Common use of Vacancies; Newly Created Directorships Clause in Contracts

Vacancies; Newly Created Directorships. Except as otherwise fixed by resolution of the Board of Directors pursuant to the Articles of Incorporation relating to the authorization of the Board of Directors to provide by resolution for the issuance of Preferred Stock and to determine the rights of the holders of such Preferred Stock to elect directors, any vacancies on the Board of Directors resulting from death, resignation, retirement, disqualification, removal from office, or other cause, and newly created directorships resulting from any increase in the authorized number of directors, may be filled only by a majority vote of the directors then in office, though less than a quorum, or by a sole remaining director, and the director(s) so chosen shall hold office (i) in the case of the replacement of a director, during the remainder of the term of office of the replaced director and (ii) in the case of an increase in the number of directors, until the next annual meeting of stockholders at which directors are elected, unless sooner displaced.