((a))

((1)) The Board may appoint a President of the Foundation to serve full-time or part-time and for such a term as the Board shall determine.

((2)) The President shall carry out such of the functions and duties of the Foundation as the Board may determine, subject to the supervision and direction of the Board.

((3)) The President shall be compensated at a rate to be determined by the Board without regard to subchapter III of chapter 53 of title 5, not to exceed the rate for level III of the Executive Schedule under section 5314 of that title.

((4)) Sections 5532, 8344, and 8468 of title 5 shall not apply to a person while such person is serving as President of the Foundation.

((b))

((1)) There shall be an Executive Secretary of the Foundation who shall be appointed by the Board.

((2)) The Executive Secretary shall be the chief operating officer of the Foundation and shall carry out the functions of the Foundation subject to the supervision and direction of the Board or the President, as determined by the Board.

((3)) The Executive Secretary shall be compensated at the rate specified for employees placed in grade GS–18 of the General Schedule set forth in .