Forfeiture Recovery of Compensation Clause Example from Business Contracts

Forfeiture Recovery of Compensation. By accepting the Stock Option, the Participant expressly acknowledges and agrees that the Participant's rights, and those of any permitted transferee, with respect to the Stock Option, including the right to any Shares acquired under the Stock Option or proceeds from the disposition thereof, are subject to Section 6(a)(5) of the Plan (including any successor provision). The Participant further agrees to be bound by the terms of any clawback or recoupment policy of the Company that applies to inc...entive compensation that includes Awards such as the Stock Option. Nothing in the preceding sentence will be construed as limiting the general application of Section 8 of this Agreement. View More