Payout Distribution Process Terms

Effective date: October 6th, 2020

These Payout Distribution Process Terms (“Payout Distribution Process Terms”) are incorporated into our Terms of Use by reference and apply to the use of our Services.  Terms not defined in these Payout Distribution Process Terms have the meanings given to them in the Terms of Use or the Offer Glossary.  In the case of any conflict between these Payout Distribution Process Terms and the Terms of Use, the terms of these Payout Distribution Process Terms will prevail.  Indify may update these Payout Distribution Process Terms at any time in Indify’s sole discretion; if we do, we will place a notice on our site located at https://www.indify.io, send you an email, and/or notify you by some other means.  You agree that all updates will apply to any Offers entered into after the effective date of such updates.

How will amounts we receive with respect to Offers be paid out on the Indify platform?

Unless otherwise expressly agreed in the terms of an Offer or with respect to a particular Asset that is included in an Offer, during the Term of an Offer, cash received by Indify related to that Asset will be distributed as follows (subject to any deductions submitted by the Partner or Team Member and agreed upon by the Artist):

• First, to the Partner and Artist in proportion to the Splits designated by the Partner in the Offer before recoupment until the Partner has recouped 100% of its Advance; however, please note that the Partner has the right to designate its Split before recoupment in its discretion for any percentage between (and including) 0% and 100%.  The cash apportioned to the Artist’s Split before recoupment will be shared among the Artist and Team Members (if applicable) in accordance with the terms of the Offer and the Team Members’ respective Splits before recoupment.
• Second, to the Partner and Artist in proportion to the Splits designated by the Partner in the Offer after recoupment.  As payment for rendering the Services, Indify will receive 15% of the cash apportioned to the Partner’s Split after recoupment.  The cash apportioned to Artist’s Split after recoupment will be shared among the Artist and Team Members (if applicable) in accordance with the terms of the Offer and the Team Members’ respective Splits after recoupment.  

Other payments to Indify for rendering the Services will be set forth in the applicable Offer and will apply as provided in the Offer against the various Team Members as described in the Offer.  For clarity, such payments to Indify (and who pays Indify) may change from Offer to Offer.  For a visual example of how cash may be earned and paid out via the Services, see below.

Example of Partner and Team Earnings and Payouts Flow

[Indify:  please insert most up to date flow chart.]