• Impact date: 1 January 2013

From 1 January 2013, the legal relationship between a director and a ‘listed corporation’ will no longer qualify as an employment contract.

This only applies to listed corporations, which means that directors of non-listed companies can still enter into employment contracts.

Existing employment contracts between a director and a listed corporation and employment contracts which are entered into before 1 July 2012 will not be affected by this legislation.

To bring this legislation into force, the Dutch Senate has adopted the legislative proposal to amend Book 2 of the Dutch Civil Code in connection with the adjustment of rules on corporate governance and supervision in public and private limited companies under Dutch law (NVs and BVs).