Common use of Business Management Clause in Contracts

Business Management. The Parties shall appoint the key Management of the Joint Venture, which shall be responsible for the daily management of the Joint Venture. The key Management will consist of a General Manager chosen by Party A and a Deputy General Manager chosen by Party B. The term of office of the General Manager and Deputy General Manager shall be one year, renewable at the discretion of the respective Parties.

Business Management. The Parties shall appoint the key Management of the Joint Venture, which shall be responsible for the daily management of the Joint Venture. The key Management will consist of a General Manager chosen by Party A and a two Deputy General Manager Managers chosen by Party B. The term of office of the General Manager and Deputy General Manager shall be one yearfour years, renewable at upon the discretion approval of the respective PartiesBoard of Directors.