Document:

EX-10.1

 

EXECUTION
COPY 
 Exhibit 10.1

VOTING AGREEMENT

     VOTING AGREEMENT, dated as of November 13, 2006 (this “Agreement”), by and between
DICK’S SPORTING GOODS, INC., a Delaware corporation (“Parent”), YANKEES ACQUISITION CORP.,
a Minnesota corporation and wholly owned subsidiary of Parent (“Subsidiary”) and certain
shareholders of GOLF GALAXY, INC., a Minnesota corporation (the “Company”), each identified
as a signatory hereto (each a “Shareholder” and collectively, the “Shareholders”).

     WHEREAS, simultaneously with the execution of this Agreement, Parent, Subsidiary and the
Company are entering into an Agreement and Plan of Merger, dated as of the date hereof,
substantially in the form previously provided to the Shareholders (the “Merger Agreement”),
pursuant to which Subsidiary will merge with and into the Company with the Company being the
surviving corporation (the “Merger”);

     WHEREAS, as of the date hereof, each Shareholder is the Beneficial Owner of the outstanding
shares of Company Common Stock set forth opposite such Shareholder’s name on Schedule A
hereto;

     WHEREAS, as an inducement and a condition to Parent and Subsidiary entering into the Merger
Agreement and incurring the obligations set forth therein, the Shareholders have agreed to enter
into this Agreement;

     WHEREAS, the Company represents and warrants in Section 4.1.1(a) of the Merger Agreement that
the issued and outstanding capital stock of the Company as of the date hereof is as set forth in
Recital 2 of the Merger Agreement, which representation is a material fact to Parent and Subsidiary
upon which Parent and Subsidiary rely as an inducement to enter into this Agreement; and

     WHEREAS, the Shareholders will benefit directly and substantially from the Merger Agreement.

     NOW, THEREFORE, in consideration of the foregoing and the mutual premises, representations,
warranties, covenants and agreements contained herein and in the Merger Agreement, the parties
hereto, intending to be legally bound hereby, agree as follows:

     1. Certain Definitions. Capitalized terms used but not defined herein shall have the
meanings ascribed to them in the Merger Agreement. In addition, for purposes of this Agreement:

     “Affiliate” means, with respect to any specified Person, any Person that directly, or
indirectly through one or more intermediaries, controls, or is controlled by, or is under common
control with, the Person specified. For purposes of this Agreement, with respect to any
Shareholder, “Affiliate” shall not include the Company or the Persons that directly, or indirectly
through one or more intermediaries, are controlled by the Company.

     “Beneficially Owned” or “Beneficial Ownership” with respect to any securities
means having voting power and/or investment power (as determined pursuant to Rule 13d-3(a) under

 

 

the Exchange Act) over such securities, including pursuant to any agreement, arrangement or
understanding, whether or not in writing. Without duplicative counting of the same securities by
the same holder, securities Beneficially Owned by a Person shall include securities Beneficially
Owned by all Affiliates of such Person and all other Persons with whom such Person would constitute
a “Group” within the meaning of Section 13(d) of the Exchange Act and the rules promulgated
thereunder.

     “Beneficial Owner” with respect to any securities means a Person who has Beneficial
Ownership of such securities.

     “Person” means an individual, corporation, partnership, limited liability company,
association, trust or other entity or organization, including a government or political subdivision
or an agency or instrumentality thereof.

     “Transfer” means, with respect to a security, the sale, transfer, pledge,
hypothecation, encumbrance, assignment or disposition of such security or the Beneficial Ownership
thereof (other than by operation of law), the offer to make such a sale, transfer or other
disposition, and each option, agreement, arrangement or understanding, whether or not in writing,
to effect any of the foregoing. As a verb, “Transfer” shall have a correlative meaning.

     “Subject Shares” means, as to any Shareholder, that number of Owned Shares set forth
on Schedule B hereto opposite such Shareholder’s name.

     2. Representations and Warranties; Beneficial Ownership. Each Shareholder hereby
individually (and not jointly or severally) represents and warrants to Parent that:

     (a) Such Shareholder Beneficially Owns or controls (regardless of in what capacity) the number
of shares of the Company’s common stock, par value $0.01 per share, set forth on Schedule A
hereto (each Shareholder’s “Owned Shares”) free from any lien, encumbrance or restriction
whatsoever and with full power to vote the Owned Shares without the consent or approval of any
other person, and that the Owned Shares constitute all of the capital stock of the Company
Beneficially Owned by such Shareholder, except options to acquire shares of Company Common Stock.

     (b) Such Shareholder has all necessary power and authority and legal capacity to execute and
deliver this Agreement and perform its obligations hereunder. In the case of each Shareholder who
is not a natural person, no other proceedings or actions on the part of such Shareholder are
necessary to authorize the execution, delivery or performance of this Agreement or the consummation
of the transactions contemplated hereby;

     (c) This Agreement has been duly and validly executed and delivered by such Shareholder and
when duly and validly executed and delivered by Parent and Subsidiary will constitute a valid and
binding agreement of such Shareholder, enforceable in accordance with its terms; and

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     (d) Each Shareholder understands and acknowledges that Parent and Subsidiary are entering into
the Merger Agreement in reliance upon such Shareholder’s execution, delivery and performance of
this Agreement.

3. Agreement to Vote. From the date hereof until the termination of this Agreement
pursuant to Section 7, each Shareholder agrees that he, she or it will (a) at such time as the
Company conducts a meeting (including any adjournment thereof) of or otherwise seeks a vote or
consent of its shareholders for the purpose of approving the Merger Agreement and the transactions
contemplated by the Merger Agreement, including the Merger, such Shareholder will vote, or provide
a consent with respect to, the Subject Shares in favor of approving the Merger Agreement and the
transactions contemplated by such Agreement, including the Merger, and (b) such Shareholder will
(at any meeting of shareholders or in connection with any consent solicitation) vote all Subject
Shares against, and will not consent to, any Takeover Proposal with a Person other than Parent and
Subsidiary or any action that would or is designed to delay, prevent or frustrate the Merger.

4. No Transfer or Solicitation. Each Shareholder agrees that from and after the date
hereof and other than as contemplated by the Merger Agreement or as a result of the death,
liquidation or dissolution of Shareholder (so long as such transferee takes such shares subject to
this Agreement, including its terms and restrictions and agrees to be bound hereby as though an
original signature hereto), he, she or it will not (a) directly or indirectly Transfer or enter
into any contract, option, commitment or other arrangement or understanding with respect to the
Transfer of any of the Owned Shares, other than to any Person (including any Affiliate of the
transferring Shareholder) who agrees to be bound by the terms of this Agreement; (b) exercise any
dissenters rights available to such Shareholder pursuant to Sections 302A.471 and 302A.473 of the
Minnesota Business Corporation Act; and (c) take any action or omit to take any action which would
prohibit, prevent or preclude such Shareholder from performing its obligations under this
Agreement. Each Shareholder will use his, her or its reasonable best efforts to ensure that his,
her or its investment bankers, attorneys, accountants, agents or other advisors and representatives
do not take action in contravention of this Section 4.

5. Reasonable Efforts. Each Shareholder agrees to execute and deliver all such further
documents, certificates and instruments and to take all reasonable actions as may be necessary or
appropriate to effect the agreement to vote the Subject Shares as provided in Section 3.

6. Inadequate Remedy at Law. The Shareholders understand, agree and acknowledge that
irreparable damage would occur in the event that any of the provisions of this Agreement were not
performed by it in accordance with their specific terms or were otherwise breached. It is
accordingly agreed that (a) Parent and Subsidiary shall be entitled to an injunction or injunctions
to prevent breaches of this Agreement by any Shareholder to enforce specifically the terms and
provisions hereof in any court of the United States or any state having jurisdiction, this being in
addition to any other remedy to which it is entitled at law or in equity, and (b) that each
Shareholder waives, in any action for specific performance, the defense of adequacy of a remedy at
law, and the posting of any bond or security in connection with any proceeding related thereto.

7. Termination. This Agreement, and all rights and obligations hereunder, shall terminate
upon the earlier to occur of (a) the Effective Time of the Merger, (b) the date of termination of

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the Merger Agreement in accordance with Section 7 of the Merger Agreement, (c) the date on which
the Merger Agreement is amended, or any provision thereof is waived, in either case in a manner
that would reasonably be expected to have an adverse effect on any Shareholder, and (d) any date on
which Parent or Subsidiary are or become in material violation of the terms of the Merger
Agreement.

8. Shareholder Capacity. No Shareholder executing this Agreement nor any partner, member,
employee or Affiliate of a Shareholder who is or becomes during the term hereof a director or
officer of the Company makes any agreement or understanding herein in his or her capacity as such a
director or officer of the Company, and this Agreement does not bind any partner, member, employee
or Affiliate of a Shareholder in such person’s capacity as a director or officer. Each Shareholder
executing this Agreement does so solely in such Shareholder’s capacity as the owner of record
and/or Beneficial Owner of the Owned Shares and nothing herein shall limit or affect any actions
taken or omitted to be taken by a Shareholder, or any partner, member, employee or Affiliate of a
Shareholder, in his or her capacity as an officer or director of the Company (including, for the
avoidance of doubt, any action in the discharge of fiduciary duties in compliance with Section
5.1.8 of the Merger Agreement); provided that, nothing in this Section 8 shall be deemed to
permit any Shareholder to take any action on behalf of the Company that is prohibited by the Merger
Agreement (including, but not limited to, taking or causing any other Person to directly or
indirectly take any action that would be prohibited by the Company or its Representatives under
section 5.1.8 of the Merger Agreement).

9. Maximum Shares Subject to Agreement. Notwithstanding anything to the contrary in this
Agreement, nothing in this Agreement shall be construed as requiring the Shareholders to vote their
Subject Shares representing collectively in the aggregate more than 19.99% of the issued and
outstanding shares of Company Common Stock in favor of the approval of the Merger Agreement and the
transactions contemplated by the Merger Agreement, including the Merger. In the event that the
aggregate number of Subject Shares held by the Shareholders exceeds 19.99% of the issued and
outstanding shares of Company Common Stock, then each Shareholder agrees to vote, or cause to be
voted, a Proportionate Share of its Subject Shares in favor of the approval of the Merger Agreement
and the transactions contemplated by the Merger Agreement, including the Merger, such that the
aggregate number of Subject Shares shall equal but not exceed 19.99% of the issued and outstanding
shares of Company Common Stock. The “Proportionate Share” for each Shareholder shall be
equal to the product of (i) the number of shares representing 19.99% of the issued and outstanding
shares of Company Common Stock, multiplied by (ii) the quotient of the number of Owned Shares held
by such Shareholder divided by the aggregate number of Owned Shares held by all of the
Shareholders.

10. Miscellaneous.

     (a) Severability. If any provision of this Agreement shall be invalid or
unenforceable under applicable law, such provision shall be ineffective to the extent of such
invalidity or unenforceability only, without it affecting the remaining provisions of this
Agreement.

     (b) Amendments and Waivers. This Agreement may not be amended, changed, supplemented,
or otherwise modified or terminated, except upon the execution and delivery of a written agreement
executed by the parties hereto; provided that, Parent may waive compliance

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by any other party with any representation, agreement or condition otherwise required to be
complied with by any other party under this Agreement or release any other party from its
obligations under this Agreement, but any such waiver or release shall be effective only if in a
writing executed by Parent.

     (c) Assignment. This Agreement and all of the provisions hereof shall be binding upon
and inure to the benefit of the parties and their respective successors, personal or legal
representatives, executors, administrators, heirs, distributees, devisees, legatees and permitted
assigns, but neither this Agreement nor any of the rights, interests or obligations hereunder shall
be assigned by any party (whether by operation of law or otherwise), in whole or in part, without
the prior written consent of the other parties; provided, that Parent may assign any or all rights
under this Agreement to any subsidiary of Parent.

     (d) Entire Agreement; No Third Party Beneficiaries. This Agreement, along with the
specific references to the Merger Agreement, constitutes the complete, final and exclusive
agreement among the parties and supersedes any and all prior agreements and understandings, written
or oral, among the parties heretofore made with respect to the subject matter hereof. Nothing in
this Agreement, express or implied, is intended to or shall confer upon any other Person any
rights, benefits or remedies of any nature whatsoever under or by reason of this Agreement.

     (e) Governing Law. This Agreement shall be governed by and construed in accordance
with the internal laws of the State of Minnesota without regard to any principles of conflict of
laws.

     (f) Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed to constitute an original. This Agreement shall become effective when one
counterpart signature page has been signed by each party hereto and delivered to the other party
(which delivery may be by facsimile).

[SIGNATURE PAGE FOLLOWS]

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[ VOTING AGREEMENT SIGNATURE PAGE 1 of 2   ]

     IN WITNESS WHEREOF, the Shareholders, Subsidiary and Parent have duly executed this Agreement
as of the date first above written.

	 	 	 	 	 	 	 
	 	 	DICK’S SPORTING GOODS, INC.	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 	 	 	 
	 
	 	 	 	 	 
	 
	 	Name:	 	 	 	 
	 
	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	YANKEES ACQUISITION CORP.	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 	 	 	 
	 
	 	 	 	 	 
	 
	 	Name:	 	 	 	 
	 
	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	WILLIAM BLAIR CAPITAL PARTNERS V, L.P.	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 	 	 	 
	 
	 	 	 	 	 
	 	 	Name: Gregg S. Newmark	 	 
	 	 	Title: Managing Director of Its General Partner	 	 
	 
	 	 	 	 	 	 
	 	 	PRIMUS CAPITAL FUND IV LIMITED PARTNERSHIP	 	 
	 
	 	By:	 	Primus Venture Partners IV Limited Partnership,	 	 
	 
	 	 	 	its General Partner	 	 
	 
	 	By:	 	Primus Venture Partners IV, Inc., its General	 	 
	 
	 	 	 	Partner	 	 
	 
	 	By:	 	Steven Rothman, its Secretary and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	PRIMUS EXECUTIVE FUND LIMITED PARTNERSHIP	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 	Primus Venture Partners IV Limited Partnership,	 	 
	 
	 	 	 	its General Partner	 	 
	 
	 	By:	 	Primus Venture Partners IV, Inc., its General	 	 
	 
	 	 	 	Partner	 	 
	 
	 	By:	 	Steven Rothman, its Secretary and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

 

 

[
VOTING AGREEMENT SIGNATURE PAGE 2 of 2   ]

	 	 	 	 	 	 	 
	 	 	FdG CAPITAL PARTNERS LLC	 	 
	 
	 	By:	 	FdG Capital Associates LLC, its Managing	 	 
	 
	 	 	 	Member	 	 
	 
	 	By:	 	David S. Gellman, Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	FdG —CHASE CAPITAL PARTNERS LLC	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 	FdG Capital Associates LLC, its	 	 
	 
	 	 	 	Management Member	 	 
	 
	 	By:	 	David S. Gellman, Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Randall K. Zanatta, an individual	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Gregory B. Maanum, an individual	 	 

 

 

SCHEDULE A

OWNED SHARES

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Number of Shares	 	Percentage of
	 	 	 	 	 	 	of Company	 	Company
	Name	 	 	 	 	 	Common Stock	 	Common Stock
	of	 	 	 	 	 	Beneficially	 	Beneficially
	Shareholder	 	Address	 	Owned1	 	Owned1
	William Blair Capital Partners V, L.P.
	 	222 West Adams Street	 	 	1,231,755	 	 	 	11.2	%
	 
	 	Chicago, IL  60606	 	 	 	 	 	 	 	 
	Primus Capital Fund IV Limited
Partnership
	 	5900 Landerbrook Drive, Suite 200	 	 	 	 	 	 	 	 
	Primus Executive Fund L.P.
	 	Cleveland, OH  44124	 	 	739,053	 	 	 	6.7	%
	FdG Capital Partners LLC
	 	299 Park Avenue, 16th Floor	 	 	 	 	 	 	 	 
	FdG — Chase Capital Partners LLC
	 	New York, NY  10171	 	 	963,158	 	 	 	8.8	%
	Randall K. Zanatta
	 	4721 White Oak Court	 	 	700,000	 	 	 	6.3	%
	 
	 	Eagan, MN  55122	 	 	 	 	 	 	 	 
	Gregory B. Maanum
	 	8040 Acorn Lane	 	 	500,000	 	 	 	4.5	%
	 
	 	Chanhassen, MN  55317	 	 	 	 	 	 	 	 
	TOTAL
	 	 	 	 	 	 	4,133,966	 	 	 	N/A	 

 

			
	1	 	Information from the Company’s definitive
proxy statement dated June 26, 2006.

 

 

SCHEDULE B

SUBJECT SHARES

	 	 	 	 	 	 	 	 	 
	Name	 	 	 	Percentage of
	of	 	Number of Subject Shares of 	 	Total Outstanding Shares of
	Shareholder	 	 Company Common Stock	 	Company Common Stock2
	William Blair Capital Partners V, L.P.
	 	 	656,602	 	 	 	5.96	%
	Primus Capital Fund IV L.P.
	 	 	 	 	 	 	 	 
	Primus Executive Fund L.P.
	 	 	393,961	 	 	 	3.57	%
	FdG Capital Partners LLC
	 	 	 	 	 	 	 	 
	FdG — Chase Capital Partners LLC
	 	 	513,423	 	 	 	4.66	%
	Randall K. Zanatta
	 	 	373,143	 	 	 	3.38	%
	Gregory B. Maanum
	 	 	266,531	 	 	 	2.42	%
	TOTAL
	 	 	2,203,660	 	 	 	19.99	%

 

			
	2	 	Calculated using 11,023,814 shares of
Company Common Stock issued and outstanding at September 29, 2006, as set forth
in the Company’s Form 10-Q for the quarter ended August 26, 2006.EX-10.2

 

Exhibit 10.2

EXECUTION VERSION

FIRST AMENDMENT TO SECOND AMENDED AND

RESTATED CREDIT AGREEMENT

     FIRST AMENDMENT, dated as of November 9, 2006, to the Second Amended and Restated Credit
Agreement referred to below (this “Amendment”) among DICK’S SPORTING GOODS, INC., a
Delaware corporation (“Borrower”), the lenders party hereto (“Lenders”), and
GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation, as agent for the Lenders (in such
capacity, “Agent”).

W I T N E S S E T H

     WHEREAS, Borrower, Lenders and Agent are parties to that certain Second Amended and Restated
Credit Agreement, dated as of July 28, 2004 (as amended, supplemented or otherwise modified from
time to time prior to the date hereof, the “Credit Agreement”); and

     WHEREAS, Borrower and Required Lenders have agreed to amend the Credit Agreement to permit the
Golf Acquisition (as defined herein), all in the manner, and on the terms and conditions, provided
for herein;

     NOW THEREFORE, in consideration of the premises and for other good and valuable consideration,
the receipt, adequacy and sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

     1. Definitions. Capitalized terms not otherwise defined herein (including in the
recitals hereto) shall have the meanings ascribed to them in the Credit Agreement as amended hereby
(the “Amended Credit Agreement”).

     2. Consent. As of the Amendment Effective Date (as hereinafter defined), Agent and
Required Lenders hereby consent to and acknowledge the formation by Borrower of Golf Subsidiary (as
defined below); provided that, Borrower shall, or shall cause Golf Subsidiary, to promptly comply
with Section 5.16 of the Credit Agreement upon the request of Agent or Required Lenders.

     3. Amendments. As of the Amendment Effective Date, Agent and Required Lenders hereby
amend the Credit Agreement as follows:

          (a) Amendment to Section 6.2(g) of the Credit Agreement. Section 6.2(g) of
the Credit Agreement is hereby amended and restated in its entirety to read as follows:

“(g) at any time after the consummation of the Merger, Investments
(A) by way of the acquisition of Stock or assets in each case constituting
Permitted Acquisitions in an aggregate amount not to exceed
$30,000,000 (including any Indebtedness assumed pursuant to Section

 

 

6.3(i)) in any
Fiscal Year, and (B) constituting the Golf Acquisition for an aggregate purchase
price not to exceed $230,000,000 (including any Indebtedness assumed pursuant to
Section 6.3(i)); provided that, in the case of the foregoing clauses (A)
and (B), immediately prior to, and immediately after giving effect to, such
Investment, Excess Availability is greater than $50,000,000, and”

          (b) Amendment to Annex A. Annex A to the Credit Agreement is hereby amended
adding the following new definitions in appropriate alphabetical order:

“‘Golf Acquisition’ shall mean the acquisition of Golf Galaxy by means of
a merger of Golf Subsidiary with and into Golf Galaxy, with Golf Galaxy
existing as the surviving corporation; provided that such acquisition
constitutes a Permitted Acquisition.

‘Golf Galaxy’ shall mean Golf Galaxy, Inc., a Minnesota corporation.

‘Golf Subsidiary’ shall mean Yankees Acquisition Corp., a Minnesota
corporation that is wholly-owned by Borrower, which was formed solely for purposes
of completing the Golf Acquisition.”

     4. Representations and Warranties. To induce Required Lenders and Agent to enter into
this Amendment, Borrower hereby represents and warrants that:

          (a) Each of the execution, delivery and performance by Borrower and each Guarantor of this
Amendment and the performance of the Amended Credit Agreement are (i) within Borrower’s and each
Guarantor’s corporate power and have been duly authorized by all necessary corporate and
shareholder action; (ii) do not contravene any provision of any Loan Party’s charter or bylaws or
equivalent organizational or charter or other constituent documents; (iii) do not violate any law
or regulation, or any order or decree of any court or Governmental Authority; (iv) do not conflict
with or result in the breach or termination of, constitute a default under or accelerate or permit
the acceleration of any performance required by, any indenture, mortgage, deed of trust, lease,
agreement or other instrument to which any Loan Party is a party or by which any Loan Party or any
of its property is bound; (v) do not result in the creation or imposition of any Lien upon any of
the property of any Loan Party other than those in favor of Agent, on behalf of itself and the
Lenders, pursuant to the Loan Documents; and (vi) do not require the consent or approval of any
Governmental Authority or any other Person.

          (b) This Amendment has been duly executed and delivered by or on behalf of Borrower and each
Guarantor.

          (c) Each of this Amendment and the Amended Credit Agreement constitutes a legal, valid and
binding obligation of Borrower and each Guarantor enforceable against Borrower in accordance with
its terms, except as enforceability may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar

2

 

laws
affecting creditors’ rights generally and by general equitable principles (whether enforcement is
sought by proceedings in equity or at law).

          (d) No Default or Event of Default has occurred and is continuing both before and after giving
effect to this Amendment.

          (e) No action, claim or proceeding is now pending or, to the knowledge of any Loan Party
signatory hereto, threatened against such Loan Party, at law, in equity or otherwise, before any
court, board, commission, agency or instrumentality of any federal, state, or local government or
of any agency or subdivision thereof, or before any arbitrator or panel of arbitrators, which
challenges such Loan Party’s right, power, or competence to enter into this Amendment or, to the
extent applicable, perform any of its obligations under this Amendment, the Amended Credit
Agreement or any other Loan Document, or the validity or enforceability of this Amendment, the
Amended Credit Agreement or any other Loan Document or any action taken under this Amendment, the
Amended Credit Agreement or any other Loan Document or which if determined adversely could have or
result in a Material Adverse Effect. To the knowledge of each Loan Party, there does not exist a
state of facts which is reasonably likely to give rise to such proceedings.

          (f) All representations and warranties of the Loan Parties contained in the Credit Agreement
and the other Loan Documents are true and correct as of the date hereof with the same effect as
though such representations and warranties had been made on and as of the date hereof, except to
the extent that any such representation or warranty expressly relates to an earlier date.

     5. Remedies. This Amendment shall constitute a Loan Document. The breach by any Loan
Party of any representation, warranty, covenant or agreement in this Amendment shall constitute an
immediate Event of Default hereunder and under the other Loan Documents.

     6. No Other Amendments. Except as expressly amended in Sections 2 and 3 hereof, the
Credit Agreement and the other Loan Documents shall be unmodified and shall continue to be in full
force and effect in accordance with their terms. In addition, this Amendment shall not be deemed a
waiver of any term or condition of any Loan Document by the Agent or the Lenders with respect to
any right or remedy which the Agent or the Lenders may now or in the future have under the Loan
Documents, at law or in equity or otherwise or be deemed to prejudice any rights or remedies which
the Agent or the Lenders may now have or may have in the future under or in connection with any
Loan Document or under or in connection with any Default or Event of Default which may now exist or
which may occur after the date hereof. The Credit Agreement and all other Loan Documents are
hereby in all respects ratified and confirmed.

     7. Expenses. Borrower hereby reconfirms its obligations pursuant to Section
11.2 of the Credit Agreement to pay and reimburse Agent for all reasonable out-of-pocket
expenses (including, without limitation, reasonable fees of counsel) incurred in

3

 

connection with the negotiation, preparation, execution and delivery of this Amendment and all
other documents and instruments delivered in connection herewith.

     8. Effectiveness. This Amendment shall become effective as of November 9, 2006 (the
“Amendment Effective Date”) only upon satisfaction in full in the judgment of the Agent of
each of the following conditions on or prior to such date:

          (a) Amendment. Agent shall have received eight (8) original copies of this Amendment
duly executed and delivered by Agent, Required Lenders and Borrower and acknowledged by the other
Loan Parties.

          (b) Representations and Warranties. All representations and warranties contained in
this Amendment shall be true and correct on and as of the Amendment Effective Date.

     9. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND INTERPRETED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF NEW YORK.

     10. Counterparts. This Amendment may be executed by the parties hereto on any number
of separate counterparts and all of said counterparts taken together shall be deemed to constitute
one and the same instrument.

(REMAINDER OF PAGE INTENTIONALLY LEFT BLANK)

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	BORROWER:	 	 
	 
	 	 	 	 	 	 
	 	 	DICK’S SPORTING GOODS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Michael F. Hines
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Michael F. Hines	 	 
	 

	 	Title:
	 	 Executive Vice President and	 	 
	 

	 	 	 	Chief Financial Officer	 	 

5

 

	 	 	 	 	 	 	 
	 	 	AGENT:	 	 
	 
	 	 	 	 	 	 
	 	 	GENERAL ELECTRIC CAPITAL	 	 
	 	 	CORPORATION, as Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Joseph H. Burt
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	 Joseph H. Burt	 	 
	 

	 	Its:
	 	Duly Authorized Signatory	 	 
	 
	 	 	 	 	 	 
	 	 	LENDERS:	 	 
	 
	 	 	 	 	 	 
	 	 	GENERAL ELECTRIC CAPITAL	 	 
	 	 	CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Joseph H. Burt
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	 Joseph H. Burt	 	 
	 

	 	Its:
	 	Duly Authorized Signatory	 	 

6

 

	 	 	 	 	 	 	 
	 	 	PNC BANK, NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James M. Steffy
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James M. Steffy	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	FLEET RETAIL GROUP, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Andrew Cerusci
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Andrew Cerusci	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	NATIONAL CITY BUSINESS CREDIT, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Joseph L. Kwasny
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Joseph L. Kwasny	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Anthony D. Braxton
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Anthony D. Braxton	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	CITIZEN’S BANK OF PENNSYLVANIA	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Don Cmar
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Don Cmar	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	JP MORGAN CHASE BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James L. Sloan
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James L. Sloan	 	 
	 

	 	Title:
	 	Vice President	 	 

7

 

Each of the undersigned Guarantors hereby (i) acknowledges each of the amendments to the Credit
Agreement effected by this Amendment and (ii) confirms and agrees that its obligations under its
Guaranty shall continue without any diminution thereof and shall remain in full force and effect on
and after the effectiveness of this Amendment.

ACKNOWLEDGED, CONSENTED and

AGREED to as of the date first written

above.

	 	 	 	 	 
	AMERICAN SPORTS LICENSING, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Michael F. Hines
	 	 
	 

	 	 	 	 
	Name:

	 	Michael F. Hines	 	 
	Title:

	 	President	 	 
	 
	 	 	 	 
	DSG OF VIRGINIA, LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ Michael F. Hines
	 	 
	 

	 	 	 	 
	Name:

	 	Michael F. Hines	 	 
	Title:

	 	President	 	 
	 
	 	 	 	 
	GALYAN’S TRADING COMPANY, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Michael F. Hines
	 	 
	 

	 	 	 	 
	Name:

	 	Michael F. Hines	 	 
	Title:

	 	Secretary	 	 
	 
	 	 	 	 
	GALYAN’S NEVADA, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Michael F. Hines
	 	 
	 

	 	 	 	 
	Name:

	 	Michael F. Hines	 	 
	Title:

	 	Secretary	 	 
	 
	 	 	 	 
	GALYAN’S OF VIRGINIA, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Michael F. Hines
	 	 
	 

	 	 	 	 
	Name:

	 	Michael F. Hines	 	 
	Title:

	 	Secretary	 	 

8

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