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Common use of Misconduct Clause in Contracts

Misconduct. (i) The Company is authorized to suspend or terminate this Option and any other outstanding stock option held by the Optionee prior to or after termination of employment if the Company reasonably determines that during the Optionee’s employment with the Company or any of its Subsidiaries: (1) The Optionee knowingly participated in misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance program or similar program of the Company; or (2) The Optionee was aware of and failed to report, as required by any code of ethics of the Company applicable to the Optionee or by the Always Honest compliance program or similar program of the Company, misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance program or similar program of the Company. (ii) If, at any time after the Optionee exercises this Option, in whole or in part, the Company reasonably determines that the provisions of Section 6(c) applies to the Optionee, then any gain (without regard to tax effects) realized by the Optionee from such exercise shall be paid by the Optionee to the Company. The Optionee consents to the deduction from any amounts the Company or any of its Subsidiaries owes to the Optionee to the extent of the amounts the Optionee owes the Company under this Section 6.

Appears in 6 contracts

Samples: Global Stock Option Agreement (Moneygram International Inc), Non Qualified Stock Option Agreement (Moneygram International Inc), Non Qualified Stock Option Agreement (Moneygram International Inc)

Misconduct. (i) The Company is authorized to suspend or terminate this Option and any other outstanding stock option held by the Optionee prior to or after termination of employment if the Company reasonably determines that during the Optionee’s employment with the Company or any of its Subsidiaries: (1) The Optionee knowingly participated in misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance program or similar program of the Company; or (2) The Optionee was aware of and failed to report, as required by any code of ethics of the Company applicable to the Optionee or by the Always Honest compliance program or similar program of the Company, misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance program or similar program of the Company. (ii) If, at any time after the Optionee exercises this Option, in whole or in part, the Company reasonably determines that the provisions of Section 6(c6(d) applies to the Optionee, then any gain (without regard to tax effects) realized by the Optionee from such exercise shall be paid by the Optionee to the Company. The Optionee consents to the deduction from any amounts the Company or any of its Subsidiaries owes to the Optionee to the extent of the amounts the Optionee owes the Company under this Section 6.

Appears in 4 contracts

Samples: Employment Agreement (Moneygram International Inc), Non Qualified Stock Option Agreement (Moneygram International Inc), Non Qualified Stock Option Agreement (Moneygram International Inc)

Misconduct. Unless a Change in Control shall have occurred after the date hereof: (i) The Company Corporation is authorized to suspend or terminate this Option and any other outstanding stock option or stock appreciation right held by the Optionee Grantee prior to or after termination of employment if the Company Corporation reasonably determines that during the OptioneeGrantee’s employment with the Company Corporation or any of its SubsidiariesAffiliates: (1) The Optionee Grantee knowingly participated in misconduct that causes a misstatement of the financial statements of the Company MoneyGram International, Inc. or any of its Subsidiaries Affiliates or misconduct which represents a material violation of any code of ethics of the Company Corporation applicable to the Optionee Grantee or of the Always Honest compliance program or similar program of the CompanyCorporation; or (2) The Optionee Grantee was aware of and failed to report, as required by any code of ethics of the Company Corporation applicable to the Optionee Grantee or by the Always Honest compliance program or similar program of the CompanyCorporation, misconduct that causes a misstatement of the financial statements of the Company MoneyGram International, Inc. or any of its Subsidiaries Affiliates or misconduct which represents a material knowing violation of any code of ethics of the Company Corporation applicable to the Optionee Grantee or of the Always Honest compliance program or similar program of the CompanyCorporation. (ii) If, at any time after the Optionee Grantee exercises this Option, Option in whole or in part, the Company Corporation reasonably determines that the provisions of Section 6(c3(c) applies to the OptioneeGrantee, then any gain (without regard to tax effects) realized by the Optionee Grantee from such exercise shall be paid by the Optionee Grantee to the CompanyCorporation. The Optionee Grantee consents to the deduction from any amounts the Company Corporation or any of its Subsidiaries Affiliates owes to the Optionee Grantee to the extent of the amounts the Optionee Grantee owes the Company Corporation under this Section 63.

Appears in 3 contracts

Samples: Non Qualified Stock Option Agreement (Moneygram International Inc), Non Qualified Stock Option Agreement (Moneygram International Inc), Non Qualified Stock Option Agreement (Moneygram International Inc)

Misconduct. (i) The Company is authorized to suspend or terminate this Option and any other outstanding stock option held by the Optionee prior to or after termination of employment if the Company reasonably determines that during the Optionee’s employment with the Company or any of its Subsidiaries: (1) The Optionee knowingly participated in misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance program or similar program of the Company; or (2) The Optionee was aware of and failed to report, as required by any code of ethics of the Company applicable to the Optionee or by the Always Honest 6574120-v9\GESDMS 6 compliance program or similar program of the Company, misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance program or similar program of the Company. (ii) If, at any time after the Optionee exercises this Option, in whole or in part, the Company reasonably determines that the provisions of Section 6(c) applies to the Optionee, then any gain (without regard to tax effects) realized by the Optionee from such exercise shall be paid by the Optionee to the Company. The Optionee consents to the deduction from any amounts the Company or any of its Subsidiaries owes to the Optionee to the extent of the amounts the Optionee owes the Company under this Section 6.

Appears in 2 contracts

Samples: Global Stock Option Agreement (Moneygram International Inc), Global Stock Option Agreement (Moneygram International Inc)

Misconduct. (i) The Company is authorized to suspend or terminate this Option and any other outstanding stock option the SARs held by the Optionee Holder prior to or after termination of employment if the Company reasonably determines that during the OptioneeHolder’s employment with the Company or any of its Subsidiaries: (1) The Optionee Holder knowingly participated in misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee Holder or of the Always Honest compliance program or similar program of the Company; or (2) The Optionee Holder was aware of and failed to report, as required by any code of ethics of the Company applicable to the Optionee Holder or by the Always Honest compliance program or similar program of the Company, misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee Holder or of the Always Honest compliance program or similar program of the Company. (ii) If, at any time after the Optionee Holder exercises this Optionthe SARs, in whole or in part, the Company reasonably determines that the provisions of Section 6(c5(c) applies to the OptioneeHolder, then any gain (without regard to tax effects) realized by the Optionee Holder from such exercise shall be paid by the Optionee Holder to the Company. The Optionee Holder consents to the deduction from any amounts the Company or any of its Subsidiaries owes to the Optionee Holder to the extent of the amounts the Optionee Holder owes the Company under this Section 65.

Appears in 1 contract

Samples: Global Stock Appreciation Right Agreement (Moneygram International Inc)

Misconduct. (i) The Company is authorized to suspend or terminate this Option and any other outstanding stock option the SARs held by the Optionee Holder prior to or after termination of employment if the Company reasonably determines that during the OptioneeHolder’s employment with the Company or any of its Subsidiaries: (1) The Optionee Holder knowingly participated in misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee Holder or of the Always Honest compliance program or similar program of the Company; or (2) The Optionee Holder was aware of and failed to report, as required by any code of ethics of the Company applicable to the Optionee Holder or by the Always Honest compliance program or similar program of the Company, misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee Holder or of the Always Honest compliance program or similar program of the Company. (ii) If, at any time after the Optionee Holder exercises this Optionthe SARs, in whole or in part, the Company reasonably determines that the provisions of Section 6(c5(c) applies apply to the OptioneeHolder, then any gain (without regard to tax effects) realized by the Optionee Holder from such exercise shall be 6574158-v7\GESDMS 6 paid by the Optionee Holder to the Company. The Optionee Holder consents to the deduction from any amounts the Company or any of its Subsidiaries owes to the Optionee Holder to the extent of the amounts the Optionee Holder owes the Company under this Section 65.

Appears in 1 contract

Samples: Global Stock Appreciation Right Agreement (Moneygram International Inc)

Misconduct. (i) The Company is authorized to suspend or terminate this Option and any other outstanding stock option held by the Optionee prior to or after termination of employment if the Company reasonably determines that during the Optionee’s employment with the Company or any of its Subsidiaries: (1) The Optionee knowingly participated in misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance program or similar program of the Company; or (2) The Optionee was aware of and failed to report, as required by any code of ethics of the Company applicable to the Optionee or by the Always Honest compliance program or similar program of the Company, misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance program or similar program of the Company. (ii) If, at any time after the Optionee exercises this Option, in whole or in part, the Company reasonably determines that the provisions of Section 6(c7(c) applies to the Optionee, then any gain (without regard to tax effects) realized by the Optionee from such exercise shall be paid by the Optionee to the Company. The Optionee consents to the deduction from any amounts the Company or any of its Subsidiaries owes to the Optionee to the extent of the amounts the Optionee owes the Company under this Section 67.

Appears in 1 contract

Samples: Stock Option Agreement (Moneygram International Inc)

Misconduct. (i) The Company is authorized to suspend or terminate this Option and any other outstanding stock option held by the Optionee prior to or after termination of employment if the Company reasonably determines that during the Optionee’s employment with the Company or any of its Subsidiaries: (1) The Optionee knowingly participated in misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance Code of Conduct program or similar program of the Company; or (2) The Optionee was aware of and failed to report, as required by any code of ethics of the Company applicable to the Optionee or by the Always Honest compliance Code of Conduct program or similar program of the Company, misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee or of the Always Honest compliance Code of Conduct program or similar program of the Company. (ii) If, at any time after the Optionee exercises this Option, in whole or in part, the Company reasonably determines that the provisions of Section 6(c) applies to the Optionee, then any gain (without regard to tax effects) realized by the Optionee from such exercise shall be paid by the Optionee to the Company. The Optionee consents to the deduction from any amounts the Company or any of its Subsidiaries owes to the Optionee to the extent of the amounts the Optionee owes the Company under this Section 6.

Appears in 1 contract

Samples: Global Stock Option Agreement (Moneygram International Inc)

Misconduct. (i) The Company is authorized to suspend or terminate this Option the SARs and any other outstanding stock option awards held by the Optionee Holder prior to or after termination of employment if the Company reasonably determines that during the OptioneeHolder’s employment with the Company or any of its Subsidiaries: (1) The Optionee Holder knowingly participated in misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee Holder or of the Always Honest compliance Code of Conduct program or similar program of the Company; or (2) The Optionee was aware of and failed to report, as required by any code of ethics of the Company applicable to the Optionee Holder or by the Always Honest compliance Code of Conduct program or similar program of the Company, misconduct that causes a misstatement of the financial statements of the Company or any of its Subsidiaries or misconduct which represents a material violation of any code of ethics of the Company applicable to the Optionee Holder or of the Always Honest compliance Code of Conduct program or similar program of the Company. (ii) If, at any time after the Optionee Holder exercises this Optionthe SARs, in whole or in part, the Company reasonably determines that the provisions of Section 6(c7(c) applies to the Optioneeholder, then any gain (without regard to tax effects) realized by the Optionee Holder from such exercise shall be paid by the Optionee Holder to the Company. The Optionee Holder consents to the deduction from any amounts the Company or any of its Subsidiaries owes to the Optionee Holder to the extent of the amounts the Optionee Holder owes the Company under this Section 67.

Appears in 1 contract

Samples: Global Stock Appreciation Right Agreement (Moneygram International Inc)