; and (2) by striking paragraph (3) and inserting the following: (3) Limitation The aggregate of the amounts used in accordance with paragraph (1) for fiscal years 2020 through 2029 shall not exceed $40,000,000. . 16. Administratively determined pay Section 3 of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635a ), as amended by section 7(a) of this Act, is amended by adding at the end the following: (o) Compensation of employees (1) Rates of pay Subject to paragraph (2), the Board of Directors of the Agency, consistent with standards established by the Director of the Office of Minority and Women Inclusion, may set and adjust rates of basic pay for employees and new hires of the Agency without regard to the provisions of chapter 51 and subchapter III of chapter 53 of title 5, United States Code, except that no employee of the Agency may receive a rate of basic pay that exceeds the rate for level III of the Executive Schedule under section 5313 of such title. (2) Limitations The Board of Directors of the Agency may not apply paragraph (1) to more than 35 employees at any point in time. Nothing in paragraph (1) may be construed to apply to any position of a confidential or policy-determining character that is excepted from the competitive service under section 3302 of title 5, United States Code, (pursuant to schedule C of subpart C of part 213 of title 5 of the Code of Federal Regulations) or to any position that would otherwise be subject to section 5311 or 5376 of title 5, United States Code. .