Article 3-109-Sequel Payments Sample Clauses
Article 3-109-Sequel Payments defines the rules and procedures for handling payments that are made in a series or as follow-up installments under a contractual agreement. This clause typically outlines when and how subsequent payments are to be made after an initial payment, specifying due dates, acceptable payment methods, and any conditions that must be met for each payment. By establishing clear guidelines for sequel payments, the clause helps prevent disputes over payment timing and obligations, ensuring both parties understand their ongoing financial responsibilities.
Article 3-109-Sequel Payments. In the event the Employer produces a theatrical motion picture that is a sequel to a Picture covered under this Sideletter, the Employer will pay to the Director of the original 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 of the Sideletter, or $20,000 if the sequel theatrical motion picture is produced at Level 4 of the Sideletter, provided:
a. that the original Picture and the sequel are produced by the same Employer;
b. that principal photography of the original Picture commenced on or after July 1, 2020; and
c. that the sequel is based on an original screenplay that utilizes the leading character or characters of the original 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 Picture also directs the sequel, the amount payable pursuant to this paragraph 4.A.10 shall be credited against the compensation payable to the Director for the sequel.