Advisory Board Member Agreement
Welcome to Advisory5 powered by Traction5! Advisory5 is a project by Traction5, LLC. By applying to be an Advisory Board Member ("Advisor") through our platform, you're acknowledging your agreement to the following terms and conditions. These terms are designed to accelerate startup growth by creating efficient, transparent mentorship. Please read carefully.
Core Tenets
Advisor Obligations and Startup Priority: The Advisor acknowledges that, as per the initial arrangement with Advisory5, neither financial nor equity compensation will be provided by the startup companies they advise. However, Advisors are not precluded from receiving equity or financial compensation directly from the startups at a later date, but such arrangements are not part of the Advisory5 program and should not be expected upfront. The Advisor shall prioritize the best interests of the entrepreneurs and startups they advise, acting in a manner that serves their growth and success.
Confidentiality and Non-Disclosure. As an Advisor of Advisory5, you are required to maintain the confidentiality of all sensitive and proprietary information encountered during your engagement. This includes, but is not limited to, information related to startup strategies, operations, and any data shared in meetings, emails, or other forms of communication.
2.1. Obligation of Confidentiality: You agree not to disclose, publish, or disseminate any confidential information to any third party without prior written consent from Traction5.
2.2. Definition of Confidential Information: Confidential Information refers to any data or information related to the activities, business, or practices of startups engaged with through the Advisory5 program, which is not publicly available.
2.3. Duration of Confidentiality Obligation: Your confidentiality obligation remains in effect for 2 years following the date of disclosure of the Confidential Information or until such information no longer qualifies as confidential.
2.4. Breach and Consequences: Any breach of this confidentiality agreement may result in immediate termination of your engagement with Advisory5 and Traction5, along with potential legal action to protect the interests of affected parties.
2.5 By agreeing to these terms, you acknowledge your responsibility to protect the confidentiality of information encountered as an Advisor in the Advisory5 program.
Disclosure Requirements: In the event that the Advisor enters, or plans to enter, into a separate business relationship with a startup participating in the Advisory5 program, the Advisor is obligated to notify the Advisory5 Program Office in writing a minimum of thirty (30) days in advance. Additionally, the Advisor must promptly disclose in writing any actual or perceived conflicts of interest that could potentially compromise the integrity of the advisory relationship.
Membership Fees: The Advisor agrees to pay a non-refundable monthly membership fee of twelve United States Dollars (USD 12.00) to Advisory5. This fee grants the Advisor access to the Advisory5 community, platform technology, and networking opportunities. Advisory5 reserves the right to amend this fee, and any changes will be communicated to the Advisor with no less than thirty (30) days written notice.
Operating Model
Program Management
All meetings must have an agenda at least 2 days in advance.
Advisors receive proper training and are timely assigned to new teams.
Advisor Commitments
Agree to a minimum one-year commitment after the initial 3-month pilot phase.
Be available for at least 8 out of 12 monthly meetings and 9 out of 10 scheduled meetings with your assigned entrepreneurs.
Respond to messages from Advisory5 administrators within 48 hours during normal business hours.
Advisors may consult with other advisors and founders briefly free of charge but may charge for deeper engagements.
Advisors may offer Office Hours to ventures in the program instead or in combination with their service on the advisory boards.
Financial Terms
The standard fee for Advisors is $12/month.
Traction5 reserves the right to change pricing. Advisors will be notified at least 30 days in advance via email before any price changes take effect.
Agreement Changes
Traction5 reserves the right to update this agreement. Changes will be communicated via email with a 30-day notice.
Acceptance of Terms
By submitting the payment associated with this agreement during the application process, you acknowledge that you have read, understood, and agree to these terms.