THE PAPERWORK, in full.

What Masthead is

Masthead is an editorial concierge that composes cited reading dossiers for its readers. It draws on a curated index of luxury and cultural publications. A reader asks the concierge a question; Masthead generates a response composed from articles in the index, with every claim citing the article it came from.

What the Publisher contributes

The Publisher grants Masthead a non-exclusive licence to:

— Ingest the Publisher's archive content (articles, headlines, bylines, publication metadata, hero images where applicable) for the purpose of indexing and search

— Generate compositional summaries and dossier responses that draw from this content

— Display short citations and excerpts from the Publisher's articles to readers, with clear attribution back to the Publisher's name and original article URL

— Link readers from dossier citations back to the Publisher's original articles on the Publisher's own website

This licence is for use within Masthead's products only. Masthead does not gain ownership of the Publisher's content. The Publisher retains all copyright and other intellectual property rights in their archive.

What the Publisher gets

Revenue share on affiliate commerce:

When a reader on masthead.studio clicks through from a Masthead-composed dossier to a merchant via an affiliate link, and that click generates a commission for Masthead's affiliate programmes, the Publisher receives 70% of that commission when their article was cited in the originating dossier. Masthead retains 30% as platform fee.

If multiple Publishers' articles are cited in the same dossier, the 70% publisher share is divided pro-rata based on the number of citations from each Publisher in that specific dossier.

Founding cohort terms (where applicable):

If the Publisher is one of the first five Publishers to sign and onboard, the Publisher receives:

— A reduced platform fee of 20% (instead of the standard 30%), permanent for the founding cohort. The standard 30% platform fee applies to all subsequent contributing Publishers

— Permanent "Founding" designation in Masthead's editorial colophon and publisher listings, regardless of subsequent platform changes

How affiliate revenue works

Masthead is the affiliate of record for all clicks routed through masthead.studio. This means:

— Masthead operates affiliate partnerships with merchants (Booking.com, Mr Porter, etc.) under its own affiliate accounts

— Affiliate commissions for masthead.studio traffic are paid to Masthead first

— Masthead settles the Publisher's 70% share monthly, based on cited-article attribution

The Publisher retains all affiliate relationships and revenues for traffic on the Publisher's own websites. This agreement only covers masthead.studio-driven traffic.

Settlement and reporting

Masthead provides the Publisher with continuous access to a publisher console showing:

— Citations from the Publisher's articles in dossiers composed by Masthead

— Affiliate clicks and conversions attributed to those citations

— Gross commission earned, platform fee deducted, net amount payable

— Downloadable monthly statements suitable for the Publisher's accounting records

Net payment is made within 30 days of month-end via the payment method the Publisher specifies during onboarding. Minimum payout threshold: €50; amounts below this roll forward to the next month.

Where the publisher console is unavailable, Masthead will provide equivalent reporting by email within reasonable time.

Editorial discretion

Masthead reserves the right to:

— Decline to compose dossiers using specific Publisher articles where editorial judgement requires (for example, content that became outdated or factually superseded)

— Remove specific articles from the index at the Publisher's written request

— Suspend or remove the Publisher's archive from the index, with 30 days' written notice, where Masthead determines the Publisher no longer meets editorial criteria. In such cases, accrued revenue owed to the Publisher remains payable.

The Publisher reserves the right to:

— Request removal of any specific article from the index at any time, via the publisher console or by written request, completed by Masthead within 14 days

— Terminate this agreement at any time with 30 days' written notice, after which Masthead removes the Publisher's archive from the index within 14 days of termination effective date

— Continue to receive any commission earnings owed at the time of termination

Data handling

Masthead processes the Publisher's archive content as data controller for the purpose of operating the concierge. The Publisher's archive is stored securely, accessed only by Masthead's systems and authorised personnel, and not shared with third parties beyond what is necessary to operate the service (e.g., AI providers used in compose operations, hosting infrastructure).

Masthead complies with applicable data protection law including the EU General Data Protection Regulation. The Publisher may request deletion of specific data items at any time.

Representations

The Publisher represents that:

— They own or have full rights to license the archive content they make available to Masthead

— The content does not infringe any third party's rights

— They are authorised to enter into this agreement on behalf of the Publisher entity

Masthead represents that:

— It will operate the service in good faith and in accordance with this agreement

— It will pay accrued amounts owed in the manner described

— It will give the Publisher reasonable notice of any material changes to this agreement

Liability

Each party's total liability under this agreement is limited to the total revenue actually paid or owed between the parties in the 12 months prior to a claim arising. Neither party is liable for indirect, consequential, or punitive damages.

Term and changes

This agreement commences on signature and continues until terminated by either party with 30 days' notice as described above. Masthead may propose changes to this agreement; such changes take effect 30 days after written notice to the Publisher unless the Publisher objects in writing, in which case the parties will negotiate in good faith or the Publisher may terminate.

Governing law

This agreement is governed by the laws of the Republic of Cyprus. Disputes are first to be resolved by good-faith negotiation. Where negotiation fails, disputes are subject to the non-exclusive jurisdiction of the courts of Cyprus.

Other

This agreement is the entire agreement between the parties on this subject. It supersedes any prior verbal or written discussions. If any clause is found unenforceable, the remainder continues in effect.