PLEASE NOTE THAT THIS IS AN EXAMPLE OF CONTRACT
ALL CONDITIONS ARE DISCUSSED INDIVIDUALLY WITH EACH ARTIST
INTRODUCTION
This 360 Artist Contract (hereinafter referred to as the “Agreement”) is entered into on [Date], by and between [Artist Name],(hereinafter referred to as the “Artist”), and Red Maple Leaf Records, (hereinafter referred to as the “Record Label”).
TERM
The initial term of this Agreement shall commence on [Start Date] and continue for a period of [Term Length] years. This Agreement may be renewed upon mutual written agreement between the parties in the new Renewal Term. The Initial Term, together with any Renewal Term, shall collectively be referred to as the "Term".
SCOPE OF SERVICES
Scope of Services The Record Label agrees to provide the Artist with the following services:
- Producing & distributing music and other artistic works regarding to additional agreements of this contract.
- Promoting and marketing the Artist’s music online, including but not limited to public relations, artist's social media, and playlist placements.
- Booking and managing online performances & online radio appearances.
- Managing and administering the Artist’s merchandising and merchandise sales in Record Label Online Store.
- Providing business and financial reports to the Artist, including but not limited to budgeting and financial planning advices.
COMPENSATION
In consideration of the Record Label services, the Artist agrees to pay the Record Label a percentage of their income derived from the following sources (collectively referred to as “Revenue Streams”):
- Record sales, downloads, and streaming royalties.
- Merchandise sales.
- Endorsements, sponsorships, and other commercial opportunities.
Any other income derived from the Artist’s artistic works and performances, including but not limited to publishing royalties.
The agreed percentage of the Artist’s income payable to the Record Label shall be [Percentage]% for the duration of the Term.
EXPENSES
The Record Label pays all expenses under this agreement as a percentage in the form of added value. This percentage of added value can increase the final retail price. These costs can be as follows:
- Additional fees for record sales, downloads & streaming.
- Expenses for promotion, including advertising and marketing.
- The cost of producing Artist's merchandize.
The Record Label does not charge any additional fees from the Artist & from the Artist's percentage income due to this agreement.
INTELLECTUAL PROPERTY
The Artist acknowledges that all intellectual property rights to his artistic works are transferred to the Record Label for the entire duration of this contract. The Record Label has the exclusive right to use, reproduce and distribute the Artist's intellectual property only for the purposes specified in this Agreement. This right shall terminate upon termination of this Agreement.
TERMINATION
Either party may terminate this Agreement with a 30 business days written notice to the other party in the event of:
- Material breach of this Agreement by the other party.
- Insolvency or bankruptcy of either party.
- Mutual agreement between the parties.
GOVERNING LAW & JURISDICTION
This Agreement shall be governed by and construed in accordance with the laws of [Jurisdiction].Any dispute arising out of this Agreement shall be resolved by arbitration in accordance with the rules of the [Arbitration Association].
AMENDMENTS & WAIVERS
No amendment to this Agreement shall be effective unless it is in writing and signed by both parties. A waiver of any term or condition shall not be construed as a waiver of any other term or condition.
ENTIRE AGREEMENT
This Agreement constitutes the entire understanding between the parties and supersedes all prior oral agreements, understandings, or arrangements between the parties relating to the subject matter of this Agreement.
COUNTERPARTS
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
In witness whereof, the parties have executed this 360 Artist Contract as of the date first above written.