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Random Term
Noncompete forfeiture provision

A clause in any type of compensation agreement, whether for NQDC or stock options, that terminates all unvested amounts if you leave the company to work for a competitor or for other specified reasons, such as a financial restatement. Legal victories by companies and new legal requirements (e.g. the Dodd-Frank Act) have boosted the popularity of these recoupment provisions and also clawbacks.