What should be included in a non-executive agreement or NED contract?

June 25, 2015First Non Executive Role, Non-Executive Director JobBy Emma Ford

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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