1、%5,7,6+ 67$1$5%6FRUSRUDWLQJ$PHQGPHQWV1R DQG 1R5XOHVIRUWKH GHVLJQ RIFUDQHV 3DUW 6SHFLILFDWLRQ IRU FODVVLILFDWLRQVWUHVVFDOFXODWLRQVDQG GHVLJQ RIPHFKDQLVPVICS 53.020.20Q,Corrigendum No. 1DQG%6 7KLV%ULWLVK6WDQGDUGKDYLQJEHHQSUHSDUHGXQGHUWKHGLUHFWLRQRIWKH0HFKDQLFDO(QJLQHHULQJ6WDQGDUGV%6,%6 $SSHQGL% $VVHVV
2、PHQWRIWRUTXHORDGLQJ RI FUDQH PHFKDQLVPV%*HQHUDO7RUTXHVDSSOLHGWRWKHFRPSRQHQWVRIFUDQHPHFKDQLVPVDULVHIURPWKHLQWHUDFWLRQRISULPHPRYHUVRUEUDNHVZLWKJUDYLWDWLRQDOORDGVWKHLQHUWLDVRIYDULRXVPDVVHVDQGURWDWLQJSDUWVDQGZLWKFRPELQDWLRQVRIERWK7KHDVVHVVPHQWRIDSSURSULDWHWRUTXHYDOXHVIRULQSXWWRPHFKDQLVPFDOFXODWLRQVUHTXL
3、UHVDFOHDUXQGHUVWDQGLQJERWKRIWKHFKDUDFWHULVWLFVRIWKHSULPHPRYHUDQGRIWKHZDLQZKLFKWKHPHFKDQLVPZLOOEHUHTXLUHGWRSHUIRUPLQVHUYLFH,WLVDQLPSRUWDQWUHVSRQVLELOLWRIWKHGHVLJQHUDQGPDQXIDFWXUHUWRHQVXUHWKDWWRUTXHYDOXHVDUHFRUUHFWODQGDSSURSULDWHOTXDQWLILHGVRWKDWPHFKDQLVPZLOOSHUIRUPDVUHTXLUHGLQWKHVHUYLFHHQYLURQPHQWIRU
4、WKHLQWHQGHGOLIH)DLOXUHRIPHFKDQLVPFRPSRQHQWVUHSUHVHQWVDKDDUGRIYDULQJLPSRUWDQFHDQGFDQOHDGWRFRQVHTXHQWLDOGDPDJHDQGFRVWZKLFKPDEHFRQVLGHUDEOH7KHTXHVWLRQRIUHOLDELOLWLVFULWLFDOLQWKHFDVHRIFUDQHVXVHGLQDSURFHVVRUIRULQWHQVLYHEXONRUXQLWKDQGOLQJ)RUWKLVSXUSRVHWKHPHFKDQLVPGHVLJQKDVWREHFDUULHGRXWZLWKSDUWLFXODUDWWHQ
5、WLRQWRLQWHJULWWDNLQJLQWRDFFRXQWWKHWLPHUHTXLUHGWRHIIHFWUHSDLUVDULVLQJIURPDFFLGHQWDORURWKHUXQIRUHVHHQFLUFXPVWDQFHVRXWVLGHQRUPDOVHUYLFHFRQGLWLRQV,Q%WR %DWWHQWLRQLVGUDZQWRVRPHRIWKHIDFWRUVWKDWKDYHWREHERUQHLQPLQGZKHQDVVHVVLQJWRUTXHVIRUPHFKDQLVPGHVLJQLQJHQHUDOFUDQHDSSOLFDWLRQV0RUHVSHFLILFUHTXLUHPHQWVPDEHOD
6、LGGRZQLQVWDQGDUGVUHODWLQJWRWKHLQGLYLGXDOWSHVRIFUDQHDVLQWKHFDVHRI%6% $OO PHFKDQLVPV,QFDOFXODWLQJWKHWRUTXHDSSOLHGWRDPHFKDQLVPRUFRPSRQHQWGXULQJDQDFFHOHUDWLQJRUGHFHOHUDWLQJPRWLRQLWPDEHQHFHVVDUWRWDNHLQWRDFFRXQWWKHWRUTXHVUHTXLUHGWRDFFHOHUDWHRUGHFHOHUDWHWKHPRYLQJSDUWVRIWKHPHFKDQLVPDQGGULYHXQLWWKHPVHOYHV,QV
7、RPHFDVHVIRUHDPSOHWKHWRUTXHUHTXLUHGWRDFFHOHUDWHRUUHWDUGDPRWRUDUPDWXUHRUURWRUFRPSOHWHZLWKFRXSOLQJEUDNHGUXPDQGSLQLRQDVVHPEOPDEHSURSRUWLRQDWHOKLJKLQUHODWLRQWRWKHWRUTXHVUHTXLUHGWRSHUIRUPWKHPHFKDQLVPIXQFWLRQ%UDNLQJRIWHQSURGXFHVKLJKHUWRUTXHVWKDQFRQGLWLRQVRIDFFHOHUDWLRQ,QHLWKHUFDVHDFFRXQWVKRXOGEHWDNHQRIWKHV
8、WDUWLQJFKDUDFWHULVWLFVRIWKHGULYHXQLWRUWKHUHWDUGLQJSURSHUWLHVRIWKHEUDNHVVWHPDVDSSURSULDWH7KHDVVXPHGUDWHVRIDFFHOHUDWLRQDQGGHFHOHUDWLRQVKRXOGEHFRQVLVWHQWZLWKWKHFUDQHWSHDSSOLFDWLRQDQGGXWDQGVKRXOGDOVREHFRPSDWLEOHZLWKWKHUDWLQJRIWKHGULYHXQLW:LWKFHUWDLQJHDUDUUDQJHPHQWVWKHRYHUKDXOLQJRIWKHSULPHPRYHUEWKHLQHUWL
9、DRIDFUDQHRUWUROOHPDJLYHULVHWRPDLPXPORDGLQJVDQGZLWKVRPHEUDNLQJVVWHPVWKHDFWLRQRIEUDNHVXQGHUHPHUJHQFVWRSRUXSRQVXSSOIDLOXUHPDJLYHULVHWRORDGLQJVWKDWUHTXLUHFRQVLGHUDWLRQLQUHVSHFWRIFRPSRQHQWVWUHQJWK6XFKFDVHVDUHQRWKRZHYHUUHOHYDQWIRUIDWLJXHYHULILFDWLRQV:KHUHFXVKLRQLQJGHYLFHVDUHLQVHUWHGLQWKHGULYHVXFKDVKGUDXOL
10、FFRXSOLQJVRUHOHFWULFDOFRQWUROIHDWXUHVWKDWOLPLWWKHDSSOLHGWRUTXHWKHEHQHILWRIWKHVHGHYLFHVPDEHXVHGLQDVVHVVLQJWKHWRUTXHVWUDQVPLWWHGWRWKHPHFKDQLVP:KHQFRQVLGHULQJKRULRQWDOPRWLRQVLHWUDYHOOLQJWUDYHUVLQJVOHZLQJDQGOHYHOOXIILQJLWPXVWEHUHPHPEHUHGWKDWWKHUHLVJHQHUDOODIXOOUHYHUVDORIWRUTXHIURPPDLPXPLQRQHGLUHFWLRQWRP
11、DLPXPLQWKHRSSRVLWHGLUHFWLRQ)XUWKHUIDFWRUVUHODWLQJWRVSHFLILFPHFKDQLVPVRIDFUDQHDUHGLVFXVVHGLQ%WR %+RLVWLQJ PHFKDQLVPV:KHQIRUFHVDQGWRUTXHVLQKRLVWLQJPHFKDQLVPVDUHFDOFXODWHGSURSHUFRQVLGHUDWLRQVKRXOGEHJLYHQWRWKHGQDPLFEHKDYLRXURIWKHVVWHPKDYLQJUHJDUGWRWKHVWDUWLQJDQGEUDNLQJFKDUDFWHULVWLFVRIWKHGULYHXQLWWRWKHD
12、FFHOHUDWLRQRUGHFHOHUDWLRQRIWKHKRRNORDGDQGWKHPHFKDQLVP ZKLFKPDKRZHYHUEHQHJOLJLEOHLQVRPHFDVHV WRIULFWLRQDOHIIHFWVDQGWRWKHHIIHFWVRIIOHLELOLWLQWKHVVWHPDVDZKROH)RUVRPHSXUSRVHVLWLVDSSURSULDWHWRDOORZIRUGQDPLFHIIHFWVEFRQVLGHULQJDVWHDGFRQGLWLRQPRGLILHGEWKHXVHRIDQLPSDFWIDFWRU7KHVHDSSURDFKHVDUHLPSOLFLWLQWKHORD
13、GLQJFRQGLWLRQVJLYHQLQFODXVH% +RULRQWDO PRWLRQ PHFKDQLVPV:KHQWKHGULYLQJXQLWRIDWUDYHORUWUDYHUVHPHFKDQLVPKDVEHHQVHOHFWHGWRJLYHKLJKDFFHOHUDWLRQVWKHWRUTXHWUDQVPLWWHGEWKHPHFKDQLVPPDEHOLPLWHGEVNLGGLQJRIWKHZKHHOVRQWKHUDLOV6LPLODUHIIHFWVPDRFFXUGXULQJEUDNLQJRUFROOLVLRQ,QPDNLQJDOORZDQFHIRUUXQQHUEHDULQJIULFWLRQ
14、WKHUDWLREHWZHHQWUHDGGLDPHWHUDQGEHDULQJGLDPHWHUKDVWREHWDNHQLQWRDFFRXQWHVSHFLDOOZKHQSODLQEHDULQJVDUHXVHG%6,%6 % HUULFNLQJ DQG VOHZLQJ PHFKDQLVP0DLPXPWRUTXHVLQGHUULFNLQJDQGVOHZLQJPHFKDQLVPVQRUPDOORFFXUGXULQJFRQGLWLRQVRIEUDNLQJXQOHVVDKLJKUDWHRIDFFHOHUDWLRQLVFDOOHGIRU$SSHQGL& HWHUPLQDWLRQ RI IDWLJXHUHIHU
15、HQFHVWUHVV& *HQHUDO&ODXVHVHWVRXWWKHSURFHGXUHIRUFKHFNLQJWKHIDWLJXHVWUHQJWKRIDPHFKDQLFDOFRPSRQHQWDQGRXWOLQHVWKHIDFWRUVZKLFKDIIHFWLWVIDWLJXHOLIH$IDWLJXHUHIHUHQFHVWUHVVLVXVHGLQWKHSURFHVVRIHYDOXDWLQJWKHIDWLJXHVWUHQJWK7KLVDSSHQGLRXWOLQHVDPHWKRGRIGHWHUPLQLQJWKHIDWLJXHUHIHUHQFHVWUHVVIRUDFRPSRQHQWGHWDLO&)DWL
16、JXH UHIHUHQFHVWUHVV3IU3IU &IU8VZKHUH&HWHUPLQDWLRQ RI IDWLJXH UHIHUHQFHVWUHVVIDFWRU &IU)RUVWHHOVKDYLQJDPLQLPXPXOWLPDWHWHQVLOHVWUHVVQRWJUHDWHUWKDQ1PPWKHYDOXHRI&IULVJLYHQLQ)LJXUH D IRUFDVHVRIEHQGLQJVWUHVVDQGLQ)LJXUH E IRUFDVHVRIWRUVLRQDOVKHDUVWUHVV7KHYDOXHRI&IULVGHWHUPLQHGLQDFFRUGDQFHZLWKWKHDSSURSULDWH
17、QXPEHURIVWUHVVFFOHVDQGZLWKWKHDSSURSULDWHYDOXHRIWKHIDWLJXHOLPLWIDFWRU&OLP$OWHUQDWLYHOWKHIDFWRU&IUFDQEHGHWHUPLQHGIURPWKHIROORZLQJIRUPXODHLQZKLFK1 LVWKHWRWDOQXPEHURIFFOHV& )DWLJXH OLPLWIDFWRU&OLP7KHIDWLJXHOLPLWIDFWRU&OLPLVWKHYDOXHRI&IUFRUUHVSRQGLQJWRWKHIDWLJXHHQGXUDQFHOLPLWZKHUH& HWHUPLQDWLRQ RI & & &D
18、QG . IDFWRUV& 6WUHVVIDFWRU &7KHYDOXHRI &LVJLYHQLQDFFRUGDQFHZLWKWKHQDWXUHRIWKHVWUHVVFFOHVDVIROORZV&6LH IDFWRU &7KHVLHIDFWRULVGHULYHGIURP)LJXUH&6XUIDFH ILQLVK IDFWRU &7KHVXUIDFHILQLVKIDFWRULVGHSHQGHQWRQWKHXOWLPDWHWHQVLOHVWUHVVRIWKHPDWHULDODQGWKHPDFKLQLQJSURFHVVXVHGLQPDQXIDFWXUH7KHYDOXHRI&LVJLYHQLQ)LJX
19、UHLQZKLFK 5WLVWKHSHDNWRYDOOHKHLJKWRIVXUIDFHURXJKQHVV LQP & )DWLJXH QRWFK IDFWRU .EI.TI& HULYDWLRQ RI IDWLJXH QRWFK IDFWRU7KHSUHVHQFHRIVXFKGHWDLOVDVVKRXOGHUVJURRYHVKROHVNHZDVWKUHDGVHWFUHVXOWVLQDPRGLILFDWLRQRIWKHVLPSOHVWUHVVGLVWULEXWLRQWKDWZRXOGRFFXULQPHPEHUVZKLFKKDYHDFRQVWDQWFURVVVHFWLRQZLWKJUDGXDOFK
20、DQJHVRIFRQWRXU7KHUHVXOWLQJORFDOLDWLRQRIKLJKVWUHVVHVLVNQRZQDVWKHVWUHVVFRQFHQWUDWLRQRUQRWFKHIIHFWDQGLVPHDVXUHGEWKHVWUHVVFRQFHQWUDWLRQIDFWRU7KHVWUHVVFRQFHQWUDWLRQIDFWRULVGHILQHGDVZKHUHIEPDDQGITPDDUHWKHPDLPXPVWUHVVHVLQDFRPSRQHQWGHWDLODQGIEQRPDQG ITQRPDUHWKHQRPLQDOVWUHVVHVDWWKHFRUUHVSRQGLQJORFDWLRQ8VLVWK
21、HPLQLPXPXOWLPDWHWHQVLOHVWUHVVRIWKHPDWHULDO&IULVDIDWLJXHUHIHUHQFHVWUHVVIDFWRUWKDWGHSHQGVRQD WKHQXPEHUDQGFKDUDFWHULVWLFVRIWKHVWUHVVFFOHVWRZKLFKDFRPSRQHQWLVVXEMHFWHGDQGE WKHYDOXHRIWKHIDWLJXHOLPLWIDFWRU&OLP)RU 1 &IU &OLP)RU 1 ZKHUHIRUEHQGLQJVWUHVVHV$ DQGIRUWRUVLRQDOVKHDUVWUHVVHV&IU$&OLP ORJ1 $ 1 ORJ &OL
22、P&.I &LVDVWUHVVVWDWHIDFWRU&LVDVLHIDFWRU&LVDVXUIDFHILQLVKIDFWRU.ILVDIDWLJXHQRWFKIDFWRUHTXDOWR.EIIRUEHQGLQJVWUHVVHVDQG.TIIRUWRUVLRQDOVKHDUVWUHVVHV8QLGLUHFWLRQDOEHQGLQJ IPLQIPD& 5HYHUVLQJEHQGLQJ IPLQIPD & 8QLGLUHFWLRQDOWRUVLRQ VKHDU IPLQIPD& 5HYHUVLQJWRUVLRQ VKHDU IPLQIPD & .EIEPDIEQRP IRUEHQGLQJVWUHVV .TITPDITQRP