DEAL MEMO

Professor Colfin MUB 202 Music Business Contracts

ASSIGNMENT #7 DUE Monday 3/23/20

A DEAL MEMO IS AN OUTLINE OF A PROPOSED CONTRACT. It has enough specifics so that the parties understand the basic terms of their agreement including their obligations and rights. BUT – it is not a fully written out contract. It is an outline of the specifics which are meant to be the basis for the eventual contract.

EXPLOIT, Inc., a management company, owned by Frank Key, is seeking to manage JOE BOB’s career in the music business.

YOUR ASSIGNMENT IS TO Type up a deal memo, IN OUTLINE FORM, between JOE BOB, a recording and performing artist, and EXPLOIT Inc., the personal management company.

You are negotiating on behalf of EXPLOIT, INC. What do YOU specifically propose to Joe Bob as the terms pursuant to which EXPLOIT INC will manage him? Give me the specific deal points. Important to remember -- Joe Bob has been around. He is successful but not “pop star” famous. Francis (Frank) Scott Key, is a famous personal manager and an owner of EXPLOIT Inc., and has been pitching JOE BOB. Frank is the reason why Joe Bob is even talking to EXPLOIT Inc.

Make Up Specifics about the deal that is being proposed by EXPLOIT INC. Use real numbers as if you were negotiating a real deal. Use the personal management agreement found in the course materials as a guide.

Include SPECIFICS about: the Term, Options, Powers of Attorney, Territory, Approvals, Key Man, Sunset Clauses, Gross Compensation, Exclusions from Gross, and Jurisdiction. What if Frank pays to travel to LA for record label meetings, or if Joe needs Frank to buy a new stage suit? Remember things change when an Artist like Joe Bob has some clout .

Do not copy whole clauses or sentences directly from the textbook or other contracts. I can tell. Late delivery will be penalized.

Be concise and clear. TWO PAGES, MAXIMUM, no more.

SINGLE SPACE, 14 point type, ONE (1”) INCH Margins on each side.