Milan have endured a disappointing start to the season and sit 11th in Serie A after collecting just 12 points from their opening 11 games.
The Rossoneri are also in a three-way battle with Ajax and Celtic to join Barcelona in the UEFA Champions League knockout stages and face Chievo Verona away on Sunday.
Reports have suggested that defeat at Chievo would spell the end for Allegri, but vice-president Galliani is adamant that Milan are not planning to part with their coach.
"The Chievo game is important as we are behind in the standings, but it is not the last chance saloon," Galliani stated on Friday afternoon.
"The intention of the club is to stick with Allegri until the end of the season, even if every coach has to deal with the law of results.
"However, there is no Allegri ultimatum. If we lose 22-0 then you would think of a change, but I don't like talking about the future.
"I repeat, the match in Verona is important because of the league table, but it won't be the last game on earth."
Former Milan midfielder Seedorf, who spent a decade at the San Siro, has been linked with replacing Allegri at the end of the season.
But the 37-year-old, who is currently playing in Brazil with Botafogo, told Globo Esporte: "I won't talk about this, this is not the time to talk about it."
When asked if he is ready to become a coach, the Dutchman replied: "I usually say I was born ready. Leadership is something you either have or don't have.
"I have been like this since I was a kid, even at school. I like to have responsibility, to organise, make a group, I have always felt that way."