Settlements

ST-20
Akzo Nobel, N.V.
Akzo Nobel, N.V.
Netherlands
Rijksrecherche (Dutch Public Prosecution Service)
Iraq (UN Oil-for-Food)
2008
07/15
United States
Legal Person
Criminal
Unspecified
Criminal Fine
Unspecified
Unspecified
Art.16, Art.26
Art. 1, Art. 2, Art. 7, Art. 8
Unknown
Unknown
Yes
According to the US Department of Justice Nonprosecution Agreement, "It is understood that AKZO NOBEL will pay no monetary penalty in connection with this Agreement, based on AKZO NOBEL's representation that its former subsidiary, N.V. Organon, has agreed to enter into a criminal disposition with the Dutch National Public Prosecutor's Office for Financial, Economic and Environmental Offences (the "Dutch Public Prosecutor"). AKZO NOBEL represents that, pursuant to this contemplated disposition with the Dutch Public Prosecutor, N.V. Organon will admit criminal liability and pay a criminal fine of no less than € 381,602. It is understood that if there is no such criminal disposition with the Dutch Public Prosecutor within 180 days of the signing of this Agreement, then AKZO NOBEL shall pay a monetary penalty of $800,000 to the United States Treasury. It is further understood that if the criminal fine paid as part of the criminal disposition with the Dutch Public Prosecutor is less than € 381,602, then AKZO NOBEL shall pay to the United States Treasury the difference between the amount of the fine paid as part of the criminal disposition with the Dutch Public Prosecutor and $800,000, at the currency exchange rate prevailing as ofthe date of the execution of the agreement between AKZO NOBEL and the Dutch Public Prosecutor." (Source: US Department of Justice Nonprosecution Agreement, In re: Akzo Nobel N.V., December 20, 2007.)