Does Cisco have a senior executive compensation recoupment policy, or “clawback” policy?
Cisco has adopted a senior executive compensation recoupment policy. This policy is: In the event of a restatement of incorrect financial results, the Compensation and Management Development Committee (the “Compensation Committee”) will review all cash incentive awards under the Executive Incentive Plan (“bonuses”) that were paid to executive officers (within the meaning of Rule 3b-7 of the Securities Exchange Act of 1934, as amended) for performance periods beginning after July 28, 2007 which occur during the restatement period. If any such bonus would have been lower had the level of achievement of applicable financial performance goals been calculated based on such restated financial results, the Compensation Committee will, if it determines appropriate in its sole discretion, to the extent permitted by governing law, require the reimbursement of the incremental portion of the bonus in excess of the bonus that would have been paid based on the restated financial results.
