Advice needed on doing a Deal with a band !

[SUPADUPA]

Ok so there's this band that I spotted in a club one night , playing support .
I liked them and asked them if they wanted to do some recordings .
We recorded four tracks , they paid me a very small token fee ,
One of the songs got picked-up by collage radio and became a kind of "hit"
on the strength of that this band got signed to a Indie label .
They came back to me and we recorded two more songs at a reasonable rate.
These six songs where realesed as an EP , which sold well I'm told .
The band have toured extensively , even to japan , made video's etc. ..
all this over the last two years .

The label was closed recently , the band want to make their debut album ..
and this is where the advice come's in.
They have asked me to help them make the album
which they will then shop around .. to get a new deal ,
and when they get signed I will get paid.
What kind of deal would be fair in this situation?

Thanks !

[djui5]

Write up a bill for your normal studio rates, due upon them receiving advances, or from the first sales of any music recorded. Get a good lawyer to write up the contract. The labels will probably try to squirm you out of the deal though...

A flat fee is always best. Say it takes you 100hrs to do the recordings, then bill them at $75 an hour, so they would owe you $7,500.