Advisor Agreement

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In summary, the objective of consulting agreements is therefore to avoid conflicts and clarify things throughout the duration of the contract. This should allow for a successful and professional working relationship. The Standard Founder/Advisor Template („FAST“) was developed by the Founder Institute to help emerging entrepreneurs in the startups we operate around the world and connect with the mentors they interact with throughout the program. In 2011, the Founder Institute published the FAST agreement for the public, and since then we have been gradually updating version 1 of the agreement. On August 1, 2017, the Founder Institute released a preview version of version 2 that contains a number of improvements: but before you think about the number of shares or issuance options of a consultant, there are a number of points to be solved. What is the role of the advisor? Will it provide marketing information or instructions at the board level? How long is it expected of her to commit each month and for how long? What do you pay? Defining these points will help determine the right amount of capital and ensure that everyone is on the same side in terms of expectations and responsibilities. Previously, we published some guidelines on issuing the right number of shares/options to employees and consultants. As stated in this article, sharing equity with employees and consultants is often used as a motivational tool and as a way to develop a company`s relationship with that person. The consultants will agree to serve as mentors for the company and advise on the issues outlined in the agreement. What is expected of an advisor should be included in the agreement and discussed in detail with the employer. There should be some flexibility in the agreement, so that when the advisor is asked to do more work, there is some leeway to do that. If you`re interested in getting in touch with dozens of potential mentors and consultants to build your startup, you should apply for a local Founder Institute program. You can apply on the following link: The secrecy of confidential information should also be included in the advisor`s agreement.