Section 534.504 - Pay range(a) A rate of basic pay under this subpart must be-(1) Not less than 120 percent of the minimum rate of basic pay payable for GS-15 of the General Schedule, and(2) Not greater than-(i) The rate of basic pay payable for level III of the Executive Schedule (EX-III), or(ii) In the case of an SL or ST employee who is covered by a certified performance appraisal system or whose established rate of basic pay is preserved under § 534.509 , the rate of basic pay payable for level II of the Executive Schedule (EX-II).(b) An agency may not set or adjust the rate of basic pay for an SL or ST employee higher than the maximum in-(1) Paragraph (a)(2)(i) of this section (i.e., EX-III) when the SL or ST employee is covered by a performance appraisal system that is not certified or when the SL or ST employee is not subject to a performance appraisal system, except as provided in § 534.509 ; or(2) Paragraph (a)(2)(ii) of this section (i.e., EX-II) when the SL or ST employee is covered by a certified performance appraisal system.