Iac Incentive Plans. (a) NewCo shall be responsible for determining all bonus awards that would otherwise be payable under the IAC Incentive Plans to NewCo Employees for the fiscal year in which the Contribution Effective Time occurs. NewCo also shall determine for NewCo Employees (i) the extent to which established performance criteria (as interpreted by NewCo, in its sole discretion) have been met, and (ii) the payment level for each NewCo Employee. NewCo shall assume all Liabilities with respect to any such bonus awards payable to NewCo Employees for the fiscal year in which the Contribution Effective Time occurs and thereafter.
Appears in 4 contracts
Samples: Employee Matters Agreement (Iac/Interactivecorp), Employee Matters Agreement (ANGI Homeservices Inc.), Employee Matters Agreement (ANGI Homeservices Inc.)
