SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the fiscal ended December 31, 1995
------------------
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
----------------- --------------------
Commission File Number 0-22230
Royal Grip, Inc.
401(k) Savings Plan
(Full title of the plan and the address of the plan,
if different from that of the issuer named below)
Royal Grip, Inc.
444 West Geneva Drive
Tempe, Arizona 85282
(Name of issuer of the securities held pursuant to the plan
and the address of its principal executive office)
<PAGE>
ROYAL GRIP, INC.
ROYAL GRIP, INC. 401(K) SAVINGS PLAN
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1995
(Prepared in accordance with the financial reporting requirements of the
Employee Retirement Income Security Act of 1974, as amended)
2
<PAGE>
SIGNATURES
The Plan. Pursuant to the requirements of the Securities
Exchange Act of 1934, Emjay Corporation, administrator of the Royal Grip, Inc.
401(k) Savings Plan, has duly caused this annual report to be signed on its
behalf by the undersigned hereunto duly authorized.
Royal Grip, Inc.
401(k) Savings Plan
Date: June 28, 1996 By: \s\ Tom Schneider
-----------------------------------------
Tom Schneider
Vice President - Finance
On behalf of Emjay Corporation, Administrator
of the Royal Grip, Inc. 401(k) Savings Plan
3
<PAGE>
ROYAL GRIP, INC. 401(k) SAVINGS PLAN
INDEX TO FINANCIAL STATEMENTS AND SCHEDULES
DECEMBER 31, 1995
FINANCIAL STATEMENT (unaudited)
Statement of Net Assets Available for Plan Benefits as of December 31,
1995
Statement of Changes in Net Assets Available for Plan Benefits for the
year ended December 31, 1995
Notes to Financial Statement
SCHEDULE
Item 27a - Schedule of Assets Held for Investment Purposes as of
December 31, 1995
- Not Applicable
Item 27d - Schedule of Reportable Transactions for the year ended
December 31, 1995
- Not Applicable
F-1
<PAGE>
Statement of Net Assets Available for Plan Benefits, with Fund Information
December 31, 1995
(unaudited)
<TABLE>
<CAPTION>
Franklin
Dean Witter AIM Franklin Equity Templeton
Liquid Income California Income AIM Growth Stock
Asset Fund A Fund Growth Fund Fund Fund Fund Equity Fund Total
---------- ------ ----------- ---- ---- ---- ----------- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Assets
Participant Contributions
Receivable $752 $2,119 $5,592 $7,700 $11,089 $8,294 $4,862 $40,408
---- ------ ------ ------ ------- ------ ------ -------
Net Assets Available for Plan
Benefits $752 $2,119 $5,592 $7,700 $11,089 $11,089 $4,862 $40,408
==== ======= ====== ====== ======= ======= ====== =======
</TABLE>
(The accompanying notes are an integral part of these statements.)
F-2
<PAGE>
Statement Of Changes In Net Assets Available
For Plan Benefits, With Fund Information
Year Ended December 31, 1995
(unaudited)
<TABLE>
<CAPTION>
Dean Witter AIM Franklin Franklin Templeton Stock
Liquid Income California Equity AIM Growth Equity
Asset Fund A Fund Growth Fund Income Fund Fund Fund Fund Total
---------- ------ ----------- ----------- ---- ---- ---- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Additions to Net Assets
attributable to:
Participant Contributions
Receivable
$752 $2,119 $5,592 $7,700 $11,089 $8,294 $4,861 $40,408
---- ------ ------ ------ ------- ------ ------ -------
Net Increase $752 $2,119 $5,592 $7,700 $11,089 $8,294 $4,861 $40,408
Net Assets Available for
Benefits:
Beginning of Year - - - - - - - -
---- ------ ------ ------ ------- ------ ------ -------
End of Year $752 $2,119 $5,592 $7,700 $11,089 $8,294 $4,861 $40,408
==== ====== ====== ====== ======= ====== ====== =======
</TABLE>
(The accompanying notes are an integral part of these statements.)
F-3
<PAGE>
Notes to Financial Statements (unaudited)
December 31, 1995
Accounting Policies
Description of the Plan
The Royal Grip, Inc. 401(k) Savings Plan (the Plan) is a defined contribution
pension plan which covers substantially all full-time employees of Royal Grip,
Inc. (the Company), who have one year of service with a minimum of 1,000 hours
and are age twenty-one or older. The Plan was established October 1995,
effective January 1, 1995 by the Company, and is subject to the provisions of
the Employee Retirement Income Retirement Security Act of 1974, as amended,
(ERISA). The ongoing cost of administering the Plan is paid by the Company.
Participants may contribute up to 15 percent of their annual wages subject to
Internal Revenue Service limitations. Participants may elect to invest in the
following eight available options; Dean Witter Liquid Asset, AIM Income A,
Franklin California Growth, Franklin Equity Income, AIM, Templeton Growth, Stock
Equity Fund, and Royal Grip Stock. Quarterly, participants have the opportunity
to change the options previously elected. The Company does not match participant
contributions.
Participants immediately vest in their voluntary contributions plus actual
earnings thereon and amounts rolled over from former plans into the Plan. Upon
termination of service, the entire current value of the participant's account is
paid to the participant in a lump sum with the participant having the option to
defer payment if the current value of the account is greater than $3,500.
Participants can obtain loans from the Plan up to 50 percent of their vested
balance. Loans must be for a minimum of $1,000. At December 31, 1995, no loans
were outstanding.
Although it has not expressed any intent to do so, the Company has the
discretionary right to terminate the Plan, subject to the provisions of ERISA.
F-4
<PAGE>
Royal Grip, Inc. Retirement Plus Plan and Trust
Notes to Financial Statements (continued)
Accounting Policies (continued)
Description of the Plan (continued)
The foregoing description of the Plan provides only general information.
Participants should refer to the Plan Agreement for a complete description of
the Plan's provisions.
Income Tax Status
The Plan is in the process of filing an application with the Internal Revenue
Service to qualify under Sections 401(a) and 401(k) of the Internal Revenue Code
of 1986, as amended (Code) which would result in the Plan not being subject to
tax under present income tax law. Once qualified, the Plan is required to
operate in conformity with the Code to maintain its qualification. The Plan
Administrator is not aware of any course of action or series of events that have
occurred that might result in an adverse ruling by the Internal Revenue Service.
Accordingly, the accompanying financial statements do not reflect any provision
for federal income taxes which would be necessary should the Plan be
unsuccessful in obtaining its qualification.
F-5
