48-2610 Required form of contract. - Nebraska Statutes

48-2610. Required form of contract.(1) An agency contractmust be in a record, signed or otherwise authenticated by the parties.(2) An agency contractmust state or contain:(a)The amount and method of calculating the consideration to be paid by the student-athletefor services to be provided by the athlete agent under the contract and anyother consideration the athlete agent has received or will receive from anyother source for entering into the contract or for providing the services;(b) The name of any personnot listed in the application for registration or renewal of registrationwho will be compensated because the student-athlete signed the agency contract;(c) A description ofany expenses that the student-athlete agrees to reimburse;(d) A description ofthe services to be provided to the student-athlete;(e) The duration of the contract;and(f)The date of execution.(3)An agency contract must contain, in close proximity to the signature of thestudent-athlete, a conspicuous notice in boldface type in capital lettersstating:WARNINGTO STUDENT-ATHLETEIFYOU SIGN THIS CONTRACT:(1)YOU MAY LOSE YOUR ELIGIBILITY TO COMPETE AS A STUDENT-ATHLETE IN YOUR SPORT;(2) IF YOU HAVE AN ATHLETICDIRECTOR, WITHIN 72 HOURS AFTER ENTERING INTO THIS CONTRACT, BOTH YOU ANDYOUR ATHLETE AGENT MUST NOTIFY YOUR ATHLETIC DIRECTOR; AND(3) YOU MAY CANCEL THISCONTRACT WITHIN 14 DAYS AFTER SIGNING IT. CANCELLATION OF THIS CONTRACT MAYNOT REINSTATE YOUR ELIGIBILITY.(4) An agency contract that does not conform to thissection is voidable by the student-athlete. If a student-athlete voids anagency contract, the student-athlete is not required to pay any considerationunder the contract or to return any consideration received from the athleteagent to induce the student-athlete to enter into the contract.(5) The athlete agentshall give a record of the signed or otherwise authenticated agency contractto the student-athlete at the time of execution. SourceLaws 2009, LB292, § 10.