See Also:
Advisory Board Best Practices
Benefits of Advisory Boards
Form an Advisory Board
How to Manage your Lawyer
How to write an Action Plan
Advisory Board Agreement
Whereas ____ (Company Name) (Company) desires to have ____ (Board Member) (Member) participate as a member of the (Company Name) Advisory Board (Board) and Member desires to participate in such a capacity, this advisory board agreement establishes the business relationship between Company and Member.
Scope of Advisory Board Agreement
The sole purpose of the Advisory Board Agreement is to provide the CEO of Company with the varying perspectives of the respective Advisory Board Members. The CEO of Company will choose all topics discussed at Board of Advisory meetings. The Board of Advisors will not provide a consensus or vote on a course of action for Company. Member agrees to interact with Company in an advisory capacity only and will have no responsibility or authority in the operations of Company’s business. The use of any information, perspectives or opinions provided by members of the Board will be at the sole discretion of the CEO of Company.
In deciding to take action on topics discussed at Advisory Board Meetings the Company absolves Advisory Board Members of any and all responsibility and liability. Company bears the sole responsibility of deciding what recommendations made by Board of Advisors or Board Member to accept or reject. Company also bears the sole responsibility regarding any implementation and/or success of any recommendation made by Board of Advisory or Board Member.
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Frequency of Advisory Board Meetings
The Advisory Board will meet three (3) or four (4) times a year. Company will notify Members the first (1st) of each year the dates of the meetings for that year.
Member Remuneration
Company agrees to pay Member (??) hundred dollars ($??.00) for each Advisory Board Meeting attended.
Termination
Either party can terminate this Board of Advisors agreement with thirty (30) days prior written notice.
Termination notices will be mailed to the following addresses:
______________ (Company)
______________ (address){BR} ______________ (city & state)
______________ (Member)
______________ (address){BR} ______________ (city & state)
Confidentiality
Company will make Member aware of all conversations and/or materials that are deemed confidential. Any information in the public domain will not be deemed confidential.
This Advisory Board agreement deems the terms and fees of this Advisory Board confidential.
Governing State LAW. This Advisory Board Agreement is executed pursuant to, is intended to be performed under and shall be governed in its interpretation and effect by the laws of the State of (?).
______________ (Company)
______________ Date
______________ (Advisory Board Member)
______________ Date
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