Forfeiture Recovery of Compensation Clause Example from Business Contracts

This example Forfeiture Recovery of Compensation clause appears in 4 contracts from 2 companies

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). Nothing in the preceding sentence will be construed as limiting the general application of Section 8 of this Agreement.