The President shall designate a Chairman and Vice Chairman from among those directors appointed under subparagraph (B)(iii)(II). (D) Terms (i) In general Except as provided in clauses (ii) and (iii), each director shall be appointed for a term of 3 years. (ii) Initially appointed members Of the directors first appointed under subparagraph (B)— (I) 2 shall hold office for a term expiring on December 31, 2017