On January 25, 2013, Skullcandy, Inc. (the "Company") and AG Acquisition Corporation (together with the Company, the "Borrowers") entered into an Third Amendment to Revolving Credit and Security Agreement (the "Amendment"), with the financial institutions thereto (the "Lenders"), UPS Capital Corporation, as foreign collateral agent for the Lenders and PNC Bank, National Association, as administrative agent for the Lenders. The Amendment amended that certain Revolving Credit and Security Agreement, dated August 31, 2010, as amended on October 25, 2011, by that certain First Amendment and Waiver to Revolving Credit and Security Agreement, as further amended by that certain Amendment to Revolving Credit and Security Agreement, dated March 6, 2012, between the parties thereto. The Amendment allows for the Company to buy back up to $28.0 million of its outstanding common stock.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, filed as Exhibit 10.1 hereto and incorporated herein by reference.

The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.

Item 9.01 Exhibits.


(d) Exhibits



10.1    Third Amendment to Revolving Credit and Security Agreement, dated January
        25, 2013, by and among Skullcandy, Inc., AG Acquisition Corporation, the
        financial institutions thereto, UPS Capital Corporation and PNC Bank,
        Nation Association