Common use of Reporting Total Compensation of the Recipient’s Executives Clause in Contracts

Reporting Total Compensation of the Recipient’s Executives. The Recipient agrees to report the total compensation for each of its five highest compensated executives for the preceding completed fiscal year if: 1 The total federal assistance authorized to date for the Underlying Agreement is $25,000 or more, and 2 In its preceding fiscal year, the Recipient: a Received 80 percent or more of its annual gross revenues from federal assistance subject to the Transparency Act, as defined in 2 C.F.R. § 170.320 (and subawards) and/or federal procurement contracts (and subcontracts), b Received $25,000,000 or more in annual gross revenues from federal assistance subject to the Transparency Act, as defined in 2 C.F.R. § 170.320 (and subawards) and/or federal procurement contracts (and subcontracts), and c The public does not have access to information about the compensation of the Recipient’s executives through periodic reports filed under Section 13(a) of the Securities Exchange Act of 1934, 15 U.S.C. § 78m(a), Section 15(d) of the Securities Exchange Act of 1934, 15 U.S.C. § 78o(d), or Section 6104 of the Internal Revenue Code of 1986, 26 U.S.C. § 6104 (to determine if the public has access to the compensation information, see the U.S. Securities and Exchange Commission total compensation filings at xxxx://xxx.xxx.xxx/answers/execomp.htm). 3 The Recipient agrees to report executive total compensation described above as part of Recipient’s registration profile at xxxx://xxx.xxx.gov, and by the end of the month after the month in which the Underlying Agreement is executed and annually thereafter.