Our Advisory Board - Briefing Document

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Creating an Advisory Board • In addition to its formal Board of Directors, Society is now also looking to create an Advisory Board consisting of trusted individuals with a shared interest in the company’s growth and impact. • Advisory Board members will not vote on corporate matters or fulfil a legal or fiduciary role. No liability is ascribed to members and they will not be appointed as Directors of the Company. • Core responsibilities of the Advisory Board will include: • facilitating introductions and referrals in support of the business development activity of the firm and helping the firm to broker new strategic relationships and alliances that will power its growth; • advice and input into the company’s strategy; • ad hoc guidance and counsel to the Managing Director upon request. • Advisory Board members will be engaged via a written ‘Consultancy Agreement’ and will be remunerated at a proposed rate of £10,000 GBP p/a. • There will be a basic commercial expectation that the new income unlocked by the Advisory Board members will exceed the Advisory Board’s associated costs. • The responsibilities, time commitments, and remuneration of Advisory Board members may be adjusted over time by mutual consent.
Proposed Arrangements • The Advisory Board will meet at least twice annually. These meetings will usually be held online. However where a face-to-face meeting proves logistically possible, the meeting will be contextualised alongside a lunch or dinner. • Meetings are expected to require up to four hours each. Planned business development or introductory meetings may also be arranged around any faceto-face Advisory Board meetings. • The annual time commitment for Advisory Board members will be two fourhour Board meetings (plus dinner/lunch when face-to-face) and up to a further four days of introductory meetings or ad hoc advice. • Travel expenses incurred by the Advisory Board in relation to their work with Society will be met by Society in full and in line with Society’s Expenses Policy. • In the event that face-to-face Society meetings are arranged around preexisting commitments of Advisory Board members for other organisations, Society will agree to pay a fair proportion of the costs on a case-by-case basis. • Small events may be organised at which an Advisory Board member is asked to address a private audience of Society’s clients or contacts on their area of expertise. Any time involved in the preparation and attendance at such an event would be part of the member’s overall remunerated time.
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Our Advisory Board - Briefing Document

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