0203 178 5361

Director Service Agreement London

Our London (Mayfair and the City) based lawyers are experts in all aspects of director service agreements. If you have a query relating to yours, please do not hesitate to give us a call on 0203 178 5361 or if you'd prefer, click here to contact us by another method.

Are you a director who doesn't have a service agreement? Do you need one? Or do you have one that needs reviewing?

Located in the West End and the City of London, we act for directors and senior executives both in advising on the terms of director's service agreements and their negotiation. We are regularly instructed by senior employees within the financial services sector and are experienced in FSA Handbook and FSA Code related issues.

If you think directors don't need the contractual documentation that employees have, think again! If a company doesn't have written director service agreements with its directors and there is a compensation claim, how will a Court or Tribunal decide what the director is owed (or what obligations they owe) under the following heads:

• Directors' fees:­ when and how much?
• Bonus:­ when, how much, what targets? Will it be payable if either side gives notice? Is it discretionary and if so to what extent?
• Share options:­ how many, when are they exercisable and at what price? What happens on exit?
• Golden parachutes/hellos:­ how much and when payable ­ and are they recoverable if the director leaves within a certain period?
• Directors and officers insurance:­ is it in place? Are there any restrictions?
• Restrictive covenants:­ is the business protected once the director leaves? Or has it tried to do too much so that the clauses would be void for restraint of trade?
• Notice provisions and garden leave:­ how much notice from either side and can the director be barred from the premises once notice is given?
• PILONs:­ can the director be paid in lieu, and if so does that compensation include all benefits or just base salary?
• Ill health:­ how much sick pay is payable and over what period?
• PHI:­ is the Company making provisions for this and are there any exclusions?
• Confidentiality:­ is the Company's confidential information sufficiently well protected?
• LTIP/MTIP? : is everyone clear on the terms of incentive plans and what must be achieved to require payment of directors' compensation under the plans?

These considerations shouldn't be left to chance or an attempt by the Court to interpret offer letters or verbal discussions. Directors' compensation can be a costly affair if it's not recorded accurately, a business can end up being obliged to pay much more than it expected, and for individual directors themselves, they can find that certain rights they thought they had are unenforceable. 

If you have a question about directors' conpensation/director service agreements, why not speak to our West End London team of specialists. Kervin & Barnes' Mayfair and the City, London lawyers have decades of experience in this area between them, advising directors on joining or leaving businesses, and companies on the best drafting options for dealing with director compensation/director service agreements in London. 

For advice on director service agreements from our London based team of director service agreement experts, call 0203 178 5361 or alternatively, click here to contact us by another method. We have offices in both Mayfair and the City and would be happy to meet with you at either location to advise you on your director service agreement.

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