DIY Legal Forms

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Setting Aside Shares Of Stock For A Stock Option Plan

Pursuant to a duly made, seconded, and unanimously adopted motion, the Directors of [Name] (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, [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: