<SEC-DOCUMENT>0001144204-14-066854.txt : 20141112
<SEC-HEADER>0001144204-14-066854.hdr.sgml : 20141111
<ACCEPTANCE-DATETIME>20141112084753
ACCESSION NUMBER:		0001144204-14-066854
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20141106
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141112
DATE AS OF CHANGE:		20141112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ESCALADE INC
		CENTRAL INDEX KEY:			0000033488
		STANDARD INDUSTRIAL CLASSIFICATION:	 [3949]
		IRS NUMBER:				132739290
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1226

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06966
		FILM NUMBER:		141211450

	BUSINESS ADDRESS:	
		STREET 1:		817 MAXWELL AVE.
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47711
		BUSINESS PHONE:		812-467-4449

	MAIL ADDRESS:	
		STREET 1:		817 MAXWELL AVE.
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47711

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARTIN YALE BUSINESS MACHINES CORP
		DATE OF NAME CHANGE:	19820310

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARTIN YALE INDUSTRIES INC
		DATE OF NAME CHANGE:	19720306

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WILLIAMS MANUFACTURING CO
		DATE OF NAME CHANGE:	19710504
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v394024_8k.htm
<DESCRIPTION>8-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Washington,
DC 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>CURRENT
REPORT Pursuant</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>to
Section 13 or 15(d) of the</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Securities
Exchange Act of 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="font-size: 10pt; width: 10%"><FONT STYLE="font-size: 10pt">Date of report (Date of earliest event reported) </FONT>&nbsp;&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 90%; border-bottom: Black 1pt solid; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">November 6, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid"><B>ESCALADE,
INCORPORATED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">Indiana</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of Incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: center; font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0-6966</FONT></TD>
    <TD STYLE="width: 50%; text-align: center; font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13-2739290</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Commission File Number)</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(IRS Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">817 Maxwell Avenue, Evansville, Indiana</FONT></TD>
    <TD STYLE="width: 45%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47711</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">(812)
467-1200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s Telephone Number, Including
Area Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">Not Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (<I>see </I>General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section 5 &ndash; Corporate Governance
and Management </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5.02 &ndash; Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>(b)</B>&#9;On November 6, 2014, the Board of Directors
of Escalade, Incorporated (&ldquo;Escalade&rdquo;) decided to consolidate Escalade&rsquo;s finance and accounting department. As
a result of that consolidation, Deborah J. Meinert, Escalade&rsquo;s current Vice President Finance, Chief Financial Officer, and
Secretary, will cease to be employed by Escalade effective as of the end of Escalade&rsquo;s current fiscal year on December 27,
2014. Ms. Meinert&rsquo;s departure does not impact or in any way relate to the financial statements or reporting of Escalade or
its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>(c)</B> &#9;Escalade also announced that
Stephen R. Wawrin, 41, will assume the role of Escalade&rsquo;s Vice President Finance and Chief Financial Officer upon Ms. Meinert&rsquo;s
departure at fiscal year end. Since 2008, Mr. Wawrin has served as Vice President&mdash;Finance, Escalade Sports. He joined Escalade
in 2005, and previously served as Corporate Controller for Escalade. Mr. Wawrin has no family relationship with any other executive
officer or director of Escalade. Mr. Wawrin has not been involved in any related party transaction with Escalade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A copy of Escalade&rsquo;s November 10,
2014 press release announcing the above is attached hereto as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with Mr. Wawrin&rsquo;s promotion
to Chief Financial Officer, Mr. Wawrin will be provided the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Annual base salary of $150,000, subject to annual review and increases
by Escalade&rsquo;s Compensation Committee of its Board of Directors for 2015 and future years;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Annual cash bonus and equity awards, based on company and personal
performance, and subject to full discretion of Escalade&rsquo;s Compensation Committee of its Board of Directors; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Participation in Escalade&rsquo;s health and welfare plans, consistent
with company policy.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>(e)</B>&#9;In connection with Ms. Meinert&rsquo;s
departure, she and Escalade entered into the Agreement and Release attached hereto as Exhibit 10.1. The material terms of this
Agreement provide that: (a) Escalade will pay to Ms. Meinert her salary through the end of her employment, plus all incentives
that may be earned through such date; (b) additional payments equal to her salary at the time of termination for a period of six
months, less FICA, Medicare, federal, state and local taxes; (c) if Ms. Meinert elects to exercise her COBRA rights, Escalade will
pay COBRA premiums on her behalf for six months; (d) Escalade will accelerate the vesting of all equity incentive awards previously
made to her; (d) Ms. Meinert has agreed to certain covenants in favor of Escalade, including a one year non-competition provision;
and (e) Ms. Meinert and Escalade have mutually released the other from any potential claims, except as otherwise provided in the
agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(c)</TD><TD STYLE="text-align: justify">Exhibits</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in">&nbsp;</TD>
    <TD STYLE="width: 1in; text-decoration: underline"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exhibit</U></FONT></TD>
    <TD STYLE="text-decoration: underline"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Description</U></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agreement and Release dated November 11, 2014 by and between Deborah J. Meinert and Escalade, Incorporated*</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press release dated November 12, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 1in">* Denotes management
contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, Escalade, Incorporated has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Date: November 12, 2014 </FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt"><B>ESCALADE, INCORPORATED</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">By: /s/ ROBERT J. KELLER</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Robert J. Keller, President and Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v394024_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGREEMENT AND RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This agreement (the &ldquo;<U>Agreement</U>&rdquo;)
is made and entered into on this 11th day of November, 2014 (the &ldquo;<U>Effective Date</U>&rdquo;) by and between Deborah J.
Meinert (&ldquo;<U>Executive</U>&rdquo;) and Escalade, Incorporated, an Indiana corporation (&ldquo;<U>Escalade</U>&rdquo;) regarding
Executive&rsquo;s termination from all positions held by Executive with Escalade and its various subsidiaries and affiliates. Escalade
and Executive are sometimes referred to collectively as the &ldquo;<U>parties</U>&rdquo; and individually as a &ldquo;<U>party</U>,&rdquo;
and the term &ldquo;<U>Company</U>&rdquo; shall mean Escalade and its various subsidiaries and affiliates collectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Recitals</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;A.&#9;Executive is the Vice President Finance, Chief Financial
Officer, and Secretary of Escalade, an officer of various Escalade subsidiaries and affiliates, and a director of Escalade Insurance,
Inc.; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;B.&#9;Executive&rsquo;s employment with the Company will
terminate on December 27, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
mutual promises contained in this Agreement, the Company and Executive agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;1.&#9;<U>Termination</U>. Executive hereby acknowledges
her termination from her positions as Vice President Finance, Chief Financial Officer, and Secretary of Escalade and from all other
officer and director positions that she holds with the Company, effective as of December 27, 2014 (the &ldquo;<U>Employment End
Date</U>&rdquo;). Executive acknowledges and agrees as of the Employment End Date she also ceases to serve as a trustee or other
administrator of any and all Company benefit plans, including without limitation the Company&rsquo;s retirement plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&#9;<U>Compensation and Benefits</U>.
Provided that Executive fulfills her obligations as set forth in this Agreement, including the execution and non-revocation of
the Additional Release as contemplated and described in Section 11(f), the Company shall pay to Executive the following severance
benefits:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(a)&#9;The Company shall continue to
pay the Executive her Base Salary and continue her Employee Benefits through the Employment End Date. Following the end of the
Company&rsquo;s 2014 fiscal year, the Company will determine if Incentives have been met and the incentive compensation amount
payable to the Executive for such full fiscal year. The Company shall pay the Executive the amount of any such incentive compensation
upon the later of 75 days of the end of such fiscal year or the date the Company makes incentive payments to other employees receiving
similar Incentives. In addition, the Executive shall also receive payment equal to six months Base Salary, payable in installments
over such six month period accordance with the regular payroll practices of the Company as applicable to the Executive immediately
prior to termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;All equity incentive awards granted
to the Executive and outstanding at the time that the Executive&rsquo;s employment with the Company is terminated shall be treated
in the manner set forth in the applicable incentive compensation plan of the Company, provided, however, that all such equity incentive
awards held by the Executive that have not vested prior to the Employment End Date shall vest in full immediately prior to such
termination and shall be exercisable for a period of at least 90 days thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&#9;Following the Employment End Date,
the Executive and her family members who are covered by the Company&rsquo;s medical plan immediately prior to such termination
shall be entitled to elect the continuation of such health care benefits under the provisions of the Consolidated Omnibus Budget
Reconciliation Act or any substantially equivalent successor law (&ldquo;<U>COBRA</U>&rdquo;), subject to meeting ongoing eligibility
requirements. Provided Executive timely elects COBRA continuation coverage, the Company will pay the applicable COBRA premiums
on her behalf for six months following the Employment End Date and the Executive shall be responsible for all COBRA premiums thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&#9;Promptly following the Employment End
Date, the Executive may remove all of her personal items, including office furnishings, from the Company&rsquo;s offices. Upon
the Company&rsquo;s request, the Executive shall provide reasonably satisfactory evidence of ownership of any or all such items
to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35pt">For purposes of this Agreement,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35pt">&ldquo;<U>Base Salary</U>&rdquo; shall mean
the Executive&rsquo;s annual base salary as in effect on the Effective Date. Base Salary shall be deemed to accrue from day to
day such that in the event of any termination of the Executive&rsquo;s employment prior to the Employment End Date, payment shall
be made to her pro rata on a time basis up to the date of such termination;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35pt">&ldquo;<FONT STYLE="font-size: 10pt"><U>Employee
Benefits</U>&rdquo; shall mean the Company&rsquo;s retirement, insurance and other fringe benefit programs in which the Executive
may participate in from time to time, if any, in accordance with the terms and conditions of such benefit programs and subject
to the eligibility requirements of the applicable plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<U>Incentives</U>&rdquo; shall mean
the Company&rsquo;s bonus and incentive plans in which the Executive may participate in from time to time, if any, in accordance
with the terms and conditions of such benefit programs and subject to the eligibility requirements of the applicable plan. &nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9;3.&#9;<U>Executive&rsquo;s Obligations</U>. In consideration
of the payments and benefits provided in Section 2 above, Executive will:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(a)&#9;fully cooperate and assist the Company with any litigation
matters or regulatory or agency proceedings for which her testimony or cooperation is requested by Company following the Employment
End Date, provided that she is reimbursed for any reasonable and necessary expenses incurred as a result of her cooperation and
assistance, and further provided that the Company and Executive shall discuss in advance of Executive&rsquo;s providing any such
cooperation and assistance the anticipated time commitment that would likely be required of Executive with respect to any such
matter and shall mutually determine whether Executive should be compensated for her time and the amount of any such compensation,
it being understood and agreed that if the parties cannot reach agreement as to any such compensation, then the Company shall not
request, and Executive shall not be required, to provide cooperation and assistance with respect to such litigation or proceeding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(b)&#9;sign all necessary documents relating to her ceasing
to serve on the boards of directors and/or as an officer, employee or trustee of the Company, (which includes its subsidiaries
and affiliates), but in any event Executive shall be deemed to have been terminated from any such executive officer, director and
trustee positions as of the Employment End Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(c)&#9;through the Employment End Date, continue to comply
with the Company&rsquo;s Insider Trading Policy, Code of Ethics and all other Company policies and procedures applicable to employees
of the Company including, without limitation, no destruction of any documents belonging to or relating to the Company or Executive&rsquo;s
employment with the Company, whether in paper, electronic, digital or any other format, unless such destruction is approved in
advance and observed by an officer of the Company specifically designated and authorized by Escalade&rsquo;s Board of Directors;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&#9;comply with all laws relating to the
Company&rsquo;s business and operations as applicable to Executive and the Company; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(e)&#9;comply with all covenants contained in this Agreement,
including without limitation Sections 4, 5 and 6 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;4.&#9;<U>Mutual Nondisparagement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(a)&#9;<U>Executive&rsquo;s Covenant</U>. Beginning on the
Effective Date, Executive shall not make, participate in the making of, publish by any means including by posting on social media,
or encourage any other person to make, any statements, written or oral, which criticize, disparage, or defame the reputation of,
or which embarrass the Company or any of their respective present, former or future directors, officers, executives, employees
and/or shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(b)&#9;<U>Company&rsquo;s Covenant</U>. Beginning on the
Effective Date, the Company shall not, and shall instruct the members of Escalade&rsquo;s Board of Directors and executive officers
not to, make, participate in the making of, publish by any means including by posting on social media, or encourage any employees
or any other person to make, any statements, written or oral, which criticize, disparage, or defame the reputation of, or which
are intended to embarrass, the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;5.&#9;<U>Confidentiality</U>. Executive understands and
agrees that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9; Escalade is required to describe the
material terms of this Agreement in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission no later
than four (4) business days after this Agreement is signed by the Executive and Escalade, and that the Company will attach this
Agreement in its entirety as an Exhibit to such public filing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#9;Executive has been, and will through
the Employment End Date, in the course of employment with the Company entrusted with or obtained access to information proprietary
to the Company with respect to the following (all of which information is referred to hereinafter collectively as the &quot;<U>Information</U>&quot;):
the organization and management of the Company; the names, addresses, buying habits, and other special information regarding past,
present and potential customers, employees and suppliers of the Company; customer and supplier contracts and transactions or price
lists of the Company and their suppliers; products, services, programs and processes sold, licensed or developed by the Company;
technical data, plans and specifications, present and/or future development projects of the Company; financial and/or marketing
data respecting the conduct of the present or future phases of business of the Company; computer programs, systems and/or software;
ideas, inventions, trademarks, trade secrets, business information, know-how, processes, improvements, designs, redesigns, discoveries
and developments of the Company; and other information considered confidential by any of the Company or its customers or suppliers.
At all times through the Employment End Date and thereafter, Executive agrees to retain the Information in absolute confidence
and not to disclose the Information to any person or organization except as required in the performance of Executive's duties for
the Company as provided in this Agreement, without the express written consent of the Company; provided that Executive&rsquo;s
obligation of confidentiality shall not extend to any Information which becomes generally available to the public other than as
a result of disclosure by Executive; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&#9;Executive and the Company agree that,
unless otherwise determined by the Company&rsquo;s Board of Directors and the Executive is advised in writing, effective no later
than the filing of the Company&rsquo;s Form 10-K for its fiscal year ending as of the Employment End Date, Executive will no longer
be privy to material, non-public information regarding the Company. Accordingly, the Company agrees that Executive shall not be
subject to the Company&rsquo;s Insider Trading Policy thereafter, provided, however, that if and to the extent that Executive may
from time to time acquire knowledge of material, non-public information regarding the Company, Executive acknowledges and agrees
that she may not trade based upon such information and must comply with all applicable laws prohibiting insider trading. The Company
further agrees that it will not intentionally provide material, non-public information to Executive following the Employment End
Date except in connection with such events, actions or circumstances that would require stockholder approval and the Company has
made a good faith determination that it is necessary and appropriate to disclose such information to Executive given her then current
ownership of Escalade common stock, and that the Company will use its reasonable best efforts to prevent any inadvertent disclosures
of material, non-public information to Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.&#9;<U>Covenant Not to Compete, No Interference;
No Solicitation</U>. At all times through the twelfth month following the Employment End Date (or if this period is unenforceable
by law, then for such shorter period as shall be enforceable):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;Executive will not engage in any business
offering products or services related to the current business of the Company (which for purposes of this Agreement is deemed to
include the recently divested information security and print finishing business), whether as a principal, partner, joint venture,
agent, employee, salesman, consultant, director or officer, where such business or business activity is in competition with the
Company in any geographic market where the Company does business; provided, however, that Executive shall not be prohibited from
performing services for a subsidiary or division of a competitive business, as long as such subsidiary or division is not in competition
with the Company and the Executive abides by all other provisions of this Agreement including without limitation Sections 4, 5,
6(b) and 6(c);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(b)&#9;Executive will not interfere with or adversely affect,
either directly or indirectly, the Company&rsquo;s relationships with any person, firm, association, corporation or other entity
which is known by Executive to be, or is included on any listing to which Executive had access during the course of her employment
as a customer, client, supplier, consultant or employee of the Company, and Executive will not divert or change, or attempt to
divert or change, any such relationship to the detriment of the Company or to the benefit of any other person, firm, association,
corporation or other entity; and &#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(c)&#9;Executive will not induce, seek to induce or participate
directly or indirectly with any third party in seeking to induce, any other employee of the Company to terminate his or her employment
relationship with the Company, provided, however, that this restriction shall not prohibit Executive from hiring any employee who
seeks employment from Executive or any third party with whom Executive may be employed or affiliated with in the future on an unsolicited
basis as long as such employment is not in competition with any business or operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Executive acknowledges and agrees that the
covenants, restrictions, agreements, and obligations set forth herein are founded upon valuable consideration, and, with respect
to the covenants, restrictions, agreements, and obligations set forth in this Section 6 are reasonable in duration and geographic
scope. The time period and geographical area set forth in this Section 6 are each divisible and separable, and, in the event that
the covenants not to compete and/or not to divert business or employees contained therein are judicially held invalid or unenforceable
as to such time period and/or geographical area, they will be valid and enforceable in such geographical area(s) and for such time
period(s) which the court determines to be reasonable and enforceable. Executive agrees that in the event that any court of competent
jurisdiction determines that the above covenants are invalid or unenforceable to join with the Company in requesting such court
to construe the applicable provision by limiting or reducing it so as to be enforceable to the extent compatible with the then
applicable law. Furthermore, it is agreed that any period of restriction or covenant hereinabove stated shall not include any period
of violation or period of time required for litigation or arbitration to enforce such restrictions or covenants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;7.&#9;<U>Tax Liability; Tax Withholding</U>. Executive acknowledges
and agrees that she is responsible for the payment of all taxes relating to the consideration to be provided to her as contemplated
by this Agreement, including the payment of any taxes relating to her exercise of stock options and her receipt of any stock, cash
or other consideration relating to any other equity incentive awards she may have received from the Company. Notwithstanding any
other provision of this Agreement, the Company will withhold from any amounts payable under this Agreement, or any other benefits
received pursuant hereto, such federal, state and/or local taxes as shall be required to be withheld under any applicable law or
regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;8.&#9;<U>No Mitigation; No Offset</U>. In no event shall
Executive be obligated to seek other employment or to take any other action that would mitigate the amounts payable to Executive
under this Agreement. In the event that Executive would obtain subsequent employment, the Company may not offset any compensation
or other amounts earned by Executive from such subsequent employment or engagement of her services against the Executive&rsquo;s
entitlements under this Agreement. Moreover, subject to Executive&rsquo;s compliance with the covenants set forth in Sections 4,
5 and 6 of this Agreement, Executive shall be free to pursue any unsolicited, non-competitive opportunities for employment or services
as may arise from the Company&rsquo;s customers, vendors, employees and affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;9.&#9;<U>Section 16 Reports</U>. Executive and the Company
agree that notwithstanding Executive&rsquo;s termination as an executive officer and a director of Escalade as of the Employment
End Date, Executive may continue to be subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934,
as amended, and the rules and regulations thereunder for up to six months following the Employment End Date. Accordingly, Executive
agrees to provide timely notice to Escalade&rsquo;s chief executive officer of all transactions undertaken by Executive in Escalade
common stock, including the purchase or sale of any shares of Escalade common stock and the exercise of any stock options, during
the six month period following the Employment End Date, and the Company shall prepare and file the appropriate Section 16 reports
with the Securities and Exchange Commission on behalf of Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.25in; text-indent: 0.5in">&#9;10.&#9;<U>Remedies</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(a)&#9;<U>Arbitration; Submission to
Jurisdiction</U>. Any dispute that may arise between the Company and Executive relating to this Agreement and the subject matter
hereof shall be settled by binding arbitration in accordance with this Section 10(a). Except as otherwise provided herein, in the
event of any controversy, dispute or claim arising out of, or relating to this Agreement, or the breach thereof, or arising out
of any other matter relating to the termination of Executive&rsquo;s employment with the Company, the parties may seek recourse
only for temporary or preliminary injunctive relief to the courts having jurisdiction thereof and if any relief other than injunctive
relief is sought, the Company and the Executive agree that such underlying controversy, dispute or claim shall be settled by arbitration
conducted in Evansville, Indiana in accordance with this Section 9 and the Commercial Arbitration Rules of the American Arbitration
Association (&ldquo;<U>AAA</U>&rdquo;). The matter shall be heard and decided, and awards rendered by a single arbitrator mutually
acceptable to the Company and the Executive, provided, that if the cannot agree on an arbitrator, the AAA shall select the arbitrator.
The award rendered by the arbitrator shall be final and binding as between the parties hereto and their heirs, executors, administrators,
successors and assigns, and judgment on the award may be entered by any court having jurisdiction thereof. The Company and the
Executive will each bear their own costs for legal representation in any arbitration<B><I>, </I></B>except that the arbitrator
will have the authority to award all remedies provided by applicable law, including recovery of attorney fees when so provided
by applicable law. The Company will pay all arbitrators&rsquo; fees and other administrative fees in connection with any arbitration
hereunder; provided, however, that the arbitrator may require all or a portion of such fees and expenses to be paid by the Executive
in the event the arbitrator<B><I> </I></B>determines that the Executive&rsquo;s position in the arbitration proceeding was without
merit (which for purposes of this Agreement shall mean a position that is made for an improper purpose or that contains frivolous
arguments or arguments that have no evidentiary support).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(b)&#9;<U>Injunctive Relief</U>. Executive agrees that in
the event of any actual or threatened breach by her of any of the provisions contained in this Agreement, including those covenants
specifically set forth in Sections 3, 4, 5 and 6 hereof, the Company shall be entitled to seek immediate temporary injunctive and
other equitable relief, without the necessity of showing actual monetary damages, subject to hearing as soon thereafter as possible.
In the event of such injunctive relief, the periods of time referred to in Sections 5 and 6 shall be deemed extended for a period
equal to the respective period during which Employee is in breach thereof, in order to provide for injunctive relief and specific
performance for a period equal to the full term thereof and the Company shall be entitled to cease its obligations to Executive
pursuant to Section 2. In the event that the Company breaches its obligations to make payments and to provide the benefits specified
in Section 2 hereof, Executive may seek specific performance in addition to monetary damages and Executive will not be subject
to the provisions of Section 4, 5 or 6 hereof. Nothing contained herein shall be construed as prohibiting Executive or the Company
from pursuing any other remedies available to it for such breach or threatened breach, including the recovery of any damages which
it is able to prove, in the court having jurisdiction of the injunctive proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#9;11.&#9;<U>Mutual Release</U>. In consideration of the payments
and benefits set forth in this Agreement, such payments and benefits being good and valuable consideration:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#9;<U>Release by
Executive</U>. Subject to Section 10(b), Executive, on her own behalf and on behalf of her heirs, administrators, executors, successors,
assigns and personal representatives, covenants not to sue and hereby fully and forever releases, acquits and discharges the Company,
its shareholders, directors, officers, employees, agents, representatives, insurance carriers, and their successors and assigns
(collectively the &ldquo;Releasees&rdquo;), from any and all claims, demands, actions and causes of action of every kind, nature
or description (collectively &ldquo;claims&rdquo;) that Executive may have had, may now have, or may hereafter have against Releasees,
including without limitation any and all claims in any way related to or based upon Executive&rsquo;s employment with the Company
after the Effective Date through the Employment End Date and/or the cessation of Executive&rsquo;s service as an employee, executive
officer and director of the Company (the &ldquo;<U>Continuing Employment Period</U>&rdquo;), including without limitation any claims
for breach of contract, implied contract, promissory estoppel, tortious conduct, vacation pay (other than any accrued but unpaid
vacation pay as of the Employment End Date), any paid time off, or claims arising under any federal or state statute or law or
local ordinance, including but not limited to: the Age Discrimination in Employment Act as amended (&ldquo;ADEA&rdquo;); Older
Workers&rsquo; Benefit Protection Act (&ldquo;OWBPA&rdquo;); Americans with Disabilities Act (&ldquo;ADA&rdquo;) as amended; the
Family and Medical Leave Act (&ldquo;FMLA&rdquo;); Title VII of the Civil Rights Act of 1964; the Civil Rights Acts of 1991; the
Employee Retirement Income Security Act (&ldquo;ERISA&rdquo;); 42 U.S.C. &sect; 1981; 29 U.S.C. &sect; 206(d)(1); Section 503 and
504 of the Rehabilitation Disabilities Act; the WARN Act; Indiana&rsquo;s fair employment practices statutes; any other federal,
state or local law dealing with employment discrimination; and any federal or state &ldquo;Whistleblower&rdquo; law, existing as
of the date of this Agreement. Provided, however, that if the Company were to breach this Agreement, this release would not bar
an action by Executive against the Company to enforce its term(s) or any applicable law. In addition, this Section 11(a) shall
not affect adversely any benefits to which Executive may be entitled arising out of any social security, workers' compensation
or unemployment laws, or under the terms of any employee pension or welfare or benefit plans or programs of the Company, which
may be payable now or in the future to Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(b)&#9;<U>Acknowledgements
by Executive</U>. Executive specifically acknowledges and agrees that: (i) Executive is waiving claims under the foregoing laws,
including specifically the ADEA and the OWBPA; (ii) this waiver of any rights or claims is knowing and voluntary; (iii) this Agreement
is written in a manner that Executive understands; (iv) the Company has hereby advised Executive to consult with an attorney before
executing this Agreement and that Executive has so consulted; (v) the waiver of rights under Section 11(a) does not waive rights
or claims arising after the date of this Agreement; (vi) Executive has been given a period of 21 days within which to consider
this Agreement; (vii) for a period of seven days following Executive&rsquo;s execution of this Agreement, Executive may revoke
this Agreement and this Agreement will not become enforceable or effective until the revocation period expires; and (viii) the
waiver of rights in Section 11(a) is in exchange for consideration in addition to anything of value to which Executive was already
entitled to receive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&#9;<U>Release by
the Company</U>. Subject to Section 10(b), the Company, on behalf of itself and its successors and assigns, covenants not to sue
and hereby fully and forever releases, acquits and discharges Executive and her successors and assigns, from any and all claims,
demands, actions and causes of action of every kind, nature or description (collectively &ldquo;claims&rdquo;) that the Company
may have had, may now have, or may hereafter have against Executive, including without limitation any and all claims in any way
related to or based upon Executive&rsquo;s employment with the Company, its subsidiaries and affiliates through the Employment
End Date and/or the cessation of Executive&rsquo;s service as an executive officer or director of the Company, including without
limitation any claims for breach of contract, implied contract, promissory estoppel, tortious conduct or claims arising under any
federal or state statute or law or local ordinance, existing as of the date of this Agreement. Provided, however, that if Executive
were to breach this Agreement, this release would not bar an action by the Company against Executive to enforce its term(s) or
any applicable laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(d)&#9;<U>Unknown Claims</U>. This Agreement covers both
claims that Executive and/or the Company know about and those that Executive and/or the Company may not know about. The parties
hereto expressly waive all rights afforded by any statute that limits the effect of a release with respect to unknown claims. Each
of Executive and the Company understand the significance of its respective release of unknown claims and the waiver of statutory
protection against a release of unknown claims. However, this release shall not apply to any claim based on the fraud or intentional
misconduct of the other party or to any act that is determined to be a criminal act under any federal, state or local law committed
or perpetrated by Executive or the Company at any time prior to and through the Employment End Date. Neither Executive nor the
Company, based on the knowledge of Escalade&rsquo;s Board of Directors and of the Company&rsquo;s executive officers other than
Executive, is currently aware of any fraud or intentional misconduct or criminal act of the other party to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(e)&#9;<U>Future Claims Related to Employee and/or Shareholder
Status</U>. Notwithstanding any provision of this Section 11 that may be construed to the contrary, Executive and the Company agree
that neither Executive nor the Company waive or release the other party hereto from any claim that may arise based on events occurring
after the Employment End Date. Executive and the Company further agree that Executive may not, based upon Executive&rsquo;s status
as a shareholder of the Company, assert any claim subsequent to the Employment End Date against the Company or any Releasees relating
to any potential claim or matter that is the subject of or is otherwise covered by the release granted by Executive in this Agreement
or is in any way related to the event of Executive&rsquo;s cessation of employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&#9;<U>Additional
Release</U>. Provided that Executive has signed and delivered on or promptly after the Employment End Date to the Company a general
release identical in form and substance to the release contained herein relating to claims arising or that may arise from events
through the later of the Continuing Employment Period or the Employment End Date (the &ldquo;<U>Additional Release</U>&rdquo;),
which Additional Release by its terms has become effective and is in compliance with the material terms of this Agreement, the
Company further releases Executive, his successors and assigns from any and all claims, demands, actions and causes of action of
every kind, nature or description (collectively &ldquo;claims&rdquo;) that the Company may have had, may now have, or may hereafter
have against Executive, including without limitation any and all claims in any way related to or based upon Executive&rsquo;s employment
with the Company during the Continuing Employment Period and/or the cessation of Executive&rsquo;s service as an employee of the
Company, including without limitation any claims for breach of contract, implied contract, promissory estoppel, tortious conduct
or claims arising under any federal or state statute or law or local ordinance, existing as of the date of this Agreement and the
Company shall sign and deliver at such time a general release to such effect identical in form and substance to the release contained
herein. Provided, however, that if either party were to breach this Agreement, such further release would not bar an action by
the non-breaching party against the breaching party to enforce its term(s) or any applicable laws nor would such release cover
any action based on a claim excluded from the release by Section 11(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;12.&#9;<U>Future Service as Employee, Executive Officer
or Director</U>. Executive agrees that her termination as an employee, executive officer and director of the Company is irrevocable,
and that the Company shall have no obligation whatsoever to rehire, reappoint or elect Executive to any such officer, director
or other position with the Company. Executive further agrees that if she would seek any such position and is not so hired, nominated,
appointed or elected, Executive will not bring a claim against the Company and/or any Releasee for refusal to so hire, nominate,
appoint or elect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;13.&#9;<U>Binding Effect; Authority</U>. This Agreement
shall bind the Executive&rsquo;s heirs, executors, administrators, personal representatives, spouse, dependents, successors and
assigns. Escalade represents and warrants to Executive that the individual signing this Agreement on behalf of the Company is duly
authorized to enter into this Agreement and to bind the Company hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;14.&#9;<U>Non-Admission</U>. This Agreement shall not be
construed as an admission by either party of any wrongdoing or any violation of any federal, state or local law, regulation or
ordinance, and the parties specifically disclaim any wrongdoing or violation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;15.&#9;<U>Assignability</U>. Neither this Agreement, nor
any right or interest hereunder, shall be assignable by Executive, her beneficiaries or legal representatives, without the prior
written consent of an executive officer of Escalade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;16.&#9;<U>Entire Agreement</U>. This Agreement sets forth
the entire agreement between the parties with respect to the subject matter hereof and supersedes any other written or oral promises
concerning the subject matter of this Agreement except as expressly stated otherwise herein or except as expressly stated otherwise
in the Executive Agreement. The terms of this Agreement may not be modified other than in a writing signed by the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;17.&#9;<U>Governing Law</U>. This Agreement shall in all
respects be interpreted, enforced and governed by the laws of the State of Indiana without giving effect to provisions thereof
regarding conflict of laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In Witness Whereof, the parties have entered
into this Agreement as of this 11<SUP>th</SUP> day of November, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in"><U>/s/ Deborah Meinert </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in">Deborah J. Meinert</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in">ESCALADE, INCORPORATED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in">By: <U>_/s/ Robert J. Keller </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in">Name: <U>Robert J. Keller</U>_</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in">Title: <U>_Chief Executive Officer</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html><head><META content="text/html; charset=utf-8"></META></head><body style="font-size:10pt;font-family:Arial;color:black;"><div style="width:100%;margin-left:10pt">
<p style="text-align:center"><b>Escalade Announces Executive Management Change</b></p></div><div style="width:100%;margin-left:10pt;"><div style="margin:0;margin-top:16pt;"><p>EVANSVILLE, Ind., Nov. 12, 2014 /PRNewswire/ -- Escalade, Incorporated (NASDAQ: ESCA) announced today that it will be consolidating its finance and accounting department effective at the end of its fiscal year on December 27, 2014. At that time, Stephen R. Wawrin will assume the additional duties as Escalade&#39;s Vice President, Finance and Chief Financial Officer. Since 2008, Mr. Wawrin has served as Vice President &#8211;Finance and Administration for Escalade&#39;s Sporting Goods business. He joined Escalade in 2005, and previously served as Corporate Controller for Escalade, Inc. Mr. Wawrin will succeed Deborah J. Meinert, Escalade&#39;s current Vice President Finance, Chief Financial Officer, and Secretary,
who will be leaving Escalade at that time.</p><div style="TEXT-ALIGN: left; WIDTH: 100%" id="prni_dvprnejpg6bf1left"><img src="mm72120logo.jpg" id="prnejpg6bf1left" title="Escalade, Inc." border="0" alt="Escalade, Inc." align="middle"></div><p>The decision to restructure Escalade&#39;s finance and accounting department results from Escalade&#39;s strategic decision to focus on its Sporting Goods business. With the divestiture of its Information Security and Print Finishing business, Escalade&#39;s executive management and board of directors determined that certain functions could be consolidated. This management change does not impact or in any way relate to the financial statements or reporting of Escalade or its subsidiaries.         </p><p>Robert J. Keller, Escalade&#39;s President and Chief Executive Officer, said, &#34;We thank Deborah for her service over the last seven years.
Deborah has made many contributions to the success of Escalade, and we wish her the best in the future.&#34;  Mr. Keller continued, &#34;Stephen is an integral part of our Sporting Goods team and we look forward to his continued leadership as we seek to grow our Sporting Goods business.  We anticipate a smooth transition in the Company&#39;s business and financial operations as Stephen assumes his expanded role.&#34;  </p><p>Escalade is a leading manufacturer and marketer of sporting goods products sold worldwide. To obtain more information on the Company and its products, visit our website at: www.EscaladeInc.com or contact Robert J. Keller, President and CEO at 812/467-1288.</p><p>FORWARD LOOKING STATEMENTS</p><p><i>Statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include,
but are not limited to,  risks relating to changes to our management team, the impact of competitive products and pricing, product demand and market acceptance, new product development, Escalade&#39;s ability to achieve its business objectives, especially with respect to its Sporting Goods business on which it has chosen to focus, Escalade&#39;s ability to successfully achieve the anticipated results of strategic transactions, including the integration of the operations of acquired assets and businesses and the divestiture of its Information Security and Print Finishing Segment, the continuation and development of key customer and supplier relationships, Escalade&#39;s ability to control costs, general economic conditions, fluctuations in operating results, changes in foreign currency exchange rates, changes in the securities markets, Escalade&#39;s ability to obtain financing and to
maintain compliance with the terms of such financing, and other risks detailed from time to time in Escalade&#39;s filings with the Securities and Exchange Commission. Copies of these filings are available from the Company and on the SEC&#39;s website at </i><i>www.sec.gov</i><i>.  Escalade&#39;s future financial performance could differ materially from the expectations of management contained herein.  Escalade undertakes no obligation to release revisions to these forward-looking statements after the date of this press release.</i></p><p>Logo - http://photos.prnewswire.com/prnh/20130830/MM72120LOGO  </p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
