Recovery of Bonus and Incentive Compensation. Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.
Recovery of Bonus and Incentive Compensation. You will be required to and shall return to the Company any bonus or incentive compensation paid to you by the Company during the CPP Covered Period if such bonus or incentive compensation is paid to you based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.
Recovery of Bonus and Incentive Compensation. To the extent required by Section 111(b) of EESA, any bonus and incentive compensation paid to Executive during any CPP Covered Period is subject to recovery or “clawback” by Employer if such bonus and incentive compensation were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria. Executive acknowledges the foregoing and agrees to repay Employer any bonuses and incentive compensation paid to Executive that were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.
Recovery of Bonus and Incentive Compensation. Any bonus and incentive compensation paid to the Employee during a CPP Covered Period and while the Employee is a senior executive officer is subject to recovery or “clawback” by the Bank if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.
Recovery of Bonus and Incentive Compensation. Any bonus or incentive compensation paid to the Executive under any compensation arrangement between the Executive and the Employer shall be subject to recovery by the Employer and shall be repaid by the Executive to the Employer if, in the judgment of the Employer’s board of directors or the board committee having jurisdiction over executive compensation, the compensation was based on materially inaccurate financial statements or on any other materially inaccurate performance criteria. The compensation shall be repaid by the Executive to the Employer within 30 days after written demand by the Employer or as soon thereafter as is practicable. The Executive’s obligations under this section 1.1 shall survive termination of this Agreement and shall be effective for as long as the Employer is a participant in the CPP, and is subject to applicable CPP rules and guidance. The Executive’s obligations under this section 1.1 shall expire when the Employer is no longer a participant in the CPP, provided that the Executive shall have repaid all amounts for which a repayment demand has been made by the Employer. The bonus and incentive compensation subject to recovery by the Employer under this section 1.1 includes, but is not limited to, cash compensation, stock option or other equity-based compensation, and any other bonus or incentive compensation paid under any compensation arrangement between the Executive and the Employer including, but not limited to, an employment agreement, severance agreement, nonqualified deferred compensation agreement, equity-based award agreement, or short-term or long-term incentive award or performance award arrangement, whether written or unwritten and whether existing on the date of this Agreement or entered into hereafter, (the “Compensation Arrangements”).
Recovery of Bonus and Incentive Compensation. Any bonus, retention award, or incentive compensation paid to the Executive during the TARP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on statements of earnings, revenues, gains, or other criteria that are later found to be materially inaccurate and at the time the bonus, retention award or incentive compensation was paid the Executive was a Senior Executive Officer or Other Highly Compensated Employee. The Executive agrees to return promptly any such bonus, retention award, or incentive compensation identified by the Company. If the Executive fails to properly return such bonus, retention award, or incentive compensation, the Executive hereby agrees that the amount of such bonus, retention award, or incentive compensation may be deducted from any and all other compensation owed to the Executive. The Executive acknowledges that the Company may take appropriate disciplinary action (up to, and including, termination of employment) if the Executive fails to return such bonus, retention award, or incentive compensation.
Recovery of Bonus and Incentive Compensation. If, in the sole judgment of the Bank’s Board of Directors or its Compensation Committee, any payment or benefit paid or provided to Employee under this Agreement that the Board or Committee deems to be a “Bonus” or “Incentive Compensation” (as those terms are defined in the CPP Rules) was based on materially inaccurate financial statements or on any other materially inaccurate performance criteria, that payment or benefit shall not have been earned by Employee, shall be subject to recovery by the Bank or Bancorp, and shall be repaid by Employee to the Bank within 15 days after written demand by the Bank. The Employee’s repayment obligations shall survive termination of this Agreement and shall be effective for as long as Bancorp is subject to applicable CPP Rules.
Recovery of Bonus and Incentive Compensation. Any bonus, retention award or incentive compensation paid to you during the Restricted Period or prior to the Restricted Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate statements of earnings, revenues, gains or other criteria. In such an event, you will be required to and shall return to the Company any bonus, retention award or incentive compensation paid to you by the Company if such bonus, retention award or incentive compensation was paid to you based on materially inaccurate statements of earnings, revenues, gains or other criteria.
Recovery of Bonus and Incentive Compensation. Any bonus and incentive compensation paid to the undersigned SEO during the CPP Covered Period is subject to recovery or clawback by the Company or the Bank if the compensation was based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.
Recovery of Bonus and Incentive Compensation. Any bonus and incentive compensation paid to the Executive during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on statements of earnings, gains or other criteria that are later proven to be materially inaccurate within the meaning of Section 111(b)(2)(B) of EESA. The Executive shall promptly reimburse the Company upon demand for any such payments.
