ITF

22 (B) Nomination Nominations for the post of President may be made only by Class B Members who have played in the Davis Cup at least ten (10) times, or by the Board of Directors. Any such nomination shall be in writing and must reach the Company not later than four months before the Annual General Meeting at which such election take place. (C) Election (a) The following procedure shall apply to the election of the President: (i) If there be only one candidate, he shall be declared elected (ii) If there is more than one candidate, a ballot shall be conducted and if upon such ballot: (b) One candidate received more than 50% of the votes cast, he shall be declared elected. (c) No candidate receives more than fifty percent (50%) of the votes cast, a second ballot shall be held for the two candidates who receive the highest number of votes provided that if a third candidate received twenty-five percent (25%) or more of the votes cast in the first ballot, he shall also be included in such second ballot. If on this second ballot, a candidate receives more than fifty percent (50%) of the votes cast, he shall be declared elected. If no candidate receives more than fifty percent (50%) of the votes cast on this second ballot, a third ballot shall be held for the two candidates who have received the highest number of votes. On this third ballot, the candidate receiving the highest number of votes shall be declared elected. In the event that the two candidates in the third ballot receive an equal number of votes, there shall be a further BALLOT between those two candidates only to determine the successful candidate. (D) Death, retirement or disability of the President In the event of the death, retirement or disability of the President, the Board Of Directors shall determine which one of its members shall assume the powers and duties of the President until a new President is elected at the next General Meeting, or until the disability of the President is removed. In the event of a Director assuming the powers and duties of the President he shall be entitled to remuneration for his services and to be paid all expenses incurred by him in the performance of his duties as may be agreed by the Board Of Directors from time to time. (E) Length of service The President may be re-elected for two further terms of four years, so that the maximum period of service as President is twelve years. All service as President is counted. Term limits as a Board Member and as President are to be considered independently from each other.

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