So-called “new wave” stockholder agreements that purport to meaningfully limit a board’s authority to manage a corporation got a recent stern look from the Delaware Court of Chancery in West Palm Beach Firefighters’ Pension Fund v. Moelis & Company, No. 2023-0309-JTL (Del. Ch. Feb. 23, 2024). Our colleagues Emily Yukich and Jonathan Dolgin discuss here the court’s review of provisions that granted broad pre-approval rights to the company’s CEO of proposed board actions. Such holdings are worthy of note for North Carolina practitioners given that “North Carolina courts have frequently looked to the well-developed case law of corporate governance in Delaware for guidance.”  State v. Custard, 2010 WL 1035809, at *18 (N.C. Super Ct. March, 19, 2010).