Document:

EX-10.19

 Exhibit 10.19 

INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION AGREEMENT (this “Agreement”) is entered into as of [        ],
by and between Malibu Boats, Inc., a Delaware corporation (the “Company”), and [                    ] (the
“Indemnitee”). 
 RECITALS 

WHEREAS, the board of directors of the Company (the “Board”) has determined that attracting and retaining qualified
persons, such as Indemnitee, as directors and officers of the Company is in the best interests of the Company and that the Company should act to assure such persons that there shall be adequate certainty of protection through insurance and
indemnification against risks of claims and actions against them arising out of their service to and activities on behalf of the Company; 

WHEREAS, the Company has adopted provisions in its certificate of incorporation, as amended and restated from time to time (the
“Certificate of Incorporation”), and bylaws, as amended and restated from time to time (the “Bylaws”), requiring indemnification of the officers and directors of the Company, and Indemnitee may also be entitled to
indemnification pursuant to the General Corporation Law of the State of Delaware (the “DGCL”); 
 WHEREAS, the
Bylaws, Certificate of Incorporation and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the Board,
officers and other persons with respect to indemnification; 
 WHEREAS, in order to induce Indemnitee to provide or continue to
provide services to the Company free from undue concern for unpredictable, inappropriate or unreasonable legal risks and personal liabilities by reason of the Indemnitee acting in good faith in the performance of the Indemnitee’s duty to the
Company, the Company wishes to provide for the indemnification of, and advancement of expenses to, Indemnitee to the maximum extent permitted by law; and 

WHEREAS, this Agreement is a supplement to and in furtherance of the indemnification provided in the Bylaws, Certificate of
Incorporation and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the receipt and sufficiency of which are hereby
acknowledged, the Company and Indemnitee do hereby covenant and agree as follows: 
 1. Definitions. For purposes of this Agreement: 

(a) “Change in Control” shall be deemed to have occurred: 

(i) if any “person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the
“Act”) (other than the Company, any of its subsidiaries, or any trustee, fiduciary or other person or entity holding securities under any employee benefit plan or trust of the Company or any of its subsidiaries), together with all
“affiliates” and “associates” (as such terms are defined in Rule 12b-2 under the Act) of such person, becomes the “beneficial owner” (as such term is defined in Rule 13d-3 under the Act), directly or indirectly, of
securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities (the “Voting Securities”) without prior approval of at least a majority of the members of the Board in
office immediately prior to such person’s attaining such percentage interest (in such case other than as a result of an acquisition of securities directly from the Company); 

(ii) if during any period of two consecutive years, individuals who at the beginning of such period constituted the Board, together with any
new directors whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of the period or
whose election or nomination was previously so approved, cease for any reason to constitute a majority of the Board; or 

  
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 (iii) upon the consummation of (A) any consolidation or merger of the Company where the
stockholders of the Company, immediately prior to the consolidation or merger, would not, immediately after the consolidation or merger, beneficially own, directly or indirectly, securities representing in the aggregate more than 50% of the voting
securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity, or (B) any sale or other
transfer (in one transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of the Company. 

Notwithstanding the foregoing, a “Change in Control” will not be deemed to have occurred for purposes of the foregoing clause
(i) solely as the result of an acquisition of securities by the Company, which, by reducing the number of shares of Voting Securities outstanding, increases the proportionate number of Voting Securities beneficially owned by any person to
50% or more of the combined voting power of all of the then outstanding Voting Securities; provided, however, that if any person referred to in this sentence will thereafter become the beneficial owner of any additional shares of Voting Securities
(other than pursuant to a stock split, stock dividend, or similar transaction or as a result of an acquisition of securities directly from the Company) and immediately thereafter beneficially owns 50% or more of the combined voting power of all of
the then outstanding Voting Securities, then a “Change in Control” will be deemed to have occurred for purposes of the foregoing clause (i). 

(b) “Corporate Status” shall mean the status of a person as a current or former director or officer of the Company or current
or former director, manager, officer, employee, agent or trustee of any other Enterprise for which such person is or was serving at the request of the Company. 

(c) “Enforcement Expenses” shall mean all reasonable attorneys’ fees, court costs, transcript costs, fees of experts,
travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other out-of-pocket disbursements or expenses of the types customarily incurred in connection with an action to enforce
indemnification or advancement rights, or an appeal from such action. Enforcement Expenses, however, shall not include fees, salaries, wages or benefits owed to Indemnitee. 

(d) “Enterprise” shall mean any corporation (other than the Company), partnership, joint venture, trust, employee benefit
plan, limited liability company or other legal entity of which Indemnitee is or was serving at the request of the Company as a director, manager, officer, employee, agent or trustee. 

(e) “Expenses” shall mean all reasonable direct and indirect costs, fees and expenses of any type or nature whatsoever
incurred in connection with the performance of the duties of the Indemnitee as a member of the Board and includes, without limitation, any costs, fees or expenses incurred in connection with the preparation for, investigation of, and actual
prosecution, defense or settlement of, or acting as a witness in, any threatened, pending, current or completed action, suit, arbitration, alternative dispute mechanism, inquiry, judicial, administrative, or legislative hearing, investigation, or
any other proceeding, whether brought by or in the right of the Company or otherwise, including any and all appeals therefrom, whether of a civil, criminal, administrative, legislative, investigative, or other nature, attorneys’ fees, retainers
and expenses, witness fees and expenses, fees and expenses of accountants and other advisors, retainers and disbursements and advances thereon, the premium, security for, and other costs relating to any bond (including cost bonds, appraisal bonds,
or their equivalents), any expenses incurred by or on behalf of the Indemnitee in connection with preparing and submitting any requests or statements for indemnification, advancement, contribution or any other right provided for in this Agreement
and any expenses establishing a right to indemnification or advancement under this Agreement, but shall not include the amount of judgments, fines, ERISA excise taxes or penalties actually levied against the Indemnitee, or any amounts paid in
settlement by or on behalf of the Indemnitee. 
 (f) “Independent Counsel” shall mean a law firm, or a partner (or, if
applicable, member or shareholder) of such a law firm, that is experienced in matters of Delaware corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company, any subsidiary of
the Company, any Enterprise or Indemnitee in any matter material to any such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements); or (ii) any
other party to the Proceeding (as hereinafter defined) giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the

  
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applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine the Indemnitee’s
rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out of or
relating to this Agreement or its engagement pursuant hereto. 
 (g) “Proceeding” shall mean any threatened, pending or
completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether
of a civil, criminal, administrative, regulatory or investigative nature, and whether formal or informal, in which Indemnitee was, is or will be involved as a party or otherwise by reason of the fact that Indemnitee is or was a director or officer
of the Company or is or was serving at the request of the Company as a director, manager, officer, employee, agent or trustee of any Enterprise or by reason of any action taken by Indemnitee or of any action taken on his or her part while acting as
a director or officer of the Company or while serving at the request of the Company as a director, manager, officer, employee, agent or trustee of any Enterprise, in each case whether or not serving in such capacity at the time any liability or
expense is incurred for which indemnification, reimbursement or advancement of expenses can be provided under this Agreement; provided, however, that the term “Proceeding” shall not include any action, suit or arbitration, or part thereof,
initiated by Indemnitee to enforce Indemnitee’s rights under this Agreement. 
 2. Services to the Company. Indemnitee agrees to serve or
to continue to serve as a director or officer of the Company. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by law), in which event the Company shall
have no obligation under this Agreement to continue Indemnitee in such position. This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee. 

3. Indemnity in Third-Party Proceedings. Subject to Section 9, the Company shall indemnify, hold harmless and exonerate Indemnitee
in accordance with the provisions of this Section 3 if Indemnitee is, was or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its
favor. Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including all interest,
assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on his behalf in connection
with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding, had no
reasonable cause to believe that his conduct was unlawful. The parties hereto intend that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of that expressly permitted by statute, including, without
limitation, any indemnification provided by the Certificate of Incorporation, the Bylaws, vote of its stockholders or disinterested directors or applicable law. 

4. Indemnity in Proceedings by or in the Right of the Company. Subject to Section 9, the Company shall indemnify, hold harmless and
exonerate Indemnitee in accordance with the provisions of this Section 4 if Indemnitee is, was or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its
favor. Pursuant to this Section 4, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by him or on his behalf in connection with such Proceeding or any
claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company. If applicable law so provides, no indemnification for Expenses shall be made under
this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that the Delaware Court of Chancery or any court in
which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification. 

5. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provisions of this Agreement, to the
fullest extent permitted by applicable law and to the extent that 

  
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Indemnitee is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the
Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to
one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection with or related to each successfully
resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
shall be deemed to be a successful result as to such claim, issue or matter. 
 6. Indemnification for Expenses of A Witness. Notwithstanding
any other provision of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee, by reason of his Corporate Status, (a) is a witness in any Proceeding to which Indemnitee is not a party and is not
threatened to be made a party, or (b) receives a subpoena with respect to any Proceeding to which Indemnitee is not a party and is not threatened to be made a party, the Company shall reimburse Indemnitee for all Expenses actually and
reasonably incurred by him or her or on his or her behalf in connection therewith. 
 7. Additional Indemnification, Hold Harmless and Exoneration
Rights. Notwithstanding any limitations set forth in Sections 2, 3, or 4, but subject to Section 9, the Company shall indemnify, hold harmless and exonerate Indemnitee to the fullest extent permitted by
applicable law if Indemnitee is a party to or threatened to be made a party to or a participant in any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines
and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines and amounts paid in settlement) actually and reasonably incurred by or on
behalf of Indemnitee in connection with the Proceeding. 
 8. Contribution in the Event of Joint Liability. 

(a) To the fullest extent not prohibited by (and not merely to the extent affirmatively permitted by) law, if the indemnification rights
provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for
judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any
right of contribution it may have at any time against Indemnitee. 
 (b) The Company shall not enter into any settlement of any Proceeding
in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee. 

(c) The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be brought
by officers, directors or employees of the Company (other than Indemnitee) who may be jointly liable with Indemnitee. 
 9. Exclusions.
Notwithstanding any provision in this Agreement to the contrary, the Company shall not be obligated under this Agreement to make any indemnification payment in connection with any claim made against Indemnitee: 

(a) if indemnity is not lawful (and, in this respect, both the Company and Indemnitee have been advised that the Securities and Exchange
Commission believes that indemnification for liabilities arising under the federal securities laws is against public policy and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for
adjudication); 
 (b) if judgment is rendered against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee
of securities of the Company pursuant to the provisions of Section 16(b) of the Act or similar provisions of any federal, state or local law; 

  
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 (c) if Indemnitee’s conduct is finally adjudged to have been knowingly fraudulent or
deliberately dishonest, or to constitute willful or intentional misconduct; 
 (d) if Indemnitee’s conduct is established by a final
judgment as constituting a breach of Indemnitee’s duty of loyalty to the Company or resulting in any personal profit or advantage to which Indemnitee was not legally entitled; 

(e) for which payment is actually made to Indemnitee under a valid and collectible insurance policy or under a valid and enforceable indemnity
clause, bylaw or agreement, except in respect of any excess beyond payment under such insurance, clause, bylaw or agreement; or 
 (f) in
connection with any proceeding (or part thereof) initiated by Indemnitee, or any proceeding by Indemnitee against the Company or its directors, officers, employees or other agents, unless (i) such indemnification is expressly required to be
made by law, or (ii) the proceeding was authorized by the Board. 
 10. Advancement of Expenses. The Company shall advance, to the extent
not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding, and such advancement shall be made within 30 days after the receipt by the Company of a statement or statements requesting such advances (which shall
include invoices received by Indemnitee in connection with such Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditures made that would cause Indemnitee to waive any
privilege accorded by applicable law shall not be included with the invoice) from time to time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to
Indemnitee’s ability to repay the expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. Indemnitee shall qualify for advances upon the execution and delivery to
the Company of an undertaking to repay the advance if and to the extent it is ultimately determined that Indemnitee is not entitled to indemnification. The right to advances under this paragraph shall in all events continue until the final
disposition of any Proceeding. This Section 11 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 9. 

11. Procedure for Notification and Defense of Claim. 

(a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request therefor specifying the basis for
the claim, the amounts for which Indemnitee is seeking payment under this Agreement, and all documentation related thereto as reasonably requested by the Company. 

(b) In the event that the Company shall be obligated hereunder to provide indemnification for or make any advancement of Expenses with respect
to any Proceeding, the Company shall be entitled to assume the defense of such Proceeding, or any claim, issue or matter therein, with counsel approved by Indemnitee (which approval shall not be unreasonably withheld or delayed) upon the delivery to
Indemnitee of written notice of the Company’s election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this
Agreement for any fees or expenses of separate counsel subsequently employed by or on behalf of Indemnitee with respect to the same Proceeding; provided that (i) Indemnitee shall have the right to employ separate counsel in any such Proceeding
at Indemnitee’s expense and (ii) if (A) the employment of separate counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee shall have reasonably concluded that there may be a conflict of interest
between the Company and Indemnitee in the conduct of such defense, or (C) the Company shall not continue to retain such counsel to defend such Proceeding, then the reasonable fees and expenses actually and reasonably incurred by Indemnitee with
respect to his or her separate counsel shall be Expenses hereunder. 
 (c) In the event that the Company does not assume the defense in a
Proceeding pursuant to paragraph (b) above, then the Company will be entitled to participate in the Proceeding at its own expense. 

(d) The Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding effected
without its prior written consent (which consent shall not be unreasonably withheld or delayed). The Company shall not, without the prior written consent of Indemnitee (which 

  
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consent shall not be unreasonably withheld or delayed), enter into any settlement that (i) includes an admission of fault of Indemnitee, any non-monetary remedy imposed on Indemnitee or any
monetary damages for which Indemnitee is not wholly and actually indemnified hereunder or (ii) with respect to any Proceeding in respect of which Indemnitee may be or is made a party or may be otherwise entitled to seek indemnification
hereunder, does not include the full release of Indemnitee from all liability in respect of such Proceeding. 
 12. Procedure Upon Application of
Indemnification. 
 (a) To the extent that Indemnitee shall been successful on the merits in any Proceeding to which it is a party or
a participant or in defense of any claim, issue or matter therein, no determination shall be required to be made with respect to Indemnitee’s entitlement to indemnification hereunder. In all other cases, a determination with respect to
Indemnitee’s entitlement to indemnification hereunder shall be made in the specific case by one of the following methods: 
  

	 	(i)	If a Change in Control shall have occurred: 

  

	 	(A)	by Independent Counsel in a written opinion to the Board; or 

  

	 	(B)	if the Indemnitee so requests in writing, by a majority vote of the disinterested directors, even though less than a quorum. 

  

	 	(ii)	If a Change in Control shall not have occurred: 

  

	 	(A)	by a majority vote of the disinterested directors, even though less than a quorum; 

  

	 	(B)	by a committee of disinterested directors designated by a majority vote of the disinterested directors, even though less than a quorum; 

 

	 	(C)	if there are no disinterested directors or if the disinterested directors so direct, by Independent Counsel in a written opinion of the Board; or 

 

	 	(D)	if so directed by the Board, by the stockholders of the Company. 

 For purposes hereof,
disinterested directors are those members of the Board who are not parties to the action, suit or proceeding in respect of which indemnification is sought. In the case that such determination is made by Independent Counsel, a copy of Independent
Counsel’s written opinion shall be delivered to Indemnitee and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within 30 days after such determination. Indemnitee shall cooperate with
the Independent Counsel or the Company, as applicable, in making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such counsel or the Company, upon reasonable advance request, any
documentation or information that is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably necessary to such determination. Any out-of-pocket costs or expenses (including reasonable
attorneys’ fees and disbursements) actually and reasonably incurred by Indemnitee in so cooperating with the Independent Counsel or the Company shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement
to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 
 (b) If the determination of
entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a), the Independent Counsel shall be selected by the Board if a Change in Control shall not have occurred or, if a Change in Control shall have
occurred, by Indemnitee. Indemnitee or the Company, as the case may be, may, within ten days after written notice of such selection, deliver to the Company or Indemnitee, as the case may be, a written objection to such selection; provided, however,
that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 1 of this Agreement, and the objection shall set
forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected
may not serve as Independent 

  
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Counsel unless and until such objection is withdrawn or the Delaware Court has determined that such objection is without merit. If, within 20 days after the later of (i) submission by
Indemnitee of a written request for indemnification pursuant to Section 11(a), and (ii) the final disposition of the Proceeding, including any appeal therein, no Independent Counsel shall have been selected without objection, either
Indemnitee or the Company may petition the Delaware Court for resolution of any objection which shall have been made by Indemnitee or the Company to the selection of Independent Counsel and/or for the appointment as Independent Counsel of a person
selected by the court or by such other person as the court shall designate. The person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the
due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable
standards of professional conduct then prevailing). 
 13. Presumptions and Effect of Certain Proceedings.  

(a) To the extent permitted by applicable law, in making a determination with respect to entitlement to indemnification hereunder, it shall be
presumed that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 11(a) of this Agreement, and the Company shall have the burden of proof to
overcome that presumption in connection with the making of any determination contrary to that presumption. Neither (i) the failure of the Company or of Independent Counsel to have made a determination prior to the commencement of any action
pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor (ii) an actual determination by the Company or by Independent Counsel that Indemnitee has not met
such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 

(b) Termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of
guilty, nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith
and in a manner that he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his or her conduct was unlawful. 

(c) The knowledge and actions, or failure to act, of any director, manager, officer, employee, agent or trustee of the Company, any subsidiary
of the Company, or any Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 

14. Remedies of Indemnitee. 
 (a)
Subject to Section 14(f), in the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses
is not timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 12(a) of this Agreement within 60 days after receipt by the
Company of the request for indemnification for which a determination is to be made other than by Independent Counsel, (iv) payment of indemnification or reimbursement of expenses is not made pursuant to Section 5 or 6 or the
last sentence of Section 12(a) of this Agreement within 30 days after receipt by the Company of a written request therefor (which shall include any invoices received by Indemnitee but, in the case of invoices in connection with legal
services, any references to legal work performed or to expenditures made that would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice), or (v) payment of indemnification pursuant to
Section 3 or 4 of this Agreement is not made within 30 days after a determination has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication by the Delaware Court of Chancery of
his or her entitlement to such indemnification or advancement. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American
Arbitration Association. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this
Section 14(a); provided, however, that the foregoing time limitation shall not apply in respect of a proceeding brought by Indemnitee to enforce his or her rights under Section 5 of this Agreement. The Company shall not
oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 

  
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 (b) In the event that a determination shall have been made pursuant to Section 12(a)
of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and
Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 14, the Company shall have the burden of proving Indemnitee is not entitled to
indemnification or advancement, as the case may be. 
 (c) If Indemnitee is entitled to indemnification pursuant to
Section 12(a) of this Agreement, the Company shall be bound by such provision and/or determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) a misstatement by Indemnitee
of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable
law. 
 (d) The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this
Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all provisions of this Agreement.

 (e) The Company shall indemnify Indemnitee to the fullest extent permitted by law against any and all Enforcement Expenses and, if
requested by Indemnitee, shall (within 30 days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such Enforcement Expenses to Indemnitee, which are incurred by Indemnitee in connection with any
action brought by Indemnitee for indemnification or advancement from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company in the suit for which indemnification or
advancement is being sought. Such written request for advancement shall include invoices received by Indemnitee in connection with such Enforcement Expenses but, in the case of invoices in connection with legal services, any references to legal work
performed or to expenditures made that would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice. 

(f) Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement
shall be required to be made prior to the final disposition of the Proceeding, including any appeal therein. 
 15. Non-exclusivity; Survival or
Rights; Insurance; Subrogation. 
 (a) The rights of indemnification and to receive advancement as provided by this Agreement shall
not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. No
amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to
such amendment, alteration or repeal. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement than would be afforded currently under the Certificate of Incorporation,
Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or
remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder,
or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 
 (b) To the extent that the Company
maintains an insurance policy or policies providing liability insurance for directors, managers, officers, employees, agents or trustees of the Company or of any other Enterprise, Indemnitee shall be covered by such policy or policies in accordance
with its or their terms to the maximum extent of the coverage available for any such director, manager, officer, employee, agent or trustee under such policy or 

  
 8 

 
policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has directors’ and officers’ liability insurance in effect, the Company shall
give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on
behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies. 
 (c) In the event
of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all actions necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 
 (d) The Company shall not be
liable under this Agreement to make any payment of amounts otherwise indemnifiable (or for which advancement is provided hereunder) hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance
policy, contract, agreement or otherwise. 
 (e) The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who
is or was serving at the request of the Company as a director, officer, advisor, trustee, partner, managing member, fiduciary, employee or agent of any other Enterprise shall be reduced by any amount Indemnitee has actually received as
indemnification or advancement of Expenses from such other Enterprise. 
 16. Duration of Agreement. This Agreement shall continue until and
terminate upon the later of (a) ten years after the date that Indemnitee shall have ceased to serve as a director or officer of the Company or (b) one year after the final termination of any Proceeding, including any appeal, then pending
in respect of which Indemnitee is granted rights of indemnification or advancement hereunder and of any proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement relating thereto. This Agreement shall be binding upon
the Company and its successors and assigns and shall inure to the benefit of Indemnitee and his or her heirs, executors and administrators. The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 
 17.
Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this
Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be
affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to
the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby. 
 18.
Enforcement. 
 (a) The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations
imposed on it hereby in order to induce Indemnitee to serve or continue to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director or officer of the Company.

 (b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided; however, that this Agreement is a supplement to and in furtherance of the Certificate of
Incorporation, the Bylaws and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

  
 9 

 19. Modification and Waiver. No supplement, modification or amendment, or waiver of any provision
of this Agreement shall be binding unless executed in writing by the parties thereto. No waiver of any of the provisions of this Agreement shall be deemed to or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver
constitute a continuing waiver. No supplement, modification or amendment of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee
prior to such supplement, modification or amendment. 
 20. Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing
upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification, reimbursement or advancement as provided hereunder. The
failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation that it may have to Indemnitee under this Agreement or otherwise. 

21. Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given if (a) delivered by hand and received by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on
which it is so mailed, (c) sent by reputable overnight courier and received by the party to whom said notice or other communication shall have been directed or (d) sent by facsimile transmission, with receipt of oral confirmation that such
transmission has been received. 
  

	 	(a)	If to Indemnitee, at such address as Indemnitee shall provide to the Company. 

  

	 	(b)	If to the Company: 

 Malibu Boats, Inc. 

5075 Kimberly Way 
 Loudon,
Tennessee 37774 
 Attention:
[                    ] 
 or to any other address as may
have been furnished to Indemnitee by the Company. 
 22. Internal Revenue Code Section 409A. The Company intends for this Agreement to
comply with the Indemnification exception under Section 1.409A-1(b)(10) of the regulations promulgated under the Internal Revenue Code of 1986, as amended (the “Code”), which provides that indemnification of, or the purchase of
an insurance policy providing for payments of, all or part of the expenses incurred or damages paid or payable by the Indemnitee with respect to a bona fide claim against the Indemnitee or the Company do not provide for a deferral of compensation,
subject to Section 409A of the Code, where such claim is based on actions or failures to act by the Indemnitee in his capacity as a service provider of the Company. The parties intend that this Agreement be interpreted and construed with such
intent. 
 23. Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and
construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the
Company and Indemnitee hereby irrevocably and unconditionally (a) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Delaware Court of Chancery, and not in any other state or
federal court in the United States or any court in any other country, (b) consent to submit to the exclusive jurisdiction of the Delaware Court of Chancery for purposes of any action or proceeding arising out of or in connection with this
Agreement, (c) consent to service of process at the address set forth in Section 21 of this Agreement with the same legal force and validity as if served upon such party personally within the State of Delaware, (d) waive any
objection to the laying of venue of any such action or proceeding in the Delaware Court of Chancery, and (e) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court of Chancery has
been brought in an improper or inconvenient forum. 
 24. Headings. The headings of the paragraphs of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 

  
 10 

 25. Counterparts. This Agreement may be executed in one or more counterparts, each of which will be
deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. The exchange of copies of this Agreement and of signature pages by facsimile transmission or Portable
Document Format (PDF) shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile and PDF shall be
deemed to be their original signatures for any purposes whatsoever. 
 [Remainder of Page Intentionally Left Blank] 

  
 11 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year
first above written. 
  

			
	MALIBU BOATS, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	INDEMNITEE
		
	By:	 	  

	Name:	 	  

	Address :	 	  

		 	  

		 	  

  
 12EX-10.20

 Exhibit 10.20 

VOTING AGREEMENT 
 THIS
VOTING AGREEMENT (this “Agreement”) is made and entered into as of December     , 2013, by and among Malibu Boats, Inc., a Delaware corporation (the “Company”), Black Canyon Management LLC, a
Delaware limited liability company (“Black Canyon”), and Jack D. Springer, a resident of the State of Texas, Wayne D. Wilson, a resident of the State of Tennessee, and Ritchie L. Anderson, a resident of the State of Tennessee
(collectively, “Management”). 
 RECITALS 

WHEREAS, the Company is currently contemplating an underwritten initial public offering (“IPO”) of shares of its
Class A Common Stock, par value $0.01 per share (the “Class A Common Stock”); and 
 WHEREAS, in connection
with, and effective upon, the date of completion of the IPO (the “Closing Date”), the Company, Black Canyon and Management wish to set forth certain understandings between such parties, including with respect to certain governance
matters. 
 NOW, THEREFORE, the parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 1.1 Defined Terms. In addition to the terms defined elsewhere herein, the following terms have the following meanings
when used herein with initial capital letters: 
 (a) “Affiliate” means a Person that directly, or indirectly
through one or more intermediaries, Controls, or is Controlled by, or is under common Control with, the Person specified. 
 (b)
“Agreement” means this Voting Agreement, as the same may be amended, supplemented, restated or otherwise modified from time to time in accordance with the terms hereof. 

(c) “Beneficial Owner” or “beneficially own” has the meaning set forth in Rule 13d-3
promulgated under the Exchange Act. 
 (d) “Black Canyon” has the meaning set forth in the Preamble. 

(e) “Black Canyon Designee” has the meaning set forth in Section 2.1(a). 

(f) “Black Canyon Entities” means Black Canyon, Black Canyon Direct Investment Fund L.P., Black Canyon Investments
L.P., Canyon Value Realization Fund, L.P., Loudon Partners, LLC, The Canyon Value Realization Master Fund, L.P. and their respective successors and Permitted Assigns. 

(g) “Board” means the board of directors of the Company. 

(h) “Class A Common Stock” has the meaning set forth in the Preamble. 

(i) “Class B Common Stock” means the Class B Common Stock, par value $0.01 per share, of the Company. 

 (j) “Closing Date” has the meaning set forth in the Recitals. 

(k) “Company” has the meaning set forth in the Preamble. 

(l) “Control,” “Controlled by” and “under common Control with” means
possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise) of a Person. 

(m) “Director” means any member of the Board. 

(n) “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder, as the same may be amended from time to time. 
 (o) “Governmental Authority” means any nation or
government, any state or other political subdivision thereof, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

(p) “IPO” has the meaning set forth in the Recitals. 

(q) “Law” means any statute, law, regulation, ordinance, rule, injunction, order, decree, governmental approval,
directive, requirement, or other governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration of any of the foregoing by, any Governmental Authority. 

(r) “Management” has the meaning set forth in the Preamble. 

(s) “Permitted Assigns” means, with respect to the Black Canyon Entities, their respective Affiliates and any
Transferee of Voting Stock that is Transferred other than pursuant to a widely distributed public sale that agrees to become party to, and to be bound to the same extent as its transferor by the terms of, this Agreement. 

(t) “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint
stock company, a trust, a joint venture, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity under applicable Law, or any Governmental Authority or any department, agency or political
subdivision thereof. 
 (u) “Subsidiary” means, with respect to any Person, any corporation, limited liability
company, partnership, association or other business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of
directors, representatives or trustees thereof is at the time owned or Controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; or (ii) if a limited liability company,
partnership, association or other business entity, a majority of the total voting power of stock (or equivalent ownership interest) of the limited liability company, partnership, association or other business entity is at the time owned or
Controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company,
partnership, association or other business entity if such Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or Control the managing member,
managing director or other governing body or general partner of such limited liability company, partnership, association or other business entity. 

 (v) “Total Number of Directors” means the total number of Directors
comprising the Board. 
 (w) “Transfer,” “Transferor,” “Transferee”
and “Transferred” shall mean, with respect to any security, directly or indirectly, to sell, contract to sell, give, assign, hypothecate, pledge, encumber, grant a security interest in, offer, sell any option or contract to
purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of any economic, voting or other rights in or to such security. When used as a noun,
“Transfer” shall have such correlative meaning as the context may require. 
 (x) “Voting
Stock” means the Class A Common Stock or Class B Common Stock. 
 1.2 Construction. Wherever required by the
context of this Agreement, the singular shall include the plural and vice versa, and the masculine gender shall include the feminine and neuter genders and vice versa, and references to any agreement, document or instrument shall be deemed to refer
to such agreement, document or instrument as amended, supplemented or modified from time to time. When used herein: 
 (a) the word
“or” is not exclusive; 
 (b) the words “including,” “includes,” “included” and “include”
are deemed to be followed by the words “without limitation”; 
 (c) the terms “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision; and 

(d) all sections, paragraphs or clause references not attributed to a particular document shall be references to such parts of this Agreement.

 ARTICLE II 

CORPORATE GOVERNANCE MATTERS 

2.1 Board Composition. 

(a) Following the Closing Date, Black Canyon shall have the right, but not the obligation, to nominate to the Board a number of designees equal
to at least: (i) 20% of the Total Number of Directors, so long as the Black Canyon Entities and Management collectively beneficially own 15% or more of the voting power of the shares of Voting Stock entitled to vote generally in the election of
directors; and (ii) 10% of the Total Number of Directors, so long as the Black Canyon Entities and Management collectively beneficially own more than 5% but less than 15% of the voting power of the Voting Stock entitled to vote generally in the
election of directors. For purposes of calculating the number of Directors that Black Canyon is entitled to nominate pursuant to this Section 2.1(a), any fractional amounts shall be rounded up to the nearest whole number and the
calculation shall be made on a pro forma basis, including, for the avoidance of doubt, taking into account any increase in the size of the Board (e.g., one and one-third Directors equates to two Directors). In addition, Black Canyon shall have the
right to remove and replace its Director-designees at any time and for any reason and to nominate any individual(s) to fill any such vacancies. In the event that Black Canyon has nominated less than the total number of designees Black Canyon shall
be entitled to nominate pursuant to this Section 2.1(a), Black Canyon shall have the right, at any time, to nominate such additional designees to which it is entitled hereunder, in which case, the Company and the Directors shall take all
necessary corporate action, to the fullest extent permitted by applicable Law (including with respect to any fiduciary duties under Delaware 

 
law), to (i) enable Black Canyon to nominate and effect the election or appointment of such additional individuals, whether by increasing the size of the Board or otherwise and
(ii) designate such additional individuals nominated by Black Canyon to fill such newly-created vacancies. Each such person whom Black Canyon shall actually nominate pursuant to this Section 2.1(a) and who is thereafter elected to
the Board to serve as a Director shall be referred to herein as a “Black Canyon Designee.” 
 (b) In the event that a
vacancy is created at any time by the death, disability, retirement or resignation of any Director designated by Black Canyon pursuant to this Section 2.1, the remaining Directors and the Company shall, to the fullest extent permitted by
applicable Law (including with respect to any fiduciary duties under Delaware law), cause the vacancy created thereby to be filled by a new designee of Black Canyon, if such Director was designated by Black Canyon, as soon as possible, and the
Company hereby agrees to take, to the fullest extent permitted by applicable Law (including with respect to any fiduciary duties under Delaware law), at any time and from time to time, all actions necessary to accomplish the same. 

(c) The Company agrees, to the fullest extent permitted by applicable Law (including with respect to any fiduciary duties under Delaware law),
to include in the slate of nominees recommended by the Board for election at any meeting of stockholders called for the purpose of electing Directors the persons designated pursuant to this Section 2.1 and to nominate and recommend each
such individual to be elected as a Director as provided herein, and to solicit proxies or consents in favor thereof. The Company is entitled to identify such individual as a Black Canyon Designee pursuant to this Agreement. 

(d) In connection with any meeting of stockholders called or consent taken for the purpose of electing Directors, each member of Management
agrees to vote his respective shares of Voting Stock in favor of the Black Canyon Designees nominated by the Board. 
 ARTICLE III

 COVENANTS 
 3.1
Books and Records; Access. The Company shall, and shall cause its Subsidiaries to, keep proper books, records and accounts, in which full and correct entries shall be made of all financial transactions and the assets and business of the
Company and each of its Subsidiaries in accordance with generally accepted accounting principles. For so long as the Black Canyon Entities and Management collectively beneficially own 5% or more of the outstanding shares of the Voting Stock, the
Company shall, and shall cause its Subsidiaries to, permit Black Canyon and its designated representatives, at reasonable times and upon reasonable prior notice to the Company, to review the books and records of the Company or any of such
Subsidiaries and to discuss the affairs, finances and condition of the Company or any of such Subsidiaries with the officers of the Company or any such Subsidiary; provided, however, that the Company shall not be required to disclose any privileged
information of the Company so long as the Company has used its best efforts to enter into an arrangement pursuant to which it may provide such information to Black Canyon without the loss of any such privilege. 

3.2 Periodic Reporting. 

(a) The Company will promptly deliver to Black Canyon, when available, one copy of each annual report on Form 10-K and quarterly report on Form
10-Q of the Company, as filed with the SEC. In the event the Company is not required to file an annual report on Form 10-K or quarterly report on Form 10-Q, the Company may, in lieu of the requirements of the preceding sentence, deliver, or cause to
be delivered, the following to Black Canyon: 
 (i) as soon as available, but not later than 90 days after the end of each fiscal year of
the Company, a copy of the audited consolidated balance sheet of the Company and its Subsidiaries as of the end of such fiscal year and the related statements of operations and cash flows for such fiscal year, setting forth in each case in
comparative form the figures for the previous year, all in reasonable detail; and 

 (ii) as soon as available, but in any event not later than 45 days after the end of each of the
first three fiscal quarters of each fiscal year, the unaudited consolidated balance sheet of the Company and its Subsidiaries, and the related statements of operations and cash flows for such quarter and for the period commencing on the first day of
the fiscal year and ending on the last day of such quarter; provided, however, that the Company shall not be required to disclose any privileged information of the Company so long as the Company has used its best efforts to enter into an arrangement
pursuant to which it may provide such information to Black Canyon without the loss of any such privilege. 
 (b) The Company shall deliver
or cause to be delivered to Black Canyon: 
 (i) to the extent otherwise prepared by the Company, operating and capital expenditure budgets
and periodic information packages relating to the operations and cash flows of the Company and its Subsidiaries; and 
 (ii) such other
reports and information as may be reasonably requested Black Canyon; provided, however, that the Company shall not be required to disclose any privileged information of the Company so long as the Company has used its best efforts to enter into an
arrangement pursuant to which it may provide such information to Black Canyon without the loss of any such privilege. 
 ARTICLE IV

 AMENDMENT AND TERMINATION 

4.1 Amendment and Waiver. Except as otherwise provided herein, no modification, amendment or waiver of any provision of this
Agreement shall be effective against any party unless such modification, amendment or waiver is approved in writing by each of the parties to this Agreement. The failure of any party to enforce any of the provisions of this Agreement shall in no way
be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms. 

4.2 Termination of Agreement. This Agreement shall terminate on the earlier to occur of (a) such time as Black Canyon is no
longer entitled to nominate a Director pursuant to Section 2.1(a) and (b) upon the delivery of a written notice by Black Canyon to the Company requesting that this Agreement terminate. 

ARTICLE V 
 MISCELLANEOUS

 5.1 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be
given (and shall be deemed to have been duly given upon receipt) by delivery in person, by courier service, by fax, by electronic mail (delivery receipt requested) or by registered or certified mail (postage prepaid, return receipt requested) to the
respective parties at the following addresses (or at such other address for a party as shall be as specified in a notice given in accordance with this Section 5.1): 

	 	(a)	If to the Company: 

 Malibu Boats, Inc. 

5075 Kimberly Way 
 Loudon,
Tennessee 37774 
 Attention:
[                    ] 
 With a copy
to: 
 Waller Lansden Dortch & Davis, LLP 

511 Union Street, Suite 2700 

Nashville, Tennessee 37219 

Attention: J. Chase Cole, Esq. 
  

	 	(b)	If to Black Canyon: 

 Black Canyon Management LLC 

2000 Avenue of the Stars, 11th Floor 

Los Angeles, California 90067 

Attention: [                    ] 

5.2 Assignment. This Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors
and permitted assigns. This Agreement may not be assigned without the express prior written consent of the other parties hereto, and any attempted assignment, without such consents, will be null and void; provided, however, that Black Canyon shall
be entitled to assign, in whole or in part, to any of its Permitted Assigns without such prior written consent any of its rights hereunder. 

5.3 Third Parties. This Agreement does not create any rights, claims or benefits inuring to any Person that is not a party
hereto nor create or establish any third party beneficiary hereto. 
 5.4 Governing Law. This Agreement shall be governed by
and construed in accordance with the laws of the State of Delaware, without regard to principles of conflicts of laws thereof. 
 5.5
Jurisdiction; Waiver of Jury Trial. In any judicial proceeding involving any dispute, controversy or claim arising out of or relating to this Agreement, each of the parties unconditionally accepts the jurisdiction and venue of the Court
of Chancery of the State of Delaware or, if the Court of Chancery does not have jurisdiction over a particular matter, any state or federal court within the State of Delaware having jurisdiction, and the appellate courts to which orders and
judgments thereof may be appealed. In any such judicial proceeding, the parties agree that in addition to any method for the service of process permitted or required by such courts, to the fullest extent permitted by Law, service of process may be
made by delivery provided pursuant to the directions in Section 5.1. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING ANY DISPUTE, CONTROVERSY OR CLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT. 
 5.6 Specific Performance. Each party hereto acknowledges and agrees that in
the event of any breach of this Agreement by it, the other parties hereto would be irreparably harmed and could not be made whole by monetary damages. Each party accordingly agrees to waive the defense in any action for specific performance that a
remedy at law would be adequate and that the parties, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to specific performance of this Agreement without the posting of bond. 

 5.7 Entire Agreement. This Agreement sets forth the entire
understanding of the parties hereto with respect to the subject matter hereof. There are no agreements, representations, warranties, covenants or understandings with respect to the subject matter hereof other than those expressly set forth herein.
This Agreement supersedes all other prior agreements and understandings between the parties with respect to such subject matter. 
 5.8
Severability. If any provision of this Agreement, or the application of such provision to any Person or circumstance or in any jurisdiction, shall be held to be invalid or unenforceable to any extent, (i) the remainder
of this Agreement shall not be affected thereby, and each other provision hereof shall be valid and enforceable to the fullest extent permitted by Law, (ii) as to such Person or circumstance or in such jurisdiction such provision shall be
reformed to be valid and enforceable to the fullest extent permitted by Law and (iii) the application of such provision to other Persons or circumstances or in other jurisdictions shall not be affected thereby. 

5.9 Headings. The headings, subheadings and captions contained in this Agreement are included for convenience of
reference only, and in no way define, limit or describe the scope of this Agreement or the intent of any provision hereof. 
 5.10
Counterparts. This Agreement and any amendment hereto may be executed in any number of separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one Agreement (or amendment,
as applicable). 
 [Remainder of Page Intentionally Left Blank.] 

 IN WITNESS WHEREOF, the parties have executed this Voting Agreement on the date first above
written. 
  

			
	COMPANY:
	
	MALIBU BOATS, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	BLACK CANYON:
	
	BLACK CANYON MANAGEMENT LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	MANAGEMENT:
	
	  

	Jack D. Springer
	
	  

	Wayne D. Wilson
	
	  

	Ritchie L. Anderson

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