The XYZ Co. took back performance-based compensation of $1.2 million from their CEO because of his decision of the buyout of another firm that eventually lowered the overall value of the XYZ Co

Which of the following compensation agreements allowed the board of directors to take back this $1.2 million?
A) platinum parachutes
B) clawback provisions
C) phantom stock
D) golden parachute

Answer: B

Business

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