NFT Issuance contract

1    Human readable summary

·  What is the contractual relationship I am bound to as an Acquirer?

o   As an Acquirer you conclude a License contract with the Creator;

o   As an Acquirer you conclude an Issuance contract with the Issuer.

·  What do I get by acquiring the PAA-token?

o   An non-fungible token qualifying as a DLT-security under Article 973d et seq. of the Swiss Code of Obligations;

o   The NFT token embeds directly the rights resulting from the license. The loss of the NFT token or its access does not nullify your legal rights.

·  What is the license’s content?

o   In short

§  The license rights on the copyrights of the Artist on its WOA, its related rights and derivative works;

o   Type of license

§  Exclusive: You alone can exploit the work.

§  Worldwide: everywhere in the World.

§  Commercial: includes commercial use

§  Term: ends 20 years from the time of its issuance (conventional renewal is possible)

§  Conditional: restricted by the Issuance contract.

o   Content

§  Including present and futures rights over the wok regarding:

·  Use:

o   Produce copies;

o   Distribute the work;

o   Perform the work:

o   Broadcast by radio, television or retransmit it by technical equipment means;

o   Make it available to the public.

·  Perceive all the pecuniary rights attached to the work;

·  Right & ability to issue Authenticity tokens linked with the PAA token (PAA-Auth)

·  Right & ability to issue Sublicense and/or Splitting the rights under new NFT tokens linked to the PAA token (PAA-X Subtoken)

·  Right to pledge the token

·  Right to terminate the License / Issuance contract

·  Right to transfer the token via blockchain

§  Excluding notably

·  Creator’s personal right to interpret the song free of charge.

·  Creator’s personal right to use the work and broadcast it on a video on its social media free of charge and to perceive the pecuniary rights attached to this broadcasting.

·  Patents, trademark, personality rights, moral rights of the artist.

Text reproduced with permission from Gabriel Jaccard and Quentin Adler,

11 June 2021