Item 5.02 - Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

Under the terms of the Employment Offer Letter dated July 23, 2007 which was issued to Mr. Robert Keller incident to becoming President and CEO of Escalade, Incorporated on August 1, 2007, the Company agreed to provide reimbursement of specific costs associated with Mr. Keller's relocation to Evansville, Indiana. As a result of adverse real estate market conditions beyond his control, Mr. Keller was unable to sell his existing residence in Atlanta, Georgia for the price originally envisioned at the time the Employment Offer Letter was issued. Based on the recommendation of the Compensation Committee, the independent members of the Board of Directors approved the payment of an additional $70,000 in relocation benefits to compensate Mr. Keller for a portion of the lost home equity based on the actual sales price of his Atlanta residence.