UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) July 24, 2006
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ESCALADE, INCORPORATED
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(Exact Name of Registrant as Specified in Its Charter)
Indiana
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(State or Other Jurisdiction of Incorporation)
0-6966 13-2739290
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(Commission File Number) (IRS Employer Identification No.)
817 Maxwell Avenue, Evansville, Indiana 47711
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(Address of Principal Executive Offices) (Zip Code)
(260) 569-7208
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(Registrant's Telephone Number, Including Area Code)
251 Wedcor Avenue, Wabash, Indiana 46992
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Form 8-K
Section 1 - Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
In order to centralize its key executives into one location, Escalade,
Incorporated (the "Company") has relocated its corporate headquarters to
Evansville, Indian - the headquarters of its largest subsidiary: Escalade
Sports.
On July 24, 2006, the Company entered into a Relocation and Retention
Agreement with Terry D. Frandsen, the Company's Chief Financial Officer (the
"Executive"), to facilitate the Company's desire that the Executive relocate his
personal residence to Evansville, Indiana. The principal material terms of the
Agreement provide that the Company will purchase the Executive's home at its
recently appraised price and will pay the Executive cash bonuses in the
aggregate amount of $70,000, which bonuses are designed to minimize the
likelihood that the Executive would suffer personal financial loss as a result
of the move. The Agreement provides that the Company's total net out-of-pocket
expenses in connection with the Executive's relocation will not exceed $120,000.
If the Executive's employment with the Company would be terminated by the
Company without just cause or by the Executive without good reason, then the
Executive must reimburse the Company for all or part of such relocation payments
if such termination would occur prior to the third anniversary of the Agreement
in accordance with the schedule set forth in the Agreement.
Section 8- Other Events
Item 8.01 Other Events
Escalade, Incorporated (the "Company") has relocated its corporate
headquarters to Evansville, Indiana as described in Item 1.01 above.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Description
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10.1 Relocation and Retention Agreement dated July 24, 2006
by and between Escalade, Incorporated and Terry D.
Frandsen
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ESCALADE, INCORPORATED
By: /s/ TERRY D. FRANDSEN
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Terry D. Frandsen
Vice President and Chief Financial Officer
Date: July 26, 2006
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