Page:Emergency Economic Stabilization Act of 2008.djvu/31

 O:kiYOkiYO08C04.xml 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 31 action, the SecretaT shall require that the financial institution meet appropriate standards for executive compensation and corporate governance. The stand- ards required under this subsection shall be effective for the duration of the period that the SecretroT holds an equity or debt position in the financial in- stitution. (2) CRTERk. The standards required under this subsection shall include (A) limits on compensation that exclude in- centives for executive officers of a financial in- stitution to take unnecessmT and excessive risks that threaten the value of the financial in- stitution during the period that the SecretroT holds an equity or debt position in the financial institution; (B) a provision for the recoveT by the fi- nancial institution of any bonus or incentive compensation paid to a senior executive officer based on statements of earnings, gains, or other criteria that are later proven to be materially inaccurate; and (C) a prohibition on the financial institu- tion making any golden parachute payment to its senior executive officer during the period

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