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HAS » Topics » PROPOSAL TO APPROVE THE 2009 SENIOR MANAGEMENT ANNUAL PERFORMANCE PLAN (Proposal No. 3)This excerpt taken from the HAS DEF 14A filed Apr 6, 2009. PROPOSAL TO
APPROVE THE 2009 SENIOR MANAGEMENT ANNUAL
PERFORMANCE PLAN (Proposal No. 3)
On February 5, 2009, the Board adopted the 2009 Senior
Management Annual Performance Plan (the “2009 Performance
Plan”), subject to shareholder approval. The Company’s
existing 2004 Senior Management Annual Performance Plan (the
“2004 Performance Plan”), which was designed to enable
the Company to make awards that qualify as “performance
based” compensation exempt from the tax deduction
limitations of Section 162(m) of the Internal Revenue Code
(the “Code”), was approved by the Company’s
shareholders in 2004. As such, under the requirements of
Section 162(m) of the Code, the last year in which awards
made under the 2004 Performance Plan may qualify as performance
based compensation is 2009. To qualify awards which may be made
in 2010 and thereafter as performance based compensation under
Section 162(m) of the Code, the Company is proposing the
2009 Performance Plan for shareholder approval.
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