Search results
May 22, 2024 · A clawback is a contractual provision that requires an employee to return money that's already paid by an employer, sometimes with a penalty. Clawbacks act...
CLAWBACK definition: 1. a situation in which a government or company takes back money that it has already paid: 2. a…. Learn more.
The meaning of CLAWBACK is the act or an instance of getting back money or benefits previously given out. How to use clawback in a sentence.
to get possession of something again with difficulty: The airline is beginning to claw back some of the business it lost after the bomb explosion. If the government, for example, claws back money, it takes money back in one way that it has already given in another way:
Clawback is a provision under which money that’s already been paid out must be returned to the employer or the firm. This is a special contractual clause, used mostly in financial firms, for money paid for services to be returned under special circumstances or events as stated in the contract.
Jan 3, 2023 · A clawback is a legal provision that companies use to help them retrieve already distributed money from an employee. For companies to execute a clawback correctly, they need to have a contract with the employee where they include a provision for acceptable clawback scenarios.
Clawback definition: the recovery of previously dispensed or protected money or benefits through a contractual provision or tax law, typically triggered to counter a shortfall in financial performance or offset a liability (often used attributively). See examples of CLAWBACK used in a sentence.
In HR and legal terms, clawback is the practice of recovering money or other assets from an entity or employee who has already received payment. It’s often used to recoup losses from a particular situation, such as fraud or financial mismanagement.
CLAWBACK meaning: 1. a situation in which a government or company takes back money that it has already paid: 2. a…. Learn more.
Clawback is the act of taking back money that has already been paid, or the amount that is taken back. All payouts are subject to clawback and deferral over several years. Senior executives bore the brunt of the bank's bonus clawbacks.
