- Jul 20, 2004
- 26
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Ok fellas, here's the thing;
My band and I have some of our songs over on "soundclick.com", and yesterday a representative from "Statue Records" (I never heard of them either) emailed me with a few questions about whether or not I'd be interested in signing with them. Today, he emailed me a record contract so that I could look it over,...but I'm not gonna do a damn thing til my fellow metalheads here say it's a good deal.
Seriously, dudes and dudettes, please let me know if this is a good idea or not, cause I'm too damn young to be in legal troubles with anyone, ya know?
Ok, here's the contract. (sorry about the length)
--------
DEAL POINTS
· ARTIST RETAINS OWNERSHIP OF MASTERS.
· ARTIST RETAINS OWNERSHIP OF PUBLISHING.
· TERM OF AGREEMENT IS AT DISCRETION OF ARTIST (TO BE DETERMINED PRIOR TO EXECUTION)
· STATUE MANUFACTURES AND PACKAGES RECORDINGS AND ARTWORK.
· ARTIST MAY PURCHASE RECORDINGS MANUFACTURED BY STATUE AT A DISCOUNTED RATE.
· ARTIST MAY CONTINUE TO MANUFACTURE AND SELL CD’S ON THEIR OWN.
IF ARTIST HAS MANUFACTURED CD’S, AT ARTIST OPTION, STATUE WILL DISTRIBUTE THOSE CD’S AT AN ALTERNATIVE ROYALTY RATE THAN THAT OFFERED BELOW.
STATUE RECORDS GROUP
NON EXCLUSIVE
DISTRIBUTION CONTRACT
#2004-
1. THIS AGREEMENT DATED _______________ 2004 IS BETWEEN STATUE RECORDS INC.(HEREINAFTER REFERRED TO AS "STATUE"), HAVING ITS PRINCIPAL PLACE OF BUSINESS LOCATED IN HOLLYWOOD CA, AND ___________________________________________________________________________________________________ CURRENTLY PROFESSIONALLY KNOWN AS _____________________________________________________________________ (HEREINAFTER REFERRED TO AS "ARTIST"), WHOSE ADDRESS IS _________________________________________________________________________________. THE PURPOSE OF THIS AGREEMENT IS TO PROVIDE FOR ARTIST'S DELIVERY TO STATUE RECORDS OF MASTER RECORDINGS (AS HEREINAFTER DEFINED) TO BE EMBODIED ON AN EP OR LP AND STATUE'S PROMOTION, RELEASE AND DISTRIBUTION THEREOF.
2. ARTIST AGREES TO DELIVER (1) LP MASTER RECORDING (AS HEREINAFTER DEFINED) TO STATUE IN CD OR CDR FORMAT, SAID LP WILL CONSIST OF ___ SONGS. STATUE WILL MANUFACTURE CD’S AS REQUIRED TO FULFILL INTERNET AND RETAIL ORDERS FOR THIS PRODUCT. AS AN ALTERNATIVE, AND IN THE EVENT ARTIST CHOOSES TO DELIVER TO STATUE MANUFACTURED CD’S AND OR CASSETTES, ARTIST WILL DELIVER AN INITIAL SHIPMENT OF 0 COPIES (ONLY FILL IN IF ARTIST IS PROVIDING PRODUCT) OF THE RECORDING IN CASSETTE OR CD FORMAT. THE TERRITORY FOR RELEASE OF THIS RECORDING WILL BE THE WORLD. INCLUSION IN THE STATUE RECORDS WEB SITE IS AT ARTIST OPTION. IF ARTIST ELECTS TO BE LISTED ON THE STATUE RECORDS WEB SITE (STATUERECORDS.COM) ON EXECUTION OF THIS AGREEMENT ARTIST WILL TENDER TO STATUE RECORDS A ONE TIME SET UP FEE PAYMENT IN THE SUM OF ONE HUNDRED DOLLARS TO COVER WEB PROGRAMMING COSTS ASSOCIATED WITH INCLUSION OF ARTIST RECORDINGS ON THE STATUE RECORDS WEB SITE. (CHECK ONE OF THE TWO FOLLOWING OPTIONS) ARTIST IS TO BE INCLUDED ON STATUE WEB SITE _____, ARTIST DECLINES TO BE INCLUDED ON STATUE WEB SITE_____.
3. FOR THE RIGHTS HEREIN GRANTED AND FOR THE SERVICES TO BE RENDERED HEREUNDER BY ARTIST, STATUE SHALL PAY ARTIST WITH RESPECT TO EACH RECORDING (AS HEREINAFTER DEFINED) EMBODYING SOLELY THE MASTER RECORDINGS HEREUNDER WHICH ARE SOLD IN THE TERRITORY OR DOWN LOADED FROM THE STATUE INTERNET SITE A ROYALTY OF 25% (SOMETIMES HEREINAFTER REFERRED TO AS THE "BASIC RATE") COMPUTED ON A ROYALTY BASE OF THE SUGGESTED WHOLESALE LIST PRICE ("SWLP") OF THE RECORDING OR THE ACTUAL RETAIL PRICE OF INTERNET DOWN LOADS. STATUE WILL NOT PAY ARTIST ANY ROYALTY INCLUDING BUT NOT LIMITED TO, MECHANICAL AND PERFORMANCE ROYALTIES FOR RECORDINGS SOLD DIRECTLY TO THE ARTIST AT THE ARTIST WHOLESALE RATE AS SET FORTH IN PARAGRAPH 10 HEREIN
4. NO ROYALTIES SHALL BE PAYABLE IN RESPECT OF RECORDINGS HEREUNDER GIVEN AWAY FOR PROMOTIONAL PURPOSES OR SOLD AT BELOW STATED WHOLESALE PRICES TO DISC JOCKEYS, RECORD REVIEWERS, RADIO, ARTIST AND TELEVISION STATIONS AND NETWORKS, MOTION PICTURE COMPANIES, MUSIC PUBLISHERS, OR FOR THE FIRST 100 UNITS SOLD AT RETAIL OR OVER THE INTERNET. STATUE'S CUSTOMARY CONTAINER CHARGES FOR ALBUMS, TAPES, JACKETS, BOXES, OR OTHER PACKAGING AND CONTAINERS AND SHIPPING COSTS WILL BE EXCLUDED FROM THE ROYALTY BASE FOR THE PURPOSE OF COMPUTING ROYALTIES.
5. (A) PAYMENT OF ACCRUED ROYALTIES, IF ANY, SHALL BE MADE SEMI-ANNUALLY ON OR BEFORE (45) DAYS AFTER THE END OF THE APPLICABLE PERIOD ENDING IN MARCH AND SEPTEMBER OF EACH YEAR.
6. SUBJECT TO THE TERMS AND CONDITIONS OF THIS AGREEMENT, ARTIST HEREBY GRANTS A LICENSE TO STATUE TO REPRODUCE AND DISTRIBUTE THE MASTER RECORDINGS IN THE TERRITORY. ARTIST'S DOES HEREBY LICENSE ITS RIGHTS, TITLES AND INTERESTS IN AND TO THE MASTER RECORDINGS HEREUNDER EMBODIED ON THE RECORDINGS HEREIN DEFINED AND ALL REPRODUCTIONS MADE THEREFROM, TOGETHER WITH ALL SOUND RECORDING COPYRIGHTS THEREIN (EXCLUDING THE COPYRIGHTS TO THE UNDERLYING COMPOSITIONS) AND THE PERFORMANCES EMBODIED THEREIN, ARE HEREBY LICENSED, FOR THE TERM OF THIS AGREEMENT, TO STATUE FOR THE TERRITORY. THE LICENSE WILL BE FREE OF ANY CLAIMS WHATSOEVER BY ANY PERSON DERIVING ANY RIGHTS OR INTEREST FROM ARTIST. WITHOUT LIMITATION OF THE FOREGOING, STATUE SHALL HAVE THE RIGHT TO MAKE RECORDINGS OR EFFECT PAID INTERNET DOWNLOADS OF SUCH RECORDINGS OR OTHER REPRODUCTIONS OF THE PERFORMANCES EMBODIED IN SUCH MASTER RECORDINGS SOLELY WITHIN THE TERRITORY BY ANY METHOD NOW OR HEREAFTER KNOWN, AND TO SELL DEAL IN OR OTHERWISE DISPOSE OF THE RECORDINGS SOLELY WITHIN THE TERRITORY OR STATUE MAY AT STATUE'S ELECTION REFRAIN THEREFROM. THE TERRITORY FOR PURPOSES OF THIS SECTION AND SECTION 7 BELOW IS DEFINED AS THE WORLD.
7. STATUE SHALL HAVE THE RIGHT IN THE TERRITORY TO USE AND TO ALLOW OTHERS TO USE ARTIST'S NAME, LIKENESS AND BIOGRAPHICAL MATERIAL CONCERNING ARTIST, SOLELY FOR ADVERTISING THE RECORDINGS HEREUNDER AND FOR PURPOSES OF PROMOTING ARTIST AND MARKETING THE RECORDINGS HEREUNDER.
8. ARTIST SHALL BE RESPONSIBLE FOR THE PAYMENT OF MECHANICAL ROYALTIES DIRECTLY TO THE COPYRIGHT PROPRIETORS OF THE MUSICAL WORKS EMBODIED ON THE MASTER RECORDINGS HEREUNDER.
9. ARTIST SHALL BE SOLELY RESPONSIBLE FOR AND SHALL PAY ALL ROYALTIES AND OTHER COMPENSATION WHICH MAY BE PAYABLE TO ANY PRODUCERS OF THE MASTER RECORDINGS HEREUNDER.
10. STATUE AGREES TO SELL THE RECORDINGS HEREUNDER TO ARTIST IN ANY FORMAT CONFIGURATION CURRENTLY IN OPEN CATALOGUE AT ITS “ARTIST” WHOLESALE PRICE THEREFORE. STATED “ARTIST” WHOLESALE PRICES ARE AS FOLLOWS: FULL LENGTH CD'S ARE $7.95, CD EP’S ARE $7.00 EACH. STATUE AGREES TO SELL CD LP’S OR EP’S IN QUANTITIES OF 10 UNITS AT $3.00 EACH TO ARTIST AT ARTIST ELECTION. THE $3.00 PRICING WILL BE EXEMPT FROM ALL ROYALTY PAYMENTS, ARTIST WAIVES ALL ROYALTIES ON SUCH SALE . STATUE RESERVES THE RIGHT TO DETERMINE THE FORMATS IN OPEN CATALOGUE. COMPACT DISCS WILL ALWAYS BE IN OPEN CATALOGUE. STATUE RESERVES THE RIGHT TO RAISE THE RATES SET FORTH IN THIS SECTION BY 10 PERCENT PER YEAR DURING THE TERM OF THIS AGREEMENT. THE RIGHT TO SO INCREASE WOULD OCCUR ON THE ONE YEAR ANNIVERSARY OF THE EXECUTION DATE AND WOULD SO APPLY TO EACH ANNIVERSARY DATE FOR THE TERM OF THIS AGREEMENT.
11. NEITHER PARTY HEREUNDER SHALL BE DEEMED TO BE IN BREACH OF ANY OF ITS OBLIGATIONS HEREUNDER UNLESS AND UNTIL THE PARTY NOT IN BREACH SHALL HAVE GIVEN THE BREACHING PARTY WRITTEN NOTICE BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, DESCRIBING IN DETAIL THE BREACH, AND THE BREACHING PARTY SHALL HAVE FAILED TO CURE THAT BREACH WITHIN (30) DAYS, AFTER THE BREACHING PARTY'S RECEIPT OF SUCH WRITTEN NOTICE.
12. THE INVALIDITY OR UNENFORCEABILITY OF ANY PROVISION HEREOF SHALL NOT AFFECT THE VALIDITY OR ENFORCEABILITY OF ANY OTHER PROVISION HEREOF.
13. THIS AGREEMENT SETS FORTH THE ENTIRE AGREEMENT BETWEEN STATUE AND ARTIST WITH RESPECT TO THE SUBJECT MATTER HEREOF. NO MODIFICATION, AMENDMENT, WAIVER, TERMINATION OR DISCHARGE OF THIS AGREEMENT OR ANY PROVISION HEREOF SHALL BE BINDING UPON STATUE OR ARTIST UNLESS CONFIRMED BY A WRITTEN INSTRUMENT SIGNED BY ARTIST AND BY A DULY AUTHORIZED OFFICER OF STATUE.
14. NEITHER PARTY'S WAIVER OF ANY PROVISION OF THE AGREEMENT OR ANY DEFAULT HEREUNDER SHALL AFFECT SUCH PARTY'S RIGHTS THEREAFTER TO ENFORCE SUCH PROVISIONS OR TO EXERCISE ANY RIGHT OR REMEDY IN THE EVENT OF ANY OTHER DEFAULT, WHETHER OR NOT SIMILAR. ALL REMEDIES, RIGHTS, UNDERTAKINGS, AND OBLIGATIONS CONTAINED IN THIS AGREEMENT SHALL BE CUMULATIVE AND NONE OF THEM SHALL BE IN LIMITATION OF ANY OTHER REMEDY, RIGHT, UNDERTAKING OR OBLIGATION OF EITHER PARTY.
15. ARTIST REPRESENTS AND WARRANTS THAT EACH MEMBER IS OVER 18 YEARS OF AGE AND IS LEGALLY COMPETENT TO EXECUTE THIS AGREEMENT. IF ARTIST IS A MINOR UNDER THE AGE OF 18 ARTIST MAY CONTRACT THROUGH THE AGENCY OF A PARENT OR GUARDIAN.
16. AS USED IN THIS AGREEMENT THE TERM "ARTIST" SHALL BE DEEMED TO REFER INDIVIDUALLY AND COLLECTIVELY TO EACH OF THE MEMBERS OF THE GROUP COMPRISING ARTIST. THE OBLIGATIONS, LIABILITIES, PROHIBITIONS AND RESTRICTIONS IMPOSED UPON ARTIST HEREUNDER SHALL BE DEEMED TO APPLY INDIVIDUALLY AND COLLECTIVELY TO EACH OF THE MEMBERS OF ARTIST.
17. ARTIST AGREES TO DELIVER OR CAUSE TO BE DELIVERED ALL NECESSARY INFORMATION, CONSENTS, LICENSES AND PERMISSIONS SUCH THAT STATUE MAY MANUFACTURE, DISTRIBUTE, AND RELEASE THE RECORDINGS HEREUNDER.
18. THIS AGREEMENT SHALL BE DEEMED TO HAVE BEEN MADE IN THE STATE OF CALIFORNIA, UNITED STATES OF AMERICA, AND THE LAWS OF THE STATE OF CALIFORNIA SHALL GOVERN ITS VALIDITY, CONSTRUCTION AND EFFECT. THE COURTS IN THE STATE OF CALIFORNIA, STATE AND FEDERAL, WILL HAVE EXCLUSIVE JURISDICTION OVER ANY CONTROVERSIES REGARDING THIS AGREEMENT. VENUE AND JURISDICTION WITH REGARD TO AND DISPUTE ARISING HEREIN WILL BE IN THE STATE OF CALIFORNIA, COUNTY OF LOS ANGELES.
19. STATUE MAY AT STATUE'S ELECTION ASSIGN THIS AGREEMENT OR ANY OF STATUE'S RIGHTS HEREUNDER.
20. THE TERM OF THIS AGREEMENT WILL COMMENCE ON 2004 AND TERMINATE ON . THE AGREEMENT WILL THEREAFTER AUTOMATICALLY RENEW FOR SUCCESSIVE ONE-YEAR PERIODS, UNLESS EITHER PARTY TENDERS NOTICE OF TERMINATION WITHIN SIXTY (60) DAYS PRIOR TO THE EXPIRATION OF THE INITIAL OR ANY RENEWAL TERM.
21. THIS AGREEMENT MAY BE EXECUTED IN COUNTERPARTS.
22. IF ARTIST HAS DECLINED TO BE LISTED ON THE STATUE WEB SITE AS SET FORTH IN SECTION 2 ABOVE, STATUE RESERVES THE RIGHT AT STATUE’S ELECTION TO REMOVE AND DELETE THIS RECORDING FROM ITS CATALOGUE AND CEASE DISTRIBUTION OF SAID RECORDING IF AT ANY TIME SALES IN ANY CALENDAR MONTH AMOUNT TO LESS THAN 10 UNITS
STATUE RECORDS GROUP
My band and I have some of our songs over on "soundclick.com", and yesterday a representative from "Statue Records" (I never heard of them either) emailed me with a few questions about whether or not I'd be interested in signing with them. Today, he emailed me a record contract so that I could look it over,...but I'm not gonna do a damn thing til my fellow metalheads here say it's a good deal.
Seriously, dudes and dudettes, please let me know if this is a good idea or not, cause I'm too damn young to be in legal troubles with anyone, ya know?
Ok, here's the contract. (sorry about the length)
--------
DEAL POINTS
· ARTIST RETAINS OWNERSHIP OF MASTERS.
· ARTIST RETAINS OWNERSHIP OF PUBLISHING.
· TERM OF AGREEMENT IS AT DISCRETION OF ARTIST (TO BE DETERMINED PRIOR TO EXECUTION)
· STATUE MANUFACTURES AND PACKAGES RECORDINGS AND ARTWORK.
· ARTIST MAY PURCHASE RECORDINGS MANUFACTURED BY STATUE AT A DISCOUNTED RATE.
· ARTIST MAY CONTINUE TO MANUFACTURE AND SELL CD’S ON THEIR OWN.
IF ARTIST HAS MANUFACTURED CD’S, AT ARTIST OPTION, STATUE WILL DISTRIBUTE THOSE CD’S AT AN ALTERNATIVE ROYALTY RATE THAN THAT OFFERED BELOW.
STATUE RECORDS GROUP
NON EXCLUSIVE
DISTRIBUTION CONTRACT
#2004-
1. THIS AGREEMENT DATED _______________ 2004 IS BETWEEN STATUE RECORDS INC.(HEREINAFTER REFERRED TO AS "STATUE"), HAVING ITS PRINCIPAL PLACE OF BUSINESS LOCATED IN HOLLYWOOD CA, AND ___________________________________________________________________________________________________ CURRENTLY PROFESSIONALLY KNOWN AS _____________________________________________________________________ (HEREINAFTER REFERRED TO AS "ARTIST"), WHOSE ADDRESS IS _________________________________________________________________________________. THE PURPOSE OF THIS AGREEMENT IS TO PROVIDE FOR ARTIST'S DELIVERY TO STATUE RECORDS OF MASTER RECORDINGS (AS HEREINAFTER DEFINED) TO BE EMBODIED ON AN EP OR LP AND STATUE'S PROMOTION, RELEASE AND DISTRIBUTION THEREOF.
2. ARTIST AGREES TO DELIVER (1) LP MASTER RECORDING (AS HEREINAFTER DEFINED) TO STATUE IN CD OR CDR FORMAT, SAID LP WILL CONSIST OF ___ SONGS. STATUE WILL MANUFACTURE CD’S AS REQUIRED TO FULFILL INTERNET AND RETAIL ORDERS FOR THIS PRODUCT. AS AN ALTERNATIVE, AND IN THE EVENT ARTIST CHOOSES TO DELIVER TO STATUE MANUFACTURED CD’S AND OR CASSETTES, ARTIST WILL DELIVER AN INITIAL SHIPMENT OF 0 COPIES (ONLY FILL IN IF ARTIST IS PROVIDING PRODUCT) OF THE RECORDING IN CASSETTE OR CD FORMAT. THE TERRITORY FOR RELEASE OF THIS RECORDING WILL BE THE WORLD. INCLUSION IN THE STATUE RECORDS WEB SITE IS AT ARTIST OPTION. IF ARTIST ELECTS TO BE LISTED ON THE STATUE RECORDS WEB SITE (STATUERECORDS.COM) ON EXECUTION OF THIS AGREEMENT ARTIST WILL TENDER TO STATUE RECORDS A ONE TIME SET UP FEE PAYMENT IN THE SUM OF ONE HUNDRED DOLLARS TO COVER WEB PROGRAMMING COSTS ASSOCIATED WITH INCLUSION OF ARTIST RECORDINGS ON THE STATUE RECORDS WEB SITE. (CHECK ONE OF THE TWO FOLLOWING OPTIONS) ARTIST IS TO BE INCLUDED ON STATUE WEB SITE _____, ARTIST DECLINES TO BE INCLUDED ON STATUE WEB SITE_____.
3. FOR THE RIGHTS HEREIN GRANTED AND FOR THE SERVICES TO BE RENDERED HEREUNDER BY ARTIST, STATUE SHALL PAY ARTIST WITH RESPECT TO EACH RECORDING (AS HEREINAFTER DEFINED) EMBODYING SOLELY THE MASTER RECORDINGS HEREUNDER WHICH ARE SOLD IN THE TERRITORY OR DOWN LOADED FROM THE STATUE INTERNET SITE A ROYALTY OF 25% (SOMETIMES HEREINAFTER REFERRED TO AS THE "BASIC RATE") COMPUTED ON A ROYALTY BASE OF THE SUGGESTED WHOLESALE LIST PRICE ("SWLP") OF THE RECORDING OR THE ACTUAL RETAIL PRICE OF INTERNET DOWN LOADS. STATUE WILL NOT PAY ARTIST ANY ROYALTY INCLUDING BUT NOT LIMITED TO, MECHANICAL AND PERFORMANCE ROYALTIES FOR RECORDINGS SOLD DIRECTLY TO THE ARTIST AT THE ARTIST WHOLESALE RATE AS SET FORTH IN PARAGRAPH 10 HEREIN
4. NO ROYALTIES SHALL BE PAYABLE IN RESPECT OF RECORDINGS HEREUNDER GIVEN AWAY FOR PROMOTIONAL PURPOSES OR SOLD AT BELOW STATED WHOLESALE PRICES TO DISC JOCKEYS, RECORD REVIEWERS, RADIO, ARTIST AND TELEVISION STATIONS AND NETWORKS, MOTION PICTURE COMPANIES, MUSIC PUBLISHERS, OR FOR THE FIRST 100 UNITS SOLD AT RETAIL OR OVER THE INTERNET. STATUE'S CUSTOMARY CONTAINER CHARGES FOR ALBUMS, TAPES, JACKETS, BOXES, OR OTHER PACKAGING AND CONTAINERS AND SHIPPING COSTS WILL BE EXCLUDED FROM THE ROYALTY BASE FOR THE PURPOSE OF COMPUTING ROYALTIES.
5. (A) PAYMENT OF ACCRUED ROYALTIES, IF ANY, SHALL BE MADE SEMI-ANNUALLY ON OR BEFORE (45) DAYS AFTER THE END OF THE APPLICABLE PERIOD ENDING IN MARCH AND SEPTEMBER OF EACH YEAR.
6. SUBJECT TO THE TERMS AND CONDITIONS OF THIS AGREEMENT, ARTIST HEREBY GRANTS A LICENSE TO STATUE TO REPRODUCE AND DISTRIBUTE THE MASTER RECORDINGS IN THE TERRITORY. ARTIST'S DOES HEREBY LICENSE ITS RIGHTS, TITLES AND INTERESTS IN AND TO THE MASTER RECORDINGS HEREUNDER EMBODIED ON THE RECORDINGS HEREIN DEFINED AND ALL REPRODUCTIONS MADE THEREFROM, TOGETHER WITH ALL SOUND RECORDING COPYRIGHTS THEREIN (EXCLUDING THE COPYRIGHTS TO THE UNDERLYING COMPOSITIONS) AND THE PERFORMANCES EMBODIED THEREIN, ARE HEREBY LICENSED, FOR THE TERM OF THIS AGREEMENT, TO STATUE FOR THE TERRITORY. THE LICENSE WILL BE FREE OF ANY CLAIMS WHATSOEVER BY ANY PERSON DERIVING ANY RIGHTS OR INTEREST FROM ARTIST. WITHOUT LIMITATION OF THE FOREGOING, STATUE SHALL HAVE THE RIGHT TO MAKE RECORDINGS OR EFFECT PAID INTERNET DOWNLOADS OF SUCH RECORDINGS OR OTHER REPRODUCTIONS OF THE PERFORMANCES EMBODIED IN SUCH MASTER RECORDINGS SOLELY WITHIN THE TERRITORY BY ANY METHOD NOW OR HEREAFTER KNOWN, AND TO SELL DEAL IN OR OTHERWISE DISPOSE OF THE RECORDINGS SOLELY WITHIN THE TERRITORY OR STATUE MAY AT STATUE'S ELECTION REFRAIN THEREFROM. THE TERRITORY FOR PURPOSES OF THIS SECTION AND SECTION 7 BELOW IS DEFINED AS THE WORLD.
7. STATUE SHALL HAVE THE RIGHT IN THE TERRITORY TO USE AND TO ALLOW OTHERS TO USE ARTIST'S NAME, LIKENESS AND BIOGRAPHICAL MATERIAL CONCERNING ARTIST, SOLELY FOR ADVERTISING THE RECORDINGS HEREUNDER AND FOR PURPOSES OF PROMOTING ARTIST AND MARKETING THE RECORDINGS HEREUNDER.
8. ARTIST SHALL BE RESPONSIBLE FOR THE PAYMENT OF MECHANICAL ROYALTIES DIRECTLY TO THE COPYRIGHT PROPRIETORS OF THE MUSICAL WORKS EMBODIED ON THE MASTER RECORDINGS HEREUNDER.
9. ARTIST SHALL BE SOLELY RESPONSIBLE FOR AND SHALL PAY ALL ROYALTIES AND OTHER COMPENSATION WHICH MAY BE PAYABLE TO ANY PRODUCERS OF THE MASTER RECORDINGS HEREUNDER.
10. STATUE AGREES TO SELL THE RECORDINGS HEREUNDER TO ARTIST IN ANY FORMAT CONFIGURATION CURRENTLY IN OPEN CATALOGUE AT ITS “ARTIST” WHOLESALE PRICE THEREFORE. STATED “ARTIST” WHOLESALE PRICES ARE AS FOLLOWS: FULL LENGTH CD'S ARE $7.95, CD EP’S ARE $7.00 EACH. STATUE AGREES TO SELL CD LP’S OR EP’S IN QUANTITIES OF 10 UNITS AT $3.00 EACH TO ARTIST AT ARTIST ELECTION. THE $3.00 PRICING WILL BE EXEMPT FROM ALL ROYALTY PAYMENTS, ARTIST WAIVES ALL ROYALTIES ON SUCH SALE . STATUE RESERVES THE RIGHT TO DETERMINE THE FORMATS IN OPEN CATALOGUE. COMPACT DISCS WILL ALWAYS BE IN OPEN CATALOGUE. STATUE RESERVES THE RIGHT TO RAISE THE RATES SET FORTH IN THIS SECTION BY 10 PERCENT PER YEAR DURING THE TERM OF THIS AGREEMENT. THE RIGHT TO SO INCREASE WOULD OCCUR ON THE ONE YEAR ANNIVERSARY OF THE EXECUTION DATE AND WOULD SO APPLY TO EACH ANNIVERSARY DATE FOR THE TERM OF THIS AGREEMENT.
11. NEITHER PARTY HEREUNDER SHALL BE DEEMED TO BE IN BREACH OF ANY OF ITS OBLIGATIONS HEREUNDER UNLESS AND UNTIL THE PARTY NOT IN BREACH SHALL HAVE GIVEN THE BREACHING PARTY WRITTEN NOTICE BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, DESCRIBING IN DETAIL THE BREACH, AND THE BREACHING PARTY SHALL HAVE FAILED TO CURE THAT BREACH WITHIN (30) DAYS, AFTER THE BREACHING PARTY'S RECEIPT OF SUCH WRITTEN NOTICE.
12. THE INVALIDITY OR UNENFORCEABILITY OF ANY PROVISION HEREOF SHALL NOT AFFECT THE VALIDITY OR ENFORCEABILITY OF ANY OTHER PROVISION HEREOF.
13. THIS AGREEMENT SETS FORTH THE ENTIRE AGREEMENT BETWEEN STATUE AND ARTIST WITH RESPECT TO THE SUBJECT MATTER HEREOF. NO MODIFICATION, AMENDMENT, WAIVER, TERMINATION OR DISCHARGE OF THIS AGREEMENT OR ANY PROVISION HEREOF SHALL BE BINDING UPON STATUE OR ARTIST UNLESS CONFIRMED BY A WRITTEN INSTRUMENT SIGNED BY ARTIST AND BY A DULY AUTHORIZED OFFICER OF STATUE.
14. NEITHER PARTY'S WAIVER OF ANY PROVISION OF THE AGREEMENT OR ANY DEFAULT HEREUNDER SHALL AFFECT SUCH PARTY'S RIGHTS THEREAFTER TO ENFORCE SUCH PROVISIONS OR TO EXERCISE ANY RIGHT OR REMEDY IN THE EVENT OF ANY OTHER DEFAULT, WHETHER OR NOT SIMILAR. ALL REMEDIES, RIGHTS, UNDERTAKINGS, AND OBLIGATIONS CONTAINED IN THIS AGREEMENT SHALL BE CUMULATIVE AND NONE OF THEM SHALL BE IN LIMITATION OF ANY OTHER REMEDY, RIGHT, UNDERTAKING OR OBLIGATION OF EITHER PARTY.
15. ARTIST REPRESENTS AND WARRANTS THAT EACH MEMBER IS OVER 18 YEARS OF AGE AND IS LEGALLY COMPETENT TO EXECUTE THIS AGREEMENT. IF ARTIST IS A MINOR UNDER THE AGE OF 18 ARTIST MAY CONTRACT THROUGH THE AGENCY OF A PARENT OR GUARDIAN.
16. AS USED IN THIS AGREEMENT THE TERM "ARTIST" SHALL BE DEEMED TO REFER INDIVIDUALLY AND COLLECTIVELY TO EACH OF THE MEMBERS OF THE GROUP COMPRISING ARTIST. THE OBLIGATIONS, LIABILITIES, PROHIBITIONS AND RESTRICTIONS IMPOSED UPON ARTIST HEREUNDER SHALL BE DEEMED TO APPLY INDIVIDUALLY AND COLLECTIVELY TO EACH OF THE MEMBERS OF ARTIST.
17. ARTIST AGREES TO DELIVER OR CAUSE TO BE DELIVERED ALL NECESSARY INFORMATION, CONSENTS, LICENSES AND PERMISSIONS SUCH THAT STATUE MAY MANUFACTURE, DISTRIBUTE, AND RELEASE THE RECORDINGS HEREUNDER.
18. THIS AGREEMENT SHALL BE DEEMED TO HAVE BEEN MADE IN THE STATE OF CALIFORNIA, UNITED STATES OF AMERICA, AND THE LAWS OF THE STATE OF CALIFORNIA SHALL GOVERN ITS VALIDITY, CONSTRUCTION AND EFFECT. THE COURTS IN THE STATE OF CALIFORNIA, STATE AND FEDERAL, WILL HAVE EXCLUSIVE JURISDICTION OVER ANY CONTROVERSIES REGARDING THIS AGREEMENT. VENUE AND JURISDICTION WITH REGARD TO AND DISPUTE ARISING HEREIN WILL BE IN THE STATE OF CALIFORNIA, COUNTY OF LOS ANGELES.
19. STATUE MAY AT STATUE'S ELECTION ASSIGN THIS AGREEMENT OR ANY OF STATUE'S RIGHTS HEREUNDER.
20. THE TERM OF THIS AGREEMENT WILL COMMENCE ON 2004 AND TERMINATE ON . THE AGREEMENT WILL THEREAFTER AUTOMATICALLY RENEW FOR SUCCESSIVE ONE-YEAR PERIODS, UNLESS EITHER PARTY TENDERS NOTICE OF TERMINATION WITHIN SIXTY (60) DAYS PRIOR TO THE EXPIRATION OF THE INITIAL OR ANY RENEWAL TERM.
21. THIS AGREEMENT MAY BE EXECUTED IN COUNTERPARTS.
22. IF ARTIST HAS DECLINED TO BE LISTED ON THE STATUE WEB SITE AS SET FORTH IN SECTION 2 ABOVE, STATUE RESERVES THE RIGHT AT STATUE’S ELECTION TO REMOVE AND DELETE THIS RECORDING FROM ITS CATALOGUE AND CEASE DISTRIBUTION OF SAID RECORDING IF AT ANY TIME SALES IN ANY CALENDAR MONTH AMOUNT TO LESS THAN 10 UNITS
STATUE RECORDS GROUP
