Legal Documents

What is a FAST Agreement ?

A FAST Agreement is a short, simple contract by which a company engages a person to act as its mentor or advisor.

Under a FAST Agreement, the person does not receive any cash compensation for his service in return but instead has the right to receive shares in the future. 

By using a FAST Agreement, the advisor serves as an independent consultant, not as an employee.

Key points included

  • Services you expect to receive from the advisor;
  • Type and amount of shares that the advisor will be entitled to receive;
  • Schedule for vesting of the shares;
  • Mechanism under which the advisor will receive shares; and
  • How long the notice period is for terminating the engagement.

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