<SUBMISSION>
<ACCESSION-NUMBER>0000914760-06-000089
<TYPE>SC 13D/A
<PUBLIC-DOCUMENT-COUNT>3
<FILING-DATE>20060508
<DATE-OF-FILING-DATE-CHANGE>20060508
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>ASHWORTH INC
<CIK>0000820774
<ASSIGNED-SIC>2320
<IRS-NUMBER>841052000
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1031
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13D/A
<ACT>34
<FILE-NUMBER>005-41392
<FILM-NUMBER>06817460
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2765 LOKER AVE WEST
<CITY>CARLSBAD
<STATE>CA
<ZIP>92008
<PHONE>7604386610
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2765 LOKER AVENUE WEST
<CITY>CARLSBAD
<STATE>CA
<ZIP>92008
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>CHARTER GOLF INC
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>Knightspoint Partners II, L.P.
<CIK>0001351122
<IRS-NUMBER>000000000
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13D/A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>787 SEVENTH AVENUE, 9TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10019
<PHONE>212-786-6050
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>787 SEVENTH AVENUE, 9TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10019
</MAIL-ADDRESS>
</FILED-BY>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>k70262_13da3.txt
<DESCRIPTION>AMENDMENT NO. 3
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13D
                  Under the Securities and Exchange Act of 1934
                                (Amendment No. 3)



                                 ASHWORTH, INC.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                    COMMON STOCK, PAR VALUE $0.001 PER SHARE
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    04516H101
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                                         with a copy to:

           David Meyer                               Stanley H. Meadows, P.C
  c/o Knightspoint Partners LLC                          Heidi J. Steele
  787 Seventh Avenue, 9th Floor                     McDermott Will & Emery LLP
     New York, New York 10019                         227 West Monroe Street
          (212) 786-6050                             Chicago, Illinois 60606
                                                          (312) 372-2000

--------------------------------------------------------------------------------
                     (Name, Address and Telephone Number of
           Persons Authorized to Receive Notices and Communications)

                                   MAY 5, 2006
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

         If the person filing has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box. |_|

         Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.

         *The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

<PAGE>

         The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Knightspoint Partners II, L.P.
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         WC
--------------------------------------------------------------------------------
(5)     Check if disclosure of legal proceedings is required pursuant to
        Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         Delaware
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            200
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 200
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         200
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions)

         PN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Knightspoint Capital Management II LLC
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         Delaware
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            200
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 200
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         200
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         OO
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101
--------------------------------------------------------------------------------

(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Knightspoint Partners LLC                            81-0604786
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         Delaware
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            200
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 200
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         200
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         OO
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1) Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Michael Koeneke
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         PF
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            18,200
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 200
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 18,200
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 200
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         18,400
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         David Meyer
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         PF
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            34,000
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 200
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 34,000
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 200
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         34,200
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Starboard Value and Opportunity Master Fund Ltd.
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)     Source of Funds (see Instructions)

         WC
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         Cayman Islands
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            811,821
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 811,821
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         811,821
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         5.7%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         CO
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Parche, LLC                                 20-0870632
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         WC
--------------------------------------------------------------------------------
(5)     Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         Delaware
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            154,634
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 154,634
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         154,634
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1.1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         OO
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Admiral Advisors, LLC                                37-1484525
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         Delaware
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            966,455
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 966,455
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         966,455
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         6.8%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         OO
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Ramius Capital Group, LLC                                    13-3937658
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
        of a Group (See Instructions)          (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         Delaware
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            966,455
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 966,455
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         966,455
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         6.8%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         OO IA
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         C4S & Co., LLC                              13-3946794
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
        of a Group (See Instructions)          (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         Delaware
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            966,455
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 966,455
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         966,455
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         6.8%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         OO
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Peter A. Cohen
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            0
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 966,455
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 0
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 966,455
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         966,455
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         6.8%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Jeffrey M. Solomon
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            0
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 966,455
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 0
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 966,455
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         966,455
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         6.8%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Morgan B. Stark
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            0
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 966,455
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 0
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 966,455
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         966,455
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         6.8%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Thomas W. Strauss
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            0
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 966,455
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 0
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 966,455
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         966,455
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         6.8%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Black Sheep Partners, LLC
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         WC
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         Delaware
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            41,678
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 41,678
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         41,678
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         OO
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Brian Black
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) /x/
         of a Group (See Instructions)         (b) / /
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            41,678
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 41,678
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         41,678
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Michael Glazer
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) / /
         of a Group (See Instructions)         (b) /x/
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         PF
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            7,000
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 7,000
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         7,000
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         H. Michael Hecht
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) / /
         of a Group (See Instructions)         (b) /x/
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         PF
--------------------------------------------------------------------------------
(5)     Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            1,000
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 1,000
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         1,000
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Peter M. Weil
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) / /
         of a Group (See Instructions)         (b) /x/
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         PF
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            1,500
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 1,500
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         1,500
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
         (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         Less than 1%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

CUSIP NO. 04516H101

--------------------------------------------------------------------------------
(1)      Names of Reporting Persons.
         S.S. or Identification Nos. of above persons (entities only).

         Andrea Weiss
--------------------------------------------------------------------------------
(2)      Check the Appropriate Box if a Member (a) / /
         of a Group (See Instructions)         (b) /x/
--------------------------------------------------------------------------------
(3)      SEC Use Only

--------------------------------------------------------------------------------
(4)      Source of Funds (see Instructions)

         N/A
--------------------------------------------------------------------------------
(5)      Check if disclosure of legal proceedings is required pursuant to
         Items 2(d) or 2(e).

--------------------------------------------------------------------------------
(6)      Citizenship or Place of Organization

         USA
--------------------------------------------------------------------------------
Number of Shares        (7)      Sole Voting Power
Beneficially Owned by
Each Reporting Person            0
with:
                        --------------------------------------------------------
                        (8)      Shared Voting Power

                                 0
                        --------------------------------------------------------
                        (9)      Sole Dispositive Power

                                 0
                        --------------------------------------------------------
                        (10)     Shared Dispositive Power

                                 0
--------------------------------------------------------------------------------
(11)     Aggregate Amount Beneficially Owned by Each Reporting Person

         0
--------------------------------------------------------------------------------
(12)     Check if the Aggregate Amount in Row (11) Excludes Certain Shares
        (See Instructions)  / /

--------------------------------------------------------------------------------
(13)     Percent of Class Represented by Amount in Row (11)

         0%
--------------------------------------------------------------------------------
(14)     Type of Reporting Person (See Instructions)

         IN
--------------------------------------------------------------------------------

<PAGE>

This Amendment No. 3 ("Amendment No. 3") amends and supplements the Schedule 13D
filed on January 23, 2006, as amended to date ("Schedule 13D") by the Reporting
Persons listed below. Unless otherwise indicated, all capitalized terms in this
Amendment No. 3 shall have the meanings set forth in the original Schedule 13D
for such terms. This Amendment No. 3 amends the Schedule 13D to include the
information set forth in each item of this Schedule 13D.

ITEM 2.           IDENTITY AND BACKGROUND.

         Item 2 is hereby amended to add the following:

         In connection with the Settlement Agreement described and defined in
Item 4, Starboard withdrew its nominations of Michael S. Koneke, David M. Meyer,
Michael Hecht, Andrea Weiss, Peter M. Weil and Michael Glazer for election at
the Company's 2006 Annual Meeting (the "Annual Meeting"). Pursuant to the
Settlement Agreement, the Company agreed to increase the size of the Company's
Board of Directors by two and to fill the newly-created seats by appointing Mr.
Meyer to serve as a Class III Director and Mr. Weil to serve as a Class II
director. The Company also agreed to include Messrs. Meyer and Weil in the
Company's proxy statement for the 2006 Annual Meeting and to recommend their
election and to solicit proxies on their behalf in the same manner as for the
Company's other nominees for election at the Annual Meeting.

         Each of Michael Hecht, Michael Glazer and Andrea Weiss is no longer
member of the Section 13(d) group and shall cease to be a Reporting Person
immediately after the filing of this Statement. The remaining Reporting Persons
will continue filing as a group statements on Schedule 13D with respect to their
beneficial ownership of securities of the Company to the extent required by
applicable law.

ITEM 4.           PURPOSE OF TRANSACTION.

         On May 5, 2006, the Reporting Persons and the Company (together, the
"Parties") entered into a Settlement Agreement (the "Settlement Agreement"), a
copy of which is attached hereto as Exhibit 8 and is incorporated herein by
reference. Pursuant to the Settlement Agreement, the Knightspoint Group agreed
to withdraw (i) its nominations of Michael S. Koneke, David M. Meyer, Michael
Hecht, Andrea Weiss, Peter M. Weil and Michael Glazer for election to the Board
at the 2006 Annual Meeting and (ii) each of the other proposals set forth in the
Knightspoint Group notice dated December 22, 2005 (the "Notice") and any other
stockholder proposal with respect to the 2006 Annual Meeting. The Company agreed
pursuant to the Board's written consent effective May 8, 2006 to (i) increase
the size of the Board of Directors by two and fill the newly-created seats by
appointing Mr. Meyer to serve as a Class III Director and Mr. Weil to serve as a
Class II Director, (ii) authorize the further increase of the size of the Board
by one to be effective upon the appointment of a new director to the Board,
which new director shall be mutually agreed to by the Knightspoint Group, on the
one hand and the Company's current Board, on the other, (the "Third Director")
and at such time, the board shall take appropriate action to cause the Third
Director to serve as a Class II director and move Mr. Weil so that he will serve
as a Class I director; (iii) create a Special Committee of the Board, which
shall have the oversight responsibility of the Company's strategic alternatives
process and which shall include Mr. Meyer and Mr. Weil as members; and (iv) to
appoint Mr. Meyer to the Compensation and Human Resources Committee of the
Board. The Company further agreed that it shall (i) cause to be nominated for
election as directors the Board of Directors at the 2006 Annual Meeting each of
(x) the existing directors of the Company, (y) Mr. Meyer to serve as a Class III
director and (z) Mr. Weil and the third director to service to serve as a Class
I and Class II Directors, respectively, and if the third director has not been
agreed to prior to such date then Mr. Weil shall be nominated to serve as a
Class II director; (ii) publicly support and recommend that the Company's
stockholders vote to elect the 2006 nominees as directors of the Company at the
2006 Annual Meeting; (iii) include the foregoing recommendation in its proxy
materials for the 2006 Annual Meeting; and (iv) solicit authority to vote for
the 2006 nominees at the 2006 Annual Meeting.

         Under the Settlement Agreement, the Company agreed that the members of
the Knightspoint Group shall be entitled to nominate directors and propose other
business at the 2007 annual meeting of stockholders, provided that such members
comply with all applicable provisions of the Company's Bylaws, as currently in
effect, and the Company will not take any action to preclude members of the
Knightspoint Group from nominating directors or proposing other business at the
2007 Annual Meeting, but any such nomination or proposal must be submitted in
compliance with the applicable provisions of the Company's Bylaws, as currently
in effect, and other applicable law. If the Third Director is not elected to the
Board at the 2006 Annual Meeting, the Company agreed to cause the Third Director
to be nominated for election to the Board at the 2007 Annual Meeting, to serve
as a Class II director, publicly support and recommend that the Company's
stockholders vote to elect the Third Director to the Board at the 2007 Annual
Meeting, and solicit authority (and the Company's proxy shall so solicit) to
vote for the Third Director at the 2007 Annual Meeting.

         So long as the Company has not breached the Settlement Agreement, each
member of the Knightspoint Group severally, and not jointly, agreed that during
the period commencing on May 5, 2006 and ending on the termination date of the
Settlement Agreement, without the prior written consent of the Board
specifically expressed in a written resolution adopted by a majority vote of the
entire Board, he, she or it will not, and will cause each of his, her or its
officers, agents and other Persons, including any affiliates or associates
identified in the Schedule 13D, but excluding the Other Reporting Persons
(except for Peter M. Weil), acting on his, her or its behalf not to: (i) engage,
or in any way participate, directly or indirectly, in any "solicitation" (as
such term is defined in Rule 14a-1(l) promulgated by the SEC under the Exchange
Act) of proxies or consents (whether or not relating to the election or removal
of directors), advise, encourage or influence any person with respect to the
voting of any Voting Securities (as defined in the Settlement Agreement) of the
Company with respect to the 2006 Annual Meeting in a manner that is inconsistent
with the terms of this Agreement; or otherwise "solicit" (as such term is
defined in Rule 14a-1(l) promulgated by the SEC under the Exchange Act)
stockholders of the Company for the approval of stockholder proposals whether
made pursuant to Rule 14a-8 or Rule 14a-4 or exempt solicitations pursuant to
Rule 14a-2(b)(1) Rule 14a-2(b)(2) under the Exchange Act or otherwise induce or
encourage any other Person to initiate any such stockholder proposal; (ii) form,
join or in any way participate in any "group" (within the meaning of Section
13(d)(3) of the Exchange Act) with respect to any Voting Securities, other than
a "group" that includes all or some lesser number of the persons identified as
"Reporting Persons" in the Schedule 13D, but does not include any other members
who are not currently identified as Reporting Persons; (iii) other than as
previously disclosed in the Schedule 13D, deposit any Voting Securities in any
voting trust or subject any Voting Securities to any arrangement or agreement
with respect to the voting of any Voting Securities of the Company, except as
expressly set forth in this Agreement; (iv) enter into any arrangements,
understanding or agreements (whether written or oral) with, or advise, finance,
assist or encourage, any other person in connection with any of the foregoing,
or make any investment in or enter into any arrangement with, any other person
that engages, or offers or proposes to engage, in any of the foregoing; (v)
discuss or communicate any confidential information with respect to the Company
and its business, including but not limited to information related to the
evaluation of any strategic alternatives under consideration by the Board, with
one of its nominees who had previously served as a director of the Company; or
(vi) take or cause or induce others to take any action inconsistent with any of
the foregoing. The Settlement Agreement provides that the foregoing shall not be
deemed to prohibit (y) any of the members of the Knightspoint Group who are
directors of the Company from engaging in any lawful acts that they deem
appropriate in the exercise of their fiduciary duties as directors of the
Company or (z) any members of the Knightspoint Group from making any public
statements regarding the Company in response to any public communication or
announcement with respect to the Company, including, without limitation, in
connection with any public proposal, stockholder vote or with respect to any
publicly proposed strategic alternatives related to the Company, but not
including any public statement with respect to the stockholder vote at the 2006
Annual Meeting of the Company regarding the Company's nominees for director as
the 2006 Meeting.

         The Settlement Agreement shall remain in effect from May 5, 2006 to the
earlier of (i) 130 days prior the date of the 2007 Annual Meeting and (ii) ten
days before the date by which stockholder notices must be delivered to the
Company for the 2007 Annual Meeting pursuant to the Company's bylaws (the
"Standstill Period").

         Under the Settlement Agreement, the Knightspoint Group released the
Company from claims in connection with the proxy solicitation, including the
nomination and election of directors at the 2006 annual meeting. The Company
released the Knightspoint Group from any claims in connection with the proxy
solicitation, any Schedule 13D filings or proxy filings. In accordance with the
Settlement Agreement, the Parties issued a press release on May 5, 2006
announcing the execution of the Settlement Agreement, the form of which is
attached hereto as Exhibit 9 and is incorporated herein by reference.

ITEM 5.           INTEREST IN SECURITIES OF THE ISSUER.

         (a) and (b) As of the date hereof, the Reporting Persons own an
aggregate of 1,070,033 shares of Common Stock, representing approximately 7.5%
of the outstanding shares of Common Stock based upon 14,267,467 shares reported
by the Company to be outstanding as of January 31, 2006, as reported in its
Annual Report on Form 10-K for the year ended October 31, 2005, as amended on
February 28, 2006. As of the date hereof, the Knightspoint Group owns an
aggregate of 1,060,533 shares of Common Stock, representing approximately 7.4%
of the outstanding shares of Common Stock. As of the date hereof, the Other
Reporting Persons own an aggregate of 9,500 shares of Common Stock, representing
less than 1% of the outstanding shares of Common Stock.

<PAGE>

         Each Reporting Person disclaims beneficial ownership of, and has
excluded from the aggregate number of shares shown as beneficially owned by it,
shares of Common Stock deemed to be beneficially owned by the group solely as a
result of Rule 13d-5(b)(1) under the Securities Exchange Act of 1934, as
amended.

         As of the date hereof, Knightspoint Partners II, L.P. beneficially owns
an aggregate of 200 shares of Common Stock, representing less than 1% of the
outstanding shares of Common Stock. Knightspoint Partners II, L.P. has sole
voting and dispositive power over the shares of Common Stock beneficially owned
by it. By virtue of the relationships described under Item 2 of this Amendment
No. 2, Knightspoint Partners LLC and Knightspoint Capital Management II LLC may
both be deemed to have indirect beneficial ownership of the 200 shares of Common
Stock held by Knightspoint Partners II, L.P. Knightspoint Partners LLC and
Knightspoint Capital Management II LLC each have sole voting and dispositive
power over the shares of Common Stock beneficially owned by it. In addition, by
virtue of the relationships described under Item 2 of this Amendment No. 2,
Michael Koeneke and David Meyer may both be deemed to have indirect beneficial
ownership of the 200 shares of Common Stock held by Knightspoint Partners II,
L.P. Messrs. Koeneke and Meyer share voting and dispositive power over the
shares of Common Stock held by Knightspoint Partners II, L.P.

         As of the date hereof, Messrs. Koeneke and Meyer separately and
individually own an additional 18,200 and 34,000 shares of Common Stock
respectively, representing less than 1% of the outstanding shares of Common
Stock. Messrs. Koeneke and Meyer have sole voting and dispositive power over the
shares of Common Stock held by them personally.

         As of the date hereof, each of Starboard Value and Opportunity Master
Fund Ltd. and Parche, LLC beneficially own 811,821 and 154,634 shares of Common
Stock, respectively, constituting approximately 5.7% and 1.1%, respectively, of
the outstanding shares of Common Stock. As the investment manager of Starboard
Value and Opportunity Master Fund Ltd. and the managing member of Parche, LLC,
Admiral Advisors, LLC may be deemed to beneficially own the shares of Common
Stock owned by Starboard Value and Opportunity Master Fund Ltd. and Parche, LLC,
representing an aggregate of 966,455 shares, constituting approximately 6.8% of
the outstanding shares of Common Stock. As the sole member of Admiral Advisors,
LLC, Ramius Capital Group, LLC may be deemed to beneficially own the shares of
Common Stock owned by Starboard Value and Opportunity Master Fund Ltd. and
Parche, LLC, representing an aggregate of 966,455 shares, constituting
approximately 6.8% of the outstanding shares of Common Stock. As the managing
member of Ramius Capital Group, LLC, C4S & Co., LLC may be deemed to
beneficially own the shares of Common Stock owned by Starboard Value and
Opportunity Master Fund Ltd. and Parche, LLC, representing an aggregate of
966,455 shares, constituting approximately 6.8% of the outstanding shares of
Common Stock. As the managing members of C4S & Co., LLC, each of Peter A. Cohen,
Jeffrey M. Solomon, Morgan B. Stark and Thomas W. Strauss may be deemed to
beneficially own the shares of Common Stock owned by Starboard Value and
Opportunity Master Fund Ltd. and Parche, LLC, representing an aggregate of
966,455 shares, constituting approximately 6.8% of the outstanding shares of
Common Stock. Each of Messrs. Cohen, Solomon, Stark and Strauss share voting and
dispositive power with respect to the shares of Common Stock owned by Starboard
Value and Opportunity Master Fund Ltd. and Parche, LLC by virtue of their shared

<PAGE>

authority to vote and dispose of such shares. Messrs. Cohen, Solomon, Stark and
Strauss disclaim beneficial ownership of such shares.

         As of the date hereof, Black Sheep Partners, LLC beneficially owns an
aggregate of 41,678 shares of Common Stock, representing less than 1% of the
outstanding shares of Common Stock. Black Sheep, LLC has sole voting and
dispositive power over the shares of Common Stock beneficially owned by it. In
addition, by virtue of the relationships described under Item 2 of this
Amendment No.2, Brian Black may be deemed to have indirect beneficial ownership
of the 41,678 shares of Common Stock held by Black Sheep Partners, LLC. Mr.
Black has sole voting and dispositive power over the shares of Common Stock held
by Black Sheep Partners, LLC.

         As of the date hereof, Peter Weil beneficially owns an aggregate of
1,500 shares of Common Stock, representing less than 1% of the outstanding
shares of Common Stock. Mr. Weil has sole voting and dispositive power over the
shares of Common Stock beneficially owned by him.

         As of the date hereof, Mr. Hecht beneficially owned 1,000 shares of
Common Stock, Michael Glazer beneficially owned 7,000 shares of Common Stock and
Andrea Weiss did not own any shares of Common Stock.

         (c) No purchases of Common Stock by any member of the Knightspoint
Group has occurred in the sixty day period prior to filing this report.

         (d)

         Not applicable.

         (e)

         Not applicable.

ITEM 6.           CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
                  RESPECT TO SECURITIES OF THE ISSUER.

         On May 5, 2006, the Company and the Knightspoint Group entered into a
Settlement Agreement, which is described in Item 4.

         In connection with the Settlement Agreement, the Knightspoint Group has
agreed to pay each of Michael Hecht, Andrea Weiss and Michael Glazer $10,000 for
their services as nominees pursuant to the Notice.

ITEM 7.           MATERIAL TO BE FILED AS EXHIBITS.

*1.      Power of Attorney executed by David Meyer, Michael Koeneke, Black Sheep
         Partners, LLC, Brian Black, Michael Glazer, H. Michael Hecht, Peter M.
         Weil and Andrea Weiss authorizing Michael Koeneke and David Meyer, or
         either of them, to sign and file Schedule 13Ds and related documents on
         behalf of each person who has executed the Power of Attorney.

*2.      Power of Attorney executed by Peter A. Cohen, Jeffrey M. Solomon,
         Morgan B. Stark and Thomas W. Strauss authorizing Peter A. Cohen,
         Jeffrey M. Solomon, Morgan B. Stark and Thomas W. Strauss, or any of
         them, to sign and file Schedule 13Ds and related documents on behalf of
         each person who has executed the Power of Attorney.

*3.      Joint Filing Agreement, dated January 20, 2006, between and among the
         Reporting Persons, pursuant to Rule 13d-1(k) of the Securities Exchange
         Act of 1934, as amended.

*4.      Letter from Knightspoint Partners II, L.P. to the Company, dated
         December 22, 2005, providing notice of director nominations and other
         business for the 2006 Annual Meeting of stockholders.

*5.      Press release issued on February 27, 2006, incorporated herein by
         reference to the filing on Schedule 14A, pursuant to Rule 14a-12 under
         Securities Exchange Act of 1934, as amended, by the Knightspoint Group
         on February 27, 2006.

*6.      Preliminary Proxy Statement on Schedule 14A of the Knightspoint Group
         filed with the Securities and Exchange Commission, incorporated herein
         by reference to the Schedule 14A filed with the Securities and Exchange
         Commission on March 2, 2006 by the Knightspoint Group.


<PAGE>

**7.       Preliminary Proxy Statement on Schedule 14A of the Knightspoint Group
         filed with the Securities and Exchange Commission, incorporated herein
         by reference to the Schedule 14A filed with the Securities and Exchange
         Commission on March 23, 2006 by the Knightspoint Group.

8.       Settlement Agreement among Knightspoint Partners II, L.P.; Knightspoint
         Capital Management II LLC; Knightspoint Partners LLC; Michael S.
         Koeneke; David M. Meyer; Starboard Value and Opportunity Master Fund
         Ltd.; Parche, LLC; Admiral Advisors, LLC; Ramius Capital Group, LLC;
         C4S & Co., LLC; Peter A. Cohen; Morgan B. Stark; Jeffrey M. Solomon;
         Thomas W. Strauss; Black Sheep Partners, LLC; Brian Black; Peter M.
         Weil and Ashworth, Inc., dated May5, 2006.

9.       Press release issued by Ashworth, Inc., dated May 5, 2006.


---------------
*  Previously filed with the Schedule 13D filed on January 23, 2006.
** Previously filed with the Schedule 13D filed on March 23, 2006.

<PAGE>

                                    SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Dated: May 5, 2006                    KNIGHTSPOINT PARTNERS II, L.P.

                                      By: Knightspoint Capital Management II LLC
                                      Its: General Partner

                                      By: Knightspoint Partners LLC
                                      Its: Member

                                      By:  /s/ David Meyer
                                         ---------------------------------------
                                      Name: David Meyer
                                      Title: Managing Member

                                      KNIGHTSPOINT CAPITAL MANAGEMENT II LLC

                                      By: Knightspoint Partners LLC
                                      Its: Member

                                      By:  /s/ David Meyer
                                         ---------------------------------------
                                      Name: David Meyer
                                      Title: Managing Member

                                      KNIGHTSPOINT PARTNERS LLC

                                      By: /s/ David Meyer
                                         ---------------------------------------
                                      Name: David Meyer
                                      Title: Managing Member

                                      /s/ David Meyer
                                      ------------------------------------------
                                      David Meyer
                                      Individually and as attorney-in-fact for
                                      each of Michael Koeneke, Black Sheep
                                      Partners, LLC, Brian Black, H. Michael
                                      Hecht, Peter Weil and Andrea Weiss

                                STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD.

                                PARCHE, LLC

                                ADMIRAL ADVISORS, LLC

                                     By: Ramius Capital Group, LLC

<PAGE>

                                     Its: Managing Member

                                     By: C4S & Co., LLC
                                     Its: Managing Member

                                RAMIUS CAPITAL GROUP, LLC

                                     By: C4S & Co., LLC
                                     Its: Managing Member

                                C4S & CO., LLC

                                By: /s/ Morgan B. Stark
                                   ---------------------------------------------
                                   Name: Morgan B. Stark
                                   Title: Authorized Person

                                /s/ Morgan B. Stark
                                ------------------------------------------------
                                Morgan B. Stark
                                Individually and as attorney-in-fact for each of
                                Peter A. Cohen, Jeffrey M. Solomon and Thomas W.
                                Strauss

</TEXT>
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<FILENAME>k70262_x101may5.htm
<DESCRIPTION>SETTLEMENT AGREEMENT
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=2>SETTLEMENT AGREEMENT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>SETTLEMENT AGREEMENT, dated this 5th day of May, 2006 (&#147;Agreement&#148;), among Knightspoint Partners II, L.P.; Knightspoint Capital Management II LLC; Knightspoint Partners LLC; Michael S. Koeneke; David M. Meyer; Starboard Value and Opportunity Master Fund Ltd.; Parche, LLC; Admiral Advisors, LLC; Ramius Capital Group, LLC; C4S &amp; Co., LLC; Peter A. Cohen; Jeffrey M. Solomon; Morgan B. Stark; Thomas W. Strauss; Black Sheep Partners, LLC; Brian Black and Peter M. Weil (the foregoing individuals and entities being collectively referred to herein as the &#147;Knightspoint Group&#148;), and Ashworth, Inc., a Delaware corporation (the &#147;Company&#148;).</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>WHEREAS, the Knightspoint Group (i)&nbsp;has publicly filed and amended a preliminary proxy statement on Schedule 14A (the &#147;Proxy Statement&#148;) with the Securities and Exchange Commission (the &#147;SEC&#148;) and indicated that it intends to solicit proxies for the election of its own opposition slate of nominees (the &#147;Proxy Solicitation&#148;) to the Company&#146;s Board of Directors (the &#147;Board&#148;), and (ii)&nbsp;has taken certain actions in furtherance thereof; and </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>WHEREAS, the Company and the members of the Knightspoint Group have determined that the interests of the Company and its stockholders would be best served by avoiding the substantial expense, disruption and adverse publicity that would result from the Proxy Solicitation.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>NOW, THEREFORE, in consideration of the foregoing premises and the respective representations, warranties, covenants, agreements and conditions hereinafter set forth, and, intending to be legally bound hereby, the parties hereby agree as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>1.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><u><font size=2>New Directors; 2006&nbsp;Annual Meeting of Stockholders (the &#147;2006&nbsp;Annual Meeting&#148;); Related Matters</font></u><font size=2>.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>In accordance with the Company&#146;s Bylaws and pursuant to the Board&#146;s written consent attached hereto as Exhibit A, effective May 8, 2006, the Company shall, </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:1.07in;text-align:left;'><font size=2> (i) </font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>increase the size of the Board by two (2) and fill the newly created seats by appointing each of Peter M. Weil and David M. Meyer as a director to the Board to serve on Class II and Class III, respectively, which individuals hereby consent to their appointment to the Board and future nomination as contemplated by Paragraph&nbsp;1(b) below;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:1.07in;text-align:left;'><font size=2> (ii) </font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>authorize the further increase in the size of the Board by one&nbsp;(1) to be effective upon the appointment of a new director (the &#147;Third Director&#148;) to the Board to serve as a Class II Director, which Third Director shall be mutually agreed upon as soon as practicable by the Knightspoint Group, on the one hand, and the Company&#146;s current Board, on the other, and at such time the Board shall take all appropriate action, to the extent within the power of the Board and permitted by applicable state law, to move Mr.&nbsp;Weil so that he will serve as a Class I director;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:1.07in;text-align:left;'><font size=2> (iii)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>create a Special Committee of the Board, which shall have oversight responsibility for the Company&#146;s strategic alternatives process and may take part in the daily activities of the process, to the extent it deems appropriate, and will promptly report all deliberations and recommendations to the Company&#146;s full Board for the Board&#146;s information and consideration of binding action. The Special Committee shall consist of five (5) Board members, including Mr.&nbsp;Meyer and Mr.&nbsp;Weil and three&nbsp;(3) Board members selected by the Company&#146;s current Board; and </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:1.07in;text-align:left;'><font size=2> (iv) </font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>appoint Mr.&nbsp;Meyer to the Compensation and Human Resources Committee of the Board.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1.07in;text-align:left;'><font size=2> (b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The Company shall (i) cause to be nominated for election as directors to the Board at the 2006 Annual Meeting each of: (x) the existing directors whose terms are currently scheduled to expire at the 2006 Annual Meeting and any directors that are otherwise required to be put up for election at the 2006 Annual Meeting; (y) David M. Meyer to serve as Class III director, and (z) Peter M. Weil and the Third Director to serve as Class I and Class II directors, respectively, provided that the Third Director has been agreed to prior to the date that definitive proxy materials relating to the 2006 Annual Meeting are filed with the SEC, and if the Third Director has not been agreed to prior to such date then Peter M. Weil shall be nominated to serve as a Class II director (the persons listed in clauses
(x), (y) and (z), are collectively referred to herein as the &#147;2006 Nominees&#148;), (ii) publicly support and recommend that the Company&#146;s stockholders vote to elect the 2006 Nominees to the Board at the 2006 Annual Meeting, (iii) include the foregoing recommendation in the Company&#146;s proxy materials for the 2006 Annual Meeting, and (iv) solicit authority (and the Company&#146;s form of proxy shall so solicit) to vote for the 2006 Nominees at the 2006 Annual Meeting. The Company shall use all commercially reasonable efforts to solicit proxies and votes in favor of the election of the 2006 Nominees at the 2006 Annual Meeting. Once the Company and the members of the Knightspoint Group reach agreement on the Third Director, the Board shall take all appropriate action, to the extent permitted by applicable state law, to move Mr.&nbsp;Weil from Class II to Class I, and to appoint the Third Director to serve as a Class II director, so that Mr.&nbsp;Weil shall serve as a Class
I director.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(c)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The members of the Knightspoint Group, shall vote, and shall use their commercially reasonable efforts to cause their respective Affiliates and Associates (as defined in Section 11 hereof) as identified in the Schedule 13D filed by the Knightspoint Group with the SEC on March 23, 2006, as amended (the &#147;Schedule&nbsp;13D&#148;), to vote, all Voting Securities (as defined in Section&nbsp;11 hereof) which they are entitled to vote at the 2006&nbsp;Annual Meeting (i)&nbsp;in favor of the election of each of the 2006&nbsp;Nominees to the Board, and (ii)&nbsp;in accordance with the recommendation of the Board with respect to the ratification of auditors. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(d)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Knightspoint Group hereby withdraws (i) its nominations of Michael S. Koeneke, David M. Meyer, Michael Hecht, Andrea Weiss, Peter M. Weil and Michael Glazer (and any substitutions for such individuals) for election to the Board at the 2006&nbsp;Annual Meeting and (ii) each of the other proposals set forth in the Knightspoint Group notice dated December 22, 2005 (the &#147;Notice&#148;) and any other stockholder proposal with respect to the 2006 Annual Meeting. The Knightspoint Group will promptly file an amendment to the Schedule&nbsp;13D, reporting the entry into this Agreement, amending applicable items to conform to its obligations hereunder and appending this Agreement and the Press Release (as hereinafter defined) as exhibits thereto. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>2</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(e)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The 2006&nbsp;Annual Meeting shall be held on July 17, 2006 or within 30 days thereafter. The Company and the Board shall not submit any matters to a stockholder vote at the 2006&nbsp;Annual Meeting other than: (i) the election of the 2006 Nominees to the Board, (ii) the ratification of the appointment of the Company&#146;s outside auditor, and (iii) any stockholder proposals that are timely submitted pursuant to Rule 14a-8(e) of the Exchange Act that the Company is required to submit to a stockholder vote pursuant to Rule 14a-8 of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;). </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(f)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The Company agrees that the members of the Knightspoint Group shall be entitled to nominate directors and propose other business at the 2007 annual meeting of stockholders (the &#147;2007 Annual Meeting&#148;), provided that such members comply with all applicable provisions of the Company&#146;s Bylaws, as currently in effect, and the Company will not take any action to preclude members of the Knightspoint Group from nominating directors or proposing other business at the 2007 Annual Meeting, but any such nomination or proposal must be submitted in compliance with the applicable provisions of the Company&#146;s Bylaws, as currently in effect, and other applicable law. If the Third Director is not elected to the Board at the 2006 Annual Meeting, the Company shall cause the Third
Director to be nominated for election to the Board at the 2007 Annual Meeting, to serve as a Class II director, publicly support and recommend that the Company&#146;s stockholders vote to elect the Third Director to the Board at the 2007 Annual Meeting, and solicit authority (and the Company&#146;s proxy shall so solicit) to vote for the Third Director at the 2007 Annual Meeting. The obligation to appoint the Third Director in this Section 1(f), and the related obligation to move Mr.&nbsp;Weil from Class II to Class I upon the appointment of the Third Director that is set forth in the last sentence of Section 1(b), shall survive termination provided that this Agreement is not terminated on or before the date of the 2006 Annual Meeting.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(g)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The Company agrees that the Special Committee created pursuant to Section 1(a)(iii) above shall remain in place until the earlier to occur of (i) a completed sale of the Company, (ii) two years after the date hereof, or (iii) such time as 80% of its members shall agree to disband. The obligation for the Special Committee to remain in place as set forth in this Section 1(g) shall survive termination provided that this Agreement is not terminated on or before the date of the 2006 Annual Meeting.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>2.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>TERMINATION DATE</font></U><font size=2>. This Agreement shall remain in full force and effect and shall be fully binding on the parties hereto in accordance with the provisions hereof until the earlier of (i) one hundred thirty (130) days prior to the date of the 2007 Annual Meeting and (ii) ten (10) days before the date by which stockholder notices must be delivered to the Company for the 2007 Annual Meeting pursuant to the applicable provisions of the Company&#146;s Bylaws (the &#147;Termination Date&#148;). In the event the Company (on the one hand) or any member of the Knightspoint Group (on the other hand) materially breaches any of their respective obligations hereunder, and such breach, to the extent curable, is not cured within ten (10) days of receiving written
notice thereof from the non-breaching party, then the obligations, and restrictions imposed, under this Agreement on the non-breaching party shall terminate.</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="216" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.</font></p> </td>
        <td width="120" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><U><font SIZE=2>STANDSTILL</font></U><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>So long as the Company has not breached this Agreement, each member of the Knightspoint Group severally, and not jointly, agrees that during the period commencing on the date hereof and ending on the Termination Date, without the prior written consent of the </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>3</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>Board specifically expressed in a written resolution adopted by a majority vote of the entire Board, he, she or it will not, and will cause each of his, her or its officers, agents and other Persons, including any Affiliates or Associates identified in the Schedule 13D, but excluding the &#147;Other Reporting Persons&#148; (except for Peter M. Weil) as defined in the Schedule 13D, acting on his, her or its behalf not to: </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:1in;text-align:left;'><font size=2>(i)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>engage, or in any way participate, directly or indirectly, in any &#147;solicitation&#148; (as such term is defined in Rule&nbsp;14a-1(l) promulgated by the SEC under the Exchange Act) of proxies or consents (whether or not relating to the election or removal of directors), advise, encourage or influence any Person (as defined in Section 11 hereof) with respect to the voting of any Voting Securities with respect to the 2006 Annual Meeting in a manner that is inconsistent with the terms of this Agreement; or otherwise &#147;solicit&#148; (as such term is defined in Rule&nbsp;14a-1(l) promulgated by the SEC under the Exchange Act) stockholders of the Company for the approval of stockholder proposals whether made pursuant to Rule&nbsp;14a-8 or Rule&nbsp;14a-4 or exempt
solicitations pursuant to Rule 14a-2(b)(1) Rule 14a-2(b)(2) under the Exchange Act or otherwise induce or encourage any other Person to initiate any such stockholder proposal; </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:1in;text-align:left;'><font size=2>(ii)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>form, join or in any way participate in any &#147;group&#148; (within the meaning of Section&nbsp;13(d)(3) of the Exchange Act) with respect to any Voting Securities, other than a &#147;group&#148; that includes all or some lesser number of the Persons identified as &#147;Reporting Persons&#148; in the Schedule&nbsp;13D, but does not include any other members who are not currently identified as Reporting Persons; </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:1in;text-align:left;'><font size=2>(iii)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>other than as previously disclosed in the Schedule 13D, deposit any Voting Securities in any voting trust or subject any Voting Securities to any arrangement or agreement with respect to the voting of any Voting Securities, except as expressly set forth in this Agreement; </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:1in;text-align:left;'><font size=2>(iv)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>enter into any arrangements, understanding or agreements (whether written or oral) with, or advise, finance, assist or encourage, any other Person in connection with any of the foregoing, or make any investment in or enter into any arrangement with, any other Person that engages, or offers or proposes to engage, in any of the foregoing;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:1in;text-align:left;'><font size=2>(v)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>discuss or communicate any confidential information with respect to the Company and its business, including but not limited to information related to the evaluation of any strategic alternatives under consideration by the Board, with Michael Hecht; or </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:1in;text-align:left;'><font size=2>(vi)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>take or cause or induce others to take any action inconsistent with any of the foregoing.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>It is understood and agreed that the foregoing shall not be deemed to prohibit (y) any of the members of the Knightspoint Group who are directors of the Company from engaging in any lawful acts that they deem appropriate in the exercise of their fiduciary duties as directors of the Company or (z) any members of the Knightspoint Group from making any public statements regarding the Company in response to any public communication or announcement with respect to the Company, including, without limitation, in connection with any public proposal, </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>4</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>stockholder vote or with respect to any publicly proposed strategic alternatives related to the Company, but not including any public statement with respect to the stockholder vote at the 2006 Annual Meeting regarding the 2006 Nominees.</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="189" style='border-collapse:collapse'>
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        <td width="48" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:12pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.</font></p> </td>
        <td width="93" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><U><font SIZE=2>RELEASE</font></U><font size=2>.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The Knightspoint Group hereby agrees for the benefit of the Company, and each officer, director, stockholder, agent, affiliate, employee, attorney, assigns, predecessor, and successor, past and present, of the Company (the Company and each such person being a &#147;Company Released Person&#148;) as follows: The Knightspoint Group, for themselves and for their members, officers, directors, assigns, agents, and successors, past and present, hereby agree and confirm that, effective from and after the date of this Agreement, they hereby acknowledge full and complete satisfaction of, and covenant not to sue, and forever fully release and discharge each Company Released Person of, and hold each Company Released Person harmless from, any and all rights, claims, warranties, demands, debts,
obligations, liabilities, costs, attorneys&#146; fees, expenses, suits, losses, and causes of action (&#147;Claims&#148;) of any nature whatsoever, whether known or unknown, suspected or unsuspected, arising in respect of or in connection with the Proxy Solicitation, including the nomination and election of directors at the 2006&nbsp;Annual Meeting or the other proposals contained in the Notice, occurring any time or period of time on or prior to the date of this Agreement (including the future effects of such occurrences, conditions, acts or omissions).</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The Company hereby agrees for the benefit of the Knightspoint Group, and each member, officer, director, stockholder, agent, affiliate, employee, attorney, assign, predecessor, and successor, past and present, of the Knightspoint Group (the Knightspoint Group and each such person being a &#147;Knightspoint Group Released Person&#148;) as follows: The Company, for itself and for its officers, directors, assigns, agents, and successors, past and present, hereby agrees and confirms that, effective from and after the date of this Agreement, it hereby acknowledges full and complete satisfaction of, and covenants not to sue, and forever fully releases and discharges each Knightspoint Group Released Person of, and hold each Knightspoint Group Released Person harmless from, any and all rights,
claims, warranties, demands, debts, obligations, liabilities, costs, attorneys&#146; fees, expenses, suits, losses, and causes of action (&#147;Claims&#148;) of any nature whatsoever, whether known or unknown, suspected or unsuspected, arising in respect of or in connection with the Proxy Solicitation, any Schedule&nbsp;13D or proxy filings made prior to the date hereof or in respect of or in connection with the nomination and election of directors at the 2006&nbsp;Annual Meeting or the other proposals contained in the Notice, occurring any time or period of time on or prior to the date of this Agreement (including the future effects of such occurrences, conditions, acts or omissions).</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>5.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>REPRESENTATIONS AND WARRANTIES OF THE KNIGHTSPOINT GROUP</font></U><font size=2>. Each of the members of the Knightspoint Group severally, and not jointly, represents and warrants as follows: </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Each member of the Knightspoint Group has the power and authority to execute, deliver and carry out the terms and provisions of this Agreement and to consummate the transactions contemplated hereby. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>This Agreement has been duly and validly authorized, executed, and delivered by each member of the Knightspoint Group, constitutes a valid and binding obligation </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>5</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>and agreement of each such member, and is enforceable against each such member in accordance with its terms. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(c)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The members of the Knightspoint Group, together with their Affiliates and Associates, beneficially own, directly or indirectly, as of the date hereof, an aggregate of in excess of 1,000,000 shares of Common Stock of the Company as set forth in SCHEDULE&nbsp;A attached hereto which constitutes all of the Voting Securities of the Company beneficially owned by the members of the Knightspoint Group and their Affiliates and Associates.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(d)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The execution, delivery and performance of this Agreement by each member of the Knightspoint Group does not and will not violate or conflict with (i) any law, rule, regulation, order, judgment or decree applicable to it, or (ii) result in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both could become a default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to which such member is a party or by which it is bound.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(e)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>No consent, approval, authorization, license or clearance of, or filing or registration with, or notification to, any court, legislative, executive or regulatory authority or agency is required in order to permit such member to perform such member&#146;s obligations under this Agreement, except for such as have been obtained.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>6.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>REPRESENTATIONS AND WARRANTIES OF THE COMPANY</font></U><font size=2>. The Company hereby represents and warrants as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The Company has the corporate power and authority to execute, deliver and carry out the terms and provisions of this Agreement and to consummate the transactions contemplated hereby. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>This Agreement has been duly and validly authorized, executed and delivered by the Company, constitutes a valid and binding obligation and agreement of the Company, and is enforceable against the Company in accordance with its terms.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(c)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The execution, delivery and performance of this Agreement by the Company does not and will not violate or conflict with (i) any law, rule, regulation, order, judgment or decree applicable to it, or (ii) result in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both could become a default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to which the Company is a party or by which it is bound.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:1in;text-align:left;'><font size=2>(d)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>No consent, approval, authorization, license or clearance of, or filing or registration with, or notification to, any court, legislative, executive or regulatory authority or agency is required in order to permit the Company to perform its obligations under this Agreement, except for such as have been obtained.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>6</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>7.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>SPECIFIC PERFORMANCE</font></U><font size=2>. Each of the members of the Knightspoint Group, on the one hand, and the Company, on the other hand, acknowledges and agrees that irreparable injury to the other party hereto would occur in the event any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached and that such injury would not be adequately compensable in damages. It is accordingly agreed that the members of the Knightspoint Group, on the one hand, and the Company, on the other hand (the &#147;Moving Party&#148;), shall each be entitled to specific enforcement of, and injunctive relief to prevent any violation of, the terms hereof and the other party hereto will not take action, directly or indirectly,
in opposition to the Moving Party seeking such relief on the grounds that any other remedy or relief is available at law or in equity. The Company and each member of the Knightspoint Group hereby agree to waive any requirements relating to the securing or posting of any bond in connection with seeking any remedy hereunder.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>8.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>PRESS RELEASE</font></U><font size=2>. As soon as practicable following the execution and delivery of this Agreement, the Company and the Knightspoint Group shall issue the joint press release attached hereto as Exhibit&nbsp;B (the &#147;Press Release&#148;). None of the parties hereto will prior to the Termination Date make any public statements (including in any filing with the SEC or any other regulatory or governmental agency, including any stock exchange) that are inconsistent with, or otherwise contrary to, the statements in the Press Release issued pursuant to this Section&nbsp;8, unless otherwise required by law. Notwithstanding the foregoing, following the date hereof, none of the members of the Knightspoint Group, including their Affiliates or Associates identified
in the Schedule 13D, shall prior to the Termination Date issue or cause the publication of any press release or other public announcement with respect to this Agreement, the Company, its management or the Board or the Company&#146;s business without prior written consent of the Board, provided, however, that the Knightspoint Group may (i)&nbsp;file a new Schedule 13D or an amendment or amendments to the Schedule&nbsp;13D in accordance with Section&nbsp;1(c) of this Agreement or as otherwise required by law, (ii)&nbsp;make other filings as required by law, (iii)&nbsp;make any announcement or communication that is consistent with its obligations pursuant to Section&nbsp;3 hereof, including, without limitation, any public announcements or positions as it deems appropriate to the extent the Company or a stockholder of the Company makes a public announcement regarding an extraordinary transaction of any kind or nature involving the Company, or (iv) make filings or public announcements that
the 2006 Nominees upon election to the Board deem appropriate in the exercise of their fiduciary duties.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>9.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>EXPENSES</font></U><font size=2>. Not later two (2) business days following receipt of all appropriate written documentation evidencing the reasonable, documented out-of-pocket fees and expenses listed in Exhibit C attached hereto, the Company shall reimburse the Knightspoint Group for such expenses incurred in connection with the Proxy Solicitation, including without limitation, its Schedule&nbsp;13D and preliminary proxy statement filings, each as amended, and the negotiation and execution of this Agreement and all related activities and matters.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>10.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>NO WAIVER</font></U><font size=2>. All waivers of this Agreement shall be in writing. Any waiver by either the Representative (as hereinafter defined) or the Company of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement. The failure of either the Representative or the Company to insist upon strict adherence to any term of this Agreement on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>7</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>11.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>CERTAIN DEFINITIONS</font></U><font size=2>. As used in this Agreement, (a)&nbsp;the term &#147;Person&#148; shall mean any individual, partnership, corporation, group, syndicate, trust, government or agency, or any other organization, entity or enterprise; (b)&nbsp;the terms &#147;Affiliates&#148; and &#147;Associates&#148; shall have the meanings set forth in Rule&nbsp;12b-2 under the Exchange Act and shall include Persons who become Affiliates or Associates of any Person subsequent to the date hereof; and (c)&nbsp;the term &#147;Voting Securities&#148; shall mean any securities of the Company entitled to vote in the election of directors of the Company, or securities convertible into or exercisable or exchangeable for such securities, whether or not subject to the passage of time or
other contingencies.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>12.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>SUCCESSORS AND ASSIGNS</font></U><font size=2>. Neither this Agreement nor any right, interest or obligation hereunder may be assigned by any party hereto without the prior written consent of the other parties hereto and any attempt to do so will be void. Subject to the preceding sentence, this Agreement is binding upon, inures to the benefit of and is enforceable by the parties hereto and their respective successors and assigns.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>13.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>SURVIVAL. </font></U><font size=2>Provided that this Agreement is not terminated on or before the date of the 2006 Annual Meeting, the Company&#146;s obligations with respect to the appointment of the Third Director and retaining the Special Committee in place as specified in Sections 1(f) (including the related obligation to move Mr.&nbsp;Weil from Class II to Class I upon the appointment of the Third Director that is set forth in the last sentence of Section 1(b))</font><b><font size=2> </font></b><font size=2>and (g) hereto shall survive termination. The provisions of Section 4 of this Agreement shall survive the Termination Date. In addition, all representations and warranties made by the parties in this Agreement under Sections&nbsp;5 and 6 shall survive until the Termination Date. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>14.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>ENTIRE AGREEMENT; AMENDMENTS</font></U><font size=2>. This Agreement contains the entire understanding of the parties hereto with respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings other than those expressly set forth herein. This Agreement may be amended, modified or waived only by a written instrument duly executed by the parties hereto or their respective successors or assigns.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>15.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>HEADINGS</font></U><font size=2>. The section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>16.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>NOTICES</font></U><font size=2>. All notices, demands and other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given (a)&nbsp;when delivered by hand (with written confirmation of receipt), (b)&nbsp;upon sending if sent by e-mail or facsimile, with electronic confirmation of sending; provided, however, that a copy is sent on the same day by registered mail, return receipt requested, in each case to the appropriate mailing and e-mail or facsimile addresses set forth below (or to such other mailing, facsimile and e-mail addresses as a party may designate by notice to the other parties in accordance with this provision), (c)&nbsp;upon receipt, after being sent by a nationally recognized
overnight carrier to the addresses set forth below (or to such other mailing addresses as a party may designate by notice to the other parties in accordance with this Section&nbsp;16) or (d)&nbsp;when actually delivered if sent by any other method that results in delivery (with written confirmation of receipt):</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>8</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>If to the Company:</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in;text-align:left;'><font size=2>Ashworth, Inc.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>2765 Loker Avenue West</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Carlsbad, CA 92008</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Attn: Corporate Secretary</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>with a copy to:</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in;text-align:left;'><font size=2>Gibson, Dunn &amp; Crutcher LLP</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>4 Park Plaza, Suite 1400</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Irvine, CA 92614</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Attn: Mark W. Shurtleff, Esq.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Telecopy: (949) 451-4220</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Email: mshurtleff@gibsondunn.com</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>If to the Knightspoint Group:</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in;text-align:left;'><font size=2>David M. Meyer</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>c/o Knightspoint Partners LLC</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>787 Seventh Avenue, 9th Floor</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>New York, New York 10019</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>with a copy to:</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in;text-align:left;'><font size=2>McDermott Will &amp; Emery LLP</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>227 West Monroe Street</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Chicago, IL 60606</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Attention: Stanley H. Meadows, Esq.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Telecopy: (312) 984-7700</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>Email: smeadows@mwe.com</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>or to such other address as the Person to whom notice is given may have previously furnished to the others in writing in the manner set forth above.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>17.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>GOVERNING LAW</font></U><font size=2>. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without reference to the conflict of laws principles thereof. Each party hereto agrees, on behalf of itself and its Affiliates and Associates, that any actions, suits or proceedings arising out of or relating to this Agreement or the transactions contemplated hereby will be brought solely and exclusively in the courts of the State of Delaware and/or the courts of the United States of America located in the State of Delaware (and the parties agree not to commence any action, suit or proceeding relating thereto except in such courts), and further agrees that service of any process, summons, notice or document by U.S. registered mail to
the respective addresses set forth in Section 16 will be effective service of process for any such action, suit or proceeding brought against any party in any such court. Each party, on behalf of itself and its Affiliates and Associates, irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated hereby, in the courts of the State of Delaware or the United States of America located in the State of Delaware, and hereby further </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>9</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in any inconvenient forum.  Any judgment rendered by a Delaware court may be enforced in any other jurisdiction in the United States. Nothing in this Section 17 shall prevent any of the parties hereto from enforcing its rights under this Agreement or shall impose any limitation on any of the parties or their respective past, present or future general partners, directors, officers, or employees in defending any claim, action, cause of action, suit, administrative action or proceeding of any kind, including, without limitation, any federal, state or other governmental proceeding of any kind, against any of them. The rights and remedies provided in this Agreement are cumulative and do not exclude any rights or remedies provided by law.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>18.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>COUNTERPARTS</font></U><font size=2>. This Agreement may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one and the same Agreement.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>19.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><U><font SIZE=2>KNIGHTSPOINT GROUP REPRESENTATIVE</font></U><font size=2>. Each member of the Knightspoint Group hereby irrevocably appoints David&nbsp;M. Meyer as such member&#146;s attorney-in-fact and representative (the &#147;Representative&#148;), in such member&#146;s place and stead, to do any and all things and to execute any and all documents and give and receive any and all notices or instructions in connection with this Agreement and the transactions contemplated hereby. The Company shall be entitled to rely, as being binding on each member of the Knightspoint Group, upon any action taken by the Representative or upon any document, notice, instruction or other writing given or executed by the Representative.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>20.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>SEVERABILITY. If any terms, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. It is hereby stipulated and declared to be the intention of the parties that the parties would have executed the remaining terms, provisions, covenants and restrictions without including any of such which may be hereafter declared invalid, void or unenforceable. In addition, the parties agree to use all commercially reasonable efforts to agree upon and substitute a valid and enforceable term, provision, covenant or restriction for any of such that is
held invalid, void or enforceable by a court of competent jurisdiction.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>21.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>LITIGATION EXPENSES. In the event of any litigation among any of the parties hereto concerning this Agreement or the transactions contemplated hereby, the prevailing party in such litigation shall be entitled to reimbursement from the party opposing such prevailing party of all reasonable attorneys&#146; fees and costs incurred in connection therewith</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>22.</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>NO ADMISSION. Nothing contained herein shall constitute an admission by any party hereto of liability or wrongdoing. The obligations of the members of the Knightspoint Group hereunder shall be several and not joint. The Company acknowledges and agrees that in no event shall the Other Reporting Persons, as defined in the Schedule 13D, except for Peter M. Weil, be obligated or liable with respect to any of the matters set forth in this Agreement.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>10</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>IN WITNESS WHEREOF, and intending to be legally bound hereby, each of the undersigned parties has executed or caused this Agreement to be executed on the date first above written.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt'><font SIZE=2>ASHWORTH, INC.</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt'><font size=2>By:</font><u><font size=2>/s/Randall L. Herrel, Sr.</font></u><u></u></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="312" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Name:&nbsp;Randall L. Herrel, Sr.</font><br> <font size=2>Title:&nbsp;&nbsp;&nbsp;President and Chief Executive Officer</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt'><font size=2>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C4S &amp; CO., LLC</font><br> <font size=2>Its:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Managing Member</font></p> </td> </tr>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Press Release</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>Source: Ashworth, Inc.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:5pt;text-align:left;'><b><font size=3>Ashworth, Inc. Reaches Agreement with the Knightspoint Group</font></b></p>

<p style=' margin-bottom:5pt; margin-top:0pt;text-align:left;'><font size=1>Friday May 5, 6:00 am ET</font><font size=2> </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>CARLSBAD, Calif.--(BUSINESS WIRE)--May 5, 2006--Ashworth, Inc. (NASDAQ:</font><font COLOR="#0000FF"><U><font SIZE=2>ASHW</font></U></font><font size=2> - </font><font color="#0000FF"><u><font size=2>News</font></u></font><font size=2>) and The Knightspoint Group (&#147;Knightspoint&#148;) today announced that they have reached an agreement relating to Ashworth&#146;s upcoming 2006 Annual Meeting of Stockholders. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Under the terms of the Settlement Agreement, the Company has appointed two of Knightspoint&#146;s proposed candidates, David M. Meyer, Managing Member of Knightspoint Partners LLC, and Peter M. Weil, Partner of Lighthouse Retail Group LLC, as new independent directors to the Board of Directors, effective May 8, 2006. David Meyer and Peter Weil will be included in the Company&#146;s proxy statement as candidates for election at the 2006 Annual Meeting. In addition, a third independent director, to be mutually agreed upon by Knightspoint and the Company, will be added to the Board as soon as practicable. Under the terms of the Settlement Agreement, Mr.&nbsp;Meyer will be appointed to the Compensation and Human Resources Committee and a new Special Committee of five directors will be promptly established (with three of the committee members designated by the Company and two by Knightspoint) for the purpose of
overseeing the Company&#146;s ongoing exploration of strategic alternatives. As part of the settlement, Knightspoint has withdrawn its proposed By-law amendments and its nomination of candidates for election to the Board of Directors and has agreed to vote its shares in favor of all of the Board&#146;s nominees. The Annual Meeting has been scheduled for July 17, 2006. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Randall L. Herrel, Sr., Ashworth&#146;s Chairman and Chief Executive Officer, said, &#147;We are pleased that this matter has been resolved in a manner that serves the best interests of all Ashworth stockholders. Our Board and management team remain focused on continuing to implement the profit improvement initiatives we outlined late last year and further improving the Company&#146;s operations and financial performance. Furthermore, our Board continues to actively work with our independent financial advisor to identify and evaluate a range of strategic alternatives to enhance stockholder value, including a possible sale of the Company.&#148; </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>James B. Hayes, lead independent director of Ashworth&#146;s Board of Directors, said, &#147;The Board of Directors is committed to enhancing value for all Ashworth stockholders. We welcome the input we have received from Knightspoint and believe this agreement represents a positive result for our Company and our stockholders. We look forward to working closely with David and Peter and benefiting from their years of experience to help the Company continue to enhance stockholder value.&#148; </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>On behalf of Knightspoint, Michael S. Koeneke, Managing Member of Knightspoint Partners, said, &#147;We are pleased to be able to work constructively with Ashworth with the shared goal of maximizing the value of the Company. We look forward to playing an active role in the Company&#146;s ongoing exploration of strategic alternatives and are confident that our nominees to the Board will bring the energy and determination to help see the process through to a successful conclusion.&#148; </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>David Meyer </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Mr.&nbsp;Meyer, 37, is a Managing Member of Knightspoint Partners LLC, an investment firm he co-founded in March 2003. Mr.&nbsp;Meyer has served as Chairman of the Board of Directors of CPI Corp. (NYSE:</font><font COLOR="#0000FF"><U><font SIZE=2>CPY</font></U></font><font size=2> - </font><font color="#0000FF"><u><font size=2>News</font></u></font><font size=2>) since April 2004 and served as a member of the interim Office of the Chief Executive of CPI Corp. in 2004-2005. From 1995 to 2002, Mr.&nbsp;Meyer served in various capacities at Credit Suisse First Boston including, as a director in the Mergers and Acquisitions and Global Industrial and Services Groups in the firm&#146;s London office. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Mr.&nbsp;Meyer received a B.S. in Engineering/Operations Research from Princeton University in 1990 and an M.B.A. from Stanford University in 1995. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Peter Weil </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Mr.&nbsp;Weil, 54, is a Partner of Lighthouse Retail Group LLC, a consulting firm specializing in improving operating and positioning strategies for retailers. From 1996 to 2004, he was Senior Vice President/Director of Retail Forward, formerly PriceWaterhouseCoopers&#146; retail consulting group. He previously held Senior Vice President positions with Macys, Marshalls, and J Baker/Morse Shoe in merchandising and supply chain management. Mr.&nbsp;Weil&#146;s consulting clients have included Hewlett-Packard, Disney, Brooks Brothers, Nordstrom, Family Dollar and Loblaws. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>About Ashworth, Inc. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Ashworth, Inc. is a designer of men&#146;s and women&#146;s golf-inspired lifestyle sportswear distributed domestically and internationally in golf pro shops, resorts, upscale department and specialty stores and to corporate customers. Ashworth products include three main brand extensions. Ashworth Collection(TM) is a range of upscale sportswear designed to be worn on and off course. Ashworth Authentics(TM) showcases popular items from the Ashworth line. Ashworth Weather Systems&reg; utilizes technology to create a balance between fashion and function in a variety of climatic conditions. Callaway Golf is a trademark of Callaway Golf Company. Ashworth, Inc., 2765 Loker Avenue West, Carlsbad, CA 92010 is an Official Licensee of Callaway Golf Company. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>In July 2004, Ashworth, Inc. acquired Gekko Brands, LLC (&#147;Gekko&#148;), a leading designer, producer and distributor of headwear and apparel under The Game&reg; and Kudzu&reg; brands. This strategic acquisition provides opportunity for additional growth in three new, quality channels of distribution for the Ashworth&reg; and Callaway Golf apparel brands as well as further growth from The Game and Kudzu brands&#146; sales into the Company&#146;s three traditional distribution channels. The Game brand products are marketed primarily under other licenses to over 1,000 colleges and universities, as well as to the PGA TOUR, resorts, entertainment complexes and sporting goods dealers that serve the high school and college markets. The Game&reg; brand is one of the leading headwear brands in the College/Bookstore distribution channel. The Kudzu&reg; brand products are sold into the NASCAR/racing markets and
through outdoor sports distribution channels, including fishing and hunting. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>To learn more, please visit our Web site at </font><font color="#0000FF"><u><font size=2>www.ashworthinc.com</font></u></font><font size=2>. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>About The Knightspoint Group </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Knightspoint Partners LLC is an investment firm that takes active positions in undervalued public companies and, as necessary, pursues value-creating change. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Forward Looking Statements </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>This press release contains forward-looking statements related to the Company&#146;s market position, finances, operating results, marketing and business plans and strategies within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, changed circumstances or unanticipated events unless required by law. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the identification and evaluation of strategic alternatives, the actual or threatened proxy solicitation by third parties, timely development and acceptance of new
products, as well as strategic alliances, the integration of the Company&#146;s acquisition of Gekko Brands LLC, the impact of competitive products and pricing, the success of the Callaway Golf apparel product line, the preliminary nature of bookings information, the ongoing risk of excess or obsolete inventory, the potential inadequacy of booked reserves, the successful operation of the new distribution facility in Oceanside, CA, and other risks described in Ashworth, Inc.&#146;s SEC reports, including the annual report on Form 10-K for the year ended October 31, 2005, quarterly reports on Form 10-Q filed thereafter and amendments to any of the foregoing reports, including the Form 10-K/A for the year ended October 31, 2005. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Ashworth, Inc. will file a proxy statement in connection with its 2006 annual meeting of stockholders. Ashworth stockholders are strongly advised to read the proxy statement when it becomes available, as it will contain important information. Stockholders will be able to obtain this proxy statement, any amendments or supplements to the proxy statement and other documents filed by Ashworth with the Securities and Exchange Commission for free at the Internet website maintained by the Securities and Exchange Commission at </font><font color="#0000FF"><u><font size=2>www.sec.gov</font></u></font><font size=2>. Copies of the proxy statement and any amendments and supplements to the proxy statement will also be available for free at Ashworth&#146;s Internet website at www.ashworthinc.com or by writing to Ashworth, Inc., 2765 Loker Avenue West, Carlsbad, CA 92010. In addition, copies of the proxy materials may be
requested by contacting our proxy solicitor, MacKenzie Partners, Inc. at 800-322-2885 toll-free or by email at </font><font color="#0000FF"><u><font size=2>proxy@mackenziepartners.com</font></u></font><font size=2>. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Ashworth, its directors and certain of its executive officers are participants in a solicitation of proxies for Ashworth&#146;s 2006 annual meeting of stockholders. Information regarding these participants and their interests is contained in a filing under Rule 14a-12 filed by Ashworth with the Securities and Exchange Commission on March 31, 2006. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><i><font size=2>Contact:</font></i></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>For Ashworth:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Ashworth, Inc.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Randall L. Herrel, Sr., Chairman &amp; CEO</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Winston Hickman, CFO</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>760-438-6610</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>or</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>MacKenzie Partners, Inc.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Dan Burch/Amy Bilbija, 212-929-5500</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>or</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Joele Frank, Wilkinson Brimmer Katcher</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Matthew Sherman/Jamie Moser, 212-355-4449</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>or</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>For Knightspoint:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>David Meyer/Michael Koeneke, 212-786-6050</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>_____________________________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Source: Ashworth, Inc.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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