This Deal Point Checklist is designed to highlight areas of importance when entering into a Life Story Rights Option Agreement. Attorney Michael Norman Saleman offers these Deal Point Checklists as a courtesy to users of this website. Contact Mr. Saleman if you need help with any of your project’s legal documentation.
Download (Life-Story-Rights-Option-Agreement.docx
) and use this checklist when negotiating a Life Story Rights Option Agreement to assist you in reaching an agreement on major deal points. Return this Word document with the details to facilitate the drafting of your agreements.
- Option Price
- amount
- extension amount
- length of time
- credited against purchase price?
- Purchase Price Upon Exercise of Option
- payment due same time as exercise of option
- payment due upon commencement of principal photography
- amount
- percentage of budget
- floor and ceiling
- flat fee
- Subsequent Production
- remake at 50% of purchase price
- sequel at 33.33% of purchase price
- TV series (per episode produced)
- price at 30 minutes
- price at 60 minutes
- price at 60+ minutes
- Consulting Services
- duty to provide materials
- who pays copying, transfer, storage and return
- who keeps when production is complete
- duty to meet with writers
- travel expense issues
- costs such as per diem issues
- fees in addition to purchase price for consulting
- duty to provide materials
- Personal Appearances
- talk shows, etc.
- amount of appearances required
- travel expenses
- fee (if not part of consulting fee)
- Prior Grants and Due Diligence
- Rights Granted
- territory
- media
- allied and ancillary
- likeness/image
- approvals
- consultation rights
- fictitious portrayal
- print rights
- Reserved Rights
- book
- stage
- radio
- first refusals for purchaser
- Credit
- creative consultant
- associate producer
- Reversions
- term of years (5 to 7)
- turnaround payment required
- interest
- back end participation