(a)Requirement.--An agency contract shall be in a record signed by the parties.
(b)Contents of contract.--An agency contract shall contain:
(1)a statement that the athlete agent is registered as an athlete agent in this Commonwealth and a list of any other states in which the athlete agent is registered as an athlete agent;
(2)the amount and method of calculating the consideration to be paid by the student athlete for services to be provided by the athlete agent under the contract and any other consideration the athlete agent has received or will receive from any other source for entering into the contract or providing the services;
(3)the name of any person that:
(i)is not listed in the athlete agent's application for registration or renewal of registration; and
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(a) Requirement.--An agency contract shall be in a record signed by the parties.
(b) Contents of contract.--An agency contract shall contain:
(1) a statement that the athlete agent is registered as an athlete agent in this Commonwealth and a list of any other states in which the athlete agent is registered as an athlete agent;
(2) the amount and method of calculating the consideration to be paid by the student athlete for services to be provided by the athlete agent under the contract and any other consideration the athlete agent has received or will receive from any other source for entering into the contract or providing the services;
(3) the name of any person that:
(i) is not listed in the athlete agent's application for registration or renewal of registration; and
(ii) will be compensated because the student athlete signed the contract;
(4) a description of any expenses the student athlete agrees to reimburse;
(5) a description of the services to be provided to the student athlete;
(6) the duration of the contract; and
(7) the date of execution.
(c) Notice.--Subject to subsection (g), an agency contract shall contain a conspicuous notice in boldface type and in substantially the following form:
WARNING TO STUDENT ATHLETE
IF YOU SIGN THIS CONTRACT:
(1) IF YOU ENTER INTO NEGOTIATIONS FOR, OR SIGN, A PROFESSIONAL-SPORTS-SERVICES CONTRACT, YOU MAY LOSE YOUR ELIGIBILITY TO COMPETE AS A STUDENT ATHLETE IN YOUR SPORT;
(2) IF YOU HAVE AN ATHLETIC DIRECTOR, WITHIN 72 HOURS AFTER SIGNING THIS CONTRACT OR BEFORE THE NEXT SCHEDULED ATHLETIC EVENT IN WHICH YOU PARTICIPATE, WHICHEVER OCCURS FIRST, BOTH YOU AND YOUR ATHLETE AGENT SHALL NOTIFY YOUR ATHLETIC DIRECTOR THAT YOU HAVE ENTERED INTO THIS CONTRACT AND PROVIDE THE NAME AND CONTACT INFORMATION OF THE ATHLETE AGENT; AND
(3) YOU MAY CANCEL THIS CONTRACT WITHIN 14 DAYS AFTER SIGNING IT.
(d) Signed acknowledgment.--An agency contract shall be accompanied by a separate record:
(1) signed by:
(i) the student athlete; or
(ii) if the student athlete is a minor, the parent or guardian of the student athlete; and
(2) acknowledging that signing the contract may result in the loss of the student athlete's eligibility to participate in the student athlete's sport.
(e) Voided contract.--A student athlete or, if the student athlete is a minor, the parent or guardian of the student athlete may void an agency contract which does not conform to this section. If the contract is voided, consideration received from the athlete agent under the contract to induce entering into the contract is not required to be returned.
(f) Copies.--At the time an agency contract is executed, the athlete agent shall give the student athlete or, if the student athlete is a minor, the parent or guardian of the student athlete a copy in a record of the contract and the separate acknowledgment required by subsection (d).
(g) Minors.--If a student athlete is a minor, the notice under subsection (c) shall be revised in accordance with subsection (d)(1)(ii).