Part 2D.2 of the Corporations Act 2001 (Cth) regulates the making of termination payments to company directors, with the aim of limiting or preventing companies from giving golden parachutes. Termination payments are prohibited unless they have shareholder approval, or they fall within...

A review of Pay without performance: the unfulfilled promise of executive compensation by Lucian Bebchuk and Jesse Fried.This article examines the outrage constraint and the related issue of camouflage in practice to suggest that their are limits to the ability of outrage to constrain executive...