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What should be included in a Service Agreement for directors?

27 May 2021

An Executive Director has rights and obligations arising as an employee as well as a director of the company. It is important to remember that these two roles are separate but related. A director's Service Agreement is a more complex contract of employment than the basic contract of employment.

It can comprise one or more documents but generally the main terms will be contained in the Service Agreement. The term 'Service Agreement' or 'Service Contract' is generally used for an employment contract that is given to a director but in essence it is just an employment contract.

This factsheet is primarily intended for Directors of private limited companies and unquoted public limited companies. Directors of listed public limited companies will be subject to additional provisions.  

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