Exhibit 99.1
ELECTRONIC SYSTEMS TECHNOLOGY, INC.
CORPORATE RESOLUTION
At a meeting of the Board of Directors of Electronic Systems Technology, Inc. held at 415 N. Quay St., Bldg B1, Kennewick, Washington, on February 27, 2014, the following item was presented before the meeting:
The Board reviewed and considered a proposal from Tom Kirchner, chairman of the compensation committee that stock options at $0.41 be awarded to the following:
| | | | |
Name | Status | Number of Common Shares Underlying Unexercised Options (#) Exercisable | Option Exercise Price | Option Expiration Date |
Melvin Brown | Director | 25,000 | $0.41 | 2/27/2017 |
Michael S. Brown | Director | 25,000 | $0.41 | 2/27/2017 |
Tom Kirchner | Officer, Director | 25,000 | $0.41 | 2/27/2017 |
John L. Schooley | Director | 25,000 | $0.41 | 2/27/2017 |
Robert Southworth | Director | 25,000 | $0.41 | 2/27/2017 |
Eric P. Marske | Employee | 15,000 | $0.41 | 2/27/2017 |
Sam Amaral | Employee | 5,000 | $0.41 | 2/27/2017 |
Alan Cook | Employee | 5,000 | $0.41 | 2/27/2017 |
Jason Muhlbeier | Employee | 5,000 | $0.41 | 2/27/2017 |
Anthony Pfau | Employee | 5,000 | $0.41 | 2/27/2017 |
Neil Hellfeldt | Employee | 5,000 | $0.41 | 2/27/2017 |
George M. Stoltz | Employee | 5,000 | $0.41 | 2/27/2017 |
Daniel Tolley | Employee | 5,000 | $0.41 | 2/27/2017 |
The Board then discussed and evaluated the proposal. After discussion and upon motion duly made and seconded, the following resolutions were adopted:
RESOLVED, effective as of February 27, 2014, approval was granted for the purpose of granting stock options to qualified Officers and employees.
FURTHER RESOLVED, that the officers of the Company are authorized to take all necessary steps to complete the proposed transaction.
Certified by:
/s/ Tom L. Kirchner
February 27, 2014
Tom L. Kirchner, President/CEO, Chairman
Date
