Directors Agreement Template for Nigeria

1. Parties: Identification of the company and the director entering into the agreement

2. Background: Context of the appointment and brief description of the company's business

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Term: Terms of appointment, duration, and renewal provisions

5. Duties and Responsibilities: Detailed description of the director's duties, including statutory and fiduciary duties under CAMA 2020

6. Time Commitment: Expected time dedication to the role and other commitments

7. Remuneration: Details of fees, salary, and other benefits

8. Expenses: Provisions for reimbursement of reasonable expenses

9. Confidentiality: Obligations regarding confidential information and trade secrets

10. Conflicts of Interest: Procedures for declaring and handling conflicts of interest

11. Termination: Circumstances and procedures for termination of the agreement

12. Company Policies: Obligation to comply with company policies and procedures

13. Governing Law: Specification of Nigerian law as governing law and jurisdiction

14. General Provisions: Standard boilerplate clauses including notices, entire agreement, and amendments

1. Schedule 1 - Duties and Responsibilities: Detailed list of specific duties and responsibilities

2. Schedule 2 - Remuneration Package: Detailed breakdown of compensation including salary, benefits, and allowances

3. Schedule 3 - Company Policies: List of relevant company policies the director must comply with

4. Schedule 4 - Board Committee Duties: Specific responsibilities related to board committee memberships

5. Schedule 5 - Performance Metrics: Detailed KPIs and performance evaluation criteria

6. Appendix A - Statutory Declaration: Declaration of compliance with CAMA 2020 requirements

7. Appendix B - Conflict of Interest Form: Standard form for declaring conflicts of interest