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200314908 Section 3. Managing Agent and Manager. The Executive Board may employ for the condominium a managing agent and /or a manager at a compensation established by the Executive Board, to perform such duties and services as the Executive Board shall authorize, including but not limited to the duties listed in subdivisions (a), (c), (d), (g) and (h) of Section 2 of this Article III. The Executive Board may delegate to the manager or managing agent, all of the powers granted to the Executive Board by these By -Laws other than the powers set forth in subdivisions (b), (e), and (f), of Section 2 of this Article III. Section 4. Election and Term. The members of the Executive Board shall be elected to serve until the next annual meeting of the Association. Each Executive Board Director shall be elected to serve a term of one (1) year or until his successor shall have been duly elected by the Association. Directors shall be elected by majority vote of the members, there being one vote for each unit in the condominium. Section 5. Removal of Directors. At any regular or special meeting of the Association, any one or more of the members of the Executive Board may be removed with or without cause by a vote of a majority of the members and a successor may then and there or thereafter be elected to fill the vacancy thus created. Any members of the Executive Board whose removal has been proposed by the Association owners shall be given reasonable notice of and an opportunity to be heard at the meeting. Section 6. Vacancies. Vacancies in the Executive Board caused by any reason other than the removal of a member thereof by a vote of the Association shall be filled by vote of a majority of the remaining Directors at a special meeting of the Executive Board held for that purpose promptly after the occurrence of any such vacancy, even though the members present at such meeting may constitute less than a quorum, and each person so elected shall be a member of the Executive Board for the remainder of the term of the member so removed and until a successor shall be elected at the next annual meeting of the Association. Section 7. Annual Board Meeting. The annual meeting of the members of the Executive Board shall be held immediately following the annual meeting of the Association, at such time and place as shall be fixed by the Association at the meeting at which such Executive Board shall have been elected, and no notice shall be necessary to the newly elected members of the Executive Board in order to legally constitute such meeting, providing a majority of the whole Executive Board shall be present thereat. Section 8. Special Board Meetings. Special meetings of the Executive Board may be called by the President upon five (5) business days' notice to each member of the Board, given by mail, which notice shall state the time, place, and purpose of the meeting. Special meetings of the Executive Board shall be called by the President or Secretary in like manner and like notice on the written request of at least three (3) members of the Executive Board, unless there are less than three (3) members, in which event, upon the written request of the one or two remaining. 5