Fill and Sign the Resolution Directors Form

Resolution of Directors of a Close Corporation Authorizing Redemption of Stock Pursuant to call and notice as required by the Bylaws of ___________________ _____________________ (name of corporation) and the laws of the State of ___________________ (name of state) , a special meeting of the Directors of _________________________________________ (name of corporation) was held on the _________________ (date) . Present at this Meeting in person or by proxy were the following Shareholders: ______________________________________________________________________ ______________________________________________________________________ ________________________________________________ (names of shareholders) . The Meeting was called to order by the President _______________________ (Name of President) . _______________________ (Name of President) announce that the first order of business was consideration of the purchase out of the surplus of the Corporation not in excess of _______ (number) shares of the common stock of the corporation, now offered for sale to the Corporation by _________________________ (name of holder of stock) . On motion duly made and seconded, the following Resolution was unanimously passed: Whereas, it is in the best interests of the Corporation that it purchase out of its surplus not in excess of ________ (number) shares of the common stock of the Corporation, now offered for sale to this Corporation by _________________________ (name of holder of stock) , and that immediately following the purchase of such shares, they be retired; and Whereas, such purchase and retirement is authorized by the Corporation's Bylaws and A rticles of Incorporation; Now, therefore, it is hereby resolved: 1. That the executive officers of Corporation be, and they now are, empowered and directed to purchase out of the surplus of the Corporation from ____________________ (name of holder of stock) , not in excess of _________ (number) shares of common stock of the Corporation at $____________ per share, plus an amount equal to accrued dividends to date of payment, and that payment for the shares so purchased be made in cash. 2. It is further resolved, that immediately following such purchase, such shares be retired by the Corporation pursuant to this Resolution without further action by the Board of Directors, it being the intention of the Board that this Resolution shall not only authorize the purchase of the shares, but shall also effect the retirement of such shares as shall be purchased pursuant to this Resolution. 3. That the officers of the Corporation be, and they now are, authorized to take all steps required by law as a result of the retirement effected by this Resolution; There being no further business to come before the meeting, it was adjourned. IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the above-named Corporation this ______ day of _____________, 20 _____. _______________________________ (Printed Name of Secretary) ______________________________ (Signature of Secretary) (SEAL)