If you are quoting directly from the contract, it sounds like you have a very confusing & possibly badly drafted contract. In my experience, this is probably because the person who wrote it is either a non-lawyer trying to sound like a lawyer or a lawyer who is using a form he/she got from somewhere else & doesn't really understand.
It sounds like the first provision is simply saying that either side can terminate the contract if the other side fails to live up to their obligations, but once terminated the company would still have to pay the artist any money due from exploiting the artist's songs.
Re: use of the stage name, that language you quoted is very confusing. Typically, I think it is very unusual for a label to keep rights in an artist's stage name - unless it is the name of a band that the company created and the artist being released is only one member of the band AND the rest of the band is remaining under contract to the label.
You really need to consult an experienced music attorney to look at your actual contract & to make sure you terminate the artist properly. Good luck.
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The 1st paragraph says company can release the artist if artist hasn't fulfilled their minimum commitment. Company still has to pay artist what's owed.
There's nothing here about Company's right to use artist's stage name.
I'm still wondering how any record label cannot have its own lawyer to decipher what they drafted (or what someone trying to impersonate a lawyer drafted). It doesn't look like a lawyer write this.
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