Document:

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                                                                   EXHIBIT 10.42

                                FIRST AMENDMENT
                                       TO
                         RECEIVABLES TRANSFER AGREEMENT

          THIS FIRST AMENDMENT TO RECEIVABLES TRANSFER AGREEMENT, dated as of
April 28, 2000 (this "Amendment") is entered into among Callaway Golf Sales
                      ---------
Company, a California corporation ("CGS"), as transferor of Receivables (the
                                    ---
"CGS Originator") and as a servicer (the "Servicer"), Callaway Golf Company, a
---------------                           --------
Delaware corporation (the "Parent Guarantor") and Golf Funding Corporation, a
                           ----------------
California corporation ("GFC"), and relates to that certain Receivables Transfer
                         ---
Agreement dated as of February 10, 1999 among CGS, the Parent Guarantor and GFC
(as the same may be amended, supplemented, restated or otherwise modified from
time to time, the "Receivables Transfer Agreement").  Capitalized terms used and
                   ------------------------------
not otherwise defined herein shall have the meanings assigned to them in the
Receivables Transfer Agreement.

                              W I T N E S S E T H

          WHEREAS, the CGS Originator, the Parent Guarantor and GFC have entered
into the Receivables Transfer Agreement;

          WHEREAS, the Parent Guarantor and General Electric Capital Corporation
(the "Agent"), inter alia, have entered into that certain Amended and Restated
      -----
Credit Agreement dated as of February 10, 1999, as amended by the First
Amendment to Amended and Restated Credit Agreement dated as of April 28, 2000
(the "First Amendment to Credit Agreement") (as amended by the First Amendment
      -----------------------------------
to Credit Agreement, and as it may be further amended, supplemented, restated or
otherwise modified from time to time, the "Credit Agreement");
                                           ----------------

          WHEREAS, pursuant to the First Amendment to Credit Agreement, the
Parent Guarantor and the other Credit Parties (as defined therein) have
requested that the Agent and the Lenders (as defined therein) amend the Credit
Agreement to amend the Restricted Payment and Tangible Net Worth covenants
contained therein to permit the repurchase of shares of the Parent Guarantor's
common Stock for cash in an aggregate amount of up to $250,000,000, subject to
the terms and conditions described in the Credit Agreement (the "Stock
                                                                 -----
Repurchases");
-----------

          WHEREAS, the Parent Guarantor and the CGS Originator have requested
that GFC amend the Receivables Transfer Agreement to amend the Restricted
Payment and Tangible Net Worth covenants contained therein to permit the Stock
Repurchases, and GFC is willing to enter into such amendments on the terms and
conditions set forth herein;

          NOW, THEREFORE, in consideration of the above premises, the CGS
Originator, the Parent Guarantor and GFC agree as follows:

     1.  Amendments to the Receivables Transfer Agreement.  Upon the
         ------------------------------------------------
"Effective Date" (as defined in Section 3 below), the Receivables Transfer
                                ---------

                Agreement is hereby amended as follows:
<PAGE>

          a.  Amendment to Section 4.05(a).  Section 4.05(a) is hereby amended
              ----------------------------
     by deleting the words "Other than as expressly permitted by the Credit
     Agreement as in effect on the date hereof," and substituting the following
     in lieu thereof:

          "Other than as expressly permitted by the Credit Agreement as in
          effect on the date hereof, as amended by the First Amendment to
          Amended and Restated Credit Agreement dated as of April 28, 2000 (the
          "First Amendment to Credit Agreement"), "
           -----------------------------------

          b.  Amendment to Annex W.  Annex W is hereby amended by adding the
              --------------------
     following phrase to the end of subsection (a) thereof:

          ", less (iv) all cash paid after April 1, 2000 to (or on behalf of)
             ----
          holders of the Parent Guarantor's common Stock pursuant to and subject
          to the terms and conditions set forth in Section 6.14(e) of the Credit
          Agreement, as amended by the First Amendment to Credit Agreement."

     2.  Representations and Warranties.  The CGS Originator and the Parent
         ------------------------------
Guarantor hereby represent and warrant to GFC that, as of the Effective Date and
after giving effect to this Amendment:

          a.  All of the representations and warranties of each of the CGS
     Originator and the Parent Guarantor contained in this Amendment and the
     Receivables Transfer Agreement are true and correct in all material
     respects on and as of the Effective Date, as if then made (other than
     representations and warranties which expressly speak as of a different
     date, which shall be true and correct in all material respects as of that
     date); and

         b.  No Incipient Termination Event or Termination Event has occurred or
is continuing or will result after giving effect to this Amendment.

     3.  Effective Date.  This Amendment shall become effective as of the date
         --------------
first written above (the "Effective Date") upon the satisfaction of each of the
                          --------------
following conditions:

          a.  GFC shall have received each of the following documents, in each
     case in form and substance satisfactory to GFC, prior to 5:00 p.m. (New
     York time) on May 15, 2000;

              i.   counterparts hereof executed by each of the CGS Originator,
          the Parent Guarantor, the Collateral Agent, the Operating Agent and
          the Purchaser (as required pursuant to Section 8.06 of the Receivables
          Transfer Agreement);

              ii.  a certificate of the Secretary or Assistant Secretary of each
          of the CGS Originator and the Parent Guarantor dated the Effective
          Date certifying (A) that the bylaws of such party have not been
          amended or

                                       2
<PAGE>

          otherwise modified since the date of the most recent certification
          thereof by the Secretary or Assistant Secretary of such party
          delivered to GFC and remain in full force and effect as of the
          Effective Date, (B) that the charter of such party has not been
          amended or otherwise modified since the date of the most recent
          certification thereof by the Secretary of State of such party's
          jurisdiction of incorporation delivered to GFC and remain in full
          force and effect as of the Effective Date and (C) that the execution,
          delivery and performance of this Amendment have been duly authorized
          by all necessary or proper corporate and shareholder action; and

              iii.  such additional documentation as GFC may reasonably request;
          and

          b.  No law, regulation, order, judgment or decree of any Governmental
     Authority shall, and GFC shall not have received any notice that litigation
     is pending or threatened which is likely to, enjoin, prohibit or restrain
     the consummation of the transactions contemplated by this Amendment, except
     for such laws, regulations, orders or decrees, or pending or threatened
     litigation, that in the aggregate could not reasonably be expected to have
     a Material Adverse Effect.

     4.  Reference to and Effect on the Receivables Transfer Agreement.
         -------------------------------------------------------------

          a.  Upon the Effective Date, each reference to the Receivables
     Transfer Agreement to "this Agreement", "hereunder", "hereof" or words of
     like import, shall mean and be a reference to the Receivables Transfer
     Agreement as amended and supplemented hereby.

          b.  Except to the extent specifically set forth herein, the provisions
     of the Receivables Transfer Agreement shall not be amended, modified,
     waived, impaired or otherwise affected hereby, and the Receivables Transfer
     Agreement and the Obligations under the Receivables Transfer Agreement are
     hereby confirmed as being in full force and effect.

          c.  This Amendment shall be limited solely to the matters expressly
     set forth herein and shall not (i) constitute an amendment or waiver of any
     other term or condition of the Receivables Transfer Agreement or any other
     document, (ii) prejudice any right or rights which GFC may now have or may
     have in the future under or in connection with the Receivables Transfer
     Agreement or any other document, (iii) require GFC to agree to a similar
     transaction on a future occasion or (iv) create any right herein to another
     Person or other beneficiary or otherwise, except to the extent specifically
     provided herein.

     5.  Section Titles and Headings.  The Section titles in this Amendment
         ---------------------------
are and shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreement between the parties hereto. The headings
herein are for convenience of reference only and shall not alter or otherwise
affect the meaning hereof.

     6.  Counterparts.  This Amendment may be executed in any number of
         ------------
counterparts and by the different parties hereto in separate counterparts, each
of which when so executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument.

                                       3
<PAGE>

     7.  GOVERNING LAW.  THIS AMENDMENT, AND ALL MATTERS OF CONSTRUCTION,
         -------------
VALIDITY AND PERFORMANCE HEREOF, SHALL BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     8.  No Strict Construction.  The parties hereto have participated jointly
         ----------------------
in the negotiation and drafting of this Amendment.  In the event an ambiguity or
question of intent or interpretation arises, this Amendment shall be construed
as if drafted jointly by the parties hereto and no presumption or burden of
proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Amendment.

                                     * * *

                                       4
<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be executed by their respective officers thereunto duly authorized as of the
date first above written.

                                        CALLAWAY GOLF SALES COMPANY,
                                        as CGS Originator and as Servicer

                                        By:  /s/ Kenneth Wolf
                                           ----------------------------------
                                             Name:  Kenneth Wolf
                                             Title: Vice President and Chief
                                                    Financial Officer

                                        GOLF FUNDING CORPORATION

                                        By:  /s/ Kenneth Wolf
                                           ----------------------------------
                                             Name:  Kenneth Wolf
                                             Title: Vice President and Chief
                                                    Financial Officer

                                        CALLAWAY GOLF COMPANY,
                                        as Parent Guarantor

                                        By:  /s/ Kenneth Wolf
                                           ----------------------------------
                                             Name:  Kenneth Wolf
                                             Title: Vice President and Chief
                                                    Financial Officer

                                        ACKNOWLEDGED AND AGREED:
                                        -----------------------

                                        GENERAL ELECTRIC CAPITAL CORPORATION,
                                        as Collateral Agent and Operating Agent

                                        By:  /s/ Craig Winslow
                                           ----------------------------------
                                             Name:   Craig Winslow
                                             Title:  Authorized Signatory

                                        REDWOOD RECEIVABLES CORPORATION,
                                        as Purchaser

                                        By:  /s/ Denis M. Creedon
                                           ----------------------------------
                                             Name:  Denis M. Creedon
                                             Title: Assistant Secretary

                                       5EXHIBIT 10.43

                          STEEL BEACH PRODUCTIONS, INC.

                        CONTRACT FOR MULTIMEDIA SERVICES

This contract is entered into on the 29th day of February,  2000 (the "Effective
Date"), by and between Surgical Safety Products,  Incorporated ("SSP") and Steel
Beach  Productions,  Incorporated  ("STEEL  BEACH")  for the  purpose of design,
development,  implementation,  and  testing of the OASiS  Version  3.0 web based
application as more fully described  below.  This contract  replaces two earlier
agreements,  specifically, one agreement for Version 2.0 dated December 30, 1999
in the amount of $37,800 in cash and $37,800 in stock options, and one agreement
for  Version  3.0 dated  December  30, 1999 in the amount of $42,250 in cash and
$42,250 in stock options.  All efforts expended by Steel Beach Productions under
these two contracts will be compensated under the terms of this agreement.

Article One:         CONTRACT DESCRIPTION/PRODUCT SPECIFICATIONS

2.         Project  Overview:  STEEL BEACH will develop the OASiS Version 3.0 in
           accordance with the specifications and architecture  formats provided
           by SSP.  Specifically,  the  overall  application  will be written in
           Macromedia  Authorware  and/or  Director  with a  portal  for  XML to
           accommodate non high-speed access users.  Database  requirements will
           be handled  by SEQUEL.  The  product  will be loaded and tested  from
           SSP's server and multiple  platforms as required.  Project  specifics
           are listed in Article 1.8 below.

3.         The Project Manager and single point of contact for this contract for
           SSP  will be  Eric  Hill,  2018  Oak  Terrace,  Sarasota,  FL  34231,
           941-927-7874, Fax 941-925-0515, e-mail ehill@touchoasis.com.

4.         The Project Manager and single point of contact for this contract for
           STEEL  BEACH will be William  Harrell at 8301  Cypress  Plaza  Drive,
           Suite  100,  Jacksonville,   Florida,  32256,  904-296-2743  (phone),
           904-296-8569, wharrel@steelbeach.com.

5.         A project kickoff meeting and several follow up meetings were held by
           SSP and STEEL BEACH to finalize content and product specifications.

6.         At the project  kickoff  meeting,  SSP provided STEEL BEACH the OASiS
           Version 2.0  software  for  upgrading  to Version  3.0. SSP also made
           available a test portion on SSP  Inservice  Server for  field-testing
           and functionality testing purposes.

<PAGE>

7.         SSP user access is via a T-1 or T-2 connection.

8.         SSP shall provide a subject  matter expert (SME)  throughout the term
           of this  contract  to answer any  technical  questions  at no cost to
           Steel Beach.  The SME shall be available for questions  during normal
           working hours (8:00am to 5:00pm EST) at the SSP office in Sarasota or
           will be available via pager.

9.         The V3.0  project to be  completed  by Steel Beach is detailed in the
           "OASiS  Clinical  Internetwork  V3.0 - Functional  Outline - Hospital
           Network  Only" dated  02/01/00,  as provided by OASiS to Steel Beach.
           Specifically, Steel Beach will:

          -  Populate V3.0 with content from 30 in-service  currently
             in V2.0. No changes to content.

          - Create one V3.0 in-service module from new material under
            the guidance of the OASiS subject matter expert.

          - Enhance schematics of V3.0 modules as needed from V2.0 flat files to
            2D

          - Insert QTVR 10 second videos into eight V3.0 in-service modules

          - Add interactive multimedia such as light indicators as needed

          - Insert video clips for twelve V3.0 in-service modules

          - Design a new interface for V3.0

          - Design,  create a develop a virtual  trade  show  feature
            with a minimum of two trade show booth looks

1.        A Prototype product shall be developed by STEEL BEACH and will consist
          of:

          - one fully functional V3.0 in-service module, and

          - an example of the product interface and the twelve categories

OASiS shall review and approve the  Prototype,  or provide  written  comments to
STEEL BEACH as described in Article Seven, Product Review and Approval Process.

2.         The Preliminary Product shall consist of:

          - 24 fully functional V3.0 in-service modules, and

          - the full functionality of all twelve categories,  and the
            population of 75% of these categories with content.

OASiS shall  review and  approve  the  Preliminary  product,  or proved  written
comments  to STEEL  BEACH as  described  in Article  Seven,  Product  Review and
Approval Process.

<PAGE>

3.         STEEL BEACH shall  incorporate  any changes  that are  presented,  in
           writing,  by SSP  according to the  following  criteria:  STEEL BEACH
           shall incorporate changes that are within the scope of this effort at
           no  additional  charge.  Any request for changes that are  considered
           out-of-scope,  will not be incorporated  until a telephone meeting is
           held to (1) review the out-  of-scope  requests,  and (2) resolve the
           request for out-of-scope  changes.  Out-of-scope  change requests may
           require additional compensation by SSP to STEEL BEACH.

4.         STEEL BEACH shall test the Final  Product  once all the changes  have
           been  incorporated into the OASiS Version 3.0 program and provide the
           Final Product to SSP on March 30, 2000.

5.         SSP shall  review  and accept  the Final  Product or provide  written
           request  for  changes  to  STEEL  BEACH.  Upon  incorporation  of all
           in-scope changes, the Final Product shall be approved by SSP.

6.         Once the Final Product is approved by OASiS,  Steel Beach will return
           the 31 in-service modules used to develop this product to OASiS. This
           will free up storage space in Steel Beach's  offices for the next set
           of in-service module kits to be received and produced.

Article Two:         CONTRACT TERM:

2.1        Contractual  services  may  begin  upon the date of full execution of
           this contract by SSP and STEEL BEACH.

2.2        The contract  will be terminated  upon deliver and  acceptance of the
           final  product by STEEL BEACH to SSP and receipt of all  payments for
           invoices presented by STEEL BEACH to SSP.

Article Three:                 CONTRACT CONSIDERATION:

3.1       The  total  consideration  for  all  contractual   services  shall  be
          $80,050.00 in cash and $80,050.00  worth of stock options in SSP Stock
          Options determined as follows:  The common stock option number will be
          calculated  based on the average  closing share price (ACSP) in the 20
          days of trading  prior to deliver of the final  product.  The exercise
          price will be 50% of the 20 day average closing price as quoted on the
          OTCBB listing. The number of options issued will be calculated by this
          formula: 2 x $80,050 / ACSP. The options have a term of five years and
          conform  to  the  standard  SSP  consultant  option  policy  as far as
          additional  terms and details.  The Stock  Options  shall be issued to
          STEEL BEACH at the time of acceptance of the Final Product.  This is a
          firm-fixed   fee   contract   with   progress   payments  for  product
          deliverables as described herein.

3.2        A 25% deposit  ($20,012.50)  is due with the signing of the contract.
           Deposits in the amount of  $20,012.50  have been received and applied
           to this requirement.

3.3       Progress  payment  pursuant to this contract will be made as described
          below:

3.3.1      Payment for Prototype - $25,012.50

3.3.2      Payment for Preliminary Product - $27,025.00

3.3.3      Payment for Final Product - $8,000.00

<PAGE>

3.4        Payment will be handled by submission of invoice by STEEL BEACH to G.
           Michael Swor at SSP at 2018 Oak Terrace,  Sarasota, FL 34231 for each
           deliverable described in Articles One and Three. All payments are NET
           10-day terms from receipt of deliverable  with  accompanying  invoice
           presented  by STEEL BEACH to SSP.  Interest  shall accrue at 1.5% per
           month for late invoice payments.

3.5        A proposed  Product  Development  Schedule for  deliverables  will be
           submitted by STEEL BEACH to SSP. The preliminary  development  effort
           is estimated at 90 days fro the project kickoff meeting. Both parties
           shall agree, in writing,  to the schedule developed by STEEL BEACH ad
           presented to SSP.

Article Four:                  PROPRIETARY INTEREST:

Anything, by whatsoever designation it may be known, that is produced,  created,
or  developed  in  connection  with this  contract  shall  remain the  exclusive
property  of  the  SSP  and  may  not be  copyrighted,  patented,  or  otherwise
restricted  pursuant  to state or federal law or  regulation.  Neither the STEEL
BEACH nor any other  individual  employed  under  this  contract  shall have any
proprietary  interest in any product,  system or program produced,  created,  or
developed,  pursuant to this  contract.  STEEL BEACH will,  however,  retain the
proprietary  rights to anything to which such rights had  attached  prior to the
execution of this contract.

Article Five:                  INDEPENDENT CONTRACTOR

STEEL BEACH shall perform and render their services as an independent contractor
and not as an  agent,  representative,  or  employee  of SSP.  All the  services
described  herein will be performed by STEEL BEACH in a proper and  satisfactory
manner as determined by SSP in its reasonable sole discretion.

Article Six:                   COSTS AND EXPENSES:

All costs and  expenses,  of any nature an type that are incurred by STEEL BEACH
while fulfilling the terms of this contract are to be borne by STEEL BEACH. Such
costs are to include, but not be limited to: travel,  lodging,  food, materials,
subcontractors  and their  costs,  shipping,  leasing,  rentals of any  variety,
salary or other benefits.  In no case, other than by amendment of this contract,
shall SSP be  responsible  for any costs beyond  those  allocated in the section
entitled CONTRACT CONSIDERATION above.

Article Seven:                 PRODUCT REVIEW AND APPROVAL PROCESS

SSP shall have ten (10) working days to review and provide  written comment back
to STEEL BEACH on all  deliverables  discussed  in Articles  One and Three.  If,
after a deliverable  by STEEL BEACH to SSP, the latter fails to provide  written
approval or question  the  deliverable  in writing  within ten (10) working days
beyond the deliverable date, STEEL BEACH shall consider the

<PAGE>

deliverable approved and move forward with the remaining contract requirements.

Article Eight:                 CHANGES AND CORRECTIONS:

STEEL BEACH  agrees to make  corrections,  as  suggested  and  warranted by SSP,
within the scope  described in Article  One,  throughout  the contract  process.
However,  substantive  changes  that are  suggested  or  demanded by SSP after a
deliverable  is approved will be considered  "out-of-scope."  Such  out-of-scope
changes that are insisted  upon by SSP may extend the  deliverable  timelines as
set forth  herein in a manner that is  proportional  to the delay  caused by the
out-of-scope  changes.  Similarly,  such  out-of-scope  changes may also require
additional funding.

Article Nine:                  CANCELLATION:

In the event that both  parties  cannot  come to  agreement  on the scope of the
project or resolve  out-of-  scope  issues,  this  contract may be terminated by
either SSP or STEEL  BEACH,  by giving  thirty (30) days  written  notice to the
other  party;  said notice shall be  sufficient  if it is delivered to the party
personally  or mailed by  certified  mail to the  mailing  address as  specified
herein.  In case of  cancellation,  only the costs actually accrued for services
satisfactorily  performed  prior  to the date of  cancellation  shall be due and
payable,  and all work in progress shall remain the property of SSP and shall be
delivered to SSP upon payment of all outstanding invoices to STEEL BEACH.

Article Ten:                   ENTIRE AGREEMENT:

This contract  constitutes the entire agreement of SSP and STEEL BEACH. No other
agreement or  modification  to this  contract,  expressed  or implied,  shall be
binding on either  party  unless  same  shall be in  writing  and signed by both
parties.  This contract may not be orally modified.  Any modification must be in
writing,  expressly  titled  a  modification,  amendment,  or  addendum  to this
contract, attached to this contract, and signed by both parties.

Article Eleven:                FORCE MAJEURE:

Neither  party  shall be liable  for los or damage  suffered  as a result of any
delay  or  failure  in  performance  under  this  contract  or  interruption  of
performance  resulting directly or indirectly from acts of God, civil or miliary
authority, acts of public enemy, war, riots, civil disturbances,  insurrections,
accidents,  fire,  explosions,  floods,  water, wind, lightning strikes or labor
disputes  to the extend  such  events are beyond the  reasonable  control of the
party claiming excuse from liability  resulting  therefrom.  If a "force majeure
event" does occur, the parties agree to negotiate an extension of te contract as
appropriate.

Article Twelve:                LIABILITY:

In no event shall SSP or STEEL BEACH liable for any suit or claim for damages or
other relief resulting from the acts of the other party.

<PAGE>

Article Thirteen:              PRIORITY:

STEEL BEACH represent that all services required pursuant to this contract shall
be given first and immediate priority.  Time is of the essence in regards to all
elements of this contract.

Article Fourteen:              RENEWAL:

This contract may be renewed by written agreement of all parties.

Article Fifteen:               ATTORNEYS' FEES:

Except as provided by law,  the parties  agree to be  responsible  for their own
attorneys'  fees  incurred in  connections  with any disputes  arising under the
terms of this contract.

Article Sixteen:               DISPUTES:

This contract shall be governed by and construed in accordance  with the laws of
Florida.

Article Seventeen:             SEVERABILITY:

The invalidity or unenforceability of any particular  provision of this contract
shall  not  affect  the  other  provisions  hereof  and this  contract  shall be
construed in all respects as if such invalid or  unenforceable  provision(s) was
omitted.

Article Eighteen:              NOTICES:

All notice to be provided  pursuant to this  contract  are to be provided to the
parties by directing it to the person and address set forth below:

<PAGE>

           WITH  THEIR  SIGNATURES,  the  parties  agree to all the  provisions,
special  and  general,  and all other  terms and  conditions  of this  contract.
Florida law governs this contract.

/s/ G.  Micheal Swor
--------------------------------------
Surgical Safety Products, Inc.

2/29/2000
-------------------------------------
Date

/s/ Robert L.  Kenny
--------------------------------------
Robert L. Kenny
President
Steel Beach Productions, Inc.

2/29/2000
--------------------------------------
Date

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