Director Service Agreement Sample

When it comes to running a successful business, having a director on board can make all the difference. However, before you hire a director, it`s important to have a director service agreement in place, which outlines the terms and conditions of your working relationship.

A director service agreement is a legal document between the director and the company that outlines the responsibilities, duties, and compensation of the director. This agreement helps ensure that both parties are on the same page and can avoid misunderstandings in the future.

If you`re unsure of how to create a director service agreement, you`re in luck. There are several director service agreement samples available online that you can use as a starting point. Here are some elements that should be included in a director service agreement:

1. Introduction

Start the agreement with a brief introduction that outlines the parties involved in the agreement, including the name of the company and the name of the director.

2. Appointment and Duties

This section should outline the director`s appointment and the duties they will be responsible for. It should also include any limitations on the director`s powers.

3. Term of the Agreement

Specify the length of the agreement, including the start and end date. If the agreement is renewable, state the conditions for renewal.

4. Compensation

This section should outline the director`s compensation, including salary, bonuses, and any other benefits they will receive.

5. Termination

Include the conditions under which the agreement can be terminated, such as breach of contract or resignation.

6. Confidentiality and Non-Disclosure

Include a confidentiality clause that prohibits the director from sharing any proprietary or sensitive information with third parties.

7. Intellectual Property

Outline the ownership of any intellectual property created by the director while working for the company.

8. Governing Law

Specify the governing law that will apply to the agreement.

9. Signatures

Both parties should sign the agreement to indicate their acceptance of the terms and conditions.

In summary, a director service agreement is an essential document that sets out the terms and conditions of the working relationship between the company and the director. By using a director service agreement sample, you can ensure that your agreement is comprehensive and covers all the necessary elements. With a clear agreement in place, both parties can work together with confidence and clarity to help the business succeed.