Number, Election and Term of Office. The affairs of the Company shall be managed by a board of directors (the “Board of Directors”) of not less than one (1) nor more than five (5) directors, the exact number to be fixed, from time to time, by the Member (except as otherwise provided in the last sentence of this section). The directors shall be elected annually, and each director shall continue in office until his successor shall have been elected, or until his death, or until he shall resign or shall have been removed in the manner hereinafter provided. At any election, the persons receiving the greatest number of votes shall be the directors. As of the date hereof, the size of the Board of Directors is fixed at one (1), and the directors of the Company consist of Xxxxxxx X. Xxxxxxx.
Appears in 9 contracts
Samples: Limited Liability Company Agreement (Horizon Lines Ventures, LLC), Limited Liability Company Agreement (Horizon Lines Ventures, LLC), Limited Liability Company Agreement (Horizon Lines Ventures, LLC)
