<SUBMISSION>
<ACCESSION-NUMBER>0001299933-07-007062
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20070329
<ITEMS>8.01
<ITEMS>9.01
<FILING-DATE>20071207
<DATE-OF-FILING-DATE-CHANGE>20071207
<FILER>
<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>8-K
<ACT>34
<FILE-NUMBER>001-14547
<FILM-NUMBER>071293517
</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>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_24273.htm
<DESCRIPTION>LIVE FILING
<TEXT>
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<TITLE> Ashworth, Inc. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	March 29, 2007
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	Ashworth, Inc.
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Delaware
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	001-14547
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	84-1052000
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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______________<BR>
	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	2765 Loker Avenue West, Carlsbad, California
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	92010
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_________________________________<BR>
	(Address of principal executive offices)
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___________<BR>
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	Registrant&#146;s telephone number, including area code:
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	760-438-6610
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
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<P><FONT SIZE="2">
[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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<B>
	Item 8.01 Other Events.
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On March 29, 2007, Ashworth, Inc. (the "Company") and Callaway Golf Company ("Callaway") entered into a second amendment to the license agreement between the Company and Callaway, dated May 14, 2001 (the "License Agreement"), under which the Company designs, produces and markets golf-related apparel bearing Callaway trademarks.  Among other things, the second amendment to the License Agreement clarified the relationship of the parties in certain respects, updated the licensed trademarks to reflect Callaway&#x2019;s current product lineup and changed the territories in which the Company may market products under the License Agreement.  <br><br>The foregoing description of the second amendment to the License Agreement is qualified in its entirety by the terms of such amendment, which is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.<br><br>On December 3, 2007, the Company and Callaway entered into a third amendment to the License Agreement.  Among other things, the third amendment created a new mid-price retail channel, with new trademarks for use in that channel, and changed the royalty payments owed to Callaway to a flat percentage of net sales of products sold under the License Agreement.  Under the third amendment, the Company will pay royalties at two separate rates, one for the mid-price channel and another for all other sales channels.  The flat royalty rates replaced the tiered royalty rates formerly paid by the Company.  <br><br>The foregoing description of the third amendment to the License Agreement is qualified in its entirety by the terms of such amendment, which is filed as Exhibit 99.2 to this Form 8-K and is incorporated herein by reference<br>
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	Item 9.01 Financial Statements and Exhibits.
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(d)	Exhibits:<br>The following exhibits are furnished with this Current Report on Form 8-K:<br><br>Exhibit No.		Description of Exhibit<br><br>99.1*	Second Amendment to License Agreement, effective March 29, 2007, by and between Ashworth, Inc. and Callaway Golf Company.<br><br>99.2*	Third Amendment to License Agreement, effective December 3, 2007, by and between Ashworth, Inc. and Callaway Golf Company.<br><br>* Certain portions of this exhibit have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission.<br>
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	Ashworth, Inc.
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	December 7, 2007
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	By:
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	/s/ Greg W. Slack
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	Name: Greg W. Slack
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	Title: Chief Financial Officer and Principal Accounting Officer
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	Exhibit&nbsp;Index
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	Exhibit No.
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	Description
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	99.1
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<FONT SIZE="2">
Second Amendment to License Agreement, effective March 29, 2007, by and between Ashworth, Inc. and Callaway Golf Company. Certain portions of this exhibit have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission
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	99.2
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	&nbsp;
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Third Amendment to License Agreement, effective December 3, 2007, by and between Ashworth, Inc. and Callaway Golf Company.  Certain portions of this exhibit have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission.
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<TYPE>EX-99.1
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>Exhibit&nbsp;99.1</B></FONT>



<P align="left" style="font-size: 12pt"><B>Certain confidential information has been omitted from this Exhibit&nbsp;99.1 pursuant to a request for
confidential treatment filed separately with the Securities and Exchange Commission. The omitted
information is indicated by the symbol &#147;&#091;**&#093;&#148; at each place in this Exhibit&nbsp;99.1 where the omitted
information appeared in the original.</B>


<P align="center" style="font-size: 12pt"><B>AMENDMENT 2 TO LICENSE AGREEMENT</B>



<P align="left" style="font-size: 12pt; text-indent: 4%">This Amendment 2 to License Agreement (&#147;Amendment 2&#148;) effective as of the date of the last
signature (the &#147;Amendment Effective Date&#148;), modifies that certain License Agreement between
Callaway Golf Company (&#147;Callaway Golf&#148;) and Ashworth, Inc. (&#147;Ashworth&#148;) dated May&nbsp;14, 2001 (the
&#147;Agreement&#148;), which was subsequently modified by Amendment to License Agreement dated December&nbsp;16,
2003 (&#147;Amendment 1&#148;). The Agreement and Amendment 1 are collectively referred to herein as the
&#147;Original Agreement&#148;.


<P align="left" style="font-size: 12pt; text-indent: 4%">The parties now wish to modify the Original Agreement in certain respects as set forth below.


<P align="left" style="font-size: 12pt; text-indent: 4%">For good and valuable consideration, receipt of which is hereby acknowledged, the parties
agree as follows:


<P align="left" style="font-size: 12pt; text-indent: 4%">1.&nbsp;<U>Trademarks</U>. Exhibit&nbsp;A of the Original Agreement is hereby superseded and replaced
in its entirety with the attached Exhibit&nbsp;A.


<P align="left" style="font-size: 12pt; text-indent: 4%">2.&nbsp;<U>Territory</U>. Exhibit&nbsp;B of the Original Agreement is hereby superseded and replaced
in its entirety with the attached Exhibit&nbsp;B.


<P align="left" style="font-size: 12pt; text-indent: 4%">3.&nbsp;<U>Licensed Products</U>.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibit&nbsp;C-1 of the Original Agreement is hereby amended to remove from the list
of Exclusive Licensed Products the following item:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:12%; font-size: 12pt">Socks


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibit&nbsp;C-2 of the Original Agreement is hereby amended to remove from the list
of Non-Exclusive Licensed Products the following items:</TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="46%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Picture frames<BR>
Sleepwear<BR>
Towels&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>
Umbrellas<BR>
Valuables pouch&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Ashworth shall develop and market a line of belts, including fixtures, by the
Fall/Holiday 2008 season.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 12pt; text-indent: 4%">4.&nbsp;<U>Net Sales Target Amounts</U>. Exhibit&nbsp;J-1 is hereby amended to change the annual Net
Sales Target Amounts for years 2007 through 2010 to $&#091;**&#093;.


<P align="left" style="font-size: 12pt; text-indent: 4%">5.&nbsp;<U>Website</U>. Section 1(m) of the Original Agreement is hereby superseded and replaced
in its entirety as follows:



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">&#147;m. Ashworth shall establish and maintain on its primary website located at
http://www.ashworthinc.com (or any replacement or successor site) a section titled &#147;Callaway
Golf Apparel&#148;, or such other title as Callaway Golf approves, which approval shall not be
unreasonably withheld, delayed or conditioned. The contents of such website section must be
approved in advance in writing by Callaway Golf, which approval shall not be unreasonably
withheld, delayed or conditioned. In such website section, Ashworth shall provide at least
one direct link to such pages of Callaway Golf&#146;s website located at
http://www.callawaygolf.com (or any replacement or successor site) as may be requested by
Callaway Golf from time to time. Ashworth shall use commercially reasonably efforts to
ensure its website Is in good working order and available to the public twenty-four (24)
hours per day, seven (7)&nbsp;days per week during the term of this Agreement. Ashworth shall
update its website by the first delivery of each season to reflect the Licensed Products for
that season. Ashworth shall maintain such website, so that all branding is consistent with
the annual Callaway Golf Style Guide. In addition, Ashworth hereby consents to Callaway
Golf providing a link(s) on its website linking directly to the Callaway Golf section of
Ashworth&#146;s website.&#148;


<P align="left" style="font-size: 12pt; text-indent: 4%">6.&nbsp;<U>Sales Representatives</U>. Section 2(d) of the Original Agreement is hereby superseded
and replaced in its entirety as follows:



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">&#147;d. Ashworth shall use commercially reasonable efforts to increase its golf channel
sales force annually. By the end of each year, the number of golf channel sales
representatives shall be as follows:

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="22%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="36%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="36%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">No. of Sales Reps
</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2007
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">29</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2008
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">31</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">32</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">33</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 8%">Sales representatives may be either (i)&nbsp;full-time employees of Ashworth who act as
exclusive sales representatives and whose sole duties are those relating directly to
selling, marketing, promoting, advertising and distributing the Licensed Products bearing
the Trademarks pursuant to this Agreement, or (ii)&nbsp;independent sales representatives who are
not employees of Ashworth; <U>provided</U>, <U>however, </U>that if Ashworth utilizes
independent sales representatives for sale of the Licensed Products, the independent sales
representatives must not concurrently promote golf balls, golf clubs, golf bags or competing
products.&#148;


<P align="left" style="font-size: 12pt; text-indent: 4%">7.&nbsp;<U>Callaway Golf Sales</U>. Section 2(g) of the Original Agreement is hereby superseded
and replaced in its entirety as follows:



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">&#147;g. Ashworth shall sell Licensed Products to Callaway Golf at &#091;**&#093; percent (&#091;**&#093;%) off
the U.S. wholesale price. Sales of Licensed Products to Callaway Golf shall be subject to
royalties in accordance with Section&nbsp;3 of the Original Agreement, however, Licensee shall
not apply the royalties on sales to Callaway Golf toward Licensee&#146;s Minimum Annual Royalties
requirement.&#148;


<P align="center" style="font-size: 12pt">2



<P align="left" style="font-size: 12pt; text-indent: 4%">8.&nbsp;<U>Advertising and Promotion</U>. Section 2(j) of the Original Agreement and Paragraphs
3(a) and 3(b) of the Amendment 1 are hereby superseded and replaced in its entirety as follows:



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">&#147;j. Ashworth shall spend, at a minimum, the amounts set forth in Exhibit&nbsp;E attached
hereto and incorporated herein, on advertising and promotion of the Licensed Products. The
required expenditures listed on Exhibit&nbsp;E are measured as a percentage of Net Sales (as
defined in Exhibit&nbsp;F-1). To the extent Net Sales are not calculated until after a
particular calendar year has closed and/or actual Net Sales exceed Ashworth&#146;s targeted Net
Sales for a given year, any additional required expenditures shall be added to Ashworth&#146;s
required expenditures for the following calendar year, but shall be incurred within 150&nbsp;days
of the new calendar year. Such expenditures are limited to those directly related to
advertising and promotion of the Licensed Products and do not include sales representatives&#146;
travel expenses or other business-related expenses. No amount of Ashworth&#146;s general or
administrative charges or overhead shall be included as part of the required expenditures.
Approved advertising expenditures include amounts paid to a third party associated with any
of the following: (i)&nbsp;print, television, radio, Internet and other media advertisements;
(ii)&nbsp;advertising agency fees and co-op fees specific to the Callaway Golf brand; (iii)
advertising translation expenses; (iv)&nbsp;photography and video expenses; (v)&nbsp;and such other
items as may be approved by Callaway Golf in writing. Approved promotional expenditures
include amounts paid to a third party associated with any of the following: (i)&nbsp;catalogs,
brochures, literature, films and tapes; (ii)&nbsp;display stands, swatches, merchandise aids and
accessories; (iii)&nbsp;customer incentives; (iv)&nbsp;promotion, press and public relations; (v)
endorsements and expenses directly related to participation in professional endorsement
opportunities requested by Callaway Golf; (vi)&nbsp;trade shows, exhibitions and sales meetings;
and (vii)&nbsp;other expenses directly related to marketing the Licensed Products or approved by
Callaway Golf in writing.



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">As part of its required expenditures, Ashworth shall spend at least $&#091;**&#093; wholesale
(including embroidery) each calendar year on free Licensed Products for use by Callaway Golf
Pro Tour and Master Staff players. Callaway Golf shall advise Ashworth each year as to how
the funds will be divided between Pro Tour and Master Staff.



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">Each quarter Ashworth shall submit to Callaway Golf a report itemizing, in detail,
expenses incurred in the advertising and promotion of the Licensed Products. The report
shall be submitted within sixty (60)&nbsp;days after the calendar quarters ending March&nbsp;31, June
30, September&nbsp;30 and December&nbsp;31. Failure of Ashworth to spend the required advertising and
promotion amounts shall constitute a material breach of this Agreement allowing Callaway
Golf to terminate this Agreement pursuant to Section&nbsp;9(c), if the shortfall is not spent in
the first 150&nbsp;days of the new calendar year immediately following the year in which
insufficient advertising and promotion amounts were spent. Notwithstanding the foregoing in
this Section&nbsp;2(j), the required expenditures that are carried over from a previous calendar
year into the first 150&nbsp;days of the subsequent calendar year shall be spent only on the
following: (i)&nbsp;printed, television, radio, Internet and direct mail advertising; and (ii)
fixtures, point of purchase materials and freight for point of purchase materials.&#148;


<P align="center" style="font-size: 12pt">3



<P align="left" style="font-size: 12pt; text-indent: 4%">9.&nbsp;<U>Design Approval and Direction</U>. Section 4(b) of the Original Agreement is hereby
superseded and replaced in its entirety as follows:



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">&#147;b. Ashworth shall be responsible for the design and sourcing of the Licensed
Products. Standards adopted by Ashworth for the Licensed Products shall be no less
stringent than the standards utilized by Ashworth for other apparel products that are sold
by Ashworth. Ashworth shall distinguish the Licensed Products from the Ashworth apparel
line and other apparel products sold by Ashworth by using different fabrication and trim for
the Licensed Products. Notwithstanding the foregoing, Ashworth may use the same source base
and fabrications for &#147;basic&#148; styles (e.g., basic pique fabrics). Ashworth shall set up a
design studio for Callaway Golf separate and apart from the design studio for Ashworth.
Ashworth shall from time to time solicit logo requirements and concepts from Callaway Golf.
Callaway Golf shall collaborate with Ashworth, at Ashworth&#146;s reasonable request, with regard
to fabric, color, model and style of the Licensed Products. Ashworth shall keep Callaway
Golf reasonably informed of the Licensed Products&#146; design activities and shall invite
Callaway Golf to participate in the following forma seasonal product development meetings:
1) initial concept and line direction meeting; 2) design review meeting; and 3) final
adoption meeting. Ashworth shall also collaborate with Callaway Golf by inviting Callaway
Golf to participate in other meetings as appropriate and/or as reasonably requested by
Callaway Golf from time to time.&#148;


<P align="center" style="font-size: 12pt">&#091;REMAINDER OF PAGE INTENTIONALLY LEFT BLANK&#093;



<P align="center" style="font-size: 12pt">4



<P align="left" style="font-size: 12pt">10.&nbsp;All other terms and conditions in the Original Agreement that have not been changed or
otherwise modified by this Amendment 2 shall remain unchanged and shall continue in full force and
effect. All capitalized terms used in this Amendment 2, which are not otherwise defined herein,
shall have the same meanings ascribed to them in the Original Agreement.


<P align="left" style="font-size: 12pt">IN WITNESS WHEREOF, the parties have caused this Amendment 2 to be executed as of the Amendment
Effective Date.

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="46%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">ASHWORTH, INC.<BR>
By:/s/ PETER M. WEIL<BR>
Name: Peter M. Weil<BR>
Title: <I>Chief Executive Officer</I><BR>
Date Signed:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CALLAWAY GOLF COMPANY<BR>
By:/s/ STEVEN C. MCCRACKEN<BR>
Steven C. McCracken<BR>
<I>Senior Executive Vice President and<BR>
Chief Administrative Officer</I><BR>
Date Signed: 03/29/07</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 12pt">5





<P align="center" style="font-size: 10pt; display: none">1
<!-- PAGEBREAK -->




<P align="center" style="font-size: 12pt"><U><B>EXHIBIT A</B></U>



<P align="center" style="font-size: 12pt"><U><B>TRADEMARKS &#150; FONT INDEPENDENT </B></U>



<P align="left" style="font-size: 12pt"><U><B>PRIMARY MARKS</B></U>



<P align="left" style="margin-left:4%; font-size: 12pt">Big Bertha
<BR>
Callaway Golf


<P align="left" style="font-size: 12pt"><U><B>SECONDARY MARKS</B></U>

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="63%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Callaway Golf Collection<BR>
Callaway Golf DrySport<BR>
Callaway Golf X Series<BR>
DrySport
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">RainSport<BR>
Tour Authentic<BR>
WarmSport<BR>
WindSport</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="margin-left:4%; font-size: 12pt">Demonstrably Superior and Pleasingly Different


<P align="center" style="font-size: 12pt"><U><B>TRADEMARKS &#151; FONT SPECIFIC </B></U>



<P align="left" style="font-size: 12pt"><U><B>SECONDARY MARKS</B></U>



<P align="left" style="margin-left:4%; font-size: 12pt">Big Bertha and Design



<P align="left" style="margin-left:4%; font-size: 12pt">Black and Blue Tag (without Callaway Golf logo)



<P align="left" style="margin-left:4%; font-size: 12pt">Callaway Collection



<P align="left" style="margin-left:4%; font-size: 12pt">Callaway Design with Chevron



<P align="left" style="margin-left:4%; font-size: 12pt">Callaway Golf and Design



<P align="left" style="margin-left:4%; font-size: 12pt">Callaway Golf Center Medallion and Design



<P align="left" style="margin-left:4%; font-size: 12pt">Gray and Taupe Sport Tag (without Callaway Golf logo)



<P align="left" style="margin-left:4%; font-size: 12pt">Odyssey and Design



<P align="left" style="margin-left:4%; font-size: 12pt">White Hot and Design


<P align="center" style="font-size: 12pt">6





<P align="center" style="font-size: 10pt; display: none">2
<!-- PAGEBREAK -->




<P align="center" style="font-size: 12pt"><U><B>EXHIBIT B</B></U>



<P align="center" style="font-size: 12pt"><U><B>TERRITORY</B></U>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>United States of America</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Canada</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Europe</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 12pt"><I>Europe shall be defined as:</I>

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Andorra<BR>
Austria<BR>
Belgium<BR>
Cyprus<BR>
Czech Republic<BR>
Denmark<BR>
Estonia<BR>
Finland<BR>
France<BR>
Germany<BR>
Greece<BR>
Hungary<BR>
Iceland<BR>
Ireland<BR>
Italy<BR>
Latvia
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>
Liechtenstein<BR>
Lithuania<BR>
Luxembourg<BR>
Malta<BR>
Netherlands<BR>
Norway<BR>
Poland<BR>
Portugal<BR>
Slovakia<BR>
Slovenia<BR>
Spain<BR>
Sweden<BR>
Switzerland<BR>
Turkey<BR>
United Kingdom</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Africa</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Russian Federation</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Dubai</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Guam</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Puerto Rico</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Saipan</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>United Arab Emirates</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 12pt"><FONT style="font-size: 8pt">100350526_1.DOC
</FONT>

<P align="center" style="font-size: 8pt"><FONT style="font-size: 12pt">7</FONT>




<P align="center" style="font-size: 10pt; display: none">3


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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit2.htm
<DESCRIPTION>EX-99.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<TITLE> EX-99.2 </TITLE>
</HEAD>
<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">

<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>Exhibit&nbsp;99.2</B></FONT>



<P align="left" style="font-size: 12pt"><B>Certain confidential information has been omitted from this Exhibit&nbsp;99.2 pursuant to a request for
confidential treatment filed separately with the Securities and Exchange Commission. The omitted
information is indicated by the symbol &#147;&#091;**&#093;&#148; at each place in this Exhibit&nbsp;99.2 where the omitted
information appeared in the original.</B>


<P align="center" style="font-size: 12pt"><B>AMENDMENT 3 TO LICENSE AGREEMENT</B>



<P align="left" style="font-size: 12pt; text-indent: 4%">This Amendment 3 to License Agreement (this &#147;Amendment 3&#148;), effective as of the date of the
last signature (the &#147;Amendment Effective Date&#148;), modifies that certain License Agreement between
Callaway Golf Company (&#147;Callaway Golf&#148;) and Ashworth, Inc. (&#147;Ashworth&#148;), dated May&nbsp;14, 2001 (the
&#147;Agreement&#148;), which was subsequently modified by Amendments to License Agreement dated December&nbsp;16,
2003 (&#147;Amendment 1&#148;) and March&nbsp;29, 2007 (&#147;Amendment 2&#148;). The Agreement, as amended by Amendment 1
and Amendment 2, is referred to herein as the &#147;Original Agreement&#148;.


<P align="left" style="font-size: 12pt; text-indent: 4%">The parties now wish to amend and modify the Original Agreement in certain respects and make
such other provisions as are set forth below.


<P align="left" style="font-size: 12pt; text-indent: 4%">For good and valuable consideration, receipt of which is hereby acknowledged, the parties
agree as follows:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Trademarks</U>. Exhibit&nbsp;A to the Original Agreement is supplemented by the
addition of the following under the existing caption &#147;TRADEMARKS&#151;FONT INDEPENDENT&#148; and a
new sub-caption &#147;SUB-BRAND MARKS&#148;:</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 12pt">&#147;Tour Edition&#148;



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Grant of Trademark License</U>.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibit&nbsp;D-2 to the Original Agreement is hereby amended to delete &#091;**&#093;.</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:6%; font-size: 12pt">b. Section&nbsp;1.o. of the Original Agreement is hereby amended and supplemented by the
addition of the following after the last sentence thereofNotwithstanding the
foregoing, Ashworth may sell to &#091;**&#093; (the &#147;Mid-Price Channel&#148;) Licensed Products bearing
Trademarks listed under the sub-caption SUB-BRAND MARKS on Exhibit&nbsp;A, which Trademarks
may be used in combination with any other Trademark on such Licensed Products and in any
Marketing Materials (as defined in Section&nbsp;7.a. of the Original Agreement) for such
Licensed Products. The development of Licensed Products for sale to the Mid-Price
Channel will be subject to the provisions of Section&nbsp;4 of the Original Agreement, and
all Marketing Materials for such Licensed Products (including those used by any
retailers in the Mid-Price Channel) will be subject to the provisions of Section&nbsp;7 of
the Original Agreement. The parties shall also discuss and work together in good faith
to add additional companies to the definition of Mid-Price Channel on terms and with
programs consistent with those for sales at &#091;**&#093;. Further, the Mid-Price Channel and
all discount department stores shall be deemed Authorized Distribution Channels for
purposes of this Agreement; <U>provided</U>, <U>however</U>, that Ashworth shall not
sell Licensed Products to any retailer other than Premium Department Stores and the
Mid-Price Channel without the prior written consent of Callaway Golf in each instance,
which consent may be withheld for any reason (or no reason) in Callaway Golf&#146;s sole
discretion.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Royalties</U>.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;3.a. of the Original Agreement is hereby amended and restated
as follows:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:6%; font-size: 12pt">Ashworth shall pay, in U.S. Dollars, royalties to Callaway Golf for all Net Sales (as
defined in Exhibit&nbsp;F-1) of Licensed Products (including sales of the Authorized
Sublicensed Products by any Ashworth sublicensee) that occur during each calendar
quarter this Agreement is in effect (including any Sell-Off Period (as hereinafter
defined) and Non-Exclusive Product Sell-Off Period) in the amounts further described on
Exhibit&nbsp;F-1 hereto; <U>provided</U>, <U>however</U>, that (i)&nbsp;the parties acknowledge
and confirm that the reduced royalty rate for Closeout Net Sales as set forth in
Amendment&nbsp;1 shall continue in effect, (ii)&nbsp;Ashworth shall pay, in U.S. Dollars, a flat
&#091;**&#093; percent (&#091;**&#093;%) royalty for all Net Sales (as defined in Exhibit&nbsp;F-1) of Licensed
Products made through the Mid-Price Channel, and (iii)&nbsp;the royalty rate for Net Sales
(other than Net Sales for Closeout sales or made through the Mid-Price Channel)
occurring after the Amendment Effective Date shall be &#091;**&#093; percent (&#091;**&#093;%). For
purposes of clarity, the tiered rate structure described on Exhibit&nbsp;F-1 will not apply
to Net Sales occurring after the Amendment Effective Date.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;3.b.(i) of the Original Agreement is hereby amended and
restated as follows:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:6%; font-size: 12pt">With respect to sales of the Licensed Products, from the Effective Date until this
Agreement is terminated, Ashworth shall pay the difference between the minimum annual
royalties (the &#147;Minimum Annual Royalties&#148;) set forth on Exhibit&nbsp;F-2 hereto and the
actual royalties paid for a given year pursuant to Exhibit&nbsp;F-1 hereto, if any, with the
royalty payment for the fourth quarter of the relevant calendar year, <U>provided</U>,
<U>however</U>, that royalties paid on sales made through the Mid-Price Channel will
not apply toward the Minimum Annual Royalties;


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Assignability</U>. Section&nbsp;15 of the Original Agreement is hereby amended and
supplemented by the addition of the following after the last sentence thereof:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:6%; font-size: 12pt">Notwithstanding any contrary provision of this Agreement, any lender to Ashworth or any
of its subsidiaries or permitted successors or assigns (or an agent for one or more of
such lenders) that takes possession of any inventory that is subject to the terms of
this Agreement (whether by foreclosure or otherwise) may sell, transfer or otherwise
dispose of such inventory in any manner that Ashworth would be permitted to sell,
transfer or otherwise dispose of such inventory under this Agreement.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>No Other Changes; Definitions</U>. All terms and conditions in the Original
Agreement that have not been changed or otherwise modified by this Amendment 3 shall remain
unchanged and shall continue in full force and effect. All capitalized terms used in this
Amendment 3 that are not otherwise defined herein have the meanings ascribed to them in the
Original Agreement.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt; display: none; text-indent: 4%">1
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<P align="left" style="font-size: 12pt">In witness whereof, the parties hereto have caused this Amendment 3 to be executed as
of the Amendment Effective Date.

<DIV align="center">
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<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="53%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">ASHWORTH, INC.<BR>
By:/s/ ALLAN H. FLETCHER<BR>
Name: Allan H. Fletcher<BR>
Title: Chief Executive Officer<BR>
Date Signed: November&nbsp;28, 2007
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CALLAWAY GOLF COMPANY<BR>
By:/s/ STEVEN C. MCCRACKEN<BR>
Name: Steven C. McCracken<BR>
Title: Senior Executive Vice President and<BR>
Chief Administrative Officer<BR>
Date Signed: December&nbsp;3, 2007</TD>
</TR>
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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt; display: none">2


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