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† H D :KLWHY0F*LQQLV )G   WK&LU   RUGHU %HFDXVH6PLWK 0,&+$(/ +(15< 60,7+ ; RQO\SDUWLDOO\H[KDXVWHGILYHRIKLVFODLPVDQGGLGQRWVHHN 3ODLQWLII$SSHOODQW  DQ\DGPLQLVWUDWLYHUHPHGLHVDVWRDQRWKHUWKHGLVWULFWFRXUW  SURSHUO\GLVPLVVHGKLVFRPSODLQWIRUODFNRIH[KDXVWLRQ  1R Y  $FFRUGLQJO\ ZH $)),50 WKH GLVWULFW FRXUWjV MXGJPHQW !  XQGHU5XOH M  & 5XOHVRIWKH6L[WK&LUFXLW )('(5$/ %85($8 2)  35,6216  'HIHQGDQW$SSHOOHH   $SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW IRUWKH(DVWHUQ'LVWULFWRI.HQWXFN\DW$VKODQG 1Rn+HQU\5:LOKRLWsU'LVWULFWsXGJH 6XEPLWWHG $XJXVW 'HFLGHGDQG)LOHG $XJXVW %HIRUH .(,7+DQG'$8*+75(<&LUFXLWsXGJHV &$55'LVWULFWsXGJH

7KH +RQRUDEOH sDPHV * &DUU 8QLWHG 6WDWHV 'LVWULFW sXGJH IRU WKH 1RUWKHUQ 'LVWULFW RI 2KLR VLWWLQJ E\ GHVLJQDWLRQ

  6PLWKY)HGHUDO%XUHDXRI3ULVRQV 1R 1R 6PLWKY)HGHUDO%XUHDXRI3ULVRQV  BBBBBBBBBBBBBBBBB SULVRQHUVj ULJKW RI DFFHVV WR WKH FRXUWV DQG JRYHUQPHQWDO DJHQFLHVZKHUHWKHUHFHLYLQJSKRQHV\VWHPLVDXWRPDWHGDQG &2816(/ FDQQRW mSXVK  l DQG   WKH %XUHDX RI 3ULVRQV KDV QRW FRUUHFWHGRUUHLPEXUVHGXVHUVIRUDPHFKDQLFDOIODZZKLFK 21%5,() 0LFKDHO+HQU\6PLWK<D]RR&LW\0LVVLVVLSSL FDXVHVWKHV\VWHPWRFRQWLQXHELOOLQJDIWHUDFDOOHQGV6PLWK SURVH LQGLFDWHG WKDW KH KDG ILOHG D JULHYDQFH ZLWK WKH ZDUGHQ FRQFHUQLQJ DOO FODLPV H[FHSW WKH ILIWK DQG WKDW KH KDG QRW BBBBBBBBBBBBBBBBB SXUVXHG DQ\ IXUWKHU DGPLQLVWUDWLYH UHPHGLHV  8SRQ FRQVLGHUDWLRQWKHGLVWULFWFRXUWGLVPLVVHGWKHFRPSODLQWVXD 23,1,21 VSRQWHSXUVXDQWWR86&† HUHDVRQLQJWKDW6PLWK BBBBBBBBBBBBBBBBB KDGQRWIXOO\H[KDXVWHGKLVDGPLQLVWUDWLYHUHPHGLHV6PLWKjV 3(5 &85,$0  0LFKDHO +HQU\ 6PLWK D SUR VH IHGHUDO PRWLRQIRUUHFRQVLGHUDWLRQZDVGHQLHGDQGWKLVWLPHO\DSSHDO SULVRQHU DSSHDOV D GLVWULFW FRXUW RUGHU GLVPLVVLQJ KLV IROORZHG FRPSODLQWILOHGXQGHU86&†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† H D %RRWKY&KXUQHU86  SHQRORJLFDOREMHFWLYH   QHZPRGLILFDWLRQVGRQRWPDNHD :\DWWY/HRQDUG )G WK&LU :ULJKW VSHFLILFDOORZDQFHIRUPLQXWHVRIFROOHFWFDOOVDVUHTXLUHG Y 0RUULV  )G   WK &LU     7KLV E\WKH6HWWOHPHQW$JUHHPHQW   SULVRQHUVDUHUHTXLUHGWR UHTXLUHPHQWDSSOLHVWRVXLWVEURXJKWWRHQIRUFHWKH6HWWOHPHQW SD\ IRU SKRQH DLU WLPH ZKHQHYHU WKH %XUHDX RI 3ULVRQV $JUHHPHQW DQG VXSHUVHGHV WKH $JUHHPHQWjV SURYLVLRQ RQ LQWHUUXSWVZLWKDUHSHDWHGPHVVDJHWKDWmWKLVFDOOLVIURPD H[KDXVWLRQ IHGHUDOSULVRQ l  SULVRQHUVDUHUHTXLUHGWRSD\IRUSKRQHDLU WLPHZKLOHDQDQQRXQFHPHQWLVPDGHWRWKHUHFLSLHQWDWWKH 7RGHPRQVWUDWHH[KDXVWLRQRIDGPLQLVWUDWLYHUHPHGLHVWKH EHJLQQLQJ RI DQ DFFHSWHG FROOHFW FDOO    WKH V\VWHPjV SULVRQHU VKRXOG DWWDFK WKH GHFLVLRQ FRQWDLQLQJ WKH UHTXLUHPHQWWKDWDUHFLSLHQWDFFHSWLQJDFDOOmSXVKlYLRODWHV DGPLQLVWUDWLYHGLVSRVLWLRQRIWKHJULHYDQFHWRWKHFRPSODLQW