Which one of the following is an example of breach of fiduciary duty?

a.The directors of the corporation refuse to give a pay raise to the employees although they had not received a pay raise for five years.

b.A shareholder owning 2% of the outstanding shares started a business in direct competition with the corporation in which he held shares.

c.An officer of the corporation learned of a business opportunity intended for the corporation and intercepted it for his own benefit.

d.The directors refused to declare a dividend, contrary to the request by its preferred shareholders.

e.A director profited $120,000 from a contract between the corporation and a firm in which he had an interest after he made full disclosure of his interest to the board of directors and abstained from the vote on the contract.