Advisor equity agreement (FAST template)
Based on the Founder/Advisor Standard Template (FAST) from Founder Institute. Standard ranges: 0.25% (Standard), 0.5% (Strategic), 1% (Expert) over a 2-year monthly vest.
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Founder / Advisor Standard Agreement
This Founder/Advisor Standard Agreement (the “Agreement”) is entered into between {{org_name}} (the “Company”) and {{adv_name}} (the “Advisor”) and shall be governed by the terms set out below.
1. Services. The Advisor agrees to provide the following advisory services to the Company on a non-exclusive basis:
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Engagement Level: {{engagement_level}} · Company Stage: {{company_stage}}
2. Equity Compensation. In consideration for the advisory services, the Company shall grant the Advisor a stock option to purchase a number of shares equal to {{equity_pct}}% of the Company’s fully-diluted capitalisation as of the date of this Agreement.
3. Vesting. The shares granted under this Agreement shall vest in equal monthly instalments over a period of {{vest_years}} years with a {{vest_cliff}}-month cliff. Vesting shall continue so long as the Advisor remains engaged. If the Advisor ceases to provide services, vesting shall cease as of that date; vested portion is retained.
4. Independent Contractor. The Advisor is engaged as an independent contractor. Nothing in this Agreement creates a partnership, employer-employee, agency or joint-venture relationship.
5. Confidentiality. The Advisor shall not disclose any confidential information of the Company to any third party. This obligation survives termination of this Agreement for two (2) years.
6. Non-Solicitation. During the term and for one (1) year thereafter, the Advisor shall not solicit any employee of the Company for the purpose of employment with another entity in competition with the Company.
7. Intellectual Property. Any work product, inventions, or improvements created by the Advisor in connection with the services rendered hereunder shall belong solely to the Company.
8. Expenses. The Company shall reimburse pre-approved out-of-pocket expenses incurred by the Advisor in connection with the services.
9. Term & Termination. Either party may terminate this Agreement at any time with thirty (30) days’ written notice. Provisions on confidentiality, non-solicitation, and IP survive termination.
10. Governing Law. This Agreement shall be governed by the laws of India (or the company’s applicable jurisdiction).
Agreed and accepted:
COMPANY: {{org_name}}
ADVISOR: {{adv_name}}