DIY Legal Forms

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Salary Declared Unreasonable

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

RESOLVED, in the event of the disallowance of any portion of an officer's salary by the Australian Taxation Office as unreasonable in amount, the full amount disallowed by the Australian Taxation Office as unreasonable compensation shall be repaid to the Corporation by such officer or officers.

The undersigned, [Name], certifies that [Name] is the duly appointed Secretary of [Corporation] and that the above is a true, accurate, 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], 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: