Advisory Board Engagement Letter Template for Singapore

A formal engagement letter used in Singapore to appoint individuals to an organization's advisory board. The document outlines the terms of appointment, duties, compensation, and obligations of advisory board members while complying with Singapore's regulatory framework, including the Companies Act and relevant corporate governance guidelines. It establishes a non-executive advisory relationship distinct from employment or directorship.

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What is a Advisory Board Engagement Letter?

The Advisory Board Engagement Letter is a crucial document used when organizations in Singapore seek to formally engage external experts in an advisory capacity. This document serves to establish clear parameters of the advisory relationship, including scope of services, compensation, confidentiality obligations, and intellectual property rights. It's particularly important in Singapore's highly regulated business environment to distinguish advisory roles from directorship or employment relationships. The letter typically includes specific provisions to comply with Singapore's Companies Act, PDPA, and other relevant regulations while protecting both parties' interests.

What sections should be included in a Advisory Board Engagement Letter?

1. Introduction and Appointment: Details of the appointment and role offered, including company information and advisor details

2. Role Description: Specific duties and responsibilities as an advisor, including meeting attendance, strategic guidance, and expert input

3. Term: Duration of the engagement, commencement date, renewal terms, and termination provisions

4. Time Commitment: Expected hours/days of service, meeting frequency, and availability requirements

5. Compensation: Fee structure, payment terms, reimbursement of expenses, and payment schedule

6. Confidentiality: Confidentiality obligations, handling of proprietary information, and non-disclosure terms

What sections are optional to include in a Advisory Board Engagement Letter?

1. Equity Compensation: Terms and conditions of any stock options or shares offered as part of compensation package

2. Insurance Coverage: Details of D&O insurance or other coverage provided to advisory board members

3. International Travel: Travel requirements, arrangements, and reimbursement policies for international commitments

4. Non-Compete: Non-competition and non-solicitation provisions, if applicable to the role

5. Intellectual Property: IP rights, assignment provisions, and protection of company intellectual property

What schedules should be included in a Advisory Board Engagement Letter?

1. Schedule A - Scope of Services: Detailed list of advisory services to be provided and specific areas of expertise required

2. Schedule B - Compensation Structure: Detailed breakdown of compensation including fees, equity (if applicable), and expense policy

3. Schedule C - Conflict Disclosure Form: Template for declaring potential conflicts of interest and existing commitments

4. Schedule D - Confidentiality Agreement: Detailed confidentiality terms and non-disclosure provisions

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

Singapore

Publisher

Genie AI

Document Type

Advisory Agreement

Cost

Free to use

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