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Board Of Advisor Agreement Template for Ireland

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Key Requirements PROMPT example:

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."

Document background
The Board of Advisor Agreement is essential for Irish companies seeking to formalize relationships with experienced professionals who provide strategic guidance without taking on full board director responsibilities. This document is particularly relevant when companies need specialized expertise, industry insights, or strategic guidance while maintaining compliance with Irish corporate law and EU regulations. The agreement typically includes comprehensive terms covering appointment, services, compensation, confidentiality, and intellectual property rights, while ensuring clear distinction from employment relationships. It's commonly used by scale-ups, established companies entering new markets, and organizations requiring specific domain expertise or industry connections. The document must align with the Companies Act 2014 and other relevant Irish legislation while providing flexibility for both parties.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
































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Relevant Industries

Technology

Financial Services

Healthcare

Manufacturing

Professional Services

Renewable Energy

Biotechnology

E-commerce

Education

Real Estate

Telecommunications

Software Development

Consulting

Retail

Media and Entertainment

Relevant Teams

Legal

Corporate Governance

Executive

Board of Directors

Compliance

Human Resources

Finance

Company Secretariat

Strategic Planning

Administrative

Relevant Roles

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

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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