The biggest point I would say is vesting. You don't want to just give the .5% upfront and that's it. Relationships are always great in the beginning but you should structure the agreement so that it vests either over time or on certain events (e.g. intro that leads to hire/ investment/sales). That way it's crystal clear as to what being 'an advisor' actually means.
On Mar 26, 6:15 am, Tim Bull <tim.b...@binaryplex.com> wrote: > With the obvious caveat that we need to seek our own legal advice and > accounting advice etc. etc. what general guidance can you recommend in > terms of formalising an Advisors relationship? > > We've identified a high quality person that's well suited to our > business and has the right connections to make great introductions for > us, will let us use their name in our pitch and on our site and so > forth. In return we are offering up 0.5% equity. Currently we've > both mutually and verbally agreed that they want to work with us and > us with them. > > Having achieved the first part of "go find yourself a high quality > advisor" what's step two in terms of the legals etc? Beyond allocating > a portion of shares, what contracts or other things should we > consider. Are these reasonably "pro forma" or specific? > > Any general advice, war stories, things to consider and other thoughts > appreciated. > > Cheers, > > Tim -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Guidelines on discussion: http://tr.im/ujKF No lurkers! It is expected that you introduce yourself: http://tr.im/ujMm To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en To unsubscribe from this group, send email to silicon-beach-australia+unsubscribegooglegroups.com or reply to this email with the words "REMOVE ME" as the subject.
