Laserfiche WebLink
t ' <br />a. The City shall report the names and total compensation of each of <br />its five most highly compensated executives for the City's <br />preceding completed fiscal year, if in the City's preceding fiscal <br />year it received: <br />i. 80 percent or more of the City's annual gross revenues <br />from Federal procurement contracts and Federal financial <br />assistance subject to the Transparency Act, as defined at 2 <br />CFR 170.320 (and subawards); and <br />ii. $25,000,000 or more in annual gross revenues from <br />Federal procurement contracts (and subcontracts), and <br />Federal financial assistance subject to the Transparency <br />Act (and subawards); and <br />iii. The public does not have access to information about the <br />compensation of the executives through periodic reports <br />filed under section 13(a) or 15(d) of the Securities <br />Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)) or <br />section 6104 of the Internal Revenue Code of 1986. (To <br />determine if the public has access to the compensation <br />information, see the U.S. Security and Exchange <br />Commission total compensation filings at <br />http://www.sec.gov/answers/execomp.htm.). <br />Executive means officers, managing partners, or any other employees in <br />management positions. <br />b. Total compensation means the cash and noncash dollar value <br />earned by the executive during the City's preceding fiscal year <br />and includes the following (for more information see 17 CFR <br />229.402(c)(2)): <br />i. Salary and bonus. <br />ii. Awards of stock, stock options, and stock appreciation <br />rights. Use the dollar amount recognized for financial <br />statement reporting purposes with respect to the fiscal year <br />in accordance with the Statement of Financial Accounting <br />Standards No. 123 (Revised 2004) (FAS 123R), Shared <br />Based Payments. <br />iii. Earnings for services under non-equity incentive plans. <br />This does not include group life, health, hospitalization or <br />medical reimbursement plans that do not discriminate in <br />favor of executives, and are available generally to all <br />salaried employees. <br />iv. Change in pension value. This is the change in present <br />value of defined benefit and actuarial pension plans. <br />v. Above-market earnings on deferred compensation which is <br />not tax qualified. <br />vi. Other compensation, if the aggregate value of all such <br />other compensation (e.g. severance, termination <br />payments, value of life insurance paid on behalf of the <br />employee, perquisites or property) for the executive <br />exceeds $10,000. <br />• <br />• <br /> <br />(MnDOT Agreement No. 99951) <br />Page 6 <br />