Script Option Agreement

Writer: [Name] · Producer/Company: [Name] · Script/Property: [Title] · Date: [Date]

1. Grant of Option

Writer grants Producer the exclusive option to acquire the motion picture/television rights to the script described above, for a period of [Duration, commonly 12-18 months].

2. Option Fee

Producer pays Writer an option fee of [Amount] upon signing, [credited toward the purchase price / non-refundable and separate from the purchase price] if the option is exercised.

3. Purchase Price (Upon Exercise)

If Producer exercises the option, Producer will pay Writer the full purchase price of [Amount / a formula based on final budget, e.g. "2.5% of the approved production budget, with a floor of $[Amount]"].

4. Extension

[ ] Producer may extend the option for an additional [Duration] by paying an additional fee of [Amount].

5. Writer's Services (if applicable)

[State whether Writer is engaged to write additional drafts/rewrites during the option period, and separate compensation for that work.]

6. Credit

If produced, Writer will receive credit as [e.g. "Written by [Name]" or "Based on the screenplay by [Name]"], per the terms of any applicable guild agreement (e.g. WGA).

7. Reversion

If the option expires without being exercised, all rights revert fully to Writer, who keeps the option fee(s) already paid.

Writer: ______________________ Date: ____________ Producer/Company: ______________________ Date: ____________

*This document is provided for informational and educational purposes only and does not constitute legal advice. An option fee is typically much smaller than the eventual purchase price — it buys the producer TIME to secure financing and attach talent, while the writer's real payday depends on whether the option is actually exercised, which most options never are.*