C corp owner&employee (1 person) and key client (2nd person) have $120 dinner.

Is this right:
1) $120 dinner bill is fully reimbursed to owner/employee (according to C Corp accountable reimbursement plan/policy). Owner/employee has no personal income here...this is just a biz expense reimbursement. $120 biz expense to Corp.
2) Corp can deduct full $120 due to this being a business meeting that happen to include food as part of the biz meeting.

3) if 2) above is not right, then what % of the $120 is subject to 50% deduction limit...i would think only the employee's half of the meal cost...that is $60*.5= $30 deduction for employee portion...but still a full 100% of the client's portion of the meal cost ($60)...for a total tax deductible for C Corp of $90?

I'm hoping 2) above is right. Perhaps neither 2 nor 3 is right? Help, as the 50% meal thing seems to apply to employees not performing biz duties DURING the meal (e.g. meal when traveling to client location, and meal does not include client)