Equity Agreement Statement With Join In Los Angeles
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Equity agreements allow entrepreneurs to secure funding for their start-up by giving up a portion of ownership of their company to investors. In short, these arrangements typically involve investors providing capital in exchange for shares of stock which they will hold and potentially sell in the future for a profit.
Joining SAG-AFTRA: Eligibility and Requirements Union-Affiliated Work: Getting hired for professional work as a performer on a union project is the most common way non-union actors join. Background Actor Vouchers: Working three days (for three vouchers) as a background actor under a SAG contract makes you SAG-eligible.
Let's say your home has an appraised value of $250,000, and you enter into a contract with one of the home equity agreement companies on the market. They agree to provide a lump sum of $25,000 in exchange for 10% of your home's appreciation. If you sell the house for $250,000, the HEA company is entitled to $25,000.
If you're a member of sister unions Actors' Equity, ACTRA, AGMA, or AGVA for a year and at least one principal contract, you're eligible for SAG membership. Equity-SAG reciprocity—otherwise known as Open Access—is a particularly popular means of gaining eligibility due to the crossover between stage and screen actors.
Any former member can rejoin through Open Access, with the exception of those who left Equity and then worked on a non-union production.
Equity agreements commonly contain the following components: Equity program. This section outlines the details of the investment plan, including its purpose, conditions, and objectives. It also serves as a statement of intention to create a legal relationship between both parties.
Technically, Actors' Equity union actors are not supposed to participate in non-union productions, which includes community theater. However, if your community production meets Actors' Equity guidelines, members may apply for a Special Appearance Agreement in order to participate.
Equity's dues structure has two components: Basic dues: $176 annually, billed at $88 twice a year each May and November. Working dues: 2.5% of gross earnings under Equity contract, which are collected through weekly payroll deductions.
The Equity Membership Candidate Program (EMC) permits actors and stage managers in training to credit theatrical work in certain Equity theatres towards eventual membership in Equity. Candidates must complete at least 25 creditable weeks of work at any of the participating theatres.
