__________________________________________________

Address

Board Resolution Number 01, Series of 2019

WHEREAS, ______________________________ is a Corporation duly organized under

the laws of the Philippines with principal place of business at
______________________________

WHEREAS, ___________________________ has investments under the names of its

board members with beneficiaries who are also respectively board members in
there own right. As seen in Annex A of this Board Resolution.

WHEREAS, the all the member-owners and member-beneficiaries of the

investment policies are only holding such policies as a trustee of
_______________________________

WHEREAS, in a meeting dated ____________ held at

_______________________________________________________, all the members of the board
present in a unanimous decision, that upon maturity or withdrawal of the policy or
death of the member-owners, the member-beneficiaries and anyone who has a
claim on the policy shall return the principal and proceeds thereof to the
corporation.

NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED that:

1. All the members of the board recognize that they are mere trustees of the
Corporation as to investments pertaining to Annex A of this Board Resolution
and recognize that they do not own nor have an interest in such policy
whether as policy owner or beneficiary.

2. That upon demise of the board members, deemed as owner in the investment
policy, the board member who was designated as his/her beneficiary shall
return the principal and proceeds thereof to
________________________________________.

3. Or in the event that the policy shall be withdrawn upon maturity or

otherwise, the policy-owner, shall also return the principal and proceeds
thereof, if any to the corporation.
 CERTIFICATION

I, _______________, the duly elected Secretary of _______________ do hereby certify that the
Board of Directors in a meeting held on _______________, approved the foregoing
resolution in favor hereof.

____________________
Secretary

APPROVED:

____________________ ____________________ ____________________

Board of Director Board of Director Board of Director

____________________ ____________________
Board of Director Board of Director

ATTESTED BY:

____________________
President

SUBSCRIBED AND SWORN to me before this _______ day of _______________, 2019 at

___________________ affiant exhibiting to me his/ her ID _________________________ issued at
__________________________ on _____________.

Notary Public

Doc No ____
Book No___
Page No______
Series of 2019