(a) The term of the initial board of directors expires at the first shareholders’ meeting at which the post-incorporation board of directors is elected.

(b) Nothing contained in this section shall be construed to mean that the same individuals who served on the initial board of directors cannot subsequently be elected to serve on the board of directors once the corporation is formed.

(c) Terms of all other directors expire at the annual shareholders’ meeting following their election, unless the articles of incorporation call for staggered terms.

(d) A decrease in the number of directors does not shorten an incumbent director’s term.

(e) The term of a director elected to fill a vacancy expires at the next shareholders’ meeting at which directors are elected.

(f) Despite the expiration of a director’s term, he or she shall continue to serve until a successor is elected and qualifies; or until there is a decrease in the number of directors. [Ord. 18 Part III § 3, adopted, 10/7/2008.]