When actors sign on to a work project, whether that is for a movie or a TV show, they must negotiate, and agree on, work contracts that can be partly governed by the Screen Actor’s Guild (SAG) regulations and/or provisions they must draft with an experienced lawyer.
Many of these contracts will have to meet minimum conditions that the actor has set before negotiations can fully ensue. While the condition precedents can vary, some of these can include receiving the appropriate tax documentation and paperwork for the work they will complete. Moreover, it is these contracts that explain compensation, insurance premiums, the handling of work visas, and performance issues for an actor.
On smaller projects with actors who are not as expensive to attain, the producers must meet SAG’s minimum compensation for the actors. However, some actors in the industry have personally set out minimum fees that are much higher than SAG’s threshold, and this is something that must be negotiated on before work commences. These fees can be based on the actor’s previous relevant work salary, critical acclaim/achievements, and foreign value (if applicable).
Another important condition for actors is having proper insurance through their contracts. This insurance is incredibly important as it protects them from possible liabilities that may occur as a result of the actor’s performance. Furthermore, the actor will want to make sure that the insurance comes at normal premiums; otherwise, the actor could find themselves in a situation where they are the ones paying for high insurance premiums.