[{"data":1,"prerenderedAt":517},["ShallowReactive",2],{"document-board-advisor-agreement-D13814":3},{"document":4,"label":21,"preview":11,"thumb":22,"thumb600":23,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":24,"breadcrumb":28,"related":34,"customDescModule":176,"customdescription":6,"mdFm":177,"mdProseHtml":516},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":16,"keywords":15},"BOARD ADVISOR AGREEMENT This Board Advisor Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Company\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [BOARD ADVISOR NAME] (the \"Advisor\"), an individual with their main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, the Advisor has agreed to serve as a board advisor to the Company, and in connection therewith, will be given access to certain confidential and proprietary information; WHEREAS, the Company and the Advisor wish to evidence by this Agreement the manner in which said confidential and proprietary material will be treated. NOW, THEREFORE, it is agreed as follows: NON-DISCLOSURE OF CONFIDENTIAL INFORMATION 1.1 Both Parties understand and agree that the Advisor may have access to the confidential information of the Company. For the purposes of this Agreement, \"Confidential Information\" means proprietary and confidential information about the Company's business or activities. Such information includes all business, financial, technical, and other information marked or designated by the Company as \"confidential\" or \"proprietary.\" Confidential Information also includes information which, by the nature of the circumstances surrounding the disclosure, ought in good faith to be treated as confidential. For the purposes of this Agreement, Confidential Information does not include: Information that is currently in the public domain or that enters the public domain after the signing of this Agreement. Information the Advisor lawfully receives from a third party without restriction on disclosure and without breach of a non-disclosure obligation. Information that the Advisor knew prior to receiving any Confidential Information from the Company. Information that the Advisor independently develops without reliance on any Confidential Information from the Company. 1.2 The Advisor agrees that they will not disclose to any third party or use any Confidential Information disclosed to them by the Company except when expressly permitted in writing by the Company. The Advisor also agrees that they will take all reasonable measures to maintain the confidentiality of all Confidential Information of the Company in their possession or control. TERM 2.1 The term of this Agreement shall commence on [DATE] and shall continue in effect for [NUMBER OF YEARS/MONTHS] from the date of execution by both Parties. TITLE 3.1 The Advisor agrees that all Confidential Information furnished by the Company shall remain the sole property of the Company. 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NOW, THEREFORE, it is agreed as follows: NON-DISCLOSURE OF CONFIDENTIAL INFORMATION Both Parties understand and agree that each Party may have access to the confidential information of the other party. For the purposes of this Agreement, \"Confidential Information\" means proprietary and confidential information about the Disclosing Party's (or it's suppliers') business or activities. Such information includes all business, financial, technical, and other information marked or designated by such Party as \"confidential\" or \"proprietary.\" Confidential Information also includes information which, by the nature of the circumstances surrounding the disclosure, ought in good faith to be treated as confidential. For the purposes of this Agreement, Confidential Information does not include: Information that is currently in the public domain or that enters the public domain after the signing of this Agreement. Information a Party lawfully receives from a third Party without restriction on disclosure and without breach of a non-disclosure obligation. Information that the Receiving Party knew prior to receiving any Confidential Information from the Disclosing Party. Information that the Receiving Party independently develops without reliance on any Confidential Information from the Disclosing Party. Each Party agrees that it will not disclose to any third Party or use any Confidential Information disclosed to it by the other Party except when expressly permitted in writing by the other Party. Each Party also agrees that it will take all reasonable measures to maintain the confidentiality of all Confidential Information of the other Party in its possession or control. TERM The term of this Agreement is [number] of [years/months] from the date of execution by both Parties. TITLE The Receiving Party agrees that all Confidential Information furnished by the Disclosing Party shall remain the sole property of the Disclosing Party. 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Number is [Insert], and its Business License Number is [insert]. Independent Contractor has complied with all Federal, State, and local laws regarding business permits, sales permits, licenses, reporting requirements, tax withholding requirements, and other legal requirements of any kind that may be required to carry out said business and the Scope of Work which is to be performed as an Independent Contractor pursuant to this Agreement. Independent Contractor is or remains open to conducting similar tasks or activities for clients other than the Company and holds themselves out to the public to be a separate business entity. Company desires to engage and contract for the services of the Independent Contractor to perform certain tasks as set forth below. Independent Contractor desires to enter into this Agreement and perform as an independent contractor for the company and is willing to do so on the terms and conditions set forth below. NOW, THEREFORE, in consideration of the above recitals and the mutual promises and conditions contained in this Agreement, the Parties agree as follows: TERMS This Agreement shall be effective commencing [Date], and shall continue until terminated at the completion of the Scope of Work which shall occur no later than [Date] or by either party as otherwise provided herein. STATUS OF INDEPENDENT CONTRACTOR This Agreement does not constitute a hiring by either party. It is the parties intentions that Independent Contractor shall have an independent contractor status and not be an employee for any purposes, including, but not limited to, [laws]. Independent Contractor shall retain sole and absolute discretion in the manner and means of carrying out their activities and responsibilities under this Agreement. This Agreement shall not be considered or construed to be a partnership or joint venture, and the Company shall not be liable for any obligations incurred by Independent Contractor unless specifically authorized in writing. Independent Contractor shall not act as an agent of the Company, ostensibly or otherwise, nor bind the Company in any manner, unless specifically authorized to do so in writing. TASKS, DUTIES, AND SCOPE OF WORK Independent Contractor agrees to devote as much time, attention, and energy as necessary to complete or achieve the following: [Describe]. The above to be referred to in this Agreement as the \"Scope of Work\". It is expected that the Scope of Work will completed by [Date]. Independent Contractor shall additionally perform any and all tasks and duties associated with the Scope of Work set forth above, including but not limited to, work being performed already or related change orders. Independent Contractor shall not be entitled to engage in any activities which are not expressly set forth by this Agreement. The books and records related to the Scope of Work set forth in this Agreement shall be maintained by the Independent Contractor at the Independent Contractor's principal place of business and open to inspection by Company during regular working hours. Documents to which Company will be entitled to inspect include, but are not limited to, any and all contract documents, change orders/purchase orders and work authorized by Independent Contractor or Company on existing or potential projects related to this Agreement. Independent Contractor shall be responsible to the management and directors of Company, but Independent Contractor will not be required to follow or establish a regular or daily work schedule. Supply all necessary equipment, materials and supplies. Independent Contractor will not rely on the equipment or offices of Company for completion of tasks and duties set forth pursuant to this Agreement. Any advice given Independent Contractors regarding the scope of work shall be considered a suggestion only, not an instruction. Company retains the right to inspect, stop, or alter the work of Independent Contractor to assure its conformity with this Agreement. ASSURANCE OF SERVICES Independent Contractor will assure that the following individuals (the \"Key Employees\") will be available to perform, and will perform, the Services hereunder until they are completed (identify by title and name as applicable): [Name of Key Employee, Title] [Name of Key Employee, Title] The Key Employees may be changed only with the prior written approval of the Company, which approval shall not be unreasonably withheld. COMPENSATION Independent Contractor shall be entitled to compensation for performing those tasks and duties related to the Scope of Work as follows: [Describe] Such compensation shall become due and payable to Independent Contractor in the following time, place, and manner: [Describe] NOTICE CONCERNING WITHHOLDING OF TAXES Independent Contractor recognizes and understands that it will receive a [specify tax] statement and related tax statements, and will be required to file corporate and/or individual tax returns and to pay taxes in accordance with all provisions of applicable Federal and State law. Independent Contractor hereby promises and agrees to indemnify the Company for any damages or expenses, including attorney's fees, and legal expenses, incurred by the Company as a result of independent contractor's failure to make such required payments. AGREEMENT TO WAIVE RIGHTS TO BENEFITS Independent Contractor hereby waives and foregoes the right to receive any benefits given by Company to its regular employees, including, but not limited to, health benefits, vacation and sick leave benefits, profit sharing plans, etc. This waiver is applicable to all non-salary benefits which might otherwise be found to accrue to the Independent Contractor by virtue of their services to Company, and is effective for the entire duration of Independent Contractor's agreement with Company. This waiver is effective independently of Independent Contractor's employment status as adjudged for taxation purposes or for any other purpose. Neither this Agreement, nor any duties or obligations under this Agreement may be assigned by either party without the consent of the other. TERMINATION This Agreement may be terminated prior to the completion or achievement of the Scope of Work by either party giving [number] days written notice. Such termination shall not prejudice any other remedy to which the terminating party may be entitled, either by law, in equity, or under this Agreement. NON-DISCLOSURE OF TRADE SECRETS, CUSTOMER LISTS AND OTHER PROPRIETARY INFORMATION Independent Contractor agrees not to disclose or communicate, in any manner, either during or after Independent Contractor's agreement with Company, information about Company, its operations, clientele, or any other information, that relate to the business of Company including, but not limited to, the names of its customers, its marketing strategies, operations, or any other information of any kind which would be deemed confidential, a trade secret, a customer list, or other form of proprietary information of Company. Independent Contractor acknowledges that the above information is material and confidential and that it affects the profitability of Company. ","Independent Contractor Agreement","6",62,"https://templates.business-in-a-box.com/imgs/1000px/independent-contractor-agreement-D160.png","https://templates.business-in-a-box.com/imgs/250px/160.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#160.xml",{"title":6,"description":6},[108],{"label":109,"url":110},"Consultant & Contractors","consulting-contractor-business","independent contractor agreement","/template/independent-contractor-agreement-D160",{"description":114,"descriptionCustom":6,"label":115,"pages":101,"size":9,"extension":10,"preview":116,"thumb":117,"svgFrame":118,"seoMetadata":119,"parents":121,"keywords":128,"url":129},"ASSUMPTION AGREEMENT This Assumption Agreement (the \"Agreement\") is effective [DATE], BETWEEN: [NAME OF THE ORIGINAL BORROWER], (the \"Original Borrower\"), an individual with his main address located at OR a Company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [NAME OF THE NEW BORROWER], (the \"New Borrower\"), an individual with his main address located at OR a Company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [NAME OF THE LENDER], (the \"New Lender\"), an individual with his main address located at OR a Company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, the Original Borrower obtained a mortgage loan (\"Loan\") from [SPECIFY LENDER] (the \"Lender\"), which Loan is secured by the Property [DETAILS OF PROPERTY] (\"Mortgaged Property\"); WHEREAS, the Original Borrower executed a promissory note evidencing the Loan, dated [DATE], in the original principal amount of [PRINCIPAL AMOUNT], payable to the Lender (\"Note\"), and [SPECIFY AGREEMENT] (\"Loan Agreement\") further setting forth the terms of the Loan; WHEREAS, the Original Borrower has transferred or has agreed to transfer all of its right, title, and interest in and to the Mortgaged Property to the New Borrower, and the New Borrower has agreed to assume all of the Original Borrower's rights, obligations, and liabilities created or arising under certain of the Original Loan Agreements; NOW THEREFORE in consideration and as a condition of the Original Borrower, the New Borrower and Lender entering into this Agreement and other valuable considerations, the receipt and sufficiency of which consideration is acknowledged, the Parties agree as follows: ASSUMPTION OF OBLIGATION The New Borrower covenants, promises, and agrees that they will unconditionally assume and be bound by all terms, provisions, and covenants of the [SPECIFY LOAN AGREEMENTS] as if the New Borrower had been the original maker of the Note and Security Instrument. The New Borrower will pay all sums to be paid and perform each and every obligation to be paid or performed by the Original Borrower under and in accordance with the terms and conditions of the Note, Security Instrument, the Loan Agreement and all other Original Loan Agreements assumed by the New Borrower. Notwithstanding the foregoing, however, the New Borrower and the Lender will enter into an Amendment to the Loan Agreement to modify certain terms of the Loan Agreement. ASSUMPTION The New Borrower hereby assumes and agrees to pay all sums due or to become due or owing under the Note, the Security Deed and the other Loan Documents and shall hereafter faithfully perform all of the Original Borrower's obligations under and be bound by all of the provisions of the Loan Documents and assumes all liabilities of the Original Borrower under the Loan Documents as if the New Borrower were an original signatory thereto. The execution of this Assumption Agreement by the New Borrower shall be deemed its execution of the Note, the Security Deed and the other Loan Documents. RELEASE OF ORIGINAL BORROWER The Lender hereby releases on the Effective Date, the Original Borrower from liability under the Loan Documents, other than this Assumption Agreement. MODIFICATION OF [LOAN DOCUMENTS] The Parties in this Agreement agree that the provisions of the [SPECIFY THE LOAN DOCUMENTS AND AGREEMENTS] are modified as set forth in EXHIBIT A to this Assumption Agreement. The New Borrower will execute, acknowledge, and deliver such other documents as the Lender may require documenting the Assumption and to implement the provisions of this Agreement more fully. The failure of the New Borrower to comply with the additional obligations contained in this section will constitute an Event of Default under the Security Instrument, and the Lender will be entitled to exercise all remedies available to it under the terms of the Loan Documents. NEW GUARANTOR On the date of execution of this Agreement, the New Borrower will cause the New Guarantor to execute and deliver to the New Lender the current form of Guaranty (\"Guaranty\") under which the New Guarantor guarantees the full and punctual payment and performance, when due, of certain obligations of the New Borrower in connection with the Loan, as more fully set forth in the Guaranty. The Lender releases the Original Guarantor from all liability under the terms and provisions of the Original Guaranty. If the Lender's release of the Original Borrower is canceled in whole, the release of the Original Guarantor will be correspondingly canceled. EXPENSES","Assumption Agreement","https://templates.business-in-a-box.com/imgs/1000px/assumption-agreement-D13247.png","https://templates.business-in-a-box.com/imgs/250px/13247.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13247.xml",{"title":120,"description":6},"assumption agreement",[122,125],{"label":123,"url":124},"Business Plan Kit","business-plan-kit",{"label":126,"url":127},"Starting a Business","starting-a-business","retainer agreement","/template/retainer-agreement-D13247",{"description":131,"descriptionCustom":6,"label":132,"pages":133,"size":9,"extension":10,"preview":134,"thumb":135,"svgFrame":136,"seoMetadata":137,"parents":139,"keywords":138,"url":147},"EMPLOYMENT AGREEMENT - AT WILL EMPLOYEE This Employment Agreement for \"At Will\" Employee (the \"Agreement\") is made and effective this [DATE], BETWEEN: [EMPLOYEE NAME] (the \"Employee\"), an individual with his main address at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Corporation\"), an entity organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] RECITALS In consideration of the covenants and agreements herein contained and the moneys to be paid hereunder, the Corporation hereby employs the Employee and the Employee hereby agrees to perform services as an employee of the Corporation, on an \"at will\" basis, upon the following terms and conditions: APPOINTMENT The Employee is hereby employed by the Corporation to render such services and to perform such tasks as may be assigned by the Corporation. The Corporation may, in its sole discretion, increase or reduce the duties, or modify the title and job description, of the Employee from time to time, and any such increase, reduction or modification shall not be deemed a termination of this Agreement. ACCEPTANCE OF EMPLOYMENT Employee accepts employment with the Corporation upon the terms set forth above and agrees to devote all Employee's time, energy and ability to the interests of the Corporation, and to perform Employee's duties in an efficient, trustworthy and business-like manner. DEVOTION OF TIME TO EMPLOYMENT The Employee shall devote the Employee's best efforts and substantially all of the Employee's working time to performing the duties on behalf of the Corporation. The Employee shall provide services during the hours that are scheduled by the Corporation management. The Employee shall be prompt in reporting to work at the assigned time. NO CONFLICT OF INTEREST Employee shall not engage in any other business while employed by the Corporation. Employee shall not engage in any activity that conflicts with the Employees duties to the Corporation. Employee shall not provide any service or lend any aid or assistance to any party that competes with the services offered by the Corporation. Employee shall not provide any services to clients or prospective clients of the Corporation outside of the provision of services for the Corporation, whether such services are provided with or without compensation or remuneration. CORPORATION PROPERTY Employee acknowledges and agrees that while employed by the Corporation the Employee may be provided with use of computer equipment and other property of the Corporation. The use and possession of the such items shall be subject to any policies, requirements or restrictions established by the Corporation. Such items may only be used in performance of the Employee's duties for the corporation. On request of the Corporation, the Employee shall immediately deliver any such items to the Corporation. Upon termination of employment, Employee shall have the affirmative duty to return any such item to the Corporation whether a request is made or not. The obligation to return Corporation property shall extend and include any and all work product, client property, proprietary rights, intangible property, and all other property of the corporation regardless of the form or medium. COMPENSATION The Corporation shall pay the Employee such hourly compensation as determined by the Corporation. Payment shall be at the same time as the Corporations usual payroll to other employees. BONUS & BENEFITS Payment of any bonuses shall be at the complete discretion of the Corporation. No guarantee or representation that any bonuses will be paid has been made to the Employee. Standard benefits that are provided to other non-management employees shall be offered to the Employee, subject to the Corporation's policies and the terms and conditions of such benefits. WITHHOLDING All sums payable to Employee under this Agreement will be reduced by all federal, state, local, and other withholdings and similar taxes and payments required by applicable law. QUALIFICATIONS OF EMPLOYEE The employee shall satisfy all of the qualification that are established by the Corporation. TERM OF AGREEMENT There shall be no guaranteed term of employment. Employer acknowledges and agrees that Employee shall be an \"At Will\" Employee and that Employee's employment may be terminated at any time by the Corporation, with or without cause. FEES FROM EMPLOYEE'S WORK The Corporation shall have exclusive authority to determine the fees, or a procedure for establishing the fees, to be charged to clients by the Corporation for services that are provided by the Employee. All sums paid to the Employee or the Corporation in the way of fees, in cash or in kind, or otherwise for services of the Employee, shall, except as otherwise specifically agreed by the Corporation, be and remain the property of the Corporation and shall be included in the Corporation's name in such checking account or accounts as the Corporation may from time to time designate. CLIENTS AND CLIENT RECORDS The Corporation shall have the authority to determine who will be accepted as clients of the Corporation, and the Employee recognizes that such clients accepted are clients of the Corporation and not the Employee. All client records and files of any type concerning clients of the Corporation shall belong to and remain the property of the Corporation, notwithstanding the subsequent termination of the employment. POLICIES AND PROCEDURES The Corporation shall have the authority to establish from time to time the policies and procedures to be followed by the Employee in performing services for the Corporation. This may include, but is not necessarily limited to, employment policies, computer use policies, Internet access policies, email policies, and all other policies, procedures, directives, and mandates established by the Corporation, whether or not in written form or formally adopted. Employee shall abide by the provisions of any contract entered into by the Corporation under which the Employee provides services. Employee shall comply with the terms and conditions of any and all contracts entered by the Corporation. TERMINATION Employee acknowledges and agrees that Employee is an \"at will\" employee of the Corporation. As such, no term of employment is created hereby and employee may be terminated at any time in the sole discretion of the Corporation, whether there exists any cause for termination or not. CREATIONS AND INVENTIONS Employee acknowledges and agrees that any and all work product of the Employee that is conceived or created during the Employee's employment with the Corporation is the exclusive property of the Corporation. This shall include any and all copyrights, trade secrets, confidential information, patents, trademarks, trade dress, ideas, concepts, plans, business plans, business concepts, techniques, inventions, drawings, artwork, logos, graphics, web pages, databases, software, programs, CGI's, plug ins, applications, brochures, inventions, marketing plans and concepts, and all other ideas and work product of the Employee. The Employee acknowledges and agrees that all creations shall be \"works made for hire\" as defined in the [ACT OR CODE]. Notwithstanding the fact that this material may be considered to be a work made for hire, Employee agrees, during Employee's employment and thereafter, which covenant shall survive any termination of the employment relationship, to execute any and all documents requested by the Corporation to confirm the Corporation's ownership and control of all such material, including but not limited to assignments of copyright, confirmations of work for hire status, waivers of proprietary rights, copyright application, and any other documents requested by Corporation. RESTRICTIVE COVENANTS","Employment Agreement_At Will Employee","7","https://templates.business-in-a-box.com/imgs/1000px/employment-agreement_at-will-employee-D541.png","https://templates.business-in-a-box.com/imgs/250px/541.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#541.xml",{"title":138,"description":6},"employment agreement_at will employee",[140,143,146],{"label":141,"url":142},"Human Resources","human-resources",{"label":144,"url":145},"Hire an Employee","hire-employee",{"label":18,"url":93},"/template/employment-agreement_at-will-employee-D541",{"description":149,"descriptionCustom":6,"label":150,"pages":151,"size":152,"extension":10,"preview":153,"thumb":154,"svgFrame":155,"seoMetadata":156,"parents":157,"keywords":161,"url":162},"EMPLOYMENT AGREEMENT FOR AN EXECUTIVE This Employment Agreement for an Executive (the \"Agreement\") is made and effective this [Date], BETWEEN: [EXECUTIVE NAME] (the \"Executive\"), an individual with his main address at: AND: [COMPANY NAME] (the \"Company\"), an entity organized and existing under the laws of the [STATE/PROVINCE], with its head office located at: Recitals In consideration of the covenants and agreements herein contained and the moneys to be paid hereunder, the Company hereby employs the Executive and the Executive hereby agrees to perform services as an Executive of the Company, upon the following terms and conditions: TERM The Company hereby employs Executive to serve as [position] and to serve in such additional or different position or positions as the Company may determine in its sole discretion. The term of employment shall be for a period of [NUMBER] years (\"Employment Period\") to commence on [DATE], unless earlier terminated as set forth herein. The effective date of this Agreement shall be the date first set forth above, and it shall continue in effect until the earlier of: The effective date of any subsequent employment agreement between the Company and the Executive; The effective date of any termination of employment as provided elsewhere herein; or [NUMBER] year(s) from the effective date hereof, provided, that this Employment Agreement shall automatically renew for successive periods of [NUMBER] years each unless either party gives written notice to other that it does not wish to automatically renew this Agreement, which written notice must be received by the other party no less than [NUMBER] days and no more than [NUMBER] days prior to the expiration of the applicable term. Duties and Responsibilities Executive will be reporting to [IDENTIFY]. Within the limitations established by the By-laws of the Company, the Executive shall have each and all of the duties and responsibilities of that position and such other or different duties on behalf of the Company, as may be assigned from time to time by [identify what person or body may assign additional responsibilities]. Location The initial principal location at which Executive shall perform services for the Company shall be [location]. Acceptance of Employment Executive accepts employment with the Company upon the terms set forth above and agrees to devote all Executive's time, energy and ability to the interests of the Company, and to perform Executive's duties in an efficient, trustworthy and business-like manner. Devotion of Time to Employment The Executive shall devote the Executive's best efforts and substantially all of the Executive's working time to performing the duties on behalf of the Company. The Executive shall provide services during the normal business hours of the Company as determined by the Company. Reasonable amounts of time may be allotted to personal or outside business, charitable and professional activities and shall not constitute a violation of this Agreement provided such activities do not materially interfere with the services required to be rendered hereunder. QUALIFICATIONS The Executive shall, as a condition of this Agreement, satisfy all of the qualification that are reasonably and in good faith established by the Board of Directors. Compensation Base Salary Executive shall be paid a base salary (\"Base Salary\") at the annual rate of [salary], payable in bi-weekly installments consistent with Company's payroll practices. The annual Base Salary shall be reviewed on or before [DATE] of each year, unless Executive's employment hereunder shall have been terminated earlier pursuant to this Agreement, starting on [agreed upon date] by the Board of Directors of the Company to determine if such Base Salary should be increased for the following year in recognition of services to the Company. In consideration of the services under this Agreement, Executive shall be paid the aggregate of basic compensation, bonus and benefits as hereinafter set forth. Payment Payment of all compensation to Executive hereunder shall be made in accordance with the relevant Company policies in effect from time to time, including normal payroll practices. Bonus From time to time, the Company may pay to Executive a bonus out of net revenues of the Company. Payment of any bonus compensation shall be at the sole discretion of the Board of Directors or the Executive committee of the Board of Directors and the Executive shall have no entitlement to such amount absent a decision by the Company as aforesaid to make such bonus compensation. Executive shall also be entitled to a bonus determined as follows: [DESCRIBE] Benefits The Company shall provide Executive with such benefits as are provided to other senior management Of the Company. Benefits shall include at a minimum (i) paid vacation of [NUMBER] days per year, at such times as approved by the Board of Directors, (ii) health insurance coverage under the same terms as offered to other Executives of the Company, (iii) retirement and profit sharing programs as offered to other Executives of the Company, (iv) paid holidays as per the Company's policies, and (v) such other benefits and perquisites as are approved by the Board of Directors. The Company has the right to modify conditions of participation, terminate any benefit, or change insurance plans and other providers of such benefits in its sole discretion. The Executive shall be reimbursed for out of pocket expenses that are pre-approved by the Company, subject to the Company's policies and procedures therefore, and only for such items that are a necessary and integral part of the Executive's job functions. NonDeductible Compensation In the event a deduction shall be disallowed by the Internal Revenue Service or a court of competent jurisdiction for federal income tax purposes for all or any part of the payment made to Executive by the Company or any other shareholder or Executive of the Company, shall be required by the Internal Revenue Service to pay a deficiency on account of such disallowance, then Executive shall repay to the Company or such other individual required to make such payment, an amount equal to the tax imposed on the disallowed portion of such payment, plus any and all interest and penalties paid with respect thereto. The Company or other party required to make payment shall not be required to defend any proposed disallowance or other action by the Internal Revenue Service or any other state, federal, or local taxing authorities. Withholding All sums payable to Executive under this Agreement will be reduced by all federal, state, local, and other withholdings and similar taxes and payments required by applicable law. Other Employment Benefits Business Expenses Upon submission of itemized expense statements in the manner specified by the Company, Executive shall be entitled to reimbursement for reasonable travel and other reasonable business expenses duly incurred by Executive in the performance of his duties under this Agreement. Benefit Plans Executive shall be entitled to participate in the Company's medical and dental plans, life and disability insurance plans and retirement plans pursuant to their terms and conditions. Executive shall be entitled to participate in any other benefit plan offered by the Company to its Executives during the term of this Agreement (other than stock option or stock incentive plans, which are governed by Section 3(d) below). Nothing in this Agreement shall preclude the Company or any affiliate of the Company from terminating or amending any Executive benefit plan or program from time to time. Vacation Executive shall be entitled to [agreed upon number of time] weeks of vacation each year of full employment, exclusive of legal holidays, as long as the scheduling of Executive's vacation does not interfere with the Company's normal business operations.","Employment Agreement Executive","12",97,"https://templates.business-in-a-box.com/imgs/1000px/employment-agreement_executive-D543.png","https://templates.business-in-a-box.com/imgs/250px/543.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#543.xml",{"title":6,"description":6},[158,159,160],{"label":141,"url":142},{"label":144,"url":145},{"label":18,"url":93},"employment agreement executive","/template/employment-agreement-executive-D543",{"description":164,"descriptionCustom":6,"label":165,"pages":133,"size":166,"extension":10,"preview":167,"thumb":168,"svgFrame":169,"seoMetadata":170,"parents":171,"keywords":174,"url":175},"JOINT VENTURE AGREEMENT This Joint Venture Agreement (the \"Agreement\") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"First Joint Venturer\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [SECOND JOINT VENTURER NAME] (the \"Second Joint Venturer\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] This Agreement is entered by First Joint Venturer and Second Joint Venturer, herein after collectively referred to as the \"Joint Venturers\", for the purpose of performing: [DESCRIBE JOINT VENTURE]. WITNESSETH: WHEREAS, the parties are desirous of forming a Joint Venture (the \"Venture\"), under the laws of the [State/Province] of [STATE/PROVINCE] by execution of this Agreement for the purposes set forth herein and are desirous of fixing and defining between themselves their respective responsibilities, interests, and liabilities in connection with the performance of the before mentioned project; and NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the Parties herein agree to constitute themselves as Joint Venturers, henceforth, \"Venturers\" for the purposes before mentioned, and intending to be legally bound hereby, the parties hereto, after first being duly sworn, do covenant, agree and certify as follows: DEFINITIONS \"Affiliate\" shall refer to (i) any person directly or indirectly controlling, controlled by or under common control with another person, (ii) any person owning or controlling 10% or more of the outstanding voting securities of such other person, (iii) any officer, director or other partner of such person and (iv) if such other person is an officer, director, joint Venturer or partner, any business or entity for which such person acts in any such capacity. \"Venturers\" shall refer to [VENTURE NAME] Inc., and any successor(s) as may be designated and admitted to the Venture. \"Internal Revenue Code\", \"Code\" or \"I.R.C.\" shall refer to the current and applicable Internal Revenue Code. \"Net Profits and Net Losses\" means the taxable income and loss of the Venture, except as follows: [DESCRIBE] The \"Book\" value of an asset shall be substituted for its adjusted tax basis if the two differ, but otherwise Net Profits and Net Losses shall be determined in accordance with federal income tax principles. \"Project\" shall refer to that certain [DESCRIBE] project known as [NAME]. \"Treasury Regulations\" shall refer to those regulations promulgated by the Department of the Treasury with respect to certain provision of Internal Revenue Code. \"Percentage of Participation\" shall refer to that figure set forth in Exhibit A. FORMATION, NAME, AND PRINCIPLE PLACE OF BUSINESS Formation (a) The Venturers do hereby form a joint venture pursuant to the laws of the State of [STATE/PROVINCE] in order for the Venture to carry on the purposes for which provision is made herein. (b) The Ventures shall execute such certificates as may be required by the laws of the [State/Province] of [STATE/PROVINCE] or of any other state in order for the Venture to operate its business and shall do all other acts and things requisite for the continuation of the Venture as a joint venture pursuant to applicable law. Name The Name and style under which the Venture shall be conducted is: [DESCRIBE]. Principal place of business The Venture shall maintain its principal place of business at [FULL ADDRESS]. The Venture may re-locate its office from time to time or have additional offices as the Venturers may determine. PURPOSE OF THE JOINT VENTURE The business of the Venture shall be to perform: [DESCRIBE], a project having the Contract # , being entitled, and being in a dollar amount of [AMOUNT], in accordance with the contract documents for the Project and all such other business incidental to the general purposes herein set forth. TERM The term of the Venture shall commence as of the date hereof and shall be terminated and dissolved upon the earliest to occur of: (i) completion of the Project and receipt of all sums due the Venture by the Owner, [OWNER NAME] pursuant thereto and payment of all laborers and material men employed by the Venture in connection with the project; (ii) [DATE]; (iii) the unanimous agreement of the Ventures; or (iv) the order of a court of competent jurisdiction. PERCENTAGE OF PARTICIPATION Description Except as otherwise provided in sections 6.0 and 9.0 hereof, the interest of the Parties in any gross profits and their respective shares in any losses and/or liabilities that may result from the filing of a joint bid and/or the performance of the Construction Contract, and their interests in all property and equipment acquired and all money received in connection with the performance of the Contract shall be as follows: [Name Joint Venture Partner Percentage] Losses The Parties agree that in the event any losses arise out of or results from the performance of the Project, each Venturer shall assume and pay the share of the losses that is equal to the percentage of participation. Liabilities If for any reason, a Venturer sustains any liabilities or is required to pay any losses arising out of or directly connected with the Project, or the execution of any surety bonds or indemnity agreements in connection therewith, which are in excess of its Percentage of Participation, in the Joint Venture, the other Venturer shall promptly reimburse such Venturer this excess, so that each and every member of the Joint Venturer will then have paid its proportionate share of such losses to the full extent of its Percentage of Participation. Indemnities The Venturers agree to indemnify each other and to hold the other harmless from, any and all losses of the Joint Venture that are in excess of such other Venturer's Percentage of Participation. Provided that the provisions of this subsection shall be limited to losses that are directly connected with or arise out of the performance of the Project and/or the execution of any bonds or indemnity agreements in connection therewith and shall not be relate to or include any incidental, indirect or consequential losses that may be sustained or suffered by a Party. Duration The Parties shall from time to time execute such bonds and indemnity agreements, including applications there and other documents that may be necessary in connection with the performance of the Project. Provided however, that the liability of each of the Parties under any agreements to indemnify a surety company or surety companies shall be limited to the percentage of the total liability assumed by all the Parties under such indemnity agreements that is equal to the Party's Percentage of Participation. Initial contribution of the venture (a) The Venturers shall contribute the Property to the Venture and their Capital Account shall each be credited with the appropriate value of such contribution in accordance with their Venture interests. (b) Except as otherwise required by law or this Agreement, the Venturers shall not be required to make any further capital contributions to the Venture. Venture interests Upon execution of this Agreement, the Venturers shall each own the following interests in the Venture: Joint Venture Partner Percentage Return of capital contributions (a) No Venturer shall have the right to withdraw his capital contributions or demand or receive the return of his capital contributions or any part thereof, except as otherwise provided in this Agreement. (b) The Venturers shall not be personally liable for the return of capital contributions or any part thereof, except as otherwise provided in this Agreement. (c) The Venture shall not pay interest on capital contributions of any Venturer.","Joint Venture Agreement",70,"https://templates.business-in-a-box.com/imgs/1000px/joint-venture-agreement-D889.png","https://templates.business-in-a-box.com/imgs/250px/889.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#889.xml",{"title":6,"description":6},[172,173],{"label":18,"url":93},{"label":18,"url":93},"joint venture agreement","/template/joint-venture-agreement-D889",false,{"seo":178,"reviewer":189,"legal_disclaimer":193,"quick_facts":194,"at_a_glance":196,"personas":200,"variants":224,"glossary":252,"clauses":286,"how_to_fill":337,"common_mistakes":378,"faqs":403,"industries":431,"comparisons":448,"diy_vs_lawyer":460,"jurisdictions":473,"related_template_ids_curated":494,"schema":503,"classification":504},{"meta_title":179,"meta_description":180,"primary_keyword":181,"secondary_keywords":182},"Board Advisor Agreement Template (Free Word)","Free board advisor agreement template covering equity compensation, confidentiality, IP assignment, and term. Used in 190+ countries. Free Word and PDF download.","board advisor agreement template",[183,184,185,186,187,188],"startup advisor agreement","board advisor contract template","advisor agreement template free","advisor equity agreement template","startup advisor contract word","advisory agreement template download",{"name":190,"credential":191,"reviewed_date":192},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":195,"legal_review_recommended":193,"signature_required":193,"notarization_required":176},"medium",{"what_it_is":197,"when_you_need_it":198,"whats_inside":199},"A Board Advisor Agreement is a binding contract between a company and an individual advisor who provides strategic guidance, introductions, or domain expertise in exchange for equity, cash compensation, or both. This free Word download gives you a structured, attorney-reviewed starting point covering scope of services, compensation, confidentiality, IP assignment, and termination — ready to edit online and export as PDF for countersignature.\n","Use it before a new advisor attends their first meeting, makes any introduction, or receives any equity grant. Verbal advisor arrangements regularly end in disputes over vesting schedules, IP ownership, and confidentiality obligations — a signed agreement prevents all three.\n","Advisor duties and time commitment, compensation structure with equity vesting schedule, confidentiality and non-disclosure obligations, IP assignment, conflict-of-interest disclosure, term and termination conditions, and governing law with dispute resolution.\n",[201,205,209,213,217,221],{"title":202,"use_case":203,"icon_asset_id":204},"Startup founders","Formalizing advisor equity grants before a seed or Series A round","persona-startup-founder",{"title":206,"use_case":207,"icon_asset_id":208},"CEOs and managing directors","Onboarding domain experts to an advisory board without employment risk","persona-ceo",{"title":210,"use_case":211,"icon_asset_id":212},"General counsels","Standardizing advisor terms across multiple concurrent engagements","persona-general-counsel",{"title":214,"use_case":215,"icon_asset_id":216},"Board advisors and mentors","Confirming vesting schedule, IP boundaries, and time expectations in writing","persona-board-member",{"title":218,"use_case":219,"icon_asset_id":220},"Venture-backed companies","Satisfying investor due diligence by documenting all equity grants to advisors","persona-investor",{"title":222,"use_case":223,"icon_asset_id":204},"Accelerator program graduates","Retaining program mentors under formal terms post-graduation",[225,229,233,237,240,244,248],{"situation":226,"recommended_template":227,"slug":228},"Bringing on an unpaid advisor compensated solely with equity","Board Advisor Agreement (Equity Only)","board-advisor-agreement-D13814",{"situation":230,"recommended_template":231,"slug":232},"Engaging a paid consultant who also joins an advisory board","Consulting Agreement with Advisory Role","consulting-agreement---long-D12543",{"situation":234,"recommended_template":235,"slug":236},"Appointing a formal board director with governance responsibilities","Board of Directors Agreement","agreement-for-chairman-of-board-of-directors-D852",{"situation":238,"recommended_template":100,"slug":239},"Retaining a subject-matter expert for a single project with no equity","independent-contractor-agreement-D160",{"situation":241,"recommended_template":242,"slug":243},"Establishing a full advisory board charter with multiple advisors","Advisory Board Charter","advisory-board-agreement-D13898",{"situation":245,"recommended_template":246,"slug":247},"Onboarding an advisor with access to sensitive technical IP","Non-Disclosure Agreement","non-disclosure-agreement-nda-D12692",{"situation":249,"recommended_template":250,"slug":251},"Compensating an advisor with a cash retainer instead of equity","Retainer Agreement","retainer-agreement-D13247",[253,256,259,262,265,268,271,274,277,280,283],{"term":254,"definition":255},"Advisor","An individual engaged by a company to provide strategic guidance, introductions, or expertise in a non-employee, non-director capacity.",{"term":257,"definition":258},"Vesting Schedule","The timeline over which an advisor earns their equity grant — commonly 2 years with a 6-month cliff for advisory roles.",{"term":260,"definition":261},"Cliff","The minimum period an advisor must serve before any equity vests — if they leave before the cliff, no shares are earned.",{"term":263,"definition":264},"Option Grant","The right to purchase company shares at a fixed exercise price, typically the fair market value on the grant date, used to compensate advisors without an immediate cash outlay.",{"term":266,"definition":267},"IP Assignment","A clause transferring ownership of any work product, introductions, or developments the advisor creates in connection with their role to the company.",{"term":269,"definition":270},"Conflict of Interest","A situation in which the advisor's personal interests or relationships with third parties — including competitors — could compromise their objectivity.",{"term":272,"definition":273},"Confidential Information","Non-public information the company shares with the advisor — including financials, product roadmaps, and customer data — that the advisor is prohibited from disclosing.",{"term":275,"definition":276},"409A Valuation","An independent appraisal of a private company's common stock fair market value, required by the US IRS to set a defensible exercise price for option grants.",{"term":278,"definition":279},"Acceleration","A provision that causes unvested equity to vest immediately upon a defined trigger — typically a change of control or acquisition of the company.",{"term":281,"definition":282},"At-Will Termination","A contract provision allowing either party to end the advisory relationship at any time, with or without cause, upon written notice.",{"term":284,"definition":285},"SAFE","Simple Agreement for Future Equity — an instrument sometimes used to compensate advisors in very early-stage companies before a priced equity round.",[287,292,297,302,307,312,317,322,327,332],{"name":288,"plain_english":289,"sample_language":290,"common_mistake":291},"Parties, recitals, and effective date","Identifies the company and the advisor as legal parties, states the purpose of the relationship, and records the date the agreement takes effect.","This Board Advisor Agreement ('Agreement') is entered into as of [DATE] ('Effective Date') by and between [COMPANY LEGAL NAME], a [STATE] [ENTITY TYPE] ('Company'), and [ADVISOR FULL NAME] ('Advisor').","Using a trade name instead of the registered legal entity for the company — if the entity name doesn't match cap table records, equity grants may be attributed to the wrong legal person.",{"name":293,"plain_english":294,"sample_language":295,"common_mistake":296},"Scope of services and time commitment","Defines what the advisor is expected to do — attending meetings, making introductions, reviewing materials — and how many hours per month they are committing.","Advisor shall provide advisory services to the Company as reasonably requested, including attending up to [NUMBER] advisory board meetings per year and committing approximately [X] hours per month to Company-related matters.","Leaving the time commitment undefined. Without a stated minimum, an advisor can claim the role without contributing meaningfully, while the company cannot invoke the time-commitment clause to justify early vesting termination.",{"name":298,"plain_english":299,"sample_language":300,"common_mistake":301},"Equity compensation and vesting schedule","States the number of shares or options granted, the exercise price, and the vesting schedule — including the cliff period and the treatment of unvested equity on termination.","The Company shall grant Advisor an option to purchase [NUMBER] shares of Company common stock at an exercise price of $[PRICE] per share, vesting over [24] months with a [6]-month cliff, subject to the terms of the Company's [PLAN NAME] Equity Incentive Plan.","Issuing equity before the 409A valuation is current. In the US, options granted below fair market value trigger immediate ordinary income tax and a 20% excise tax penalty under IRC Section 409A.",{"name":303,"plain_english":304,"sample_language":305,"common_mistake":306},"Cash compensation (if any)","Records any cash retainer, per-meeting fee, or expense reimbursement the advisor will receive in addition to or instead of equity.","In addition to the equity grant, the Company shall pay Advisor a monthly retainer of $[AMOUNT], payable on the [DAY] of each month, together with reimbursement of pre-approved expenses within [30] days of submission.","Omitting an expense reimbursement cap. Advisors who travel to conferences or client meetings can accumulate significant costs — a monthly or annual cap and a pre-approval requirement prevent surprises.",{"name":308,"plain_english":309,"sample_language":310,"common_mistake":311},"Confidentiality","Prohibits the advisor from disclosing or using the company's confidential information — strategy, financials, technology, customer data — during and after the engagement.","Advisor agrees to hold all Confidential Information of the Company in strict confidence and not to disclose or use such information for any purpose other than fulfilling the advisory services, both during and for [3] years after the termination of this Agreement.","Not defining 'Confidential Information' and relying on a blanket 'everything is confidential' approach. Courts apply a reasonableness test — an overbroad definition risks making the entire confidentiality clause unenforceable.",{"name":313,"plain_english":314,"sample_language":315,"common_mistake":316},"Intellectual property assignment","Assigns to the company all work product, ideas, introductions, and developments the advisor creates in connection with the advisory role.","Advisor agrees that all work product, inventions, and developments conceived or created by Advisor in connection with the advisory services are the sole property of the Company and are hereby irrevocably assigned to the Company.","No IP assignment clause at all. An advisor who develops a product concept, sales framework, or technical architecture without an assignment clause may retain personal ownership — creating a dispute at acquisition or funding.",{"name":318,"plain_english":319,"sample_language":320,"common_mistake":321},"Conflict of interest and exclusivity","Requires the advisor to disclose any existing or future relationships with competitors and, if applicable, restricts them from advising competing companies during the engagement.","Advisor represents that Advisor has disclosed all existing material business relationships, including advisory roles, directorships, and equity positions. Advisor shall promptly disclose any future relationship that reasonably constitutes a conflict of interest with the Company's business.","Including a broad exclusivity clause that prevents the advisor from advising any company in a broadly defined space. Most experienced advisors serve multiple companies — excessive restrictions will cause them to decline or breach the agreement.",{"name":323,"plain_english":324,"sample_language":325,"common_mistake":326},"Term and termination","States the initial length of the engagement — typically one to two years — and allows either party to terminate with written notice, with provisions for what happens to vested and unvested equity on exit.","This Agreement shall commence on the Effective Date and continue for [12] months unless earlier terminated. Either party may terminate this Agreement upon [30] days' written notice. Upon termination, vested options shall remain exercisable for [90] days; all unvested options shall be forfeited immediately.","Not specifying the fate of unvested equity on termination. If the agreement is silent, the advisor may claim entitlement to accelerated vesting or argue that equity is a deferred compensation obligation — creating a costly dispute.",{"name":328,"plain_english":329,"sample_language":330,"common_mistake":331},"Independent contractor status","Confirms the advisor is not an employee, agent, or partner of the company, and is not entitled to employee benefits, workers' compensation, or tax withholding.","Advisor is an independent contractor and not an employee, partner, or agent of the Company. The Company shall not withhold taxes on behalf of Advisor. Advisor is solely responsible for all applicable taxes on compensation received under this Agreement.","Treating the advisor as an employee in practice — reimbursing daily expenses, assigning an email address, or integrating them into internal systems — while calling them a contractor. The substance of the relationship, not the label, determines tax and employment classification.",{"name":333,"plain_english":334,"sample_language":335,"common_mistake":336},"Governing law and dispute resolution","Specifies which jurisdiction's law governs the agreement and how disputes are resolved — arbitration, mediation, or litigation.","This Agreement shall be governed by the laws of the State of [STATE], without regard to conflict of law principles. Any dispute arising under this Agreement shall be resolved by binding arbitration administered by [AAA / JAMS] in [CITY], except that either party may seek injunctive relief in any court of competent jurisdiction.","Choosing governing law in a state with no connection to either party. Delaware is a common choice for incorporated companies but may be inconvenient for dispute resolution if neither the company nor the advisor is located there.",[338,343,348,353,358,363,368,373],{"step":339,"title":340,"description":341,"tip":342},1,"Enter the legal entity name and the advisor's full name","Use the company's exact registered corporate name — not a brand or DBA — and the advisor's legal name as it appears on government-issued ID. Record the effective date.","Cross-reference your state or provincial corporate registry to confirm the exact entity name before execution — mismatches create cap table and tax complications.",{"step":344,"title":345,"description":346,"tip":347},2,"Define the scope of services and monthly time commitment","List the specific advisory activities expected — meeting attendance, introductions, product feedback, investor introductions — and state a monthly hour estimate. Two to four hours per month is typical for most advisory roles.","A defined time commitment gives you grounds to terminate for non-performance before the cliff if the advisor goes dark after signing.",{"step":349,"title":350,"description":351,"tip":352},3,"Set the equity grant details","Enter the number of shares or options, the exercise price based on your most recent 409A valuation, the vesting schedule (commonly 2 years with a 6-month cliff), and the name of the equity incentive plan governing the grant.","Issue the option grant on the same day as the agreement — a gap between the agreement date and the grant date can create a mismatch in vesting start dates that requires a plan amendment to fix.",{"step":354,"title":355,"description":356,"tip":357},4,"Complete the cash compensation block, if applicable","If paying a cash retainer or per-meeting fee, enter the amount, payment frequency, and any expense reimbursement cap. If the advisor is equity-only, mark this section as 'None' rather than leaving it blank.","State the currency explicitly for advisors located outside your home jurisdiction to avoid foreign exchange disputes.",{"step":359,"title":360,"description":361,"tip":362},5,"Tailor the confidentiality duration and scope","Set the post-termination confidentiality period — typically 2 to 3 years for most roles. Define 'Confidential Information' to include financials, customer data, product roadmaps, and proprietary technology without being so broad as to cover public knowledge.","Exclude from the definition anything the advisor can demonstrate they knew independently before the engagement — this keeps the clause enforceable and avoids unnecessary disputes.",{"step":364,"title":365,"description":366,"tip":367},6,"Add conflict-of-interest disclosures","Have the advisor list all current advisory roles, directorships, and equity positions in companies that could be considered competitors or in adjacent markets. Attach as a schedule or exhibit to the agreement.","Request an updated disclosure annually — competitive landscapes change, and a new advisory role the advisor picks up in Year 2 may create a material conflict your agreement should address.",{"step":369,"title":370,"description":371,"tip":372},7,"Set the term, termination notice, and post-termination equity treatment","State the initial term (12 or 24 months is standard), the written notice period for termination (30 days is common), the post-termination option exercise window (90 days is typical), and whether any acceleration applies on a change of control.","If the company is pre-Series A, consider including single-trigger acceleration on change of control for advisors — it makes the role more attractive without significant dilution cost.",{"step":374,"title":375,"description":376,"tip":377},8,"Sign before the advisor attends any meeting or receives any equity","Both parties must execute the agreement before the advisor participates in any company activity. Countersignature after any meeting, introduction, or equity issuance weakens the enforceability of the IP assignment and confidentiality clauses.","Use a digital signature platform to timestamp execution and store the fully countersigned copy with your corporate records alongside the corresponding equity plan documents.",[379,383,387,391,395,399],{"mistake":380,"why_it_matters":381,"fix":382},"Issuing equity before a current 409A valuation","Options granted below fair market value are treated as deferred compensation under IRC Section 409A, triggering immediate income tax and a 20% excise tax penalty for the advisor in addition to company reporting obligations.","Commission or update a 409A valuation before issuing any option grant. Most valuation firms turn around an advisory board grant in 5–10 business days.",{"mistake":384,"why_it_matters":385,"fix":386},"Leaving the time commitment undefined","An advisor with no stated minimum commitment can remain on the advisory board indefinitely without contributing, while the company has no contractual basis to terminate vesting for non-performance.","Include a specific monthly or annual hour estimate and a minimum meeting attendance requirement, with a provision that persistent non-performance constitutes grounds for termination.",{"mistake":388,"why_it_matters":389,"fix":390},"No IP assignment clause","An advisor who develops a sales methodology, technical concept, or strategic framework without an assignment clause may retain personal ownership — creating an ownership dispute that surfaces at due diligence.","Include a broad, present-tense IP assignment covering all work product created in connection with the advisory services, regardless of whether it was created on company equipment or time.",{"mistake":392,"why_it_matters":393,"fix":394},"Silent on unvested equity treatment at termination","Without explicit language, a departing advisor may claim the entire grant vests on termination or that unvested shares constitute an accrued obligation — disputes that are expensive to resolve and can cloud a cap table.","State explicitly that all unvested options are forfeited immediately on the termination date, and that vested options must be exercised within a defined window (typically 90 days).",{"mistake":396,"why_it_matters":397,"fix":398},"Overly broad exclusivity restricting experienced advisors","Prohibiting an advisor from advising any company in a loosely defined industry will cause experienced advisors who serve multiple portfolios to decline the role or breach the agreement unknowingly.","Limit the conflict restriction to direct competitors — companies offering the same product to the same customer segment — and require disclosure rather than prohibition for adjacent industries.",{"mistake":400,"why_it_matters":401,"fix":402},"Signing after the advisor has already participated","An advisor who attends meetings, makes introductions, or accesses confidential information before signing the agreement has given no new consideration for the restrictive covenants signed after the fact — potentially voiding the IP assignment and confidentiality clauses.","Execute the agreement before the advisor's first meeting or introduction. If circumstances require a later signature, document a specific new benefit provided as fresh consideration at the time of signing.",[404,407,410,413,416,419,422,425,428],{"question":405,"answer":406},"What is a board advisor agreement?","A board advisor agreement is a binding contract between a company and an individual who provides strategic guidance, introductions, or domain expertise in a non-employee, non-director advisory capacity. It defines the advisor's duties and time commitment, their compensation — typically an equity grant with a vesting schedule — confidentiality obligations, IP assignment, and termination conditions. It protects both the company and the advisor by recording agreed terms before any work begins.\n",{"question":408,"answer":409},"How much equity should an advisor receive?","Typical advisory equity ranges from 0.1% to 0.5% of fully diluted shares for early-stage companies, depending on the advisor's seniority, network value, and expected time commitment. The FAST (Founder/Advisor Standard Template) framework benchmarks advisory grants at 0.25% for a standard role and 0.5% for a strategic role at the idea or seed stage, declining as the company grows. Equity is almost always delivered as options, not restricted stock, to avoid immediate tax events for the advisor.\n",{"question":411,"answer":412},"What vesting schedule is standard for advisors?","The most common advisor vesting schedule is 2 years with a 6-month cliff, meaning no equity vests in the first 6 months and the remaining balance vests monthly over the following 18 months. Some companies use a 1-year monthly vesting schedule with no cliff for shorter-term engagements. A vesting schedule aligned to the advisory term incentivizes continued contribution and gives the company a clean exit if the relationship ends early.\n",{"question":414,"answer":415},"Is a board advisor agreement legally required?","No law requires a written board advisor agreement, but operating without one exposes the company to significant risk. Without a signed agreement, there is no enforceable confidentiality obligation, no IP assignment, no defined vesting schedule, and no clear basis for terminating the relationship. Investors conducting due diligence on a funding round will typically require documentation of all equity grants — including advisory grants — before closing.\n",{"question":417,"answer":418},"What is the difference between a board advisor and a board director?","A board director holds a formal governance seat, has fiduciary duties to the company and its shareholders, votes on major decisions, and carries personal liability for board decisions. A board advisor has no governance authority, owes no fiduciary duty, and cannot vote on company matters. Advisors provide guidance informally; directors govern formally. Most early-stage companies build an advisory board of 3–6 advisors before formalizing a board of directors.\n",{"question":420,"answer":421},"Can an advisor work for a competitor?","Whether an advisor can advise competing companies depends entirely on what the agreement says. Blanket exclusivity provisions — prohibiting any work in a broadly defined industry — are often impractical and will deter experienced advisors who serve multiple portfolios. Best practice is to require disclosure of current and future advisory relationships and prohibit work only for direct competitors offering the same product to the same customer segment, while permitting adjacent or complementary companies with disclosure.\n",{"question":423,"answer":424},"What happens to advisor equity when the company is acquired?","The treatment of unvested advisor equity on acquisition depends on what the agreement says and the terms of the equity plan. Many advisor agreements include a single-trigger acceleration clause — all unvested equity vests immediately upon a change of control. Others require the acquirer to continue the vesting schedule or provide cash settlement. Without an explicit acceleration provision, the acquirer can typically cancel unvested advisor options without compensation.\n",{"question":426,"answer":427},"Do board advisors pay taxes on their equity?","Tax treatment depends on the form of the equity grant and the jurisdiction. In the US, stock options granted at fair market value (as confirmed by a 409A valuation) are not taxable on grant or vesting — the advisor owes income tax only when they exercise and sell. Options granted below fair market value trigger ordinary income tax and a 20% penalty under IRC Section 409A. Advisors should consult a tax advisor before exercising options or receiving restricted stock grants.\n",{"question":429,"answer":430},"How long should an advisory engagement last?","Most board advisor agreements run 1 to 2 years, with the option to renew by mutual agreement. A 12-month initial term with automatic renewal provisions is common for early-stage companies that want flexibility. The term should align with the vesting schedule — an advisor on a 2-year vesting schedule should have at least a 2-year initial term, otherwise the vesting schedule and the contract term create conflicting incentives.\n",[432,436,440,444],{"industry":433,"icon_asset_id":434,"specifics":435},"Technology / SaaS","industry-saas","Technical advisors with domain expertise in AI, cybersecurity, or developer tooling are compensated with option grants from the company's equity incentive plan, subject to a 409A valuation as a prerequisite.",{"industry":437,"icon_asset_id":438,"specifics":439},"Healthcare / MedTech","industry-healthtech","Physician and regulatory advisors often require enhanced confidentiality covering patient data and clinical trial information, along with conflict-of-interest disclosures addressing hospital affiliations and research funding.",{"industry":441,"icon_asset_id":442,"specifics":443},"Financial Services / Fintech","industry-fintech","Advisor agreements in regulated financial services must address compliance obligations, FINRA or FCA registration implications, and restrictions on sharing non-public market or customer data.",{"industry":445,"icon_asset_id":446,"specifics":447},"Consumer Goods / Retail","industry-retail","Advisors with retailer relationships or distribution network access are frequently compensated with a combination of cash retainer and equity, with non-solicitation provisions protecting key retail partnerships.",[449,451,455,457],{"vs":100,"vs_template_id":239,"summary":450},"An independent contractor agreement governs a project-based or ongoing service relationship where the individual delivers defined work product for a fee. A board advisor agreement is relationship-based — the advisor provides guidance, introductions, and judgment rather than deliverables. Advisors are typically compensated with equity; contractors are compensated with cash. Misclassifying a heavily engaged advisor as an independent contractor can create employment law exposure.",{"vs":452,"vs_template_id":453,"summary":454},"Consulting Agreement","consulting-agreement-D156","A consulting agreement defines a scope of work, deliverables, and a fee schedule for professional services. A board advisor agreement defines a strategic relationship with a time commitment and equity compensation but no specific deliverables. Use a consulting agreement when you need defined outputs; use an advisor agreement when you need ongoing strategic access and introductions. Many experienced advisors hold both simultaneously.",{"vs":246,"vs_template_id":247,"summary":456},"An NDA covers confidentiality obligations only — it does not address equity, scope of work, IP assignment, or termination. An advisor agreement includes confidentiality as one of several clauses. Use a standalone NDA for initial conversations before an advisory relationship is formalized; replace it with the full advisor agreement once terms are agreed. The advisor agreement supersedes the NDA for all matters within its scope.",{"vs":235,"vs_template_id":458,"summary":459},"","A board of directors agreement appoints a formal governance director with voting rights, fiduciary duties, and potential personal liability for board decisions. A board advisor agreement creates a non-governing advisory role with no voting rights and no fiduciary obligations. Directors are typically compensated with cash retainers and option grants sized significantly larger than advisor grants, reflecting their governance responsibilities and liability exposure.",{"use_template":461,"template_plus_review":465,"custom_drafted":469},{"best_for":462,"cost":463,"time":464},"Early-stage companies onboarding standard advisors with equity grants under $50K in value","Free","30 minutes",{"best_for":466,"cost":467,"time":468},"Advisors with access to sensitive IP, advisors in regulated industries, or grants exceeding $50K in value","$300–$800","2–5 days",{"best_for":470,"cost":471,"time":472},"High-profile advisors with complex equity arrangements, acceleration provisions, or multi-jurisdiction enforceability requirements","$1,500–$4,000+","1–2 weeks",[474,479,484,489],{"code":475,"name":476,"flag_asset_id":477,"note":478},"us","United States","flag-us","Equity option grants must be priced at fair market value as determined by a current 409A valuation — grants below FMV trigger IRC Section 409A penalties for the advisor. The independent contractor classification should be consistent with IRS and state labor agency standards; California's AB5 test is particularly strict. Non-compete provisions in advisor agreements are unenforceable in California and several other states.",{"code":480,"name":481,"flag_asset_id":482,"note":483},"ca","Canada","flag-ca","Canadian securities law requires that equity grants to advisors comply with applicable prospectus exemptions under National Instrument 45-106, most commonly the 'accredited investor' or 'employee, director, officer or consultant' exemptions. Quebec advisors require a French-language agreement or a French translation for provincially regulated matters. Non-solicitation provisions are enforceable if reasonable in scope and duration.",{"code":485,"name":486,"flag_asset_id":487,"note":488},"uk","United Kingdom","flag-uk","Equity grants to UK-based advisors through an Enterprise Management Incentive (EMI) scheme may qualify for favorable capital gains tax treatment if structured correctly, but EMI eligibility is restricted to trading companies below a £30M gross assets threshold. Restrictive covenants in advisor agreements — including confidentiality and non-solicitation — are enforceable if reasonable and supported by adequate consideration.",{"code":490,"name":491,"flag_asset_id":492,"note":493},"eu","European Union","flag-eu","GDPR applies when a company shares personal data of customers, employees, or third parties with an EU-based advisor — the confidentiality clause should reference applicable data protection obligations. Equity grant rules vary significantly by member state; France, Germany, and the Netherlands each have distinct tax treatments for options. Non-compete and non-solicitation enforceability also varies, with France requiring financial compensation for post-termination restrictions.",[247,239,232,251,495,496,497,498,499,500,501,502],"employment-agreement_at-will-employee-D541","employment-agreement-executive-D543","joint-venture-agreement-D889","partnership-agreement-D12551","adhesion-to-the-unanimous-shareholder-agreement-D848","letter-of-intent_acquisition-of-business-D5197","confidentiality-agreement-D950","general-non-compete-agreement-D882",{"emit_how_to":193,"emit_defined_term":193},{"primary_folder":93,"secondary_folder":505,"document_type":506,"industry":507,"business_stage":508,"tags":509,"confidence":515},"partnerships-and-joint-ventures","agreement","general","all-stages",[510,511,512,513,514],"confidentiality","contract","board-advisor","equity-compensation","advisory-agreement",0.92,"\u003Ch2>What is a Board Advisor Agreement?\u003C/h2>\n\u003Cp>A \u003Cstrong>Board Advisor Agreement\u003C/strong> is a legally binding contract between a company and an individual advisor who provides strategic guidance, introductions, or domain expertise in a non-employee, non-director capacity. Unlike a consulting agreement — which governs deliverables and fees — an advisor agreement defines a relationship: the advisor's expected time commitment, their compensation (almost always an equity option grant with a vesting schedule), confidentiality obligations, IP assignment, conflict-of-interest disclosures, and the conditions under which either party can exit cleanly. It is the foundational document for any advisory board, protecting both the company's sensitive information and the advisor's expectation of earning their equity over time.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Operating without a signed board advisor agreement is one of the most common and costly oversights at early-stage companies. Without it, there is no enforceable confidentiality obligation — an advisor who leaves can share your product roadmap or customer pipeline with a competitor. There is no IP assignment — a framework, sales methodology, or technical concept the advisor develops in connection with your business may belong to them personally. There is no defined vesting schedule — a dispute over whether an advisor earned their full grant after six months of inconsistent participation can cloud your cap table and complicate due diligence at your next funding round. Investors reviewing your Series A or acquisition target will request documentation of every equity grant; an undocumented advisor relationship delays or derails that process. This template gives you a professional, attorney-reviewed starting point that closes all of those gaps in under 30 minutes.\u003C/p>\n",1781185991985]