BOARD OF DIRECTORS' RESOLUTION AUTHORIZING SPLIT-DOLLAR INSURANCE PLAN
Pursuant to a duly made, seconded, and unanimously adopted motion, the Board of Directors of _________________________________ (hereinafter referred to as Corporation) adopted the following resolution:
WHEREAS the Compensation Committee of the Board of Directors of said Corporation has made a written recommendation to the Board of Directors that the Corporation establish a split-dollar insurance program in an effort to attract and retain highly qualified, desirable employees, and the Board of Directors has subsequently
RESOLVED that the Split-Dollar Insurance Program recommended by the Compensation Committee be and hereby is approved, adopted, and accepted by the Board of Directors of said Corporation, and it is
FURTHER RESOLVED that the President of this Corporation will take all necessary actions to execute an agreement and bring into existence the Split-Dollar Insurance Program, a copy of which program is appended to the minutes of this meeting.
The undersigned, __________________________________, certifies that he or she is the duly appointed Secretary of ________________________ Corporation and that the above is a true and correct copy of a resolution duly adopted at a meeting of the directors thereof, convened and held in accordance with law and the Bylaws of said Corporation on _________________, 19____, and that the aforementioned resolution is now in full force and effect.
IN WITNESS THEREOF, I have affixed my name as Secretary of ____________________ Corporation and have attached the seal of ____________________ Corporation to this resolution.
Dated: ______________________
___________________________ Secretary
Seal: