How to prepare legal forms (click here)

Board Of Directors' Resolution Authorizing Adoption Of Wage Continuation Plan

Pursuant to a duly made, seconded, and unanimously adopted motion, the Board of Directors of _____________________________ (hereinafter referred to as Corporation) adopts the following resolution:

WHEREAS the Compensation Committee of the Board of Directors recommends that the Corporation establish a wage continuation program under which employees who shall become sick, injured, or otherwise incapacitated due to medical reasons may continue to receive a designated portion of their wages, and

DUE to the Board of Directors conclusion that the establishment of such a program would enable said Corporation to attract and retain highly qualified, desirable employees, it is hereby:

RESOLVED that the Wage Continuation Plan recommended by the Compensation Committee be and hereby is approved, adopted, and accepted in its entirety by the Board of Directors of this Corporation effective for all claims made on or after ________________, 20 ____, and it is

FURTHER RESOLVED that a copy of said Wage Continuation Plan will be attached to the minutes of this meeting by the Secretary of said Corporation, and it is

FURTHER RESOLVED payments to all employees who qualify for such payments under the Plan herein adopted will be made by the Treasurer of said Corporation on a timely basis.

The undersigned, ________________________, 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 ________________, 20 ____, and that such resolution is now in full force and effect.

IN WITNESS THEREOF, I have affixed my name as Secretary of _________________ Corporation and have attached the seal of _____________________ Corporation to this resolution.

Dated:________________________ ___________________________

Secretary

Seal: