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This excerpt taken from the HERO DEF 14A filed Mar 12, 2009. Deductibility
of Executive Compensation
As part of its role, the committee gives some consideration to
the deductibility of executive compensation under
Section 162(m) of the Internal Revenue Code, which provides
that we may not deduct certain compensation in excess of
$1,000,000 that is paid to certain individuals. The committee
may approve compensation that will be subject to and in excess
of the deduction limitations under Section 162(m) of the
Internal Revenue Code to ensure competitive levels of total
compensation for executive officers.
This excerpt taken from the HERO DEF 14A filed Mar 14, 2008. Deductibility
of Executive Compensation
As part of its role, the committee gives some consideration to
the deductibility of executive compensation under
Section 162(m) of the Internal Revenue Code, which provides
that we may not deduct certain compensation in excess of
$1,000,000 that is paid to certain individuals. The committee
may approve compensation that will be subject to and in excess
of the deduction limitations under Section 162(m) of the
Internal Revenue Code to ensure competitive levels of total
compensation for executive officers.
This excerpt taken from the HERO 10-K filed Apr 24, 2007. Deductibility of Executive Compensation As part of its role, the Committee gives some consideration to the deductibility of executive compensation under Section 162(m) of the Internal Revenue Code, which provides that we may not deduct certain compensation in excess of $1,000,000 that is paid to certain individuals. We believe that most of the compensation paid to date under our long-term incentive plans is generally exempt from this limitation under the transition rules for newly public companies. In this regard, for 2006, neither the Chief Executive Officer nor any of the named executive officers received any compensation that was not deductible for federal income tax purposes. However, it is possible that in certain situations, the Committee may approve compensation that will be subject to and in excess of the deduction limitations under Section 162(m) of the Internal Revenue Code to ensure competitive levels of total compensation for its executive officers. | EXCERPTS ON THIS PAGE:
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