<PAGE>

                       GART BROS. SPORTING GOODS COMPANY

                           DEFERRED COMPENSATION PLAN


     GART BROS. SPORTING GOODS COMPANY, incorporated under the laws of the State
of Colorado, (hereinafter referred to as the "Company"), hereby establishes the
Gart Bros. Sporting Goods Company Deferred Compensation Plan (the "Plan")
effective as of January 1, 1999. The Company intends to provide, under the Plan,
certain of its Key Employees with benefits upon retirement, death, disability or
other termination of employment, for the purpose of promoting in its Key
Employees the strongest interest in the successful operation of the Company and
to induce such employees to remain in the employ of the Company.

                                   ARTICLE I

                                  Definitions
                                  -----------

     1.01  Administrative Committee shall mean the committee appointed pursuant
           ------------------------
to Article VIII of the Plan.

     1.02  Adoption Agreement shall mean a written agreement between a
           ------------------
Participant and the Company, whereby a Participant agrees to defer a portion of
his or her Compensation pursuant to the provisions of the Plan, and the Company
agrees to make benefit payments in accordance with the provisions of the Plan.

     1.03  Beneficiary shall mean any person, persons or entities designated by
           -----------
a Participant to receive benefits hereunder upon the death of such Participant.

     1.04  Benefit Account shall mean the account maintained on the books of the
           ---------------
Company for each Participant pursuant to Section 6.01 hereof.

     1.05  Change of Control shall mean the acquisition of beneficial ownership,
           -----------------
after the Effective Date, directly or indirectly, of more than fifty percent
(50%) of the voting power of the outstanding common stock of the Company, by any
person, group, association, corporation or other entity.

     1.06  Code shall mean the Internal Revenue Code of 1986, as amended.
           ----

     1.08  Bonus Contributions shall mean deferral of bonus Compensation by
           -------------------
Participant as provided in Article III of the Plan.

     1.09  Company shall mean Gart Bros. Sporting Goods Company, a Colorado
           -------
corporation and its Subsidiaries and Affiliates, if any.
<PAGE>

          1.10  Compensation  shall mean the total amount of all payments made
                ------------
by the Company to a Participant, including payment of bonus, for services
rendered to the Company. Compensation shall not include Participant expense
reimbursements, contributions made by the Company under the Plan, payments made
by the Company for group insurance, hospitalization and like benefits, or
contributions made by the Company under any other employee benefit plan the
Company maintains. Any deferred compensation benefit payments under this Plan
shall not be deemed salary or other compensation to the Participant eligible for
computation of benefits to which they may be entitled under the Section 401(k)
Plan, or other qualified retirement plans of the Company for the benefit of its
employees. The deferred compensation benefit payments are compensation for all
other purposes.

          1.11  Deferral Contribution  shall mean deferral of Compensation by a
                ---------------------
Participant as provided in Article III of the Plan.

          1.12  Deferral Period  shall mean the period of time during which
                ---------------
Compensation is being deferred pursuant to Article III of the Plan.

          1.13  Deferral Change Date  shall mean, for purposes of changing the
                --------------------
amount of Deferral Contributions under the Plan, January 1 of each Plan Year.

          1.14  Determination Date  shall mean the last day of the Plan Year.
                ------------------

          1.15  Disability  shall mean, for the first two (2) years of the
                ----------
Disability, that the Participant can not substantially perform the duties of the
Participant's occupation. After the first two (2) years of Disability,
Disability shall mean the Participant can not work at any occupation for which
the Participant is fitted by education, training or experience as determined by
the Administrative Committee. In addition, Disability shall exist if the
Participant has total and permanent loss of sight of both eyes; or has both
hands severed at or above the wrist; or has both feet severed at or above the
ankle; or has such severance of one hand and one foot. The Participant shall be
considered disabled if the aforementioned conditions are caused by sickness or
accident; are continuous for at least six (6) months; and begin after the
execution of the Adoption Agreement, and is determined to be totally disabled by
the insurance carrier under the Company's Long Term Disability Plan. However
Disability hereunder shall not be deemed to include Disability resulting
directly from willfully and intentionally self-inflicted injury.

          1.16  Disallowed 401(k) Contributions shall mean deferral of
                -------------------------------
Compensation by a Participant as provided in Article III of the Plan.

          1.17  Effective Date of this Plan shall be January 1, 1999.
                --------------

          1.18  Hardship  shall mean an unforeseen financial emergency suffered
                --------
by a participant. The financial emergency must be beyond the Participant's
control and must be of sufficient magnitude to cause the Participant great
hardship if early withdrawal of Participant's benefits were not allowed or if a
change in participant's Stated Deferral was not allowed.  Any early

                                      -2-
<PAGE>

withdrawal by reason of Hardship shall be limited to the amount necessary to
meet the financial emergency.

          1.19  Investment Measurement Options  shall mean the investment
                ------------------------------
elections made by the Participant on the form provided for that purpose by the
Administrative Committee.  The Committee in its discretion may determine
appropriate equity and fixed income investments for all categories of
contributions to the Plan.

          1.20  Key Employees  shall mean all employees of the Company who are
                -------------
performing services for the Company, who are designated as Key Employees by the
Administrative Committee.  A person designated as a Key Employee shall remain so
until such designation is revoked by the Administrative Committee, in its sole
discretion.

          1.21  Normal Retirement Age  shall mean age 65.
                ---------------------

          1.22  Normal Retirement Date  shall mean the first day of the month
                ----------------------
after a Participant attains Normal Retirement Age and actually retires.

          1.23  Participant  shall mean a Key Employee of the Company who has
                -----------
completed an Adoption Agreement accepted by the Administrative Committee as
evidenced by an authorized signature.

          1.24  Plan Entry Date shall mean the Effective Date and the first day
                ---------------
of each Plan Year.

          1.25  Plan Year  shall mean the twelve-month period on which the plan
                ---------
records are kept, which shall begin on January 1 and end on December 31 of each
Plan Year.

          1.26  Retirement shall mean a Participant's termination of employment
                ----------
after reaching Normal Retirement Age.

          1.27  Section 401(k) Plan  shall mean the qualified Section 401(k)
                -------------------
Profit-Sharing Plan maintained by the Company which is qualified under Section
401(a) of the Code.

          1.28  Service  shall mean the period of time from the date of
                -------
employment by the Company to the date of Retirement or termination of employment
with the Company.

          1.29  Stated Deferral  shall mean the amount of Compensation the
                ---------------
Participant agrees to defer as designated on the Withholding Request Form.

          1.30  Subsidiaries and Affiliates  shall mean any corporation or other
                ---------------------------
employer during any period while it is, together with the Company, a member of a
controlled group of corporations or an affiliated service group under common
control (within the meaning of Section 414(b), (c) or (m) of the Code).

                                      -3-
<PAGE>

          1.31  Successor Company  shall mean any company which adopts this Plan
                -----------------
for any former employees of Company who become employees of a Successor Company
under a plan of reorganization.

          1.32  Termination of Employment  shall mean the Participant's ceasing
                -------------------------
to be employed by the Company for any reason whatsoever, voluntary or
involuntary, including by reason of death or Disability.

          1.33  Withholding Request Form  shall mean a written document signed
                ------------------------
by the Participant, whereby the Participant states the amount of Disallowed
401(k) Deferrals and Deferral Contributions to be made for the Plan Year.

          1.34  Year of Service shall mean a twelve (12) consecutive month
                ---------------
period beginning on the later of the Effective Date of the Plan or Participant's
date of employment with Company, and each anniversary thereof during which
Participant is employed on a full-time basis by Company. A Participant with a
Disability shall be considered to be employed on a full-time basis by Company
for purposes of computing years of service.

                                  ARTICLE II

                         Eligibility and Participation
                         -----------------------------

          2.01  Participation.  From time to time the Administrative Committee,
                -------------
in its sole discretion, may designate those Key Employees to whom the
opportunity to participate in this Plan shall be extended.

          2.02  Enrollment Requirements.  Key Employees who have been selected
                -----------------------
by the Administrative Committee to participate in this Plan may enroll in the
plan by (a) entering into an Adoption Agreement with the Company, and (b)
completing such other forms and furnishing such other information as the Company
may reasonably require.

          2.03  Enrollment Time Period.  A Key Employee must execute an Adoption
                ----------------------
Agreement within thirty (30) days after adoption of the Plan by the Company.
Otherwise, the Key Employee must execute an Adoption Agreement thirty (30) days
prior to the Plan Entry Date of the Plan Year in which the Agreement is to be
effective.

          2.04  Failure of Eligibility.  A Participant shall cease to be a
                ----------------------
Participant at Termination of Employment (unless the Participant qualifies for
benefits set forth in Article VI), or upon revocation by the Administrative
Committee of the Participant's status as a Key Employee.  A person who ceases to
be a Participant during the Deferral Period will have no further right to defer
Compensation hereunder.  However, the employment of a Participant shall not be
deemed to be terminated by reason of an approved leave of absence granted in
accordance with uniform rules applied in a non-discriminatory manner by the
Company.

                                      -4-
<PAGE>

                                  ARTICLE III

                           Participant Contributions
                           -------------------------

     3.01 Disallowed 401(k) Contributions.  Each Participant may elect to defer
          -------------------------------
a portion of his or her Compensation which is equal to the amount that the
Participant was unable to defer pursuant to the Company's Section 401(k) Plan
because such deferrals would otherwise violate the deferral percentage
requirements of Section 401(k) of the Code.  The amount that may be deferred
pursuant to this paragraph is the difference between the annual deferral
limitation set forth in Section 402(g) of the Code (for the 1999 calendar year
in the amount of $10,000) and the amount actually deferred by the Participant
under the Company's Section 401(k) Plan.  The Participant must defer the largest
amount possible under the Company's Section 401(k) Plan before the Participant
qualifies to make deferrals pursuant to this paragraph.

     3.02 Deferral Contributions.  Each Participant hereunder may elect a
          ----------------------
Deferral Contribution of a portion of his or her Compensation earned and payable
on or after the Effective Date of this Plan and before the commencement of the
pay period in which the election becomes effective.  Deferral Contributions may
not exceed fifteen percent (15%) of Compensation, excluding Bonus Compensation.

     3.03 Bonus Contributions.  Each Participant may elect a Bonus Contribution
          -------------------
of a portion of his or her bonus earned and payable on or after the Effective
Date of this Plan.  A Participant may elect to defer up to fifty percent (50%)
of any bonus payable to them.

  3.04    Limitation on Contributions.  The total amount of Disallowed 401(k)
          ---------------------------
Contributions and Deferral Contributions during any Plan Year may not exceed 15%
of each Participant's Compensation.  Bonus Contributions are not subject to this
limitation.

     3.05 Subsequent Deferral and Bonus Contributions.  Subsequent to the
          -------------------------------------------
initial deferrals provided for in Sections 3.02 and 3.03 above, a Participant
may from time to time elect to increase or decrease the amount of Compensation
or bonus deferred in pay periods which commence on or after the next Deferral
Change Date which follows such subsequent election.

     3.06 Procedure for Deferral.  The initial election provided for in Sections
          ----------------------
3.02 and 3.03 and any subsequent election or elections provided for in Section
3.05 shall be made on the Withholding Request Form provided by the
Administrative Committee for that purpose.  Except as provided in Section 3.05,
the amount specified in the election shall be deferred and shall be subtracted
from the Compensation and bonus otherwise payable to the Participant during the
period in which the election is in effect.

     3.07 Election to Defer Irrevocable;  Exceptions.  Except as otherwise
          ------------------------------------------
provided herein, a Participant's election to defer compensation shall be
irrevocable except for changes allowed at each Deferral Change Date.  The
Administrative Committee, in its sole discretion, upon demonstration of a
substantial Hardship by the Participant, may permit subsequent alteration on a
date other than such Deferral Change Date of a Participant's deferral election.
A request to alter

                                      -5-
<PAGE>

the amount of Compensation deferred shall be submitted by Participant in writing
to the Administrative Committee. The application shall set forth in detail the
reasons for the requested reduction.


                                   ARTICLE IV

                             Company Contributions
                             ---------------------

     4.01 Company Discretionary Contributions.  For each Plan Year, the Company
          -----------------------------------
may, in its sole discretion, make a contribution to each Participant's Benefit
Account in a dollar amount to be determined by Company.

     4.02 Company Matching Contributions.  The Company shall make a matching
          ------------------------------
contribution to each Participant's Disallowed 401(k) Contributions not to exceed
the total Company matching contributions in a manner similar to and under the
same rules as the matching contribution formula under the Section 401(k) Plan
sponsored by the Company.


                                   ARTICLE V

                       Unfunded Status and Life Insurance
                       ----------------------------------

     5.01 Unfunded Status.  All benefits payable under this Plan shall be paid
          ---------------
as they become due and payable by the Company out of its general assets.  In the
event the Company, in its sole discretion, decides to fund all or any part of
the benefits payable under this Plan with contributions to a separate fund, the
Company shall maintain separate accounts for each Participant to which such
contributions are allocated.  Nothing contained in this Plan shall be deemed to
create a trust of any kind for the benefit of the Participants or create any
fiduciary relationship between the Company and the Participants or their
Beneficiaries.  To the extent that any person acquires a right to receive
benefits under this Plan, such rights shall be no greater than the right of any
unsecured general creditor of the Company.

     5.02 Life Insurance.  The Company's obligation under this Plan shall be an
          --------------
unfunded and unsecured promise to pay.  The Company shall not be required to
fund its obligations, but the Company, in its sole discretion, may apply for and
own for its own benefit, insurance on the life of a Participant in such amounts
and in such forms as the Company may choose.  The Participant shall have no
interest whatsoever in any such policy or policies, but at the request of the
Company shall submit to medical examinations and shall accurately and truthfully
supply such information and execute such documents as may be required by the
insurance company or companies to whom the Company has applied for insurance.
The Company shall be under no obligation to provide the benefits in Article VII
of this Plan if the Participant fails to comply with these provisions.  Any
insurance policy acquired by or held by the Company in connection with the
liabilities assumed by it pursuant to the Plan shall not be deemed to be held
under any trust for the benefit of the Participant, the Participant's
Beneficiary or estate, or to be security for the

                                      -6-
<PAGE>

performance of the obligations of the Company but shall be, and remain, a
general, unpledged and unrestricted asset of the Company.

                                  ARTICLE VI

                    Participant Benefit Account And Vesting
                    ---------------------------------------

     6.01 Benefit Account.  The Company shall establish a Benefit Account on its
          ---------------
books for each Participant, and shall credit to each Participant's Benefit
Account the following amounts at the times specified:

      (a) Participant Disallowed 401(k) Contributions. The amount of
          -------------------------------------------
Compensation the Participant elects to defer pursuant to Article III of the
Plan, credited as of the month the Participant would otherwise have received the
Compensation reduced by any current Plan Year distributions as of the month the
distribution was made.  The Company shall deduct from Participant's Compensation
any amounts it, in its sole discretion, determines that it is required to
withhold under any state or federal law for taxes or other charges.

      (b) Participant Deferral Contributions.  The amount of Compensation the
          ----------------------------------
Participant elects to defer pursuant to Article III of the Plan, credited as of
the month the Participant would otherwise have received the Compensation reduced
by any current Plan Year distributions as of the month the distribution was
made.  The Company shall deduct from Participant's Compensation any amounts it,
in its sole discretion, determines that it is required to withhold under any
state or federal law for taxes or other charges;

      (c) Participant Bonus Contributions. The amount of bonus the Participant
          -------------------------------
elects to defer pursuant to Article III of the Plan, credited as of the month
the Participant would otherwise have received the bonus reduced by any current
Plan Year distributions as of the month the distribution was made.  The Company
shall deduct from Participant's Compensation any amounts it, in its sole
discretion, determines that it is required to withhold under any state or
federal law for taxes or other charges;

      (d) Company Discretionary Contributions.  The amount of Company
          -----------------------------------
Discretionary Contributions made pursuant to Article IV of the Plan, credited as
of the Determination Date of the applicable Plan Year;

      (e) Company Matching Contributions.  The amount of Company Matching
          ------------------------------
Contributions made pursuant to Article IV of the Plan, credited as of the month
of contribution; and

      (f) Earnings Credited.  As of each Determination Date, the earnings for
          -----------------
each Benefit Account for the current Plan Year shall be credited.  The earnings
shall be accrued monthly and compounded annually based upon the income and
unrealized gain or loss of the Investment Measurement Options selected by the
Participant for the Plan Year (the "Earnings").

                                      -7-
<PAGE>

     A Participant's Benefit Account shall be utilized solely as a device for
the measurement and determination of the amounts to be paid to the Participant
pursuant to this Plan.  A Participant's Benefit Account shall not constitute or
be treated as a trust fund of any kind.  All benefits payable under this Plan
shall be paid as they become due and payable by the Company out of its general
assets.

     6.02 Account Balance.  Each Participant's Account Balance as of  each
          ---------------
Determination Date shall consist of the balance of the Participant's Benefit
Account as of the immediately preceding Determination Date plus the amounts
required to be credited to such account by the Company pursuant to Section 6.01
less the amount of all distributions, if any, made from such Benefit Account
since the immediately preceding Determination Date.

     6.03 Statement of Account.  The Administrative Committee shall provide to
          --------------------
each Participant, within 120 days after the close of each Plan Year, a statement
in such form as the Administrative Committee deems desirable setting forth the
balance to the credit of such Participant in his Benefit Account as of the last
day of the preceding calendar year.

     6.04 Vesting of Benefit Account.  Contributions made to this Plan shall be
          --------------------------
vested as follows:
          (a) Participant Contributions.  Participant contributions to the Plan,
              -------------------------
meaning Participant Disallowed 401(k) Contributions, Participant Deferral
Contributions and Participant Bonus Contributions, including all earnings
thereon, shall be 100% nonforfeitable at all times.

          (b) Company Discretionary Contributions.  The vesting of Company
              -----------------------------------
Discretionary Contributions shall be determined as specified in the Adoption
Agreement.

          (c) Company Matching Contributions.  The vesting of Company Matching
              ------------------------------
Contributions shall be determined as specified in the Adoption Agreement.

                                  ARTICLE VII

                              Payment of Benefits
                              -------------------

     7.01 Benefit Payments Prior to Termination of Employment.  Participant
          ---------------------------------------------------
Disallowed 401(k) Contributions, Deferral Contributions, Bonus Contributions and
Company Matching Contributions shall be distributed to the Participant upon
Retirement, attainment of Normal Retirement Age or further delayed, as elected
in the Adoption Agreement.  Participants may elect to receive distribution of
such Benefit Payments prior to Termination of Employment ("In-Service
Distributions") on a form to be provided by the Administrative Committee.
Amounts elected for In-Service Distributions must (1) have remained in the Plan
for at least one (1) Plan Year before distribution, measured from the beginning
of the Plan Year in which such contributions were allocated and (2) such
election form must be received by the Administrative Committee prior to the
beginning of the Plan Year to which such In-Service Distribution is requested.
Company Discretionary Contributions shall be distributed to the Participant
after such contributions have remained in the Plan for at least one (1) year,
measured from the beginning of

                                      -8-
<PAGE>

the initial Plan Year in which such contributions are allocated, unless the
Participant elects to further defer distribution of such contributions in the
manner specified herein.

     7.02 Benefit Payments Upon Termination of Employment.  Upon a Participant's
          -----------------------------------------------
termination of employment for any reason, voluntary or involuntary, including by
reason of Disability or Death, the Participant shall receive a benefit based
upon the vested portion of the Participant's Benefit Account. The Benefit
Account shall be increased by its Earnings from the immediately preceding
Determination Date to the date of termination of employment (the "Adjusted
Benefit Account"). The benefit shall be payable in lump sum or installments. The
form, timing and term of the benefit shall be selected by the Participant in his
or her Adoption Agreement.

     7.03 Survivor Benefit Before Termination of Employment.  If a Participant
          -------------------------------------------------
dies before commencement of benefits while this Plan is in force and before
termination of employment, the Participant's designated Beneficiary shall
receive a benefit equal to the Participant's Adjusted Benefit Account.  The form
and term of the benefit shall be selected by the Participant in his or her
Adoption Agreement.

     7.04 Survivor Benefit After Termination of Employment.  If a Participant
          ------------------------------------------------
dies before commencement of benefits while this Plan is in force and after
termination of employment, the Participant's designated Beneficiary shall
receive a benefit equal to the Adjusted Benefit Account. The form and term of
the benefit shall be selected by the Participant in his or her Adoption
Agreement.

     7.05 Survivor Benefit After Commencement of Payments.  If a Participant
          -----------------------------------------------
dies while receiving benefits herein described but before receiving all monthly
payments he or she is entitled to receive under the Adoption Agreement, the
balance of such monthly payments shall be paid as they accrue to the
Participant's Beneficiary, and the estate of such Beneficiary if the Beneficiary
dies before receiving all payments.  Payments to the estate of such Beneficiary
may be converted to lump sum if so elected on the Adoption Agreement.

     7.06 Hardship Distribution.  The Administrative Committee may, under
          ---------------------
uniform and non-discriminatory rules, upon finding that a terminated Participant
has suffered a Hardship or is suffering a Hardship as defined in Section 1.18,
distribute to such terminated Participant all or a portion of the vested Account
Balance.  The amount of any early distribution shall not exceed the amount
required to meet such Hardship and is not reasonably  available from other
resources of the Participant.

     7.07 Employment by a Successor Company.  If the Participant terminates
          ---------------------------------
employment with the Company under a plan of reorganization in which the
Participant is employed by a Successor Company, the Participant will be eligible
for all accrued benefits under the Plan measured as of the date of such
reorganization.

     7.08 Recipients of Payments:  Designation of Beneficiary.  All payments to
          ----------------------------------------------------
be made by the Company shall be made to the Participant, if living.  In the
event of a Participant's death prior

                                      -9-
<PAGE>

to the receipt of all benefit payments, all subsequent payments to be made under
the Plan shall be to the Beneficiary or Beneficiaries of the Participant. Each
Participant shall file in writing with the Company a designation of Beneficiary
and contingent Beneficiary to whom the Participant's interest under the Plan
shall be paid in the event of death. Such designation may be changed by the
Participant at any time and without the consent of any previously designated
Beneficiary. In the absence of an effective Beneficiary designation as to any
portion of a Participant's interest under the Plan or if the Beneficiary cannot
be located, such amount shall be paid to the Participant's personal
representative. But if the Company believes that none has been appointed within
six months after the Participant's death, the Company may direct that such
amount shall not be paid until a personal representative has been appointed or
may direct that such amount be paid to the Participant's surviving spouse, or if
there is none, to the Participant's surviving children and issue of deceased
children by right of representation, or if there be none, the Participant's
surviving parents and if none, according to the laws of descent and distribution
of the State of Colorado.

In the event a benefit is payable to a minor or person declared incompetent or
incapable of handling the disposition of his or her property, the Administrative
Committee may pay such benefit to the guardian, legal representative or person
having the care or custody of such minor, incompetent or incapable person.  The
Administrative Committee may require proof of incompetency, minority
guardianship as it may deem appropriate prior to distribution of the benefit.
Such distribution shall completely discharge the Company from all liability with
respect to such benefit.

                                 ARTICLE VIII

                                Administration
                                --------------

     8.01 Administrative Committee.  The Plan shall be administered, interpreted
          ------------------------
and enforced by the Administrative Committee in accordance with its terms and
purposes.  The Administrative Committee shall be appointed by an officer of the
Company and shall consist of three (3) or more persons to act on behalf of the
Company.  Interpretation by the Administrative Committee shall be final and
binding upon a Participant except for the procedure set forth in Section 8.03.
No further appeal from a decision on review shall be permitted.  The
Administrative Committee shall select the participating Key Employees and
determine the assumptions to be used in computing benefits under the Plan.  The
Administrative Committee may adopt rules and regulations relating to the Plan as
it may deem necessary or advisable for the administration of the Plan.  No
member of the Committee may act, vote or otherwise influence a decision of the
Committee specifically relating to his or her own participation in the Plan.  In
the administration of this Plan, the Committee may, from time to time, employ
agents and delegate to them such administrative duties as it sees fit and may,
from time to time, consult with counsel who may be counsel to the Participant.

     8.02 Committee Procedure.  All determinations of the Committee shall be
          -------------------
made by not less than a majority of its members present at the meeting at which
a quorum is present.  A majority of the entire Committee shall constitute a
quorum for the transaction of business.  Any

                                      -10-
<PAGE>

action required or permitted to be taken at a meeting of the Committee may be
taken without a meeting, if a unanimous written consent which sets forth the
action is signed by each member of the Committee and filed with the minutes of
proceedings of the Committee. Service on the Committee shall constitute services
as a director of the Company so that members of the Committee shall be entitled
to indemnification and reimbursement for their services as members of the
Committee to the same extent as for services as directors of the Company.

     8.03 Claim Procedures.
          ----------------

          (a) All claims shall be filed in writing by the Participant, his or
her Beneficiary or the authorized representative of the claimant, by completing
such procedures as the Administrative Committee shall require.  Such procedures
shall be reasonable and may include the completion of forms and the submission
of documents and additional information.

          (b) If a claim is denied, notice of denial shall be furnished by the
Administrative Committee to the claimant within ninety (90) days after the
receipt of the claim by the Administrative Committee, unless special
circumstances require an extension of time for processing the claim, in which
event notification of the extension shall be provided to the Participant or
Beneficiary and the extension shall not exceed ninety (90) days.

          (c) The Administrative Committee shall provide adequate notice, in
writing, to any claimant whose claim has been denied, setting forth the specific
reasons for such denial, specific reference to pertinent Plan provisions, a
description of any additional material or information necessary for the claimant
to perfect his or her claim and an explanation of why such material or
information is necessary, all written in a manner calculated to be understood by
the claimant. Such notice shall include appropriate information as to the steps
to be taken if the claimant wishes to submit his or her claim for further
review.  The claimant or the claimant's authorized representative must request
such review within a reasonable period of time prescribed by the Administrative
Committee.  In no event shall such period of time be less than sixty (60) days.
A decision on review shall  be made not later than sixty (60) days after the
Company's receipt of the request for review.  If special circumstances require a
further extension of time for processing, a decision shall be rendered not later
than one hundred twenty (120) days following the Company's receipt of the
request for review.  If such an extension of time for review is required,
written notice of the extension shall be furnished to the claimant prior to the
commencement of the extension.  The decision on review shall be furnished to the
claimant.  Such decision shall be in writing and shall include specific reasons
for the decision, written in a manner calculated to be understood by the
claimant, as well as specific references to pertinent Plan provisions on which
the decision is based.

                                      -11-
<PAGE>

                                  ARTICLE IX

                                 Miscellaneous
                                 -------------

     9.01 Employment Not Guaranteed by Plan.  Neither the Plan nor any action
          ---------------------------------
taken hereunder shall be construed as giving a Participant the right to be
retained as a Key Employee or as an employee of the Company for any period.

     9.02 Amendment and Termination.  The Company may, at any time, amend or
          -------------------------
terminate the Plan, provided that the Company may not reduce or modify the
vested portion of any benefit or any benefit being paid to a Participant or
Beneficiary prior to such amendment or termination.  Furthermore, if the Company
terminates the Plan, the Company shall return to the Participant the amount of
all vested Participant and Company contributions and Earnings on such amounts.
A Successor Company under a plan of reorganization may adopt the Plan for
Participants employed by the Successor Company.  With the approval of the Board
of Directors of the Company, all assets and liabilities may be transferred to
the Successor Company for Participants employed by the Successor Company.

     9.03 Merger/Direct Transfer.  The Plan may enter into merger agreements or
          ----------------------
direct transfer of assets agreements with the representatives of other deferred
compensation or supplemental income plans, and accept the direct transfer of
plan assets, or transfer plan assets, as a party to any such agreement

     9.04 Assignment of Benefits.  No Participant or Beneficiary shall have the
          ----------------------
right to assign, transfer, hypothecate, encumber or anticipate his or her
interest in any benefits under this Plan, nor shall the benefits under this Plan
be subject to any legal process to levy upon or attach the benefits for payment
of any claim against the Participant or his or her Beneficiary.  Any attempted
assignment or transfer by a Participant shall be null and void.  In the event of
any attempted assignment or transfer, the Company shall have no further
liability hereunder.

     9.05 Disposition of Unclaimed Payments.  Each Participant must file with
          ---------------------------------
the Company from time to time, in writing, his or her post office address and
each change of post office address.  The communication, statement or notice
addressed to a Participant at the last post office address filed with the
Company, or if no address is filed with the Company, then at the last post
office address as shown on the Company records, will be binding upon the
Participant and his or her Beneficiaries for all purposes of the Plan.  The
Company shall not be required to search for or locate a Participant or his or
her Beneficiary.

     9.06 Taxes.  The Company shall deduct from all payments made hereunder all
          -----
applicable federal or state taxes that it, in its sole discretion, determines is
required by law to be withheld from such payments.

     9.07 Independence of Benefits.  The benefits payable under this Plan shall
          ------------------------
be independent of, and in addition to, any other benefits or compensation
whether by salary or bonus.

                                      -12-
<PAGE>

     9.08 Governing Law.  This Plan is intended to constitute an unfunded Plan
          -------------
for a select group of management or highly compensated employees and directors
and rights thereunder shall be governed by the laws of the State of Colorado,
except to the extent pre-empted by Federal law.

     9.09 Form of Communication.  Any election, application, claim, notice or
          ---------------------
other communication required or permitted to be made by a Participant to the
Administrative Committee shall be made in writing and in such form as the
Administrative Committee shall prescribe.  Such communication shall be effective
upon mailing, if sent by first class mail, postage pre-paid, and addressed to
the Company's offices at:  P.O. Box 148, 1000 Broadway, Denver, CO 80201.

     9.10 Severability.  If any provision of this Plan is held to be illegal,
          ------------
invalid or unenforceable under present or future laws, such provision shall be
fully severable; this Plan shall be construed and enforced as if such illegal,
invalid or unenforceable provision had never comprised a part of this Plan; and
the remaining provision of this Plan shall remain in full force and effect and
shall not be affected by the illegal, invalid or unenforceable provision or by
its severance from this Plan. Furthermore, in lieu of each such illegal, invalid
or unenforceable provision, there shall be added automatically as part of this
Plan a provision as similar in terms to such illegal, invalid or unenforceable
provision as may be possible and be legal, valid or enforceable.

     9.11 Binding Agreement.  The provisions of this Plan shall be binding upon
          -----------------
the Participant and the Company and their successors, assigns, heirs, executors
and beneficiaries.


     ACCEPTED by the Company on the 1/st/ day of November, 1999.

                                    COMPANY:

                                    Gart Bros. Sporting Goods Company


ATTEST:                             By: /s/ Thomas T. Hendrickson
                                        ------------------------------------
                                    Title: Executive Vice President, Chief
                                           ---------------------------------
                                           Financial Officer and Treasurer
                                           ---------------------------------


/s/ Nesa Hassanein
-------------------
Secretary

                                      -13-