Taking points on a film's earnings...advice needed

Hey guys,

I’m the director of photography on a feature shooting next year and wanted to get some pointers and maybe some experience on working partially for points after the film’s release. The producer/director and I have a pretty good relationship so I’m willing to do this on a contingent basis, but it’ll be the first film I’m working on with a potential market.

I’m setting my rate on a daily basis, 2/3rds of which will be deferred. I’m looking for a good starting point to negotiate my points on the back end. First off, I think he’s willing to give me a gross percentage rather than net, since I’m essentially helping produce this film in terms of in-kind equipment rentals. I guess it depends on how you look at it. We already have at least one theater that will screen it. But I’m wondering what kind of pay schedule I should ask for and how those gross earnings during screening should be accounted for (if that’s even possible).

If distribution ever takes place, how are those earnings reported? I’d imagine he’d go for a more upfront/less points deal with any sales rep he’d collaborate with, but I just don’t have any experience with the process of checking the books as a “producer” to see how percentages are continually paid out.

I might be leaving a few things out, so I’ll answer any questions if you got em.

Thank you ma friends

Chris