Y Combinator Advisor Agreement

Previously, we published guidelines on how to issue the right number of shares/options to employees and advisors. As we have seen in this article, sharing fairness with employees and advisors is often used as a motivational tool and as a way to develop a company`s relationship with that person. Cooley LLP, any company affiliated with Cooley LLP, including Cooley (UK) LLP and Cooley SG LLP* and their respective partners, employees and representatives of the foregoing (collectively, “Cooley”), do not endorse or recommend the use of default values or materials on CooleyGO.com, and Cooley does not express any opinion or recommendation as to what is or should be, a standard “Market” document. The terms and conditions must be negotiated according to your specific situation and the relevant documents must be adapted to the specific legal and commercial requirements of the proposed transaction. Additional documentation may be required for the planned transaction. Cooley assumes no responsibility for the content of the materials provided on CooleyGO.com or for the consequences of your use of such materials. You are responsible for ensuring that all required securities filings and/or other legally required filings, if any, are prepared and filed. You should consult a licensed lawyer in your jurisdiction, as well as tax advisors, before using or relying on documents on CooleyGO.com, especially if you don`t understand any of their terms. Check carefully and use them at your own risk.

No document or information provided on CooleyGO.com constitute legal advice or should be used as legal advice. Some deals have a three-month cliff, which gives the parties time to determine if the relationship adds value and works. The Founder Advisor Standard Template (FAST) was developed by the Founder Institute to foster collaboration between entrepreneurs and other experts in the field to create meaningful and sustainable technology companies. FAST allows any mentor, consultant or expert in the field to quickly connect with a fast-growing technology company at every stage and support it using fair terms for predefined stock compensation. Just check the level of commitment, sign the agr. show more and start the relationship. Tedious negotiations, legal elaboration and revision are no longer necessary. The original document (along with other documents) is available at fi.co/contents/fast Consultants affected by the FAST agreement are founders and senior executives for strategic advice through advisory board roles, and these advisors are typically remunerated by equity. The FAST agreement is not designed for traditional project consulting and “work for hire” relationships.

The key to any consulting relationship is to find the right fit. You will know in a few months if it will be fruitful. It`s also not uncommon for advisors to ask questions about tracking future rounds of financing with their own money and investing directly in the business. Consultants get unique insight into a company`s high-level operations and if they like what they see and have the resources, they may want to join. Sometimes consultants even become key employees of the company. 1. Services. The Consultant agrees to act as a mentor or consultant for the Company and to provide advice and support to the Company from time to time, as further described in Appendix A or otherwise mutually agreed by the parties (collectively, the “Services”).

Experienced advisors may have a framework they`ve already used – once it`s time to talk about compensation, they can offer a structure they`re familiar with. It`s up to you to determine if this makes sense for your business. If not, work with your lawyer and consultant to find an agreement that works. .

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