RESOLUTION BY THE BOARD OF DIRECTORS OF XYZ, INC.
WHEREAS, the Board of Directors of XYZ, Inc., has determined that it is in the best
interests of the Corporation to secure a loan in the amount of Two Million Dollars
($2,000,000.00) from Acme National Bank, said bank being hereafter referred to as Lender;
WHEREAS, the proceeds from said loan shall be primarily used for renovations to, and
expansion of, the Clinton, Mississippi Plant;
WHEREAS, the terms of said loan shall be substantially in accordance with the
Commitment Agreement att