TAFs reports on a Slate.com article about Arnie grossing in on Terminator 3: Rise of the Machines. For easy reading we copied
the entire TAFs article to the TerminatorFiles, with links included.
Arnold's T3 Film and DVD Returns! 30 Million Paycheck for T3: Fact or Fiction?
Slate.com has a mighty interesting read with the new
article called "Gross Hysteria" written by Edward Jay Epstein. The article has us looking at Arnold Schwarzenegger's 33-page
contract for Terminator 3, which is still considered the gold standard for the super-gross players.
For his fixed compensation, Schwarzenegger received $29.25 million - then a record sum. He got the first $3 million upon
signing and the balance during the course of principal photography. His "contingent" compensation was 20 percent of the
"adjusted gross receipts" of the distributors (Warner Bros. in the United States; Sony Pictures and Intermedia abroad).
The "adjusted" part of the equation allowed the studio to deduct the items specified on Page 3 of the contract: "All
industry-standard and customary off-the-top exclusions and deductions - i.e. checking, collection conversion costs,
quota costs trade association fees, residuals, and taxes."
Schwarzenegger's lawyer, Jacob Bloom, is without peer in the entertainment business, but the best he could do here was
to cap some of the collection charges at $250,000; he could not touch the residuals or tax deduction. Bloom did manage
to get the all-important DVD royalty contribution to the pool raised to 35 percent (although only for Schwarzenegger).
As good as this was, it meant that Schwarzenegger was entitled to only 7 percent of what the studios took in from their
DVD sales.
Schwarzenegger's contingent compensation would not kick in until the film met the break-even point defined in the contract
(click here to see how his contract defines
cash break-even).
Although the film achieved a $428 million world box-office gross, it just barely reached its cash break-even point, so
alas, Gov. Schwarzenegger has earned only a pittance so far from his gross participation beyond his $29.25 million payday.
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