Founder Advisor Standard Template
Originally published: 16/11/2017 15:33
Publication number: ELQ-67993-1
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Founder Advisor Standard Template

Used to help entrepreneurs establish advisory boards, engage with mentors, and trade support & advice for equity.

This will help you to save precious time and money you will waste trying to negotiate advisor relationships. Help from a legal professional for this is not required, and you only need to fill out one page.

The FAST Agreement can be modified to suit your needs, but it is advised that you check any modifications against the original template to make sure that no unexpected terms are being signed.

Advisors have been compensated with equity only here because the advisors that are targeted by the FAST agreement are high-level executives and founders that are usually compensated with equity. This agreement hasn't been designed for 'work-for hire' type relationships or normal project consulting.

If you're wondering how much equity you should allocate to advisors, the agreement advises that for an individual advisor, grant standard equity. Commonly in tech startups, a 5% pool is given to a board of advisors or a group of strategic advisors.

This Best Practice includes
1 Downloadable FAST Agreement Template

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