Artist Agreement Term Sheet between VNUE, Inc. and Artist for 2020 Tour Live Recordings and Sales
This agreement is between VNUE, Inc. and an artist (or their representative) for the 2020 tour. VNUE will record and produce live concert recordings, offering limited edition products for sale at venues and online. VNUE provides all equipment and staff, and pays the artist an advance against a percentage of net sales. The agreement details product types, sales channels, payment terms, and accounting procedures. The artist can terminate the agreement if VNUE breaches its obligations and fails to cure within five business days of notice.
EXHIBIT 10.12
[ ] 2020 TOUR – W – VNUE
TERM SHEET
WHAT
VNUE, Inc, will record and produce live recording for each of the tour dates on the [ ] Tour, and will offer limited edition products for sale on-site at the venue and worldwide via our websites, subject to the approval of the recording in all respects by [ ]. VNUE will provide all equipment and personnel to execute.
PRODUCT CONFIGURATION
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| · | Double CD sets via DiscLive, retail price $[ ] |
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| · | Download cards, retail price $[ ] |
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| · | Digital downloads via set.fm, retail price $[ ] |
ADDITIONAL SALES CHANNELS
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| · | Double CD set to be offered via [ ] as an “Add-on” at checkout. Retail price to customer, $[ ] – net to VNUE/[ ] @ $[ ]. |
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| · | Download Card via [ ] packages, net to VNUE/[ ] @ $[ ] |
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| · | All monies paid directly to VNUE, unless otherwise agreed. |
FINANCIAL CONSIDERATION
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| · | $[ ] K USD Advance to [ ] against [ ] % of Net Sales of all VNUE products, provided VNUE is included in initial and subsequent announcements and all reasonable marketing. |
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| O | [ ] % to [ ], Inc., and [ ] % to [ ] |
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| O | $[ ] K due no later than Jan 10th, 2020 |
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| O | $[ ] due no later than March 1st, 2020 |
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| · | “Net Sales” mean the aggregate sum of all actual, out-of-pocket third party expenses paid by VNUE as mutually pre-approved by the parties in connection with the VNUE Concert Masters, the Concert Albums and the exploitation of the same including without limitation: (a) all sums payable or costs incurred by VNUE with respect to the Concert venues; (b) the recording and production of the Concert Masters; (c) the Concert Albums, the artwork, and other materials including, but not limited to in-venue posters or handbill fliers); (d) all shipping and storage costs; (f) all credit card or mobile provider service fees; (g) all taxes; (h) all payments to music publishers, venues, and unions and/or union members; (i) all VNUE marketing, promotion, publicity and merchandising materials and expenses, including but not limited to online media, advertising materials, and in-venue materials; and (j) all transportation, accommodation and meal expenses for designated VNUE personnel assigned to the tour by VNUE. Accounting updates will be provided in writing by VNUE to [ ] every 30 days during the tour, and a final full accounting of each territory’s tour leg will be delivered within 15 business days of the final tour date of that leg. Accounting will be subject to audit by [ ]. [ ] may terminate this agreement for breach by VNUE of its obligations hereunder if such breach is not cured within (5) business days after written notice to VNUE. |
Understood and Agreed:
| VNUE, Inc. |
| Artist’s Rep (or Artist) |
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| By: | /s/ Zach Blair | By: | /s/ | ||
| Name: | Zach Bair | Name: | |||
| Title: | CEO | Title: | |||
| Date: | Jan 9th, 2020 |
| Date: |
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