[§414-195]  Terms of directors generally. (a)  The terms of the initial directors of a corporation expire at the firstshareholders' meeting at which directors are elected.

(b)  The terms of all other directors expire atthe next annual shareholders' meeting following their election unless theirterms are staggered under section 414-196.

(c)  A decrease in the number of directors doesnot shorten an incumbent director's term.

(d)  The term of a director elected to fill avacancy expires at the next shareholders' meeting at which directors areelected.

(e)  Despite the expiration of a director'sterm, the director continues to serve until the director's successor is electedand qualifies or until there is a decrease in the number of directors. [L 2000,c 244, pt of §1]