Under the Model Business Corporation Act,shareholder approval is required for employee and director stock option plans.

Name: Under the Model Business Corporation Act,shareholder approval is required for employee and director stock option plans.
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According to section 6.40 of the Model Business Corporation Act, shareholder approval is required for the establishment of any stock option, stock appreciation right, or other equity-based compensation plan for employees or directors.

Under the Model Business Corporation Act,shareholder Approval Is Required for Employee