IPMG: Sample Author/Agent Contract
Disclaimer: This is only a sample contract; fully executed contracts with current Intellectual Property Management Group members and their respective clients have been modified or enhanced for each client's unique contractual needs.
Dear [Name of Author]:
On the following terms, we hereby propose to act as your agent to see publication of your book and works derived from it, currently titled All Time Bestseller and referred to within this entire contract hereinafter as the "Property."
1. EXCLUSIVE AGENT: Intellectual Property Management Group, and its associated subsidiaries, (referred to within this entire contract hereinafter as "we," "our," or "us") will be your exclusive agent for the Property and any sequels to it (works on the same subject as the Property, making use of the same themes and written for the same market) for an indefinite period beginning today, [mm/dd/yyyy]. However, we will be entitled to commissions beyond termination according to paragraph 5 below.
2. TERMINATION: This agreement can and will be terminated by either party upon mailing a written 30-day notice to terminate to the other party. However, We will be entitled to commissions beyond termination according to paragraph 5 below.
3. REASONABLE EFFORTS: We will make every reasonable effort to obtain the best possible offer for the Property. We will report to you immediately any offer that we obtain, and will generally keep you informed of our activities under this contract.
4. AUTHORITY: Any offer that we may succeed in obtaining will be subject to your written acceptance, and will have no binding effect on you otherwise. You will be free to accept or reject any offer. Our authority will be limited to obtaining offers for you. We will have no power or authority to close any sale or to make any binding commitment of any kind on your behalf.
5. COMMISSIONS: If during the period of this agreement we bring you an offer that you accept in writing, and you and the publisher execute the publishing agreement, you will pay us a commission equal to fifteen percent (15%) of all proceeds received from the publisher. In addition, you will pay us a commission equal to twenty-five percent (25%) from sales throughout the rest of the world and from the sale of any serial, merchandizing, or dramatic (motion picture, television, radio) rights when a sub-agent is required to negotiate the deal. In addition, we will receive the same percentages (15% when a sub-agent is not used and 25% when a sub-agent is used) of all proceeds obtained from any subsequent sale of rights that derives from the initial sale of the Property, including, but not limited to the following: condensation, translation, anthology, periodicals, electronic formats and reproductions, television, audio and video recordings, paperback, and commercial. If you sell or transfer publishing rights in the Property to a person or company to which we submitted a proposal for the sale of rights during the term of this agreement, we will be entitled to our full commission even though the sale or transfer of rights takes place after the agreement terminates. Our right to compensation for a sale or disposition of rights under this agreement, once earned, will continue even after the agreement is terminated, and in case of our death or disability, our successor in interest will have that right and will administer the receipt and disbursement of funds under this agreement.
6. PROCEEDS: We will be entitled to collect on your behalf all proceeds derived from the sale of the Property. We will deduct our commissions and forward all sums due to you along with any statements from the publisher or licensee within three weeks of our receipt of proceeds or statements from the publisher or licensee.
7. COSTS: You will pay one hundred percent (100%) of all postage, copying, telephone, travel, and other costs specifically related to the sale of the Property. You will be required to pay 100% of these expenses only if the Property is sold. If we cannot sell the Property, you are under no obligation to us to pay these expenses. Expenses will not exceed $300 without your consent. We will be entitled to deduct these costs, as well as our commission, from the proceeds derived from the sale of the Property if you have not reimbursed us already.
[Intellectual Property Management Group or One of Its Associated Subsidiaries]
Negotiating a Book Contract: A Guide for
Authors and Lawyers, by Mark L. Levine
(click book cover for more)