Item 2.03 - Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On September 30, 2009, Escalade, Incorporated ("Escalade") and each of its domestic subsidiaries (collectively with Escalade, the "Company") entered into a Second Amendment to Escalade's Credit Agreement with its issuing bank, JPMorgan Chase Bank, N.A. ("Chase"). Under the prior terms of the Credit Agreement, as amended, certain post-closing actions were anticipated to be completed on or before September 30, 2009. Escalade and Chase have agreed in the Second Amendment to extend such completion date until October 30, 2009. The Second Amendment also eliminates the requirement that the Company provide Phase II environmental reports on its owned real property and revises the commercial general liability insurance and all-risk property insurance coverage required to be maintained by the Company. All other terms of the Credit Agreement remain in effect and are unchanged. The entire text of the Second Amendment (without exhibits and schedules) dated as of September 30, 2009 to Credit Agreement is attached hereto as Exhibit 10.1.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits Exhibit Description 10.1 Second Amendment dated as of September 30, 2009 to Credit Agreement by and between Escalade, Incorporated and JPMorgan Chase Bank, N.A. (without exhibits and schedules, which Escalade has determined are not material)