,,ib  ,union ,cal5d> ,no4 #bfh  #aaf?   
,,congress  #a/ ,session  ,h4 ,r4 #dcbj 
,report ,no4 #aaf-ccg  ,,9 ,,! ,,h\se   
,,( ,,repres5tatives  ,septemb] #ab1    
#bjai ,ms4 ,port] introduc$ ! foll[+    
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices  ,decemb] #aa1 #bjai 
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$ ,/rike out
 all aft] ! enact+ clause & ins]t ! "p  
pr9t$ 9 italic ,= text ( introduc$ bill1
 see copy ( bill z introduc$ on         
,septemb] #ab1 #bjai  ,a ,,bill  ,to    
ensure t irresponsible corporate        
executives1 r ?an %>ehold]s1 pay f9es & 
p5alties4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,corporate ,managem5t      
,acc\ntability ,act ( #bjai4  #b4 ,f9e1 
p5alty1 & settlem5t acc\ntability  7a7  
,def9itions ,9 ?is section--  7#a7 ! t]m
 ,commission means ! ,securities &      
,ex*ange ,commission2  7#b7 ! t]m cov]$ 
f9e or simil> p5alty--  7,a7 means a f9e
 or simil> p5alty1 z t t]m is def9$ 9   

,treasury ,regulation section           
#a4afb-ba7;b72 &  7,b7 includes any f9e 
or simil> p5alty-- 7i7 t is paid by a   
report+ company2 &  7ii7 ) respect to   
:i* ! ,commission det]m9es disclosure "u
 subsection 7b77#a7 is appropriate2     
7#c7 ! t]m issu] has ! mean+ giv5 ! t]m 
9 section #c7;a7 ( ! ,securities        
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#gh;c7a772  7#d7 ! t]m nam$ executive   
(fic]-- 7,a7 means an individual = :om  
disclosure is requir$ "u section        
#bbi4djb7;a77#c7 ( title #ag1 ,code (   
,f$]al ,regulations2 &  7,b7 includes   
any o!r employee ( a report+ company )  
respect to :om ! ,commission det]m9es   
disclosure "u subsection 7b77#a7 is     
appropriate2 &  7#e7 ! t]m report+      
company means an issu]-- 7,a7 !         
securities ( :i* are regi/]$ "u section 
#ab ( ! ,securities ,ex*ange ,act (     
#aicd 7#ae ,u4,s4,c4 #ghl72 or  7,b7 t  
is requir$ to file reports "u section   
#ae7;d7 ( ! ,securities ,ex*ange ,act ( 
#aicd 7#ae ,u4,s4,c4 #gho7d774  7b7     

,requirem5t ,to issue rules ,n lat] ?an 
#cfj days aft] ! date ( enactm5t ( ?is  
,act1 ! ,commission %all issue f9al     
rules to require ea* report+ company1 9 
ea* annual report submitt$ "u section   
#ac or section #ae7;d7 ( ! ,securities  
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#ghm & #gho7d771 or 9 ea* proxy /atem5t 
fil$ pursuant to section #ad7;a7 ( !    
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #ghn7a77 = an annual meet+ (  
%>ehold]s1 to--  7#a7 disclose :e!r !   
report+ company1 9 ord] to align !      
inc5tives ( ^? manag+ ! report+ company 
) ! inc5tives ( ! %>ehold]s ( ! report+ 
company1 has e/abli%$ proc$ures to rec\p
 f comp5sation paid to1 & to )hold f    
future comp5sation paid to1 any nam$    
executive (fic] all or a portion ( ! co/
 ( any cov]$ f9e or simil> p5alty t has 
be5 paid by ! report+ company2  7#b7 if 
! report+ company has e/abli%$ proc$ures
 describ$ 9 p>agraph 7#a7-- 7,a7 provide
 a description ( ^? proc$ures2 &  7,b7  
disclose ! am\nt t ! report+ company has

 rec\p$ f ea* nam$ executive (fic] "u ^?
 proc$ures dur+ ea* ( ! #c mo/ rec5t    
fiscal ye>s2 &  7#c7 if ! report+       
company has n e/abli%$ proc$ures        
describ$ 9 p>agraph 7#a71 provide an    
explanation ( :y no su* proc$ures are   
necess>y = ! b5efit ( ! %>ehold]s ( !   
report+ company4  ,decemb] #aa1 #bjai   
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$