(a) Determination required For purposes of section
2324 (e)(1)(P) of title
10 and section
256 (e)(1)(P) of this title, the Administrator shall review commercially available surveys of executive compensation and, on the basis of the results of the review, determine a benchmark compensation amount to apply for each fiscal year. In making determinations under this subsection the Administrator shall consult with the Director of the Defense Contract Audit Agency and such other officials of executive agencies as the Administrator considers appropriate.
(c) Definitions In this section:
(1) 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 employers cost accounting records for the fiscal year.
(2) The term senior executives, with respect to a contractor, means the five most highly compensated employees in management positions at each home office and each segment of the contractor.
(3) The term benchmark corporation, with respect to a fiscal year, means a publicly-owned United States corporation that has annual sales in excess of $50,000,000 for the fiscal year.
(4) The term publicly-owned United States corporation means a corporation organized under the laws of a State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a possession of the United States the voting stock of which is publicly traded.
(5) The term fiscal year means a fiscal year established by a contractor for accounting purposes.
