Compensation Restrictions under CPP Clause Samples
The 'Compensation Restrictions under CPP' clause sets limits on the types or amounts of compensation that can be paid to individuals or entities under the Canada Pension Plan (CPP). Typically, this clause outlines specific caps, exclusions, or conditions under which compensation may be granted, such as prohibiting certain bonuses or restricting payments above a defined threshold. Its core function is to ensure compliance with statutory requirements and to prevent misuse or overpayment of CPP funds, thereby protecting the integrity of the pension system.
Compensation Restrictions under CPP. Anything in this Agreement to the contrary notwithstanding, because HF Financial Corp. is participating in the capital purchase program (“CPP”) of the United States Treasury Department (“Treasury”) established under the Emergency Economic Stabilization Act of 2008 (“EESA”), compensation to the Employee shall be restricted as follows: