CONFIDENTIAL TREATMENT REQUESTED CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH THE COMMISSION
REDACTED
COPY
CONFIDENTIAL
TREATMENT REQUESTED
CONFIDENTIAL
PORTIONS OF THIS
DOCUMENT
HAVE BEEN REDACTED
AND
HAVE BEEN SEPARATELY
FILED
WITH THE COMMISSION
1
This
Agreement is entered into on January 13, 2005 between professional golfer,
XXX
XXXXXX,
(hereinafter referred to as “CONSULTANT”) and
XXXXX
GOLF,
LTD.
(hereinafter referred to as “XXXXX
GOLF”).
WITNESSETH
WHEREAS,
XXXXX
GOLF desires
to obtain the right to use the name, likeness and ENDORSEMENT of
CONSULTANT in
connection with the advertisement and promotion of XXXXX
GOLF’S PRODUCT;
NOW
THEREFORE, in
consideration of the mutual covenants contained herein and other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
CONTRACT
PERIOD
| 1. | TERM OF CONTRACT |
|
The
Term of this Agreement shall be for a period of [* ****]
years and [*****] months commencing the 1st day of September 2004 and
terminating the [*****] day of [*****]. |
| 2. |
DEFINITIONS |
As used
in this Agreement, the following terms shall be defined as set forth
below:
| A. | CONSULTANT’S “ENDORSEMENT” means the right to use the CONSULTANT’S name, fame, nickname, autograph, voice, facsimile, signature, photograph, likeness, and image in connection with the marketing, advertising, promotion and sale of XXXXX GOLF’S PRODUCT. |
| B. |
“PRODUCT”
shall mean all golf clubs including, but not limited to, metal xxxxx,
drivers, fairway woods, irons, iron-xxxxx, utility clubs, wedges, and
putters, bags, and headwear. |
| C. |
“MANDATORY
PRODUCTS”
shall
mean the following XXXXX
GOLF PRODUCTS
that CONSULTANT
must exclusively play/use in all Champions/Senior Professional Golf
Association (SPGA) and Professional Golf Association (PGA) events at all
times: |
[***** ] Confidential
Material redacted and filed separately with the Commission.
2
| 1. |
[*****]
|
| 2. |
Sufficient
[*****] to maintain total minimum of [*****]
XXXXX
GOLF
[*****] (includes [*****])[*****] at all
times |
| 3. |
[*****] |
| 4. |
[*****]
(CONSULTANT
may continue to place the [*****] logo on the [*****] consistent with
historical practice.) |
| D. |
“CONTRACT
TERRITORY”
shall mean the entire world. |
CONSULTANT’S
OBLIGATIONS
| 3. | CONSULTANT’S ENDORSEMENT |
CONSULTANT hereby
gives and grants to XXXXX
GOLF the
exclusive right and license to use CONSULTANT’S ENDORSEMENT in
connection with the manufacture, sale, distribution, advertising and promotion
of PRODUCT
in the
CONTRACT
TERRITORY.
|
4. |
EXCLUSIVITY
OF ENDORSEMENT |
|
During
the term of this Agreement, unless otherwise authorized at the sole
discretion of XXXXX
GOLF in
writing, CONSULTANT
shall not: |
| A. |
give
the right to use or permit the use of CONSULTANT’S
name, facsimile signature, nickname, voice or likeness to any other
manufacturer or seller of PRODUCT;
|
| B. |
sponsor
or endorse PRODUCT
made or sold by any other manufacturer or seller;
or |
| C. |
serve
as a CONSULTANT or
advisor of any other manufacturer or seller of PRODUCT.
|
| D. |
Notwithstanding
paragraphs 4A, 4B and 4C above, CONSULTANT
shall be entitled to endorse and play the [*****]. The parties expressly
agree that CONSULTANT
may
permit [*****] the use of CONSULTANT’S
name and/or likeness in [*****] print and/or television advertisement
provided that this is executed in a manner consistent with [*****] past
[*****] advertising practice using similarly situated professional golfers
with competing golf club endorsement agreements that include [*****]. If
[*****] use of CONSULTANT
varies from past practice of utilizing similarly situated professionals,
CONSULTANT
will take action to remedy the situation [*****]. If CONSULTANT
participates directly in any [*****] sponsored photo shoots for
advertising or PR, CONSULTANT
shall wear his XXXXX
GOLF
[*****]. The parties further expressly agree that CONSULTANT’S
endorsement of the [*****] shall not include the right to place a [*****]
logo on his XXXXX
GOLF
[*****] or the XXXXX
GOLF
[*****]. If CONSULTANT’S
relationship
with [*****] terminates during this Agreement, CONSULTANT
shall be permitted to replace the [*****] endorsement with another [*****]
endorsement under the same terms and conditions expressed
herein. |
[***** ] Confidential
Material redacted and filed separately with the Commission.
3
| E. |
Notwithstanding
paragraphs 4A, 4B and 4C above, CONSULTANT
shall not be required to wear XXXXX
GOLF
[*****] in [*****] ads. |
| 5. | EXCLUSIVE USE OF PRODUCT |
During
the term of this Agreement, CONSULTANT shall
exclusively play/use the MANDATORY
PRODUCT. (It is
expressly understood by the parties that CONSULTANT may play
[* ****] clubs in
the bag other than XXXXX
GOLF clubs
including, but not limited to, a putter by a manufacturer other than
XXXXX
GOLF but may
not endorse those clubs and/or putter.)
| 6. | CONSULTANT’S ENDORSEMENT OF NON-COMPETITIVE PRODUCT |
If
CONSULTANT
endorses
or promotes a non-competitive product and in that endorsement or promotion
CONSULTANT
wears,
plays, uses, holds or is in any way associated with a product that would
constitute PRODUCT
as
defined under this Agreement, CONSULTANT shall
use objectively reasonable best efforts to ensure that PRODUCT is an
XXXXX
GOLF PRODUCT and it
shall not be altered or changed in appearance in the endorsement in any manner
whatsoever without the express written consent of XXXXX
GOLF. When
endorsing a non-competitive product, under no circumstances shall CONSULTANT wear,
play, use, hold or in any way be associated with an XXXXX
GOLF
competitor’s Product.
| 7. | CONSULTANT’S SATISFACTION OF MANDATORY PRODUCT |
It is
particularly and expressly understood and agreed that if CONSULTANT shall
find in his sincere best reasonable judgment that the MANDATORY
PRODUCT so
supplied is not suitable for his use in tournament competition, then he shall
promptly notify XXXXX
GOLF in
writing of such fact and the reasons therefor. Thereafter, XXXXX
GOLF shall
have a period of thirty (30) days to either, at XXXXX
GOLF’S sole
discretion, supply CONSULTANT with
MANDATORY
PRODUCT that is
acceptable to him or terminate the agreement. It is agreed that if the contract
is terminated pursuant to this paragraph, the compensation due CONSULTANT shall be
prorated from the date this Agreement is terminated. Proration of compensation
shall be determined on the same repayment schedule as provide in paragraph 8A
below.
[***** ] Confidential
Material redacted and filed separately with the Commission.
4
|
8. |
MINIMUM
NUMBER OF TOURNAMENTS AND POTENTIAL REPAYMENT OF BASE
COMPENSATION |
| A. | In each and every calendar year of this Agreement, CONSULTANT shall achieve a satisfactory record of play in a minimum of [* ****] professional golf association events on the SPGA and/or PGA tour (which shall include both the PGA and SPGA Tour Skins Games). If for any reason, CONSULTANT should achieve a satisfactory record of play in less than [*****] SPGA and/or PGA tour events in a calendar year, he shall repay XXXXX GOLF an amount per event for each event under [*****] achieved in the given calendar year as follows: |
The agreed upon repayment amount per event per calendar
year:
1. Year 1.
$[*****]
2. Year 2
$[*****]
3. Year 3
$[*****]
4. Year 4
$[*****]
5. Year 5
$[*****]
| B. |
Payment
shall be made to XXXXX
GOLF
within one month following the end of the calendar year. For example, if
in the calendar year 2005 CONSULTANT
achieves a satisfactory record of play in [*****] events, he shall repay
XXXXX
GOLF [*****]
dollars no later than January 31, 2006. |
| C. |
In
the event that CONSULTANT is
prevented from competing for reasons outside his control, the parties
agree to a good faith attempt to resolve the issues. If a resolution can
not be reached, XXXXX
GOLF
may, at its sole discretion, demand prorated repayment pursuant to the
repayment schedule in paragraph 8A above. |
|
9. |
PRODUCT
DESIGN |
During
the term of this Agreement, CONSULTANT shall
use best efforts to cooperate with XXXXX
GOLF in giving
advice, suggestions and recommendations concerning the acceptability and
playability of current XXXXX
GOLF lines,
the development of new XXXXX
GOLF lines,
and information about significant golf PRODUCT and golf
market trends, and meet as reasonably requested with XXXXX
GOLF’S
Design/Testing Teams.
|
10. |
PROMOTION
OF PRODUCT |
|
|
During
the term of this Agreement, CONSULTANT
shall use best efforts to wear the headwear and display XXXXX
GOLF’S brand
name and to demonstrate, discuss and emphasize the newest features of
XXXXX
GOLF PRODUCT at
every opportunity including but not limited to all Senior PGA tour events
and promotional and advertising events in which CONSULTANT
takes part. |
[***** ] Confidential
Material redacted and filed separately with the Commission.
5
|
11. |
PROMOTIONAL
APPEARANCES |
| A. |
During
the term of this Agreement, CONSULTANT
shall use best efforts to be available for such press interviews, radio or
TV appearances arranged for CONSULTANT by
XXXXX
GOLF which
are compatible with CONSULTANT’S
own practice, play and personal time requirements. CONSULTANT
will be required to be available after a tournament for selected
interviews, either the Sunday afternoon or Monday morning following the
tournament. In all such interviews and appearances, CONSULTANT
will use his best efforts to make reference to the XXXXX
GOLF PRODUCT and
wear [*****] and display XXXXX
GOLF’S
brand name. |
| B. |
During
the term of this Agreement, CONSULTANT
shall make himself available on not more than [*****]
days for television and radio commercials, photo shoots, modeling and
promotional appearances compatible with CONSULTANT’S
own practice, play and personal time requirements. Said activities shall
be directly related to the promotion of XXXXX
GOLF PRODUCT.
XXXXX
GOLF shall
reimburse CONSULTANT
for reasonable travel expenses for CONSULTANT
when making special appearances for XXXXX
GOLF
pursuant to this paragraph but XXXXX
GOLF
shall not pay CONSULTANT
session fees, residual payments or the like for television appearances.
Travel expenses shall include jet fuel or first-class round-trip airfare
and lodging, meals and local
transportation. |
| 12. |
BEHAVIOR |
During
the term of this Agreement, CONSULTANT will
conduct himself at all times with due regard to public morals and conventions.
If the value of CONSULTANT’S ENDORSEMENT is
materially reduced or impaired because CONSULTANT:
| A. |
committed
or shall commit any public act that involves moral turpitude,
|
| B. |
commits
or violates any material foreign, U.S., federal, or other applicable state
or local law, |
| C. |
commits
any act which brings him into public disrepute, contempt, scandal or
ridicule, or which insults or offends the community,
|
| D. |
makes
any statements in derogation, in any material respect, of XXXXX
GOLF or
any of its affiliates or any of their respective PRODUCT or
services and such statement is made to the general public or becomes a
matter of public knowledge, |
then at
any time after the occurrence of such act, thing or statement, XXXXX
GOLF shall
have the right, in addition to its other legal and equitable remedies, to
immediately terminate this Agreement, by giving written notice to CONSULTANT.
XXXXX
GOLF must
exercise its right of termination within ninety (90) days of its senior
management becoming aware of the conduct giving rise to the right of
termination.
[***** ] Confidential
Material redacted and filed separately with the
Commission.
6
| 13. | FREEDOM TO CONTRACT |
|
CONSULTANT
represents and warrants that CONSULTANT is
free of all prior undertakings and obligations which would prevent or tend
to impair either the full performance of CONSULTANT’S
obligations hereunder or XXXXX
GOLF’S
full enjoyment of the rights and privileges granted to it by CONSULTANT. |
|
14. |
INDEMNITY |
|
CONSULTANT
agrees to protect, indemnify and hold XXXXX
GOLF harmless
from any and all liability, claims, causes of action, suits, damages and
expenses (including reasonable attorneys’ fees and expenses) for which it
becomes liable or is compelled to pay by reason of a breach of any
covenant or representation by CONSULTANT
in
this Agreement. |
| 15. | ABSENCE OF AGENCY |
CONSULTANT shall
not and will not have the right or authority to bind XXXXX
GOLF by any
representation or in any other respect whatsoever or to incur any obligation or
liability in the name of or on behalf of XXXXX
GOLF.
|
16. |
MEMBERSHIPS |
CONSULTANT warrants
and represents that during the term of this Agreement he is a member in good
standing of SAG, AFTRA or any other organization having jurisdiction over
CONSULTANT’S services
hereunder. This Agreement is subject to all of the terms and conditions of the
collective bargaining agreements with SAG, AFTRA, or any other union agreements
or codes having jurisdiction over CONSULTANT’S services
hereunder. Any and all payments required to be made to SAG or AFTRA or any other
organization having jurisdiction over CONSULTANT’S services
hereunder, shall be the sole responsibility of CONSULTANT.
XXXXX
GOLF’S OBLIGATIONS
| 17. | SUPPLY OF PRODUCT |
| A. |
During
the term of this Agreement, XXXXX
GOLF
shall provide CONSULTANT
with sufficient quantities of such MANDATORY
PRODUCTS
for CONSULTANT’S
use as CONSULTANT
may reasonably need to fulfill his obligations under this agreement.
XXXXX
GOLF
shall pay all charges in connection with the delivery of MANDATORY
PRODUCTS to
CONSULTANT. |
| B. |
In
addition to paragraph 17A above, XXXXX
GOLF
shall provide CONSULTANT
with [*****] sets of clubs for CONSULTANT’S
family and friends each calendar year of this
Agreement. |
[***** ] Confidential
Material redacted and filed separately with the
Commission.
7
| 18. | BASE COMPENSATION |
For the
entire term of this Agreement, from September 1, 2004 through
[*****] XXXXX
GOLF shall
pay CONSULTANT a base
compensation of [*****] dollars. The base compensation shall be paid
[*****].
| 19. | PERFORMANCE BONUSES AND TOTAL COMPENSATION LIMITATION |
|
A. |
In
addition to his base compensation, CONSULTANT
shall also be entitled to bonuses based on performance in particular PGA
and SPGA events and year-end standing as
follows: |
|
1.
|
If
CONSULTANT
wins a PGA Tour Major (consisting of the Masters, US Open, PGA and British
Open) or the Champion’s Tour (SPGA) US Open, CONSULTANT
shall receive a bonus of $ [*****]. |
|
2.
|
If
CONSULTANT
wins a Champions/Seniors Tour (SPGA) major other than the US Open (which
shall for the purposes of this agreement consist of the Senior PGA, Senior
British, the Tradition and the Ford Seniors) CONSULTANT
shall receive a bonus of $ [*****]. |
|
3. |
If
CONSULTANT
finishes in the top [*****] on the official year end money list of the
Champion’s Tour (SPGA), CONSULTANT
shall also be entitled to a year end performance bonus according to the
following schedule: |
| a. |
2005
$
[*****] |
| b. |
2006$
[*****] |
| c. |
2007$
[*****] |
| d. |
2008$
[*****] |
| e. |
2009$
[*****] |
| B. |
Notwithstanding
paragraph A and its subparts above, the maximum total annual bonuses shall
in no case exceed the following schedule: |
| 1. |
2005
$
[*****] |
| 2. |
2006$
[*****] |
| 3. |
2007$
[*****] |
| 4. |
2008$
[*****] |
| 5. |
2009$
[*****] |
(For
example, if in the calendar year [*****]CONSULTANT wins
every PGA tour major and finishes in the top [*****] on the official year end
money list of the Champion’s Tour (SPGA), CONSULTANT’S total
bonuses shall be [*****] dollars.
[***** ] Confidential
Material redacted and filed separately with the Commission.
8
| C. | In the event of XXXXX GOLF’S insolvency or bankruptcy, it is expressly agreed to by the parties that CONSULTANT shall not be obligated to repay any money so long as CONSULTANT continues to fully perform his obligations under this Agreement. |
| 20. | APPROVAL OF ADVERTISING |
|
Prior
to publishing or placing any advertising or promotional material which
uses CONSULTANT’S
name, facsimile signature, nickname, voice or likeness, XXXXX
GOLF shall
submit the same to CONSULTANT,
or CONSULTANT’S
designee, for approval, which approval shall not be unreasonably withheld
or delayed. If CONSULTANT
disapproves, the reasons therefore shall be given to XXXXX
GOLF in
writing within three (3) business days or shall be deemed approved.
XXXXX
GOLF
agrees to protect, indemnify and hold CONSULTANT
harmless from and against any and all expenses, damages, claims, suits,
actions, judgments and costs whatsoever, arising out of, or in any way
connected with, any advertising material furnished by, or on behalf of,
the company. |
| 21. | INDEMNITY |
|
XXXXX
GOLF agrees
to defend, indemnify and hold harmless CONSULTANT
from any and all liability, claims, causes of action, suits, damages and
expenses (including reasonable attorneys’ fees and expenses) for which he
becomes liable or is compelled to pay by reason of or arising out of any
claim or action for personal injury, death or otherwise involving alleged
defects in XXXXX
GOLF’S PRODUCT,
provided that XXXXX
GOLF is
promptly given notice in writing and is given complete authority and
information required for the defense, and XXXXX
GOLF shall
pay all damages or costs awarded therein against CONSULTANT
and any other cost incurred by CONSULTANT in
defense of any suit, but shall not be responsible for any cost, expense or
compromise incurred or made by CONSULTANT
without
XXXXX GOLF’S
prior written consent. |
TERMINATION
| 22. | FAILURE TO PLAY |
Notwithstanding
any other paragraph of this Agreement, in the event that CONSULTANT dies or
is unable to play tour golf at all, XXXXX
GOLF may
terminate this Agreement on thirty (30) days’ written notice. Upon such
termination, CONSULTANT and/or
CONSULTANT’S
estate
shall be required to repay XXXXX
GOLF for that
period of the Agreement not performed by CONSULTANT. The
repayment amount shall be calculated in the same way as repayment is calculated
under paragraph 8A.
9
|
23. |
TERMINATION FOR CAUSE |
Notwithstanding
any other paragraph of this Agreement, if either party commits any material
breach of this Agreement, the other party may terminate for cause upon giving
fifteen (15) days written notice of such cause and provided the breach is not
rectified within such fifteen (15) day period. Upon such termination,
CONSULTANT
shall be
required to repay XXXXX
GOLF for that
period of the Agreement not performed by CONSULTANT. The
repayment amount shall be calculated in the same way as repayment is calculated
under paragraph 8A.
| 24. |
XXXXX
GOLF’S RIGHTS UPON TERMINATION |
| A. |
In
the event of termination of this Agreement, XXXXX
GOLF
shall cease using the name and/or likeness of CONSULTANT in
advertising within [*****] days. |
| B. |
In
the event of termination of this Agreement, XXXXX
GOLF
shall cease using the name and/or likeness of CONSULTANT on
Product within [*****]
months after termination of this Agreement. |
MISCELLANEOUS
PROVISIONS
|
24. |
SIGNIFICANCE
OF HEADINGS |
Section
headings contained herein are solely for the purpose of aiding in speedy
location of subject matter and are not in any sense to be given weight in the
construction of this Agreement. Accordingly, in case of any question with
respect to the construction of this Agreement, it is to be construed as though
such section headings had been omitted.
|
25. |
APPLICABLE
LAW |
This
Agreement shall be governed and construed according to the laws of the State of
Kansas.
|
26. |
ENTIRE
AGREEMENT |
The
provisions of this Agreement are intended by the parties as a complete,
conclusive and final expression of their agreement concerning the subject matter
hereof, which Agreement supersedes all prior agreements concerning the subject
matter, and no other statement, representation, agreement or understanding, oral
or written, made prior to or at the execution hereof, shall vary or modify the
written terms hereof. No amendments, modifications or releases from any
provision hereof shall be effective unless in writing and signed by both
parties.
|
27. |
WAIVER |
Unless
otherwise mutually agreed in writing, no departure from, waiver of, or omission
to require compliance with any of the terms hereof by either party shall be
deemed to authorize any prior or subsequent departure or waiver, or obligate
either party to continue any departure or waiver.
[***** ] Confidential
Material redacted and filed separately with the
Commission.
10
|
28. |
EXECUTION
AND DELIVERY REQUIRED |
This
instrument shall not be considered to be an agreement or contract nor shall it
create any obligation whatsoever on the part of CONSULTANT or
XXXXX
GOLF unless
and until it has been signed by CONSULTANT, or a
duly authorized representative, and by duly authorized representatives of
XXXXX
GOLF and
delivery has been made of a fully signed original to both parties.
|
29. |
SEVERABILITY |
Any
provision or part of this Agreement prohibited by applicable law shall be
ineffective to the extent of such prohibition without invalidating the remaining
provisions or parts hereof.
|
30. |
RELATIONSHIP |
Both
parties agree that this Agreement does not constitute and shall not be construed
as a constituting of a partnership or joint venture between XXXXX
GOLF and
CONSULTANT. Neither
party shall have any right to obligate or bind the other party in any manner
whatsoever, and nothing herein contained shall give or is intended to give any
rights of any kind to any third person.
|
31. |
ASSIGNMENT
AND CHANGE OF CONTROL |
Neither
XXXXX
GOLF nor
CONSULTANT shall
have the right to grant sublicenses hereunder or to assign, alienate or
otherwise transfer any of its rights or obligations hereunder.
|
32. |
CONFIDENTIALITY |
Both
parties understand
that the contents of this Agreement, including, but not limited to, all amounts
paid or to be paid and
any additional consideration, are extremely confidential, and that disclosure of
same to any third party could be detrimental to the interests of one or both
parties. Therefore, both parties agree not to disclose the terms of this
Agreement, without the permission of the other party, to any third party other
than to CONSULTANT’S
business, legal and financial advisors, and with respect to all such advisors,
CONSULTANT shall
take all reasonable steps to ensure such confidentiality to XXXXX
GOLF.
Furthermore, CONSULTANT
recognizes that during the course of performing his duties hereunder he may
become aware of proprietary, confidential information concerning XXXXX
GOLF, its
PRODUCT,
methods, processes, billing practices, financial condition, etc., or information
XXXXX
GOLF designates
as confidential (collectively “Confidential Information”). CONSULTANT agrees
that he will maintain in confidence and not disclose to any third party at any
time any such Confidential Information and shall not use any such information to
the detriment of XXXXX
GOLF or for
any purpose not contemplated by the Agreement.
11
| 33. | ARBITRATION |
|
In
the event a dispute arises under this Agreement which cannot be resolved,
such dispute shall be submitted to arbitration and resolved by a panel of
three arbitrators (who shall be lawyers), in a decision required by a
majority of the arbitrators. If the parties cannot agree upon the panel of
three arbitrators, then each party may pick an arbitrator and the two
chosen arbitrators shall choose upon the three-arbitrator panel. The
arbitration shall be conducted in accordance with the Arbitration Rules of
the American Arbitration Association. Venue shall be Kansas. The award or
decision rendered by the arbitration panel shall be final, binding and
conclusive and judgment may be entered upon such award by any court of
competent jurisdiction. |
|
34. |
NOTICE |
Every
written notice or written report which may be served upon CONSULTANT,
according to the terms of this Agreement, may be served by enclosing it in a
postpaid envelope addressed to:
Mr. Xxx
Xxxxxx
C/O
Assured Management Company
0000 X.
00xx Xxxxx,
Xxxxx 000
Xxxxxxxx,
Xxxxxx 00000
or at
such other address as is given in writing to XXXXX
GOLF by
CONSULTANT.
Every
written notice which may be served upon XXXXX
GOLF,
according to the terms of this Agreement, shall be served by enclosing it in a
postpaid envelope addressed to:
Attention
Legal Department
XXXXX
GOLF, LTD.
0000 Xxxx
Xxxxx Xxxxxxx
Xxxxx,
Xxxxx 00000
or at
such other address as is given in writing by XXXXX
GOLF to
CONSULTANT.
12
IN
WITNESS WHEREOF, the
parties hereto have caused this Agreement to be executed as of the date first
set forth above.
| APPROVED FOR CONSULTANT | |||
| By: /s/ Xxx Xxxxxx | Date: January 13, 2005 | ||
|
Xxx Xxxxxx |
| ||
| APPROVED FOR XXXXX GOLF, LTD. | |||
| By: /s/ Xxxxxx X. “Chip” Xxxxxx III | Date: January 13, 2005 | ||
|
Xxxxxx X. (“Chip”) Xxxxxx III |
| ||
|
CEO, XXXXX GOLF |
13
