Notice of Option Exercise

EX-10.3 6 c83796s1exv10w3.txt NOTICE OF OPTION EXERCISE EXHIBIT 10.3 [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 406 of the Securities Act of 1933, as amended] [Travel Channel Letterhead] April 12, 2004 World Poker Tour, L.L.C. Attn: Steve Lipscomb 1041 North Formosa Avenue Formosa Building, Suite 99 West Hollywood, CA 90046 Re: Contract #:WPT003/ACQ/TRV/LG/RWR/CG Dear Steve: Reference is made to the agreement between TRAVEL CHANNEL, L.L.C. ("TRV") and WORLD POKER TOUR, L.L.C., dated August 22, 2003 (the "Agreement"). Except as otherwise defined herein, any capitalized terms used in this letter will have the meanings set forth in the Agreement. DCI hereby exercises its Option pursuant to paragraph four (4) of the Agreement to require Producer to produce and deliver to TRV an additional season of the Program of thirteen Episodes (13 x 120 minutes) (i.e., an "Additional Series Order"). Accordingly, TRV shall prepare an amendment incorporating the Production and Payment Schedules for the Additional Series Order and pay the License Fee (i.e., $ ** per Program) in accordance with the terms of the Agreement. Please note, TRV may be ordering fourteen (14) episodes for the Additional Series Order. Very truly yours, TRAVEL CHANNEL, L.L.C. By: /s/ Rick Rodriguez ---------------------- Its: EVP & General Manager Travel Channel