The Personal Management Contract
Each payment shall be accompanied by a duplicate of the statement rendered to the undersigned." (b) The interest and compensation set forth hereinabove which shall be paid to Manager shall be a continuing interest, and shall not be revocable at Artist's pleasure. It is intended by Artist to create an agency coupled with an interest and the appointment and engagement of Manager and Manager's right to receive the Commission as provided for herein are the inducements for Manager to enter into this Agreement. (c) In the event Artist receives Gross Compensation with respect to which Manager's Commission has not been paid pursuant to paragraph 4(a), above, Artist shall, within fifteen (15) days after the close of each monthly period during the Term of this Agreement and thereafter so long as Artist collects or receives such Gross Compensation hereunder, render a written accounting statement to Manager setting forth all Gross Compensation received by Artist hereunder during the preceding month, specifying the source thereof and Manager's Commission hereunder and including the amount of any expenses and any loans or advances paid by Manager to Artist or on Artist's behalf. Each such accounting statement shall be accompanied by payment to Manager of the sum thereon shown to be due to Manager for such accounting period. [Alternate to paragraphs 4(a)-(c): Artist and Manager shall select an accountant or business manager ("Accountant") who shall have the right to collect and receive, on Artist's behalf, all of Artist's Gross Compensation hereunder and deposit such Gross Compensation in one or more segregated bank accounts. Manager shall have the right to approve Artist's selection of an Accountant, it being understood and agreed that Manager approves ________________, the accountant presently engaged by Artist. Artist shall notify and direct any and all third parties to pay all Gross Compensation directly to Accountant and shall authorize, direct and cause Accountant to pay Manager all Commission due hereunder as well as any reimbursement or payment for expenses pursuant to paragraph 3(d), above, from the first monies received within each month during the Term. Such payments shall be accompanied by a written accounting statement setting forth all Gross Compensation received by the Accountant on Artist's behalf during the preceding month and specifying the source thereof.]
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