Startup Advisor Agreement

Startup Advisor Agreement Template for Denmark

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Document background

The Startup Advisor Agreement is essential for companies seeking to formalize relationships with experienced professionals who can provide strategic guidance and expertise. This document, governed by Danish law, is typically used when engaging advisors who will contribute their knowledge and network to support the company's growth and development. The agreement covers crucial aspects such as scope of services, compensation (including potential equity arrangements), confidentiality, intellectual property rights, and compliance with Danish regulatory requirements. It's particularly important for early-stage companies looking to establish professional advisory relationships while protecting their interests and ensuring clear expectations. The document needs to comply with Danish legal frameworks, including the Danish Contracts Act, Companies Act, and relevant EU regulations such as GDPR.

Suggested Sections

1. Parties: Identification of the company and the advisor, including full legal names, registration numbers, and addresses

2. Background: Context of the agreement, including the company's business, advisor's expertise, and purpose of the engagement

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope: Formal appointment of advisor and detailed scope of advisory services

5. Term and Termination: Duration of the agreement and conditions for termination

6. Advisor's Obligations: Key responsibilities, commitment levels, and performance expectations

7. Company's Obligations: Company's responsibilities to enable advisor to perform services

8. Compensation: Advisory fees, payment terms, and expense reimbursement policy

9. Confidentiality: Obligations regarding confidential information and trade secrets

10. Intellectual Property: Ownership and rights to IP created during the advisory relationship

11. Independence and Non-Competition: Advisor's status as independent contractor and any competition restrictions

12. Representations and Warranties: Basic assurances from both parties

13. Liability and Indemnification: Limitations of liability and indemnification obligations

14. General Provisions: Standard legal provisions including notices, amendments, governing law, and dispute resolution

Optional Sections

1. Equity Compensation: Terms of any equity-based compensation, used when advisor receives shares or options

2. Board Observer Rights: Rights to attend board meetings, used when advisor has board observation privileges

3. Data Protection: GDPR compliance provisions, required when personal data processing is involved

4. Insurance: Insurance requirements, used when advisor needs specific coverage

5. Key Person Provisions: Specific provisions if advisor is considered key to company's operations

6. Non-Solicitation: Restrictions on soliciting employees or customers, used in sensitive advisory roles

7. Press Rights: Rights to publicize the advisory relationship, used for high-profile advisors

8. Success Fee: Additional compensation based on specific outcomes, used in transaction-based advisory roles

Suggested Schedules

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

2. Schedule B - Compensation Terms: Detailed breakdown of compensation structure and payment terms

3. Schedule C - Equity Terms: Details of any equity compensation including vesting schedule

4. Schedule D - Approved Outside Activities: List of pre-approved activities or commitments of advisor

5. Appendix 1 - Contact Information: Key contact details for notices and communications

6. Appendix 2 - Confidentiality Requirements: Specific procedures and requirements for handling confidential information

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