Winners get cash prizes ($15,000 to the winner) and an appearance for their films on Howard TV On Demand, and will also write off any and all rights to their work. According to the official rules, if you win, your film belongs to Howard and his sponsors forever and ever. They can "reproduce, record, alter, amend, edit, publish, publicly perform, use, broadcast and stream the short film (or any part thereof) and any person’s property (physical and personal and indicia) contained therein, in connection with any and all media now or hereafter known throughout the world in perpetuity, without any payment or other consideration of any kind, or permission or notification, to you or any third party." Got that?
If the thought of being in connection to Stern "in perpetuity" doesn't scare you off, you've got until April 11 (That's date received, NOT postmarked. Punk.) to submit as many different films as you can put together.