Common use of Reporting Total Compensation of Recipient Executives Clause in Contracts

Reporting Total Compensation of Recipient Executives. a. Applicability and what to report. Recipients must report total compensation for each of the five most highly compensated executives for the preceding completed fiscal year, if— 1) The total federal funding authorized to date under this federal award equals or exceeds $30,000 as defined in 2 C.F.R. § 170.320; 2) In the preceding fiscal year, recipients received— a) Eighty percent or more of recipients’ annual gross revenues from federal procurement contracts (and subcontracts) and federal financial assistance subject to the Federal Funding Accountability and Transparency Act (Transparency Act), as defined at 2 C.F.R. § 170.320 (and subawards); and b) $25,000,000 or more in annual gross revenues from federal procurement contracts (and subcontracts) and federal financial assistance subject to the Transparency Act, as defined at 2 C.F.R. § 170.320 (and subawards); and c) The public does not have access to information about the compensation of the executives through periodic reports filed under Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)) or Section 6104 of the Internal Revenue Code of 1986. (See the U.S. Security and Exchange Commission total compensation filings at ▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/answers/execomp.htm. to determine if the public hasaccess to the compensation information.) 3) Where and when to report. Recipients must report executive total compensation described in paragraph 2.a. of this award term: a) As part of the recipient’s registration profile at ▇▇▇▇▇://▇▇▇.▇▇▇.gov. b) By the end of the month following the month in which this award is made, and annually thereafter.