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Startup Advisor Agreement Template for Canada

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Key Requirements PROMPT example:

Startup Advisor Agreement

"I need a Startup Advisor Agreement for our Vancouver-based tech startup to bring on a cybersecurity expert as an advisor, with monthly compensation of $2,000 and 0.5% equity vesting over 24 months, starting March 1, 2025."

Document background
The Startup Advisor Agreement is essential for early-stage companies in Canada seeking to formalize relationships with experienced industry professionals who can provide strategic guidance, networking opportunities, and expertise. This document is typically used when a startup wants to engage advisors who can contribute to the company's growth and success without taking on an operational role or board position. The agreement covers crucial aspects such as service scope, compensation (often including equity), confidentiality, and intellectual property rights, while ensuring compliance with Canadian federal and provincial regulations. It's particularly important for protecting both parties' interests and establishing clear expectations regarding the advisory relationship, time commitments, and deliverables.
Suggested Sections

1. Parties: Identifies the startup company and the advisor, including their full legal names and addresses

2. Background: Outlines the context of the agreement, including the startup's business and the advisor's expertise

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Term: Establishes the advisor's role and the duration of the agreement

5. Services: Details the specific advisory services to be provided

6. Time Commitment: Specifies the expected time commitment from the advisor

7. Compensation: Outlines the basic compensation structure for advisory services

8. Confidentiality: Establishes obligations regarding confidential information

9. Intellectual Property: Addresses ownership and rights to IP created during the advisory relationship

10. Representations and Warranties: Contains basic warranties from both parties

11. Termination: Specifies how the agreement can be terminated by either party

12. General Provisions: Includes standard legal provisions such as governing law, notices, and amendments

Optional Sections

1. Equity Compensation: Detailed terms for any equity-based compensation, including vesting schedules and conditions

2. Conflict of Interest: Specific provisions addressing potential conflicts, particularly if the advisor works with multiple startups

3. Non-Competition: Restrictions on advisor's involvement with competing businesses

4. Expenses: Terms for reimbursement of advisor's expenses

5. Board Observer Rights: If applicable, terms for advisor's attendance at board meetings

6. Insurance: Requirements for professional liability insurance

7. Data Protection: Specific provisions for handling personal data, particularly important for international agreements

8. Tax Matters: Specific provisions regarding tax treatment of compensation

Suggested Schedules

1. Schedule A - Services Description: Detailed outline of specific advisory services and deliverables

2. Schedule B - Compensation Terms: Detailed compensation structure, including any equity components

3. Schedule C - Confidential Information: Specific details about what constitutes confidential information

4. Schedule D - Equity Documents: If applicable, stock option or share grant documentation

5. Schedule E - Conflict Disclosure: Advisor's disclosure of potential conflicts of interest

6. Appendix 1 - Meeting Schedule: Expected frequency and format of advisory meetings

7. Appendix 2 - Expense Policy: Details of allowable expenses and reimbursement procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions







































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Relevant Industries

Technology

Software Development

Biotechnology

Financial Technology

Clean Technology

E-commerce

Healthcare Technology

Artificial Intelligence

Consumer Products

Enterprise Software

Digital Media

Telecommunications

Education Technology

Internet of Things

Renewable Energy

Relevant Teams

Legal

Executive Leadership

Corporate Development

Finance

Operations

Board of Directors

Strategy

Business Development

Corporate Governance

Human Resources

Relevant Roles

CEO

Founder

Co-founder

Chief Legal Officer

General Counsel

Legal Counsel

Chief Financial Officer

Business Development Director

Head of Operations

Corporate Secretary

Board Member

Startup Advisor

Venture Partner

Chief Technology Officer

Head of Strategy

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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