Thread Help due today im lost with this assignment

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1 Posted on 05/02/2009 at 13:04:48

Let me know what you think of this "Demo Deal" Ok so basically i am suppose to advise the band on whether or not the terms of abc's(fake record company) offers are reasonable, if you think a particular provision is not reasonable, explain why and suggest terms for White Daffadil(fake band) to include in their counterproposal to ABC.

And here is the "Demo Deal"

ABC RECORDS

To: “White Daffodil”

1. Term: One (1) Initial Period with Eight (8) Consecutive Options to renew for eight (8) Contract periods. Each option to renew is at Label’s sole election. The term of each Contract Period is eighteen (18) months from the date of release of the LP from the preceding Contract Period. The Label may require a “Greatest Hits” or a “Live” Album at any time throughout the Term. The delivery of each “Greatest Hits,” or “Best Of” Album will extend the applicable Contract Period by a minimum of six (6) months and a maximum of two (2) years.

2. Creative Decisions: All creative decisions (i.e. selection of individual producers and songs, choice of recording studio, selection of musicians, video director, video concept, etc.) will be determined solely by the Label.

3. Advances/Royalties: The Label offers no upfront advances for Albums 1-3 but agrees to pay for all approved recording costs. In respect of Albums 3-9, The Label will pay the group members an advance Ten Thousand Dollars ($10,000) per album provided that the USRNC of the preceding album exceeds of Fifty Thousand (50,000) units over the previous two consecutive semi-annual accounting periods. In terms of a record royalty, the Label offers:

Album: Seven Percent (7%) of the retail selling price.

Single: Five Percent (5%) of the retail selling price.

All royalties will be payable on Eighty Percent (80%) of Net Sales.

PLEASE RESOND ASAP THIS IS DUE TODAY. I have done loads of research for the past 3 hours almost and still cant come up with a counterproposal please help.

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