EXHIBIT 10.13
AGREEMENT
THIS AGREEMENT IS BETWEEN XXXXXX XXXXXXXX (THE "PLAYER") AND TEARDROP GOLF
COMPANY (THE "COMPANY") AND IS MADE THIS 5TH DAY OF MAY, 1996.
1. BASE COMPENSATION For every Nike Tour Tournament Player that uses the
TearDrop putter, carries the TearDrop bag, and wears the TearDrop hat and shirt,
the Company shall pay Player $150 per week. The Company must provide a
reasonable quantity of hats, shirts, and a golf bag.
2. ADDITIONAL COMPENSATION
A. MAKING THE CUT For every week the Player qualifies for compensation
under paragraph one, and the Player makes the cut, Player shall earn an
additional $200 per tournament if the Player wears the shirt and hat, carries
the TearDrop bag, and uses the TearDrop putter during each and every day of the
Tournament.
B. TOURNAMENT BONUSES
1. WIN - Every time a Player wins a Nike Tour or PGA TOUR Tournament
Company shall pay Player $2500.
2. PLACE 2 - 5 - Every time a Player finishes two through five in a
Nike Tour or PGA TOUR Tournament, Company shall pay Player $500.
3. PLACE 6 - 10 - Every time a Player finishes six through ten in a
Nike Tour or PGA TOUR Tournament, Company shall pay Player $250.
C. YEAR END BONUSES
1. If Player finishes first on the year end Nike money list, Company
shall pay Player $10,000.
2. If Player finishes two through five on the year end Nike money
list, Company shall pay Player $2500.
3. If Player finishes six through ten on the Nike money list,
Company shall pay Player $1,000.
4. If Player finishes eleven through twenty on the year end Nike
money list, Company shall pay Player $500.
3. PAYMENTS Evaluations will be made on June 30, 1996, September 30, 1996,
and December 1, 1996 to determine the amount owed to Player under the above
paragraphs and payments will be made fifteen days thereafter.
4. PERSONAL APPEARANCES Player shall make 3 personal appearances if so
requested by the Company. Company shall pay for Player's travel expenses and
lodging, and said appearances shall not interfere with Player's Tournament or
golf schedule.
5. PLAYER'S ENDORSEMENT Player hereby endorses the TearDrop Putter and grants
the Company permission to use Player's name and likeness for promotional
purposes.
The Company
TearDrop Golf Company
By: /s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx
Its:President
The Player
/s/ Xxxxxx Xxxxxxxx
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Xxxxxx Xxxxxxxx
