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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 rights. <br />Use the dollar amount recognized for financial statement <br />reporting purposes with respect to the fiscal year in <br />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. This <br />does not include group life, health, hospitalization or medical <br />reimbursement plans that do not discriminate in favor of <br />executives, and are available generally to all salaried <br />employees. <br />iv. Change in pension value. This is the change in present value <br />of defined benefit and actuarial pension plans. <br />v. Above-market earnings on deferred compensation which is not <br />tax qualified. <br />vi. Other compensation, if the aggregate value of all such other <br />compensation (e.g. severance, termination payments, value of <br />life insurance paid on behalf of the employee, perquisites or <br />property) for the executive exceeds $10,000. <br />2. The City must report executive total compensation described above to the <br />MnDOT by the end of the month during which this agreement is awarded. <br />3. The City will obtain a Data Universal Numbering System (DUNS) number and <br />maintain its DUNS number for the term of this agreement. This number shall be <br />provided to MnDOT on the plan review checklist submitted with the plans for <br />each project. More information about obtaining a DUNS Number can be found <br />at: http://fedgov.dnb.com/webform/. <br />4. <br />The City’s failure to comply with the above requirements is a material breach of <br />this agreement for which the MnDOT may terminate this agreement for cause. <br />The MnDOT will not be obligated to pay any outstanding invoice received from <br />compliance with the above <br />the City unless and until the City is in full <br />requirements. <br />II. DUTIES OF MnDOT. <br />A. ACCEPTANCE. MnDOT accepts designation as Agent of the City for the <br />receipt and disbursement of federal funds and will act in accordance <br />herewith. <br />Agreement no. 03474 <br />-7- <br /> <br />