The board of directors shall employ an executive director of the research corporation who shall serve at the pleasure of the board of directors. The executive director’s salary shall not be more than two times the salary of the highest paid head of a department within the executive branch. The board of directors may also appoint other officers and employees as may be necessary in administering the affairs of the research corporation. The board of directors shall set the employees’ duties, responsibilities, salaries, holidays, vacations, leaves, hours of work, and working conditions. The board of directors may grant other benefits to its employees as it deems necessary. Employees of the research corporation shall not be entitled to any benefits conferred under chapter 76 relating to civil service, chapter 78 relating to public service, chapter 88 relating to pension and retirement systems, and the appropriate collective bargaining agreement, executive order, executive directive, or rule.