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Board Resolution For Increase In Salary Of Director for Pakistan

Board Resolution For Increase In Salary Of Director Template for Pakistan

A formal corporate document drafted under Pakistani law that records the board of directors' resolution to increase the salary of one or more directors. The document complies with the Companies Act 2017 and SECP regulations, containing detailed meeting information, specific salary revision terms, and necessary authorizations. It serves as an official record of the board's decision and includes essential elements such as meeting details, attendee information, resolution terms, and certification by the company secretary.

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Board Resolution For Increase In Salary Of Director

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What is a Board Resolution For Increase In Salary Of Director?

The Board Resolution For Increase In Salary Of Director is a crucial corporate governance document used in Pakistani companies when modifying director compensation. This resolution is required under the Companies Act 2017 and must be filed with the Securities and Exchange Commission of Pakistan (SECP) for proper corporate compliance. The document is typically prepared when a company decides to revise director compensation based on performance, market conditions, or strategic decisions. It must include specific details about the meeting, the decision-making process, and the exact terms of the salary increase. The resolution serves multiple purposes: it formally documents the board's decision, ensures regulatory compliance, provides a reference for payroll and audit purposes, and maintains transparency for shareholders and regulatory bodies.

What sections should be included in a Board Resolution For Increase In Salary Of Director?

1. Title and Company Details: Full legal name of the company, registration number, and registered office address

2. Meeting Details: Date, time, venue of the board meeting, and confirmation of quorum

3. List of Attendees: Names of directors present and absent, including chairman and company secretary

4. Recitals: Background information including current salary, reason for increase, and reference to any performance review

5. Resolution Statement: Formal declaration of the board's decision to increase salary, including specific amounts and effective date

6. Terms of Revised Compensation: Detailed breakdown of new salary structure, benefits, and payment terms

7. Authorization: Empowerment of specific officers to implement the resolution and complete necessary documentation

8. Certification: Company Secretary's certification of the resolution's adoption and accuracy

What sections are optional to include in a Board Resolution For Increase In Salary Of Director?

1. Performance Review Summary: Include when salary increase is tied to specific performance metrics or evaluation

2. Compliance Statement: Add for listed companies to confirm adherence to SECP regulations and Corporate Governance Code

3. Tax Implications: Include when specific tax considerations need to be documented

4. Dissenting Opinions: Required if any board members vote against or abstain from the resolution

What schedules should be included in a Board Resolution For Increase In Salary Of Director?

1. Schedule A - Salary Structure: Detailed breakdown of revised salary components including basic salary, allowances, and benefits

2. Appendix 1 - Performance Metrics: If applicable, documentation of performance criteria justifying the salary increase

3. Appendix 2 - Comparative Analysis: Optional market comparison or internal equity analysis supporting the salary revision

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Pakistan

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions
























Clauses


















Relevant Industries

Banking & Financial Services

Manufacturing

Technology

Retail

Healthcare

Energy

Telecommunications

Real Estate

Professional Services

Education

Construction

Mining

Agriculture

Transportation & Logistics

Relevant Teams

Legal

Human Resources

Finance

Compliance

Corporate Secretariat

Payroll

Audit

Corporate Governance

Executive Office

Relevant Roles

Board Director

Company Secretary

Chief Executive Officer

Chief Financial Officer

HR Director

Legal Counsel

Compliance Officer

Corporate Secretary

Finance Manager

HR Manager

Payroll Manager

Audit Manager

Corporate Governance Officer

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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