ROYALTY PROVISIONS OF PRODUCER AGREEMENT
This attachment to the Producer Agreement between
___________ (hereinafter referred to as the "Company") and ___________________
(hereinafter referred to as the "Producer") dated _______, 199_,
is to specify the payment of royalties to Producer by the Company
1. Producer has received EIGHT THOUSAND FIVE HUNDRED DOLLARS ($8,500.00) for his production of two Master Recordings of the Company's recording artist __(Artist)__. This is deemed as a recoupable advance against any royalties earned from sales.
2. After the Company's recoupment of the abovementioned advance, the Producer will be paid royalties at the following rate:
3. Royalty statements and payments shall be made semi-annually and will be made within 45 days of December 31st and June 30th of each year for the six month prior accounting period.
4. Such royalty statements and payments to
Producer shall be deemed to be final unless written notification by Producer
to Company is made within one year specifying the reasons such
5. Upon such written notice by Producer to Company, the accounting books of the Company which involve the Producer's royalties shall be made available to a certified public accountant designated by Producer.
6. This Attachment is the sole basis for any and all payment of royalties by Company to Producer and supersedes and replaces any prior oral or written agreement between the Producer and the Company.
Understood and agreed to by the parties who have set their names below.
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