ࡱ> yebjbj*t{{EEEEEYYY8,\YK./// ", 81K3K3K3K3K3K3K$LO>WK-E@  @@WKEE//KGGG@%E/E/1KG@1KGGEJJ/Hz=R JKK0KJO:GO(JOEJ @@G@@@@@WKWKG@@@K@@@@O@@@@@@@@@? : V=VAB5@AB2> >A2VB8 #:@0W=8 %0@:V2AL:89 45@602=89 ?5403>3VG=89 C=V25@A8B5B V<. .!. !:>2>@>48 =AB8BCB ?VA;O48?;><=>W >A2VB8 !!" #', ) .",  !&, !""#!  ! 8?;><=0 @>1>B0 A;CE0G0 =AB8BCBC ?VA;O48?;><=>W >A2VB8 7V A?5FV0;L=>ABV  A8E>;>3VO !BT10T2>W 0@8A8 >;>48<8@V2=8 0C:>289 :5@V2=8:  ".. C@02;L>20 %0@:V2 2000 <VAB ABC? A. I. !CG0A=89 AB0= 282G5==O ?@>1;5<8  >A>18ABVABL 2 A8AB5<V <V6>A>18ABVA=8E 2V4=>A8= 2 ?A8E>;>3>-?5403>3VG=V9 ;VB5@0BC@V A. II. A>1;82>ABV ?V4;VB:>2>3> 2V:C A. . :A?5@8<5=B0;L=5 4>A;V465==O >A>18ABVA=8E >A>1;82>AB59 ?V4;VB:V2, I> <0NBL @V7=89 A>FV0;L=89 AB0BCA 2 :;0AV A. III.1. 030;L=V ?8B0==O >@30=V70FVW 4>A;V465==O. %0@0:B5@8AB8:0 281>@:8 A. III.2. 5B>48 B0 <5B>48:8 4>A;V465==O A. III.3. 57C;LB0B8 4>A;V465==O B0 WE 0=0;V7 A. IY. 8A=>2:8 A. VB5@0BC@0 A. >40B>: A. !"# "5<0 =0H>W 48?;><=>W @>1>B8   A>1;82>ABV CG=V2, I> <0NBL @V7=89 A>FV0;L=89 AB0BCA 2 :;0AV . 81V@ B5<8 >1C<>2;5=89 O: =0H8< >A>18AB8< V=B5@5A>< 4> FVTW ?@>1;5<8, B0: W <>6;82VABN ?@0:B8G=>3> 28:>@8AB0==O @57C;LB0BV2 4>A;V465==O 2 4VO;L=>ABV H:V;L=>3> ?A8E>;>30, 2G8B5;O, :;0A=>3> :5@V2=8:0. :BC0;L=VABL B5<8 ?>2 O70=> 7 >A>1;82>ABO<8 ACG0A=>W H:V;L=>W A8BC0FVW B0 =0O2=VABN ?@>1;5< <V6 ?V4;VB:0<8 B0 4>@>A;8<8 B0 ?@>1;5< C ?V4;VB:>2><C A5@54>28I5. V4><>, I> =5>1EV4=VABL 287=0==O 7 1>:C >B>GCNG8E 2 :>=B0:B0E 7 @>25A=8:0<8  F5 68BBT409=5 =>2>CB2>@5==O ?V4;VB:>2>3> 2V:C. !0<5 B><C BV9 G8 V=H89 A>FV0;L=89 AB0BCA ?V4;VB:0 =5 BV;L:8 >1C<>2;NTBLAO 9>3> >A>18ABVA=8<8 >A>1;82>ABO<8, 0;5 9 2;820T =0 =8E B0 =0 AB0= DV78G=>3> B0 5<>FV9=>3> 1;03>?>;CGGO ?V4;VB:0. =0:H5 :06CG8, ?>;>65==O CG=O 2 A8AB5<V <V6>A>18ABVA=8E 2V4=>A8= 287=0G0T A?>AV1 9>3> 68BBO, 70157?5GCT D>@<C20==O, B@0=AD>@<0FVN B0 70:@V?;5==O 2;0AB82>AB59, O:V CB2>@NNBL 9>3> ?A8E>;>3VG=89 A:;04. /:I> 1V;LHVABL >4=>:;0A=8:V2 A8<?0B87CNBL CG=N, 7 @04VABN A?V;:CNBLAO 7 =8<, 7 704>2>;5==O< ?@89<0NBL 4> 3@8, B> F5 AB2>@NT ?5@54C<>28 4;O D>@<C20==O C =L>3> B>20@8AL:>2ABV, 4>1@>78G;82>ABV, 4@C65;N1=>ABV. 5 <>65 157A;V4=> ?@>9B8 4;O >A>18AB>ABV CG=O V B0:5 9>3> ?>;>65==O 2 :;0AV, :>;8 9><C =VEB> 01> <0965 =VEB> =5 A8<?0B87CT, :>;8 2V= 2V4GC20T 2;0A=C 7092VABL B0 A0<>B=VABL.0 ?V4AB02V B0:8E 270T<>2V4=>A8= C CG=O <>6CBL AD>@<C20B8AO 70<:=5=VABL, ?>E<C@VABL, >7;>1;5=VABL. C65 206;82> A2>TG0A=> 2AB0=>28B8 D0:B8G=5 ?>;>65==O ?>;>65==O CG=O 2 :;0AV, 9>3> A>FV0;L=89 AB0BCA B0 ?@8 =5>1EV4=>ABV (2 =530B82=8E 28?04:0E) 4>?><>3B8 9><C 7<V=8B8 A8BC0FVN. 70T<=V A8<?0BVW, I> 28=8:0NBL <C6 CG=O<8, <>6CBL >1C<>28B8 28=8:=5==O 2A5@545=V :;0A=>3> :>;5:B82C >:@5<8E, =V45 D>@<0;L=> =5 70DV:A>20=8E 3@C?V@>2>:. >6;82>, I> A0<5 B0:0 3@C?V@>2:0 4;O ?V4;VB:0 AB0=>28BLAO 1V;LH 7=0GCI>N, =V6 >DVFV9=89 0:B82 :;0AC. @>7C<V;>, I> 2 40=><C 28?04:C 28E>20==O G5@57 B0 70 4>?><>3>N :>;5:B82C =04<V@=> CA:;04=NTBLAO, >A:V;L:8 28<>38 :>;5:B82C <>6CBL 2=CB@VH=L> A?@89<0B8AO H:>;O@0<8 O: B0:V, I> =5 2V4?>2V40NBL FV==>ABO< B0 =0AB0=>20< @5D5@5=B=>W 3@C?8. !0<5 FL><C 282G5==O <V6>A>18ABVA=8E 2V4=>A8= CG=V2, 2?;82C A>FV0;L=>3> A5@54>28I0 =0 ?@>F5A AB0=>2;5==O B0 D>@<C20==O >A>18AB>ABV ?V4;VB:0 =01C20T >A>1;82C 0:BC0;L=VABL. &N B5<C 1C;> 4>A;V465=> 2 ?@0FOE .. >40;520, .. 5B@>2AL:>3>, .. 1>7>20, /.. >;><V=AL:>3>, .. =0= T20, .!. >=0, .. (?0;V=AL:>3>, 6. >@5=> B0 V=H8E. 5=H 4>A;V465=> B0:V 0A?5:B8 ?@>1;5<8: =0O2=VABL 01> 2V4ACB=VABL ?52=8E >A>18ABVA=8E O:>AB59, I> ?@872>4OBL 4> 70:@V?;5==O 70 48B8=>N B>3> G8 V=H>3> A>FV0;L=>3> AB0BCAC; A?V22V4=>H5==O B0 ABC?V=L 28O2;5==O F8E O:>AB59 C CG=V2, I> <0NBL @V7=89 A>FV0;L=89 AB0BCA; <>6;82>ABV B0 >A>1;82>ABV ?A8E>:>@5:FV9=>W @>1>B8 I>4> ?>;V?H5==O A8BC0FVW. # 72 O7:C 7 F8< 287=0G0NBLAO >1 T:B B0 ?@54<5B =0H>3> 4>A;V465==O. 1 T:B 4>A;V465==O: >A>18ABVA=V >A>1;82>ABV ?V4;VB:V2. @54<5B 4>A;V465==O: >A>18ABVA=V >A>1;82>ABV ?V4;VB:V2, I> <0NBL ?>;O@=89 A>FV0;L=89 AB0BCA 2 :;0AV. 5B0 4>A;V465==O: B5>@5B8G=> >13@C=BC20B8 B0 5:A?5@8<5=B0;L=> ?5@52V@8B8 72 O7>: A>FV0;L=>3> AB0BCAC V >A>18ABVA=8E >A>1;82>AB59 CG=V2 AB0@H8E :;0AV2. 040G8 4>A;V465==O: 82G8B8 B0 ?@>0=0;V7C20B8 ACG0A=C ?A8E>;>3>-?5403>3VG=C ;VB5@0BC@C 7 ?@>1;5< ?V4;VB:>2>3> 2V:C. 82G8B8 B0 ?@>0=0;V7C20B8 ACG0A=C ?A8E>;>3>-?5403>3VG=C ;VB5@0BC@C 7 ?@>1;5<8 <V6>A>18ABVA=8E 2V4=>A8=. >A;V48B8 >A>18ABVA=V >A>1;82>ABV (7>:@5<0 03@5A82=VABL B0 B@82>6=VABL) ?V4;VB:V2, I> <0NBL ?>;O@=89 A>FV0;L=89 AB0BCA. @>18B8 <0B5<0B8G=C >1@>1:C B0 ?>@V2=O;L=89 0=0;V7 >B@8<0=8E @57C;LB0BV2. 0?@>?>=C20B8 ?@>3@0<C ?A8E>:>@5:FV9=>W @>1>B8 7 ?V4;VB:0<8, I> <0NBL A>FV0;L=89 AB0BCA  2V425@65=8E . V?>B570 4>A;V465==O: V4;VB:8, I> <0NBL ?>;O@=89 A>FV0;L=89 AB0BCA 2 :;0AV ( 7V@:8 B0  2V425@65=V ) 2V4@V7=ONBLAO 2V4 V=H8E CG=V2 1V;LH 28A>:8< ABC?V=T< 28@065==O B0:8E >A>18ABVA=8E O:>AB59, O: B@82>6=VABL B0 03@5A82=VABL, 0;5 ?@8G8=8 FL>3> C =8E =5>4=0:>2V. 0C:>20 =>287=0 B0 ?@0:B8G=0 FV==VABL @>1>B8 T 2 B><C, I> WW @57C;LB0B8 <>6CBL 1CB8 28:>@8AB0=V 2 ?@0:B8G=V9 @>1>BV H:V;L=>3> ?A8E>;>30 B0 A;C68B8 ?V4AB02>N 4;O A:;040==O W< 2;0A=8E ?@>3@0< ?A8E>:>@5:FV9=8E 70E>4V2 7 ?@>1;5<8 03@5A82=>ABV B0 B@82>6=>ABV CG=V2 AB0@H8E :;0AV2, I> <0NBL @V7=89 A>FV0;L=89 AB0BCA. :A?5@8<5=B B0 0?@>10FVO =0A;V4:V2 4>A;V465==O 1C;> ?@>2545=> =0 107V A5@54=L>W H:>;8 ! 121 <VAB0 %0@:>20. !B@C:BC@0 @>1>B8: @>1>B0 A:;040TBLAO 7V 2ABC?C, B@L>E 3;02, 28A=>2:V2, 70:;NG5==O, 4>40B:C, A?8A:C 28:>@8AB0=>W ;VB5@0BC@8 2 :V;L:>ABV 65 ?@8<V@=8:V2. CCG0A=89 AB0= 282G5==O ?@>1;5<8  >A>18ABVABL 2 A8AB5<V <V6>A>18ABVA=8E 2V4=>A8= 2 ?A8E>;>3>-?5403>3VG=V9 ;VB5@0BC@V.  A>FV0;L=>-?A8E>;>3VG=V9 ;VB5@0BC@V 28A;>2;NNBLAO @V7=><0=VB=V B>G:8 7>@C =0 ?8B0==O ?@> B5, 45  @>7<VI5=V <V6>A>18ABVA=V 2V4=>A8=8, =0A0<?5@54 2V4=>A=> A8AB5<8 ACA?V;L=8E 2V4=>A8=. =:>;8 WE @>73;O40NBL 2 >4=><C @O4C 7 ACA?V;L=8<8 2V4=>A8=0<8 C 70A=C20==V WE =0 A0<><C 25@E=L><C @V2=V. 8 AE8;OT<>AL 4> B>3>, I> VA=C20==O <V6>A>18ABVA=8E 2V4=>A8= 2A5@545=V @V7=><0=VB=8E D>@< ACA?V;L=8E 2V4=>A8= 2 4VO;L=>ABV :>=:@5B=8E >A>18AB>AB59, 2 0:B0E WE A?V;:C20==O B0 270T<>4VW. @8@>40 <V6>A>18ABVA=8E 2V4=>A8= ACBBT2> 2V4@V7=OTBLAO 2V4 ?@8@>48 ACA?V;L=8E 2V4=>A8=: WE 206;82VH0 A?5F8DVG=0 @8A0  5<>FV9=0 >A=>20. "><C <V6>A>18ABVA=V 2V4=>A8=8 <>6=0 @>73;O40B8 O: D0:B>@ ?A8E>;>3VG=>3> :;V<0BC 3@C?8. <>FV9=0 >A=>20 <V6>A>18ABVA=8E 2V4=>A8= >7=0G0T, I> 2>=8 28=8:0NBL B0 AB2>@NNBLAO =0 >A=>2V ?52=8E ?>GCBBV2, I> =0@>46CNBLAO C ;N459 C 2V4=>H5==V >48= 4> >4=>3>. 4=0:, ?@0:B8G=> 2V4=>A8=8 <V6 ;N4L<8 =5 A:;040NBLAO ;8H5 =0 >A=>2V 157?>A5@54=VE 5<>FV9=8E :><?>=5=BV2. "><C 4C65 206;82>N B0 A:;04=>N 7040G5N A>FV0;L=>3W ?A8E>;>3VW T >4=>G0A=89 0=0;V7 42>E @O4V2 2V4=>A8= 2 3@C?V: O: <V6><>18ABVA=8E, B0: V >?>A5@54:>20=8E A?V;L=>N 4VO;L=VABN. =0;V7 <V6>A>18ABVA=8E 2V4=>A8=, I> A:;040TBLAO =V 45AL ?>70 ACA?V;L=8<8 2V4=>A8=0<8, 0 2A5@548=V =8E, 4>72>;OT @>7AB028B8 ?@028;L=V 0:F5=B8 C ?8B0==V ?@> <VAF5 A?V;:C20==O 2 CAV9 A:;04=V9 A8AB5<V 72 O7:V2 ;N48=8 7 7>2=VH=V< A2VB><. 18420 @O48 2V4=>A8= ;N48=8, ACA?V;L=V B0 <V6>A>18ABVA=V, @50;V7CNBLAO A0<5 C A?V;:C20==V.   =>@<0;L=8E >1AB028=0E 2V4=>H5==O ;N48=8 4> >B>GCNG>3> WW ?@54<5B=>3> A2VBC, - 3>2>@8BL .. 5>=B T2, - 702648 >?>A5@54:>20=> WW 2V4=>H5==O< 4> ;N459, 4> ACA?V;LAB20 [].  =BC0= 45 !5=B-:7N?5@V =0<0;N202 ?>5B8G=89 >1@07 A?V;:C20==O O:  T48=>W @>7:>HV, :>B@C <0T ;N48=0 []. @8B5@V9  2V4=>H5==O =0;568BL, 70 28A;>2;5==O< .. '5@=>20, 4> B8E  A0<8E ?@>AB8E V A0<8E 7030;L=8E 01AB@0FV9 A2VBC [], O:V 206:>28@065=V, 0;5 =0ABV;L:8 2AV< 7@>7C<V;V, I> A0<V 28:>@8AB>2CNBLAO 2 287=0G5==O DV;>A>DAL:8E :0L53>@V9. >6;82>, A0<5 ?>7V@=0 V=BCVB82=0 OA=VABL B>3>, I> <0TBLAO =0 C207V, :>;8 28:>@8AB>2CNBL F5 ?>=OBBO, O2;OTBLAO ?@8G8=>N @V7=>G8B0=L B0 @>71V6=>AB59, O:V ;53:> 28O2;ONBLAO ?@8 A?5FV0;L=><C 0=0;V7V. 0G0ABVH5  2V4=>H5==O 287=0G0TBLAO G5@57  72 O7>: , O:89 A0< 2 FL><C 28?04:C 70;8H0TBLAO 157 287=0G5==O. /: ?@8:;04 =02545<> 287=0G5==O, I> C<VI5=> 2 >4=><C 7 =>28E A;>2=8:V2:  2V4=>H5==O (relation)  D>@<0 72 O7:C <V6 >1 T:B0<8 (=0O2=VABL G8 2V4ACB=VABL >7=0:, 2;0AB82>AB59 V B.?.) []. .. #T<>2 2 ;>3V:>-DV;>A>DAL:><C 4>A;V465==V  5GV, 2;0AB82>ABV V 2V4=>H5==O 70?5@5GCT ?@>B8 @>7C<V==O 2V4=>H5==O O: 270T<>72 O7:C <V6 @5G0<8.  9>3> B>G:8 7>@C, F5 ?@8=F8?>2> 2V@=>, 0;5 =5B>G=>.  @8 =0O2=>ABV 270T<>72 O7:C <V6 @5G0<8 7<V=0 >4=VTW @5GV 28:;8:0T 7<V=C 4@C3>W. 70T<>2V4=>H5==O 6 =5 >7=0G0T, I> 7<V=0 >4=VTW @5GV 287=0G0T O:CAL 7<V=C 4@C3>W. @8 7<V=V >4=VTW @5GV WW 2V4=>H5==O 4> 4@C3>W 7<V=NTBLAO, 0;5 FO 4@C30 @VG70;8H0TBLAO =57<V==>N, O:I> =5<0T O:>WAL V=H>W ?@8G8=8, O:0 28:;8:0T 7<V=C. "><C :0B53>@VW 72 O7:C B0 2V4=>H5==O =5 <>6=0 >B>B>6=N20B8 []. 02545=V <V@:C20==O 70A;>3C2CNBL C2038 7 45:V;L:>E B>G>: 7>@C. >-?5@H5, BCB ?@>4C:B82=> 28:>@8AB>2CTBLAO ?>=OBBO  270T<>2V4=>H5==O 2 7<VABV 287=0==O VA=C20==O >4=>G0A=>3> 2V4=>H5==O @5G59 (>1 T:BV2) >48= 4> >4=>3>; ?>-4@C35, O: =0< 740TBLAO, 2V@=> @>7<56CNBLAO ?>=OBBO 72 O7:C B0 2V4=>H5==O; ?>-B@5BT, O: F5 AB0=5 7@>7C<V;8< 7 ?>40;LH>3> 0=0;V7C, B0:5 @>7<56C20==O 40T <>6;82VABL 157?>A5@54=L> A?V22V4=5AB8 DV;>A>DAL:5 @>7C<V==O 2V4=>H5==O 7 9>3> ?A8E>;>3VG=8< @>7C<V==O<, 0 ?>=OBBO 270T<>72 O7:C  7 ?A8E>;>3VG=8< ?>=OBBO A?V;:C20==O. V4:@5A;NNG8 206;82VABL ?>=OBBO 72 O7:C 4;O @>728B:C <5B>4>;>3VG=>3> A8AB5<=>3> ?V4E>4C, .. ;0C15@3, .. !04>2AL:89 B0 .". .4V= 287=0NBL, I> 40B5 AC2>@5 287=0G5==O FL><C ?>=OBBN AL>3>4=V =5<>6;82>. >=8 ?@>?>=CNBL 5<?V@8G=C :;0A8DV:0FVN 72 O7:V2, O:0 28:;8:0T V=B5@5A 2 :>=B5:ABV =0H>3> 4>A;V465==O. "0:, 2G5=V 284V;ONBL O: ?5@54 CAV< 72 O7:8 270T<>4VW, >A>1;8289 284 O:8E A:;040NBL 72 O7:8 <V6 >:@5<8<8 ;N4L<8, 0 B0:>6 <V6 ;N4AL:8<8 :>;5:B820<8 V A>FV0;L=8<8 A8AB5<0<8. !?5F8DV:0 F8E 72 O7:V2 ?>;O30T 2 B><C, I> 2>=8 >?>A5@54:>2CNBLAO FV;O<8, O:V ?5@5A;V4CT :>6=0 AB>@>=0 270T<>72 O7:C. @V< B>3>, <>6=0 AB25@46C20B8, I> V=HV 2848 72 O7:V2 (?5@5B2>@5==O, 1C4C20==O, DC=:FV>=C20==O, @>728B>: V C?@02;V==O) B0:>6 <0NBL <VAF5 2 A8AB5<V <V6>A>18ABVA=>3> A?V;:C20==O.  ?A8E>;>3VW :0B53>@VO  2V4=>H5==O 28:>@8AB>2CTBLAO 4C65 H8@>:> V 2 45O:8E 7=0G5==OE. 5@H 70 2A5, G5@57 2V4=>H5==O 4> >B>GCNG>3> A2VBC 28O2;OTBLAO A0<0 ACB=VABL ?A8EVG=>3>, 28O2;OTBLAO @>4>20 ACB=VABL ;N48=8. &5 GVB:> ?>:070=> C @>1>B0E !.. C1V=HB59=0. V= C:07CT, I> 6>45= ?@54<5B, C7OB89 A0< ?> A>1V, =5 <>65 28O28B8 A2>N @>4>2C ACB=VABL. 030;L=5 28O2;OTBLAO C >48=8G=><C G5@57 2V4=>H5==O >48=8G=>3> 4> >48=8G=>3>, :>;8 >4=5 >48=8G=5 28ABC?0T 2 O:>ABV 5:2V20;5=B0 4@C3>3>. 0B53>@VO @>4C 28O2;OTBLAO G5@57 :0B53>@VN 2V4=>H5==O 2 WW 72 O7:C 7 :0B53>@VTN @5GV. &5 T 7030;L=>;>3VG=0 :0B53>@V0;L=0 >A=>20 B>3>, O: @>4>20 2;0AB82VABL ;N48=8 @>7:@820TBLAO G5@57 2V4=>H5==O >4=VTW ;N48=8 4> 4@C3>W. V4><>, I> BCB <>20 945 ?@> >1 T:B82=89 0A?5:B 2V4=>H5==O ;N48=8 4> ;N48=8.  B0:><C 6 7030;L=><C B0 H8@>:><C ?;0=V @>7:@820TBLAO 02B>@>< V ?@>1;5<0 270T<>2V4=>A8=: =5 ABV;L:5 ?@O<5 2V4=>H5==O >4=VTW ;N48=8 4> 4@C3>W, A:V;L:8 A?V;:C20==O G5@57 ?@54<5B=C 4VO;L=VABL, G5@57 2AN AC:C?=VABL  4V9 2 >B>GCNG><C A2VBV.  0965 2AO:0 ;N4AL:0 4VO, - 3>2>@8BL !.. C1V=HB59=, - T =5 BV;L:8 B5E=VG=>N >?5@0FVTN ?> 2V4=>H5==N 4> @5G59, 0;5 9 2G8=:>< ?> 2V4=>H5==N 4> 4@C3>W ;N48=8, O:89 28O2;OT 2V4=>H5==O 4> =5W. "><C 4@C30 ;N48=0 7V A2>W<V 4VO<8 2E>48BL 2  >=B>;>3VN ;N4AL:>3> 68BBO. '5@57 2V4=>H5==O 4> @5G59, 4> ;N4AL:8E ?@54<5BV2 74V9A=NNBLAO 270T<>2V4=>A8=8 <V6 ;N4L<8 []. 1 T:B82=5 =5?5@A>=>F8DV9>20=5 2V4=>H5==O 4> V=H8E ;N459 2V4>1@06CTBLAO B0 ?@>O2;OTBLAO 2 AC1 T:B82=>->A>18ABVA=><C 0A?5:BV ?>254V=:8 ?> 2V4=>H5==N 4> V=H>3>:  =0;V7 ;N4AL:>W ?>254V=:8 ?@8?CA:0T @>7:@8BBO ?V4B5:ABC ?>254V=:8, B>3>, I> ;N48=0  <0;0 =0 C207V A2>W< 2G8=:><. 02648 VA=CNBL BV G8 V=HV 2V4=>A8=8, O:V F59 2G8=>: @50;V7CNBL . "0:5  ?>T4=0==O 2V4=>A8= 4> ;N48=8 40;V GVB:> D>@<C;NTBLAO:  & V=H0 ;N48=0, O:0 40=0 O: >1 T:B, 28:;8:0T 4> A515 2V4=>H5==O O: 4> AC1 T:BC, 0 O 4;O =5W  >1 T:B, O:>3> 2>=0, 2 A2>N G5@3C, ?@89<0T O: AC1 T:B0 . [] "0:8< G8=><,  2V4=>H5==O 2 ?A8E>;>3VW  F5 V DV;>A>DAL:0 :0B53>@VO, 2 O:V9 28O2;OTBLAO @>4>20 ACB=VABL ;N48=8  2V4=>H5==O ;N48=8 4> ;N48=8. # 2V4=>A8=0E ;N48=8 4> ;N48=8 A;V4 @>7@V7=N20B8 >1 T:B82=V V AC1 T:B82=V 0A?5:B8, 0A?5:B8 ?V7=0==O V ?5@56820==O >A>18ABVABN B8E >1 T:B82=8E 2V4=>A8=, C O:8E 2>=0 7=0E>48BLAO 7 V=H8<8. 1 T:B82=V 2V4=>A8=8, 2 O:V ;N48 7<CH5=V 2ABC?0B8 2 ?@>F5AV A2>TW 68BBT4VO;L=>ABV, V AC1 T:B82=5 2V4>1@065==O 40=8E 2V4=>A8=  F5 420 35=5B82=> ?>2 O70=8E 2840 2V4=>A8= <V6 ;N4L<8. >6=89 7 =8E <>65 40;V <0965 =5A:V=G5==> 48D5@5=FV9>2C20B8AO, 0;5 F5 1C45 48D5@5=FV0FVO 2A5@548=V >A=>2=>3>, DC=40<5=B0;L=>3> @>7?>4V;C. !C1 T:B82=V 2V4=>A8=8 2 =0HV9 ;VB5@0BC@V =09G0ABVH5 287=0G0NBLAO B5@<V=><  >A>18ABVA=V 2V4=>A8=8 . >6=89 @O4 2V4=>A8= @50;V7CTBLAO C A?5F8DVG=8E D>@<0E A?V;:C20==O. !?V;:C20==O O: @50;V70FVO <V6>A>18ABVA=8E 2V4=>A8=  ?@>F5A, 1V;LH 282G5=89 2 A>FV0;L=V9 ?A8E>;>3VW. !?V;:C20==O, 2 B><C G8A;V C A8AB5<V <V6>A>18ABVA=8E 2V4=>A8=, 28=C465=> A?V;L=>N 68BBT4VO;L=VABN ;N459, B><C 2>=> =5>4<V==> 74V9A=NTBLAO ?@8 A0<8E @V7=><0=VB=8E 2V4=>A8=0E, B>1B> 40=> C 28?04:C O: ?>78B82=>3>, B0: V =530B82=>3> 2V4=>H5==O >4=VTW ;N48=8 4> V=H>W. "8? <V6>A>18ABVA=8E 2V4=>A8= =5 1094C689 4> B>3>, O: 1C45 71C4>20=> A?V;:C20==O, 0 A?V;:C20==O VA=CT (V=:>;8 C A?5F8DVG=8E D>@<0E) =02VBL B>4V, :>;8 2V4=>A8=8 4C65 703>AB@5=V. "56 A0<5 2V4=>A8BLAO V 4> E0@0:B5@8AB8:8 A?V;:C20==O =0 <0:@>@V2=V. .. =4@VT20 ?@>?>=CT E0@0:B5@87C20B8 AB@C:BC@C A?V;:C20==O H;OE>< 284V;5==O C =L><C B@L>E 270T<>?>2 O70=8E AB>@V=: :><C=V:0B82=>W, V=B5@0:B82=>W B0 ?5@F5?B82=>W. ><C=V:0B82=0 AB>@>=0 A?V;:C20==O 15@5 CG0ABL C >1<V=V V=D>@<0FVTN <V6 V=482V40<8, I> A?V;:CNBLAO. =B5@0:B82=0 AB>@>=0 A?V;:C20==O ?>;O30T 2 >@30=V70FVW 270T<>4VW <V6 V=482V40<8, I> A?V;:CNBLAO, B>1B> C >1<V=V =5 BV;L:8 7=0==O<8, V45O<8, 0;5 9 4VO<8. 5@F5?B82=0 AB>@>=0 A?V;:C20==O >7=0G0T ?@>F5A A?@89=OBBO ?0@B=5@0<8 ?> A?V;:C20==O >48= >4=>3> B0 2AB0=>2;5==O =0 FV9 >A=>2V 270T<>@>7C<V==O. @>7C<V;>, I> 2 @50;L=V9 4V9A=>ABV :>6=0 7 F8E AB>@V= =5 VA=CT V7>;L>20=> 2V4 42>E V=H8E. !?V;:C20==O =5 <>6=0 @>73;O40B8 O: 2V4?@02;5==O V=D>@A2FVW O:>NAL ?5@540NG>N A8AB5<>N, B><C I> =0 2V4<V=C 2V4 ?@>AB>3>  @CEC V=D>@<0FVW <V6 42><0 ?@8AB@>O<8 BCB <8 <0T<> A?@02C 7 2V4=>A8=0<8 42>E V=482V4V2, :>6=89 7 :>B@8E T 0:B82=8< AC1'T:B><: 270T<=5 V=D>@<C20==O WE ?5@5410G0T =0;03>465==O A?V;L=>W 4VO;L=>ABV. =B5@0:B82=0 AB>@>=0 A?V;:C20==O  C<>2=89 B5@<V=, I> ?>7=0G0T E0@0:B5@8AB8:C B8E :><?>=5=BV2 A?V;:C20==O, :>B@V ?>2 O70=V V7 270T<>4VTN ;N459, 7 157?>A5@54=L>N >@30=V70FVTN WE A?V;L=>W 4VO;L=>ABV. .. #<0=AL:89 ?@>?>=CT 284V;8B8 B@8 <>6;82V D>@<8 >@30=V70FVW A?V;L=>W 4VO;L=>ABV: :>;8 :>6=89 CG0A=8: 28:>=CT A2>N G0AB8=C A?V;L=>W @>1>B8, =570;56=> >48= 2V4 >4=>3>; :>;8 A?V;L=5 70240==O 28:>=CTBLAO ?>A;V4>2=> :>6=8< CG0A=8:><; >;8 <0T <VAF5 >4=>G0A=0 270T<>4VO :>6=>3> CG0A=8:0 7 CAV<0 V=H8<8. <>FV9=0 >A=>20, I> ?@8ACB=O 2 A8AB5<V <V6>A>18ABVA=8E 2V4=>A8=, ?>@>46CT @V7=><0=VB=V >FV=:8, >@VT=B0FVW, CAB0=>2:8 ?0@B=5@V2 ?> A?V;:C20==N B0 ?52=8< G8=><  7010@2;NT 270T<>4VN. ;5, =0@O4C 7 F8<, B0:5 5<>FV9=5 (?>78B82=5 01> =530B82=5) 7010@2;5==O 270T<>4VW =5 <>65 ?>2=VABN 287=0G0B8 D0:B 9>3> =0O2=>ABV 01> 2V4ACB=>ABV; =02VBL 2 C<>20E  ?>30=8E <V6>A>18ABVA=8E 2V4=>A8= C 3@C?0E, 7040=8E 287=0G5=>N A>FV0;L=>N 4VO;L=VABN, 270T<>4VO >1>2 O7:>2> VA=CT. >25@=5<>AO 4> ?5@F5?B82=>W AB>@>=8 A?V;:C20==O. # O:>ABV AC1 T:B0 A?@89=OBBO V=B5@?@5BCTBLAO =5 BV;L:8 >:@5<89 V=482V4, 0;5 9 3@C?0: A?@89=OBBO 3@C?>N A2>3> 2;0A=>3> G;5=0, A?@89=OBBO 3@C?>N ?@54AB02=8:0 V=H>W 3@C?8, A?@89=OBBO 3@C?>N A0<>W A515, A?@89=OBBO 3@C?>N V=H>W 3@C?8. # 2VBG87=O=V9 ;VB5@0BC@V, =0?@8:;04, 2 4>A;V465==OE .. >40;L>20, 4>A8BL G0AB> C O:>ABV A8=>=V<0  A?@89=OBBO V=H>W ;N48=8 28ABC?0T ?>=OBBO  A>FV0;L=0 ?5@F5?FVO . # A0<><C 7030;L=><C ?;0=V <>6=0 A:070B8, I> A?@89=OBBO V=H>W ;N48=8 >7=0G0T A?@89=OBBO WW 7>2=VH=VE >7=0:, A?V22V4=>H5==O WE 7 >A>18ABVA=8<8 E0@0:B5@8AB8:0<8 V=482V4C, :>B@>3> A?@89<0NBL, B0 V=B5@?@5B0FVN =0 FV9 >A=>2V 9>3> 2G8=:V2. #AV 287=0G5=V AB>@>=8 A?V;:C20==O 28O2;ONBLAO C <0;8E 3@C?0E, B>1B> 2 C<>20E 157?>A5@54=L>3> :>=B0:BC <V6 ;N4L<8. #O2;5==O ?@> V=HC ;N48=C BVA=> ?>2 O70=> 7 @V2=5< 2;0A=>W A0<>A2V4><>ABV. 2 O7>: F59 42>O:89: 7 >4=>3> 1>:C  @>7<0WBBO CO2;5=L ?@> A0<>3> A515 287=0G0T 9 1030BAB2> CO2;5=L ?@> V=HC ;N48=C; 7 4@C3>3> 1>:C  G8< 1V;LH ?>2=> @>7:@820TBLAO V=H0 ;N48=0, B8< 1V;LH ?>2=8< AB0T CO2;5==O ?@> A0<>3> A515. !?V2AB02;5==O A515 7 V=H8< 74V9A=NTBLAO O:18 7 42>E 1>:V2: :>6=89 7 ?0@B=5@V2 C?>4>1;NT A515 V=H><C. 8E>48BL, ?@8 ?>1C4C20==V AB@0B53VW 270T<>4VW :>6=><C ?@8E>48BLAO ?@89<0B8 4> C2038 =5 BV;L:8 ?>B@518, <>B828, CAB0=>2:8 V=H>3>, 0;5 9 B5, O: F59 V=H89 @>7C<VT 9>3> ?>B@518, <>B828 B0 CAB0=>2:8. =0;V7 CA2V4><;5==O A515 G5@57 V=H>3> <0T 420 1>:8: V45=B8DV:0FVN B0 @5D;5:AVN. "5@<V=  V45=B8DV:0FVO 1C:20;L=> >7=0G0T C?>4V1;5==O A515 V=H><C.  @50;L=8E A8BC0FVOE 270T<>4VW ;N48 :>@8ABCNBLAO B0:8< ?@89><><, :>;8 ?@8?CI5==O ?@> 2=CB@VH=V9 AB0= ?0@B=5@0 ?> A?V;:C20==N 1C4CTBLAO =0 >A=>2V A?@>18 ?>AB028B8 A515 =0 9>3> <VAF5.  ?V4 @5D;5:AVTN @>7C<VTBLAO CA2V4><;5==O 4VNG8< V=482V4>< B>3>, O: A0<5 2V= A?@89<0TBLAO ?0@B=5@>< ?> A?V;:C20==N. &5 3;81>:5, ?>A;V4>2=5 270T<>2V4>1@065==O, 7<VAB>< O:>3> T 2V4B2>@5==O 2=CB@VH=L>3> A2VBC ?0@B=5@0 ?> 270T<>4VW, ?@8G><C C FL><C 2=CB@VH=L><C A2VBV C A2>N G5@3C 2V4>1@06CTBLAO 2=CB@VH=V9 A2VB ?5@H>3> 4>A;V4=8:0. =482V4C0;L=89 @>728B>: ;N48=8 28O2;OTBLAO 2 ?@>F5AV CAB0=>2;5==O @V7=><0=VB=8E (?@O<8E B0 =5?@O<8E, 157?>A5@54=VE B0 >?>A5@54:>20=8E, ?V7=020;L=8E B0 =5?V7=020;L=8E V B.4.) 2V4=>A8= 7 >B>GCNG8< A>FV0;L=8< A5@54>28I5<, 2 ?@>F5AV A>FV0;L=>3> A?V;:C20==O, I> D>@<CT B0 @50;V7CT FV 2V4=>A8=8. !?@>1CT<> 287=0G8B8 4VN V <VAF5 270T<>2V4=>A8= V A?V;:C20==O 7 >4=>;VB:0<8 B0 7=0G5==O B0 <VAF5 3@C?8 >4=>;VB:V2 4;O ?A8EVG=>3> @>728B:C 2 >=B>35=57V.  A>FV0;L=>-?A8E>;>3VG=V9 B0 A>FV>;>3VG=V9 ;VB5@0BC@V, 45 <>20 945 ?@> 4VN A>FV0;L=>3> A5@54>28I0 2 D>@<C20==V >A>18AB>ABV, ?V4:@5A;NTBLAO 1030B>?;0=>2VABL FL>3> ?>=OBBO.  &5, - 2:07CT .. CT20, - 2AV A>FV0;L=V C<>28 B0 A8BC0FVW, @5GV V >A>1;82>ABV A>FV0;L=>3> >B>G5==O, AD5@0 A?V;:C20==O, C<>28 <VAFO V G0AC, 2AO <0B5@V0;L=0 V 4CE>2=0 :C;LBC@0 ACA?V;LAB20. !5@54>28I0 28O2;OT A>1>N B5 :>=:@5B=5 ?>;5 A>FV0;L=>W 4VO;L=>ABV V 2V4=>A8= >A>18AB>ABV, 45 D>@<CNBLAO V @50;V7CNBLAO WW 74V1=>ABV, 45 :>6=0 ;N48=0 157?>A5@54=L> 2:;NG0TBLAO 2 68BBT4VO;L=VABL ACA?V;LAB20. $>@<CTBLAO ;N4AL:5 A>FV0;L=5 A5@54>28I5  F5 >A>18ABVABL 2 FV;><C, C 2AVE AD5@0E WW B0 28O2;5==OE []. 4=0: @>72820NG0 >A>18ABVABL =5 157?>A5@54=L>  70=C@5=0 2 H8@>:5 A>FV0;L=5 A5@54>28I5. A=CT @O4 ;0=:V2, G5@57 O:V ACA?V;LAB2>  4>B@8<CTBLAO 4> >:@5<>W >A>18AB>ABV, B>G=VH5, 2 O:8E 2V41C20TBLAO WE 157?>A5@54=O 270T<>4VO. 091V;LH 1;87L:>N 4> >A>18AB>ABV :;VB8=:>N ACA?V;LAB20, :;VB8=:>N, 4> O:>W 2>=0 A0<0 2E>48BL, T <V:@>A5@54>28I5.  V:@>A5@54>28I5, - ?8H5 .. CT20, - T 5;5<5=B>< ;0=:8 7030;L=>3> A>FV0;L=>3> A5@54>28I0; A?5F8DV:0 9>3> ?>;O30T 2 B><C, I> 2>=> ?5@5;><;NT V >?>A5@54:>2CT 4VN ACA?V;LAB20 =0 >A>18ABVABL, WW 4CE>2=89 A2VB []. V:@>A5@54>28I5 A0<5 <0T A:;04=C 2=CB@VH=N AB@C:BC@C. > =L>3> 2E>4OBL V AV<59=5 >B>G5==O 48B8=8, V >4>=>;VB:8, V 2AV BV 4>@>A;V, O:V 157?>A5@54=L> 7 =8<8 A?V;:CNBLAO. !?5F8DVG=>N >A>1;82VABN <V:@>A5@54>28I0 O2;ONBLAO =5 ABV;L:8 9>3> 7<5=H5=V C ?>@V2=O==V 7 FV;8< ACA?V;LAB2>< @>7<V@8, =5 ABV;L:8 9>3>  <V:@>A:>?VG=VABL , A:V;L:8 B>9 @>72 O7CNG89 28?04>:, I> 48B8=0 0:B82=> 270T<>4VT 7 =8<, G5@?0T 7 =L>3> C25AL A2V9 A>FV0;L=89 4>A2V4, 5<>FV9=> E28;NTBLAO 70 O:VABL 2;0A=8E 2V4=>A8= 7 ;N4L<8, O:V A:;040NBL WW <V:@>A5@54>28I5. /: 2V4<VG0T .. ;L:>=V=, O:89 >1?8@0TBLAO =0 >A=>2=V ?>;>65==O B5>@VW .!. 83>BAL:>3>,  4;O @>728B:C >A>18AB>ABV 48B8=8 BV WW A?5F8DVG=> ;N4AL:8E 2;0AB82>AB59 A5@54>28I5 28ABC?0T =5 O: >1AB0=>2:0, =5 O: C<>28 @>728B:C, 0 O: 465@5;> @>728B:C [], >A:V;L:8 B5, I> ?>28==> 28=8:0B8 2 ?@>F5AV @>728B:C V 74V9A=NTBLAO 2 :V=FV @>728B:C, C65 40=> 2 A5@54>28IV 7 A0<>3> ?>G0B:C. !:;04=0 270T<>4VO 7>2=VH=VE B0 2=CB@VH=VE D0:B>@V2, >1 T:B82=8E B0 AC1 T:B82=8E C<>2 @>728B:C ?A8EV:8 A8=B57>20=V .!. 83>BAL:8< 2 ?>=OBBV  A>FV0;L=0 A8BC0FVO @>728B:C . /: 2:07CT .V. >6>28G,  F8< B5@<V=>< 2V= 287=0G82 B5 >A>1;825 A?>;CG5==O 2=CB@VH=VE ?@>F5AV2 @>728B:C V 7>2=VH=VE C<>2, O:5 T B8?>28< 4;O :>6=>3> 2V:>2>3> 5B0?C B0 >1C<>2;NT V 48=0<V:C ?A8EVG=>3> @>728B:C =0 ?@>BO7V 2V4?>2V4=>3> 2V:>2>3> ?5@V>4C, V =>2V O:VA=> @V7=><0=VB=V ?A8E>;>3VG=V CB2>@5==O, I> 28=8:0NBL 4> 9>3> :V=FO []. '5@57 F5 28E>48BL, I>, 0=0;V7CNG8 2?;82 A>FV0;L=>3> <V:@>A5@54>28I0 =0 @>728B>: >A>18AB>ABV 48B8=8, =5>1EV4=> 287=020B8 V 9>3> >1 T:B82=V 5;5<5=B8, V B>9 5D5:B82=89 2V43C:, O:8< AC?@>2>46CTBLAO 270T<>4VO 48B8=8 7 F8<8 5;5<5=B0<8. =0:H5 :06CG8, 2 ?A8E>;>3VG=><C 4>A;V465==V ?>B@V1=> 2@0E>2C20B8 >1842V AB>@>=8 A>FV0;L=>W A8BC0FVW @>728B:C: >1 T:B82=C  270T<>72 O7>: 48B8=8 7 >B>GCNG8<8 ;N4L<8, AC1 T:B82=C  2V4>1@065==O F8E 270T<>72 O7:V2, 270T<>2V4=>A8= <V6 ;N4L<8, WE ?V7=0==O, E28;N20==O I>4> WE O:>ABV V B.?. 0@C1V6=V ?A8E>;>38 2 B5?5@5H=V9 G0A B56 1;87L:> ?V4V9H;8 4> 0=0;>3VG=>3> @>7C<V==O 7=0G5==O A>FV0;L=>3>< $**0.2*:\df##$$$%''''((,(.(4(((`)h)))**..003V334շ̢̢̢̢hbh5CJmH"sH"hbhCJmH"sH"hCJmH"sH"h5CJmH"sH" h6 h5h5CJ mH"sH"hbhCJhhbhCJ mHsHhCJ mH sH hCJ mH"sH" hCJ 5<>   < | ~    < ^`$a$<  . $.  $dh`a$ ^` & F ^` $dh^a$$dha$:#$'(((`)**x+H,8--.0335 $ & Fdha$$dh^`a$ $dh`a$55555 5"5$5&5h55&6(69?C,GrIJM$R&X]bFhidh^ & F ppdh^p $dh`a$4&5(69@@dBfBBCDDGGHHHHHHhIlIpJrJ,K.KMMMMrOtOPPQQhRjR TTTT0U2UUUVV"W$W`\b\]]bbbbcc4f6fffffgg$g(ghhhhLiNiiihjhCJmH sH hbhCJhbhCJmH"sH"hh5CJ mH"sH"hCJmH"sH"Nhjjjjj:lrd\4T&& $dh`a$ A5@54>28I0 4;O ?A8EVG=>3> @>728B:C. !>FV0;L=5 A5@54>28I5 (<V:@>A5@54>28I5) V A>FV0;L=0 A8BC0FVO @>728B:C 48B8=8  F5 @V7=V ?>=OBBO V ?> >1 T<C, V ?> 7<VABC. ;5<5=B8 <V:@>A5@54>28I0  F5 >1 T:B82=V :><?>=5=B8, O:V CBO3CNBL 2 A>FV0;L=C A8BC0FVN @>728B:C 2 A8;C 0:B82=>W 270T<>4VW 48B8=8 7 40=8<8 5;5<5=B0<8 C D>@<V A?V;:C20==O V E28;N20==O. 09206;82VH8< 7 F8E 5;5<5=BV2 O2;ONBLAO ;N48, O:V 157?>A5@54=L> >B>GCNBL 48B8=C. 2V4AV;L 2 A>FV0;L=C A8BC0FVN @>728B:C 2E>48BL 0=A0<1;L 7 42>E >A=>2=8E A>FV0;L=>-?A8E>;>3VG=8E ?V4A8AB5<: A?>G0B:C <0T <VAF5 ?V4A8AB5<0  4>@>A;89  48B8=0 , 0 ?>BV< =0 287=0G5=V9 AB04VW >=B>35=57C 4> =5W  ?@8AB02;OTBLAO ?V4A8AB5<0  48B8=0  48B8=0 .  @57C;LB0BV A>FV0;L=C A8BC0FVN @>728B:C 48B8=8 <>6=0 ?>40B8 O: T48=C A8AB5<C: >@>A;89 8B8=0 8B8=0 >=:@5B=5 28:>=0==O @>;59 2 FV9 B@804V <>6=0 7<V=N20B8 O: ?5@A>=0;L=>, B0: V 70 2;0A=8<8 DC=:FVO<8. /:  4>@>A;V A?>G0B:C 28ABC?0NBL <0B8 B0 V=HV 7=0GCIV G;5=8 @>48=8, ?>BV< 4> =8E  ?V4:;NG0NBLAO ?5403>38-28E>20B5;V 48BOG>3> A04:C, H:V;L=V 2G8B5;V V B.?. "0:8< G8=><, A0< 1;>:  4>@>A;V DC=:FV>=CT O: A:;04=0 ?V4A8AB5<0. V4A8AB5<0  48B8=0  48B8=0 B0:>6 @50;V7CTBLAO 70 4>?><>3>N @V7=8E 70A>1V2: AB0@HV B0 <>;>4HV 1@0B8 V A5AB@8, ACAV48 ?> 42>@C, >4=>;VB:8 (B>20@8HV ?> 3@C?V 48BOG>3> A04:C, H:V;L=>3> :;0AC, 2:V=5FV, ABC45=BAL:>W 3@C?8). >B@V1=> >4@07C 2V4<8B8B8, I> ?V4A8AB5<0  >4=>;VB:8  >4=>;VB:8 (O:0 7451V;LH>3> V 1C45 ?@54<5B>< =0H>W C2038) C65 =0 4C65 @0==VE 5B0?0E >=B>35=57C DC=:FV>=CT O: 2V4=>A=> A0<>ABV9=0 A>FV0;L=>-?A8E>;>3VG=0 A?V;L=VABL   <0;0 3@C?0 , O:C =0 287=0G5=><C @V2=V @>728B:C <>6=0 :20;VDV:C20B8 O:  :>;5:B82 . !>FV0;L=89 AB0BCA  F5 ?>;>65==O V=482V40 2 A>FV0;L=V9 A8AB:5<V, 287=0G5=5 70 @O4>< 5:>=><VG=8E, ?@>D5AV9=8E, 5B=VG=8E B0 V=H8E A?5F8DVG=8E 4;O 40=>W A8AB5<8 >7=0:. V4@V7=ONBL  =0:07>289 (B>9, I> CA?04:>2CTBLAO) V  4>AO3=CB89 (7024O:8 2;0A=8< 7CAV;;O< ;N48=8) A>FV0;L=89 AB0BCA. !>FV0;L=89 AB0BCA T >4=8< V7 A0<8E VAB>B=8E ?0@0<5B@V2 ?>;>65==O >A>18AB>ABV 2 3@C?V @>25A=8:V2. AB0=>2;5=0 :>@5;OFVO <V6 A:>=AB@C9>20=8< 4>A;V4=8:>< =01>@>< >A>1;82>AB59 ?>254V=:8 V @8A >A>18AB>ABV 4>A;V46C20=8E B0 A>FV0;L=8< AB0BCA>< <>65 @>73;O40B8AO O: V=D>@<0FVO ?@> 2?;82 F8E 7<V==8E =0 AB0BCA, 20;5 <>65 V=B5@?@5BC20B8AO V O: 4>:07 72>@>B=L>W 4VW AB0BCA0 =0 D>@<C20==O @8A E0@0:B5@C. 82G5==N 70;56=>ABV A>FV0;L=>3> AB0BCAC 2V4 B8E G8 V=H8E >A>18ABVA=8E V 3@C?>28E D0:B>@V2 ?@8A2OG5=> 25;8:5 G8A;> 4>A;V4V2 O: 2 =0HV9 :@0W=V, B0: V 70 :>@4>=><.  :>=:@5B=8E 4>A;V40E 7=0945=>, I> =0 A>FV0;L=89 AB0BCA 2?;820NBL ?5@H 70 2A5 @V7=><0=VB=V >A>18ABVA=V D0:B>@8: 7>2=VH=V9 283;O4, 1V;LH 28A>:V H:V;L=V ?>:07=8:8 V @>7C<>20 >140@>20=VABL, 1V;LH <>;>489 2V:, B>20@8AL:VABL, 3>B>2=VABL 4>?><>3B8 B>20@8HC. /:I> A?@>1C20B8 =0 >A=>2V 1030B>G8A5;L=8E BV V=:>;8 AC?5@5G;828E 40=8E A:>=AB@CN20B8 45O:C <>45;L  V=482V40, O:>3> G0AB> >18@0NBL , B> F5 1C45 AC1 T:B, I> <0T 28A>:C @>7C<>2C >140@>20=VABL V H:V;L=V ?>:07=8:8 CA?VH=>ABV, 2V= <>;>4H89 >B 1030BL>E V=H8E G;5=V2 3@C?8, <0T ?@8T<=89 7>2=VH=V9 283;O4, 709<0TBLAO A?>@B><, 2V4@V7=OTBLAO A>FV0;L=8<8 V 35B5@>A5:AC0;L=8<8 V=B5@5A0<8, 3>B>289 =040B8 4>?><>3C B>20@8HC. # 70@C1V6=8E A>FV><5B@8G=8E 4>A;V465==OE B0:>6 2V4<VG5=> 2?;82 A>FV0;L=8E D0:B>@V2 =0 ?>;>65==O ;N48=8 2 3@C?V C65 =0 H:V;L=8E 2V:>28E @V2=OE. /: 2V47=0G0T . @>=;0=4, A>FV><5B@8G=V @50:FVW 4VB59 2 ?52=V9 <V@V >1<56CNBLAO V <>48DV:CNBLAO A>FV0;L=>N AB@C:BC@>N B>3> ACA?V;LAB20, 2 O:><C 2>=8 682CBL, AV<59=8< 4>A2V4><, 1;87L:VABN 4> B8E 01> V=H8E 3@C? 4VB59 V B.?. :A?5@8<5=B0;L=V 40=V ?@82>4OBL 4> :@0A=><>2=8E 28A=>2:V2 ?@> B5, I> A>FV><5B@8G=V @57C;LB0B8 2V4>1@060NBL @50;L=V ACA?V;L=V AC?5@5G=>ABV.  >3;O4V . 0==0, 2 O:><C C7030;L=NNBLAO CAV @>1>B8 I>4> ;V45@AB20 7 1900 ?> 1970 @>:8, 7@>1;5=> A?@>1C 2V4:@8B8 >A>18ABVA=89 E0@0:B5@ ;V45@0, 0;5 7=0945=> =5 4C65 1030B> A?V2?040NG8E @8A. 87=0G5=> 45O:C B5=45=FVN ;V45@V2 4> 1V;LH>W 48=0<VG=>ABV C ?>@V2=O==V 7 @O4>28<8 G;5=0<8 3@C?8: 2>=8 1V;LH ?@8AB>A>20=V 4> VA=CNG8E A>FV0;L=8E =>@<, 1V;LH <C6=V B>I>. 4=0 >A>18ABVA=0 E0@0:B5@8AB8:0 ?@8ACB=O W< 70 40=8<8 <0965 2AVE 4>A;V465=L  28A>:89 V=B5;5:B. ;5 =02VBL FO >A>1;82VABL ;N48=8  =5 A?@0FL>2CT >4=0:>2> =04V9=> 2 1C4L-O:V9 3@C?V. >?C;O@=VABL O: ABC?V=L ?@8201;82>ABV >A>18AB>ABV 2 @V7=><0=VB=8E A?V;:0E 287=0G0TBLAO 1030B>G8A5;L=8<8 D0:B>@0<8. 4=8< V7 ABC?5=V2, I> 287=0G0BL ?@8201;82VABL ;N48=8 4;O ;N48=8, T >4=>@V4=VABL 3@C? 70 FV==VA=8<8 >@VT=B0FVO<8 B0 V=H8<8 >A>18ABVA=8<8 >A>1;82>ABO<8.  A>18ABVA=0 3@C?0 D0:B>@V2 2:;NG0T 2AV >A>18ABVA=V ?0@0<5B@8 ;N459, I> A?V;:CNBLAO. $>@<C20==O <V6>A>18ABVA=8E AB>AC=:V2 ?>2 O70=> 7 @O4>< ?@>1;5<. 4=0 7 =8E 70:;NG0TBLAO 2 B><C, I>1 287=0G8B8 C<>28 V >A>18ABVA=V @8A8, O:V @>1;OBL >4=C ;N48=C ?>?C;O@=VHC 70 V=HC. 0ABC?=>N ?@>1;5<>N 28ABC?0T 4>A;V465==O <V6>A>18ABVA=8E A8<?0BV9 =0 @V7=8E @V2=OE 270T<>72 O7:C. V7=8FO <V6 ;V45@AB2>< B0 <V6>A>18ABVA=>N 270T<=>N ?@8201;82VABN 4>AB0B=L> >G5284=0.  ?5@H><C 28?04:C :>=:@5B=0 >A>18ABVABL T ?@8201;82>N 4;O H8@>:>3> :>;0 ;N459, 2 4@C3><C  ?@8201;82VABL 270T<=0 B0 V=482V4C0;L=0. >?C;O@=0 >A>18ABVABL, =52V44V;L=0 2V4 H8@>:>W WW A;028, 4;O V=H8E 1V;LH>N G0AB8=>N E0@0:B5@87CTBLAO ?>78B82=8< 2V4=>H5==O<. >?C;O@=0 >A>18ABVABL A8<?0B8G=0, ?@8T<=0 4;O V=H8E, 0;5 ?@8 FL><C <>65 1CB8 <0;>2V4><>N. V45@8 <>6CBL <0B8 1030B> B>20@8HV2, 0;5 <0;> 4@C7V2. >?C;O@=VABL <>65 1CB8 @V7=>N, >A:V;L:8 287=0G0TBLAO 01>  A>FV0;L=>N ?@5AB86=VABN (2V4?>2V4=OABL ?52=><C V450;C, I> T 7030;L=8< 4;O H8@>:>3> :>;0 ;N459), 01>  74V1=VABN 28:;820B8 70E>?;5==O (V=482V4C0;L=0 ?@8201;82VABL 4;O V=H8E). >FV;L=> 27OB8 4> C2038 I5 42V >A=>28 4VD5@5=FVN20==O ?>?C;O@=>ABV B0 V=482V4C0;L=>W ?@8201;82>ABV. &V 420 2840 <V6>A>18ABVA=8E 2V4=>A8= <>6=0 2V4@V7=OB8, O:I> 2@0E>2C20B8, G8 O2;ONBLAO 2>=8 >FV=>G=8<8 01> 270T<>4VNG8<8. 0@=V <V6>A>18ABVA=V A8<?0BVW 7?2648 ?5@5410G0NBL 270T<>4VN :>=:@5B=8E >AV1, ?>?C;O@=VABL D0:B8G=> 28:;NG0T B0:C <>6;82VABL. V6>A>18ABVA=V A8<?0BVW 702648 270T<=V V :>=:@5B=V, I> AB2>@NT 2;0A=C A?5F8DV:C BV V=482V4C0;L=C A2>T@V4=VABL 2V4=>A8= V C<>2, I> 287=0G0NBL ?@8E8;L=VABL 42>E ;N459. >?C;O@=VABL  F5 ABC?V=L ?@8201;82>ABV 45O:>W ;N48=8 4;O >B>GCNG8E. N48, O:V >B@8<CNBL =091V;LH5 G8A;> 281>@V2 ?@8 A>FV><5B@8G=><C 28<V@V, =091V;LH ?>?C;O@=V, @5D5@5=B=V, 2?;82>2V. 8=8:0T ?8B0==O: G><C >4=8< G;5=0< :>;5:B82C 2V440TBLAO ?5@52030 C @V7=8E A8BC0FVOE A?V;:C20==O, 0 V=H8<  =V? @8G8= 4>AB0B=L> 1030B>, V 2AV 2>=8 <>6CBL 1CB8 @>7?>4V;5=V =0 3@C?>2V B0 >A>18ABVA=V. !?5F8DV:0 <V6>A>18ABVA=8E 2V4=>A8= 2 :>;5:B82V, 2V:>2>-AB0B52V, ?@>D5AV9=V B0 V=HV >A>1;82>ABV 9>3> G;5=V2 2V47=0G0NBL :@8B5@VW B0 5B0;>=8, O:V 28:>@8AB>2CNBLAO AC1 T:B0<8 C 281>@V ?0@B=5@V2 4;O AV;:C20==O. :045<VG=0 CA?VH=VABL  >A=>2=89 ?>:07=8: 5D5:B82=>ABV =02G0==O H:>;O@V2. )>1 ?5@52V@8B8 7=0G5==O 0:045<VG=>W CA?VH=>ABV H:>;O@V2 4;O >@30=V70FVW WE <V6>A>18ABVA=8E AB>AC=:V2, 1C;> ?@>2545=> :>@5;FV9=89 0=0;V7 ?>:07=8:V2 A>FV><5B@VW B0 CA?VH=>ABV. 8O28;>AO, I> 25;8:>N ?>?C;O@=VABN 2 :>;5:B82V :>@8ABCNBLAO H:>;O@8, :>B@V <0NBL 28A>:V >FV=:8 70 2AV<0 F8:;0<8 48AF8?;V=: ACA?V;L=8<.N B>G=8<, ?@8@>4=8G8< V ?@0:B8G=8<8 =0C:0<8. "0:8< G8=><, C H:>;O@V2 4>AB0B=L> >4=>7=0G=V V ?>78B82=V 72 O7:8 <V6 CA?VH=VABN V A>FV0;L=8< AB0BCA>< (?>?C;O@=VABN 2 :>;5:B82V). <>FV9=0 5:A?0=A82=VABL, I> E0@0:B5@87CT ?>B@51C 2 A?V;:C20==V (BV A2>T@V4=C 70;56=VABL 2V4 :>;5:B82C) 7=09H;0 =530B82=C B5=45=FVN 72 O7:C 7 CA?VH=VABN ?> G>B8@L>< @>74V;0< CG1>28E 48AF8?;V=. 2 O7>: ?>:07CT, I> ?@8 ?>30=V9 CA?VH=>ABV CG5=L 2V4GC20T 1V;LHC ?>B@51C 2 A?V;:C20==V, 2 CAB0=>2;5==V :>=B0:BC 7 V=H8<8 G;5=0<8 :>;5:B82C. !;V4 A:070B8, I> 2 A>FV><5B@8G=8E 4>A;V465==OE >AB0==VE @>:V2 70AB>A>2CTBLAO 25AL <5B>48G=89 0@A5=0; A>FV0;L=>W B0 48D5@5=FV9=>W ?A8E>;>3VW V 2V4?>2V4=V <5B>48 <0B5<0B8G=>W >1@>1:8. (8@>:> 70AB>A>2CNBLAO A?5FV0;L=> ?V43>B>2;5=V V=B5@2 N, O:V =0 <>;>4H8E 2V:>28E @V2=OE <0NBL 283;O4 15AV48 7 4VBL<8 2 C<>20E A?5FV0;L=> >@30=V7>20=>3> A?V;:C20==O. # AB0@H8E 2V:>28E @V2=OE 4;O 28O2;5==O <>B820FV9 A>FV><5B@8G=>3> 281>@C H8@>:> 28:>@8AB>2CNBLAO @V7=V <>48DV:0FVW 0=:5B B0 >?8BC20;L=8:V2. # ?V4;VB:>2><C 2VFV 1V;LH5 7=0G5==O ?>G8=0T 3@0B8 2:07V2:0 =0 <>@0;L=>-?A8E>;>3VG=V @8A8 >A>18AB>ABV B>20@8H0   2>;L>289 ,  G5A=89 ,  A<V;8289 ,  25A5;89 ,  ?@>AB89 V B.?. 06;82> 2V4<VB8B8, I> <>B820FV9, >A=>20=8E =0 >FV=FV >A>18AB>ABV >4=>:;0A=8:0, 7=0G=> 1V;LH5 2 B8E :;0A0E, I> E0@0:B5@87CNBLAO 1V;LH 28A>:8< @V2=5< @>728B:C :>;5:B82C >;>65==O CG=O 2 A8AB5<V <V6>A>18ABVA=8E 270T<>2V4=>A8= (O:V 1030B> 2 G><C 70;560BL 2V4 B>3>, =0A:V;L:8 2V= A8<?0B8G=89 A2>W< >4=>:;0A=8:0<) <0T A0<5 VAB>B=5 7=0G5==O 4;O D>@<C20==O 9>3> >A>;18AB>ABV. /:I> CG=N A8<?0B87CNBL 1030B> >4=>:;0A=8:V2, 7 @:4VABN A?V;:CNBLAO 7 =8<, V7 704>2>;5==O< ?@89<0NBL 4> 3@8 B>I>, B> F5 AB2>@NT C<>28 4;O D>@<C20==O C =L>3>B>20@8AL:>2ABV, 4>1@>78G;82>ABV, 4@C65;N1=>ABV, B>I>. 5 <>65 ?@>9B8 4;O >A>18AB>ABV CG=O 157A;V4=> V B0:5 9>3> ?>;>65==O 2 :;0AV, :>;8 9><C =VEB> 01> <0965 =VEB> =5 A8<?0B87CT, :>;8 2V= 2V4GC20T A515 A0<>B=V<, =V:><C =5 ?>B@V1=8< B>I>. 0 ?V4AB02V B0:8E 270T<>2V4=>A8= 2 CG=O <>65 28@01>B0B8AL 70<:=5=VABL, ?>E<C@VABL, >7;>1;5=VABL B>I>. 2V4AV;L I5 @07 AB0T OA=>, O: 206;82> A2>TG0A=> 2AB0=>28B8 D0:B8G=5 ?>;>65==O CG=O 2 :;0AV. III. :A?5@8<5=B0;L=5 4>A;V465==O >A>18ABVA=8E >A>1;82>AB59 ?V4;VB:V2, I> <0NBL @V7=89 A>FV0;L=89 AB0BCA 2 :;0AV. III.1. 030;L=V ?8B0==O >@30=V70FVW 4>A;V465==O. %0@0:B5@8AB8:0 281>@:8. >A;V465==O ?@>2>48;>AO =0 107V A5@54=L>W 7030;L=>>A2VB=L>W H:>;8 I-III ABC?5=V2 ! 121 <<. %0@:>20 7 CG=O<8 9-E :;0AV2. AL>3> C 4>A;V465==V 27O;8 CG0ABL 109 CG=V2 C A:;04V 50 E;>?G8:V2 B0 59 4V2G0B. AV CG=V =5 <0NBL 28@065=8E DV78G=8E B0 ?A8E>A><0B8G=8E 2V4E8;5=L. >A;V465==O A:;040;>AO 7 45:V;L:>E 5B0?V2. 0 ?>G0B:>2><C 5B0?V @>1>B8 <8 >1<56820;8AL A?>AB5@565==O< 70 ?>254V=:>N CG=V2, WE A?V;:C20==O< =0 ?5@5@20E, 70 7>2=VH=V< @>7?>4V;>< =0 ?52=V 3@C?8. !?>AB5@565==O 5D5:B82=5 4;O 1C4L-O:>W 5:A?5@8<5=B0;L=>W @>1>B8, 1> 2>=> O2;OT 68289 <0B5@V0; 4;O 4>A;V4=8:0 (=0?@8:;04, C ?>254V=FV ?V4;VB:V2 <>6=0 2;>28B8 =N0=A8, :>B@V 3>2>@OBL ?@> ?>B@51C C A?V;:C20==V 7V A2>W<8 >4=>;VB:0<8, ?@> <VAF57=0E>465==O :>=:@5B=>3> ?V4;VB:0 2 :>;5:B82V). 0 4@C3><C 5B0?V 7 ?V4;VB:0<8 1C;> ?@>2545=> 15AV40, 70240==O< O:>W 1C;>  @>73>2>@8B8 4VB59, 4>?><>3B8 W< 28A;>28B8 =0:>?8G5=5 7 ?@82>4C :>=D;V:BV2 7 4>@>A;8<8, 10BL:0<8 B0 >4=>;VB:0<8. 84V;5==O @O4C ?8B0=L, I> E28;NNBL ?V4;VB:V2, T <>6;82VABN 2AB0=>2;5==O 7 =8<8 5<>FV9=>3> :>=B0:BC. 5B>4 15AV48 T B@048FV9=8< 2 ?A8E>;>3VG=V9 ?@0:B8FV. C65 206;82> 2<VB8 A;CE0B8 B0 GCB8 B5, I> 3>2>@8BL 4>A;V4CT<89, 1> =5 :>6=89 ?V4;VB>: <>65 ;53:> ?VB8 =0 :>=B0:B, 7C<VB8 28A;>28B8 2;0A=V @>74C<8. 0 B@5BL><C 5B0?V ?@>E>48;> 282G5==O A>FV><5B@8G=>3> AB0BCAC CG=V2 ?@8 28:>@8AB0==V <5B>48:8  !>FV><5B@VO . &O <5B>48:0 T =091V;LH @>7?>2AN465=>N B0 4>AB0B=L> ?>@B0B82=>N 7 B8E, I> 28:>@8AB>2CNBLAO C ?@0:B8FV. >=0 T 4C65 V=D>@<0B82=>N 7 B>G:8 7>@C ?8B0=L <V6>A>18ABVA=8E 2V4=>A8= ?V4;VB:V2. 0 G5B25@B><C 5B0?V 70 4>?><>3>N <5B>48:8 @8E>60= 2V41C;>AO 282G5==O @V2=O B@82>6=>ABV ?V4;VB:V2. 81V@ A0<5 FL>3> ?>:07=8:0 =5 1C2 28?04:>28<, 1> :>;8 B@82>6=VABL 70:@V?;NTBLAO V AB0T 4>AB0B=L> ABV9:8< CB2>@5==O<, 281V@ AB@0B53VW ?A8E>:>@5:FV9=>W @>1>B8 7=0E>48BLAO 2 70;56=>ABV 2 B><C G8A;V 9 2V4 @50;L=>3> ?>;>65==O ?V4;VB:0 A5@54 @>25A=8:V2. 0:V=5FL, =0 >AB0==L><C, ? OB><C 5B0?V 4>A;V465==O <8 7@>18;8 ?>@V2=O;L=89 0=0;V7 @57C;LB0BV2, I> 1C;8 >45@60=V ?V4;VB:0<8, O:V <0NBL @V7=89 (?>;O@=89) A>FV0;L=89 AB0BCA 2 :;0AV  AB0BCA  7V@>: B0  2V425@65=8E . III.2. 5B>48 B0 <5B>48:8 4>A;V465==O. 82G5==O A>FV><5B@8G=>3> AB0BCAC CG=V2. 82G5==O A>FV><5B@8G=>3> AB0BCAC CG=V2 B@048FV9=> ?@>2>48BLAO 70 4>?><>3>N <5B>48:8  !>FV><5B@VO . !B0=40@B87>20=5 28?@>1C20==O 4;O 28<V@N20==O <V6>A>18ABVA=8E 2V4=>A8= 2 <0;8E 3@C?0E 2V41C20TBLAO H;OE>< ?>AB0=>2:8 =5?@O<8E ?8B0=L, 2V4?>2V40O =0 O:V, 4>A;V4CT<89 ?>A;V4>2=> >18@0T G;5=V2 3@C?8, O:8< 2V= 2V440T ?5@5203C ?5@54 V=H8<8 2 ?52=V9 A8BC0FVW. &59 ?@89>< 28:>@8AB>2CTBLAO ?@8 282G5==V 48=0<V:8 2=CB@VH=VE 2V4=>A8= 2 @V7=8E 2V:>28E 3@C?0E 4;O CAB0=>2;5==O ?>78FV9 V=482V4V2, =0O2=>ABV 70<:=5=8E 3@C?V@>2>:, ?>78B82=8E, :>=D;V:B=8E 01> =0?@C65=8E 30;C7V2, ABC?V=N 3@C?>2>W 73C@B>20=>ABV, <>B820FV9=>W AB@C:BC@8 2V4=>A8=. @8 FL><C C@0E>2CTBLAO =5 BV;L:8 :V;L:VA=89, 0;5 9 O:VA=89 1V: ?5@52060=L, I> 28@065=V 2 B5ABV.  70;56=>ABV 2V4 2V:>2>3> A:;04C 3@C?8 B0 A?5F8DV:8 70240=L 4>A;V465==O 28:>@8AB>2VNBLAO V=482V4C0;L=V B0 3@C?>2V D>@<8 5:A?5@8<5=BC, 0 B0:>6 @V7=><0=VB=V 20@V0=B8 ?@>F54C@8 4>A;V465==O. 5B>48:0 1C;0 28:>@8AB0=0 2 B@048FV9=><C 20@V0=BV. 82G5==O @V2=O B@82>6=>ABV C ?V4;VB:V2. 82G5==O @V2=O B@82>6=>ABV C ?V4;VB:V2 1C;> ?@>2545=> 70 4>?><>3>N <5B>48:8 @8E>60=. 5B>48:0 4>72>;OT 287=0G8B8 BV 30;C7V B0 >1 T:B8 4V9A=>ABV, O:V 4;O H:>;O@0 T >A=>2=8< 465@5;>< B@82>38. 5B>48:0 2:;NG0T >?8A A8BC0FV9 B@L>E B8?V2: 1) I> ?>2 O70=V 7V H:>;>N B0 A?V;:C20==O< 7 CG8B5;O<8; 2) I> 0:BC0;V7CNBL CO2;5==O ?@> A515; 3) A?V;:C20==O. . 0 <5B>48:>N 287=0G0NBL B0:V B8?8 B@82>6=>ABV: H:V;L=0, A0<>>FV=>G=0, <V6>A>18ABVA=0, 7030;L=0. 1@>1:0 @57C;LB0B8 <5B>48:8 74V9A=NTBLAO 70 4>?><>3>N  :;NG0 . 5B>48:0 28:>@8AB>2V20;0A1 =0<8 2 B@048FV9=><C 20@V0=BV. 82G5==O 03@5A82=>ABV. 82G5==O 03@5A82=>ABV ?@>2>48;>AO 70 4>?><>3>N <5B>48:8 0A0-0@:V. . 0A B0 . 0@:V @>73;O40NBL 03@5AVN O: :><?;5:A=89 D5=><5= V 284V;ONBL B0:V WW ?>:07=8:8: DV78G=0 03@5AVO, =5?@O<0 03@5AVO, @>74@0BV2;82VABL, =530B8287<, >1@070, ?V4>7@V;VABL, 25@10;L=0 03@5AVO, ?>GCBBO ?@>28=8. @V< B>3>, 70 4>?><>3>N <5B>48:8 <>6=0 7=09B8 V=45:A 7030;L=>W 03@5A82=>ABV B0 V=45:A 2>@>6>ABV. 5B>48:0 28:>@8AB>2C20;0AL 2 B@048FV9=><C 20@V0=BV. III.3. 57C;LB0B8 4>A;V465==O B0 WE 0=0;V7. 82G5==O A>FV><5B@8G=>3> AB0BCAC CG=V2. 57C;LB0B8 282G5==O A>FV><5B@8G=>3> AB0BCAC CG=V2 9-E :;0AV2 A5@54=L>W H:>;8 ! 121 <. %0@:>20 =02545=> 2 B01;8FOE 1-4. /: 10G8<>, A5@54 22 CG=V2 9- :;0AC A>FV><5B@8G=89 AB0BCA  7V@>: <0NBL 3 CG=O: 2 E;>?G8:0 V 1 4V2G8=0; A>FV><5B@8G=89 AB0BCA  2V425@65=8E <0NBL 2 CG=O, E;>?G8:8. !;V4 >4@07C ?V4:@5A;8B8, I> A5@54 ?8B0=L, O:V 1C;8 7040=V CG=O<, =5 1C;> ?8B0=L 7 =530B82=>N =0?@02;5=VABN, 0 A>FV><5B@8G=89 AB0BCA  2V425@65=8E =01C;8 BV CG=V, O:V =5 >45@60;8 6>4=>3> 281>@C. !5@54 29 CG=V2 9- :;0AC A>FV><5B@8G=89 AB0BCA  7V@>: <2NBL 4 CG=O: 2 E;>?G8:0 V 2 4V2G8=:8; A>FV><5B@8G=89 AB0BCA  2V425@65=8E <0NBL 3 CG=O: 2 4V2G8=8 V 1 E;>?5FL. !5@54 27 CG=V2 9- :;0AC A>FV><5B@8G=89 AB0BCA  7V@>: <0NBL 4 CG=O; 2 E;>?G8:0 V 2 4V2G8=8; A>FV><5B@8G=89 AB0BCA  2V425@65=8E <0NBL 3 CG=O: 2 E;>?G8:0 V 1 4V2G8=0. !5@54 31 CG=O 9- :;0AC A>FV><5B@8G=89 AB0BCA  7V@>: <0NBL 4 CG=O: 2 E;>?G8:0 V 2 4V2G8=8; A>FV><5B@8G=89 AB0BCA  2V425@65=8E <0NBL 3 CG=O; 1 E;>?5FL V 2 4V2G8=8. 02545<> 7030;L=C B01;8FN 40=8E, I> 1C;8 >45@60=V  7V@:0<8 B0  2V425@65=8<8 (B01;8FO 5). >40;LH5 28<V@N20==O 1C;> 7@>1;5=> A0<5 4;O CG=V2, I> <0NBL ?>;O@=89 A>FV><5B@8G=89 AB0BCA 2 :;0AV  AB0BCA  7V@>: B0  2V425@65=8E . 82G5==O @V2=O B@82>6=>ABV C ?V4;VB:V2.  @57C;LB0BV 282G5==O B@82>6=>ABV 70 4>?><>3>N <5B>48:8 .. @8E>60= 1C;8 28O2;5==V B0:V @V2=V B@82>6=>ABV: 7030;L=0, H:V;L=0, A0<>>FV=>G=0, >A>18ABVA=0. V4<VB8<>, I> B0:5 287=0G5==O 284V2 B@82>6=>ABV O2;OTBLAO ?@>4C:B82=8< V 7 B>G:8 7>@C WW <>6;82>W :>@5:FVV =040TBLAO <>6;82VABL B>G=> ;>:0;V7C20B8 7>=C ?>@CH5==O V =0 FV9 >A=>2V ?>1C4C20B8 2V4?>2V4=C ?A8E>:>@5:FV9=C ?@>3@0<C.  B01;8FV 6 =02545=> @57C;LB0B8 28<V@N20==O B@82>6=>ABV C CG=V2 7 @07=8< A>FV0;L=8< AB0BCA><, 0 2 B01;8FV 7 ?@54AB02;5=V A5@54=V ?>:07=8:8 @V2=O B@82>6=>ABV C 15  7V@>: B0 11  2V425@65=8E . "0:8< G8=><, <>6=0 A:070B8, I> C E;>?G8:V2- 2V425@65=8E 7030;L=0 B@82>6=VABL B@>E8 28I0, =V6 C E;>?G8:V2- 7V@>: ; H:V;L=0 B@82>6=VABL 28I5 C 4V2G0B- 2V425@65=8E , =V6 C 4V2G0B- 7V@>: ; 0 A0<>>FV=>G=0 B@82>6=VABL C 4V2G0B- 2V425@65=8E B@>E8 =86G5 , =V6 C V=H8E ?V4;VB:V2.  E>4V >1@>1:8 @57C;LB0BV2 B5ABC 1C;> 287=0G5=>, I> 70 45O:8<8 H:0;0<8 28<V@N20==O B@82>6=>ABV H:>;O@8 45<>=AB@CNBL B0: 720=89  =04<V@=89 A?>:V9 . ;5 O: 65 F5 =0A?@024V? .. @8E>60= 22060T, I> 70  =04<V@=8< A?>:>T< <>65 E>20B8AO =04<V@=0 B@82>30, ?@> =0O2=VABL O:>W CG5=L 70 @V7=8<8 ?@8G8=0<8 =5 1060T >A2V4><;N20B8 >B>GCNG8E. 2V4A8 7@>7C<V;>, I> H:>;0 =5 ?>2=VABN 70157?5GCT 28O2;5==O B@82>6=>ABV CG=V2, ?5@54 CAV< G5@57 25;8:C :V;L:VABL 2AV;O:8E  70E8A=8E B5=45=FV9, ?>G8=0NG8 2V4 5;5<5=B0@=8E (=51060==O  @>7:@820B8AO ?5@54 AB>@>==L>N ;N48=>N) 4> =09A:;04=VH8E 70E8A=8E <5E0=V7<V2. 0 @57C;LB0B0<8 ?>@V2=O;L=>3> 0=0;V7C <>6=0 ?>10G8B8, I> C E;>?G8:V2- 7V@>: @V25=L 7030;L=>W B@82>6=>ABV 1;87L:89 4> =>@<8, 0 C 4V2G0B>:- 7V@>: 2V= B@VH:8 ?V428I5=89; @V25=L 65 H:V;L=>W, A0<>>FV=>G=>W B0 >A>18ABVA=>W B@82>6=>ABV C AB0@H>:;0A=8:V2 7V AB0BCA><  7V@:0 >4=0:>289 C E;>?G8:V2 V C 4V2G0B (2V4?>2V4=>   =>@<0 ,  ?V428I5=0 ,  ?V428I5=0 ). # 4V2G0B- 2V425@65=8E @V25=L 7030;L=>W ( ?V428I5=0 ) B0 H:V;L=>W ( ?V428I5=0 ) B@82>6=>ABV 28I89, =V6 C E;>?G8:V2- 2V425@65=8E (B0:>6  ?V428I5=0 ), @V25=L A0<>>FV=>G=>W B@82>6=>ABV =86G89, 0 @V25=L >A>18ABVA=>W B@82>6=>ABV  >4=0:>289 ( ?V428I5=0 ). 030;L=0 B@82>6=VABL C 4V2G0B- 7V@>: V 4V2G0B- 2V425@65=8E ?V428I5=0, H:V;L=0 B@82>6=VABL C 4V2G0B- 2V425@65=8E ?V428I5=0, <V6>A>18ABVA=0 B@82>6=VABL C 4V2G0B >1>E :0B53>@V9 >4=0:>20 ( ?V428I5=0 ). 030;L=0 B@82>6=VABL C E;>?G8:V2- 7V@>: (=01;860TBLAO 4> =>@<8) =86G5, =V6 C E;>?G8:V2- 2V425@65=8E ( ?V428I5=0 ), H:V;L=0 B0 <V6>A>18ABVA=0 B@82>6=VABL <0965 >4=0:>2V ( ?V428I5=V ). 82G5==O 03@5A82=>ABV. ;O ?5@52V@:8 =0O2=>ABV 01> 2V4ACB=>ABV 70;56=>ABV <V6 A>FV><5B@8G=8< AB0BCA>< 2 :;0AV ?V4;VB:0 (=570;56=> 2V4 AB0BV) B0 @V2=5< 9>3> 03@5A82=>ABV 1C;> 28:>@8AB0=> B5AB 0A0-0@:V. B@8<0=V @57C;LB0B8 =02545=> 2 B01;8FV8 B0 =0 <0;N=:0E 1-11. "0:8< G8=><, @V25=L 7030;L=>W 03@5A82=VABL E;>?G8:V2- 7V@>: B0 E;>?G8:V2- 2V425@65=8E ?5@528ICT @V25=L 03@5A82=>ABV 4V2G0B. >:07=8:8 =5?@O<>W 03@5AVW B0 =530B82V7<0 C 4V2G0B- 7V@>: 1V;LH 28A>:V, =V6 C E;>?G8:V2- 7V@>: , 0 ?>:07=8:8 V=H8E A:;04>28E A8<?B><>:><?;5:AC 03@5A82=>ABV  1V;LH =87L:V (O: V >G8:C20;>AL). !;V4 BV;L:8 2V4<VB8B8, I> A5@54=T 7=0G5==O ?0@0<5B@C  >1@070 C 4V2G0B- 7V@>: B56 =86G5, =V6 C E;>?G8:V2- 7V@>: . # E;>?G8:V2- 2V425@65=8E B56 ?>:07=8:8 1V;LH>ABV ?0@0<5B@V2 A8<?B><>:><?;5:AC 03@5A82=>ABV (:@V< 25@10;L=>W 03@5AVV) 1V;LH 28A>:V, =V6 C 4V2G0B- 2V425@65=8E . 57C;LB0B8 E;>?G8:V2- 2V425@65=8E 7=0G=> ?5@528ICNBL @57C;LB0B8 E;>?G8:V2- 7V@>: 70 B0:8<8 ?0@0<5B@0<8, O:  =5?@O<0 03@5AVO ,  @>74@0B>20=VABL ,  =530B82V7< ,  >1@070 ,  ?V4>7@V;VABL , 0;5 70 ?0@0<5B@0<8  25@10;L=0 03@5AVO ,  DV78G=0 03@5AVO B0  ?>GCBBO ?@>28=8 1V;LH 28A>:V ?>:07=8:8 C E;>?G8:V2- 7V@>: . 57C;LB0B8 4V2G0B- 2V425@65=8E C ?>@V2=O==V 7 @57C;LB0B0<8 4V2G0B- 7V@>: 1V;LH 28A>:V 70 B0:8<8 ?0@0<5B@0<8 A8<?B><>:><?;5:AC 03@5A82=>ABV, O:  7030;L=0, DV78G=0 B0 25@10;L=0 03@5AVO ,  =530B828V7< ,  >1@070 ,  ?V4>7@V;VABL ,  2>@>6VABL ,  ?>GCBBO ?@>28=8 V 1V;LH =87L:V 70 B0:8<8 ?0@0<5B@0<8, O:  =5?@O<0 03@5AVO B0  @>74@0B>20=VABL . "0:8< G8=><, <>6=0 A:070B8, I> ?>:07=8:8 A8<?B><>:><?;5:A0 03@5A82=>ABV <5=H ?>2 O70=V 7 A>FV><5B@8G=8< AB0BCA>< AB0@H8E H:>;O@V2, =V6 ?>:07=8:8 B@82>6=>ABV. . IY. ! 0 ?V4AB02V 282G5==O =0C:>2>W ?A8E>;>3VG=>W ;VB5@0BC@8 B0 0=0;V7C >B@8<0=8E @57C;LB0BV2 <>6=0 7@>18B8 B0:V 28A=>2:8. !>FV><5B@8G=89 AB0BCA AB0@H8E H:>;O@V2 >1C<>2;NT 28=8:=5==O ?52=8E >A>18ABVA=8E @8A (7>:@5<0  B@82>6=>ABV B0 03@5A82=>ABV) V, 2 A2>N G5@3C, >1C<>2;NTBLAO =8<8. # H:>;O@V2, I> <0NBL A>FV><5B@8G=89 AB0BCA  7V@>: (=570;56=> 2V4 AB0BV), =091V;LH 287=0G5=0 A0<>>FV=>G=0 V =09<5=H  H:V;L=0 B@82>6=VABL, I> <>6=0 ?>OA=8B8 =5>1EV4=VABN ?>ABV9=> ?V4B@8<C20B8 A2V9 ?>78B82=89 >1@07 2 3;070E >4=>;VB:V2 01> D>@<C20B8 9>3> (O:I>  7V@:0 70 1C4L-O:8<8 ?0@0<5B@0<8 =5 2V4?>2V40T 28<>30< ?V4;VB:>2>W AC1:C;LBC@8) V 2V4=>A=> AB01V;L=8<8 ?>78B82=8<8 2V4=>A8=0<8 CG=O 7 2G8B5;O<8. # H:>;O@V2, I> <0NBL A>FV><5B@8G=89 AB0BCA  2V425@65=8E (=570;56=> 2V4 AB0BV), =091V;LH 287=0G5=0 <V6>A>18ABVA=0 V =09<5=H  H:V;L=0 B@82>6=VABL, I> <>6=0 ?>OA=8B8 =528@VH5=VABN 4;O =8E 68BBT409=>W ?@>1;5<8 ?V4;VB:>2>3> 2V:C  ?@>1;5<8 <V6>A>18ABVA=>W 270T<>4VW 7 >4=>;VB:0<8. # E;>?G8:V2- 2V425@65=8E @V25=L <V6>A>18ABVA=>W B0 H:V;L=>W B@82>6=>ABV 1V;LH 28A>:89, =V6 C E;>?G8:V2- 7V@>: , 0 @V25=L A0<>>FV=>G=>W B@82>6=>ABV >4=0:>289, I> A2V4G8BL ?@> <>6;825 D>@<C20==O 2 ?>40;LH><C =52@>B8G=8E @8A E0@0:B5@C. # 4V2G0B- 2V425@65=8E @V25=L <V6>A>18ABVA=>W B0 H:V;L=>W B@82>6=>ABV B56 1V;LH 28A>:89 C ?>@V2=O==V 7 4V2G0B0<8- 7V@:0<8 , 0 @V25=L A0<>>FV=>G=>W B@82>6=>ABV  <5=H89, I> <>6=0 ?>OA=8B8 B8<, I> A8BC0FVN 2V4ACB=>ABV 4>1@8E 2V4=>A8= 7 >4=>:;0A=8:0<8 2>=8 A?@89<0NBL O: =5704>2V;L=C, 0;5 <0NBL <>6;82VABL 4;O A0<>AB25@465==O V=H8<8 70A>10<8. >7?>4V; ?>:07=8:V2 03@5AVW A5@54 3@C? AB0@H>:;0A=8:V2, I> <0NBL @V7=89 A>FV><5B@8G=89 AB0BCA, T B@048FV9=8< V >G8:C20=8< B0, A:>@VH5 70 2A5, 287=0G0TBLAO AB0BLN B0 >A>1;82>ABO<8 28E>20==O ?V4;VB:0. "0:8< G8=><, <>6=0 :>=AB0BC20B8 =0O2=VABL C ?V4;VB:V2 7=0GCI>3> 72 O7:C <V6 A>FV><5B@8G=8< AB0BCA>< 2 :;0AV B0 B@82>6=>ABN B0 2V4ACB=VABL 7=0GCI8E 72 O7:V2 <V6 A>FV><5B@8G=8< AB0BCA>< 2 :;0AV B0 ?0@0<5B@0<8 A8<?B><>:><?;5:AC 03@5A82=>ABV. (">1B> 3V?>B570 4>A;V465==O ?V4B25@48;0AO G0AB:>2>.)      HYPERLINK "http://globalteka.ru/" globalteka.ru - @0<>B=>5 8 :0G5AB25==>5 2K?>;=5=85 2A5E 284>2 =0CG=KE @01>B. !:84:8, >@838=0;L=>ABL, :>=B@>;L ?;0380B0, ?@O<>5 >1I5=85 A 02B>@><. f~(NPRTVXZ\^`bdfJL $dh^a$ $dh^a$$dha$ $dh`a$Rf h j p ,2|R!!""## &8&:&&&r())))H*34G4GnSpS4T8TPTdb c(d*d.d0d4d6d:d*CJmH"sH" h>* h5h5mH sH  hbhhhmH sH hbh5CJhbhmHsH2r  N x ~*,z|t P!R!!!"#%%& & $dh`a$ &8&:&&4)))))H*J*8+.R/01233446:;D?BDEG $dh`a$GG4G6GIJzLM&PR TTTTTTTTTT T"T$T&T(T*T,T.T0T $dh`a$0T2T4TNTPT:U|VY[]P`a(d,d.d2d4d8d:d>d@deeee$a$gdbgdb & F@dBdDdVdZdbdhd|d~dddddddddeeeeܴ룖뇃hhbhjhbB*CJ aJ phh~whb0JCJ aJ h~whb0JCJ aJ mH sH .jhbB* CJ UaJ mH phpsH hbB* CJ aJ mH phpsH h~whbB* CJ aJ php(jhbB* CJ UaJ mH phpsH (. A!"n#n$n% DyK yK Dhttp://globalteka.ru/yX;H,]ą'c^ 666666666vvvvvvvvv666666>6666666666666666666666666666666666666666666666666hH6666666666666666666666666666666666666666666666666666666666666666662 0@P`p2( 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p8XV~_HmHnHsHtH:`: 1KG=K9_HmHsHtHBA`B A=>2=>9 H@8DB 0170F0\i@\ 01KG=0O B01;8F0 :V 44 la .k . 0 5B A?8A:0 rC@r A=>2=>9 B5:AB A >BABC?><$dh`a$CJmH"sH"uVB@V A=>2=>9 B5:AB$dha$5CJ mH"sH"uxR@x A=>2=>9 B5:AB A >BABC?>< 2$dh`a$5CJmH sH uL@"L b05@E=89 :>;>=B8BC;  E$Fo1F b05@E=89 :>;>=B8BC; =0:J @BJ b086=89 :>;>=B8BC;  E$D/QD b086=89 :>;>=B8BC; =0:J@bJ b0 "5:AB 2K=>A:8CJOJQJ^JaJPoqP b0"5:AB 2K=>A:8 =0:CJOJQJ^JaJ:U`: b0 8?5@AAK;:0 >*B*phPK![Content_Types].xmlN0EH-J@%ǎǢ|ș$زULTB l,3;rØJB+$G]7O٭VCWNIA!ޝ}7/݉%BR7Hw9!p<Ǥፉ.EB\ /T*Y>,cy'$gC."Vso+C1OǓt}8>V3mBb%DWs'O''Gw ~lh;UM!DzŬ;C K^ysJJ1KRμ)~.ک/ Y\n9?[]67)qnpJOF$ w;fCLL&׸m%]V%z-{ v8Ҩm-.xo(-ms~ۜ|s>Ͼ%O04h=یщ!eƌ\f :C*OiIA 64HpUa7 UO3 d:(fA@٣>N"Hhp&hA38 )SUUR'V5&HM.6xpyn,ބ!h^^Z4~0#w,,& g"Ic힍Q)˕C6%^+Hk!$A*#.D)irdq8Y^}q~C>Np%uJx?+al|zf[Ux5b>c!:M (MkIVEpYPҍN2$ÿ -.h۴"P6T{T 6]u̒VhVnR+n;)ȔbL X6Y`+qB]( 0H1$6_[s)k8Tm Aa?R d ڒɾ0{eRF& Ī't\{BHuM6`pGϽO+!XoN'^[crh2*tW<{1U+l_QSncX<)Q(wJH ٯ#zCm>nhf6t}M&ʺ6ײ'\gkNS:;\qN-S;kǺ"{DailL`̗/޿ ^o#I&%0]SPV!] PK! ѐ'theme/theme/_rels/themeManager.xml.relsM 0wooӺ&݈Э5 6?$Q ,.aic21h:qm@RN;d`o7gK(M&$R(.1r'JЊT8V"AȻHu}|$b{P8g/]QAsم(#L[PK-![Content_Types].xmlPK-!֧6 0_rels/.relsPK-!kytheme/theme/themeManager.xmlPK-!^}-theme/theme/theme1.xmlPK-! ѐ' theme/theme/_rels/themeManager.xml.relsPK] ߥ t 4hjR@deW\]< 5i6 &G0TeXYZ[^_ 1?X8@0(  B S  ? _Hlt310206484M@NNObc>DY^nu(EHL#g`a/238Qcd   { |   < = - . Z [  '.;BJQU[BC?Z\FGkl>?JMbc34#$}~uvIJdf#$KL9j35DNWgtyF H R !!!J!u!v!!!!!!!!!""""""j#k#{#}####'$$$$$%V%%&&& &"&X&&&&&&'';'T'\']'a'c'''''*(+(5(7())*.*0*1*5*I****+2+3+++++++,,0,1,,,,,-w----- . .9.:._.`.m.o......... /0/1/o/u/"0/000:0t000001X1Y1b1k1w1{1111272d2e2{2}2222244n55G6H6^7_777 8!80828889969s999S:T:u;v;;;;;-<.<5<7<m<<<===>>3>5>F>G>Z>]>s?t???????@@@ @@%@'@@@uAvAAA8B9BbBcBpBrBBBRCSCCCDDDD@EAEEEEEFFFFFGGG GGGGGG@HBHmHnHHHI!I)I+IrIsIIIBJCJRJTJJJJJKKDLL%M-NvNwNNN'O(OCOFO^O_OPP4P5P~PPQ+QQ R RiR$S%S:S;SqSsS|SSSSFTGT/U0U9U;UAUDUlUmUoUpUtUuUUUUUUUUUUUUUV VVVJVKVwVxV{V|VVVVVVV*W+W2W4W`WbWiWkWqWsWWW[X\XfXhXqXtX YYYYYYTYUY_Y`Y\\.^^ _;_E_F_T_U_a_b_g_h_q_r_w_x__________________________``` ` ```'`(`2`C`N`R`W`]`c`e`m`n`v`x`````````````````````````aaaaaa#a$a0a4a:aGaLaMa[a\a_a`afagakalauaaaaaaaaaaaaaaaaaaaaaabb b bbbbb*b-b7b:bBbKbPbWb\b]bibmbubvbbbbbbbbbbbbbbbbbbbbbbbbbbbcccccccc(c*c2c3c:cBcFcGcLcNcZc^cecfcsctcccccccccccccccccccccccdddddd#d$d0d4d:d;dHdIdVdYdddfdkdldtdud|d}dddddddddddddddddddeeeesfufffffff g gGgHgggggggIhJhhhkhiiiiiijjljjjjjkkkk?l@lllllmmmmmmnn"n#n(n)nnnnnnnnnLoMotooooooooo qqq=qCqVq>r?rrrrrrrrrrrrrssuuuuvvvvvvvw#w)wXwgwnwqw|w}wwwwwwwwwwwwwwwwwwwwwwxxxx!x*x1x7x9x@Ѓ҃DTXkل),HI…Åȅ˅ot9=GPZ_`fgmnwxÇć̇և$%njɌ׌،ǎȎǒȒǓȓÔ$&FHefqsŕɕ!"-1:>su~—Ǘɗ֗ח=>CEcdilɘʘ45:=IJUWnoΙϙڙݙ().023JKZ^mq{КҚ՚֚ %&13VW\^˛ϛڛޛ?@OQTUdgל&(=>ijor !$RSX[ݡޡfgsu|}̢͢01_jߤ  FPQSݥMOac=DX^muGijUVF G ~JKFG[\#$LMQR| ~!!""%%((**k-l-///#00022|2}2$3%3+4,45 577889999S:T:::::<<\>]>E?F??? B BDDSFTFHHIIKK$M%MNNPPwQxQRR$S%SUUUUVV1X2X_Y`YZZyZzZZZ\\\\]]8_F_I___``vbybbbbb=cDcccdddeegggghhjjllnn o oXpYpqq>r?rssJvKvv)wXwqwuwww|xx,y.yyykzlz6{7{{{d|g|}d}~~FGtuЃ҃ʅ˅ab9;χ#%OPPQ֌،~PQȕɕ <=ܙݙfg&(=>ҟӟӡԡ'( Uaݥ33333333G\`nn…˅ߤ ۥݥ7lv 84G+En@lG m"MFDx4{y ^` o(.0^`0o(.GG^G`o()0^`0o(.0^`0o(.0^`0o(.88^8`o(.7"M4G+En@lGlv FDx{yb@(Sߥ UnknownG*Ax Times New Roman5Symbol3. *Cx Arial5. .[`)TahomaA$BCambria Math"qhmFFKqT+qT+Y20 KqHX  $Pb2!xx Tanja025;(       Oh+'0T    (4<DLTanjaNormal27Microsoft Office Word@_`@sտ@+Hzq՜.+,D՜.+,0 hp|  T&S+T    8@ _PID_HLINKSAdhttp://globalteka.ru/  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~Root Entry Ff IzData 1TablePWordDocument*tSummaryInformation(DocumentSummaryInformation8CompObjr  F Microsoft Word 97-2003 MSWordDocWord.Document.89q