; and (3) by amending subsection (e)(3)(B) to read as follows: (B) Bonus (i) In general In addition, subject to clause (ii), a senior manager may receive a bonus in an amount such that the manager’s total annual compensation does not exceed 125 percent of the maximum rate of basic pay for the Senior Executive Service, including any applicable locality-based comparability payment, based upon the Chief Operating Officer’s evaluation of the manager’s performance in relation to the goals set forth in the performance agreement described in paragraph (2). (ii) Exception In the case of a year in which the Department does not carry out the activities required under section 3(a) of the FAIR Act or comply with the requirements of sections 142(l) or 456(c), the senior manager may not receive a bonus described in clause (i). . 4. Repayment plans (a) Direct Loans Section 455(d) ( 20 U.S.C. 1087e(d) ) is amended by adding at the end the following: (6) Repayment plans for loans in repayment on or after July 1, 2023 (A) Design and selection Notwithstanding paragraph (1), and subject to subparagraph (E), beginning on July 1, 2023, the Secretary shall offer a borrower of a loan made under this part two plans for repayment of such loan, including principal and interest on the loan. The borrower shall be entitled to accelerate, without penalty, repayment on such loans. The borrower may choose— (i) a standard repayment plan with a fixed monthly repayment amount paid over a fixed period of time, not to exceed 10 years