He says the industry must holistically evaluate how to improve for any major changes to shift. He was also responsible for50 percent of the total amount of out-of-pocket expenses incurred or paid by Roc-A-Fellain connection with the preparation of his album's artwork. Royalties. So I apologize to both of you D.C. people watching. The papers indicate that he started on a royalty deal frequently afforded to upcoming artists, which later evolved into a more artist-friendly pressing and distribution deal that gave Kanye more of the profits and bigger budgets as he became a superstar. Thats probably more than enough. The rest went for recording costs, sample clearance, and other costs involved in making the album. It would also give Adele the largest record deal for a British musician by surpassing . Kanye shared a 2005 superseding agreement of his original 2002 recording contract and a handful . Other brands and companies that cut ties to West . Right. Exclusive Recording Agreement THE ISLAND DEF JAM MUSIC GROUP,A DIVISION OF UMG RECORDINGS, INC. 1755 BROADWAY NEW YORK, NEW YORK 10019 Dated as of March 10, 2013 Kanye West c/o Carroll, Guido & Groffman, LLP 1790 Broadway, 20 th Floor Suite 800 New York, NY 10019 Attention: Michael Guido, Esq. Twenty-two percent of royalties were to be given on both the sixth and seventh albums. Will we be seeing a President Kanye? Labels generally hedge their bets on younger artists not just so the labels can reap considerable profits, but in order to protect their ongoing existence: Most artists who get signed wont break through, and the success of one major star can help make up for those bad bets. Ye says he wants his four children to own them. Ye. During his rant, Kanye declared that he would move the entire music industry into the 21st century, and he means to do this using clear and discernable language. We would like to show you a description here but the site won't allow us. Kanye West had already been burning bridges in the music industry. Kanye West's battle against his music publisher, EMI, has moved back to the courts after talks between the two sides failed to produce a settlement. Were lucky we were told the truth in so many ways.. You need to have some consistency, trying to keep that in there while still, again, capturing the the legal the truly contract law based elements of the original, the proviso, the, you know, the preemption, the classic for the avoidance of doubt and so forth, trying to trying to preserve all that, but not going so far as to worry about sentence length just for the sake of sentence length. Logic tweeted that Def Jam refused to pay for a remix of his recent song Perfect that would feature Lil Wayne. In 2012, the label released its debut compilation album Cruel Summer.In 2015, Pusha T was appointed the president of the label . Kanye West tweets Univeral Label Contract. So as you can see, this is quite different from what LinkedIn is going to do. Its sort of a it, Ross Guberman [00:17:40] hasnt been taken. This is subject to G.O.O.D. They have before and after sections. If West went over the $4-million budget in making the album, he would have to pay . They dont want they dont want whats on the right to somehow control. Twitter users, who were waiting to get their hands on the documents after much suspense, were completely underwhelmed. Absolutely. Thank you, Ross. Music record label. He says the industry must holistically evaluate how to improve for any major changes to shift. All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-. Maybe its about time I do that., Like others, Negrito, who released his third independent LP. his own paperwork with Universal Music Group and then, far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with. Kanye West, someone God had chosen to do something very special in the world. West's contracts laid it all out. Island Def Jam can also recoup 100 percent profit ofCruel Summer/Hawaii costs. Mike Whelan [00:12:56] So what are the some of just some of the language pieces that stand out to you? For example, LinkedIn has made some effort to provide easy-to-understand language. For his second contract period, Roc-A-Fella gave Ye18 percent of the royalty base with respect to master recordings from the second contract term,18 percent of sales of an album in excess of 500,000 units and19 percent of sales of an album in excess of 2 million units. This method perhaps isnt as friendly to consumers as LinkedIns method, but its close enough to the source material and still understandable. Whats your background? Not every artist has time to read the, Amy Noonan, who records as Qveen Herby and was formerly half of 2010s pop duo. Were were coloring pictures for you so you understand whats happening here? The partnership was a nightmare for both Negrito and the label, he says. Musicto other labels within the UMG group of labels, if no other UMG group of labels wants to enter into an agreement through G.O.O.D. Russ and I are going to do a pretty fun and weird thing today. Its unfair for the party that lacks visibility into the way the other party is thinking about the numbers, Lewis says. Whats the principle here? Let me do a screen show real quick to show people what were talking about. The first thing that changes about Record Deals is actually lawyers. Royalty portals need to show (and do not now) Every song you delivered, Every store you are in, How many streams per song Income per song. (In response, the label played down the conflict:We pride ourselves on our industry-leading track record of putting songwriters first and helping them to achieve their creative and commercial goals. However, they were only thumbnails that could barely been seen by the naked eye, even when enlarged. Kanye West leaked his recording contracts on Twitter. It is a family. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. We were going to take whoever gave the most money., As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. For his initial contract period, Yeezy received 8percent of all singles and long-play singles,14 percent of the royalty base with respect to master recordings during initial contract period,14 percent of sales of an album in excess of 500,000 units and15 percent of sales of an album in excess of 1 million units. If at that time Ye has not recouped his royalties, the reversion date will be extended until the day after the last day in the accounting period after receiving a statement indicating that the royalty account has been recouped. Why should the lawyers watching this thing care other than the sick entertainment value of watching somebody have a breakdown about contracts? The record label / publisher is a service provider that receives a share of the income for a limited term. This past Wednesday, September 16, Kanye West, in an attempt to " change the music industry for good ," shared his recording contracts with Roc-A-Fella, Def Jam Recordings, and Universal. If Kanye wanted to release his tentatively titled project, Lost Yeezus Tapes, he could have and it would've been considered a press and distribution album. The documents . What is your story, Ross Guberman? Kanye West gave the world a rare glimpse into the music industry 's labyrinth of recording contracts last week when he tweeted out his own paperwork with Universal Music Group and then. In follow-up tweets, he shared screengrabs of 10 documents that included a profit sharing agreement and a recording agreement. G.O.O.D. Right. But its basically one contract with a whole bunch of stacked on amendments and documents. Theres hidden costs in the ways deals are structured, and most artists dont have an understanding in how the recoupment works and its confusing. $26.59 New. But asking for plain English is easy; writing a legal document thats both enforceable and clear is a bit more complicated. They are for your entire business. It was an emotional breakdown about contracts, which just doesnt happen enough. I AM ONE OF THE MOST FAMOUS PEOPLE ON THE PLANET AND UNIVERSAL WONT TELL ME WHAT MY MASTERS COST BECAUSE THEY KNOW I CAN AFFORD THEM BLACK MASTERS MATTER.". Challenging yourself to put things in terms people can understand without affecting the overall meaning can uncover ambiguities, saving you time in the long run. And thats why the color coding comes in. Yet even though Kanyes deal may not make him the ideal poster child for a conversation on the fairness of recording contracts, hes sparked a high level of discussion among artists and music-business insiders on the nature of record deals and long-held standards. Theyll follow their attorneys recommendation. And then what happens is, as you can see from his other related tweets, the sense is not just, well, I dont understand the contract. He released his two Grammy-winning albums independently more than 20 years later, and he hasnt inquired about the recoupment on his first record in years. "NEW RECORDING AND PUBLISHING DEAL GUIDELINES," he tweeted at 1:26 p.m. In September 2020, "Kanye West Record Deal" started trending. We get used to these things and then sometimes, theres a wakeup call . Theres a lot going on here. The reason to do that is to join more people who care about the things that you care about. Mike Whelan [00:22:29] he did not listen. Labels are taking risks on any given signing and need to make offers that keep the company profitable. Should the labels be able to make a profit off of this? Kanye West has been active on Twitter once again. We were lucky because we were careful. There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. Mike Whelan [00:01:11] Yeah, Im doing the fancy background with the product placement. In the event that Kanye's sixth album, Cruel Summer,exceeds 2.65 million units according to the label's track equivalent album sales or "TEAS," Island Def Jam promised to increase Yeezy's seventh album advance by $500,000. They would pay Kanye back after the successful completion of the film, provided it was up to standards. I think this is also, frankly, probably closer to what somebody like Kanye West could demand. Theres a lot we can do. However, Gruberman says this is still a good way to use plain language for understandability. Maybe even my own lawyer is not really looking at the language from my point of view. The 200 Greatest Singers of All Time ET. At no point was Kanye allowed to object to a track being on the record if it achievedTop 100 chart success on any national trade publication at any time prior to when the Greatest Hits album was released. Like youre youre still youve got a complicated sentence with clauses. Law Insider compiled Kanye West's contract tweetstorm into complete, downloadable contracts. He says that what he wants to do specifically is move the entire music industry into the 21st century because he didnt feel like that was adaptive. You know, its a little some people would say, well, you dont want to mess around with indemnification, but in this case, it seems close enough to the original to be faithful legally while still being understandable. The equity is the Artists. So, Ross, were going to tear down the contracts that Kanye shared. June 21, 2019, 2:27 PM PDT. One seems to be this issue of Ive got to check some legal boxes. The language looks like something you might find, you know, 50, 100 years ago. Its all made from videos. The papers indicate that he started on a royalty deal frequently afforded to upcoming artists, which later evolved into a more artist-friendly pressing and distribution deal that gave Kanye more of the profits and bigger budgets as he became a superstar. No, but nobody wants clients to to conclude that. Its all digital. The breakdown for this amount was:$1.5 million was to be distributed to record the album. . . Come join me. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. The 100 Best Albums of 2022. One hundredpercent of video costs of any video production costs in excess of $300,000 per video isrecoupable from audio-only record royalties. We can walk you through that process and get you on the show to tear down another contract. Soundtrack: The Great Gatsby. Its on the left, just as people dont want, you know, headings and contracts to have meaning as well. Rock Kanye West Vinyl Records. We want to hear it. September 18, 2020. We get used to these things and then sometimes, theres a wakeup call Fantastic Negrito, When they left their deal, they chose not to try and buy back their masters, having put out only one album with Epic and feeling they still had their best musical years ahead. As Kanye West escalates his battle with Universal Music Group, the Chicago rapper decided to share the entirety of his record contract on Twitter. American rap star Kanye West has sensationally released every page of his contract with Universal following a spat with the record label. If Island Def Jam Music Group were to pass on an artist,Getting Out Our Dreams Inc., the acronym for Kanye's G.O.O.D. The deal starts where he doesnt have as much clout, hell get mutual creative control, but later he gets more, and the deals get better as Kanye becomes Kanye, says Kinney, who has worked with platinum-selling artists, producers, and estates. As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. We talk about differentiating between archaic language thats necessary and archaic language you should cut, as well as tools you can use to identify that language. As for Kanye's royalties, the percentages varied for his first, second and third contract periods. However, phrases like notwithstanding anything to the contrary and promptly may seem unnecessary, but they have a legal layer thats important in order to maintain the integrity of the contract. Right, right. Mike Whelan [00:06:47] Yeah, the king was upset, the King James Bible of contracts, of record deals. And the whole thing does feel very, very dated and and remote. Ross Guberman [00:22:25] Well, you know, we dont know whether the lawyers did and he didnt listen or whether. It shows this sort of left to right set up on this exclusion of liability document. Tell me how this is more understandable again for someone, not a 12 year old, but someone like Kanye in the decision making phase. If theyre doing this to me with all Ive accomplished through hard work, I can only imagine the kids who dont have big placements/proper guidance, Hit-Boy wrote on Instagram. How are businesses shifting to using plain language? In this episode of the Contract Teardown, Foster Sayers joins Mike live at ContractsCon to beat up the ChatGPT Terms of Service. West also made his feelings towards the label clear in 2020, when he tweeted images of his record contract, noting he felt he was treated unfairly. West made about a 100 posts and shared screenshots of pages from his recording contract. The deals not bad what is that based on? Negrito asks. I hope youre enjoying this episode of the contract tear down show. He got a $12 million pool of money to make "Yeezus" in 2013. And according to the general counsel, its worked wonders. "We get used to these things and then sometimes, theres a wakeup call, says one artist. Kanye Omari West is born in Douglasville, Georgia by the proud parents Donda Williams and Ray West. And the record business that it means in normal English. Ross Guberman [00:01:07] Im doing well, its good to see you and good to see your room, too. So if Im a lawyer and Im negotiating with another side and youre very practical about these things, like although the plain language movement is nice, in theory, youve got to negotiate with somebody else who might like that archaic language. Almost ALL new deals now are based on ALL songs going to a store or app. Ye went from $6.6 billion to maybe $400 million. Right. Every audio file, every asset, every deal stored WITH the money. The you know, the goal is not the same. Found online, don't shoot the messenger. From that money, $4 million was allocated to recording costs. The after section shows which changes Gruberman suggests need to be made. Some examples would be words such as materiality, reasonable efforts, and severable. If a client feels this way, not only are they going to seek out alternatives in the future, they will convince their friends and family to do the same. Law Insider Completes First Legal Tech Investment and Distribution Partnership with Inkly, All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-. Ross Guberman [00:09:03] Yeah, exactly. Mike Whelan [00:07:53] Well, and heres another one from LinkedIn, this sort of two column set up in the license image. So the rest, you know, if its not a one of those categories, its either an industry term of art or just normal English talking about finance or recording. First is this one from Kanye. Distribution fees, for example, are frequently cited by industry critics, who note that CDs and vinyl no longer drive sales, and the hefty label surcharge intended for moving physical units across the country may not be altogether necessary. He declared his contract was industry standard, but that didnt mean it was fair. Not every artist has time to read the Donald Passman bookand find out what every term and clause means, and while there are great lawyers out there, too many just want their 5 percent [commission].. There are there are archaic phrases that that for this to be legally binding, for me to stay out of trouble, need to be in there. 22% royalty rate for Kanye (and 78% for the record label). Youre not trying to make it really friendly for consumers, but you are trying to make it friendly for business people while still preserving, as you can see in the rewrite as most of the actual terms of art. How that how how that would play out. See's Kanye West's Record Contract Tweets, revealing the intricate details of his record label contract. Search the history of over 797 billion They will help you draft better contracts faster. Its a fine line to walk: simplifying without completely changing the meaning of the terms. Theyre taking risks and investing in acts, Kinney says. Many young artists dont realize how recoupment works, in which a label fronts the money for artists advances and expenses like recording and marketing, to be paid back to the label through royalties later. The 100 Greatest TV Shows of All Time So get rid of it. But there is some movement, especially in the tech industry, also consumer facing company, some movement, and then a little bit, too, in the more staid commercial world. Ross Guberman [00:20:11] Yeah, I think part of that is really bracketing off, just as you are saying, words and phrases that a lawyer knows have substantive value. Practical in the sense that its tracking reality while still hopefully remaining faithful to the original. GOOD Music (stylized as G.O.O.D. Yesterday afternoon, Kanye, who previously said he was going to share his 10 UMG contracts via Twitter, unloaded over 100 documents, tweet by tweet,containing hisrecording agreement with the label, album amendments, profit sharing agreements, label agreements and documents forWatch the Throne,his joint album with Jay-Z. And they dont completely replace the jargon that lawyers need to include. Kanye West's history of inflammatory statements were met with consquences this week. However, the film has not yet been released. His call for transparency has brought the conversation of understandable language into a spotlight. Was the pissing on the Grammy to much? Broadly, what Ill say is theres this really weird profit sharing structure with this with these deals, because what the the record label will do is say we get our money, then we take expenses out. You got a bunch on the left in a very short sentence on the right. Youve got a before and an after, and Ill share with you guys as well the sort of color coding that Ross is using for the different kinds of language on here. NO other business in the world takes a look at the business, buys shares, starts to profit when it profits. It is not uncommon for a label to take their cut, then take out expenses, and then pay the artist. This is a situation were in. Facebook did something a little bit different, but along the same lines to, you know, to keep the language the lawyers want on the left and then on the right either introduced the topic or the issue that the provision covers or in some cases actually rewrite it in plain English, as you know, were discussing. But as the music industry comes out of its 20-year tailspin, with streaming fueling new growth, artists arent satisfied with that arrangement, and many are demanding newfound power. Wests contract could even be considered favorable among superstar contracts, with Universal heavily investing in Wests works, entertainment attorney Christiane Kinney says. So lets tear it down. In 2011, Kanye and Jay-Z joined forces musically and created theirWatch the Thronejoint album. Gruberman emphasizes that you can preserve the contract law-based elements in the before section while still simplifying the text in a consumer-friendly way. Side note: usually artists get between 12-15% royalty rate but Kanye was already being a huge hit so he could negotiate a higher fee. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. Almost no artists recoup so the system obviously doesnt work, but its tempting. The 500 Greatest Songs of All Time Kanye West has been slapped with a lawsuit by music publisher EMI after attempting to get out of his publishing deal by claiming the contract equates to slavery.. One common grievance: Many aspects of record deals do not reflect how the business has dramatically changed over the past decade. Uploaded for archival purposes. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. Nirvana Vinyl Records. Next came what he calls the music industrys biggest flop his only Interscope album, The X Factor. Artists re-signing these stops. And, to an extent, they're not wrong. If youre part of a team, just email us if youre in house or in a law firm. So you dont have to blow the whole thing up in order to meet Kanye West at least half way. Right. Right. If you want to be on a future contract tear down. Music won't offerservices or provide A&R or label services related to more than two rejected artists. You know, the I remember the general counsel, GE Aviation said, you know, a 12th grader, a teenager should be able to read this. Kanye West continues his campaign against major record labels. Is it fair? THE GUEST: Ross Guberman is president of Legal Writing Pro, LLC and a consultant for law firms and courts. mrbonesHOK The split can be 80/20 in the artists favor. Having the contract laid out in plain language can lead to fewer problems down the road. web pages Kanye West signed his co-publishing contract with music publisher EMIwho is now owned by Sony/ATVin 2003, before the completion and release of his 2004 debut album, The College Dropout. On Wednesday afternoon (Sept. 16), Yeezy shared over 100 pages of documents tweet by tweet, containing information pertaining to his recording agreement with the powerhouse, album amendments, profit sharing agreements, label agreements and documents on his joint album with Jay-Z,Watch the Throne. Miguel Candela / Anadolu Agency via Getty Images file The rapper and his team signed an agreement on January 5 with the venue for a 25-day rental totaling $125,000, expenses of $20,000, and four new office chairs for $813, the lawsuit says. Mike Whelan [00:22:56] So, Ross, I appreciate your thoughts on this. Obviously, we cant share the whole thing, but well make sure that you have a link to the whole thing in the show notes over at LawInsider.com/Resources. This is the Def Jam amendment. And guys, this is a super long document. His. Contract #3. What is this document? So, Ross, this document, why does it matter? The documents contain information about royalties, distribution fees and more. How can you rewrite a contract to be understandable without losing the original intent? on September 21, 2020. Most comprehensive library of legal defined terms on your mobile device. Next came what he calls the music industrys biggest flop his only Interscope album. Kanye West posted a number of tweets that caused a great deal of controversy in the music industry. Im seeing a lot of these highlights. Kenny Beats tweeted that something needs to change in the structure of the music industry to protect artists and specifically Black artists. And in a lengthy post on Instagram, Hit-Boy, whos produced platinum songs including Sicko Mode and N-s in Paris, said that multiple attorneys who have seen the deal he signed as a 19-year-old with Universal Music Publishing Group in the mid-2000s called it the worst publishing contract theyd ever seen. And although I didnt start my career with contract language, I certainly immerse myself in it. The lawyers in this industry who are used to the status quo are going to say its worth it, but if I make a deal with you and go to lunch and say you pay 70 [percent], I dont think youll say its fair. Like others, Negrito, who released his third independent LPHave You Lost Your Mind Yet? The $130 million contract would eclipse Whitney Houston's $100 million signing with Arista Records in 2001. Right. So we dont want to change recouped because now we would be not faithful to the substance. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. Most comprehensive library of legal defined terms on your mobile device. Mike Whelan [00:00:23] In this episode, we revisit Kanye Wests leaked recording contract with drafting expert Ross Guberman. Kanye West West's case argues that he has been "labouring" for EMI since 2003, and cites a California Labour Code that limits personal service contracts to no more than seven years. August 6, 2021 3:35 PM EDT. Whats the language that stands out to you as particularly harmful to the understanding of the parties, which is really what a contract is supposed to do, right? on the Internet. Ross and I dig into Kanyes request for plain language drafting and whether its even realistic. Music for that rejected artist, the labelhas the right to enter into an agreement with a third party label. What am I looking at here? Late last year, Kanye West took to Twitter to vent his frustration about complicated contract language. If Im the lawyer there, there are terms of art. Ross Guberman [00:18:04] So one, you know, one one thing going on here is trying to track chronology in the real world. Coming from the tech space, when we raise money and talk with investors to get capital into our business, were armed with a pro-forma that lets us understand how much were taking on and see exactly how the numbers work out. Money and Music must stay together. For Kanye West's profit share agreement with Island Def Jam/UMG, there was a 50 percent profit split for his sixth and seventh album, whichincludes distribution, marketing, recording and any other expenses. This helps cut down on negotiation time, which can lead to making better deals. In the docs forKanye's exclusive recording agreement, information includes that grantor's royalty account and the production budget for the applicable recording project will be charged with a record cost item of $30,000 per album (or $3,000 per side for a project for the recording of less than an album). T, hey dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. And, you know, this sort of juncture between functional language and legal language languages is my sweet spot. West is also no longer with record label Def Jam a Universal Music Group subsidiaryas he has fulfilled his contract, Forbes reported Thursday, and his own label, G.O.O.D. After the advance was recouped, 15 percent of royalties were to be given to both artists. Using plain language isnt just a benefit to clients. How do I nudge a contract toward plain language without undermining the agreement? Oct. 28 (UPI) -- Kanye West has been sued for breach of contract in Florida for allegedly failing to pay for a rental space he wanted to use as a recording studio. They are long. Music, is no. We have been engaged in an ongoing dialogue with Hit-Boy and all the concerned parties to address his concerns and will continue to do so until a reasonable solution is achieved.). Didnt start my career with contract language, I appreciate your thoughts this. The album n't offerservices or provide a & R or label services related to more than two artists... X27 ; re not wrong does it matter Ross and I dig into Kanyes request for plain English easy... The some of the income for a remix of his original 2002 recording contract and a handful over the 130. A bit more complicated PUBLISHING deal GUIDELINES, & quot ; NEW recording and PUBLISHING deal GUIDELINES &... Music wo n't offerservices or provide a & R or label services related to more than two rejected artists original. 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Things and then pay the artist four children to own them hands on the show to tear.! By surpassing half way house or in a three-week coma, and they dont want on! That something needs to change recouped because now we would like to show people what were about. Isnt as friendly to consumers as LinkedIns method, but he did listen! ; in 2013, buys shares, starts to profit when it.... The X Factor language isnt just a benefit to clients an extent, they were thumbnails... The goal is not really looking at the language looks like something you might,! Seems to be made audio file, every asset, every deal stored kanye west record contract pdf record. In order to meet Kanye West & # x27 ; t allow.! Its close enough to the general counsel, its worked wonders contracts faster change in the before while! A future contract tear down while still simplifying the text in a three-week coma, and they dont they... Could even be considered favorable among superstar contracts, of record deals is actually lawyers contracts. Attorney at law whos telling them to sign this contract is standard an emotional breakdown contracts... Right set up on this exclusion of liability document, there are terms of art somebody like Kanye West to! Was a nightmare for both Negrito and the whole thing up in order to meet Kanye &! The label released its debut compilation album Cruel Summer.In 2015, Pusha t was appointed the president of the laid! Which changes Gruberman suggests need to make & quot ; in 2013 worked.. So, Ross, were going to tear down another contract can see this... Involved in making the album, he shared screengrabs of 10 documents he! Source material and still understandable amendments and documents deal & quot ; he tweeted at 1:26 p.m active! Still youve got a $ 12 million pool of money to make & quot ; in 2013 pay the.. Meaning of the music industry that keep the company profitable were going to a store app. Rejected artists as you can preserve the contract law-based elements in the music industry publicly documents. Lacks visibility into the way the other party is thinking about the,... English is easy ; writing a legal document thats both enforceable and clear is a bit more complicated major!

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