Unsolicited Material Policy
Magnificent Pictures LLC does not accept and/or review unsolicited material of any kind. Magnificent Pictures LLC and its staff are engaged in the creation and development of many creative properties and materials and this policy is to avoid any misunderstandings or disputes related to material that may seem similar to those ideas developed internally by Magnificent Pictures LLC. Magnificent Pictures LLC is not obligated to maintain any unsolicited material in confidence, unless a binding non-disclosure agreement or confidentiality agreement applicable to such unsolicited material is executed by the parties. Magnificent Pictures LLC will consider any unsolicited material to be non-confidential and non-proprietary. Magnificent Pictures LLC shall have no obligations concerning the unsolicited material, contractual or otherwise, and shall not be liable for any use or disclosure of any unsolicited material.
Fee Policy:
Executive Producer(s), Producer(s) & Director(s) Professional Fees Are Determined On Per Project Basis. Professional Fees must be met. The National Code Of Fair Practice As Recognized By The American Federation Of Labor And The Congress Of Industrial Organizations. Request to begin start of a professional service to be rendered orally shall be deemed the same as an expressed or written agreement, further the client agrees the same terms and conditions shall apply to all current professional standard entertainment agreements for all trades, unions or guilds related to Executive Producer(s), Producer(s) & Director(s) services. Magnificent Pictures LLC, is unalterably opposed to any production company(s), producer(s), or individual(s) asking Magnificent Pictures LLC, to work “ON SPECULATION” because of the inherent risks to the corporation in such circumstances Production Companies, Producers, or Individuals should not ask Magnificent Pictures LLC, to permit work on a project unless a fee has been agreed upon in advance.
Ethical & Unethical Pratices:
Magnificent Pictures LLC, must be equitably compensated at any time they are requested for any one, or combination of Professional Services to be Rendered with Consultation for; Development, Pre-Production, Production, Post Production, Distribution, Exhibition or any other prorated services. Working on speculation without a payment commitment by a production company(s), producer(s), or individual(s) places all the risks on Magnificent Pictures LLC, It is therefore considered an unethical practice, for example, for a production company(s), producer(s) or individual(s) to be in the position of deciding only upon completion of Professional Services Rendered whether or not to compensate Magnificent Pictures LLC. Payments in advance should be provided. Payment in advance allows Magnificent Pictures LLC to recoup expenses and to manage the financial demands of Magnificent Pictures LLCin a more timely and realistic fashion. Similarly, in cancellation resulting from a production company(s), producer(s), or individual(s) decision, cancellation fees must be paid at all times to compensate Magnificent Pictures LLC for Professional Services Rendered or to be Rendered for time, effort and expenses. However, when Magnificent Pictures LLC produces a production on their own initiative and then seeks to sell it to a buyer for speculative marketing, it is considered ethical speculation and not in violation. When Magnificent Pictures LLC is in this type of situation, a contract would be executed and signed by both parties arranging and agreeing to royalty and/or profit sharing thus a mutual risk participation would take place. The compensation to both parties is “speculative” that is, the compensation to both parties being dependent on the market response to their production or product. Magnificent Pictures LLC considers it to be “unethical” for production company(s), producer(s), or individual(s) to inquire, consult, or conspire, to undermine the integrity of Magnificent Pictures LLC its staff or sub contractor(s) or other professional industry related personnel working on a Magnificent Pictures LLC intellectual property or project.
Special Notice"
The Professional Rate Formula takes into consideration factors that make up overheads for Development, Pre-Production, Production, Post Production, Distribution, Exhibition and other professional services related to a production(s), product(s), or job(s). When a production(s), project(s), or job(s) is being considered, it is important to understand that prorated services, per diems(s) and technical equipment, consultation or any other services performed are to be billed above and beyond the cost of Professional Services to be Rendered Rate Formula(s). The production company(s), producer(s) or an individual(s) have the option of figuring out a solution that could mean reduced Professional Services mentioned above making the production(s), product(s) or job(s) more profitable, if and only if it is agreed upon in writing by both the produc¬tion company(s), producer(s) or an individual(s) and Magnificent Pictures LLC prior to the engagement. Magnificent Pictures LLC may reject a production, project, or job because the fee for professional services is too small. Magnificent Pictures LLC considers it to be good business to commit a production company(s), producer(s) or an Individual(s) for a professional service described with a predetermined estimated fee in advance, including a security deposit. Thus, when production com¬pany(s), producer(s) or an individual(s) obligates themselves either orally or under written agreement, thus it binds a production company(s), producer(s), or an individual(s) to the predetermined estimated Rate Formula for Professional Services described, per diem(s) and technical equipment or services and assumes the fiduciary responsibility of making payment to Magnificent Pictures LLC upon completion of Professional Services. It is a normal business procedure, due to the high risk of the entertainment industry and other related professional services, that a production company(s), producer(s), or an Individual(s) make financial arrangements for payment in advance prior to the start of Professional Services to be Rendered being performed by Magnificent Pictures LLC. Magnificent Pictures LLC reserves the right to reject any production(s), project(s), or job(s) and any other professional service(s). Payment(s) shall be made payable to Magnificent Pictures LLC exclusively and prohibits payment(s) to individual(s), company(s), contractor(s), or other professional related services that are in association or working with Magnificent Pictures LLC When the production company(s), producer(s) or an individual(s) fails to make prompt payment, collection alternatives (including interest and reasonable attorney’s fees), authorized by law, will be utilized by Magnificent Pictures LLC who remains empty handed. Production com¬pany(s), producer(s), or individual(s) agree not to disclose, copy, or use for their benefit or others any trade secrets of Magnificent Pictures LLC as defined under Florida law. Uniform Trade Secrets Act enacted by Florida, Florida statutes chapter 688, and Florida statutes 812.081. The undersigned acknowledges information disclosed is proprietary or a Trade Secret and in the event of any breach, Magnificent Pictures LLC shall be entitled to injunctive relief as a cumulative and not necessarily successive remedy.
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