Common use of Demotions, Disciplinary Actions and Misconduct Clause in Contracts

Demotions, Disciplinary Actions and Misconduct. The Company may, in its sole discretion, cancel this Performance Award or reduce the number of Performance Units, prorated according to time or other measure as determined appropriate by the Company, if during any period prior to the Service Vesting Date the Grantee has been (i) subject to disciplinary action by the Company or (ii) determined to have committed a material violation of law or Company policy or to have failed to properly manage or monitor the conduct of an employee who has committed a material violation of law or Company policy whereby, in either case, such conduct causes significant harm to the Company, as determined in the sole discretion of the Company.

Demotions, Disciplinary Actions and Misconduct. The Company Committee may, in its sole discretion, cancel this Performance Performance-Based Award or reduce the number of Performance UnitsShares eligible to vest, prorated according to time or other measure as determined appropriate by the CompanyCommittee, if during any period prior to portion of the Service Vesting Date Performance Period the Grantee has been (i) subject to disciplinary action by the Company or (ii) determined to have committed a material violation of law or Company policy or to have failed to properly manage or monitor the conduct of an employee who has committed a material violation of law or Company policy whereby, in either case, such conduct causes significant harm to the Company, as determined in the sole discretion of the Company.

Demotions, Disciplinary Actions and Misconduct. The Company Committee may, in its sole discretion, cancel this Performance Award or reduce the number of Performance UnitsShares eligible to vest, prorated according to time or other measure as determined appropriate by the CompanyCommittee, if during any period prior to portion of the Service Vesting Date Performance Period the Grantee has been (i) subject to disciplinary action by the Company or (ii) determined to have committed a material violation of law or Company policy or to have failed to properly manage or monitor the conduct of an employee who has committed a material violation of law or Company policy whereby, in either case, such conduct causes significant harm to the Company, as determined in the sole discretion of the Company.