The document discusses Section 162(m) of the Internal Revenue Code, which limits the tax deduction for executive compensation exceeding $1 million per year for certain officers, with exceptions for performance-based compensation. It also outlines the U.S. federal income tax consequences of the Employee Stock Purchase Plan, which is intended to qualify under Section 423(b) of the Code, allowing participants to avoid taxable income upon the grant or exercise of options, provided certain conditions are met.
doj/DataSet10/EFTA01382747.pdf
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