EX-10.B-I
from SB-2
1 page
Resolution of Board of Directors Renaissance Designer Gallery Products, Inc. March 25, 1997 the Following Resolution Was Adopted by the Board of Directors of Renaissance Designer Gallery Products, Inc. at a Special Meeting of the Board of Directors Held at the Office of the Company on March 25, 1997. " Be It Resolved, That This Corporation Will Make Available Each Person Who Serves as a Director of This Corporation During the Ensuring Year and Amount of Shares Equal to 1,000,000 of Its Common Stock, One Cent ($.01) Par Value to Each Director Which Stock May Be Acquired Over a Period of Five (5) Years From the Date of This Resolution or From the Data Such Person Serves as a Director of the Corporation, Provided, However, That 200,000 Shares of Such Stock Allocated to an Individual Director Will Vest Each Year That Such Person Serves as a Director of the Corporation May Acquire the Corporation's Common Stock Authorized Hereunder and Amount Vested Annually Amounting to 200,000 of the Corporation's Common Stock. a Director May Only Earn Such Right to Purchase the Common Stock for Any Year That He Serves and in the Event of His Termination as a Director, the Amount Vested During His Tenure as a Director Shall Remain Vested but Any Further Amounts Allocated Hereunder and Not Vested Shall Be Terminated. the Price Per Share Under This Allocation Shall Be Two Cents ($.02)." Dated This 27th Day of March, 1997 by the Undersigned, the Duly Acting Secretary of the Corporation. /S/ M. Gary Banwart M. Gary Banwart 1
12/34/56
