DEPUTY ADMINISTRATOR AND CHIEF ENGINEER.

SEC. 3524. DEPUTY ADMINISTRATOR AND CHIEF ENGINEER. (a) In General.— Section 1104 (22 U.S.C. 3614) is amended to read as follows: “deputy administrator “Sec. 1104. (a) There shall be a Deputy Administrator of the Commission who shall be appointed by the President. The Deputy Administrator shall perform such duties as may be prescribed by the Board. “(b) The Deputy Administrator shall be paid compensation at a rate of pay, established by the Board, which does not exceed the rate of basic pay in effect for level IV of the Executive Schedule, 110 STAT. 2861and, if eligible, shall be paid the overseas recruitment and retention differential provided for in section 1217 of this Act.”. (b) Savings Provisions.— Nothing in this section shall be considered to affect— (1) the tenure of the individual serving as Deputy Administrator of the Commission on the day before subsection (a) takes effect; or (2) until modified under section 1104(b) of the Panama Canal Act of 1979, as amended by subsection (a), the compensation of the individual so serving.