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ARTIST – RECORD LABEL Agreement

 

Between

 

The ARTIST: Indigo Velvet

&

The RECORD LABEL: Vadana Records

 

Date: 19/11/2014

 

 

1 - Term

 

  • The term of this agreement shall be an initial period of twelve months.

 

2 – Options

 

  • By signing this agreement, the ARTIST grants the RECORD LABEL five options, extending the contract for each option for an additional twelve-month term.

 

3 – Delivery requirement

 

  • The ARTIST is required, within each twelve-month term, to deliver a minimum of twenty tracks, to a commercially and technically satisfactory standard.

 

4 – Creative control

 

  • The RECORD LABEL and ARTIST shall be jointly responsible for all decisions regarding the artistic content of the recordings.

 

5 – Territory

 

  • This agreement covers, on an exclusive basis, the following territory: Worldwide.

 

6 – Rights

 

  • The ARTIST agrees to assign all rights relating to all the sound recordings, merchandising and artwork to the RECORD LABEL.

 

  • The ARTIST agrees to assign the rights to use the ARTIST's name in connection with the sale and promotion of the records, to the RECORD LABEL.

 

7 – Advance

 

  • The RECORD LABEL shall not give the ARTIST an advance but agrees to cover recording costs for the minimum recording commitment stated in the “Artist commitment” clause above.

 

8 – Royalties

 

The ARTIST shall be paid 50% of the net profits received by the RECORD LABEL regarding and including the sales of records, live concert tickets and merchandising.

 

9 – Accounting

 

  • The ARTIST shall get paid by the RECORD LABEL twice a year and shall have the option to audit the accounts once a year with sufficient prior notice.

 

10 – Termination

 

  • The RECORD LABEL shall be entitled to terminate this agreement at any time upon the ARTIST's breach of any of the ARTIST's requirements and/or above clauses.

 

11 - Miscellaneous

 

  • The law of the country in which it was signed shall govern this contract.

 

 

 

 

 

 

Completed and signed at ……, on …… in …. original copies.

 

 

 

 

 

 

 

 

The ARTIST                                                                                                             The RECORD LABEL

 

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