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4 <br />c. Owns a legal, equitable, or beneficial interest often thousand dollars <br />($10,000) or more in the business or five percent (5%) of the <br />business; whichever is less, other than as a trustee on a deed of trust. <br />For purposes of this subdivision, the term 'business' shall not include a <br />widely held investment fund, including a mutual fund, regulated investment <br />company, or pension or deferred compensation plan, if all of the following apply: <br />a. The person or a member of the person's immediate family neither <br />exercises nor has the ability ~to exercise control over the financial <br />interests held by the fund. <br />b. The fund is publicly traded, or the fund's assets are widely <br />diversified. <br />(4) Compensation. '- Any money, thing of value, or economic benefit <br />conferred on or received by any person in return for services rendered or to be <br />rendered by that person or another. This term does not include campaign <br />contributions properly received and, reported as required by Article 22A of Chapter <br />163 of the General Statutes. <br />(5) Confidential information. -Information defined. as confidential by the <br />law. <br />(6) Contract. -Any agreement, including sales and conveyances of real and <br />personal property, and agreements for the performance of services. <br />(7) Covered person. - An Orange County Commissioner or a public servant. <br />(8) County or the County. -Orange County, North Carolina. <br />(9) Economic interest. -Matters involving a business with which associated <br />or a nonprofit corporation or organization with which associated. <br />(10) Extended family. -Spouse, domestic partner as defined in the County's <br />Personnel Ordinance, lineal descendant, lineal ascendant, sibling, spouse's or <br />domestic partner's lineal ascendant, spouse's or domestic partner's lineal <br />descendant, spouse's or domestic partner's sibling, and the spouse of any of these <br />persons. <br />(11) Filing person. - A person required to file a statement of economic interest <br />as prescribed in this Policy. <br />(12) Gift. -Anything of monetary value given or received without valuable <br />consideration by or from a lobbyist, lobbyist principal, or a person described under <br />Article 3, Section (d)(1), (2), or (3). The following shall not be considered gifts <br />under this Policy: <br />a. Anything for which fair market value, or face value if shown, is paid <br />by the covered person. <br />b. Commercially available loans made on terms not more favorable <br />than generally available to the general public in the normal course of business <br />if not made for the purpose of lobbying. <br />c. Contractual arrangements or commercial relationships or <br />arrangements made in the normal course of business if not made for the <br />purpose of lobbying. <br />