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The Board Resolution For Termination Of Agreement is a crucial corporate document used in Malta when a company needs to formally record its board's decision to end an existing contractual relationship. This document is typically required when significant agreements need to be terminated, ensuring proper corporate governance and compliance with Maltese company law, particularly the Companies Act (Cap. 386). It serves multiple purposes: documenting the board's decision-making process, providing authorization for termination execution, and creating an official record for corporate governance purposes. The resolution should be prepared when the board has determined that terminating an agreement is in the company's best interests, and it must contain specific elements such as meeting details, director attendance, and formal authorization. This document is particularly important for audit trails, regulatory compliance, and potential future legal reference.

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

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

3. Directors Present: List of directors in attendance and those absent, including whether alternates are present

4. Background: Brief description of the agreement to be terminated and reasons for termination

5. Resolution Text: Formal resolution text stating the board's decision to terminate the agreement

6. Authorization: Specific authorization for designated officers to execute termination notices and related documents

7. Certification: Statement certifying that the resolution was duly passed in accordance with the company's articles of association