This sheet states what earns, how much, for how long, and what happens when the numbers change. It is compensation for services. It is not equity and there is nothing here to own a share of.
A registered object. Anything you make that is identified, hashed, entered in the registry, and citable as a dependency in a receipt.
There is no list of eligible kinds and there is not going to be one. A lens, a library, a component, an extension, or a kind of thing this sheet cannot name yet. The test is the threshold and not the category: observable in the record, recomputable by a stranger, citable as a published object.
Every registered object is assigned a band when it is registered, before it has earned anything. The band does not change afterwards.
Each paid engagement pays 10% of its fee into one pool. The pool is divided among every object the engagement declared as a dependency, in proportion to band weight.
One pool, however many objects were declared. Declaring more does not increase what is paid out; it divides the same pool further.
A pool is calculated when the engagement's fee is received, and it is paid within 30 days of the end of the quarter in which that happened. Quarterly rather than per engagement, because paying several people a small sum every time serves nobody.
The pool comes out of the engagement that triggered it. A residual is never a claim against revenue that has not arrived, and the term does not accrue a debt: it is a window in which new engagements can trigger new payments, each one funded by the work that caused it.
Amounts owed and not yet paid are held apart from operating funds, and the total owed to you is shown on request.
Where an object is derived from another, the parent takes 25% of what the derivative's share receives.
One generation. A fork of a fork earns for itself and for its immediate parent, and no further back.
5 years from the object's first paid use, not from its registration. At the end of the term the object stops earning and the right reverts.
The term attaches to the object and not to you. It runs whether or not you are still working with Legible. Staying active is rewarded by registering new objects, each with its own term, rather than by extending old ones.
This sheet is a registered, versioned object like any other. What you register is pinned to the version in force when you registered it.
When these numbers change, a new version is issued. It binds objects registered after it. It does not reach back and it does not touch what you already hold.
Legible may transfer these obligations, together with the registry, to a successor. Your terms travel with them unchanged: the same band, the same share of the pool, the same lineage, the same term, and the version you registered under.
Your consent is not required for that transfer, and nothing about what you are owed changes because of it. The clause exists so that a change in who runs Legible cannot become a renegotiation of what you hold, in either direction.
If you die within the term, the right passes to your estate for the remainder of it.
What counts as a citable object in your case, and where a project's term ends, are worked out with you.
The numbers on this sheet are not negotiated per person. One sheet, the same for everyone, published. A schedule that is negotiable is not a schedule, and it would reward whoever bargains hardest, which is the wrong thing for a studio that takes in people who are beginning.
Not equity, not an ESOP, not a partnership interest, not a profit share, and not a membership. There is no buy-in and none will be asked for.
Legible builds on Habitat, a project of Habitat Foundation, Inc., a 501(c)(3)/509(a)(2) public charity. What this sheet describes is payment for work: a share of what an engagement pays, and a share again when what you made is used on a later one. That is the whole of it.
The registry exists. The lineage field that pins a derivative to its parent does not exist yet and is being built.
Until it does, lineage is recorded by hand at registration and these terms stand as written. This clause is here so that nobody discovers it later.