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28 <br /> (e) The fixing of compensation of the Directors for <br /> serving on the Board of Directors or on any such committee. <br /> Section 10. Removal. Any committee or any member thereof may <br /> be discharged or removed by action of a majority of the Board of <br /> Directors present at a meeting at which a quorum is present. <br /> ARTICLE V <br /> Officers <br /> Section i. Number of Officers. The officers of the <br /> corporation shall be a Chairman of the Board of Directors, a Vice- <br /> Chairman of the Board of Directors, a President, a Secretary, a <br /> Treasurer and such other officers as may be appointed in accordance <br /> with the provisions of Section 3 of this Article. Any two (2) <br /> offices or more may be held by one (1) person, except the offices <br /> of President and Secretary; but no officer shall sign or execute <br /> any document in more than one (1) capacity, or otherwise act in <br /> more than one (1) capacity where action of two (2) or more officers <br /> is required. <br /> Section 2. Election. Term of Office and Qualifications. Each <br /> officer, except such officers as may be appointed in accordance <br /> with the provisions of Section 3 of this Article, shall be elected <br /> by the Board of Directors at its annual meeting and shall hold <br /> office for two (2) years with each officer's term of office <br /> beginning on the first day of July after the officer's election, <br /> and continuing until such officer's successor shall have been duly <br /> elected and qualified or until the officer's death or resignation <br /> or disqualification or removal from office. <br /> Ra12\R55090-006\0047496.06\10-07-94 19 <br />