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PROPOSED RESOLUTIONS TO BE ADOPTED
AT THE MEETING OF THE BOARD OF DIRECTORS
OF
ABC CORPORATION, INC.



December _____, 2____


      WHEREAS, the Board of Directors of the Company believes that it is in the best interests of the Company to create a Deferred Compensation Plan for a select group of management and highly compensated employees of the Company, and the Board of Directors intends such a Plan to be considered an unfunded arrangement for purposes of the Employment Retirement Income Securities Act of 1974;

NOW, THEREFORE, it is hereby


RESOLVED: That the Board of Directors hereby adopts the attached ABC Corporation Deferred Compensation Plan (the "Plan").


RESOLVED: That the Board of Directors hereby delegates authority to officer as Administrator under the Plan or other senior executive as it may determine; provided, however, that the Board of Directors may at any time revoke its delegation of authority to the Plan Administrator.


RESOLVED: That no executive or manager who is a Participant in the Plan and is delegated authority to act on behalf of the Board of Directors as the Plan Administrator shall vote or otherwise participate directly in any decision that may effect the amount or timing of payments of his or her Account Balance made under the Plan.


RESOLVED: That the Plan Administrator may from time to time designate employees eligible to participate in the Plan.

 

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