The third contract Zhang Yang mentioned is the version with the harshest terms. It was initially created to politely discourage certain unwanted streamers, making them give up.
The third contract doesn’t offer a base salary, and the guild takes half of the live stream reward earnings. Besides, there are many relatively harsh detailed terms.
In short, the contract’s strictness matches that of mainstream MCN companies, yet it lacks the signing bonus offered upfront by others. Normally, it’s hard for someone to agree to such a contract.
More than an hour later, Ding Wen and Chen Xueqiang arrived at Zhang Yang Company’s office location, guided by the receptionist, they entered Zhao Bingguang’s office.
This was the first time the two of them visited the fishing tackle company co-owned by Zhang Yang and President Zhao. Once inside, they looked around. Many people were busy with their work outside, giving the duo a new understanding of the company’s professionalism and scale.
"Hey, Old Zhao—no wait, we’re here, I should call you President Zhao! Our company has really made it big!" Ding Wen quickly praised Zhao Bingguang after meeting him.
Old Zhao got up to greet them and said, "Have a seat! Zhang Yang called me earlier. What’s the situation? Weren’t you doing well before? Why did you suddenly decide to join our guild?"
Ding Wen waved his hand, "Don’t mention it, we were indeed getting by before, but it’s been a downhill path lately. There’s no choice but to switch now!
Now, in the outdoor fishing track on Kuaishou, Zhang Yang’s main account is at the top, like a big tree to lean on, so the two of us discussed it and came over to join you!"
"Uh, has Zhang Yang mentioned the situation about the MCN company to you? You’re welcome to join, but there are many things I should tell you upfront!" Zhao Bingguang expressed a slightly troubled look.
"What’s wrong? We’re all familiar folks. Zhang Yang immediately agreed and asked us to come to you for details, but he didn’t mention specifics!" Chen Xueqiang asked, puzzled.
Seeing that the groundwork was laid, Old Zhao continued, "You two aren’t outsiders, so I’ll speak frankly without beating around the bush.
Regarding the MCN company, besides Zhang Yang and I having shares, there is a major shareholder who’s a senior management at Kuaishou. I won’t say who exactly; it’s a bit sensitive.
Friendship is friendship, business is business, two separate matters. Regarding MCN contract terms, I’ll do my utmost to offer sincerity within my authority, but there are several harsh terms that I can’t change!"
"Uh..." Upon hearing that the MCN company has a major shareholder from Kuaishou’s senior management, Ding Wen and Chen Xueqiang couldn’t help but exchange glances.
This was crucial information; it not only explained the new company’s organizational structure but indirectly revealed the guild’s strength. Having internal executives as shareholders means foreseeing platform trends and lots of hidden benefits down the line.
"Which terms are these?" Ding Wen continued to inquire.
Old Zhao casually opened a file folder behind him, pulled out a pre-printed sample contract, and handed it over.
"Here’s the sample contract content, take a look yourselves!"
Upon receiving the third contract, Ding Wen and Chen Xueqiang huddled together to examine it closely. Read full story at 𝓷𝓸𝓿𝓮𝓵·𝕗𝕚𝕣𝕖·𝙣𝙚𝙩
Drafted by professional legal personnel, the contract’s terms and details are quite professional and a bit convoluted, but the general content can still be understood.
In the contract, mostly rights belong to the MCN company, while obligations only include annual business training, periodic redirection of the company’s main account (without guaranteeing specific results), preferential resource connectivity under equal conditions, among others.
Before reaching out to Zhang Yang and Old Zhao, Ding Wen and Chen Xueqiang had already briefly understood the market agreement. Generally in signing with a guild, half of the rewards are handed over, there’s a base salary, and performance limitations.
Broadly speaking, it doesn’t deviate much from this contract, except the terms are slightly stricter. For two non-professionals, it’s still somewhat acceptable.
"The contract seems to be missing a signing bonus?" After several reviews, Ding Wen couldn’t help asking.
Upon being asked this, Old Zhao smiled humbly as though he’s heard a joke.
"In this outdoor fishing track, signing is aimed at the guild’s supply chain behind them and the convenience of funneling fans during the early stages with help from the company account matrix. You guys aren’t entertainment streamers showing off to get signing bonuses, are you?
No matter who signs, there’s no signing bonus. Unless you’re a top streamer with your own fans in the track."
"Uh, alright, looks like we’re uninformed!
Also, I didn’t understand one section; what do these terms about the exit mechanism after signing mean?"
Chen Xueqiang nodded and shifted the topic to the next question.
"In principle, after signing, within the contract term, unilateral termination is not permitted! This is a mandatory requirement because the company provides certain extra support during the initial phase.
If termination must occur, you’ll bear breach of contract liability! The contractual clause stipulates compensation is 50 times the highest monthly revenue during the natural contract month.
For instance, if during the contract, your highest income for a month was 100,000, then unilateral termination compensation will be 5 million. The better the performance, the more to pay!
This is sensitive; you should be very clear about it before signing!"