展品 97.1
传承 教育公司。
CLAWBACK 政策
I. | 目的 与范围 |
公司的董事会相信,建立并保持强调诚信和责任的企业文化,并加强公司的绩效为本的薪酬哲学,有助于公司和股东的最大利益。因此,董事会通过了这份《收回政策》(以下简称“本《政策》”),在采取适当措施条件下(如下文所定义),规定了对误授薪酬的回收。除非本文另有定义,否则大写字母用语均按照《十三、定义》中所述内容解释。董事会公司的董事会相信,建立并保持强调诚信和责任的企业文化,并加强公司的绩效为本的薪酬哲学,有助于公司和股东的最大利益。因此,董事会通过了这份《收回政策》(以下简称“本《政策》”),在采取适当措施条件下(如下文所定义),规定了对误授薪酬的回收。除非本文另有定义,否则大写字母用语均按照《十三、定义》中所述内容解释。政策公司的董事会相信,建立并保持强调诚信和责任的企业文化,并加强公司的绩效为本的薪酬哲学,有助于公司和股东的最大利益。因此,董事会通过了这份《收回政策》(以下简称“本《政策》”),在采取适当措施条件下(如下文所定义),规定了对误授薪酬的回收。除非本文另有定义,否则大写字母用语均按照《十三、定义》中所述内容解释。
II. | 管理 |
此政策旨在遵守,并应该被解释为与《交易法》第10D条、《交易法》第10D-1条、纽交所美国的上市标准和证券交易委员会的其他法规、规则和指导相一致,在此法规下,以及上市公司普通股的相关证券法规和股票交易所或协会的法规(统称为“上市标准”)。此政策将由董事会的薪酬委员会(“美国证券交易委员会”)下,以及其普通股被列入的股票交易所或协会的相关证券法规和法规(“普通股”)。此政策将由董事会的薪酬委员会(“上市标准”)的其中委员会”).
所有决定均由委员会做出,且具有最终且具约束力。此外,公司应按照上市标准提交有关这项政策的所有披露。委员会现在有权力和权威来执行这项政策的条款和条件,并使用该等公司认为适当的任何和所有资源来追讨适用于此政策的任何多余补偿。
III. | 讨论 主管 |
此政策适用于公司现任和前任被覆盖高管,按照委员会根据上市标准确定的标准。
IV. | 事件 触发本政策下的回收 |
董事会或委员会将需要追索任何受限高管在前三(3)个完成的财政年度(连同由于公司过渡到不同财政年度计算日期而导致的不足九(9)个月的临时短财政年度)期间所收到的任何多余报酬,这是指公司被认定为(根据随后的句子确定)需要准备涵盖会计重编的日期(「三年回收期」),无论受限高管对于涵盖会计重编有任何过失、不当行为或责任。对于前述句子,公司被认为需要在以下情况之一即时准备涵盖会计重编:(A)董事会或董事会相关委员会,或公司授权采取此举措的董事会不需要行动时,采纳或合理应该得出结论,即公司需要准备涵盖会计重编的日期;或(B)法院、监管机关或其他合法授权机构指示公司准备涵盖会计重编的日期(每个均为“引发事件”).
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V. | 超额 补偿:应予追回之金额 |
应恢复的赔偿金额为受保人收取的赔偿金额超过基于重申金额计算的赔偿金额之差额,由委员会确定。根据本政策,赔偿将在达到任何适用的财务报告措施的财政年度内被视为“收取”,即使该赔偿的付款、授予或发放发生在该财政年度结束后。根据本政策要求追回的金额将基于税前计算。赔偿金的收取日期取决于该赔偿金奖励的条款。例如:
a. | 如果授予的补偿奖励,无论全部或部分,是基于对财务报告控制项的满足,则该奖励将被视为在该控制项被满足的会计年度中收到。 授予 如果授予的股权补偿奖励的发生时 满足; | |
b. | 如果授予的股权补偿奖励的发生 授予 则该奖励将被视为在该控制项被满足的财政年度中收到。 only 当财务报告措施绩效条件达成时,则奖励将被视为在该财政期间收到 授权; | |
c. | 如果 盈利 如果非股权激励计划奖励的薪酬是基于相关财务报告措施绩效目标的达成,则非股权激励计划奖励将被视为在达成该绩效目标的财政年度收到 满足时并且 | |
d. | 如果 盈利 若补偿金现金奖励的核算是基于财务报告控制项绩效目标的满足,则该现金奖励将被视为在该控制项成就时的财政年度收到 达成. |
特此明了,若受影响的会计重编对所收取报酬的金额之影响无法直接从所受覆盖会计重编的资料中计算出来(例如,若这种重编对公司股价的影响不明确),则该超出的报酬金额应根据委员会对覆盖会计重编对影响报酬所依赖之股价或总股东回报的合理估计来确定。公司应保留有关确定超额金额的文件并提供该文件给纽交所美国分公司(纽交所美国板块”).
VI. | 恢复的方法 |
委员会将以其唯一的判断决定,在此处恢复超额补偿的方法,这些方法可能包括但不限于:
a. | 要求 要求返还先前支付的现金补偿; | |
b. | 寻求 追回因任何股权奖励的授予、行使、结算、出售、转让或其他处置而获得的任何收益; | |
c. | 抵销 从公司应付给受覆盖执行官的任何补偿中冲销已收回的金额; | |
d. | 取消 已授予或未授予的股权奖励; 和/或 | |
e. | 采取 根据委员会决定的法律允许的任何其他补救和追回行动。 |
不管本第VI部分的任何内容以及适用法律,委员会可以根据本政策从在下述有效日期(如下所定义)之前、当日或之后核准、授予、批准、支付或应支付给任何被覆盖高级管理人员的任何获批准、获奖、授予过的报酬金额中追回。
VII. | 不切实际 |
根据该政策,委员会将根据本政策追回任何超额薪酬,除非该追回实施不切实际,由委员会依据上市标准确定。特别明白,只有在以下情况下才会被认为追回不切实际:(A)支付给第三方协助执行该政策的直接费用将超过要追回的金额(在得出任何错误授予的薪酬金额追回将不切实际的结论之前,委员会将做出合理的尝试来追回这些错误授予的薪酬金额,记录这些合理的尝试来追回并将该文件提供给纽交所美国分部);(B)追回将违反本国法律,该法律在2022年11月28日之前已采纳(在根据违反本国法律将追回任何错误授予的薪酬金额是否不切实际的结论之前,委员会应获得本国法律顾问的意见,该意见获得适用于公司普通股交易的国家证券交易所或协会证明是接受的,追回将导致违反的意见,并必须将此意见提供给交易所或协会);或(C)追回可能导致本公司注册员工广泛可获得福利的合格退休计划无法满足26 U.S.C. 401(a)(13)或26 U.S.C. 411(a)以及其颁布的规定。
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VIII. | 其他 回收权;认可 |
委员会可能要求在生效日期后签订的任何雇用协议、股权奖励协议或类似协议,作为享有任何其中好处的条件,要求涵盖高层管理人员同意遵守本政策的条款。本政策下的任何追索权力均为额外措施并非取代公司根据任何类似政策的条款在任何雇用协议、股权奖励协议或类似协议中可能享有的任何其他追索权力或权利,以及公司可能享有的任何其他法律追索权。公司应向每位涵盖高层管理人员提供通知并寻求书面(包括电子邮件)对本政策的确认; 提供当未能提供此类通知或获得该确认时,对于任何涵盖高层管理人员,此政策的适用性或可强制执行性将不受影响。
IX. | 没有 被保障高管的赔偿 |
尽管公司或其联属公司的任何计划、政策或协议赋予赔偿权,但公司不得对任何受保护执行主管赔偿任何超额薪酬损失。此外,公司应禁止支付或报销受保护执行主管为基金可能造成的潜在偿还责任而购买的任何第三方保险的保费。
X. | 赔偿 |
在适用法律允许的范围内,董事会及委员会的每位成员以及任何被指定行使本政策任何部分权限的高级职员或其他员工,均应受到公司的保障和豁免,以免因履行或未履行本政策而导致被强加或合理承担的任何损失、成本、责任或支出,并对他或她在符合本政策的行动或不行动导致的或与之相关的任何索赔、诉讼或诉讼中所遭受的或可能参与的或可能成为一方的,或可能被牵连的任何行动或不行动负责,以及对他或她在满足该等诉讼、诉讼或诉讼中对他或她的判决支付的任何金额予以赔偿。 提供, 但是在他或她亲自处理和辩护相关事项之前,他或她应给予公司机会,该机会由公司自费处理和辩护。前述保障权不得排除这些个人根据公司章程、公司章程、法律或其他规定享有的任何其他应有的保障权,或公司可能具有的对他们进行赔偿或保障的权力。
XI. | 生效 日期 |
This Policy shall be effective as of the date the Policy is adopted by the Board (the “Board Adoption Date”). This Policy shall apply to any Compensation that is received by Covered Executives on or after [IPO DATE] (the “Effective Date”), even if such Compensation was approved, awarded, granted, or paid to Covered Executives prior to the Effective Date or the Board Adoption Date.
XII. | Amendment and Termination; Interpretation |
The Board may amend this Policy from time to time in its sole discretion and shall amend this Policy as it deems necessary to reflect and comply with further regulations, rules and guidance of the SEC and Listing Standards. The Board may terminate this Policy at any time.
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The Committee is authorized to interpret and construe this Policy and to make all determinations necessary, appropriate, or advisable for the administration of this Policy. This Policy is designed and intended to be interpreted in a manner that is consistent with the requirements of the Listing Standards. To the extent there is any inconsistency between this Policy and such regulations, rules and guidance, such regulations, rules and guidance shall control, and this Policy shall be deemed amended to incorporate such regulations, rules and guidance until or unless the Board or the Committee expressly determine otherwise.
This Policy shall be applicable, binding and enforceable against all Covered Executives and their beneficiaries, heirs, executors, administrators or other legal representatives to the fullest extent of the law. For the avoidance of doubt, this Policy shall be in addition to (and not in substitution of) any other clawback policy of the Company in effect from time to time or applicable to any Covered Executive.
XIII. | Definitions |
For purposes of this Policy, the following terms shall have the following meanings:
1. | “Company” means Legacy Education Inc., a Nevada corporation, and its subsidiaries and their successors. | |
2. | “Compensation” means any compensation which was approved, awarded or granted to, or earned by a Covered Executive (A) while the Company had a class of securities listed on a national securities exchange or a national securities association, and (B) on or after the Effective Date (including any award under any short-term or long-term incentive compensation plan of the Company, including any other short-term or long-term cash or equity incentive award or any other payment) that, in each case, is granted, earned, or vested based wholly or in part upon the attainment of any Financial Reporting Measure (i.e., any measures that are determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and any measure that is derived wholly or in part from such measures, including share price and total shareholder return). Compensation may include (but is not limited to) any of the following: |
a. | Annual bonuses and other short- and long-term cash incentives; | |
b. | Stock options; | |
c. | Stock appreciation rights; | |
d. | Restricted shares; | |
e. | Restricted share units; | |
f. | Performance shares; and | |
g. | Performance units. |
3. | “Covered Accounting Restatement” means any accounting restatement of the Company’s financial statements due to the Company’s material noncompliance with any financial reporting requirement under U.S. securities laws. A Covered Accounting Restatement includes any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements (commonly referred to as “Big R” restatements) or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period (commonly referred to as “little r” restatements). A Covered Accounting Restatement does not include (A) an out-of-period adjustment when the error is immaterial to the previously issued financial statements, and the correction of the error is also immaterial to the current period; (B) a retrospective application of a change in accounting principle; (C) a retrospective revision to reportable segment information due to a change in the structure of an issuer’s internal organization; (D) a retrospective reclassification due to a discontinued operation; (E) a retrospective application of a change in reporting entity, such as from a reorganization of entities under common control; or (F) a retrospective revision for stock splits, reverse stock splits, stock dividends or other changes in capital structure. |
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4. | “Covered Executive” means any person who: |
a. | Has received applicable Compensation: |
i. | During the Three-Year Recovery Period; and | |
ii. | After beginning service as an Executive Officer; and |
b. | Has served as an Executive Officer at any time during the performance period for such Compensation. |
5. | “Exchange Act” means the Securities Exchange Act of 1934, as amended. | |
6. | “Executive Officer(s)” means an “executive officer” as defined in Exchange Act Rule 10D-1(d) and the Listing Standards and includes any person who is the Company’s president, principal financial officer, principal accounting officer (or if there is no such accounting officer, the controller), any vice president of the Company in charge of a principal business unit, division, or function (such as sales, administration, or finance), any other officer who performs a policy-making function, or any other person who performs similar policy-making functions for the Company (with any executive officers of the Company’s parent(s) or subsidiaries being deemed Covered Executives of the Company if they perform such policy making functions for the Company), and such other senior executives or employees who may from time to time be deemed subject to the Policy by the Board in its sole discretion. All executive officers of the Company identified by the Board pursuant to 17 CFR 229.401(b) shall be deemed “Executive Officers.” | |
7. | “Financial Reporting Measure(s)” means any measures that are determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and any measure that is derived wholly or in part from such measures, including share price and total shareholder return, including, but not limited to, financial reporting measures including “non-GAAP financial measures” for purposes of Exchange Act Regulation G and 17 CFR 229.10, as well other measures, metrics and ratios that are not non-GAAP measures, like same store sales. Financial Reporting Measures may or may not be included in a filing with the SEC and may be presented outside the Company’s financial statements, such as in Management’s Discussion and Analysis of Financial Conditions and Results of Operations or the performance graph. Financial Reporting Measures include, without limitation, any of the following: |
a. | Company share price; | |
b. | Total shareholder return; | |
c. | Revenues; | |
d. | Net income; | |
e. | Earnings before interest, taxes, depreciation, and amortization (EBITDA); | |
f. | Funds from operations; | |
g. | Liquidity measures such as working capital or operating cash flow; | |
h. | Return measures such as return on invested capital or return on assets; and | |
i. | Earnings measures such as earnings per share. |
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