Recoupment Provision. In the event that Participant commits fraud or engages in intentional misconduct that results in a need for the Company to restate its financial statements, then the Committee may direct the Company to (i) cancel any outstanding portion of the Options and (ii) recover all or a portion of the financial gain realized by Participant through exercise of the Options.
Appears in 4 contracts
Sources: Stock Option Award Agreement (Ingersoll-Rand PLC), Stock Option Award Agreement (Ingersoll-Rand PLC), Stock Option Award Agreement (Ingersoll-Rand PLC)