Practice question
Is Section 29’s ten-percent annual director-compensation ceiling calculated separately for every director?
- Yes, each director gets an independent ten percent
- Yes, except the chair gets twenty percent
- No; the section speaks of total yearly director compensation
- Yes, if the board is large
- Yes, if each payment uses a separate voucher
Legal references
- Revised Corporation Code, RA 11232, Section 29: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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