Page:United States Statutes at Large Volume 115 Part 1.djvu/255

 PUBLIC LAW 107-42—SEPT. 22, 2001 115 STAT. 233 (B) flights involving cargo-only transportation, the product of— (i) $500,000,000; and (ii) the ratio of— (I) the revenue ton miles or other auditable measure of the air carrier for cargo for the latest quarter for which data is available as reported to the Secretary; to (II) the total revenue ton miles or other auditable measure of all such air carriers for cargo for such quarter as reported to the Secretary. (c) PAYMENTS. —The President may provide compensation to air carriers under section 101(a)(2) in 1 or more payments up to the amount authorized by this title. SEC. 104. LIMITATION ON CERTAIN EMPLOYEE COMPENSATION. (a) IN GENERAL. —The President may only issue a Federal credit instrument under section 101(a)(1) to an air carrier after the air carrier enters into a legally binding agreement with the President that, during the 2-year period beginning September 11, 2001, and ending September 11, 2003, no officer or employee of the air carrier whose total compensation exceeded $300,000 in calendar year 2000 (other than an employee whose compensation is determined through an existing collective bargaining agreement entered into prior to September 11, 2001>— (1) will receive from the air carrier total compensation which exceeds, during any 12 consecutive months of such 2- year period, the total compensation received by the officer or employee from the air carrier in calendar year 2000; and (2) will receive from the air carrier severance pay or other benefits upon termination of employment with the air carrier which exceeds twice the maximum total compensation received by the officer or employee from the air carrier in calendar year 2000. (b) TOTAL COMPENSATION DEFINED. — In this section, the term "total compensation" includes salary, bonuses, awards of stock, and other financial benefits provided by an air carrier to an officer or employee of the air carrier. SEC. 105. CONTINUATION OF CERTAIN AIR SERVICE. (a) ACTION OF SECRETARY.—The Secretary of Transportation should take appropriate action to ensure that all communities that had scheduled air service before September 11, 2001, continue to receive adequate air transportation service and that essential air service to small communities continues without interruption. (b) ESSENTIAL AIR SERVICE. —There is authorized to be appropriated to the Secretary to carry out the essential air service program under subchapter II of chapter 417 of title 49, United States Code, $120,000,000 for fiscal year 2002. (c) SECRETARIAL OVERSIGHT.— (1) IN GENERAL. —Notwithstanding any other provision of law, the Secretary is authorized to require an air carrier receiving direct financial assistance under this Act to maintain scheduled air service to any point served by that carrier before September 11, 2001. (2) AGREEMENTS. —In applying paragraph (1), the Secretary may require air carriers receiving direct financial assistance under this Act to enter into agreements which will ensure, 49 USC 40101 note. 49 USC 40101 note. Appropri>>tion authorization.

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