Advisory Board Member Agreement
An Advisory Board Member Agreement allows you to engage an advisor for your business. It gives you the option to offer either financial compensation or equity in exchange for advice.
Last updated October 24, 2025
Suitable for Australia
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Frequently asked questions
What does the Advisory Board Member Agreement cover?
- Services to be provided;
- Term and commencement date;
- Minimum hours of service;
- Advisor fee, advisor equity and vesting arrangements;
- Independence of advisor, expenses, GST and responsibilities of advisor; and
- Termination, IP, confidentiality and assignment.
Other names for Advisory Board Member Agreement include:
- Advisor's Agreement; and
- Advisor Contract.
Further information
View Sample Advisory Board Member Agreement
The Legal Risk Score of a Advisory Board Member Agreement Template is Low
Our legal team have marked this document as low risk considering:
- The agreement can be terminated for convenience.
- The advisor is required to maintain confidentiality on potentially broad categories of information, posing a risk of liability if any information is unintentionally disclosed.
- The advisor's status as an independent contractor means they may not receive benefits or protections typically afforded to employees, which could affect their financial and professional security.
This document sets out clear terms that can help prevent misunderstandings and ensure both parties are aware of their obligations, which is generally beneficial in professional agreements. However, the significant transfer of rights and responsibilities primarily towards the company might present higher risks for the advisor compared to agreements that offer more balanced protections and benefits.
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