Common use of Detrimental Activity and Recapture Clause in Contracts

Detrimental Activity and Recapture. (a) Notwithstanding anything in this Agreement to the contrary, in the event that, as determined by the Committee, Grantee shall engage in Detrimental Activity during employment with the Company or a Subsidiary, the PRSUs will be forfeited automatically and without further notice at the time of that determination notwithstanding any other provision of this Agreement. Nothing in this Agreement prevents Grantee from providing, without prior notice to the Company, information to governmental authorities regarding possible legal violations or otherwise testifying or participating in any investigation or proceeding by any governmental authorities regarding possible legal violations.

Appears in 3 contracts

Samples: Based Restricted Stock Unit Agreement (Timken Co), Restricted Stock Unit Agreement (Timken Co), Based Restricted Stock Unit Agreement (Timken Co)

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Detrimental Activity and Recapture. (a) Notwithstanding anything in this Agreement to the contrary, in the event that, as determined by the Committee, Grantee shall engage in Detrimental Activity during employment or other service with the Company or a Subsidiary, the PRSUs will be forfeited automatically and without further notice at the time of that determination notwithstanding any other provision of this Agreement. Nothing Notwithstanding anything in this Agreement to the contrary, including Section 10 of the Agreement, nothing in this Agreement prevents Grantee from providing, without prior notice to the Company, information to governmental authorities regarding possible legal violations or otherwise testifying or participating in any investigation or proceeding by any governmental authorities regarding possible legal violations.

Appears in 2 contracts

Samples: Based Restricted Stock Units Agreement (Timken Co), Based Restricted Stock Units Agreement (Timken Co)

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