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a majority of the Trustees present may act to continue the meeting <br />to any time and date specified in such action. Each Trustee shall <br />be entitled to one vote at any meeting of the Board. No vote by <br />proxy shall be permitted. The affirmative vote of not less than <br />four Trustees shall be required for any action of the Board. <br />SECTION 3.05. CONFLICTS OF INTEREST. No Trustee shall vote <br />on any matter which inures to his or her special private gain, or <br />the special gain of any principal, other than a Participant, by <br />whom he or she is retained. Such Trustee shall, prior to a vote <br />being taken, disclose the nature of his or her interest in the <br />matter from which he or she is abstaining from voting. <br />SECTION 3.06. BOORS AND RECORDS. The books and records <br />pertaining to the Trust shall be "public records" within the <br />meaning of Section 119.01(1), Florida Statutes, and any <br />subsequently enacted statute defining the term "public records." <br />The Trustees hereby individually and collectively agree to comply <br />with all provisions of law applicable to "public records." <br />SECTION 3.07. OFFICERS OF THE BOARD. Officers of the Board <br />required by this Agreement shall be elected at the annual meeting <br />held in accordance with Section 3.03(A) of this Agreement. In <br />addition, the Board may elect such other officers from their number <br />as it deems advisable. Notwithstanding their stated terms, all <br />officers shall serve at the pleasure of the Board. <br />(A) The Board shall elect a Chairman from their number, who <br />shall serve for a period of one year, or until a successor shall <br />have been duly elected and qualified, whichever is later and may <br />be elected to an unlimited number of consecutive terms. The <br />Chairman shall be the chief executive officer of the Trust, shall <br />preside at all meetings of the Board, shall have general <br />supervision over the affairs of the Trust and over the other <br />officers, and shall perform all such other acts and duties as are <br />incident to the Chairman's responsibilities as chief executive <br />officer. <br />(B) The Board shall elect a Vice -Chairman from their number, <br />who shall serve for a period of one year, or until a successor <br />shall have been duly elected and qualified, whichever is later and <br />may be elected to an unlimited number of consecutive terms. In <br />case of the absence or disability of the Chairman, the Chairman's <br />duties shall be performed by the Vice -Chairman. The Vice -Chairman <br />shall perform such additional duties as are authorized by the <br />Board. <br />(C) The Board shall elect a Secretary from their number, who <br />shall serve for a period of one year, or until a successor shall <br />have been duly elected and qualified, whichever is later and may <br />be elected to an unlimited number of consecutive terms. The <br />Secretary shall record and circulate the minutes of all meetings, <br />11 <br />