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Preamble
This Agreement made by and entered into as of ___________________ between __________("Owner"), and _________________ ("Purchaser") is made in reference to those literary work(s) written by Owner entitled ______________________ (collectively referred to herein as the "Property") with regard to a motion picture to be produced by Purchaser for initial release in theatres or on television, based thereon (the "Picture").
This contract, like our Model Trade Book Contract, is a template intended to provide guidance so authors (and publishers) are aware of some of the basic terms and conditions contained (or which should be contained) in film and TV option agreements. Its provisions and suggestions may not be the best for all circumstances, so we recommend that you review your specific contract with the Authors Guild or with other counsel to make sure that your contract addresses your own issues and concerns.