Tyric Beats Productions: Non-Exclusive Licence

Licence Agreement
(NON-EXCLUSIVE LICENCE - WAV LEASE)
Sound Recording/BEATS

THIS LICENCE AGREEMENT is made on (insert Effective Date here) by and between (insert buyer’s name) (hereinafter referred to as the “Licensee”) also, if applicable, professionally known as (insert buyer’s name) and Dr Taiwo Owoeye (hereinafter referred to as the “Licensor”), professionally known as Dr Tyric (Tyric Beats). Licensor warrants that it controls the mechanical rights in and to the copyrighted musical works entitled (insert song/beat name) (“Composition”) as of and prior to the date first written above. The Composition, including the music thereof, was composed by Dr Taiwo Owoeye (“Songwriter”) managed under the Licensor.

1. Master Use
The Licensor hereby grants to licence a Non-Exclusive Licence (this “Licence”) to record vocal synchronisation to the Composition partly or in its entirety and substantially in its original form (“Master Recording”).

2. Mechanical Rights
The Licensor hereby grants to Licensee a Non-Exclusive License to use Master Recording in the reproduction, duplication, manufacture, and distribution of phonograph records, cassette tapes, compact disk, digital downloads, other miscellaneous audio and digital recordings, and any lifts and versions thereof (collectively, the “Recordings”, and individually, a “Recordings”) worldwide for up to the pressing or selling a total of 5000 units or copies of such Recordings or any combination of such Recordings, condition upon the payment to the Licensor a sum of $29.95 US Dollars, receipt of which is confirmed.

3. Performance Rights
The Licensor hereby grants to Licensee a limited use of the Master Recording for up to ten (10) non-profit performances, shows, concerts. Licensee may not receive compensation from performances with this licence.

4. Synchronisation Rights
The Licensor hereby grants limited synchronisation rights for one (1) music video streamed online (YouTube, Vimeo etc.) for up to 80,000 cumulative streams total on all websites. Monetisation of the Music Video is NOT PERMITTED on YouTube and other services. A separate synchronisation licence will need to be purchased for distribution of video on TV, Film or Video game.

5. Broadcast Rights
The Licensor hereby grants to Licensee a non-exclusive licence to broadcast or air the Master Recording in five (5) radio stations through five (5) station channels, respectively. The Licensee shall not be permitted to receive compensation for such broadcasting.

6. Credit
Licensee shall acknowledge the original authorship of the Composition appropriately and reasonably in all media and performance formats under the name “Dr Tyric” in writing where possible and vocally otherwise.

7. Consideration
In consideration for the rights granted under this agreement, Licensee shall pay to Licensor the sum of $29.95 US Dollars and other good and valuable consideration, payable to “Dr Taiwo Owoeye”, receipt of which is hereby acknowledged. If the Licensee fails to account to the Licensor, timely complete the payments provided for hereunder, or perform its obligations hereunder, including having insufficient bank balance, the Licensor shall have the right to terminate the Licence upon written notice to the Licensee. Such termination shall render the recording, manufacture and/or distribution of Recordings for which monies have not been paid subject to and actionable infringements under applicable law, including, without limitation, the United States and the United Kingdom Copyright Act as amended.

8. Delivery
The Composition shall be delivered via email to an email address that the Licensee provided when making their payment to the Licensor. Licensee shall receive an email containing an attachment or link from which they can download the Composition. This will comprise of HQ MP3 (320kbps) and Master WAV Files.

9. Indemnification
Accordingly, Licensee agrees to indemnify and hold Licensor harmless from and against any and all claims, losses, damages, costs, expenses, including, without limitation, reasonable attorney’s fees, arising of or resulting from a claimed breach of any of Licensee’s representation, warranties or agreements hereunder.

10. Audio Samples
Third party sample clearance is the responsibility of the Licensee.

11. Miscellaneous
The licence is non-transferable and is limited to the Composition specified above, does not convey, or grant any right of public performance for profit, constitutes the entire agreement between the Licensor and the Licensee relating to the Composition, and shall be binding upon both the Licensor and the Licensee and their respective successors, assigns, legal representatives.

When the above distribution or streaming limits have been reached, Licensee’s rights of both distribution and streaming of the Composition and Master Recording under this Agreement are immediately terminated. Should the Licensee continue to distribute or stream the Master Recording after termination of the Licensee’s rights to do so under this Agreement, the Licensee expressly agrees that 100% of all copyright interests in the Composition and Master Recording are thereby irrevocably transferred from the Licensee to the Licensor at the moment the distribution or streams limits have been exceeded.

The Licensee may, at the sole discretion of the Licensor and only if the Composition has not already been exclusively licenced to another party, extend the distribution and streaming limit of the Master Recording by executing a new agreement with the Licensor.

12. Governing Law
This License is governed by and shall be construed under the law of the United Kingdom, without regard to the conflicts of laws principles thereof.

       13.  Publishing & Copyright
The ownership of the copyrights is split as follows:
  Copyright (Songwriter/Publishing): 0% to the Licensee and 100% to the Licensor
  Sound Recording Copyright: 50% to the Licensee and 50% to the Licensor

       14.     Term
Executed by the Licensor and the Licensee, to be effective as for all purposes as of the Effective Date first mentioned above and shall terminate exactly three (3) years from this date.

THE PARTIES HAVE DULY EXECUTED THIS AGREEMENT on the date first written above

Licensor:
________________________________________________ Date: __________,20__
Dr Taiwo Owoeye – Producer
Authorised Signing Officer

Licensee:
________________________________________________ Date: __________,20__
Buyer’s name – Artist
Authorised Signing Officer

Non-Exclusive Licence - WAV Lease