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The term clawback or claw back refers to any money or benefits that have been given out, but are required to be returned (clawed back) due to special circumstances or events, such as the monies having been received as the result of a financial crime, or where there is a clawback provision in the executive compensation contract.
Under the faithless servant doctrine, which is a doctrine under the laws of a number of states in the United States, and most notably New York State law, an employee who acts unfaithfully towards his or her employer must forfeit all compensation received during the period of disloyalty, which compensation is subject to clawback by the employer.
Disgorgement is the act of giving up something on demand or by legal compulsion, for example giving up profits that were obtained illegally. [1]In United States regulatory law, disgorgement is often a civil remedy imposed by some regulatory agencies to seize illegally obtained profits.
Wall Street "pay czar" Kenneth Feinberg will ask several financial firms to strengthen so-called clawback provisions, but will not force them to recover bonuses paid at the height of the financial ...
Restricted stock is an increasingly common element of the Short Term Incentive (STI). The STI is often dependent on performance against Key Performance Indicators, which are reported to the Board by management. There is increasing shareholder lobbying for "clawback" provisions to enable the company to recapture rewards that were improperly ...
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The following pages contain lists of legal terms: List of Latin legal terms; List of legal abbreviations; List of legal abbreviations (canon law) on Wiktionary: Appendix: English legal terms; Appendix: Glossary of legal terms
The United States has take steps in response to Chinese-linked cyber-espionage operations against U.S. telecoms firms, U.S. national security adviser Jake Sullivan said on Friday. U.S. telecoms ...