Common use of Reporting the violation Clause in Contracts

Reporting the violation. The Officer shall report the failure to the CEO, Chief Financial & Operating Officer, and according to the severity of the case, also to the chairman of the Audit Committee/Board of Directors, all according to the reporting requirements in this plan. Insofar as the CEO and/or Chief Financial & Operating Officer are involved in the failure, the Officer shall contact the chairman of the Audit Committee. Insofar as the members of the Committee are involved in the matter, the Officer shall contact the internal auditor. 1See quote from the minutes of an Audit Committee meeting dated February 5, 2012, which appears in Annex A.