• State Not Answered
  • Replies 2 replies
  • Subscribers 42 subscribers
  • Views 1230 views
  • Users 0 members are here
Options
Related

Advisor agreement

Aaron Reedy

Does anyone have an Advisor Agreement that compensates an advisor with equity? I'm looking specifically for one that works for an LLC and has some type of vesting schedule written in. 

I found this online: https://drive.google.com/file/d/0BwNfGKCf8sfbQ19wWk9KWWVSc0U/view

It seems like a good start, but I'm not sure it applies to LLCs. I'm trying to not pay an attorney or find a template that could be very quickly (cheaply) modified by an attorney.

Thanks!

  • 0

    If adding in an advisor to your LLC, it may be a good idea to consult with an attorney just to make sure you're following all the rules and saving yourself from unnecessary taxes. I'd start by reaching out to the legal student who helped you before the i.Lab and seeing whether they or their advisor in the UVA Law School has a template.

    It is my understanding after discussing something similar with our legal advisor that because you are structured as an LLC, you have to add in your advisor with vesting membership rather than simply "equity" into your operating agreement. 

  • 0 in reply to Alexander Singh

    Thanks, Alex.

    Yeah, we agreed to membership vesting over a 2 year period and I can see that the template I have is not set up that way. Checking with the legal student who helped us earlier is a good idea. I reached out to a couple of legal contacts as well, but I wanted to see if someone already had an agreement that could be easily modified.