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The place the assured time period of a director’s employment with the company or a subsidiary is or could also be longer than two years, approval has to be given by a decision of the members of the company and of the company’s holding firm of which he is also a director (Companies Act 2006, section 188). If a company agrees to a long-term provision in contravention of the requirement for such approval, the provision is void to the extent of the contravention and the corporate is entitled to terminate the contract at any time by giving reasonable discover (Firms Act 2006, sections 188 and 189).
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