; and (ii) in a clear and simple form in accordance with regulations to be promulgated by the Commission, any arrangements, whether or not written, that each such executive officer has with the issuer concerning the terms under which any type of compensation may be earned by or awarded to the executive officer, including in the future, unless such arrangements are disclosed under clause (i). (C) Timing of votes (i) Initial vote The vote on the initial resolution required by subparagraph (A) with respect to an executive officer shall occur not later than the end of the third quarter of the same fiscal year of the issuer in which the vote on the resolution required by paragraph (1) occurs. (ii) Second vote If the initial resolution required by subparagraph (A) with respect to an executive officer is not approved by the shareholders, the vote on the second resolution required by such subparagraph with respect to such executive officer shall occur not later than the date that is 90 days after the vote on the initial resolution required by such subparagraph with respect to such executive officer. (iii) Subsequent votes If the second resolution required by subparagraph (A) with respect to an executive officer, or any subsequent resolution required by such subparagraph with respect to such executive officer, is not approved by the shareholders, the vote on the next resolution required by such subparagraph with respect to such executive officer shall occur not later than the date that is 90 days after the vote on the previous resolution required by such subparagraph with respect to such executive officer. (D) Inapplicability Subparagraph (A) does not apply with respect to an individual who is no longer an executive officer of the issuer. . (b) Binding effect of votes on frequency Section 14A(a)(2) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78n–1(a)(2) ) is amended by adding at the end the following: Such votes shall occur not less frequently than so determined. . (c) Rules of construction Section 14A(c) of the