MINUTES OF DIRECTOR’S ANNUAL MEETING
The Board of Directors of ______________________________ held a regular meeting at the following time, date and place:
Time: _______________________ Date: _______________________ Place: ______________________________________________________________.
The following individuals, constituting the entire membership of the Board of Directors, were present at the meeting:
_______________________________ _______________________________
___________________________ ___________________________
______________________________, the Corporation's President, chaired the meeting, and ___________________________________, the Corporation's Secretary, served as Secretary of the Meeting. The Secretary read a waiver of notice of the meeting that was signed by all of the directors and was directed to attach the waiver of notice to the minutes of the meeting. The Chairperson announced that a quorum of the directors was present and that the meeting could proceed with business. The Secretary distributed copies of the minutes of the previous regular meeting of the directors that had been held on _____________________, and upon a duly made and seconded motion, the minutes of the aforesaid previous regular meeting were approved.
Next, the Board heard the report of ___________________ the Corporation's Treasurer, which included the report of ____________________, the Corporation's accountant, and was advised that as of the close of business on the ___________________, the Corporation had net profits of ________________ dollars ( $______ ). It was then RESOLVED, that a dividend of ____________________ (________) cents per share is hereby declared on the outstanding common stock of this Corporation, the
said dividend to be payable to shareholders of record at the close of business on the ____________ day of _______________, and shall be paid on the _____________ day of _________________, and it is FURTHER RESOLVED, that the Secretary is hereby directed to notify the shareholders that the dividend has been declared, and the Treasurer is hereby directed to pay the said dividend on the date specified above.
Next, the Board considered the re-appointment of ___________________ as President of the Corporation. ________________________ thereupon excused himself from the meeting and _________________________ replaced him as the Acting Chairperson. Upon a motion duly made and seconded and unanimously carried, it was RESOLVED, that the salary of the President of the Corporation is to be __________________ dollars ( $_______ ) per year, and that the term for which his employment shall continue under this resolution shall be one year.
Next, upon the conclusion of the vote on the above-described resolution, the President returned to the room and resumed the office of Chairperson of the meeting.
Next, the Board considered a proposed agreement for the supply of ________________ to the Corporation that had been negotiated by the President, and it was RESOLVED, that the Corporation should accept the proposed agreement, dated ______________, a copy of which is attached to the minutes of this meeting, and by this resolution directs the President to execute the aforesaid agreement. As no other business was before the meeting, a duly made and seconded motion to adjourn was carried.
______________________________ Chairperson Date __________________________
_________________________________ Secretary