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4. Exemptions. <br />If, in the previous tax year, you or the prime contractor had gross income, from all sources, under <br />$300,000, you are exempt from the requirements to report prime contracts and the total compensation of <br />the five most highly compensated executives of any prime contractor. <br />5. Definitions. For purposes of this section: <br />a. Entity means all of the following, as defined in 2 CFR Part 25: <br />1. A Governmental organization, which is a State, local government, or Indian tribe; <br />2. A foreign public entity; <br />3. A domestic or foreign nonprofit organization; <br />4. A domestic or foreign for-profit organization; <br />5. A Federal agency, but only as a contractor or subcontractor to a non -Federal entity. <br />b. Executive means officers, managing partners, or any other employees in management <br />positions. <br />c. Total compensation means the cash and noncash dollar value earned by the executive during <br />the Servicing Agency's or prime contractor's preceding fiscal year and includes the following (for <br />more information see 17 CFR 229.402(c)(2)): <br />1. Salary and bonus <br />2. Awards of stock, stock options, and stock appreciation rights. Use the dollar amount <br />recognized for financial statement reporting purposes with respect to the fiscal year in <br />accordance with the Statement of Financial Accounting Standards No. 123 (Revised 2004) <br />(FAS 123R), Shared Based Payments. <br />3. Earnings for services under non -equity incentive plans. This does not include group <br />life, health, hospitalization or medical reimbursement plans that do not discriminate in <br />favor of executives, and are available generally to all salaried employees. <br />4. Change in pension value. This is the change in present value of defined benefit <br />and actuarial pension plans. <br />5. Above -market earnings on deferred compensation which is not tax -qualified. <br />6. Other compensation, if the aggregate value of all such other compensation (e.g. <br />severance, termination payments, value of life insurance paid on behalf of the employee, <br />perquisites or property) for the executive exceeds $10,000. <br />E. SINGLE AUDIT INFORMATION FOR SERVICING AGENCIES <br />To maximize the transparency and accountability of funds authorized under the Act as required by Congress <br />and in accordance with 2 CFR 200 "Uniform Administrative Requirements, Cost Principles, and Audit <br />