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2011 US Code
Title 41 - Public Contracts
Subtitle I - Federal Procurement Policy (§§ 101 - 4711)
Division C - Procurement (§§ 3101 - 4711)
Chapter 43 - ALLOWABLE COSTS (§§ 4301 - 4310)
Section 4301 - Definitions

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Metadata
Publication TitleUnited States Code, 2006 Edition, Supplement 5, Title 41 - PUBLIC CONTRACTS
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 41 - PUBLIC CONTRACTS
Subtitle I - Federal Procurement Policy
Division C - Procurement
CHAPTER 43 - ALLOWABLE COSTS
Sec. 4301 - Definitions
Containssection 4301
Date2011
Laws in Effect as of DateJanuary 3, 2012
Positive LawYes
Dispositionstandard
Source CreditPub. L. 111-350, §3, Jan. 4, 2011, 124 Stat. 3784.
Statutes at Large References102 Stat. 4634
108 Stat. 3315
111 Stat. 1836
112 Stat. 2083
124 Stat. 3784
Public Law ReferencesPublic Law 100-700, Public Law 103-355, Public Law 105-85, Public Law 105-261, Public Law 111-350

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41 USC § 4301 (2011)
§4301. Definitions

In this chapter:

(1) Compensation.—The term “compensation”, for a fiscal year, means the total amount of wages, salary, bonuses, and deferred compensation for the fiscal year, whether paid, earned, or otherwise accruing, as recorded in an employer's cost accounting records for the fiscal year.

(2) Covered contract.—The term “covered contract” means a contract for an amount in excess of $500,000 that is entered into by an executive agency, except that the term does not include a fixed-price contract without cost incentives or any firm fixed-price contract for the purchase of commercial items.

(3) Fiscal year.—The term “fiscal year” means a fiscal year established by a contractor for accounting purposes.

(4) Senior executive.—The term “senior executive”, with respect to a contractor, means the 5 most highly compensated employees in management positions at each home office and each segment of the contractor.

(Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3784.)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
4301(1) 41:256(m)(1). June 30, 1949, ch. 288, title III, §306(m), as added Pub. L. 105–85, title VIII, §808(b)(2), Nov. 18, 1997, 111 Stat. 1836; Pub. L. 105–261, title VIII, §804(b), Oct. 17, 1998, 112 Stat. 2083.
4301(2) 41:256(l)(1). June 30, 1949, ch. 288, title III, §306(l)(1), as added Pub. L. 100–700, §8(a)(1), Nov. 19, 1988, 102 Stat. 4634; Pub. L. 103–355, title II, §2151, Oct. 13, 1994, 108 Stat. 3315.
4301(3) 41:256(m)(3).
4301(4) 41:256(m)(2).

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