Section 3
SECTION 3. Section 4 of the same Act is hereby further amended to read as follows: "PRESIDENT OF THE CORPORATION: COMPENSATION, POWERS, AND DUTIES "SEC. 4. The President of the Corporation shall be its Chief Executive Officer whose salary shall be based on the Compensation and Position Classification System developed by the Governance Commission for Government-Owned or -Controlled Corporations and as approved by the President of the Philippines. The sum total of the salary, allowances, benefits and other emoluments of the President of the Corporation shall be higher than the compensation package of the next highest ranking executive of the Corporation. “ x x x "The President shall be assisted by a Vice President and other officials whose appointment and removal for cause shall be approved by the Board of Directors upon recommendation of the President of the Corporation. The salary of the Vice President and other officials shall be based on the Compensation and Position Classification System established by the Governance Commission for Government-Owned or -Controlled Corporations and as approved by the President of the Philippines."