What is turnaround? I would think they would give it back to the producer and he would try to shop around again or give it back to you if he/she is not interested. And if so, does the producer have to pay you, the writer fees?
Turnaround is when the studio, having shelved a project, gives the producer an opportunity to buy the project back for an amount in the neighborhood of every single cost the studio can allocate to the project. Practically it means that the producer can take it to another studio and try to get the other studio to buy it from the first studio.
A studio can easily rack up a couple million bucks just ordering rewrites, so normally it is very hard to use your turnaround rights. However, see LORD OF THE RINGS.
The writer does not get his rights back until his contract says he does. Some writer contracts have turnaround or actual reversion clauses (mine do); usually the producer has bought irrevocable rights.
The producer only has to pay the writer fees per his contract. So if selling the project to another studio means that the show goes, and you get paid a production fee when the show goes, then mazel tov to you, you're getting paid. But turnaround itself does not generate any fees to the writer.
Labels: development hell