TAX-BASED PROGRAM CRITERIA. The Plan is designed to conform to the requirements of Section 162(m) of the Internal Revenue Code, which limits the amount the Company can deduct for non-performance-based compensation. Performance-based compensation meeting the requirements of the Internal Revenue Code is not subject to this limit. The Award granted hereby is intended to meet these requirements so that the Company can deduct this element of compensation.
Appears in 14 contracts
Samples: Performance Share Award Agreement (Quanex Building Products CORP), Performance Unit Award Agreement (Quanex Building Products CORP), Performance Share Award Agreement (Quanex Building Products CORP)
TAX-BASED PROGRAM CRITERIA. The Plan is designed to conform to the requirements of Section 162(m) of the Internal Revenue Code, which limits the amount the Company can deduct for non-performance-based compensation. Performance-based compensation meeting the requirements of the Internal Revenue Code is not subject to this limit. The Award award granted hereby is intended to meet these requirements so that the Company can deduct this element of compensation.
Appears in 2 contracts
Samples: Performance Restricted Stock Units Award Agreement (Quanex Building Products CORP), Performance Restricted Stock Units Award Agreement (Quanex Building Products CORP)
