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Adopt A Severance Benefit Plan
WHEREAS, the Board of Directors of this Corporation deems it to be in the best interests of the Corporation and certain key employees to increase their pension contribution limit by establishing a Severance Benefit Plan under Section 419 (A) of the Internal Revenue Code; be it
RESOLVED, that the Corporation adopt a Severance Benefit Plan under Section 419 (A), all as set forth on the proposed plan as annexed; and, be it
RESOLVED FURTHER, that the President and/or Treasurer of the Corporation undertake all actions deemed necessary to implement and administer said plan.
The undersigned hereby certifies that [Name] is the duly elected and qualified Secretary and the custodian of the books and records and seal of [Name], a corporation duly formed pursuant to the laws of the State of [State], and that the foregoing is a true record of a resolution duly adopted at a meeting of the Board of Directors, and that said meeting was held in accordance with state law and the Bylaws of the above-named Corporation on [Date], and that said resolution is now in full force and effect without modification or rescission.
IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the above named Corporation on [Date].
A True Record.