Search Directorship.com for:
Top Tags:
accounting & audit board administration calpers ceo ceo succession compensation corporate governance credit crisis director news executive compensation korean investment corp. kuwait investment authority merrill lynch mizuho corporate bank of japan proxy say on pay sec shareholders strategy & leadership
 The Directorship Boardroom & Economic ForumTo register for the annual global gathering of leading board directors and corporate governance influentials click here.
Do you think that Ben Bernanke and the Fed have done a good job since the economic downturn?August 22, 2008 Alert Raised on Director ExposureThe decision in Schoon v. Troy Corp., now on appeal, clarifies that in Delaware, unless otherwise provided in the bylaws or agreed by contract, a director’s right to advancement of expenses does not vest until the company’s obligation is triggered.
A paper, co-authored by David A. Katz of Wachtell, Lipton, Rosen & Katz and posted on the Harvard Law School Corporate Governance blog, explores the implications of the decision, noting that it is "significant since the advancement of expenses in corporation-related lawsuits, along with broad indemnification, is an important feature of director protection.
"The decision may leave former directors, in particular, vulnerable to bylaw amendments affecting their right to advancement of expenses."
Tags: the decision (1) schoon v. troy corp. (1) delaware (3) bylaws (2) director’s right (1) harvard law school corporate governance blog (6) delaware decision (1) indemnification (1) director protection (1) former directors (1) bylaw amendments (1) david katz (2) wachtell lipton rosen & katz (5)
|
           The Directorship Boardroom & Economic ForumThe Directorship Institute, held on December 2, 2008, brings together the most well respected voices in corporate governance. For more information click here or call 617.399.3043.
|
