Clawback/Recoupment. Notwithstanding any other provision in this Agreement to the contrary, any compensation paid to the Executive pursuant to this Agreement or any other agreement or arrangement with the Company shall be subject to mandatory repayment by the Executive to AAC or AFG, as applicable, to the extent any such compensation paid to the Executive is, or in the future becomes, subject to (i) the Company’s Recoupment Policy as in effect from time to time, or (ii) any law, rule, requirement or regulation which imposes mandatory recoupment, under circumstances set forth in such law, rule, requirement or regulation.
Appears in 3 contracts
Samples: Employment Agreement (Ambac Financial Group Inc), Employment Agreement (Ambac Financial Group Inc), Employment Agreement (Ambac Financial Group Inc)
Clawback/Recoupment. Notwithstanding any other provision in this Agreement to the contrary, any compensation paid to the Executive pursuant to this Agreement or any other agreement or arrangement with the Company shall be subject to mandatory repayment by the Executive to AAC or AFG, as applicable, to the extent any such compensation paid to the Executive is, or in the future becomes, subject to (i) the Company’s Recoupment Policy as in effect from time any “clawback” or recoupment policy that is applicable to timeall senior executives of AFG and AAC or that is adopted to comply with any applicable law, rule or regulation, or any other requirement, or (ii) any law, rule, requirement or regulation which imposes mandatory recoupment, under circumstances set forth in such law, rule, requirement or regulation.
Appears in 2 contracts
Samples: Employment Agreement (Ambac Financial Group Inc), Employment Agreement (Ambac Financial Group Inc)
Clawback/Recoupment. Notwithstanding any other provision in this Agreement to the contrary, any compensation paid to the Executive pursuant to this Agreement or any other agreement or arrangement with the Company shall be subject to mandatory repayment by the Executive to AAC or AFG, as applicable, to the extent any such compensation paid to the Executive is, or in the future becomes, subject to (i) the Company’s Recoupment Policy as in effect from time any “clawback” or recoupment policy that is applicable to timeall senior executives of AFG or that is adopted to comply with any applicable law, rule or regulation, or any other requirement, or (ii) any law, rule, requirement or regulation which imposes mandatory recoupment, under circumstances set forth in such law, rule, requirement or regulation.
Appears in 2 contracts
Samples: Employment Agreement (Ambac Financial Group Inc), Employment Agreement (Ambac Financial Group Inc)