RECOUPMENT OF AWARDS. The Human Resources and Compensation Committee of the Company’s Board of Directors adopted a recoupment policy on June 18, 2009 (the “Policy”), that may require members of senior management to return incentive compensation if there is a material restatement of the financial results upon which the compensation was originally based. The Policy also provides for recovery of incentive compensation from any employee involved in fraud or intentional misconduct, whether or not it results in a restatement of the Company’s financial results. Recipient acknowledges and agrees that the Policy applies to RSUs and that any payments or issuances of Common Stock with respect to RSUs are subject to recoupment pursuant to the Policy, including any amendments to the Policy and any recoupment obligations imposed by applicable law or regulation. This Agreement shall be deemed to include the restrictions imposed by the Policy.
RECOUPMENT OF AWARDS. All Shares, including Shares that have vested in accordance with Section 2 of this Agreement, shall be subject to the terms and conditions, if applicable, of any recoupment policy adopted by the Company pursuant to the requirements of Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act or other law or the listing requirements of any national securities exchange on which the common stock of the Company is listed.
RECOUPMENT OF AWARDS. The Human Resources and Compensation Committee of the Company’s Board of Directors adopted a recoupment policy on June 18, 2009 (the “Policy”), that may require members of senior management to return incentive compensation if there is a material restatement of the financial results upon which the compensation was originally based. The Policy also provides for recovery of incentive compensation from any employee involved in fraud or intentional misconduct, whether or not it results in a restatement of the Company’s financial results. Recipient acknowledges and agrees that the Policy applies to the Performance Share Award and that any payments or issuances of Shares are subject to recoupment pursuant to the Policy, including any amendments to the Policy and any recoupment obligations imposed by applicable law or regulation. This Agreement shall be deemed to include the restrictions imposed by the Policy.
RECOUPMENT OF AWARDS. The Human Resources and Compensation Committee of the Company’s Board of Directors adopted a recoupment policy on June 18, 2009 (the “Policy”), that may require members of senior management to return incentive compensation if there is a material restatement of the financial results upon which the compensation was originally based. The Policy also provides for recovery of incentive compensation from any employee involved in fraud or intentional misconduct, whether or not it results in a restatement of the Company’s financial results. Optionee acknowledges and agrees that the Policy applies to the Option and that any payments or issuances of Stock with respect to the Option are subject to recoupment pursuant to the Policy. This Agreement shall be deemed to include the restrictions imposed by the Policy.
RECOUPMENT OF AWARDS. The Option shall be subject to the forfeiture and recoupment provisions of Section 10(a) of the Plan.
RECOUPMENT OF AWARDS. The Participant, if subject to Xxxxx’x Executive Compensation Recoupment Policy, as amended from time to time, agrees that the Award granted under this Award Agreement is subject to the terms and conditions of such Executive Compensation Recoupment Policy.
RECOUPMENT OF AWARDS. The Human Resources and Compensation Committee of the Company’s Board of Directors intends to adopt a recoupment policy (the “Policy”), that may require members of senior management to return incentive compensation if there is a material restatement of the financial results upon which the compensation was originally based. By accepting the Option granted hereunder, Optionee expressly agrees to be bound by the Policy when adopted without payment of any additional consideration by Optionee. The Policy will also provide for recovery of incentive compensation from any employee involved in fraud or intentional misconduct, whether or not it results in a restatement of the Company’s financial results. Optionee acknowledges and agrees that the Policy will be treated as though it had been incorporated into this Agreement ab initio and that any payments or issuances of Stock with respect to the Option will be subject to recoupment pursuant to the Policy, including any amendments to the Policy and any recoupment obligations imposed by the Human Resources and Compensation Committee or by applicable law or regulation.
RECOUPMENT OF AWARDS. The Option, including any portion that has vested in accordance with Section 3 of this Agreement, shall be subject to the terms and conditions, if applicable, of any recoupment policy adopted by the Company pursuant to the requirements of Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act or other law or the listing requirements of any national securities exchange on which the common stock of the Company is listed.
RECOUPMENT OF AWARDS. The Company will recoup incentive-based compensation from executive officers to the extent required under the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act and any rules, regulations and listing standards that may be issued under that act. Any right of recoupment under this provision will be in addition to, and not in lieu of, any other rights of recoupment that may be available to the Company. No recovery of compensation under any clawback policy or this Section 20 will be an event giving rise to a right to resign for “good reason” or “constructive termination” (or similar term) under any agreement with the Company or any of its Subsidiaries or Affiliates.
RECOUPMENT OF AWARDS. The Company’s Board of Directors adopted a recoupment policy on April 30, 2009 (the “Policy”), that may require an officer of the Company to return incentive compensation if there is a restatement of the financial results and the Board determines that the restatement was due, in whole or in part, to the fraudulent or intentional misconduct of such officer. Participant acknowledges and agrees that, if Participant is an officer, the Policy applies to this Award Agreement and that any payments or issuances of Common Stock with respect to the Award Agreement may be subject to recoupment pursuant to the terms of the Policy. This Award Agreement shall be deemed to include the restrictions imposed by the Policy. By signing this Award Agreement, the Participant acknowledges acceptance of the terms and conditions set forth herein and in the Plan. PARTICIPANT CORNELL COMPANIES, INC. By: Name: Xxxxxxx X. Xxxxxx Title: Senior Vice President Chief Administrative Officer
