of the corporation in accordance with such procedures as may be provided in the bylaws. (ii) Vacancies Vacancies in any such elected Board position and in any newly created Board position may be filled by a vote of the remaining members of the Board of Directors in accordance with such procedures as may be provided in the bylaws. (b) Terms of office (1) In general The term of office of each member of the Board of Directors shall be 2 years, except that any member of the Board of Directors elected by the Board to fill a vacancy in a Board position arising before the expiration of its term may, as determined by the Board, serve for the remainder of that term or until the next meeting of the corporation. (2) Staggered terms The terms of office of members of the Board of Directors (other than the President) shall be staggered. Elections of the Board of Directors shall take place in the winter quarterly meeting and each July at the annual meeting. (c) Committees and officers The Board— (1) may appoint, from its own members, an executive committee to exercise such powers of the Board when the Board is not in session as may be provided in the bylaws