1. However, the board can nonetheless continue to classify the director as independent, provided that the board's assessment is clearly explained to the market. See id. � 3.C.4. A nine-year term limit is imposed also by Israeli law, under which minority shareholders only have veto rights over an enhanced-independence director's initial appointment, but can appoint that director to two additional terms of three years each even against the controller's objections. See Israeli Companies Law;Italian See;See also Bebchuk & Hamdani Independent
2. Independent Directors and Controlling Shareholders