RIGHTS: SPE has the exclusive right to utilize the “Spider-Man” character and the other
Creative Elements listed in Paragraph 1 above to (a) develop and produce live action or
animated theatrical motion pictures (each, a “Picture”) and live-action television series
(and also animated television series with episodes longer than 44 minutes), during the
Production Term, and (b) distribute, advertise and otherwise exploit in perpetuity any
motion picture or television series that commenced production during the Production
Term.