Glossary

The Dodd-Frank Act includes a clawback provision that allows companies to recover (i.e., "claw back") monies paid to current and former directors and officers under incentive compensation plans.

A cleanup fund is a life insurance policy purchased specifically to fund the final expenses associated with the insured's death (e.g., funeral expenses).

The Clean Air Act (CAA) of 1970 is a federal act regulating the emission of harmful pollutants into the air.

In an environmental context, clean closure is generally defined to be achieved when the governing regulatory agency issues a "No Further Action Letter" or comparable acceptance that the project's cleanup goals have been achieved.

The Clean Water Act (CWA) of 1972 is a federal act that requires monitoring of discharges into US waters.

Clearance, in most of the Canadian workers compensation provincial funds, is when an entity utilizing the services of another organization may be held responsible when that organization fails to pay the premium due the fund.

In certain jurisdictions, clergy must maintain the confidentiality of "privileged communications" with penitents or counselees—called the clergy-penitent privilege.

A click-wrap agreement is a non-negotiated contract that is presented and formed on the Internet that prohibits a user from downloading software, purchasing goods or services, or accessing a Web page unless the user manifests assent to the contract's terms by clicking on an "I Agree" or "I Accept" button.

The client company in an employee leasing arrangement is an organization that leases all or part of its workforce on a long-term basis from a third party (typically an employee leasing company/professional employer organization (PEO)).

Climate change risk is the risk facing business and governmental entities resulting from climate change and affecting natural and human systems.