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This excerpt taken from the XIDE DEF 14A filed Jul 24, 2009. Tax and
Accounting Considerations
Section 162(m) of the Internal Revenue Code generally
disallows a tax deduction to public corporations for
compensation over $1,000,000 paid for any fiscal year to the
corporation’s chief executive officer and the four other
most highly compensated executive officers as of the end of any
fiscal year. However, the statute exempts qualifying
performance-based compensation from the deduction limit if
certain requirements are met.
The Committee generally designs components of executive
compensation to ensure full deductibility. The Committee
believes, however, that stockholder interests are best served by
not restricting the Committee’s discretion and flexibility
in crafting compensation programs, even though such programs may
result in certain non-deductible compensation expenses.
Accordingly, the Committee has, from time to time, approved
elements of compensation for certain officers that are not fully
deductible, and may do so in the future in appropriate
circumstances.
Beginning on April 1, 2006, the Company began accounting
for stock-based compensation, including awards made under the
2004 Plan, in accordance with Statement of Financial Accounting
Standards No. 123R “Share Based Payment”
(“FAS 123R”).
This excerpt taken from the XIDE DEF 14A filed Jul 28, 2008. Tax and
Accounting Considerations
Section 162(m) of the Internal Revenue Code generally
disallows a tax deduction to public corporations for
compensation over $1,000,000 paid for any fiscal year to the
corporation’s chief executive officer and the four other
most highly compensated executive officers as of the end of any
fiscal year. However, the statute exempts qualifying
performance-based compensation from the deduction limit if
certain requirements are met.
The Committee generally designs components of executive
compensation to ensure full deductibility. The Committee
believes, however, that stockholder interests are best served by
not restricting the Committee’s discretion and flexibility
in crafting compensation programs, even though such programs may
result in certain non-deductible compensation expenses.
Accordingly, the Committee has, from time to time, approved
elements of compensation for certain officers that are not fully
deductible, and may do so in the future in appropriate
circumstances.
Beginning on April 1, 2006, the Company began accounting
for stock-based compensation, including awards made under the
2004 Plan, in accordance with Statement of Financial Accounting
Standards No. 123R “Share Based Payment”
(“FAS 123R”).
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