(c) Artist understands and agrees that Manager shall not render and shall not be obligated to render the personal management services contemplated in this Agreement with respect to the aforesaid non-commissionable activities, and in connection therewith, Artist shall have the right to seek and retain independent advice.
2. Discussion. It is not unusual for the manager to be a part of or otherwise involved with a company that promotes entertainment programs or is otherwise involved in the music industry. For example, if the manager owns a record company, any royalties paid by such record company to the artist should not be included within Gross Compensation for the purpose of determining the manager's compensation. Otherwise, the manager is, in effect, double dipping. Furthermore, given the relationship between the manager and the company, the artist should be entitled to seek advice from his or her attorney prior to being required to perform under any contract with such company.
I. Accounting
1. Sample Provision.
(a) Artist and Manager shall mutually agree upon the selection of a certified public accountant (the "Accountant"), which Accountant shall be engaged at [Artist's/Manager's] sole expense. The Accountant shall have the right to collect and receive, on Artist's behalf, all of Artist's Gross Compensation hereunder and deposit such Gross Compensation in one or more separate segregated bank accounts in Artist's name. The Accountant and any and all successors shall acknowledge and assume all of the obligations under this Agreement that relate to the Accountant=s function. In this connection, Artist shall notify and irrevocably direct any and all third parties to pay Gross Compensation directly to the Accountant. Furthermore, Artist shall irrevocably authorize, direct and cause the Accountant to pay Manager the Manager's Fee and any reimbursement or payment of Expenses from the first monies received with respect to the preceding month's receipts and credits, and due Manager hereunder, within the fifteenth (15th) day of each calendar month during the Term (except weekly during any personal appearance tour) and thereafter so long as Manager is entitled to receive Manager's Fee, together with a written accounting statement. Such accounting statements shall, among other things, set forth all gross monies received by the Accountant on Artist's behalf during the preceding month, specifying the source thereof and the deductions therefrom for Manager's Fee hereunder.
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