NEDonBoard is The Professional Body for Non-Executive Directors & Board Members in the UK. For Business Leaders, For your Board. Find your next Non-Executive role, event or set up proper governance in the boardroom. Professional Network for Board Members.
The appointment of a non-executive director is a contract for services and not a contract of employment. The NED or non-executive contract or agreement is referred as a letter of appointment and some key elements should be included. The article highlights some of the terms that incoming non-executive directors should expect when they review the letter of appointment. The non-executive agreement establishes the role and sets the expectations Here are the basic elements to the NED agreement: Appointment term Duties Time commitment Fee and expenses Review Conflicts of interest (Non-Compete) Confidentiality Data protection Intellectual property Termination Indemnity and insurance
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