This excerpt taken from the NDAQ 8-K filed Aug 3, 2006.
Election of Principal Officers; Term of Office
Sec. 7.2 (a) The principal officers of the Corporation shall be elected annually by the Board at the annual meeting of the Board convened pursuant to Section 4.11(a). Failure to elect any principal officer annually shall not dissolve the Corporation.
(b) If the Board shall fail to fill any principal office at an annual meeting, or if any vacancy in any principal office shall occur, or if any principal office shall be newly created, such principal office may be filled at any regular or special meeting of the Board.
(c) Each principal officer shall hold office until a successor is duly elected and qualified, or until death, resignation, or removal.