Agreement Between Director And Company Generator for United Arab Emirates

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Key Requirements PROMPT example:

Agreement Between Director And Company

"I need an Agreement Between Director And Company for appointing a new executive director to our UAE-based technology company, starting March 1, 2025, including provisions for share options and international travel requirements."

Document background
The Agreement Between Director And Company is a crucial document in UAE corporate governance, essential for establishing clear parameters for director appointments and ensuring compliance with UAE Federal Law No. 32 of 2021 and related regulations. This agreement is typically used when appointing new directors or formalizing existing directorship arrangements, whether for executive or non-executive positions. It encompasses key aspects such as appointment terms, remuneration, duties, confidentiality obligations, and termination provisions. The document is particularly important in the UAE context due to specific local legal requirements regarding director responsibilities, corporate governance, and company management. It serves as both a legal safeguard and a practical framework for the director-company relationship, often requiring careful consideration of both local and international business practices when the company has foreign investments or operations.
Suggested Sections

1. Parties: Identification of the company and the director, including full legal names and addresses

2. Background: Context of the appointment and brief description of the company's business

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Term: Terms of appointment, duration, and renewal provisions

5. Duties and Responsibilities: Detailed description of director's duties, including statutory obligations under UAE law

6. Time Commitment: Expected time dedication to the role and attendance requirements

7. Remuneration: Details of fees, allowances, and any other benefits

8. Expenses: Policy on reimbursement of expenses incurred in role performance

9. Confidentiality: Obligations regarding confidential information and trade secrets

10. Conflicts of Interest: Procedures for declaring and handling conflicts of interest

11. Board Meetings and Procedures: Requirements for participation in board meetings and decision-making processes

12. Compliance with Laws and Policies: Obligation to comply with UAE laws and company policies

13. Termination: Grounds and procedures for termination of the appointment

14. Post-Termination Obligations: Continuing obligations after the end of the appointment

15. General Provisions: Standard clauses including governing law, notices, and entire agreement

Optional Sections

1. Executive Duties: Additional section for executive directors detailing operational responsibilities

2. Share Options and Long-Term Incentives: For arrangements including equity-based compensation

3. International Travel: For roles requiring significant international travel

4. Subsidiary Board Appointments: For directors serving on multiple boards within a group

5. Insurance and Indemnification: Detailed provisions for director's liability insurance and company indemnification

6. Non-Competition: Restrictions on competing activities during and after directorship

7. Training and Development: Requirements for ongoing professional development and training

8. Corporate Governance Requirements: Specific section for listed companies or regulated entities

Suggested Schedules

1. Schedule 1 - Remuneration Details: Detailed breakdown of compensation package including fees, benefits, and payment terms

2. Schedule 2 - Position Description: Detailed description of the role, responsibilities, and performance expectations

3. Schedule 3 - Company Policies: List of key company policies applicable to the director

4. Schedule 4 - Board Committee Memberships: List of committee appointments and associated responsibilities

5. Schedule 5 - Approved Outside Directorships: List of pre-approved external board positions

6. Appendix A - Declaration of Interests: Template for declaring personal interests and potential conflicts

7. Appendix B - Expense Policy: Detailed policy on claiming and documenting expenses

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Financial Services

Technology

Real Estate

Healthcare

Manufacturing

Retail

Energy

Telecommunications

Professional Services

Construction

Transportation

Hospitality

Education

Media and Entertainment

Relevant Teams

Legal

Corporate Governance

Board of Directors

Executive Management

Compliance

Human Resources

Company Secretariat

Risk Management

Corporate Affairs

Relevant Roles

Board Director

Executive Director

Non-Executive Director

Managing Director

Independent Director

Board Chairman

Vice Chairman

CEO

CFO

COO

General Counsel

Company Secretary

Corporate Governance Officer

Compliance Officer

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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