Stock Option Agreement Document For Screenplay
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How to fill out Stock Option Agreement?
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FAQ
As a rule of thumb options are often 10% of the full purchase price, but the amount is negotiable. Sometimes sellers are willing to give a "free" option or an option for a nominal sum (e.g., "for ten dollars").
The option price is the initial sum of money offered to acquire the rights and keep the screenplay off the market. This is traditionally 10% of the purchase price. You keep the option fee regardless of whether the interested party ultimately acquires the screenplay.
An ?option? or ?option agreement? is a contract between a screenwriter and a producer that essentially ?rents? the rights to take the screenplay off the market as the producer attempts to develop it for film production during an agreed-upon time.
An option agreement is made between a writer and a producer and grants the producer an exclusive option to buy the rights in the writer's work. A ?shopping? agreement allows the producer to represent the work but gives the producer fewer rights than an option and typically lasts for a shorter period.
A screenplay option is an agreement between you and another party in which you grant them sole rights to your script during the period dictated in the agreement; this usually ranges from six months to a year (although some option agreements can be for as long as eighteen months or the time can be extended).