Anderson Sound Recording brings up a lot of good points. The only thing I would add is that you're shooting on a GL2 (a great camera 10 years ago) as opposed to an HDV or FullHD camera. SD is sadly not worth as much as HD.
At the very minimum, make sure you cover your costs (tape, gas, etc.) Maybe try to work in some perks such as green room access and food. If these folks are reputable, they shouldn't mind signing a contract outlining the terms of the agreement. Also make sure you retain the rights to the product to promote yourself in the future.
