Document:

Offer letter, dated September 2, 2010

 Exhibit 10.22 
 [LOGO OF SKULLCANDY] 
 September 2, 2010 

Aaron Behle 
 1015 Calle De Los Arboles

 San Clemente, CA 92673 
 Dear Aaron:

 It is with great anticipation and excitement that Skullcandy presents to you this offer to join our team as the as our first VP of
International. Below please find Skullcandy’s formal offer, including a description of this position and an outline of compensation and benefits. 
 Position 
 You will report to Jeremy Andrus, President, and initially will be responsible
for all sales that occur within the international channel (excluding Canada, which operates under the US sales organization). In this role, you will interact with all functional areas in the company including Supply Chain, Marketing, Creative,
Accounting/Finance and Product Development to ensure that the appropriate approach is taken for all international regions. It is anticipated that you will work closely with Jeremy in establishing and managing regional and direct offices, which will
have Profit & Loss responsibility as well as with the current network of third party distributors. Reporting directly to you will be International Dealer Services, International Marketing Manager, all distributors and future hires within
the international organization. 
 Compensation 
 Your compensation will be comprised of a combination of base salary, performance cash bonus, equity (in the form of Company stock options) and a share in the Management Incentive Plan. Specifically:

 Base Salary: USD $230,000 annualized 
 Cash Performance Bonus: A performance bonus potential of 100% of base salary will be paid in the first quarter following the year measured. The first bonus will be paid in Q1 of 2011 based on 2010
performance, and will be pro-rated according to your time with the company. Your bonus will be calculated according to your channel’s share of the company budget, with  1/3 of your bonus earned upon hitting budget and increasing in a linear
payout up to 100% of your bonus, consistent with the company plan. 
 Bonus metrics will adjust annually and will be mutually agreed
upon. 
  

					
	Equity:	 		 	There are two components of equity compensation:
			
		 	-	 	Stock Options:

					
		 		 	 •    The Company will grant 6,000 Options to purchase Skullcandy stock
at the current strike price on your first day of employment. Options will be granted from the Company’s 2008 Stock Option Plan.
  

•    The Company will grant an additional 2,500 performance-based Options to purchase
Skullcandy stock at the current strike price on your first day of employment. These options will vest when the international channel (excluding Canada) reaches $100 million in annual sales, but no later than December 31, 2013. If the $100
million sales metric has not been reached by the end of 2013, the Options will be forfeited and returned to the company.

			
		 	-	 	Management Incentive Plan: The Company will allocate 4% of its Management Incentive Plan based on the structure defined in the Participation Agreement, which will be provided on the
first day of employment.

 Benefits 
 401k: Participation in 401k retirement plan, including 4% matching contributions by Company. 

Health Insurance: You (and your family) will be invited to participate in the Company health insurance program as offered to all employees. 

Paid vacation: 3 weeks plus all Company holidays 
 Commuting Arrangement 
 Although based out of the San Clemente office, you will be expected
to be in the Park City offices at least once per month - Monday through Thursday each trip (including the Monday when we hold our Sales & Operations Planning and company-wide meeting, generally the first Monday of each month). The Company
requests that you book airfare with reasonable advance notice as to keep travel expenses as low as possible. 
 Reimbursements

 The Company will reimburse all approved business expenses in an agreed upon, reasonable manner. 

Resignation and Severance 
 If you
voluntarily resign your position with the Company, this Agreement will terminate on the effective date of your resignation. You will be entitled to receive earned wages and any unused accrued vacation through and including the effective date of
resignation. You will be eligible to exercise stock options subject to the terms and conditions of Skullcandy’s Stock Incentive Plan, however, you will no longer be eligible to participate in the bonus pool or receive any undistributed funds
under the MIP. 
 In the event of termination of your employment by the Company without cause, Skullcandy will provide you with severance pay in
the amount of your salary at the time of termination plus benefits, to be paid in accordance with Skullcandy’s regular payroll 

 
practices for a period of 6 months following the date of termination. In the event of termination all stock options and MIP participation will be subject to their respective rules &
regulations. 
 Termination 

The Company is excited about your joining and looks forward to a beneficial and fruitful relationship. Nevertheless, you should be aware that your
employment with the Company is for no specified period and constitutes at-will employment. As a result, you are free to resign at any time, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with
you at any time, with or without cause, and with or without notice. We request that, in the event of resignation, you give the Company at least two weeks notice. 
 We also ask that, if you have not already done so, you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or
limit the manner in which you may be employed (such as confidentiality or non-compete agreements that may be in conflict with your duties at Skullcandy). It is the Company’s understanding that any such agreements will not prevent you from
performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business
activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. Similarly, you
agree not to bring any third party confidential information to the Company, and that in performing your duties for the Company you will not in any way utilize any such information. 
 As a condition of your employment, you will also be required to sign and comply with an Employment, Confidential Information, Invention Assignment and Arbitration Agreement which requires, among other
provisions, the assignment of patent rights to any invention made during your employment at the Company, and non-disclosure of Company proprietary information. In the event of any dispute or claim relating to or arising out of our employment
relationship, you and the Company agree that (i) any and all disputes between you and the Company shall be fully and finally resolved by binding arbitration, (ii) you are waiving any and all rights to a jury trial but all court remedies
will be available in arbitration, (iii) all disputes shall be resolved by a neutral arbitrator who shall issue a written opinion, and (iv) the arbitration shall provide for adequate discovery. 

To indicate your acceptance of the Company’s offer, please sign and date this letter in the space provided below. This letter, along with any
agreements relating to proprietary rights between you and the Company, set forth the terms of your employment with the Company and supersede any prior representations or agreements including, but not limited to, any representations made during your
interviews or relocation negotiations, whether written or oral. This letter, including, but not limited to, its at-will employment 

 
provision, may not be modified or amended except by a written agreement signed by the President of the Company and you. This offer of employment will terminate if it is not accepted, signed and
returned by September 3, 2010. 
 Aaron, we are excited about the opportunity to work with you. I look forward to discussing this
opportunity with you shortly. 
 Sincerely, 
  

							
		 		 	Agreed to and accepted:
				
	 /s/ Jeremy Andrus
	 		 	Signature:	 	 /s/ Aaron Behle

	Jeremy Andrus	 		 	Printed Name:	 	 Aaron Behle

	President, Skullcandy, Inc.	 		 	Date:	 	 September 3, 2010Offer letter, dated August 15, 2008

 Exhibit 10.24 
 [LOGO OF SKULLCANDY] 
 August 15, 2008 

Dan Levine 
 Via Email: dann.levine@gmail.com

 Dear Dan: 
 The boys and girls at
Skullcandy are stoked to present you this offer to join our team as Vice President of Creative. Below please find Skullcandy’s formal offer, including a description of this position and an outline of compensation and benefits. 

Position 
 This position is considered
part of the Senior Executive Team, on par with Scot Carlson, our VP of Finance. Initially, you’re responsibilities will stretch over two critical functions of the company, heading up all Marketing efforts, as well as overseeing product
development. You will report directly to me, but will have significant interaction with all key players in the company that will support your role. In addition, you will have all Directors relative to marketing and product development each reporting
to you. You will be responsible for the department P&L as well as compensation, career development and the accountability of these reports. 

Outline of Responsibilities 
  

	 	•	 	 Overall responsibility for all marketing and product development efforts at the company. 

 

	 	•	 	 Oversee the development and merchandising of future product lines, with vision to future channel expansion. 

 

	 	•	 	 Oversight of all Skullcandy marketing efforts, including Focus on execution of major events, and relationships with leading athletes, artists, action
sports and fashion brands. 

  

	 	•	 	 Whatever other crap we choose to throw at you. (BRING IT!!!) 

 Compensation 
 Your compensation will be comprised of a combination of base salary, bonus
potential, and equity in the Company. Specifically: 
 Base Salary: USD $200,000 
 Bonus Structure: Bonuses will be tied to both revenue (50%) and performance metrics (50%). Revenue bonus will be paid according to a three-tier projection structure. Each year, the Board of Directors
will establish these financial goals to trigger different bonus levels. For 2008, you would qualify for your pro-rata share of this target. This year the structure is: 
 At $55M revenue with 25% EBITDA margin, 50% of base 
 At $70M revenue with 25%
EBITDA margin, 100% of base 
 At $85M revenue with 25% EBITDA margin, 150% of base 

 The second 50% of your bonus structure would be based on predetermined performance metrics to be agreed upon
in advance. For 2008, these metrics would be primarily based on the timely delivery of the 2009 product line, as well as exceptional results at the fall and Q1 trade shows. In 2008, your bonus segments would be paid pro-rata based on your start
date. More detail on these goals would be determined prior to your start. 
 Equity: Management will recommend to the board that they grant 7000
shares of Skullcandy stock at the strike price on your first day of employment. 
 Relocation Schedule: This position is based in our Park City,
Utah headquarters. To allow significant flexibility relative to your families relocation, Skullcandy proposes you work 4 days per week in Park City, and a fifth day from home, irrespective of other corporate travel. At the end of the 2008-2009
school year, the job would transition to full-time (5 days per week) in Park City. 
 Moving Allowance: Skullcandy is allocating $50,000 to
cover your relocation and travel expenses as you transition full time to Park City. Related relocation expenses will be paid in advance by you, and submitted for reimbursement to be paid out according to standard company policies and schedule. If
you were to leave the company in less than 24 months, the company would have the right to repurchase $50,000 of your vested stock at your original strike price. 
 Benefits 
 401k:Participation in 401k-retirement plan, including 4% matching contributions
by company. 
 Health reimbursement: You will be invited to participate in the company health insurance program as offered to all employees.
Participation in the program would be at the earliest possible date permitted by the insurance provider. 
 Paid vacation: 3 weeks plus all
Company holidays 
 Reimbursements 
 The company will reimburse all approved business expenses in an agreed upon, reasonable manner. 

Termination 
 The Company is excited
about your joining and looks forward to a beneficial and fruitful relationship. Nevertheless, you should be aware that your employment with the Company is for no specified period and constitutes at-will employment As a result, you are free to resign
at any time, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause, and with or without notice. We request that, in the event of resignation, you give the
Company at least two weeks notice. 

 We also ask that, if you have not already done so, you disclose to the Company any and all agreements
relating to your prior employment that may affect your eligibility to be employed, by the Company or limit the manner in which you may be employed (such as confidentiality or non-compete agreements that may be in conflict with your duties at
Skullcandy). It is the Company’s understanding that any such agreements will not prevent you from performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with
the Company, you will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you
engage in any other activities that conflict with your obligations to the Company. Similarly, you agree not to bring any third party confidential information to the Company, and that in performing your duties for the Company you will not in any way
utilize any such information. 
 As a condition of your employment, you will also be required to sign and comply with an Employment,
Confidential Information, Invention Assignment and Arbitration Agreement which requires, among other provisions, the assignment of patent rights to any invention made during your employment at the Company, and non-disclosure of Company proprietary
information. In the event of any dispute or claim relating to or arising out of our employment relationship, you and the Company agree that (i.) any and all disputes between you and the Company shall be fully and finally resolved by binding
arbitration, (ii) you are waiving any and all rights to a jury trial but all court remedies will be available in arbitration, (iii) all disputes shall be resolved by a neutral arbitrator who shall issue a written opinion, and (iv) the
arbitration shall provide for adequate discovery. 
 To indicate your acceptance of the Company’s offer, please sign and date this letter
in the space provided below. This letter, along with any agreements relating to proprietary rights between you and the Company, set forth the terms of your employment with the Company and supersede any prior representations or agreements including,
but not limited to, any representations made during your interviews or relocation negotiations, whether written or oral. This letter, including, but not limited to, its at-will employment provision, may not be modified or amended except by a written
agreement signed by the CEO of the Company and you. This offer of employment will terminate if it is not accepted, signed and returned by August 29, 2008. 
 Dan, we are excited about the opportunity to work with you. 
  

							
	Sincerely,	 		 		 	
			
		 		 	Agreed to and accepted:
				
	 /s/ Rick Alden
	 		 	Signature:	 	     /s/ Dan Levine

	 Richard Alden
	 		 		 	
	 CEO, Skullcandy, Inc.
	 		 	Printed Name:	 	     Dan Levine

				
		 		 	Date: 	 	     8/25/08

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