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<SEC-DOCUMENT>0001263279-09-000090.txt : 20090619
<SEC-HEADER>0001263279-09-000090.hdr.sgml : 20090619
<ACCEPTANCE-DATETIME>20090619171323
ACCESSION NUMBER:		0001263279-09-000090
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20090615
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090619
DATE AS OF CHANGE:		20090619

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALL AMERICAN SPORTPARK INC
		CENTRAL INDEX KEY:			0000930245
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS RETAIL [5900]
		IRS NUMBER:				880203976
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24970
		FILM NUMBER:		09901997

	BUSINESS ADDRESS:	
		STREET 1:		6730 LAS VEGAS BOULEVARD
		STREET 2:		STE 4
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89119
		BUSINESS PHONE:		7027987777

	MAIL ADDRESS:	
		STREET 1:		5325 S VALLEY VIEW BLVD STE 4
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89118

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SAINT ANDREWS GOLF CORP
		DATE OF NAME CHANGE:	19940916
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<TYPE>8-K
<SEQUENCE>1
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<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WASHINGTON, D.C.</FONT></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">FORM 8-K</FONT><BR>
<BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">CURRENT REPORT</FONT><BR>
<BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to Section 13 of 15(d) of the</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Securities Exchange Act of 1934</FONT></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">June 15, 2009</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">------------------------------------------------</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of Report (date of earliest event reported)</FONT><BR>
<BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">ALL-AMERICAN SPORTPARK, INC.</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">----------------------------------------------------</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exact name of Registrant as Specified in its Charter</FONT></P>
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     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Nevada</FONT>&nbsp;</TD>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">0-024970</FONT>&nbsp;</TD>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">88-0203976</FONT>&nbsp;</TD></TR>
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     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">--------------------------------</FONT>&nbsp;</TD>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">-------------------</FONT>&nbsp;</TD>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">--------------------</FONT>&nbsp;</TD></TR>
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     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">State or Other Jurisdiction</FONT>&nbsp;</TD>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Commission File</FONT>&nbsp;</TD>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">IRS Employer</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">of Incorporation</FONT>&nbsp;</TD>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Number</FONT>&nbsp;</TD>
     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Identification Number</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">6730 South Las Vegas Boulevard, Las Vegas, NV 89119</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">------------------------------------------------------------------------</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Address of Principal Executive Offices, Including Zip Code</FONT><BR>
<BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(702) 798-7777</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">----------------------------------------------------------------</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Registrant's Telephone Number, Including Area Code</FONT></P>
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     <TD align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">satisfy the filing obligation of the registrant under any of the following provisions:</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">[ ] Written communications pursuant to Rule 425 under the Securities</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Act(17 CFR 230.425)</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(17 CFR 240.14a-12)</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange Act (17 CFR 240.14d-2(b))</FONT>&nbsp;</TD></TR>
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     <TD align=left></TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange Act (17 CFR 240.13e-4(c))</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=center>&nbsp;</P>
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<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.</FONT></P>
<P align=left><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Callaway Customer Agreement</FONT></U></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On June 19, 2009, All-American Golf Center, Inc. ("AAGC"), a subsidiary of All-American SportPark, Inc. (the "Company") entered into a Customer Agreement with Callaway Golf Company ("Callaway") and Saint Andrews Golf Shop, Ltd. ("Saint Andrews") pursuant to which Callaway has agreed to make certain cash payments and other consideration to AAGC and Saint Andrews in exchange for an exclusive marketing arrangement for the Callaway Golf Center operated by AAGC. Callaway is a major golf equipment manufacturer and supplier.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Saint Andrews, which subleases space at the Callaway Golf Center and operates a golf equipment store at the Callaway Golf Center, is owned by Ronald Boreta, the Company's President, and John Boreta, the brother of Ronald Boreta and a principal shareholder of the Company.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Customer Agreement with Callaway provides that Callaway will provide Saint Andrews with a $250,000 annual advertising contribution in the form of golf related products. In addition, Saint Andrews will have an opportunity to earn additional credits upon reaching a sales threshold.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In connection with the signing of the Customer Agreement, AAGC will receive a one-time payment of $750,000 to be used for operating expenses or other business expenses. AAGC also will receive a contribution of up to $500,000 to be used for upgrading the driving range facility at the Callaway Golf Center. In addition, AAGC will receive up to $750,000 to be used to remodel and improve the facilities at the Callaway Golf Center, such as the pro shop and retail area; upgraded fitting bay technology and graphics; and enhanced exterior signage. Callaway will also provide staff uniforms, range golf balls and rental golf equipment for AAGC's use at the Callaway Golf Center.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Both AAGC and Saint Andrews have agreed to exclusively sell only Callaway golf products at the Callaway Golf Center for the term of the Customer Agreement. The Customer Agreement will terminate on December 31, 2013 if Callaway gives notice during November 2013 and if no notice is given it will terminate on December 31, 2018.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As part of the Customer Agreement, Saint Andrews has agreed to reimburse AAGC for marketing expenses on an annual basis as agreed upon by the parties.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The above summary of the Customer Agreement is qualified in its entirety by reference to the complete Customer Agreement which is filed as Exhibit 10.1 to this report.</FONT></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"></FONT>&nbsp;</P>
<P align=center>2</P>
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<P align=left><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Transfer of Stock of AAGC</FONT></U></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">n June 15, 2009, the Company entered into a Stock Transfer Agreement with Saint Andrews pursuant to which the Company transferred 49% of the outstanding common stock of AAGC to Saint Andrews in exchange for the cancellation of $600,000 of debt owed by the Company to Saint Andrews. The transfer of 49% of the common stock of AAGC was authorized by the Company's Board of Directors at which all of the Company's Directors voted in favor of the transfer, except that Ronald Boreta abstained from such vote. In connection with this transaction, the Company engaged Houlihan Valuation Advisors ("HVA") to provide an estimate of the fair market value of a 49% interest in AAGC. As a result of their analysis, HVA was of the opinion that the fair market value of a 49% interest in AAGC was approximately $600,000. The Board of Directors determined to use this value as the amount to be received from Saint Andrews for the 49%
 interest.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Saint Andrews is owned by Ronald Boreta and John Boreta, his brother. John Boreta is also a principal shareholder of the Company. The debt owed by the Company to Saint Andrews was from advances made in the past by Saint Andrews to provide the Company with working capital.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The above summary of the Stock Purchase Agreement is qualified in its entirety by reference to the complete Customer Agreement which is filed as Exhibit 10.2 to this report.</FONT></P>
<P align=left><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Employment Agreement with John Boreta</FONT></U></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On June 15, 2009, AAGC entered into an employment agreement with John Boreta, a principal shareholder of the Company. John Boreta has been general manager of AAGC for over 12 years. The employment agreement is for a period through May 31, 2012 and provides for a base annual salary of $75,000. The terms of the employment agreement with John Boreta are more fully described in the complete employment agreement which is filed as Exhibit 10.3 to this report.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On June 15, 2009, the Company entered into an addendum to the employment agreement with Ronald Boreta, President of the Company. The addendum provides that the employment agreement is extended for a period through May 31, 2012 and that the base annual salary for Ronald Boreta is $120,000. The terms of the addendum to the employment agreement are more fully described in the complete addendum to the employment agreement which is filed as Exhibit 10.4 to this report.</FONT></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"></FONT>&nbsp;</P>
<P align=center>3</P>
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<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">ITEM 8.01 OTHER INFORMATION.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Company has been informed that Robert R. Rosburg, a Director of the Company, died on May 14, 2009 at the age of 82. The Board of Directors has not yet made any decision with regard to the vacancy that now exists on the Board of Directors.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d) Exhibits.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exhibit</FONT></B><BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><U>No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Description&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </U></FONT></B></P>
<TABLE cellSpacing=0 border=0>
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     <TD vAlign=top noWrap width="2%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.1</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Customer Agreement among All-American SportPark, Inc.; All-American Golf Center, Inc.; Saint Andrews Golf Shop, Ltd.; and Callaway Golf Company dated June 19, 2009.</FONT> </TD></TR>
<TR>
     <TD vAlign=top noWrap width="2%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.2</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Stock Transfer Agreement among All-American SportPark, Inc.; Saint Andrews Golf Shop, Ltd. and All-American Golf Center, Inc. dated June 15, 2009.</FONT> </TD></TR>
<TR>
     <TD vAlign=top noWrap width="2%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.3</FONT>&nbsp; &nbsp; &nbsp; </TD>
     <TD width="98%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Employment Agreement between John Boreta and All-American Golf Center, Inc. dated June 19, 2009.</FONT> </TD></TR>
<TR>
     <TD vAlign=top noWrap width="2%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.4</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
     <TD width="98%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Addendum No. 2 to Employment Agreement between Ronald Boreta and All- American SportPark, Inc. dated June 15, 2009.</FONT> </TD></TR></TABLE>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">SIGNATURE</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">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.</FONT></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">ALL-AMERICAN SPORTPARK, INC.</FONT></P>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: June 19, 2009</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By:</FONT>&nbsp;</TD>
     <TD align=left><FONT face="Times New Roman"><U>/s/ Ronald S. Boreta&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </U></FONT></TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD vAlign=top align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ronald S. Boreta, President</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"></FONT>&nbsp;</P>
<P align=center>4</P>
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<P align=left><FONT face="Times New Roman"><B>Exhibit 10.1</B></FONT></P>
<P align=center><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">CUSTOMER AGREEMENT</FONT></U></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Customer Agreement (this &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Agreement </FONT></U><FONT face="TimesNewRomanPSMT,Times &#13;&#10;New Roman,Times,serif">&#148;), effective as of the last date on the signature page (the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Effective Date </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">&#148;), by and between </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">CALLAWAY GOLF COMPANY </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Callaway </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), a Delaware corporation, with offices at 2180 Rutherford Road, Carlsbad, California 92008, </FONT><FONT face="TimesNewRomanPSMT,Times New Roman
,Times,serif"><U>SAINT ANDREWS GOLF SHOP, LTD.</U>&nbsp; </FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Saint Andrews </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), a Nevada limited liability company, with offices at 5325 South Valley View Boulevard, Suite 4, Las Vegas, Nevada 89118, and </FONT><U><FONT face="TimesNewRomanPSMT,Times &#13;&#10;New Roman,Times,serif">ALL -AMERICAN GOLF CENTER, INC. </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">AAGC </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), a Nevada corporation, with offices at 6730 South Las Vegas Boulevard, Las Vegas, Nevada 89119. Callaway, Saint Andrews, and AAGC are sometimes hereinafter referred to individually as a &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Par
ty </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;, and together, as the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">Parties </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;.</FONT></P>
<P align=center><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">R E C I T A L S </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, on December 30, 1998 (the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Acquisition Date </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), All-American Golf, LLC (the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">LLC </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) and AAGC, entered into an asset purchase agreement in which the LLC sold to AAGC substantially all of the assets of a golf facility on approximately 42 acres of land on Las Vegas Boulevard in Las Vegas, Nevada, including a golf course, driving range, performance center, training facility and golf shop (the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Center </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;); and</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, AAGC is the operator of the Center; and</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, on the Acquisition Date, Callaway and Saint Andrews Golf Corporation entered into: (i) a trademark license agreement (the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Trademark License </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) in which Callaway granted LLC the right to use certain marks; and (ii) a software license agreement in which Callaway granted the LLC the right to use certain software programs, all in connection with its operation of the Center; and</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, the software license agreement was subsequently superseded by comparable provisions in a Callaway Golf performance center agreement, which expired according to its terms, but which the Parties have been operating under notwithstanding its expiration (together, the &#147;Software License&#148;); and</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, AAGC is the successor-in-interest with respect to the licenses granted by both the Trademark License and the Software License; and</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, Callaway, AAGC, and Saint Andrews desire to set forth their understanding regarding certain improvements to be made to the Center, and the purchase of Callaway Golf&#174; branded Golf Related Products (as defined in Section 2.2 below) to be sold at the Center.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">NOW, THEREFORE, in consideration of the foregoing recitals, the mutual benefits to be derived by the Parties, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Callaway Contributions </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. In consideration of the agreements set forth herein, Callaway will make the contributions (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Contributions </FONT></U><FONT face="TimesNewRomanPSMT,Times &#13;&#10;New Roman,Times,serif">&#148;) set forth below at the times and for the purposes indicated.</FONT></P>
<P align=center>1</P>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.1. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Advertising and Marketing </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Callaway shall pay to Saint Andrews an advertising and marketing contribution during each calendar year in the amount of $250,000 (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Advertising Contribution </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) in the form of Golf Related Products supplied by Callaway&#146;s affiliate, Callaway Golf Sales Company (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times &#13;&#10;New Roman,Times,serif">CGSC </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), at no charge, based on CGSC&#146;s normal wholesale prices in effect from time to time (&#147; </FONT><U><FONT face="TimesNewRom
anPSMT,Times &#13;&#10;New Roman,Times,serif">No Charge Product </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;). This Advertising Contribution will be pro-rated (i.e., reduced) during calendar year 2009 to take into consideration the number of days that will elapse between the Effective Date and December 31, 2009, and AAGC&#146;s Marketing requirement in Section 2.1 below during calendar year 2009 will likewise be reduced by a commensurate amount.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.2. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Retail Performance </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. If Saint Andrews&#146; purchases of Golf Related Products for resale at, and only at, the Center from CGSC exceeds $1,000,000 during any calendar year of the Term (the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">Threshold Amount </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), including, without limitation, the 2009 calendar year (regardless of the Effective Date), then Saint Andrews will be entitled to receive $250 of credit for each $1,000 of its purchases of Golf Related Products from CGSC that exceed the Threshold Amount, up to a total of $250,000 of credit, for the subject calendar year (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,T
imes New Roman,Times,serif">Credit </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;). Saint Andrews may, at its discretion, use the Credit to offset against or pay any amounts due to CSGC on any outstanding invoices.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.3. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Equipment Supply </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Callaway shall provide AAGC, at no charge, with a sufficient supply of: (a) range balls, which shall be at least 15,000 dozens per calendar year; and (b) staff uniforms, consisting of pants, shirts, wind-shirts, and shoes in the amounts and as set forth more fully on </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibit &#147;A&#148;</FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Furthermore, Callaway shall provide AAGC for use at the Center with sixty (60) sets of rental clubs (which will be on consignment to AAGC) in addition to demonstration clubs consisting of two hundred (200) woods (for which AAGC will be charged at 40% off CGSC&#146;s normal wholesale prices) 
and one hundred (100) six-irons (at no charge). The rental clubs and demonstration clubs provided by Callaway shall be reasonably replaced in order to account for wear and tear as well as to ensure that the Center is provided with up to date models.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.4. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Upgrade Range Area </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Callaway shall provide a contribution to AAGC of not more than $500,000 in the aggregate (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Range Contribution </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) to be used for improvements to the driving range landing area, short game practice area and putting green at the Center, provided Callaway Golf&#174; branding elements reasonably satisfactory to Callaway are utilized in connection with all such improvements when practicable. The Parties shall use their best efforts to complete the improvements to the driving range landing area, short game practice area and putting green at the Center during the Center&#
146;s offseason in July and August of 2009, but in any event they shall be completed during the calendar year of 2009. The design of such improvements as well as the vendors used for such improvements shall be mutually agreed upon by Callaway and AAGC prior to the commencement of any work. The Parties agree that AAGC will take primary responsibility for planning and implementing these improvements, including, without limitation, obtaining bids and estimates and specifying contractors or vendors of labor or materials. However, prior to AAGC&#146;s accepting any bids or estimates, or selecting contractors or vendors, Callaway will be given an opportunity to obtain competitive bids or estimates, or suggest competitive contracts or vendors, provided that Callaway does not unreasonably delay such improvements, and AAGC will cooperate with Callaway in such efforts. Advances of the Range Contribution shall be made by Callaway directly to the applicable contractors and vendors</FONT></P>
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<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">completing the work at the times and in accordance with the schedules agreed to with such contractors and vendors for the improvements contemplated in this Section 1.4 provided such improvements are completed to Callaway&#146;s reasonable satisfaction.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.5. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Remodel Facility </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Callaway shall provide a contribution to AAGC of not more than $750,000 in the aggregate (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Improvement Contribution </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) to be used for improvements to the facilities at the Center, which improvements may include, without limitation: improvements to the pro shop and retail area; upgraded fitting bay technology and graphics; and enhanced exterior signage and graphics; provided Callaway Golf&#174; branding elements reasonably satisfactory to Callaway are utilized in connection with all such improvements. The Parties shall use their best efforts to complete the improveme
nts to facilities at the Center during the Center&#146;s offseason in July and August of 2009, but in any event shall be completed during the calendar year of 2009. The design of such improvements as well as the vendors used for such improvements shall be mutually agreed upon by Callaway and AAGC prior to the commencement of any work. The Parties agree that Callaway will take primary responsibility for planning and implementing these improvements, including, without limitation, obtaining bids and estimates and specifying contractors or vendors of labor or materials, and AAGC will cooperate with Callaway in a commercially reasonable manner. Advances of the Improvement Contribution shall be made by Callaway directly to the applicable contractors and vendors completing the work at the times and in accordance with the schedules agreed to with such contractors and vendors for the improvements contemplated in this Section 1.5 provided such improvements are completed to Callaway&#146;s reasonable satisfaction.</FON
T></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.6. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Business Operation Expenses </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Within fifteen (15) calendar days following the Effective Date, Callaway shall provide to AAGC a one time cash contribution of $750,000 (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Operation Contribution </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) to be used for AAGC&#146;s operating expenses or business expenses, which expenses may include, without limitation, rent, utilities, wages, loans, maintenance, or any other costs, provided, however, that if any improvements are constructed or modified, reasonable efforts shall be used, where practicable, to include Callaway Golf&#174; branding elements reasonably satisfactory to Callaway. When 
making any payments to third parties with the proceeds of the Operation Contribution, AAGC will, within a reasonable time, provide Callaway with a breakdown detailing the amount and purpose of the proposed payments and the name of the proposed third party payees together with such additional detail or other information as Callaway reasonably requests.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">AAGC&#146;s and Saint Andrews&#146; Obligations </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.1. During each calendar year, AAGC shall expend an amount equal to or exceeding $250,000 for advertising, marketing and promotion for the Center (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Marketing </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) in a form that is reasonably satisfactory to Callaway, and AAGC will provide Callaway with such information, materials and reports in such form, with such detail, and at such times as Callaway reasonably requests for it to confirm that such expenditures have been made by AAGC for such purposes. In exchange for AAGC&#146;s Marketing, Callaway shall pay the Advertising Contribution to Saint Andrews set forth herein at Section 1.1.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.2. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Purchases </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. AAGC and Saint Andrews hereby agree that at all times during the Term it will purchase all Golf Related Products to be sold at the Center exclusively from</FONT></P>
<P align=center>3</P>
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<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Callaway or an authorized licensee of the Callaway Golf&#174; brand, unless Callaway or an authorized licensee does not sell the desired product. Subject to the preceding sentence, in no event will AAGC or Saint Andrews purchase any Golf Related Products to be sold at the Center that are competitive to those sold by Callaway or an authorized licensee of the Callaway Golf&#174; brand. Before purchasing any Golf Related Products to be sold at the Center that may be competitive, AAGC and Saint Andrews will notify Callaway in writing, and Callaway will determine, in its reasonable judgment and in good faith, whether such proposed Golf Related Products are competitive. For the purposes of this Agreement, the term &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Golf Related Products </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148; means any products solely used or worn while playing the 
game of golf including, without limitation, golf clubs, golf balls, golf bags, golf shoes and other golf equipment, golf apparel and headwear, golf accessories, and golf lifestyle inspired products. The foregoing restrictions specifically do not include any item not sold by Callaway or an authorized licensee of the Callaway Golf&#174; brand. However, AAGC and Saint Andrews agree that Callaway shall have the right to approve each other item to be sold at the Center, with the understanding that Callaway&#146;s approval will not be unreasonably withheld if, in its reasonable judgment and in good faith, Callaway determines that the subject item is not inconsistent with the Callaway Golf&#174; brand and the image that Callaway desires to portray for its brand at the Center.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.3. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reimbursement to AAGC </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. In consideration for AAGC&#146;s Marketing, Callaway&#146;s Advertising Contribution, and the Credit, Saint Andrews shall reimburse AAGC in the amount of the Advertising Contribution on an annual basis to be paid at the time and in the manner as agreed between AAGC and Saint Andrews.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.4. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Contributions Used For Purposes Specified </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. AAGC covenants to Callaway to use the Range Contribution, Improvement Contribution and Operation Contribution for the purposes so specified, and will provide Callaway with such information, materials and reports in such form, with such detail, and at such times as Callaway reasonably requests for it to confirm that payments have been made by AAGC, or that such contributions are otherwise being utilized, for such purposes. Callaway and its auditors shall have the right, upon reasonable advance notice and during normal business hours, to review AAGC&#146;s books and records in order to confirm that such payments have been made, or that such contributions are otherwise being utilized, for such purpose
s. The foregoing right to review books and records shall not be exercised by Callaway more than twice in any calendar year.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">3. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other Agreements </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Section 9.1 of the Trademark License is amended so that such agreement shall expire or terminate contemporaneously with the expiration or termination of this Agreement notwithstanding anything in Section 9.1 of the Trademark License to the contrary. In addition, contemporaneously with the execution and delivery of this Agreement, the Parties will execute and deliver that certain Callaway Golf Performance Center Agreement in the form attached hereto as </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibit &#147;B&#148;</FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. For the purposes of this Agreement, the term &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">Other Agre
ements </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148; means, together, the Trademark License and the Callaway Golf Performance Center Agreement.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Term and Termination </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.1. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Term </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Subject to the provisions of Section 4.3 below, the term of this Agreement shall commence on the Effective Date and expire automatically upon the termination</FONT></P>
<P align=center>4</P>
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<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">of that certain Lease Agreement (the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Term </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">&#148;), dated June, 1997 (along with any and all addendums, amendments, extensions, and other modifications thereto, collectively, the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lease </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), entered into by Urban Land of Nevada, a Nevada corporation (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Landlord </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), and AAGC&#146;s predecessor, the LLC, which premises under such Lease encompasses the Center. Callaway hereby acknowledges and agrees that it has received and reviewed a copy of the Lease. It is understood and agreed by the Parties
 that the Range Contribution, Improvement Contribution and Operation Contribution will be made by Callaway only once during the Term.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.2. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Expiration Repayment </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Upon the expiration of the Term, provided that: (i) the Range Contribution, the Improvement Contribution, and the Operation Contribution have all been paid from Callaway to AAGC; (ii) AAGC receives monetary payment from Landlord in consideration for the termination of the Lease; and (iii) the expiration of the Term takes place prior to the fifth (5</FONT><SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">th </FONT></SUP><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">) anniversary of the Effective Date, then within sixty (60) days of the expiration of the Term, AAGC shall repay to Callaway the Range Contribution, the Improvement Contribution, and the Operation Contribution, l
ess twenty percent (20%) thereof for each year that passes after the Effective Date (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Repayment </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;). In other words, provided that items (i), (ii), and (iii) above have been satisfied, if the Term expires: (a) on or prior to the expiration of the first (1 </FONT><SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">st</FONT></SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">) anniversary of the Effective Date, the Repayment shall be $2,000,000; (b) on or prior to the expiration of the second (2 </FONT><SUP><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">nd </FONT></SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">) anniversary of the Effective Date, the Repayment shall be $1,600,000; (c) on or prior to the expiration of the third (3 </FONT><SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">r
d </FONT></SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">) anniversary of the Effective Date, the Repayment shall be $1,200,000; (d) on or prior to the expiration of the fourth (4</FONT><SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">th </FONT></SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">) anniversary of the Effective Date, the Repayment shall be $800,000; and (e) on or prior to the expiration of the fifth (5 </FONT><SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">th </FONT></SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">) anniversary of the Effective Date, the Repayment shall be $400,000. Notwithstanding the above, and in addition to the Repayment, upon the expiration of the Term, Saint Andrews shall repay to Callaway any Contributions described in Sections 1.1, 1.2, or 1.3 paid from Callaway to Saint Andrews or AAGC for the calendar year in which the Term expires.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.3. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Termination </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. This Agreement may be sooner terminated as follows:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a) By either Party if the other Party is in breach or default of any provision of this Agreement including, without limitation, any provision of the Other Agreements. In such event, the Party claiming the breach or default (the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Claiming Party </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) shall give the other Party written notice describing the subject breach or default. Except in the case of a monetary breach or default, for which no cure period shall be required, the other Party shall have thirty (30) days to cure the subject breach or default following receipt of the Claiming Party&#146;s written notice, unless such breach or default cannot reasonably be cured within such thirty-day period, in which case, a reasonable time shall be permitted (the &#147; </FONT><U><FONT face
="TimesNewRomanPSMT,Times New Roman,Times,serif">Cure Period </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;). If cure is not effected to the reasonable satisfaction of the Claiming Party by the end of the Cure Period, then the Claiming Party may terminate this Agreement by giving the other Party written notice to that effect within thirty days following the end of the Cure Period.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b) By Callaway if, between June 1, 2013 and June 30, 2013, Callaway gives Saint Andrews and AAGC written notice of termination, in which event termination shall be effective on December 31, 2013. If, however, Callaway does not give such written notice pursuant to this subsection 4.3(b), then this Agreement shall continue commensurate with the term of Lease but not beyond December 31, 2018, at which time this Agreement shall terminate <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">regardless of the remaining Lease term. Any such termination of this Agreement pursuant to this subsection 4.3(b), however, </FONT></FONT></P>
<P align=center>5</P>
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<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">shall not terminate the Other Agreements, allowing Saint Andrews and AAGC the option to continue use of those certain marks consistent the terms and conditions set forth in the Other Agreements during the remainder, if any, of the Lease term subject, however, to earlier termination as provided in the Other Agreements.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) By Callaway if one of the following events shall occur:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(i) The commencement of any proceeding, voluntary or involuntary, in bankruptcy or insolvency by or against Saint Andrews or AAGC which remains unstayed for, or is not dismissed within, a period of thirty (30) days, including any proceeding under the U.S. bankruptcy laws, or in the event of the appointment, with or without the consent of Saint Andrews or AAGC, of a receiver or an assignee for the benefit of creditors, or if Saint Andrews or AAGC becomes otherwise bankrupt or insolvent (however evidenced) or is unable to pay its debts as they become due.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(ii) Saint Andrews or AAGC permanently ceases operation of the Center.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(iii) Ronald S. Boreta ceases to have a controlling interest in Saint Andrews and AAGC, or ceases to have management positions with Saint Andrews and AAGC which are substantially the same as those held as of the Effective Date.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">5. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Notices </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. All notices required by or permitted under this Agreement and the Other Agreements shall be in writing and delivered by (a) Federal Express, United Parcel Service, DHL, or other nationally recognized overnight courier (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Express Carrier </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), each postage prepaid and sent via overnight delivery (or if overnight delivery is not available, then the soonest delivery offered by such carrier) or (b) confirmed fax message followed by delivery by Express Carrier of a copy of the notice. All such notices shall be addressed to the Parties at their addresses and fax numbers as listed below or to such other address as either
 Party may from time to time advise the other Party in writing in accordance with this Section 5.</FONT></P>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Callaway Golf Company</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Saint Andrews Golf Shop, Ltd.</FONT>&nbsp;</TD></TR>
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     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2180 Rutherford Road</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">5325 South Valley View Boulevard, Suite 4,</FONT>&nbsp;</TD></TR>
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     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Carlsbad, California 92008</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89118</FONT>&nbsp;</TD></TR>
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     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Joe Urzetta, Senior</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Ronald S. Boreta, President</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vice President U. S. Sales</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tel: (702) 317-7301</FONT>&nbsp;</TD></TR>
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     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tel: (760) 804-4334</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: (702) 309-7407</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: (760) 804-4342</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
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     <TD></TD>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All-American Golf Center, Inc.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">6730 South Las Vegas Boulevard</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89119</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Ronald S. Boreta</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tel: (702) 317-7301</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
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     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: (702) 309-7407</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=center>6</P>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">With copies to:</FONT>&nbsp;</TD>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Callaway Golf Company</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Frank M. Flansburg III, Esq.</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2180 Rutherford Road</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Marquis &amp; Aurbach</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Carlsbad, California 92008</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">10001 Park Run Drive</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Michael J. Rider, Senior Vice</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89145</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">President and General Counsel</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tel: (702) 942-2154</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tel: (760) 930-5849</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: (702) 856-8954</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: (760) 930-5022</FONT>&nbsp;</TD>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">6. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Miscellaneous </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. This Agreement constitutes the entire understanding of the Parties, except that the Other Agreements shall remain in full force and effect. In the event of any inconsistencies between the terms hereof and any of the terms contained in the Other Agreements, this Agreement shall govern and control. If any provision of this Agreement or its application is construed to be invalid or unenforceable, the remaining provisions will be fully enforceable without regard to the invalid or unenforceable provisions. The prevailing Party in any litigation involving this Agreement will be reimbursed by the non-prevailing Party for all costs and expenses, including, without limitation, reasonable attorney fees and costs, incurred by such prevailing Party. This Agreement
 is binding on the Parties and constitutes their entire understanding. No amendment or modification of this Agreement shall be valid or binding on the Parties unless made in writing and signed on behalf of each of the Parties. A Party may waive any right under this Agreement only by written waiver duly signed by such Party, and no failure to exercise or delay in exercising a right under this Agreement shall constitute a waiver of any right. This Agreement and the Parties&#146; obligations hereunder shall be binding on and inure to the benefit of the Parties and their permitted assigns. However, no Party may assign any of its rights or obligations hereunder without the prior written consent of the other Parties. The terms, conditions, and covenants contained herein, which are meant to survive the Term or other termination hereof, shall specifically survive the expiration of the Term or other termination hereof. The Parties have duly executed and agreed to be bound by this Agreement by the signatures of their 
authorized representatives below. Each Party represents and warrants that the person executing this Agreement on its behalf is fully authorized to do so. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument. Electronic transmissions shall constitute originals. Time is of the essence with respect to each term and condition hereof for which time is a factor.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">[Balance of this page has been left blank intentionally; signatures are on the following page]</FONT></P>
<P align=center>7</P>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">IN WITNESS WHEREOF, the Parties have signed this Agreement as of the dates indicated below to be effective as of the Effective Date.</FONT></P>
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<P><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">CALLAWAY GOLF COMPANY</FONT>&nbsp;</P>
<P>&nbsp;</P>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: /s/ George Fellows</FONT></TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; George Fellows, President and</FONT></TD></TR>
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     <TD align=left>&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: June&nbsp;19, 2009</FONT>&nbsp;</TD></TR>
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<P><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">SAINT ANDREWS GOLF SHOP, LTD.</FONT>&nbsp;</P>
<P>&nbsp;</P>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By:</FONT>&nbsp;<FONT face="Times New Roman" size=4>/s/</FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ronald S. Boreta</FONT></TD></TR>
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     <TD align=left>&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ronald S. Boreta, Manager</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: June 15, 2009</FONT>&nbsp;</TD></TR>
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<P><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">ALL-AMERICAN GOLF CENTER, INC.</FONT>&nbsp;</P>
<P>&nbsp;</P>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By:</FONT>&nbsp;<FONT face="Times New Roman" size=4>/s/</FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ronald S. Boreta</FONT></TD></TR>
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     <TD align=left>&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ronald S. Boreta, President</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date:&nbsp;June 15,&nbsp;2009</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
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<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exhibit 10.2</FONT></B></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">STOCK TRANSFER AGREEMENT</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">THIS STOCK TRANSFER AGREEMENT (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Agreement </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) is made as of the last day reflected on the signature page hereto (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Effective Date </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), by and among All-American Sportpark, Inc., a Nevada corporation (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Transferor </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), and Saint Andrews Golf Shop, Ltd., a Nevada limited liability company, and/or its assignee or designee (collectively, the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">Transferee </FONT></U><FONT face="TimesNewRomanPS
MT,Times New Roman,Times,serif">&#148;).</FONT></P>
<P align=center><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Recitals</FONT></U></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, Transferor owns sixty-five (65) of the shares of the common stock (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Common Stock </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), in All-American Golf Center, Inc., a Nevada corporation (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corporation </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), represented by Stock Certificate No. 2, constituting one hundred percent (100%) of the outstanding shares of stock issued by the Corporation;</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, Transferee has made multiple loans to Transferor, which loans continue to accrue interest, and Transferor now seeks to satisfy a portion of the principal debt it owes to Transferee;</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, Transferor, Transferee, and Corporation hereby acknowledge and reaffirm the accuracy of that certain Ledger (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ledger </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), attached hereto as </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibit &#147;A&#148; </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">and incorporated herein by this reference, which identifies loans in the principal amount of $600,000 plus interest due thereunder (collectively, the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Loan </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), to which Transferor is indebted to Transferee.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, Transferor affirms and acknowledges both the validity and existence of the Loan;</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, without affecting any other loans from Transferee to Transferor, the principal under the Loan shall be satisfied pursuant to and in accordance with the terms of this Agreement;</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, in consideration for Transferee&#146;s forgiveness of Six Hundred Thousand and No/100 Dollars ($600,000) of principal (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Principal </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) evidenced by the Loan, Transferor has agreed to transfer forty-nine percent (49%) of stock issued by the Corporation (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) to Transferee; and</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, Transferor and Transferee deem it to be in their respective best interests for Transferor to transfer the Shares to Transferee upon the terms and conditions contained herein.</FONT></P>
<P align=center><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Agreement</FONT></U></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">NOW, THEREFORE, in consideration of the above recitals, which are hereby incorporated herein by this reference, the mutual promises, covenants, conditions, and representations hereinafter contained, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Transferor and Transferee hereby agree as follows:</FONT></P>
<P align=center>1</P>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sale and Transfer of Shares </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Subject to the terms and conditions set forth in this Agreement, at Closing (as defined below), Transferor agrees to transfer and convey the Shares to Transferee, and Transferee agrees to acquire the Shares from Transferor.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Forgiveness of Principal </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Subject to the terms and conditions set forth in this Agreement, at Closing, Transferee agrees to forgive the Principal.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">3. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interest </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Notwithstanding anything to the contrary contained herein, no interest provided for or evidenced by the Loan shall be forgiven as a result of this Agreement, and all interest provided for in the Loan shall remain due and payable and in full force and effect in accordance with the terms of the Loan.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">4. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Closing </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. The consummation of the transactions contemplated hereby (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Closing </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) shall take place contemporaneous with the execution and delivery of this Agreement. At the Closing, the transactions contemplated hereby shall be consummated upon the simultaneous delivery by the following parties of the following documents:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a) Transferor shall deliver to Transferee the stock certificate(s) representing the Shares;</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b) Transferor shall deliver to Transferee a stock power duly executed by Transferor in the form attached hereto as </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibit &#147;B&#148; </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">;</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c) the Corporation shall deliver to Transferee a stock certificate representing the Shares, if applicable; and</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d) With respect to the Loan, Transferee shall deliver to Transferor a satisfaction of indebtedness in the form of </FONT><U><FONT face="TimesNewRomanPSMT,Times &#13;&#10;New Roman,Times,serif">Exhibit &#147;C&#148; </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">evidencing the satisfaction of the Loan in the amount of the Principal.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">5. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Release of Interest </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. At Closing, Transferor will release and relinquish any and all right, title and interest which Transferor now has or may ever have had in the Shares and the Corporation.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">6. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Representations of Transferor </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Transferor individually and on behalf of the Corporation represents and warrants to Transferee as follows:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ownership of Shares </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Transferor is the owner, beneficially and of record, of the Shares, free and clear of all liens, encumbrances, security agreements, equities, options, claims, charges, and restrictions. Transferor does not own or have the right to purchase or acquire from the Corporation, whether pursuant to options, warrants, convertible securities or otherwise, any other securities of the Corporation.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Capitalization </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. The authorized capital stock of the Company consists of sixty-five (65) shares of issued and outstanding Common Stock, all of which shares are held in the name of Transferor. All issued and outstanding shares have been duly authorized and validly issued and are fully paid and non-assessable. There are no other outstanding rights, options, warrants, preemptive rights, rights of first refusal or similar rights for the purchase or acquisition</FONT></P>
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<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">from the Corporation of any securities of the Corporation nor are there any commitments to issue or execute any such rights, options, warrants, preemptive rights or rights of first refusal. All outstanding shares have been issued in compliance with state and federal securities laws. Neither the Corporation nor Transferor is a party or subject to any agreement or understanding, and, there is no agreement or understanding between any persons that affects or relates to the voting or giving of written consents with respect to any security or the voting by a director or shareholder of the Corporation.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Governmental Consents </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Except for compliance that shall have occurred prior to Closing, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority on the part of the Corporation is required in connection with the offer, sale, transfer, or issuance of the Shares or the consummation of any other transaction contemplated hereby.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Compliance with Other Instruments </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. The Corporation is not in violation or default of any provision of its articles of incorporation or bylaws, each as amended and in effect as of the Closing.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Broker Fees </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Neither Transferor nor the Corporation is a party to any contract, agreement, arrangement or understanding with any person or entity which will result in the obligation of Transferor or the Corporation to pay any finder&#146;s fee, brokerage commission or similar payment in connection with this Agreement or the transactions contemplated hereby.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">7. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Representations of Transferee </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Transferee hereby represents and warrants to Transferor as follows:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Authorization </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. This Agreement, when executed and delivered by Transferee, will constitute a valid and legally binding obligation of Transferee, enforceable in accordance with its terms.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Compliance with Covenants </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Transferee will perform and comply with all covenants and agreements, and satisfy all conditions that Transferee is required by this Agreement to perform, comply with, or satisfy before or at the Closing.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Conditions Precedent to Closing </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a) The obligations of Transferee under this Agreement are subject to the satisfaction of the following conditions on or prior to the Closing:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(i) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Representations and Warranties </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. The representations and warranties of the Transferor contained herein shall be true in all material respects.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(ii) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Performance </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Transferor shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it.</FONT></P>
<P align=center>3</P>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(iii) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Compliance with Applicable Laws </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. The transfer of the Shares to Transferee at the Closing shall not be prohibited by or conflict with any applicable law or governmental rule, regulation, order or judgment.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(iv) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">No Legal Proceedings </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. No action, suit, investigation or other proceeding relating to the transactions contemplated hereby shall have been instituted or threatened before any court or by any governmental authority or body that restrains or prohibits or seeks to restrain or prohibit the transactions contemplated hereby or to obtain material damages or other material relief in connection therewith.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Liabilities and Indemnification </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a) Transferor and Corporation shall indemnify, save, defend, protect and hold harmless Transferee from and against any and all costs, losses, taxes, claims, damages, liabilities, causes of action, demands and expenses (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Damages </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) incurred in connection with, arising out of, resulting from or incident to: (i) any breach of any representation, warranty, covenant or agreement made in or pursuant to this Agreement; (ii) the operation of the Corporation&#146;s business; and/or (iii) the Shares arising, accruing, or occurring on or prior to Closing.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b) Transferee shall indemnify, save, defend, protect and hold harmless Transferor from and against any and all Damages incurred in connection with, arising out of, resulting from or incident to any breach of any representation, warranty, covenant or agreement made in or pursuant to this Agreement, and for any Damages related to the Shares arising after the Closing.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10. </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Miscellaneous </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Voting </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Upon Transferee&#146;s acquisition of the Shares, it shall have all of the rights and powers of other shareholders of the Corporation, including, without limitation, voting rights and Transferee&#146;s right to collect distributions in proportion to the percentage of shares held by Transferee.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Notices </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Any and all notices and demands by any party hereto, required or desired to be given hereunder, shall be in writing and shall be deemed validly given or made (1) if served personally, upon receipt, (2) if deposited in the United States Mail, postage prepaid, certified mail, return receipt requested, three (3) days after deposit, or (3) if sent by facsimile, upon receipt, provided that a copy is also sent by method (1) or (2), and if addressed as follows:</FONT></P>
<DIV align=center>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="33%"></TD>
     <TD width="66%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">If to Transferor:</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All-American Sportpark, Inc.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Ronald S. Boreta</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">5325 South Valley View Boulevard,</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Suite 4</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89118</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: 702-309-7407</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=center>4</P>
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<A name="page_5"></A>
<DIV align=center>
<TABLE cellSpacing=0 border=0>
<TR>
     <TD width="33%"></TD>
     <TD width="66%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">If to Transferee:</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Saint Andrews Golf Shop, Ltd.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Ronald S. Boreta</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">5325 South Valley View Boulevard,</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Suite 4</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89118</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: 702-309-7407</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">With a copy to:</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Marquis &amp; Aurbach</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Frank M. Flansburg III, Esq.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">10001 Park Run Drive</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89145</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: 702-856-8954</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">If to Company:</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All American Golf Center, Inc.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Ronald S. Boreta</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">6730 South Las Vegas Boulevard</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89119</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: 702-309-7407</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Either party may change its address for the purpose of receiving notices or demands as herein provided by giving a written notice in the manner aforesaid to the other parties. All notices shall be as specific as reasonably necessary to enable the party receiving the same to respond thereto.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Governing Law </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. The laws of the State of Nevada applicable to contracts made in that State, without giving effect to its conflict of law rules, shall exclusively govern the validity, construction, performance and effect of this Agreement.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consent to Jurisdiction </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Each party hereto consents to the jurisdiction of the Courts of the State of Nevada in the event any action is brought for declaratory relief or enforcement of any of the terms and provisions of this Agreement.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attorneys&#146; Fees </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. Unless otherwise specifically provided for herein, each party hereto shall bear its own attorney fees incurred in the negotiation and preparation of this Agreement and any related documents. In the event that any action or proceeding is instituted to interpret or enforce the terms and provisions of this Agreement, however, the prevailing party shall be entitled to its costs and attorney fees, in addition to any other relief it may obtain or be entitled to.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(f) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interpretation </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. In the interpretation of this Agreement, the singular may be read as the plural, and vice versa, the neuter gender as the masculine or feminine, and vice versa, and the future tense as the past or present, and vice versa, all interchangeably as the context may require in order to fully effectuate the intent of the parties and the transactions contemplated herein. Syntax shall yield to the substance of the terms and provisions hereof. Paragraph headings are for convenience of reference only and shall not be used in the interpretation of the Agreement. Unless the context specifically states to the contrary, all examples itemized or listed herein are for illustrative purposes only, and the doctrine of inclusio unius exclusio alterius shall not be applie
d in interpreting this Agreement.</FONT></P>
<P align=center>5</P>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(g) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Entire Agreement </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. This Agreement, along with the exhibits hereto, which are hereby incorporated herein by this reference, sets forth the entire understanding of the parties, and supersedes all previous agreements, negotiations, memoranda, and understandings, whether written or oral. In the event of any conflict between any exhibits or schedules attached hereto, this Agreement shall control.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(h) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Modifications </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. This Agreement shall not be modified, amended, or changed in any manner unless in writing executed by the parties hereto.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(i) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Waivers </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. No waiver of any of the provisions of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver, and no waiver shall be binding unless evidenced by an instrument in writing and executed by the party making the waiver.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(j) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Invalidity </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. If any term, provision, covenant or condition of this Agreement, or any application thereof, should be held by a court of competent jurisdiction to be invalid, void or unenforceable, that provision shall be deemed severable and all provisions, covenants, and conditions of this Agreement, and all applications thereof not held invalid, void or unenforceable, shall continue in full force and effect and shall in no way be affected, impaired or invalidated thereby.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(k) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Binding Effect </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. This Agreement shall be binding on and inure to the benefit of the heirs, personal representatives, successors and permitted assigns of the parties hereto.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(l) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Counterparts </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. This Agreement may be executed in multiple counterparts, which together shall constitute one and the same document. Facsimile or electronic transmissions of signatures shall be deemed originals.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(m) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Negotiated Agreement </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">. This is a negotiated Agreement. All parties have participated in its preparation. In the event of any dispute regarding its interpretation, it shall not be construed for or against any party based upon the grounds that the Agreement was prepared by any one of the parties.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(n) </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Time of Essence </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Time is of the essence of this Agreement and all of its provisions.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 973px; HEIGHT: 211px" cellSpacing=0 border=0>
<TR>
     <TD width="23%"></TD>
     <TD width="23%"></TD>
     <TD width="54%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">TRANSFEROR</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All-American Sportpark, Inc. , a Nevada</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">corporation</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman" size=2>6/15/09</FONT></TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: /s/ Ronald S. Boreta</FONT></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name: Ronald S. Boreta</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title: President</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=center>6</P>
<HR align=center width="100%" noShade SIZE=2>
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<A name="page_7"></A>
<DIV align=left>
<TABLE style="WIDTH: 952px; HEIGHT: 235px" cellSpacing=0 border=0>
<TR>
     <TD width="23%"></TD>
     <TD width="23%"></TD>
     <TD width="54%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">TRANSFEREE</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Saint Andrews Golf Shop, Ltd. , a Nevada</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">limited liability company</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman">6/15/09</FONT></TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By:</FONT>&nbsp;<FONT face="Times New Roman">/s/ Ronald S. Boreta</FONT></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name: Ronald S. Boreta</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title: Manager</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=center>7</P>
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<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Joinder by Corporation</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All-American Golf Center, Inc., a Nevada corporation (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corporation </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), hereby joins in the foregoing Stock Transfer Agreement in order to consent to the transactions contemplated thereby and to be bound by those terms affecting the Corporation.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 987px; HEIGHT: 258px" cellSpacing=0 border=0>
<TR>
     <TD width="23%"></TD>
     <TD width="23%"></TD>
     <TD width="54%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">CORPORATION</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All-American Golf Center, Inc. , a Nevada</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">corporation</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman">&nbsp;6/15/09</FONT></TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By:</FONT>&nbsp;<FONT face="Times New Roman">/s/ Ronald S. Boreta</FONT></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name: Ronald S. Boreta</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title: President</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=center>8</P>
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<A name="page_9"></A>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXHIBIT &#147;A&#148;</FONT></B></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ledger</FONT></B></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(see attached)</FONT></P>
<P align=center><FONT face="Times New Roman"></FONT>&nbsp;</P>
<P align=center><FONT face="Times New Roman"></FONT>&nbsp;</P>
<P align=center>&nbsp;</P>
<P align=center>9</P>
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<A name="page_10"></A>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXHIBIT &#147;B&#148;</FONT></B><BR>
<BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Stock Power</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">FOR VALUE RECEIVED, the undersigned hereby assigns and transfers unto Boreta Enterprises III, LTD., a Nevada limited liability company, all of its right, title and interest in and to thirty-three and 15/100 (33.15) shares of common stock (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) in All-American Golf Center, Inc., a Nevada corporation (the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corporation </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), and does hereby irrevocably constitute and appoint any individual designated by the Corporation as its attorney in fact to transfer the Shares on the books of the Corporation, with full power of substitution in the premises.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DATED as of the&nbsp;15 day of June, 2009.</FONT></P>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All-American Sportpark, Inc. , a Nevada</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">corporation</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="Times New Roman">By:</FONT><FONT face="Times New Roman">&nbsp;/s/ Ronald S. Boreta</FONT></TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name: Ronald S. Boreta</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title: President</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=center>10</P>
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<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXHIBIT &#147;C&#148;</FONT></B></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Satisfaction of Indebtedness</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The undersigned hereby acknowledge and agree that the indebtedness in the amount of $600,000 of principal as set forth on the Ledger has been fully satisfied, and therefore, the documents evidencing such principal are hereby declared to be amended to reflect the foregoing reduction in principal.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DATED as of the&nbsp;15 day of June, 2009.</FONT></P>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Saint Andrews Golf Shop, Ltd. , a Nevada</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">limited liability company</FONT>&nbsp;</TD></TR>
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     <TD>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By:</FONT>&nbsp;<FONT face="Times New Roman">/s/ Ronald S. Boreta</FONT></TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name: Ronald S. Boreta</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title: Manager</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=center>11</P>
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<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exhibit 10.3</FONT></B></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Employment Agreement</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">This Employment Agreement (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Agreement </FONT></U><FONT face="TimesNewRomanPSMT,Times &#13;&#10;New Roman,Times,serif">&#148;), dated and effective this&nbsp;15th day of June, 2009 (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Effective Date </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">&#148;), is made and entered into between All-American Golf Center, Inc., a Nevada corporation (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corporation </FONT></U><FONT face="TimesNewRomanPSMT,Times &#13;&#10;New Roman,Times,serif">&#148;), and John Boreta, an individual (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Employee </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) .</FONT></P>
<P align=left><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RECITALS</FONT></U></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, Corporation leases approximately 42 acres of real property located in Clark County, Nevada, commonly known as APN 177 -04 -101-009 (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Premises </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), which includes a golf course, driving range, performance center, tranining facility, and golf shop, all of which are operated by the Corporation (collectively, the &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Business </FONT></U><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">&#148;);</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, Corporation desires to employ Employee and secure his services for the Term provided hereinbelow upon the terms and conditions provided herein, and Employee desires to be so employed by Corporation; and</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">WHEREAS, Corporation and Employee desire to set forth in writing the terms and conditions of their agreement and understanding with respect to Corporation&#146;s employment of Employee.</FONT></P>
<P align=left><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">AGREEMENT</FONT></U></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">NOW, THEREFORE </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">, in consideration of the foregoing recitals, which are hereby incorporated herein by this reference, the mutual covenants and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Employment </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">During the Term (as defined below), Employee shall be responsible for the overall management and operation of the Business.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Term </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Unless otherwise terminated in accordance with the terms hereof, this Agreement shall commence on the Effective Date and shall continue until the third (3 </FONT><SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">rd </FONT></SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">) anniversary of the Effective Date (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Term </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) .</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Compensation </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New &#13;&#10;Roman,Times,serif">.</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>(a) </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Salary </FONT></U></B><FONT face="TimesNewRomanPSMT,Times &#13;&#10;New Roman,Times,serif">. During the Term, Corporation shall pay to Employee an annual salary of Seventy- Five Thousand and No/100 Dollars ( $ 75,000. 00), less applicable payroll taxes and normal withholdings, which shall be paid by Corporation (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Salary </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;), in consideration for all services rendered by Employee under this Agreement. One-half (1/2) of the Salary shall be deferred and shall be subject to the mutual agreement of the parties. Corporation shall pay the Salary to Employee in equal installments on the same day or days of the month that Corporation pays its other employees in accordance
 with the normal payroll policies of Corporation.</FONT></P>
<P align=center>1</P>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>(b) </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Expenses </FONT></U></B><FONT face="TimesNewRomanPSMT,Times &#13;&#10;New Roman,Times,serif">. During the Term, Corporation shall pay and/or reimburse Employee, for all reasonable business expenses incurred by Employee in furtherance of or in connection with performing his obligations under this Agreement.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>(c) </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Benefits </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">During the Term, Employee shall be entitled to all benefits which are cutomarily provided by Corporation to other employees (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Benefits </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;).</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Termination for Cause </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New &#13;&#10;Roman,Times,serif">.</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>(a) </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Termination </FONT></U></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Corporation may terminate the employment of Employee at any time for Cause after providing Employee with written notice thereof at least ten (10) days prior to such termination. For purposes of this Agreement, &#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cause </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148; means that, Employee is convicted of a felony and any and all applicable appeals have been exhausted or any and all applicable time periods to file appeals have expired.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>(b) </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Corporation&#146;s Obligations </FONT></U></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Upon termination for Cause, Corporation shall have no further liability or obligation to Employee under this Agreement, or in connection with his employment hereunder, except for: (i) any unpaid Salary accrued through the date of termination; (ii) any accrued but unused and unpaid vacation time; and (iii) any unreimbursed expenses properly incurred by Employee prior to the date of termination.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Termination by Employee </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New &#13;&#10;Roman,Times,serif">.</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>(a) </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Employee may terminate his employment with Corporation upon fourteen (14) days prior written notice to Corporation for any reason whatsoever.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>(b) </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In the event that Employee terminates his employment in accordance with this </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Section 5 </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">, Corporation shall have no further liability or obligation to Employee under this Agreement, or in connection with his employment hereunder, except for: (i) any unpaid Salary accrued through the date of termination; (ii) any accrued but unused and unpaid vacation time; and (iii) any unreimbursed expenses properly incurred prior to the date of termination.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Automatic Termination </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New &#13;&#10;Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In the event that certain Customer Agreement (&#147; </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Customer Agreement </FONT></U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#148;) entered into on approximately June 15, 2009, by and between Callaway Golf Company, a Delaware corporation, Saint Andrews Golf Shop, LTD., a Nevada limited liability company, and Corporation, expires, is cancelled, or is terminated for any reason, this Agreement shall immediately and automatically terminate and neither party hereto shall have any further rights or obligations hereunder except for any unpaid Salary due to Employee.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Severability </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Should a court determine that any paragraph or sentence, or any portion of a paragraph or sentence of this Agreement, is invalid, unenforceable, or void, this determination shall not have the effect of invalidating the remainder of the paragraph, sentence, or any other provision of this Agreement. Further, the court should construe this Agreement by limiting and reducing it only to the extent necessary to be enforceable under then applicable law.</FONT></P>
<P align=center>2</P>
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<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">8. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Law; Forum </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Any dispute in the meaning, effect, or validity of this Agreement shall be resolved exclusively in accordance with the laws of the State of Nevada without regard to the conflict of laws provisions thereof. This Agreement shall be governed by and construed exclusively in accordance with the laws of the State of Nevada. Venue of any litigation arising from this Agreement shall be in a federal or state court of competent jurisdiction in Clark County, Nevada.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Successors </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, and permitted assigns. However, neither Corporation nor Employee may assign any of its/his rights or obligations hereunder without the prior written consent of the other party.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">10. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">No Waiver </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The failure of either party to insist in any one or more instances upon the performance of any terms or conditions of this Agreement shall not be construed as a waiver of any other performance of the same or other term, covenant, or condition, but the obligations of the parties hereto with respect thereto shall continue in full force and effect.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notices </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Any notice, demand, request, waiver, or other communication under this Agreement shall be in writing and shall be deemed to have been duly given on the third day after mailing if mailed to the party to whom notice is to be given, by first class mail, certified, return receipt requested, postage prepaid, to the parties at the following addresses, or by facsimile if followed by first class mailing, certified, return receipt requested, or, if hand delivered, upon receipt (or at such other address or facsimile number for a party as shall be specified by like notice):</FONT></P>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">If to Corporation:</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All-American Golf Center, Inc.</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Ronald S. Boreta</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">6730 South Las Vegas Boulevard</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89119</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: (702) 309-7407</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">If to Employee:</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">John Boreta</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">6730 South Las Vegas Boulevard</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89119</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: (702) 309-7407</FONT>&nbsp;</TD></TR>
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     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">With a copy to:</FONT>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Marquis &amp; Aurbach</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Attn: Frank M. Flansburg III, Esq.</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">10001 Park Run Drive</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Las Vegas, Nevada 89145</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fax: 702-856-8954</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Entire Agreement </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New &#13;&#10;Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">There are no oral representations, understandings, or agreements between the parties hereto or any of its officers, directors, or representatives covering the same subject matter as this Agreement. This Agreement supersedes all previous agreements between Employee and Corporation in relation to the subject matter hereof and contains the final,</FONT></P>
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<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">complete, and exclusive understanding and agreement between the parties hereto with respect to the subject matter hereof and cannot be amended, modified, or supplemented in any respect except by subsequent written agreement entered into by both parties.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">13. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Counterparts </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument. Facsimile transmissions shall constitute originals.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">14. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Captions </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The captions herein are for the convenience of reference of the parties and are not to be construed as part of the terms of this Agreement.</FONT></P>
<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15. </FONT></B><B><U><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Time of Essence </FONT></U></B><B><FONT face="TimesNewRomanPS-BoldMT,Times New &#13;&#10;Roman,Times,serif">. </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Time is hereby declared the essence with respect to each term and condition contained herein.</FONT></P>
<P align=left><I><FONT face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">(SIGNATURE PAGE FOLLOWS)</FONT></I></P>
<P align=center>4</P>
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<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">IN WITNESS WHEREOF </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">, the parties hereto have executed this Agreement as of the Effective Date.</FONT></P>
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     <TD align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EMPLOYEE:</FONT></B>&nbsp;</TD>
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     <TD align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CORPORATION:</FONT></B>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
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     <TD vAlign=top align=left rowSpan=2><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All-American Golf Center, Inc. ,</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">a Nevada corporation</FONT>&nbsp;</TD></TR>
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     <TD align=left>&nbsp;</TD>
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     <TD vAlign=top align=left rowSpan=2><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: /s/ John Boreta</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">John Boreta, an individual</FONT>&nbsp;</TD>
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     <TD vAlign=top align=left rowSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: /s/ Ronald S. Boreta</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name: Ronald S. Boreta</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title: President</FONT>&nbsp;</TD></TR>
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<P align=center>5</P>
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<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exhibit 10.4</FONT></B></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ADDENDUM NO. 2 TO EMPLOYMENT AGREEMENT</FONT></B><BR>
<BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">OF</FONT></B><BR>
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<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RONALD BORETA</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In consideration of the mutual agreements set forth herein, the parties to the attached Employment Agreement executed on August 25, 1994, agree to the following changes:</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1. Section 1.1 is hereby amended to read as follows:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">"</FONT><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Section 1.1 Specified Period. </FONT></B><FONT face="TimesNewRomanPSMT,Times New &#13;&#10;Roman,Times,serif">Employer hereby employs Employee and Employee hereby accepts employment with Employer for a period terminating on May 31, 2012."</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2. Section 4.1 is hereby amended to read as follows: "</FONT><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Section 4.1 Annual Salary.</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(a) </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As compensation for the services to be performed hereunder, Employee shall receive a base salary at the rate of $120,000 per annum, payable not less than monthly during the employment term.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(b) </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Employee shall receive such annual increases in base salary as may be determined by Employer's Board of Directors in its sole discretion.</FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Agreed to on this 15th day of June, 2009.</FONT></P>
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     <TD align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ALL-AMERICAN SPORTPARK, INC.</FONT></B>&nbsp;</TD></TR>
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     <TD colSpan=3>&nbsp;</TD></TR>
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     <TD align=left><FONT face="Times New Roman">/s/ Ronald Boreta</FONT></TD>
     <TD align=left></TD>
     <TD align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By:</FONT>&nbsp;<FONT face="Times New Roman">/s/ Vaso Boreta</FONT></TD></TR>
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     <TD vAlign=top align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ronald Boreta</FONT>&nbsp;</TD>
     <TD align=left></TD>
     <TD vAlign=top align=left>&nbsp;&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vaso Boreta, Chairman of the Board</FONT>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=center>1</P>
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