9+ Director Agreement Templates – Sample, Example
A director signs into a company with terms and conditions that are different from a regular employee. Thus, a certain agreement is required to ensure that the director and the entity fulfill the responsibilities for each other to comply. A director agreement may not be binding and legal in some ways making it different from legal documented agreements like a partnership agreement.
There are stipulations, however, on the agreement that would entail particular duties that a newly joined director should follow similar to a non-compete agreement as included in other forms of agreements. You may also see director templates.
Agreement Template Bundle
Indemnification Agreement for Directors Template
Do you need to make a document that would help minimize potential personal liability for actions taken by company directors? If so, then we got just the thing for you. This is professionally designed and industry compliant to help in compensating for damages or loss and is based on agreements between the directors and the company. You can edit it the way you like best. It can also be customized and printed in a way that suits your needs best.
Agreement for Chairman of Board of Directors Template
The Agreement template in Word given above is one for the chairman of the board of directors. It serves as a legally binding document for the individual who agrees to take up the role and responsibilities of a chairman of the board. Any concerns and details to iron out will be solved through the easy use of the above template. It can be easily edited and customized in a way that suits your needs best.
Medical Director Agreement Template
A medical director’s agreement like the one above is used by physicians who have to follow a certain criteria and have certain qualifitions to be named as fully qualified to be consulted by people. The above template has the details of the physician like his/her name, address, affiliation to which clinic, license number, etc. It has to be signed so as to be considered a legal document.
Film Director Agreement
Free Director Agreement in PDF
How to Create a Director’s Agreement?
1. Title of the Agreement
The first thing you need to do is give your agreement a title. There are many agreement templates in PDF available online which you can edit and customize to fit your needs perfectly. The title of the agreement should give you a gist of what the agreement is and what could possibly be in the agreement as well. Keep the title short and precise.
2. Identify the Parties
The next thing for you to do is identify the parties that are involved in the agreement. All their details should be clearly mentioned, in this way, everyone would know each other. Also, mention all the responsibilities and work that ll the parties are supposed to do. This way, everyone knows what they should do. The details to be mentioned could be their names, any addresses, location of the company, etc.
3. Details of the Agreement
Details of the agreement are very important. This means that you have to mention the main purpose of the agreement. Legal agreement templates can be of great help as all the agreements should be legally bound, no matter what. Mention the benefits of the clients as well, if any. Mention even the minutest detail that needs to be noted in the agreement without fail.
4. Terms, Conditions, and Laws
Mention all the terms and conditions of the agreement without missing any. This makes it easier for others to know what are the rules and regulations they have to follow. Mention the state laws you are supposed to follow. It is very important that you also mention what are the terms and conditions for the termination of the agreement too. Be very precise about what you are to say in the agreement.
There are many agreement templates that you can check and use to make the right directors agreement. After you are done drafting the entire agreement, read it once again, just to make sure that there are no grammatical errors or you have not missed any details that you need to mention in the agreement.
Signatures play an important role in the agreement as once they are signed, they are legally bound. So, if you need to make any changes before the signatures, make sure you do so with the consent of all the parties involved in the agreement. The agreement should be read carefully before being signed. After the signatures, give each of the person/party a copy.
Executive Director Agreement
Director Agreement Template Types
Unlike purchase agreement templates, various formats of director agreements are applicable to different types of directors as they serve as representations of the entity for the organization to follow. In contrast with this, below are there the different types of different agreement templates that you can use:
- Medical Director Agreement Template – This type of template should be used as an example for a directors agreement format that includes the responsibilities required for a director in the medical field to have.
- Film Director Agreement Template – This director agreement template is similar to that of any subcontractor agreement. What differs is that the project in this discussion pertains to films that require different terms and conditions applicable to the film production.
- Executive Director Agreement Template – A template of this format has similarities with any employment agreement because of the conditions with regards to the workplace conditions, situations, responsibilities, etc. of an executive director.
- Board of Director Agreement Template – This free agreement template contains specific conditions as to how a director must behave as an exemplary individual of the business entity especially in academic and medical institutions.
- Company Director Agreement Template – A director of a company is issued with this agreement in relation to his/her employment and also, the expectations defined by both the director and also the company.
Board of Director Agreement
Company Director Agreement
Independent Director Agreement
Essential Elements in a Director Agreement
A director agrreement is usually created with the addition of essential elements, just like any other agreement format is made. You can also take the help of vendor agreement templates that are avaable online for your use. The following elements are these elements that make a greeat difference in any agreement you make:
- Appointment Terms – There is already a set standard by a business entity as to how a director is appointed into the board. Indicating this requirement will certify that the individual being appointed met the standards. The date and the terms of the appointment is specified.
- Indemnification Clause – This statement stipulates a director’s inclusion of the rights as given to a director of a business entity. This is governed by the statements of the law of state it is under jurisdiction.
- Compensation and Benefits – This pertains to the allowable share of investment a director can purchase. The distribution of these shares is indicated following the policies of the company when it comes to the stock options.
- Duties and Responsibilities – In exchange for the benefits allotted, a director must be able to comply with his duties and responsibilities to the entity including non-disclosure of company information.
Drafting a director agreement is aligned with both the interests of the entity and the director in order for each party to comply with the expected duties. You can use any of the above sample agreement templates of the director agreement as a guide so that you make the perfect director agreement that will meet all the needs of the parties involved in the agreement.