Droit-Afrique.com Senegal - Convention collective interprofessionnelle
Mutation provisoire à un emploi relevant d'une catégorie inférieure... 9. 2. Mutation dans une commune ou localité différente de celle du lieu de travail ...
Sénégal Code du Travail
1 déc. 1997 compte ni du statut juridique de l'employeur ni de celui de l'employé. Les personnes nommées dans un emploi permanent d'un cadre d'une ...
Senegal - Loi n°1997-17 du 1er decembre 1997 portant Code du
1 déc. 1997 celui de l'employé. ... conditions d'exercice et l'organisation du travail. ... nulle de plein droit toute clause d'un contrat de travail ...
Programme des conditions de travail et demploi Étude sur le temps
Les publications du Bureau international du Travail jouissent de la protection du droit d'auteur en vertu du protocole no 2 annexe à la.
Guide de mise en place daménagements du temps de travail
Outre ces répercussions sur la santé individuelle des travailleurs il apparaît clairement que les emplois comportant régulièrement de longues heures de travail
Loi du Pays n° 2011-15 du 04_05_2011-consolidé-1
partie VI du code du travail relatives au dispositif d'aide à l'emploi de type rémunération du salarié employé à temps partiel est au moins égale à ...
LE MANUEL DU TRAVAILLEUR.qxd
règlementaires et conventionnels relatifs au droit du travail. subordonner l'emploi d'un travailleur à la condition qu'il ne s'affilie pas.
Manuel de la réglementation du transport aérien international
les conditions d'emploi du personnel des transporteurs organisation d'États) de travailler ensemble à un accord ou une entente en matière de services ...
Loi du Pays n° 2011-15 du 04_05_2011-consolidé-1
partie VI du code du travail relatives au dispositif d'aide à l'emploi de type rémunération du salarié employé à temps partiel est au moins égale à ...
GDFHTS/2010 - Document soumis aux fins de discussion lors du
24 nov. 2010 dans le secteur de l'hôtellerie-restauration et du tourisme et leur ... d'emplois à temps partiel les écarts sont très marqués entre le ...
2èmeEdition
U<438C8>=
#/,!0!&''$/, ,*&.#/,!0!&' !/2)2%!' (&6(+-'(45(95(4-(*+4-$5+)43=*-(.(/5$+3(4(5&0/7(/5+0//(-4
U<438C8>=
o=BMiI:K HG=:MBHG KB>=KBKM\b:D:K =K>LL> 0BEE:;>KM\bO>GN>=>LF;:LL:=>NKL :GG,iLB=>G<> .iE :QHeM>IHLM:E>
:D:K :GG-iGi@:E ':BE ?>L=:D:KHK:G@>LG?>L?>LLG
HK@ -BM> PPP ?>LLG HK@ ,>LIHGL:;E> KB>=KBIKiL>GM:GM,iLB=>GM HHK=BG:MBHG &NGG>(#)(-:EBHN%)(.\bA:K@i=>*KH@K:FF> 'BL>>GI:@>CB;KBE && iIcMEi@:E ->IM>F;K> 4 &BGBMB:MBO>=NG>MKHBLBfF>i=BMBHG=NKiLNEM>=NG>
?HKM> =>F:G=> => MHNL E>L :LHGI:KMBK
$> OHN=K:BL\b I:K E: FhF> H<<:LBHG\b ?iEBKi:EBL:MBHG
"0=B>DA(. 'BGBLMK>=>E: HGG>??>M\bLBE:
\bE>MK:O:BE:NLLB?E>NKBML:GLGNE=HNM> NG> I:K?:BM> F:eMKBL> => <>L =KHBML I:K MHNL <>NQ JNB BGM>KOB>GG>GM =:GL E:K>E:MBHG => MK:O:BE
>L LRG=B<:ML :N I:MKHG:M\b >G I:LL:GM I:K E>L CN@>L\b E>L :OH<:ML >M E>L MK:O:BEE>NKL >NQFhF>L\b MHNL =HBO>GM :OHBK NG :<KMANK,BF;:N=\b/G>L:BLHG>G>G?>K
>EE>L IKiGM>L IN;EB<:MBHGL\b >LM NG K>LH MK:O:BE:N-iGi@:E\b:<<>LLB;E>kMHNL
&: O>KLBHG iE> >G ?HKF:M * => E: fF> i=BMBHG =N V':GN>E =N .K:O:BEE>NKY >LM =BLIHGB;E> LNK E> LBM> P>; => E: HG=:MBHG KB>=KBKM PPP ?>LLG HK@ A834A827 '""()'"$(
,>IKiL>GM:GM,iLB=>GM =>E: HG=:MBHG KB>=KBKM:N-iGi@:E 0(.*,)*)-
:NMK:O:BE #0&>*:FHG=B:EIHNKEFIEHB .#.,#BLIHLBMBHGL@iGiK:E>L .#.,##>LLRG=B<:MLIKH?>LLBHGG>EL .#.,###NMK:O:BE .#.,0NMlKHGG:M .#.,0##NKf@E>F>GMBGMiKB>NK .#.,0###N<:NMBHGG>F>GM .#.,#2NL:E:BK>>M=>L>L:<<>LLHBK>L .#.,2>L>MLiLHK@:GBLF>L>MFHR>GL=>QiL=B??oK>G=L=NMK:O:BE .#.,2#0*iG:EBMiL .#.,20BLIHLBMBHGLMK:GLBMHBK>L GG>Q>L
.#.,#GHNO>:NBLIHLBMBHGL@iGiK:E>L .#.,##NMK:O:BE .#.,###NL:E:BK> .#.,#0HG=BMBHGL=NMK:O:BE .#.,0"R@BfG>>MLiLHK@:GBLF>L>MFHR>GL=>QiL=B??iK>G=L=>MK:O:BE 444
4 44
I:KE>-iGi@:E
HGO>GMBHGG`LNKE>MK:O:BE=>GNBM?>FF>L\b
HGO>GMBHGG`
LNKEl@>FBGBFNF:@KB\b
HGO>GMBHGG`
LNKE>=KHBM=:LLH\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKE:I>BGMNK>\b
HGO>GMBHGG`
LNKE>K>IHLA>;=HF:=:BK>BG=NLMKB>\b
HGO>GMBHG G`
LNK Ei@:EBMi => MK:BM>F>GM :<GML =N MK:O:BE\b HGO>GMBHG G` LNK E>L FiMAH=>L => ?BQ:MBHG =>L L:E:BK>L FBGBF:\b HGO>GMBHGG`LNKE>MK:O:BE?HK &>F:GN>E=NMK:O:BEE>NK\b HGO>GMBHGG`LNKE>L HGO>GMBHGG`
LNKEBGLI> HGO>GMBHGG`LNKE:IKHM>\b
:<<>IMiE>L=BLIHLBMBHGL=>E:I:KMB>## HGO>GMBHGG`
LNKEi@:EBMi=>KiFNGiK:MBHG\b
HGO>GMBHGG`
LNKE>L\b
HGO>GMBHGG`
&>-iGi@:E::<<>IMiE>LI:KMB>L0#>M0### &:I:KMB>0#:<>LLi=>L:IIEBJN>K HGO>GMBHGG`
LNKE:;HEBMBHG=NMK:O:BE?HK HGO>GMBHGG`
HGO>GMBHGG`
IHKM:GMKiOBLBHG=>L:KMBL?BG:EL\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKEAR@BfG>K<>>M;NK>:NQ\b
HGO>GMBHGG`
>M=>F:E:=B>LIKH?>LLBHGG>EE>L\b M:;E>:N#FH=B?Bi>G
HGO>GMBHGG`
LNKE:IHEBMBJN>=>E>FIEHB\b
HGO>GMBHGG`
LNKE>L;K>O>ML=><:I:LIhNKL\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKEl@>FBGBFNF=:=FBLLBHGkE>FIEHB\b
HGO>GMBHGG`
LNKE>LL
HGO>GMBHGG`
LNKE>LIBK>L?HKF>L=>MK:O:BE=>L>G?:GML\b
HGO>GMBHGG`
KiOBLi>=NMK:O:BE=>GNBM?>FF>L\b
iGHGE> iGHGE:K:MB?B<:MBHG =>E:GMBHGG` HGO>GMBHGG`LNKEl@>FBGBFNFBG=NLMKB>\b
iGHGE> iGHGE> iGHG E: GMBHG >M K:MB?B<:MBHG => E: GMBHG G` HGO>GMBHGG`
LNKE>LF:E:=B>LIKH?>LLBHGG>EE>L\b
iGHGE> 4 >LM>LL>GMB>EE>IHNK:LLNK>KNG>I:BQNGBO>KL>EE>>M=NK:;E> MM>G=N JN> E: i >LM >LL>GMB>EE> F:BL G>LM I:L >M JN> <>E: E: Gi<>LLBMi IHNK E)#. => IKHFHNOHBK =>L IHEBMBJN>L LHLLHEB=>L\bE:CNLMB<>>M=>LBGLMBMNMBHGL=iFHL E>L =HF:BG>L => L: G<>\b >G I:KMBK E>FIEHB\b E: ?HKF:MBHG iL >M LHL L> K>G?HK<>GM FNMN>EE>F>GM >G ON> =BGLM:NK>K NG =iO>EHII>F>GME:K@>>M=NK:;E> MM>G=N JN> E)#. =HBM IHKM>K NG> :MM>GMBHG LIi :NQ IKH;EfF>L =>L BGM>KG:MBHG:NQ M>G=:GM k KiLHN=K> E>NKL IKH;EfF>L\b >M IKHFHNOHBK =>L IHEBMBJN>L>??B<:<>LOBL:GMkK=>L>FIEHBL
K>OhM NG> BFIHKM:G<> >M NG> LB@GB?B<:MBHG I:KMBL >G =HGG:GM :NQ =>Ki:EBL>KIE>BG>F>GME>NKIHM>GMB>EANF:BG MM>G=N JN> E)#. >LM EHK@:GBL:MBHG BGM>KG:MBHG:E> F:G=:Mi> I:K L: HGLMBMNMBHG\b :BGLB JN> EHK@:G> GM IHNK iM:;EBK E>L GHKF>L MK:O:BE\b>GM:GMJN>QIK>LLBHG=>L>LIKBGLEL BGL E)K@:GBL:MBHG :BGLB JN> => IKHFHNOHBK E>NK :IIEB<:MBHGNGBO>KL>EE> &:HG?iK>G<>BGM>KG:MBHG:E>=N.K:O:BE\b ,:II>EE> XJN>G :=AiK:GM EB;K>F>GM k E)#.\b E>GL>F;E> => L>L '>F;K>L HGM i *ABE:=>EIAB>\b >M L> LHGM >G@:@iL k MK:O:BEE>K k E: Ki:EBL:MBHG =>L H;C>GL>F;E> => E)K@:GBL:MBHG\b =:GL MHNM> E: F>LNK>=>E>NKLFHR>GL>M=>E>NKLIi =KHBML >M =H;EB@:MBHGL LIiL =:GL =>L GMBHGL K>L ?HG=:F>GM:E>L\b M:GM k EBGMiKB>NK JNk E>QMiKB>NK => E)K@:GBL:MBHG
E)K@:GBL:MBHG\b => K>LI>K\b IKHFHNOHBK >M Ki:EBL>K\b => ;HGG> ?HB >M GM k E: HGLMBMNMBHG\b E>L IKBGL KG:GM E>L =KHBML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL\bkL:OHBK &>F:GN>E=NMK:O:BEE>NK\b XE: EB;>KMi =:LLHM E: K> >??> =N =KHBM => Gi@H
XEiEBFBG:MBHG=>MHNM>?HKF>=>MK:O:BE?HK XE:;HEBMBHG>??>=NMK:O:BE=>L>G?:GML
?:BL:GM IE>BG>F>GM :II>E k L>L FHR>GL EL\b IK:MBJN>L >M ;N=@iM:BK>L\b R L K>LLHNK<>L >M E:LLBLM:G<> >QMiKB>NK>L\b :BGLB JN>G >G:GM =:NMK>L HK@:GBL:MBHGL BGM>KG:MBHG:E>L :O>< E>LJN>EE>L E)#. : iM:;EB =>L K>E:MBHGL\b >G O>KMN => E:KMB => L: HGLMBMNMBHG\bkLHNM>GBK<>L>??HKML
k IKHFHNOHBK E: K:MB?B<:MBHG >M E:IIEB<:MBHG =>L GMBHGL ?HG=:F>GM:E>L K:MB?B>K E>GL>F;E> HN <>KM:BG>L => <>L GMBHGL =:GL E>NKL >??HKML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL X>G :B=:GM L>L '>F;K>L =:GL E>NKL >??HKML IHNK BGLM:NK>K NG IKHIB<>:N=iO>EHII>F>GMi>MLH I:KMB>BGMi@K:GM>=>E:IKiL>GM>i hMK> BGOHJNi GB L>KOBK k I:K>BEE> ?BG >G HNMK>\b E:O:GM:@> IKiL>GM>iMLHGLNBOB
'>F;K>L => E)K@:GBL:MBHG >G ON> => IKHFHNOHBK E>L IKBGL >M =KHBML HG?HKFiF>GM k <>M H;C>F>GM IKHFHMBHGG>E\b <> LNBOB =>OK: >G\NOK><>LIKBGL>M=KHBML?HG=:F>GM:NQ #EG>IHNKK:L>LN;LMBMN>K:NQ Fi<:GBLF>L => iM:;EBL HN >GMK:O>K E>NK ?HGF>GM >G G<>\b E>L LBMN:MBHGL I:KMBL K>E>O:GM =>L=BML Fi<:GBLF>L G> &>L =>NQ OHE>ML => <> LNBOB\b =iKHGM :II>E :NQ IKHL >QBLM:GM>L E>LNBOB:GGN>EKG:GME>LGMBHGLGHGK:MB?Bi>LBFIEBJN>K: LBFIE>F>GM NG <>KM:BG Ki:FiG:@>F>GM =>L FH=:EBMiL :EE>L => FBL> >G \NOK>=>E:KMB \bI:K:@K:IA>>\b=>E:HGLMBMNMBHG E>K:IIHKM@EH;:E=HBM I>KF>MMK> =HIMBFBL>K E>L KiLNEM:ML =>L IKHL FBL>L >G \NOK> GMkE:HGLMBMNMBHG E> HGL>BE =:=FBGBLMK:MBHG >G
\b E>L >??HKML =iIEHRiL GM k E: &>F:GN>E=NMK:O:BEE>NK\b ?HG=:F>GM:E>L ?HG=:F>GM:NQiGNFiKiL=:GLE:i>\b=>E:HGLMBMNMBHG &>L?HKFNE:BK>L=><>LK:IIHKMLL>KHGM IENLB>NKL =>L GMBHGL ?HG=:F>GM:E>L =>L BG?HKF:MBHGL LNK MHNM>L FH=B?B<:MBHGL iO>GMN>EE>L :IIHKMi>L k E>NK Ei@BLE:MBHG >M k E>NK IK:MBJN>\b >G I:KE>HGL>BE=:=FBGBLMK:MBHG
G ON> => IKiL>GM>K NG> BGMKH=NM>??>MI:KE>HGL>BE=:=FBGBLMK:MBHG I>KF>MMK> :NQ '>F;K>L GHG K>IKiL>GMiL :N HGL>BE =:=FBGBLMK:MBHG => ENB E>NKLK:IIHKMLkEH<<:LBHG=>L>L=BL E:LLBLM:G<> :IIHKMi> I:K E)K@:GBL:MBHG >M =iM>KFBG>K =>L IKBHKBMiL IHNK E: IiKBH=> LNBO:GM>\b LHNL ?HKF> => IE:GL =:G F:MBfK> => QM>KG>LGi<>LL:BK>LkE>NKFBL>>G\NOK> &> K:IIHKM IHKM>K: k MHNK => KcE> :GGi> LNK ENG> =>L JN:MK> :GLE><:L=>L'>F;K>L M:GMJN>K:IIHKM=NBK>NK@iGiK:E
>EE>K<>K:IIHKM NG K:IIHKM =BLMBGL K:IIHKML OBLiL k E:KMB
=> LHG ,f@E>F>GM >M >G MHNM> :NMK> F:GBfK> :IIKHIKBi>
#E :II:KMB>G=K: >GLNBM> :N HGL>BE #E>LM>GM>G=NJN> &> HGL>BE =:=FBGBLMK:MBHG >M E: HG?iK>G<> =>OKHGM hMK> L:BLBL =>L >G\NOK>E>L=BLIHLBMBHGLJNBIKiGM &>F:GN>E=NMK:O:BEE>NK\b 54
k -:G K:G HGL>BE =:=FBGBLMK:MBHG =N NK>:N BGM>KG:MBHG:E =N .K:O:BE\b>MLRiM:GMKiNGB>E> CNBG \b>GL:MK>GM>>MNGBfF>L>LLBHG IKfL :OHBK =iK LHNL ?HKF> =NG> GMBHG =BO>KL>L JN>LMBHGJNBE>L>IMBfF>IHBGMkEHK=K>=NCHNK=>E:L>LLBHG HGLB=iK:GM JN> E> *Ki:F;NE> => E: HGLMBMNMBHG => E)K@:GBL:MBHG EB;>KMiLRG=B<:E>Y
IKH@KfLLHNM>GNY
HGLB=iK:GM JN> E: HG?iK>G<> BGM>KG:MBHG:E> =N .K:O:BE\b k L: MK>GMBfF> Ki@E>F>GM:MBHGBGM>KG:MBHG:E>
HGLB=iK:GM JN> ELL>F;Ei> @iGiK:E> =>L (:MBHGL /GB>L\b k L: =>NQBfF> LNBO:GM>L
E> =KHBM\b L:GL :NMHKBL:MBHG IKi:E:;E>\b => K =>L HK@:GBL:MBHGL => E>NK K:NQLM:MNML=><>L=>KGBfK>L AC82;4
&>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM =iE:;HK>K E>NKL LM:MNML >M Kf@E>F>GML :=FBGBLMK:MB?L\b =iEBK> EB;K>F>GM E>NKL K>IKiL>GM:GML\b =HK@:GBL>K E>NK @>LMBHG >M E>NK :M => ?HKFNE>K E>NK IKH@K:FF>=: AC82;4 &>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM => &>F:GN>E=NMK:O:BEE>NK\b AC82;4 &: E: I>KLHGG:EBMi CNKB=BJN> I:K E>L HK@:GBL:MBHGL => =BLIHLBMBHGL=>L:KMBL\b>MLLNL AC82;4 :GL E>Q>K =>L =KHBML JNB E>NK LHGM K>GM> Ei@:EBMi
AC82;4 &: F>LNK> =:GL E:JN>EE> E>L @:K:GMB>L IKiON>L I:K E: IKiL>GM> E:Ei@BLE:MBHGG:MBHG:E>
=>E:KMB >QBLM:GM JNB :<GM :NQ F>F;K>L =>L ?HK<>L :KFi>L >M => E: IHEB<> =>L @:K:GMB>LIKiON>LI:KE:IKiL>GM>GMBHG AC82;4
E: IKiL>GM> GMBHG >LM >G OB@N>NK L>G@:@> k IK>G=K> MHNM>L F>LNK>L EB;K>>Q>K=N=KHBMLRG=B<:E
HGLMBMNMBHG => E)K@:GBL:MBHG BGM>KG:MBHG:E> => .K:O:BE M>EE> JN>EE> : iMi BGM>KG:MBHG:E> =N .K:O:BE\b
\b k E>QL M>KKBMHBK>L OBLiL I:K E>L IENL;K>?=iE:BIHLLB;E>:IKfLL:K:MB?B<:MBHG\bNG>=i GMBHGLHB>GM:IIEBJNi>LL:GLFH=B?B<:MBHG GMBHG LHB>GM :IIEBJNi>L :O>< =>L FH=B?B<:MBHGL\b >M >G JNHB GME>L=BM>LFH=B?B<:MBHGL K:BLHGLIHNKE>LJN>EE>L>EE>>LMBG:IIEB<:;E>
=>L >??>ML B=>GMBJN>L .HNM '>F;K> IHNKK: K>GHG<>K I:K NG> GHNO>EE> =i =>L KiL>KO>L GN>L =:GL L: =iGM:KMB \b LBMN:MBHG=:GL=>LM>KKBMHBK>L=iM>KFBGiL
AC82;4
&>F:GN>E=NMK:O:BEE>NK\b hMK>:NBK>NK@iGiK:E=NNK>:NBGM>KG:MBHG:E=N.K:O:BE XI:K =>NQ HN IENLB>NKL '>F;K>L => E)K@:GBL:MBHG IHNK NG M>KKBMHBK> IE:NK:NMHKBMi
E>M>KKBMHBK>:O>E:=iJN>E>L I>G=:GM E>L IiKBH=>L :N LJN>EE>L E: GMBHG I>NM hMK> =iGHG GM :NQ =BLIHLBMBHGL => E:KMB \b K :N BK>NK k MHNM :NMK> i@:K= E>L M>KF>L => MHNM> =iNK> >M ?:BL:GM AC82;4 &>L K:MB?B<:MBHGL ?HKF>EE>L => E: IKiL>GM> GMBHG L>KHGM ENB>GK>@BLMKi>L
&>F:GN>E=NMK:O:BEE>NK\b BGM>KG:MBHG:E> =N .K:O:BE =HGM E: K:MB?B<:MBHG :NK: iMi >GK>@BLMKi> I:K E> BK>NK@iGiK:E
EE> >GMK>K: >G OB@N>NK =HNS> FHBL :IKfL JN> E>L K:MB?B<:MBHGL => =>NQquotesdbs_dbs42.pdfusesText_42
MK:O:BE:N-iGi@:E\b:<<>LLB;E>kMHNL
&: O>KLBHG iE>A834A827 '""()'"$(
,>IKiL>GM:GM,iLB=>GM =>E: HG=:MBHG KB>=KBKM:N-iGi@:E0(.*,)*)-
:NMK:O:BE #0&>*:GG>Q>L
.#.,#GHNO>:NBLIHLBMBHGL@iGiK:E>L .#.,##N4 44
I:KE>-iGi@:E
HGO>GMBHGG`LNKE>MK:O:BE=>GNBM?>FF>L\b
HGO>GMBHGG`
LNKEl@>FBGBFNF:@KB\b
HGO>GMBHGG`
LNKE>=KHBM=:LLH\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKE:I>BGMNK>\b
HGO>GMBHGG`
LNKE>K>IHLA>;=HF:=:BK>BG=NLMKB>\b
HGO>GMBHG G`
LNK Ei@:EBMi => MK:BM>F>GM :<GML =N MK:O:BE\b HGO>GMBHG G` LNK E>L FiMAH=>L => ?BQ:MBHG =>L L:E:BK>L FBGBF:\bHGO>GMBHGG`LNKE>MK:O:BE?HK &>F:GN>E=NMK:O:BEE>NK\b HGO>GMBHGG`LNKE>L HGO>GMBHGG`
LNKEBGLI> HGO>GMBHGG`LNKE:IKHM>\b
:<<>IMiE>L=BLIHLBMBHGL=>E:I:KMB>## HGO>GMBHGG`
LNKEi@:EBMi=>KiFNGiK:MBHG\b
HGO>GMBHGG`
LNKE>L\b
HGO>GMBHGG`
&>-iGi@:E::<<>IMiE>LI:KMB>L0#>M0### &:I:KMB>0#:<>LLi=>L:IIEBJN>K HGO>GMBHGG`
LNKE:;HEBMBHG=NMK:O:BE?HK HGO>GMBHGG`
HGO>GMBHGG`
IHKM:GMKiOBLBHG=>L:KMBL?BG:EL\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKEAR@BfG>K<>>M;NK>:NQ\b
HGO>GMBHGG`
>M=>F:E:=B>LIKH?>LLBHGG>EE>L\b M:;E>:N#FH=B?Bi>G
HGO>GMBHGG`
LNKE:IHEBMBJN>=>E>FIEHB\b
HGO>GMBHGG`
LNKE>L;K>O>ML=><:I:LIhNKL\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKEl@>FBGBFNF=:=FBLLBHGkE>FIEHB\b
HGO>GMBHGG`
LNKE>LL
HGO>GMBHGG`
LNKE>LIBK>L?HKF>L=>MK:O:BE=>L>G?:GML\b
HGO>GMBHGG`
KiOBLi>=NMK:O:BE=>GNBM?>FF>L\b
iGHGE> iGHGE:K:MB?B<:MBHG =>E:GMBHGG` HGO>GMBHGG`LNKEl@>FBGBFNFBG=NLMKB>\b
iGHGE> iGHGE> iGHG E: GMBHG >M K:MB?B<:MBHG => E: GMBHG G` HGO>GMBHGG`
LNKE>LF:E:=B>LIKH?>LLBHGG>EE>L\b
iGHGE> 4 >LM>LL>GMB>EE>IHNK:LLNK>KNG>I:BQNGBO>KL>EE>>M=NK:;E> MM>G=N JN> E: i >LM >LL>GMB>EE> F:BL G>LM I:L >M JN> <>E: E: Gi<>LLBMi IHNK E)#. => IKHFHNOHBK =>L IHEBMBJN>L LHLLHEB=>L\bE:CNLMB<>>M=>LBGLMBMNMBHGL=iFHL E>L =HF:BG>L => L: G<>\b >G I:KMBK E>FIEHB\b E: ?HKF:MBHG iL >M LHL L> K>G?HK<>GM FNMN>EE>F>GM >G ON> =BGLM:NK>K NG =iO>EHII>F>GME:K@>>M=NK:;E> MM>G=N JN> E)#. =HBM IHKM>K NG> :MM>GMBHG LIi :NQ IKH;EfF>L =>L BGM>KG:MBHG:NQ M>G=:GM k KiLHN=K> E>NKL IKH;EfF>L\b >M IKHFHNOHBK =>L IHEBMBJN>L>??B<:<>LOBL:GMkK=>L>FIEHBL
K>OhM NG> BFIHKM:G<> >M NG> LB@GB?B<:MBHG I:KMBL >G =HGG:GM :NQ =>Ki:EBL>KIE>BG>F>GME>NKIHM>GMB>EANF:BG MM>G=N JN> E)#. >LM EHK@:GBL:MBHG BGM>KG:MBHG:E> F:G=:Mi> I:K L: HGLMBMNMBHG\b :BGLB JN> EHK@:G> GM IHNK iM:;EBK E>L GHKF>L MK:O:BE\b>GM:GMJN>QIK>LLBHG=>L>LIKBGLEL BGL E)K@:GBL:MBHG :BGLB JN> => IKHFHNOHBK E>NK :IIEB<:MBHGNGBO>KL>EE> &:HG?iK>G<>BGM>KG:MBHG:E>=N.K:O:BE\b ,:II>EE> XJN>G :=AiK:GM EB;K>F>GM k E)#.\b E>GL>F;E> => L>L '>F;K>L HGM i *ABE:=>EIAB>\b >M L> LHGM >G@:@iL k MK:O:BEE>K k E: Ki:EBL:MBHG =>L H;C>GL>F;E> => E)K@:GBL:MBHG\b =:GL MHNM> E: F>LNK>=>E>NKLFHR>GL>M=>E>NKLIi =KHBML >M =H;EB@:MBHGL LIiL =:GL =>L GMBHGL K>L ?HG=:F>GM:E>L\b M:GM k EBGMiKB>NK JNk E>QMiKB>NK => E)K@:GBL:MBHG
E)K@:GBL:MBHG\b => K>LI>K\b IKHFHNOHBK >M Ki:EBL>K\b => ;HGG> ?HB >M GM k E: HGLMBMNMBHG\b E>L IKBGL KG:GM E>L =KHBML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL\bkL:OHBK &>F:GN>E=NMK:O:BEE>NK\b XE: EB;>KMi =:LLHM E: K> >??> =N =KHBM => Gi@H
XEiEBFBG:MBHG=>MHNM>?HKF>=>MK:O:BE?HK XE:;HEBMBHG>??>=NMK:O:BE=>L>G?:GML
?:BL:GM IE>BG>F>GM :II>E k L>L FHR>GL EL\b IK:MBJN>L >M ;N=@iM:BK>L\b R L K>LLHNK<>L >M E:LLBLM:G<> >QMiKB>NK>L\b :BGLB JN>G >G:GM =:NMK>L HK@:GBL:MBHGL BGM>KG:MBHG:E>L :O>< E>LJN>EE>L E)#. : iM:;EB =>L K>E:MBHGL\b >G O>KMN => E:KMB => L: HGLMBMNMBHG\bkLHNM>GBK<>L>??HKML
k IKHFHNOHBK E: K:MB?B<:MBHG >M E:IIEB<:MBHG =>L GMBHGL ?HG=:F>GM:E>L K:MB?B>K E>GL>F;E> HN <>KM:BG>L => <>L GMBHGL =:GL E>NKL >??HKML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL X>G :B=:GM L>L '>F;K>L =:GL E>NKL >??HKML IHNK BGLM:NK>K NG IKHIB<>:N=iO>EHII>F>GMi>MLH I:KMB>BGMi@K:GM>=>E:IKiL>GM>i hMK> BGOHJNi GB L>KOBK k I:K>BEE> ?BG >G HNMK>\b E:O:GM:@> IKiL>GM>iMLHGLNBOB
'>F;K>L => E)K@:GBL:MBHG >G ON> => IKHFHNOHBK E>L IKBGL >M =KHBML HG?HKFiF>GM k <>M H;C>F>GM IKHFHMBHGG>E\b <> LNBOB =>OK: >G\NOK><>LIKBGL>M=KHBML?HG=:F>GM:NQ #EG>IHNKK:L>LN;LMBMN>K:NQ Fi<:GBLF>L => iM:;EBL HN >GMK:O>K E>NK ?HGF>GM >G G<>\b E>L LBMN:MBHGL I:KMBL K>E>O:GM =>L=BML Fi<:GBLF>L G> &>L =>NQ OHE>ML => <> LNBOB\b =iKHGM :II>E :NQ IKHL >QBLM:GM>L E>LNBOB:GGN>EKG:GME>LGMBHGLGHGK:MB?Bi>LBFIEBJN>K: LBFIE>F>GM NG <>KM:BG Ki:FiG:@>F>GM =>L FH=:EBMiL :EE>L => FBL> >G \NOK>=>E:KMB \bI:K:@K:IA>>\b=>E:HGLMBMNMBHG E>K:IIHKM@EH;:E=HBM I>KF>MMK> =HIMBFBL>K E>L KiLNEM:ML =>L IKHL FBL>L >G \NOK> GMkE:HGLMBMNMBHG E> HGL>BE =:=FBGBLMK:MBHG >G
\b E>L >??HKML =iIEHRiL GM k E: &>F:GN>E=NMK:O:BEE>NK\b ?HG=:F>GM:E>L ?HG=:F>GM:NQiGNFiKiL=:GLE:i>\b=>E:HGLMBMNMBHG &>L?HKFNE:BK>L=><>LK:IIHKMLL>KHGM IENLB>NKL =>L GMBHGL ?HG=:F>GM:E>L =>L BG?HKF:MBHGL LNK MHNM>L FH=B?B<:MBHGL iO>GMN>EE>L :IIHKMi>L k E>NK Ei@BLE:MBHG >M k E>NK IK:MBJN>\b >G I:KE>HGL>BE=:=FBGBLMK:MBHG
G ON> => IKiL>GM>K NG> BGMKH=NM>??>MI:KE>HGL>BE=:=FBGBLMK:MBHG I>KF>MMK> :NQ '>F;K>L GHG K>IKiL>GMiL :N HGL>BE =:=FBGBLMK:MBHG => ENB E>NKLK:IIHKMLkEH<<:LBHG=>L>L=BL E:LLBLM:G<> :IIHKMi> I:K E)K@:GBL:MBHG >M =iM>KFBG>K =>L IKBHKBMiL IHNK E: IiKBH=> LNBO:GM>\b LHNL ?HKF> => IE:GL =:G F:MBfK> => QM>KG>LGi<>LL:BK>LkE>NKFBL>>G\NOK> &> K:IIHKM IHKM>K: k MHNK => KcE> :GGi> LNK ENG> =>L JN:MK> :GLE><:L=>L'>F;K>L M:GMJN>K:IIHKM=NBK>NK@iGiK:E
>EE>K<>K:IIHKM NG K:IIHKM =BLMBGL K:IIHKML OBLiL k E:KMB
=> LHG ,f@E>F>GM >M >G MHNM> :NMK> F:GBfK> :IIKHIKBi>
#E :II:KMB>G=K: >GLNBM> :N HGL>BE #E>LM>GM>G=NJN> &> HGL>BE =:=FBGBLMK:MBHG >M E: HG?iK>G<> =>OKHGM hMK> L:BLBL =>L >G\NOK>E>L=BLIHLBMBHGLJNBIKiGM &>F:GN>E=NMK:O:BEE>NK\b 54
k -:G K:G HGL>BE =:=FBGBLMK:MBHG =N NK>:N BGM>KG:MBHG:E =N .K:O:BE\b>MLRiM:GMKiNGB>E> CNBG \b>GL:MK>GM>>MNGBfF>L>LLBHG IKfL :OHBK =iK LHNL ?HKF> =NG> GMBHG =BO>KL>L JN>LMBHGJNBE>L>IMBfF>IHBGMkEHK=K>=NCHNK=>E:L>LLBHG HGLB=iK:GM JN> E> *Ki:F;NE> => E: HGLMBMNMBHG => E)K@:GBL:MBHG EB;>KMiLRG=B<:E>Y
IKH@KfLLHNM>GNY
HGLB=iK:GM JN> E: HG?iK>G<> BGM>KG:MBHG:E> =N .K:O:BE\b k L: MK>GMBfF> Ki@E>F>GM:MBHGBGM>KG:MBHG:E>
HGLB=iK:GM JN> ELL>F;Ei> @iGiK:E> =>L (:MBHGL /GB>L\b k L: =>NQBfF> LNBO:GM>L
E> =KHBM\b L:GL :NMHKBL:MBHG IKi:E:;E>\b => K =>L HK@:GBL:MBHGL => E>NK K:NQLM:MNML=><>L=>KGBfK>L AC82;4
&>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM =iE:;HK>K E>NKL LM:MNML >M Kf@E>F>GML :=FBGBLMK:MB?L\b =iEBK> EB;K>F>GM E>NKL K>IKiL>GM:GML\b =HK@:GBL>K E>NK @>LMBHG >M E>NK :M => ?HKFNE>K E>NK IKH@K:FF>=: AC82;4 &>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM => &>F:GN>E=NMK:O:BEE>NK\b AC82;4 &: E: I>KLHGG:EBMi CNKB=BJN> I:K E>L HK@:GBL:MBHGL => =BLIHLBMBHGL=>L:KMBL\b>MLLNL AC82;4 :GL E>Q>K =>L =KHBML JNB E>NK LHGM K>GM> Ei@:EBMi
AC82;4 &: F>LNK> =:GL E:JN>EE> E>L @:K:GMB>L IKiON>L I:K E: IKiL>GM> E:Ei@BLE:MBHGG:MBHG:E>
=>E:KMB >QBLM:GM JNB :<GM :NQ F>F;K>L =>L ?HK<>L :KFi>L >M => E: IHEB<> =>L @:K:GMB>LIKiON>LI:KE:IKiL>GM>GMBHG AC82;4
E: IKiL>GM> GMBHG >LM >G OB@N>NK L>G@:@> k IK>G=K> MHNM>L F>LNK>L EB;K>>Q>K=N=KHBMLRG=B<:E
HGLMBMNMBHG => E)K@:GBL:MBHG BGM>KG:MBHG:E> => .K:O:BE M>EE> JN>EE> : iMi BGM>KG:MBHG:E> =N .K:O:BE\b
\b k E>QL M>KKBMHBK>L OBLiL I:K E>L IENL;K>?=iE:BIHLLB;E>:IKfLL:K:MB?B<:MBHG\bNG>=i GMBHGLHB>GM:IIEBJNi>LL:GLFH=B?B<:MBHG GMBHG LHB>GM :IIEBJNi>L :O>< =>L FH=B?B<:MBHGL\b >M >G JNHB GME>L=BM>LFH=B?B<:MBHGL K:BLHGLIHNKE>LJN>EE>L>EE>>LMBG:IIEB<:;E>
=>L >??>ML B=>GMBJN>L .HNM '>F;K> IHNKK: K>GHG<>K I:K NG> GHNO>EE> =i =>L KiL>KO>L GN>L =:GL L: =iGM:KMB \b LBMN:MBHG=:GL=>LM>KKBMHBK>L=iM>KFBGiL
AC82;4
&>F:GN>E=NMK:O:BEE>NK\b hMK>:NBK>NK@iGiK:E=NNK>:NBGM>KG:MBHG:E=N.K:O:BE XI:K =>NQ HN IENLB>NKL '>F;K>L => E)K@:GBL:MBHG IHNK NG M>KKBMHBK> IE:NK:NMHKBMi
E>M>KKBMHBK>:O>E:=iJN>E>L I>G=:GM E>L IiKBH=>L :N LJN>EE>L E: GMBHG I>NM hMK> =iGHG GM :NQ =BLIHLBMBHGL => E:KMB \b K :N BK>NK k MHNM :NMK> i@:K= E>L M>KF>L => MHNM> =iNK> >M ?:BL:GM AC82;4 &>L K:MB?B<:MBHGL ?HKF>EE>L => E: IKiL>GM> GMBHG L>KHGM ENB>GK>@BLMKi>L
&>F:GN>E=NMK:O:BEE>NK\b BGM>KG:MBHG:E> =N .K:O:BE =HGM E: K:MB?B<:MBHG :NK: iMi >GK>@BLMKi> I:K E> BK>NK@iGiK:E
EE> >GMK>K: >G OB@N>NK =HNS> FHBL :IKfL JN> E>L K:MB?B<:MBHGL => =>NQquotesdbs_dbs42.pdfusesText_42
HGO>GMBHGG`
LNKEBGLI> HGO>GMBHGG`LNKE:IKHM>\b
:<<>IMiE>L=BLIHLBMBHGL=>E:I:KMB>## HGO>GMBHGG`
LNKEi@:EBMi=>KiFNGiK:MBHG\b
HGO>GMBHGG`
LNKE>L\b
HGO>GMBHGG`
&>-iGi@:E::<<>IMiE>LI:KMB>L0#>M0### &:I:KMB>0#:<>LLi=>L:IIEBJN>K HGO>GMBHGG`
LNKE:;HEBMBHG=NMK:O:BE?HK HGO>GMBHGG`
HGO>GMBHGG`
IHKM:GMKiOBLBHG=>L:KMBL?BG:EL\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKEAR@BfG>K<>>M;NK>:NQ\b
HGO>GMBHGG`
>M=>F:E:=B>LIKH?>LLBHGG>EE>L\b M:;E>:N#FH=B?Bi>G
HGO>GMBHGG`
LNKE:IHEBMBJN>=>E>FIEHB\b
HGO>GMBHGG`
LNKE>L;K>O>ML=><:I:LIhNKL\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKEl@>FBGBFNF=:=FBLLBHGkE>FIEHB\b
HGO>GMBHGG`
LNKE>LL
HGO>GMBHGG`
LNKE>LIBK>L?HKF>L=>MK:O:BE=>L>G?:GML\b
HGO>GMBHGG`
KiOBLi>=NMK:O:BE=>GNBM?>FF>L\b
iGHGE> iGHGE:K:MB?B<:MBHG =>E:GMBHGG` HGO>GMBHGG`LNKEl@>FBGBFNFBG=NLMKB>\b
iGHGE> iGHGE> iGHG E: GMBHG >M K:MB?B<:MBHG => E: GMBHG G` HGO>GMBHGG`
LNKE>LF:E:=B>LIKH?>LLBHGG>EE>L\b
iGHGE> 4 >LM>LL>GMB>EE>IHNK:LLNK>KNG>I:BQNGBO>KL>EE>>M=NK:;E> MM>G=N JN> E: i >LM >LL>GMB>EE> F:BL G>LM I:L >M JN> <>E: E: Gi<>LLBMi IHNK E)#. => IKHFHNOHBK =>L IHEBMBJN>L LHLLHEB=>L\bE:CNLMB<>>M=>LBGLMBMNMBHGL=iFHL E>L =HF:BG>L => L: G<>\b >G I:KMBK E>FIEHB\b E: ?HKF:MBHG iL >M LHL L> K>G?HK<>GM FNMN>EE>F>GM >G ON> =BGLM:NK>K NG =iO>EHII>F>GME:K@>>M=NK:;E> MM>G=N JN> E)#. =HBM IHKM>K NG> :MM>GMBHG LIi :NQ IKH;EfF>L =>L BGM>KG:MBHG:NQ M>G=:GM k KiLHN=K> E>NKL IKH;EfF>L\b >M IKHFHNOHBK =>L IHEBMBJN>L>??B<:<>LOBL:GMkK=>L>FIEHBL
K>OhM NG> BFIHKM:G<> >M NG> LB@GB?B<:MBHG I:KMBL >G =HGG:GM :NQ =>Ki:EBL>KIE>BG>F>GME>NKIHM>GMB>EANF:BG MM>G=N JN> E)#. >LM EHK@:GBL:MBHG BGM>KG:MBHG:E> F:G=:Mi> I:K L: HGLMBMNMBHG\b :BGLB JN> EHK@:G> GM IHNK iM:;EBK E>L GHKF>L MK:O:BE\b>GM:GMJN>QIK>LLBHG=>L>LIKBGLEL BGL E)K@:GBL:MBHG :BGLB JN> => IKHFHNOHBK E>NK :IIEB<:MBHGNGBO>KL>EE> &:HG?iK>G<>BGM>KG:MBHG:E>=N.K:O:BE\b ,:II>EE> XJN>G :=AiK:GM EB;K>F>GM k E)#.\b E>GL>F;E> => L>L '>F;K>L HGM i *ABE:=>EIAB>\b >M L> LHGM >G@:@iL k MK:O:BEE>K k E: Ki:EBL:MBHG =>L H;C>GL>F;E> => E)K@:GBL:MBHG\b =:GL MHNM> E: F>LNK>=>E>NKLFHR>GL>M=>E>NKLIi =KHBML >M =H;EB@:MBHGL LIiL =:GL =>L GMBHGL K>L ?HG=:F>GM:E>L\b M:GM k EBGMiKB>NK JNk E>QMiKB>NK => E)K@:GBL:MBHG
E)K@:GBL:MBHG\b => K>LI>K\b IKHFHNOHBK >M Ki:EBL>K\b => ;HGG> ?HB >M GM k E: HGLMBMNMBHG\b E>L IKBGL KG:GM E>L =KHBML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL\bkL:OHBK &>F:GN>E=NMK:O:BEE>NK\b XE: EB;>KMi =:LLHM E: K> >??> =N =KHBM => Gi@H
XEiEBFBG:MBHG=>MHNM>?HKF>=>MK:O:BE?HK XE:;HEBMBHG>??>=NMK:O:BE=>L>G?:GML
?:BL:GM IE>BG>F>GM :II>E k L>L FHR>GL EL\b IK:MBJN>L >M ;N=@iM:BK>L\b R L K>LLHNK<>L >M E:LLBLM:G<> >QMiKB>NK>L\b :BGLB JN>G >G:GM =:NMK>L HK@:GBL:MBHGL BGM>KG:MBHG:E>L :O>< E>LJN>EE>L E)#. : iM:;EB =>L K>E:MBHGL\b >G O>KMN => E:KMB => L: HGLMBMNMBHG\bkLHNM>GBK<>L>??HKML
k IKHFHNOHBK E: K:MB?B<:MBHG >M E:IIEB<:MBHG =>L GMBHGL ?HG=:F>GM:E>L K:MB?B>K E>GL>F;E> HN <>KM:BG>L => <>L GMBHGL =:GL E>NKL >??HKML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL X>G :B=:GM L>L '>F;K>L =:GL E>NKL >??HKML IHNK BGLM:NK>K NG IKHIB<>:N=iO>EHII>F>GMi>MLH I:KMB>BGMi@K:GM>=>E:IKiL>GM>i hMK> BGOHJNi GB L>KOBK k I:K>BEE> ?BG >G HNMK>\b E:O:GM:@> IKiL>GM>iMLHGLNBOB
'>F;K>L => E)K@:GBL:MBHG >G ON> => IKHFHNOHBK E>L IKBGL >M =KHBML HG?HKFiF>GM k <>M H;C>F>GM IKHFHMBHGG>E\b <> LNBOB =>OK: >G\NOK><>LIKBGL>M=KHBML?HG=:F>GM:NQ #EG>IHNKK:L>LN;LMBMN>K:NQ Fi<:GBLF>L => iM:;EBL HN >GMK:O>K E>NK ?HGF>GM >G G<>\b E>L LBMN:MBHGL I:KMBL K>E>O:GM =>L=BML Fi<:GBLF>L G> &>L =>NQ OHE>ML => <> LNBOB\b =iKHGM :II>E :NQ IKHL >QBLM:GM>L E>LNBOB:GGN>EKG:GME>LGMBHGLGHGK:MB?Bi>LBFIEBJN>K: LBFIE>F>GM NG <>KM:BG Ki:FiG:@>F>GM =>L FH=:EBMiL :EE>L => FBL> >G \NOK>=>E:KMB \bI:K:@K:IA>>\b=>E:HGLMBMNMBHG E>K:IIHKM@EH;:E=HBM I>KF>MMK> =HIMBFBL>K E>L KiLNEM:ML =>L IKHL FBL>L >G \NOK> GMkE:HGLMBMNMBHG E> HGL>BE =:=FBGBLMK:MBHG >G
\b E>L >??HKML =iIEHRiL GM k E: &>F:GN>E=NMK:O:BEE>NK\b ?HG=:F>GM:E>L ?HG=:F>GM:NQiGNFiKiL=:GLE:i>\b=>E:HGLMBMNMBHG &>L?HKFNE:BK>L=><>LK:IIHKMLL>KHGM IENLB>NKL =>L GMBHGL ?HG=:F>GM:E>L =>L BG?HKF:MBHGL LNK MHNM>L FH=B?B<:MBHGL iO>GMN>EE>L :IIHKMi>L k E>NK Ei@BLE:MBHG >M k E>NK IK:MBJN>\b >G I:KE>HGL>BE=:=FBGBLMK:MBHG
G ON> => IKiL>GM>K NG> BGMKH=NM>??>MI:KE>HGL>BE=:=FBGBLMK:MBHG I>KF>MMK> :NQ '>F;K>L GHG K>IKiL>GMiL :N HGL>BE =:=FBGBLMK:MBHG => ENB E>NKLK:IIHKMLkEH<<:LBHG=>L>L=BL E:LLBLM:G<> :IIHKMi> I:K E)K@:GBL:MBHG >M =iM>KFBG>K =>L IKBHKBMiL IHNK E: IiKBH=> LNBO:GM>\b LHNL ?HKF> => IE:GL =:G F:MBfK> => QM>KG>LGi<>LL:BK>LkE>NKFBL>>G\NOK> &> K:IIHKM IHKM>K: k MHNK => KcE> :GGi> LNK ENG> =>L JN:MK> :GLE><:L=>L'>F;K>L M:GMJN>K:IIHKM=NBK>NK@iGiK:E
>EE>K<>K:IIHKM NG K:IIHKM =BLMBGL K:IIHKML OBLiL k E:KMB
=> LHG ,f@E>F>GM >M >G MHNM> :NMK> F:GBfK> :IIKHIKBi>
#E :II:KMB>G=K: >GLNBM> :N HGL>BE #E>LM>GM>G=NJN> &> HGL>BE =:=FBGBLMK:MBHG >M E: HG?iK>G<> =>OKHGM hMK> L:BLBL =>L >G\NOK>E>L=BLIHLBMBHGLJNBIKiGM &>F:GN>E=NMK:O:BEE>NK\b 54
k -:G K:G HGL>BE =:=FBGBLMK:MBHG =N NK>:N BGM>KG:MBHG:E =N .K:O:BE\b>MLRiM:GMKiNGB>E> CNBG \b>GL:MK>GM>>MNGBfF>L>LLBHG IKfL :OHBK =iK LHNL ?HKF> =NG> GMBHG =BO>KL>L JN>LMBHGJNBE>L>IMBfF>IHBGMkEHK=K>=NCHNK=>E:L>LLBHG HGLB=iK:GM JN> E> *Ki:F;NE> => E: HGLMBMNMBHG => E)K@:GBL:MBHG EB;>KMiLRG=B<:E>Y
IKH@KfLLHNM>GNY
HGLB=iK:GM JN> E: HG?iK>G<> BGM>KG:MBHG:E> =N .K:O:BE\b k L: MK>GMBfF> Ki@E>F>GM:MBHGBGM>KG:MBHG:E>
HGLB=iK:GM JN> ELL>F;Ei> @iGiK:E> =>L (:MBHGL /GB>L\b k L: =>NQBfF> LNBO:GM>L
E> =KHBM\b L:GL :NMHKBL:MBHG IKi:E:;E>\b => K =>L HK@:GBL:MBHGL => E>NK K:NQLM:MNML=><>L=>KGBfK>L AC82;4
&>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM =iE:;HK>K E>NKL LM:MNML >M Kf@E>F>GML :=FBGBLMK:MB?L\b =iEBK> EB;K>F>GM E>NKL K>IKiL>GM:GML\b =HK@:GBL>K E>NK @>LMBHG >M E>NK :M => ?HKFNE>K E>NK IKH@K:FF>=: AC82;4 &>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM => &>F:GN>E=NMK:O:BEE>NK\b AC82;4 &: E: I>KLHGG:EBMi CNKB=BJN> I:K E>L HK@:GBL:MBHGL => =BLIHLBMBHGL=>L:KMBL\b>MLLNL AC82;4 :GL E>Q>K =>L =KHBML JNB E>NK LHGM K>GM> Ei@:EBMi
AC82;4 &: F>LNK> =:GL E:JN>EE> E>L @:K:GMB>L IKiON>L I:K E: IKiL>GM> E:Ei@BLE:MBHGG:MBHG:E>
=>E:KMB >QBLM:GM JNB :<GM :NQ F>F;K>L =>L ?HK<>L :KFi>L >M => E: IHEB<> =>L @:K:GMB>LIKiON>LI:KE:IKiL>GM>GMBHG AC82;4
E: IKiL>GM> GMBHG >LM >G OB@N>NK L>G@:@> k IK>G=K> MHNM>L F>LNK>L EB;K>>Q>K=N=KHBMLRG=B<:E
HGLMBMNMBHG => E)K@:GBL:MBHG BGM>KG:MBHG:E> => .K:O:BE M>EE> JN>EE> : iMi BGM>KG:MBHG:E> =N .K:O:BE\b
\b k E>QL M>KKBMHBK>L OBLiL I:K E>L IENL;K>?=iE:BIHLLB;E>:IKfLL:K:MB?B<:MBHG\bNG>=i GMBHGLHB>GM:IIEBJNi>LL:GLFH=B?B<:MBHG GMBHG LHB>GM :IIEBJNi>L :O>< =>L FH=B?B<:MBHGL\b >M >G JNHB GME>L=BM>LFH=B?B<:MBHGL K:BLHGLIHNKE>LJN>EE>L>EE>>LMBG:IIEB<:;E>
=>L >??>ML B=>GMBJN>L .HNM '>F;K> IHNKK: K>GHG<>K I:K NG> GHNO>EE> =i =>L KiL>KO>L GN>L =:GL L: =iGM:KMB \b LBMN:MBHG=:GL=>LM>KKBMHBK>L=iM>KFBGiL
AC82;4
&>F:GN>E=NMK:O:BEE>NK\b hMK>:NBK>NK@iGiK:E=NNK>:NBGM>KG:MBHG:E=N.K:O:BE XI:K =>NQ HN IENLB>NKL '>F;K>L => E)K@:GBL:MBHG IHNK NG M>KKBMHBK> IE:NK:NMHKBMi
E>M>KKBMHBK>:O>E:=iJN>E>L I>G=:GM E>L IiKBH=>L :N LJN>EE>L E: GMBHG I>NM hMK> =iGHG GM :NQ =BLIHLBMBHGL => E:KMB \b K :N BK>NK k MHNM :NMK> i@:K= E>L M>KF>L => MHNM> =iNK> >M ?:BL:GM AC82;4 &>L K:MB?B<:MBHGL ?HKF>EE>L => E: IKiL>GM> GMBHG L>KHGM ENB>GK>@BLMKi>L
&>F:GN>E=NMK:O:BEE>NK\b BGM>KG:MBHG:E> =N .K:O:BE =HGM E: K:MB?B<:MBHG :NK: iMi >GK>@BLMKi> I:K E> BK>NK@iGiK:E
EE> >GMK>K: >G OB@N>NK =HNS> FHBL :IKfL JN> E>L K:MB?B<:MBHGL => =>NQquotesdbs_dbs42.pdfusesText_42
HGO>GMBHGG`LNKE:IKHM>\b
:<<>IMiE>L=BLIHLBMBHGL=>E:I:KMB>## HGO>GMBHGG`
LNKEi@:EBMi=>KiFNGiK:MBHG\b
HGO>GMBHGG`
LNKE>L\b
HGO>GMBHGG`
&>-iGi@:E::<<>IMiE>LI:KMB>L0#>M0### &:I:KMB>0#:<>LLi=>L:IIEBJN>KHGO>GMBHGG`
LNKE:;HEBMBHG=NMK:O:BE?HK HGO>GMBHGG`
HGO>GMBHGG`
IHKM:GMKiOBLBHG=>L:KMBL?BG:EL\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKEAR@BfG>K<>>M;NK>:NQ\b
HGO>GMBHGG`
>M=>F:E:=B>LIKH?>LLBHGG>EE>L\b M:;E>:N#FH=B?Bi>G
HGO>GMBHGG`
LNKE:IHEBMBJN>=>E>FIEHB\b
HGO>GMBHGG`
LNKE>L;K>O>ML=><:I:LIhNKL\b
HGO>GMBHGG`
HGO>GMBHGG`
LNKEl@>FBGBFNF=:=FBLLBHGkE>FIEHB\b
HGO>GMBHGG`
LNKE>LL
HGO>GMBHGG`
LNKE>LIBK>L?HKF>L=>MK:O:BE=>L>G?:GML\b
HGO>GMBHGG`
KiOBLi>=NMK:O:BE=>GNBM?>FF>L\b
iGHGE> iGHGE:K:MB?B<:MBHG =>E:GMBHGG` HGO>GMBHGG`LNKEl@>FBGBFNFBG=NLMKB>\b
iGHGE> iGHGE> iGHG E: GMBHG >M K:MB?B<:MBHG => E: GMBHG G` HGO>GMBHGG`
LNKE>LF:E:=B>LIKH?>LLBHGG>EE>L\b
iGHGE> 4 >LM>LL>GMB>EE>IHNK:LLNK>KNG>I:BQNGBO>KL>EE>>M=NK:;E> MM>G=N JN> E: i >LM >LL>GMB>EE> F:BL G>LM I:L >M JN> <>E: E: Gi<>LLBMi IHNK E)#. => IKHFHNOHBK =>L IHEBMBJN>L LHLLHEB=>L\bE:CNLMB<>>M=>LBGLMBMNMBHGL=iFHL E>L =HF:BG>L => L: G<>\b >G I:KMBK E>FIEHB\b E: ?HKF:MBHG iL >M LHL L> K>G?HK<>GM FNMN>EE>F>GM >G ON> =BGLM:NK>K NG =iO>EHII>F>GME:K@>>M=NK:;E> MM>G=N JN> E)#. =HBM IHKM>K NG> :MM>GMBHG LIi :NQ IKH;EfF>L =>L BGM>KG:MBHG:NQ M>G=:GM k KiLHN=K> E>NKL IKH;EfF>L\b >M IKHFHNOHBK =>L IHEBMBJN>L>??B<:<>LOBL:GMkK=>L>FIEHBL
K>OhM NG> BFIHKM:G<> >M NG> LB@GB?B<:MBHG I:KMBL >G =HGG:GM :NQ =>Ki:EBL>KIE>BG>F>GME>NKIHM>GMB>EANF:BG MM>G=N JN> E)#. >LM EHK@:GBL:MBHG BGM>KG:MBHG:E> F:G=:Mi> I:K L: HGLMBMNMBHG\b :BGLB JN> EHK@:G> GM IHNK iM:;EBK E>L GHKF>L MK:O:BE\b>GM:GMJN>QIK>LLBHG=>L>LIKBGLEL BGL E)K@:GBL:MBHG :BGLB JN> => IKHFHNOHBK E>NK :IIEB<:MBHGNGBO>KL>EE> &:HG?iK>G<>BGM>KG:MBHG:E>=N.K:O:BE\b ,:II>EE> XJN>G :=AiK:GM EB;K>F>GM k E)#.\b E>GL>F;E> => L>L '>F;K>L HGM i *ABE:=>EIAB>\b >M L> LHGM >G@:@iL k MK:O:BEE>K k E: Ki:EBL:MBHG =>L H;C>GL>F;E> => E)K@:GBL:MBHG\b =:GL MHNM> E: F>LNK>=>E>NKLFHR>GL>M=>E>NKLIi =KHBML >M =H;EB@:MBHGL LIiL =:GL =>L GMBHGL K>L ?HG=:F>GM:E>L\b M:GM k EBGMiKB>NK JNk E>QMiKB>NK => E)K@:GBL:MBHG
E)K@:GBL:MBHG\b => K>LI>K\b IKHFHNOHBK >M Ki:EBL>K\b => ;HGG> ?HB >M GM k E: HGLMBMNMBHG\b E>L IKBGL KG:GM E>L =KHBML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL\bkL:OHBK &>F:GN>E=NMK:O:BEE>NK\b XE: EB;>KMi =:LLHM E: K> >??> =N =KHBM => Gi@H
XEiEBFBG:MBHG=>MHNM>?HKF>=>MK:O:BE?HK XE:;HEBMBHG>??>=NMK:O:BE=>L>G?:GML
?:BL:GM IE>BG>F>GM :II>E k L>L FHR>GL EL\b IK:MBJN>L >M ;N=@iM:BK>L\b R L K>LLHNK<>L >M E:LLBLM:G<> >QMiKB>NK>L\b :BGLB JN>G >G:GM =:NMK>L HK@:GBL:MBHGL BGM>KG:MBHG:E>L :O>< E>LJN>EE>L E)#. : iM:;EB =>L K>E:MBHGL\b >G O>KMN => E:KMB => L: HGLMBMNMBHG\bkLHNM>GBK<>L>??HKML
k IKHFHNOHBK E: K:MB?B<:MBHG >M E:IIEB<:MBHG =>L GMBHGL ?HG=:F>GM:E>L K:MB?B>K E>GL>F;E> HN <>KM:BG>L => <>L GMBHGL =:GL E>NKL >??HKML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL X>G :B=:GM L>L '>F;K>L =:GL E>NKL >??HKML IHNK BGLM:NK>K NG IKHIB<>:N=iO>EHII>F>GMi>MLH I:KMB>BGMi@K:GM>=>E:IKiL>GM>i hMK> BGOHJNi GB L>KOBK k I:K>BEE> ?BG >G HNMK>\b E:O:GM:@> IKiL>GM>iMLHGLNBOB
'>F;K>L => E)K@:GBL:MBHG >G ON> => IKHFHNOHBK E>L IKBGL >M =KHBML HG?HKFiF>GM k <>M H;C>F>GM IKHFHMBHGG>E\b <> LNBOB =>OK: >G\NOK><>LIKBGL>M=KHBML?HG=:F>GM:NQ #EG>IHNKK:L>LN;LMBMN>K:NQ Fi<:GBLF>L => iM:;EBL HN >GMK:O>K E>NK ?HGF>GM >G G<>\b E>L LBMN:MBHGL I:KMBL K>E>O:GM =>L=BML Fi<:GBLF>L G> &>L =>NQ OHE>ML => <> LNBOB\b =iKHGM :II>E :NQ IKHL >QBLM:GM>L E>LNBOB:GGN>EKG:GME>LGMBHGLGHGK:MB?Bi>LBFIEBJN>K: LBFIE>F>GM NG <>KM:BG Ki:FiG:@>F>GM =>L FH=:EBMiL :EE>L => FBL> >G \NOK>=>E:KMB \bI:K:@K:IA>>\b=>E:HGLMBMNMBHG E>K:IIHKM@EH;:E=HBM I>KF>MMK> =HIMBFBL>K E>L KiLNEM:ML =>L IKHL FBL>L >G \NOK> GMkE:HGLMBMNMBHG E> HGL>BE =:=FBGBLMK:MBHG >G
\b E>L >??HKML =iIEHRiL GM k E: &>F:GN>E=NMK:O:BEE>NK\b ?HG=:F>GM:E>L ?HG=:F>GM:NQiGNFiKiL=:GLE:i>\b=>E:HGLMBMNMBHG &>L?HKFNE:BK>L=><>LK:IIHKMLL>KHGM IENLB>NKL =>L GMBHGL ?HG=:F>GM:E>L =>L BG?HKF:MBHGL LNK MHNM>L FH=B?B<:MBHGL iO>GMN>EE>L :IIHKMi>L k E>NK Ei@BLE:MBHG >M k E>NK IK:MBJN>\b >G I:KE>HGL>BE=:=FBGBLMK:MBHG
G ON> => IKiL>GM>K NG> BGMKH=NM>??>MI:KE>HGL>BE=:=FBGBLMK:MBHG I>KF>MMK> :NQ '>F;K>L GHG K>IKiL>GMiL :N HGL>BE =:=FBGBLMK:MBHG => ENB E>NKLK:IIHKMLkEH<<:LBHG=>L>L=BL E:LLBLM:G<> :IIHKMi> I:K E)K@:GBL:MBHG >M =iM>KFBG>K =>L IKBHKBMiL IHNK E: IiKBH=> LNBO:GM>\b LHNL ?HKF> => IE:GL =:G F:MBfK> => QM>KG>LGi<>LL:BK>LkE>NKFBL>>G\NOK> &> K:IIHKM IHKM>K: k MHNK => KcE> :GGi> LNK ENG> =>L JN:MK> :GLE><:L=>L'>F;K>L M:GMJN>K:IIHKM=NBK>NK@iGiK:E
>EE>K<>K:IIHKM NG K:IIHKM =BLMBGL K:IIHKML OBLiL k E:KMB
=> LHG ,f@E>F>GM >M >G MHNM> :NMK> F:GBfK> :IIKHIKBi>
#E :II:KMB>G=K: >GLNBM> :N HGL>BE #E>LM>GM>G=NJN> &> HGL>BE =:=FBGBLMK:MBHG >M E: HG?iK>G<> =>OKHGM hMK> L:BLBL =>L >G\NOK>E>L=BLIHLBMBHGLJNBIKiGM &>F:GN>E=NMK:O:BEE>NK\b 54
k -:G K:G HGL>BE =:=FBGBLMK:MBHG =N NK>:N BGM>KG:MBHG:E =N .K:O:BE\b>MLRiM:GMKiNGB>E> CNBG \b>GL:MK>GM>>MNGBfF>L>LLBHG IKfL :OHBK =iK LHNL ?HKF> =NG> GMBHG =BO>KL>L JN>LMBHGJNBE>L>IMBfF>IHBGMkEHK=K>=NCHNK=>E:L>LLBHG HGLB=iK:GM JN> E> *Ki:F;NE> => E: HGLMBMNMBHG => E)K@:GBL:MBHG EB;>KMiLRG=B<:E>Y
IKH@KfLLHNM>GNY
HGLB=iK:GM JN> E: HG?iK>G<> BGM>KG:MBHG:E> =N .K:O:BE\b k L: MK>GMBfF> Ki@E>F>GM:MBHGBGM>KG:MBHG:E>
HGLB=iK:GM JN> ELL>F;Ei> @iGiK:E> =>L (:MBHGL /GB>L\b k L: =>NQBfF> LNBO:GM>L
E> =KHBM\b L:GL :NMHKBL:MBHG IKi:E:;E>\b => K =>L HK@:GBL:MBHGL => E>NK K:NQLM:MNML=><>L=>KGBfK>L AC82;4
&>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM =iE:;HK>K E>NKL LM:MNML >M Kf@E>F>GML :=FBGBLMK:MB?L\b =iEBK> EB;K>F>GM E>NKL K>IKiL>GM:GML\b =HK@:GBL>K E>NK @>LMBHG >M E>NK :M => ?HKFNE>K E>NK IKH@K:FF>=: AC82;4 &>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM => &>F:GN>E=NMK:O:BEE>NK\b AC82;4 &: E: I>KLHGG:EBMi CNKB=BJN> I:K E>L HK@:GBL:MBHGL => =BLIHLBMBHGL=>L:KMBL\b>MLLNL AC82;4 :GL E>Q>K =>L =KHBML JNB E>NK LHGM K>GM> Ei@:EBMi
AC82;4 &: F>LNK> =:GL E:JN>EE> E>L @:K:GMB>L IKiON>L I:K E: IKiL>GM> E:Ei@BLE:MBHGG:MBHG:E>
=>E:KMB >QBLM:GM JNB :<GM :NQ F>F;K>L =>L ?HK<>L :KFi>L >M => E: IHEB<> =>L @:K:GMB>LIKiON>LI:KE:IKiL>GM>GMBHG AC82;4
E: IKiL>GM> GMBHG >LM >G OB@N>NK L>G@:@> k IK>G=K> MHNM>L F>LNK>L EB;K>>Q>K=N=KHBMLRG=B<:E
HGLMBMNMBHG => E)K@:GBL:MBHG BGM>KG:MBHG:E> => .K:O:BE M>EE> JN>EE> : iMi BGM>KG:MBHG:E> =N .K:O:BE\b
\b k E>QL M>KKBMHBK>L OBLiL I:K E>L IENL;K>?=iE:BIHLLB;E>:IKfLL:K:MB?B<:MBHG\bNG>=i GMBHGLHB>GM:IIEBJNi>LL:GLFH=B?B<:MBHG GMBHG LHB>GM :IIEBJNi>L :O>< =>L FH=B?B<:MBHGL\b >M >G JNHB GME>L=BM>LFH=B?B<:MBHGL K:BLHGLIHNKE>LJN>EE>L>EE>>LMBG:IIEB<:;E>
=>L >??>ML B=>GMBJN>L .HNM '>F;K> IHNKK: K>GHG<>K I:K NG> GHNO>EE> =i =>L KiL>KO>L GN>L =:GL L: =iGM:KMB \b LBMN:MBHG=:GL=>LM>KKBMHBK>L=iM>KFBGiL
AC82;4
&>F:GN>E=NMK:O:BEE>NK\b hMK>:NBK>NK@iGiK:E=NNK>:NBGM>KG:MBHG:E=N.K:O:BE XI:K =>NQ HN IENLB>NKL '>F;K>L => E)K@:GBL:MBHG IHNK NG M>KKBMHBK> IE:NK:NMHKBMi
E>M>KKBMHBK>:O>E:=iJN>E>L I>G=:GM E>L IiKBH=>L :N LJN>EE>L E: GMBHG I>NM hMK> =iGHG GM :NQ =BLIHLBMBHGL => E:KMB \b K :N BK>NK k MHNM :NMK> i@:K= E>L M>KF>L => MHNM> =iNK> >M ?:BL:GM AC82;4 &>L K:MB?B<:MBHGL ?HKF>EE>L => E: IKiL>GM> GMBHG L>KHGM ENB>GK>@BLMKi>L
&>F:GN>E=NMK:O:BEE>NK\b BGM>KG:MBHG:E> =N .K:O:BE =HGM E: K:MB?B<:MBHG :NK: iMi >GK>@BLMKi> I:K E> BK>NK@iGiK:E
EE> >GMK>K: >G OB@N>NK =HNS> FHBL :IKfL JN> E>L K:MB?B<:MBHGL => =>NQquotesdbs_dbs42.pdfusesText_42
HGO>GMBHGG`LNKEl@>FBGBFNFBG=NLMKB>\b
iGHGE> iGHGE> iGHGHGO>GMBHGG`
LNKE>LF:E:=B>LIKH?>LLBHGG>EE>L\b
iGHGE> 4 >LM>LL>GMB>EE>IHNK:LLNK>KNG>I:BQNGBO>KL>EE>>M=NK:;E> MM>G=N JN> E:IHEBMBJN>L>??B<:<>LOBL:GMkK=>L>FIEHBL
K>OhM NG> BFIHKM:G<> >M NG> LB@GB?B<:MBHG I:KMBF>LNK>=>E>NKLFHR>GL>M=>E>NKLIi =KHBML >M =H;EB@:MBHGL LIiL =:GL =>L GMBHGL K>L ?HG=:F>GM:E>L\b M:GM k EBGMiKB>NK JNk E>QMiKB>NK => E)K@:GBL:MBHG
E)K@:GBL:MBHG\b => K>LI>K\b IKHFHNOHBK >M Ki:EBL>K\b => ;HGG> ?HB >M GM k E: HGLMBMNMBHG\b E>L IKBGL KG:GM E>L =KHBML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL\bkL:OHBK &>F:GN>E=NMK:O:BEE>NK\b XE: EB;>KMi =:LLHM E: K> >??> =N =KHBM => Gi@H
XEiEBFBG:MBHG=>MHNM>?HKF>=>MK:O:BE?HK XE:;HEBMBHG>??>=NMK:O:BE=>L>G?:GML
?:BL:GM IE>BG>F>GM :II>E k L>L FHR>GL EL\b IK:MBJN>L >M ;N=@iM:BK>L\b R L K>LLHNK<>L >M E:LLBLM:G<> >QMiKB>NK>L\b :BGLB JN>G >G:GM =:NMK>L HK@:GBL:MBHGL BGM>KG:MBHG:E>L :O>< E>LJN>EE>L E)#. : iM:;EB =>L K>E:MBHGL\b >G O>KMN => E:KMB => L: HGLMBMNMBHG\bkLHNM>GBK<>L>??HKML
k IKHFHNOHBK E: K:MB?B<:MBHG >M E:IIEB<:MBHG =>L GMBHGL ?HG=:F>GM:E>L K:MB?B>K E>GL>F;E> HN <>KM:BG>L => <>L GMBHGL =:GL E>NKL >??HKML ?HG=:F>GM:NQJNBLHGMEH;C>M=>L=BM>LGMBHGL X>G :B=:GM L>L '>F;K>L =:GL E>NKL >??HKML IHNK BGLM:NK>K NG IKHIB<>:N=iO>EHII>F>GMi>MLH I:KMB>BGMi@K:GM>=>E:IKiL>GM>i hMK> BGOHJNi GB L>KOBK k I:K>BEE> ?BG >G HNMK>\b E:O:GM:@> IKiL>GM>iMLHGLNBOB
'>F;K>L => E)K@:GBL:MBHG >G ON> => IKHFHNOHBK E>L IKBGL >M =KHBML HG?HKFiF>GM k <>M H;C>F>GM IKHFHMBHGG>E\b <> LNBOB =>OK: >G\NOK><>LIKBGL>M=KHBML?HG=:F>GM:NQ #EG>IHNKK:L>LN;LMBMN>K:NQ Fi<:GBLF>L => iM:;EBL HN >GMK:O>K E>NK ?HGF>GM >G G<>\b E>L LBMN:MBHGL I:KMBL K>E>O:GM =>L=BML Fi<:GBLF>L G> &>L =>NQ OHE>ML => <> LNBOB\b =iKHGM :II>E :NQ IKHL >QBLM:GM>L E>LNBOB:GGN>EKG:GME>LGMBHGLGHGK:MB?Bi>LBFIEBJN>K: LBFIE>F>GM NG <>KM:BG Ki:FiG:@>F>GM =>L FH=:EBMiL :EE>L => FBL> >G \NOK>=>E:KMB \bI:K:@K:IA>>\b=>E:HGLMBMNMBHG E>K:IIHKM@EH;:E=HBM I>KF>MMK> =HIMBFBL>K E>L KiLNEM:ML =>L IKHL FBL>L >G \NOK> GMkE:HGLMBMNMBHG E> HGL>BE =:=FBGBLMK:MBHG >G
\b E>L >??HKML =iIEHRiL GM k E: &>F:GN>E=NMK:O:BEE>NK\b ?HG=:F>GM:E>L ?HG=:F>GM:NQiGNFiKiL=:GLE:i>\b=>E:HGLMBMNMBHG &>L?HKFNE:BK>L=><>LK:IIHKMLL>KHGM IENLB>NKL =>L GMBHGL ?HG=:F>GM:E>L =>L BG?HKF:MBHGL LNK MHNM>L FH=B?B<:MBHGL iO>GMN>EE>L :IIHKMi>L k E>NK Ei@BLE:MBHG >M k E>NK IK:MBJN>\b >G I:KE>HGL>BE=:=FBGBLMK:MBHG
G ON> => IKiL>GM>K NG> BGMKH=NM>??>MI:KE>HGL>BE=:=FBGBLMK:MBHG I>KF>MMK> :NQ '>F;K>L GHG K>IKiL>GMiL :N HGL>BE =:=FBGBLMK:MBHG => ENB E>NKLK:IIHKMLkEH<<:LBHG=>L>L=BL E:LLBLM:G<> :IIHKMi> I:K E)K@:GBL:MBHG >M =iM>KFBG>K =>L IKBHKBMiL IHNK E: IiKBH=> LNBO:GM>\b LHNL ?HKF> => IE:GL =:G F:MBfK> => QM>KG>LGi<>LL:BK>LkE>NKFBL>>G\NOK> &> K:IIHKM IHKM>K: k MHNK => KcE> :GGi> LNK ENG> =>L JN:MK> :GLE><:L=>L'>F;K>L M:GMJN>K:IIHKM=NBK>NK@iGiK:E
>EE>K<>K:IIHKM NG K:IIHKM =BLMBGL K:IIHKML OBLiL k E:KMB
=> LHG ,f@E>F>GM >M >G MHNM> :NMK> F:GBfK> :IIKHIKBi>
#E :II:KMB>G=K: >GLNBM> :N HGL>BE #E>LM>GM>G=NJN> &> HGL>BE =:=FBGBLMK:MBHG >M E: HG?iK>G<> =>OKHGM hMK> L:BLBL =>L >G\NOK>E>L=BLIHLBMBHGLJNBIKiGM &>F:GN>E=NMK:O:BEE>NK\b 54
k -:G K:G HGL>BE =:=FBGBLMK:MBHG =N NK>:N BGM>KG:MBHG:E =N .K:O:BE\b>MLRiM:GMKiNGB>E> CNBG \b>GL:MK>GM>>MNGBfF>L>LLBHG IKfL :OHBK =iK LHNL ?HKF> =NG> GMBHG =BO>KL>L JN>LMBHGJNBE>L>IMBfF>IHBGMkEHK=K>=NCHNK=>E:L>LLBHG HGLB=iK:GM JN> E> *Ki:F;NE> => E: HGLMBMNMBHG => E)K@:GBL:MBHG EB;>KMiLRG=B<:E>Y
IKH@KfLLHNM>GNY
HGLB=iK:GM JN> E: HG?iK>G<> BGM>KG:MBHG:E> =N .K:O:BE\b k L: MK>GMBfF> Ki@E>F>GM:MBHGBGM>KG:MBHG:E>
HGLB=iK:GM JN> ELL>F;Ei> @iGiK:E> =>L (:MBHGL /GB>L\b k L: =>NQBfF> LNBO:GM>L
E> =KHBM\b L:GL :NMHKBL:MBHG IKi:E:;E>\b => K =>L HK@:GBL:MBHGL => E>NK K:NQLM:MNML=><>L=>KGBfK>L AC82;4
&>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM =iE:;HK>K E>NKL LM:MNML >M Kf@E>F>GML :=FBGBLMK:MB?L\b =iEBK> EB;K>F>GM E>NKL K>IKiL>GM:GML\b =HK@:GBL>K E>NK @>LMBHG >M E>NK :M => ?HKFNE>K E>NK IKH@K:FF>=: AC82;4 &>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM => &>F:GN>E=NMK:O:BEE>NK\b AC82;4 &: E: I>KLHGG:EBMi CNKB=BJN> I:K E>L HK@:GBL:MBHGL => =BLIHLBMBHGL=>L:KMBL\b>MLLNL AC82;4 :GL E>Q>K =>L =KHBML JNB E>NK LHGM K>GM> Ei@:EBMi
AC82;4 &: F>LNK> =:GL E:JN>EE> E>L @:K:GMB>L IKiON>L I:K E: IKiL>GM> E:Ei@BLE:MBHGG:MBHG:E>
=>E:KMB >QBLM:GM JNB :<GM :NQ F>F;K>L =>L ?HK<>L :KFi>L >M => E: IHEB<> =>L @:K:GMB>LIKiON>LI:KE:IKiL>GM>GMBHG AC82;4
E: IKiL>GM> GMBHG >LM >G OB@N>NK L>G@:@> k IK>G=K> MHNM>L F>LNK>L EB;K>>Q>K=N=KHBMLRG=B<:E
HGLMBMNMBHG => E)K@:GBL:MBHG BGM>KG:MBHG:E> => .K:O:BE M>EE> JN>EE> : iMi BGM>KG:MBHG:E> =N .K:O:BE\b
\b k E>QL M>KKBMHBK>L OBLiL I:K E>L IENL;K>?=iE:BIHLLB;E>:IKfLL:K:MB?B<:MBHG\bNG>=i GMBHGLHB>GM:IIEBJNi>LL:GLFH=B?B<:MBHG GMBHG LHB>GM :IIEBJNi>L :O>< =>L FH=B?B<:MBHGL\b >M >G JNHB GME>L=BM>LFH=B?B<:MBHGL K:BLHGLIHNKE>LJN>EE>L>EE>>LMBG:IIEB<:;E>
=>L >??>ML B=>GMBJN>L .HNM '>F;K> IHNKK: K>GHG<>K I:K NG> GHNO>EE> =i =>L KiL>KO>L GN>L =:GL L: =iGM:KMB \b LBMN:MBHG=:GL=>LM>KKBMHBK>L=iM>KFBGiL
AC82;4
&>F:GN>E=NMK:O:BEE>NK\b hMK>:NBK>NK@iGiK:E=NNK>:NBGM>KG:MBHG:E=N.K:O:BE XI:K =>NQ HN IENLB>NKL '>F;K>L => E)K@:GBL:MBHG IHNK NG M>KKBMHBK> IE:NK:NMHKBMi
E>M>KKBMHBK>:O>E:=iJN>E>L I>G=:GM E>L IiKBH=>L :N LJN>EE>L E: GMBHG I>NM hMK> =iGHG GM :NQ =BLIHLBMBHGL => E:KMB \b K :N BK>NK k MHNM :NMK> i@:K= E>L M>KF>L => MHNM> =iNK> >M ?:BL:GM AC82;4 &>L K:MB?B<:MBHGL ?HKF>EE>L => E: IKiL>GM> GMBHG L>KHGM ENB>GK>@BLMKi>L
&>F:GN>E=NMK:O:BEE>NK\b BGM>KG:MBHG:E> =N .K:O:BE =HGM E: K:MB?B<:MBHG :NK: iMi >GK>@BLMKi> I:K E> BK>NK@iGiK:E
EE> >GMK>K: >G OB@N>NK =HNS> FHBL :IKfL JN> E>L K:MB?B<:MBHGL => =>NQquotesdbs_dbs42.pdfusesText_42
E)K@:GBL:MBHG
E)K@:GBL:MBHG\b => K>LI>Gi@H
XEiEBFBG:MBHG=>MHNM>?HKF>=>MK:O:BE?HKXE:;HEBMBHG>??>=NMK:O:BE=>L>G?:GML
?:BL:GM IE>BG>F>GM :II>E k L>L FHR>GL HGLMBMNMBHG\bkLHNM>GBK<>L>??HKML
k IKHFHNOHBK E: K:MB?B<:MBHG >M E:IIEB<:MBHG =>LI:KMB>BGMi@K:GM>=>E:IKiL>GM>i hMK> BGOHJNi GB L>KOBK k I:K>BEE> ?BG >G HNMK>\b E:O:GM:@> IKiL>GM>iMLHGLNBOB
'>F;K>L => E)K@:GBL:MBHG >G ON> => IKHFHNOHBK E>L IKBGE> HGL>BE =:=FBGBLMK:MBHG >G
\b E>L >??HKML =iIEHRiLI:KE>HGL>BE=:=FBGBLMK:MBHG
G ON> => IKiL>GM>K NG> BGMKH=NE>NKLK:IIHKMLkEH<<:LBHG=>L>L=BL E:LLBLM:G<> :IIHKMi> I:K E)K@:GBL:MBHG >M =iM>KFBG>K =>L IKBHKBMiL IHNK E: IiKBH=> LNBO:GM>\b LHNL ?HKF> => IE:GL =:G F:MBfK> => QM>KG>LGi<>LL:BK>LkE>NKFBL>>G\NOK> &> K:IIHKM IHKM>K: k MHNK => KcE> :GGi> LNK ENG> =>L JN:MK> :GLE><:L=>L'>F;K>L M:GMJN>K:IIHKM=NBK>NK@iGiK:E
>EE>K<>K:IIHKM NG K:IIHKM =BLMBGL K:IIHKML OBLiL k E:KMB
=> LHG ,f@E>F>GM >M >G MHNM> :NMK> F:GBfK> :IIKHIKBi>
#E :II:KMB>G=K: >GLNBM> :N HGL>BE #E>LM>GM>G=NJN> &> HGL>BE =:=FBGBLMK:MBHG >M E: HG?iK>G<> =>OKHGM hMK> L:BLBL =>L >G\NOK>E>L=BLIHLBMBHGLJNBIKiGM &>F:GN>E=NMK:O:BEE>NK\b 54
k -:G K:G HGL>BE =:=FBGBLMK:MBHG =N NK>:N BGM>KG:MBHG:E =N .K:O:BE\b>MLRiM:GMKiNGB>E> CNBG \b>GL:MK>GM>>MNGBfF>L>LLBHG IKfL :OHBK =iK LHNL ?HKF> =NG> GMBHG =BO>KL>L JN>LMBHGJNBE>L>IMBfF>IHBGMkEHK=K>=NCHNK=>E:L>LLBHG HGLB=iK:GM JN> E> *Ki:F;NE> => E: HGLMBMNMBHG => E)K@:GBL:MBHG EB;>KMiLRG=B<:E>Y
IKH@KfLLHNM>GNY
HGLB=iK:GM JN> E: HG?iK>G<> BGM>KG:MBHG:E> =N .K:O:BE\b k L: MK>GMBfF> Ki@E>F>GM:MBHGBGM>KG:MBHG:E>
HGLB=iK:GM JN> ELL>F;Ei> @iGiK:E> =>L (:MBHGL /GB>L\b k L: =>NQBfF> LNBO:GM>L
E> =KHBM\b L:GL :NMHKBL:MBHG IKi:E:;E>\b => K =>L HK@:GBL:MBHGL => E>NK K:NQLM:MNML=><>L=>KGBfK>L AC82;4
&>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM =iE:;HK>K E>NKL LM:MNML >M Kf@E>F>GML :=FBGBLMK:MB?L\b =iEBK> EB;K>F>GM E>NKL K>IKiL>GM:GML\b =HK@:GBL>K E>NK @>LMBHG >M E>NK :M => ?HKFNE>K E>NK IKH@K:FF>=: AC82;4 &>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM => &>F:GN>E=NMK:O:BEE>NK\b AC82;4 &: E: I>KLHGG:EBMi CNKB=BJN> I:K E>L HK@:GBL:MBHGL => =BLIHLBMBHGL=>L:KMBL\b>MLLNL AC82;4 :GL E>Q>K =>L =KHBML JNB E>NK LHGM K>GM> Ei@:EBMi
AC82;4 &: F>LNK> =:GL E:JN>EE> E>L @:K:GMB>L IKiON>L I:K E: IKiL>GM> E:Ei@BLE:MBHGG:MBHG:E>
=>E:KMB >QBLM:GM JNB :<GM :NQ F>F;K>L =>L ?HK<>L :KFi>L >M => E: IHEB<> =>L @:K:GMB>LIKiON>LI:KE:IKiL>GM>GMBHG AC82;4
E: IKiL>GM> GMBHG >LM >G OB@N>NK L>G@:@> k IK>G=K> MHNM>L F>LNK>L EB;K>>Q>K=N=KHBMLRG=B<:E
HGLMBMNMBHG => E)K@:GBL:MBHG BGM>KG:MBHG:E> => .K:O:BE M>EE> JN>EE> : iMi BGM>KG:MBHG:E> =N .K:O:BE\b
\b k E>QL M>KKBMHBK>L OBLiL I:K E>L IENL;K>?=iE:BIHLLB;E>:IKfLL:K:MB?B<:MBHG\bNG>=i GMBHGLHB>GM:IIEBJNi>LL:GLFH=B?B<:MBHG GMBHG LHB>GM :IIEBJNi>L :O>< =>L FH=B?B<:MBHGL\b >M >G JNHB GME>L=BM>LFH=B?B<:MBHGL K:BLHGLIHNKE>LJN>EE>L>EE>>LMBG:IIEB<:;E>
=>L >??>ML B=>GMBJN>L .HNM '>F;K> IHNKK: K>GHG<>K I:K NG> GHNO>EE> =i =>L KiL>KO>L GN>L =:GL L: =iGM:KMB \b LBMN:MBHG=:GL=>LM>KKBMHBK>L=iM>KFBGiL
AC82;4
&>F:GN>E=NMK:O:BEE>NK\b hMK>:NBK>NK@iGiK:E=NNK>:NBGM>KG:MBHG:E=N.K:O:BE XI:K =>NQ HN IENLB>NKL '>F;K>L => E)K@:GBL:MBHG IHNK NG M>KKBMHBK> IE:NK:NMHKBMi
E>M>KKBMHBK>:O>E:=iJN>E>L I>G=:GM E>L IiKBH=>L :N LJN>EE>L E: GMBHG I>NM hMK> =iGHG GM :NQ =BLIHLBMBHGL => E:KMB \b K :N BK>NK k MHNM :NMK> i@:K= E>L M>KF>L => MHNM> =iNK> >M ?:BL:GM AC82;4 &>L K:MB?B<:MBHGL ?HKF>EE>L => E: IKiL>GM> GMBHG L>KHGM ENB>GK>@BLMKi>L
&>F:GN>E=NMK:O:BEE>NK\b BGM>KG:MBHG:E> =N .K:O:BE =HGM E: K:MB?B<:MBHG :NK: iMi >GK>@BLMKi> I:K E> BK>NK@iGiK:E
EE> >GMK>K: >G OB@N>NK =HNS> FHBL :IKfL JN> E>L K:MB?B<:MBHGL => =>NQquotesdbs_dbs42.pdfusesText_42
M:GMJN>K:IIHKM=NBK>NK@iGiK:E
>EE>NG K:IIHKM =BLMBGL K:IIHKML OBLiL k E:KMB
=> LHG ,f@E>F>GM >M >G MHNM> :NMK> F:GBfK> :IIKHIKBi>
#E :II:KMB>G=K: >GLNBM> :N HGL>BE #E>LM>GM>G=NJN> &> HGL>BE =:=FBGBLMK:MBHG >M E: HG?iK>G<> =>OKHGM hMK> L:BLBL =>L >G\NOK>E>L=BLIHLBMBHGLJNBIKik -:G K:G
EB;>KMiLRG=B<:E>Y
IKH@KfLLHNM>GNY
HGLB=iK:GM JN> E: HG?iK>G<> BGM>KG:MBHG:E> =N .K:O:BE\b k L: MK>GMBfF>Ki@E>F>GM:MBHGBGM>KG:MBHG:E>
HGLB=iK:GM JN> ELL>F;Ei> @iGiK:E> =>L (:MBHGL /GB>L\b k L: =>NQBfF>LNBO:GM>L
E> =KHBM\b L:GL :NMHKBL:MBHG IKi:E:;E>\b =>AC82;4
&>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM =iE:;HK>K E>NKL LM:MNML >M Kf@E>F>GML :=FBGBLMK:MB?L\b =iEBK> EB;K>F>GM E>NKL K>IKiL>GM:GML\b =HK@:GBL>K E>NK @>LMBHG >M E>NK :IKH@K:FF>=: AC82;4 &>L HK@:GBL:MBHGL => MK:O:BEE>NKL >M =>FIEHR>NKL HGM E> =KHBM => &>F:GN>E=NMK:O:BEE>NK\b AC82;4 &: E: I>KLHGG:EBMi CNKB=BJN> I:K E>L HK@:GBL:MBHGL => =BLIHLBMBHGL=>L:KMBL\b>MLLNL AC82;4 :GL E>Q>K =>L =KHBML JNB E>NK LHGM K>GM> Ei@:EBMi
AC82;4 &: F>LNK> =:GL E:JN>EE> E>L @:K:GMB>L IKiON>L I:K E: IKiL>GM> E:Ei@BLE:MBHGG:MBHG:E>
=>E:KMB >QBLM:GM JNB :<GM :NQ F>F;K>L =>L ?HK<>L :KFi>L >M => E: IHEB<> =>L @:K:GMB>LIKiON>LI:KE:IKiL>GM>GMBHG AC82;4
E: IKiL>GM> GMBHG >LM >G OB@N>NK L>G@:@> k IK>G=K> MHNM>L F>LNK>L EB;K>>Q>K=N=KHBMLRG=B<:E
HGLMBMNMBHG => E)K@:GBL:MBHG BGM>KG:MBHG:E> => .K:O:BE M>EE> JN>EE> : iMi BGM>KG:MBHG:E> =N .K:O:BE\b
\b k E>QL M>KKBMHBK>L OBLiL I:K E>L IENL;K>?=iE:BIHLLB;E>:IKfLL:K:MB?B<:MBHG\bNG>=i GMBHGLHB>GM:IIEBJNi>LL:GLFH=B?B<:MBHG GMBHG LHB>GM :IIEBJNi>L :O>< =>L FH=B?B<:MBHGL\b >M >G JNHB GME>L=BM>LFH=B?B<:MBHGL K:BLHGLIHNKE>LJN>EE>L>EE>>LMBG:IIEB<:;E>
=>L >??>ML B=>GMBJN>L .HNM '>F;K> IHNKK: K>GHG<>K I:K NG> GHNO>EE> =i =>L KiL>KO>L GN>L =:GL L: =iGM:KMB \b LBMN:MBHG=:GL=>LM>KKBMHBK>L=iM>KFBGiL
AC82;4
&>F:GN>E=NMK:O:BEE>NK\b hMK>:NBK>NK@iGiK:E=NNK>:NBGM>KG:MBHG:E=N.K:O:BE XI:K =>NQ HN IENLB>NKL '>F;K>L => E)K@:GBL:MBHG IHNK NG M>KKBMHBK> IE:NK:NMHKBMi
E>M>KKBMHBK>:O>E:=iJN>E>L I>G=:GM E>L IiKBH=>L :N LJN>EE>L E: GMBHG I>NM hMK> =iGHG GM :NQ =BLIHLBMBHGL => E:KMB \b K :N BK>NK k MHNM :NMK> i@:K= E>L M>KF>L => MHNM> =iNK> >M ?:BL:GM AC82;4 &>L K:MB?B<:MBHGL ?HKF>EE>L => E: IKiL>GM> GMBHG L>KHGM ENB>GK>@BLMKi>L
&>F:GN>E=NMK:O:BEE>NK\b BGM>KG:MBHG:E> =N .K:O:BE =HGM E: K:MB?B<:MBHG :NK: iMi >GK>@BLMKi> I:K E> BK>NK@iGiK:E
EE> >GMK>K: >G OB@N>NK =HNS> FHBL :IKfL JN> E>L K:MB?B<:MBHGL => =>NQquotesdbs_dbs42.pdfusesText_42
Ei@:EBMi
AC82;4 &: F>LNK> =:GL E:JN>EE> E>L @:K:GMB>L IKiON>L I:K E: IKiL>GM>E:Ei@BLE:MBHGG:MBHG:E>
=>E:KMBAC82;4
E: IKiL>GM>EB;K>>Q>K=N=KHBMLRG=B<:E
HGLMBMNMBHG => E)K@:GBL:MBHG BGM>KG:MBHG:E> => .K:O:BE M>EE> JN>EE> : iMiBGM>KG:MBHG:E> =N .K:O:BE\b
\b k E>QK:BLHGLIHNKE>LJN>EE>L>EE>>LMBG:IIEB<:;E>
=>L >??>ML B=>GMBJN>L .HNM '>F;K> IHNKK: K>GHG<>K I:K NG> GHNO>EE> =iLBMN:MBHG=:GL=>LM>KKBMHBK>L=iM>KFBGiL
AC82;4
&>F:GN>E=NMK:O:BEE>NK\b hMK>IE:NK:NMHKBMi
E>M>KKBMHBK>:O>ENB>GK>@BLMKi>L
&>F:GN>E=NMK:O:BEE>NK\b BGM>KG:MBHG:E> =N .K:O:BE =HGM E: K:MB?B<:MBHG :NK: iMi >GK>@BLMKi> I:K E>BK>NK@iGiK:E
EE> >GMK>K: >G OB@N>NK =HNS> FHBL :IKfL JN> E>L K:MB?B<:MBHGL => =>NQquotesdbs_dbs42.pdfusesText_42[PDF] LIEU DE LA MANIFESTATION : Village des SCIENCES et de l INNOVATION
[PDF] RAPPORT DU COMITÉ D EXPERTS SUR L AVENIR DU SYSTÈME DE RETRAITE QUÉBÉCOIS. Analyse et recommandations 18 avril 2013
[PDF] N 101 SENAT SECONDE SESSION ORDINAIRE DE 1974-1975 PROJET DE LOI ADOPTÉ PAR LE SÉNAT
[PDF] États financiers pour le RÉGIME D'ASSURANCE COLLECTIVE DES EMPLOYÉS DES FNP Au 31 mars 2008
[PDF] POLITIQUE DU COMITÉ PARITAIRE DE FORMATION ET DE PERFECTIONNEMENT DU PERSONNEL DE SOUTIEN (SCFP 1365) DE LA COMMISSION SCOLAIRE DE LA BAIE-JAMES
[PDF] Epreuve n 1 : Réglementation professionnelle et. déontologie de l expert-comptable et du commissaire aux comptes
[PDF] BSIF. Guide des participants des régimes de retraite 2016
[PDF] Séminaire de Clermont-Ferrand 13 et 14 juin 2013 Ouverture du séminaire
[PDF] COMMUNIQUER EFFICACEMENT PAR MAIL Rédiger des mails efficaces 1 jour 7 heures
[PDF] PROGRAMME DE FORMATION 2015
[PDF] CAP Assistant Technique en milieu familial et collectif Activités professionnelles Livret de suivi de l élève : Période 1:... /. Période 2 :... filety
[PDF] THEME 2 : LES STRUCTURES ET LES ORGANISATIONS
[PDF] Programmes de formation de courte durée
[PDF] Directives concernant le règlement sur la formation continue pour le personnel de l Administration cantonale