An artist and gallery agreement should, at the least, cover what percentage of the proceeds shall go to the artist and the gallery in the event of a sale of the artist's work. A typical split is 50-50 between the artist and gallery.
If there are expensive fabrication or framing charges, such as bronze foundry expenses in the creation of a sculpture, the agreement should make clear who pays for it. Whether the artist or gallery pays, the agreement can specify that these charges are deducted from the proceeds if the work is sold, prior to dividing the money between artist and gallery.
The agreement can also cover the exhibition schedule, giving an outline of how many solo or group shows the artist can expect over a given period of time. For example, many galleries give each of the artists that they represent a solo show every two years. In addition, listing who is responsible for transporting the work to the gallery and who pays for crating (if necessary) should also be addressed. There are no solid rules around these aspects; they should be mutually agreed upon by both parties.
The extent of the gallery's representation should be clear. For instance, a gallery may demand exclusive global representation. For this, the artist should be assured of a reasonable income. More likely, the gallery would request exclusivity for a particular geographic area, such as a state, and the artist would agree to not show in other galleries in that state.
It is in both the gallery's and the artist's interest the public is informed about the work and exhibitions of the artist. Artist and gallery should agree about who takes care of what. For instance, the artist may need to provide a mailing list of former patrons and followers to the gallery. The gallery may agree to place advertisements in art periodicals to promote shows, and contact critics and curators to generate interest in the artist's work.