Residual-Royalty Payment Contract

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RESIDUAL/ROYALTY PAYMENT CONTRACT

Agreement ("Agreement") by and between {Name of Artist}, henceforth known as "Artist," and {Name of Company}, henceforth known as "Company," is made this {date} day of {month}, {year}.

Artist and Company hereby agree to the following provisions:

• Artist is sole owner/creator of {work for which royalties are owed}, henceforth known as the "Work."

• Artist has agreed to allow Company to {license, sell, distribute, etc. Be detailed and include everything being sold, licensed, etc.} the Work.

• Artist will deliver the Work to Company {date when work is due}.

• As a result of the Artist granting the Company these rights, Artist will receive royalty/residual payments according to the following schedule:

          {details of payment schedule, including what percentage(s) Artist will receive, how often payments will be made, in what manner payments will be made, and any other relevant information}

• Company will provide the Artist with account statements {monthly, quarterly, yearly, etc.} and will maintain accurate records of any transactions related to the Work and/or the royalties paid to the Artist.

• This Agreement shall remain in effect for {length of time}.

• Artist may terminate this Agreement if {conditions under which Artist may terminate the agreement.}.

• Similarly, Company may terminate this Agreement if {conditions under which Company may terminate the agreement.).

• This Agreement is subject to the laws and regulations of the state of {State Name}.

_____________________________                     _____________________________
Artist Printed Name                                               Company Representative Name

_____________________________                     _____________________________
Artist Signature                                                      Company Representative Signature

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