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I signed an option for a movie with a similar budget (around 100k). It was 3% upfront and 3% back end.
As Phil says above - I also received first credit in the contract and I also added first right of refusal for any additional rewrites (in otherwords, they couldn't go anywhere else for a rewrite without asking me first).
Looks like we have a deal. They are sending me a contract tonight. Thanks for your input. It helped me form my terms.
Some things will be changed with the script as there are some plot holes....The main character's age will be changed too so that he has just graduated from law school.
They have already started a script breakdown and actors have been attached!!!! Some name actors I'm told, but that means nothing to me since I'm sure I would never have heard of them.They are working fast. I didn't know. They want it finished by April. They just got one of there other projects into Wal-Mart which means a minimum of 200 000 copies. That's apparently big and I remember that from the documentary I worked on, Women With Wings. If you can get your stuff into Wal-Mart or Target you're doing good. They also have Video On Demand distribution deal for the feature. We'll see how it turns out. Might be a big pile of crap in the end, but I'm celebrating tonight because even if the dollar amount is low, it's my first where I actually got paid.
Kevin, I think they found it here and that lead to them finding my website. I would say 90% of my scripts being produced have been found at SS. Probably more people look at this place than most think.
E.D. Wal-Mart sells 60% of all DVDs in this country...
Not Hollywood, but I've always known I was better suited for the cheap bargain basement.
Forgot to mention, they already have a shooting date! 12/28/2011.
The other writer scenario's not all that unusual. As far as the credits go, if they go through everything the proper way, it would be subject to WGA arbitration, and any subsequent writers after you would have to do a significant amount of work to get credit, let alone bump you out completely.