Board Resolution to Settle Litigation

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION TO SETTLE LITIGATION

**DATE:** {{date}}

**WHEREAS,** the Company, {{company_name}}, is involved in a legal dispute with {{opposing_party_name}} concerning {{brief_description_of_dispute}} (the "Litigation");

**WHEREAS,** the Board of Directors has been fully apprised of the status and potential outcomes of the Litigation, including legal advice received from {{law_firm_name}};

**WHEREAS,** after careful consideration and based on the recommendation of legal counsel, it has been determined that settling the Litigation is in the best interests of the Company and its shareholders to avoid further legal costs, uncertainties, and potential adverse judgments.

**NOW, THEREFORE, BE IT RESOLVED,** that the Company shall enter into a settlement agreement with {{opposing_party_name}} to resolve the Litigation.

SETTLEMENT TERMS

**RESOLVED,** that the settlement terms shall include, but not be limited to:

a. A payment by the Company to {{opposing_party_name}} in the amount of {{settlement_amount}} {{currency}}.

b. A mutual release of all claims arising from or related to the Litigation between the Company and {{opposing_party_name}}.

c. Confidentiality provisions, as further detailed in the settlement agreement.

d. The discontinuance of all legal proceedings related to the Litigation with prejudice.

AUTHORISATION OF OFFICERS

**RESOLVED,** that the Chief Executive Officer, {{ceo_name}}, and/or the Company Secretary, {{secretary_name}}, be, and hereby are, authorized, empowered, and directed to execute and deliver any and all documents, agreements, and instruments, including but not limited to, the formal settlement agreement, and to take all necessary actions to implement the terms of this resolution and to finalize the settlement of the Litigation.

INDEMNIFICATION

**RESOLVED,** that any actions taken by the officers of the Company in furtherance of this resolution prior to the date hereof are hereby ratified, confirmed, and approved.

CERTIFICATION

The undersigned, being the duly appointed Secretary of {{company_name}}, does hereby certify that the foregoing is a true and accurate copy of a resolution duly adopted by the Board of Directors of the Company at a meeting held on {{date_of_meeting}}, at which a quorum was present and voting throughout, and that such resolution is in full force and effect as of the date hereof.

SIGNATURES

_____________________________

{{secretary_name}}

Company Secretary

{{company_name}}

Date: {{date}}