The specific terms and conditions of the Option, royalty and warrants (e.g., exercise provisions, rights to documentation, shareholder rights such as pro-rata

The specific terms and conditions of the Option, royalty and warrants (e.g., exercise provisions, rights to documentation, shareholder rights such as pro-rata rights and anti-dilution protections, etc.) shall be set forth in one or more further agreements between Producer and me. Seems a little wishy-washy, doesn't it? What happens if they can't agree, or do they decide this up-front? It also seems to imply that they want preferred stock, which strikes me as bit odd, to say the least.