Board Resolution to Settle Litigation

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Board Resolution to Settle Litigation

Board Resolution to Settle Litigation

BOARD RESOLUTION TO SETTLE LITIGATION

A meeting of the Board of Directors of {{company_name}} (the "Company") was duly convened and held at {{meeting_location}} on {{date_of_meeting}} at {{time_of_meeting}}.

WHEREAS

The Company is currently involved in legal proceedings, particulars of which are case name: {{case_name}}, case number: {{case_number}}, in the {{court_name}} (the "Litigation").

The Board has been advised of the current status of the Litigation and the proposed terms of a settlement agreement (the "Settlement Agreement").

The Board considers it to be in the best interests of the Company and its shareholders to resolve the Litigation through settlement.

RESOLVED, THAT

The Company hereby approves and authorises the settlement of the Litigation on the terms and conditions outlined in the draft Settlement Agreement presented to and reviewed by the Board.

Any Director or authorised officer of the Company, including but not limited to {{authorised_officer_name}} in their capacity as {{authorised_officer_title}}, be and is hereby authorised, empowered, and directed to execute, deliver, and perform all acts, documents, and agreements necessary to effectuate the terms of the Settlement Agreement.

The specific financial terms for the settlement, including any payment of {{settlement_amount}} to be made by/to the Company, are hereby approved.

All actions previously taken by any officer or director of the Company in connection with the Litigation and the proposed settlement are hereby ratified, confirmed, and approved.

CERTIFICATION

I, {{secretary_name}}, being the duly appointed Secretary of {{company_name}}, do hereby certify that the above is a true and correct copy of a resolution duly adopted by the Board of Directors of the Company on {{date_of_resolution}} and that such resolution is in full force and effect and has not been revoked or amended.

Signature Block

__________________________

{{director_name}}

Director

Date: {{date}}

__________________________

{{secretary_name}}

Company Secretary

Date: {{date}}