LABEL DISTRIBUTION CONTRACT (P&D)

 

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 "Label") and ____________________, located at ________________________________________ (hereinafter referred to as the "Distributor") with respect to exclusive manufacturing and distribution worldwide („Territory¾) of all the records in all configurations now known or hereafter devised owned and exploited by Label and/or any successor or affiliated companies of Label.

 

WITNESSETH:

 

In consideration of the respective covenants contained herein, the parties hereto, intending to legally bound hereby, agree as follows:

 

1. Period. The initial term of the agreement (the „Term¾) shall commerce on the date of the first Master¼s release hereunder and continue for a period of Five (5) years. Notwithstanding the above however, each new Master released during the contract Term shall be retained by Distributor as an exclusive title for no less than two (2) months from the date of release of the applicable Master by Distributor. Thereafter, Distributor shall have a non-exclusive sell-off period of six (6) months. In lieu of the sell-off period, Label shall have the option to buy back all current stock at Distributor's cost, plus a 15% mark-up, by giving notice to Distributor at least sixty days prior to end of term.

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