Advisory Board Consulting Agreement Template for United States

An Advisory Board Consulting Agreement is a legal document used in the United States that establishes the terms and conditions under which an individual or entity provides advisory services to a company's advisory board. The agreement outlines the scope of services, compensation, confidentiality obligations, and the independent contractor relationship between the parties. It includes provisions for intellectual property protection, liability limitations, and compliance with applicable U.S. federal and state laws. This document is crucial for protecting both parties' interests while ensuring clear expectations and responsibilities.

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What is a Advisory Board Consulting Agreement?

The Advisory Board Consulting Agreement is essential when companies seek to formally engage experienced professionals for strategic guidance and industry expertise. This document, governed by U.S. law, establishes a clear framework for the advisory relationship, protecting both the company's interests and the advisor's independent status. It typically includes detailed provisions for service scope, compensation, confidentiality, intellectual property rights, and liability protection. Companies use this agreement to ensure compliance with federal and state regulations while maintaining flexibility in their advisory relationships. The agreement is particularly important for startups and growing companies that need specialized expertise without the commitment of full-time employment.

What sections should be included in a Advisory Board Consulting Agreement?

1. Parties: Identifies the company and the advisor, including full legal names and addresses

2. Background: Explains the context of the agreement and the company's desire to engage the advisor

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Services: Details the advisor's appointment to the advisory board and scope of services

5. Term and Termination: Specifies duration of engagement and termination provisions

6. Compensation: Outlines fees, expenses, and payment terms

7. Confidentiality: Defines confidential information and protection obligations

8. Independent Contractor Status: Clarifies the advisor's status as an independent contractor

9. Governing Law: Specifies applicable law and jurisdiction

What sections are optional to include in a Advisory Board Consulting Agreement?

1. Equity Compensation: Details any stock options or equity grants when advisor receives equity compensation

2. Intellectual Property Rights: Addresses ownership of IP created during service when advisor may create IP during service

3. Non-Compete: Restricts advisor's involvement with competitors when competitive concerns exist

4. Insurance: Specifies required insurance coverage when advisor needs professional liability insurance

What schedules should be included in a Advisory Board Consulting Agreement?

1. Schedule A - Services: Detailed description of advisory services

2. Schedule B - Compensation: Detailed compensation terms including payment schedule

3. Schedule C - Confidential Information: Specific items considered confidential

4. Exhibit A - Stock Option Agreement: Terms of equity compensation if applicable

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

Jurisdiction

United States

Publisher

Genie AI

Document Type

Advisory Agreement

Cost

Free to use

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