Initial Selection Process. Hanover's Nominating and Corporate Governance Committee shall review each of the candidates submitted to it by Lead Plaintiffs' Counsel and select from among them the two determined by the Committee in the exercise of its business judgment as the most appropriate for being added to Hanover's Board. In the event that two are not selected from those presented to the Nominating and Corporate Governance Committee, Lead Plaintiffs' Counsel shall be advised of this determination, including the reasons for it, and shall be given an opportunity (utilizing the process noted above) to continue to submit qualified candidates until two candidates are identified. Once two candidates are identified, the Nominating and Corporate Governance Committee shall recommend to the Board, and the Board shall, subject to its fiduciary duties, elect the two candidates.
Initial Selection Process. As an initial matter, all current Avis RSAs (including those who work in the Avis Preferred Booth) and all current Budget RSAs had a one-time opportunity to bid for this new job classification, based on seniority, as such employees have the highest transferrable skills knowledge and training in order to perform this job function. In the event there were insufficient volunteers, the position was then posted for application to employees at both the Avis and the Budget brands at the Toronto International Airport. Applicants were chosen based on their qualifications for the position. When ability, merit and capacity are equal, employees with the highest seniority will be given preference.
