According to the deal both sides agreed to support one project each year in which the other partner has the majority stake. There is no minimum or maximum support rate. The deal is valid for three years and starts on March 1. The agreement covers feature films which are officially Irish-Hungarian co-productions and the co-operation of a third partner country is not more than 30%. There will be no separate budget for these projects at the Motion Picture Public Foundation of Hungary.

The idea of the agreement grew from the success of award winner The Investigator directed by Attila Gigor, which was a co-production with Ireland.