MINUTES OF THE SPECIAL MEETING

OF THE STOCKHOLDERS OF
(COMPANY NAME)
Held on (MM/DD/YYYY)
at (TIME)
(PLACE OF MEETING)

Present: Mr. Chairman of the Board Also Present: Mr. Corporate Secretary
Mr. Board Member 1
Mr. Board Member 2
Mr. Board Member 3

Absent:

PROCEEDINGS OF THE MEETING

I. CALL TO ORDER

The acting Chairman, Mr. Chairman of the Board called the meeting to order
and presided over the same.

The Corporate Secretary, Mr. Corporate Secretary, records the minutes of the
meeting.

II. CERTIFICATION OF QUORUM

The Corporate Secretary certified that a majority of the members of the Board
of Directors were in attendance hence, there was a quorum for the valid transaction
of business by the Board.

III. SETTLEMENT OF ADVANCES FROM

STOCKHOLDERS/AFFILIATES

The Chairperson of the meeting informed the Board that the Company plan to
settle the balance of advances from stockholders/affiliates amounting to
Php_________ which to be amortized within the next (TERMS) years commencing
on the following year of December 31, YYYY. Upon motion duly made and seconded,
the above was resolved through below resolutions:

“RESOLVED, AS IT HEREBY RESOLVED, that the Board

approved the plan of the Company to settle the advances from
stockholders/afilliates to be amortized with the next (TERMS) years
commencing on the following year December 31, YYYY, amounting to
Php__________ for year 1, Php__________ for year 2 or with
equal annual installment amounted to Php__________.

IV. ADJOURNMENT

There being no further business to transact, the meeting was thereupon

adjourned.
 CERTIFIED TRUE AND CORRECT:

Mr. Chairman of the Board Mr. Board Member 1

Acting Chairman and Director Director

Mr. Board Member 2 Mr. Board Member 3

Director Director

Mr. Corporate Secretary

Corporate Secretary