(c) In the event that Artist or Manager or any party on Artist's or Manager's behalf, as the case may be, shall receive any Gross Compensation hereunder, Artist or Manager, as the case may be, shall forthwith remit all such sums directly to the Accountant.
2. Discussion. The accounting under a management contract is often a difficult and complex procedure, especially if the artist is successful and generates a varied and significant income. The typical practice is to retain an accountant to perform such accounting, to determine the amount of gross compensation, and to determine the manager=s commission. Provisions setting forth the timing and frequency of payments to the manager should also be set forth.
J. Representations and Warranties.
1. Sample Provision.
(a) Artist hereby represents and warrants to Manager that:
(i) Artist has the right to make and enter into this Agreement and to grant all of the rights herein granted to Manager, and that Artist is not now under contract to any other personal manager;
(ii) Artist will, at all times during the Term, devote time to Artist's professional career in the Entertainment Industry and to do all things reasonably necessary and desirable to promote Artist=s career and earnings therefrom; and
(iii) Artist shall not publicly appear or perform for anyone, directly or indirectly, except through Manager and under Manager=s direction, without first consulting with Manager.
(b) Manager hereby represents and warrants to Artist that:
(i) Manager has the right to make and enter into this Agreement and to grant all of the rights herein granted to Artist; and
(ii) Manager will, at all times during the Term hereof, devote time to Artist's professional career in the Entertainment Industry and to do all things reasonably necessary and desirable to promote Artist=s career and earnings therefrom.
2. Discussion. The manager will always want the musician to represent and warrant that the musician has the right to enter into the management contract. If the musician is encumbered by a prior management contract or some other restriction, it is important for the manager to find out up-front. In addition, the manager will often want the musician to commit enough time as may be reasonably necessary to adequately pursue the musician's career. As previously mentioned, if the musician requires a special consideration in connection with any consideration, such as the right to attend school or keep a day job, adequate language should be incorporated into these representations and warranties.
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