Shareholders’ Written Ordinary Resolution to Approve a Director’s Long Term Service Agreement

Under section 188 of the Companies Act 2006, directors’ service contracts with a guaranteed term which is (or maybe) longer than 2 years must be approved by an ordinary resolution of the shareholders of the company. For private companies this can be done with a written ordinary resolution.

Under chapter 2 of Part 13 of the Companies Act 2006, written resolutions can be used by private companies as an alternative to calling a general meeting (to pass almost all resolutions other than to remove a director or an auditor before his term of office has expired). For many private companies it is administratively easier to use a written resolution.

This written resolution uses the same wording as in the template above but for convenience it is in the format of a written resolution that private companies may use when passing the resolution.

The document is in open format. Fields should be completed where indicated. Wording in square brackets is optional and can be deleted or retained according to requirements.

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Shareholders’ Written Ordinary Resolution to Approve a Director’s Long Term Service Agreement is part of Corporate Documents. Just £35.00 + VAT provides unlimited downloads from Corporate Documents for 1 year.