Writers business agreement/need legal advice please

A

angelo

Hello Forum...

Here is our situation. Our company has recently written a script that has an Oscar winner attached. We are trying to get private financing to make the film. Someone (have intentionally removed last name for his privacy etc.) is interested but it is not clear as to what they can actually do. We will talk tomorrow to him. Below is the agreement he wants us to sign. I am trying to find out if this is a standard deal in filmmaking or if his rates/requests are unreasonable. Please respond if you have legal knowledge on the matter and not just an "opinion" though I value both. I am mostly concerned with his % rate as it seems high to me. Also he wants a % on 2 future projects it seems that he has nothing to do with...is that normal? Initially I wanted to talk to this guy about investing, but it seems like he wants to take the role of agent/manager? I am not sure exactly. Also, please respond if you know what a typical "investment deal" would be like. Our intended budget is about 3M. Let's say somebody (one or more parties put up the funds at a minimum of 100K blocks); what percentages does everybody get? How is it usually broken down? How much of the % do we keep and how much goes to investors and distributors in typical deal?? Any info/help would be appreciated. Please look at his proposed "contract" below. Again, if this is standard and typical, by all means let me know...thanks for any info you send....

Business Agreement

This agreement between “WRITER” and Greg states the following:

Greg has permission from “WRITER” to inform and notify any producers, literary agents, and/or film executives of the volume and content of work “WRITER” has created.

Any producers, literary agents and/or film executives that Greg introduces to “WRITER” that directly leads to a production deal and/or film option Greg shall receive 15% (fifteen percent) of said option deal and/or payment directly related to that contact. Another 15% (fifteen percent) of the next two production deals that “WRITER” acquires directly through the initial contact provided by Greg, will be paid to Greg.


Both parties have agreed to the terms of this contract.


Name ______________________ Name_________________________



Signature _________________________ Signature______________________



Date____________________________ Date__________________________
 
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According to this contract, if Greg introduces you to an
agent and the agent sells the script Greg gets 15% of
the sale AND 15% of the next two sales the writer makes.

If Greg introduces the writers to a producer and the
producer passes but introduces the writers to another
producer who options the script, Greg gets 15% of that
option (and sale if it happens) PLUS 15% of the next two
sales the writers make.

If Greg introduces the writers to a "film executive" (with
no definition of what that exactly means) and that film
exec send the script to a producer who options the script,
Greg get 15%. If nothing ever happens - the script isn't
sold or made - but the writer makes a production deal as
a director five years down the line, Greg gets 15% of that
deal.

If your company (by which I suspect you mean a couple
of writers) need Greg so much that you are willing to tie
yourself to him for your next two projects and the guy can
deliver what you cannot, this is a great deal.

Is this something you need to do to get your first project
off the ground?
 
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thanks for responding directorik. I wrote back to the guy and said i'm not interested in signing the doc. Does not sound right to me. We want funds, not reps etc. We're not looking to sell the script. And the fact that the wording is so vague etc. and he wants cuts on future projects seems whacky to me. Also asked him to prove what he can do etc....
 
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Angleo,
I think it depends on how attached the Oscar winner is, and if they will commit to your project in writing- then you have a bankable A-list actor (in writing) to use to raise funds. Also what their fee will be. If they love your script and will work on a SAG minimum then keep your budget low and raise the monies yourself. It's hard to raise money these days unless you have a long tract record of profitable films. We just raised money for a small genre film and it was one of the most challenging things professionally I've ever done. I would take Blade's advice and find an
 
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