Hire a non-executive director

About this business activity

Hiring a non-executive director can provide an objective perspective on the board's decisions, help to ensure that the board is complying with its legal and fiduciary responsibilities, and provide valuable insights and expertise on a range of issues that the board may not have otherwise considered.

Non-Executive Director Appointment Letter

This legal template serves as an official appointment letter for a Non-Executive Director (NED) under the jurisdiction of UK law. The document outlines the terms and conditions of the NED's appointment, establishing a clear understanding between the appointing company and the individual in this important board-level position.

The template covers various aspects of the appointment, starting with the introductory details of both parties involved, including the appointing company's name, registered address, and company number. It specifies the effective date of the appointment and provides necessary information about the NED's role and responsibilities.

Furthermore, the appointment letter template highlights the NED's position as a non-executive director, emphasizing their non-employment status and clarifying their fiduciary duties towards the company. It may detail the expected time commitment, highlighting the need for the NED to allocate sufficient time and attention to fulfill their duties effectively.

The document addresses the NED's remuneration and benefits, stipulating the agreed-upon fee, reimbursement of expenses, and other relevant benefits, such as insurance coverage. It may also outline the process for the annual review of fees and potential adjustments.

Additionally, the appointment letter covers matters concerning conflicts of interest, confidentiality, and compliance with legal and regulatory requirements. The NED is typically required to disclose any potential conflicts and maintain strict confidentiality regarding company information.

The template may touch upon the termination of the appointment, laying out provisions for termination by either party, notice periods, and any applicable compensation or severance packages. It may also include post-termination obligations, such as returning company property and adhering to confidentiality agreements.

Overall, the Non-Executive Director Appointment Letter template provides a comprehensive framework for conducting a legally compliant appointment process and establishing a clear understanding between the appointing company and the NED, ensuring transparency, professionalism, and adherence to UK laws and regulations governing such appointments.
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Independent Non-Executive Director (NED) Letter Agreement

The Independent Non-Executive Director (NED) Letter Agreement under UK law is a legal template designed to formalize the appointment of an independent non-executive director in a company incorporated and operating in the United Kingdom.

This letter agreement outlines the terms and conditions of the director's appointment, defining their role and responsibilities within the company. It covers crucial aspects such as the director's duties, time commitments, remuneration, and specific provisions related to their independence and impartiality.

The agreement also touches upon areas like confidentiality, conflicts of interest, and intellectual property, ensuring that the director is aware of their obligations and adheres to the highest ethical standards and legal requirements in the performance of their duties.

Furthermore, it may include termination clauses, specifying the circumstances in which the agreement can be terminated by either party and the associated procedures or consequences.

Overall, this legal template serves as an essential instrument to establish a clear and legally binding agreement between a company and an independent non-executive director, ensuring transparency, accountability, and compliance with UK corporate governance principles and regulations.
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Relevant Contract Types

πŸ‘©β€πŸ’Ό Non-Executive Director Agreement

A non-executive director agreement is a contract between a company and an individual who has been appointed as a non-executive director of the company. The agreement sets out the terms and conditions of the appointment, including the duties and responsibilities of the non-executive director, the remuneration, and the length of the appointment.

Featured templates

Advisor Agreement (Payment Via Share Options)

This legal template, titled "Advisor Agreement (Payment Via Share Options) under UK law," is a contractual document that outlines the terms and conditions between a company and an advisor. The agreement is specific to the United Kingdom jurisdiction and focuses on a unique payment arrangement whereby the advisor will receive compensation in the form of share options rather than traditional monetary methods.

The template aims to establish a clear understanding and binding agreement between the company and the advisor regarding the services provided, the duration of the agreement, and the compensation structure. The document will generally include sections such as:

1. Party details: Identifies the company and the advisor, providing their respective names, addresses, and other necessary identification details.
2. Engagement terms: Outlines the scope of services the advisor will provide to the company, specifying the nature of their expertise and the specific areas they will be advising on.
3. Compensation: Details how the advisor will be remunerated for their services primarily through the allocation of share options. It may include information on the method of valuation, the exercise period, vesting conditions, and any additional terms related to the share options.
4. Confidentiality and non-disclosure: Includes provisions to protect the company's sensitive information and trade secrets, ensuring that the advisor maintains strict confidentiality during and after the agreement.
5. Intellectual property: Clarifies the ownership and rights related to any intellectual property created or utilized during the advisory engagement.
6. Termination: Establishes the circumstances under which either party can terminate the agreement, and the notice period required for such termination.
7. Governing law and jurisdiction: Specifies that the agreement will be governed by UK law and designates the specific jurisdiction for any legal disputes that may arise.

The Advisor Agreement (Payment Via Share Options) under UK law is crucial for ensuring a transparent and legally binding relationship between a company and an advisor, outlining the rights, obligations, and compensation structure to protect the interests of all parties involved. As specific laws and regulations may vary, it is advisable to obtain legal counsel to tailor the document to the unique requirements of the situation.
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Consultancy Agreement - Company appointing an individual consultant (not using a personal service company)

The Consultancy Agreement is a legal document that outlines the contractual relationship between a company and an individual consultant, who is not engaged through a personal service company, according to the laws of the United Kingdom. This template serves as a comprehensive agreement that defines the terms, rights, and obligations between both parties throughout the consultancy engagement.

The agreement covers various essential aspects, including the scope of work, deliverables, and project timelines. It outlines the consultant's responsibilities, ensuring they provide their professional expertise, experience, and skills to assist the company in achieving specific objectives. The agreement also details the payment terms, such as the agreed upon consultancy fees, expenses, and reimbursement policies.

Additionally, this template typically addresses the consultant's obligations regarding confidentiality and non-disclosure of any proprietary or sensitive information they may gain access to during the engagement. It may include provisions safeguarding the company's intellectual property rights and ensuring that the consultant does not engage in any conflicting activities or compete with the company's business interests.

The Consultancy Agreement also covers important legal aspects that regulate the relationship between both parties. It typically includes clauses regarding termination and the circumstances under which either party can end the agreement. The document may also address dispute resolution mechanisms, indemnification, liability limitations, and any other necessary legal provisions to protect the interests of both the company and the consultant.

In summary, this legal template for a Consultancy Agreement provides a solid foundation for establishing a clear and mutually beneficial working relationship between a company and an individual consultant under the jurisdiction of UK law. By utilizing this template, both parties can define their expectations, protect their rights, and ensure compliance with applicable legal requirements throughout the consultancy engagement.
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Intellectual Property Assignment (for founders to assign IP to company)

This legal template, called "Intellectual Property Assignment (for founders to assign IP to company) under UK law," is a comprehensive document designed to facilitate the transfer of intellectual property (IP) rights from founders or creators to their company, operating in the United Kingdom.

The template aims to establish a clear and legally binding agreement between the founders and the company regarding the ownership and control of any intellectual property assets developed during the course of business operations. Intellectual property can include a wide range of intangible creations, such as inventions, designs, trademarks, copyrights, or trade secrets.

By utilizing this document, founders can formalize the transfer of their IP rights to the company, ensuring that the company has full rights and control over these assets. The template typically outlines the relevant terms and conditions of the assignment, including details about the IP being transferred, warranties and representations by the founders, and the consideration or compensation, if any, provided to the founders in return for the assignment.

This legal template serves as a valuable tool for both parties involved. For the founders, it ensures that their contributions to the company's IP are appropriately recognized, while also protecting their interests, such as receiving fair compensation or ongoing benefits from the IP. On the other hand, the template provides the company with clear ownership rights and control over the IP, which is crucial for protecting their investments, attracting investors, and facilitating future licensing or commercialization opportunities.

It's important to note that each situation may have unique circumstances, and this template should be customized to fit the specific needs and requirements of the founders and the company. Consulting with legal professionals specializing in intellectual property or corporate law is highly recommended to ensure compliance with UK laws and to address any specific concerns or considerations that may arise during the assignment process.
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