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Board Proposal 004
Fix the number of the directors serving on the Board to seven (7) directors.
According to the bylaws Article VII.1.1:
The Board of Directors shall consist of at least five (5) and no more than eleven (11) Directors. The exact number of directors shall be fixed, within those limits, by a resolution adopted by the Board.
Adoption of this resolution will fix the number of directors at seven (7) directors. The newly created vacancy will have a term of three (3) years from May 2012.