Meaning of takeback

take•back

Pronunciation: (tāk'bak"), [key]
— n.
  1. something taken back or withdrawn, esp. an employee benefit previously gained in a union contract; takeaway.
—adj.
  1. of or pertaining to what is taken back: a takeback agreement.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.