| Commentary

11 Remuneration of directors

| Commentary

11 Remuneration of directors

Although directors are officers of the company, they do not become employees of the company by virtue of that office and, in the absence of an appropriate provision in the company’s articles of association, a director is not entitled to remuneration for holding office as director1, nor even to travelling or out-of-pocket expenses2. Even if the director is providing some form of executive service for the company, he will not be entitled to claim any remuneration in respect of this (for example, on the basis of a quantum meruit)3. In any of these circumstances, the director

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