Board of Director’s Resolution

Resolution No.: [ ]

The following resolutions were passed at the meeting of the Board of Directors
of [NAME OF THE CORPORATION], (herein referred to as “the Corporation”)
on [Date] [Address].

WHEREAS, it is deemed desirable and in the best interests of the Corporation

that the following actions be taken by the Board of Directors of this corporation
pursuant to this Resolution:

RESOLVED, THAT portion for of the Retained Earnings as of [period]

amounting to [Amount in Words] (Php XXX,XXX) have been appropriated
[reason for appropriation].

RESOLVED FURTHER, that the officers of the Corporation are, and each
acting alone is, hereby authorized and directed to take such further
actions as may be necessary, appropriate or advisable to implement this
resolution.

The undersigned, [Name of the Corporate Secretary], certifies that she is

the duly appointed/elected Secretary of this Corporation, and that the above is a
true and correct copy of the resolution that was duly adopted at a meeting of
the Board of Directors, which was held in accordance with the By-laws of the
Corporation.

NAME NAME
Position Position

NAME NAME
Position Position

NAME
Position