Common use of Selection and Term of Executive Officers Clause in Contracts

Selection and Term of Executive Officers. (a) The Executive Officers as of the date of this Agreement are listed on Appendix C. (b) The CEO shall hold office until December 31, 2010, subject to the CEO’s earlier death, resignation or removal. Upon the expiration of such term or earlier vacancy, the Managing General Partner shall designate the CEO, provided that such person shall be reasonably acceptable to the other Designating Partner. The CEO shall not be required to be an employee of the Partnership. (c) Each Executive Officer (other than the CEO) shall hold office for a five-year term, subject to such Officer’s earlier death, resignation or removal. Upon the death, resignation or removal of an Executive Officer, or the creation of a new Executive Officer position, the CEO may nominate a person to fill the vacancy, which shall be subject to Partnership Governance Committee approval. Executive Officers shall not be required to be employees of the Partnership. Any Executive Officer also may serve as an officer or employee of any Partner or Affiliate of a Partner.

Selection and Term of Executive Officers. (a) The Executive Officers as of the date of this Agreement are listed on Appendix C. (b) The CEO shall hold office until December 31, 2010, subject to the CEO’s earlier death, resignation or removal. Upon the expiration of such term or earlier vacancy, the Managing General Partner shall designate the fee CEO, provided that such person shall be reasonably acceptable to the other Designating Partner. The CEO shall not be required to be an employee of the Partnership. (c) Each Executive Officer (other than the CEO) shall hold office for a five-year term, subject to such Officer’s earlier death, resignation or removal. Upon the death, resignation or removal of an Executive Officer, or the creation of a new Executive Officer position, the CEO may nominate a person to fill the vacancy, which shall be subject to Partnership Governance Committee approval. Executive Officers shall not be required to be employees of the Partnership. Any Executive Officer also may serve as an officer or employee of any Partner or Affiliate of a Partner.

Selection and Term of Executive Officers. (a) The initial Executive Officers as of the date of this Agreement are listed on Appendix C. (b) The CEO shall hold office until December 31, 2010for a three-year term, subject to the CEO’s 's earlier death, resignation or removal. Upon the expiration of such term or earlier vacancydeath, the Managing General Partner resignation or removal, OCC GP shall designate the replacement CEO, provided that such person shall be reasonably acceptable to the other Designating Partner. The CEO shall not be required to be an employee of the Partnership but shall be required to devote substantially all of his or her efforts to the Partnership's business. (c) Each Executive Officer (other than the CEO) shall hold office for a five-year term, subject to such Officer’s earlier until his or her death, resignation or removal. Upon the death, resignation or removal of an Executive Officer, or the creation of a new Executive Officer position, the CEO may nominate a person to fill the vacancy, which shall be subject to Partnership Governance Committee approval. Executive Officers shall not be required to be employees of the Partnership. Any Executive Officer also may serve as an officer or employee of any Partner or Affiliate of a Partner.