$UW1RZ0DWWKHZ%DUQH\2772VKDIW_7DWH

:KDW
VRQ
:KDW
VRQ

7DWH%ULWDLQ

6LJQLQ
([KLELWLRQV

Art Now: Matthew Barney: OTTOshaft

7DWH%ULWDLQ([KLELWLRQ
0D\-XQH
0DWWKHZ%DUQH\VZRUNFRPELQHVVFXOSWXUHSHUIRUPDQFHDQGYLGHR,QLQVWDOODWLRQVKHKDVEHHQPDNLQJ
RYHUWKHSDVWILYH\HDUVKHLQWURGXFHVUHIHUHQFHVIURPGLYHUVHFXOWXUDODFWLYLWLHV7KHVHUDQJHIURPSK\VLFDO
SXUVXLWVVXFKDVIRRWEDOOFOLPELQJDQGZUHVWOLQJWRWKHVNLOOVRIUROHSOD\LQJDQGGUHVVLQJXSDVVRFLDWHGZLWK
DFWLQJRUPRGHOOLQJ,Q%DUQH\VZRUNG\QDPLFSHUIRUPDQFHVDUHLQWHQGHGWREHVHHQDVWKHH[WHUQDO
HTXLYDOHQWRIYLWDOSURFHVVHVVXFKDVGLJHVWLRQR[\JHQDWLRQRUPXVFOHJURZWKWKDWWDNHSODFHZLWKLQWKH
ERG\,Q%DUQH\VZRUNGLYHUVHDFWLYLWLHVDUHFRPELQHGLQKLJKO\FKDUJHGILFWLRQDOQDUUDWLYHV7DNLQJDQ
H[WUHPHYLHZRQZKDWFRQVWLWXWHVDUWLVWLFSUDFWLFH%DUQH\KDVHYROYHGDYLVXDOYRFDEXODU\WKDWH[SORUHVWKH
VWULYLQJRIWKHERG\DJDLQVWLWVLQEXLOWOLPLWDWLRQVUHIOH[HVDJHLQJSURFHVVHVDQGPHPRULHV
2WWRVKDIWLVRQHRIDWULORJ\RIZRUNVFDOOHGWKH-LP2WWR6XLWHQDPHGDIWHU-LP2WWRDQ$PHULFDQIRRWEDOO
SOD\HURIWKHV:KLOHIXOO\VHOIFRQWDLQHG2WWRVKDIWLVWKHPLGGOHVHFWLRQRFFXUULQJDWKDOIWLPHLQWKH
WULORJ\$OWKRXJK2WWRVKDIWZDVDOUHDG\SODQQHGZKHQWKHRWKHUWZRSDUWVZHUHVKRZQLQLWZDVPDGH
ODWHULQWKHVXPPHURI7KH-LP2WWR6XLWHFRQVWLWXWHVDQH[WHQGHGQDUUDWLYHEDVHGRQWKHFKDUDFWHU
DQGSK\VLRORJ\RI-LP2WWR,WEHJDQZLWKDQH[KLELWLRQLQ/RV$QJHOHVZLWK2WWRSOD\LQJLQZKLWHDZD\VWULS
DQGZDVFRPSOHWHGLQD1HZ<RUNJDOOHU\ZLWK2WWRZHDULQJWKHEODFNKRPHVWULSLQ%DUQH\VKRPHWRZQ
2WWRVKDIWFRQVLVWVRIDYDULHW\RIRUJDQLFPDWHULDOVDQGSODVWLFREMHFWVDQGWKUHHYLGHRILOPVZKLFKDUH
EURDGFDVWFRQWLQXRXVO\RQFHLOLQJPRXQWHGPRQLWRUV$VHTXHQFHRISX]]OLQJVRPHWLPHVIUHQHWLFDFWLRQVDUH
UHFRUGHGLQWKHYLGHRVZKLFKDUHFDOOHG2WWRGURQH2WWRVKDIWDQG$XWRGURQH2WWRVKDIWZDVRULJLQDOO\
H[KLELWHGXQGHUWKHFXUYLQJH[LWDQGHQWU\UDPSVRIDQXQGHUJURXQGFDUSDUNLQ.DVVHOLQ*HUPDQ\GXULQJ
'RFXPHQWDWKHLQWHUQDWLRQDOH[KLELWLRQRIFRQWHPSRUDU\DUWWKDWWDNHVSODFHWKHUHHYHU\ILYH\HDUV
%DUQH\KDVDGDSWHGWKHZRUNIRUGLVSOD\LQWKH$UW1RZURRPDWWKH7DWHZKHUHLWLVVKRZQLQDVLQJOHVSDFH
GLYLGHGE\DQDVFHQGLQJZDOO9LVLWRUVIROORZDVHPLFLUFXODUURXWHDURXQGWKHWZRVHFWLRQVRIWKHZRUN
,QVWHDGRIDFXUYLQJVSDFHIRUWKHZRUN%DUQH\KDVQRZFUHDWHGDFXUYLQJSDWKIRUYLVLWRUV7KHIORRUVDQG
ZDOOVRIWKHURRPDUHOLQHGZLWKDZKLWHYLQ\OFORWK
2WWRVKDIWSURSRVHVVHYHUDOLQWHUZHDYLQJQDUUDWLYHVWKDWDUHPDQLIHVWHGLQDVHWRIREMHFWVFKDUDFWHUVDQG
LGHQWLWLHV7KHVHQDUUDWLYHVDUHFRQQHFWHGWKURXJKWKHEL]DUUHEXWDSSRVLWHLPDJHRIWKHEDJSLSHV3UHVHQWLQ
2WWRVKDIWDVDSURSDQGDVDPHWDSKRUIRUSURFHVVHVZLWKLQWKHERG\EDJSLSHVFRQVWLWXWHDOHLWPRWLI
UHFXUULQJWKURXJKRXWWKHVWUXFWXUHDQGLPDJHU\RIWKHZRUN
,QWKHYLGHRILOPV%DUQH\KDVFUHDWHGULFKO\DOOXVLYHILFWLRQZKLFKEOHQGVLQDZHERIPHWDSKRUDQG
DVVRFLDWLRQWKHVFLHQFHRIERG\EXLOGLQJWKHJDPHRI$PHULFDQIRRWEDOOZLWKLWVPRYHVIRUPDWLRQVDQGILHOG
KWWSZZZWDWHRUJXNZKDWVRQWDWHEULWDLQH[KLELWLRQDUWQRZPDWWKHZEDUQH\RWWRVKDIW





$UW1RZ0DWWKHZ%DUQH\2772VKDIW_7DWH

RISOD\DQGWKHLQWHUQDOIXQFWLRQLQJRIWKHERG\&RQQHFWLRQVEHWZHHQWKHVHGLYHUVHHOHPHQWVDUHPDGHE\
DQHFOHFWLFFDVWRIFKDUDFWHUVVRPHRIZKRPDUHQDPHGDQGSOD\DSDUWLQWKHDFWLRQ2WKHUVGRQRWDSSHDU
LQWKHYLGHRVEXWFDQEHLGHQWLILHGWKURXJKFHUWDLQFKDUDFWHULVWLFV9LHZHGDVDWRWDOLW\WKH\DOOFRQVWLWXWH
GLIIHUHQWIDFHWVRI-LP2WWRWKHFHQWUDOFKDUDFWHULQ2WWRVKDIW
([WHUQDOFRQIOLFWVDUHFRQYH\HGLQWKHYLGHRVE\WKHFRPSHWLWLYHQHVVRIWKHIRRWEDOOJDPHLGHQWLILDEOHHYHQ
ZKHQLWVWUDLQLQJURXWLQHVDQGWRXFKGRZQUXQVDSSHDUWRRYHUODSEL]DUUHO\ZLWKDGUHVVSDUDGHRIWKH
6FRWWLVK%ODFN:DWFK2IHTXDOLPSRUWDQFHWRWKHVHYLVLEOHGUDPDVKRZHYHUDUHWKHXQVHHQERGLO\
SURFHVVHVWKDWUHIOHFWWKHVWUHVVIXOSK\VLFDOGHPDQGVPDGHRQWKHDFWLYHERG\7KHDEVRUSWLRQRIQXWULHQWV
WKHLUPHWDEROLFFRQYHUVLRQKRZIDUWKHERG\FDQEHSXVKHGDUHDOOYLWDOQDUUDWLYHHOHPHQWVLQ2WWRVKDIW
3LOOVPDGHRIJOXFRVHVXFURVH9DVHOLQHWDSLRFDPHULQJXHFRQWDLQLQJSURWHLQDQGSRXQGFDNHPDGHRI
FDUERK\GUDWHDUHWKURZQDQGFDXJKWOLNHIRRWEDOOVLQWKH2WWRGURQHYLGHR3DUWO\VXJJHVWLQJDJDPHLQ
SURJUHVVWKH\DOVRUHODWHWRVXFFHVVLYHVWDJHVRIPHWDEROLFFRQYHUVLRQ7KHIXOO\SUHSDUHGDWKOHWLF
SK\VLTXHDWWDLQHGDIWHUVXVWDLQHGLQWDNHRIFDUERK\GUDWHVUHTXLUHVERWKSURWHLQDQGWKHSXUHHQHUJ\
SURYLGHGE\JOXFRVH
%DUQH\LQWURGXFHVWKHQXPEHUHGVKLUWZRUQE\-LP2WWRDVDV\PEROZKLFKFRQQHFWVWKHH[WHUQDO
DFWLYLWLHVRI2WWRKLVUXQQLQJFDWFKLQJDQGWDFNOLQJZLWKWKHERG\VLQWHUQDOZRUNLQJV'RXEOH]HURFDQEH
XQGHUVWRRGWRUHSUHVHQWWZRRULILFHVWKHPRXWKDQGUHFWXPWKDWRSHQWKHERG\WRWKHRXWVLGHDVSRLQWVRI
LQWDNHIRUIRRGDQGIRUZDVWHH[FUHWLRQ7KHVHSURFHVVHVLQWKHERG\VLQWHUQDOSDVVDJHVDUHMXVWDVFHQWUDO
WR2WWRVKDIWDVLWVYLVLEOHGUDPDV
2WWRVKDIWLVGLYLGHGLQWRWZRSDUWVRUVXLWHVZKLFKWRJHWKHUFRQVWLWXWHDIRUPRISOD\LQJILHOG7KHREMHFWV
WKH\FRQWDLQDUHXVHGDVSURSVE\WKHFKDUDFWHUVLQWKHYLGHRVHTXHQFHVZKRLQFOXGHYHU\SURPLQHQWO\WKH
DUWLVWKLPVHOI2QHVXLWHLVQDPHG$,'DYLVDIWHUDOHJHQGDU\$PHULFDQIRRWEDOOFRDFKIRUWKH2DNODQG
5DLGHUVWKHWHDPIRUZKLFKZKRP-LP2WWRSOD\HG7KHRWKHUVXLWHLVQDPHGDIWHUWKHVVFUHHQDFWUHVV
-D\QH0DQVILHOG
$FFRUGLQJWR%DUQH\WKHVXLWHVUHSUHVHQWFRQWUDVWLQJSK\VLFDOFRQGLWLRQV2WWRVWUDLQVWRZDUGVRQHRUWKH
RWKHUDQGWRJHWKHUWKH\GHILQHWKHSDUDPHWHUVRIWKHYDULRXVGUDPDVSOD\HGRXWLQ2WWRVKDIW7KH)DVFLD
-D\QH0DQVILHOG6XLWHHPERGLHVDFRQGLWLRQRIK\SR[LD,WVSHQGDQWWKH$,'DYLV6XLWHGHVFULEHVWKH
FRQGLWLRQRIK\SHUWURSK\%RWKDUHPHGLFDOWHUPVK\SR[LDLVDGHILFLHQF\RIR[\JHQDQGK\SHUWURSK\PHDQV
WKHXQQDWXUDOHQODUJHPHQWRIRUJDQV$OODFWLRQVZLWKLQ2WWRVKDIWUHSUHVHQWDWHQVLRQDQGRVFLOODWLRQEHWZHHQ
WKHVHFRQGLWLRQV%RWKFRQGLWLRQVK\SR[LDDQGK\SHUWURSK\UHVXOWLQDWHPSRUDU\RUSHUPDQHQWUHVKDSLQJRI
WKHERG\DQGUHIOHFWWKHVLPXOWDQHRXVSURFHVVHVRIGHJHQHUDWLRQDQGUHJHQHUDWLRQWKDWRFFXUFRQVWDQWO\LQ
ERG\WLVVXH7KHDWWDLQPHQWRIHLWKHUFRQGLWLRQZRXOGEULQJ2WWRVKDIWVQDUUDWLYHVWRDFRQFOXVLRQ
7KHVHPHGLFDOUHIHUHQFHVDUHLQWHUSUHWHGLQDFXOWXUDOFRQWH[W
-D\QH0DQVILHOGZDVZHOONQRZQIRUKHUKRXUJODVVILJXUHDQGSURPLQHQWEXVW+HUSRVWXUHUHOLHGRQDQ
H[SDQGHGFKHVWVXSSRUWHGE\WKHGLDSKUDJPDQGWDNHQWRDEVXUGOHQJWKVRQLQKDOLQJDQGKROGLQJKHU
EUHDWK)DVFLDLVDGHVFULSWLRQRIWKHPHDQVRIVXSSRUWWKHPXVFOHZDOOWKHGLDSKUDPVHSDUDWLQJLQWHUQDO
FKDPEHUVRIWKHERG\RUSHUKDSVDQXSOLIWLQJFRUVHW$,'DYLVWKHIRRWEDOOFRDFKDIWHUZKRPWKHVHFRQG
VXLWHLVQDPHGUHSUHVHQWVDQRWKHUH[WUHPHLQKLVVWULYLQJWRFUHDWHWKHIXOO\KRQHGSK\VLTXH$WKOHWHV
KWWSZZZWDWHRUJXNZKDWVRQWDWHEULWDLQH[KLELWLRQDUWQRZPDWWKHZEDUQH\RWWRVKDIW





$UW1RZ0DWWKHZ%DUQH\2772VKDIW_7DWH

H[KRUWHGE\WKHLUFRDFKHVH[HUFLVHWRLQFUHDVHPXVFOHVL]HRUGHYHORSVSHFLILFJURXSVRIPXVFOHVDLGHGE\
WKHFRQVXPSWLRQRIQXWULHQWV
)DVFLD-D\QH0DQVILHOG6XLWHDQG$,'DYLV6XLWHSURYLGHFRQWUDVWLQJSRLQWVRIWHQVLRQIRUWKHPHWDEROLF
SURFHVVHVDQGSK\VLFDOSHUIRUPDQFHRI2WWR7KHVHFRPSOH[LQWHUDFWLQJVWRULHVDURXQGWKHDFWLYHERG\DUH
FRQYH\HGWKURXJKWKHXQH[SHFWHGWKRXJKDSWPHWDSKRURI6FRWWLVKEDJSLSHV%DJSLSHEHOORZVDUH
WUDGLWLRQDOO\PDGHIURPDQLQWHUQDORUJDQWKHVWRPDFKIURPZKLFKSURWUXGHDVHWRIGURQHVDQGDVKDQWHU
IRUSOD\LQJPHORGLHV7KHLUYLVLEOHDQGPHWDSKRULFDOSUHVHQFHLQ2WWRVKDIWSHUPHDWHVWKHZRUNDQGVKDSHV
RXUXQGHUVWDQGLQJRILW
5XQQLQJIURPWKHORFNHUURRPDWWKHEHJLQQLQJRIWKH2WWRGURQHYLGHR2WWRVSOLWVLQWRWKUHHHFKRLQJWKH
QXPEHURIGURQHSLSHVDVWKHYLGHRFXWVIURPDILJXUHGUHVVHGLQZKLWHVWULSWRRQHZHDULQJEODFNVWULSWKHQ
RQH,QDNLOW2WWRLVWUDQVPXWHGLQWRWKUHH6FRWVZHDULQJWKHWDUWDQRIWKH%ODFN:DWFKZKRSXVKDWDFNOLQJ
VOHGJHDSLHFHRIWUDLQLQJDSSDUDWXVDURXQGWKHEDVHPHQWFDUSDUN:HFRXOGLQWHUSUHWWKHXQGHUJURXQGFDU
SDUNZLWKVKDIWVDQGWRZHUVOHDGLQJXSZDUGVIURPLWOLNHGURQHSLSHVDVDJLJDQWLFLQVWUXPHQWVHWLQWKH
EHOO\RIWKHHDUWKZLWKWKHVHFKDUDFWHUVPLFURVFRSLFDOO\VSHHGLQJWKURXJKWKHRUJDQLVP/DWHULQ2WWRGURQH
%DUQH\2WWRVFDOHVWKHVKDIWVDQGWRZHUVRIWKHEXLOGLQJVDQGEORFNVWKHPZLWKGLIIHUHQWRUJDQLFPDWHULDOV
9DVHOLQHWDSLRFDHWF`WKDWUHSUHVHQWSURJUHVVLYHVWDJHVRIWKHPHWDEROLFSURFHVV
,QZKDWHYHUIRUPWKH\DSSHDUWKHEDJSLSHGURQHVUHPDLQFODPSHGSODFLQJWKHEHOORZVRUE\DQDORJ\
RUJDQVZLWKLQWKHERG\RI2WWRXQGHUSUHVVXUH7KHVHDUHWKHVWUHVVHVRIWKHERG\LQWUDLQLQJRUWKHERG\
GXULQJWKHWHQVHVHFRQGVEHIRUHWKHEDOOLVSXQWHGLQWRSOD\6XFKSUHVVXUHVSULPHWKHERG\IRULPPRUWDOLW\
WKURXJKVXEOLPHSHUIRUPDQFHRUSURSHOLWWRZDUGVFROODSVHWKURXJKLQMXU\DQGUXSWXUH-LP2WWRZDVIDPRXV
IRUHQGLQJKLVIRRWEDOOFDUHHUSOD\LQJZLWKSURVWKHWLFNQHHV
,Q2WWRVKDIWWKHQDUUDWLYHWKUXVWLVGLUHFWHGWRZDUGVWKHVHSRVVLEOHDQGSRVVLEO\FRQIOLFWLQJFRQFOXVLRQV
,QIDFW%DUQH\IRUHVWDOOVSUHFLVHO\WKLVPRPHQWRIUHOHDVHDQGSUHYHQWVDFORVXUHRIWKHQDUUDWLYH7KH
WUDSSHGDLULQWKHEHOORZVQHYHUHVFDSHVWKHSLSHVQHYHUSOD\WKHJDPHQHYHUEHJLQV$QDWWHPSWLQ
2WWRGURQHWRNLFNWKHEHOORZVWHHGXSOLNHDIRRWEDOOLVIUXVWUDWHGDVWKHNLOWHGNLFNHULVFUXGHO\SXVKHGDVLGH
7KHH[FLWHPHQWRIH[KRUWDWLRQDQGSXUVXLWWKHDQWLFLSDWLRQRIWKHRSHQLQJPRYHVILQGQRXOWLPDWHUHVROXWLRQ
%H\RQGWKHWKUHVKROGRIWKHK\SR[LDK\SHUWURSK\VHFWLRQVLQ2WWRVKDIWVILHOGRISOD\LVZKDW%DUQH\
GHVFULEHVXVLQJIRRWEDOOWHUPLQRORJ\DVWKH]RQHRIKXEULV,QP\WKRORJ\KXEULVLVZKHQKXPDQVRYHUUHDFK
WKHPVHOYHVEHIRUHWKHJRGVDQGDUHSXQLVKHGIRUWKHLULQVROHQFH7KHQDUUDWLYHVZLWKLQ2WWRVKDIWVWDOOEHIRUH
WKLVWKUHVKKROGLVFURVVHGWKHSHQWXSHQHUJ\LVQRWUHOHDVHG,QVWHDGWKHERG\KHUQLDWHV3UHVHQWHGDV
JODVVHQFORVHGPHULQJXHREMHFWVKDQJLQJDERYHWKHHQWUDQFHWRWKHLQVWDOODWLRQKHUQLDVV\PEROLVHWKH
VWUHQJWKRIWKHERG\XQGHUPLQHGLWVSRWHQWLDOXQIXOILOOHG
%DUQH\SURSRVHVDKLGGHQIDFHWZLWKLQ2WWRVFKDUDFWHUZKLFKIXUWKHUUHVLVWVWKHVWDWHRIKXEULV$OWKRXJKQRW
VSHFLILFDOO\QDPHGWKLVDVSHFWRI2WWRVFKDUDFWHULVHPERGLHGLQ+DUU\+RXGLQLWKHHVFDSHDUWLVW%HFDXVH
RIKLVFUHDWLYHUHVSRQVHWRH[WHUQDOERQGVDQGKLVLQWLPDWHDZDUHQHVVRIWKHERG\VPLQXWHVWSRVVLELOLWLHVIRU
PDQRHXYUH%DUQH\FDOOVKLPWKHFKDUDFWHURISRVLWLYHUHVWUDLQW+RXGLQLVDSSDUHQWDUWLVWU\ZDVWRHVFDSH
LQWRWKHERG\UDWKHUWKDQEXUVWLQJRXWRIKLVVWUDLWMDFNHWFKDLQVRUIDPRXVO\DVHDOHGZDWHUFKDPEHU
%DUQH\HTXDWHVWKLVPRWLRQLQZDUGVWRDUHWXUQWRDFORVHGV\VWHP%\UHVKDSLQJDQGZLWKGUDZLQJLQWRWKH
ERG\LQDKHUPHWLFVSLUDO+RXGLQLVHHPLQJO\GHILHGGHDWKWREHFRQWLQXDOO\UHERUQLQDVWDWHRISXUHHQHUJ\
KWWSZZZWDWHRUJXNZKDWVRQWDWHEULWDLQH[KLELWLRQDUWQRZPDWWKHZEDUQH\RWWRVKDIW





$UW1RZ0DWWKHZ%DUQH\2772VKDIW_7DWH

,QHDUOLHUZRUNV%DUQH\FRQFHLYHGWKLVILJXUHRISRVLWLYHUHVWUDLQWDVHPEU\RQLFZLWKLWVHQHUJLHVGLUHFWHG
SXUHO\WRZDUGVJURZWK:LWKLQWKHLFRQRJUDSK\RI2WWRVKDIWWKHSK\VLFDOO\PDWXUH-LP2WWRGHVLUHVEXWFDQ
RQO\GHVLUHUDWKHUWKDQH[SHULHQFHDSK\VLFDOUHJUHVVLRQWRWKLVSUHQDWDOVWDWHRISXUHJURZWK
7KHYLJRURXVQDUUDWLYHVDQGYLVFHUDOPHWDEROLFSURFHVVHVLQ2WWRVKDIWIROORZ2WWRVDWWHPSWVWRUHGHILQHWKH
ERG\E\H[HUWLQJLWDQGDJJUHVVLYHO\RSHQLQJLWXS&RQIOLFWLQJIDFHWVZLWKLQ-LP2WWRSOD\HGRXWE\%DUQH\
WKH6FRWVPHQ$,'DYLVDQGVXJJHVWHGE\TXDOLWLHVLQ-D\QH0DQVILHOGDQG+DUU\+RXGLQLFRQVWLWXWHD
VLQJXODULQVWDOODWLRQRISHFXOLDUG\QDPLFHOHJDQFHWKDWLVDVSHUSOH[LQJDVLWLVPHVPHULVLQJ

%LRJUDSK\
0DWWKHZ%DUQH\ERUQLQ6DQ)UDQFLVFR&DOLIRUQLD%$<DOH8QLYHUVLW\1HZ+DYHQ&RQQHFWLFXWLQ
/LYHVDQGZRUNVLQ1HZ<RUN
7DJV

,QVWDOODWLRQ 3HUIRUPDQFH 6FXOSWXUH 9LGHRDUW $UW1RZ

KWWSZZZWDWHRUJXNZKDWVRQWDWHEULWDLQH[KLELWLRQDUWQRZPDWWKHZEDUQH\RWWRVKDIW