Hi Yoni,
My opinions…
I’m not aware of any fully paid editors receiving residuals for projects. My experience is that they are vastly “work for hire” team members. I wonder why he is. This would be a “work for hire” and you would not have any copyright ownership. (This is a big discussion topic on this board. I believe that “the act” of being hired constitutes a “work for hire agreement” even without a signed document. See www.copyright.gov).
I would suggest splitting up the residuals almost evenly to all major production team members (i.e., Executive Producer, Producer, Writer, Director, Cinematographer/Videographer, Editor). (If your Co-Editor wants some, then I think that should come out of your piece of the cake). I say “almost evenly” because the Executive Producer is the one who will probably take on the most risk and will also be the one who takes on the “final responsibility” of the project.
Also remember, if you become a partner on the project (versus being a hire) you and your Co-Editor become project owners and thus become a targets for any legal issues (and can be sued along with the rest of them if things aren’t done correctly).
Good luck,
Bruce
Bruce Bennett
Bennett Marketing & Media Production, LLC
