Document:

Exhibit 10.24

 Exhibit 10.24 
 UNDER ARMOUR, INC. 
 RESTRICTED STOCK OPTION AGREEMENT 

 UNDER ARMOUR, INC. 
 RESTRICTED STOCK AGREEMENT 
 Under Armour, Inc., a Maryland corporation (the “Company”),
hereby grants its shares of Class A Common Stock, $.0003 1/3 par value, (the “Common Stock”) to the Grantee named below, subject to the vesting conditions set forth in the attachment. Additional terms and conditions of the grant are
set forth in this cover sheet, in the attachment, and in the KP Sports, Inc. Stock Option Plan, as amended (the “Plan”). 
 Grant Date:                     , 2005 
 Vesting Start Date:
                    , 2005 
 Name of Grantee: 
 Grantee’s Social Security Number:
        -        -         
 Number of Shares of Common Stock Covered by Grant: 
 Purchase Price: $             (at least 100% of the fair market value on the
Grant Date) 
 By signing this cover sheet, you agree to all of the terms and conditions described in the attached Agreement and in the Plan, a copy of
which is also attached. You acknowledge that you have carefully reviewed the Plan, and agree that the Plan will control in the event any provision of this Agreement should appear to be inconsistent. 
  

					
	Grantee:	  	  
	  	
		  	(Signature)	  	
			
	Company:	  	  
	  	
		  	(Signature)	  	
			
	Title:	  	  
	  	

 This is not a stock certificate or a negotiable instrument. 
 Attachment 
  

 2 

 UNDER ARMOUR, INC. 
 RESTRICTED STOCK AGREEMENT 
  

			
	Restricted Stock/ Non-Transferability	  	This grant is an award of Common Stock in the number of shares set forth on the cover sheet, at the Purchase Price set forth on the cover sheet, and subject to the vesting conditions
described below (“Restricted Stock”). The Purchase Price for the Restricted Stock is deemed paid by your services to the Company. To the extent not yet vested, your Restricted Stock may not be transferred, assigned, pledged or
hypothecated, whether by operation of law or otherwise, nor may the Restricted Stock be made subject to execution, attachment or similar process.
		
	Issuance and Vesting	  	 The Company will issue your Restricted Stock in your name as of the Grant Date.
  
 Except as otherwise set forth below, your right to the Stock under this Restricted Stock Agreement
vests as to twenty percent (20%) of the total number of shares of Stock covered by this grant, as shown on the cover sheet, on August 18, 2005. Thereafter, provided you then continue in Service, you will vest in an additional twenty (20%) of
the total number of shares of Stock covered by this grant on each of the second, third, fourth and fifth anniversaries of the Vesting Start Date. The resulting aggregate number of vested shares of Stock will be rounded to the nearest whole number,
and you cannot vest in more than the number of shares covered by this grant.
  
 In the
event of a planned sale of all or substantially all of the assets of the Company, either through an asset or stock transaction (a “Change in Control”), the vesting schedule shall be accelerated and you will vest in an additional fifty
(50%) of the shares of Stock covered by this grant that are unvested immediately before the Change in Control.
  
 If a vesting date would otherwise occur during a period in which you are: (a) subject to a lock-up agreement restricting your ability to sell shares of Stock in the open market or (b) restricted from selling shares of
Stock in the open market because you are not then eligible to sell under the Company’s insider trading or similar plan as then in effect (whether because a trading window is not open or you are otherwise restricted from trading), the vesting
date will be delayed until the first date on which you are no longer prohibited from selling shares of Stock due to a lock-up agreement or insider trading plan restriction; provided, however, you shall not be deemed to be restricted pursuant to
subparagraph (b) above if you have in place at the vesting date an enforceable 10b5-1 trading

  

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		  	plan. You cannot vest in more than the number of shares covered by this grant. No shares will vest after your service has terminated for any reason.
		
	Forfeiture of Unvested Common Stock	  	In the event that your service terminates for any reason including due to death or Disability, you will forfeit to the Company all of the shares of Common Stock subject to this grant that have
not yet vested.
		
	Employment Confidentiality Agreement; Forfeiture	  	 As a condition to the grant of Restricted Stock pursuant to this Agreement, you have executed and become a party to the Employee Confidentiality,
Non-Competition, and Non-Solicitation Agreement by and between you and the Company (the “Confidentiality, Non-Competition and Non-Solicitation Agreement”) entered into by you in connection with the issuance of a stock option agreement
between you and the Corporation and attached hereto as Exhibit C.
  
 If you should
take any actions in violation of the Confidentiality, Non-Competition and Non-Solicitation Agreement, or in violation of any non-competition agreement entered into between you and the Company, it will be considered grounds for termination for cause,
and you will forfeit to the Company all of the shares of Common Stock subject to this grant that have not yet vested.

		
	Buy-Sell Agreement	  	As a condition to the grant of Restricted Stock pursuant to this Agreement, you’ll have executed and become a party to the Buy-Sell Agreement (the “Buy-Sell Agreement”), attached
hereto as Exhibit D and by reference made a part hereof.
		
	Book Entry Restrictions/Escrow	  	 The Restricted Stock may be issued in book entry form. If so, the Company shall cause the transfer agent for the shares of Common Stock to make a
book entry record showing ownership for the shares of Restricted Stock in your name subject to the terms and conditions of this Agreement. You shall be issued an account statement acknowledging your ownership of the shares of Restricted
Stock.
  
 If certificates are issued evidencing the shares of Restricted Stock, the
certificates for the Restricted Stock shall be deposited in escrow with the Secretary of the Company to be held in accordance with the provisions of this paragraph. Each deposited certificate shall be accompanied by a duly executed Assignment
Separate from Certificate in the form attached hereto as Exhibit A. The deposited certificates shall remain in escrow until such time or times as the certificates are to be released or otherwise surrendered for cancellation as discussed
below. Upon delivery of the certificates to the Company, you shall be issued an instrument of deposit acknowledging the number of shares of Stock delivered in escrow to the Secretary of the Company.

  

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		  	As your interest in the shares vests, as described above, the certificates for such vested shares shall be released from escrow and delivered to you, at your request, within 30 days of their
vesting.
		
	Withholding Taxes	  	In the event that the Company determines that any federal, state, local or foreign tax or withholding payment is required relating to the vesting of shares arising from this grant, the Company
shall have the right to require such payments from you, or withhold such amounts from other payments due to you from the Company or any affiliate.
		
	Section 83(b) Election	  	 Under Section 83 of the Internal Revenue Code of 1986, as amended (the “Code”), the difference between the purchase price paid for the
shares of Stock and their fair market value on the date any forfeiture restrictions applicable to such shares lapse will be reportable as ordinary income at that time. For this purpose, “forfeiture restrictions” includes forfeiture as to
unvested Stock described above. You may elect to be taxed at the time the shares are acquired, rather than when such shares cease to be subject to such forfeiture restrictions, by filing an election under Section 83(b) of the Code with the Internal
Revenue Service within thirty (30) days after the Grant Date. You will have to make a tax payment to the extent the purchase price is less than the fair market value of the shares on the Grant Date. No tax payment will have to be made to the extent
the purchase price is at least equal to the fair market value of the shares on the Grant Date. The form for making this election is attached as Exhibit B hereto. Failure to make this filing within the thirty (30) day period will result in the
recognition of ordinary income by you (in the event the fair market value of the shares as of the vesting date exceeds the purchase price) as the forfeiture restrictions lapse.
  
 YOU ACKNOWLEDGE THAT IT IS YOUR SOLE RESPONSIBILITY, AND NOT THAT OF THE COMPANY, TO FILE A TIMELY
ELECTION UNDER SECTION 83(b), EVEN IF YOU REQUEST THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON YOUR BEHALF. YOU ARE RELYING SOLELY ON YOUR OWN ADVISORS WITH RESPECT TO THE DECISION AS TO WHETHER OR NOT TO FILE ANY 83(b)
ELECTION.

		
	Retention Rights	  	This Agreement does not give you the right to be retained by the Company (or any parent, Subsidiaries or affiliates) in any capacity. The Company (and any parent, Subsidiaries or affiliates)
reserves the right to terminate your service at any time and for any reason.

  

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	Shareholder Rights	  	You have the right to vote the Restricted Stock and to receive any dividends declared or paid on such stock. Any distributions you receive as a result of any stock split, stock dividend,
combination of shares or other similar transaction shall be deemed to be a part of the Restricted Stock and subject to the same conditions and restrictions applicable thereto. Except as described in the Plan, no adjustments are made for dividends or
other rights if the applicable record date occurs before your stock certificate is issued.
		
	Adjustments	  	In the event of any stock dividend, stock split or other change in the corporate structure affecting the Common Stock, the number or kind of shares covered by this grant may be adjusted pursuant
to the Plan. Your Restricted Stock shall be subject to the terms of the agreement of merger, liquidation or reorganization in the event the Company is subject to such corporate activity.
		
	Legends	  	 All certificates representing the Common Stock issued in connection with this grant shall, where applicable, have endorsed thereon the following
legends:
  
 “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
RESTRICTIONS ON TRANSFER SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN
REQUEST TO THE SECRETARY OF THE COMPANY BY THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS CERTIFICATE.”
  
 In addition, all certificates representing the Common Stock issued in connection with this grant shall, where applicable, have endorsed thereon the legends required by the Buy-Sell Agreement.

		
	Applicable Law	  	This Agreement will be interpreted and enforced under the laws of the State of Maryland, other than any conflicts or choice of law rule or principle that might otherwise refer construction or
interpretation of this Agreement to the substantive law of another jurisdiction.
		
	Market Stand-Off	  	In connection with any underwritten public offering by the Company (the “Registrant”) of the Registrant’s securities pursuant to an effective registration statement filed under
the Securities Act of 1933 for such period as the underwriters may request (such period not to exceed 180 days following the date of the applicable offering), you shall not, directly or indirectly, sell, make any short

  

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		  	sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract for the sale of, loan, hypothecate, pledge,
offer, grant or dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to, any shares of capital stock of the Company covered by this grant without the prior written consent of the underwriters of such public
offering.
		
	The Plan	  	 The text of the Plan is incorporated in this Agreement by reference. Certain capitalized terms used in this Agreement are defined in the Plan, and
have the meaning set forth in the Plan.
  
 This Agreement and the Plan constitute the
entire understanding between you and the Company regarding this grant of Restricted Stock. Any prior agreements, commitments or negotiations concerning this grant are superseded.

		
	Data Privacy	  	 In order to administer the Plan, the Company may process personal data about you. Such data includes, but is not limited to, the information provided
in this Agreement and any changes thereto, other appropriate personal and financial data about you such as home address and business addresses and other contact information, payroll information and any other information that might be deemed
appropriate by the Company to facilitate the administration of the Plan.
  
 By accepting
this grant, you give explicit consent to the Company to process any such personal data. You also give explicit consent to the Company to transfer any such personal data outside the country in which you work or are employed, including, with respect
to non-U.S. resident Grantees, to the United States, to transferees who shall include the Company and other persons who are designated by the Company to administer the Plan.

		
	Consent to Electronic Delivery	  	The Company may choose to deliver certain statutory materials relating to the Plan in electronic form. By accepting this grant, you agree that the Company may deliver the Plan prospectus and the
Company’s annual report to you in an electronic format. If at any time you would prefer to receive paper copies of these documents, as you are entitled to, the Company would be pleased to provide copies. Please contact J. Scott Plank at
410-454-6441 to request paper copies of these documents.

 By signing the cover sheet of this Agreement, you agree to all of the terms and conditions
described above and in the Plan. 
  

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 EXHIBIT A 
 ASSIGNMENT SEPARATE FROM CERTIFICATE 
 FOR VALUE RECEIVED,
                     sells, assigns and transfers to Under Armour, Inc., a Maryland corporation (the “Company”),
                    
(                    ) shares of the Company’s Class A Common Stock represented by Certificate No.
         and does hereby irrevocably constitute and appoint                      to transfer
the said common stock on the books of the Company with full power of substitution in the premises. 
 Dated:                    , 200   
  

	
	     
 Print Name

	
	     
 Signature

 Spouse Consent (if applicable) 
                         
(Purchaser’s spouse) indicates by the execution of this Assignment his or her consent to be bound by the terms herein as to his or her interests, whether as community property or otherwise, if any, in the shares of class A common stock of the
Company. 

	
	
	     
 Signature

 INSTRUCTIONS: PLEASE DO NOT FILL IN ANY BLANKS OTHER THAN THE SIGNATURE LINE. THE PURPOSE OF THIS
ASSIGNMENT IS TO ENABLE THE COMPANY TO CAUSE THE FORFEITURE OF YOUR UNVESTED SHARES AS SET FORTH IN THE AGREEMENT WITHOUT REQUIRING ADDITIONAL SIGNATURES ON THE PART OF PURCHASER. 

 EXHIBIT B 
 ELECTION UNDER SECTION 83(b) OF 
 THE INTERNAL REVENUE CODE 
 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 social security number of the undersigned:

 Name:
                                        
                                        
                 
 Address:
                                        
                                        
             
                                       
                                        
                               
 Social Security No. :
                                        
                                 
 2. Description of property with respect to which the election is being made: 
              shares of common stock, par value $.0003 1/3 per share, Under Armour, Inc., a Maryland corporation, (the “Company”).

 3. The date on which the property was transferred is
                    , 2005. 
 4. The taxable year
to which this election relates is calendar year 2005. 
 5. Nature of restrictions to which the property is subject: 
 The shares of stock are subject to the provisions of a Restricted Stock Agreement between the undersigned and the Company. The shares of stock are subject
to forfeiture under the terms of the Agreement. 
 6. The fair market value of the property at the time of transfer (determined without regard to any lapse
restriction) was $                     per share, for a total of
$                    . 
 7. The amount paid by
taxpayer for the property was $0.00. 
 8. A copy of this statement has been furnished to the Company. 
 Dated:                     , 2005 
  

	
	
	     
 Taxpayer’s Signature

	
	     
 Taxpayer’s Printed Name

 PROCEDURES FOR MAKING ELECTION 
 UNDER INTERNAL REVENUE CODE SECTION 83(b) 
 The
following procedures must be followed with respect to the attached form for making an election under Internal Revenue Code section 83(b) in order for the election to be effective:1 
 1. You must file one copy of the completed
election form with the IRS Service Center where you file your federal income tax returns within 30 days after the Grant Date of your Restricted Stock. 
 2. At the same time you file the election form with the IRS, you must also give a copy of the election form to the Secretary of the Company. 
 3. You must file another copy of the election form with your federal income tax return (generally, Form 1040) for the taxable year in which the
stock is transferred to you. 
  

	1	Whether or not to make the election is your decision and may create tax consequences for you. You are advised to consult your tax advisor if you are unsure whether
or not to make the election.Exhibit 10.25

 Exhibit 10.25 
 KP SPORTS, INC. 
 STOCK OPTION PLAN 
 STOCK OPTION GRANT AGREEMENT 
 This Grant Agreement (the “Agreement”)
is entered into this      day of                     , 200  , by and between KP Sports, Inc. (the
“Corporation”), a Maryland corporation, and
                                        
(“Grantee”). 
 Grantee and the Corporation agree that, until such time as securities issuable pursuant to the Plan become
registered under the Securities Act of 1933, the grant of options hereunder and the purchase and sale of Common Stock upon exercise thereof are intended to comply with the exemption from registration provided by Rule 701 of the Securities Act of
1933 and each party hereto shall use his or its best efforts to comply with such Rule 701. To the extent that an exemption from registration under the Securities Act provided by Rule 701 is unavailable, the grant of options hereunder and the sale of
Common Stock upon exercise thereof are intended to be exempt from registration under the Securities Act in reliance upon the private offering exemption contained in Section 4(2) of the Securities Act, or other available exemption. 

ARTICLE 1 
 GRANT OF OPTION

 Section 1.1 Grant of Options. Subject to the provisions of the Agreement, and pursuant to the provisions of the KP
Sports, Inc., Stock Option Plan (the “Plan”), Corporation hereby grants to Grantee, as of the Grant Date specified in Attachment A, a Stock Option (the “Option”) of the type stated in Attachment A to purchase all or any part of
the number and class of shares of Common Stock set forth on Attachment A at the exercise price per share (“Option Price”) set forth on Attachment A. 
 Section 1.2 Term of Options. Unless the Option granted pursuant to Section 1.1 terminates earlier pursuant to other provisions of the Agreement, the Option shall expire at 5:00 p.m. Eastern
Standard Time on the expiration date specified in Attachment A. If earlier, the Option shall terminate on the date specified in Article IV following the termination of Grantee’s employment or affiliation (as a consultant or director) with the
Corporation. In all events the Option will expire on the tenth (10th) anniversary of its Grant Date. 

 ARTICLE 2 
 VESTING 
 Section 2.1 Vesting Schedule. Unless the Option has earlier terminated
pursuant to the provisions of this Agreement, Grantee shall become vested on the dates specified on Attachment A in a portion of the Option with respect to a percentage or number of the underlying shares in accordance with the vesting schedule
specified on Attachment A; provided that Grantee shall have been in the continuous employ of or affiliation (as a consultant or director) with the Corporation from the Grant Date through any such date. In the event of a planned sale of all or
substantially all of the assets of the Corporation, either through an asset or stock transaction, the vesting schedule shall be accelerated and fifty percent (50%) of the unvested Options provided in this Agreement shall mature and become
exercisable immediately before the closing of the sale. 
 ARTICLE 3 
 EXERCISE OF OPTION 
 Section 3.1 Exercisability of Option. No
portion of the Option granted to Grantee shall be exercisable by Grantee prior to the time such portion of the Option has vested. 
 Section 3.2 Manner of Exercise. The vested portion of the Option may be exercised, in whole or in part, by delivering written notice to the Committee in the form attached hereto as Attachment B or in such other form as
the Committee may require from time to time. Such notice shall specify the number of shares of Common Stock subject to the Option as to which the Option is being exercised, and shall be accompanied by full payment of the Option Price of the shares
of Common Stock as to which the Option is being exercised. Payment of the Option Price shall be made in cash (or cash equivalents acceptable to the Committee in the Committee’s discretion). In the Committee’s sole and absolute discretion,
the Committee may authorize payment of the Option Price to be made, in whole or in part, by such other means as the Committee may prescribe. The Option may be exercised only in multiples of whole shares and no partial shares shall be issued.

 Section 3.3 Issuance of Shares and Payment of Cash upon Exercise. Upon exercise of the Option, in whole or in part, in
accordance with the terms of the Agreement and upon payment of the Option Price for the shares of Common Stock as to which the Option is exercised, the Corporation shall issue to Grantee or, in the event of Grantee’s death, to Grantee’s
executor, personal representative or the person to whom the Option shall have been transferred by will or the laws of descent and distribution, as the case may be, the number of shares of Common Stock so paid for, in the form of fully paid and
nonassessable Common Stock. The stock certificates for any shares of Common Stock issued hereunder shall, unless such shares are registered bear a legend restricting transferability of such shares. 
  

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 Section 3.4 Buy-Sell Agreement. As a condition precedent to the issuance of the shares
of Common Stock pursuant to Section 3.3 hereinabove, Grantee (or, in the event of Grantee’s death or disability, to Grantee’s guardian, legal representative, executor, personal representative or the person to whom the Option shall
have been transferred by will or the laws of descent and distribution, as the case may be) shall be, or shall execute and become, a party to the Buy-Sell Agreement by and between Grantee and the Corporation (the “Buy-Sell Agreement”),
attached hereto as Attachment C and by reference made a part hereof, in such form as the Committee may determine from time to time, which shall in any case be consistent with the terms of the Buy-Sell Agreement as it may be amended from time to
time. Accordingly, the Grantee hereby undertakes and agrees to be bound by all terms and provisions of the Buy-Sell Agreement, regardless of whether the Buy-Sell Agreement is actually executed and delivered by the Grantee. The stock
certificates for any shares of Common Stock issued under Section 3.3 hereinabove shall contain a legend indicating that such shares are subject to the provisions of the Buy-Sell Agreement. 
 ARTICLE 4 
 TERMINATION OF EMPLOYMENT

 Section 4.1 Termination of Employment or Affiliation for Reasons Other Than Death or Disability. Unless the Option
has earlier terminated pursuant to the provisions of this Agreement, in the event of the termination of Grantee’s employment or affiliation (as a consultant or director) for any reason other than death or disability, all unexercised portions of
the Option, whether vested or not, will terminate, be forfeited and will lapse. 
 Section 4.2 Termination of Employment or
Affiliation by Reason of Death or Disability. Unless the Option has earlier terminated pursuant to the provisions of this Agreement, the vested portion of the Option shall terminate thirty (30) days following the termination of
Grantee’s employment or affiliation (as a consultant or director) with the Corporation by reason of death or disability. Grantee (or Grantee’s guardian, legal representative, executor, personal representative or the person to whom the
Option shall have been transferred by will or the laws of descent and distribution, as the case may be) may exercise all or any part of the vested portion of the Option, provided such exercise occurs within thirty (30) days after the
termination of Grantee’s employment or affiliation by reason of death or disability, but not later than the end of the stated term of the Option. 
 ARTICLE 5 
 MISCELLANEOUS 
 Section 5.1 Non-Guarantee of Employment. The Grantee acknowledges and agrees that the vesting of the Option pursuant to the vesting
schedule hereof is earned only by continuing as an employee to the Company. Nothing in the Plan or the Agreement shall be construed as a contract of employment between the Corporation (or an affiliate) and Grantee, or as a contractual right of
Grantee to continue in the employ of the Corporation or an affiliate, or as a limitation of the right of the Corporation or an affiliate to discharge Grantee at any time. 
  

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 Section 5.2 No Rights of Stockholder. Grantee shall not have any of the rights of a
stockholder with respect to the shares of Common Stock that may be issued upon the exercise of the Option until such shares of Common Stock have been issued to him upon the due exercise of the Option. 
 Section 5.3. Qualified Incentive Stock Option. This Option is intended to qualify as an incentive stock option under Section 422
of the Internal Revenue Code of 1986, as amended (the “Code”). Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a non-qualified stock option. 
 Section 5.4 Notice of Disqualifying Disposition. If Grantee makes a disposition (as that term is defined in §424(c) of the Code)
of any shares of Common Stock acquired pursuant to the exercise of an Incentive Stock Option within two (2) years of the Grant Date or within one (1) year after the shares of Common Stock are transferred to Grantee, Grantee shall notify
the Committee of such disposition in writing. 
 Section 5.5 Withholding of Taxes. The Corporation or any affiliate 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 Grantee the amount of any federal, state or local taxes required by law to be withheld as the result
of the exercise of the Option or the disposition (as that term is defined in §424(c) of the Code) of shares of Common Stock acquired pursuant to the exercise of the Option. In lieu of such deduction, the Committee may require Grantee to make a
cash payment to the Corporation or an affiliate equal to the amount required to be withheld. If Grantee does not make such payment when requested, the Corporation may refuse to issue any Common Stock certificate under the Plan until arrangements
satisfactory to the Committee for such payment have been made. 
 Section 5.6 Nontransferability of Option. The Option
shall be nontransferable otherwise than by will or the laws of descent and distribution. The Option may not be assigned, pledged or hypothecated, and shall not be subject to execution, attachment or similar process. During the lifetime of Grantee,
the Option may be exercised only by Grantee or, during the period Grantee is under a legal disability, by Grantee’s guardian or legal representative. Upon any attempt to transfer this Option, or to assign, pledge, hypothecate or otherwise
dispose of this Option in violation of this provision, or upon the levy of any attachment or similar process upon such Option or such rights, this Option shall immediately lapse and become null and void. 
 Section 5.7 Agreement Subject to Charter and Bylaws. This Agreement is subject to the Charter and Bylaws of the Corporation, as
amended, and any applicable Federal or state laws, rules or regulations, including without limitation, the laws, rules, and regulations of the State of Maryland. 
  

 -4- 

 Section 5.8 Gender. As used herein the masculine shall include the feminine as the
circumstances may require. 
 Section 5.9 Headings. The headings in the Agreement are for reference purposes only and
shall not affect the meaning or interpretation of the Agreement. 
 Section 5.10 Notices. All notices and other
communications made or given pursuant to the Agreement shall be in writing and shall be sufficiently made or given if hand delivered or mailed by certified mail, addressed to Grantee at the address contained in the records of the Corporation, or
addressed to the Committee, care of the Corporation for the attention of its Secretary at its principal 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. 
 Section 5.11 Compliance with Regulatory Matters. The Grantee acknowledges the
issuance of shares of Common Stock is subject to limitations imposed by federal and state law, and the Grantee hereby agrees that the Company shall not be obligated to issue any shares of Common Stock upon exercise of the Option that would cause the
Company to violate law or any rule, regulation, order or consent decree of any regulatory authority (including without limitation the Securities and Exchange Commission) having jurisdiction over the affairs of the Company. 
 Section 5.12 Entire Agreement; Modification Waiver. The Agreement contains the entire agreement between the parties with respect to
the subject matter contained herein and may not be modified, except as provided in the Plan or in a written document signed by each of the parties hereto. No waiver of any breach of any provision of this Agreement shall constitute a waiver of any
other breach of that or any other provision hereof. 
 Section 5.13 Conformity with Plan. This Agreement is intended to
conform in all respects with, and is subject to all applicable provisions of, the Plan, which is incorporated herein by reference. Unless stated otherwise herein, capitalized terms in this Agreement shall have the same meaning as defined in 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 the Agreement or any matters as to which the Agreement is silent, the Plan shall govern including,
without limitation, the provisions thereof pursuant to which the Committee has the power, among others, to (i) interpret the Plan and Grant Agreements related thereto, (ii) prescribe, amend and rescind rules and regulations relating to the
Plan, and (iii) make all other determinations deemed necessary or advisable for the administration of the Plan. The Grantee acknowledges by signing this Agreement that he or she has received and reviewed a copy of the Plan. 
  

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 IN WITNESS WHEREOF, the parties have executed the Agreement as of the date first above written.

  

							
	ATTEST:	 		 	KP SPORTS, INC.
				
	  
	 		 	By:	 	  

		 		 	Name:	 	Kevin A. Plank
		 		 	Title:	 	President
			
	WITNESS:	 		 	GRANTEE
			
	  
	 		 	  

  

 -6- 

 KP SPORTS, INC. 
 STOCK OPTION PLAN 
 STOCK OPTION GRANT AGREEMENT 
 ATTACHMENT A 
  

					
	Grantee:	 	
		
	Type of Option:	 	Incentive Stock Option
		
	Grant Date:	 	
		
	Number and Class of Shares:	 	                     shares of Common Stock
		
	Exercise Price Per Share:	 	$
		
	Expiration Date:	 	
		
	Termination Date:	 	If earlier than the Expiration Date, the Option terminates at the following times after your termination of employment or affiliation with the Corporation:
			
		 	Immediately -	 	following resignation or termination for any reason other than death or Disability.
			
		 	Thirty (30) days –	 	following resignation or termination due to death or Disability.

  

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 Vesting Schedule: 
 The Option shall become vested and exercisable with respect to 
  

										
	Number of
Shares	 	Date Granted	 	Date Excerisable	 	Option Price
per share	 	Expiration Date
		 		 		 	$	            	 	

 provided Grantee has been in continuous employment or affiliation (as a consultant or director) with the
Corporation from the Grant Date through any such vesting date or such earlier date as provided in Section 2.1 
  

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 KP SPORTS, INC. 
 STOCK OPTION PLAN 
 STOCK OPTION GRANT AGREEMENT 
 ATTACHMENT B 
 EXERCISE FORM

 KP Sports, Inc. 
 1020 Hull Street, Third Floor 
 Baltimore, Maryland 21230 
 Gentlemen: 
 1. Exercise
of Stock Option. I hereby exercise the Incentive Stock Option (the “Stock Option”) granted to me on                      by KP
Sports, Inc. (the “Corporation”), subject to all the terms and provisions thereof and of the KP Sports, Inc. Stock Option Plan (the “Plan”), and notify you of my desire to purchase
                     shares (the “Shares”) of Common Stock of the Corporation at a price of
$                     per share pursuant to the exercise of said Stock Option. 
 2. Information about the Corporation. I am aware of the Corporation’s business affairs and financial condition and have acquired sufficient
information about the Corporation to reach an informed and knowledgeable decision to acquire the Shares. 
 3. Tax Consequences. I am
not relying upon the Corporation for any tax advice in connection with this option exercise, but rather am relying on my own personal tax advisors in connection with the exercise of the Stock Option and any subsequent disposition of the Shares.

 4. Tax Withholding. I understand that, in the case of a nonqualified stock option, I must submit upon demand from the Corporation
an amount in cash or cash equivalents sufficient to satisfy any federal, state or local tax withholding applicable to this Stock Option exercise, in addition to the purchase price enclosed, or make such other arrangements for such tax withholding
that are satisfactory to the Corporation, in its sole discretion, in order for this exercise to be effective. 
 5. Unregistered
Shares. The following shall apply in the event the Shares purchased herein are not registered under the Securities Act of 1933, as amended: 
 (a) I am acquiring the Shares for my own account for investment with no present intention of dividing my interest with others or of reselling or otherwise disposing of any of the Shares. 
  

 -1- 

 (b) The Shares are being issued without registration under the Securities Act of 1933, as amended (the
“Act”), in reliance upon the exemption provided by Section 3(b) of the Act for employee benefit plans, contained in Rule 701 promulgated thereunder, or in lieu thereof upon the private offering exemption contained in Section 4(2)
of the Act, and such reliance is based in part on the above representation. 
 (c) Since the Shares have not been registered under the Act,
they must be held indefinitely until an exemption from the registration requirements of the Act is available or they are subsequently registered, in which event the representation in Paragraph (a) hereof shall terminate. As a condition to any
transfer of the Shares, I understand that the Corporation will require an opinion of counsel satisfactory to the Corporation to the effect that such transfer does not require registration under the Act or any state securities law. 
 (d) The issuer is not obligated to comply with the registration requirements of the Act or with the requirements for an exemption under Regulation A
under the Act for my benefit. 
 (e) The certificates for the Shares to be issued to me shall contain appropriate legends to reflect the
restrictions on transferability imposed by the Act. 
 (f) I am a party to the Buy-Sell Agreement with the Corporation (or will be upon the
issuer’s execution of the Buy-Sell Agreement executed by me and attached hereto) pursuant to which I have agreed to certain restrictions on the transferability of the Shares and other matters relating thereto, and the certificates for the
Shares to be issued to me shall contain a legend to that effect. Accordingly, I hereby undertake and agree to be bound by all terms and provisions of the Buy-Sell Agreement, regardless of whether the Buy-Sell Agreement is actually executed and
delivered by me. 
 Total Amount Enclosed:
$                     
  

					
	Date:
                                        
              	 	  

		
		 	Received by KP Sports, Inc.
			
		 	On:	 	                                      
  , 20    
			
		 	By:	 	  

  

 -2-

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