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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.
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.
Clawback of "faithless servant" employee compensation [ edit ] Under the faithless servant doctrine, which is a doctrine under the laws of a number of states in the United States, and most notably New York State law , an employee who acts unfaithfully towards his or her employer must forfeit all compensation received during the period of ...
It has been just over a year since Public Law 115-97, more informally known as the “Tax Cuts and Jobs Act” (“TCJA”), was enacted. With it came…
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 ...
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By now, you've probably heard of compensation clawbacks, when financial institutions take back pay from employees who are deemed responsible for acts of negligence, or outright illegal behavior.
Ruth Madoff's combined assets with her husband had a net worth of between $823 million and $826 million.She had $92.6 million in assets listed in her own name: [9] the $7 million penthouse on Manhattan's Upper East Side; an $11 million mansion in Palm Beach, Florida; a three-bedroom apartment in Cap d'Antibes on the French Riviera valued at $1.5 million; $45 million in municipal bonds and $17 ...