An agreement bringing on an advisor in exchange for equity — time commitment, vesting, and confidentiality.
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This Startup Advisor Agreement ("Agreement") is entered into as of [Effective Date] between [Company Name] ("Company") and [Advisor Name] ("Advisor").
Advisor agrees to provide advice and introductions in the area of [Area of Expertise], for approximately [Number] hours per month, as reasonably requested by Company.
In exchange for the Services, Company will grant Advisor an option to purchase [Number/Percentage] of Company’s equity, subject to approval by Company’s board and the terms of Company’s equity incentive plan.
Advisor’s equity vests over [Number] years (commonly 2), with a [Number]-month cliff, after which it vests [monthly / quarterly], provided Advisor continues providing Services.
Advisor agrees to keep Company’s confidential and proprietary information confidential, both during and after this engagement, and to use it solely to provide the Services.
Advisor is an independent advisor, not an employee, officer, or agent of Company, and has no authority to bind Company to any obligation.
This Agreement does not guarantee any particular business outcome, investment, or introduction result.
This Agreement continues until terminated by either party with [Number] days’ written notice. Vesting stops as of the termination date; already-vested equity is retained by Advisor subject to Company’s equity plan.
This Agreement is governed by the laws of the State of [State / Jurisdiction].
Advisor Signature: _______________________ Date: _______________
Company Representative Signature: _______________________ Date: _______________