A comprehensive employment contract which replaces what
would have been a directors service agreement a few
years ago
About this document
This document is suitable for use by the board or governing body of a company agreeing terms with a new director or changed terms with an existing office holder or an individual director wishing to write his own contract in terms which specifically suit him. It has been drafted for any executive director - that is, any director who actively works full time for the enterprise – is an employee of the enterprise, and who receives remuneration in return. He may be the managing director or any other.Gone are the days when a director's service contract merely reflected the "deal" for the employment. Today a company is under a statutory obligation to provide written terms of employment to a director, as to any other employee. Of course it is advantageous to both sides to set down the employment package in a contract, rather than in a few words from the company.
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.
This document has been revised to include the latest model Disciplinary and Grievance porcedures as recommended by ACAS.
Application
and features
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 Employment Act 2002
Provides a complete framework and other legal safeguards
Written in plain English
Contents
Compliance with Working Time Regulations 1998
Alternative holiday arrangements
Alternative pension provision
All usual perquisites
Retirement
Sickness, certification, sick pay
Arrangements during notice period
Director's compliance with all stock exchange and similar regulations
Extensive protection of new intellectual property
Summary termination and matters after termination
Confidentiality and data protection
Clear and comprehensive grievance and disciplinary procedures
Contracting out of entitlement to redundancy payment and certain other rights on expiry of the fixed term
Word
Count (approximate):
Document: 6000
words
Explanatory notes:
1300
words
Draftsman
This document is drawn and maintained by Net Lawman. It is real law in plain English.
