FIRST DRAFT version 2
Revised May 4, 2014
All Aramus releases must be approved by a review panel made up of Aramus.net members and artistic advisors, who will be emailed links to new submissions for review. When an applicant has successfully published 3 discrete albums or tracks with Aramus.net, in cumulative duration totaling 25 minutes or more, he or she will be invited to become a voting member of the Aramus Recordings collective. In the event that a submission is rejected for publication, the applicant will be given feedback. Anonymity of applicants will be protected to ensure unbiased assessments by the review panel.
For each track published, the contributor will receive 75 percent (75 %) of the gross revenue for that track generated by Aramus. In place of the remaining 25 percent (25 %), the contributor will receive an ownership stake in Aramus.net with associated voting rights equal to one voting stock share per track submitted. Composers submitting their original works for digital distribution will receive three voting stock shares per track/movement.
Aramus profits will be distributed as follows: 75% of the proceeds from track/album sales and royalties will be dispersed as quarterly payments into Artists’ private PayPal accounts for online use or withdrawal. The remaining 25% will be used by Aramus to market the label and grow our collective “brand” via Spotify, iTunes, Amazon, Vevo, CD Baby, Tunecore, Strings Magazine, Chamber Music America, and/or other distribution, advertising, corporate sponsorship, and crowd-sourcing venues. Common Stock reflecting ownership of Aramus Recordings will be maintained in the following proportions: 50% ownership by contributing artists, 50% ownership by management, staff, and support personnel. In the event that the Aramus collective decides to expand by raising capital, a limited number of preferred stock shares may be issued to investors, but only on a non-voting basis.
Aramus’ financial records will be made available on a quarterly basis to all members of the collective with an “open book” policy.
FIRST DRAFT ver. 2 — Aramus.net Bylaws – revised May 4, 2014
Please refer questions or comments to AramusRecords@gmail.com