ROYALTY SHARING CONTRACT
Open Mic Artists Ltd (hereinafter referred to as the "Publisher") and
The "Registered Artist/s" (hereinafter referred to as "Assignee").The Publisher and Assignee agrees as follows concerning any and all musical compositions (Except Cover Versions of previously published Music) uploaded to the "Site" owned and operated by Open Mic Artists Ltd, it's subsidaries or appointee's in whichever form is designated from time to time by the publisher.
For good and valuable consideration by each of the parties hereto given to the other, receipt of which is hereby acknowledged, and in consideration of the promises and covenants hereinafter contained, IT IS AGREED AS FOLLOWS:1.) Publisher shall deduct from gross publishing receipts (monies received) for the following expenses to the extent that said expenses were actually paid or incurred by the Publisher including, but not limited to, songwriter's royalties and advances, registration fees, demonstration tapes, lead sheets, arrangements, and all other miscellaneous, fees and expenses incurred in behalf of said composition; Publisher shall pay to Assignee Eighty-five Percent (85%) of:(i) Net publishing receipts less the deductions.(ii) Extraordinary expenses (for example, advertising publicity, promotional expenses) shall not be incurred, or if incurred, not compensated or reimbursed for without the written consent of the other approving the expenditure and agreeing to share therein.
(iii) In the event of extraordinary expenses were agreed upon, but the expenses not equally borne, then the Publisher shall make the required adjustments at the time of paying the Assignee.
2.) Sheet music and all printed material concerning the composition shall bear the name(s) of the author/s, writer/s, copyright registrant/s and/or Copyright Holder.
3.) B.M.I. or A.S.C.A.P. song clearance and record clearance cards and forms shall bear the name(s) of the copyright registrant/s.
4.) Were the "Registered Artist" has opted to use either The PPL (Phonographic Performance Ltd) Licence help by the Publisher and/or issued through the publisher shall pay One Hundred Percent (100%) to the Publisher and the Publisher shall pay to the assignee Eighty-five percent (85%) of the net amount as set out in this agreement.
5.) The Publisher shall make royalty statements and payments to the Assignee.
6.) The Publisher shall render statements and make payments to the Assignee either Monthly in arrears or semi-annually within Thirty (30) days after the last day of each January through June and July through December semi-annual period. (Assignee's with less than FIFTY POUNDS STERLING (£50.00) in royalties will be paid semi annually.)
7.) Royalty Payment Schedule:
(i) Publisher shall not be required to pay royalties on professional and complimentary copies and records or copies and records which are distributed for exploitation purposes.
(ii) Eighty-Five (85%) percent of all NET sums actually received upon each and every printed, published, digital and or physical copy of each and every arrangement and edition other than the regular piano forte edition, published and sold and paid to the Publisher in the United Kingdom or other teritory, except that in the event that the composition shall be used or caused to be used in whole or in part in conjunction with one or more other musical compositions in a folio or album, the Assignee shall be entitled to receive Eighty-five (85%) percent of all net sums actually received from such publication and not the royalties relating to the total number of copyrighted or royalty-bearing works contained in such folio or album.
(iii) Eighty-five (85%) percent of all net sums actually received by the Publisher from the licensing of mechanical instrument, electrical transcription, motion picture and television synchronisation rights and all other rights (including the use thereof in song lyric folios or magazines) now known or hereafter to become known in the United Kingdom and or the Rest of the World, except that the assignee shall not be entitled to receive any sum or sums which derive from ASCAP or BMI, (as the case may be) or from any other performance right society throughout the world which pays a share of performance fees directly to authors and composers, unless said payments are made directly to the publisher.
(iv) If the respective performance right society shall cease to operate, The Publisher shall administer the performance rights in the composition and shall pay the assignee the percentage thereof indicated in (iii) above.
(v) If and when publication or use of the composition is made outside of the United Kingdom, The Publisher shall pay to the Assignee Eighty-five (85%) percent of all net sums actually received by Publisher from sales and uses (except performance fees referred to in (iii) above), all subject to deduction for foreign income and other taxes required to be withheld by the relevant and applicable laws in the Assignee's country of residence.
8.) The Publisher shall be free to make licensing and sub-publication agreements by consulting the Assignee.
(i) The publisher is not required to Identify the end user to the assignee of any licensing and sub-publication agreements until after the agreements are completed.
Open Mic Artists Ltd