Illegal Remuneration Clause Samples
The Illegal Remuneration clause prohibits any form of payment, compensation, or benefit that is unlawful under applicable laws or regulations. In practice, this means that parties to the agreement must ensure that all financial transactions, incentives, or rewards provided are fully compliant with anti-bribery, anti-kickback, and other relevant legal standards. This clause serves to protect both parties from legal liability by explicitly forbidding illegal payments, thereby promoting ethical conduct and ensuring the agreement does not facilitate or condone unlawful activities.
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Illegal Remuneration. To indemnify Indemnitee in respect to remuneration paid to Indemnitee if it shall be determined by final judgment or final adjudication that such remuneration was in violation of law.
Illegal Remuneration. The Company is committed to compliance with all laws, statutes, and regulations regarding illegal remuneration (kickbacks, bribes, and improper payments). The Company specifically prohibits employees from engaging in any fraudulent, deceptive or corrupt conduct toward the Company, its customers, suppliers, contractors, employees, representatives or anyone else with whom the Company has current of future business associations. Prohibited actions include kickbacks, inflated billing and offering, accepting, or soliciting, directly or indirectly, of money, goods, or services where the purpose of the action is to influence a person to act contrary to the interest of his or her own employer. Company employees may not ask for gifts or gratuities from customers or suppliers of the Company. No employee of the Company will ever offer or receive anything of value with the intent to influence or be influenced by any supplier, customer, government official, candidate, or holder of public office.
Illegal Remuneration. To claims for the return by the Insureds of any remuneration paid in fact to them if payment of such remuneration shall be held by the courts to be in violation of law.