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Abstract

Several recent instances of the premature termination of directors’ service contracts and of the companies facing dire straits have drawn attention to the lavish scale on which the directors of some companies are remunerated. Not only may directors be paid enormous salaries but these are often supplemented by generous pension rights and a wide range of non-monetary benefits, either free of charge or on very favourable term. This article is an attempt to determine the directors’ right in various situations in which they may claim to be paid and the extent to which the Corporations Law controls the amount of directors’ remuneration.

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