Term The will 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 Record’s label under the terms of this Agreement, plus any royalty to which may be entitled under this Agreement. . Royalty Terms Lynch Mob Records agrees to pay royalties to sold, This is a Racketeered. Com document. For each unit 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 subleasing 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 Record’s third party distributor withholds a commission and remits the margin to Lynch Mob Records, his margin will be reduced by the agreed expenses and commissions and the balance delved 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 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 Record’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 permit the use of ‘s likeness or other identifying characteristics by Lynch Mob Records for the promotion of sales of records produced under this Agreement.
During the term of this Agreement, Lynch Mob Records will have the sole right to the use of ‘s name, voice, likeness, sound, and similar characteristics for the purpose of advertising, promoting, selling, and otherwise merchandising CDC, tapes, and other audio recordings produced from the masters produced by under the terms of this Agreement. 8. Ownership of Masters Lynch Mob Records will be the sole owner and will have perpetual use and control of all masters and CDC, tapes, and other audio recordings produced under this Agreement.
Lynch Mob Records will be free to dispose of and treat in any way all masters and CDC, tapes, and other audio recordings produced under this Agreement, including but not limited to selling, advertising, distributing, permitting their use in other mediums, and including them in masters containing the work of other Artists. 3. Merchandising If Lynch Mob Records realizes any net profits directly attributable to the merchandising of Nail pay to ‘s name and/or likeness, Lynch Mob Records 35 percent of those net profits derived from sales in the U.
S. And 35 of those net profits derived from foreign sales. 10. Suspension Lynch Mob Records will have the right to suspend this Agreement, if suffers any physical, mental, or other disability, including but not limited to changes in This is a Racketeered. Com document. ‘s voice, that will, in the Judgment of Lynch Mob Records, interfere ‘s performance; or fails, refuses, or neglects to perform any duties set forth in this Agreement, or declares either personally or through a representative that goes not intend to perform those duties. B) Lynch Mob Record’s right to suspend this Agreement will be contingent on the delivery to of a written notice of suspension at least 30 before the date that suspension will take place. Disability or breach will be deemed ended when the notifies Lynch Mob Records that s/he is, without reservation or condition, willing and able to perform all duties under this Agreement and, in fact, is Milling and able. C) If Lynch Mob Records suspends the operation of this Agreement as provided (a) and (b) of this Paragraph, Nail be suspended accordingly; however, ‘s right to be compensated ill be entitled to continue to receive all royalties on work already produced under this Agreement. 1 1 . Reanimation Lynch Mob Records will have the right to terminate this Agreement if any of the following events occur: the material and permanent change in ‘s ability to perform; the music industry; or conduct of the ‘s election to cease all activities in which results in a violation of on the and/or the Lynch Mob Records. 2. Representations Both and Lynch Mob Records represent that they have full capacity and authority to grant all rights and assume all obligations which they have granted and assumed by virtue of executing this Agreement. 13. Notice of Breach Neither party Nail be deemed to be in breach of this Agreement until it has received notice of the supposed breach from the other party. The party charged with breach of the Agreement will have 30 from the date of receiving notice in which to either cure the claimed breach or otherwise respond.
If the circumstances leading to the charge that the Agreement was breached have not been explained or cured within 30 from the date on which the party received notice of breach, the non breaching party may terminate this Agreement. If is a group, the breach of this Agreement y any member of that group may be deemed a breach by the entire group. 14. Notices All notices to the parties will be in writing and will be sent to the address of the party stated at the beginning of this Agreement. 15.
Governing Law This Agreement will be governed in all respects by the law of the State of Texas. 16. Legal Construction This is a Racketeered. Com document. In the event any one or more of the provisions contained in this Agreement shall for any reason be held invalid, illegal, or unenforceable in any respect, that invalidity, illegality, or enforceability shall not affect any other provision. This Agreement hall be construed as if the invalid, illegal, or unenforceable provision had never been contained in it. 17.
Amendments This Agreement may be amended by the parties only by a written Agreement. 18. Attorneys’ Fees If any action at law or in equity is brought to enforce or interpret the provisions of this Agreement, the prevailing party will be entitled to reasonable attorneys’ fees in addition to any other relief to which that party may be entitled. Executed on the dates indicated below by each party with the intent of being legally bound. Date Lynch Mob Records By Bryan Lynch, its Owner This is a Racketeered. Com document.