BOARD OF DIRECTORS' RESOLUTION SETTING CHRISTMAS BONUS FOR EMPLOYEES
Resulting from a duly made, seconded, and unanimously adopted motion, the Board of Directors of this Corporation _____________________ Corporation (hereinafter referred to as Corporation) hereby adopted the following resolution:
WHEREAS the Compensation Committee appointed by this Board of Directors has presented the Board with its recommendations, a copy of which is attached to the minutes, of this meeting, a recommendation regarding the Board's inquiry concerning the possibility of providing the employees of this Corporation with provision of additional compensation in the form of a Christmas Holiday cash bonus for the employees of this Corporation, it is hereby:
RESOLVED that the recommendation of the Compensation Committee in its report dated _______________, 19_____, a copy of which the Secretary of the Corporation is directed to attach to the minutes of this meeting, be and hereby is adopted, and the Treasurer of this Corporation is hereby directed to pay a cash Christmas Holiday bonus to employees of this Corporation on the ______ day of _______________, 19____, on the basis of. Such cash bonus will be issued according to the following formula:
1. Every employee who has been in the Corporation's employ of said Corporation for less than ____ months shall receive a cash bonus equal to his or her ordinary salary for ____ week(s);
2. Every employee who has been in the Corporation's employ of said Corporation for longer than ____ months and less than ____ months shall receive a cash bonus equal to his or her ordinary salary for ___ weeks;
3. Every employee who has been in the employ of said Corporation for longer than ____ months shall receive a cash bonus equal to his or her ordinary salary for ____ weeks.
The undersigned, ______________________, certifies that I am the duly appointed Secretary of ______________________ Corporation and that the above is a true, accurate, 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 such resolution is now in full force and effect.
IN WITNESS THEREOF, I have hereafter affixed my name as Secretary of ________________ Corporation and have attached the seal of _____________________ Corporation to this resolution.
Dated: ______________________
___________________________ Secretary
Seal: