Document:

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                                                                    Exhibit 10.2

                      EXCHANGEABLE SHARE SUPPORT AGREEMENT

         MEMORANDUM OF AGREEMENT made as of the 11th day of June, 2003.

BETWEEN:           THE HOCKEY COMPANY, a company existing under the laws
                   of the State of Delaware,

                   (hereinafter referred to as "THC");

AND:               THE HOCKEY COMPANY HOLDINGS INC., a corporation
                   existing under the laws of Canada,

                   (hereinafter referred to as "HOLDINGS");

     WHEREAS pursuant to an Agreement and Plan of Merger (the "MERGER
AGREEMENT") dated as of April 2, 2003 by and among THC, Holdings and Hockey
Merger Co., a wholly-owned subsidiary of Holdings, each of the stockholders of
THC will receive in exchange for each share of voting common stock, par value
$.01 per share, one (1) share of non-voting exchangeable common stock, par value
$.01 per share, in THC (the "EXCHANGEABLE SHARES");

     AND WHEREAS the Merger Agreement will become effective concurrently with
the closing of the initial public offering ("IPO") of Holdings by way of a
supplemented PREP prospectus dated June 5, 2003 and is conditional upon the
closing of the IPO;

     AND WHEREAS pursuant to the Merger Agreement, THC and Holdings have agreed
to execute an exchangeable share support agreement substantially in the form of
this agreement;

     NOW THEREFORE in consideration of the respective covenants and agreements
provided in this agreement and for other good and valuable consideration (the
receipt and sufficiency of which are hereby acknowledged), the parties hereto
covenant and agree as follows:

                                    ARTICLE 1

                         DEFINITIONS AND INTERPRETATION

1.1  DEFINED TERMS

     Each term denoted herein by initial capital letters and not otherwise
defined herein shall have the meaning ascribed thereto in the rights,
privileges, restrictions and conditions

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                                      - 2 -

(collectively, the "SHARE PROVISIONS") attaching to the Exchangeable Shares
attached as Exhibit A to the Amended and Restated Certificate of Incorporation
of THC, which is attached as Exhibit A to the Merger Agreement, unless the
context requires otherwise.

1.2  INTERPRETATION NOT AFFECTED BY HEADINGS

     The division of this agreement into Articles, sections and other portions
and the insertion of headings are for convenience of reference only and shall
not affect the construction or interpretation of this agreement. Unless
otherwise indicated, all references to an "Article" or "section" followed by a
number and/or a letter refer to the specified Article or section of this
agreement. The terms "this agreement", "hereof", "herein" and "hereunder" and
similar expressions refer to this agreement and not to any particular Article,
section or other portion hereof and include any agreement or instrument
supplementary or ancillary hereto.

1.3  NUMBER, GENDER

     Words importing the singular number only shall include the plural and VICE
VERSA. Words importing any gender shall include all genders.

1.4  DATE FOR ANY ACTION

     If any date on which any action is required to be taken under this
agreement is not a Business Day, such action shall be required to be taken on
the next succeeding Business Day.

                                    ARTICLE 2

                        COVENANTS OF HOLDINGS AND/OR THC

2.1  COVENANTS REGARDING EXCHANGEABLE SHARES

     So long as any Exchangeable Shares not owned by Holdings or its Affiliates
are outstanding,

     (a)  THC will, subject to all applicable laws, only declare and pay a
          dividend on the Exchangeable Shares concurrently with, and in an
          amount equal to (on a per share basis), any dividend declared and paid
          by Holdings on the Holdings Common Shares, and Holdings will not
          declare and pay a dividend on the Holdings Common Shares if no
          dividend can be declared and paid on the Exchangeable Shares;

     (b)  Holdings will take all such actions and do all such things as are
          reasonably necessary or desirable to enable and permit Holdings, in
          accordance with applicable law, to perform its obligations arising
          upon the exercise by a holder of Exchangeable Shares of the Put Right,
          including without limitation, all such actions and all such things as
          are necessary or desirable to enable and permit Holdings to deliver or
          cause to be delivered Holdings Common Shares to holders of
          Exchangeable Shares in accordance with the provisions of the Put
          Right; and

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                                      - 3 -

     (c)  Holdings will take all actions and do all such things as are necessary
          or desirable to enable and permit Holdings, in accordance with
          applicable law, to perform its obligations arising upon the exercise
          by Holdings of the Call Right, including without limitation, all such
          actions and all such things as are necessary or desirable to enable
          and permit Holdings to deliver or cause to be delivered Holdings
          Common Shares to holders of Exchangeable Shares in accordance with the
          provisions of the Call Right.

2.2  RESERVATION OF HOLDINGS COMMON SHARES

     Holdings hereby represents, warrants and covenants in favour of THC that
Holdings has reserved for issuance and will, at all times while any Exchangeable
Shares (other than Exchangeable Shares held by Holdings or its Affiliates) are
outstanding, keep available, free from pre-emptive and other rights, out of its
authorized and unissued share capital such number of Holdings Common Shares (or
other shares or securities into which Holdings Common Shares may be reclassified
or changed as contemplated by Section 2.8 hereof) (a) as is equal to the number
of Holdings Common Shares issuable upon the exercise from time to time of the
Put Right and/or Call Right, and (b) as are now and may hereafter be required to
enable and permit Holdings to meet its obligations under any other security or
commitment pursuant to which Holdings may now or hereafter be required to issue
Holdings Common Shares.

2.3  NOTIFICATION OF CERTAIN EVENTS

     In order to assist Holdings to comply with its obligations hereunder, THC
will notify Holdings as soon as practicable upon the issuance by THC of any
Exchangeable Shares or rights to acquire Exchangeable Shares (other than the
issuance of Exchangeable Shares and rights to acquire Exchangeable Shares in
exchange for outstanding securities of THC pursuant to the Merger Agreement).

     In order to assist THC to comply with its obligations hereunder, Holdings
will notify THC as soon as possible upon a proposed declaration by Holdings of
any dividend on the Holdings Common Shares and take all such other actions as
are reasonably necessary, in cooperation with THC, to ensure that the respective
declaration date, record date and payment date for a dividend on the Holdings
Common Shares shall be the same as the declaration date, record date and payment
date for the corresponding dividend on the Exchangeable Shares, subject to all
applicable laws.

2.4  DELIVERY OF HOLDINGS COMMON SHARES

     In furtherance of its obligations under Sections 2.1(b), and (c) hereof,
Holdings shall, subject to all applicable laws and regulatory or stock exchange
requirements, forthwith issue and deliver or cause to be delivered to holders of
Exchangeable Shares the requisite number of Holdings Common Shares to be
received by, and issued to or to the order of, the former holder of the
Exchangeable Shares following the exercise of the Put Right and/or Call Right,
as they shall direct. All such Holdings Common Shares shall be duly authorized
and validly issued as fully paid and non-assessable and shall be free and clear
of any lien, claim or encumbrance.

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2.5  QUALIFICATION OF HOLDINGS COMMON SHARES

     If any Holdings Common Shares (or other shares or securities into which
Holdings Common Shares may be reclassified or changed as contemplated by Section
2.8 hereof) to be issued and delivered hereunder require registration or
qualification with or approval of or the filing of any document, including any
prospectus or similar document or the taking of any proceeding with or the
obtaining of any order, ruling or consent from any governmental or regulatory
authority under any Canadian or United States federal, provincial or state
securities or other law or regulation or pursuant to the rules and regulations
of any securities or other regulatory authority or the fulfilment of any other
United States or Canadian legal requirement before such shares (or such other
shares or securities) may be issued by Holdings and delivered or cause to be
delivered by Holdings to a holder of Exchangeable Shares following the exercise
of the Put Right and/or Call Right in order that such shares (or such other
shares or securities) may be freely traded thereafter (other than any
restrictions of general application on transfer by reason of a holder being a
"control person" for purposes of Canadian provincial securities law or an
"affiliate" of Holdings for purposes of United States federal or state
securities law equivalent), Holdings will in good faith expeditiously take all
such reasonable actions and do all such reasonable things as are necessary or
desirable to cause such Holdings Common Shares (or such other shares or
securities) to be and remain duly registered, qualified or approved under United
States and/or Canadian law, as the case may be, do all such things as are
reasonably necessary or desirable to cause all Holdings Common Shares (or such
other shares or securities) to be delivered hereunder to be listed, quoted or
posted for trading on all stock exchanges and quotation systems on which
outstanding Holdings Common Shares (or such other shares or securities) have
been listed by Holdings and remain listed and quoted or posted for trading,
provided that nothing herein shall require Holdings to file a registration
statement with the Securities and Exchange Commission in order to register the
Holdings Common Shares to be delivered to the U.S. holders of Exchangeable
Shares and have such registration statement declared effective prior to the date
which is six (6) months after the closing of the IPO.

2.6  TENDER OFFERS

     In the event that a tender offer, share exchange offer, issuer bid,
take-over bid or similar transaction with respect to the Holdings Common Shares
(an "OFFER") is proposed by Holdings or is proposed to Holdings or its
shareholders and is recommended by the Board of Directors of Holdings, or is
otherwise effected or to be effected with the consent or approval of the Board
of Directors of Holdings, Holdings will use its reasonable best efforts
expeditiously and in good faith to take all such actions and do all such things
as are necessary or desirable to enable and permit holders of Exchangeable
Shares to participate in such Offer to the same extent and on an economically
equivalent basis as the holders of Holdings Common Shares, without
discrimination. Without limiting the generality of the foregoing, Holdings will
use its reasonable best efforts expeditiously and in good faith to ensure that
holders of Exchangeable Shares may participate in all such Offers without being
required to exercise the Put Right (or, if so required, to ensure that any such
exercise of the Put Right shall be effective only upon, and shall be conditional
upon, the closing of the Offer and only to the extent necessary to tender or
deposit to the Offer).

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                                      - 5 -

2.7  HOLDINGS AND AFFILIATES NOT TO VOTE EXCHANGEABLE SHARES

     Holdings covenants and agrees that it will appoint and cause to be
appointed proxyholders with respect to all Exchangeable Shares held by it and
its Affiliates for the sole purpose of attending each meeting of holders of
Exchangeable Shares in order to be counted as part of the quorum for each such
meeting. Holdings further covenants and agrees that it will not, and will cause
its Affiliates not to, exercise any voting rights which may be exercisable by
holders of Exchangeable Shares from time to time pursuant to the Share
Provisions or pursuant to the provisions of the laws of the State of Delaware
(or any successor or other corporate statute by which THC may in the future be
governed) with respect to any Exchangeable Shares held by it or by its
Affiliates in respect of any matter considered at any meeting of holders of
Exchangeable Shares.

2.8  CHANGES IN HOLDINGS COMMON SHARES

     So long as any Exchangeable Shares not owned by Holdings or its Affiliates
are outstanding, Holdings will not, without the prior approval of THC and the
prior approval of the holders of the Exchangeable Shares given in accordance
with the Share Provisions:

     (a)  subdivide, redivide or change the then outstanding Holdings Common
          Shares into a greater number of Holdings Common Shares;

     (b)  reduce, combine, consolidate or change the then outstanding Holdings
          Common Shares into a lesser number of Holdings Common Shares; or

     (c)  reclassify or otherwise change the Holdings Common Shares or effect an
          amalgamation, merger, reorganization or other transaction affecting
          the Holdings Common Shares,

     unless the same or an economically equivalent change shall simultaneously
     be made to, or in, the rights of the holders of the Exchangeable Shares.

2.9  LIQUIDATION OF THC AND/OR HOLDINGS

     So long as any Exchangeable Shares not owned by Holdings or its Affiliates
are outstanding, neither THC nor Holdings shall take any action in order to
liquidate, dissolve or wind-up (a "VOLUNTARY LIQUIDATION") or proceed with any
Voluntary Liquidation, unless the other company concurrently takes action to
Voluntary Liquidate or proceeds with a Voluntary Liquidation.

2.10 NUMBER OF OUTSTANDING COMMON STOCK

     So long as any Exchangeable Shares not owned by Holdings or its Affiliates
are outstanding, upon any issuance by Holdings of Holdings Common Shares upon
the exercise or conversion of any options, warrants or similar securities,
Holdings will concurrently subscribe for, and THC will concurrently issue to
Holdings, one (1) share of Common Stock for each Holdings Common Share so
issued. The consideration payable by Holdings to THC for the

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                                      - 6 -

issuance of the Common Stock shall be equal to the consideration received
by Holdings for the issuance of the Common Shares, unless otherwise determined
and agreed to in good faith by the Board of Directors of Holdings and THC.

                                    ARTICLE 3

                               HOLDINGS SUCCESSORS

3.1  CERTAIN REQUIREMENTS IN RESPECT OF COMBINATION, ETC.

     Holdings shall not consummate any transaction (whether by way of
reconstruction, reorganization, consolidation, merger, transfer, sale, lease or
otherwise) whereby all or substantially all of its undertaking, property and
assets would become the property of any other person or, in the case of a
merger, of the continuing corporation resulting therefrom unless:

     (a)  such other person or continuing corporation (the "HOLDINGS SUCCESSOR")
          by operation of law, becomes, without more, bound by the terms and
          provisions of this agreement or, if not so bound, executes, prior to
          or contemporaneously with the consummation of such transaction, an
          agreement supplemental hereto and such other instruments (if any) as
          are reasonably necessary or advisable to evidence the assumption by
          the Holdings Successor of liability for all moneys payable and
          property deliverable hereunder and the covenant of such Holdings
          Successor to pay and deliver or cause to be delivered the same and its
          agreement to observe and perform all the covenants and obligations of
          Holdings under this agreement; and

     (b)  such transaction shall be upon such terms and conditions as
          substantially to preserve and not to impair in any material respect
          any of the rights, duties, powers and authorities of the other parties
          hereunder and the holders of the Exchangeable Shares.

3.2  VESTING OF POWERS IN SUCCESSOR

     Whenever the conditions of Section 3.1 have been duly observed and
performed, the parties, if required by Section 3.1, shall execute and deliver a
supplemental agreement hereto and thereupon Holdings Successor shall possess and
from time to time may exercise each and every right and power of Holdings under
this agreement in the name of Holdings or otherwise and any act or proceeding by
any provision of this agreement required to be done or performed by the Board of
Directors of Holdings or any officers of Holdings may be done and performed with
like force and effect by the directors or officers of such Holdings Successor.

3.3  WHOLLY-OWNED SUBSIDIARIES

     Nothing herein shall be construed as preventing the amalgamation or merger
of any wholly-owned direct or indirect subsidiary of Holdings with or into
Holdings or the winding-up, liquidation or dissolution of any wholly-owned
subsidiary of Holdings provided that all of the

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                                      - 7 -

assets of such subsidiary are transferred to Holdings or another
wholly-owned direct or indirect subsidiary of Holdings and any such transactions
are expressly permitted by this agreement.

                                    ARTICLE 4

                                     GENERAL

4.1  TERM

     This agreement shall come into force and be effective as of the date hereof
and shall terminate and be of no further force and effect at such time as no
Exchangeable Share (or securities or rights convertible into or exchangeable for
or carrying rights to acquire Exchangeable Shares) are held by any person or
entity other than Holdings and any of its Affiliates.

4.2  CHANGES IN CAPITAL OF HOLDINGS AND/OR THC

     At all times after the occurrence of any event contemplated pursuant to
Section 2.8 hereof or otherwise, as a result of which either Holdings Common
Shares or the Exchangeable Shares or both are in any way changed, this agreement
shall forthwith be amended and modified as necessary in order that it shall
apply with full force and effect, mutatis mutandis, to all new securities into
which Holdings Common Shares or the Exchangeable Shares or both are so changed
and the parties hereto shall execute and deliver an agreement in writing giving
effect to and evidencing such necessary amendments and modifications.

4.3  SEVERABILITY

     If any provision of this agreement is held to be invalid, illegal or
unenforceable, the validity, legality or enforceability of the remainder of this
agreement shall not in any way be affected or impaired thereby and this
agreement shall be carried out as nearly as possible in accordance with its
original terms and conditions.

4.4  AMENDMENTS, MODIFICATIONS

     This agreement may not be amended or modified except by an agreement in
writing executed by THC and Holdings and approved by the holders of the
Exchangeable Shares in accordance with the Share Provisions and all applicable
laws.

4.5  MINISTERIAL AMENDMENTS

     Notwithstanding the provisions of Section 4.4, the parties to this
agreement may in writing at any time and from time to time, without the approval
of the holders of the Exchangeable Shares, amend or modify this agreement for
the purposes of:

     (a)  adding to the covenants of any or all parties provided that the Board
          of Directors of each of THC and Holdings shall be of the good faith
          opinion that such

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                                      - 8 -

          additions will not be prejudicial to the rights or interests of the
          holders of the Exchangeable Shares;

     (b)  making such amendments or modifications not inconsistent with this
          agreement as may be necessary or desirable with respect to matters or
          questions which, in the good faith opinion of the Board of Directors
          of each of THC and Holdings, it may be expedient to make, provided
          that each such Board of Directors shall be of the good faith opinion
          (after consultation with counsel) that such amendments or
          modifications will not be prejudicial to the rights or interests of
          the holders of the Exchangeable Shares; or

     (c)  making such changes or corrections which, on the advice of counsel to
          THC and Holdings, are required for the purpose of curing or correcting
          any ambiguity or defect or inconsistent provision or clerical omission
          or mistake or manifest error, provided that the Boards of Directors of
          each of THC and Holdings shall be of the good faith opinion (after
          consultation with counsel) that such changes or corrections will not
          be prejudicial to the rights or interests of the holders of the
          Exchangeable Shares.

4.6  MEETING TO CONSIDER AMENDMENTS

     THC, at the request of Holdings, shall call a meeting or meetings of the
holders of the Exchangeable Shares for the purpose of considering any proposed
amendment or modification requiring approval pursuant to Section 4.4 hereof. Any
such meeting or meetings shall be called and held in accordance with the by-laws
of THC, the Share Provisions and all applicable laws.

4.7  AMENDMENTS ONLY IN WRITING

     No amendment to or modification or waiver of any of the provisions of this
agreement otherwise permitted hereunder shall be effective unless made in
writing and signed by all of the parties hereto.

4.8  ENUREMENT

     This agreement shall be binding upon and enure to the benefit of the
parties hereto and their respective successors and assigns.

4.9  NOTICES TO PARTIES

     All notices and other communications required or permitted to be delivered
to a party under this agreement shall be in writing and shall be deemed to have
been properly delivered, given or received (a) upon receipt when delivered by
hand or (b) two Business Days after being sent by registered mail or by courier
or express delivery service or by facsimile, provided that in each case the
notice or communication is sent to the address or facsimile telephone number set
forth beneath the name of such party below:

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     (a)     if to THC:

                        The Hockey Company
                        3500 de Maisonneuve Blvd. West
                        Suite 800
                        Montreal, Quebec
                        H3Z 3C1

                        Fax:        (514) 932-6020
                        Attention:  Matthew H. O'Toole, President and CEO

     (b)     if to Holdings:

                        The Hockey Company Holdings Inc.
                        3500 de Maisonneuve Blvd. West
                        Suite 800
                        Montreal, Quebec
                        H3Z 3C1

                        Fax:        (514) 932-6020
                        Attention:  Matthew H. O'Toole, President and CEO

4.10 COUNTERPARTS

     This agreement may be executed in counterparts, each of which shall be
deemed an original, and all of which taken together shall constitute one and the
same instrument.

4.11 JURISDICTION

     This agreement shall be construed and enforced in accordance with the laws
of the Province of Quebec and the laws of Canada applicable therein.

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     IN WITNESS WHEREOF, the parties hereto have caused this agreement to be
duly executed as of the date first above written.

                           THE HOCKEY COMPANY

                           Per:  /s/ Robert A. Desrosiers
                              --------------------------------------------------
                              Name:  Robert A. Desrosiers
                              Title: Chief Financial Officer and Vice President,
                                     Finance and Administration

                           THE HOCKEY COMPANY HOLDINGS INC.

                           Per:  /s/ Robert A. Desrosiers
                              --------------------------------------------------
                              Name:  Robert A. Desrosiers
                              Title: Chief Financial Officer and Vice President,
                                     Finance and Administration<PAGE>

                                                                    Exhibit 10.3

                                 March 28, 2003

FEDERAL EXPRESS

Mr. Matthew H. O'Toole
President and Chief Executive Officer
The Hockey Company
3500 Blvd. de Maisonneuve Ouest
Suite 800
Westmount, Quebec  H3Z 3C1
Canada

                  Re:  NHL LICENSE FOR AUTHENTIC JERSEYS FOR 30
                       TEAMS AND OTHER PRODUCTS - 2004-2014

Dear Matt:

This letter agreement (together with the exhibits attached hereto, the
"AGREEMENT") will confirm the agreement and understanding between NHL
Enterprises, L.P., NHL Enterprises Canada, L.P. and NHL Enterprises B.V., on the
one hand (collectively, "NHLE"), and Sport Maska Inc., Maska U.S., Inc., Jofa
AB, KHF Finland Oy (the preceding four parties being hereinafter referred to
collectively as "THC"), The Hockey Company, and, subject to Paragraph B.1.d
below, The Hockey Company Holdings Inc. ("HOLDINGS"), on the other hand, with
respect to the license agreement for the Term (as defined below) for authentic
and replica jerseys and certain other products (the "LICENSE"). NHL Enterprises,
L.P. and NHL Enterprises Canada, L.P. shall hereinafter be referred to
individually as "NHLE US" and "NHLE CANADA," respectively. All amounts set forth
herein are in United States dollars.

A.  THC PUBLIC OFFERING.

1.  In the event that Holdings undertakes a public offering of its securities
(the "THC PUBLIC OFFERING") and the THC Public Offering closes before September
1, 2003 (the date of such closing being hereinafter referred to as the "CLOSING
DATE"), then:

<PAGE>

Mr. Matthew H. O'Toole                 2                          March 28, 2003

     a.   Within three (3) business days following the Closing Date, THC shall
          pay to NHLE a fee of thirty million dollars ($30,000,000) (the "LONG
          TERM CONTRACT COMMITMENT FEE"), which payment shall be made via wire
          transfer in immediately available funds to the following accounts,
          unless specified otherwise in writing by NHLE:

          i.   THC shall pay * million dollars ($ * ) to:

               Account Name:    NHL Enterprises, L.P.
               Bank:             *
               Address:          *
                                 *
               ABA number:       *
               Account number:   *

          ii.  THC shall pay  *  million dollars ($ * ) to:

               Account Name:    NHL Enterprises Canada, L.P.
               Bank:             *
               Address:          *
                                 *
                                 *
               Bank I.D.:        *
               Branch:           *
               Account number:   *

     b.   The Letter Agreement, dated February 15, 2001, as amended, between
          NHLE and THC regarding an NHL license for authentic jerseys for 30
          teams and other products, together with the exhibits attached thereto
          (the "2001 LICENSE"), shall be deemed to be terminated in all respects
          and be of no further force or effect as of June 30, 2004; PROVIDED
          that THC shall have paid to NHLE the Long Term Contract Commitment Fee
          in accordance with Paragraph A.1.a above; PROVIDED FURTHER, that the
          indemnification and other provisions of the 2001 License which by
          their terms survive termination or expiration of the 2001 License
          shall survive such termination and shall remain in full force and
          effect and be binding on THC and its successors (such obligations
          being hereinafter

<PAGE>

Mr. Matthew H. O'Toole                 3                          March 28, 2003

          referred to as the "2001 CONTINUING OBLIGATIONS"). THC hereby
          acknowledges and agrees that the 2001 Continuing Obligations shall be
          deemed for all purposes to be obligations under this Agreement and the
          2001 Continuing Obligations shall be due as provided under the 2001
          License.

          Further, in accordance with the terms of the 2001 License, no later
          than fifteen (15) days prior to the expiry date of the letter of
          credit required under the 2001 License and issued in favor of NHLE US,
          on behalf of NHLE, and existing as the date hereof (the "EXISTING
          LETTER OF CREDIT"), THC shall cause to be delivered to NHLE a letter
          of credit (the "REPLACEMENT LETTER OF CREDIT") in replacement of the
          Existing Letter of Credit. THC hereby agrees that the Replacement
          Letter of Credit shall be issued to NHLE US, on behalf of NHLE, by a
          bank reasonably acceptable to NHLE and having a corresponding branch
          in Montreal, New York or Toronto, and agrees that the terms of the
          Replacement Letter of Credit shall contain the provisions required by
          the 2001 License and shall also provide for an expiry date of no
          earlier than June 30, 2004. NHLE hereby agrees that, provided that THC
          shall have paid to NHLE the Long Term Contract Commitment Fee in
          accordance with Paragraph A.1.a above and shall have delivered to NHLE
          the Letter of Credit in accordance with Paragraph B.6.d below and
          EXHIBIT K attached hereto, on the Commencement Date (as defined in
          Paragraph B.2 below), NHLE shall execute and deliver to THC's bank a
          notice of termination of the Replacement Letter of Credit.

     c.   Upon THC's payment to NHLE of the Long Term Contract Commitment Fee in
          accordance with Paragraph A.1.a above, Section B of this Agreement
          shall become effective.

2.  In lieu of undertaking the THC Public Offering, THC may, with the prior
written consent of NHLE, pay the Long Term Contract Commitment Fee from other
sources available to it. First, THC must provide NHLE with written notice, not
later than September 1, 2003, specifying its plans for payment from such other
sources. NHLE shall then have twenty (20) days from receipt of such notice to
provide or withhold in writing its consent to THC's plans. During this

<PAGE>

Mr. Matthew H. O'Toole                 4                          March 28, 2003

thirty-day period, THC shall promptly provide NHLE with any reasonably requested
information or documentation relating to its plans. If NHLE provides its
consent, THC shall then pay the Long Term Contract Commitment Fee to NHLE in
accordance with Paragraph A.1.a above by the later of twenty (20) days following
the date of THC's receipt of such consent and September 30, 2003, in which event
such payment shall, for all purposes of this Agreement, be deemed to be payment
of the Long Term Contract Commitment Fee.

3.  For clarity, failure by THC to deliver the Letter of Credit in accordance
with the terms of Paragraph B.6.d of this Agreement and Exhibit K attached
hereto shall entitle NHLE, upon five (5) days prior written notice, to draw the
full remaining balance of the Existing Letter of Credit or Replacement Letter of
Credit, as the case may be.

B.   LICENSE.

1.   GRANT OF RIGHTS.

     a.   NHLE shall grant to THC an exclusive license, except where indicated
          on EXHIBIT A attached hereto that the license for a particular product
          is not exclusive, to manufacture, sell and market certain NHLE
          products (the "PRODUCTS") under several different brand names, all as
          described in such EXHIBIT A, subject to and in accordance with the
          terms set forth herein, including without limitation the terms of
          NHLE's Standard Terms and Conditions as set forth on EXHIBIT B
          attached hereto (the "STANDARD TERMS AND CONDITIONS").

     b.   The terms of the letter agreement, dated May 11, 2000 (a copy of which
          is attached hereto as EXHIBIT C), between the parties regarding logo
          placement and size, shall remain in effect through the Term; PROVIDED,
          HOWEVER, that THC shall have the right, subject to receipt of NHLE's
          written approval, twice during the Term to rebrand the jersey Products
          using a hockey-related brand controlled by THC.

<PAGE>

Mr. Matthew H. O'Toole                 5                          March 28, 2003

     c.   To the extent that any of the rights set forth in clauses (i), (ii) or
          (iii) below (the "ADDITIONAL RIGHTS") become available during the Term
          through the expiration or termination of NHLE's agreement for such
          rights with another supplier, and if NHLE is not contemplating
          renewing such agreement with such supplier, NHLE shall notify THC of
          such fact, and upon THC's request, NHLE shall negotiate in good faith
          with THC for at least thirty (30) days to conclude an agreement for
          such rights. The Additional Rights are: (i)  * ; (ii)  * ; and
          (iii)  * .

     d.   Sport Maska Inc., Maska U.S., Inc., Jofa AB, KHF Finland Oy, The
          Hockey Company and The Hockey Company Holdings Inc. shall be jointly
          and severally liable for the obligations of THC under the License and
          this Agreement; PROVIDED, HOWEVER, that in the event that the THC
          Public Offering does not close before September 1, 2003, The Hockey
          Company Holdings Inc. shall cease to be a party to this Agreement and
          shall have no liability hereunder.

2.  TERM. The term ("Term") of the License and this Agreement shall be from July
1, 2004 (the "Commencement Date") through June 30, 2014, or as may be extended
in accordance with Paragraph B.17 below. Notwithstanding the foregoing, if THC
shall not have paid the Long Term Contract Commitment Fee to NHLE in accordance
with Paragraph A.1 or A.2 above, the License and this Agreement shall be null
and void, with no further force and effect, in which event the 2001 License
shall remain in effect and continue in accordance with the terms thereof. Each
period from July 1 of a particular year of the Term though June 30 of the next
succeeding year of the Term shall hereinafter be referred to as a "License
Year."

3.  TERRITORY. Worldwide.

4.  TEAM ALLOCATION. All 30 NHL member teams.

5.  ROYALTIES. THC shall pay to NHLE as royalties the percentages (each such
percentage, a "ROYALTY RATE") of Net Sales (as such term is defined in Section
2(g) of the Standard Terms and Conditions) set forth below for the following
Product groups (as such Product groups are defined on EXHIBIT A attached hereto)
and

<PAGE>

Mr. Matthew H. O'Toole                 6                          March 28, 2003

the following time periods. A list of Royalty Rates by individual Product is
set forth in SCHEDULE 1 TO EXHIBIT A:

     a.   for the period from July 1, 2004 through June 30, 2008:

          i.     Authentic jersey Products and Center Ice Products:  * %
          ii.    Replica jersey Products:  * %
          iii.   Named/Numbered Jerseys:   * %
          iv.    Licensed Blank Jerseys:   * %
          v.     player-identified Fan Apparel and Vintage Apparel: a royalty
                 rate (the "NHLPA ROYALTY RATE") equal to * , but not less
                 than  * %
          vi.    all other Products:  * %

     b.   for the period from July 1, 2008 through June 30, 2010:

          i.     Authentic jersey Products and Center Ice Products:  * %
          ii.    Replica jersey Products:  * %
          iii.   Named/Numbered Jerseys:   * %
          iv.    Licensed Blank Jerseys:   * %
          v.     player-identified Fan Apparel and Vintage Apparel:  * ,
                 but not less than  * %
          vi.    all other Products:  * %

     c.   for the period from July 1, 2010 through June 30, 2014:

          i.     Authentic jersey Products and Center Ice Products:  * %
          ii.    Replica jersey Products:  * %
          iii.   Named/Numbered Jerseys:   * %
          iv.    Licensed Blank Jerseys:   * %
          v.     player-identified Fan Apparel and Vintage Apparel:  * , but
                 not less than  * %
          vi.    all other Products:  * %

THC shall submit royalty reports for sales of all Products for each month during
the Term by the 20th day of the following month, in accordance with Section 4 of
the Standard Terms and Conditions, together with Royalty Payments (as

<PAGE>

Mr. Matthew H. O'Toole                 7                          March 28, 2003

defined in Section 2(h) of the Standard Terms and Conditions) for sales of
Licensed Blank Jerseys. Except as provided in Paragraph B.6.f below, THC shall
not be obligated to make monthly Royalty Payments on sales of Products other
than Licensed Blank Jerseys.

6.  ADDITIONAL LICENSE FEE, CASH ROYALTY GUARANTEES AND EARNED ROYALTIES. THC
shall pay the following amounts to NHLE on or before the dates set forth below
and shall be subject to the following terms and conditions:

     a.   An additional license fee of $ *  (the "ADDITIONAL LICENSE FEE"),
          which shall be in addition to, and shall not be credited towards, the
          Cash Royalty Guarantees (as defined below) or any other obligations of
          THC under this Agreement. THC shall pay the Additional License Fee in
          the following annual amounts, which in each case shall be delivered in
          twelve (12) equal installments on the first day of each month of the
          applicable License Year, commencing with the first such payments for
          the 2004-2005 License Year due and payable on July 1, 2004:

          i.     for the 2004-2005 License Year:  $ *  to NHLE US and
                 $ *  to NHLE Canada;
          ii.    for the 2005-2006 License Year:  $ *  to NHLE US and
                 $ *  to NHLE Canada;
          iii.   for the 2006-2007 License Year:  $ *  to NHLE US and
                 $ *  to NHLE Canada;
          iv.    for the 2007-2008 License Year:  $ *  to NHLE US and
                 $ *  to NHLE Canada;
          v.     for the 2008-2009 License Year:  $ *  to NHLE US and
                 $ *  to NHLE Canada; and
          vi.    for the 2009-2010 License Year:  $ *  to NHLE US and
                 $ *  to NHLE Canada.

     b.   [Intentionally omitted.]

     c.   As set forth on EXHIBIT E attached hereto, a guaranteed minimum
          payment for each License Year (the "CASH ROYALTY GUARANTEE"). THC
          shall pay the Cash Royalty Guarantee in twelve (12) equal

<PAGE>

Mr. Matthew H. O'Toole                 8                          March 28, 2003

          installments on the first day of each month of the applicable License
          Year, commencing with the first such payment for the 2004-2005 License
          Year due and payable on July 1, 2004;

     d.   As partial security for THC's obligation to pay the Cash Royalty
          Guarantees, the Additional License Fee and the 2001 Continuing
          Obligations, THC shall deliver to NHLE US on or prior to June 10, 2004
          an irrevocable standby letter of credit for the benefit of NHLE US, on
          behalf of NHLE, in the amount of $ *  million, issued by a bank
          reasonably acceptable to NHLE and having a corresponding branch in
          Montreal, New York or Toronto, in a form acceptable to and previously
          approved by NHLE and THC's bank (as defined on EXHIBIT K attached
          hereto, the "LETTER OF CREDIT"). The terms of the Letter of Credit and
          the rights and obligations of the parties in connection therewith are
          set forth on EXHIBIT K attached hereto;

     e.   For each License Year, royalties earned on Net Sales (as defined in
          EXHIBIT B hereto) (such royalties on Net Sales being hereafter
          referred to as "EARNED ROYALTIES") during such License Year for all
          Products except Licensed Blank Jerseys shall be credited towards the
          Cash Royalty Guarantee due for such License Year. No other amounts
          shall be credited towards the Cash Royalty Guarantees due hereunder.
          For clarity, Earned Royalties for Licensed Blank Jerseys shall not be
          credited towards the Cash Royalty Guarantees and shall be paid to NHLE
          as Royalty Payments on a monthly basis, as provided in Paragraph B.5
          above and in accordance with Section 4 of the Standard Terms and
          Conditions;

     f.   For each License Year, all Earned Royalties for all Products except
          Licensed Blank Jerseys which shall be in excess of the amount set
          forth below for such License Year (each such amount, a "ROYALTY
          TARGET"), which excess Earned Royalties shall be paid to NHLE within
          thirty (30) days following the end of the applicable License Year.
          Earned Royalties in excess of the Royalty Target for a particular
          License Year shall be in addition to, and shall not be credited
          towards, the Cash Royalty Guarantees or any other

<PAGE>

Mr. Matthew H. O'Toole                 9                          March 28, 2003

          obligations of THC under this Agreement. The Royalty Target for each
          License Year shall be as follows:

          i.     for the 2004-2005 License Year:    $   *
          ii.    for the 2005-2006 License Year:    $   *
          iii.   for the 2006-2007 License Year:    $   *
          iv.    for the 2007-2008 License Year:    $   *
          v.     for the 2008-2009 License Year:    $   *
          vi.    for the 2009-2010 License Year:    $   *
          vii.   for the 2010-2011 License Year:    $   *
          viii.  for the 2011-2012 License Year:    $   *
          ix.    for the 2012-2013 License Year:    $   *
          x.     for the 2013-2014 License Year:    $   *

          For clarity, except as provided in Paragraph B.17, in no event shall
          Earned Royalties accruing in a License Year for all Products except
          Licensed Blank Jerseys be payable under this Agreement if the amount
          thereof is equal to or less than the amount of the Royalty Target with
          respect to such License Year.

     g.   Notwithstanding anything to the contrary contained elsewhere herein,
          none of the following payments or amounts, to be paid by THC to NHLE
          or to be paid by THC to the NHL teams or to be spent by THC, shall be
          subject to offset, reduction or repayment by or to THC for any reason:

          i.   the Long Term Contract Commitment Fee, as provided in Paragraph
               A.1.a, which payment shall be fully earned upon receipt by NHLE;

          ii.  the Additional License Fee, as provided in Paragraph B.6.a;

          iii. the Cash Royalty Guarantees, as provided in Paragraph B.6.c,
               except that such payments may be reduced, among other things,
               solely in accordance with Paragraphs B.16 or B.17 of the
               Agreement, or Section 11(a)(vi) of EXHIBIT B attached hereto, or
               offset and reduced solely in accordance with Section 11(f) of
               EXHIBIT B;

<PAGE>

Mr. Matthew H. O'Toole                 10                         March 28, 2003

          iv.  Earned Royalties for Licensed Blank Jerseys, as provided in
               Paragraph B.6.e, except that such payments may be offset and
               reduced solely in accordance with Section 11(f) of EXHIBIT B;

          v.   for a particular License Year, Earned Royalties for all Products
               except Licensed Blank Jerseys in excess of the Royalty Target for
               such License Year, as provided in Paragraph B.6.f, except that
               such payments may be offset and reduced solely in accordance with
               Section 11(f) of EXHIBIT B;

          vi.  the $ *  funding for the NHL/THC Design Center, as provided in
               Paragraph B.7, except that the parties may consider a reduction
               of such amount in accordance with Paragraph B.7;

          vii. the $ *  credit for NHLE's purchase of THC Products, as
               provided in Paragraph B.12.c.ii;

          viii. the  *  Fee and the  *  Fee, as provided in Paragraph
                * , except that such payments may be offset and reduced
               solely in accordance with Section 11(f) of EXHIBIT B;

          ix.  the League Marketing Commitment, as provided in Paragraph B.8,
               except that such spending may be reduced, among other things,
               solely in accordance with Paragraphs B.16 or B.17 of the
               Agreement, or Section 11(a)(vi) of EXHIBIT B;

          x.   the Team Marketing Commitments, as provided in Paragraph B.9,
               except that such payment may be reduced, among other things,
               solely in accordance with Paragraphs B.16 or B.17 of the
               Agreement, or Section 11(a)(vi) of EXHIBIT B.

7. NHL/THC DESIGN CENTER. As soon as practicable following the Closing Date, and
at its own expense and in consultation with NHLE, THC shall create and operate
for the duration of the Term an NHL/THC Design Center, which shall work on
product design and innovation. THC shall staff the NHL/THC Design Center with at
least five (5) product and graphic designers. The NHL/THC Design Center will
offer design services to the NHL teams at discount rates. For the period from
July 1, 2004 through June 30, 2006, THC will spend a

<PAGE>

Mr. Matthew H. O'Toole                 11                         March 28, 2003

minimum of $ *  to fund the NHL/THC Design Center, which amount shall be in
addition to, and shall not be credited towards, the Cash Royalty Guarantees or
any other obligations of THC under this Agreement; PROVIDED, HOWEVER, that the
parties will consider a reduction of such amount in the event that during a
particular License Year there occur any Missed Games (as defined below). Any
trademark, copyright or other property rights arising from any creation and/or
design of NHL Indicia (as defined in Section 2(k) of EXHIBIT B attached hereto)
by employees or independent contractors of the NHL/THC Design Center, regardless
of whether such designs are actually used on Licensed Products, shall be
governed by the Standard Terms and Conditions, including but not limited to
Sections 3(k) and 3(l).

8.  GENERAL LEAGUE MARKETING COMMITMENT. During each License Year, THC shall
spend a minimum of $ *  on NHL marketing (which, for these purposes, shall
mean media and production purchases and/or subsidization of NHL retail
activation programs for the purpose of growing consumer sales of THC's
NHLE-licensed products), as mutually agreed upon by NHLE and THC (the "LEAGUE
MARKETING COMMITMENT"). The League Marketing Commitment shall be in addition to,
and shall not be credited towards, the Cash Royalty Guarantees or any other
obligations of THC under this Agreement.

9.  TEAM MARKETING COMMITMENTS. During each License Year, THC shall spend the
amounts set forth below with each NHL team on team marketing (each, a "TEAM
MARKETING COMMITMENT"). The Team Marketing Commitments shall be in addition to,
and shall not be credited towards, the Cash Royalty Guarantees or any other
obligations of THC under this Agreement.  * . The Team Marketing Commitments
for each License Year on an aggregate and a per-team basis are as follows:

     a.   for the 2004-2005 License Year: $ *  million/$ *  per team
     b.   for the 2005-2006 License Year: $ *  million/$ *  per team
     c.   for the 2006-2007 License Year: $ *  million/$ *  per team
     d.   for the 2007-2008 License Year: $ *  million/$ *  per team
     e.   for the 2008-2009 License Year: $ *  million/$ *  per team
     f.   for the 2009-2010 License Year: $ *  million/$ *  per team
     g.   for the 2010-2011 License Year: $ *  million/$ *  per team
     h.   for the 2011-2012 License Year: $ *  million/$ *  per team

<PAGE>

Mr. Matthew H. O'Toole                 12                         March 28, 2003

     i.   for the 2012-2013 License Year: $ *  million/$ *  per team
     j.   for the 2013-2014 License Year: $ *  million/$ *  per team

THC shall negotiate with each team a marketing agreement covering the marketing
assets to be delivered in consideration for the Team Marketing Commitment for a
particular License Year. Such team marketing assets will be valued at the team's
then-prevailing rates (which shall mean, with respect to each such asset, the
best price at which THC would be able to purchase such asset, on a stand-alone
basis and not as part of a package, on the open market through THC's media
buying agency).

To the extent that, after it has negotiated in good faith with a particular
team, THC fails to agree on the marketing assets to be delivered to THC for a
particular License Year, THC may elect to "rollover" to one or more future
License Years the team's delivery of the marketing assets; PROVIDED, HOWEVER,
that THC's marketing agreement with such team must specify the marketing assets
to be delivered in such future License Years; PROVIDED FURTHER that THC may not
"rollover" to a future License Year its delivery of the Team Marketing
Commitment (I.E., THC must deliver the  *  to the team in each License Year).
Any marketing assets "rolled over" to a particular License Year shall be in
addition to the marketing assets otherwise required to be delivered for such
License Year.

To the extent that, after it has negotiated in good faith with a particular
team, THC fails to agree on the "rollover" of marketing assets for a particular
License Year, NHLE will, upon written request from THC, work with THC and the
team to reach agreement. In the extraordinary circumstance that, after working
with NHLE, THC remains unable to reach agreement with the team, NHLE will
deliver NHLE-controlled marketing assets to THC to make up the difference
between the marketing assets provided by the team and the Team Marketing
Commitment for such License Year; PROVIDED, HOWEVER, that NHLE shall not be
required to deliver in the aggregate more than $ *  in value of
NHLE-controlled marketing assets in any one License Year, regardless of the
number of teams with which THC has failed to reach agreement; PROVIDED FURTHER
that NHLE-controlled inventory shall be valued at NHLE's then-prevailing rates
(which shall mean, with respect to each such asset, the best price at which THC
would be

<PAGE>

Mr. Matthew H. O'Toole                 13                         March 28, 2003

able to purchase such asset, on a stand-alone basis and not as part of
a package, on the open market through THC's media buying agency).

10. [Intentionally omitted.]

11. PRODUCT PRODUCTION AND DELIVERY, AND MAINTENANCE OF PRODUCT INVENTORIES. For
each License Year, THC shall meet the Product production deadlines set forth on
EXHIBIT F attached hereto and the Product delivery deadlines set forth on
EXHIBIT G attached hereto, and shall maintain the Product inventories set forth
on EXHIBIT H attached hereto, subject to the conditions set forth in each such
exhibit. Notwithstanding anything to the contrary contained elsewhere herein,
during the last six (6) months of the last License Year of the Term, unless NHLE
and THC have agreed in writing that the License will be renewed or extended, THC
shall manufacture only such quantities of the Products which are to be sold at
retail as are reasonably necessary to fulfill orders for delivery to be made
during such last License Year.

12.  * .

     a.   During the Term, THC shall be the exclusive supplier on-ice of
          practice jerseys and of jerseys and pants/shells for NHL on-ice
          officials (I.E., referees and linesmen), which products shall be
          produced under the Jofa brand name, and of Vintage jerseys, which
          Products shall be produced under the CCM brand name. Notwithstanding
          the foregoing, THC shall have the right, subject to receipt of NHLE's
          written approval, once during the Term to rebrand the above on-ice
          officials products using a hockey-related brand controlled by THC.

     b.   THC agrees that during the Term THC will supply equipment to the NHL
          teams on terms consistent with the past practice of THC and the teams,
          including with respect to favorable pricing and delivery.

     c.   i.     NHLE shall grant THC the following rights to supply NHL players
                 during NHL games with on-ice equipment bearing THC brand names
                 ("ON-ICE RIGHTS"). For each License Year of the Term, THC shall
                 have On-Ice Rights in the equipment

<PAGE>

Mr. Matthew H. O'Toole                 14                         March 28, 2003

                 categories listed below (the "DESIGNATED EQUIPMENT CATEGORIES")
                 for the THC brand names designated below or the name of any THC
                 sub-brand incorporating such brand names (the "DESIGNATED BRAND
                 NAMES"). THC shall have the right, subject to receipt of NHLE's
                 written approval, for any License Year to replace any
                 Designated Brand Name with another hockey equipment brand name
                 controlled by THC. The fee for the On-Ice Rights shall be * .
                 In addition to the terms set forth in this Paragraph B.12.c,
                 the On-Ice Rights will be subject to the terms set forth on
                 EXHIBIT J attached hereto. On-Ice Rights for any other
                 equipment (I.E., other than equipment in the Designated
                 Equipment Categories bearing the Designated Brand Names, or a
                 replacement therefor as provided above) will be subject to a
                 separate fee and the execution of a separate agreement. The
                 Designated Equipment Categories are: gloves, goalie masks,
                 goalie equipment, goalie/player pants, shin pads, shoulder
                 pads, elbow pads, helmets, visors, hockey sticks and skates.
                 The Designated Brand Names are: CCM, Canadien, Heaton, Jofa,
                 Koho and Titan.

          ii.    * THC shall provide NHLE during each License Year of the Term
                 with a $ * credit for the purchase of THC products at THC's
                 wholesale price * , which credit is listed in Section 2.a of
                 EXHIBIT G attached hereto. Such credit shall be in addition to,
                 and shall not be credited towards, the Cash Royalty Guarantees
                 or any other obligations of THC under this Agreement.

     d.   *

     e.   *

     f.   *

<PAGE>

Mr. Matthew H. O'Toole                 15                         March 28, 2003

13. NHLE STOCK OPTIONS. Within fifteen (15) days following the execution of this
Agreement, NHLE US shall enter into an option agreement (the "NHLE OPTION
AGREEMENT"), in form and substance reasonably satisfactory to NHLE, with
Holdings, pursuant to which Holdings shall, subject to the receipt of any
Canadian regulatory approval which may be required, on the date thereof, grant
to NHLE US or its designee options to purchase seventy-five thousand (75,000)
common shares of Holdings the "NHLE OPTIONS" on the following general terms:

     a.   Each NHLE Option shall be exercisable, at a price equal to the price
          first offered to the public in the THC Public Offering, for one (1)
          common share of Holdings.

     b.   The NHLE Options shall vest in five (5) equal annual installments
          beginning on the one-year anniversary of the date of grant.

     c.   All unexercised NHLE Options, whether or not vested, shall terminate
          immediately upon the termination of this Agreement by either party
          pursuant to the terms of the Agreement.

     d.   The NHLE Options shall expire on the last day of the Term.

     e.   If any change is made to the common stock of Holdings (whether by
          stock dividend, stock split or reverse stock split, or otherwise),
          then THC shall preserve the value of the shares issuable upon exercise
          of the NHLE Options by adjusting the number of shares issuable per
          each NHLE Option to reflect such change to the common stock of
          Holdings and by making appropriate adjustments to the exercise price
          of the NHLE Options.

     f.   Upon a change of control (as defined in the NHLE Option Agreement),
          the board of directors of Holdings shall determine whether all
          unvested NHLE Options shall vest on an accelerated schedule; PROVIDED
          that if unvested options to purchase common shares of Holdings that
          have been granted to any other party shall vest on an accelerated
          schedule upon such change of control, then the board of directors of
          Holdings shall determine that all

<PAGE>

Mr. Matthew H. O'Toole                 16                         March 28, 2003

          unvested NHLE Options shall vest on the same accelerated schedule.

In the event that Holdings does not receive any required regulatory approval and
is therefore not able to grant the NHLE Options to NHLE, the parties shall
negotiate in good faith to agree to replace THC's obligations under this
Paragraph B.13 with other obligations of comparable value.

14. QUALITY CONTROL, ETC. The Products and their manufacture, sale and
marketing, as well as certain other terms and conditions, shall be subject to
the Standard Terms and Conditions.

15. CHANGE OF CONTROL.

     a.   THC shall, in the event of a proposed Change of Control (as defined
          below), request the prior written consent of NHLE, which consent shall
          not be unreasonably withheld. NHLE shall, within ten (10) business
          days of its receipt of a written request for such consent, either: (i)
          grant such consent in writing; or (ii) provide written reasons
          explaining its refusal to grant such consent. In the event that THC or
          the entity acquiring control is unable, within a reasonable period of
          time, to address such written reasons to the satisfaction of NHLE,
          acting reasonably, and the Change of Control is consummated, NHLE may
          terminate this Agreement and the License immediately upon delivery of
          notice to THC.

     b.   "CHANGE OF CONTROL" shall mean: (i) any assignment, transfer or
          sublicense, other than any sublicense otherwise permitted under the
          terms of this Agreement, of the rights and obligations of THC under
          this Agreement and the License to any third party other than a
          subsidiary controlled by THC (such Change of Control also referred to
          herein as an "ASSIGNMENT"); or (ii) except in connection with the THC
          Public Offering, any transaction or series of transactions or any
          reorganization or similar event that results in any entity or person
          other than an entity or person presently having Effective Control (as
          defined below), including without limitation Wellspring Capital
          Management LLC, (x) acquiring more

<PAGE>

Mr. Matthew H. O'Toole                 17                         March 28, 2003

          than 50% of the equity interest, voting power or economic interest of
          THC, (y) otherwise acquiring effective control of THC, whether by
          contract, operation of law or otherwise (the items in this clause (y)
          collectively, "EFFECTIVE CONTROL"), or (z) acquiring a substantial
          portion of the operating assets of THC necessary to carry on its
          business as presently conducted. For clarity, an Assignment of less
          than all of the rights and obligations under this Agreement and the
          License shall not be permitted.

     c.   NHLE agrees that it shall act in good faith in making its
          determination under this Paragraph B.15 and may withhold consent to
          any Change of Control only if:

          i.   the reputation of the proposed assignee, transferee, sublicensee,
               pledgee or purchaser, as the case may be (any such person being
               herein referred to as the "PROPOSED PARTY"), within the Proposed
               Party's business or industry, and, in the case of an Assignment,
               including the Proposed Party's reputation for offering quality
               and reliable services, is such that it would adversely affect the
               reputation of NHLE; or

          ii.  the financial condition of the Proposed Party is such that it may
               materially impair the ability of THC to fulfill its obligations
               under this Agreement and the License, as reasonably determined by
               NHLE; or

          iii. in the case of an Assignment, the Proposed Party does not have
               the ability to fulfill the obligations of THC under this
               Agreement and the License as assigned, transferred or sublicensed
               to the Proposed Party.

          Notwithstanding the foregoing, THC shall not engage in or permit to
          occur a Change of Control if the Proposed Party, or any principal
          owner or any director, member of senior management, executive, or
          officer of the Proposed Party, (i) has publicly documented connections
          to legal or illegal gambling activity, (ii) has been convicted in a
          criminal action, or (iii) is listed on the side letter

<PAGE>

Mr. Matthew H. O'Toole                 18                         March 28, 2003

          delivered to THC by NHLE on the date hereof regarding prohibited
          Proposed Parties.

     d.   In the event that NHLE withholds its consent to a proposed Change of
          Control and a dispute arises as to whether such withholding of consent
          was permitted under this Paragraph B.15, THC may elect to have such
          dispute settled on an expedited basis by binding arbitration. In such
          an event, THC shall send written notice to NHLE of its desire to
          arbitrate, and NHLE and THC shall jointly select an arbitrator. If an
          arbitrator is not selected within ten (10) days after NHLE's receipt
          of such notice from THC, the American Arbitration Association in New
          York, New York shall select the arbitrator. The arbitrator shall have
          financial and marketing expertise in sports marketing and licensing.
          The arbitration shall take place in New York, New York. The arbitrator
          shall adopt the rules and procedures for commercial arbitration of the
          American Arbitration Association. The arbitrator shall endeavor to
          render a final decision within thirty (30) days of the selection of
          the arbitrator. The arbitrator shall award to the prevailing party its
          fees and expenses, including reasonable attorneys' fees. The
          arbitrator's judgment shall be final and binding on the parties.
          Judgment on the arbitrator's award may be entered in any court having
          jurisdiction. In the event that THC does not elect to have such
          dispute settled by binding arbitration, THC may proceed with any other
          legal remedies it may have.

     e.   In the event that THC assigns, transfers or sublicenses its rights and
          obligations under this Agreement and the License to a subsidiary
          controlled by THC, which act does not qualify as a Change of Control
          in accordance with Paragraph B.15.b above, THC shall guarantee the
          performance by such subsidiary of the obligations under this Agreement
          and shall remain secondarily liable therefor.

16. EXPANSION/CONTRACTION.

     a.   If the NHL expands by adding additional teams, certain financial

<PAGE>

Mr. Matthew H. O'Toole                 19                         March 28, 2003

          obligations of THC shall be increased for the remainder of the Term,
          commencing with the License Year in which the expansion takes effect,
          as set forth below:

          i.   The annual Cash Royalty Guarantee and League Marketing Commitment
               shall be increased by an amount equal to * percent ( * %) of the
               pro rata amount of such obligation calculated on a per-team
               basis, multiplied by the number of additional teams. The annual
               Royalty Target will be increased by * for the corresponding
               License Year. For clarity, if the NHL were to expand by one team
               for the 2004-2005 License Year, then the Cash Royalty Guarantee
               for such License Year would be increased by an amount equal to
               * % of the quotient of such Cash Royalty Guarantee and the number
               of previously existing NHL teams, multiplied by the number of
               additional teams: $ * /30 x * x 1 = $ * . The increase in the
               League Marketing Commitment for the 2004-2005 License Year would
               be: $ * /30 x * x 1 = $ * . The increase in the Royalty Target
               for the 2004-2005 License Year would be: $ * ; and

          ii.  The aggregate annual Team Marketing Commitment shall be increased
               by an amount equal to * percent (* %) of the pro rata amount of
               such obligation calculated on a per-team basis, multiplied by the
               number of additional teams. For clarity, if the NHL were to
               expand by two teams for the 2004-2005 License Year, then the
               aggregate annual Team Marketing Commitment for such License Year
               would be increased by an amount equal to * % of the quotient of
               the Team Marketing Commitment and the number of previously
               existing NHL teams, multiplied by the number of additional teams:
               $ * /30 x * x 2 = $ * .

     b.   If the NHL contracts by terminating existing teams, the annual Cash
          Royalty Guarantee, Royalty Target, League Marketing Commitment and
          Team Marketing Commitments for the remainder of the Term shall be
          reduced, commencing with the License Year in which the contraction
          takes effect, by amounts consistent with the

<PAGE>

Mr. Matthew H. O'Toole                 20                         March 28, 2003

          expansion increases provided in Paragraph B.16.a above.

17. WORK STOPPAGE.

     a.   If by April 1, 2004, or by April 1 of any particular License Year (the
          License Year in which such April 1 occurs, the "PRE-WORK STOPPAGE
          LICENSE YEAR"), the NHL and the NHLPA have not entered into a
          Collective Bargaining Agreement or other arrangement (a "CBA")
          covering the following NHL season (the License Year corresponding to
          such following NHL season, the "WORK STOPPAGE LICENSE YEAR"), then:

          i.   the Cash Royalty Guarantee and the Royalty Target for the Work
               Stoppage License Year shall each be reduced to * ;

          ii.  THC shall pay to NHLE US on behalf of NHLE, or in accordance with
               NHLE's instructions, Earned Royalties for all Products for the
               Work Stoppage License Year on a monthly basis during such Work
               Stoppage License Year simultaneously with THC's submission of the
               monthly statements required under Section 4 of EXHIBIT B attached
               hereto; and

          iii. The Term shall be extended automatically for an additional
               License Year (an "ADDITIONAL LICENSE YEAR"), unless THC elects to
               forego the Additional License Year by delivery of written notice
               to NHLE prior to June 1 of the Pre-Work Stoppage License Year.
               The Additional License Year shall be subject to the same terms
               and conditions as those that apply to the immediately preceding
               License Year, except that:

               A.   the Cash Royalty Guarantee for the Additional License Year
                    shall be increased by * percent ( * %), and shall be
                    paid to NHLE US and NHLE Canada in the same

<PAGE>

Mr. Matthew H. O'Toole                 21                         March 28, 2003

                    proportion as for the immediately preceding License Year;
                    and

               B.   the Royalty Target for the Additional License Year shall be
                    the sum of the Cash Royalty Guarantee and $ * .

     b.   Regardless of when (or whether) a CBA covering a particular NHL season
          is entered into, if any scheduled regular season NHL games are not
          played during such season as the result of a player strike, management
          lockout or comparable work stoppage league-wide (such games not
          played, the "MISSED GAMES," and the License Year corresponding to such
          season, the "WORK STOPPAGE LICENSE YEAR") and if such Missed Games
          amount to * percent ( * %) or more of the scheduled NHL regular season
          for the Work Stoppage License Year, then:

          i.   the Cash Royalty Guarantee and the Royalty Target for the Work
               Stoppage License Year shall each be reduced to * ;

          ii.  THC shall pay to NHLE US on behalf of NHLE, or in accordance with
               NHLE's instructions, Earned Royalties for all Products for the
               Work Stoppage License Year on a monthly basis during such Work
               Stoppage License Year simultaneously with THC's submission of the
               monthly statements required under Section 4 of EXHIBIT B attached
               hereto; and

          iii. The Term shall be extended automatically for an Additional
               License Year, unless THC elects to forego the Additional License
               Year by delivery of written notice to NHLE within sixty (60) days
               following the occurrence of Missed Games amounting to more than
               * percent ( * %) of the scheduled NHL regular season for the Work
               Stoppage License Year. The Additional License Year shall be
               subject to the same terms and conditions as those that apply to
               the immediately preceding License Year, except that:

<PAGE>

Mr. Matthew H. O'Toole                 22                         March 28, 2003

               A.   the Cash Royalty Guarantee for the Additional License Year
                    shall be increased by * percent ( * %), and shall be paid to
                    NHLE US and NHLE Canada in the same proportion as for the
                    immediately preceding License Year; and

               B.   the Royalty Target for the Additional License Year shall be
                    the sum of Cash Royalty Guarantee for the Additional License
                    Year and $ * .

          iv.  if such Missed Games amount to * percent ( * %) or more of the
               scheduled NHL regular season for the Work Stoppage License Year,
               the League Marketing Commitment and the Team Marketing Commitment
               for the Work Stoppage License Year shall each be reduced pro
               rata, I.E., by an amount equal to such League Marketing
               Commitment or Team Marketing Commitment, as applicable,
               multiplied by a fraction, the numerator of which shall be the
               number of Missed Games, and the denominator of which shall be the
               total number of NHL regular season games originally scheduled for
               the Work Stoppage License Year. For clarity, neither the League
               Marketing Commitment, nor the Team Marketing Commitment nor the
               team marketing assets to be delivered as consideration therefor,
               shall be reduced if Missed Games amount to less than * percent
               (* %) of the scheduled NHL regular season for the Work Stoppage
               License Year. For purposes of illustration, if there occur 246
               Missed Games during the 2004-2005 NHL season (and the total
               number of scheduled regular season games for such season is
               1230), then the aggregate Team Marketing Commitment for such
               License Year would be: $ * - ($ * x 246/1230) = $ *. The League
               Marketing Commitment for such License Year would be: $ * - ($ * x
               246/1230) = $ * ; and

<PAGE>

Mr. Matthew H. O'Toole                 23                         March 28, 2003

          v.   if such Missed Games amount to more than * percent ( * %) of the
               scheduled NHL regular season for the Work Stoppage License Year,
               NHLE will prohibit the introduction of NHL team uniform changes
               for the following NHL season, unless NHLE and THC agree
               otherwise.

     c.   For clarity, the provisions of Paragraphs B.17.a and B.17.b shall
          operate to reduce only those obligations of THC which are set forth
          therein and only for the License Year indicated therein, and shall not
          affect any other obligations of THC for such License Year or any
          obligations of THC for any other License Year.

     d.   Notwithstanding the foregoing, if there occur in the Work Stoppage
          License Year Missed Games amounting to an extensive portion of the
          scheduled NHL regular season for the Work Stoppage License Year, THC
          and NHLE will discuss in good faith whether and to what extent the
          requirements for deliveries of Products to the NHL teams in accordance
          with EXHIBIT G attached hereto should be reduced for the License Year
          following the Work Stoppage License Year; PROVIDED, HOWEVER, that if
          the NHL teams do not hold training camp in the Work Stoppage License
          Year, and there occur Missed Games amounting to * percent ( * %) of
          the scheduled NHL regular season for the Work Stoppage License Year,
          and if THC has met its obligations to deliver Product to the NHL teams
          for the Work Stoppage License Year in accordance with EXHIBIT G, THC
          shall not be obligated to deliver such Products for the License Year
          following the Work Stoppage License Year.

18. JOFA PRODUCTS. NHLE hereby grants to THC certain rights to manufacture, sell
and market Jofa hockey equipment using certain NHL trademarks and/or indicia, as
set forth on EXHIBIT L attached hereto.

19. [Intentionally omitted.]

20. CONFIDENTIALITY. Due to the confidential nature of this transaction, no
party will make any announcement or disclosure regarding this transaction

<PAGE>

Mr. Matthew H. O'Toole                 24                         March 28, 2003

(including without limitation the details of the negotiations and the terms of
the transaction and any details in connection with or associated with its
implementation) without the prior written consent of the other, unless and
except as required by applicable law. The foregoing restriction will not apply
to any information that (i) was or since the time of disclosure has become part
of the public domain through no act or failure by the recipient party, (ii) was
already in the possession of any receiving party when initially disclosed, (iii)
is or was received from a third party before or after the time of disclosure (so
long as such information was not disclosed by such third party in violation of
any confidentiality agreement of which the receiving party had knowledge), or
(iv) may be required to be disclosed by law or legal process. Notwithstanding
the foregoing, the parties agree that NHLE may disclose the terms of this
transaction to the NHL and to the NHL teams.

21. [Intentionally omitted.]

22. MISCELLANEOUS.

     a.   To the extent that any conflict exists between the terms of this
          Agreement and the Standard Terms and Conditions, the terms of this
          Agreement shall govern.

     b.   This Agreement shall be governed by the internal laws of the State of
          New York, and the United States District Court for the Southern
          District of New York and the state courts of New York in the county of
          Manhattan shall have exclusive jurisdiction over any issues arising
          out of or relating to this Agreement.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

Mr. Matthew H. O'Toole                 25                         March 28, 2003

If the foregoing accurately sets forth our agreement and understanding, please
so indicate by signing and dating, and returning to us a copy of this Agreement
prior to 5:00 P.M. on March 31, 2003, at which time if not fully executed this
Agreement shall expire and be of no effect.

                                  Sincerely yours,

<TABLE>
<CAPTION>

<S>                                                           <C>
NHL ENTERPRISES, L.P.                                           NHL ENTERPRISES B.V.

By:  NHL Enterprises, Inc., its general partner                 By:  NHL Enterprises, Inc., its Managing Director

By:    /s/  Brian P. Jennings                                   By:     /s/ Brian P. Jennings
     ------------------------------------                            ------------------------------------
     Name:  Brian P. Jennings                                        Name:  Brian P. Jennings
     Title: Group Vice President,                                    Title: Group Vice President,
            Consumer Products Marketing                                     Consumer Products Marketing

NHL ENTERPRISES CANADA, L.P.

By: National Hockey League Enterprises
    Canada, Inc., its general partner

By:    /s/  Brian P. Jennings
     ------------------------------------
     Name:  Brian P. Jennings
     Title: Group Vice President,
            Consumer Products Marketing

AGREED AND ACCEPTED
this 28th day of March, 2003:

SPORT MASKA INC.                                                MASKA U.S., INC.

By:    /s/  Matthew H. O'Toole                                  By:    /s/  Matthew H. O'Toole
     ------------------------------------                            ------------------------------------
     Name:  Matthew H. O'Toole                                       Name:  Matthew H. O'Toole
     Title: President and                                            Title: President and
            Chief Executive Officer                                         Chief Executive Officer

</TABLE>

<PAGE>

Mr. Matthew H. O'Toole                 26                         March 28, 2003

<TABLE>
<CAPTION>

<S>                                                           <C>
JOFA AB                                                         KHF FINLAND OY

By:    /s/  Matthew H. O'Toole                                  By:    /s/  Matthew H. O'Toole
     ------------------------------------                            ------------------------------------
     Name:  Matthew H. O'Toole                                       Name:  Matthew H. O'Toole
     Title: Authorized Signatory                                     Title: Authorized Signatory

THE HOCKEY COMPANY                                              THE HOCKEY COMPANY HOLDINGS, INC.

By:    /s/  Matthew H. O'Toole                                  By:    /s/  Matthew H. O'Toole
     ------------------------------------                            ------------------------------------
     Name:  Matthew H. O'Toole                                       Name:  Matthew H. O'Toole
     Title: President and                                            Title: President and
            Chief Executive Officer                                         Chief Executive Officer
</TABLE>

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