Clawback clause
Clawback clause

The following Share Incentives guidance note provides comprehensive and up to date legal information covering:

  • Clawback clause

Produced in partnership with Sam Whitaker of Shearman & Sterling LLP

  1. 1

    If, at any time in the [three] years following the payment of a bonus to you, the [Board OR Remuneration Committee] determines in its absolute discretion that any of the events specified in sub-clauses 1.1 to 1.4 of this clause have occurred, it may require reimbursement by you of all or part of the relevant bonus payment made to you (whether or not you are still in employment with the Company or any other Group Company), such reimbursement to be implemented in accordance with clause 2:

    1. 1.1

    2. [the Company or any other Group Company having to restate all or a portion of its financial statements to a material degree OR your gross negligence, fraud, dishonesty or other misconduct has caused or contributed to the Company or any other Group Company having to restate all or a portion of its financial statements to a material degree];

    3. 1.2

    4. your gross negligence, fraud, dishonesty or other misconduct or you having committed any other act or omission which would entitle (or, where your employment has terminated prior to the date on which the