Common use of Clawback of any Erroneously Paid Compensation Clause in Contracts

Clawback of any Erroneously Paid Compensation. If, after a payment is made to the Executive pursuant to Section 3, the Corporation finds, after full consideration of the facts, that the Executive engaged in fraud, theft, embezzlement or any other criminal act of a similar nature in the performance of his duties to the Corporation, the Executive must immediately repay to the Corporation all amounts that were paid to him pursuant to Section 3 of the Agreement.

Clawback of any Erroneously Paid Compensation. If, after a payment is made to the Executive pursuant to Section 3, 4, 5 or 6, the Corporation finds, after full consideration of the facts, that the Executive engaged in fraud, theft, embezzlement or any other criminal act of a similar nature in the performance of his duties to the Corporation, the Executive must immediately repay to the Corporation all amounts that were paid to him pursuant to Section 3 3, 4, 5 or 6 of the Agreement.