Scribd Logo
Upload

Welcome to Scribd!

  • 47 views

    Leadership On Go....

    Uploaded by

    hemang.shroff
    This document provides a table of contents for a book titled "Leadership on the GO" which contains various short activities focused on leadership skills like communication, team building, problem solving and relationships. The activities are designed for classroom use and take 15 minutes or less. Each activity includes directions, discussion questions and references leadership standards. The book was created by the LifeKnowledge Center for Agricultural Education to support FFA programs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Leadership On Go....

    Uploaded by

    hemang.shroff
    47 views108 pages
    This document provides a table of contents for a book titled "Leadership on the GO" which contains various short activities focused on leadership skills like communication, team building, problem solving and relationships. The activities are designed for classroom use and take 15 minutes or less. Each activity includes directions, discussion questions and references leadership standards. The book was created by the LifeKnowledge Center for Agricultural Education to support FFA programs.

    Original Description:

    a beautiful book containing various activities to help one develop leadership skills

    Original Title

    Leadership on Go....

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document provides a table of contents for a book titled "Leadership on the GO" which contains various short activities focused on leadership skills like communication, team building, problem solving and relationships. The activities are designed for classroom use and take 15 minutes or less. Each activity includes directions, discussion questions and references leadership standards. The book was created by the LifeKnowledge Center for Agricultural Education to support FFA programs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    47 views108 pages

    Leadership On Go....

    Uploaded by

    hemang.shroff
    This document provides a table of contents for a book titled "Leadership on the GO" which contains various short activities focused on leadership skills like communication, team building, problem solving and relationships. The activities are designed for classroom use and take 15 minutes or less. Each activity includes directions, discussion questions and references leadership standards. The book was created by the LifeKnowledge Center for Agricultural Education to support FFA programs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 108

    "MJCSBSZPGBDUJWJUJFT

    GPSJOTJEFBOEPVUTJEF
    UIFDMBTTSPPN

    -JTUFO-FBE-FBSO

    "MJCSBSZPGBDUJWJUJFT
    GPSJOTJEFBOEPVUTJEF
    UIFDMBTTSPPN

    1DWLRQDO))$2UJDQL]DWLRQ
    ,WLVLOOHJDOWRUHSURGXFHFRSLHVRIWKLV
    PDWHULDOZLWKRXWZULWWHQSHUPLVVLRQIURP
    WKH1DWLRQDO))$2UJDQL]DWLRQRUWKH
    8QLWHG6WDWHV'HSDUWPHQWRI$JULFXOWXUH

    -JTUFO-FBE-FBSO

    -FBEFSTIJQ0OUIF(P'PSFXPSE

    ,,

    -JTUFO-FBE-FBSO

    -FBEFSTIJQPOUIF(0
    'R\RXHYHUKDYHPLQXWHVOHIWLQFODVVDQG
    GRQWKDYHWLPHWRVWDUWDQHZOHVVRQ"2UGR\RX
    ZDQWWRJLYH\RXUVWXGHQWVDFKDQFHWROHDGGXULQJ
    ))$HYHQWVRUZKLOHSUDFWLFLQJIRU&'(HYHQWV"
    /HDGHUVKLSRQWKH*2LVDJUHDWJUDEDQGJR
    UHVRXUFHWRKDYHDW\RXUILQJHUWLSV
    2XUEUDLQVDUHZLUHGWREHVWLPXODWHGLQWKUHH
    ZD\V$XGLWRULO\YLVXDOO\DQGNLQHVWKHWLFDOO\
    7KHVHDFWLYLWLHVHPSKDVL]HRQHRUPRUHRIWKHVH
    DUHDVDVZHOODVLGHQWLI\DQGEXLOGRQVWXGHQWV
    QDWXUDOLQWHOOLJHQFHV7KHDFWLYLWLHVZLWKLQDOORZ
    \RXUVWXGHQWVWR/LVWHQ/HDG/HDUQ/LVWHQWRWKH
    GLUHFWLRQVOHDGE\GRLQJWKHDFWLYLW\DQGOHDUQ
    DERXWWKHPVHOYHVDQGRQHDQRWKHUZKLOHKRQLQJ
    WKHLUOHDGHUVKLSVNLOOVHWV$FWLYLWLHVIRFXVDURXQG
    LFHEUHDNHUVWHDPEXLOGLQJFRPPXQLFDWLRQ
    UHODWLRQVKLSVDQGSUREOHPVROYLQJ
    $VDYDOXDEOHZD\WRSURYLGHOHDGHUVKLSH[SHULHQFHVLQWKLVIDVWSDFHGZRUOGWKLVDFWLYLW\
    ERRNZDVFUHDWHGE\WKH/LIH.QRZOHGJH&HQWHUIRU$JULFXOWXUDO(GXFDWLRQDVDVSHFLDOSURMHFW
    RIWKH1DWLRQDO))$)RXQGDWLRQZLWKWKHVXSSRUWRIRXU)RXQGLQJ3DUWQHUV-RKQ'HHUH
    0RQVDQWRWKH1DWLRQDO3RUN%RDUG&KHYUROHW&DUJLOODQGRXU6XSSRUWLQJ3DUWQHU0HULDO
    $UH\RXORRNLQJIRUDJUHDWDFWLYLW\WRLQFRUSRUDWHFRPPXQLFDWLRQRUWHDPEXLOGLQJ"/RRN
    QRIXUWKHU(DFKDFWLYLW\LVEURNHQRXWLQWRWKHIROORZLQJVHFWLRQV
      7LWOH1DPHRIDFWLYLW\
      'HVFULSWLRQ$EULHIVXPPDU\RIWKHDFWLYLW\
      'LUHFWLRQV6WHSE\VWHSGLUHFWLRQVDERXWKRZWRSHUIRUPWKHDFWLYLW\
      7KH&RQQHFWLRQ4XHVWLRQV7RKHOSWKHSDUWLFLSDQWVGHEULHIWKHH[SHULHQFH
      :UDSXS$VFULSWHGFRQFOXVLRQWRHQGWKHDFWLYLW\
      4XLFN5HIHUHQFH3URYLGHVWKHDPRXQWRIWLPHQHHGHGWKHQXPEHURIVWXGHQWVWREH
    LQYROYHGLGHDVDERXWZKHUHDQGZKHQWRXVHWKHDFWLYLW\DQGDQ\VXSSOLHVQHHGHG
      5HVHDUFK0HWKRGRORJLHV/LVWVWKHFRUUHODWLRQVEHWZHHQWKH/LIH.QRZOHGJH3UHFHSWDQG
    6LJQRI6XFFHVVDFWLYLWLHVDVZHOODVWKHPRGDOLWLHVDQGPXOWLSOHLQWHOOLJHQFHVLQYROYHG
      /LIH.QRZOHGJH5HIHUHQFH3URYLGHVD/LIH.QRZOHGJHOHVVRQQXPEHUWRVXSSOHPHQWWKH
    /HDGHUVKLSRQWKH*2DFWLYLW\

    ,9

    -JTUFO-FBE-FBSO

    -FBEFSTIJQ0OUIF(P5BCMFPG$POUFOUT
    -JTUFO-FBE-FBSO

    $POUFOUT

    &UD]\&RPPXQLFDWLRQ 
    &RPPXQLFDWLRQ$6 
    3LFWXUH3HUIHFW&RPPXQLFDWLRQ 

    'PSFXPSE
    /HDGHUVKLSRQWKH*2,,,

    *DF#SFBLFST

    4XHVWLRQLQJ6NLWV 
    7HOHSKRQHDQGWKH5XPRU0LOO 
    7KLQNRQ<RXU)HHW 
    &RPPXQLFDWLRQ$6 

    $VVHVVLQJ2WKHUV$VVHWV 
    $%&VRI0( 

    3FMBUJPOTIJQT

    *RW<RXU1XPEHU 

    %DUULHU%DOORRQ%DVK 

    0DWFK 0HHW 

    /HDQRQ0H 
    5HODWLRQVKLSV$6 

    5FBN#VJMEJOH

    %DUWHULQJ%DVLFV 

    $WWLWXGH&KHHU 

    5HODWLRQVKLSV$6 

    &DW*RW<RXU7RQJXH" 

    :KDWLV&LYLF/HDGHUVKLS" 

    &UHDWH<RXU2ZQ
    7HDP%XLOGLQJ$FWLYLW\ 

    1SPCMFN4PMWJOH

    7UXVW7UDLO 

    7DONLWRXW 

    +XPDQ&KHFNHUV 

    5HODWLRQVKLSV$6 

    /HDGHUYV)ROORZHU 

    7HQQLV%DOO&ROODERUDWLRQ 

    /HDGHUVKLS,VODQG 

    %RJJOLQJ%UDLQVWRUPLQJ 

    7HDP%XLOGLQJ$6 

    'HWHUPLQLQJ\RXU'HVWLQDWLRQ 

    6WDU3RZHU 

    +LGGHQ3LUDWH0DS 

    7HDP%XLOGLQJ$6 

    $PNNVOJDBUJPO
    0DNLQJ3% - 
    0RGHOLQJ&RPPXQLFDWLRQ 

    3\UDPLGRI7HDPZRUN 
    /LIHLVD5RDG7ULS 

    (MPTTBSZ
    

     

    &RPPXQLFDWLRQ7ULDO 
    &RPPXQLFDWLRQ$6 
    &RPPXQLFDWLRQ$6 
    &RPPXQLFDWLRQ$6 
    &RPPXQLFDWLRQ$6 
    &RPPXQLFDWLRQ$6 

    9,

    -JTUFO-FBE-FBSO

    *DF#SFBLFST
    t "TTFTJOH0UIFST"TTFUT
    t "#$TPG.F
    t (PU:PVS/VNCFS
    t .BUDIBOE.FFU

    'PDVT"SFB*DF#SFBLFST

    -JTUFO-FBE-FBSO

    'PDVT"SFB*DF#SFBLFST"TTFTTJOH0UIFST"TTFUT
    -JTUFO-FBE-FBSO

    *DF#SFBLFST

    "TTFTTJOH0UIFST
    "TTFUT
    %FTDSJQUJPO
    7KURXJKRXWOLIHLWLVFULWLFDOWREHDEOHWRDVVHVVWKH
    SHUVRQDODVVHWVRIWKRVHDURXQGXVZKHWKHUZHQHHG
    WRILQGWKHULJKWSHUVRQWRKLUHRUWDNHDGYDQWDJH
    RIDVNLOORUWUDGHVRPHRQHDURXQGXVSRVVHVVHV
    :HFDQEXLOGWHDPVEDVHGRQRWKHUVVNLOOVHWV7KLV
    DFWLYLW\LVJRLQJWRIRFXVRQILQGLQJEULQJLQJRXWDQG
    XQGHUVWDQGLQJVWUHQJWKVRIRWKHUVDQGWKHLUKXPDQ
    SRWHQWLDO'XULQJWKLVDFWLYLW\VWXGHQWVGLVFRYHUKRZ
    GLIILFXOWLWFDQEHWRLGHQWLI\WKHVWUHQJWKVRIWKH
    SHRSOHDURXQGWKHP

    %JSFDUJPOT
     3DVVRXWRQHLQGH[FDUGWRHDFKVWXGHQW
     ,QVWUXFWHDFKVWXGHQWWRWKLQNDERXWKLVKHU
    SHUVRQDODVVHWVVWUHQJWKVKXPDQSRWHQWLDODQG
    WRLGHQWLI\WKHLUEHVWDVVHWV
     1RZQDUURZLWGRZQWRRQHDQGXVLQJFDSLWDO
    OHWWHUVLQVWUXFWWKHPWRZULWHWKHDVVHWRQWKHLU
    LQGH[FDUG

    2VJDL3FGFSFODF

     7RVLJQLI\FRPSOHWLRQDVNWKHPWRSODFHDSHQFLO
    EHKLQGWKHLUHDUZKHQWKH\DUHGRQH

    7LPHPLQ

     &ROOHFWHDFKSHUVRQVFDUG

    1XPEHURI6WXGHQWV 

     1RZZHDUHJRLQJWRVHHKRZJRRGZHDUHDW
    LGHQWLI\LQJKXPDQSRWHQWLDO

    8VHIXOQHVV

     6KXIIOHWKHGHFNRIVWUHQJWKV
     *LYHHDFKVWXGHQWEDFNDGLIIHUHQWFDUG $VNWKH
    VWXGHQWVWRUDLVHWKHLUKDQGLIWKH\UHFHLYHGWKHLU
    RZQFDUGEDFNDQGVZDSLWZLWKDQRWKHU
     <RXZLOOKDYHVHFRQGVWRWUDFNGRZQWKHRZQHU
    RIWKHFDUGLQ\RXUKDQGDVNLQJRQO\\HVRUQR
    TXHVWLRQV <RXPD\QRWDVNSRLQWHGTXHVWLRQV
    VXFKDV,VWKLV\RXUFDUG"7U\WRDVNTXHVWLRQV
    DERXWWKHVWUHQJWK

     
    %HIRUHDJURXSDFWLYLW\
    UHTXLULQJFRRSHUDWLRQ
     
    5HWUHDW
    6XSSOLHV
     
    ,QGH[FDUGVRQHSHU
    SDUWLFLSDQW
     
    :ULWLQJXWHQVLO

    $WWKHHQGRIVHFRQGVDVNIRUDVKRZRIKDQGVWRVHHKRZPDQ\ZHUHDEOHWR
    FRPSOHWHWKHWDVN 8VXDOO\OHVVWKDQSHUFHQWZLOOILQGWKHLURZQHU,QDVPDOOHUJURXS
    PRUHZLOOILQGWKHLURZQHU

    'PDVT"SFB*DF#SFBLFST"TTFTTJOH0UIFST"TTFUT

    5IF$POOFDUJPO2VFTUJPOT
    *DF#SFBLFST

     +RZPDQ\WKLQNZHZRXOGKDYHEHHQDEOHWRPDWFKWKHPLIZHGLGWKLVZLWKDOORIWKH
    VWXGHQWVLQ\RXUJUDGHRUDOORIWKHDJULFXOWXUDOHGXFDWLRQVWXGHQWV"
     :K\ZDVLWGLIILFXOWWRPDWFKWKHSHUVRQDODVVHW"
     +RZZRXOGPDWFKLQJDSK\VLFDODVVHWEHHDVLHU"
     $UHSK\VLFDODVVHWVXVXDOO\YDOXDEOHZKHQLWFRPHVWRJHWWLQJDSURMHFWRUWDVNGRQH"
     :KDWDUHVRPHZD\VZHPD\GHYHORSDEHWWHUXQGHUVWDQGLQJRIRQHDQRWKHUVKXPDQ
    SRWHQWLDO"

    8SBQVQ
    :HDOOKDYHJUHDWSHUVRQDODVVHWVWRVKDUHZLWKWKLVJURXSWKHFKDSWHUDQGRXUFRPPXQLW\
    :HXVXDOO\GRQRWVSHQGWLPHORRNLQJIRUWKHVWUHQJWKVRIRWKHUV/HWVOHDUQWRREVHUYHDQG
    WDNHQRWHRISHUVRQDODVVHWVLQWKHLQGLYLGXDOVDURXQGXV8WLOL]LQJHDFKRWKHUVSHUVRQDO
    VWUHQJWKVLVWKHPRVWHIILFLHQWZD\WRFRPSOHWHDWDVN

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    +6RFLDO*URZWK
    
    +$FNQRZOHGJHWKDWGLIIHUHQFHVH[LVWDPRQJSHRSOH
    -0HQWDO*URZWK
    
    -7KLQN&ULWLFDOO\

    0RGDOLWLHV
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    +6/HDUQLQJWR$VVHVV2WKHUV6WUHQJWKV,WZRXOGDOVREHYDOXDEOHWRUHIHUWKH
    VWXGHQWVWROHVVRQ+6+XPDQ3RWHQWLDOWRUHPLQGWKHPRIWKHLURZQSHUVRQDO
    VWUHQJWKV

    -JTUFO-FBE-FBSO

    -JTUFO-FBE-FBSO

    'PDVT"SFB*DF#SFBLFST5IF"#$TPG.&

    *DF#SFBLFST

    "#$TPG.&
    %FTDSJQUJPO
    3HUVRQDOH[SUHVVLRQLVFRQWLQXDOO\UHOHYDQWLQ
    GHYHORSLQJLQGLYLGXDOLW\DQGFRQILGHQFH,QWKLV
    DFWLYLW\VWXGHQWVZLOOXVHWKHOHWWHUVLQWKHLUQDPH
    WRGHVFULEHWKHPVHOYHVWKHLUJRDOVKREELHVRU
    LQWHUHVWV

    %JSFDUJPOT
     *LYHWKHVWXGHQWVDSLHFHRISDSHU
     ,QVWUXFWWKHPWRFUHDWLYHO\GLVSOD\WKHLUQDPHDQG
    ZULWHZRUGVRUVHQWHQFHVGHVFULELQJWKHPVHOYHV
     (DFKZRUGRUSKDVHVKRXOGVSHOORXWWKHOHWWHUVRI
    WKHLUQDPH LHOLNHDQDFURVWLFSRHP
     (QFRXUDJHWKHVWXGHQWVWREHDUWLVWLFDQG
    LQIRUPDWLYHLQWKHLU$%&VRI0(
     $OORZHDFKVWXGHQWWRVKDUHZKDWWKH\KDYH
    ZULWWHQ
     3RVWWKHGUDZLQJVDURXQGWKHURRP
    ([DPSOH

    5HFHLYHP\6WDWH))$'HJUHHWKLV\HDU
    <RXQJ
    $WKOHWLF
    1HYHUIDLOHGDFODVVLQVFKRRO

    5IF$POOFDUJPO2VFTUJPOT

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV

     :DVLWKDUGWRFRPHZLWKJRDOVZKLFKLQYROYHGWKH
    OHWWHUVRI\RXUQDPH"

     
    &ODVVURRP)LUVWGD\RIFODVV
     
    ))$0DNHWKHPRQO\ZULWH
    JRDOVIRUWKHPVHOYHVRUWKH
    FKDSWHUDWDFRPPLWWHHRU
    RIILFHUPHHWLQJ

     :KDWGLG\RXOHDUQDERXWVRPHRQHHOVH"

    6XSSOLHV

     :KDWGLG\RXOHDUQDERXW\RXUVHOYHV"

    8SBQVQ

     
    3DSHU
     
    0DUNHUV

    :HOOGRQHDQGWKDQNVIRUVKDULQJ,NQRZ,MXVW
    OHDUQHGDIHZWKLQJV,GLGQWNQRZEHIRUH$VZHOHDUQHGWRGD\HYHU\RQHKDVDXQLTXHQHVV
    WKDWPDNHVHDFKRIXVVSHFLDOLQDGLIIHUHQWZD\:HOHDUQHGQHZWKLQJVDERXWRXUSHHUVDQG
    SHUKDSVZHUHUHPLQGHGRIWKHLUWUDLWVRUTXDOLWLHVZHKDGIRUJRWWHQDERXW$VZHORRNDW
    HYHU\RQHVQDPHVDURXQGWKHURRPOHWXVUHPHPEHUHDFKSHUVRQDOLW\SOD\VDYLWDOUROHWRWKH
    G\QDPLFVRIWKHJURXS

    'PDVT"SFB*DF#SFBLFST5IF"#$TPG.&

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW

    *DF#SFBLFST

    
    
    
    

    '&KDUDFWHU
    
    '5HVSHFWRWKHUV
    %5HODWLRQVKLSV
    
    %3UDFWLFHKXPDQUHODWLRQVVNLOOVLQFOXGLQJFRPSDVVLRQHPSDWK\XQVHOILVKQHVV
    WUXVWZRUWKLQHVVUHOLDELOLW\DQGOLVWHQLQJ

    0RGDOLWLHV
     
    9LVXDO
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO
     
    ,QWUDSHUVRQDO

    -,&YUFOTJPO
    +6'HILQLQJ&RUH9DOXHV

    -JTUFO-FBE-FBSO

    'PDVT"SFB*DF#SFBLFST(PU:PVS/VNCFS
    -JTUFO-FBE-FBSO

    *DF#SFBLFST

    (PU:PVS/VNCFS
    %FTDSJQUJPO
    7U\WKLVLQWHUDFWLYHLFHEUHDNHUDQGKHOS\RXU
    WHDPPDWHVRUJURXSJHWWRNQRZRQHDQRWKHU
    LQDPRUHPHPRUDEOHDQGIXQZD\WKDQVLPSOH
    LQWURGXFWLRQV

    %JSFDUJPOT
    $KHDGRIWLPHSUHSDUHLQVWUXFWLRQVRQVOLSVRI
    SDSHUDQGSODFHWKHPLQDER[
    )RUH[DPSOH
     )LQGRXWWKHPLGGOHQDPHRI
     ([FKDQJHVKRHVL]HVZLWK
     )LQGRXWLIKDVDQ\SHWV
     $VSDUWLFLSDQWVDUULYHHDFKJHWVDQXPEHUWKDWKH
    RUVKHZHDUVLQDQHDV\WRVHHSODFH
     3DVVRXWRQHVOLSRILQVWUXFWLRQWRHDFK
    SDUWLFLSDQW
     $OORZWKHPWREHJLQPLQJOLQJHQFRXUDJHWKHPWR
    ZULWHGRZQWKHDQVZHUVWKH\GLVFRYHUVRWKH\FDQ
    EHVKDUHG
     :KHQWKH\YHIRXQGRXWWKHDQVZHUWRWKHLUILUVW
    VOLSRILQVWUXFWLRQWKH\VKRXOGUHWXUQLWDQGJHW
    DQRWKHUIURPWKHER[
     $OORZWKHPWRFRQWLQXHGLVFRYHULQJQHZIDFWV
    DERXWHDFKRWKHUXQWLOHYHU\RQHKDVPHWILYHRUVL[
    SHRSOH

    5IF$POOFDUJPO2VFTUJPOT
     :KDWGLG\RXGLVFRYHUDERXWVRPHRQHLQWKHJURXS
    WKDW\RXGLGQWNQRZEHIRUH"
     :K\LVLWLPSRUWDQWWRJHWWRNQRZWKHVHVPDOO
    IDFWVZKHQEXLOGLQJUHODWLRQVKLSV"

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    :RUNLQJZLWKRWKHUFKDSWHUV
     
    *HWWLQJWRNQRZ3$/6VWXGHQWV
     
    ,QDODUJHJURXSUHWUHDWVHWWLQJ
    6XSSOLHV
     
    6OLSVRISDSHUZLWKPDQ\
    GLIIHUHQWLQVWUXFWLRQVRQWKHP
    WKHPRUHSDUWLFLSDQWVWKH
    PRUHLQVWUXFWLRQV\RXZLOOQHHG

     :KDWZRXOGEHWKHDGYDQWDJHVRUGLVDGYDQWDJHV
    LIDOOJURXSPHPEHUVDQVZHUVZHUHH[DFWO\WKH
    VDPH"

    'PDVT"SFB*DF#SFBLFST(PU:PVS/VNCFS

    8SBQVQ
    *DF#SFBLFST

    7KDQNVIRUVKDULQJSHUVRQDOIDFWVZLWKRQHDQRWKHU/HWVUHPHPEHUDVZHFRQWLQXHWR
    ZRUNWRJHWKHUWKDWLWLVLPSRUWDQWWRJHWWRNQRZRQHDQRWKHUDQGUHVSHFWDQGEHWKDQNIXO
    IRURXUGLIIHUHQFHV

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    %5HODWLRQVKLSV
    
    %,QWHUDFWDQGZRUNZLWKRWKHUV
    +6RFLDO*URZWK
    
    +$FNQRZOHGJHWKDWGLIIHUHQFHVH[LVWDPRQJSHRSOH

    0RGDOLWLHV
     
    .LQHVWKHWLF
     
    $XGLWRU\
     
    9LVXDO
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    067KHQHHGIRUSRVLWLYHUHODWLRQVKLSV
    068QGHUVWDQGLQJZD\VSHRSOHDUHGLIIHUHQW

    -JTUFO-FBE-FBSO

    'PDVT"SFB*DF#SFBLFST.BUDI.FFU
    -JTUFO-FBE-FBSO

    *DF#SFBLFST

    .BUDI.FFU
    %FTDSJQUJPO
    7KLVDFWLYLW\LVJUHDWIRUVLWXDWLRQVZKHQSHRSOH
    DUHQRWIDPLOLDUZLWKRQHDQRWKHURUXVHDVDIXQZD\
    WRHVWDEOLVKSDUWQHUV,WLVDPDWFKLQJJDPHZKLFK
    FDQEHGRQHDYDULHW\RIZD\VDFKLHYLQJWKHVDPH
    UHVXOWV

    %JSFDUJPOT
     :ULWHWKHQDPHVRIFKDUDFWHUFRXSOHVRQSLHFHVRI
    SDSHU
     7DSHRQHFKDUDFWHUQDPHWRWKHEDFNRIHDFK
    SHUVRQ
     3DUWLFLSDQWVFDQRQO\DVN\HVRUQRTXHVWLRQVWR
    RWKHUSDUWLFLSDQWVWRILQGRXWWKHQDPHRIWKH
    FKDUDFWHUWDSHGWRWKHLUEDFN
     2QFHWKH\GLVFRYHUZKRWKH\DUHWKH\QHHGWRILQG
    WKHLUFKDUDFWHUPDWH
     ,IWKHVLWXDWLRQDOORZVKDYHWKHFRXSOHVLQWURGXFH
    HDFKRWKHUWRWKHJURXS,I\RXDUHGHDOLQJZLWKD
    YHU\IDPLOLDUJURXSKDYHWKHPWHOODVWRU\DERXW
    RQHDQRWKHURUDQLQWHUHVWLQJIDFW

    $IBSBDUFS&YBNQMFT

    2VJDL3FGFSFODF

    0LFNH\DQG0LQQLH0RXVH

    )UHGDQG:LOPD)OLQWVWRQH

    %HUWDQG(UQLH

    8VHIXOQHVV

    /LORDQG6WLWFK

    %DUELHDQG.HQ

     
    5HWUHDW
     
    &ODVVURRP

    0DU\.DWHDQG$VKOH\2OVRQ

    6XSSOLHV

    3RFDKRQWDVDQG-RKQ6PLWK

    +DQQDK0RQWDQDDQG0LOH\&\UXV

    /RLVDQG&ODUN

     
    ,QGH[FDUGV
     
    7DSH
     
    :ULWLQJXWHQVLO

    7LPHPLQ
    1XPEHURI6WXGHQWV 

    5IF$POOFDUJPO2VFTUJPOT
     :DVLWKDUGWRILJXUHRXWZKR\RXZHUH"
     'LGDQ\RQHDVN\RXDTXHVWLRQWKDWZDVQRWD\HVRUQRTXHVWLRQ"+RZGLG\RXUHVSRQG"
     :HUHWKHUHDQ\FKDUDFWHUVLQZKLFK\RXZHUHXQIDPLOLDU"
     :KDWZRXOGKDYHPDGHWKLVDFWLYLW\HDVLHU"
     :KRKDGWKHKDUGHVWWLPHILQGLQJWKHLUPDWFK":K\"

    'PDVT"SFB*DF#SFBLFST.BUDI.FFU

    8SBQVQ
    *DF#SFBLFST

    *UHDWMREDWILQGLQJ\RXUPDWFK/HWVFRQVLGHUHIIHFWLYHFRPPXQLFDWLRQ$VNLQJRQO\\HV
    RUQRTXHVWLRQVPD\QRWEHWKHEHVWZD\WRILQGDFRPSUHKHQVLYHDQVZHUWR\RXUTXHVWLRQ
    ,VQWLWLQWHUHVWLQJWKDWHDFKFKDUDFWHUVHWHYRNHVDGLIIHUHQWUHDFWLRQIURPXVDQGPD\VSDUN
    DPHPRU\LPDJHRUVRQJ"

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    $$FWLRQ
    
    $&RPPXQLFDWHHIIHFWLYHO\ZLWKRWKHUV
    +6RFLDO*URZWK
    
    +3UHVHQWVHOIDSSURSULDWHO\LQYDULRXVVHWWLQJV

    0RGDOLWLHV
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    %RGLO\.LQHVWKHWLF
     
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    +6'HILQLQJ3HUVRQDO*URZWK

    

    -JTUFO-FBE-FBSO

    5FBN#VJMEJOH
    t "UUJUVEF$IFFS
    t $BU(PU:PVS5POHVF
    t $SFBUF:PVS0XO5FBN#VJMEJOH"DUJWJUZ
    t 5SVTU5SBJM
    t )VNBO$IFDLFST
    t -FBEFSWT'PMMPXFS
    t -FBEFSTIJQ*TMBOE
    t 4UBS1PXFS

    'PDVT"SFB5FBN#VJMEJOH"UUJUVEF$IFFS

    5FBN#VJMEJOH
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH"UUJUVEF$IFFS
    -JTUFO-FBE-FBSO

    "UUJUVEF$IFFS
    %FTDSJQUJPO
    5FBN#VJMEJOH

    +RZPDQ\WLPHVKDYHZHKHDUGDWWLWXGHLV
    HYHU\WKLQJ"+HOSNHHSDWWLWXGHLQWKHIURQWRI
    HYHU\RQHVPLQGE\FUHDWLQJDQDWWLWXGHFKHHU7KLV
    DFWLYLW\ZLOOVWLPXODWHFUHDWLYHNLQHVWKHWLFDFWLRQVWR
    JHWWKHJURXSVHQHUJ\IORZLQJ

    %JSFDUJPOT
    3UHSDUDWLRQ*HWWKHJURXSPRYLQJDQGVKDNLQJ
    E\VD\LQJFRPPRQFKHHUOHDGHUSKUDVHVVXFKDV
    5HDG\2ND\/HWV*R/(76*2/HWV*R
    /HWV*RDQG*R7HDP(QJDJHSDUWLFLSDQWVLQ
    \RXUHQWKXVLDVP
     'LYLGHLQWRJURXSVRIIRXU
     ,QVWUXFWHDFKJURXSWRGHYHORSDFKHHUWRERRVW
    WHDPDWWLWXGHV
     (QFRXUDJHFKHHUVWRLQFOXGHPRYHPHQWV
    UHVHPEOLQJVRPHWKLQJWKHFKHHUOHDGLQJVTXDG
    ZRXOGFUHDWH
     *LYHHDFKJURXSILYHPLQXWHVWRFUHDWHWKHLU
    FKHHUV
     $OORZHDFKJURXSWLPHWRVKDUHWKHLUFKHHUVZLWK
    WKHJURXS

    2VJDL3FGFSFODF

     &RQJUDWXODWHHDFKJURXSDVWKH\SHUIRUP

    7LPHPLQ

     ,IWLPHDOORZVKDYHHDFKJURXSWHDFKWKHLUFKHHUWR
    HYHU\RQHHOVH

    1XPEHURI6WXGHQWV 

    5IF$POOFDUJPO2VFTUJPOT
     :KDWZDVWKHPRVWGLIILFXOWSDUWRIFUHDWLQJWKH
    FKHHU"
     +RZGLG\RXPHPRUL]HLW"+RZGLGWKHPRWLRQV
    KHOS"

    8VHIXOQHVV
     
    &ODVVURRP
     
    2IILFHU5HWUHDW
     
    7HDP&RQIOLFW5HVROXWLRQ
    6XSSOLHV
     
    2SHQVSDFHWRSHUIRUPFKHHUV

     6WDUWLQJZLWKWKHILUVWJURXSZKDWZDVWKHNH\
    PHVVDJHDERXWDWWLWXGHLQHDFKFKHHU"
     +RZGRWKHDWWLWXGHV\RXMXVWFKHHUHGDERXWGLFWDWH\RXUGD\WRGD\OLIH"

    

    'PDVT"SFB5FBN#VJMEJOH"UUJUVEF$IFFS

    8SBQVQ
    ,WKDVEHHQH[FLWLQJZDWFKLQJDQGOHDUQLQJHDFKJURXSVFKHHU0DQ\SHRSOHLQWKHZRUOG
    VHHPWRXVHWKHZRUGDWWLWXGHLQVLJQLILFDQWO\LQFRQYHUVDWLRQXVXDOO\IRFXVLQJRQLWV
    QHJDWLYHDVSHFWV$VZHKDYHOHDUQHGDWWLWXGHFDUULHVH[WUDRUGLQDU\SRZHUWRERRVWDWHDPV
    DELOLW\WRZRUNHIIHFWLYHO\DQGHIILFLHQWO\$VZHOLYHHDFKGD\OHWVFRQWLQXHWRREVHUYHRXU
    EHKDYLRUVDQGHQVXUHWKH\ZLOOKDYHDSRVLWLYHHIIHFWRQWKHDWWLWXGHVRIRWKHUV

    5FBN#VJMEJOH

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
     '&KDUDFWHU
     
    '/LYHZLWKLQWHJULW\
     
    '5HVSHFW2WKHUV
    0RGDOLWLHV
     
    .LQHVWKHWLF
     
    9LVXDO
     
    $XGLWRU\
    0XOWLSOH,QWHOOLJHQFHV
    
    
    
    

    
    %RGLO\.LQHVWKHWLF
    
    /LQJXLVWLF
    
    6SDWLDO
    
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    +67KH,PSRUWDQFHRI$WWLWXGH

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH$BU(PU:PVS5POHVF
    -JTUFO-FBE-FBSO

    $BU(PU:PVS5POHVF
    %FTDSJQUJPO
    5FBN#VJMEJOH

    7KLVDFWLYLW\LVDVHULHVRIWDVNVWREHFRPSOHWHG
    ZLWKRXWWDONLQJ3DUWLFLSDQWVPXVWXVHQRQYHUEDO
    FRPPXQLFDWLRQWRFRPSOHWHHDFKWDVNLQDWLPHO\
    PDQRU

    %JSFDUJPOT
     'LYLGHWKHJURXSLQWZR LIWKHJURXSLVVPDOOGR
    DOODFWLYLWLHVDVDZKROH 
     :LWKRXWDQ\WDONLQJFRPSOHWHWKHIROORZLQJWDVNV
    7KHILUVWWHDPWRFRPSOHWHHDFKWDVNJHWVRQH
    SRLQW7KHWHDPZLWKWKHPRVWSRLQWVDWWKHHQG
    LVWKHZLQQLQJWHDP
     ,QVWUXFWWKHSDUWLFLSDQWVWRGRHDFKWDVNGHFODULQJ
    DZLQQLQJJURXSEHIRUHDQQRXQFLQJWKHQH[W
    WDVNVFULWHULD
     /LQHXSE\KHLJKW
     2UJDQL]H\RXUVHOYHVE\H\HFRORU
     /LQHXSE\WKHOHQJWKRI\RXUKDLU
     2UJDQL]H\RXUVHOYHVDFFRUGLQJWRWKHQXPEHU
    RIVLEOLQJVLQ\RXUIDPLO\
     /LQHXSE\VKRHVL]H

    2VJDL3FGFSFODF
    7LPHPLQ

     /LQHXSE\WKHPRQWK\RXZHUHERUQ

    1XPEHURI6WXGHQWV 

     /LQHXSE\WKHGD\\RXZHUHERUQ

    8VHIXOQHVV
    
    'LVFXVVLQJWKHLPSRUWDQFH
    RIEXLOGLQJFRPPXQLW\
    UHODWLRQVKLSV
    
    %HIRUHDVSRQVRUVKLSGULYH
    
    )LQGLQJFRPPXQLW\PHPEHUV
    WRKHOSZLWK6$(V

     /LQHXSDOSKDEHWLFDOO\E\WKHVWUHHWRQZKLFK
    \RXOLYH

    5IF$POOFDUJPO2VFTUJPOT
     :KDWZDVFKDOOHQJLQJDERXWHDFKWDVN"
     6LQFH\RXFRXOGQWWDONZKDWW\SHVRIWKLQJVGLG
    \RXKDYHWRGRWRFRPPXQLFDWH"
     :DVWKHILUVWWDVNHDVLHUWKDQWKHODVW",IVRZK\"
     :KDWGLG\RXOHDUQDERXW\RXUFODVVPDWHVGXULQJ
    WKLVDFWLYLW\WKDW\RXGLGQRWNQRZEHIRUH"

    

    'PDVT"SFB5FBN#VJMEJOH$BU(PU:PVS5POHVF

    8SBQVQ
    'XULQJWKLVDFWLYLW\ZHOHDUQHGDORWDERXWHDFKRWKHUDQGKRQHGRXUDELOLW\WR
    FRPPXQLFDWHHIIHFWLYHO\ZLWKRXWVD\LQJDZRUG7KLVDFWLYLW\DOVRKHOSHGXVXQGHUVWDQGWKH
    LPSRUWDQFHRIQRQYHUEDOFRPPXQLFDWLRQDQGZRUNLQJWRJHWKHUDVDWHDP*UHDWMRE

    3FTFBSDI.FUIPEPMPHJFT

    5FBN#VJMEJOH

    3UHFHSW
    
    
    
    
    
    
    

    $$FWLRQ
    
    $&RPPXQLFDWHHIIHFWLYHO\ZLWKRWKHUV
    %5HODWLRQVKLSV
    
    %,QWHUDFWDQGZRUNZLWKRWKHUV
    
    %3DUWLFLSDWHHIIHFWLYHO\DVDWHDPPHPEHU
    +6RFLDO*URZWK
    
    +$FNQRZOHGJHWKDWGLIIHUHQFHVH[LVWDPRQJSHRSOH

    0RGDOLWLHV
     
    9LVXDO
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    6SDWLDO
     
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    +6&RPPXQLFDWLRQPHWKRGVRQWHDPV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH$SFBUF:PVS0XO5FBN#VJMEJOH"DUJWJUZ
    -JTUFO-FBE-FBSO

    $SFBUF:PVS0XO5FBN
    #VJMEJOH"DUJWJUZ
    5FBN#VJMEJOH

    %FTDSJQUJPO
    $UH\RXWLUHGRIWKHVDPHOHDGHUVKLSDFWLYLWLHVWLPH
    DIWHUWLPH"$OORZWKLVDFWLYLW\WRKHOS\RXUOHDGHUVKLS
    JXUXVSHUIRUPDWWKHWRSRIWKHLUJDPH3DUWLFLSDQWV
    ZLOOGHPRQVWUDWHWKHXOWLPDWHOHDGHUVKLSDELOLWLHVE\
    FUDIWLQJWKHLURZQDFWLYLWLHV

    %JSFDUJPOT
    7KLVFDQEHDFKDOOHQJLQJH[HUFLVHDQGPD\EH
    EHVWXVHGDIWHURWKHUOHDGHUVKLSDFWLYLWLHVDQG
    LQVWUXFWLRQ
     'LYLGHDODUJHUJURXSLQWRVPDOOHUJURXSVRIILYH
     *LYHJURXSVPLQXWHVWRFRPHXSZLWKD
    FKDOOHQJLQJVPDOOJURXSDFWLYLW\
     7KHFDWFK7KHDFWLYLW\VKRXOGEHRQHWKDWWKH
    JURXSEHOLHYHVLWFDQGREHWWHUWKDQDQ\RWKHU
    JURXS
     $IWHUHDFKJURXSKDVGHYHORSHGWKHLUDFWLYLW\
    EULQJDOOJURXSVWRJHWKHUDQGWDNHWXUQV
    SUHVHQWLQJWKHLUDFWLYLW\FKDOOHQJH
     *URXSVHDUQSRLQWVLI

    2VJDL3FGFSFODF
    7LPH PLQXWHV

    D 1RRWKHUJURXSFDQEHDWWKHPDWWKHLUDFWLYLW\ 

    1XPEHURI6WXGHQWV 

    E &DQGRDQRWKHUJURXSVDFWLYLW\EHWWHUWKDQWKH
    FUHDWRUV 

    8VHIXOQHVV

     7RKHOSJURXSVVXFFHHGWKHIDFLOLWDWRUVKRXOG
    FKHFNLQZLWKWKHSURJUHVVGXULQJSODQQLQJ+HOS
    ZLWKLGHDVRUSUREOHPVROYLQJVWUDWHJLHVLIWKH
    JURXSLVVWUXJJOLQJ
     (QFRXUDJHFUHDWLYHRXWRIWKHER[WKLQNLQJHJ
    VLQJLQJGDQFLQJMRNHWHOOLQJQRQYHUEDODVZHOO
    DVSK\VLFDORUPHQWDOW\SHFKDOOHQJHV

     
    )LQDODFWLYLW\RQD/HDGHUVKLS
    5HWUHDW
     
    /HDGHUVKLS7UDLQLQJ
    6XSSOLHV
     
    1RQHLQSDUWLFXODUEXWLI\RX
    WKURZLQDIHZUDQGRPLWHPVLW
    PD\PDNHIRUPRUHLQWHUHVWLQJ
    FKDOOHQJHV

    5IF$POOFDUJPO2VFTUJPOT
     +RZZDVWKLVDFWLYLW\GLIIHUHQWIURPRWKHUOHDGHUVKLSFKDOOHQJHVLQZKLFK\RXKDYHEHHQ
    LQYROYHG"
     +RZGLG\RXGHFLGHZKDW\RXUJURXSVFKDOOHQJHDFWLYLW\ZDVJRLQJWREH"
     :KDWZDVWKHKDUGHVWSDUWDERXWFUHDWLQJDQDFWLYLW\"
     +RZGRHVWKLVUHIOHFWUHDOOLIHOHDGHUVKLSUROHV"

    

    'PDVT"SFB5FBN#VJMEJOH$SFBUF:PVS0XO5FBN#VJMEJOH"DUJWJUZ

    8SBQ6Q
    7KLVZDVKDUGHUWKDQLWVRXQGHGWKLVW\SHRIFUHDWLYHOHDGHUVKLSUHTXLUHVDOOHOHPHQWV
    RIWHDPZRUNLQFOXGLQJFUHDWLYLW\FRPPXQLFDWLRQWUXVWSUREOHPVROYLQJDQGWLPH
    PDQDJHPHQW7REHDVXFFHVVIXOOHDGHU\RXPXVWOHDGE\H[DPSOHDQGFDSLWDOL]HRQRWKHUV
    DQG\RXURZQVWUHQJWKV

    5FBN#VJMEJOH

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    2)OH[LELOLW\$GDSWDELOLW\
    
    2([SHULPHQWVDQGWDNHVULVNV
    %5HODWLRQVKLSV
    
    %3DUWLFLSDWHHIIHFWLYHO\DVDWHDPPHPEHU

    0RGDOLWLHV
     
    9LVXDO
     
    $XGLWRU\
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    $OO

    -,&YUFOTJPO
    $+67HDFKLQJ2WKHUV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH5SVTU5SBJM
    -JTUFO-FBE-FBSO

    5SVTU5SBJM
    %FTDSJQUJPO
    5FBN#VJMEJOH

    (DUQWUXVWZLWKLQWKHJURXS,QWKLVDFWLYLW\WKH
    JURXSJDLQVWKHWUXVWRIRQHYROXQWHHUDVWKH\
    OHDGWKHPWKURXJKWKH7UXVW7UDLOE\WKHLUDXGLWRU\
    UK\WKPLFDELOLWLHV

    %JSFDUJPOT
     $VNIRURQHYROXQWHHUIURPWKHJURXS
     $IWHUDYROXQWHHUKDVEHHQHVWDEOLVKHGJLYHWKH
    HQWLUHJURXSLQVLJKWWRZKDWLVJRLQJWRKDSSHQ
     $VDJURXSZHZLOOOHDGRXUYROXQWHHUWKURXJKDQ
    REVWDFOHFRXUVHORFDWHGULJKWKHUHLQWKHURRP
     $VNWKHYROXQWHHUWRZDLWRXWVLGHWKHURRPZKLOH
    WKHJURXSFRQVWUXFWVWKHFRXUVH
     %HVXUHWKHYROXQWHHULVRXWRIWKHURRPEHIRUH
    \RXUHYHDOWKHQH[WVWHSWRWKHUHVWRIWKHFODVV
     7KHJRDOLVWREXLOGDQREVWDFOHFRXUVHIRUWKH
    YROXQWHHUIURPWKHGRRUWRWKHRWKHUVLGHRIWKH
    URRP8VHGHVNVERRNEDJVRURWKHUPRYHDEOH
    LWHPVLQWKLVURRP 7KHYROXWHHUFDQQRWVWHSXS
    RQDQ\WKLQJKRZHYHUKHRUVKHFDQVWHSRYHU
    LWHPV$WWKLVWLPHOHWWKHVWXGHQWVNQRZZKLFK
    WKLQJVDUHRIIOLPLWV
     *LYHWKHJURXSWKUHHPLQXWHVWRDUUDQJHWKHURRP
    LQWRDQREVWDFOHFRXUVH,QVWUXFWWKHPWREHYHU\
    TXLHWVRWKHYROXQWHHUZRQWKHDUZKDWLVJRLQJRQ
     $IWHUWKHFRXUVHLVEXLOWPDNHVXUHHYHU\RQHLV
    FOHDURQWKHURXWHWREHWDNHQE\WKHYROXQWHHU
    KDYHVRPHRQHIURPWKHJURXSZDONWKHSDWKRQFH
    RUWZLFHVRHYHU\RQHNQRZVWKHZD\
     6WHSRXWDQGEOLQGIROGWKHYROXQWHHUZLWKRXW
    OHWWLQJKLPRUKHUVHHWKHREVWDFOHFRXUVH
    %ULQJWKHEOLQGIROGHGYROXQWHHULQWKHURRP
    ([SODLQWRWKHHQWLUHJURXSKRZWKH\ZLOOOHDGWKH
    YROXQWHHUWKURXJKWKHFRXUVH

    2VJDL3FGFSFODF
    7LPH PLQXWHV
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    &ODVVURRP
     
    2IILFHU5HWUHDW
    6XSSOLHV
     
    'HVNVFKDLUVERRNEDJV LH
    REMHFWVWREXLOGWKHREVWDFOH
    WUDLO
     
    %OLQGIROG

    D &ODSSLQJKDQGVFRQWLQXRXVO\PHDQVWRFRQWLQXH
    LQWKHVDPHGLUHFWLRQ
    E 6QDSSLQJILQJHUVPHDQVWRSURFHHGZLWKFDXWLRQWKHUHLVDQREVWDFOHDKHDG
    F 6WRPSLQJIHHWPHDQVWRVWHSRYHUVRPHWKLQJ
    G 6KKKKPHDQV\RXDUHQRWJRLQJLQWKHULJKWGLUHFWLRQDQG\RXQHHGWRWU\
    DQRWKHUGLUHFWLRQXQWLO\RXKHDUWKHJURXSUHSO\

    

    'PDVT"SFB5FBN#VJMEJOH5SVTU5SBJM
    5HYLHZWKHPHWKRGVRIFRPPXQLFDWLRQZLWKHYHU\RQH
    &RQWLQXHWKHDFWLYLW\XQWLOWKHJURXSVXFFHVVIXOO\OHDGVWKHYROXQWHHUWKURXJKWKH
    REVWDFOHFRXUVH
    :KHQWKHYROXQWHHUKDVFRPSOHWHGWKHFRXUVHOHDGWKHJURXSLQDELJURXQGRIDSSODXVH
    7DNHWKHEOLQGIROGRIIDQGOHWWKHYROXQWHHUVHHWKHFRXUVH
    *LYHWKHJURXSRQHPLQXWHWRSXWWKHURRPEDFNLQRUGHU

    5FBN#VJMEJOH

    5IF$POOFDUJPO2VFTUJPOT
    )RUWKHYROXQWHHU
     'LG\RXIHHOOLNH\RXWUXVWHGWKHFODVVGXULQJWKHDFWLYLW\":K\RUZK\QRW"
     :HUHWKHUHDQ\VSHFLILFWLPHV\RXUWUXVWIRUWKHJURXSZDVQRWTXLWHDVVWURQJDVLWFRXOG
    KDYHEHHQ":K\RUZK\QRW"
    )RUHYHU\RQH
     +RZGRHVWKLVDFWLYLW\UHODWHWRWUXVW"
     :KDWZDVWKHKDUGHVWSDUWDERXWFRPPXQLFDWLQJWKHSDWKWRWKHYROXQWHHU"
     +RZFRXOGWKHJURXSJDLQWKHYROXQWHHUVWUXVW"
     +RZFRXOGWKHJURXSORVHWKHYROXQWHHUVWUXVW"
     :KLFKLVHDVLHU7RJDLQWUXVWRUWRORVHLW"

    8SBQ6Q
    7RGD\ZHFRQGXFWHGDULVN\DFWLYLW\DQGPHDVXUHGRXUWUXVWZRUWKLQHVV7KLVDFWLYLW\
    KHOSHGXVWRVHHKRZWRWUXVWRWKHUVJDLQRWKHUVWUXVWDQGWRGLVFRYHUWKHLPSRUWDQFHRI
    WUXVWLQJUHODWLRQVKLSV

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
     %5HODWLRQVKLSV
     
    %3UDFWLFHKXPDQUHODWLRQVVNLOOVLQFOXGLQJFRPSDVVLRQHPSDWK\XQVHOILVKQHVV
    WUXVWZRUWKLQHVVUHOLDELOLW\DQGOLVWHQLQJ
     
    %3DUWLFLSDWHHIIHFWLYHO\DVDWHDPPHPEHU
    0RGDOLWLHV
     
    $XGLWRU\
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    6SDWLDO
     
    0XVLFDO
     
    %RGLO\.LQHVWKHWLF

    -,&YUFOTJPO
    +6(DUQLQJ7UXVW

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH)VNBO$IFDLFST
    -JTUFO-FBE-FBSO

    )VNBO$IFDLFST
    %FTDSJQUJPO
    5FBN#VJMEJOH

    ,QWKLVJDPHRIFKHFNHUVWZRSHRSOHDUHWKH
    SOD\HUVDQGWKHRWKHUVDUHWKHJDPHSLHFHV3OD\HUV
    DQGJDPHSLHFHVSUREOHPVROYHWRJHWKHUWRFRQTXHU
    WKHRWKHUWHDP+XPDQFKHFNHUVGHPRQVWUDWHVWKH
    VWUDWHJLFSURFHVVRIDFFRPSOLVKLQJJRDOVDQGEULQJV
    WRUHDOL]DWLRQWKHDFFHSWDQFHRIIDLOXUH

    %JSFDUJPOT
    3UHSDUDWLRQ&UHDWHDERDUGZLWKPDVNLQJWDSH
    RQWKHIORRUVTXDUHVE\VTXDUHVPDUNLQJHYHU\
    RWKHURQHGLIIHUHQWO\GLVWLQJXLVKLQJRQZKLFKEORFNV
    HDFKWHDPPD\WUDYHO$OVRGLVWLQJXLVKWHDPVYLVLEO\
    ZLWKVWLFNHUVQDPHWDJVKDWVHWF
     6HOHFWSHRSOHWREHJDPHSLHFHV
     7KHUHPDLQLQJSHRSOHZLOOEHWKHSOD\HUVWDNLQJ
    WXUQVPRYLQJFKHFNHUSLHFHV
     7KHSOD\HUVZLOOWHOOWKHLUSLHFHVZKHUHWRPRYH
     ,QWKHHYHQWRIDMXPSWKHSLHFHVZLOOSOD\OHDS
    IURJZLWKRQHDQRWKHUWRPRYHIURPSODFHWR
    SODFH
     :KHQDSLHFHUHDFKHVWKHRSSRQHQWVEDFNURZ
    WKH.LQJ5RZ LWEHFRPHVDNLQJDSLHFHWKDW
    ZDVMXVWNLQJHGFDQQRWFRQWLQXHMXPSLQJSLHFHV
    XQWLOWKHQH[WPRYH
     7RGLVWLQJXLVKNLQJVDUR\DOFURZQFRXOGEHPDGH
    RXWRISDSHURUDQRWKHUSHUVRQFRXOGEHDGGHGWR
    WKHVSRWDQGPRYHWRJHWKHU
     &RQWLQXHSOD\LQJFKHFNHUVXQWLORQHWHDPLV
    HOLPLQDWHG

    5IF$POOFDUJPO2VFTUJPOT
     +RZZDVVWUDWHJ\LQYROYHGLQFKHFNHUSLHFH
    PRYHPHQW"

    2VJDL3FGFSFODF
    7LPH0LQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    &ODVVURRP
     
    )LUVW))$0HHWLQJRIWKH\HDU
    6XSSOLHV
    $ZD\WRGLVWLQJXLVKWHDPV
     
    0DVNLQJWDSHWRPDNHDERDUG
    RQWKHIORRU IRUDQE\
    JULG 
     
    2SWLRQDOSDSHUFURZQV

     :K\ZDVZRUNLQJWRJHWKHULPSRUWDQW"
     +RZGLGWKHRWKHUWHDPVPRYHPHQWVGLVWUDFW\RX
    IURP\RXUJRDOV"
     :KDWEDUULHUVLQRXUOLYHVGLVWUDFWRUDOWHURXUJRDOV"
     +RZGRFDQZHGHDOZLWKWKHVHREVWDFOHVLQRXUSHUVRQDOOLYHV"

    

    'PDVT"SFB5FBN#VJMEJOH)VNBO$IFDLFST

    8SBQ6Q
    -XVWDVWKLVJDPHRIFKHFNHUVKDVVKRZQXVKRZWRVWUDWHJL]HDQGFRQTXHUREVWDFOHVRQ
    WKHZD\WRWKHRWKHUVLGHRIWKHERDUGOHWVWDNHWKLVOHVVRQZLWKXVDVZHVHWJRDOVDQG
    HYDOXDWHRXUMRXUQH\DFURVVWKHFKHFNHUERDUGRIOLIH

    3FTFBSDI.FUIPEPMPHJFT

    5FBN#VJMEJOH

    3UHFHSW
    
    
    
    
    
    

    1'HFLVLRQ0DNLQJ
    
    1'HPRQVWUDWHWKHGHFLVLRQPDNLQJSURFHVV
    
    1'HPRQVWUDWHSUREOHPVROYLQJVNLOOV
    %5HODWLRQVKLSV
    
    %,QWHUDFWDQGZRUNZLWKRWKHUV
    
    %3DUWLFLSDWHHIIHFWLYHO\DVDWHDPPHPEHU

    0RGDOLWLHV
     
    9LVXDO
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    6SDWLDO
     
    ,QWHUSHUVRQDO
     
    /RJLFDO0DWKHPDWLFDO

    -,&YUFOTJPO
    +6'HFLVLRQ0DNLQJLQ*URXSV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH-FBEFSWT'PMMPXFS
    -JTUFO-FBE-FBSO

    -FBEFSWT'PMMPXFS
    %FTDSJQUJPO
    5FBN#VJMEJOH

    6RPHWLPHVZHPXVWEHOHDGHUVDQGRWKHUWLPHV
    ZHPXVWWDNHRQWKHUROHRIIROORZHU7REHDJRRG
    OHDGHU\RXQHHGWRNQRZKRZWRIROORZ,QWKLV
    DFWLYLW\SDUWLFLSDQWVZLOOGHPRQVWUDWHWHDPEXLOGLQJ
    VNLOOVDQGEHWWHUXQGHUVWDQGKRZWREHERWKDQ
    HIIHFWLYHOHDGHUDQGIROORZHU

    %JSFDUJPOT
     'LYLGHWKHJURXSLQWRSDLUV
     3DLUVVKRXOGVLWIDFHWRIDFHWRRQHDQRWKHU
     1RZIRUPDPLUURURIHDFKRWKHUZLWK\RXUKDQGV
    KHOGRXWKRUL]RQWDOO\LQIURQWRI\RX
     7KHUHVKRXOGEHRQHWRWZRLQFKHVEHWZHHQ\RX
    DQG\RXUSDUWQHUVKDQGV
     :LWKRXWDQ\WDONLQJEHJLQPRYLQJ\RXUKDQGV
    ZKLOHVWLOOUHPDLQLQJDPLUURURI\RXUSDUWQHU
     *LYHSDUWLFLSDQWVRQHPLQXWHWRDFWDVDPLUURU
    %UHDNIRU&RQQHFWLRQ4XHVWLRQV
     7U\LWDJDLQEXWWKLVWLPHVZLWFKUROHVLI\RXOHG
    IROORZ,I\RXIROORZHGQRZLWLV\RXUWXUQWROHDG

    2VJDL3FGFSFODF

     *LYHWKHSDUWLFLSDQWVDQRWKHUPLQXWH

    7LPHPLQ

    5IF$POOFDUJPO2VFTUJPOT
     7KLQNRIWKHVLPSOLFLW\RIDOHDGHUIROORZHU
    UHODWLRQVKLS+RZGRHVLWIRUP"

    1XPEHURI6WXGHQWV 
    8VHIXOQHVV

     +RZGLG\RXGHFLGHZKRZRXOGEHWKHOHDGHU"

     
    5HWUHDW
     
    &ODVVURRP
     
    %HIRUHFRPPXQLW\VHUYLFH
    SODQQLQJRUDFWLYLW\

     )ROORZHUVZK\GLG\RXGHFLGHWRIROORZ"

    6XSSOLHV

     :KROHG"

    'RWKHDFWLYLW\DJDLQVZLWFKLQJUROHVWKHQDVNWKH
    ZKROHJURXS

     
    1RQH

     7HOOPHDERXWKRZLWZDVWRVZLWFK\RXUUROH"
     'RZHDOOKDYHWKHDELOLW\WROHDGDQGWKHDELOLW\WRIROORZ"

    

    'PDVT"SFB5FBN#VJMEJOH-FBEFSWT'PMMPXFS

    8SBQ6Q
    7KLVH[HUFLVHVKRZHGXVWKDWZHDOOKDYHWKHDELOLW\WREHOHDGHUVDQGIROORZHUV:HPXVW
    OHDUQDQGXQGHUVWDQGZKHQHDFKUROHLVDSSURSULDWHLQOLIH(YHQLIWKHUROHZHPXVWDVVXPH
    LVDZNZDUGRUXQQDWXUDOZHPXVWDGMXVWDQGSHUIRUPWRWKHEHVWRIRXUDELOLWLHV

    3FTFBSDI.FUIPEPMPHJFT

    5FBN#VJMEJOH

    3UHFHSW
     ,3URIHVVLRQDO*URZWK
     
    ,'HPRQVWUDWHH[HPSODU\HPSOR\DELOLW\VNLOOV
    2)OH[LELOLW\$GDSWDELOLW\
     
    20DQDJHVFKDQJH
     
    25HDFWVZLWKRSHQQHVVWRIHHGEDFNDQGSURIHVVLRQDOJURZWKRSSRUWXQLWLHV
    0RGDOLWLHV
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO
     
    %RGLO\.LQHVWKHWLF

    -,&YUFOTJPO
    +6/HDGHU)ROORZHU5HODWLRQVKLSV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH-FBEFSTIJQ*TMBOE
    -JTUFO-FBE-FBSO

    -FBEFSTIJQ*TMBOE
    %FTDSJQUJPO
    5FBN#VJMEJOH

    ,QWKLVSUREOHPVROYLQJDFWLYLW\VWXGHQWVZLOO
    ZRUNWRJHWKHUWRGHFLGHWKHILYHPRVWLPSRUWDQW
    FKDUDFWHULVWLFVRIEHLQJDOHDGHU7KH\PXVWH[SUHVV
    WKHLUGHFLVLRQWKURXJKYHUEDOMXVWLILFDWLRQLQDQ
    DWWHPSWWRFRPHEDFNWRFLYLOL]DWLRQIURP/HDGHUVKLS
    ,VODQG

    %JSFDUJPOT
    3UHSDUDWLRQ3ULQWFRSLHVRI7HDP%XLOGLQJ$6
    IRUHDFKVWXGHQW
     +DQGRXW/HDGHUVKLS7UHHVWRHDFKVWXGHQW
     'LYLGHLQWRVPDOOJURXSVRIWKUHHWRILYHVWXGHQWV
     (DFKJURXSLVWRLPDJLQHWKH\DUHVWUDQGHGRQ
    /HDGHUVKLS,VODQG7KHRQO\ZD\WRJHWEDFN
    WRFLYLOL]DWLRQLVWRFKRRVHILYHOHDGHUVKLS
    FKDUDFWHULVWLFVWKDW\RXWKLQNDUHLPSRUWDQWWR
    EHFRPLQJVXFFHVVIXO
     (DFKJURXSPXVWSLFNILYHGLIIHUHQWFKDUDFWHULVWLFV
    IURPWKHWUHHVDQGGHYHORSDFRQYLQFLQJFDVH
    DVWRZK\WKHVHFKDUDFWHULVWLFVZLOOKHOSWKHP
    EHFRPHVXFFHVVIXOLQOLIH
     (QFRXUDJHHDFKJURXSWRFRPHXSZLWKSRVLWLYH
    UHDVRQVZK\WKHLUOHDGHUVKLSFKDUDFWHULVWLFVZLOO
    KHOSWKHPEHVXFFHVVIXO 7KHUHLVQRVHWULJKWRU
    ZURQJDQVZHU
     (DFKJURXSZLOOSLFNRQHPHPEHUWRSUHVHQWWKHLU
    FDVHWRWKH6XSUHPH/HDGHU WKHLQVWUXFWRU 
     +RZFRQYLQFLQJWKH\QHHGWREHLVXSWRWKH
    6XSUHPH/HDGHUZKRKDVSRZHURYHUZKHWKHUWKH
    JURXSVWD\VVWUDQGHGRUUHWXUQVWRFLYLOL]DWLRQ
     ,IWKH6XSUHPH/HDGHUGHWHUPLQHVWKHJURXSKDV
    QRWGHYHORSHGDFRQYLQFLQJFDVHWKHQWKH\PXVW
    UHWXUQWR/HDGHUVKLS,VODQGDQGVWUHQJWKHQWKHLU
    DUJXPHQW

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    &ODVVURRP
     
    ))$
    6XSSOLHV
     
    7HDP%XLOGLQJ$6RQHSHU
    SDUWLFLSDQW
     
    2SWLRQDOWUHDWIRUUHWXUQLQJWR
    FLYLOL]DWLRQ

     *LYHHDFKJURXSVL[PLQXWHVWRSUHSDUHWKHLU
    SUHVHQWDWLRQWRWKH6XSUHPH/HDGHU
    ([DPSOH
     7UXVWZRUWK\1HHGHGLQRUGHUWREXLOGERWKSHUVRQDODQGEXVLQHVVUHODWLRQVKLSV
    +RQHVW\$NH\FRPSRQHQWWREXLOGLQJWUXVW
     *RRGOLVWHQHU1HFHVVDU\IRUGHYHORSLQJDQXQGHUVWDQGLQJRIRWKHUVQHHGV
     +XPRU3HRSOHZLOOHQMR\EHLQJDURXQG\RX

    

    'PDVT"SFB5FBN#VJMEJOH-FBEFSTIJQ*TMBOE
    7HDPGHYHORSHU7KHDELOLW\WRSXWDWHDPWRJHWKHUFDQKHOSDFFRPSOLVKPRUHWKDQ
    VRPHRQHZRUNLQJDORQH

    5IF$POOFDUJPO2VFTUJPOT
     :KDWGLG\RXILQGPRVWGLIILFXOWDERXWWKLVH[HUFLVH"
     +RZGLG\RXUWHDPVHOHFWWKHWRSILYH"

    5FBN#VJMEJOH

     +RZGLG\RXHOLPLQDWHRWKHUJRRGFKDUDFWHULVWLFV"
     :DVWKHUHVRPHQHJRWLDWLRQLQYROYHGDPRQJJURXSPHPEHUV"

    8SBQ6Q
    $VZHNQRZWKHUHDUHPDQ\VNLOOVDQGDWWULEXWHVWREHLQJVXFFHVVIXOLQOLIHDQGDVD
    OHDGHU,QWKLVDFWLYLW\WKHUHUHDOO\ZDVQRULJKWRUZURQJDQVZHULWZDVDOODERXWKRZ\RX
    FRPPXQLFDWHG\RXUFKRLFHVWRWKH6XSUHPH/HDGHU<RXKDYHDOOGHPRQVWUDWHGJUHDW
    HOLPLQDWLRQSUREOHPVROYLQJDQGFRPPXQLFDWLRQVNLOOV,ZDQWWRZHOFRPH\RXDOOEDFNWR
    FLYLOL]DWLRQ

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    )&RQWLQXRXV,PSURYHPHQW
    
    )8VHLQQRYDWLYHSUREOHPVROYLQJVWUDWHJLHV
    -0HQWDO*URZWK
    
    -3HUVXDGHRWKHUV

    0RGDOLWLHV
     
    $XGLWRU\
    0XOWLSOH,QWHOOLJHQFHV
     
    /LQJXLVWLF
     
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    +6'HILQLQJ/HDGHUVKLS

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH-FBEFSTIJQ*TMBOE
    -JTUFO-FBE-FBSO

    5FBN#VJMEJOH"4

    -FBEFSTIJQ$IBSBDUFSJTUJD5SFFT

    5FBN#VJMEJOH

    7KHIROORZLQJLVDOLVWRIWUHHVDQGWKHLUFKDUDFWHULVWLFV7KH\DUHPXFKOLNHIUXLWWUHHVRQO\WKH\
    SURGXFHFKDUDFWHULVWLFVWKDW\RXFDQSLFNOLNH\RXZRXOGDSSOHVRURUDQJHV<RXFDQSLFN\RXU
    FKDUDFWHULVWLFVIURPRQHWUHHRUVHYHUDO

    

    'PDVT"SFB5FBN#VJMEJOH-FBEFSTIJQ*TMBOE

    5FBN#VJMEJOH
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH4UBS1PXFS
    -JTUFO-FBE-FBSO

    4UBS1PXFS
    %FTDSJQUJPO
    5FBN#VJMEJOH

    ,QWKLVDFWLYLW\HDFKJURXSZLOOEHDVNHGWRVHWD
    JRDORIWKHQXPEHURIVWDUVWKH\DUHDEOHWRFXWRXW
    LQDVSHFLILFWLPH$IWHUWKH\FRPSOHWHWKHDFWLYLW\
    WKH\ZLOOEHDVNHGWRUHDVVHVVWKHLUJRDODVDWHDP
    DQGVHWDQHZJRDOZLWKWKHQHZLQIRUPDWLRQWKH\
    KDYHGLVFRYHUHG

    %JSFDUJPOT
    ,QWKLVDFWLYLW\VWXGHQWVZLOOSHUIRUPWKHWDVNRQFH
    DQGWKHQDQVZHUHYDOXDWLRQTXHVWLRQVEHIRUHWKH\
    SHUIRUPWKHWDVNDJDLQ&RS\RQH7HDP%XLOGLQJ
    $6SHUJURXSDQGEHVXUHWRKDYHHQRXJKVWDU
    SDWWHUQVVFUDWFKSDSHUDQGVFLVVRUVIRUHDFKJURXS
     'LYLGHLQWRJURXSVRIWKUHHWRIRXU
     *LYHHDFKJURXSDVWDUSDWWHUQVFUDWFKSDSHUDQG
    VFLVVRUV
     7KHJRDOLVWRFXWDVPDQ\VWDUVDVSRVVLEOH
     )LUVWDOORZHDFKJURXSWRVHWD60$57JRDOIRU
    WKHQXPEHURIVWDUVWKH\FDQFXWRXW
     *LYHWKHPWKUHHPLQXWHVWRWU\WRPHHWWKHLUJRDO
     $IWHUWLPHLVXSJLYHHDFKJURXSILYHPLQXWHVWR
    DQVZHUWKHHYDOXDWLRQTXHVWLRQVRQWKH$FWLYLW\
    6KHHW
     7KHQWKH\VKRXOGVHWDQRWKHU60$57JRDOIRU
    WKHQXPEHUWKH\ZDQWWRFXWLQWKUHHPLQXWHVDQG
    JRWKURXJKWKHSURFHVVDJDLQ
     :KHQJURXSVILQLVKWKHVHFRQGWLPHIROORZWKH
    DFWLYLW\ZLWK&RQQHFWLRQ4XHVWLRQV

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    &ODVVURRP
     
    *RDOVHWWLQJ
    6XSSOLHV

    5IF$POOFDUJPO2VFTUJPOT
     :KDWZDVWKHGLIIHUHQFHEHWZHHQWKHILUVWWLPHDQG
    VHFRQGWLPH"
     +RZGLGDQVZHULQJWKHTXHVWLRQVEHWZHHQWKHILUVW
    DQGVHFRQGWLPHKHOS\RXUJURXS"

    
    
    
    

    
    6FLVVRUV
    
    6FUDSSDSHU
    
    6WDUSDWWHUQV
    
    7HDP%XLOGLQJ$6RQHSHU
    JURXS

     +RZFRXOG\RXUHODWHWKHSURFHVVRIHYDOXDWLRQWR
    \RXUSHUVRQDOJRDOV"

    

    'PDVT"SFB5FBN#VJMEJOH4UBS1PXFS

    8SBQ6Q
    7KLVVLPSOHH[DPSOHVKRZHGXVKRZPXFKHDVLHULWZDVWRUHDFKRXUJRDORQFHZHWRRN
    DPRPHQWWRHYDOXDWHZKHUHZHZHUHDQGZKHUHZHZRXOGOLNHWREH:HGLVFRYHUHGWKH
    YDOXHRIDVVHVVLQJDVLWXDWLRQDQGWKHQPRYLQJIRUZDUGZLWKWKHHQGJRDOLQPLQG7KLVLV
    VRPHWKLQJZHVKRXOGGRIRUHDFKJRDOZHVHWDWVFKRRODQGLQRXUSHUVRQDOOLYHV

    5FBN#VJMEJOH

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    
    

    $$FWLRQ
    
    $:RUNLQGHSHQGHQWO\DQGLQJURXSVWRJHWWKLQJVGRQH
    
    $)RFXVRQUHVXOWV
    )&RQWLQXRXV,PSURYHPHQW
    
    )8VHLQQRYDWLYHSUREOHPVROYLQJVWUDWHJLHV

    0RGDOLWLHV
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    /RJLFDO0DWKHPDWLFDO
     
    %RGLO\.LQHVWKHWLF

    -,&YUFOTJPO
    +6(YDOXDWLQJ3ODQVDQG*RDOV
    066HWWLQJ*RDOV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB5FBN#VJMEJOH4UBS1PXFS
    -JTUFO-FBE-FBSO

    5FBN#VJMEJOH"4

    5FBN#VJMEJOH

    "DUJWJUZ4IFFU4UBS1BUUFSO

    2VFTUJPOT
    $QVZHUWKHIROORZLQJTXHVWLRQVZLWKLQ\RXUJURXS7KHVHTXHVWLRQVZLOOKHOS\RXDV\RX
    VHWDQHZJRDOWRDFKLHYH
     :KDWGLGZHOHDUQDERXWWKHJRDOZHVHW"
     ,VWKHUHDQ\WKLQJWKDWGLGQRWZRUNWKHZD\ZHWKRXJKWLWZRXOG"
     ,VWKHUHDQ\WKLQJZHZRXOGKDYHFKDQJHGDERXWWKHZD\ZHZRUNHGWRZDUGRXUJRDO"
     'LGZHGRHQRXJKZRUNWRDFFRPSOLVKRXUJRDO"
     ,VWKHUHVRPHWKLQJZHFDQVKRZRUWHOODVDUHVXOWRIRXUZRUN"

    

    'PDVT"SFB5FBN#VJMEJOH4UBS1PXFS

    5FBN#VJMEJOH
    

    -JTUFO-FBE-FBSO

    $PNNVOJDBUJPO
    t .BLJOH1FBOVU#VUUFSBOE+FMMZ
    t .PEFMJOH$PNNVOJDBUJPO
    t $PNNVOJDBUJPO5SJBM
    t $SB[Z$PNNVOJDBUJPO
    t 1JDUVSF1FSGFDU$PNNVOJDBUJPO
    t 2VFTUJPO4LJUT
    t 5FMFQIPOFUIF3VNPS.JMM
    t 5IJOLPOZPVS'FFU

    'PDVT"SFB$PNNVOJDBUJPO

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO.BLJOH1FBOVU#VUUFS+FMMZ
    -JTUFO-FBE-FBSO

    .BLJOH1#+
    %FTDSJQUJPO
    7KLVDFWLYLW\JLYHVSDUWLFLSDQWVDUHDOVHQVHRIWKH
    LPSRUWDQFHRIFRPPXQLFDWLRQDOORZLQJWKHPWRUHO\
    RQZRUGVDORQH7KLVLVDJUHDWKDQGVRQDFWLYLW\WR
    KHOSSDUWLFLSDQWVKRQHWKHLUFRPPXQLFDWLRQVVNLOOV

    %JSFDUJPOT

    $PNNVOJDBUJPO

     *LYHHDFKSDUWLFLSDQWWKHWDVNRIZULWLQJGRZQWKH
    VWHSVWRPDNHDSHDQXWEXWWHUDQGMHOO\VDQGZLFK
     +DYHWKHSDUWLFLSDQWVVZLWFKGHVFULSWLRQVDQG
    SUHWHQGDVWKRXJKWKH\GRQRWNQRZZKDW
    LVEHLQJGHVFULEHGDQGSK\VLFDOO\GRZKDWLV
    LQVWUXFWHGRQWKHSLHFHRISDSHU

    "MUFSOBUJWF0QUJPO
     3DUWLFLSDQWVZRUNLQJURXSVWRFRPHZLWK
    GLUHFWLRQVRQKRZWRPDNH3% -
     )DFLOLWDWRUUHDGVHDFKVHWRIGLUHFWLRQVDORXGDQG
    SHUIRUPVHDFKWDVNDVLWLVGHVFULEHG
     $OORZSDUWLFLSDQWVDFKDQFHWRHGLWWKHLU
    LQVWUXFWLRQV
     )DFLOLWDWRUWULHVDJDLQWRPDNHDVXFFHVVIXO
    SHDQXWEXWWHUDQGMHOO\VDQGZLFKIURPWKHUHYLVHG
    GLUHFWLRQV

    5IF$POOFDUJPO2VFTUJPOT
     :K\GLGQWWKHVDQGZLFKWXUQRXWOLNHH[SHFWHG"
     :KDWDVVXPSWLRQVGLG\RXPDNH"
     +RZGRHVWKLVH[DPSOHVKRZXVKRZZHVKRXOG
    ZRUNZLWKDQGFRPPXQLFDWHZLWKRWKHUVHVSHFLDOO\
    ZLWKWKRVHZKRZHDUHXQIDPLOLDU"
     :K\LVLWLPSRUWDQWWRKDYHERWKJRRGYHUEDODQG
    ZULWWHQFRPPXQLFDWLRQVNLOOV"

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    &ODVVURRP
     
    &RDFKLQJ3XEOLF6SHDNLQJ
    6XSSOLHV
    
    
    
    

    
    3HDQXW%XWWHU
    
    -HOO\
    
    %UHDG
    
    QRQHGLEOHDOWHUQDWLYHV

     :KDWGLGZULWLQJDVHWRILQVWUXFWLRQVVKRZ\RX
    DERXWGHWDLO"

    

    'PDVT"SFB$PNNVOJDBUJPO.BLJOH1FBOVUCVUUFS+FMMZ

    8SBQVQ
    :KRNQHZPDNLQJDSHDQXWEXWWHUDQGMHOO\VDQGZLFKFRXOGEHVRGLIILFXOW":HGLGQW
    UHDOL]HVRPHRIWKHHIIHFWVWKDWZRXOGFRPHIURPDODFNRIFRPPXQLFDWLRQVXFKDV
    IUXVWUDWLRQDQGFRPSOLFDWLRQ7KURXJKWKLVH[HUFLVHZHOHDUQHGWKHLPSRUWDQFHRISDWLHQFH
    DQGH[SODLQLQJH[DFWO\ZKDWZHPHDQLQZULWLQJ:KDWJUHDWSUDFWLFHWKLVZDVIRUFOHDU
    FRPPXQLFDWLRQLQDQ\FDUHHUSDWK

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW

    $PNNVOJDBUJPO

     $$FWLRQ
     
    $)RFXVRQUHVXOWV
     
    $&RPPXQLFDWHHIIHFWLYHO\ZLWKRWKHUV
    0RGDOLWLHV
     
    9LVXDO
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    6SDWLDO
     
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    +69LVLRQLQJ6NLOOV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO.PEFMJOH$PNNVOJDBUJPO
    -JTUFO-FBE-FBSO

    .PEFMJOH
    $PNNVOJDBUJPO
    %FTDSJQUJPO

    $PNNVOJDBUJPO

    7KLVDFWLYLW\KHOSVVWXGHQWVXQGHUVWDQG
    WKHGLIIHUHQFHEHWZHHQRQHZD\DQGWZRZD\
    FRPPXQLFDWLRQDQGDOORZVHDFKSHUVRQWRFRPHWRD
    FRQFOXVLRQRQZKLFKZD\LVPRUHHIILFLHQWLQDKDQGV
    RQDFWLYLW\

    %JSFDUJPOT
     'LYLGHLQWRJURXSVRIWZR
     2QHSHUVRQQHHGVWREHIDFLQJWKHIRQWRIWKH
    URRPZKLOHWKHRWKHULVIDFLQJWKHEDFNRUWKH
    UHDURIWKHURRP
     *LYHRQHPLQXWHWRDUUDQJHLQWRWKHLUJURXSVDQG
    IDFHWKHDSSURSULDWHGLUHFWLRQV
     7KHSHUVRQIDFLQJWKHEDFNRIWKHURRPQHHGVD
    SDSHUDQGDSHQFLORUSHQ
     7KHIDFLOLWDWRUVKRXOGGUDZDSLFWXUHRQDZULWLQJ
    VXUIDFHRQO\WKRVHSHRSOHIDFLQJWKHIURQWRIWKH
    URRPZLOOEHDEOHWRVHH
     7KHSHUVRQIDFLQJWKHIURQWRIWKHURRPLVWR
    H[SODLQWKHGUDZLQJWRWKHLUSDUWQHUZKRLV
    ORFDWHGEHVLGHWKHPEXWIDFLQJWKHRSSRVLWH
    GLUHFWLRQ

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 

     7KHSHUVRQIDFLQJWKHEDFNRIWKHURRPZLOOGUDZ
    WKHSLFWXUH

    8VHIXOQHVV

     7KRVHIDFLQJWKHEDFNRIWKHURRPPD\QRWWDONRU
    WXUQDURXQGGXULQJWKHDFWLYLW\

    6XSSOLHV

    1RWH7KHHDVLHVWWKLQJWRGUDZLVDVHULHVRI
    FRQQHFWHGJHRPHWULFVKDSHVEXW\RXPD\GUDZ
    DQ\WKLQJ\RXZDQW,WDOVRPDNHVLWHDVLHULI\RX
    GUDZWKHSLFWXUHRQHVWHSDWDWLPH/HWWLQJWKH
    SDUWLFLSDQWVJLYHGLUHFWLRQVEHWZHHQHDFKVKDSH

     
    &ODVVURRP
     
    3XEOLFGUDZLQJVXUIDFH
     
    3DSHU
     
    :ULWLQJXWHQVLOV

     &RQWLQXHLQWKLVIDVKLRQIRUDERXWWZRPLQXWHVXQWLO\RXFDQVHHFRQIXVLRQDERXWWKH
    LQVWUXFWLRQVEHLQJJLYHQDQGYDULDWLRQLQWKHGUDZLQJV5HPLQGWKHVWXGHQWVIDFLQJWKH
    EDFNQRWWRWXUQDURXQGWDONRUDVNTXHVWLRQV
    &RPSDUHSLFWXUHVIURPWKHERDUG
    7XUQWKHSDSHURYHUDQGUHYHUVHUROHV 7KHSDUWQHUZKRZDVIDFLQJWKHERDUGVKRXOG
    IDFHWKHEDFNRIWKHURRPQRZ7KHSDUWQHUZKRZDVIDFLQJWKHEDFNVKRXOGEHIDFLQJWKH
    ERDUGQRZ

    

    'PDVT"SFB$PNNVOJDBUJPO.PEFMJOH$PNNVOJDBUJPO
    7KLVWLPHWKHIDFLOLWDWRUZLOOGUDZDSLFWXUHRQWKHERDUGDQGWKHSDUWQHUIDFLQJWKH
    ERDUGZLOOJLYHLQVWUXFWLRQV7KHRQO\GLIIHUHQFHLVWKDWWKHSHUVRQGRLQJWKHGUDZLQJJHWV
    WRDVNTXHVWLRQV
    'UDZWKHVDPHW\SHRISLFWXUHDVEHIRUH
    $IWHUDFRXSOHRIPLQXWHVZKHQ\RXVHHWKDWFODVVPHPEHUVKDYHGUDZQWKHLUVNHWFKHV
    DQGKDYHWULHGDIHZFODULI\LQJTXHVWLRQVVWRSWKHDFWLYLW\DQGIROORZXSZLWKGLVFXVVLRQ

    5IF$POOFDUJPO2VFTUJPOT
     &RPSDUHWKHILUVWDWWHPSWHGSLFWXUHWRWKHSLFWXUHRQWKHERDUG
     +RZDFFXUDWHZHUHWKHYHUEDOGHVFULSWLRQVJLYHQWRWKHILUVWVWXGHQWWRGUDZ"

    $PNNVOJDBUJPO

     :KDWZDVPRVWLPSRUWDQWIRUWKHRQHJLYLQJGLUHFWLRQV"
     :KDWZDVPRVWLPSRUWDQWIRUWKHRQHUHFHLYLQJGLUHFWLRQV"
     :KDWZRXOGKDYHPDGHWKHDFWLYLW\HDVLHU"
    6HFRQGSRUWLRQ
     'LGWKLVDFWLYLW\ZRUNEHWWHU":K\"
     :KDWGRZHQHHGWRGRDVOLVWHQHUVZKHQZHDUHWU\LQJWRXQGHUVWDQGLPSRUWDQW
    LQIRUPDWLRQ"

    8SBQVQ
    7KHVHFRQGDWWHPSWWRGUDZWKHSLFWXUHIURPWKHERDUGZDVVLJQLILFDQWO\PRUHDFFXUDWH
    WKDQWKHILUVWJRDURXQG7KURXJKRXUGHEULHIZHUHDOL]HWKHHVVHQWLDOQHHGIRUWZRZD\
    FRPPXQLFDWLRQ

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    
    

    $$FWLRQ
    
    $&RPPXQLFDWHHIIHFWLYHO\ZLWKRWKHUV
    
    $(YDOXDWHDQGUHIOHFWRQDFWLRQVWDNHQDQGPDNHDSSURSULDWHPRGLILFDWLRQV
    0&RPPXQLFDWLRQ
    
    0&RPPXQLFDWHVDSSURSULDWHO\ZLWKFRZRUNHUVDQGVXSHUYLVRUV

    0RGDOLWLHV
     
    9LVXDO
     
    $XGLWRU\
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO
     
    6SDWLDO

    -,&YUFOTJPO
    067KH,PSRUWDQFHRI/LVWHQLQJ

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM
    -JTUFO-FBE-FBSO

    $PNNVOJDBUJPO5SJBM
    %FTDSJQUJPO
    7KLVDFWLYLW\DOORZVHDFKVWXGHQWWRGLVFRYHUWKH
    SURVDQGFRQVRIGLIIHUHQWW\SHVRIFRPPXQLFDWLRQ
    DQGZKLFKFRPSRQHQWVDUHQHHGHGIRUVXFFHVVIXO
    FRPPXQLFDWLRQ

    %JSFDUJPOT

    $PNNVOJDBUJPO

    +DYHILYHGLIIHUHQWSLFWXUHVDYDLODEOHRQHIRUHDFK
    RIWKHILYHYROXQWHHUV
     $VNIRUILYHYROXQWHHUV
     *LYHHDFKYROXQWHHUDGLIIHUHQWSLFWXUHDQGWHOO
    WKHPWKH\DUHWRFRPPXQLFDWHZKDWWKHSLFWXUHLV
    WRWKHUHVWRIWKHJURXS
     7HOOWKHUHVWRIWKHJURXSWKDWHDFKYROXQWHHULV
    JRLQJWRFRPPXQLFDWHWR\RXZKDWWKHLUSLFWXUHLV
    LQDGLIIHUHQWZD\
     (QFRXUDJHGWKHSDUWLFLSDQWVWRWDNHQRWHVPDNH
    DOLVWDQGGUDZZKDWWKH\VHHRUKHDUZKDWHYHU
    LWWDNHVIRUWKHPWRUHPHPEHUZKDWHDFKSLFWXUH
    LVDERXW$VNWKHSDUWLFLSDQWVWREHDVWKRURXJK
    DVSRVVLEOH
     9ROXQWHHUVHDFKXVLQJDGLIIHUHQWSLFWXUHZLOO
    XVHWKHIROORZLQJW\SHVRIFRPPXQLFDWLRQ

    2VJDL3FGFSFODF

     9ROXQWHHURQH6KRZWKHSLFWXUHIRU VHFRQGV 
    DURXQGWKHURRPDQGWKHQKLGHLW

    7LPHPLQ

     9ROXQWHHUWZR9HUEDOO\GHVFULEHWKHSLFWXUH

    8VHIXOQHVV

     9ROXQWHHUWKUHH2QDZULWLQJVXUIDFHZULWH
    ZRUGVGHVFULEHWKHSLFWXUH

     
    ))$
     
    &ODVVURRP
     
    3UHSDULQJIRUDSUHVHQWDWLRQ

     9ROXQWHHUIRXU5HGUDZWKHSLFWXUHRQD
    ZULWLQJVXUIDFH
     9ROXQWHHUILYH$FWRXWZKDWLVKDSSHQLQJLQWKH
    SLFWXUHZLWKRXWVD\LQJDQ\ZRUGV
     *LYHDVSHFLILFWLPHOLPLWVXFKDVHDFKYROXQWHHU
    H[FHSWYROXQWHHURQHJHWVVHFRQGVWR
    FRPPXQLFDWHWKHLUSLFWXUH

    1XPEHURI6WXGHQWV 

    6XSSOLHV
     
    )LYHGLIIHUHQWSLFWXUHVRI
    \RXUFKRLFH RU\RXFDQXVH
    &RPPXQLFDWLRQ$6
     
    :ULWLQJVXUIDFH

    5IF$POOFDUJPO2VFTUJPOT
     'LVFXVVZKDWHDFKSLFWXUHORRNHGOLNH
     :KDWGLIIHUHQWLGHDVRULPDJHVGLGGLIIHUHQWSHRSOHGUDZRUZULWHGRZQIRUHDFKSLFWXUH"
     :KLFKIRUPRIFRPPXQLFDWLRQZHUH\RXDEOHWRXQGHUVWDQGEHVW"

    

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM
     :KDWLVLPSRUWDQWLQJRRGFRPPXQLFDWLRQ"
     +RZGLGWKLVDFWLYLW\VKRZ\RXKRZDEOLQGRUGHDISHUVRQPLJKWLQWHUSUHW
    FRPPXQLFDWLRQ"
     'UDZFRQFOXVLRQVDVWRZKLFKSDUWRIWKHFODVVZDVPRUHDFFXUDWHLQWKHLUGHVFULSWLRQV
    VXFKDVIURQWYHUVXVWKHEDFN:K\PLJKWWKLVEHWUXH"

    8SBQVQ

    $PNNVOJDBUJPO

    7KDQN\RXWRRXUJUHDWYROXQWHHUVIRUGHPRQVWUDWLQJWKHPXOWLSOHZD\VRIFRPPXQLFDWLRQ
    ,QHDFKWULDOZHOHDUQHGVRPHWKLQJGLIIHUHQWDERXWRXUSHUFHSWLRQVDQGKRZZHFRPPXQLFDWH
    ZLWKRQHDQRWKHU7RGD\ZHKDYHOHDUQHGWKDWWKHPRVWHIIHFWLYHFRPPXQLFDWLRQFRPHVIURP
    FRPELQLQJDOOOHDUQLQJVW\OHVDXGLWRU\YLVXDODQGNLQHVWKHWLF

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
     $FWLRQ
     
    $,GHQWLI\DQGXVHUHVRXUFHV
     
    $(YDOXDWHDQGUHIOHFWRQDFWLRQVWDNHQDQGPDNHDSSURSULDWHPRGLILFDWLRQV
    0RGDOLWLHV
     
    9LVXDO
     
    $XGLWRU\
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO
     
    %RGLO\.LQHVWKHWLF

    -,&YUFOTJPO
    067\SHVRI&RPPXQLFDWLRQ

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM
    -JTUFO-FBE-FBSO

    $PNNVOJDBUJPO

    $PNNVOJDBUJPO"4

    

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM

    $PNNVOJDBUJPO
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM
    -JTUFO-FBE-FBSO

    $PNNVOJDBUJPO

    $PNNVOJDBUJPO"4

    

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM

    $PNNVOJDBUJPO
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM
    -JTUFO-FBE-FBSO

    $PNNVOJDBUJPO

    $PNNVOJDBUJPO"4

    

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM

    $PNNVOJDBUJPO
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM
    -JTUFO-FBE-FBSO

    $PNNVOJDBUJPO

    $PNNVOJDBUJPO"4

    

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM

    $PNNVOJDBUJPO
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM
    -JTUFO-FBE-FBSO

    $PNNVOJDBUJPO

    $PNNVOJDBUJPO"4

    

    'PDVT"SFB$PNNVOJDBUJPO$PNNVOJDBUJPO5SJBM

    $PNNVOJDBUJPO
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO$SB[Z$PNNVOJDBUJPO
    -JTUFO-FBE-FBSO

    $SB[Z$PNNVOJDBUJPO
    %FTDSJQUJPO
    7DNHDPLQXWHWRDOORZ\RXUVWXGHQWVWRH[SHULHQFH
    WKLVIXQYHUVLRQRIPDQJOHGFRPPXQLFDWLRQDQGWKHQ
    WDONDERXWKRZLPSRUWDQWFOHDUFRPPXQLFDWLRQLVLQ
    RXUGDLO\LQWHUDFWLRQV

    $PNNVOJDBUJPO

    ,QWKLVDFWLYLW\JURXSVZLOOEHJLYHQFDUGV
    FRQWDLQLQJZRUGVWKDWVHHPWRKDYHQRFRQQHFWLRQ
    %XWZKHQ\RXVD\WKHZRUGVWRJHWKHUWKH\VRXQG
    RXWDSKUDVH LHOHDIPHDORZQ OHDYHPHDORQH 

    %JSFDUJPOT
    %HIRUHWKHDFWLYLW\EHJLQVSUHSDUHWKH
    &UD]\&RPPXQLFDWLRQ&DUGV0DNHFRSLHVRI
    &RPPXQLFDWLRQ$6DQGFXWRXWWKHFDUGV:ULWH
    WKHDQVZHUVRQWKHEDFNRIWKHFDUGV
     'LYLGHLQWRJURXSVRIIRXU
     +DYHHDFKJURXSGHFLGHZKRZLOOEHWKHRIILFLDO
    FDUGKROGHU
     3DVVRXWWKHSUHSDUHG&UD]\&RPPXQLFDWLRQ
    &DUGV
      (DFKFDUGKROGHUZLOOKROGXSWKHFDUGVRQHDWDWLPH
     $VDWHDPUHDGDORXGWKHZRUGVH[DFWO\DVWKH\
    DSSHDURQWKHFDUGDQGILJXUHRXWWKHSKUDVHRQ
    WKHFDUG
      :KHQWKHPHPEHUVRIWKHWHDPVD\WKHFRUUHFWDQVZHU
    WKHFDUGKROGHULVWRSXWWKHFDUGGRZQ
     *LYHHDFKWHDPVHYHQPLQXWHVWRFRPSOHWHDV
    PDQ\FDUGVDVWKH\FDQ
     $QQRXQFHZKHQWKHWLPHLVXSDQGVHHZKR
    JXHVVHGWKHPRVWFUD]\SKUDVHVFRUUHFWO\

    5IF$POOFDUJPO2VFTUJPOT

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    5HWUHDW
     
    ,QWURDWDFRPPLWWHHPHHWLQJ
    6XSSOLHV
     
    &UD]\&RPPXQLFDWLRQ&DUGV
     
    &RPPXQLFDWLRQ$6

     +RZGLG\RXILJXUHRXWWKHFUD]\SKUDVH"
     :DVLWHDVLHUWRXQGHUVWDQGWKHSKUDVHZKHQ\RX
    ZHUHVD\LQJWKHZRUGVRUOLVWHQLQJ":K\"
     :KDWFDQZHOHDUQDERXWFRPPXQLFDWLRQIURPWKLVDFWLYLW\"
     7KHVH&UD]\&RPPXQLFDWLRQ&DUGVZHUHOLNHDGLIIHUHQWODQJXDJHZHKDGWRPDVWHU'R
    \RXHYHUIHHOOLNH\RXDUHVSHDNLQJDGLIIHUHQWODQJXDJHZKHQ\RXWU\WRFRPPXQLFDWH"
    'HVFULEHWKHUHVXOW
     +RZGRHVYHUEDODQGQRQYHUEDOFRPPXQLFDWLRQKHOSJHWDPHVVDJHDFURVVVXFFHVVIXOO\"

    

    'PDVT"SFB$PNNVOJDBUJPO$SB[Z$PNNVOJDBUJPO

    8SBQVQ
    1RZZHNQRZWKDWVRPHWLPHVWKHPRVWLPSRUWDQWWKLQJ\RXFDQGRZKLOHFRPPXQLFDWLQJ
    ZLWKRQHDQRWKHULVFDUHIXOO\OLVWHQWRZKDWLVEHLQJVDLG:HPXVWSUDFWLFHEHFRPLQJ
    PDVWHUFRPPXQLFDWRUVVRWKDWFRQYHUVDWLRQVGRQWWXUQLQWRWKHW\SHRISKUDVHVZHKDYH
    MXVWXQORFNHG$OORZRXUVHOYHVWRZLQWKHFRPPXQLFDWLRQJDPHHYHU\GD\VRWKDWRXU
    FRQYHUVDWLRQVGRQRWHQGXSEHLQJMLEEHUMDEEHU

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW

    $PNNVOJDBUJPO

    
    
    
    

    0&RPPXQLFDWLRQ
    
    0&RPPXQLFDWLRQVDSSURSULDWHO\ZLWKFRZRUNV
    -0HQWDO*URZWK
    
    -7KLQNFUHDWLYHO\

    0RGDOLWLHV
     
    $XGLWRU\
     
    9LVXDO
    0XOWLSOH,QWHOOLJHQFHV
     
    /LQJXLVWLF

    -,&YUFOTJPO
    +6&RPSRQHQWVRIWKH&RPPXQLFDWLRQ3URFHVV
    2Q&RPPXQLFDWLRQ$6IRUWKHFUD]\FRPPXQLFDWLRQDFWLYLW\<RXZLOOFXWWKHPRXW
    DQGSDVWHRQHSHULQGH[FDUG7KHDQVZHUWRWKHFDUGLVEHORZWKHSKUDVHLQLWDOLFV'R
    QRWSXWWKHDQVZHURQWKHIURQWRIWKHFDUG3OHDVHZULWHWKLVDQVZHURQWKHEDFNRIWKH
    FRUUHVSRQGLQJFDUGLQWKHWRSULJKWFRUQHULQSHQFLO7KHFDUGKROGHUZLOOEHDEOHWRVHHWKH
    DQVZHUDVKHVKHKROGVWKHFDUGXSIRUWKHJURXSEXWWKHJURXSZLOOQRWEHDEOHWRVHHWKH
    DQVZHU

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO$SB[Z$PNNVOJDBUJPO
    -JTUFO-FBE-FBSO

    )BTUF
    3BLF
    )BU

    8IZ
    4LZ

    6T)F
    $SJDL
    0XFE

    0QQPTF
    (VBSE

    "TUSBZDBU

    8JTFHVZ

    "TFDSFUDPEF

    "QPTUDBSE

    8IBU
    )FBSTF
    6Q-JF

    0BL
    "CF
    "CF

    .BZ$VTT
    4VDL+FTU
    $IJO

    "SSBJHOFE
    )F-BZ

    8BUFS4VQQMZ

    0LBZ#BCF

    .BLFB
    TVHHFTUJPO

    "3BJO%FMBZ

    )BVM8FJHI
    4FXFO
    .JNF)JOE

    $BMM'FFU
    )F8PSN
    &ML

    1BDJmD$PBTU

    "MXBZTPONZ
    NJOE

    $PGGFF UFBPS
    NJML

    "TDMFBSBTB#FMM

    "NFO
    "TL
    )VSU

    )VTI
    )FBWZ
    'BO

    -BVHI
    5BO
    %JE

    4QPSU
    *U
    4LJFS

    "NJOJTLJSU

    "$IFWZWBO

    -FGUIBOEFE

    4QPSUTHFBS

    )BT
    4LJOOZ
    8PO

    -FBG
    .FBM
    0XO

    'PF
    8BTUF
    )PQ

    1FQQFS
    "MMFZ

    "TLBOZPOF

    -FBWFNFBMPOF

    'PVSXBZTUPQ

    1FQSBMMZ

    1VT*G
    )JDL
    )PTU

    "TL-FFS
    &TTBZ
    #BJM

    $PNNVOJDBUJPO

    $PNNVOJDBUJPO"4

    

    'PDVT"SFB$PNNVOJDBUJPO$SB[Z$PNNVOJDBUJPO

    $PNNVOJDBUJPO
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO1JDUVSF1FSGFDU$PNNVOJDBUJPO
    -JTUFO-FBE-FBSO

    1JDUVSF1FSGFDU
    $PNNVOJDBUJPO
    %FTDSJQUJPO

    $PNNVOJDBUJPO

    ,QWKLVDFWLYLW\VWXGHQWVZLOOOHDUQWKHLPSRUWDQFH
    RIJLYLQJVWHSE\VWHSGLUHFWLRQVZKLOHEHLQJ
    DEOHWRXVHWKHLUOLVWHQLQJDQGFUHDWLYHVNLOOV
    +HOSLQJVWXGHQWVWRXQGHUVWDQGWKHLPSRUWDQFHRI
    FROODERUDWLRQDQGWZRZD\FRPPXQLFDWLRQ

    %JSFDUJPOT
    %HIRUHWKHDFWLYLW\EHJLQVWKHLQVWUXFWRUPXVWGUDZ
    DSLFWXUHWKDWFRQWDLQVWKHIROORZLQJ0RXQWDLQVLQ
    WKHGLVWDQFHUDLQERZFRQQHFWLQJWZRPRXQWDLQV
    DWUHHWZRELUGVZDWHUIDOOIORZLQJEHWZHHQWKH
    PRXQWDLQVDQGWKHVXQ
     +DYHDYROXQWHHUFRPHIRUZDUGDQGVKRZWKHP
    WKHSLFWXUH\RXKDYHFUHDWHGIRUDERXW
    VHFRQGV
     3DVVRXWPDUNHUVDQGEODQNSLHFHVRISDSHUWR
    HDFKVWXGHQW
     ,QVWUXFWWKHYROXQWHHUWRJLYHGLUHFWLRQVWR
    WKHFODVVRQKRZWRGUDZWKHSLFWXUHVRWKHLU
    GUDZLQJVPDWFKWKHIDFLOLWDWRUVSLFWXUH
     2QDVHSDUDWHVKHHWRISDSHUOLVWWKHIROORZLQJ
    ZRUGVDQGWHOOWKHYROXQWHHUWKDWWKHIROORZLQJ
    ZRUGVFDQQRWEHXVHG
    5DLQERZ
    0RXQWDLQV
    6XQ
    7UHH
    :DWHUIDOO

    2VJDL3FGFSFODF
    7LPH PLQ
    1XPEHURI6WXGHQWV$Q\
    8VHIXOQHVV
     
    &ODVVURRP
     
    5HWUHDW
    6XSSOLHV
     
    %ODQNSDSHU
     
    0DUNHUV

     3DUWLFLSDQWVDUHWRGUDZRQO\ZKDWWKHYROXQWHHU
    JLYHVGLUHFWLRQVWRGUDZQRWKLQJPRUHQRWKLQJOHVV
     *LYHWKHYROXQWHHUWZRPLQXWHVWRGHVFULEHWKHSLFWXUHWRWKHUHVWRIWKHJURXS
     7KDQNWKHYROXQWHHUDQGUHYHDOWKHRULJLQDOSLFWXUHWRWKHJURXSWRFRPSDUHWKH
    GUDZLQJV

    

    'PDVT"SFB$PNNVOJDBUJPO1JDUVSF1FSGFDU$PNNVOJDBUJPO

    5IF$POOFDUJPO2VFTUJPOT
     'LG\RXUSLFWXUHORRNOLNHWKHSLFWXUHEHLQJGHVFULEHG":K\RUZK\QRW"
     :KDWGLUHFWLRQVGLG LQVHUWQDPH JLYHWKDWZRUNHGIRU\RX"
     :KDWGLUHFWLRQVPD\KDYHEHHQXQFOHDU"
     :KDWGRHVLWWDNHWRJLYHFOHDUGLUHFWLRQV"
     &DQ\RXWKLQNRIDWLPHZKHQ\RXZHUHJLYHQGLUHFWLRQVWKDWZHUHXQFOHDU":KDWZDVWKH
    UHVXOW"
     :K\GRHVPLVFRPPXQLFDWLRQXVXDOO\RFFXU"

    $PNNVOJDBUJPO

    8SBQVQ
    $VZHFDQVHHWKHQHHGIRUFOHDUYHUEDOGLUHFWLRQVZDVLPSRUWDQWLQWKLVDFWLYLW\:HFDQ
    FOHDUO\XQGHUVWDQGKRZPXFKHDVLHULWZRXOGKDYHEHHQLIWKHGUDZHUVFRXOGKDYHVHHQ
    WKHSLFWXUHIRUWKHPVHOYHVEXWLQWKLVDFWLYLW\ZHKDGWRUHO\RQVRPHHOVHVGLUHFWLRQDQG
    JXLGDQFH7KLVV\PEROL]HVGLIIHUHQWVNLOOVDQGWDOHQWVDPRQJDJURXS:HQHHGWRUHO\RQ
    RWKHUVDVDWHDPWREHVXFFHVVIXO7KLVZDVDIRUPRIRQHZD\FRPPXQLFDWLRQ/HWVIRFXV
    RQWZRZD\FRPPXQLFDWLRQWRKHOSRXUPHVVDJHVFRPHDFURVVORXGDQGFOHDU

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    $$FWLRQ
    
    $)RFXVRQUHVXOWV
    
    $&RPPXQLFDWHHIIHFWLYHO\ZLWKRWKHUV
    
    $(YDOXDWHDQGUHIOHFWRQDFWLRQWDNHQDQGPDNHDSSURSULDWHPRGLILFDWLRQV

    0RGDOLWLHV
     
    9LVXDO
     
    $XGLWRU\
    0XOWLSOH,QWHOOLJHQFHV
     
    /LQJXLVWLF
     
    6SDWLDO

    -,&YUFOTJPO
    +63UHVHQWDWLRQ7LSV6NLOOVDQG6WUDWHJLHV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO2VFTUJPOJOH4LJUT
    -JTUFO-FBE-FBSO

    2VFTUJPOJOH4LJUT
    %FTDSJQUJPO
    7KLVDFWLYLW\UHTXLUHVVWXGHQWVWRFRPPXQLFDWH
    RQO\E\DVNLQJTXHVWLRQV7KHUHVWRIWKHJURXSPXVW
    JXHVVWKHVFHQDULRHDFKJURXSLVHQDFWLQJ

    %JSFDUJPOT
     'LYLGHLQWRJURXSVRIILYH

    $PNNVOJDBUJPO

     (DFKJURXSZLOOZRUNWRJHWKHUWRSHUIRUPDQ
    LPSURPSWXVNLW
     +DYHHDFKJURXSFRPHWRWKHIURQWRIWKHURRP
    DQGFKRRVHRQHRIWKHIROORZLQJVFHQDULRV
     <RXDUHILYHEDVNHWEDOOSOD\HUVEHIRUHDELJ
    JDPH
     <RXDUHILYHKLJKVFKRROVWXGHQWVDWSURP
    ZLWKRXWDGDWH
     <RXDUHILYHVWXGHQWVVHQWWRWKHSULQFLSDOV
    RIILFHIRUEHLQJODWHWRVFKRRO
     <RXDUHILYHVWXGHQWVSUHSDULQJIRUDFDQQHG
    IRRGGULYH
     <RXDUHILYHVWXGHQWVDERXWWRFRPSHWHLQWKH
    VWDWHVSHOOLQJEHH

    2VJDL3FGFSFODF

     <RXDUHILYHVWXGHQWVVNLSSLQJVFKRROWRJRWR
    WKHPRYLHV

    7LPHPLQ

     <RXDUHILYHVWXGHQWVORVWRQWKHZD\WRD
    IRRWEDOOJDPH

    8VHIXOQHVV

     7KHWDVNLVWRDFWRXWZKDWWKHVHVFHQDULRVPLJKW
    VRXQGOLNH
     8VHRQO\TXHVWLRQVWRFRPPXQLFDWHDQG
    FRPPXQLFDWHZLWKHDFKRWKHUIRUDWOHDVWRQH
    PLQXWH
     :KHQDVNLQJDTXHVWLRQHDFKSHUVRQPXVWORRN
    DWVRPHRQHHOVHLQWKHLUJURXSVLJQLI\LQJZKRLV
    QH[WWRDVNDTXHVWLRQ

    1XPEHURI6WXGHQWV 
     
    ))$5HWUHDW
     
    &ODVVURRP
     
    :KLOHZRUNLQJZLWKVWXGHQWV
    IRUWKHLULPSURPSWXVSHHFK
    6XSSOLHV
     
    6FHQDULRVW\SHGRUZULWWHQRQ
    SLHFHVRISDSHU

     :KHQRQHPLQXWHLVXSWKHUHVWRIJURXSPXVWGHFLGHWKHVFHQDULREHLQJDFWHGRXW
     $OORZHDFKJURXSWLPHWRSHUIRUPWKHLPSURPSWXVNLW

    

    'PDVT"SFB$PNNVOJDBUJPO2VFTUJPOJOH4LJUT

    5IF$POOFDUJPO2VFTUJPOT
     :KDWW\SHVRITXHVWLRQVGLGWKH\DVN"
     :HUHPRVWRIWKHTXHVWLRQVDEOHWREHDQVZHUHGZLWKDVLPSOH\HVRUQR"
     +RZGLG\RXILJXUHRXWWKHVFHQDULR"
     :DVLWKDUGWRFRQWLQXHDFRQYHUVDWLRQIRURQHPLQXWHZLWKRQO\TXHVWLRQV":K\"
     :RXOG\RXKDYHEHHQDEOHWRJXHVVVRRQHURUPRUHDFFXUDWHO\ZKDWWKHVFHQDULRZDVLI
    WKH\ZHUHDEOHWRDQVZHUHDFKTXHVWLRQEHIRUHDVNLQJDQRWKHU"
     :KDWFDQZHOHDUQDERXWFRPPXQLFDWLRQIURPWKHVHVNLWV"

    $PNNVOJDBUJPO

    8SBQVQ
    7KLVDFWLYLW\KHOSHGXVXQGHUVWDQGWKHQHHGIRUWZRZD\FRPPXQLFDWLRQSUDFWLFH
    SHUIRUPLQJLQIURQWRISHRSOHDQGSUDFWLFHJRLQJZLWKWKHIORZLQDQLPSURPSWXVLWXDWLRQ
    ,WLVLPSRUWDQWWRSUHVHQW\RXUVHOILQWKHULJKWPDQQHUQRPDWWHUZKDWVLWXDWLRQ\RXDUHLQRU
    ZKDWFKDQJHVRFFXULQDVLWXDWLRQ

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    +6RFLDO*URZWK
    
    +3UHVHQWVHOIDSSURSULDWHO\LQYDULRXVVHWWLQJV
    2)OH[LELOLW\$GDSWDELOLW\
    
    20DQDJHVFKDQJH

    0RGDOLWLHV
     
    $XGLWRU\
     
    .LQHVWKHWLF
     
    9LVXDO
    0XOWLSOH,QWHOOLJHQFHV
     
    /LQJXLVWLF
     
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    +63UHVHQWDWLRQ7LSV6NLOOVDQG6WUDWHJLHV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO5FMFQIPOFBOEUIF3VNPS.JMM
    -JTUFO-FBE-FBSO

    5FMFQIPOFBOEUIF
    3VNPS.JMM
    %FTDSJQUJPO

    $PNNVOJDBUJPO

    7KHWLPHOHVVFODVVLFRISOD\LQJWHOHSKRQHLVRQH
    RIWKHEHVWZD\VWRXQGHUVWDQGWKHUHODWLRQVKLS
    EHWZHHQTXDOLW\YHUVHVTXDQWLW\LQFRPPXQLFDWLRQ
    7KLVDFWLYLW\EULQJVWROLIHWKHUHDOLW\RIKRZTXLFNO\D
    PHVVDJHFDQEHFRPHGLVWRUWHG

    %JSFDUJPOT
     $VVHPEOHWKHJURXSLQDVLQJOHILOHOLQH
     7ZRUXOHVWRIROORZ)LUVWLWQHHGVWREHTXLHWLQ
    WKHURRP6HFRQGWKHJRDOLVWRJHWWKHPHVVDJH
    RQWKHILUVWWU\VROLVWHQFDUHIXOO\GRQRWDVNDQ\
    TXHVWLRQVDQGGRQRWUHSHDWWKHSKUDVH
     :KLVSHUDVHQWHQFHWRVRPHRQHWKHQWKDWSHUVRQ
    ZLOOZKLVSHULWWRWKHQH[WSHUVRQ
     6HQGWKLVPHVVDJHDURXQGWKHURRPTXLHWO\DQG
    VHHZKDWPHVVDJHFRPHVRXWDWWKHRWKHUHQG
     (DFKSHUVRQVMRELVWROLVWHQFDUHIXOO\DQGSDVV
    WKHPHVVDJHRQDVDFFXUDWHO\DVSRVVLEOH
     :KLVSHUWKHVHQWHQFH6DPDQG-DQHWZLVKHGIRU
    DPLOOLRQGXFNVWRILOOWKHSRQG
     (DFKVWXGHQWZKLVSHUVWKHVDPHSKUDVHWRWKH
    QH[WXQWLOHYHU\RQHKDVKHDUGWKHPHVVDJH
     7KHODVWVWXGHQWWRKHDUWKHPHVVDJHVD\VLWDORXG
    IRUWKHFODVVWRKHDU
     7KHSKUDVHZLOOEHFRPHJDUEOHGRUVZLWFKHG
    DURXQGWRYDU\LQJGHJUHHVDVLWPRYHVWKURXJKRXW
    WKHURRP
    3RVVLEOHUHVSRQVH6RPHHQFKDQWHGZLWFKJRWD
    PLOOLRQEXFNVWREXLOGDZDQG

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
    
    
    
    

    
    5HWUHDW
    
    &ODVVURRP
    
    ))$
    
    :KHQFRQIOLFWVDULVH

    6XSSOLHV
     
    1RQH

    $OORZWKHSDUWLFLSDQWVWRWDNHWXUQVFRPLQJXSZLWK
    WKHLURZQSKUDVHVDQGEHLQJDWWKHHQGWRDQQRXQFH
    WKHWHOHSKRQHPHVVDJH

    5IF$POOFDUJPO2VFTUJPOT
     'LGHYHU\RQHKHDUWKHVDPHPHVVDJH"
     :KDWLVWKHGLIIHUHQFHEHWZHHQKHDULQJDQGFRPSUHKHQGLQJ"
     'R\RXWKLQNWKHPHVVDJHZRXOGKDYHEHHQWUDQVIHUUHGEHWWHULIWKHVHQGHUZRXOGKDYH
    EHHQDEOHWRUHSHDWWKHPHVVDJH"

    

    'PDVT"SFB$PNNVOJDBUJPO5FMFQIPOFBOEUIF3VNPS.JMM
     :KDWLPSDFWZRXOGEHLQJDEOHWRDVNTXHVWLRQVKDYHRQWKLVDFWLYLW\"
     :K\LVOLVWHQLQJLPSRUWDQW"
     :KDWVNLOOVZHUHXVHGWROLVWHQGXULQJWKLVDFWLYLW\"
     :KDWGRHVWKLVWHDFKXVDERXWKRZUXPRUVJHWVWDUWHG"
     $VDSHUVRQDOPLVVLRQZKDWFDQZHGRWRHOLPLQDWHUXPRUV"

    8SBQVQ
    $PNNVOJDBUJPO

    :HYHKDGVRPHJUHDWFRQYHUVDWLRQDERXWKRZWRIDFLOLWDWHTXDOLW\FRPPXQLFDWLRQ$V
    ZHFDQVHHFRPPXQLFDWLQJLQODUJHTXDQWLWLHVPHDQVQRWKLQJLIZHGRQRWKDYHDTXDOLW\
    XQGHUVWDQGLQJRIWKHPHVVDJH/HWVDOOPDNHDSRLQWWRIXOO\XQGHUVWDQGRQHDQRWKHUDQG
    RQO\SDVVDURXQGIDFWXDOLQIRUPDWLRQWKDWZLOOEHQHILWWKHZKROHJURXS

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    $$FWLRQ
    
    $&RPPXQLFDWHHIIHFWLYHO\ZLWKRWKHUV
    %5HODWLRQVKLSV
    
    %3DUWLFLSDWHHIIHFWLYHO\DVDWHDPPHPEHU

    0RGDOLWLHV
     
    $XGLWRU\
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO
     
    /LQJXLVWLF

    -,&YUFOTJPO
    067KH,PSRUWDQFHRI/LVWHQLQJ

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO5IJOL0O:PVS'FFU
    -JTUFO-FBE-FBSO

    5IJOLPO:PVS'FFU
    %FTDSJQUJPO
    ,QWKLVDFWLYLW\HDFKSDUWLFLSDQWZLOOKDYHDFKDQFH
    WRH[SODLQDVPXFKDVWKH\NQRZDERXWDUDQGRP
    WRSLFRUWRWHOODVWRU\7KLVZLOODOORZVWXGHQWVWR
    WKLQNRQWKHLUIHHWLQDFRPIRUWDEOHVLWXDWLRQ

    %JSFDUJPOT

    $PNNVOJDBUJPO

     &RS\&RPPXQLFDWLRQ$6DQGFXWLPSURPSWX
    WRSLFVLQWRVWULSV
     3ODFHLGHDVLQWRDFRQWDLQHU
     +DYHHDFKSHUVRQFRPHWRWKHIURQWRIWKHURRP
    DQGGUDZDUDQGRPWRSLF
     7KH\ZLOOUHDGWKHLUWRSLFDQGKDYHVHFRQGVWR
    EUDLQVWRUP
     2QFHWKHVHFRQGVLVXSWKH\PXVWJLYHDWZR
    PLQXWHVSHHFK
     $IWHUHDFKSHUVRQKDVKDGDWXUQGLVFXVVSRVLWLYH
    DQGQHJDWLYHDUHDVRIWKHVWXGHQWVVSHHFKHV

    5IF$POOFDUJPO2VFTUJPOT
     +RZGLG\RXIHHODERXWSXEOLFVSHDNLQJEHIRUH
    WKLVDFWLYLW\"
     :KDWHPRWLRQGLG\RXKDYHDV\RXVWRRGLQIURQW
    RIHYHU\RQH"
     :KHQZRXOG\RXKDYHWRJLYHDVSHHFKOLNHWKLV"
     ,I\RXZHUHWRGRLWDJDLQKRZZRXOG\RXDSSURDFK
    WKHVLWXDWLRQGLIIHUHQWO\"

    8SBQVQ
    +LQGVLJKWLV DOZD\V  EXW WR EH HIIHFWLYH 
    FRPPXQLFDWRUVZHPXVWWKLQNRQRXUIHHWDQGEH
    DEOHWRLQWHOOLJHQWO\VSHDNDWDQ\RFFDVLRQ7KLV
    VNLOOZLOOQRWRQO\KHOS\RXZKLOH\RXDUHLQVFKRRO
    DQGWKURXJKRXW))$LWZLOODOVRKHOS\RXQDLODMRE
    LQWHUYLHZRUDIDPLO\FHOHEUDWRU\WRDVW

    2VJDL3FGFSFODFT
    7LPHDSSUR[PLQ
    'HSHQGVRQQXPEHURIVWXGHQWV
    1XPEHURI6WXGHQWV$Q\
    8VHIXOQHVV
    
    
    
    

    
    ))$
    
    &ODVVURRP
    
    5HWUHDW
    
    3UHSDULQJIRU,PSURPSWX
    SXEOLFVSHDNLQJFRQWHVWV

    6XSSOLHV
     
    ,PSURPSWXWRSLFV
     
    &RQWDLQHUWRPL[WRSLFVXS

    

    'PDVT"SFB$PNNVOJDBUJPO5IJOL0O:PVS'FFU
    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    0&RPPXQLFDWLRQ
    
    00DNHVHIIHFWLYHEXVLQHVVSUHVHQWDWLRQV
    2)OH[LELOLW\DQG$GDSWDELOLW\
    
    2([SHULPHQWVDQGWDNHVULVNV

    0RGDOLWLHV
     
    $XGLWRU\
    0XOWLSOH,QWHOOLJHQFHV
     
    /LQJXLVWLF

    $PNNVOJDBUJPO
    

    -,&YUFOTJPO
    063ODQQLQJD3XEOLF3UHVHQWDWLRQ

    -JTUFO-FBE-FBSO

    'PDVT"SFB$PNNVOJDBUJPO5IJOL0O:PVS'FFU
    -JTUFO-FBE-FBSO

    $PNNVOJDBUJPO"4

    *NQSPNQUV5PQJDT
    %FTDSJCFBUJNFJOZPVSMJGFXIFOZPVXFSFBGSBJE
    %FTDSJCFBUJNFJOZPVSMJGFXIFOZPVXFSFQSPVEPGBOBDDPNQMJTINFOU
    %FTDSJCFBUJNFJOZPVSMJGFXIFOZPVIBEUPQMBOBOFWFOU8IBUXFSFUIFTUFQT

    5FMMUIFHSPVQBCPVUZPVSGBWPSJUFNPWJFCZEFTDSJCJOHUIFQMPU
    5FMMUIFHSPVQBCPVUBUJNFXIFOZPVDPVMEOUTUPQMBVHIJOH
    5FMMUIFHSPVQBCPVUZPVSGBNJMZ
    %FTDSJCFBUFBDIFSPSBOFWFOUGSPNFMFNFOUBSZTDIPPM

    $PNNVOJDBUJPO

    5FMMUIFHSPVQFWFSZUIJOHZPVLOPXBCPVUDIBOHJOHBUJSF

    %FTDSJCFBUJNFXIFOZPVIFMQFETPNFPOF8IBUEJEZPVEP )PXEJEJUNBLFZPV
    GFFM
    5FMMUIFHSPVQBCPVUZPVSGBWPSJUFTFBTPOBOEBMMUIFSFBTPOTJUJTZPVSGBWPSJUF
    %FTDSJCFBTQPSUPSIPCCZZPVFOKPZ
    5FMMUIFHSPVQFWFSZUIJOHZPVLOPXBCPVUNBLJOHDIFFTF
    %FTDSJCFIPXUPNBLFZPVSGBWPSJUFSFDJQF8IZJTJUZPVSGBWPSJUF
    %FTDSJCFIPXZPVSEBZIBTHPOFVQUPUIJTQPJOU
    %FTDSJCFZPVSESFBNWBDBUJPOXIFSFXPVMEZPVHP XIPXPVMECFXJUIZPV FUD
    %FTDSJCFZPVSESFBNKPCXIBUTUFQTEPZPVOFFEUPUBLFUPBDIJFWFUIJTKPC
    5FMMUIFHSPVQFWFSZUIJOHZPVLOPXBCPVUBDIBSBDUFSGSPNIJTUPSZ
    *GZPVXFSFHPJOHUPCFBOZ%JTOFZDIBSBDUFSXIJDIPOFXPVMEZPVCFBOEXIZ
    

    'PDVT"SFB$PNNVOJDBUJPO5IJOL0O:PVS'FFU

    $PNNVOJDBUJPO
    

    -JTUFO-FBE-FBSO

    3FMBUJPOTIJQT
    t #BSSJFS#BMMPPO#BTI
    t *NQPSUBODFPG3FMBUJPOTIJQT
    t #BSUFSJOH#BTJDT
    t $JWJD-FBEFSTIJQ

    'PDVT"SFB3FMBUJPOTIJQT

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB3FMBUJPOTIJQT#BSSJFS#BMMPPO#BTI
    -JTUFO-FBE-FBSO

    #BSSJFS#BMMPPO#BTI
    %FTDSJQUJPO
    6HUYLFHVRXQGVOLNHDJUHDWLGHD:K\LVLWWKDWRXU
    LQWHQWLRQVDQGWKHLPSDFWFDQEHVRYHU\GLIIHUHQW"
    +HOSVWXGHQWVUHDOL]HFRPPRQEDUULHUVWRVHUYLFH
    ZLWKWKLVRXWRIWKHLUVHDWVEDOORRQEDVK

    %JSFDUJPOT
    1RWH%DOORRQVFDQEHSUHSDUHGSULRU25DOORZ
    SDUWLFLSDQWVWREORZWKHPXS:ULWHRQHRIHDFKRI
    WKHIRXUEDUULHUVWRVHUYLQJRQVPDOOVOLSVRISDSHU
    5ROOXSWKHVOLSVDQGVWXIIHDFKLQVLGHDEDOORRQ
    %ORZXSEDOORRQVIRUHDFKSDUWLFSDQW

    /DFNRI7LPH

    /DFNRI0RQH\

    /DFNRI$ELOLW\

    1HJDWLYH$WWLWXGH

     3DVVRXWWKHEDOORRQVRQHWRHDFKVWXGHQW
    DURXQGWKHURRP
     6WXGHQWVVWDQGDQGKDYHRQHPLQXWHWREDWWKH
    EDOORRQVDURXQGWKHURRPWU\LQJQRWWROHWDQ\
    WRXFKWKHJURXQG

    2VJDL3FGFSFODF
    7LPHPLQ

     ,QVWUXFWSDUWLFLSDQWVDWDVSHFLILFFRPPDQGWR
    WKURZDOOEDOORRQVLQWKHDLU

    1XPEHURI6WXGHQWV 

     7KHFKDOOHQJHLVWRNHHSDOOWKHEDOORRQVLQWKHDLUIRU
    RQHPLQXWHQRQHVKRXOGWRXFKWKHJURXQG $Q\
    WKDWWRXFKWKHJURXQGPXVWVWD\RQWKHJURXQG

     
    5HWUHDW
     
    :KLOHFUHDWLQJ3URJUDPRI
    $FWLYLWLHV

     $IWHURQHPLQXWHVWRSWKHJDPHDQGLQVWUXFW
    SDUWLFLSDQWVWRJUDEDEDOORRQWKDWLVFORVHWRWKHP
    DQGKROGLW

    6XSSOLHV

     6HHKRZZHOOWKH\GLG&RXQWWKHQXPEHURI
    EDOORRQVRQWKHIORRU

    3FMBUJPOTIJQT

    #BSSJFSTUPTFSWJOH

    8VHIXOQHVV

     
    %DOORRQV
     
    6PDOOSLHFHVRISDSHUZLWK
    EDUULHUVZULWWHQRQWKHP

     $VNWKRVHQRWKROGLQJDEDOORRQWRUHWULHYHRQH
    IURPWKHIORRU
     2QFHHYHU\RQHKDVDEDOORRQDJDLQDVNSDUWLFLSDQWVWRUDLVHWKHLUKDQGLILWKDVDVOLSRI
    SDSHULQVLGH
     $VNWKRVHZLWKVRPHWKLQJLQVLGHWRFRPHIRUZDUG
    ,QVWUXFWWKHUHVWRIWKHSDUWLFLSDQWVZLWKRXWVRPHWKLQJLQWKHLUEDOORRQVWRSRSWKHLU
    EDOORRQVDOOWRJHWKHU

    

    'PDVT"SFB3FMBUJPOTIJQT#BSSJFS#BMMPPO#BTI
    ,GHQWLI\EDUULHUVWRVHUYLQJDVNIRXUSHRSOHRQHDWDWLPHLQWKHIURQWWRSRSWKH
    EDOORRQUHDGWKHVOLSRISDSHUDQGWKHQWHDULWLQKDOI
    +DYHVWXGHQWVUHWXUQWRWKHLUVHDWV

    5IF$POOFDUJPO2VFTUJPOT
     :KDWGR\RXWKLQNWKHVHVOLSVRISDSHUUHSUHVHQW"
     +RZDUHWKH\GLIIHUHQWRUVLPLODUWRZKDWZHDOUHDG\NQRZDERXWVHUYLQJ"
     7KLQNEDFNWRWKHEDOORRQV,PDJLQHWKRVHEDOORRQVUHSUHVHQWDOORIWKHDFWLYLWLHV\RXDUH
    LQYROYHGLQWKHWKLQJV\RXVSHQG\RXUPRQH\RQRUZD\V\RXXVH\RXUDELOLWLHV:KDWGLG
    ZHGR"
    

    ([SHFWHGUHVSRQVHNHSWEDOORRQVLQWKHDLU

     :KHQDOORIWKHVHWKLQJVZHUHIO\LQJDURXQGKRZHDV\ZDVLWWRLGHQWLI\DQGFDSWXUHWKH
    EDOORRQVWKDWFRQWDLQHGEDUULHUV"
     :KDWGLGZHKDYHWRGRWRILQGWKRVHEDUULHUV"
     :KDWNLQGRIDFWLRQGLGLWWDNH"

    3FMBUJPOTIJQT

    

    ([SHFWHGUHVSRQVHV+DGWRVWRSMXJJOLQJVRPDQ\EDOORRQVKDGWRJHWULGRIRQHV
    ZHGLGQWQHHGKDGWRWDNHSK\VLFDODFWLRQWRLGHQWLI\EDUULHUV

    8SBQVQ
    7KLVDFWLYLW\V\PEROL]HGWKHQHHGWRWDNHDFWLRQDJDLQVWWKRVHORRPLQJEDUULHUV:H
    PXVWJHWWRWKHURRWRIWKHEDUULHUDVZHGLGE\SRSSLQJWKHEDOORRQVLGHQWLI\LQJWKH
    EDUULHUDQGGHVWUR\LQJLW:K\VWULYHGLOLJHQWO\WRNHHSDOORIWKHEDOORRQVLQWKHDLUWKDWDUH
    UHSUHVHQWDWLYHRIRXUGLIIHUHQWDFWLYLWLHVDQGGD\WRGD\KDSSHQLQJV",GHQWLI\LQJEDUULHUVDQG
    GHVWUR\LQJWKHPLVRXUJRDO/HWVWDNHSRWHQWLDOEDUULHUVLQWRFRQVLGHUDWLRQZKLOHSODQQLQJ
    RXUQH[WDFWLYLW\RUVHUYLFH

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
     %5HODWLRQVKLSV
    
    %(OLPLQDWHEDUULHUVLQEXLOGLQJUHODWLRQVKLSV
     &9LVLRQ
    
    &$GDSWWRRSSRUWXQLWLHVDQGREVWDFOHVIURPPXOWLSOHSHUVSHFWLYHV
    0RGDOLWLHV
    
    9LVXDO
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    %RGLO\.LQHVWKHWLF
     
    6SDWLDO
     
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    +62SSRUWXQLWLHVWR6HUYH2WKHUV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB3FMBUJPOTIJQT-FBO0O.F
    -JTUFO-FBE-FBSO

    -FBOPO.F
    %FTDSJQUJPO
    ,QWKLVDFWLYLW\SDUWLFLSDQWVZLOOVHHWKHYDOXHRI
    EXLOGLQJWUXVWLQJDQGKRQHVWUHODWLRQVKLSVZLWK
    RWKHUV7KLVVKRXOGKHOSXVWRUHDOL]HWKDWEXLOGLQJ
    WKHULJKWW\SHRIUHODWLRQVKLSVLVWKHIRXQGDWLRQRI
    VXFFHVV

    %JSFDUJPOT
     7HOOWKHJURXS7RSUHSDUHIRUWRGD\VDFWLYLW\
    \RXQHHGWRFRPSOHWHWKHIROORZLQJTXL]
     4XL]5XOHV

    E <RXKDYHWZRPLQXWHVWRFRPSOHWHWKHTXL]
    F 2QO\WKRVHLQGLYLGXDOVVFRULQJSHUFHQW
    ZLOOHDUQDQ$RQWKHTXL]WKHUHVWRI\RX
    ZLOOIDLO
     7DNHQRTXHVWLRQV
     3DVVRXWWKHTXL]WRHDFKSDUWLFLSDQW
     $OORZWKHPWREHJLQZRUNLQJZLWKXSWRWKUHH
    RWKHUSHRSOH
     :KHQWKHWZRPLQXWHVDUHXSFROOHFWWKHTXL]]HV
    DQGUHYLHZWKHDQVZHUV

    5IF$POOFDUJPO2VFTUJPOT
     'LG\RXDWWDLQWKHGHVLUHGUHVXOWV"
     +RZGLG\RXDWWDLQWKHGHVLUHGUHVXOWV"
      $QVZHUVVKRXOGLQFOXGH%\ZRUNLQJZLWKRWKHU
    SHRSOH
     'LGDQ\RQHZRUNRQWKHTXL]DORQH":K\RUZK\
    QRW"
     :KDWZDVWKHEHQHILWWRKDYLQJWKUHHEUDLQV
    ZRUNLQJWRJHWKHU"

    2VJDL3FGFSFODF

    3FMBUJPOTIJQT

    D <RXPD\XWLOL]HDQ\UHVRXUFHLQWKHFODVVURRP

    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
    
    'LVFXVVLQJWKHLPSRUWDQFH
    RIEXLOGLQJFRPPXQLW\
    UHODWLRQVKLSV
    
    %HIRUHDVSRQVRUVKLSGULYH
    
    )LQGLQJFRPPXQLW\PHPEHUV
    WRKHOSZLWK6$(V
    6XSSOLHV
    
    5HODWLRQVKLSV$6RQHFRS\
    SHUSDUWLFLSDQW

     ,QZKDWRWKHUVLWXDWLRQVLQRXUOLYHVPXVWZHUHO\
    RQVRPHRQHHOVH"

    

    'PDVT"SFB3FMBUJPOTIJQT-FBO0O.F

    8SBQVQ
    6XFFHVVIXOO\DFFRPSOLVKLQJWKLVWDVNUHTXLUHGDUHODWLRQVKLSZLWK\RXUSDUWQHUVMXVWOLNH
    PDQ\DFWLYLWLHVLQOLIHZHUHO\RQUHODWLRQVKLSVIRUVXVWHQDQFHDQGJURZWK5HODWLRQVKLSVDUH
    EXLOWRQKRQHVW\WUXVWDQGUHVSHFW*RRGOHDGHUVVXUURXQGWKHPVHOYHVZLWKJRRGSHRSOH
    $Q\RQHSHUVRQGRHVQRWKDYHWKHFRUQHURQWKHPDUNHWRIJRRGLGHDV:KHQSHRSOHJURZ
    DQGLPSURYHWKHRUJDQL]DWLRQJURZVDQGLPSURYHV6RPHWLPHVLWLVQRWZKDW\RXNQRZWKDW
    FRXQWVEXWZKRP\RXNQRZ

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    %5HODWLRQVKLSV
    
    %,QWHUDFWDQGZRUNZLWKRWKHUV
    +6RFLDO*URZWK
    
    +'HYHORSPDLQWDLQDQGJURZKHDOWK\UHODWLRQVKLSV

    0RGDOLWLHV

    3FMBUJPOTIJQT
    

     
    9LVXDO
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO

    -,&YUFOTJPO
    $+65HVXOWVZLWKRXW-HRSDUGL]LQJ5HODWLRQVKLSV

    -JTUFO-FBE-FBSO

    'PDVT"SFB3FMBUJPOTIJQT-FBO0O.F
    -JTUFO-FBE-FBSO

    3FMBUJPOTIJQT"4

    
    1DPHBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

      8IPXBTUIFUI1SFTJEFOUPGUIF6OJUFE4UBUFT
      /BNFUIF B
    MBOEHSBOUJOTUJUVUJPOJOZPVSTUBUF
      8IBUJTUIFNBJEFOOBNFPGUIFNPUIFSPGPOFPGZPVSDMBTTNBUFT
      8IBUJTBDBSFFSJOUIFmFMEPGGPPETDJFODF

      8IBUJTUIFOBNFPGPOFPGUIFOBUJPOBM''"PGmDFST
      )PXNBOZQPVOETBSFDPOUBJOFEJOBOPSNBMCVTIFMPGDPSO 
      8IBUJTUIF''"KBDLFUNBEFPG
      8IBUJTPOFNBKPSBHSJDVMUVSBMBEWBODFNFOUJOUIFUIDFOUVSZ

    3FMBUJPOTIJQT

      8IBUJTUIFGBWPSJUFNVTJDJBOPSCBOEPGBQFSTPOOFYUUPZPV

     0VUTJEFPGUIF64 XIFSFIBTZPVSQBSUOFSUSBWFMFE


     8IBUEPFT64%"TUBOEGPS 
     (FUUIFTJHOBUVSFPGZPVSQBSUOFS T
    
    #POVT
    /BNFBNPWJFUIBUIBTBOBHSJDVMUVSBMUIFNF

    

    'PDVT"SFB3FMBUJPOTIJQT-FBO0O.F

    3FMBUJPOTIJQT
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB3FMBUJPOTIJQT#BSUFSJOH#BTJDT
    -JTUFO-FBE-FBSO

    #BSUFSJOH#BTJDT
    %FTDSJQUJPO
    ,QLWLDWLQJDQGVXVWDLQLQJUHODWLRQVKLSVFDQKHOSXV
    LQDOOSDUWVRIRXUOLYHV,QWKLVDFWLYLW\HDFKVWXGHQW
    QHHGVDSURGXFWRUVHUYLFHDQGPXVWILQGVRPHRQHLQ
    WKHFODVVZKRFDQKHOSQHJRWLDWLQJ

    %JSFDUJPOT

     7U\GLYLGLQJWKHJURXSE\ELUWKGD\V$VNWKH
    SDUWLFLSDQWVZLWKELUWKGD\VLQWKHPRQWKVRI
    -DQXDU\WR-XQHWRUDLVHWKHLUULJKWKDQGDQG
    SDUWLFLSDQWVZLWKELUWKGD\VLQ-XO\WKURXJK
    'HFHPEHUUDLVHWKHLUOHIWKDQG0DNHVXUHLWLV
    FORVHWRHYHQ
     $VNWKRVHZLWKWKHLUOHIWKDQGLQWKHDLUWRPRYH
    WRWKHOHIWVLGHRIWKHURRPDQGWKRVHZLWKWKHLU
    ULJKWKDQGLQWKHDLUWRPRYHWRWKHULJKWVLGHRI
    WKHURRP
     *LYHHDFKSDUWLFLSDQWRQHVFHQDULRVWDWHPHQWWU\
    WRKDYHDSDUWLFLSDQWRQWKHULJKWVLGHPDWFKHG
    ZLWKRQHRQWKHOHIW
     7HOOWKHSDUWLFLSDQWVWRILQGWKHSHUVRQWKDWKDV
    ZKDWWKH\QHHGWREHFRPSOHWHEDVHGXSRQ
    WKHLQIRUPDWLRQRQWKHFDUG )RUH[DPSOHWKH
    VLWXDWLRQRQFDUG$LVDSHUVRQZKRLVEHLQJ
    UHORFDWHGWRDQRWKHUVWDWHDQGFDUG%LVVRPHRQH
    ZLWKDPRYLQJFRPSDQ\7KHREMHFWLVIRUHDFK
    VWXGHQWWRILQGDPDWFKVRWKDWHDFKVLGHFDQ
    DFKLHYHZKDWWKH\QHHGHG
     'XULQJWKLVDFWLYLW\WKHSDUWLFLSDQWVDUHQHYHUWR
    GLUHFWO\VD\ZKDWLVRQWKHLUFDUGEXWUDWKHUDOOXGH
    WRLWLQGLIIHUHQWWHUPVWRILQGWKHLUPDWFK
     *LYHWKHSDUWLFLSDQWVWKUHHPLQXWHVWRILQGWKHLU
    SDUWQHU

    2VJDL3FGFSFODF

    3FMBUJPOTIJQT

    3UHSDUDWLRQ&UHDWHLQGH[FDUGVZLWKVFHQDULR
    VWDWHPHQWV<RXZLOOILQGVWDWHPHQWVRQ
    5HODWLRQVKLSV$6SULQWLWFXWRXWVWDWHPHQWVDQG
    WDSHRUJOXHRQHVWDWHPHQWWRHDFKFDUG

    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
    
    0DUNHWLQJ&'(7HDP
    
    &ODVVURRP
    
    &RPPXQLW\3DUWQHUVKLSV
    6XSSOLHV
    
    ,QGH[FDUGVZLWKQHHGV
    VFHQDULRV

     $IWHUWKUHHPLQXWHVKDYHWKHSDUWQHUVILQGDVHDW
    DQGGLVFXVVWKHEHQHILWVRIEXLOGLQJWKHUHODWLRQVKLSZHMXVWGLVFRYHUHG

    

    'PDVT"SFB3FMBUJPOTIJQT#BSUFSJOH#BTJDT

    5IF$POOFDUJPO2VFTUJPOT
     7HOOXVWKHVLWXDWLRQRQ\RXUFDUGDQGZKRP\RXVHOHFWHGWRVROYHWKHSUREOHP
     :K\GLG\RXVHOHFWWKDWSHUVRQ"
     +RZHOVHFRXOG\RXUQHHGEHPHWRWKHUWKDQZLWKWKHSDUWQHU\RXIRXQG"
    D %UDLQVWRUPDQGGLVFXVVLGHDV
     :KDWRWKHUVLWXDWLRQVFDQ\RXWKLQNRIZKHUH\RXKDYHQHHGHGVRPHRQHWRKHOS"7HOOXV
    DERXW\RXUVLWXDWLRQ
     +RZGRHVWKHDELOLW\WREXLOGUHODWLRQVKLSVDIIHFWRXUGD\WRGD\OLYHV"

    8SBQVQ
    )URPWKLVTXLFNDFWLYLW\ZHVHHEHQHILWVRIEDUWHULQJRXUDELOLWLHVRUUHVRXUFHVWR
    PHHWDJRDO0DNLQJDQGVXVWDLQLQJUHODWLRQVKLSVLVNH\WRVXFFHVVLQRXUSHUVRQDODQG
    SURIHVVLRQDOOLYHV$OVRWKURXJKWKLVDFWLYLW\ZHIRXQGRQHVROXWLRQEXWDOVRIRXQGWKURXJK
    EUDLQVWRUPLQJWKHUHFDQEHPDQ\SDWKVRUVROXWLRQVWRUHDFKRQHQHHG

    3FMBUJPOTIJQT

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    %5HODWLRQVKLSV
     
    %,QWHUDFWDQGZRUNZLWKRWKHUV
     
    %(OLPLQDWHEDUULHUVLQEXLOGLQJUHODWLRQVKLSV
    &9LVLRQ
     
    &$GDSWWRRSSRUWXQLWLHVDQGREVWDFOHV
    0RGDOLWLHV
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO
     
    ,QWUDSHUVRQDO

    -,&YUFOTJPO
    +67KH,PSRUWDQFHRI%XLOGLQJ5HODWLRQVKLSV

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB3FMBUJPOTIJQT#BSUFSJOH#BTJDT
    -JTUFO-FBE-FBSO

    3FMBUJPOTIJQT"4

    #BSUFSJOH4DFOBSJPT
    :PVPXOBNPWJOHUSVDL
    :PVBSFNPWJOHUPBOFXTUBUFBOEOFFETPNFPOFUPIFMQXJUIUIFNPWF
    :PVMPWFWBDBUJPOJOHJO"TQFO $PMPSBEP XIFSFUIFSFBSFTLJSFTPSUTFWFSZXIFSF
    1SPCMFNJT ZPVEPOULOPXIPXUPTLJ
    :PVBSFBTLJJOTUSVDUPSXIPJTKVTUTUBSUJOHBCVTJOFTT:PVOFFEDMJFOUT
    :PVBSFBIJHITDIPPMKBOJUPSXIPIBTUIFLFZUPUIFQPQNBDIJOF

    :PVIBWFTPNFXPOEFSGVMEFTTFSUTUPTIBSF CVUOPNFBMUPHPXJUIUIFN
    :PVmYFEBIVHFNFBM CVUIBWFOPEFTTFSU
    :PVIBWFBOBXFTPNFDBS0OMZPOFQSPCMFNZPVIBWFOPMJDFOTF
    :PVIBWFBESJWFSTMJDFOTF CVUZPVOFFEBDBS
    :PVMPTUZPVSEPH

    3FMBUJPOTIJQT

    :PVBSFBUBMBUFCBTLFUCBMMQSBDUJDFBOEOFFETPNFQPQ CVUUIFNBDIJOFJTMPDLFE

    :PVGPVOEBEPH
    :PVBSFUSBWFMJOHUP'SBODF CVUZPVEPOPULOPXUIFMBOHVBHF
    :PVBSFBIJHITDIPPM'SFODIUFBDIFS
    :PVSDBSJTCSPLFOEPXO
    :PVSFDFJWFEBOi"wJO"VUP5FDIOPMPHZ
    :PVGPSHPUZPVSTXFBUTIJSUGPSHZNDMBTT
    :PVIBWFBADMPTFUJOZPVSMPDLFS:PVBSFLOPXOUPIBWFFYUSB5TIJSUTBOETXFBUTIJSUT
    :PVBSFBOFXTUVEFOUJOTDIPPM
    :PVBSFBIJHITDIPPMHVJEBODFDPVOTFMPSXIPIFMQTUSBOTGFSTUVEFOUT
    

    'PDVT"SFB3FMBUJPOTIJQT#BSUFSJOH#BTJDT

    3FMBUJPOTIJQT
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB3FMBUJPOTIJQT8IBUJT$JWJD-FBEFSTIJQ
    -JTUFO-FBE-FBSO

    8IBUJT$JWJD
    -FBEFSTIJQ
    %FTDSJQUJPO
    $OORZWKHVWXGHQWVWRIHHORZQHUVKLSRIWKHLU
    GHILQLWLRQRIFLYLFOHDGHUWKURXJKWKLVKDQGVRQ
    UHVHDUFKLQJDFWLYLW\
    7KLVWKRXJKWSURYRNLQJH[HUFLVHZLOOKHOSVWXGHQWV
    WRFRQWHPSODWHWKHGHILQLWLRQDQGQHHGIRUFLYLF
    OHDGHUVKLS

    %JSFDUJPOT
     3DVVRXWDEODQNSLHFHRISDSHUWRHDFKVWXGHQW
     7HOOHDFKVWXGHQWWRGLYLGHWKHSLHFHRISDSHULQWR
    IRXUTXDGUDQWVE\GUDZLQJDOLQHGRZQWKHFHQWHU
    KRUL]RQWDOO\DQGYHUWLFDOO\
     ,QVWUXFWWKHVWXGHQWVWRODEHOHDFKTXDGUDQWZLWK
    WKHZRUGV
     4XDGUDQW&LYLF
     4XDGUDQW/HDGHUVKLS

    2VJDL3FGFSFODF

     4XDGUDQW&LYLF/HDGHUVKLS

    7LPHPLQ

     4XDGUDQW([DPSOHV

    1XPEHURI6WXGHQWV 

     'LYLGHLQWRSDLUV

    8VHIXOQHVV

     8VLQJDGLFWLRQDU\RUWKH,QWHUQHWLQVWUXFWHDFK
    SDLUWRILQGWKHGHILQLWLRQVIRUERWKFLYLFDQG
    OHDGHUVKLS

    
    &ODVVURRP
    
    %HIRUHDVHUYLFHOHDUQLQJ
    DFWLYLW\
    
    %HIRUHDSURMHFWZLWK
    FRPPXQLW\LQYROYHPHQW

     &DSWXUHWKHVHGHILQLWLRQVLQWKHDSSURSULDWH
    TXDGUDQW
     &RPELQHWKHWZRGHILQLWLRQVWRFUHDWHDQHZ
    GHILQLWLRQIRUFLYLFOHDGHUVKLS
     /DVWO\ZLWKWKHUHPDLQLQJTXDGUDQWDVNVWXGHQWV
    WROLVWWKHQDPHVRISHRSOHZKRILWWKHGHILQLWLRQ
    RIFLYLFOHDGHUDQGH[SODLQKRZRUZK\WKDWSHUVRQ
    ZDVFKRVHQ

    3FMBUJPOTIJQT

    (DFKVWXGHQWZLOOQHHGDSLHFHRIEODQNSDSHUDQG
    FRORUIXOZULWLQJXWHQVLOV

    6XSSOLHV
    
    'LFWLRQDU\RU,QWHUQHWDFFHVV
    
    &RORUIXOZULWLQJXWHQVLOV

     $IWHUDERXWPLQXWHVRUZKHQVWXGHQWVDUHILQLVKHGEULQJWKHJURXSEDFNWRJHWKHU
    DQGVKDUHGHILQLWLRQVDQGH[DPSOHVFROOHFWLYHO\
     6RPHH[DPSOHVPLJKWLQFOXGHWUXVWZRUWK\KDUGZRUNLQJVHUYLQJGRQDWLQJPRQH\
    JRRGPRUDOVDQGYDOXHVHWF

    

    'PDVT"SFB3FMBUJPOTIJQT8IBUJT$JWJD-FBEFSTIJQ

    5IF$POOFDUJPO2VFTUJPOT
     :HOLVWHGVRPHSHRSOHZHFRQVLGHUHGWREHFLYLFOHDGHUV:KDWFKDUDFWHULVWLFVGRWKH\
    KDYH"
     :KRDUHWKHSHRSOHZHKDYHOLVWHGDQGZK\RUKRZGRWKH\ILWWKHGHILQLWLRQ"
     +RZFDQHDFKRIXVSHUVRQDOO\EHFRPHDFLYLFOHDGHU"

    8SBQVQ
    :KHQZHXVHWKHZRUGFLYLFZHDUHWDONLQJDERXWRXUFRPPXQLW\7KLVLQFOXGHVDQ\ZKHUH
    IURPRXUORFDOWRZQWRRXUVWDWHDQGRXUFRXQWU\/HDGHUVKLSUHIHUVWRLQIOXHQFLQJDQGWKH
    DELOLW\WRREWDLQIROORZHUV7KHUHIRUHFLYLFOHDGHUVKLSLQYROYHVSHRSOHZKRPDNHDSRVLWLYH
    LQIOXHQFHLQRXUFRPPXQLWLHV+RZPDQ\RI\RXZLOOWDNHRQWKHFKDOOHQJHRIEHFRPLQJD
    FLYLFOHDGHUWRGD\"

    3FTFBSDI.FUIPEPMPHJFT

    3FMBUJPOTIJQT

    3UHFHSW
    ($ZDUHQHVV
     
    ($GGUHVVLVVXHVLPSRUWDQWWRWKHFRPPXQLW\
    )&RQWLQXRXV,PSURYHPHQW
     
    )$FTXLUHQHZNQRZOHGJH
    0RGDOLWLHV
     
    9LVXDO
    0XOWLSOH,QWHOOLJHQFHV
     
    /LQJXLVWLF
     
    ,QWHUSHUVRQDO
     
    ,QWUDSHUVRQDO

    -,&YUFOTJPO
    +6,QYROYHPHQWLQ3XEOLF6HUYLFH

    

    -JTUFO-FBE-FBSO

    1SPCMFN4PMWJOH
    t 1SPCMFN4PMWJOH4USBUFHJFT
    t 5FOOJT#BMM
    t #PHHMJOH#SBJOTUPSNJOH
    t %SJWJOH%JSFDUJPOT
    t )JEEFO1JSBUF.BQ
    t 1ZSBNJEPG5FBNXPSL
    t 5SJQ1MBOOJOH

    'PDVT"SFB1SPCMFN4PMWJOH

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB1SPCMFN4PMWJOH5BML*U0VU
    -JTUFO-FBE-FBSO

    5BMLJUPVU
    %FTDSJQUJPO
    7KLVDFWLYLW\ZLOOWUDLQSDUWLFLSDQWVWRYHUEDOL]H
    WKHLUSUREOHPVROYLQJVWUDWHJLHV0DQ\WLPHVZKHQ
    WKHUHLVDSUREOHPLQOLIHZHPD\ILJXUHRXWDJUHDW
    VROXWLRQEXWLWLVLPSRUWDQWQRWRQO\WRILJXUHLWRXW
    IRURXUVHOYHVWKURXJKGLIIHUHQWVWUDWHJLHVEXWDOVRWR
    H[SODLQRXUVHOYHVYHUEDOO\

    %JSFDUJPOT
     +DYHVWXGHQWVSDUWQHUXS/LQHWKHPXSIURP
    \RXQJHVWWRROGHVWDQGSDLUWKHPRIIZKLOH
    WKH\UHVWDQGLQJLQDOLQH
     $VNRQHSHUVRQIURPHDFKSDUWQHUJURXSWRUDLVH
    KLVRUKHUKDQG

     $V\RXDSSURDFKWKHSUREOHPH[SODLQHYHU\WKLQJ
    JRLQJRQLQ\RXUKHDG,WPLJKWVRXQGVRPHWKLQJ
    OLNH2.,KDYHUHDGWKHSUREOHPDQGDP
    WKLQNLQJWKDWWKHLVVXHLVDQGWKHUHFRXOGEH
    IRXUZD\VWRVROYHWKLVSUREOHP%DVHGRQP\
    H[SHULHQFHZLWK,WKLQNLVWKHEHVWRSWLRQ,P
    JRLQJWRWU\WKDWILUVWWKRXJKEHIRUHPDNLQJD
    ILQDOGHFLVLRQ
     7KHSDUWQHUZKRGLGQRWUDLVHKLVRUKHUKDQGZLOO
    EHWKHQRWHWDNHU7KHQRWHWDNHUZLOOUHSRUWRQWKH
    DSSURDFKXVHGWRVROYHWKHSUREOHP
     )LYHPLQXWHVWRVROYHWKHSUREOHP
     :KDWTXHVWLRQVGR\RXKDYH"
    

    *LYHHDFKVWXGHQWDFRS\RIWKHSUREOHPRQ
    5HODWLRQVKLSV$62QHVWXGHQWZLOOQHHGLWDVD
    UHIHUHQFHWRVROYHDQGWKHRWKHUSDUWQHUZLOOQHHG
    LWDVDVKHHWWRVFULEHRQKRZKLVRUKHUSDUWQHU
    VROYHGLW*LYHWKHPILYHPLQXWHVWRZRUNWKURXJK
    WKHSUREOHP

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    7REHJLQDSUREOHPVROYLQJRU
    JURXSSODQQLQJDFWLYLW\
     
    5HWUHDW
     
    *URXSZRUN

    1SPCMFN4PMWJOH

     ,I\RXUKDQGLVUDLVHG\RXZLOOEHWKHSUREOHP
    VROYHU

    6XSSOLHV
     
    5HODWLRQVKLSV$6RQHSHU
    JURXS

     &DOORQHDFKJURXSWRJLYHXVDEULHIVXPPDU\RI
    KRZKLVRUKHUSDUWQHUVROYHGWKHSUREOHP
     /RRNIRUGLIIHUHQWDSSURDFKHVDPRQJWKHSDUWQHUV
    DQGZULWHWKHPRQDSXEOLFZULWLQJVXUIDFH

    

    'PDVT"SFB1SPCMFN4PMWJOH5BML*U0VU

    5IF$POOFDUJPO2VFTUJPOT
     )RUWKRVHRI\RXZKRZHUHDSUREOHPVROYHU:KDWPDGHLWGLIILFXOWWRH[SUHVV\RXUVHOI
    DQGOHW\RXUSDUWQHUNQRZH[DFWO\ZKDW\RXZHUHWKLQNLQJ"
     )RUWKHQRWHWDNHUV&RXOG\RXIROORZZKDW\RXUSDUWQHUZDVH[SODLQLQJ"
     :RXOG\RXKDYHJRQHDERXWSUREOHPVROYLQJLQWKHVDPHZD\RUGLIIHUHQW"([SODLQ
     :KDWZHUHWKHGLIIHUHQWZD\VSDUWLFLSDQWVZHQWDERXWILQGLQJWKHVDPHDQVZHU"

    8SBQVQ
    $VZHKDYHDOOVHHQHYHU\RQHWRRNDOLWWOHELWRIDGLIIHUHQWDSSURDFKWRVROYLQJWKLV
    SUREOHP0RVWHQGHGZLWKWKHFRUUHFWDQVZHUEXWDOOZHUHJRRGDWWHPSWV,WLVLPSRUWDQWWR
    EHDEOHWRYHUEDOL]HRXUVROXWLRQVDQGEHUHVSHFWIXORIWKHPDQ\GLIIHUHQWZD\VRQHFDQILQG
    DQDQVZHU%HFUHDWLYH

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
     -0HQWDO*URZWK
     
    -7KLQN&ULWLFDOO\
     
    -6ROYH3UREOHPV

    1SPCMFN4PMWJOH
    

    0RGDOLWLHV
     
    9LVXDO
     
    $XGLWRU\
    0XOWLSOH,QWHOOLJHQFHV
     
    /LQJXLVWLF
     
    /RJLFDO0DWKHPDWLFDO

    -,&YUFOTJPO
    +66HOHFWLQJD6WUDWHJ\

    -JTUFO-FBE-FBSO

    'PDVT"SFB1SPCMFN4PMWJOH5BML*U0VU
    -JTUFO-FBE-FBSO

    3FMBUJPOTIJQT"4

    5BML*U0VU"DUJWJUZTIFFU

    1SPCMFN4PMWJOH

    $QHDUWKZRUPLVIHHWEHORZWKHVXUIDFHRIWKHHDUWK(DFKHYHQLQJWKHHDUWKZRUP
    PRYHVIRXUIHHWWRZDUGWKHVXUIDFHRIWKHJURXQG(DFKDIWHUQRRQWKHHDUWKZRUPUHWUHDWV
    WKUHHIHHWLQWRWKHEXUURZLWMXVWGXJ+RZPDQ\GD\VZLOOLWWDNHIRUWKHHDUWKZRUPWRUHDFK
    WKHVXUIDFHRIWKHHDUWK"

    $QVZHUGD\V

    

    'PDVT"SFB1SPCMFN4PMWJOH5BML*U0VU

    1SPCMFN4PMWJOH
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB1SPCMFN4PMWJOH5FOOJT#BMM$PMMBCPSBUJPO
    -JTUFO-FBE-FBSO

    5FOOJT#BMM
    $PMMBCPSBUJPO
    %FTDSJQUJPO
    'XULQJWKLVDFWLYLW\WKHSDUWLFLSDQWVZLOOKDYHDQ
    RSSRUWXQLW\WRVROYHDVLPSOHSUREOHP(YHU\RQH
    PXVWSXWWKHLUKHDGVWRJHWKHU$VWKHFKDOOHQJH
    LQFUHDVHVWKHLUFUHDWLYLW\DQGLQWXLWLYHQHVVPXVW
    LQFUHDVH6HHKRZTXLFNO\WKH\FDQJHWWKHHQWLUH
    JURXSWRFRPSOHWHWKHWDVN

    %JSFDUJPOT
     $VVHPEOHWKHJURXSLQDFLUFOH

     7KHODVWSHUVRQSDVVHVWKHEDOO V EDFNWRWKH


    RULJLQDWRU
     7KHVDPHRUGHUPXVWEHPDLQWDLQHGWKURXJKRXW
    WKHDFWLYLW\
     3DVVRQHWHQQLVEDOODURXQGWKHFLUFOHDQGWLPH
    WKHJURXS
     &KDOOHQJHWKHWHDPWRDIDVWHUJRDO
     $OORZWKHWHDPWRJHQHUDWHLGHDVRQLPSURYHPHQW
     $GGWKHRWKHUWZREDOOVWRWKHFLUFOHIRUDWRWDORI
    WKUHHWHQQLVEDOOV
     3DVVWKHEDOOVDQGWLPHWKHHYHQW
    &RQWLQXDOO\FKDOOHQJHWKHJURXSWRIDVWHUWLPHV
    DQGEUDLQVWRUPXQWLOWKHIDVWHVWSRVVLEOHLV
    DWWDLQHG

    2VJDL3FGFSFODF
    7LPH PLQ
    1XPEHURI6WXGHQW 
    8VHIXOQHVV
    
    
    
    

    
    &ODVVURRP
    
    5HWUHDW
    
    3UREOHP6ROYLQJ
    
    :KHQDJURXSILUVWIRUPV

    1SPCMFN4PMWJOH

     7KHREMHFWLYHVRIWKLVDFWLYLW\DUHWKUHHIROG
    WRPRYHWKHWHQQLVEDOO V DURXQGWKHFLUFOH
    DVTXLFNO\DVSRVVLEOHWRPDNHVXUHHYHU\RQH
    WRXFKHVWKHWHQQLVEDOO V DQGWRFDOOHDFK
    SHUVRQVQDPHDVWKH\DUHSDVVHGWKHEDOO

    6XSSOLHV

    7KUHHWHQQLVEDOOV
    6ROXWLRQ7KHIDVWHVWPHDQVLVIRUHYHU\RQHWRFURZG  
    LQWRJHWKHUDQGKROGWKHLUKDQGVRXW2QHSHUVRQ
    PRYHVWRWKHPLGGOHRIWKHFLUFOHKROGLQJWKHEDOOV
    $VKHVKHVSLQVDURXQGHYHU\RQHWRXFKHVWKHEDOOVDQGFDOOVWKHQDPHRIWKHSHUVRQ
    QH[WWRWKHP7KLVVKRXOGWDNHDERXWWKUHHWRIRXUVHFRQGV

    

    'PDVT"SFB1SPCMFN4PMWJOH5FOOJT#BMM$PMMBCPSBUJPO

    5IF$POOFDUJPO2VFTUJPOT
     +RZGLG\RXRULJLQDOO\JHWHYHU\RQHWRWRXFKWKHILUVWEDOO":K\GLGLWWDNHVRORQJWR
    FRPSOHWHWKHWDVN"
     +RZGLG\RXGHFUHDVHWKHWLPHQHHGHG"
     :KDWZRXOGKDSSHQLIMXVWRQHSHUVRQGLGQRWSDUWLFLSDWHLQWKHHIIRUWWREHFRPHTXLFNHU
    DWWKHWDVN"
     ,QZKDWRWKHUVLWXDWLRQVLQ\RXURZQOLIHLVWRWDOSDUWLFLSDWLRQLPSRUWDQWWRFRPSOHWHD
    WDVN"

    8SBQVQ
    *UHDWMRELQDVVHVVLQJWKHJURXSVSHUIRUPDQFHDQGDGMXVWLQJRXUWDFWLFVWRFUHDWH
    LPSURYHPHQW7KLVSURFHVVRIWU\LQJVRPHWKLQJRXWDQGWKHQHYDOXDWLQJWKHSURVDQGFRQV
    ZLOODOZD\VKHOSXVWREHPRUHHIIHFWLYH:HDOVROHDUQHGDQLPSRUWDQWOHVVRQLQJURXSZRUN
    LIZHDUHQRWDOOZLOOLQJWRPDNHWKHEHVWEHWWHURQHQHJDWLYHSDUWLFLSDQWFRXOGSRWHQWLDOO\
    VWRSHYHU\RQHIURPVXFFHHGLQJ

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW

    1SPCMFN4PMWJOH

    
    
    
    
    

    2)OH[LELOLW\$GDSWDELOLW\
    
    25HDFWVZLWKRSHQQHVVWRIHHGEDFNDQGSURIHVVLRQDOJURZWKRSSRUWXQLWLHV
    
    2([SHULPHQWVDQGWDNHVULVNV
    1'HFLVLRQ0DNLQJ
    
    1'HPRQVWUDWHSUREOHPVROYLQJVNLOOV

    0RGDOLWLHV
     
    9LVXDO
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    ,QWHUSHUVRQDO
     
    %RGLO\.LQHVWKHWLF

    -,&YUFOTJPO
    +66NLOOVIRU&RQVHQVXV%XLOGLQJ

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB1SPCMFN4PMWJOH#PHHMJOH#SBJOTUPSNJOH
    -JTUFO-FBE-FBSO

    #PHHMJOH
    #SBJOTUPSNJOH
    %FTDSJQUJPO
    %UDLQVWRUPLQJLVDFUXFLDOSDUWRISODQQLQJFRPLQJ
    XSZLWKFUHDWLYHDQGQHZLGHDV7U\WKLVDFWLYLW\WR
    KHOS\RXUVWXGHQWVJHWWKHZKHHOVWXUQLQJRQWKH
    EDVLFVRIEUDLQVWRUPLQJ

    %JSFDUJPOT
    3UHSDUDWLRQ3XWVPDOOREMHFWVLQILYHEODFNILOP
    FDQLVWHUVRUFRQWDLQHUVZHDUHXQDEOHWRVHH
    WKURXJK2EMHFWVFDQEHDQ\WKLQJVPDOOOLNHD
    PDUNHUFDSFKDONDSDSHUFOLSRUWKHVDPHVPDOO
    REMHFWLQDOOILYHFRQWDLQHUV
     7KHUHDUHILYHEODFNPPILOPFDQLVWHUVKHUH
    HDFKZLWKDVPDOOREMHFWLQVLGH7KHREMHFWPD\
    EHWKHVDPHLQDOOILYHFDQLVWHUVRULWPD\EHILYH
    GLIIHUHQWREMHFWV
     'LVWULEXWHRQHFDQLVWHUWRHDFKJURXS
     ,QVWUXFWWKHVWXGHQWVWRH[DPLQHWKHILOPFDQLVWHU
     7KHFKDOOHQJHLVWRJXHVVZKDWLVLQVLGHRIHDFK
    FDQLVWHUZLWKRXWRSHQLQJLW
     *LYHHDFKJURXSIRXUPLQXWHVWRJXHVVZKDWLVLQ
    WKHFDQLVWHU
     $IWHUIRXUPLQXWHVDOORZHDFKJURXSWRGHVFULEH
    WKHLUJXHVVLQJSURFHVVDQGJLYHDILQDODQVZHUWR
    ZKDWWKH\EHOLHYHLVLQWKHFDQLVWHU

    5IF$POOFDUJPO2VFTUJPOT
     :KDWGLG\RXUJURXSFRQFOXGHZDVLQWKHFDQLVWHU"
     :K\GLG\RXFKRRVHWKDWREMHFW"
     $WWKHEHJLQQLQJRIWKLVDFWLYLW\\RXZHUHJLYHQ
    DVSHFLILFSUREOHPRIJXHVVLQJZKDWZDVLQVLGH
    WKHEODFNILOPFDQLVWHU:KDWFOXHVGLG\RXXVHWR
    PDNH\RXUGHFLVLRQ"

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    %HIRUHDEUDLQVWRUPLQJVHVVLRQ
     
    7RVWDUWDOHVVRQLQYROYLQJ
    SUREOHPVROYLQJ

    1SPCMFN4PMWJOH

     'LYLGHLQWRILYHJURXSV

    6XSSOLHV
     
    )LYHFDQLVWHUVFRQWDLQHUV\RX
    FDQQRWVHHLQWR
     
    )LYHLWHPVWKDWILWLQWRWKH
    FDQLVWHUV

     2QHRIRXUEHVWDVVHWVLVLPDJLQDWLRQZK\LVWKLVLPSRUWDQWWRXVHZKLOHEUDLQVWRUPLQJ"
     :KLOHEUDLQVWRUPLQJZKDWRWKHUPRGHVRIUHDVRQLQJVKRXOGEHFRQVLGHUHG"

    

    'PDVT"SFB1SPCMFN4PMWJOH5FOOJT#BMM$PMMBCPSBUJPO

    8SBQVQ
    <RXUJURXSVXVHGGLIIHUHQWUHDVRQLQJWDFWLFVVXFKDVVRXQGZHLJKWDQGVPHOOWRPDNH
    DVVXPSWLRQVDERXWZKDWZDVLQVLGHWKHFDQLVWHU<RXUJURXSFDPHXSZLWKVHYHUDOLGHDVDQG
    DIWHUIXUWKHUWHVWLQJ\RXQDUURZHGLWGRZQWRRQHJXHVV7KLVLVFDOOHGGHGXFWLYHUHDVRQLQJ
    7KDQNVIRUEHLQJVXSHUVOHXWKVWRGD\

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    

    )&RQWLQXRXV,PSURYHPHQW
    
    )8VHLQQRYDWLYHSUREOHPVROYLQJVWUDWHJLHV
    -0HQWDO*URZWK
    
    -7KLQN&UHDWLYHO\

    0RGDOLWLHV
     
    9LVXDO
     
    $XGLWRU\
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    /RJLFDO0DWKHPDWLFDO

    1SPCMFN4PMWJOH
    

    -,&YUFOTJPO
    +6%UDLQVWRUPLQJ6ROXWLRQV

    -JTUFO-FBE-FBSO

    'PDVT"SFB1SPCMFN4PMWJOH%FUFSNJOJOH:PVS%FTUJOBUJPO
    -JTUFO-FBE-FBSO

    %FUFSNJOJOHZPVS
    %FTUJOBUJPO
    %FTDSJQUJPO
    7KHTXLFNHVWZD\IURPRQHSRLQWWRDQRWKHULVD
    VWUDLJKWOLQH7KLVSUREOHPVROYLQJDFWLYLW\VKRZVWKH
    VWXGHQWVWKHLPSRUWDQFHRISODQQLQJWKHLURZQURDG
    WRWUDYHOVRWKH\FDQFUHDWHWKHPRVWGLUHFWSDWKWR
    WKHLUJRDOV

    %JSFDUJPOT
     'LYLGHWKHFODVVLQWRJURXSVRIWKUHHRUIRXU
    VWXGHQWV
     <RXUJURXSKDVEHHQDVNHGWRZULWHGLUHFWLRQVIRU
    DQRWKHUJURXSWRJRWRDQXQNQRZQGHVWLQDWLRQLQ
    \RXUVWDWH

     7KHGLUHFWLRQVPXVWLQFOXGHDPLQLPXPRI
    WXUQVPXVWEHDWOHDVWPLOHVDZD\DQGFDQQRW
    XVHLQWHUVWDWHKLJKZD\V
     <RXKDYHPLQXWHVWRSUHSDUHWKHGLUHFWLRQV
     7HOOHDFKJURXSZKHQWKH\KDYHRQHPLQXWHOHIW

    2VJDL3FGFSFODF

     &ROOHFWDOOJURXSVGLUHFWLRQV

    7LPHPLQ

     7KHLQVWUXFWRUUHGLVWULEXWHVWKHVHUDQGRPO\WR
    RWKHUJURXSV

    1XPEHURI6WXGHQWV 

     (DFKJURXSZLOOKDYHDVHWDPRXQWRIWLPHWR
    GHWHUPLQHZKHUHWKHGLUHFWLRQVDUHWDNLQJ\RX
    6WDUWQRZ

     
    5HWUHDW
     
    *RDOVHWWLQJH[HUFLVH

    5IF$POOFDUJPO2VFTUJPOT

    8VHIXOQHVV

    1SPCMFN4PMWJOH

     <RXUJURXSZLOOGHWHUPLQHWKHGHVWLQDWLRQEXW
    FDQQRWLQFOXGHLWLQDQ\RIWKHGLUHFWLRQV

    6XSSOLHV
     
    0DSVRU&RPSXWHUDFFHVV

     :DVWKDWIUXVWUDWLQJ"
     'LG\RXOLNHOHWWLQJVRPHRQHGHWHUPLQHZKHUH\RXKDGWRJR"
     +RZZRXOG\RXOLNHWREHJLQDWULSZLWKRXWNQRZLQJZKHUH\RXDUHJRLQJ"
     +RZZRXOG\RXOLNHOHWWLQJVRPHRQHHOVHGHWHUPLQH\RXUGLUHFWLRQDQG\RXUGHVWLQDWLRQ"
     :RXOG\RXKDYHIRXQGDQHDVLHUZD\WRJHWWR\RXUGHVWLQDWLRQ"

    

    'PDVT"SFB1SPCMFN4PMWJOH%FUFSNJOJOH:PVS%FTUJOBUJPO

    8SBQVQ
    $OORIWKRVHWXUQVZLWKVRPHXQIDPLOLDUWXUQVUHDOO\PDGHWKHGLUHFWLRQVKDUGWRIROORZ
    ,VLWSRVVLEOHWRIHHOWKDWZD\DVZHWUXGJHRXUSDWKLQOLIH"7KLVDFWLYLW\VKRZHGXVWKH
    LPSRUWDQFHRIFUHDWLQJRXURZQSODQLQRXUSHUVRQDODQGSURIHVVLRQDOOLYHVVRRXUOLNHOLKRRG
    RIKLWWLQJGHDGHQGVGLPLQLVKHVDQGRXUVXFFHVVUDWHIORXULVKHV

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
     
    9LVLRQ
    0RGDOLWLHV
     
    9LVXDO
    0XOWLSOH,QWHOOLJHQFHV
     
    6SDWLDO
     
    /RJLFDO0DWKHPDWLFDO

    -,&YUFOTJPO
    +67DNLQJ0\7ULS XQGHUVWDQGLQJ6$(V

    1SPCMFN4PMWJOH
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB1SPCMFN4PMWJOH)JEEFO1JSBUF.BQ
    -JTUFO-FBE-FBSO

    )JEEFO1JSBUF.BQ
    %FTDSJQUJPO
    7KH+LGGHQ3LUDWH0DSDFWLYLW\LVGHVLJQHGWRKDYH
    VWXGHQWVZRUNWRJHWKHUDVWKH\WU\WRGLVFRYHUWKH
    FRUUHFWSDWKLQWKHPD]H$ORQJWKHZD\WKHWHDP
    ZLOOEHUHZDUGHGZLWK*2DVWKH\GLVFRYHUWKH
    FRUUHFWVHTXHQFHIRUWKHSDWKZKLOHRWKHUWLPHVWKH\
    ZLOOEH%((3('DQGKDYHWRVWDUWRYHUDVWKH\KLWD
    URDGEORFN7KLVDFWLYLW\LVDQH[FHOOHQWWRROWRJHW
    VWXGHQWVZRUNLQJWRJHWKHUDVDWHDP2QFHWKHSDWK
    LVGLVFRYHUHGHYHU\WHDPPHPEHUPXVWFRPSOHWH
    WKHSDWKE\ZRUNLQJWRJHWKHU

    %JSFDUJPOT
    *RDO*HWDOOPHPEHUVRI\RXUWHDPVXFFHVVIXOO\
    WKURXJKWKHPD]HE\GLVFRYHULQJWKHSDWK
     (YHU\RQHRQWKHWHDPZLOOSDUWLFLSDWHE\URWDWLQJ
    WXUQVWRQDYLJDWHWKURXJKWKHPD]H
     1RRQHLVDOORZHGWRWRXFKWKHPD]HVXUIDFH
    XQOHVVWUDYHOLQJWKHSDWKRIWKHPD]H
     7KHSDWKLVFUHDWHGE\VWHSSLQJRQDGMDFHQW
    VTXDUHV
     $FKRLFHLVVLJQDOHGE\ERWKIHHWEHLQJSODFHGLQ
    WKHVTXDUH
     $0D]H0DVWHUZLOOPRQLWRUWKHSDWKDV\RXZDON
    WKURXJKWKHPD]H7KHUHDUHWZRVLJQDOV\RXZLOO
    KHDUIURPWKH0D]H0DVWHU
    D *2PHDQV\RXPD\FRQWLQXHWUDYHOLQJ
    WKURXJKWKHPD]HEHFDXVH\RXIRXQGWKH
    FRUUHFWSDWK
    E %((3PHDQV\RXPXVWH[LWWKHPD]HE\
    UHWUDFLQJ\RXUVWHSVEHFDXVH\RXVWHSSHGRQDQ
    LQFRUUHFWER[
     1RPDUNLQJRIWKHSDWKRUUHFRUGLQJWKH
    VXFFHVVLRQRIVTXDUHVLVDOORZHG
     2QFH\RXYHGLVFRYHUHGWKHSDWKWUDYHOLQWULRV
    DORQJWKHSDWK
     7KLVLVDWLPHGHYHQW
    <RXKDYHWKUHHPLQXWHVWRVWUDWHJL]HZLWK\RXU
    WHDP

    2VJDL3FGFSFODF
    7LPHPLQ
    1XPEHURI6WXGHQWV 
    8VHIXOQHVV
     
    &ODVVURRP
     
    5HWUHDW
     
    2IILFHU5HWUHDW

    1SPCMFN4PMWJOH

     2QO\RQHSHUVRQLVDOORZHGRQWKHPD]HDWDWLPH

    6XSSOLHV
     
    $JULGWKDWLVER[HVZLGH
    DQGER[HVORQJIRUHYHU\
    VWXGHQWV
     6XJJHVWLRQVIRUFUHDWLQJJULGV
      &UHDWHDJULGRQDWDUSZLWK
    GXFWWDSH
      &UHDWHDJULGRQWKHIORRUZLWK
    PDVNLQJRUSDLQWHUVWDSH
      &UHDWHDJULGRQFRQFUHWHXVLQJ
    FKDON

    7KHJDPHEHJLQVZLWKWKHVLJQDO<RXPD\EHJLQ

    

    'PDVT"SFB1SPCMFN4PMWJOH)JEEFO1JSBUF.BQ

    5IF$POOFDUJPO2VFTUJPOT
     :KDWW\SHRISUREOHPVROYLQJGLGWKLVDFWLYLW\UHSUHVHQW"
     'LGLWWDNHORQJHUIRUWKHILUVWYROXQWHHUWRPDNHLWDFURVVWKHPDS":K\"
     :KDWFRXOGWKRVHZKRIROORZHGGRWRJHWDFURVVWKHPDSHDVLHU"
     :K\GRHVWKLVDFWLYLW\UHIOHFWOLIHVFKRLFHV"
     :KDWKDSSHQHG":KDWGLG\RXH[SHULHQFH"
    D :KDWZDVLWOLNHWRKHDU*2"
    E :KDWZDVLWOLNHWRKHDU%((3"
     :KDWGLG\RXOHDUQ"
    

    5HVSRQVH )DLOXUHLVRQO\IHHGEDFNLQWHUGHSHQGHQFH

     +RZFDQ\RXDSSO\WKLVWR"
    D 3OD\LQJDVDWHDP
    E 7KHDFWLYLW\ZHDUHZRUNLQJRQ

    8SBQVQ
    1SPCMFN4PMWJOH

    *UHDWMREGLVFRYHULQJWKHSDWKDORQJWKHKLGGHQSLUDWHPDS'XULQJWKLVDFWLYLW\ZHOHDUQHG
    WRZRUNDVDWHDPDQGKRZLPSRUWDQWIHHGEDFNLVLQDFFRPSOLVKLQJDWHDPJRDO7HDPZRUN
    LQFOXGHVSD\LQJDWWHQWLRQWRRWKHUVVXFFHVVHVDQGIDLOXUHVVRWKDWZHPD\OHDUQDQGJURZ
    IURPRWKHUVH[SHULHQFHV

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    
    

    $$FWLRQ
    
    $&RPPXQLFDWLRQHIIHFWLYHO\ZLWKRWKHUV
    
    $(YDOXDWHDQGUHIOHFWRQDFWLRQVWDNHQDQGPDNHDSSURSULDWHPRGLILFDWLRQV
    1'HFLVLRQ0DNLQJ
    
    1'HPRQVWUDWHWKHGHFLVLRQPDNLQJSURFHVV

    0RGDOLWLHV
     
    9LVXDO
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    6SDWLDO
     
    /RJLFDO0DWKHPDWLFDO

    -,&YUFOTJPO
    $+6(VWDEOLVKLQJ7HDP9LVLRQ

    

    -JTUFO-FBE-FBSO

    (MPTTBSZ%FmOJUJPOT1SFDFQUT"*
    -JTUFO-FBE-FBSO
    13&.*&3-&"%&34)*1
    'HILQLWLRQ/HDGHUVKLSLVLQIOXHQFH
    "o"DUJPO
    " :RUNLQGHSHQGHQWO\DQGLQJURXSVWR
    JHWWKLQJVGRQH
    " )RFXVRQUHVXOWV
    " 3ODQHIIHFWLYHO\
    " ,GHQWLI\DQGXVHUHVRXUFHV
    " &RPPXQLFDWHHIIHFWLYHO\ZLWKRWKHUV
    " 7DNHULVNVWRJHWWKHMREGRQH
    " ,QYHVWLQRWKHUVE\HQDEOLQJDQG
    HPSRZHULQJWKHP
    " (YDOXDWHDQGUHIOHFWRQDFWLRQVWDNHQ
    DQGPDNHDSSURSULDWHPRGLILFDWLRQV
    #o3FMBUJPOTIJQT
    # 3UDFWLFHKXPDQUHODWLRQVVNLOOV
    LQFOXGLQJFRPSDVVLRQHPSDWK\
    XQVHOILVKQHVVWUXVWZRUWKLQHVV
    UHOLDELOLW\DQGOLVWHQLQJ
    # ,QWHUDFWDQGZRUNZLWKRWKHUV

    &o"XBSFOFTT
    & $GGUHVVLVVXHVLPSRUWDQWWRWKH
    FRPPXQLW\
    & 3HUIRUPOHDGHUVKLSWDVNVDVVRFLDWHG
    ZLWKFLWL]HQVKLS
    & 3DUWLFLSDWHLQDFWLYLWLHVWKDWSURPRWH
    DSSUHFLDWLRQRIGLYHUVLW\
    '$POUJOVPVT*NQSPWFNFOU
    ' ,PSOHPHQWDOHDGHUVKLSDQGSHUVRQDO
    JURZWKSODQ
    ' 6HHNPHQWRULQJIURPRWKHUV
    ' 8VHLQQRYDWLYHSUREOHPVROYLQJ
    VWUDWHJLHV
    ' $GDSWWRHPHUJLQJWHFKQRORJLHV
    ' $FTXLUHQHZNQRZOHGJH
    1&340/"-(3085)
    'HILQLWLRQ3HUVRQDOJURZWKLVWKHSRVLWLYH
    HYROXWLRQRIWKHZKROHSHUVRQ
    (1IZTJDBM(SPXUI

    # 'HYHORSRWKHUV
    # (OLPLQDWHEDUULHUVLQEXLOGLQJ
    UHODWLRQVKLSV

    ( 3UDFWLFHKHDOWK\HDWLQJKDELWV
    ( 5HVSHFWRQHVERG\
    ( 3DUWLFLSDWHLQDILWQHVVSURJUDP

    # 3DUWLFLSDWHHIIHFWLYHO\DVDWHDP
    PHPEHU

    ( 6HWJRDOVIRUORQJWHUPKHDOWK
    )4PDJBM(SPXUI

    $o7JTJPO
    $ &RQWHPSODWHWKHIXWXUH
    $ &RQFHSWXDOL]HLGHDV
    $ 'HPRQVWUDWHFRXUDJHWRWDNHULVNV
    $ $GDSWWRRSSRUWXQLWLHVDQGREVWDFOHV
    $ 3HUVXDGHRWKHUVWRFRPPLW
    %o$IBSBDUFS
    % /LYHZLWKLQWHJULW\
    % $FFXUDWHO\DVVHVVP\YDOXHV
    % $FFHSWUHVSRQVLELOLW\IRUSHUVRQDO
    DFWLRQV
    % 5HVSHFWRWKHUV
    % 3UDFWLFHVHOIGLVFLSOLQH
    % 9DOXHVHUYLFHWRRWKHUV

    ) $FNQRZOHGJHWKDWGLIIHUHQFHVH[LVW
    DPRQJSHRSOH
    ) 3UHVHQWVHOIDSSURSULDWHO\LQYDULRXV
    VHWWLQJV
    ) 'HYHORSPDLQWDLQDQGJURZKHDOWK\
    UHODWLRQVKLSV
    *1SPGFTTJPOBM(SPXUI
    * 3ODQDQGLPSOHPHQWSURIHVVLRQDO
    JRDOVDQGSULRULWLHV
    * 0DNHFOHDUGHFLVLRQVLQP\
    SURIHVVLRQDOOLIH
    * 'HPRQVWUDWHSURIHVVLRQDOHWKLFV
    * %DODQFHSHUVRQDODQGSURIHVVLRQDO
    UHVSRQVLELOLWLHV
    * 'HPRQVWUDWHH[HPSODU\
    HPSOR\DELOLW\VNLOOV

    

    (MPTTBSZ%FmOJUJPOT1SFDFQUT+1
    +.FOUBM(SPXUI
    + 7KLQNFULWLFDOO\
    + 7KLQNFUHDWLYHO\
    + 3UDFWLFHVRXQGGHFLVLRQPDNLQJ
    + 6ROYHSUREOHPV
    + &RPPLWWROLIHORQJOHDUQLQJ
    + 3HUVXDGHRWKHUV
    + 3UDFWLFHVRXQGVWXG\VNLOOV
    ,&NPUJPOBM(SPXUI
    , &RSHZLWKOLIHVWULDOV
    , /LYHDFRPSDVVLRQDWHDQGVHOIOHVVOLIH
    , 'HYHORSVHOIDVVXUDQFHDQG
    FRQILGHQFH
    , (PEUDFHWKHHPRWLRQDOGHYHORSPHQW
    SURFHVV
    , (VWDEOLVKHPRWLRQDOZHOOEHLQJ
    , 6HHNDSSURSULDWHFRXQVHO
    , 3UDFWLFHKHDOWK\H[SUHVVLRQVRIORYH

    /%FDJTJPO.BLJOH
    / 'HPRQVWUDWHWKHGHFLVLRQPDNLQJ
    SURFHVV
    / 'HPRQVWUDWHSUREOHPVROYLQJVNLOOV
    / 0DNHHWKLFDOGHFLVLRQV
    / &KRRVHDFDUHHUEDVHGRQSDVVLRQ
    DELOLWLHVDQGDSWLWXGHV
    0'MFYJCJMJUZBOE"EBQUBCJMJUZ
    0(PEUDFHVHPHUJLQJWHFKQRORJ\LQ
    WKHZRUNSODFH
    00DQDJHVFKDQJH
    05HDFWVZLWKRSHQQHVVWRIHHGEDFN
    DQGSURIHVVLRQDOJURZWK
    RSSRUWXQLWLHV
    0([SHULPHQWVDQGWDNHVULVNV
    15FDIOJDBMBOE'VODUJPOBM
    'HWHUPLQHGE\ORFDOSURJUDPDQGRUVWDWH
    OHDGHUVKLS

    -4QJSJUVBM(SPXUI
    - 1XUWXUHDVSLULWXDOEHOLHIV\VWHP
    - 5HVSHFWDQGEHVHQVLWLYHWRRWKHUV
    EHOLHIV
    $"3&&346$$&44
    'HILQLWLRQ&DUHHUVXFFHVVLVFRQWLQXRXVO\
    GHPRQVWUDWLQJWKRVHTXDOLWLHVDWWULEXWHV
    DQGVNLOOVQHFHVVDU\WRVXFFHHGLQRUIXUWKHU
    SUHSDUHIRUDFKRVHQSURIHVVLRQZKLOH
    HIIHFWLYHO\FRQWULEXWLQJWRVRFLHW\
    .o$PNNVOJDBUJPOT
    .'HPRQVWUDWHWHFKQLFDODQGEXVLQHVV
    ZULWLQJVNLOOV
    .'HPRQVWUDWHSURIHVVLRQDOMRE
    VHHNLQJVNLOOV
    .0DNHVHIIHFWLYHEXVLQHVV
    SUHVHQWDWLRQV
    .&RPPXQLFDWHVDSSURSULDWHO\ZLWKFR
    ZRUNHUVDQGVXSHUYLVRUV
    .2SHUDWHVHIIHFWLYHO\LQWKHZRUNSODFH

    

    -JTUFO-FBE-FBSO

    'PDVT"SFB1SPCMFN4PMWJOH1ZSBNJEPG5FBNXPSL
    -JTUFO-FBE-FBSO

    1ZSBNJEPG5FBNXPSL
    %FTDSJQUJPO
    :HDOOWDNHDGYDQWDJHRIWKHHYHU\GD\OX[XU\
    RIXVLQJRXUKDQGV,QWKLVDFWLYLW\ZHZLOOSXWRXU
    PLQGVWRJHWKHULQVWHDGRIRXUKDQGV(DFKJURXS
    ZLOOZRUNWRJHWKHUWREXLOGDS\UDPLGRIFXSV7KHLU
    KDQGVZLOOQRWEHSHUPLWWHGWRWRXFKWKHFXSV
    OHDYLQJWHDPZRUNFUXFLDOWRFRPSOHWLQJDS\UDPLG

    %JSFDUJPOT
     'LYLGHWKHSDUWLFLSDQWVLQWRJURXSVRIWZRRU
    WKUHH
     *LYHHDFKJURXSDVWDFNRIQLQHFXSVDQGDVPDQ\
    SLHFHVRIVWULQJDVWKHUHDUHJURXSPHPEHUV

     $OORZHDFKJURXSDQRSSRUWXQLW\WREXLOGWKHLU
    S\UDPLG
     $VNWKHILUVWJURXSILQLVKHGZLWKWKHWDVNWR
    FRPSOHWHDS\UDPLGWRVKRZWKHUHVWRIJURXSV
    KRZWKH\GLGLW

    5IF$POOFDUJPO2VFTUJPOT

    2VJDL3FGFSFODF
    7LPHPLQ

     'LG\RXFRPSOHWHWKHWDVN":K\RUZK\QRW"

    1XPEHURI6WXGHQWV 

     :KDWPDGHWKHWDVNGLIILFXOW"

    8VHIXOQHVV

     'LGRQHSHUVRQWDNHWKHOHDG":DVWKDWKHOSIXORU
    XQKHOSIXO"

     
    'LVFXVVLQJVWUDWHJLHV
     
    $OOUHWUHDWIRUPDWV

     ,VLWHDVLHUWRFRQWUROWKHFXSZLWKDORQJVWULQJRU
    DVKRUWVWULQJ"

    6XSSOLHV

     ,I\RXZHUHWRGRLWDJDLQZKDWZRXOG\RXGR
    GLIIHUHQWO\"

    1SPCMFN4PMWJOH

     7KHREMHFWRIWKLVDFWLYLW\LVWREHWKHILUVWJURXS
    WREXLOGDS\UDPLGXVLQJDOORIWKHFXSV7KH
    FDWFKLVWKDW\RXPDQ\RQO\XVHWKHVWULQJWR
    KDQGOHWKHFXSV

     
    3ODVWLFRUIRDPFXSV
     
    %DOORIVWULQJ\DUQ

     :RXOGWKLVWDVNEHHDVLHURUKDUGHUZLWKPRUH
    SHRSOH"

    8SBQVQ
    $VZHGLVFRYHUHGSUREOHPVROYLQJDQGSDWLHQFHDUHFUXFLDOLQWKLVDFWLYLW\:HVDZWKHUH
    LVPRUHWKDQRQHZD\WREXLOGWKHS\UDPLGEXWWKURXJKRXWRXUSUREOHPVROYLQJSURFHVVZH
    WULHGWRILQGWKHPRVWHIILFLHQWDQGHIIHFWLYHPHWKRG*UHDWMRE

    

    'PDVT"SFB1SPCMFN4PMWJOH1ZSBNJEPG5FBNXPSL
    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
     1'HFLVLRQ0DNLQJ
     
    1'HPRQVWUDWHSUREOHPVROYLQJVNLOOV
    0RGDOLWLHV
     
    9LVXDO
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    6SDWLDO
     
    /RJLFDO0DWKHPDWLFDO

    -,&YUFOTJPO
    +66HOHFWLQJD6WUDWHJ\

    1SPCMFN4PMWJOH
    

    -JTUFO-FBE-FBSO

    'PDVT"SFB1SPCMFN4PMWJOH-JGFJTB3PBE5SJQ
    -JTUFO-FBE-FBSO

    -JGFJTB3PBE5SJQ
    %FTDSJQUJPO
    7KHUHDUHPDQ\URDGVOHDGLQJWRWKHVDPH
    GHVWLQDWLRQ+HOS\RXUVWXGHQWVXQGHUVWDQGWKH
    SRVVLELOLWLHVDUHHQGOHVVZKHQLWFRPHVWRSODQQLQJ
    IRUDVKRUWWHUPSURMHFWRUOLIHORQJJRDOV8VHWKLV
    PDSH[HUFLVHWRKHOSWKHPXQGHUVWDQG

    %JSFDUJPOT
     <RXZLOOKDYHWKHJURXSFKRRVHDGHVWLQDWLRQ
    LWZDQWVWRWUDYHOWR+RZHYHUWKHUHDUHVRPH
    UHTXLUHPHQWVIRUWKHWULS
    D  :HZLOOZDONRUKLNHWRWKHGHVWLQDWLRQ
    E  7KHWULSGHVWLQDWLRQPXVWEHDPLQLPXPRI
    PLOHVIURP\RXUVFKRRODQGQRWPRUH
    WKDQPLOHV

    G  7KHWULSPXVWFRQFOXGHZLWKLQVL[PRQWKV
    H  7KH\FDQQRWXVHKRWHOVPRWHOVIRUORGJLQJ
    I  7KH\PXVWWDNHDOORIWKHLUIRRGDQGRWKHU
    VXSSOLHVZLWKWKHP

    3FTPVSDFT

    J  7KH\KDYHQRPRQH\WRWDNHZLWKWKHPRQWKH
    WULS

    7LPHPLQ

    K  $OOPHPEHUVRIWKHFODVVPXVWPDNHWKHWULS

    8VHIXOQHVV

    L  0DNHUHVWULFWLRQVYLVLEOHWRDOOSDUWLFLSDQWV

    
    
    
    

     (DFKSHUVRQVKRXOGZULWHDVWDWHRQDSLHFHRI
    SDSHUDQGSDVVLWWRWKHIURQW7KHVWDWHJHWWLQJ
    WKHPRVWYRWHVZLQV,ZLOOSLFNDWRZQLQWKDWVWDWH
     2QFHWKHGHVWLQDWLRQKDVEHHQVHOHFWHGGLYLGHWKH
    FODVVLQWRJURXSVRIWZRWRILYH

    1XPEHURI6WXGHQWV 
    
    'LYHUVLW\
    
    3HUVRQDOJRDOVHWWLQJ
    
    5HWUHDW
    
    6$(SODQQLQJ

    1SPCMFN4PMWJOH

    F  7KHWULSGHVWLQDWLRQPXVWEHLQWKH8QLWHG
    6WDWHV

    6XSSOLHV
     
    0DSRIWKH8QLWHG6WDWHV

     *LYHHDFKJURXSDPDSRIWKH8QLWHG6WDWHV
     *LYHHDFKJURXSPLQXWHVWRZRUNRQWKLV
    DFWLYLW\
     (DFKJURXSPXVWDQVZHUWKHIROORZLQJTXHVWLRQV
    D:KDWWLPHRI\HDUZLOOWKH\WUDYHO"
    E:KDWURXWHZLOOWKH\WDNHWRWKHLUGHVWLQDWLRQ"
    F,VWKHLUJRDOWRJHWWRWKHGHVWLQDWLRQWKHIDVWHVWRUWRHQMR\WKHVFHQHU\"
    G:KDWVXSSOLHVZLOOWKH\QHHG"

    

    'PDVT"SFB1SPCMFN4PMWJOH-JGFJTB3PBE5SJQ
     (DFKJURXSVKRXOGGUDZRQWKHPDSZLWKDPDUNHUWKHURXWHWKH\ZLOOWDNH
     $IWHUWKHPLQXWHVKDYHHDFKJURXSSODFHLWVPDSRQWKHZDOO
     $UHSUHVHQWDWLYHIURPHDFKJURXSVKDUHWKHSODQVDQGDQVZHUVWRWKHTXHVWLRQV

    5IF$POOFDUJPO2VFTUJPOT
     'LGGLIIHUHQWJURXSVKDYHGLIIHUHQWLGHDV"
     :KDWGRHVWKLVH[HUFLVHWHOOXVDERXWGLIIHUHQWSHRSOH"
     :HVHHWKDWWKHUHLVFOHDUO\PRUHWKDQRQHZD\WRJHWWRRXUGHVWLQDWLRQ,QZKDWRWKHU
    DUHDVRIRXUOLYHVLVWKHUHPRUHWKDQRQHZD\WRDFFRPSOLVKWKHJRDO"
     $V\RXORRNDWWKHPDSVDQGWKHYDULRXVURXWHVWDNHQE\WKHGLIIHUHQWJURXSVDUHWKH\
    GLIIHUHQW":K\"
     $UHVRPHPRUHGLUHFWWKDQRWKHUV"
     :DVWKHUHDQ\IUXVWUDWLRQEHWZHHQPHPEHUVRI\RXUJURXS":KDWZDVWKHLVVXH V "
     :KDWGRHVWKLVGHFLVLRQPDNLQJVFHQDULRWHOOXVDERXWJURXSZRUN"

    8SBQVQ
    1SPCMFN4PMWJOH

    $VZHGLVFRYHUHGHYHU\RQHLVGLIIHUHQWDQGFDQWDNHGLIIHUHQWURXWHVWRWKHVDPH
    GHVWLQDWLRQDQGWKDWLV2.:HPXVWEHWROHUDQWRIRWKHUVLGHDVDQGEHOLHIVHYHQLIZHGRQW
    VKDUHWKRVHVDPHLGHDV:RUNLQJDVDWHDPFDQEHGLIILFXOWDWWLPHVZLWKHDFKSHUVRQV
    SHUVSHFWLYHVDQGRSLQLRQVEXWZHPXVWOHDUQWRFRPSURPLVHDQGOLVWHQWRRWKHUVYLHZSRLQWV

    3FTFBSDI.FUIPEPMPHJFT
    3UHFHSW
    
    
    
    
    
    

    %5HODWLRQVKLSV
    
    %,QWHUDFWDQGZRUNZLWKRWKHUV
    1'HFLVLRQ0DNLQJ
    
    1'HPRQVWUDWHWKHGHFLVLRQPDNLQJSURFHVV
    2)OH[LELOLW\DQG$GDSWDELOLW\
    
    25HDFWVZLWKRSHQQHVVWRIHHGEDFNDQGSURIHVVLRQDOJURZWKRSSRUWXQLWLHV

    0RGDOLWLHV
     
    9LVXDO
     
    $XGLWRU\
     
    .LQHVWKHWLF
    0XOWLSOH,QWHOOLJHQFHV
     
    6SDWLDO
     
    ,QWHUSHUVRQDO
     
    /RJLFDO0DWKHPDWLF

    -,&YUFOTJPO
    +63UHSDULQJIRUWKH7ULS 6$(

    

    -JTUFO-FBE-FBSO

    (MPTTBSZ
    t %FmOJUJPOT
    t 1SFDFQUT

    (MPTTBSZ%FmOJUJPOT1SFDFQUT

    

    -JTUFO-FBE-FBSO

    -JGF,OPXMFEHF BTQFDJBMQSPKFDUPGUIF/BUJPOBM''"'PVOEBUJPOJTNBEF
    QPTTJCMFUISPVHIUIFHFOFSPVTTVQQPSUPGPVS'PVOEJOHBOE4VQQPSUJOH1BSUOFST

    'PVOEJOH1BSUOFST

    4VQQPSUJOH1BSUOFS

    5IF''".JTTJPO

    ''"NBLFTBQPTJUJWFEJGGFSFODFJOUIFMJWFTPGTUVEFOUTCZEFWFMPQJOHUIFJSQPUFOUJBMGPS
    QSFNJFSMFBEFSTIJQ QFSTPOBMHSPXUIBOEDBSFFSTVDDFTTUISPVHIBHSJDVMUVSBMFEVDBUJPO
    
    5IF"HSJDVMUVSBM&EVDBUJPO.JTTJPO

    "HSJDVMUVSBMFEVDBUJPOQSFQBSFTTUVEFOUTGPSTVDDFTTGVMDBSFFSTBOEBMJGFUJNFPGJOGPSNFE
    DIPJDFTJOUIFHMPCBMBHSJDVMUVSF GPPE mCFSBOEOBUVSBMSFTPVSDFTTZTUFNT
    5IF/BUJPOBM''"0SHBOJ[BUJPOJTBSFTPVSDFBOETVQQPSUPSHBOJ[BUJPOUIBUEPFTOPUTFMFDU 
    BTTPDJBUJPO MPDBMDIBQUFSPSJOEJWJEVBMNFNCFSBDUJWJUJFTFYDFQUBTFYQSFTTMZQSPWJEFE
    0SHBOJ[BUJPO$POTUJUVUJPOBOE#ZMBXT5IF/BUJPOBM''"0SHBOJ[BUJPOBGmSNTJUTCFMJFGJOUIF
    WBMVFPGBMMIVNBOCFJOHTBOETFFLTMFBEFSTIJQBOETUBGGBTBOFRVBMPQQPSUVOJUZFNQMPZFS
    1DWLRQDO))$2UJDQL]DWLRQ
    ,WLVLOOHJDOWRUHSURGXFHFRSLHVRIWKLVPDWHULDOZLWKRXW
    ZULWWHQSHUPLVVLRQIURPWKH1DWLRQDO))$2UJDQL]DWLRQRU
    WKH8QLWHG6WDWHV'HSDUWPHQWRI$JULFXOWXUH

    You might also like