Mills Music Trust settles EMI dispute for $500K, amends royalty calculation to cap deductions

MILLS MUSIC TRUST

EMI to pay Mills Music Trust $500,000 within 10 business days of Oct 30, 2025 to settle all claims.
Foreign sub-publishing fee capped at 25% for calculating contingent payments starting Q3 2025.
Cost offsets for U.S. copyright renewals limited to U.S. royalty income only, narrowing permissible deductions.
Settlement covers periods before Dec 31, 2024 and interpretation issues under tolling agreement.
Amendments to Asset Purchase Agreement effective as of July 1, 2025.

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