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FOSL » Topics » Tax Consequences to the Company

This excerpt taken from the FOSL DEF 14A filed Apr 10, 2008.

Tax Consequences to the Company

        To the extent that a participant recognizes ordinary income in the circumstances described above, the Company will be entitled to a corresponding deduction provided that, among other things, the income meets the test of reasonableness, is an ordinary and necessary business expense, is not an "excess parachute payment" within the meaning of Section 280G of the Code, and is not disallowed by the $1,000,000 limitation on certain executive compensation under Section 162(m) of the Code.

"Tax Consequences to the Company" elsewhere:

McCormick & Company (MKC)
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