Common use of Clawback/Repayment Clause in Contracts

Clawback/Repayment. Notwithstanding anything to the contrary contained herein, in consideration of the grant of this Award, you agree that you are a Covered Employee under the AIG Clawback Policy with respect to this Award and any payments hereunder and, accordingly, this Award and any payments hereunder will be subject to forfeiture and/or repayment to the extent provided for in the AIG Clawback Policy, as in effect from time to time if it is determined that a Covered Event (as defined in such Policy) has occurred. With respect to this Award and any payments hereunder, each of the following events is a “Covered Event” for purposes of the Policy: 1. a material restatement of all or a portion of AIG’s financial statements occurs and the Board or Committee determines that recovery of payments under this Award is appropriate after reviewing all relevant facts and circumstances that contributed to the restatement, including whether you engaged in misconduct, and considering issues of accountability; 2. payments under this Award were based on materially inaccurate financial statements or on performance metrics that are materially inaccurately determined, regardless of whether you were responsible for the inaccuracy; 3. your failure to properly identify, assess or sufficiently raise concerns about risk, including in a supervisory role, resulted in a material adverse impact on AIG, any of AIG’s business units or the broader financial system; 4. any action or omission by you constituted a material violation of AIG’s risk policies as in effect from time to time; or 5. any action or omission by you resulted in material financial or reputational harm to AIG.

Appears in 9 contracts

Samples: Lti Award Agreement (Corebridge Financial, Inc.), Long Term Incentive Plan Award Agreement (Corebridge Financial, Inc.), Long Term Incentive Plan Award Agreement (Corebridge Financial, Inc.)

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Clawback/Repayment. Notwithstanding anything to the contrary contained herein, in consideration of the grant of this Award, you agree that you are a Covered Employee under the AIG Clawback Policy with respect to this Award and any payments hereunder and, accordingly, this Award and any payments hereunder will be subject to forfeiture and/or repayment to the extent provided for in the AIG Clawback Policy, as in effect from time to time time, if it is determined that a Covered Event (as defined in such Policy) has occurred. With respect to this Award and any payments hereunder, each of the following events is a “Covered Event” for purposes of the Policy: 1. a material restatement of all or a portion of AIG’s financial statements occurs and the Board or Committee determines that recovery of payments under this Award is appropriate after reviewing all relevant facts and circumstances that contributed to the restatement, including whether you engaged in misconduct, and considering issues of accountability; 2. payments under this Award were based on materially inaccurate financial statements or on performance metrics that are materially inaccurately determined, regardless of whether you were responsible for the inaccuracy; 3. your failure to properly identify, assess or sufficiently raise concerns about risk, including in a supervisory role, resulted in a material adverse impact on AIG, any of AIG’s business units or the broader financial system; 4. any action or omission by you constituted a material violation of AIG’s risk policies as in effect from time to time; or 5. any action or omission by you resulted in material financial or reputational harm to AIG.

Appears in 2 contracts

Samples: Lti Stock Option Award Agreement (Corebridge Financial, Inc.), Lti Stock Option Award Agreement (American International Group Inc)

Clawback/Repayment. Notwithstanding anything to the contrary contained herein, in consideration of the grant of this Award, you agree that you are a Covered Employee under the AIG Clawback Policy with respect to this Award and any payments hereunder and, accordingly, this Award and any payments hereunder will be subject to forfeiture and/or repayment to the extent provided for in the AIG Clawback Policy, as in effect from time to time if it is determined that a Covered Event (as defined in such Policy) has occurred. With respect to this Award and any payments hereunder, each of the following events is a “Covered Event” for purposes of the Policy: 1. a material restatement of all or a portion of AIG’s financial statements occurs and the Board or Committee determines that recovery of payments under this Award is appropriate after reviewing all relevant facts and circumstances that contributed to the restatement, including whether you engaged in misconduct, and considering issues of accountability;; ­ 2. payments under this Award were based on materially inaccurate financial statements or on performance metrics that are materially inaccurately determined, regardless of whether you were responsible for the inaccuracy; 3. your failure to properly identify, assess or sufficiently raise concerns about risk, including in a supervisory role, resulted in a material adverse impact on AIG, any of AIG’s business units or the broader financial system; 4. any action or omission by you constituted a material violation of AIG’s risk policies as in effect from time to time; or 5. any action or omission by you resulted in material financial or reputational harm to AIG.

Appears in 2 contracts

Samples: Lti Award Agreement (Corebridge Financial, Inc.), Lti Award Agreement (American International Group Inc)

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Clawback/Repayment. Notwithstanding anything to the contrary contained herein, in consideration of the grant of this Award, you agree that you are a Covered Employee under the AIG Corebridge Financial, Inc. Clawback Policy with respect to this Award and any payments hereunder and, accordingly, this Award and any payments hereunder will be subject to forfeiture and/or repayment to the extent provided for in the AIG Corebridge Financial, Inc. Clawback Policy, as in effect from time to time if it is determined that a Covered Event (as defined in such Policy) has occurred. With respect to this Award and any payments hereunder, each of the following events is a “Covered Event” for purposes of the Policy: 1. a material restatement of all or a portion of AIGCorebridge’s financial statements occurs and the Board or Committee determines that recovery of payments under this Award is appropriate after reviewing all relevant facts and circumstances that contributed to the restatement, including whether you engaged in misconduct, and considering issues of accountability; 2. payments under this Award were based on materially inaccurate financial statements or on performance metrics that are materially inaccurately determined, regardless of whether you were responsible for the inaccuracy; 3. your failure to properly identify, assess or sufficiently raise concerns about risk, including in a supervisory role, resulted in a material adverse impact on AIGCorebridge, any of AIGCorebridge’s business units or the broader financial system; 1 Note to Draft: Subject to adoption of ESP. 4. any action or omission by you constituted a material violation of AIGCorebridge’s risk policies as in effect from time to time; or 5. any action or omission by you resulted in material financial or reputational harm to AIGCorebridge.

Appears in 1 contract

Samples: Long Term Incentive Plan Award Agreement (Corebridge Financial, Inc.)

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