Document background
The Directors Service Agreement is a fundamental document used when appointing executive directors to Irish companies, establishing the legal framework for the relationship between the company and its director. It is particularly crucial for ensuring compliance with Irish company law, especially the Companies Act 2014, and corporate governance requirements. This agreement is typically implemented when appointing new directors or updating terms for existing directors, containing comprehensive provisions covering appointment terms, duties, remuneration, benefits, confidentiality obligations, and post-termination restrictions. The document serves multiple purposes: protecting the company's interests, ensuring clear understanding of the director's roles and responsibilities, and providing security and clarity for the director regarding their position and entitlements. It's essential for both private and public companies operating under Irish jurisdiction and should be regularly reviewed to ensure continued compliance with evolving legal requirements.
