Document:

EX-10.1

Exhibit 10.1

GOLFSMITH INTERNATIONAL HOLDINGS, INC.

NON-EMPLOYEE DIRECTOR COMPENSATION PLAN

Annual Retainers

The Company shall pay each non-employee board member the following annual retainer(s) based upon
his or her service. All payments hereunder shall be made in equal quarterly amounts.

	 	 	 	 	 
	Director
	 	$	25,000	 
	Audit Committee Chairperson
	 	$	15,000	 
	Compensation Committee Chairperson
	 	$	5,000	 
	Nominating Committee Chairperson
	 	$	5,000	 

Meeting Attendance Fees

	 	 	 	 	 
	Each Board of Directors meeting
	 	$	1,500	 
	Each committee meeting
	 	$	1,000	 

Deferred Stock Units

Annual DSU Grant: Directors shall, at the Annual Shareholder’s Meeting, be granted a number
of deferred stock units (“DSU”) worth the equivalent of US $25,000 at the then current stock
price. Such DSU’s will be payable and exercisable only upon termination from Board Service.

Fee Deferral: Directors may defer all or part of their cash fees into DSUs which will be
payable in Company shares to the Director only upon termination from Board Service.

Expense Reimbursement

Directors are reimbursed by the Company for their out-of-pocket travel and related expenses
incurred in attending all Board and committee meetings.

Fees Pro-rated Based Upon Annual Shareholder’s Meeting

Director nominations shall generally be completed at the Annual Shareholder’s Meeting (each, an
“ASM”). To the extent a director is nominated at a time other than the ASM, any DSU or Annual
Retainer will be prorated following the most recent applicable ASM.EX-10.2

Exhibit 10.2

Notice of Deferred Stock Unit Grant

	 	 	 
	Participant:

	 	[     ]
	 
	 	 
	Company:

	 	Golfsmith International Holdings, Inc.
	 
	 	 
	Notice:

	 	You have been granted the following Deferred Stock Unit in accordance with the terms of the Plan and

the Deferred Stock Unit Award Agreement attached hereto.
	 
	 	 
	Type of Award:

	 	Other Stock-Based Award in the form of a Deferred Stock Unit
	 
	 	 
	Plan:

	 	Golfsmith International Holdings, Inc. 2006 Incentive Compensation Plan
	 
	 	 
	Grant:

	 	Date of Grant:  [     ]

Number of Shares Underlying Deferred Stock Unit:  [     ]
	 
	 	 
	Exercisability:

	 	Your Deferred Stock Unit is immediately fully vested and nonforfeitable.
	 
	 	 
	Rejection:

	 	If you do not want to accept your Deferred Stock Unit, please return this Agreement, executed by you on

the last page of this Agreement, at any time within ninety (90) days after the Date of Grant to

Golfsmith International Holdings, Inc. 11000 N. IH-35, Austin, TX 78753. Do not return a signed copy of

this Agreement if you accept your Deferred Stock Unit. If you do not return a signed copy of this

Agreement within ninety (90) days after the Date of Grant, you will have accepted your Deferred Stock

Unit and agreed to the terms and conditions set forth in this Agreement and the terms and conditions of

the Plan.EX-10.3

Exhibit 10.3

Deferred Stock Unit Award Agreement

This Deferred Stock Unit Award Agreement (this “Agreement”) dated as of the Date of Grant
(the “Date of Grant”) set forth in the Notice of Deferred Stock Unit Grant attached as Schedule A
hereto (the “Grant Notice”) is made between Golfsmith International Holdings, Inc. (the “Company”)
and the Participant set forth in the Grant Notice. The Grant Notice is included in and made part
of this Agreement.

	 	1.	 	Definitions.

Capitalized terms used but not defined herein have the meaning set forth in the Golfsmith
International Holdings, Inc. 2006 Incentive Compensation Plan (the “Plan”).

	 	2.	 	Grant of the Deferred Stock Unit.

Subject to the provisions of this Agreement and the provisions of the Plan, the Company hereby
grants to the Participant, pursuant to the Plan, a right to receive the number of shares of common
stock of the Company, par value $0.001 per share (“Shares”) set forth in the Grant Notice (the
“Deferred Stock Unit”).

	 	3.	 	Delivery of Shares.

As soon as reasonably practicable following the date of the Participant’s Termination, the
Company shall cause to be delivered to the Participant the full number of Shares underlying the
Deferred Stock Unit, subject to satisfaction of any applicable tax withholding pursuant to Article
XVI of the Plan.

	 	4.	 	No Ownership Rights Prior to Issuance of Shares.

Neither the Participant nor any other person shall become the beneficial owner of the Shares
underlying the Deferred Stock Unit, nor have any rights to dividends or other rights as a
shareholder with respect to any such Shares, until and after such Shares have been actually issued
to the Participant and transferred on the books and records of the Company in accordance with the
terms of the Plan and this Agreement.

	 	5.	 	No Right to Continued Service.

Neither the Deferred Stock Unit nor any terms contained in this Agreement shall confer upon
the Participant any express or implied right to be retained in the service of the Company or any
Subsidiary or, any Affiliate for any period, nor restrict in any way the right of the Company or
any Subsidiary or any Affiliate, which right is hereby expressly reserved, to terminate the
Participant’s service at any time for any reason.

	 	6.	 	The Plan.

In consideration for this grant, the Participant agrees to comply with the terms of the Plan
and this Agreement. This Agreement is subject to all the terms, provisions and conditions of the
Plan, which are incorporated herein by reference, and to such regulations as may from time to time
be adopted by the Committee. In the event of any conflict between the provisions of the Plan and
this Agreement, the provisions of the Plan shall control, and this Agreement shall be deemed to be
modified accordingly. The Plan and the prospectus describing the Plan can be found on the
Company’s HR intranet. A paper copy of the Plan and the prospectus shall be provided to the
Participant upon the Participant’s written request to the Company at Golfsmith International
Holdings, Inc. 11000 N. IH-35, Austin, TX 78753.

	 	7.	 	Compliance with Laws and Regulations.

(a) The Deferred Stock Unit and the obligation of the Company to sell and deliver Shares
hereunder shall be subject in all respects to (i) all applicable Federal and state laws, rules and
regulations and (ii) any registration, qualification, approvals or other requirements imposed by
any government or regulatory agency or body which the Committee shall, in its discretion, determine
to be necessary or applicable. Moreover, the Company shall not deliver any certificates for Shares
to the Participant or any other person pursuant to this Agreement if doing so would be contrary to
applicable law. If at any time the Company determines, in its discretion, that the listing,
registration or qualification of Shares upon any national securities exchange or under any state or
Federal law, or the consent or approval of any governmental regulatory body, is necessary or
desirable, the Company shall not be required to deliver any certificates for Shares to the
Participant or any other person pursuant to this Agreement unless and until such listing,
registration, qualification, consent or approval has been effected or obtained, or otherwise
provided for, free of any conditions not acceptable to the Company.

(b) It is intended that the Shares received in respect of the Deferred Stock Unit shall have
been registered under the Securities Act. If the Participant is an “affiliate” of the Company, as
that term is defined in Rule 144 under the Securities Act (“Rule 144”), the Participant may not
sell the Shares received except in compliance with Rule 144. Certificates representing Shares
issued to an “affiliate” of the Company may bear a legend setting forth such restrictions on the
disposition or transfer of the Shares as the Company deems appropriate to comply with Federal and
state securities laws.

(c) If, at any time, the Shares are not registered under the Securities Act, and/or there is
no current prospectus in effect under the Securities Act with respect to the Shares, the
Participant shall execute, prior to the delivery of any Shares to the Participant by the Company
pursuant to this Agreement, an agreement (in such form as the Company may specify) in which the
Participant represents and warrants that the Participant is purchasing or acquiring the shares
acquired under this Agreement for the Participant’s own account, for investment only and not with a
view to the resale or distribution thereof, and represents and agrees that any subsequent offer for
sale or distribution of any kind of such Shares shall be made only pursuant to either (i) a
registration statement on an appropriate form under the Securities Act, which registration
statement has become effective and is current with regard to the Shares being offered or sold, or
(ii) a specific exemption from the registration requirements of the Securities Act, but in claiming
such exemption the Participant shall, prior to any offer for sale of such Shares, obtain a prior
favorable written opinion, in form and substance satisfactory to the Company, from counsel for or
approved by the Company, as to the applicability of such exemption thereto.

	 	8.	 	Notices.

All notices by the Participant or the Participant’s assignees shall be addressed to Golfsmith
International Holdings, Inc. 11000 N. IH-35, Austin, TX 78753, or such other address as the Company
may from time to time specify. All notices to the Participant shall be addressed to the
Participant at the Participant’s address in the Company’s records.

	 	9.	 	Other Plans.

The Participant acknowledges that any income derived from the Deferred Stock Unit shall not
affect the Participant’s participation in, or benefits under, any other benefit plan or other
contract or arrangement maintained by the Company or any Subsidiary or Affiliate.

GOLFSMITH INTERNATIONAL HOLDINGS, INC.

By:

Printed:

Its: Chairman, Compensation Committee

Golfsmith International Holdings, Inc. Board of Directors

I DO NOT accept this Deferred Stock Unit:

Signature:

Printed Name:

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