François STAUFFER (PDF - 2739 Ko) - HEP Vaud
François STAUFFER (PDF - 2739 Ko) - HEP Vaud
François STAUFFER (PDF - 2739 Ko) - HEP Vaud
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Travail de maturité professionnelle commerciale<br />
2011-‐2012<br />
�������������������������<br />
��������������������<br />
����������������<br />
-‐ 4MPC<br />
���������������������������<br />
���������������������������
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!<br />
!<br />
!<br />
!<br />
!<br />
"!#$%&'!('!)%$*+,$-!.+/0'11,/22'33'!4/55'+6,%3'!"!<br />
!<br />
!<br />
721$,$*$,/2!8!<br />
!<br />
!"#$%&'($<br />
)*+,-$.'&/+,-$<br />
"#$%&$!'$!()&*!++!<br />
,-,.!/0&10%%$!<br />
()&**2$3!4!5&0326$78$93:;8!<br />
)%12$&*!?823299$!#&/(?%.+11-"(@A!B( ( !.4-(5(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!<br />
;'5'+6,'5'2$1!<br />
A-/("-$-"D&-$-'%/(,#'%(E(F(<br />
A.).$-(!.#3.(G&DD&.")&(H##/I(D#'/-&33J"-(E(3.(1#"$.%&#'I(0#+"(/.(0"2D&-+/-(<br />
D#33.K#".%&#'(-%(/.("-3-D%+"-(%#+%(.+(3#'4()+(%".,.&3I(<br />
A.).$-(B2D&3-(L-'#&"I(/-D"2%.&"-()-(3*M'&%2(N+.3&%2I(-%(O."&'(?%.+11-"(0#+"(3-+"(<br />
D#'/D&-'D&-+/-("-3-D%+"-I(<br />
L-/($-$K"-/()-(3*M'&%2(B#$$+'&D.%&#'(0#+"(3-+"/(D#'/-&3/(-%(3-+"(/#+%&-'7(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
D(<br />
5797( B#'%-P%-(-%($&/-(-'(03.D-()-(3*2,.3+.%&#'()-/(-'/-&4'-$-'%/(0."(3-/(2%+)&.'%/(<br />
Q;;;R(777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777(96(<br />
5757( L*.'D&-'(/S/%J$-()*;;;(E(3.(:;!(#&/(?%.+11-"(@A!B( ( !.4-(@(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
L?( 76/2/&+%IK,'!?????????????????????????????????????????????????????????????????????????????????????????!GF(<br />
V797( c.K3-()-/(1&4+"-/(77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777(@^(<br />
V757( c.K3-()-/(%.K3-.+P(77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777(@^(<br />
V7C7( c.K3-()-/(4".0\&X+-/(7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777(@^(<br />
M22'N'1!????????????????????????????????????????????????????????????????????????????????????????????????????????????????!7!<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
>? 72$+/(*6$,/2!<br />
!"#$%$&%'&()*&)($%+$%#,%-,)&$%.*/#$%01+,2/234)$%+)%*,5&/5%+$%6,)+%<br />
L.( :.+%-( ;D#3-( !2).4#4&X+-( )+( D.'%#'( )-(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
78)53&1%+,5'%#,4)$##$%'$%+1(/)#$%9/5%'&,2$%<br />
L*M'&%2( N+.3&%2I( ).'/( 3.X+-33-( W-( %".,.&33-I( -/%( )&"-D%-$-'%( 3&2-( .+( G-D%#".%7( ?-/(<br />
$&//&#'/(0"&'D&0.3-/(/#'%()-(/#+%-'&"(3-(0&3#%.4-()-(3.(:;!(+/I( .( )2K+%2( E( 3.( :;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!<br />
)'&3$!VO232W*$X!<br />
P%26H!'Q$%1$2K%$B$%6!$6!'$!*$;8$*;8$!<br />
?H'0K)K2$!<br />
19H;20321H$!<br />
R;2$%;$1!<br />
8&B02%$1!<br />
S*0%T021!<br />
>068HB0625&$1!$6!<br />
R;2$%;$1!'$!30!%06&*$! U!<br />
Y?+-+!<br />
VY?X!<br />
! !<br />
PS!,!<br />
PS!L!<br />
PS!+!<br />
! !<br />
>RR(G,,!<br />
VR,X!<br />
! ! !<br />
PS!,!<br />
PS!L!<br />
!<br />
>R?RZL,!<br />
VRLX!<br />
!<br />
PS!,!<br />
PS!L!<br />
! ! !<br />
>"JR,-,!<br />
VJRX!<br />
PS!,!<br />
PS!L!<br />
! ! ! !<br />
>"R?JL,!<br />
V>"R?JX!<br />
PS!,!<br />
PS!L!<br />
! ! ! !<br />
U! ! ! ! ! !<br />
!<br />
Haute école pédagogique<br />
Qualité<br />
Avenue de Cour 33 — CH 1014 Lausanne<br />
www.hepl.ch<br />
h<br />
.;,#),&3/5%+$'%$5'$325$9$5&'%$&%#&/(?%.+11-"(@A!B( ( !.4-(V(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
j+,"-(-%(3-/($#)+3-/("22,.3+2/(3-(/-$-/%"-(/+&,.'%(.1&'()-(D#'%"k3-"(-%(0#+"/+&,"-(<br />
3*.$23&#".%&#'7(<br />
L.( /-D#')-( K#+D3-( )*.$23&#".%&#'I( -'( W.+'-( /+"( 3-( 4".0\&X+-I( -/%( X+.'%( E( -33-(<br />
.''+-33-( -%( .( +'( #KW-D%&1( 03+/( 43#K.3( 0#+"( 3*.$23&#".%&#'( '#%.$$-'%( )-/( 03.'/(<br />
)*2%+)-7(L-(D#'/-&33-"(E(3.(1#"$.%&#'(0"#)+&%(+'-(/S'%\J/-()-(%#+/(3-/("2/+3%.%/()-/(<br />
$#)+3-/7( ?+"( 3.( K./-( )-( D-( )#D+$-'%( -%( )-/( ".00#"%/( )*.+%#2,.3+.%&#'( )-/(<br />
1#"$.%-+"/I( )-/( 0"#0#/&%&#'/( )*.$23&#".%&#'( /#'%( 2$&/-/( 0."( 3-/( "-/0#'/.K3-/( )-(<br />
1&3&J"-/(-%(0."(3-/("-/0#'/.K3-/()*M;G(0+&/(,.3&)2-/(0."(3-(B#$&%2()-()&"-D%&#'(QBTR(<br />
)-(3*&'/%&%+%&#'7(<br />
=)>$&%+)%&(,;,3#%<br />
A#'( %".,.&3( )-( $.%+"&%2( 1.&%( /+&%-( E( D-3+&( )-( 3.( 0"2D2)-'%-( /%.4&.&"-I( l./$&'.(<br />
B\.0+&/I(X+&(.,.&%("2.3&/2(+'-(2,.3+.%&#'(-'(3&4'-(0#+"(+'($#)+3-(.1&'()-(%-/%-"(+'(<br />
%-3( )&/0#/&%&17( L-/( D#'/%.%/( .S.'%( 2%2( D#'D3+.'%/I( 3*M'&%2( N+.3&%2( .( 0"#0#/2(<br />
)*.K.')#''-"( 3*2,.3+.%&#'( 0.0&-"( .+( 0"#1&%( )*+'-( 2,.3+.%&#'( -'( 3&4'-( 0#+"(<br />
3*2,.3+.%&#'()-/($#)+3-/()-(3.(1#"$.%&#'()-(K./-7(<br />
!#+"(1.D&3&%-"(3.($&/-(-'(03.D-()+('#+,-.+(/S/%J$-()*2,.3+.%&#'(-%(.//+"-"(+'(%.+P(<br />
)-( "20#'/-/( .+P( X+-/%&#''.&"-/( /+11&/.$$-'%( 23-,2I( $#'( %".,.&3( )-( A.%+"&%2( /-(<br />
D#'D-'%"-".( 0"&'D&0.3-$-'%( /+"( 3*./0-D%( 0"#$#%&#''-3( )+( 0"#W-%I( D#$0"-'.'%(<br />
'#%.$$-'%(3.()&11+/&#'()*&'1#"$.%&#'/(.&'/&(X+-(3-/($#S-'/(+%&3&/2/(0#+"(&'D&%-"(3-/(<br />
2%+)&.'%/(E(0."%&D&0-"(.+P(2,.3+.%&#'/7(!."(.&33-+"/I(+'-(0-%&%-(0."%&-()-(D-()#//&-"(<br />
%".&%-".()+(/+&,&()-(3.($&/-(-'(.003&D.%&#'()+(0"#W-%7(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
A? 9B/3*$,/2!('!3C-B%3*%$,/2!(%21!3C,21$,$*$,/2!<br />
A?>? 4/2$'N$'!'$!5,1'!'2!I3%6'!('!3C-B%3*%$,/2!('1!<br />
'21',&2'5'2$1!I%+!3'1!-$*(,%2$1!U999V!<br />
L*2,.3+.%&#'()-/(-'/-&4'-$-'%/(0."(3-/(2%+)&.'%/(/*-/%(42'2".3&/2-(E(0."%&"()-(9Y86(<br />
.+P(;%.%/fM'&/(-%(03+/(%.")&,-$-'%(-%(03+/(3-'%-$-'%(-'(;+"#0-7(a3(-/%(&'%2"-//.'%(<br />
)-('#%-"(X+*&3(/*.4&%()+($#S-'()*2,.3+.%&#'(3-(03+/(+%&3&/2I(03+/(X+-(3*2,.3+.%&#'(0."(<br />
3-/(0.&"/(#+(-'D#"-(3*2,.3+.%&#'(0."()-/(#K/-",.%-+"/(-P%-"'-/(0."(-P-$03-7(<br />
78...%$&%#,%-.0%6,)+%<br />
L*;;;(.(2%2($&/-(-'(03.D-(E(3.(:.+%-(mD#3-(!2).4#4&X+-()+(D.'%#'()-(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
2%+)&.'%/( /-( "-W#&4'.&-'%7( L-/( 0#&'%/( "-3-,2/( 0."( 3-/( 2%+)&.'%/( /#'%( )#'DI( )*+'-(<br />
$.'&J"-(42'2".3-I(1#')2/(-%(0-+,-'%(q%"-(0"&/(-'(D#$0%-7(<br />
!."(.&33-+"/I(K&-'(X+-(3-/(2%+)&.'%/('-(/#&-'%(0./(.0%-/(E(X+.3&1&-"(%#+/(3-/(./0-D%/(<br />
)-/(-'/-&4'-$-'%/(X+*&3/("->#&,-'%I(d(%-3/(X+-(3-(D#'%-'+()*+'(D#+"/(#+(3.(/#$$-(<br />
)-( D#''.&//.'D-/( )*+'( -'/-&4'.'%( ).'/( /#'( )#$.&'-(e Z I( &3/( /#'%( '2.'$#&'/( -'(<br />
$-/+"-()-(0#"%-"(+'(W+4-$-'%(/+"()*.+%"-/(1.D-%%-/()-(3*-'/-&4'-$-'%(X+&(3-+"(-/%(<br />
)#''27(T-(D-(1.&%I(3*#0&'&#'()-/(2%+)&.'%/('-("-132%.'%(X+-(0."%&-33-$-'%(3.(X+.3&%2(<br />
)-/(-'/-&4'-$-'%/I(&3(D#',&-'%()*+%&3&/-"()*.+%"-/($#S-'/(%-3/(X+-(3*.+%#f2,.3+.%&#'(<br />
#+(-'D#"-(3*2,.3+.%&#'(0."()-/(0.&"/(0#+"(.,#&"(+'-(,&/&#'(03+/(43#K.3-()-(3.(X+.3&%2(<br />
)-/(-'/-&4'-$-'%/().'/(+'-(&'/%&%+%&#'7(<br />
W![2!6/*+1!:,'2!-B%3*-!1'+%,$!*2!6/*+1!/\!3C/2!%II+'2(!I'*!Z H !<br />
a3( '*S( .( .+D+'-( 0"-+,-( /D&-'%&1&X+-( X+*&3( S( .+".&%( +'( X+-3D#'X+-( ".00#"%( -'%"-( +'(<br />
K#'( "2/+3%.%( )*2,.3+.%&#'( -%( 3-( $.'X+-( )-( X+.3&%2( )*+'( D#+"/7( T-/( 2%+)-/(<br />
$#'%"-".&-'%( $q$-( +'-( %-').'D-( .33.'%( E( 3*-'D#'%"-( )-( D-%%-( &)2-( -'( .11&"$.'%(<br />
X+-( d(3.( 1.>#'( 3.( 03+/( -11&D.D-( )*#K%-'&"( )-( K#''-/( 2,.3+.%&#'/( 0#+"( 3-/(<br />
-'/-&4'.'%f-f/I( -/%( )-( 0"#0#/-"( )-/( D#'%-'+/( -%( )-/( -P-"D&D-/( -P&4-.'%/( -%(<br />
/%&$+3.'%/I( 0#+"( 1.D&3&%-"( 3-/( -11#"%/( )-/( 2%+)&.'%f-f/( 0#+"( $.n%"&/-"( 3-/(<br />
-'/-&4'-$-'%/I(-%(3-/(-'D#+".4-"(E(,.3#"&/-"(3-+"/(.00"-'%&//.4-/7(e Z 7(<br />
W!M! $+%B'+1! 3'1! -B%3*%$,/21]! 3'1! -$*(,%2$1! 2'! 6K'+6K'+%,'2$! R*CT! 1'! (-0/*3'+! '$!<br />
6+,$,R*'+!3'1!'21',&2'5'2$1!Z H !<br />
B#'%".&"-$-'%( E( D-%%-( .11&"$.%&#'I( 3-( B-'%"-( )-( /#+%&-'( E( 3*-'/-&4'-$-'%( )-(<br />
3*M'&,-"/&%2( )-( L.+/.''-( .( D#'/%.%2( +'( 1.&K3-( '#$K"-( )-( D#$$-'%.&"-/(<br />
)2/#K3&4-.'%/I($.34"2(3*.'#'S$.%(4.".'%&7(M'-(2%+)-(%-')".&%($q$-(E()2$#'%"-"(<br />
X+-( 3.( $.W#"&%2( )-/( 2%+)&.'%/( "-3J,-".&-'%( 0"&'D&0.3-$-'%( 3-/( ./0-D%/( 0#/&%&1/( )-/(<br />
-'/-&4'-$-'%/( X+*&3/( 2,.3+-'%7( B-"%.&'/( "-%#+"/( /#'%( K&-'( -'%-')+( %"J/( D"&%&X+-/I(<br />
$.&/(/#+3&4'-'%(42'2".3-$-'%(.+//&(3-/(0#&'%/(0#/&%&1/7(<br />
(<br />
B-/( $S%\-/I( D#$$-( '#+/( .,#'/( 0+( 3-( ,#&"I( '-( /#'%( 0./( "2-33-$-'%( )21-').K3-/7(<br />
B-0-').'%I('#+/(0#+,#'/(/+00#/-"(X+*&3/(/#'%(0"2/-'%/().'/(3-(D#"0/(-'/-&4'.'%()-(<br />
3.( :;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
M3%2"&-+"-$-'%I()-/(0"#W-%/(/-"#'%($&/(-'(03.D-(0."(3*M'&%2(N+.3&%2(0#+"(-'D#+".4-"(<br />
3-/( 1#"$.%-+"/( -%( 3-+"( -P03&X+-"( 3*;;;I( .1&'( X+*&3/( 0+&//-'%( E( 3-+"( %#+"( &'D&%-"( 3-/(<br />
2%+)&.'%/(E(0."%&D&0-"(.+P(2,.3+.%&#'/7(<br />
A?A? XC%26,'2!1^1$=5'!(C999!T!3%!Q9.!S%*(!<br />
@$*&3?'%$&%A(35*3A$'%<br />
L#"/()-(3.($&/-(-'(j+,"-()-(3*;;;(E(3.(:;!I(3-(4"#+0-()*.DD#$0.4'-$-'%(X+.3&%2(<br />
Qr`(X+.3&%2R(.&'/&(X+*+'(4"#+0-()-(1#"$.%-+"/(#'%(23.K#"2(+'(X+-/%&#''.&"-(0.0&-"(<br />
0#+"( 3.( :;!( -'( /*&'/0&".'%( )-/( X+-/%&#''.&"-/( )2WE( D"22/( E( 3*;D#3-( 0#3S%-D\'&X+-(<br />
12)2".3-( )-( L.+/.''-( Q;!=LR( -%( E( 3*M'&,-"/&%2( )-( L.+/.''-( QMoaLR7( B-( )#D+$-'%(<br />
D#$0#"%.&%(%"-'%-fX+.%"-(X+-/%&#'/(E("20#'/-/(1-"$2-/I(%"#&/(X+-/%&#'/(E("20#'/-/(<br />
#+,-"%-/( -%( %"#&/( X+-/%&#'/( X+&( 0#+,.&-'%( q%"-( .W#+%2-/( 0."( 3-/( "-/0#'/.K3-/( )-(<br />
$#)+3-/7(<br />
B-%%-( )2$."D\-( )*2,.3+.%&#'( )-/( -'/-&4'-$-'%/( ,&/.&%( E( "20#')"-( E( )&112"-'%/(<br />
#KW-D%&1/(%-3/(X+-(F(<br />
• d(/*.//+"-"(X+-(3-/(-'/-&4'-$-'%/(1#+"'&/("20#')-'%(.+P(.%%-'%-/(-%(.+P(<br />
#KW-D%&1/()-(3.(1#"$.%&#'(s(<br />
• ,.3#"&/-"(3*-'/-&4'-$-'%(-%($-%%"-(-'(2,&)-'D-(D-(X+&(-/%("2.3&/2(0#+"(3.(<br />
X+.3&%2()-(3.(1#"$.%&#'(s(<br />
• 0"-')"-("24+3&J"-$-'%(-'(D#$0%-(3*#0&'&#'()-/(2%+)&.'%/(-%(.).0%-"(3-/(<br />
D#')&%&#'/()-(3-+"/(.00"-'%&//.4-/(s(<br />
• /#+%-'&"(3-/(1#"$.%-+"/().'/(3-+"(/#+D&()*.$23&#".%&#'()-(3-+"/(<br />
-'/-&4'-$-'%/I('#%.$$-'%(-'(3-+"(1#+"'&//.'%()-/(?$$+
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
.,&/( #'%( )-( 3*&$0#"%.'D-( -%( /-"#'%( /%&$+32/( E( "20#')"-( -%( D-D&( )-( 1.>#'( 03+/(<br />
D#$03J%-(X+-(/*&3/(#'%(3*&$0"-//&#'(X+-(3-/("20#'/-/('-(/#'%(0./(-P03#&%2-/7(<br />
C,3
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
F;,5&,2$'%+)%5/);$,)%+3'A/'3&3?%<br />
L-( '#+,-.+( )&/0#/&%&1( .( 03+/&-+"/( .,.'%.4-/( '#'( '243&4-.K3-/7( c#+%( )*.K#")I( &3(<br />
"-0"2/-'%-( +'( 4.&'( )-( %-$0/( D#'/&)2".K3-( 0+&/X+-( 3-/( X+-/%&#''.&"-/( /-"#'%( -'(<br />
3&4'-(-%()#'D(/.&/&/()&"-D%-$-'%(0."(3-(/#')2(/+"(1#"$.%(&'1#"$.%&X+-7(B-D&(&$03&X+-(<br />
X+-(3-/(-""-+"/()-(/.&/&-(/#'%(%#%.3-$-'%(2D."%2-/7(<br />
L*.'#'S$.%(-%(3.(D#'1&)-'%&.3&%2(/#'%(.$23&#"2/()-($.'&J"-(E("2-33-$-'%(3-/(4.".'%&"(<br />
-'( +%&3&/.'%( +'( $#)-( /2D+"&/2( )-( %".'/$&//&#'( )-/( )#''2-/( Q??LRI( .&'/&( X+*-'(<br />
/+00"&$.'%( 3-/( &'%-"$2)&.&"-/( -'%"-( 3-/( 2%+)&.'%/( -%( 3*M'&%2( N+.3&%2( D\."42-(<br />
)*.'.3S/-"(3-/()#''2-/7(<br />
L*.'.3S/-()-/("2/+3%.%/(-/%(1.D&3&%2-(-%(0-+%(q%"-(1.&%-(03+/(".0&)-$-'%I(0+&/X+*&3('*S(.(<br />
03+/()-(/.&/&-7(a3(/+11&%()*-P0#"%-"(3-/()#''2-/()-(?+",-SA#'u-S(-%()-(3-/(%".&%-"(/+"(<br />
+'( 3#4&D&-3( )-( %.K3-+"( %-3( X+*;PD-3( #+( /+"( +'( 3#4&D&-3( )*.'.3S/-( /%.%&/%&X+-( D#$$-(<br />
=&,&3'&3*,#%0,*B,2$%?/(%&G$%=/*3,#%=*3$5*$'(Q?!??R7(<br />
!."(.&33-+"/I(+'-("2)+D%&#'()-/(D#v%/(0-+%(q%"-(D#'/%.%2-I(0+&/X+-(3-(0"#D-//+/(-/%(<br />
-11-D%+2( -'( 3&4'-( -%( X+*&3( '*S( .( 03+/( K-/#&'( )*&$0"&$-"( 03+/&-+"/( $&33&-"/( )-( 0.4-/(<br />
0#+"()&/%"&K+-"(3-/(X+-/%&#''.&"-/(.+P(2%+)&.'%/7(<br />
L*M'&%2(N+.3&%2(.(0+("-$."X+-"I(3#"/()+(%-/%()-(l./$&'.(B\.0+&/($-%%.'%(-'(3&4'-(<br />
3*2,.3+.%&#'( )*+'( $#)+3-I( X+-( 3.( $.W#"&%2( )-/( 2%+)&.'%/( .&'/&( X+-( )-/( 1#"$.%-+"/(<br />
2%.&-'%(1.,#".K3-/(E(+'-(2,.3+.%&#'(-'(3&4'-7(;'(-11-%I(3-/(/#')2/(0-+,-'%("20#')"-(<br />
.+P(X+-/%&#''.&"-/(X+.')(&3/(3-()2/&"-'%(-%(3-/(1#"$.%-+"/('-()#&,-'%(03+/(0"-')"-(<br />
)+(%-$0/(/+"(3-+"/(D#+"/(0#+"(D-%%-()2$."D\-()*2,.3+.%&#'7(<br />
L.($&/-(-'(3&4'-()-/(X+-/%&#''.&"-/()*2,.3+.%&#'(0-"$-%()*.+%#$.%&/-"(3-(0"#D-//+/(<br />
Q-',#&()-/($.&3/()-(/#33&D&%.%&#'/(-%()-(".00-3/(0#+"("20#')"-(.+P(X+-/%&#''.&"-/R(-%(<br />
)*.,#&"( +'( /+&,&( D&K32( )-/( "20#'/-/( -%( )*.&'/&( 0#+,#&"( -',#S-"( )-/( ".00-3/( .+P(<br />
0-"/#''-/('*.S.'%(0./(-'D#"-("20#')+7(<br />
A?G? _-$%,31!('!3%!5,1'!'2!I3%6'!(*!(,1I/1,$,0!('!3C999!<br />
L.($&/-(-'(03.D-()-(D-('#+,-.+(/S/%J$-()*2,.3+.%&#'(.(-P&42(3.(D"2.%&#'()*+'-(3&/%-(<br />
-P\.+/%&,-( )-( %#+%-/( 3-/( %wD\-/( E( -11-D%+-"7( ?+"( D-%%-( K./-I( &3( -/%( 0#//&K3-( )-(<br />
)24.4-"(/-0%(4".')-/(2%.0-/(F(<br />
• B#'/%"+D%&#'()+(D#'%-'+()+(X+-/%&#''.&"-(<br />
B-%%-( 2%.0-( D#$0"-')( 3.( 0."%&-( D#'D-0%&#'( )+( X+-/%&#''.&"-7( a3( 0-+%( /*.,2"-"(<br />
'2D-//.&"-()*-11-D%+-"()-/(.W+/%-$-'%/(0#+"(1.D&3&%-"(3*.'.3S/-()-/()#''2-/(#+(0#+"(<br />
$&-+P("20#')"-(.+P(K-/#&'/(-P0"&$2/(0."()&112"-'%/(.D%-+"/7(<br />
• c-/%()-(3*#+%&3(<br />
B-%%-( 0\./-( %"J/( 0".%&X+-( D#'/&/%-( -'( 3.( D"2.%&#'( )+( X+-/%&#''.&"-( /+"( 1#"$.%(<br />
&'1#"$.%&X+-(-%(-'/+&%-(-'(3.("2.3&/.%&#'()-(X+-3X+-/(%-/%/(0#+"(/*.//+"-"()+(K#'(<br />
1#'D%&#''-$-'%()+(/S/%J$-7(<br />
• !"20.".%&#'(-%(3.'D-$-'%()-(3.(D.$0.4'-()*2,.3+.%&#'(-'(3&4'-(<br />
L-/( X+-/%&#''.&"-/( /#'%( #+,-"%/( )+".'%( 3.( 02"&#)-( .33.'%( )-( 3.( 1&'( )-( 3*-P.$-'( )+(<br />
$#)+3-I( W+/X+*.+( "-%#+"( )-/( '#%-/( .+P( 2%+)&.'%/7( B-3.( "-0"2/-'%-( -',&"#'( -'%"-(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
%"#&/(/-$.&'-/(-%(+'($#&/7( !."(.&33-+"/I(3.()&11+/&#'()*&'1#"$.%&#'(-%( 3.( 0"#$#%&#'(<br />
"-0"2/-'%-'%(3.(0."%(&$0#"%.'%-()-(D-%%-(0\./-7(<br />
• ?+&,&(-%("2D#3%-()-/()#''2-/(<br />
L-/( %wD\-/( 0"&'D&0.3-/( X+&( D#$0#/-'%( D-%%-( 2%.0-( /#'%( %#+%( )*.K#")( 3*-',#&( )-(<br />
".00-3/7( ;'/+&%-I( 3-/( "20#'/-/( .+P( X+-/%&#'/( 3&2-/( E( )*2,-'%+-3/( 0"#K3J$-/(<br />
"-'D#'%"2/(0."(3-/(2%+)&.'%/I("-0"2/-'%-'%(3.(/-D#')-(%wD\-7(a3(/*.4&%()*+'-(02"&#)-(<br />
"-3.%&,-$-'%(D.3$-7(<br />
• o-%%#S.4-()-/()#''2-/(<br />
c#+%-/(3-/()#''2-/()#&,-'%(q%"-(,2"&1&2-/(.1&'()-("-%&"-"(3-/(D./(.K/+")-/(#+(D-+P(<br />
X+&(/#'%(&'D#$03-%/(.1&'()*.,#&"(+'-(K./-(0"#0"-(-%(+%&3&/.K3-(0#+"(3.(0"#)+D%&#'()-/(<br />
"2/+3%.%/7(<br />
• !"#)+D%&#'()-/("2/+3%.%/(<br />
B*-/%( +'-( 0\./-( .'.3S%&X+-( 3#"/( )-( 3.X+-33-( 3-/( "2/+3%.%/( /#'%( $&/( -'( 1#"$-( -%(<br />
/S'%\2%&/2/(0."(3*M'&%2(N+.3&%2()-(3.(:;!7(<br />
• B#$$+'&D.%&#'()-/("2/+3%.%/(<br />
L-/("2/+3%.%/()-(D\.X+-($#)+3-(2,.3+2(/#'%(-',#S2/(.+P(1#"$.%-+"/(D#'D-"'2/I(.+(<br />
"-/0#'/.K3-()+($#)+3-I(.+("-/0#'/.K3-()-(1&3&J"-I(.&'/&(X+*.+("-/0#'/.K3-()-(3*M'&%2(<br />
)*;'/-&4'-$-'%(-%()-(G-D\-"D\-(QM;GR(E(3.X+-33-(-/%(".%%.D\2(3-($#)+3-7(<br />
?+"(D-/(/-0%(4".')-/(2%.0-/I(W*.&(-+(+'("k3-(-'(%.'%(X+*.&)-(E(3.("2.3&/.%&#'(0#+"(%"#&/(<br />
)*-'%"-( -33-/I( E( /.,#&"(F( 3-( %-/%( )-( 3*#+%&3I( 3.( 0"20.".%&#'( -%( 3-( 3.'D-$-'%( )-( 3.(<br />
D.$0.4'-( )*2,.3+.%&#'( .&'/&( X+-( 3-( /+&,&( -%( 3.( "2D#3%-( )-/( )#''2-/7( H-( ,.&/( )#'D(<br />
)2,-3#00-"(D&f)-//#+/(3-(%".,.&3(X+-(W*.&(-11-D%+2().'/(D-/(%"#&/(2%.0-/7(<br />
H$'&%+$%#8/)&3#%<br />
L*2,.3+.%&#'( 0#+"( 3-( /-$-/%"-( 99`( D#'D-"'-( .+( %#%.3( +'-( /#&P.'%.&'-( )-( $#)+3-/(<br />
)&112"-'%/7(B#$$-(D-"%.&'-/(X+-/%&#'/(/#'%(/02D&1&X+-/(E(D\.X+-($#)+3-I(&3(.(2%2(<br />
'2D-//.&"-()-(D"2-"(86(X+-/%&#''.&"-/(/-'/&K3-$-'%()&112"-'%/7(B-(%".,.&3I(-11-D%+2(<br />
/+"(+'-(03.%-f1#"$-(/02D&.3&/2-().'/(3-(/#').4-(-'(3&4'-I(.()-$.')2(K-.+D#+0()-(<br />
%-$0/( 0+&/X+-( 3-/( &'1#"$.%&#'/( X+&( )&112".&-'%( 0#+"( D\.X+-( X+-/%&#''.&"- ^ ( /-(<br />
%"#+,.&-'%().'/(03+/&-+"/()#D+$-'%/()&/%&'D%/7(a3(.(1.33+(".//-$K3-"(-%(.).0%-"(D-/(<br />
/02D&1&D&%2/( .1&'( )-( 0#+,#&"( 3-/( &'/2"-"( ).'/( 3-/( X+-/%&#''.&"-/( )-( $.'&J"-(<br />
\#$#4J'-7(<br />
L.( "-3-D%+"-( )-( D\.X+-( X+-/%&#''.&"-( .( 0-"$&/( )*2,&%-"( 03+/&-+"/( -""-+"/I(<br />
'#%.$$-'%()-('+$2"#%.%&#'(#+()-("-1#"$+3.%&#'7(<br />
!3+/&-+"/( X+-/%&#''.&"-/f%-/%/( #'%( 2%2( D"22/( 0#+"( 0#+,#&"( ,2"&1&-"( 3-( K#'(<br />
1#'D%&#''-$-'%()+(/S/%J$-I(.&'/&(X+-(D-3+&()-/("243.4-/(0.".$2%"2/7(B-/(-//.&/(#'%(<br />
2%2(-11-D%+2/(.+(/-&'()-(3*M'&%2(N+.3&%2I(D-(X+&(.(0-"$&/()*.,#&"()-/("-%#+"/(".0&)-/(<br />
X+.'%(.+P(2,-'%+-3/(.W+/%-$-'%/(#+(0"#K3J$-/(E("243-"7(<br />
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!<br />
\ !B17(`''-P-(d(N+-/%&#''.&"-(%S0-()*2,.3+.%&#'()-/($#)+3-/(0#+"(3-(/-$-/%"-(99`7(e(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
0(1A,(,&3/5%$&%#,5*$9$5&%+$%#,%*,9A,25$%+81;,#),&3/5%$5%#325$%<br />
B-%%-( 2%.0-( .( )-$.')2( )+( %-$0/( 0+&/X+*&3( .( 1.33+( -P%".&"-( )-( a?f`D.)-$&.( Qa?`R(<br />
Q/S/%J$-(X+&(0-"$-%()-(42"-"(+'-(4".')-(0."%&-()-(3*.)$&'&/%".%&#'()-(3.(:;!R(3-/(<br />
3&/%-/()*.)"-//-/()-(D#+""&-3/()-/(2%+)&.'%/(0#+"(D\.X+-($#)+3-(2,.3+2(.+(/-$-/%"-(<br />
99`7( a3( .( 24.3-$-'%( 1.33+( %"#+,-"( 3-/( .)"-//-/( )-( D#+""&-3/( )-( %#+/( 3-/( 1#"$.%-+"/(<br />
D#'D-"'2/(0#+"(0#+,#&"(3-+"(-',#S-"()-/(&'1#"$.%&#'/7(<br />
!#+"( 0"#4".$$-"( 3*#+,-"%+"-( )-/( X+-/%&#''.&"-/I( +'( D#33-D%-+"( .( 2%2( D"22( 0#+"(<br />
D\.D+'()-(D-/()-"'&-"/7(M'(D#33-D%-+"(-/%(+'("#K#%(X+&(4J"-(3*-',#&()-/($.&3/(.&'/&(<br />
X+-( 3.( "2D#3%-( )-/( )#''2-/7( `( '#+,-.+I( 3.( 0.".$2%"&/.%&#'( $.'+-33-( )-( D\.X+-(<br />
D#33-D%-+"(.(2%2(+'-(%wD\-(./%"-&4'.'%-I()*.+%.'%(03+/(X+-(3-/(/#33&D&%.%&#'/(.&'/&(X+-(<br />
3-/(".00-3/(#'%(2%2(1.&%/(E()-/().%-/()&112"-'%-/(0#+"(D\.X+-($#)+3-7(!."(.&33-+"/I(<br />
D*-/%(3#"/()-(D-/("243.4-/(X+-(3*.'#'S$.%(0"#$&/(.+P(/#')2/(.(2%2()2%-"$&'27(M'-(<br />
.%%-'%&#'( -%( +'-( 0"2D&/&#'( 0."%&D+3&J"-/( #'%( )#'D( 2%2( )-( "&4+-+"( 3#"/( )-( D-/(<br />
$.'&0+3.%&#'/7(<br />
;'( +%&3&/.'%( 3-/( 3&/%-/( )-( D#+""&-3/I( +'( $-//.4-( 23-D%"#'&X+-( )*&'1#"$.%&#'( .( 2%2(<br />
-',#S2(.+P(2%+)&.'%/(.&'/&(X+*.+P(1#"$.%-+"/7(<br />
a3( .( 1.33+( 24.3-$-'%( "2132D\&"( .+P( $#S-'/( )-( D#$$+'&X+-"( -%( )-( ".00-3-"( .+P(<br />
2%+)&.'%/( X+-( 3-/( 2,.3+.%&#'/( )-/( $#)+3-/( /#'%( #+,-"%-/( -%( X+*&3/( )#&,-'%( S(<br />
"20#')"-7(<br />
B-/()-+P()-"'&-"/(0#&'%/(/-"#'%(3-(D-'%"-()+()2,-3#00-$-'%()+()#//&-"7(;'(-11-%I(+'(<br />
/#+%&-'( &'1#"$.%&#''-3( -%( 0+K3&D&%.&"-( 1#"%( /-$K3-( &')&/0-'/.K3-I( )J/( 3#"/( X+-( 3-/(<br />
D#'/%.%/(42'2".+P(X+.'%(E(3*2,.3+.%&#'(-'(3&4'-($#'%"-'%(X+-(3-/(%.+P()-("-%#+"/(<br />
D\+%-'%( )-( $.'&J"-( &$0#"%.'%-( 0."( ".00#"%( .+P( %.+P( )-( "-%#+"/( )-( 3.( ,-"/&#'(<br />
0.0&-"7(<br />
=)3;3%$&%(1*/#&$%+$'%+/551$'%<br />
B-%%-( 0\./-( .( 2%2( $#&'/( D\."42-( -'( %".,.&3I( 0+&/X+-( 3.( X+./&f%#%.3&%2( )+( /S/%J$-(<br />
.,.&%(2%2(.+%#$.%&/2-(.+(0"2.3.K3-7(a3(.()#'D(1.33+(,-&33-"(.+(K#'()2"#+3-$-'%()-/(<br />
#02".%&#'/7( B-D&( .( 2%2( 1.&%( E( 3*.&)-( )*+'( )#D+$-'%( "20-"%#"&.'%I( 0#+"( D\.X+-(<br />
$#)+3-I(%#+%-/(3-/(&'1#"$.%&#'/(&$0#"%.'%-/I(%-33-/(X+-(F()23.&()-("20#'/-I().%-()+(<br />
".00-3I('#$K"-()-(0-"/#''-/(D#'D-"'2-/I(x(<br />
`,.'%(3*-',#&()*+'(".00-3I(.&'/&(X+*E(3.(D3k%+"-()-/(2,.3+.%&#'/I(+'("-3-,2()+('#$K"-(<br />
)-( "20#'/-/( .( 2%2( 1.&%( 0#+"( /-( "-')"-( D#$0%-( )+( %.+P( )-( "-%#+"/( /02D&1&X+-( E(<br />
D\.X+-($#)+3-I(.&'/&(X+-()+(%.+P(43#K.37(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
E? .+/5/$,/2!<br />
L.(0"#$#%&#'(-/%(3*-'/-$K3-()-/(%-D\'&X+-/()-(D#$$+'&D.%&#'I()#'%(3-(K+%(-/%()-(<br />
1.&"-( D#''.n%"-( -%_#+( )-( 1.&"-( ,-')"-( +'( 0"#)+&%( #+( +'( /-",&D-7( T.'/( '#%"-( D./I( &3(<br />
/*.4&".()-(1.&"-(D#''.n%"-(-%()*-'D#+".4-"(3-/(2%+)&.'%/(E("20#')"-(.+P(2,.3+.%&#'/(<br />
)-/($#)+3-/(X+&(3-+"(/#'%(0"#0#/2-/(E(3.(1&'()-(D\.X+-(/-$-/%"-7(<br />
!#+"( .//+"-"( 3.( X+.3&%2( -%( 3*-11&D.D&%2( )-( 3.( 0"#$#%&#'I( &3( .( 1.33+( 2%.K3&"( +'( d(03.'(<br />
$2)&.(e( /&$03&1&27( ;'( -11-%I( '#%"-( 03.'( $2)&.( '-( D#$0#"%-( 0./( 3-( K+)4-%( )-( 3.(<br />
D.$0.4'-()-(0+K3&D&%2(D#$$-(D-(X+&(/-(1.&%(\.K&%+-33-$-'%7(a3(0-"$-%(D-0-').'%(<br />
)-("20-"%#"&-"(3-/()&112"-'%/(D.'.+P()-(D#$$+'&D.%&#'(-',&/.4-.K3-/(-%()*2%.K3&"(3-/(<br />
#KW-D%&1/( )-( 3.( 0"#$#%&#'( 0#+"( D\.X+-( $2)&.( D\#&/&I( .&'/&( X+*+'-( 3&/%-( )-/( 0#&'%/(<br />
&$0#"%.'%/(E(D#$$+'&X+-"7(<br />
;7(?.&'%f;3$#(L-[&/I(3-(1#').%-+"(-%(0"-$&-"(0"2/&)-'%()-(3i`//#D&.%&#'(.$2"&D.&'-(<br />
)-(3.(0+K3&D&%2('.%&#'.3-I(.(2$&/I(0#+"(3.(0"-$&J"-(1#&/(-'(9VYVI(+'-($2%\#)-()-(<br />
D#$$+'&D.%&#'7( B-%%-( )-"'&J"-( .( 2%2( "-0"&/-( -'( 9Y5Z( 0."( ;)[.")( ?%"#'4( X+&( 3.(<br />
K.0%&/.(d($#)J3-(`aT`(e(X+&(-/%(+'(.D"#'S$-()-(F(`%%-'%&#'I(a'%2"q%I(T2/&"I(`D%&#'7(<br />
a3( /*.4&%( %#+%( )*.K#")( )*.%%&"-"( 3*.%%-'%&#'( 4"wD-I( 0."( -P-$03-I( E( )-/( %&%"-/(<br />
.DD"#D\-+"/( ).'/( 3-( D./( )*+'-( 0+K3&D.%&#'( )*."%&D3-( #+( -'D#"-( 4"wD-( E( )-/(<br />
&33+/%".%&#'/( )*.11&D\-/7( T.'/( +'( )-+P&J$-( %-$0/I( 3-( D#'%-'+( )#&%( &'%2"-//-"( 3-(<br />
"2D-0%-+"I(D-3+&fD&()#&%(/-(/-'%&"(D#'D-"'2(0."(D-(X+*&3(3&%7(B-%(&'%2"q%()#&%(3*.$-'-"(E(<br />
.,#&"(-',&-()*.D\-%-"(#+()-(1.&"-(D-()#'%(&3(-/%(0."327(=&'.3-$-'%I(&3(-/%(&$0#"%.'%()-(<br />
,&,-$-'%(-'D#+".4-"(3-("2D-0%-+"(E(.4&"(-'(+%&3&/.'%()-/(0\"./-/(%-33-/(X+-(F((<br />
d(r".%+&%I( ?-+3-$-'%I( ;PD-0%&#''-3I( !"#$#%&#'I( B#$$-'%( 1.&"-( 0#+"I(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
2D#3#4&X+-(-%(0".%&X+-I(.1&'( )-( 0#+//-"(3-/(2%+)&.'%/(E("20#')"-( .+P(2,.3+.%&#'/7(<br />
B-/(&'D&%.%&#'/(0-+,-'%(/-(1.&"-(.+(%".,-"/()-()&112"-'%/(D.'.+P7(<br />
E?>? J*$1!B,1-1!<br />
L-( /#+%&-'( 0"#$#%&#''-3( )+( /S/%J$-( )*2,.3+.%&#'( -'( 3&4'-( 0"#0#/2( -/%( +%&3-( E(<br />
03+/&-+"/( K+%/7( !"-$&J"-$-'%I( 3.( 0"#$#%&#'( )#&%( 0-"$-%%"-( )*-P03&X+-"( .+( 0+K3&D(<br />
D&K3-(-'(X+#&(D#'/&/%-(3-('#+,-.+()&/0#/&%&1(F()-/(&'1#"$.%&#'/(%#+%(E(1.&%(0".%&X+-/(<br />
/#'%()#''2-/7(<br />
M'(.+%"-(#KW-D%&1(-/%()-()2$#'%"-"(3*&$0#"%.'D-()-/(2,.3+.%&#'/()-/(-'/-&4'-$-'%/(<br />
-%( )-( 0#+,#&"( -P03&X+-"( 3-/( &$0.D%/( X+-( D-/( )-"'&J"-/( 0-+,-'%( .,#&"( /+"( 3-/(<br />
.$23&#".%&#'/()-/(-'/-&4'-$-'%/(E(3.(:;!(#&/(?%.+11-"(@A!B( ( !.4-(9V(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
• )*2'#'D-"(3-/(D#'/&4'-/(Q-P03&D.%&#'/()-/($#).3&%2/()-("20#'/-I(-P0"-//&#'(<br />
3&K"-()-(/#'(#0&'&#'I()+"2-()+(X+-/%&#''.&"-I(x(R(<br />
L.(0"#$#%&#'('*2%.&%(0./("2-33-$-'%('2D-//.&"-I(0+&/X+-(3-/(2%+)&.'%/("-$03&//.&-'%(<br />
3-/(X+-/%&#''.&"-/(0-').'%(3-/(D#+"/7(L-/(%.+P()-("-%#+"/(2%.&-'%(%"J/(/.%&/1.&/.'%/(<br />
)-($.'&J"-(42'2".3-I(K&-'(X+*&""24+3&-"/I(0+&/X+-(D-"%.&'/($#)+3-/(.,.&-'%(+'(%.+P(<br />
)-("-%#+"/(&'12"&-+"(E(C6zI(%.')&/(X+-()*.+%"-/(2%.&-'%()-(966z7(<br />
E?G? .+/5/$,/2!('!3C-B%3*%$,/2!(%21!(C%*$+'1!-6/3'1!<br />
!#+"(D#$0."-"(-%(24.3-$-'%($*&'/0&"-"()-(3.(0"#$#%&#'()-(3*2,.3+.%&#'(X+&(-/%(1.&%-(<br />
).'/( )*.+%"-/( &'/%&%+%&#'/I( W*.&( 0"&/( D#'%.D%( .,-D( )*.+%"-/( +'&,-"/&%2/( #+( \.+%-/(<br />
2D#3-/( -%( .&( -11-D%+2( X+-3X+-/( "-D\-"D\-/( /+"( 3-/( /&%-/( [-K( )-( '#%.$$-'%F(<br />
3*M'&,-"/&%2()-(L.+/.''-(QMoaLRI(3*M'&,-"/&%2()-(o-+D\w%-3(QMoao;RI(3*M'&,-"/&%2()-(<br />
r-'J,-(QMoar;RI(.&'/&(X+-(3*;D#3-(0#3S%-D\'&X+-(12)2".3-()-(L.+/.''-(Q;!=LR7(<br />
a3(1.+%(0"2D&/-"(X+-(D\.D+'-()-(D-/(&'/%&%+%&#'/(-11-D%+-()-/(2,.3+.%&#'/()-/(D#+"/(-%(<br />
'#'(0./()-/($#)+3-/7(B-3.(/&4'&1&-(X+-(3*2,.3+.%&#'(/-(1.&%(-'(42'2".3(E(3.()-$.')-(<br />
)+( 1#"$.%-+"( -%( '#'( 0./I( D#$$-( 0#+"( 3-/( $#)+3-/( E( 3.( :;!I( )-( $.'&J"-(<br />
/S/%2$.%&X+-(-'(1&'()-(/-$-/%"-7(<br />
I53;$('3&1%+$%7,)',55$%<br />
L-/(2,.3+.%&#'/(/-(1#'%(0"&'D&0.3-$-'%(/+"(0.0&-"(E(3*M'&,-"/&%2()-(L.+/.''-(-%(#'%(<br />
+'(%.+P()-("-%#+"/()*-',&"#'(86z Y 7(L*2,.3+.%&#'()-/(D+"/+/(/-(1.&%(-'(3&4'-I($.&/(03+/(<br />
"."-$-'%7( L-( %.+P( )-( "-%#+"/( ,."&-( -'%"-( @6z( -%( 86z Y 7( L-( B-'%"-( )-( ?#+%&-'( E(<br />
3*;'/-&4'-$-'%( QB?;R( )-( 3*MoaL( .( 0+K3&2( 0.//.K3-$-'%( )*&'1#"$.%&#'/( D#'D-"'.'%(<br />
3*2,.3+.%&#'7( a3( .( '#%.$$-'%( /02D&1&2( 3-/( #"&4&'-/( -%( 3-/( #KW-D%&1/( )-( 3*;;;( ).'/(<br />
3*&'/%&%+%&#'(-%(3.(0#3&%&X+-(S("-3.%&,-7(L-/()&112"-'%/(0#&'%/(-//-'%&-3/(S(/#'%(D&%2/(%-3/(<br />
X+-(F(3.(D#'1&)-'%&.3&%2I(3*.'#'S$.%I(3-/(.,.'%.4-/()-(3*;;;I(x(T.'/(03+/&-+"/(/.33-/(<br />
)-(D#+"/I()-/(.11&D\-/(-P03&D.%&,-/(/#'%(03.D.")2-/(-'(0-"$.'-'D-(E(3*.%%-'%&#'()-/(<br />
2%+)&.'%/(-%()-/(-'/-&4'.'%/7(<br />
B-0-').'%I( +'-( 4".')-( $.W#"&%2( )-/( &'1#"$.%&#'/( 0"2/-'%-/( /+"( 3-( /&%-( [-K( -/%(<br />
)-/%&'2-( .+P( 1#"$.%-+"/I( 0+&/X+-( 3-/( )#D+$-'%/( 0"#0#/2/( /#'%( '#%.$$-'%( +'-(<br />
$."D\-(E(/+&,"-(0#+"(2,.3+-"(+'(-'/-&4'-$-'%I()-/($-/+"-/(E("-/0-D%-"(0#+"(.,#&"(<br />
+'( %.+P( )-( "-%#+"/( /.%&/1.&/.'%I( .&'/&( X+-( )-/( X+-/%&#''.&"-/( E( 1.&"-( "-$03&"( .+P(<br />
2%+)&.'%/7( o-( 1.&/.'%( 0./( )-( )2$."D\-/( 0."%&D+3&J"-/( .+0"J/( )-/( 2%+)&.'%/I(<br />
3*&'D&%.%&#'(.+0"J/()-/(2%+)&.'%/(/-(1.&%(0"&'D&0.3-$-'%(0."(3-(K&.&/()-/(-'/-&4'.'%/7(<br />
B-/()-"'&-"/("->#&,-'%(+'($.&3(-'($&3&-+()-(/-$-/%"-(3-+"(".00-3.'%(3-/(2,.3+.%&#'/(<br />
-%( /#'%( -'D#+".42/( E( -P03&X+-"( 3-( 0#+"X+#&( -%( 3-( D#$$-'%( )-/( 2,.3+.%&#'/( .+P(<br />
2%+)&.'%/7( !-').'%( 3.( 02"&#)-( )*2,.3+.%&#'I( &3/( /#'%( D\."42/( )-( 1.&"-( +'( ".00-3( E(<br />
3-+"/(2%+)&.'%/7(!."(.&33-+"/I(&3(3-+"(-/%()-$.')2()-()#''-"(+'("-%#+"(.+P(2%+)&.'%/(<br />
.+(D#$$-'D-$-'%()-(D\.X+-('#+,-.+(/-$-/%"-(0#+"(3-/(D#+"/(X+&(#'%(2%2(2,.3+2/(<br />
-'(0"2D&/.'%(3-/(0#&'%/(/#+3-,2/(0."(3-/(2,.3+.%&#'/I(3-/(.$23&#".%&#'/(-',&/.42-/(#+(<br />
'#'(-%(0#+"X+#&7(B-()&.3#4+-(-'%"-(-'/-&4'.'%/(-%(2%+)&.'%/(0-"$-%()-()#''-"()+(<br />
/-'/(E(D-(X+-(3-/(2%+)&.'%/(1#'%(-'("20#').'%(.+P(X+-/%&#''.&"-/()*2,.3+.%&#'7(<br />
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!<br />
D !;'%"-%&-'(%2320\#'&X+-()+($-"D"-)&(5Y(12,"&-"(5695(.,-D(H-.'fA#{/-(G#D\.%I(.D%&1().'/(<br />
3*2,.3+.%&#'(-%(3.("-D\-"D\-(.+(B?;!<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
I53;$('3&1%+$%J$)*GK&$#%<br />
L*M'&,-"/&%2()-(o-+D\w%-3(-11-D%+-(/-/(2,.3+.%&#'/()-/(-'/-&4'-$-'%/(-'(3&4'-7(L-(<br />
%.+P( )-( "-%#+"/( .( 2%2I( )-0+&/( 3-( )2K+%( )-( 3.( $&/-( -'( 3&4'-( )-/( X+-/%&#''.&"-/I(<br />
-P%"q$-$-'%( 23-,2( 0+&/X+*&3( /*-/%( %#+W#+"/( /&%+2( -'%"-( ^6z( -%( V6z 96 7( L*-11-%( )-(<br />
'#+,-.+%2( 0#+,.&%( -P03&X+-"( +'( %.+P( /&( 23-,2( )-( "-%#+"/( $.&/( D-%( ."4+$-'%( '*-/%(<br />
03+/(,.3.K3-(.D%+-33-$-'%(0+&/X+-(3*2,.3+.%&#'(-'(3&4'-(/-(1.&%()2WE()-0+&/(566Y7(M'(<br />
%.+P(/&(23-,2(-/%()#'D()v(E(03+/&-+"/(1.D%-+"/7(c#+%()*.K#")I(%#+/(3-/(D#+"/('-(/#'%(<br />
0./(/S/%2$.%&X+-$-'%(2,.3+2/I(D-(X+&(0-"$-%()-('-(0./(%#$K-"().'/(+'-("#+%&'-(<br />
"2K."K.%&,-7( !."( .&33-+"/I( 3-( D#'%-'+( )-/( X+-/%&#''.&"-/( 2%.'%( $#)+3.K3-( 0."( 3-/(<br />
-'/-&4'.'%/I( 3*2%+)&.'%( '-( "-$03&%( 0./( 03+/&-+"/( 1#&/( 3-( $q$-( X+-/%&#''.&"-( 0#+"(<br />
)-/(D#+"/()&112"-'%/I(D-(X+&('-()#''-(0./(+'(/-'%&$-'%()-("-)#').'D-(X+&(0#+"".&%(<br />
3.//-"(3-/(/#')2/7(<br />
a3( '*S( .( 0./( "2-33-$-'%( )-( '#%&#'( )-( 0"#$#%&#'( 0#+"( 3-/( 2,.3+.%&#'/( )-/(<br />
-'/-&4'-$-'%/7( L-( 0"&'D&0.3( 232$-'%( )-( $#%&,.%&#'( 0#+"( 3-/( 2%+)&.'%/( -/%( -'D#"-(<br />
+'-(1#&/(3-/(-'/-&4'.'%/7(a3(-/%()-$.')2(.+P(-'/-&4'.'%/()*-P03&X+-"(.+P(2%+)&.'%/(E(<br />
X+#&( /-",-'%( 3-/( 2,.3+.%&#'/( -'( $-%%.'%( -'( 0."%&D+3&-"( 3*.DD-'%( /+"( 3-( 1.&%( X+*&3( '-(<br />
/*.4&%( 0./( )*+'-( )2$."D\-( E( )-/( 1&'/( .)$&'&/%".%&,-/I( $.&/( K&-'( E( )-/( 1&'/(<br />
1#"$.%&,-/I(0#+"(.$23&#"-"(3*-'/-&4'-$-'%7(<br />
I53;$('3&1%+$%L$5E;$%<br />
`( 3*M'&,-"/&%2( )-( r-'J,-I( 3-( /-D%-+"( =#"$.%&#'( -%( ;,.3+.%&#'( .( )#''2( )-(<br />
3*&'1#"$.%&#'( .+P( &'%-"'.+%-/( /#+/( 1#"$-( )-( =#&"-( `+P( N+-/%&#'/( Q=`NR7( L-/(<br />
X+-/%&#'/( 0#/2-/( D#'D-"'-'%( 0#+"( +'-( $#&%&2( 3-/( 2%+)&.'%/( -%( 3*.+%"-( $#&%&2( 3-/(<br />
1#"$.%-+"/7(L-/(0#&'%/(.K#")2/(/#'%I(%#+%(D#$$-(0#+"(3*MoaLI(3.(D#'1&)-'%&.3&%2I(3.(<br />
0"#D2)+"-()*2,.3+.%&#'(.&'/&(X+-(3-/(K+%/()*+'-(%-33-()2$."D\-7(L*Moar;(0"#DJ)-(E(<br />
D-"%.&'-/(2,.3+.%&#'/(/+"(1#"$.%(0.0&-"I(-33-(#K%&-'%(0."(D-(K&.&/(+'(%.+P()-("-%#+"/(<br />
)*-',&"#'(V6z 96 7(T*.+%"-/(/#'%(1.&%-/(-'(3&4'-(-%(3-(%.+P()-("-%#+"/(-/%(324J"-$-'%(<br />
03+/(K./(0+&/X+-(3*&'/%&%+%&#'(4-'-,#&/-("-D+-&33-(-',&"#'(Z6z()-("-%#+"/ 96 7(<br />
.*/#$%A/#D&$*G534)$%?1+1(,#$%+$%7,)',55$%<br />
L-( )-"'&-"( /&%-( X+-( W*.&( D#'/+3%2( 2%.&%( D-3+&( )-( 3*;D#3-( 0#3S%-D\'&X+-( 12)2".3-( )-(<br />
L.+/.''-()#'%(3*#"4.'-(/*#DD+0.'%()-(3*2,.3+.%&#'()-/(-'/-&4'-$-'%/(-/%(3-(B-'%"-(<br />
)-( G-D\-"D\-( -%( )*`00+&( 0#+"( 3.( =#"$.%&#'( -%( /-/( c-D\'#3#4&-/( QBG`=cR7( L-/(<br />
&'1#"$.%&#'/()#''2-/(/#'%(%"J/(42'2".3-/(-%(D#'D&/-/7(<br />
L-( D#'/%.%( 42'2".3( X+-( '#+/( 0#+,#'/( 1.&"-( -/%( X+-( /+"( 3-/( /&%-/( [-K( )-( D-/(<br />
)&112"-'%-/( &'/%&%+%&#'/I( &3( '*S( .( 0./( #+( %"J/( 0-+( )*.DD-'%( 0."%&D+3&-"( $&/( /+"(<br />
3*&'D&%.%&#'(.+0"J/()-/(2%+)&.'%/(E("20#')"-(.+P(X+-/%&#''.&"-/7(<br />
E?H? 4%2%*N!('!I+/5/$,/2!<br />
L*M'&%2( N+.3&%2( .( "2132D\&( .+P( )&112"-'%/( D.'.+P( )-( 0"#$#%&#'( X+&( 2%.&-'%(<br />
-',&/.4-.K3-/(.+('&,-.+()-(3.(:;!(#&/(?%.+11-"(@A!B( ( !.4-(56(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
+'-( 2,-'%+-33-( +%&3&/.%&#'( 0#+"( 3.( 0"#$#%&#'( )-/( 2,.3+.%&#'/I( '#+/( 0#+,#'/(<br />
D#'/%.%-"(X+-(D-"%.&'/(D.'.+P(/#'%("2.3&/.K3-/(-'(+'(%-$0/(%"J/(D#+"%I(%.')&/(X+-(<br />
)*.+%"-/()#&,-'%(q%"-("2132D\&/(-%(D#'/%"+&%/().'/(+'()23.&(K-.+D#+0(03+/(&$0#"%.'%7(<br />
M/)(5,#%+$%#835'&3&)&3/5%NO@@PQ%<br />
L.( :;!( &$0"&$-( /&P( 1#&/( 0."( .''2-( 3-( |]]A7( a3( /*.4&%( )*+'( W#+"'.3( &'%-"'-I( )#'%(<br />
3*#KW-D%&1( -/%( )-( )&11+/-"( )&112"-'%-/( &'1#"$.%&#'/( -%( )-( 0"#0#/-"( )-/( ."%&D3-/( /+"(<br />
)&,-"/( %\J$-/I( %#+D\.'%( 42'2".3-$-'%( E( 3.( 02).4#4&-I( E( %#+/( 3-/( .D%-+"/( )-(<br />
3*&'/%&%+%&#'(Q2%+)&.'%/I(1#"$.%-+"/I(0-"/#''-3(.)$&'&/%".%&1(-%(%-D\'&X+-R7(<br />
B\.X+-( 0-"/#''-( &'%-"'-( E( 3.( :;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
-P-$03-7( L-/( &')&,&)+/( )&"-D%-$-'%( D#'D-"'2/( 0."( 3-/( 2,.3+.%&#'/( E( 3.( :;!( #&/(?%.+11-"(@A!B( ( !.4-(55(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!"#$%"&'(')'*$+,%-./'0'12,,&-34&%5'<br />
;,.3+.%&#'()-/($#)+3-/(-'(3&4'-( DEEA( !.0&33#'/F(<br />
G11&HI-/(<br />
A.&3(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!" #$%$&'($)*+,-'.%/$)0122)<br />
!"2" #3&'4%$)5(.%.'6.//$7)*89$7.558)<br />
;'(/-(C./.'%(/+"(3-/("2/+3%.%/()-(3*2,.3+.%&#'(%-/%()*+'($#)+3-(-'(3&4'-("2.3&/2-(-'(<br />
5699D(03+/&-+"/(."4+$-'%/(0E."-/(-'(1.,-+"()-(3*2,.3+.%&#'(-'(3&4'-(03+%F%(G+-(/+"(<br />
0.0&-"(#'%(2%2()#''2/(0."(3-/(2%+)&.'%/(-+HI$J$-/7(B-/(0#&'%/(0#/&%&1/(G+&(#'%(0+(<br />
J%"-("-3-,2/(#'%(2%2(+'-(C./-(0#+"('#%"-(."4+$-'%.%&#'().'/(3-/()&112"-'%/(K.'.+H(<br />
)-(0"#$#%&#'7(<br />
L-(0"-$&-"(0#&'%("-3-,2(0."(C-.+K#+0()*2%+)&.'%/(-/%(3-(0"#4"M/(2K#3#4&G+-(.00#"%2(<br />
0."(3-()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-7(;'(-11-%D(3*.'K&-'(/N/%M$-("-0"2/-'%.&%(03+/()-(<br />
8*666(1-+&33-/()-(0.0&-"(0."(/-$-/%"-(0#+"(2,.3+-"()-/($#)+3-/()*+'(/-+3(/-$-/%"-7(<br />
O'( )-+H&M$-( ./0-K%( G+-( 3-/( 2%+)&.'%/( )-( 3.( :;!( #&/(?%.+11-"(@A!B( !.4-(5@(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!"2"0" #6'$);$
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!"2"!" @A(,/&)*+,??6AB,C$)<br />
a+".'%(3.(02"&#)-()*2,.3+.%&#'(V98(T.',&-"(.+(b(12,"&-"(5695XD(+'($-//.4-()-(".00-3(<br />
0#+"( 3-/( 2,.3+.%&#'/( 2%.&%( .11&KE2( /+"( %#+/( 3-/( 2K".'/( )-/( -'%"2-/( 0"&'K&0.3-/( )-/(<br />
Cc%&$-'%/()-(3.(:;!7(<br />
P3( /*.4&//.&%( )*+'-( 0E"./-( "2)&42-D( )&/K+%2-( -%( .).0%2-( 0."( 03+/&-+"/( $-$C"-/( )-(<br />
3*O'&%2(Y+.3&%27(<br />
Q(B-%%-(.''2-D(3-/(2,.3+.%&#'/(G+.3&%2()-/($#)+3-/(/-(1#'%(-'(3&4'-_(3-/(2%+)&.'%I-I/(<br />
"-K-,"#'%(+'(K#+""&-3(T+/%-(.0"M/(3-+"/(-H.$-'/7(R(<br />
B-%%-( 0"-$&M"-( ,-"/&#'( '*2%.&%( 0./( .//-d( 0"2K&/-7( ;'( -11-%D( %#+/( 3-/( 2%+)&.'%/( '-(<br />
"->#&,-'%( 0./( +'( K#+""&-3( )-( /#33&K&%.%&#'( .0"M/( KE.K+'( )-( 3-+"/( -H.$-'/D( $.&/(<br />
+'&G+-$-'%(K-+H(G+&(/+&,-'%()-/($#)+3-/(2,.3+2/(.+(/-$-/%"-(99U7(<br />
Q(B-%%-(.''2-D(3-/(2,.3+.%&#'/(G+.3&%2()-/($#)+3-/(/-(1#'%(-'(3&4'-_(3-/(2%+)&.'%I-I/(<br />
K#'K-"'2/("-K-,"#'%(+'(K#+""&-3()-(/#33&K&%.%&#'(T+/%-(.0"M/(3-+"/(-H.$-'/7(R(<br />
B-%%-( )-+H&M$-( 0E"./-( K#$0#"%.&%( +'-( &$0-"1-K%&#'( 0+&/G+*&3( 2%.&%( 0."32(<br />
)*Q(2,.3+.%&#'(G+.3&%2(R7(["D(K-('*-/%(0./(G+-(3-/(2%+)&.'%/(G+&(2,.3+-'%(3.(G+.3&%2(<br />
)-/($#)+3-/7(L-+"(#0&'&#'(K#'%"&C+-(-'(-11-%(S()2%-"$&'-"(3.(G+.3&%2()-/($#)+3-/D(<br />
$.&/( &3( 1.+%( %-'&"( K#$0%-( )*.+%"-/( 1.K%-+"/D( '#%.$$-'%( )-( 3*.00"2K&.%&#'( )-/(<br />
1#"$.%-+"/7( !."( .&33-+"/D( 3.( 0E"./-( 2%.&%( +'( 0-+( %"#0( 3#'4+-( 0#+"( 3-/( 2K".'/(<br />
)*.11&KE.4-D( K-( G+&( )#''.&%( +'( "2/+3%.%( 0-+( -/%E2%&G+-( 0+&/G+*-33-( +%&3&/.&%( +'(<br />
'#$C"-( )-( 3&4'-( %"#0( &$0#"%.'%7( L.( /+00"-//&#'( )+( $#%( Q(G+.3&%2(R( 2%.&%( )#'K(<br />
,&/+-33-$-'%(C2'21&G+-7(<br />
Q(B-%%-(.''2-D(3-/(2,.3+.%&#'/()-/($#)+3-/(0."(3-/(2%+)&.'%/(/-(1#'%(-'(3&4'-(_(3-/(<br />
2%+)&.'%I-I/(K#'K-"'2/("-K-,"#'%(+'(K#+""&-3(T+/%-(.0"M/(3-+"/(-H.$-'/7(R(<br />
B-%%-()-"'&M"-(0"#0#/&%&#'(/-".(K-"%.&'-$-'%(-'K#"-(.$23&#"2-(3#"/()-/(0"#KE.&'-/(<br />
K.$0.4'-/()*2,.3+.%&#'D($.&/(0-+%()2TS(J%"-(+'-(C./-(0#+"(".00-3-"(.+H(2%+)&.'%/D(<br />
0."(3-(C&.&/()-/(2K".'/()*.11&KE.4-D()-("20#')"-(.+H(2,.3+.%&#'/(-'(3&4'-7(<br />
!"2"D" E,C$)*+,AA-$67)*-)&6'$);$.56$)*+8A(,/)*+-/$)5,('6$)*$)7,)5,C$)*+,AA-$67)*-)&6'$)6/&'6'-'6.//$7)*$)7,)H@E)I,-*)<br />
^#+/(0#+,#'/(K#'/%.%-"(G+-(3-(%-H%-(-/%(0".%&G+-$-'%(3-($J$-(G+-(0#+"(3-/(2K".'/(<br />
)*.11&KE.4-D(0+&/G+-(3*&'1#"$.%&#'(-/%(1&'.3-$-'%(3.($J$-7(<br />
Y+-3G+-/(T#+"/(.0"M/(3.(1&'()-/(-H.$-'/D(&3(.(2%2()-$.')2(S(3*O'&%2(B#$$+'&K.%&#'(<br />
)-("-%&"-"(K-%%-(&'1#"$.%&#'()+(/&%-(0+&/G+-(3-($-//.4-('*2%.&%(03+/()*.K%+.3&%27(!."(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
.&33-+"/D(3.&//-"(3-($-//.4-(-'(0"-$&M"-(0.4-()#''-".&%(3*&$0"-//&#'(G+-(3-($-//.4-(<br />
.(2%2(#+C3&2(#+(G+*&3(N(.(+'-('243&4-'K-(G+.'%(.+(/+&,&()-/(.K%+.3&%2/(/+"(3-(/&%-(g-C(<br />
)-(3.(:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
L-/( $J$-/( K#'/%.%/ 9i ( K#'K-"'.'%( 3*-11&K.K&%2( )-/( ".00-3/( .,.&-'%( 2%2( 1.&%/( 3#"/( )+(<br />
%-/%()-(k./$&'.(BE.0+&/(-'(56997(<br />
B#'K-"'.'%( 3-/( T#+"/( 3#"/( )-/G+-3/(<br />
3-/( 2%+)&.'%/( #'%( 0."%&K&02( .+H(<br />
2,.3+.%&#'/D( '#+/( 0#+,#'/( ,#&"( /+"(<br />
3-( 4".0E&G+-( K&IK#'%"-( G+-( 3-/(<br />
0#+"K-'%.4-/( /#'%( .//-d( C&-'(<br />
"20."%&/7(;'(-11-%D(/+"(3-/(f(T#+"/()-(<br />
3.( /-$.&'-D( ]( T#+"/( #'%( 99l( )+(<br />
"-%#+"( %#%.3( -'( $#N-''-7( L-( 3+')&(<br />
-'"-4&/%"-( 3-( 03+/( 4".')(<br />
!"#$%&'()*8*,*9.("*1)*"2$.34))<br />
0#+"K-'%.4-( )-( "-%#+"/( .,-K( 5fl7(<br />
U,-K( 9blD( 3-( ,-')"-)&( -/%( 3-(<br />
)-+H&M$-( T#+"( 3#"/( )+G+-3( 3-/(<br />
2%+)&.'%/( "-$03&//-'%( 3-( 03+/( 3-/(<br />
G+-/%&#''.&"-/7(^#+/(0#+,#'/()#'K(<br />
/+00#/-"( G+-( K-/( )-+H( T#+"/( /#'%(<br />
3-/(03+/(0"#0&K-/(0#+"(-11-K%+-"(3-/(<br />
/#33&K&%.%&#'/(#+(3-/(".00-3/D(0+&/G+-(<br />
$.'&1-/%-$-'%(+'-($.T#"&%2()-/(2%+)&.'%/(K#'/+3%-'%(3-+"/(K#+""&-3/(-'()2C+%(-%(-'(<br />
1&'()-(/-$.&'-7(<br />
!"#$%&'()*:*,*;)/$4*1)*"2$.34)*$.("*(3*'()4
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
$#&'/()-(96($&'+%-/7(^#+/(/+00#/#'/(G+-(3-/(bl()-(0-"/#''-/(G+&(0"-''-'%(03+/(<br />
)-(56($&'+%-/(0#+"("20#')"-(1#'%(0."%&-()-(K-+H(G+&(K#$$-'K-'%(S("20#')"-(.+(<br />
G+-/%&#''.&"-D(1#'%(G+-3G+-(KE#/-()*.+%"-D(0+&/(,&-''-'%(%-"$&'-"(3-(G+-/%&#''.&"-(<br />
C&-'(03+/(%.")7(;'(-11-%D(3-(/N/%M$-('-(0-"$-%(0./()-(K.3K+3-"(3-(%-$0/(-11-K%&1(0.//2(<br />
/+"( 3-( G+-/%&#''.&"-( $.&/( +'&G+-$-'%( 3*E-+"-( S( 3.G+-33-( 3-( /#')2( .( )2C+%2( /.(<br />
"20#'/-(-%(3*E-+"-(S(3.G+-33-(&3(3*.(%-"$&'2-(#+(.(G+&%%2(3.(03.%-I1#"$-()-(/#').4-7(<br />
O'()-"'&-"(K#'/%.%(G+&(.(0+(J%"-(<br />
2%.C3&( K#'K-"'.'%( 3-( K#$I<br />
0#"%-$-'%( )-/( 2%+)&.'%/( -/%(<br />
K-3+&( )+( $#$-'%( )-( "20#'/-7(<br />
@5l( )-/( 2%+)&.'%/( #'%( "-$03&(<br />
3-+"( G+-/%&#''.&"-( 3-( $.%&'(<br />
V-'%"-( 8E( -%( 99EX( K#'%"-( ibl(<br />
3*.0"M/I$&)&( V-'%"-( 95E( -%( 9fEX7(<br />
L.( /+00#/&%&#'( -/%( )#'K( G+-( 3-/(<br />
2%+)&.'%/( "20#')-'%( .+H(<br />
!"#$%&'()*=*,*>./)3
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
i(/+"(86(0#+"(K-3+&()-(99U7(!."(.&33-+"/D(K*-/%(.+//&(.,-K(3.(,-"/&#'(0.0&-"(G+-(3*#'(<br />
%"#+,-(3-/(%.+H(3-/(03+/(1.&C3-/D(K-+HIK&(0#+,.'%()-/K-')"-(T+/G+*-'()-//#+/()-(fl7(<br />
a-/("2/+3%.%/(.N.'%(+'(%.+H(&'12"&-+"(S(i6l(/*23M,-'%(.+('#$C"-()-(f(-'(99!(0#+"(5(<br />
-'( 99U7( L-( %.+H( 3-( 03+/( 1.&C3-( /*23-,.'%( %#+%( )-( $J$-( S( 5bl( 0#+"( 3-( /-$-/%"-(<br />
)*.+%#$'-7(<br />
L#"/G+-( 3-/( 2,.3+.%&#'/( /-( 1.&/.&-'%( /+"( 0.0&-"D( +'( ".00-3( 2%.&%( -',#N2( .+H(<br />
1#"$.%-+"/( 0#+"( G+*&3/( '*#+C3&-'%( 0./( )-( 1.&"-( 0.//-"( 3-/( G+-/%&#''.&"-/( S( 3-+"/(<br />
2%+)&.'%/(-'(1&'()-(/-$-/%"-7(^#+/('-(0#+,&#'/(K-0-').'%(0./(-'($-/+"-"(3*&$0.K%7(<br />
o"cK-( S( 3.( $&/-( -'( 3&4'-( )-/( G+-/%&#''.&"-/( )*2,.3+.%&#'( )-/( $#)+3-/D( &3( -/%(<br />
)2/#"$.&/( 0#//&C3-( )-( /-( "-')"-( K#$0%-( )-( 3*+%&3&%2( )+( ".00-37( aM/( 3#"/D( &3( -/%(<br />
&'%2"-//.'%()-(K#'/%.%-"(G+-(i6l()-/("-%#+"/(.""&,-'%(.0"M/(3-(".00-37(P3(-/%()#'K(<br />
-//-'%&-3()-(0"2,#&"(+'()23.&('#+/(0-"$-%%.'%()*-',#N-"(+'(".00-3D(/.'/(G+#&(3-(%.+H(<br />
)-("-%#+"/(/-".&%(%"M/(C./(-%D(0."(K#'/2G+-'%D(3-/("2/+3%.%/(0-+("-0"2/-'%.%&1/7(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
D" E(.%.'6./)*-)&$%$&'($)*$)5(6/'$%5&)0120)<br />
B-( KE.0&%"-( -/%( K#'/.K"2( .+( /N/%M$-( 0"#$#%&#''-3( 0"2,+( 0#+"( 3-( /-$-/%"-( )-(<br />
0"&'%-$0/(5695(V95!X7(P3(/*.4&%()-()-+H(0"#T-%/(G+&('2K-//&%.&-'%(03+/()-(%-$0/(-%()-(<br />
"213-H&#'(0#+"(3-/(K#'K-,#&"(G+-(K-+H($-'2/(-'(99U7(<br />
D"2" E(.&5$A'-&)<br />
L*#CT-K%&1( 0"&'K&0.3( )-/( .11&KE-/( #+( )-/( 0"#/0-K%+/( -/%( )*&'K&%-"( 3-/( 2%+)&.'%/( S(<br />
"20#')"-( .+H( 2,.3+.%&#'/7( !."( .&33-+"/D( K-( K.'.3( 0-"$-%( 24.3-$-'%( )-( )#''-"( 3-/(<br />
&'1#"$.%&#'/( 0"&'K&0.3-/( K#'K-"'.'%( 3-/( 2,.3+.%&#'/7( P3( .( 1.33+( %"#+,-"( 03+/&-+"/(<br />
K#'K-0%/(,&/+-3/(0#+,.'%(&33+/%"-"(3*2,.3+.%&#'D()-/(0E"./-/()*.KK"#KE-(.&'/&(G+-(3-(<br />
K#'%-'+(S(1.&"-(1&4+"-"(.+(,-"/#()+(0.0&33#'7(<br />
D"2"2" F.(%,')<br />
;%.'%()#''2(G+*&3(N(.()2TS(0.//.C3-$-'%()*.11&KE-/(03.K.")2-/().'/(3*-'K-&'%-()-(3.(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
D"2"0"2" E(.Q$')/R2)<br />
L-( K#'K-0%( )*2$#%&KF'-/( .( "-%-'+( $#'( .%%-'%&#'7( !#+"( '-( 0./( %#$C-"( ).'/( 3.(<br />
C.'.3&%2()-/(2$#%&KF'-/(G+-(3*#'(%"#+,-(C-.+K#+0(/+"(&'%-"'-%().'/(3-/(K#+""&-3/(#+(<br />
3-/( )&/K+//&#'/( &'/%.'%.'2-/D( T*.&( %#+%( )*.C#")( KE-"KE2( %"#&/( 0E#%#/( 0#"%".&%D( 3.(<br />
0"-$&M"-( 2%.'%( +'-( 0-"/#''-( .,-K( +'( 3."4-( /#+"&"-D( 3.( )-+H&M$-( .,-K( +'( ,&/.4-(<br />
.N.'%(+'(324-"(/#+"&"-(-%(+'-(%"#&/&M$-(0-"/#''-(.,-K(+'(,&/.4-("-132%.'%(+'(K-"%.&'(<br />
$2K#'%-'%-$-'%D(3*#CT-K%&1(2%.'%()*#C%-'&"(+'("2/+3%.%(0#+,.'%(/-(".00"#KE-"()-(K-(<br />
G+&(/+&%(_(<br />
( Q(h"M/(/.%&/1.&%(`(R( Q(?.%&/1.&%(`(R( Q(P'/.%&/1.&%(`(R(<br />
?&@(")*=*,*AB)/$6)4*1)*C&4#@)4*#C)D*#&/(?%.+11-"(@A!B( !.4-(i5(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
D"2"0"0" E(.Q$')/R0)<br />
L-(K#'K-0%("-//-$C3-(C-.+K#+0(S(K-3+&()+(0"#T-%('\97(L*+'&G+-(KE.'4-$-'%(-/%(G+*&3(<br />
'-(/*.4&%(03+/()-(%"#&/(0-"/#''-/()&112"-'%-/D($.&/()*+'-(/-+3-(-%($J$-(0-"/#''-(<br />
0#+"( 3-/( %"#&/( K3&KE2/7( L-/( %".&%/( )+( ,&/.4-( 2%.'%( /&$&3.&"-/D( &3( -/%( 03+/( .&/2( )-(<br />
0-"K-,#&"( 3-/( KE.'4-$-'%/( )*.%%&%+)-/( -%D( 0."( K#'/2G+-'%D( 3*&33+/%".%&#'( -/%( 03+/(<br />
/&$03-(S(K#$0"-')"-(0#+"(3-("2K-0%-+"7(!."(.&33-+"/D(3.(0-"/#''-(/+"(3-/(%"#&/(0E#%#/(<br />
0#+"".&%(S('#+,-.+(J%"-(3*+'-()-(K-33-/(0"#0#/2-/(0#+"(3-(0"#T-%('\97(<br />
( Q(h"M/(/.%&/1.&%(`(R( Q(?.%&/1.&%(`(R( Q(P'/.%&/1.&%(`(R(<br />
?&@(")*F*,*AB)/$6)*1)*
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
L-/()-+H(0"#0#/&%&#'/(G+&(#'%(2%2("-%-'+-/(/#'%(3-/(0"#T-%/('\i(-%(@7(L-(KE#&H(1&'.3(.(<br />
2%2(1.&%(.0"M/(.,#&"("2.3&/2(+'(0-%&%(/#').4-(.+0"M/()-/(2%+)&.'%/7(B-/()-"'&-"/(#'%(<br />
-+(+'-('-%%-(0"212"-'K-(0#+"(3-(/&4'-%(&33+/%"2(.,-K(3.(C#+//#3-(/+"(+'(K3.,&-"7(B*-/%(<br />
0#+"G+#&D(3*O'&%2(Y+.3&%2(.()2K&)2()*&$0"&$-"(K-%%-(,-"/&#'7(<br />
D"2"=" EB(,&$)*+,AA(.AB$)<br />
;'(03+/()-(3*&33+/%".%&#'(G+&(/-()#&%()*&'%-"0-3-"(3-(0"#/0-K%D(&3(-/%(&$0#"%.'%()*.,#&"(<br />
+'-( 0E"./-( )*.KK"#KE-( G+&( 0-"$-%%-( )*.%%&"-"( /#'( .%%-'%&#'7( B-%%-( K#+"%-( 0E"./-(<br />
)#&%(J%"-(0-"K+%.'%-(-%(1.K&3-$-'%($2$#"&/.C3-(0#+"(G+*-33-(.&%(03+/()*&$0.K%7(!."(<br />
.&33-+"/( K-"%.&'/( %-"$-/( %-3/( G+-(_( ^-( 0-")-d( 03+/WD(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
$.&/( '-( 0"2K&/-'%( 0./( G+-( K-%%-( .$23&#".%&#'( -/%( 1.&%-( 0."( 3*&'%-"$2)&.&"-( )-/(<br />
2%+)&.'%/(G+&("20#')-'%(.+H(2,.3+.%&#'/D(3-($-//.4-(-/%()#'K($#&'/(0-"/#''-37(<br />
P3( 0-+%( J%"-( &$0#"%.'%( )-( /#+3&4'-"( 3*&$0#"%.'K-( G+-( 3*&'/%&%+%&#'( 0#"%-( S(<br />
3*2,.3+.%&#'( -%( 0."( K#'/2G+-'%( S( K-( G+-( 3-/( 2%+)&.'%/( #'%( S( )&"-( K#'K-"'.'%( 3-/(<br />
-'/-&4'-$-'%/(G+*&3/("->#&,-'%7(B-K&(-/%(1.&%().'/(3-/(0E"./-/(s(-%(sP7(<br />
L.(0E"./-(sP#&/(?%.+11-"(@A!B( !.4-(i](
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!"#$(7+"/4*&";$8(7*9%+"-"$8)7+"+8".*?8+";@+&("
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
D"2"D" E(.5.&6'6./&)*$&)5(.*-6'&)?6/6&)<br />
?&@(")*I*,*>#'()
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
3*O'&%2(B#$$+'&K.%&#'7(L-(,-"/#()-/(/&4'-%/(-/%(&)-'%&G+-D(%.')&/(G+-(3-("-K%#(-/%(<br />
%#%.3-$-'%( )&112"-'%7( B-/( )-+H( ,-"/&#'/( #'%( 2%2( %-/%2-/( .+0"M/( )-( G+-3G+-/(<br />
2%+)&.'%/()-(3.(:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
D"2"U" N%876.(,'6./&)5.&&6
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
)-( %#+KE-"( 3*-'%&-"( )-( 3.( 0#0+3.%&#'( ,&/2-( -%( G+-( '#+/( ,#+3#'/( 2,&%-"( )*.,#&"( )-/(<br />
/&4'-%/( &'+%&3&/2/( -'( G+.'%&%2( %"#0( &$0#"%.'%-D( '#+/( .,#'/( )2K&)2( )-( 0.//-"(<br />
K#$$.')-(0#+"(9666(0&MK-/7(B-%%-(G+.'%&%2('#+/(0.".&//.'%(".&/#''.C3-D(-33-('#+/(<br />
0-"$-%( 24.3-$-'%( )-( '*+%&3&/-"( G+-( B:=( i]67I( /+"( 3-/( B:=( 8667I( .33#+2/( 0#+"(<br />
3*&$0"-//&#'( 0"#$#%&#''-33-( 1.&%-( 0."( 3*O'&%2( Y+.3&%27( ?&( )*.+%"-/( /&4'-%/( /#'%(<br />
&$0"&$2/( ).'/( 3-( 1+%+"D( K-( '#$C"-( -H02"&$-'%.3( /-".( .).0%2( -'( 1#'K%&#'( )-/(<br />
K#'/%.%/(-11-K%+2/7(<br />
D"0" I6*8.)<br />
L*#CT-K%&1()*+'-(,&)2#(-/%(0"&'K&0.3-$-'%(&'1#"$.%&17(;'(-11-%D(3-(C+%(-/%()-(3.(3.&//-"(<br />
0-').'%(+'-(3#'4+-()+"2-(/+"(3-(/&%-(&'/%&%+%&#''-3()-(3.(:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!"#$%"&'(')'*+,-./"01-+'2',"1.%',13&.%.'4"+5'$"'6147-'<br />
8' ' 9%:0%&.' ;1.%:0%&.'4%'<br />
$"',-./"01-+'<br />
9( ;C0"&$-"(/#'(0#&'%()-(,+-(0#+"(DE.F+-($#)+3-(-'(<br />
1&'()-(/-$-/%"-(<br />
?'4%'<br />
,1$1D.%5'<br />
( ( G( ( ( ( ( (<br />
5( H+-/%&#''.&"-(-'(3&4'-I&',&%.%&#'(0."($.&3( ( ( G( ( ( ( ( (<br />
5( H+-/%&#''.&"-()&/0#'&J3-(3-(K#+"(F+&(/+&%(3*-C.$-'( ( ( G( ( ( ( ( (<br />
5( L-$03&(-'(96($&'+%-/( ( ( G( ( ( ( ( (<br />
5( M23.&(N$#$-'%()-/(2,.37O(-'%"-(-C.(-%("-%#+"()-/(<br />
'#%-/P(<br />
( ( G( ( ( ( ( (<br />
Q( A&/-(-'(3&4'-(/#+%-'+-(0."()&112"-'%/(.D%-+"/()-(3.(<br />
:;!(<br />
( ( G( ( ( ( ( (<br />
Q( ;D#3#4&F+-( ( ( G( ( ( ( ( (<br />
Q( R&J-"%2()+($#$-'%()-("20#'/-( ( ( G( ( ( ( ( (<br />
Q( S-$0/()-("213-C&#'(/+11&/.'%( ( ( G( ( ( ( ( (<br />
Q( T'#'U$.%(N0./()-(3&-'('#$V"20#'/-/P( ( ( ( ( G( ( ( (<br />
@( W%&3&/.%&#'()-/()#''2-/(O(1#"$.%-+"/(I("-/07(1&3&X"-/(I(<br />
"-/07(W;L(<br />
( ( ( ( ( G( G( G(<br />
@( L-%#+"(.+C(2%+)&.'%/( ( ( ( ( ( G( ( (<br />
@( T$23&#"-"(3*-'/-&4'-$-'%( ( ( ( G( ( G( G( G(<br />
@( !"#$#+,#&"(-%(,.3#"&/-"(3.(F+.3&%2()-(3*-'/-&4'-$-'%( G( G( ( ( ( ( ( (<br />
@( Y$0#"%.'D-()-(3Z2,.37(0#+"(3Z&'/%&%+%&#'( G( G( ( ( ( ( ( (<br />
[( B#'1&)-'%&.3&%2( ( ( ( ( G( ( ( (<br />
\(R.('+$2"#%.%&#'(+%&3&/2-().'/(3-(%.J3-.+(D#""-/0#')(](D-33-()-/(F+-/%&#'/(9(]([()-(3.(0.4-(0"2D2)-'%-7(<br />
(<br />
:;!(?'<br />
4EB
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!"#"#" $%&'()*+,-*<br />
C-( /D2'."&#( 42'2".3( )+( 0"-$&-"( 0"#E-%( /-".&%( F./2( /+"( +'-( )&/D+//&#'( -'%"-( )-+G(<br />
2%+)&.'%/7( H.'/( D-( )&.3#4+-I( 3.( $#&%&2( )-/( &'1#"$.%&#'/( $-'%&#''2-/( ).'/( 3-(<br />
%.F3-.+(J(/-".&%()#''2-7(;'(D#$032$-'%I()-/( 13./K/(&'%"#)+&%/(0."(3*-'%"-%&-'()-/(<br />
)-+G( 0-"/#''-/( /-".&-'%( 1.&%/( -'( $#'%".'%( )*.+%"-/( .D%-+"/( L"-/0#'/.F3-( )-(<br />
$#)+3-MN;OM1&3&P"-I("-D%-+"I(QR(0#+"()#''-"(+'(/+0032$-'%()*&'1#"$.%&#'(-%(.&'/&(<br />
D#+,"&"(3*-'/-$F3-()-/(-G03&D.%&#'/(D#'D-"'.'%(3*2,.3+.%&#'()-/($#)+3-/(-'(3&4'-7(<br />
C-(D.'%#'()-(#'()-("-$03&"(/.()2D3.".%&#'()*&$0U%(-'(3&4'- (9@ 7(<br />
!"#"." $%&'()*+,#*<br />
N'-()-+G&P$-(,."&.'%-I().'/(3.V+-33-(&3(W(.+".&%($#&'/()*&'%-".D%&#'I(D#'/&/%-".&%(X(<br />
.11&DK-"( )&112"-'%-/( V+-/%&#'/( X( 3*2D".'( -%( X( 1&3$-"( 3-/( "20#'/-/( )-/( &'%-",-'.'%/(<br />
D&%2/().'/(3-(%.F3-.+()-(3.(0.4-(0"2D2)-'%-7(N'(/#+/Y%&%"-(/-".&%(.E#+%2()-($.'&P"-(X(<br />
0"2D&/-"(3-('#$(-%(3.(1#'D%&#'()-(3.(0-"/#''-(V+&(/*-G0"&$-7(<br />
C*NZTC( .( "2.3&/2( )-/( ,&)2#/ 9[ ( )-( 0"2/-'%.%&#'/( 0#+"( DK.D+'( )-/( A./%-"( V+&( /#'%(<br />
0"#0#/2/().'/(3-+"(&'/%&%+%&#'()-(3.($.'&P"-()2D"&%-(D&Y)-//+/I(X(3.()&112"-'D-(V+*&3(<br />
'*W(.(V+*+'-(/-+3-(0-"/#''-(V+&(/*-G0"&$-(/+"(D-/(,&)2#/7(<br />
!"#"/" 0123(45&+6*7*8(+(%*()*1)9:(6*:&;%*39*6;5)(*
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!."(3.(/+&%-I(&3(1.+)".(/*#DD+0-"()-(3.("2.3&/.%&#'(X(0"#0"-$-'%(0."3-"()-(3.(,&)2#7(e(<br />
'#+,-.+I(&3(1.+)".()21&'&"(V+&(0-+%(/-(DK."4-"()+($#'%.4-7(N'-(0-"/#''-()-(3*N'&%2(<br />
B#$$+'&D.%&#'( .W.'%( 3*K.F&%+)-( )-( "2.3&/-"( D-( 4-'"-( )-( ,&)2#( .( -/%&$2(<br />
3*&',-/%&//-$-'%( X( )-+G( /-$.&'-/( X( %-$0/( 03-&'( 0#+"( 1&'.3&/-"( +'( %-3( 0"#E-%( 0#+"(<br />
V+-3V+f+'(.W.'%()-/(D#$02%-'D-/().'/(D-()#$.&'-(.&'/&(V+-(3-/(#+%&3/('2D-//.&"-/(<br />
0#+"(#F%-'&"(+'("2/+3%.%(0"#1-//&#''-37(B-(%".,.&3(0#+"".&%(24.3-$-'%(^%"-(1.&%(0."(<br />
+'( 0"#1-//&#''-3( -G%-"'-( #+( 0."( +'( $-$F"-( )-( 3*N'&%2( _+.3&%2( /*&3( -'( .( 3-/(<br />
D#$02%-'D-/7(<br />
C-()-"'&-"(0#&'%(X("-3-,-"(-/%(+'-(V+-/%&#'(D#'D-"'.'%(3-(F+)4-%7(T3(/*.4&%(3X()*+'(<br />
0#&'%(X()2D&)-"("-3.%&,-$-'%(%U%()-($.'&P"-(X(0#+,#&"(3-(1.&"-(1&4+"-"().'/(3-(F+)4-%(<br />
.''+-37( ;'( -11-%I( 3-/( )&112"-'%-/( 0#//&F&3&%2/( 0"#0#/2-/( 0#+"( 3.( 0K./-( 0".%&V+-( )+(<br />
0"#E-%( 0-+,-'%( D#g%-"( 03+/( #+( $#&'/( DK-"( /&( 3*#'( /#+/Y%".&%-( 3-( %#+"'.4-( -%( 3.(<br />
"2.3&/.%&#'(#+('#'7(!."(.&33-+"/I(3.(D#'%".&'%-(F+)42%.&"-(0#+"".&%(.+//&(1.&"-(0-'DK-"(<br />
3.(F.3.'D-(-'(1.,-+"()*+'-(/#3+%&#'($#&'/(D#g%-+/-(#+(%#+%(/&$03-$-'%(.F#").F3-(<br />
0."(3*N'&%2(_+.3&%27(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
>" ?&+@3;65&+*<br />
e+( %-"$-( )*+'( 0"-$&-"( /-$-/%"-( .,-D( D-( '#+,-.+( /W/%P$-( -'( 3&4'-I( 03+/&-+"/(<br />
D#'/%.%/(0-+,-'%(^%"-(1.&%/7(<br />
B-%%-(0"-$&P"-(-G02"&-'D-(.(0"&/(03+/()-(%-$0/(V+-(D-(V+*&3('*-'(1.+)".(0#+"(3-/(<br />
0"#DK.&'/( /-$-/%"-/7( Z#+/( .,#'/( -11-D%&,-$-'%( )g( .00"&,#&/-"( %#+%-/( 3-/(<br />
1#'D%&#''.3&%2/()-/()&112"-'%/(#+%&3/(+%&3&/2/(-%(D"2-"()-/()#D+$-'%/(.&).'%(.+(F#'(<br />
1#'D%&#''-$-'%()-(3.(4-/%&#'()+(/W/%P$-()*2,.3+.%&#'(-'(3&4'-7(h#+%(D-D&(.(2%2(1.&%(<br />
).'/(3*#0%&V+-()-(0#+,#&"(1.D&3&%-"(.+($.G&$+$(3-/(#02".%&#'/(0#+"(3-/(0"#DK.&'/(<br />
/-$-/%"-/7(<br />
C-/( )23.&/( #'%( 0."1#&/( 2%2( /-""2/I( $.&/( '#+/( .,#'/( 43#F.3-$-'%( 0+( %-'&"( '#/(<br />
-'4.4-$-'%/7(N'-(/-+3-(-GD-0%&#'(](3-/("-%#+"/()-/("2/+3%.%/7(;'(-11-%I(/+&%-(X(+'-(<br />
"-D#'/%"+D%&#'(%#%.3-()+(1&DK&-"(0-"$-%%.'%()-(1.&"-(D-(%".,.&3(-%(X(+'-(D#$0.".&/#'(<br />
-'%"-()-+G($.'&P"-/()*-11-D%+-"(D-()-"'&-"(/+"()-+G(#+%&3/()&112"-'%/(.1&'()-(DK#&/&"(<br />
3.(/#3+%&#'(#0%&$.3-I('#+/(.,#'/(0"&/()+("-%.")7(<br />
Z#+/( .,#'/( 0."( .&33-+"/( "-'D#'%"2( )-/( )&11&D+3%2/( V+.'%( X( 3.( 0"#D2)+"-7( H-/(<br />
.E+/%-$-'%/(-%()-/(0"2D&/&#'/(#'%()g(^%"-(.00#"%2/(3#"/()-(3.($&/-(-'(03.D-I(.1&'()-(<br />
0#+,#&"("2.3&/-"(3-(%".,.&3(-'("20#').'%(.+($&-+G(.+G(-G&4-'D-/(0"2)21&'&-/7(<br />
C-(1.&%(V+-(?+",-WA#'i-W(.,.&%()2EX(2%2(+%&3&/2(0#+"()*.+%"-/(2,.3+.%&#'/(.(1.D&3&%2(3.(<br />
$&/-(-'(03.D-()+(/W/%P$-7(B-D&(.(0-"$&/()-('#+/(1.$&3&."&/-"(03+/(".0&)-$-'%(.,-D(<br />
D-%( #+%&3I( 0+&/V+-( '#+/( .,&#'/( )2EX( D#''.&//.'D-( )-( D-"%.&'/( 1#'D%&#''-$-'%/( -%(<br />
/+F%&3&%2/( )-( D-%%-( 03.%-Y1#"$-( )-( /#').4-/( -'( 3&4'-7( A.34"2( D-%( .,.'%.4-( .+(<br />
)20."%I('#+/(.,#'/(%#+%()-($^$-("-'D#'%"2()-/(0"#F3P$-/(%-DK'&V+-/(V+-('#+/(<br />
.,#'/( )g( "2/#+)"-( -'( D#+"/( )-( "#+%-7( e1&'( )-( 0#+,#&"( %&"-"( 0"#1&%( )-( 3*-G02"&-'D-(<br />
.DD+$+32-(.+(D#+"/()-(D-(0"-$&-"(/-$-/%"-I(%#+%-/(D-/()2$."DK-/(#'%(2%2()2D"&%-/(<br />
).'/(+'($2$#7(<br />
B#'D-"'.'%(3.(0"#$#%&#'I(D-(%".,.&3(.(2%2(3*#DD./&#'()-(%-/%-"(03+/&-+"/(D.'.+G(%-3/(<br />
V+-( 3-( E#+"'.3( )-( 3*&'/%&%+%&#'I( 3-( /&%-( &'/%&%+%&#''-3( .&'/&( V+-( 3-/( 0.''-.+G(<br />
)*.11&DK.4-/I( $.&/( &3( .( /+"%#+%( 0-"$&/( )-( "-')"-( 3*2,.3+.%&#'( -'( 3&4'-( 03+/( ,&/&F3-(<br />
0#+"( 3-/( 2%+)&.'%/7( Z#+/( '*.,#'/( %#+%-1#&/( 0./( -'D#"-( 3-( "-D+3( '2D-//.&"-( 0#+"(<br />
0#+,#&"($-/+"-"(3*-11-%(V+*.(-+(D-%%-(0"#$#%&#'I('#%.$$-'%(/+"(3-/(%.+G()-("-%#+"/(<br />
V+&( #'%( 2%2( %"P/( /.%&/1.&/.'%/7( Z#+/( -/02"#'/( D#'%&'+-"( X( .,#&"( )-( %-3/( "2/+3%.%/I(<br />
,#&"-( $^$-( )-( $-&33-+"/I( 0#+"( 3-( /-$-/%"-( 95!( 4"jD-( .+G( /&4'-%/( V+&( /-"#'%(<br />
)&/%"&F+2/7(<br />
C*#FE-D%&1( 0#+"( 3-/( /-$-/%"-/( X( ,-'&"( /-".&%( )-( 0#+,#&"( 4.")-"( +'( %.+G( )-( "-%#+"/(<br />
/&$&3.&"-7(T3(1.+)".&%()#'D(D#'%&'+-"(X(1.&"-()-(3.(0"#$#%&#'I('#%.$$-'%(-'($-'.'%(<br />
)-/( "213-G&#'/( X( 0"#0#/( )-( 3*&33+/%".%&#'( -%( 3.( 0K"./-( )*.DD"#DK-( X( +%&3&/-"( 0#+"( +'(<br />
2,-'%+-3(.+%"-(/&4'-%7(T3(/-".&%(0"#F.F3-$-'%(E+)&D&-+G()-(D"2-"(V+-3V+-(DK#/-()-(<br />
F&-'()&112"-'%(0#+"('-(0./()#''-"(+'-(&$0"-//&#'()-()2EX(,+(V+&(0#+"".&%(.,#&"(+'(<br />
-11-%(3.//.'%(0#+"(3-/(2,.3+.%&#'/7(<br />
N'(4".')(%".,.&3(X("2.3&/-"(-'D#"-(D#'D-"'.'%(3*&'1#"$.%&#'(/+"(3-/(2,.3+.%&#'/()-/(<br />
$#)+3-/( -/%( 3.( ,&)2#7( T3( W( .( 3X( $.%&P"-( X( F&-'( )-/( "213-G&#'/( -%( 3*-11#"%( V+&( -'(<br />
)2D#+3-".()-$.')-".(0.//.F3-$-'%()-("-//#+"D-/(-'(%-$0/7(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
H*.+%"-/( D.'.+G( 0#+"".&-'%( 24.3-$-'%( ^%"-( )2,-3#002/7( ;'( 0"-'.'%( -G-$03-( /+"(<br />
3*NZTCI( &3( /-".&%( &'%2"-//.'%( )-( D"2-"( )-/( .11&DK-/( 0-"$.'-'%-/( ).'/( 3-/( /.33-/( )-(<br />
D#+"/(.1&'()*&'1#"$-"(2%+)&.'%/(-%(1#"$.%-+"/7(C-(%".,.&3()-(D#'D-0%&#'()-$.')-".(<br />
)-(3.(0-"%&'-'D-(-%()-(3.(D#'D&/&#'(.1&'()*^%"-(D#$03-%(%#+%(-'("-/%.'%(F"-1(-%().'/(<br />
+'( /%W3-( .%%".D%&17( T3( /-".&%( .+//&( -',&/.4-.F3-( )-( D#33.F#"-"( .,-D( 3-( B#$&%2( )-/(<br />
;%+)&.'%/( )-( 3.( :;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
A" B5C35&D%9:E5(*<br />
B#+",#&/&-"I(=7(:7I(n(B#+",#&/&-"I(=7(e7(L5668R7(!"#$%&'()*')+#",($%-./)!"%-0%1#'2)<br />
03-0(1$4)($)3'$%546(C.+/.''-I(?+&//-](C;!(;)&%&#'/(C#&/&"/(-%(!2).4#4&-7(<br />
B#+",#&/&-"I(=7I(B#+",#&/&-"I(=7I(n(A&G(n(O-$&G7(L566oR7(7#",($%-.6(C-(A#'%Y/+"Y<br />
C.+/.''-I(?+&//-](C;!(;)&%&#'/(C#&/&"/(-%(!2).4#4&-(?e7(<br />
H-%"#pI(!7(L566dR7(89#5'#$%3-)*(4)(-4(%.-(+(-$4/)*()5#)03-$"#%-$()#*+%-%4$"#$%9():)<br />
5;#+$?(4)($)5
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
F" G@&+&D%9:E5(*<br />
F"-" H9C3(*#&/(?%.+11-"(-'(D#33.F#".%&#'(.,-D(3*N'&%2(_+.3&%2()-(3.(:;!(#&/(?%.+11-"(<br />
m".0K&V+-(J(](h-$0/()-("20#'/-(0#+"(+'(V+-/%&#''.&"-(77777777777777777777777777777777777777777(5y(<br />
B"22(0."(=".'>#&/(?%.+11-"(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
m".0K&V+-(@(](A#$-'%()-("20#'/-(77777777777777777777777777777777777777777777777777777777777777777777777777(5o(<br />
B"22(0."(=".'>#&/(?%.+11-"(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
J++(4(6*<br />
K;(6)5&++95%(*)L:(*
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
���������������������������������������������������������������������<br />
������������������������������������������������������������������<br />
�<br />
�<br />
������������������������������������������������<br />
�<br />
�������<br />
����� ��������<br />
��������<br />
�����������<br />
����������� �������<br />
�����<br />
���<br />
����<br />
���<br />
��������<br />
������������<br />
��������� ��������<br />
��������� ���������<br />
���� ����� ����� ����� ����� ����� ����� ����� �����<br />
���� ����� ����� ����� ����� ����� ����� ����� �����<br />
���� ����� ����� ����� ����� ����� ����� ����� �����<br />
�<br />
�������������������������������������������<br />
�<br />
�������<br />
����� ��������<br />
��������<br />
�����������<br />
����������� �������<br />
�����<br />
���<br />
����<br />
���<br />
��������<br />
������������<br />
��������� ��������<br />
��������� ���������<br />
���� ����� ����� ����� ����� ����� ����� ����� �����<br />
�<br />
�������������������������<br />
������������������������������������������������������������������<br />
�<br />
�<br />
����������������������� �����������������������������������������<br />
�<br />
�������<br />
����� ��������<br />
��������<br />
�����������<br />
����������� �������<br />
�����<br />
���<br />
���<br />
��������<br />
�������� ����<br />
���������<br />
��������� ���������<br />
������������������������������������������������������������������<br />
����� ����� ����� ����� ����� ����� �����<br />
����������������������������������������������<br />
����������������������������������������������������������������<br />
����� ����� ����� ����� ����� ����� �����<br />
������������������������������������������������������������������������<br />
����� ����� ����� ����� ����� ����� �����<br />
�����������������<br />
�<br />
����������������������� �������������������������������������<br />
�<br />
������� �������<br />
������� ����� ��������<br />
����� ��������<br />
�����������<br />
����������� �������<br />
�����<br />
���<br />
���<br />
��������<br />
������������<br />
���������<br />
��������� ���������<br />
����������������������������������������������������������������<br />
����� ����� ����� ����� ����� ����� ����� �����<br />
�<br />
����������������������� �������������������������������������<br />
�<br />
�������<br />
�������<br />
����<br />
����� ��������<br />
���������<br />
��������<br />
��������<br />
�����������<br />
����������� �������<br />
�����<br />
���<br />
���<br />
��������<br />
������������<br />
���������<br />
��������� ���������<br />
�����������������������������������������������������������������<br />
����� ����� ����� ����� ����� ����� ����� �����<br />
���������<br />
�<br />
�����������������������������<br />
Page 2<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
(<br />
���������������������������������������������������<br />
�<br />
Page 3<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
?&;%%5(3* (+=&L1* 7* )&;6* 3(6* 1);
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
Retour sur l'évaluation<br />
Les formateurs concernés se verront communiquer les résultats, ceuxci<br />
pourront faire l'objet de propositions d'améliorations qui seront, le<br />
cas échéant, envisagées pour le prochain semestre d'étude. Ces<br />
propositions et ces réflexions pourront servir à la fois à l'amélioration<br />
de l'organisation et de la structure de chaque module mais aussi<br />
plus globalement à l'amélioration du pilotage de la formation de base à<br />
la <strong>HEP</strong> <strong>Vaud</strong>.<br />
Par ailleurs, pour chaque module que vous aurez évalué, vous<br />
recevrez un retour de la part du responsable de module concerné. Ce<br />
retour contiendra notamment les éventuelles mesures d'améliorations<br />
envisagées.<br />
Nous espérons vivement que ce nouveau système d'évaluation rendra<br />
l'évaluation plus agréable et plus facile pour vous.<br />
Vous trouverez de plus amples informations du l'Extranet (voir détails)<br />
En vous souhaitant d'ores et déjà des bons examens, nous vous<br />
prions d'agréer, chères étudiantes, chers étudiants, nos salutations les<br />
meilleures.<br />
Philippe R. Rovero<br />
Professeur et responsable de l'Unité qualité<br />
<strong>HEP</strong> <strong>Vaud</strong><br />
!<br />
(<br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!"#$%&'#()*+,)-./#(,+,)*+,).&%*'0(&,)<br />
Graphique D".0E&F+-(-G%".&%()+(H".,.&3()-($.%+"&%2(0"#1-//&#''-33-(I#$$-"I&.3-()-(J./$&'.(BE.0+&/(<br />
1: Evolution des réponses des étudiants au fil des jours avec les rappels envoyés.<br />
Mise en ligne d’un système d’évaluation des<br />
enseignements par les étudiants à la <strong>HEP</strong> <strong>Vaud</strong><br />
:;!(
!"#$#%&#'()*+'('#+,-.+()&/0#/&%&1()*2,.3+.%&#'(-'(3&4'-( 56768795(<br />
!"#$%&'(#'&()*+$&(',#(-..-"*(/-0,(&'(1223(456('0(789"$'"(:;#&/(?%.+11-"(@A!B( ( !.4-(