Term and Resignation. Initial appointments to the Academy Standards Board shall be for terms of one (1), two (2), or three (3) years; thereafter all members shall be appointed for terms of three (3) years, such that after the initial terms, the terms of at least two, but not more than three, members shall expire annually. Each voting member may serve for a maximum of two consecutive terms. Any member may resign his or her service at any time upon written notice to the Academy Standards Board. Any vacancy shall be filled for the remainder of the vacant term. A term of less than three years (including any partial term resulting from filling a vacancy) shall count toward the term limit unless the initial term was held for less than one (1) year.
Term and Resignation. All members shall be appointed for staggered terms of three (3) years, such that after the initial terms, the terms of at least two, but not more than three, members shall expire annually. Each voting member may serve for a maximum of two consecutive terms. Any member may resign his or her service at any time upon written notice to the Standards Board, at which time the Standards Board shall notify the Member’s Board of Directors of the vacancy. Any vacancy shall be filled for the remainder of the vacant term with an appointment by the Member’s Board of Directors. A term of less than three years (including any partial term resulting from filling a vacancy) shall count toward the term limit unless the initial term was held for less than one (1) year.
Term and Resignation. The initial term of this agreement shall be for five (5) years from the Effective Date, provided that the initial term can be extended at the Board’s sole option for up to three (3) additional one-year terms upon written notice to Custodian. The Custodian may resign as custodian hereunder upon one hundred and eighty (180) days’ written notice delivered to the Administrator. In the event of such resignation, or expiration or termination of the Agreement, a successor custodian will be appointed by the Administrator, and Voya shall at its expense provide transition services and cooperate in the transition of services, including the services of its agents and affiliates, and shall transfer to the successor Custodian any Fund hereunder, less such amounts as may earned as compensation as provided in Schedule B.
