Document background
The Non Executive Director Agreement is a crucial document used when appointing independent board members to enhance corporate governance and oversight. This agreement, governed by Hong Kong law, is essential for both listed and private companies seeking to formalize the appointment of Non-Executive Directors and ensure compliance with the Hong Kong Companies Ordinance, Corporate Governance Code, and other relevant regulations. The document typically includes comprehensive provisions covering appointment terms, duties, independence requirements, remuneration, and various compliance obligations. It's particularly important in the Hong Kong business environment where corporate governance standards are increasingly scrutinized and where independent board oversight is viewed as a key element of good corporate practice. The agreement helps protect both the company and the director by clearly defining their respective rights, obligations, and expectations.
