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Startup Advisor Equity Agreement
"I need a Startup Advisor Equity Agreement for a technical advisor who will help with our AI product development, offering 1% equity vesting over 2 years with a 6-month cliff, including strong IP protection clauses since they'll have access to our core technology."
1. Parties: Identification of the Company and the Advisor, including full legal names and addresses
2. Background: Context of the agreement, including the company's desire to engage the advisor and the advisor's qualifications
3. Definitions: Key terms used throughout the agreement, including 'Services', 'Shares', 'Vesting Period', etc.
4. Appointment and Services: Formal appointment of advisor and detailed description of advisory services to be provided
5. Term and Termination: Duration of the advisory relationship and conditions for termination
6. Equity Compensation: Details of equity grant, including number of shares or options, vesting schedule, and exercise price if applicable
7. Vesting Terms: Specific vesting conditions, cliff period, and acceleration provisions
8. Confidentiality: Obligations regarding confidential information and trade secrets
9. Intellectual Property: Assignment and protection of IP rights related to advisory services
10. Independent Contractor Status: Clarification that advisor is an independent contractor, not an employee
11. Representations and Warranties: Standard representations from both parties regarding capacity and authority
12. General Provisions: Standard legal provisions including governing law, notices, and amendment procedures
1. Non-Competition: Restrictions on advisor's involvement with competing businesses, used when advisor has access to sensitive competitive information
2. Non-Solicitation: Restrictions on soliciting company employees or customers, used when advisor has significant contact with key stakeholders
3. Board Observer Rights: Rights to attend board meetings, used for senior advisors with strategic involvement
4. Expense Reimbursement: Terms for reimbursing advisor expenses, used when travel or other expenses are anticipated
5. Additional Services: Framework for engaging advisor for services beyond standard advisory role, used when additional consulting work is likely
6. Equity Top-Up Provisions: Terms for additional equity grants based on performance, used for long-term advisory relationships
1. Schedule A - Advisory Services: Detailed description of specific advisory services, expectations, and time commitments
2. Schedule B - Equity Terms: Detailed terms of equity compensation, including vesting schedule and any conditions
3. Schedule C - Confidentiality Agreement: Comprehensive confidentiality terms and requirements
4. Appendix 1 - Share Option Agreement: Standard form of share option agreement if options are being granted
5. Appendix 2 - IP Assignment: Formal intellectual property assignment documentation
6. Appendix 3 - Accredited Investor Certificate: Required documentation for securities law compliance
Authors
Technology
Software Development
Biotechnology
Clean Technology
Financial Technology
E-commerce
Digital Media
Healthcare Technology
Artificial Intelligence
Blockchain
Consumer Internet
Enterprise Software
Manufacturing Technology
Educational Technology
Legal
Executive Leadership
Human Resources
Finance
Corporate Development
Board of Directors
Corporate Governance
Operations
CEO
Founder
Co-founder
Chief Legal Officer
General Counsel
Corporate Secretary
Board Member
Chief Financial Officer
VP of Operations
Director of Human Resources
Startup Advisor
Industry Expert
Technical Advisor
Strategic Advisor
Financial Advisor
Marketing Advisor
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