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Startup Advisor Agreement

Startup Advisor Agreement Template for Belgium

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Key Requirements PROMPT example:

Startup Advisor Agreement

"I need a Startup Advisor Agreement for our Belgium-based fintech startup, where we're bringing on a technical advisor who will help with AI development for 2 days per month in exchange for 1% equity vesting over 2 years, starting March 2025."

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Document background
The Startup Advisor Agreement is essential for Belgian startups seeking to formalize relationships with experienced professionals who provide strategic guidance and expertise. This document is particularly crucial in the Belgian startup ecosystem, where formal documentation of business relationships is required for legal and tax purposes. The agreement covers key aspects such as scope of services, compensation (including potential equity arrangements), confidentiality, intellectual property rights, and advisor obligations, all while ensuring compliance with Belgian civil and commercial law. It's designed to protect both the startup's interests and the advisor's rights, clearly establishing the advisor's role as an independent contractor rather than an employee. The document is adaptable to various advisory relationships, from technical experts to industry veterans, and can accommodate both regular ongoing advice and project-specific consultations.
Suggested Sections

1. Parties: Identification of the startup company and the advisor, including full legal names, registration numbers, and registered addresses

2. Background: Context of the agreement, including the startup's business, advisor's expertise, and general purpose of the engagement

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

4. Appointment and Term: Formal appointment of the advisor, term of engagement, and renewal/extension provisions

5. Scope of Services: Detailed description of advisory services to be provided, including specific areas of expertise and deliverables

6. Advisor's Obligations: Key responsibilities, time commitment, reporting requirements, and standard of care

7. Company's Obligations: Company's responsibilities, including providing necessary information and access to enable advisor to perform services

8. Compensation: Fee structure, payment terms, expenses, and any equity compensation arrangements

9. Intellectual Property Rights: Ownership and assignment of IP created during the advisory relationship

10. Confidentiality: Protection of confidential information, trade secrets, and business information

11. Independent Contractor Status: Clear statement of advisor's status as independent contractor, not an employee

12. Termination: Grounds for termination, notice periods, and consequences of termination

13. General Provisions: Standard legal clauses including governing law, jurisdiction, entire agreement, and amendments

Optional Sections

1. Equity Compensation: Detailed terms of any stock options or equity grants, used when advisor receives equity as part of compensation

2. Non-Competition: Restrictions on advisor's ability to work with competitors, used when advisor has access to highly sensitive information

3. Non-Solicitation: Restrictions on soliciting company's employees or customers, used when advisor has significant contact with key stakeholders

4. Data Protection: GDPR compliance provisions, used when advisor will have access to personal data

5. Board Observer Rights: Terms for advisor's attendance at board meetings, used when advisor has senior advisory role

6. Performance Metrics: Specific KPIs or performance evaluation criteria, used when compensation is tied to performance

7. Insurance Requirements: Professional liability insurance requirements, used for high-risk advisory roles

8. Dispute Resolution: Mediation or arbitration procedures, used when parties prefer alternative dispute resolution

Suggested Schedules

1. Schedule A - Services Description: Detailed outline of specific advisory services, deliverables, and time commitment

2. Schedule B - Compensation Terms: Detailed breakdown of fees, payment schedule, and expense reimbursement policy

3. Schedule C - Equity Compensation Plan: Details of any stock options or equity grants, including vesting schedule and terms

4. Schedule D - Confidential Information: Specific categories of confidential information and handling requirements

5. Appendix 1 - Company Policies: Relevant company policies that advisor must comply with

6. Appendix 2 - Conflict Disclosure Form: Template for advisor to disclose any potential conflicts of interest

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Technology

Software Development

Biotechnology

Fintech

E-commerce

Healthcare Technology

Clean Technology

Artificial Intelligence

Digital Media

Software as a Service

Internet of Things

Retail Technology

Educational Technology

Manufacturing Technology

Blockchain

Cybersecurity

Relevant Teams

Legal

Human Resources

Executive Leadership

Board of Directors

Finance

Operations

Strategy

Corporate Development

Administration

Compliance

Relevant Roles

Chief Executive Officer

Founder

Co-founder

Chief Technology Officer

Chief Financial Officer

General Counsel

Legal Counsel

HR Director

Business Development Director

Strategy Advisor

Technical Advisor

Industry Expert

Board Member

Startup Mentor

Innovation Consultant

Technology Advisor

Financial Advisor

Marketing Advisor

Industries
Belgian Civil Code (Burgerlijk Wetboek/Code Civil): Fundamental law governing contracts, obligations, and civil relationships in Belgium. Articles 1101-1369 specifically deal with contract formation, validity, and enforcement.
Belgian Company Code (Wetboek van Vennootschappen en Verenigingen/Code des Sociétés et des Associations): Regulates corporate relationships and governance, including roles of external advisors and their relationships with companies.
Belgian Labor Law (Arbeidsovereenkomstenwet/LOI relative aux contrats de travail): Important to ensure the advisory agreement doesn't create an employer-employee relationship and clearly establishes independent contractor status.
Belgian Tax Code (Wetboek van de Inkomstenbelastingen/Code des Impôts sur les Revenus): Governs tax implications of advisory services, including VAT requirements and income tax considerations for both parties.
Belgian Intellectual Property Law (Wetboek van Economisch Recht/Code de droit économique - Book XI): Covers protection of intellectual property rights, particularly important for advisory services involving strategic or technical guidance.
EU General Data Protection Regulation (GDPR): Regulates the processing and handling of personal data, which may be relevant if the advisor has access to company or customer data.
Belgian Trade Secrets Law (Wet betreffende de bescherming van bedrijfsgeheimen/LOI relative à la protection des secrets d'affaires): Implements EU Trade Secrets Directive, crucial for protecting confidential business information shared with advisors.
Belgian Competition Law (Wet tot bescherming van de economische mededinging/LOI sur la protection de la concurrence économique): Relevant for non-compete clauses and ensuring the advisory agreement doesn't violate competition regulations.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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