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He was a member of the 1994 Payment in Kind Task Force that established the rules, but he also cites IRSregulations at 31. In a little twist, Korn/Ferry will not pay cash dividends on the convertible bonds or preferred shares for at least two years, but rather "P1K" -- payment in kind. ``We think it's terrific that the school district is working with us in this way and we're able to provide payment in kind for the use of the facilities,'' Boydston said. |
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