TERM SHEET FOR A MULTI-PICTURE DIRECTOR AGREEMENT
EX-10.1 2 exhibit_10-1.htm TERM SHEET FOR A MULTI-PICTURE DIRECTOR AGREEMENT BETWEEN MJW MEDIA, INC. AND NICK CASSAVETES DATED JUNE 28, 2018. Blueprint
Exhibit 10.1
TERM SHEET FOR A MULTI-PICTURE DIRECTOR AGREEMENT
June 28, 2018
| MJW Media, Inc. | Nick Cassavetes |
1166 E Warner Rd #101-B
Gilbert, AZ 85296
The following are the terms and conditions for a multi-picture Director Agreement between MJW Media, Inc., Producer and Nick Cassavetes, Director.
| 1. | Term: | Six Years | |
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| 2. | Number of film productions during term: | Five | |
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| 3. | Director Compensation: | a. | $250,000 paid by Producer on January 2nd each of the next five years for development and other work towards the film production. |
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| | | b. | Director fee on each film production no less favorable than that of the film known as The Manuscript. |
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| | | c. | Escondido Innovations, Inc. stock option awards each January 2nd upon completion of principal photography, for 250,000 shares each of years, for five years. |
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| 4. | Choice of production and creative control: | Mutual agreement between Michael Witherill and Nick Cassavetes on choice of production with Nick having creative control. | |
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| 5. | Long Form: | MJW Media, Inc. and Nick Cassavetes will enter into a long form agreement based around the terms contained in this Term Sheet. The terms outlined herein are binding. | |
| Agreed and Accepted: | |
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| MJW Media, Inc. | Nick Cassavetes |
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| By: /s/ Michael Witherill | By: /s/ Nick Cassavetes |
| Michael Witherill, CEO | |
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