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(a) General
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(iii) In the event that the Parties are unable to obtain a
Recording Agreement within eighteen (18) months from the date of
this Agreement, then this Agreement shall terminate automatically.
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Agreement may act as such directive and may be presented to the Record
Company for that purpose.
(f) Extension: The Parties agree that the term of this Agreement
shall extend for a full term of the Recording Agreement, as same may be
extended through the exercise of options, and such term as extended of any
alternate or substitute agreements. If an option is not exercised under any
such agreement, the term of this Agreement shall be deemed extended for
an additional six (6) months for the purpose of obtaining an alternate or
substitute recording agreement.
4. MASTER RIGHTS: The Master recorded shall, from the inception of its
creation, be mutually owned by Producer and Artist in perpetuity, throughout
the Territory, free of any claim whatsoever by any persons deriving any
rights or interests from Artist. Neither party shall have no right to release the
Master or sell the Master recorded under this Agreement without the other's
express written permission. Producer shall have the right to prepare and file
copyright registration for the Master produced under this Agreement.
Producer agrees to register Artist as a co-author in accordance with this
Agreement. Producer shall provide Artist with a copy of the filed registration
form upon receipt by Producer of the documentation provided by the
Copyright Office.
6. ACCOUNTING: Producer shall have the right to inspect and audit the
Artist's books and records one time per each semi-annual accounting period,
upon thirty (30) days written notice, with respect to royalties payable to
Producer under this Agreement. Nothing in this Agreement shall limit
Producers rights to accountings or remedies at law under the applicable laws
governing this Agreement.
7. TERMINATION:
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notice by registered or certified mail at the respective addresses contained
herein. If, however, Producer is in negotiation evidenced by a written deal
memo, with a Record Company before this Agreement expires, this
Agreement shall remain in full force and effect to allow for the completion of
such negotiating efforts.
(b) Should Artist, within one (1) year after the expiration of this
Agreement, enter into a Recording Agreement with any of the Record
Companies with which Producer had negotiated, Producer shall either
produce Artist's first album or, in the alternative, receive a three percent
(3%) (of the record's suggested retail selling price), producer's royalty with
respect to Artist's first record album made and released by such Record
Company. Artist shall cause a letter of direction to be sent to Record
Company to cause Producer's royalties to be sent by and through Producer
as to the first album.
10. DEFINITIONS:
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"Audio Products" shall mean and include without limitation all forms
of recording and recording reproduction by which sound may be fixed,
embodied, or recorded by any method now known or later developed, for any
and all public or commercial uses including recording tape, compact disc,
vinyl record, digital computer files (MP3, WAV, etc.) and any other medium or
device now known or later developed whether embodying sound alone,
sound synchronized with visual images, or any other audio-visual works or
"sight and sound" devices.
“Net Receipts” shall mean the gross receipts or all money paid to
and received by Artist or credited to Artist’s account from a Recording
Agreement executed pursuant to the terms of this Agreement or the
exploitation of the Masters created under this Agreement less any and all
Expenses incurred by Artist for creation of the Master under this Agreement.
11. ENTIRE AGREEMENT: This Agreement sets forth the entire agreement
between the parties with respect to the subject matter hereof. No
modification, amendment, waiver, termination or discharge of this
Agreement, shall be binding upon the parties unless confirmed by a written
instrument signed by the parties. No waiver of any provisions or any default
under this Agreement shall affect the rights of Producer thereafter. Should
any provision of this Agreement be adjudicated by a court of competent
jurisdiction as void, invalid or inoperative, such decision shall not affect any
other provision hereof, and the remainder of the Agreement shall be effective
as though such void, invalid or inoperative provision has not been contained
herein. It is agreed that all grants made herein shall survive and continue
beyond the expiration for earlier termination of this Agreement. No breach of
this Agreement by Producer shall be deemed material unless within thirty
(30) days after Artist learns of such breach, Artist serves written notice
thereof on Producer specifying the nature thereof and Producer fails or
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refuses to cure such breach, if any, within sixty (60) days after receipt
thereof.
The effective date of this Agreement shall be the above date herein
stated.
Producer:
__________________________________
Address: ___________________________
___________________________
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Artist:
__________________________________
__________________________________
Artist Printed Name
SSN: _____________________________
Address: ___________________________
___________________________
1025 Riverdale Circle Culpeper, VA 22701 Phone: (540) 229-9889 Email: ghumphrey@humpdaymusic.com