UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 8-K

 

 

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report

 

 

(Date of Earliest Event Reported):

 

Commission File Number:

March 29, 2008

 

0-51715

 

 

SPORT-HALEY, INC.

(Exact name of Registrant as specified in its charter)

 

Colorado

 

84-1111669

(State of incorporation)

 

(I.R.S. Employer

 

 

Identification Number)

 

4600 E. 48th Avenue

Denver, Colorado 80216

303/320-8800

(Address of principal executive

offices and telephone number)

 

 

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:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

Item 1.01 Entry into a Material Definitive Agreement.

 

On March 29, 2008, Sport-Haley, Inc. (the “Company”) entered into a letter agreement, dated March 27, 2008, with Callaway Golf Company (“Callaway”) to amend the License Agreement between the parties.  The letter agreement removes the Top-Flite® brand from the Company’s License Agreement with Callaway, as amended, effective January 1, 2008.  Further, in the letter agreement Callaway extinguished and forgave any minimum annual royalties which were due from the Company as of December 31, 2007.  A copy of the letter agreement is attached as Exhibit 10.1 and incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d)           Exhibits.

 

Exhibit 10.1 - Letter agreement between Sport-Haley, Inc. and Callaway Golf Company dated March 27, 2008

 

SIGNATURES

 

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.

 

 

 

SPORT-HALEY, INC.

 

 

 

 

 

 

 

 

Date: April 2, 2008

 

By:

  /s/ Patrick W. Hurley

 

 

Patrick W. Hurley, Chief Financial Officer

 

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