Document:

Form of Restricted Stock Award

 EXHIBIT 10.17 
  
 For Awards Made After December 12, 2005 
 to Plan Participants other than the CEO or CFO 
  
 COINSTAR, INC. 
  
 NOTICE OF RESTRICTED STOCK AWARD 
 1997 AMENDED AND RESTATED EQUITY INCENTIVE PLAN 
  

	Date:	                         ,
200   

  

	To:	                            

  
 You have been granted an award of restricted
stock (the “Restricted Stock Award”) by Coinstar, Inc. (the “Company”). This Restricted Stock Award is subject to the terms of the enclosed Restricted Stock Award Agreement and the Company’s 1997
Amended and Restated Equity Incentive Plan (the “Plan”). Except as expressly provided otherwise in the Restricted Stock Award Agreement, the Restricted Stock Award is limited by and subject to the express terms and conditions
of the Plan. Defined terms in the Plan shall have the same meaning in this Notice of Restricted Stock Award, except where the context otherwise requires. By accepting this Restricted Stock Award, you accept it subject to the terms of this Notice of
Restricted Stock Award and the enclosed Restricted Stock Award Agreement. 
  
 The basic terms of the Restricted Stock Award are summarized as follows: 
  
 1. Number of Shares:                      
  
 2. Grant Date:
                         
  
 3. Fair Market Value Per Share (Informational, for tax purposes):              
  
 4. Vesting 
  
 The Restricted Stock Award is subject to forfeiture upon varying circumstances relating to your termination of employment
with the Company. The restrictions on the shares will lapse and the shares will no longer be subject to forfeiture according to the following schedule: 
  

			
	 Date on Which Portion of
 Restricted Stock Award Is No
 Longer Subject to Forfeiture

	 	 Portion of Restricted
 Stock Award No Longer
 Subject to Forfeiture

	_________________	 	_________________
	_________________	 	_________________
	_________________	 	_________________

 COINSTAR, INC. 
  
 RESTRICTED STOCK AWARD AGREEMENT 
  
 Pursuant to your Notice of Restricted Stock Award, (the “Grant Notice”) the Company has awarded you
an award of restricted stock (the “Restricted Stock Award”) under its 1997 Amended and Restated Equity Incentive Plan (the “Plan”) for the number of shares of the Company’s Common Stock indicated
in your Grant Notice. The Grant Notice, the Plan and this Restricted Stock Award Agreement (this “Agreement”) govern the terms of the award. Capitalized terms not explicitly defined in this Agreement but defined in the Plan
shall have the same definitions as in the Plan. 
  
 1. Vesting 

 
 Shares that have vested and are no longer subject to forfeiture according
to the vesting schedule set forth in the Grant Notice are referred to herein as “Vested Shares.” Shares that are not vested and remain subject to forfeiture under the preceding schedule are referred to herein as
“Unvested Shares.” The Unvested Shares will vest (and to the extent so vested cease to be Unvested Shares remaining subject to forfeiture) in accordance with the vesting schedule set forth in the Grant Notice. Collectively,
the Unvested Shares and the Vested Shares are referred to herein as the “Shares.” 
  
 2. Transfer Restrictions 
  
 Any sale, transfer, assignment, encumbrance, pledge, hypothecation, conveyance in trust, gift, transfer by bequest, devise or descent, or other transfer or disposition of any kind, whether voluntary or by operation of law, directly or
indirectly, of Unvested Shares shall be strictly prohibited and void, except by will or the laws of descent and distribution. 
  
 3. Status of Participant 
  
 You will be recorded as a stockholder of the Company with respect to the Shares. 
  
 4. Securities Law Compliance 
  
 4.1 You represent and warrant that you (a) have been furnished with all information which you deem necessary to evaluate the merits and risks
of receipt of the Shares, (b) have had the opportunity to ask questions and receive answers concerning the information received about the Shares and the Company, and (c) have been given the opportunity to obtain any additional information
you deem necessary to verify the accuracy of any information obtained concerning the Shares and the Company. 
  
 4.2 You hereby agree that you will in no event sell or distribute all or any part of the Shares unless (a) there is an effective registration
statement under the Securities Act of 1933, as amended (the “Securities Act”) and applicable state securities laws covering any 

 
such transaction involving the Shares or (b) the Company receives an opinion of your legal counsel (concurred in by legal counsel for the Company)
stating that such transaction is exempt from registration or the Company otherwise satisfies itself that such transaction is exempt from registration. You understand that the Company has no obligation to you to register the Shares with the
Securities and Exchange Commission and has not represented to you that it will so register the Shares. 
  
 4.3 You confirm that you have been advised, prior to your receipt of the Shares, that neither the offering of the Shares nor any offering materials
have been reviewed by any administrator under the Securities Act or any other applicable securities act. 
  
 4.4 You hereby agree to indemnify the Company and hold it harmless from and against any loss, claim or liability, including attorneys’ fees or
legal expenses, incurred by the Company as a result of any breach by you of, or any inaccuracy in, any representation, warranty or statement made by you in this Agreement or the breach by you of any terms or conditions of this Agreement. 

 
 5. Termination of Employment; Company Transaction 
  
 5.1 Termination of Employment 
  
 Except as provided in Section 5.2 below, in the event your Continuous
Status as an Employee, Director or Consultant terminates for any reason, including without limitation, your voluntary termination, termination by the Company, or the occurrence of your death, disability or retirement, the Unvested Shares shall be
forfeited by you without payment of any further consideration to you. 
  
 5.2 Company Transaction 
  
 In the event of a
merger, reorganization or sale of substantially all of the assets of the Company (a “Company Transaction”), then to the extent permitted by applicable law (i) any surviving corporation or a parent of such surviving corporation shall
assume any vested or unvested Shares outstanding under the Plan or shall substitute similar Shares for those outstanding under the Plan, or (ii) such Shares shall continue in full force and effect. Any Shares that are assumed or replaced in
connection with such a Company Transaction shall automatically become fully vested with respect to 50% of the unvested portion of the Shares (the forfeiture or repurchase provisions to which such Unvested Shares may be subject shall lapse to the
same extent) in the event that your employment or service relationship with the successor company should terminate (i) in connection with the Company Transaction or (ii) subsequently within one year following such Company Transaction,
unless such employment or service relationship is terminated by the successor company for Cause or by you voluntarily without Good Reason. In the event any surviving corporation or its parent refuses to assume or continue such Shares, or to
substitute similar Shares for those outstanding under the Plan, then, with respect to Shares held by you if then performing services as Employee, Director or Consultant the vesting of such Unvested Shares shall be accelerated so that the
restrictions on the Shares will lapse and the Shares will no longer be subject to forfeiture. 
  

 -2- 

 “Good Reason” means the occurrence of any of the following events or conditions and the
failure of the successor company to cure such event or condition within 30 days after receipt of written notice from you: 
  
 (a) a change in your status, position or responsibilities (including reporting responsibilities) that, in your reasonable judgment, represents a substantial reduction in
your status, position or responsibilities as in effect immediately prior thereto; the assignment to you of any duties or responsibilities that, in your reasonable judgment, are materially inconsistent with such status, title, position or
responsibilities; or any removal from or failure to reappoint or reelect you to any of such positions, except in connection with the termination of your employment for Cause, as a result of you disability or death, or by you other than for Good
Reason; 
  
 (b) a reduction in your annual base salary; 
  
 (c) the successor company’s requiring you (without your consent) to be based at any
place outside a 50-mile radius of your place of employment prior to a Company Transaction, except for reasonably required travel on the successor company’s business that is not materially greater than such travel requirements prior to the
Company Transaction; 
  
 (d) the successor company’s failure to
(i) continue in effect any material compensation or benefit plan (or the substantial equivalent thereof) in which you were participating at the time of a Company Transaction, including, but not limited to, the Plan, or (ii) provide you
with compensation and benefits substantially equivalent (in terms of benefit levels and/or reward opportunities) to those provided for under each material employee benefit plan, program and practice as in effect immediately prior to the Company
Transaction; 
  
 (e) any material breach by the successor company of its
obligations to you under the Plan or any substantially equivalent plan of the successor company; or 
  
 (f) any purported termination of your employment or service relationship for Cause by the successor company that is not in accordance with the definition of Cause under the Plan. 
  
 “Cause,” unless otherwise defined in an employment or
services agreement between the Company and you, means dishonesty, fraud, misconduct, unauthorized use or disclosure of confidential information or trade secrets, or conviction or confession of a crime punishable by law (except minor violations), in
each case as determined by the Plan Administrator, and its determination shall be conclusive and binding. 
  
 6. Section 83(b) Election for Restricted Stock Award; Independent Tax Advice 
  
 You understand that under Section 83(a) of the Internal Revenue Code of 1986 (the “Code”), the fair market value of the
Unvested Shares on the date the forfeiture restrictions lapse will be taxed, on the date such forfeiture restrictions lapse, as ordinary income subject to payroll and withholding tax and tax reporting, as applicable. For this purpose, the term
“forfeiture restrictions” means the right of the Company to receive back any Unvested Shares 

  

 -3- 

 
upon termination of your employment with the Company. You understand that you may elect under Section 83(b) of the Code to be taxed at ordinary income
rates on the fair market value of the Unvested Shares at the time they are acquired, rather than when and as the Unvested Shares cease to be subject to the forfeiture restrictions. Such election (an “83(b) Election”) must be
filed with the Internal Revenue Service within 30 days from the grant date of the Restricted Stock Award. 
  
 You understand that there are significant risks associated with the decision to make and 83(b) Election. If you make an 83(b) Election and the Unvested
Shares are subsequently forfeited to the Company, you will not be entitled to a deduction for any ordinary income previously recognized as a result of the 83(b) Election. If you make an 83(b) Election and the value of the Unvested Shares
subsequently declines, the 83(b) Election may cause you to recognize more compensation income than you would have otherwise recognized. On the other hand, if the value of the Unvested Shares increases and you have not made an 83(b) Election, you may
recognize more compensation income than you would have if you had made the election. 
  
 THE FORM FOR MAKING AN 83(b) ELECTION IS ATTACHED TO THIS AGREEMENT AS EXHIBIT B. YOU UNDERSTAND THAT, IF YOU DECIDE TO MAKE AN 83(b) ELECTION, IT IS YOUR RESPONSIBILITY TO FILE SUCH AN ELECTION WITH THE INTERNAL
REVENUE SERVICE AND THAT FAILURE TO FILE SUCH AN ELECTION WITHIN THE 30-DAY PERIOD MAY RESULT IN THE RECOGNITION OF ORDINARY INCOME BY YOU AS THE FORFEITURE RESTRICTIONS LAPSE. You further understand that an additional copy of such election
form should be filed with your federal income tax return for the calendar year in which the date of this Agreement falls. You acknowledge that the foregoing is only a summary of the federal income tax laws that apply to the award of the Shares under
this Agreement and does not purport to be complete. YOU FURTHER ACKNOWLEDGE THAT THE COMPANY HAS DIRECTED YOU TO SEEK INDEPENDENT ADVICE REGARDING THE APPLICABLE PROVISIONS OF THE CODE AND THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE OR FOREIGN
COUNTRY IN WHICH YOU MAY RESIDE. 
  
 You agree to execute and
deliver to the Company with this Agreement a copy of the Acknowledgment and Statement of Decision Regarding Section 83(b) Election (the “Acknowledgment”) attached hereto as Exhibit A. You further agree that
if you choose to make an 83(b) Election with the Internal Revenue Service, you will also deliver to the Company with this signed Agreement a signed copy of the 83(b) Election. 
  
 You acknowledge that determining the actual tax consequences to you of receiving or disposing of the Shares may be
complicated. These tax consequences will depend, in part, on your specific situation and may also depend on the resolution of currently uncertain tax law and other variables not within the control of the Company. You are aware that you should
consult a competent and independent tax advisor for a full understanding of the specific tax consequences to you of receiving or disposing of the Shares. Prior to executing this Agreement, you either have consulted with a competent tax advisor
independent of the Company to obtain tax advice concerning the Shares in light of your specific situation or have had the opportunity to consult with such a tax advisor but have chosen not to do so. 
  

 -4- 

 7. Book Entry Registration of the Shares 
  
 The Company will issue the Shares by registering the Shares in book entry form with the Company’s transfer agent in
your name and the applicable restrictions will be noted in the records of the Company’s transfer agent and in the book entry system. No certificate(s) representing all or a part of the Shares will be issued until the Shares become Vested
Shares. 
  
 8. Stop-Transfer Notices 
  
 You understand and agree that, in order to ensure compliance with the
restrictions referred to in this Agreement, the Company may issue appropriate “stop-transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same
effect in its own records. The Company will not be required to (a) transfer on its books any Shares that have been sold or transferred in violation of the provisions of this Agreement or (b) treat as the owner of the Shares, or otherwise
accord voting, dividend or liquidation rights to, any transferee to whom the Shares have been transferred in contravention of this Agreement. 
  
 9. Tax Withholding 
  
 As a condition to the removal of restrictions from your Vested Shares registered in book entry form with the Company’s transfer agent, you agree to
make arrangements satisfactory to the Company for the payment of any federal, state, local or foreign withholding tax obligations that arise either upon receipt of the Shares or as the forfeiture restrictions on any Shares lapse. You may satisfy
such withholding obligation by any of the following means or a combination thereof: (a) tendering a cash payment, (b) authorizing the Company to withhold shares from the shares of Common Stock otherwise issuable pursuant to the Restricted
Stock Award (up to the employer’s minimum tax withholding rate) or (c) delivering to the Company already owned and unencumbered shares of Common Stock (up to the employer’s minimum required tax withholding rate to the extent the
shares have been held for less than six months). Notwithstanding the previous sentence, you acknowledge and agree that the Company and any Affiliate has the right to deduct from payments of any kind otherwise due to you any federal, state, local or
foreign taxes of any kind required by law to be withheld with respect to the Restricted Stock Award. 
  
 10. General Provisions 
  
 10.1 Notices 
  
 Whenever any notice is required
or permitted hereunder, such notice must be in writing and personally delivered or sent by mail. Any notice required or permitted to be delivered hereunder shall be deemed to be delivered on the date on which it is personally delivered, or, whether
actually received or not, on the third business day after it is deposited in the United States mail, certified or registered, postage prepaid, addressed to the person 

  

 -5- 

 
who is to receive it at the address that such person has theretofore specified by written notice delivered in accordance herewith. The Company or Participant
may change, by written notice to the other, the address previously specified for receiving notices. Notices delivered to the Company shall be addressed as follows: 
  

			
	Company:	  	 Coinstar, Inc.

	 	  	 Attn: General Counsel

	 	  	 1800 114th Avenue
SE

	 	  	 Bellevue, WA 98004

  
 10.2 No Waiver

  
 No waiver of any provision of this Agreement will be
valid unless in writing and signed by the person against whom such waiver is sought to be enforced, nor will failure to enforce any right hereunder constitute a continuing waiver of the same or a waiver of any other right hereunder. 
  
 10.3 Undertaking 
  
 You hereby agree to take whatever additional action and execute whatever
additional documents the Company may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either you or the Shares pursuant to the express provisions of this Agreement. 
  
 10.4 Entire Contract 
  
 This Agreement, the Grant Notice and the Plan constitute the entire contract
between the parties hereto with regard to the subject matter hereof and supersede all prior oral or written agreements on the subject. This Agreement is made pursuant to the provisions of the Plan and will in all respects be construed in conformity
with the express terms and provisions of the Plan. 
  
 10.5
Successors and Assigns 
  
 The provisions of this Agreement
will inure to the benefit of, and be binding on, the Company and its successors and assigns and you and your legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person will have
become a party to this Agreement and agreed in writing to join herein and be bound by the terms and conditions hereof. 
  
 10.6 Counterparts 
  
 This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but which, upon execution, will constitute one and
the same instrument. 
  

 -6- 

 10.7 Governing Law 
  
 The provisions of the Grant Notice and this Agreement shall be governed by the laws of the state of Washington, without
giving effect to principles of conflicts of law. 
  
 11. Section 409A.

  
 Awards under the Plan are intended either to be exempt
from the rules of Section 409A or to satisfy those rules, and shall be construed accordingly. 
  

 -7- 

 IN WITNESS WHEREOF, the parties have executed this Agreement dated as of
                    , 200  . 
  

			
	COINSTAR, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[NAME OF RECIPIENT]
	
	  

	Recipient’s Signature

  

 -8- 

 EXHIBIT A 
  
 ACKNOWLEDGMENT AND STATEMENT OF DECISION REGARDING SECTION 83(b) ELECTION 
  
 The undersigned, a recipient of
             shares of common stock of Coinstar, Inc., a Delaware corporation (the “Company”), pursuant to a restricted stock award granted under the Company’s 1997
Amended and Restated Equity Incentive Plan (the “Plan”), hereby states as follows: 
  
 1. The undersigned acknowledges receipt of a copy of the Restricted Stock Award Agreement and the Plan relating to the offering of such shares. The
undersigned has carefully reviewed the Plan and the Restricted Stock Award Agreement pursuant to which the award was granted. 
  
 2. The undersigned either (check and complete as applicable) 
  
 (a)          has consulted, and has been fully advised by,
the undersigned’s own tax advisor,                                 , whose
business address is                                 , regarding the federal, state
and local tax consequences of receiving shares under the Plan, and particularly regarding the advisability of making an election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”),
and pursuant to the corresponding provisions, if any, of applicable state law, or 
  
 (b)          has knowingly chosen not to consult such a tax advisor. 
  
 3. The undersigned hereby states that the undersigned has decided (check
as applicable) 
  
 (a)
         to make an election pursuant to Section 83(b) of the Code, and is submitting to the Company, together with the undersigned’s executed Restricted Stock Award Agreement, an executed
form entitled “Election Under Section 83(b) of the Internal Revenue Code of 1986”, or 
  
 (b)          not to make an election pursuant to Section 83(b) of the Code.

  
 4. Neither the Company nor any subsidiary or representative of
the Company has made any warranty or representation to the undersigned with respect to the tax consequences of the undersigned’s acquisition of shares under the Plan or of the making or failure to make an election pursuant to Section 83(b)
of the Code or the corresponding provisions, if any, of applicable state law. 
  

					
	Dated:	 	  

	 	  

	 	 	 	 	Recipient
			
	 	 	 	 	  

	 	 	 	 	Print Name

 EXHIBIT B 
  
 ELECTION UNDER SECTION 83(b) 
 OF THE INTERNAL REVENUE CODE OF 1986 
  
 The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code, to include in taxpayer’s gross income for the current taxable year the amount of any compensation taxable to
taxpayer in connection with taxpayer’s receipt of the property described below: 
  

	1.	The name, address, taxpayer identification number and taxable year of the undersigned are as follows: 

  
 NAME OF TAXPAYER:
                                 
  
 ADDRESS: ____________________ 
                     ____________________

  
 IDENTIFICATION NO. OF TAXPAYER:
                     
  
 TAXABLE YEAR:          
  

	2.	The property with respect to which the election is made is described as follows: 

  
                      shares of the Common Stock of Coinstar, Inc., a Delaware corporation (the “Company”).

  

	3.	The date on which the property was transferred is:
                             

  

	4.	The property is subject to the following restrictions: 

  
 The property is subject to a forfeiture right pursuant to which the Company can reacquire the Shares if for any reason taxpayer’s services with the
Company are terminated. The Company’s right to receive back the shares lapses as follows:                         .

  

	5.	The aggregate fair market value at the time of transfer, determined without regard to any restriction other than a restriction which by its terms will never lapse, of such property
is: $             

  

	6.	The amount (if any) paid for such property is: $             

  
 The undersigned has submitted a copy of this statement to the person for whom
the services were performed in connection with the undersigned’s receipt of the above-described property. The undersigned is the person performing the services in connection with the transfer of said property. 
  
 The undersigned understands that the foregoing election may not be revoked
except with the consent of the Commissioner of Internal Revenue. 
  

					
	Dated:	 	  

	 	  

	 	 	 	 	Taxpayer

  

 B-2 

 DISTRIBUTION OF COPIES 
  

	1.	File original with the Internal Revenue Service Center where the taxpayer’s income tax return will be filed. Filing must be made by no later than 30 days after the date of
grant. 

  

	2.	Attach one copy to the taxpayer’s income tax return for the taxable year in which the property was transferred. 

  

	3.	Mail one copy to the Company at the following address: 

  
 Coinstar, Inc. 
 1800 114th Avenue SE 
 Bellevue, WA 98004Form of Stock Option Grant for Officers

 Exhibit 10.19 
  

			
	STOCK OPTION GRANT	  	 CALLAWAY GOLF COMPANY
 ID: 95-3797580
 2180 RUTHERFORD ROAD
 CARLSBAD, CA 92008

  

  
 PLAN: 2004 EQUITY INCENTIVE PLAN 
  

  
 1. Grant of Option. Effective
                     (“Effective Date”), you have been granted a Non-qualified Stock Option (“Option”) to buy shares of
Callaway Golf Company (the “Company”) common stock upon the following terms: 
  

							
	 SHARES

	 	 EXERCISE PRICE

	 	 SCHEDULED VESTING DATE

	  	SCHEDULED EXPIRATION DATE

	 	 	 	 	 	  	 
	 	 	 	 	 	  	 
	 	 	 	 	 	  	 
	 	 	 	 	 	  	 

  
 The Option is granted
to you pursuant to the terms and conditions of this Stock Option Grant (this “Agreement”), and the Company’s 2004 Equity Incentive Plan (as amended and restated from time to time, the “Plan”), the provisions of which Plan
are by this reference incorporated in this Agreement. In the event of any conflict between the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan shall be controlling. The Company has provided you with a copy of
the Plan and a Prospectus for the Plan. 
  
 The exercise price
must be paid in the form of cash, unless otherwise determined by the Board of Directors or Committee administering the plan (“Committee”) in their sole discretion. Upon exercise of the Option, you must pay in the form of a check or cash or
other cash equivalents to the Company any such additional amount as the Company determines that it is required to withhold under applicable laws in respect of such exercise. In this regard, you authorize the Company and/or its subsidiary to withhold
all applicable tax-related items legally payable by you from your wages or other cash compensation paid to you by the Company and/or its subsidiary or from proceeds of the sale of shares of Common Stock. Alternatively, or in addition, if permissible
under local law, the Company may (1) sell or arrange for the sale of shares of Common Stock that you acquire to meet the withholding obligation for tax-related items, and/or (2) withhold from the shares of Common Stock otherwise issuable
to you upon the exercise of the Option that number of shares having an aggregate Fair Market Value (as defined in the Plan), determined as of the date the withholding tax obligation arises, equal to the amount of the total withholding tax
obligation; provided, however, that, the number of shares so withheld shall not have an aggregate Fair Market Value in excess of the minimum required withholding. You acknowledge that the ultimate liability for all tax-related items legally due by
you is and remains your responsibility and that Company and/or its subsidiary (a) makes no representations or undertakings regarding the treatment of any tax-related items in connection with any aspect of the option grant, including the grant,
vesting or exercise of the option, the subsequent sale of shares of Common Stock acquired pursuant to such exercise and the receipt of any dividends; and (b) do not commit to structure the terms of the grant or any aspect of the option to
reduce or eliminate your liability for tax-related items. 
  
 2. Vesting. Subject to Section 3 (Term and Termination) and Section 4 (Cancellation, Forfeiture and Rescission) of this Agreement, and subject to the accelerated vesting provisions, if any, set forth in
any employment agreement between you and the Company or its subsidiary, as the same may be amended, modified, extended or renewed from time to time, the Option shall vest in accordance with the vesting schedule set forth above. The Committee may in
its discretion accelerate the vesting schedule (in which case it may impose whatever conditions it considers appropriate on the accelerated portion). In addition, the entire Option shall vest and become exercisable immediately prior to any Change in
Control, if you are an employee or consultant of the Company or its subsidiary at that time, provided, however, that the Board of Directors, or appropriate committee thereof, in its sole discretion, may provide that such Option does not vest and
become exercisable immediately prior to any such Change in Control, and instead provide that the Option shall be assumed or that an equivalent option or right shall be substituted by a 

 
successor company, in which case the amount and price of such assumed or substituted option shall be determined by adjusting the amount and price of the
Option consistent with the terms of the transaction giving rise to the Change in Control. Notwithstanding the foregoing, if the Committee elects to provide that the Option does not vest in connection with a Change in Control and your employment is
terminated for any reason within one year following such Change in Control, then the entire assumed or substituted option shall vest and become exercisable immediately upon such termination of employment. For purposes hereof, “Change in
Control” shall have the meaning set forth in Exhibit A attached hereto. 
  
 3. Term and Termination. Subject to Section 4 (Cancellation, Forfeiture and Rescission) hereof, the Option shall expire on the earlier of (i) the scheduled expiration date set forth
above or (ii) in the case of an Option that has vested, one (1) year from the date on which you cease to be an employee or consultant of the Company or its subsidiary for any reason including death. Subject to Section 2
(Vesting), if you cease for any reason to be an employee of the Company or its subsidiary, that portion of the Option which has not yet vested shall be terminated. 
  
 4. Cancellation, Forfeiture and Rescission. 
  
 (a) If during your employment or during any period thereafter that you are receiving Special Severance from
the Company, you directly or indirectly disclose or misuse any confidential information or trade secrets of the Company then: 
  
 (1) any unexercised portion of the Option is automatically cancelled as of the date you first committed the act or acts described above
(the “Cancellation Date”); and 
  
 (2)
any exercise of all or any portion of the Option exercised on or after the Cancellation Date or during the “Look-Back Period” preceding the Cancellation Date shall be rescinded, and you shall be required to pay to the Company, within ten
days of receiving written notice from the Company, the amount of any gain realized as the result of any such rescinded exercise (the “Option Gain”). 
  

The Company shall notify you in writing of any such rescission within two years of any such exercise. If you are still an employee on the Cancellation Date, the
“Look-Back Period” is ninety days. If you are no longer an employee on the Cancellation Date, the “Look-Back Period” is the longer of ninety days or the number of days elapsed from the date of termination of your employment to
the Cancellation Date. For purposes of this Agreement, an “indirect” use of the Company’s confidential information or trade secrets shall be presumed to have occurred if you take a comparable position with a competitor in which case
you shall have the burden of proving that no use or disclosure of confidential information or trade secrets occurred or will occur. For purposes of this Agreement, and in the absence of proof of actual gain on the date of exercise, “Option
Gain” shall mean the New York Stock Exchange closing price on the date of exercise minus the exercise price of the Option, multiplied by the number of shares you purchased upon the exercise, without regard to any subsequent market price
decrease or increase. 
  
 (b) In lieu of paying
to the Company any Option Gain required to be paid to Company pursuant to this Section 4, you may return to the Company the number of shares purchased upon exercise of the Option. You hereby agree that the Company may set off against any
amount the Company may now or hereafter owe you the amount of any Option Gain required to be paid by you to Company under this Section 4. This Section 4 does not limit any other legal or equitable remedy available to the
Company. As a condition of each exercise of all or any portion of the Option, you will be required to certify to the Company on a form of notice of exercise acceptable to the Company that you have not committed any of the acts described in paragraph
(a) above. 
  
 You acknowledge that you have read each provision of this
Section 4 and have had an opportunity to ask questions with respect to this Section. You acknowledge that you understand that the Company is granting the Option subject to the terms of this Section 4. 
  
                      (Optionee) 
  

5. Severability. The provisions of this Agreement shall be deemed to be severable and the invalidity or unenforceability of any provision
shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application thereof to any person or any circumstance, is held to be invalid or unenforceable under present or future laws
effective during the term of this Agreement, such provision shall be fully severed, and in lieu thereof there shall automatically be added as part of this Agreement a suitable and equitable provision in order to carry out, so far as may be valid and
enforceable, the intent and purpose of such invalid or unenforceable provision. 
  

 2 

 6. Governing Law. This Agreement shall be governed by and construed in accordance
with the internal laws of the State of Delaware and applicable federal law. 
  
 7. Irrevocable Arbitration of Disputes. 
  
 (a) You and the Company agree that any dispute, controversy or claim arising hereunder or in any way related to this Agreement, its
interpretation, enforceability, or applicability, that cannot be resolved by mutual agreement of the parties shall be submitted to binding arbitration. The parties agree that arbitration is the parties’ only recourse for such claims and hereby
waive the right to pursue such claims in any other forum, unless otherwise provided by law. Any court action involving a dispute which is not subject to arbitration shall be stayed pending arbitration of arbitrable disputes. 
  
 (b) You and the Company agree that the arbitrator shall
have the authority to issue provisional relief. You and the Company further agree that each has the right, pursuant to California Code of Civil Procedure section 1281.8, to apply to a court for a provisional remedy in connection with an arbitrable
dispute so as to prevent the arbitration from being rendered ineffective. 
  
 (c) Any demand for arbitration shall be in writing and must be communicated to the other party prior to the expiration of the applicable statute of limitations. 
  
 (d) The arbitration shall be administered by JAMS
pursuant to its Employment Arbitration Rules and Procedures. The arbitration shall be conducted in San Diego by a former or retired judge or attorney with at least 10 years experience in employment-related disputes, or a non-attorney with like
experience in the area of dispute, who shall have the power to hear motions, control discovery, conduct hearings and otherwise do all that is necessary to resolve the matter. The parties must mutually agree on the arbitrator. If the parties cannot
agree on the arbitrator after their best efforts, an arbitrator will be selected from JAMS pursuant to its Employment Arbitration Rules and Procedures. The Company shall pay the costs of the arbitrator’s fees. 
  
 (e) The arbitration will be decided upon a written
decision of the arbitrator stating the essential findings and conclusions upon which the award is based. The arbitrator shall have the authority to award damages, if any, to the extent that they are available under applicable law(s). The arbitration
award shall be final and binding, and may be entered as a judgment in any court having competent jurisdiction. Either party may seek review pursuant to California Code of Civil Procedure section 1286, et seq. 
  
 (f) It is expressly understood that the parties have
chosen arbitration to avoid the burdens, costs and publicity of a court proceeding, and the arbitrator is expected to handle all aspects of the matter, including discovery and any hearings, in such a way as to minimize the expense, time, burden and
publicity of the process, while assuring a fair and just result. In particular, the parties expect that the arbitrator will limit discovery by controlling the amount of discovery that may be taken (e.g., the number of depositions or interrogatories)
and by restricting the scope of discovery only to those matters clearly relevant to the dispute. However, at a minimum, each party will be entitled to at least one (1) deposition and shall have access to essential documents and witnesses as
determined by the arbitrator. 
  
 (g) The
provisions of this Section shall survive the expiration or termination of the Agreement, and shall be binding upon the parties. 
  
 THE PARTIES HAVE READ SECTION 7 AND IRREVOCABLY AGREE TO ARBITRATE ANY DISPUTE IDENTIFIED ABOVE. 
  

			
	                     
(Company)
	 	                     
(Employee)

  
 IN WITNESS WHEREOF,
the undersigned have executed this Agreement as of the Effective Date. 
  

									
	CALLAWAY GOLF COMPANY	 	 	 	 
					
	 By:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  

 3 

 EXHIBIT A 
  

A “Change in Control” means the following and shall be deemed to occur if any of the following events occurs: 
  
 (a) Any person, entity or group, within the meaning of
Section 13(d) or 14(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) but excluding the Company and its subsidiaries and any employee benefit or stock ownership plan of the Company or its subsidiaries and also excluding
an underwriter or underwriting syndicate that has acquired the Company’s securities solely in connection with a public offering thereof (such person, entity or group being referred to herein as a “Person”) becomes the beneficial owner
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of either the then outstanding shares of Common Stock or the combined voting power of the Company’s then outstanding securities entitled to vote generally in
the election of directors; or 
  
 (b) Individuals
who, as of the effective date hereof, constitute the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors of the Company, provided that any individual
who becomes a director after the effective date hereof whose election, or nomination for election by the Company’s shareholders, is approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be
considered to be a member of the Incumbent Board unless that individual was nominated or elected by any Person having the power to exercise, through beneficial ownership, voting agreement and/or proxy, 20% or more of either the 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, in which case that individual shall not be considered to be a member of the Incumbent Board
unless such individual’s election or nomination for election by the Company’s shareholders is approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board; or 
  
 (c) Consummation by the Company of the sale, lease, exchange
or other disposition (in one transaction or a series of related transactions) by the Company of all or substantially all of the Company’s assets or a reorganization or merger or consolidation of the Company with any other person, entity or
corporation, other than 
  
 (i) a reorganization
or merger or consolidation that would result in the voting securities of the Company outstanding immediately prior thereto (or, in the case of a reorganization or merger or consolidation that is preceded or accomplished by an acquisition or series
of related acquisitions by any Person, by tender or exchange offer or otherwise, of voting securities representing 5% or more of the combined voting power of all securities of the Company, immediately prior to such acquisition or the first
acquisition in such series of acquisitions) continuing to represent, either by remaining outstanding or by being converted into voting securities of another entity, more than 50% of the combined voting power of the voting securities of the Company
or such other entity outstanding immediately after such reorganization or merger or consolidation (or series of related transactions involving such a reorganization or merger or consolidation), or 
  
 (ii) a reorganization or merger or consolidation effected to
implement a recapitalization or reincorporation of the Company (or similar transaction) that does not result in a material change in beneficial ownership of the voting securities of the Company or its successor; or 
  
 (d) Approval by the shareholders of the Company or an order
by a court of competent jurisdiction of a plan of complete liquidation or dissolution of the Company. 
  

 4

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