Limitation on Deductions. During the Relevant Period, the Company agrees that it shall not claim a deduction for remuneration for federal income tax purposes in excess of $500,000 for each Senior Executive Officer that would not be deductible if Section 162(m)(5) of the Code applied to the Company.
Appears in 57 contracts
Samples: Exchange Agreement, Exchange Agreement, Exchange Agreement
Limitation on Deductions. During the Relevant Period, the Company agrees that it shall not claim a deduction for remuneration for federal income tax purposes in excess of $500,000 for each Senior Executive Officer that Officer, which would not be deductible if Section 162(m)(5) of the Code applied to the Company.
Appears in 2 contracts
Samples: Exchange Agreement (Broadway Financial Corp \De\), Exchange Agreement
