Common use of Event of Restatement Clause in Contracts

Event of Restatement. If the Committee determines that Xxxxxxx’s acts or omissions contributed to the need to restate any previously issued financial statements, the Committee may require the Grantee to reimburse or repay to the Company, or the Company may reduce the amount of this Award, by up to the amount of any “gain” the Grantee received. For purposes of this Section 5(a), “gain” shall mean the amount that the Grantee received in connection with this Award (including the proceeds of any sale of Common Stock after this Award has been settled), less the amount that the Grantee should have received based upon the restated financial results. The Company may recover amounts due under this Section 5(a) by all means available, including obtaining direct repayment from the Grantee, withholding such amount from other amounts owed by the Company or an Affiliate to the Grantee (or with respect to the Grantee), and/or causing the cancellation of any outstanding incentive award due to the Grantee under the Plan or otherwise. This Section 5(a) shall not affect the Company’s ability to pursue any other available rights and remedies under applicable law.

Event of Restatement. If the Committee determines that Xxxxxxx’s acts or omissions contributed to the need to restate any previously issued financial statements, the Committee may require the Grantee to reimburse or repay to the Company, or the Company may reduce the amount of this Award, by up to the amount of any “gain” the Grantee received. For purposes of this Section 5(a6(b), “gain” shall mean the amount that the Grantee received in connection with this Award (including the proceeds of any sale of Common Stock after issued pursuant to the exercise of this Award has been settledAward), less the amount that the Grantee should have received based upon the restated financial results. The Company may recover amounts due under this Section 5(a6(b) by all means available, including obtaining direct repayment from the Grantee, withholding such amount from other amounts owed by the Company or an Affiliate to the Grantee (or with respect to the Grantee), and/or causing the cancellation of any outstanding incentive award due to the Grantee under the Plan or otherwise. This Section 5(a6(b) shall not affect the Company’s ability to pursue any other available rights and remedies under applicable law.

Event of Restatement. If the Committee determines that Xxxxxxx’s acts or omissions contributed to the need to restate any previously issued financial statements, the Committee may require the Grantee to reimburse or repay to the Company, or the Company may reduce the amount of this the Award, by up to the amount of any “gain” the Grantee received. For purposes of this Section 5(a), “gain” shall mean the amount that the Grantee received in connection with this the Award (including the proceeds of any sale of Common Stock after this the Award has been settled), less the amount that the Grantee should have received based upon the restated financial results. The Company may recover amounts due under this Section 5(a) by all means available, including obtaining direct repayment from the Grantee, withholding such amount from other amounts owed by the Company or an Affiliate to the Grantee (or with respect to the Grantee), and/or causing the cancellation of any outstanding incentive award due to the Grantee under the Plan or otherwise. This Section 5(a) shall not affect the Company’s ability to pursue any other available rights and remedies under applicable law.