Under current law, Section 162(m) of the Internal Revenue Code of 1986 (Code) limits to $1 million the tax deduction that public companies may take for compensation paid to any “covered employee.” The Code Section 162(m) deduction limit generally applies to the compensation paid to any employee of a public company who, as of the close of the fiscal year, is the company’s principal executive officer (i.e., CEO) or one of the company’s three most highly compensated executive officers other than...
