Deal Memorandum
(For Performer Agreement Between Actor and Motion Picture Studio)

Summary

This template is a deal memorandum (also referred to as a deal memo) of certain principal terms between a motion picture studio and performer and is meant to precede the anticipated preparation and execution of a fully negotiated agreement. This template includes practical guidance, drafting notes, and an optional clause. This memorandum is intended to provide a summary of key negotiated points such as compensation, credit, and reimbursement of expenses. Such deal memos are often used as the initial step in the contract preparation process. They may also be used to establish the central deal points when production is imminent and the studio needs the performer to commence services immediately, since the parties may be willing to have the performer commence services upon full execution of a deal memo. This template may also be adapted for use by a performer's loan-out company. As with directors and producers, based upon considerations of tax factors and liability, it is not uncommon for a performer to form a loan-out company which then provides his or her services to the studio. In such cases, modify this template so that the studio enters into an agreement with the loan-out company ("Lender"), and require the individual performer to sign an Inducement Letter (set forth in Optional Exhibit). If for some reason the Lender loses its entity status and/or develops a legal impediment that prevents it from fulfilling its contractual obligations, the Inducement will require the performer to fulfill the Lender's obligations directly to the studio, and, by the same token, the studio will have recourse directly to the individual performer. For a collection of content related to motion picture production, see Motion Picture Production Resource Kit. For additional guidance on motion picture performer agreements, see Motion Picture Production Agreements and Documents — Talent Agreements and Entertainment Industry Contracts P 11.01. For a long form agreement between a performer and studio, see Performer Agreement (Between Actor and Motion Picture Studio, Long Form). For a long form agreement between a performer and an independent production company, see Performer Agreement (Between Actor and Independent Production Company, Long Form).