Text of the Contract Between Abraham Zapruder and Time, Inc. (Life Magazine)
Signed by Abraham Zapruder and Richard Stolley
Dallas, Texas
November 25, 1963
Mr. C. D. Jackson, Publisher
Life Magazine
c/o Time, Inc.
Rockefeller Center
New York, New York
Dear Sir:
This will confirm the agreement reached with your authorized representative, Richard B. Stolley, during the past few days, wherein I have agreed to sell, transfer, and assign to Time, Inc. all my right, title, and interest (whether domestic, foreign, newsreel, television, motion picture, or otherwise) in and to my original and all three (3) copies of 8mm color films which show the shooting of President John F. Kennedy in Dallas, Texas, on November 22, 1963.
You acknowledge receipt, through your agent, of the original and one (1) copy thereof, and it is understood that there are two (2) other copies—one (1) of which is with the Secret Service in Dallas, Texas, and one (1) of which is with the Secret Service in Washington, D.C. I have the assurance and agreement of the Secret Service that the copies in their possession are to be released only to me, and I agree that I shall, immediately upon receipt of same, deliver same to your office or to such of your authorized representatives as you designate, or I will agree to sign any authorization allowing same to be delivered directly to you.
It is understood and agreed that you have all rights attached to said film of any kind and character whatsoever and may use them as you see fit, upon the terms and conditions set forth hereinafter:
You agree to pay me the sum of $150,000.00, payable $25,000.00 cash immediately, and the balance of $125,000.00 to be paid in installments as follows:
$25,000.00 on January 3, 1964
$25,000.00 on January 3, 1965
$25,000.00 on January 3, 1966
$25,000.00 on January 3, 1967
$25,000.00 on January 3, 1968
In addition to the above consideration, it is agreed that you will pay to me a sum equal to one-half (1/2) of all gross receipts derived by Time, Inc., its organized divisions, and its wholly owned subsidiaries from any source out of the use, sale, showing, rental, leasing, licensing, or other publication of any kind or character whatsoever, after you have received $150,000.00 in cash from gross receipts derived from the same sources. Gross receipts received from foreign publication or sale will mean the gross receipts less agent’s commissions customarily paid by Time, Inc. under the same or similar circumstances.
The proceeds of this one-half (1/2) of gross proceeds over $150,000.00 shall be paid to me as follows:
$25,000.00, or such lesser amount as may then be due, shall be paid on January 3, 1969, and a similar payment of $25,000.00, or such lesser amount as may then be due, annually thereafter on the 3rd day of January of each calendar year, until this agreement shall cease and terminate by its terms.
It is, however, understood that Time, Inc. and its presently constituted divisions, as well as its wholly owned subsidiary, Time-Life Broadcast, Inc., shall have unlimited free use on its own behalf of the subject matter.
This contract and agreement shall last for the life of any copyrights taken out by you and/or the undersigned in connection with said film, plus any time allowed for renewals. You agree to indemnify and hold me harmless from any claims and expenses in connection with claims arising out of your use, dissemination, and distribution of the film, and further agree not to use my name in connection with any such issue or publication without my prior written consent.
You further agree that you shall furnish me with a certified audited report of the auditing firm of your company showing the total gross receipts derived from said film each calendar year or at such other times as may be agreed upon hereafter.
It is further understood and agreed that in the event you shall sell or transfer all rights to this film, such sale shall be subject to the terms of this agreement and shall be binding upon the purchaser thereof.
Furthermore, should Time, Inc. transfer or assign either the print media rights in their entirety, or the film for motion picture, television, newsreel, etc. dissemination, publication or viewing, in their entirety, any such sale shall likewise bind the purchaser thereof to the aforementioned provisions concerning payment of one-half (1/2) of the gross receipts from exhibition, publication, licensing, renting, or other publication of said film.
Time, Inc. further agrees that it will present said film to the public in a manner consonant with good taste and dignity and agrees to exercise its best business judgment in the presentation, sale, leasing, licensing, and rental of said film, consonant with your business custom and practice for the production of gross receipts therefrom.
I warrant that I am the sole owner of this film and that I have not and will not grant any rights to any other person, corporation, or entity, and will agree to accord to you all rights in connection with same and cooperate with you to the fullest extent to secure same.
Time, Inc. agrees to obtain, at its expense, such copyright protection, domestic and foreign, as it may deem necessary or proper for its own safety and to prevent any infringement thereof, should the same be necessary.
Anything to the contrary herein notwithstanding, neither I nor my heirs shall have any right to sell, transfer, assign, pledge, hypothecate, mortgage, encumber, or in any way dispose of this contract or any of the payments specified herein or the proceeds hereof, nor to receive payment at any time other than as specified herein. Nor shall you have any right to make any payments in advance.
Very truly yours,
[Signed]
Abraham Zapruder
ACCEPTED AND AGREED
this 25th day of November, A.D. 1963:
TIME, INC.
By: [Signed]
Richard B. Stolley