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Board Of Directors' Resolution For Setting Aside Shares Of Stock For Stock Option Plan
BOARD OF DIRECTORS' RESOLUTION FOR SETTING
ASIDE SHARES OF STOCK FOR A STOCK OPTION PLAN
Pursuant to a duly made, seconded, and unanimously adopted motion, the Directors of [Name of Corporation], hereinafter referred to as Corporation", adopted the following resolution:
WHEREAS a resolution authorizing the establishment of a Stock Option Plan has been adopted by the shareholders of this Corporation, and
WHEREAS the Board of Directors are required to set aside sufficient shares of the common stock of this Corporation to satisfy the exercise of options under the Stock Option Plan according to said resolution of the shareholders, it is hereby:
RESOLVED that this Corporation shall set aside shares of its common stock for the sole purpose of satisfying the exercise of options under the Stock Option Plan.
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