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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): January 13, 2005
Adams Golf, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 000-24583 75-2320087
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
300 Delaware Avenue, Suite 572
Wilmington, Delaware 19801
(Address of Principal Executive Offices) (Zip Code)
(302) 427-5892
Registrant's telephone number, including area code
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(b) under the
Exchange Act (17 CFR 240.14a-12(b))
[ ] 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))
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Item 1.01 Entry into a Material Definitive Agreement
On January 13, 2005 Adams Golf, Inc. (the "Company") entered into an
Endorsement Agreement with Tom Watson that extends the Company's
relationship with Mr. Watson. The Company first entered into a Golf
Consultant Agreement with Mr. Watson in August 1999, which was
renegotiated in September of 2002 and expired on August 31, 2004.
Under the terms of the Endorsement Agreement, Mr. Watson must meet
and maintain certain performance requirements, which include, but are
not limited to, exclusive use of the Company's products, display of
the Registrant's marks and logo during certain golf events,
participation in a minimum number of events and feedback on performance
of the Company's products. Mr. Watson shall receive compensation for
his endorsement, which includes bonuses based on performance in
particular PGA and SPGA events and bonuses based on annual SPGA tour
performance. Either the Company or Mr. Watson may terminate the
Endorsement Agreement with written notice upon the occurrence of certain
events, including a material breach of the Endorsement Agreement after
opportunity to cure.
SIGNATURE
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.
ADAMS GOLF, INC.
Date: January 13, 2005 By: /s/ ERIC LOGAN
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Eric Logan
Chief Financial Officer