Film Rights Acquisition Agreement

Film producers, exercise your option to acquire the rights to an original screenplay from the owner with this Film Rights Acquisition Agreement.

The option is being exercised in accordance with an earlier Option Agreement between the parties.
The owner of the screenplay grants the producer the right to produce one or more films from the work, to adapt the work for the screen, to exploit the work, publish the work, record a sound track, assign or license the rights, exercise rental and lending rights, and to write, produce and exploit prequels and/or sequels using the same characters.
The producer also has the right to register worldwide copyright with respect to all the films and products created from the screenplay.
The owner will be paid a set fee as the purchase (exercise) price, and a royalty calculated as a percentage of net receipts.
If principal photography on the first film has not commenced within 5 years of the date of the Agreement, the owner has the right to re-acquire the rights to the screenplay (a right of reversion).
The owner waives all moral rights in the screenplay.
The owner will receive a credit on every copy of the film and in all publicity and advertising, as the author of the work.

This Film Rights Acquisition Agreement template is provided in MS Word format, and is fully editable to fit your particular circumstances.