Wrongful definition
Examples of Wrongful in a sentence
Therefore, it is the intention of Indemnitor and Indemnitee that this Agreement be liberally construed so as to achieve its purpose of, subject to Section 1 hereof, protecting Indemnitee from and against Losses arising from Wrongful Acts.
If the Participant engages in Wrongful Conduct or if the Participant’s employment is terminated for Cause, the Participant shall pay to the Company in cash any Performance-Based Financial Gain the Participant realized from the lapse of the Restriction Period applicable to all or a portion of the Performance Stock Units having a Vesting Date within the Wrongful Conduct Period.
Notwithstanding anything in this Agreement to the contrary, if the Company determines that the Grantee’s Wrongful Act was a significant contributing factor to the Company or a subsidiary having to restate all or a portion of its financial statements, all outstanding Awarded Shares will immediately and automatically be forfeited and the Grantee shall promptly repay to the Company any Common Stock, cash or other property paid in respect of any Awarded Share during the Recoupment Period.
The Insureds shall include with any such notice of circumstance a description of the circumstances, the nature of any potential Wrongful Act(s), the nature of the alleged or potential damage, the names of actual or potential claimants, and the manner in which the Insureds first became aware of the Wrongful Act(s).
Coverage must be afforded for Wrongful Acts in an amount not less than $1,000,000 each claim and $2,000,000 aggregate.