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Advisory Board Member Agreement

Advisory Board Member Agreement Template for India

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Key Requirements PROMPT example:

Advisory Board Member Agreement

"I need an Advisory Board Member Agreement for a fintech startup in India, with special provisions for equity compensation (2% stock options) and quarterly meetings, starting from March 2025."

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Document background
The Advisory Board Member Agreement is a crucial document used when companies in India seek to formally engage experienced professionals in advisory capacities. This agreement is particularly important for organizations looking to benefit from external expertise while maintaining clear governance structures. It addresses key aspects required under Indian law, including appointment terms, compensation, confidentiality, and intellectual property rights. The document is designed to comply with the Companies Act, 2013, and other relevant Indian legislation, while providing flexibility to accommodate specific industry requirements. Companies typically use this agreement when establishing advisory boards for strategic guidance, technical expertise, or industry insights, ensuring clear delineation of roles, responsibilities, and expectations for all parties involved.
Suggested Sections

1. Parties: Identifies the company and the advisory board member, including their full legal names and addresses

2. Background: Explains the context of the appointment, the company's desire to engage the advisor, and the advisor's qualifications

3. Definitions: Defines key terms used throughout the agreement for clarity and precision

4. Appointment and Term: Specifies the role, appointment date, and duration of the advisory position

5. Duties and Responsibilities: Details the specific advisory services, meeting attendance requirements, and time commitments expected

6. Compensation: Outlines the fees, payment terms, and any other financial benefits provided for services

7. Confidentiality: Defines confidential information and establishes obligations for maintaining confidentiality

8. Intellectual Property: Addresses ownership and rights to any intellectual property created during the advisory relationship

9. Independence and Non-Employment Status: Clarifies that the advisor is an independent contractor, not an employee

10. Termination: Specifies conditions and procedures for ending the advisory relationship

11. General Provisions: Includes standard legal clauses such as governing law, notices, and entire agreement

Optional Sections

1. Equity Compensation: Include when the advisor will receive stock options or other equity-based compensation

2. Non-Compete: Include when the company requires competitive restrictions, ensuring compliance with Indian competition laws

3. Investment Rights: Include when the advisor is granted rights to participate in future investment rounds

4. Expense Reimbursement: Include when the advisor will be reimbursed for expenses incurred in performing duties

5. Insurance Coverage: Include when the company provides liability insurance or indemnification for the advisor

6. Technical Advisory Provisions: Include when the advisor provides specific technical expertise requiring detailed scope

7. Conflict Resolution: Include when parties want to specify mediation or arbitration procedures

Suggested Schedules

1. Schedule A - Scope of Services: Detailed description of specific advisory services and deliverables expected

2. Schedule B - Compensation Details: Detailed breakdown of fees, payment schedule, and any performance-based compensation

3. Schedule C - Meeting Schedule: Expected frequency and format of advisory board meetings

4. Appendix 1 - Confidentiality Agreement: Detailed confidentiality terms and procedures

5. Appendix 2 - Equity Compensation Terms: If applicable, detailed terms of any equity-based compensation

6. Appendix 3 - Company Policies: Relevant company policies applicable to advisory board members

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


























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Relevant Industries

Technology

Healthcare

Financial Services

Manufacturing

Education

Consulting

Real Estate

Telecommunications

Energy

E-commerce

Biotechnology

Professional Services

Non-profit Organizations

Media and Entertainment

Research and Development

Relevant Teams

Legal

Corporate Secretarial

Board Relations

Compliance

Human Resources

Corporate Governance

Executive Office

Corporate Affairs

Finance

Strategy

Relevant Roles

CEO

Managing Director

Company Secretary

Legal Counsel

General Counsel

Board Secretary

Corporate Governance Officer

Compliance Officer

Chief Financial Officer

Head of Human Resources

Chief Strategy Officer

Board Relations Manager

Corporate Affairs Director

Legal Operations Manager

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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