When an artist is ready to take their musical career more serious a personal manager is usually the first and most important person to employ on your team. 5 Fundamental Points in a Personal Management Agreement is a break down of of the most important points within a personal management agreement from a seasoned Music Industry Attorney, Mario F. Gonzalez, Esq.
The five basic and vital sections of a personal management agreement are:
1) Term – length of contract.
2) Commission – how the manager will be paid and at what rate or commission.
3) Commissionable Items – Items that can be used to calculate how the manager will be paid.
4) Commissionable After the Term – Monies that the manager will still be entitled to after the Term has ended and has not been renewed.
5) Manager’s Expenses – Exactly as it sounds, what expenses will be covered on behalf of the Manager (usually expenses incurred directly related to the management of artist).
These 5 items are highly important and must be understood by all parties involved prior to signing a personal management agreement to avoid disputes later down the road.