Protect your company with our template advisor agreement. This agreement was drafted by startup attorneys for startups using clauses that reflect experience dealing with startup advisor issues (most often equity grants).
Advisor Agreement
• Automatically terminates if the advisor has not provided services in the last 90 days (can modify) for any reason. This prevents equity from continuing to vest when the advisor has been flakey or the company really doesn't need the advisor's services (but forgets to terminat the agreement, which happens all the time).
• Protections the company's confidential information.
• Advisor assigns all intellectual property created for the company.
• Company can promote the advisor in the company's pitch deck and website.
• Advisor must immediately notify the company if he/she/they plan to start providing services to a company competitor.
• Advisor cannot solicit customers or employees of the company during the services and for 2 years thereafter.