0001193125-07-010108 Sample Contracts

Callaway Golf Company Recipient: Employee/Consultant Effective Grant Date: Stock Unit Grant Number of Stock Units/Equivalent Shares: Plan: 2004 Equity Incentive Plan
Callaway Golf Co /Ca • January 22nd, 2007 • Sporting & athletic goods, nec • Delaware

CALLAWAY GOLF COMPANY, a Delaware corporation (the “Company”), has elected to grant to you, the Recipient named above, a Stock Unit award subject to the restrictions and on the terms and conditions set forth below, in consideration for your services to the Company. Terms not otherwise defined in this Stock Unit Grant Agreement (“Agreement”) will have the meanings ascribed to them in the Plan identified above (the “Plan”).

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Callaway Golf Company Recipient: Performance Unit Grant Effective Grant Date: Number of Performance Units: Plan: 2004 Equity Incentive Plan
Callaway Golf Co /Ca • January 22nd, 2007 • Sporting & athletic goods, nec • Delaware

CALLAWAY GOLF COMPANY, a Delaware corporation (the “Company”), has elected to grant to you, the Recipient named above, a Performance Unit award subject to the restrictions and on the terms and conditions set forth below, in consideration for your services to the Company. Terms not otherwise defined in this Performance Unit Grant Agreement (“Agreement”) will have the meanings ascribed to them in the Plan identified above (the “Plan”).

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