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< Ç¡\ of the Board of Directors. If a quorum shall not be present at any meeting of the Board of Directors, a majority of the Directors present may adjourn the meeting from time to time without further notice. , Section 8. MANNER OF ACTING. The act of the majority of. the Directors present at a meeting at which a quorum is present shall be the act of the Board of Directors. ; Section 9. COMMITTEES. The 'Board of Directors may appoint such committees and delegate to such committees such powers and responsibilities as it may from time to time deem appropriate. , Section 10. INFORMAL ACTION' BY DIRECTORS. Any action re- quired or permitted to be taken at a meeting of the Directors may be taken without a meeting if a consent in writing setting forth the action so taken shall be signed by all of the Directors. Such consent shall have the same force and effect as a unanimous vote of ,the Directors. ARTICLE IV. Officers Section 1. NUMBER. The Officers of the Corporation shall be elected by the Board of Directors and shall include a President, a ,"'Yic,e Presicient( 'a .secretary and a ,'¡'reasurer. , Th~ Board of Direc- tors'may also'appoint:such other Otficers andA'ssfstahtOffiè::er.sas it may deem necessary., Except as prqvided in these Bylaws, the Board ot Directors shall fix the powers, duties and compensation of all Officers. Officers may, but need not be Directors of the Cor- poration. Section 2. ELECTION AND TERM OF OFFICE. Officers shall be elected at each annual meeting of the Board of Directors and shall hold office at the pleasure of the Board. Each Officer shall hold ,office until his successor shall have been duly elected unless , prior thereto he ,shall have resigned or been removed from office as hereinafter provided. , Section 3. REMOVAL AND VACANCIES. Any officer or agent elected or appointed by the Board of Directors may be removed from office with or without cause at any time by the vote of a majority of the Board of Directors. Any vacancy in any office of the Cor- poration shall be filled by the Board of Directors. Section 4. PRESIDENT. The President shall be the Chief Executive Officer of the Corporation, shall have general and active management of the business of the Corporation and shall see that 'all orders and resolutions of the Board of Directors are carried into effect. He shall have the general powers and duties usually vested in the office of the president of a corporation and shall, 4