Option Contract (samples?)

Randall_Oelerich

Randall_Oelerich

Veteran
EDIT: I found some sample contracts online, should have googled a bit (actually I use duckduckgo.com so I guess I quack instead of google!) before posting, just happening all so fast. Still, if anybody has any wisdom on what to have or not have in an option contract feel free to chime in, will be appreciated.
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A producer wants to option a feature spec of mine (Scarecrow [teen revenge slasher snt horror]) after having run my screenplay by his partners, said he really likes my style of writing, thinks the logline and story are great, says he has a well known actress very interested in the lead protagonist role. Anyhow, this would be a first for me. Wondering if anybody here has a sample option contract to toss my way, especially one that would include a purchase price (if the option is exercised) that would vary with the film budget including a clause on the final purchase price should the budget increase after signing the option contract as the producer attempts to package the project (something I read today on a blog post at Bill Martell's site where he had to learn the hard way to do this after that happened with an option contract on one of his specs). Of course I wish I had the bucks to hire an expensive Pennsylvania lawyer. I will not taken any replies to this post/thread as any sort of official legal advice, any discussion here is completely off the record in any legal sense, is purely for educational purposes.

Probably any deal will fall through, but it is still nice to know my writing quality and story has gained the interest of a producer and an actress. I'll just keep on writing...
:) randall
 
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I'm guessing this is an all no budget indie thing, because they'd probably have offered you a contract instead of asking you for one. Just make sure there is an expiration date and if you are getting paid you get something up front, because most likely that's the only money you'll ever see. Oh and on that expiration date all rights revert to you with nothing being owed to them. I'm sure others will chime in.
 
Chris_Keaton said:
I'm guessing this is an all no budget indie thing, because they'd probably have offered you a contract instead of asking you for one. Just make sure there is an expiration date and if you are getting paid you get something up front, because most likely that's the only money you'll ever see. Oh and on that expiration date all rights revert to you with nothing being owed to them. I'm sure others will chime in.
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I believe it is going to be a '$1M Blueprint' production (that i first learned about on filmspecific.com from Taormina [dvxuser writer/producer] who uses this method that involves no equity financing, for financing films in the budget range of $1M-$5M sometimes as low as $500k, involves ~40% of budget going to talent and requires name talent). Just to clarify, they did not ask me for a contract, I just want to have a contract ready to study and if needed use wording/legalese from for any negotiation.

Writer friend just sent me a link on option contracts that is interesting:
http://www.scriptmag.com/features/indievelopment-show-me-the-money-getting-paid-in-indie
 
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Just found out the name of the actress who wants the lead (and who the producer wants to attach as lead for setting it up). She loves the script/story, and i am very pleased with her appearance, age, and acting experience. She is well known among high school students, has played major roles in TV shows, acted in film, has been acting since a young age. Fun to contemplate my script getting set up as a film, putting a face to a potential lead, yet I know the reality is it likely will not happen given the odds. One can hope. And in the least it gives me some validation on my writing progression. :)
 
Always great when a face is attached to a role. Really shifts the paradigm.

Don't be such a pessimist. I know your writing and have always said your work has solid merit. Thinking positive and having it crash and burn is a better place to be than thinking negative and having it crash and burn.

Been there.

a
 
Randall_Oelerich said:
EDIT: I found some sample contracts online, should have googled a bit (actually I use duckduckgo.com so I guess I quack instead of google!) before posting, just happening all so fast. Still, if anybody has any wisdom on what to have or not have in an option contract feel free to chime in, will be appreciated.
------
A producer wants to option a feature spec of mine (Scarecrow [teen revenge slasher snt horror]) after having run my screenplay by his partners, said he really likes my style of writing, thinks the logline and story are great, says he has a well known actress very interested in the lead protagonist role. Anyhow, this would be a first for me. Wondering if anybody here has a sample option contract to toss my way, especially one that would include a purchase price (if the option is exercised) that would vary with the film budget including a clause on the final purchase price should the budget increase after signing the option contract as the producer attempts to package the project (something I read today on a blog post at Bill Martell's site where he had to learn the hard way to do this after that happened with an option contract on one of his specs). Of course I wish I had the bucks to hire an expensive Pennsylvania lawyer. I will not taken any replies to this post/thread as any sort of official legal advice, any discussion here is completely off the record in any legal sense, is purely for educational purposes.

Probably any deal will fall through, but it is still nice to know my writing quality and story has gained the interest of a producer and an actress. I'll just keep on writing...
:) randall
Click to expand...

Late to the party but

http://www.donedealpro.com/members/listing.aspx?content_type=1&action=section&section_id=13
 
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