Recoupment Provision. In the event of a restatement of the Company’s consolidated financial statements that is caused, in whole or in part, by the intentional misconduct of the Executive, the Company may take one or more of the following actions with respect to the Option, as determined by the Compensation Committee of the Board (the “Compensation Committee”) in its sole discretion, and the Executive shall be bound by such determination: (a) cancel all or a portion of the Option, whether vested or unvested; and (b) require repayment of all or any portion of the amounts realized or received by the Executive resulting from the exercise of all or any portion of the Option or the sale of Shares related to the Option.
Appears in 3 contracts
Sources: Non Qualified Stock Option Agreement (Target Corp), Non Qualified Stock Option Agreement (Target Corp), Non Qualified Stock Option Agreement (Target Corp)