ASSIGNMENT OF INTEREST AND RELEASE

 

This AGREEMENT (hereinafter referred to as the "Agreement") is made effective this _____ day of _______________, 200__ by and between ____________________, located at ________________________________________ (hereinafter referred to as the "Artist") and ____________________, located at ________________________________________ and its parents, subsidiaries, affiliates, principals, members, managers, employees, former employees, representatives, cousel and/or agents (hereinafter referred to as the "Company").

 

WITNESSETH:

 

Reference is hereby made to the Recording Contract, dated _______________, 200__, between Artist and Company.

 

The claims of all of the parties with respect to the Company have been resolved, and the parties hereby enter into this Release Agreement in full settlement and full satisfaction of all such issues. Upon execution hereof, Artist shall be released from his responsibilities as an exclusive recording artist for the Company. Accordingly, Artist and the Company agree as follows:

 

1. Upon the date hereof, Artist shall have no further obligation to perform any services of whatever nature for the Company, and the Company shall have no further obligation to compensate Artist in any form of whatever nature, except as specifically provided herein.

 

2. The Company hereby forever releases and discharges Artist from any and all claims, demands, actions, causes of action, suits, sums of money, accounts, covenants, agreements, contracts, and promises in law or in equity, which the Company now has, has had, or at any time may have, against Artist, whether or not they have been subject to dispute or otherwise and whether known or unknown to the Company, by reason or any matter, cause or thing whatsoever from the beginning of the world to the date hereof, except as otherwise provided for herein...

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