Department of State Monetary Payment. Pursuant to a separate and independent Consent Agreement that the UTC Entities will enter into with the United States Department of State to resolve a number of outstanding export control issues, including the Z10 matter, UTC has agreed to pay a civil penalty of $55 million to the United States Department of State. Five million dollars ($5,000,000) of the civil penalty will be suspended on the condition that UTC is found, in accordance with the provisions of the Consent Agreement, to have applied at least that amount for pre-Agreement, self-initiated remedial compliance measures. An additional $15 million of the civil penalty will be suspended on the condition that UTC is found, in accordance with the provisions of the Consent Agreement, to have applied at least that amount in post-Agreement authorized remedial compliance costs. A full suspension of the $20 million would result in a net payment of $35 million to the United States Department of State.
Appears in 4 contracts
Samples: Deferred Prosecution Agreement, Deferred Prosecution Agreement, Deferred Prosecution Agreement
