Common use of Recovery of Incentive Compensation Clause in Contracts

Recovery of Incentive Compensation. In the event Executive receives compensation that was based on financial statements or performance metric criteria that are determined to be materially inaccurate, Executive shall repay the Employer upon demand the amount of the bonus or incentive compensation received by Executive in excess of the amount that would have been paid to Executive had the inaccurate statements or criteria been accurate.

Appears in 7 contracts

Samples: Employment Agreement (Southern States Bancshares, Inc.), Employment Agreement (Southern States Bancshares, Inc.), Employment Agreement (Southern States Bancshares, Inc.)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.