The Village President shall appoint the members, subject to approval of the Village Council by majority vote. All appointed members of the Commission may be compensated at a rate to be determined by the appointing or legislative body. An appointed member shall not hold another municipal office, except that one appointed member may be a member of the Zoning Board of Adjustment or Appeals. The term of the ex officio member shall be determined by the Village Council and shall be stated in the resolution selecting the ex officio member, but the term shall not exceed the member's term of office as a member of the legislative body. The term of each appointed member shall be three years or until his or her successor takes office, except that the respective terms of two of the members first appointed shall be for one year and three for two years. After a public hearing, a member other than the member selected by the Village Council may be removed by the President for inefficiency, neglect of duty, or malfeasance in office. The Village Council body may for like cause remove the member selected by the Village Council body. All ex officio members appointed under this subsection shall have full voting rights.