Common use of Notices, Withholding, Reporting Clause in Contracts

Notices, Withholding, Reporting. (i) Spectra Energy shall notify Duke Energy of any event after the Distribution Date giving rise to income to any current and former employees of Duke Energy (or any Duke Energy Affiliate) in connection with any Spectra Energy Stock Options, Spectra Energy restricted stock, Spectra Energy performance shares or Spectra Energy phantom stock units by 12:00 P.M. of the first business day after such event, and, subject to any obligations under the Employee Matters Agreement, Duke Energy shall remit applicable Taxes and satisfy applicable Tax reporting obligations in connection therewith if required by law. (ii) Duke Energy shall notify Spectra Energy of any event after the Distribution Date giving rise to income to any current and former employees of Spectra Energy (or any Spectra Energy Affiliate) in connection with any Duke Energy Stock Options, Duke Energy restricted stock, Duke Energy performance shares or Duke Energy phantom stock units by 12:00 P.M. of the first business day after such event, and, subject to any obligations under the Employee Matters Agreement, Spectra Energy shall remit applicable Taxes and satisfy applicable Tax reporting obligations in connection therewith if required by law.

Notices, Withholding, Reporting. (i) Spectra Energy GasCo shall notify Duke Energy of any event after the Distribution Date giving rise to income to any current and former employees of Duke Energy (or any Duke Energy Affiliate) in connection with any Spectra Energy GasCo Stock Options, Spectra Energy GasCo restricted stock, Spectra Energy GasCo performance shares or Spectra Energy GasCo phantom stock units by 12:00 P.M. of the first business day after such event, and, subject to any obligations under the Employee Matters Agreement, Duke Energy shall remit applicable Taxes and satisfy applicable Tax reporting obligations in connection therewith if required by law. (ii) Duke Energy shall notify Spectra Energy GasCo of any event after the Distribution Date giving rise to income to any current and former employees of Spectra Energy GasCo (or any Spectra Energy GasCo Affiliate) in connection with any Duke Energy Stock Options, Duke Energy restricted stock, Duke Energy performance shares or Duke Energy phantom stock units by 12:00 P.M. of the first business day after such event, and, subject to any obligations under the Employee Matters Agreement, Spectra Energy GasCo shall remit applicable Taxes and satisfy applicable Tax reporting obligations in connection therewith if required by law.