A book publisher contacted me about using one of my photos on a book cover....specifically one of my Barack Obama images on the cover of a political book about him. What kind of wording would you use to cover this kind of license?

Well I suppose they'll want it to say something about unlimited copies in case they sell a lot of books, but you should be sure to include "non-exclusive" and the fact that you are not transferring copyright but merely licensing the image to the publisher.

Join PPA and look into their archive of image usage forms.

Yes, please make sure you follow good advice on this Misty. This could be really big for you. I'm so happy!

You need to get answers to the following (they should be used to the terminology):

Exclusive/Non Exclusive?
Media/Editions: Hardback, Softback, Hardback+Softback
Placement: Front/Back Cover/Internal
Size: Full/half/quarter/eighth page etc
Print Runt to: 100K/250K/500K etc
Duration: 1/2/5/10/15yrs
Regions Licensed: US/US English/US All Languages/World

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Sample license (Adjust to taste ):

Misty Dawn Photography grants xyz Publisher the following rights to use photograph abc:
Exclusive World rights, All Languages; Hard Back, Softback; up to 100,000 copies; 15 year license.

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The answers should help you dictate the fee you charge too. The longer/larger/wider the rights they want, the more they pay. Remember it's always a negotiating game too.

Good Luck.

HTH