Clawback/Repayment Contract Clauses (37)

Grouped Into 2 Collections of Similar Clauses From Business Contracts

This page contains Clawback/Repayment clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Clawback/Repayment. Notwithstanding anything to the contrary contained herein, in consideration of the grant of this Award, you agree that you are a Covered Employee under the AIG Clawback Policy with respect to this Award and any payments hereunder and, accordingly, this Award and any payments hereunder will be subject to forfeiture and/or repayment to the extent provided for in the AIG Clawback Policy, as in effect from time to time if it is determined that a Covered Event (as defined in such Policy) has occurred.... With respect to this Award and any payments hereunder, each of the following events is a "Covered Event" for purposes of the Policy: 1. a material restatement of all or a portion of AIG's financial statements occurs and the Board or Committee determines that recovery of payments under this Award is appropriate after reviewing all relevant facts and circumstances that contributed to the restatement, including whether you engaged in misconduct, and considering issues of accountability; 2. payments under this Award were based on materially inaccurate financial statements or on performance metrics that are materially inaccurately determined, regardless of whether you were responsible for the inaccuracy; 3. your failure to properly identify, assess or sufficiently raise concerns about risk, including in a supervisory role, resulted in a material adverse impact on AIG, any of AIG's business units or the broader financial system; 4. any action or omission by you constituted a material violation of AIG's risk policies as in effect from time to time; or 5. any action or omission by you resulted in material financial or reputational harm to AIG. View More
Found in American International Group contract
Clawback/Repayment. Notwithstanding anything to the contrary contained herein, in consideration of the grant of this Award, you agree that you are a Covered Employee under the AIG Corebridge Financial, Inc. Clawback Policy with respect to this Award and any payments hereunder and, accordingly, this Award and any payments hereunder will be subject to forfeiture and/or repayment to the extent provided for in the AIG Corebridge Financial, Inc. Clawback Policy, as in effect from time to time if it is determined that a ...Covered Event (as defined in such Policy) has occurred. With respect to this Award and any payments hereunder, each of the following events is a "Covered Event" for purposes of the Policy: 1. a material restatement of all or a portion of AIG's Corebridge's financial statements occurs and the Board or Committee determines that recovery of payments under this Award is appropriate after reviewing all relevant facts and circumstances that contributed to the restatement, including whether you engaged in misconduct, and considering issues of accountability; 2. payments under this Award were based on materially inaccurate financial statements or on performance metrics that are materially inaccurately determined, regardless of whether you were responsible for the inaccuracy; 3. your failure to properly identify, assess or sufficiently raise concerns about risk, including in a supervisory role, resulted in a material adverse impact on AIG, Corebridge, any of AIG's Corebridge's business units or the broader financial system; 4. any action or omission by you constituted a material violation 1 Note to Draft: Subject to adoption of AIG's risk policies as in effect from time to time; or 5. any action or omission by you resulted in material financial or reputational harm to AIG. ESP. View More
Found in SAFG Retirement Services, Inc. contract
Clawback/Repayment. Notwithstanding anything to the contrary contained herein, in consideration of the grant of this an Incentive Award, you agree that you are a Covered Employee under the AIG Clawback Policy with respect to this Award award and any payments hereunder and, accordingly, under this Award and any payments hereunder Plan will be subject to forfeiture and/or repayment to the extent provided for in the AIG Clawback Policy, as in effect from time to time. In particular, for purposes of this Plan effective... March 10, 2015, any Participant who is in grade level 27 or above will be a "Covered Employee" under the AIG Clawback Policy and any award and payments to such Participant under this Plan will be subject to forfeiture and/or repayment to the extent provided for in the AIG Clawback Policy, as in effect from time to time, if it is determined in accordance with the AIG Clawback Policy that a Covered Event (as defined in such Policy) has occurred. With respect to this Award and any payments hereunder, each of the following events is have occurred (each such event, a "Covered Event" for purposes of the Policy: 1. AIG Clawback Policy): -3- A. a material restatement of all or a portion of AIG's financial statements occurs and the Board or Committee determines that recovery of payments under this Award the award is appropriate after reviewing all relevant facts and circumstances that contributed to the restatement, including whether you the Participant engaged in misconduct, and considering issues of accountability; 2. B. payments under this Award the award were based on materially inaccurate financial statements or on performance metrics that are materially inaccurately determined, regardless of whether you were the Participant was responsible for the inaccuracy; 3. your C. the Participant's failure to properly identify, assess or sufficiently raise concerns about risk, including in a supervisory role, resulted in a material adverse impact on AIG, any of AIG's business units or the broader financial system; 4. D. any action or omission by you the Participant constituted a material violation of AIG's risk policies as in effect from time to time; or 5. E. any action or omission by you the Participant resulted in material financial or reputational harm to AIG. View More
Found in American International Group contract
View Variations (2)
Clawback/Repayment. All RSUs shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with (1) any clawback, 4 forfeiture or other similar policy adopted by the Board or the Committee and as in effect from time to time, and (2) applicable law. The Committee may also provide that if the Participant receives any amount in excess of the amount that the Participant should have otherwise received under the terms of the RSUs for any reason (including, without limitation, by ...reason of a financial restatement, mistake in calculations or other administrative error), the Participant shall be required to repay any such excess amount to the Company. View More
Found in Acushnet Holdings Corp. contract
Clawback/Repayment. All RSUs This Option Agreement shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with (1) (i) any clawback, 4 forfeiture or other similar policy adopted by the Board or the Committee and as in effect from time to time, time; and (2) (ii) applicable law. The Committee may also provide that In addition, if the Participant receives any amount in excess of the amount that what the Participant should have otherwise received under the terms of the ...RSUs this Option Agreement for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations or other administrative error), then the Participant shall be required to repay any such excess amount to the Company. View More
Found in SeaWorld Entertainment, Inc. contract
Clawback/Repayment. All RSUs shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with (1) any clawback, 4 forfeiture or other similar policy adopted by the Board or the Committee and as in effect from time to time, and (2) applicable law. The Committee may also provide that if the Participant receives any amount in excess of the amount that the Participant should have otherwise received under the terms of the RSUs for any reason (including, without limitation, by ...reason of a financial restatement, mistake in calculations or other administrative error), the Participant shall be required to repay any such excess amount to the Company. 4 11. Detrimental Activity. Notwithstanding anything to the contrary contained in the Plan, the Grant Notice or this Restricted Stock Unit Agreement, if a Participant has engaged or engages in any Detrimental Activity, the Committee may, in its sole discretion, (1) cancel any or all of the RSUs, and/or (2) require the Participant to forfeit any after-tax gain realized on the vesting of such RSUs, and to repay the gain promptly to the Company. View More
Found in KKR Real Estate Finance Trust Inc. contract
View Variations (2)