ARTICLE IV COMMITTEES

Section 1. Executive Committee. The Board may initially appoint an Executive Committee to serve during the interim until the next ensuing annual meeting of the Board and, thereafter, the Executive Committee shall be elected annually at the annual meeting of the Board. The Executive Co mmittee shall consist of the President of the Corporation, and not less than two nor more than four additional Directors as may be fixed from time to time by the Board. The additional Directors shall be ch osen by a plurality of the votes cast. Vacancies in Members of the Committee may be filled by the Board at any meeting, but only from among the Board of Directors. Any Member of the Executive Committee may be removed from membership on said Committee at any time with or without cause by a vote of the majority of the Board at any meeting of the Board.

The Committee shall, during the intervals between meetings of the Board, possess and exercise all the powers of the Board in the management of the affairs a nd property of the Corporation except as otherwise provided by law, the Bylaws, or by resolution of the Board. The presence of a majority of the members of the Committee shall be necessary and sufficient to constitute a quorum and the act of a majority of the members shall be the act of the Committee. The Committee shall keep full and fair records and accounts of its proceedings and transactions. All actions by the Committee shall be reported to the Board at its next meeting succeeding such action and sh all be subject to revision and alteration by the Board, provided that no rights of third persons shall be affected by any revision or alteration.

Section 2. Miscellaneous Committees. The Board or Executive Committee may from time to time by resolution, constitute such other committees of Directors with such functions, powers, and duties as the Board or Executive Committee shall provide. Otherwise each such committee shall enact rules and regulations for its own government.

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