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HPQ » Topics » 5-Recoup Unearned Management Bonuses

This excerpt taken from the HPQ DEF 14A filed Jan 23, 2006.

5—Recoup Unearned Management Bonuses

        RESOLVED:    Recoup Unearned Management Bonuses. Shareholders request our board to adopt a policy whereby, in the event of a significant restatement of financial results or significant extraordinary write-off, our board will review all bonuses and any other awards that were made to senior executives on the basis of having met or exceeded specific performance targets during the restatement period and will recoup for the benefit of our Company all such bonuses or awards to the extent that the specified performance targets were not achieved and focus on those employees most responsible. This would include that all applicable employment agreements adopt enabling text in an expedited manner as soon as feasibly possible and/or retroactively.

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