Embed MITRO LUXURY ABSTRACT EXPRESSIONISM ART: Royalty Agreement

Royalty Agreement

                                                                      Mitro Art Gallery
                                                                 Daytona Beach, Florida
                                                                       386-589-2448

                                                        Sales Contract, Royalty and Copyright

This is a contract between Artist and Art Buyer, a legal document stating reserved rights of the artist upon sale of art.

1. While purchaser retains total physical property of purchased artwork, artist Katheleen Elizabeth Mitro reserves all copyrights to aforesaid and after mentioned art.
In the event of her death these copyrights will remain the property of her son Alexander William Mitro, until his death when the copyrights will pass into public domain.

2. In appreciation of the value of these arts appreciating greatly, a 7% royalty must be paid to artist
Katheleen Mitro on each subsequent sale of the artwork that results in an increase of sale price,
regardless of how many times painting changes hands.

Each subsequent buyer of each art piece is also bound by this royalty agreement.

The 7% royalty will only be paid on the increase in sales price received and not the base price of the painting.

In the event of Katheleen Mitro's death these royalties will be paid to her son Alexander Mitro, and upon his death, all royalties will cease.

As the initial sales agreement on the first sale of each painting, these terms will follow through the lifetime of the artist Katheleen Mitro and her son Alexander Mitro regardless of how often the painting is sold and changes hands.
This sales agreement is in effect for all subsequent buyers of each art piece and it's conditions are unbreakable.