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This excerpt taken from the MTD DEF 14A filed Mar 13, 2009. Tax
Treatment
Section 162(m) of the Internal Revenue Code prohibits the
company from deducting compensation in excess of $1 million
paid to certain employees, generally its CEO and its three other
most highly compensated executive officers (excluding the CFO),
unless that compensation qualifies as performance-based
compensation. We maintain flexibility to balance the need to
fairly compensate the company’s executive officers with the
company’s ability to deduct compensation pursuant to
Section 162(m).
This excerpt taken from the MTD DEF 14A filed Mar 14, 2008. Tax
Treatment
Section 162(m) of the Internal Revenue Code prohibits the
company from deducting compensation in excess of $1 million
paid to certain employees, generally its CEO and its three other
most highly compensated executive
Table of Contents
COMPENSATION
DISCUSSION AND ANALYSIS
officers (excluding the CFO), unless that compensation qualifies
as performance-based compensation. We maintain flexibility to
balance the need to fairly compensate the company’s
executive officers with the company’s ability to deduct
compensation pursuant to Section 162(m).
This excerpt taken from the MTD DEF 14A filed Mar 15, 2007. Tax
Treatment
Section 162(m) of the Internal Revenue Code prohibits the
company from deducting compensation in excess of $1 million
paid to certain employees, generally its CEO and its four other
most highly compensated executive officers, unless that
compensation qualifies as performance-based compensation. We
seek to balance the need to fairly compensate the company’s
executive officers with the company’s ability to deduct
compensation pursuant to Section 162(m).
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