Disclaimer
The information provided here is intended solely as a general example for understanding arrangements between startup founders and advisors. It is not legal advice and should not replace consulting a qualified attorney with expertise in corporate governance or contract law. Jurisdictional laws and regulations vary, and adjustments may be necessary to ensure compliance. The use of this example is at the user’s own risk, and no liability is assumed for errors, omissions, or consequences resulting from its use without professional legal review.
Please note: This is a sample Startup Advisory Board Agreement template, provided for illustrative purposes only. Specific terms may vary depending on the actual agreement and applicable laws.
Startup Advisory Board Agreement Sample
Parties Involved:
Startup: InnovateX Inc.
Address: 123 Innovation Drive, San Francisco, CA 94105
Advisors: [Advisor Names or Titles]
Address: [Advisor Addresses]
Purpose of Agreement:
This agreement sets forth the terms and conditions under which the Advisors will provide strategic advice and guidance to the Startup as a member of the Advisory Board.
Advisor Responsibilities:
Advisors agree to participate in meetings, provide advice, and assist with strategic decisions to support the growth and development of the Startup, in accordance with agreed-upon terms.
Compensation:
Advisors shall receive compensation as set forth in Schedule A, which may include equity, fees, or other benefits, subject to the terms of this agreement.
Term and Termination:
This agreement shall commence on [Start Date] and continue for [Duration], unless terminated earlier by either party with [Notice Period] notice.
Confidentiality & Non-Compete:
Advisors shall maintain confidentiality of all proprietary information and agree not to engage in competing activities during and after the term of this agreement, as further specified herein.
Governing Law:
This agreement shall be governed by the laws of the State of California. Disputes shall be resolved within the jurisdiction of the San Francisco courts.
Additional Provisions:
- Advisors shall disclose any conflicts of interest.
- This agreement may be amended only in writing signed by both parties.
- All obligations regarding confidentiality and non-disclosure shall survive termination.
San Francisco, ______________________
[Name], Authorized Representative (Startup)
[Advisor Name]