Common use of RECEIPT OF PAYMENTS AND BENEFITS FROM THIRD PARTIES Clause in Contracts

RECEIPT OF PAYMENTS AND BENEFITS FROM THIRD PARTIES. Subject to any written regulations issued by the Company which may be applicable, neither the Executive nor any member of his family nor any company nor any business entity in which the Executive or any of them has an interest, shall be entitled to receive or obtain directly or indirectly any payment, discount, rebate, commission or other benefit from third parties in respect of any business transacted (whether or not by the Executive) by or on behalf of any member of the Group. If the Executive, any member of his family or any company or any business entity in which the Executive or any of them has an interest shall directly or indirectly obtain any such payment, discount, rebate, commission or other benefit, the Executive shall forthwith disclose this to the Company and, unless the Company agrees otherwise, account to the Company or the relevant member of the Group for the amount received or the value of the benefit so obtained.