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The term clawback or claw back refers to any money or benefits that have been given out, but are required to be returned (clawed back) due to special circumstances or events, such as the monies having been received as the result of a financial crime, or where there is a clawback provision in the executive compensation contract.
When liquidating the fund, if the LPs were distributed less than the agreed preferred return, they claw back the missing amount from the carried interest distributed to the GP. [5] [6] The clawback clause is triggered at the very end of the fund, at a time where the General Partner may have already put the clawback amount to other use.
Overage or land-sale overage (also called “claw back”) is a term in land sales used to describe a sum of money in addition to the original sale price which a seller of land may be entitled to receive following completion if and when the buyer complies with agreed conditions.
Wall Street "pay czar" Kenneth Feinberg will ask several financial firms to strengthen so-called clawback provisions, but will not force them to recover bonuses paid at the height of the financial ...
Now Social Security can take steps to try to claw back overpaid benefits. But as of last summer, it had an uncollected overpayment balance of $23 billion. But the problem with overpayments isn't ...
The pandemic hit many Americans right where it hurts -- in their wallets. "Hitting rock bottom financially is something many people fear -- and understandably so," said Kate S. Mielitz, Ph.D., AFC ...
Deferring realisation of the reward for one or more years gives the Board more ability to re-capture the reward in such circumstances. Technically recapturing deferred STI before it vests is a "malus" rather than a clawback. As an alternative to simple vested restricted stock, companies have been adding performance type features to their grants ...
“If you’re going to claw back money based on the perception it’s going to a competitor of your co-chair, that will end up delegitimizing your place in this whole system,” the auto industry ...