Statutory Directors have a great deal of both responsibility and power in your business. Therefore selecting the right person is critical. If you are a shareholder, you may want to limit the powers of non-shareholding directors or set out circumstances for their removal.
Our solicitors can produce suitable documents to support an appointment whilst also having an eye on termination. We can also assist you with the lawful termination of an appointed director.
The role of director is usually connected to employment (known as an executive director), this appointment will require an employment contract or service agreement to support the engagement. Alternatively, you may wish to appoint a non-executive director to your board. This is most suitably supported by a non-executive director appointment letter.
Engaging a high level asset like a director is expensive. When making a senior appointment, you can’t always be sure you are getting what you paid for. You will need to be aware of what, if any, restrictions apply to your prospective director. For example, post-termination restrictions in any existing employment contract or, where applicable, shareholder agreements can significantly hamper progress as well as leave you exposed to litigation from their ex-employer.
Our experienced solicitors will guide you through all aspects of both the appointments of and the removal of any statutory directors. We have significant experience of drafting suitable contracts for senior managers/directors including drafting complex bonus or long-term incentive schemes to ensure that you retain your good people whilst ensuring you get value for money.
Our solicitors can advise on:
- Service Agreements and Company Director Contracts of Employment
- Bonus Schemes or Schedules
- Commission Schemes
- Director and Employee Settlement Agreements
- Shareholders agreements and bonus schedules
- Share options
- Employment aspects of Shareholder/Director disputes
Why choose Trethowans?
Our team has been ranked for Employment Law in the South in the Legal 500 2023 and Chambers and Partners 2023. For expert advice on director appointments and/or how to remove a director from a limited company, please don’t hesitate to contact our team of experienced executive appointment and termination solicitors on 0800 2800 421.
