Recoverable Event

Recoverable Event. Shall mean the occurrence of any of the following events: (i) The Covered Employee's engagement in conduct that constitutes Cause. (ii) The Covered Employee's engagement in fraudulent, intentional, willful, or grossly negligent misconduct that ultimately results in the Company being required to prepare an accounting restatement due to its material noncompliance with any financial reporting requirement under United States federal securities laws.