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Executive Producer Agreement
Executive Producer Agreement
This Agreement is made as of this the 10th of July 2021, by and between Davinci
Cinema, an Ontario, Canada corporation (herein referred to as “Production
Company") and Lou Tucci (herein referred to as the “Executive Producer") regarding
an investment in a television travel series, tenatively entitled, “Cuba
Unplugged” (wherein referred to as “the Project”), in consideration for acquiring the
right to share in the equity of said Project to be produced by the Production
Company.
(b) Third Party Profit Participations: The Production Company shall be free to grant
additional profit participation interests to such third parties as it might elect by
first obtaining the Executive Producer's consent thereto, provided, that no such
grant of profit participations may in any way adversely affect the Executive
Producer's profit participations described in sub-paragraphs (a) and (b) above.
(a) Production Controls: Pursuant to the guaranty to complete the Project’s sizzle
Reel, Executive Producer shall have the right to Complete and Deliver the Project,
or to procure the Completion and Delivery of the Project by any other person or
company if the Producer shall fail to do so; and if Production Company fails to
Complete and Deliver the Project by the indicated completion date contained herein
in this Agreement. Moreover, Executive Producer shall have the right and authority
to recoup such additional funding to complete the Project and/or reduce the
Operating Funds or Budget of the Production Company in the Project, as is needed,
in order to complete the Project for delivery and Distribution.
12. Funds Held in Trust: All monies received by the Production Company which
are payable to the Executive Producer in accordance with the provisions of this
Agreement shall be held by the Production Company, in trust, for the sole use and
benefit of the Executive Producer and shall be immediately deposited upon receipt
in a separate interest-bearing bank account naming the Executive Producer as the
beneficiary thereof. The Production Company shall not commingle the monies
payable to the Executive Producer hereunder with other monies of the Production
Company.
15. Additional Documents: Each of the parties agree to execute any additional
documents which may be required or be desirable to fully effectuate the purposes
and intent of this Agreement or to carry out the obligations of the parties
hereunder, provided that they are not inconsistent with the provisions of this
Agreement.
16. Notices: All notices hereunder shall be in writing and shall be served by
personal delivery to the Executive Producer or the Production Company, as the case
may be, or by registered or certified mail, return receipt request. Any party may
change its address at any time by written notice to the other parties.
17. Assignment: No party hereto shall have the right to assign all or any part of its
right or obligations hereunder without the prior consent of the other party, except
that nothing contained in this sentence shall prevent any party from assigning its
right to receive monies hereunder.
18. Miscellaneous: (a) This Agreement may not be modified except by written
agreement signed by each of the parties hereto.
(b) This Agreement shall in no event be construed as a third party beneficiary
contract and is not intended for the benefit of any person or company whomsoever
except the parties hereto.
(c) No waiver by one party of a breach or default by the other party shall be deemed
to be a waiver of any preceding, continuing or succeeding breach of the same or any
other provision of this Agreement.
(d) Each party acknowledges that no representation or warranty not expressly set
forth in this Agreement has been made or relied upon by the other party, it being
agreed that this Agreement constitutes the entire Agreement of the parties
regarding the subject matter hereof and supersedes all prior Agreements with
respect thereto.
(e) This Agreement has been entered into in the Province of Ontario, Canada and
shall be construed and enforced under and subject to the laws of said Province.
19. Attorneys' Fees: In any action or proceeding between or among the parties
hereto to interpret or enforce any of the provisions hereof, the prevailing party
shall, in addition to any other award of damages or other remedy, be entitled to
reasonable attorneys' fees and costs.
WHEREFORE, the parties have executed this Agreement on the date first above
written:
Dated ____________
Dated _____________