1) Existing agency contracts with Apple will be terminated.
2) Apple will allow any other “major international ebook publisher” to terminate its agency agreement immediately. If the publishers take no action, Apple is to terminate the agreement.
3) The publishers will offer each retailer the option to terminate the agency agreement if the agreement restricts the retailer’s ability to change the price or if the agreement contains an MFN clause. If the retailer does not respond, the publisher must terminate the agreement.
4) For two years, the publishers agree to not restrict the pricing of ebooks by retailers.
5) The aggregate value of the price discounts or promotions offered by any retailer should not exceed the aggregate amount equal to the total commissions the publisher pays to that retailer over a 12-month period in connection with the sale of its e-books to consumers.
There is no monetary rebates mentioned in the Proposed Agreement (PDF). The Hachette and S&S agency pricing the US should end any day now.
“Kevin Federline’s aunt Diane Story has written an erotic novel “inspired” by the former dancer’s ill-fated marriage to Britney Spears.RadarOnline.com is exclusively reporting.”