Advisory Board Agreement Template for Belgium

The Advisory Board Agreement is essential for companies operating under Belgian law who seek to formalize relationships with external advisors providing strategic guidance and expertise. This document is particularly crucial in the Belgian corporate environment, where advisory boards play a significant role in corporate governance while remaining distinct from statutory management bodies. The agreement addresses key aspects required by Belgian law and EU regulations, including clear delineation of advisory roles, confidentiality obligations, compensation structures, and compliance requirements. It's designed to protect both the company's interests and the advisor's rights while ensuring transparency in corporate governance. The document is especially relevant for companies seeking to enhance their strategic decision-making through external expertise while maintaining compliance with Belgian corporate law and EU regulatory requirements.

1. Parties: Identification of the company and the advisory board member, including full legal names, addresses, and registration details where applicable

2. Background: Context of the agreement, purpose of the advisory board, and brief description of the advisor's expertise

3. Definitions: Key terms used throughout the agreement, including 'Services', 'Confidential Information', 'Intellectual Property', etc.

4. Appointment and Term: Formal appointment to the advisory board, duration of the appointment, and renewal/termination provisions

5. Role and Responsibilities: Detailed description of the advisor's duties, expected time commitment, and participation requirements

6. Meeting Procedures: Frequency of meetings, notice requirements, participation methods (in-person/virtual), and quorum requirements

7. Compensation and Expenses: Details of fees, reimbursement policies, and payment terms

8. Confidentiality: Obligations regarding confidential information, including scope, duration, and return of materials

9. Intellectual Property: Ownership and rights related to any IP created during the advisory relationship

10. Independence and Conflicts: Confirmation of independent contractor status and handling of potential conflicts of interest

11. Termination: Grounds for termination, notice requirements, and post-termination obligations

12. General Provisions: Standard legal clauses including governing law, notices, amendments, and entire agreement