Page:United States Statutes at Large Volume 112 Part 2.djvu/725

 PUBLIC LAW 105-244 —OCT. 7, 1998 112 STAT. 1609 cause the Chief Operating Officer's total aggregate compensation in a calendar year to equal, or exceed the amount of the President's salary under section 102 of title 3, United States Code. "(e) SENIOR MANAGEMENT.— " (1) APPOINTMENT.— " (A) IN GENERAL.— The Chief Operating Officer may appoint such senior managers as that officer determines necessary without regard to the provisions of title 5, United States Code, governing appointments in the competitive service. "(B) COMPENSATION. — The senior managers described in subparagraph (A) may be paid without regard to the provisions of chapter 51 and subchapter III of chapter 53 of such title relating to classification and General Schedule pay rates. "(2) PERFORMANCE AGREEMENT.— Each year, the Chief Operating Officer and each senior manager appointed under this subsection shall enter into an annual performance agreement that sets forth measurable organization and individual goals. The agreement shall be subject to review and renegotiation at the end of each term. " (3) COMPENSATION. — "(A) IN GENERAL.— A senior manager appointed under this subsection may be paid at an annual rate of basic pay of not more than the maximum rate of basic pay for the Senior Executive Service under section 5382 of title 5, United States Code, including any applicable locality-based comparability payment that may be authorized under section 5304(h)(2)(C) of such title. The compensation of a senior manager shall be considered for purposes of section 207(c)(2)(A) of title 18, United States Code, to be the equivalent of that described under clause (ii) of section 207(c)(2)(A) of such title. "(B) BONUS. —In addition, a senior manager may receive a bonus in an amount such that the manager's total annual compensation does not exceed 125 percent of the maximum rate of basic pay for the Senior Executive Service, including any applicable locality-based comparability payment, based upon the Chief Operating Officer's evaluation of the manager's performance in relation to the goals set forth in the performance agreement described in paragraph (2). "(4) REMOVAL.— A senior manager shall be removable by the Chief Operating Officer, or by the Secretary if the position of Chief Operating Officer is vacant. "(f) STUDENT LOAN OMBUDSMAN.— "(1) APPOINTMENT. —The Chief Operating Officer, in consultation with the Secretary, shall appoint a Student Loan Ombudsman to provide timely assistance to borrowers of loans made, insured, or guaranteed under title IV by performing the functions described in paragraph (3). "(2) PUBLIC INFORMATION.— The Chief Operating Officer shall disseminate information about the availability and functions of the Ombudsman to borrowers and potential borrowers, as well as institutions of higher education, lenders, guaranty

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