Document:

EX-10.26

 Exhibit 10.26 

 
 

 
 August 25, 2021 
 Julia
Brown 
 [***] 
 Dear Julia: 

On behalf of my fellow Board members, I am pleased to extend to you a formal offer to serve on the Board of Managers of Solo Brands (“Solo” or the
“Company”) and the governing boards of its subsidiaries. 
 In return for your services, you will receive annual cash compensation of $60,000 (on
an annualized basis based on number of calendar days) payable to you by the Company or one of its subsidiaries payable in monthly installments in accordance with the Company’s general payroll practices for its executive officers (as in effect
from time to time). We intend to appoint you to the compensation committee of the Board. Your committee service shall entitle you to an additional $6,000 in annual cash compensation. 

In addition, you will receive 85,000 Incentive Units of the Company (the “Incentive Units”) for a de minimis purchase price of $100 in the
aggregate. The Incentive Units shall have a participation threshold or “strike price” which corresponds with the most recent equity valuation of the Company at $4.12 per unit (an enterprise value of approximately $2.10 billion). The
Incentive Units will time-vest ratably over four years, with 25% of such time-vesting Incentive Units vesting quarterly until the first anniversary of the grant date and the remaining 75% vesting in equal monthly installments over the following
three years, in each case so long as you continue serving on the Board. In the event of an initial public offering (“IPO”) of the Company, you will receive an additional grant of restricted stock (“RSUs”) of $300,000, which shall
vest annually over three years. You will receive an annual refresh grant of RSUs with a value equal to $125,000 at the then-prevailing share price at the first annual meeting of shareholders and at each subsequent annual meeting for so long as you
continue to serve on the Board. Your annual grants shall vest at the earlier of one (1) year from the grant date or the next annual shareholders meeting date. All post-IPO director compensation is subject to an annual limit of $750,000 per
annum ($1.0 million in the first year). In the event that the Company does not complete an IPO you will be eligible for annual refresh grants in a private company incentive plan at the discretion of the Board. 

The initial incentive unit grant will be made pursuant to an Incentive Equity Agreement substantially in the same form as will be adopted by the Board for the
Company’s executive officers. The equity grant will not provide any guarantee of or commitment to your continued service on the Board. The Incentive Units are designed for you to realize superior tax treatment as compared to a traditional
option program. 
 You will also have the opportunity to make a cash investment in an amount up to $250,000 in the Company’s Ordinary Units at the
current price per unit of $4.12. These units will be issued by the Company with a deadline to purchase of August 31, 2021. 

 The Board currently expects to meet approximately once every quarter. We expect to conduct two board
meetings per year in person and two meetings per year virtually. Additional telephonic or in-person committee or Board meetings may be held as necessary. Board meetings will be held in Dallas at the principal offices of the Company. Although in-person attendance is encouraged when practical, participation by teleconference is acceptable as your schedule demands. Board members currently serve for an unlimited term, subject to your resignation or removal
from the Board by funds affiliated with Summit Partners, L.P. 
 The Company’s policy is to provide indemnification to the members of the Board of
Managers in connection with their service to the Company. The Company’s Limited Partnership Agreement provides broad indemnification rights and the Company also offers a separate indemnification agreement with its Board members. The Company
will maintain customary Directors & Officers insurance at all times. All reasonable travel expenses for board matters will be reimbursed by the Company. 

I know I speak for the entire Board in extending a sincere welcome. We think you will make a tremendous addition to the Board and we look forward to your able
support and guidance in directing the future growth of Solo Brands. To accept this offer, please counter-sign this letter below and return a copy to me. We will then provide a series of legal documents for your review and signature. 

Best Regards, 
 Matthew
Guy-Hamilton 
 Board Member 
  

	
	Agreed and accepted this 30th day of August 2021:
	
	 /s/ Julia Brown

	Julia Brown

  

							
	BOSTON	  	MENLO PARK	  	LONDON	  	WWW.SUMMITPARTNERS.COMEX-10.27

 Exhibit 10.27 

 

			
	

	  	

 August 30,2021 
 Marc
Randolph 
 322 Charles Hill Road 
 Santa Cruz, CA 95065 

Dear Marc: 
 On behalf of my fellow Board members, I am pleased
to extend to you a formal offer to serve on the Board of Managers of Solo Brands (“Solo” or the “Company”) and the governing boards of its subsidiaries. 

In return for your services, you will receive annual cash compensation of $60,000 (on an annualized basis based on number of calendar days) payable to you by
the Company or one of its subsidiaries payable in monthly installments in accordance with the Company’s general payroll practices for its executive officers (as in effect from time to time). 

In addition, you will receive 85,000 Incentive Units of the Company (the “Incentive Units”) for a de minimis purchase price of $100 in the aggregate.
The Incentive Units shall have a participation threshold or “strike price” which corresponds with the most recent equity valuation of the Company at $4.12 per unit (an enterprise value of approximately $2.10 billion). The Incentive Units
will time-vest ratably over four years, with 25% of such time-vesting Incentive Units vesting quarterly until the first anniversary of the grant date and the remaining 75% vesting in equal monthly installments over the following three years, in each
case so long as you continue serving on the Board. In the event of an initial public offering (“IPO”) of the Company, you will receive an additional grant of restricted stock (“RSUs”) of $300,000, which shall vest annually over
three years. You will receive an annual refresh grant of RSUs with a value equal to $125,000 at the then-prevailing share price at the first annual meeting of shareholders and at each subsequent annual meeting for so long as you continue to serve on
the Board. Your annual grants shall vest at the earlier of one (1) year from the grant date or the next annual shareholders meeting date. All post-IPO director compensation is subject to an annual limit
of $750,000 per annum ($1.0 million in the first year). In the event that the Company does not complete an IPO you will be eligible for annual refresh grants in a private company incentive plan at the discretion of the Board. 

The initial incentive unit grant will be made pursuant to an Incentive Equity Agreement substantially in the same form as will be adopted by the Board for the
Company’s executive officers. The equity grant will not provide any guarantee of or commitment to your continued service on the Board. The Incentive Units are designed for you to realize superior tax treatment as compared to a traditional
option program. 

  

			
	

	  	

 

 
 You will also have the opportunity to make a cash investment in an amount up to $250,000 in the Company’s Ordinary
Units at the current price per unit of $4.12. These units will be issued by the Company with a deadline to purchase of August 31,2021. 
 The Board
currently expects to meet approximately once every quarter. We expect to conduct two board meetings per year in person and two meetings per year virtually. Additional telephonic or in-person committee or Board
meetings may be held as necessary . Board meetings will be held in Dallas at the principal offices of the Company. Although in-person attendance is encouraged when practical , participation by teleconference
is acceptable as your schedule demands. Board members currently serve for an unlimited term, subject to your resignation or removal from the Board by funds affiliated with Summit Partners, L.P. 

The Company’s policy is to provide indemnification to the members of the Board of Managers in connection with their service to the Company. The
Company’s Limited Partnership Agreement provides broad indemnification rights and the Company also offers a separate indemnification agreement with its Board members. The Company will maintain customary Directors & Officers insurance
at all times. All reasonable travel expenses for board matters will be reimbursed by the Company. 
 I know I speak for the entire Board in extending a
sincere welcome. We think you will make a tremendous addition to the Board and we look forward to your able support and guidance in directing the future growth of Solo Brands. To accept this offer, please counter-sign this letter below and return a
copy to me. We will then provide a series of legal documents for your review and signature. 
 Best Regards, 

 

	
	 /s/ Matthew Guy-Hamilton

	Matthew Guy-Hamilton
	Board Member
	
	Agreed and accepted this 31st day of August 2021:
	
	 /s/ Marc Randolph

	 Marc RandolphEX-10.28

 Exhibit 10.28 

SOLO BRANDS, INC. 

NON-EMPLOYEE DIRECTOR COMPENSATION
POLICY 
 Non-employee members of the board of directors (the
“Board”) of SoloBrands, Inc. (the “Company”) shall be eligible to receive cash and equity compensation as set forth in this Non-Employee Director Compensation Policy (this
“Policy”). The cash and equity compensation described in this Policy shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is (x) not an employee of the Company
or any parent or subsidiary of the Company and (y) not an affiliate of Summit Partners Growth Equity Funds, Summit Partners Subordinated Debt Funds, or Summit Investors X Funds (each, a “Non-Employee
Director”) unless such Non-Employee Director declines the receipt of such cash or equity compensation by written notice to the Company. This Policy shall become effective after the effectiveness of the
Company’s initial public offering (the “IPO” and such effective date, the “Effective Date”) and shall remain in effect until it is revised or rescinded by further action of the Board. This Policy may be amended, modified or
terminated by the Board at any time in its sole discretion. The terms and conditions of this Policy shall supersede any prior cash and/or equity compensation arrangements for service as a member of the Board between the Company and any of its Non-Employee Directors and between any subsidiary of the Company and any of its non-employee directors. 

1. Cash Compensation. 

(a) Annual Retainers. Each Non-Employee Director shall receive an annual retainer of $60,000
for service on the Board. 
 (b) Additional Annual Retainers. In addition, a Non-Employee
Director shall receive the following annual retainers: 
 (i) Chairperson of the Board. A
Non-Employee Director serving as Chairperson of the Board (the “Chairperson”) shall receive an additional annual retainer of $20,000 for such service. 

(ii) Lead Independent Director. A Non-Employee Director serving as Lead Independent Director
shall receive an additional annual retainer of $10,000 for such service. 
 (iii) Audit Committee. A
Non-Employee Director serving as Chairperson of the Audit Committee shall receive an additional annual retainer of $10,000 for such service. A Non-Employee Director
serving as a member of the Audit Committee (other than the Chairperson of the Audit Committee) shall receive an additional annual retainer of $6,000 for such service. 

(iv) Compensation Committee. A Non-Employee Director serving as Chairperson of the
Compensation Committee shall receive an additional annual retainer of $10,000 for such service. A Non-Employee Director serving as a member of the Compensation Committee (other than the Chairperson of the
Compensation Committee) shall receive an additional annual retainer of $6,000 for such service. 
  

  

					
		 	Confidential & Proprietary	 	1

 (v) Nominating and Corporate Governance Committee. A
Non-Employee Director serving as Chairperson of the Nominating and Corporate Governance Committee shall receive an additional annual retainer of $5,000 for such service. A
Non-Employee Director serving as a member of the Nominating and Corporate Governance Committee (other than the Chairperson of the Nominating and Corporate Governance Committee) shall receive an additional
annual retainer of $3,000 for such service. 
 (c) Payment of Retainers. The annual retainers described in Sections 1(a) and 1(b)
shall be earned on a quarterly basis based on a calendar quarter and shall be paid by the Company in arrears on a quarterly prorated portion basis (where applicable) not later than the fifteenth day following the end of each calendar quarter. In the
event a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described in Section 1(b), for an entire calendar quarter,
such Non-Employee Director shall receive a prorated portion of the annual retainer(s) otherwise payable to such Non-Employee Director for such calendar quarter pursuant
to Sections 1(a) and 1(b), with such prorated portion determined by multiplying such otherwise payable retainer(s) by a fraction, the numerator of which is the number of days during which the Non-Employee
Director serves as a Non-Employee Director or in the applicable positions described in Section 1(b) during the applicable calendar quarter and the denominator of which is the number of days in the
applicable calendar quarter. 
 2. Equity Compensation. Non-Employee Directors shall be
granted the equity awards described below. The awards described below shall be granted under and shall be subject to the terms and provisions of the Company’s 2021 Incentive Award Plan or any other applicable Company equity incentive plan then
maintained by the Company (such plan, as may be amended from time to time, the “Equity Plan”) and shall be granted subject to the execution and delivery of award agreements, in substantially the forms previously approved by
the Board. All applicable terms of the Equity Plan apply to this Policy as if fully set forth herein, and all equity grants hereunder are subject in all respects to the terms of the Equity Plan. 

(a) Effective Date Awards. Each Non-Employee Director who (i) serves on the Board as of
the Effective Date and (ii) will continue to serve as a Non-Employee Director immediately following the Effective Date, shall be automatically granted, on the date that a Form S-8 Registration Statement is filed to register the shares of common stock of the Company to be issued under the 2021 Incentive Award Plan, an award of restricted stock units that has an aggregate fair value on the
date of grant of $450,000, except for the Lead Independent Director whose award of restricted stock units shall have an aggregate fair value on the date of grant of $500,000 (as determined in accordance with FASB Accounting Codification Topic 718
(“ASC 718”) and subject to adjustment as provided in the Equity Plan in each case). The awards described in this Section 2(a) shall be referred to herein as the “Effective Date Awards”). For the
avoidance of doubt, a Non-Employee Director eligible to receive an Effective Date Award shall not be eligible to receive an Initial Award (as defined below). 

(b) Annual Awards. Each Non-Employee Director who (i) serves on the Board as of the date
of any annual meeting of the Company’s stockholders (an “Annual Meeting”) after the Effective Date and (ii) will continue to serve as a Non-Employee Director immediately
following such Annual Meeting, shall be automatically granted, on the date of such Annual Meeting, an award of restricted stock units that has an aggregate fair value on the date of grant of 

  

					
		 	Confidential & Proprietary	 	2

 
$125,000, except for the Lead Independent Director and Chairperson whose awards of restricted stock units shall each have an aggregate fair value on the date of grant of $150,000 (as determined
in accordance with ASC 718 and subject to adjustment as provided in the Equity Plan). The awards described in this Section 2(b) shall be referred to as the “Annual Awards.” Notwithstanding the foregoing, if a Non-Employee Director is elected for the first time to the Board at an Annual Meeting, the Non-Employee Director shall receive only an Initial Award in connection with such
election, and shall not receive any Annual Award on the date of such Annual Meeting as well. 
 (c) Initial Awards. If a Non-Employee Director is elected for the first time to the Board at an Annual Meeting after the Effective Date, the Non-Employee Director shall be automatically granted, on
the date of such Annual Meeting, an award of restricted stock units that has an aggregate fair value on the date of grant of $300,000, except for the Lead Independent Director and Chairperson whose awards of restricted stock units shall each have an
aggregate fair value on the date of grant of $350,000 (as determined in accordance with ASC 718 and subject to adjustment as provided in the Equity Plan). Except as otherwise determined by the Board, each
Non-Employee Director who is initially elected or appointed to the Board after the Effective Date on any date other than the date of an Annual Meeting shall be automatically granted, on the date of such Non-Employee Director’s initial election or appointment (such Non-Employee Director’s “Start Date”), an award of restricted stock units that
has an aggregate fair value on such Non-Employee Director’s Start Date (as determined in accordance with ASC 718) equal to the product of (i) $300,000 (or $350,000 in the case of the Lead Independent
Director or Chairperson) and (ii) a fraction, the numerator of which is (x) 365 minus (y) the number of days in the period beginning on the date of the Annual Meeting immediately preceding such
Non-Employee Director’s Start Date (or, if the first Annual Meeting following the Effective Date has not occurred then, the Effective Date) and ending on such
Non-Employee Director’s Start Date and the denominator of which is 365. The awards described in this Section 2(c) shall be referred to as “Initial Awards.” For the
avoidance of doubt, no Non-Employee Director shall be granted more than one Initial Award and no Non-Employee Director shall receive both an Effective Date Award and an
Initial Award. 
 (d) Termination of Employment of Employee Directors. Members of the Board who are employees of the Company or any
parent or subsidiary of the Company who subsequently terminate their employment with the Company and any parent or subsidiary of the Company and remain on the Board will not receive an Initial Award pursuant to Section 2(c) above, but to the
extent that they are otherwise eligible, will be eligible to receive, after termination from employment with the Company and any parent or subsidiary of the Company, Annual Awards as described in Section 2(b) above. 

(e) Vesting of Awards Granted to Non-Employee Directors. Each (i) Effective Date Award and
Initial Award shall vest in equal annual installments over three years from the grant date and (ii) each Annual Award shall vest on the earlier of (x) the day immediately preceding the date of the first Annual Meeting following the date of
grant and (y) the first anniversary of the date of grant, subject in each case of clauses (i) and (ii) to the Non-Employee Director continuing in service on the Board through the applicable vesting
date. No portion of an Effective Date Award, Annual Award or Initial Award that is unvested at the time of a Non-Employee Director’s termination of service on the Board shall become vested thereafter. All
of a Non-Employee Director’s Effective Date Awards, Annual Awards and Initial Awards shall vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the
extent outstanding at such time. 
  

  

					
		 	Confidential & Proprietary	 	3

 3. Expenses. The Company will reimburse each
Non-Employee Director for ordinary, necessary and reasonable out-of-pocket travel expenses to cover in-person attendance at and participation in Board meetings and meetings of any committee of the Board; provided, that the Non-Employee Director timely submit to the
Company appropriate documentation substantiating such expenses in accordance with the Company’s travel and expense policy applicable to directors, as in effect from time to time. To the extent that any taxable reimbursements are provided to any
Non-Employee Director, they will be provided in accordance with Section 409A of the Internal Revenue Code of 1986, as amended, including, but not limited to, the following provisions: (i) the amount
of any such expenses eligible for reimbursement during such individual’s taxable year may not affect the expenses eligible for reimbursement in any other taxable year; (ii) the reimbursement of an eligible expense must be made no later
than the last day of such individual’s taxable year that immediately follows the taxable year in which the expense was incurred; and (iii) the right to any reimbursement may not be subject to liquidation or exchange for another benefit.

  

					
		 	Confidential & Proprietary	 	4

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