109 Sequel Payments Sample Clauses

109 Sequel Payments. In the event the Employer produces a theatrical motion picture which is a sequel to a theatrical motion picture covered under the DGA Low Budget Sideletter, the Employer will pay to the Director of the original theatrical motion picture, upon commencement of principal photography of the sequel theatrical motion picture, an amount equal to $10,000 if the sequel theatrical motion picture is produced at Levels 1, 2, or 3 above, or $20,000 if the sequel theatrical motion picture is produced at Level 4 above, provided: (1) that the original theatrical motion picture and the sequel are produced by the same Employer; (2) that principal photography of the original theatrical motion picture commenced on or after July 1, 2014; and (3) that the sequel is based on an original screenplay which utilizes the leading character or characters of the original theatrical motion picture in a substantially different story. Only one payment shall be due under this provision, irrespective of the number of sequel theatrical motion pictures produced. If the Director of the original theatrical motion picture also directs the sequel, the amount payable pursuant to this paragraph M. shall be credited against the compensation payable to the Director for the sequel.
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109 Sequel Payments. (a) In the event that the Employer produces a theatrical motion picture which is a sequel to a theatrical motion picture covered under this Agreement, the Employer will pay to the Director of the original theatrical motion picture an amount equal to $20,000 upon commencement of principal photography of the sequel theatrical motion picture, provided: (1) that the original theatrical motion picture and the sequel are produced by the same Employer; (2) that principal photography of the original theatrical motion picture commenced on or after July 1, 2008; and (3) the sequel is based on an original screenplay which utilizes the leading character or characters of the original theatrical motion picture in a substantially different story. (b) Only one payment shall be due under this provision, irrespective of the number of sequel theatrical motion pictures produced. (c) If the Director of the original theatrical motion picture also directs the sequel, the amount payable pursuant to subparagraph (a) hereof shall be credited against the compensation payable to the Director for the sequel.
Sample 1
109 Sequel Payments. (a) In the event that the Employer produces a theatrical motion picture which is a sequel to a theatrical motion picture covered under this Agreement, the Employer will pay to the Director of the original theatrical motion picture an amount equal to $20,000 upon commencement of principal photography of the sequel theatrical motion picture, provided: (1) that the original theatrical motion picture and the sequel are produced by the same Employer; (2) that principal photography of the original theatrical motion picture commenced on or after July 1, 2014; and (3) the sequel is based on an original screenplay which utilizes the leading character or characters of the original theatrical motion picture in a substantially different story. (b) Only one payment shall be due under this provision, irrespective of the number of sequel theatrical motion pictures produced.
Sample 1

Related to 109 Sequel Payments

  • Additional Payments If, for any taxable year, Executive shall be liable for the payment of an excise tax under Section 4999 and/or Section 409A or other substitute or similar tax assessment (the “Excise Tax”) of the Internal Revenue Code of 1986, as amended (the “Code”), including the corresponding provisions of any succeeding law, with respect to any payments or benefits under Section 9 of this Agreement or Sections 7 or 8 or any other provision of this Agreement, including but not limited to this Section 12 or under any benefit plan of the Company applicable to Executive individually or generally to executives or employees of the Company, then, notwithstanding any other provisions of this Agreement, the Company shall pay to the Executive an additional amount (the “Gross-Up Payment”) such that the net amount retained by the Executive, after deduction of the Excise Tax imposed on all such payments and benefits and of the federal, state and local income tax and Excise Tax imposed upon payments provided for in this Section 12, shall be equal to the payments and benefits due to the Executive hereunder and the payments and/or benefits due to the Executive under any benefit plan of the Company. Each Gross-Up Payment shall be made to Executive or as provided in Section 16 hereof, upon the later of (i) five (5) days after the date the Executive notifies the Company of its need to make such Gross-Up Payment, or (ii) the date of any payment causing the liability for such Excise Tax. The amount of any Gross-Up Payment under this section shall be computed by a nationally recognized certified public accounting firm designated jointly by the Company and the Executive. The cost of such services by the accounting firm shall be paid by the Company. If the Company and the Executive are unable to designate jointly the accounting firm, then the firm shall be the accounting firm used by the Company immediately prior to the Change in Control.

  • Settlement Payments A. Unless the Court orders otherwise, each Participating Class Member will receive an equal, pro-rata portion of the Net Settlement Amount. The “Net Settlement Amount” is the Settlement Amount (plus any accrued interest thereon) reduced by any sums awarded by the Court for attorneys’ fees, litigation expenses, service payments, and all expenses of settlement administration (including expenses previously incurred and the Settlement Administrator’s good faith estimate of future expenses to be incurred). The pro-rata share of each Participating Class Member shall be computed by dividing the Net Settlement Amount by the number of Participating Class Members. B. As soon as practicable after the Effective Date, the Settlement Administrator will transmit to each Participating Class Member that person’s settlement payment, which may be in the form of a check or an electronic payment such as Venmo, direct deposit/ACH, or PayPal. The settlement payment will be accompanied by a statement that the Participating Class Member should consult his or her tax advisor regarding the tax consequences of the settlement payment. In the event any check is returned to the Settlement Administrator as undeliverable, or in the event any electronic payment is unable to be processed, the Settlement Administrator will attempt to contact the Participating Class Member by telephone or email or perform a skip trace to attempt to locate a current address or other relevant information necessary to re-issue payment. Any payment instrument not negotiated within ninety (90) days of its mailing or other transmission by the Settlement Administrator will be void. Any portion of the Settlement Amount, including accrued interest, that remains unpaid at the end of such ninety-day period will be paid to one or more cy pres recipients mutually proposed by the Parties and approved by the Court, unless the Court orders otherwise.

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