BNFCF Board Meeting March 27, 2017

the Member’s status as a Piper shall terminate. A Member whose membership has terminated due to non-payment of delinquent dues may at any time be reinstated upon payment in full of all accumulated delinquent membership dues. 4. Voting Rights. The voting rights of members shall be limited to the election of Directors, and such other matters as the Board of Directors may determine to be appropriate for a vote of the membership. 5. Annual Meeting. The regular annual meeting of the members shall be held concurrently withon a date within sixty days following the regularCorporation’s annual meeting ofprimary fund-raising event, The Nichols Cup, as specified by the Board of Directors each year . ARTICLE V BOARD OF DIRECTORS 1. General. The affairs of the Corporation shall be managed by a Board of Directors, each of whom shall be of legal age, and need not be a resident of the State of Florida. 2. Number. The number of directors shall be nine. All directors shall serve until their terms shall expire or until their successors are elected or appointed. All directors shall have equal or full voting responsibilities as members of the Board of Directorssixteen. The terms of all newly elected directors shall correspond to the staggered three (3) year terms as set out in the Bylaws. Any director newly elected to an unexpired term or to a “stub” term shall be eligible to be nominated or elected to serve one or more terms consecutively, without any limitations . 3. Appointments and Election. The procedure for appointments and elections to the Board of Directors will be as follows: (a) Elections. Before each regular annual meeting in which an election is due to be held pursuant to these Bylaws, the President will appoint a nominating committee consisting of three or more members of the Board. Each nominating committee will make nominations for individuals to fill the vacancy or vacancies which will occur at the following regular annual meeting. The members shall be given a list of the nominees at least ten (10) days prior to the regular annual meeting at which time the election will be held. Each member will be entitled to one vote for each vacancy and the results will be determined by the majority of the votes cast. (b) Term and Succession. Elected Directors shall serve three-year staggered terms. The initial Board of Directors shall serve until the annual meeting of the members to be held in April, 2005. At the April 2005 annual membership meeting, there shall be an election by ballot for all nine current Directors, three of whom shall be elected for a term of three years (Class A Directors), three of whom shall be elected for a term of two years (Class B Directors) and three of whom shall be elected for a term of one year (Class C Directors). Then, upon expiration of the term of each class of Directors, the new Directors shall be elected for a three - year term. No memberMembers of the Board of Directors may be nominated or elected to serve one or more than two three-year terms consecutively , without any limitations . (c) The Nichols Family Seat. A single seat on the Board of Directors shall be a designated Bobby Nichols Family board seat,"The Nichols Family Seat." This seat shall have full voting privileges and the designated Nichols holder shall have equal rights to all other Directors, including the right to serve as an officer of the Corporation. The Nichols Family Seat director shall be elected by the Board of Directors for such term as determined by the Board of Directors from time to time, and shall be a direct family member of

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