crop-chem-docs/corpus/epa_ppls/5905-598.md

OMNI OIL 6

• EPA Reg No: 5905-598
• Registrant: HELENA AGRI-ENTERPRISES, LLC, D/B/A HELENA CHEMICAL COMP
• Signal word: Caution
• Active ingredients: Mineral oil - includes paraffin oil from 063503 (98%)
• Label accepted: 2022-09-28
• Source PDF: https://www3.epa.gov/pesticides/chem_search/ppls/005905-00598-20220928.pdf

---

UNITED STATES ENVIRONMENTAL PROTECTION AGENCY WASHINGTON, DC 20460

OFFICE OF CHEMICAL SAFETY AND POLLUTION PREVENTION

September 28, 2022

Bill Washburn Registration Manager Helena Agri-Enterprises, LLC 225 Schilling Blvd., Suite 300 Collierville, TN 38017

Subject: Registration Review Label Mitigation for Aliphatic Solvents Product Name: OMNI OIL 6 EPA Registration Number: 5905-598 Application Date: 5/18/2020 Decision Number: 563022

Dear Bill Washburn:

The Agency, in accordance with the Federal Insecticide, Fungicide and Rodenticide Act (FIFRA), as amended, has completed reviewing all the information submitted with your application to support the Registration Review of the above referenced product in connection with the Aliphatic Solvents Interim Decision, and has concluded that your submission is acceptable. The label referred to above, submitted in connection with registration under FIFRA, as amended, is acceptable.

Should you wish to add/retain a reference to the company’s website on your label, then please be aware that the website becomes labeling under the Federal Insecticide Fungicide and Rodenticide Act and is subject to review by the Agency. If the website is false or misleading, the product would be misbranded and unlawful to sell or distribute under FIFRA section 12(a)(1)(E). 40 CFR 156.10(a)(5) list examples of statements EPA may consider false or misleading. In addition, regardless of whether a website is referenced on your product’s label, claims made on the website may not substantially differ from those claims approved through the registration process. Therefore, should the Agency find or if it is brought to our attention that a website contains false or misleading statements or claims substantially differing from the EPA approved registration, the website will be referred to the EPA’s Office of Enforcement and Compliance.

A stamped copy of your labeling is enclosed for your records. This labeling supersedes all previously accepted labeling. You must submit one copy of the final printed labeling before you release the product for shipment with the new labeling. In accordance with 40 CFR 152.130(c), you may distribute or sell this product under the previously approved labeling for 12 months from the date of this letter. After 12 months, you may only distribute or sell this product if it bears this new revised labeling or subsequently approved labeling. “To distribute or sell” is defined under FIFRA section 2(gg) and its implementing regulation at 40 CFR 152.3.

Page 2 of 2 EPA Reg. No. 5905-598 Decision No. 563022

If you have any questions about this letter, please contact Quinn Gavin by phone at 202-566- 2284, or via email at gavin.quinn@epa.gov.

Sincerely,

Linda Arrington, Branch Chief Risk Management and Implementation Branch 4 Pesticide Re-Evaluation Division Office of Pesticide Programs

Enclosure: Stamped label

)LOHQDPH2PQL2LO&/1GRF  201,2,/ ,16(&7,&,'(0,7,&,'(/,48,' $1$552:5$1*(683(5,25635$<2,/ $ & 7 , 9 (  , 1 * 5 ( ' , ( 1 7   0 L Q H U D O  2 L O « « « « « « « 2 7 + ( 5  , 1 * 5 ( ' , ( 1 7 6 ««  7 2 7 $ / ««««« 6 X S H U L R U  3 H W U R O H X P  2 L O  0 L Q L P X P  8 Q V X O IRQDWHG5HVLGXH  & R Q W D L Q V  S H W U R O H X P  G L V W L O O D W H V    127(7+,6352'8&7,6127,17(1'(')255((1+286(86( .((32872)5($&+2)&+,/'5(1 &$87,21 6HHLQVLGH3DQHOIRU$GGLWLRQDO3UHFDXWLRQDU\6WDWHPHQWV ),567$,' ,)216.,1 25 &/27+,1 x 7DNHRIIFRQWDPLQDWHGFORWKLQJ x 5LQVHVNLQLPPHGLDWHO\ZLWKSOHQW\RIZDWHUIRUPLQXWHV x &DOODSRLVRQFRQWUROFHQWHURUGRFWRUIRUWUHDWPHQWDGYLFH ,) 6:$//2:(' x &DOODSRLVRQFRQWUROFHQWHURUGRFWRULPPHGLDWHO\IRUWUHDWPHQWDGYLFH x 'RQRWLQGXFHYRPLWLQJXQOHVVWROGWRGRVRE\WKHSRLVRQFRQWUROFHQWHURUGRFWRU x 'RQRWJLYHDQ\OLTXLGWRDSHUVRQ x 'RQRWJLYHDQ\WKLQJE\PRXWKWRDQXQFRQVFLRXVRUFRQYXOVLQJSHUVRQ ,),1+$/('x 0RYHSHUVRQWRIUHVKDLU x ,ISHUVRQLVQRWEUHDWKLQJFDOORUDQDPEXODQFHWKHQJLYHDUWLILFLDOUHVSLUDWLRQSUHIHUDEO\ E\PRXWKWRPRXWKLISRVVLEOH x &DOODSRLVRQFRQWUROFHQWHURUGRFWRUIRUIXUWKHUWUHDWPHQWDGYLFH ,),1(<(6x +ROGH\HRSHQDQGULQVHVORZO\DQGJHQWO\ZLWKZDWHU IRUPLQXWHV x 5HPRYHFRQWDFWOHQVHVLISUHVHQWDIWHUWKHILUVWPLQXWHVWKHQFRQWLQXHULQVLQJH\H x &DOODSRLVRQFRQWUROFHQWHURUGRFWRUIRUWUHDWPHQWDGYLFH +DYHWKHSURGXFWFRQWDLQHUZLWK\RXZKHQFDOOLQJDSRLVRQFRQWUROFHQWHURUGRFWRURUZKHQJRLQJIRUWUHDWPHQW<RXDOVR PD\FDOO&KHPWUHFDW IRUHPHUJHQF\PHGLFDOWUHDWPHQWLQIRUPDWLRQ 127(723+<6,&,$17KLVSURGXFWFRQWDLQVSHWUROHXPGLVWLOODWHVDQGPD\SRVHDQDVSLUDWLRQSQHXPRQLDKD]DUG'R QRWLQGXFHYRPLWLQJ ( 3  5 H J   1 R               '         ( 3 $  ( 6 7   1 2    1 ( 7  & 2 1 7 ( 1 7 6       0$18)$&785(')25

• ( / ( 1  * 5 ,  ( 1 7 ( 5 3 5 , 6 ( 6   / / &   6&+,//,1*%28/(9$5'68,7( &2//,(59,//(7(11(66(( Sep 28, 2022 5905-598

 )LOHQDPH2PQL2LO&/1GRF    35(&$87,21$5<67$7(0(176 +$=$5'672+80$16 '20(67,&$1,0$/6 &$87,21 $YRLGFRQWDFWZLWKVNLQRUFORWKLQJ:DVKWKRURXJKO\ZLWKVRDSDQGZDWHUDIWHUKDQGOLQJDQGEHIRUHHDWLQJGULQNLQJ FKHZLQJJXPXVLQJWREDFFRRUXVLQJWKHWRLOHW:HDUORQJVOHHYHGVKLUWDQGORQJSDQWVVRFNVVKRHVDQGFKHPLFDO UHVLVWDQWJORYHV3URORQJHGRUIUHTXHQWO\UHSHDWHGVNLQFRQWDFWPD\FDXVHDOOHUJLFUHDFWLRQVLQVRPHLQGLYLGXDOV  3(5621$/3527(&7,9((48,30(1733(  +DQGOHUVPXVWZHDU x ORQJVOHHYHVKLUWORQJSDQWVDQG x VKRHVSOXVVRFNV  6HH(1*,1((5,1&21752/6IRUDGGLWLRQDOUHTXLUHPHQWV  )ROORZPDQXIDFWXUHU VLQVWUXFWLRQVIRUFOHDQLQJPDLQWDLQLQJ33(,IQRVXFKLQVWUXFWLRQVIRUZDVKDEOHVH[LVWXVH GHWHUJHQWDQGKRWZDWHU.HHSDQGZDVK33(VHSDUDWHO\IURPRWKHUODXQGU\  'LVFDUGFORWKLQJDQGRWKHUDEVRUEHQWPDWHULDOWKDWKDYHEHHQGUHQFKHGRUKHDYLO\FRQWDPLQDWHGZLWKWKHSURGXFW¶V FRQFHQWUDWH'RQRWUHXVHWKHP  :KHQKDQGOHUVXVHFORVHGV\VWHPVHQFORVHGFDEVRUDLUFUDIWLQDPDQQHUWKDWPHHWVWKHUHTXLUHPHQWVOLVWHGLQWKH :RUNHU3URWHFWLRQ6WDQGDUG:36IRUDJULFXOWXUDOSHVWLFLGHV>&)5G@WKHKDQGOHU33(UHTXLUHPHQWV PD\EHUHGXFHGRUPRGLILHGDVVSHFLILHGLQWKH:36  86(56$)(7<5(&200(1'$7,216 x 8VHUVVKRXOGZDVKKDQGVEHIRUHHDWLQJGULQNLQJFKHZLQJJXPXVLQJWREDFFRRUXVLQJWKHWRLOHW x 8VHUVVKRXOGUHPRYHFORWKLQJ33(LPPHGLDWHO\LISHVWLFLGHJHWVLQVLGH7KHQZDVKWKRURXJKO\DQGSXWRQFOHDQ FORWKLQJ x 8VHUVVKRXOGUHPRYH33(LPPHGLDWHO\DIWHUKDQGOLQJWKLVSURGXFW:DVKWKHRXWVLGHRIJORYHVEHIRUHUHPRYLQJ $VVRRQDVSRVVLEOHZDVKWKRURXJKO\DQGFKDQJHLQWRFOHDQFORWKLQJ  (1,1((5,1&21752/6 3LORWVPXVWXVHDQHQFORVHGFRFNSLWWKDWPHHWVWKHUHTXLUHPHQWVOLVWHGLQWKH:36IRUDJULFXOWXUDOSHVWLFLGHV>&)5 G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

 )LOHQDPH2PQL2LO&/1GRF    $5,&8/785$/86(5(48,5(0(176 8VHWKLVSURGXFWRQO\LQDFFRUGDQFHZLWKLWVODEHOLQJDQGZLWKWKH:RUNHU3URWHFWLRQ6WDQGDUG&)5SDUW7KLV 6WDQGDUGFRQWDLQVUHTXLUHPHQWVIRUWKHSURWHFWLRQRIDJULFXOWXUDOZRUNHUVRQIDUPVIRUHVWVQXUVHULHVDQGJUHHQKRXVHV DQGKDQGOHUVRIDJULFXOWXUDOSHVWLFLGHV,WFRQWDLQVUHTXLUHPHQWVIRUWUDLQLQJGHFRQWDPLQDWLRQQRWLILFDWLRQDQGHPHUJHQF\ DVVLVWDQFH,WDOVRFRQWDLQVVSHFLILFLQVWUXFWLRQVDQGH[FHSWLRQVSHUWDLQLQJWRWKHVWDWHPHQWVRQWKLVODEHODERXWSHUVRQDO SURWHFWLYHHTXLSPHQW33(DQGUHVWULFWHGHQWU\LQWHUYDO7KHUHTXLUHPHQWVLQWKLVER[RQO\DSSO\WRXVHVRIWKLVSURGXFW WKDWDUHFRYHUHGE\WKH:RUNHU3URWHFWLRQ6WDQGDUG  'RQRWHQWHURUDOORZZRUNHUHQWU\LQWRWUHDWHGDUHDVGXULQJWKHUHVWULFWHGHQWU\LQWHUYDO5(,RIKRXUV  33(UHTXLUHGIRUHDUO\HQWU\WRWUHDWHGDUHDVWKDWLVSHUPLWWHGXQGHUWKH:RUNHU3URWHFWLRQ6WDQGDUGDQGWKDWLQYROYHV FRQWDFWZLWKDQ\WKLQJWKDWKDVEHHQWUHDWHGVXFKDVVRLORUZDWHULV ‡ &RYHUDOOV ‡ 6KRHVSOXVVRFNVDQG ‡ &KHPLFDOUHVLVWDQWJORYHVPDGHRIDQ\ZDWHUSURRIPDWHULDO   635$<'5,)7$'9,625,(6 7+($33/,&$725,65(63216,%/()25$92,',12))6,7(635$<'5,)7%($:$5(2)1($5%<121 7$5*(76,7(6$1'(19,5210(17$/&21',7,216  ,03257$1&(2)'523/(76,=( $QHIIHFWLYHZD\WRUHGXFHVSUD\GULIWLVWRDSSO\ODUJHGURSOHWV8VHWKHODUJHVWGURSOHWVWKDWSURYLGHWDUJHWSHVWFRQWURO :KLOHDSSO\LQJODUJHUGURSOHWVZLOOUHGXFHVSUD\GULIWWKHSRWHQWLDOIRUGULIWZLOOEHJUHDWHULIDSSOLFDWLRQVDUHPDGH LPSURSHUO\RUXQGHUXQIDYRUDEOHHQYLURQPHQWDOFRQGLWLRQV  &RQWUROOLQJ'URSOHW6L]H±URXQG%RRP x 9ROXPH,QFUHDVLQJWKHVSUD\YROXPHVRWKDWODUJHUGURSOHWVDUHSURGXFHGZLOOUHGXFHVSUD\GULIW8VHWKHKLJKHVW SUDFWLFDOVSUD\YROXPHIRUWKHDSSOLFDWLRQ,IDJUHDWHUVSUD\YROXPHLVQHHGHGFRQVLGHUXVLQJDQR]]OHZLWKD KLJKHUIORZUDWH x 3UHVVXUH8VHWKHORZHVWVSUD\SUHVVXUHUHFRPPHQGHGIRUWKHQR]]OHWRSURGXFHWKHWDUJHWVSUD\YROXPHDQG GURSOHWVL]H x 6SUD\1R]]OH8VHDVSUD\QR]]OHWKDWLVGHVLJQHGIRUWKHLQWHQGHGDSSOLFDWLRQ&RQVLGHUXVLQJQR]]OHVGHVLJQHG WRUHGXFHGULIW  &RQWUROOLQJ'URSOHW6L]H±$LUFUDIW x $GMXVW1R]]OHV)ROORZQR]]OHPDQXIDFWXUHU¶VUHFRPPHQGDWLRQVIRUVHWWLQJXSQR]]OHVHQHUDOO\WRUHGXFHILQH GURSOHWVQR]]OHVVKRXOGEHRULHQWHGSDUDOOHOZLWKWKHDLUIORZLQIOLJKW  %220+(,+7±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7KH:36DSSOLHVZKHQWKLVSURGXFWLVXVHGWRSURGXFHDJULFXOWXUDOSODQWVRQ IDUPVIRUHVWQXUVHULHVRUJUHHQKRXVHV'RQRWHQWHURUDOORZRWKHUVWRHQWHUXQWLOVSUD\VKDYHGULHG

 )LOHQDPH2PQL2LO&/1GRF    7(03(5$785(,19(56,216 'ULIWSRWHQWLDOLVKLJKGXULQJDWHPSHUDWXUHLQYHUVLRQ7HPSHUDWXUHLQYHUVLRQVDUHFKDUDFWHUL]HGE\LQFUHDVLQJWHPSHUDWXUH ZLWKDOWLWXGHDQGDUHFRPPRQRQQLJKWVZLWKOLPLWHGFORXGFRYHUDQGOLJKWWRQRZLQG7KHSUHVHQFHRIDQLQYHUVLRQFDQEH LQGLFDWHGE\JURXQGIRJRUE\WKHPRYHPHQWRIVPRNHIURPDJURXQGVRXUFHRUDQDLUFUDIWVPRNHJHQHUDWRU6PRNHWKDW OD\HUVDQGPRYHVODWHUDOO\LQDFRQFHQWUDWHGFORXGXQGHUORZZLQGFRQGLWLRQV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ž)  'RQRWHQWHURUDOORZRWKHUVWRHQWHUXQWLOVSUD\VKDYHGULHG  'RQRWDSSO\WKLVSURGXFWLQDZD\WKDWZLOOFRQWDFWZRUNHUVRURWKHUSHUVRQVHLWKHUGLUHFWO\RUWKURXJKGULIW  'RQRWDSSO\WKLVSURGXFWLQDZD\WKDWZLOOFRQWDFWDGXOWVFKLOGUHQRUSHWVGLUHFWO\RUWKURXJKGULIW  2QO\SURWHFWHGKDQGOHUVPD\EHLQWKHDUHDGXULQJDSSOLFDWLRQ  ,IWHPSHUDWXUHVKDYHGURSSHGEHORZž)LQFOXGLQJRYHUQLJKWORZVGRQRWVSUD\WUHHDQGYLQHFURSVXQWLOGD\WLPH WHPSHUDWXUHVKDYHULVHQWRDERYHž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±3RVWKDUYHVWDIWHUDOO IUXLWLVRIIWKHWUHH'RUPDQWDQG'HOD\HG'RUPDQWEHIRUHWKHVFDOHVVOLSRUSULRUWRRUDWEXGVZHOODQG$SSOHV±SULRU WRRUXSWRWKH'HOD\HG'RUPDQWLQFKJUHHQSHULRG,ILQGRXEWVSUD\DSRUWLRQRIRQHWUHHSUHYLRXVO\WUHDWHGZLWK VXOIXUXVLQJTXDUWRI201,2,/LQJDOORQVRIZDWHU,IVXIILFLHQWWLPHKDVQRWHODSVHGIROLDUEXUQZLOOVKRZLQVHYHUDO GD\V  'RQRWXVH201,2,/LQFRPELQDWLRQZLWKRULPPHGLDWHO\EHIRUHRUDIWHUVSUD\LQJZLWKGLQLWURFRPSRXQGVIXQJLFLGHV VXFKDV&DSWDQ)ROSHW'\UHQH0RUHVWDQRUDQ\RWKHUSURGXFWFRQWDLQLQJVXOIXU  ([FHSWZKHUHVSHFLILHGRWKHUZLVHWKHUDWHVRI201,2,/SUHVFULEHGE\WKLVODEHODUHRQWKHEDVLVRIGLOXWLRQLQ JDOORQVRIZDWHU

 )LOHQDPH2PQL2LO&/1GRF    7KLVSURGXFWPD\EHDSSOLHGXVLQJFRQYHQWLRQDOK\GUDXOLFVSUD\HUVFRQFHQWUDWHDSSOLFDWLRQHTXLSPHQWJURXQG DSSOLFDWLRQHTXLSPHQWRUDLUFUDIW  :KHQDSSO\LQJE\JURXQGHTXLSPHQWXVHHQRXJKVSUD\VROXWLRQWRFRPSOHWHO\SHQHWUDWHWKHOHDIFDQRS\DQGFRYHUERWK WRSDQGERWWRPRIDOOOHDYHVXQWLOZHWEXWZLWKRXWVLJQLILFDQWUXQRII7KLVODEHO¶VGLUHFWLRQVUHJDUGLQJYROXPHRIVSUD\ VROXWLRQSHUWDLQWRDSSOLFDWLRQVWRPDWXUHWUHHVDQGYLQHVZLWKQRUPDOIROLDJHFRYHU5HGXFHUDWHVSURSRUWLRQDOO\IRU VPDOOHUDQGLPPDWXUHSODQWV  )RUDSSOLFDWLRQVE\FRQFHQWUDWHPHWKRGVDSSO\WKHWRWDODPRXQWRI201,2,/LQGLFDWHGRQWKHSHUJDOORQEDVLV H[FHSWZKHUHWKHODEHOVSHFLILHVDFWXDOFRQFHQWUDWLRQUDWHV([DPSOH,IWKHUDWHIRUDGLOXWHDSSOLFDWLRQLVH[SUHVVHGLQ WHUPVRIJDOORQVSHUDFUH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$GGHQRXJKZDWHUWRWKHPL[LQJWDQNIRUSURSHUDJLWDWLRQ $GGPLFURQXWULHQWVDQGRWKHUGHVLUHGSHVWLFLGHV,IGU\SHVWLFLGHSURGXFWVDUHXVHGPL[WKHPDWHULDOVZLWKZDWHU WKRURXJKO\VRWKDWWKH\DUHFRPSOHWHO\GLVSHUVHGLQWKHPL[LQJWDQN'2127DGG201,2,/EHIRUHDXQLIRUPPL[WXUH RISHVWLFLGHDQGZDWHULVREWDLQHG 0DLQWDLQDJLWDWLRQRIWKHPL[XQWLOWKHVSUD\LVDSSOLHG)OXVKDQ\VSUD\PL[UHPDLQLQJLQKRVHVEDFNLQWRWKHWDQNLIWKH VROXWLRQVWDQGVIRUPRUHWKDQPLQXWHV (QVXUHWKDWVSUD\HTXLSPHQWLVWKRURXJKO\FOHDQVRWKDWUHVLGXHVIURPRWKHUDSSOLFDWLRQVGRQRWUHPDLQ  $/)$/)$6HHG&URS2QO\8VHTXDUWSHUDFUHLQDPLQLPXPRIJDOORQVRIZDWHUSHUDFUHIRUJURXQGDSSOLFDWLRQV RULQDPLQLPXPRIJDOORQVRIZDWHUSHUDFUHIRUDHULDODSSOLFDWLRQVZKHQXVHGLQFRPELQDWLRQDQGDWWKHODEHOHGUDWHV ZLWKLQVHFWLFLGHVRUPLWLFLGHVWKDWDUHODEHOHGIRUXVHZLWKRLOVSUD\V7RLQFUHDVHWKHHIIHFWLYHQHVVRIGHVLFFDQWVDSSO\ JDOORQVRISURGXFWSHUDFUHE\DLULQDPLQLPXPRIJDOORQVRIZDWHU7KLVXVHLVOLPLWHGWRKHUELFLGHGHVLFFDQWSURGXFWV WKDWDUHODEHOHGIRUDOIDOIDVHHGGHVLFFDWLRQ  $/021'6$35,&276&+(55,(61(&7$5,1(63($&+(63/8063581(6'RUPDQWRU'HOD\HG'RUPDQW± 'LOXWH6SUD\%URZQ$SULFRW6FDOH%ODFN6FDOH6DQ-RVH6FDOH2OLYH6FDOH3DUODWRULD6FDOH2OHDQGHU6FDOH)URVWHG 6FDOH,WDOLDQ3HDU6FDOH(XURSHDQ)UXLW/HFDQLXP3XWQDP6FDOH6RIW%URZQ6FDOHRWKHU6FDOH,QVHFWV(JJVRI $SKLGV5HG6SLGHU0LWHV%URZQ0LWHV±8VHWRJDOORQVLQWRJDOORQVRIZDWHUSHUDFUH&RQFHQWUDWH6SUD\ 8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\$OPRQGVDQG$SULFRWV(XURSHDQ5HG0LWH%URZQ0LWH 6DQ-RVH6FDOH±8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\6SULQJRU6XPPHU'LOXWH6SUD\7ZR VSRWWHG0LWHV3DFLILF0LWHV(XURSHDQ5HG0LWHVDQG%URZQ0LWHV±8VHWRJDOORQVLQWRJDOORQVRIZDWHUSHU DFUH6SULQJRU6XPPHU&RQFHQWUDWH8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\$HULDO$SSOLFDWLRQ 8VHDWOHDVWDQGQRPRUHWKDQJDOORQVRISURGXFWLQDPLQLPXPRIJDOORQVRIVSUD\3OXPVDQG3UXQHV±'LOXWH 6SUD\3HDFK7ZLJ%RUHU±$SSO\±JDOORQVRIVSUD\VROXWLRQSHUDFUHXVLQJWRJDOORQVSHUJDOORQVRI ZDWHU&RQFHQWUDWH6SUD\8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIZDWHU$HULDO$SSOLFDWLRQ8VHWR JDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\  5HVWULFWLRQVIRUDSSOLFDWLRQVRQ&+(55,(621/<'RQRWH[FHHGDPD[LPXPDSSOLFDWLRQUDWHRIJDOORQVSHU JDOORQVRIVSUD\PL[WXUHRUE\YROXPH'RQRWDSSO\WKLVSURGXFWWRFKHUULHVLQFRQMXQFWLRQZLWKD]LQSKRVPHWK\O EDVHGLQVHFWLFLGHV  $33/(65XVW0LWH'HOD\HG'RUPDQW±8VHWRJDOORQVRISURGXFWLQWRJDOORQVRIZDWHUSHUDFUH6XPPHU 8VH±8VHWRJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\  $33/(63($56'RUPDQWRU'HOD\HG'RUPDQW±'LOXWH6SUD\6DQ-RVH6FDOH3HDU6FDOH(JJVRI$SKLGV5HG 6SLGHU0LWHV5XVW0LWHV$SSOHVRQO\±GHOD\HGGRUPDQW±8VHWRJDOORQVLQWRJDOORQVRIZDWHUSHUDFUH

 )LOHQDPH2PQL2LO&/1GRF   3HDUVRQO\'HOD\HG'RUPDQW3HDU3V\OOD±8VHJDOORQVLQWRJDOORQVRIZDWHUSHUDFUH&RQFHQWUDWH6SUD\ 8VHWRJDOORQVLQDPLQLPXPRIJDOORQVRIVSUD\SHUDFUH6XPPHU'LOXWH6SUD\7ZR6SRWWHG6SLGHU0LWHV3DFLILF 0LWHVDQG(XURSHDQ5HG0LWHV±8VHWRJDOORQVSHUDFUHGLOXWHGLQWRJDOORQVRIZDWHU&RQFHQWUDWH6SUD\ 8VHQRPRUHWKDQJDOORQVSHUDFUHLQDPLQLPXPRIJDOORQVRIVSUD\$HULDO$SSOLFDWLRQ8VHQRPRUHWKDQ JDOORQVRISURGXFWLQDPLQLPXPRIJDOORQVRIVSUD\SHUDFUH  'RUPDQW:DVKLQJWRQ2UHJRQDQG,GDKRRQO\$SSOHV±'LOXWHVSUD\IRUPLWHVDQG6DQ-RVHVFDOHXVHWR JDOORQVRIRLOSOXVVXOIXURUOLPHVXOIXUDWWKHVSHFLILHGODEHOUDWH&RQFHQWUDWHVSUD\8VHWRJDOORQVRIRLOSHUDFUHSOXV WKHVSHFLILHGODEHOUDWHRIVXOIXURUOLPHVXOIXULQVXIILFLHQWZDWHUWRWRWDOWRJDOORQVRIVSUD\SHUDFUH3HDUV'LOXWH 6SUD\±3HDU3V\OODXVHWRJDOORQVRIRLOSOXVVXOIXURUOLPHVXOIXUDWWKHVSHFLILHGODEHOUDWH&RQFHQWUDWHVSUD\8VH QRPRUHWKDQILYHJDOORQVRIRLOSOXVWKHVSHFLILHGODEHOUDWHRIVXOIXURUOLPHVXOIXULQVXIILFLHQWZDWHUWRWRWDOWR JDOORQVRIVSUD\SHUDFUH  127(2LOSOXVVXOIXURUOLPHVXOIXUFDQFDXVHVHYHUHIROLDJHDQGIUXLWEXGLQMXU\LIDSSOLHGDIWHUWKHGRUPDQWSHULRG  $63$5$86%($16%((76&251&8&85%,763(33(56648$6+$1'720$72(6$SKLGV0LWHV%HHWOH /DUYDH/HDIPLQHUV&DWHUSLOODUV8VHWRJDOORQVRISURGXFWSHUJDOORQVRIZDWHUSHUDFUH  $92&$'26)RU0LWHVDQG7KULSV±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1RWH%HJLQDSSOLFDWLRQZKHQ GLVHDVHILUVWDSSHDUVDQGFRQWLQXHHYHU\GD\VGXULQJUDLQ\VHDVRQRUDVLVQHHGHG'RQRWDSSO\ZKHQGD\WLPH WHPSHUDWXUHVH[FHHGƒ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±8VH±JDOORQVLQJDOORQVRIZDWHUSHUDFUHLQFRPELQDWLRQZLWK RWKHULQVHFWLFLGHVRUPLWLFLGHVUHJLVWHUHGIRUXVHRQWKHVHFURSV  &2))(()RUFRQWURORI*UHHQ6FDOHXVHJDOORQVLQJDOORQVRIZDWHUSHUDFUH8VHRQO\ZDWHUDVDGLOXHQW  ),*6)LJ6FDOH±'RUPDQWRU'HOD\HG'RUPDQW±'LOXWH6SUD\8VHWRJDOORQVSHUJDOORQVRIZDWHU$SSO\WR JDOORQVRIVSUD\PL[SHUDFUH8VHJDOORQVRISURGXFWSHUJDOORQVRIZDWHUIRUVHYHUHLQIHVWDWLRQV&RQFHQWUDWH 6SUD\8VHWRJDOORQVLQDPLQLPXPRIJDOORQVRIVSUD\SHUDFUH  5$3(6'RUPDQW'LOXWH6SUD\0HDO\EXJ±8VHWRJDOORQVSOXVWKHDSSURSULDWHODEHOHGUDWHRIDQLQVHFWLFLGH UHJLVWHUHGIRUXVHRQJUDSHVIRUPHDO\EXJFRQWUROLQWRJDOORQVZDWHUSHUDFUH&RQFHQWUDWH6SUD\8VHWR JDOORQVSOXVWKHDSSURSULDWHODEHOHGUDWHRIDQLQVHFWLFLGHUHJLVWHUHGIRUXVHRQJUDSHVIRUPHDO\EXJFRQWUROSHUDFUHLQ HQRXJKZDWHUIRUWKRURXJKFRYHUDJH6XSSUHVVLRQRIUDSHDQG9DULHJDWHG/HDIKRSSHUQ\PSKV±8VHWRJDOORQV SHUJDOORQVRIZDWHUDVDGLOXWHVSUD\RUJDOORQVSHUDFUHFRQFHQWUDWH0LWHVXSSUHVVLRQ±WRJDOORQVSHUDFUH FRQFHQWUDWH1DUURZUDQJHRLOVVXFKDV201,2,/FDQWHPSRUDULO\DIIHFWVXUIDFHEORRPDSSHDUDQFHZLWKRXWFDXVLQJ VXEVXUIDFHLQMXU\:KHQXVHGIRUOHDIKRSSHURUPLWHVXSSUHVVLRQZLWKLQGD\VRIKDUYHVW201,2,/VKRXOGQRWEH DSSOLHGWRJUDSHVGHVLJQDWHGIRUIUHVKPDUNHW  *5$3(66XPPHU8VH8VHóWRJDOORQSHUJDOORQVRIZDWHUWRFRQWUROPLWHVDQGSRZGHU\PLOGHZ'RQRW H[FHHGJDOORQRIRLOSHUDFUHGXULQJVXPPHUDSSOLFDWLRQV'RQRWVSUD\QHDUWKHWLPHRIVXOIXUDSSOLFDWLRQ 

 )LOHQDPH2PQL2LO&/1GRF   +236)RUFRQWURORI0LWHVDQG3RZGHU\0LOGHZ8VHJDOORQVRIRLOLQJDOORQVRIZDWHUSHUDFUH1RWH3RZGHU\ 0LOGHZ,QLWLDWHVSUD\VDWHDUO\OHDIVWDJH&RQWLQXHVSUD\VHYHU\GD\V0LWHFRQWUROZLOOEHHIIHFWLYHXQGHUWKH VDPHVSUD\LQWHUYDODVSRZGHU\PLOGHZVSUD\V  2/,9(6'LOXWH6SUD\3DUODWRULD6FDOH2OHDQGHU6FDOH2OLYH6FDOH%ODFN6FDOHDQG6SLGHU0LWHV±8VHJDOORQVRI SURGXFWLQWRJDOORQVRUZDWHUSHUDFUH7KLVSURGXFWPD\EHDSSOLHGSRVWEORRPODWH0D\WKURXJK-XQHZKHQ FUDZOHUVDUHSUHVHQWLQVXPPHU-XO\WKURXJK$XJXVWDQGSRVWKDUYHVW2FWREHUWKURXJK1RYHPEHU  3,67$&+,26'RUPDQWDQG'HOD\HG'RUPDQW$SSOLFDWLRQV6RIW6FDOHDQG:LQWHULQJ3K\WRFRULV±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±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x -DQXDU\WR0D\LQ2UDQJHDQG6DQ'LHJR&RXQWLHVDQGWKH2[QDUG3ODLQV x )HEUXDU\WR-XQHLQWKH6DQWD0DULD9DOOH\DQG x 0DUFKWR-XQHLQ0RQWHUH\DQG6DQWD&UX]&RXQWLHV  7523,&$/)58,76.LZL0DQJR3DSD\DDQG3LQHDSSOH .LZL)RUFRQWURORI/DWDQLD6FDOHUHHG\6FDOH2OHDQGHU6FDOHDQG6DQ-RVH6FDOH8VHJDOORQVRIRLOSHU JDOORQVRIZDWHUSHUDFUH8VHJDOORQVRIRLOSHUJDOORQVRIZDWHUSHUDFUHZKHQVFDOHSRSXODWLRQVDUHKLJK  0DQJR)RUFRQWURORI0LWHVDQG3RZGHU\0LOGHZ8VHJDOORQVRIRLOLQJDOORQVRIZDWHUSHUDFUH  3DSD\D)RUFRQWURORI0LWHV3RZGHU\0LOGHZDQG3DSD\D5LQJVSRW9LUXV8VHJDOORQVLQJDOORQVRIZDWHU SHUDFUH  3LQHDSSOH)RUFRQWURORI0HDO\EXJV%XG0RWKDQG&KLQHVH5RVH%HHWOH6SUD\8VHJDOORQVRIRLOLQJDOORQVRI ZDWHUSHUDFUH'LS8VHJDOORQVRIRLOLQJDOORQVRIZDWHU'LSIRUVHFRQGV  72%$&&2)RUFRQWURORI$SKLGV0LWHV%HHWOH/DUYDH/HDIPLQHUV7KULSV/HDIKRSSHUDQG:KLWHIO\8VHJDOORQ RIRLOSHUJDOORQVRIZDWHUSHUDFUH  &,7586&LWUXVVSS)RUWXQHOODVSS 25$1(61$9(/$1'9$/(1&,$*5$3()58,70$1'$5,16&,7521DQG27+(5&,7586VSS5HG6FDOH <HOORZ6FDOH&LWULFROD6FDOH3XUSOH6FDOH%ODFN6FDOHDQG%URZQ6RIW6FDOH:KLWHIOLHV5HG6SLGHU0LWHV3DFLILF 6SLGHU0LWHVDQG7ZR6SRWWHG6SLGHU0LWHV'LOXWH6SUD\±$SSO\WRJDOORQVRISURGXFWSHUDFUHLQODWHVXPPHU WKURXJK2FWREHU)RUVRXWKHUQ&DOLIRUQLDLQFOXGLQJDOOFRDVWDOFRXQWLHVDSSO\WRJDOORQVSHUDFUHWKURXJKRXWWKH \HDULHQRWLPLQJUHVWULFWLRQV'RQRWDSSO\WRQDYHORUDQJHVGXULQJRUDIWHUFRORUEUHDN0DNHDSSOLFDWLRQVLQHQRXJK ZDWHUIRUWKRURXJKFRYHUDJH&RQFHQWUDWH6SUD\±$SSO\LQDPLQLPXPRIJDOORQVSHUDFUH 

 )LOHQDPH2PQL2LO&/1GRF   /(0216$1'/,0(65HG6FDOH<HOORZ6FDOH3XUSOH6FDOH%ODFN6FDOH%URZQ6RIW6FDOH5HG6SLGHU0LWHV%XG 0LWHVDQG)ODW0LWHV'LOXWH6SUD\±$SSO\WRJDOORQVRISURGXFWSHUDFUH$SSO\LQODWHVSULQJDQGODWHVXPPHU WKURXJK'HFHPEHU,Q6RXWKHUQ&DOLIRUQLDLQFOXGLQJDOOFRDVWDOFRXQWLHVWRJDOORQVWKURXJKRXWWKH\HDUQRWLPLQJ UHVWULFWLRQV0DNHDSSOLFDWLRQVLQHQRXJKZDWHUIRUWKRURXJKFRYHUDJH&RQFHQWUDWH6SUD\±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LQ7H[DVDQG)ORULGD'RQRWH[FHHGSRXQGVDFWLYHLQJUHGLHQWSHUDFUHLQDPD[LPXPRI JDOORQVRIVSUD\PL[SHUDFUHLQ&DOLIRUQLD  :$/1876'HOD\HG'RUPDQW%ODFN6FDOH6DQ-RVH6FDOH2OLYH6FDOH)URVWHG6FDOH&DOLFR6FDOH(XURSHDQ)UXLW /HFDQLXP6FDOH5HG6SLGHU0LWH(JJVDQG:DOQXW$SKLG(JJV'LOXWH6SUD\±8VHJDOORQVLQWRJDOORQVRI ZDWHUSHUDFUH)ROLDUIXOO\H[SDQGHGOHDYHV6SLGHU0LWHV±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&DWHUSLOODUV(ULRSK\LG0LWHVDOO0LWHV/DFH%XJV/HDI%HHWOH/DUYDH/HDIPLQHUV 0HDO\EXJV3V\OOLGVLPPDWXUH6DZIO\/DUYDH6FDOHVLPPDWXUH6SLGHU0LWHV:KLWHIOLHVLPPDWXUH:LQWHU'RUPDQW 3HULRGDVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU1RWH7KLVSURGXFWPD\FDXVHGLVFRORUDWLRQRI %OXH6SUXFH'RQRWXVHRQ&RQLIHUVRU)HUQVWKDWDUHQRWWROHUDQWWRRLOVSUD\V  2UQDPHQWDO7UHHV 6KUXEVDORQJFLW\VWUHHWVDQGRWKHUULJKWVRIZD\LQFOXGLQJ&RQLIHUV'HFLGXRXVDQG %URDGOHDI(YHUJUHHQV$SKLGV$GHOJLGV%XJVLPPDWXUH&DWHUSLOODUV(ULRSK\LG0LWHVDOO0LWHV/DFH%XJV/HDI %HHWOH/DUYDH/HDIPLQHUV0HDO\EXJV3V\OOLGVLPPDWXUH6DZIO\/DUYDH6FDOHVLPPDWXUH6SLGHU0LWHV:KLWHIOLHV LPPDWXUH:LQWHU'RUPDQW3HULRGDVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVRIZDWHU6XPPHU)ROLDU RU&RYHUDVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU'RQRWXVHRQ&KULVWPDVWUHHV  5RVHVDQGRWKHU)ORZHULQJ6KUXEV$SKLGV$GHOJLGV%XJVLPPDWXUH&DWHUSLOODUV(ULRSK\LG0LWHVDOO0LWHV/DFH %XJV/HDI%HHWOH/DUYDH/HDIPLQHUV0HDO\EXJV3V\OOLGVLPPDWXUH6DZIO\/DUYDH6FDOHVLPPDWXUH6SLGHU0LWHV :KLWHIOLHVLPPDWXUH:LQWHU'RUPDQW3HULRGDVQHHGHG±8VHWRJDOORQVSURGXFWSHUJDOORQVZDWHU6XPPHU )ROLDURU&RYHUDVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU  )ROLDJH2UQDPHQWDOV %HGGLQJ3ODQWV$SKLGV$GHOJLGV%XJVLPPDWXUH&DWHUSLOODUV(ULRSK\LG0LWHV*DOO0LWHV /DFH%XJV/HDI%HHWOH/DUYDH/HDIPLQHUV0HDO\EXJV3V\OOLGVLPPDWXUH6DZIO\/DUYDH6FDOHVLPPDWXUH6SLGHU 0LWHV:KLWHIOLHVLPPDWXUH:LQWHU'RUPDQW3HULRGDVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU 6XPPHU)ROLDURU&RYHUDVQHHGHG±8VHWRJDOORQVRISURGXFWSHUJDOORQVZDWHU 

2LOUHPRYHVWKHJODXFRXVEOXH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

 )LOHQDPH2PQL2LO&/1GRF   &KHUU\&UDEDSSOH1RUZD\0DSOHDQG3XUSOH/HDI3OXP.HHSVSUD\DZD\IURPRSHQEORRPV%OHDFKLQJDQGVSRWWLQJRI RSHQEORRPVKDYHEHHQREVHUYHGZLWKVRPHW\SHVRISODQWV  6725$($1'',6326$/ 'RQRWFRQWDPLQDWHZDWHUIRRGRUIHHGE\VWRUDJHRUGLVSRVDO  3(67,&,'( 6725$( .HHS FRQWDLQHU ZHOO VHDOHG 'R QRW FRQWDPLQDWH ZLWK ZDWHU RU RWKHU VROXWLRQV WR DYRLG ORVV RI HPXOVLILFDWLRQDQGSK\WRWR[LFLW\3URWHFWIURPH[FHVVLYHKHDW  3(67,&,'(',6326$/'RQRWFRQWDPLQDWHZDWHUIRRGRUIHHGE\VWRUDJHRUGLVSRVDO:DVWHVUHVXOWLQJIURPWKHXVHRI WKLVSURGXFWPD\EHGLVSRVHGRIRQVLWHRUDWDQDSSURYHGZDVWHGLVSRVDOIDFLOLW\  &217$,1(5',6326$/ 1215(),//%/(&217,1(5(48$/7225/(667+$1*$//216'RQRWUHXVHRUUHILOOWKLVFRQWDLQHU7ULSOH ULQVH FRQWDLQHU RU HTXLYDOHQW SURPSWO\ DIWHU HPSW\LQJ 7ULSOHU L Q V H D V I R O O R Z V  ( P S W \ W K H U H P D L Q L Q J F R Q W H Q W V L Q W R  DSSOLFDWLRQ HTXLSPHQW RU DPL[ WDQN DQG GUDLQ IRU  VHFRQGV DIWHU WKH IORZ EHJLQV WR GULS )LOO WKH FRQWDLQHU ó IXOO ZLWK ZDWHUDQGUHFDS6KDNHIRUVHFRQGV3RXUULQVDWHLQWRDSSOLFDWLRQHTXLSPHQWRUDPL[WDQNRUVWRUHULQVDWHIRUODWHUXVH RUGLVSRVDO'UDLQIRUVHFRQGVDIWHUWKHIORZEHJLQVWRGULS5HSHDWWKLVSURFHGXUHWZRPRUHWLPHV2IIHUIRUUHF\FOLQJLI DYDLODEOH RUSXQFWXUHDQG GLVSRVHRIFRQWDLQHULQDVDQLWDU\ ODQGILOORU E\RWKHU SURFHGXUHV DSSURYHGE\VWDWH DQGORFDO DXWKRULWLHV  1215(),//%/( &217,1(5 *5($7(5 7+$1  *$//216 'R QRW UHXVH RU UHILOO WKLV FRQWDLQHU 7ULSOH ULQVH FRQWDLQHU RU HTXLYDOHQW SURPSWO\ DIWHU HPSW\LQJ 7ULSOH ULQVH DV IROORZV (PSW\ WKH UHPDLQLQJ FRQWHQWV LQWR DSSOLFDWLRQ HTXLSPHQWRUDPL[WDQN)LOOWKHFRQWDLQHUóIXOOZLWKZDWHU5HSODFHDQGWLJKWHQFORVXUHV7LSFRQWDLQHURQLWVVLGHDQG UROOLWEDFNDQGIRUWKHQVXULQJDWOHDVWRQHFRPSOHWHUHYROXWLRQIRUVHFRQGV6WDQGWKHFRQWDLQHURQLWVHQGDQGWLSLW EDFNDQGIRUWKVHYHUDOWLPHV7XUQWKHFRQWDLQHURYHURQWRLWVRWKHUHQGDQGWLSLWEDFNDQGIRUWKVHYHUDOWLPHV(PSW\WKH ULQVDWHLQWRDSSOLFDWLRQHTXLSPHQWRUDPL[WDQNRUVWRUHULQVDWHIRUODWHUXVHRUGLVSRVDO5HSHDWWKLVSURFHGXUHWZRPRUH WLPHV 2IIHU IRU UHF\FOLQJ LI DYDLODEOH RU SXQFWXUH DQG GLVSRVH RI FRQWDLQHU LQ D VDQLWDU\ ODQGILOO RU E\ RWKHU SURFHGXUHV DSSURYHGE\VWDWHDQGORFDODXWKRULWLHV  5(),//%/(&217,1(55HILOOWKLVFRQWDLQHUZLWKSHVWLFLGHRQO\'RQRWUHXVHWKLVFRQWDLQHUIRUDQ\RWKHUSXUSRVH &OHDQLQJWKHFRQWDLQHUEHIRUHILQDOGLVSRVDOLVWKHUHVSRQVLELOLW\RIWKHSHUVRQGLVSRVLQJRIWKHFRQWDLQHU&OHDQLQJEHIRUH UHILOOLQJLVWKHUHVSRQVLELOLW\RIWKHUHILOOHU7RFOHDQWKHFRQWDLQHUEHIRUHILQDOGLVSRVDOHPSW\WKHUHPDLQLQJFRQWHQWVIURP WKLVFRQWDLQHULQWRDSSOLFDWLRQHTXLSPHQWRUPL[WDQN)LOOWKHFRQWDLQHUDERXWSHUFHQWIXOOZLWKZDWHU$JLWDWHYLJRURXVO\ RUUHFLUFXODWHZDWHUZLWKWKHSXPSIRUPLQXWHV3RXURUSXPSULQVDWHLQWRDSSOLFDWLRQHTXLSPHQWRUULQVDWHFROOHFWLRQ V\VWHP5HSHDWWKLVULQVLQJSURFHGXUHWZRPRUHWLPHV2IIHUIRUUHF\FOLQJLIDYDLODEOHRUSXQFWXUHDQGGLVSRVHRILQD VDQLWDU\ODQGILOORUE\RWKHUSURFHGXUHVDSSURYHGE\VWDWHDQGORFDODXWKRULWLHV  &21',7,2162)6$/(±/,0,7(':$55$17< $1'/,0,7$7,2162)/,$%,/,7<$1'5(0(',(6 5HDGWKH&RQGLWLRQVRI6DOH±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¶VHOHFWLRQRQHRIWKHIROORZLQJ  5HIXQGRIWKHSXUFKDVHSULFHSDLGE\EX\HURUXVHUIRUSURGXFWERXJKWRU  5HSODFHPHQWRIWKHSURGXFWXVHG 7RWKHH[WHQWFRQVLVWHQWZLWKDSSOLFDEOHODZWKH&RPSDQ\VKDOOQRWEHOLDEOHDQGDQ\DQGDOOFODLPVDJDLQVWWKH&RPSDQ\ DUHZDLYHGIRUVSHFLDOLQGLUHFWLQFLGHQWDORUFRQVHTXHQWLDOGDPDJHVRUH[SHQVHRIDQ\QDWXUHLQFOXGLQJEXWQRWOLPLWHG

 )LOHQDPH2PQL2LO&/1GRF   WRORVVRISURILWVRULQFRPH7KH&RPSDQ\DQGWKHVHOOHURIIHUWKLVSURGXFWDQGWKHEX\HUDQGXVHUDFFHSWLWVXEMHFWWRWKH IRUHJRLQJFRQGLWLRQVRIVDOHDQGOLPLWDWLRQRIZDUUDQW\OLDELOLW\DQGUHPHGLHV ‹&RS\ULJKW+HOHQD+ROGLQJ&RPSDQ\