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SECTION 5. SALARIES. - Directors as such shall not receive any salary for their services, but by resolution of the Board of Directors, expense of attendance, if any, may be allowed for attendance at each regular or special meeting of the Board; provided, that nothing herein contained shall be construed to preclude any Director from serving the corporation in any other capacity and receiving compensation therefor. ARTICLE III OFFICERS SECTION 1. EXECUTIVE OFFICERS. - The executive officers of the corporation shall be a President, a Vice-President, a Treasurer and a Secretary, all of whom shall be elected annually by the directors, and shall hold office during the pleasure of the directors. Any two officers or more (other than those of President and Secretary) may be held by one person. All vacancies occurring among any of the above officers shall be filled by the directors. Any officer may be removed at any time by the affirmative vote of a majority of the directors at a special meeting of directors called for the purpose. SECTION 2. SUBORDINATE OFFICERS. - The Board of Directors may appoint such other officers and agents with such powers and duties as it shall deem necessary. SECTION 3. THE PRESIDENT. - The President, who shall be a director, shall preside at all meetings of the stockholders and directors. While the directors are not in session, he shall have general management and control of the business and affairs of the corporation. SECTION 4. THE VICE-PRESIDENT. - The Vice-President, in the absence or disability of the President, shall exercise the powers and perform the duties of the President and he shall exercise such other powers and perform such other duties as shall be prescribed by the directors. SECTION 5. THE TREASURER. - The Treasurer shall have custody of all funds, securities and evidence of indebtedness of the corporation; he shall receive and give receipts and acquittances for moneys paid in on account of the corporation, and shall pay out of the funds on hand all bills, pay-rolls, and other just debts of the corporation, of whatever nature, upon maturity; he shall enter regularly in books to be kept by him for that purpose, full and accurate accounts of all moneys received and paid out by him on account of the corporation, and he shall perform all other duties indicent to the office of Treasurer and as may be prescribed by the directors. SECTION 6. THE SECRETARY. - The Secretary shall keep the minutes of all proceedings of the directors and of the stockholders; he shall attend to the giving and serving of all notices to the stockholders and directors or other notice required by law or by these By-Laws; he shall affix the seal of the corporation to deeds, contracts and other instruments in writing required by a seal, when duly signed or when ordered by the