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OF AGREEMENT
Being a short form between the Artist and Split Minds Records
Date:
ARTIST:
FULL NAME:
ADDRESS:
RECOUPABLE COSTS: Costs include, but are not limited to advance, manufacturing,
promotion, tax, shipping, returns, credits, MCPS payments, marketing, promotion,
mastering, artwork/design, digital submission, and administration. The recoupable
amount will be calculated based on the royalty splits below.
ROYALTY: Digital download, internet digital file sales and online on-demand audio
or audio-visual streaming revenue, will generate a royalty equal to 50% of received
income. All physical revenue will generate a royalty equal to 20% of received
rd
income. Any income generated by means of licensing or synchronization to 3 party
releases will generate a royalty equal to 50% of received income. In house album re-
releases will generate a royalty equal to 50% of received income for single
downloads and a royalty equal to 10% for full album downloads. No costs will be
recouped for in house album re-releases.
HALF RATE ITEMS: Mail order, TV advertised, budget releases, record club sales
will all attract a royalty rate 50% of the rate set out in (6) above.
Please note, by signing this short form agreement, you confirm that you have full authority to
assign the rights to the above Master(s), that you are the copyright owner, that any Masters
herein contain no uncleared samples, that you will fully indemnify us for any claims or expenses
incurred by us as a result of your failure to disclose or clear any samples or performances
contained in the Masters, and that you have sought the advice of a solicitor specializing in the
music industry. A full contract may be issued in due course, notwithstanding which the points
within this heads of agreement will remain fixed and are binding. Please also note that this
license will not come into effect until all samples composition copyrights contained within the
Masters herein have been successfully cleared and the final tracklisting on the Album is decided
and you are notified of such.
Date: ........................................
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Date: ........................................