; and (ii) by striking paragraph (3) and inserting the following: (3) Terms Each Director (other than a Director described in paragraph (1)) shall be appointed for a term of 6 years. ; and (B) in subsection (g)(2)— (i) in subparagraph (A), by striking (A) Officers and employees may not be appointed until the Foundation has sufficient funds to pay them for their service. Officers and inserting the following: (A) In general Officers ; and (ii) by striking subparagraph (B) and inserting the following: (B) Executive Director The Foundation shall have an Executive Director who shall be— (i) appointed by, and serve at the direction of, the Board as the chief executive officer of the Foundation; and (ii) knowledgeable and experienced in matters relating to fish and wildlife conservation. . (2) Conforming amendment Section 4(a)(1)(B) of the North American Wetlands Conservation Act ( 16 U.S.C. 4403(a)(1)(B) ) is amended by striking Secretary of the Board and inserting Executive Director of the Board . (b) Rights and obligations of Foundation Section 4 of the National Fish and Wildlife Foundation Establishment Act ( 16 U.S.C. 3703 ) is amended— (1) in subsection (c)— (A) by striking (c) Powers .—To carry out its purposes under and inserting the following: (c) Powers (1) In general To carry out the purposes described in ; (B) by redesignating paragraphs (1) through (11) as subparagraphs (A) through (K), respectively, and indenting appropriately; (C) in subparagraph (D) (as redesignated by subparagraph (B)), by striking that are insured by an agency or instrumentality of the United States and inserting at 1 or more financial institutions that are members of the Federal Deposit Insurance Corporation or the Securities Investment Protection Corporation ; (D) in subparagraph (E) (as redesignated by subparagraph (B)), by striking paragraph (3) or (4) and inserting subparagraph (C) or (D) ; (E) in subparagraph (J) (as redesignated by subparagraph (B)), by striking and at the end