Ask HN: Board member compensation?

Our board of directors has so far (7 years) gotten by without remuneration. It consists of representatives of our various share holders, who sit on the board to protect their own interests. Now at least one board member is demanding compensation, even though the board cannot be said to do much of anything.

What is the general approach here? Do investors in young companies sit on the board for free (since it is in their interest) or do they get compensation?