In larger companies the directors main focus is to ensure that everything that possibly can be done to create money for the shareholders is done.
In many cases bringing a new director on board can be risky for the company and the shareholders as directors are often rewarded with a high level of management and profit related pay.
In much the same way as an employment contract sets out the basics of what is expected of a person and what can be expected from the company a Director Service Contract will lay out the fundamentals of the role within the business as well as further restrictions as the level of authority is increased.
As we are able to produce these contracts at Hamilton Blake our clients benefit from cost savings that would be incurred by having to use an expensive third party. We also have unrivaled knowledge about the clients business and this allows us to tailor the contract to protect our client in ways that a standardized contract may not do.
Our contracts cover areas such as pay, holiday, termination of contract, director benefits, company vehicle use, bonuses, share schemes, pensions and any other aspect we deem as important to include.
Initial meeting to discuss the director in question.
First draft is circulated to the director and the board for review whilst highlighting key areas of the contract.
A final contract is created.
The final contract is presented to the director and the board for signature.