EXECUTIVE SECRETARY OF FOUNDATION.

SEC. 428. EXECUTIVE SECRETARY OF FOUNDATION. (a) Duties.—There shall be an Executive Secretary of the Foundation who shall be appointed by the Board. The Executive Secretary shall be the chief executive officer of the Foundation and shall carry out the functions of the Foundation subject to the supervision and direction of the Board. (b) Compensation.—The Executive Secretary of the Foundation shall be compensated at an annual rate of basic pay not in excess of the amount payable for Executive Level V.