Advisory Board Agreement Template Word
This form has been created for general information purposes only. They do not constitute legal advice, advertising, solicitation or tax advice. The submission of this form and the information it contains is not intended to establish a customer relationship and its receipt does not constitute justification. You should not rely on this document or such information for any purpose without seeking the legal advice of a duly licensed attorney, including, but not limited to, reviewing and advising on the terms of this form, the appropriate approvals required in connection with the transactions provided for in this form, and any securities laws and other legal matters; which are considered in this form or in the operations provided for in this form. 13.2. Exclusive Consent. This Agreement, including its Annexes, constitutes the sole agreement of the Parties and supersedes all prior oral proceedings and writings relating to the subject matter of this Agreement. An advisory contract must be used between a company and its consultant. The agreement sets out the expectations of the relationship, such as the work done on behalf of the consultant and compensation. The agreement should also include certain key conditions such as confidentiality and attribution of the work product. But before you think about the number of shares or options to issue an advisor, there are a number of points to settle. What role does the consultant play? Will it provide marketing information or advice at the board level? How long should she spend each month and for how long? What is it paid? Establishing these points will help determine the right amount of fairness and ensure that everyone is on the same page in terms of expectations and responsibilities. For American startups, the Founder Institute offers advice on numbers, as well as a free agreement template to eliminate the formal framework of the relationship quickly and without any legal headaches.
You can read their guide and get the American model here. UK Startups To complement the Founder Institute`s resource in this discussion, we have launched the consultative agreement. This free agreement template is UK-friendly and covers the usual big issues – appointment and termination, time commitment, roles and duties, fees, conflicts of interest and confidentiality. Of course, when discussing the arrangement, you may come across other points that you can include (exclude) or make other changes. 2. Damages. In consideration for the services and other obligations to be provided by the Advisor, the Company shall indemnify the Advisor with equity of the type and amount specified in Schedule A, which is subject to an acquisition plan set out in Schedule A and the Agreement to Grant or Issue Equity to the Advisor. If you do not see an email from UpCounsel in the next few minutes, please check your spam box.
Add: noreply@upcounsel.com to your email address book. This will help ensure the future delivery of emails. . 10. Indemnification. The Advisor shall indemnify and hold harmless the Company and its affiliates, employees and agents from and against all liabilities, losses, damages, costs and other expenses (including costs and fees of attorneys and experts) arising out of or in connection with any breach of any representation, warranty, promise or obligation of the Consultant in this Agreement or any wilful misconduct or negligence. of the consultant. In the event of a claim, demand, action or action by a third party, including any claim by a third party that the Advisor is an employee or representative of the Company (a “Claim”) for which the Company (or any of its affiliates, employees or agents) is or may have a claim, the Company may, in its sole discretion, require the Counsellor to defend this claim at the Sole expense of the Counsellor. The Consultant cannot agree to settle such a claim without the prior express written consent of the Company.
13.1. Modifications and Waivers. Any provision of this Agreement may only be modified or revoked with the written consent of the Company. This Consultant Agreement (the “Agreement”) is entered into on or after [Date], by and between [Company Name], (the “Company”) and [Consultant Name] (“Consultant”) (each, a “Party” and collectively, the “Parties”). As part of our ongoing initiative to reduce the legal work and documentation that founders have to pay for and design, we are releasing this new document to streamline this process. Previously, we published guidelines on how to issue the right number of shares/options to employees and advisors. As we have seen in this article, sharing fairness with employees and advisors is often used as a motivational tool and as a way to develop a company`s relationship with that person. . 1.1 Advisory Board.
During the term of this Agreement, the Consultant will act as a member of the Company`s Advisory Board (the “Advisory Board”). The Advisory Board is composed of the Councillor and other members appointed by the Society. The Society may adopt a Statute of the Advisory Board, which is consensual with the Society and the members of the Advisory Board. Hire the best business lawyers and save up to 60% on HK Startups legal fees For Hong Kong-based startups, we`ve mapped the consulting agreement to a version suitable for Hong Kong-based startups. The link on the right will take you to the document. .