Common use of Election; Term of Office Clause in Contracts

Election; Term of Office. The directors shall be elected by the shareholders at each annual shareholders’ meeting or at a special shareholders’ meeting called for such purpose. Despite the expiration of a director’s term, that director continues to serve until that director’s successor is elected and qualified or until there is a decrease in the authorized number of directors.

Election; Term of Office. The directors shall be elected by the shareholders at each annual shareholders’ ' meeting or to hold office until the next annual meeting of the shareholders and until their respective successors are elected and qualified. If, for any reason, the directors shall not have been elected at any annual meeting, they may be elected at a special shareholders’ meeting of shareholders called for such purpose. Despite the expiration of a director’s term, that director continues to serve until that director’s successor is elected and qualified or until there is a decrease purpose in the authorized number of directorsmanner provided by these Bylaws.