ECEA1EKS100I

Aluminum Electrolytic Capacitors (Radial Lead Type) Low Profile Radial Lead Type Series : KS Type : A KS 5 mm height ↑ KA 7 mm height ↑ M Features ● Endurance : 85 °C 1000 h mm height ● RoHS compliant ●5 Specifications Category temperature range –40 °C to +85 °C Rated voltage range 4 V.DC to 50 V.DC Capacitance range 2.2 µF to 330 µF Capacitance tolerance ±20 % (120 Hz/+20 °C) Leakage current I < 0.01 CV or 3 (µA) After 2 minutes (Whichever is greater) Dissipation factor (tan d) Please see the attached characteristics list After applying rated working voltage for 1000 hours at +85 °C±2 °C, when the capacitors are restored to 20°C capacitors, shall meet the following limits. Endurance Capacitance change Within ±20 % of the initial value (4 V.DC : ±30 %) < 200 % of the initial limit tan d DC leakage current Shelf life Within the initial limit After storage for 1000 hours at +85 °C±2 °C with no voltage applied and then being stabilized at +20 °C, capacitors shall meet the limits specified in Endurance (With voltage treatment) Frequency correction factor for ripple current Frequency (Hz) 50, 60 120 1k 10 k to Correction factor 0.70 1.00 1.30 1.70 Sleeve fd±0.05 Dimensions + L±1.0 14 min. 3 min. 0D±0.5 F±0.5 – (Unit : mm) 0D 4 5 6.3 8 0d 0.45 0.45 0.45 0.45 F 1.5 2.0 2.5 2.5 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. 04 Mar. 2016 Aluminum Electrolytic Capacitors (Radial Lead Type) Characteristics list Endurance : 85 °C 1000 h Case size (mm) Rated Cap. voltage (±20 %) (V.DC) (µF) 4 6.3 4 5 47 4 5 Part No. Taping Taping Straight ✽B ✽i Straight Taping leads (pcs) (pcs) 0.45 1.5 5.0 2.5 ECEA0GKS330( ) 200 2000 0.45 1.5 5.0 2.5 ECEA0GKS470( ) 200 2000 5 5 61 0.35 0.45 2.0 5.0 2.5 ECEA0GKS101( ) 200 2000 5 82 0.35 0.45 2.5 5.0 2.5 ECEA0GKS221( ) 200 2000 22 4 5 29 0.24 0.45 1.5 5.0 2.5 ECEA0JKS220( ) 200 2000 33 5 5 38 0.24 0.45 2.0 5.0 2.5 ECEA0JKS330( ) 200 2000 5 5 46 0.24 0.45 2.0 5.0 2.5 ECEA0JKS470( ) 200 2000 6.3 5 71 0.24 0.45 2.5 5.0 2.5 ECEA0JKS101( ) 200 2000 2.5 ECEA0JKS331( ) 200 1000 47 100 8 5 130 0.24 0.45 8 5 130 0.24 0.45 2.5 ECEA0JKS331Q 5.0 1000 22 5 5 35 0.20 0.45 2.0 5.0 2.5 ECEA1AKS220( ) 200 2000 33 5 5 43 0.20 0.45 2.0 5.0 2.5 ECEA1AKS330( ) 200 2000 47 6.3 5 65 0.20 0.45 2.5 5.0 2.5 ECEA1AKS470( ) 200 2000 100 6.3 5 80 0.20 0.45 2.5 5.0 2.5 ECEA1AKS101( ) 200 2000 8 5 120 0.20 0.45 2.5 2.5 ECEA1AKS221( ) 200 1000 8 5 120 0.20 0.45 4 5 28 0.16 0.45 200 2000 ECEA1AKS221Q 5.0 1.5 5.0 2.5 ECEA1CKS100( ) 1000 22 5 5 39 0.16 0.45 2.0 5.0 2.5 ECEA1CKS220( ) 200 2000 33 6.3 5 60 0.16 0.45 2.5 5.0 2.5 ECEA1CKS330( ) 200 2000 47 6.3 5 70 0.16 0.45 2.5 5.0 8 5 91 0.16 0.45 2.5 8 5 91 0.16 0.45 4 5 22 0.14 0.45 4.7 2.5 ECEA1CKS470( ) 200 2000 2.5 ECEA1CKS101( ) 200 1000 200 2000 ECEA1CKS101Q 5.0 1.5 5.0 2.5 ECEA1EKS4R7( ) 1000 10 5 5 28 0.14 0.45 2.0 5.0 2.5 ECEA1EKS100( ) 200 2000 22 6.3 5 55 0.14 0.45 2.5 5.0 2.5 ECEA1EKS220( ) 200 2000 33 6.3 5 65 0.14 0.45 2.5 5.0 2.5 ECEA1EKS330( ) 200 2000 8 5 85 0.14 0.45 2.5 2.5 ECEA1EKS101( ) 200 1000 8 5 85 0.14 0.45 4 5 16 0.12 0.45 200 2000 100 3.3 ECEA1EKS101Q 5.0 1.5 5.0 2.5 ECEA1VKS3R3( ) 1000 4 5 22 0.12 0.45 1.5 5.0 2.5 ECEA1VKS4R7( ) 200 2000 10 5 5 30 0.12 0.45 2.0 5.0 2.5 ECEA1VKS100( ) 200 2000 22 6.3 5 60 0.12 0.45 2.5 5.0 2.5 ECEA1VKS220( ) 200 2000 8 5 65 0.12 0.45 2.5 2.5 ECEA1VKS330( ) 200 1000 8 5 65 0.12 0.45 4.7 33 ECEA1VKS330Q 5.0 5 85 0.12 0.45 5 85 0.12 0.45 2.2 4 5 16 0.10 0.45 1.5 5.0 2.5 ECEA1HKS2R2( ) 200 2000 3.3 4 5 16 0.10 0.45 1.5 5.0 2.5 ECEA1HKS3R3( ) 200 2000 4.7 22 2.5 ECEA1VKS470( ) 8 10 2.5 1000 8 47 50 Lead space Lead dia. 0d 6.3 100 35 0.35 Min. Packaging Q'ty 100 10 25 34 Lead length (mm) 220 220 16 L 33 330 10 0D Specification Ripple current tan d (120 Hz) (120 Hz) (+85 °C) (+20 °C) (mA r.m.s.) 26 0.35 200 ECEA1VKS470Q 5.0 1000 1000 5 5 23 0.10 0.45 2.0 5.0 2.5 ECEA1HKS4R7( ) 200 2000 6.3 5 35 0.10 0.45 2.5 5.0 2.5 ECEA1HKS100( ) 200 2000 2.5 ECEA1HKS220( ) 200 1000 8 5 60 0.10 0.45 8 5 60 0.10 0.45 2.5 5.0 ECEA1HKS220Q 1000 · When requesting taped product, please put the letter “B” or “i” between the “( )”. Lead wire pitch ✽B=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. 04 Mar. 2016 *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($&+5HJXODWLRQSOHDVHVHOHFW6DOHV,QTXLU\LQWKH ZHEVLWHLQTXLU\IRUPDQGFRQWDFWXV :HGRQRWWDNHDQ\UHVSRQVLELOLW\IRUWKHXVHRIRXUSURGXFWVRXWVLGHWKHVFRSHRIWKH VSHFLILFDWLRQVGHVFULSWLRQVJXLGHOLQHVDQGSUHFDXWLRQVGHVFULEHGLQWKLVRQOLQHFDWDORJ 2FW 1RWLFHV,WHPVWREHREVHUYHG 1RWLFHV ‫ٹ‬$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 2FW $OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH 岜岜$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 2FW $OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH 2YHUYROWDJH 'RQRWDSSO\YROWDJHVH[FHHGLQJWKHPD[LPXPVSHFLILHGUDWHGYROWDJH9ROWDJHVXSWRWKHVXUJHYROWDJH UDWLQJDUHDFFHSWDEOHIRUVKRUWSHULRGVRIWLPH (QVXUHWKDWWKHVXPRIWKH'&YROWDJHDQGWKHVXSHULPSRVHG$&ULSSOHYROWDJHGRHVQRWH[FHHGWKH UDWHGYROWDJH 5LSSOHFXUUHQW 'RQRWDSSO\ULSSOHFXUUHQWVH[FHHGLQJWKHPD[LPXPVSHFLILHGYDOXH)RUKLJKULSSOHFXUUHQWDSSOLFDWLRQV XVHDFDSDFLWRUGHVLJQHGIRUKLJKULSSOHFXUUHQWV,QDGGLWLRQFRQVXOWXVLIWKHDSSOLHGULSSOHFXUUHQWLVWR EHKLJKHUWKDQWKHPD[LPXPVSHFLILHGYDOXH(QVXUHWKDWUDWHGULSSOHFXUUHQWVWKDWVXSHULPSRVHGRQORZ '&ELDVYROWDJHVGRQRWFDXVHUHYHUVHYROWDJHFRQGLWLRQV (YHQLILWLVZLWKLQDUDWHGULSSOHFXUUHQWLQFDVHWKHSUDFWLFDOXVHLVRYHUWKHSUHGHVFULEHGHQGXUDQFH OLIHWLPHLWFDXVHVWKHLQFUHDVHRIGHWHULRUDWLRQRI(65FKDUDFWHULVWLFDQGWKHLQWHUQDOJHQHUDWLRQKHDWE\ ULSSOHFXUUHQW'XHWRWKLVWKHUHLVVRPHSRVVLELOLW\RIYHQWRSHQEXOJLQJRIVOHHYHDQGUXEEHUHOHFWURO\WH OHDNDJHDQGVKRWFLUFXLWH[SORVLRQDQGLJQLWLRQLQWKHZRUVWFDVH 8VLQJWZRRUPRUHFDSDFLWRUVLQSDUDOOHO &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 2FW $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 2FW $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 2FW $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 2FW