Mandate contract (director appointment)
Use this contract to appoint a director. It represents a binding contract concluded between the company (principal) and a natural or legal person (the administrator) that describes the terms and conditions in which the administrator represents and makes decisions on behalf of the company.
The contract contains provisions regarding the following essential aspects:
- Parties: clearly identify the contracting parties, including their full company name(s) and designated director.
- Appointment details: specifies the effective date of the appointment, the term of office and any renewal or termination provisions.
- Limits of power of attorney: clearly defines the director's authority, duties and responsibilities. This may include participation in board meetings, decision-making processes and compliance with corporate governance standards. Directors' powers may be limited.
- Obligations: Outlines the director's obligations, such as acting in the best interests of the company, maintaining confidentiality, avoiding conflicts of interest, and complying with relevant laws and regulations.
- Compensation and benefits: Details the compensation, benefits and other remuneration the director will receive for his work, including any stock options, bonuses or other incentives.
- Reporting structure: Describes the director's reporting relationships, including interactions with other board members, executive officers or shareholders.
- Liability: Clarify the limits of the director's liability in case of legal actions.
- Confidentiality and Non-Compete: Includes clauses requiring the director to maintain the confidentiality of sensitive company information and refrain from engaging in activities that may compete with the company's interests.
- Applicable law: specifies the jurisdiction whose laws will govern the contract and any disputes arising from it.
- Amendment and Termination: Sets out how the contract can be modified and under what circumstances it can be terminated by the parties.
Use this contract for limited liability company.
Parties: clearly identify the contracting parties, including their full company name(s) and designated director.
Appointment details: specifies the effective date of the appointment, the term of office and any renewal or termination provisions.
Limits of power of attorney: clearly defines the director's authority, duties and responsibilities. This may include participation in board meetings, decision-making processes and compliance with corporate governance standards. Directors' powers may be limited.
Obligations: Outlines the director's obligations, such as acting in the best interests of the company, maintaining confidentiality, avoiding conflicts of interest, and complying with relevant laws and regulations.
Compensation and benefits: Details the compensation, benefits and other remuneration the director will receive for his work, including any stock options, bonuses or other incentives.
Reporting structure: Describes the director's reporting relationships, including interactions with other board members, executive officers or shareholders.
Liability: Clarify the limits of the director's liability in case of legal actions.
Confidentiality and Non-Compete: Includes clauses requiring the director to maintain the confidentiality of sensitive company information and refrain from engaging in activities that may compete with the company's interests.
Applicable law: specifies the jurisdiction whose laws will govern the contract and any disputes arising from it.
Amendment and Termination: Sets out how the contract can be modified and under what circumstances it can be terminated by the parties.
