The Corporations Act states that directors may be paid a fee for directorial services as set out by a member resolution. Directors may also be reimbursed for travelling and other expenses incurred in connection with the company’s business in general.
Directors who hold executive positions with a company usually receive salaries or bonuses as an employee and generally do not receive a board fee.
Boards should aim to have a clear and transparent remuneration process, as this encourages market confidence.
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