Board of Directors' Meetings
Form 252 is a standard format for the minutes of the annual board meeting. The main business of the annual meeting is to declare a dividend, elect offers for the ensuing year and set the salary of each officer. If the board takes any additional action, a record of it should be added to the minutes of the meeting, in basically the same format used for the minutes of shareholders' meetings.~

Form 252: MINUTES OF DIRECTORS' MEETING~
MINUTES OF DIRECTORS' MEETING

The Board of Directors of > held a regular meeting at the following time, date and place:

Time: > 
Date: > , 19> . 
Address: > 

The following individuals, constituting the entire membership of the Board of Directors, were present at the meeting:




> , the Corporation's President, chaired the meeting, and > , the Corporation's Secretary, served as Secretary of the meeting. 
The Secretary read a waiver of notice of the meeting that was signed by all of the directors and was directed to attach the waiver of notice to the minutes of the meeting. 
The Chairperson announced that a quorum of the directors was present and that the meeting could proceed with business. The Secretary distributed copies of the minutes of the previous regular meeting of the directors that had been held on > , 19> , and upon a duly made and seconded motion, the minutes of the aforesaid previous regular meeting were approved. 
Next, the Board heard the report of > , the Corporation's Treasurer, which included the report of > , the Corporation's accountant, and was advised that as of the close of business on the > day of > , 19> ,  the Corporation had net profits of > dollars ($> ). 
It was then 
RESOLVED, that a dividend of > cents per share is hereby declared on the outstanding common stock of this Corporation, the said dividend to be payable to shareholders of record at the close of business on the > day of > , 19> , and shall be paid on the > day of > , 19> , and it is 
FURTHER RESOLVED, that the Secretary is hereby directed to notify the shareholders that the dividend has been declared, and the Treasurer is hereby directed to pay the said dividend on the date specified above. 
Next, the Board considered the reappointment of > as President of the Corporation. > thereupon excused himself or herself from the meeting and > replaced him or her as the Acting Chair. Upon a motion duly made and seconded and unanimously carried, it was
RESOLVED, that the salary of the President of the Corporation is to be > dollars ($> ) per year, and that term for which his or her employment shall continue under this resolution shall be one year.
Next, upon the conclusion of the vote on the above-described resolution, the President returned to the room and resumed the office of Chair of the meeting. 
Next, the Board considered a proposed agreement for the supply of > to the Corporation that had been negotiated by the President, and it was 
RESOLVED, that the Corporation should accept the proposed agreement, dated > , 19>  , a copy of which is attached to the minutes of this meeting, and by this Resolution directs the President to execute the aforesaid agreement. 
As no other business was before the meeting, a duly made and seconded motion to adjourn was carried.

Chairperson

Secretary