ebake02 wrote:jrnyman28 wrote:Monker wrote:
This is exaggerated. If you read the agreements, this lasted for three albums and three tours...each one Perry received less. So, Perry stopped receiving money for touring and album sales back during the Augeri years....after the Generations album/tour Perry stopped receiving money. So, for the entirety of Arnel's run, Perry has only received normal Journey royalties.
My understanding is that it reduced with each album or tour until it reached, like, 12% in perpetuity.
That’s how I understood too, I can’t picture Perry letting Neal and Jon play the dirty dozen on tour every year without getting a cut of the revenue considering he co-wrote a large portion of the set list.
You guys are correct. It drops down to %12.5 percent of the net amount that either Neal or Jonathan make, whichever is most. So, if Neal makes $500,000 from the tour...Steve gets $500,000 x .125 which is $62,000 from the tour profits. The same for album sales and merchandise, and whatever can fit into miscellaneous. So, Perry gets 1/8 of all Journey revenue.
Also, when I reread Neal's original suit, he quoted both the Elmo partners deal and the 1998 exit regarding trademarks. So, they should know that Perry had rights to the trademark and the unanimous consent, etc, from the Elmo Partner deal. It was in the last lawsuit from Neal. They quoted the 1998 deal stating that Perry waived this clause for any NEW material. But, he kept it for OLD material.
So, I am starting to think Perry has a real good case here. Neal should just settle and agree to refile trademarks for old songs/albums using Elmo Partners so they can abide by the Elmo Partners contract and allow Perry a say. If there is any evidence that Perry waived this clause, or it changed, or it no longer applies for whatever reason, I have not seen it.