10-2705. Compensation agreements
During any tender offer or request or invitation for tenders of any class or series
of shares of an issuing public corporation, other than an offer, request or invitation by
the issuing public corporation, the issuing public corporation shall not enter into or
amend, directly or indirectly, agreements containing provisions, whether or not dependent
on the occurrence of any event or contingency, that increase, directly or indirectly, the
current or future compensation of any officer or director of the issuing public
corporation. This section does not prohibit routine increases in compensation or other
routine compensation agreements undertaken in the ordinary course of the issuing public
corporation's business.
|