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Authorize Bonus Based On Profits
AUTHORIZE BONUS BASED ON PROFITS
RESOLVED, that there shall be paid as special compensation for the services rendered by [Service Provider] as [Job Description] of this Corporation, at ( [Percentage] %) percent of the net profits of this Corporation
during the year [Year] as evidenced by the books of the Corporation, but shall not exceed the sum of ($ [Amount] ) Dollars the said special compensation to be paid to [Person specified by Service Provider]
at the end of the fiscal year [Year], and
RESOLVED FURTHER, that for the purpose of fixing such compensation, net profits shall mean the amount available on net income after deductions for interest on indebtedness, expenses, all accrued taxes, and preferred dividends.
The undersigned hereby certifies that [he/she] is the duly elected and qualified Secretary and the custodian of the records and books and seal of the [Name of Corporation] corporation. The undersigned also certifies that this corporation has been duly formed in accordance with the laws of [State of Jurisdiction]. Furthermore, the undersigned certifies that the foregoing is a true record of a resolution duly adopted at a meeting of the Board of Directors, and that said meeting was held in accordance with the applicable laws and the Bylaws of the [Name of Corporation] Corporation on [Date of Meeting], and that said resolution is now in full force and effect without modification or rescission.
IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the [Name of Corporation] Corporation on [Date signed]
A True Record.
Attest.
Secretary