270 Legal [Sample Agreements]

LITERARY PURCHASE AGREEMENT

This Agreement (”Agreement”) is made as of December 22, 2003, by and between Mark C. Thomas (”Owner”) and Film And Miracle Entertainment, Inc., a California Corporation (”Purchaser”).

Owner and Purchaser hereby agree as follows with reference to that certain literary material and screenplay entitled “The Harder They Fall” a/k/a “Johnny Phoenix” (the “Work”) written by Owner.

1. GRANT OF RIGHTS. Upon the execution of this Agreement,Purchaser shall own, and Owner hereby sells, transfers, assigns and grants to Purchaser, exclusively and perpetually, throughout the universe, all right, title and interest in and to the Work (including all stories, plots, characters, characterizations, dialogue, screenplays, treatments, drafts revisions and other adaptations thereof whether heretofore or hereafter written by Owner or any other person) (the “Rights”), including, without limitation, the following: (a) all rights of copyright (including all renewals and extensions thereof); (b) the sole and exclusive motion picture (silent, sound, musical and/or talking) television and all other audio-visual rights, and allied and incidental rights, including radio, legitimate stage, theatrical, television (whether live, filmed, taped or otherwise recorded, and including series rights, subscription, pay, cable, satellite and free television rights), cassette, disc and other video devices, interactive, internet, sequel, remake, phonograph record, advertising, publication, novelization and promotion rights (including the rights to broadcast and/or telecast by television and/or radio or any other process, now known or hereafter devised, any part of the Work or any adaptation or version thereof, and announcements of and concerning same); (c) all rights to exploit, distribute and exhibit any motion picture or other production produced hereunder in all media now known or hereafter devised; (d) all rights to make any and all changes to ,and adaptations of the Work; (e) all merchandising, commercial tie-in, sound track, music publishing and exploitation rights; and (f) all other rights customarily obtained in connection with formal literary purchase agreements. Owner hereby waives and releases any and all “separated rights,” “moral rights,” rights to reversion of title to the ‘Work, and any other rights or claims which Owner may have or hereafter acquire in the Work. Nothing contained in this Agreement shall be construed as requiring Purchaser to exercise or exploit any of the rights granted to or acquired by Purchaser under this Agreement. Owner shall be entitled to the customary passive royalties should there be any remake, sequel or television movie, mini-series, pilot, series, or spin-off. Additionally, Owner shall have a turnaround or reversion rights to the original Screenplay if the motion picture is not produced within 5 years from the date of Purchase hereunder.
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