Duke Energy Assumption of Annual Incentive Liability. Effective as of the Distribution Date, Duke Energy shall assume or retain, as applicable, responsibility for all Liabilities and fully perform, pay and discharge all obligations relating to any annual incentive awards that any Duke Energy Participant is eligible to receive with respect to calendar year 2006 and, effective as of the Distribution Date, Spectra Energy shall have no obligation with respect thereto.
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Samples: Employee Matters Agreement (Spectra Energy Corp.), Employee Matters Agreement (Spectra Energy Corp.), Employee Matters Agreement (Duke Energy CORP)
Duke Energy Assumption of Annual Incentive Liability. Effective as of the Distribution Date, Duke Energy shall assume or retain, as applicable, responsibility for all Liabilities and fully perform, pay and discharge all obligations relating to any annual incentive awards that any Duke Energy Participant is eligible to receive with respect to calendar year 2006 and, effective as of the Distribution Date, Spectra Energy GasCo shall have no obligation with respect thereto.
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