Option and Acquisition of Rights Agreement
Category: 270 Legal Recent Posts, Copyright, Entertainment Agreements, Film, Option, Screenwriting, Trademark Agreements
Re: “UNIQUE” / PLATINUM STUDIOS LLC / OPTION /ACQUISITION OF RIGHTS
Gentlemen:
Reference is hereby made to the agreement (”Agreement”) dated as of December 11, 2003, between WALT DISNEY PICTURES (”WDP”) and PLATINUM STUDIOS LLC (”Owner”) for WDP’s option to acquire all right, title and interest in and to the unpublished graphic novel written and owned by Owner entitled “UNIQUE” (formerly entitled “JAUNT”) in connection with a possible Motion Picture based thereon tentatively entitled “UNIQUE” (the “Picture”).
WDP shall have no obligation to perform pursuant to this side letter (”Side Letter”) unless and until: (i) WDP receives an executed original of this Side Letter and the Agreement, in form and substance acceptable to WDP and (ii) the Conditions Precedent set forth in Paragraph 1 of the Agreement have been satisfied.
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2. Reference is made to Paragraph 3.1.c. of the Agreement, which is hereby deleted in its entirety and replaced with the following new Paragraph 3.1.c.:
“c. Television Series.
(i) If either: (A) 25,000 or more units of the Property are sold as a graphic novel (provided that Owner submits documentation substantiating such amount in form and substance acceptable to WDP in its sole discretion) prior to commencement of principal photography of the Picture or (B) the Property is listed among the top 200 titles on ICv2’s Top 300 Comics Actual Index (www.lcv2.com) during any month prior to the commencement of principal photography of the Picture, and the Picture is produced and released as a feature-length Theatrical Motion Picture, then the following royalties are payable for each episode of a television series based upon the Picture, as produced for a particular broadcast season:
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Click here for the complete Option and Acquisition of Rights Agreement