Fill and Sign the Terms of Agreement for Sale and Transfer of a Work of Art Form

Assignment of Painting or Work of Art Page 1 of 3 Assignment of Painting or Work of Art This Assignment of the original paintings artwork (this Agreement) is entered on this the day of , 20 , between , (Name of Artist) referred to herein as the Artist, located at , and (Street Address, City, County, State, Zip Code) , referred to herein as the Assignee, located at (Name of Assignee) , with respect to a Work of Art, hereinafter referred (Street Address, City, County, State, Zip Code) to as the Artwork.Whereas, the Artist has created the Artwork; andWhereas, the Artist wishes to assign the Artwork and the Assignee wishes to assume all of Artist’s rights and interests in and to the Artwork; Now, therefore, for and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Description of the Artwork: Said Artwork is described as follows:Title: ;Size: ;Year Created: ;Framed or Not Framed: ; andSigned by Artist: .2.Assignment: In consideration of the sum paid by Assignee to the Artist, the Artist:Assigns absolutely to the Assignee the copyright subsisting in the Artwork for its use in all current and future media whether that use is known or unknown to the Artist; Agrees that Artist may modify the Artwork as it sees fit to meet its requirements; andUnconditionally waives all moral rights which the Artist may have in respect of the Artwork.This assignment will be effective for the entire duration of such copyrights and will include all rights to apply, reproduce, prepare derivative works, distribute copies, perform and license such copyrights.3.Delivery: The Artist shall provide Assignee with the Artwork (describe method of delivery) no later than . (Date) Assignment of Painting or Work of Art Page 2 of 3 4.Payment: In consideration for the Artwork, Assignee will pay the Artist the sum set out in Schedule 1 of this Agreement. This sum shall be the total consideration for the Artwork. The Artist agrees that they shall have no future claim for royalties or compensation from the use of the Artwork. Payment shall be made immediately upon delivery of the Artwork.5. Warranty and Indemnity: A.The Artist warrants to the Assignee that: The Artwork is an original work; Artist is the sole proprietor of the Artwork; andThe Artwork does not infringe any existing copyright.B.The Artist will indemnify Assignee against loss, injury or damage (including any related legal costs or expenses properly incurred) occasioned to Assignee in consequence of any breach by the Artist (unknown to Assignee) of the warranty in Clause 4-A. 6. Severability. The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 7.No Waiver. The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred.8. Governing Law. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of . (Name of State) 9.Notices. Unless provided herein to the contrary, any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement.10. Entire Agreement. This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement.11.Modification of Agreement. Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. Assignment of Painting or Work of Art Page 3 of 3 WITNESS our signatures as of the day and date first above stated. By: By: (Signature of Artist) (Signature of Assignee) (Printed Name of Artist) (Printed Name of Assignee) (Attach Schedule 1).