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200808925 to the feasibility, practicability, or structural or other soundness or suitability of any such final plans or specifications, or any such proposed building or structure. 4. Subject to regulations or rules from time to time adopted by it, the Architectural Control Committee shall consider requests for partial or entire waiver of application of any covenant or easements subject to such waiver by the Corporation and may issue a permit granting any such request to the extent consistent with factors of concern to the Corporation. G. Other Committees: There may be an Executive Committee of the Board of Directors and other committees of the Board of Directors as the Chairman and Members of the Board of Directors may from time to time determine necessary. H. Liabilitv: No Director shall be accountable or liable for any expense, gain, loss or profit, in connection with any transaction in which such Director may have an actual or potential direct or indirect adverse interest; and no such transaction shall be void or voidable, even if the vote of such Director may be required for its authorization or ratification. I. Fees and Expenses: The Directors shall serve without remuneration for their services as Directors, but the Board of Directors may provide for the reimbursement of expenses incurred by them. SECTION III. OFFICERS A. Officers: Officers shall be appointed and elected as follows: 1. The principal officers shall be a President, Vice President and Secretary- Treasurer, who shall not be required to be Directors, who shall be elected annually by the Board of Directors at each annual meeting for a term of one (1) year, and who may succeed themselves in office. 2. The Board of Directors may from time to time appoint, discharge, engage or remove subordinate officers to the principal officers that may be necessary for the management of the affairs of the Corporation. 3. The officers shall have the powers and rights and be charged with the duties and obligations usually vested in such officers or as directed by the Board of Directors. B. Vacancies: The office of any principal officer shall be vacated and filled as follows: 1. Any principal officer may be removed from office at any time by a majority vote of the Board of Directors, either for or without cause.