What do you mean by residuals in a contract?
What do you mean by residuals in a contract?
The term “Residuals” means any information that is retained in the unaided memories of the Receiving Party’s employees who have had access to the Disclosing Party’s Confidential Information pursuant to the terms of this Agreement.
Who is entitled to residuals after a performer dies?
The person (s) who are designated by a performer to receive that performer’s residual earnings after his or her death. Revenue derived from the license or sale of a project. This formula depends on the type of product, parties to the agreement and market of exploitation. Refer to the Codified Basic Agreement for more information.
Do you have to pay royalties for residuals?
The Receiving Party shall have no obligation to pay royalties for any use of Residuals. However, this Section 2.4 does not grant the Receiving Party any rights under any patents or copyrights of the Disclosing Party. Residuals.
Who are the unions that pay residuals to actors?
Residuals are administered by the unions—SAG-AFTRA, the Directors Guild of America (DGA), and the Writers Guild of America (WGA)—for their members, who are paid between one and four months after the air date.
The term “Residuals” means any information that is retained in the unaided memories of the Receiving Party’s employees who have had access to the Disclosing Party’s Confidential Information pursuant to the terms of this Agreement.
When to report residual payments and holding fees?
1. Residual payments* and holding fees are considered wages for unemployment insurance purposes. You are required to report these wages to the Department so that your eligibility for benefits under Section 1279 can be determined. 2. When reporting residual payments and holding fees to the Department, please provide the following information: a.
What’s the difference between residual and reuse payments?
* Residual payments, as used in these instructions, refers to additional compensation for the reuse or resale of recorded material, such as television programs or commercials, films, or phonograph records. Some of the other terms for this type of compensation are use, reuse, and rerun payments or fees.
Is there a residual information clause in a NDA?
Although the terms of the NDA are normally crafted in favour of the Disclosing Party, there’s one clause that could potentially result in the cancellation of the benefits of the agreement. This clause is generally known as the “residuals” clause or “residual information” clause.