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Clawback provisions, often found in executive compensation agreements or incentive plans, are contractual clauses that allow a company to recover previously disbursed compensation or benefits under certain circumstances.
Clawback provisions, often found in contracts or agreements, are clauses that enable a party to reclaim previously disbursed compensation or benefits under specific circumstances. These provisions are designed to address situations where the recipient of compensation engages in conduct that is detrimental to the interests of the party providing the compensation.
Clawback provisions can be implemented in various contexts, including executive compensation agreements, incentive plans, investment contracts, and employment agreements.
Dalam ekuitas swasta, ketentuan clawback adalah klausul kontrak yang biasanya disertakan dalam perjanjian kemitraan terbatas antara dana ekuitas swasta dan investor mereka. Ketentuan ini dirancang untuk memastikan distribusi keuntungan yang adil dan melindungi kepentingan investor.
Ketentuan clawback yang umum dalam ekuitas swasta menetapkan bahwa jika mitra umum (perusahaan ekuitas swasta) telah menerima kelebihan distribusi keuntungan selama masa hidup dana, di luar bagian yang menjadi haknya berdasarkan pengaturan pembagian keuntungan yang telah disepakati, mereka mungkin diminta untuk "mencakar kembali" atau mengembalikan kelebihan distribusi tersebut ke dana untuk didistribusikan kembali kepada mitra terbatas.
Best practices for clawback provisions include:
Organizations implement clawback provisions for several reasons:
Managing clawback provisions effectively involves several key steps:
Clawback provisions in employment contracts typically refer to clauses that allow employers to recover previously disbursed compensation or benefits from employees under specific circumstances.
These provisions are often designed to address situations where an employee engages in misconduct or breaches contractual obligations, resulting in financial harm to the employer. The specifics of clawback provisions in employment contracts can vary widely depending on the industry, employer policies, and legal requirements.
These provisions may outline conditions under which the employer can reclaim bonuses, incentives, stock options, or other forms of compensation previously awarded to the employee.
Yes, stock can be issued with a clawback provision. In fact, many organizations include clawback provisions in their stock-based compensation plans to align the interests of executives and employees with the long-term success of the company and to mitigate risks associated with unethical behavior or poor performance.
Clawback provisions related to stock typically allow the company to reclaim shares or the proceeds from the sale of shares under specific circumstances, such as financial restatements, misconduct, or failure to meet performance targets.
These provisions help promote accountability, transparency, and responsible stewardship of shareholder interests.