Hey all.
Good news is that a song of mine is a top-10 finalist in a pretty big internet contest. The company seems fairly reputable, and is pretty well-known.

Thing is, I have to sign a release to claim my prize, but am a bit unsure as to some of the language. Any of you help out with interpretations?

Thanks!

Quote
5. I hereby irrevocably grant to the Sponsor, and those acting with their authority, the unrestricted, absolute, perpetual, worldwide right and license to use my name, address, photograph, likeness, voice, biographical and personal background information, statements, and Contest entry, and, without limitation, any notes, photograph, film, or video or audio tape that may be taken of me or of such materials (the foregoing, collectively, the “Content”), without further compensation, consideration, or notice or permission to me or to any third party, and to reproduce, copy, modify, create derivative works of, display, perform, exhibit, distribute, transmit or broadcast, publicly or otherwise, or otherwise use and permit to be used the Content or any part thereof, whether alone or in combination with other materials (including but not limited to text, data, images, photographs, illustrations, and graphics, video or audio segments of any nature), in any media or embodiment now known or hereafter developed (including but not limited to any format of any computer-­‐based, Internet-­‐ based, electronic, magnetic, digital, laser or optical-­‐based media), in connection with any Partner (or its designee)’s advertising, promotion, publicity, trade, sweepstakes or contest promotions, activities, or materials.


There's another one, too. But, I'll post that in a bit. Any issues with this one?
Thanks!

Here's that second potentially problematic clause:

Quote
7. I hereby grant to Sponsor a perpetual, irrevocable, royalty-­‐free, sub-­‐licensable, fully paid-­‐up, worldwide license to my entry in the Contest, together with all intellectual property rights therein, including, without limitation, the license rights to cache, copy, transmit, publicly display, publicly perform and reproduce my Entry on the websites of Sponsor, and in all other media, telecast, broadcast, via mobile devices, as well as through unknown new media hereinafter developed, and to modify and create derivative works from my entry. I hereby waive all claims that any use by Sponsor, derivative or otherwise, of my entry violates any of my rights, including, but not limited to, moral rights, privacy rights, rights to publicity, proprietary or other rights, and/or rights to credit for the material or ideas set forth therein.