Les spoilers, objets de communication ? Analyse d’une forme de médiation entre interactionnisme symbolique et visibilité sociale : le cas de la série <i>Game of Thrones</i> sur Twitter
99
0
0
Texte intégral
(2) Master professionnel Mention : Information et communication Spécialité : Communication Médias Option : Médias et numérique. Les spoilers, objets de communication ? Analyse d’une forme de médiation entre interactionnisme symbolique et visibilité sociale Le cas de la série Game of Thrones sur Twitter. Responsable de la mention information et communication Professeure Karine Berthelot-Guiet Tuteur universitaire : Antoine Bonino. Nom, prénom : COLOOS Fernand Promotion : 2016-2017 Soutenu le : 29/06/2017 Mention du mémoire : Très bien. École des hautes études en sciences de l'information et de la communication - Université Paris-Sorbonne 77, rue de Villiers 92200 Neuilly tél. : +33 (0)1 46 43 76 76 fax : +33 (0)1 47 45 66 04 www.celsa.fr.
(3) hRK8EK8II@MV<SC8GFIK<;L:89@E<K<CC<JP8IIXK8HL<CHL<K<DGJ JFE><8EKSC8;V=<EJ<HL<JFE&8I@CL@8M8@K=8@K<<K:FEJ@;VI8EK HL@CGFLII8@KCL@8II@M<ID8C?<LI;8MF@IVKV;VJF9V@JJ8EK<D8@JC8 K<EK8K@FEVK8@KJ@=FIK<HL<CC<E<GLKC8JLIDFEK<I<CC<GI@K;FE: C8G<K@K<:C<=<KFLMI@K<EKI<D9C8EKC8GFIK<;L:89@E<K i 4 )<II8LCK'8(+2+;+
(4) 5.
(5) ! .
(6) . " #" " !! .
(7)
(8) . !54/1+78:7"</99+74:1F':947/8'9/43. . *:5'79'-+8:7:32A*/')422:3':9'/7+. . G@JF;<
(9) '8KLI8C@J8K@FE;kLE;VJ@I;<G8IK8>< '8KLI8C@KV;<Ck8:K<;<;@MLC>8K@FE. . G@JF;< .E<8L>D<EK8K@FE;L;@J:FLIJFI8CGFJJ@9@C@KV;k@EJ:I@GK@FED8KVI@<CC<. . G@JF;<-N@KK<IDV;@8;<IVLE@FE;<J:FDDLE8LKVJ;<JL9A<:K@M@KVJ. . . . !! . . +)433'/88'3)+*F:35'79/):1'7/82+. . *+1F':9+:7*+854/1+78. . G@JF;<
(10) g%kV;@=@:8K@FE;kLEGIF=@CFLC8=@>LI8K@FE;kLEJF:@8C<K:LCKLI<C. . G@JF;< g%<JFI@>@E<J;<;@J:FLIJG8IK@:LC8I@JK<JC<GFLMF@I;<GFLMF@IV:I@I<. . G@JF;<g <C8EV:<JJ@KV;kLE<IV:<GK@FED8E@=<JKV<. . . . !! . . '2A*/'9/8'9/43*+885+)9'9+:78. . 249+:7*F:3+*4:(1+/3043)9/43@A)7/7++9@;4/7. . G@JF;<
(11) g,<MF@IM8CFI@JVLE<DV;@8K@FEJF:@8C<<KK<:?E@HL<. . G@JF;< g/<IJLE;VM<CFGG<D<EK:FDDLE8LK8@I<;L;@J:FLIJFLCk@EAFE:K@FESV:I@I<. . G@JF;<g,GF@C<I;kLE9<JF@E;kXKI<MLSC8EV:<JJ@KV;<MF@I. . . . #! . . +38+7:3+1/(+79A)7A'9/;+. . . . " !. . $+78:3+897'9A-/+*+)439+=9+. . . . %!. .
(12) " #" .
(13) . . . bKK<EK@FE IL<J D@EV<J c %< MF@:@ :< D8@C S CkF9A<K VE@>D8K@HL< HL< CkFE :IF@K S GI<D@WI< ML< J8EJ @DGFIK8E:< J@>E@=@:8K@M< <EMFPV ;< D8E@WI<=FIKL@K<<KHL@GFLIK8EKMFLJ@EM@K<SMFLJGFJ<IKFLK<LE<JVI@<;< HL<JK@FEJSGFLJJ<ILE<IV=C<O@FE<K=@E8C<D<EKS<EV:I@I<LEDVDF@I< . #!" " E)?FKF>I8G?@<;kLEDLI;8EJLE<IL<S&8IJ<@CC<AL@E
(14) . . e CkFLM<IKLI< ;< :< ;<IE@<I EFLJ 8G<I:<MFEJ LE< G?FKF>I8G?@< >C@JJV< <E G@W:<AF@EK<<KLE:FLIKK<OK<D<EK@FEE8EKC<C@<L;<C8:8GKLI<b8L;VKFLI ;kLE< IL<CC< D8IJ<@CC8@J<c %8 G?FKF DFEKI< ;<LO DFI:<8LO ;< G8G@<I @DGI@DVJ GL@J :FCCVJ JLI LE DLI CkLE 8L;<JJLJ ;< Ck8LKI< "C <JK @EJ:I@K b+<KI8@K;<C8CF@KI8M8@CFLFEJGF@C'3+5,!.854+9cJL@M@;<b G@JF;< +@:BFED<LIK #FE,EFN<JKJ8LMVG8IC</8C-?VFE I<PAFPD<LIK /@<EK S C8 D8E@= C< FL FE :FEK@EL<dc ,@>EV :5:5/ )8+= C< D<JJ8>< 8@EJ@ 8==@:?V Jk<OGFJ< <OGC@:@K<D<EK <E JGF@C<I LK@C@J8EK C8 D<E8:< ;kLE< . #3>9DQ@AED75:7D5:7E3G5G@7;@8AD?3F;A@5A?B>Q?7@F3;D7@_3BGSFD7FDAGHQ7EGD>7AG >7E3GF7GDE6757F388;5:397BG4>;5.
(15) . . . ;@MLC>8K@FE GIF:?8@E< ;< HL<CHL<J VCVD<EKJ ;< Ck@EKI@>L< ;kLE< JVI@< :FDD<DFP<E;<=8@I<GI<JJ@FE;<G<IJL8;<IJ<JC<:K<LIJSG8IK@:@G<ISLE< D8E@=<JK8K@FE:FEKI<C8CF@-I8M8@C K :FDD< GFLI I<;FL9C<I C8 D<E8:< C<J 8LK<LIJ VEFE:<EK ;kFI<J <K ;VAS HL<CHL<J 9I@9<J ;< :<KK< E8II8K@FE :FDD< GI<D@<IJ 8M<IK@JJ<D<EKJ ;kLE< JL@K<;<;@MLC>8K@FEJ %kF9A<:K@=<JKD8IHLVD8@JEFLJE<GFLMFEJK8I;<IS HL<JK@FEE<IC8:FD9@E8@JFE;<C8CF@-I8M8@C8M<:C8JVI@<'3+5,!.854+9 GFLIHLF@ :<J ;<LO VCVD<EKJ ;@JK@E:KJ J<D9C<EK@CJ @EK<IFGVI<I E8KLI<CC<D<EK;8EJ:<:FEK<OK<+<KFLIJLIC<J=8@KJ V9LK
(16) <JKEVLEEFLM<8LGIFA<K;<CF@M@J8EKSIV=FID<IC< F;<;L KI8M8@C ;VMF@CV <E I8E:< G8I C8 D@E@JKI< &PI@8D C $?FDI@ 8CFIJ <E =FE:K@FEJFLJC<>FLM<IE<D<EK;<&8EL<C/8CCJ ,8EJ<EKI<I;8EJC<=FE; ;<:<K<OK<@C<JKEV8EDF@EJGIV>E8EK;<I<C<M<IHL<:<;<IE@<I8=8@KCkF9A<K ;k@DGFIK8EKJ DFLM<D<EKJ :FEK<JK8K8@I<J P :FDGI@J :<CL@ @E@K@V C< AL@E
(17) S &8IJ<@CC< E JLJ ;k<JG8:<J ;< JF:@89@C@KVJ GCLJ FL DF@EJ GI@MVJ DV;@8JKI8;@K@FEE<CJ<KDV;@8JJF:@8LOFEK:FEKI@9LV;<=8UFE:<EKI8C<SC8 GL9C@:@J8K@FE ;L GIFA<K ;< CF@ <K ;<J DFLM<D<EKJ JkP FGGFJ8EK @EJ@ 656;2'8/9C CkVMVE<D<EK GFC@K@HL< ;<M<EL GIF9CWD< GL9C@: <JK <EKIV ;8EJ Ck<JG8:< GL9C@: ALJK@=@8EK ;< JFE FDE@GIVJ<E:< ;8EJ C< ;V98K JF:@8C CV>@K@D8EK ;< J8 GIVJ<E:< JLI :<K 8==@:?8>< S :<KK< GVI@F;< 'FE J8EJ J@D@C@KL;<;8EJCk8DGC@=@:8K@FEC8JVI@<'3+5,!.854+989VEV=@:@V<CC<8LJJ@ ;kLE<=FIK<DV;@8K@J8K@FECFIJ;<C8JFIK@<;<J8J@O@WD<J8@JFE<E I8E:< E 8MI@C
(18)
(19) <JK ;@==LJV< GFLI C8 GI<D@WI< =F@J <E I8E:< C< G@CFK< ;< C8 JVI@<8DVI@:8@E<8LO8CCLI<J;kVGFGV<DV;@VM8C<=8EK8JK@HL<GIF;L@K<G8IC8 :?8ZE<;<KVCVM@J@FE!( EJ@OJ8@JFEJC8JVI@<<JK;<M<EL<<E
(20) C8 GCLJ;V:FIV<;<Ck!@JKF@I<8M<: DDPN8I;JI<DGFIKVJ E;@==LJ8EK <E 8MI@C
(21) C< J<:FE; VG@JF;< ;< J8 J8@JFE ;8EJ
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
(23) . . . I<KI8EJD@J< 8L DFE;< E=@E ;<LO@WD< ;<J JVI@<J C<J GCLJ KVCV:?8I>V<J @CCV>8C<D<EK ;<GL@J J8 JFIK@< 8LO K8KJ.E@J g ;k8GIWJ C< 9CF> ;k@E=FID8K@FEJ JLI C< G8IK8>< ;< =@:?@<IJ -FII<EK I<8B g <CC< <JK ;<GL@J I<JKV<GI<D@WI<;L:C8JJ<D<EKEk8P8EK;<:<JJ<;k8::IFZKI<JFEJL::WJ %<J I<:FI;J JFEK EFD9I<LO GI<JHL< 8LK8EK HL< C<J :?@==I<J HL@ C8 ;V=@E@JJ<EK LJJ@ ;< :FEK<EL KVCVM@JL<C C8 JVI@< '3+ 5, !.854+9 <JK<CC< ;<M<EL< LE G?VEFDWE< GL9C@: GFGLC8I@JV G8I :<J JG<:K8K<LIJ ;<M<ELJ <EKI<GI<E<LIJ 8M<:Ck8@;<EFEELCC<;<JDV;@8J;<JFEFDE@GIVJ<E:< <KK<;<IE@WI<Jk<JK 8@EJ@VK<E;L<;<J<JG8:<JGCLJGI@MVJSCk<JG8:<GL9C@:ALJHL<;8EJC<JIL<J ;< &8IJ<@CC< F] <CC< Jk<JK ML F==I@I 8L DFD<EK ;< C8 JFIK@< ;< J8 J@O@WD< J8@JFE LE EFLM<C @EJK8EK DV;@8K@HL< 8LO :\KVJ ;kLE GIF9CWD< GL9C@: FD@E@HL< FLCC@<I 8AFLK<I8@K KIWJ :<IK8@E<D<EK HLkS Ck@D8>< ;< C8 KVCVM@J@FE<K',58:/58/;<JJVI@<J'3+5,!.854+98@:@I<MXKLC<bJK8KLK;< bK<DGJ HLk@C =8@Kc ;8EJ C<J C@<LO :FDDLEJ 4 5 ;kLE@M<IJ JLGGFJV :FDDLE. HL@. =FE:K@FEE<. :FDD<. K<C. ;8EJ. C<J. 8II8E><D<EKJ. :FEM<IJ8K@FEE<CJc &LE@ ;< :<KK< IV=C<O@FE JLI C8 GFGLC8I@J8K@FE ;< :<J ;<LO G?VEFDWE<J JF:@8LO EFLJ GFLMFEJ 8CFIJ <EM@J8><I EFKI< <O<DGC< :FDD< C< ;FEEV ;< GI<D@WI<J?PGFK?WJ<JJLICk8:K<;<;@MLC>8K@FE8@EJ@<E>8>V -FLK ;k89FI; EFLJ Ck<JHL@JJ@FEJ :<K 8==@:?8>< JL>>WI< Ck@EKVIXK ;kLE< GFJJ@9C<I<E:FEKI<<EKI<C<GIF;L:K<LI;kLE;@J:FLIJ<KC<JIV:<GK<LIJ;<:< ;<IE@<ID8IHL8EK8@EJ@CkLK@C@KV;LD<JJ8><>I@DV<E:?8EK8>< %<><JK<;< J:I@GK@FED<EV<JK8CFIJLE8:K<:FDDLE@:8K@=HL@@EMFHL<C<:FCC<:K@=HL@ Jk<EM@J8>< 8M8EK KFLK :FDD< C< G8IK8>< 8M<: C<J 8LKI<J ;kLE< GI8K@HL< ;< M@J@FEE8><G8JJV<;kLEVG@JF;<;<JVI@< k<JK;k8@CC<LIJCk<JJ<E:<DXD<;< Ck8:K<;<;@MLC>8K@FEE<G<LM<EKJGF@C<ICk@EKI@>L<;<'3+5,!.854+9HL< :<LOHL@C8:FEE8@JJ<EK;VAS 'FLJJFLC@>EFEJ@:@CkF9A<:K@=GI<D@<I;<:<J F9A<KJHL@<JK;kXKI<IV:<GK@FEEV E:<DXD<J<EJC<JVKL;<J;<=8EJFEK
(24). " $( ] 3?7A8):DA@7E;@6QFDU@34>7ED75AD6E^/7@>;9@70& /,$" *,"'& * *'" :FFB@7JF>;47D3F;A@8D5G>FGD7@7JF 93?7A8F:DA@7E;@67FDA@34>7ED75AD6 E1 . %*"" ' '&. *+,"'&,2$2'7@@7E6;F;A@"'(BB .
(25) . . . DFEKIVCk@DGFIK8E:<;kLE<I<C8K@FE;<G8IK8><8LJ<@E;<:FDDLE8LKVJ;< G8@IJ !<EIP #<EB@EJ EFK8DD<EK <OGC@HL< HLk8L D@E@DLD bC<J =8EJ I<JJ<EK<EK C< 9<JF@E ;< G8IC<I ;<J GIF>I8DD<J HLk@CJ I<>8I;<EK 8M<: ;k8LKI<J=8EJ4<KC<LI5IV:<GK@FEEk<JKG8J:FE:<M89C<;8EJCk@JFC<D<EK<CC< <JKKFLAFLIJ=8UFEEV<G8IC<J8GGFIKJ;<J8LKI<J=8EJc LJJ@C8EFK@FE;< G8IK8>< J< GIV:@J<K<CC< :FDD< Ck8:K< HL@ :FEJ@JK< S =8@I< ;L :FDDLE S GIF;L@I< LE ;@J:FLIJ ;< Ck<OGVI@<E:< ;< M@J@FEE8>< ;< JVI@<J ;FEEV 8L :FDDLE "C Ek<JK 8CFIJ G8J VKFEE8EK ;< :FEJK8K<I HL< C<J GIF;L:K@FEJ IV=CV:?@JJ<EK ;< GCLJ <E GCLJ C<J @EKI@>L<J GFLI <E =8@I< ;<J <OGVI@<E:<J JG<:K8KFI@<CC<J =FIK<J G8IJ<DV<J ;< DFD<EKJ G8IFOPJK@HL<J HL@ J<D9C<EK 8GG<C<I<E:FI<;8M8EK8><LE;VJ@I;<G8IK8><8M<:;k8LKI<J e:<KV>8I;C<J <==<KJ ;k@EKI@>L<J FL <E:FI< C<J )2/,,.'4-+89 8GG8I8@JJ<EK :FDD< ;<J GIF:V;VJ J:VE8I@JK@HL<J ;FEK C<JJ<E:< IVJ@;< 8LJJ@ <E C8 GIFMF:8K@FE ;kLE 9<JF@E;<;@J:LK<I;kV:?8E><I:FCC<:K@M<D<EKJFE<OGVI@<E:<4 FD9<J
(26) 5 )8ICSJL@M8EKC8IV=C<O@FE:FE;L@K<G8IRK@<EE< 8E;<CJLIC8 :I@K@HL< G8IK@:@G8K@M< C@KKVI8@I< EFLJ JLGGFJFEJ LE< :8G8:@KV G8IK@:LC@WI< ;<JfLMI<JJVI@<CC<JS,'/8+'-/8C<LIJJG<:K8K<LIJ4 9 5 ,@ '3+ 5, !.854+9 :FDGFIK< LE< =FI:< 8>@JJ8EK< HL@ J<D9C< CV>@K@D<I Ck<OGI<JJ@FE@CEk<EI<JK<G8JDF@EJHL<C8=FID<;LG8IK8><<E>8>VG8IC8 ;@MLC>8K@FE GL@JJ< JLIGI<E;I< <K XKI< HL<JK@FEEV< "C P 8 <E <==<K ;8EJ :< ><JK< ;< J:I@GK@FE LE< @EK<EK@FE @;<EK@=@89C< HL@ Ek<JK G8J J8EJ ;V=@E@I CkF9A<:K@= DXD< ;kLE JGF@C<I HL< EFLJ 8MFEJ 9I@WM<D<EK VMFHLV GCLJ K\K <CL@ ;< EFKI< <O<DGC< Ek<JK ELCC<D<EK 8EF;@E :FDD< GFLII8@K CkXKI< LE ;VJ@I ;< G8IK8>< DLV <E ;@MLC>8K@FE @E:FEJ:@<EK< @C <JK 8L :FEKI8@I< LE< MFCFEKV D8C@>E< DFP<E J<D9C<K@C ;< D8IHL<I LE< ;@JK@E:K@FE G8I C8 D@J< <E 8M8EK ;< C8 :FEE8@JJ8E:< %k8LK<LI ;< :<K 8==@:?8>< J8@K HL<CHL< :?FJ<HL<J<JGFK<EK@<CJC<:K<LIJE<J8M<EKG8J<KHLk@CJ8@KHLk@CJE<J8M<EK G8J %kF9A<K ;< :<KK< ;@==VI<E:< 8@EJ@ D8IHLV< :<KK< AFL@JJ8E:< ;< C8 . &AGD3HA;DG@3B7DPG6757E@AF;A@EHA;D>75:3B;FD767>3F:RE767>Q?7@FA?47E67
(27) ;@F;FG>Q Y&3DF397D 7@FD7 B>3;E;D ;@F;?7 7F 35F;H;FQ 5A>>75F;H7Z 63@E (*,")- + +2*" + ,2$2."+2 + -& +' "'$' " $5 ,".",2 +( ,,'*" $$ 5A@A?;7E 7F 8;@3@57E 5A>7 $3F;A@3>7(GBQD;7GD767E#;@7E67&3D;EBB
(28)
(29)
(30)
(31) $! $( /,-$ ' ! *+ $ ."+"'& &+ & *," "(,'*0 -$,-* $7I -AD='AGF>7697B .
(32) . .
(33) . GFJJ<JJ@FE;<C8:FEE8@JJ8E:<<JK@:@LK@C@JV<:FDD<DFP<E;k@EK@D@;8K@FE ;< G<IJL8J@FE %8 J<LC< ML< C8 J<LC< @EJ:I@GK@FE J:I@GKLI8C< ;< :<KK< ;@JK@E:K@FEJ<IK@:@;<D<E8:< <C8D<E8:<SC8;@MLC>8K@FE@CEkP88CFIJ HLkLEG8JHL@J<D9C<GFLMF@IKIFLM<IJ8=@E;8EJC<;VGC8@J@ID8E@=<JKV;< Ck8LKI< LJJ@;8EJEFKI<@CCLJKI8K@FE:k<JKC<;VGC8@J@IM@J@9C<D<EKI<:FEEL ;L=8@K;<C8GFGLC8I@KV;<C8JVI@<HL@;FEE<KFLKJFE@EKVIXKSCk@EJ:I@GK@FE CC<8J8:8G8:@KVJ@>I8E;<;<>T:?<IC<GC8@J@I;k8LKI<JJG<:K8K<LIJHL<C8 ;@==VI<E:<D8IHLV<;<Ck8LK<LI8M<:<LO<E<JKDV:8E@HL<D<EKGCLJ>I8E;< <J ;@J:FLIJ >I@DVJ <E JGF@C<IJ G<LM<EK 8@EJ@ J< G<EJ<I <E GI<D@<I C@<L :FDD< F9A<K HL@ :FEMFHL< LE GIV:FEJKIL@K @;VFCF>@HL< F] C< JG<:K8K<LI 8LK<LI;<Ck@EJ:I@GK@FE<EM@J8><I8@K8@EJ@J8;@JK@E:K@FE8LJ<@E;L:FCC<:K@= %kVKPDFCF>@< ;L K<ID< ;< C8HL<CC< ;V:FLC< J8 ;V=@E@K@FE :FEK<DGFI8@E< 8I>LD<EK< V>8C<D<EK <E :< J<EJ E <==<K JGF@C<I <JK LE 8E>C@:@JD< 8LO I8:@E<J C8K@E<J HL@ ;V=@E@K ;8EJ C< :8;I< HL@ EFLJ F::LG< C< =8@K ;< :FDDLE@HL<ISLE<G<IJFEE<LEVCVD<EKJ:VE8I@JK@HL<:CV;kLE<E8II8K@FE C8;VGFJJV;8EK8@EJ@;kLE<>I8E;<G8IK;LJLJG<EJ<G8I89LJ;<65;<5/8 %< IV:<GK<LI G8JJ< 8@EJ@ I8G@;<D<EK ;< C8 DV:FEE8@JJ8E:< S C8 :FEE8@JJ8E:< G8I C< =8@K ;kLE 8LKI< C< GCLJ JFLM<EK J8EJ Ck8MF@I JFL?8@KV )CLJ <E:FI< HLkLE< ;@==VI<E:< C<J JGF@C<IJ J<I8@<EK @EKI@EJWHL<D<EK C8 D8IHL< ;kLE GFLMF@I<JJ<E:<;kLE<JLGVI@FI@KV;<:<CL@HL@J8@KJLI:<CL@HL@E<J8@KG8J LJJ@KFLK<J:?FJ<JEFDDV<JFL8JJF:@V<J8LK<ID<JGF@C<I<E:8GJLC<EKLE .58/@54*H'::+4:+4! + #8LJJ
(34) :@KVG8IR 8E;<C 95GIFGI< S C8 ;V=@E@K@FE ;< J8 IV:<GK@FE EFK8DD<EK JF:@8C< e Ck@EJK8I ;L DFK b:I@K@HL<c VKL;@V G8I RK@<EE< 8E;<C C< K<ID< =8@K F==@:< ;< bIV=VI<E:< C8K<EK< <K @DGC@:@K< :FDD< Jk@C JL==@J8@K ;< CkVMFHL<I GFLI JLJ:@K<I :?<Q C< C<:K<LI C< IV>@D< ;< IV:<GK@FE :FII<JGFE;8EK 4 5 "C E< Jk8>@K G8J J<LC<D<EK;kLE<==<K;k@EJ@JK8E:<D8@J8LJJ@;kLE<==<K;k8::VCVI8K@FE;<C8. . . &AGDD7?A@F7DB>GE>A;@63@E>_QFK?A>A9;76GF7D?7HA;D>_3@@7J7 "3@AF;A@67BAGHA;DE7D3;@FQD7EE3@F7N;@F7DDA97DE7>A@E36AG4>73557BF3F;A@_34AD6. 57>>767E38AD?7H7D43>7CG;6Q5D;F>783;F6_SFD753B34>76783;D7CG7>CG75:AE7BG;E57>>7 67E38AD?7@A?;@3>7CG;6Q8;@;F>3BAEE;4;>;FQ67BDA6G;D7G@7887FEGDCG7>CG_G@.
(35) . .
(36)
(37) . :FDGIV?<EJ@FE ;L C<:K<LI JLI C8 GFIKV< ;L D<JJ8><c %< JGF@C<I 8@EJ@ @;<EK@=@V Jk8GGI@MF@J< JL@M8EK C8 JVD@FCF>@< ;< ?8IC<J , )<@I:< :FDD< Ck@E;@:< :FEJL9JK8EK@<C ;< :<KK< :FEJFDD8K@FE J@E>LC@WI< HL@ G<ID<K Ck8:HL@J@K@FE ;kLE< :FEE8@JJ8E:< GL@J F:KIF@< C< GFLMF@I ;< ;@MLC>L<I LE< @EKI@>L< V;@=@8EK =@E8C<D<EK :< HL@ J<D9C< XKI< LE< ?@VI8I:?@< JF:@8C< JPD9FC@HL< 8L J<@E ;kLE DXD< >IFLG< ;< JG<:K8K<LIJ =8EJ ;kLE< DXD< JVI@<K<CC<HL<'3+5,!.854+9 '<K8I;FEJG8J;8EJ:<;<JJ@ESD<EK@FEE<IHL<C8IV:<GK@FEEk<E<JKGFLI 8LK8EKG8JG8JJ@M<GL@JHL<HL<C<JJGF@C<IJEkFEK;<M8C<LIHL<J@:<LOHL@ C<JC@J<EKJFEKIV:<GK@=JSCkVEFE:@8K@FE %8;@MLC>8K@FEEk8<E<==<K;<J<EJ HL<GFLI:<CL@HL@I<>8I;<CkF9A<K:LCKLI<C:FE:<IEVC<:FEJFDD<FL8JG@I< S C< :FEJFDD<I <K ;< GCLJ <EKI< <E :FEK8:K 8M<: C8 D<E8:< FL C< JGF@C<I CL@DXD< %8D8E@=<JK8K@FE;L;VGC8@J@IHL<EFLJVMFHL@FEJGCLJK\KEFLJ G8I8ZKKFLK8LK8EK<JJ<EK@<CC<<E:<HLk<CC<I<E;VM@;<EK<<CC<;FEE<SMF@I C8 IV:<GK@FE JL@M8EK C<J I8:@E<J C8K@E<J ;L K<ID< 3'4/,+9:;9 CC< G8I8ZK 8CFIJKFLK8LK8EKEV:<JJ8@I<;8EJCk8:KL8C@J8K@FE;<C8JLGVI@FI@KV;<Ck8LK<LI ;<JGF@C<IJJLIJ<JIV:<GK<LIJ %<C@<EVKIF@K<EKI<@E;@M@;L<C<K:FCC<:K@=
(38) <EKI<Ck<OGI<JJ@FE@E;@M@;L<CC<<KJ8;@==LJ@FE;8EJC<:FCC<:K@=8GG8I8ZK8CFIJ <E:FI< GCLJ J@>E@=@:8K@M<D<EK <J C@<EJ JF:@8LO <E>8>VJ G8I C8 GFJJ@9C< I<E:FEKI< 8GG8I8@JJ<EK <E <==<K :FDD< C< DFP<E ;kLE< :FEJKIL:K@FE @;<EK@K8@I< ;kLE< D@J< S CkVGI<LM< ;< Ck@;V< HLkLE JG<:K8K<LI J< =8@K ;< J8 GIFGI<JG<:K8KLI<
(39)
(40) ;<J8GIFGI<M8C<LIb<K4;L5;VE@;<I<:FEE8@JJ8E:< :FDD<J8EV>8K@FEc
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
(42) . .
(43) . FDD<Ck8VEFE:V CVD<EK FD9<J8M8EKEFLJ4
(44) 5;<C8G8JJ@FE JVI@<CC< C< =8E ;< '3+ 5, !.854+9 =8@K =@E8C<D<EK DFEKI< ;kLE< DLCK@KL;< ;<:FDGVK<E:<J8==VI<EK<JSJ<JDLCK@GC<JJK8KLKJ ,@DLCK8EVD<EK @ LE JG<:K8K<LIC<:K<LI ;< J:VE8I@FJ S MF@I <K S @EK<IGIVK<I )536C:+4)+9.+83C4+;:/7;+9 @@LE JG<:K8K<LI<OG<IK DF9@C@J8EK ;@M<IJ<J :8G8:@KVJ GIFGI<J S MF@I C<J VG@JF;<J I8G@;<D<EK 8GIWJ C<LI ;@==LJ@FE 8LO K8KJ.E@J )536C:+4)+9:+).4/7;+9 @@@LEJG<:K8K<LI8LK<LIJ<=8@J8EKG8IK<E8@I<;kV:?8E><J8LJ<@E;kLE< :FDDLE8LKV ;< G8@IJ G8JJ@FEEVJ <K :FDDLE@:8EKJ DV;@VJ G8I -N@KK<I)536C:+4)+995)/'2+9 < EFKI< GIFGI< <OGVI@<E:< HLFK@;@<EE< JLI C< J@K< ;< D@:IF9CF>>@E> -N@KK<IC8D<E8:<8LK8EKHL<C8I<:?<I:?<;<;@JK@E:K@FEG8IC8=@>LI8K@FE ;kLE< JLGVI@FI@KV g FL S Ck@EM<IJ< ;kLE< @E=VI@FI@KV g J<D9C<EK V>8C<D<EK FGVI<IJLIC<;@JGFJ@K@=8LKI<D<EKHL<JLI:<K8==@:?8>< . #!" " ! E)L9C@:8K@FEJ@JJL<J;<EFKI<:FIGLJ8EE<O<
(45) . . %k8II@MV<;k"EK<IE<K8<E<==<K8DGC<D<EK:FEKI@9LVSI<E;I<M@J@9C<C83/9+ <EC@<E;<JJG<:K8K<LIJ;<JVI@<JI<EFLM<C8EKG8ICSDXD<C<J:FE;@K@FEJ;<.
(46) . .
(47) . G8IK8>< JLI C<J 8C9+';> =@E8C<D<EK C<J DF;8C@KVJ ;< 3/9+ +4 8C9+';> ,LI -N@KK<I C<J I<:?<I:?<J <E J:@<E:<J JF:@8C<J FEK C8I><D<EK <DGILEKV :<J :?<D@EJ ;k8E8CPJ<J JLI C8 J@>E@=@:8K@FE JF:@8C< ;<J GI8K@HL<J ;< G8IK8>< ;VDFEKI8EK ;8EJ LE DXD< DFLM<D<EK Ck@EKVIXK ;<J @E;@M@;LJ @EJ:I@KJ JLI :<JIVJ<8LOGFLI:<JEFLM<CC<J=8UFEJ;<=8@I<;LC@<EJF:@8C FDD<C8IL< D8IJ<@CC8@J< ;8EJ EFKI< <O<DGC< @E@K@8C C< ;@JGFJ@K@= -N@KK<I J< G<EJ< :FDD< C< C@<L <K C< DFP<E ;< :FEK8:KJ <EKI< ;<J @EK<IE8LK<J G8I C<J :FDDLE@:8K@FEJ<E>8>V<JG8I<LO<EJFEJ<@E k<JK;8EJ<KG8ICL@HL<J< :IV<EK;<EFLM<CC<J=FID<J;<JF:@89@C@KVHL@<E>8><EK;<JDF;<J@EV;@KJ;< GIF;L:K@FE <K ;< DV;@8K@FE ;< JF@ ;FEK C< J<EJ J< ;V=@E@K ;8EJ <K G8I C< JF:@8C4 I8EAFE56)/:5 <:<GF@EK;<ML<-N@KK<IJk<EM@J8><:FDD< LE <JG8:< ;k/4:+83C*/':/549 LKI<D<EK ;@K J<CFE JFE FI@>@E< C8K@E< /4:+83+*/;9 @C <JK :< HL@ K@<EK C@<L ;< D@C@<L S C8 =F@J GC8:< <K FLK@C ;< I<E:FEKI<J <EKI< ;<J @E;@M@;LJ :FDDLE@:8EKJ 'FE J<LC<D<EK LE <JG8:< ;k@EJ:I@GK@FEJ @E;@M@;L<CC<J @C <JK V>8C<D<EK :<CL@ ;kLE A<L JF:@8C ;< =@>LI8K@FE;k'):/54<K;<8C'):/54 ;<DV;@8K@FEJ@EK<IDV;@V<JGFLIC<;@I< ;<=8UFEKI@M@8C <JDV;@8JJF:@8LObJFEKC8IW>C<;LA<L<KC<A<LCL@DXD< ;< C8 :FE=IFEK8K@FE <K ;< C8 :F:FEJKIL:K@FE )CLJ HLkLE =8@I< G8IC<I C< DV;@8 =8@K ;@8CF>L<Ic
(48) ,<J :8;I<J ;< Ck@EK<I8:K@FE J<D9C<EK 8@EJ@ :8I8:KVI@J<I C8 GIVJ<E:< ;< J<J LK@C@J8K<LIJ KFLK <E C<J :FE;L@J8EK S LE< =@>LI8K@FE ;k<LO G8I ;<J DF;<J ;k<E>8><D<EK JF:@8C D8E@=<JKV GI@E:@G8C<D<EKG8IC<ELDVI8@I<;FEKEFLJGFJFEJCk@;V<HLk@CJG8IK@:@G<EK 8M<:C<JJGF@C<IJ;kLE<IVFI>8E@J8K@FE;<JC@<EJ<K:8;I<JJF:@8LO E:<C8 GIV:@JVD<EK EFLJ GFJFEJ C8 HL<JK@FE ;L I\C< ;< -N@KK<I ;8EJ C< ;VM<CFGG<D<EK <K C8 JKIL:KLI8K@FE ;< :<J J@KL8K@FEJ :FDDLE@:8K@FEE<CC<J HLk@C 8::L<@CC< 'FLJ =8@JFEJ Ck?PGFK?WJ< HL< :< ;<IE@<I <E 8::L<@CC8EK <K =FIDLC8EKC<J:8;I<J;<;@MLC>8K@FEJJ:VE8I@JK@HL<JG8IK@:@G<V>8C<D<EK;< .
(49). 7FF7 @AF;A@ 6_35F;A@ 7F 67 DQ35F;A@ F;7@@7 3@67> >_7JB>;5;F7 5A??7 FQ?A;@ 6_G@ Q5:3@97@AF3??7@F7@>3D3FF35:3@F3G6GA6A@5A@FD76A@Q@A@5QB3D#3D57>#3GEE Y"7 5AGB>7 67 @AF;A@E 6A@ 5A@FD76A@ 7JB>;CG7 #3GEE 7EF 53D35FQD;EQ B3D G@ EKEFR?7 6_Q5:3@97 ?3;E 57F Q5:3@97 @_7EF B3E ?3DCGQ B3D G@7 F7?BAD3>;FQ BDQ5;E7 >3 EBQ5;8;5;FQ 67 57F Q5:3@97 F;7@F 3G 53D35FRD7 6;88QDQ 67E FD3@E?;EE;A@E "3 F7?BAD3>;FQ 7@ 7>>7?S?7 @_7EF B3E 8;JQ7 >3 H3>7GD 67E 4;7@E @_7EF B3E @A@ B>GE >_A4<7F 6_G@7 ?7EGD7 7F 6_G@7 5A?B3D3;EA@ 7E Q>Q?7@FE B7D?7FF7@F 67 D7@6D7 5A?BF7 3H75 473G5AGB 67 5>3DFQ 67E BD3F;CG7E5D;F;CG7EB3DF;5;B3F;H7E7@F3@FCG_7>>7EEA@FB3DF;5;B3F;H7E>7EQ5:3@97EEA@F7GJ 3GEE;6;88QDQE7F>7E5A@FD;4GF;A@EEA@F6_;@Q93>7H3>7GD7FCG3@F;FQZ/'( ", 0. $"'( ",B
(50) .
(51) . .
(52) . C8 JKIL:KLI8K@FE ;L :?8DG JF:@8C ;< C8 ?@VI8I:?@J8K@FE JPD9FC@HL< ;<J JG<:K8K<LIJ ;< '3+ 5, !.854+9 <EKI< <LO "C Jk8>@K =@E8C<D<EK ;< Jk@EKVI<JJ<I DF@EJ S LE bHL@ :FDDLE@HL<c HLkS LE b:FDD<EK FE :FDDLE@HL<cJLI-N@KK<IJL@M8EKC8DXD<G<EJV<;k K@<EE< 8E;<C456 )/:
(53) 5 <KK< ;<IE@WI< ?PGFK?WJ< :FE;L@K J<CFE EFLJ S C8 GCLJ GIV>E8EK< ;< EFJ @EKL@K@FEJ S CkFI@>@E< ;< :< KI8M8@C +<G8IK8EK S C8 JFLI:< ;< :<J C@>E<J IV=C<O@M<JEkFL9C@FEJG8J<E<==<K;<GF@EK<I;L;F@>KC<=8@KHL<:<J@EK<I DV;@8K@FEJE<GFLII8@<EK8MF@IC@<LJ8EJ;<JF9A<KJ@E@K@8LOHL@G<ID<KK<EK CkV:I@KLI< ELDVI@HL< ;< JGF@C<IJ EFLJ G8ICFEJ 8CFIJ ;<J JVI@<J )FLI I<GI<E;I< C8 =FIDLC< ;< &@:?<C ;< <IK<8L :FDD< 8 GL C< =8@I< CVD<EK FD9<J 8LG8I8M8EK 456 )/: 5 @C Jk8>@K ;< :FDGI<E;I< b:< HL< C<J @E;@M@;LJ=FEK8M<:C<JJVI@<JFL<E:FI<J<CFELE<4 5=FIDLC8K@FEGCLJ GI8>D8K@JK< HLk<JK:< HL< C<J JVI@<J =FEK =8@I< 4<K G<ID<KK<EK ;< =8@I<5 S C<LIJJG<:K8K<LIJc 8EJ:<DFLM<D<EKAk8:K@M<Ck@;V<J<CFEC8HL<CC<C<J JG<:K8K<LIJJ:I@GK<LIJ ;< JGF@C<IJ JLI -N@KK<I JFEK Ck<JJ<E:< <K C< DFK<LI ;kLE<G<I=FID8E:<HL@JL::W;<SC8C<LI <CC<;kLE:F8::FDGC@JJ<D<EK;L :FLGC< IV:<GK@FE LJ8>< G8IK M@J@9C< ;kLE< ;@==LJ@FE <==<:K@M< ;<J fLMI<J JVI@<CC<JSC8HL<CC<C<DV;@8G8IK@:@G<<EC@<L<K:8;I<;<J8:K@FEJ@E@K@8C<J ;< G8IK8>< K :k<JK :<KK< ;<IE@WI< IV=C<O@FE HL@ =FE;< =@E8C<D<EK D8 HL<JK@FE;<I<:?<I:?<*'386:+11+2+8:7+1+8/38)7/59/438*+854/1+78 8:7"</99+78439+11+81F47/-/3+*F/39+72A*/'9/4386:/5'79/)/5+39@1' )/7):1'9/43+91')438422'9/43*+88A7/+86:F+11+8*/;:1-:+39 =@E ;< IVGFE;I< S :<KK< HL<JK@FE EFLJ =<IFEJ VMFCL<I EFKI< 8E8CPJ< JL@M8EK KIF@J 8O<J HL@ G8IK@:@G<EK :?8:LE S C8 :FE=@ID8K@FE ;< EFJ ?PGFK?WJ<J @-FLK;k89FI;EFLJ8E8CPJ<IFEJCk8:K<;<;@MLC>8K@FE:FDD<=FID<;kLE G8IK8>< @E@K@V< G8I Ck<OGVI@<E:< ;< M@J@FEE8>< HL@ CL@ GIV:W;< <KK< VKL;< EFLJ :FE;L@I8 EFK8DD<EK S :FEJ@;VI<I Ck@DGC@:8K@FE ;< CkfLMI< JVI@<CC< ;8EJ :<J ;@J:FLIJ G8IK8>VJ =IL@K ;kLE 8KK8:?<D<EK 8EJ :<KK< :FEK@EL@KV.
(54) . .
(55) . EFLJ <EM@J8><IFEJ V>8C<D<EK -N@KK<I :FDD< ;@JGFJ@K@= ;k@EJ:I@GK@FE D8KVI@<CC< ;< :<J ;@J:FLIJ <K :FDD< C@<L <K DFP<E ;< :< G8IK8>< <EKI< JG<:K8K<LIJIVLE@J;8EJ<KG8IC<DV;@8 @@ < CS EFLJ GF@EK<IFEJ ;L ;F@>K CkVE<I>@< ;@J:LIJ@M< Ck@EM<JK@JJ<D<EK G<IJFEE<C ;< Ck8LK<LI ;< JGF@C<IJ ;WJ CFIJ HLk@C J< GIVJ<EK< 8LO 8LKI<J <K FI>8E@J< JL@M8EK LE< G<EJV< FEKFCF>@HL< J8 GIFGI< =@>LI8K@FE ;VK<ID@EV< JF:@8C<D<EK <K :LCKLI<CC<D<EK "C Jk8>@I8 CS ;k8DFI:<I CkVKL;< ;kLE @EK<I8:K@FEE@JD< JPD9FC@HL< ;LHL<C ;V:FLC< EFLJ JLGGFJFEJ LE DFP<E GFLI C<J J:I@GK<LIJ ;< ;@MLC>8K@FEJ ;< MV?@:LC<I ;<J I<GIVJ<EK8K@FEJ ;kVC89FI<I;<J:8;I<JJF:@8LO8LJ<@E;<JHL<CC<J@CJFI>8E@J<EKC<LIGIFGI< I<:FEE8@JJ8E:< . <. :<KK<. 8::<GK8K@FE. EFLJ. EFLJ. 8KK8:?<IFEJ. G8IK@:LC@WI<D<EK S VKL;@<I C< I\C< ;< C8 IV:<GK@FE G8I C< GI@JD< ;< J8 D8E@=<JK8K@FE;8EJC<KVDF@>E8><;kLE<EV:<JJ@KV;kXKI<CL<K;kXKI<MLGFLI E:8+ .E< EV:<JJ@KV ;k<O@JK<I ;kXKI< M@J@9C< JF:@8C<D<EK S C8HL<CC< C8 IV:<GK@FE;<JJGF@C<IJ<CC<DXD<E<J<D9C<GFLMF@IV:?8GG<I @@@ E=@E EFLJ M<IIFEJ HL< C8 JKIL:KLI< V;@KFI@8C< <K C<J GFJJ@9@C@KVJ K<:?E@HL<JF==<IK<J8LOLK@C@J8K<LIJG8IC<DV;@8:FEKI@9L<EKV>8C<D<EKSC8 GFJJ@9@C@KV ;kLE< M8CFI@J8K@FE ;<J JG<:K8K<LIJ8LK<LIJ DFK<LI JFLM<EK ;< C<LIDV;@8K@J8K@FESCk@EKVI@<LID8@J8LJJ@SCk<OKVI@<LI;L;@JGFJ@K@= <CS EFLJVKL;@<IFEJC<JG<:K8:C<;<C8M8CFI@J8K@FE;<C8M@J@9@C@KVJF:@8C<8LJ<@E ;< C8 :FDDLE8LKV ;< =8EJ :FDD< GIV:LIJ<LI ;kLE ?PGFK?VK@HL< :<I:C< M<IKL<LO ;< C8 :FDDLE@:8K@FE <K =@E8C<D<EK :FDD< DFK<LI ;< C8 :FEJFDD8K@FE;<JJVI@<JJFLJC8=FID<;kLE<@EAFE:K@FESMF@I FDD< LE :C@E ;kf@C S EFKI< JLA<K :<J KIF@J 8O<J J<IFEK ;V:FLGVJ <E J8@JFEJ GL@J <E VG@JF;<J @EJ@ EFLJ I<M@<EK@C C8 CFLI;< KT:?< ;< MFLJ :FE;L@I< ALJHLk8LO ;<IE@WI<J C@>E<J ;< :< KI8M8@C ;< I<:?<I:?< S <E :FEE8ZKI<C<;VEFL<D<EK8=@EEFLJCk<JGVIFEJ;<MFLJ:FE;L@I<SC<JGF@C<I .
(56) ?" .
(57) . .
(58) . FDD< :<C8 Jk<JK ;VAS C8@JJV GIVJ8><I CFIJ ;< EFKI< @EKIF;L:K@FE EFKI< KI8M8@C E< J< 9FIE<I8 G8J S C8 G<EJV< JGV:LC8K@M< J<LC< D8@J Jk8C@D<EK<I8 9@<E 8L :FEKI8@I< ;< CkF9J<IM8K@FE ;<J @EK<IDV;@8K@FEJ ;@J:LKV<J 'FKI<8E8CPJ<J<I8=FE;V<JLILE<8GGIF:?<D@:IFJF:@8C<:k<JKS ;@I< JLI CkVKL;< ;<J C@8@JFEJ VCVD<EK8@I<J
(59) ;<J JKIL:KLI<J JF:@8C<J ;kLE >IFLG< ;k@E;@M@;LJ @EM<JK@J JLI C8 GC8K<=FID< -N@KK<I L I<>8I; ;< C8 ;V=@E@K@FE ;< C8 D@:IFJF:@FCF>@< GIFGFJV< G8I )8LC &LJ EFLJ EFLJ @EKVI<JJ<IFEJG8IK@:LC@WI<D<EKSCkF9J<IM8K@FE;kLEbJF@c<E>8>VG8ID@C<J 8LKI<J8LJ<@E;kLE;@JGFJ@K@=K<:?EFJVD@FK@HL<G8IK@<@EKV>I8EK<;<EFKI< 8E8CPJ< )FLI :<C8 EFLJ GIFGFJFEJ LE :FIGLJ :FDGFJV ;< KN<<KJ 8>IV>VJ G8I Ck@EK<IDV;@8@I<;kLE<I<:?<I:?<;@I<:K<D<EKJLIC<DV;@8IV8C@JV<C<D8@
(60) FEJ@;VI8EK C8 GFCPJVD@< S C8 =F@J ;L K<ID< bJGF@C<Ic <K ;< C8 ;VEFD@E8K@FE ;< C8 JVI@< '3+ 5, !.854+9 g JFLM<EK G8I C8 :IV8K@FE ;kLE< IV;L:K@FEJPEK8>D8K@HL<K<CC<HL< F-EFLJ8MFEJGIV=VIV;VC@D@K<IEFKI< I<:?<I:?< 8L DFK bJGF@C<Ic <K S Ck8GG<CC8K@FE :FDGCWK< ;< C8 JVI@< < :?F@O8VKV;VK<ID@EVG8IC<:FLGC<;<DFKJHL@J8LI8@KIVLE@IC<MFCLD<C< GCLJ@DGFIK8EK;<GL9C@:8K@FEJ ,L@M8EKCkLE<;<EFJ?PGFK?WJ<J;<;VG8IK JLI C< I\C< ;< -N@KK<I ;8EJ Ck8::L<@C ;< :5;:+9 C<J G8IFC<J EFLJ Ek8MFEJ V:8IKVJ ;< :<KK< 8>IV>8K@FE ';);4 GFJK E@ ';);4 8LK<LI g GIF=<JJ@FEE<C FL JG<:K8K<LI %kF9A<:K@= @E@K@8C VK8@K 8CFIJ ;< I<E;I< :FDGK< ;< KFLK<J C<J =FID<J;k@EJ:I@GK@FEJ AFLKFEJ CkLK@C@J8K@FE ;< ;<LO =@CKI<J GFLI ;VC@D@K<I C<J IVJLCK8KJ S C8 =F@J G8I C8 K<DGFI8C@KV ;L ><JK< ;< J:I@GK@FE <K G8I C8 C8E>L<;< IV;8:K@FE k89FI; :FE:<IE8EK C8 K<DGFI8C@KV EFLJ Ck8MFEJ 9FIEV S LE< GVI@F;< GIV:@J<:8I:FDD<EFLJCk8MFEJD<EK@FEEV<K:FDD<EFLJCkVKL;@<IFEJGCLJ . *'+ )
(61) ++"+ +' "'$' " $ + '*% + $+' ""$",2$ (*'$3% $ '&+ " & '$$ ,". $ % " , $ *'", $ %'*$
(62) -*#! "% &3D;E ";4D3;D;7 6G '75G7;>(;D7KB. .
(63) . .
(64) . CFE>L<D<EKGCLJK8I;JGF@C<I<JK8M8EKKFLKLE<8:K@M@KV=FIK<D<EK:FIIVCV< 8L K<DGJ ;< C8 ;@==LJ@FE 8L K<DGJ ;< C8 D@J< S ;@JGFJ@K@FE ;< C8 JVI@< JLI "EK<IE<KGI@E:@G8C<D<EK <CSC<GI<D@<IVG@JF;<;<C8J8@JFE;<'3+9 5,!.854+9VK8EK;@==LJV8LO K8KJ.E@JC< 8MI@CJLIC8:?8ZE<!(<KC< C<E;<D8@E<E8::WJC@9I<JLIC<JJ@K<J;<G@I8K8><EFLJ8MFEJ;FE:;V:@;V ;<EFLJ:FE:<EKI<IJLIC<J@EJ:I@GK@FEJ;8KV<J;L 8MI@C
(65) EJL@K< Jk8>@JJ8EK ;< C8 C8E>L< Ck@EK<EK@FE VK8@K ;< D<KKI< S CkVGI<LM< C<J GI@J<J;<G8IFC<;<JG<:K8K<LIJ',58:/58/@EKV>IVJ;8EJLEDXD<D8I:?V;< C8:LCKLI<E8K@FE8C<;FE:D@JJLILEDXD<G@<;;kV>8C@KVHL8EKSC8D@J<S ;@JGFJ@K@FE;<JVG@JF;<J;<JVI@<JGI@E:@G8C<D<EKgEFK8DD<EK;L=8@K;<C8 CV>@JC8K@FE <E D8K@WI< ;k<OGCF@K8K@FE ;<J :FEK<ELJ LKI<D<EK :FE=IFEK<I C<JGL9C@:J=I8EU8@J<K8DVI@:8@EG8I<O<DGC<8LI8@<EKVKVGI<E;I<C<G8IK@ ;<D<KKI<<ED@IF@I;<JJG<:K8K<LIJHL@E<JFEKG8JV>8LO=8:<SC8;@==LJ@FE ;<J :FEK<ELJ @E@K@V< G8I C<J GIF;L:K<LIJ < =@CKI< GIVJ<EK< :<G<E;8EK LE< C@D@K< <E :< HL< G8IC<I =I8EU8@J E< ;VK<ID@E< G8J C8 J@KL8K@FE >VF>I8G?@HL<D<EK ;< Ck8LK<LI <E KVDF@>E< EFK8DD<EK :< KN<<K ;kLE JG<:K8K<LI HL@ M@J@9C<D<EK Ek<JK G8J JLI C< DXD< =LJ<8L ?FI8@I< 'V8EDF@EJ :<C8 E< J<D9C< G8J XKI< LE VCVD<EK ;@JHL8C@=@8EK GFLI EFKI< ;VDFEJKI8K@FEEFLJC<M<IIFEJ . #!" " E)L9C@:8K@FE@JJL<;<EFKI<:FIGLJ8EE<O<
(66) . . -FLK8LCFE>;<EFKI<KI8M8@C:<:FIGLJEFLJ88CFIJJ<IM@;kF9J<IM8KF@I<S EFKI< VKL;< 8L ;VM<CFGG<D<EK ;< EFKI< IV=C<O@FE <K =@E8C<D<EK S Ck@CCLJKI8K@FE;<:<CC<:@8L:FLIJ;<JG8><JJL@M8EK<J .
(67) !! ,)("% +,.+-0"-- +(.%k.-(+",-"(' .)+- ,.+.'&R " (&&.'.-"+ .
(68) . . . )FLIHLF@KIFLMFEJEFLJ;<JJGF@C<IJJLI-N@KK<I,@C8HL<JK@FEE< J<D9C<G8JJ<GFJ<IGFLIM8CJPC9<IgMF@IC8GL9C@:8K@FE:@;<JJFLJg<CC< EFLJ G8I8ZK GFLIK8EK G<IK@E<EK< S JFLD<KKI< GFLI @EK<IIF><I :<KK< 8GG8I<EK<E8KLI8C@KV;<C8GIVJ<E:<;<:<J;@J:FLIJ8LJ<@E;L;@JGFJ@K@=g<K IVLE@J8LJ<@E;<EFKI<:FIGLJ <LO:@G8I8@JJ<EK<E<==<KXKI<C<J@>E<;kLE ;VJ@I;<G8IK8><;kLE<<OGVI@<E:<JVI@<CC<;<JJG<:K8K<LIJ;<C<LIGI8K@HL< ;<M@J@FEE8><G8JJV<;kLEVG@JF;<;<JVI@< . #!" " E)L9C@:8K@FE@JJL<;<EFKI<:FIGLJ8EE<O<
(69) . . :<C8 KFLK 8LJJ@ E8KLI<CC<D<EK -N@KK<I G8IK@:@G<I8@K <E JFCLK@FE K<:?E@HL< ;k@EJ:I@GK@FE D8KVI@<CC< ;< :<J ;@J:FLIJ < =8@J8EK @C 8I9FI<I8@K 8CFIJC<JK8KLK;<DV;@8;<C@9I<<OGI<JJ@FE8LJ<@E;LHL<CKFLKLK@C@J8K<LI G<LKG8IK@:@G<I:FDD<@CCk<EK<E;HL8E;@CM<LKJLIC<JLA<K;<JFE:?F@O %8E8KLI8C@KV;<Ck<OGI<JJ@FEJ<I8@K8CFIJC<=8@K;<;<LOVC89FI8K@FEJSC8 =F@J :<CC< ;< 9<JF@EJ ;k<OGI<JJ@FE 8D<EVJ G8I C8 :FEJFDD8K@FE <K :<CC< ;kLE<VM@;<E:<;<JGI@J<J;<G8IFC<G<ID@J<JG8IC<;@JGFJ@K@=HL@C<JI<UF@K <KC<J<E:8;I< ,L@M8EK :<KK< ;FL9C< 8E8CPJ< D<EV< 8LJJ@ G8I RK@<EE< 8E;<C 4 5 8L JLA<K ;< C8 :I@K@HL< C@KKVI8@I< 8D8KI@:< JLI C<J J@K<J G8IK@:@G8K@=J EFLJ HL<JK@FEE<IFEK Ck@;V< J<CFE C8HL<CC< Ck8LKFI@J8K@FE ;< C8 GI8K@HL< ;< ;@MLC>8K@FE ELDVI@HL< ;F@K XKI< D@J< ;k89FI; <E VKIF@K< I<C8K@FE 8M<: LE< E8KLI8C@J8K@FE ;<J JGF@C<IJ :FDD< =FID< ;kLE ;VJ@I ;< G8IK8>< I<=C<K J<D9C<K@C ;kLE 8KK8:?<D<EK S C8 JVI@<
(70) LJJ@ S :<KK< 8LKFI@J8K@FE -N@KK<IAFL<I8@KLE;FL9C<I\C<SC8=F@J;<DV;@LDG<EJV:FDD<J@DLC8:I< ;<C8;@J:LJJ@FEFI8C<<K:8;I<V;@KFI@8CG<ID@JJ@=;<C<LID@J<<EIVJ<8L .
(71) .
(72) . . L I<JK< Ck@EJ:I@GK@FE ELDVI@HL< ;<J JGF@C<IJ KIFLM<I8@K V>8C<D<EK LE< JFLI:<;<E8KLI8C@J8K@FE<E:<HL<C8JKIL:KLI<V;@KFI@8C<;<-N@KK<I;V=@E@< JFE JK8KLK ;k@EK<IDV;@8@I< ;k<JG8:< ;< I<E:FEKI<J <EKI< ;<J JG<:K8K<LIJ V>8LOHL@M<LC<EKJk<OGI@D<I . ? ! '9:7'1/8'9/43*F:3*A8/7*+5'79'-+ '9:7'1/9A*+1F')9+*+*/;:1-'9/43 ,@ ;8EJ LE GI<D@<I K<DGJ EFLJ EFLJ <E K<EFEJ S :FEJ@;VI<I C<J JGF@C<IJ :FDD< LE< bJ@DGC<c =FID< ;@J:LIJ@M< ;< G8IK8>< JLI C<J JVI@<J :<J@EJ:I@GK@FEJJFEKSEFKI<8M@JC8KI8:<I<E;8EKM@J@9C<LE@EKVIXK;<GCLJ <E GCLJ @DGFIK8EK GFLI C<J JVI@<J LE< 6'99/54 ;< GCLJ <E GCLJ >I8E;< ;<J GL9C@:J GFLI :<J =FID<J J:VE8I@JK@HL<J G8IK@:LC@WI<J <KK< CF>@HL< G8JJ@FEE<CC< Ek<JK <E <==<K G8J J@ @E@EKVI<JJ8EK< J@ ;VELV< ;< J<EJ L GI<D@<I89FI;:<KK<G8JJ@FEG8IK@:LC@WI<GFLIC8JVI@<'3+5,!.854+9G<LK Jk<EM@J8><I:FDD<LE6':.59G8IK8>VG8IJ<JJG<:K8K<LIJ@;<EK@=@VJ8CFIJ<E ,'49;<C8JVI@< "CJk<EKI<K@<EK<E<==<KLE<I<C8K@FEVKIF@K<<EKI<C8G8JJ@FE <KC<JK8KLK;<=8E:FDD<<EKVDF@>E<Ck@EK@KLCV;<C8IV=C<O@FED<EV<G8I ?I@JK@8E %< 8IK <E :FCC89FI8K@FE 8M<: #<8E ?8IC<J D9IF@J< +9 ,'49 *+9 +':2+9 5)/525-/+ *;4+ 6'99/54 < DXD< HL< C8 :FDDLE8LKV ;< =8EJ ;<J <8KC<J 8 GL E8ZKI< ;< Ck8KK8:?<D<EK G8IK8>V 8L :VCW9I< >IFLG< ;< DLJ@HL<C8G8JJ@FEGFLI'3+5,!.854+9:FEJK@KL<8LJJ@C898J<:FDDLE< ;kLEJ<EK@D<EK;k8GG8IK<E8E:<@E;@M@;L<CSLE:FCC<:K@=;<=8EJHL@8@D<EK C8DXD<JVI@< K CVD<EK FD9<J;k8AFLK<IbFLKI<C<=8@K;<GI<E;I<8L JVI@<LO CkF9A<K ;L >F^K 4d5 :<KK< G<IJG<:K@M< GIV:FE@J< ;< JFIK@I ;< C8 . . '$* "
(73) Y$AF7 5D;F;CG7 "7 3DF ?4DA;E7 + &+ + ,$ + ' "'$' " -& (++"'&Z /7@ >;9@70 '$","/ HA> @W BB *'" :FFBIIIB7DE778D6A5BA>;J1
(74) 1
(75) 1@G?1 1 1 .
(76) . . . ;@8C<:K@HL<JLA<K F9A<KgC<JGL9C@:J;kLE:\KVC<JfLMI<J;<Ck8LKI<gGFLI 8E8CPJ<ICk<EJ<D9C<;<JDV;@8K@FEJ<EA<L;8EJC8G<I=FID8E:<c
(77) k8LKI<G8IKJ<CFEC8G@JK<JG@EFQ@<EE<C8G8JJ@FE<JKV>8C<D<EKLE8==<:K JL9@
(78) :8LJV G8I LE F9A<K <OKVI@<LI HL@ JFCC@:@K< LE< '):/54 k<JK C8 65/D9/9 ;kI@JKFK<
(79) HL< CkFE J@>E@=@< @:@ :<KK< G8JJ@FE :FDD< DFK<LI ;kLE< GIF;L:K@FE;<HL<CHL<:?FJ<;k8LKI< ,8EJ9I8E;@ICk@;V<;kLE<;VG<E;8E:< :<KK< :FDGCVD<EK8I@KV <EKI< G8JJ@FE <K 8:K@FE ;V=@E@< LE< @E:C@E8K@FE LE VK8K ;< =8@K ;< HL<CHL< :?FJ< 8>@JJ8EK JLI LE< 8LKI< :?FJ< k<JK <E :<J K<ID<J HL< EFLJ GFLMFEJ <EM@J8><I C8 G<EJV< ;k!<EIP #<EB@EJ HL< EFLJ :@K@FEJ <E @EKIF;L:K@FE bC<J =8EJ I<JJ<EK<EK C< 9<JF@E ;< G8IC<I ;<J GIF>I8DD<JHL@CJI<>8I;<EK8M<:;8LKI<J=8EJc LJJ@C<JJGF@C<IJJFEK @CJSEFKI<8M@JC<J@>E<DXD<;kLE<G8JJ@FEGFLIC8JVI@<HL@IVLE@K<KHL@ 8DWE<8LJJ@LE;VJ@I;k<OGI<JJ@FEHL@CL@JL::W;< "CJJVD@FK@J<EK8@EJ@LE 8KK8:?<D<EK JVI@<C <JJ<E:< ;kLE< :FEJFDD8K@FE HL@ :FE;L@K S LE ;VJ@I ;k<EG8IC<I8M<:;k8LKI<J @I< :<C8 I<M@<EK V>8C<D<EK S Jk<EK<E;I< JLI C< =8@K HL< :<J @EJ:I@GK@FEJ ELDVI@HL<J V;@=@<EK ;< C8 JFIK< LE< :<IK8@E< E8KLI< :FE8K@M< ;<J F9A<KJ HLk@CJJGF@C<EKC<JJVI@<J=FEK8>@IGCLJG8IK@:LC@WI<D<EK<CC<J,54:6'82+8
(80) G8I:<HLk<CC<JJ8K@J=FEK;k89FI;LE<G8JJ@FE ,L@M8EKC8IV=C<O@FED<EV<G8I RK@<EE< 8E;<C C<J =8EJ JFEK 8D<EVJ 8L G8IK8>< G8I C<LI GI8K@HL< ;< M@J@FEE8>< ;<J JVI@<J :<J F9A<KJ :LCKLI<CJ VK8EK S C8 JFLI:< ;kLE )54':;9 */9);89/, DFK<LI ;< :<J ;@J:FLIJ 456 )/: 5 'FLJ VEFEUFEJ @:@ HL< C<J . . %#(
(81) (*,")- + +2*" + ,2$2."+2 + -& +' "'$' " $5 ,".",2 +( ,,'*" $$ 5A@A?;7E7F8;@3@57E5A>7$3F;A@3>7(GBQD;7GD767E#;@7E67&3D;EB
(82) . 57 BDABAE HA;D B>GE BDQ5;EQ?7@F >7 6QH7>ABB7?7@F 6_F;7@@7 3@67> 63@E 4 -,'*"+ * -& (*,")- $2 ","% * -& 2 *",-* '%('+ * -& -$,-* $ + '& ","'&+ ('++""$",2 5-& *",")- $",,2*"* (*," "(,". +-* &, *& , ,- 2 ",'*"$ +"/ +", + %, -*+):RE7676A5FAD3F7@(5;7@57E67>_;@8AD?3F;A@7F67>35A??G@;53F;A@"( *@;H7DE;FQ&3D;E +BB . ' ()%)
(83)
(84) 3H '2,")- FD36 6_%67FF7 7>>7H7@G7 7F(QH7D;@7 G88D7F6#;>>77FG@7@G;FEB $! $( /,-$ ' ! *+ $ ."+"'& &+ & *," "(,'*0 -$,-* $7I -AD='AGF>7697B . 7?S?7CG7>7E>;HD7E8A@FB3D>7D@_7@AG4>;A@EB3ECG7E;>7EEQD;7EA@F57FF7?S?7 53B35;FQ5_7EFB3D57CG_3H3@FFAGF>7EBG4>;5EEA@FBDQ6;EBAEQENBD7@6D7>3B3DA>77F6A@5 N>7ED757HA;D5A??7EG;F.
(85) . . . JVI@<JGFIK<EK<E<CC<JHL<CHL<:?FJ<HL@DFK@M<LE;VJ@I;k<OGI<JJ@FELE< :<IK8@E<=FI:<DF;8C<8>@JJ8EK<HL@<E>8><LE;VJ@I;<G8IK8>< <DXD< HLk<E C@KKVI8KLI< @C P 8 CS bLE< :8G8:@KV G8IK@:LC@WI< ;< CkF9A<K S DFLMF@I JFE 4JG<:K8K<LI5 S C< KI8EJ=FID<I S Ck8>@Ic C<J JVI@<J <E>8><EK LE< VDFK@FEHL@GIFMFHL<LE<8:K@FE LE<5;25/8*/8+ . #!" " !
(86) E)L9C@:8K@FEJ@JJL<J;<EFKI<:FIGLJ8EE<O<
(87) . . . $AGE@7H;EA@EB3E;5;N5A@FD;4G7D3GJ3@3>KE7E7?B;D;CG7E6;E5GF3@F67>3FD36;F;A@@7>>7 6;5:AFA?;77@FD7G@735F;A@>;4QD3FD;577FG@3EE7DH;EE7?7@FB3EE;A@@7>?3;E?A67EF7?7@F NBAE7D>7EF7D?7E6_G@7EG557EE;A@7@FD7Q?AF;A@7F35F;A@67B3DF397
(88) 7 ?7 DQ3BBDABD;7 ;5; >7E F7D?7E B:3D7E 67 >3 B7@EQ7 6_F;7@@7 3@67> /'( ",0 BAGD 7JB>;5;F7DFAGF3GEE;5>3;D7?7@F>75:7?;@7?7@F67?3B7@EQ7.
(89) . . . %<J ;@J:FLIJ 8@EJ@ <E>8>VJ JLI -N@KK<I S GIFGFJ ;< C8 JVI@< '3+ 5, !.854+9JFEKGCLJHL<;<JKVDF@EJ;<Ck<O@JK<E:<;<JG<:K8K<LIJG8JJ@FEEVJ G8I:< HLk8KK8:?VJ S Ck@EKI@>L< @CJ JFEK V>8C<D<EK C<J KVDF@EJ ;kLE< :FDGFJ@K@FEJ:VE8I@JK@HL<KI8M8@CCV<;<D8E@WI<S=8@I<8>@I b%kfLMI<<JK :FEUL<4 5:FDD<LEF9A<KHL@9;9)/:+)533+6'84':;8+;<J;@J:FLIJc LJJ@G8I<OK<EJ@FEC<G8IK8><@E;L@KG8ICk8:K<;<JGF@C<I<JKV>8C<D<EKC< =IL@K ;< :< C@<E HL@ LE@< C8 G8JJ@FE <K C8 GI8K@HL< ;< M@J@FEE8>< E @CCLJKI8K@FE EFKFEJ HLk8L:LE ;<J G<IJFEE8><J ;< C8 E8II8K@FE ;< C8 JVI@< 8DVI@:8@E<E<J<D9C<GFLMF@IXKI<VG8I>EVG8ILE;V:WJJFL;8@E <G8IK@ GI@J J:VE8I@JK@HL< :FDD< ;k8LKI<J <E:FI< <E><E;I<EK ;<J I<JJ<EK@J ;<J VDFK@FEJHL@G8JJ@FEE<EK<K=FEKG8IC<I:FDD<C<;VDFEKI<EKEFK8DD<EK C<JGL9C@:8K@FEJGIVJ<EKV<JGIV:V;<DD<EK . %k8:K< ;< ;@MLC>8K@FE 8@EJ@ E8KLI8C@JV E< J8LI8@K J< ;@JJF:@<I ;< :< HL< +FC8E; 8IK?<J ;V=@E@K :FDD< LE< DPK?FCF>@< < DXD< HLk K@<EE< 8E;<C Ck<OGC@HL< GFLI C<J :I@K@HL<J C<J JGF@C<IJ J< ;FEE<EK S G<EJ<I <K S MF@I<EG8IK:FDGCVD<EK8@I<E8KLI<CC<;<Ck8:K<;<M@J@FEE8><;kLE<JVI@< <EJL@K<E8KLI<CC<;kLE;VJ@I;<G8IK8><4FG :@K 5 LJJ@J<GFJ<EK@CJ <EDPK?<;kLEI8GGFIK<EKI<C8GI8K@HL<;<M@J@FEE8><<K:<CC<;<G8IK8>< ;FEK @CJ JFEK LE< =FID< C< J<:FE; JL::V;8EK 8L GI<D@<I EFLJ Ck8MFEJ ML G8I LE C@<E ;< :8LJ< S <==<K %<J JGF@C<IJ J8EJ ;V98KKI< ;< C<LI <JJ<E:< GFK<EK@<CC<D<EK D8C@>E< J< CV>@K@D<EK ;FE: :FDD< LE< J@DGC< JL@K< E8KLI<CC<SC8:FEJFDD8K@FE;kLE<JVI@< "CJJFEK8@EJ@C8G8IK@<@EKV>I8EK< ;kLE< JKIL:KLI< JF:@8C< @JJL< ;kLE =FE:K@FEE<D<EK G8JJ@FEE<C KI8EJD@J G8I Ck@EJ:I@GK@FE +<D8IHLFEJ 8CFIJ HL< :<IK8@EJ 8LK<LIJ MFEK DXD< ALJHLkS :C8JJ<I C8 >I8M@KV ;L JGF@C<I <E =FE:K@FE ;L :FEK<ELJ g <E KVDF@>E< C<J KN<<KJ :@8GIWJ <KK< G8JJ@FE <JK 8@EJ@ Ck<JJ<E:< ;< ;@J:FLIJ HL< C<J C@<LO ELDVI@HL<J :FDD< -N@KK<I 8::L<@CC<EK <K ;FEK @CJ J<D9C<EK IV8==@ID<I C8 GFIKV< . $"AB5;FB Y)AGFEKEFR?7EQ?;A>A9;CG77EFG@EKEFR?767H3>7GDEAD>75A@EA??3F7GD6G?KF:7. . BD7@6>3E;9@;8;53F;A@BAGDG@EKEFR?76783;FE>7?KF:77EF>G5A??7G@EKEFR?7835FG7> 3>ADECG_;>@_7EFCG_G@EKEFR?7EQ?;A>A9;CG7Z/'3DF:7E 0. .
(90) . . . . #!" " ! E)L9C@:8K@FEJ@JJL<J;<EFKI<:FIGLJ8EE<O<
(91) . . ? ! . #3+':-2+39'9/43*:*/8)4:7847'1 5488/(/1/9A*F/38)7/59/432'9A7/+11+*:5'79'-+ k<JK S CkFI@>@E< ;< :< MFLCF@I;@I< E8KLI8C@JV HL< J< G<EJ< C< ;V;FL9C<D<EK ;< C8 JKIL:KLI< JF:@8C< S KI8M<IJ LE <5;25/8C)8/8+ F==I8EK S CkFI8C@KV;<JV:?8E><JJLIC<JJVI@<J<KEFK8DD<EK8LOJGF@C<IJLEGFJJ@9C< 8::FDGC@JJ<D<EK J:I@GKLI8C JLI C<J IVJ<8LO ELDVI@HL<J <K ' ,58:/58/ JLI -N@KK<I %<J GL9C@:J FEK 8@EJ@ <E C<LI GFJJ<JJ@FE ;k8LKI<J DFP<EJ :FDGCVD<EK8@I<J;<;@J:LK<I;<G8IK8><IC<LIJVDFK@FEJC<LIG8JJ@FE <J ;@J:FLIJKI8;@K@FEE<CC<D<EKFI8LO;8M8EK8><JGFEK8EVJKIFLM<EK8CFIJC<LI GC8:< 8L J<@E ;k<JG8:<J ;k@EJ:I@GK@FEJ FLM<IKJ HL@ C<J 8::L<@CC<EK < :< MFLCF@IV:I@I<:<LO:@@EJK8LI<EKC8GFJJ@9@C@KV;kLE<D8KVI@8C@KV;<:<;VJ@I K :k<JK ;k8@CC<LIJ KFLK C< J<EJ ;FEEV S Ck@EJ:I@GK@FE G8I -N@KK<I ;8EJ C8 GIFGI<;V=@E@K@FE;<J8=FE:K@FEbI<AF@>E<QKFLK<Ck8:K@FE<EG8IK8><8EK:< HLk@CJ<G8JJ<;8EJMFKI<DFE;< 4d5"CEkP8G8J;<D<@CC<LIDFP<EGFLI =8@I<<EK<E;I<MFKI<MF@Oc <KK< DF;LC8K@FE ;< C8 G8IFC< S CkV:I@K JLI C<J IVJ<8LO Jk@CCLJKI< G8IK@:LC@WI<D<EK;8EJC8EFK@FEDXD<;<G8IK@:@G8K@FEHL@b=8@KIV=VI<E:< . JFD3;F67>36Q8;@;F;A@67)I;FF7D63@E>_BB>7(FAD7.
(92) . . . EFLJ ;@K K@<EE< 8E;<C S 4:<KK<5 EFK@FE ;< ;@J:LJJ@FE <K ;kV:?8E>< ;< :8;I< :FDDLE@:8K@FEE<C ;8EJ C<HL<C CkVEFE:@8K@FE <JK G8IK8>V< <K ;8EJ C<HL<C C< 9LK ;< C8 :FDDLE@:8K@FE <JK C8 KI8EJD@JJ@FE <K C< G8IK8>< ;kLE< G<EJV<G<IJFEE<CC<c %k<EA<L;<DV;@8JJF:@8LOK<CJHL<-N@KK<IIVJ@;< 9@<ECS;kLE<G8IK;8EJC8JVD@FK@J8K@FE;<CkV:?8E><C8D@J<<EGC8:<;kLE J@DLC8:I< ;< C8 G8IFC< HL@ KI8;L@K C< G8IK8>< C8 D@J< <E :FDDLE ;< Ck<OGVI@<E:< <K ;k8LKI< G8IK ;8EJ LE 8GG<C S C8 G8IK@:@G8K@FE HL@ =FE;< EFK8DD<EK C<LI <O@JK<E:< :< HL< EFLJ VKL;@<IFEJ GCLJ K8I; "C EFLJ J<D9C<8CFIJ@EKVI<JJ8EK;<D<EK@FEE<IC<b*LF@;<E<L=c@EJ:I@K:FDD< GIVD<JJ8>< ;kLE< GL9C@:8K@FE S M<E@I FL <E:FI< <E >IFJ K@KI< ;< C8 G8>< ;k8::L<@C ;L J@K< ;< D@:IF9CF>>@E> < C8 JFIK< -N@KK<I @EK<IG<CC< <K <E>8><C8;@J:LJJ@FE8M<:CkLK@C@J8K<LI;LDF@EJ@EMFHL<JFEJ@DLC8:I< . #!" " !E 8GKLI<;<C8G8><;k8::L<@C-N@KK<I:FEJLCKVC<
(93) . . . 8GKLI<;<C8=<EXKI<;k@EJ:I@GK@FE;<-N@KK<I:FEJLCKVC<
(94) . . . $"AB5;FB . .
(95) . . . < CS C8 GFIKV< K<:?EFJVD@FK@HL< ;< -N@KK<I 8LKI<D<EK ;@K C<J DVK8;@J:FLIJ VK89C@J G8I C< DV;@8 :FDD< ;@JGFJ@K@= 8EK@:@G8K@= ;< C8 G8IK@:@G8K@FE <E>8>< LE< GFJJ@9@C@KV LE 65;<5/8,'/8+ < :< ;VJ@I ;k<OGI<JJ@FE<EM<IKL;<C8=FI:<:FE8K@M<;<JfLMI<J8L;@FM@JL<CC<J;<:< MFLCF@IV:I@I< C< DV;@8 GIFGFJ< =@E8C<D<EK LE 65;<5/8C)8/8+ K :k<JK <E :<J DFKJ HL< J< =FE;<EK GIV:@JVD<EK Ck@D8>@E8@I< ;< C8 G8IK@:@G8K@FE ;< :<KK<I<C8K@FE:FEK@>LY<EKI<<5;25/8<K65;<5/8;<:<KK<KI8EJ=FID8K@FE;kLE ;VJ@I8E:IV<E;VJ@I8E:I89C<;8EJLE<JG8:<;k@EJ:I@GK@FEJ LJJ@ -N@KK<I J8EJ GFLI 8LK8EK Jk@EJKIL@I< <E IV:<GK8:C< LE@HL< ;<J JGF@C<IJ :FDGFJ< LE JPJKWD< ;k8:K@FEJ HL@ G8IK@:@G< ;< :< KPG< ;< =FID8K@FEJ;@J:LIJ@M<J "CJk8>@KCS;<bGI<E;I<C8D<JLI<;<C8GIV>E8E:< 4;L DV;@85 ;8EJ C< :8;I8>< ;<J @EK<I8:K@FEJ <K ;<J :FDD<EK8@I<J GIF;L@KJc <K 8@EJ@ ;< bJ< ;VGI<E;I< ;< Ck8CK<IE8K@M< <EKI< LE DV;@8 KFLK GL@JJ8EK <K LE IV:<GK<LI KFK8C<D<EK C@9I<c )IXK S XKI< LK@C@JV @C <JK <E <==<K LE FLK@C ;< D8KVI@8C@J8K@FE ;< CkFI8C@KV LE ;@JGFJ@K@= DVK8DV;@8K@HL< EFID8K@=:?8:LEJkP'*'6:'4:
(96) HL<CHL<JF@KJFEGIFA<K;<:FDDLE@:8K@FE :<KK<@;V<EFLJGFLMFEJ8@JVD<EKF:KIFP<ICk<O<DGC<;<J
(97) :8I8:KWI<J . . > E_39;F 67 EG;HD7 >3 6Q?3D5:7 ?7@Q7 B3D F;7@@7 3@67> EGD >_QFG67 67E E;F7E 67 5D;F;CG7E B3DF;5;B3F;8E EG;H3@F @AF3??7@F >7E FD3H3GJ 3@FQD;7GDE 6_??3@G7> (AG5:;7D 7F -H7E 73@@7D7F / 0 GEE; 3@3>KE7DA@E@AGE Y>3 ?3@;RD7 6A@F >7E 5A@57BF;A@E 67 >_3BB3D7;>>397 F75:@;CG7 /67 )I;FF7D0 >7E D7BDQE7@F3F;A@E 67 >_Q5A@A?;7 E5D;BFGD3;D7 >7E ;?39;@3;D7E 67 >3 5A??G@;53F;A@ 7F >3 B7@EQ7 6G EA5;3> 7F 6G BA>;F;CG7 38875F7@F >7E ?Q6;3F;A@E5G>FGD7>>7E7F>7GDEEQ?;AF;E3F;A@EZ/3@67> 3 0 @EGE;>E7<AG7>NBAGD>7E3GF7GDE676;E5AGDEEGD>7EEQD;7EG@BDA57EEGEB3D>7CG7> >7 67HA;D BDABD7?7@F BDA87EE;A@@7> 67 B3D>7D 67E \GHD7E ;EEG 67 >3 5D;F;CG7 5;@Q?3FA9D3B:;CG7 B3D 7J7?B>7 6;EB3D3TF 3G BDA8;F 6G YBAGHA;D6;D7Z EGD )I;FF7D 6A@F >_G@;CG7 67HA;D BDAH;7@F 67 >3 @3FGD7 5A@3F;H7 67 57E \GHD7E 7 ?Q53@;E?7 BDABD7 N >3 6Q8;@;F;A@6_G@6;E5AGDE3?3F7GD3;@;F;3>7?7@FQHACGQB3DF;7@@73@67>Y"767HA;D7EF 57>G;676;D77F5_7EF63@E57FF7B3EE;A@?S?7CG7E_3@@G>7@FE_3@Q3@F;EE7@F>7EF;FD7E67 @A4>7EE77F>7E>Q9;F;?3F;A@EFD36;F;A@@7>>7E67>3B3DA>7"3BD3F;CG767>_3?3F7GDEGBBAE7 7@?3D9767EBD3F;CG7EQF34>;7E5A??7BDA87EE;A@@7>>7EG@76Q?3D5:76;E5GDE;H7CG;6G HAG>A;D>;D7B3D>7?AK7@6_G@67HA;D6;D7AGHD7G@BAGHA;D6;D7Z/3@67> 4
(98) 0
(99) $$&'' ' + Y&3D>7D 67 >3 FQ>QH;E;A@ EGD )I;FF7D G@7 Y DQ57BF;A@ Z A4>;CG7 N B3DF;D 6_G@7 Y 5A@H7DE3F;A@ Z ?Q6;3F;CG7 Z /7@ >;9@70 '%%-&" ,"'& $& +@ B
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
(101) . . . 8LOHL<CJJFEK:FEKI8@EKJCk<EJ<D9C<;<JLK@C@J8K<LIJ;<C8GC8K<=FID< -FLJ JFEK <E <==<K C@D@KVJ ;8EJ C<LI ><JK< ;< J:I@GK@FE G8I C8 C@D@K8K@FE ;< :< EFD9I<;<J@>E<J KC8IW>C<E<G<LKXKI<VM@KV<GL@JHLk<CC<Jk@EM@K<;8EJC8 GI8K@HL< ;kV:I@KLI< <CC<DXD< G8I LE JPJKWD< ;< :FDGK< S I<9FLIJ ;L EFD9I<;<:8I8:KWI<J . #!" " E 8GKLI<;<C8=<EXKI<;k@EJ:I@GK@FE;<-N@KK<I:FEJLCKVC<
(102) . . . 'FLJ8M8EUFEJCSCk@;V<;kLE<8L>D<EK8K@FEK<CC<HLk<CC<G<LKXKI<;V=@E@< ;8EJ :< HL@ <JK EFDDV ;8EJ LE 8LKI< ;FD8@E< C8 bIV8C@KV 8L>D<EKV<c LKI<D<EK;@KEFLJD<KKFEJ<E<O<I>L<C8JLG<IGFJ@K@FE;kLE;@J:FLIJ<K ;< J8 DV;@8K@J8K@FE ;8EJ LE JPJKWD< @E=FID8K@HL< HL@ <JK S C8 =F@J LE <JG8:<=FID8C@JV<K=FID8C@J8K<LI %<J@EK<I8:K@FEJJF:@8C<JJ<D<KK<EK8CFIJ <EGC8:<;8EJLEbLE@M<IJ;@J:LIJ@=JELDVI@HL<J4LELE@M<IJ5;<;@J:FLIJ <EC@>E<GC<@E<D<EK4@EKV>IV5SEFJDF;8C@KVJ;<G8IFC<<K;kV:?8E><HL@ J< KIFLM< 8L>D<EKV<J G8I C8 K<:?EFCF>@< IV8C@KV 8L>D<EKV<c :<CC< ;< -N@KK<I 'FKFEJHL<:<KK<8L>D<EK8K@FEEk<JKV>8C<D<EK<==<:K@M<HL<Jk@CP 8MVI@K89C<D<EK;@8CF>L< 'FLJF9J<IMFEJ8CFIJHL<JFLM<EKC<JKN<<KJJ< :IF@J<EKJ8EJEV:<JJ8@I<D<EKJ<IVGFE;I< LJJ@C<JDF;8C@KVJ;<IV8:K@FEJ :FDD<C<JC@B<J<KC<JI<KN<<KJKVDF@>E<EK<KG8IK@:@G<EK;8M8EK8><;kLE< =FID<;kV:?8E>< <DXD<HLkLE;VJ@I;<G8IK8><KI8EJ=FIDV<E;@J:FLIJ FI8C Ck@EJ:I@GK@FE ELDVI@HL< ;<J GL9C@:J Jk@EJWI< ;8EJ :<K LE@M<IJ ;< D8E@WI< GFE:KL<CC< JGFEK8EV< <K EFE FI;FEEV< G8I C<J GIF;L:K<LIJ ;<J .
(103) . &+* # Y5F;H;FQE >3@939;RD7E 7F F75:@A>A9;7 6;E5GDE;H7 "_7J7?B>7 67 )I;FF7DZ /7@ >;9@70 >A9 67 >_3GF7GD "3 B7@EQ7 6G 6;E5AGDE *'" :FFBB7@E776G6;E5AGDE:KBAF:7E7EAD9
(104)
(105) .
(106) . . . JVI@<J HLk@CJ ;@J:LK<EK < JFEK <LODXD<J HL@ G8I C<J @EK<I8:K@FEJ HLk@CJ <==<:KL<EK C<J I<C8K@FEJ HLk@CJ D<KK<EK <E J:WE< JLI -N@KK<I <E J8::FDDF;8EK;<J<JGFJJ@9@C@KVJ<K;<J<JIW>C<JGIF;L@J<EK;L:FCC<:K@= ;LG8IK8><8LKFLI;kLE<DXD<GI8K@HL<;<M@J@FEE8><;kLE<DXD<JVI@< %<JGFJJ@9@C@KVJ;<GIF;L:K@FEJ;@J:LIJ@M<JS;@JGFJ@K@FEJFEKGCLI@<CC<JJLI -N@KK<IKN<<K<IIVGFE;I<I<KN<<K<IC@M<KN<<K<IFL<E:FI<<EMFP<ILE D<JJ8>< GI@MV %8 GI8K@HL< C8E>8>@WI< JkFI;FEE< 8@EJ@ S KI8M<IJ ;<J J:?VD8JJKVIVFKPGVJ;<C8:FEM<IJ8K@FE LI<JK<@CE<J<D9C<;k8@CC<LIJG8J J@8EF;@EHL<C<EFD;LDV;@8J<I8GGFIK<;@I<:K<D<EKJ<CFEJ8KI8;L:K@FE =I8EU8@J< S CkVD@JJ@FE ;kLE JFE g bKN@KK<Ic <E 8E>C8@J J@>E@=@< G@8@CC<I >8QFL@CC<I R>8C<D<EK;<DXD<HLk8LJ<@E;<;@J:LJJ@FEJ?FIJC@>E<J-N@KK<I<E>8>< LE bJ8MF@IV:I@I<c HL< :< ;<IE@<I <K DXD< C<J @EK<IE8LK<J I<C8@<EK <LO DXD<J JFLJ =FID< ;< DVK8;@J:FLIJ GIF:V;LI8C <E :FDGCVD<EK ;< :<LO @E@K@VJ G8I C< DV;@8 "C ;<D8E;< <==<:K@M<D<EK LE J8MF@I=8@I< J:I@GKLIF ;@J:LIJ@=@JJL<;<J8GIFGI<D8ZKI@J<D8@J8LJJ@;kLE<:FEJKIL:K@FEJF:@8C< <E>8>VG8IC<J@EK<IE8LK<J<LODXD<J 'FLJG8ICFEJEFK8DD<EK;<:<HL< &8I@<EE< )8M<8L 4
(107) 5 EFDD<I8@K ;<J 68':/7;+9 */9);89/<+9 );2:;8+22+9 HL<JFEKC< gEFDDVV>8C<D<EK5225=8/*'?C<-N<C:FD<gGFLI 8::L<@CC@I LE EFLM<8L M<EL g FL <E:FI< C< A<L;@:FE=<JJ@FEJ ,k@DGFJ<EK V>8C<D<EK ;<J J@>E<J ;kLE< EFLM<CC< K<:?EF;@J:LIJ@M@KV F9C@>V< G8I C< DV;@8 'FLJG8ICFEJ;<EFLM<8L;<C8:FEKI8@EK<;<J
(108) :8I8:KWI<J<K;<J 8DVE8><D<EKJ KPGF>I8G?@HL<J HL@ <E ;V:FLC<EK (L <E:FI< C8 ;VC@EV8I@J8K@FE ;< CkVEFE:V G8I Ck8AFLK ;k@D8><J ;< M@;VFJ ;< C@<EJ ?PG<IK<OKL<CC<J ;k@EK<ICF:LK<LIJ M@8 C< FL <E:FI< ;< ?8J?K8>J %k@EM<EK@M@KVVK89C@<JFLJC8:FEKI8@EK<K<:?E@HL<<JK8CFIJKIWJ@DGFIK8EK< C<J GL9C@:J8LK<LIJ Jk8::C@D8K<EK ;kLE A<L JLI C8 =FID< ;<J DFKJ <K ;<J bG<K@KJGCLJcHL@G<LM<EKC<J8::FDG8>E<I <JFEK;<EFLM<CC<JK8:K@HL<J HL@Jk@EJK8CC<EK<K@EJK8LI<EKLE<GI8K@HL<8L>D<EKV<;<CkFI8CLE<EFLM<CC<
(109)
(110). 7E BAF7@F;7>E 67 6Q>;@Q3D;E3F;A@ QF3@F 5>;CG34>7E 6A@5 BAGH3@F 5A@6G;D7 N >_7JFQD;7GD 6_G@ 3GFD7 7EB357 ;@F7D@7 AG 7JF7D@7 N )I;FF7D CG7 57>G; 6Q>;?;FQ B3D >3 BDA6G5F;A@ ;> E_39;F6A@56_G@76AG4>76Q>;@Q3D;E3F;A@EK@F39?3F;CG77F:KB7DF7JFG7>>7CG7@AGEBAGHA@E ;67@F;8;7D5>3;D7?7@FB3D>75:3@97?7@F675AG>7GD6757DF3;@E?AFE3GE7;@67>_;@E5D;BF;A@.
(111) . . . :FDDLE@:8K@FE :FDD< =8@K JF:@8C '99/9:C <K ,'B544C ;8EJ <K G8I C< DV;@8 :FDD<C<;@I8@KEKFE@F 8J@CC@4
(112) 5 ,<CFEDF@-N@KK<I<JK8@EJ@GCLJ HLkLE;FL9CFE;<JJKIL:KLI<JJF:@8C<J@C<JKLE;FL9CFE8L>D<EKV<E:<HL< :<JJPJKWD<J;k8:K@FEJG<ID<KK<EK;8M8EK8><HL<C8bJ@DGC<cGI8K@HL<;< CkFI8CHL@E<G<ID<KG8JG8I<O<DGC<;k8>IVD<EK<IJ8G8IFC<;<IV=VI<E:<J G8IC<9@8@J;kLE<M@;VF<K;kLEC@<E;8EJLEDXD<K<DGJFL<E:FI<;<C8 JLGGI@D<I :<J =8@KJ <OGFJVJ :@;<JJFLJ Ck<EJ<D9C< ;< EFKI< :FIGLJ <E KVDF@>E< 'FLJ @EKVI<JJ8EK ;8M8EK8>< 8LO .'9.:'-9 ;L =8@K EFLJ Ck8MFEJ ML ;< C<LI LK@C@KVDVK?F;FCF>@HL<GFLII<>IFLG<ICk<EJ<D9C<;<EFKI<:FIGLJ@CEFLJ 8GG8I8ZK HL< :<LO:@ JKIL:KLI<EK <K =@>LI<EK V>8C<D<EK LE <JG8:< LE C@<L V;@KFI@8C G8I C8 IVLE@FE ;kLE <EJ<D9C< ;k@E;@M@;LJ JFLJ LE DXD< ;VEFD@E8K<LIHLk@CJLK@C@J<EK <;<IE@<IVK89C@K8@EJ@LE?FI@QFE:FDDLE LEGF@EK;<I<E:FEKI<SC8D8E@WI<;kLE<GC8:<GL9C@HL<F]KFLJJ<;FEE<EK I<E;<QMFLJ GFLI ;@J:LK<I ;kLE DXD< JLA<K LJJ@ C8 GI8K@HL< ;@J:LIJ@M< Jk8E:I<K<CC<b;8EJLE<GI8K@HL<;LC@<LLE<GI8K@HL<;<Ck<JG8:<HL@=8@K ;L ;@J:FLIJ 4 5 G8IK@:@G8K@= LE ?VI@K@<I ;< CkFI8C 8LK8EK HL< ;< CkV:I@Kc E :< J<EJ EFLJ I<M<EFEJ S LE< =FID< ;k<OGVI@<E:< KI@98C ;< C8 :FDDLE8LKV F] C< C@<L J< =8@K GIVK<OK< ;< C8 JF:@89@C@KV <JG8:< ;< I<E:FEKI<J <EKI< JG<:K8K<LIJ ;8EJ EFKI< :FEK<OK< ;FEE8EK 8CFIJ C@<L S C8 ;@MLC>8K@FE:FDD<CkVEFE:<:C8@I<D<EKC8GL9C@:8K@FE:@;<JJFLJ . #!" " E)L9C@:8K@FE@JJL<;<EFKI<:FIGLJ8EE<O<
(113) . . . . -N@KK<I K?VTKI8C@J< 8@EJ@ C8 I<E:FEKI< C< C@<E JF:@8C G8I C< G8C89I< k<JK ;k8@CC<LIJG8ICSEFK8DD<EKHL<J<=FE;<J<CFEDF@CkLK@C@J8K@FEIV:LII<EK<.
(114) . $"'( ",B .
(115) . .
(116) . ;LK<ID<;<b:FDDLE8LKVcJLI-N@KK<I<KDXD<;<KN@KKFJG?WI<<E :< HL< C< DV;@8 :FDD< C@<L ;k@EJ:I@GK@FEJ FI>8E@J< ;< DXD< LE E:8+ +49+3(2+ )CLJGIV:@JVD<EK:<KXKI<<EJ<D9C<;FEKC<JJ<E:<<JKC8G8JJ@FE G8IK8>V<J<D8E@=<JK<8LJ<@E;kLE<JG8:<SC8=F@JJG8K@8CD8@JV>8C<D<EK K<DGFI<C C8 EFK@FE ;k8:KL8C@KV JLI -N@KK<I VK8EK :FEJK@KLK@= ;< JFE FI>8E@J8K@FE ,<CFE DF@ @C Jk<OGC@:@K< JLI C< DV;@8 ;8M8EK8>< Ck@;V< ;< ,8F2+3+4:9 C<J :FDDLE8LKVJ ;< =8EJ JLI -N@KK<I JkVK89C@JJ<EK 8@EJ@ ;8M8EK8>< JL@M8EK ;<J I<E:FEKI<J JL::@E:K<J F] C< K<DGJ GI<E; 8CFIJ LE< GC8:<KFLK8LJJ@GIV>E8EK<HL<:<CC<;LC@<L;<C8I<C8K@FEJLIKFLKHL8E;@C Jk8>@K;<J<=8@I<JGF@C<I . #!" " !E)L9C@:8K@FEJ@JJL<J;<EFKI<:FIGLJ8EE<O<
(117) . . . <KK< bFI8C@KV 8L>D<EKV<c ;FEK EFLJ ;@J:LK@FEJ GCLJ ?8LK <JK 8@EJ@ C< IVJLCK8K ;kLE< GI8K@HL< ;k?P9I@;8K@FE HL@ :FEJ@JK< GFLI C< DV;@8 S JVD@FK@J<I CkFI8C@KV :<KK< G<EJV< ;< CkFI8C G8I LE< J@DLC8K@FE ;< Ck@EJ:I@GK@FEFGVI8EK<<K;<:<CC<;kLE<I<E:FEKI<DXD<JL::@E:K<:FE;L@KS G<EJ<I -N@KK<I <K GCLJ C8I><D<EK "EK<IE<K :FDD< CkFI>8E@J8K<LI ;kLE< I<C8K@FE<EKI<CkFI8C<KCkV:I@K %k8:K<;<;@MLC>8K@FE8AFLK<I8@K:<IK8@E<D<EK K@<EE< 8E;<C ;VGCF@< 8@EJ@ bLE @D8>@E8@I< JF:@8C <K :FDDLE@:8K@FEE<C ;< C8 JGFEK8EV@KV C@V< S LE< b ;@J:LJJ@FE c I<C8PV< G8I LE ;@JGFJ@K@=.
(118) . "7F7D?77EF7@FDQ63@E>3H7DE;A@ 6G6;5F;A@@3;D7 ,",' *,3H75>36Q8;@;F;A@ EG;H3@F7Y5A??G@3GFQ67EB7DEA@@7ECG;BAEF7@F67EFI77FE7F6757>>7ECG;>7E>;E7@FZ
(119) 7FF7 B7@EQ7 @AGE H;7@F 67 >3 F:RE7 67 (FQB:3@7 G9A@ / 0 CG; 7JBD;?7 >_;6Q7 67 5A??G@3GFQ @AF3??7@F B3D >_7JBD7EE;A@ BDQ9@3@F7 67 >3 F7?BAD3>;FQ 67 >3 D7@5A@FD7 EGD >7EDQE73GJ >@7E_39;FEAGH7@F7@7887FCG767B7DEA@@7ECG;E75DA;E7@FAGQ5:3@9767 ?3@;RD74DRH7B3D>_;@F7D?Q6;3;D76_G@735F;A@D3B;675A??7>7D7FI77F .
Documents relatifs
Dans cette posture « clinique », il invite le sujet à explorer différentes situations vécues dans des milieux sociaux qui parfois ne parlent pas le même langage ou
Pour rendre hommage à cette histoire plus subtile, moins loquace et moins tape à l’œil, nous nous sommes arrêtées dans la ville de Roux et nous nous sommes posées
Les prêts à intérêts sont interdits par l’Eglise car ils sont considérés jusqu’au XVème siècle comme une pratique usuraire.. L’Eglise ne reconnaît alors que le prêt
Ce n’est pas le cas pour les habitants de Cambron et des villages avoisinants : au XVIIIème siècle, la dîme rapporte au monastère de Cambron un total net de 35 746 livres tournois..
Il existe encore aussi une variété de bières artisanales, brassées dans le petit village d'Hautrage (au sein de l'entité de Saint-Ghislain) dont le nom rappelle l’existence de
C’est pourquoi nous avons déci- dé de nous pencher sur le VII ème siècle montois, la vie personnelle et religieuse de Waudru, le statut de la femme à cette époque ainsi que sur
C’est pourquoi toutes les initiatives prises pour aménager et adapter les contraintes environnementales, aussi bien au niveau scolaire que pédagogique – et que l’on peut
» La peur du spoiler et l’enthousiasme collectif amène cependant à créer des cercles de diffusion des épisodes dès le soir de leur première diffusion, si bien que l’on
