Common use of Event of Restatement Clause in Contracts

Event of Restatement. (a) If the Company restates any previously issued financial statements and such restatement is required as a result of the Company’s material noncompliance with any applicable financial reporting requirement under the federal securities laws the Employee shall be required to reimburse or repay to the Company, or the Company may reduce the amount of the award subject to this Agreement, by any amount that the Company determines to be due pursuant to the Joy Global Compensation Recovery Policy (the “Policy”) (or pursuant to any regulation, rule, stock exchange listing standard or other guidance implementing Section 954 of the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act).