Phoenix Arizona Agreement Between Board Member and Close Corporation

• Category: Contracts - Board Member
• State: Multi-State
• City: Phoenix
• Control #: US-1035BG
• Format: Word; Rich Text

Description

A corporation whose shares are held by a single shareholder or a closely-knit group of shareholders (such as a family) is known as a close corporation. The shares of stock are not traded publicly. Many of these types of corporations are small firms that in the past would have been operated as a sole proprietorship or partner¬ship, but have been incorporated in order to obtain the advantages of limited liability or a tax benefit or both. A disclaimer is a denial or renunciation of liability. A disclaimer may apply to a denial of responsibility for another's claim and/or may be a statement of non-responsibility. A Phoenix Arizona Agreement Between Board Member and Close Corporation is a legal document that outlines the terms and conditions agreed upon between a board member and a close corporation based in Phoenix, Arizona. This agreement serves as a binding contract between both parties, ensuring a clear understanding of their rights, responsibilities, and obligations. Keywords: Phoenix Arizona Agreement, Board Member, Close Corporation, Legal Document, Terms and Conditions, Binding Contract, Rights, Responsibilities, Obligations. Different types of Phoenix Arizona Agreements Between Board Member and Close Corporation may include: 1. Standard Board Member Agreement: This type of agreement delineates the general terms and conditions applicable to all board members of the close corporation. It outlines the board member's role, fiduciary duties, compensation, meeting schedules, decision-making processes, and the corporation's expectations from the board member. 2. Executive Board Member Agreement: This agreement specifically caters to executive board members who hold senior positions within the corporation. It focuses on additional responsibilities, authority, performance benchmarks, and specific goals tailored to the executive role. 3. Advisory Board Member Agreement: Close corporations may seek the services of external advisors who play crucial roles in providing specialized guidance and expertise. This agreement defines the scope of the advisory board member's involvement, compensation, confidentiality, intellectual property rights, and their unique responsibilities. 4. Independent Contractor Agreement: In certain cases, a close corporation might engage a board member as an independent contractor rather than a formal employee. This agreement establishes the terms of the contractor's engagement, payment structure, intellectual property ownership, confidentiality, and any specific deliverables expected. 5. Non-Disclosure Agreement (NDA): An NDA is often incorporated into the Agreement Between Board Member and Close Corporation to protect confidential information shared during the board member's tenure. It outlines the board member's obligation to maintain confidentiality and may include provisions related to non-competition and non-solicitation. In conclusion, a Phoenix Arizona Agreement Between Board Member and Close Corporation is a comprehensive legal document that governs the relationship between the board member and the close corporation. It is vital to tailor the agreement to suit the specific roles and responsibilities of the board member and ensure legal compliance while safeguarding the interests of both parties.

A Phoenix Arizona Agreement Between Board Member and Close Corporation is a legal document that outlines the terms and conditions agreed upon between a board member and a close corporation based in Phoenix, Arizona. This agreement serves as a binding contract between both parties, ensuring a clear understanding of their rights, responsibilities, and obligations. Keywords: Phoenix Arizona Agreement, Board Member, Close Corporation, Legal Document, Terms and Conditions, Binding Contract, Rights, Responsibilities, Obligations. Different types of Phoenix Arizona Agreements Between Board Member and Close Corporation may include: 1. Standard Board Member Agreement: This type of agreement delineates the general terms and conditions applicable to all board members of the close corporation. It outlines the board member's role, fiduciary duties, compensation, meeting schedules, decision-making processes, and the corporation's expectations from the board member. 2. Executive Board Member Agreement: This agreement specifically caters to executive board members who hold senior positions within the corporation. It focuses on additional responsibilities, authority, performance benchmarks, and specific goals tailored to the executive role. 3. Advisory Board Member Agreement: Close corporations may seek the services of external advisors who play crucial roles in providing specialized guidance and expertise. This agreement defines the scope of the advisory board member's involvement, compensation, confidentiality, intellectual property rights, and their unique responsibilities. 4. Independent Contractor Agreement: In certain cases, a close corporation might engage a board member as an independent contractor rather than a formal employee. This agreement establishes the terms of the contractor's engagement, payment structure, intellectual property ownership, confidentiality, and any specific deliverables expected. 5. Non-Disclosure Agreement (NDA): An NDA is often incorporated into the Agreement Between Board Member and Close Corporation to protect confidential information shared during the board member's tenure. It outlines the board member's obligation to maintain confidentiality and may include provisions related to non-competition and non-solicitation. In conclusion, a Phoenix Arizona Agreement Between Board Member and Close Corporation is a comprehensive legal document that governs the relationship between the board member and the close corporation. It is vital to tailor the agreement to suit the specific roles and responsibilities of the board member and ensure legal compliance while safeguarding the interests of both parties.