The Advisory Board Agreement is a critical document used when companies in Indonesia seek to formally engage external experts to provide strategic guidance and industry insights. This document is essential for establishing clear parameters of the advisory relationship while ensuring compliance with Indonesian legal requirements, including corporate law, employment regulations, and language requirements. The agreement typically includes comprehensive provisions covering appointment terms, compensation, confidentiality, intellectual property rights, and independence of the advisor. It's particularly important in the Indonesian context where business relationships often require careful documentation and clear distinction from employment relationships. The document should be drafted in both Indonesian and English languages to comply with Law No. 24 of 2009, with the Indonesian version prevailing in case of inconsistencies.
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1. Parties: Identification of the company and the advisor, including complete legal names and addresses
2. Background: Context of the advisory relationship and brief description of the company's business and advisor's expertise
3. Definitions: Key terms used throughout the agreement
4. Appointment and Term: Formal appointment of advisor, term length, and renewal provisions
5. Role and Responsibilities: Detailed description of advisory duties, meeting attendance requirements, and expected time commitment
6. Compensation: Advisory fees, payment terms, and expense reimbursement policies
7. Confidentiality: Protection of company's confidential information and trade secrets
8. Intellectual Property: Ownership and rights to intellectual property created during the advisory relationship
9. Independence and Non-Employment Status: Clear statement that advisor is an independent contractor, not an employee
10. Conflict of Interest: Obligations to disclose and avoid conflicts of interest
11. Termination: Grounds for termination and procedures for ending the advisory relationship
12. Language Requirements: Compliance with Indonesian Law No. 24 of 2009 regarding language requirements
13. Governing Law and Dispute Resolution: Choice of Indonesian law and dispute resolution mechanisms
14. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Non-Competition: Restrictions on advisor's involvement with competing businesses - used when advisor has access to sensitive competitive information
2. Stock Options or Equity Compensation: Terms of any equity-based compensation - included when advisor receives company shares or options
3. Anti-Corruption Compliance: Detailed anti-corruption provisions - important when advisor has government connections or influence
4. Insurance: Requirements for professional liability insurance - relevant for high-risk advisory roles
5. Data Protection: Specific data protection obligations - necessary when advisor will handle personal or sensitive data
6. Public Announcements: Rules for public disclosure of advisor's role - important for high-profile advisors or public companies
7. Force Majeure: Provisions for unforeseen circumstances preventing performance - relevant in long-term advisory relationships
1. Schedule A - Scope of Services: Detailed description of specific advisory services and deliverables
2. Schedule B - Compensation Details: Detailed breakdown of fees, payment schedule, and expense reimbursement policies
3. Schedule C - Meeting Schedule: Annual calendar of advisory board meetings and time commitment expectations
4. Schedule D - Approved Outside Activities: List of pre-approved advisory or business activities with other organizations
5. Appendix 1 - Confidentiality Agreement: Detailed confidentiality terms and requirements
6. Appendix 2 - Conflict of Interest Policy: Company's conflict of interest policy and disclosure requirements
7. Appendix 3 - Code of Conduct: Company's code of conduct applicable to advisors
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