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Termination Provisions... *Understanding Music Contracts* - YouTube
Channel: Miss Krystle
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So, you just got a new contract
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And, maybe it鈥檚 for your new record deal
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You鈥檙e collaborating with someone new
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And, when it comes to music contracts
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There鈥檚 a few things that鈥檚 really important
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That you guys understand
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So, in this video
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We鈥檙e going to talk
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All about
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Termination Provisions
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Hi guys
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I鈥檓 Miss Krystle
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I鈥檓 an entertainment attorney
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And public speaker
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I鈥檓 the owner of Dukes Up records
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And, most importantly
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I鈥檓 an independent musician
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We release videos
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Just like this
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Once a week
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To help you with your music careers
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And, we discuss things like
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Copyrights, trademarks, music marketing
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And everything in between
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So, let鈥檚 get into the video
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First and foremost when you have your contract in front of you
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We usually want to look at the term
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In order to determine termination
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Okay, so, if we鈥檙e talking about
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Termination Provisions
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Basically we are talking about the way
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That you get out of the contract
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But, in order to know how to get out of the contract
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You have to know
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How long it goes for
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So, we usually will look at a section called
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Term
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So, it will be your term provision
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And so, let鈥檚 say that this is a managing contract
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And, it鈥檚 for one year
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So, we know the contract if for
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One year
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Then the second step is that
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You鈥檙e going to look to see if there is
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Anything called a renewal
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If there鈥檚 a renewal in the contract
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That means that it can be extended
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And, sometimes there will be language such as
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It will automatically renew if someone doesn鈥檛 terminate
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So, this is where you and making sure you calendar
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Becomes really important
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So you make a note on your calendar
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If you need to send notice of termination
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And then three
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Look at the actually provision that says
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Termination
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So, when we鈥檙e looking at the provision
that says termination
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There is usually two different ways
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That a contract can end
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Or a way that you can get out of it
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The first way that you can get out of the contract
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Is usually by Natural Expiration
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Natural Expiration means
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You looked at how long it was
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And so, in our management contract example
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It was only one year
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So now, after one year
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If there is no additional renewals
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Or anything else that happens
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It just naturally expires
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And that鈥檚 how you get out of the contract
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Another way is early termination
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This is something that you specifically need to
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Make sure is in the contract
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And so, let鈥檚 say someone does something
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They don鈥檛 fulfill their obligations
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And so it gives the other party
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Meaning you
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The right to give written notice via an e-mail
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Or something like that
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Just to say
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I no longer want to continue with this contract
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You鈥檙e in breech
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And so that is the early termination
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And, the reason why that becomes so important is that, you know
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Especially with new collaborators that we work with
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Sometimes you don鈥檛 really know
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How the relationship is going to be
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Until you鈥檙e knee deep in it
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And, sometimes things go really well
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And, sometimes they don鈥檛
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So, if things aren鈥檛 going well
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And you have no way of getting out of this contract
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You鈥檙e kind of stuck
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We don鈥檛 want you to be stuck
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So the way you do your due diligence is that
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At the beginning of the relationship
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Before you sign the contract
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You look at that termination provision
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You determine how long it鈥檚 gonna go for
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And then you determine
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How do I get out of the contract
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Now, my recommendation is that
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Remember that contracts are always negotiable
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So even if you鈥檙e looking at the contract
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Sometimes there won鈥檛 even be a termination provision
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In the contract
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At which point you have to respond
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You have to say
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There needs to be a standard termination provision
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And then you and the other party
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Can discuss what that looks like
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Is it only natural expiration of the contract?
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Or, is it that you are going to negotiate
ways
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That you can get out of the contract early
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If things start going a little sideways
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Now, the reason why I kept this pretty general as far as
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I鈥檓 not talking about any specific music
contract
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Because
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Termination provisions should be in almost every single
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Contract that you guys sign throughout your careers
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And so, if it just so happens
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That you get a contract from someone
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And you鈥檙e looking at it
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And you can鈥檛 seem to find a termination
provision
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That鈥檚 when you respond and you say, there needs to be
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A standard termination provision
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And so both parties understand
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How do you get out of the relationship
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If for any reason someone needs to terminate early
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I think it鈥檚 great
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And it鈥檚 so important that you guys take
the time
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To understand these contracts yourselves
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Especially the standard provisions
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That you should be seeing in all contacts
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That you guys sign
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And of course
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Take your contracts to entertainment attorneys
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Have them reviewed
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And so everything is just iron clad
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And you are protected
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Make sure you guys come say hi on social media
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I go live every week on Facebook
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And of course
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Come say hi on Instagram too
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It鈥檚 been amazing meeting you guys
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And just, learning about your music careers
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Where you are at
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And of course
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How I can help
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If you haven鈥檛 already
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Make sure you subscribe
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And hit that bell notification
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So you don鈥檛 miss any of our weekly videos
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I鈥檓 gonna get out of here
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I鈥檓 Miss Krystle
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And I鈥檒l see you on the next one
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Bye guys
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