The world's three largest offshore companies registered in a legal comparative study Serial 7

The world's three largest offshore companies registered in a legal comparative study Serial 7

The directors and senior management personnel and compensation exemption

(1) Bermuda. According to the Bermuda Companies Act, articles of association or the senior management of the Company and any agreement or arrangement reached between the compensation for corporate officers may be waived, or due to negligence, fault, breach of contract or breach of fiduciary responsibility or liability arising from the loss. But does not include fraud and infidelity.

(2) British Virgin Islands British Virgin Islands Companies Law provides that directors and senior management staff can not be exempt according to the company outline, or charter, management, business arising from personal responsibility. However, if they are the best interests of the company's good faith in order to work, the company can compensate the losses they have suffered. Involved in criminal proceedings as a director or senior management there was no reasonable virtual office cause to believe their behavior is illegal, then the company can compensate them.

(3), the Cayman Islands. The Cayman Islands Companies Law does not limit the company's charter to the company's senior management officers and directors of the compensation level. The only exception is provided by the Cayman Islands court ruled that whether the provision of certain damages contrary to public policy (such as compensation for a crime, infidelity, malicious negligence or fault caused by the loss).