Common use of Forfeiture; Recoupment Clause in Contracts

Forfeiture; Recoupment. a. Notwithstanding anything herein to the contrary, if (i) the Grantee is terminated for Cause, or (ii) the Committee (or its designee) determines that the Grantee has (x) engaged in conduct which could reasonably be expected to constitute Cause hereunder (regardless of whether the Grantee’s employment with the Employer terminated), or (y) breached any restrictive covenant by which the Grantee is bound (whether under this Agreement or otherwise), then in each case, the Company shall have the right to recoup from the Grantee, and the Grantee shall repay to the Company, within thirty (30) days following demand by the Company, a payment equal to the Fair Market Value of the aggregate Shares received upon settlement of the RSUs (if any) within the 12-month period immediately preceding such termination or determination, as applicable; provided, that, the Company may require the Grantee to satisfy such payment obligations hereunder either by forfeiting and returning to the Company such Shares received upon settlement of the RSUs or any other Shares, or making a cash payment or any combination of these methods, as determined by the Company in its sole discretion.

Forfeiture; Recoupment. a. Notwithstanding anything herein to the contrary, if (i) the Grantee is terminated for Cause, or (ii) after the termination of Grantee’s employment with the Employer, the Committee (or its designee) determines that the Grantee has (x) engaged in conduct which could would reasonably be expected to constitute Cause hereunder (regardless of whether the Grantee’s employment with the Employer terminated)hereunder, or (y) breached any restrictive covenant by which the Grantee is bound (whether under this Agreement or otherwise), then in each case, the Company shall have the right to recoup from the Grantee, and the Grantee shall repay to the Company, within thirty (30) days following demand by the Company, a payment equal to the Fair Market Value of the aggregate Shares received upon settlement of the RSUs (if any) within the 12-month period immediately preceding such termination or determination, as applicable; provided, that, the Company may require the Grantee to satisfy such payment obligations hereunder either by forfeiting and returning to the Company such Shares received upon settlement of the RSUs or any other Shares, or making a cash payment or any combination of these methods, as determined by the Company in its sole discretion.

Forfeiture; Recoupment. a. (a) Notwithstanding anything herein to the contrary, if (i) the Grantee is terminated for Cause, or (ii) the Committee (or its designee) determines that the Grantee has (x) engaged in conduct which could reasonably be expected to constitute Cause hereunder (regardless of whether the Grantee’s employment with the Employer terminated), or (y) breached any restrictive covenant by which the Grantee is bound (whether under this Agreement or otherwise), then in each case, the Company shall have the right to recoup from the Grantee, and the Grantee shall repay to the Company, within thirty (30) days following demand by the Company, a payment equal to the Fair Market Value of the aggregate Shares received upon settlement exercise of the RSUs Option (if any) within the 12-month period immediately preceding such termination or determination, as applicable, net of the aggregate exercise price paid by the Grantee in cash upon exercise of such Option (if any); provided, that, the Company may require the Grantee to satisfy such payment obligations hereunder either by forfeiting and returning to the Company such Shares received upon settlement exercise of the RSUs Option or any other Shares, or making a cash payment or any combination of these methods, as determined by the Company in its sole discretion.

Forfeiture; Recoupment. a. Notwithstanding anything herein to the contrary, if (i) the Grantee is terminated for Cause, or (ii) the Committee (or its designee) determines that the Grantee has (x) engaged in conduct which could reasonably be expected to constitute Cause hereunder (regardless of whether the Grantee’s employment with the Employer terminated), or (y) breached any restrictive covenant by which the Grantee is bound (whether under this Agreement or otherwise), then in each case, the Company shall have the right to recoup from the Grantee, and the Grantee shall repay to the Company, within thirty (30) days following demand by the Company, a payment equal to the Fair Market Value of the aggregate Shares received upon settlement of the RSUs PSUs (if any) within the 12-month period immediately preceding such termination or determination, as applicable; provided, that, the Company may require the Grantee to satisfy such payment obligations hereunder either by forfeiting and returning to the Company such Shares received upon settlement of the RSUs PSUs or any other Shares, or making a cash payment or any combination of these methods, as determined by the Company in its sole discretion.

Forfeiture; Recoupment. a. Notwithstanding anything herein to the contrary, if (i) the Grantee is terminated for Cause, or (ii) after the termination of Grantee’s employment with the Employer, the Committee (or its designee) determines that the Grantee has (x) engaged in conduct which could would reasonably be expected to constitute Cause hereunder (regardless of whether the Grantee’s employment with the Employer terminated)hereunder, or (y) breached any restrictive covenant by which the Grantee is bound (whether under this Agreement or otherwise), then in each case, the Company shall have the right to recoup from the Grantee, and the Grantee shall repay to the Company, within thirty (30) days following demand by the Company, a payment equal to the Fair Market Value of the aggregate Shares received upon settlement of the RSUs PSUs (if any) within the 12-month period immediately preceding such termination or determination, as applicable; provided, that, the Company may require the Grantee to satisfy such payment obligations hereunder either by forfeiting and returning to the Company such Shares received upon settlement of the RSUs PSUs or any other Shares, or making a cash payment or any combination of these methods, as determined by the Company in its sole discretion.