Document:

EXHIBIT 10.2

                          ARC WIRELESS SOLUTIONS, INC.

                            2007 STOCK INCENTIVE PLAN

                         FORM OF STOCK OPTION AGREEMENT

     ARC Wireless Solutions, Inc. (the "Company"), pursuant to its 2007 Stock
Incentive Plan (the "Plan"), hereby grants to Optionee listed below
("Optionee"), an option to purchase the number of shares of the Company's Common
Stock set forth below, subject to the terms and conditions of the Plan and this
Stock Option Agreement. Unless otherwise defined herein, the terms defined in
the Plan shall have the same defined meanings in this Stock Option Agreement.

     1.   NOTICE OF STOCK OPTION GRANT

Optionee:                                  ___________________________________
Date of Stock Option Agreement:            ___________________________________
Date of Grant:                             ___________________________________
Vesting Commencement Date:                 ___________________________________
Exercise Price per Share:                  ___________________________________
Total Number of Option Shares Granted:     ___________________________________
Term/Expiration Date:                      ___________________________________

Type of Option:   [ ] Incentive Stock Option or   [ ] Non-Incentive Stock Option

Vesting Schedule:   The Option Shares subject to this Option shall vest
                    according to the following schedule:

                    __________________________________________________________

                    __________________________________________________________

Termination Period: This Option may be exercised, to the extent vested, for one
                    month after Optionee ceases to be an Eligible Person, or
                    such longer period as may be applicable upon the death or
                    disability of Optionee as provided herein, but in no event
                    later than the Term/Expiration Date as provided above.

     2.   AGREEMENT

          2.1 Grant of Option. The Company hereby grants to Optionee an Option
to purchase the number of shares of Common Stock (the "Option Shares") set forth
in the Notice of Grant, at the exercise price per share set forth in the Notice
of Grant (the "Exercise Price"). Notwithstanding anything to the contrary
anywhere else in this Option Agreement, this grant of an Option is subject to
the terms, definitions, and provisions of the Plan adopted by the Company, which
is incorporated herein by reference.

<PAGE>

          If designated in the Notice of Grant as an Incentive Stock Option,
this Option is intended to qualify as an Incentive Stock Option as defined in
Section 422 of the Code; provided, however, that to the extent that the
aggregate Fair Market Value of stock with respect to which Incentive Stock
Options (within the meaning of Code Section 422, but without regard to Code
Section 422(d)), including the Option, are exercisable for the first time by
Optionee during any calendar year (under the Plan and all other incentive stock
option plans of the Company, if any) exceeds $100,000, such options shall be
treated as not qualifying under Code Section 422, but rather shall be treated as
Non-Incentive Stock Options to the extent required by Code Section 422. The rule
set forth in the preceding sentence shall be applied by taking options into
account in the order in which they were granted. For purposes of these rules,
the Fair Market Value of stock shall be determined as of the time the option
with respect to such stock is granted.

          2.2 Exercise of Option. This Option is exercisable as follows:

          (a) Right to Exercise.

                              i. This Option shall be exercisable cumulatively
                    according to the vesting schedule set out in the Notice of
                    Grant. For purposes of this Stock Option Agreement, Option
                    Shares subject to this Option shall vest based on Optionee's
                    Continuous Status as an Eligible Person.

                              ii. This Option may not be exercised for a
                    fraction of a Share.

                              iii. In the event of Optionee's death, disability
                    or other termination of Optionee's status as an Eligible
                    Person, the exercisability of the Option is governed by
                    Sections 7, 8 and 9 below.

                              iv. In no event may this Option be exercised after
                    the date of expiration of the term of this Option as set
                    forth in the Notice of Grant.

          (b) Method of Exercise. This Option shall be exercisable by written
Notice (in the form attached as Exhibit A). The Notice must state the number of
Option Shares for which the Option is being exercised, and such other
representations and agreements with respect to such Option Shares as may be
required by the Company pursuant to the provisions of the Plan. The Notice must
be signed by Optionee and shall be delivered in person or by certified mail to
the Secretary of the Company. The Notice must be accompanied by payment of the
Exercise Price plus payment of any applicable withholding tax. This Option shall
be deemed to be exercised upon receipt by the Company of such written Notice
accompanied by the Exercise Price and payment of any applicable withholding tax.

<PAGE>

          No Option Shares shall be issued pursuant to the exercise of an Option
unless such issuance and such exercise comply with all relevant provisions of
law and the requirements of any stock exchange upon which the Option Shares may
then be listed. Assuming such compliance, for income tax purposes the Option
Shares shall be considered transferred to Optionee on the date on which the
Option is exercised with respect to such Option Shares.

          2.3 Optionee's Representations. If the Option Shares purchasable
pursuant to the exercise of this Option have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), at the time this
Option is exercised, Optionee shall, if required by the Company, concurrently
with the exercise of all or any portion of this Option, deliver to the Company
his or her Investment Representation Statement in the form attached hereto as
Exhibit B.

          2.4 Lock-Up Period. Optionee hereby agrees that if so requested by the
Company or any representative of the underwriters (the "Managing Underwriter")
in connection with any registration of the offering of any securities of the
Company under the Securities Act, Optionee shall not sell or otherwise transfer
any Option Shares or other securities of the Company during the 180-day period
(or such period as may be requested in writing by the Managing Underwriter and
agreed to in writing by the Company) (the "Market Standoff Period") following
the effective date of a registration statement of the Company filed under the
Securities Act. The Company may impose stop-transfer instructions with respect
to securities subject to the foregoing restrictions until the end of such Market
Standoff Period and these restrictions shall be binding on any transferee of
such Option Shares.

          2.5 Method of Payment. Payment of the Exercise Price shall be by any
of the following, or a combination thereof:

          (a) cash;

          (b) check; or

          (c) with the consent of the Option Committee, any method of payment,
or combination thereof that is permitted in the Plan.

          2.6 Restrictions on Exercise. If the issuance of Option Shares upon
such exercise or if the method of payment for such shares would constitute a
violation of any applicable federal or state securities or other law or
regulation, then the Option may also not be exercised. The Company may require
Optionee to make any representation and warranty to the Company as may be
required by any applicable law or regulation before allowing the Option to be
exercised.

          2.7 Termination of Relationship. If Optionee ceases to be an Eligible
Person (other than by reason of Optionee's death or the total and permanent
disability of Optionee as defined in Code Section 22(e)(3)), Optionee may
exercise this Option, to the extent the Option was vested at the date on which
Optionee ceases to be an Eligible Person, but only within one month from such
date (and in no event later than the expiration date of the term of this Option
set forth in the Notice of Grant). To the extent that the Option is not vested
at the date on which Optionee ceases to be an Eligible Person, or if Optionee
does not exercise this Option within the time specified herein, the Option shall
terminate.

          2.8 Disability of Optionee. If Optionee ceases to be an Eligible
Person as a result of his or her total and permanent disability as defined in
Code Section 22(e)(3), Optionee may exercise the Option to the extent the Option
was vested at the date on which Optionee ceases to be an Eligible Person, but
only within three months from such date (and in no event later than the
expiration date of the term of this Option as set forth in the Notice of Grant).
To the extent that the Option is not vested at the date on which Optionee ceases
to be an Eligible Person, or if Optionee does not exercise such Option within
the time specified herein, the Option shall terminate.

<PAGE>

          2.9 Death of Optionee. If Optionee ceases to be an Eligible Person as
a result of the death of Optionee, the vested portion of the Option may be
exercised at any time within three months following the date of death (and in no
event later than the expiration date of the term of this Option as set forth in
the Notice of Grant) by Optionee's estate or by a person who acquires the right
to exercise the Option by bequest or inheritance. To the extent that the Option
is not vested at the date of death, or if the Option is not exercised within the
time specified herein, the Option shall terminate.

          2.10 Non-Transferability of Option. This Option may not be transferred
in any manner except by will or by the laws of descent or distribution. It may
be exercised during the lifetime of Optionee only by Optionee. The terms of this
Option shall be binding upon the executors, administrators, heirs, successors,
and assigns of Optionee.

          2.11 Term of Option. This Option may be exercised only within the term
set out in the Notice of Grant.

          2.12 Restrictions on Option Shares. Optionee hereby agrees that Option
Shares purchased upon the exercise of the Option shall be subject to such terms
and conditions as the Option Committee shall determine in its sole discretion.
Such terms and conditions may, in the Option Committee's sole discretion, be
contained in the Exercise Notice with respect to the Option or in such other
agreement as the Option Committee shall determine and which the Optionee hereby
agrees to enter into at the request of the Company.

                            (Signature Page Follows)

<PAGE>

          This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original and all of which shall constitute one
document.

                                            ARC WIRELESS SOLUTIONS, INC.

                                            By:________________________________

                                            Name:______________________________

                                            Title:_____________________________

          OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF OPTION SHARES
          PURSUANT TO THE OPTION HEREOF IS EARNED ONLY BY CONTINUING CONSULTANCY
          OR EMPLOYMENT AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING
          HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER).
          OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS
          AGREEMENT, NOR IN THE COMPANY'S 2007 STOCK INCENTIVE PLAN, WHICH IS
          INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON OPTIONEE ANY RIGHT
          WITH RESPECT TO CONTINUATION OF EMPLOYMENT OR CONSULTANCY BY THE
          COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH OPTIONEE'S RIGHT OR
          THE COMPANY'S RIGHT TO TERMINATE OPTIONEE'S EMPLOYMENT OR CONSULTANCY
          AT ANY TIME, WITH OR WITHOUT CAUSE AND WITH OR WITHOUT PRIOR NOTICE,
          UNLESS THE COMPANY AND THE OPTIONEE HAVE AGREED OTHERWISE IN WRITING.

          Optionee acknowledges receipt of a copy of the Plan and represents
that he or she is familiar with the terms and provisions thereof. Optionee
hereby accepts this Option subject to all of the terms and provisions hereof.
Optionee has reviewed the Plan and this Option in their entirety, has had an
opportunity to obtain the advice of counsel prior to executing this Option, and
fully understands all provisions of the Option. Optionee hereby agrees to accept
as binding, conclusive, and final all decisions or interpretations of the Option
Committee upon any questions arising under the Plan or this Option. Optionee
further agrees to notify the Company upon any change in the residence address
indicated below.

Dated: __________________                   ____________________________________

                                            Name: ______________________________
                                            Address: ___________________________
                                            Address: ___________________________

<PAGE>

                                    EXHIBIT A
                                    ---------

                          ARC WIRELESS SOLUTIONS, INC.

                            2007 STOCK INCENTIVE PLAN

                                 EXERCISE NOTICE

ARC Wireless Solutions, Inc.
Attention: Stock Administration

          2.13 Exercise of Option. Effective as of today, ___________, _____,
the undersigned ("Optionee") hereby elects to exercise Optionee's option to
purchase _________ shares of the Common Stock (the "Option Shares") of ARC
Wireless Solutions, Inc. (the "Company") under and pursuant to the Company's
2007 Stock Incentive Plan (the "Plan") and the Stock Option Agreement dated
_____________________ (the "Option Agreement"). Capitalized terms used herein
without definition shall have the meanings given in the Option Agreement.

Date of Grant:                                   ______________________________
Number of Option Shares as to which
Option is Exercised:                             ______________________________
Exercise Price per Share:                        $____________
Total Exercise Price:                            $____________
Certificate to be Issued in Name of:             ______________________________
Cash Payment Delivered Herewith:           [   ] $____________

Type of Option: [ ] Incentive Stock Option   [ ] Non-Qualified Stock Option

          2.14 Representations of Optionee. Optionee acknowledges that Optionee
has received, read, and understood the Plan and the Option Agreement. Optionee
agrees to abide by and be bound by their terms and conditions.

          2.15 Rights as Shareholder. Until the stock certificate evidencing
such Option Shares is issued (as evidenced by the appropriate entry on the books
of the Company or of a duly authorized transfer agent of the Company), no right
to vote or receive dividends or any other rights as a stockholder shall exist
with respect to Option Shares subject to the Option, notwithstanding the
exercise of the Option. The Company shall issue (or cause to be issued) such
stock certificate promptly after the Option is exercised. No adjustment will be
made for a dividend or other right for which the record date is prior to the
date the stock certificate is issued. Optionee shall enjoy rights as a
shareholder until such time as Optionee disposes of the Option Shares or the
Company. Upon such exercise, Optionee shall have no further rights as a holder
of the Option Shares.

          2.16 Tax Consultation. Optionee understands that Optionee may suffer
adverse tax consequences as a result of Optionee's purchase of the Option
Shares. Optionee represents that Optionee has consulted with any tax consultants
Optionee deems advisable in connection with the purchase of the Option Shares
and that Optionee is not relying on the Company for any tax advice.

<PAGE>

          2.17 Restrictive Legends and Stop-Transfer Orders.

          (a) Legends. Optionee understands and agrees that the Company shall
cause the legends set forth below or legends substantially equivalent thereto,
to be placed upon any certificate(s) evidencing ownership of the Option Shares
together with any other legends that may be required by state or federal
securities laws:

          THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
          SECURITIES ACT OF 1933 (THE "ACT") AND MAY NOT BE OFFERED, SOLD OR
          OTHERWISE TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS AND UNTIL
          REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL IN FORM AND
          SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER,
          SALE, TRANSFER, PLEDGE, OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.

          (b) Stop-Transfer Notices. Optionee agrees that, in order to ensure
compliance with the restrictions referred to herein, the Company may issue
appropriate "stop transfer" instructions to its transfer agent, if any, and
that, if the Company transfers its own securities, it may make appropriate
notations to the same effect in its own records.

          (c) Refusal to Transfer. The Company shall not be required (i) to
transfer on its books any Option Shares that have been sold or otherwise
transferred in violation of any of the provisions of this Agreement or (ii) to
treat as owner of such Option Shares or to accord the right to vote or pay
dividends to any purchaser or other transferee to whom such Option Shares shall
have been so transferred.

          2.18 Successors and Assigns. The Company may assign any of its rights
under this Agreement to single or multiple assignees, and this Agreement shall
inure to the benefit of the successors and assigns of the Company. Subject to
the restrictions on transfer herein set forth, this Agreement shall be binding
upon Optionee and his or her heirs, executors, representatives, administrators,
successors, and assigns.

          2.19 Interpretation. Any dispute regarding the interpretation of this
Agreement shall be submitted by Optionee or by the Company forthwith to the
Company's Board of Directors or committee thereof that is responsible for the
administration of the Plan (the "Option Committee"), which shall review such
dispute at its next regular meeting. The resolution of such a dispute by the
Option Committee shall be final and binding on the Company and on Optionee.

          2.20 Governing Law; Severability. This Agreement shall be governed by
and construed in accordance with the laws of the State of Utah excluding that
body of law pertaining to conflicts of law. Should any provision of this
Agreement be determined by a court of law to be illegal or unenforceable, the
other provisions shall nevertheless remain effective and shall remain
enforceable.

          2.21 Notices. Any notice required or permitted hereunder shall be
given in writing and shall be deemed effectively given upon personal delivery or
upon deposit in the United States mail by certified mail, with postage and fees
prepaid, addressed to the other party at its address as shown below beneath its
signature, or to such other address as such party may designate in writing from
time to time to the other party.

<PAGE>

          2.22 Further Instruments. The parties agree to execute such further
instruments and to take such further action as may be reasonably necessary to
carry out the purposes and intent of this Agreement.

          2.23 Delivery of Payment. Optionee herewith delivers to the Company
the full Exercise Price for the Option Shares as set forth above in Section 1,
as well as any applicable withholding tax.

          2.24 Entire Agreement. The Plan and Option Agreement are incorporated
herein by reference. This Agreement, the Plan, the Option Agreement, and the
Investment Representation Statement constitute the entire agreement of the
parties and supersede in their entirety all prior undertakings and agreements of
the Company and Optionee with respect to the subject matter hereof.

Accepted by:                            Submitted by:

ARC WIRELESS SOLUTIONS, INC.            OPTIONEE

By:________________________________     ______________________________________
Name:______________________________     Name:_________________________________
Its:_______________________________     Address:______________________________

<PAGE>

                                    EXHIBIT B
                                    ---------

                       INVESTMENT REPRESENTATION STATEMENT

OPTIONEE :
COMPANY  :        ARC Wireless Solutions, Inc.
SECURITY :        Common Stock
AMOUNT   :
DATE     :

     In connection with the purchase of the above-listed shares of Common Stock
(the "Securities") of ARC Wireless Solutions, Inc. (the "Company"), the
undersigned (the "Optionee") represents to the Company the following:

          (a) Optionee is aware of the Company's business affairs and financial
condition and has acquired sufficient information about the Company to reach an
informed and knowledgeable decision to acquire the Securities. Optionee is
acquiring these Securities for investment for Optionee's own account only and
not with a view to, or for resale in connection with, any "distribution" thereof
within the meaning of the Securities Act of 1933, as amended (the "Securities
Act").

          (b) Optionee acknowledges and understands that the Securities
constitute "restricted securities" under the Securities Act and have not been
registered under the Securities Act in reliance upon a specific exemption
therefrom, which exemption depends upon, among other things, the bona fide
nature of Optionee's investment intent as expressed herein. Optionee understands
that the Securities must be held indefinitely unless they are subsequently
registered under the Securities Act or an exemption from such registration is
available. Optionee further acknowledges and understands that the Company is
under no obligation to register the Securities. Optionee understands that the
certificate evidencing the Securities will be imprinted with a legend that
prohibits the transfer of the Securities unless they are registered or such
registration is not required in the opinion of counsel satisfactory to the
Company and any other legend required under applicable state securities laws.

          (c) Optionee is familiar with the provisions of Rule 144 promulgated
under the Securities Act, which, in substance, permits limited public resale of
"restricted securities" acquired, directly or indirectly from the issuer
thereof, in a non-public offering subject to the satisfaction of certain
conditions.

          Under Rule 144, the Securities may be resold in certain limited
circumstances subject to the provisions of Rule 144, which requires the resale
to occur not less than one year after the later of the date the Securities were
sold by the Company or the date the Securities were sold by an affiliate of the
Company, within the meaning of Rule 144; and, in the case of acquisition of the
Securities by an affiliate, or by a non-affiliate who subsequently holds the
Securities less than two (2) years, the satisfaction of the following
conditions: (1) the resale being made through a broker in an unsolicited
"broker's transaction" or in transactions directly with a market maker (as said
term is defined under the Securities Exchange Act of 1934); and, in the case of
an affiliate; (2) the availability of certain public information about the
Company; (3) the amount of Securities being sold during any three (3)-month
period not exceeding the limitations specified in Rule 144(e); and (4) the
timely filing of a Form 144, if applicable.

<PAGE>

          (d) Optionee further understands that in the event all of the
applicable requirements of Rule 144 are not satisfied, registration under the
Securities Act, compliance with Regulation A, or some other registration
exemption will be required; and that, notwithstanding the fact that Rule 144 is
not exclusive, the Staff of the Securities and Exchange Commission has expressed
its opinion that persons proposing to sell private placement securities other
than in a registered offering and otherwise than pursuant to Rules 144 will have
a substantial burden of proof in establishing that an exemption from
registration is available for such offers or sales, and that such persons and
their respective brokers who participate in such transactions do so at their own
risk. Optionee understands that no assurances can be given that any such other
registration exemption will be available in such event.

                                       Signature of Optionee:

                                       Optionee

                                       Date: _______________________, ____AGREEMENT

EXECUTIVE CHANGE OF CONTROL 

AND 

SEVERANCE AGREEMENT

 

 

THIS AGREEMENT (the "Agreement") is made and entered into as of this 15th day of May, 2007 by and between Adams Golf Management Corp, a Delaware corporation, and the corporation's Chief Financial Officer , Eric Logan (the "Executive").  Adams Golf Management Corp. is sometimes referred to herein as the "Employer".

RECITALS

WHEREAS, management has determined that it is in the best interests of Management Corp. and its group of affiliated entities, the ultimate parent of which is Adams Golf, Inc., a Delaware Corporation ("Adams Golf," collectively with the affiliated entities, the "Company") as well as the shareholders of Adams Golf, for Management Corp. to agree, for a period of three (3) years, to assure either one (1) year's employment or the equivalent benefits of one (1) year's employment to Executive, who is responsible for financial and operations functions of the Company; and

WHEREAS, management has determined that it is important to enable Executive, without being distracted by the uncertainties of his own employment situation, to perform his duties;

NOW, THEREFORE, in consideration of the foregoing, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

AGREEMENT

Section ITerm of Agreement.  This Agreement shall be effective for a period of three (3) years commencing on the date first mentioned above and continuing for a period of three (3) years. 
Section 2Definitions.

	"Base Salary" means the Executive's annual base salary in effect on the day prior to a Sale (as defined below), Change of Control (as defined below), or at the time of execution of this Agreement, whichever is higher,

	"Cause" means the following:

	  the Executive's admission or conviction of a felony, 

	the Executive's commission of an act of dishonesty in the course of his duties, 

	the Executive's repeated disregard of policy directives of the Employer, 

	the Executive's repeated failure to satisfactorily perform assigned duties, or 

	the Executive's breach of his fiduciary responsibilities or fiduciary duties as an employee of the Employer.

	"Termination" means the following (without the Executive's express written consent) after written notice provided by the Executive and the failure of the Employer or its successors to remedy the following within thirty (30) days after receipt of such written notice:

	a reduction in the Executive's Base Salary;

	a relocation of the Executive's principal place of business to any location which is not within the greater Dallas/Fort Worth metropolitan area;

	the assignment to the Executive of any duties inconsistent with and inferior to the position with the Employer that the Executive held immediately prior to the execution of the Agreement, or a significant adverse alteration in the nature or status of the Executive's responsibilities or the conditions of the Executive's employment from those in effect immediately prior to the execution of this Agreement;

	the failure by the Employer to continue in effect any compensation plan in which the Executive participates immediately prior to the execution of this Agreement that is material to the Executive's total compensation, including, but not limited to, Adams Golf 2002 Equity Incentive Plan, or any additional or substitute plan adopted prior to the execution of this Agreement, or the failure by the Employer to continue the Executive's participation in any compensation plan referred to above on a basis less favorable, both in terms of benefits provided and the level of the Executive's participation relative to other participants as existed at the time of execution of this Agreement;

	failure by the Employer to continue to provide the Executive with benefits substantially similar at a substantially similar cost to those enjoyed by the Executive under any of the Employer's life insurance, medical, health and accident, or disability plans in which the Executive was participating at the execution of this Agreement, the taking of any action by the Employer which would directly or indirectly materially reduce any of such benefits or deprive the Executive of any material fringe benefit enjoyed by the Executive at the execution of this Agreement;  

	firing or laying off the Executive;

	any material breach of this Agreement by the Employer or its successors.

	"Sale Termination" means  (1) within three years from the date this contract is entered into, the Executive is terminated (as defined above) without cause (as defined above); and (2) at the time of termination, the following is imminently anticipated or actually takes place:

	a majority of the capital stock of Adams Golf is sold or transferred to an unaffiliated entity, or 

	substantially all of the assets of Adams Golf are sold or transferred to an unaffiliated entity. 

	"Change of Control Termination" means (1) within three years from the date this contract is entered into, the Executive is terminated (as defined above) without cause (as defined above); and (2) at the time of termination, the following is imminently anticipated or actually takes place:

	any person is or becomes the "beneficial owner' (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of Adams Golf, representing fifty-one (51%) percent or more of the combined voting power of Adams Golf's then outstanding securities;

	the stockholders of Adams Golf approve a merger or consolidation, a sale or disposition of all or substantially all of Adams Golf's assets or a plan of liquidation or dissolution of Adams Golf. 

(f)"Good reason" termination means that the Executive terminated his employment because 30 days have elapsed without cure of any of the following:
(i)  any material breach by the Company of any of the terms of, or the failure to perform any covenant or agreement contained in this Agreement after the Company's receipt from the Executive of written notice specifying in reasonable details the nature of the Company's breach or failure to perform; or

(ii) any substantial reduction in title, position, reporting requirements, responsibilities, or duties of the Executive after the Company's receipt from the Executive of written notice specifying in reasonable details the nature of such occurrence; or

(iii) the occurrence of any reduction in the Annual Base Salary; or

(iv) the Company's failure to obtain the full assumption in writing of this Agreement by any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) of the Company's business and/or assets after the Company's receipt from the Executive of written notice of this failure; or

(v) delivery of written notice by the Company to the Executive of the Company's approval for the Executive to tender his resignation with Good Reason.

Section 3 Termination Resulting from Sale or Change of Control or Without Cause.

Upon a Sale or Change of Control or Without Cause Termination, the following shall apply: 

	within 30 days of the date of termination, all unpaid Base Salary (as defined below) shall accrue and Employer shall provide the Executive with all salary, benefits and expense reimbursements to which the Executive would otherwise be entitled, through and including the date of termination, including, without limitation, compensation for vacation days accrued in the year of termination which are unused as of the termination date.

	in exchange for a General Release in form and substance reasonably satisfactory to the Employer the Executive shall receive:

	payments of Base Salary to the Executive for the twelve (12) month time period following the date of termination at such times as salary payments were historically made to Executive;

	continued substantially equal medical benefits for the twelve (12) month period following the date of termination;

	the immediate vesting of any stock options granted under the Adams Golf Employee Stock Option Plan or any substituted or amended plan prior to the execution of the Agreement.  Executive shall have 120 days thereafter to exercise those stock options.

	Any payments owed to the Executive pursuant to Section 3(b) shall be offset by any severance payments paid to the Executive by the Employer or its successor.

Section 4No Mitigation.  In the event of a Sale or Change of Control Termination, the Executive shall not be required to mitigate the payments or benefits to be received by the Executive hereunder by securing other employment or otherwise.

Section 5Severance Rights if Executive  is Terminated Without Cause.  Executive is an at-will employee.  However, if Executive is terminated without cause (as defined above) irrespective of a sale or change of control (as defined above), the provisions of Section 3 of this Agreement shall apply. 

Section 6Severance terms if Executive is Terminated with Cause.Upon the termination of the Executive's employment by the Company for Cause or the Executive without good reason, neither the Company nor the Executive shall have any remaining duties or obligations except that the Company shall: 

(a) pay the Executive's accrued salary and any other accrued benefits through the effective date of such expiration or termination; 

(b) reimburse the Executive for expenses already actually incurred  through the effective date of such expiration or termination;

(c) pay or otherwise provide for any benefits, payments or continuation or conversion rights in accordance with the provisions of any employee benefit plan of which the Executive or any of his dependents is or was a participant or as otherwise required by law; 

(d) pay the Executive and his beneficiaries any compensation and/or provide the Executive or his eligible dependents any benefits due through the effective date of such expiration;  

Section 7Successors Bound.  The rights and obligations of the Employer hereunder shall inure to the benefit and are binding upon the successor of the Employer.

Section 8Notices and Other Documents.  All payments, requests, notices and the like may be made to the Executive by mailing the same to the Executive.  Notices, requests and the like sent by the Executive to Adams Golf at Attn. Human Resources,  Adams Golf, 2801 E. Plano Parkway, Plano, TX 75074,  or to such other address as Adams Golf may furnish to the Executive for this purpose from time to time in writing.

Section 9Employment Taxes.  All payments made under this Agreement shall be subject to withholding tax, other employment taxes and other withholdings and deductions as required by applicable law or regulation, as in effect from time to time.

MISCELLANEOUS PROVISIONS

Section 10     Assignment.   This Agreement and the Executive's rights and obligations hereunder may not be assigned by the Executive.  The Employer may assign its right, together with its obligations hereunder (i) to any successor-in-interest, or (ii) to third parties in connection with any sale, transfer or other disposition of all or substantially all of the business or assets; in any event the obligations of the Employer hereunder shall be binding on its successor or permitted assign, whether by merger, consolidation or acquisition of all or substantially all of its businesses or assets.

Section 11 Significance of Headings.  Section headings contained herein are solely for aiding in speedy location of subject matter and are not in any sense to be given weight in the construction of this Agreement.  Accordingly, in case of any question with respect to the construction of this Agreement, it is to be construed as though such section headings had been omitted.

Section 12Applicable Law, Venue.  This Agreement shall be governed and construed according to the laws of the State of Texas.   Any action brought by either party arising out of this Agreement shall take place in Plano, Texas.

Section 13Entire Agreement.   The provisions of this Agreement are intended by the parties as a complete, conclusive and final expression of their agreement concerning the subject matter hereof.  This Agreement supersedes all prior agreements concerning the subject matter, and no other statement, representation, agreement or understanding, oral or written, made prior to or at the execution hereof, shall vary or modify the written terms hereof.  No amendments, modifications or releases from any provision hereof shall be effective unless in writing and signed by both parties.

Section 14Waiver.  Unless otherwise mutually agreed in writing, no departure from, waiver of, or omission to require compliance with any of the terms hereof by either party shall be deemed to authorize any prior or subsequent departure or waiver, or obligate either party to continue any departure or waiver.

Section 15Severability.   Any provision or part of this Agreement prohibited by applicable law shall be ineffective to the extent of such prohibition without invalidating the remaining provisions or parts hereof.

Section 16  Arbitration.   In the event a dispute arises under this Agreement which cannot be resolved, such dispute shall be submitted to arbitration and resolved by a panel of three arbitrators (who shall be lawyers), in a decision required by a majority of the arbitrators.  If the parties cannot agree upon the panel of three arbitrators, then each party may pick an arbitrator and the two chosen arbitrators shall choose upon the three-arbitrator panel.  The arbitration shall be conducted in accordance with the Arbitration Rules of the American Arbitration Association.  Venue shall be Plano, Texas.  The award or decision rendered by the arbitration panel shall be final, binding and conclusive and judgment may be entered upon such award by any court of competent jurisdiction.

IN WITNESS WHEREOF, this Agreement has been duly executed by each of the parties hereto as of the date first written above.

(Executive)

/S/ Eric Logan                

Eric Logan

Chief Financial Officer

ADAMS GOLF

/S/ Oliver G. Brewer__

Oliver G. (Chip) Brewer, III

CEO & President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}]]