Common use of Election, Term of Office and Qualifications Clause in Contracts

Election, Term of Office and Qualifications. The officers shall be chosen annually by the Board of Directors at its first regular meeting following the annual meeting of stockholders and each shall hold office until the corresponding meeting in the next year and until his successor shall have been elected and shall qualify, or until his earlier death or resignation or until he shall have been removed in the manner provided in Section 4.3. Any vacancy in any office shall be filled for the unexpired portion of the term by the Board of Directors at any regular or special meeting.

Election, Term of Office and Qualifications. The officers shall be chosen annually by the Board board of Directors directors at its first regular meeting following the annual meeting, or as soon after such annual meeting of stockholders and each as may conveniently be possible. Each officer shall hold office until the corresponding meeting in the next year and until his successor shall have been elected is chosen and shall qualifyqualified, or until his earlier death or resignation death, or until he shall have resigned, or shall have been removed in the manner provided in Section 4.3. Any vacancy in any office shall be filled for the unexpired portion of the term by the Board of Directors at any regular or special meeting4.