Which party does a Board of Director have employment contract with?

Question

Do they have contract with the company or are they individuals? Free lancers? It would be super if someone can give me some reference with the answer. thx a lot

Answer 1

members of any board of directors may or may not have contracts with the companies they sit on. it really depends on the agreement the directors make with the companies.

most directors are prominent members of the community, have extensive experience in the industry, and/or hold a major stake in the corporation.