Service Agreement Company Director
External investors want to see the director`s service contract as part of due diligence. The agreement would serve as an example of how business is well organized and would show how steps have been taken to ensure that the company is prepared to make emergencies. As we have seen, it is likely that the directors of your company are employees of the company, just like the other members of your team. In addition, the Companies Act and other laws confer specific responsibilities on business leaders. For this reason, it is important that each manager has a service contract tailored to each task, especially if your company is listed. We advise you cost-effectively if you are a company that employs a director and needs an appropriate service contract tailored to the manager, or if you are an employee, have offered direction and contract and need advice or assistance in negotiations. Please contact us for a free chat. On the other hand, a non-executive director of a company is often independent, although you will still have to enter into a service contract with them to cover your tasks and obligations, while you are the director of your company. Our corporate and corporate lawyers can help you design and verify your manager`s service contracts. Tell us more about your situation by calling 0800 689 1700 or filling out this contact form.
Our goal is to respond to all messages received within 24 hours. There is another good reason why you need service agreements for directors, and that is because your directors can have multiple roles within the company, as directors, shareholders and employees. If you don`t agree in advance about how the director would be treated if he left, it can be difficult and embarrassing to separate from the relationship when it becomes acidic. In the absence of clear documentation of how these situations are managed, it can be very difficult to separate these different roles when the relationship between the director and the company or between two directors breaks down. Because your managers have privileged access to your confidential information, intellectual property, client lists and technical information, you also need to ensure that this information is protected. You can also ensure that if a director leaves your company, his or her ability to work for a competitor is limited for at least a specified period of time. Employment contracts for directors are commonly referred to as service contracts. At MBM Commercial, our team of labour law experts and human resources advisors works with you to ensure that your manager`s service contract is fully developed and that the most important questions about the position and the duties and responsibilities associated with it are addressed.
Our team of experienced lawyers and human resources advisors is available with clear and practical advice on all aspects of these service agreements. We can develop an agreement tailored to your specific needs and highlight the impact of important aspects of an agreement and negotiate the terms of a service contract with the other party on your behalf.