Hey there,
One thing that never gets old is agreements…
I learned the hard way that advisor relationships need structure.
When I started Mane Hook-Up, I had amazing advisors who were genuinely invested in helping me succeed. But even with agreements in place, things still felt messy.
Some advisors went quiet. Others weren’t showing up to meetings they’d committed to. And I only had basic documentation about what they’d actually agreed to do or what they were getting in return.
I realised the biggest problem wasn’t finding good advisors - it was that (like most founders) I needed better agreements in place.
So I created a simple advisor agreement template with five non-negotiables. Now, every advisor signs before they formally join, and it saves me from headache.
The Problem I Was Solving
Before I started requiring signed agreements, I’d have conversations with potential advisors:
“You’ll attend quarterly meetings, right?”
“Of course!”
Then months would go by and they’d ghost. Or they’d miss meetings without notice.
Without a sound written agreement, I had no way to hold anyone accountable - and frankly, no way to protect myself either.
The hardest part? Getting people to commit in writing. But that’s exactly why it’s so important. If someone won’t sign a simple agreement, they’re not serious about being an advisor.
The 5 Non-Negotiables
#1: Clear Services & Expectations
What it includes:
Exactly what the advisor will do (strategic advice, intros, attending board meetings, etc.)
How many hours per month they’re committing
How many meetings they’ll attend per year (and the frequency)
How responsive they should be (e.g., reply to emails within X days)
Any specific responsibilities (recruiting, investor introductions, etc.)
Why it matters:
This stops the vague handshake deal problem. “You’ll advise us” means nothing. But “You’ll attend 6 board meetings per year and commit 5 hours per month to strategic advice” is crystal clear.
Both parties know what they’re signing up for. No surprises later.
What happens if you skip it:
Advisors show up sporadically. You’re constantly chasing them for the help you thought they’d provide. Resentment builds on both sides.
#2: Equity Compensation & Vesting
What it includes:
Equity percentage (if offering equity)
Vesting schedule (how the equity vests over time)
Cliff period (usually 3-6 months before any equity vests)
What happens if the company is sold
My standard:
Maximum 1% equity per advisor
3-year vesting schedule with a 3-month cliff
No cash compensation (equity only)
100% of unvested shares vest if the company is sold
Why it matters:
Equity is a big deal. It motivates advisors and aligns their interests with yours. But you need clear vesting schedules so advisors can’t claim equity if they disappear after one meeting.
The cliff period (usually 3 months) protects you: if an advisor quits immediately, they get nothing. If they stick around, the equity starts vesting monthly.
What happens if you skip it:
Advisors think they’re getting free equity. You think they’ve earned it. When you try to issue stock options later, there’s chaos and conflict.
#3: Confidentiality & IP Assignment
What it includes:
Advisor agrees not to disclose company information
Any IP created by the advisor belongs to the company
What information is considered confidential
What happens to confidential info if the relationship ends
Why it matters:
Advisors get access to sensitive information: your financials, customer lists, product roadmap, investor conversations. You need to protect that.
IP assignment protects you legally: if an advisor helps brainstorm a feature or product, that’s yours, not theirs.
What happens if you skip it:
An advisor leaves and starts a competing company using what they learned from you. Or they mention your financials to their other start-up friends. Or they claim credit for IP you created together.
#4: Independent Contractor Status
What it includes:
Advisor is not an employee
They receive no employee benefits (no health insurance, vacation, etc.)
They’re responsible for their own taxes
Company has no authority to control how they do the work
Why it matters:
This protects both parties. It clarifies that advisors aren’t getting the employment perks. It also protects you legally - if something goes wrong, they can’t claim you misclassified them as a contractor.
What happens if you skip it:
An advisor could later claim they were an employee and demand benefits. Or they could argue they’re owed employment taxes. It’s a legal mess.
#5: Term & Termination
What it includes:
When the agreement starts
How long it lasts (I typically use 2 years)
How either party can end it (usually 5 days written notice)
What happens to equity if the advisor leaves early
Why it matters:
This gives both parties an out. If an advisor isn’t showing up, you can end it cleanly. If an advisor finds they don’t have time, they can step down without drama.
Clear terms prevent situations where an advisor is technically still an advisor but hasn’t done anything in years.
What happens if you skip it:
You’re stuck with a ghost advisor. Or an advisor claims they’re still entitled to equity because the relationship never officially ended.
How to Implement This
Step 1: Find an agreement template
I used the Founder Institute’s template as my base and customised it for Mane Hook-Up. You can find similar templates online just make sure they covers things that are essential to you.
Step 2: Customise for your advisor
Not all advisors are the same. You might have:
Standard advisors: 5 hours/month, quarterly meetings, 0.25-0.50% equity
Strategic advisors: 10 hours/month, monthly meetings, recruiting help, 0.50-0.75% equity
Expert advisors: 20 hours/month, bi-monthly meetings, major projects, 1.00% equity
Adjust expectations and equity based on the role.
Step 3: Have the conversation first
Don’t just email them a contract. Have a call where you discuss:
What you’re asking them to do
Why you value their help
What equity you’re offering
Timeline and expectations
Then send the agreement to formalize the conversation.
Step 4: Get it signed before they officially join
This is critical. The agreement isn’t just a legal formality - it’s a signal of commitment. If someone won’t sign, they’re not serious.
Pro Tips
Be flexible on structure: If an advisor can’t commit to monthly meetings but would do quarterly, adjust accordingly. Better to be honest about expectations than have an agreement they can’t keep.
Offer tiered options: Have templates for Standard, Strategic, and Expert levels. It makes it easier for advisors to pick what matches their capacity.
Make it a conversation, not a gotcha: Frame the agreement as “Let’s get on the same page so we’re both clear on what this looks like.” Not as a legal document designed to trap them.
Review it regularly: If an advisor’s role changes, update the agreement. If they’re suddenly doing way more than expected, increase the equity or reduce commitments.
Your Quick Start
This week:
Find or create an advisor agreement template
Customise it for your company
Decide on your equity ranges (max %, vesting schedule)
Create a 1-2 page summary of what you’re offering
Before your next advisor:
Have the conversation about expectations and compensation
Send the agreement
Get it signed before they start advising
Keep a copy for your records
Pro tip: Start with one advisor and refine the agreement based on what works. By your third advisor, you’ll have a solid template you can reuse.
The Real ROI
Since implementing advisor agreements:
Advisors actually show up to meetings (because they’re committed in writing)
I don’t have lingering questions about what they agreed to
No conflicts about equity or expectations
Clear relationships that feel professional and respectful
A 2-minute conversation and a signed agreement beats months of miscommunication and resentment.
Don’t skip this step. It’s the difference between having advisors who actually help and advisors who disappear.
Let me know if you need help customizing your advisor agreement!
Ciao for now,
— Jade