Having a Board of Directors Agreement in place is crucial for defining the responsibilities, rights, and expectations of board members within an organization.
Whether you’re forming a new board or updating an existing agreement, our Board of Directors Agreement Template provides a solid foundation.
This free, editable corporate governance agreement outlines key provisions such as appointment terms, compensation, confidentiality, and removal procedures.
Best of all, you can instantly access and customize the template using Google Docs—no downloads or paid subscriptions required.
Why Use a Board of Directors Agreement?
A Board of Directors Agreement ensures that all board members understand their roles, responsibilities, and obligations.
It also helps protect the company by establishing guidelines for decision-making, conflicts of interest, and legal indemnification.
Some key benefits of having a formal agreement include:
- Clearly defining the roles and responsibilities of board members
- Establishing a structured process for board meetings and decision-making
- Protecting confidential company information
- Ensuring compliance with corporate governance best practices
- Outlining compensation and expense reimbursement policies
- Providing legal protection through indemnification clauses
What’s Included in This Board of Directors Agreement Template?
This Board Member Contract covers essential terms that govern the relationship between the company and its directors.
Below are the key sections included in the template:
- Appointment and Term: Defines the duration of a director’s service and conditions for renewal.
- Roles and Responsibilities: Outlines expectations for participation, decision-making, and fiduciary duties.
- Meetings: Specifies the frequency and format of board meetings.
- Compensation: Details payment structures and reimbursement policies.
- Conflicts of Interest: Establishes disclosure requirements and procedures for handling conflicts.
- Confidentiality: Protects non-public company information from unauthorized disclosure.
- Removal of Directors: Describes the process for removing board members with or without cause.
- Indemnification: Ensures that directors are legally protected for actions taken in their official capacity.
- Amendments: Provides guidelines for modifying the agreement.
- Governing Law: Specifies the applicable state laws that will govern the agreement.
Who Can Use This Template?
This template is ideal for:
- Startups and small businesses forming their Board of Directors
- Nonprofits and associations needing a structured executive board contract
- Established corporations updating their board resolution template
- Any organization that wants to strengthen its corporate governance agreement
Legal Considerations
While this template provides a strong starting point, it is always recommended to consult with legal professionals to ensure compliance with state laws and specific corporate regulations.
This is especially important for companies operating in multiple jurisdictions, as governance requirements may vary.
Get Your Free Board of Directors Agreement Template Now
Getting started is simple. Click the “Get this template” button to preview the document in Google Docs.
Then, click “USE TEMPLATE” to make a copy and start editing. You can customize the template to fit your company’s specific requirements, such as adjusting director terms, meeting schedules, and compensation policies.
Don’t waste time drafting an agreement from scratch. Use this professionally designed Board of Directors Agreement Template to create a legally sound contract for your board members.
Click the “Get this template” button to access your free copy and start customizing it today!