Common use of Development of the Program Clause in Contracts

Development of the Program. During the Development Period: (i) initially, the Producer will film the Artist in the rehearsal studio and other locations and will use this footage and/or other footage to create a short promotional film (Promotional Reel) for use in the further development and promotion of the Program in accordance with the budget which is attached as Annexure B (Preliminary Budget); (ii) the Producer, Artist and Agents agree that copyright in that Promotional Reel will be owned 50% by the Producer and 50% by the Agents; (iii) the Producer will then further develop the Program, together with, in consultation with the Agents, preparing a final budget for the Program (Budget), to incorporate the Preliminary Budget, which Budget shall include a production fee payable to the Producer equal to 15% of the total Budget;