Document:

exv10wxaay

 

Exhibit 10(aa)

October 5, 2005

Mr. Greg W. Slack

13858 Freeport Road

San Diego, CA 92129

Re: Employment at Ashworth, Inc.

Dear Mr. Slack:

In accordance with our recent discussions, we are pleased to confirm our offer to you of a position
with Ashworth, Inc. (the “Company”) upon the following terms and conditions:

	1.	 	Position; Reporting; Commencement. The initial position title shall be Director of
Internal Audit and you shall initially report to The Audit Committee. Additional reporting
responsibilities will be to Peter Case in his position of Executive VP / CFO / Treasurer. You
shall commence employment effective on or before October 10, 2005. You will be required to
observe the Company’s personnel and business policies and procedures. In the event of any
conflict, the terms of this letter will control.

	2.	 	Base Salary; Reviews. You will receive a bi-weekly salary of $4,807.70, less
applicable withholding and deductions, which is payable every other Friday. Employees are
generally given performance reviews in or about January of each year.

	3.	 	Savings Plan. You will be eligible to participate in the Company’s 401(k) Plan at
the first entry date following the completion of six months continuous employment with the
Company. Under the current provisions, you will be eligible as of July 1, 2006.

	4.	 	Stock Options: The Company will grant you 5,000 options to purchase shares of the
Company’s common stock at an exercise price equal to the closing share price the day before
your employment commences. The options will vest over a three-year period, i.e. 1,666 vesting
on the one-year anniversary of employment commencement; 1,667 vesting on the two-year
anniversary of employment commencement; and 1,667 vesting on the three-year anniversary of
employment commencement. Options will be exercisable for a period of time from the vesting
date as defined by the Company’s Stock Option Plan. You have an opportunity to receive
additional stock options each year during the annual review process

	5.	 	Bonus: You have an opportunity to receive a 20% bonus ($25,000) of your annual
salary if the Company meets the plan. In order to be eligible for the bonus program you must
be employed with Ashworth Inc. through the end of each fiscal year.

	6.	 	Insurance Benefits. The Company will provide you with coverage under its group
medical, dental and life insurance policies as more specifically described in the group
insurance materials which will be provided to you upon your commencement of employment. The
cost of the medical and dental coverage will be shared between you and the Company, depending
on your plan and coverage elections. Under the current provisions, you will be eligible as of
December 1, 2005. The Company reserves the right to change, modify or eliminate such benefits
or coverages in its discretion.

	7.	 	Vacation:  Paid vacation time begins to accrue following the completion of ninety
days of service. Upon the successful completion of ninety days of service, you will be
credited with paid vacation hours from date of hire. You will accrue 4.61 hrs. per pay-period
a total, of 3 weeks per year

	8.	 	Business Expenses, Mileage Reimbursement and Clothing Allowance. You will receive
reimbursement for normal, ordinary and reasonable business expenses upon your submission of
receipts substantiating the expenses claimed in accordance with Company policy. As part of
reasonable expenses, you will be

 

 

October 5, 2005

Mr. Greg W. Slack

Page 2 of 2

	 	 	entitled to reimbursement for business usage of your personal automobile. You will receive a
Clothing Allowance in accordance with Company policy of $50.00 per month.

	 
	9.	 	Confidentiality; Use of Licensed Software; Solicitation of Employees; Return of Property;
Termination. You acknowledge that, in the course of your employment with the Company, you
will have access to confidential information concerning the organization and functioning of
the business of the Company, and that such information is a valuable trade secret and the sole
property of the Company. Accordingly, except as required by law, legal process, or in
connection with any litigation between the parties hereto with respect to matters arising out
of this agreement, you agree that you will not, at any time during your employment with the
Company or after such employment, whether such employment is terminated as a
result of your resignation or discharge, disclose or furnish any such information to any
person other than an officer of the Company, and you will make no use of any such
information for your personal benefit.

	 
	 	 	The Company licenses the use of computer software from a variety of outside companies and,
unless authorized by the software developer, does not have the right to reproduce it. You
may use software only in accordance with the license agreement, whether on local area
networks or on multiple machines. If you learn of any misuse of software or related
documentation within the Company, you must notify your department manager. If you make,
acquire or use unauthorized copies of such computer software, you shall be disciplined as
appropriate under the circumstances. Such discipline may include termination.

	 
	 	 	You agree that for a period of two years from the date of voluntary or involuntary
termination, you will not solicit on your behalf, or on behalf of a third party, any then
current employee of the Company, to leave his or her employment with the Company for
employment with another employer.

	 
	 	 	You further agree that in the event of such termination, whether voluntary or involuntary,
you will not remove from the offices of the Company any personal property that does not
rightfully and legally belong to you and that you will return on the date of your said
termination, to an authorized representative of the Company, any and all property belonging
to the Company. You also agree that you will provide passwords on request for personal
computer files.

	 
	10.	 	At-Will Employment. You understand and agree that you are being employed for an
unspecified term and that this is an “at-will” employment relationship. This means that
either you or the Company may terminate your employment at will at any time with or without
cause or notice. This at-will aspect of your employment, which includes the right of the
Company to transfer, discipline, demote and/or reassign, may not be modified, amended or
rescinded except by an individual written agreement signed by both you and the Company’s
President. This letter sets forth the entire agreement between the parties and there are no
prior or contemporaneous representations, promises or conditions, whether oral or written, to
the contrary.

This offer of employment is contingent upon the satisfactory completion of a background check,
verifying that the information provided by you on your application and resume is accurate and
correct. The Company reserves the right to withdraw an offer of employment, or to terminate
employment, at any time based on information arising from the background check.

If you are in agreement with the terms of this letter, please sign and return one copy of the
enclosed letter to the Human Resource Department to effect the commencement of your employment. If
you have any questions, please contact me at your earliest convenience.

Sincerely,

	 	 	 
	/s/Rosie Rivera
	 	 
	 

Rosie Rivera

	 	 
	Director of Human Resources
	 	 

ACCEPTED AND AGREED TO THIS

10 DAY OF October, 2005

	 	 	 
	/s/Greg W. Slack
	 	 
	 

Greg W. Slackexv10wxaayx1y

 

Exhibit 10(aa)(1)

AGREEMENT RE: CHANGE IN CONTROL

     This AGREEMENT RE: CHANGE IN CONTROL (this “Agreement”) is dated as of February 9, 2006 and is
entered into by and between Greg Slack (“Executive”) and Ashworth, Inc., a Delaware corporation
(the “Company”).

Background

     The Company believes that because of its position in the industry, financial resources and
historical operating results there is a possibility that the Company may become the subject of a
Change in Control (as defined below), either now or at some time in the future.

     The Company believes that it is in the best interest of the Company and its stockholders to
foster Executive’s objectivity in making decisions with respect to any pending or threatened Change
in Control of the Company and to assure that the Company will have the continued dedication and
availability of Executive, notwithstanding the possibility, threat or occurrence of a Change in
Control. The Company believes that these goals can best be accomplished by alleviating certain of
the risks and uncertainties with regard to Executive’s financial and professional security that
would be created by a pending or threatened Change in Control and that inevitably would distract
Executive and could impair his ability to objectively perform his duties for and on behalf of the
Company. Accordingly, the Company believes that it is appropriate and in the best interest of the
Company and its stockholders to provide to Executive compensation arrangements upon a Change in
Control that lessen Executive’s financial risks and uncertainties and that are reasonably
competitive with those of other corporations.

     With these and other considerations in mind, the Compensation Committee of the Company has
authorized the Company to enter into this Agreement with the Executive to provide the protections
set forth herein for Executive’s financial security following a Change in Control.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration the receipt of which is hereby acknowledged, it is hereby agreed as follows:

Agreement

     1. Term of Agreement. This Agreement shall be effective from the date first written
above and, subject to the provisions of Section 4, shall extend to (and thereupon automatically
terminate) one (1) day after Executive’s termination of employment with the Company for any reason.
No termination of this Agreement shall limit, alter or otherwise affect Executive’s rights
hereunder with respect to a Change in Control which has occurred prior to such termination,
including without limitation Executive’s right to receive the various benefits hereunder.

     2. Purpose of Agreement. The purpose of this Agreement is to provide that, in the
event of a “Change in Control,” Executive may become entitled to receive certain additional
benefits, as described herein, in the event of his termination under specified circumstances.

     3. Change in Control. As used in this Agreement, the phrase “Change in Control” shall
mean:

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          (i) Except as provided by subparagraph (iii) hereof, the acquisition (other than from the
Company) by any person, entity or “group”, within the meaning of Section 13(d)(3) or 14(d)(2) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (excluding, for this purpose,
the Company or its subsidiaries, or any executive benefit plan of the Company or its subsidiaries
which acquires beneficial ownership of voting securities of the Company), of beneficial ownership
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of forty percent (40%) or
more of either the then 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; or

          (ii) Individuals who, as of the date hereof, constitute the Board of Directors of the Company
(as of the date hereof the “Incumbent Board”) cease for any reason to constitute at least a
majority of the Board of Directors of the Company, provided that any person becoming a director
subsequent to the date hereof whose election, or nomination for election by the Company’s
stockholders, is or was approved by a vote of at least a majority of the directors then comprising
the Incumbent Board (other than an election or nomination of an individual whose initial assumption
of office is in connection with an actual or threatened election contest relating to the election
of the Directors of the Company, as such terms are used in Rule 14a-11 of Regulation 14A
promulgated under the Exchange Act) shall be, for purposes of this Agreement, considered as though
such person were a member of the Incumbent Board; or

          (iii) Approval by the stockholders of the Company of a reorganization, merger or consolidation
with any other person, entity or corporation, other than

          (1) a merger or consolidation which would result in the voting securities of the
Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of another entity) more than fifty
percent (50%) of the combined voting power of the voting securities of the Company or such
other entity outstanding immediately after such merger or consolidation, or

          (2) a merger or consolidation effected to implement a recapitalization of the Company
(or similar transaction) in which no person acquires forty percent (40%) or more of the
combined voting power of the Company’s then outstanding voting securities; or

          (iv) Approval by the stockholders of the Company of a plan of complete liquidation of the
Company or an agreement for the sale or other disposition by the Company of all or substantially
all of the Company’s assets.

     4. Effect of a Change in Control. In the event of a Change in Control, Sections 6
through 11 of this Agreement shall become applicable to Executive. These Sections shall continue to
remain applicable until the third anniversary of the date upon which the Change in Control occurs.
On such third anniversary date, and provided that the employment of Executive has not been
terminated on account of a Qualifying Termination (as defined in Section 5 below), this Agreement
shall terminate and be of no further force or effect.

     5. Qualifying Termination. If within one (1) year following, or within ninety (90)
days prior to, a Change in Control Executive’s employment with the Company and its affiliated
companies is terminated, such termination shall be conclusively considered a “Qualifying
Termination” unless:

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     (a) Executive voluntarily terminates his employment with the Company and its affiliated
companies. Executive, however, shall not be considered to have voluntarily
terminated his employment with the Company and its affiliated companies if he elects to
terminate his employment because his overall compensation plan is reduced or adversely
modified in any material respect or his authority or duties are materially changed. For
such purposes, Executive’s authority or duties shall be considered to have been “materially
changed” if, without Executive’s express and voluntary written consent, there is any
substantial diminution or adverse modification in his title, status, overall position, or
responsibilities.

     (b) The termination is on account of Executive’s death or Disability. For such
purposes, “Disability” shall mean a physical or mental incapacity as a result of which
Executive becomes unable to continue the performance of his responsibilities for the Company
and its affiliated companies for a period of three (3) months.

     (c) Executive is involuntarily terminated for “Cause.” For this purpose, “Cause” shall
mean:

     1. Executive’s willful and deliberate refusal to comply with a lawful,
instruction of the CEO or Board of Directors, which refusal is not remedied by
Executive within a reasonable period of time after his receipt of written notice
from the Company identifying the refusal, so long as the instruction is consistent
with the scope and responsibilities of Executive’s position;

     2. Executive’s act or acts of personal dishonesty;

     3. Executive’s conviction of a felony;

     4. Executive’s violation of the Company’s policies and/or code of conduct;

     5. Executive’s violation of any confidentiality or non-competition agreement
with the Company or any Affiliate of the Company; or

     6. The willful engaging by Executive in misconduct which is injurious to the
Company.

     6. Severance Payment. If Executive’s employment is terminated as a result of a
Qualifying Termination, the Company shall pay Executive within thirty (30) days after the
Qualifying Termination a cash lump sum equal to (9) months of Executive’s base salary (the
“Severance Payment”).

     (a) For purposes of this Agreement, Executive’s “base salary” shall equal the
Executive’s highest annual salary rate with the Company within the three year period ending
on the date of Executive’s Qualifying Termination.

     (b) In lieu of a cash lump sum, Executive may, in his sole discretion, elect to receive
the Severance Payment provided by this Section in equal annual installments over
three (3) years. Such installments shall be paid to Executive on each anniversary
of the date of Executive’s Qualifying Termination, beginning with the first such anniversary
and continuing on each such anniversary thereafter until fully paid. Such election to
receive the Severance Payment in installments may be made and/or revoked

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by Executive at any time prior to the occurrence of a Change in Control by written
notice to the Board of Directors of the Company. Upon the occurrence of a Change in
Control, any such election to receive the Severance Payment in installments that has been
made and not revoked prior to the Change in Control shall be irrevocable and binding on both
the Company and Executive. In the event that at the time of a Change in Control there is
not in effect an election by Executive to receive the Severance Payment in installments,
such Severance Payment shall be paid to Executive in a single cash lump sum as provided in
subparagraph (a) above.

     (c) The Severance Payment hereunder is in lieu of any severance payment that Executive
might otherwise be entitled to from the Company in the event of a Change in Control under
the Company’s applicable severance pay policies, if any, or under any other oral or written
agreement; provided, however, that Executive shall continue to be entitled
to receive the severance pay benefits under the Company’s applicable policies, if any, or
under another written agreement if and to the extent Executive’s termination is not a
Qualifying Termination after, or within ninety (90) days prior to, a Change in Control.

     7. Health Care Benefits. The Company shall continued health care coverage for nine
(9) months.

     8. Indemnification for Excise Tax. In the event that Executive becomes entitled to
receive a Severance Payment in accordance with the provisions of Section 6 above, and such
Severance Payment and any other benefits or payments (including transfers of property) that
Executive receives, or is to receive, pursuant to this Agreement or any other agreement, plan or
arrangement with the Company in connection with a Change in Control of the Company (“Other
Benefits”) shall be subject to the tax imposed pursuant to Section 4999 of the Internal Revenue
Code of 1986, as amended (the “Code”)(or any successor thereto) or any comparable provision of
state law (an “Excise Tax”), the following rules shall apply:

     (a) The Company shall pay to Executive, within thirty (30) days after the Executive’s
Qualifying Termination, an additional amount (the “Gross-Up Payment”) such that the net
amount retained by Executive, after deduction of any Excise Tax with respect to the
Severance Payment or the Other Benefits and any federal, state and local income tax, FICA
tax, and Excise Tax upon such Gross-Up Payment, is equal to the amount that would have been
retained by Executive if such Excise Tax were not applicable. It is intended that Executive
shall not suffer any loss or expense resulting from the assessment of any Excise Tax or the
Company’s reimbursement of Executive for payment of any such Excise Tax.

     (b) For purposes of determining whether any of the Severance Payments or Other Benefits
will be subject to an Excise Tax and the amount of such Excise Tax, (i) any other payments
or benefits received or to be received by Executive in connection with a Change in Control
of the Company or Executive’s termination of employment (whether pursuant to the terms of
this Agreement or any other plan, arrangement or agreement with the Company, any person
whose actions result in a Change in Control or any person affiliated with the Company or
such person) shall be treated as “parachute payments” within the meaning of Section
280G(b)(2) of the Code (or any successor thereto), and all “excess parachute payments”
within the meaning of Section 280G(b)(l) of the Code (or any successor thereto) shall be
treated as subject to the Excise Tax, unless in the opinion of tax counsel selected by the
Company’s independent auditors

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and acceptable to Executive such other payments or benefits (in whole or in part) do
not constitute parachute payments, or such excess parachute payments (in whole or in part)
represent reasonable compensation for services actually rendered within the meaning of
Section 280G(b)(4) of the Code (or any successor thereto), (ii) the amount of the Severance
Payments and Other Benefits which shall be treated as subject to the Excise Tax shall be
equal to the lesser of (A) the total amount of the Severance Payments or Other Benefits or
(B) the amount of excess parachute payments within the meaning of Sections 280G(b)(l) and
(4) of the Code (or any successor or successors thereto), after applying clause (i), above,
and (iii) the value of any non-cash benefits or any deferred payment or benefit shall be
determined by the Company’s independent auditors in accordance with the principles of
Sections 280G(d)(3) and (4) of the Code (or any successor or successors thereto).

     (c) For purposes of determining the amount of the Gross-Up Payment, Executive shall be
deemed to pay federal income taxes at the highest marginal rate of federal income taxation
in the calendar year in which the Gross-Up Payment is to be made and state and local income
taxes at the highest marginal rates of taxation in the state and locality of Executive’s
residence on the date of the Executive’s Qualifying Termination, net of the maximum
reduction in federal income taxes which could be obtained from deduction of such state and
local taxes.

     (d) In the event that the Excise Tax is subsequently determined to be less than the
amount taken into account hereunder at the time of the Executive’s Qualifying Termination,
the Executive shall repay to the Company, at the time that the amount of such reduction in
Excise Tax is finally determined, the portion of the Gross-Up Payment attributable to such
reduction plus interest on the amount of such repayment at the rate provided in Section
1274(b)(2)(B) of the Code (or any successor thereto) (the “Applicable Rate”). In the event
that the Excise Tax is determined to exceed the amount taken into account hereunder at the
time of such Qualifying Termination (including by reason of any payment the existence or
amount of which cannot be determined at the time of the Gross-Up Payment), the Company shall
make an additional Gross-Up Payment in respect of such excess (plus interest, determined at
the Applicable Rate, payable with respect to such excess) at the time that the amount of
such excess is finally determined.

     9. Rights and Obligations Prior to a Change in Control. Prior to the date which is
ninety (90) days before a Change in Control, the rights and obligations of Executive with respect
to his employment by the Company shall be determined in accordance with the policies and procedures
adopted from time to time by the Company and the provisions of any written employment contract in
effect between the Company and Executive from time to time. This Agreement deals only with certain
rights and obligations of Executive subsequent, or within ninety (90) days prior to, a Change in
Control, and the existence of this Agreement shall not be treated as raising any inference with
respect to what rights and obligations exist prior to the date which is ninety (90) days before a
Change in Control. Unless otherwise expressly set forth in a separate written employment agreement
between Executive and the Company, the employment of Executive is expressly at-will, and Executive
or the Company may terminate Executive’s employment with the Company at any time and for any
reason, with or without cause, provided that if such termination occurs within ninety (90) days
prior to or one (1) year after a Change in Control and constitutes a Qualifying Termination (as
defined in Section 5 above) the provisions of this Agreement shall govern the payment of the
Severance Payment and certain other benefits as provided herein.

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     10. Non-Exclusivity of Rights. Subject to Section 6(c) hereof, nothing in this
Agreement shall prevent or limit Executive’s continuing or future participation in any benefit,
bonus, incentive or other plan or program provided by the Company or any of its affiliated
companies and for which Executive may qualify, nor shall anything herein limit or otherwise affect
such rights as Executive may have under any stock option or other agreements with the Company or
any of its affiliated companies. Except as otherwise provided in Section 6(c) hereof, amounts
which are vested benefits or which Executive is otherwise entitled to receive under any plan or
program of the Company or any of its affiliated companies at or subsequent to the date of any
Qualified Termination shall be payable in accordance with such plan or program.

     11. Full Settlement. The Company’s obligation to make the payments provided for in
this Agreement and otherwise to perform its obligations hereunder shall not be affected by any
set-off, counter-claim, recoupment, defense or other claim, right or action which the Company may
have against Executive or others. In no event shall Executive be obligated to seek other
employment or to take any other action by way of mitigation of the amounts payable to Executive
under any of the provisions of this Agreement. The Company agrees to pay, to the full extent
permitted by law, all legal fees and expenses which Executive may reasonably incur as a result of
Executive’s successful collection efforts to receive amounts payable hereunder, or as a result of
any contest (regardless of the outcome thereof) by the Company or others of the validity or
enforceability of, or liability under, any provision of this Agreement or any guarantee of
performance thereof (including as a result of any contest by Executive about the amount of any
payment pursuant to this Section).

     12. Successors.

     (a) This Agreement is personal to Executive, and without the prior written consent of
the Company shall not be assignable by Executive other than by will or the laws of descent
and distribution. This Agreement shall inure to the benefit of and be enforceable by
Executive’s legal representatives.

     (b) The rights and obligations of the Company under this Agreement shall inure to the
benefit of and shall be binding upon the successors and assigns of the Company.

     13. Governing Law. This Agreement is made and entered into in the State of
California, and the internal laws of California shall govern its validity and interpretation in the
performance by the parties hereto of their respective duties and obligations hereunder.

     14. Modifications. This Agreement may be amended or modified only by an instrument in
writing executed by all of the parties hereto.

     15. Dispute Resolution: Executive and the Company will utilize a system of binding
arbitration to resolve all disputes that may arise out of the employment context. Both the Company
and Executive agree that any claim, dispute, and/or controversy that either Executive may have
against the Company (or its owners, directors, officers, managers, employees, agents, and parties
affiliated with its employee benefit and health plans) or the Company may have against Executive,
arising from, related to, or having any relationship or connection whatsoever with Executive’s
seeking employment with, employment by, or other association with the Company, shall be submitted
to and determined exclusively by binding arbitration under the Federal Arbitration Act, in
conformity with the procedures of the California Arbitration Act (Cal. Code Civ. Proc. sec 1280 et
seq., including section 1283.05 and all of the Act’s other

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mandatory and permissive rights to discovery). Included within the scope of this Agreement
are all disputes, whether based on tort, contract, statute (including, but not limited to, any
claims or discrimination and harassment, whether they be based on the California Fair Employment
and Housing Act, Title VII of the Civil Rights Act of 1964, as amended, or any other state or
federal law or regulation), equitable law, or otherwise. However, nothing herein shall prevent
Executive from filing and pursuing proceedings before the California Department of Fair Employment
and Housing, or the United States Equal Employment Opportunity Commission (although if Executive
chooses to pursue a claim following the exhaustion of such administrative remedies, that claim
would be subject to the provisions of this Agreement). In addition to any other requirements
imposed by law, the arbitrator selected shall be a retired California Superior Court Judge and
shall be subject to disqualification on the same grounds as would apply to a judge of such court.
To the extent applicable in civil actions in California courts, the following shall apply and be
observed: all rules of pleading (including the right of demurrer), all rules of evidence, and all
rights to resolution of the dispute by means of motions for summary judgment, judgment on the
pleadings, and judgment under Code of Civil Procedure Section 631.8. Resolution of the dispute
shall be based solely upon the law governing the claims and defenses pleaded, and the arbitrator
may not invoke any basis (including but not limited to, notions of “just cause”) other than such
controlling law. The arbitrator shall have the immunity of a judicial officer from civil liability
when acting in the capacity of an arbitrator, which immunity supplements any other existing
immunity. Likewise, all communications during or in connection with the arbitration proceedings
are privileged in accordance with Cal. Civil Code Section 47(b). As reasonably required to allow
full use and benefit of this agreement’s modification to the Act’s procedures, the arbitrator shall
extend the times set by the Act for the giving of notices and setting of hearings. Awards shall
include the arbitrator’s written reasoned opinion.

     16. Notices. Any notice or communications required or permitted to be given to the
parties hereto shall be delivered personally or be sent by United States registered or certified
mail, postage prepaid and return receipt requested, and addressed or delivered as follows, or at
such other addresses the party addressed may have substituted by notice pursuant to this Section:

	 	 	 	 	 
	 

	 	Ashworth, Inc.
	 	Greg Slack
	 

	 	2765 Loker Avenue West
	 	13858 Freeport Road
	 

	 	Carlsbad, California 92010
	 	San Diego, CA 92129
	 

	 	Attn:           President	 	 

     17. Captions. The captions of this Agreement are inserted for convenience and do not
constitute a part hereof.

     18. Severability. In case any one or more of the provisions contained in this
Agreement shall for any reason be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provision of this Agreement,
but this Agreement shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein and there shall be deemed substituted for such invalid,
illegal or unenforceable provision such other provision as will most nearly accomplish the intent
of the parties to the extent permitted by the applicable law. In case this Agreement, or any one
or more of the provisions hereof, shall be held to be invalid, illegal or unenforceable within any
governmental jurisdiction or subdivision thereof, this Agreement or any such provision thereof
shall not as a consequence thereof be deemed to be invalid, illegal or unenforceable in any other
governmental jurisdiction or subdivision thereof.

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     19. Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which shall together constitute one in the same
Agreement.

     IN WITNESS HEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the day and year first written above in Carlsbad, California.

	 	 	 	 	 	 	 
	Dated: February 9, 2006	 	ASHWORTH, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Randall L. Herrel, Sr.
 

Randall L. Herrel, Sr.
	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	 Chairman, President and CEO	 	 
	 
	 	 	 	 	 	 
	Dated: February 9, 2006	 	GREG SLACK	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Greg Slack
 

Greg Slack
	 	 

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