PUBLIC LAW 103-272—JULY 5, 1994 108 STAT. 907 (E) 2 individuals selected by the holders of the preferred stock of Amtrak. (2) An individual appointed under paragraph (1)(C) of this subsection serves for 4 years or until the individual's successor is appointed and qualified. Not more than 2 individuals appointed under paragraph (1)(C) may be members of the same political party. (3) An individual selected under paragraph (1)(D) of this subsection serves for 2 years or until the individual's successor is selected. (4) An individual selected under paragraph (1)(E) of this subsection serves for one year or until the individual's successor is selected. (5) The President of Amtrak serves as Chairman of the board. (6) The Secretary may be represented at a meeting of the board only by the Deputy Secretary of Transportation, the Administrator of the Federal Railroad Administration, or the General Counsel of the Department of Transportation. (b) CUMULATIVE VOTING. — The articles of incorporation of Amtrak shall provide for cumulative voting for all stockholders. (c) CONFLICTS OF INTEREST. —When serving on the board, a director appointed by the President of the United States may not have— (1) a financial or employment relationship with a rail carrier; and (2) a significant financial relationship or an employment relationship with a person competing with Amtrak in providing passenger transportation. (d) PAY AND EXPENSES. — Each director not employed by the United States Government is entitled to $300 a day when performing board duties and powers. Each director is entitled to reimbursement for necessary travel, reasonable secretarial and professional staff support, and subsistence expenses incurred in attending board meetings. (e) VACANCIES.—^A vacancy on the board is filled in the same way as the original selection, except that an individual appointed by the President of the United States under subsection (a)(1)(C) of this section to fill a vacancy occurring before the end of the term for which the predecessor of that individual was appointed is appointed for the remainder of that term. A vacancy required to be filled by appointment under subsection (a)(1)(C) must be filled not later than 120 days after the vacancy occurs. (f) BYLAWS.—The board may adopt and amend bylaws governing the operation of Amtrak. The bylaws shall be consistent with this part and the articles of incorporation. §24303. Officers (a) APPOINTMENT AND TERMS.— Amtrak has a President and other officers that are named and appointed by the board of directors of Amtrak. An officer of Amtrak must be a citizen of the United States. Officers of Amtrak serve at the pleasure of the board. (b) PAY.—The board mayfixthe pay of the officers of Amtrak. An officer may not be paid more than the general level of pay for officers of rail carriers with comparable responsibility. (c) CONFLICTS OF INTEREST. —When employed by Amtrak, an officer may not have a financial or employment relationship with
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