founding member clause ???

[voivod]

Fact or Fiction?

"""Here is an example.Every time Eddie takes Van Halen out .Dave gets 25% of the all profits before payouts from every show.Its called a founding member clause.Also going on right now.Sabbath.Called HEAVEN & HELL the reason.It cuts Ozzy out of any income from the shows.Because they are not touring as Black Sabbath.Cuts him out and they can play all the old Sabbath songs."""

[Jape Man]

Fiction.

[Bob_R]

Fiction.

[Unchainme]

This sounds like something Dave could've done...The guy is a pretty shrewd business man to me...So it wouldn't shock me.

[EBEVHMM2005]

I don't think so.

[Otis5150]

No way. That's a screwing on the same scale as Colonel Tom Parker and Elvis. And now way would Sam or Gary join if they had to give up that kind of scratch.

[F'nRockstar]

Sometimes if I fart in the bathtub, bubbles come up.

[79th and Sunset]

I think that is the case with VH. I think Sam and Gary got their share of $$ at the expense of the Halen bros. In other words, they (Halen Bros.) split their share of the money. It cost them more to have someone other than Dave sing for the band. I think Dave talks about it on the interview with Stern in 92'.

[the_atomic_punks_rule]

A huge fiction.

[smithjc]

Where'd you hear about this clause anyway?

[edwardv]

hmmm........time an money will tell.....damn I just want a live vh concert...I dont care who gets the money

[muffdiver]

Where'd you hear about this clause anyway?

Regis Philbin....

[Turbo]

That doesn't sound quite right. From what I've read, it would all depend on Dave's separation agreement from the band back in '86. If Dave was an equal partner and owned a share of the Van Halen band/organization, he'd definitely have a say in use of the name and image going forward. But...if he relinquished all rights when he left, he wouldn't. Since we all know he gets songwriting royalties, it's possible he didn't give up other things, too.

Dave's pretty shrewd in business matters. I'm sure he wound up with an agreement that gave him something worthwhile, but I can't believe he'd get a royalty every time the band (without him in it) played a show. But with this band, who knows for sure??

[sbrum]

This could be true, but I dont think so. Think of this... Ed wanted Mike to relinquish all rights to Van Halen to go on tour in 04. What if this is the same deal Ed is giving DLR for the current/dead tour. He (DLR) could have a founding member clause and still get royalties. Ed might be using the reunion tour as a way to wipe this all away. The tour fell apart and we dont really have the reasons why. Yes Ed went to rehab, but that should only postpone it. Dave prolly didnt sign the contract because Ed put in some crap that he pulled on Mike for the 04 tour.

Just a thought.

[te5150]

Sometimes if I fart in the bathtub, bubbles come up.

Sometimes?