Exhibit 10.5
May 1, 2025
Dear Ronnie,
This letter agreement (this “Agreement”) sets forth the terms and conditions whereby you agree to provide certain consulting services (as described in Schedule 1) to Duluth Holdings Inc., a Wisconsin corporation, with offices located at 201 East Front Street, Mount Horeb, Wisconsin 53572 (the “Company”).
1.2 You shall provide to the Company the consulting services set forth in Schedule 1 (the “Services”). |
1.3 The Company does not and shall not control or direct the manner or means by which you perform the Services. |
1.4 As set forth in Schedule 1, the Company shall provide you with access to its premises, materials, information, and systems to the extent necessary for the performance of the Services. |
1.5 You shall comply with all rules and procedures communicated to you in writing by the Company, including those related to safety, security, and confidentiality. |
3.1 As full compensation for the Services and the rights granted to the Company in this Agreement, the Company shall pay you a fixed monthly fee according to the following scheduled (the “Fees”): |
Month |
Fixed Monthly Fee (prorated for any partial month) |
May 2025 |
$20,000.00 |
June 2025 |
$20,000.00 |
July 2025 |
$10,000.00 |
August 2025 |
$10,000.00 |
September 2025 |
$10,000.00 |
You acknowledge that you will receive an IRS Form 1099 from the Company, and that you shall be solely responsible for all federal, state, and local taxes, as set out in Section 4.2.
3.2 The Company will reimburse you for all pre-approved travel or other costs or expenses incurred by you in connection with the performance of the Services. |
3.3 The Company shall pay all undisputed Fees within thirty (30) days after the Company’s receipt of an invoice submitted by you in accordance with the payment schedule set forth above. |
1
5.4 You shall require each of your employees and contractors, if any, to execute written agreements containing obligations of confidentiality and non-use and assignment of inventions and other work product consistent with the provisions of this Section 5 prior to such employee or contractor providing any Services under this Agreement. |
2
7. Representations and Warranties. |
(a) you have the right to enter into this Agreement, to grant the rights granted herein, and to perform fully all of your obligations in this Agreement; |
(e) the Company will receive good and valid title to all Work Product, free and clear of all encumbrances and liens of any kind; and |
3
8.2 The Company may satisfy such indemnity (in whole or in part) by way of deduction from any payment due to you. |
delivery is refused or cannot be made for any reason, then such Notice shall be deemed given on the third day after it is sent. |
12.6 This Agreement may be executed in multiple counterparts and by electronic signature, each of which shall be deemed an original and all of which together shall constitute one instrument. |
If this letter accurately sets forth our understanding, kindly execute the enclosed copy of this letter and return it to the undersigned.
Very truly yours,
DULUTH HOLDINGS INC.
By: /s/ Stephen L. Schlecht___
Stephen L. Schlecht, Chairman and
Interim Chief Executive Officer
ACCEPTED AND AGREED:
R Squared Consulting LLC
By: /s/ Ronnie Robinson____
Ronnie Robinson, Sole Member
5
SCHEDULE 1
SERVICES
1. |
Consulting Services: |
a. |
Supply Chain |
i. |
Collect and analyze relevant supply chain data during first two months |
ii. |
Evaluate options and formulate strategic recommendations to share with the leadership team |
iii. |
Engage in the hiring process of the open leader of supply chain position |
iv. |
Ensure that the person can lead the agreed strategies and execution |
v. |
Mentor the supply chain leader and engage with them for a period of time to establish the strategies, short-term and long-term goals |
b. |
Sourcing |
i. |
Collect and analyze relevant sourcing data during first two months |
ii. |
Evaluate options and formulate strategic recommendations to share with the leadership team |
iii. |
Mentor the SVP of Product Development and Sourcing and engage with them for a period of time to establish the strategies, short-term and long-term goals |
c. |
CEO Advisor |
i. |
Sounding board/advisor on all things related to Business Operations/Supply Chain and Sourcing |
6