Document:

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                                                                   Exhibit 10(v)

                                OPTION AGREEMENT
                                ----------------

                          (NON-QUALIFIED STOCK OPTION)

         This Option Agreement ("Agreement") is made as of the 28th day of
February, 2001, between FanZ Enterprises, Inc., a Delaware corporation
(hereinafter called the "Company"), and Michael J. Wurtsbaugh, a consultant of
the Company or one or more of its Subsidiaries (hereinafter called the
"Consultant").

         WHEREAS, the Company and the Consultant have entered into an Employment
Agreement dated FEBRUARY 28 , 2001 (the "Employment Agreement"), pursuant to
which the Consultant will be engaged as the Chief Financial Officer of the
Company upon the consummation of the Company's initial public offering with
proceeds of at least $10,000,000.

         NOW, THEREFORE, in consideration of the mutual covenants hereinafter
set forth, and for other good and valuable consideration, the parties hereto
have agreed, and do hereby agree, as follows:

         1. GRANT OF OPTION. The Company hereby grants to the Consultant the
right and option (hereinafter called the "Option") to purchase all or any part
of an aggregate of 500,000 shares of the common stock, $.01 par value, of the
Company ("Shares") on the terms and conditions set forth herein.

         2. TYPE OF OPTION. The Option granted under this Option Agreement is a
Non-Qualified Stock Option and shall not be treated by the Company or the
Consultant as an Incentive Stock Option for federal income tax purposes.

         3. OPTION PRICE. The option price of the Shares covered by the Option
is $3.00 per Share.

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         4. TERM OF OPTION. The term of the Option shall be for a period of ten
(10) years from the date hereof, subject to earlier termination as hereinafter
provided.

         5. EXERCISE OF OPTION.

            (a) Prior to its expiration or termination, and except as provided
in Section 5(b) below, the Option may be exercised within the following time
limitations:

                        (i) On and after the date hereof, the Option may be
                  exercised as to not more than 250,000 of the Shares originally
                  subject to the Option.

                       (ii) On and after the first anniversary of the date of
                  this Agreement, the Option may be exercised as to not more
                  than an aggregate of 312,500 of the Shares originally subject
                  to the Option.

                      (iii) On and after the second anniversary of the date of
                  this Agreement, the Option may be exercised as to not more
                  than 375,000 of the Shares originally subject to the Option.

                       (iv) On and after the third anniversary of the date of
                  this Agreement, the Option may be exercised as to not more
                  than 437,500 of the Shares originally subject to the Option.

                        (v) On and after the fourth anniversary of the date of
                  this Agreement, the Option may be exercised as to any part or
                  all of the Shares originally subject to the Option.

         (b) Notwithstanding anything to the contrary herein, in the event of
the sale of substantially all of the assets of the Company, the Option may be
exercised in full at any time during the ten (10) day period ending on the
closing of such transaction.

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         (c) In order to exercise the Option, the person or persons entitled to
exercise it shall deliver to the Company written notice of the number of full
Shares with respect to which the Option is to be exercised. Such notice shall be
delivered to the attention of the President of the Company, or such other person
as the Board of Directors of the Company (the "Board"), or any committee
appointed by the Board which is invested with the responsibility of
administering this Agreement (the "Committee"), if one has been appointed, shall
designate. Unless (i) the Company, in its discretion, establishes "cashless
exercise" procedures, and (ii) the Board, or the Committee if one has been
appointed, in its discretion, permits the person or persons entitled to exercise
the Option to utilize such "cashless exercise" procedures, the notice shall be
accompanied by payment in full for any Shares being purchased. Such payment
shall be in cash or, upon approval of the Board, or the Committee if one has
been appointed, by certificates of Shares held for more than six (6) months,
duly endorsed in blank, equal in value to the purchase price of the Shares to be
purchased based on their Fair Market Value on the date of exercise or, upon
approval of the Board or the Committee, as the case may be, by a combination of
cash and Shares. For purposes of this Agreement, "Fair Market Value" shall mean,
with respect to the Shares, the fair market value determined in good faith by
the Board, or Committee, if one has been appointed, in its discretion, which
determination may, but need not, be based on (i) the advice of an independent
financial advisor (which may be the Company's regular outside auditors) or (ii)
the last known price per share paid by a purchaser in an arm's length
transaction; provided, however, that if there shall be a public market for the
Shares, Fair Market Value shall mean (i) the closing price of the Shares on the
principal stock exchange on which Shares are then traded or admitted to trading,
on the last business day prior to the date on which the value is to be
determined, (ii) if no sale takes place on such day on any such exchange, the
average of the last reported closing bid and asked prices on such day as
officially quoted on any such exchange, or (iii)

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if the Shares are not then listed or admitted to trading on any such exchange,
the average of the last reported closing bid and asked prices on such day on the
over-the-counter market. For purposes of (i) above, the National Association of
Securities Dealers National Market System shall be deemed a principal stock
exchange. If there shall be a public market for the Shares, and the foregoing
references are unavailable or inapplicable, then the Fair Market Value shall be
determined on the basis of the appropriate public market price indicator as
determined by the Board or Committee, if one has been appointed, in its sole
discretion.

         (d) No Shares shall be issued until full payment therefor has been
made, and the Consultant shall have none of the rights of a shareholder in
respect of such Shares until full payment therefor has been made.

         6. NONTRANSFERABILITY. The Option shall not be transferable, other
than: (a) to a trust established by the Consultant for estate planning purposes,
or (b) by will or the laws of descent and distribution, and the Option may be
exercised, during the lifetime of the holder of the Option, only by him, or in
the event of death, his Successor, or in the event of disability, his personal
representative, or (c) pursuant to a qualified domestic relations order, as
defined in the Internal Revenue Code of 1986, as amended (the "Code") or the
Employee Retirement Income Security Act of 1974 ("ERISA") or the rules
thereunder.

         7. TERMINATION OF EMPLOYMENT. Notwithstanding anything to the contrary
in this Agreement, the Employment Agreement and any other existing or future
agreement between the Company and the Consultant, in the event of any
termination of the Consultant's employment with the Company:

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         (a)      for Cause (as defined in Section 7(b) of the Employment
                  Agreement, the Option, to the extent not theretofore
                  exercised, shall terminate as of the date of such termination,
                  or

         (b)      for "Not For Cause" (as defined in Section 7(e) of the
                  Employment Agreement, including Resignation with Good Reason
                  (as defined in Section 7(f)(ii) of the Employment Agreement))
                  the Option, to the extent not theretofore exercised, may be
                  exercised in full at any time during the one (1) year
                  severance period following such termination but not beyond the
                  original term of the Option, or

         (c)      for any other reason other than Section 7(a) and 7(b) above,
                  Death, Disability, Retirement or Change of Control as further
                  described herein then (i) the Option may be exercised by the
                  Consultant at any time after the date on which his employment
                  terminated, but not beyond the original term of the Option,
                  and (ii) the portion of the Option that has not vested as of
                  the date of the termination of the Consultant's employment
                  with the Company terminated shall automatically terminate as
                  of the date of termination of employment.

         Once the Consultant becomes an employee of the Company and so long as
the Consultant shall continue to be an employee of the Company or one or more of
its Subsidiaries, the Option shall not be affected by any change of duties or
position. Nothing in this Option Agreement shall confer upon the Consultant any
right to continue in the employ of the Company or any of its Subsidiaries or
interfere in any way with the right of the Company or any such Subsidiary to
terminate his employment at any time. Anything contained herein to the contrary
notwithstanding, in the event of the termination of the Consultant's employment
for Cause, the Option, to the extent not theretofore exercised, shall terminate.

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         8. DEATH OF CONSULTANT. If the Consultant shall die while he shall be
employed by the Company or one or more of its Subsidiaries, or within three (3)
months after the termination of his employment other than for Cause, then (a)
the Option may be exercised by the Consultant's Successor (to the extent the
Consultant shall have been entitled to do so at the time of his death) at any
time within one (1) year after the date of the Consultant's death, but not
beyond the term of the Option, and (b) the portion of the Option that has not
vested as of the date of the Consultant's death shall automatically terminate as
of the date of the Consultant's death.

         9. DISABILITY OF CONSULTANT. If the employment of the Consultant shall
terminate on account of his having become "disabled", as such term is defined in
Section 7(c) of the Employment Agreement, then (a) the Option may be exercised
(to the extent as of the date of the termination of Consultant's employment by
reason of having becoming disabled) by the Consultant or the Consultant's
personal representative, as the case may be, at any time within one (1) year
after the date on which the Consultant's employment terminated by reason of his
disability in accordance with the terms of the Employment Agreement, but not
beyond the original term of the Option, and (b) the portion of the Option that
has not vested as of the date of the termination of the Consultant's employment
by reason of his having become disabled shall automatically terminate.

         10. RETIREMENT OF CONSULTANT. If the employment of the Consultant shall
terminate by reason of retirement entitling the Consultant to early, normal or
late retirement benefits under the provisions of any retirement plan of the
Company or a Subsidiary in which the Consultant participates (or if no such plan
then exists, at or after age sixty-five (65)), then (a) the Option may be
exercised by the Consultant (to the extent he shall have been entitled to do so
as of the date of his termination of employment by reason of retirement) at any
time after the date on which his

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employment terminated by reason of his retirement, but not beyond the original
term of the Option and (b) the portion of the Option that has not vested as of
the date of the termination of the Consultant's employment by reason of his
retirement shall automatically terminate as of the date of Consultant's
retirement.

         11. CHANGE IN CONTROL. Notwithstanding anything to the contrary in this
Agreement, including Section 7 hereof, in the case of a Change in Control of the
Company:

                  (a) If the Change in Control of the Company is described in
         Section 11(c)(i) or 11(c)(ii) hereof, the Board, or Committee if one
         has been appointed, may, in its discretion, taking into account the
         purposes of this Agreement, determine, on a case by case basis, that
         this Option shall, subject to the following provisions, terminate
         ninety (90) days after the Board becomes aware of the occurrence of
         such Change in Control but, in the event of any such termination, the
         Option holder shall have the right, commencing at least five (5) days
         prior to such Change in Control and subject to any other limitation on
         the exercise of such Option in effect on the date of exercise to
         immediately exercise any Options in full, without regard to any vesting
         limitations, to the extent they shall not have been theretofore
         exercised.

                  (b) If the Change in Control of the Company is described in
         Section 11(c)(iii) hereof, then (i) the Board, or Committee if one has
         been appointed, shall use its best efforts to cause the acquiring or
         successor entity to either assume all outstanding Options granted
         hereunder or to replace all outstanding Options granted hereunder with
         comparable options which preserve the spread, exercise period and
         vesting periods of such Options; (ii) all outstanding Options granted
         hereunder that are not so assumed or replaced with comparable options
         shall become exercisable in full immediately prior to, and conditioned
         upon, the closing of the transaction (a "Corporation Transaction") the
         approval of which resulted in a

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         Change in Control described in Section 11(c)(iii) hereof and written
         notice of such acceleration shall be given to the holder of all
         non-assumed or non-replaced Options at least ten (10) days prior to the
         date of the closing of the Corporation Transaction; and (iii) all
         outstanding Options granted hereunder shall automatically terminate
         upon the closing of the Corporation Transaction.

                  (c) "CHANGE IN CONTROL" means a change in control of the
         Company as a result of the occurrence of any of the following events:

                           (i) any person (as such term is used in Sections
                  13(d) and 14(d) of the Exchange Act) other than an Exempt
                  Person (an "Acquiring Person") is or becomes the beneficial
                  owner, directly or indirectly, of Shares of the Company
                  representing more than fifty percent (50%) of the combined
                  voting power of the Company's then outstanding voting
                  securities, other than either in connection with an issuance
                  of Shares or series of related issuances of Shares approved by
                  the Board (which Board must include at least a majority who
                  were Continuing Directors and which transaction or series of
                  related transactions must have been approved by a majority of
                  the Continuing Directors) or as the result of the reduction in
                  the number of issued and outstanding Shares pursuant to a
                  transaction or series of related transactions approved by the
                  Board;

                           (ii) there shall cease to be a majority of the Board
                  comprised of Continuing Directors; or

                           (iii) (A) the stockholders of the Company approve a
                  merger or consolidation of the Company with any other entity,
                  other than a merger or consolidation which would result in the
                  voting securities of the Company outstanding

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                  immediately prior thereto continuing to represent more than
                  fifty percent (50%) of the combined voting power of the voting
                  securities of the Company or such surviving entity outstanding
                  immediately after such merger or consolidation, or (B) the
                  stockholders of the Company approve a plan of complete
                  liquidation of the Company or an agreement for the sale or
                  disposition by the Company of all or substantially all the
                  Company's assets (other than to a more than fifty percent
                  (50%) subsidiary or other controlled person of the Company).

                  (d) For purposes of this Agreement, the term "Exempt Person"
         means the Company, any Subsidiary thereof, any employee benefit plan of
         the Company or any Subsidiary thereof, any entity holding shares of
         common stock for or pursuant to the terms of any such plan, and any
         stockholder as of the close of business on the date hereof.

                  (e) For purposes of this Agreement, the term "Continuing
         Director" means a director of the Company who is not an Acquiring
         Person or an affiliate or associate thereof or any of their
         representatives and who was either a director of the Company before any
         person become an Acquiring Person or whose nomination or election to
         the board was recommended or approved by a majority of the then
         Continuing Directors or by an Exempt Person.

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         12.      TAXES.

                  (a) The Company shall have the right to require a person
         entitled to receive Shares pursuant to the exercise of this Option to
         pay the Company the amount of any taxes which the Company is or will be
         required to withhold with respect to such Shares before the certificate
         for such Shares is delivered pursuant to the Option or the Company may
         elect to deduct such taxes from any other amounts then payable in cash
         or in shares or from any other amounts payable any time thereafter to
         the Consultant.

                  (b) Subject to Board approval, or Committee approval if one
         has been appointed, the Consultant may satisfy his tax liability with
         respect to the exercise of the Option by having the Company withhold
         Shares otherwise issuable upon exercise of the Option; provided,
         however, that if the Consultant is subject to Section 16(b) of the
         Exchange Act at the time of exercise, such election must satisfy the
         requirements of Rule 16b-3.

         13. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION. In the event of changes
in all of the outstanding Shares by reason of stock dividends, stock splits,
reclassifications, recapitalizations, mergers, consolidations, combinations, or
exchanges of shares, separations, reorganizations, liquidations, or similar
events, or in the event of extraordinary cash or non-cash dividends being
declared with respect to the Shares, or similar transactions or events, the
number and class of Shares subject to the Option hereby granted, the option
price and all of the other applicable provisions thereof shall be
correspondingly equitably adjusted by the Board, or the Committee if one has
been appointed (which adjustment may, but need not, include payment to the
holder of the Option, in cash or in shares, in an amount equal to the difference
between the option price and the then current Fair Market Value of the Shares
subject to the Option as equitably determined by the Board or the

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Committee, as the case may be), as it shall decide in its sole discretion. Any
such adjustment may provide for the elimination of any fractional share which
might otherwise be subject to the Option.

         14. DELIVERY OF SHARES ON EXERCISE. Delivery of certificates for Shares
pursuant to the exercise of the Option may be postponed by the Company for such
period as may be required for it with reasonable diligence to comply with any
applicable requirements of any federal, state or local law or regulation or any
administrative or quasi-administrative requirement applicable to the sale,
issuance, distribution or delivery of such Shares. The Board, or the Committee
if one has been appointed, may, in its sole discretion, require the holder of
the Option to furnish the Company with appropriate representations and a written
investment letter prior to the exercise of the Option or the delivery of any
Shares pursuant to the Option.

         15. INVALIDITY OF PROVISIONS. The invalidity or unenforceability of any
provision of this Agreement as a result of a violation of any state or federal
law, or of the rules or regulations of any governmental regulatory body, or any
securities exchange shall not affect the validity or enforceability of the
remainder of this Agreement.

         16. WAIVER AND MODIFICATION. The provisions of this Agreement may not
be waived or modified unless such waiver or modification is in writing and
signed by the parties hereto.

         17. INTERPRETATION. All decisions or interpretations made by the Board,
or the Committee if one has been appointed, with regard to any question arising
under this Agreement shall be binding and conclusive on the Company and the
Consultant.

         18. MULTIPLE COUNTERPARTS. This Agreement may be signed in multiple
counterparts, all of which when taken together shall constitute an original
agreement. The execution by one party of any counterpart shall be sufficient
execution by that party, whether or not the same counterpart has been executed
by any other party.

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         19. GOVERNING LAW. This Agreement shall be governed by the laws of the
State of Delaware.

         IN WITNESS WHEREOF, the Company has caused this Agreement to be duly
executed by its officers thereunto duly authorized, and the Consultant has
hereunto set his hand, all as of the day and year first above written.

                                 FANZ ENTERPRISES, INC.

                                 By: /s/ Frederick L. McDonald II
                                    -----------------------------------------
                                    Frederick L. McDonald II, Vice President

                                 /s/ Michael J. Wurtsbaugh
                                 --------------------------------------------
                                 Michael J. Wurtsbaugh, Consultant

                                       12<PAGE>   1
                                                                  Exhibit 10(vi)

                         JACKSON ROSCOE MOTORSPORTS, LLC
                                5419 CAYMAN DRIVE
                                    SUITE 100
                              CARMEL, INDIANA 46033

March 5, 2001

Sharp Racing, Inc.
8957 Harris Road
Concord, North Carolina  28027

RE:      LEASE OF FACILITY LOCATED AT 8957 HARRIS ROAD, CONCORD, NORTH CAROLINA
         28027

Dear Mr. Sharp:

This letter of intent ("Letter") sets forth a non-binding understanding and
proposal for the lease by Jackson Roscoe Motorsports, LLC or its nominee or
designee ("Tenant") of the Leased Premises, as defined below, from Sharp Racing,
Inc. ("Landlord") on and subject to the terms set forth below:

         1.       PROPERTY.

                  Tenant shall lease from Landlord the space, land and related
improvements thereto (all of which are collectively referred to as the "Leased
Premises") consisting of approximately five thousand two hundred (5,200) square
feet of usable shop space and approximately eight hundred (800) square feet of
usable office space and that certain warehouse building with a street address of
8957 HARRIS ROAD, CONCORD, NORTH CAROLINA 28027 (hereinafter referred to as the
"Building") located on the real property described on EXHIBIT A attached hereto
and made a part hereof (hereinafter referred to as the "Land") together with the
right to use, in common with other tenants of the Building, the common areas and
racing tools, machinery, equipment and transporter (the "Equipment"). The Land,
Building and common areas, all improvements and the Equipment are herein
collectively referred to as the "Property".

         2.       RENT.

                  (a) During the initial term or any  extension  term of the
lease the rental for the Property shall be Five Thousand Dollars ($5,000.00) per
month;

                  (b) The lease shall be an absolute gross lease to the Tenant
with the Landlord responsible for any and all costs and expenses relating to the
Leased Premises. Landlord, at its sole cost and expense, shall pay, when due,
all ground rents, real estate taxes and assessments and all utility charges
levied or assessed against the Property.

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Mr. Eddie Sharp
March 5, 2001
Page 2

         3.       TERM.

                  (a) The commencement of the lease is contingent upon Tenant
raising, obtaining possession of, and obtaining unrestricted use of equity
capital in the amount of at least Ten Million Dollars ($10,000,000.00) and
Tenant and Landlord entering into a mutually-agreeable form of lease;

                  (b) The initial term of the lease shall be a period of one
(1) year;

                  (c) Tenant shall have the right to extend the initial term of
the lease for three (3) consecutive periods of one (1) year each, upon the same
terms and conditions.

         4.       USE.

                  Tenant shall use the Leased Premises for conducting Tenant's
operations as an automobile racing team, including, without limitation,
building, repairing and maintaining racing automobiles, storage and office uses
and for any other lawful purposes as may be incidental to such uses.

         5.       REPAIRS AND MAINTENANCE.

                  (a) Landlord shall, at Landlord's sole cost and expense,
perform all necessary or appropriate maintenance, repairs and replacements, to
the Property, except for repairs made necessary by the misuse or neglect of
Tenant, or Tenant's agents that are not covered by any policy of insurance
carried by Landlord;

                  (b) Tenant shall, at Tenant's sole cost and expense, make
repairs to the Property that may be required due solely to the misuse of Tenant.

         6.       SERVICES.

                  (a) As part of the consideration for the payment of Rent by
Tenant, Landlord shall furnish, supply and properly maintain at all times the
following services and utilities without charge to Tenant:

                           (1) Heating, ventilating and air-conditioning at all
         times as required for the comfortable use and occupancy of the Leased
         Premises, including operation and maintenance of such heating,
         ventilating and air conditioning; and

                           (2) Water, sewer and electricity required by Tenant
         in Tenant's use of the Leased Premises; and

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Mr. Eddie Sharp
March 5, 2001
Page 3

                  (b) Tenant shall have the right directly to contract, at
Tenant's sole cost and expense, with one or more utility providers or services
for utility facilities, equipment and/or services to the Leased Premises.

                  7.       INSURANCE.

                           (a)      Tenant shall, at Tenant's expense, obtain
and keep in force during the term of this Lease a policy of commercial general
liability insurance; with such endorsements and coverage limits typically
carried for such Premises and Uses;

                           (b)      Landlord shall, at Landlord's sole cost
and expense, obtain and keep in force during the term of this Lease an
occurrence-based policy of commercial general liability insurance and so-called
"special form" policy or policies of property insurance, with such endorsements
and coverage limits typically carried for such Premises and Uses.

Very truly yours,

JACKSON ROSCOE MOTORSPORTS, LLC

By: /s/ J. Roe Hitchcock
   ----------------------------------
Print Name:  J. Roe Hitchcock
           --------------------------
Its:  Managing Member
    ---------------------------------

The terms of the foregoing letter of intent are hereby accepted and agreed to
this 7 day of March, 2001.

SHARP RACING, INC.

By:  /s/ Eddie Sharp
    ---------------------------------
Print Name:  Eddie Sharp
           --------------------------
Its:  Vice President
      -------------------------------

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