AGREEMENT
Agreement made as of the 10th day of February, 1998 by and between
TWIN FACES ENTERTAINMENT EAST (XXXXXXX XXXXXXXXX) hereby noted as "The
Producer" and UPRISE ENTERTAINMENT (XXXXXXX XXXX) hereby noted as "the
Company".
"The Producer" is willing to provide funds in the amount of $505,000
to "The Company" for the production of the script "A REAL MAN" written by
the "The Company". The script will be made into a feature film by "The
Company". Terms and conditions to be set forth in this Agreement.
In consideration of the mutual promises and agreements of the parties,
they hereby agree as follows:
1. A feature length film is an edited copy of a professional quality film
that is suitable for distribution to exhibitors for audience viewing.
The terms of this agreement for providing funds based on the
attached budget and draw down schedule (noted as the A page) are
as follows:
A. Start up funds of $55,000 from the budget for the items attached on
the A page will be made available as funding is received by TWIN FACES
ENTERTAINMENT EAST. The remaining funds from the budget totaling $450,000
will also be made available as funding is received by TWIN FACES
ENTERTAINMENT EAST.
B. All funds from TWIN FACES ENTERTAINMENT EAST will be wire transferred
into the account(s) of UPRISE ENTERTAINMENT ("The Company"). Funds can be
made available by check if both parties agree.
2. Compensation to TWIN FACES ENTERTAINMENT EAST will be as follows: TWIN
FACES ENTERTAINMENT EAST will get 60% of the domestic box office receipts.
UPRISE ENTERTAINMENT will get 40% of the domestic receipts. Once TWIN
FACES ENTERTAINMENT EAST has recouped the budget amount of $505,000 from
the box office, then TWIN FACES ENTERTAINMENT EAST will receive 40% of the
box office receipts and UPRISE ENTERTAINMENT will get 60% of the box office
receipts. Box office receipts being all sales at the domestic box office
for this film.
TWIN FACES will also receive 40% of all monies from TV sales,
ie., HBO, Showtime and music rights, etc.
3. This agreement shall go into force upon the signing of this contract
by both parties. TWIN FACES ENTERTAINMENT EAST will do all things
necessary which will enable all funds to be available within a reasonable
time frame.
4. Both parties agree not to circumvent or attempt to circumvent either
of the parties in any manner whatsoever, now or in the future. No party to
this transaction will attempt to contact, deal with in any manner or
solicit the client or business contacts of the other party at anytime. All
information pertaining to this deal, including both parties banks, bank
officers, trust officers or any other individuals or entities pertaining to
this agreement. All information is reserved for the parties in this
agreement.
5. This contract may not be produced. However, if changes need to be
made in this contract, both parties must agree to the changes. All changes
must have the initials of both parties by the provision being changed.
6. This contract is binding provided it is signed by both parties and
notarized.
7. Any and all arbitration/court proceedings shall be held in New York
City, in the state of New York governing laws.
8. Both parties are clear and understand that this document doesn't have
to have the signature of any witnesses as long as the document is signed by
both parties.
9. This agreement contains the entire and full understanding existing
between the parties as of the date of it's execution regarding the subject
matter contained herein. It is further agreed that financial
accountability will be provided by UPRISE ENTERTAINMENT. All former
representations, promises, covenants whether written or oral are null and
void. The parties agree, execute and acknowledge the terms set forth
herein. Best intentions do not work in contract procedure and performance.
Understand that this is a full recourse contract.
ACCEPTED AND AGREE BY
TWIN FACES ENTERTAINMENT EAST (THE PRODUCER)
s/Xxxxxxx Xxxxxxxxx
--------------------------
ACCEPTED AND AGREED BY
UPRISE ENTERTAINMENT (THE COMPANY)
s/Xxxxxxx Xxxx
-------------------
"A" PAGE (1) DRAW DOWN
PREPRODUCTION BUDGET
1. SCREENPLAY 15,000
2. PRODUCER & STAFF 12,800
3. CASTING AGENT 3,200
4. PUBLICITY 10,000
5. STILL PHOTOGRAPHER 2,500
6. TRANSPORTATION 5,850
7. INSURANCE 5,000
8. MINNY CAM 350
9. MISC. 300
PREPRODUCTION TOTAL 55,000
