Press Alt + R to read the document text or Alt + P to download or print.

No preview available

The URL can be used to link to this page

Home My WebLink AboutContract/E^dZhdKZ'ZDEd&KZ 'zDE^d/^>^^^ d,/^'ZDEd͕ĚĂƚĞĚ ĨŽƌƌĞĨĞƌĞŶĐĞƉƵƌƉŽƐĞƐŽŶůǇĂƐ :ĂŶƵĂƌǇϭ͕ϮϬϮϱ͕ ŝƐďǇ ĂŶĚďĞƚǁĞĞŶƚŚĞ ŝƚǇŽĨZĞŶƚŽŶ;ƚŚĞ͞ŝƚǇ͟Ϳ͕ĂtĂƐŚŝŶŐƚŽŶŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶ͕ĂŶĚ ZŽĂĐŚ'ǇŵŶĂƐƚŝĐƐĂŶĚ ^ƚƌĞŶŐƚŚ͕>> ;͞ŽŶƐƵůƚĂŶƚ͟Ϳ͕ Ă tĂƐŚŝŶŐƚŽŶ ůŵŝƚĞĚůŝĂďŝůŝƚǇĐŽŵƉĂŶǇ͘dŚĞŝƚǇĂŶĚƚŚĞŽŶƐƵůƚĂŶƚ ĂƌĞƌĞĨĞƌƌĞĚƚŽĐŽůůĞĐƚŝǀĞůǇŝŶƚŚŝƐŐƌĞĞŵĞŶƚĂƐƚŚĞ͞WĂƌƚŝĞƐ͘͟KŶĐĞĨƵůůǇĞǆĞĐƵƚĞĚďǇƚŚĞWĂƌƚŝĞƐ͕ ƚŚŝƐŐƌĞĞŵĞŶƚŝƐ ĞĨĨĞĐƚŝǀĞĂƐŽĨƚŚĞůĂƐƚĚĂƚĞƐŝŐŶĞĚďǇďŽƚŚƉĂƌƚŝĞƐ͘ ϭ͘ ^ĐŽƉĞŽĨtŽƌŬ͗ŽŶƐƵůƚĂŶƚĂŐƌĞĞƐƚŽƉƌŽǀŝĚĞǁĞĞŬůǇŐǇŵŶĂƐƚŝĐƐĐůĂƐƐĞƐ ĂƐ ƐƉĞĐŝĨŝĞĚŝŶ ǆŚŝďŝƚ ;͞^ĐŽƉĞŽĨtŽƌŬ͟Ϳ͕ǁŚŝĐŚŝƐĂƚƚĂĐŚĞĚĂŶĚŝŶĐŽƌƉŽƌĂƚĞĚ ŚĞƌĞŝŶ ĂŶĚ ŵĂǇ ŚĞƌĞŝŶĂĨƚĞƌďĞƌĞĨĞƌƌĞĚƚŽĂƐƚŚĞ͞tŽƌŬ͘͟ Ϯ͘ ŚĂŶŐĞƐŝŶ^ĐŽƉĞŽĨtŽƌŬ͗ dŚĞŝƚǇ͕ǁŝƚŚŽƵƚŝŶǀĂůŝĚĂƚŝŶŐƚŚŝƐŐƌĞĞŵĞŶƚ͕ŵĂǇŽƌĚĞƌ ĐŚĂŶŐĞƐƚŽƚŚĞtŽƌŬĐŽŶƐŝƐƚŝŶŐŽĨĂĚĚŝƚŝŽŶƐ͕ĚĞůĞƚŝŽŶƐŽƌŵŽĚŝĨŝĐĂƚŝŽŶƐ͘ŶǇƐƵĐŚĐŚĂŶŐĞƐ ƚŽƚŚĞtŽƌŬƐŚĂůůďĞŽƌĚĞƌĞĚďǇƚŚĞŝƚǇŝŶǁƌŝƚŝŶŐĂŶĚ ƚŚĞŽŵƉĞŶƐĂƚŝŽŶƐŚĂůůďĞ ĞƋƵŝƚĂďůǇĂĚũƵƐƚĞĚĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞƌĂƚĞƐƐĞƚĨŽƌƚŚŝŶ ǆŚŝďŝ ƚŽƌĂƐŽƚŚĞƌǁŝƐĞŵƵƚƵĂůůǇ ĂŐƌĞĞĚďǇƚŚĞWĂƌƚŝĞƐ͘ ϯ͘dŝŵĞŽĨWĞƌĨŽƌŵĂŶĐĞ͗ŽŶƐƵůƚĂŶƚƐŚĂůůĐŽŵŵĞŶĐĞƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞŐƌĞĞŵĞŶƚŽŶƚŚĞ ĚĂƚĞƚŚŝƐĂŐƌĞĞŵĞŶƚŐŽĞƐŝŶƚŽĞĨĨĞĐƚ͘ůůtŽƌŬƐŚĂůůďĞƉĞƌĨŽƌŵĞĚďǇŶŽůĂƚĞƌƚŚĂŶ ĞĐĞŵďĞƌϯϭ͕ϮϬϮϱ͘ ϰ͘ ŽŵƉĞŶƐĂƚŝŽŶ͗ ͘ ŵŽƵŶƚ͘ dŽƚĂů ĐŽŵƉĞŶƐĂƚŝŽŶ ƚŽ ŽŶƐƵůƚĂŶƚ ĨŽƌ tŽƌŬ ƉƌŽǀŝĚĞĚ ƉƵƌƐƵĂŶƚ ƚŽ ƚŚŝƐ ŐƌĞĞŵĞŶƚƐŚĂůůŶŽƚĞǆĐĞĞĚ$40,000͕ƉůƵƐĂŶǇĂƉƉůŝĐĂďůĞƐƚĂƚĞĂŶĚůŽĐĂůƐĂůĞƐƚĂǆĞƐ͘ ŽŵƉĞŶƐĂƚŝŽŶƐŚĂůůďĞƉĂŝĚŽŶĂŵŽŶƚŚůǇďĂƐŝƐĂĐĐŽƌĚŝŶŐƚŽƚŚĞƌĂƚĞ;ƐͿŽƌĂŵŽƵŶƚƐ ƐƉĞĐŝĨŝĞĚŝŶǆŚŝďŝƚ, and ƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůďĞƐŽůĞůǇƌĞƐƉŽŶƐŝďůĞĨŽƌƉĂǇŵĞŶƚŽĨ ĂŶǇƚĂǆĞƐŝŵƉŽƐĞĚĂƐĂƌĞƐƵůƚŽĨƚŚĞƉĞƌĨŽƌŵĂŶĐĞĂŶĚƉĂǇŵĞŶƚŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ͘ DĞƚŚŽĚŽĨWĂǇŵĞŶƚ͘WĂƌƚŝĐŝƉĂŶƚƐĂŶĚƌĞƐŝĚĞŶƚƐǁŚŽƐŝŐŶƵƉĨŽƌƚŚĞĐŽƵƌƐĞƐĚĞƐĐƌŝďĞĚ ŝŶƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůƌĞŐŝƐƚĞƌŽŶůŝŶĞƵƐŝŶŐƚŚĞŝƚǇ͛ƐƌĞŐŝƐƚƌĂƚŝŽŶƐǇƐƚĞŵ yW>KZ ĂŶĚ ƉĂǇĨŽƌƚŚĞĐůĂƐƐĞƐŝŶĂĚǀĂŶĐĞ͘ŽŶƐƵůƚĂŶƚǁŝůůďĞƉĂŝĚĂƉĞƌĐĞŶƚĂŐĞŽĨĂůůƌĞŐŝƐƚƌĂƚŝŽŶ ĨĞĞƐĐŽůůĞĐƚĞĚďǇƚŚĞŝƚǇĐŽŶŶĞĐƚĞĚƚŽƚŚŝƐtŽƌŬĂƚĂƌĂƚĞĞƋƵŝǀĂůĞŶƚƚŽƐĞǀĞŶƚǇ;ϳϬйͿ ƉĞƌĐĞŶƚ ŽĨƚŚĞƌĂƚĞĐŚĂƌŐĞĚƚŽƌĞƐŝĚĞŶƚƉĂƌƚŝĐŝƉĂŶƚƐŵƵůƚŝƉůŝĞĚďǇƚŚĞŶƵŵďĞƌŽĨĂůů ƌĞŐŝƐƚĞƌĞĚƉĂƌƚŝĐŝƉĂŶƚƐ͘dŚĞŝƚǇǁŝůůĐƌĞĂƚĞĂŶŝŶǀŽŝĐĞďĂƐĞĚŽŶƚŚĞƚŽƚĂůĂŵŽƵŶƚŽĨ ƌĞƐŝĚĞŶƚƌĞŐŝƐƚƌĂƚŝŽŶĨĞĞƐĐŽůůĞĐƚĞĚĂƚƚŚĞĞŶĚŽĨĞĂĐŚĐĂůĞŶĚĂƌŵŽŶƚŚĂŶĚƉƌŽĐĞƐƐ ƚŚĞŝŶǀŽŝĐĞƚŚƌŽƵŐŚŝƚƐ&ŝŶĂŶĐĞĞƉĂƌƚŵĞŶƚ͘dŚĞŝƚǇǁŝůůƚŚĞŶƌĞŵŝƚƉĂǇŵĞŶƚƚŽƚŚĞ CAG-25-006 W'Ϯ K&ϭϮ ŽŶƐƵůƚĂŶƚĨŽƌĂůůtŽƌŬĂĐƚƵĂůůǇƉĞƌĨŽƌŵĞĚǁŝƚŚŝŶƚŚŝƌƚǇ;ϯϬͿĚĂǇƐŽĨƚŚĞĞŶĚŽĨĞĂĐŚ ĐĂůĞŶĚĂƌŵŽŶƚŚ͘ ŽŶƐƵůƚĂŶƚ ƐŚĂůů ŶŽƚ ĂĐĐĞƉƚ ĂĚĚŝƚŝŽŶĂů ƉĂǇŵĞŶƚ ĨƌŽŵ ĂŶǇ ŽƚŚĞƌ ƉĂƌƚǇ͘ /Ĩ ƚŚĞ ŽŶƐƵůƚĂŶƚ͛ƐƉĞƌĨŽƌŵĂŶĐĞĚŽĞƐŶŽƚŵĞĞƚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͕ƚŚĞ ŽŶƐƵůƚĂŶƚǁŝůůĐŽƌƌĞĐƚŽƌŵŽĚŝĨǇŝƚƐƉĞƌĨŽƌŵĂŶĐĞƚŽĐŽŵƉůǇǁŝƚŚƚŚĞŐƌĞĞŵĞŶƚ͘dŚĞ ŝƚǇŵĂǇǁŝƚŚŚŽůĚ ƉĂǇŵĞŶƚĨŽƌǁŽƌŬƚŚĂƚĚŽĞƐŶŽƚŵĞĞƚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚŝƐ ŐƌĞĞŵĞŶƚ͘ ͘ ĨĨĞĐƚŽĨWĂǇŵĞŶƚ͘WĂǇŵĞŶƚĨŽƌĂŶǇƉĂƌƚŽĨƚŚĞtŽƌŬƐŚĂůůŶŽƚĐŽŶƐƚŝƚƵƚĞĂǁĂŝǀĞƌďǇ ƚŚĞ ŝƚǇ ŽĨ ĂŶǇ ƌĞŵĞĚŝĞƐ ŝƚ ŵĂǇ ŚĂǀĞ ĂŐĂŝŶƐƚ ƚŚĞ ŽŶƐƵůƚĂŶƚ ĨŽƌĨĂŝůƵƌĞŽĨƚŚĞ ŽŶƐƵůƚĂŶƚ ƚŽ ƉĞƌĨŽƌŵ ƚŚĞ tŽƌŬ Žƌ ĨŽƌ ĂŶǇ ďƌĞĂĐŚ ŽĨ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ďǇ ƚŚĞ ŽŶƐƵůƚĂŶƚ͘ ͘ EŽŶͲƉƉƌŽƉƌŝĂƚŝŽŶŽĨ&ƵŶĚƐ͘/ĨƐƵĨĨŝĐŝĞŶƚĨƵŶĚƐĂƌĞŶŽƚĂƉƉƌŽƉƌŝĂƚĞĚŽƌĂůůŽĐĂƚĞĚĨŽƌ ƉĂǇŵĞŶƚƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚĨŽƌĂŶǇĨƵƚƵƌĞĨŝƐĐĂůƉĞƌŝŽĚ͕ƚŚĞŝƚǇƐŚĂůůŶŽƚďĞ ŽďůŝŐĂƚĞĚƚŽŵĂŬĞƉĂǇŵĞŶƚƐĨŽƌtŽƌŬ ŽƌĂŵŽƵŶƚƐŝŶĐƵƌƌĞĚĂĨƚĞƌƚŚĞĞŶĚŽĨƚŚĞ ĐƵƌƌĞŶƚĨŝƐĐĂůƉĞƌŝŽĚ͕ĂŶĚƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůƚĞƌŵŝŶĂƚĞƵƉŽŶƚŚĞĐŽŵƉůĞƚŝŽŶŽĨĂůů ƌĞŵĂŝŶŝŶŐtŽƌŬ ĨŽƌǁŚŝĐŚĨƵŶĚƐĂƌĞĂůůŽĐĂƚĞĚ͘EŽƉĞŶĂůƚǇŽƌĞǆƉĞŶƐĞƐŚĂůůĂĐĐƌƵĞƚŽ ƚŚĞŝƚǇŝŶƚŚĞĞǀĞŶƚƚŚŝƐƉƌŽǀŝƐŝŽŶĂƉƉůŝĞƐ͘ ϱ͘ dĞƌŵŝŶĂƚŝŽŶ͗ ͘ dŚĞŝƚǇƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽƚĞƌŵŝŶĂƚĞƚŚŝƐŐƌĞĞŵĞŶƚĂƚĂŶǇƚŝŵĞ͕ǁŝƚŚŽƌǁŝƚŚŽƵƚ ĐĂƵƐĞďǇŐŝǀŝŶŐƚĞŶ;ϭϬͿĐĂůĞŶĚĂƌĚĂǇƐ͛ŶŽƚŝĐĞƚŽƚŚĞŽŶƐƵůƚĂŶƚŝŶǁƌŝƚŝŶŐ͘/ŶƚŚĞĞǀĞŶƚ ŽĨƐƵĐŚƚĞƌŵŝŶĂƚŝŽŶŽƌƐƵƐƉĞŶƐŝŽŶ͕ĂůůĨŝŶŝƐŚĞĚŽƌƵŶĨŝŶŝƐŚĞĚĚŽĐƵŵĞŶƚƐ͕ĚĂƚĂ͕ƐƚƵĚŝĞƐ͕ ǁŽƌŬƐŚĞĞƚƐ͕ ŵŽĚĞůƐ ĂŶĚ ƌĞƉŽƌƚƐ͕ Žƌ ŽƚŚĞƌ ŵĂƚĞƌŝĂů ƉƌĞƉĂƌĞĚ ďǇ ƚŚĞ ŽŶƐƵůƚĂŶƚ ƉƵƌƐƵĂŶƚƚŽƚŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞ ƐƵďŵŝƚƚĞĚƚŽƚŚĞŝƚǇ͕ŝĨĂŶǇĂƌĞƌĞƋƵŝƌĞĚĂƐƉĂƌƚ ŽĨƚŚĞtŽƌŬ͘ ͘ /ŶƚŚĞĞǀĞŶƚƚŚŝƐŐƌĞĞŵĞŶƚŝƐƚĞƌŵŝŶĂƚĞĚďǇƚŚĞŝƚǇ͕ƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůďĞĞŶƚŝƚůĞĚ ƚŽƉĂǇŵĞŶƚĨŽƌĂůůŚŽƵƌƐǁŽƌŬĞĚƚŽƚŚĞĞĨĨĞĐƚŝǀĞĚĂƚĞŽĨƚĞƌŵŝŶ ĂƚŝŽŶ͕ůĞƐƐĂůůƉĂǇŵĞŶƚƐ ƉƌĞǀŝŽƵƐůǇŵĂĚĞ͘/ĨƚŚĞŐƌĞĞŵĞŶƚŝƐƚĞƌŵŝŶĂƚĞĚďǇƚŚĞŝƚǇ ĂĨƚĞƌƉĂƌƚŝĂůƉĞƌĨŽƌŵĂŶĐĞ ŽĨtŽƌŬĨŽƌǁŚŝĐŚƚŚĞĂŐƌĞĞĚĐŽŵƉĞŶƐĂƚŝŽŶŝƐ ĂĨŝǆĞĚĨĞĞ͕ƚŚĞŝƚǇƐŚĂůůƉĂǇƚŚĞ ŽŶƐƵůƚĂŶƚĂŶĞƋƵŝƚĂďůĞƐŚĂƌĞŽĨƚŚĞĨŝǆĞĚĨĞĞ͘dŚŝƐƉƌŽǀŝƐŝŽŶƐŚĂůůŶŽƚƉƌĞǀĞŶƚƚŚĞ ŝƚǇĨƌŽŵƐĞĞŬŝŶŐĂŶǇůĞŐĂůƌĞŵĞĚŝĞƐŝƚŵĂǇŚĂǀĞĨŽƌƚŚĞǀŝŽůĂƚŝŽŶŽƌŶŽŶƉĞƌĨŽƌŵĂŶĐĞ ŽĨĂŶǇŽĨƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚĂŶĚƐƵĐŚĐŚĂƌŐĞƐĚƵĞƚŽƚŚĞŝƚǇƐŚĂůůďĞ ĚĞĚƵĐƚĞĚĨƌŽŵƚŚĞĨŝŶĂůƉĂǇŵĞŶƚĚƵĞƚŚĞŽŶƐƵůƚĂŶƚ͘EŽƉĂǇŵĞŶƚƐŚĂůůďĞŵĂĚĞďǇ ƚŚĞŝƚǇĨŽƌĂŶǇĞǆƉĞŶƐĞƐŝŶĐƵƌƌĞĚŽƌǁŽƌŬĚŽŶĞĨŽůůŽǁŝŶŐƚŚĞĞĨĨĞĐƚŝǀĞĚĂƚĞŽĨ ƚĞƌŵŝŶĂƚŝŽŶƵŶůĞƐƐĂƵƚŚŽƌŝǌĞĚŝŶĂĚǀĂŶĐĞŝŶǁƌŝƚŝŶŐďǇƚŚĞŝƚǇ͘ W'ϯ K&ϭϮ ϲ͘ tĂƌƌĂŶƚŝĞƐŶĚZŝŐŚƚdŽhƐĞtŽƌŬWƌŽĚƵĐƚ͗ ŽŶƐƵůƚĂŶƚƌĞƉƌĞƐĞŶƚƐĂŶĚǁĂƌƌĂŶƚƐƚŚĂƚ ŽŶƐƵůƚĂŶƚ ǁŝůů ƉĞƌĨŽƌŵ Ăůů tŽƌŬ ŝĚĞŶƚŝĨŝĞĚ ŝŶ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ŝŶ Ă ƉƌŽĨĞƐƐŝŽŶĂů ĂŶĚ ǁŽƌŬŵĂŶůŝŬĞŵĂŶŶĞƌĂŶĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂůůƌĞĂƐŽŶĂďůĞĂŶĚƉƌŽĨĞƐƐŝŽŶĂůƐƚĂŶĚĂƌĚƐ ĂŶĚůĂǁƐ͘ ŽŵƉůŝĂŶĐĞǁŝƚŚƉƌŽĨĞƐƐŝŽŶĂůƐƚĂŶĚĂƌĚƐŝŶĐůƵĚĞƐ͕ĂƐĂƉƉůŝĐĂďůĞ͕ƉĞƌĨŽƌŵŝŶŐƚŚĞ tŽƌŬ ŝŶ ĐŽŵƉůŝĂŶĐĞ ǁŝƚŚ ĂƉƉůŝĐĂďůĞ ŝƚǇ ƐƚĂŶĚĂƌĚƐ Žƌ ŐƵŝĚĞůŝŶĞƐ͘ ŽŶƐƵůƚĂŶƚ ĨƵƌƚŚĞƌ ƌĞƉƌĞƐĞŶƚƐĂŶĚǁĂƌƌĂŶƚƐƚŚĂƚĂůůĨŝŶĂůǁŽƌŬƉƌŽĚƵĐƚĐƌĞĂƚĞĚĨŽƌĂŶĚĚĞůŝǀĞƌĞĚƚŽƚŚĞŝƚǇ ƉƵƌƐƵĂŶƚƚŽƚŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞƚŚĞŽƌŝŐŝŶĂůǁŽƌŬŽĨƚŚĞŽŶƐƵůƚĂŶƚ ĂŶĚĨƌĞĞĨƌŽŵĂŶǇ ŝŶƚĞůůĞĐƚƵĂůƉƌŽƉĞƌƚǇĞŶĐƵŵďƌĂŶĐĞǁŚŝĐŚǁŽƵůĚƌĞƐƚƌŝĐƚƚŚĞŝƚǇĨƌŽŵƵƐŝŶŐƚŚĞǁŽƌŬ ƉƌŽĚƵĐƚ͘ ŽŶƐƵůƚĂŶƚŐƌĂŶƚƐƚŽƚŚĞŝƚǇĂŶŽŶͲĞǆĐůƵƐŝǀĞ͕ƉĞƌƉĞƚƵĂůƌŝŐŚƚĂŶĚůŝĐĞŶƐĞƚŽƵƐĞ͕ ƌĞƉƌŽĚƵĐĞ͕ ĚŝƐƚƌŝďƵƚĞ͕ ĂĚĂƉƚ͕ ŵŽĚŝĨǇ͕ ĂŶĚ ĚŝƐƉůĂǇ Ăůů ĨŝŶĂů ǁŽƌŬ ƉƌŽĚƵĐƚ ƉƌŽĚƵĐĞĚ ƉƵƌƐƵĂŶƚƚŽƚŚŝƐŐƌĞĞŵĞŶƚ͘ dŚĞŝƚǇ͛ƐŽƌŽƚŚĞƌ͛ƐĂĚĂƉƚĂƚŝŽŶ͕ŵŽĚŝĨŝĐĂƚŝŽŶŽƌƵƐĞŽĨƚŚĞ ĨŝŶĂůǁŽƌŬƉƌŽĚƵĐƚƐŽƚŚĞƌƚŚĂŶĨŽƌƚŚĞƉƵƌƉŽƐĞƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞǁŝƚŚŽƵƚ ůŝĂďŝůŝƚǇƚŽƚŚĞŽŶƐƵůƚĂŶƚ͘dŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚŝƐƐĞĐƚŝŽŶƐŚĂůůƐƵƌǀŝǀĞƚŚĞĞǆƉŝƌĂƚŝŽŶŽƌ ƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϳ͘ ZĞĐŽƌĚ DĂŝŶƚĞŶĂŶĐĞ͗ dŚĞ ŽŶƐƵůƚĂŶƚ ƐŚĂůů ŵĂŝŶƚĂŝŶ ĂĐĐŽƵŶƚƐ ĂŶĚ ƌĞĐŽƌĚƐ͕ ǁŚŝĐŚ ƉƌŽƉĞƌůǇ ƌĞĨůĞĐƚ Ăůů ĚŝƌĞĐƚ ĂŶĚ ŝŶĚŝƌĞĐƚ ĐŽƐƚƐ ĞǆƉĞŶĚĞĚ ĂŶĚ tŽƌŬƉƌŽǀŝĚĞĚŝŶƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚŝƐŐƌĞĞŵĞŶƚ ĂŶĚ ƌĞƚĂŝŶƐƵĐŚƌĞĐŽƌĚƐĨŽƌĂƐůŽŶŐĂƐŵĂǇďĞƌĞƋƵŝƌĞĚďǇ ĂƉƉůŝĐĂďůĞtĂƐŚŝŶŐƚŽŶ^ƚĂƚĞƌĞĐŽƌĚƐƌĞƚĞŶƚŝŽŶůĂǁƐ͕ďƵƚŝŶĂŶǇĞǀĞŶƚŶŽůĞƐƐƚŚĂŶƐŝǆ ǇĞĂƌƐĂĨƚĞƌƚŚĞƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘dŚĞŽŶƐƵůƚĂŶƚĂŐƌĞĞƐƚŽƉƌŽǀŝĚĞĂĐĐĞƐƐ ƚŽĂŶĚĐŽƉŝĞƐŽĨĂŶǇƌĞĐŽƌĚƐƌĞůĂƚĞĚƚŽƚŚŝƐŐƌĞĞŵĞŶƚĂƐƌĞƋƵŝƌĞĚďǇƚŚĞŝƚǇƚŽĂƵĚŝƚ ĞǆƉĞŶĚŝƚƵƌĞƐĂŶĚĐŚĂƌŐĞƐĂŶĚͬŽƌƚŽĐŽŵƉůǇǁŝƚŚƚŚĞtĂƐŚŝŶŐƚŽŶ^ƚĂƚĞWƵďůŝĐZĞĐŽƌĚƐĐƚ ;ŚĂƉƚĞƌ ϰϮ͘ϱϲ ZtͿ͘ dŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ƚŚŝƐ ƐĞĐƚŝŽŶ ƐŚĂůů ƐƵƌǀŝǀĞ ƚŚĞ ĞǆƉŝƌĂƚŝŽŶ Žƌ ƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϴ͘ WƵďůŝĐZĞĐŽƌĚƐŽŵƉůŝĂŶĐĞ͗dŽƚŚĞĨƵůůĞǆƚĞŶƚƚŚĞŝƚǇĚĞƚĞƌŵŝŶĞƐŶĞĐĞƐƐĂƌǇƚŽĐŽŵƉůǇ ǁŝƚŚƚŚĞtĂƐŚŝŶŐƚŽŶ^ƚĂƚĞWƵďůŝĐZĞĐŽƌĚƐĐƚ͕ŽŶƐƵůƚĂŶƚƐŚĂůůŵĂŬĞĂĚƵĞĚŝůŝŐĞŶƚƐĞĂƌĐŚ ŽĨ Ăůů ƌĞĐŽƌĚƐ ŝŶ ŝƚƐ ƉŽƐƐĞƐƐŝŽŶ Žƌ ĐŽŶƚƌŽů ƌĞůĂƚŝŶŐƚŽ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ĂŶĚ ƚŚĞ tŽƌŬ͕ ŝŶĐůƵĚŝŶŐ͕ďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͕ĞͲŵĂŝů͕ĐŽƌƌĞƐƉŽŶĚĞŶĐĞ͕ŶŽƚĞƐ͕ƐĂǀĞĚƚĞůĞƉŚŽŶĞŵĞƐƐĂŐĞƐ͕ ƌĞĐŽƌĚŝŶŐƐ͕ƉŚŽƚŽƐ͕ŽƌĚƌĂǁŝŶŐƐĂŶĚƉƌŽǀŝĚĞƚŚĞŵƚŽƚŚĞŝƚǇĨŽƌƉƌŽĚƵĐƚŝŽŶ͘/ŶƚŚĞĞǀĞŶƚ ŽŶƐƵůƚĂŶƚ ďĞůŝĞǀĞƐ ƐĂŝĚ ƌĞĐŽƌĚƐ ŶĞĞĚ ƚŽ ďĞ ƉƌŽƚĞĐƚĞĚ ĨƌŽŵ ĚŝƐĐůŽƐƵƌĞ͕ ŝƚ ŵĂǇ͕ Ăƚ ŽŶƐƵůƚĂŶƚ͛ƐŽǁŶĞǆƉĞŶƐĞ͕ƐĞĞŬũƵĚŝĐŝĂůƉƌŽƚĞĐƚŝŽŶ͘ŽŶƐƵůƚĂŶƚƐŚĂůůŝŶĚĞŵŶŝĨǇ͕ĚĞĨĞŶĚ͕ ĂŶĚŚŽůĚŚĂƌŵůĞƐƐƚŚĞŝƚǇĨŽƌĂůůĐŽƐƚƐ͕ŝŶĐůƵĚŝŶŐĂƚƚŽƌŶĞǇƐ͛ĨĞĞƐ͕ĂƚƚĞŶĚĂŶƚƚŽĂŶǇĐůĂŝŵ ŽƌůŝƚŝŐĂƚŝŽŶƌĞůĂƚĞĚƚŽĂWƵďůŝĐZĞĐŽƌĚƐĐƚƌĞƋƵĞƐƚĨŽƌǁŚŝĐŚŽŶƐƵůƚĂŶƚŚĂƐƌĞƐƉŽŶƐŝǀĞ ƌĞĐŽƌĚƐĂŶĚĨŽƌǁŚŝĐŚŽŶƐƵůƚĂŶƚŚĂƐǁŝƚŚŚĞůĚƌĞĐŽƌĚƐŽƌŝŶĨŽƌŵĂƚŝŽŶĐŽŶƚĂŝŶĞĚƚŚĞƌĞŝŶ͕ Žƌ ŶŽƚ ƉƌŽǀŝĚĞĚ ƚŚĞŵ ƚŽ ƚŚĞ ŝƚǇ ŝŶ Ă ƚŝŵĞůǇ ŵĂŶŶĞƌ͘ ŽŶƐƵůƚĂŶƚƐŚĂůů ƉƌŽĚƵĐĞ ĨŽƌ ĚŝƐƚƌŝďƵƚŝŽŶĂŶǇĂŶĚĂůůƌĞĐŽƌĚƐƌĞƐƉŽŶƐŝǀĞƚŽƚŚĞWƵďůŝĐZĞĐŽƌĚƐĐƚƌĞƋƵĞƐƚŝŶĂƚŝŵĞůǇ ŵĂŶŶĞƌ͕ƵŶůĞƐƐƚŚŽƐĞƌĞĐŽƌĚƐĂƌĞƉƌŽƚĞĐƚĞĚďǇĐŽƵƌƚŽƌĚĞƌ͘ dŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚŝƐƐĞĐƚŝŽŶ ƐŚĂůůƐƵƌǀŝǀĞƚŚĞĞǆƉŝƌĂƚŝŽŶŽƌƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϵ͘ /ŶĚĞƉĞŶĚĞŶƚŽŶƚƌĂĐƚŽƌ ZĞůĂƚŝŽŶƐŚŝƉ͗ W'ϰ K&ϭϮ ͘ dŚĞŽŶƐƵůƚĂŶƚŝƐƌĞƚĂŝŶĞĚďǇƚŚĞŝƚǇŽŶůǇĨŽƌƚŚĞƉƵƌƉŽƐĞƐĂŶĚƚŽƚŚĞĞǆƚĞŶƚƐĞƚĨŽƌƚŚ ŝŶƚŚŝƐŐƌĞĞŵĞŶƚ͘dŚĞŶĂƚƵƌĞŽĨƚŚĞƌĞůĂƚŝŽŶƐŚŝƉďĞƚǁĞĞŶƚŚĞŽŶƐƵůƚĂŶƚĂŶĚƚŚĞŝƚǇ ĚƵƌŝŶŐ ƚŚĞ ƉĞƌŝŽĚ ŽĨ ƚŚĞ tŽƌŬ ƐŚĂůů ďĞ ƚŚĂƚ ŽĨ ĂŶ ŝŶĚĞƉĞŶĚĞŶƚ ĐŽŶƚƌĂĐƚŽƌ͕ ŶŽƚ ĞŵƉůŽǇĞĞ͘dŚĞŽŶƐƵůƚĂŶƚ͕ŶŽƚƚŚĞŝƚǇ͕ƐŚĂůůŚĂǀĞƚŚĞƉŽǁĞƌƚŽĐŽŶƚƌŽůĂŶĚĚŝƌĞĐƚƚŚĞ ĚĞƚĂŝůƐ͕ŵĂŶŶĞƌŽƌŵĞĂŶƐŽĨtŽƌŬ͘^ƉĞĐŝĨŝĐĂůůǇ͕ďƵƚŶŽƚďǇŵĞĂŶƐŽĨůŝŵŝƚĂƚŝŽŶ͕ƚŚĞ ŽŶƐƵůƚĂŶƚ ƐŚĂůů ŚĂǀĞ ŶŽ ŽďůŝŐĂƚŝŽŶ ƚŽ ǁŽƌŬ ĂŶǇ ƉĂƌƚŝĐƵůĂƌ ŚŽƵƌƐ Žƌ ƉĂƌƚŝĐƵůĂƌ ƐĐŚĞĚƵůĞ͕ƵŶůĞƐƐŽƚŚĞƌǁŝƐĞŝŶĚŝĐĂƚĞĚŝŶƚŚĞ^ĐŽƉĞŽĨtŽƌŬŽƌǁŚĞƌĞƐĐŚĞĚƵůŝŶŐŽĨ ĂƚƚĞŶĚĂŶĐĞŽƌƉĞƌĨŽƌŵĂŶĐĞŝƐŵƵƚƵĂůůǇĂƌƌĂŶŐĞĚĚƵĞƚŽƚŚĞŶĂƚƵƌĞŽĨƚŚĞtŽƌŬ͘ ŽŶƐƵůƚĂŶƚƐŚĂůůƌĞƚĂŝŶƚŚĞƌŝŐŚƚƚŽĚĞƐŝŐŶĂƚĞƚŚĞŵĞĂŶƐŽĨƉĞƌĨŽƌŵŝŶŐƚŚĞtŽƌŬ ĐŽǀĞƌĞĚďǇƚŚŝƐĂŐƌĞĞŵĞŶƚ͕ĂŶĚƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůďĞĞŶƚŝƚůĞĚƚŽĞŵƉůŽǇŽƚŚĞƌ ǁŽƌŬĞƌƐĂƚƐƵĐŚĐŽŵƉĞŶƐĂƚŝŽŶĂŶĚƐƵĐŚŽƚŚĞƌĐŽŶĚŝƚŝŽŶƐĂƐŝƚŵĂǇĚĞĞŵƉƌŽƉĞƌ͕ ƉƌŽǀŝĚĞĚ͕ŚŽǁĞǀĞƌ͕ƚŚĂƚĂŶǇĐŽŶƚƌĂĐƚƐŽŵĂĚĞďǇƚŚĞŽŶƐƵůƚĂŶƚŝƐƚŽďĞƉĂŝĚďǇŝƚ ĂůŽŶĞ͕ĂŶĚƚŚĂƚĞŵƉůŽǇŝŶŐƐƵĐŚǁŽƌŬĞƌƐ͕ŝƚŝƐĂĐƚŝŶŐŝŶĚŝǀŝĚƵĂůůǇĂŶĚŶŽƚĂƐĂŶĂŐĞŶƚ ĨŽƌƚŚĞŝƚǇ͘ ͘ dŚĞŝƚǇƐŚĂůůŶŽƚďĞƌĞƐƉŽŶƐŝďůĞĨŽƌǁŝƚŚŚŽůĚŝŶŐŽƌŽƚŚĞƌǁŝƐĞĚĞĚƵĐƚŝŶŐĨĞĚĞƌĂů ŝŶĐŽŵĞ ƚĂǆ Žƌ ^ŽĐŝĂů ^ĞĐƵƌŝƚǇ Žƌ ĐŽŶƚƌŝďƵƚŝŶŐ ƚŽ ƚŚĞ ^ƚĂƚĞ /ŶĚƵƐƚƌŝĂů /ŶƐƵƌĂŶĐĞ WƌŽŐƌĂŵ͕ŽƌŽƚŚĞƌǁŝƐĞĂƐƐƵŵŝŶŐƚŚĞĚƵƚŝĞƐŽĨĂŶĞŵƉůŽǇĞƌǁŝƚŚƌĞƐƉĞĐƚƚŽŽŶƐƵůƚĂŶƚ ŽƌĂŶǇĞŵƉůŽǇĞĞŽĨƚŚĞŽŶƐƵůƚĂŶƚ͘ ͘ /ĨƚŚĞŽŶƐƵůƚĂŶƚŝƐĂƐŽůĞƉƌŽƉƌŝĞƚŽƌƐŚŝƉŽƌŝĨƚŚŝƐŐƌĞĞŵĞŶƚŝƐǁŝƚŚĂŶŝŶĚŝǀŝĚƵĂů͕ƚŚĞ ŽŶƐƵůƚĂŶƚĂŐƌĞĞƐƚŽŶŽƚŝĨǇƚŚĞŝƚǇĂŶĚĐŽŵƉůĞƚĞĂŶǇƌĞƋƵŝƌĞĚĨŽƌŵŝĨƚŚĞŽŶƐƵůƚĂŶƚ ƌĞƚŝƌĞĚƵŶĚĞƌĂ^ƚĂƚĞŽĨtĂƐŚŝŶŐƚŽŶƌĞƚŝƌĞŵĞŶƚƐǇƐƚĞŵĂŶĚĂŐƌĞĞƐƚŽŝŶĚĞŵŶŝĨǇĂŶǇ ůŽƐƐĞƐƚŚĞŝƚǇŵĂǇƐƵƐƚĂŝŶƚŚƌŽƵŐŚƚŚĞŽŶƐƵůƚĂŶƚ͛ƐĨĂŝůƵƌĞƚŽĚŽƐŽ͘ ϭϬ͘ ,ŽůĚ,ĂƌŵůĞƐƐ͗ dŚĞŽŶƐƵůƚĂŶƚĂŐƌĞĞƐƚŽƌĞůĞĂƐĞ͕ŝŶĚĞŵŶŝĨǇ͕ĚĞĨĞŶĚ͕ĂŶĚŚŽůĚŚĂƌŵůĞƐƐ ƚŚĞŝƚǇ͕ĞůĞĐƚĞĚŽĨĨŝĐŝĂůƐ͕ĞŵƉůŽǇĞĞƐ͕ŽĨĨŝĐĞƌƐ͕ƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐ͕ĂŶĚǀŽůƵŶƚĞĞƌƐ ĨƌŽŵĂŶǇ ĂŶĚ Ăůů ĐůĂŝŵƐ͕ ĚĞŵĂŶĚƐ͕ ĂĐƚŝŽŶƐ͕ ƐƵŝƚƐ͕ ĐĂƵƐĞƐ ŽĨ ĂĐƚŝŽŶ͕ ĂƌďŝƚƌĂƚŝŽŶƐ͕ ŵĞĚŝĂƚŝŽŶƐ͕ ƉƌŽĐĞĞĚŝŶŐƐ͕ũƵĚŐŵĞŶƚƐ͕ĂǁĂƌĚƐ͕ŝŶũƵƌŝĞƐ͕ĚĂŵĂŐĞƐ͕ůŝĂďŝůŝƚŝĞƐ͕ƚĂǆĞƐ͕ůŽƐƐĞƐ͕ĨŝŶĞƐ͕ĨĞĞƐ͕ ƉĞŶĂůƚŝĞƐ͕ ĞǆƉĞŶƐĞƐ͕ĂƚƚŽƌŶĞǇ͛ƐŽƌĂƚƚŽƌŶĞǇƐ͛ĨĞĞƐ͕ĐŽƐƚƐ͕ĂŶĚͬŽƌůŝƚŝŐĂƚŝŽŶĞǆƉĞŶƐĞƐƚŽŽƌ ďǇĂŶǇĂŶĚĂůůƉĞƌƐŽŶƐŽƌĞŶƚŝƚŝĞƐ͕ĂƌŝƐŝŶŐĨƌŽŵ͕ƌĞƐƵůƚŝŶŐĨƌŽŵ͕ŽƌƌĞůĂƚĞĚƚŽƚŚĞ ŶĞŐůŝŐĞŶƚ ĂĐƚƐ͕ĞƌƌŽƌƐŽƌŽŵŝƐƐŝŽŶƐŽĨƚŚĞŽŶƐƵůƚĂŶƚŝŶŝƚƐƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚŝƐŐƌĞĞŵĞŶƚ ŽƌĂ ďƌĞĂĐŚŽĨƚŚŝƐŐƌĞĞŵĞŶƚďǇŽŶƐƵůƚĂŶƚ͕ĞǆĐĞƉƚĨŽƌƚŚĂƚƉŽƌƚŝŽŶŽĨƚŚĞĐůĂŝŵƐĐĂƵƐĞĚďǇ ƚŚĞŝƚǇ͛ƐƐŽůĞŶĞŐůŝŐĞŶĐĞ͘ ^ŚŽƵůĚĂĐŽƵƌƚŽĨĐŽŵƉĞƚĞŶƚũƵƌŝƐĚŝĐƚŝŽŶĚĞƚĞƌŵŝŶĞƚŚĂƚƚŚŝƐĂŐ ƌĞĞŵĞŶƚŝƐƐƵďũĞĐƚƚŽZt ϰ͘Ϯϰ͘ϭϭϱ͕;sĂůŝĚŝƚǇŽĨĂŐƌĞĞŵĞŶƚƚŽŝŶĚĞŵŶŝĨǇĂŐĂŝŶƐƚůŝĂďŝůŝƚǇĨŽƌŶĞŐůŝŐĞŶĐĞƌĞůĂƚŝǀĞƚŽ ĐŽŶƐƚƌƵĐƚŝŽŶ͕ĂůƚĞƌĂƚŝŽŶ͕ŝŵƉƌŽǀĞŵĞŶƚ͕ĞƚĐ͕͘ŽĨƐƚƌƵĐƚƵƌĞŽƌŝŵƉƌŽǀĞŵĞŶƚĂƚƚĂĐŚĞĚƚŽƌĞĂů ĞƐƚĂƚĞ͙ͿƚŚĞŶ͕ŝŶƚŚĞĞǀĞŶƚŽĨůŝĂďŝůŝƚǇĨŽƌĚĂŵĂŐĞƐĂƌŝƐŝŶŐŽƵƚŽĨďŽĚŝůǇŝŶũƵƌǇƚŽƉĞƌƐŽŶƐ ŽƌĚĂŵĂŐĞƐƚŽƉƌŽƉĞƌƚǇĐĂƵƐĞĚďǇŽƌƌĞƐƵůƚŝŶŐĨƌŽŵƚŚĞĐŽŶĐƵƌƌĞŶƚŶĞŐůŝŐĞŶĐĞŽĨƚŚĞ ŽŶƐƵůƚĂŶƚĂŶĚƚŚĞŝƚǇ͕ŝƚƐŽĨĨŝĐĞƌƐ͕ŽĨĨŝĐŝĂůƐ͕ĞŵƉůŽǇĞĞƐĂŶĚǀŽůƵŶƚĞĞƌƐ͕ŽŶƐƵůƚĂŶƚ͛Ɛ ůŝĂďŝůŝƚǇƐŚĂůůďĞŽŶůǇƚŽƚŚĞĞǆƚĞŶƚ ŽĨŽŶƐƵůƚĂŶƚ͛ƐŶĞŐůŝŐĞŶĐĞ͘ W'ϱ K&ϭϮ /ƚŝƐĨƵƌƚŚĞƌƐƉĞĐŝĨŝĐĂůůǇĂŶĚĞǆƉƌĞƐƐůǇƵŶĚĞƌƐƚŽŽĚƚŚĂƚƚŚĞŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶƉƌŽǀŝĚĞĚŝŶ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ĐŽŶƐƚŝƚƵƚĞ ŽŶƐƵůƚĂŶƚ͛Ɛ ǁĂŝǀĞƌ ŽĨ ŝŵŵƵŶŝƚǇ ƵŶĚĞƌ ƚŚĞ /ŶĚƵƐƚƌŝĂů /ŶƐƵƌĂŶĐĞĐƚ͕ZtdŝƚůĞϱϭ͕ƐŽůĞůǇĨŽƌƚŚĞƉƵƌƉŽƐĞƐŽĨƚŚŝƐŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ͘dŚĞWĂƌƚŝĞƐ ŚĂǀĞŵƵƚƵĂůůǇŶĞŐŽƚŝĂƚĞĚĂŶĚĂŐƌĞĞĚƚŽƚŚŝƐǁĂŝǀĞƌ͘dŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚŝƐƐĞĐƚŝŽŶƐŚĂůů ƐƵƌǀŝǀĞƚŚĞĞǆƉŝƌĂƚŝŽŶŽƌƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϭϭ͘ 'ŝĨƚƐĂŶĚŽŶĨůŝĐƚƐ͗dŚĞŝƚǇ͛ƐŽĚĞŽĨƚŚŝĐƐĂŶĚtĂƐŚŝŶŐƚŽŶ^ƚĂƚĞůĂǁƉƌŽŚŝďŝƚŝƚǇ ĞŵƉůŽǇĞĞƐĨƌŽŵƐŽůŝĐŝƚŝŶŐ͕ĂĐĐĞƉƚŝŶŐ͕ŽƌƌĞĐĞŝǀŝŶŐĂŶǇŐŝĨƚ͕ŐƌĂƚƵŝƚǇŽƌĨĂǀŽƌĨƌŽŵĂŶǇ ƉĞƌƐŽŶ͕ĨŝƌŵŽƌĐŽƌƉŽƌĂƚŝŽŶŝŶǀŽůǀĞĚŝŶĂĐŽŶƚƌĂĐƚŽƌƚƌĂŶƐĂĐƚŝŽŶ͘dŽĞŶƐƵƌĞĐŽŵƉůŝĂŶĐĞ ǁŝƚŚƚŚĞŝƚǇ͛ƐŽĚĞŽĨƚŚŝĐƐĂŶĚƐƚĂƚĞůĂǁ͕ƚŚĞŽŶƐƵůƚĂŶƚƐŚ ĂůůŶŽƚŐŝǀĞĂŐŝĨƚŽĨĂŶǇŬŝŶĚ ƚŽŝƚǇĞŵƉůŽǇĞĞƐŽƌŽĨĨŝĐŝĂůƐ͘ ŽŶƐƵůƚĂŶƚĂůƐŽĐŽŶĨŝƌŵƐƚŚĂƚŽŶƐƵůƚĂŶƚĚŽĞƐŶŽƚŚĂǀĞĂ ďƵƐŝŶĞƐƐŝŶƚĞƌĞƐƚŽƌĂĐůŽƐĞĨĂŵŝůǇƌĞůĂƚŝŽŶƐŚŝƉǁŝƚŚĂŶǇŝƚǇŽĨĨŝĐĞƌŽƌĞŵƉůŽǇĞĞǁŚŽǁĂƐ͕ ŝƐ͕ Žƌ ǁŝůů ďĞ ŝŶǀŽůǀĞĚ ŝŶ ƐĞůĞĐƚŝŶŐ ƚŚĞ ŽŶƐƵůƚĂŶƚ͕ ŶĞŐŽƚŝĂƚŝŶŐ Žƌ ĂĚŵŝŶŝƐƚĞƌŝŶŐ ƚŚŝƐ ŐƌĞĞŵĞŶƚ͕ Žƌ ĞǀĂůƵĂƚŝŶŐ ƚŚĞ ŽŶƐƵůƚĂŶƚ͛Ɛ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ tŽƌŬ͘ dŽ ĂǀŽŝĚ ƚŚĞ ĂƉƉĞĂƌĂŶĐĞŽĨĞƚŚŝĐĂůŝŵƉƌŽƉƌŝĞƚǇŽƌĂĐŽŶĨůŝĐƚŽĨŝŶƚĞƌĞƐƚ͕ŽŶƐƵůƚĂŶƚĂŐƌĞĞƐŶŽƚƚŽ ĂĐĐĞƉƚĂŶǇŐŝĨƚ͕ŐƌĂƚƵŝƚǇ͕ŽƌĨĂǀŽƌĨƌŽŵĂŶǇŽƚŚĞƌƉĂƌƚǇƐŽĂƐƚŽĐŽŵƉůǇǁŝƚŚƚŚŝƐƉƌŽǀŝƐŝŽŶ͘ ϭϮ͘ ŝƚǇ ŽĨ ZĞŶƚŽŶ ƵƐŝŶĞƐƐ >ŝĐĞŶƐĞ͗ hŶůĞƐƐ ĞǆĞŵƉƚĞĚ ďǇ ƚŚĞ ZĞŶƚŽŶ DƵŶŝĐŝƉĂů ŽĚĞ͕ ŽŶƐƵůƚĂŶƚƐŚĂůůŽďƚĂŝŶĂŝƚǇŽĨZĞŶƚŽŶƵƐŝŶĞƐƐ>ŝĐĞŶƐĞƉƌŝŽƌƚŽƉĞƌĨŽƌŵŝŶŐĂŶǇtŽƌŬ ĂŶĚ ŵĂŝŶƚĂŝŶ ƚŚĞ ďƵƐŝŶĞƐƐ ůŝĐĞŶƐĞ ŝŶ ŐŽŽĚ ƐƚĂŶĚŝŶŐ ƚŚƌŽƵŐŚŽƵƚ ƚŚĞ ƚĞƌŵ ŽĨ ƚŚŝƐ ĂŐƌĞĞŵĞŶƚǁŝƚŚƚŚĞŝƚǇ͘ /ŶĨŽƌŵĂƚŝŽŶƌĞŐĂƌĚŝŶŐĂĐƋƵŝƌŝŶŐĂĐŝƚǇďƵƐŝŶĞƐƐůŝĐĞŶƐĞ ĐĂŶďĞĨŽƵŶĚĂƚ͗ ŚƚƚƉƐ͗ͬͬǁǁǁ͘ƌĞŶƚŽŶǁĂ͘ŐŽǀͬdĂǆ /ŶĨŽƌŵĂƚŝŽŶƌĞŐĂƌĚŝŶŐ^ƚĂƚĞďƵƐŝŶĞƐƐůŝĐĞŶƐŝŶŐƌĞƋƵŝƌĞŵĞŶƚƐĐĂŶďĞĨŽƵŶĚĂƚ͗ ŚƚƚƉƐ͗ͬͬĚŽƌ͘ǁĂ͘ŐŽǀͬĚŽŝŶŐͲďƵƐŝŶĞƐƐͬƌĞŐŝƐƚĞƌͲŵǇͲďƵƐŝŶĞƐƐ ϭϯ͘ /ŶƐƵƌĂŶĐĞ͗ ŽŶƐƵůƚĂŶƚƐŚĂůůƐĞĐƵƌĞĂŶĚŵĂŝŶƚĂŝŶ͗ ͘ ŽŵŵĞƌĐŝĂůŐĞŶĞƌĂůůŝĂďŝůŝƚǇŝŶƐƵƌĂŶĐĞŝŶƚŚĞŵŝŶŝŵƵŵĂŵŽƵŶƚƐŽĨΨϭ͕ϬϬϬ͕ϬϬϬĨŽƌ ĞĂĐŚŽĐĐƵƌƌĞŶĐĞͬΨϮ͕ϬϬϬ͕ϬϬϬĂŐŐƌĞŐĂƚĞĨŽƌƚŚĞdĞƌŵŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ͘ /Ŷ ƚŚĞ ĞǀĞŶƚ ƚŚĂƚ tŽƌŬ ĚĞůŝǀĞƌĞĚ ƉƵƌƐƵĂŶƚ ƚŽ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ĞŝƚŚĞƌ ĚŝƌĞĐƚůǇ Žƌ ŝŶĚŝƌĞĐƚůǇŝŶǀŽůǀĞŽƌƌĞƋƵŝƌĞWƌŽĨĞƐƐŝŽŶĂů^ĞƌǀŝĐĞƐ͕WƌŽĨĞƐƐŝŽŶĂů>ŝĂďŝůŝƚǇ͕ƌƌŽƌƐĂŶĚ KŵŝƐƐŝŽŶƐ ĐŽǀĞƌĂŐĞ ƐŚĂůů ďĞ ƉƌŽǀŝĚĞĚ ǁŝƚŚ ŵŝŶŝŵƵŵ ůŝŵŝƚƐ ŽĨ Ψϭ͕ϬϬϬ͕ϬϬϬ ƉĞƌ ŽĐĐƵƌƌĞŶĐĞ͘ΗWƌŽĨĞƐƐŝŽŶĂů^ĞƌǀŝĐĞƐΗ͕ ĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨƚŚŝƐƐĞĐƚŝŽŶ͕ƐŚĂůůŵĞĂŶĂŶǇ tŽƌŬ ƉƌŽǀŝĚĞĚ ďǇ Ă ůŝĐĞŶƐĞĚ ƉƌŽĨĞƐƐŝŽŶĂů Žƌ tŽƌŬ ƚŚĂƚ ƌĞƋƵŝƌĞƐ Ă ƉƌŽĨĞƐƐŝŽŶĂů ƐƚĂŶĚĂƌĚŽĨĐĂƌĞ͘ W'ϲ K&ϭϮ ͘ tŽƌŬĞƌƐ͛ĐŽŵƉĞŶƐĂƚŝŽŶĐŽǀĞƌĂŐĞ͕ĂƐƌĞƋƵŝƌĞĚďǇƚŚĞ/ŶĚƵƐƚƌŝĂů/ŶƐƵƌĂŶĐĞůĂǁƐŽĨƚŚĞ ^ƚĂƚĞŽĨtĂƐŚŝŶŐƚŽŶ͕ƐŚĂůůĂůƐŽďĞƐĞĐƵƌĞĚ͘ ͘ ŽŵŵĞƌĐŝĂůƵƚŽŵŽďŝůĞ>ŝĂďŝůŝƚǇĨŽƌŽǁŶĞĚ͕ůĞĂƐĞĚ͕ŚŝƌĞĚŽƌŶŽŶͲŽǁŶĞĚ͕ůĞĂƐĞĚ͕ŚŝƌĞĚ ŽƌŶŽŶͲŽǁŶĞĚ͕ǁŝƚŚŵŝŶŝŵƵŵůŝŵŝƚƐŽĨΨϭ͕ϬϬϬ͕ϬϬϬƉĞƌŽĐĐƵƌƌĞŶĐĞĐŽŵďŝŶĞĚƐŝŶŐůĞ ůŝŵŝƚ͕ŝĨƚŚĞƌĞǁŝůůďĞĂŶǇƵƐĞŽĨŽŶƐƵůƚĂŶƚ͛ƐǀĞŚŝĐůĞƐŽŶƚŚĞŝƚǇ͛ƐWƌĞŵŝƐĞƐďǇŽƌŽŶ ďĞŚĂůĨŽĨƚŚĞŝƚǇ͕ďĞǇŽŶĚŶŽƌŵĂůĐŽŵŵƵƚĞƐ͘ ͘ ŽŶƐƵůƚĂŶƚƐŚĂůůŶĂŵĞƚŚĞŝƚǇĂƐĂŶĚĚŝƚŝŽŶĂů/ŶƐƵƌĞĚŽŶŝƚƐĐŽŵŵĞƌĐŝĂůŐĞŶĞƌĂů ůŝĂďŝůŝƚǇƉŽůŝĐǇŽŶĂŶŽŶͲĐŽŶƚƌŝďƵƚŽƌǇƉƌŝŵĂƌǇďĂƐŝƐ͘dŚĞŝƚǇ͛ƐŝŶƐƵƌĂŶĐĞƉŽůŝĐŝĞƐƐŚĂůů ŶŽƚďĞĂƐŽƵƌĐĞĨŽƌƉĂǇŵĞŶƚŽĨĂŶǇŽŶƐƵůƚĂŶƚůŝĂďŝůŝƚǇ͕ŶŽƌƐŚĂůůƚŚĞŵĂŝŶƚĞŶĂŶĐĞŽĨ ĂŶǇ ŝŶƐƵƌĂŶĐĞ ƌĞƋƵŝƌĞĚ ďǇ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ďĞ ĐŽŶƐƚƌƵĞĚ ƚŽ ůŝŵŝƚƚŚĞ ůŝĂďŝůŝƚǇ ŽĨ ŽŶƐƵůƚĂŶƚƚŽƚŚĞĐŽǀĞƌĂŐĞƉƌŽǀŝĚĞĚďǇƐƵĐŚŝŶƐƵƌĂŶĐĞŽƌŽƚŚĞƌǁŝƐĞůŝŵŝƚƚŚĞŝƚǇ͛Ɛ ƌĞĐŽƵƌƐĞƚŽĂŶǇƌĞŵĞĚǇĂǀĂŝůĂďůĞĂƚůĂǁŽƌŝŶĞƋƵŝƚǇ͘ &͘ ^ƵďũĞĐƚƚŽƚŚĞŝƚǇ͛ƐƌĞǀŝĞǁĂŶĚĂĐĐĞƉƚĂŶĐĞ͕ĂĐĞƌƚŝĨŝĐĂƚĞŽĨŝŶƐƵƌĂŶĐĞƐŚŽǁŝŶŐƚŚĞ ƉƌŽƉĞƌĞŶĚŽƌƐĞŵĞŶƚƐ͕ƐŚĂůůďĞĚĞůŝǀĞƌĞĚƚŽƚŚĞŝƚǇďĞĨŽƌĞƉĞƌĨŽƌŵŝŶŐƚŚĞtŽƌŬ͘ '͘ ŽŶƐƵůƚĂŶƚƐŚĂůůƉƌŽǀŝĚĞƚŚĞŝƚǇǁŝƚŚǁƌŝƚƚĞŶŶŽƚŝĐĞŽĨĂŶǇƉŽůŝĐǇĐĂŶĐĞůůĂƚŝŽŶ͕ǁŝƚŚŝŶ ƚǁŽ;ϮͿďƵƐŝŶĞƐƐĚĂǇƐŽĨƚŚĞŝƌƌĞĐĞŝƉƚŽĨƐƵĐŚŶŽƚŝĐĞ͘ ϭϰ͘ ĞůĂǇƐ͗ ŽŶƐƵůƚĂŶƚ ŝƐ ŶŽƚ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ĚĞůĂǇƐ ĐĂƵƐĞĚ ďǇ ĨĂĐƚŽƌƐ ďĞǇŽŶĚ ƚŚĞ ŽŶƐƵůƚĂŶƚ͛ƐƌĞĂƐŽŶĂďůĞĐŽŶƚƌŽů͘tŚĞŶƐƵĐŚĚĞůĂǇƐďĞǇŽŶĚƚŚĞŽŶƐƵůƚĂŶƚ͛ƐƌĞĂƐŽŶĂďůĞ ĐŽŶƚƌŽůŽĐĐƵƌ͕ƚŚĞŝƚǇĂŐƌĞĞƐƚŚĞŽŶƐƵůƚĂŶƚŝƐŶŽƚƌĞƐƉŽŶƐŝďůĞĨŽƌĚĂŵĂŐĞƐ͕ŶŽƌƐŚĂůůƚŚĞ ŽŶƐƵůƚĂŶƚďĞĚĞĞŵĞĚƚŽďĞŝŶĚĞĨĂƵůƚŽĨƚŚĞŐƌĞĞŵĞŶƚ͘ ϭϱ͘ ^ƵĐĐĞƐƐŽƌƐĂŶĚƐƐŝŐŶƐ͗ EĞŝƚŚĞƌƚŚĞŝƚǇŶŽƌƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůĂƐƐŝŐŶ͕ƚƌĂŶƐĨĞƌŽƌ ĞŶĐƵŵďĞƌĂŶǇƌŝŐŚƚƐ͕ĚƵƚŝĞƐŽƌŝŶƚĞƌĞƐƚƐĂĐĐƌƵŝŶŐĨƌŽŵƚŚŝƐŐƌĞĞŵĞŶƚ ǁŝƚŚŽƵƚ ƚŚĞ ǁƌŝƚƚĞŶĐŽŶƐĞŶƚŽĨƚŚĞŽƚŚĞƌ͘ ϭϲ͘ EŽƚŝĐĞƐ͗ ŶǇŶŽƚŝĐĞƌĞƋƵŝƌĞĚƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůďĞŝŶǁƌŝƚŝŶŐ͕ĂĚĚƌĞƐƐĞĚƚŽƚŚĞ ĂƉƉƌŽƉƌŝĂƚĞƉĂƌƚǇĂƚƚŚĞĂĚĚƌĞƐƐǁŚŝĐŚĂƉƉĞĂƌƐďĞůŽǁ;ĂƐŵŽĚŝĨŝĞĚŝŶǁƌŝƚŝŶŐĨƌŽŵƚŝŵĞ ƚŽƚŝŵĞďǇƐƵĐŚƉĂƌƚǇͿ͕ĂŶĚŐŝǀĞŶƉĞƌƐŽŶĂůůǇ͕ďǇƌĞŐŝƐƚĞƌĞĚŽƌĐĞƌƚŝĨŝĞĚŵĂŝů͕ƌĞƚƵƌŶƌĞĐĞŝƉƚ ƌĞƋƵĞƐƚĞĚ͕ŽƌďǇŶĂƚŝŽŶĂůůǇƌĞĐŽŐŶŝǌĞĚŽǀĞƌŶŝŐŚƚĐŽƵƌŝĞƌƐĞƌǀŝĐĞ͘dŝŵĞƉĞƌŝŽĚĨŽƌŶŽƚŝĐĞƐ ƐŚĂůůďĞĚĞĞŵĞĚƚŽŚĂǀĞĐŽŵŵĞŶĐĞĚƵƉŽŶƚŚĞĚĂƚĞŽĨƌĞĐĞŝƉƚ͘ ŵĂŝůĂŶĚƚĞůĞƉŚŽŶĞŵĂǇ ďĞƵƐĞĚĨŽƌƉƵƌƉŽƐĞƐŽĨĂĚŵŝŶŝƐƚĞƌŝŶŐƚŚĞŐƌĞĞŵĞŶƚďƵƚ ƐŚŽƵůĚŶŽƚďĞƵƐĞĚƚŽŐŝǀĞĂŶǇ ĨŽƌŵĂůŶŽƚŝĐĞƌĞƋƵŝƌĞĚďǇƚŚĞŐƌĞĞŵĞŶƚ͘ W'ϳ K&ϭϮ /dzK&ZEdKE ,ĂŶŶĂŝůůŝŶŐŚĂŵ ϭϬϱϱ^ŽƵƚŚ'ƌĂĚǇtĂǇ ZĞŶƚŽŶ͕tϵϴϬϱϳ WŚŽŶĞ͗;ϰϮϱͿϰϯϬͲϲϳϮϬ ŚĚŝůůŝŶŐŚĂŵΛƌĞŶƚŽŶǁĂ͘ŐŽǀ KE^h>dEd DĞůĂŶŝĞZŽĂĐŚ ϳϱϭϭϭϴϱƚŚǀĞĂƐƚ ŽŶŶĞǇ>ĂŬĞ͕tϵϴϯϵϭ WŚŽŶĞ͗;ϮϱϯͿϯϰϳͲϲϳϬϮ ŽůǇŵƉŝĐĂŐĞŶƚΛĐŽŵĐĂƐƚ͘ŶĞƚ ϭϳ͘ ŝƐĐƌŝŵŝŶĂƚŝŽŶWƌŽŚŝďŝƚĞĚ͗ǆĐĞƉƚƚŽƚŚĞĞǆƚĞŶƚƉĞƌŵŝƚƚĞĚďǇĂďŽŶĂĨŝĚĞŽĐĐƵƉĂƚŝŽŶĂů ƋƵĂůŝĨŝĐĂƚŝŽŶ͕ƚŚĞŽŶƐƵůƚĂŶƚĂŐƌĞĞƐĂƐĨŽůůŽǁƐ͗ ͘ ŽŶƐƵůƚĂŶƚ͕ ĂŶĚ ŽŶƐƵůƚĂŶƚ͛Ɛ ĂŐĞŶƚƐ͕ ĞŵƉůŽǇĞĞƐ͕ ƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐ͕ ĂŶĚ ǀŽůƵŶƚĞĞƌƐ ǁŝƚŚƌĞŐĂƌĚƚŽƚŚĞtŽƌŬ ƉĞƌĨŽƌŵĞĚŽƌƚŽďĞƉĞƌĨŽƌŵĞĚƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚ͕ƐŚĂůů ŶŽƚĚŝƐĐƌŝŵŝŶĂƚĞŽŶƚŚĞďĂƐŝƐŽĨƌĂĐĞ͕ĐŽůŽƌ͕ƐĞǆ͕ƌĞůŝŐŝŽŶ͕ŶĂƚŝŽŶĂůŝƚǇ͕ĐƌĞĞĚ͕ŵĂƌŝƚĂů ƐƚĂƚƵƐ͕ƐĞǆƵĂůŽƌŝĞŶƚĂƚŝŽŶŽƌƉƌĞĨĞƌĞŶĐĞ͕ĂŐĞ;ĞǆĐĞƉƚŵŝŶŝŵƵŵĂŐĞĂŶĚƌĞƚŝƌĞŵĞŶƚ ƉƌŽǀŝƐŝŽŶƐͿ͕ŚŽŶŽƌĂďůǇĚŝƐĐŚĂƌŐĞĚǀĞƚĞƌĂŶŽƌŵŝůŝƚĂƌǇƐƚĂƚƵƐ͕ŽƌƚŚĞƉƌĞƐĞŶĐĞŽĨĂŶǇ ƐĞŶƐŽƌǇ͕ŵĞŶƚĂůŽƌƉŚǇƐŝĐĂůŚĂŶĚŝĐĂƉ͕ƵŶůĞƐƐďĂƐĞĚƵƉŽŶĂďŽŶĂĨŝĚĞŽĐĐƵƉĂƚŝŽŶĂů ƋƵĂůŝĨŝĐĂƚŝŽŶŝŶƌĞůĂƚŝŽŶƐŚŝƉƚŽŚŝƌŝŶŐĂŶĚĞŵƉůŽǇŵĞŶƚ͕ŝŶĞŵƉůŽǇŵĞŶƚŽƌĂƉƉůŝĐĂƚŝŽŶ ĨŽƌĞŵƉůŽǇŵĞŶƚ͕ƚŚĞĂĚŵŝŶŝƐƚƌĂƚŝŽŶŽĨƚŚĞĚĞůŝǀĞƌǇŽĨtŽƌŬ ŽƌĂŶǇŽƚŚĞƌďĞŶĞĨŝƚƐ ƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚ͕ŽƌƉƌŽĐƵƌĞŵĞŶƚŽĨŵĂƚĞƌŝĂůƐŽƌƐƵƉƉůŝĞƐ͘ ͘ dŚĞŽŶƐƵůƚĂŶƚǁŝůůƚĂŬĞĂĨĨŝƌŵĂƚŝǀĞĂĐƚŝŽŶƚŽŝŶƐƵƌĞƚŚĂƚĂƉƉůŝĐĂŶƚƐĂƌĞĞŵƉůŽǇĞĚĂŶĚ ƚŚĂƚĞŵƉůŽǇĞĞƐĂƌĞƚƌĞĂƚĞĚĚƵƌŝŶŐĞŵƉůŽǇŵĞŶƚǁŝƚŚŽƵƚƌĞŐĂƌĚƚŽƚŚĞŝƌƌĂĐĞ͕ĐƌĞĞĚ͕ ĐŽůŽƌ͕ ŶĂƚŝŽŶĂů ŽƌŝŐŝŶ͕ ƐĞǆ͕ ĂŐĞ͕ ƐĞǆƵĂů ŽƌŝĞŶƚĂƚŝŽŶ͕ ƉŚǇƐŝĐĂů͕ ƐĞŶƐŽƌǇ Žƌ ŵĞŶƚĂů ŚĂŶĚŝĐĂƉƐ͕ŽƌŵĂƌŝƚĂůƐƚĂƚƵƐ͘^ƵĐŚĂĐƚŝŽŶƐŚĂůůŝŶĐůƵĚĞ͕ďƵƚŶŽƚďĞůŝŵŝƚĞĚƚŽƚŚĞ ĨŽůůŽǁŝŶŐĞŵƉůŽǇŵĞŶƚ͕ƵƉŐƌĂĚŝŶŐ͕ĚĞŵŽƚŝŽŶŽƌƚƌĂŶƐĨĞƌ͕ƌĞĐƌƵŝƚŵĞŶƚŽƌƌĞĐƌƵŝƚŵĞŶƚ ĂĚǀĞƌƚŝƐŝŶŐ͕ůĂǇŽĨĨŽƌƚĞƌŵŝŶĂƚŝŽŶ͕ƌĂƚĞƐŽĨƉĂǇŽƌŽƚŚĞƌĨŽƌŵƐŽĨĐŽŵƉĞŶƐĂƚŝŽŶĂŶĚ ƐĞůĞĐƚŝŽŶĨŽƌƚƌĂŝŶŝŶŐ͘ ͘ /ĨƚŚĞŽŶƐƵůƚĂŶƚĨĂŝůƐƚŽĐŽŵƉůǇǁŝƚŚĂŶǇŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͛ƐŶŽŶͲĚŝƐĐƌŝŵŝŶĂƚŝŽŶ ƉƌŽǀŝƐŝŽŶƐ͕ƚŚĞŝƚǇƐŚĂůůŚĂǀĞƚŚĞƌŝŐŚƚ͕ĂƚŝƚƐŽƉƚŝŽŶ͕ƚŽĐĂŶĐĞůƚŚĞŐƌĞĞŵĞŶƚŝŶ ǁŚŽůĞŽƌŝŶƉĂƌƚ͘ ͘ dŚĞŽŶƐƵůƚĂŶƚŝƐƌĞƐƉŽŶƐŝďůĞƚŽďĞĂǁĂƌĞŽĨĂŶĚŝŶĐŽŵƉůŝĂŶĐĞǁŝƚŚĂůůĨĞĚĞƌĂů͕ƐƚĂƚĞ ĂŶĚůŽĐĂůůĂǁƐĂŶĚƌĞŐƵůĂƚŝŽŶƐƚŚĂƚŵĂǇĂĨĨĞĐƚƚŚĞƐĂƚŝƐĨĂĐƚŽƌǇĐŽŵƉůĞƚŝŽŶŽĨƚŚĞ ƉƌŽũĞĐƚ͕ǁŚŝĐŚŝŶĐůƵĚĞƐďƵƚŝƐŶŽƚůŝŵŝƚĞĚƚŽĨĂŝƌůĂďŽƌůĂǁƐ͕ ǁŽƌŬĞƌΖƐĐŽŵƉĞŶƐĂƚŝŽŶ͕ ĂŶĚdŝƚůĞs/ŽĨƚŚĞ&ĞĚĞƌĂůŝǀŝůZŝŐŚƚƐĐƚŽĨϭϵϲϰ͕ĂŶĚǁŝůůĐŽŵƉůǇǁŝƚŚŝƚǇŽĨZĞŶƚŽŶ ŽƵŶĐŝůZĞƐŽůƵƚŝŽŶEƵŵďĞƌϰϬϴϱ͘ ϭϴ͘ DŝƐĐĞůůĂŶĞŽƵƐ͗dŚĞƉĂƌƚŝĞƐŚĞƌĞďǇĂĐŬŶŽǁůĞĚŐĞ͗ ͘ dŚĞŝƚǇŝƐŶŽƚƌĞƐƉŽŶƐŝďůĞƚŽƚƌĂŝŶŽƌƉƌŽǀŝĚĞƚƌĂŝŶŝŶŐĨŽƌŽŶƐƵůƚĂŶƚ͘ W'ϴ K&ϭϮ ͘ ŽŶƐƵůƚĂŶƚǁŝůůŶŽƚďĞƌĞŝŵďƵƌƐĞĚĨŽƌũŽďƌĞůĂƚĞĚĞǆƉĞŶƐĞƐ ĞǆĐĞƉƚƚŽƚŚĞĞǆƚĞŶƚ ƐƉĞĐŝĨŝĐĂůůǇĂŐƌĞĞĚǁŝƚŚŝŶƚŚĞĂƚƚĂĐŚĞĚĞǆŚŝďŝƚƐ͘ ͘ ŽŶƐƵůƚĂŶƚƐŚĂůůĨƵƌŶŝƐŚĂůůƚŽŽůƐĂŶĚͬŽƌŵĂƚĞƌŝĂůƐŶĞĐĞƐƐĂƌǇƚŽƉĞƌĨŽƌŵƚŚĞ tŽƌŬ ĞǆĐĞƉƚƚŽƚŚĞĞǆƚĞŶƚƐƉĞĐŝĨŝĐĂůůǇĂŐƌĞĞĚǁŝƚŚŝŶƚŚĞĂƚƚĂĐŚĞĚĞǆŚŝďŝƚƐ͘ ͘ /ŶƚŚĞĞǀĞŶƚƐƉĞĐŝĂůƚƌĂŝŶŝŶŐ͕ůŝĐĞŶƐŝŶŐ͕ŽƌĐĞƌƚŝĨŝĐĂƚŝŽŶŝƐƌĞƋƵŝƌĞĚĨŽƌŽŶƐƵůƚĂŶƚƚŽ ƉƌŽǀŝĚĞtŽƌŬ ŚĞͬƐŚĞǁŝůůĂĐƋƵŝƌĞŽƌŵĂŝŶƚĂŝŶƐƵĐŚĂƚŚŝƐͬŚĞƌŽǁŶĞǆƉĞŶƐĞĂŶĚ͕ŝĨ ŽŶƐƵůƚĂŶƚĞŵƉůŽǇƐ͕ƐƵďͲĐŽŶƚƌĂĐƚƐ͕ŽƌŽƚŚĞƌǁŝƐĞĂƐƐŝŐŶƐƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚǇƚŽ ƉĞƌĨŽƌŵƚŚĞtŽƌŬ͕ƐĂŝĚĞŵƉůŽǇĞĞͬƐƵďͲĐŽŶƚƌĂĐƚŽƌͬĂƐƐŝŐŶĞĞǁŝůůĂĐƋƵŝƌĞĂŶĚŽƌ ŵĂŝŶƚĂŝŶƐƵĐŚƚƌĂŝŶŝŶŐ͕ůŝĐĞŶƐŝŶŐ͕ŽƌĐĞƌƚŝĨŝĐĂƚŝŽŶ͘ ͘ dŚŝƐŝƐĂŶŽŶͲĞǆĐůƵƐŝǀĞĂŐƌĞĞŵĞŶƚĂŶĚŽŶƐƵůƚĂŶƚŝƐĨƌĞĞƚŽƉƌŽǀŝĚĞŚŝƐͬŚĞƌtŽƌŬ ƚŽ ŽƚŚĞƌĞŶƚŝƚŝĞƐ͕ƐŽůŽŶŐĂƐƚŚĞƌĞŝƐŶŽŝŶƚĞƌƌƵƉƚŝŽŶŽƌŝŶƚĞƌĨĞƌĞŶĐĞǁŝƚŚƚŚĞƉƌŽǀŝƐŝŽŶŽĨ tŽƌŬ ĐĂůůĞĚĨŽƌŝŶƚŚŝƐŐƌĞĞŵĞŶƚ͘ &͘ ŽŶƐƵůƚĂŶƚŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌŚŝƐͬŚĞƌŽǁŶŝŶƐƵƌĂŶĐĞ͕ŝŶĐůƵĚŝŶŐ͕ďƵƚŶŽƚůŝŵŝƚĞĚƚŽ ŚĞĂůƚŚŝŶƐƵƌĂŶĐĞ͘ '͘ ŽŶƐƵůƚĂŶƚŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌŚŝƐͬŚĞƌŽǁŶtŽƌŬĞƌ͛ƐŽŵƉĞŶƐĂƚŝŽŶĐŽǀĞƌĂŐĞĂƐǁĞůůĂƐ ƚŚĂƚĨŽƌĂŶǇƉĞƌƐŽŶƐĞŵƉůŽǇĞĚďǇƚŚĞŽŶƐƵůƚĂŶƚ͘ ϭϵ͘ KƚŚĞƌWƌŽǀŝƐŝŽŶƐ͗ ͘ ƉƉƌŽǀĂůƵƚŚŽƌŝƚǇ͘ĂĐŚŝŶĚŝǀŝĚƵĂůĞǆĞĐƵƚŝŶŐƚŚŝƐŐƌĞĞŵĞŶƚŽŶďĞŚĂůĨŽĨƚŚĞŝƚǇ ĂŶĚŽŶƐƵůƚĂŶƚƌĞƉƌĞƐĞŶƚƐĂŶĚǁĂƌƌĂŶƚƐƚŚĂƚƐƵĐŚŝŶĚŝǀŝĚƵĂůƐĂƌĞĚƵůǇĂƵƚŚŽƌŝǌĞĚƚŽ ĞǆĞĐƵƚĞĂŶĚĚĞůŝǀĞƌƚŚŝƐŐƌĞĞŵĞŶƚŽŶďĞŚĂůĨŽĨƚŚĞŝƚǇŽƌŽŶƐƵůƚĂŶƚ͘ ͘ 'ĞŶĞƌĂů ĚŵŝŶŝƐƚƌĂƚŝŽŶ ĂŶĚ DĂŶĂŐĞŵĞŶƚ͘ dŚĞ ŝƚǇ͛Ɛ ƉƌŽũĞĐƚ ŵĂŶĂŐĞƌ ŝƐ ,ĂŶŶĂ ŝůůŝŶŐŚĂŵ͘ /Ŷ ƉƌŽǀŝĚŝŶŐtŽƌŬ͕ŽŶƐƵůƚĂŶƚƐŚĂůůĐŽŽƌĚŝŶĂƚĞǁŝƚŚƚŚĞŝƚǇ͛ƐĐŽŶƚƌĂĐƚ ŵĂŶĂŐĞƌŽƌŚŝƐͬŚĞƌĚĞƐŝŐŶĞĞ͘ ͘ ŵĞŶĚŵĞŶƚ ĂŶĚ DŽĚŝĨŝĐĂƚŝŽŶ͘ dŚŝƐ ŐƌĞĞŵĞŶƚ ŵĂǇ ďĞ ĂŵĞŶĚĞĚ ŽŶůǇďǇĂŶ ŝŶƐƚƌƵŵĞŶƚŝŶǁƌŝƚŝŶŐ͕ĚƵůǇĞǆĞĐƵƚĞĚďǇďŽƚŚWĂƌƚŝĞƐ͘ ͘ ŽŶĨůŝĐƚƐ͘ /ŶƚŚĞĞǀĞŶƚŽĨĂŶǇŝŶĐŽŶƐŝƐƚĞŶĐŝĞƐďĞƚǁĞĞŶŽŶƐƵůƚĂŶƚ ƉƌŽƉŽƐĂůƐĂŶĚƚŚŝƐ ŐƌĞĞŵĞŶƚ͕ƚŚĞƚĞƌŵƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůƉƌĞǀĂŝů͘ŶǇĞǆŚŝďŝƚƐͬĂƚƚĂĐŚŵĞŶƚƐƚŽ ƚŚŝƐŐƌĞĞŵĞŶƚĂƌĞŝŶĐŽƌƉŽƌĂƚĞĚďǇƌĞĨĞƌĞŶĐĞŽŶůǇƚŽƚŚĞĞǆƚĞŶƚŽĨƚŚĞƉƵƌƉŽƐĞĨŽƌ ǁŚŝĐŚ ƚŚĞǇ ĂƌĞ ƌĞĨĞƌĞŶĐĞĚ ǁŝƚŚŝŶ ƚŚŝƐ ŐƌĞĞŵĞŶƚ͘ dŽ ƚŚĞ ĞǆƚĞŶƚĂ ŽŶƐƵůƚĂŶƚ ƉƌĞƉĂƌĞĚĞǆŚŝďŝƚĐŽŶĨůŝĐƚƐǁŝƚŚƚŚĞƚĞƌŵƐŝŶƚŚĞďŽĚǇŽĨƚŚŝƐŐƌĞĞŵĞŶƚŽƌĐŽŶƚĂŝŶƐ ƚĞƌŵƐƚŚĂƚĂƌĞĞǆƚƌĂŶĞŽƵƐƚŽƚŚĞƉƵƌƉŽƐĞĨŽƌǁŚŝĐŚŝƚŝƐƌĞĨĞƌĞŶĐĞĚ͕ƚŚĞƚĞƌŵƐŝŶƚŚĞ W'ϵ K&ϭϮ ďŽĚǇ ŽĨ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ƐŚĂůů ƉƌĞǀĂŝů ĂŶĚ ƚŚĞ ĞǆƚƌĂŶĞŽƵƐ ƚĞƌŵƐ ƐŚĂůů ŶŽƚ ďĞ ŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶ͘ ͘ 'ŽǀĞƌŶŝŶŐ>Ăǁ͘ dŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞŵĂĚĞŝŶĂŶĚƐŚĂůůďĞŐŽǀĞƌŶĞĚ ďǇ ĂŶĚ ŝŶƚĞƌƉƌĞƚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞůĂǁƐŽĨƚŚĞ^ƚĂƚĞŽĨtĂƐŚŝŶŐƚŽŶĂŶĚƚŚĞŝƚǇŽĨ ZĞŶƚŽŶ͘ŽŶƐƵůƚĂŶƚĂŶĚĂůůŽĨƚŚĞŽŶƐƵůƚĂŶƚ͛ƐĞŵƉůŽǇĞĞƐƐŚĂůůƉĞƌĨŽƌŵƚŚĞtŽƌŬ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ Ăůů ĂƉƉůŝĐĂďůĞ ĨĞĚĞƌĂů͕ ƐƚĂƚĞ͕ ĐŽƵŶƚǇ ĂŶĚ ĐŝƚǇůĂǁƐ͕ ĐŽĚĞƐ ĂŶĚ ŽƌĚŝŶĂŶĐĞƐ͘ &͘ :ŽŝŶƚƌĂĨƚŝŶŐĨĨŽƌƚ͘dŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞĐŽŶƐŝĚĞƌĞĚĨŽƌĂůůƉƵƌƉŽƐĞƐĂƐƉƌĞƉĂƌĞĚ ďǇƚŚĞũŽŝŶƚĞĨĨŽƌƚƐŽĨƚŚĞWĂƌƚŝĞƐĂŶĚƐŚĂůůŶŽƚďĞĐŽŶƐƚƌƵĞĚĂŐĂŝŶƐƚŽŶĞƉĂƌƚǇŽƌƚŚĞ ŽƚŚĞƌ ĂƐ Ă ƌĞƐƵůƚ ŽĨ ƚŚĞ ƉƌĞƉĂƌĂƚŝŽŶ͕ ƐƵďƐƚŝƚƵƚŝŽŶ͕ ƐƵďŵŝƐƐŝŽŶŽƌŽƚŚĞƌĞǀĞŶƚŽĨ ŶĞŐŽƚŝĂƚŝŽŶ͕ĚƌĂĨƚŝŶŐŽƌĞǆĞĐƵƚŝŽŶ͘ '͘ :ƵƌŝƐĚŝĐƚŝŽŶĂŶĚsĞŶƵĞ͘ŶǇůĂǁƐƵŝƚŽƌůĞŐĂůĂĐƚŝŽŶďƌŽƵŐŚƚďǇĂŶǇƉĂƌƚǇƚŽĞŶĨŽƌĐĞŽƌ ŝŶƚĞƌƉƌĞƚƚŚŝƐŐƌĞĞŵĞŶƚŽƌĂŶǇŽĨŝƚƐƚĞƌŵƐŽƌĐŽǀĞŶĂŶƚƐƐŚĂůůďĞďƌŽƵŐŚƚŝŶƚŚĞ<ŝŶŐ ŽƵŶƚǇ^ƵƉĞƌŝŽƌŽƵƌƚĨŽƌƚŚĞ^ƚĂƚĞŽĨtĂƐŚŝŶŐƚŽŶĂƚƚŚĞDĂůĞŶŐZĞŐŝŽŶĂů:ƵƐƚŝĐĞ ĞŶƚĞƌŝŶ<ĞŶƚ͕<ŝŶŐŽƵŶƚǇ͕tĂƐŚŝŶŐƚŽŶ͕ŽƌŝƚƐƌĞƉůĂĐĞŵĞŶƚŽƌƐƵĐĐĞƐƐŽƌ͘ ŽŶƐƵůƚĂŶƚ ŚĞƌĞďǇĞǆƉƌĞƐƐůǇĐŽŶƐĞŶƚƐƚŽƚŚĞƉĞƌƐŽŶĂůĂŶĚĞǆĐůƵƐŝǀĞũƵƌŝƐĚŝĐƚŝŽŶĂŶĚǀĞŶƵĞŽĨ ƐƵĐŚĐŽƵƌƚĞǀĞŶŝĨŽŶƐƵůƚĂŶƚŝƐĂĨŽƌĞŝŐŶĐŽƌƉŽƌĂƚŝŽŶŶŽƚƌĞŐŝƐƚĞƌĞĚǁŝƚŚƚŚĞ^ƚĂƚĞŽĨ tĂƐŚŝŶŐƚŽŶ͘ ,͘ ^ĞǀĞƌĂďŝůŝƚǇ͘ ĐŽƵƌƚŽĨĐŽŵƉĞƚĞŶƚũƵƌŝƐĚŝĐƚŝŽŶ͛ƐĚĞƚĞƌŵŝŶĂƚŝŽŶƚŚĂƚĂŶǇƉƌŽǀŝƐŝŽŶŽƌ ƉĂƌƚŽĨƚŚŝƐŐƌĞĞŵĞŶƚŝƐŝůůĞŐĂůŽƌƵŶĞŶĨŽƌĐĞĂďůĞƐŚĂůůŶŽƚĐĂŶĐĞůŽƌŝŶǀĂůŝĚĂƚĞƚŚĞ ƌĞŵĂŝŶĚĞƌŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͕ǁŚŝĐŚƐŚĂůůƌĞŵĂŝŶŝŶĨƵůůĨŽƌĐĞĂŶĚĞĨĨĞĐƚ͘ /͘ ^ŽůĞĂŶĚŶƚŝƌĞŐƌĞĞŵĞŶƚ͘ dŚŝƐŐƌĞĞŵĞŶƚĐŽŶƚĂŝŶƐƚŚĞĞŶƚŝƌĞĂŐƌĞĞŵĞŶƚŽĨƚŚĞ WĂƌƚŝĞƐ ĂŶĚĂŶǇƌĞƉƌĞƐĞŶƚĂƚŝŽŶƐ Žƌ ƵŶĚĞƌƐƚĂŶĚŝŶŐƐ͕ǁŚĞƚŚĞƌ ŽƌĂůŽƌǁƌŝƚƚĞŶ͕ŶŽƚ ŝŶĐŽƌƉŽƌĂƚĞĚĂƌĞĞǆĐůƵĚĞĚ͘ :͘ dŝŵĞŝƐŽĨƚŚĞƐƐĞŶĐĞ͘dŝŵĞŝƐŽĨƚŚĞĞƐƐĞŶĐĞŽĨƚŚŝƐŐƌĞĞŵĞŶƚĂŶĚĞĂĐŚĂŶĚĂůůŽĨ ŝƚƐƉƌŽǀŝƐŝŽŶƐŝŶǁŚŝĐŚƉĞƌĨŽƌŵĂŶĐĞŝƐĂĨĂĐƚŽƌ͘ĚŚĞƌĞŶĐĞƚŽĐŽŵƉůĞƚŝŽŶĚĂƚĞƐƐĞƚ ĨŽƌƚŚŝŶƚŚĞĚĞƐĐƌŝƉƚŝŽŶŽĨƚŚĞtŽƌŬ ŝƐĞƐƐĞŶƚŝĂůƚŽƚŚĞŽŶƐƵůƚĂŶƚ͛ƐƉĞƌĨŽƌŵĂŶĐĞŽĨ ƚŚŝƐŐƌĞĞŵĞŶƚ͘ <͘ dŚŝƌĚͲWĂƌƚǇĞŶĞĨŝĐŝĂƌŝĞƐ͘ EŽƚŚŝŶŐ ŝŶƚŚŝƐ ŐƌĞĞŵĞŶƚ ŝƐ ŝŶƚĞŶĚĞĚ ƚŽ͕ ŶŽƌ ƐŚĂůůďĞ ĐŽŶƐƚƌƵĞĚƚŽŐŝǀĞĂŶǇƌŝŐŚƚƐŽƌďĞŶĞĨŝƚƐŝŶƚŚĞŐƌĞĞŵĞŶƚƚŽĂŶǇŽŶĞŽƚŚĞƌƚŚĂŶƚŚĞ WĂƌƚŝĞƐ͕ĂŶĚĂůůĚƵƚŝĞƐĂŶĚƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐƵŶĚĞƌƚĂŬĞŶƉƵƌƐƵĂŶƚƚŽƚŚŝƐŐƌĞĞŵĞŶƚǁŝůů ďĞĨŽƌƚŚĞƐŽůĞĂŶĚĞǆĐůƵƐŝǀĞďĞŶĞĨŝƚŽĨƚŚĞWĂƌƚŝĞƐĂŶĚŶŽŽŶĞĞůƐĞ͘ >͘ ŝŶĚŝŶŐĨĨĞĐƚ͘dŚĞWĂƌƚŝĞƐĞĂĐŚďŝŶĚƚŚĞŵƐĞůǀĞƐ͕ƚŚĞŝƌƉĂƌƚŶĞƌƐ͕ƐƵĐĐĞƐƐŽƌƐ͕ĂƐƐŝŐŶƐ͕ ĂŶĚůĞŐĂůƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐƚŽƚŚĞŽƚŚĞƌƉĂƌƚǇƚŽƚŚŝƐŐƌĞĞŵĞŶƚ͕ĂŶĚƚŽƚŚĞƉĂƌƚŶĞƌƐ͕ W'ϭϬ K&ϭϮ ƐƵĐĐĞƐƐŽƌƐ͕ĂƐƐŝŐŶƐ͕ĂŶĚůĞŐĂůƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐŽĨƐƵĐŚŽƚŚĞƌƉĂƌƚǇǁŝƚŚƌĞƐƉĞĐƚƚŽĂůů ĐŽǀĞŶĂŶƚƐŽĨƚŚĞŐƌĞĞŵĞŶƚ͘ D͘ tĂŝǀĞƌƐ͘ůůǁĂŝǀĞƌƐƐŚĂůůďĞŝŶǁƌŝƚŝŶŐĂŶĚƐŝŐŶĞĚďǇƚŚĞǁĂŝǀŝŶŐƉĂƌƚǇ͘ŝƚŚĞƌƉĂƌƚǇ͛Ɛ ĨĂŝůƵƌĞƚŽĞŶĨŽƌĐĞĂŶǇƉƌŽǀŝƐŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůŶŽƚďĞĂǁĂŝǀĞƌĂŶĚƐŚĂůůŶŽƚ ƉƌĞǀĞŶƚĞŝƚŚĞƌƚŚĞŝƚǇŽƌŽŶƐƵůƚĂŶƚĨƌŽŵĞŶĨŽƌĐŝŶŐƚŚĂƚƉƌŽǀŝƐŝŽŶŽƌĂŶǇŽƚŚĞƌ ƉƌŽǀŝƐŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚŝŶƚŚĞĨƵƚƵƌĞ͘tĂŝǀĞƌŽĨďƌĞĂĐŚŽĨĂŶǇƉƌŽǀŝƐŝŽŶŽĨƚŚŝƐ ŐƌĞĞŵĞŶƚƐŚĂůůŶŽƚďĞĚĞĞŵĞĚƚŽďĞĂǁĂŝǀĞƌŽĨĂŶǇƉƌŝŽƌŽƌƐƵďƐĞƋƵĞŶƚďƌĞĂĐŚ ƵŶůĞƐƐŝƚŝƐĞǆƉƌĞƐƐůǇǁĂŝǀĞĚŝŶǁƌŝƚŝŶŐ͘ E͘ ŽƵŶƚĞƌƉĂƌƚƐ͘ dŚĞ WĂƌƚŝĞƐ ŵĂǇ ĞǆĞĐƵƚĞ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ŝŶ ĂŶǇ ŶƵŵďĞƌ ŽĨ ĐŽƵŶƚĞƌƉĂƌƚƐ͕ĞĂĐŚŽĨǁŚŝĐŚƐŚĂůůĐŽŶƐƚŝƚƵƚĞĂŶŽƌŝŐŝŶĂů͕ĂŶĚĂůůŽĨǁŚŝĐŚǁŝůůƚŽŐĞƚŚĞƌ ĐŽŶƐƚŝƚƵƚĞƚŚŝƐŽŶĞŐƌĞĞŵĞŶƚ͘ /Et/dE^^t,ZK&͕ƚŚĞWĂƌƚŝĞƐŚĂǀĞǀŽůƵŶƚĂƌŝůǇĞŶƚĞƌĞĚŝŶƚŽƚŚŝƐŐƌĞĞŵĞŶƚĂƐŽĨƚŚĞĚĂƚĞ ůĂƐƚƐŝŐŶĞĚďǇƚŚĞWĂƌƚŝĞƐďĞůŽǁ͘ /dzK&ZEdKE Ǉ͗ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ KE^h>dEd Ǉ͗ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ DĂƌǇũĂŶĞsĂŶůĞĂǀĞ WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶĚŵŝŶŝƐƚƌĂƚŽƌ DĞůĂŶŝĞZŽĂĐŚ KǁŶĞƌ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ĂƚĞ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ĂƚĞ ƉƉƌŽǀĞĚĂƐƚŽ>ĞŐĂů&Žƌŵ Ǉ͗ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ůĞǆ dƵƚƚůĞ ^ĞŶŝŽƌ ƐƐŝƐƚĂŶƚ ŝƚǇ ƚƚŽƌŶĞǇ ZĞĐƌĞĂƚŝŽŶ/ŶƐƚƌƵĐƚŽƌƐŽŶƚƌĂĐƚdĞŵƉůĂƚĞ hƉĚĂƚĞĚϰͬϭϭͬϮϬϮϯ KKdĐŽŶƚƌĂĐƚŶŽ͘ϯϮϲϮ Approved by Alex Tuttle via 12/20/2024 email W'ϭϭ K&ϭϮ EXHIBIT A: SCOPE OF WORK For the purposes of this Exhibit, “Instructor” shall mean the same as “Consultant.” Background Checks: It is the responsibility of the Instructor to obtain and evaluate background checks for all of the persons who will be providing services under the agreement. Upon request by the City, Instructor shall provide the City with copies of background check information. Payment Rates: Instructor will receive 70% of the resident registration fee for each class participant, regardless of the participant’s resident status. The current registration fee for Gymnastics Classes is $16 per class. Per participant, Instructor will be paid 70% of that amount, for a total of $11.20 per registered participant, per class. Class Minimums: Instructor agrees to teach each full session of Gymnastics if a minimum of 5 participants register for the class at least three working days prior to the scheduled class time. Instructor has the option to teach a class that has not reached the minimum number at the same payment rate as stated above. The Recreation Coordinator will notify Instructor as to the number of registered participants at least three working days prior to the start date of each class. Rosters/Class Participant List: Recreation Staff to provide rosters before the start of each class. Equipment/Classroom Set-Up: Instructor will set up equipment and classroom configuration. Instructor will return the classroom to the condition it was in prior to the class session at the end of each class. Supplies: Instructor will collect a supply fee, if any, from the participants directly. In this scenario, Instructor will be responsible for providing all supplies to be used for the class. Instructor may only use City supplies as pre-approved in writing by the City. Instructor will purchase replacements of any City supplies used, at Instructor’s expense. Equipment: Instructor will be allowed to use City equipment stored at City facilities; provided that (1) Instructor assumes all responsibility for pre-inspecting the equipment and determining it to be safe and suitable for use and (2) at the end of each class session, Instructor returns all equipment to its storage area in the same or better condition it was in prior to use. W'ϭϮ K&ϭϮ Schedule: Develop, implement, and market gymnastics classes to Renton area youth, to include the following: 8-12 week courses held at Highlands Neighborhood Center, 6 classes on either Mondays or Wednesdays (5 per week total) as follows: x Toddler x Beginner (2 classes) x Intermediate (2 classes) x Advanced No programming in July, August Description:Under the instruction of the Roach Gymnastics and Strength coaches children will learn basic gymnastics skills including handstands, cartwheels, rolls and jumps as well as body awareness, coordination, social skills, and overall conditioning. These classes strive to create a safe, fun loving and high-energy class where the goal is to make each child feel better walking out the door than when they walked in. Those with previous experience will continue to develop their skills. Leotard or shorts and t- shirt are recommended and must be zipper free. Pricing:$16 per class for Renton Residents/ 19 for Non-Residents