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<br />June 30, 2001 <br />June 30, 2001 <br />June 30, 2001 <br />The term of each Independent Director shall continue until such Director's <br />successor has been duly appointed and qualified for office. Independent Directors <br />may serve an unlimited number of terms. <br />Each year, not earlier than May 1 and not later than June 15, beginning in <br />the year 2000, the three Independent Directors whose terms extend beyond the <br />following July 1 and the County Directors shall meet to elect three Independent <br />Directors to take office on the following July 1. Such meeting and election may <br />take place upon the conclusion of the Board's regular annual meeting provided for <br />in Section 5.01. Each Independent Director so elected shall be elected for a term <br />of two years. <br />In the case of any vacancy among the Independent Directors occurring other <br />than by the expiration of a term, the remaining Directors shall select a person to <br />serve as an Independent Director for the remaining portion of the term. <br />3.07. Compensation. No officer or Director of the Company shall receive <br />any compensation for service to the Company in any capacity, except that County <br />Directors and other County officers and employees may perform services to the <br />Company as part of their respective positions with the County. Directors and <br />officers may, however, receive appropriate reimbursement for expenditures made <br />on behalf of the Company and approved by the Board, and in addition Directors <br />and officers may receive meals and services in connection with Board or <br />committee meetings. <br />