Composition of the Board of Directors. (a) The Company shall have a Board of Directors composed of 12 (twelve) members each Director having a term in office of 3 (three) years, re-election being permitted. Subject to the provisions of Sections 2.12 and 6 hereto, each of the TEF Group and the PT Group shall have the right to make binding nominations to appoint 6 (six) Directors, provided that at least 3 (three) of each such 6 (six) Directors shall be required to be resident in the Netherlands.
Appears in 6 contracts
Samples: Shareholders Agreement (Telefonica Mobile Inc), Shareholders Agreement (Telefonica Mobile Inc), Shareholders Agreement (Portugal Telecom SGPS Sa)
