Hey everyone,
We are in the process of optioning a novel to adapt, but the author's agent put the following clause in the contract. Could anybody point me to where I can find out exactly what that means:
1. Option
1.1....
1.2....
1.3....
1.4 In the event the Producer sets the project up (such set up as is customarily understood in the film and television industry) with a studio, distributor, broadcaster or other financier, the Writer shall immediately receive a bonus of £10,000, such sum is non-deductible from the Licence Fee as defined below.
1.5...
Basically: what is defined as setting up the project? Would signing with a distributor up front be setting up?
Any advice would be greatly appreciated.
~Rik
We are in the process of optioning a novel to adapt, but the author's agent put the following clause in the contract. Could anybody point me to where I can find out exactly what that means:
1. Option
1.1....
1.2....
1.3....
1.4 In the event the Producer sets the project up (such set up as is customarily understood in the film and television industry) with a studio, distributor, broadcaster or other financier, the Writer shall immediately receive a bonus of £10,000, such sum is non-deductible from the Licence Fee as defined below.
1.5...
Basically: what is defined as setting up the project? Would signing with a distributor up front be setting up?
Any advice would be greatly appreciated.
~Rik
