Common use of Designation Term Qualifications Clause in Contracts

Designation Term Qualifications. Subject to Section 5.3, Polo and the Media Representative together, or the Management Committee may, from time to time, designate and appoint the chief executive officer of the Company ("CEO"). The CEO so designated will have the authority to retain executive-level officers and employees of the Company (the "Officers"); provided, however, that with respect to the Vice President of Public Relations, the Vice President of Advertising & Marketing and the Vice President of Merchandising (i) Polo shall propose to the CEO a number of qualified individuals for those positions (which may involve combining two positions), (ii) the CEO shall then choose among the nominated individuals the persons most qualified for the positions of Vice President of Public Relations, Vice President of Advertising & Marketing and Vice President of Merchandising that he will then recommend to the Media Representative, and (iii) the Media Representative's consent shall be required for each such individual's appointment, which consent shall not be unreasonably withheld; provided, further, that with respect to the chief financial officer ("CFO") (A) the Media Representative shall propose to the CEO a number of qualified individuals for the position of CFO, (B) the CEO shall then choose among the nominated individuals the persons most qualified for the position of CFO that he will then recommend to Polo, and (C) Polo's consent shall be required for such individual's appointment, which consent shall not be unreasonably withheld. Any Officer so designated will have such authority and perform such duties as Polo and the Media Representative together or the Management Committee may, from time to time, delegate to them. Polo and the Media Representative together or the Management Committee may assign titles to particular Officers, and the assignment of such title will constitute the delegation to such Officer of the authority and duties that are normally associated with such office in a corporation for profit incorporated under the General Corporation Law of the State of Delaware, subject to any specific delegation of authority and duties made to such Officer by Polo and the Media Representative together or the Management Committee pursuant to this Section 6.1. Each Officer will hold office for the term for which such Officer is designated and until such Officer's successor is duly designated and qualified or until the earlier of such Officer's death, resignation or removal as provided in this Agreement. Any person may hold any number of offices. An Officer need not be a Delaware resident or a United States citizen. All Officers will be natural persons. Designation of a person as an Officer of the Company will not\of itself create any contract rights.

Designation Term Qualifications. Subject to Section 5.3, Polo and the Media Representative together, or the Management Committee may, from time to time, designate and appoint the chief executive officer of the Company ("CEO"). The CEO so designated will have the authority to retain executive-level officers and employees of the Company (the "Officers"); provided, however, that with respect to the Vice President of Public Relations, the Vice President of Advertising & Marketing and the Vice President of Merchandising (i) Polo shall propose to the CEO a number of qualified individuals for those positions (which may involve combining two positions), (ii) the CEO shall then choose among the nominated individuals the persons most qualified for the positions of Vice President of Public Relations, Vice President of Advertising & Marketing and Vice President of Merchandising that he will then recommend to the Media Representative, and (iii) the Media Representative's consent shall be required for each such individual's appointment, which consent shall not be unreasonably withheld; provided, further, that with respect to the chief financial officer ("CFO") (A) the Media Representative shall propose to the CEO a number of qualified individuals for the position of CFO, (B) the CEO shall then choose among the nominated individuals the persons most qualified for the position of CFO that he will then recommend to Polo, and (C) Polo's consent shall be required for such individual's appointment, which consent shall not be unreasonably withheld. Any Officer so designated will have such authority and perform such duties as Polo and the Media Representative together or the Management Committee may, from time to time, delegate to them. Polo and the Media Representative together or the Management Committee may assign titles to particular Officers, and the assignment of such title will constitute the delegation to such Officer of the authority and duties that are normally associated with such office in a corporation for profit incorporated under the General Corporation Law of the State of Delaware, subject to any specific delegation of authority and duties made to such Officer by Polo and the Media Representative together or the Management Committee pursuant to this Section 6.1. Each Officer will hold office for the term for which such Officer is designated and until such Officer's successor is duly designated and qualified or until the earlier of such Officer's death, resignation or removal as provided in this Agreement. Any person may hold any number of offices. An No Officer may be a Manager or a Member, and an Officer need not be a Delaware resident or a United States citizen. All Officers will be natural persons. Designation of a person as an Officer of the Company will not\of not of itself create any contract rights.

Designation Term Qualifications. Subject to Section 5.3, Polo and the Media Representative together, or the Management Committee may, from time to time, designate and appoint the chief executive officer of the Company ("CEO"). The CEO so designated will have the authority to retain executive-level officers and employees of the Company (the "Officers"); provided, however, that with respect to the Vice President of Public Relations, the Vice President of Advertising & Marketing and the Vice President of Merchandising (i) Polo shall propose to the CEO a number of qualified individuals for those positions (which may involve combining two positions), (ii) the CEO shall then choose among the nominated individuals the persons most qualified for the positions of Vice President of Public Relations, Vice President of Advertising & Marketing and Vice President of Merchandising that he will then recommend to the Media Representative, and (iii) the Media Representative's consent shall be required for each such individual's appointment, which consent shall not be unreasonably withheld; provided, further, that with respect to the chief financial officer ("CFO")officer (A) the Media Representative shall propose to the CEO a number of qualified individuals for the position of CFO, (B) the CEO shall then choose among the nominated individuals the persons most qualified for the position of CFO that he will then recommend to Polo, and (C) Polo's consent shall be required for such individual's appointment, which consent shall not be unreasonably withheld. Any Officer so designated will have such authority and perform such duties as Polo and the Media Representative together or the Management Committee may, from time to time, delegate to them. Polo and the Media Representative together or the Management Committee may assign titles to particular Officers, and the assignment of such title will constitute the <PAGE> delegation to such Officer of the authority and duties that are normally associated with such office in a corporation for profit incorporated under the General Corporation Law of the State of Delaware, subject to any specific delegation of authority and duties made to such Officer by Polo and the Media Representative together or the Management Committee pursuant to this Section 6.1. Each Officer will hold office for the term for which such Officer is designated and until such Officer's successor is duly designated and qualified or until the earlier of such Officer's death, resignation or removal as provided in this Agreement. Any person may hold any number of offices. An Officer need not be a Delaware resident or a United States citizen. All Officers will be natural persons. Designation of a person as an Officer of the Company will not\of itself create any contract rights.