ECA1HHG220B

Aluminum Electrolytic Capacitors This Series is no longer available for purchase in the country of Japan. Radial Lead Type NHG series A type Features ● Endurance : 105 ℃ 2000 h ● AEC-Q200 compliant ● RoHS compliant Specifications Category temp. range Rated voltage range Capacitance range Capacitance tolerance –55 ℃ to +105 ℃ 6.3 V to 100 V 2.2 μF to 22000 μF –25 ℃ to +105 ℃ 160 V to 450 V 2.2 μF to 330 μF ±20 % (120 Hz / +20℃) I ≦ 0.01 CV or 3 (μA) After 2 minutes Leakage current I ≦ 0.06 CV + 10 (μA) After 2 minutes (Which is greater) Dissipation factor（tan δ) Please see the attached characteristics list After following life test with DC voltage and +105 ℃±2 ℃ ripple current value applied (The sum of DC and ripple peak voltage shall not exceed the rated working voltage) for 2000 h, when the capacitors are restored to 20 ℃, the capacitors shall meet the limits specified bellow. 6.3 V to 100 V : φ5 to φ8 / 1000 h, φ10 to φ18 / 2000 h Endurance 160 V to 450 V : 2000 h Capacitance change Within ±20 % of the initial value Dissipation factor（tan δ) ≦ 200 % of the initial limit DC leakage current Within the initial limit After storage for 1000 h at +105 ℃±2 ℃ with no voltage applied and then being Shelf life stabilized at +20 °C, capacitors shall meet the limits specified in endurance. (With voltage treatment) Frequency correction factor for ripple current Rated voltage (V) 6.3 to 100 160 to 450 Capacitance (μF) 2.2 to 33 47 to 470 1000 to 22000 2.2 to 330 60 0.75 0.80 0.85 0.80 120 1.00 1.00 1.00 1.00 Frequency (Hz) 1k 1.55 1.35 1.10 1.35 10 k 1.80 1.50 1.15 1.50 100 k 2.00 1.50 1.15 1.50 φd±0.05 Dimensions Pressure relief φ6.3≦ ≦φ8 14min. L* φ10 ≦ F±0.5 Sleeve 3min. φD±0.5 * L ≦ 16：L±1.0 φD±0.5 L ≧ 20：L±2.0 φD φd F 5 0.5 2.0 6.3 0.5 2.5 8 0.6 3.5 10 0.6 5.0 12.5 0.6 5.0 16 0.8 7.5 Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. Unit：mm 18 0.8 7.5 20-Dec-19 Aluminum Electrolytic Capacitors (Radial Lead Type) NHG series Characteristics list Endurance : 105 ℃ 2000 h Case size Rated voltage (V) 6.3 10 16 25 35 Capacitance (±20 %) (μF) 100 220 470 1000 2200 3300 4700 6800 10000 15000 22000 330 470 1000 2200 3300 4700 6800 10000 15000 100 220 330 470 1000 2200 3300 4700 6800 10000 47 100 220 330 470 1000 2200 3300 4700 6800 47 100 220 330 470 1000 2200 3300 4700 (ｍｍ) φD 5.0 5.0 6.3 8.0 10.0 10.0 12.5 12.5 16.0 16.0 18.0 6.3 8.0 10.0 10.0 12.5 12.5 16.0 16.0 18.0 5.0 6.3 8.0 8.0 10.0 12.5 12.5 16.0 16.0 18.0 5.0 6.3 8.0 8.0 10.0 10.0 12.5 16.0 16.0 18.0 5.0 6.3 8.0 10.0 10.0 12.5 16.0 16.0 18.0 L 11.0 11.0 11.2 11.5 16.0 20.0 20.0 25.0 25.0 31.5 35.5 11.2 11.5 12.5 20.0 20.0 25.0 25.0 31.5 35.5 11.0 11.2 11.5 11.5 16.0 20.0 25.0 25.0 31.5 35.5 11.0 11.2 11.5 11.5 12.5 20.0 25.0 25.0 31.5 35.5 11.0 11.2 11.5 12.5 16.0 20.0 25.0 31.5 35.5 Specification Ripple *1 current tan δ*2 (mA rms) (Ω) 91 140 230 380 710 840 1090 1350 1650 2010 2350 200 250 460 760 1000 1260 1570 1890 2180 110 180 260 310 560 920 1170 1480 1780 2060 91 130 230 310 380 680 1090 1400 1750 2040 90 150 270 350 460 810 1260 1610 1910 0.28 0.28 0.28 0.28 0.30 0.32 0.34 0.38 0.46 0.56 0.70 0.24 0.24 0.24 0.26 0.28 0.30 0.34 0.42 0.52 0.20 0.20 0.20 0.20 0.20 0.22 0.24 0.26 0.30 0.38 0.16 0.16 0.16 0.16 0.16 0.16 0.18 0.20 0.22 0.26 0.14 0.14 0.14 0.14 0.14 0.14 0.16 0.18 0.20 Min. Packaging Q'ty (PCS) Lead length (mm) Endurance Lead dia. 1000 1000 1000 1000 2000 2000 2000 2000 2000 2000 2000 1000 1000 2000 2000 2000 2000 2000 2000 2000 1000 1000 1000 1000 2000 2000 2000 2000 2000 2000 1000 1000 1000 1000 2000 2000 2000 2000 2000 2000 1000 1000 1000 2000 2000 2000 2000 2000 2000 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.8 0.8 0.8 0.5 0.6 0.6 0.6 0.6 0.6 0.8 0.8 0.8 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.8 0.8 0.8 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.8 0.8 0.8 0.5 0.5 0.6 0.6 0.6 0.6 0.8 0.8 0.8 (h) (φd) Part No. Lead space Straight Taping ✽B Taping ✽i 2.0 2.0 2.5 3.5 5.0 5.0 5.0 5.0 7.5 7.5 7.5 2.5 3.5 5.0 5.0 5.0 5.0 7.5 7.5 7.5 2.0 2.5 3.5 3.5 5.0 5.0 5.0 7.5 7.5 7.5 2.0 2.5 3.5 3.5 5.0 5.0 5.0 7.5 7.5 7.5 2.0 2.5 3.5 5.0 5.0 5.0 7.5 7.5 7.5 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 7.5 ― ― 5.0 5.0 5.0 5.0 5.0 5.0 7.5 ― ― 5.0 5.0 5.0 5.0 5.0 5.0 5.0 7.5 ― ― 5.0 5.0 5.0 5.0 5.0 5.0 5.0 7.5 ― ― 5.0 5.0 5.0 5.0 5.0 5.0 7.5 ― ― 2.5 2.5 2.5 ― ― ― ― ― ― ― ― 2.5 ― ― ― ― ― ― ― ― 2.5 2.5 ― ― ― ― ― ― ― ― 2.5 2.5 ― ― ― ― ― ― ― ― 2.5 2.5 ― ― ― ― ― ― ― ECA0JHG101( ) ECA0JHG221( ) ECA0JHG471( ) ECA0JHG102( ) ECA0JHG222( ) ECA0JHG332( ) ECA0JHG472( ) ECA0JHG682( ) ECA0JHG103( ) ECA0JHG153 ECA0JHG223 ECA1AHG331( ) ECA1AHG471( ) ECA1AHG102( ) ECA1AHG222( ) ECA1AHG332( ) ECA1AHG472( ) ECA1AHG682( ) ECA1AHG103 ECA1AHG153 ECA1CHG101( ) ECA1CHG221( ) ECA1CHG331( ) ECA1CHG471( ) ECA1CHG102( ) ECA1CHG222( ) ECA1CHG332( ) ECA1CHG472( ) ECA1CHG682 ECA1CHG103 ECA1EHG470( ) ECA1EHG101( ) ECA1EHG221( ) ECA1EHG331( ) ECA1EHG471( ) ECA1EHG102( ) ECA1EHG222( ) ECA1EHG332( ) ECA1EHG472 ECA1EHG682 ECA1VHG470( ) ECA1VHG101( ) ECA1VHG221( ) ECA1VHG331( ) ECA1VHG471( ) ECA1VHG102( ) ECA1VHG222( ) ECA1VHG332 ECA1VHG472 Straight Taping leads 200 200 200 200 200 200 200 200 100 100 50 200 200 200 200 200 200 100 100 50 200 200 200 200 200 200 200 100 100 50 200 200 200 200 200 200 200 100 100 50 200 200 200 200 200 200 100 100 50 2000 2000 2000 1000 500 500 500 500 250 ― ― 2000 1000 500 500 500 500 250 ― ― 2000 2000 1000 1000 500 500 500 250 ― ― 2000 2000 1000 1000 500 500 500 250 ― ― 2000 2000 1000 500 500 500 250 ― ― *1: Ripple current (120 Hz / +105 ℃) *2: tan δ (120 Hz　/ +20 ℃) ・ When requesting taped product, please put the letter “B” or “i” between the “( )”. Lead wire pitch ✽B=5 mm, 7.5 mm, i=2.5 mm. ・ Please refer to the page of “Taping dimensions”. Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 20-Dec-19 Aluminum Electrolytic Capacitors (Radial Lead Type) NHG series Characteristics list Endurance : 105 ℃ 2000 h Case size Rated voltage (V) Capacitance (±20 %) (μF) (ｍｍ) φD L Specification Ripple *1 current (mA rms) 50 63 100 tan δ*2 (Ω) Min. Packaging Q'ty (PCS) Lead length (mm) Endurance Lead dia. (h) (φd) Part No. Lead space Straight Taping ✽B Taping ✽i Straight Taping leads 2.2 5.0 11.0 18 0.12 1000 0.5 2.0 5.0 2.5 ECA1HHG2R2( ) 200 2000 3.3 5.0 11.0 22 0.12 1000 0.5 2.0 5.0 2.5 ECA1HHG3R3( ) 200 2000 4.7 5.0 11.0 26 0.12 1000 0.5 2.0 5.0 2.5 ECA1HHG4R7( ) 200 2000 10 5.0 11.0 39 0.12 1000 0.5 2.0 5.0 2.5 ECA1HHG100( ) 200 2000 22 5.0 11.0 65 0.12 1000 0.5 2.0 5.0 2.5 ECA1HHG220( ) 200 2000 33 5.0 11.0 90 0.12 1000 0.5 2.0 5.0 2.5 ECA1HHG330( ) 200 2000 47 6.3 11.2 110 0.12 1000 0.5 2.5 5.0 ECA1HHG470( ) 200 2000 100 8.0 11.5 180 0.12 1000 0.6 3.5 5.0 2.5 ― ECA1HHG101( ) 200 1000 220 10.0 12.5 300 0.12 2000 0.6 5.0 5.0 ― ECA1HHG221( ) 200 500 330 10.0 16.0 410 0.12 2000 0.6 5.0 5.0 ― ECA1HHG331( ) 200 500 470 10.0 20.0 530 0.12 2000 0.6 5.0 5.0 ― ECA1HHG471( ) 200 500 1000 12.5 25.0 950 0.12 2000 0.6 5.0 ― ECA1HHG102( ) 200 2200 16.0 31.5 1470 0.14 2000 0.8 7.5 5.0 ― ― ECA1HHG222 100 500 ― 3300 18.0 35.5 1770 0.16 2000 0.8 7.5 ― ― ECA1HHG332 50 10 5.0 11.0 46 0.10 1000 0.5 2.0 5.0 2.5 ECA1JHG100( ) 200 2000 22 5.0 11.0 71 0.10 1000 0.5 2.0 5.0 2.5 ECA1JHG220( ) 200 2000 33 6.3 11.2 100 0.10 1000 0.5 2.5 5.0 2.5 ECA1JHG330( ) 200 2000 47 6.3 11.2 120 0.10 1000 0.5 2.5 5.0 ECA1JHG470( ) 200 2000 100 10.0 12.5 215 0.10 2000 0.6 5.0 5.0 2.5 ― ECA1JHG101( ) 200 500 220 10.0 16.0 335 0.10 2000 0.6 5.0 5.0 ― ECA1JHG221( ) 200 500 330 10.0 20.0 510 0.10 2000 0.6 5.0 5.0 ― ECA1JHG331( ) 200 500 470 12.5 20.0 640 0.10 2000 0.6 5.0 5.0 ― ECA1JHG471( ) 200 500 1000 16.0 25.0 930 0.10 2000 0.8 7.5 ECA1JHG102( ) 100 2200 18.0 35.5 1610 0.12 2000 0.8 7.5 7.5 ― ― ― ECA1JHG222 50 250 ― 2.2 5.0 11.0 21 0.08 1000 0.5 2.0 5.0 2.5 ECA2AHG2R2( ) 200 2000 3.3 5.0 11.0 31 0.08 1000 0.5 2.0 5.0 2.5 ECA2AHG3R3( ) 200 2000 4.7 5.0 11.0 38 0.08 1000 0.5 2.0 5.0 2.5 ECA2AHG4R7( ) 200 2000 10 6.3 11.2 54 0.08 1000 0.5 2.5 5.0 2.5 ECA2AHG100( ) 200 2000 22 6.3 11.2 93 0.08 1000 0.5 2.5 5.0 ECA2AHG220( ) 200 2000 33 8.0 11.5 130 0.08 1000 0.6 3.5 5.0 2.5 ― ECA2AHG330( ) 200 1000 47 10.0 12.5 165 0.08 2000 0.6 5.0 5.0 ― ECA2AHG470( ) 200 500 100 10.0 20.0 265 0.08 2000 0.6 5.0 5.0 ― ECA2AHG101( ) 200 500 220 12.5 25.0 440 0.08 2000 0.6 5.0 5.0 ― ECA2AHG221( ) 200 500 330 16.0 25.0 540 0.08 2000 0.8 7.5 7.5 ― ECA2AHG331( ) 100 250 470 16.0 25.0 715 0.08 2000 0.8 7.5 ― ECA2AHG471( ) 100 1000 18.0 35.5 985 0.08 2000 0.8 7.5 7.5 ― ― ECA2AHG102 250 ― 50 ― *1: Ripple current (120 Hz / +105 ℃) *2: tan δ (120 Hz　/ +20 ℃) ・ When requesting taped product, please put the letter “B” or “i” between the “( )”. Lead wire pitch ✽B=5 mm, 7.5 mm, i=2.5 mm. ・ Please refer to the page of “Taping dimensions”. Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 20-Dec-19 Aluminum Electrolytic Capacitors (Radial Lead Type) NHG series Characteristics list Endurance : 105 ℃ 2000 h Case size Rated voltage (V) Capacitance (±20 %) (μF) (ｍｍ) φD L Specification Ripple *1 current (mA rms) 160 200 250 350 tan δ*2 (Ω) Min. Packaging Q'ty (PCS) Lead length (mm) Endurance Lead dia. (h) (φd) Part No. Lead space Straight Taping ✽B Taping ✽i Straight Taping leads 2.2 6.3 11.2 25 0.15 2000 0.5 2.5 5.0 2.5 ECA2CHG2R2( ) 200 2000 3.3 6.3 11.2 36 0.15 2000 0.5 2.5 5.0 2.5 ECA2CHG3R3( ) 200 2000 4.7 6.3 11.2 43 0.15 2000 0.5 2.5 5.0 ECA2CHG4R7( ) 200 2000 10 10.0 12.5 70 0.15 2000 0.6 5.0 5.0 2.5 ― ECA2CHG100( ) 200 500 22 10.0 20.0 130 0.15 2000 0.6 5.0 5.0 ― ECA2CHG220( ) 200 500 33 10.0 20.0 180 0.15 2000 0.6 5.0 5.0 ― ECA2CHG330( ) 200 500 47 12.5 20.0 220 0.15 2000 0.6 5.0 5.0 ― ECA2CHG470( ) 200 500 100 16.0 25.0 335 0.15 2000 0.8 7.5 ― ECA2CHG101( ) 100 220 16.0 31.5 540 0.15 2000 0.8 7.5 7.5 ― ― ECA2CHG221 100 250 ― 330 18.0 31.5 705 0.15 2000 0.8 7.5 ― ― ECA2CHG331 2.2 6.3 11.2 25 0.15 2000 0.5 2.5 5.0 2.5 ECA2DHG2R2( ) 200 2000 3.3 6.3 11.2 36 0.15 2000 0.5 2.5 5.0 200 2000 8.0 11.5 50 0.15 2000 0.6 3.5 5.0 2.5 ― ECA2DHG3R3( ) 4.7 ECA2DHG4R7( ) 200 1000 10 10.0 16.0 80 0.15 2000 0.6 5.0 5.0 ― ECA2DHG100( ) 200 500 22 10.0 20.0 140 0.15 2000 0.6 5.0 5.0 ― ECA2DHG220( ) 200 500 33 12.5 20.0 190 0.15 2000 0.6 5.0 5.0 ― ECA2DHG330( ) 200 500 47 12.5 20.0 220 0.15 2000 0.6 5.0 5.0 ― ECA2DHG470( ) 200 500 100 16.0 25.0 335 0.15 2000 0.8 7.5 ― ECA2DHG101( ) 100 220 18.0 31.5 575 0.15 2000 0.8 7.5 7.5 ― ― ECA2DHG221 50 250 ― 2.2 6.3 11.2 29 0.15 2000 0.5 2.5 5.0 ECA2EHG2R2( ) 200 2000 3.3 8.0 11.5 42 0.15 2000 0.6 3.5 5.0 2.5 ― ECA2EHG3R3 200 1000 4.7 8.0 11.5 50 0.15 2000 0.6 3.5 5.0 ― ECA2EHG4R7( ) 200 1000 10 10.0 16.0 88 0.15 2000 0.6 5.0 5.0 ― ECA2EHG100( ) 200 500 22 12.5 20.0 155 0.15 2000 0.6 5.0 5.0 ― ECA2EHG220( ) 200 500 33 12.5 20.0 190 0.15 2000 0.6 5.0 5.0 ― ECA2EHG330( ) 200 500 47 12.5 25.0 230 0.15 2000 0.6 5.0 ― ECA2EHG470( ) 200 100 16.0 31.5 365 0.15 2000 0.8 7.5 5.0 ― ― ECA2EHG101 100 500 ― 2.2 8.0 11.5 31 0.20 2000 0.6 3.5 5.0 ― ECA2VHG2R2( ) 200 1000 3.3 10.0 12.5 38 0.20 2000 0.6 5.0 5.0 ― ECA2VHG3R3( ) 200 500 4.7 10.0 16.0 50 0.20 2000 0.6 5.0 5.0 ― ECA2VHG4R7( ) 200 500 10 10.0 20.0 82 0.20 2000 0.6 5.0 5.0 ― ECA2VHG100( ) 200 500 22 12.5 20.0 130 0.20 2000 0.6 5.0 5.0 ― ECA2VHG220( ) 200 500 33 16.0 25.0 195 0.20 2000 0.8 7.5 7.5 ― ECA2VHG330( ) 100 250 47 16.0 25.0 230 0.20 2000 0.8 7.5 ― ECA2VHG470( ) 100 100 18.0 31.5 375 0.20 2000 0.8 7.5 7.5 ― ― ECA2VHG101 250 ― 50 50 ― *1: Ripple current (120 Hz / +105 ℃) *2: tan δ (120 Hz　/ +20 ℃) ・ When requesting taped product, please put the letter “B” or “i” between the “( )”. Lead wire pitch ✽B=5 mm, 7.5 mm, i=2.5 mm. ・ Please refer to the page of “Taping dimensions”. Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 20-Dec-19 Aluminum Electrolytic Capacitors (Radial Lead Type) NHG series Characteristics list Endurance : 105 ℃ 2000 h Case size Rated voltage (V) Capacitance (±20 %) (μF) (ｍｍ) φD L Specification Ripple *1 current (mA rms) 400 450 tan δ*2 (Ω) Min. Packaging Q'ty (PCS) Lead length (mm) Endurance Lead dia. (h) (φd) Part No. Lead space Straight Taping ✽B Taping ✽i Straight Taping leads 2.2 8.0 11.5 30 0.24 2000 0.6 3.5 5.0 ― ECA2GHG2R2( ) 200 1000 3.3 10.0 12.5 40 0.24 2000 0.6 5.0 5.0 ― ECA2GHG3R3( ) 200 500 4.7 10.0 16.0 50 0.24 2000 0.6 5.0 5.0 ― ECA2GHG4R7( ) 200 500 10 10.0 20.0 80 0.24 2000 0.6 5.0 5.0 ― ECA2GHG100( ) 200 500 22 12.5 25.0 145 0.24 2000 0.6 5.0 5.0 ― ECA2GHG220( ) 200 500 33 16.0 25.0 195 0.24 2000 0.8 7.5 ― ECA2GHG330( ) 100 47 16.0 31.5 250 0.24 2000 0.8 7.5 7.5 ― ― ECA2GHG470 100 250 ― 2.2 10.0 12.5 29 0.24 2000 0.6 5.0 5.0 ― ECA2WHG2R2( ) 200 500 3.3 10.0 16.0 41 0.24 2000 0.6 5.0 5.0 ― ECA2WHG3R3( ) 200 500 4.7 10.0 20.0 49 0.24 2000 0.6 5.0 5.0 ― ECA2WHG4R7( ) 200 500 10 12.5 20.0 75 0.24 2000 0.6 5.0 5.0 ― ECA2WHG100( ) 200 500 22 16.0 25.0 115 0.24 2000 0.8 7.5 ― ECA2WHG220( ) 100 33 16.0 31.5 155 0.24 2000 0.8 7.5 7.5 ― ― ECA2WHG330 100 250 ― *1: Ripple current (120 Hz / +105 ℃) *2: tan δ (120 Hz　/ +20 ℃) ・ When requesting taped product, please put the letter “B” or “i” between the “( )”. Lead wire pitch ✽B=5 mm, 7.5 mm, i=2.5 mm. ・ Please refer to the page of “Taping dimensions”. Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 20-Dec-19 *XLGHOLQHVDQGSUHFDXWLRQVUHJDUGLQJWKH WHFKQLFDOLQIRUPDWLRQDQGXVHRIRXUSURGXFWV GHVFULEHGLQWKLVRQOLQHFDWDORJ ‫ٹ‬,I\RXZDQWWRXVHRXUSURGXFWVGHVFULEHGLQWKLVRQOLQHFDWDORJIRUDSSOLFDWLRQVUHTXLULQJ VSHFLDOTXDOLWLHVRUUHOLDELOLW\RUIRUDSSOLFDWLRQVZKHUHWKHIDLOXUHRUPDOIXQFWLRQRIWKH SURGXFWVPD\GLUHFWO\MHRSDUGL]HKXPDQOLIHRUSRWHQWLDOO\FDXVHSHUVRQDOLQMXU\ HJDLUFUDIWDQGDHURVSDFHHTXLSPHQWWUDIILFDQGWUDQVSRUWDWLRQHTXLSPHQWFRPEXVWLRQ HTXLSPHQWPHGLFDOHTXLSPHQWDFFLGHQWSUHYHQWLRQDQWLFULPHHTXLSPHQWDQGRUVDIHW\ HTXLSPHQWLWLVQHFHVVDU\WRYHULI\ZKHWKHUWKHVSHFLILFDWLRQVRIRXUSURGXFWVILWWRVXFK DSSOLFDWLRQV3OHDVHHQVXUHWKDW\RXZLOODVNDQGFKHFNZLWKRXULQTXLU\GHVNDVWRZKHWKHU WKHVSHFLILFDWLRQVRIRXUSURGXFWVILWWRVXFKDSSOLFDWLRQVXVHEHIRUH\RXXVHRXUSURGXFWV ‫ٹ‬7KHTXDOLW\DQGSHUIRUPDQFHRIRXUSURGXFWVDVGHVFULEHGLQWKLVRQOLQHFDWDORJRQO\DSSO\ WRRXUSURGXFWVZKHQXVHGLQLVRODWLRQ7KHUHIRUHSOHDVHHQVXUH\RXHYDOXDWHDQGYHULI\ RXUSURGXFWVXQGHUWKHVSHFLILFFLUFXPVWDQFHVLQZKLFKRXUSURGXFWVDUHDVVHPEOHGLQ\RXU RZQSURGXFWVDQGLQZKLFKRXUSURGXFWVZLOODFWXDOO\EHXVHG ‫ٹ‬,I\RXXVHRXUSURGXFWVLQHTXLSPHQWWKDWUHTXLUHVDKLJKGHJUHHRIUHOLDELOLW\UHJDUGOHVV RIWKHDSSOLFDWLRQLWLVUHFRPPHQGHGWKDW\RXVHWXSSURWHFWLRQFLUFXLWVDQGUHGXQGDQF\ FLUFXLWVLQRUGHUWRHQVXUHVDIHW\RI\RXUHTXLSPHQW ‫ٹ‬7KHSURGXFWVDQGSURGXFWVSHFLILFDWLRQVGHVFULEHGLQWKLVRQOLQHFDWDORJDUHVXEMHFWWR FKDQJHIRULPSURYHPHQWZLWKRXWSULRUQRWLFH7KHUHIRUHSOHDVHEHVXUHWRUHTXHVWDQG FRQILUPWKHODWHVWSURGXFWVSHFLILFDWLRQVZKLFKH[SODLQWKHVSHFLILFDWLRQVRIRXUSURGXFWVLQ GHWDLOEHIRUH\RXILQDOL]HWKHGHVLJQRI\RXUDSSOLFDWLRQVSXUFKDVHRUXVHRXUSURGXFWV ‫ٹ‬7KHWHFKQLFDOLQIRUPDWLRQLQWKLVRQOLQHFDWDORJSURYLGHVH[DPSOHVRIRXUSURGXFWV  W\SLFDORSHUDWLRQVDQGDSSOLFDWLRQFLUFXLWV:HGRQRWJXDUDQWHHWKHQRQLQIULQJHPHQWRI WKLUGSDUW\ VLQWHOOHFWXDOSURSHUW\ULJKWVDQGZHGRQRWJUDQWDQ\OLFHQVHULJKWRULQWHUHVW LQRXULQWHOOHFWXDOSURSHUW\ ‫ٹ‬,IDQ\RIRXUSURGXFWVSURGXFWVSHFLILFDWLRQVDQGRUWHFKQLFDOLQIRUPDWLRQLQWKLVRQOLQH FDWDORJLVWREHH[SRUWHGRUSURYLGHGWRQRQUHVLGHQWVWKHODZVDQGUHJXODWLRQVRIWKH H[SRUWLQJFRXQWU\HVSHFLDOO\ZLWKUHJDUGWRVHFXULW\DQGH[SRUWFRQWUROVKDOOEHREVHUYHG 5HJDUGLQJWKH&HUWLILFDWHRI&RPSOLDQFHZLWK WKH(85R+6'LUHFWLYH5($&+5HJXODWLRQV! ‫ٹ‬7KHVZLWFKRYHUGDWHIRUFRPSOLDQFHZLWKWKH5R+6'LUHFWLYH5($&+5HJXODWLRQVYDULHV GHSHQGLQJRQWKHSDUWQXPEHURUVHULHVRIRXUSURGXFWV ‫ٹ‬:KHQ\RXXVHWKHLQYHQWRU\RIRXUSURGXFWVIRUZKLFKLWLVXQFOHDUZKHWKHUWKRVHSURGXFWV DUHFRPSOLDQWZLWKWKH5R+6'LUHFWLYH5($&+5HJXODWLRQSOHDVHVHOHFW6DOHV,QTXLU\LQWKH ZHEVLWHLQTXLU\IRUPDQGFRQWDFWXV :HGRQRWWDNHDQ\UHVSRQVLELOLW\IRUWKHXVHRIRXUSURGXFWVRXWVLGHWKHVFRSHRIWKH VSHFLILFDWLRQVGHVFULSWLRQVJXLGHOLQHVDQGSUHFDXWLRQVGHVFULEHGLQWKLVRQOLQHFDWDORJ 'HF 1RWLFHV,WHPVWREHREVHUYHG 1RWLFHV ‫ٹ‬$SSOLFDEOHODZVDQGUHJXODWLRQV 嵣7KLVSURGXFWFRPSOLHVZLWKWKH5R+6'LUHFWLYH5HVWULFWLRQRIWKHXVHRIFHUWDLQKD]DUGRXVVXEVWDQFHVLQ HOHFWULFDODQGHOHFWURQLFHTXLSPHQW',5(&7,9((8DQG‫(ق‬8 嵣1R2]RQH'HSOHWLQJ&KHPLFDOV2'& VFRQWUROOHGXQGHUWKH0RQWUHDO3URWRFRO$JUHHPHQWDUHXVHGLQ SURGXFLQJWKLVSURGXFW 岜:HGRQRWXVH3%%VRU3%'(VDVEURPLQDWHGIODPHUHWDUGDQWV 嵣([SRUWSURFHGXUHZKLFKIROORZHGH[SRUWUHODWHGUHJXODWLRQVVXFKDVIRUHLJQH[FKDQJHDQGDIRUHLJQWUDGH PHWKRGRQWKHRFFDVLRQRIH[SRUWRIWKLVSURGXFW 嵣7KHVHSURGXFWVDUHQRWGDQJHURXVJRRGVRQWKHWUDQVSRUWDWLRQDVLGHQWLILHGE\818QLWHG1DWLRQVQXPEHUV RU81FODVVLILFDWLRQ ‫ٹ‬/LPLWHGDSSOLFDWLRQV 嵣7KLVFDSDFLWRULVGHVLJQHGWREHXVHGIRUHOHFWURQLFVFLUFXLWVVXFKDVDXGLRYLVXDOHTXLSPHQWKRPH DSSOLDQFHVFRPSXWHUVDQGRWKHURIILFHHTXLSPHQWRSWLFDOHTXLSPHQWPHDVXULQJHTXLSPHQW 嵣+LJKUHOLDELOLW\DQGVDIHW\DUHUHTXLUHG>EHDSRVVLELOLW\WKDWLQFRUUHFWRSHUDWLRQRIWKLVSURGXFWPD\GRKDUP 岜WRDKXPDQOLIHRUSURSHUW\@PRUH:KHQXVHLVFRQVLGHUHGE\WKHXVHWKHGHOLYHU\VSHFLILFDWLRQVZKLFKVXLWHG WKHXVHVHSDUDWHO\QHHGWREHH[FKDQJHG ‫ٹ‬,QWHOOHFWXDOSURSHUW\ULJKWVDQGOLFHQVHV 嵣7KHWHFKQLFDOLQIRUPDWLRQLQWKLVVSHFLILFDWLRQSURYLGHVH[DPSOHVRIRXUSURGXFWV W\SLFDORSHUDWLRQVDQGDSSOLFDWLRQ FLUFXLWV:HGRQRWJXDUDQWHHWKHQRQLQIULQJHPHQWRIWKLUGSDUW\ VLQWHOOHFWXDOSURSHUW\ULJKWVDQGZHGRQRWJUDQW DQ\OLFHQVHULJKWRULQWHUHVWLQRXULQWHOOHFWXDOSURSHUW\ ,WHPVWREHREVHUYHG ‫)ٹ‬RUVSHFLILFDWLRQ 嵣7KLVVSHFLILFDWLRQJXDUDQWHHVWKHTXDOLW\DQGSHUIRUPDQFHRIWKHSURGXFWDVLQGLYLGXDOFRPSRQHQWV 7KHGXUDELOLW\GLIIHUVGHSHQGLQJRQWKHHQYLURQPHQWDQGWKHFRQGLWLRQVRIXVDJH %HIRUHXVHFKHFNDQGHYDOXDWHWKHLUFRPSDWLELOLW\ZLWKDFWXDOFRQGLWLRQVZKHQLQVWDOOHGLQWKHSURGXFWV :KHQVDIHW\UHTXLUHPHQWVFDQQRWEHVDWLVILHGLQ\RXUWHFKQLFDOH[DPLQDWLRQLQIRUPXVLPPHGLDWHO\ 嵣'RQRWXVHWKHSURGXFWVEH\RQGWKHVSHFLILFDWLRQVGHVFULEHGLQWKLVGRFXPHQW ‫ٹ‬8SRQDSSOLFDWLRQWRSURGXFWVZKHUHVDIHW\LVUHJDUGHGDVLPSRUWDQW ,QVWDOOWKHIROORZLQJV\VWHPVIRUDIDLOVDIHGHVLJQWRHQVXUHVDIHW\LIWKHVHSURGXFWVDUHWREHXVHGLQ HTXLSPHQWZKHUHDGHIHFWLQWKHVHSURGXFWVPD\FDXVHWKHORVVRIKXPDQOLIHRURWKHUVLJQLILFDWLRQGDPDJH VXFKDVGDPDJHWRYHKLFOHVDXWRPRELOHWUDLQYHVVHOWUDIILFOLJKWVPHGLFDOHTXLSPHQWDHURVSDFHHTXLSPHQW HOHFWULFKHDWLQJDSSOLDQFHVFRPEXVWLRQJDVHTXLSPHQWURWDWLQJURWDWLQJHTXLSPHQWDQGGLVDVWHUFULPH SUHYHQWLRQHTXLSPHQW 7KHV\VWHPLVHTXLSSHGZLWKDSURWHFWLRQFLUFXLWDQGSURWHFWLRQGHYLFH 7KHV\VWHPLVHTXLSSHGZLWKDUHGXQGDQWFLUFXLWRURWKHUV\VWHPWRSUHYHQWDQXQVDIHVWDWXVLQWKHHYHQW RIDVLQJOHIDXOW ‫&ٹ‬RQGLWLRQVRIXVH 嵣%HIRUHXVLQJWKHSURGXFWVFDUHIXOO\FKHFNWKHHIIHFWVRQWKHLUTXDOLW\DQGSHUIRUPDQFHDQGGHWHUPLQHG 岜ZKHWKHURUQRWWKH\FDQEHXVHG7KHVHSURGXFWVDUHGHVLJQHGDQGPDQXIDFWXUHGIRUJHQHUDOSXUSRVHDQG 岜VWDQGDUGXVHLQJHQHUDOHOHFWURQLFHTXLSPHQW7KHVHSURGXFWVDUHQRWLQWHQGHGIRUXVHLQWKHIROORZLQJVSHFLDO 岜FRQGLWLRQV ,QOLTXLGVXFKDV:DWHU2LO&KHPLFDOVRU2UJDQLFVROYHQW ,QGLUHFWVXQOLJKWRXWGRRUVRULQGXVW ,QYDSRUVXFKDVGHZFRQGHQVDWLRQZDWHURIUHVLVWLYHHOHPHQWRUZDWHUOHDNDJHVDOW\DLURUDLUZLWKD KLJKFRQFHQWUDWLRQFRUURVLYHJDVVXFKDV&O+61+62RU12[ ,QDQHQYLURQPHQWZKHUHVWURQJVWDWLFHOHFWULFLW\RUHOHFWURPDJQHWLFZDYHVH[LVW 0RXQWLQJRUSODFLQJKHDWJHQHUDWLQJFRPSRQHQWVRULQIODPPDEOHVVXFKDVYLQ\OFRDWHGZLUHVQHDU WKHVHSURGXFWV 6HDOLQJRUFRDWLQJRIWKHVHSURGXFWVRUDSULQWHGFLUFXLWERDUGRQZKLFKWKHVHSURGXFWVDUHPRXQWHG ZLWKUHVLQDQGRWKHUPDWHULDO 8VLQJUHVROYHQWZDWHURUZDWHUVROXEOHFOHDQHUIRUIOX[FOHDQLQJDJHQWDIWHUVROGHULQJ,QSDUWLFXODU ZKHQXVLQJZDWHURUDZDWHUVROXEOHFOHDQLQJDJHQWEHFDUHIXOQRWWROHDYHZDWHUUHVLGXHV 8VLQJLQWKHDWPRVSKHUHZKHUHVWUD\VDFLGRUDONDOLQH 8VLQJLQWKHDWPRVSKHUHZKHUHWKHUHDUHH[FHVVLYHYLEUDWLRQDQGVKRFN 嵣3OHDVHDUUDQJHFLUFXLWGHVLJQIRUSUHYHQWLQJLPSXOVHRUWUDQVLWLRQDOYROWDJH 岜'RQRWDSSO\YROWDJHZKLFKH[FHHGVWKHIXOOUDWHGYROWDJHZKHQWKHFDSDFLWRUVUHFHLYHLPSXOVHYROWDJH 岜LQVWDQWDQHRXVKLJKYROWDJHKLJKSXOVHYROWDJHHWF 嵣2XUSURGXFWVWKHUHLVDSURGXFWDUHXVLQJDQHOHFWURO\WHVROXWLRQ7KHUHIRUHPLVXVHFDQUHVXOWLQUDSLG 岜GHWHULRUDWLRQRIFKDUDFWHULVWLFVDQGIXQFWLRQVRIHDFKSURGXFW(OHFWURO\WHOHDNDJHGDPDJHVSULQWHGFLUFXLWDQG DIIHFWVSHUIRUPDQFHFKDUDFWHULVWLFVDQGIXQFWLRQVRIFXVWRPHUV\VWHP 'HF $OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH 岜岜$SSOLFDWLRQJXLGHOLQHV‫ق‬5DGLDOOHDG7\SH‫ك‬ 岜 &LUFXLWGHVLJQ 2SHUDWLQJWHPSHUDWXUHDQGIUHTXHQF\ (OHFWULFDOFKDUDFWHULVWLFVRIWKHFDSDFLWRUDUHOLNHO\WRFKDQJHGXHWRYDULDWLRQLQWHPSHUDWXUHDQGRUIUHTXHQF\ &LUFXLWGHVLJQHUVVKRXOGWDNHWKHVHFKDQJHVLQWRFRQVLGHUDWLRQ (IIHFWVRIRSHUDWLQJWHPSHUDWXUHRQHOHFWULFDOSDUDPHWHUV $WKLJKHUWHPSHUDWXUHV OHDNDJHFXUUHQWDQGFDSDFLWDQFHLQFUHDVHZKLOHHTXLYDOHQWVHULHVUHVLVWDQFH (65GHFUHDVHV $WORZHUWHPSHUDWXUHV OHDNDJHFXUUHQWDQGFDSDFLWDQFHGHFUHDVHZKLOHHTXLYDOHQWVHULHVUHVLVWDQFH (65LQFUHDVHV (IIHFWVRIIUHTXHQF\RQHOHFWULFDOSDUDPHWHUV $WKLJKHUIUHTXHQFLHV FDSDFLWDQFHDQGLPSHGDQFHGHFUHDVHZKLOHWDQGLQFUHDVHV $WORZHUIUHTXHQFLHV KHDWJHQHUDWHGE\ULSSOHFXUUHQWZLOOULVHGXHWRDQLQFUHDVHLQHTXLYDOHQW VHULHVUHVLVWDQFH(65 2SHUDWLQJWHPSHUDWXUHDQGOLIHH[SHFWDQF\ ([SHFWHGOLIHLVDIIHFWHGE\RSHUDWLQJWHPSHUDWXUH*HQHUDOO\HDFK&UHGXFWLRQLQWHPSHUDWXUHZLOO GRXEOHWKHH[SHFWHGOLIH8VHFDSDFLWRUVDWWKHORZHVWSRVVLEOHWHPSHUDWXUHEHORZWKHXSSHUFDWHJRU\ WHPSHUDWXUH ,IRSHUDWLQJWHPSHUDWXUHVH[FHHGWKHXSSHUFDWHJRU\OLPLWUDSLGGHWHULRUDWLRQRIHOHFWULFDOSDUDPHWHU ZLOORFFXUDQGLUUHYHUVLEOHGDPDJHZLOOUHVXOW &KHFNIRUWKHPD[LPXPFDSDFLWRURSHUDWLQJWHPSHUDWXUHVLQFOXGLQJDPELHQWWHPSHUDWXUHLQWHUQDO FDSDFLWRUWHPSHUDWXUHULVHGXHWRULSSOHFXUUHQWDQGWKHHIIHFWVRIUDGLDWHGKHDWIURPSRZHUWUDQVLVWRUV ,& VRUUHVLVWRUV $YRLGSODFLQJFRPSRQHQWVZKLFKFRXOGFRQGXFWKHDWWRWKHFDSDFLWRUIURPWKHEDFNVLGHRIWKHFLUFXLWERDUG 7KHIRUPXODIRUFDOFXODWLQJH[SHFWHGOLIHDWORZHURSHUDWLQJWHPSHUDWXUHVLVDVIROORZV 77 / /¼  / ‫*؟‬XDUDQWHHGOLIHKDWWHPSHUDWXUH7& / ‫[(؟‬SHFWHGOLIHKDWWHPSHUDWXUH7& 7 ‫؟‬8SSHUFDWHJRU\WHPSHUDWXUHWHPSHUDWXUHULVHGXHWRUDWHGULSSOHFXUUHQW& 7 ‫؟‬$FWXDORSHUDWLQJWHPSHUDWXUHDPELHQWWHPSHUDWXUHWHPSHUDWXUHULVHGXHWRULSSOHFXUUHQW& 8VLQJWKHFDSDFLWRUEH\RQGWKHHVWLPDWHGOLIHWLPHZLOOUHVXOWLQVKRUWFLUFXLWHOHFWURO\WHOHDNYHQWRSHQ DQGODUJHGHWHULRUDWLRQRIFKDUDFWHULVWLFV7KHOLIHWLPHFDQQRWJRDERYH\HDUVGXHWRDJLQJRIVHDOLQJUXEEHU &RPPRQDSSOLFDWLRQFRQGLWLRQVWRDYRLG 7KHIROORZLQJPLVDSSOLFDWLRQORDGFRQGLWLRQVZLOOFDXVHUDSLGGHWHULRUDWLRQRIDFDSDFLWRUbVHOHFWULFDOSDUDPHWHUV ,QDGGLWLRQUDSLGKHDWLQJDQGJDVJHQHUDWLRQZLWKLQWKHFDSDFLWRUFDQRFFXUFDXVLQJWKHSUHVVXUHUHOLHIYHQW WRRSHUDWHDQGUHVXOWDQWOHDNDJHRIHOHFWURO\WH8QGHUH[WUHPHFRQGLWLRQVH[SORVLRQDQGILUHLJQLWLRQFRXOGUHVXOW 7KHOHDNHGHOHFWURO\WHLVFRPEXVWLEOHDQGHOHFWULFDOO\FRQGXFWLYH 5HYHUVHYROWDJH '&FDSDFLWRUVKDYHSRODULW\7KHUHIRUHSOHDVHGRQRWDSSO\WKHUHYHUVHYROWDJH9HULI\FRUUHFWSRODULW\ EHIRUHLQVHUWLRQ )RUFLUFXLWVZLWKFKDQJLQJRUXQFHUWDLQSRODULW\XVH'&ELSRODUFDSDFLWRUV'&ELSRODUFDSDFLWRUVDUHQRW VXLWDEOHIRUXVHLQ$&FLUFXLWV &KDUJH'LVFKDUJHDSSOLFDWLRQV 6WDQGDUGFDSDFLWRUVDUHQRWVXLWDEOHIRUXVHLQUHSHDWLQJFKDUJHGLVFKDUJHDSSOLFDWLRQV)RUFKDUJH GLVFKDUJHDSSOLFDWLRQVFRQVXOWXVZLWK\RXUDFWXDODSSOLFDWLRQFRQGLWLRQ )RUUXVKFXUUHQWSOHDVHWRQRUH[FHHG$ 212))FLUFXLW 'RQRWXVHFDSDFLWRUVLQFLUFXLWZKHUH212))VZLWFKLQJLVUHSHDWHGPRUHWKDQWLPHVSHUGD\ ,QFDVHRIDSSO\LQJWRWKHWKHVHV212))FLUFXLWFRQVXOWZLWKXVDERXWFLUFXLWFRQGLWLRQDQGVRRQ 'HF $OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH 2YHUYROWDJH 'RQRWDSSO\YROWDJHVH[FHHGLQJWKHPD[LPXPVSHFLILHGUDWHGYROWDJH9ROWDJHVXSWRWKHVXUJHYROWDJH UDWLQJDUHDFFHSWDEOHIRUVKRUWSHULRGVRIWLPH (QVXUHWKDWWKHVXPRIWKH'&YROWDJHDQGWKHVXSHULPSRVHG$&ULSSOHYROWDJHGRHVQRWH[FHHGWKH UDWHGYROWDJH 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&DSDFLWRUVFRQQHFWHGLQSDUDOOHO 7KHFLUFXLWUHVLVWDQFHFDQFORVHO\DSSUR[LPDWHWKHVHULHVUHVLVWDQFHRIWKHFDSDFLWRUFDXVLQJDQLPEDODQFHRI ULSSOHFXUUHQWORDGVZLWKLQWKHFDSDFLWRUV&DUHIXOZLULQJPHWKRGVFDQPLQLPL]HWKHSRVVLEOHDSSOLFDWLRQRIDQ H[FHVVLYHULSSOHFXUUHQWWRDFDSDFLWRU &DSDFLWRUVFRQQHFWHGLQVHULHV 'LIIHUHQFHVLQQRUPDO'&OHDNDJHFXUUHQWDPRQJFDSDFLWRUVFDQFDXVHYROWDJHLPEDODQFHV 7KHXVHRIYROWDJHGLYLGHUVKXQWUHVLVWRUVZLWKFRQVLGHUDWLRQWROHDNDJHFXUUHQWVFDQSUHYHQWFDSDFLWRU YROWDJHLPEDODQFHV 127(3OHDVHGRQRWXVHLQWKHVHULHVLQWKHFDVHRIFRQGXFWLYHSRO\PHUK\EULGDOXPLQXPHOHFWURO\WLFFDSDFLWRU &DSDFLWRUPRXQWLQJFRQVLGHUDWLRQV 'RXEOHVLGHGFLUFXLWERDUGV $YRLGZLULQJSDWWHUQUXQVZKLFKSDVVEHWZHHQWKHPRXQWHGFDSDFLWRUDQGWKHFLUFXLWERDUG :KHQGLSSLQJLQWRDVROGHUEDWKDQH[FHVVVROGHUPD\GHSRVLWXQGHUWKHFDSDFLWRUE\FDSLOODU\DFWLRQ FDXVLQJVKRUWFLUFXLWEHWZHHQDQRGHDQGFDWKRGHWHUPLQDOV &LUFXLW%RDUG+ROH3RVLWLRQLQJ 7KHYLQ\OVOHHYHRIWKHFDSDFLWRUFDQEHGDPDJHGLIVROGHUSDVVHVWKURXJKDOHDGKROHLQWRWKHVXEVHTXHQWO\ SURFHVVHGSDUWV 6SHFLDOFDUHZKHQORFDWLQJKROHSRVLWLRQVLQSUR[LPLW\WRFDSDFLWRUVLVUHFRPPHQGHG &LUFXLW%RDUG+ROH6SDFLQJ 7KHVSDFLQJRIFLUFXLWERDUGKROHVVKRXOGPDWFKWKHOHDGZLUHVSDFLQJRIFDSDFLWRUVZLWKLQWKHVSHFLILHG WROHUDQFHV,QFRUUHFWVSDFLQJFDQFDXVHDQH[FHVVLYHOHDGZLUHVWUHVVGXULQJWKHLQVHUWLRQSURFHVV 7KLVPD\UHVXOWLQSUHPDWXUHFDSDFLWRUIDLOXUHGXHWRWKHVKRUWRURSHQFLUFXLWLQFUHDVHGOHDNDJHFXUUHQW RUHOHFWURO\WHOHDNDJH &OHDUDQFHIRUFDVHPRXQWHGSUHVVXUHUHOLHI &DSDFLWRUVZLWKFDVHPRXQWHGSUHVVXUHUHOLHIUHTXLUHVXIILFLHQWFOHDUDQFHWRDOORZIRUSURSHUSUHVVXUH UHOLHIRSHUDWLRQ 7KHPLQLPXPFOHDUDQFHDUHGHSHQGHQWRQFDSDFLWRUGLDPHWHUVDVIROORZV 'LDPPWR'LDPPPPPLQLPXP'LDPPPPPLQLPXP :LULQJQHDUWKHSUHVVXUHUHOLHI $YRLGORFDWLQJKLJKYROWDJHRUKLJKFXUUHQWZLULQJRUFLUFXLWERDUGSDWKVDERYHWKHSUHVVXUHUHOLHI )ODPPDEOHKLJKWHPSHUDWXUHJDVWKDWH[FHHGV&PD\EHUHOHDVHGZKLFKFRXOGGLVVROYHWKHZLUH LQVXODWLRQDQGLJQLWH &LUFXLWERDUGSDWWHUQVXQGHUWKHFDSDFLWRU $YRLGFLUFXLWERDUGUXQVXQGHUWKHFDSDFLWRUDVDQHOHFWULFDOVKRUWFDQRFFXUGXHWRDQHOHFWURO\WHOHDNDJH 3OHDVHQRWHWKHUHVRQDQWDIWHUSURGXFWLPSOHPHQWDWLRQ 7KHYLFLQLW\RIWKHUHVRQDQWSRLQWZLOOWDNHDKHDY\ORDGRQWKHFDSDFLWRU &DSDFLWRUVFDQFDXVHUDSLGFKDQJHLQFKDUDFWHULVWLFVDQGGURSRXWE\WKLVORDG (OHFWULFDOLVRODWLRQRIWKHFDSDFLWRU &RPSOHWHO\LVRODWHWKHFDSDFLWRUDVIROORZV %HWZHHQWKHFDWKRGHDQGWKHFDVHDQGEHWZHHQWKHDQRGHWHUPLQDODQGRWKHUFLUFXLWSDWKV 'HF $OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH &DSDFLWRU6OHHYH 7KHYLQ\OVOHHYHRUODPLQDWHFRDWLQJLVLQWHQGHGIRUPDUNLQJDQGLGHQWLILFDWLRQSXUSRVHVDQGLVQRWPHDQWWR HOHFWULFDOO\LQVXODWHWKHFDSDFLWRU 7KHVOHHYHPD\VSOLWRUFUDFNLILPPHUVHGLQWRVROYHQWVVXFKDVWROXHQHRU[\OHQHDQGWKHQVXEVHTXHQWO\ H[SRVHGWRKLJKWHPSHUDWXUHV &DSDFLWRUKDQGOLQJWHFKQLTXHV &RQVLGHUDWLRQVEHIRUHXVLQJ &DSDFLWRUVKDYHDILQLWHOLIH'RQRWUHXVHRUUHF\FOHFDSDFLWRUVIURPXVHGHTXLSPHQW 7UDQVLHQWUHFRYHU\YROWDJHPD\EHJHQHUDWHGLQWKHFDSDFLWRUGXHWRGLHOHFWULFDEVRUSWLRQ ,IUHTXLUHGWKLVYROWDJHFDQEHGLVFKDUJHGZLWKDUHVLVWRUZLWKDYDOXHRIDERXWN̚ &DSDFLWRUVVWRUHGIRUDORQJSHULRGRIWLPHPD\H[KLELWDQLQFUHDVHLQOHDNDJHFXUUHQW 7KLVFDQEHFRUUHFWHGE\JUDGXDOO\DSSO\LQJUDWHGYROWDJHLQVHULHVZLWKDUHVLVWRURIDSSUR[LPDWHO\N̚ ,IFDSDFLWRUVDUHGURSSHGWKH\FDQEHGDPDJHGPHFKDQLFDOO\RUHOHFWULFDOO\$YRLGXVLQJGURSSHG FDSDFLWRUV 'HQWHGRUFUXVKHGFDSDFLWRUVVKRXOGQRWEHXVHG 7KHVHDOLQWHJULW\FDQEHGDPDJHGDQGORVVRIHOHFWURO\WHVKRUWHQHGOLIHFDQUHVXOW &DSDFLWRULQVHUWLRQ 9HULI\WKHFRUUHFWFDSDFLWDQFHDQGUDWHGYROWDJHRIWKHFDSDFLWRU 9HULI\WKHFRUUHFWSRODULW\RIWKHFDSDFLWRUEHIRUHLQVHUWLRQ 9HULI\WKHFRUUHFWWHUPLQDOGLPHQVLRQDQGODQGSDWWHUQVL]HEHIRUHPRXQWWRDYRLGVWUHVVRQWKHWHUPLQDOV (QVXUHWKDWWKHOHDGFOLQFKLQJRSHUDWLRQGRQHE\DXWRLQVHUWLRQHTXLSPHQWVGRHVQRWVWUHVVWKHFDSDFLWRUOHDGV ZKHUHWKH\HQWHUWKHVHDORIWKHFDSDFLWRU )ORZ6ROGHULQJ 'RQRWLPPHUVHWKHFDSDFLWRUERG\LQWRWKHVROGHUEDWKDVH[FHVVLYHLQWHUQDOSUHVVXUHFRXOGUHVXOW $SSO\SURSHUVROGHULQJFRQGLWLRQVWHPSHUDWXUHWLPHHWF'RQRWH[FHHGWKHVSHFLILHGOLPLWV 'RQRWDOORZRWKHUSDUWVRUFRPSRQHQWVWRWRXFKWKHFDSDFLWRUGXULQJVROGHULQJ 5DGLDOOHDGW\SHFDSDFLWRUVDUHQRWDOORZHGIRUWKHUHIORZVROGHULQJ 0DQXDOVROGHULQJ $SSO\VROGHULQJFRQGLWLRQVWHPSHUDWXUHDQGWLPHEDVHGRQWKHVSHFLILFDWLRQRUGRQRWH[FHHGWHPSHUDWXUH RI٦IRUVHFRQGVRUOHVV ,IOHDGZLUHVPXVWEHPRGLILHGWRPHHWWHUPLQDOERDUGKROHVSDFLQJDYRLGVWUHVVRQWKHOHDGZLUHZKHUHLW HQWHUVWKHFDSDFLWRUVHDO ,IDVROGHUHGFDSDFLWRUPXVWEHUHPRYHGDQGUHLQVHUWHGDYRLGH[FHVVLYHVWUHVVRQWKHFDSDFLWRUOHDGV $YRLGSK\VLFDOFRQWDFWVEHWZHHQWKHWLSRIWKHVROGHULQJLURQDQGFDSDFLWRUVWRSUHYHQWPHOWLQJRIWKHYLQ\OVOHHYH 2WKHU6ROGHULQJ&RQVLGHUDWLRQV 5DSLGWHPSHUDWXUHULVHGXULQJWKHSUHKHDWRSHUDWLRQDQGUHVLQERQGLQJRSHUDWLRQFDQFDXVHFUDFNLQJRIWKH FDSDFLWRUbVYLQ\OVOHHYH )RUKHDWFXULQJGRQRWH[FHHG&IRUWKHPD[LPXPWLPHRIPLQXWHV &DSDFLWRUKDQGOLQJDIWHUVROGHULQJ $YRLGPRYLQJWKHFDSDFLWRUDIWHUVROGHULQJWRSUHYHQWH[FHVVLYHVWUHVVRQWKHOHDGZLUHVZKHUHWKH\HQWHU WKHVHDO7KHFDSDFLWRUPD\EUHDNIURPHOHPHQWSRUWLRQGXHWRDWRUTXHDWRXWHUULPFDXVLQJDODUJHVWUHVV WRWHUPLQDOV 'RQRWXVHWKHFDSDFLWRUDVDKDQGOHZKHQPRYLQJWKHFLUFXLWERDUGDVVHPEO\7KHWRWDOZHLJKWRIWKH ERDUGZRXOGDSSO\WRHOHPHQWSRUWLRQWKURXJKWHUPLQDOVDQGWKHFDSDFLWRUPD\EUHDN $YRLGVWULNLQJWKHFDSDFLWRUDIWHUDVVHPEO\WRSUHYHQWIDLOXUHGXHWRH[FHVVLYHVKRFN7KHFDSDFLWRUPD\ EUHDNGXHWRH[FHVVLYHVKRFNRUORDGDERYHVSHFLILHGUDQJH &LUFXLWERDUGFOHDQLQJ &LUFXLWERDUGVFDQEHLPPHUVHGRUXOWUDVRQLFDOO\FOHDQHGXVLQJVXLWDEOHFOHDQLQJVROYHQWVIRUXSWR PLQXWHVDQGXSWR&PD[LPXPWHPSHUDWXUHV7KHERDUGVVKRXOGEHWKRURXJKO\ULQVHGDQGGULHG 7KHXVHRIR]RQHGHSOHWLQJFOHDQLQJDJHQWVLVQRWUHFRPPHQGHGIRUWKHSXUSRVHRISURWHFWLQJRXU HQYLURQPHQW 岧7DUJHWVROYHQW岨 3LQH$OSKD676$TXD&OHDQHU6(3&OHDQWKUX+/06XQHOHF% 6XQHOHF%&ROG&OHDQHU37HFKQR&OHDQHU'.%HFOHDU&: 7HOSHQH&OHDQHU(&57HFKQRFDUH)5:)5:)59 'HF $OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH $YRLGXVLQJWKHIROORZLQJVROYHQWJURXSVXQOHVVVSHFLILFDOO\DOORZHGLQWKHVSHFLILFDWLRQ D+DORJHQDWHGFOHDQLQJVROYHQWV‫؟‬H[FHSWIRUVROYHQWUHVLVWDQWFDSDFLWRUW\SHVKDORJHQDWHGVROYHQWVFDQ SHUPHDWHWKHVHDODQGFDXVHLQWHUQDOFDSDFLWRUFRUURVLRQDQGIDLOXUH )RUVROYHQWUHVLVWDQWFDSDFLWRUVFDUHIXOO\IROORZWKHWHPSHUDWXUHDQGWLPHUHTXLUHPHQWVEDVHGRQWKH VSHFLILFDWLRQWULFKORURHWKDQHVKRXOGQHYHUEHXVHGRQDQ\DOXPLQXPHOHFWURO\WLFFDSDFLWRU E$ONDOLQHVROYHQWV ‫؟‬FRXOGUHDFWDQGGLVVROYHWKHDOXPLQXPFDVH F3HWUROHXPEDVHGVROYHQWV ‫؟‬GHWHULRUDWLRQRIWKHUXEEHUVHDOFRXOGUHVXOW G;\OHQH ‫؟‬GHWHULRUDWLRQRIWKHUXEEHUVHDOFRXOGUHVXOW H$FHWRQH ‫؟‬UHPRYDORIWKHLQNPDUNLQJVRQWKHYLQ\OVOHHYHFRXOGUHVXOW $WKRURXJKGU\LQJDIWHUFOHDQLQJLVUHTXLUHGWRUHPRYHUHVLGXDOFOHDQLQJVROYHQWVWKDWPD\EHWUDSSHG EHWZHHQWKHFDSDFLWRUDQGWKHFLUFXLWERDUG$YRLGGU\LQJWHPSHUDWXUHVZKLFKH[FHHGWKHXSSHUFDWHJRU\ WHPSHUDWXUHRIWKHFDSDFLWRU 0RQLWRUWKHFRQWDPLQDWLRQOHYHOVRIWKHFOHDQLQJVROYHQWVGXULQJXVHLQWHUPVRIHOHFWULFDOFRQGXFWLYLW\ S+VSHFLILFJUDYLW\RUZDWHUFRQWHQW &KORULQHOHYHOVFDQULVHZLWKFRQWDPLQDWLRQDQGDGYHUVHO\DIIHFWWKHSHUIRUPDQFHRIWKHFDSDFLWRU &RQWUROWKHIOX[GHQVLW\LQWKHFOHDQLQJDJHQWWREHOHVVWKDQPDVV 'HSHQGLQJRQWKHFOHDQLQJPHWKRGWKHPDUNLQJRQDFDSDFLWRUPD\EHHUDVHGRUEOXUUHG ‫پ‬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bWSHUIRUPIXPLJDWLRQWUHDWPHQWWRWKHZKROHHOHFWURQLFDSSOLDQFHVSDFNHGLQDER[ /HDYHPRUHWKDQRIWKHVHDOLQJSRUWLRQRSHQDQGGRQRWFRYHUWKDWSRUWLRQZLWKDQ\DGKHVLYHVRUFRDWLQJ )OX[ ,I\RXXVHDKDORJHQW\SH&KORULQHW\SH%URPLQHW\SHHWFKLJKDFWLYLW\IOX[SOHDVHXVHLWDIWHUFRQILUPDWLRQ LQDGYDQFHDVLWPD\KDYHDQLPSDFWRQSHUIRUPDQFHDQGUHOLDELOLW\RIWKLVSURGXFWGXHWRWKHUHVLGXHRIWKHIOX[ 3UHFDXWLRQVIRUXVLQJFDSDFLWRUV (QYLURQPHQWDOFRQGLWLRQV &DSDFLWRUVVKRXOGQRWEHVWRUHGRUXVHGLQWKHIROORZLQJHQYLURQPHQWV ([SRVXUHWRWHPSHUDWXUHVDERYHWKHXSSHUFDWHJRU\RUEHORZWKHORZHUFDWHJRU\WHPSHUDWXUHRIWKHFDSDFLWRU 'LUHFWFRQWDFWZLWKZDWHUVDOWZDWHURURLO +LJKKXPLGLW\FRQGLWLRQVZKHUHZDWHUFRXOGFRQGHQVHRQWKHFDSDFLWRU ([SRVXUHWRWR[LFJDVHVVXFKDVK\GURJHQVXOILGHVXOIXULFDFLGQLWULFDFLGFKORULQHFKORULQHFRPSRXQG EURPLQHEURPLQHFRPSRXQGRUDPPRQLD ([SRVXUHWRR]RQHUDGLDWLRQRUXOWUDYLROHWUD\V 9LEUDWLRQDQGVKRFNFRQGLWLRQVH[FHHGLQJVSHFLILHGUHTXLUHPHQWV (YHQZLWKLQWKHVSHFLILHGUHTXLUHPHQWVDODUJHYLEUDWLRQDFFHOHUDWLRQPD\EHDSSOLHGGXHWRUHVRQDQFH VREHVXUHWRHYDOXDWHDQGFRQILUPZLWKWKHDFWXDOSURGXFW (OHFWULFDOSUHFDXWLRQV $YRLGWRXFKLQJWKHWHUPLQDOVRIDFDSDFLWRUDVDSRVVLEOHHOHFWULFVKRFNFRXOGUHVXOW7KHH[SRVHG DOXPLQXPFDVHLVQRWLQVXODWHGDQGFRXOGDOVRFDXVHHOHFWULFVKRFNLIWRXFKHG $YRLGVKRUWFLUFXLWLQJWKHDUHDEHWZHHQWKHFDSDFLWRUWHUPLQDOVZLWKFRQGXFWLYHPDWHULDOVLQFOXGLQJOLTXLGV VXFKDVDFLGVRUDONDOLQHVROXWLRQV $ORZPROHFXODUZHLJKWVKLUR[DQHZKLFKLVLQFOXGHGLQDVLOLFRQPDWHULDOVKDOOFDXVHVDEQRUPDOHOHFWULFDO FKDUDFWHULVWLFV 'HF $OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH (PHUJHQF\SURFHGXUHV ,IWKHSUHVVXUHUHOLHIRIWKHFDSDFLWRURSHUDWHVLPPHGLDWHO\WXUQRIIWKHHTXLSPHQWDQGGLVFRQQHFWIURP WKHSRZHUVRXUFH 7KLVZLOOPLQLPL]HDQDGGLWLRQDOGDPDJHFDXVHGE\WKHYDSRUL]LQJHOHFWURO\WH $YRLGFRQWDFWZLWKWKHHVFDSLQJHOHFWURO\WHJDVZKLFKFDQH[FHHG&WHPSHUDWXUHV ,IHOHFWURO\WHRUJDVHQWHUVWKHH\HLPPHGLDWHO\IOXVKWKHH\HZLWKODUJHDPRXQWVRIZDWHU ,IHOHFWURO\WHRUJDVLVLQJHVWHGE\PRXWKJDUJOHZLWKZDWHU ,IHOHFWURO\WHFRQWDFWVWKHVNLQZDVKZLWKVRDSDQGZDWHU /RQJWHUPVWRUDJH 岜/HDNDJHFXUUHQWRIDFDSDFLWRULQFUHDVHVZLWKORQJVWRUDJHWLPHV7KHDOXPLQXPR[LGHILOPGHWHULRUDWHVDVD 岜IXQFWLRQRIWHPSHUDWXUHDQGWLPH 岜,IXVHGZLWKRXWUHFRQGLWLRQLQJDQDEQRUPDOO\KLJKFXUUHQWZLOOEHUHTXLUHGWRUHVWRUHWKHR[LGHILOP 岜7KLVVXUJHFXUUHQWFRXOGFDXVHWKHFLUFXLWRUWKHFDSDFLWRUWRIDLO 岜([SLUDWLRQGDWHLVPRQWKVIURPRXWJRLQJLQVSHFWLRQGDWH 岜+RZHYHUH[SLUDWLRQGDWHIRUVHULHVZKLFKDUHQRWOLVWHGEHORZLVPRQWKVIURPRXWJRLQJLQVSHFWLRQGDWH 6HULHV )&).+'7$73 ([SLUDWLRQGDWH PRQWKVIURP RXWJRLQJ LQVSHFWLRQGDWH )RUVWRUDJHFRQGLWLRQNHHSURRPWHPSHUDWXUH&WR&DQGKXPLGLW\WRZKHUHGLUHFW VXQVKLQHGRHVQ WUHDFK ‫(كق‬QYLURQPHQWDO&RQGLWLRQV 'RQRWVWRUHXQGHUFRQGLWLRQRXWVLGHWKHDUHDGHVFULEHGLQWKHVSHFLILFDWLRQDQGDOVRXQGHUFRQGLWLRQVOLVWHG EHORZ D([SRVXUHWRWHPSHUDWXUHVDERYHWKHXSSHUFDWHJRU\RUEHORZWKHORZHUFDWHJRU\WHPSHUDWXUHRIWKH FDSDFLWRU E'LUHFWFRQWDFWZLWKZDWHUVDOWZDWHURURLO F+LJKKXPLGLW\FRQGLWLRQVZKHUHZDWHUFRXOGFRQGHQVHRQWKHFDSDFLWRU G([SRVXUHWRWR[LFJDVHVVXFKDVK\GURJHQVXOILGHVXOIXULFDFLGQLWULFDFLGFKORULQH&KORULQHFRPSRXQG 岜%URPLQH%URPLQHFRPSRXQGRUDPPRQLD H([SRVXUHWRR]RQHUDGLDWLRQRUXOWUDYLROHWUD\V I9LEUDWLRQDQGVKRFNFRQGLWLRQVH[FHHGLQJVSHFLILHGUHTXLUHPHQWV &DSDFLWRUGLVSRVDO :KHQGLVSRVLQJFDSDFLWRUVXVHRQHRIWKHIROORZLQJPHWKRGV ,QFLQHUDWHDIWHUFUXVKLQJWKHFDSDFLWRURUSXQFWXULQJWKHFDQZDOOWRSUHYHQWH[SORVLRQGXHWRLQWHUQDO SUHVVXUHULVH 'LVSRVHDVVROLGZDVWH 127(/RFDOODZVPD\KDYHVSHFLILFGLVSRVDOUHTXLUHPHQWVZKLFKPXVWEHIROORZHG 7KHSUHFDXWLRQVLQXVLQJDOXPLQXPHOHFWURO\WLFFDSDFLWRUVIROORZWKH6DIHW\DSSOLFDWLRQJXLGH IRUWKHXVHLQIL[HGDOXPLQXPHOHFWURO\WLFFDSDFLWRUVIRUHOHFWURQLFHTXLSPHQW5&5' LVVXHGE\-(,7$LQ2FWREHU 3OHDVHUHIHUWRWKHDERYHDSSOLFDWLRQJXLGHIRUGHWDLOV ‫ٹ‬$(&4岜FRPSOLDQW 7KHSURGXFWVDUHWHVWHGEDVHGRQDOORUSDUWRIWKHWHVWFRQGLWLRQVDQGPHWKRGVGHILQHGLQ$(&4 3OHDVHFRQVXOWZLWK3DQDVRQLFIRUWKHGHWDLOVRIWKHSURGXFWVSHFLILFDWLRQDQGVSHFLILFHYDOXDWLRQWHVWUHVXOWV HWFDQGSOHDVHUHYLHZDQGDSSURYH3DQDVRQLF VSURGXFWVSHFLILFDWLRQEHIRUHRUGHULQJ 'HF