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Book Option Agreement Template: What You Should Know

All rights, title, interest, and all profits arising out of the option shall belong to Owner. 2. EX OPT, THE LITERARY OPTION & PURCHASE AGREEMENT 2.1 Grant to Purchaser.  Owner grants to Purchaser an exclusively contractual and assignable, and irrevocable, worldwide, perpetual, nonexclusive right and license without prior written agreement or assignment to use, reproduce, publish, display or distribute the Property.  Owner hereby releases, assigns, and sub-leases without any compensation or royalties from Purchaser: 2.2 Exclusive Grant of Rights. Subject to, and without limitation, all existing and future rights and licenses conferred by Owner, the following rights and licenses shall exist: 2.2.1 to Use and Reproduce, in any form, any work published or published prior to the Effective Date.  Owner shall own all rights and title to any and all such other works. Purchaser shall have exclusive right to sell, license, sub-license, copy, modify, adapt, edit, perform or display this work, in whole or in part, in any manner or form or media. Purchaser shall have the right to create derivative works, such is to sell, sub-license, copy, distribute or otherwise exploit, any derivative works based upon the same or the same as the original work. (See Section 3.3.) Purchaser shall have the right to perform as the Principal or a Company, in the sole and absolute sense of the word, any act of production, including but  not limited to editing, composing, directing, producing, orchestrating, recording, lighting, sound engineering, design and other performance aspects of the Film, regardless of whether produced or produced independently. Purchaser shall have the right to take the film into any format or form of media, including film, film negatives, slide film, motion picture prints, audio, music, art, music videos, television and other media to which it has license; Provided, however, that when the Film, or any of its performance features, is performed on stage or film, the performance shall be limited, if necessary, to the specific medium of the stage, or film.

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