Document:

Exhibit 10.19 

RESTRICTED STOCK AGREEMENT 

	 	

FORWARD AIR CORPORATION
RESTATED 1999 STOCK OPTION AND INCENTIVE
PLAN 
 

	 
	 GRANTEE: _________________________________
	NO. OF SHARES: __________________________
 

     This Agreement (this “Agreement”) evidences the award of ____________ restricted shares (each, an “Award Share,” and collectively, the “Award Shares”) of the Common Stock of Forward Air Corporation, a Tennessee corporation (the “Company”), granted to you, _______________________ , effective as of February 12, 2006 (the “Grant Date”), pursuant to the Forward Air Corporation Restated 1999 Stock Option and Incentive Plan (the “Plan”) and conditioned upon your agreement to the terms described below. All of the provisions of the Plan are expressly incorporated into this Agreement. 

     1. Terminology. Capitalized words used in this Agreement not defined above are defined in the Glossary at the end of this Agreement. 

     2. Vesting.

          (a) All of the Award Shares are nonvested and forfeitable as of the Grant Date.

          (b) So long as your Service with the Company is continuous from the Grant Date through the applicable date upon which vesting is scheduled to occur, one-third (1/3rd) of the Award Shares will vest and become nonforfeitable on each anniversary of the Grant Date, such that 100% of the Award Shares will be vested and nonforfeitable on the third anniversary of the Grant Date.

          (c) If you die while in the Service of the Company or your Service terminates by reason of Disability, all of the Award Shares will become vested and nonforfeitable as of your death or such termination of employment. 

          (d) Unless otherwise determined by the Committee or as specified herein, none of the Award Shares will become vested and nonforfeitable after your Service with the Company ceases. 

          (e) To the extent not earlier vested or forfeited, all of the Award Shares will become vested and nonforfeitable upon the occurrence of a Change in Control. 

     3. Termination of Employment or Service. Unless otherwise determined by the Committee or as specified herein, if your Service with the Company ceases for any reason other than death or Disability, all Award Shares that are not then vested and nonforfeitable will be immediately forfeited by you and transferred to the Company upon such cessation for no consideration. 

     4. Restrictions on Transfer.

          (a) Until an Award Share becomes vested and nonforfeitable, it may not be sold, assigned, transferred, pledged, hypothecated or disposed of in any way (whether by operation of law or

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otherwise), except by will or the laws of descent and distribution, and shall not be subject to execution, attachment or similar process.

           (b) Any attempt to dispose of any such Award Shares in contravention of the restrictions set forth in Section 4(a) of this Agreement shall be null and void and without effect. The Company shall not be required to (i) transfer on its books any Award Shares that have been sold or transferred in contravention of this Agreement or (ii) treat as the owner of Award Shares, or otherwise accord voting, dividend or liquidation rights to, any transferee to whom Award Shares have been transferred in contravention of this Agreement. 

     5. Stock Certificates. You are reflected as the owner of record of the Award Shares as of the Grant Date on the Company’s books. The Company or an escrow agent appointed by the Committee will hold in escrow the share certificates for safekeeping, or the Company may otherwise retain the Award Shares in uncertificated book entry form, until the Award Shares become vested and nonforfeitable. Until the Award Shares become vested and nonforfeitable, any share certificates representing such shares will include a legend to the effect that you may not sell, assign, transfer, pledge or hypothecate the Award Shares. All regular cash dividends on the Award Shares held by the Company will be paid directly to you on the dividend payment date. As soon as practicable after vesting of the Award Shares, the Company will
deliver a share certificate to you, or deliver shares electronically or in certificate form to your designated broker on your behalf, for such vested Award Shares. Upon the request of the Committee, you shall deliver to the Company a stock power, endorsed in blank, with respect to any Award Shares that have been forfeited pursuant to this Agreement. 

     6. Tax Election and Tax Withholding.

          (a) You hereby agree to make adequate provision for foreign, federal, state and local taxes required by law to be withheld, if any, which arise in connection with the grant or vesting of the Award Shares. The Company shall have the right to deduct from any compensation or any other payment of any kind (including withholding the issuance of shares of Common Stock) due you the amount of any federal, state, local or foreign taxes required by law to be withheld as a result of the grant or vesting of the Award Shares in whole or in part; provided, however, that the value of the shares of Common Stock withheld may not exceed the statutory minimum withholding amount required by law. In lieu of such deduction, the Company may require you to make a cash payment to the Company equal to the amount required to be withheld. If you do not make such payment when requested, the Company may refuse to issue any Common
Stock certificate under this Agreement until arrangements satisfactory to the Committee for such payment have been made. 

          (b) You hereby acknowledge that you have been advised by the Company to seek independent tax advice from your own advisors regarding the availability and advisability of making an election under Section 83(b) of the Internal Revenue Code of 1986, as amended, and that any such election, if made, must be made within 30 days of the Grant Date. You expressly acknowledge that you are solely responsible for filing any such Section 83(b) election with the appropriate governmental authorities, irrespective of the fact that such election is also delivered to the Company. You may not rely on the Company or any of its officers, directors or employees for tax or legal advice regarding this award. You acknowledge that you have sought tax and legal advice from your own advisors regarding this award or have voluntarily and knowingly foregone such consultation. 

     7. Adjustments for Corporate Transactions and Other Events. 

          (a) Stock Dividend, Stock Split and Reverse Stock Split. Upon a stock dividend of, or stock split or reverse stock split affecting, the Common Stock, the number of Award Shares and the number of such Award Shares that are nonvested and forfeitable shall, without further action of the Committee, be adjusted to reflect such event. Fractional shares that result from such adjustments shall

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be eliminated. Adjustments under this Section 7 will be made by the Committee, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive. 

          (b) Binding Nature of Agreement. The terms and conditions of this Agreement shall apply with equal force to any additional and/or substitute securities received by you in exchange for, or by virtue of your ownership of, the Award Shares, to the same extent as the Award Shares with respect to which such additional and/or substitute securities are distributed, whether as a result of any spin-off, stock split-up, stock dividend, stock distribution, other reclassification of the Common Stock of the Company, or similar event. If the Award Shares are converted into or exchanged for, or stockholders of the Company receive by reason of any distribution in total or partial liquidation or pursuant to any merger of the Company or acquisition of its assets, securities of another entity, or other property (including cash), then the rights of the
Company under this Agreement shall inure to the benefit of the Company’s successor, and this Agreement shall apply to the securities or other property received upon such conversion, exchange or distribution in the same manner and to the same extent as the Award Shares. 

          8. Non-Guarantee of Employment or Service Relationship. Nothing in the Plan or this Agreement shall alter your at-will or other employment status or other service relationship with the Company, nor be construed as a contract of employment or service relationship between the Company and you, or as a contractual right of you to continue in the employ of, or in a service relationship with, the Company for any period of time, or as a limitation of the right of the Company to discharge you at any time with or without cause or notice and whether or not such discharge results in the forfeiture of any Award Shares or any other adverse effect on your interests under the Plan. 

          9. Rights as Stockholder. Except as otherwise provided in this Agreement with respect to the nonvested and forfeitable Award Shares, you will possess all incidents of ownership of the Award Shares, including the right to vote the Award Shares and receive dividends and/or other distributions declared on the Award Shares. 

          10. The Company’s Rights. The existence of the Award Shares shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company's capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or other stocks with preference ahead of or convertible into, or otherwise affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of the Company's assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

          11. Notices. All notices and other communications made or given pursuant to this Agreement shall be in writing and shall be sufficiently made or given if hand delivered or mailed by certified mail, addressed to you at the address contained in the records of the Company, or addressed to the Committee, care of the Company for the attention of its Corporate Secretary at its principal executive office or, if the receiving party consents in advance, transmitted and received via telecopy or via such other electronic transmission mechanism as may be available to the parties. 

          12. Entire Agreement. This Agreement contains the entire agreement between the parties with respect to the Award Shares granted hereunder. Any oral or written agreements, representations, warranties, written inducements, or other communications made prior to the execution of this Agreement with respect to the Award Shares granted hereunder shall be void and ineffective for all purposes. 

          13. Amendment. This Agreement may be amended from time to time by the Committee in its discretion; provided, however, that this Agreement may not be modified in a manner that would have a materially adverse effect on the Award Shares as determined in the discretion of the Committee, except as provided in the Plan or in a written document signed by each of the parties hereto. 

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          14. Conformity with Plan. This Agreement is intended to conform in all respects with, and is subject to all applicable provisions of, the Plan. Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of the Plan. In the event of any ambiguity in this Agreement or any matters as to which this Agreement is silent, the Plan shall govern. A copy of the Plan is available upon request to the Committee in care of the Company’s Corporate Secretary. 

          15. Governing Law. The validity, construction and effect of this Agreement, and of any determinations or decisions made by the Committee relating to this Agreement, and the rights of any and all persons having or claiming to have any interest under this Agreement, shall be determined exclusively in accordance with the laws of the State of Tennessee, without regard to its provisions concerning the applicability of laws of other jurisdictions. Any suit with respect hereto will be brought in the federal or state courts in the districts which include Greeneville, Tennessee, and you hereby agree and submit to the personal jurisdiction and venue thereof. 

          16. Headings. The headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. 

          17. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

{Glossary appears on next page} 

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GLOSSARY 

          (a) “Affiliate” means any entity, whether now or hereafter existing, which controls, is controlled by, or is under common control with Forward Air Corporation (including but not limited to joint ventures, limited liability companies and partnerships). For this purpose, “control” means ownership of 50% or more of the total combined voting power of all classes of stock or interests of the entity. 

          (b) “Cause” means a felony conviction of you or the failure of you to contest prosecution for a felony, or your gross negligence, willful misconduct or dishonesty, any of which is directly or materially harmful to the business or reputation of the Company, as determined by the Committee in its sole discretion. 

          (c) “Change in Control” shall have the meaning ascribed thereto in the Plan. 

          (d) “Committee” means the Board of Directors of Forward Air Corporation or such committee or committees appointed by the Board to administer the Plan. 

          (e) “Company” means Forward Air Corporation and its Affiliates, except where the context otherwise requires. For purposes of determining whether a Change in Control has occurred, Company shall mean only Forward Air Corporation. 

          (f) “Disability” shall mean a disability as determined under procedures established by the Committee for purposes of the Plan. 

          (g) “Service” means your employment with the Company and its Affiliates. Your Service will be considered to have ceased with the Company and its Affiliates if, immediately after a sale, merger or other corporate transaction, the trade, business or entity with which you are employed or otherwise have a service relationship is not Forward Air Corporation or an Affiliate of Forward Air Corporation. 

          (h) “You”; “Your”. You means the recipient of the Award Shares as reflected in the first paragraph of this Agreement. Whenever the word “you” or “your” is used in any provision of this Agreement under circumstances where the provision should logically be construed, as determined by the Committee, to apply to the estate, personal representative, or beneficiary to whom the Award Shares may be transferred by will or by the laws of descent and distribution, the words “you” and “your” shall be deemed to include such person. 

{End of Agreement; Signature page follows.} 

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     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer. 

		FORWARD AIR CORPORATION
		 
		 
		By: _________________________________________
		 
		 
		Date: _______________________________________ 

The undersigned hereby acknowledges that he/she has carefully read this Agreement and agrees to be bound by all of the provisions set forth herein. 

	WITNESS:	GRANTEE
	 	 
	 	 
	_________________________________________	_________________________________________
		 
	  	Date: _____________________________________

Enclosure: Prospectus for the Forward Air Corporation Restated 1999 Stock Option and Incentive Plan 

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STOCK POWER 

     FOR VALUE RECEIVED, the undersigned, ________________, hereby sells, assigns and transfers unto Forward Air Corporation, a Tennessee corporation (the “Company”), or its successor, ______________ shares of common stock, par value $.01 per share, of the Company standing in my name on the books of the Company, represented by Certificate No. ____________ or an appropriate book entry notation, and hereby irrevocably constitutes and appoints ______________________________________________________ as my attorney-in-fact to transfer the said stock on the books of the Company with full power of substitution in the premises.

	WITNESS:  	 
	______________________________	___________________________________________
	  	Dated: _____________________________________

IMPORTANT TAX INFORMATION 

INSTRUCTIONS REGARDING SECTION 83(b) ELECTIONS 

	1.	   	
The 83(b) Election is Irrevocable. The 83(b) Election is a voluntary election that is available to you. It is your decision whether to file an 83(b) Election.

	 
	2.		
If you choose to make an 83(b) Election, the 83(b) Election Form must be filed with the Internal Revenue Service within 30 days of the Grant Date; no exceptions to this rule are made.

	 
	3.		
You must provide a copy of the 83(b) Election Form to the Corporate Secretary or other designated officer of the Company. This copy should be provided to the Company at the same time that you file your 83(b) Election Form with the Internal Revenue Service.

	 
	4.		
In addition to making the filing under Item 2 above, you must attach a copy of your 83(b) Election Form to your tax return for the taxable year that includes the Grant Date.

	 
	5.		
If you make an 83(b) Election and later forfeit the Award Shares, you will not be entitled to a refund of the taxes paid with respect to the gross income you recognized under the 83(b) Election.

	 
	6.		
You must consult your personal tax advisor before making an 83(b) Election. The attached election forms are intended as samples only, they must be tailored to your circumstances and may not be relied upon without consultation with a personal tax advisor.

SECTION 83(b) ELECTION FORM 

Election Pursuant to Section 83(b) of the Internal Revenue Code to Include Property in Gross
Income in Year of Transfer 

     The undersigned hereby makes an election pursuant to Section 83(b) of the Internal Revenue Code with respect to the property described below and supplies the following information in accordance with the regulations promulgated thereunder: 

     1. The name, address, and taxpayer identification number of the undersigned are: 

		____________________________________
		____________________________________
	          	____________________________________
		___-__-____  

     2. The property with respect to which the election is made is _________ shares of Common Stock, par value $.01 per share, of Forward Air Corporation, a Tennessee corporation (the “Company”). 

     3. The date on which the property was transferred was February 12, 2006, the date on which the taxpayer received the property pursuant to a grant of restricted stock. 

     4. The taxable year to which this election relates is calendar year 2006. 

     5. The property is subject to restrictions in that the property is not transferable and is subject to a substantial risk of forfeiture until the taxpayer vests in the property. The taxpayer will vest in one-third of the shares of Common Stock on February 12th of each of calendar years 2007, 2008 and 2009, provided the taxpayer is in the employ of the Company on such dates. Vesting also may accelerate upon the occurrence of certain events.

     6. The fair market value at the time of transfer (determined without regard to any restrictions other than restrictions which by their terms will never lapse) of the property with respect to which this election is being made is $ ________________ per share; with a cumulative fair market value of $______________. The taxpayer did not pay any amount for the property transferred. 

     7. A copy of this statement was furnished to Forward Air Corporation, for whom the taxpayer rendered the services underlying the transfer of such property. 

     8. This election is made to the same effect, and with the same limitations, for purposes of any applicable state statute corresponding to Section 83(b) of the Internal Revenue Code. 

     The undersigned understands that the foregoing election may not be revoked except with the consent of the Commissioner of Internal Revenue. 

     Signed: _________________________________________________

     Date:     __________________________

Letter for filing §83(b) Election Form 

[Date] 

CERTIFIED MAIL
RETURN RECEIPT REQUESTED 

Internal Revenue Service Center 

__________________________________

__________________________________

__________________________________

(the Service Center to which individual income tax return is filed) 

	 	Re:  	83(b) Election of [Name]  
		  	Social Security Number:       ________________________

Dear Sir/Madam: 

     Enclosed is an election under §83(b) of the Internal Revenue Code of 1986, as amended, with respect to certain shares of stock of Forward Air Corporation, a Tennessee corporation, that were transferred to me on February 12, 2006. 

     Please file this election. 

		Sincerely,  
		
		___________________________________
		[Name] 

cc: Corporate Secretary of Forward Air CorporationExhibit  10.1

                                 PROMISSORY NOTE

<TABLE>
<CAPTION>

<S>             <C>          <C>          <C>         <C>        <C>      <C>      <C>

  Principal     Loan Date    Maturity      Loan  No   Call/Coll  Account  Officer  Initials
$2,961,429.02   02-28-2006   03-01-2009   1921462160                       JOHNK

</TABLE>

References  in  the  shaded  area are for Lender's use only and do not limit the
applicability  of  this  document  to  any  particular  loan  or  item.
          Any  item  above  containing "***" has been omitted due to text length
limitations.

<TABLE>
<CAPTION>

<S>                                                                       <C>

Borrower:  Marine  Holdings,  Inc.,  wholly  owned  subsidiary  of        Lender:  Sun  Security  Bank
           Xtreme  Companies,  Inc.
           300  Westlink                                                           Cottleville
           Washington,  MO  63090                                                  4700 Mid  Rivers  Mall  Dr.
                                                                                   St.  Peters,  MO  63376
</TABLE>

Principal  Amount:  $2,961,429.02          Initial  Rate:  8.500%

                        Date Of Note: February 28, 2006

PROMISE  TO  PAY.  Marine  Holdings,  Inc.,  a wholly owned subsidiary of Xtreme
Companies, Inc. ("Borrower") promises to pay to Sun Security Bank ("Lender"), or
order,  in lawful money of the United States of America, the principal amount of
Two  Million  Nine  Hundred Sixty-one Thousand Four Hundred Twenty-nice & 02/100
Dollars  ($2,961,429.02), together with interest on the unpaid principal balance
from  February  27,  2006,  until  paid  in  full.

PAYMENT.  Borrower  will pay this loan in full immediately upon Lender's demand.
If  no  demand is made, subject to any payment changes resulting from changes in
the  index,  Borrower  will pay this loan in 35 principal payments of $14,102.04
each  and  one  final principal and interest payment of 2,484,172.90. Borrower's
first  principal  payment  is  due  April  1, 2006, and all subsequent principal
payments are due on the same day of each month after that. In addition, Borrower
will  pay regular monthly payments of all accrued unpaid interest due as of each
payment  date, beginning April 1, 2006, with all subsequent interest payments to
be  due  on  the  same day of each moth after that. Borrower's final payment due
March  1, 2009, will be for all principal and all accrued interest not yet paid.
Unless  otherwise agreed or required by applicable law, payments will be applied
first  to  any  accrued  unpaid  interest; then to principal; then to any unpaid
collection costs; and then to any late charges. Te annual interest for this Note
is  computed  on  a  365/360 basis; that is, by applying the ratio of the annual
interest  rate  over a year of 360 days, multiplied by the outstanding principal
balance,  multiplied  by  the  actual  number  of  days the principal balance is
outstanding. Borrower will pay Lender at Lender's address shown above or at such
other  place  as  Lender  may  designate  in  writing.

VARIABLE INTEREST RATE. The interest rate on this Note is subject to change from
time  to  time  based  on changes in an independent index which is the U.S. Bank
Prime  Rate  (the "Index"). The Index is not necessarily the lowest rate charged
by Lender on its loans. If the Index becomes unavailable during the term of this
loan,  Lender  may designate a substitute index after notice to Borrower. Lender
will  tell Borrower the current Index rate upon Borrower's request. The interest
rate  change  will not occur more often than each day. Borrower understands that
Lender  may  make  loans  based  on  other rates as well. The Index currently is
7.500%  per  annum.  The  interest  rate  to  be applied to the unpaid principal
balance of this Note will be at a rate of 1.000 percentage point over the Index,
resulting in an initial rate of 8.500% per annum. Notwithstanding the foregoing,
the variable interest rate or rates provided for in this Note will be subject to
the following minimum and maximum rates. NOTICE: Under no circumstances will the
interest  rate  on  this  Note  be  less  that 6.500% per annum or more than the
maximum  rate  allowed  by  applicable  law.

PREPAYMENT  PENALTY; MINIMUM INTEREST CHARGE. Borrower agrees that all loan fees
and  other  prepaid  finance charges are earned fully as of the date of the loan
and  will not be subject to refund upon early payment (whether voluntary or as a
result of default), except as otherwise required by law. In any event, even upon
full  prepayment of this Note, Borrower understands that Lender is entitled to a
minimum  interest  charge  of  $10.00.  Upon  prepayment of this Note, Lender is
entitled  to  the  following  prepayment  penalty: 2% prepayment penalty if loan
refinanced  prior  to  maturity.  Other  than  Borrower's  obligation to pay any
minimum  interest  charge  and  prepayment  penalty,  Borrower  may pay all or a
portion  of  the  amount  owed  earlier  than it is due. Earl payments will not,
unless agreed to by Lender in writing, relieve Borrower of Borrower's obligation
to  continue to make payments under the payment schedule. Rather, early payments
will  reduce the principal balance due and may result in Borrower's making fewer
payments.  Borrower  agrees  not  to send Lender payments marked "paid in full",
"without  recourse",  or  similar  language.  If  Borrower sends such a payment,
Lender  may accept it without losing any of Lender's rights under this Note, and
Borrower  will  remain  obligated  to pay any further amount owed to Lender. All
written communications concerning disputed amounts, including any check or other
payment instrument that indicates that the payment constitutes "payment in full"
of  the  amount owed or that is tendered with other conditions or limitations or
as  full  satisfaction  of a disputed amount must be mailed or delivered to: Sun
Security  Bank,  Cottleville,  4700  Mid  Rivers Mall Dr., St. Peters, MO 63376.

LATE  CHARGE.  If  a payment is more than 10 days late, Borrower will be charged
5.000%  of  the  unpaid  portion  of  the regularly scheduled payment or $25.00,
whichever  is  greater.

INTEREST  AFTER  DEFAULT.  Upon  default,  including  failure  to pay upon final
maturity,  Lender,  at  its  option, may, if permitted under the applicable law,
increase the variable interest rate on this Note to 5.000 percentage points over
the  Index.  The  interest  rate  will  not exceed the maximum rate permitted by
applicable  law.

DEFAULT.  Each  of the following shall constitute an event of default ("Event of
Default")  under  this  Note:

     Payment  Default.  Borrower  fails  to  make  any  payment  when  due under
     this Note.

     Other  Defaults.  Borrower  fails  to  comply  with or to perform any other
     term, obligation, covenant or condition contained in this Note or in any of
     the related documents or to comply with or to perform any term, obligation,
     covenant  or  condition contained in any other agreement between Lender and
     Borrower.

     False  Statements.  Any  warranty,  representation  or  statement  made  or
     furnished  to Lender by Borrower or on Borrower's behalf under this Note or
     the  related  documents  is  false  or  misleading in any material respect,
     either  now or at the time made or furnished or becomes false or misleading
     at any time thereafter.

     Insolvency.  The  dissolution  or  termination  of  Borrower's existence as
     a going business, the insolvency of Borrower, the appointment of a receiver
     for  any  part  of  Borrower's  property, any assignment for the benefit of
     creditors,  any  type  of  creditor  workout,  or  the  commencement of any
     proceeding under any bankruptcy or insolvency laws by or against Borrower.

     Creditor  or  Forfeiture  Proceedings.  Commencement  of  foreclosure  or
     forfeiture  proceedings,  whether  by  judicial  proceeding,  self-help,
     repossession  or  any  other  method, by any creditor of Borrower or by any
     governmental agency against any collateral securing the loan. This includes
     a  garnishment  of  any of Borrower's accounts, including deposit accounts,
     with  Lender.  However, this Event of Default shall not apply if there is a
     good  faith dispute by Borrower as to the validity or reasonableness of the
     claim  which  is  the basis of the creditor or forfeiture proceeding and if
     Borrower  gives  Lender  written  notice  of  the  creditor  or  forfeiture
     proceeding  and  deposits  with  Lender  monies  or  a  surety bond for the
     creditor or forfeiture proceeding, in an amount determined by Lender in its
     sole discretion, as being an adequate reserve or bond for the dispute.

     Events  Affecting  Guarantor.  Any  of  the  preceding  events  occurs with
     respect  to  any Guarantor of any of the indebtedness or any Guarantor dies
     or  becomes  incompetent,  or  revokes  or  disputes  the  validity  of, or
     liability  under,  any guaranty of the indebtedness evidenced by this Note.
     In  the  event  of  a  death,  Lender, at its option, may, but shall not be
     required  to,  permit  the Guarantor's estate to assume unconditionally the
     obligations  arising under the guaranty in a manner satisfactory to Lender,
     and, in doing so, cure any Event of Default.

     Change  in  Ownership.  Any  change  in  ownership  of  twenty-five percent
     (25%) or more of the common stock of Borrower.

     Adverse  Change.  A  material  adverse  change  occurs  in  Borrower's
     financial  condition,  or  Lender  believes  the  prospect  of  payment  or
     performance of this Note is impaired.

     Insecurity.  Lender  in  good  faith  believes  itself  insecure.

     Cure  Provisions.  If  any  default,  other  than  a  default in payment is
     curable and if Borrower has not been given a notice of a breach of the same
     provision  of  this Note within the preceding twelve (12) months, it may be
     cured  if  Borrower,  after  receiving written notice from Lender demanding
     cure of such default: (1) cures the default within twenty (20) days; or (2)
     if  the  cure  requires  more  than twenty (20) days, immediately initiates
     steps  which  Lender  deems in Lender's sole discretion to be sufficient to
     cure  the default and thereafter continues and completes all reasonable and
     necessary  steps  sufficient  to  produce  compliance as soon as reasonably
     practical.

LENDER'S  RIGHTS.  Upon  default, Lender may declare the entire unpaid principal
balance  immediately  due,  and  then  Borrower  will  pay  that  amount.

COLLATERAL. Borrower acknowledges this Note is secured by the flowing collateral
described  in  the  security  instruments  listed  herein:

     (A)  a  Deed  of  Trust  executed  on  February  28,  2006, to a trustee in
     favor  of  Lender  on  real  property  located in Franklin County, State of
     Missouri.  The  Deed  of  Trust  secures  future  advances  up to a maximum
     principal  amount of $2,961,429.02 and which is governed by R.S.MO. Section
     443.005.

     (B)  an  Assignment  of  All  Rents  to  Lender on real property located in
     Franklin County, State of Missouri.

     (C)  inventory,  accounts,  equipment,  general  intangibles  and  fixtures
     described in a Commercial Security Agreement executed on February 28, 2006.

     (D)  deposit  accounts  described  in  an  Assignment  of  Deposit  Account
     executed on February 28, 2006.

ATTORNEY'S  FEES;  EXPENSES. Lender may hire or pay someone else to help collect
this  Note  if Borrower does not pay. Borrower will pay Lender that amount. This
includes,  subject  to any limits under applicable law, Lender's attorneys' fees
and  Lender's  legal  expenses  whether  or  not  there  is a lawsuit, including
attorneys'  fees  and  expenses for bankruptcy proceedings (including efforts to
modify  or  vacate  any  automatic  stay  or  injunction),  and  appeals. If not
prohibited  by  applicable  law,  Borrower  also  will  pay  any court costs, in
addition  to  all  other  sums  provided  by  law.

GOVERNING  LAW.  This  Note will be governed by federal law applicable to Lender
and,  to  the  extent  not  preempted  by  federal law, the laws of the State of
Missouri  without  regard to its conflicts of law provisions. This Note has been
accepted  by  Lender  in  the  State  of  Missouri.

DISHONORED  ITEM  FEE.  Borrower  will pay a fee to Lender of $25.00 if Borrower
makes  a  payment  on Borrower's loan and the check or preauthorized charge with
which  Borrower  pays  is  later  dishonored.

RIGHT  OF  SETOFF.  To the extent permitted by applicable law, Lender reserves a
right  of  setoff  in  all  Borrower's  accounts  with Lender (whether checking,
savings,  or  some  other  account).  This  includes all accounts Borrower holds
jointly  with  someone  else  and  all accounts Borrower may open in the future.
However,  this does not include any IRA or Keogh accounts, or any trust accounts
for  which setoff would be prohibited by law. Borrower authorizes Lender, to the
extent  permitted  by  applicable law, to charge or setoff all sums owing on the
indebtedness  against  any  and  all  such  accounts.

DELIVERY  OF  BOAT. Marine Holdings, Inc., must pay bank in full before any boat
leaves  production facility (300 Westlink Drive, Washington, MO) for delivery to
customer  or  customer's  agent.

SUCCESSOR  INTERESTS. The terms of this Note shall be binding upon Borrower, and
upon  Borrower's  heirs,  personal  representatives, successors and assigns, and
shall  inure  to  the  benefit  of  Lender  and  its  successors  and  assigns.
GENERAL  PROVISIONS.  This  Note is payable on demand. The inclusion of specific
default  provisions  or  rights  of  Lender shall not preclude Lender's right to
declare  payment  of this Note on its demand. If any part of this Note cannot be
enforced,  this  fact will not affect the rest of the Note. Lender may not delay
or  forgo enforcing any of its rights or remedies under this Note without losing
them. Borrower and any other person who signs, guarantees or endorses this Note,
to  the extent allowed by law, waive presentment, demand for payment, and notice
of  dishonor.  Upon  any  change in the terms of this Note, and unless otherwise
expressly  stated  in  writing,  no party who signs this Note, whether as maker,
guarantor,  accommodation  maker  or endorser, shall be released from liability.
All  such  parties agree that Lender may renew or extend (repeatedly and for any
length  of  time)  this loan or release any party or guarantor or collateral; or
impair,  fail  to  realize  upon  or  perfect  Lender's security interest in the
collateral;  and  take  any  other action deemed necessary by Lender without the
consent  of  or  notice  to  anyone. All such parties also agree that Lender may
modify this loan without the consent of or notice to anyone other than the party
with  whom  the  modification is made. The obligations under this Note are joint
and  several.

ORAL  AGREEMENTS OF COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FOREBEAR FROM
ENFORCING  REPAYMENT  OF  A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT
ARE  NOT ENFORCEABLE, REGARDLESS OF THE LEGAL THEORY UPON WHICH IT IS BASED THAT
IS  IN ANY WAY RELATED TO THE CREDIT AGREEMENT. TO PROTECT YOU (BORROWER(S)) AND
US  (LENDER)  FROM  MISUNDERSTANDING  OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH
COVERING  SUCH  MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND
EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN
WRITING  TO  MODIFY  IT.

JURY WAIVER. Lender and Borrower hereby waive the right to any jury trial in any
action, proceeding, or counterclaim brought by either Lender or Borrower against
the  other.

PRIOR  TO  SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF
THIS  NOTE,  INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO
THE  TERMS  OF  THE  NOTE.

BORROWER  ACKNOWLEDGES  RECEIPT  OF  A  COMPLETED  COPY OF THIS PROMISSORY NOTE.

BORROWER:

MARINE  HOLDINGS,  INC.,  A  WHOLLY  OWNED  SUBSIDIARY OF XTREME COMPANIES, INC.

By:  /s/  Kevin  Ryan
     ----------------
Kevin  M.  Ryan,  C.E.O.  of  Marine  Holdings,  Inc.,
a  wholly  owned  subsidiary  of  Xtreme  Companies,  Inc.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]