AGREEMENT made effective _____________, 20 __ by and between
[NAME] COMPANY
Address:
Telephone:
Fax:
Email:
(hereinafter referred to as "Owner") and
PUBLISHER, INC.
Address:
Telephone:
Fax:
Email:
(hereinafter referred to as "Publisher").
THE PARTIES HEREBY AGREE AS FOLLOWS:
1. Owner hereby grants to Publisher, its successors, assigns, affiliates, subsidiaries and licensees the sole and exclusive right during the term hereof, to print, sell and distribute in bound or unbound editions or forms, singly or together with such other compositions and contents as may be selected by Publisher, at Publisher's sole cost and expense, the copyrighted musical composition entitled:
(which composition is for convenience hereinafter referred to as the "Subject Composition") in any and all arrangements and adaptations thereof as Publisher may elect, throughout the world (hereinafter referred to as the "Licensed Territory"), and to sell the same at such prices and on whatever terms, conditions and discounts as Publisher may in its sole discretion determine from time to time.
2. In full consideration for all rights, licenses and privileges granted to Publisher hereunder and for all warranties, representations and agreements herein made by Owner, Publisher agrees to pay to Owner the following royalties:
(a) A sum of seven cents ($.07) per copy in respect of regular sheet music (piano-vocal) sold and paid for. Notwithstanding the foregoing, Publisher shall pay Owner no less than a sum equal to twenty percent (20%) of the marked retail selling price ("MRSP") per copy in respect of net sales of regular sheet music (piano-vocal) editions. (As used in this agreement, "net sales' refers to copies sold and paid for and not returned.)
(b) In the event the Subject Composition is included in any folio, song book or similar publication containing musical compositions or other musical materials in addition to the- Subject Composition, a sum equal to a proportionate part of twelve and one-half percent (12.5%) of the MRSP on net sales of such work.
(c) In the event the Subject Composition is sold in a pedagogical edition or an instrumental, orchestral, choral, band or other arrangement, a sum equal to ten percent (10%) of the MRSP on net sales of such work, or a proportionate share thereof if included with other copyrighted musical materials that are not subject hereto.
(d) A sum equal to fifty percent (50%) of sums actually received by Publisher from third party licensees.
3. (a) With respect to all sums which may be received by Publisher derived from sales of copies of the Subject composition, Publisher shall, subject to a reasonable reserve against returns (not to exceed forty percent (40%), which reserve shall be liquidated on the accounting statement for the accounting period next following the accounting period in respect of which such reserve is established), within sixty (60) days after the last days of June and December of each year, prepare and furnish statements to Owner, and each such statement shall be accompanied by a check or checks in payment of any and all sums shown to be due thereby. Each such statement shall be binding on Owner and not subject to any objection for any reason, unless specific objection in writing, setting forth the basis thereof, is given to Publisher by Owner within two (2) years from the date rendered.
(b)To the extent that Owner is paid therefor by Publisher, Owner hereby agrees to pay the writer(s) of the Subject Composition all moneys payable to writer(s) from Owner's receipts hereunder and further agrees to hold Publisher free and harmless from and against any claims of any writer(s) of the Subject Composition.
4. (a) Publisher agrees to keep and maintain full and complete books and records concerning the subject matter hereof; and Owner shall have the right to examine Publisher's books and records at Publisher's place of business in Los Angeles, California during its normal business hours and upon reasonable notice to verify the correctness of accounting statements rendered hereunder, within two (2) years, in each instance, after the rendition of the subject accounting statement.
(b) Legal action with respect to a specific accounting statement or the accounting period to which the same relates shall be forever barred if not commenced in a court of competent jurisdiction within two (2) years following the rendition of such statement.
5. Owner shall furnish Publisher with all necessary copyright information, an accurate lead sheet and a copy of the original commercial phonograph recording of the Subject Composition. Owner hereby approves Publisher's use of the copyright information as contained on the lead sheet furnished. Owner shall also furnish Publisher with recent photographs of the artists who perform the Subject Composition on such phonograph record and Owner shall use its best efforts to...
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