Document background
The Director's Agreement serves as the foundational document establishing the legal relationship between a company and its director under Austrian law. This document is essential when appointing new directors or renewing terms for existing directors in both GmbHs (limited liability companies) and AGs (stock corporations) in Austria. It comprehensively addresses all aspects of the directorship, including appointment terms, powers, duties, remuneration, benefits, and termination provisions, while ensuring compliance with Austrian corporate law requirements. The agreement is particularly important as it defines the scope of director's authority, corporate representation powers, and compliance obligations, while also protecting both parties' interests through clear delineation of rights and responsibilities. It must be drafted in accordance with Austrian corporate governance requirements and should reflect any specific industry regulations or company-specific requirements.
