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Option / Purchase Agreement

Fill in the details and generate a ready-to-review agreement.

Who It's For

  • Producers optioning a script, book, article, or true story.
  • Writers, authors, and rights-holders granting those rights.
  • Anyone adapting material they don't yet own.

What It's For

  • Secures the rights to a story before you commit to buying them.
  • Reserves it now, with the purchase price agreed up front.
  • Grants the exclusive right to develop and pitch the project.

Parties

Property

Option Terms

Purchase Terms

Rights & Credit

Governing Law

The jurisdiction whose laws govern this agreement — usually where your company is formed (e.g., California, New York, Delaware). Not where you film.

OPTION AND PURCHASE AGREEMENT

This Option and Purchase Agreement ("Agreement") is entered into as of [effective date] by and between [owner name], located at [owner address] ("Owner"), and [producer name], located at [producer address] ("Producer").

1. PROPERTY. Owner represents that Owner is the sole owner of all right, title, and interest in and to the Screenplay titled "[property title]" (the "Property"), further described as: [property description].

2. GRANT OF OPTION. Owner hereby grants to Producer the exclusive and irrevocable option (the "Option") to acquire the motion picture and allied rights in and to the Property, for an initial period of 12 months commencing on the Effective Date (the "Option Period").

3. OPTION FEE. In consideration of the Option, Producer shall pay Owner [option fee] upon execution of this Agreement. Such sum shall be applied against the Purchase Price upon exercise.

4. EXTENSION. Producer may extend the Option Period for one additional period of 12 months by paying Owner [extension fee] prior to the expiration of the initial Option Period.

5. EXERCISE OF OPTION. Producer may exercise the Option at any time during the Option Period (as extended) by written notice to Owner.

6. PURCHASE PRICE. Upon exercise of the Option, Producer shall pay Owner a purchase price of [purchase price] (the "Purchase Price").

7. RIGHTS GRANTED. Upon exercise, Owner grants and assigns to Producer, throughout Worldwide and in perpetuity, the following rights in and to the Property: all motion picture, television, streaming/VOD, and allied, ancillary, and subsidiary rights.

8. RESERVED RIGHTS. Owner reserves the following rights: publication (print) rights, live stage rights, and radio rights are reserved to Owner.

9. CREDIT. Producer shall accord Owner the following credit: [credit].

10. WARRANTIES. Owner warrants that Owner has the full right, power, and authority to enter into this Agreement and to grant the rights herein, and that the Property does not, to Owner's knowledge, infringe upon the rights of any third party.

11. ASSIGNMENT. Producer may freely assign this Agreement to a production entity, financier, or distributor, provided such assignee assumes Producer's obligations.

12. GOVERNING LAW. This Agreement shall be governed by and construed in accordance with the laws of the State of California.

13. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between the parties and supersedes all prior understandings.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.

OWNER: ______________________________ [owner name]

PRODUCER: ___________________________ [producer name]

TEMPLATE ONLY — NOT LEGAL ADVICE. Consult a qualified entertainment attorney before executing this or any agreement.

Filmmaker Genius — Document Library. Template only; not legal advice.