Company Clawback Rights definition

Company Clawback Rights shall be defined as follows: In the event that the Company shall restate or revise any previously announced prior period earnings or other results upon which any Annual Incentive Compensation to Executive shall have been determined (a “Restatement”), any Annual Incentive Compensation resulting from such earnings or results shall be adjusted to retroactively take into account the restated or revised earnings or results, and any excess Annual Incentive Compensation resulting from such restated or revised earnings or results shall be immediately surrendered to the Company. The Company shall have the right to take any and all action to effectuate the Company Clawback Rights without further action by Executive, by way of setoff. All determinations by the Compensation Committee with respect to the Clawback Rights shall be final and binding on the company and Executive. The parties acknowledge it is their intention that the foregoing Clawback Rights as related to Restatements conform in all respects to the provisions of the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act of 2010 (the “Xxxx Xxxxx Act”) relating to recovery of all ‘incentive-based” compensation, pursuant to the provisions of the Xxxx Xxxxx Act and any and all rules and regulations promulgated thereunder from time to tome in effect. Accordingly, the terms and provisions of this Agreement shall be deemed automatically amended from time to time to assure compliance with the Xxxx Xxxxx Act and such rules and regulations as hereafter may be adopted and in effect.
Company Clawback Rights shall be defined as follows: In the event that the Company shall restate or revise any previously announced prior period earnings or other results as from which any Annual Bonus to Executive shall have been determined, any Annual Bonus resulting from such earnings or results shall be adjusted to retroactively take into account the restated or revised earnings or results, and any excess Annual Bonus resulting from such restated or revised earnings or results shall be immediately surrendered to the Company. The Company shall have the right to take any and all action to effectuate the Company Clawback Rights without further action by Executive, by way of setoff.

Examples of Company Clawback Rights in a sentence

  • The Company shall have the right to take any and all action to effectuate the Company Clawback Rights without further action by Executive, by way of setoff.

  • The Annual Bonus shall be subject to the Company Clawback Rights (as defined below).

  • Annual Incentive Compensation shall be subject to the Company Clawback Rights (as defined below).

  • Notwithstanding anything contained in this paragraph, in the event that the Xxxx-Xxxxx Act is repealed or amended to delete the provisions with which this paragraph is intended to comply, then no compliance herewith shall be required and no part of Executive’s compensation shall remain subject to the Company Clawback Rights.

  • Annual Incentive Compensation, if any, shall be subject to the Company Clawback Rights (as defined below).

  • The Company shall have the right to take any and all action to effectuate the Company Clawback Rights without further action by Executive by way of setoff.

  • The Company shall have the right to take any and all action to effectuate the Company Clawback Rights without further action by Employee, by way of setoff.

  • Notwithstanding anything to the contrary contained in this Agreement, the CIC Bonus shall be deemed fully earned and payable as of the Effective Date, and such CIC Bonus shall (i) not be subject to the Company Clawback Rights in Section 4.10 and (ii) be paid in accordance with this section even if the Executive’s employment with the Company is terminated for any reason.

  • The Company shall reasonably coordinate with Executive any and all action to effectuate the Company Clawback Rights.

  • The Shares shall be subject to the Company Clawback Rights and the additional Share Clawback Rights (as defined below).

Related to Company Clawback Rights

  • Parent Equity Awards means Parent Options, Parent DSU Awards and Parent PSU Awards.

  • Company Stock Plan means any stock option plan or other stock or equity-related plan of the Company.

  • Company Stock Option means any option to purchase one or more shares of the Company’s Common Stock granted under any of the Company Stock Plans.

  • Company Stock Options shall have the meaning given to such term in Section 3.3(a) hereof.

  • Parent Equity Plan means the Energy Transfer Equity, L.P. Long-Term Incentive Plan.

  • RSU Plan means the restricted share unit plan of the Company;

  • DSUs means the outstanding deferred share units issued under the DSU Plan.

  • Company Stock Plans has the meaning set forth in Section 3.02(b).

  • Unvested Company Option means any Company Option that is not a Vested Company Option.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Company RSU Award means an award of restricted stock units relating to shares of Company Common Stock granted under a Company Equity Incentive Plan (including any dividend equivalent units credited thereon).

  • 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).

  • Company Stock Option Plans shall have the meaning set forth in Section 3.07(a).

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of immediately prior to the Effective Time or will vest solely as a result of the consummation of the Merger.

  • Deferred Stock Unit means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

  • Stock Rights means all dividends, instruments or other distributions and any other right or property which the Grantors shall receive or shall become entitled to receive for any reason whatsoever with respect to, in substitution for or in exchange for any Equity Interest constituting Collateral, any right to receive an Equity Interest and any right to receive earnings, in which the Grantors now have or hereafter acquire any right, issued by an issuer of such Equity Interest.

  • Company Stock Option Plan means each share option plan, share award plan, share appreciation right plan, phantom share plan, share option, other equity or equity-based compensation plan, equity or other equity based award to any employee, whether payable in cash, shares or otherwise (to the extent not issued pursuant to any of the foregoing plans), or other plan or contract of any nature with any employee pursuant to which any share, option, warrant or other right to purchase or acquire shares of the Company or right to payment based on the value of Company shares has been granted or otherwise issued.

  • Parent Equity Plans means all employee and director equity incentive plans of Parent and agreements for equity awards in respect of Parent Common Stock granted under the inducement grant exception.

  • Company Equity Awards means the Company RSU Awards and the Company PSU Awards.

  • Clawback Amount has the meaning set forth in Section 6.05.

  • Deferred Stock Award means Awards granted pursuant to Section 8.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • RSU Award or “RSU” means an Award of restricted stock units representing the right to receive an issuance of shares of Common Stock which is granted pursuant to the terms and conditions of Section 5(a).

  • DSU Plan means the Deferred Share Unit Plan of the Corporation.

  • 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.

  • Unvested LTIP Units has the meaning provided in Section 4.4(d) hereof.