This agreement, dated as of June 16, 2010, by and between Full Fathom Five andDesperate MFA Student (hereafter referred with sarcasm as “Writer,” is in connectionwith: engagement of Writer on the writing of the initial book in a possible series of books based upon a story idea owned by Company currently entitled “Untitled MoneymakingScheme Aimed at the Young Adult Market.” In consideration of the compensation setforth in this agreement, each of Company and Writer agree as follows:
1. Engagement / Services.
Company hereby engages Writer on a work-for-hire basis,under the supervision of and in collaboration with Company, to write an outline of theBook and any revisions to the Book as requested by Company. Writer will incorporateinto the Book all notes, instructions, additions and/or changes as Company may request,including but not limited to requests to add More Bad Ass Weapons.
Provided Writer is not in material breach or default, Writer shall beentitled to the following:
2.1 Writing Fee.
Two Hundred Fifty Dollars ($250, hereafter referred to as “Peanuts”) payable upon delivery of the final version of the Book, as approved by Company.
Forty Percent (40%) of all money derived from theexploitation of rights to the Book as a published book, film and/or television project,video games, and merchandise including Happy Meal toys, trading cards, those stupidsilly band things, and perishable food items.
Company shall determine, in its sole discretion, all matters pertaining tocredits on the Book. For the avoidance of doubt, Company may use one or more fictitiousnames on the Book as publicly released. The Company resevers the right to publiclydegrade and humiliate the Writer by calling him or her names, such as “Numb Nuts” or “Turd Monger.”
3. Delivery Dates.3.1
Writer shall deliver the Outline no later than July 17, 2010.
Writer shall deliver the Initial Draft (of no less than 50,000 words) no later than July18, 2010.
Mr. Frey will review the Initial Draft and provide Notes for Revisions within 48hours. Yes, he reads fast. Writer may have the weekend off while Mr. Frey uses hissuperior intellect to inspect the Initial Draft.
Writer shall incorporate all Notes and deliver the Final Draft (of no less than 50,000words) no later than July 15, 2010. Skeptical eyes may notice that this date appears to be prior to the signing of this agreement. That is correct. It is up to the Writer to find a way