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Board Of Directors' Resolution Salary Declared Unreasonable
BOARD OF DIRECTORS' RESOLUTION - SALARY DECLARED UNREASONABLE
Pursuant to a duly made and seconded motion, the Board of Directors of [Name of Corporation], hereinafter referred to as "Corporation", unanimously adopted the following resolution:
RESOLVED, in the event of the disallowance of any portion of an officer's salary by the Internal Revenue Service of the Department of the Treasury of the United States as unreasonable in amount, the full amount disallowed by the Internal Revenue Service as unreasonable compensation shall be repaid to the Corporation by such officer or officers.
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