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The Board of Advisors Agreement is a crucial document used when companies in the UAE seek to formally engage experienced professionals in advisory capacities to enhance their strategic decision-making and corporate governance. This agreement is particularly important in the UAE business environment, where companies must navigate both international best practices and local regulatory requirements. The document typically includes comprehensive provisions covering the advisor's role, responsibilities, compensation, confidentiality obligations, and compliance with UAE corporate governance standards. It's essential for both public and private companies operating under UAE jurisdiction, especially those seeking to strengthen their board's expertise or comply with specific industry regulations. The agreement must align with UAE Federal Law No. 2 of 2015 (Commercial Companies Law) and other relevant local regulations while providing clear guidelines for the advisory relationship.

1. Parties: Identification of the Company and the Advisor, including full legal names and addresses

2. Background: Context of the appointment and brief description of the Company and Advisor's expertise

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Formal appointment of the advisor and duration of the agreement

5. Role and Responsibilities: Detailed description of the advisor's duties, expectations, and scope of authority

6. Time Commitment: Expected time commitment, including meeting attendance and availability requirements

7. Compensation: Details of advisory fees, payment terms, and expense reimbursement

8. Confidentiality: Obligations regarding confidential information and trade secrets

9. Intellectual Property: Ownership and rights to intellectual property created during the advisory relationship

10. Non-Competition and Non-Solicitation: Restrictions on competitive activities and solicitation of employees/clients

11. Independence and Conflicts: Confirmation of advisor's independent contractor status and conflict of interest provisions

12. Compliance: Obligations to comply with applicable laws, regulations, and company policies

13. Liability and Indemnification: Scope of liability and indemnification provisions

14. Termination: Conditions and process for terminating the advisory relationship

15. General Provisions: Standard legal provisions including governing law, notices, and amendment procedures