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This excerpt taken from the DTV DEF 14A filed Apr 27, 2007. 2006 SUPPLEMENTARY TABLE 7—BOARD OF DIRECTORS—ALL OTHER COMPENSATION In 2006 Supplementary Table 7 and the following discussion, we identify the nature and value of the benefits earned by the directors other than Mr. Carey.
Tax Reimbursements and Other. Each director receives complimentary DIRECTV service and may select any programming provided by DIRECTV. The IRS requires the value of the programming to be reported as taxable income for each director. To maintain the complimentary intent of this program, a cash payment is made to each director such that, after taxes, there would be no expense to the director. Column (d) entitled "Other" represents the value of complimentary DIRECTV programming, while column (b) entitled "Tax Reimbursements" reflects the cash payment made to offset the taxable value of the complimentary DIRECTV programming. Payments and Promises of Payments Pursuant to Director Legacy Programs and Similar Charitable Award Programs. Members of the Board of Directors along with all active, full-time employees of DIRECTV are eligible for the Academic Matching Gift Program and the Hurricane Katrina Matching Gift Program in which the Company will match dollar for dollar gifts ranging from a minimum of $25 for a single gift to a maximum of $10,000 for all gifts in any calendar year. Charitable gifts must be registered within six months of the date when gifts were given. Accredited two- or four-year private or public colleges and universities and private or public primary and secondary schools are generally eligible provided that they qualify as tax-exempt, nonprofit organizations as defined under Section 501(c)(3) of the Code. Gifts that are made as a consequence of, or that lead to a material, direct benefit to the donor, a member of the donor's family or an individual designated by the donor are not eligible for a matching donation nor are gifts to scholarship funds established in the name of the donor or for which the scholarship recipient is designated by the donor. 52 |
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