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This document should be used by the shareholders of a
corporation when approving a stock option plan.
The following text of this document should be reviewed and
edited to fit your purposes.
[Find, then fill-in, or delete text in brackets like this: “[NNN]”
If there are dates in this document, they will automatically change to today’s date.
For additional assistance mailto:LegalHelp@TheSmallBusinessOwnersManual.com or
Otherwise the following text should be reviewed and edited as needed:
FOR APPROVAL OF STOCK OPTION PLAN
Upon a duly made, seconded and unanimously adopted motion, the shareholders of this
Corporation adopted the following resolution:
WHEREAS, the Board of Directors of this Corporation has adopted a resolution
authorizing the establishment of a Stock Option Plan, and
WHEREAS, the resolution of the Board of Directors establishing the
aforementioned Stock Option Plan also requires the Corporation to have available
shares of stock to satisfy the exercise of options under the Plan, it is hereby:
RESOLVED, that the Stock Option Plan approved by the Board of
Directors in its resolution dated [DATE], a copy of which the Secretary of
the Corporation is directed to attach to the minutes of this meeting, be and
hereby is adopted; and it is
FURTHER RESOLVED, that the Treasurer is hereby authorized to set
aside in the Corporation's Treasury, as recommended by the Board of
Directors in its aforesaid resolution, [N] shares of the common stock of
this [COMPANY NAME] Corporation for sale to individuals entitled to
exercise an option to purchase such shares 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 shareholders 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]