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A Director Agreement sets out the legal relationship between a company and its board member in Nigeria, spelling out their rights, duties, and compensation. It's a critical contract that protects both parties by clearly defining the director's role, including their responsibilities under the Companies and Allied Matters Act (CAMA).

These agreements typically cover key areas like confidentiality, conflicts of interest, board meeting attendance requirements, and termination conditions. They're especially important for listed companies on the Nigerian Stock Exchange, where director conduct directly impacts corporate governance and shareholder confidence. The agreement also helps companies comply with Securities and Exchange Commission regulations.

Use a Director Agreement when bringing new members onto your board, especially for Nigerian companies expanding their leadership or transitioning from private to public status. This contract becomes essential during critical moments like preparing for an IPO, restructuring the board, or when recruiting high-profile directors who need clear terms of engagement.

The agreement proves particularly valuable when your company faces increased regulatory scrutiny, needs to demonstrate strong corporate governance to investors, or must protect sensitive information. For companies regulated by CAMA or listed on the Nigerian Stock Exchange, having these agreements in place helps meet compliance requirements and establishes clear accountability frameworks.

• Executive Director Employment Contract: Details terms for full-time executive directors who manage daily operations
• Managing Director Contract Of Employment: Specialized agreement for the company's top executive position with enhanced authority
• Nominee Director Agreement: Used when appointing representatives to act on behalf of specific shareholders or interests
• Directors Loan Agreement: Governs financial arrangements between directors and the company
• Agreement Between Directors Of A Company: Establishes mutual understanding and responsibilities among board members

• Board of Directors: Primary signatories who must understand and comply with the agreement's terms, including fiduciary duties and governance responsibilities
• Company Secretary: Maintains records, ensures compliance with CAMA requirements, and often coordinates the drafting process
• Corporate Legal Counsel: Drafts and reviews agreements to protect company interests and ensure alignment with Nigerian corporate law
• Shareholders: Key stakeholders whose interests are protected through director obligations outlined in the agreement
• Regulatory Bodies: Including the Corporate Affairs Commission and SEC, who oversee compliance with governance standards

• Director Details: Gather full legal name, address, qualifications, and any existing roles in other companies
• Company Information: Compile registration number, registered office address, and board resolution approving the appointment
• Role Specifics: Define exact position, duties, meeting attendance requirements, and reporting structure
• Compensation Package: Document all forms of remuneration, including fees, allowances, and benefits
• Legal Requirements: Check CAMA compliance and SEC regulations for listed companies
• Document Generation: Use our platform to create a customized, legally-sound agreement that meets Nigerian corporate law standards

• Identification Details: Full names of director and company, registration numbers, and appointment date
• Role Definition: Specific duties, powers, and scope of authority under CAMA guidelines
• Term and Tenure: Duration of appointment, renewal conditions, and termination procedures
• Remuneration Terms: Detailed breakdown of fees, benefits, and expense reimbursement policies
• Confidentiality Provisions: Protection of company secrets and intellectual property
• Conflict Resolution: Dispute settlement procedures and applicable Nigerian law references
• Regulatory Compliance: SEC requirements and corporate governance obligations
• Execution Requirements: Signature blocks, witness provisions, and company seal placement

A Director Agreement differs significantly from a Director Services Agreement in several key aspects under Nigerian law. While both documents govern relationships with directors, their scope and application serve distinct purposes.

• Scope of Authority: Director Agreements establish broad governance rights and responsibilities as board members, while Director Services Agreements focus specifically on professional services rendered to the company
• Duration and Commitment: Director Agreements typically align with board terms and corporate governance cycles, whereas Service Agreements often cover specific projects or consultancy periods
• Fiduciary Obligations: Director Agreements include comprehensive fiduciary duties under CAMA, while Service Agreements emphasize deliverables and performance metrics
• Regulatory Compliance: Director Agreements must meet stricter SEC and corporate governance requirements, particularly for listed companies