tiktok³ÉÈË°æ

The Board of Advisor Agreement is essential for companies operating in India that seek to formally engage experienced professionals in advisory capacities. This document is particularly relevant when companies need specialized expertise, industry insights, or strategic guidance without creating a formal board position. The agreement, governed by Indian law, typically includes comprehensive terms covering appointment, services, compensation, confidentiality, and fiduciary duties, ensuring compliance with the Companies Act, 2013 and other relevant Indian legislation. It's commonly used by startups, growing companies, and established organizations looking to enhance their strategic decision-making through external expertise while maintaining clear boundaries and expectations in the advisory relationship.

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 for clarity and precision

4. Appointment and Term: Specifies the appointment of the advisor, role title, and duration of the engagement

5. Scope of Services: Details the advisory services to be provided, including specific responsibilities and expectations

6. Time Commitment: Specifies the expected time commitment, including meeting attendance and availability

7. Compensation: Details the advisor's fees, payment terms, and reimbursement of expenses

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

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

10. Fiduciary Duties and Conflicts: Outlines the advisor's fiduciary responsibilities and process for handling potential conflicts of interest

11. Representations and Warranties: Contains standard representations from both parties regarding their capacity and authority

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

13. Indemnification: Details mutual indemnification obligations and liability limitations

14. General Provisions: Contains standard boilerplate clauses including notices, amendments, governing law, etc.