Contract templates: Director Service Agreements – Simons Muirhead Burton

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Please find the template and more details for a Director Service Agreement below.

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Director Service Agreements

This template particularises the terms and conditions that are appropriate for a director of a company. Typically, the terms follow what is set out in the template for the senior employment contract save that, where a person is acting as a director, there are statutory duties that also need to be accounted for. Moreover, it is common that clause is present which allows the director to benefit from an employer’s Directors & Officers insurance (if any). Finally, given this senior role and how integral a director is to a company, there will likely be an enhance remuneration and benefits package and a robust exit framework in the event that a director leaves employment and resigns their directorship of the company. A unique situation that must also be considered under these agreements is what happens to the director role in the event that a company merges or is acquired by another.