Associate an Advisor - Playbook

I'm working on a future startup and one of my strategic advisors asked if he could get some equity to stay super incentivized for the project's success. This got me thinking about the FAST Agreement (Founder Advisor Standard Template).

What is the FAST Agreement?

It's a straightforward contract created by the Founder Institute to simplify giving equity in exchange for advisory services.

Things to Consider Before Using a FAST Agreement

• Scoping the Role: It's crucial to clearly define the advisor's role in the company, the time commitment, and the level of engagement you expect from them.

• Vesting: We talked about this in the shareholders' agreement, but vesting is super important to ensure you don't get burned. The idea is to set up annual or quarterly vesting based on the level of commitment you're asking from your advisor.

• Confidentiality: It's basic, but remember to protect yourself with an NDA or a confidentiality clause.

How to Define the Percentage?