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Article (20): Resignation of Board Members

Should the Chairman and Board Members submit their resignations or should the vacant positions reach one quarter of the Company’s board members, the Governor shall:

1)

Form an interim committee comprising experienced and specialized individuals and appoint a chairman and vice-chairman among its Members to assume the management of the Company;

2)

Call for a general assembly meeting within a period not exceeding (3) three months following date of forming the committee, renewable for a similar period only once, in order to elect a new board of directors of the Company. The Company shall bear the committee’s remunerations, as decided by the Governor.