; chair The President shall— (A) appoint 5 members of the Board by and with the advice and consent of the Senate; and (B) designate a Chair from among the members. (6) Terms (A) Length Each Board member shall be appointed for a term of 5 years. (B) Amount Each Board member shall not serve more than 2 terms. (7) Vacancy A vacancy on the Board shall be filled in the manner in which the original appointment was made. (8) Basic pay To the extent or in the amounts provided in advance in appropriation Acts, members shall each be paid at a rate not to exceed the rate of basic pay for level II of the Executive Schedule. (d) Local boards (1) Applications (A) In general In establishing local boards pursuant to subsection (c)(1)(A), the Board shall consider applications on a competitive basis from State and local governments, which shall include the following: (i) The location of the local board, which must be in a covered region that— (I) possesses relevant assets for the development of technology