Document:

<PAGE>   1
                                                                   Exhibit 10(n)

                         AGREEMENT RE: CHANGE IN CONTROL

     This AGREEMENT RE: CHANGE IN CONTROL (this "Agreement") is dated as of
November 1, 2000 and is entered into by and between Terence W. Tsang
("Executive") and Ashworth, Inc., a Delaware corporation (the "Company").

                                   BACKGROUND

     The Company believes that because of its position in the industry,
financial resources and historical operating results there is a possibility that
the Company may become the subject of a Change in Control (as defined below),
either now or at some time in the future.

     The Company believes that it is in the best interest of the Company and its
stockholders to foster Executive's objectivity in making decisions with respect
to any pending or threatened Change in Control of the Company and to assure that
the Company will have the continued dedication and availability of Executive,
notwithstanding the possibility, threat or occurrence of a Change in Control.
The Company believes that these goals can best be accomplished by alleviating
certain of the risks and uncertainties with regard to Executive's financial and
professional security that would be created by a pending or threatened Change in
Control and that inevitably would distract Executive and could impair his
ability to objectively perform his duties for and on behalf of the Company.
Accordingly, the Company believes that it is appropriate and in the best
interest of the Company and its stockholders to provide to Executive
compensation arrangements upon a Change in Control that lessen Executive's
financial risks and uncertainties and that are reasonably competitive with those
of other corporations.

     With these and other considerations in mind, the Compensation Committee of
the Company has authorized the Company to enter into this Agreement with the
Executive to provide the protections set forth herein for Executive's financial
security following a Change in Control.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration the receipt of which is hereby acknowledged, it is hereby
agreed as follows:

                                    AGREEMENT

     1.    Term of Agreement. This Agreement shall be effective from the date
first written above and, subject to the provisions of Section 4, shall extend to
(and thereupon automatically terminate) one (1) day after Executive's
termination of employment with the Company for any reason. No termination of
this Agreement shall limit, alter or otherwise affect Executive's rights
hereunder with respect to a Change in Control which has occurred prior to such
termination, including without limitation Executive's right to receive the
various benefits hereunder.

     2.    Purpose of Agreement. The purpose of this Agreement is to provide
that, in the event of a "Change in Control," Executive may become entitled to
receive certain additional benefits, as described herein, in the event of his
termination under specified circumstances.

<PAGE>   2

     3.    Change in Control. As used in this Agreement, the phrase "Change in
Control" shall mean:

          (i)    Except as provided by subparagraph (iii) hereof, the
acquisition (other than from the Company) by any person, entity or "group",
within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
Act of 1934, as amended (the "Exchange Act") (excluding, for this purpose, the
Company or its subsidiaries, or any executive benefit plan of the Company or its
subsidiaries which acquires beneficial ownership of voting securities of the
Company), of beneficial ownership (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) of forty percent (40%) or more of either the then
outstanding shares of common stock or the combined voting power of the Company's
then outstanding voting securities entitled to vote generally in the election of
directors; or

          (ii)    Individuals who, as of the date hereof, constitute the Board
of Directors of the Company (as of the date hereof the "Incumbent Board") cease
for any reason to constitute at least a majority of the Board of Directors of
the Company, provided that any person becoming a director subsequent to the date
hereof whose election, or nomination for election by the Company's stockholders,
is or was approved by a vote of at least a majority of the directors then
comprising the Incumbent Board (other than an election or nomination of an
individual whose initial assumption of office is in connection with an actual or
threatened election contest relating to the election of the Directors of the
Company, as such terms are used in Rule 14a-11 of Regulation 14A promulgated
under the Exchange Act) shall be, for purposes of this Agreement, considered as
though such person were a member of the Incumbent Board; or

          (iii)     Approval by the stockholders of the Company of a
reorganization, merger or consolidation with any other person, entity or
corporation, other than

               (1) a merger or consolidation which would result in the voting
     securities of the Company outstanding immediately prior thereto continuing
     to represent (either by remaining outstanding or by being converted into
     voting securities of another entity) more than fifty percent (50%) of the
     combined voting power of the voting securities of the Company or such other
     entity outstanding immediately after such merger or consolidation, or

               (2) a merger or consolidation effected to implement a
     recapitalization of the Company (or similar transaction) in which no person
     acquires forty percent (40%) or more of the combined voting power of the
     Company's then outstanding voting securities; or

          (iv)     Approval by the stockholders of the Company of a plan of
complete liquidation of the Company or an agreement for the sale or other
disposition by the Company of all or substantially all of the Company's assets.

     4.     Effect of a Change in Control. In the event of a Change in Control,
Sections 6 through 11 of this Agreement shall become applicable to Executive.
These Sections shall continue to remain applicable until the third anniversary
of the date upon which the Change in Control occurs. On such third anniversary
date, and provided that the employment of Executive

                                       2
<PAGE>   3

has not been terminated on account of a Qualifying Termination (as defined in
Section 5 below), this Agreement shall terminate and be of no further force or
effect.

     5.    Qualifying Termination. If following, or within ninety (90) days
prior to, a Change in Control Executive's employment with the Company and its
affiliated companies is terminated, such termination shall be conclusively
considered a "Qualifying Termination" unless:

          (a)     Executive voluntarily terminates his employment with the
     Company and its affiliated companies. Executive, however, shall not be
     considered to have voluntarily terminated his employment with the Company
     and its affiliated companies if, following, or within ninety (90) days
     prior to, the Change in Control, Executive's overall compensation is
     reduced or adversely modified in any material respect or Executive's
     authority or duties are materially changed, and subsequent to such
     reduction, modification or change Executive elects to terminate his
     employment with the Company and its affiliated companies. For such
     purposes, Executive's authority or duties shall conclusively be considered
     to have been "materially changed" if, without Executive's express and
     voluntary written consent, there is any substantial diminution or adverse
     modification in Executive's title, status, overall position,
     responsibilities, reporting relationship, general working environment
     (including without limitation secretarial and staff support, offices, and
     frequency and mode of travel), or if, without Executive's express and
     voluntary written consent, Executive's job location is transferred to a
     site more than fifty (50) miles away from his place of employment ninety
     (90) days prior to the Change in Control. In this regard as well,
     Executive's authority and duties shall conclusively be considered to have
     been "materially changed" if, without Executive's express and voluntary
     written consent, Executive no longer holds the same title or no longer has
     the same authority and responsibilities or no longer has the same reporting
     responsibilities, in each case with respect and as to a publicly held
     parent company which is not controlled by another entity or person.

          (b)    The termination is on account of Executive's death or
     Disability. For such purposes, "Disability" shall mean a physical or mental
     incapacity as a result of which Executive becomes unable to continue the
     performance of his responsibilities for the Company and its affiliated
     companies and which, at least three (3) months after its commencement, is
     determined to be total and permanent by a physician agreed to by the
     Company and Executive, or in the event of Executive's inability to
     designate a physician, Executive's legal representative. In the absence of
     agreement between the Company and Executive, each party shall nominate a
     qualified physician and the two physicians so nominated shall select a
     third physician who shall make the determination as to Disability.

          (c)     Executive is involuntarily terminated for "Cause." For this
     purpose, "Cause" shall be limited to only three types of events:

          (1)     the willful and deliberate refusal of Executive to comply with
     a lawful, written instruction of the Board of Directors, which refusal is
     not remedied by Executive within a reasonable period of time after his
     receipt of written notice from the Company

                                       3
<PAGE>   4

     identifying the refusal, so long as the instruction is consistent with the
     scope and responsibilities of Executive's position prior to the Change in
     Control;

          (2)     an act or acts of personal dishonesty by Executive which were
     intended to result in substantial personal enrichment of Executive at the
     expense of the Company; or

          (3)     Executives conviction of any felony involving an act of moral
     turpitude.

     6.     Severance Payment. If Executive's employment is terminated as a
result of a Qualifying Termination, the Company shall pay Executive within
thirty (30) days after the Qualifying Termination a cash lump sum equal to two
(2) times Executive's Compensation (the "Severance Payment").

          (a)     For purposes of this Agreement, Executive's "Compensation"
     shall equal the sum of (i) Executive's highest annual salary rate with the
     Company within the three year period ending on the date of Executive's
     Qualifying Termination, plus (ii) a "Bonus Increment." The Bonus Increment
     shall equal the annualized average of all bonuses and incentive
     compensation payments paid to Executive during the two (2) year period
     immediately before the date of Executive's Qualifying Termination under all
     of the Company's bonus and incentive compensation plans or arrangements.

          (b)     In lieu of a cash lump sum, Executive may, in his sole
     discretion, elect to receive the Severance Payment provided by this Section
     in equal annual installments over three (3) years. Such installments shall
     be paid to Executive on each anniversary of the date of Executive's
     Qualifying Termination, beginning with the first such anniversary and
     continuing on each such anniversary thereafter until fully paid. Such
     election to receive the Severance Payment in installments may be made
     and/or revoked by Executive at any time prior to the occurrence of a Change
     in Control by written notice to the Board of Directors of the Company. Upon
     the occurrence of a Change in Control, any such election to receive the
     Severance Payment in installments that has been made and not revoked prior
     to the Change in Control shall be irrevocable and binding on both the
     Company and Executive. In the event that at the time of a Change in Control
     there is not in effect an election by Executive to receive the Severance
     Payment in installments, such Severance Payment shall be paid to Executive
     in a single cash lump sum as provided in subparagraph (a) above.

          (c)     The Severance Payment hereunder is in lieu of any severance
     payment that Executive might otherwise be entitled to from the Company in
     the event of a Change in Control under the Company's applicable severance
     pay policies, if any, or under any other oral or written agreement;
     provided, however, that Executive shall continue to be entitled to receive
     the severance pay benefits under the Company's applicable policies, if any,
     or under another written agreement if and to the extent Executive's
     termination is not a Qualifying Termination after, or within ninety (90)
     days prior to, a Change in Control.

     7.     Additional Benefits.

          (a)     In the event of a Qualifying Termination, any and all unvested
     stock options of Executive shall immediately become fully vested and
     exerciseable.

                                       4
<PAGE>   5

          (b)     In the event of a Qualifying Termination, Executive shall be
     entitled to continue to participate in the following executive benefit
     programs which had been made available to Executive (including his family)
     before the Qualifying Termination: group medical insurance, group dental
     insurance, group-term life insurance, and disability insurance. These
     programs shall be continued at no cost to Executive, except to the extent
     that tax rules require the inclusion of the value of such benefits in
     Executive's income. The programs shall be continued in the same way and at
     the same level as immediately prior to the Qualifying Termination. The
     programs shall continue for Executive's benefit for two (2) years after the
     date of the Qualifying Termination; provided, however, that Executive's
     participation in each of such programs shall be earlier terminated or
     reduced, as applicable, if and to the extent Executive receives benefits as
     a result of concurrent coverage through another program.

     8.     Indemnification for Excise Tax. In the event that Executive becomes
entitled to receive a Severance Payment in accordance with the provisions of
Section 6 above, and such Severance Payment and any other benefits or payments
(including transfers of property) that Executive receives, or is to receive,
pursuant to this Agreement or any other agreement, plan or arrangement with the
Company in connection with a Change in Control of the Company ("Other Benefits")
shall be subject to the tax imposed pursuant to Section 4999 of the Internal
Revenue Code of 1986, as amended (the "Code")(or any successor thereto) or any
comparable provision of state law (an "Excise Tax"), the following rules shall
apply:

          (a)     The Company shall pay to Executive, within thirty (30) days
     after the Executive's Qualifying Termination, an additional amount (the
     "Gross-Up Payment") such that the net amount retained by Executive, after
     deduction of any Excise Tax with respect to the Severance Payment or the
     Other Benefits and any federal, state and local income tax, FICA tax, and
     Excise Tax upon such Gross-Up Payment, is equal to the amount that would
     have been retained by Executive if such Excise Tax were not applicable. It
     is intended that Executive shall not suffer any loss or expense resulting
     from the assessment of any Excise Tax or the Company's reimbursement of
     Executive for payment of any such Excise Tax.

          (b)     For purposes of determining whether any of the Severance
     Payments or Other Benefits will be subject to an Excise Tax and the amount
     of such Excise Tax, (i) any other payments or benefits received or to be
     received by Executive in connection with a Change in Control of the Company
     or Executive's termination of employment (whether pursuant to the terms of
     this Agreement or any other plan, arrangement or agreement with the
     Company, any person whose actions result in a Change in Control or any
     person affiliated with the Company or such person) shall be treated as
     "parachute payments" within the meaning of Section 280G(b)(2) of the Code
     (or any successor thereto), and all "excess parachute payments" within the
     meaning of Section 280G(b)(l) of the Code (or any successor thereto) shall
     be treated as subject to the Excise Tax, unless in the opinion of tax
     counsel selected by the Company's independent auditors and acceptable to
     Executive such other payments or benefits (in whole or in part) do not
     constitute parachute payments, or such excess parachute payments (in whole
     or in part) represent reasonable compensation for services actually
     rendered within the meaning of Section 280G(b)(4) of the Code (or any
     successor thereto), (ii) the amount of the

                                       5
<PAGE>   6

     Severance Payments and Other Benefits which shall be treated as subject to
     the Excise Tax shall be equal to the lesser of (A) the total amount of the
     Severance Payments or Other Benefits or (B) the amount of excess parachute
     payments within the meaning of Sections 280G(b)(l) and (4) of the Code (or
     any successor or successors thereto), after applying clause (i), above, and
     (iii) the value of any non-cash benefits or any deferred payment or benefit
     shall be determined by the Company's independent auditors in accordance
     with the principles of Sections 280G(d)(3) and (4) of the Code (or any
     successor or successors thereto).

          (c)     For purposes of determining the amount of the Gross-Up
     Payment, Executive shall be deemed to pay federal income taxes at the
     highest marginal rate of federal income taxation in the calendar year in
     which the Gross-Up Payment is to be made and state and local income taxes
     at the highest marginal rates of taxation in the state and locality of
     Executive's residence on the date of the Executive's Qualifying
     Termination, net of the maximum reduction in federal income taxes which
     could be obtained from deduction of such state and local taxes.

          (d)     In the event that the Excise Tax is subsequently determined to
     be less than the amount taken into account hereunder at the time of the
     Executive's Qualifying Termination, the Executive shall repay to the
     Company, at the time that the amount of such reduction in Excise Tax is
     finally determined, the portion of the Gross-Up Payment attributable to
     such reduction plus interest on the amount of such repayment at the rate
     provided in Section 1274(b)(2)(B) of the Code (or any successor thereto)
     (the "Applicable Rate"). In the event that the Excise Tax is determined to
     exceed the amount taken into account hereunder at the time of such
     Qualifying Termination (including by reason of any payment the existence or
     amount of which cannot be determined at the time of the Gross-Up Payment),
     the Company shall make an additional Gross-Up Payment in respect of such
     excess (plus interest, determined at the Applicable Rate, payable with
     respect to such excess) at the time that the amount of such excess is
     finally determined.

     9.     Rights and Obligations Prior to a Change in Control. Prior to the
date which is ninety (90) days before a Change in Control, the rights and
obligations of Executive with respect to his employment by the Company shall be
determined in accordance with the policies and procedures adopted from time to
time by the Company and the provisions of any written employment contract in
effect between the Company and Executive from time to time. This Agreement deals
only with certain rights and obligations of Executive subsequent, or within
ninety (90) days prior to, a Change in Control, and the existence of this
Agreement shall not be treated as raising any inference with respect to what
rights and obligations exist prior to the date which is ninety (90) days before
a Change in Control. Unless otherwise expressly set forth in a separate written
employment agreement between Executive and the Company, the employment of
Executive is expressly at-will, and Executive or the Company may terminate
Executive's employment with the Company at any time and for any reason, with or
without cause, provided that if such termination occurs within ninety (90) days
prior to or three (3) years after a Change in Control and constitutes a
Qualifying Termination (as defined in Section 5 above) the provisions of this
Agreement shall govern the payment of the Severance Payment and certain other
benefits as provided herein.

                                       6
<PAGE>   7

     10.    Non-Exclusivity of Rights. Subject to Section 6(c) hereof, nothing
in this Agreement shall prevent or limit Executive's continuing or future
participation in any benefit, bonus, incentive or other plan or program provided
by the Company or any of its affiliated companies and for which Executive may
qualify, nor shall anything herein limit or otherwise affect such rights as
Executive may have under any stock option or other agreements with the Company
or any of its affiliated companies. Except as otherwise provided in Section 6(c)
hereof, amounts which are vested benefits or which Executive is otherwise
entitled to receive under any plan or program of the Company or any of its
affiliated companies at or subsequent to the date of any Qualified Termination
shall be payable in accordance with such plan or program.

     11.     Full Settlement. The Company's obligation to make the payments
provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any set-off, counter-claim, recoupment,
defense or other claim, right or action which the Company may have against
Executive or others. In no event shall Executive be obligated to seek other
employment or to take any other action by way of mitigation of the amounts
payable to Executive under any of the provisions of this Agreement. The Company
agrees to pay, to the full extent permitted by law, all legal fees and expenses
which Executive may reasonably incur as a result of Executive's successful
collection efforts to receive amounts payable hereunder, or as a result of any
contest (regardless of the outcome thereof) by the Company or others of the
validity or enforceability of, or liability under, any provision of this
Agreement or any guarantee of performance thereof (including as a result of any
contest by Executive about the amount of any payment pursuant to this Section).

     12.     Successors.

          (a)     This Agreement is personal to Executive, and without the prior
     written consent of the Company shall not be assignable by Executive other
     than by will or the laws of descent and distribution. This Agreement shall
     inure to the benefit of and be enforceable by Executive's legal
     representatives.

          (b)     The rights and obligations of the Company under this Agreement
     shall inure to the benefit of and shall be binding upon the successors and
     assigns of the Company.

     13.     Governing Law. This Agreement is made and entered into in the State
of California, and the internal laws of California shall govern its validity and
interpretation in the performance by the parties hereto of their respective
duties and obligations hereunder.

     14.     Modifications. This Agreement may be amended or modified only by an
instrument in writing executed by all of the parties hereto.

     15.     Dispute Resolution.

          (a)     Any controversy or dispute between the parties involving the
     construction, interpretation, application or performance of the terms,
     covenants, or conditions of this Agreement or in any way arising under this
     Agreement (a "Covered Dispute") shall, on demand by either of the parties
     by written notice served on the other party in the manner prescribed in
     Section 16 hereof, be referenced pursuant to the procedures described in

                                       7
<PAGE>   8

     California Code of Civil Procedure ("CCP") Sections 638, et seq., as they
     may be amended from time to time (the "Reference Procedures"), to a retired
     Judge from the Superior Court for the County of San Diego or the County of
     Orange for a decision.

          (b)     The Reference Procedures shall be commenced by either party by
     the filing in the Superior Court of the State of California for the County
     of Orange or the County of San Diego of a petition pursuant to CCP Section
     638(1) (a "Petition"). Said Petition shall designate as a referee a Judge
     from the list of retired San Diego County and Orange County Superior Court
     Judges who have made themselves available for trial or settlement of civil
     litigation under said Reference Procedures. If the parties hereto are
     unable to agree on the designation of a particular retired San Diego County
     or Orange County Superior Court Judge or the designated Judge is
     unavailable or unable to serve in such capacity, request shall be made in
     said Petition that the Presiding or Assistant Presiding Judge of the Orange
     County Superior Court or the San Diego County Superior Court, as relevant,
     appoint as referee a retired San Diego County or Orange County Superior
     Court Judge from the aforementioned list.

          (c)     Except as hereafter agreed by the parties, the referee shall
     apply the internal law of California in deciding the issues submitted
     hereunder. Unless formal pleadings are waived by agreement among the
     parties and the referee, the moving party shall file and serve its
     complaint within 15 days from the date a referee is designated as provided
     herein, and the other party shall have 15 days thereafter in which to plead
     to said complaint. Each of the parties reserves its respective rights to
     allege and assert in such pleadings all claims, causes of action,
     contentions and defenses which it may have arising out of or relating to
     the general subject matter of the Covered Dispute that is being determined
     pursuant to the Reference Procedures. Reasonable notice of any motions
     before the referee shall be given, and all matters shall be set at the
     convenience of the referee. Discovery shall be conducted as the parties
     agree or as allowed by the referee. Unless waived by each of the parties, a
     reporter shall be present at all proceedings before the referee.

          (d)    It is the parties' intention by this Section 15 that all issues
     of fact and law and all matters of a legal and equitable nature related to
     any Covered Dispute will be submitted for determination by a referee
     designated as provided herein. Accordingly, the parties hereby stipulate
     that a referee designated as provided herein shall have all powers of a
     Judge of the Superior Court including, without limitation, the power to
     grant equitable and interlocutory and permanent injunctive relief.

          (e)     Each of the parties specifically (i) consents to the exercise
     of jurisdiction over his person by a referee designated as provided herein
     with respect to any and all Covered Disputes; and (ii) consents to the
     personal jurisdiction of the California courts with respect to any appeal
     or review of the decision of any such referee.

          (f)     Each of the parties acknowledges that the decision by a
     referee designated as provided herein shall be a basis for a judgment as
     provided in CCP Section 644 and shall be subject to exception and review as
     provided in CCP Section 645.

                                       8
<PAGE>   9

     16.     Notices. Any notice or communications required or permitted to be
given to the parties hereto shall be delivered personally or be sent by United
States registered or certified mail, postage prepaid and return receipt
requested, and addressed or delivered as follows, or at such other addresses the
party addressed may have substituted by notice pursuant to this Section:

             Ashworth, Inc.                      Terence W. Tsang
             2791 Loker Avenue West              14309 Autumn Hill Lane
             Carlsbad, California  92008         Chino Hills, California 91709
             Attn:  President

     17.     Captions. The captions of this Agreement are inserted for
convenience and do not constitute a part hereof.

     18.     Severability. In case any one or more of the provisions contained
in this Agreement shall for any reason be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision of this Agreement, but this Agreement shall
be construed as if such invalid, illegal or unenforceable provision had never
been contained herein and there shall be deemed substituted for such invalid,
illegal or unenforceable provision such other provision as will most nearly
accomplish the intent of the parties to the extent permitted by the applicable
law. In case this Agreement, or any one or more of the provisions hereof, shall
be held to be invalid, illegal or unenforceable within any governmental
jurisdiction or subdivision thereof, this Agreement or any such provision
thereof shall not as a consequence thereof be deemed to be invalid, illegal or
unenforceable in any other governmental jurisdiction or subdivision thereof.

     19.    Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which shall
together constitute one in the same Agreement.

     IN WITNESS HEREOF, the parties hereto have caused this Agreement to be duly
executed and delivered as of the day and year first written above in Carlsbad,
California.

Dated:  December 13, 2000                   ASHWORTH, INC.

                                            By: /s/Randall L. Herrel, Sr.
                                                ---------------------------
                                            Title: Chief Executive Officer
                                                   ------------------------

Dated:  December 13, 2000                   TERENCE W. TSANG

                                            By: /s/Terence W. Tsang
                                                ---------------------------

                                       9<PAGE>   1
                                                                   Exhibit 10(o)

                           PROMOTION AGREEMENT BETWEEN
                         ASHWORTH, INC. AND FRED COUPLES

     THIS PROMOTION AGREEMENT (the "Agreement") is entered into by and between
ASHWORTH, INC. (hereinafter the "Company" or "Ashworth") and FRED COUPLES
(hereinafter "Couples"), effective November 1, 1999.

     WHEREAS, this Agreement supercedes and replaces all prior agreements
between the parties including but not limited to that Promotion Agreement dated
September 1, 1994 and all amendments and addenda thereto; and

     WHEREAS, the Company desires to retain Couples to provide certain
promotional and other services ("Services") and Couples is willing to provide
such Services; and

     WHEREAS, the parties hereto desire to set forth in writing their
understanding and agreement as to the promotional arrangement;

     NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein contained, the parties do hereby agree as follows:

                                   DEFINITIONS

     As used herein, the terms set forth below shall be defined as follows:

     ASHWORTH APPAREL shall mean all ASHWORTH(R) brand apparel contained in the
Company's present and future collections.

     CONTRACT TERRITORY shall be worldwide.

     DISABILITY shall mean mental or physical illness or medical condition
rendering Couples incapable of fulfilling his obligations under this Agreement.

     ENDORSEMENT shall include only the right to use the name, any nickname,
initials, autograph, facsimile signature, photograph, portrait, likeness, and/or
endorsement of Couples.

                              TERMS OF RELATIONSHIP

1.   GRANT AND ACCEPTANCE. The Company hereby retains Couples to provide the
     below-described Services and Couples agrees to provide the Services upon
     the terms and conditions herein set forth.

                                       1
<PAGE>   2

2.   TERM. Except as otherwise provided herein, this Agreement shall commence
     effective as of November 1, 1999, and shall automatically terminate on
     October 31, 2011 (the "Term").

                                    SERVICES

     Couples shall furnish the following Services:

1.   ENDORSEMENT. Worldwide Endorsement of the following products:

     a.   Ashworth(R)Apparel;

     b.   Ashworth(R)headwear (through advertising media);

     c.   A shoe line under the trademark "Ashworth," "Couples," or "Fred
          Couples" or a combination thereof.

     Couples agrees that the Company may use the Endorsement in connection with
advertisement, promotion, and sale of Ashworth Apparel, headwear, shoes and
accessories in the Company's present and future collections.

2.     GOLF TOURNAMENTS. Couples agrees to play a minimum of fifteen (15)
regularly scheduled and sanctioned U.S. and/or international competitive golf
events during each November 1 through October 31 twelve-month period through and
including October 31, 2004 and a mutually agreed schedule no less than a
reasonable tour exposure during the next seven years of this Agreement or
through and including 2011. Couples and the Company agree that Couples may in
his sole discretion elect to play fewer regularly scheduled and sanctioned golf
events during the term of this Agreement, in which event his $1,000,000 annual
cash compensation as described herein below shall be reduced proportionately.
For example, if he plays in 75% of the required events, his $1,000,000 annual
cash compensation payable under "Compensation" Paragraph 1 for that year shall
be reduced by 25%.

3.    ASHWORTH APPAREL AND PRODUCTS. Couples shall wear the Ashworth Apparel and
shoes; provided however that the shoes, in Couples' opinion shall be of a
quality and comfort level that Couples can reasonably and comfortably wear to
play on the PGA Tour, and shall also use other related products of the Company
while competing in all tournaments and other professional or personal golf
outings, and during any clinics or instruction given by Couples, with the
understanding that while participating in certain team events (i.e., Ryder Cup,
World Cup) Couples will wear a team uniform which may or may not be Ashworth
Apparel.

                                       2
<PAGE>   3

4.    LOGOS. Except as otherwise provided herein, Couples agrees that such
products may prominently bear the Company's logos and shall not bear any other
logos without the Company's prior written approval, which approval shall not be
unreasonably withheld. Notwithstanding the foregoing, the Company hereby agrees
that (a) Couples may wear the "Cadillac" logo on the left chest of apparel or
such other sponsor's logo in the event of the termination of Couples'
endorsement agreement with Cadillac, and (b) Couples may wear a logo other than
the Company's logo on the front panel of headwear, provided, however that such
other logo must be approved by the Company prior to such use, which approval
shall not be unreasonably withheld. Couples agrees that he will use his best
efforts to obtain the agreement of his caddy to wear the Ashworth hats while
caddying for Couples.

5.    SHOE LINE. The parties agree that as a part of Couples' obligations with
respect to an Ashworth shoe line, whether a current licensee or future
licensee(s), that Couples will endorse the shoe line in advertising, print media
and Ashworth's marketing campaigns.

6.     PHOTOGRAPHY AND PROMOTION SESSIONS. Couples agrees to make himself
available if requested in advance by the Company, three days per year, at times
and places mutually convenient for Couples and the Company, but in no event at
times which adversely impact on Couples' playing schedule, for personal
appearances and/or photography sessions and other assistance to the Company in
connection with the Endorsement and preparation of advertising and promotional
materials featuring the Ashworth Apparel, headwear, shoes and accessories. The
Company agrees that any photoshoots scheduled for overseas shall be scheduled
____ months in advance and shall not require Couples to travel overseas at times
which are inconvenient to his PGA Tour schedule. Couples and the Company agree
that if Couples is not available for any or all of the scheduled photo/promotion
sessions (three per year) that Couples compensation will be reduced by One
Hundred Thousand Dollars ($100,000.00) per one (1) day session that Couples was
unable to schedule for an annual maximum of Three Hundred Thousand Dollars
($300,000.00). Couples shall have the right to review and reject in good faith
the use of any such advertising and promotional materials.

7.     INDEPENDENT CONTRACTOR. Couples shall furnish the Services as an
independent contractor and not as an employee of the Company, and nothing herein
shall be construed to constitute Couples as an employee of the Company, it being
intended that each party shall be responsible for its or his own actions.
Couples has no power or authority to act for, represent, or bind the Company in
any manner and shall not hold himself out as an employee of the Company. Couples
shall not be entitled to any benefits provided by the Company to its employees,
including, for example, workers' compensation insurance, vacation or sick pay.
Couples shall pay (when and as due) any and all taxes incurred as a result of
his compensation. Couples shall indemnify the Company for any claims,

                                       3
<PAGE>   4

losses, costs, fees, liabilities, damages or injuries suffered by the Company
which arise out of Couples' breach of this section.

                                 INDEMNIFICATION

     Couples shall not be liable for any contractual obligations of the Company
resulting directly or indirectly from the aforesaid Endorsement of Ashworth
Apparel. The Company shall protect, indemnify and hold harmless Couples against
any and all claims with respect to such obligations, including indemnification
of legal expenses incurred in defense of all such claims. Further, the Company
shall furnish Couples with prompt notice of any claim or legal proceedings
initiated against Couples, which are based upon the rights furnished in the
performance or attempted performance of this Agreement. Couples shall have the
right to select legal counsel to represent him in the event of any litigation
regarding his Endorsement of Ashworth Apparel, and the Company shall pay the
costs of such legal representation.

                                  COMPENSATION

     As full compensation for the Services, the Company shall compensate Couples
as follows:

1.    CASH COMPENSATION. Upon execution and delivery of this Agreement, the
Company shall pay Couples the sum of $166,667, which the parties agree
represents the unadjusted aggregate cash compensation amount payable to Couples
for the period beginning September 1, 2000 and ending October 31, 2000. Except
as otherwise adjusted as provided herein, the Company shall pay Couples annual
cash compensation of $1,000,000 on each November 1 during the Term of this
Agreement (commencing November 1, 2000, with the last payment on November 1,
2010 if the Agreement runs it full Term). The parties also agree that the
Company shall pay Couples additional annual cash compensation of $157,000 on
each November 1 during a portion of the Term of this Agreement (commencing
November 1, 1999, with the last payment date being November 1, 2004). These
latter payments are in lieu of cash compensation amounts of $250,000 which,
under prior agreements, were to commence on September 1, 2011 and continue until
Couples' death.

     Both of the above-specified annual payment amounts are deemed "earned" by
Couples in monthly installments even though prepaid on November 1 of each
Agreement year. Thus, to fully "earn" each annual installment, Couples needs to
perform his obligations under this Agreement for the relevant twelve-month
period following payment and not be in material breach.

                                       4
<PAGE>   5

     In the event that an adjustment is made to the $1,000,000 annual payment
(as contemplated under Section 2 of "Services") or if an adjustment is needed
for "unearned" amounts because the Agreement is terminated for any reason prior
to October 31, 2011, the Company may elect in its discretion either to reduce
future payments by the appropriate and proper amount of the adjustments or to
obtain prompt reimbursement of the adjustments directly from Couples.

2.    REIMBURSEMENT OF EXPENSES. The Company shall reimburse Couples for
expenses authorized by the Company and incurred by Couples in connection with
the Services to the Company. Couples shall furnish the Company with an itemized
statement from time to time, together with, whenever possible, actual bills,
receipts, and other evidence of expenditure. Couples shall be reimbursed within
thirty (30) days after receipt by the Company of such itemized statements and
attachments.

3.     APPAREL. The Company shall furnish Couples with sufficient apparel and
other products to be used by him in connection with the Services and for the
personal use of Couples and his immediate family. The Company will also consider
in good faith Couples' requests for apparel and other products for his friends
and business associates.

4.     SIGNING BONUS. As consideration for entering into this Agreement and in
addition to any other compensation due to Couples under this Agreement, Ashworth
shall pay Couples the sum of $500,000. The "Signing Bonus" shall be paid in five
(5) equal annual installments of $100,000 each payable on the 5th day of January
2001, 2002, 2003, 2004 and 2005; provided however, that to fully "earn" each
annual installment of the Signing Bonus, Couples must have performed his
obligations under this Agreement up to the date of the relevant installment due
date and not be in material breach.

5.     WAIVER AND MUTUAL RELEASE. As consideration for entering into this
Agreement, Couples hereby waives any guarantees or contingencies as to options
previously granted, and the parties each mutually release each other from any
and all claims or lawsuits they may have against each other which arise out of
or are based on any event occurring prior to the date of signing this Agreement.

6.     SHOE LINE. The Company agrees that upon licensing the Ashworth Shoe Line,
Couples will endorse the shoes through all forms of marketing media and in
exchange for said endorsement Ashworth will assist Couples in negotiating
compensation based on a percentage of net sales.

7.     TIME OF THE ESSENCE. The Company and Couples acknowledge that time is of
the essence in the payment of all amounts hereunder. For the purpose of this
Agreement, all payments not received within thirty (30) days of the date due
shall be deemed "past due." Such past due payments shall bear interest at a

                                       5
<PAGE>   6

rate of two percent (2%) per month or the maximum rate permissible by law,
whichever is less. The imposition of interest provided for in this paragraph
shall be in addition to any other funds payable under this Agreement or
otherwise. Accordingly, neither party shall be precluded from exercising any
other remedies, whether at law or in equity, to enforce the terms of this
Agreement.

                                   DISABILITY

     In the event Couples shall become disabled and unable to compete on the PGA
Tour as required herein during the Term of this Agreement, the Company shall pay
Couples disability compensation as follows:

     a.   In the event Couples is temporarily disabled, such that he is unable
          to play in the number of tournaments required in this Agreement, the
          $1,000,000 annual cash compensation, in the Company's sole discretion,
          shall be reduced proportionately, e.g., if he plays in 75% of the
          required events, his $1,000,000 annual cash compensation for that year
          shall be reduced by 25%.

     b.   In the event Couples is permanently disabled, the annual cash
          compensation shall be reduced by one-half (1/2).

     Couples will purchase disability insurance payable to Couples from an
insurer and on terms which are mutually acceptable to Couples and the Company.
The parties understand that said policy will have an exclusion for injuries to
Couples' back. Should Couples become disabled due to his back problem, (which is
an exclusion to the policy) the Company `s payments in regard to this Agreement
will remain in effect. Upon receipt of proof of payment of the disability
insurance premium, the Company will pay Couples additional cash compensation in
the amount of the disability insurance premium. The Company's obligations
pursuant to this Section shall be reduced in whole or in part by the amount of
any insurance proceeds received by Couples from the disability insurance.
Couples' failure to obtain a policy shall relieve the Company of its obligations
to make any disability or premium payments under this "Disability" Section.

                             COVENANT NOT TO COMPETE

     During the Term of this Agreement, Couples shall not enter into any
activity, employment, independent contract, or other business arrangement, which
conflicts or competes with the Company's apparel and shoe business or Couples'
obligations under this Agreement. Couples shall submit to the Company for its
approval or disapproval any contemplated activity, employment, independent
contract, or other business arrangement, which may conflict or

                                       6
<PAGE>   7

compete with the Company's business or Couples' obligations under this Agreement
prior to entering into such arrangement.

                          CONFIDENTIALITY/NONDISCLOSURE

     Couples recognizes and acknowledges that the business of the Company
involves certain confidential and proprietary information which must be
protected in order to ensure the success and survival of the Company. Couples
agrees that he will not disclose such proprietary information or any part
thereof to any third party except for purposes within Couples' scope of duties
and responsibilities hereunder or as specifically authorized or agreed to in
writing by the Company. In the event of actual or threatened breach of this
provision, the Company, in addition to any other remedies afforded in equity or
law, shall be entitled to injunctive relief restraining Couples from breaching
this provision. Nothing herein shall be construed as prohibiting the Company
from pursuing any other remedies available to it for such breach or threatened
breach, including the recovery of damages, costs, and attorney fees. Couples
agrees that this provision shall continue perpetually and shall survive the
termination of this Agreement.

                                   TERMINATION

     1.   This Agreement may be terminated by either party in the following
circumstances:

          a.   Upon mutual consent of the Company and Couples;
          b.   Couples' death;
          c.   Couples' repeated or continuing misconduct of a very serious
               nature which subjects Couples to continued public ridicule
               causing the loss of positive public image, provided, however, the
               Company shall give Couples' notice of such misconduct and Couples
               shall have thirty (30) days in which to correct and cure such
               misconduct.
          d.   Couples' conviction or plea of guilty or no contest to a felony
               involving moral turpitude;
          e.   Institution of insolvency or bankruptcy proceedings by or against
               the Company;
          f.   Failure to comply with the terms and conditions of this Agreement
               after being given notice thereof and, where applicable, a
               reasonable opportunity to cure the failure.

                                   ASSIGNMENT

                                       7
<PAGE>   8

     Couples acknowledges that the Services to be rendered by him are unique and
personal. Accordingly, Couples shall not assign any of his rights or delegate
any of his duties or obligations under this Agreement without the express
written consent of the Company, except that Couples shall have the right to
assign the financial benefits due him hereunder to another business or corporate
entity, and the Company hereby consents to such assignment. The rights and
obligations of the Company under this Agreement shall inure to the benefit of
and shall be binding upon the successors and assigns of the Company.

                                   ARBITRATION

     Unless otherwise mutually agreed to in writing by the Company and Couples,
any controversy or claim arising out of or related to this Agreement, or the
breach thereof, shall be settled by arbitration in accordance with the Rules of
the American Arbitration Association or any successor. Each party hereto shall
select one arbitrator and the two so selected shall select a third. Failing the
selection of an arbitrator by either party or by the two so selected, the claim
or controversy shall be settled by the American Arbitration Association upon the
application of either party. Judgment upon an award of a majority of the
arbitrators filed in a court of competent jurisdiction shall be binding. The
parties hereby incorporate the provisions of Section 1283.05 of the California
Code of Civil Procedure.

                                  MISCELLANEOUS

     A.   NOTICES. Any and all notices required pursuant to this Agreement shall
          be deemed given if in writing and delivered in person, sent by
          certified or registered mail, return receipt requested, or sent by
          telefax numbers set forth below or such other addresses and telefax
          numbers as the parties may direct by notice given as herein provided:

          ASHWORTH, INC.
          Attention: President & Chief Executive Officer
          2791 Loker Avenue West
          Carlsbad, California 92008
          Telephone: (760) 929-6142
          Telefax: (760) 929-4697

          FRED COUPLES
          c/o Players Group, Inc.
          1851 Alexander Bell Drive, Suite 410
          Reston, VA  20191
          Telephone: (703) 648-1717

                                       8
<PAGE>   9

          Telefax: (703) 648-0999

     B.   GOVERNING LAW. This Agreement and its formation, operation, and
performance shall be governed, construed, performed, and enforced in accordance
with the internal laws of the State of California.

     C.   JURISDICTION AND VENUE. For the purpose of any dispute arising
hereunder, jurisdiction and venue shall lie in the appropriate court or
arbitration in California.

     D.   ATTORNEY FEES AND EXPENSES. In any legal action or alternative dispute
resolution instituted to interpret or enforce the terms and/or conditions of
this Agreement, the prevailing party shall be entitled to recover reasonable
attorney fees and expenses.

     E.   WAIVER. A waiver by either party of any provision of this Agreement
shall not be deemed a waiver of any other portion of this Agreement. Failure to
require performance of any provision of this Agreement shall not be deemed a
continuing waiver of that provision or any other provision of this Agreement.

     F.   SEVERABILITY. In the event that any provision or any portion of any
provision of this Agreement shall be held invalid, illegal or unenforceable, the
remainder of this Agreement shall remain valid, enforceable, and in effect.

     G.   CAPTION REFERENCES. All item headings and captions are for reference
purposes only and do not in any way modify or limit the provisions set forth
thereunder.

     H.   ENTIRE AGREEMENT. This Agreement contains the entire understanding and
agreement of the parties and supersedes any prior understandings and/or
agreements of the parties. This Agreement may not be modified or amended without
the written consent of both Couples and the Company.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       9
<PAGE>   10

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the
date indicated below, effective the date first above mentioned.

                                     COMPANY

                                     ASHWORTH, INC.,
                                     a  Delaware corporation

                                     By:/s/ Randall L. Herrel, Sr.
                                        --------------------------
                                     Randall L. Herrel, Sr.
                                     President & Chief Executive Officer

                                     COUPLES

                                     /s/ Fred Couples
                                     ------------------------------
                                     Fred Couples

                                       10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00019-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00019-of-00352.parquet"}]]