<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/8842a0c9-6966-4ebf-866b-dbe9dbb1f681/F0BDEC3B-BF12-464E-8EC7-8F0A81223D90/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://blogs.wsj.com/law/2007/12/27/law-blog-word-of-the-day-pelf/" href="http://blogs.wsj.com/law/2007/12/27/law-blog-word-of-the-day-pelf/" style="font-size: 11px;">blogs.wsj.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/law/2007/12/27/law-blog-word-of-the-day-pelf/"><table background="undefined" bgcolor=""><tr><TD class="content"><DIV class="header-title"> <A title="Law Blog - WSJ.com" href="http://blogs.wsj.com/law"> <IMG alt="Law Blog - WSJ.com" class="header-title-image" src="http://s.wsj.net/img/blogs/law_title.gif" /> </A> </DIV> <DIV class="header-description">  WSJ.com on law and business and the business of law. </DIV> </TD></tr></table></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/law/2007/12/27/law-blog-word-of-the-day-pelf/"><H2 class="post-title"> Law Blog Word Of the Day: Pelf</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/law/2007/12/27/law-blog-word-of-the-day-pelf/"><P>The ultimate question in the derivative suit, is whether a sentient and alert corporate Board of Directors — faced with a Chairman and Chief Executive Officer who cannot deny having knowingly or recklessly (i) backdated options, (ii) engaged in substantial undisclosed financial engagements with the chair of the Board’s compensation committee, (iii) submitted false and misleading reports to the SEC, and (iv) responded falsely or disingenuously to the Board’s inquiries about his financial dealings in the company’s options – would conclude he is entitled to depart from its employ while claiming <STRONG>pelf </STRONG>approaching $800,000,000. While UHG at one time may have agreed to pay him these sums, it seems conceivable to the Court that the Board might well have decided – in light of the conduct Dr. McGuire has admitted in the SEC litigation - that this payout was uncalled for.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/law/2007/12/27/law-blog-word-of-the-day-pelf/">Pelf!? What a stupendous word</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/F0BDEC3B-BF12-464E-8EC7-8F0A81223D90/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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