Advisor_agreement_option
This Advisory Agreement outlines the terms and conditions under which an Advisor provides strategic and business advisory services to a Company. It details the term of engagement, compensation structure including base pay, incentive bonuses, and stock options, as well as expense reimbursement and other benefits. The agreement also includes provisions for termination, restrictive covenants such as non-disclosure and non-compete clauses, and governing law.
ADVISORY AGREEMENT
THIS ADVISORY AGREEMENT (“Agreement”) is made and entered into as of the [date] by and between [name], a [jurisdiction] corporation (hereinafter called the “Company”), and [name] (hereinafter called “Advisor”).
Term and Services:
1.1 Term. The Company hereby agrees to engage Advisor and the Advisor hereby agrees to serve the Company, on the terms and conditions set forth herein, for the period commencing on the date hereof and expiring on [date] (the “Initial Term”) unless sooner terminated as hereinafter set forth. This Agreement shall be extended for an additional [years] term (the “Renewal Term,” and collectively with the Initial Term, the “Term”) upon prior written mutual agreement between the Company and the Advisor of at least ninety (90) days prior to the expiration of the Initial Term.
1.2 Services of Advisor. The Advisor shall serve as Strategic and Business Advisor. The Advisor shall render such services as provided in this Section 1.2 to the best of his ability, and use his reasonable best efforts to promote the interests of the Company. The Advisor is permitted to pursue other business activities so long as the same do not conflict or compete with the business of the Company or the Advisor’s ability to provide the services as provided in this Section 1.2 to the Company and so long as such activities do not significantly interfere with the performance of the Advisor’s responsibilities as a service provider to the Company in accordance with this Agreement. The Advisor’s obligations hereunder shall run only to the Company and its subsidiaries, and not to the Company’s other affiliates, if any.
Compensation.
2.1(a) Base Compensation. Commencing on the effective date of this Agreement, the Advisor shall receive an annual base compensation (the “Base Compensation”) of [amount] during the first year of the Initial Term, with an annual increase review per year thereafter during the Term of this Agreement. Such Base Compensation review shall be on or about January 1st of a given contract year. The Base Compensation shall be payable in 12 equal installments consistent with the Company’s normal payroll schedule, subject to applicable withholding and other taxes, and shall not be decreased for any reason. Any deductions required to be made by the Company and submitted to relevant tax or other authorities will be deducted at source.
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