Clawback Provision definition

Clawback Provision means a term of an Award under which an Award may or shall be canceled, forfeited, reduced, or subject to recovery by the Company, whether or not the Award has been vested, distributed, or paid. For the avoidance of doubt, any Award granted under the Plan may include one or all of the clawback provisions described in Section 2.02 of the DIRAP.
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Clawback Provision means a provision sometimes included in an economic development agreement whereby the local governmental entity may require the developer to pay back part or all of an incentive if the developer fails to satisfy specified commitments (such as a commitment to create a minimum number of jobs) made in the economic development agreement.
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Clawback Provision has the meaning given to it in paragraph 12 of Schedule 5;
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Examples of Clawback Provision in a sentence

  • No recovery of compensation under such a Clawback Provision will be an event giving rise to a right to resign for “good reason” or “constructive termination” (or similar term) under any agreement with the Company.

  • Accordingly, to the extent of any inconsistency between this Policy and of the Xxxx-Xxxxx Clawback Provision, the Xxxx-Xxxxx Clawback Provision shall prevail.

  • The Committee may suspend the vesting, payment, or distribution of any Award pending an investigation into whether the Participant has engaged in conduct that would prevent an Award from vesting under the Vesting Conditions, or subject the Award to forfeiture pursuant to a Clawback Provision.

  • The Award and any amount or benefit received under the Plan shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of the Company’s Clawback Provision Policy as amended from time to time or any other applicable Company clawback policy (the “Policy”) or any applicable law, as may be in effect from time to time.

  • Clawback Provision The Performance Stock Units and any financial gain thereof will be subject to recoupment in accordance with any clawback policy adopted by the Company, including any clawback policy that is required to be adopted pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act or other Applicable Laws.

  • As of March 12, 2010 the Clawback Provision is estimated to be a liability of $2.1 million.

  • No recovery of compensation under any Clawback Provision or otherwise, including under the Policy, will be an event that triggers or contributes to any right of a Participant to resign for “good reason” or “constructive termination” (or similar term) under any agreement with the Company or a Subsidiary or Parent of the Company.

  • In addition, to the extent that the governing laws and/or regulations that relate to the concept of a "Clawback Provision" change or are revised such that they apply to the Company, such change or revision shall be hereby incorporated with no further action required, ab initio.10.Amendment/Termination of PlanThe Plan may be amended and shall be interpreted by the Committee, and its interpretation shall be final and binding on participant and all other parties of interest.

  • The value of the Clawback Provision liability is calculated as the present value of the estimated payment to the FDIC in the tenth year using the formula provided in the Old Southern Agreement.

  • FDIC Clawback Provision - The Old Southern Agreement allows the FDIC to recover a portion of the loss share funds previously paid out under the indemnification agreement in the event losses fail to reach the expected loss level under a claw back provision (“Clawback Provision”).


More Definitions of Clawback Provision

Clawback Provision means Finance Xxx 0000 Section 111; Finance Xxx 0000 Section 113; Finance Xxx 0000 Schedule 35 paragraph 3; Schedule 35 paragraph 4; Finance Xxx 0000 Schedule 7 paragraph 3; Finance Xxx 0000 Schedule 7 paragraph 4(7); Finance Xxx 0000 Schedule 7 paragraph 9; and Finance Xxx 0000 Schedule 7 paragraph 11; and
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Clawback Provision means any provision of any annual bonus, Bonus Plan, LT Award, or LT Award plan providing for or requiring recovery from a Participant by the Company or other member of the Company Group of any amount paid or securities issued to the Participant.
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Clawback Provision means a term of an Award under which an Award may or shall be canceled, forfeited, reduced, or subject to recovery by the Company, whether or not the Award has been vested, distributed, or paid.
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Clawback Provision means FA 2002 Section 111; FA 2002 Section 113; FA 2002 Schedule 35 paragraph 3; Schedule 35 paragraph 4; FA 2003 Schedule 7 paragraph 3; FA 2003 Schedule 7 paragraph 4(7); FA 2003 Schedule 7 paragraph 9; and FA 2003 Schedule 7 paragraph 11;
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Related to Clawback Provision

  • Clawback Period means, with respect to any Accounting Restatement, the three completed fiscal years of the Company immediately preceding the Restatement Date (as defined below), and if the Company changes its fiscal year, any transition period of less than nine months within or immediately following those three completed fiscal years.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Equity Plan means any stock or equity purchase plan, restricted stock or equity plan or other similar equity compensation plan now or hereafter adopted by the Partnership or the General Partner, including the Plan.

  • Notification of Award/Letter of Award means the formal award by the Employer of the Bid incorporating any adjustments or variation to the Bid agreed between the Employer and the Contractor.

  • Mandatory Policies means the following of our business policies and codes:

  • Award Certificate means a written or electronic document setting forth the terms and provisions applicable to an Award granted under the Plan. Each Award Certificate is subject to the terms and conditions of the Plan.

  • Restricted Stock Unit Agreement means the agreement consistent with the terms of the Plan between the Company and the recipient of a Restricted Stock Unit that contains the terms, conditions and restrictions pertaining to such Restricted Stock Unit.

  • Equity Awards will mean Executive’s outstanding stock options, stock appreciation rights, restricted stock units, performance shares, performance stock units and any other Company equity compensation awards.

  • Security Based Compensation Arrangement means a stock option, stock option plan, employee stock purchase plan or any other compensation or incentive mechanism involving the issuance or potential issuance of Shares to Directors, officers, Employees and/or service providers of the Corporation or any subsidiary of the Corporation, including a share purchase from treasury which is financially assisted by the Corporation by way of a loan, guarantee or otherwise;