Board Resolution Fixing the President's Salary

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Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Board Resolution Fixing the President's Salary

Board Resolution Fixing the President's Salary

{{company_name}} {{company_address}} Phone: {{phone}} Email: {{email}} Website: {{website}}

BOARD RESOLUTION FIXING THE PRESIDENT'S SALARY

DATE: {{date}}

WHEREAS, the Board of Directors of {{company_name}} (hereinafter referred to as "the Company") is duly constituted and empowered to establish the compensation of the Company's executive officers, including the President;

WHEREAS, the Board has reviewed the performance of {{president_name}}, the current President of the Company, and has considered market compensation benchmarks for similar roles within the industry and region;

WHEREAS, it is deemed to be in the best interest of the Company to formally resolve and establish the salary of the President.

RESOLUTION

NOW, THEREFORE, BE IT RESOLVED, that the annual gross salary of {{president_name}} for the position of President of {{company_name}} shall be fixed at {{currency}} {{annual_salary_amount}} ({{annual_salary_in_words}}), effective from {{effective_date}}.

BE IT FURTHER RESOLVED, that this salary shall be paid in {{payment_frequency}} installments, subject to standard payroll deductions and taxes as required by law.

BE IT FURTHER RESOLVED, that in addition to the base salary, {{president_name}} shall be entitled to receive benefits as outlined in the Company's executive benefits policy, which may include health insurance, retirement contributions, and other perquisites, subject to the terms and conditions of those policies.

BE IT FURTHER RESOLVED, that any future adjustments to the President's salary shall be subject to review and approval by the Board of Directors.

BE IT FURTHER RESOLVED, that the Chief Executive Officer or any other authorized officer of the Company is hereby authorized and directed to take all necessary actions to implement this resolution, including but not limited to, updating employment contracts and payroll records.

CERTIFICATION

I, {{secretary_name}}, Secretary of {{company_name}}, do hereby certify that the foregoing is a true and accurate copy of a resolution duly adopted by the Board of Directors of {{company_name}} at a meeting held on {{meeting_date}}, at which a quorum was present and voting, and that such resolution is in full force and effect and has not been revoked or amended.

IN WITNESS WHEREOF

I have hereunto set my hand and affixed the seal of the Company this {{day}} day of {{month}}, {{year}}.

_____________________________ {{secretary_name}} Company Secretary