Common use of Recoupment of Incentive Compensation Policy Clause in Contracts

Recoupment of Incentive Compensation Policy. Notwithstanding any other provision of this Agreement to the contrary, this Option, any shares of Common Stock issued hereunder, and any amount received with respect to any sale of any such shares of Common Stock, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of the Company’s Recoupment of Incentive Compensation Policy, as it may be amended from time to time (the “Policy”). The Optionee agrees and consents to the Company’s application, implementation and enforcement of (a) the Policy and (b) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and expressly agrees that the Company may take such actions as are necessary to effectuate the Policy or applicable law without further consent or action being required by the Optionee. To the extent that the terms of this Agreement and the Policy conflict, then the terms of the Policy shall prevail.

Appears in 2 contracts

Samples: Stock Option Agreement (Pioneer Energy Services Corp), Stock Option Agreement (Pioneer Energy Services Corp)

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Recoupment of Incentive Compensation Policy. Notwithstanding any other provision of this Agreement to the contrary, this OptionRestricted Stock Award, any shares of Common Stock issued hereunder, the Shares and any amount received with respect to any sale of any such shares of Common StockShares, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of the Company’s Recoupment of Incentive Compensation Policy, as it may be amended from time to time (the “Policy”). The Optionee Recipient agrees and consents to the Company’s application, implementation and enforcement of (a) the Policy and (b) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and expressly agrees that the Company may take such actions as are necessary to effectuate the Policy or applicable law without further consent or action being required by the OptioneeRecipient. To the extent that the terms of this Agreement and the Policy conflict, then the terms of the Policy shall prevail.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Pioneer Energy Services Corp)

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Recoupment of Incentive Compensation Policy. Notwithstanding any other provision of this Agreement to the contrary, this OptionAward, any shares of Common Stock issued hereunder, and any amount received with respect to any sale of any such shares of Common Stock, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of the Company’s Recoupment of Incentive Compensation Policy, as it may be amended from time to time (the “Policy”). The Optionee Employee agrees and consents to the Company’s application, implementation and enforcement of (a) the Policy and (b) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and expressly agrees that the Company may take such actions as are necessary to effectuate the Policy or applicable law without further consent or action being required by the OptioneeEmployee. To the extent that the terms of this Agreement and the Policy conflict, then the terms of the Policy shall prevail.

Appears in 1 contract

Samples: Long Term Incentive Restricted Stock Unit Award Agreement (Pioneer Energy Services Corp)

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