Royalty Agreement
Synchronization License Agreement
THIS AGREEMENT ("Agreement") is made and entered into as of this 1st day of July 2050, by and between Sarah Dale ("Licensor"), with her principal place of business at 543 Peaceful Pines, Suite 66, Serenity Springs, OH 01234, and Alex Beate ("Licensee"), with his principal place of business at 404 Maple Avenue, #345, Rivertown, GA 30308.
1. Grant of Rights
The Licensor hereby grants to the Licensee, a non-exclusive, non-transferable right and license, within the term and the territory defined herein, to synchronize the musical work, ”Magic Melody” (the ”Composition”), solely in connection with the commercial production titled HarmonyHub (the “Production”).
2. Term and Territory
The term of this Agreement shall be for 6 months, commencing on the 15th of July and expiring on the 15th of October 2050. The Territory covered by this Agreement shall be Ohio.
3. Consideration
In consideration for the rights granted herein, the Licensee agrees to pay to the Licensor a synchronization fee in the amount of $10, 000 due and payable on July 20, 2050.
4. Credit
Licensee agrees to give credit to the Licensor on all commercial copies of the Production as follows: "Song title: 'Magic Melody', Used by permission of Sarah Dale."
5. Warranties and Indemnification
Licensor represents and warrants that she controls the Composition and has the right to grant all rights granted herein, and that the use of the Composition, as authorized under this Agreement, will not infringe upon any copyright, right of privacy, or any other rights of any kind of any third party.
6. Termination
This Agreement may be terminated by either party upon 30 days' notice, with or without reason. Upon termination, all rights granted to the Licensee hereunder shall immediately revert to the Licensor.
7. Miscellaneous Provisions
This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, and assigns. This Agreement constitutes the entire understanding of the parties and supersedes all prior discussions, negotiations, agreements, and understandings, whether oral or written, between the parties with respect to the subject matter hereof.
8. Governing Law and Venue
This Agreement shall be governed by and construed under the laws of the jurisdiction of Ohio. Any dispute arising under, out of, in connection with, or in relation to this Agreement shall be resolved in the venue of Serenity Springs.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first above written.
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Sarah Dale ("Licensor")
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Alex Beate ("Licensee")
