ROYALTY SPECIFICATION OF PRODUCER CONTRACT
This attachment to the Producer Agreement between ________________ hereinafter referred to as Company, and ___________________ hereinafter referred to as Producer dated _________, 20____, is to specify the payment of royalties to Producer by Company
1. Producer has received _______________________________ dollars ($ ) for his/her production of the ______________ (number) Master Recordings of the Company's recording artist ___________________________ titles of which are listed in the aforementioned Producer Agreement. This is deemed as a recoupable advance against any royalties earned from sales.
2. After the Company's recoupment of the above mentioned advance, the Producer will be paid royalties at the following rate:
(a) For long playing Compact Disk phonorecords and any and all other methods of mechanically reproducing the performances embodied in the Master Recordings that are produced on the Company's label, it's affiliate or subsidiary labels a payment of TWO AND TWO TENTHS CENTS (2.2) per copy thereof sold and paid for in the United States of America.
(b) For single releases which contain the Master Recordings produced by Producer a royalty of TWO AND THREE QUARTER CENTS (2.75) per side which embodies the Master Recordings produced by Producer.
(c) For any sales or license of the Master Recordings outside of the United States, a royalty of ONE HALF (1/2) of the United States royalty rate shall be payable on each copy that is sold and paid for and for which the Company has received payment in the United States. Royalty payments from such foreign sources shall be calculated at the rate of exchange at the time such foreign royalties are received by the Company in the United States.
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
statements and payments are unacceptable.
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.
Signatures below confirms all parties agreement.