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Royalty Agreement

Category: 270 Legal Recent Posts, Entertainment Agreements, Royalty


ROYALTY AGREEMENT

AGREEMENT made this 1st. day of August, 2007 by and between Raven Moon Entertainment, Inc. (“Raven Moon”), with principle offices at 2005 Tree Fork Lane, Suite 101, Longwood, FL 32750 and Gina D Inc., (“GDI”), with principle offices at 1423 Foxtail Court, Lake Mary, FL 32746.

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CONSIDERATION: In consideration of GDI’s assumption without recourse of Three Million Two Hundred Thousand Dollars ($3,200,000) debt owed MG Studios by Raven Moon and services rendered by GDI in forty four (44) half hour episodes of the Programs and any future episodes of the Programs, Raven Moon shall pay to GDI a Ten Percent (10%) royalty payment of all future GROSS revenues derived from Raven Moon’s exploitation of the Programs including, but not limited to, any and all Programs related product sales, licensing fees, derivative products, movies and characters derived from the Programs, Programs DVD’s, Music CDs, royalties paid Raven Moon for its exploitation of the Programs, music and derivatives, toys games, clothing, internet sales, websites, premiums not in existence or to be created in the future from the Programs throughout the world during the Term of this Agreement.
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