A Checklist outlining the requirements for the performance-based compensation exception under Section 162(m) of the Internal Revenue Code. This exception permits certain compensation to be excluded from the $1 million annual deduction limit on compensation paid by public companies to covered employees. The exception was generally repealed by the Tax Cuts and Jobs Act, effective for taxable years beginning after December 31, 2017, subject to a transition rule for plans that were in effect on November 2, 2017 and are not materially modified after that date.