Startup Advisor Equity Agreement for the United Kingdom

Startup Advisor Equity Agreement Template for England and Wales

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What is a Startup Advisor Equity Agreement?

The Startup Advisor Equity Agreement is essential when companies seek to engage experienced advisors by offering equity instead of cash compensation. This document, governed by English and Welsh law, establishes the framework for the advisory relationship, including specific details about equity grants, vesting schedules, and service expectations. It protects both parties' interests while ensuring compliance with UK corporate and securities regulations. The agreement is particularly valuable for early-stage startups looking to leverage expertise while preserving cash resources.

What sections should be included in a Startup Advisor Equity Agreement?

1. Parties: Identification and details of the company and advisor

2. Background: Context of the advisory relationship and purpose of agreement

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Scope of advisory role and duration

5. Equity Compensation: Details of equity grant, vesting schedule, and conditions

6. Duties and Obligations: Advisor's responsibilities and commitments

7. Confidentiality: Protection of company information

8. Termination: Conditions for ending the agreement

What sections are optional to include in a Startup Advisor Equity Agreement?

1. Non-Compete: Restrictions on competing activities - use when advisor has access to sensitive information or competing interests

2. IP Assignment: Transfer of intellectual property rights - use when advisor may create IP during engagement

3. Expenses: Terms for reimbursement of expenses - use when advisor may incur expenses during service

4. Board Observer Rights: Rights to attend board meetings - use for strategic advisors with significant involvement

What schedules should be included in a Startup Advisor Equity Agreement?

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

2. Schedule 2: Equity Terms: Detailed terms of equity grant and vesting schedule

3. Schedule 3: Company Information: Key company details and cap table

4. Appendix A: Confidential Information: Definition and scope of confidential information

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