This definition includes certain institutional investors and (a) any natural person whose individual net worth, or joint net worth with that person’s spouse, exceeds $1,000,000 at the time of purchase; or (b) any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and who reasonably expects reaching the same income level or greater in the current year.