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Mortimer Brandt Gallery 

New York 22                                 
15 East 57th Street                        
TEL PLAZA 3-3455                      
CABLE MESBEE, NEW YORK                 

London
W.E DUITS
6, DUKE STREET
LONDON, S.W.I.

August 7, 1944

Dear Mrs. Parsons,

I am outlining the tenor of our agreement to cover the operation of the contemporary section of the Mortimer Brandt Gallery.

You will take over the management of the contemporary department under my supervision about the middle of September 1944 on a pure commission basis. There will be no drawing account. The gross profit from the sale of modern art will be divided between ourselves as follows:

When a sale has been consummated by being paid in full, 15% will be retained by the gallery to cover overhead; the balance of 85% will be dived between ourselves equally. This 15% will apply to sales in any one year ( fiscal year period September 14 to September 15 of the following calendar year ) up to $20,000. After sales of $20,000 has been reached in the fiscal year period there will not be any other deduction for overhead other than the 15% on the initial $20,000.

The expenses of exhibitions will be borne by the artist, i,e, advertising, printing, mailing and drayage to and from the gallery. These expenses are to be waived in the case of giving an outstanding artist an exhibition. This waiving of expense is to be seldom.

In the event that you sell any old masters or works of art that do not comeunder [[come under]] the classification of modern art, you are to receive 15% of the sales price when sale is fully paid for. Should you be instrumental in obtaining old art for sale, You are to receive 25% of the profit should the gallery sell and should you sell, you are to receive 50% of the profit.

We mutually agree to give each other notice of at least 90 days should either party desire to abrogate the agreement which this letter covers. 

Sincerely yours,

[[signature?]]


Agreed
____________________
Mrs. B.B.Parsons
                    

Transcription Notes:
Signature on bottom noted everything looks good