I thought this might be an interesting conversation for everyone and that my case here could be a jumping off point.
I would like to bring on this great guy to help produce my feature (I'm writer/director). He has produced two shorts, one got distribution. He is extremely smart, passionate and ambitious, but doesn't yet have a feature film under his belt.
He wants to option the material and get a "produced by" credit in exchange for chasing down financing, cultivating relationships with distributors, cast etc. I am concerned about attaching him that way up front in case a production company, or more experienced producer might want to co-produce and be hesitant to have him on as a full producer. I'm wondering how to structure something that will compensate his work, but also provide for the instance where he is working very hard, making contacts etc, but has not secured funding or a key player. Does anyone have experience with different deals, how to structure them and also how production companies view other producers who are already on a project?
I'd love any insight and experiences from both sides of this!