“(a) Appointment.—The Board shall appoint an Executive Director, who may be appointed without regard to the provisions of title 5, United States Code, governing appointments in the competitive service.
“(b) Rate of Pay.—The Executive Director shall be paid at the rate of basic pay payable for level IV of the Executive Schedule under section 5315 of title 5, United States Code.
“(c) Return to Civil Service.—An Executive Director selected from the civil service (as defined in section 2101 of title 5, United States Code) shall be entitled to return to the civil service (as so defined) after service to the Board ends if the service of the Executive Director to the Board ends for reasons other than misconduct, neglect of duty, or malfeasance.
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