Prepare a Royalty Sharing Agreement for Musical Composition with this easy-to-use template for the USA or Canada.
- The agreement is between two parties who both have rights to the music, such as the composer and the publisher.
- The parties are entitled to be reimbursed for expenses incurred with respect to the composition.
- The music publisher will hold the copyright and will pay the other party the royalties due, less the publisher's costs and expenses.
- Both parties will be named in cover notes ⁄ credits, and any performance rights fees due with respect to the composition will be split between the parties.
This Royalty Sharing Agreement for Musical Composition form is available as a fully editable MS Word document template, and can be used either in the United States or Canada.
ROYALTY SHARING AGREEMENT THIS AGREEMENT made effective as of the _____ day of ______________, _______. BETWEEN: [NAME OF PUBLISHER] (the “Publisher”) - and - [NAME OF ASSIGNEE] (the “Assignee”) WHEREAS each of the parties is the holder of certain rights with respect to the musical composition now entitled “[insert name of composition]” (the “Composition”), written by [insert name of author, whether assignee or otherwise]. THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties hereby agree as follows: 1. Publisher shall deduct from gross publishing receipts (being monies actually received by Publisher), the following expenses to the extent that such expenses were actually paid or incurred by Publisher: songwriter’s royalties and advances, registration fees, demonstration tapes, lead sheets, arrangements and all other miscellaneous fees and expenses incurred in connection with the Composition. Publisher shall pay to Assignee fifty percent (50%) of the net publishing receipts (gross receipts less the above deductions). 2. Extraordinary expenses, such as advertising, publicity and promotional expenses, shall not be incurred by either party without the written approval of the other party. Any party incurring such expenses without such written approval shall be solely responsible for the
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