Common use of Clawback Provision Clause in Contracts

Clawback Provision. It is the Corporation’s Policy that, consistent with Section 954 of the Xxxx-Xxxxx Act, in the event that the Corporation is required to prepare an accounting restatement due to the material noncompliance of the Corporation with any financial reporting requirement under the securities laws, the Corporation will seek to recover from any current or former executive officer of the Corporation who received incentive-based compensation (including stock options and performance shares awarded as compensation) during the 3-year period preceding the date on which the Corporation is required to prepare the accounting restatement, the amount, based on the erroneous data, in excess of what would have been paid to the executive officer under the accounting restatement. The Corporation will implement this Policy in accordance with the rules of the Securities Exchange Commission, as they are promulgated. Pursuant to this agreement, Employee agrees to promptly return to the Corporation any and all amounts received pursuant to this Agreement to the extent the Corporation is entitled or required to recover such amounts by the terms of (i) the Corporation’s Executive Compensation Recoupment Policy or other clawback or recoupment policy, as adopted, amended, implemented, and interpreted by the Corporation from time to time, and/or (ii) Section 954 of the Xxxx-Xxxxx Act (as may be amended) and any applicable rules or regulations promulgated by the Securities Exchange Commission.

Clawback Provision. It is the CorporationCompany’s Policy that, consistent with Section 954 of the Xxxx-Xxxxx Act, in the event that the Corporation Company is required to prepare an accounting restatement due to the material noncompliance of the Corporation Company with any financial reporting requirement under the securities laws, the Corporation Company will seek to recover from any current or former executive officer of the Corporation Company who received incentive-based compensation (including stock options and performance shares awarded as compensation) during the 3-year period preceding the date on which the Corporation Company is required to prepare the accounting restatement, the amount, based on the erroneous data, in excess of what would have been paid to the executive officer under the accounting restatement. The Corporation Company will implement this Policy in accordance with the rules of the Securities Exchange Commission, as they are promulgated. Pursuant to this agreement, Employee agrees to promptly return to the Corporation Company any and all amounts received pursuant to this Agreement to the extent the Corporation Company is entitled or required to recover such amounts by the terms of (i) the CorporationCompany’s Executive Compensation Recoupment Policy or other clawback Clawback or recoupment policy, as adopted, amended, implemented, and interpreted by the Corporation Company from time to time, and/or (ii) Section 954 of the Xxxx-Xxxxx Act (as may be amended) and any applicable rules or regulations promulgated by the Securities Exchange Commission.

Clawback Provision. It is the CorporationCompany’s Policy that, consistent with Section 954 of the Xxxx-Xxxxx Act, in the event that the Corporation Company is required to prepare an accounting restatement due to the material noncompliance of the Corporation Company with any financial reporting requirement under the securities laws, the Corporation Company will seek to recover from any current or former executive officer of the Corporation Company who received incentive-based compensation (including stock options and performance shares cash awards awarded as compensation) during the 3-year period preceding the date on which the Corporation Company is required to prepare the accounting restatement, the amount, based on the erroneous data, in excess of what would have been paid to the executive officer under the accounting restatement. The Corporation Company will implement this Policy in accordance with the rules of the Securities Exchange Commission, as they are promulgated. Pursuant to this agreement, Employee agrees to promptly return to the Corporation Company any and all amounts received pursuant to this Agreement to the extent the Corporation Company is entitled or required to recover such amounts by the terms of (i) the CorporationCompany’s Executive Compensation Recoupment Policy or other clawback Clawback or recoupment policy, as adopted, amended, implemented, and interpreted by the Corporation Company from time to time, and/or (ii) Section 954 of the Xxxx-Xxxxx Act (as may be amended) and any applicable rules or regulations promulgated by the Securities Exchange Commission.

Clawback Provision. It is the CorporationCompany’s Policy that, consistent with Section 954 of the XxxxDxxx-Xxxxx Act, in the event that the Corporation Company is required to prepare an accounting restatement due to the material noncompliance of the Corporation Company with any financial reporting requirement under the securities laws, the Corporation Company will seek to recover from any current or former executive officer of the Corporation Company who received incentive-based compensation (including stock options and performance shares awarded as compensation) during the 3-year period preceding the date on which the Corporation Company is required to prepare the accounting restatement, the amount, based on the erroneous data, in excess of what would have been paid to the executive officer under the accounting restatement. The Corporation Company will implement this Policy in accordance with the rules of the Securities Exchange Commission, as they are promulgated. Pursuant to this agreement, Employee agrees to promptly return to the Corporation Company any and all amounts received pursuant to this Agreement to the extent the Corporation Company is entitled or required to recover such amounts by the terms of (i) the CorporationCompany’s Executive Compensation Recoupment Policy or other clawback Clawback or recoupment policy, as adopted, amended, implemented, and interpreted by the Corporation Company from time to time, and/or (ii) Section 954 of the XxxxDxxx-Xxxxx Act (as may be amended) and any applicable rules or regulations promulgated by the Securities Exchange Commission.

Clawback Provision. It is the Corporation’s Policy that, consistent with Section 954 of the Xxxx-Xxxxx Act, in the event that the Corporation is required to prepare an accounting restatement due to the material noncompliance of the Corporation with any financial reporting requirement under the securities laws, the Corporation will seek to recover from any current or former executive officer of the Corporation who received incentive-based compensation (including stock options and performance shares awarded as compensation) during the 3-year period preceding the date on which the Corporation is required to prepare the accounting restatement, the amount, based on the erroneous data, in excess of what would have been paid to the executive officer under the accounting restatement. The Corporation will implement this Policy in accordance with the rules of the Securities Exchange Commission, as they are promulgated. Pursuant to this agreementAgreement, Employee agrees to promptly return to the Corporation any and all amounts received pursuant to this Agreement to the extent the Corporation is entitled or required to recover such amounts by the terms of (i) the Corporation’s Executive Compensation Recoupment Policy or other clawback or recoupment policy, as adopted, amended, implemented, and interpreted by the Corporation from time to time, and/or (ii) Section 954 of the Xxxx-Xxxxx Act (as may be amended) and any applicable rules or regulations promulgated by the Securities Exchange Commission.

Clawback Provision. It is the Corporation’s 's Policy that, consistent with Section 954 of the Xxxx-Xxxxx Act, in the event that the Corporation is required to prepare an accounting restatement due to the material noncompliance of the Corporation with any financial reporting requirement under the securities laws, the Corporation will seek to recover from any current or former executive officer of the Corporation who received incentive-based compensation (including stock options and performance shares awarded as compensation) during the 3-year period preceding the date on which the Corporation is required to prepare the accounting restatement, the amount, based on the erroneous data, in excess of what would have been paid to the executive officer under the accounting restatement. The Corporation will implement this Policy in accordance with the rules of the Securities Exchange Commission, as they are promulgated. Pursuant to this agreement, Employee agrees to promptly return to the Corporation any and all amounts received pursuant to this Agreement to the extent the Corporation is entitled or required to recover such amounts by the terms of (i) the Corporation’s 's Executive Compensation Recoupment Policy or other clawback or recoupment policy, as adopted, amended, implemented, and interpreted by the Corporation from time to time, and/or (ii) Section 954 of the Xxxx-Xxxxx Act (as may be amended) and any applicable rules or regulations promulgated by the Securities Exchange Commission.