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Exhibit
10.67
CO-DEVELOPMENT
AGREEMENT
This agreement
(“Agreement”) is entered into as of 2 April 2008,
by and between Fuqua Films, Inc. f/s/o Antoine Fuqua, (“Fuqua
Films”) and Public Media Works, Inc.
(“PMW”).
(a) The parties hereby enter
into this Agreement to develop, produce and exploit an original
feature length motion picture (“Picture”) based on the
book “Without A Badge” by Jerry Speziale and Mark Seal
and the life story rights of Jerry Speziale (collectively, the
“Rights”). For purposes of this Agreement, the Rights
shall be deemed to include the “Rights” and the
“Life Story Rights” as such terms are defined in the
Option Agreement, and any and all other rights granted to Fuqua
Films in the Option Agreement, as may be revised or
amended.
(b) The parties further agree
to option the rights in accordance with the terms of the Option
Purchase Agreement-Life Story-Consultation Agreement (“Option
Agreement”) between Jerry Speziale Consulting, LLC, f/s/o
Jerry Speziale and Fuqua Films, dated August 7, 2007, as
amended with the following modifications: the start date for the
option will be April 1, 2008; the option payment will be
$25,000; and the option terms will be 18 months. Despite the fact
that the Option Agreement will be in the name of Fuqua Films alone,
ownership of the Rights shall be jointly held by Fuqua Films and
PMW in equal, undivided 50/50 parts. The Option Agreement may not
be terminated, amended or modified without the prior written
consent of PMW.
(c) PMW is responsible for
payment of the $25,000 option payment, which amount shall be
reimbursed from the budget of the Picture or sooner by a third
party financier.
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CONTROLS AND AGREEMENTS: |
(a) It is understood that
Fuqua Films shall have control over all creative matters relating
to the development of the Picture. Fuqua Films agrees to fully
and
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