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This Advisor Agreement is entered into between [[STARTUP]] (“Company”) and the
advisor named on the signature page hereto (“Advisor”) as of ________________ (“Effective Date”).
Company and Advisor agree as follows:
1. Services. Advisor agrees to consult with and advise Company from time to time,
at Company’s request (the “Services”).[(Optional) While this Agreement is in effect, Advisor will not
provide services to any company active in the field of ___________.]
2. Consideration. [If Option Grant: As the only consideration due Advisor for
Services, subject to approval by the Company’s Board of Directors (the “Board”), the Company
anticipates granting you an option to purchase [__] shares of the Company’s common stock at the fair
market value as determined by the Board as of the date of grant (the “Grant”).][If Stock Grant: As the
only consideration due Advisor for Services, subject to approval by the Company’s Board of Directors
(the “Board”), the Company anticipates granting you [__] shares of the Company’s common stock (the
“Grant”).] The anticipated Grant will be governed by the terms and conditions of the Company’s 2017
Equity Incentive Plan (the “Plan”) and your grant agreement, and will include a [two] year vesting
schedule, under which the shares shall vest in a series of [24] successive equal monthly installments
measured from the Effective Date, subject to Advisor’s Continuous Service (as defined in the Plan) as of
each such date. Advisor shall also be entitled to reimbursement for reasonable, documented expenses for
which Advisor receives prior approval from Company. [(If the Advisor asks for acceleration on sale of
the Company and you agree, include this language) If a Change in Control (as defined in the Plan)
occurs and your Continuous Service with the Company has not terminated as of, or immediately prior to,
the effective time of the Change in Control, then, as of the effective time of such Change in Control, the
vesting and exercisability of the Grant will be accelerated [in full.] [to the extent of _____% of the then
unvested portion of the Grant.]
3. Ownership. Company shall own, and Advisor shall and hereby does assign to
Company, all intellectual property and related rights throughout the world that arise in whole or part out
of, or in connection with, the Services or any Proprietary Information (“Inventions”).
4. Proprietary Information. Advisor agrees that all Inventions and other business,
technical and financial information (including, without limitation, the identity of and information relating
to Company’s customers or employees) Advisor obtains from or assigns to Company, or learns in
connection with the Services, constitute “Proprietary Information.” Advisor will hold in confidence and
not disclose or, except in performing the Services use any Proprietary Information. However, Advisor
shall not be so obligated with respect to information that (i) Advisor can document is or becomes readily
publicly available without restriction through no fault of Advisor, or (ii) that Advisor knew without
restriction prior to its disclosure by Company. Upon termination or as otherwise requested by Company,
Advisor will promptly return to Company all items and copies containing or embodying Proprietary
Information. Notwithstanding the foregoing nondisclosure obligations, pursuant to 18 U.S.C. Section
1833(b), Advisor shall not be held criminally or civilly liable under any federal or state trade secret law
for the disclosure of a trade secret that is made: (1) in confidence to a federal, state, or local government
official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or
investigating a suspected violation of law; or (2) in a complaint or other document filed in a lawsuit or
other proceeding, if such filing is made under seal.
5. Solicitation. Advisor agrees that during the term of this Agreement and for one
year thereafter, Advisor will not encourage or solicit any employee or consultant of Company to leave
Company for any reason.
1.
6. Termination. Either party may terminate this Agreement at any time, for any
reason, by giving the other notice. In addition, this Agreement shall automatically be terminated if the
Company has not requested that the Advisor render any Services for any consecutive 12-month period.
Sections 2 through 8 of this Agreement and any remedies for breach of this Agreement shall survive any
termination or expiration.
2.
The undersigned have executed this Advisor Agreement as of the Effective Date.
COMPANY:
[[STARTUP]]
By:
Name:
Title:
Email:
Address:
ADVISOR:
(Signature)
Address: