DISCLAIMER: This document explains your license agreement and information that you will need to review and understand before making any legal actions with your new beat(s).

MASTER TRACK RIGHTS AGREEMENT:

This agreement is made by and between Rakeem B. Coleman El (M.O.B.; “Tha Mark of Buddha”), the Producer and the Licensee, _________________, for the non-exclusive, non-transferable right to use the musical composition known as (the “Composition”) for all commercial recording, performing, broadcasting and distribution purposes (“Leasing Rights”). The producer tag, “It’s Tha Mark of Buddha!” shall remain within any part of the Composition during and after any recording(s) or distribution(s) have been made by the Licensee. The Producer retains all compositional and mechanical rights to the Composition and any unauthorized use, theft, distribution, reproduction of the Composition, or removal of the producer tag will result in expedient litigation for abuse and damages upon discovery. This agreement does not include tracked out stems of the Composition, only a downloadable high-resolution MP3 file.

RIGHTS GRANTED: This license permits the non-exclusive use of the Composition or any portion thereof in particular recordings made in connection with the Composition, including the non-exclusive right to perform, broadcast and distribute any derivative thereof. This license is non-assignable and any attempt to reproduce, share or re-sell the Composition itself is strictly prohibited. The licensee is entitled to lifetime rights of the Composition as long as the funds made to purchase it are cleared. Therefore, if the funds are not cleared or not transferred then the licensee does not own the rights, the rights are then handed back to Rakeem B. Coleman El (M.O.B.), the producer and composer. Furthermore, if the licensee does not intend to use the Composition exclusively for any musical work or project, such as a song or published release, within a two-year span from the date of purchase, the rights are then terminated and Rakeem B. Coleman El (M.O.B.) can re-upload, resale, and distribute the Composition to any other artist(s) exclusively.

PAYMENT: The Premium License is granted for and in consideration of the sum of $77.00 and other valuable consideration, receipt of which is hereby acknowledged. The fee (in any portion) is non-refundable and non-recoupable.

WARRANTIES: Unless otherwise agreed in writing, Rakeem B. Coleman El (M.O.B.) offers the Composition as-is and makes no representations or warranties of any kind concerning the work, including, without limitation, warranties of title, merchantability, fitness for a particular purpose, non-infringement, sample clearance, or the absence of latent or other defects, accuracy, or the presence or absence of errors, whether or not discoverable.

OWNERSHIP & REGISTRATIONS: Other than as explicitly set forth herein, Licensor shall continue to own all right, title, and interest in and to the master recording and composition of the Composition(s), and nothing herein shall constitute an assignment of any such rights. Subject to the terms of this Agreement, the Composition(s) of the Derivative Work, as well as any sound recordings of the Derivative Work created by Purchaser, shall be owned by Purchaser. Licensor does not intend to grant any rights in or to any other derivative works of the Composition(s) that may have been created by third parties. For the avoidance of doubt, because Purchaser must make a Meaningful Additions in order for a Derivative Work to be created, any other manipulation of the Composition(s), or minor additions, shall not constitute the creation of a Derivative Work, and therefore any such creative material produced that does not constitute a Meaningful Addition shall be owned by Licensor.

1. Economic Interest in Publishing Royalties. Notwithstanding the foregoing, if and when Purchaser registers the Derivative Work with a performance rights organization (each a “PRO”), Purchaser shall include Licensor as a co-writer of the Derivative Work (or equivalent designation with the applicable PRO as necessary to document with the PRO that Licensor shall be entitled to 70% of all amounts payable by the PRO to anyone, including Licensor, or any other writers or publishers designated when registering with a PRO, with respect to the Derivative Work).
2. Rights Apart from Derivative Work. Following any termination of this License: (a) Purchaser shall continue to own the Derivative Work. However, Purchaser shall not be able to enjoy any rights in the Derivative Work to the extent it continues to incorporate the Composition(s), as the Purchaser’s Agreement to use the Composition(s) shall have terminated. (b) Purchaser shall be able to continue using (and owning) all materials created by the Purchaser (including any additional original music or lyrics composed by Purchaser) that had been layered over the Composition(s), and under no circumstances shall such layered materials be deemed owned by Licensor. (c) Licensor shall be free from any restrictions regarding their own enjoyment or ability to license or resell the Composition(s).

ROYALTIES: Royalties for the sale, distribution, broadcast and performance of any derivative of the Composition shall be allocated as follows:

Sales: 35% of gross sales to Rakeem B. Coleman El (M.O.B.)

Writing Shares: 

70% – Producer – THA MARK OF BUDDHA (IPI #: 827162145)

30% – Licensee –

Publisher Shares:

70% – Producer – THA MARK OF BUDDHA (IPI #: 827162145)

30% – Licensee –

Credit: All distributed works must show the following music credit:

Produced by M.O.B. or Produced by THA M.O.B. or Produced by Tha Mark of Buddha

LIMITATION ON LIABILITY: Except to the extent required by applicable law, in no event will Rakeem B. Coleman El (M.O.B.) be liable to Licensee on any legal theory for any damages arising out of this license or the use of the Composition, even if Rakeem B. Coleman El (M.O.B.) has been advised of the possibility of such damages.

INDEMNIFICATION: Purchaser will indemnify, defend, and hold harmless Licensor and their respective officers, directors, members, managers, employees, and agents from and against any Losses based on or arising from any allegation that the Derivative Work infringes upon the intellectual property rights or other proprietary rights of any third party.

COVENANTS: Purchaser agrees not to grant any sync licenses for the Composition(s) in its unaltered state. Purchaser shall only be allowed to grant sync licenses for derivative works of the Composition(s), and only if such derivative works include the addition of a vocal melody and lyrics (“Meaningful Additions”) to the audio of the Composition(s). Notwithstanding the foregoing, Purchaser shall be allowed to sync the Composition(s) in connection with one (1) audio-visual production, where such audio-visual production’s primary purpose is to promote the Composition(s) and/or Purchaser, but not for any other commercial purposes. Should Purchaser assign any of the Rights to any third party, such third party must accept the ongoing covenants of this Provision as well.

TERMINATION AND REVERSION: This Agreement and the Rights granted hereunder will terminate automatically upon any breach by Purchaser (a “Reversion”) of the terms of this Agreement.