As a professional, my article on “sample board resolution for signing agreement” aims to provide readers with a clear understanding of what a board resolution is and how it can be used to sign agreements. This article will also provide a sample board resolution that readers can use as a reference when drafting their own board resolutions.
What is a board resolution?
A board resolution is a formal written statement that outlines the decisions made by a company`s board of directors. The resolution is a sign of agreement among board members regarding a specific issue or matter that requires their approval. Board resolutions are typically created when the board needs to make a decision that requires a vote, and the outcome of that vote needs to be recorded in writing.
Why use a board resolution for signing agreements?
When a company`s board of directors needs to sign an agreement, it is important to have a board resolution in place. This is because the resolution provides a clear record of the board`s decision to sign the agreement and outlines the specific terms and conditions of the agreement. A board resolution can also provide legal protection to the company and ensure that all board members are on the same page when it comes to signing the agreement.
Sample board resolution for signing an agreement
[INSERT COMPANY NAME] BOARD OF DIRECTORS RESOLUTION
WHEREAS, [INSERT COMPANY NAME] has been presented with the [INSERT AGREEMENT TYPE] agreement (the “Agreement”) for review, and
WHEREAS, the Board of Directors has reviewed the Agreement and discussed its terms and significance, and
WHEREAS, the Board of Directors believes that entering into the Agreement is in the best interest of the company,
NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of [INSERT COMPANY NAME] authorizes [INSERT CEO/ PRESIDENT NAME] to execute the Agreement on behalf of the company, and
BE IT FURTHER RESOLVED, that [INSERT CEO/ PRESIDENT NAME] is authorized to make any necessary revisions to the Agreement provided that the revisions do not materially alter the terms and conditions of the Agreement.
BE IT FURTHER RESOLVED, that [INSERT CEO/ PRESIDENT NAME] is authorized to take all necessary and appropriate actions to implement the terms and conditions of the Agreement, and all actions taken by [INSERT CEO/ PRESIDENT NAME] in connection with the Agreement are hereby ratified and approved.
This sample board resolution is intended as a guide and should be modified to meet the specific needs of your company. It is important to consult with legal counsel before finalizing any board resolutions.
In conclusion, a board resolution is essential when it comes to signing agreements. It provides a clear record of the board`s decision and outlines the specific terms and conditions of the agreement. By using a sample board resolution, companies can ensure that their agreements are signed in a proper and legally binding manner.