Thanks @kauffdiggity for the trust. As far as the term length, it is as follows:
As this is an interim position, the duration of the position shall last until any of the following conditions are met:
-The to-be-formed foundation is incorporated;
-Validator nodes are live and the community can choose to elect a new Chair or reaffirm Dave McCoy's position;
-Another proposal is passed to replace Dave McCoy with another elected representative; or
-Dave McCoy releases a public statement via a post on the HIVE blockchain expressing a desire to abdicate the position.