Novamatic EK617.2L, EK617.2R User manual

  • Hello! I am an AI chatbot trained to assist you with the Novamatic EK617.2L User manual. I’ve already reviewed the document and can help you find the information you need or explain it in simple terms. Just ask your questions, and providing more details will help me assist you more effectively!
(.5
(./
8VHU0DQXDO
%HQXW]HULQIRUPDWLRQ
5HIULJHUDWRU
.¾KOVFKUDQN
Built-In Refrigerator
Einbau-Kühlschrank
2
&217(176
6DIHW\LQIRUPDWLRQ
6DIHW\LQVWUXFWLRQV
,QVWDOODWLRQ
&RQWUROSDQHO
'DLO\XVH
+LQWVDQGWLSV 
&DUHDQGFOHDQLQJ 
7URXEOHVKRRWLQJ 
1RLVHV 
7HFKQLFDOGDWD 
,QIRUPDWLRQIRUWHVWLQVWLWXWHV 
6XEMHFWWRFKDQJHZLWKRXWQRWLFH
9,6,7285:(%6,7(72
*HWXVDJHDGYLFHEURFKXUHVWURXEOHVKRRWHUVHUYLFHDQGUHSDLU
LQIRUPDWLRQ
KWWSVZZZIXVWFKUHSDUDWXU
6$)(7<,1)250$7,21
%HIRUHWKHLQVWDOODWLRQDQGXVHRIWKHDSSOLDQFHFDUHIXOO\
UHDGWKHVXSSOLHGLQVWUXFWLRQV7KHPDQXIDFWXUHULVQRW
UHVSRQVLEOHIRUDQ\LQMXULHVRUGDPDJHWKDWDUHWKHUHVXOWRI
LQFRUUHFWLQVWDOODWLRQRUXVDJH$OZD\VNHHSWKHLQVWUXFWLRQV
LQDVDIHDQGDFFHVVLEOHORFDWLRQIRUIXWXUHUHIHUHQFH
&KLOGUHQDQGYXOQHUDEOHSHRSOHVDIHW\
7KLVDSSOLDQFHFDQEHXVHGE\FKLOGUHQDJHGIURP\HDUV
DQGDERYHDQGSHUVRQVZLWKUHGXFHGSK\VLFDOVHQVRU\RU
PHQWDOFDSDELOLWLHVRUODFNRIH[SHULHQFHDQGNQRZOHGJHLI
WKH\KDYHEHHQJLYHQVXSHUYLVLRQRULQVWUXFWLRQFRQFHUQLQJ
WKHXVHRIWKHDSSOLDQFHLQDVDIHZD\DQGXQGHUVWDQGWKH
KD]DUGVLQYROYHG
&KLOGUHQDJHGIURPWR\HDUVDUHDOORZHGWRORDGDQG
XQORDGWKHDSSOLDQFHSURYLGHGWKDWWKH\KDYHEHHQ
SURSHUO\LQVWUXFWHG
7KLVDSSOLDQFHPD\EHXVHGE\SHUVRQVZLWKYHU\
H[WHQVLYHDQGFRPSOH[GLVDELOLWLHVSURYLGHGWKDWWKH\KDYH
EHHQSURSHUO\LQVWUXFWHG
&KLOGUHQRIOHVVWKDQ\HDUVRIDJHVKRXOGEHNHSWDZD\
IURPWKHDSSOLDQFHXQOHVVFRQWLQXRXVO\VXSHUYLVHG
'RQRWOHWFKLOGUHQSOD\ZLWKWKHDSSOLDQFH
3
&KLOGUHQVKDOOQRWFDUU\RXWFOHDQLQJDQGXVHUPDLQWHQDQFH
RIWKHDSSOLDQFHZLWKRXWVXSHUYLVLRQ
.HHSDOOSDFNDJLQJDZD\IURPFKLOGUHQDQGGLVSRVHRILW
DSSURSULDWHO\
*HQHUDO6DIHW\
7KLVDSSOLDQFHLVLQWHQGHGWREHXVHGLQKRXVHKROGDQG
VLPLODUDSSOLFDWLRQVVXFKDV
)DUPKRXVHVVWDIINLWFKHQDUHDVLQVKRSVRIILFHVDQG
RWKHUZRUNLQJHQYLURQPHQWV
%\FOLHQWVLQKRWHOVPRWHOVEHGDQGEUHDNIDVWDQGRWKHU
UHVLGHQWLDOW\SHHQYLURQPHQWV
7RDYRLGFRQWDPLQDWLRQRIIRRGUHVSHFWWKHIROORZLQJ
LQVWUXFWLRQV
GRQRWRSHQWKHGRRUIRUORQJSHULRGV
FOHDQUHJXODUO\VXUIDFHVWKDWFDQFRPHLQFRQWDFWZLWK
IRRGDQGDFFHVVLEOHGUDLQDJHV\VWHPV
VWRUHUDZPHDWDQGILVKLQVXLWDEOHFRQWDLQHUVLQWKH
UHIULJHUDWRUVRWKDWLWLVQRWLQFRQWDFWZLWKRUGULSRQWR
RWKHUIRRG
:$51,1*.HHSYHQWLODWLRQRSHQLQJVLQWKHDSSOLDQFH
HQFORVXUHRULQWKHEXLOWLQVWUXFWXUHFOHDURIREVWUXFWLRQ
:$51,1*'RQRWXVHPHFKDQLFDOGHYLFHVRURWKHU
PHDQVWRDFFHOHUDWHWKHGHIURVWLQJSURFHVVRWKHUWKDQ
WKRVHUHFRPPHQGHGE\WKHPDQXIDFWXUHU
:$51,1*'RQRWGDPDJHWKHUHIULJHUDQWFLUFXLW
:$51,1*'RQRWXVHHOHFWULFDODSSOLDQFHVLQVLGHWKH
IRRGVWRUDJHFRPSDUWPHQWVRIWKHDSSOLDQFHXQOHVVWKH\
DUHRIWKHW\SHUHFRPPHQGHGE\WKHPDQXIDFWXUHU
'RQRWXVHZDWHUVSUD\DQGVWHDPWRFOHDQWKHDSSOLDQFH
&OHDQWKHDSSOLDQFHZLWKDPRLVWVRIWFORWK2QO\XVH
QHXWUDOGHWHUJHQWV'RQRWXVHDEUDVLYHSURGXFWVDEUDVLYH
FOHDQLQJSDGVVROYHQWVRUPHWDOREMHFWV
:KHQWKHDSSOLDQFHLVHPSW\IRUORQJSHULRGVZLWFKLWRII
GHIURVWFOHDQGU\DQGOHDYHWKHGRRURSHQWRSUHYHQW
PRXOGIURPGHYHORSLQJZLWKLQWKHDSSOLDQFH
4
'RQRWVWRUHH[SORVLYHVXEVWDQFHVVXFKDVDHURVROFDQV
ZLWKDIODPPDEOHSURSHOODQWLQWKLVDSSOLDQFH
,IWKHVXSSO\FRUGLVGDPDJHGLWPXVWEHUHSODFHGE\WKH
PDQXIDFWXUHULWV$XWKRULVHG6HUYLFH&HQWUHRUVLPLODUO\
TXDOLILHGSHUVRQVLQRUGHUWRDYRLGDKD]DUG
6$)(7<,16758&7,216
,QVWDOODWLRQ
:$51,1*2QO\DTXDOLILHG
SHUVRQPXVWLQVWDOOWKLV
DSSOLDQFH
5HPRYHDOOWKHSDFNDJLQJ
'RQRWLQVWDOORUXVHDGDPDJHG
DSSOLDQFH
'RQRWXVHWKHDSSOLDQFHEHIRUH
LQVWDOOLQJLWLQWKHEXLOWLQVWUXFWXUHGXH
WRVDIHW\PDQQHU
)ROORZWKHLQVWDOODWLRQLQVWUXFWLRQV
VXSSOLHGZLWKWKHDSSOLDQFH
$OZD\VWDNHFDUHZKHQPRYLQJWKH
DSSOLDQFHDVLWLVKHDY\$OZD\VXVH
VDIHW\JORYHVDQGHQFORVHGIRRWZHDU
0DNHVXUHWKHDLUFDQFLUFXODWHDURXQG
WKHDSSOLDQFH
$WILUVWLQVWDOODWLRQRUDIWHUUHYHUVLQJWKH
GRRUZDLWDWOHDVWKRXUVEHIRUH
FRQQHFWLQJWKHDSSOLDQFHWRWKHSRZHU
VXSSO\7KLVLVWRDOORZWKHRLOWRIORZ
EDFNLQWKHFRPSUHVVRU
%HIRUHFDUU\LQJRXWDQ\RSHUDWLRQVRQ
WKHDSSOLDQFHHJUHYHUVLQJWKHGRRU
UHPRYHWKHSOXJIURPWKHSRZHUVRFNHW
'RQRWLQVWDOOWKHDSSOLDQFHFORVHWR
UDGLDWRUVRUFRRNHUVRYHQVRUKREV
'RQRWH[SRVHWKHDSSOLDQFHWRWKH
UDLQ
'RQRWLQVWDOOWKHDSSOLDQFHZKHUHWKHUH
LVGLUHFWVXQOLJKW
'RQRWLQVWDOOWKLVDSSOLDQFHLQDUHDV
WKDWDUHWRRKXPLGRUWRRFROG
:KHQ\RXPRYHWKHDSSOLDQFHOLIWLWE\
WKHIURQWHGJHWRDYRLGVFUDWFKLQJWKH
IORRU
(OHFWULFDOFRQQHFWLRQ
:$51,1*5LVNRIILUHDQG
HOHFWULFVKRFN
:$51,1*:KHQSRVLWLRQLQJ
WKHDSSOLDQFHHQVXUHWKH
VXSSO\FRUGLVQRWWUDSSHGRU
GDPDJHG
:$51,1*'RQRWXVHPXOWL
SOXJDGDSWHUVDQGH[WHQVLRQ
FDEOHV
7KHDSSOLDQFHPXVWEHHDUWKHG
0DNHVXUHWKDWWKHSDUDPHWHUVRQWKH
UDWLQJSODWHDUHFRPSDWLEOHZLWKWKH
HOHFWULFDOUDWLQJVRIWKHPDLQVSRZHU
VXSSO\
$OZD\VXVHDFRUUHFWO\LQVWDOOHG
VKRFNSURRIVRFNHW
0DNHVXUHQRWWRFDXVHGDPDJHWRWKH
HOHFWULFDOFRPSRQHQWVHJPDLQVSOXJ
PDLQVFDEOHFRPSUHVVRU&RQWDFWWKH
$XWKRULVHG6HUYLFH&HQWUHRUDQ
HOHFWULFLDQWRFKDQJHWKHHOHFWULFDO
FRPSRQHQWV
7KHPDLQVFDEOHPXVWVWD\EHORZWKH
OHYHORIWKHPDLQVSOXJ
&RQQHFWWKHPDLQVSOXJWRWKHPDLQV
VRFNHWRQO\DWWKHHQGRIWKH
LQVWDOODWLRQ0DNHVXUHWKDWWKHUHLV
DFFHVVWRWKHPDLQVSOXJDIWHUWKH
LQVWDOODWLRQ
'RQRWSXOOWKHPDLQVFDEOHWR
GLVFRQQHFWWKHDSSOLDQFH$OZD\VSXOO
WKHPDLQVSOXJ
8VH
:$51,1*5LVNRILQMXU\
EXUQVHOHFWULFVKRFNRUILUH
5
7KHDSSOLDQFHFRQWDLQVIODPPDEOH
JDVLVREXWDQH5DDQDWXUDOJDVZLWK
DKLJKOHYHORIHQYLURQPHQWDOFRPSDWLELOLW\
%HFDUHIXOQRWWRFDXVHGDPDJHWRWKH
UHIULJHUDQWFLUFXLWFRQWDLQLQJLVREXWDQH
'RQRWFKDQJHWKHVSHFLILFDWLRQRIWKLV
DSSOLDQFH
'RQRWSXWHOHFWULFDODSSOLDQFHVHJ
LFHFUHDPPDNHUVLQWKHDSSOLDQFH
XQOHVVWKH\DUHVWDWHGDSSOLFDEOHE\WKH
PDQXIDFWXUHU
,IGDPDJHRFFXUVWRWKHUHIULJHUDQW
FLUFXLWPDNHVXUHWKDWWKHUHDUHQR
IODPHVDQGVRXUFHVRILJQLWLRQLQWKH
URRP9HQWLODWHWKHURRP
'RQRWOHWKRWLWHPVWRWRXFKWKHSODVWLF
SDUWVRIWKHDSSOLDQFH
'RQRWSXWVRIWGULQNVLQWKHIUHH]HU
FRPSDUWPHQW7KLVZLOOFUHDWHSUHVVXUH
RQWKHGULQNFRQWDLQHU
'RQRWVWRUHIODPPDEOHJDVDQGOLTXLG
LQWKHDSSOLDQFH
'RQRWSXWIODPPDEOHSURGXFWVRULWHPV
WKDWDUHZHWZLWKIODPPDEOHSURGXFWV
LQQHDURURQWKHDSSOLDQFH
'RQRWWRXFKWKHFRPSUHVVRURUWKH
FRQGHQVHU7KH\DUHKRW
'RQRWUHPRYHRUWRXFKLWHPVIURPWKH
IUHH]HUFRPSDUWPHQWLI\RXUKDQGVDUH
ZHWRUGDPS
'RQRWIUHH]HDJDLQIRRGWKDWKDVEHHQ
WKDZHG
)ROORZWKHVWRUDJHLQVWUXFWLRQVRQWKH
SDFNDJLQJRIIUR]HQIRRG
:UDSWKHIRRGLQDQ\IRRGFRQWDFW
PDWHULDOEHIRUHSXWWLQJLWLQWKHIUHH]HU
FRPSDUWPHQW
,QWHUQDOOLJKWLQJ
:$51,1*5LVNRIHOHFWULF
VKRFN
&RQFHUQLQJWKHODPSVLQVLGHWKLV
SURGXFWDQGVSDUHSDUWODPSVVROG
VHSDUDWHO\7KHVHODPSVDUHLQWHQGHG
WRZLWKVWDQGH[WUHPHSK\VLFDO
FRQGLWLRQVLQKRXVHKROGDSSOLDQFHV
VXFKDVWHPSHUDWXUHYLEUDWLRQ
KXPLGLW\RUDUHLQWHQGHGWRVLJQDO
LQIRUPDWLRQDERXWWKHRSHUDWLRQDOVWDWXV
RIWKHDSSOLDQFH7KH\DUHQRWLQWHQGHG
WREHXVHGLQRWKHUDSSOLFDWLRQVDQGDUH
QRWVXLWDEOHIRUKRXVHKROGURRP
LOOXPLQDWLRQ
&DUHDQGFOHDQLQJ
:$51,1*5LVNRILQMXU\RU
GDPDJHWRWKHDSSOLDQFH
%HIRUHPDLQWHQDQFHGHDFWLYDWHWKH
DSSOLDQFHDQGGLVFRQQHFWWKHPDLQV
SOXJIURPWKHPDLQVVRFNHW
7KLVDSSOLDQFHFRQWDLQVK\GURFDUERQV
LQWKHFRROLQJXQLW2QO\DTXDOLILHG
SHUVRQPXVWGRWKHPDLQWHQDQFHDQG
WKHUHFKDUJLQJRIWKHXQLW
5HJXODUO\H[DPLQHWKHGUDLQRIWKH
DSSOLDQFHDQGLIQHFHVVDU\FOHDQLW,I
WKHGUDLQLVEORFNHGGHIURVWHGZDWHU
FROOHFWVLQWKHERWWRPRIWKHDSSOLDQFH
6HUYLFH
7RUHSDLUWKHDSSOLDQFHFRQWDFWWKH
$XWKRULVHG6HUYLFH&HQWUH8VHRULJLQDO
VSDUHSDUWVRQO\
3OHDVHQRWHWKDWVHOIUHSDLURUQRQ
SURIHVVLRQDOUHSDLUFDQKDYHVDIHW\
FRQVHTXHQFHVDQGPLJKWYRLGWKH
JXDUDQWHH
'LVSRVDO
:$51,1*5LVNRILQMXU\RU
VXIIRFDWLRQ
'LVFRQQHFWWKHDSSOLDQFHIURPWKH
PDLQVVXSSO\
&XWRIIWKHPDLQVFDEOHDQGGLVFDUGLW
5HPRYHWKHGRRUWRSUHYHQWFKLOGUHQ
DQGSHWVWREHFORVHGLQVLGHRIWKH
DSSOLDQFH
7KHUHIULJHUDQWFLUFXLWDQGWKHLQVXODWLRQ
PDWHULDOVRIWKLVDSSOLDQFHDUHR]RQH
IULHQGO\
7KHLQVXODWLRQIRDPFRQWDLQV
IODPPDEOHJDV&RQWDFW\RXUPXQLFLSDO
DXWKRULW\IRULQIRUPDWLRQRQKRZWR
GLVFDUGWKHDSSOLDQFHFRUUHFWO\
6
'RQRWFDXVHGDPDJHWRWKHSDUWRIWKH
FRROLQJXQLWWKDWLVQHDUWKHKHDW
H[FKDQJHU
,167$//$7,21
:$51,1*5HIHUWR6DIHW\
FKDSWHUV
:$51,1*5HIHUWR
LQVWDOODWLRQLQVWUXFWLRQ
GRFXPHQWWRLQVWDOO\RXU
DSSOLDQFH
:$51,1*)L[WKHDSSOLDQFH
LQDFFRUGDQFHZLWKLQVWDOODWLRQ
LQVWUXFWLRQGRFXPHQWWRDYRLGD
ULVNRILQVWDELOLW\RIWKH
DSSOLDQFH
'LPHQVLRQV
B
A
H1
W1
D1
W2
D2
W3
D3
2YHUDOOGLPHQVLRQV{
+ PP 
: PP 
' PP 
{WKHKHLJKWZLGWKDQGGHSWKRIWKH
DSSOLDQFHZLWKRXWWKHKDQGOHDQGIHHW
6SDFHUHTXLUHGLQXVHt
+$% PP 
: PP 
' PP 
tWKHKHLJKWZLGWKDQGGHSWKRIWKH
DSSOLDQFHLQFOXGLQJWKHKDQGOHSOXVWKH
7
VSDFHQHFHVVDU\IRUIUHHFLUFXODWLRQRIWKH
FRROLQJDLU
2YHUDOOVSDFHUHTXLUHGLQXVHu
+$% PP 
: PP 
' PP 
uWKHKHLJKWZLGWKDQGGHSWKRIWKH
DSSOLDQFHLQFOXGLQJWKHKDQGOHSOXVWKH
VSDFHQHFHVVDU\IRUIUHHFLUFXODWLRQRIWKH
FRROLQJDLUSOXVWKHVSDFHQHFHVVDU\WR
DOORZGRRURSHQLQJWRWKHPLQLPXPDQJOH
SHUPLWWLQJUHPRYDORIDOOLQWHUQDO
HTXLSPHQW
/RFDWLRQ
7RHQVXUHDSSOLDQFHVEHVWIXQFWLRQDOLW\
\RXVKRXOGQRWLQVWDOOWKHDSSOLDQFHLQWKH
QHDUE\RIWKHKHDWVRXUFHRYHQVWRYHV
UDGLDWRUVFRRNHUVRUKREVRULQDSODFH
ZLWKGLUHFWVXQOLJKW0DNHVXUHWKDWDLUFDQ
FLUFXODWHIUHHO\DURXQGWKHEDFNRIWKH
FDELQHW
7KLVDSSOLDQFHVKRXOGEHLQVWDOOHGLQDGU\
ZHOOYHQWLODWHGLQGRRUSRVLWLRQ
7KLVDSSOLDQFHLVLQWHQGHGWREHXVHGDW
DPELHQWWHPSHUDWXUHUDQJLQJIURPr&WR
r&
7KHFRUUHFWRSHUDWLRQRIWKH
DSSOLDQFHFDQRQO\EH
JXDUDQWHHGZLWKLQWKHVSHFLILHG
WHPSHUDWXUHUDQJH
,I\RXKDYHDQ\GRXEWV
UHJDUGLQJZKHUHWRLQVWDOOWKH
DSSOLDQFHSOHDVHWXUQWRWKH
YHQGRUWRRXUFXVWRPHUVHUYLFH
RUWRWKHQHDUHVW$XWKRULVHG
6HUYLFH&HQWUH
,WPXVWEHSRVVLEOHWR
GLVFRQQHFWWKHDSSOLDQFHIURP
WKHPDLQVSRZHUVXSSO\7KH
SOXJPXVWWKHUHIRUHEHHDVLO\
DFFHVVLEOHDIWHULQVWDOODWLRQ
(OHFWULFDOFRQQHFWLRQ
%HIRUHSOXJJLQJLQHQVXUHWKDWWKH
YROWDJHDQGIUHTXHQF\VKRZQRQWKH
UDWLQJSODWHFRUUHVSRQGWR\RXU
GRPHVWLFSRZHUVXSSO\
7KHDSSOLDQFHPXVWEHHDUWKHG7KH
SRZHUVXSSO\FDEOHSOXJLVSURYLGHG
ZLWKDFRQWDFWIRUWKLVSXUSRVH,IWKH
GRPHVWLFSRZHUVXSSO\VRFNHWLVQRW
HDUWKHGFRQQHFWWKHDSSOLDQFHWRD
VHSDUDWHHDUWKLQFRPSOLDQFHZLWK
FXUUHQWUHJXODWLRQVFRQVXOWLQJD
TXDOLILHGHOHFWULFLDQ
7KHPDQXIDFWXUHUGHFOLQHVDOO
UHVSRQVLELOLW\LIWKHDERYHVDIHW\
SUHFDXWLRQVDUHQRWREVHUYHG
7KLVDSSOLDQFHFRPSOLHVZLWKWKH((&
'LUHFWLYHV
9HQWLODWLRQUHTXLUHPHQWV
7KHDLUIORZEHKLQGWKHDSSOLDQFHPXVWEH
VXIILFLHQW
5 cm
min.
200 cm
2
min.
200 cm
2
&$87,215HIHUWRWKH
LQVWDOODWLRQLQVWUXFWLRQVIRUWKH
LQVWDOODWLRQ
'RRUUHYHUVLELOLW\
3OHDVHUHIHUWRWKHVHSDUDWHGRFXPHQW
ZLWKLQVWUXFWLRQVRQLQVWDOODWLRQDQGGRRU
UHYHUVDO
&$87,21$WHYHU\VWDJHRI
UHYHUVLQJWKHGRRUSURWHFWWKH
IORRUIURPVFUDWFKLQJZLWKD
GXUDEOHPDWHULDO
8
&21752/3$1(/
1 2
4 3
1 2
4 3
 7HPSHUDWXUHLQGLFDWRU/('
 )DVW)UHH]HLQGLFDWRU
 )DVW)UHH]HEXWWRQ
 7HPSHUDWXUHUHJXODWRU
212))EXWWRQ
6ZLWFKLQJRQ
 ,QVHUWWKHSOXJLQWRWKHZDOOVRFNHW
 7RXFKWKHWHPSHUDWXUHUHJXODWRU
EXWWRQLIDOO/('LQGLFDWRUVDUHRII
6ZLWFKLQJRII
.HHSWRXFKLQJWKHWHPSHUDWXUHUHJXODWRU
EXWWRQIRUVHFRQGV
$OOLQGLFDWRUVOLJKWRII
7HPSHUDWXUHUHJXODWLRQ
7RRSHUDWHWKHDSSOLDQFHWRXFKWKH
WHPSHUDWXUHUHJXODWRUXQWLOWKH/('
FRUUHVSRQGLQJWRWKHUHTXLUHGWHPSHUDWXUH
OLJKWVXS6HOHFWLRQLVSURJUHVVLYHYDU\LQJ
IURPr&WRr&5HFRPPHQGHGVHWWLQJLV
r&
 7RXFKWHPSHUDWXUHUHJXODWRU
&XUUHQWWHPSHUDWXUHLQGLFDWRUEOLQNV$Q\
WLPH\RXWRXFKWKHWHPSHUDWXUHUHJXODWRU
WKHVHWWLQJPRYHVE\RQHSRVLWLRQ7KH
FRUUHVSRQGLQJ/('EOLQNVIRUDZKLOH
 7RXFKWKHWHPSHUDWXUHUHJXODWRUXQWLO
WKHUHTXLUHGWHPSHUDWXUHLVVHOHFWHG
7KHVHWWHPSHUDWXUHZLOOEH
UHDFKHGZLWKLQKRXUV$IWHU
DSRZHUIDLOXUHWKHVHW
WHPSHUDWXUHUHPDLQVVWRUHG
)DVW)UHH]HIXQFWLRQ
7KH)DVW)UHH]HIXQFWLRQLVXVHGWR
SHUIRUPSUHIUHH]LQJDQGIDVWIUHH]LQJLQ
VHTXHQFHLQWKHIUHH]HUFRPSDUWPHQW
7KLVIXQFWLRQDFFHOHUDWHVWKHIUHH]LQJRI
IUHVKIRRGDQGDWWKHVDPHWLPHSURWHFWV
IRRGSURGXFWVDOUHDG\VWRUHGLQWKHIUHH]HU
FRPSDUWPHQWIURPXQGHVLUDEOHZDUPLQJ
7RIUHH]HIUHVKIRRGDFWLYDWH
WKH)DVW)UHH]HIXQFWLRQDWOHDVW
KRXUVEHIRUHSODFLQJWKH
IRRGWRFRPSOHWHSUHIUHH]LQJ
7RDFWLYDWH)DVW)UHH]HIXQFWLRQSUHVVWKH
)DVW)UHH]HEXWWRQ7KH)DVW)UHH]H
LQGLFDWRUVZLWFKHVRQ
7KLVIXQFWLRQVWRSV
DXWRPDWLFDOO\DIWHUKRXUV
,WLVSRVVLEOHWRGHDFWLYDWHWKHIXQFWLRQDW
DQ\WLPHE\SUHVVLQJ)DVW)UHH]HEXWWRQ
DJDLQ7KH)DVW)UHH]HLQGLFDWRUVZLWFKHV
RII
'RRURSHQDODUP
,IWKHIULGJHGRRULVOHIWRSHQIRU
DSSUR[LPDWHO\PLQXWHVWKHVRXQGLVRQ
'XULQJWKHDODUPWKHVRXQGFDQEHPXWHG
E\SUHVVLQJDQ\EXWWRQ7KHVRXQG
VZLWFKHVRIIDXWRPDWLFDOO\DIWHUDURXQG
RQHKRXUWRDYRLGGLVWXUELQJ
7KHDODUPGHDFWLYDWHVDIWHUFORVLQJWKH
GRRU
9
'$,/<86(
3RVLWLRQLQJWKHGRRUVKHOYHV
7RSHUPLWVWRUDJHRIIRRGSDFNDJHVRI
YDULRXVVL]HVWKHGRRUVKHOYHVFDQEH
SODFHGDWGLIIHUHQWKHLJKWV
 *UDGXDOO\SXOOWKHVKHOIXSXQWLOLW
FRPHVIUHH
 5HSRVLWLRQDVUHTXLUHG
0RYDEOHVKHOYHV
7KHZDOOVRIWKHUHIULJHUDWRUDUHHTXLSSHG
ZLWKDVHULHVRIUXQQHUVVRWKDWWKH
VKHOYHVFDQEHSRVLWLRQHGDVGHVLUHG
'RQRWPRYHWKHJODVVVKHOI
DERYHWKHYHJHWDEOHGUDZHUWR
HQVXUHFRUUHFWDLUFLUFXODWLRQ
9HJHWDEOHGUDZHU
7KHUHLVDVSHFLDOGUDZHULQWKHERWWRP
SDUWRIWKHDSSOLDQFHVXLWDEOHIRUVWRUDJH
RIIUXLWVDQGYHJHWDEOHV
)UHH]LQJIUHVKIRRG
7KHIUHH]HUFRPSDUWPHQWLVVXLWDEOHIRU
IUHH]LQJIUHVKIRRGDQGVWRULQJIUR]HQDQG
GHHSIUR]HQIRRGIRUDORQJWLPH
7RIUHH]HIUHVKIRRGDFWLYDWHWKH
)DVW)UHH]HIXQFWLRQDWOHDVWKRXUV
EHIRUHSODFLQJWKHIRRGWREHIUR]HQLQWKH
IUHH]HUFRPSDUWPHQW
6WRUHWKHIUHVKIRRGHYHQO\GLVWULEXWHGLQ
DOOFRPSDUWPHQWVRUGUDZHUV
7KHPD[LPXPDPRXQWRIIRRGWKDWFDQEH
IUR]HQZLWKRXWDGGLQJRWKHUIUHVKIRRG
GXULQJKRXUVLVVSHFLILHGRQWKHUDWLQJ
SODWHDODEHOORFDWHGLQVLGHWKH
DSSOLDQFH
:KHQWKHIUHH]LQJSURFHVVLVFRPSOHWH
WKHDSSOLDQFHDXWRPDWLFDOO\UHWXUQVWRWKH
SUHYLRXVWHPSHUDWXUHVHWWLQJVHH
)DVW)UHH]H)XQFWLRQ
,QWKLVFRQGLWLRQWKH
WHPSHUDWXUHLQVLGHWKH
UHIULJHUDWRUPLJKWFKDQJH
VOLJKWO\
6WRUDJHRIIUR]HQIRRG
:KHQDFWLYDWLQJDQDSSOLDQFHIRUWKHILUVW
WLPHRUDIWHUDSHULRGRXWRIXVHEHIRUH
SXWWLQJWKHSURGXFWVLQWKHFRPSDUWPHQW
OHWWKHDSSOLDQFHUXQDWOHDVWKRXUVZLWK
WKH)DVW)UHH]HIXQFWLRQVZLWFKHGRQ
.HHSWKHIRRGQRFORVHUWKDQPPIURP
WKHGRRU
10
&$87,21,QWKHHYHQWRI
DFFLGHQWDOGHIURVWLQJIRU
H[DPSOHGXHWRDSRZHUIDLOXUH
LIWKHSRZHUKDVEHHQRIIIRU
ORQJHUWKDQWKHYDOXHVKRZQRQ
UDWLQJSODWHXQGHUULVLQJWLPH
WKHGHIURVWHGIRRGPXVWEH
FRQVXPHGTXLFNO\RUFRRNHG
LPPHGLDWHO\WKHQFRROHGDQG
WKHQUHIUR]HQ
7KDZLQJ
'HHSIUR]HQRUIUR]HQIRRGSULRUWREHLQJ
FRQVXPHGFDQEHWKDZHGLQWKH
UHIULJHUDWRURULQVLGHDSODVWLFEDJXQGHU
FROGZDWHU
7KLVRSHUDWLRQGHSHQGVRQWKHWLPH
DYDLODEOHDQGRQWKHW\SHRIIRRG6PDOO
SLHFHVPD\HYHQEHFRRNHGVWLOOIUR]HQ
,FHFXEHSURGXFWLRQ
7KLVDSSOLDQFHLVHTXLSSHGZLWKRQHRU
PRUHWUD\VIRUWKHSURGXFWLRQRILFHFXEHV
'RQRWXVHPHWDOOLFLQVWUXPHQWV
WRUHPRYHWKHWUD\VIURPWKH
IUHH]HU
 )LOOWKHVHWUD\VZLWKZDWHU
 3XWWKHLFHWUD\VLQWKHIUHH]HU
FRPSDUWPHQW
+,176$1'7,36
+LQWVIRUHQHUJ\VDYLQJ
)ULGJH0RVWHIILFLHQWXVHRIHQHUJ\LV
HQVXUHGLQWKHFRQILJXUDWLRQZLWKWKH
GUDZHUVLQWKHERWWRPSDUWRIWKH
DSSOLDQFHDQGVKHOYHVHYHQO\
GLVWULEXWHG3RVLWLRQRIWKHGRRUELQV
GRHVQRWDIIHFWHQHUJ\FRQVXPSWLRQ
'RQRWRSHQWKHGRRUIUHTXHQWO\RU
OHDYHLWRSHQORQJHUWKDQQHFHVVDU\
)UHH]HU7KHFROGHUWKHWHPSHUDWXUH
VHWWLQJWKHKLJKHUWKHHQHUJ\
FRQVXPSWLRQ
)ULGJH'RQRWVHWWRRKLJKWHPSHUDWXUH
WRVDYHHQHUJ\XQOHVVLWLVUHTXLUHGE\
WKHFKDUDFWHULVWLFVRIWKHIRRG
,IWKHDPELHQWWHPSHUDWXUHLVKLJKDQG
WKHWHPSHUDWXUHFRQWUROLVVHWWRORZ
WHPSHUDWXUHDQGWKHDSSOLDQFHLVIXOO\
ORDGHGWKHFRPSUHVVRUPD\UXQ
FRQWLQXRXVO\FDXVLQJIURVWRULFH
IRUPDWLRQRQWKHHYDSRUDWRU,QWKLV
FDVHVHWWKHWHPSHUDWXUHFRQWURO
WRZDUGKLJKHUWHPSHUDWXUHWRDOORZ
DXWRPDWLFGHIURVWLQJDQGWRVDYH
HQHUJ\WKLVZD\
(QVXUHDJRRGYHQWLODWLRQ'RQRWFRYHU
WKHYHQWLODWLRQJULOOHVRUKROHV
+LQWVIRUIUHH]LQJ
$FWLYDWH)DVW)UHH]HIXQFWLRQDWOHDVW
KRXUVEHIRUHSODFLQJWKHIRRGLQVLGHWKH
IUHH]HUFRPSDUWPHQW
%HIRUHIUHH]LQJZUDSDQGVHDOIUHVK
IRRGLQDOXPLQLXPIRLOSODVWLFILOPRU
EDJVDLUWLJKWFRQWDLQHUVZLWKOLG
)RUPRUHHIILFLHQWIUHH]LQJDQGWKDZLQJ
GLYLGHIRRGLQWRVPDOOSRUWLRQV
,WLVUHFRPPHQGHGWRSXWODEHOVDQG
GDWHVRQDOO\RXUIUR]HQIRRG7KLVZLOO
KHOSWRLGHQWLI\IRRGVDQGWRNQRZZKHQ
WKH\VKRXOGEHXVHGEHIRUHWKHLU
GHWHULRUDWLRQ
7KHIRRGVKRXOGEHIUHVKZKHQEHLQJ
IUR]HQWRSUHVHUYHJRRGTXDOLW\
(VSHFLDOO\IUXLWVDQGYHJHWDEOHVVKRXOG
EHIUR]HQDIWHUWKHKDUYHVWWRSUHVHUYH
DOORIWKHLUQXWULHQWV
'RQRWIUHH]HERWWOHVRUFDQVZLWK
OLTXLGVLQSDUWLFXODUGULQNVFRQWDLQLQJ
FDUERQGLR[LGHWKH\PD\H[SORGH
GXULQJIUHH]LQJ
'RQRWSXWKRWIRRGLQWKHIUHH]HU
FRPSDUWPHQW&RROLWGRZQDWURRP
WHPSHUDWXUHEHIRUHSODFLQJLWLQVLGHWKH
FRPSDUWPHQW
7RDYRLGLQFUHDVHLQWHPSHUDWXUHRI
DOUHDG\IUR]HQIRRGGRQRWSODFHIUHVK
XQIUR]HQIRRGGLUHFWO\QH[WWRLW3ODFH
IRRGDWURRPWHPSHUDWXUHLQWKHSDUWRI
11
WKHIUHH]HUFRPSDUWPHQWZKHUHWKHUHLV
QRIUR]HQIRRG
'RQRWHDWLFHFXEHVZDWHULFHVRULFH
OROOLHVLPPHGLDWHO\DIWHUWDNLQJWKHPRXW
RIWKHIUHH]HU5LVNRIIURVWELWHV
'RQRWUHIUHH]HGHIURVWHGIRRG,IWKH
IRRGKDVGHIURVWHGFRRNLWFRROLWGRZQ
DQGWKHQIUHH]HLW
+LQWVIRUVWRUDJHRIIUR]HQIRRG
)UHH]HUFRPSDUWPHQWLVWKHRQH
PDUNHGZLWK
7KHPHGLXPWHPSHUDWXUHVHWWLQJ
HQVXUHVJRRGSUHVHUYDWLRQRIIUR]HQ
IRRGSURGXFWV
+LJKHUWHPSHUDWXUHVHWWLQJLQVLGHWKH
DSSOLDQFHPD\OHDGWRVKRUWHUVKHOIOLIH
7KHZKROHIUHH]HUFRPSDUWPHQWLV
VXLWDEOHIRUVWRUDJHRIIUR]HQIRRG
SURGXFWV
/HDYHHQRXJKVSDFHDURXQGWKHIRRG
WRDOORZDLUWRFLUFXODWHIUHHO\
)RUDGHTXDWHVWRUDJHUHIHUWRIRRG
SDFNDJLQJODEHOWRVHHWKHVKHOIOLIHRI
IRRG
,WLVLPSRUWDQWWRZUDSWKHIRRGLQVXFK
DZD\WKDWSUHYHQWVZDWHUKXPLGLW\RU
FRQGHQVDWLRQIURPJHWWLQJLQVLGH
6KRSSLQJWLSV
$IWHUJURFHU\VKRSSLQJ
(QVXUHWKDWWKHSDFNDJLQJLVQRW
GDPDJHGWKHIRRGFRXOGEH
GHWHULRUDWHG,IWKHSDFNDJHLVVZROOHQ
RUZHWLWPLJKWKDYHQRWEHHQVWRUHGLQ
WKHRSWLPDOFRQGLWLRQVDQGGHIURVWLQJ
PD\KDYHDOUHDG\VWDUWHG
7ROLPLWWKHGHIURVWLQJSURFHVVEX\
IUR]HQJRRGVDWWKHHQGRI\RXUJURFHU\
VKRSSLQJDQGWUDQVSRUWWKHPLQD
WKHUPDODQGLQVXODWHGFRROEDJ
3ODFHWKHIUR]HQIRRGVLPPHGLDWHO\LQ
WKHIUHH]HUDIWHUFRPLQJEDFNIURPWKH
VKRS
,IIRRGKDVGHIURVWHGHYHQSDUWLDOO\GR
QRWUHIUHH]HLW&RQVXPHLWDVVRRQDV
SRVVLEOH
5HVSHFWWKHH[SLU\GDWHDQGWKH
VWRUDJHLQIRUPDWLRQRQWKHSDFNDJH
6KHOIOLIHIRUIUHH]HUFRPSDUWPHQW
7\SHRIIRRG 6KHOIOLIHPRQWKV
%UHDG
)UXLWVH[FHSWFLWUXV 
9HJHWDEOHV 
/HIWRYHUVZLWKRXWPHDW 
'DLU\IRRG
%XWWHU
6RIWFKHHVHHJPR]]DUHOOD
+DUGFKHHVHHJSDUPHVDQFKHGGDU


6HDIRRG
)DWW\ILVKHJVDOPRQPDFNHUHO
/HDQILVKHJFRGIORXQGHU
6KULPSV
6KXFNHGFODPVDQGPXVVHOV
&RRNHGILVK





0HDW
12
7\SHRIIRRG 6KHOIOLIHPRQWKV
3RXOWU\
%HHI
3RUN
/DPE
6DXVDJH
+DP
/HIWRYHUVZLWKPHDW







+LQWVIRUIUHVKIRRGUHIULJHUDWLRQ
*RRGWHPSHUDWXUHVHWWLQJWKDWHQVXUHV
SUHVHUYDWLRQRIIUHVKIRRGLVD
WHPSHUDWXUHOHVVWKDQRUHTXDOWRr&
+LJKHUWHPSHUDWXUHVHWWLQJLQVLGHWKH
DSSOLDQFHPD\OHDGWRVKRUWHUVKHOIOLIH
RIIRRG
&RYHUWKHIRRGZLWKSDFNDJLQJWR
SUHVHUYHLWVIUHVKQHVVDQGDURPD
$OZD\VXVHFORVHGFRQWDLQHUVIRU
OLTXLGVDQGIRUIRRGWRDYRLGIODYRXUVRU
RGRXUVLQWKHFRPSDUWPHQW
7RDYRLGWKHFURVVFRQWDPLQDWLRQ
EHWZHHQFRRNHGDQGUDZIRRGFRYHU
WKHFRRNHGIRRGDQGVHSDUDWHLWIURP
WKHUDZRQH
,WLVUHFRPPHQGHGWRGHIURVWWKHIRRG
LQVLGHWKHIULGJH
'RQRWLQVHUWKRWIRRGLQVLGHWKH
DSSOLDQFH0DNHVXUHLWKDVFRROHG
GRZQDWURRPWHPSHUDWXUHEHIRUH
LQVHUWLQJLW
7RSUHYHQWIRRGZDVWHWKHQHZVWRFNRI
IRRGVKRXOGDOZD\VEHSODFHGEHKLQG
WKHROGRQH
+LQWVIRUIRRGUHIULJHUDWLRQ
)UHVKIRRGFRPSDUWPHQWLVWKHRQH
PDUNHGRQWKHUDWLQJSODWHZLWK

0HDWDOOW\SHVZUDSLQDVXLWDEOH
SDFNDJLQJDQGSODFHLWRQWKHJODVV
VKHOIDERYHWKHYHJHWDEOHGUDZHU
6WRUHPHDWIRUDWPRVWGD\V
)UXLWDQGYHJHWDEOHVFOHDQWKRURXJKO\
HOLPLQDWHWKHVRLODQGSODFHLQD
VSHFLDOGUDZHUYHJHWDEOHGUDZHU
,WLVDGYLVDEOHQRWWRNHHSWKHH[RWLF
IUXLWVOLNHEDQDQDVPDQJRVSDSD\DV
HWFLQWKHUHIULJHUDWRU
9HJHWDEOHVOLNHWRPDWRHVSRWDWRHV
RQLRQVDQGJDUOLFVKRXOGQRWEHNHSWLQ
WKHUHIULJHUDWRU
%XWWHUDQGFKHHVHSODFHLQDQDLUWLJKW
FRQWDLQHURUZUDSLQDQDOXPLQLXPIRLO
RUDSRO\WKHQHEDJWRH[FOXGHDVPXFK
DLUDVSRVVLEOH
%RWWOHVFORVHWKHPZLWKDFDSDQG
SODFHWKHPRQWKHGRRUERWWOHVKHOIRU
LIDYDLODEOHRQWKHERWWOHUDFN
$OZD\VUHIHUWRWKHH[SLU\GDWHRIWKH
SURGXFWVWRNQRZKRZORQJWRNHHS
WKHP
&$5($1'&/($1,1*
:$51,1*5HIHUWR6DIHW\
FKDSWHUV
&OHDQLQJWKHLQWHULRU
%HIRUHXVLQJWKHDSSOLDQFHIRUWKHILUVW
WLPHWKHLQWHULRUDQGDOOLQWHUQDO
DFFHVVRULHVVKRXOGEHZDVKHGZLWK
OXNHZDUPZDWHUDQGVRPHQHXWUDOVRDSWR
13
UHPRYHWKHW\SLFDOVPHOORIDEUDQGQHZ
SURGXFWWKHQGULHGWKRURXJKO\
&$87,21'RQRWXVH
GHWHUJHQWVDEUDVLYHSRZGHUV
FKORULQHRURLOEDVHGFOHDQHUV
DVWKH\ZLOOGDPDJHWKHILQLVK
&$87,217KHDFFHVVRULHV
DQGSDUWVRIWKHDSSOLDQFHDUH
QRWVXLWDEOHIRUZDVKLQJLQD
GLVKZDVKHU
3HULRGLFFOHDQLQJ
7KHHTXLSPHQWKDVWREHFOHDQHG
UHJXODUO\
 &OHDQWKHLQVLGHDQGDFFHVVRULHVZLWK
OXNHZDUPZDWHUDQGVRPHQHXWUDO
VRDS
 5HJXODUO\FKHFNWKHGRRUVHDOVDQG
ZLSHWKHPFOHDQWRHQVXUHWKH\DUH
FOHDQDQGIUHHIURPGHEULV
 5LQVHDQGGU\WKRURXJKO\
'HIURVWLQJRIWKHUHIULJHUDWRU
)URVWLVDXWRPDWLFDOO\HOLPLQDWHGIURPWKH
HYDSRUDWRURIWKHUHIULJHUDWRUFRPSDUWPHQW
GXULQJQRUPDOXVH7KHGHIURVWZDWHU
GUDLQVRXWWKURXJKDWURXJKLQWRDVSHFLDO
FRQWDLQHUDWWKHEDFNRIWKHDSSOLDQFH
RYHUWKHPRWRUFRPSUHVVRUZKHUHLW
HYDSRUDWHV
,WLVLPSRUWDQWWRSHULRGLFDOO\FOHDQWKH
GHIURVWZDWHUGUDLQKROHLQWKHPLGGOHRI
WKHUHIULJHUDWRUFRPSDUWPHQWFKDQQHOWR
SUHYHQWWKHZDWHURYHUIORZLQJDQGGULSSLQJ
RQWRWKHIRRGLQVLGH
)RUWKLVSXUSRVHXVHWKHWXEHFOHDQHU
SURYLGHGZLWKWKHDSSOLDQFH
'HIURVWLQJRIWKHIUHH]HU
&$87,211HYHUXVHVKDUS
PHWDOWRROVWRVFUDSHRIIIURVW
IURPWKHHYDSRUDWRUDV\RX
FRXOGGDPDJHLW
'RQRWXVHDPHFKDQLFDO
GHYLFHRUDQ\DUWLILFLDOPHDQVWR
VSHHGXSWKHWKDZLQJSURFHVV
RWKHUWKDQWKRVHUHFRPPHQGHG
E\WKHPDQXIDFWXUHU
$ERXWKRXUVSULRUWR
GHIURVWLQJVHWDORZHU
WHPSHUDWXUHLQRUGHUWREXLOGXS
VXIILFLHQWFKLOOUHVHUYHLQFDVH
RIDQ\LQWHUUXSWLRQLQRSHUDWLRQ
$FHUWDLQDPRXQWRIIURVWZLOODOZD\VIRUP
RQWKHIUHH]HUVKHOYHVDQGDURXQGWKHWRS
FRPSDUWPHQW
'HIURVWWKHIUHH]HUZKHQWKHIURVWOD\HU
UHDFKHVDWKLFNQHVVRIDERXWPP
 6ZLWFKRIIWKHDSSOLDQFHRUSXOORXW
HOHFWULFDOSOXJIURPWKHZDOOVRFNHW
 5HPRYHDQ\VWRUHGIRRGDQGSXWLWLQD
FRROSODFH
&$87,21$WHPSHUDWXUH
ULVHRIWKHIUR]HQIRRG
SDFNVGXULQJGHIURVWLQJ
PD\VKRUWHQWKHLUVDIH
VWRUDJHOLIH
'RQRWWRXFKIUR]HQJRRGV
ZLWKZHWKDQGV+DQGVFDQ
IUHH]HWRWKHJRRGV
 /HDYHWKHGRRURSHQ3URWHFWWKHIORRU
IURPWKHGHIURVWLQJZDWHUHJZLWKD
FORWKRUDIODWYHVVHO
 ,QRUGHUWRVSHHGXSWKHGHIURVWLQJ
SURFHVVSODFHDSRWRIZDUPZDWHULQ
WKHIUHH]HUFRPSDUWPHQW,QDGGLWLRQ
UHPRYHSLHFHVRILFHWKDWEUHDNDZD\
EHIRUHGHIURVWLQJLVFRPSOHWH
 :KHQGHIURVWLQJLVFRPSOHWHGU\WKH
LQWHULRUWKRURXJKO\
 6ZLWFKRQWKHDSSOLDQFHDQGFORVHWKH
GRRU
 6HWWKHWHPSHUDWXUHUHJXODWRUWRREWDLQ
WKHPD[LPXPFROGQHVVDQGUXQWKH
DSSOLDQFHIRUDWOHDVWKRXUVXVLQJ
WKLVVHWWLQJ
14
2QO\DIWHUWKLVWLPHSXWWKHIRRGEDFNLQWR
WKHIUHH]HUFRPSDUWPHQW
3HULRGRIQRQRSHUDWLRQ
:KHQWKHDSSOLDQFHLVQRWLQXVHIRUORQJ
SHULRGWDNHWKHIROORZLQJSUHFDXWLRQV
 'LVFRQQHFWWKHDSSOLDQFHIURP
HOHFWULFLW\VXSSO\
 5HPRYHDOOIRRG
 'HIURVWWKHDSSOLDQFH
 &OHDQWKHDSSOLDQFHDQGDOO
DFFHVVRULHV
 /HDYHWKHGRRUVRSHQWRSUHYHQW
XQSOHDVDQWVPHOOV
7528%/(6+227,1*
:$51,1*5HIHUWR6DIHW\
FKDSWHUV
:KDWWRGRLI
3UREOHP 3RVVLEOHFDXVH 6ROXWLRQ
7KHDSSOLDQFHGRHVQRWRSಣ
HUDWH
7KHDSSOLDQFHLVVZLWFKHG
RII
6ZLWFKRQWKHDSSOLDQFH
7KHPDLQVSOXJLVQRWFRQಣ
QHFWHGWRWKHPDLQVVRFNHW
FRUUHFWO\
&RQQHFWWKHPDLQVSOXJWR
WKHPDLQVVRFNHWFRUUHFWO\
7KHUHLVQRYROWDJHLQWKH
PDLQVVRFNHW
&RQQHFWDGLIIHUHQWHOHFWULFDO
DSSOLDQFHWRWKHPDLQVVRFNಣ
HW&RQWDFWDTXDOLILHGHOHFಣ
WULFLDQ
7KHDSSOLDQFHLVQRLV\ 7KHDSSOLDQFHLVQRWVXSSRUಣ
WHGSURSHUO\
&KHFNLIWKHDSSOLDQFH
VWDQGVVWDEOH
$FRXVWLFRUYLVXDODODUPLV
RQ
7KHFDELQHWKDVEHHQUHಣ
FHQWO\VZLWFKHGRQ
5HIHUWR'RRU2SHQ$ODUP
RU+LJK7HPSHUDWXUH
$ODUP
7KHWHPSHUDWXUHLQWKHDSಣ
SOLDQFHLVWRRKLJK
5HIHUWR'RRU2SHQ$ODUP
RU+LJK7HPSHUDWXUH
$ODUP
7KHGRRULVOHIWRSHQ &ORVHWKHGRRU
7KHFRPSUHVVRURSHUDWHV
FRQWLQXDOO\
7HPSHUDWXUHLVVHWLQFRUಣ
UHFWO\
5HIHUWR&RQWURO3DQHO
FKDSWHU
0DQ\IRRGSURGXFWVZHUH
SXWLQDWWKHVDPHWLPH
:DLWDIHZKRXUVDQGWKHQ
FKHFNWKHWHPSHUDWXUH
DJDLQ
7KHURRPWHPSHUDWXUHLVWRR
KLJK
5HIHUWR,QVWDOODWLRQFKDSಣ
WHU
15
3UREOHP 3RVVLEOHFDXVH 6ROXWLRQ
)RRGSURGXFWVSODFHGLQWKH
DSSOLDQFHZHUHWRRZDUP
$OORZIRRGSURGXFWVWRFRRO
WRURRPWHPSHUDWXUHEHIRUH
VWRULQJ
7KHGRRULVQRWFORVHGFRUಣ
UHFWO\
5HIHUWR&ORVLQJWKHGRRU
VHFWLRQ
7KH)DVW)UHH]HIXQFWLRQLV
VZLWFKHGRQ
5HIHUWR)DVW)UHH]HIXQFಣ
WLRQVHFWLRQ
7KHFRPSUHVVRUGRHVQRW
VWDUWLPPHGLDWHO\DIWHU
SUHVVLQJWKH)DVW)UHH]H
RUDIWHUFKDQJLQJWKHWHPಣ
SHUDWXUH
7KHFRPSUHVVRUVWDUWVDIWHU
DSHULRGRIWLPH
7KLVLVQRUPDOQRHUURUKDV
RFFXUUHG
'RRULVPLVDOLJQHGRULQWHUಣ
IHUHVZLWKYHQWLODWLRQJULOO
7KHDSSOLDQFHLVQRWOHYHOಣ
OHG
5HIHUWRLQVWDOODWLRQLQVWUXFಣ
WLRQV
'RRUGRHVQRWRSHQHDVLO\ <RXDWWHPSWHGWRUHRSHQ
WKHGRRULPPHGLDWHO\DIWHU
FORVLQJ
:DLWDIHZVHFRQGVEHWZHHQ
FORVLQJDQGUHRSHQLQJRI
WKHGRRU
7KHODPSGRHVQRWZRUN 7KHODPSLVLQVWDQGE\
PRGH
&ORVHDQGRSHQWKHGRRU
7KHODPSLVGHIHFWLYH &RQWDFWWKHQHDUHVW$XWKRUಣ
L]HG6HUYLFH&HQWUH
7KHUHLVWRRPXFKIURVWDQG
LFH
7KHGRRULVQRWFORVHGFRUಣ
UHFWO\
5HIHUWR&ORVLQJWKHGRRU
VHFWLRQ
7KHJDVNHWLVGHIRUPHGRU
GLUW\
5HIHUWR&ORVLQJWKHGRRU
VHFWLRQ
)RRGSURGXFWVDUHQRWZUDSಣ
SHGSURSHUO\
:UDSWKHIRRGSURGXFWVEHWಣ
WHU
7HPSHUDWXUHLVVHWLQFRUಣ
UHFWO\
5HIHUWR&RQWURO3DQHO
FKDSWHU
$SSOLDQFHLVIXOO\ORDGHGDQG
LVVHWWRWKHORZHVWWHPSHUDಣ
WXUH
6HWDKLJKHUWHPSHUDWXUH
5HIHUWR&RQWURO3DQHO
FKDSWHU
7HPSHUDWXUHVHWLQWKHDSಣ
SOLDQFHLVWRRORZDQGWKH
DPELHQWWHPSHUDWXUHLVWRR
KLJK
6HWDKLJKHUWHPSHUDWXUH
5HIHUWR&RQWURO3DQHO
FKDSWHU
:DWHUIORZVRQWKHUHDUSODWH
RIWKHUHIULJHUDWRU
'XULQJWKHDXWRPDWLFGHಣ
IURVWLQJSURFHVVIURVWPHOWV
RQWKHUHDUSODWH
7KLVLVFRUUHFW
16
3UREOHP 3RVVLEOHFDXVH 6ROXWLRQ
7KHUHLVWRRPXFKFRQಣ
GHQVHGZDWHURQWKHUHDU
ZDOORIWKHUHIULJHUDWRU
'RRUZDVRSHQHGWRRIUHಣ
TXHQWO\
2SHQWKHGRRURQO\ZKHQ
QHFHVVDU\
'RRUZDVQRWFORVHGFRPಣ
SOHWHO\
0DNHVXUHWKHGRRULV
FORVHGFRPSOHWHO\
6WRUHGIRRGZDVQRWZUDSಣ
SHG
:UDSIRRGLQVXLWDEOHSDFNಣ
DJLQJEHIRUHVWRULQJLWLQWKH
DSSOLDQFH
:DWHUIORZVLQVLGHWKHUHIULJಣ
HUDWRU
)RRGSURGXFWVSUHYHQWWKH
ZDWHUIURPIORZLQJLQWRWKH
ZDWHUFROOHFWRU
0DNHVXUHWKDWIRRGSURGಣ
XFWVGRQRWWRXFKWKHUHDU
SODWH
7KHZDWHURXWOHWLVFORJJHG &OHDQWKHZDWHURXWOHW
:DWHUIORZVRQWKHIORRU 7KHPHOWLQJZDWHURXWOHWLV
QRWFRQQHFWHGWRWKHHYDSRಣ
UDWLYHWUD\DERYHWKHFRPಣ
SUHVVRU
$WWDFKWKHPHOWLQJZDWHURXWಣ
OHWWRWKHHYDSRUDWLYHWUD\
7HPSHUDWXUHFDQQRWEHVHW 7KH)DVW)UHH]HIXQFWLRQLV
VZLWFKHGRQ
6ZLWFKRII)DVW)UHH]HIXQFಣ
WLRQPDQXDOO\RUZDLWXQWLO
WKHIXQFWLRQGHDFWLYDWHVDXಣ
WRPDWLFDOO\WRVHWWKHWHPಣ
SHUDWXUH5HIHUWR)DVWಣ
)UHH]HIXQFWLRQVHFWLRQ
7KHWHPSHUDWXUHLQWKHDSಣ
SOLDQFHLVWRRORZWRRKLJK
7KHWHPSHUDWXUHLVQRWVHW
FRUUHFWO\
6HWDKLJKHUORZHUWHPSHUDಣ
WXUH
7KHGRRULVQRWFORVHGFRUಣ
UHFWO\
5HIHUWR&ORVLQJWKHGRRU
VHFWLRQ
7KHIRRGSURGXFWVWHPSHUDಣ
WXUHLVWRRKLJK
/HWWKHIRRGSURGXFWVWHPಣ
SHUDWXUHGHFUHDVHWRURRP
WHPSHUDWXUHEHIRUHVWRUDJH
0DQ\IRRGSURGXFWVDUH
VWRUHGDWWKHVDPHWLPH
6WRUHOHVVIRRGSURGXFWVDW
WKHVDPHWLPH
7KHWKLFNQHVVRIWKHIURVWLV
JUHDWHUWKDQPP
'HIURVWWKHDSSOLDQFH
7KHGRRUKDVEHHQRSHQHG
RIWHQ
2SHQWKHGRRURQO\LIQHFHVಣ
VDU\
7KH)DVW)UHH]HIXQFWLRQLV
VZLWFKHGRQ
5HIHUWR)DVW)UHH]HIXQFಣ
WLRQVHFWLRQ
17
3UREOHP 3RVVLEOHFDXVH 6ROXWLRQ
7KHUHLVQRFROGDLUFLUFXODಣ
WLRQLQWKHDSSOLDQFH
0DNHVXUHWKDWWKHUHLVFROG
DLUFLUFXODWLRQLQWKHDSSOLಣ
DQFH5HIHUWR+LQWVDQG
7LSVFKDSWHU
6RPHVSHFLILFVXUIDFHVLQಣ
VLGHWKHIULGJHFRPSDUWPHQW
DUHZDUPHUDWVRPHWLPHV
7KLVLVDQRUPDOVWDWH
7HPSHUDWXUHVHWWLQJ/('V
IODVKDWWKHVDPHWLPH
$QHUURUKDVRFFXUUHGLQ
PHDVXULQJWKHWHPSHUDWXUH
&RQWDFWWKHQHDUHVW$XWKRUಣ
LVHG6HUYLFH&HQWUH7KH
FRROLQJV\VWHPZLOOFRQWLQXH
WRNHHSIRRGSURGXFWVFROG
EXWWHPSHUDWXUHDGMXVWPHQW
ZLOOQRWEHSRVVLEOH
,IWKHDGYLFHGRHVQRWOHDGWR
WKHGHVLUHGUHVXOWFDOOWKH
QHDUHVW$XWKRUL]HG6HUYLFH
&HQWUH
5HSODFLQJWKHODPS
7KHDSSOLDQFHLVHTXLSSHGZLWKDORQJOLIH
/('LQWHULRUOLJKW
2QO\VHUYLFHLVDOORZHGWRUHSODFHWKH
OLJKWLQJGHYLFH&RQWDFW\RXU$XWKRULVHG
6HUYLFH&HQWUH
&ORVLQJWKHGRRU
 &OHDQWKHGRRUJDVNHWV
 ,IQHFHVVDU\DGMXVWWKHGRRU5HIHUWR
LQVWDOODWLRQLQVWUXFWLRQV
 ,IQHFHVVDU\UHSODFHWKHGHIHFWLYH
GRRUJDVNHWV&RQWDFWWKH$XWKRULVHG
6HUYLFH&HQWUH
18
12,6(6
SSSRRR!
CLICK!
HISSS!
BRRR!
BLUBB!
7(&+1,&$/'$7$
7KHWHFKQLFDOLQIRUPDWLRQLVVLWXDWHGLQWKH
UDWLQJSODWHRQWKHLQWHUQDOVLGHRIWKH
DSSOLDQFHDQGRQWKHHQHUJ\ODEHO
9ROWDJH )UHTXHQF\
a9 +]
,1)250$7,21)257(67,167,787(6
,QVWDOODWLRQDQGSUHSDUDWLRQRIWKH
DSSOLDQFHIRUDQ\(FR'HVLJQYHULILFDWLRQ
VKDOOEHFRPSOLDQWZLWK(1
9HQWLODWLRQUHTXLUHPHQWVUHFHVV
GLPHQVLRQVDQGPLQLPXPUHDUFOHDUDQFHV
VKDOOEHDVVWDWHGLQWKLV8VHU0DQXDODW
&KDSWHU3OHDVHFRQWDFWWKH
PDQXIDFWXUHUIRUDQ\RWKHUIXUWKHU
LQIRUPDWLRQLQFOXGLQJORDGLQJSODQV
:$55$17<&86720(56(59,&(
)RUHDFKSURGXFWZHSURYLGHDWZR\HDU
JXDUDQWHHIURPWKHGDWHRISXUFKDVHRU
GHOLYHU\WRWKHFRQVXPHUZLWKD
JXDUDQWHHFHUWLILFDWHLQYRLFHRUVDOHV
UHFHLSWVHUYLQJDVSURRI
7KHJXDUDQWHHFRYHUVWKHFRVWVRI
PDWHULDOVODERXUDQGWUDYHO7KH
JXDUDQWHHZLOOODSVHLIWKHRSHUDWLQJ
LQVWUXFWLRQVDQGFRQGLWLRQVRIXVHDUHQRW
DGKHUHGWRLIWKHSURGXFWLVLQFRUUHFWO\
19
LQVWDOOHGRULQWKHHYHQWRIGDPDJH
FDXVHGE\H[WHUQDOLQIOXHQFHVIRUFH
PDMHXUHLQWHUYHQWLRQE\WKLUGSDUWLHVRU
WKHXVHRIQRQJHQXLQHFRPSRQHQWV
&21',7,216'(*$5$17,(6(59,&(
1RXVRFWUR\RQVVXUFKDTXHSURGXLWDQV
GHJDUDQWLH¢SDUWLUGHODGDWHGHOLYUDLVRQ
RXGHODPLVHHQVHUYLFHDX
FRQVRPPDWHXUGRFXPHQW«DXPR\HQ
GಬXQHIDFWXUHGಬXQERQGHJDUDQWLHRX
GಬXQMXVWLILFDWLIGಬDFKDW1RWUHJDUDQWLH
FRXYUHOHVIUDLVGHPDLQVGಬRHXYUHVHWGH
G«SODFHPHQWDLQVLTXHOHVSLªFHVGH
UHFKDQJH
/HVFRQGLWLRQVGHJDUDQWLHQHVRQWSDV
YDODEOHVHQFDVGಬLQWHUYHQWLRQGಬXQWLHUV
QRQDXWRULV«GHOಬHPSORLGHSLªFHVGH
UHFKDQJHQRQRULJLQDOHVGಬHUUHXUVGH
PDQLHPHQWRXGಬLQVWDOODWLRQGXHV¢
OಬLQREVHUYDWLRQGXPRGHGಬHPSORLHWSRXU
GHVGRPPDJHVFDXV«VSDUGHVLQIOXHQFHV
H[W«ULHXUHVRXGHIRUFHPDMHXUH
*$5$17,(%(',1*81*(1.81'(1',(167
)¾UMHGHV3URGXNWJHZ¦KUHQ:LUDE
9HUNDXIE]Z/LHIHUGDWXPDQGHQ
(QGYHUEUDXFKHUHLQH*DUDQWLHYRQ
-DKUHQ$XVZHLVGXUFK*DUDQWLHVFKHLQ
)DNWXUDRGHU9HUNDXIVEHOHJ
'LH*DUDQWLHOHLVWXQJXPIDVVWGLH.RVWHQ
I¾U0DWHULDO$UEHLWVXQG5HLVH]HLW
'LH*DUDQWLHOHLVWXQJHQWI¦OOWEHL
1LFKWEHDFKWXQJGHU*HEUDXFKVDQZHLVXQJ
XQG%HWULHEVYRUVFKULIWHQXQVDFKJHUHFKWHU
,QVWDOODWLRQVRZLHEHL%HVFK¦GLJXQJ
GXUFK¦XVVHUH(LQIO¾VVHK¸KHUH*HZDOW
(LQJULIIH'ULWWHUXQG9HUZHQGXQJYRQ
1LFKW2ULJLQDO7HLOHQ
&21',=,21,',*$5$1=,$6(59,=,2&/,(17(/$
3HURJQLSURGRWWRFRQFHGLDPRXQD
JDUDQ]LDGLDQQLDSDUWLUHGDOODGDWDGL
FRQVHJQDRGDOODVXDPHVVDLQIXQ]LRQH
)DVWDWRODGDWDGHOODIDWWXUDGHO
FHUWLILFDWRGLJDUDQ]LDRGHOORVFRQWULQR
GಬDFTXLVWR1HOODJDUDQ]LDVRQRFRPSUHVH
OHVSHVHGLPDQRGRSHUDGLYLDJJLRHGHO
PDWHULDOH
'DOODFRSHUWXUDVRQRHVFOXVLLO
ORJRUDPHQWRHGLGDQQLFDXVDWLGDDJHQWL
HVWHUQLLQWHUYHQWRGLWHU]LXWLOL]]RGL
ULFDPELQRQRULJLQDOLRGDOODLQRVVHUYDQ]D
GHOOHSUHVFUL]LRQLGಬLVWDOOD]LRQHHG
LVWUX]LRQLSHUOಬXVR
(19,5210(17$/&21&(516
5HF\FOHPDWHULDOVZLWKWKHV\PERO 3XW
WKHSDFNDJLQJLQUHOHYDQWFRQWDLQHUVWR
UHF\FOHLW+HOSSURWHFWWKHHQYLURQPHQW
DQGKXPDQKHDOWKE\UHF\FOLQJZDVWHRI
HOHFWULFDODQGHOHFWURQLFDSSOLDQFHV'R
QRWGLVSRVHRIDSSOLDQFHVPDUNHGZLWKWKH
V\PERO
ZLWKWKHKRXVHKROGZDVWH
5HWXUQWKHSURGXFWWR\RXUORFDOUHF\FOLQJ
IDFLOLW\RUFRQWDFW\RXUPXQLFLSDORIILFH
)RU6ZLW]HUODQG
:KHUHVKRXOG\RXWDNH\RXU
ROGHTXLSPHQW"
$Q\ZKHUHWKDWVHOOVQHZ
HTXLSPHQWRUKDQGLWLQWR
RIILFLDO6(16FROOHFWLRQSRLQWV
RURIILFLDO6(16UHF\FOLQJILUPV
7KHOLVWRIRIILFLDO6(16
FROOHFWLRQSRLQWVFDQEHIRXQG
DWZZZHUHF\FOLQJFK
20
,1+$/769(5=(,&+1,6
6LFKHUKHLWVKLQZHLVH 
6LFKHUKHLWVDQZHLVXQJHQ 
0RQWDJH 
%HGLHQIHOG 
7¦JOLFKHU*HEUDXFK 
7LSSVXQG+LQZHLVH 
5HLQLJXQJXQG3IOHJH 
)HKOHUVXFKH 
*HU¦XVFKH 
7HFKQLVFKH'DWHQ 
,QIRUPDWLRQHQI¾U3U¾ILQVWLWXWH 
QGHUXQJHQYRUEHKDOWHQ
%(68&+(16,(816(5(:(%6,7(80
$QZHQGXQJVKLQZHLVH3URVSHNWH,QIRUPDWLRQHQ]X)HKOHUEHKHEXQJ
6HUYLFHXQG5HSDUDWXU]XHUKDOWHQ
KWWSVZZZIXVWFKUHSDUDWXU
6,&+(5+(,76+,1:(,6(
/HVHQ6LHYRUGHU0RQWDJHXQGGHP*HEUDXFKGHV*HU¦WV
]XHUVWGLH%HGLHQXQJVDQOHLWXQJ%HL9HUOHW]XQJHQRGHU
6FK¦GHQLQIROJHQLFKWRUGQXQJVJHP¦¡HU0RQWDJHRGHU
9HUZHQGXQJ¾EHUQLPPWGHU+HUVWHOOHUNHLQH+DIWXQJ
%HZDKUHQ6LHGLH$QOHLWXQJ]XP1DFKVFKODJHQDQHLQHP
VLFKHUHQXQG]XJ¦QJOLFKHQ2UWDXI
6LFKHUKHLWYRQ.LQGHUQXQGVFKXW]EHG¾UIWLJHQ
3HUVRQHQ
'DV*HU¦WNDQQYRQ.LQGHUQDE-DKUHQXQG3HUVRQHQ
PLWHLQJHVFKU¦QNWHQSK\VLVFKHQVHQVRULVFKHQRGHU
JHLVWLJHQ)¦KLJNHLWHQRGHUPLWPDQJHOQGHU(UIDKUXQJXQG
RGHUPDQJHOQGHP:LVVHQQXUGDQQYHUZHQGHWZHUGHQ
ZHQQVLHGXUFKHLQHI¾ULKUH6LFKHUKHLW]XVW¦QGLJH3HUVRQ
EHDXIVLFKWLJWZHUGHQRGHULQGLHVLFKHUH9HUZHQGXQJGHV
*HU¦WVHLQJHZLHVHQZXUGHQXQGGLHPLWGHP*HU¦W
YHUEXQGHQHQ*HIDKUHQYHUVWDQGHQKDEHQ
.LQGHU]ZLVFKHQXQG-DKUHQG¾UIHQGDV*HU¦WEHXQG
HQWODGHQYRUDXVJHVHW]WVLHZXUGHQRUGQXQJVJHP¦¡
HLQJHZLHVHQ
'LHVHV*HU¦WNDQQYRQ3HUVRQHQPLWVFKZHUHQXQG
NRPSOH[HQ%HKLQGHUXQJHQEHQXW]WZHUGHQYRUDXVJHVHW]W
VLHZXUGHQRUGQXQJVJHP¦¡HLQJHZLHVHQ
/