Clawback/Recoupment Policy. If Employee’s employment with the Company is terminated by the Company for Cause or by Employee without Good Reason, notwithstanding anything contained herein to the contrary, in the event of Employee’s breach of Section 8 or the Board’s good faith determination that Employee intentionally had failed to disclose, or cause the disclosure of, material liabilities of the Company or any of its Affiliated Companies in connection with the transactions contemplated by the Merger Agreement, Parent and the Company shall have the right to clawback, and require Employee to repay, any portion of the Stay/Client Retention Bonus and Stay/Client Retention RSUs paid or settled within the prior twelve (12) months or thereafter.
Appears in 4 contracts
Samples: Employment Agreement (National Patent Development Corp), Employment Agreement (National Patent Development Corp), Employment Agreement (National Patent Development Corp)
