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Common use of Clawback/Recoupment Clause in Contracts

Clawback/Recoupment. Notwithstanding any other provisions in this Agreement to the contrary, any compensation provided to, or gain realized by, Executive pursuant to this Agreement or any other agreement or arrangement with the Company shall be subject to repayment and/or forfeiture by Executive to the Company if and to the extent any such compensation or gain (i) is or becomes subject to the “clawback” policy adopted by the REIT and in effect as of the date hereof that is applicable to Executive and other similarly situated executives, or (ii) is, or in the future, becomes subject to, any law, rule, requirement or regulation which imposes mandatory recoupment or forfeiture, under circumstances set forth in such law, rule, requirement or regulation.

Appears in 20 contracts

Samples: Employment Agreement (Broadstone Net Lease, Inc.), Employment Agreement (Broadstone Net Lease, Inc.), Employment Agreement (Broadstone Net Lease, Inc.)

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Clawback/Recoupment. Notwithstanding any other provisions provision in this Agreement to the contrary, any compensation provided to, or gain realized by, paid to the Executive pursuant to this Agreement or any other agreement or arrangement with the Company shall be subject to mandatory repayment and/or forfeiture by the Executive to the Company if and to the extent any such compensation paid to the Executive is, or gain in the future becomes, subject to (i) is or becomes subject to the any “clawback” or recoupment policy adopted by the REIT and in effect as of the date hereof that is applicable to Executive and all senior executives of the Company or that is adopted to comply with any applicable law, rule or regulation, or any other similarly situated executivesrequirement, or (ii) is, or in the future, becomes subject to, any law, rule, requirement or regulation which imposes mandatory recoupment or forfeiturerecoupment, under circumstances set forth in such law, rule, requirement or regulation.

Appears in 1 contract

Samples: Employment Agreement (Ambac Financial Group Inc)

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