I have just received a management contract, and I have a few questions/concerns.
1) There is a clause that reads "Artist shall pay all documented reasonable and necessary costs incurred by Manager in connection with Manager's duties". He says these are for expenses out of the ordinary, such a fedex charges or dinners, that they would be no more than a few hundred dollars in total, and 'normally' discussed prior. Is this standard, or some kind of red flag? Obviously this would need to be capped and defined, so I'm not being responsible for outrageous charges (ie, photocopying, 'script evaluation fees', etc)
2) It reads "It is agreed and understood that Manager shall be attached as a co-executive producer on Artist’s television and film projects, subject to good faith negotiations and third party approval." Is it safe to assume that's OK, because 'third party approval' would mean this is not a deal-breaking requirement? I certainly wouldn't want to push away a potential buyer due to an unwanted attachment.
3) Is it standard that the manager collects all monies/salary payable to client directly, takes his 15 percent first, and then forwards the client the remainder? Or should it be the other way around?
4) Is it unreasonable for me to insist that a pre-existing project (which is currently in pre-production) be excluded?
Any help would be greatly appreciated.
1) There is a clause that reads "Artist shall pay all documented reasonable and necessary costs incurred by Manager in connection with Manager's duties". He says these are for expenses out of the ordinary, such a fedex charges or dinners, that they would be no more than a few hundred dollars in total, and 'normally' discussed prior. Is this standard, or some kind of red flag? Obviously this would need to be capped and defined, so I'm not being responsible for outrageous charges (ie, photocopying, 'script evaluation fees', etc)
2) It reads "It is agreed and understood that Manager shall be attached as a co-executive producer on Artist’s television and film projects, subject to good faith negotiations and third party approval." Is it safe to assume that's OK, because 'third party approval' would mean this is not a deal-breaking requirement? I certainly wouldn't want to push away a potential buyer due to an unwanted attachment.
3) Is it standard that the manager collects all monies/salary payable to client directly, takes his 15 percent first, and then forwards the client the remainder? Or should it be the other way around?
4) Is it unreasonable for me to insist that a pre-existing project (which is currently in pre-production) be excluded?
Any help would be greatly appreciated.
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