Heads of Agreement (dub k recordings!™)
This short form agreement lists the key clauses of the proposed contract and allows the parties to reach basic agreement swiftly in order to progress the proposed business swiftly.
1. Parties
This agreement is between the two parties named below
a. Record Company: dub k recordings!™
b. Artist: dj kwik!
The above named Record Company hereby engages the above named artist jointly and severally to produce master recordings for commercial duplication and sale to the mutual benefit of both parties.
2. Commencement date
Friday 7th November 2008
3. Term
Unless terminated by the party / parties indicated in clause 5 below, this agreement will be in force until the artist delivers:
20 Mix CD’s
4. Option to Extend
The record company is entitled to extend this agreement beyond the initial term indicated in clause 3 above by:
10 Mix CD’s
5. Termination
This contract may be terminated at any time by:
Raymond Adrian Brown
6. Territory
This contract is operative throughout:
UK
7. Warranty
The artist hereby warrants that at the commencement of the contract he is free from all other Record Company contracts, which may previously have existed.
8. Exclusivity
The artist hereby grants exclusivity of service to the above named Record Company under the terms of the clauses in this agreement. He agrees to engage no other person or persons in this capacity under the terms of the clauses in this agreement.
9. Royalty rate
The record company hereby warrants remunerating the artist for sales of duplication of the master recording at the following rate (gross) of sales revenue as a percentage of record company income (dealer price):
[Classified]
10. Advance
In recognition of anticipated sales royalties the record company hereby grants the artist an advance payment of:
[Classified]
11. This agreement is recognized as legal and binding under
English Law
dj kwik! ~ “FRESH WID IT!”
