Easily Remove Alternative Choice into the Personal Management Agreement

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How to Remove Alternative Choice into the Personal Management Agreement

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What is the Sunset Clause in the artist management contract?

SUNSET CLAUSE. The Sunset Clause entitles the manager to receive a commission from any contract negotiated during the Term, even after the management contract terminates, and is one of the most important provisions for the manager in the agreement.

What is a key man clause in a personal management contract?

A key man clause is a contractual clause that prohibits an investment firm or fund manager from making new investments if one or more key persons are not available to devote the necessary time to the investment.

What is the contract between artist and manager?

An artist manageent agreement is the contract between the artist and the person or company they choose to manage their career. The relationship between an artist and a manager can be challenging to navigate so a detailed contract helps define the roles, responsibilities, and limitations of each party.

How do you terminate an artists management contract?

The simplest way to end a management agreement is to let the time run out. The length of the agreement, that is, how long the manager has a job, is established in the term provision. It is usually in the artists best interest to keep the initial term as short as possible, perhaps one or two years.

Why would an artist want a Sunset Clause?

A sunset clause is used to reduce a managers commission in the years following expiration of the term of the management agreement. This clause reduces the percentage the artist owes to the manager over time and eventually extinguishes this obligation entirely.

What is it known as when a clause in a contract allows for an increase in a managers commission under certain conditions?

An escalator clause in a contract allows for the prices agreed upon to increase if certain market conditions change over the term of the agreement.

What is an example of a Sunset Clause in music management?

For example, a standard management commission is 20%, so the Sunset Clause might say that the manager will receive 15% for the first year after the contract ends for any earnings on deals closed by the manager, then 10% for the second year, then 5% for the third, and then nothing beyond three years.

Who is the best position to handle the artists money?

Who is in the best position to handle the money if an act generates large sums? It is the managers responsibility to limit the frequency of performances to avoid exhausting the artists energies. An unestablished artist needs a personal manager about the time the performer can earn more than union scale.

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Remove Alternative Choice into the Personal Management Agreement