Recovery Process. In the event a Restatement is required, the Board, based upon a recommendation by the Committee, will (a) review the RSUs either granted or vested in whole or in part during the Three-Year Period and (b) in accordance with the provisions of this Agreement and the Plan, will take reasonable action to seek recovery of the amount of such RSUs in excess of what would have been granted to or would have vested for you under the Restatement (but in no event more than the total amount of such RSUs), as such excess amount is reasonably determined by the Board in its sole discretion, in compliance with Section 409A of the Code. There shall be no duplication of recovery under Article 19 of the Plan and any of 15 U.S.C. Section 7243 (Section 304 of The ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002) and Section 10D of the Exchange Act. The clawback provisions of this Agreement are in addition to the forfeiture provisions contained under the heading “Forfeiture of RSUs” above.
Appears in 6 contracts
Sources: Restricted Stock Units Grant Agreement (Babcock & Wilcox Co), Restricted Stock Units Grant Agreement (Babcock & Wilcox Co), Restricted Stock Units Grant Agreement (Babcock & Wilcox Co)
Recovery Process. In the event a Restatement is required, the Board, based upon a recommendation by the Committee, will (a) review the RSUs either granted or vested in whole or in part during the Three-Year Period and (b) in accordance with the provisions of this Agreement and the Plan, will take reasonable action to seek recovery of the amount of such RSUs in excess of what would have been granted to or would have vested for you under the Restatement (but in no event more than the total amount of such RSUs), as such excess amount is reasonably determined by the Board in its sole discretion, in compliance with Section 409A of the Code. There shall be no duplication of recovery under Article 19 20 of the Plan and any of 15 U.S.C. Section 7243 (Section 304 of The ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002) and Section 10D of the Exchange Act. The clawback provisions of this Agreement are in addition to the forfeiture provisions contained under the heading “Forfeiture of RSUs” above.
Appears in 1 contract
Sources: Restricted Stock Units Grant Agreement (Babcock & Wilcox Enterprises, Inc.)
Recovery Process. In the event a Restatement is required, the Board, based upon a recommendation by the Committee, will (a) review the RSUs either granted or vested in whole or in part during the Three-Year Period and (b) in accordance with the provisions of this Agreement and the Plan, will take reasonable action to seek recovery of the amount of such RSUs in excess of what would have been granted to or would have vested for you under the Restatement (but in no event more than the total amount of such RSUs), as such excess amount is reasonably determined by the Board in its sole discretion, in compliance with Section 409A of the Code. There shall be no duplication of recovery under Article 19 20 of the Plan and any of 15 U.S.C. Section 7243 (Section 304 of The ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002) and Section 10D of the Exchange Act. The clawback provisions of this Agreement are in addition to the forfeiture provisions contained under the heading “Forfeiture of Performance RSUs” above.
Appears in 1 contract
Sources: Performance Restricted Stock Units Grant Agreement (Babcock & Wilcox Enterprises, Inc.)
Recovery Process. In the event a Restatement is required, the Board, based upon a recommendation by the Committee, will (ai) review the RSUs either granted or vested in whole or in part during the Three-Year Period and (bii) in accordance with the provisions of this Agreement and the Plan, will take reasonable action to seek recovery of the amount of such RSUs in excess of what would have been granted to or would have vested for you under the Restatement (but in no event more than the total amount of such RSUs), as such excess amount is reasonably determined by the Board in its sole discretion, in compliance with Section 409A of the Code. There shall be no duplication of recovery under Article 19 20 of the Plan and any of 15 U.S.C. Section 7243 (Section 304 of The ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002) and Section 10D of the Exchange Act. The clawback provisions of this Agreement are in addition to the forfeiture provisions contained under the heading “Forfeiture of RSUs” in Section 3 above.
Appears in 1 contract
Sources: Restricted Stock Units Grant Agreement (Babcock & Wilcox Enterprises, Inc.)
Recovery Process. In the event a Restatement is required, the Board, based upon a recommendation by the Committee, will (ai) review the RSUs either granted or vested in whole or in part during the Three-Year Period and (bii) in accordance with the provisions of this Agreement and the Plan, will take reasonable action to seek recovery of the amount of such RSUs in excess of what would have been granted to or would have vested for you under the Restatement (but in no event more than the total amount of such RSUs), as such excess amount is reasonably determined by the Board in its sole discretion, in compliance with Section 409A of the Code. There shall be no duplication of recovery under Article 19 20 of the Plan and any of 15 U.S.C. Section 7243 (Section 304 of The ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002) and Section 10D of the Exchange Act. The clawback provisions of this Agreement are in addition to the forfeiture provisions contained under the heading “Forfeiture of RSUs” in Section 4 above.
Appears in 1 contract
Sources: Restricted Stock Units Grant Agreement (Babcock & Wilcox Enterprises, Inc.)
Recovery Process. In the event a Restatement is required, the Board, based upon a recommendation by the Committee, will (a) review the Performance RSUs either granted or vested in whole or in part during the Three-Year Period and (b) in accordance with the provisions of this Agreement and the Plan, will take reasonable action to seek recovery of the amount of such Performance RSUs in excess of what would have been granted to or would have vested for you under the Restatement (but in no event more than the total amount of such Performance RSUs), as such excess amount is reasonably determined by the Board in its sole discretion, in compliance with Section 409A of the Code. There shall be no duplication of recovery under Article 19 of the Plan and any of 15 U.S.C. Section 7243 (Section 304 of The ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002) and Section 10D of the Exchange Act. The These clawback provisions of this Agreement are in addition to the forfeiture provisions contained under the heading “Forfeiture of RSUsPRSUs” aboveabove and the provisions of Paragraph 9 of the Agreement.
Appears in 1 contract
Recovery Process. In the event a Restatement is required, the Board, based upon a recommendation by the Committee, will (a) review the RSUs either granted or vested in whole or in part during the Three-Year Period and (b) in accordance with the provisions of this Agreement and the Plan, will take reasonable action to seek recovery of the amount of such RSUs in excess of what would have been granted to or would have vested for you under the Restatement (but in no event more than the total amount of such RSUs), as such excess amount is reasonably determined by the Board in its sole discretion, in compliance with Section 409A of the Code. There shall be no duplication of recovery under Article 19 of the Plan and any of 15 U.S.C. Section 7243 (Section 304 of The ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002) and Section 10D of the Exchange Act. The These clawback provisions of this Agreement are in addition to the forfeiture provisions contained under the heading “Forfeiture of RSUs” aboveabove and the provisions of Paragraph 9 of the Agreement.
Appears in 1 contract