Directors service agreement (employment contract)
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
About this director's service agreement
Today a company is under a statutory obligation to provide written terms of employment to a director, as to any other employee. It is advantageous to both sides to set down the package in an employment contract (for directors, also known as a directors service agreement), rather than in just a few words from the company.
This directors service agreement provides a complete legal and practical framework for any executive director. It covers all the requirements for an employment contract of a board member as well as clarifying the relationship between the company and the director so as to prevent conflicts of interest. The service contract is particularly strong on the protection of confidentiality and company secrets.
The service agreement is flexible and can be used whether:
- the term of employment is fixed or running;
- the organisation is a company, charity or NGO (in the case of the latter two, the employee will be director level equivalent).
All common perquisites such as salary and benefits are also covered. Use of plain English makes editing easy and allows it to be understood by all parties.
This document provides a balance between protection for the director and for the company. If there is a difference in interests, we have favoured the company. Some of these provisions are required to comply with the law. The explanatory notes, which come with these documents, will guide you as to the importance of specific issues.
When to use this directors service agreement
- Appropriate for any director (including a Managing Director, CEO or Chairman) of any company;
- Can also be used for charities and NGOs where the level of senior management is equivalent to the directors of a company;
- Can be used for an employed part-time director.
Employment contract features and contents
- Protects the board from criticism;
- Protects the company from claims both before an Industrial Tribunal and in court;
- Protects the director from unreasonable demands;
- Up to date with the latest changes in company law;
- Provides a "shopping list" of possible director perquisites;
- Helps the company to comply with employment regulations;
- Includes principal provisions of the employmet law of India;
- Strong on protection of employer's confidential information;
- Structured so as to minimise the administrative burden of legal compliance.
The directors service agreement comprises 30 paragraphs and a schedule:
- Start and continuity;
- Job title and description;
- Place and hours of work;
- Privilege leave;
- Sickness and sick pay;
- Health insurance;
- Liability insurance;
- Company car;
- Director's responsibilities;
- Other business and employment;
- No competition;
- Intellectual property;
- Staff handbook and company policies;
- Disciplinary and grievance procedures;
- Termination (of employment or fixed term);
- Arrangements during notice period;
- Procedure after termination;
- Summary termination;
- Reconstruction or amalgamation;
- Data protection;
- Severance and invalidity;
- Schedule: Bonus system.
This document was written by a solicitor for Net Lawman. It complies with current Indian law.
Ask our solicitors about any legal matter for a fixed low price. Our qualified lawyers will answer your question quickly and confidentially by e-mail.
"Easy and fulfilled my needs. The documents are accepted by the other parties solicitors without my waiting for my own solicitors to act. Professional documents, easy to use saved my time and money."Roy Butterworth
"I was recommended to you some time ago - many thanks for an excellent document. I have you in my "favourites" Easy to navigate website - clearly displayed and simple to understand. Very easy to use and edit document in clear English. It has enabled me to present a professional and relevant document to my customers with ease. I will recommend Net Lawman due to easy to use website, documents in clear English and easy to edit, very reasonable and prompt."Martha Walker
"The document was clear to read, easy and quick to use. I will recommend Net Lawman due to ease of usability."Clive Bonny