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 "Licensor") and ____________________, located at ________________________________________ (hereinafter referred to as the "Licensee").
WITNESSETH:
In consideration of the respective covenants contained herein, the parties hereto, intending to legally bound hereby, agree as follows:
1. (a) The Licensor hereby grants to the Licensee the non-exclusive right and license to use the Licensor's master recordings set forth in Schedule A attached hereto and made a part hereof (hereinafter referred to as the "Masters") for the purpose of the manufacture, distribution, license and sale of records in all configurations of the title specified in Schedule A hereto (the "Record(s)") for sale throughout the territory specified in Schedule A hereto (the "Territory") during the period specified in Schedule A hereto (the "Term").
(b) Upon the expiration or termination of Term of this Agreement, Licensee shall have an additional six (6) month period in which to sell the existing stock of Records through any distribution outlets.
(c) During the Term and the sell-off period, the Licensee shall have the right to use and publish the name, approved likeness of, and biographical material concerning all of the performers who recorded the Masters free of charge for advertising and trade purposes in connection with the sale and exploitation of Records embodying the Masters.
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