MWY » Topics » Tax Considerations

This excerpt taken from the MWY DEF 14A filed Jun 12, 2008.
Tax Considerations
 
The Omnibus Budget Reconciliation Act of 1993 (the “Budget Act”) generally provides that publicly-held corporations will only be able to deduct, for income tax purposes, compensation paid to the Named Executive Officers in excess of one million dollars per year if it is paid pursuant to qualifying performance-based compensation plans approved by stockholders. Compensation as defined by the Budget Act includes, among other things, base salary, incentive compensation and gains on stock option transactions. Total compensation of some of our officers may be paid under plans or agreements that have not been approved by stockholders and may exceed one million dollars in a particular year. We will not be able to deduct these excess payments for income tax purposes. The Compensation Committee intends to consider, on a case by case basis, how the Budget Act will affect our compensation plans and contractual and discretionary cash compensation, taking into account, among other matters, our substantial net operating loss carryforwards.


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These excerpts taken from the MWY 10-K filed Mar 14, 2008.
Tax Considerations
 
The Omnibus Budget Reconciliation Act of 1993 (the “Budget Act”) generally provides that publicly-held corporations will only be able to deduct, for income tax purposes, compensation paid to the Named Executive Officers in excess of one million dollars per year if it is paid pursuant to qualifying performance-based compensation plans approved by stockholders. Compensation as defined by the Budget Act includes, among other things, base salary, incentive compensation and gains on stock option transactions. Total compensation of some of our officers may be paid under plans or agreements that have not been approved by stockholders and may exceed one million dollars in a particular year. We will not be able to deduct these excess payments for income tax purposes. The Compensation Committee intends to consider, on a case by case basis, how the Budget Act will affect our compensation plans and contractual and discretionary cash compensation, taking into account, among other matters, our substantial net operating loss carryforwards.


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Tax
Considerations



 



The Omnibus Budget Reconciliation Act of 1993 (the “Budget
Act”) generally provides that publicly-held corporations
will only be able to deduct, for income tax purposes,
compensation paid to the Named Executive Officers in excess of
one million dollars per year if it is paid pursuant to
qualifying performance-based compensation plans approved by
stockholders. Compensation as defined by the Budget Act
includes, among other things, base salary, incentive
compensation and gains on stock option transactions. Total
compensation of some of our officers may be paid under plans or
agreements that have not been approved by stockholders and may
exceed one million dollars in a particular year. We will not be
able to deduct these excess payments for income tax purposes.
The Compensation Committee intends to consider, on a case by
case basis, how the Budget Act will affect our compensation
plans and contractual and discretionary cash compensation,
taking into account, among other matters, our substantial net
operating loss carryforwards.





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This excerpt taken from the MWY DEF 14A filed Apr 24, 2007.
Tax Considerations
 
The Omnibus Budget Reconciliation Act of 1993 (the “Budget Act”) generally provides that publicly-held corporations will only be able to deduct, for income tax purposes, compensation paid to the Named Executive Officers in excess of one million dollars per year if it is paid pursuant to qualifying performance-based compensation plans approved by stockholders. Compensation as defined by the Budget Act includes, among other things, base salary, incentive compensation and gains on stock option transactions. Total compensation of some of our officers may be paid under plans or agreements that have not been approved by stockholders and may exceed one million dollars in a particular year. We will not be able to deduct these excess payments for income tax purposes. The Compensation Committee intends to consider, on a case by case basis, how the Budget Act will affect our compensation plans and contractual and discretionary cash compensation, taking into account, among other matters, our substantial net operating loss carryforwards.


15


Table of Contents

 
This excerpt taken from the MWY 10-K filed Mar 12, 2007.
Tax Considerations
 
The Omnibus Budget Reconciliation Act of 1993 (the “Budget Act”) generally provides that publicly-held corporations will only be able to deduct, for income tax purposes, compensation paid to the Named Executive Officers in excess of one million dollars per year if it is paid pursuant to qualifying performance-based compensation plans approved by stockholders. Compensation as defined by the Budget Act includes, among other things, base salary, incentive compensation and gains on stock option transactions. Total compensation of some of our officers may be paid under plans or agreements that have not been approved by stockholders and may exceed one million dollars in a particular year. We will not be able to deduct these excess payments for income tax purposes. The Compensation Committee intends to consider, on a case by case basis, how the Budget Act will affect our compensation plans and contractual and discretionary cash compensation, taking into account, among other matters, our substantial net operating loss carryforwards.
 
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