Artist Management Test #2
Terms in this set (22)
The artist manager's duties should include:
1.advising the artist in all business negotiations and other matters relating to their career
2. supervise live engagements (as compared to booking)
3. assist the artist with booking agents
4. be available to confer with the artist on all matters concerning their career.
Managers typically charge a commission ranging from ______________ of the artist's gross entertainment income. However, in some instances, the successful artist may retain the manager on a fee arrangement.
15% to 25%
A power of attorney is
an instrument authorizing another person to act as one's agent or attorney.
Normally a manager is _________ for all direct expenses incurred on behalf of a particular artist
In most management agreements, the artist grants the manager an _____________________
exclusive right of representation.
The term of most management agreements ranges from_______________with option periods exercisable by the manager. From the manager's viewpoint, a long-term agreement is beneficial in protecting the manager's investment. On the other hand, the artist would prefer a shorter period.
one to five years
In most management agreements, if a manager negotiates a contract for the artist and revenue from that contract is received after the term of the management agreement expires, a manager is still entitled to a commission on that specific income, which is called a :
. A "sunset" clause in an artist management agreement
reduces over time the post-term commissions paid by the artist to the manager.
is a procedure for resolving disputes without having to resort to litigation in a court of law; The person conducting the hearing is not a judge, but rather someone knowledgeable of the subject matter in controversy.
urges both parties to agree to the terms proposed by the mediator.
A fiduciary relationship
carries a greater degree of accountability between the parties to a contract than is normally the case
A key man clause in an artist management agreement
allows the artist to terminate the contract in the event his/her manager is no longer associated with that company.
A manager can be named a ____________ under a life insurance policy insuring the artist.
An indemnity and warranty clause in a contract requires the artist to
guarantee certain facts to the manager such as the artist is not under another management agreement; the artist has the authority to execute the contract; and the artist is over the age of majority. If a claim is presented against the manager, the artist may be responsible for all damages, including attorney's fees, incurred by the manager.
Most management agreements do not require for the manager to do what? California law, however...
the manager to obtain employment for the artist; prevents a manager from booking shows for the artist.
The standard fee for a business manager with music business experience is
5% of gross income.
An artist's attorney will negotiate a reduction in the management commission in the event of the
manager's death and/or disability.
A jurisdiction provision in a contract
provides which state's laws govern this agreement.
An assignment clause usually grants the manager the right to
transfer the agreement to a third party, sometimes, subject to Artist's approval.
An audit allows the manager to
examine the financial books and records of the business manager as it relates to the artist and payment of management commissions.
Most management commissions and reimbursement of expenses are paid to the
manager monthly once gross entertainment income for a particular month can be determined.
Written notice under the management agreement is generally required
before either party can claim breach of the agreement and notice usually is through U.S. mail, overnight and/or personal delivery.
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