505917
1
Zoom out
Zoom in
Vorherige Seite
1/92
Nächste Seite
3URMHFWRU
*HEUXLNVDDQZLM]LQJ*HEUXLNHUVKDQGOHLGLQJ
%HGDQNWYRRUGHDDQNRRSYDQGH]HSURMHFWRU
:$$56&+8:,1*Ź
/H]HVGH*HEUXLNVDDQZLM]LQJ9HLOLJKHLGVKDQGOHLGLQJ
HQGH]HKDQGOHLGLQJHQDDQGDFKWLJGRRU]RGDWXKHWDSSDUDDWFRUUHFWNXQW
JHEUXLNHQ%HZDDUGH]HKDQGOHLGLQJQDGDWXGH]HDDQGDFKWLJKHHIWGRRUJHOH]HQ
]RGDWXGH]HODWHURSQLHXZNXQWGRRUOH]HQ
2YHUGH]HJHEUXLNVDDQZLM]LQJ
9HUVFKLOOHQGHV\PEROHQZRUGHQLQGH]HJHEUXLNVDDQZLM]LQJJHEUXLNW'H
EHWHNHQLVVHQYDQGH]HV\PEROHQZRUGHQKLHURQGHUEHVFKUHYHQ
:$$56&+8:,1*
'LWV\PERROJHHIWLQIRUPDWLHGDWLQGLHQJHQHJHHUGPRJHOLMN
]RXNXQQHQOHLGHQWRWSHUVRRQOLMNHYHUZRQGLQJRI]HOIVGRRG
GRRULQFRUUHFWJHEUXLN
23*(/(7 'LWV\PERROJHHIWLQIRUPDWLHGDWLQGLHQJHQHJHHUGPRJHOLMN
]RXNXQQHQOHLGHQWRWSHUVRRQOLMNHYHUZRQGLQJRII\VLHNH
EHVFKDGLJLQJGRRULQFRUUHFWJHEUXLN
*HOLHYHGHSDJLQD¶VWHUDDGSOHJHQGLWV\PERROYROJHQG
230(5.,1*'HLQIRUPDWLHLQGH]HKDQGOHLGLQJNDQ]RQGHUYRRUDIJDDQGH
NHQQLVJHYLQJYHUDQGHUGZRUGHQ
'HIDEULNDQWQHHPWJHHQHQNHOHYHUDQWZRRUGHOLMNKHLGYRRUGHHYHQWXHOHIRXWHQLQGH]HKDQGOHLGLQJ
5HSURGXFWLHRYHUGUDFKWRIKHWJHEUXLNYDQGLWGRFXPHQWLVQLHWWRHJHVWDDQ]RQGHU
XLWGUXNNHOLMNHWRHVWHPPLQJYDQGHEHWUHIIHQGHSDUWLM
(5.(11,1*+$1'(/60(5.
9*$HQ;*$]LMQJHUHJLVWUHHUGHKDQGHOVPHUNHQYDQGH,QWHUQDWLRQDO%XVLQHVV
0DFKLQHV&RUSRUDWLRQ
$SSOHHQ0DF]LMQJHUHJLVWUHHUGHKDQGHOVPHUNHQYDQ$SSOH&RPSXWHU,QF
9(6$HQ69*$]LMQKDQGHOVPHUNHQYDQ9LGHR(OHFWURQLFV6WDQGDUG$VVRFLDWLRQ
:LQGRZVLVHHQJHUHJLVWUHHUGKDQGHOVPHUNYDQ0LFURVRIW&RUSRUDWLRQ
,QWHUQHW([SORUHULVHHQKDQGHOVPHUNYDQ0LFURVRIW&RUSRUDWLRQ
$OOHDQGHUHKDQGHOVPHUNHQ]LMQHLJHQGRPYDQGHEHWUHIIHQGHHLJHQDDUV
7RHJHSDVWHV\PEROHQ
'LWV\PERROYHUJH]HOWHHQDDQYXOOHQGHZDDUVFKXZLQJRIEHGLHQLQJVDDQZLM]LQJ
+LHUELMJHHIWKHWWHNHQLQKHWPLGGHQGHLQKRXGDDQ
'LWV\PERROZDDUVFKXZWYRRUHHQKDQGHOLQJGLHYHUERGHQLV'HLQKRXG
ZRUGWYHUGXLGHOLMNW GRRU KHW WHNHQLQ KHW PLGGHQKHWYRRUEHHOG OLQNV JHHIW
DDQGDWGHPRQWDJHQLHWLVWRHJHVWDDQ
'LWV\PERROJHHIWHHQQRRG]DNHOLMNHKDQGHOLQJDDQ'HLQKRXGZRUGW
YHUGXLGHOLMNWGRRUKHWWHNHQLQKHWPLGGHQKHWYRRUEHHOGOLQNVJHHIWDDQGDWX
GHVWHNNHUXLWKHWVWRSFRQWDFWPRHWWUHNNHQ
%HGDQNWYRRUGHDDQNRRSYDQGH]HSURMHFWRU
230(5.,1*
'HLQIRUPDWLHLQGH]HKDQGOHLGLQJNDQ]RQGHUYRRUDIJDDQGHNHQQLVJHYLQJ
YHUDQGHUGZRUGHQ
'HIDEULNDQWQHHPWJHHQHQNHOHYHUDQWZRRUGHOLMNKHLGYRRUGHHYHQWXHOHIRXWHQLQGH]H
KDQGOHLGLQJ
5HSURGXFWLHRYHUGUDFKWRIKHWJHEUXLNYDQGLWGRFXPHQWLVQLHWWRHJHVWDDQ]RQGHU
XLWGUXNNHOLMNHWRHVWHPPLQJYDQGHEHWUHIIHQGHSDUWLM
:$$56&+8:,1* /HHVYyyUJHEUXLNGH KDQGOHLGLQJYDQGH]HSURMHFWRU
JURQGLJGRRU]RGDWXGHZHUNLQJHUYDQEHJULMSWHQFRUUHFWJHEUXLNYHU]HNHUG
LV %HZDDU GH]H KDQGOHLGLQJ QDGDW X GH]H DDQGDFKWLJ KHHIW GRRUJHOH]HQ ]RGDW
X GH]H ODWHU RSQLHXZ NXQW GRRUOH]HQ 1LHW FRUUHFWH RPJDQJ PHW GLW SURGXFW NDQ
PRJHOLMNOHLGHQWRWSHUVRRQOLMNOHWVHORIPDWHULsOHVFKDGH'HSURGXFHQWDDQYDDUGW
JHHQDDQVSUDNHOLMNKHLGYRRUHYHQWXHOHVFKDGHVGLHKHWJHYROJ]LMQYDQYHUNHHUGH
KDQGHOLQJHQGLHYRRUELMJDDQDDQKHWQRUPDOHJHEUXLN]RDOVGDWLQGHKDQGERHNHQ
YDQGH]HSURMHFWHQZRUGWJHGHILQLHHUG
3URMHFWR
*HEUXLNVDDQZLM]LQJ9HLOLJKHLGVKDQGOHLGLQJ
:$$56&+8:,1*
'LWV\PERROYHUJH]HOWDDQZLM]LQJHQGLHXQLHWPDJ
YHURQDFKW]DPHQRPGDWRQMXLVWHEHGLHQLQJKLHUJHYDDUYRRU
YHUZRQGLQJRI]HOIVIDWDOHRQJHOXNNHQNDQYHURRU]DNHQ
/(723
'LWV\PERROYHUJH]HOWDDQZLM]LQJHQGLHXGLHQWWHYROJHQRP
JHYDDUYRRUVFKDGHRIOLFKDPHOLMNOHWVHOWHYRRUNRPHQ
1('(5/$1'6
:DDUVFKXZLQJVV\PEROHQ
,QGH]H JHEUXLNVDDQZLM]LQJ HQRSKHW DSSDUDDW ]HOIVWDDQGLYHUVH V\PEROHQ YHUPHOG
GLHXGHMXLVWHEHGLHQLQJWRQHQHQXZDDUVFKXZHQRPVFKDGHHQJHYDDUYRRUX]HOIHQ
DQGHUHQWH YRRUNRPHQ'HEHWHNHQLVYDQGH]HV\PEROHQZRUGWKLHURQGHUXLWJHOHJG
/HHVGHEHVFKULMYLQJDDQGDFKWLJGRRURPYROOHGLJNHQQLVWHQHPHQYDQGHEHWHNHQLV
9HLOLJKHLGVPDDWUHJHOHQ
:$$56&+8:,1*
*HEUXLNGHSURMHFWRUQRRLWLQGLHQGH]HQLHWMXLVWZHUNW
*HEUXLNGHSURMHFWRU QLHW DOV GH]H URRNXLWVWRRWYUHHPG UXLNW DOV HU JHHQ EHHOG RI
JHOXLGLVRI DOV KHW JHOXLG WH OXLGLVDOVGH EHKXL]LQJ NDEHOV RI DQGHUH RQGHUGHOHQ
EHVFKDGLJG]LMQRIDOVHUHHQYORHLVWRIRIYRRUZHUSLQKHWDSSDUDDWLVWHUHFKWJHNRPHQ
ZDQWGLWNDQUHVXOWHUHQLQEUDQGRIHHQHOHNWULVFKHVFKRN
,Q]XONHJHYDOOHQPRHWXGHSURMHFWRUPHWHHQXLWVFKDNHOHQHQGHVWHNNHUXLWKHW
VWRSFRQWDFWWUHNNHQ&RQWUROHHURIGHURRNRIJHXUVWRSWHQQHHPGDQFRQWDFWRS
PHWXZGHDOHU3UREHHU KHWDSSDUDDWQRRLW ]HOI WH UHSDUHUHQ ZDQW GLWNDQELM]RQGHU
JHYDDUOLMN]LMQ
*HEUXLNHHQVWRSFRQWDFWGDWGLFKWELMGHSURMHFWRULVHQGDWJHPDNNHOLMNEHUHLNEDDULV
:HHVYRRUDOYRRU]LFKWLJYRRUNLQGHUHQHQKXLVGLHUHQ
%LMHHQYHUNHHUGH EHKDQGHOLQJNDQUHVXOWHUHQLQEUDQGHOHNWULVFKHVFKRNOHWVHO
YHUEUDQGHQRIJH]LFKWVSUREOHHP
:HHVYRRUDOYRRU]LFKWLJZDQQHHUHUNLQGHUHQHQKXLVGLHUHQLQGHEXXUW]LMQ
/HWRSGDWJHHQ YORHLVWRIRIYRRUZHUSLQKHWLQZHQGLJH
WHUHFKWNRPW
$OVYORHLVWRIIHQRIYRRUZHUSHQLQKHWLQZHQGLJHWHUHFKWNRPHQNDQGLWUHVXOWHUHQLQEUDQGRIHHQ
HOHNWULVFKHVFKRN:HHVYRRUDOYRRU]LFKWLJZDQQHHUHUNLQGHUHQLQGHEXXUW]LMQ
,QGLHQWRFKYORHLVWRIRIHHQYRRUZHUSLQGHSURMHFWRUWHUHFKWNRPWPRHWXKHWDSSDUDDW
PHWHHQXLWVFKDNHOHQGHVWHNNHUXLWKHWVWRSFRQWDFWWUHNNHQHQFRQWDFWRSQHPHQPHW
XZGHDOHU

3ODDWVGHSURMHFWRUQLHWLQGHEXXUWYDQZDWHUELMYLQGHEDGNDPHURSKHWVWUDQGHWF
6WHOGHSURMHFWRUQLHWDDQUHJHQRIYRFKWEORRW*HEUXLNGHSURMHFWRUQLHWEXLWHQVKXLV
=HWJHHQEORHPHQYD]HQSODQWHQNRSMHVPDNHXSRIYORHLVWRIIHQ]RDOVZDWHU HQ]
RSRIGLFKWLQGHEXXUWYDQGHSURMHFWRU
/HJJHHQPHWDOHQRIEUDQGEDUHYRRUZHUSHQRIDQGHUHJHYDDUOLMNHVWRIIHQRSRIGLFKW
LQGHEXXUWYDQGHSURMHFWRU

9HUSDNJHHQDQGHUHREMHFWHQGDQVLJQDDONDEHOVRIFRQQHFWRUVVDPHQPHWGHSURMHFWRULQGH]HOIGH
WDVRIDQGHUHYHUSDNNLQJRPWHYRRUNRPHQGDWGH]HLQGHSURMHFWRUWHUHFKWNXQQHQNRPHQ
+DDOKHWDSSDUDDWQRRLWXLWHONDDU HQEUHQJHURRNQRRLW
HLJHQKDQGLJZLM]LJLQJHQRSDDQ
,QGHSURMHFWRU]LMQKRJHVSDQQLQJHQDDQZH]LJ
:DQQHHUXKHWDSSDUDDWXLWHONDDUKDDOWRI
HUZLM]LJLQJHQRSDDQEUHQJWNDQJHYDDUYRRUEUDQGRIHOHNWULVFKHVFKRNNHQRQWVWDDQ
0DDNQRRLWGHEHKXL]LQJRSHQ
1HHPYRRUUHSDUDWLHRIUHLQLJLQJYDQKHWLQZHQGLJHYDQGHSURMHFWRUFRQWDFWRSPHW
XZGHDOHU
6WHOGHSURMHFWRUQLHWDDQVWRWHQRIVFKRNNHQEORRW
$OVGH SURMHFWRU DDQVWRWHQ RI VFKRNNHQZRUGW EORRWJHVWHOG NDQGH]H EHVFKDGLJG ZRUGHQHQ
HYHQWXHHOOHWVHOYHURRU]DNHQ%RYHQGLHQEHVWDDWGHNDQVRSEUDQGRIHHQHOHNWULVFKHVFKRN
$OVGH SURMHFWRU JHYDOOHQLVRI LHWV GHUJHOLMNVPRHW X GH]HPHWHHQXLWVFKDNHOHQ GH
VWHNNHUXLWKHWVWRSFRQWDFWWUHNNHQHQFRQWDFWRSQHPHQPHWXZGHDOHU
=HWGHSURMHFWRUQLHWRSHHQRQVWDELHOHRQGHUJURQG
$OVGHSURMHFWRUYDOWNDQGH]HEHVFKDGLJGZRUGHQHQHYHQWXHHO OHWVHOYHURRU]DNHQ
%RYHQGLHQEHVWDDWGHNDQVRSEUDQGRIHHQHOHNWULVFKHVFKRN
=HWGHSURMHFWRUQLHWRSHHQRQVWDELHOVFKXLQRIWULOOHQGRSSHUYODN]RDOVHHQZDQNHO
RIVFKXLQDIORSHQGWDIHOWMH
9HUJUHQGHOGH]ZHQNZLHOWMHVZDQQHHUXGHSURMHFWRURSHHQWDIHOWMHPHW
]ZHQNZLHOWMHVSODDWVW

3ODDWVGHSURMHFWRUQLHWPHWGH]LMNDQWQDDUERYHQGHOHQVQDDUERYHQRIGHOHQVQDDUEHQHGHQ
9RRUSODIRQGLQVWDOODWLHRILHWVGHUJHOLMNVUDDGSOHHJXZGHDOHUYRRULQVWDOODWLH
7UHNGH
VWHNNHUXLWKHW
VWRSFRQWDFW
1LHW
GHPRQWHUHQ
9HLOLJKHLGVPDDWUHJHOHQYHUYROJ
:$$56&+8:,1*
:HHVYRRU]LFKWLJGHSURMHFWRUJHHIWYHHOKLWWHDI
:DQQHHUGHODPSEUDQGWJHHIWGHSURMHFWRUYHHOKLWWHDI(UEHVWDDWNDQVRSEUDQGHQ
XNXQW]LFKYHUEUDQGHQ:HHVYRRUDOYRRU]LFKWLJZDQQHHUHUNLQGHUHQLQGHEXXUW]LMQ
5DDNGHOHQVGHYHQWLODWRUVHQGHYHQWLODWLHRSHQLQJHQQLHWDDQWLMGHQVJHEUXLNRI
PHWHHQQDJHEUXLNRPYHUEUDQGLQJWHYRRUNRPHQ=RUJHUYRRUGDWGHYHQWLODWLHQLHW
EHOHPPHUGZRUGW
+RXGWHQPLQVWHFPUXLPWHYULMWXVVHQGH]LMNDQWYDQGHSURMHFWRUHQGHPXXUHG
3ODDWVGHSURMHFWRUQLHWRSHHQPHWDOHQWDIHORIRSHHQRSSHUYODNGDW]DFKWZRUGWELM
KLWWH
3ODDWVJHHQYRRUZHUSHQ GLFKW ELM GH OHQV GH YHQWLODWRUV RIGH YHQWLODWLHRSHQLQJHQ
YDQGHSURMHFWRU
/HWRSGDWGHYHQWLODWRUVHQGHYHQWLODWLHRSHQLQJHQQLHWJHEORNNHHUGZRUGHQ
/HJJHHQWDIHONOHHGHGRYHUGHSURMHFWRU
=HWGHSURMHFWRUQLHWRSHHQYORHUNOHHGRIEHG
.LMNQRRLWLQGHOHQVRIGHRSHQLQJHQZDQQHHUGHODPSEUDQGW
+HWVWHUNHOLFKWNDQXZJH]LFKWVYHUPRJHQEHVFKDGLJHQ:HHVYRRUDO YRRU]LFKWLJ
ZDQQHHUHUNLQGHUHQLQGHEXXUW]LMQ
*HEUXLNDOOHHQKHWMXLVWHQHWVQRHUHQVOXLWGLWDDQRSHHQ
VWRSFRQWDFWPHWGHMXLVWHVSHFLILFDWLHV
*HEUXLNRSGHYHUNHHUGHVWURRPYRRU]LHQLQJNDQUHVXOWHUHQLQEUDQGRIHHQHOHNWULVFKH
VFKRN
'HSURMHFWRUPDJDOOHHQZRUGHQDDQJHVORWHQRSHHQVWRSFRQWDFWGDWYROGRHWDDQGH
VWURRPVSHFLILFDWLHVGLHRSKHWDSSDUDDWVWDDQ
*HEUXLNKHWMXLVWHQHWVQRHUYRRUKHWVWRSFRQWDFWZDDURSXGHSURMHFWRUDDQVOXLW
6OXLWKHWQHWVQRHU]RUJYXOGLJDDQ
(HQYHUNHHUGHDDQVOXLWLQJYDQKHWQHWVQRHUNDQUHVXOWHUHQLQEUDQGRIHHQHOHNWULVFKH
VFKRN
5DDNKHWQHWVQRHUQLHWPHWQDWWHKDQGHQDDQ
&RQWUROHHURIGHVWHNNHUYDQKHWQHWVQRHUVFKRRQLVJHHQVWRIYRRUGDWXGH]H
DDQVOXLW*HEUXLNHHQ]DFKWGURRJGRHNMHRPGHVWHNNHUVFKRRQWHPDNHQ
6WHHNGHVWHNNHUVWHYLJLQKHWVWRSFRQWDFW*HEUXLNHHQMXLVWZHUNHQGGHJHOLMN
VWRSFRQWDFW
8PRHWGHDDUGGUDDGDDQVOXLWHQ
6OXLWKHWDSSDUDDWYLDKHWQHWVQRHUDDQRSGHDDUGLQJVGUDDGYDQKHWJHERXZ
ZDQQHHUKHWDSSDUDDWQLHWJHDDUGZRUGWNDQJHYDDUYRRUEUDQGRIHOHNWULVFKH
VFKRNNHQRQWVWDDQ
*HEUXLNJHHQWZHHDGHULJYHUOHQJVQRHU
&RQWUROHHURI
GHDDUGLQJNDEHO
JRHGFRQWDFW
PDDNW
1('(5/$1'6
9HLOLJKHLGVPDDWUHJHOHQYHUYROJ
:$$56&+8:,1*
%HKDQGHOGHOLFKWEURQODPSYRRU]LFKWLJ
'HSURMHFWRU PDDNW JHEUXLN YDQ HHQ NZLNKRXGHQGH JOD]HQKRJHGUXNODPS
'HODPSNDQPHWHHQOXLGHNQDOVSULQJHQRIGRRUEUDQGHQ:DQQHHUGHODPS
NDSRWVSULQJWLVKHWPRJHOLMNGDWJODVVFKHUYHQLQGHODPSEHKXL]LQJWHUHFKW
NRPHQHQGDWNZLNKRXGHQGJDVXLWGHYHQWLODWLHRSHQLQJHQYDQGHSURMHFWRU
YULMNRPW
/HHV]RUJYXOGLJGHSDUDJUDDI³/DPS´
%HKDQGHOKHWQHWVQRHUHQGHDDQVOXLWNDEHOVYRRU]LFKWLJ
:DQQHHUXHHQEHVFKDGLJGQHWVQRHURIHHQEHVFKDGLJGHDDQVOXLWNDEHO
JHEUXLNWNDQGLWEUDQGRIHHQHOHNWULVFKHVFKRNYHURRU]DNHQ/HWHURS
GDWKHWQHWVQRHUHQGHDDQVOXLWNDEHOVQLHWDDQWHJURWHKLWWHZRUGHQ
EORRWJHVWHOG'UXNKHWVQRHU HQ GH NDEHOV QLHWNOHPHQWUHN]HRRNQLHWWH
VWUDN
1HHPFRQWDFWRSPHWXZGHDOHUDOVKHWQHWVQRHURIGHDDQVOXLWNDEHOV
EHVFKDGLJG]LMQEORRWOLJJHQGHRIJHEURNHQNHUQGUDDGMHVHG
=HWQLHWGHSURMHFWRURIHHQDQGHU]ZDDUYRRUZHUSRSKHWQHWVQRHURIGH
DDQVOXLWNDEHOV/HJRRNJHHQVSUHLGHNHQHGRYHUKHWQHWVQRHU RI GH
NDEHOVZDQWGDQLVKHWPRJHOLMNGDWXSHURQJHOXNHHQ]ZDDUYRRUZHUSRS
KHWVQRHURIGHNDEHOVSODDWVW
7UHNQLHWDDQKHWQHWVQRHURIGHDDQVOXLWNDEHOV3DNELMKHWDDQVOXLWHQRI
ORVPDNHQYDQKHWQHWVQRHURIGHDDQVOXLWNDEHOVDOWLMGGHVWHNNHURISOXJPHW
XZKDQGYDVW
/HJKHWQHWVQRHUQLHWLQGHEXXUWYDQHHQYHUZDUPLQJ
=RUJGDWKHWQHWVQRHUQLHWWHVWHUNJHERJHQZRUGW
3UREHHUQRRLW]HOIUHSDUDWLHVDDQKHWQHWVQRHUXLWWHYRHUHQ
%HKDQGHOGHEDWWHULMYDQGHDIVWDQGVEHGLHQLQJYRRU]LFKWLJ
(HQYHUNHHUGHEHKDQGHOLQJYDQGHEDWWHULMNDQUHVXOWHUHQLQEUDQGRIOHWVHO
'HEDWWHULMNDQ]HOIVRQWSORIIHQLQGLHQGH]HQLHWMXLVWZRUGWEHKDQGHOG
+RXGGHEDWWHULM XLW GH EXXUW YDQNLQGHUHQHQKXLVGLHUHQ$OVGHEDWWHULM
ZRUGWDIJHVOLNWPRHWXPHWHHQGHKXOSYDQHHQDUWVLQURHSHQYRRU
VSRHGEHKDQGHOLQJ
=RUJGDWGHEDWWHULMQLHWLQZDWHURIYXXUWHUHFKWNRPW
9HUPLMGRPJHYLQJHQPHWHHQKRJHWHPSHUDWXXURIRSHQYXXU
3DNGHEDWWHULMQLHWPHWHHQPHWDOHQSLQFHWYDVW
%HZDDUGHEDWWHULMRSHHQGRQNHUHNRHOHHQGURJHSODDWV
=RUJGDWXGHEDWWHULMQLHWNRUWVOXLW
3UREHHUGHEDWWHULMQLHWRSWHODGHQWHGHPRQWHUHQRIWHVROGHUHQ
6WHOGHEDWWHULMQLHWDDQKDUGHVFKRNNHQRIVWRWHQEORRW
*HEUXLNDOOHHQODPSHQPHWVSHFLILFDWLHVGLHRYHUHHQNRPHQPHWGLH
YHUPHOG]LMQLQGHDQGHUHKDQGOHLGLQJELMGHSURMHFWRU
=RUJHU ELMKHWDDQEUHQJHQYDQGHEDWWHULM YRRUGDWGHSOXVHQPLQ LQGH
MXLVWHULFKWLQJ]LMQJHNHHUG
$OVGH EDWWHULM KHHIWJHOHNW PRHW X GH EDWWHULMKRXGHU JRHG VFKRRQPDNHQ
HQGHEDWWHULMYHUYDQJHQ$OVKHWSRHGHUDDQXZKXLGRINOHGLQJEOLMIWKDQJHQ
PRHWXGLWJURQGLJPHWZDWHUDIVSRHOHQ
9ROJGHSODDWVHOLMNHZHWJHYLQJYRRUKHWZHJJRRLHQYDQJHEUXLNWHEDWWHULMHQ
9HLOLJKHLGVPDDWUHJHOHQYHUYROJ
/(723
:HHVYRRU]LFKWLJZDQQHHUXGHSURMHFWRUYHUYRHUW
:DQQHHUXQLHWYRRU]LFKWLJWHZHUNJDDWNDQOHWVHORIEHVFKDGLJLQJZRUGHQ
YHURRU]DDNW

9HUSODDWVGHSURMHFWRUQLHWWLMGHQVJHEUXLN$OYRUHQVXGHSURMHFWRUYHUSODDWVWPDDNWX
KHWQHWVQRHUHQDOOHDDQVOXLWNDEHOVORVHQVFKXLIWXKHWOHQVNDSMHRIGHOHQVGRSGLFKW
/HWRSGDWXGHSURMHFWRUQLHWDDQHHQKDUGHVWRRWRIVFKRNEORRWVWHOW
9HUSODDWVGHSURMHFWRUQLHWGRRUKHPWHVOHSHQ
9HUYRHUKHWDSSDUDDWDOWLMGLQGHPHHJHOHYHUGHWDVRIHHQDQGHUHVROLGHYHUSDNNLQJ
=HWQLHWVERYHQRSGHSURMHFWRU
:DQQHHUXLHWVERYHQRSGHSURMHFWRU]HWNDQGHSURMHFWRUYHUVFKXLYHQRIYDOOHQPHW
OHWVHORIEHVFKDGLJLQJWRWJHYROJ:HHVYRRUDOYRRU]LFKWLJZDQQHHUHUNLQGHUHQLQGH
EXXUW]LMQ
%HYHVWLJQLHWVDQGHUVGDQGHJHVSHFLILFHHUGH]DNHQRSGHSURMHFWRU
1DODWLJKHLGNDQWRWYHUZRQGLQJHQRIVFKDGHVOHLGHQ
6RPPLJHSURMHFWRUHQKHEEHQHHQVFKURHIGUDDGLQKHWOHQVJHGHHOWH%HYHVWLJQLHWV
DQGHUVGDQGHJHVSHFLILFHHUGHRSWLHV]RDOVHHQRSWLRQHOHFRQYHUVLHOHQVRSGH
VFKURHIGUDDG
*HEUXLNKHWDSSDUDDWQLHWLQHHQURNHULJHYRFKWLJHRIVWRIILJH
RPJHYLQJ
:DQQHHUXGHSURMHFWRULQHHQURNHULJHYRFKWLJHVWRIILJHPHWROLHGDPSRIELMWHQGJDV
YHUYXLOGHUXLPWHJHEUXLNWNDQJHYDDUYRRUEUDQGRIHOHNWULVFKHVFKRNNHQRQWVWDDQ
3ODDWVGHSURMHFWRUQLHWLQGHEXXUWYDQHHQURNHULJHYRFKWLJHRIVWRIILJHUXLPWHELMY
HHQURNHUVSOHNHHQNHXNHQKHWVWUDQGHWF*HEUXLNGHSURMHFWRUQLHWEXLWHQVKXLV
*HEUXLNJHHQOXFKWEHYRFKWLJHULQGHEXXUWYDQGHSURMHFWRU
=RUJHUYRRUGDWKHWOXFKWILOWHULQJRHGHFRQGLWLHLV
+HWOXFKWILOWHU PRHWUHJHOPDWLJZRUGHQVFKRRQJHPDDNW$OVGHOXFKWVWURRPZRUGW
JHKLQGHUGGRRU VWRIRSKRSLQJ RSKHW ILOWHUNDQGH SURMHFWRURYHUYHUKLWUDNHQ 'LWNDQ
VWRULQJHQWRWJHYROJKHEEHQ2SGHSURMHFWRUNDQHHQPHOGLQJ]RDOV&21752/((5
/8&+7675220RIVFKDNHOGHSURMHFWRUXLWZRUGHQZHHUJHJHYHQRPWHYRRUNRPHQ
GDWGHWHPSHUDWXXULQKHWDSSDUDDWWHKRRJRSORRSW
5HLQLJDOVGHYHUNOLNNHUODPSHQRIHHQPHOGLQJXHURSDWWHQWPDNHQGDWXKHW
OXFKWILOWHUPRHWUHLQLJHQKHWOXFKWILOWHU]RVQHOPRJHOLMN
9HUYDQJKHWOXFKWILOWHUDOVKHWQLHWPHHUJHUHLQLJGNDQZRUGHQRIZDQQHHUKHW
EHVFKDGLJGLV

*HEUXLNDOOHHQHHQOXFKWILOWHUYDQKHWYRRUJHVFKUHYHQW\SH*HEUXLNDOOHHQHHQOXFKWILOWHU
PHWGHVSHFLILFDWLHV]RDOVGLH]LMQYHUPHOGLQGHDQGHUHKDQGOHLGLQJELMGH]HSURMHFWRU
9HUYDQJZDQQHHUXGHODPSYHUYDQJWRRNDOWLMGKHWOXFKWILOWHU+HWOXFKWILOWHUZRUGWELM
VRPPLJHYHUYDQJLQJVODPSHQYRRUGH]HSURMHFWRUPHHJHOHYHUG
6FKDNHO GHYRHGLQJVVSDQQLQJ YDQGH SURMHFWRUQRRLWDOVHUJHHQOXFKWILOWHULQ KHW
DSSDUDDWJHSODDWVWLV
9HUPLMGRSVWHOOLQJLQHHQRPJHYLQJPHWKRJHWHPSHUDWXUHQ
'HKLWWHNDQHHQQDGHOLJHLQYORHGKHEEHQRSGHEHKXL]LQJHQGHLQWHUQHRQGHUGHOHQ
YDQGH SURMHFWRU 6WHOGH SURMHFWRU GHDIVWDQGVEHGLHQLQJ HQGHDQGHUH RQGHUGHOHQ
QLHWDDQGLUHFW ]RQOLFKWEORRWHQ KRXG]HXLW GHEXXUWYDQKLWWHEURQQHQ]RDOVHHQ
YHUZDUPLQJVUDGLDWRUHG
7UHNGHVWHNNHUXLWKHWVWRSFRQWDFWZDQQHHUGHSURMHFWRU
ODQJHUHWLMGQLHWZRUGWJHEUXLNW
2PYHLOLJKHLGVUHGHQHQPRHWXGHVWHNNHUXLWKHWVWRSFRQWDFWWUHNNHQZDQQHHUXGH
SURMHFWRUODQJHUHWLMGQLHWGHQNWWHJHEUXLNHQ
9RRUGDWXGHSURMHFWRUJDDWVFKRRQPDNHQPRHWXGH]HXLWVFKDNHOHQHQGHVWHNNHU
XLWKHWVWRSFRQWDFWWUHNNHQ'LWRPEUDQGRIHHQHOHNWULVFKHVFKRNWH
YRRUNRPHQ
7UHNGH
VWHNNHUXLWKHW
VWRSFRQWDFW
1('(5/$1'6
9HLOLJKHLGVPDDWUHJHOHQYHUYROJ
230(5.,1*(1
6WHOGHDIVWDQGVEHGLHQLQJQLHWDDQVFKRNNHQEORRW
+DUGHVWRWHQRIVFKRNNHQNXQQHQUHVXOWHUHQLQHHQGHIHFWRIEHVFKDGLJLQJYDQGHDIVWDQGVEHGLHQLQJ
/DDWGHDIVWDQGVEHGLHQLQJQLHWYDOOHQ
=HWQLHWGHSURMHFWRURIHHQDQGHU]ZDDUYRRUZHUSRSGHDIVWDQGVEHGLHQLQJ
9HU]RUJLQJYDQGHOHQV
:DQQHHUGHSURMHFWRUQLHWJHEUXLNWZRUGWPRHWXKHWOHQVNDSMH
RIGHOHQVGRSGLFKW
GLFKWVFKXLYHQRP
NUDVVHQRSGHOHQVWHYRRUNRPHQ
5DDNGHOHQVQLHWDDQRPYOHNNHQRIYXLORSGHOHQVWHYRRUNRPHQKHWJHHQUHVXOWHHUWLQHHQPLQGHU
JRHGHEHHOGNZDOLWHLW
*HEUXLNHHQLQGHKDQGHOYHUNULMJEDDUOHQVUHLQLJLQJVGRHNMHRPGHOHQVVFKRRQWHPDNHQ]RDOVHHQ
UHLQLJLQJVGRHNMHYRRUFDPHUDOHQ]HQEULOOHQJOD]HQHG:HHVYRRU]LFKWLJGDWXJHHQNUDVVHQRSGH
OHQVPDDNW
9HU]RUJLQJYDQGHSURMHFWRUEHKXL]LQJHQGHDIVWDQGVEHGLHQLQJ
%LMHHQYHUNHHUGHEHKDQGHOLQJNDQYHUNOHXUHQDIVFKLOIHUHQHGRSWUHGHQ
*HEUXLNHHQ]DFKWHGRHNRPGHEHKXL]LQJHQKHWEHGLHQLQJVSDQHHOYDQGHSURMHFWRUHQGH
DIVWDQGVEHGLHQLQJVFKRRQWHPDNHQ9RRUKHWYHUZLMGHUHQYDQKDUGQHNNLJYXLONDQHHQ]DFKWH
GRHNEHYRFKWLJGPHWHHQPLOGUHLQLJLQJVPLGGHOYHUGXQGPHWZDWHUZRUGHQJHEUXLNW:ULQJGH
GRHNJRHGXLWYRRUGDWX EHJLQWHQZULMI PHWHHQGURJH]DFKWHGRHN QD*HEUXLNJHHQRQYHUGXQG
UHLQLJLQJVPLGGGHO
*HEUXLNJHHQDsURVROVSUD\VRSORVPLGGHOHQVFKXXUPLGGHOHQRIDQGHUHELMWHQGHUHLQLJLQJVPLGGHOHQ
/HHV]RUJYXOGLJGHLQVWUXFWLHVRSKHWUHLQLJLQJVPLGGHOYRRUGDWXGLWJHEUXLNW
9HUPLMGODQJGXULJFRQWDFWPHWUXEEHURIYLQ\O
=RZDWNLFKWHRIGRQNHUHYOHNNHQ
2IVFKRRQHUOLFKWHRIGRQNHUHYOHNNHQRSKHWVFKHUPNXQQHQYHUVFKLMQHQZDWHHQXQLHNNDUDNWHULVWLHN
NHQPHUNLVYDQOLTXLGFU\VWDOGLVSOD\VEHWHNHQWGLWQLHWGDWKHWDSSDUDDWVWXNLV
:HHVEHGDFKWRSGHHYHQWXHOHZHHUJDYHYDQKHW/&'SDQHHO
3URMHFWHHUWGHSURMHFWRUYRRUODQJHUHWLMGHHQVWLOVWDDQGEHHOGLQDFWLHYHEHHOGHQEHHOGHQPHW
HHQEHHOGYHUKRXGLQJYDQYDQSDQHHORILHWVGHUJHOLMNVRIJHHIWGHSURMHFWRUGHEHHOGHQ
KHUKDDOGHOLMNZHHUGDQLVKHWPRJHOLMNGDWKHW/&'SDQHHOZRUGWZHHUJHJHYHQ
/DDWLQHHQGHUJHOLMNJHYDOGHSURMHFWRUXXUODQJRIODQJHUHHQJHKHHOZLWVFKHUPSURMHFWHUHQ8NXQW
GDDUYRRUGH%/$1&2IXQFWLHYDQGHSURMHFWRUJHEUXLNHQ
2YHUYHUEUXLNVDUWLNHOHQ
'HOHYHQVGXXUYDQGHODPSGH/&'SDQHOHQGHSRODULVDWRUVHQDQGHUHRSWLVFKFRPSRQHQWHQKHW
OXFKWILOWHUHQGHNRHOLQJVYHQWLODWRUHQLV YHUVFKLOOHQG 'H]HRQGHUGHOHQPRHWHQZRUGHQYHUYDQJHQ
QDGDWKHWDSSDUDDWJHGXUHQGHHHQEHSDDOGHWLMGJHEUXLNW1HHPYRRUPHHULQIRUPDWLHFRQWDFWRSPHW
XZOHYHUDQFLHU
%HKDOYHELMKHWKHOOHQGRRUGHDDQSDVVLQJYDQKHWVWHOYRHWMHSODDWVGHSURMHFWRUKRUL]RQWDDO
+HWKHOOHQ]RXGHOHYHQVGXXUYDQGHRQGHUGHOHQNXQQHQYHUNRUWHQ
2QDIJHEURNHQODQJGXULJJHEUXLNNDQGHOHYHQVGXXUEHSHUNHQYDQGHDDQVOLMWDJHRQGHUKHYLJH
RQGHUGHOHQ
/(723
/DDWXZGHDOHULHGHUHWZHHMDDUKHWLQZHQGLJHYDQGHSURMHFWRU
VFKRRQPDNHQ
2SHHQKRSLQJYDQVWRI LQ GHSURMHFWRUNDQ UHVXOWHUHQ LQ EUDQGRIHHQ GHIHFW 8NXQW
KHWLQZHQGLJHYDQGHSURMHFWRUKHWEHVWHODWHQVFKRRQPDNHQLHGHUHNHHUYRRUGDWHHQ
YRFKWLJVHL]RHQEHJLQWELMYGHUHJHQWLMGLQWURSLVFKHODQGHQ
0DDNKHWLQZHQGLJHYDQGHSURMHFWRUQLHW]HOIVFKRRQZDQWGLWLVJHYDDUOLMN
9HLOLJKHLGVPDDWUHJHOHQYHUYROJ
230(5.,1*(1
9RRUGDWXGHVWURRPDDQ]HWODDWGHSURMHFWRUYROGRHQGHDINRHOHQ
1DKHWXLW]HWWHQYDQGHSURMHFWRUKHWLQGUXNNHQYDQGHUHVWDUWVFKDNHODDURIKHW
RQGHUEUHNHQYDQGHVWURRPWRHYRHUODDWGDQGHSURMHFWRUYROGRHQGHDINRHOHQ
%HGLHQLQJELMHHQKRJHWHPSHUDWXXUYDQGHSURMHFWRUNDQVFKDGHYHURRU]DNHQYDQHHQ
HOHFWURGHRIQLHWYHUOLFKWHQYDQGHODPS
9HUPLMGVWHUNHOLFKWVWUDOHQ
=RUJGDWJHHQVWHUNHOLFKWVWUDOHQ]RDOVGLUHFW]RQOLFKWRIKHWOLFKWYDQHHQVWHUNHODPSRS
GHDIVWDQGVEHGLHQLQJVVHQVRUVYDOOHQZDQWGDQ]DOGHDIVWDQGVEHGLHQLQJQLHWZHUNHQ
9HUPLMGKRRJIUHTXHQWVWRULQJHQ
%LMKRRJIUHTXHQWVWRULQJHQNDQKHWEHHOGRIJHOXLGZRUGHQDDQJHWDVW
9HUPLMGKHWJHEUXLNYDQHHQKRRJIUHTXHQWJHQHUDWRU]RDOVHHQPRELHOHWHOHIRRQ
]HQGRQWYDQJHUHGLQGHEXXUWYDQGHSURMHFWRU
%HWUHIIHQGHGHZHHUJDYHNZDOLWHLW
'HZHHUJDYHNZDOLWHLWYDQGHSURMHFWRU]RDOVGHNOHXUKHWFRQWUDVWHQ]ZRUGWHYHQHHQV
EHSDDOGGRRUGHHLJHQVFKDSSHQYDQKHWVFKHUPZDQWGHSURMHFWRUPDDNWJHEUXLNYDQHHQ
/&'SDQHHO+HWZHHUJDYHEHHOG NDQYHUVFKLOOHQYDQKHWEHHOG YRRUWJHEUDFKWGRRUHHQ
EHHOGEXLV
*HEUXLNJHHQJHSRODULVHHUGVFKHUPZDQWGLWNDQHHQURRGEHHOGJHYHQ
6FKDNHOGHDSSDUDWXXULQGHMXLVWHYROJRUGHLQHQXLW
2PVWRULQJHQWHYRRUNRPHQPRHWXGHSURMHFWRUHQGHDQGHUHDSSDUDWXXULQGH
RQGHUVWDDQGHYROJRUGHLQHQXLWVFKDNHOHQWHQ]LMDQGHUVDDQJHJHYHQ
6FKDNHOHHUVWGHSURMHFWRULQHQGDQGHFRPSXWHURIYLGHRUHFRUGHU
6FKDNHOGHSURMHFWRUSDVXLWQDGDWXGHFRPSXWHURIYLGHRUHFRUGHUKHEWXLWJHVFKDNHOG
=RUJGDWXXZRJHQQLHWWH]HHUEHODVW
+HWYHUGLHQWDDQEHYHOLQJUHJHOPDWLJHHQUXVWSDX]HLQWHODVVHQ
6WHOGHJHOXLGVVWHUNWHQLHWWHKRRJLQRPRYHUODVWYRRUDQGHUHQWH
YRRUNRPHQ
6WHOGHJHOXLGVVWHUNWH]RGDQLJLQGDWHUJHHQRYHUODVWYRRUDQGHUHQZRUGWYHURRU]DDNW
$DQVOXLWHQRSHHQQRWHERRNFRPSXWHU
%LMKHWDDQVOXLWHQRSHHQQRWHERRNFRPSXWHUPRHWGHH[WHUQH5*%EHHOGXLWJDQJZRUGHQ
LQJHVFKDNHOGLQVWHOOLQJYRRU&57GLVSOD\RIJHOLMNWLMGLJ/&'HQ&57GLVSOD\
=LHGHJHEUXLNVDDQZLM]LQJYDQGHQRWHERRNFRPSXWHUYRRUYHUGHUHLQIRUPDWLH
1('(5/$1'6
/DPS
'HSURMHFWRUPDDNWJHEUXLNYDQHHQNZLNKRXGHQGHJOD]HQKRJHGUXNODPS'HODPSNDQ VSULQJHQ
PHWHHQOXLGHNQDORIGRRUEUDQGHQLQGLHQKLMZRUGWJHVWRWHQRIEHNUDVWZRUGWYDVWJHSDNWDOVKLM
KHHWLVRIRYHU]LMQOHYHQVGXXUKHHQLV+RXGHUUHNHQLQJPHHGDWHONHODPSHHQDQGHUHOHYHQVGXXU
KHHIWHQVRPPLJHNXQQHQDONRUWQDGDWX]HLQJHEUXLNKHHIWJHQRPHQVSULQJHQRIGRRUEUDQGHQ
:DQQHHU GH ODPSNDSRWVSULQJWLVKHWERYHQGLHQPRJHOLMNGDW
JODVVFKHUYHQLQGHODPSEHKXL]LQJ
WHUHFKWNRPHQHQGDWNZLNKRXGHQGJDVXLWGHYHQWLODWLHRSHQLQJHQYDQGHSURMHFWRUXLWWUHHGW
2YHUKHWZHJJRRLHQYDQHHQODPS
'LWSURGXNWEHYDWHHQPHUFXU\ODPSKDQWHHUGH]HQLHW
DOVJHZRRQDIYDO9HUZHUNLQRYHUHHQVWHPPLQJPHWPLOLHXZHWWHQ
9RRULQIRUPDWLHRYHUUHFO\FLQJYDQGHODPSJDQDDUZZZODPSUHF\FOHRUJLQGH9HUHQLJGH6WDWHQ
9RRUYHUZHUNLQJ YDQ GLW SURGXFWQHHPFRQWDFWRSPHWXZ ORFDOH RYHUKHLGVLQVWDQWLHRIJDQDDUZZZ
HLDHRUJLQGH9HUHQLJGH6WDWHQRIZZZHSVFFDLQ&DQDGD
9RRUPHHULQIRUPDWLHNXQWXFRQWDFWRSQHPHQXZ9HUNRRSNDQWRRU

0RFKWGHODPSNDSRWVSULQJHQXKRRUWGDQHHQOXLGHNQDOKDDOGDQGHVWHNNHUXLWKHW
VWRSFRQWDFWHQ]RUJHUYRRUGDWELMXZSODDWVHOLMNHGHDOHUHHQQLHXZHODPSZRUGWEHVWHOG
+RXGHUUHNHQLQJPHHGDWVWXNMHVJODVKHWELQQHQVWHYDQGHSURMHFWRUNXQQHQ
EHVFKDGLJHQRIYHUZRQGLQJHQNXQQHQYHURRU]DNHQELMKHWYDVWSDNNHQHUYDQ
3UREHHUGXVQLHWGHSURMHFWRUWHUHLQLJHQRIGHODPS]HOIWHYHUYDQJHQ
0RFKWGHODPSNDSRWJDDQXKRRUWGDQHHQOXLGHNQDOYHQWLOHHU
GDQJURQGLJGHUXLPWHHQ]RUJHUYRRUGDWXKHWJDVGDWXLWGH
YHQWLODWLHRSHQLQJHQNRPWQLHWLQDGHPWRILQXZRJHQRIPRQGNULMJW

9HU]HNHUWX]LFKHUYyyUYHUYDQJLQJYDQGHODPSYDQGDWGHVWURRPXLWJHVFKDNHOG
LVHQ GDW GHVWURRPNDEHO QLHW LQJHSOXJGLV :DFKWYHUYROJHQV  PLQXWHQ RPGH
ODPSWHODWHQDINRHOHQ+HWYDVWSDNNHQYDQHHQKHWHODPSNDQYHUEUDQGLQJHQ
YHURRU]DNHQHQGHODPSEHVFKDGLJHQ

2SHQQLHWKHWNOHSMHYDQGHODPSZDQQHHUGHSURMHFWRULVRSJHKDQJHQDDQ
KHWSODIRQG'DWLVJHYDDUOLMN:DQQHHUGHODPSJHVSURQJHQLVNXQQHQHU
JODVVFKHUYHQRPODDJYDOOHQZDQQHHUGHNOHSZRUGWJHRSHQG%RYHQGLHQLVKHW
ZHUNHQRSKRRJWHJHYDDUOLMN9UDDJGXVXZSODDWVHOLMNHGHDOHURPGHODPSWH
YHUYDQJHQ]HOIVZDQQHHUGHODPSQLHWLVJHVSURQJHQ

*HEUXLNGHSURMHFWRUQLHWZDQQHHUGHDIGHNNOHSYDQGHODPSQLHWJHSODDWVWLV/HW
HUELMKHWYHUYDQJHQYDQGHODPSRSGDWGHVFKURHYHQVWHYLJLQJHGUDDLG]LMQ/RVVH
VFKURHYHQNXQQHQOHLGHQWRWEHVFKDGLJLQJHQRISHUVRRQOLMNOHWVHO
*HEUXLNDOOHHQODPSHQYDQKHWJHVSHFLILFHHUGHW\SH

:DQQHHUGHODPSDONRUWQDKHWHHUVWHJHEUXLNVSULQJWLVKHWPRJHOLMNGDWHU
HOHNWULVFKHSUREOHPHQ]LMQGLHQLHWPHWGHODPS]HOIWHPDNHQKHEEHQ0RFKWGLW
JHEHXUHQQHHPGDQFRQWDFWRSPHWXZSODDWVHOLMNHGHDOHURIVHUYLFHPHGHZHUNHU
:HHVYRRU]LFKWLJVWRWHQRINUDVVHQ]RXGHQ NXQQHQUHVXOWHUHQLQKHW
VSULQJHQYDQGHODPSWLMGHQVJHEUXLN
,
QGLHQGHLQGLFDWLHVRIHHQ EHULFKWXYUDJHQGHODPSWHYHUYDQJHQ]LHSDUDJUDDI
³JHUHODWHHUGHEHULFKWHQ´ HQ ³2YHUGH LQGLFDWLHODPSMHV´ YHUYDQJ GDQ GHODPS ]R VQHO
PRJHOLMN
%LMODQJGXULJJHEUXLNYDQGHODPSRIJHEUXLNQDGHYHUYDQJLQJVGDWXPNDQGHODPS
VSULQJHQ*HEUXLNJHHQRXGHJHEUXLNWHODPSHQGLWNDQNDSRWVSULQJHQYHURRU]DNHQ
:$$56&+8:,1*
+22*63$11,1*
+2*(7(03(5$7885
+2*('58.
+DDOGH
VWHNNHUXLWKHW
VWRSFRQWDFW
0HGHGHOLQJHQRYHUUHJHOJHYLQJHQ
:$$56&+8:,1*
'H]HDSSDUDWXXUJHQHUHHUWHQJHEUXLNWHQHUJLHRSUDGLRIUHTXHQWLHV
HQVWUDDOWGH]HXLW,QGLHQ]LMQLHWZRUGWJHwQVWDOOHHUGHQJHEUXLNWLQRYHUHHQVWHPPLQJ
PHWGH LQVWUXFWLHV NDQ]LM VFKDGHOLMNH LQWHUIHUHQWLHV LQUDGLRFRPPXQLFDWLHV YHURRU]DNHQ
(ULVHFKWHUJHHQJDUDQWLHGDWLQWHUIHUHQWLH]LFKELMHHQEHSDDOGHLQVWDOODWLHQLHW]DO
YRRUGRHQ,QGLHQGH]HDSSDUDWXXUGHUDGLRRIWHOHYLVLHRQWYDQJVWVWRRUW± KHWJHHQNDQ
ZRUGHQEHSDDOG GRRUGHDSSDUDWXXUDDQ HQXLWWHVFKDNHOHQ ±GDQZRUGWGH JHEUXLNHU
DDQJHPRHGLJGRPGHLQWHUIHUHQWLH PHWEHKXOSYDQppQRIPHHUGHUHYDQGHYROJHQGH
PDDWUHJHOHQRSWHKHIIHQ
+HURULsQWHHURIKHUSODDWVGHRQWYDQJVWDQWHQQH
9HUJURRWGHDIVWDQGWXVVHQGHDSSDUDWXXUHQGHRQWYDQJHU
6OXLWGHDSSDUDWXXUDDQRSHHQVWRSFRQWDFWYDQHHQDQGHUFLUFXLWGDQZDDURSGH
RQWYDQJHULVDDQJHVORWHQ
5DDGSOHHJGHGHDOHURIYUDDJHHQHUYDUHQUDGLR79WHFKQLFXVRPKXOS
,16758&7,(69225*(%58,.(56,QVRPPLJHJHYDOOHQPRHWHQNDEHOVPHW
HHQNHUQGUDDGZRUGHQ JHEUXLNW *HEUXLNGHPHHJHOHYHUGHNDEHORIHHQ NDEHO YDQHHQ
YRRUJHVFKUHYHQW\SHYRRUGHDDQVOXLWLQJ%LMNDEHOVPHWHHQNHUQDDQVOHFKWVppQYDQGH
XLWHLQGHQPRHWGHNHUQ]LMGHDDQGHSURMHFWRUZRUGHQDDQJHVORWHQ
*DUDQWLHHQVHUYLFH
5DDGSOHHJZDQQHHU HU HHQVWRULQJ LV RSJHWUHGHQDQGHUV GDQ GRRU DEQRUPDDO JHEUXLN
]RDOVLVEHVFKUHYHQLQGHHHUVWHSDUDJUDDIYDQKHWKRRIGVWXN:$$56&+8:,1*LQ
GH]HKDQGOHLGLQJHHUVWGHSDUDJUDDI6WRULQJHQ9HUKHOSHQLQ GH *HEUXLNVDDQZLM]LQJ ±
*HEUXLNHUVKDQGOHLGLQJHQYRHUGHGDDUYRRUJHVWHOGHKDQGHOLQJHQXLW
1HHPDOVX KLHUPHHKHWSUREOHHPQLHWNXQWRSORVVHQ FRQWDFW RSPHWXZOHYHUDQFLHURI
RQGHUKRXGVGLHQVW'H]H]DOXPHHULQIRUPDWLHYHUVWUHNNHQ
1('(5/$1'6
2YHUGH]HJHEUXLNVDDQZLM]LQJ

&RQWHQWV
3URMHFWRUHLJHQVFKDSSHQ
2YHUGHLQKRXGYDQGHYHUSDNNLQJ

1DPHQRQGHUGHOHQ 
3URMHFWRU  
%HGLHQLQJHQ  
$IVWDQGVEHGLHQLQJ
9RRUEHUHLGLQJHQ 
+HWOHQVNDSMHSODDWVHQ 
%DWWHULMHQSODDWVHQ
*HEUXLNYDQGHDIVWDQGVEHGLHQLQJ

2YHUKHW¿OWHUDIGHNNDSMHYRRU
RQGHUVWHERYHQJHEUXLN
,QVWHOOHQ  
9RRU]LHQLQJHQ
'HQHLJLQJYDQGHSURMHFWRULQVWHOOHQ
 
8ZDSSDUDWHQDDQVOXLWHQ 
'HYRHGLQJDDQVOXLWHQ
 
9RHGLQJDDQXLW 
'HQHWYRHGLQJLQVFKDNHOHQ 
'HSURMHFWRUXLW]HWWHQ  
%HGLHQLQJ  
+HWYROXPHDDQSDVVHQ 
+HWJHOXLGWLMGHOLMNXLW]HWWHQ 
6HOHFWLHYDQHHQLQSXWVLJQDDO  
+HW]RHNHQYDQHHQLQSXWVLJQDDO
 
6HOHFWHUHQYDQHHQDVSHFWUDWLR 
$DQSDVVLQJYDQGH]RRP
YHUJURWLQJVVWHUNWH 
$DQSDVVLQJYDQIRFXV
 
'HDXWRPDWLVFKHLQVWHOOLQJJHEUXLNHQ
 
$DQSDVVHQYDQGHSRVLWLH 
&RUULJHUHQYDQWUDSH]LXPYHUYRUPLQJ
 
*HEUXLNYDQJHGHHOWHOLMNH
YHUJURWLQJVIXQFWLH  
7+HWEHHOGVWLO]HWWHQ 
7LMGHOLMNHHQ]ZDUWEHHOG  
0XOWLIXQFWLRQHOHLQVWHOOLQJHQ
 
*HEUXLNYDQGHPHQXIXQFWLH 
&RQWHQWV
&RQWHQWV
61(/0(18  
$63(&7=220.(<6721(02'86
+(/'(5&2175$67./(857,17
6&+(537(67,/)81&63,(*(/
5(6(7),/7(57,-'7$$/
*D1DDU*HDYDQFHHUG0HQX
0HQX)272 
+(/'(5&2175$67*$00$
./(857(03./(857,176&+(537(
352*5(66,*(+(8*(1
0HQX%((/' 
$63(&729(56&$19326,7
+326,7+)$6(+6,=(
$8720$$13$68,792(5(1
0HQX,1387 
./5209$1*9,'(2)250$7
67,/=(77(1,1)2
,167(//,1*PHQX 
=220
.(<6721(67,/)81&
63,(*(/92/80(
0HQX6&+(50 
7$$/3260(1826'+(/'(5
%/$1&22367$57(10LMQ6FKHUP
0LMQ6FK9DVW0(/',1*
0HQX237  
$8720=2(.(1$8728,7/$037,-'
),/7(57,-'63(&,167:
2QGHUKRXG 
/DPS 
/XFKW¿OWHU 
$QGHUH9HU]RUJLQJ 
6WRULQJHQYHUKHOSHQ 
6DPHQKDQJHQGHEHULFKWHQ 
,QIRUPDWLHRYHUGHLQGLFDWRUODPSHQ
 
9HUVFKLMQVHOHQGLHJHPDNNHOLMN
DDQJH]LHQZRUGHQDOVGHIHFWHQ 
*DUDQWLHHQVHUYLFH
 
7HFKQLVFKHJHJHYHQV 
3URMHFWRUHLJHQVFKDSSHQ2YHUGHLQKRXGYDQGHYHUSDNNLQJ
3URMHFWRUHLJHQVFKDSSHQ
'H]HSURMHFWRUZRUGWJHEUXLNWRPYHUVFKLOOHQGHFRPSXWHUVLJQDOHQHQRRN176&
3$/6(&$0YLGHRVLJQDOHQRSHHQVFKHUPWHSURMHFWHUHQ
+HWYHUHLVWVOHFKWVHHQ
NOHLQHUXLPWHYRRULQVWDOODWLHHQJHHIWHHQJURRWEHHOGYDQNRUWHDIVWDQG
+RJH+HOGHUKHLG
'HQLHXZRQWZLNNHOGH:8+%8OWUD+LJK%ULJKWQHVVODPSJHHIWHHQ
EHHOGRSHHQVFKHUPPHWKRJHUHKHOGHUKHLG+HWEHHOGNDQKHOGHUHQGXLGHOLMN
ZRUGHQJHKRXGHQRRNELMJHEUXLNLQNDPHUVPHWKRJHYHUOLFKWLQJVVWHUNWH
/DDJJHOXLG
'H67,/)81&PRGXVNDQZRUGHQJHEUXLNWRPKHWDNRHVWLVFKJHOXLGWH
UHGXFHUHQHQHHQVWLOOHUJHEUXLNWHUHDOLVHUHQ+HWLVSHUIHFWYRRUJHEUXLNLQ
NDPHUVPHWHHQODJHYHUOLFKWLQJVVWHUNWHZDDUODDJJHOXLGEHODQJULMNHULVGDQ
KHOGHUKHLG
&RPSDFWH%HKXL]LQJ
2RNDOKHHIWGH]HSURMHFWRUYHOHHLJHQVFKDSSHQKLMLVELM]RQGHUFRPSDFWHQ
GXQZDWXPHHUÀH[LELOLWHLWHQPRJHOLMNKHGHQJHHIWRPKHPWHJHEUXLNHQZDDU
XZLOW
2YHUGHLQKRXGYDQGHYHUSDNNLQJ
*HOLHYHGH³,QKRXGYDQGHYHUSDNNLQJ´LQGHµ*HEUXLNVDDQZLM]LQJ±%HNQRSWH
KDQGOHLGLQJ¶WHEHNLMNHQ8ZSURMHFWRU]RXPRHWHQEHVWDDQXLWGHRQGHUGHOHQGLH
GDDULQJHWRRQGZRUGHQ1HHPGLUHFWFRQWDFWRSPHWXZOHYHUDQFLHUDOVLHWVRQWEUHHNW
230(5.,1*
%HZDDUGHRULJLQHOHYHUSDNNLQJYRRUHYHQWXHOH
WRHNRPVWLJHYHU]HQGLQJHQ9RRUYHUSODDWVLQJYDQGHSURMHFWRUGLHQWXKHWRUJLQHOH
YHUSDNNLQJVPDWHULDDOWHJHEUXLNHQ:HHVPHWQDPHYRRU]LFKWLJPHWKHWOHQVJHGHHOWH
9RRUEHUHLGLQJHQ
2YHUKHWÀOWHUDIGHNNDSMHYRRURQGHUVWHERYHQJHEUXLN
:$$56&+8:,1*Ź
9HUYDQJKHW¿OWHUDIGHNNDSMHHQRIOXFKW¿OWHUQLHW
WLMGHQVJHEUXLNRIGLUHFWQDJHEUXLN+DQWHUHQYDQGHSURMHFWRUELMHHQKRJH
WHPSHUDWXXU]RXHHQEUDQGZRQGHQRIVOHFKWIXQWLRQHUHQYDQGHSURMHFWRU
NXQQHQYHURRU]DNHQ9yyUEHGLHQLQJYHU]HNHUXHUYDQGDWGHDDQXLWVFKDNHODDU
XLWLVGHVWHNNHUQLHWLQKHWVWRSFRQWDFW]LWHQGDWGHSURMHFWRUYROGRHQGHNRHOLV
$OVGHSURMHFWRURQGHUVWHERYHQLVJHwQVWDOOHHUGJHOLHYHKHWKXOSVWXN¿OWHUDIGHNNDSMH
YRRURQGHUVWHERYHQJHEUXLNWHJHEUXLNHQ'H]HLVKRJHUGDQKHWQRUPDOH¿OWHUDIGHNNDSH
RPGHLQODDWYHQWLODWRUUXLPWHWHJHYHQ*HOLHYHGLWWHYHUDQGHUHQRSGHYROJHQGHPDQLHU

0DDNDOOHVWHNNHUVHQDGDSWHUVGLHYHUERQGHQ]LMQPHWGHSRRUWHQYDQGH
SURMHFWRUORV'UDDLYHUYROJHQVGHSURMHFWRUODQJ]DDPRP]RGDWGHOHQVNDQW
QDDUERYHQZLMVW*HOLHYHYRRU]LFKWLJWH]LMQRSGDWGHSURMHFWRUQLHWYDOW+RXGW
GHSURMHFWRUYDVWWHUZLMOGH]HPHWGHOHQVNDQWQDDUERYHQLVJHSODDWVW

9HUZLMGHUKHW¿OWHUDIGHNNDSMHHQGHOXFKW¿OWHU+RXGWGHNQRSSHQLQJHGUXNW
WHUZLMOXGH]HHUXLWWUHNW

'UDDLGHSURMHFWRUODQJ]DDPRP]RGDWGHRQGHUNDQWQDDUERYHQZLMVW

%HYHVWLJHHQQLHXZRIVFKRRQJHPDDNWOXFKW¿OWHUDDQKHW¿OWHUDIGHNNDSMHYRRU
RQGHUVWHERYHQJHEUXLN/DDWGHNODXZWMHVODQJVGHUDLOVJOLMGHQHQSODDWVKHW
OXFKW¿OWHU

9HUJUHQGHOGHWDEVHQNOLNKHW¿OWHUDIGHNNDSMHYRRURQGHUVWHERYHQJHEUXLN
RS]LMQSOHN
.QRSYDQKHWOXFKW¿OWHU
.ODXZWMHV
.QRSYDQ¿OWHUDIGHNNDSMH
5DLOVYDQOXFKW¿OWHU
)LOWHUDIGHNNDSMHYRRURQGHUVWHERYHQJHEUXLN
/XFKW¿OWHU1LHXZRI
VFKRRQJHPDDNW
)LOWHUDIGHNNDSMHYRRU
RQGHUVWHERYHQJHEUXLN
PHWHHQOXFKW¿OWHU
7DEV
1

Brauchen Sie Hilfe? Stellen Sie Ihre Frage.

Forenregeln

Missbrauch melden von Frage und/oder Antwort

Libble nimmt den Missbrauch seiner Dienste sehr ernst. Wir setzen uns dafür ein, derartige Missbrauchsfälle gemäß den Gesetzen Ihres Heimatlandes zu behandeln. Wenn Sie eine Meldung übermitteln, überprüfen wir Ihre Informationen und ergreifen entsprechende Maßnahmen. Wir melden uns nur dann wieder bei Ihnen, wenn wir weitere Einzelheiten wissen müssen oder weitere Informationen für Sie haben.

Art des Missbrauchs:

Zum Beispiel antisemitische Inhalte, rassistische Inhalte oder Material, das zu einer Gewalttat führen könnte.

Beispielsweise eine Kreditkartennummer, persönliche Identifikationsnummer oder unveröffentlichte Privatadresse. Beachten Sie, dass E-Mail-Adressen und der vollständige Name nicht als private Informationen angesehen werden.

Forenregeln

Um zu sinnvolle Fragen zu kommen halten Sie sich bitte an folgende Spielregeln:

Neu registrieren

Registrieren auf E - Mails für Hitachi PJ-LC7 wenn:


Sie erhalten eine E-Mail, um sich für eine oder beide Optionen anzumelden.


Das Handbuch wird per E-Mail gesendet. Überprüfen Sie ihre E-Mail.

Wenn Sie innerhalb von 15 Minuten keine E-Mail mit dem Handbuch erhalten haben, kann es sein, dass Sie eine falsche E-Mail-Adresse eingegeben haben oder dass Ihr ISP eine maximale Größe eingestellt hat, um E-Mails zu erhalten, die kleiner als die Größe des Handbuchs sind.

Ihre Frage wurde zu diesem Forum hinzugefügt

Möchten Sie eine E-Mail erhalten, wenn neue Antworten und Fragen veröffentlicht werden? Geben Sie bitte Ihre Email-Adresse ein.



Info