; and (B) the median of the annual total compensation of all employees of the corporation, except the chief executive officer (or any equivalent position) of the corporation. (3) COVID–19 emergency The term COVID–19 emergency means the period that begins upon the date of the enactment of this Act and ends upon the termination by the Federal Emergency Management Agency of the emergency declared on March 13, 2020, by the President under the Robert T. Stafford Disaster Relief and Emergency Act ( 42 U.S.C. 4121 et seq.) relating to the Coronavirus Disease 2019 (COVID–19). (4) Federal aid The term Federal aid means any emergency lending provided under section 13(3) of the Federal Reserve Act or any Federal financial support in the form of a grant, loan, or loan guarantee. (5) S corporation The term S corporation has the meaning given that term under section 1361(a) of the Internal Revenue Code of 1986. (6) Securities terms The terms national securities exchange and security have the meaning given those terms, respectively, under section 3 of the Securities Exchange Act of 1934. 408. Authority for warrants and debt instruments (a) Definitions In this section: (1) Asset The term asset means any financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which or the guarantee of which is necessary to promote economic stability. (2) Company The term company means any entity that is not subject to the prohibitions in subsection (e). (3) Secretary The term Secretary means the Secretary of the Treasury. (b) Warrant or senior debt instrument The Secretary may not purchase, or make any commitment to purchase, or guarantee, or make any commitment to guarantee, any asset in response to the coronavirus disease (COVID–19) outbreak, unless the Secretary receives from the company from which such assets are to be purchased or are to be guaranteed— (1) in the case of a company, the securities of which are traded on a national