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Consulting for Equity Agreement


A Consultant performing professional services with specific deliverables for Client in accordance with a professional charge out rate under a consulting agreement. This is drafted in Neutral Form.

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Document Description

A Consultant performing professional services with specific deliverables for the Client in accordance with a professional charge out rate under a consulting agreement. This is drafted in Neutral Form.

The parties agree that the Work shall be carried out in accordance with and subject to this Agreement hereto.

The Consultant shall with due care, skill and diligence and in a good and professional manner carry out the Work under this Agreement.

In return for these services, the Consultant will receive options to purchase a specified number of shares of the company's common stock. The options will vest over a certain period of time and are subject to approval and pricing by the company's board of directors. Additionally, if the company undergoes a change in control, all of the options will immediately vest.

The Consultant shall also comply with any instructions or variations issued by the Client (or any authorised representative of the Client) in relation to the Work. If instructions are given orally, they shall be confirmed in writing by the Customer within the following 7 days. If any such instruction or variation is likely to result in any delay to the Completion Date, the Consultant may, within 3 days of the issue of the relevant instruction or variation but not otherwise, claim in writing for an extension of time under Clause 3.1 which shall be granted to the extent fair and reasonable in the circumstances.

The Consultant shall at all times appoint a competent person in charge and any instructions given to him by the Client shall be deemed to have been issued to the Consultant.

The Consultant shall comply with, and give all notices required by, any statute, any statutory instrument, rule or order or any regulation or byelaws applicable to the Work.

The Consultant shall have fulfilled its obligations by completing the Work, including delivery to the Client of the materials listed in the Schedule 1 entitled “Deliverable Materials” (if any) and the Customer accepts such activities and materials without unreasonable objections.

The Work shall be completed by the Completion Date. If it becomes apparent that the Work will not be completed by the Completion Date for good reason, then the Client may grant such an extension of the time for completion as its full discretion to take account of the reasons for the delay.


How to use this Document?

This Consulting Agreement should be carefully read by the Consultant and the Client.

The parties should sign and return a copy, and once signed, both parties should get a copy. To avoid future disputes, both parties may wish to have their signature witnessed.

Terms and Conditions and rights and liabilities should all be clearly stated in the Consulting Agreement.

If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.



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