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Business Associations Keyed to Bainbridge
Grimes v. Donald
Citation:673 A.2d 1207 (Del.Supp.Ct.1996)
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The Company is a Delaware corporation and designs, manufactures, markets and services telecommunication systems. The Employment Agreement provides that Donald shall be responsible for the general management of the affairs of the company and that Donald shall report to the Board. The Agreement runs until the earlier of Donald’s 75th birthday or his termination. As required by the Court of Chancery Rule 23.1, Grimes alleges that he demanded the Board that it abrogate the Agreements. The Board refused the demand alleging that Donald’s duties as described in the Agreement do not constitute an impermissible delegation of the duties of the Board of Directors.
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