1. DEFINITIONS
1.1 Work: Refers to the creative contribution of the Creator to the Project, including but not limited to [insert specific details, e.g., songwriting, performance, or other creative inputs].
1.2 Net Revenue: Refers to gross revenue derived from the exploitation of the Project, less reasonable deductions such as taxes, distributor fees, and marketing expenses, as specified in Schedule A.
2. ROYALTY PAYMENTS
2.1 Royalty Rate: The Creator shall receive royalties equal to [Insert Percentage, e.g., “15%”] of the Net Revenue generated from the Project.
2.2 Payment Schedule: Royalties shall be calculated quarterly and disbursed to the Creator within thirty (30) days of the end of each fiscal quarter.
2.3 Accounting and Reporting: The Company shall provide the Creator with detailed revenue statements, including gross income, deductions, and net revenue, within the payment period.
3. RIGHTS AND LICENSES
3.1 Ownership: The Creator retains all rights to their original contributions unless otherwise assigned under this Agreement.
3.2 License: The Creator grants the Company a non-exclusive, worldwide license to use, distribute, and commercialize the Work solely for purposes related to the Project.
4. TERM AND TERMINATION
4.1 Term: This Agreement shall remain in effect for [Insert Term, e.g., “five (5) years”], unless terminated earlier under Section 4.2.
4.2 Termination: Either Party may terminate this Agreement upon thirty (30) days’ written notice if the other Party materially breaches any provision and fails to cure such breach within the notice period.
5. REPRESENTATIONS AND WARRANTIES
5.1 The Creator represents and warrants that the Work is original, does not infringe upon third-party rights, and is free of any encumbrances.
5.2 The Company represents and warrants that it shall use the Work in accordance with applicable laws and industry standards.
6. INDEMNIFICATION
Each Party agrees to indemnify and hold the other harmless from any claims, damages, or liabilities arising out of a breach of this Agreement.
7. GOVERNING LAW AND DISPUTE RESOLUTION
This Agreement shall be governed by the laws of [Insert Jurisdiction]. Any disputes shall be resolved through arbitration in accordance with the rules of [Insert Arbitration Body].
8. ENTIRE AGREEMENT
This Agreement constitutes the entire understanding between the Parties and supersedes all prior agreements related to the subject matter herein.
