Film Rights Acquisition Agreement

Exercise an option to acquire the rights to an original screenplay with this Film Rights Acquisition Agreement.

• The option is being exercised by the film producer in accordance with an earlier Option Agreement between the screenplay owner and the film producer.
• The screenplay owner grants the film producer the right to produce one or more motion pictures from the work, to adapt the work for the screen, to exploit and publish the work, record a sound track, assign or license the rights, exercise distribution rights, and to make prequels and/or sequels using the same characters.
• The film producer also has the right to register worldwide copyright with respect to all motion pictures and products created from the screenplay.
• The screenplay 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.