Director resignation letter template

When do I use this document?

• for a simple resignation letter
• for a longer form of resignation for use in a negotiated share sale transaction, with a waiver of claims and amounts owed to the resigning director

What are the key features?

• alternative forms of letter – simple and longer form, addressed to the board of directors
• longer form letter includes
• • • confirmation that no amounts are owed to the resigning director by the company
    • confirmation that the resigning director has no claims against the company and a waiver of any potential claims 
• execution and delivery by the resigning director as a deed

What else do I need to know?

A director with an intention to leave can resign from office at any time by written notice to the company.  The Articles may provide for a period of notice, but rarely do so.  If the company has adopted the Model Articles, without amendment, a written resignation will take effect as stated in its terms.

There is no requirement for the company to approve the resignation of a director.  However, it is standard practice for the resignation to be noted at the next meeting of the board of directors.

The company must file the resignation at Companies House within 14 days using form TM01 (if an individual director) or TM02 (if a corporate director).