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Exclusive Recording Artist Agreement (Sample) (6)
Exclusive Recording Artist Agreement (Sample) (6)
12.Definitions As used in this Agreement, the following terms shall have the meanings set forth below:
(a) "Master Recordings" - each and every Recording of sound, whether or not coupled with a visual image, by any method and on any other substance or material, whether now or hereafter known, which is used or useful in the recording, production and/or manufacture of PhonographRecords.
(b) "Person" and "Party" - any individual, corporation, partnership, association or other organized group of persons or legal successors or representatives of the foregoing.
(c) "Records", "Phonograph Records" and "Recordings" - all forms of reproductions, now or hereafter known, manufactured or distributed primarily home use, school use, juke box use, or use in means of transportation, embody in (i) sound alone; or (ii) sound coupled with visual images, e.g. "sight and sound" devices.
(d) "Retail Selling Price" - with respect to Records sold for distribution in the United States of America, the suggested retail selling price or suggested retail list price, as the case may be, except that the suggested retail selling price for 12-inch 45 rpm single records shall be deemed to be the suggested retail selling price of a 7-inch 45 rpm single record; and with respect to Records sold for distribution outside of the United States of America, the suggested retail list price of such Records, in, at Company's election, the country of manufacture, the United States of America or the country of sale.
(e) "Royalty Base Price" - the applicable suggested Retail Selling Price of Phonograph Records less all taxes and less the applicable Container Charge.
(f) "Container Charge" - (i) with respect to disc Phonograph Records, twelve (12%) percent of the applicable Retail Selling Price of such Phonograph Records; and (ii) with respect to Phonograph Records in non-disc configurations, twenty-four (24%) percent of the applicable Retail Selling Price of such Phonograph Records; and (iii) with respect to 7-inch Single Phonograph Records contained in non-standard color sleeves, ten (10%) percent of the applicable Retail SellingPrice of such Phonograph Records.
(g) "Net Sales" - gross sales less returns and credits of any nature.
(h) "Advance" - amount recoupable by Company from royalties to be paid to you or on your behalf pursuant to this Agreement or any other agreement between you and Company or it's affiliates.
(i) "Composition" - a single musical composition, irrespective of length, including all spoken words and bridging passages and including a medley.
(j) "Controlled Composition" - a composition written, owned or controlled by you and/or any Person in which you have a direct or indirect interest.
(k) "Album" - one (1) twelve-inch, 33-1/3 rpm Record, or the equivalent thereof, embodying thereon not less than seven (7) Sides nor more than eleven (11) sides, whether or not released, which are recorded in connection with a special album project, that contains at least thirty (30) minutes of playing time.
(l) "Single" or "Single Record" - one (1) 7-inch or 12-inch 45 rpm Record embodying therein not more than three (3) Sides.
(m) "Side" - a Recording of sufficient playing time to constitute one Side of a 45 rpm Record, but not less than two and one-half (2-1/2) minutes continuous sound.
(n) "Sales Through Normal Retail Channels in the United States of America" - sales other than as described in subparagraphs 8(c), (d), (e), (f) and hereof.
(o) "Licensees" - includes, without limitation, subsidiaries, wholly partly owned, and other divisions of Company and any of Company's licensees.
(p) "Delivered" or "Delivery" - the actual receipt by Company of full mixed and edited Master Recordings satisfactory to Company and ready for Company's manufacture of Phonograph Records, and all necessary licenses, consent and approvals.
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