An agreement between a artist and a manager for management services, will help both parties understand their responsibilities; and also can stands as the final voice in the face of controversial occasions.
Most agreements outline scope of representation, terms of authority, rights and compensation, and other important clauses.
For this issue, I have dissected a standard Artist Management Agreement from the SEC.gov’s website, If you’re just starting your journey, or have been on your journey with out one of these; I hope this give you a jump start towards progression.
Exhibit 4. (b)(ii).1 Artist Management Agreement
- SERVICES OF THE MANAGER
- RIGHTS AND AUTHORITY OF THE MANAGER
- FIDUCIARY RELATIONSHIP
- MUTUAL REPRESENTATIONS AND WARRANTIES
- GENERAL PROVISIONS
- WITNESS WHEREOF
- SIGNED, SEALED AND DELIVERED
Many artist operate without an agreement with their manager; Most of the time, their manager is a close friend or family member. I see it all the time; new artist/group makes a song, starts building a buzz, “manager” is asked/or asks to comes in to help out, and as soon as the money starts rolling, issues arise!
This may, or may not, be due to the lack of an agreement, but most certainly will help resolve issues if, or when, they arrive.
This agreement defines the most important responsibilities of both artist and manager; the exact services of the manager and expectations of the artist; the manager’s rights and authorities in regards to revenue generating opportunities; the term, or length, of the agreement, compensation in percentages of revenues, or profits; manager accounting responsibilities, who will cover expenses, who will sign for loans, how to termination the agreement, and more.