BOARD OF DIRECTORS' RESOLUTION STATING CORPORATION'S DIVIDEND POLICY
Upon a duly made and seconded motion, the Board of Directors of [COMPANY NAME] unanimously adopted the following resolution: RESOLVED, that it is this Corporation's dividend policy to pay a dividend of [N] Dollars ($[N]) per annum on the common stock of the Corporation, payable in quarterly installments on [DATE], [DATE], [DATE], and [DATE] if (a) the earnings of the Corporation support such payments under the laws of the State of [STATE] and (b) the Board of Directors determines that the payment of such dividends is in the best interests of the Corporation. 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