Film Rights Option Agreement

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Film Rights Option Agreement Powered By Docstoc
					This is an agreement between a production company and the author of a screenplay.
The author grants an exclusive option to the production company to acquire all of the
rights, title and interest in the script for the purpose of producing a film. This agreement
is not an outright sale of the screenplay, rather, the author merely grants the production
company an option to purchase the screenplay. This document should be used by a
production company that wants to purchase an option or by an author who wants to
grant an option to purchase the screenplay.
                                 FILM RIGHTS OPTION AGREEMENT

This Film Rights Option Agreement (herein referred to as the "Agreement") is made and entered
into this ___ day of ____________, 20___ (herein referred to as the “Effective Date”), by and
between ___________________________________ (herein referred to as the "Company")
whose      offices    are   located   at     _________________________________            and
___________________________________ (herein referred to as the "Author") whose offices
are located at _______________________________, hereinafter collectively referred to as the
“Parties.”

         WHEREAS, the author is the sole owner of all of the right, title and interest in and to the
script titled “_______________________” (the “Script”);

        AND WHEREAS, the Company desires to produce and create a film based on the Script
written by the Author;

       AND WHEREAS, the Company desires to have certain options granted to it by the
Author and the Author desires to grant certain options in respect of the Script to the Author.

       NOW THEREFORE THIS AGREEMENT WITNESSES, that for good and valuable
consideration of the mutual covenants and agreements contained herein, the receipt and
adequacy of which is hereby acknowledged, the Company and the Author hereto covenant and
agree as follows:

I.       GRANT OF OPTION

1.01 The Author hereby grants an exclusive Option (the “Option”) to the Company, to acquire
all of the right, title and interest in and to the Script.

1.02 The Option shall include the exclusive right to produce and create a feature film (the
“Film”) based on the writings contained in the Script.

1.03 The Company’s right to produce and create a film based on the writings contained in the
Script may be produced on any one or more of the following means:

         A.       film;
         B.       digital;
         C.       DVD or Blu-ray disc;
         D.       compact disc, including but not limited to, computer disc or laser disc;
         E.       cassette;
         F.       theatrical;
         G.       multi-media; or
         H.       by such other means as the Company may determine.




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1.04 The Company shall have the right to develop and produce the film based on the Script in
any and all languages as the Company may in its sole discretion deem advisable.

1.05 The Company shall have the right to use the Script for the means of producing and
creating the film for television or radio purposes and shall have right to promote, advertise and
show the film in theatres or elsewhere.

1.06 The Company shall have the right and be permitted to release the film produced and
created based on the Script, by way of DVD, digitally via the web or other means of distribution,
video cassette or Blu-ray disc, or by such other means as the Company may deem advisable.

II.      CONSIDERATION TO BE PAID FOR OPTION

2.01 The Company and the Author hereby agree that the consideration to be paid by the
Company to the Author for the Option shall be the sum of __________________ ($__________)
Dollars (the “Consideration”).

2.02 The Consideration shall be paid by the Company to the Author upon execution of this
Agreement by way of certified check or bank draft, or by such other means as the Company and
the Author in writing may agree.

2.03         The Company agrees that the Author shall receive an amount equal to ________
(____%) percent of the Company’s share of net profits received by the Company.


III.     TERM OF OPTION

3.01          The Option granted herein by the Author to the Company shall commence on the
date of execution of this Agreement and shall continue in full force and effect for a term of
___________ (____) months/years (the “Term”) at which time the grant of the Option will be
terminated.

3.02           Prior to the termination of the Option granted herein by the Author to the
Company, the Company shall have the right to extend the Term of the Option granted herein for
a further term of __________ (___) months/years (the “Extended Option Period”), by providing
_________ (___) months advance written notice to the Author.

3.03           In the event the Comp
				
DOCUMENT INFO
Description: This is an agreement between a production company and the author of a screenplay. The author grants an exclusive option to the production company to acquire all of the rights, title and interest in the script for the purpose of producing a film. This agreement is not an outright sale of the screenplay, rather, the author merely grants the production company an option to purchase the screenplay. This document should be used by a production company that wants to purchase an option or by an author who wants to grant an option to purchase the screenplay.
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