Scribd Logo
Upload

Welcome to Scribd!

  • 311 views

    Deal Memo 2 Nepkie

    Uploaded by

    api-317235086
    The recording agreement between KART Entertainment Records and The New Age Hipsters is for an initial period of 12 months following the release of 3 albums. The label has options to extend the agreement for additional 12 month periods. The band cannot record for another label without permission. Recordings can be exploited worldwide, with varying royalty rates depending on the territory. The band must deliver 3 albums per contract period, and the label will fund $150,000 per album for recording costs. The band's royalty is 15% and the producer receives 5% from the band's share, after recouping expenses. The label has rights to match any merchandising deals the band offers third parties.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Deal Memo 2 Nepkie

    Uploaded by

    api-317235086
    311 views4 pages
    The recording agreement between KART Entertainment Records and The New Age Hipsters is for an initial period of 12 months following the release of 3 albums. The label has options to extend the agreement for additional 12 month periods. The band cannot record for another label without permission. Recordings can be exploited worldwide, with varying royalty rates depending on the territory. The band must deliver 3 albums per contract period, and the label will fund $150,000 per album for recording costs. The band's royalty is 15% and the producer receives 5% from the band's share, after recouping expenses. The label has rights to match any merchandising deals the band offers third parties.

    Original Title

    deal memo 2 nepkie

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The recording agreement between KART Entertainment Records and The New Age Hipsters is for an initial period of 12 months following the release of 3 albums. The label has options to extend the agreement for additional 12 month periods. The band cannot record for another label without permission. Recordings can be exploited worldwide, with varying royalty rates depending on the territory. The band must deliver 3 albums per contract period, and the label will fund $150,000 per album for recording costs. The band's royalty is 15% and the producer receives 5% from the band's share, after recouping expenses. The label has rights to match any merchandising deals the band offers third parties.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    311 views4 pages

    Deal Memo 2 Nepkie

    Uploaded by

    api-317235086
    The recording agreement between KART Entertainment Records and The New Age Hipsters is for an initial period of 12 months following the release of 3 albums. The label has options to extend the agreement for additional 12 month periods. The band cannot record for another label without permission. Recordings can be exploited worldwide, with varying royalty rates depending on the territory. The band must deliver 3 albums per contract period, and the label will fund $150,000 per album for recording costs. The band's royalty is 15% and the producer receives 5% from the band's share, after recouping expenses. The label has rights to match any merchandising deals the band offers third parties.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    Tyler Stankelis

    Deal Memo #2

    Nepkie

    Recording Agreement, KART Entertainment Records


    Term

    The term between KART Entertainment Records and The New Age Hipsters will
    be in effect on the date this agreement is signed, and it shall continue for an
    Initial Period of twelve months following the publication of the master recordings
    of three albums.1 The company is granted three consecutive separate options to
    extend the term for further periods, each of which contain the same terms and
    conditions that will apply until the Initial Period, except as otherwise specifically
    set forth herein. The artist will be notified of renewal, and upon notification, the
    second option period will begin at the end of the current contract2

    Exclusivity
    The New Age Hipsters cannot record for any other company, unless KART
    Entertainment Records has written that it does not plan to record songs in the
    future under the contract.

    Territory
    Any song recorded by The New Age Hipsters may be exploited in all regions.
    Countries in question should be negotiated between the artist and the record
    label. Canada will receive a 75% rate. UK will receive 80% rate. Japan, Australia,
    New Zealand & the EU will receive 70%. Rest of the world will recieve 60%. 3

    Recording Commitment

    The artist will deliver three albums during each contract period. The record label
    will decide the scheduling and coordination of recording sessions, but must give
    the artist a 31-days notice.4

    1 The Musicians Business and Legal Guide, 4th edition, page 286
    2 The Musicians Business and Legal Guide, 4th edition, page 287
    3 The Musicians Business and Legal Guide, 4th edition, page 310
    4 The Musicians Business and Legal Guide, 4th edition, page 288

    Recording Procedure

    Prior to the beginning of each individual recording session, both parties shall
    mutually agree on the following before further proceedings:
    The artist, the artists manager and the company must mutually agree on the
    producer chosen and the financial terms of the artists agreement with that producer,
    the selection of songs to be recorded, and the locations where the recording and
    mixing will take place5. If the artist, the artists manager and the company cannot
    reach an agreement, the artists manager will have final decision.
    Recordings must be delivered to KART Entertainment Records within forty-eight (48)
    hours following each recording session, with valid Certificates of Employment for all
    producers and mixers in KART Entertainment Records then-standard form, and all
    necessary W-4 and other tax forms.
    Changes in recording budget shall be sent to KART Entertainment Records within
    two weeks (fourteen days).6

    Grant Rights

    All recordings embodying the performances of Artist recorded during the Term or
    submitted hereunder from the inception of the recording thereof, and all
    reproductions derived therefrom, together with the performances embodied
    thereon, shall be the property of company in perpetuity for the territories agreed
    upon.7

    5 The Musicians Business and Legal Guide, 4th edition, page 289
    6 The Musicians Business and Legal Guide, 4th edition, page 290
    7 The Musicians Business and Legal Guide, 4th edition, page 292
    8 The Musicians Business and Legal Guide, 4th edition, page 302
    9 The Musicians Business and Legal Guide, 4th edition, page 308
    10 The Musicians Business and Legal Guide, 4th edition, page 348
    11 The Musicians Business and Legal Guide, 4th edition, page 319

    Advances and Recoupment

    For all albums recorded under this contract, the recording funded will be a fixed
    amount of $150,000 dollars (US). For subsequent albums, the amount of the
    fund will be determined by 66.66% multiplied by the gross amount of royalties
    earned by the artist from sales of the prior album. The gross amount of artist
    royalties will be measured from the period up until 12 months after the date the
    album subject to the recording fund is actually delivered.8

    Artist and Producer Royalty

    The artist royalty rate is 15% after fully recouping the advance and is paid to him
    prospectively. The producer royalty rate is 5% after fully recouping the advance.
    The amount is paid out of the artist royalty. 9

    Merchandising

    5 The Musicians Business and Legal Guide, 4th edition, page 289
    6 The Musicians Business and Legal Guide, 4th edition, page 290
    7 The Musicians Business and Legal Guide, 4th edition, page 292
    8 The Musicians Business and Legal Guide, 4th edition, page 302
    9 The Musicians Business and Legal Guide, 4th edition, page 308
    10 The Musicians Business and Legal Guide, 4th edition, page 348
    11 The Musicians Business and Legal Guide, 4th edition, page 319

    If the artist wants to enter a deal with a third party to grant the party
    merchandising rights to manufacture and/or sell products that embody the artists
    name and likeness, the company has the right to match the terms of the deal. If
    KART Entertainment Records does not want to enter into an agreement with the
    artist or the same terms, the artist is granted the right to make an agreement with
    the third party without the label present in the agreement. 10

    Except as otherwise set forth herein, all notices under this agreement shall be in
    writing and shall be given by courier by reasonable delivery services. 11

    Notices

    To The New Age Hipsters

    Tyler Stankelis
    7 Florence Pl.
    Center Moriches, NY, 11934

    To KART Entertainment Records KART Entertainment Records


    72 Kootenai St. Boise, Idaho 83701

    You might also like