Hi folks,
just wanted to get your thoughts on a contract I have been offered on a couple of my tracks.
Library seems to be very active (offering genre based albums) and the owner is a successful writer himself. I am keen to get into it. Library is transitioning to exclusive but owner has agreed to sign my submitted tracks Nonex which I am pleased about (they are already signed Nonex to another library), all subsequent new signings would have to be exclusive.
The Nonex contract he sent me looks straightforward to me with a 50/50 split on sync and back end but the document does not name the tracks that have been selected (although he confirmed which ones he wants in his reply). When I asked about this his reply was as follows:
Signing the agreement doesn’t effect what tracks that I want to use — it’s just basically an agreement with my library stating that you give me permission to include your music in the catalog — that is music that we both mutually agree on. So once you sign it, you can submit tracks whenever.
The owner seems a straight up guy but my question is whether any of you have come across a similar arrangement and does it sound ok? (BTW he has already told me any signed tracks will be retitled by mutual agreement)
Any thoughts would be much appreciated.
JD