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Hello tutor,
What is meant by “compensation for loss of office” ?(in the context of remuneration of directors)Where a director has a service contract for a year and the company wishes to terminate that contract after, say, 3 months, the director should be entitled to be compensated for the loss of future earnings
But it could be the case that a director, according to the contract of employment, should be compensated to the level of, say, one year’s basic salary so it wouldn’t matter whether the company terminated it after 3 months, 6 months, 11 months … the director would still be eligible to receive one year’s salary
OK?
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