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4 ` <br /> ARTICLE VII 1 <br /> The number of directors of the corporation, their term and election may be fined by the <br /> corporation's Bylaws,but shall not be less than three in number. <br /> The number of directors constituting the initial board of directors shall br: :riiae, and the <br /> names and addresses of the persons who are to serve as the initial directors are as fellows: <br /> Margaret W. Brown John Link,Jr. <br /> Commissioner, Orange County Orange County Manager <br /> c/o County Manager's Office 200 South Cameron St. <br /> 200 South Cameron St. Hillsborough,NC 27278 <br /> Hillsborough,NC 27278 <br /> Kenneth T. Chavious [Six Independent Directors,to come,j <br /> Orange County Finance Officer <br /> 208 South Cameron St. <br /> Hillsborough,NC 27278 <br /> The corporation's officers shall be elected by the corporation's directors, in the manner set <br /> out in the Bylaws. <br /> ARTICLE VIII <br /> The private property of the Directors shall be exempt from execution or other liability for <br /> any debts of the Company, and no Director shall be personally liable or responsible for any debts <br /> or liabilities of the Company. <br /> The provisions of N.C.G.S. Chapter 55A, Article 8, Part 5, or any successor provision, <br /> shall fully apply without restriction or limitation as to indemnification of and advancing <br /> litigation expenses to directors,officers, employees or agents of the corporation. <br /> To the extent provided in N.C.G.S. Section 55A-8-60, except as limited by N.C.G.S. <br /> Section 55A-2-02, no director, officer, employee or agent of the corporation shall be personally <br /> liable for money damages as a result of any action for breach of such person's duty as a director, <br /> officer, employee or agent of the corporation, whether by or in the right of the corporation or <br /> otherwise. <br />