Establishment of SpinCo Outside Directors’ Compensation Plan. Before the Effective Time, SpinCo shall, as it deems appropriate, establish an outside directors’ compensation program for each SpinCo non−employee director as of the Effective Time who served on the KAR Board immediately prior to the Effective Time but who will no longer serve on the KAR Board following the Effective Time (a “Transferred Director”). As of the Effective Time, KAR shall cease to have any Liability to any such Transferred Director under the KAR outside directors’ compensation program.
Appears in 4 contracts
Samples: Employee Matters Agreement (IAA, Inc.), Employee Matters Agreement (KAR Auction Services, Inc.), Employee Matters Agreement (IAA Spinco Inc.)
