EEUFM1E471B

Aluminum Electrolytic Capacitors (Radial Lead Type) Radial Lead Type Series : FM Type : A Features ● Low impedance (40 % to 70 % less than ● Endurance : 105 °C 2000 h to 7000 h ● RoHS compliant FC Series) Attention ● Not applicable for automotive Specifications Category temperature range Rated voltage range Capacitance range Capacitance tolerance Leakage current Dissipation factor (tan d) Endurance Shelf life –40 °C to +105 °C 6.3 V.DC to 50 V.DC 22 µF to 6800 µF ±20 % (120 Hz/+20 °C) I < 0.01 CV (µA) After 2 minutes V.DC 6.3 10 16 25 35 50 (max.) (120 Hz/+20 °C) tan d 0.22 0.19 0.16 0.14 0.12 0.10 Add 0.02 per 1000 µF for products of 1000 µF or more. After following life test with DC voltage and +105 °C±2 °C ripple current value applied. (The sum of DC and ripple peak voltage shall not exceed the rated working voltage) when the capacitors are restored to 20 °C, the capacitors shall meet the limits specified below. Duration 05 to 06.3 : 2000 hours, 08×11.5 to 08×15: 3000 hours 08×20 to 010×16 : 4000 hours, 010×20 to 012.5×20/ 016×20 : 5000 hours 012.5×25 to 012.5×35/ 016×25 : 7000 hours Capacitance change Within ±25 % of the initial value (6.3 V.DC to 10 V.DC : ±30 %) tan d < 200 % of the initial limit DC leakage current Within the initial limit After storage for 1000 hours at +105 °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 Rated voltage (V.DC) 6.3 to 50 Capacitance (µF) 22 47 390 1200 to to to to 60 0.45 0.60 0.65 0.75 33 330 1000 6800 Frequency (Hz) 1k 0.75 0.85 0.90 0.95 120 0.55 0.70 0.75 0.80 10 k 0.90 0.95 0.98 1.00 100 k 1.00 1.00 1.00 1.00 fd±0.05 Dimensions Sleeve Pressure relief 06.3 < < 08 010 < + L✽ ✽ 0D L 0d F 14 min. 0D±0.5 3 min. F±0.5 – 0D±0.5 L < 16 : L±1.5 L > 20 : L±2.0 5 — 0.5 2.0 (Unit : mm) 6.3 — 0.5 2.5 8 — 0.6 3.5 10 — 0.6 5.0 12.5 12.5 to 25 30 to 40 0.6 0.8 5.0 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. 02 16 — 0.8 7.5 Mar. 2016 Aluminum Electrolytic Capacitors (Radial Lead Type) Case size/ Impedance/ Ripple current Rated voltage (V.DC) Case size (mm) (0D×L) 5 × 11 6.3 V.DC to 35 V.DC Impedance (Ω/100 kHz) +20 °C –10 °C 50 V.DC Ripple current (mA r.m.s./100 kHz) +105 °C Impedance (Ω/100 kHz) +20 °C –10 °C Ripple current (mA r.m.s./100 kHz) +105 °C 0.300 1.000 280 0.340 1.130 250 6.3 × 11.2 0.130 0.430 455 0.140 0.460 405 8 × 11.5 0.056 0.168 950 0.061 0.183 870 8 × 15 0.041 0.123 1240 0.045 0.135 1140 8 × 20 0.030 0.090 1560 0.033 0.099 1430 10 × 12.5 0.038 0.114 1290 0.042 0.126 1170 10 × 16 0.026 0.078 1790 0.030 0.090 1650 10 × 20 0.019 0.057 2180 0.023 0.069 1890 10 × 25 0.018 0.054 2470 0.022 0.066 2150 12.5 × 20 0.018 0.045 2600 0.022 0.055 2260 12.5 × 25 0.015 0.038 3190 0.018 0.045 2660 12.5 × 30 0.013 0.033 3630 0.016 0.040 3160 12.5 × 35 0.012 0.030 3750 0.014 0.035 3270 16 × 20 0.017 0.043 3300 0.019 0.048 2870 16 × 25 0.014 0.035 3820 0.016 0.040 3320 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. 02 Mar. 2016 Aluminum Electrolytic Capacitors (Radial Lead Type) Characteristics list Case size (mm) Rated Cap. voltage (±20 %) (V.DC) (µF) 150 330 560 820 1000 1200 6.3 1500 2200 3300 3900 4700 5600 6800 100 220 470 680 1000 10 1200 1500 2200 3300 3900 4700 5600 68 120 330 470 680 16 1000 1200 1500 2200 2700 3300 3900 0D 5 6.3 8 8 10 8 10 10 10 12.5 12.5 12.5 12.5 16 16 5 6.3 8 8 10 8 10 10 10 12.5 12.5 12.5 16 12.5 16 5 6.3 8 8 10 8 10 10 10 12.5 12.5 12.5 16 12.5 16 Specification Lead length (mm) Ripple Lead space Impedance current Endurance Lead (100 kHz) (100 kHz) (hours) dia. L Taping Taping (+20 °C) (+105 °C) 0d Straight ✽B ✽H (Ω) (mA r.m.s.) 11 280 0.300 2000 0.5 2.0 5.0 2.5 11.2 455 0.130 2000 0.5 2.5 5.0 2.5 11.5 950 0.056 3000 0.6 3.5 5.0 15 1240 0.041 3000 0.6 3.5 5.0 12.5 1290 0.038 4000 0.6 5.0 5.0 20 1560 0.030 4000 0.6 3.5 5.0 16 1790 0.026 4000 0.6 5.0 5.0 20 2180 0.019 5000 0.6 5.0 5.0 25 2470 0.018 5000 0.6 5.0 5.0 20 2600 0.018 5000 0.6 5.0 5.0 25 3190 0.015 7000 0.6 5.0 5.0 30 3630 0.013 7000 0.8 5.0 35 3750 0.012 7000 0.8 5.0 20 3300 0.017 5000 0.8 7.5 7.5 25 3820 0.014 7000 0.8 7.5 7.5 11 280 0.300 2000 0.5 2.0 5.0 2.5 11.2 455 0.130 2000 0.5 2.5 5.0 2.5 11.5 950 0.056 3000 0.6 3.5 5.0 15 1240 0.041 3000 0.6 3.5 5.0 12.5 1290 0.038 4000 0.6 5.0 5.0 20 1560 0.030 4000 0.6 3.5 5.0 16 1790 0.026 4000 0.6 5.0 5.0 20 2180 0.019 5000 0.6 5.0 5.0 25 2470 0.018 5000 0.6 5.0 5.0 20 2600 0.018 5000 0.6 5.0 5.0 25 3190 0.015 7000 0.6 5.0 5.0 30 3630 0.013 7000 0.8 5.0 20 3300 0.017 5000 0.8 7.5 7.5 35 3750 0.012 7000 0.8 5.0 25 3820 0.014 7000 0.8 7.5 7.5 11 280 0.300 2000 0.5 2.0 5.0 2.5 11.2 455 0.130 2000 0.5 2.5 5.0 2.5 11.5 950 0.056 3000 0.6 3.5 5.0 15 1240 0.041 3000 0.6 3.5 5.0 12.5 1290 0.038 4000 0.6 5.0 5.0 20 1560 0.030 4000 0.6 3.5 5.0 16 1790 0.026 4000 0.6 5.0 5.0 20 2180 0.019 5000 0.6 5.0 5.0 25 2470 0.018 5000 0.6 5.0 5.0 20 2600 0.018 5000 0.6 5.0 5.0 25 3190 0.015 7000 0.6 5.0 5.0 30 3630 0.013 7000 0.8 5.0 20 3300 0.017 5000 0.8 7.5 7.5 35 3750 0.012 7000 0.8 5.0 25 3820 0.014 7000 0.8 7.5 7.5 Min. Packaging Q'ty Part No. EEUFM0J151( ) EEUFM0J331( ) EEUFM0J561( ) EEUFM0J821L( ) EEUFM0J102( ) EEUFM0J122L( ) EEUFM0J122( ) EEUFM0J152( ) EEUFM0J222L( ) EEUFM0J332( ) EEUFM0J392( ) EEUFM0J472L EEUFM0J562L EEUFM0J562S( ) EEUFM0J682( ) EEUFM1A101( ) EEUFM1A221( ) EEUFM1A471( ) EEUFM1A681L( ) EEUFM1A681( ) EEUFM1A102L( ) EEUFM1A102( ) EEUFM1A122( ) EEUFM1A152L( ) EEUFM1A222( ) EEUFM1A332( ) EEUFM1A392L EEUFM1A392S( ) EEUFM1A472L EEUFM1A562( ) EEUFM1C680( ) EEUFM1C121( ) EEUFM1C331( ) EEUFM1C471L( ) EEUFM1C471( ) EEUFM1C681L( ) EEUFM1C681( ) EEUFM1C102( ) EEUFM1C122L( ) EEUFM1C152( ) EEUFM1C222( ) EEUFM1C272L EEUFM1C272S( ) EEUFM1C332L EEUFM1C392( ) Long Taping lead (pcs) (pcs) 200 200 200 200 200 200 200 200 200 200 200 100 100 100 100 200 200 200 200 200 200 200 200 200 200 200 100 100 100 100 200 200 200 200 200 200 200 200 200 200 200 100 100 100 100 2000 2000 1000 1000 500 1000 500 500 500 500 500 250 250 2000 2000 1000 1000 500 1000 500 500 500 500 500 250 250 2000 2000 1000 1000 500 1000 500 500 500 500 500 250 250 · When requesting taped product, please put the letter "B" or "H" between the "( )". Lead wire pitch ✽B=5 mm, 7.5 mm, H=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. 02 Mar. 2016 Aluminum Electrolytic Capacitors (Radial Lead Type) Characteristics list Case size (mm) Rated Cap. voltage (±20 %) (V.DC) (µF) 47 100 220 330 470 25 680 820 1000 1500 1800 2200 2700 33 68 150 220 330 35 470 560 680 1000 1200 50 1500 1800 22 56 100 120 150 180 220 270 330 470 560 680 820 1000 0D 5 6.3 8 8 10 8 10 10 10 12.5 12.5 12.5 16 12.5 16 5 6.3 8 8 10 8 10 10 10 12.5 12.5 12.5 16 12.5 16 5 6.3 8 8 10 8 10 10 10 12.5 12.5 12.5 12.5 16 16 Specification Lead length (mm) Ripple Lead space Impedance current Endurance Lead (100 kHz) (100 kHz) (hours) dia. L Taping Taping (+20 °C) (+105 °C) 0d Straight ✽B ✽H (Ω) (mA r.m.s.) 11 280 0.300 2000 0.5 2.0 5.0 2.5 11.2 455 0.130 2000 0.5 2.5 5.0 2.5 11.5 950 0.056 3000 0.6 3.5 5.0 15 1240 0.041 3000 0.6 3.5 5.0 12.5 1290 0.038 4000 0.6 5.0 5.0 20 1560 0.030 4000 0.6 3.5 5.0 16 1790 0.026 4000 0.6 5.0 5.0 20 2180 0.019 5000 0.6 5.0 5.0 25 2470 0.018 5000 0.6 5.0 5.0 20 2600 0.018 5000 0.6 5.0 5.0 25 3190 0.015 7000 0.6 5.0 5.0 30 3630 0.013 7000 0.8 5.0 20 3300 0.017 5000 0.8 7.5 7.5 35 3750 0.012 7000 0.8 5.0 25 3820 0.014 7000 0.8 7.5 7.5 11 280 0.300 2000 0.5 2.0 5.0 2.5 11.2 455 0.130 2000 0.5 2.5 5.0 2.5 11.5 950 0.056 3000 0.6 3.5 5.0 15 1240 0.041 3000 0.6 3.5 5.0 12.5 1290 0.038 4000 0.6 5.0 5.0 20 1560 0.030 4000 0.6 3.5 5.0 16 1790 0.026 4000 0.6 5.0 5.0 20 2180 0.019 5000 0.6 5.0 5.0 25 2470 0.018 5000 0.6 5.0 5.0 20 2600 0.018 5000 0.6 5.0 5.0 25 3190 0.015 7000 0.6 5.0 5.0 30 3630 0.013 7000 0.8 5.0 20 3300 0.017 5000 0.8 7.5 7.5 35 3750 0.012 7000 0.8 5.0 25 3820 0.014 7000 0.8 7.5 7.5 11 250 0.340 2000 0.5 2.0 5.0 2.5 11.2 405 0.140 2000 0.5 2.5 5.0 2.5 11.5 870 0.061 3000 0.6 3.5 5.0 15 1140 0.045 3000 0.6 3.5 5.0 12.5 1170 0.042 4000 0.6 5.0 5.0 20 1430 0.033 4000 0.6 3.5 5.0 16 1650 0.030 4000 0.6 5.0 5.0 20 1890 0.023 5000 0.6 5.0 5.0 25 2150 0.022 5000 0.6 5.0 5.0 20 2260 0.022 5000 0.6 5.0 5.0 25 2660 0.018 7000 0.6 5.0 5.0 30 3160 0.016 7000 0.8 5.0 35 3270 0.014 7000 0.8 5.0 20 2870 0.019 5000 0.8 7.5 7.5 25 3320 0.016 7000 0.8 7.5 7.5 Min. Packaging Q'ty Part No. EEUFM1E470( ) EEUFM1E101( ) EEUFM1E221( ) EEUFM1E331L( ) EEUFM1E331( ) EEUFM1E471L( ) EEUFM1E471( ) EEUFM1E681( ) EEUFM1E821L( ) EEUFM1E102( ) EEUFM1E152( ) EEUFM1E182L EEUFM1E182S( ) EEUFM1E222L EEUFM1E272( ) EEUFM1V330( ) EEUFM1V680( ) EEUFM1V151( ) EEUFM1V221L( ) EEUFM1V221( ) EEUFM1V331L( ) EEUFM1V331( ) EEUFM1V471( ) EEUFM1V561L( ) EEUFM1V681( ) EEUFM1V102( ) EEUFM1V122L EEUFM1V122S( ) EEUFM1V152L EEUFM1V182( ) EEUFM1H220( ) EEUFM1H560( ) EEUFM1H101( ) EEUFM1H121L( ) EEUFM1H151( ) EEUFM1H181L( ) EEUFM1H221( ) EEUFM1H271( ) EEUFM1H331L( ) EEUFM1H471( ) EEUFM1H561( ) EEUFM1H681L EEUFM1H821L EEUFM1H821S( ) EEUFM1H102( ) Long Taping lead (pcs) (pcs) 200 200 200 200 200 200 200 200 200 200 200 100 100 100 100 200 200 200 200 200 200 200 200 200 200 200 100 100 100 100 200 200 200 200 200 200 200 200 200 200 200 100 100 100 100 2000 2000 1000 1000 500 1000 500 500 500 500 500 250 250 2000 2000 1000 1000 500 1000 500 500 500 500 500 250 250 2000 2000 1000 1000 500 1000 500 500 500 500 500 250 250 · When requesting taped product, please put the letter "B" or "H" between the "( )". Lead wire pitch ✽B=5 mm, 7.5 mm, H=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. 02 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 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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 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 ‫پ‬3OHDVHFRQVXOWXVLI\RXDUHQRWFHUWDLQDERXWDFFHSWDEOHFOHDQLQJVROYHQWVRUFOHDQLQJPHWKRGV 0RXQWLQJDGKHVLYHVDQGFRDWLQJDJHQWV :KHQXVLQJPRXQWLQJDGKHVLYHVRUFRDWLQJDJHQWVWRFRQWUROKXPLGLW\DYRLGXVLQJPDWHULDOVFRQWDLQLQJ KDORJHQDWHGVROYHQWV $OVRDYRLGWKHXVHRIFKORURSUHQHEDVHGSRO\PHUV +DUGHQRQGU\DGKHVLYHRUFRDWLQJDJHQWVZHOOOHVWWKHVROYHQWVKRXOGEHOHIW $IWHUDSSO\LQJDGKHVLYHVRUFRDWLQJVGU\WKRURXJKO\WRSUHYHQWUHVLGXDOVROYHQWVIURPEHLQJWUDSSHGEHWZHHQ WKHFDSDFLWRUDQGWKHFLUFXLWERDUG )XPLJDWLRQ ,QH[SRUWLQJHOHFWURQLFDSSOLDQFHVZLWKDOXPLQXPHOHFWURO\WLFFDSDFLWRUVLQVRPHFDVHVIXPLJDWLRQWUHDWPHQW XVLQJVXFKKDORJHQFRPSRXQGDVPHWK\OEURPLGHLVFRQGXFWHGIRUZRRGHQER[HV ,IVXFKER[HVDUHQRWGULHGZHOOWKHKDORJHQOHIWLQWKHER[LVGLVSHUVHGZKLOHWUDQVSRUWHGDQGHQWHUVLQWKH FDSDFLWRUVLQVLGH 7KLVSRVVLEO\FDXVHVHOHFWULFDOFRUURVLRQRIWKHFDSDFLWRUV7KHUHIRUHDIWHUSHUIRUPLQJIXPLJDWLRQDQGGU\LQJ PDNHVXUHWKDWQRKDORJHQLVOHIW 'RQbWSHUIRUPIXPLJDWLRQWUHDWPHQWWRWKHZKROHHOHFWURQLFDSSOLDQFHVSDFNHGLQDER[ /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