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EXHIBIT 4.4  

AGREEMENT TO VOLUNTARILY

CONVERT PREFERRED STOCK  

        This Agreement to Voluntarily Convert Preferred Stock (the "Agreement") is executed as of the 16th day of May, 2005, by and among Golf Galaxy, Inc., a
Minnesota corporation (the "Company"), and all of the holders (the "Holders") of the issued and outstanding preferred stock (the "Preferred Stock") of the Company. 

BACKGROUND  

        A.    Section 1.2.5(B)
of the Company's Statement of Designation, Preferences and Rights of Series A, B, C and D Convertible Preferred Stock (the "Statement") in
the Amended and Restated Articles of Incorporation (the "Articles of Incorporation") provides that each Holder, at its option, has the right to convert all of its outstanding shares of Preferred Stock
into shares of the common stock of the Company (the "Common Stock") pursuant to the terms set forth in Section 1.2.5(C) of the Statement in the Articles of Incorporation. 

        B.    The
Company is contemplating entering into an initial public offering of its Common Stock (the "IPO") and wants all of the Holders to convert their Preferred Stock into
shares of Common Stock contingent upon and simultaneously with the closing of the IPO. 

        C.    The
Company will satisfy its obligations to pay all dividends on the Preferred Stock that will be accrued and unpaid as of the closing date of the IPO by paying such
amount to the Holders in cash at the closing of the IPO. 

        D.    The
Holders are willing to convert their Preferred Stock into Common Stock pursuant to the terms of this Agreement and to accept the cash payment of all accrued and
unpaid dividends on the Preferred Stock at the closing of the IPO. 

 
 

AGREEMENT    
    

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

 
 

          1.    Election to Convert.     If the Company completes a Qualified IPO, the Holders hereby irrevocably elect
to convert all outstanding shares of Preferred Stock into shares of Common Stock
pursuant to Section 1.2.5(B) of the Statement in the Articles of Incorporation (the "Conversion"), such Conversion to be conditioned upon and to occur at the closing of the Qualified IPO, and
to be effective with no further action by any party as of the date and time of the closing of the Qualified IPO. Upon the closing of the Qualified IPO, the Company will cause to be delivered to the
Holders the shares of Common Stock issuable as a result of the Conversion and the outstanding Preferred Stock will be deemed surrendered and cancelled without any action of the Company or the Holder.
An IPO shall be deemed to be a "Qualified IPO" if all of the following conditions are satisfied: (i) the IPO is pursuant to a firm commitment underwriting, (ii) the IPO results in gross
proceeds to the Company of not less than $30 million (including proceeds. received by the Company upon exercise of any over-allotment option by underwriters), (iii) the IPO
closes on or before December 31, 2005, and (iv) the price per share at which Common Stock is sold in the IPO is satisfactory to all of the four Holders (it being understood that the two
Primus entities and the two FdG entities shall each be considered a single Holder) in their sole discretion, as evidenced in writing by such Holders. 

 
 

           2.    Waiver and Confirmation of Termination of Certain Rights.     Subject to the occurrence of the
Conversion, which shall be a condition subsequent to the waiver or confirmation set forth in this 

1

 

sentence,
if the Company completes a Qualified IPO, each Holder hereby waives or confirms the termination of (a) all anti-dilution or preemptive rights the Holders may have with
respect to the issuance of shares of the Company's capital stock in connection with or immediately prior to the Qualified IPO; (c) any rights the Holders may have to have their shares of
Preferred Stock (or the shares of Common Stock into which such Preferred Stock is convertible) registered in the Qualified IPO itself (it being understood that this waiver shall not apply to
registration rights that the Holders may have with respect to any time following the Qualified IPO); (d) any rights of redemption the Holders may have with respect to the Preferred Stock;
(e) any rights the Holders may have to designate or elect members of the Board of Directors of the Company (other than rights of holders of Common Stock generally); (f) the Amended and
Restated Stock Restriction Agreement dated as of October 3, 2000; and (g) all covenants between the Company and the Holder set forth in the respective purchase agreements pursuant to
which the Holders purchased the Preferred Stock, including the following: Selection of Independent Public Accountants; Payment of Taxes; Corporate Existence and Licenses; Maintenance of Properties; To
Insure; Payment of Indebtedness, etc.; Tax Treatment of Dividends; Notice of Claimed Default or Deficiency; Attendance at Board Meetings; Blue Sky; Compliance with Laws; Filing of Commission Reports;
Transactions with Affiliates; Subsidiaries; No Registration Rights to Others; Use of Proceeds; Lock-up; and Articles of Amendment; provided,  however, that
notwithstanding the foregoing, the covenants between the Company and the Holders set forth on Annex A hereto which were originally set
forth in the respective purchase agreements pursuant to which the Holders purchased the Preferred Stock are not hereby waived or terminated, but rather shall continue as modified in Annex A and
terminate when and as provided in such covenants. 

 
 

           3.    Governing Law.     This Agreement shall in all respects be governed by and construed in accordance
with the internal substantive laws of the State of Minnesota without giving effect
to the principles of conflicts of law thereof. 

 
 

          4.    Counterparts.     This Agreement may be executed in any number of counterparts, which, when executed
and delivered, will have the same effect as if all of the parties hereto had
originally signed the same document. All counterparts will be construed together and will constitute one document. Effective delivery may occur via facsimile. 

* * * * * *

[Remainder of page intentionally left blank.

Signature page follows.] 

2

 

        IN
WITNESS WHEREOF, the undersigned have executed and delivered this Agreement to Voluntarily Convert Preferred Stock as of the date first above written. 

	GOLF GALAXY, INC.	 	WILLIAM BLAIR CAPITAL PARTNERS V, L.P.
	

 	
 	

 	
 	

By:	
 	

William Blair Capital Management
	 	 	 	 	Its:	 	General Partner
	

 	
 	

 	
 	

 	
 	

 
	By:	 	/s/  RANDY ZANATTA      
	 	By:	 	/s/  GREGG S. NEWMARK      

	Name:	 	Randall K. Zanatta	 	Name:	 	Gregg S. Newmark
	Title:	 	President and CEO	 	Title:	 	Managing Director
	

 	
 	

 	
 	
PRIMUS CAPITAL FUND IV L.P.
	 	 	 	 	By:	 	Primus Venture Partners IV Limited Partnership
	 	 	 	 	By:	 	Primus Venture Partners IV, Inc.
	 	 	 	 	Its:	 	General Partner
	

 	
 	

 	
 	

By:	
 	

/s/  WILLIAM C. MULLIGAN      

	 	 	 	 	Name:	 	William C. Mulligan
	 	 	 	 	Title:	 	Executive Vice President
	

 	
 	

 	
 	
PRIMUS EXECUTIVE FUND L.P.
	 	 	 	 	By:	 	Primus Venture Partners IV Limited Partnership
	 	 	 	 	By:	 	Primus Venture Partners IV, Inc.
	 	 	 	 	Its:	 	General Partner
	

 	
 	

 	
 	

By:	
 	

/s/  WILLIAM C. MULLIGAN      

	 	 	 	 	Name:	 	William C. Mulligan
	 	 	 	 	Title:	 	Executive Vice President
	

 	
 	

 	
 	
FdG CAPITAL PARTNERS LLC
	 	 	 	 	By:	 	FdG Capital Associates LLC
	 	 	 	 	Its:	 	Managing Member
	

 	
 	

 	
 	

By:	
 	

/s/  DAVID S. GELLMAN      

	 	 	 	 	Name:	 	David S. Gellman
	 	 	 	 	Title:	 	Vice President of FdG Capital Associates, LLC
	

 	
 	

 	
 	
FdG—CHASE CAPITAL PARTNERS LLC
	 	 	 	 	By:	 	FdG Capital Associates LLC
	 	 	 	 	Its:	 	Managing Member
	

 	
 	

 	
 	

By:	
 	

/s/  DAVID S. GELLMAN      

	 	 	 	 	Name:	 	David S. Gellman
	 	 	 	 	Title:	 	Vice President of FdG Capital Associates, LLC
	

 	
 	

 	
 	
BEST BUY CO., INC.
	 	 	 	 	By:	 	/s/  RYAN D. ROBINSON      

	 	 	 	 	Name:	 	Ryan D. Robinson
	 	 	 	 	Title:	 	V.P.—Finance and Treasurer
	

 	
 	

 	
 	
ALL OF THE HOLDERS

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ANNEX A  

 
 

           1.    Financial Statements and Information.     

        The
Company shall furnish to each Holder of at least 250,000 shares of Common Stock, as such number may be ratably adjusted in connection with any stock splits, stock dividends and/or
stock combinations affecting such Common Stock following the date of this Agreement, (the "Minimum Number of Shares"): 

        (a)    Interim Financial Statements and Reports.    Within 45 days after the end of each month, a consolidated
balance sheet of the Company and its Subsidiaries as of the end of such month, together with related consolidated statements of operations, changes in stockholders' equity and cash flows for such
month and year-to-date, prepared in accordance with generally accepted accounting principles consistently applied (with the exception of full footnote disclosures, schedules
and precise period cutoffs) and certified by the principal financial officer or controller, or their equivalent, of the Company, subject to usual year-end audit adjustments. 

        (b)    Annual Financial Statements and Reports.    Within 120 days after the last day of each fiscal year of
the Company, a copy of its audit report containing a consolidated balance sheet of the Company and its Subsidiaries at the end of the fiscal year, together with related consolidated statements of
operations, changes in stockholders' equity and cash flows for such fiscal year, prepared in accordance with generally accepted accounting principles consistently applied, all examined by and
accompanied by a certificate of opinion of the Company's independent public accountants, (when applicable), together with consolidating statements, which need not be certified, which set forth the
eliminations of intercorporate items. 

        (c)    Additional Reports.    Promptly after transmission or filing thereof (but in no event later than 10 business
days thereafter), copies of: all financial statements, reports and any other material written communications as the Company or any Subsidiary shall send to the Holders of any class or series of its
capital stock; such registration statements, proxy material, reports and other documents as the Company or any of its Subsidiaries shall file with the Commission, with any state securities regulatory
agency, or with any stock exchange, in each case within 10 business days after such transmittal or filing, copies of all press releases and other statements made available by the Company to the public
generally, concerning material developments in the Company's business, and all such other material information regarding the Company or any Subsidiary or any joint venture in which the Company or any
Subsidiary has an interest. The Company further agrees to furnish each Holder, at such Holder's expense at a cost equal to the Company's cost, with any additional information pertaining to the Company
and its Subsidiaries not normally prepared by the Company which is required to be reported or furnished by you under the laws or regulations of any jurisdiction to which you are or become subject. 

        (d)    Suspension of Obligation.    If the Company becomes obligated to file reports with the Securities and Exchange
Commission (the "Commission") under Section 13 or Section 15(d) of the Securities Exchange Act by reason of its having a class of Securities registered under Section 12 of the
Securities Exchange Act, it shall regularly file reports thereunder in a timely manner so long as it is required to do so pursuant to the provisions of the Securities Exchange Act, and it shall
furnish a copy to you within the time periods specified in such respective subsections, the delivery of such document to you will satisfy the requirements of Subsections (a), (b) and
(c) of this Section 1. 

 
 

           2.    Discussion and Inspection Rights.     

        The
Company shall permit any Holder who, alone or when aggregated with the holdings of its Affiliates, owns not less than the Minimum Number of Shares, and any Person designated from
time to 

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time
by any such Holder, at such Holder's expense, to discuss the affairs, finances and accounts of the Company and its Subsidiaries with the Company's directors, officers, other principal executives
and independent accountants, and those of its Subsidiaries, all at such reasonable times and as often as such Holder may reasonably request; all books, documents, financial records and vouchers
relating to the business and affairs of the Company and its Subsidiaries shall at all reasonable times be open to inspection either by such Holder or such accountant or other Person as shall from time
to time be designated by such Holder, who may make such copies thereof or extracts therefrom as such Holder reasonably deems appropriate; and all facilities of the Company and its Subsidiaries shall
at all reasonable times be open to inspection by such Holder or such Person as shall from time to time be designated by such Holder. 

 
 

           3.    Confidentiality.     

        Each
Holder, and any Person designated from time to time by any such Holder receiving information pursuant to Sections 1, 2 or 3 hereof or upon exercising the rights of discussion or
inspection granted under Section 2, shall maintain the confidentiality of all financial, confidential and proprietary information of the Company acquired by them in exercising such rights.
Nothwithstanding the proceeding sentence, each Holder, including their representatives, may (i) disclose such information when required by law or governmental order or regulation, or when
required by lawful subpoena or other process, (ii) disclose such information to the extent necessary to enforce this Agreement, (iii) disclose such information to its attorney,
accountants, consultants and other professionals to the extent necessary to obtain their services in connection with its investment in the Company, or (iv) disclose such information that is or
may become known to any Holder, any Person designated from time to time by such Holder, or to the public from sources outside the Company and through means other than by breach of this Agreement. 

 
 

           4.    Payment of Fees and Expenses of Purchasers.     

        The
Company will pay reasonable expenses incurred by you (a) incident to (i) your enforcement of any rights or remedies pursuant to this Agreement, the Company's Articles
of Incorporation and/or the other agreements contemplated hereby, or (ii) any request by the Company for your consent to contemplated acts of the Company not permissible under the terms of the
Articles of Incorporation or the Bylaws of the Company, this Agreement or any of the agreements contemplated hereby without such consent, or (b) in connection with amendments to this Agreement,
the Articles of Incorporation or any of the agreements contemplated hereby which are requested by the Company or (c) in connection with your compliance with any securities laws or other
governmental reporting requirements related to your ownership or transfer of Securities; provided,  however, that you will pay all fees, costs and expenses
incurred by you in connection with HSR Act compliance, other than any filing fee, which shall be
borne equally by you and the Company. 

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AGREEMENT

1. Election to Convert.

2. Waiver and Confirmation of Termination of Certain Rights.

3. Governing Law.

4. Counterparts.

1. Financial Statements and Information.

2. Discussion and Inspection Rights.

3. Confidentiality.

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EXHIBIT 10.13  

 
 

GOLF GALAXY, INC.
  1996 STOCK OPTION AND INCENTIVE PLAN
  FORM OF
  NON-QUALIFIED STOCK OPTION AGREEMENT    
    

	OPTIONEE:	 	<Name>
	

GRANT DATE:	
 	

August 3, 2004
	

NUMBER OF OPTION SHARES:	
 	

<Number of Shares> Shares
	

OPTION PRICE PER SHARE:	
 	

$6.30 per Share
	

EXPIRATION DATE:	
 	

August 3, 2014

        THIS AGREEMENT is made as of the Grant Date set forth above, by and between Golf Galaxy, Inc., a Minnesota corporation (the
"Company"), and the Optionee named above, who provides services to the Company or a Subsidiary of the Company as an employee, consultant or other service provider (the "Optionee"). 

        The
Company desires, by affording the Optionee an opportunity to purchase shares of its Common Stock, par value $.01 per share (the "Common Stock"), as hereinafter provided, to carry out
the purpose of the Golf Galaxy, Inc. 1996 Stock Option and Incentive Plan (the "Option Plan"). 

        NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties
hereby agree as follows: 

        1.    Grant of Option.    The Company hereby grants to the Optionee the right and option to purchase all or any part
of the aggregate number of shares of Common Stock set forth above (the "Option Shares") (such number being subject to adjustment as provided in paragraph 8 hereof) on the terms and subject to
the conditions set forth in this Agreement. This option is not intended to be an "incentive stock option" within the meaning of section 422 of the Internal Revenue Code of 1986, as amended. 

        2.    Purchase Price.    The purchase price of the Option Shares shall be the Option Price per share set forth above
(such Option Price being subject to adjustment as provided in paragraph 8 hereof). 

        3.    Term and Exercise of Option.    

        (a)   The
term of this option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as
provided herein. 

        (b)   Except
as otherwise provided herein, this option will be exercisable in cumulative installments as follows: 

          (i)  Up
to 50% of the Option Shares may be purchased prior to one year from the Grant Date; 

         (ii)  Up
to 100% of the Option Shares (less any shares previously purchased pursuant to this option) may be purchased at any time after one year from the Grant Date and prior
to termination of this option; 

        (c)   To
exercise this option, the Optionee shall give written notice to the Company, to the attention of its President or other designated agent, in form satisfactory to the
Company and shall 

1

 

deliver
payment in full for the Option Shares with respect to which this option is then being exercised, as provided in paragraph 4(b) below. 

        (d)   Neither
the Optionee nor the Optionee's heirs or legal representatives, as the case may be, will be, or will be deemed to be, a holder of any Option Shares for any
purpose unless and until certificates for such shares are issued to the Optionee or the Optionee's heirs or legal representatives under the terms of the Option Plan. 

        4.    Limitations on Exercise of Option.    

        (a)   Except
as provided in paragraph 6(a) or 7 below, this option may not be exercised unless the Optionee, at all times during the period beginning on the Grant Date
and ending on the date of such exercise, shall have been continuously employed by or providing services to the Company or a Subsidiary of the Company. 

        (b)   The
exercise of this option will be contingent upon receipt from the Optionee (or the purchaser acting under paragraph 7 below) of the full Option Price of such
Option Shares. Payment of the Option Price may be made in cash. 

        (c)   The
issuance of Option Shares upon the exercise of this option shall be subject to all applicable laws, rules, and regulations. If, in the opinion of the Board of
Directors of the Company or a Stock Option Committee of the Board of Directors, (i) the listing, registration, or qualification of the Option Shares upon any securities exchange or under any
state or federal law, (ii) the consent or approval of any regulatory body, or (iii) an agreement of the Optionee that the Option Shares shall be held for Optionee's own account without a
view to any further distribution thereof and that such Option Shares will not be transferred or disposed of except in compliance with applicable securities laws, is necessary or desirable as a
condition to the issuance or sale of the Option Shares, this option shall not be exercisable unless and until such listing, registration, qualification, consent, approval or agreement is effected or
obtained in form satisfactory to the Board of Directors or the Stock Option Committee. 

        5.    Nontransferability of Option.    This option shall not be transferable by the Optionee, other than by will or
the laws of descent and distribution. During the lifetime of the Optionee, this option shall be exercisable only by the Optionee. 

        6.    Termination of Employment or Other Services.    

        (a)   If
the Optionee shall cease to be employed by or to provide services to the Company or a Subsidiary of the Company as a result of permanent and total disability (as
defined in Code Section 22(e)(3), or any successor provision), this option will become exercisable in full on the date of termination of employment or other services, and may be exercised
within a period of one year after such termination, but in no case later than the Expiration Date set forth above. 

        (b)   If
the Optionee shall cease to be employed by or to provide services to the Company or a Subsidiary of the Company for any reason other than death or permanent and total
disability (as defined in Code Section 22(e)(3), or any successor provision), this option may be exercised, to the extent the Optionee shall have been entitled to do so at the date of
termination of employment or other services, within a period of one year after such date of termination, but in no case later than the Expiration Date set forth above. 

        (c)   This
option will not confer upon the Optionee any right to continue providing services to the Company or a Subsidiary of the Company as an employee, consultant or other
service provider, nor will it interfere in any way with the Company's right or the Subsidiary's right to terminate the Optionee's employment or other services at any time. 

2

 

        7.    Death of Optionee.    In the event of the death of the Optionee while employed by or retained to provide
services to the Company or a Subsidiary of the Company, this option will become exercisable in full at the date of death and may be exercised within a period of one year after the date of death, but
in no case later than the Expiration Date set forth above. In such event, this option shall be exercisable only by the executors or administrators of the Optionee or by the person or persons to whom
the Optionee's rights under the option shall pass by the Optionee's will or the laws of descent and distribution. 

        8.    Adjustments.    In the event of any change in the outstanding shares of Common Stock by reason of any stock
dividend or split, recapitalization, reclassification, combination, or exchange of shares or other similar corporate change, then if the Board of Directors or the Stock Option Committee shall
determine, in its sole discretion, that such change necessarily or equitably requires an adjustment in the number of Option Shares or in the Option Price per share, such adjustments shall be made by
the Company and shall be conclusive and binding for all purposes of this option. No adjustment shall be made in connection with the issuance by the Company of any warrants, rights, or options to
acquire additional Common Stock or of securities convertible into Common Stock. Further, no adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other
property),
distributions or other rights for which the record date is prior to the date such shares are issued, except as otherwise provided in this paragraph 8. 

        9.    Merger, Consolidation, Reorganization, Liquidation, etc.    Subject to the other provisions of this option, if
the Company shall become a party to any corporate merger or consolidation in which the Company is not the surviving party, or shall sell all or substantially all of its assets (including pursuant to a
plan of liquidation), or in the case of a capital reorganization or reclassification of the shares of the Company, the Board of Directors of the Company shall have the power to make any arrangement it
deems advisable with respect to this option and the number of Shares subject to this option, which shall be binding for all purposes of this option, including, but not limited to, the substitution of
a new option for this option or any portion hereof that is then outstanding, the assumption of this option, or the acceleration of the exercisability of this option. 

        10.    Interpretation.    The interpretation and construction of any provision of the Option Plan and this option
shall be made by the Board of Directors or the Stock Option Committee and shall be final, conclusive and binding on the Optionee and all other persons. 

        11.    Subsidiary.    The term "Subsidiary" as used in the Option Plan and in this Option Agreement means a subsidiary
corporation, at least 50% of the outstanding voting stock or voting power of which is beneficially owned, directly or indirectly, by the Company. 

        12.    Withholding Taxes.    In order to permit the Company to comply with all applicable federal or state income tax
laws or regulations, the Company may take such action as it deems appropriate to insure that, if necessary to comply with all applicable federal or state income tax laws or regulations, all applicable
federal and state payroll, income or other taxes are withheld from any amounts payable by the Company to Optionee. If the Company is unable to withhold such federal and state taxes, for whatever
reason, Optionee hereby agrees to pay to the Company an amount equal to the amount the Company would otherwise be required to withhold under federal or state law. Optionee may, subject to the approval
and discretion of the Board or such administrative rules it may deem advisable, elect to have all or a portion of such tax withholding obligations satisfied by delivering shares of the Company's
Common Stock or by electing to have the Company withhold shares of Common Stock otherwise issuable to Optionee. Such shares shall have a Fair Market Value equal to the minimum required tax
withholding, based on the minimum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to the supplemental income resulting from the exercise of
this Option. In no event may the Company withhold shares having a Fair Market Value in excess of such statutory minimum required tax withholding. 

3

 

        13.    Lockup Period Limitation.    Optionee agrees that in the event the Company advises Optionee that it plans an
underwritten public offering of its Common Stock in compliance with the Securities Act of
1933, as amended, and that the underwriter(s) seek to impose restrictions under which certain shareholders may not sell or contract to sell or grant any option to buy or otherwise dispose of part or
all of their stock purchase rights or the underlying Common Stock, Optionee hereby agrees that for a period not to exceed 180 days from the date of the prospectus, Optionee will not sell or
contract to sell or grant an option to buy or otherwise dispose of this option or any of the underlying shares of Common Stock without the prior written consent of the underwriter(s) or its
representative(s). 

        14.    Blue Sky Limitation.    Notwithstanding anything in this Agreement to the contrary, in the event the Company
makes any public offering of its securities and determines in its sole discretion that it is necessary to reduce the number of issued but unexercised stock purchase rights so as to comply with any
state securities or Blue Sky law limitations with respect thereto, the Board of Directors of the Company shall have the right (i) to accelerate the exercisability of this Option and the date on
which this Option must be exercised, provided that the Company gives Optionee 15 days' prior written notice of such acceleration, and (ii) to cancel any portion of this Option or any
other option granted to Optionee pursuant to the Plan which is not exercised prior to or contemporaneously with such public offering. Notice shall be deemed given when delivered personally or when
deposited in the United States mail, first class postage prepaid and addressed to Optionee at the address of Optionee on file with the Company. 

        15.    Accounting Compliance.    Optionee agrees that, if a merger, reorganization, liquidation or other "transaction"
as defined in paragraph 9 occurs and Optionee is an "affiliate" of the Company or any Subsidiary (as defined in applicable legal and accounting principles) at the time of such transaction,
Optionee will comply with all requirements of Rule 145 of the Securities Act of 1933, as amended, and the requirements of such other legal or accounting principles, and will execute any
documents necessary to ensure such compliance. 

        16.    Stock Legend.    The Board may require that the certificates for any shares of Common Stock purchased by
Optionee (or, in the case of death, Optionee's successors) shall bear an appropriate legend to reflect the restrictions of paragraph 4(c) and paragraphs 13 through 15 of this Agreement. 

        17.    Scope of Agreement.    This Agreement shall bind and inure to the benefit of the Company and its successors and
assigns and Optionee and any successor or successors of Optionee permitted by paragraph 5 above. 

        18.    Arbitration.    Any dispute arising out of or relating to this Agreement or the alleged breach of it, or the
making of this Agreement, including claims of fraud in the inducement, shall be discussed between the disputing parties in a good faith effort to arrive at a mutual settlement of any such controversy.
If, notwithstanding, such dispute cannot be resolved, such dispute shall be settled by binding arbitration. Judgment upon the award rendered by the arbitrator may be entered in any court having
jurisdiction thereof. The arbitrator shall be a retired state or federal judge or an attorney who has practiced securities or business litigation for at least 10 years. If the parties cannot
agree on an arbitrator within 20 days, any party may request that the chief judge of the District Court for Hennepin County, Minnesota, select an arbitrator. Arbitration will be conducted
pursuant to the provisions of this Agreement, and the commercial arbitration rules of the American Arbitration Association, unless such rules are inconsistent with the provisions of this Agreement.
Limited civil discovery shall be permitted for the production of documents and taking of depositions. Unresolved discovery disputes may be brought to the attention of the arbitrator who may dispose of
such dispute. The arbitrator shall have the authority to award any remedy or relief that a court of this state could order or grant; provided, however, that punitive or exemplary damages shall not be
awarded. The arbitrator may award to the prevailing party, if any, as determined by the arbitrator, all of its costs and fees, including the arbitrator's fees, administrative fees, travel expenses,
out-of-pocket expenses and reasonable attorneys' 

4

 

fees.
Unless otherwise agreed by the parties, the place of any arbitration proceedings shall be Hennepin County, Minnesota. 

        19.    Option Plan Governs.    This option is in all respects subject to and governed by all of the provisions of the
Option Plan. 

        IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in its corporate name by its duly authorized officer, and the
Optionee has executed this Agreement as of the Grant Date set forth above. 

	COMPANY:	 	GOLF GALAXY, INC.
	

 	
 	

By	
 	

    
 Randall K. Zanatta

President
	

OPTIONEE:	
 	

    

	 	 	 	 	Name	 	 
	 	 	 	 	Address:	 	    
    

	 	 	 	 	SSN:	 	    

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GOLF GALAXY, INC. 1996 STOCK OPTION AND INCENTIVE PLAN FORM OF NON-QUALIFIED STOCK OPTION AGREEMENT

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