After many difficult years, which called for sacrifices on the part of the company’s directors, ABC Manufacturing Inc. was finally earning substantial profits. Thus, the President proposed to the Board of Directors that the directors be paid a bonus equivalent to 15% of the company’s net income before tax during the preceding year. The President’s proposal was unanimously approved by the Board. A stockholder of ABC questioned the bonus. Does he have grounds to object? (1991 BAR)