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Board Of Advisor Agreement
"I need a Board of Advisor Agreement for our Irish fintech startup, where the advisor will provide strategic guidance on AI implementation and receive both cash compensation and stock options, with the engagement starting January 2025."
1. Parties: Identifies the company and the advisor, including their full legal names and addresses
2. Background: Explains the context of the agreement, the company's desire to engage the advisor, and the advisor's qualifications
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Term: Establishes the advisor's role, appointment to the advisory board, and the duration of the engagement
5. Services and Duties: Details the specific advisory services to be provided and the advisor's responsibilities
6. Time Commitment: Specifies the expected time commitment, including meeting attendance and availability
7. Compensation: Outlines the advisor's compensation, including fees, expenses, and any equity compensation
8. Independent Contractor Status: Clarifies that the advisor is an independent contractor, not an employee
9. Confidentiality: Details confidentiality obligations and handling of company information
10. Intellectual Property: Addresses ownership and rights to any IP created during the advisory relationship
11. Conflicts of Interest: Establishes guidelines for avoiding and disclosing potential conflicts
12. Termination: Specifies how and when either party can terminate the agreement
13. General Provisions: Standard legal provisions including governing law, notices, and entire agreement
1. Equity Compensation: Detailed terms for stock options or other equity-based compensation, used when equity is part of the compensation package
2. Non-Competition: Restrictions on competing activities, used when the advisor has access to sensitive competitive information
3. Data Protection: Specific GDPR compliance provisions, used when the advisor will handle personal data
4. Insurance: Requirements for professional liability insurance, used when advisory services carry significant risks
5. Regulatory Compliance: Special provisions for regulated industries, used when the company operates in a regulated sector
6. Board Observer Rights: Terms for attending board meetings, used when the advisor will have board observation privileges
7. Indemnification: Provisions for protecting the advisor against claims, used when requested by the advisor
8. Special Industry Requirements: Industry-specific provisions, used when the company operates in specialized sectors
1. Schedule A - Services Description: Detailed outline of the specific advisory services to be provided
2. Schedule B - Compensation Terms: Detailed breakdown of all compensation elements, including payment terms and schedules
3. Schedule C - Meeting Schedule: Expected meeting dates, times, and formats for advisory board meetings
4. Schedule D - Equity Terms: Details of any equity compensation, including vesting schedules and terms
5. Appendix 1 - Confidential Information: Specific types of confidential information covered by the agreement
6. Appendix 2 - Conflict Disclosure Form: Template for disclosing potential conflicts of interest
7. Appendix 3 - Expense Policy: Guidelines for submitting and receiving reimbursement for expenses
Authors
Technology
Financial Services
Healthcare
Manufacturing
Professional Services
Renewable Energy
Biotechnology
E-commerce
Education
Real Estate
Telecommunications
Software Development
Consulting
Retail
Media and Entertainment
Legal
Corporate Governance
Executive
Board of Directors
Compliance
Human Resources
Finance
Company Secretariat
Strategic Planning
Administrative
Chief Executive Officer
Company Secretary
Chief Legal Officer
General Counsel
Board Chairman
Corporate Governance Director
Legal Counsel
Compliance Officer
Chief Financial Officer
Head of Strategy
Board Advisor
Non-Executive Director
Corporate Secretary
HR Director
Chief Operations Officer
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