Important Announcement
PubHTML5 Scheduled Server Maintenance on (GMT) Sunday, June 26th, 2:00 am - 8:00 am.
PubHTML5 site will be inoperative during the times indicated!

Home Explore MCA612-617_Computer Programming

MCA612-617_Computer Programming

Published by Teamlease Edtech Ltd (Amita Chitroda), 2020-10-23 10:13:53

Description: MCA612-617_Computer Programming

Search

Read the Text Version

&RPSXWHU3URJUDPPLQJ  .H\\:RUGV$EEUHYLDWLRQV $UUD\\VDUH LPSRUWDQWWR &DQG VKRXOGQHHGDORWPRUHDWWHQWLRQ7KH IROORZLQJLPSRUWDQW FRQFHSWVUHODWHGWRDUUD\\VKRXOGEHFOHDUWRD&SURJUDPPHU±  0XOWLGLPHQVLRQDODUUD\\V&VXSSRUWVPXOWLGLPHQVLRQDODUUD\\V7KHVLPSOHVWIRUPRI WKHPXOWLGLPHQVLRQDODUUD\\LVWKHWZRGLPHQVLRQDODUUD\\  3DVVLQJDUUD\\VWRIXQFWLRQV<RXFDQSDVVWRWKHIXQFWLRQDSRLQWHUWRDQDUUD\\E\\ VSHFLI\\LQJWKHDUUD\\ VQDPHZLWKRXWDQLQGH[  5HWXUQDUUD\\IURPDIXQFWLRQ&DOORZVDIXQFWLRQWRUHWXUQDQDUUD\\  3RLQWHUWRDQDUUD\\<RXFDQJHQHUDWHDSRLQWHUWRWKHILUVWHOHPHQWRIDQDUUD\\E\\ VLPSO\\VSHFLI\\LQJWKHDUUD\\QDPHZLWKRXWDQ\\LQGH[  /HDUQLQJ$FWLYLW\\  'LIIHUHQWLDWHEHWZHHQRQHGLPHQVLRQDODUUD\\DQGPXOWLGLPHQVLRQDODUUD\\ BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  :ULWH3URJUDPLQ&WRWDNHYDOXHVIURPWKHXVHUDQGVWRUHWKHPLQDQDUUD\\ BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  :ULWH3URJUDPLQ&ILQGWKHDYHUDJHRIQQXPEHUVXVLQJDUUD\\V BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB  8QLW(QG4XHVWLRQV 0&4DQG'HVFULSWLYH $'HVFULSWLYH7\\SH6KRUW$QVZHU7\\SH4XHVWLRQV  :KDWLVDQDUUD\\\"+RZLVLWGHFODUHG\":KDWKDSSHQVLQPHPRU\\\"  ([SODLQWKHSURFHVVRIVLQJOHGLPHQVLRQDUUD\\GHILQLWLRQDQGGHFODUDWLRQ  +RZFDQ\\RXLQLWLDOL]HDVLQJOHDQGGRXEOHGLPHQVLRQDUUD\\\"([SODLQZLWKDQH[DPSOH &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

$UUD\\V   'LIIHUHQWLDWHEHWZHHQRQHGLPHQVLRQDODQGWZRGLPHQVLRQDODUUD\\  :KDWLVDWZRGLPHQVLRQDODUUD\\\"([SODLQKRZLWFDQEHLQLWLDOL]HGDQGKRZWRDFFHVV HOHPHQWVRIDQDUUD\\  :ULWHDSURJUDPLQFWRGHFODUHDVLQJOHGLPHQVLRQDUUD\\RIHOHPHQWV$FFHSW HOHPHQWVIURPWKHXVHUDQGVWRUHLQWRDUUD\\DQGGLVSOD\\VXPRIDOOHOHPHQWVRIDQ DUUD\\VXPRIHYHQHOHPHQWVVHSDUDWHO\\VXPRIRGGHOHPHQWVVHSDUDWHO\\  :ULWHDSURJUDPLQ&WRGHFODUHDVLQJOHGLPHQVLRQDUUD\\RIHOHPHQWV$FFHSW HOHPHQWVIURPWKHXVHUDQGVWRUHLQWRDUUD\\DQGGLVSOD\\KRZPDQ\\HYHQHOHPHQWVKRZ PDQ\\RGGHOHPHQWVVHSDUDWHO\\  :ULWHDSURJUDPLQ&WRGHFODUHDVLQJOHGLPHQVLRQDUUD\\RIHOHPHQWV$FFHSW HOHPHQWVIURPWKHXVHUDQGVWRUHLQWRDUUD\\DQG$UUDQJHDUUD\\HOHPHQWVLQDVFHQGLQJ RUGHUDQGGLVSOD\\VRUWHGRUGHURIHOHPHQWVDOVRGLVSOD\\PLQLPXPDQGPD[LPXPHOHPHQW IURPDUUD\\  :ULWHDSURJUDPLQ&WRGHFODUHDPDWUL[RIî$FFHSWDOOPDWUL[HOHPHQWVIURPWKH XVHUDQGVWRUHLQWRPDWUL[HOHPHQWVRIWZRGLPHQVLRQDODUUD\\DQGGLVSOD\\PDWUL[ %0XOWLSOH&KRLFH2EMHFWLYH7\\SH4XHVWLRQV  :KLFKRIWKHVHEHVWGHVFULEHVDQDUUD\\\" D $GDWDVWUXFWXUHWKDWVKRZVDKLHUDUFKLFDOEHKDYLRXU E &RQWDLQHURIREMHFWVRIVLPLODUW\\SHV F $UUD\\VDUHLPPXWDEOHRQFHLQLWLDOLVHG G $UUD\\LVQRWDGDWDVWUXFWXUH  +RZGR\\RXLQLWLDOL]HDQDUUD\\LQ&\" D LQWDUU>@    E LQWDUU   ^` F LQWDUU>@ ^` G LQWDUU       $QDUUD\\HOHPHQWVDUHDOZD\\VVWRUHGLQBBBBBBBBBBPHPRU\\ORFDWLRQV D 6HTXHQWLDO E UDQGRP F 6HTXHQWLDODQGUDQGRP G 1RQHRIWKHDERYH &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ  $QDUUD\\,QGH[VWDUWVZLWK\" E  D  G  F  E   :KDWLVWKHRXWSXWRI&3URJUDP\" G &RPSLOHUHUURU LQWPDLQ ^ LQWD>@ D>@ ^` SULQWI GD>@ ` D  F  $QVZHUV  E  F  D  E  G  5HIHUHQFHV  KWWSVEHJLQQHUVERRNFRPFDUUD\\VH[DPSOH  KWWSVIUHVKUHIUHVKFRPFSURJUDPPLQJFDUUD\\  KWWSVZZZWXWRULDOVSRLQWFRPFSURJUDPPLQJFBDUUD\\VKWP  KWWSHHKDZDLLHGXaWHS((%RRN3')&KDSWHUSGI ˆˆˆ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

6WULQJV  81,7 675,1*6 6WUXFWXUH  /HDUQLQJ2EMHFWLYHV  ,QWURGXFWLRQ  6WULQJV%DVLFV  'HFODULQJDQG,QLWLDOL]LQJ6WULQJ9DULDEOHV  6WULQJ6WRUDJH  %XLOWLQVWULQJIXQFWLRQV  6XPPDU\\  .H\\:RUGV$EEUHYLDWLRQV  /HDUQLQJ$FWLYLW\\  8QLW(QG4XHVWLRQV 0&4DQG'HVFULSWLYH  5HIHUHQFHV  /HDUQLQJ2EMHFWLYHV $IWHUVWXG\\LQJWKLVXQLW\\RXZLOOEHDEOHWR z 'HVFULEHWKHFRQFHSWVRIVWULQJV z 'HFODULQJDQGLQLWLDO]LQJWKHVWULQJYDULDEOHV z 6WULQJVWRUDJH z $SSO\\VWULQJKDQGOLQJIXQFWLRQV &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ  ,QWURGXFWLRQ 6WULQJLVDQDUUD\\RIFKDUDFWHUV,QWKLVJXLGHZHOHDUQKRZWRGHFODUHVWULQJVKRZWRZRUN ZLWKVWULQJVLQ&SURJUDPPLQJDQGKRZWRXVHWKHSUHGHILQHGVWULQJKDQGOLQJIXQFWLRQV :HZLOOVHHKRZWRFRPSDUHWZRVWULQJVFRQFDWHQDWHVWULQJVFRS\\RQHVWULQJWRDQRWKHU SHUIRUP YDULRXV VWULQJ PDQLSXODWLRQ RSHUDWLRQV:H FDQ SHUIRUP VXFK RSHUDWLRQV XVLQJ WKH SUH GHILQHGIXQFWLRQVRI³VWULQJK´KHDGHUILOH,QRUGHUWRXVHWKHVHVWULQJIXQFWLRQV\\RXPXVWLQFOXGH VWULQJKILOHLQ\\RXU&SURJUDP  6WULQJV%DVLFV ,Q & SURJUDPPLQJ DUUD\\ RI FKDUDFWHUV LV FDOOHG DVWULQJ$ VWULQJLV WHUPLQDWHG E\\ D QXOO FKDUDFWHU6WULQJVDUHLQIDFWRQHGLPHQVLRQDODUUD\\RIFKDUDFWHUV6WULQJVDUHDOZD\\VHQFORVHGE\\ GRXEOHTXRWHV:KHUHDVFKDUDFWHULVHQFORVHGE\\VLQJOHTXRWHVLQ& ([DPSOHIRU&6WULQJ FKDUVWULQJ>@ ^ V  K  U  X  W  N  L  U  W  L  ? `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

6WULQJV  ^ FKDUQDPH>@ SULQWI (QWHUQDPH  VFDQI VQDPH  SULQWI <RXUQDPHLVVQDPH  UHWXUQ ` 2XWSXW (QWHUQDPH 6KUXWNLUWL <RXUQDPHLV6KUXWNLUWL  'HFODULQJDQG,QLWLDOL]LQJ6WULQJ9DULDEOHV &RQVLGHUWKHIROORZLQJGHFODUDWLRQDQGLQLWLDOL]DWLRQWKDWFUHDWHVDVWULQJFRQVLVWLQJRIWKHZRUG 3URJUDP7RKROGWKHQXOOFKDUDFWHUDWWKHHQGRIWKHDUUD\\WKHVL]HRIWKHFKDUDFWHUDUUD\\FRQWDLQLQJ WKHVWULQJLVRQHPRUHWKDQWKHQXPEHURIFKDUDFWHUVLQWKHZRUG3URJUDPPLQJ FKDUZRUG>@ ^ 3  U  R  J  U  D  P  ? ` 7KHDERYHDUUD\\FDQDOVREHLQLWLDOL]HGDVIROORZV FKDUZRUG>@ 3URJUDP  6WULQJ 6WRUDJH ,QGH[  $UUD\\ 3 U R J U D P ? 0HPRU\\ORFDWLRQ         )LJ&RQWHQWVRIWKHFKDUDFWHUDUUD\\ 7KHQXOO FKDUDFWHU DXWRPDWLFDOO\\SODFHVWKH?FKDUDFWHU DW WKH HQGRI WKHVWULQJZKHQLW V LQLWLDOL]HGLQWKHDUUD\\ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ ([DPSOH YRLGPDLQ ^ FKDUZRUG>@ ^ 3  U  R  J  U  D  P  ? ` SULQWI 0HVVDJH VZRUG  ` 2XWSXW 0HVVDJH 3URJUDP *OREDODQG/RFDO9DULDEOHV $ORFDOYDULDEOHLVGHFODUHGLQVLGHDIXQFWLRQ$JOREDOYDULDEOHLVGHFODUHGRXWVLGHDOOIXQFWLRQV $ORFDOYDULDEOHFDQRQO\\EHXVHGLQWKHIXQFWLRQZKHUHLWLVGHFODUHG$JOREDOYDULDEOHFDQEHXVHG LQDOOIXQFWLRQV LQFOXGHVWGLRK! *OREDOYDULDEOHV LQW[ LQW\\ LQWDGG ^ UHWXUQ[\\ ` LQWPDLQ ^ LQWDQVZHU/RFDOYDULDEOH [  \\  &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

6WULQJV  DQVZHU DGG  SULQWI ³G?Q´DQVZHU  UHWXUQ `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z ,IWKHILUVWVWULQJLVJUHDWHUWKDQWKHVHFRQGVWULQJDQXPEHUJUHDWHUWKDQQXOOLVUHWXUQHG z ,IWKHILUVWVWULQJLVOHVVWKDQWKHVHFRQGVWULQJDQXPEHUOHVVWKDQQXOOLVUHWXUQHG z ,IWKHILUVWDQGWKHVHFRQGVWULQJDUHHTXDODQXOOLVUHWXUQHG &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

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z ,IEXIIHULVJUHDWHUWKDQEXIIHUDQXPEHUJUHDWHUWKDQQXOOLVUHWXUQHG z ,IEXIIHULVOHVVWKDQEXIIHUDQXPEHUOHVVWKDQQXOOLVUHWXUQHG z ,IEXIIHUDQGEXIIHUDUHHTXDODQXOOLVUHWXUQHG &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

6WULQJV  1RWH 7KHUHDUHDOVROLEUDU\\IXQFWLRQVPHPFS\\PHPVHWDQGPHPFKU VWUOZU IXQFWLRQ VWUOZU  IXQFWLRQFRQYHUWVDJLYHQVWULQJLQWRORZHUFDVH6\\QWD[IRUVWUOZU  IXQFWLRQLVJLYHQ EHORZ FKDU VWUOZU FKDU VWULQJ  ,QWKLVSURJUDPVWULQJ02',)<7KLV6WULQJ7R/2ZHULVFRQYHUWHGLQWRORZHUFDVHXVLQJ VWUOZU  IXQFWLRQDQGUHVXOWLVGLVSOD\\HGDV7+,6,6&$3,7$/675,1* LQFOXGHVWGLRK! LQFOXGHVWULQJK! LQWPDLQ ^ FKDUVWU>@ 7+,6,6&$3,7$/675,1* SULQWI V?QVWUOZU VWU  UHWXUQ ` 2XWSXW PRGLI\\WKLVVWULQJWRORZHU VWUXSU IXQFWLRQ VWUXSU  IXQFWLRQFRQYHUWVDJLYHQVWULQJLQWRXSSHUFDVH6\\QWD[IRUVWUXSU  IXQFWLRQLVJLYHQ EHORZ FKDU VWUXSU FKDU VWULQJ  ,QWKLVSURJUDPVWULQJLVFRQYHUWHGLQWRXSSHUFDVHXVLQJVWUXSU  IXQFWLRQDQGUHVXOWLVGLVSOD\\HG DV7+,6,6/2:(5&$6(675,1* LQFOXGHVWGLRK! LQFOXGHVWULQJK! LQWPDLQ ^ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ FKDUVWU>@ 7KLVLVORZHUFDVHVWULQJ SULQWI V?QVWUXSU VWU  UHWXUQ ` 2XWSXW 02',)<7+,6675,1*72833(5 VWUUHY IXQFWLRQ VWUUHY  IXQFWLRQUHYHUVHVDJLYHQVWULQJLQ&ODQJXDJH6\\QWD[IRUVWUUHY  IXQFWLRQLVJLYHQ EHORZ FKDU VWUUHY FKDU VWULQJ  ,QEHORZSURJUDPVWULQJ6KUXWNLUWLLVUHYHUVHGXVLQJVWUUHY  IXQFWLRQDQGRXWSXWLVGLVSOD\\HG DVLWULNWXUK6 LQFOXGHVWGLRK! LQFOXGHVWULQJK! LQWPDLQ ^ FKDUQDPH>@ 6KUXWNLUWL SULQWI 6WULQJEHIRUHVWUUHY  V?QQDPH  SULQWI 6WULQJDIWHUVWUUHY  VVWUUHY QDPH  UHWXUQ ` 2XWSXW 6WULQJEHIRUHVWUUHY  6KUXWNLUWL 6WULQJDIWHUVWUUHY  LWULNWXUK6 &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

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

&RPSXWHU3URJUDPPLQJ SULQWI ?Q?Q2ULJLQDO0HVVDJHV?Q  SULQWI ?Q0VJVPVJ  SULQWI ?Q0VJVPVJ  FRS\\VWULQJ VWUFS\\ PVJPVJ  SULQWI ?Q?Q0HVVDJHVDIWHUFRS\\LQJ?Q  SULQWI ?Q0VJVPVJ  SULQWI ?Q0VJVPVJ  SULQWI ?Q0VJVPVJ  SULQWI ?Q?Q/HQJWKRI0HVVDJHVEHIRUHFRQFDWHQDWLRQ?Q  SULQWI ?Q0VJGVWUOHQ PVJ  SULQWI ?Q0VJGVWUOHQ PVJ  VWULQJFRQFDWHQDWLRQ VWUFDW PVJPVJ  SULQWI ?Q?Q0HVVDJHVDIWHUFRQFDWHQDWLRQ?Q  SULQWI ?Q0VJVPVJ  SULQWI ?Q0VJVPVJ  SULQWI ?Q?Q/HQJWKRI0HVVDJHVDIWHUFRQFDWHQDWLRQ?Q  SULQWI ?Q0VJGVWUOHQ PVJ  SULQWI ?Q0VJGVWUOHQ PVJ  JHWFK  ` 2XWSXW 2ULJLQDO0HVVDJH 0VJ*RRG 0VJ0RUQLQJ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

6WULQJV  0HVVDJHVDIWHUFRS\\LQJ 0VJ*RRG 0VJ0RUQLQJ 0VJ0RUQLQJ /HQJWKRI0HVVDJHVEHIRUHFRQFDWHQDWLRQ 0VJ 0VJ 0HVVDJHVDIWHUFRQFDWHQDWLRQ 0VJ*RRG0RUQLQJ 0VJ0RUQLQJ /HQJWKRI0HVVDJHVDIWHUFRQFDWHQDWLRQ 0VJ 0VJ  6XPPDU\\ z 6WULQJVDUHDFWXDOO\\RQHGLPHQVLRQDODUUD\\RIFKDUDFWHUVWHUPLQDWHGE\\DQXOOFKDUDFWHU µ?¶ 7KXV D QXOOWHUPLQDWHG VWULQJ FRQWDLQV WKH FKDUDFWHUV WKDW FRPSULVH WKH VWULQJ IROORZHGE\\DQXOO z 6WULQJVDUHGHILQHGDVDQDUUD\\RIFKDUDFWHUV7KHGLIIHUHQFHEHWZHHQDFKDUDFWHUDUUD\\ DQGDVWULQJLVWKHVWULQJLVWHUPLQDWHGZLWKDVSHFLDOFKDUDFWHUµ?¶  .H\\:RUGV$EEUHYLDWLRQV &675,1*)81&7,216 6WULQJKKHDGHUILOHVXSSRUWVDOOWKHVWULQJIXQFWLRQVLQ&ODQJXDJH$OOWKHVWULQJIXQFWLRQVDUH JLYHQEHORZ  VWUFDW  &RQFDWHQDWHVVWUDWWKHHQGRIVWU  VWUFS\\  &RSLHVVWULQWRVWU  VWUOHQ  *LYHVWKHOHQJWKRIVWU &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ  VWUFPS  5HWXUQVLIVWULVVDPHDVVWU5HWXUQVLIVWUOVWU5HWXUQV!LIVWU !VWU  VWUFPSL  6DPHDVVWUFPS IXQFWLRQ%XWWKLVIXQFWLRQQHJRWLDWHVFDVH³$´DQG³D´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

&RPSXWHU3URJUDPPLQJ  :KDWZLOOEHWKHRXWSXWRIWKHIROORZLQJ&FRGH\" LQFOXGHVWGLRK! LQWPDLQ ^ FKDU VWU KHOORZRUOG?Q SULQWI GVWUOHQ VWU  ` D &RPSLODWLRQHUURU E 8QGHILQHGEHKDYLRXU F  G  $QVZHUV  E  F  F  F  G  5HIHUHQFHV  KWWSVZZZWXWRULDOVSRLQWFRPOHDUQBFBE\\BH[DPSOHVVWULQJBSURJUDPVBLQBFKWP  KWWSVEHJLQQHUVERRNFRPFVWULQJVVWULQJIXQFWLRQV  KWWSVZZZSURJUDPL]FRPFSURJUDPPLQJFVWULQJV  &3URJUDPPLQJ/DQJXDJHZULWWHQE\\'HQQLV5LWFKLHDQG%ULDQ:.HUQLJKDQ ˆˆˆ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  81,7 )81&7,216 6WUXFWXUH  /HDUQLQJ2EMHFWLYHV  ,QWURGXFWLRQ  &RQFHSWVRI8VHU'HILQHG)XQFWLRQ  )XQFWLRQ3URWRW\\SH 'HFODUDWLRQ DQG'HILQLWLRQ  5HWXUQ6WDWHPHQW  &DOOLQJD)XQFWLRQE\\3DVVLQJ9DOXHV  5HFXUVLYH)XQFWLRQ  6XPPDU\\  .H\\:RUGV$EEUHYLDWLRQV  /HDUQLQJ$FWLYLW\\  8QLW(QG4XHVWLRQV 0&4DQG'HVFULSWLYH  5HIHUHQFHV  /HDUQLQJ2EMHFWLYHV $IWHUVWXG\\LQJWKLVXQLW\\RXZLOOEHDEOHWR z ([SODLQWKHFRQFHSWVRIIXQFWLRQV z 'HVFULEHGLIIHUHQWW\\SHVRIIXQFWLRQV z 'LVFXVVUHFXUVLYHIXQFWLRQV z 'LVFXVV$WWULEXWHVRIIXQFWLRQV &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ z 'LVFXVV3URWRW\\SHRI)XQFWLRQ z 'LIIIHUHQWZD\\RIFDOOLQJWKH)XQFWLRQ  ,QWURGXFWLRQ $IXQFWLRQLVDEORFNRIVWDWHPHQWVWKDWSHUIRUPVDVSHFLILFWDVN6XSSRVH\\RXDUHEXLOGLQJDQ DSSOLFDWLRQLQ&ODQJXDJHDQGLQRQHRI\\RXUSURJUDP\\RXQHHGWRSHUIRUPDVDPHWDVNPRUHWKDQ RQFH,QVXFKFDVH\\RXKDYHWZRRSWLRQV±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

)XQFWLRQV   0RGLILFDWLRQFDQEHGRQHHDVLO\\EHFDXVHRIPRGXODUL]DWLRQ8SGDWDWLRQGRHVQRWDIIHFW ZKROHSURJUDPRQO\\UHVSHFWLYHPRGXOHZLOOEHDIIHFWHG &DWHJRULHVRI)XQFWLRQV &IXQFWLRQVFDQEHFODVVLILHGLQWRWZRFDWHJRULHV z /LEUDU\\IXQFWLRQV z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` 5HWXUQBW\\SH(YHU\\IXQFWLRQUHWXUQVDYDOXHDIWHUH[HFXWLRQRIEORFNRIVWDWHPHQWV5HWXUQ W\\SHFDQEHRIDQ\\GDWDW\\SHVXFKDVLQWGRXEOHFKDUYRLGVKRUWHWF1RUPDOO\\IXQFWLRQUHWXUQ W\\SHLVDQ\\GDWDW\\SHEXWLIIXQFWLRQGRHVQRWUHWXUQDQ\\YDOXHWKHQZHKDYHWRVSHFLI\\ZLWKYRLG NH\\ZRUGWRLQGLFDWHIXQFWLRQUHWXUQVQXOOYDOXH &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ )XQFWLRQBQDPH)XQFWLRQQDPHVKRXOGEHYDOLGLGHQWLILHUDQGIXQFWLRQQDPHVKRXOGEHD PHDQLQJIXO QDPH VR WKDW LW FDQ EH HDV\\ WR XQGHUVWDQG WKH SXUSRVH RI IXQFWLRQ MXVW E\\ VHHLQJ LWV QDPH $UJXPHQWOLVWSDUDPHWHUOLVW W\\SHDUJW\\SHDUJ $UJXPHQWVDUHDOVRFDOOHGSDUDPHWHUV SDUDPHWHUOLVWFRQWDLQVYDULDEOHVQDPHVDORQJZLWKWKHLUGDWDW\\SHV7KHVHDUJXPHQWVDUHSRVLWLRQDO IRUPDOGXPP\\SDUDPHWHUVZKRVHYDOXHFDQEHUHSODFHGZLWKDFWXDOSDUDPHWHUGXULQJIXQFWLRQFDOO )RU H[DPSOH±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` 3UREOHP:ULWHD)XQFWLRQWRSULQWHQWHUHGQXPEHULQHYHQRURGG 6ROXWLRQ )XQFWLRQGHILQLWLRQRIHYHQQXPEHUFKHFNLQJZLWK1RUHWXUQW\\SHKHQFHYRLG YRLGHYHQ LQWD ^ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  LI D   SULQWI ³DLVHYHQ´  HOVH SULQWI ³DLVRGG´  ` ([DPSOH  IXQFWLRQUHWXUQW\\SHLVYRLGDQGGRHVQ¶WKDYHSDUDPHWHUV  YRLGPDLQ ^  FDOOLQJIXQFWLRQ  LQWUR  JHWFK  ` YRLGLQWUR ^ SULQWI ³+L?Q´  SULQWI ³0\\QDPHLV.LUDQ*XUEDQL?Q´  SULQWI ³+RZDUH\\RX\"´   WKHUHLVQRUHWXUQVWDWHPHQWLQVLGHWKLVIXQFWLRQVLQFHLWV UHWXUQW\\SHLVYRLG  ` 2XWSXW +L 0\\QDPHLV.LUDQ*XUEDQL +RZDUH\\RX\" &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

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z LQWVXP LQWLQWLQW LQWF 25 z LQWVXP LQWDLQWELQWF  )XQFWLRQZLWKLQWHJHUDUJXPHQWDQGLQWHJHUDVUHWXUQW\\SHLVUHSUHVHQWHGXVLQJEHORZV\\QWD[ z LQWFXEH LQW  ,QWKHEHORZH[DPSOHZHKDYHZULWWHQIXQFWLRQZLWKQRDUJXPHQWDQGQRUHWXUQW\\SH z YRLGGLVSOD\\ YRLG  &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  ,QEHORZH[DPSOHZHKDYHGHFODUHGIXQFWLRQZLWKQRDUJXPHQWDQGLQWHJHUDVUHWXUQW\\SH z LQW JHW YRLG  &DVH)XQFWLRQGHILQLWLRQZULWWHQEHIRUHPDLQIXQFWLRQ ,QWKLVFDVHZHDUHGHILQLQJIXQFWLRQEHIRUHPDLQIXQFWLRQKHQFHIXQFWLRQGHFODUDWLRQLVQRW QHHGHG,WLVRSWLRQDO LQFOXGHVWGLRK! LQFOXGHFRQLRK! YRLGGLVSOD\\ ^ SULQWI ³+HOOR:HOFRPHWR.LUDQ?Q´  SULQWI ³+RZDUH\\RX´  ` YRLGPDLQ ^ GLVSOD\\  JHWFK  ` &DVH)XQFWLRQGHILQLWLRQZULWWHQDIWHUPDLQIXQFWLRQ ,Q WKLV FDVH ZH DUH GHILQLQJ IXQFWLRQ DIWHU PDLQ IXQLFWLRQ KHQFH IXQFWLRQ GHFODUDWLRQ LV FRPSXOVRU\\WREHVSHFLILHGLQWKHJOREDOGHFODUDWLRQRUORFDOGHFODUDWLRQEHIRUHPDLQIXQFWLRQ LQFOXGHVWGLRK! LQFOXGHFRQLRK! )XQFWLRQ3URWRW\\SH'HFODUDWLRQ LQWVXP LQWDLQWE  YRLGPDLQ ^ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ LQW[\\V FOUVFU  SULQWI ³(QWHUWZRQXPEHUV?Q´  VFDQI ³GG´ [ \\  V [\\ SULQWI ³?Q7KHVXPRIWZRQXPEHUVLVG´V  JHWFK  ` LQWVXP LQWDLQWE ^ LQWF F DE UHWXUQF `  3DVVLQJ$UJXPHQWVWRD)XQFWLRQDQG6SHFLI\\LQJ$UJXPHQW'DWD7\\SH $UJXPHQWVDUHWKHSDUDPHWHUVWKDWDUHSDVVHGWRDIXQFWLRQGHILQLWLRQIXQFWLRQFDOODQGIXQFWLRQ GHFODUDWLRQ 7KHVHSDUDPHWHUVRUDUJXPHQWVDUHORFDOWRDIXQFWLRQWKHVFRSHRIWKHVHDUJXPHQWVLVYDOLG ZLWKLQDIXQFWLRQLWVHOIRXWVLGHIXQFWLRQLWFDQQRWEHH[HFXWHGKHQFHWKHVHORFDODUJXPHQWVYDOXH LVWREHSDVVHGWRIRUPDOSRVLWLRQDOSDUDPHWHUVRIWKHIXQFWLRQ $UJXPHQWVFDQEHSDVVHGWRIXQFWLRQVDQGIXQFWLRQVDOZD\\VUHWXUQRQHYDOXH  ,IIXQFWLRQUHWXUQVRQO\\RQHVLQJOHYDOXHWKHQIXQFWLRQPXVWKDYHUHWXUQGDWDW\\SH FRPSXOVRU\\ ([DPSOH6XPRIWKUHHQXPEHUV)DFWRULDORIDQXPEHUWKHVHIXQFWLRQVKDYLQJUHWXUQ YDOXHE\\IXQFWLRQZLOOEHVLQJOH  ,IIXQFWLRQUHWXUQVPRUHWKDQRQHYDOXHVRULIWKURXJKIXQFWLRQZHDUHJRLQJWRSULQW DQ\\PHVVDJHWKHQ LQERWKWKHFDVHVIXQFWLRQGRHVQRWKDYHDQ\\UHWXUQW\\SHEHFDXVH &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

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³(QWHUWZRQXPEHUV?Q´  VFDQI ³GG´ [ \\  ] VXP [\\  &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ SULQWI ³?Q7KHVXPRIWZRQXPEHUVLVG´]  JHWFK  ` LQWDGG LQWDLQWE ^ LQWU U DE UHWXUQU `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³(QWHUDQXPEHU?Q´  VFDQI ³G´ [  HYHQ [  &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  JHWFK  ` YRLGHYHQ LQWQ ^ ,I Q  SULQWI ³ Q GLVHYHQQXPEHU³Q  HOVH SULQWI ³Q GLVRGGQXPEHU´Q  `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³(QWHUDQXPEHU?Q´  VFDQI ³G´ [  QDWXUDO [  &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ JHWFK  ` YRLGQDWXUDO LQWQ ^ LQWL IRU L L QL ^ SULQWI ³G´L  ` `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¶VFRQVLGHUDYDULDEOH[FRPSLOHULPPHGLDWHO\\DVVLJQVDPHPRU\\ORFDWLRQDIWHUWKHYDULDEOH GHFODUDWLRQ7KHDGGUHVVRIYDULDEOH[FDQEHDFFHVVHGXVLQJWKHH[SUHVVLRQ [ZKHUH LVDXQDU\\ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

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

&RPSXWHU3URJUDPPLQJ :HKDYHXVHGDUJXPHQWVWRVHQGYDOXHVWRWKHFDOOHGIXQFWLRQLQWKHVDPHZD\\ZHFDQDOVR XVHDUJXPHQWVWRVHQGEDFNLQIRUPDWLRQWRWKHFDOOLQJIXQFWLRQ7KHDUJXPHQWVWKDWDUHXVHGWRVHQG EDFNGDWDDUHFDOOHG2XWSXW3DUDPHWHUV ,W LV D ELW GLIILFXOW IRU D QRYLFH EHFDXVH WKLV W\\SH RIIXQFWLRQ XVHVD SRLQWHU /HW¶V VHH DQ H[DPSOH LQFOXGHVWGLRK! LQFOXGHFRQLRK! YRLGPDLQ ^ LQWOHQEUDUHDSHUL YRLGDUHDSHUL LQWOLQWELQW DUHDLQW SHUL  FOUVFU  SULQWI ³(QWHUOHQJWK EUHDWK?Q´  VFDQI ³GG´ OHQ EU DUHD SHUL  SULQWI ³$UHDLVG´ DUHD  SULQWI ³SHUPHWHULVG´ SHUL  JHWFK  ` YRLGDUHDSHUL LQWOLQWELQW DUHDLQW SHUL ^ DUHD O E SHUL  OE  ` 3DUDPHWHUVDUHRIWZRW\\SHV )RUPDODUJXPHQWV:KLOHGHFODULQJDIXQFWLRQLHZKLOHVSHFLI\\LQJIXQFWLRQSURWRW\\SHRU SURYLGLQJ IXQFWLRQVLJQDWXUHWKHDUJXPHQWVOLVWRISDUDPHWHUVZHVSHFLI\\DUHNQRZQDVIRUPDO SDUDPHWHUV7KHVHIRUPDOSDUDPHWHUVDUHDOVRFDOOHGGXPP\\SDUDPHWHUVDQGWKH\\DUHORFDOYDULDEOHV &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  WRDIXQFWLRQDOVRWKH\\DUHFDOOHGDVSRVLWLRQDOSDUDPHWHUVVLQFHWKHLUSRVWLRQLVIL[HGZKHQSDVVHG ZLWKLQDIXQFWLRQ:KLOHSDVVLQJIRUPDOSDUDPHWHUVZHKDYHWRVSHFLI\\GDWDW\\SHV $FWXDODUJXPHQWV7KHSDUDPHWHU¶VYDOXH RUDUJXPHQWV ZHSURYLGHZKLOHFDOOLQJDIXQFWLRQ LVNQRZQDVDFWXDODUJXPHQWV7KHVHDUJXPHQWVDUHRULJLQDORUDFWXDOYDOXHVRISDUDPHWHUVZKLFKLV WREHSDVVHGGXULQJIXQFWLRQFDOO$FWXDOSDUDPHWHUVDUHDOVRSRVLWLRQDOSDUDPHWHUV:KLOHSDVVLQJ DFWXDO SDUDPHWHUV ZH KDYH WR SDVV YDOXHV RI YDULDEOHV EXW ZH GRQ¶W KDYH WR SDVV GDWD W\\SH RI SDUDPHWHUVZHKDYHWRSDVVRQO\\DUJXPHQWVRULWVYDOXH )RUH[DPSOH ([DPSOHRI&SURJUDPFRQWDLQLQJDIXQFWLRQWKDWDOWHUVWKHYDOXHRILWVDUJXPHQW LQFOXGHVWGLRK! YRLGPRGLI\\ LQWD  IXQFWLRQSURWRW\\SH  YRLGPDLQ  ^ LQWD  SULQWI ³?QD G IURPPDLQEHIRUHFDOOLQJWKHIXQFWLRQ ³D  PRGLI\\ D  SULQWI ³?QD G IURPPDLQDIWHUFDOOLJWKHIXQFWLRQ ³D  JHWFK  ` YRLGPRGLI\\ LQWD ^ D  SULQWI ³?QD G IURPWKHIXQFWLRQDIWHUEHLQJPRGLILHG ´D  UHWXUQ ` 7KHYDOXHRIDYDULDEOHLVDVVLJQHGZLWKYDOXHLVRULJLQDOYDOXHRID LHD  LVGLVSOD\\HG ZKHQPDLQEHJLQVH[HFXWLRQ7KLVYDOXHLVWKHQSDVVHGWRWKHIXQFWLRQPRGLI\\LHDFWXDOSDUDPHWHU DYDOXHZLOOEHSDVVHGWRIRUPDOSDUDPHWHURIPRGLI\\IXQFWLRQZKHUHLWLVPXOWLSOLHGE\\LQPRGLI\\ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

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

)XQFWLRQV   5HWXUQ6WDWHPHQW /LNH YDULDEOH DQG DQ DUUD\\ D IXQFWLRQ PXVW DOVR EH GHFODUHG EHIRUH LW LV FDOOHG$ IXQFWLRQ GHFODUDWLRQWHOOVWKHFRPSLOHUDERXWDIXQFWLRQQDPHDQGKRZWRFDOOWKHIXQFWLRQ )XQFWLRQ'HILQLWLRQ  )XQFWLRQ'HILQLWLRQLVDERG\\RIWKHIXQFWLRQZULWWHQRXWVLGHWKHPDLQIXQFWLRQ  7KH IXQFWLRQ GHILQLWLRQ KDV D IXQFWLRQ KHDGHU VWDWHPHQW ZLWK D ERG\\ RI VWDWHPHQWV HQFORVHGZLWKLQ^DQG`  )XQFWLRQGHILQLWLRQKDVWZRPDLQFRPSRQHQWV  )LUVW/LQH)XQFWLRQ+HDGHU  %RG\\ RIIXQFWLRQHQFORVHGZLWK^`  7KH)LUVW+HDGHUVWDWHPHQWFRQVLVWVRIW\\SHVSHFLILFDWLRQRIWKHYDOXHUHWXUQHGE\\WKH IXQFWLRQIROORZHGE\\IXQFWLRQQDPHDQGIROORZHGE\\   :LWKLQ  URXQGEUDFNHWVHLWKHUFDQEHHPSW\\RULWFDQKDYHSDUDPHWHUVRUDUJXPHQWV ZLWKGDWDW\\SHRIHDFKDUJXPHQW 7KH6\\QWD[RIIXQFWLRQGHILQLWLRQLV UHWXUQBW\\SHIXQFWLRQBQDPH QRRISDUDPHWHUVDUJXPHQWVZLWKGDWDW\\SHV ^ FVWDWHPHQW %ORFNFRGHRIVWDWHPHQWV FVWDWHPHQW UHWXUQVWDWHPHQW ` z 5HWXUQBW\\SH(YHU\\IXQFWLRQUHWXUQVDYDOXHDIWHUH[HFXWLRQRIEORFNRIVWDWHPHQWV 5HWXUQW\\SHFDQEHRIDQ\\GDWDW\\SHVXFKDVLQWGRXEOHFKDUYRLGVKRUWHWF1RUPDOO\\ IXQFWLRQUHWXUQW\\SHLVDQ\\GDWDW\\SHEXWLIIXQFWLRQGRHVQRWUHWXUQDQ\\YDOXHWKHQZH KDYHWRVSHFLI\\ZLWKYRLGNH\\ZRUGWRLQGLFDWHIXQFWLRQUHWXUQVQXOOYDOXH z )XQFWLRQBQDPH)XQFWLRQQDPHVKRXOGEHYDOLGLGHQWLILHUDQGIXQFWLRQQDPHVKRXOG EHDPHDQLQJIXOQDPHVRWKDWLWFDQEHHDV\\WRXQGHUVWDQGWKHSXUSRVHRIIXQFWLRQMXVW E\\VHHLQJLWVQDPH &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ z $UJXPHQW OLVWSDUDPHWHU OLVW W\\SH DUJ W\\SH DUJ  $UJXPHQWV DUH DOVR FDOOHG SDUDPHWHUVSDUDPHWHUOLVWFRQWDLQVYDULDEOHVQDPHVDORQJZLWKWKHLUGDWDW\\SHV7KHVH DUJXPHQWVDUHSRVLWLRQDOIRUPDOGXPP\\SDUDPHWHUVZKRVHYDOXHFDQEHUHSODFHGZLWK DFWXDOSDUDPHWHUGXULQJIXQFWLRQFDOO)RUH[DPSOH±$IXQFWLRQZKLFKLVXVHGWRDGG WKUHHLQWHJHUYDULDEOHVZLOOKDYHWKUHHLQWHJHUDUJXPHQW$OODUJXPHQWVDUHWREHVSHFLILHG DORQJZLWKGDWDW\\SHDQGDUHVHSDUDWHGE\\FRPPDV z %ORFN RIFRGH,WLV D6HWRU%ORFN RI &VWDWHPHQWVZKLFKZLOOEHH[HFXWHG GXULQJ IXQFWLRQFDOO)XQFWLRQGHILQLWLRQH[HFXWLRQZLOOEHSHUIRUPHGLQDVWDFN ,IIXQFWLRQKDVUHWXUQW\\SHWKHQUHWXUQVWDWHPHQWZLOOEHWKHODVWVWDWHPHQWRIDEORFN DQG LI IXQFWLRQ KDV QR UHWXUQ W\\SH LH YRLG WKHQ WKLV IXQFWLRQ ZLOO KDYH D QR UHWXUQ VWDWHPHQW /HWXVDVVXPHRQH[DPSOHWRVROYHWKHSUREOHPRIIXQFWLRQ )XQFWLRQ'HILQLWLRQRIVXPRIWZRQXPEHUVZLWK5HWXUQW\\SH LQWVXP LQWDLQWE ^ LQWF F DE UHWXUQF ` )XQFWLRQGHILQLWLRQRIHYHQQXPEHUFKHFNLQJZLWKQRUHWXUQW\\SHKHQFHYRLG YRLGHYHQ LQWD ^ LI D   SULQWI ³DLVHYHQ´  HOVH SULQWI ³DLVRGG´  ` &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

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³(QWHUWZRQXPEHUV?Q´  VFDQI ³GG´ [ \\  ] VXP [\\  SULQWI ³?Q7KHVXPRIWZRQXPEHUVLVG´]  JHWFK  ` LQWDGG LQWDLQWE ^ LQWU U DE &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ UHWXUQU ` 3LFWRULDOUHSUHVHQWDWLRQRIIXQFWLRQZLWKDUJXPHQWVDQGUHWXUQW\\SH )XQFWLRQVZLWKDUJXPHQWVWKDWUHWXUQPXOWLSOHYDOXHV 6RIDUZHKDYHOHDUQHGDQGVHHQWKDWLQDIXQFWLRQUHWXUQVWDWHPHQWZDVDEOHWRUHWXUQRQO\\D VLQJOHYDOXH7KDWLVEHFDXVHDUHWXUQVWDWHPHQWFDQUHWXUQRQO\\RQHYDOXH%XWLIZHZDQWWRVHQG EDFNPRUHWKDQRQHYDOXHWKHQKRZFRXOGZHGRWKLV\" :HKDYHXVHGDUJXPHQWVWRVHQGYDOXHVWRWKHFDOOHGIXQFWLRQLQWKHVDPHZD\\ZHFDQDOVR XVHDUJXPHQWVWRVHQGEDFNLQIRUPDWLRQWRWKHFDOOLQJIXQFWLRQ7KHDUJXPHQWVWKDWDUHXVHGWRVHQG EDFNGDWDDUHFDOOHG2XWSXW3DUDPHWHUV ,W LV D ELW GLIILFXOW IRU D QRYLFH EHFDXVH WKLV W\\SH RIIXQFWLRQ XVHVD SRLQWHU /HW¶V VHH DQ H[DPSOH LQFOXGHVWGLRK! LQFOXGHFRQLRK! YRLGPDLQ ^ LQWOHQEUDUHDSHUL YRLGDUHDSHUL LQWOLQWELQW DUHDLQW SHUL  FOUVFU  SULQWI ³(QWHUOHQJWK EUHDWK?Q´  VFDQI ³GG´ OHQ EU DUHD SHUL  SULQWI ³$UHDLVG´ DUHD  SULQWI ³SHUPHWHULVG´ SHUL  JHWFK  ` YRLGDUHDSHUL LQWOLQWELQW DUHDLQW SHUL ^ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  DUHD O E SHUL  OE  `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¶VWDNHDORRNDWDFDOOE\\YDOXHH[DPSOH &DOOE\\YDOXH)XQFWLRQFDOOKDVQXPEHURIGLIIHUHQWSDUDPHWHUVWKHYDOXHRIWKHVHSDUDPHWHUV LVSDVVHGWRIRUPDOSDUDPHWHUVKHQFHWKHYDOXHRIDFWXDOSDUDPHWHUVSDVVHGWRIRUPDOSDUDPHWHUV DUHFDOOHGFDOOE\\YDOXH,QWKLVIXQFWLRQFDOOSDVVHVDUJXPHQWVE\\YDOXH7KHFDOOHGIXQFWLRQFUHDWHV DQHZVHWRIYDULDEOHV )XQFWLRQSURWRW\\SHVWDWHPHQWLV YRLGFDOOBE\\BYDOXH LQW[ )XQFWLRQFDOOVWDWHPHQWLV FDOOBE\\BYDOXH D  )XQFWLRQGHILQLWLRQLV YRLGFDOOBE\\BYDOXH LQW[ ^ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ SULQWI ³,QVLGHFDOOBE\\BYDOXH[ GEHIRUHDGGLQJ?Q´[  [  SULQWI ³,QVLGHFDOOBE\\BYDOXH[ GDIWHUDGGLQJ?Q´[  ` 3URJUDP LQFOXGHVWGLRK! YRLGFDOOBE\\BYDOXH LQW[ ^ SULQWI ³,QVLGHFDOOBE\\BYDOXH[ GEHIRUHDGGLQJ?Q´[  [  SULQWI ³,QVLGHFDOOBE\\BYDOXH[ GDIWHUDGGLQJ?Q´[  ` YRLGPDLQ ^ LQWD  SULQWI ³D GEHIRUHIXQFWLRQFDOOBE\\BYDOXH?Q´D  FDOOBE\\BYDOXH D  SULQWI ³D GDIWHUIXQFWLRQFDOOBE\\BYDOXH?Q´D  JHWFK  ` 7KHRXWSXWRIWKHSURJUDP D EHIRUHIXQFWLRQFDOOBE\\BYDOXH ,QVLGHFDOOBE\\BYDOXH[ EHIRUHDGGLQJ ,QVLGHFDOOBE\\BYDOXH[ DIWHUDGGLQJ D DIWHUIXQFWLRQFDOOBE\\BYDOXH ,QWKHPDLQ ZHFUHDWHDYDULDEOHRILQWHJHUW\\SHWKDWKDVWKHYDOXHRI6WDUWLQJYDOXHRIDZH DUHSULQWLQJWKHQIXQFWLRQFDOOBE\\BYDOXHLVFDOOHGDQGZHLQSXWWKHYDULDEOHD7KLVYDULDEOH D LV &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  WKHQ FRSLHG WR WKH IXQFWLRQ YDULDEOH [ ,Q WKH IXQFWLRQ ZH DGG  WR [ DQG DOVR FDOO VRPH SULQW VWDWHPHQWV 7KHQZKHQWKHQH[WVWDWHPHQWLVFDOOHGLQPDLQ IXQFWLRQWKHYDOXHRIYDULDEOHDLV SULQWHG :H FDQ VHH WKDW WKH YDOXH RI YDULDEOH D LVQ¶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` /HWXVQRZFDOOWKHIXQFWLRQVZDS E\\SDVVLQJYDOXHVE\\UHIHUHQFHDVLQWKHIROORZLQJH[DPSOH LQFOXGHVWGLRK!  IXQFWLRQGHFODUDWLRQ  YRLGVZDS LQW DLQW E  YRLGPDLQ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ ^  ORFDOYDULDEOHGHILQLWLRQ  LQW[  LQW\\  SULQWI ³%HIRUHVZDSYDOXHRI[G?Q´[  SULQWI ³%HIRUHVZDSYDOXHRI\\G?Q´\\   FDOOLQJDIXQFWLRQWRVZDSWKHYDOXHV  [LQGLFDWHVSRLQWHUWR[LHDGGUHVVRIYDULDEOH[DQG  \\LQGLFDWHVSRLQWHUWR\\LHDGGUHVVRIYDULDEOH\\  VZDS [ \\  SULQWI ³$IWHUVZDSYDOXHRI[G?Q´[  SULQWI ³$IWHUVZDSYDOXHRI\\G?Q´\\  JHWFK  ` 2XWSXW %HIRUHVZDSYDOXHRI[ %HIRUHVZDSYDOXHRI\\ $IWHUVZDSYDOXHRI[ $IWHUVZDSYDOXHRI\\  5HFXUVLYH )XQFWLRQ 5HFXUVLRQLVDSURFHVVE\\ZKLFKDIXQFWLRQFDOOVLWVHOIUHSHDWHGO\\XQWLOVRPHVSHFLILHGFRQGLWLRQ KDVEHHQVDWLVILHG)XQFWLRQFDOOLQJLWVHOILV5HFXUVLRQ 7KHSURFHVVLVXVHGIRUUHSHWLWLYHFRPSXWDWLRQVLQZKLFKHDFKDFWLRQLVVWDWHGLQWHUPVRID SUHYLRXVUHVXOW ,Q&5HFXUVLRQLVDSURJUDPPLQJWHFKQLTXHWKDWDOORZVWKHSURJUDPPHUWRH[SUHVVRSHUDWLRQV LQWHUPVRIWKHPVHOYHV &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  5HFXUVLRQLVDSURFHVVE\\ZKLFKDFWLRQFDOOVLWVHOIUHSHDWHGO\\XQWLOVRPHVSHFLILHGFRQGLWLRQ KDVEHHQVDWLVILHG7KHSURFHVVLVXVHGIRUUHSHWLWLYHFRPSXWDWLRQVLQZKLFKHDFKDFWLRQLVVWDWHGLQ WHUPVRIDSUHYLRXVUHVXOW,WLVVLPLODUWRORRSLQJ2QWKHRWKHUKDQGUHFXUVLRQPDNHVLWHDVLHUWR H[SUHVVLGHDVLQZKLFKWKHUHVXOWRIWKHUHFXUVLYHFDOOLVQHFHVVDU\\WRFRPSOHWHWKHWDVN $VLPSOHH[DPSOHRIUHFXUVLRQZRXOGEH YRLGUHFXUVH ^ UHFXUVH  )XQFWLRQFDOOVLWVHOI  ` LQWPDLQ ^ UHFXUVH  6HWVRIIWKHUHFXUVLRQ  UHWXUQ ` 7KLVSURJUDP ZLOOQRWFRQWLQXHIRUHYHUKRZHYHU7KHFRPSXWHUNHHSVIXQFWLRQFDOOVRQD VWDFNDQGRQFHWRRPDQ\\DUHFDOOHGZLWKRXWHQGLQJWKHSURJUDPZLOOFUDVK 5HFXUVLYH )XQFWLRQ 6WDWHP HQ WV 758( &RQGLWLRQ )$/6( 5HPDLQLQJ 6WDWHPHQWV 6723 )LJ)ORZFKDUW6KRZLQJ5HFXUVLRQ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ ([DPSOH  FDOFXODWHWKHIDFWRULDORIDQLQWHJHUTXDQWLW\\XVLQJUHFXUVLRQ  LQFOXGHVWGLRK! ORQJLQWIDFWRULDO LQWQ  IXQFWLRQSURWRW\\SH  YRLGPDLQ  ^ LQWQ ORQJLQWIDFWRULDO LQWQ   UHDGLQWKHLQWHJHUYDOXH  VFDQI ³µOG´ Q   FDOFXODWHDQGGLVSOD\\WKHIDFWRULDO  SULQWI ³Q OG?Q´IDFWRULDO Q  JHWFK  `  IXQFWLRQGHILQLWLRQ  ORQJLQWIDFWRULDO LQWQ  FDOFXODWHWKHIDFWRULDO  ^ LI Q  UHWXUQ   HOVH UHWXUQ Q IDFWRULDO Q  ` 7KHPDLQSRUWLRQRIWKHSURJUDPVLPSO\\UHDGVWKHLQWHJHUTXDQWLW\\QDQGWKHQFDOOVWKHORQJ LQWHJHUUHFXUVLYHIXQFWLRQIDFWRULDO7KHIXQFWLRQIDFWRULDOFDOOVLWVHOIUHFXUVLYHO\\ZLWKDQDFWXDO DUJXPHQW Q WKDWGHFUHDVHVLQPDJQLWXGHIRUHDFKVXFFHVVLYHFDOO7KHUHFXUVLYHFDOOVWHUPLQDWH ZKHQWKHYDOXHRIWKHDFWXDODUJXPHQWEHFRPHVHTXDOWR &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  5HFXUVLYH 0HWKRG IDFWRULDO Q Q <HV 1RW IDFWRULDO  IDFW Q IDFWRULDO Q±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³SRSSHG´RIIWKH VWDFN7KXVZKHQHYDOXDWLQJDIDFWRULDOUHFXUVLYHO\\WKHIXQFWLRQFDOOVZLOOSURFHHGLQWKHIROORZLQJ RUGHU Q Q[ QO  QO   Q [ Q  Q   Q [ Q   [O &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ 7KHDFWXDOYDOXHVZLOOWKHQEHUHWXUQHGLQWKHIROORZLQJUHYHUVHRUGHU O   [O [   [ [   [ [  Q Q[ QO    7KLVUHYHUVDOLQWKHRUGHURIH[HFXWLRQLVDFKDUDFWHULVWLFRIDOOIXQFWLRQVWKDWDUHH[HFXWHG UHFXUVLYHO\\ )LJ5HYHUVDOLQWKH2UGHURI([HFXWLRQ ,IDUHFXUVLYHIXQFWLRQFRQWDLQVORFDOYDULDEOHVDVHWRIORFDOYDULDEOHVZLOOEHFUHDWHGGXULQJ HDFKFDOO7KHQDPHVRIWKHORFDOYDULDEOHVZLOORIFRXUVHDOZD\\VEHWKHVDPHDVGHFODUHGZLWKLQ WKHIXQFWLRQ+RZHYHUWKHYDULDEOHVZLOOUHSUHVHQWDGLIIHUHQWVHWRIYDOXHVHDFKWLPHWKHIXQFWLRQ LVH[HFXWHG &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

)XQFWLRQV  (DFKVHWRIYDOXHVZLOOEHVWRUHGRQWKHVWDFNVRWKDWWKH\\ZLOOEHDYDLODEOHDVWKHUHFXUVLYH SURFHVV³XQZLQGV´LHDVWKHYDULRXVIXQFWLRQFDOOVDUH³SRSSHG´RIIWKHVWDFNDQGH[HFXWHG  6XPPDU\\ &IXQFWLRQVDUHEDVLFEXLOGLQJEORFNVLQHYHU\\&SURJUDP:HKDYHJLYHQNH\\SRLQWVWKRVHWR EHNHSWLQPLQGIRUXVLQJH[LVWLQJ&OLEUDU\\IXQFWLRQVDQGZULWLQJRXURZQIXQFWLRQVLQD&SURJUDP HIILFLHQWO\\ z $OO&SURJUDPVFRQWDLQPDLQ IXQFWLRQZKLFKLVPDQGDWRU\\ z PDLQ IXQFWLRQLVWKHIXQFWLRQIURPZKHUHHYHU\\&SURJUDPLVVWDUWHGWRH[HFXWH z 1DPHRIWKHIXQFWLRQLVXQLTXHLQD&SURJUDP z &)XQFWLRQVFDQEHLQYRNHGIURPDQ\\ZKHUHZLWKLQD&SURJUDP z 7KHUHFDQDQ\\QXPEHURIIXQFWLRQVEHFUHDWHGLQDSURJUDP7KHUHLVQROLPLWRQWKLV z 7KHUHLVQROLPLWLQFDOOLQJ&IXQFWLRQVLQDSURJUDP z $OOIXQFWLRQVDUHFDOOHGLQVHTXHQFHPDQQHUVSHFLILHGLQPDLQ IXQFWLRQ z 2QHIXQFWLRQFDQEHFDOOHGZLWKLQDQRWKHUIXQFWLRQ z &IXQFWLRQVFDQEHFDOOHGZLWKRUZLWKRXWDUJXPHQWVSDUDPHWHUV7KHVHDUJXPHQWVDUH QRWKLQJEXWLQSXWVWRWKHIXQFWLRQV z &IXQFWLRQVPD\\RUPD\\QRWUHWXUQYDOXHVWRFDOOLQJIXQFWLRQV7KHVHYDOXHVDUHQRWKLQJ EXWRXWSXWRIWKHIXQFWLRQV z :KHQDIXQFWLRQFRPSOHWHVLWVWDVNSURJUDPFRQWUROLVUHWXUQHGWRWKHIXQFWLRQIURP ZKHUHLWLVFDOOHG z 7KHUHFDQEHIXQFWLRQVZLWKLQIXQFWLRQV z %HIRUHFDOOLQJDQGGHILQLQJDIXQFWLRQZHKDYHWRGHFODUHIXQFWLRQSURWRW\\SHLQRUGHU WRLQIRUPWKHFRPSLOHUDERXWWKHIXQFWLRQQDPHIXQFWLRQSDUDPHWHUVDQGUHWXUQYDOXH W\\SH z &IXQFWLRQFDQUHWXUQRQO\\RQHYDOXHWRWKHFDOOLQJIXQFWLRQ z :KHQUHWXUQGDWDW\\SHRIDIXQFWLRQLV³YRLG´WKHQLWZRQ¶WUHWXUQDQ\\YDOXHV &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ z :KHQUHWXUQGDWDW\\SHRIDIXQFWLRQLVRWKHUWKDQYRLGVXFKDV³LQWIORDWGRXEOH´LW UHWXUQVYDOXHWRWKHFDOOLQJIXQFWLRQ z PDLQ SURJUDPFRPHVWRDQHQGZKHQWKHUHLVQRIXQFWLRQVRUFRPPDQGVWRH[HFXWH z 7KHUH DUH W\\SHV RIIXQFWLRQV LQ &7KH\\ DUH /LEUDU\\ IXQFWLRQV 8VHU GHILQHG IXQFWLRQV  .H\\:RUGV$EEUHYLDWLRQV z )XQFWLRQGHFODUDWLRQ$IXQFWLRQGHFODUDWLRQWHOOVWKHFRPSLOHUDERXWDIXQFWLRQ VQDPH UHWXUQ W\\SH DQG SDUDPHWHUV$IXQFWLRQ GHILQLWLRQSURYLGHV WKH DFWXDO ERG\\ RI WKHIXQFWLRQ z )XQFWLRQ&DOO,IDIXQFWLRQGRHVQRWUHWXUQDYDOXH RULIZHDUHQRWLQWHUHVWHGLQWKH YDOXHUHWXUQHGE\\LW DIXQFWLRQFDOOWDNHVWKHIRUPRID&VWDWHPHQWLQZKLFKWKHIXQFWLRQ FDOOLV IROORZHG E\\ D VHPLFRORQ DV VKRZQ EHORZ SULQWI (QWHU YDOXHV RI D DQG E   VFDQI GG D E  z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` F UHWXUQW\\SH DUJXPHQWW\\SH IXQFWLRQQDPH G DOORIWKHPHQWLRQHG  7KHYDOXHREWDLQHGLQWKHIXQFWLRQLVJLYHQEDFNWRPDLQE\\XVLQJBBBBBBBBNH\\ZRUG D UHWXUQ E VWDWLF F QHZ G YRODWLOH  :KLFKRIWKHIROORZLQJIXQFWLRQGHFODUDWLRQLVLOOHJDO\" D LQWEKN LQW  E LQWEKN LQWD  F LQWEKN LQW LQW>@  G DOORIWKHPHQWLRQHG &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

&RPSXWHU3URJUDPPLQJ  :KLFKLVDQLQGLUHFWLRQRSHUDWRUDPRQJWKHIROORZLQJ\" D E  F ! G   :KDWZLOOEHWKHRXWSXWRIWKHIROORZLQJ&FRGH\" LQFOXGHVWGLRK! LQWPDLQ ^ LQWL  YRLG S  L SULQWI G?Q LQW S  UHWXUQ ` D &RPSLOHWLPHHUURU E 6HJPHQWDWLRQIDXOWUXQWLPHFUDVK F  G 8QGHILQHGEHKDYLRXU $QVZHUV  D  D  G  E  D  5HIHUHQFHV  KWWSVEHJLQQHUVERRNFRPFIXQFWLRQVH[DPSOHV  KWWSVZZZSURJUDPL]FRPFSURJUDPPLQJFIXQFWLRQV  KWWSVSXEOLFDWLRQVJEGLUHFWFRXNFBERRNWKHFERRNSGI  KWWSVSK\\QWQXHGXWZaFFKHQFWXWRUSGI ˆˆˆ &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0

3RLQWHUV  81,7 32,17(56 6WUXFWXUH  /HDUQLQJ2EMHFWLYHV  ,QWURGXFWLRQ  )XQGDPHQWDOVRI3RLQWHU  3RLQWHU9DULDEOHV  5HIHUHQFLQJDQG'HUHIHUHQFLQJ  3RLQWHU$ULWKPHWLF  8VLQJ3RLQWHUVZLWK$UUD\\V  8VLQJ3RLQWHUVZLWK6WULQJV  $UUD\\VRI3RLQWHUV  3RLQWHUVDV)XQFWLRQ$UJXPHQWV  )XQFWLRQV5HWXUQLQJ3RLQWHUV  6XPPDU\\  .H\\:RUGV$EEUHYLDWLRQV  /HDUQLQJ$FWLYLW\\  8QLW(QG4XHVWLRQV 0&4DQG'HVFULSWLYH  5HIHUHQFHV  /HDUQLQJ2EMHFWLYHV $IWHUVWXG\\LQJWKLVXQLW\\RXZLOOEHDEOHWR z 'HVFULEHWKHFRQFHSWVRISRLQWHUV z (ODERUDWHWKHSRLQWHUWRSRLQWHUFRQFHSW &8 ,'2/ 6(/) /($51,1* 0$7(5,$/ 6/0


Like this book? You can publish your book online for free in a few minutes!
Create your own flipbook