This Agreement is entered into between Lynch Mob Records (herein the Company), with offices at 122 Arms Cir #11, Roxton, Texas, 75477 and _________________, _________________, _________________, _________________, _________________ (herein after called as "Artist"). The parties agree as follows: 1. Exclusive Recording Services Lynch Mob Records agrees to employ _________________ to make recordings, and _________________ agrees to record exclusively on Lynch Mob Records's label for a period of 5, from the date of execution of this Agreement. During the term of this Agreement, _________________ will not make, or participate in the making of any recordings, other than on the Lynch Mob Records's label, unless Lynch Mob Records expressly approves of that participation. 2. Master Recordings During the period in which this Agreement remains in effect, _________________ will make a minimum of _________________ master recordings of previously unrecorded material which _________________ will select and/or compose. _________________ will complete one master recording of at least _________________ minutes duration every year during the term of this Agreement. Lynch Mob Records will have final rights of approval on all material to be recorded by _________________ under this Agreement. 3. Professional Name _________________ will perform and record under the professional name _________________. _________________ will not use different name in connection with Mater recording unless _________________ and the Lynch Mob Records mutually agree in writing. 4. Term The _________________'s obligation to perform exclusive recording services shall begin upon the latest signature date of this Agreement and shall continue for _________________ years after delivery of the first master Recording. If the Lynch Mob Records grants one or more options to Lynch Mob Records as part of this Agreement, anytime prior to the end of the term, the Lynch Mob Records may extend the term by exercising its option. 5. Compensation Lynch Mob Records will pay to _________________, $0.00 for each master recorded on Lynch Mob Records's label under the terms of this Agreement, plus any royalty to which _________________ may be entitled under this Agreement. 6. Royalty Terms Lynch Mob Records agrees to pay royalties to _________________ for each unit sold, This is a RocketLawyer.com document.
according to the following schedule: a. Lynch Mob Records shall pay to _________________ as a royalty, 35 of the Net Receipts received by Lynch Mob Records, from exploitation of the Masters and 35 of any flat fee received by Lynch Mob Records for licensing or sublicensing the Masters less all Expenses agreed to herein, not to exceed 35 of the total Net Receipts received by Lynch Mob Records (hereinafter called as _________________'s Royalty). In the event Lynch Mob Records's third party distributor withholds a commission and remits the margin to Lynch Mob Records, this margin will be reduced by the agreed expenses and commissions and the balance divided equally between Lynch Mob Records and _________________ less the expenses set forth in this Agreement. b. The royalties shall be computed in the national currency of the U.S. and shall be paid to _________________ in U.S. currency at the rate of exchange prevailing on the date payment is made or, if higher, at the rate of exchange at the business day that payment should have been in accordance with this Agreement. Any bona fide reasonable and or agreed fees paid to third party distributors by Lynch Mob Records or deducted from Lynch Mob Records's gross Receipts will be included as deductible expenses for purposes of calculating Net Receipts. c. Net Receipts shall mean Gross Receipts received by Lynch Mob Records less Expenses. 7. Rights to Name and Likeness of _________________ _________________ will permit the use of _________________'s likeness or other identifying characteristics by Lynch Mob Records for the...
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