Our Strategic Alliances
Partnership Agreement
Introduction
This Partnership Agreement ("Agreement") is entered into on this 21 day of April, 2023, between the following parties:
Party A:
AMG Record LLC, also known as AMG Records or African Music Group M.N.G, a record label with its principal place of business headquaters in Dallas, Texas.
Party B:
All Business Entities, a music industry professional with expertise in Music services, having their principal place of business headquaters.
Collectively referred to as "Parties" and individually as "Party."
1. Purpose:
The purpose of this Agreement is to establish a partnership between Party A and Party B for the joint collaboration, promotion, and development of musical projects and endeavors within the African music industry.
2. Term:
The term of this partnership shall commence on the effective date of this Agreement and shall continue for an initial period of 5 years, unless terminated earlier as provided herein. Upon the expiration of the initial term, the Agreement may be renewed by mutual consent of the Parties.
3. Roles and Responsibilities:
a. Party A (AMG Records):
i. Party A shall provide its expertise in artist management, music production, marketing, and distribution within the African music industry.
ii. Party A shall use its industry connections and resources to promote and support the projects undertaken by the partnership.
iii. Party A shall allocate financial resources as agreed upon to facilitate the successful execution of the partnership's projects.
b. Party B (All Business Entities):
i. Party B shall bring their expertise in Entertainment to contribute to the creative development and execution of musical projects.
ii. Party B shall collaborate with Party A to identify and nurture emerging talent within the African music industry.
iii. Party B shall actively participate in promotional activities, networking events, and industry engagements on behalf of the partnership.
4. Financial Arrangements:
a. Profit Sharing:
i. The Parties shall share profits generated from joint projects on a Personal basis as mutually agreed upon in separate agreements for each project.
ii. All expenses incurred by each Party in relation to the joint projects shall be discussed and agreed upon before their implementation.
b. Financial Records:
i. Both Parties shall maintain accurate financial records pertaining to the joint projects.
ii. Financial statements shall be provided to the other Party upon request and in a timely manner.
5. Intellectual Property:
a. Ownership:
i. Each Party shall retain ownership of their respective pre-existing intellectual property, including but not limited to music compositions, lyrics, recordings, and trademarks.
ii. Any new intellectual property created jointly during the partnership shall be co-owned by both Parties, with the rights and responsibilities determined by separate agreements for each project.
b. Royalties:
i. Royalties earned from the exploitation of jointly created intellectual property shall be shared between the Parties as agreed upon in separate agreements for each project.
6. Termination:
a. Termination for Convenience: Either Party may terminate this partnership agreement with prior written notice of 60 days to the other Party.
b. Termination for Cause: i. Either Party may terminate this partnership agreement for cause upon written notice if the other Party breaches any material provision of this Agreement and fails to cure such breach within [number] days of receiving written notice specifying the breach.
7. Confidentiality:
Both Parties agree to maintain strict confidentiality regarding any proprietary or sensitive information shared during the course of this partnership.
8. Governing Law:
This Agreement shall be governed by and construed in accordance with the laws of United States.
9. Entire Agreement | 10. Amendments | 11. Severability | 12. Counterparts
IN WITNESS WHEREOF, the Parties have executed this Partnership Agreement as of the date first above written.
Non-Disclosure
This Agreement is entered into on this 21 day of April, 2023, between AMG Records ("Disclosing Party"), and All Business Entities ("Recipient").
Confidential Information:
a. "Confidential Information" refers to any and all proprietary, sensitive, or confidential information disclosed, including but not limited to:
- ▹ Business plans & strategies
- ▹ Artist contracts & agreements
- ▹ Marketing & promotional materials
- ▹ Intellectual property & recordings
Non-Disclosure Obligations:
a. The Recipient agrees to keep all Confidential Information strictly confidential...
b. The Recipient shall only disclose to employees with a legitimate need to know...
c. Solely for the purpose of fulfilling obligations under this Agreement.
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