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7 <br />Attachment 1 <br />paragraph, however, are advisory only, and shall not be deemed to create rights in any <br />Director or any other person. <br />3.04. Resi ng ation. Any Director may, by written notice to the Secretary, resign at <br />any time. <br />3.05. Removal. (a) A County Director may be removed only by such Director's <br />appointing authority. <br />(b) A Bank Director or Small Business Director may be removed from office, <br />without cause, by the vote of not less than four Directors, provided that either (i) notice of <br />the meeting has indicated the possible removal of a Director as among the purposes of the <br />meeting, or (ii) all Directors then serving in office are in attendance at the meeting. <br />3.06. Filling Vacancies. (a) Any vacancy of a County Director may be filled only <br />by the proper appointing authority for such Director. <br />(b) The Board may fill vacancies among the Bank Directors or Small Business <br />Directors at any meeting of the Directors, provided that (i) notice of the meeting has <br />indicated the possible election of a Director as among the purposes of the meeting, or (ii) <br />all Directors then serving in office are in attendance at the meeting. Any Director so <br />elected to fill a vacancy shall serve until the next election of Directors and until such <br />Director's successor is elected and qualified. <br />3.07. Compensation._ No officer or Director of the Company shall receive any <br />compensation for service to the Company in any capacity, except that County Directors <br />and other County officers and employees may perform services to the Company as part of <br />their respective positions with the County. Directors and officers may, however, receive <br />appropriate reimbursement for expenditures made on behalf of the Company and <br />approved by the Board, and in addition Directors and officers may receive meals and <br />services in connection with Board or committee meetings. <br />ARTICLE IV <br />COMMITTEES <br />4.01 Loan Committee. The Board shall, from time to time as may be convenient <br />for the Company's purposes meet as a Loan Committee of the whole for the purposes of <br />considering applications for loans through the Small Business Loan Program for which <br />the Company has been formed, and for related purposes. <br />4.02 Other Committees. The Board, upon authorization by the affirmative vote of <br />at least five Directors (including at least two County Directors), may from time to time <br />establish additional committees and appoint committee members, for such purposes not <br />inconsistent with law (including N.C.G.S 55A -8 -25) as the Board may determine from <br />