Hello everyone, I recieved a manager contract, i'm going to seek professional help, but i just wanted to find what does this sentence mean. (The agreement shall continue for (1) year (hereinafter the "initial term") from the date thereof, and shall be renewed for three (3), one (1) year periods" automatically unless either party shall give written notice of temination to the other not later than 30 days prior to the expiration of the initial term or the current renewal period, as applicable, subject to the terms and conditions hereof. CAN SOMEONE PLEASE TRY TO HELP ME FIGURE THAT OUT? THANKS
Management contract, need help
- Thread starter Babycham
- Start date
Track Rat
Just Your Average Sized Member
I believe the jist of it is you have a one year contract and at the end of the first year the contract will be automaticly renewed unless you or the second party decide not to and notify the other within 30 days of renewal time. This continues like this for three more years.
Track Rat is correct in his interpretation.
Make sure if you do choose to give notice of intent to terminate the contract, that you do it in writting - prior to the 30 day period.
Make sure you have an attorney (preferrably with background in the entertainment industry) review the contract!!!
It is not worth risking a carreer to save $300 for an attorney.
Make sure if you do choose to give notice of intent to terminate the contract, that you do it in writting - prior to the 30 day period.
Make sure you have an attorney (preferrably with background in the entertainment industry) review the contract!!!
It is not worth risking a carreer to save $300 for an attorney.