In Athens, today, and between Ioannis Kirimkiridis, son of Spyridon, born in Ioannina, Greece, on the one hand, acting as the legal representative of the company TMC Music, located at Dim. Filioy 17 Street, P.C 45332, Ioannina, Greece, with VAT Number EL 114475554, hereinafter referred to as the representative-agent, as the first contracting party, and, on the other hand, hereinafter referred to as the creator, the following agreements have been reached:
Original Creation – Description of Works:
The creator is the undisputed and legitimate owner and possessor of the music tracks and lyrics described as follows:
Scope of Contract:
The Agent has entered into an agreement with a worldwide service to facilitate the identification of claims against unauthorized individuals and/or entities using and/or exploiting content on YouTube, Facebook, and Instagram.
By this contract, the creator authorizes the Agent to fully administer, collect, and otherwise exploit one hundred percent (100%) of the worldwide right, title, and interest in and to the works on YouTube, Facebook, and Instagram, as related to the claims mentioned above.
The Agent will upload the original works to platforms with which they have agreements, in order to scan YouTube, Facebook, and Instagram, raise copyright claims on behalf of the creator, and receive revenue related to copyright claims resulting from advertising or other forms of online monetization.
Agent will also upload the original works to distributors in order to make the original works available for streaming and download to DSP’s (Digital Streaming Platforms) such as Spotify, iTunes, Deezer and more.
Agent will also handle the creator’s YouTube channel (optimize videos for better reach in YouTube search). Agent will not create any video content.
Exclusive Exploitation and Originality of Works:
Through this agreement, the creator exclusively assigns the representative the right to upload the music tracks to any platform related to YouTube, Facebook, and Instagram content ID registration and receive revenue.
The creator does not transfer any copyright or intellectual property to the agent.
The works are authentic and/or original.
The works do not infringe upon the intellectual property rights of any third party.
In the event that any third party’s intellectual property rights are infringed by the aforementioned works’ authenticity and originality, the creator assumes sole responsibility.
The creator agrees to fully indemnify any third party, as well as the first contracting party, in the event of any claim regarding the works’ authorship.
Indemnification towards the agent is immediate upon the raising of the claim and includes all positive and cumulative losses.
Table of Rewards – Rendering:
5.1. The reward is set at twenty five percent (25%) of the agent’s net income for ContentID royalties, Streaming / Download royalties and YouTube Channel income (creator keeps 75% and Agent keeps 25%).
5.2. The percentages will be rendered at the end of every semester (6-month period). If the agent has been paid from any exploitation of the works, the creator grants the right to request their reward within the next 30 business days.
Regarding Streaming / Download royalties, those are paid directly by the distributor to creator and agent (agent setups up payment splits following the 25% for agent / 75% for creator allocation agreed)
5.3. In the case of a Performance Rights Organization intervening solely for the retransmission of a performance, the payment to the represented party (i.e., the second contracting party) will be conducted by the said organization, without any liability of the agent (first contracting party) for the specific payment to the represented party (second contracting party).
6.1. In the event the contract is terminated for any reason, the termination shall not affect the effective contracts that have been concluded by the first contracting party until the moment of termination. The termination shall take effect upon the expiry of the effective contracts and after they have been settled for the specific work mentioned above, which have been concluded by the first contracting party with any third party.
6.2. The creator has the right to terminate this agreement after 3 years, upon written notice.
This agreement remains effective and may not be canceled if either the representative’s legal person or the seat is modified. It is equally effective with any company form (in Greece and abroad), regardless of whether the party acting as the first contracting party, to whom the right to act in such cases has been granted through deed polls, constitutes its owner, simple shareholder, agent, or representative.
7.1. Any modification of this agreement shall be effective only if submitted in writing.
7.2. Should any term under this agreement be judged illegal or void, the validity and effect of the remaining agreement shall not be affected.
7.3. In the event of any dispute, it shall be resolved by an arbitration committee appointed by two solicitors and one judge.