Hi all,
My first post, and I sure would appreciate some guidance.
I have had an offer from a small production company to option my feature length screenplay. I've spoken to them, I like them, and thanks to a reasonable track record they have getting a few movies outinto distribution, I trust their ability to get mine out there.
The "but" in all this is the offer I've got on the table.
First some info about me: This is my first screenplay, I have no previous credits, and my honest objectives are only a) to see my script in film and b) use that as an entry for bigger and better things I have with other scripts in development.
That said I don't want to get bent over first time out. Here are the terms and my thoughts:
1) Movie budget in the $2-3M range
2)1 year option for $10 (yes ten dollars). I am in no doubt where I stand on this one, but my first timer's instinct tells me that asking for 10% of purhcase price would be too aggressive.
3) Purchase price of 1.25% to 3.25% of production budget. This is probably where I can use most help. The production company are telling
me that they can't commit to an actual % until they go through negotiations with the studio etc who will provide financing and that they will try to get as much as possible. This seems like BS to me. Try usually means will fail in my opinion but would appreciate the views of others. I don;t understand why a studio should impact my relationship with the producer and I;m nervous at having a range laid out in a contract.
4) Contingent compensation of 1.5% of net proceeds... this seems OK
although I've heard that this industry is very good at creative
accounting to avoid showing too many net proceeds.
That's it. I can't afford a lawyer, and I'm having a lot of problems balancing between being too greedy for a first timer and being a pushover. The script has done well in competitions and while it's not my best work, the production compay seems to like it a lot (they say, without backing that up with a decent contract!)
Has anyone had any similar experiences?
Thanks! Sandy Mackinny.
My first post, and I sure would appreciate some guidance.
I have had an offer from a small production company to option my feature length screenplay. I've spoken to them, I like them, and thanks to a reasonable track record they have getting a few movies outinto distribution, I trust their ability to get mine out there.
The "but" in all this is the offer I've got on the table.
First some info about me: This is my first screenplay, I have no previous credits, and my honest objectives are only a) to see my script in film and b) use that as an entry for bigger and better things I have with other scripts in development.
That said I don't want to get bent over first time out. Here are the terms and my thoughts:
1) Movie budget in the $2-3M range
2)1 year option for $10 (yes ten dollars). I am in no doubt where I stand on this one, but my first timer's instinct tells me that asking for 10% of purhcase price would be too aggressive.
3) Purchase price of 1.25% to 3.25% of production budget. This is probably where I can use most help. The production company are telling
me that they can't commit to an actual % until they go through negotiations with the studio etc who will provide financing and that they will try to get as much as possible. This seems like BS to me. Try usually means will fail in my opinion but would appreciate the views of others. I don;t understand why a studio should impact my relationship with the producer and I;m nervous at having a range laid out in a contract.
4) Contingent compensation of 1.5% of net proceeds... this seems OK
although I've heard that this industry is very good at creative
accounting to avoid showing too many net proceeds.
That's it. I can't afford a lawyer, and I'm having a lot of problems balancing between being too greedy for a first timer and being a pushover. The script has done well in competitions and while it's not my best work, the production compay seems to like it a lot (they say, without backing that up with a decent contract!)
Has anyone had any similar experiences?
Thanks! Sandy Mackinny.
