(1) If a career appointee is appointed by the President, by and with the advice and consent of the Senate, to a civilian position in the executive branch which is not in the Senior Executive Service, and the rate of basic pay payable for which is equal to or greater than the rate payable for level V of the Executive Schedule, the career appointee may elect (at such time and in such manner as the Office may prescribe) to continue to have the provisions of this title relating to basic pay, performance awards, awarding of ranks, severance pay, leave, and retirement apply as if the career appointee remained in the Senior Executive Service position from which he was appointed. Such provisions shall apply in lieu of the provisions which would otherwise apply
(A) to the extent provided under regulations prescribed by the Office, and
(B) so long as the appointee continues to serve under such Presidential appointment.
(2) An election under paragraph (1) may also be made by any career appointee who is appointed to a civilian position in the executive branch
(A) which is not in the Senior Executive Service; and
(B) which is covered by the Executive Schedule, or the rate of basic pay for which is fixed by statute at a rate equal to 1 of the levels of the Executive Schedule.
An election under this paragraph shall remain effective so long as the appointee continues to serve in the same position.
