Bestyrelseskontrakter – en retlig analyse og en praktisk anvisning

A board contract is a relatively new type of document introduced in Danish corporate law. Its purpose is to establish the framework for future cooperation. The Companies Act does not mention these contracts, but it does regulate the rules governing board work. This raises the question of the legal status of these contracts. The article provides a legal qualification of the board contract in relation to the law and other corporate legal documents, analyzing who can be a party to the agreement. The article also examines which elements can be legally binding and which are merely non-binding intentions. Based on an examination of the practical use of board contracts, it is concluded that there is a need for further clarification of the framework for board work in the SME segment. It is also concluded that for each specific point, it is necessary to assess who should be a party to the agreement, as well as whether it is a legally binding contract or just an expression of intent. Based on the conclusions mentioned, the article provides guidance on how to draft a board contract.