My agent (who is wonderful, btw), is leaving the agency she's been with for a few years and opening her own agency. I have no qualms about staying with her because she's done a wonderful job for me and has super connections with major publishers who publish what I write. (Besides, she believed in me when I almost stopped believing in myself.)
However, in her contract, there is this clause which I've never seen before. Is this standard? Does it seem okay to those of you who know about contracts?
1. Author agrees to pay twenty percent (20%) of all royalties and advances on sale of movie rights over $100,000.00 and twenty-five percent (25%) of all royalties and advances on sale of movie rights less than $100,000.00.
This may be perfectly fine, but I don't remember seeing this in other contracts.