Common use of Authority of Committees Clause in Contracts

Authority of Committees. Subject to the Shareholders Agreement including but not limited to Section 3.1 through 3.5 thereof, to the extent specified by the Board, each committee may exercise the authority of the Board, except that a committee may not (i) approve or adopt, or recommend to the stockholders, any action or matter (other than the election or removal of a director) expressly required under law to be submitted to stockholders for approval or (ii) adopt, amend or repeal any bylaw of the company.