Common use of Malus Clause in Contracts

Malus. In the event of any circumstances which (a) would lead the Participant receiving or being eligible to receive an unfair benefit, or (b) the Committee determines in its absolute discretion that a clawback of the Restricted Securities is otherwise warranted, the Committee may, in its absolute discretion, by written notice to the relevant Participant require that Participant (i) pay to the Company the prevailing after-tax cash value of the Restricted Securities (with such payment to be made within 30 business days of receipt of such notice); or (ii) pay to the Company the proceeds (net of tax) arising from an on-market sale of Restricted Securities, within 30 business days of receipt of such notice. For the purposes of clause (a) of this Section4.6, an unfair benefit may, in the absolute discretion of the Committee, be considered to arise where the relevant Restricted Securities, which would not have otherwise vested, vest, or remain capable of vesting as a result of such circumstances. For the purposes of clause (b) of this Section 4.6, such circumstances are limited to (A) fraud or dishonesty on the part of the Participant, (B) bankruptcy of the Participant, or (C) any material misstatement of financial accounts by the Participant.

Malus. In the event of any circumstances which (a) would lead the Participant receiving or being eligible to receive an unfair benefit, or (b) the Committee determines in its absolute discretion that a clawback of the Restricted Securities is otherwise warranted, the Committee may, in its absolute discretion, by written notice to the relevant Participant require that Participant (i) pay to the Company the prevailing after-after tax cash value of the Restricted Securities (with such payment to be made within 30 business days of receipt of such notice); or (ii) pay to the Company the proceeds (net of tax) arising from an on-market sale of Restricted Securities, within 30 business days of receipt of such noticenotice . For the purposes of clause (a) of this Section4.6Section 6.6(a), an unfair benefit may, in the absolute discretion of the Committee, be considered to arise where the relevant Restricted Securities, which would not have otherwise vested, vest, vest or remain capable of vesting as a result of such circumstances. For the purposes of clause (b) of this Section 4.66.6(b), such circumstances are limited to (A) to: 6.6.1 fraud or dishonesty on the part of the Participant, (B) ; 6.6.2 breach of any obligations owed by the Participant to the Group; 6.6.3 bankruptcy of the Participant, or (C) ; or 6.6.4 any material misstatement of financial accounts by the Participant.

Malus. In the event of any circumstances which (a) would lead the Participant receiving or being eligible to receive an unfair benefit, or (b) the Committee determines in its absolute discretion that a clawback of the Restricted Securities is otherwise warranted, the Committee may, may in its absolute discretion, by written notice to the relevant Participant require that Participant (i) pay to the Company the prevailing after-after tax cash value of the Restricted Securities (with such payment to be made within 30 business days of receipt of such notice); or (ii) pay to the Company the proceeds (net of tax) arising from an on-market sale of Restricted Securities, within 30 business days of receipt of such noticenotice . For the purposes of clause (a) of this Section4.6Section 6.6(a), an unfair benefit may, in the absolute discretion of the Committee, be considered to arise where the relevant Restricted Securities, which would not have otherwise vested, vest, vest or remain capable of vesting as a result of such circumstances. For the purposes of clause (b) of this Section 4.66.6(b), such circumstances are limited to (A) to: 6.6.1 fraud or dishonesty on the part of the Participant, (B) ; 6.6.2 breach of any obligations owed by the Participant to the Group; 6.6.3 bankruptcy of the Participant, or (C) ; or 6.6.4 any material misstatement of financial accounts by the Participant.