Elimination Of The Duty Of Care In Delaware? Statutory Exculpation Of Officers: Recent Amendment To Section 102(B)(7) Of The Delaware General Corporation Law
Special Counsel Nicholas Perricone authored an article republished by WestLaw Today discussing an amendment to the Delaware General Corporation Law that allows corporations to eliminate or limit the personal liability of certain officers for breaches of the duty of care. The article addresses, "(1) key considerations concerning newly amended Section 102(b)(7) and (2) a model exculpation provision, including a discussion of its common features and the various terms and conditions to consider when drafting such a provision."
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