MOTION PICTURE LITERARY OPTION AND PURCHASE AGREEMENT1

(Writer-Friendly Draft Version)

This Motion Picture Literary Option and Purchase Agreement (“Agreement”) is made and entered into as of __________ (“Effective Date”), by and between:

(1) Writer/Owner: __________________________ (“Writer”)
Address: __________________________

and

(2) Producer/Production Company: __________________________ (“Producer”)
Address: __________________________

Collectively referred to as the “Parties.”

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1. PROPERTY

Writer is the sole and exclusive author and owner of the original literary work currently titled:

Title: __________________________ (“Property” or “Script”)

Producer desires to acquire an exclusive option to purchase motion picture rights based on the Property.

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2. GRANT OF OPTION

Writer hereby grants Producer an exclusive, worldwide option (“Option”) to purchase motion picture, television, and ancillary rights in and to the Property.

The Option period shall be:

• Initial Option Term: _____ months from the Effective Date
• Optional Extension: _____ months, upon payment of extension fee

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3. OPTION FEE (PAYMENT STAGE 1)

In consideration of the Option, Producer shall pay Writer:

Option Fee: USD $ __________ (TO BE FILLED)

Payment schedule:

• 50% upon execution of this Agreement
• 50% within ____ days after execution

All payments shall be made via international wire transfer (SWIFT) to Writer’s designated bank account.

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4. EXTENSION FEE (IF APPLICABLE)

If Producer extends the Option term, Producer shall pay:

Extension Fee: USD $ __________ (TO BE FILLED)

Payable prior to commencement of extension period.

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5. PURCHASE PRICE (UPON EXERCISE OF OPTION)

If Producer exercises the Option, Producer shall purchase the rights for:

Purchase Price: USD $ __________ (TO BE FILLED)

Payment shall be divided as follows:

• 30% upon notice of exercise
• 40% upon delivery of final approved shooting script
• 30% upon commencement of principal photography

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6. SCRIPT DEVELOPMENT & REVISION FEES

Producer agrees that Writer shall remain the primary writer unless mutually agreed otherwise.

All revisions requested by Producer shall be compensated separately:

• Treatment revision fee: USD $ __________ per draft
• Script revision fee: USD $ __________ per draft
• Polishing fee (final draft): USD $ __________

Payments shall not be unreasonably withheld or delayed.

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7. CREDIT

Writer shall receive sole and prominent credit:

“Written by [Writer Name]”

No other writer shall receive equal or superior credit unless Writer provides written consent.

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8. RESERVATION OF RIGHTS

All rights not expressly granted herein are reserved by Writer, including but not limited to:

• Publishing rights
• Novelization rights
• Stage adaptation rights
• Radio/audio rights
• Interactive/AI adaptation rights
• Sequels, prequels, and spin-offs (subject to negotiation)

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9. MERCHANDISING & ANCILLARY REVENUE SHARING

Writer shall be entitled to participation in merchandising and ancillary revenues derived from the Property, including but not limited to:

• Toys, collectibles, apparel
• Posters and printed materials
• Digital merchandise and NFTs
• Theme park or experiential licensing (if applicable)

Revenue split:

• Writer: ____ %
• Producer: ____ %

Payment shall be made quarterly with full accounting statements.

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10. CROSS-BORDER PAYMENT TERMS

All payments shall be made in USD via international bank transfer.

Producer shall bear all:

• Bank transfer fees
• Currency conversion fees
• Withholding taxes (if applicable in Producer’s jurisdiction)

Payments shall be deemed made only upon receipt of cleared funds in Writer’s account.

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11. CREDIT & CREATIVE CONSULTATION RIGHTS

Writer shall have the right to:

• Be consulted on major script revisions
• Review final shooting script
• Provide creative input on character and story integrity

Such consultation shall not be unreasonably denied.

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12. WARRANTIES

Writer warrants that:

• Writer is the sole owner of the Property
• The Property does not infringe third-party rights
• Writer has full authority to enter this Agreement

Producer warrants that:

• Producer has financial capability to execute the Agreement
• Producer shall act in good faith in development

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13. TERMINATION

If Producer fails to make any payment within agreed timelines, Writer may:

• Terminate Option immediately
• Retain all payments already made as liquidated damages
• Reclaim full rights to the Property

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14. REVERSION OF RIGHTS

If Producer does not exercise the Option within the Option term, all rights shall automatically revert to Writer.

No further obligation shall remain.

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15. GOVERNING LAW

This Agreement shall be governed by the laws of:

__________________________ (to be specified)

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16. ENTIRE AGREEMENT

This document constitutes the entire agreement between the Parties and supersedes all prior discussions.

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SIGNATURES

Writer: __________________________
Date: __________________________

Producer: __________________________
Date: __________________________