What is an Equity contract?
What is an Equity contract?
A contract for equity is a type of employment agreement that allows employees to earn a share of ownership in your company. Typically, employers use equity agreements in addition to traditional compensation. Workers will earn the balance of their compensation through an incremental stake of company ownership.
What is an Equity guest artist contract?
The Guest Artist Agreement is used by not-for-profit educational or community theatres that occasionally employ professional actors. A stage manager contract is required when there are more than two actor contracts. This agreement contains three salary tiers based upon the number of regularly scheduled performances.
What is Equity pay for an actor?
Actors Equity Salary
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $147,500 | $12,291 |
| 75th Percentile | $100,000 | $8,333 |
| Average | $79,926 | $6,660 |
| 25th Percentile | $35,500 | $2,958 |
What is an Equity showcase?
The AEA Showcase Code allows Equity members to participate in productions in small theatres without the benefit of an Equity contract. The members receive no salary or benefits, and the performance and rehearsal schedules are limited in number.
Is it legal to work for equity?
But, is this practice legal? Generally, the answer to this question is no. Under state and federal law, employees must be paid at least the minimum wage in cash. Providing equity, no matter how much the equity is worth, does not fulfill this requirement.
What is a LORT B contract?
The LORT contract requires B+ theaters to employ more professionals to nonprofessionals—starting at 13:1—than lower theaters, starting at 11:1 for B, 9:1 for C, and 7:1 for D. Emily Van Scoy, general manager of the LORT-B Hartford Stage in Hartford, Conn., emphasizes that these letters are not a ranking system.
How much money do stage actors make?
Off-Broadway equity theater actors earn a minimum of $1,145.70 per week. If they are required to work on Sundays, that rises to $1,191.20. Equity actors who are on call earn a minimum of $238.69 per day. Broadway actors command a higher salary, a minimum of $2,034.00 per week.
How does equity get paid out?
How is equity paid out? Companies may compensate employees with pure equity, meaning they only pay you with shares. This may be a risk, but it may create a large payout for you if the company is successful. Other companies pay some shares supplemented with additional compensation.
Can you pay employees in equity?
Equity compensation is non-cash pay that is offered to employees. Equity compensation may include options, restricted stock, and performance shares; all of these investment vehicles represent ownership in the firm for a company’s employees. At times, equity compensation may accompany a below-market salary.
https://www.youtube.com/watch?v=E0UYGwN07co
