270 Legal [Sample Agreements]

EXTENSION OF OPTION AGREEMENT

This Agreement, executed on the day below written, is by and between Futura Pictures (hereinafter “Producer”), and Don Tsuchiyama (hereinafter “Writer”) with respect to the unpublished literary work tentatively entitled “Cass & Karri” (which, together with themes, characters, contents, alternate titles, and other versions thereof, is hereinafter called the “Property”), as follows.

1. CONSIDERATION AND TERM: In consideration of the sum of Five Dollars ($5.00), receipt of which Writer hereby acknowledges, Writer grants to Producer a one-year extension of the exclusive and irrevocable option to purchase all motion picture, television, and allied rights in the Property (”Option”), such option period commencing on the date hereof (”Commencement Date,” which shall be the date both parties signed or the later of the two dates, if different) and continuing for twelve (12) months (”Term”).
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