Section 5
SEC. 5. The first appointees to the Board shall serve as designated by the President in their respective-appointments, three for a term of two years, three for a term of three years, and three for a term of four years from the date they qualify and assume office; but their sucessors shall be appointed for a term of six years, except that any person chosen to fill a vacancy in the Board shall serve only for the unexpired term of the member whom he succeeds. Each member shall, for each day of meeting actually attended by him, receive from the general fund of the Foundation a per diem of not more than twenty-five pesos: Provided, That no per diem shall be paid to any member for more than one meeting within a week.