Header Banner Made with MyBannerMaker.com! Click here to make your own! (BRICK CITY N.J.BORN & RAISED FAM BUT NOW A DETROIT MI. REZ )IF your a serious ARTIST and you know your BIZ then you'll understand ALL OF THIS if you dont understand then your SERIOUSLY in need of a LAWYER & MANAGER ! .........As a Personal Manager i have often told my
artist clients that entering into an agreement
with a personal manager is a lot like getting
married. It is a particularly intimate
relationship with a commitment for a long
period of time. Furthermore, the artist-
manager relationship tends to have
ramifications after the contract has ended.The personal manager is often the focal
point between the other team members and
the artist. Generally speaking, a manager's
duties involve advising, counseling and
guiding the artist towards the furtherance of
his or her career. Depending on the parties
involved, the manager may be very hands-
on (i.e., selecting wardrobe, publicity
materials and advising on creative issues)
or, at the other end of the spectrum, mainly
involved in business transactions for the
artist.Most management agreements have a fixed
term of 3 to 5 years, sometimes with options
for additional time periods (or in the case of
musical artists, album cycles). One way to
reduce a lengthy term is to include a
provision that permits the artist to terminate
the agreement if he or she should fail to
earn a minimum level of income during the
first 2 years. Yet another alternative would
be to include a provision that provides for
the termination of the agreement certain
identified events do not occur. For example,
if the artist is a musician, management
agreement might state that the agreement
may be terminated if a major label recording
contact is not entered into within 18 months.Management agreements typically seek to
grant a manager a power-of-attorney
provision which can be quite broad or
narrow depending on the negotiating
strengths of the parties. A limited power of
attorney permits the manager to carry on the
day-to-day business affairs of the artists; i.e.
endorse checks, sign performance
agreements, dealing with performing rights
societies, etc. A general power of attorney
would, in addition to the above, also permit
the manager to bind the artist to long term
commitments and even commence litigation
without the artist's knowledge. The artist
should require that he or she has final
approval over "creative matters" and the
manager is not permitted to sign, on the
artist's behalf, any recording, publishing,
merchandising or similar long-term
agreement.Personal managers invariably provide their
services in exchange for a percentage of the
artist’s gross earnings. Generally, the
percentage can be anywhere between 15%
and 25% depending on the relative
experience of the parties.Often it is the case that certain expenses,
costs, and disbursements incurred in
connection with the artist's professional
career would be deducted prior to the
calculation of the personal manager's
compensation under the terms of the
agreement. These deductions should
include most monies paid on artist’s behalf
to third parties.The most highly-negotiated provision in any
management agreement is post-term
compensation. While manager will argue for
a perpetual commission on income derived
from any contracts that he negotiated during
the term, the artist will understandably be
concerned about paying double-
commissions to the former manager and a
new manager. he or she did during the term
but paid less or not at all after they've
stopped working for you. There are several
compromises that can be reached on this
issue, usually centering around what is
known as a "sunset clause". In the manager
is granted a post-term commission that
diminishes over time and also may be limited
to certain specified revenue sources.Because of the economic risk inherent in the
management agreement, a new artist will
find it very difficult to attract the attention of
an experienced manager until the artist is
generating income or at least creating some
real "buzz". Therefore, sometimes an
inexperienced, but enthusiastic novice is
called upon to be a manager in the early
stages of the artist’s career.
