Is an electronic signature legally binding?

Yes. Under the ESIGN Act (15 U.S.C. §7001) and state UETA laws, electronic signatures are generally enforceable if intent, consent, attribution, and record retention requirements are met.

Do I need a notary or witnesses?

Not usually for standard fellowship agreements, but certain states or specific clauses (power of attorney, real-estate-related terms) may require notarization or witnesses—check state law for special forms.

How soon must Form I-9 be completed?

Complete Sections 1 and 2 within three business days of hire and retain as required; keep I-9s for 3 years after hire or one year after termination, whichever is later.

Can the agreement be changed after signing?

Yes, by mutual written amendment signed by all parties. Unilateral changes are ineffective unless the agreement explicitly grants that right and complies with governing law.

How should I store signed copies?

Store signed PDF/A copies in secure systems with access controls and an audit trail. Maintain retention dates per IRS, HIPAA, or other applicable rules.

What if the fellow is a contractor vs employee?

Worker classification affects tax withholding, benefits, and legal obligations—consult counsel and follow IRS and state guidance when labeling and documenting the relationship.

Electronic Signature
Templates
HR
Venture Fellow Employment Agreement

Venture Fellow Employment Agreement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

Venture Fellow Employment Agreement

This Venture Fellow Employment Agreement (the "Agreement") is made and entered into as of (the "Effective Date"), by and between Employer Name: and Venture Fellow Name: .

1. Position and Term

Employer hereby employs Fellow in the capacity of within the department, reporting to .

The anticipated start date is . The initial term shall be for a period of unless earlier terminated in accordance with this Agreement.

2. Duties and Responsibilities

Fellow shall perform the duties customarily associated with the position and such other tasks as reasonably assigned by Employer. Fellow agrees to devote such time, skill and attention as required to perform the duties faithfully and in compliance with Employer policies.

Primary Responsibilities

3. Compensation and Benefits

As compensation for services performed under this Agreement, Fellow shall be paid a stipend of per , subject to applicable withholdings.

Expense Reimbursement

4. At-Will Employment; Termination

The relationship between Employer and Fellow is at-will. Either party may terminate this Agreement at any time with or without Cause or prior notice, subject to any applicable local law requirements. "Cause" shall include material breach, willful misconduct, dishonesty, or failure to perform duties after written notice and reasonable opportunity to cure.

5. Confidentiality and Inventions

Fellow shall maintain in confidence and not disclose or use, except in performance of duties, any confidential information of Employer. All inventions, discoveries, developments and improvements conceived or reduced to practice by Fellow, alone or with others, during the term and related to Employer’s business shall be the exclusive property of Employer and Fellow hereby assigns all rights to Employer. Fellow agrees to execute all documents reasonably necessary to effectuate such assignment.

Exceptions / Prior Inventions

6. Conflicts of Interest and Outside Activities

Fellow shall promptly disclose any material financial or business interest that could reasonably be expected to create a conflict with Fellow’s duties. Prior to engaging in compensated outside activities that may relate to Employer's business, Fellow will obtain written consent from Employer.

7. Background Check and Authorization

Fellow authorizes Employer to obtain and verify background, education, employment and reference information. Fellow acknowledges that such checks are a condition of employment and consent is voluntary but refusal may preclude employment.

Background Check Consent

I authorize Employer to obtain consumer reports, background checks and verification as described above.

8. Termination Pay and Return of Property

Upon termination, Fellow shall be paid any unpaid salary or stipend through the termination date and reimbursable expenses properly submitted. Fellow shall immediately return all Employer property, documents and confidential information.

9. Governing Law; Dispute Resolution

This Agreement shall be governed by the laws of the state or jurisdiction where Employer’s principal place of business is located, without regard to conflict of laws principles. Except for equitable relief, disputes arising under this Agreement shall be resolved by binding arbitration in the county of Employer’s principal place of business, and judgment on the award may be entered in any court of competent jurisdiction.

10. Miscellaneous

If any provision of this Agreement is held invalid, the remaining provisions will remain in full force and effect. This Agreement, together with any written offer letter and any executed invention assignment or confidentiality agreements, constitutes the entire agreement between the parties and supersedes all prior agreements relating to the subject matter herein. This Agreement may be amended only by a written instrument signed by both parties.

Personnel and Background Information

Personal Information

Employment History

Employer 1

Dates of Employment: From to

Responsibilities Employer 2

Dates of Employment: From to

Responsibilities

Education

References

Reference 1 Reference 2 Reference 3

Legal Statements

Equal Employment Opportunity: Employer provides equal employment opportunities without regard to race, color, religion, sex, national origin, age, disability, sexual orientation, gender identity or any other protected characteristic in accordance with applicable law.

Applicant Certification and Authorization: By signing below, Fellow certifies that all information provided in this Agreement and attachments is true, complete and correct to the best of Fellow’s knowledge. Fellow authorizes Employer to contact prior employers, educational institutions and references to verify any information provided and to make such inquiries as Employer deems necessary.

I certify that the information provided is true, complete and correct and authorize the verifications described above.

Acknowledgment

Fellow acknowledges receipt of this Agreement, understands its terms and agrees to be bound thereby. Fellow further acknowledges that any post-employment obligations, including confidentiality and assignment of inventions, survive termination of employment.

Employer Name:

By:

Date:

Venture Fellow Name:

By:

Date:

What the Venture Fellow Employment Agreement Covers

A Venture Fellow Employment Agreement is a written contract that sets the terms between a venture organization (accelerator, venture fund, or startup) and an individual engaged as a venture fellow. It typically defines role and responsibilities, term and work schedule, compensation and equity arrangements, confidentiality and intellectual property assignment, termination rights, and applicable governing law. The agreement clarifies expectations for both parties, reduces ambiguity about deliverables and compensation, and provides an enforceable record of promises and restrictions that govern the fellow relationship during and after the engagement.

Why a Clear, Written Agreement Matters

A written Venture Fellow Employment Agreement creates legal clarity about duties, payment, equity vesting, and IP ownership. It helps prevent disputes, supports compliance with employment and tax rules, and — when executed properly — can be reliably signed and retained using e-signature frameworks such as the ESIGN Act and UETA.

Who Typically Prepares and Signs This Agreement

Venture firms, accelerators, startups, fellows, and HR or legal teams commonly use this agreement to document short-term fellowships, stipend programs, or fellowship employment relationships.

Venture firms and accelerators documenting fellowship duties, stipend amounts, and IP assignments for program participants.
Startups hiring fellows for time-limited projects, defining deliverables, reporting lines, and potential conversion to full-time roles.
Fellows or contractors signing to accept terms, confirm confidentiality obligations, and acknowledge equity or stipend payment schedules.

Use the agreement to align expectations among founders, fellows, and host organizations, and to record compensation, IP, confidentiality, and termination terms clearly for future reference.

Core Parts of a Professional Venture Fellow Employment Agreement

A complete agreement addresses the main legal and operational topics that govern the fellow relationship, balancing clarity for the organization and protections for the fellow.

Parties

Identify the legal entity name and the fellow's full legal name, including business form (LLC, Inc.) and any DBAs to avoid ambiguity.

Term

State the start date, expected end date, renewal options, and any probationary period or milestones tied to continuation.

Duties

Describe role, reporting structure, deliverables, hours or full/part-time status, and performance expectations with measurable benchmarks when possible.

Compensation

Specify stipend or salary, payment frequency, expense reimbursement policy, and any equity, vesting schedule, or tax withholding details.

Confidentiality & IP

Include NDA terms, ownership of inventions, assignment of IP created during the fellowship, and permitted uses of prior work.

Termination

Define termination for cause and without cause, notice periods, severance if any, and post-termination obligations like return of materials.

Step-by-Step: Filling and Finalizing the Agreement

Follow these sequential steps to complete, sign, and store the agreement correctly.

01

Draft: Populate template with parties, term, duties, and compensation details.
02

Review: Have HR or legal review IP, tax, and termination provisions.
03

Sign: Collect signatures from both parties and any required witnesses or notary.
04

Store: Save executed copies in secure records with retention metadata.

Configuring an Online Signing Workflow

Set up the digital workflow to match your review and approval process before sending for signatures.

Field	Configuration
Authentication Method	Email link \| SMS or KBA as needed
Conditional Fields	Reveal equity or severance fields when applicable
Reminder Schedule	Auto-reminders at 3 and 7 days
Signer Order	Set organization signers before fellow signer

Digital Signing and File Requirements

Use a platform that supports PDF and Word DOCX templates, audit trails, and multiple authentication options for secure e-signing.

File Formats: PDF, DOCX supported
Authentication: Email, SMS, KBA options
Integrations: CRM and storage

Ensure the chosen tool can produce an audit trail, export signed PDF/A copies, and integrate with HR or document management systems for consistent retention and retrieval.

Where to Send or File the Final Agreement

After signing, route copies to the appropriate internal systems and retain a secure master copy for compliance.

HR Records: Store master executed PDF in employee file
Accounting: Send compensation details for payroll setup
Legal: Retain copy for IP and dispute reference
Fellow: Provide signed copy to the fellow

Key Timing and Onboarding Deadlines to Observe

Track these deadlines to meet federal requirements and ensure payroll and documentation are timely.

Signed Before Start:

Obtain the executed agreement before or on the fellow's start date.

I-9 Completion:

Complete and retain Form I-9 within three business days of hire.

Payroll Setup:

Add fellow to payroll before first pay run to ensure on-time pay.

Equity Vesting Dates:

Record grant effective and vesting start dates in equity ledger.

Tax Reporting:

Prepare to include the fellow on year-end tax forms as required.

Common Preparation Errors to Avoid

Using informal or trade names instead of the legal entity name, causing ambiguity in enforcement.
Leaving the effective date blank or inconsistent, which can create disputes about when obligations start.
Omitting an explicit IP assignment or vague language about ownership of inventions and deliverables.
Failing to collect signatures from all required parties or to retain an auditable signed copy.

Key Risks and Financial Consequences

I-9 Violations: $281–$2,789 per violation

Misclassification: Back taxes and penalties

1099/W-2 Penalties: Per-form fines under IRC §6721

Confidentiality Breach: Potential damages and injunctions

IP Disputes: Loss of rights or litigation costs

Backup Withholding: 24% withheld for missing TIN

Practical Tips for Accurate and Efficient Completion

Adopt consistent internal procedures to reduce rework and legal risk when executing fellow agreements.

Use Standardized Templates

Maintain a vetted template that includes mandatory clauses for IP, confidentiality, compensation, and termination so each agreement starts from a compliant baseline and reduces drafting errors.

Verify Identities and Names

Confirm the fellow's legal name and any business entity names against government IDs or formation documents to ensure tax and enforcement alignment.

Clarify Equity Terms

Spell out grant amount, class of equity, vesting schedule, acceleration events, and tax treatment; attach plan or grant notice as an exhibit if needed.

Record and Store Securely

Use secure document storage with role-based access, maintain an audit trail for signatures, and tag retention dates for compliance with recordkeeping policies.

Real-world Examples of eSignature Use for Agreements

Organizations often rely on eSignature platforms to execute fellow or short-term engagement agreements quickly and securely.

Optica Ventures — COO

Optica used digital workflows to streamline document turnaround and reduce administrative friction.

The platform simplified external signing for fellows and partners.
"The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers." — Brian Fitzgibbons, COO, Optica Ventures LLC

Martin Properties — Founder

A small firm moved fellowship and contractor agreements online to avoid in-person meetings.

They kept full audit trails for compliance.
"I can process and execute all of these documents online with 100% compliance and built-in security. Whether on mobile or working offline, I can get forms back to their necessary parties efficiently." — Tim Martin, Founder, Martin Properties

Comparison: eSignature Plans for Agreement Execution

Typical plan features and entry pricing for common eSignature vendors; signNow appears first per listing rules and pricing varies by plan and billing terms.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	Yes, 7-day trial	No	No	Yes, limited	Yes, limited
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant / Envelope Cap	Yes; no envelope cap	Yes; 100 envelopes/user/year cap	Yes; no envelope cap	No; no envelope cap	No; no envelope cap

Frequently Asked Questions About This Agreement and eSigning

Answers to common legal, technical, and process questions when preparing and executing a Venture Fellow Employment Agreement.

Need help? Contact support

Is an electronic signature legally binding?
Yes. Under the ESIGN Act (15 U.S.C. §7001) and state UETA laws, electronic signatures are generally enforceable if intent, consent, attribution, and record retention requirements are met.
Do I need a notary or witnesses?
Not usually for standard fellowship agreements, but certain states or specific clauses (power of attorney, real-estate-related terms) may require notarization or witnesses—check state law for special forms.
How soon must Form I-9 be completed?
Complete Sections 1 and 2 within three business days of hire and retain as required; keep I-9s for 3 years after hire or one year after termination, whichever is later.
Can the agreement be changed after signing?
Yes, by mutual written amendment signed by all parties. Unilateral changes are ineffective unless the agreement explicitly grants that right and complies with governing law.
How should I store signed copies?
Store signed PDF/A copies in secure systems with access controls and an audit trail. Maintain retention dates per IRS, HIPAA, or other applicable rules.
What if the fellow is a contractor vs employee?
Worker classification affects tax withholding, benefits, and legal obligations—consult counsel and follow IRS and state guidance when labeling and documenting the relationship.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now