Common use of Policies and Restrictions Clause in Contracts

Policies and Restrictions. Notwithstanding any other provision of this Agreement to the contrary, any NSOs granted hereunder or any shares of Common Stock issued upon exercise of an NSO, as well as any cash or stock dividends received in connection with shares of Common Stock issued hereunder, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of any recoupment/claw back policy maintained by the Company, any trading policy restrictions and/or any hedging/pledging policy restrictions (the “Policies”). In addition, the Participant agrees and consents to the Company’s application, implementation and enforcement of (a) the Policies 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 Policies, any similar policy (as applicable to the Participant) or any amendments that may be made from time to time in the future by the Company, in its discretion, without further consent or action being required by the Participant. To the extent that the terms of this Agreement and any of the Policies or any similar policy conflict, then the terms of such policy shall prevail.

Appears in 2 contracts

Sources: Non Statutory Stock Option Award Agreement (ECB Bancorp, Inc. /MD/), Non Statutory Stock Option Award Agreement (ECB Bancorp, Inc. /MD/)

Policies and Restrictions. Notwithstanding any other provision of this Agreement to the contrary, any NSOs ISOs granted hereunder or any shares of Common Stock issued upon exercise of an NSOISO, as well as any cash or stock dividends received in connection with shares of Common Stock issued hereunder, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of any recoupment/claw back policy maintained by the Company, any trading policy restrictions and/or any hedging/pledging policy restrictions (the “Policies”). In addition, the Participant agrees and consents to the Company’s application, implementation and enforcement of (a) the Policies 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 Policies, any similar policy (as applicable to the Participant) or any amendments that may be made from time to time in the future by the Company, in its discretion, without further consent or action being required by the Participant. To the extent that the terms of this Agreement and any of the Policies or any similar policy conflict, then the terms of such policy shall prevail.

Appears in 1 contract

Sources: Incentive Stock Option Award Agreement (ECB Bancorp, Inc. /MD/)

Policies and Restrictions. Notwithstanding any other provision of this Agreement to the contrary, any NSOs granted hereunder or Share issued pursuant to this RSU Award, and/or any shares amount received with respect to any sale of Common Stock issued upon exercise of an NSO, any vested Shares as well as any cash or stock dividends received in connection with shares of Common Stock issued hereunder, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of any recoupment/claw back policy maintained by the Company, any trading policy restrictions and/or any hedging/pledging policy restrictions (the “Policies”). In addition, the Participant agrees and consents to the Company’s application, implementation and enforcement of (a) the Policies 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 Policies, any similar policy (as applicable to the Participant) or any amendments that may be made from time to time in the future by the Company, in its discretion, without further consent or action being required by the Participant. To the extent that the terms of this Agreement and any of the Policies or any similar policy conflict, then the terms of such policy shall prevail.

Appears in 1 contract

Sources: Restricted Stock Unit Agreement (Shore Bancshares Inc)

Policies and Restrictions. Notwithstanding any other provision of this Agreement to the contrary, any NSOs granted hereunder or Share issued pursuant to this PSU Award, and/or any shares amount received with respect to any sale of Common Stock issued upon exercise of an NSO, any vested Shares as well as any cash or stock dividends received in connection with shares of Common Stock issued hereunder, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of any recoupment/claw back policy maintained by the Company, any trading policy restrictions and/or any hedging/pledging policy restrictions (the “Policies”). In addition, the Participant agrees and consents to the Company’s application, implementation and enforcement of (a) the Policies 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 Policies, any similar policy (as applicable to the Participant) or any amendments that may be made from time to time in the future by the Company, in its discretion, without further consent or action being required by the Participant. To the extent that the terms of this Agreement and any of the Policies or any similar policy conflict, then the terms of such policy shall prevail.

Appears in 1 contract

Sources: Performance Stock Unit Agreement (Shore Bancshares Inc)