Please generate a contract between a producer and artist in the state of New York where we split 50 percent on all royalties in perpetuity
Sure! Here is a draft contract for you:
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CONTRACT FOR ROYALTY SPLIT BETWEEN PRODUCER AND ARTIST
This contract ("Agreement") is made and entered into on the date of acceptance by the Artist and by the Producer.
1. Parties: This Agreement is made between the Artist, \[Artist name\], with a mailing address of \[Artist address\], and the Producer, \[Producer name\], with a mailing address of \[Producer address\].
2. Purpose: The purpose of this Agreement is to set forth the terms and conditions under which the Artist and the Producer will share in the royalties derived from the exploitation of one or more musical compositions (the "Compositions") written or co-written by the Artist and produced by the Producer.
3. Term: This Agreement shall commence on the date of acceptance and shall continue in perpetuity.
4. Royalties: The Artist and the Producer shall share equally in all royalties derived from the exploitation of the Compositions, with each party receiving fifty percent (50%) of the royalties.
5. Payment: The Artist and the Producer shall be paid their respective shares of the royalties as follows: \[insert payment terms\].
6. Termination: This Agreement may be terminated by either party upon thirty (30) days written notice to the other party if the other party breaches any material term or condition of this Agreement.
7. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of New York.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
\[Artist name\] \[Producer name\]