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Board Of Directors' Resolution For Officers' Bonus To Be Paid In Stock
BOARD OF DIRECTORS' RESOLUTION FOR OFFICERS' BONUS TO BE PAID IN STOCK
Pursuant to a duly made, seconded, and unanimously adopted motion, the Board of Directors of [Name of Corporation], hereinafter referred to as Corporation", adopted the following resolution:
WHEREAS the Compensation Committee appointed by this Board of Directors has presented the Board with its recommendations, a copy of which is attached to the minutes of this meeting, regarding the Board's inquiry concerning the possibility of providing the officers of this Corporation with additional compensation for the officers of said Corporation in the form of a stock bonus, and presented the Board with its recommendations regarding this topic, it is hereby:
RESOLVED that the recommendation of the Compensation Committee in its report dated [Date of report], a copy of which the Secretary of the Corporation is directed to attach to the minutes of this meeting, and is hereby adopted. The Treasurer of this Corporation is hereby furthermore directed to issue shares of common stock to the following officers the number of shares of common stock set out according to amounts specified in writing after their names:
Officer Number of Shares
[Officer 1] [Shares 1]
[Officer 2] [Shares 2]
[Officer 3] [Shares 3]
The undersigned, [Secretary of Corporation], certifies that he or she is the duly appointed Secretary of 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 of resolution], and that such resolution is now in full force and effect.
IN WITNESS THEREOF, I have affixed my name as Secretary of [Name of Corporation] Corporation and have attached the seal of [Name of Corporation] Corporation to this resolution.
Dated: [Date signed]
Secretary