[ ] If any member of Artist ceases to perform as a member of the group ("Leaving Member"), Artist shall promptly give Company written notice. Territory. Royalties. If the audit indicates an underpayment greater than $500 for any six month period, Company shall pay for the audit. No waiver by either party of any right shall be construed as a waiver of any other right. (Check and fill in blanks if applicable.) Company shall have the right to modify or conform the artwork to meet Company specifications and standards. \ ] y ƒ � ω ο - > Σ Τ Y k � ‚ " B L q ρ ς K i Η α ‡ ‘ � � α κ � � Artist warrants that Artist's use of any name or moniker will not infringe on the rights of others and that Artist's use of any musical composition or arrangement will not infringe on the rights of others. [ ] Artist acknowledges and agrees that Company will pay a royalty for the mechanical license on all Records manufactured for sale or commercial distribution at ______% of the minimum compulsory license rate (the "Company Mechanical Rate") applicable in the country of manufacture. Artist shall be available from time to time to appear for photography, video performance, or the like, under the reasonable direction of Company. Company shall pay Artist a percentage (the "Royalty") of the Company' sales for all Records sold, less the following costs: actual container costs not to exceed ______ % of SRLP, and excise, sales and similar taxes. Company shall pay Artist ______ % of (select one): [ ] suggested retail list price (SRLP) or [ ] wholesale price. General. Mechanical Royalties. If Company ever chooses not to exercise an option, the agreement will terminate regardless of how many options remain. 1 4 � ¥ " " Έ" ά" �# Ό# �&. Artist grants to Company (check if applicable): [ ] one option [ ] two options [ ] three options [ ] four options [ ] ___ options. This lower royalty is a reflection of the increased investment that comes with a major label. Whether you're a fledgling act, an experienced recording artist or a record label looking for both, a Recording Agreement ensures that music is the only noise y Make documents ... Non-Disclosure Agreement LLC Operating Agreement Independent Contractor Agreement Business Contract. All sums paid by Company as part of the Production Budget shall be considered as an Advance against royalties. ROYALTIES. Promotional Recordings and Cutouts. Any amounts up to but not exceeding six hundred dollars (US $600.00) may be expended for the purposes of the trademark search and will be considered as a recoupable advance. Artist grants to Company an irrevocable worldwide license to reproduce all compositions wholly or partly written, owned or controlled by Artist (the "Controlled Compositions"). Artist grants to Company the right to synchronize the Master Recordings with visual images to create Videos. Company shall advance the sum of $ ______ for artwork preparation and such payment shall be considered an advance against future royalties. . All monies paid by Company to Artist other than royalties paid pursuant to this Agreement, shall be considered an advance against royalties ("Advances"). Nothing contained in this Agreement shall be meant to establish either Company or Artist a partner, joint venturer or employee of the other party for any purpose. Artist can terminate this Agreement if Company fails to pay Artist' Royalties when due or to accurately report Net Sales and the failure is not corrected within thirty days after notice from Artist. For example, if a composition from the Master Recording is included on a compilation containing nine selections from other artists, Artist shall be entitled to one-tenth (1/10th) of the royalty rate. Advances and Recoupable Costs. Leaving Members. If this Agreement is breached because of a failure to pay or accurately report royalties all rights granted under this agreement shall revert to Artist and Company shall have no further rights regarding Artist or the Master Recordings. Advance for Option Term. The Leaving Member shall not, however, be responsible for any outstanding Artist debts including unrecouped advances.
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