Incentive Compensation Clawback Sample Clauses
An Incentive Compensation Clawback clause allows an employer to reclaim previously awarded incentive-based compensation from an employee under certain circumstances, such as misconduct or financial restatements. Typically, this clause applies to bonuses, stock options, or other performance-based rewards, and may be triggered if the employee is found to have violated company policies or if the company’s financial results are later corrected. The core function of this clause is to protect the company from unjust enrichment of employees and to ensure accountability by deterring unethical behavior or misreporting.
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Incentive Compensation Clawback. Notwithstanding any other provisions in this Agreement to the contrary, any (a) incentive-based compensation paid to Employee for meeting a financial reporting measure that is based on or derived from financial information or (b) other compensation paid to Employee under this Agreement or any other agreement or arrangement with the Company which is subject to recovery under any law, government regulation, or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation, or NASDAQ listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or NASDAQ listing requirement).
Incentive Compensation Clawback. Any compensation provided by the Company to the Executive, excepting only compensation pursuant to Section 3(a) above, shall be subject to the Company’s Incentive Compensation Clawback Policy as such policy shall be adopted, and from time to time amended, by the Board or the Compensation Committee.
Incentive Compensation Clawback. Executive understands and agrees that incentive compensation paid to him anytime during the time he served as the Executive Vice President – Finance, Administration and Chief Financial Officer may be subject to clawback solely to the extent required by applicable law or any applicable securities exchange listing standards, including, but not limited to the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act, as determined by the Compensation Committee of the Company’s Board of Directors (the “Committee”). Such clawback may include forfeiture, repurchase, reimbursement and/or recoupment of compensation, including the retention bonus payment, and will be determined by the Committee.
Incentive Compensation Clawback
Incentive Compensation Clawback