<PAGE>
 
     THE WARRANTS AND THE SHARES OF COMMON STOCK REFERRED TO HEREIN HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 NOR QUALIFIED UNDER APPLICABLE
STATE SECURITIES LAWS IN RELIANCE UPON EXEMPTIONS THEREFROM. THESE WARRANTS MAY
BE ACQUIRED FOR INVESTMENT PURPOSES ONLY AND NOT WITH A VIEW TO DISTRIBUTION OR
RESALE, AND MAY NOT BE SOLD, MORTGAGED, PLEDGED, HYPOTHECATED OR OTHERWISE
TRANSFERRED OR OFFERED TO BE SO TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT FOR SUCH WARRANTS UNDER THE SECURITIES ACT OF 1933 AND THE REGULATIONS
PROMULGATED PURSUANT THERETO (UNLESS EXEMPT THEREFROM), AN OPINION OF COUNSEL,
SATISFACTORY TO THE COMPANY, THAT ANY SUCH TRANSACTION SHALL NOT VIOLATE ANY
FEDERAL OR STATE SECURITIES LAWS, OR THE WRITTEN CONSENT OF THE COMPANY.


                              WARRANT CERTIFICATE
                                        
                         FOR PURCHASE OF COMMON STOCK
                                        
                      200,000 Warrants @ $1.50 Per Share
                                        
                        RENAISSANCE GOLF PRODUCTS, INC.
                            a Delaware corporation
                                        
                     Initial Issuance on October 29, 1997

            Void after 5:00 p.m. California Time, December 31, 2002

     This certifies that for value received AKA Charitable Remainder Unitrust
#1, or registered assigns (the "Registered Holder"), is the owner of 200,000
Common Stock Purchase Warrants (the "Warrants") specified above issued in
accordance with that certain Warrant Agreement dated October 29, 1997 by and
between RENAISSANCE GOLF PRODUCTS, INC., a Delaware corporation (the "Company")
and AKA Charitable Remainder Unitrust #1 (the "Warrant Agreement"). Each Warrant
entitles the Registered Holder to purchase, subject to the terms and conditions
set forth in the Warrant Agreement, one fully paid and nonassessable share of
Common Stock, no par value, of the Company, at any time prior to 5:00 P.M.,
California time, on December 31, 2002 (the "Expiration Date"), upon the
presentation and surrender of this Warrant Certificate with the Subscription
Form on the reverse hereof duly executed, at the Company's office, or its
successor or agent (the "Warrant Agent") accompanied by payment of $1.50 per
share (the "Purchase Price") in lawful money of the United States of America in
cash or by official bank or certified check made payable to the Company at 2919
East Granite Hollow Street, Sandy, Utah 84092 or otherwise in accordance with
the payment provisions of the Warrant Agreement. At the option of the Registered
Holder, the Warrants may be exercised by surrender of this Warrant Certificate
for the Warrant Value (as defined in the Warrant Agreement). The Company will
act as Warrant Agent until further notice to the Registered Holder.

     In the event of certain contingencies provided for in the Warrant
Agreement, the Purchase Price or the number of shares of Common Stock subject to
purchase upon the exercise of each Warrant represented hereby are subject to
modification or adjustment.

     If the Expiration Date shall in the State of California be a holiday or a
day on which the banks are authorized to close, then the Expiration Date shall
mean 5:00 P.M., California time, the next following day which in the State of
California is not a holiday or a day on which banks are authorized to close.

                        RENAISSANCE GOLF PRODUCTS, INC.
                        2919 East Granite Hollow Street
                               Sandy, Utah 84092

                                       1
<PAGE>
 
     Each Warrant represented hereby is exercisable at the option of the
Registered Holder, but no fractional shares of Common Stock will be issued. In
the case of the exercise of less than all the Warrants represented hereby, the
Company shall cancel the Warrant Certificate upon the surrender hereof and shall
execute and deliver a new Warrant Certificate or Warrant Certificates of like
tenor, which the Warrant Agent shall countersign, for the balance of such
Warrants.

     This Warrant shall not be exercisable by a Registered Holder in any state
where such exercise would be unlawful. 

     This Warrant Certificate is exchangeable, upon the surrender hereof by the
Registered Holder at the corporate office of the Warrant Agent, for a new
Warrant Certificate or Warrant Certificates of like tenor representing an equal
aggregate number of Warrants, each of such new Warrant Certificates to represent
such number of Warrants as shall be designated by such Registered Holder at the
time of such surrender. Upon due presentment with any tax or other governmental
charge imposed in connection therewith, for registration of transfer of this
Warrant Certificate at such office, a new Warrant Certificate or Warrant
Certificates representing an equal aggregate number of Warrants will be issued
to the transferee in exchange thereof, subject to the limitations provided in
the Warrant Agreement.

     The Company has agreed to register the shares issuable upon exercise of the
Warrants under certain conditions as set forth in the Warrant Agreement.

     The Company agrees at all times to reserve or hold available a sufficient
number of Common Shares to cover the number of shares issuable upon the exercise
of this and all other Warrants or like tenor then outstanding.

     Prior to the exercise of any Warrant represented hereby, the Registered
Holder shall not be entitled to any rights of a shareholder of the Company,
including, without limitation, the right to vote or to receive any notice of any
proceedings of the Company. No dividends shall be payable or accrue in respect
of this Warrant or the interest represented hereby or the shares purchasable
hereunder until or unless, and except to the extent that, this Warrant shall be
exercised.

     Except as otherwise above provided, this Warrant and all rights hereunder
are transferable by the Registered Holder hereof in person or by duly authorized
attorney on the books of the Company upon surrender of this Warrant, properly
endorsed to the Company, only after approval by the Board of Directors of the
Company.

     The Company may deem and treat the registered owner of this Warrant at any
time as the absolute owner hereof for all purposes and shall not be affected by
any notice to the contrary.

     If at any time or from time to time the Company shall declare a stock
dividend or, by subdivision, consolidation, or reclassification of shares, or
otherwise, change as a whole the outstanding Common Shares into a different
number of a class of shares, the number and class of shares so changed shall,
for the purposes of this Warrant and the terms and conditions hereof, replace
the shares outstanding immediately prior to such change, and the Warrant
purchase price in effect, and the number of shares purchasable under this
Warrant, immediately prior to the date upon which such change shall become
effective, shall be proportionately adjusted. Irrespective of any adjustment or
change in the Warrant purchase price or the number of Common Shares actually
purchasable under this or any other Warrant of like tenor, the Warrants
theretofore and thereafter issued may continue to express the Warrant purchase
price per share and the number of shares purchasable thereunder as the Warrant
purchase price per share and the number of shares purchasable were expressed
upon the Warrants when initially issued.

     Upon the happening of any event requiring an adjustment of the Warrant
purchase price hereunder, the Company shall forthwith give written notice
thereof to the Registered Holder stating the adjusted 

                                       2
<PAGE>
 
Warrant purchase price and the adjusted number of Common Shares purchasable upon
the exercise hereof resulting from such event and setting forth in reasonable
detail the method of calculation and the facts upon which such calculation is
based, The Board of Directors of the Company shall determine the computation
made hereunder. In case any voluntary or involuntary dissolution, liquidation,
or winding up of the Company shall at any time be proposed, the Company shall
give at least 20 days' prior written notice thereof to the Registered Holder
stating the date on which such event is to take place and the date (which shall
be at least 20 days after the giving of such notice) as of which the holders of
Common Shares of record shall be entitled to exchange their Common Shares for
securities or other property deliverable upon such dissolution, liquidation, or
winding up (on which date, in the event such dissolution, liquidation, or
winding up shall actually take place, this Warrant and all rights with respect
hereto shall terminate). Notices pursuant to this paragraph shall be given by
first class mail, postage prepaid, addressed to the registered holder of this
Warrant at the address of such holder appearing in the records of the Company.

     For the purposes of the foregoing paragraphs, the term "Common Shares"
shall include the aggregate number of shares that the Company, by its Articles
of Incorporation, as from time to time amended, is authorized to issue, which
are not limited to a fixed sum or percentage of the par value in respect of the
rights of the holders thereof to participate in dividends or in distribution of
assets upon the voluntary or involuntary liquidation, dissolution, or winding up
of the Company.

     Any conflict in the terms of this Warrant Certificate and the terms of the
Warrant Agreement shall be resolved with reference to the terms of the Warrant
Agreement. This Warrant Certificate shall be governed by and construed in
accordance with the laws of the State of Delaware.

     IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be
duly executed by its duly authorized officer and its corporate seal to be
imprinted hereon this 29th day of October, 1997.

RENAISSANCE GOLF PRODUCTS, INC.



By: /s/ John B. Hewlett
   --------------------------
   John B. Hewlett,
   Chairman of the Board



By: /s/ Bruce H. Haglund
   --------------------------
   Bruce H. Haglund,
   Secretary



CORPORATE SEAL

                                       3
<PAGE>
 
                                  ASSIGNMENT

                        RENAISSANCE GOLF PRODUCTS, INC.
                                        
     (To be executed by the Registered Holder to effect a transfer of the
Warrant. No transfer or assignment shall be valid unless countersigned by the
Secretary of RENAISSANCE GOLF PRODUCTS, INC., which signature shall evidence
approval by the Board of Directors.)

     For value received __________________ hereby sells, assigns, and transfers
unto ___________________________________________________________________________
this Warrant and the rights represented thereby to purchase Common Shares in
accordance with the terms and conditions thereof, and does hereby irrevocably
constitute and appoint the duly elected and acting Secretary of RENAISSANCE GOLF
PRODUCTS, INC. as attorney-in-fact to transfer this Warrant on the books of
RENAISSANCE GOLF PRODUCTS, INC., with full power of substitution.



Dated: _________                   Signed:______________________________
                                              , Registered Holder


 

Countersigned:

RENAISSANCE GOLF PRODUCTS, INC.


By:____________________
   Its Secretary

                                       4
<PAGE>
 
                               SUBSCRIPTION FORM

                        RENAISSANCE GOLF PRODUCTS, INC.

    (To be Executed by the Registered Holder in Order to Exercise Warrants)

     The undersigned Registered Holder hereby irrevocably elects to exercise
__________________ Warrants represented by the attached Warrant Certificate, and
to purchase the securities issuable upon the exercise of such Warrants, tenders
$ _________ as payment therefor and requests that certificates for such
securities shall be issued in the name of

          [PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER]

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
                    [Please print or type name and address]

and be delivered to

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
                    [please print or type name and address]

and if such number of Warrants shall not be all the Warrants evidenced by this
Warrant Certificate, that a new Warrant Certificate for the balance of such
Warrants be registered in the name of, and delivered to, the Registered Holder
at the address stated below.

     Dated:__________                   ________________________________
                                        Signature of Registered Holder

                                        ________________________________

                                        ________________________________ 
                                        Address

                                        ________________________________ 
                                        Taxpayer Identification Number

                                        ________________________________ 
                                        Signature Guaranteed
ACCEPTED:

RENAISSANCE GOLF PRODUCTS, INC.


By:_____________________________
      , Authorized Officer

                                       5