Sylvester Stallone famously refused to sell his screenplay for Rocky unless he was guaranteed the starring role if the film were to be produced. This is an example of being pay and play (rather than pay or play) since the studio would not have the right to terminate Mr. Stallone as an actor (other than for cause, presumably), even if it committed to pay Stallone the full amount of the negotiated acting fee.

Why do you think that those type of deals are so unusual? In your opinion, why might studios be reluctant to make pay and play arrangements such as this?

Do you think studios would be more willing to enter into these types of arrangements with writers who insist on directing the film based on their screenplay (as opposed to writers that insist on starring in the film)?