Section 16 Officer Clause Samples
The Section 16 Officer clause designates a specific individual within a company as the officer responsible for compliance with Section 16 of the Securities Exchange Act of 1934. This clause typically identifies the officer by title or name and outlines their duties, such as filing required reports with the SEC regarding transactions in company securities by insiders. By clearly assigning responsibility, the clause ensures that the company meets its legal obligations and reduces the risk of non-compliance penalties.
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Section 16 Officer. Upon Employee's resignation as Senior Vice President and Chief Financial Officer, SS&C does not consider Employee to be one of its "executive officers" within the meaning of Rule 3b-7 under the Securities Exchange Act of 1934, as amended (the "Exchange Act") nor an "officer" within the meaning of Rule 16a-1(f) under the Exchange Act.
Section 16 Officer. The parties anticipate that Executive will become a Section 16 Officer of the Company. Executive agrees to comply with his corresponding reporting and other requirements as a Section 16 Officer and to assist the Company in complying with its obligations under Section 16 of the Exchange Act and all other legal requirements.