Feel The Funk Agreement
AGREEMENT BETWEEN ARTIST AND RECORD LABEL
This Agreement is made as of , by and between Feel The Funk Records (“Licensee”) and [Artist Name] (“Licensor”).
1. Royalty Split
Both parties agree to a 50/50 split of all royalties derived from the sales and licensing of the track(s) specified herein.
2. Payment Terms
Payments will be made based on quarterly reports. Payments will be issued when the cumulative royalties exceed $50 USD. The accounting periods will end on June 30 and December 31 of each year.
3. Mastering Options
Licensor has the option to provide their own mastered tracks. Alternatively, Licensee can arrange mastering services for the Licensor.
4. Distribution Rights
The Licensor hereby guarantees the Licensee the exclusive right to distribute the track(s) digitally and in other formats globally. Licensee is also entitled to include the track(s) on physical (vinyl, cd, usb) and or music compilations.
5. Ownership and Rights
- Distribution Term: 10 years
- Total Buyout Fee: None
- Royalties: 50% of net income from all sales and licensing on the original mix only.
- Accounting: Bi-Annual – June 30 / December 31
- All master recordings and publishing rights shall remain under the ownership of the Licensor.
6. Special Conditions
If a sample issue arise, your track will result in the immediate removal on all platforms.
7. Release Date
The release date for your track is to be determined. If the track is not released within 1 year of the signed date of this Agreement, all rights revert back to the Licensor.
8. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of your city, state or county.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of .
Please send your Mastered or Premastered Track to feelthefunkrecords@gmail.com