(5)TERM OF SERVICE.—
(A)IN GENERAL.—The term of service of each Board member shall be 5 years, and until a successor is appointed, except that—
(i)the terms of office of the initial Board members (other than the chairperson) shall expire in annual increments, 1 on each of the first 4 anniversaries of the initial date of appointment; and
(ii)any Board member appointed to fill a vacancy occurring before the expiration of the term for which the predecessor was appointed shall be appointed only for the remainder of that term.