Common use of President of the Foundation Clause in Contracts

President of the Foundation. 1. The Board of Governors shall select the President among the nominees submitted by the Members of the EU-LAC Foundation. The President shall be appointed for a four-year term, renewable once. 2. The President shall be a well-known and highly respected personality both in Latin America and the Caribbean and in the EU. The President shall serve in a voluntary capacity, but shall be entitled to reimbursement of any necessary and duly justified expenses. 3. The President's office shall alternate between a national of an EU Member State and a national of a Latin American or Caribbean State. If the appointed President comes from an EU Member State, the appointed Executive Director shall come from a Latin American or Caribbean State, and vice versa. 4. The President shall: (a) represent the Foundation in its external relations, ensuring a visible and representative role through high level contacts with authorities from Latin American and Caribbean States and from the EU and the EU Member States, and with other partners; (b) report to the Foreign Ministers' meetings, other ministerial meetings, the Board of Governors and other important meetings as may be required; (c) provide advice to the Executive Director in the preparation of the draft multi-annual and annual work programme and the draft budget for the approval of the Board of Governors; (d) conduct other tasks as agreed by the Board of Governors.