Board Resolution Adopting the Realigned [20XX-XX] Budget

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION ADOPTING THE REALIGNED [20XX-XX] BUDGET

Date: {{date}}

A meeting of the Board of Directors of {{company_name}} (the “Company”) was held on {{meeting_date}}, at {{meeting_time}}, at {{meeting_location}}.

Present at the meeting were: {{list_of_directors_present}}

In attendance by invitation were: {{list_of_attendees_by_invitation}}

WHEREAS CLAUSES

WHEREAS, the Company’s initial budget for the financial year {{financial_year_start}} - {{financial_year_end}} was approved on {{initial_budget_approval_date}};

WHEREAS, due to unforeseen circumstances/changes in market conditions/strategic pivots [choose applicable reason(s)], an adjustment to the approved budget is necessary to ensure the Company’s continued financial stability and achievement of its strategic objectives;

WHEREAS, the management team has prepared a realigned budget ([20XX-XX] Realignment Budget) reflecting these necessary adjustments, which has been reviewed by the Finance Committee and circulated to all Board members prior to this meeting.

RESOLUTION

BE IT RESOLVED, that the Board of Directors hereby formally approves and adopts the realigned budget for the financial year {{financial_year_start}} - {{financial_year_end}}, as presented and discussed at this meeting, attached hereto as Appendix A, with immediate effect.

BE IT FURTHER RESOLVED, that the Chief Executive Officer and/or the Chief Financial Officer are hereby authorised to take all necessary actions to implement the realigned budget and to make necessary adjustments to financial systems and operational plans in accordance with this resolution.

BE IT FURTHER RESOLVED, that the management report regularly to the Board on the Company’s performance against the realigned budget, highlighting any significant variances and proposing corrective actions as required.

CERTIFICATION

The undersigned, being the 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 convened and held on the date first above written, at which a quorum was present and acted throughout and that such resolution is in full force and effect.

SIGNATURES

_____________________________

{{secretary_name}}

Company Secretary

Date: {{signature_date}}

_____________________________

{{chairman_name}}

Chairman of the Board

Date: {{signature_date}}