In this case he granted rights to the book itself, not to make derivative works of it, so I don't think this clause is relevant. I think it's saying that e.g. i

In this case he granted rights to the book itself, not to make derivative works of it, so I don't think this clause is relevant. I think it's saying that e.g. if Penguin had made a tv-series based on the book, they would not lose the rights to the tv-series when the grant of the book terminated.