Extract to table

Accordingly, the SOF language must be carefully negotiated to minimize both criminal and civil exposure

TMC's equity securities are listed on the Toronto Stock Exchange (TSX: TRCL) and the New York Stock Exchange (NYSE: TMC), and both exchanges have real-time disclosure requirements that must be observed

Red Lines Calderwood & Harkness recommends that the following be treated as non-negotiable red lines — positions from which TMC should not retreat: • The monetary payment must not exceed USD 55 million

• The cooperation obligations must not require TMC to waive any attorney-client privilege or work-product protection not already waived in the course of the investigation

TMC's privilege protections are essential to its defense in potential civil litigation and must be preserved

• The compliance-monitor term must not exceed three years