Band Partnership Agreement V2
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| Band Name
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| Email
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| Phone Number
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| Band Members Full Names
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| Domain
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| Upload a LOGO file (jpeg, png, etc)
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| Band Name, Logo and Domain are:
| the exclusive property of the band and not owned by any individual member. the exclusive property of the band unless certain member(s) leave the band. not assets of the Band but the sole and exclusive property of certain member(s). You will be contacted to clarify this section.
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| Profits and Losses (except publishing revenue)
| will be shared equally. on a different proportional basis to be defined. Hiring people isn’t usually an option for new artists as there won’t be money to pay salaries. Therefore everyone will be working for a percentage of future earnings. There are no rules on how this income shall be divided and it’s all down to bargaining between the members. If a member works harder and in general contributes more than the others it may be fair that he/she earns an overall higher percentage of the income.
Band members are advised to consult with each other, agree and keep records of the band expenses as these will be taken out from gross receipts before profits are accounted to each member.
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| The Recording Income is divided:
| in accordance with the provision in a record contract signed with a record label in equal shares between performing members. Select fist option iif band is signed and the recording agreement specifies how the recording income is divided.
Because each and every member of the band performs in the songs recordings it makes sense to split equally income from record sales.
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| Names of Recordings performed by CURRENT BAND MEMBERS with respective names of performing members:
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| Names of Recordings performed by PREVIOUS BAND MEMBERS with respective names of performing members:
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| Names of Compositions with respective name of writer(s) and percentages of ownership:
| For co-written songs add the percentage of ownership when listing the compositions in the list below Publishing money is divided according to the percentages set out below.
If there is just one writer, write the name of the writer and 100% as proportion.
Compositions shall be registered with the relevant collecting society (PRS in the UK; Ascap/BMI in the US; GEMMA in Germany, etc) with the same proportional interests as set here.
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| Voting and Meetings:
| Each Band Partner has the right to participate in the business of the Band Partnership. Only certain member(s) will run the business of the Band Partnership. Voting is important when hiring and firing members, entering into other agreements, capping expenses, amending the partnership agreement, etc.
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Select items for which a decision ought to be reached by unanimous vote.
Unchecked items decisions will be reached by majority vote.
| Expelling a Band Partner. Admission of a new Band Partner. Entering into any agreement that binds the Band Partnership for more than a year. Additional capital contributions by any Band Partner. Receipt of any bonus or goods or other assets of the Band Partnership. Any expenditure in excess of £50 Incurring any major obligation such as borrowing or lending money. Selling, leasing, or transferring any Band Partnership property. Entering into any contract that takes less than a year to complete Amendment of this Agreement. Dissolving the Band Partnership. Check-signing rights. Complete this section if more than one (1) member participates in decision making.
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| In matters that require a majority vote:
| certain member will be entitled to extra voting power of +1 In the event that a majority cannot be achieved, the decision of certain member will prevail. With varying percentages of earnings it may also make sense to have one or two key members controlling the vote or whose votes are worthier that those of other members.
It is important to avoid having an even number of votes to prevent an equally divided vote where nothing can be done.
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| Termination. The Band will terminate:
| Only if the Band members agree in writing to end the Partnership. If certain member(s) leave the Band. With the first option the Band Partnership will continue even after the key/founding Members or the majority of the members leave the band.
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