Common use of Election of Board Officers Clause in Contracts

Election of Board Officers. At each Annual Meeting of the Board of Directors, the Board of Directors shall elect the principal officers of the Board, which principal officers shall be a Chairman, a Vice Chairman, a Secretary and such other Board officers as may be established by the Board. The Chairman, Vice Chairman and Secretary must be Directors of the Company. A board officer may be removed by the Board of Directors whenever in its judgment the best interests of the Company will be served thereby. If any vacancy shall occur among the principal officers of the Board, it shall be filled by the Board of Directors at its next regular meeting following the vacancy.