Golfsmith International Holdings (GOLF)

None.

PART III

Certain information required by Part III is omitted from this Annual Report on Form 10-K because we will file a definitive proxy statement pursuant to Regulation 14A (the “Proxy Statement”), not later than 120 days after the end of the fiscal year covered by this Form 10-K, and certain information to be included therein is incorporated herein by reference.

None.

PART III

Certain information required by Part III is omitted
from this Annual Report on Form 10-K because we will file a definitive
proxy statement pursuant to Regulation 14A (the “Proxy Statement”), not later
than 120 days after the end of the fiscal year covered by this Form 10-K,
and certain information to be included therein is incorporated herein by
reference.

Item 5. Other Information

Annual Bonus Program Update

On August 4, 2008, the Compensation Committee modified the 2008 Bonus Plan that it adopted on February 27, 2008 so that executive officers, other than the chief executive officer, will be paid bonuses on the same schedule as other key employees. The 2008 Bonus Plan was adopted to provide an outcome-based annual cash incentive to executive officers and key employees. Payments under the 2008 Bonus Plan, if any, are contingent upon achievement of specified corporate objectives, as well as the employee’s continued employment with the Company on the date of payment. Executive officers

23

Item 5. Other Information

Annual Bonus Program Update

On August 4, 2008, the Compensation Committee modified the 2008 Bonus Plan that it adopted on February 27, 2008 so that executive officers, other than the chief executive officer, will be paid bonuses on the same schedule as other key employees. The 2008 Bonus Plan was adopted to provide an outcome-based annual cash incentive to executive officers and key employees. Payments under the 2008 Bonus Plan, if any, are contingent upon achievement of specified corporate objectives, as well as the employee’s continued employment with the Company on the date of payment. Executive officers are eligible under the 2008 Bonus Plan for a cash bonus of up to 40% of base pay for senior vice presidents and 25% of base pay for other vice presidents.  As a result of the amendment to the 2008 Bonus Plan, executive officers are eligible for payment of 30% of the potential bonus upon completion of the second fiscal quarter and 70% of the potential bonus after year end. Bonus payments for named executive officers will be made in August 2008 and, if a subsequent bonus is achieved, in the first quarter of fiscal 2009.  The Compensation Committee did not make any other modification to the plan nor modify the total potential bonus for any individual in the plan.

The Compensation Committee has not set specific individual performance targets for employees or executive officers but instead has based achievement of the annual bonus on achievement of corporate goals.  For additional information on the 2008 Bonus Plan, see the Company’s proxy statement filed with the Securities and Exchange Commission on March 27, 2008 under the caption “Compensation Discussion and Analysis—Elements of Compensation—Annual Bonus Program.”