2020-06-01 – Updates following acquisition of the assets of Crestock by Design Pics, Inc.
2012-12-20 – Revisions updating business processes, including:
- Section 7.4 – Credit line if no identification in image metadata supplied by artist.
- Section 11.5 – Confirmation of royalty rate for images downloaded through subscriptions sold by Masterfile.
- Section 13.1.5 – Foreign withholding taxes.
- Section 13.2.1.1 – Simplified process for Moneybookers payouts.
- Section 17.4 – Minimum payout threshold upon termination.
- Section 17.5 – Retention of royalties if agreement terminated due to material breach by artist.
2011-11-09 – Changes include adding Masterfile Corporation as a licensor of Accepted Images, increases to artist royalty rates, and minor cleanup as follows:
- Addition of references to the Masterfile Websites throughout.
- Section 8.2 clarifies that the Crestock Website remains your sole point of contact with Crestock and Masterfile.
- Section 11 – Terms of licensing by Masterfile.
- Section 13 – Progressive royalty increases:
- Single Images: 20% - 25% - 30% - 35% - 40%
- Subscription downloads: $0.25 - $0.30 - $0.35 - $0.40
- Changed calculation of aggregate download count to include subscription downloads. Previously threshold did not count subscription downloads.
- Deleted references to prior royalty agreements under the former owners of Crestock (old sections 12.5 and 18.14) because the new rates have improved upon the old ones.
- Section 16.1 extends the notification period for termination from 30 days to 60 days to accommodate Masterfile's content update cycle.
- Section 17.2 – confirms timeline for removal of Accepted Images after termination. The prior agreement was silent on this point.
- Section 18.2 – updates method of notifying you of changes to the Artist Agreement (basically, what you are reading right now).
- Several typographical and other errors in the prior version of the agreement were corrected.
2010-07-01 – New Artist Image Upload Agreement established following acquisition of the assets of Crestock by Masterfile Corporation.