Please let me know if anything stands out on this contract? I have taken out the name of the library. It seems like they are asking a lot for a non-exclusive contract. Thank you for your help here. I don’t want to get into legal trouble . Here is part of the contract below regarding recording income splits. Am I entitled to give any of my CD sales with this song to them as we’ll? Thanks!
COMPENSATION: In consideration of the rights granted herein and LICENSOR’s full performance hereunder, LICENSOR hereby agrees to be paid in accordance with the terms set forth below. Please check all boxes that apply.
? I/We am/are the PUBLISHER of the COMPOSITIONS:
(a) Fifty percent (50%) of the income derived or generated by______ for its Services.
(b) Fifty percent (50%) of the “publisher’s share” of royalties from public performances of the
Compositions (whether licensed directly or not). Songwriter retains one hundred percent (100%) of the “writer’s share.”
(c) Such percentages are also listed in the attached Schedule “A,” attached and incorporated by reference hereto.
? I/We am/are the SOUND RECORDING OWNER of the SOUND RECORDINGS:
(a) Fifty percent (50%) of the income derived and/or generated by________ for its Services.
(b) Such percentages are also listed in the attached Schedule “A,” attached and incorporated by
reference hereto.
OTHER: In consideration of the rights granted herein, LICENSOR hereby agrees as follows. Please check all boxes that apply.
? If due to_______Services, LICENSOR enters into an exclusive agreement with a third party for use of the CATALOGUE in whole or in part and/or for new sound recordings, compositions, material and/or content (i.e.,
distributing, recording, publishing, digital, wireless, new media agreement(s)), then LICENSOR shall pay, or direct that _____be paid pursuant to a letter of direction, a fee to be negotiated in good faith, but which shall not be less than fifteen percent (15%) of the initial advance, fee and/or royalties received and/or to be received by LICENSOR under such third party deal. The consideration to be paid to ____for such placement and/or pitching is in addition to any other fees due to ____under this Agreement, including buyouts.
? If due _____services, LICENSOR receives alternative marketing placements (i.e., link to website, link to retail, marketing card at the end of show, posters on set, T-Shirt on actor, etc.), then _____shall receive an additional Ten_ percent (10%) of the fee it receives for such placement as set forth herein.
? If due to______Services, ARTIST performs at a TV or film related event (i.e., premiere party, charity function, DVD release, series party, etc.) and LICENSOR receives income for it, then ____shall receive Ten percent (10%) of all fees paid to, credited to or on behalf of LICENSOR therefrom.
? If due to_____ Services, ARTIST performs “on-air” on TV and/or in a film and LICENSOR receives income for it, then_____shall receive Ten percent (10%) of all fees paid to, credited to or on behalf of LICENSOR therefrom.