(h)Assistant Treasurer. The assistant treasurer, or if there shall be more than one, the assistant treasurers in the order determined by the Member, shall, in the absence or disability of the treasurer, perform the duties and exercise the powers of the treasurer and shall perform such other duties and have such other powers as the Member may from time to time prescribe.
(i)In addition to the foregoing officers, the Member reserves the right to appoint other officers from time to time, with such authority and responsibilities as may be specified by the Member and to ensure the Company’s compliance with record keeping, reporting and financial requirements of applicable laws and regulations.
4.3 Salaries. The salaries or other compensation, if any, of the officers and agents of the Company shall be fixed by the Member.
4.4 Term of Offices. Except as otherwise agreed in writing between the Company and an officer, any officer may be removed, either with or without cause, by the Member at any time. The officers of the Company shall hold office until their successors are chosen and qualify, or until their earlier resignation or removal. Any vacancy occurring in any office shall be filled by the Member.
4.5 Officer’s Limitation of Liability. No Officer shall be liable to the Company for monetary damages for breach of fiduciary duty or an act or omission in his or her capacity as an officer; provided, however, that nothing contained herein shall eliminate or limit the liability of a officer (i) for any breach of the officer’s duty of loyalty to the Company or its Member, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law, and (iii) for any transaction from which the officer derived an improper personal benefit.
5. Indemnification.The Company shall indemnify and hold harmless the Member, and officers, and where applicable, the Member’s partners, shareholders, officers, directors, managers, employees, agents and representatives and the partners, shareholders, officers, directors, managers, employees, agents and representatives of such persons (each an “Indemnified Party”) from and against any and all liabilities, expenses, claims, demands and actions of every kind and nature whatsoever which may arise in connection with the Company or out of or by reason of the Member’s and officer’s performance of his duties and responsibilities as contained in the Certificate of Formation, this Agreement, or the Act, to the fullest extent of the Act, except liabilities arising (i) as a result of a breach of any provision of this Agreement, (ii) for any breach of the officer’s duty of loyalty to the Company or to its Member, (iii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law, and (iv) for any transaction from which the officer derived an improper personal benefit. Such indemnification shall continue as to a Person who has ceased to hold the office or position giving rise to the indemnification of this Section 5 and shall inure to the benefit of the successor, heirs, executors, and administrators of such Person. The right to indemnification conferred in this Section 5 shall also include the right to be paid by the Company the expense incurred in connection with any proceeding in advance of its disposition to the fullest extent permitted by the Act. The right to indemnification conferred in this Section 5 shall be a contract right.
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