Advisory Board Member AgreementAn Advisory Board Member Agreement allows you to engage an advisor for your business. It gives you the option to offer either financial compensation or equity in exchange for advice.
You can use your Advisory Board Member Agreement to engage an advisor for your business. A board of advisors can help in hearing out ideas or playing devil's advocate for key decisions. This way you can ensure that any decisions you make in the course of your business are well-advised. The assistance of an advisor can help you make better, more effective, lower risk decisions for your business.
What does the Advisory Board Member Agreement cover?
Services to be provided;
Term and commencement date;
Minimum hours of service;
Advisor fee, advisor equity and vesting arrangements;
Independence of advisor, expenses, GST and responsibilities of advisor; and
Termination, IP, confidentiality and assignment.
Other names for Advisory Board Member Agreement include:
Advisor's Agreement; and