Hi there
A friend of mine is about to sign with an agent (it's not me, honest, I'd be jumping up and down if it was!).
She wondered if the following clause about 50/50 split is standard:
The agreement is effective immediately and will continue until either you or we have terminated it by giving to the other 28 days notice in writing.
It is understood that following termination we will continue to function as agent and to receive our commission irrevocably on all contracts under negotiation or concluded during the life of this agreement or which later extend, renew or replace such contracts.
It is understood following termination if there are any unsold foreign, American or film rights on titles where UK rights have been sold by ******* Literary Agency and (think that should be any?) commissions received by the new agency will be split 50/50.
Any failure to enforce any of these terms will not operate as a waiver of the right to do so on another occasion.
Thanks!
A friend of mine is about to sign with an agent (it's not me, honest, I'd be jumping up and down if it was!).
She wondered if the following clause about 50/50 split is standard:
The agreement is effective immediately and will continue until either you or we have terminated it by giving to the other 28 days notice in writing.
It is understood that following termination we will continue to function as agent and to receive our commission irrevocably on all contracts under negotiation or concluded during the life of this agreement or which later extend, renew or replace such contracts.
It is understood following termination if there are any unsold foreign, American or film rights on titles where UK rights have been sold by ******* Literary Agency and (think that should be any?) commissions received by the new agency will be split 50/50.
Any failure to enforce any of these terms will not operate as a waiver of the right to do so on another occasion.
Thanks!
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