Information Security Breach Response Sample Clauses

The Information Security Breach Response clause outlines the procedures and responsibilities that parties must follow in the event of a data or security breach involving sensitive information. Typically, this clause requires prompt notification to affected parties, cooperation in investigating the breach, and implementation of remedial measures such as securing compromised systems or offering credit monitoring to impacted individuals. Its core function is to ensure a coordinated and timely response to security incidents, thereby minimizing potential harm and fulfilling legal or contractual obligations related to data protection.

Information Security Breach Response. Empower will notify Plan Sponsor after becoming aware of any Information Security Breach in accordance with all applicable Data Protection Laws. For the avoidance of doubt, Empower will (i) keep the Plan Sponsor informed of significant developments in connection with the investigation of such incident; (ii) investigate and assist any regulator or other governmental body with oversight over the Information Security Breach in investigating, remedying and taking any other action regarding the Information Security Breach as appropriate or required by law; and (iii) provide Plan Sponsor with information about remedial measures that have been undertaken to prevent such Information Security Breach from reoccurring. In the event that individual or regulatory notifications are required under applicable Data Protection Laws, the parties will cooperate with respect to notifications. To the extent the Information Security Breach is caused by Empower’s failure to abide by its obligations as set forth in this Data Security Addendum, Empower shall bear the costs of such notifications and provision of credit monitoring services to affected individuals to the extent required by law or otherwise appropriate in Plan Sponsor’s and Empower’s reasonable judgment.

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