLWLVSRVVLEOHWRFKDQJHLWWKHQLWPXVWEHFKDQJHG

5XOH ,I D SHUVRQ ZKR LVZHDULQJWKH,~UyPIRUDMMRU8PUDK

GLHV KHPXVWEHJLYHQWKH.DIDQOLNHDOORWKHUVDQGWKHUHLVQRKDUPLQFRYHULQJKLVKHDGDQGIDFH

5XOH ,W LV 0XVWD~DE WKDWRQHNHHSVD.DIDQ6LGUOHDYHVDQG&DPSKRUUHDG\GXULQJRQHnVOLIHWLPH

7KH5HZDUGIRU3URYLGLQJDQ([SHQVLYH

+LJK4XDOLW\.DIDQIRUWKH'HFHDVHG

D D

$~PDGLEQ0X~DPPDGLEQm,VyUHODWHVWKDW$Ezm$EGLOOyK3HDFHEH XSRQ KLPVDLGo3UHSDUHJRRGTXDOLW\.DIDQVIRU\RXUGHFHDVHG

VLQFH LW WKH .DIDQ LVDEHDXW\IRUKLPp7KDZyEDO$mPyO3DJH



88/198


D D M

,Q DQRWKHU~DGzWKIURP$Ezm$EGLOOyK3HDFHEHXSRQKLPKHLVUHSRUWHGWRKDYHVDLGo0\IDWKHU,PyP%yTLU3HDFHEHXSRQKLPUHFRPPHQGHG PH WKDW , VKRXOG SURYLGH D JRRG.DIDQIRUKLPVLQFH WKHGHFHDVHGZLOOKDYHSULGHRYHURQHDQRWKHUDFFRUGLQJWRWKHW\SH RI .DIDQ WKDW WKH\ KDYHp:DVymLODO6KznD9ROXPH3DJH

7KH5HZDUGIRUWKH2QHZKR*LYHVD%HOLHYHUD.DIDQ

MD D

$Ez -DnIDU 3HDFHEHXSRQKLPVDLGo6RPHRQHZKRWDNHVXSRQWKHUHVSRQVLELOLW\RISXUFKDVLQJDQGJLYLQJD%HOLHYHUD.DIDQLVMXVWDV WKH SHUVRQ ZKR WRRN WKH UHVSRQVLELOLW\ RIFORWKLQJWKDWSHUVRQXQWLO WKH 'D\ RI 5HVXUUHFWLRQp:DVynLODO6KznD9ROXPH3DJH

ZO

D I D [ O

m$EGLOOyK LEQ m$EEyV VDLG o:KHQ )yLPDK ELQW DO$VDGWKHPRWKHU RI m$PzUXO 0XnPLQzQ 3HDFH EHXSRQKLPOHIWWKHZRUOGWKH 3URSKHW3HDFHEHXSRQKLPDQGKLVIDPLO\WROGm$Ozo7DNHP\m$PyPDK DQG VKLUW DQG XVH WKHPDVD.DIDQIRU\RXUPRWKHUDQG

WHOO WKH ZRPHQ WR JLYH KHU D SURSHU *KXVOp :DVynLO DO6KznD9ROXPH3DJH



89/198




90/198


6WHSE\6WHSSURFHGXUHIRUSXWWLQJWKH.DIDQRQWKH'HFHDVHG0DOH

0HDVXUHPHQWVIRUDWDOOSHUVRQRIDYHUDJHEXLOGXSWRFP

8QGHUJDUPHQW7KH OHQJWKVKDOOEHDERXWWKUHHWLPHVWKHZDLVWPHDVXUHPHQWDQGWKHZLGWK VKDOO EH DERXW RQH DQG D TXDUWHU WKH ZDLVWPHDVXUHPHQWp[p [FP 7LH DURXQG ZDLVW ZLWKpFPZDLVW

EDQGV7KLVSLHFHLVPXVWD~DE

/RLQFORWK7KH OHQJWK VKDOO EH WKH PHDVXUHPHQWIURPWKHQDYHOWRWKHDQNOHVDQG WKH ZLGWK VKDOO EH DERXW WZR WLPHV WKH ZDLVWPHDVXUHPHQW[ [FP7LHDURXQGZDLVWZLWKWLHVWULSZLWKWKHNQRWFRLQFLGLQJZLWKWKHQDYHO7KLVSLHFHLVZyMLE



91/198


6KLUW7KH OHQJWKVKDOOEHDERXWWKUHHWLPHVWKHZDLVWPHDVXUHPHQWDQGWKHZLGWK VKDOOEHDERXWWKHZDLVWPHDVXUHPHQW[[FP7KLVSLHFHLVZyMLE

7XUEDQ&ORWK WR ZUDS DURXQG WKH KHDG RQFH ZLWKWKHHQGVSODFHGRQWKH

FKHVW[[FP7KLVSLHFHLVPXVWD~DE

:UDSSHU7KH OHQJWK VKDOO EH RQH DQGDTXDUWHUWLPHVWKHKHLJKWRIWKHGHDGERG\ DQG WKH ZLGWKVKDOOEHWZLFHWKHZDLVWPHDVXUHPHQW[

[FP 7ZRZUDSSHUVWREHXVHGEXWRQO\RQHLVZyMLEZKLOHWKHRWKHULVPXVWD~DE



92/198


7LHDURXQGZLWKVWULSV



93/198


VW:UDSSHUq:yMLEq[[FPQG :UDSSHUq0XVWD~DEq[[FP/RLQFORWKq:yMLEq[[FP6KLUWq:yMLEq[[FP8QGHUJDUPHQWq0XVWD~DEq[[FP7XUEDQq0XVWD~DEq[[FP

7RWDO PDWHULDOUHTXLUHGIRUWKHNDIDQRIDQDGXOWPDOHLVPHWUHVRIFPZLGHPDWHULDO



94/198


6WHSE\6WHSSURFHGXUHIRUSXWWLQJWKHNDIDQRQWKHGHFHDVHGIHPDOH

0HDVXUHPHQWVIRUDWDOOSHUVRQRIDYHUDJHEXLOGXSWRFP

3DG/LQHG ZLWK FRWWRQ ZRRO DQG VSULQNOHG ZLWK FDPSKRU [[FP RU KDOI ZDLVW PHDVXUHPHQW IRU ZLGWK DQG WZLFHPHDVXUHPHQW IRU OHQJWK 8VH D FP ZLGH WLH VWULSWRWLHDURXQGZDLVW7KLVSLHFHLVPXVWD~DE

&KHVWEDQG7KH OHQJWKVKRXOGFRYHUDERYHDQGEHORZWKHEXVWRIDIHPDOHERG\ WKH ZLGWK VKRXOG EH DW OHDVW RQHDQGDKDOIWLPHVWKHFKHVWPHDVXUHPHQW[[FP7KLVSLHFHLVDOVRPXVWD~DE



95/198


8QGHUJDUPHQW7KHOHQJWKVKDOOEHWKUHHWLPHVWKHZDLVWPHDVXUHPHQWDQGWKHZLGWKVKDOO EHWKHZDLVWPHDVXUHPHQW[[FP7LHDURXQG

ZDLVWZLWKDFPWLHVWULS7KLVSLHFHLVDOVRPXVWD~DE

/RLQFORWK7KH OHQJWK VKDOO EH WKH PHDVXUHPHQWIURPWKHQDYHOWRWKHDQNOHVDQG WKH ZLGWK VKDOO EH WZR WLPHVWKHEXVWPHDVXUHPHQW[[FP 7LH DURXQG ZDLVW ZLWK D WLHVWULSFPZLGHZLWK WKHNQRWSUHIHUDEO\RQWKHEDFNVLGHRIWKHQDYHO7KLVSLHFHLVZyMLE



96/198


6KLUW7KH OHQJWK VKDOOEHWKUHHWLPHVWKHEXVWPHDVXUHPHQWDQGWKHZLGWKVKDOO EHWKHEXVWPHDVXUHPHQW[[FP7KLVSLHFHLVZyMLE

9HLO6FDUI&ORWK WR FRYHU KHDG DQG KDLU MXVW OLNH LQ SUD\HUV [[FP7KLVSLHFHLVPXVWD~DE

:UDSSHU7KH OHQJWK VKDOO EH RQH DQGDTXDUWHUWLPHVWKHKHLJKWRIWKHGHDG

ERG\ DQG WKH ZLGWKVKDOOEHWZLFHWKHZDLVWPHDVXUHPHQW[

[FP 7ZRZUDSSHUVWREHXVHGEXWRQO\RQHLVZyMLEZKLOHWKHRWKHULVPXVWD~DE



97/198


7LHDURXQGZLWKVWULSV



98/198


VW :UDSSHUq:MLEq[[FP QG :UDSSHUq0XVWDKDEq[[FP /RLQFORWKq:MLEq[[FP 6KLUWq:MLEq[[FP

8QGHUJDUPHQWq0XVWDKDEq[[FP &KLURq0XVWDKDEq[[FP 9HLOVFDUIq0XVWDKDEq[[FP &KHVWEDQGq0XVWDKDEq[[FP

7RWDO PDWHULDOUHTXLUHGIRUWKHNDIDQRIDQDGXOWIHPDOHLVPHWUHVRIFPZLGHPDWHULDO



99/198


> 5XOHVRIWKH+XQ{W@

5XOH $IWHUKDYLQJJLYHQ*KXVOWRWKHGHDGERG\LWLV:yMLEWRSHUIRUP +XQ{W ZKLFK PHDQV WRDSSO\&DPSKRURQLWVIRUHKHDGERWK WKH SDOPV ERWK WKH NQHHV DQG ERWK WKH ELJ WRHV RI WKHGHFHDVHGnV IHHW ,WLVQRWQHFHVVDU\WRUXEWKH&DPSKRUEXWLWPXVWEHYLVLEOHRQWKRVHSDUWV,WLV0XVWD~DEWRDSSO\&DPSKRUWRWKHWLS

RI WKH QRVHDOVR7KH&DPSKRUPXVWEHSRZGHUHGDQGIUHVKDQGLILWLVVRVWDOHWKDWLWKDVORVWLWVIUDJUDQFHWKHQLWZLOOQRWVXIILFH

5XOH 7KH,~WL\yW0XVWD~DELVWKDWWKH&DPSKRUVKRXOGILUVWEHDSSOLHG RQ WKH IRUHKHDG RI WKH GHFHDVHG ,W LV QRWQHFHVVDU\WRREVHUYH VHTXHQFH ZKLOH DSSO\LQJ WKH &DPSKRU WR RWKHU SDUWVPHQWLRQHGDERYH

5XOH ,W LV EHWWHU WKDW +XQ{W LV DSSOLHG EHIRUH WKH .DIDQDOWKRXJK WKHUH LV QR KDUP LQ JLYLQJ +XQ{WGXULQJ.DIDQRUHYHQDIWHULW

5XOH ,WLVQRWSHUPLVVLEOHWRDSSO\+XQ{WWRDSHUVRQZKRGLHGLQ WKH VWDWH RI,~UyPIRUm8PUDKDQGyMMH[FHSWLQFLUFXPVWDQFHVH[SODLQHGLQUXOHQXPEHU

5XOH $OWKRXJK LW LVDUyPIRUDZRPDQWRSHUIXPHKHUVHOILIKHU KXVEDQG KDV GLHGDQGVKHLVLQKHUm,GGDKEXWLIVKHGLHVZKLOHLQm,GGDKWKHQLWLV:yMLEWRJLYHKHU+XQ{W

5XOH $FFRUGLQJ WR ,~WL\yW 0XVWD~DE SHUIXPHV OLNH PXVNDPEHUJULV DQG DORHVZRRG G VKRXOGQRWEHDSSOLHGWRWKHGHDGERG\DQGQHLWKHUVKRXOGWKHVHWKLQJVEHPL[HGZLWKWKH&DPSKRU

5XOH ,W LV 0XVWD~DEWRPL[DVPDOODPRXQWRI7XUED~VRLORIWKH ODQGDURXQGWKHVKULQHRI,PyPDOXVD\Q3HDFHEHXSRQKLPZLWK WKH &DPSKRUEXWLWVKRXOGQRWEHDSSOLHGWRWKRVHSDUWVRIWKH



100/198


ERG\ ZKHUH LWV XVH PD\LPSO\DQ\GLVUHVSHFW ,WLVDOVRQHFHVVDU\WKDW WKH TXDQWLW\RI7XUED~LVQRWVRPXFKVXFKWKDWWKHLGHQWLW\RIWKH&DPSKRUFKDQJHV

5XOH ,I &DPSKRU LV QRWDYDLODEOHRUWKHTXDQWLW\DYDLODEOHLVMXVW VXIILFLHQW IRU WKH *KXVO RQO\ WKHQ LW LV QRW :yMLEWRDSSO\+XQ{W ,I LW LV LQ H[FHVV RIWKHUHTXLUHPHQWIRU*KXVOEXWLVQRWVXIILFLHQW IRU DGPLQLVWHULQJ +XQ{W WR DOO WKH SDUWV WKHQ DV DUHFRPPHQGHG SUHFDXWLRQ WKH &DPSKRU ZLOO EH DSSOLHG RQ WKH

IRUHKHDG RIWKHGHDGERG\ILUVWDQGLIDQ\UHPDLQVLWFDQEHDSSOLHGWRWKHRWKHUSDUWV

5XOH ,W LVDOVR0XVWD~DEWKDWWZRSLHFHVRIIUHVKJUHHQWZLJVDUHSODFHGLQWKHJUDYHZLWKWKHGHDGERG\

7KLV DFWLRQ LV UHIHUUHG WR DVWKH-DUzGDDQGLWLVQHFHVVDU\WKDWWKHIUHVK WZLJV ZKLFK DUH FXWIURPDWUHHDUHZLWKRXWOHDYHV$ORWRI

HPSKDVLV KDV EHHQJLYHQE\RXU$nLPPDK3HDFHEHXSRQWKHPWRSODFH WKH-DUzGDRQERWKVLGHVRIWKHGHDGERG\7KHUHDVRQJLYHQLVWKDW DVORQJDVWKHWZLJVUHPDLQJUHHQWKHERG\ZLOOEHVSDUHGIURPWKHVTXHH]LQJLQWKHJUDYH

3UHIHUHQFH LV JLYHQ WR WKH WZLJV RI GDWH SDOPV ,I WKDW LV QRWDYDLODEOH WKHQ WKHWZLJVIURPDSRPHJUDQDWHWUHHDQGLIWKLVWRRLV

QRWDYDLODEOHWKHQIURPDQ\RWKHUWUHH7KHWZLJVVKRXOGEHRIDUPVOHQJWK DQG WKHQDPHRIWKHGHDGSHUVRQWRJHWKHUZLWKKLVWHVWLPRQ\WR WKH 2QHQHVV RI $OOyK, DQG WKH3URSKHWKRRGRIRXU3URSKHW3HDFH EH XSRQ KLP DQG KLV IDPLO\ DQGWKH$nLPPDK3HDFHEHXSRQWKHPVKRXOGEHLQVFULEHGRQWKHP

7KH WZLJ RQWKHULJKWVLGHVKRXOGWRXFKWKHDUPSLWZKLOHWKHRQHRQWKH OHIW VLGHVKRXOGEHNHSWDERYHWKHDUPSLW7KHVKHHWVKRXOGWKHQ

EHZUDSSHGDURXQGWKHERG\



101/198

5XOHVRIWKH+XQW

> 5XOHVRIDOyWDO0D\\LW@

5XOH ,W LV :yMLEWRRIIHUDOyWXO0D\\LWIRUHYHU\0XVOLPDVZHOODVIRUD0XVOLPFKLOGLILWKDVFRPSOHWHG \HDUV

5XOH ,I D FKLOG KDV QRW FRPSOHWHG \HDUV EXW LW ZDV DGLVFHUQLQJ FKLOGZKRNQHZZKDWDOyWZDVWKHQDFFRUGLQJWR,~WL\yW

:yMLE DOyWXO 0D\\LW PXVW EH RIIHUHG IRULW,ILWZDVQRWDZDUHDERXW DOyW WKHQ WKH SUD\HUV PD\EHRIIHUHGZLWKWKHLQWHQWLRQRI5DMD +RZHYHUWRRIIHUDOyWXO0D\\LWIRUDVWLOOERUQFKLOGLVQRWHYHQ0XVWD~DE

5XOH DOyWXO 0D\\LW PXVW EHRIIHUHGDIWHUWKHGHDGERG\KDVEHHQ JLYHQ *KXVO +XQ{W DQG .DIDQDQGLILWLVRIIHUHGEHIRUHRUGXULQJWKHSHUIRUPDQFHRIWKHVHDFWVWKHQLWGRHVQRWVXIILFHHYHQLI

LWLVGXHWRIRUJHWIXOQHVVRURQDFFRXQWRIQRWNQRZLQJWKHUXOH

5XOH ,WLVQRWQHFHVVDU\IRUDSHUVRQZKRRIIHUVDOyWXO0D\\LWWR EH LQ :X|KX *KXVO RU7D\DPPXPQRULVLWQHFHVVDU\WKDWKLVERG\ DQGGUHVVEHyKLU,QIDFWWKHUHLVQRKDUPHYHQLIKLVGUHVVLVD XVXUSHG RQH +RZHYHU LWLVEHWWHUWKDWZKLOHRIIHULQJWKLVDOyWRQH VKRXOG REVHUYH DOO WKH IRUPDO UXOHV ZKLFK RQH QRUPDOO\

REVHUYHGLQRWKHUSUD\HUV

5XOH 2QHZKRRIIHUVDOyWXO0D\\LWPXVWIDFHWKH4LEODKDQGLW LVDOVRREOLJDWRU\WKDWDWWKHWLPHRIDOyWXO0D\\LWWKHGHDGERG\UHPDLQV RQ KLV EDFN LQ IURQW RI WKH RQH UHFLWLQJ DOyWLQVXFKDPDQQHU KLP WKDWWKHGHFHDVHGnVKHDGLVRQKLVULJKWDQGWKHIHHWDUHRQKLVOHIWVLGH

5XOH $FFRUGLQJ WR ,~WL\yW 0XVWD~DE WKH SODFH ZKHUH RQHVWDQGV WR RIIHUDOyWXO0D\\LWVKRXOGQRWEHDXVXUSHGRQH$OVRLWPXVW QRW EH KLJKHU RUORZHUWKDQWKHSODFHZKHUHWKHGHDGERG\LVNHSWKRZHYHULILWLVDOLWWOHKLJKHURUORZHUWKHQLWLVQRWDSUREOHP



102/198


5XOH 7KH SHUVRQ RIIHULQJ DOyWXO 0D\\LW VKRXOG QRWEHIDUDZD\ IURP WKH GHDG ERG\ +RZHYHU LI KH LV SUD\LQJ LQFRQJUHJDWLRQ WKHQ WKHUH LV QR KDUP LIKHLVGLVWDQWIURPWKHGHDG

ERG\EXWLQWKHURZVZKLFKDUHFRQQHFWHGWRHDFKRWKHU

5XOH ,QDOyWXO0D\\LWRQHZKRRIIHUVSUD\HUVVKRXOGVWDQGLQVXFK D ZD\WKDWWKHGHDGERG\LVLQIURQWRIKLPH[FHSWLIWKHDOyWLV SUD\HG LQ -DPDDW DQG WKHOLQ

Documents

Ahkam Al-Amwat - Complete