PDUB THE PRODUCER LLC, the licensor ("Seller"), in exchange for a cash payment of
and in accordance with the terms stated in this Agreement, grants
rights as defined below in the copyrighted musical composition
The Beat is a copyrighted composition and master recording created by the Seller, who warrants that it contains only sounds created by the Seller or properly licensed to the Seller, and contains no samples that require third-party copyright clearance or licensing.
The Seller grants to the Buyer limited, non-transferable rights to use the Beat in the production of one new musical composition and master recording (“New Song.”) The Buyer shall create the New Song by combining the Beat with substantial new elements including lyrics, instrumental tracks, vocals, samples, or other sounds owned by or properly licensed to the Buyer.
The Seller retains full copyright ownership of the Beat. The Buyer may not loan, rent, share, upload, or resell the Beat. Buyer may not re-assign rights to the Beat, in whole or in part, to any party.
Following the execution of this Agreement, the Seller shall not transfer or license any rights to the Beat to any other parties for any purpose. Previous licensees of the Beat will retain their license rights in full as per Seller’s agreement with them.
Buyer has the right to perform, record, reproduce, distribute, stream, monetize, and sell the New Song worldwide in unlimited quantities in perpetuity. Buyer may license the New Song for synchronization in all media, including film, television, video games, jingles, and commercials.
The ownership of the copyrights in the New Song and the master sound recording are split as follows:
Composition Copyright (“Songwriter/Publishing”): 50% to the Buyer and 50% to the Seller Master Sound Recording Copyright: 50% to the Buyer and 50% to the Seller
The Seller shall receive, in the percentages above, income of any kind and from any source resulting from the exploitation of both copyrights ("Seller's Royalties").
The Buyer must disclose the Seller’s copyright ownership percentages (“split sheet”) to the Buyer’s record label, aggregator, distributor, and publisher. If the Buyer registers the New Song with any copyright authority worldwide (i.e. United States Copyright Office) or with any Performing Rights Organization worldwide (i.e. ASCAP), the Buyer must disclose the Seller’s ownership percentages as listed above.
The Buyer is required to forward all Seller's Royalties to the Seller, and to inform the above parties to forward all Seller's Royalties directly to the Seller in a timely manner.
The Buyer agrees to fully indemnify and hold harmless the Seller (and Seller’s officers, agents, and employees) of and from any and all claims, demands, losses, causes of action, damage, lawsuits, judgments, including attorneys' fees and costs, arising out of or relating to the Buyer’s breach or alleged breach of any term, representation, or warranty of this agreement, including but not limited to the Buyer’s use or alleged use of unlicensed or improperly licensed material in the creation of the New Song and the master sound recording.
The Buyer shall credit the Seller in media releases as: “Pdubcookin.”
The Seller shall deliver the Beat in an untagged master MP3 file + an untagged master WAV file + tracked out WAV files.
This Agreement shall be governed and enforced under the laws of the State of Illinois, United States, in which PDUB THE PRODUCER LLC is registered.
By affixing their signatures below, the parties agree to be mutually bound by the terms of this Agreement.
PDUB THE PRODUCER, LLC