Common use of Delegation of Powers Clause in Contracts

Delegation of Powers. 1. The Board of Directors may appoint, from among its number, an Executive Committee and one or more Chief Executive Officers, determining the persons who should hold such posts and how they should act. It may delegate to them all its powers that are not non-delegable in Law, in that foreseen in these By-laws and in the Board Regulations.

Delegation of Powers. 1. The Board of Directors may appoint, from among its number, an Executive Committee and one or more Chief Executive Officers, determining the persons who should hold such posts and how they should act. It may delegate to them all its powers that are not non-delegable in Lawlaw. The Board of Directors will likewise appoint from among its number an Appointments and Remuneration Committee, in that foreseen in these By-laws composed of a minimum of three and in the Board Regulationsa maximum of five members, and may create other Committees composed of directors with such functions as are deemed appropriate.