Common use of Number and Term Clause in Contracts

Number and Term. The number of directors of the Company shall be such number as shall be designated from time to time by resolution of the Board and initially shall be one (1). Each director (including any interim director chosen by the Board in accordance with Section 3 of this Article V) shall be a natural person and a majority of the directors (including any such interim director) constituting the Board at any time and from time to time must have their primary residences in the United States of America. The directors shall be elected at the annual meeting of the Shareholders, except as provided in Section 3 of this Article V. Xxxxx Xxxxxx Xxx is hereby elected as the initial director. Each director elected shall hold office for a term of one year and shall serve until his/her successor is elected and qualified or until his/her death, resignation or removal. Any director may be removed from the Board at any time by the vote of the holders of a majority of the Shares then outstanding.

Number and Term. The number of directors of the Company shall be such number as shall be designated from time to time by resolution of the Board and initially shall be one (1). Each director (including any interim director chosen by the Board in accordance with Section 3 of this Article V) shall be a natural person and a majority of the directors (including any such interim director) constituting the Board at any time and from time to time must have their primary residences in the United States of America. The directors shall be elected at the annual meeting of the Shareholders, except as provided in Section 3 of this Article V. Xxxxx Xxxxxxxxxx Xxxxxx Xxx is hereby elected as the initial director. Each director elected shall hold office for a term of one year and shall serve until his/her successor is elected and qualified or until his/her death, resignation or removal. Any director may be removed from the Board at any time by the vote of the holders of a majority of the Shares then outstanding.