Option Agreement Template: this agreement enables the producer to acquire an option over a work to secure exclusive rights to develop the work for the purposes of adapting it for the screen. Last updated Dec 2021.
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This note gives advice and suggestions as to the clauses to be considered for an options agreement for production companies who wish to take an exclusive option, over a specific period of time, to develop a literary work for the purpose of adapting it for cinema or TV.
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In response to the suspension of all drama productions, Pact and Equity have come together to agree an alternative option to the second call and first call payments detailed under Clause T45 of the Pact Equity TV Agreement 2019.
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