Ed Limato Stars in "The Seven Year Rule"

Wouldn't "The Seven Year Rule" make a great title for some kind of wacky romantic comedy about a couple who breaks up after a long, storied marriage, realizes the folly of their split, and then gets back together? But that obviously wasn't the denouement for Ed Limato and talent agency ICM, which completed their arbitration hearing yesterday with Limato declaring victory. The much-revered agent is now free to leave ICM and can potentially take his client list of first dollar gross players with him--Denzel Washington, Mel Gibson, Steve Martin, among others. It does seem fitting that it was an interpretation of the Olivia de Havilland decision (which the Gone With the WInd star championed in 1947 after Warner Bros. continued to suspend and extend her contract), or the "seven year rule" (which falls under California Labor Code Section 2855), that allowed Limato to exit his contract, a dramatic ending to an association with ICM that spanned 32 years (Limato began his career in the ICM mailroom in 1966). The next big question is where will Limato land and which clients will come with him. Insiders are speculating WMA or UTA, but his individual clients are more of a question mark. Also, Limato is not a cheap hire, and the agencies are all currently looking to cut costs in anticipation of a possible strike or slowdown next summer unless the studios and labor unions can come to terms on contracts.

Arbitrator sides with Ed Limato [Variety]
Arbitrator: Limato Free to Exit ICM [Hollywood Reporter]