10. The Seller hereby grants to the Purchaser the option to acquire television series rights in and to the Work. Such option may be exercised by the Purchaser at any time within five (5) years after the first general release of the last motion picture photoplay based upon the Work or THE TRILOGY. · A picture shall be deemed to be the "last motion picture photoplay based upon the Work or THE TRILOGY" if principal photography has not commenced on a subsequent motion picture photoplay within three years from the first general release of the previous motion picture photoplay based upon the Work or THE TRILOGY. "Television series rights" shall be deemed to mean the sole and exclusive right to use a character or characters., characterizations., names of characters., settings locations., themes., or other material ·suggested by or derived from the Work and the titles thereof in different stories, in separate episodes and/or in serial type television programs.

Should the Purchaser exercise such option as aforesaid, then the Purchaser shall pay to the Seller the sum of $3,250.00 against the following sums:
Two hundred fifty Dollars ($250.00) for each one-half hour episode; and Three hundred thirty three and 33/100 Dollars ($333.33) for each one (1) hour episode; and Five hundred Dollars ($500.OO) for each episode one and one-half (1-1/2) hours or longer. The said sum of $3,250.00 shall apply against the first payment due under the per episode payments. From and after the time when additional sums are payable, such sums shall be paid at or before the commencement of principal photography of each episode. In addition to the foregoing sums, the Seller shall be entitled to receive, and the Purchaser shall pay 25% of the original payment for each of the first four ( 4) re-runs of each such television episode, the fourth of such rerun payments to constitute full and final payment for all subsequent re-run rights without limitation.

Nothing in this Paragraph 10 contained shall constitute a requirement on the part of the Purchaser to produce or distribute any television series or episodes, whether or not the option shall have been exercised.

9. The Seller hereby grants to the Purchaser the option to acquire television series rights in and to the Work. Such option may be exercised by the Purchaser at any time within five (5) years after the first general release of the last motion picture photoplay based upon the Work or THE TRILOGY or THE HOBBIT. A picture shall be deemed to be the "last motion picture photoplay based upon the Work or THE TRILOGY or THE HOBBIT" if principal photography has not commenced on a subsequent motion picture photoplay within three years from the first general release of the previous motion picture photoplay based upon the Work or THE TRILOGY or THE HOBBIT. "Television series rights" shall be deemed to mean the sole and exclusive right to use a character or characters, characterizations, names of characters, settings, locations, themes, or other material suggested by or derived from the Work and the titles thereof in different stories, in separate episodes and/or in serial type television programs.

Should the Purchaser exercise such option as aforesaid, then the Purchaser shall pay to the Seller the sums set forth on SCHEDUIE B attached hereto and made a part hereof.

Nothing in this Paragraph 9 contained shall constitute a requirement on the part of the Purchaser to produce or distribute any television series or episodes, whether or not the option shall have been exercised.

SCHEDULE B
Should the Purchaser exercise its option as in Paragraph 9 provided, then Purchaser shall pay to the Seller .the sum of Six Thousand Five Hundred ($6,500.00) Dollars against the following sums:
Five Hundred ($500.00) Dollars for each one-half (1/2) hour episode; and Six Hundred sixty Six and 67/100 ($666.67) Dollars for each one (1) hour episode; and One Thousand ($1,000.00) Dollars for each episode one and one-half (1-1/2) hours or longer. The said sum of $6,500.00 shall apply against the first payment due under the per episode payment. From and after the time when additional sums are payable, such sums shall be paid at or before the commencement of principal photography of each episode. In addition to the foregoing sums, the Seller shall be entitled to receive, and the Purchaser shall pay twenty five percent (25%) of the original payment for each of the first four (4) re-runs of each such television episode, the fourth of such re-run payments to constitute full and final payment for all subsequent re-rìn rights without limitation.