,,ii  #aag? ,,congress  #a/ ,session    
,s4 #bade  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #ba1 #bjba,mr4   
,re$ introduc$ ! foll[+ bill2 :i* 0 read
 twice & ref]r$ to ! ,committee on      
,bank+1 ,h\s+1 & ,urban ,affairs  ,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 ( #bjba4 
#b4 ,f9e1 p5alty1 & settlem5t           
acc\ntability  7a7 ,def9itions ,9 ?is   
section-- 7#a7 ! t]m acc\ntable         
executive-- 7,a7 means an individual =  
:om disclosure is requir$ "u section    
#bbi4djb7;a77#c7 ( title #ag1 ,code (   
,f$]al ,regulations2 &  7,b7 includes   
any o!r employee ( a report+ company )  
respect to :om ! ,commission det]m9es   
disclosure "u subsection 7b77#a7 is     
appropriate2  7#b7 ! t]m ,commission    
means ! ,securities & ,ex*ange          
,commission2  7#c7 ! t]m cov]$ f9e or   
simil> p5alty-- 7,a7 means any am\nt to 

:i* section #afb7;f7 ( ! ,int]nal       
,rev5ue ,code ( #aihf applies2 &  7,b7  
includes any f9e1 p5alty1 or paym5t--   
7i7 t is paid or incurr$ by a report+   
company2 &  7ii7 ) respect to :i* !     
,commission det]m9es disclosure "u      
subsection 7b7 %\ld be requir$2  7#d7 ! 
t]m issu] has ! mean+ giv5 ! t]m 9      
section #c7;a7 ( ! ,securities ,ex*ange 
,act ( #aicd 7#ae ,u4,s4,c4 #gh;c7a772 &
  7#e7 ! t]m report+ company means an   
issu]-- 7,a7 ! securities ( :i* are     
regi/]$ "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    

#ghm1 #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+ company has e/abli%$ proc$ures  
to rec\p f comp5sation paid to1 & to    
)hold f future comp5sation paid to1 any 
acc\ntable executive all or a portion ( 
! co/ ( any cov]$ f9e or simil> p5alty t
 has be5 paid or incurr$ 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*        
acc\ntable executive "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 !     
report+ company has n done s4