Among other duties andﾛresponsibilities,ﾛthe Board of Directors is responsible for (i)ﾛoverseeing the selection, evaluation, development, and compensation of senior management; (ii) assessing major risks facing the Company and reviewing options to mitigate such risks; (iii) reviewing, approving, andﾛmonitoring signikcant knancial and business strategies and major corporate actions; and (iv)ﾛoverseeing the processes to maintain the utmost integrity andﾛproper management of theﾛCompany. Pursuant to Texas law, the Board of Directors is required to elect a President and a Secretary and may elect such other ogcers as the Board of Directors deems appropriate, which currently include, among others, the Company's Chief Executive Ogcer (CEO).