COLLABORATION AGREEMENT
This COLLABORATION AGREEMENT (‘’this Agreement’’) is entered into between [NAME]
of address ADDRESS and [NAME] of address ADDRESS, jointly
referred to as “parties,” on [DATE] (Effective date).
NOW, THEREFORE, in consideration of the premises, and of the mutual promises and
undertakings herein contained, the parties, intending to be legally bound, do agree as follows:
- Definitions
For the purposes of this agreement,
“Nifties” shall mean non-fungible tokens.
“Primary Market” shall mean the Nifty Gateway marketplace that allows Nifty Creators
to sell Nifties to customers.
“Secondary Market” shall mean the Nifty Gateway marketplace that allows customers to
re-sell Nifties they previously purchased. - The Agreement
2.1 This agreement is entered into for the purpose of selling Nifties.
2.2 The parties agree that they shall split the sales of the Nifties on a 50/50 basis.
2.3 Prior to the 50/50 split of the sales by the parties, the parties agree that 20% owed to
Nifty Gateway Platform shall be given and each party shall pay their respective
agents according to the terms of this agreement.
2.4 This section shall be read together with section 4 on “Fees and Proceeds.” - Intellectual Property
The Parties acknowledge and agree that Knight and Kaskade will co- hold all intellectual
property rights in any work product resulting from this agreement including, but not
limited to, copyright and trademark rights. The digital rights to the intellectual property
are hereby co-owned by Knight and Kaskade. The materials cannot be used for Digital
marketing, prints, concert visuals or personal promotion outside of the auction hosted on
Nifty Gateway.
If any party wants to use the material for these purposes, there will need to be a separate
licensing and/or buyout agreement negotiated between the two parties.
The parties agree not to claim any such ownership in such work product’s intellectual
property at any time prior to or after the completion and delivery of such work product.
- Fees and Proceeds
The following fees and proceeds breakdown will apply to Nifty Gateway transactions:
Primary Market: Nifty Creator will receive eighty percent (80%) of all proceeds
from the sale of Nifty Creator’s Nifties in the Primary Market. Nifty Gateway will
receive twenty percent (20%) of all proceeds from the sale of Nifty Creator’s
Nifties in the Primary Market. Additionally, Nifty Gateway will deduct
transaction fees from Nifty Creator’s proceeds to cover the cost of payment
processing.
Secondary Market: Each creator will receive 2.5% percent (5% total) of all
proceeds from all sales of Nifty Creator’s Nifties in the Secondary Market. Nifty
Gateway will receive five (5%) of all proceeds from all sales of Nifty Creator’s
Nifties in the Secondary Market. Additionally, Nifty Gateway will deduct
transaction fees from the seller of Nifty Creator’s Nifties in the Secondary market.
The secondary market fees will be paid to Kaskade on a quarterly basis through
wire, Zelle, PayPal or check. - Term
This Agreement shall be operative from the date of execution of this Agreement (the
effective date) and shall run until the completion of the Services or until the Agreement is
terminated according to this Agreement.
- Confidentiality
Neither Party will use, copy, adapt, alter or part with possession of any information of the
other which is disclosed or otherwise comes into its possession under or in relation to this
Agreement and which is of a confidential nature. This obligation will not apply to
information which the recipient can prove was in its possession at the date it was received
or obtained or which the recipient obtains from some other person with good legal title to
it or which is in or comes into the public domain otherwise than through the default or
negligence of the recipient or which is independently developed by or for the recipient. - Relationship
The Parties acknowledge and agree that the services performed by the parties shall be as
independent contractors and that nothing in this Agreement shall be deemed to constitute
a partnership, joint venture, agency relationship or otherwise between the parties. - Termination
Either Party to this Agreement may terminate this Agreement upon a written notice of
termination to the other Party. Unless otherwise mutually agreed to in writing, upon the
termination of this Agreement, any arrangement for services then in effect will
immediately terminate. - Entirety
This contract represents the entire agreement between the parties and supersedes any
previous written or oral agreement. This agreement may be modified at any time,
provided there is written consent of both parties to this contract.
- Severability
The parties agree that if any portion of this contract is found to be void or unenforceable,
it shall be struck from the record and the remaining provisions will retain their full force
and effect. - Jurisdiction
This contract shall be governed, interpreted, and construed in accordance with the laws of
[STATE, PROVINCE OR TERRITORY].
In Witness Whereof, this Agreement is duly executed by the duly authorized
representatives of the parties as set forth below:
Musician’s Signature Date
Artist’s Signature Date
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