For Immediate Release
Contact: Jeff Yeh
Email: karakal@yocaher.com
626-369-3900
Feeltecgrip Inc. agrees with Karakal Golf Grips
SETTLEMENT AGREEMENT
This settlement agreement is made on December 8, 2006, between Feeltecgrip Inc., located at 139-15, Sec 2, Jhongshan Rd., Dacun Township, Changhua County, Taiwan R.O.C., (hereinafter referred to as Feeltecgrip), and Karakal Far East Ltd., located at No. 168-6, Hai Pin Rd., Ching Shui, Taichung Hsien, Taiwan R.O.C., (hereinafter referred to as Karakal)
Whereas Karakal has alleged that Feeltecgrip's comparison sheets which have been attached to the products of Feeltecgrip violate the fair trade laws of various jurisdictions, and principles of unfair competition and related regulations and have caused damages to Karakal.
Whereas Feeltecgrip and Karakal desire to settle their dispute and hereby agree to the following conditions:
1. The two parties agree to post the contents of this Settlement Agreement (in both Chinese and English, without the appendix) on each of their respective websites for a period of seven (7) months commencing he 15th day of December, 2006.
2. Feeltecgrip undertakes that it shall never again issue the same or similar comparative advertisements directed at Karakal, as those contained in the appendix.
3. Subject to Feeltecgrip's compliance with this agreement, Karakal agrees that it will release any claims that it may have with respect to Feeltecgrip's prior publication of the comparative advertisements listed in the appendix.
4. If Feeltecgrip fails to comply with the requirements of Paragraph 1 above, or violates the terms of paragraph 2, Feeltecgrip shall pay to Karakal the amount of NT$ 5,000,000 as penalty and indemnify Karakal for the loss, damages, costs or expenses incurred hereof.
5. If any disputes arise between the parties, the parties agree that the agreement and related disputes shall be governed by the Taichung District Court.
6. The Settlement Agreement shall be executed simultaneously in two counterparts, each of which shall be deemed an original.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by duly authorized representatives of both parties on the day and year first above written.
Feeltecgrip Inc. Karakal Far East Ltd.
August 7, 2006
KARAKAL GOLF GRIPS, WINN INC. SETTLE DISPUTE
Newark, Ohio - As you may be aware, over the course of the last six years Karakal has been involved in three law suits with Winn, Inc. Those law suits have involved both claims by Karakal that Winn was engaged in practices of unfair competition and/or that Winn's patents are invalid, and claims by Winn that certain of Karakal's golf grips infringed Winn's patents. We are happy to announce that as of August 1, 2006, the last of those legal proceedings will be fully resolved through settlement and a consent judgment.
After years of litigation, both parties agreed to forego their respective claims for money damages. In return for Karakal agreeing to redesign its X-Tack, X-Tack II, X-JP, and X-JP II golf grips and not challenge the validity of Winn's patents, Winn agreed not to challenge
the redesigned grips. The agreed upon consent judgment did not contain any finding that Karakal's old X-Tack, X-Tack II, X-JP, and X-JP II wrapped golf grips infringed any of Winn's intellectual property rights.
With the conclusion of this lawsuit, all of Karakal's golf grips are free and clear of any claims of infringement. Like the old X-Tack grips, Karakal's new X-Tack, X-Tack II, X-JP, and X-JP II grips are of a combined polyurethane/textile construction. They maintain the same great feel and durability as did Karakal's old grips, but with slightly more shock absorbency. They do so by adding additional polyurethane to the inner side of the grip.
We also urge you to try out Karakal's X-JP Wrapless line of golf grips which Karakal introduced in the fall of 2005. The improved panel grip has turned out to be a great success for Karakal. The improved design allows Karakal to offer its customers significantly more color and aesthetic design options, while at the same time maintaining the great feel and shock absorbing characteristics customers have come to appreciate with all of Karakal's polyurethane golf grips.
As always, Karakal stands behind the quality and integrity of its grips. Should you have any questions, please do not hesitate to contact us at 740.366.8142
January 3, 2005
KARAKAL GOLF GRIPS INTRODUCES NEW XJP GRIP
Newark, Ohio - Karakal Golf Grips has recently developed the all new XJP two tone
v-wrapless putter grip. The synthetic material is wrapped around the underlisting and
then stitched up the back. The XJP material is soft and comfortable and the flat top shape
is what golfers are looking for.
The new XJP putter grip is available in Black/Red, Black/Tan, Black/Blue and Black/Yellow.
Jack Wang, President of Karakal said "We¹ve expanded our v-wrapless grips into the two tone XJP putter. These grips not only are attractive when installed, but the feel is excellent for immediate feedback to the golfer during the putting stroke."
ve Gilligan, National Sales Manager for Karakal said "With the addition of the new XJP two tone model this gives us a two tone v-wrapless to go along with the solid colors in wrap and v-wrapless already offered. We feel we offer the widest selection of any golf grip company "
Karakal brands include the X-tack, XJP, X-weather, Weather Max, Leather Max and the NEW XJP Putter grips. See the Karakal grip line at www.karakalgolfgrips.com Or contact us 626-369-3900, e-mail karakal@yocaher.com
March 8, 2004
KARAKAL GOLF GRIPS PARTICIPATES IN PROFESSIONAL CLUBMAKERS¹ SOCIETY EXPO
Newark, Ohio - Karakal Golf Grips recently attended the Professional Clubmakers¹ Society Expo in Louisville, Kentucky.
The Professional Clubmakers¹ Society EXPO was a 3-day event for members from around the world and included a trade show, seminars and the prestigious Clubmaker of the Year award. This years award was won by Jerry Hoefling Sr. of Saginaw, Michigan.
At the EXPO Karakal featured the all new X-tec firmer feel grip for the professional players and low amateurs. The better player likes the firmness in a grip that maintains stability by reducing the twisting or torque in the players hands during a swing. The new X-tec grip is available in Black, Tan, Brown, Blue and Grey.
Jack Wang, President of Karakal said "We would like to thank the Professional Clubmakers¹ Society for inviting us to participate in the EXPO for 2004. We find the interaction with the PCS members very informing. This group of individuals is dedicated to their profession of clubmaking and are constantly looking for the lastest in equipment and clubmaking technology"
Karakal brands include the X-tack, X-tack II, XJP, XJP II, and the NEW X-tec grips. See the Karakal grip line at www.karakalgolfgrips.com Or contact us 626-369-3900,
e-mail karakal@yocaher.com
February 17, 2004
KARAKAL GOLF GRIPS INTRODUCES NEW X-TEC GRIP
Karakal Golf Grips has recently developed the all new X-tec firmer feel grip for the professional players and low amateurs. These players like the firmness in a grip that maintains stability by reducing the twisting or torque in the players hands during a swing. The new X-tec grip is available in Black, Tan, Brown, Blue and Grey.
Jack Wang, President of Karakal said "We listen to our customer requests and the one product we were missing was a firmer grip desired by professional players and low handicap amateurs. Our team of engineers designed a grip that is much firmer than our X-tack model, but kept the tackiness in the material and the shock absorption comfort."
Steve Gilligan, National Sales Manager for Karakal said "With the addition of the new X-tec model we feel we have a variety of grips to offer all golfers soft and firm feeling grips as well as 6 different putter shapes and a wide variety of textures and finishes on the grips"
Karakal brands include the X-tack, X-tack II, XJP, XJP II, and the NEW X-tec grips. See the Karakal grip line at www.karakalgolfgrips.com Or contact us 626-369-3900, e-mail karakal@yocaher.com
August 11, 2003
KARAKAL GOLF GRIPS SIGNS TOUR CLUB REPAIR VAN
Karakal Golf Grips has recently entered into an agreement with Tom Hunt of the Tour Club Repair Van to sponsor Hunt on the Nationwide, PGA and Senior PGA tour events. Hunt has been on the tour for the past 15 years doing alterations, assembly and fine tuning equipment for professionals. When not on tour Hunt operates a major golf club fitting and repair shop at the Greenleaf Resort in Florida.
Jack Wang, President of Karakal said "we are very happy to have Tom Hunt as part of the Karakal family. His credentials make him the most sought after repairman on tour. We look forward to working with Tom for many years"
Steve Gilligan, National Sales Manager for Karakal said "The exposure of our new grip line on tour and the chance to work with touring pros as soon as we introduce new grips to our line
has been invaluable. Plus it has put us immediately on the tour as many players are already regripping with Karakal grips"
Karakal brands include the X-tack, X-tack II, XJP, XJP II, X-weather and the new X-cool grips. See the Karakal grip line at www.karakalgolfgrips.com Or contact us
626-369-3900, e-mail karakal@yocaher.com
May 1, 2002
Gilligan Joins Karakal Golf Grips
Steve Gilligan has joined Karakal Golf Grips as National Sales Manager. Gilligan will be setting up a distributor network and will be working closely with OEM's on new products for 2003. Gilligan is a 30 year veteran in the golf business with past stints at Rawlings Golf, Bob Toski Golf and for the past 16 years with The GolfWorks as Vice President of Marketing. Jack Wang, President of Karakal said "We're excited to bring Steve on board at Karakal, with his experience in management with a components company and his past experience at two OEM companies he has a wealth of knowledge that will help lead Karakal to the top of the golf grip industry" Karakal has been the leading grip supplier to the tennis industry in the UK and Germany for the past seven years. Karakal manufactures all weather golf grips for woods, irons and putters. For more information please contact us at 626-369-3900 or email karakal@yocaher.com
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