.LWFKHQ 6XSSOLHV _
$ $ 6WDLQOHVV 6WHHO 0HDVXULQJ &XSV (YHU\ NLWFKHQ VKRXOG KDYH D VHW RI WKHVH VWDLQOHVV VWHHO PHDVXULQJ FXSV $YDLODEOH LQ D VHW ZKLFK LQFOXGHV FXS FXS FXS DQG FXS VL]HV 0RGHO 'HVFULSWLRQ 0&: :LUH +DQGOH 6HW RI 0&: :LUH +DQGOH &XS 0&: :LUH +DQGOH &XS 0&: :LUH +DQGOH &XS 0&: :LUH +DQGOH &XS 0&: :LUH +DQGOH &XS 0&: :LUH +DQGOH &XS 0&: :LUH +DQGOH &XS 0&: :LUH +DQGOH &XS 0&: :LUH +DQGOH &XS
' )RUVFKVKLHOG &XW 5HVLVWDQW *ORYHV 1HZ DQG ,PSURYHG 2IIHULQJ /HYHO DQG /HYHO FXW UHVLVWDQFH IRU VDIHW\ DQG GXUDELOLW\ )RXU JORYHV WR FKRRVH IURP WR ILW WKH WDVN DW KDQG (DFK RIIHUV RXWVWDQGLQJ FXW SURWHFWLRQ DQG DPD]LQJ GH[WHULW\ IRU WKH XOWLPDWH ZHDUDELOLW\ DQG IRU WKH VDIHW\ RI \RXU ZRUNHUV $PELGH[WURXV &RQVWUXFWHG RI )'$ DQG 86'$ PDWHULDOV WKDW DUH ZDVKDEOH EOHDFK VDIH DQG FRQWDLQ DQWL PLFURELDO SURSHUWLHV IRU DGGHG VDIHW\ 3/86 3HUIRUPDQFH),7 LV QRZ DYDLODEOH LQ IRXU ³RQH VL]H ILWV PRVW´ H[FLWLQJ QHRQ FRORUV (DV\ WR ' VSRW IURP DQ\ZKHUH LQ WKH NLWFKHQ 0RGHO 'HVFULSWLRQ 3HUIRUPDQFH6KLHOG ; 6PDOO &ODPVKHOO
3HUIRUPDQFH6KLHOG 6PDOO &ODPVKHOO
3HUIRUPDQFH6KLHOG 0HGLXP &ODPVKHOO
3HUIRUPDQFH6KLHOG /DUJH &ODPVKHOO
3HUIRUPDQFH6KLHOG ; /DUJH &ODPVKHOO
$GGLWLRQDO VL]HV DQG VW\OH DYDLODEOH
( $5& )UXLW 9HJHWDEOH 6OLFHUV $5& ²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
(
% 5HGFR ,QVWD6OLFH 3RS LQ SRS RXW EODGH DVVHPEO\ IRU HDV\ FOHDQLQJ DQG PDLQWHQDQFH 7KHUPRVHW EODGH IUDPHV QHYHU QHHG DGMXVWPHQW DQG ZLOO QRW FRUURGH &RUURVLRQ UHVLVWDQW SRO\XUHWKDQH IRRG FDUULHU +DUGFRDW SXVKHU KHDG ILQJHUV UHVLVW FRUURVLRQ IURP WRPDWR DFLGV DQG RWKHU KDUVK IRRGV 'HWDFKDEOH WDEOH VWRS DVVXUHV SURFHVVRU ZLOO VWD\ LQ SODFH $YDLODEOH ZLWK VWUDLJKW RU VFDOORSHG EODGHV DOORZLQJ VOLFLQJ RI WRPDWRHV ZLWKRXW µSUH VFRULQJ¶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
'LFH 7DEOHWRS
'LFH 7DEOHWRS
6OLFH 7DEOHWRS
6OLFH 7DEOHWRS
6OLFH 7DEOHWRS
'LFH %ODGH $VVHPEO\ 'LFH %ODGH $VVHPEO\ 6OLFH %ODGH $VVHPEO\ $GGLWLRQDO PRGHOV DYDLODEOH
)
) 7RPDWR /DVHU 6OLFHU 6XUH \RX¶YH EHHQ VOLFLQJ WRPDWRHV ZLWK WKRVH ¶V VW\OH DOXPLQXP WRPDWR VOLFHUV IRU D ORQJ WLPH EXW \RX¶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