| 单词 | service contract |
| 释义 | service contract service contract(service agreement) A contract between an employer and a director or other very senior employee. Service contracts must be kept at the registered office of a company and be open to inspection by members of the company. The Companies Act 2006 prohibits service contracts that give an employee guaranteed employment for more than five years, without the company having an opportunity to break the employment as and when it needs to. This measure prevents directors with long service agreements from suing companies for loss of office in the event of a takeover or reorganization. The 2006 Act also broadened the definition of a service contract to include a contract for services as well as a contract of employment. See alsocompensation for loss of office; golden parachute. |
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