Common use of Recovery of Payout Clause in Contracts

Recovery of Payout. The Company reserves the right to recover a Performance Grant payout pursuant to this Section 8 by (i) seeking recovery of the payment from the Participant; (ii) reducing the amount that would otherwise be payable to the Participant under another Company benefit plan or compensation program to the extent permitted by applicable law; (iii) withholding future annual and long-term incentive awards or salary increases; or (iv) taking any combination of these actions.

Recovery of Payout. The Company reserves the right to recover a Performance Grant Share Award payout pursuant to this Section 8 by (i) seeking recovery of the payment vested shares from the Participant; (ii) reducing the amount that would otherwise be payable to the Participant under another Company benefit plan or compensation program to the extent permitted by applicable law; (iii) withholding future annual and long-term incentive awards or salary increases; or (iv) taking any combination of these actions.