Aluminum Electrolytic Capacitors
Radial Lead Type
● Endurance : 105 ℃ 5000 h to 10000 h
● Hight ripple hight frequency (Hight voltage)
● RoHS compliant
■10 V to 63 V ■160 V to 450 V
Unit:mm
Should a safety concern arise regarding this product, please be sure to contact us immediately.
28-Feb-20
Dimensions
Shelf life
After storage for 1000 h at +105 ℃±2 ℃ with no voltage applied and then being
(With voltage treatment)
Features
Specifications
Capacitance range
Category temp. range
Dissipation factor(tan δ)
After following life test with DC voltage and +105 ℃±2 ℃ ripple current value applied
(The sum of DC and ripple peak voltage shall not exceed the rated working voltage), when the
øD
5.0
6.3
8.0
10.0
12.5
F
2.0
2.5
This Series is no longer available for
purchase in the country of Japan.
EB
series
A
type
Rated voltage range
Capacitance tolerance
±20 % (120 Hz / +20℃)
Leakage current
Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use.
22 to 470
0.85
1.00
1.20
1.25
1.30
Dissipation factor(tan δ)
–40 ℃ to +105 ℃
–25 ℃ to +105 ℃
10 V to 63 V
160 V to 450 V
2.2 μF to 3300 μF
10 μF to 330 μF
I ≦ 0.01 CV or 3 (μA) After 2 minutes
(Whichever is greater)
I ≦ 0.06 CV + 10 (μA) After 2 minutes
Please see the attached characteristics list
10k to 30k
30k to 100k
Cap.(μF)
R. volt.(V
Dissipation factor(tan δ)
(10 V to 63 V) Duration : ø5×11 to ø8×11.5 : 5000 h, ø8×15 to ø12.5×25 : 10000 h
Capacitance change
DC leakage current
(160 V to 450 V) Duration : 5000 h
Capacitance change
DC leakage current
Endurance
capacitors are restored to 20 ℃, the capacitors shall meet the limits specified bellow.
stabilized at +20 ℃, capacitors shall meet the limits specified in endurance.
Freq.(Hz)
60 120 1 k
3.5
5.0
5.0
7.5
7.5
16.0
18.0
10 k 100 k
Freq.(Hz)
120 1 k
0.90
1.00
1.10
1.15
350 to 450
0.50
0.80
0.90
1.00
1.55
1.65
ød
0.5
0.5
0.6
0.6
0.6
0.8
0.8
160 to 250
0.55
0.85
1000 to 3300
0.95
1.00
1.05
2.2 to 10
0.75
1.00
1.40
ød±0.05
Pressure relief
ø6.3
14min.
F±0.5
L*
Sleeve
3min.
øD±0.5
øD±0.5
ø8
ø10
* L 16L±1.0 (ø8x15 only L±1.5)
L 20L±2.0
Aluminum Electrolytic Capacitors (Radial Lead Type)
Endurance : 105 ℃ 5000 h / ø5×11 to ø8×11.5, 105 ℃ 10000 h / ø8×15 to ø12.5×25
*1: Ripple current (120 Hz / +105 ℃)
*2: tan δ (120 Hz / +20 ℃)
・ When requesting taped product, please put the letter "B" or "H" be tween the "( )".
 Lead wire pitch ✽B=5 mm, H=2.5 mm.
・ Please refer to the page of “Taping dimensions”.
22
100
470
470
100
220
2200
3300
1000
2200
47
5.0
11.0
5000
100
5.0
11.0
220
330
498
0.22
46
0.18
10000
200
200
200
EEUEB1H101S( )
EEUEB1J4R7S( )
EEUEB1J100S( )
EEUEB1J220S( )
200
200
200
200
200
2.5
EEUEB1A332( )
EEUEB1C102( )
EEUEB1C222( )
EEUEB1E470S( )
EEUEB1H221( )
EEUEB1H331( )
EEUEB1H471( )
EEUEB1J2R2S( )
EEUEB1J3R3S( )
8.0
15.0
10000
10.0
20.0
10000
5.0
EEUEB1A101S( )
EEUEB1A221S( )
EEUEB1A471( )
5.0
2.0
2.0
2.0
2.0
2.0
2.5
3.5
5.0
6.3
11.2
5000
8.0
15.0
8.0
11.5
5000
200
500
6.3
11.2
5000
5.0
11.0
5000
5.0
11.0
5000
5.0
11.0
5000
2000
EEUEB1J330S( )
5.0
2.5
200
2000
EEUEB1H220S( )
EEUEB1H470S( )
2.5
2.5
5.0
11.0
5000
200
1000
10.0
16.0
10000
200
500
10.0
20.0
10000
8.0
11.5
5000
200
500
5.0
2000
200
2000
EEUEB1H4R7S( )
EEUEB1H100S( )
5.0
2.5
200
2000
2000
200
2000
EEUEB1H2R2S( )
EEUEB1H3R3S( )
5.0
2.5
5.0
2.5
500
EEUEB1V330S( )
EEUEB1V221( )
EEUEB1V331( )
200
500
200
500
EEUEB1V471( )
EEUEB1V102( )
500
2.0
EEUEB1E471( )
EEUEB1E102( )
5.0
2.5
3.5
200
1000
5.0
5.0
3.5
706
0.27
0.6
5.0
255
0.22
0.6
5.0
200
1000
EEUEB1E101S( )
EEUEB1E221S( )
EEUEB1E331( )
200
1000
5.0
2.5
1000
200
500
5.0
EEUEB1A471S( )
EEUEB1A222( )
10.0
20.0
10000
12.5
25.0
10000
180
0.30
0.6
5.0
430
0.25
0.6
802
0.34
Characteristics list
Taping
✽H
Taping
Straight
leads
Min. Packaging
Q'ty (PCS)
Lead length (mm)
Lead space
Part No.
Specification
Endu-
rance
(h)
tan δ*2
Ripple
current*1
(mA rms)
Case size
(mm)
LøD Taping
✽B
Straight
Lead
dia.
(ød)
2000
1000
2000
200
5.0
5.0
2.0
2.5
3.5
2000
5.0
5.0
5.0
2.5
200
500
5.0
2.5
5.0
5.0
5.0
2000
200
2000
2.0
2.0
200
2000
200
200
1000
5.0
2.5
200
500
EEUEB1J101( )
EEUEB1J221( )
200
1000
200
1000
EEUEB1J470S( )
EEUEB1J470( )
EB series
Rated
voltage
(V)
Capacitance
(±20 %)
(μF)
Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use.
Should a safety concern arise regarding this product, please be sure to contact us immediately.
28-Feb-20
200
500
200
2000
200
2000
200
2000
200
500
200
2000
200
200
500
100
0.30
0.5
5.0
2.5
5000
5000
66
0.30
0.5
2.0
2.5
10000
5000
278
0.30
0.6
540
0.32
0.6
3.5
3.5
5.0
10000
0.6
55
0.22
0.5
95
0.22
0.5
125
0.22
0.6
5000
5000
10000
5000
0.6
5.0
1000
321
0.22
0.6
5.0
10.0
16.0
10000
12.5
20.0
10000
0.5
197
0.18
0.6
349
0.18
0.6
586
0.18
0.6
5.0
5.0
5.0
278
0.18
0.6
5.0
5.0
10000
10000
10000
10000
5.0
15
0.15
0.5
18
0.15
0.5
27
0.15
0.5
5000
5000
39
0.15
0.5
5.0
18
0.15
0.5
5.0
2.5
5000
5000
5000
99
0.15
0.6
5.0
61
0.15
0.5
5.0
47
5000
5.0
470
293
0.15
0.6
5.0
330
234
0.15
0.6
5.0
220
5.0
23
0.12
0.5
30
0.12
0.5
370
0.15
0.6
10000
5.0
2.5
20
0.12
0.5
5.0
2.5
2.2
3.3
16.5
0.12
0.5
2.0
2.0
50
0.12
0.5
5.0
2.5
40
0.12
0.5
5.0
2.5
2.5
80
0.12
0.6
5.0
3.5
3.5
94
0.12
0.6
5.0
10000
292
0.12
0.6
5.0
3.5
180
0.12
0.6
5.0
454
0.12
0.6
5.0
500
500
200
200
EEUEB1J331( )
EEUEB1J471( )
5.0
5.0
381
0.12
0.6
5.0
10000
10000
11.0
11.2
15.0
11.5
20.0
11.5
15.0
15.0
16.0
25.0
11.2
20.0
25.0
11.0
11.0
11.0
11.0
11.0
11.2
20.0
25.0
5.0
6.3
8.0
8.0
12.5
12.5
6.3
8.0
8.0
8.0
10.0
10.0
12.5
5.0
5.0
5.0
5.0
5.0
6.3
12.5
12.5
12.5
20.0
47
470
63
50
35
25
16
10
4.7
10
33
100
220
330
470
33
220
330
1000
2.2
3.3
4.7
10
22
Aluminum Electrolytic Capacitors (Radial Lead Type)
Endurance : 105 ℃ 5000 h
*1: Ripple current (100 kHz / +105 ℃)
*2: tan δ (120 Hz / +20 ℃)
・ When requesting taped product, please put the letter "B" be tween the "( )".
  Lead wire pitch ✽B=5 mm.
・ Please refer to the page of “Taping dimensions”.
EB series
Characteristics list
Rated
voltage
(V)
Capacitance
(±20 %)
(μF)
Case size
(mm) Specification Min. Packaging
Q'ty (PCS)
øD Straight
leads Taping
Straight Taping
✽B
L
Ripple
current*1
(mA rms)
tan δ*2
Endu-
rance
(h)
Lead
dia.
(ød)
Lead space
Lead length (mm)
Part No.
5.0
200
500
200
500
33
20.0
5000
0.6
5.0
5000
0.6
5.0
5.0
20.0
7.5
200
500
20.0
5000
0.8
7.5
500
5000
0.6
5.0
5.0
5.0
5.0
20.0
5000
0.6
0.15
200
100
5000
0.8
7.5
7.5
7.5
7.5
25.0
5000
0.8
0.15
0.15
7.5
100
25.0
5000
0.8
7.5
0.8
7.5
1280
0.15
EEUEB2C151S( )
0.15
31.5
5000
7.5
31.5
5000
0.8
1280
1280
EEUEB2C221
EEUEB2C221S( )
0.15
7.5
EEUEB2C331
100
250
330
31.5
5000
0.8
18.0
50
25.0
5000
0.8
7.5
7.5
5000
0.6
5.0
5.0
5.0
5.0
0.15
EEUEB2D470( )
200
5000
0.6
5000
0.6
5.0
5.0
200
200
0.15
0.15
EEUEB2D101( )
100
250
25.0
5000
200
500
20.0
5000
0.8
7.5
7.5
0.6
5.0
5.0
0.15
0.15
EEUEB2D680( )
EEUEB2D680S( )
25.0
5000
5000
0.8
7.5
7.5
0.8
7.5
7.5
100
EEUEB2D101S( )
100
250
5000
0.8
7.5
5000
0.8
7.5
200
0.15
100
20.0
5000
0.6
22
20.0
5000
0.6
5.0
5.0
7.5
220
31.5
5000
0.8
12.5
560
EEUEB2E330( )
12.5
560
0.15
50
200
25.0
5000
0.8
7.5
7.5
7.5
7.5
20.0
5000
0.8
0.15
5000
0.8
7.5
7.5
7.5
100
250
5000
0.8
20.0
5000
100
250
25.0
5000
0.8
7.5
7.5
0.8
7.5
7.5
20.0
5000
0.20
0.20
0.20
Should a safety concern arise regarding this product, please be sure to contact us immediately.
28-Feb-20
200
500
Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use.
12.5
410
500
25.0
5000
0.6
5.0
5.0
5.0
5.0
10
20.0
5000
0.6
16.0
410
5000
0.8
16.0
750
25.0
12.5
750
12.5
600
10.0
470
16.0
1280
18.0
16.0
1060
18.0
1060
12.5
750
12.5
600
10.0
470
12.5
600
18.0
1690
20.0
20.0
20.0
16.0
20.0
16.0
1280
18.0
16.0
1060
18.0
1060
16.0
750
25.0
31.5
20.0
5.0
5.0
5.0
7.5
16.0
1200
18.0
990
0.15
16.0
990
16.0
710
31.5
12.5
710
1280
18.0
1690
25.0
5000
0.6
5.0
20.0
16.0
480
12.5
350
10.0
270
18.0
1470
18.0
1200
20.0
20.0
31.5
25.0
18.0
780
EEUEB2V680
16.0
780
31.5
18.0
640
EEUEB2V470( )
EEUEB2V470S( )
16.0
640
7.5
7.5
25.0
5000
0.8
5000
0.8
7.5
0.8
7.5
7.5
10.0
250
18.0
970
31.5
5000
0.8
7.5
600
5000
0.8
7.5
16.0
600
5000
0.8
7.5
5000
0.6
5.0
5.0
7.5
7.5
12.5
310
7.5
18.0
730
5000
0.8
16.0
730
5000
0.8
0.24
7.5
16.0
680
0.8
7.5
7.5
18.0
560
5000
16.0
560
5000
25.0
20.0
31.5
0.8
7.5
10.0
470
7.5
7.5
18.0
850
5000
18.0
680
5000
0.8
5000
0.8
7.5
0.8
7.5
0.15
0.15
0.15
0.15
EEUEB2G470S( )
EEUEB2W100( )
EEUEB2W220( )
EEUEB2G330S( )
EEUEB2E151
EEUEB2V100( )
EEUEB2V220( )
EEUEB2V330S( )
EEUEB2D151
EEUEB2D151S( )
EEUEB2D221
EEUEB2E220( )
EEUEB2G470
EEUEB2G220( )
EEUEB2G220S( )
EEUEB2G330( )
0.15
0.15
0.20
7.5
7.5
5000
0.6
5.0
5.0
0.6
5.0
5.0
5000
7.5
7.5
5000
0.8
7.5
0.8
7.5
7.5
5000
160
47
10
0.24
22
47
0.24
0.24
0.24
0.24
0.24
0.24
0.24
0.24
0.24
0.24
0.24
0.15
0.15
0.15
0.15
68
0.15
100
100
100
100
250
250
250
250
50
250
100
250
100
250
250
500
500
500
100
250
500
500
250
250
250
250
250
500
500
250
250
100
250
200
500
200
500
50
100
100
100
100
100
100
250
250
200
100
50
EEUEB2C220( )
EEUEB2C330( )
EEUEB2C470( )
EEUEB2C680( )
EEUEB2C680S( )
EEUEB2C101( )
EEUEB2C101S( )
EEUEB2C151
100
100
200
100
100
100
100
100
200
100
EEUEB2W220S( )
EEUEB2W330( )
EEUEB2W330S( )
EEUEB2W470
150
220
68
100
EEUEB2V680S( )
EEUEB2V101
EEUEB2G100( )
EEUEB2E470( )
EEUEB2E470S( )
EEUEB2E680( )
EEUEB2E680S( )
EEUEB2E101
EEUEB2E101S( )
EEUEB2D220( )
EEUEB2D330( )
0.20
0.20
0.20
0.20
0.15
0.15
0.15
0.15
0.15
450
400
150
47
68
100
47
68
350
250
200
100
33
22
10
150
33
47
33
22
25.0
31.5
20.0
25.0
20.0
31.5
25.0
20.0
22
33
47
22
33
18.0
ٹ,I
\
RXZDQWWRXVHRXU
S
URGXFWVGHVFULEHGLQWKLVRQOLQHFDWDOR
J
IRUD
SS
OLFDWLRQVUH
T
XLULQ
J
V
S
HFLDO
T
XDOLWLHVRUUHOLDELOLW
\
RUIRUD
SS
OLFDWLRQVZKHUHWKHIDLOXUHRUPDOIXQFWLRQRIWKH
S
URGXFWVPD
\
GLUHFWO
\
M
HR
S
DUGL]HKXPDQOLIHRU
S
RWHQWLDOO
\
FDXVH
S
HUVRQDOLQ
M
XU
\
H
J
DLUFUDIWDQGDHURV
S
DFHH
T
XL
S
PHQW
WUDIILFDQGWUDQV
S
RUWDWLRQH
T
XL
S
PHQW
FRPEXVWLRQ
H
T
XL
S
PHQW
PHGLFDOH
T
XL
S
PHQW
DFFLGHQW
S
UHYHQWLRQ
DQWLFULPHH
T
XL
S
PHQW
DQGRUVDIHW
\
H
T
XL
S
PHQW

LWLVQHFHVVDU
\
WRYHULI
\
ZKHWKHUWKHV
S
HFLILFDWLRQVRIRXU
S
URGXFWVILWWRVXFK
D
SS
OLFDWLRQV3OHDVHHQVXUHWKDW
\
RXZLOODVNDQGFKHFNZLWKRXULQ
T
XLU
\
GHVNDVWRZKHWKHU
WKHV
S
HFLILFDWLRQVRIRXU
S
URGXFWVILWWRVXFKD
SS
OLFDWLRQVXVHEHIRUH
\
RXXVHRXU
S
URGXFWV
ٹ7KH
T
XDOLW
\
DQG
S
HUIRUPDQFHRIRXU
S
URGXFWVDVGHVFULEHGLQWKLVRQOLQHFDWDOR
J
RQO
\
D
SS
O
\
WRRXU
S
URGXFWVZKHQXVHGLQLVRODWLRQ7KHUHIRUH
S
OHDVHHQVXUH
\
RXHYDOXDWHDQGYHULI
\
RXU
S
URGXFWVXQGHUWKHV
S
HFLILFFLUFXPVWDQFHVLQZKLFKRXU
S
URGXFWVDUHDVVHPEOHGLQ
\
RXU
RZQ
S
URGXFWVDQGLQZKLFKRXU
S
URGXFWVZLOODFWXDOO
\
EHXVHG
ٹ,I
\
RXXVHRXU
S
URGXFWVLQH
T
XL
S
PHQWWKDWUH
T
XLUHVDKL
J
KGH
J
UHHRIUHOLDELOLW
\
UH
J
DUGOHVV
RIWKHD
SS
OLFDWLRQ
LWLVUHFRPPHQGHGWKDW
\
RXVHWX
S
S
URWHFWLRQFLUFXLWVDQGUHGXQGDQF
\
FLUFXLWVLQRUGHUWRHQVXUHVDIHW
\
RI
\
RXUH
T
XL
S
PHQW
ٹ7KH
S
URGXFWVDQG
S
URGXFWV
S
HFLILFDWLRQVGHVFULEHGLQWKLVRQOLQHFDWDOR
J
DUHVXE
M
HFWWR
FKDQ
J
HIRULP
S
URYHPHQWZLWKRXW
S
ULRUQRWLFH7KHUHIRUH
S
OHDVHEHVXUHWRUH
T
XHVWDQG
FRQILUPWKHODWHVW
S
URGXFWV
S
HFLILFDWLRQVZKLFKH[
S
ODLQWKHV
S
HFLILFDWLRQVRIRXU
S
URGXFWVLQ
GHWDLO
EHIRUH
\
RXILQDOL]HWKHGHVL
J
QRI
\
RXUD
SS
OLFDWLRQV
S
XUFKDVH
RUXVHRXU
S
URGXFWV
ٹ7KHWHFKQLFDOLQIRUPDWLRQLQWKLVRQOLQHFDWDOR
J
S
URYLGHVH[DP
S
OHVRIRXU
S
URGXFWV
W
\S
LFDOR
S
HUDWLRQVDQGD
SS
OLFDWLRQFLUFXLWV:HGRQRW
J
XDUDQWHHWKHQRQLQIULQ
J
HPHQWRI
WKLUG
S
DUW
\
VLQWHOOHFWXDO
S
UR
S
HUW
\
UL
J
KWVDQGZHGRQRW
J
UDQWDQ
\
OLFHQVH
UL
J
KW
RULQWHUHVW
LQRXULQWHOOHFWXDO
S
UR
S
HUW
\
ٹ,IDQ
\
RIRXU
S
URGXFWV
S
URGXFWV
S
HFLILFDWLRQVDQGRUWHFKQLFDOLQIRUPDWLRQLQWKLVRQOLQH
FDWDOR
J
LVWREHH[
S
RUWHGRU
S
URYLGHGWRQRQUHVLGHQWV
WKHODZVDQGUH
J
XODWLRQVRIWKH
H[
S
RUWLQ
J
FRXQWU
\
HV
S
HFLDOO
\
ZLWKUH
J
DUGWRVHFXULW
\
DQGH[
S
RUWFRQWURO
VKDOOEHREVHUYHG
ٹ7KHVZLWFKRYHUGDWHIRUFRP
S
OLDQFHZLWKWKH5R+6'LUHFWLYH5($&+5H
J
XODWLRQVYDULHV
GH
S
HQGLQ
J
RQWKH
S
DUWQXPEHURUVHULHVRIRXU
S
URGXFWV
ٹ:KHQ
\
RXXVHWKHLQYHQWRU
\
RIRXU
S
URGXFWVIRUZKLFKLWLVXQFOHDUZKHWKHUWKRVH
S
URGXFWV
DUHFRP
S
OLDQWZLWKWKH5R+6'LUHFWLYH5($&+5H
J
XODWLRQ
S
OHDVHVHOHFW6DOHV,Q
T
XLU
\
LQWKH
ZHEVLWHLQ
T
XLU
\
IRUPDQGFRQWDFWXV
:HGRQRWWDNHDQ
\
UHV
S
RQVLELOLW
\
IRUWKHXVHRIRXU
S
URGXFWVRXWVLGHWKHVFR
S
HRIWKH
V
S
HFLILFDWLRQV
GHVFUL
S
WLRQV
J
XLGHOLQHVDQG
S
UHFDXWLRQVGHVFULEHGLQWKLVRQOLQHFDWDOR
J
2FW
*XLGHOLQHVDQGSUHFDXWLRQVUHJDUGLQJWKH
WHFKQLFDOLQIRUPDWLRQDQGXVHRIRXUSURGXFWV
GHVFULEHGLQWKLVRQOLQHFDWDORJ
5HJDUGLQJWKH&HUWLILFDWHRI&RPSOLDQFHZLWK
WKH(85R+6'LUHFWLYH5($&+5HJXODWLRQV!
1RWLFHV,WHPVWREHREVHUYHG
ٹ$
SS
OLFDEOHODZVDQGUH
J
XODWLRQV
嵣7KLV
S
URGXFWFRP
S
OLHVZLWKWKH5R+6'LUHFWLYH
5HVWULFWLRQRIWKHXVHRIFHUWDLQKD]DUGRXVVXEVWDQFHVLQ
HOHFWULFDODQGHOHFWURQLFH
T
XL
S
PHQW
',5(&7,9((8DQGق(8


嵣1R2]RQH'H
S
OHWLQ
J
&KHPLFDOV
2'&V
FRQWUROOHGXQGHUWKH0RQWUHDO3URWRFRO$
J
UHHPHQWDUHXVHGLQ

S
URGXFLQ
J
WKLV
S
URGXFW
岜:HGRQRWXVH3%%VRU3%'(VDVEURPLQDWHGIODPHUHWDUGDQWV
嵣([
S
RUW
S
URFHGXUHZKLFKIROORZHGH[
S
RUWUHODWHGUH
J
XODWLRQVVXFKDVIRUHL
J
QH[FKDQ
J
HDQGDIRUHL
J
QWUDGH
PHWKRGRQWKHRFFDVLRQRIH[
S
RUWRIWKLV
S
URGXFW
嵣7KHVH
S
URGXFWVDUHQRWGDQ
J
HURXV
J
RRGVRQWKHWUDQV
S
RUWDWLRQDVLGHQWLILHGE
\
81
8QLWHG1DWLRQV
QXPEHUV
RU81FODVVLILFDWLRQ
ٹ/LPLWHGD
SS
OLFDWLRQV
嵣7KLVFD
S
DFLWRULVGHVL
J
QHGWREHXVHGIRUHOHFWURQLFVFLUFXLWVVXFKDVDXGLRYLVXDOH
T
XL
S
PHQWKRPH
D
SS
OLDQFHVFRP
S
XWHUVDQGRWKHURIILFHH
T
XL
S
PHQWR
S
WLFDOH
T
XL
S
PHQWPHDVXULQ
J
H
T
XL
S
PHQW
嵣+L
J
KUHOLDELOLW
\
DQGVDIHW
\
DUHUH
T
XLUHG
>
EHD
S
RVVLELOLW
\
WKDWLQFRUUHFWR
S
HUDWLRQRIWKLV
S
URGXFWPD
\
GRKDUP
岜WRDKXPDQOLIHRU
S
UR
S
HUW
\
@
PRUH:KHQXVHLVFRQVLGHUHGE
\
WKHXVHWKHGHOLYHU
\
V
S
HFLILFDWLRQVZKLFKVXLWHG
WKHXVHVH
S
DUDWHO
\
QHHGWREHH[FKDQ
J
HG
ٹ,QWHOOHFWXDO
S
UR
S
HUW
\
UL
J
KWVDQGOLFHQVHV
嵣7KHWHFKQLFDOLQIRUPDWLRQLQWKLVV
S
HFLILFDWLRQ
S
URYLGHVH[DP
S
OHVRIRXU
S
URGXFWVW
\S
LFDOR
S
HUDWLRQVDQGD
SS
OLFDWLRQ
FLUFXLWV:HGRQRW
J
XDUDQWHHWKHQRQLQIULQ
J
HPHQWRIWKLUG
S
DUW
\
VLQWHOOHFWXDO
S
UR
S
HUW
\
UL
J
KWVDQGZHGRQRW
J
UDQW
DQ
\
OLFHQVHUL
J
KWRULQWHUHVWLQRXULQWHOOHFWXDO
S
UR
S
HUW
\
ٹ)RUV
S
HFLILFDWLRQ
嵣7KLVV
S
HFLILFDWLRQ
J
XDUDQWHHVWKH
T
XDOLW
\
DQG
S
HUIRUPDQFHRIWKH
S
URGXFWDVLQGLYLGXDOFRP
S
RQHQWV
7KHGXUDELOLW
\
GLIIHUVGH
S
HQGLQ
J
RQWKHHQYLURQPHQWDQGWKHFRQGLWLRQVRIXVD
J
H
%HIRUHXVHFKHFNDQGHYDOXDWHWKHLUFRP
S
DWLELOLW
\
ZLWKDFWXDOFRQGLWLRQVZKHQLQVWDOOHGLQWKH
S
URGXFWV
:KHQVDIHW
\
UH
T
XLUHPHQWVFDQQRWEHVDWLVILHGLQ
\
RXUWHFKQLFDOH[DPLQDWLRQLQIRUPXVLPPHGLDWHO
\
嵣'RQRWXVHWKH
S
URGXFWVEH
\
RQGWKHV
S
HFLILFDWLRQVGHVFULEHGLQWKLVGRFXPHQW
ٹ8
S
RQD
SS
OLFDWLRQWR
S
URGXFWVZKHUHVDIHW
\
LVUH
J
DUGHGDVLP
S
RUWDQW
,QVWDOOWKHIROORZLQ
J
V
\
VWHPVIRUDIDLOVDIHGHVL
J
QWRHQVXUHVDIHW
\
LIWKHVH
S
URGXFWVDUHWREHXVHGLQ
H
T
XL
S
PHQWZKHUHDGHIHFWLQWKHVH
S
URGXFWVPD
\
FDXVHWKHORVVRIKXPDQOLIHRURWKHUVL
J
QLILFDWLRQGDPD
J
H
VXFKDVGDPD
J
HWRYHKLFOHV
DXWRPRELOHWUDLQYHVVHO
WUDIILFOL
J
KWVPHGLFDOH
T
XL
S
PHQWDHURV
S
DFHH
T
XL
S
PHQW
HOHFWULFKHDWLQ
J
D
SS
OLDQFHVFRPEXVWLRQ
J
DVH
T
XL
S
PHQWURWDWLQ
J
URWDWLQ
J
H
T
XL
S
PHQWDQGGLVDVWHUFULPH
S
UHYHQWLRQH
T
XL
S
PHQW
7KHV
\
VWHPLVH
T
XL
SS
HGZLWKD
S
URWHFWLRQFLUFXLWDQG
S
URWHFWLRQGHYLFH
7KHV
\
VWHPLVH
T
XL
SS
HGZLWKDUHGXQGDQWFLUFXLWRURWKHUV
\
VWHPWR
S
UHYHQWDQXQVDIHVWDWXVLQWKHHYHQW
RIDVLQ
J
OHIDXOW
ٹ&RQGLWLRQVRIXVH
嵣%HIRUHXVLQ
J
WKH
S
URGXFWVFDUHIXOO
\
FKHFNWKHHIIHFWVRQWKHLU
T
XDOLW
\
DQG
S
HUIRUPDQFHDQGGHWHUPLQHG
岜ZKHWKHURUQRWWKH
\
FDQEHXVHG7KHVH
S
URGXFWVDUHGHVL
J
QHGDQGPDQXIDFWXUHGIRU
J
HQHUDO
S
XU
S
RVHDQG
岜VWDQGDUGXVHLQ
J
HQHUDOHOHFWURQLFH
T
XL
S
PHQW7KHVH
S
URGXFWVDUHQRWLQWHQGHGIRUXVHLQWKHIROORZLQ
J
V
S
HFLDO
岜FRQGLWLRQV
,QOL
T
XLGVXFKDV:DWHU2LO&KHPLFDOVRU2U
J
DQLFVROYHQW
,QGLUHFWVXQOL
J
KWRXWGRRUVRULQGXVW
,QYD
S
RUVXFKDVGHZFRQGHQVDWLRQZDWHURIUHVLVWLYHHOHPHQWRUZDWHUOHDND
J
HVDOW
\
DLURUDLUZLWKD
KL
J
KFRQFHQWUDWLRQFRUURVLYH
J
DVVXFKDV&O+61+62RU12[
,QDQHQYLURQPHQWZKHUHVWURQ
J
VWDWLFHOHFWULFLW
\
RUHOHFWURPD
J
QHWLFZDYHVH[LVW
0RXQWLQ
J
RU
S
ODFLQ
J
KHDW
J
HQHUDWLQ
J
FRP
S
RQHQWVRULQIODPPDEOHVVXFKDVYLQ
\
OFRDWHGZLUHVQHDU
WKHVH
S
URGXFWV
6HDOLQ
J
RUFRDWLQ
J
RIWKHVH
S
URGXFWVRUD
S
ULQWHGFLUFXLWERDUGRQZKLFKWKHVH
S
URGXFWVDUHPRXQWHG
ZLWKUHVLQDQGRWKHUPDWHULDO
8VLQ
J
UHVROYHQWZDWHURUZDWHUVROXEOHFOHDQHUIRUIOX[FOHDQLQ
J
D
J
HQWDIWHUVROGHULQ
J

,Q
S
DUWLFXODU
ZKHQXVLQ
J
ZDWHURUDZDWHUVROXEOHFOHDQLQ
J
D
J
HQWEHFDUHIXOQRWWROHDYHZDWHUUHVLGXHV
8VLQ
J
LQWKHDWPRV
S
KHUHZKHUHVWUD
\
VDFLGRUDONDOLQH
8VLQ
J
LQWKHDWPRV
S
KHUHZKHUHWKHUHDUHH[FHVVLYHYLEUDWLRQDQGVKRFN
嵣3OHDVHDUUDQ
J
HFLUFXLWGHVL
J
QIRU
S
UHYHQWLQ
J
LP
S
XOVHRUWUDQVLWLRQDOYROWD
J
H
岜'RQRWD
SS
O
\
YROWD
J
HZKLFKH[FHHGVWKHIXOOUDWHGYROWD
J
HZKHQWKHFD
S
DFLWRUVUHFHLYHLP
S
XOVHYROWD
J
H
岜LQVWDQWDQHRXVKL
J
KYROWD
J
HKL
J
K
S
XOVHYROWD
J
HHWF
嵣2XU
S
URGXFWVWKHUHLVD
S
URGXFWDUHXVLQ
J
DQHOHFWURO
\
WHVROXWLRQ7KHUHIRUHPLVXVHFDQUHVXOWLQUD
S
LG
岜GHWHULRUDWLRQRIFKDUDFWHULVWLFVDQGIXQFWLRQVRIHDFK
S
URGXFW(OHFWURO
\
WHOHDND
J
HGDPD
J
HV
S
ULQWHGFLUFXLWDQG
DIIHFWV
S
HUIRUPDQFHFKDUDFWHULVWLFVDQGIXQFWLRQVRIFXVWRPHUV
\
VWHP
1RWLFHV
,WHPVWREHREVHUYHG
2FW
$OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH
&LUFXLWGHVL
J
Q
2SHUDWLQJWHPSHUDWXUHDQGIUHTXHQF\
(OHFWULFDOFKDUDFWHULVWLFVRIWKHFDSDFLWRUDUHOLNHO\WRFKDQJHGXHWRYDULDWLRQLQWHPSHUDWXUHDQGRUIUHTXHQF\
&LUFXLWGHVLJQHUVVKRXOGWDNHWKHVHFKDQJHVLQWRFRQVLGHUDWLRQ
(IIHFWVRIRSHUDWLQJWHPSHUDWXUHRQHOHFWULFDOSDUDPHWHUV
$WKLJKHUWHPSHUDWXUHV OHDNDJHFXUUHQWDQGFDSDFLWDQFHLQFUHDVHZKLOHHTXLYDOHQWVHULHVUHVLVWDQFH
(65GHFUHDVHV
$WORZHUWHPSHUDWXUHV OHDNDJHFXUUHQWDQGFDSDFLWDQFHGHFUHDVHZKLOHHTXLYDOHQWVHULHVUHVLVWDQFH
(65LQFUHDVHV
(IIHFWVRIIUHTXHQF\RQHOHFWULFDOSDUDPHWHUV
$WKLJKHUIUHTXHQFLHV FDSDFLWDQFHDQGLPSHGDQFHGHFUHDVHZKLOHWDQGLQFUHDVHV
$WORZHUIUHTXHQFLHV KHDWJHQHUDWHGE\ULSSOHFXUUHQWZLOOULVHGXHWRDQLQFUHDVHLQHTXLYDOHQW
VHULHVUHVLVWDQFH(65
2SHUDWLQJWHPSHUDWXUHDQGOLIHH[SHFWDQF\
([SHFWHGOLIHLVDIIHFWHGE\RSHUDWLQJWHPSHUDWXUH*HQHUDOO\HDFK&UHGXFWLRQLQWHPSHUDWXUHZLOO
GRXEOHWKHH[SHFWHGOLIH8VHFDSDFLWRUVDWWKHORZHVWSRVVLEOHWHPSHUDWXUHEHORZWKHXSSHUFDWHJRU\
WHPSHUDWXUH
,IRSHUDWLQJWHPSHUDWXUHVH[FHHGWKHXSSHUFDWHJRU\OLPLWUDSLGGHWHULRUDWLRQRIHOHFWULFDOSDUDPHWHU
ZLOORFFXUDQGLUUHYHUVLEOHGDPDJHZLOOUHVXOW
&KHFNIRUWKHPD[LPXPFDSDFLWRURSHUDWLQJWHPSHUDWXUHVLQFOXGLQJDPELHQWWHPSHUDWXUHLQWHUQDO
FDSDFLWRUWHPSHUDWXUHULVHGXHWRULSSOHFXUUHQWDQGWKHHIIHFWVRIUDGLDWHGKHDWIURPSRZHUWUDQVLVWRUV
,&VRUUHVLVWRUV
$YRLGSODFLQJFRPSRQHQWVZKLFKFRXOGFRQGXFWKHDWWRWKHFDSDFLWRUIURPWKHEDFNVLGHRIWKHFLUFXLWERDUG
7KHIRUPXODIRUFDOFXODWLQJH[SHFWHGOLIHDWORZHURSHUDWLQJWHPSHUDWXUHVLVDVIROORZV
/ /¼
/؟*XDUDQWHHGOLIHKDWWHPSHUDWXUH7&
/؟([SHFWHGOLIHKDWWHPSHUDWXUH7&
7؟8SSHUFDWHJRU\WHPSHUDWXUHWHPSHUDWXUHULVHGXHWRUDWHGULSSOHFXUUHQW&
7؟$FWXDORSHUDWLQJWHPSHUDWXUHDPELHQWWHPSHUDWXUHWHPSHUDWXUHULVHGXHWRULSSOHFXUUHQW&
8VLQJWKHFDSDFLWRUEH\RQGWKHHVWLPDWHGOLIHWLPHZLOOUHVXOWLQVKRUWFLUFXLWHOHFWURO\WHOHDNYHQWRSHQ
DQGODUJHGHWHULRUDWLRQRIFKDUDFWHULVWLFV7KHOLIHWLPHFDQQRWJRDERYH\HDUVGXHWRDJLQJRIVHDOLQJUXEEHU
&RPPRQDSSOLFDWLRQFRQGLWLRQVWRDYRLG
7KHIROORZLQJPLVDSSOLFDWLRQORDGFRQGLWLRQVZLOOFDXVHUDSLGGHWHULRUDWLRQRIDFDSDFLWRUbVHOHFWULFDOSDUDPHWHUV
,QDGGLWLRQUDSLGKHDWLQJDQGJDVJHQHUDWLRQZLWKLQWKHFDSDFLWRUFDQRFFXUFDXVLQJWKHSUHVVXUHUHOLHIYHQW
WRRSHUDWHDQGUHVXOWDQWOHDNDJHRIHOHFWURO\WH8QGHUH[WUHPHFRQGLWLRQVH[SORVLRQDQGILUHLJQLWLRQFRXOGUHVXOW
7KHOHDNHGHOHFWURO\WHLVFRPEXVWLEOHDQGHOHFWULFDOO\FRQGXFWLYH
5HYHUVHYROWDJH
'&FDSDFLWRUVKDYHSRODULW\7KHUHIRUHSOHDVHGRQRWDSSO\WKHUHYHUVHYROWDJH9HULI\FRUUHFWSRODULW\
EHIRUHLQVHUWLRQ
)RUFLUFXLWVZLWKFKDQJLQJRUXQFHUWDLQSRODULW\XVH'&ELSRODUFDSDFLWRUV'&ELSRODUFDSDFLWRUVDUHQRW
VXLWDEOHIRUXVHLQ$&FLUFXLWV
&KDUJH'LVFKDUJHDSSOLFDWLRQV
6WDQGDUGFDSDFLWRUVDUHQRWVXLWDEOHIRUXVHLQUHSHDWLQJFKDUJHGLVFKDUJHDSSOLFDWLRQV)RUFKDUJH
GLVFKDUJHDSSOLFDWLRQVFRQVXOWXVZLWK\RXUDFWXDODSSOLFDWLRQFRQGLWLRQ
)RUUXVKFXUUHQWSOHDVHWRQRUH[FHHG$
212))FLUFXLW
'RQRWXVHFDSDFLWRUVLQFLUFXLWZKHUH212))VZLWFKLQJLVUHSHDWHGPRUHWKDQWLPHVSHUGD\
,QFDVHRIDSSO\LQJWRWKHWKHVHV212))FLUFXLWFRQVXOWZLWKXVDERXWFLUFXLWFRQGLWLRQDQGVRRQ
2FW
岜岜$SSOLFDWLRQJXLGHOLQHVق5DGLDOOHDG7\SHك
77

$OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH
2YHUYROWDJH
'RQRWDSSO\YROWDJHVH[FHHGLQJWKHPD[LPXPVSHFLILHGUDWHGYROWDJH9ROWDJHVXSWRWKHVXUJHYROWDJH
UDWLQJDUHDFFHSWDEOHIRUVKRUWSHULRGVRIWLPH
(QVXUHWKDWWKHVXPRIWKH'&YROWDJHDQGWKHVXSHULPSRVHG$&ULSSOHYROWDJHGRHVQRWH[FHHGWKH
UDWHGYROWDJH
5LSSOHFXUUHQW
'RQRWDSSO\ULSSOHFXUUHQWVH[FHHGLQJWKHPD[LPXPVSHFLILHGYDOXH)RUKLJKULSSOHFXUUHQWDSSOLFDWLRQV
XVHDFDSDFLWRUGHVLJQHGIRUKLJKULSSOHFXUUHQWV,QDGGLWLRQFRQVXOWXVLIWKHDSSOLHGULSSOHFXUUHQWLVWR
EHKLJKHUWKDQWKHPD[LPXPVSHFLILHGYDOXH(QVXUHWKDWUDWHGULSSOHFXUUHQWVWKDWVXSHULPSRVHGRQORZ
'&ELDVYROWDJHVGRQRWFDXVHUHYHUVHYROWDJHFRQGLWLRQV
(YHQLILWLVZLWKLQDUDWHGULSSOHFXUUHQWLQFDVHWKHSUDFWLFDOXVHLVRYHUWKHSUHGHVFULEHGHQGXUDQFH
OLIHWLPHLWFDXVHVWKHLQFUHDVHRIGHWHULRUDWLRQRI(65FKDUDFWHULVWLFDQGWKHLQWHUQDOJHQHUDWLRQKHDWE\
ULSSOHFXUUHQW'XHWRWKLVWKHUHLVVRPHSRVVLELOLW\RIYHQWRSHQEXOJLQJRIVOHHYHDQGUXEEHUHOHFWURO\WH
OHDNDJHDQGVKRWFLUFXLWH[SORVLRQDQGLJQLWLRQLQWKHZRUVWFDVH
8VLQ
J
WZRRUPRUHFD
S
DFLWRUVLQ
S
DUDOOHO
&DSDFLWRUVFRQQHFWHGLQSDUDOOHO
7KHFLUFXLWUHVLVWDQFHFDQFORVHO\DSSUR[LPDWHWKHVHULHVUHVLVWDQFHRIWKHFDSDFLWRUFDXVLQJDQLPEDODQFHRI
ULSSOHFXUUHQWORDGVZLWKLQWKHFDSDFLWRUV&DUHIXOZLULQJPHWKRGVFDQPLQLPL]HWKHSRVVLEOHDSSOLFDWLRQRIDQ
H[FHVVLYHULSSOHFXUUHQWWRDFDSDFLWRU
&DSDFLWRUVFRQQHFWHGLQVHULHV
'LIIHUHQFHVLQQRUPDO'&OHDNDJHFXUUHQWDPRQJFDSDFLWRUVFDQFDXVHYROWDJHLPEDODQFHV
7KHXVHRIYROWDJHGLYLGHUVKXQWUHVLVWRUVZLWKFRQVLGHUDWLRQWROHDNDJHFXUUHQWVFDQSUHYHQWFDSDFLWRU
YROWDJHLPEDODQFHV
127(3OHDVHGRQRWXVHLQWKHVHULHVLQWKHFDVHRIFRQGXFWLYHSRO\PHUK\EULGDOXPLQXPHOHFWURO\WLFFDSDFLWRU
&DSDFLWRUPRXQWLQJFRQVLGHUDWLRQV
'RXEOHVLGHGFLUFXLWERDUGV
$YRLGZLULQJSDWWHUQUXQVZKLFKSDVVEHWZHHQWKHPRXQWHGFDSDFLWRUDQGWKHFLUFXLWERDUG
:KHQGLSSLQJLQWRDVROGHUEDWKDQH[FHVVVROGHUPD\GHSRVLWXQGHUWKHFDSDFLWRUE\FDSLOODU\DFWLRQ
FDXVLQJVKRUWFLUFXLWEHWZHHQDQRGHDQGFDWKRGHWHUPLQDOV
&LUFXLW%RDUG+ROH3RVLWLRQLQJ
7KHYLQ\OVOHHYHRIWKHFDSDFLWRUFDQEHGDPDJHGLIVROGHUSDVVHVWKURXJKDOHDGKROHLQWRWKHVXEVHTXHQWO\
SURFHVVHGSDUWV
6SHFLDOFDUHZKHQORFDWLQJKROHSRVLWLRQVLQSUR[LPLW\WRFDSDFLWRUVLVUHFRPPHQGHG
&LUFXLW%RDUG+ROH6SDFLQJ
7KHVSDFLQJRIFLUFXLWERDUGKROHVVKRXOGPDWFKWKHOHDGZLUHVSDFLQJRIFDSDFLWRUVZLWKLQWKHVSHFLILHG
WROHUDQFHV,QFRUUHFWVSDFLQJFDQFDXVHDQH[FHVVLYHOHDGZLUHVWUHVVGXULQJWKHLQVHUWLRQSURFHVV
7KLVPD\UHVXOWLQSUHPDWXUHFDSDFLWRUIDLOXUHGXHWRWKHVKRUWRURSHQFLUFXLWLQFUHDVHGOHDNDJHFXUUHQW
RUHOHFWURO\WHOHDNDJH
&OHDUDQFHIRUFDVHPRXQWHGSUHVVXUHUHOLHI
&DSDFLWRUVZLWKFDVHPRXQWHGSUHVVXUHUHOLHIUHTXLUHVXIILFLHQWFOHDUDQFHWRDOORZIRUSURSHUSUHVVXUH
UHOLHIRSHUDWLRQ
7KHPLQLPXPFOHDUDQFHDUHGHSHQGHQWRQFDSDFLWRUGLDPHWHUVDVIROORZV
'LDPPWR'LDPPPPPLQLPXP'LDPPPPPLQLPXP
:LULQJQHDUWKHSUHVVXUHUHOLHI
$YRLGORFDWLQJKLJKYROWDJHRUKLJKFXUUHQWZLULQJRUFLUFXLWERDUGSDWKVDERYHWKHSUHVVXUHUHOLHI
)ODPPDEOHKLJKWHPSHUDWXUHJDVWKDWH[FHHGV&PD\EHUHOHDVHGZKLFKFRXOGGLVVROYHWKHZLUH
LQVXODWLRQDQGLJQLWH
&LUFXLWERDUGSDWWHUQVXQGHUWKHFDSDFLWRU
$YRLGFLUFXLWERDUGUXQVXQGHUWKHFDSDFLWRUDVDQHOHFWULFDOVKRUWFDQRFFXUGXHWRDQHOHFWURO\WHOHDNDJH
3OHDVHQRWHWKHUHVRQDQWDIWHUSURGXFWLPSOHPHQWDWLRQ
7KHYLFLQLW\RIWKHUHVRQDQWSRLQWZLOOWDNHDKHDY\ORDGRQWKHFDSDFLWRU
&DSDFLWRUVFDQFDXVHUDSLGFKDQJHLQFKDUDFWHULVWLFVDQGGURSRXWE\WKLVORDG
(OHFWULFDOLVRODWLRQRIWKHFDSDFLWRU
&RPSOHWHO\LVRODWHWKHFDSDFLWRUDVIROORZV
%HWZHHQWKHFDWKRGHDQGWKHFDVHDQGEHWZHHQWKHDQRGHWHUPLQDODQGRWKHUFLUFXLWSDWKV
2FW
$OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH
&DSDFLWRU6OHHYH
7KHYLQ\OVOHHYHRUODPLQDWHFRDWLQJLVLQWHQGHGIRUPDUNLQJDQGLGHQWLILFDWLRQSXUSRVHVDQGLVQRWPHDQWWR
HOHFWULFDOO\LQVXODWHWKHFDSDFLWRU
7KHVOHHYHPD\VSOLWRUFUDFNLILPPHUVHGLQWRVROYHQWVVXFKDVWROXHQHRU[\OHQHDQGWKHQVXEVHTXHQWO\
H[SRVHGWRKLJKWHPSHUDWXUHV
&D
S
DFLWRUKDQGOLQ
J
WHFKQL
T
XHV
&RQVLGHUDWLRQVEHIRUHXVLQJ
&DSDFLWRUVKDYHDILQLWHOLIH'RQRWUHXVHRUUHF\FOHFDSDFLWRUVIURPXVHGHTXLSPHQW
7UDQVLHQWUHFRYHU\YROWDJHPD\EHJHQHUDWHGLQWKHFDSDFLWRUGXHWRGLHOHFWULFDEVRUSWLRQ
,IUHTXLUHGWKLVYROWDJHFDQEHGLVFKDUJHGZLWKDUHVLVWRUZLWKDYDOXHRIDERXWN
&DSDFLWRUVVWRUHGIRUDORQJSHULRGRIWLPHPD\H[KLELWDQLQFUHDVHLQOHDNDJHFXUUHQW
7KLVFDQEHFRUUHFWHGE\JUDGXDOO\DSSO\LQJUDWHGYROWDJHLQVHULHVZLWKDUHVLVWRURIDSSUR[LPDWHO\N
,IFDSDFLWRUVDUHGURSSHGWKH\FDQEHGDPDJHGPHFKDQLFDOO\RUHOHFWULFDOO\$YRLGXVLQJGURSSHG
FDSDFLWRUV
'HQWHGRUFUXVKHGFDSDFLWRUVVKRXOGQRWEHXVHG
7KHVHDOLQWHJULW\FDQEHGDPDJHGDQGORVVRIHOHFWURO\WHVKRUWHQHGOLIHFDQUHVXOW
&DSDFLWRULQVHUWLRQ
9HULI\WKHFRUUHFWFDSDFLWDQFHDQGUDWHGYROWDJHRIWKHFDSDFLWRU
9HULI\WKHFRUUHFWSRODULW\RIWKHFDSDFLWRUEHIRUHLQVHUWLRQ
9HULI\WKHFRUUHFWWHUPLQDOGLPHQVLRQDQGODQGSDWWHUQVL]HEHIRUHPRXQWWRDYRLGVWUHVVRQWKHWHUPLQDOV
(QVXUHWKDWWKHOHDGFOLQFKLQJRSHUDWLRQGRQHE\DXWRLQVHUWLRQHTXLSPHQWVGRHVQRWVWUHVVWKHFDSDFLWRUOHDGV
ZKHUHWKH\HQWHUWKHVHDORIWKHFDSDFLWRU
)ORZ6ROGHULQJ
'RQRWLPPHUVHWKHFDSDFLWRUERG\LQWRWKHVROGHUEDWKDVH[FHVVLYHLQWHUQDOSUHVVXUHFRXOGUHVXOW
$SSO\SURSHUVROGHULQJFRQGLWLRQVWHPSHUDWXUHWLPHHWF'RQRWH[FHHGWKHVSHFLILHGOLPLWV
'RQRWDOORZRWKHUSDUWVRUFRPSRQHQWVWRWRXFKWKHFDSDFLWRUGXULQJVROGHULQJ
5DGLDOOHDGW\SHFDSDFLWRUVDUHQRWDOORZHGIRUWKHUHIORZVROGHULQJ
0DQXDOVROGHULQJ
$SSO\VROGHULQJFRQGLWLRQVWHPSHUDWXUHDQGWLPHEDVHGRQWKHVSHFLILFDWLRQRUGRQRWH[FHHGWHPSHUDWXUH
RI٦IRUVHFRQGVRUOHVV
,IOHDGZLUHVPXVWEHPRGLILHGWRPHHWWHUPLQDOERDUGKROHVSDFLQJDYRLGVWUHVVRQWKHOHDGZLUHZKHUHLW
HQWHUVWKHFDSDFLWRUVHDO
,IDVROGHUHGFDSDFLWRUPXVWEHUHPRYHGDQGUHLQVHUWHGDYRLGH[FHVVLYHVWUHVVRQWKHFDSDFLWRUOHDGV
$YRLGSK\VLFDOFRQWDFWVEHWZHHQWKHWLSRIWKHVROGHULQJLURQDQGFDSDFLWRUVWRSUHYHQWPHOWLQJRIWKHYLQ\OVOHHYH
2WKHU6ROGHULQJ&RQVLGHUDWLRQV
5DSLGWHPSHUDWXUHULVHGXULQJWKHSUHKHDWRSHUDWLRQDQGUHVLQERQGLQJRSHUDWLRQFDQFDXVHFUDFNLQJRIWKH
FDSDFLWRUbVYLQ\OVOHHYH
)RUKHDWFXULQJGRQRWH[FHHG&IRUWKHPD[LPXPWLPHRIPLQXWHV
&DSDFLWRUKDQGOLQJDIWHUVROGHULQJ
$YRLGPRYLQJWKHFDSDFLWRUDIWHUVROGHULQJWRSUHYHQWH[FHVVLYHVWUHVVRQWKHOHDGZLUHVZKHUHWKH\HQWHU
WKHVHDO7KHFDSDFLWRUPD\EUHDNIURPHOHPHQWSRUWLRQGXHWRDWRUTXHDWRXWHUULPFDXVLQJDODUJHVWUHVV
WRWHUPLQDOV
'RQRWXVHWKHFDSDFLWRUDVDKDQGOHZKHQPRYLQJWKHFLUFXLWERDUGDVVHPEO\7KHWRWDOZHLJKWRIWKH
ERDUGZRXOGDSSO\WRHOHPHQWSRUWLRQWKURXJKWHUPLQDOVDQGWKHFDSDFLWRUPD\EUHDN
$YRLGVWULNLQJWKHFDSDFLWRUDIWHUDVVHPEO\WRSUHYHQWIDLOXUHGXHWRH[FHVVLYHVKRFN7KHFDSDFLWRUPD\
EUHDNGXHWRH[FHVVLYHVKRFNRUORDGDERYHVSHFLILHGUDQJH
&LUFXLWERDUGFOHDQLQJ
&LUFXLWERDUGVFDQEHLPPHUVHGRUXOWUDVRQLFDOO\FOHDQHGXVLQJVXLWDEOHFOHDQLQJVROYHQWVIRUXSWR
PLQXWHVDQGXSWR&PD[LPXPWHPSHUDWXUHV7KHERDUGVVKRXOGEHWKRURXJKO\ULQVHGDQGGULHG
7KHXVHRIR]RQHGHSOHWLQJFOHDQLQJDJHQWVLVQRWUHFRPPHQGHGIRUWKHSXUSRVHRISURWHFWLQJRXU
HQYLURQPHQW
岧7DUJHWVROYHQW岨
3LQH$OSKD676$TXD&OHDQHU6(3&OHDQWKUX+/06XQHOHF%
6XQHOHF%&ROG&OHDQHU37HFKQR&OHDQHU'.%HFOHDU&:
7HOSHQH&OHDQHU(&57HFKQRFDUH)5:)5:)59
2FW
$OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH
$YRLGXVLQJWKHIROORZLQJVROYHQWJURXSVXQOHVVVSHFLILFDOO\DOORZHGLQWKHVSHFLILFDWLRQ
D+DORJHQDWHGFOHDQLQJVROYHQWV؟H[FHSWIRUVROYHQWUHVLVWDQWFDSDFLWRUW\SHVKDORJHQDWHGVROYHQWVFDQ
SHUPHDWHWKHVHDODQGFDXVHLQWHUQDOFDSDFLWRUFRUURVLRQDQGIDLOXUH
)RUVROYHQWUHVLVWDQWFDSDFLWRUVFDUHIXOO\IROORZWKHWHPSHUDWXUHDQGWLPHUHTXLUHPHQWVEDVHGRQWKH
VSHFLILFDWLRQWULFKORURHWKDQHVKRXOGQHYHUEHXVHGRQDQ\DOXPLQXPHOHFWURO\WLFFDSDFLWRU
E$ONDOLQHVROYHQWV ؟FRXOGUHDFWDQGGLVVROYHWKHDOXPLQXPFDVH
F3HWUROHXPEDVHGVROYHQWV ؟GHWHULRUDWLRQRIWKHUXEEHUVHDOFRXOGUHVXOW
G;\OHQH ؟GHWHULRUDWLRQRIWKHUXEEHUVHDOFRXOGUHVXOW
H$FHWRQH ؟UHPRYDORIWKHLQNPDUNLQJVRQWKHYLQ\OVOHHYHFRXOGUHVXOW
$WKRURXJKGU\LQJDIWHUFOHDQLQJLVUHTXLUHGWRUHPRYHUHVLGXDOFOHDQLQJVROYHQWVWKDWPD\EHWUDSSHG
EHWZHHQWKHFDSDFLWRUDQGWKHFLUFXLWERDUG$YRLGGU\LQJWHPSHUDWXUHVZKLFKH[FHHGWKHXSSHUFDWHJRU\
WHPSHUDWXUHRIWKHFDSDFLWRU
0RQLWRUWKHFRQWDPLQDWLRQOHYHOVRIWKHFOHDQLQJVROYHQWVGXULQJXVHLQWHUPVRIHOHFWULFDOFRQGXFWLYLW\
S+VSHFLILFJUDYLW\RUZDWHUFRQWHQW
&KORULQHOHYHOVFDQULVHZLWKFRQWDPLQDWLRQDQGDGYHUVHO\DIIHFWWKHSHUIRUPDQFHRIWKHFDSDFLWRU
&RQWUROWKHIOX[GHQVLW\LQWKHFOHDQLQJDJHQWWREHOHVVWKDQPDVV
'HSHQGLQJRQWKHFOHDQLQJPHWKRGWKHPDUNLQJRQDFDSDFLWRUPD\EHHUDVHGRUEOXUUHG
پ3OHDVHFRQVXOWXVLI\RXDUHQRWFHUWDLQDERXWDFFHSWDEOHFOHDQLQJVROYHQWVRUFOHDQLQJPHWKRGV
0RXQWLQJDGKHVLYHVDQGFRDWLQJDJHQWV
:KHQXVLQJPRXQWLQJDGKHVLYHVRUFRDWLQJDJHQWVWRFRQWUROKXPLGLW\DYRLGXVLQJPDWHULDOVFRQWDLQLQJ
KDORJHQDWHGVROYHQWV
$OVRDYRLGWKHXVHRIFKORURSUHQHEDVHGSRO\PHUV
+DUGHQRQGU\DGKHVLYHRUFRDWLQJDJHQWVZHOOOHVWWKHVROYHQWVKRXOGEHOHIW
$IWHUDSSO\LQJDGKHVLYHVRUFRDWLQJVGU\WKRURXJKO\WRSUHYHQWUHVLGXDOVROYHQWVIURPEHLQJWUDSSHGEHWZHHQ
WKHFDSDFLWRUDQGWKHFLUFXLWERDUG
)XPLJDWLRQ
,QH[SRUWLQJHOHFWURQLFDSSOLDQFHVZLWKDOXPLQXPHOHFWURO\WLFFDSDFLWRUVLQVRPHFDVHVIXPLJDWLRQWUHDWPHQW
XVLQJVXFKKDORJHQFRPSRXQGDVPHWK\OEURPLGHLVFRQGXFWHGIRUZRRGHQER[HV
,IVXFKER[HVDUHQRWGULHGZHOOWKHKDORJHQOHIWLQWKHER[LVGLVSHUVHGZKLOHWUDQVSRUWHGDQGHQWHUVLQWKH
FDSDFLWRUVLQVLGH
7KLVSRVVLEO\FDXVHVHOHFWULFDOFRUURVLRQRIWKHFDSDFLWRUV7KHUHIRUHDIWHUSHUIRUPLQJIXPLJDWLRQDQGGU\LQJ
PDNHVXUHWKDWQRKDORJHQLVOHIW
'RQbWSHUIRUPIXPLJDWLRQWUHDWPHQWWRWKHZKROHHOHFWURQLFDSSOLDQFHVSDFNHGLQDER[
/HDYHPRUHWKDQRIWKHVHDOLQJSRUWLRQRSHQDQGGRQRWFRYHUWKDWSRUWLRQZLWKDQ\DGKHVLYHVRUFRDWLQJ
)OX[
,I\RXXVHDKDORJHQW\SH&KORULQHW\SH%URPLQHW\SHHWFKLJKDFWLYLW\IOX[SOHDVHXVHLWDIWHUFRQILUPDWLRQ
LQDGYDQFHDVLWPD\KDYHDQLPSDFWRQSHUIRUPDQFHDQGUHOLDELOLW\RIWKLVSURGXFWGXHWRWKHUHVLGXHRIWKHIOX[
3UHFDXWLRQVIRUXVLQ
J
FD
S
DFLWRUV
(QYLURQPHQWDOFRQGLWLRQV
&DSDFLWRUVVKRXOGQRWEHVWRUHGRUXVHGLQWKHIROORZLQJHQYLURQPHQWV
([SRVXUHWRWHPSHUDWXUHVDERYHWKHXSSHUFDWHJRU\RUEHORZWKHORZHUFDWHJRU\WHPSHUDWXUHRIWKHFDSDFLWRU
'LUHFWFRQWDFWZLWKZDWHUVDOWZDWHURURLO
+LJKKXPLGLW\FRQGLWLRQVZKHUHZDWHUFRXOGFRQGHQVHRQWKHFDSDFLWRU
([SRVXUHWRWR[LFJDVHVVXFKDVK\GURJHQVXOILGHVXOIXULFDFLGQLWULFDFLGFKORULQHFKORULQHFRPSRXQG
EURPLQHEURPLQHFRPSRXQGRUDPPRQLD
([SRVXUHWRR]RQHUDGLDWLRQRUXOWUDYLROHWUD\V
9LEUDWLRQDQGVKRFNFRQGLWLRQVH[FHHGLQJVSHFLILHGUHTXLUHPHQWV
(YHQZLWKLQWKHV
S
HFLILHGUH
T
XLUHPHQWVDODU
J
HYLEUDWLRQDFFHOHUDWLRQPD
\
EHD
SS
OLHGGXHWRUHVRQDQFH
VREHVXUHWRHYDOXDWHDQGFRQILUPZLWKWKHDFWXDO
S
URGXFW
(OHFWULFDOSUHFDXWLRQV
$YRLGWRXFKLQJWKHWHUPLQDOVRIDFDSDFLWRUDVDSRVVLEOHHOHFWULFVKRFNFRXOGUHVXOW7KHH[SRVHG
DOXPLQXPFDVHLVQRWLQVXODWHGDQGFRXOGDOVRFDXVHHOHFWULFVKRFNLIWRXFKHG
$YRLGVKRUWFLUFXLWLQJWKHDUHDEHWZHHQWKHFDSDFLWRUWHUPLQDOVZLWKFRQGXFWLYHPDWHULDOVLQFOXGLQJOLTXLGV
VXFKDVDFLGVRUDONDOLQHVROXWLRQV
$ORZPROHFXODUZHLJKWVKLUR[DQHZKLFKLVLQFOXGHGLQDVLOLFRQPDWHULDOVKDOOFDXVHVDEQRUPDOHOHFWULFDO
FKDUDFWHULVWLFV
2FW
$OXPLQXP(OHFWURO\WLF&DSDFLWRUV5DGLDOOHDG7\SH
(PHU
J
HQF
\
S
URFHGXUHV
,IWKH
S
UHVVXUHUHOLHIRIWKHFD
S
DFLWRUR
S
HUDWHVLPPHGLDWHO
\
WXUQRIIWKHH
T
XL
S
PHQWDQGGLVFRQQHFWIURP
WKH
S
RZHUVRXUFH
7KLVZLOOPLQLPL]HDQDGGLWLRQDOGDPD
J
HFDXVHGE
\
WKHYD
S
RUL]LQ
J
HOHFWURO
\
WH
$YRLGFRQWDFWZLWKWKHHVFD
S
LQ
J
HOHFWURO
\
WH
J
DVZKLFKFDQH[FHHG&WHP
S
HUDWXUHV
,IHOHFWURO
\
WHRU
J
DVHQWHUVWKHH
\
HLPPHGLDWHO
\
IOXVKWKHH
\
HZLWKODU
J
HDPRXQWVRIZDWHU
,IHOHFWURO
\
WHRU
J
DVLVLQ
J
HVWHGE
\
PRXWK
J
DU
J
OHZLWKZDWHU
,IHOHFWURO
\
WHFRQWDFWVWKHVNLQZDVKZLWKVRD
S
DQGZDWHU
/RQ
J
WHUPVWRUD
J
H
岜/HDND
J
HFXUUHQWRIDFD
S
DFLWRULQFUHDVHVZLWKORQ
J
VWRUD
J
HWLPHV7KHDOXPLQXPR[LGHILOPGHWHULRUDWHVDVD
岜IXQFWLRQRIWHP
S
HUDWXUHDQGWLPH
岜,IXVHGZLWKRXWUHFRQGLWLRQLQ
J
DQDEQRUPDOO
\
KL
J
KFXUUHQWZLOOEHUH
T
XLUHGWRUHVWRUHWKHR[LGHILOP
岜7KLVVXU
J
HFXUUHQWFRXOGFDXVHWKHFLUFXLWRUWKHFD
S
DFLWRUWRIDLO
岜([
S
LUDWLRQGDWHLVPRQWKVIURPRXW
J
RLQ
J
LQV
S
HFWLRQGDWH
岜+RZHYHUH[
S
LUDWLRQGDWHIRUVHULHVZKLFKDUHQRWOLVWHGEHORZLVPRQWKVIURPRXW
J
RLQ
J
LQV
S
HFWLRQGDWH
)RUVWRUD
J
HFRQGLWLRQNHH
S
URRPWHP
S
HUDWXUH
&WR&
DQGKXPLGLW
\
WR
ZKHUHGLUHFW
VXQVKLQHGRHVQWUHDFK
قك(QYLURQPHQWDO&RQGLWLRQV
'RQRWVWRUHXQGHUFRQGLWLRQRXWVLGHWKHDUHDGHVFULEHGLQWKHV
S
HFLILFDWLRQDQGDOVRXQGHUFRQGLWLRQVOLVWHG
EHORZ
D
([
S
RVXUHWRWHP
S
HUDWXUHVDERYHWKHX
SS
HUFDWH
J
RU
\
RUEHORZWKHORZHUFDWH
J
RU
\
WHP
S
HUDWXUHRIWKH
FD
S
DFLWRU
E
'LUHFWFRQWDFWZLWKZDWHUVDOWZDWHURURLO
F
+L
J
KKXPLGLW
\
FRQGLWLRQVZKHUHZDWHUFRXOGFRQGHQVHRQWKHFD
S
DFLWRU
G
([
S
RVXUHWRWR[LF
J
DVHVVXFKDVK
\
GUR
J
HQVXOILGHVXOIXULFDFLGQLWULFDFLGFKORULQH&KORULQHFRP
S
RXQG
岜%URPLQH%URPLQHFRP
S
RXQGRUDPPRQLD
H
([
S
RVXUHWRR]RQHUDGLDWLRQRUXOWUDYLROHWUD
\
V
I
9LEUDWLRQDQGVKRFNFRQGLWLRQVH[FHHGLQ
J
V
S
HFLILHGUH
T
XLUHPHQWV
&D
S
DFLWRUGLV
S
RVDO
:KHQGLV
S
RVLQ
J
FD
S
DFLWRUVXVHRQHRIWKHIROORZLQ
J
PHWKRGV
,QFLQHUDWHDIWHUFUXVKLQ
J
WKHFD
S
DFLWRURU
S
XQFWXULQ
J
WKHFDQZDOO
WR
S
UHYHQWH[
S
ORVLRQGXHWRLQWHUQDO
S
UHVVXUHULVH
'LV
S
RVHDVVROLGZDVWH
127(/RFDOODZVPD
\
KDYHV
S
HFLILFGLV
S
RVDOUH
T
XLUHPHQWVZKLFKPXVWEHIROORZHG
2FW
6HULHV ([SLUDWLRQGDWH

PRQ
WK
V
I
URP
RXWJRLQJ
LQ
VSHFW
L
R
Q
GDWH
)&).+'7$73
7KHSUHFDXWLRQVLQXVLQJDOXPLQXPHOHFWURO\WLFFDSDFLWRUVIROORZWKH6DIHW\DSSOLFDWLRQJXLGH
IRUWKHXVHLQIL[HGDOXPLQXPHOHFWURO\WLFFDSDFLWRUVIRUHOHFWURQLFHTXLSPHQW5&5'
LVVXHGE\-(,7$LQ2FWREHU
3OHDVHUHIHUWRWKHDERYHDSSOLFDWLRQJXLGHIRUGHWDLOV