It was 50 years ago today that a young Jimi Hendrix signed his first ever recording contract that we turn out to be nothing but problems.

On October 15, 1965 Jimi Hendrix signed a contract with PPX Enterprises, Inc. With doing so Hendrix ultimately signed away most of the rights to his music. The terms of the contract would have lasted for a period of three years, obligating Hendrix to write, perform and record and in return he received $1 and one percent of the profits.

Within the following years Hendrix left for London with Chas Chandler where he signed a new contract with Reprise. In return, Ed Chalpin of PPX Enterprises sued Hendrix leading to a settlement in 1968.