EXCLUSIVE Lease Agreement
This License agreement is made on %ORDER_DATE% (“Effective Date”) by andbetween %CLIENT_NAME% (“Licensee”) and ThisMy401k, LLC (“Licensor”). Licensor warrants that it controls the mechanical rights in and to the musical work named "%BEAT_NAME%" (“Composition”) being sold to Licensee as of and prior to the Effective Date.
The Licensee and Licensor have agreed to the following terms:
The Licensee agrees to pay da GOAJ - ThisMy401K an initial producer's fee for the use of the Instrumental being licensed in this agreement, for the purpose of creating a new recording. The ARTIST receives a 192 kbps tagless MP3 file with one (1) producer signature at the beginning ("ThisMy401k"). Upon payment confirmation, the ARTIST will be e-mailed the download link.
- 1) Master Use
- The Licensor hereby grants to Licensee a non-exclusive License to record vocal synchronization to the composition partly or in its entirety and substantially in its original form for the specific use of manufacturing, distributing and selling records embodying the composition.
- The Licensor also grants the right to use the name of the producer (Da GOAJ -ThisMy401k) in connection with the advertising, publicizing or sale of records manufactured, distributed and sold. Any rights not specifically granted and set forth in this license are hereby reserved by the producer.
- If this point of sale is reached and/or further sales are desired, further rights with a new sales cap need to be obtained with a new license or license upgrade (if the beat has not yet been sold with exclusive rights and is still available). If the beat is no longer available and offered for any form of licensing and/or marked as sold, license owners of any type of non-exclusive rights may upgrade their current license to the highest available non-exclusive license such as a professional lease, etc. If exclusive rights are no longer available, this does not affect license owners from being allowed to upgrade their non-exclusive license(s) to the highest form of non-exclusive license(s).
- Once Licensee has reached the allowed number of sales and any other limits concerning his license agreement, no more sales can be made after the sales cap is reached. Licensee expressly agrees to remove his song from any marketplaces, stores, etc. to avoid the song from being sold or monetized continuously.
- A leasing license (non-exclusive) includes a contract/invoice, stating the rights of use and details of purchase. A beat can be leased to more than one person at the same time until exclusive rights are sold to the beat. Once a beat has been sold with exclusive rights, it will no longer be available for any kind of leasing and licensing, except for upgrading previously sold non-exclusive licenses to a higher non-exclusive license. Previous leasing/non-exclusive rights that have been sold before the beat is sold exclusively are not affected and stay valid until the applicable sales cap has been reached.
- Leasing a beat does not make the licensee the sole owner of the beat, nor does it give the licensee any administrative rights to the beat concerning legal actions against other license owners or anyone using any of the compositions offered by ThisMy401K, LLC.
- 2) Ownership
- The Licensor maintains 100% full rights (copyright, publishing and ownership) of the Composition, and can continue to sell it non-exclusively and/or exclusively. The Licensee has neither the right nor authority to sell or license the rights to the Composition whether in whole or part to any other party. In the event another party purchases exclusive rights to the Composition from the Licensor, the Licensee will retain non-exclusive rights under the limitations listed in this agreement and until these terms have been fulfilled.
- You (the licensee) cannot sell, loan, rent, lease, assign, remix, re-arrange, remove any melodies, instruments, drum programming or transfer all or any of the products sold or the corresponding rights to another person or third party (example – Record Label, another production company, another producer, another artist), or for use in any competitive product. Licensee shall not have the right to alter, adapt, change or remix the compositon or music without producer's written approval, except length changes (adding additional bars to a verse, cutting/adding a verse/hook etc.).
- 3) Mechanical Rights
- Also known as non-exclusive rights, purchasing a leasing license grants the customer limited artistic, commercial and legislative rights to the corresponding beat(s) for one single profitable/commercial use (e.g. album, EP, single or mix-tape) on any physical or digital medium such as CDs, DVDs, Blu-ray Discs, LPs, Cassettes, USB-Sticks or digital sales (e.g. itunes, google-play, etc.) with a circulation of up to 5.000 sales units.
- The Licensor hereby grants to Licensee a non-exclusive License to use Master Recording in the reproduction, duplication, manufacture, and distribution of phonograph records, cassette tapes, compact disks, internet downloads, other and miscellaneous audio and digital recordings, and any lifts and versions thereof (collectively ,”Recordings”) worldwide for up to the pressing or selling a total of 5000 copies of such Recordings or any combination of such Recordings. Additionally, Licensor shall be permitted to distribute unlimited internet downloads for non-profit and non-commercial use.
- 4) Publishing and Royalties
- Should the Licensee decide to register the new recording with a Performance Rights Organizations (PRO) such as ASCAP, SESAC, or BMI, ThisMy401K must be credited with a 50/50 writer’s split (ASCAP Publisher: ThisMy401K (IPI# ) ASCAP Writer: Joseph Simmons (IPI # ).
- 5) Streaming
- The Licensee is entitled to an amount of 50000 audio streams (on all streaming platforms such as Spotify) and 50000 video streams (on all platforms supporting video such as Youtube) for the song(s)created with the composition. All streaming royalties generated by the Licensee's song(s) belong to the Licensee.
- 6) Performance Rights
- The Licensor hereby grants to Licensee a non-exclusive License to use the Master Recording in 100 paid performances and unlimited non-profit performances, shows, or concerts.
- 7) Music Videos
- The Licensor hereby grants to Licensee a non-exclusive License to use the Master Recording in unlimited music videos.
- 8) Synchronization Rights
- The Licensor hereby grants to Licensee a non-exclusive License to copy, perform, edit and/or loop portions of, record on film, video, digital animations, and video games (collectively, “Projects”) and use the Master Recording in synchronization or timed relation with the productions in one (1) Projects.
- 9) Credit
- Licensee shall give producer appropriate production and song writing credit on all compact discs, record and cassette labels or any other record configuration manufactured which is now known or created in the future that embodies the composition created hereunder and on all cover liner notes.
- Such credit shall be in substantial form:
- "Produced by ThisMy401k (Da GOAJ Shine)"
- Including but not limited to CD’s, CD covers, Cassette tapes, LP’s, Cards, Mixtape track lists, Youtube Videos, and internet sales, etc. (Example credits: ‘Produced by ThisMy401k (da GOAJ Shine)’ or ‘Music produced by ThisMy401k (ThisMy401k.com)’ … Music © 2026 All rights reserved. Used under license. Any displayed or downloadable MP3 files must include ‘Produced by ThisMy401k (Da GOAJ Shine) ’ within the file name.
- 10) Sampling
- The Licensee agrees that the Composition is purchased as a “Work Made for Hire” whereby the clearing of any sampled materials is the responsibility of Licensee.
- 11) Compensation
- Payment for this License is non-refundable under any circumstances. If the licensee fails to account to the licensor, timely and complete the payments provided for hereunder, the licensor shall have the right to terminate this license upon written notice to the licensee. Such termination shall render the recording, manufacture and/or distribution of recordings for which monies have not been paid subject to and actionable as infringements under applicable law.
- The Licensee shall provide the Producer with two (2) copies of the completed record within thirty (30) days after manufacture of any record in digital format via email to GOAJ@ThisMy401k.com.
- 12) Term
- Executed by the Licensor and the Licensee, this License agreement is to be effective as for all purposes as of the Effective Date for a period of three (3) years. In the event that an exclusive license is sold by Licensor to the Composition, the terms of this agreement shall be upheld.
- 13) Indemnification
- Licensee agrees to indemnify and hold Licensor harmless from and against any and all claims, losses, damages, costs, and expenses, including, without limitation, reasonable attorneys’ fees, arising out of or resulting from a claimed breach of any of Licensee’s representations, warranties or agreements hereunder.
- 14) Miscellaneous
- This License is non-transferable and is limited to the Composition specified, constitutes the entire agreement between the Licensor and the Licensee relating to the Composition, and shall be binding upon both Licensor and Licensee and their respective successors, assigns, and legal representatives.
- 15) Restrictions
- Youtube monetization and is not permitted with this Basic lease agreement. The licensee is not allowed to get profitable radio-, video- or television-airplay or to perform the song on commercial/profitable shows with a Basic license.
- Licensee cannot use any beat compositions as background element in TV, Film and DVD / computer game projects without obtaining written consent and a separate license agreement.
- All sounds, drums and vocals included are the property of the licensor and cannot be used for any purpose other than as described in this agreement. The audio content cannot be used to create any of the following derivative works: instrumentals for sale, loop packs, vst instruments, nor any other competitive product. The audio content cannot be shared with anyone unless they are directly involved in the Master recording (audio engineer, featured artist, musician, etc.). Any Master recording that is found in violation of these restrictions may be subject to termination of its commercial rights without refund. In addition, the Master recording may be subject to removal from all third party distributors with the assistance of copyright infringement enforcers. Any loss incurred with such removal is not the
- responsibility of Licensor. If the licensee is unsure of the details of the commercial rights, the licensee must contact the licensor for assistance in clarifying any of these restrictions.
- EXECUTION RECITALS:
- I have read and understand the terms of this agreement. I will adhere to the terms outlined within this agreement. I understand that in the event that ThisMy401K refunds my money, this contract will automatically become null and void and my usage rights will be revoked. I am also aware that any breach of this contract will result in the revocation of my usage rights. Should I lose these privileges, I understand that selling any recordings that contain any sum or portion of the Instrumental being licensed in this agreement, without written permission from ThisMy401k would constitute a violation of copyright law punishable by legal action.
- TERRITORY:
- The rights of this agreement shall be for the world.
- By receiving this contract via email, you automatically agree to the terms stated above and gain non-exclusive rights to the Instrumental.