EXECUTIVE COMMITTEES

An "Executive Committee" is a committee composed entirely of directors (with a minimum of 2 directors). 

The committee is appointed by the board at a meeting with a majority of directors present and voting. The board may delegate authority to the committee to act on the board's behalf on matters such as:

• setting the compensation of a manager

• filling a vacancy on the board

• the appointment of committees

• litigation matters

The committee serves at the discretion of the board Corp. Code §7212.

Updated by ADAMS KESSLER 10/30/2007