Amendment No. 5 to Season 2 Agreement between WPT Enterprises, Inc. and The Travel Channel, LLC

Contract Categories: Business Finance › Modification Agreements
Summary

This amendment, dated August 18, 2004, is between WPT Enterprises, Inc. and The Travel Channel, LLC. It modifies their existing agreement for the television program "World Poker Tour" by requiring WPT to produce an additional one-hour special called "Poker Corner" for Season 3. The Travel Channel agrees to pay a specified license fee for this special, with payment terms and schedules outlined in attached exhibits. All other terms of the original agreement remain in effect unless specifically changed by this amendment.

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EX-10.2 3 v03381exv10w2.txt EX-10.2 - AMENDMENT TO NO. 5 TRAVEL CHANNEL AGREEMENT Exhibit 10.2 [Portions herein identified by ** have been omitted pursuant to a request for confidential treatment and have been filed separately with the Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended] As of August 18, 2004 WPT Enterprises, Inc. Attn: Steve Lipscomb 1041 North Formosa Avenue Suite 99 West Hollywood, CA 90047 RE: "WORLD POKER TOUR" - AMENDMENT NUMBER 5 TO SEASON 2 AGREEMENT (CID#1002911) (CONTRACT #: WPT003/ACQ/TRV/PL/SC/CG) Dear Ladies and Gentlemen: Reference is made to (i) that certain master agreement (the "Master Agreement") dated as of August 22, 2003 between WPT ENTERPRISES, INC. f/k/a WORLD POKER TOUR, L.L.C. ("Producer") and THE TRAVEL CHANNEL, L.L.C. ("TRV"); (ii) that certain agreement attached to the Master Agreement (the "Attachment"), dated as of August 22, 2003 between Producer and TRV in connection with the second season of the television production currently known as the "World Poker Tour" (the "Program"); (iii) that certain fully executed Amendment to Season 2 Agreement (the "First Amendment"), dated as of April 22, 2004; (iv) that certain fully executed Amendment Number 2 to Season 2 Agreement (the "Second Amendment"), dated as of May 10, 2004; (v) that certain fully executed Amendment Number 3 to Season 2 Agreement dated as of July 23, 2004 (the "Third Amendment") and (vi) that certain fully executed Amendment Number 4 to Season 2 Agreement (the "Fourth Amendment"), dated as of June 25, 2004. The Master Agreement and the Attachment, as amended by the First Amendment, the Second Amendment, the Third Amendment and the Fourth Amendment, are collectively hereinafter referred to as the "Agreement." Except as otherwise defined herein, capitalized terms used but not defined herein shall have the meanings set forth in the Agreement. The parties hereby agree that the Agreement shall be supplemented and amended as follows: 1. Producer hereby agrees to produce, in addition to the previously ordered First Additional Special - Season 3 program, a one (1) hour Additional Special tentatively entitled "Poker Corner" to be produced in connection with Season 3 of the Program and such Additional Special shall hereinafter be referred to as the "Second Additional Special - Season 3" (i.e., "Poker Corner"). 2. In consideration for the performance by Producer of its obligations hereunder and under the Agreement in connection with the Second Additional Special - Season 3 (i.e., the "Poker Corner" Additional Special), TRV agrees to pay Producer, and Producer agrees to accept, a License Fee in the amount of ** Dollars ($ ** ) for the Second Additional Special - Season 3. The License Fee will be paid by TRV to Producer in accordance with the terms of the Agreement, including, without limitation, a payment of $ ** (i.e., ** % of $ ** within fourteen (14) days of the receipt of insurance policies required to be delivered as Program Materials for the Second Additional Special - Season 3. 3. The production and exploitation of the Second Additional Special - Season 3 is in all respects subject to the terms of the Agreement as applicable to Additional Specials, as the same may be amended from time to time, except as amended hereby, provided that TRV hereby approves the Production Schedule for the Second Additional Special - Season 3 attached hereto as Exhibit A, the Payment Schedule for the Second Additional Special - Season 3 attached hereby as Exhibit B, and the Production Budget for the Second Additional Special - Season 3 attached hereto as Exhibit C. Except as otherwise herein expressly amended and supplemented, the Agreement is in all other aspects hereby ratified and confirmed. Please acknowledge your acceptance of the foregoing by signing in the space provided below. Very truly yours, THE TRAVEL CHANNEL, L.L.C. By: /s/ Daniel W. Russell ------------------------------------ Printed Name: Daniel W. Russell Title: V.P. Programming Date: August 20, 2004 WPT ENTERPRISES, INC. By: /s/ Steven Lipscomb --------------------------- Printed Name: Steven Lipscomb Title: President Date: August 19, 2004 Exhibit A Production Schedule Second Additional Special - Season 3 One (1) Page To Follow World Poker Tour Season III 2004/2005 ADDENDUM Production Schedule WPT Poker Corner Pilot
- -------------------------------------------------------------------------------------------------------------------------------- PRE- ROUGH FINE EP. # EP TITLE LOCATION PROD. PRODUCTION POST PROD. CUT CUT PROMO DEL. MASTERS - -------------------------------------------------------------------------------------------------------------------------------- 325 WPT Poker Corner Hollywood, CA July 5 - Aug. 16 - Aug. 24 - 2-Sep 8-Sep 13-Sep 14-Sep Aug. 13 Aug. 23 Sept. 14 - --------------------------------------------------------------------------------------------------------------------------------
Exhibit B Payment Schedule Second Additional Special - Season 3 One (1) Page To Follow WORLD POKER TOUR PAYMENT SCHEDULE
- ------------------------------------------------------------------------------------------------------------------------------------ C **% PAYMENT WITHIN D 14 DAYS OF **% DELIVERY TO AND PAYMENT B % APPROVAL BY DCI WITHIN 14 DAYS PAYMENT WITHIN 30 OF THE ALL OF DELIVERY TO DAYS PRIOR TO PROGRAM AND APPROVAL A % COMMENCEMENT PRODUCTION C BY DCI OF ALL D LICENSE UPON MUTUAL OF SCHEDULET WPT B DELIVERY MILESTONE DELIVERY FINAL PROGRAM DELIVERY EPISODE FEE EXECUTION EVENTS DATE MATERIALS DATE MATERIALS DATE - ------------------------------------------------------------------------------------------------------------------------------------ 325 WPT Poker Corner $** $** 21-Jul-04 $** 14-Sep-04 $** 28-Sep-04 $** TOTALS $** $** $** $** $** $** BALANCE DUE-PENDING ON TIME DELIVERY OF ELEMENTS: - ------------------------------------------------------------------------------------------------------------------------------------
Exhibit C Production Budget Second Additional Special - Season 3 Five (5) Pages To Follow WORLD POKER TOUR WPT POKER CORNER PILOT SET UP: Sunday, August 22 / VTR: Monday, August 23
- --------------------------------------------------------------------------------------------------------------- ACCT # DESCRIPTION QTY UNIT X UNIT COST SUBTOTAL - --------------------------------------------------------------------------------------------------------------- 1200 PRODUCER'S UNIT - --------------------------------------------------------------------------------------------------------------- 1202 Executive Producer ** week 1 ** ** - --------------------------------------------------------------------------------------------------------------- 1203 Supervising Producer week 1 - - --------------------------------------------------------------------------------------------------------------- 1203 Senior Producer weeks 1 - - --------------------------------------------------------------------------------------------------------------- 1203 Producer weeks 1 - - --------------------------------------------------------------------------------------------------------------- 1204 Associate Producer weeks 1 - - --------------------------------------------------------------------------------------------------------------- 1299 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 1300 DIRECTION - --------------------------------------------------------------------------------------------------------------- 1301 Director allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 1400 CAST - --------------------------------------------------------------------------------------------------------------- 1401 Commentator - Mike Sexton allow 1 - - --------------------------------------------------------------------------------------------------------------- 1402 Poker Pro - Annie Duke allow 1 - - --------------------------------------------------------------------------------------------------------------- 1402 Poker Pro - Daniel Negrano allow 1 - - --------------------------------------------------------------------------------------------------------------- 1402 Poker Pro - Phil Helmuth allow 1 - - --------------------------------------------------------------------------------------------------------------- 1499 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 1500 TRAVEL AND LIVING - --------------------------------------------------------------------------------------------------------------- 1523 Airfare tix 1 - - --------------------------------------------------------------------------------------------------------------- 1524 Lodging nite 4 - - --------------------------------------------------------------------------------------------------------------- 1525 Per Diem days 4 - - --------------------------------------------------------------------------------------------------------------- 1527 Transportation allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ =============================================================================================================== TOTAL ABOVE-THE-LINE - =============================================================================================================== 2000 PRODUCTION STAFF - --------------------------------------------------------------------------------------------------------------- 2001 Line Producer weeks 1 - - --------------------------------------------------------------------------------------------------------------- 2002 Production Manager weeks 1 - - --------------------------------------------------------------------------------------------------------------- 2007 Production Accountant weeks 1 - - --------------------------------------------------------------------------------------------------------------- 2009 Production Coordinator weeks 1 - - --------------------------------------------------------------------------------------------------------------- 2013 Production Assistants weeks 1 - - --------------------------------------------------------------------------------------------------------------- 2013 Set PAs days 4 - - --------------------------------------------------------------------------------------------------------------- 2099 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 3900 STAGE FACILITIES - --------------------------------------------------------------------------------------------------------------- 3931 Stage /Set Up/Shoot/Strike days 1 - - --------------------------------------------------------------------------------------------------------------- 3931 Production Control Rooms - Included days 1 - - - --------------------------------------------------------------------------------------------------------------- 3931 News Set - Included days 1 - - --------------------------------------------------------------------------------------------------------------- 3931 Power - Lighting/AC days 1 - - --------------------------------------------------------------------------------------------------------------- 3933 Dressing Rooms (1 office, 1 grn room) days 1 - - - --------------------------------------------------------------------------------------------------------------- 3933 Make Up Room days 1 - - - --------------------------------------------------------------------------------------------------------------- 3933 Wardrobe Room (extra dressing room) days 1 - - - --------------------------------------------------------------------------------------------------------------- 3933 Lunch Room, Pkng, Trash PU, Shower days 1 - - - --------------------------------------------------------------------------------------------------------------- 3933 Phone Lines (Dressing Rooms) days 1 - - - --------------------------------------------------------------------------------------------------------------- 3903 Facilities Assistant days 1.5 - - --------------------------------------------------------------------------------------------------------------- 3981 Processing Fee (10% of personnel) allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 2200 SET DESIGN - --------------------------------------------------------------------------------------------------------------- 2201 Production Designer allow 1 - - --------------------------------------------------------------------------------------------------------------- 2202 Art Director week 1 - - --------------------------------------------------------------------------------------------------------------- 2204 Stagehands days 5 - - --------------------------------------------------------------------------------------------------------------- 2299 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 2300 SET CONSTRUCTION - --------------------------------------------------------------------------------------------------------------- 2321 Purchases allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 2500 SET SHIPPING - --------------------------------------------------------------------------------------------------------------- 2521 Trucking allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 2700 SET DRESSING - --------------------------------------------------------------------------------------------------------------- 2721 Graphics allow 1 - - --------------------------------------------------------------------------------------------------------------- 2721 Plasma Screen Rentals ** days 4 ** ** - --------------------------------------------------------------------------------------------------------------- - ------------------
- --------------------------------------------------------------------------------------------------------------- ACCT # DESCRIPTION QTY UNIT X UNIT COST SUBTOTAL - --------------------------------------------------------------------------------------------------------------- 2500 SET OPERATIONS - --------------------------------------------------------------------------------------------------------------- 2531 Scissor Lift/Man Lift (no charge) ** days 1 ** ** - --------------------------------------------------------------------------------------------------------------- 2506 Utility days 1 - - --------------------------------------------------------------------------------------------------------------- 2509 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 3200 LIGHTING - --------------------------------------------------------------------------------------------------------------- 3201 Lighting Director days 1 - - --------------------------------------------------------------------------------------------------------------- 3202 WPT Gaffer days 1 - - --------------------------------------------------------------------------------------------------------------- 3204 House Electric/Board Op days 1 - - --------------------------------------------------------------------------------------------------------------- 3204 Electric (estimated time for refocus) days 1 - - --------------------------------------------------------------------------------------------------------------- 3231 Grip/Electric Package days 1 - - --------------------------------------------------------------------------------------------------------------- 3223 Expendables allow 1 - - --------------------------------------------------------------------------------------------------------------- 3299 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 3300 CAMERA - --------------------------------------------------------------------------------------------------------------- 3302 Jib Operator day 1 - - --------------------------------------------------------------------------------------------------------------- 3302 Ped Operators day 3 - - --------------------------------------------------------------------------------------------------------------- 3331 Ped Cameras day 3 - - --------------------------------------------------------------------------------------------------------------- 3331 1 Jib Camera day 1 - - --------------------------------------------------------------------------------------------------------------- 3331 Jimmy Jib day 1 - - --------------------------------------------------------------------------------------------------------------- Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 3400 AUDIO - --------------------------------------------------------------------------------------------------------------- 3401 Audio Mixer days 1 - - --------------------------------------------------------------------------------------------------------------- 3402 A2 - Sean Mc Niel day 1 - - --------------------------------------------------------------------------------------------------------------- 3431 Hard Line Mics day 4 - - --------------------------------------------------------------------------------------------------------------- 3299 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 3800 VIDEO - --------------------------------------------------------------------------------------------------------------- 3801 Engineer in Charge days 1 - - --------------------------------------------------------------------------------------------------------------- 3805 Technical Director days 1 - - --------------------------------------------------------------------------------------------------------------- 3806 Video Tape Operator days 1 - - --------------------------------------------------------------------------------------------------------------- 3807 Video Control days 1 - - --------------------------------------------------------------------------------------------------------------- 3831 Floor Monitors days 2 - - --------------------------------------------------------------------------------------------------------------- 3831 Digi Beta Decks Iso's day 5 - - --------------------------------------------------------------------------------------------------------------- 3831 MAV Playback Server day 1 - - --------------------------------------------------------------------------------------------------------------- 3299 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 3000 HAIR AND MAKE UP - --------------------------------------------------------------------------------------------------------------- 3001 Makeup Artist day 1 - - --------------------------------------------------------------------------------------------------------------- 3039 Kit Rental flat 1 - - --------------------------------------------------------------------------------------------------------------- 3099 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 3500 TRANSPORTATION - --------------------------------------------------------------------------------------------------------------- 3524 Mileage allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 3600 LOCATION - --------------------------------------------------------------------------------------------------------------- 3625 Crew meals meal 2 - - --------------------------------------------------------------------------------------------------------------- 3626 Craft service day 2 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 3700 PRODUCTION FILM AND LAB - --------------------------------------------------------------------------------------------------------------- 3702 Digi Beta x 94 minutes tape 20 - - --------------------------------------------------------------------------------------------------------------- - ------------------ =============================================================================================================== TOTAL PRODUCTION - =============================================================================================================== 4500 EDITORIAL - --------------------------------------------------------------------------------------------------------------- 4525 Post Supervisor weeks 1 - - --------------------------------------------------------------------------------------------------------------- 4526 Post Coordinator weeks 1 - - --------------------------------------------------------------------------------------------------------------- 4501 Editor weeks 1 - - --------------------------------------------------------------------------------------------------------------- 4501 Online Editor week 1 - - --------------------------------------------------------------------------------------------------------------- 4502 Assistant Editor weeks 1 - - --------------------------------------------------------------------------------------------------------------- 4527 Logger week 1 - - --------------------------------------------------------------------------------------------------------------- 4528 Transcription Service allow 1 - - --------------------------------------------------------------------------------------------------------------- 4532 Avid Rental weeks 1 - - --------------------------------------------------------------------------------------------------------------- 4532 Unity Storage week 1 - - --------------------------------------------------------------------------------------------------------------- 4532 Online/Adrenaline week 1 - - --------------------------------------------------------------------------------------------------------------- 4532 Misc. Deck Rental ** allow 1 ** ** - --------------------------------------------------------------------------------------------------------------- 4599 Fringes allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------
- --------------------------------------------------------------------------------------------------------------- ACCT # DESCRIPTION QTY UNIT X UNIT COST SUBTOTAL - --------------------------------------------------------------------------------------------------------------- 4900 POST VIDEO - --------------------------------------------------------------------------------------------------------------- 4902 Dubs ** allow 1 ** ** - --------------------------------------------------------------------------------------------------------------- 4901 Tape Stock allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 4700 POST AUDIO - --------------------------------------------------------------------------------------------------------------- 4705 Mix allow 1 - - --------------------------------------------------------------------------------------------------------------- 4708 VO Talent allow 1 - - --------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------- - ------------------ 4600 MUSIC - --------------------------------------------------------------------------------------------------------------- 4602 Music Package allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 5000 TITLES & OPTICALS - --------------------------------------------------------------------------------------------------------------- 5001 Graphics Package allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ =============================================================================================================== TOTAL POST PRODUCTION - =============================================================================================================== 6700 INSURANCE - --------------------------------------------------------------------------------------------------------------- 6507 Liability/Entertainment Package/E&O allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ 6800 OVERHEAD - --------------------------------------------------------------------------------------------------------------- 6821 Phone, Fax, DSL allow 1 - - --------------------------------------------------------------------------------------------------------------- 6823 Shipping and Postage allow 1 - - --------------------------------------------------------------------------------------------------------------- 6834 Supplies allow 1 - - --------------------------------------------------------------------------------------------------------------- 6837 Office Equipment (computers, copier) allow 1 - - --------------------------------------------------------------------------------------------------------------- 6833 Office Rental/Parking month 1 - - --------------------------------------------------------------------------------------------------------------- 6840 Legal Fees/Patent Settlement allow 1 - - --------------------------------------------------------------------------------------------------------------- 6840 Legal Fees allow 1 - - --------------------------------------------------------------------------------------------------------------- - ------------------ =============================================================================================================== TOTAL OTHER - =============================================================================================================== - --------------------------------------------------------------------------------------------------------------- Contingency allow 1 - - - --------------------------------------------------------------------------------------------------------------- Producer Fee allow 1 - - - --------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------- GRAND TOTAL - - ---------------------------------------------------------------------------------------------------------------