Board Of Advisors Agreement Generator for United Arab Emirates

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Key Requirements PROMPT example:

Board Of Advisors Agreement Template

I need a Board of Advisors Agreement Template for my Dubai-based technology startup to engage three international tech industry experts, including provisions for virtual meeting attendance and equity compensation, to be implemented by March 2025.

Document background
The Board of Advisors Agreement Template is designed for UAE companies seeking to formally engage advisory board members in compliance with local corporate governance requirements. This document is essential when establishing advisory relationships that provide strategic guidance without the full fiduciary responsibilities of traditional board directors. The agreement template aligns with UAE Federal Law No. 32 of 2021 and includes comprehensive provisions for appointment terms, compensation, confidentiality, intellectual property protection, and termination rights. It's particularly valuable for companies seeking expertise in specific areas while maintaining flexibility in their governance structure. The template can be customized based on whether the company operates in mainland UAE or free zones, and includes specific provisions required under UAE corporate law.
Suggested Sections

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

2. Background: Context of the agreement, brief description of the company and reason for appointing the advisor

3. Definitions: Key terms used throughout the agreement

4. Appointment and Term: Formal appointment of the advisor, duration of appointment, and renewal terms

5. Role and Responsibilities: Detailed description of advisor's duties, expected time commitment, and participation requirements

6. Compensation and Expenses: Details of advisory fees, reimbursement policies, and payment terms

7. Confidentiality: Obligations regarding confidential information and trade secrets

8. Intellectual Property: Ownership and assignment of any IP created during the advisory relationship

9. Independence and Non-Competition: Clarity on advisor's independent contractor status and any restrictions on competitive activities

10. Termination: Circumstances and process for ending the advisory relationship

11. Representations and Warranties: Standard declarations about capacity, conflicts, and ability to perform

12. Governing Law and Jurisdiction: Specification of UAE law application and dispute resolution procedures

13. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment

Optional Sections

1. Equity Compensation: Details of any stock options or equity grants, to be included if advisor receives equity-based compensation

2. Insurance and Indemnification: Coverage of advisor under D&O insurance and indemnification provisions, needed for high-risk advisory roles

3. Committee Participation: Specific provisions for participation in board committees, if applicable

4. Compliance with Company Policies: Reference to specific company policies that apply to advisors, needed for regulated industries

5. Conflicts of Interest: Detailed provisions for handling potential conflicts, important for advisors with multiple board positions

6. Data Protection: Specific obligations regarding personal data handling, required if advisor will access personal data

7. Foreign Compliance: Additional provisions for international advisors, needed when advisor is based outside UAE

Suggested Schedules

1. Schedule 1 - Services Description: Detailed outline of specific advisory services and expectations

2. Schedule 2 - Compensation Terms: Detailed breakdown of fees, payment schedule, and expense policies

3. Schedule 3 - Confidential Information: Specific categories of confidential information covered by the agreement

4. Schedule 4 - Approved Outside Activities: List of pre-approved activities or board positions held by advisor

5. Appendix A - Board Meeting Schedule: Anticipated schedule of board meetings and time commitment expectations

6. Appendix B - Company Policies: Relevant company policies applicable to advisors

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Relevant Industries

Technology

Financial Services

Healthcare

Real Estate

Manufacturing

Retail

Education

Energy

Telecommunications

Professional Services

Transportation

Construction

Hospitality

Relevant Teams

Legal

Corporate Governance

Compliance

Executive Leadership

Board Secretariat

Corporate Affairs

Risk Management

Human Resources

Relevant Roles

Chief Executive Officer

Company Secretary

General Counsel

Board Advisor

Corporate Governance Officer

Legal Director

Chief Legal Officer

Board Member

Managing Director

Compliance Officer

Chief Financial Officer

Corporate Secretary

Executive Director

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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