Payment Schedule

First Payment Due upon acceptance of project: 50% of Total

Second Payment Due upon completion of project: 50% of Total

Article 1: Parties to the Agreement

AGREEMENT as of October 12th, 2024, between Client, and Production Company, for the production of client's video, in accordance with the terms and conditions specified in this agreement.

Article 2: Application of the Agreement

Parties shall be bound by the terms and conditions expressly stated in this Agreement. Any additional terms or conditions not contained in the Agreement must be expressly agreed to by both parties in the form of a written and signed Amendment to the Agreement.

Article 3: Additional Services and Overtime

Any work, which the Client desires Production Company to perform, which is not specified in the Work Specifications, such additional services shall be by separate agreement between the parties. Our full day rate is based on an 8-10 hour day. After 10 hours overtime will be accrued and invoiced accordingly

Article 4: Ownership and Storage of Video Assets

A. Unless otherwise specified, all rights in the Intellectual Property, including copyrights, shall initially be owned exclusively by Production Company. Upon final payment, Production Company shall assign its copyright interest and other intellectual property rights which have been incorporated into the Final Product in the form provided as the Final Product to Client, subject to the grant of a license back to Production Company for its use in creating derivative works for Client and in the advertising and promotional literature, whether print, web, or video based, of Production Company and its affiliates and subcontractors.

B. Production Company will delete all project files after 90 days from the date the project has been completed unless alternate arrangements have been made to archive the footage for a longer term.

Article 5: Cancellation and Postponement

A cancellation or postponement is defined as a rescheduling of the production to a later specific date caused or directed by Agency/Client or a total cancellation of the project. If the Production Company blocks out a specific period of time with the agreement that it represents a firm commitment from the Contracting Client, then the Production Company makes no further efforts to sell the time. If the job is canceled or postponed within the Guideline time frame, it is unlikely that this time can be rebooked. It should be understood that this time represents the Production Company's only source of income.

A. If notice of cancellation/postponement is given to the Producer ONE TO TEN WORKING DAYS prior to the commencement of the shoot, the Contracting- Client will be liable to the Production Company for: 1. All out-of-pocket costs. 2. Full production fee on the job as bid.

B. If notice of cancellation/postponement is given ELEVEN TO FIFTEEN WORKING DAYS prior to the commencement of the shoot, the Contracting- Client will be liable to the Production Company for: 1. All out-of-pocket costs. 2. Not less than 50% of production fee on the job as bid.

C. If notice of cancellation/postponement is given MORE THAN FIFTEEN WORKING DAYS prior to the commencement of the shoot, the Contracting-Client will be liable to the Production Company for: 1. All out-of-pocket costs. 2. Not less than 25% of production fee on the job as bid.

Article 6: Indemnity

Client guarantees to Production Company that all materials provided to Production Company are in compliance with appropriate copyright laws. The Client agrees to indemnify and hold harmless Production Company against any and all claims, costs, and expenses, including attorney's fees, due to materials included in the Work at the request of the Client for which no copyright permission or previous release was requested or uses which exceed the uses allowed pursuant to a permission or release.