TEXT

By the authority vested in me as President by the Constitution
and the laws of the United States of America, including section
301 of title 3, United States Code, and sections 1105, 1108, and
1111 of title 31, United States Code, it is hereby ordered as
follows:

Section 1. Statement of Presidential Principles.

Government corporations subject to this order should not pay
bonuses in excess of those authorized by sections 4501 through
4507 of title 5, United States Code, except as otherwise
specifically provided by law.

Sec. 2. Administration Review. (a) Before taking action to
approve any bonus in excess of those authorized in section 4502
of title 5, United States Code, each corporation subject to this
section (as provided in section 6 of this order) shall submit
information to the Director of the Office of Management and
Budget (OMB) relating to such bonuses as provided in subsection
(b).  Such corporation shall refrain from approving any such
bonus until the Director of OMB has had an opportunity to review
the information provided by the corporation.
     (b) The Director of OMB shall issue instructions to the
corporations subject to this section specifying when information
is to be submitted, and the content and form of such information.

Sec. 3. Information Reporting Requirements. (a) Government
corporations subject to this order will provide information to
the Director of OMB relating to the compensation practices for
senior executives of such corporations as provided in subsection
(c).
     (b) Information submitted shall include the following with
respect to senior executives of each corporation subject to this
section:

     (1)  the compensation plan, procedures, and structure of
          such corporation

     (2)  base salary levels, annual bonuses, and other
          compensation; and 

     (3)  information supporting the senior executive
          compensation plan and levels.

     (c) The Director of OMB shall issue instructions to the
corporations subject specifying when information is to be
submitted, and the content and form of such information.

Sec. 4. Review. (a) OMB, in consultation with the Department of
Labor, will review the information submitted pursuant to section
3, taking into consideration:

     (1) consistency with statutory requirements;

     (2) consistency with corporate mission;

     (3) standards of Federal management and efficiency; and

     (4) equivalent private sector compensation practices.

Sec. 5. Public Dissemination Requirement.  Government
corporations subject to this order shall make available through
public dissemination the information submitted pursuant to
section 3 of this order.

Sec. 6. Coverage. This order will apply to all mixed-ownership
and wholly owned corporations listed in section 9101 (2) and (3)
of title 31, United States Code, Section 2 shall apply only to
wholly owned corporations except such corporations that have
specific authority to approve bonuses in excess of those
authorized under sections 4501 through 4507 of title 5, United
States Code.

Sec. 7. Administration.  All corporations subject to this order
shall provide any information in the manner and form, and at the
time, requested pursuant to this order by the Director of OMB.

Sec. 8. This order is intended only to improve the internal
management of the executive branch and is not intended to create
any right or benefit, substantive or procedural, enforceable at
law by a party against the United States, it agencies, its
officers, or any other person.

                         /s/William J. Clinton


THE WHITE HOUSE,
October 5, 1995