BOARD OF DIRECTORS' RESOLUTION FOR SETTING ASIDE SHARES OF STOCK FOR A STOCK OPTION PLAN
Upon a duly made, seconded and unanimously adopted motion, the directors of this Corporation adopted the following resolution: WHEREAS, the Shareholders of this Corporation have adopted a resolution, a copy of which is attached to the minutes of this meeting, authorizing the establishment of a Stock Option Plan, and WHEREAS the resolution of the Shareholders establishing the aforementioned Stock Option Plan also requires that the Board of Directors set aside enough shares of the common stock of this corporation to satisfy the exercise of options under the Plan, it is hereby: RESOLVED, that this Corporation shall set aside [N] shares of its common stock for the sole purpose of satisfying the exercise of options under the Stock Option Plan. 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