Common use of Recoupment Determination Process Clause in Contracts

Recoupment Determination Process. Insys shall initiate the Recoupment Determination process within 30 days after discovery by Insys, or notification pursuant to Paragraph D(i), of a potential Triggering Event. Absent extraordinary reasons, the Recoupment Committee shall reach a Recoupment Determination within 90 days after initiation of the determination process. As part of the Recoupment Determination process, the Recoupment Committee or appropriate Delegate (as defined below) shall: i) undertake an appropriate and substantive review or investigation of the facts and circumstances associated with the Triggering Event or any written notifications about potential Triggering Events received pursuant to Paragraph D(i) above; ii) make written findings regarding the facts and circumstances associated with the Triggering Event and any written notifications about potential Triggering Events received pursuant to Paragraph D(i) above; and iii) set forth in writing its determinations (and the rationale for such determinations) about: 1) whether a Triggering Event occurred; 2) the extent of Cash Awards or Equity Awards (collectively “Awards”) that will be subject to forfeiture and/or repayment by the Eligible Individual, if any; 3) the means that will be followed to implement the forfeiture and/or secure the recoupment of Awards from the Eligible Individual; and 4) the timetables under which Insys will implement the forfeiture and/or attempt to recoup the Awards. For purposes of this Paragraph, a “Delegate” shall refer to the Insys personnel to whom the Recoupment Committee has delegated one or more of its required tasks in furtherance of the Financial Recoupment Program.

Recoupment Determination Process. Insys ABC or an ABC Affiliate shall initiate the Recoupment Determination process within 30 days after discovery by InsysABC or the ABC Affiliate, or notification pursuant to Paragraph D(i), of a potential Triggering Event. Absent extraordinary reasons, the Recoupment Committee shall reach a Recoupment Determination within 90 days after initiation of the determination process. As part of the Recoupment Determination process, the Recoupment Committee or appropriate Delegate (as defined below) shall: i) undertake an appropriate and substantive review or investigation of the facts and circumstances associated with the potential Triggering Event or any written notifications about potential Triggering Events received pursuant to Paragraph D(i) above; ii) make written findings regarding the facts and circumstances associated with the potential Triggering Event and any written notifications about potential Triggering Events received pursuant to Paragraph D(i) above; and iii) set forth in writing its determinations (and the rationale for such determinations) about: 1) whether a Triggering Event occurred; 2) the extent of Cash Awards or Equity Awards (collectively “Awards”) that will be subject to forfeiture and/or repayment by the Eligible Individual, if any; 3) the means that will be followed to implement the forfeiture and/or secure the recoupment of Awards from the Eligible Individual; and 4) the timetables under which Insys ABC and/or the applicable ABC Affiliate will implement the forfeiture and/or attempt to recoup the Awards. For purposes of this Paragraph, a “Delegate” shall refer to the Insys ABC or ABC Affiliate personnel to whom the Recoupment Committee has delegated one or more of its required tasks in furtherance of the Financial Recoupment Program.Program.‌‌