Common use of Appointment of Committees Clause in Contracts

Appointment of Committees. 11.1.1 There are hereby created an Administrative Committee and an Investment Committee, each of which shall consist of not less than three members to be appointed by the Board of Directors of the Company. Each member of a Committee may resign, or may be removed at any time by the Board of Directors of the Company (with or without cause), and, in the event of the removal, death or resignation of any member, his successor shall be appointed by such Board. In the event that a vacancy or vacancies shall occur on a Committee, the remaining member or members shall act as the Committee until the Board of Directors of the Company fills such vacancy or vacancies. The members of each Committee shall serve without compensation for their services as such members. 11.1.2 No person shall be ineligible to be a member of a Committee because he is, was or may become entitled to benefits under the Plan or because he is a director and/or officer of an Employer or Affiliate; provided, that no member of a Committee shall participate in any determination by the Committee relating specifically to his own benefits under the Plan. 11.1.3 The members of each Committee shall serve without bond except to the extent required by applicable law.

Appointment of Committees. 11.1.1 There are hereby created an Administrative Committee and an Investment Committee, each of which shall consist of not less than three two members to be appointed by the Board of Directors of the Company. Each member of a Committee may resign, or may be removed at any time by the Board of Directors of the Company (with or without cause), and, in the event of the removal, death or resignation of any member, his successor shall be appointed by such Board. In the event that a vacancy or vacancies shall occur on a Committee, the remaining member or members shall act as the Committee until the Board of Directors of the Company fills such vacancy or vacancies. The members of each Committee shall serve without compensation for their services as such members. 11.1.2 No person shall be ineligible to be a member of a Committee because he is, was or may become entitled to benefits under the Plan or because he is a director and/or officer of an Employer or Affiliate; provided, that no member of a Committee shall participate in any determination by the Committee relating specifically to his own benefits under the Plan. 11.1.3 The members of each Committee shall serve without bond except to the extent required by applicable law.