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.”

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.

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

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.

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.

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

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.

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.

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)

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.

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.

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.

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

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

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.

15. GOVERNING LAW

This Agreement shall be governed by the laws of:

__________________________ (to be specified)

16. ENTIRE AGREEMENT

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

SIGNATURES

Writer: __________________________
Date: __________________________

Producer: __________________________
Date: __________________________