BOARD OF DIRECTORS' RESOLUTION SETTING OFFICERS' BONUS AT A STATED AMOUNT
Upon a duly made, seconded and unanimously carried motion, the Board of Directors of this Corporation adopted the following resolution: WHEREAS, the Compensation Committee of the Board of Directors has submitted its recommendations with respect to year-end bonuses to be paid to the officers of this Corporation, and WHEREAS, the operations of the Corporation have exceeded the best expectations projected by the Board of Directors at the beginning of this fiscal year, it is hereby: RESOLVED, that the Board of Directors do and hereby does adopt the recommendations of the Compensation Committee contained in its report to the Board dated [DATE], a copy of which is attached to the minutes of this meeting, and accordingly pay year-end bonuses to the following officers in the amounts set out after their names: Officer _______________________________ _______________________________ _______________________________ _______________________________ Amount ________________ ________________ ________________ ________________
And it is FURTHER RESOLVED, that the Treasurer is hereby directed to make the above-described bonus payments to the officers listed above on [DATE]. The undersigned, [N], certifies that I am the duly appointed Secretary of [COMPANY NAME] 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 [DATE], and that such resolution is now in full force and effect. IN WITNESS THEREOF, I have affixed my name as Secretary of [COMPANY NAME] Corporation.
Dated: [DATE]
____________________ Secretary