BOARD RESOLUTION

DULY PASSED ON MM/DD/YYYY

APPROPRIATION OF RETAINED EARNINGS

WE, the undersigned directors of ______________ (the “Corporation”), a corporation duly

organized and existing under the laws of the Republic of the Philippines, with principal office at
_______________________________________, after having been duly sworn in accordance with
law, hereby depose and state that:

1. At the special meeting of the Board of Directors of said Corporation held on DATE, at its
principal office address, during which a quorum was present and acting throughout,
following resolutions were, upon motion duly made and seconded, unanimously approved
and adopted to wit:

“RESOLVED, that the Board of Directors of the Corporation authorize, as it hereby

authorizes, the appropriation of AMOUNT in WORDS (AMOUNT in NUMBERS), from
the Corporation’s retained earnings as of December 2015 for REASON of
APPROPRIATION;

“RESOLVED, that the Board of Directors of the Corporation authorize as it hereby

authorizes, the abovementioned project of REASON of APPROPRIATION and recognizes
all the abovementioned factors relevant thereto”

2. The foregoing resolutions have not been revoked, amended, or in any manner modified and,
accordingly, the same may be relied upon until a written notice to the contrary is issued by
the Corporation.”

Done this DATE in ________, Philippines

(Signature Page Follows)

 (NAME) (NAME)
Director Director
TIN: TIN:

(NAME) (NAME)
Director Corporate Secretary
TIN: TIN:

(NAME)
Chairman
TIN:

REPUBLIC OF THE PHILIPPINES )

_______________ ) S.S

SUBSCRIBED AND SWORN so before me this ____ day of _____ 2016 at _________
affiants exhibiting to me their TIN Nos.

(NAME) (TIN)
(NAME) (TIN)
(NAME) (TIN)
(NAME) (TIN)
(NAME) (TIN)

Doc No. ____

Page No. ____
Book No. ____
Series of 2016