I'd rather avoid the suit altogether, and just pay the model a reasonable fee upfront. That way, they know exactly what their compensation will be, and if they're not happy with that amount, they politely decline to pose, and that's that. As I said before, I don't think that kind of information belongs in the release itself. You can write up whatever contract you want between you and the model as far as compensation is concerned - I don't think that contract belongs in your model release. I believe in paying a model a fair rate for their time - and I do include the prints I give them, as fine art prints, in the calculation of their compensation. As an example, I know that my prints sell for at least $250 apiece, so if I pay the model $100 in cash for an afternoon's posing, and give them four prints, signed as artists proofs, I just handed that model $1100 worth of compensation. I'd say that is pretty good pay for an afternoon. If you hire a figure model through an agency, where such things are highly regulated, you pay the model typically $150 an hour (well, the AGENCY gets $150 an hour... god knows what the model's actual cut is), and then that's that - the model expects to sign a blanket release that absolves you of any liability and any relationship to them, and any rights they have of review and refusal. I believe in discussing these things with the model in advance, so they can be comfortable when signing that standard release. I'll talk about it with the model before, during and after the shoot, so they feel good about what I've shot, and I'll be glad to discuss any specific image with them, but I'm not going to cede creative control.
If you use a release like the one above, you are creating the perception in the mind of the model that they have co-ownership in the images you create, which is not the case. Again, the idea is to prevent legal hassles, not generate greater possibilities for them in the future. I have heard stories where someone posed for images when they were younger, then many years later regretted, and came back and sued the photographer (or the worst case, the estate of the model, in the form of their parents), and because the model release was not airtight, the photographer got hosed as a result.