Advisory Board Member Agreement Template (Australia)

For Australian companies engaging advisory board members

$79.00 +GST

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Use this template to:
  • Set clear terms for scope, fees, minimum hours and expenses;
  • Confirm independent contractor status with no authority to bind;
  • Protect confidential information and secure intellectual property ownership;
  • Grant time-vested options through the optional Schedule 1 agreement.

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Advisory Board Member Agreement template, Schedule 1: Option Agreement with grant details.

About this Document

Use this template if you:
  • Are engaging an advisory board member or individual adviser and want the arrangement set out in a clear, written agreement
  • Will pay the adviser a cash advisory fee, whether or not you also grant time-vested options as part of the package
  • Want to confirm the adviser acts as an independent contractor with no authority to bind your company
  • Need written protections around confidentiality, intellectual property, conflicts of interest and termination
  • Want an optional option agreement ready to include where equity forms part of the compensation
It is suited to:
  • Australian companies formalising the engagement of an advisory board member or individual adviser
  • Businesses paying an advisory fee in cash, with the option of also granting time-vested options
  • Companies seeking a general commercial agreement that does not require either party to hold any particular licence
What this template covers:
  • Contract details, including parties, term, minimum hours, advisory fee, expenses and adviser options
  • Scope of services and the adviser’s responsibilities, obligations and conflict-of-interest commitments
  • Independent contractor status, including no employment rights, benefits or decision-making authority
  • Confidential information obligations and intellectual property ownership, assignment and licensing
  • Termination rights, return of company materials, dispute resolution and mediation
  • GST handling, jurisdiction and governing law (New South Wales), notices and general provisions
  • Schedule 1 Option Agreement covering grant, monthly vesting, exercise, adjustments, default, termination and tax treatment options
You receive an editable Word document containing the Advisory Board Member Agreement and an optional Option Agreement (Schedule 1), with placeholders for your company and adviser details, fee, term and option terms. It is a practical, lawyer-drafted starting point you can tailor to your business; if equity is the adviser’s only compensation or the arrangement is complex or high-risk, tailored legal advice may be warranted.

How To Use This Template

This template is a starting point, not a final document. It’s been drafted by Australian lawyers to be practical and flexible, but it still needs to be reviewed and tailored for your specific business, transaction and risk profile.

Before you use it, you should:

  • Complete all placeholders, bracketed items and optional fields;
  • Remove any drafting notes or clauses that aren’t relevant to your situation; and
  • Check that party names, entity details, dates, addresses, contact details and defined terms are accurate.

Make sure the template is consistent with your other documents and obligations – including any existing contracts, policies, procedures, website terms, privacy disclosures, regulatory requirements or internal governance documents. If anything conflicts, it should be resolved before you sign, issue, adopt or implement the document.

If you are using the template as an agreement, it should be reviewed and signed by all relevant parties in accordance with applicable law and your internal signing requirements. If you are using it as a policy, procedure, notice or compliance record, it should be approved and stored under your organisation’s normal document control processes.

This template is provided as general information only and is not legal advice. Complex, high‑value, highly regulated or cross‑border matters will usually require bespoke drafting. For anything outside a straightforward use case, we strongly recommend obtaining legal advice before relying on, signing or implementing this document.

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