§ 78C-94. Required form of contract. - North Carolina Statutes

§ 78C‑94.  Required formof contract.

(a)        An agency contractmust be in a record, signed or otherwise authenticated by the parties.

(b)        An agency contractmust state or contain the following:

(1)        The amount andmethod 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.

(2)        The name of anyperson not listed in the application for registration or renewal ofregistration who will be compensated because the student‑athlete signedthe agency contract.

(3)        A description of anyexpenses that the student‑athlete agrees to reimburse.

(4)        A description of theservices to be provided to the student‑athlete.

(5)        The duration of thecontract.

(6)        The date ofexecution.

(c)        An agency contractmust contain, in close proximity to the signature of the student‑athlete,a conspicuous notice in boldface type in capital letters stating:

WARNING TO STUDENT‑ATHLETE

IFYOU SIGN THIS CONTRACT:

(1)        YOUSHALL LOSE YOUR ELIGIBILITY TO COMPETE AS A STUDENT‑ATHLETE IN YOURSPORT;

(2)        IFYOU HAVE AN ATHLETIC DIRECTOR, WITHIN 72 HOURS AFTER ENTERING INTO THISCONTRACT, BOTH YOU AND YOUR ATHLETE AGENT MUST NOTIFY YOUR ATHLETIC DIRECTOR;

(3)        YOUWAIVE YOUR ATTORNEY-CLIENT PRIVILEGE WITH RESPECT TO THIS CONTRACT AND CERTAININFORMATION RELATED TO IT; AND

(4)        YOUMAY CANCEL THIS CONTRACT WITHIN 14 DAYS AFTER SIGNING IT. CANCELLATION OF THISCONTRACT SHALL NOT REINSTATE YOUR ELIGIBILITY.

(d)        An agency contractthat does not conform to this section is voidable by the student‑athlete.If a student‑athlete voids an agency contract, the student‑athleteis not required to pay any consideration under the contract or to return anyconsideration received from the athlete agent to induce the student‑athleteto enter into the contract.

(e)        The athlete agentshall give a record of the signed or otherwise authenticated agency contract tothe student‑athlete at the time of execution.

(f)         The waiver ofattorney‑client privilege does not affect those privileges between clientand attorney when the attorney is not an athlete agent. (2003‑375, s. 2.)