Endorsement Agreement

• Expiration Date: 31 December 1998
• Date: 01 January 1996
• Parties: Teardrop Putter Corporation ("TPC"), Consolidated Artists Inc. ("Consolidated Artists")
• Section: Commercial Contracts

EXHIBIT 10.12

ENDORSEMENT AGREEMENT

This Endorsement Agreement is made and entered into this first (1st)

day of January, 1996, by and between Teardrop Putter Corporation having its

principal office at 207 WatersEdge, Shelter Cove, Hilton Head Island, South

Carolina 29928 (hereinafter referred to as "TPC"), and Consolidated Artists

Inc., Sommerville House, Phillips Street, St. Helier, Jersey JE1 1DE, Channel

Islands, British Isles (hereinafter referred to as "Consolidated Artists").

WITNESSETH:

WHEREAS, Brett Ogle (hereinafter referred to as "Ogle") is recognized

and widely known throughout the world as an expert golfer; and

WHEREAS, Ogle's name, by virtue of his ability and extensive experience, has

acquired a secondary meaning in the mind of the purchasing public important to

the advertisement, promotion and sale of golf putters; and

WHEREAS, TPC is engaged in the manufacture, distribution and sale of golf

putters, and is desirous of acquiring the exclusive right to utilize Ogle's name

in connection with the advertisement, promotion and sale of the Teardrop Putter;

and

WHEREAS, Consolidated Artists holds all rights to and in Ogle's name and

endorsement for purposes of this Agreement; and

WHEREAS, Consolidated Artists being exclusively entitled to such rights

within the Contract Territory (as hereinafter defined)

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has agreed to authorize such use upon the terms and conditions hereinafter

contained;

NOW, THEREFORE, for and in consideration of the premises and mutual

covenants herein set forth and for other good and valuable consideration, it is

agreed as follows:

1. DEFINITIONS: As used herein, the terms set forth below shall be

defined as follows:

(a) "Ogle Endorsement" shall mean the name, likeness, photograph, and

endorsement of Ogle.

(b) "Endorsed Product" shall mean a putter manufactured, distributed,

promoted, advertised and sold by TPC bearing the "Teardrop

Putter" name and/or logo.

(c) "Contract Territory" shall mean the entire world.

(d) "Contract Period" shall mean that period of time commencing

January 1, 1996, and concluding December 31, 1998, unless sooner

terminated in accordance with the terms and conditions hereof.

(e) "Contract Year" shall mean that twelve (12)month period of time

commencing each first (1st) day of January throughout the

Contract Period.

(f) "Major Tournament" shall mean any of the following tournaments:

the Masters, the U.S. Open, the British Open and the PGA

Championship.

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(g) "PGA Tour Tournament" shall mean PGA Tour tournaments, excluding

the Major Tournaments.

(h) "International Tournament" shall mean European PGA Tour

tournaments (excluding the British Open),Japan PGA Tour

tournaments and Australian PGA Tour tournaments.

2. OGLE TO USE ENDORSED PRODUCT. Consolidated Artists agrees to cause

Ogle to use the Endorsed Product during the Contract Period and throughout the

Contract Territory whenever he is playing competitive golf or otherwise

participating in golf clinics and outings.

3. GRANT OF ENDORSEMENT RIGHTS. Subject to the terms and conditions set

forth herein, Consolidated Artists grants to TPC the exclusive right and

license, within the Contract Territory and during the Contract Period, to use

the Ogle Endorsement in connection with the manufacture, distribution,

advertisement, promotion and sale of the Endorsed Product.