Common use of Board of Directors; Officers Clause in Contracts

Board of Directors; Officers. (a) At its annual meeting, the Board of Directors shall elect, from among its members, a chairman who shall preside at meetings of the Board of Directors and the stockholders. The Board of Directors may also elect such other officers of the Board of Directors and for such term as it may, from time to time, determine advisable. (b) Any vacancy in any office of the Board of Directors because of death, resignation, removal or otherwise may be filled by the Board of Directors for the unexpired portion of the term of such office.

Board of Directors; Officers. (a) At its annual meeting, the Board of Directors shall elect, may elect from among its members, a chairman who shall preside at meetings of the Board of Directors and may preside at meetings of the stockholdersshareholders. The Board of Directors may also elect such other officers of the Board of Directors and for such term terms as it may, may from time to time, determine time deem advisable. (b) Any vacancy in any office of the chairman of the Board of Directors because of death, resignation, removal or otherwise may be filled by the Board of Directors for the unexpired portion of the term of such office.