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June 20, 2016 Agenda Packet
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EŽŶͲWƌŽĨŝƚ,ŽƵƐŝŶŐƐƐŽĐŝĂƚŝŽŶŽĨEŽƌƚŚĞƌŶĂůŝĨŽƌŶŝĂ;EW,Ϳ͕ǁŚĞƌĞŚĞŵĂŶĂŐĞĚĂ ĐŽƵŶƚLJǁŝĚĞŝŶŝƚŝĂƚŝǀĞƚŽƵƉĚĂƚĞůŽĐĂůŚŽƵƐŝŶŐƉůĂŶƐ͕ĨĂĐŝůŝƚĂƚĞŐƌĞĂƚĞƌŚŽƵƐŝŶŐ ĂĨĨŽƌĚĂďŝůŝƚLJƚŚƌŽƵŐŚƚŚĞnjŽŶŝŶŐĐŽĚĞ͕ĂŶĚĐůĂƌŝĨLJƚŚĞŝŵƉĂĐƚƐŽĨǁŽƌŬĨŽƌĐĞ ŚŽƵƐŝŶŐƐŚŽƌƚĂŐĞƐ͘ZŽďĞƌƚŚĂƐĂůƐŽĂĚǀŝƐĞĚůŽĐĂůŝƚŝĞƐŽŶƚŚĞĨŝƐĐĂůĂŶĚŵĂƌŬĞƚŝŵƉĂĐƚƐŽĨůĂŶĚƵƐĞ ĚĞĐŝƐŝŽŶƐĂƐĂĐŽŶƐƵůƚĂŶƚǁŝƚŚ^ƚƌĂƚĞŐŝĐ ĐŽŶŽŵŝĐƐ͕ĂŶĚůĞĚƌĞƐĞĂƌĐŚŽŶƚŚĞŝŶƚĞƌƐĞĐƚŝŽŶŽĨĂĨĨŽƌĚĂďůĞ ŚŽƵƐŝŶŐĂŶĚƚƌĂŶƐŝƚĨŽƌƉŚŝůĂŶƚŚƌŽƉŝĐĐůŝĞŶƚƐƐƵĐŚĂƐ ŶƚĞƌƉƌŝƐĞŽŵŵƵŶŝƚLJWĂƌƚŶĞƌƐĂŶĚƚŚĞ^ĂŶ ŽŶŝŶŐ &ƌĂŶĐŝƐĐŽ&ŽƵŶĚĂƚŝŽŶ͘ZĞĐĞŶƚƉƵďůŝĐĂƚŝŽŶƐŝŶĐůƵĚĞ͗͞>ĞǀĞƌĂŐŝŶŐĨĨŽƌĚĂďŝůŝƚLJƚŚƌŽƵŐŚhƉnjŽŶŝŶŐ͟; WƌĂĐƚŝĐĞDĂŬŝŶŐ/ŶĐůƵƐŝŽŶĂƌLJ,ŽƵƐŝŶŐDŽƌĞ&ůĞdžŝďůĞ͗&ŽƵƌ ͕ŵĞƌŝĐĂŶWůĂŶŶŝŶŐƐƐŽĐŝĂƚŝŽŶ͕ϮϬϭϱͿ͖ĂŶĚ /ĚĞĂƐĨŽƌhƌďĂŶ^ĞƚƚŝŶŐƐ ;E,͕ϮϬϭϱͿ͘ZŽďĞƌƚ͛ƐƌĞƐĞĂƌĐŚŚĂƐďĞĞŶĨĞĂƚƵƌĞĚŝŶǀĂƌŝŽƵƐŵĞĚŝĂ͕ŝŶĐůƵĚŝŶŐ dŚĞEĞǁzŽƌŬdŝŵĞƐ͕^ůĂƚĞDĂŐĂnjŝŶĞ͕EE͘ĐŽŵ͕dŚĞ,ƵĨĨŝŶŐƚŽŶWŽƐƚ͕dŚĞƚůĂŶƚŝĐ͘ĐŽŵ ĂŶĚ͘,ĞŚŽůĚƐĂ ŵĂƐƚĞƌ͛ƐĚĞŐƌĞĞŝŶĐŝƚLJĂŶĚƌĞŐŝŽŶĂůƉůĂŶŶŝŶŐĨƌŽŵƚŚĞhŶŝǀĞƌƐŝƚLJŽĨĂůŝĨŽƌŶŝĂʹĞƌŬĞůĞLJ͘ ^ĐŽƉĞŽĨtŽƌŬ 'ƌŽƵŶĚĞĚ^ŽůƵƚŝŽŶƐEĞƚǁŽƌŬǁŝůůƐƵƉƉŽƌƚƉŽůŝĐLJŵĂŬĞƌƐĂŶĚƐƚĂĨĨŝŶƚŚĞŝƚLJŽĨZŽĐŚĞƐƚĞƌŝŶŚĂǀŝŶŐĂŶ 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ĚĞǀĞůŽƉŵĞŶƚĐŽƐƚƐ͘tĞǁŝůůƐƵŵŵĂƌŝnjĞƚŚĞƌĞƐƵůƚƐŽĨƚŚĞĂŶĂůLJƐŝƐƚŽŝŶĨŽƌŵŽƵƌƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐĨŽƌ ĚĞƐŝŐŶŝŶŐĂŶ/ŶĐůƵƐŝŽŶĂƌLJ,ŽƵƐŝŶŐƉŽůŝĐLJ͘ ϯ͘ŝƐĐƵƐƐŝŽŶŽĨWŽůŝĐLJĞƐŝŐŶŽŶƐŝĚĞƌĂƚŝŽŶƐǁŝƚŚĚǀŝƐŽƌLJ'ƌŽƵƉ 'ƌŽƵŶĚĞĚ^ŽůƵƚŝŽŶƐEĞƚǁŽƌŬǁŝůůůĞĂĚĂŶŝŶͲƉĞƌƐŽŶĐŽŶǀĞƌƐĂƚŝŽŶǁŝƚŚƚŚĞĚǀŝƐŽƌLJ'ƌŽƵƉĂďŽƵƚŬĞLJ ĚĞƐŝŐŶĐŽŶƐŝĚĞƌĂƚŝŽŶƐĨŽƌĂŶ/ŶĐůƵƐŝŽŶĂƌLJ,ŽƵƐŝŶŐƉŽůŝĐLJ͘tĞǁŝůůŽƌŐĂŶŝnjĞĂƚƌĂŝŶŝŶŐƚŽĞĚƵĐĂƚĞĚǀŝƐŽƌLJ 'ƌŽƵƉŵĞŵďĞƌƐĂďŽƵƚŝŵƉŽƌƚĂŶƚƉŽůŝĐLJƉĂƌĂŵĞƚĞƌƐĂŶĚŽƉƚŝŽŶƐƐƵŐŐĞƐƚĞĚďLJŶĂƚŝŽŶĂůďĞƐƚƉƌĂĐƚŝĐĞƐ͘ dŚŝƐǁŝůůďĞĐŽƵƉůĞĚǁŝƚŚŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽƌĞdžƚĞŶƐŝǀĞĨĞĞĚďĂĐŬĂŶĚŝŶƉƵƚ͘tĞǁŝůůĂůƐŽĐŽŶĚƵĐƚĨŽůůŽǁͲƵƉ͕ ŽŶĞͲƚŽͲŽŶĞĐŽŶǀĞƌƐĂƚŝŽŶƐǁŝƚŚĚǀŝƐŽƌLJ'ƌŽƵƉŵĞŵďĞƌƐĂƐŶĞĞĚĞĚƚŽĐůĂƌŝĨLJŝŶƉƵƚŽƌƚŽĞŶŐĂŐĞ ĚǀŝƐŽƌLJ'ƌŽƵƉŵĞŵďĞƌƐƵŶĂďůĞƚŽĂƚƚĞŶĚƚŚĞƚƌĂŝŶŝŶŐ͘&ĞĞĚďĂĐŬĨƌŽŵƚŚŝƐĨŝƌƐƚĚǀŝƐŽƌLJ'ƌŽƵƉŵĞĞƚŝŶŐ ǁŝůůďĞƐƵŵŵĂƌŝnjĞĚŝŶŵĞŵŽĨŽƌŵĂƚ͘ ϰ͘ĞǀĞůŽƉŵĞŶƚŽĨ/ŶŝƚŝĂůZĞĐŽŵŵĞŶĚĂƚŝŽŶƐ ĨƚĞƌĐŽŶĚƵĐƚŝŶŐĂĚĚŝƚŝŽŶĂůƌĞƐĞĂƌĐŚĂŶĚŝŶĨŽƌŵĂƚŝŽŶĂůŝŶƚĞƌǀŝĞǁƐĂƐŶĞĞĚĞĚƚŽĐůĂƌŝĨLJǁŽƌŬĂďůĞƉŽůŝĐLJ ƉĂƌĂŵĞƚĞƌƐ͕'ƌŽƵŶĚĞĚ^ŽůƵƚŝŽŶƐǁŝůůĚƌĂĨƚŝŶŝƚŝĂůƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐĨŽƌĂŶ/ŶĐůƵƐŝŽŶĂƌLJ,ŽƵƐŝŶŐƉŽůŝĐLJ͘ 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ƚŚĞŽŵŵŝƐƐŝŽŶ͘,ĞƌĞǀŝĞǁĞĚĞĂĐŚĐŽŶĚŝƚŝŽŶƐŝŶƚŚĞƐƚĂĨĨƌĞƉŽƌƚ͖ŚĞǁĂƐŝŶŐĞŶĞƌĂůĐŽŶƐĞŶƐƵƐǁŝƚŚ ŵŽƐƚŽĨƚŚĞĐŽŶĚŝƚŝŽŶƐ͖ĐůĂƌŝĨŝĞĚƚŚĞĐůĂƐƐŝĨŝĐĂƚŝŽŶƐĨŽƌƚŚĞƌŽĂĚƐ͖ĐůĂƌŝĨŝĞĚŝŶĐŽŶĚŝƚŝŽŶŶŽ͘ϴƚŚĞĂƉƉůŝĐĂŶƚ ǁŝůůƉĂLJĨŽƌƉĞĚĞƐƚƌŝĂŶĨĂĐŝůŝƚŝĞƐƐŽŵĞŽĨƚŚĞĨĂĐŝůŝƚŝĞƐĂƌĞĂůƌĞĂĚLJďƵŝůƚƐŽƚŚŝƐǁŽƵůĚďĞĂŶĞdžŝƐƚŝŶŐ ĐŽŶĚŝƚŝŽŶ͖ĂŶĚĐŽŶĚŝƚŝŽŶŶŽ͘ϭϰŝŶƌĞŐĂƌĚƐĐŽŵŵĞŶƚĨƌŽŵWƵďůŝĐtŽƌŬƐŶŽƚŝŶŐǁŚŽǁŽƵůĚƉĂLJĨŽƌƚŚĞ ƐƚŽƉůŝŐŚƚĂƚƚŚĞŝŶƚĞƌƐĞĐƚŝŽŶĂŵĞĞƚŝŶŐŚĂƐƚĂŬĞŶƉůĂĐĞ͖ƐŽŵĞĞĂƐĞŵĞŶƚƐďĞŝŶŐĂƐŬĞĚĨŽƌĂƌĞůĂƌŐĞƌƚŚĂŶ ƐƚĂŶĚĂƌĚƚŽϭϱ͛ƌĂƚŚĞƌƚŚĂŶƚŚĞϭϬ͖͛ĂŶĚĂƐŬĞĚĨŽƌĂŶLJƋƵĞƐƚŝŽŶƐĨƌŽŵƚŚĞŽŵŵŝƐƐŝŽŶ͘ DƐ͘DĞĞŬĂƐŬĞĚŝĨƚŚĞƉĂƌŬŝŶŐǁŝůůďĞĂůůŽǁĞĚŽŶƚŚĞƐƚƌĞĞƚƐ͖ĂŶĚďŽƵůĞǀĂƌĚƚƌĞĞƐ͘ Dƌ͘ŝĞƚůŽǁƐƚĂƚĞĚŚĞůŝŬĞƐƚƌĞĞƐĂŶĚǁŽƵůĚůŝŬĞƚŽƐĞĞƚŚĞŵ͖ĂŶĚŶŽƚĞĚƚŚĞƐƚƌĞĞƚƐĂƌĞǁŝĚĞĞŶŽƵŐŚĨŽƌ ĂůůŽǁŝŶŐďƵƚǁŝůůĚĞĨĞƌƚŚĞƋƵĞƐƚŝŽŶƚŽDƌ͘dŽŝŶƚŽŶ͘ _3DJH 3DFNHW3J )I ŝƚLJWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶDŝŶƵƚĞƐ,ĞĂƌŝŶŐĂƚĞ͗DĂLJϮϱ͕ϮϬϭϲ Dƌ͘ŝůůdŽŝŶƚŽŶ͕t^ΘƐƐŽĐŝĂƚĞƐ͕ϭϲϰϴdŚŝƌĚǀĞŶƵĞ^ ͕ZŽĐŚĞƐƚĞƌ͕DŝŶŶĞƐŽƚĂϱϱϵϬϰ͕ĂĚĚƌĞƐƐĞĚƚŚĞ ŽŵŵŝƐƐŝŽŶ͘,ĞĂĚĚƌĞƐƐĞĚƚŚĞƉĂƌŬŝŶŐĂůůŽǁĂŶĐĞŽŶƚŚĞƐƚƌĞĞƚƐǁŚŝĐŚŝƐƉĞƌŵŝƚƚĞĚƵŶĚĞƌƚŚĞ KƌĚŝŶĂŶĐĞ͖ŚĞƚŚĞŶƐƚĂƚĞĚƚŚĞŚŝƐƚŽƌLJŽĨϯϲ͛ǁŝĚƚŚŽĨ^ƵƉĞƌŝŽƌƌŝǀĞĂŶĚĂŐƌĞĞĚƚŽĂĚĚƌĞƐƐŝŶŐƚŚĞƐƚƌĞĞƚ ǁŝĚƚŚƐǁŝƚŚWƵďůŝĐtŽƌŬƐ͘ Dƌ͘ůůĂŶtĂƚƚƐ͕ƌĞƐŝĚŝŶŐϯϲϰϭϰϰ ƚŚǀĞŶƵĞEt͕ZŽĐŚĞƐƚĞƌ͕DŝŶŶĞƐŽƚĂϱϱϵϬϮ͕ĂĚĚƌĞƐƐĞĚƚŚĞ ŽŵŵŝƐƐŝŽŶ͘,ĞƐƚĂƚŝŶŐŝƐƌĞƉƌĞƐĞŶƚŝŶŐŶĞŝŐŚďŽƌŚŽŽĚƐŝŶƚŚĞĂƌĞĂ͖<ǁŝŬdƌŝƉŚĂƐďĞĞŶŐŽŽĚƚŽǁŽƌŬ ǁŝƚŚĂŶĚŝƐŐĞŶĞƌĂůůLJŝŶƐƵƉƉŽƌƚŽĨƚŚĞƉƌŽũĞĐƚ͖ŚĞĞdžƉƌĞƐƐĞĚĐŽŶĐĞƌŶǁŝƚŚƚŚĞͲ ϭnjŽŶŝŶŐǁŚĂƚƚLJƉĞŽĨ ůĂŶĚƐĐĂƉĞďƵĨĨĞƌLJĂƌĚǁŝůůďĞƌĞƋƵŝƌĞĚ͘ ƚŚ Dƌ͘ŚƌŝƐƚŽƉŚĞƌ&ŝƐŬĚĂů͕ƌĞƐŝĚŝŶŐĂƚϯϲϵϬϰϰǀĞŶƵĞEt͕ZŽĐŚĞƐƚĞƌ͕DŝŶŶĞƐŽƚĂϱϱϵϬϭ͕ĂĚĚƌĞƐƐĞĚƚŚĞ ŽŵŵŝƐƐŝŽŶ͘,ĞĂƐŬĞĚĂďŽƵƚƚŚĞŚŝŐŚĞŶĚĐƵƐƚŽŵĞƌƐĐŽŵŝŶŐŝŶƚŽƚŚĞĚĞǀĞůŽƉĞƌ͕ǁŚŽǁŽƵůĚƚŚŝƐďĞ͍ ŶĚƚŚĞƚŝŵĞůŝŶĞŽĨƚŚĞƉƌŽũĞĐƚ͍ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌƐƵŐŐĞƐƚĞĚDƌ͘&ŝƐŬĚĂůƐƉĞĂŬǁŝƚŚƚŚĞĚĞǀĞůŽƉĞƌŽŶĂŽŶĞ Ͳ ŽŶ Ͳ ŽŶĞ͘ Dƌ͘tĂůƚĞƌƐŝŶƋƵŝƌĞĚŝŶƚŽǁŚŽǁŽƵůĚďĞƉĂLJŝŶŐĨŽƌƚŚĞƐƚŽƉůŝŐŚƚ͕ŚĞƌĞĐĂůůĞĚŶŽƚƐĞĞŝŶŐƚŚĞĐŽŵŵĞŶƚ ďĞĨŽƌĞ͖ĂŶĚĂƐŬĞĚŝĨƚŚŝƐŝƐƐŽŵĞƚŚŝŶŐŶĞǁ͘ Dƌ͘ ŶŐĞůŶŽƚĞĚŚĞĚŝĚŶŽƚĨĞĞůƚŚŝƐǁĂƐĂĐŽŵŵŽŶĐŽŵŵĞŶƚ͖ũƵƐƚƚŚĂƚŽƵŶƚLJWƵďůŝĐtŽƌŬƐŶŽƚĞĚ ƐƉĞĐŝĨŝĐĂůůLJŝŶƚŚĞŝƌƌĞĨĞƌƌĂůĐŽŵŵĞŶƚ͘ tŝƚŚŶŽŽŶĞĞůƐĞǁŝƐŚŝŶŐƚŽďĞŚĞĂƌĚ͕Dƌ͘tĂůƚĞƌƐĐůŽƐĞĚƚŚĞƉƵďůŝĐŚĞĂƌŝŶŐ͘ ŝƐĐƵƐƐŝŽŶĞŶƐƵĞĚĂŵŽŶŐƚŚĞĐŽŵŵŝƐƐŝŽŶŝŶƌĞŐĂƌĚƐƚŽǁŚŽǁŝůůďĞƉĂLJŝŶŐĨŽƌƚŚĞƐƚŽƉůŝŐŚƚĂŶĚŝƐŝƚƚŚĞ ƌĞƐƉŽŶƐŝďŝůŝƚLJŽĨƚŚĞĐŽŵŵŝƐƐŝŽŶŵĂŬĞƚŚŝƐĚĞĐŝƐŝŽŶ͘ Dƌ͘^ŚĞƌǁŽŽĚŵŽǀĞĚƚŽƌĞĐŽŵŵĞŶĚĂƉƉƌŽǀĂůŽĨWƌĞůŝŵŝŶĂƌLJWůĂƚηZϮϬϭϲ Ͳ ϬϭϯW>dďLJEŽƌƚŚǁĞƐƚ /ŶǀĞƐƚŵĞŶƚƐŽĨ>ĂƌŽƐƐĞ͕>>ǁŝƚŚƚŚĞƐƚĂĨĨ Ͳ ƌĞĐŽŵŵĞŶĚĞĚĐŽŶĚŝƚŝŽŶƐŶŽ͘ϭƚŚƌŽƵŐŚŶŽ͘ϭϯ͕ƐƚƌŝŬŝŶŐ ĐŽŶĚŝƚŝŽŶŶŽ͘ϭϰ͖ĂŶĚĐŽŶĚŝƚŝŽŶƐŶŽ͘ϭϱƚŚƌŽƵŐŚŶŽ͘ϭϳ͘Dƌ͘,ŝůůƐĞĐŽŶĚĞĚƚŚĞŵŽƚŝŽŶ͘dŚĞŵŽƚŝŽŶ ĐĂƌƌŝĞĚƵŶĂŶŝŵŽƵƐůLJ͘ KE/d/KE^͗ ϭ͘dŚĞƌĞĂƌĞŝŶĂĚĞƋƵĂƚĞŽŶĂŶĚŽĨĨƐŝƚĞƉƵďůŝĐĨĂĐŝůŝƚŝĞƐ͕ƐƉĞĐŝĨŝĐĂůůLJWƵďůŝĐZŽĂĚǁĂLJƐ͕^ĂŶŝƚĂƌLJ ^ĞǁĞƌ͕tĂƚĞƌ͕ĂŶĚ^ƚŽƌŵtĂƚĞƌDĂŶĂŐĞŵĞŶƚ&ĂĐŝůŝƚŝĞƐ͕ĞdžŝƐƚŝŶŐƚŽĂĐĐŽŵŵŽĚĂƚĞƚŚĞ ĚĞǀĞůŽƉŵĞŶƚŽĨƚŚŝƐWƌŽƉĞƌƚLJ͘EŽĚĞǀĞůŽƉŵĞŶƚǁŝůůďĞĂůůŽǁĞĚƚŽŽĐĐƵƌƵŶƚŝůƚŚĞŝƚLJŽƵŶĐŝů ŚĂƐĚĞƚĞƌŵŝŶĞĚƚŚĂƚĂůůƌĞƋƵŝƌĞĚƉƵďůŝĐĨĂĐŝůŝƚŝĞƐĂƌĞĂĚĞƋƵĂƚĞĨŽƌƐĂŝĚĚĞǀĞůŽƉŵĞŶƚ͘ ůƚĞƌŶĂƚŝǀĞůLJ͕ƚŚĞĚĞǀĞůŽƉĞƌŵĂLJƌĞƋƵĞƐƚƚŽũŽŝŶǁŝƚŚƚŚĞŝƚLJŝŶŵĂŬŝŶŐƚŚĞƐĞŝŶĂĚĞƋƵĂƚĞ ƉƵďůŝĐĨĂĐŝůŝƚŝĞƐĂĚĞƋƵĂƚĞĨŽƌƚŚŝƐĚĞǀĞůŽƉŵĞŶƚ͕ĂŶĚŵĂLJĞŶƚĞƌŝŶƚŽĂĚĞǀĞůŽƉŵĞŶƚĂŐƌĞĞŵĞŶƚ͕ ƉƌŝŽƌƚŽ&ŝŶĂůWůĂƚƐƵďŵŝƚƚĂů͕ƚŚĂƚŽƵƚůŝŶĞƐƚŚĞĚĞǀĞůŽƉĞƌΖƐĂŶĚŝƚLJΖƐŽďůŝŐĂƚŝŽŶƐƌĞůĂƚĞĚ͕ďƵƚ ŶŽƚůŝŵŝƚĞĚƚŽ͗ĂĐĐĞƐƐ͕ƐƚŽƌŵǁĂƚĞƌŵĂŶĂŐĞŵĞŶƚ;ŝŶĐůƵĚŝŶŐĂŶLJŽďůŝŐĂƚŝŽŶƐĨŽƌŽŶŽƌŽĨĨ Ͳ ƐŝƚĞ ĨĂĐŝůŝƚŝĞƐͿ͕ƚƌĂŶƐƉŽƌƚĂƚŝŽŶŝŵƉƌŽǀĞŵĞŶƚƐ;ŝŶĐůƵĚŝŶŐĂŶLJŽĨĨ Ͳ ƐŝƚĞŝŵƉƌŽǀĞŵĞŶƚƐŶĞĐĞƐƐĂƌLJƚŽ ĂĐĐŽŵŵŽĚĂƚĞƚŚŝƐĚĞǀĞůŽƉŵĞŶƚͿ͕ƉĞĚĞƐƚƌŝĂŶĨĂĐŝůŝƚŝĞƐ͕ĐŽŶƚƌŝďƵƚŝŽŶƐĨŽƌĞdžŝƐƚŝŶŐΘĨƵƚƵƌĞ ƉƵďůŝĐŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͕ĂŶĚƚŚĞĞdžƚĞŶƐŝŽŶŽĨƉƵďůŝĐƵƚŝůŝƚŝĞƐƚŽĂďƵƚƚŝŶŐƉƌŽƉĞƌƚŝĞƐǁŚĞƌĞ ĂƉƉůŝĐĂďůĞ͘ Ϯ͘KƵƚůŽƚŝƐŝŶƚĞŶĚĞĚƚŽďĞĚĞĚŝĐĂƚĞĚƚŽƚŚĞŝƚLJŝŶƚŚĞĨƵƚƵƌĞ͕ĂƐĂƐƚŽƌŵǁĂƚĞƌĨĂĐŝůŝƚLJ͕ĂŶĚƚŚĞ ƚĞƌŵƐŽĨƚŚĞĐŽŶǀĞLJĂŶĐĞǁŝůůďĞĂĚĚƌĞƐƐĞĚŝŶƚŚĞĞǀĞůŽƉŵĞŶƚŐƌĞĞŵĞŶƚ͘ _3DJH 3DFNHW3J )I ŝƚLJWůĂŶŶŝŶŐĂŶĚŽŶŝŶŐŽŵŵŝƐƐŝŽŶDŝŶƵƚĞƐ,ĞĂƌŝŶŐĂƚĞ͗DĂLJϮϱ͕ϮϬϭϲ ϯ͘dŚĞƐƚĂƚƵƐŽĨƚŚĞ'ƌĂĚŝŶŐĂŶĚ^ƚŽƌŵǁĂƚĞƌDĂŶĂŐĞŵĞŶƚWůĂŶƐŚĂůůďĞĂƉƉƌŽǀĞĚ͕ŽƌĂƉƉƌŽǀĞĚ [[373,274,386,326][11][B,I,][Arial]] ǁŝƚŚĐŽŶĚŝƚŝŽŶƐ͕ƉƌŝŽƌƚŽƐƵďŵŝƚƚŝŶŐƚŚĞ&ŝŶĂůWůĂƚ͘^ƵďŵŝƚƚĂůŽĨƚŚĞ&ŝŶĂůWůĂƚƉƌŝŽƌƚŽĨŝŶĂů 'ƌĂĚŝŶŐĂŶĚ^ƚŽƌŵǁĂƚĞƌDĂŶĂŐĞŵĞŶƚWůĂŶĂƉƉƌŽǀĂůŽƌĂƉƉƌŽǀĂůǁŝƚŚĐŽŶĚŝƚŝŽŶƐƌĞƋƵŝƌĞƐ ĂƵƚŚŽƌŝnjĂƚŝŽŶĨƌŽŵƚŚĞŝƚLJ ŶŐŝŶĞĞƌ͘ ϰ͘WƌĞůŝŵŝŶĂƌLJŽŶƐƚƌƵĐƚŝŽŶƉůĂŶƐǁŝůůďĞƌĞǀŝĞǁĞĚĂŶĚĐŽŵŵĞŶƚƐǁŝůůďĞƉƌŽǀŝĚĞĚƐĞƉĂƌĂƚĞůLJƚŽ ƚŚĞĐŽŶƐƵůƚŝŶŐĞŶŐŝŶĞĞƌ͘ƉƉůŝĐĂŶƚǁŝůůĐŽŵƉůLJǁŝƚŚƚŚĞĐŽŵŵĞŶƚƐ͘ ϱ͘ džĞĐƵƚŝŽŶŽĨĂŝƚLJ Ͳ KǁŶĞƌŽŶƚƌĂĐƚ͕ĂŶĚĚĞĚŝĐĂƚŝŽŶŽĨĂŶLJĂƉƉůŝĐĂďůĞŽŶĂŶĚŽĨĨ Ͳ ƐŝƚĞƉƵďůŝĐ ĞĂƐĞŵĞŶƚƐŝƐƌĞƋƵŝƌĞĚƉƌŝŽƌƚŽĐŽŶƐƚƌƵĐƚŝŽŶŽĨĂŶLJƉƵďůŝĐŝŶĨƌĂƐƚƌƵĐƚƵƌĞĨŽƌƚŚŝƐĚĞǀĞůŽƉŵĞŶƚ͘ ϲ͘ŶLJƌĞƋƵŝƌĞĚĂĐĐĞƐƐĐŽŶƚƌŽůĂůŽŶŐƚŚĞĨƌŽŶƚĂŐĞƐŽĨŶĞǁƐƚƌĞĞƚƐǁŝƚŚŝŶƚŚĞĚĞǀĞůŽƉŵĞŶƚ͕ĂŶĚ ĂůŽŶŐƉĞƌŝŵĞƚĞƌƌŽĂĚǁĂLJƐǁŝůůďĞĂĚĚƌĞƐƐĞĚŝŶƚŚĞĞǀĞůŽƉŵĞŶƚŐƌĞĞŵĞŶƚĂŶĚƐŚĂůůďĞ ƐŚŽǁŶŽŶƚŚĞ&ŝŶĂůWůĂƚ͘ ϳ͘ƉƌŝǀĂƚĞĚƌŝǀĞǁĂLJĂĐĐĞƐƐĨƌŽŵĂĚŐĞƌ,ŝůůƐƌŝǀĞEtďĞƚǁĞĞŶ>ŽƚƐϭΘϰ͕ůŽĐŬϮ͕ŝƐ ĂĐĐĞƉƚĂďůĞĂŶĚŵĂLJďĞĂůůŽǁĞĚƚŽƐĞƌǀĞůŽƚƐŝŶĂĚĚŝƚŝŽŶƚŽ>ŽƚƐϭΘϰ͕ƉƌŽǀŝĚĞĚƚŚĞƌĞŝƐŶŽƚĂ ĐŽŶŶĞĐƚŝŽŶŽĨƚŚŝƐƉƌŝǀĂƚĞĂĐĐĞƐƐƚŽdŚŽŵĂƐƌŝǀĞEt͘ƉƵďůŝĐƌŽĂĚǁĂLJĐŽŶŶĞĐƚŝŽŶĂƚƚŚŝƐ ůŽĐĂƚŝŽŶǁŝůůŶŽƚďĞĂůůŽǁĞĚ͘ ϴ͘ĞǀĞůŽƉĞƌƐŚĂůůĚĞĚŝĐĂƚĞĂWĞĚĞƐƚƌŝĂŶ&ĂĐŝůŝƚŝĞƐĂŶĚZKtDĂŝŶƚĞŶĂŶĐĞ ĂƐĞŵĞŶƚĂůŽŶŐtĞƐƚ ŝƌĐůĞƌŝǀĞEtĂŶĚsĂůůĞLJŚŝŐŚZŽĂĚEtƚŽĨĂĐŝůŝƚĂƚĞƚŚĞĨƵƚƵƌĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨƉĞĚĞƐƚƌŝĂŶ ĨĂĐŝůŝƚŝĞƐĂůŽŶŐƚŚĞĨƌŽŶƚĂŐĞƐŽĨƚŚĞƉƌŽƉĞƌƚLJ͘dŚĞĞǀĞůŽƉĞƌŝƐŽďůŝŐĂƚĞĚƚŽĐŽŶƐƚƌƵĐƚŽƌƉĂLJĨŽƌ ƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨƉĞĚĞƐƚƌŝĂŶĨĂĐŝůŝƚŝĞƐĂůŽŶŐƚŚĞĞŶƚŝƌĞĨƌŽŶƚĂŐĞŽĨtĞƐƚŝƌĐůĞƌŝǀĞEtĂŶĚ 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Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌƋƵĞƐƚŝŽŶĞĚŚŽǁƚŚĞǀĞƌŝĨŝĐĂƚŝŽŶŽĨƚŚĞŶĞŝŐŚďŽƌŚŽŽĚŵĞĞƚŝŶŐĚŽĐƵŵĞŶƚĂƚŝŽŶŝƐ ƐƵƉƉůŝĞĚ͘ Dƌ͘ƵŶŶŶŽƚĞĚŝƚŝƐŽŶŐŽŽĚĨĂŝƚŚĨƌŽŵƚŚĞĚĞǀĞůŽƉĞƌƚŽƉƌŽǀŝĚĞƚŚĞƐĞƚŽƚŚĞWůĂŶŶŝŶŐĞƉĂƌƚŵĞŶƚ͘ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌĂƐŬĞĚĂďŽƵƚŶŽƚŝĨŝĐĂƚŝŽŶƐ͕ĂŶĚǁŚĞŶŝƐĂŵĞĞƚŝŶŐĚĂƚĞƐĞƚ͘ Dƌ͘ƵŶŶƌĞƐƉŽŶĚĞĚƚŚĞĂƉƉůŝĐĂŶƚŶŽƚĞƐƚŚĞĚĂƚĞ͖ĂŶĚƚŚĞLJĂƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌƐĞŶĚŝŶŐŽƵƚƚŚĞ ŶŽƚŝĨŝĐĂƚŝŽŶƐǁŝƚŚŝŶŝŶƚŚĞϭϬĚĂLJƐŶŽƚŝĐĞƚŝŵĞƉĞƌŝŽĚ͘ DƐ͘tŝůƐŽŶĂƐŬĞĚŝĨǁŝůůďĞĂĚĚŝŶŐƚŚĞƌĞƋƵŝƌĞŵĞŶƚŽĨƚŚĞĂƉƉůŝĐĂŶƚƚŽŚĂǀĞĂŶĞŝŐŚďŽƌŚŽŽĚŵĞĞƚŝŶŐ͘ Dƌ͘ƵŶŶƐƚĂƚĞĚLJĞƐƚŚŝƐǁŽƵůĚƌĞƋƵŝƌĞŶŽƚŝĨŝĐĂƚŝŽŶƚŽƚŚĞŶĞŝŐŚďŽƌŚŽŽĚĂƐƐŽĐŝĂƚŝŽŶ͖ĂŶĚǁŽƵůĚŝŶǀŽůǀĞ ƚŚĞĚĞǀĞůŽƉŵĞŶƚŽĨƚŚĞƉƌŽũĞĐƚĂůŽŶŐǁŝƚŚŚŽŵĞŽǁŶĞƌƐ͘ ŝƐĐƵƐƐŝŽŶĞŶƐƵĞĚƌĞŐĂƌĚŝŶŐƚŚĞƉƌŽĐĞƐƐŽĨŚŽǁƚŚĞŶŽƚŝĨŝĐĂƚŝŽŶĚŝƐƚĂŶĐĞŝƐĞƐƚĂďůŝƐŚĞĚĂŶĚŚŽǁƚŚĞ ĚĂƚĂďĂƐĞŝƐƉƌŽǀŝĚĞĚƚŽƚŚĞĂƉƉůŝĐĂŶƚ͘ Dƌ͘'ŽŽĚĞŶďĞƌŐĞƌŽƉĞŶĞĚƚŚĞƉƵďůŝĐŚĞĂƌŝŶŐ͘ Dƌ͘dĂLJůŽƌZŝĚĚĞƌďƵƐĐŚ͕WƵďůŝĐĨĨĂŝƌƐŝƌĞĐƚŽƌ͕ϭϬϴ ůƚŽŶ,ŝůůƐ>ĂŶĞEt͕ZŽĐŚĞƐƚĞƌƌĞĂƵŝůĚĞƌƐ͕ ZŽĐŚĞƐƚĞƌDEϱϱϵϬϮ͕ĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘,ĞƐƚĂƚĞĚĂĨƚĞƌƌĞǀŝĞǁŽĨƚŚĞƚĞdžƚĂŵĞŶĚŵĞŶƚƐďĞŝŶŐ ŚĞĂƌĚ͖ƚŚĞLJĚŽŶŽƚƐƵƉƉŽƌƚƚŚĞƚĞdžƚĂŵĞŶĚŵĞŶƚƐ͖ĂŶĚƚŚĞĂĚĚŝƚŝŽŶĂůĂĚŵŝŶŝƐƚƌĂƚŝǀĞĐŽƐƚƐǁŝůůďĞĂĚĚĞĚ ƚŽƚŚĞĚĞǀĞůŽƉŵĞŶƚĨĞĞƐǁŚŝĐŚǁŝůůŵĂŬĞƚŚŝƐŚĂƌĚĞƌƚŽƉƌŽǀŝĚĞĂĨĨŽƌĚĂďůĞŚŽƵƐŝŶŐ͘ Dƌ͘ŝůůdŽŝŶƚŽŶ͕ŽŶďĞŚĂůĨŽĨZŽĐŚĞƐƚĞƌƌĞĂƵŝůĚĞƌƐ͕ϱϮϰ ůŵǀŝĞǁWůĂĐĞ^t͕ZŽĐŚĞƐƚĞƌDEϱϱϵϬϮ͕ ĂĚĚƌĞƐƐĞĚƚŚĞŽŵŵŝƐƐŝŽŶ͘,ĞŶŽƚĞĚĚŝĨĨŝĐƵůƚŝĞƐǁŝƚŚƚŚĞĐƵƌƌĞŶƚƉƌŽĐĞƐƐŽĨƉƌĞͲĚĞǀĞůŽƉŵĞŶƚ ĂƉƉůŝĐĂƚŝŽŶƐ͖ƚŝŵŝŶŐŽĨŶŽƚŝĨŝĐĂƚŝŽŶƐ͖ĂŶĚŵĞĞƚŝŶŐƐ͘,ĞǁŽƵůĚƉƌŽƉŽƐĞƚŚĞŝŶĨŽƌŵĂƚŝŽŶĂůŵĞĞƚŝŶŐďĞ ŚĞůĚŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚƚŚĞƉƌĞͲĚĞǀĞůŽƉŵĞŶƚŵĞĞƚŝŶŐ͘,ĞƚŚĞŶƐƵŐŐĞƐƚĞĚŚĂǀŝŶŐƚŚĞŶĞŝŐŚďŽƌŚŽŽĚ ŵĞĞƚŝŶŐĂĨƚĞƌƚŚĞƉƌĞͲĚĞǀĞůŽƉŵĞŶƚŵĞĞƚŝŶŐďƵƚďĞĨŽƌĞƚŚĞĨŝƌƐƚƉƵďůŝĐŚĞĂƌŝŶŐ͖ĂĐŽŶĐĞƌŶǁĂƐ ĞdžƉƌĞƐƐĞĚŽŶƚŚĞƉƌŽũĞĐƚƐŶŽƚŚĂǀŝŶŐƐƵĨĨŝĐŝĞŶƚĚĞƚĂŝůĂƚƚŚĞƚŝŵĞƚŚĞŶĞŝŐŚďŽƌŚŽŽĚŵĞĞƚŝŶŐ͖ƚŚĞ ƉƵƌƉŽƐĞŽĨŶĞŝŐŚďŽƌŚŽŽĚŵĞĞƚŝŶŐƐĞĞŵƐƚŽďĞŵŝƐͲƵŶĚĞƌƐƚŽŽĚĂƐƚŚĞŶĞŝŐŚďŽƌƐƚŚŝŶŬƚŚĞŵĞĞƚŝŶŐĂƌĞ ĨŽƌĚĞƐŝŐŶ͖ƚŚĞƉƌŽĐĞƐƐƚŝŵĞůŝŶĞǁĂƐĚŝƐƉůĂLJĞĚŽŶĂƐůŝĚĞĂŶĚŚŽǁůŽŶŐƚŚĞƉƌŽĐĞƐƐƚĂŬĞƐĐŽƵůĚďĞƵƉƚŽ ϭϰŵŽŶƚŚƐ͖ĂƌĞƋƵĞƐƚĨŽƌĂŵŽĚĞƌĂƚŽƌĨŽƌŶĞŝŐŚďŽƌŚŽŽĚŵĞĞƚŝŶŐŝƐĂŶŝƐƐƵĞƚŚĂƚƐŚŽƵůĚďĞĂĚĚƌĞƐƐĞĚ͖ 3DFNHW3J )E ƉůĂŶŶŝŶŐƐƚĂĨĨŝƐƌĞƋƵŝƌŝŶŐƚŚĞŵĞĞƚŝŶŐ͕ƐŽƚŚĞLJĐŽƵůĚďĞƚŚĞŽŶĞƐƚŽƌĞĐŽƌĚƚŚĞŵĞĞƚŝŶŐĂŶĚƉƌŽǀŝĚĞĂŶ ŽƌĚĞƌůLJĨƵŶĐƚŝŽŶƚŽƚŚĞŵĞĞƚŝŶŐ͘ 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