Document:

EX-10.24

 Exhibit 10.24 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (this “Agreement”), dated as of September 1, 2021 (the “Effective
Date”), is by and between Solo DTC Brands, LLC d/b/a Solo Stove, a Texas limited liability company (the “Company”), and William Rainer Castillo (the “Executive”). 

W I T N E S S E T H 

WHEREAS, the Executive was previously employed by Chubbies, Inc. (the “Target”, and such arrangements, the
“Prior Arrangements”); 
 WHEREAS, simultaneously with its entry into this Agreement, a subsidiary of the Company is
entering into that certain Agreement and Plan of Merger, of even date herewith, by and among the Target, Soto Buyer, Inc., Soto Merger Sub, Inc., and the Securityholder Representative defined therein (the “Transaction”), pursuant to
which the Target will become an indirect subsidiary of the Company; and 
 WHEREAS, in connection with the Transaction, the Company
desires to hire the Executive by entering into the terms of this Agreement, which shall supersede the terms and conditions of the Prior Arrangements in its entirety, and the Executive desires to enter into this Agreement and to accept such
employment, subject to the terms and conditions of this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing, of the mutual
promises contained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

1. POSITION AND DUTIES. 

(a) GENERAL. The Company shall employ the Executive, and the Executive accepts such employment, upon the terms and conditions set forth
in this Agreement. During the Employment Term (as defined in Section 2 hereof), the Executive shall serve as the Company’s Chief Product Officer of Solo Brands, Inc. In this capacity, the Executive shall have the
duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies, and such other duties, authorities and responsibilities as may reasonably be
assigned to the Executive from time to time by the Chief Executive Officer of the Company. Unless otherwise agreed with the Executive, the Executive shall report directly to the Chief Executive Officer of the Company. 

(b) OTHER ACTIVITIES. During the Employment Term, the Executive shall devote substantially all of the Executive’s time and best
efforts to the performance of the Executive’s duties with the Company; provided, that the foregoing shall not prevent the Executive from, (i) with prior written notice to the Board of Directors of Solo Brands, Inc. (the
“Board”), serving on the boards of directors or as a member of a committee of one or more non-profit organizations, (ii) participating in charitable, civic, educational, professional,
community or industry affairs, and (iii) managing the Executive’s personal investments, so long as such activities, either individually or in the aggregate, do not interfere or conflict with the performance of Executive’s duties
hereunder or create an actual conflict. 

  
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 2. EMPLOYMENT TERM. The Company agrees to employ the Executive pursuant to the terms
of this Agreement, and the Executive agrees to such employment, commencing as of the Effective Date and continuing until the Executive’s employment hereunder is terminated in accordance with Section 6 hereof, subject
to the provisions of Section 7 hereof. The period of time between the Effective Date and the termination of the Executive’s employment hereunder shall be referred to herein as the “Employment Term.”

 3. BASE SALARY. During the Employment Term, the Company agrees to pay the Executive a base salary at an annual rate equal to
$300,000, payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Executive’s Base Salary shall be subject to annual review by the Board (or a committee thereof) and may be adjusted
from time to time by the Board. The base salary as determined herein and adjusted from time to time shall constitute “Base Salary” for purposes of this Agreement. 

4. ANNUAL PERFORMANCE BONUS. During each calendar year of the Employment Term (prorated for partial years of service), the Executive
shall be eligible to participate in the Company’s annual performance bonus program as may be in effect from time to time, pursuant to which the Executive may be eligible to receive an annual performance bonus (the “Annual Performance
Bonus”), with a target Annual Performance Bonus opportunity equal to 30% of the Executive’s Base Salary, based upon the attainment of one or more performance goals established by the Board (or a committee thereof), as determined by the
Board (or a committee thereof) in its sole discretion. Any Annual Performance Bonus payable hereunder shall be paid in the calendar year immediately following the calendar year to which such Annual Performance Bonus relates, at the same time as
annual performance bonuses are paid to other senior executives of the Company, but in no event later than thirty (30) days following the Company’s receipt of the audited financials with respect to such calendar year, subject to the
Executive’s continued employment through the applicable payment date (other than as set forth in Section 7 hereof). 

5. EMPLOYEE BENEFITS. 
 (a)
BENEFIT PLANS. During the Employment Term, the Executive shall be eligible to participate in any employee benefit plan that the Company has adopted or may adopt, maintain or contribute to for the benefit of its employees generally, subject to
satisfying the applicable eligibility requirements, except to the extent such plans are duplicative of the benefits otherwise provided hereunder. The Executive’s participation will be subject to the terms of the applicable plan documents and
generally applicable Company policies. Notwithstanding the foregoing, the Company may modify or terminate any employee benefit plan at any time.  

(b) BUSINESS EXPENSES. During the Employment Term, the Company shall reimburse the Executive promptly for all expenses reasonably
incurred by the Executive in the performance of the Executive’s duties hereunder, in accordance with policies which may be adopted from time to time by the Company, following presentation by the Executive of an itemized account, including
reasonable substantiation, of such expenses. For the avoidance of doubt, such reimbursable business expenses include the reasonable costs associated with travel between Executive’s principal place of employment and Company’s headquarters,
such as airfare, mileage reimbursement, meals, and lodging. 

  
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 (c) VACATION. During the Employment Term, the Executive shall be entitled to take 6
weeks (with each “week” consisting of five (5) business days) of paid time off per annum (prorated for partial years of employment), to be used as the Executive reasonably deems appropriate consistent with past practice and subject to
the business needs of the Company, of which up to one week may roll over from year to year subject to Executive not having more than seven weeks of vacation accrued at any given time.     

6. TERMINATION. The Executive’s employment and the Employment Term shall terminate on the first of the following to occur: 

(a) DUE TO THE EXECUTIVE’S DISABILITY. Upon ten (10) days’ prior written notice by the Company to the Executive of a
termination due to Disability. For purposes of this Agreement, “Disability” shall be defined as the inability of the Executive to have performed the Executive’s material duties hereunder after reasonable accommodation due to a
physical or mental injury, infirmity or incapacity for one hundred twenty (120) days (including weekends and holidays) in any three hundred sixty-five (365)-day period as determined by the Board in its
reasonable discretion. The Executive (or the Executive’s representative) shall cooperate in all respects with the Company if a question arises as to whether the Executive has become disabled (including, without limitation, submitting to
reasonable examinations by one or more medical doctors and other health care specialists selected by the Company and authorizing such medical doctors and other health care specialists to discuss the Executive’s condition with the Company). 

(b) DUE TO THE EXECUTIVE’S DEATH. Automatically upon the date of death of the Executive. 

(c) BY THE COMPANY FOR CAUSE. Immediately upon written notice by the Company to the Executive of a termination for Cause.
“Cause” shall mean: 
 (i) the Executive’s willful misconduct or gross negligence in the performance of the
Executive’s duties to Solo Brands, Inc., or any of its direct or indirect subsidiaries (collectively, the “Company Group”); 

(ii) the Executive’s material failure to perform the Executive’s duties to the Company Group or to follow the lawful and reasonable
directives of the Board (other than as a result of death or Disability) that is not cured to the satisfaction of the Board within thirty (30) days after written notice to the Executive specifying the failure; 

(iii) the Executive’s indictment for, conviction of, or pleading of guilty or nolo contendere to, a felony; 

  
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 (iv) the Executive’s commission of an act of moral turpitude, including, without
limitation, the Executive engaging in any act of sexual misconduct at or in connection with work, including without limitation sexual harassment or sexual relations with subordinates; 

(v) the Executive’s failure to cooperate in any audit or investigation of the business or financial practices of the Company Group (other
than as a result of death or Disability) that is not cured to the satisfaction of the Board within five (5) days after written notice to the Executive specifying the failure; 

(vi) the Executive’s performance of any act of theft, embezzlement, fraud, malfeasance, dishonesty or misappropriation of the Company
Group’s property; 
 (vii) the Executive’s (A) use of illegal drugs or (B) abuse of alcohol that impairs the
Executive’s ability to perform the Executive’s duties contemplated hereunder; 
 (viii) the Executive’s breach of any
fiduciary duty owed to the Company Group (including, without limitation, the duty of care and the duty of loyalty) that is not cured (if susceptible to cure) to the satisfaction of the Board within twenty (20) days after written notice to the
Executive specifying the breach; or 
 (ix) the Executive’s breach of this Agreement, any restrictive covenants (including non-competition and non-solicitation covenants) which the Executive is bound by, or any other material agreement with the Company Group, or a material violation of the Company
Group’s code of conduct or other written policy, which is not cured (if susceptible to cure) to the satisfaction of the Board within twenty (20) days after written notice to the Executive specifying the breach or violation. 

(d) BY THE COMPANY WITHOUT CAUSE. Immediately upon written notice by the Company to the Executive of an involuntary termination without
Cause (other than for death or Disability). 
 (e) BY THE EXECUTIVE FOR GOOD REASON. The Executive may terminate the Executive’s
employment hereunder upon written notice of a termination for Good Reason. A termination of employment by the Executive for “Good Reason” shall mean a termination by the Executive of the Executive’s employment with the Company on
account of an occurrence or failure described in any or any combination of (i) through (iv) below without the Executive’s written consent, but only if (A) the Executive gives written notice to the Company specifying in reasonable
detail the circumstances claimed to provide the basis for such termination and does so within thirty (30) days following the initial occurrence of such circumstance, (B) the Company fails to correct the circumstances set forth in the
Executive’s written notice within thirty (30) days of receipt of such notice, and (C) the Executive terminates the Executive’s employment within twenty (20) days following the end of such thirty (30) day cure period:
(i) a material breach by the Company of any material provision of this Agreement, (ii) a reduction in the Executive’s Base Salary or target Annual Performance Bonus opportunity (unless such reduction affects all senior executive
employees of the Company on a proportionate basis), (iii) the relocation of the Executive’s principal place of employment to a location greater than 45 miles from the Executive’s principal place of employment in Austin, Texas, (iv) a
diminution in the Executive’s title, duties or 

  
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 responsibilities; or (v) the failure of Solo Brands, Inc. (if a public offering of such entity occurs
prior to December 31, 2021) or Solo Stove Holdings, LLC (if a public offering of Solo Brands, Inc. does not occur prior to December 31, 2021) to establish an equity incentive plan and grant an award to Executive under such plan prior to
December 31st, 2021 that is commensurate with both the form and amount of awards granted under such plan to similarly-situated senior executives of both the Company and of similar size
companies within the same industry of the Company. 
 (f) BY THE EXECUTIVE WITHOUT GOOD REASON. Upon thirty
(30) days’ prior written notice by the Executive to the Company of the Executive’s voluntary termination of employment without Good Reason (which the Company may, in its sole discretion, make effective earlier than any notice
date, provided that the Company continues to pay the Executive’s Base Salary for the full period of the Executive’s notice). 

7. CONSEQUENCES OF TERMINATION. 

(a) TERMINATION DUE TO THE EXECUTIVE’S DEATH. In the event that the Executive’s employment and the Employment Term ends on
account of the Executive’s death, the Executive or the Executive’s estate, as the case may be, shall be entitled to the following (with the amounts due under Sections 7(a)(i) through 7(a)(iv) hereof to be paid within sixty
(60) days following termination of employment, or such earlier date as may be required by applicable law): 
 (i) any earned and unpaid
Base Salary through the date of termination; 
 (ii) any Annual Performance Bonus earned but unpaid with respect to the calendar year ending
on or preceding the date of termination; 
 (iii) reimbursement for any unreimbursed business expenses incurred through the date of
termination; 
 (iv) any unused vacation time in accordance with Company policy; and 

(v) all other accrued and vested payments, benefits or fringe benefits to which the Executive shall be entitled under the terms of any
applicable compensation arrangement or benefit, equity or fringe benefit plan or program or grant or this Agreement (collectively, Sections 7(a)(i) through 7(a)(v) hereof shall be hereafter referred to as the “Accrued
Benefits”). 
 (b) TERMINATION DUE TO THE EXECUTIVE’S DISABILITY. In the event that the Executive’s employment
and/or Employment Term ends on account of the Executive’s Disability, the Company shall pay or provide the Executive with the Accrued Benefits. 

(c) TERMINATION BY THE COMPANY FOR CAUSE OR BY THE EXECUTIVE WITHOUT GOOD REASON. If the Executive’s employment and the
Employment Term are terminated (i) by the Company for Cause or (ii) by the Executive without Good Reason, the Executive shall be entitled only to the Accrued Benefits (other than the amount set forth in
Section 7(a)(ii) hereof).  
 (d) TERMINATION BY THE COMPANY WITHOUT CAUSE OR BY THE EXECUTIVE FOR
GOOD REASON. If the Executive’s employment and the Employment Term are terminated (x) by the Company other than for Cause (and not due to Executive’s death or Disability) or (y) by the Executive for Good Reason, then the
Company shall pay or provide the Executive with the following: 

  
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 (i) the Accrued Benefits; 

(ii) subject to the Executive’s continued compliance with the obligations in Sections 8, 9 and 10 hereof, an amount
equal to 12 months of the Executive’s Base Salary (but not as an employee), paid monthly in accordance with the Company’s payroll practices in effect on the date of termination (the “Severance Payments”) for a period of 12
months following such termination (the “Severance Period”); provided that to the extent that the payment of any amount constitutes “nonqualified deferred compensation” for purposes of “Code
Section 409A” (as defined in Section 21 hereof), any such payment scheduled to occur during the first sixty (60) days following such termination shall not be paid until the regularly scheduled pay period
following the sixtieth (60th) day following such termination and shall include payment of any amount that was otherwise scheduled to be paid prior thereto; and provided, further,
that payment of the Severance Payments shall immediately cease upon the Executive beginning any subsequent employment or consulting relationship during the Severance Period; and 

(iii) subject to the Executive’s continued compliance with the obligations in Sections 8, 9 and 10 hereof and the
Executive’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will reimburse the Executive for the monthly COBRA premium paid by the
Executive for the Executive and the Executive’s eligible dependents (if any) until the earliest to occur of (A) the end of the Severance Period, (B) the date on which the Executive is no longer eligible for COBRA coverage, and (C) the
date on which the Executive becomes eligible to participate in another plan that offers group health benefits (such reimbursement, the “COBRA Subsidy”) (the Severance Payments and the COBRA Subsidy, together, the “Severance
Benefits”), provided that the Company may modify the subsidized COBRA continuation coverage contemplated hereby to the extent reasonably necessary to avoid the imposition of any excise taxes on the Company for failure to comply with the
nondiscrimination requirements of Section 105(h) of the Internal Revenue Code of 1986, as amended; the Patient Protection and Affordable Care Act of 2010, as amended; and/or the Health Care and Education Reconciliation Act of 2010, as amended,
and in each case, the regulations and guidance promulgated thereunder (to the extent applicable). 
 During such time that the Executive is receiving any
Severance Benefits, if (A) the Company discovers grounds constituting Cause existed prior to the Executive’s termination of employment, or (B) the Executive breaches any restrictive covenants set forth in
Section 9 below, the Executive’s right to receive any Severance Benefits shall immediately cease and be forfeited, and the Executive shall immediately repay to the Company any Severance Benefits previously paid to the
Executive. 
 Any Severance Benefits provided in this Section 7(d) shall be in lieu of any termination or severance payments or
benefits for which the Executive may be eligible under any of the plans, policies or programs of the Company or under the Worker Adjustment Retraining Notification Act of 1988 or any similar state statute or regulation.

  
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For the avoidance of doubt, to the event that the Executive dies while receiving Severance Benefits under this Section 7(d), the remainder of any amounts owed to the
Executive shall be paid to the Executive’s estate. 
 (e) OTHER OBLIGATIONS. Upon any termination of the Executive’s
employment with the Company, the Executive shall be deemed to have resigned from any position as an officer, director or fiduciary of any Company-related entity. 

(f) EXCLUSIVE REMEDY. The amounts payable to the Executive following termination of employment and the Employment Term hereunder
pursuant to Section 7 hereof shall be in full and complete satisfaction of the Executive’s rights under this Agreement and any other claims that the Executive may have in respect of the Executive’s employment with
the Company or any of its affiliates, and the Executive acknowledges that such amounts are fair and reasonable, and are the Executive’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, with respect to the
termination of the Executive’s employment hereunder or any breach of this Agreement. 
 8. RELEASE;
SET-OFFS. Any and all amounts payable and benefits or additional rights provided pursuant to this Agreement beyond the Accrued Benefits shall only be payable if the Executive executes, delivers to the
Company and does not revoke a general release of claims in the form attached hereto as Exhibit A. Such release shall be executed and delivered (and no longer subject to revocation, if applicable) within thirty (30) days following
termination (or such longer period as may be required to obtain a full and valid release of claims under applicable law). Subject to the provisions of Section 21(b)(v) hereof, the Company’s obligations to pay the
Executive amounts hereunder shall be subject to set-off, counterclaim or recoupment of amounts owed by the Executive to the Company or any of its affiliates. 

9. RESTRICTIVE COVENANTS. 

(a) CONFIDENTIALITY. During the course of the Executive’s employment and service with the Company, the Executive will have access
to Confidential Information. For purposes of this Agreement, “Confidential Information” means the Company Group’s or its affiliates’ confidential and/or proprietary information and/or trade secrets that have been developed
or used and/or will be developed and that cannot be obtained readily by third parties from outside sources, including, by way of example and without limitation, all data, information, ideas, concepts, discoveries, trade secrets, inventions (whether
or not patentable or reduced to practice), innovations, improvements, know-how, developments, techniques, methods, processes, treatments, drawings, sketches, specifications, designs, patterns, models, plans
and strategies, and all other confidential or proprietary information or trade secrets in any form or medium (whether merely remembered or embodied in a tangible or intangible form or medium) whether now or hereafter existing, relating to or arising
from the past, current or potential business, activities and/or operations of the Company Group or any of its affiliates, including, without limitation, any such information relating to or concerning finances, sales, marketing, advertising,
transition, promotions, pricing, personnel, customers, suppliers, vendors, raw partners and/or competitors. The Executive agrees that the Executive shall not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to
any person, other than in the course of the Executive’s assigned duties and for the benefit of the Company Group, either during the period of the 

  
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Executive’s employment or service or at any time thereafter, any Confidential Information or other confidential or proprietary information received from third parties subject to a duty on
the Company Group’s and its affiliates’ part to maintain the confidentiality of such information, and to use such information only for certain limited purposes, in each case, which shall have been obtained by the Executive during the
Executive’s employment by or service to the Company (or any predecessor). The foregoing shall not apply to information that (i) was known to the public prior to its disclosure to the Executive; (ii) becomes generally known to the
public subsequent to disclosure to the Executive through no wrongful act of the Executive or any representative of the Executive; or (iii) the Executive is required to disclose by applicable law, regulation or legal process (provided
that the Executive provides the Company with prior notice of the contemplated disclosure and reasonably cooperates with the Company at the Company’s expense in seeking a protective order or other appropriate protection of such information). The
terms and conditions of this Agreement shall remain strictly confidential, and the Executive hereby agrees not to disclose the terms and conditions hereof to any person or entity, other than immediate family members, legal advisors or personal tax
or financial advisors, or prospective future employers, as to the latter, solely for the purpose of disclosing the limitations on the Executive’s conduct imposed by the provisions of this Section 9 who, in each case,
agree to keep such information confidential. 
 (b) NON-COMPETITION. The Executive
acknowledges that (i) the Executive performs services of a unique nature for the Company Group, and that the Executive’s performance of such services to a competing business may result in irreparable harm to the Company Group,
(ii) the Executive has had and will continue to have access to Confidential Information which, if disclosed, may unfairly and inappropriately assist in competition against the Company Group or any of its affiliates, (iii) in the course of
the Executive’s employment by a competitor, the Executive may inevitably use or disclose such Confidential Information, (iv) the Company Group and its affiliates have substantial relationships with their customers and the Executive has had
and may continue to have access to these customers, (v) the Executive has received and will receive specialized training from the Company Group, and (vi) the Executive has generated and will continue to generate goodwill for the Company
Group in the course of the Executive’s employment and service. Accordingly, during the Executive’s employment or service with the Company Group and for a period of twelve (12) months thereafter (the “Restricted
Period”), the Executive agrees that the Executive will not, directly or indirectly, own, manage, operate, control, be employed by (whether as an employee, consultant, independent contractor or otherwise, and whether or not for compensation)
or render services to any person, firm, corporation or other entity, in whatever form, engaged in the business of any member of the Company Group, or other products regularly found in outdoor retail (the “Restricted Business”)
within (I) the United States or (II) any other country in which the Company Group conducts the Restricted Business during the Executive’s employment or service with the Company Group. For the avoidance of doubt, the parties
acknowledge and agree that Oxford Industries, Inc. and its affiliates are a competitor of the Company Group and its goods and services are within the scope of the Restricted Business. Notwithstanding the foregoing, nothing herein shall prohibit the
Executive from being (A) a director, owner, or investor of any entity that does not engage in a Restricted Business or (B) a passive owner of not more than five percent (5%) of the equity securities of a publicly traded corporation engaged
in a business that is in competition with the Company Group or any of its affiliates, so long as the Executive has no active participation in the business of such corporation. Notwithstanding the foregoing, the Company will have the right, but not
the obligation, to extend the Restricted Period until the twenty-four month anniversary of the termination of Executive’s 

  
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 employment or service with the Company Group upon written notice to the Executive on or prior to the
eleven-month anniversary of the termination of Executive’s employment or service with the Company Group; provided, the Company shall be obligated to pay Executive’s Base Salary, in accordance with the Company’s ordinary payroll
practices, for the period from the twelve-month anniversary of the termination of Executive’s employment or service with the Company Group through the twenty-four month anniversary of the termination of Executive’s employment or service
with the Company Group in the event the Company elects to extend the Restricted Period in accordance with this sentence.     

(c) NON-SOLICITATION; NON-INTERFERENCE. During the
Restricted Period, the Executive agrees that the Executive shall not, except in the furtherance of the Executive’s duties hereunder, directly or indirectly, individually or on behalf of any other person, firm, corporation or other entity,
(i) solicit, aid or induce any customer of the Company Group or any of its affiliates to purchase goods or services related to the Restricted Business from another person, firm, corporation or other entity or assist or aid any other person or
entity in identifying or soliciting any such customer, (ii) solicit, aid or induce any employee, representative or agent of the Company Group or any of its affiliates to leave such employment or retention or to accept employment with or render
services to or with any other person, firm, corporation or other entity unaffiliated with the Company Group or hire or retain any such employee, representative or agent, or take any action to materially assist or aid any other person, firm,
corporation or other entity in identifying, hiring or soliciting any such employee, representative or agent; or (iii) intentionally interfere, or intentionally aid or induce any other person or entity in interfering, with the relationship
between the Company Group or any of its affiliates and any of their respective vendors, joint venturers or licensors which causes harm to the Company Group. An employee, representative or agent shall be deemed covered by this
Section 9(c) while so employed or retained and for a period of twelve (12) months thereafter. Notwithstanding the foregoing, the provisions of this Section 9(c) shall not be violated by
general advertising or solicitation not specifically targeted at Company Group-related persons or entities. Notwithstanding anything to the contrary in this Agreement or any other agreement between Executive and the Company Group, the following
individuals are excluded from the scope of any non-solicitation, non-interference or similar provision unless such individuals have not been employed by any member of
the Company Group in the six month period prior to such solicitation: Thomas Montgomery and Kyle Hency. 
 (d) NON-DISPARAGEMENT. The Executive agrees not to, during employment or the Restricted Period, make negative comments or otherwise disparage the Company Group or its officers, directors, employees, shareholders,
members, agents or products other than in the good faith performance of the Executive’s duties to the Company. The foregoing shall not be violated by truthful statements in response to legal process, required governmental testimony or filings,
or administrative or arbitral proceedings (including, without limitation, depositions in connection with such proceedings). 
 (e)
INVENTIONS. (i) The Executive acknowledges and agrees that all ideas, methods, inventions, discoveries, improvements, work products, developments, software, know-how, processes, techniques, methods, works of authorship and other work
product, whether patentable or unpatentable, (A) that are reduced to practice, created, invented, designed, developed, contributed to, or improved with the use of any Company Group resources and/or within the scope of the Executive’s work
with the Company Group and that are made or conceived 

  
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 by the Executive, solely or jointly with others, during the period of the Executive’s employment or
service with the Company Group (or any of its predecessors in interest), whether before or after the Effective Date, or (B) suggested by any work that the Executive performs in connection with the Company Group, either while performing the
Executive’s duties with the Company Group (or any of its predecessors in interest) or on the Executive’s own time, but only insofar as they are related to the Executive’s work as an employee or other service provider to the Company
Group (or any of its predecessors in interest) (the “Inventions”), shall belong exclusively to the Company Group (or its designee), whether or not patent or other applications for intellectual property protection are filed thereon.
The Executive will keep full and complete written records (the “Records”), in the manner prescribed by the Company Group, of all Inventions, and will promptly disclose all Inventions completely and in writing to the Company Group.
The Records shall be the sole and exclusive property of the Company Group, and the Executive will surrender them upon the termination of the Employment Term, or upon the Company Group’s request. The Executive hereby irrevocably conveys,
transfers and assigns to the Company Group the Inventions and all patents or other intellectual property rights that may issue thereon in any and all countries, whether during or subsequent to the Employment Term, together with the right to file, in
the Executive’s name or in the name of the Company Group (or its designee), applications for patents and equivalent rights (the “Applications”). The Executive will, at any time during and subsequent to the Employment Term, make
such applications, sign such papers, take all rightful oaths, and perform all other acts as may be reasonably requested from time to time by the Company Group to perfect, record, enforce, protect, patent or register the Company Group’s rights
in the Inventions, all without additional compensation to the Executive from the Company Group. The Executive will also execute assignments to the Company Group (or its designee) of the Applications, and give the Company Group and its attorneys all
reasonable assistance (including the giving of testimony) to obtain the Inventions for the Company Group’s benefit, all without additional compensation to the Executive from the Company Group, but entirely at the Company Group’s expense.

 (ii) In addition, the Inventions will be deemed Work for Hire, as such term is defined under the copyright laws of the United States, on
behalf of the Company Group and the Executive agrees that the Company Group will be the sole owner of the Inventions, and all underlying rights therein, in all media now known or hereinafter devised, throughout the universe and in perpetuity without
any further obligations to the Executive. If the Inventions, or any portion thereof, are deemed not to be Work for Hire, or the rights in such Inventions do not otherwise automatically vest in the Company Group, the Executive hereby irrevocably
conveys, transfers and assigns to the Company Group, all rights, in all media now known or hereinafter devised, throughout the universe and in perpetuity, in and to the Inventions, including, without limitation, all of the Executive’s right,
title and interest in the copyrights (and all renewals, revivals and extensions thereof) to the Inventions, including, without limitation, all rights of any kind or any nature now or hereafter recognized, including, without limitation, the
unrestricted right to make modifications, adaptations and revisions to the Inventions, to exploit and allow others to exploit the Inventions and all rights to sue at law or in equity for any infringement, or other unauthorized use or conduct in
derogation of the Inventions, whether known or unknown as of the Effective Date, including, without limitation, the right to receive all proceeds and damages from any of the foregoing. In addition, the Executive hereby waives any so-called “moral rights” with respect to the Inventions. To the extent that the Executive has any rights in the results and proceeds of the Executive’s service to the Company Group that cannot be
assigned in the manner described herein, 

  
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 the Executive agrees to unconditionally waive the enforcement of such rights. The Executive hereby waives
any and all currently existing and future monetary rights in and to the Inventions and all patents and other registrations for intellectual property that may issue thereon, including, without limitation, any rights that would otherwise accrue to the
Executive’s benefit by virtue of the Executive being an employee of or other service provider to the Company Group (or any of its predecessors in interest). 

(iii) 18 U.S.C. §1833(b) provides: “An individual shall not be held criminally or civilly liable under any Federal or State trade
secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or
investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.” Nothing in this Agreement is intended to conflict with 18 U.S.C.
§1833(b) or create liability for disclosures of trade secrets that are expressly allowed by 18 U.S.C. §1833(b). Accordingly, the parties to this Agreement have the right to disclose in confidence trade secrets to federal, state, and local
government officials, or to an attorney, for the sole purpose of reporting or investigating a suspected violation of law. The parties also have the right to disclose trade secrets in a document filed in a lawsuit or other proceeding, but only if the
filing is made under seal and protected from public disclosure. 
 (f) RETURN OF COMPANY PROPERTY. On the date of the Executive’s
termination of employment with the Company Group for any reason (or at any time prior thereto at the Company Group’s request), the Executive shall return all property belonging to the Company Group or its affiliates (including, but not limited
to, any Company Group-provided laptops, computers, cell phones, wireless electronic mail devices or other equipment, or documents and property belonging to the Company Group).  

(g) REASONABLENESS OF COVENANTS. In signing this Agreement, the Executive gives the Company Group assurance that the Executive has
carefully read and considered all of the terms and conditions of this Agreement, including the restraints imposed under this Section 9. The Executive agrees that these restraints are necessary for the reasonable and proper
protection of the Company Group and its affiliates and their Confidential Information and that each and every one of the restraints is reasonable in respect of subject matter, length of time and geographic area, and that these restraints,
individually or in the aggregate, will not prevent the Executive from obtaining other suitable employment during the period in which the Executive is bound by the restraints. The Executive acknowledges that each of these covenants has a unique, very
substantial and immeasurable value to the Company Group and its affiliates and that the Executive has sufficient assets and skills to provide a livelihood while such covenants remain in force. The Executive further covenants that the Executive will
not challenge the reasonableness or enforceability of any of the covenants set forth in this Section 9. It is also agreed that each of the Company Group’s affiliates will have the right to enforce all of the
Executive’s obligations to that affiliate under this Agreement, including without limitation pursuant to this Section 9. 

(h) REFORMATION. If it is determined by a court of competent jurisdiction in any state that any restriction in this
Section 9 is excessive in duration or scope or is unreasonable or unenforceable under applicable law, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable
to the maximum extent permitted by the laws of that state. 

  
 11 

 (i) TOLLING. In the event of any violation of the provisions of this
Section 9 by the Executive, the Executive acknowledges and agrees that the post-termination restrictions contained in this Section 9 shall be extended by a period of time equal to the period of
such violation, it being the intention of the parties hereto that the running of the applicable post-termination restricted period shall be tolled during any period of such violation.  

(j) SURVIVAL OF PROVISIONS. The obligations contained in this Section 9 and
Section 10 hereof shall survive the termination or expiration of the Employment Term and the Executive’s employment or service with the Company Group and shall be fully enforceable thereafter.  

(k) CONTROLLING LANGUAGE OF RESTRICTIVE COVENANTS. The parties acknowledge and agree that Executive has entered into that certain Non-Competition Agreement between Executive and Soto Buyer, Inc. dated as of September 1, 2021 (the “Non-Compete Agreement)”. To the extent that any provision
of the Non-Compete Agreement conflicts with or is ambiguous with the scope of a restriction contained in this Employment Agreement, the terms of this Employment Agreement shall control; provided, however, that
this sentence shall not be interpreted to supersede the time period during which the Non-Compete Agreement is in effect.  

10. COOPERATION. Upon the receipt of reasonable notice from the Company Group (including its outside counsel), the Executive agrees that
while employed by, or providing services to, the Company Group and thereafter, the Executive will respond and provide information with regard to matters in which the Executive has knowledge as a result of the Executive’s employment or service
with the Company Group, and will provide reasonable assistance to the Company Group, its affiliates and their respective representatives in defense of all claims that may be made against the Company Group or its affiliates, and will assist the
Company Group and its affiliates in the prosecution of all claims that may be made by the Company Group or its affiliates, to the extent that such claims may relate to the period of the Executive’s employment or service with the Company Group.
The Executive agrees to promptly inform the Company Group if the Executive becomes aware of any lawsuit involving such claims that is likely to be filed or threatened against the Company Group or its affiliates. The Executive also agrees to promptly
inform the Company Group (to the extent that the Executive is legally permitted to do so) if the Executive is asked to assist in any investigation of the Company Group or its affiliates (or their actions), regardless of whether a lawsuit or other
proceeding has then been filed against the Company Group or its affiliates with respect to such investigation, and shall not do so unless legally required. Upon presentation of appropriate documentation, the Company shall reimburse the Executive for
any reasonable expenses the Executive incurs in connection with the Executive’s cooperation under this provision. 
 11. EQUITABLE
RELIEF AND OTHER REMEDIES. The Executive acknowledges and agrees that the Company Group’s remedies at law for a breach or threatened breach of any of the provisions of Sections 9 or 10 hereof would be inadequate and, in
recognition of this fact, the Executive agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company Group shall be entitled to obtain equitable relief in the form 

  
 12 

 of specific performance, a temporary restraining order, a temporary or permanent injunction or any other
equitable remedy which may then be available, without the necessity of showing actual monetary damages or the posting of a bond or other security. In the event of a violation by the Executive of Section 9 or 10
hereof, any severance being paid to the Executive pursuant to this Agreement or otherwise shall immediately cease, and any severance previously paid to the Executive shall be immediately repaid to the Company Group. 

12. WHISTLEBLOWER PROTECTION. The Executive understands that nothing contained in this Agreement limits the Executive’s
ability to file a charge or complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or
local governmental agency or commission (“Government Agencies”). The Executive further understands that this Agreement does not limit the Executive’s ability to communicate with any Government Agencies or otherwise participate
in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company. This Agreement does not limit the Executive’s right to receive an award for
information provided to any Government Agencies. 
 13. NO ASSIGNMENTS. This Agreement is personal to each of the parties hereto.
Except as provided in this Section 13 hereof, no party may assign or delegate any rights or obligations hereunder without first obtaining the written consent of the other party hereto. The Company may assign this Agreement
to its affiliate or to any successor to all or substantially all of the business and/or assets of the Company; provided that the Company shall require such affiliate or successor to expressly assume and agree to perform this Agreement in the
same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company and any affiliate or successor to its business
and/or assets, which assumes and agrees to perform the duties and obligations of the Company under this Agreement by operation of law or otherwise. 

14. NOTICE. For purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given (a) on the date of delivery, if delivered by hand, (b) on the date of transmission, if delivered by email, (c) on the first business day following the date of deposit, if delivered by guaranteed
overnight delivery service, or (d) on the fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to the Executive: 
 At the
address shown in the books and records of the Company. 
 If to the Company: 

Solo DTC Brands, LLC d/b/a Solo Stove 

1070 S. Kimball Ave, Suite 121 

Southlake, TX 76092 
 Attention:
        John Merris 
 Email:
              [***] 

  
 13 

 With a copy, which shall not constitute notice to: 

c/o Summit Partners, L.P. 
 222
Berkeley St, 18th Floor 
 Boston, MA 02116 

Email: [***] 
 [***] 

Kirkland & Ellis LLP 

200 Clarendon Street 
 Boston,
MA 02116 
 Attn: Matthew D. Cohn, P.C.; Dave Gusella 

Email: [***] 
 or to such other address as either
party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 

15. SECTION HEADINGS; INCONSISTENCY. The section headings used in this Agreement are included solely for convenience and shall not
affect, or be used in connection with, the interpretation of this Agreement. In the event of any inconsistency between the terms of this Agreement and any form, award, plan or policy of the Company Group, the terms of this Agreement shall govern and
control. 
 16. SEVERABILITY. The provisions of this Agreement shall be deemed severable. The invalidity or unenforceability of any
provision of this Agreement in any jurisdiction shall not affect the validity, legality or enforceability of the remainder of this Agreement in such jurisdiction or the validity, legality or enforceability of any provision of this Agreement in any
other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by applicable law. 

17. COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of
which together will constitute one and the same instrument. 
 18. GOVERNING LAW; JURISDICTION. This Agreement, the rights and
obligations of the parties hereto, and all claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Texas, without regard to the choice of law provisions thereof. Each of the parties agrees
that any dispute between the parties shall be resolved only in the courts of the State of Texas or the United States District Court for the Northern District of Texas and the appellate courts having jurisdiction of appeals in such courts. In that
context, and without limiting the generality of the foregoing, each of the parties hereto irrevocably and unconditionally (a) submits in any proceeding relating to this Agreement or the Executive’s employment by the Company or any
affiliate, or for the recognition and enforcement of any judgment in respect thereof (a “Proceeding”), to the exclusive jurisdiction of the courts of the State of Texas, the court of the United States of America for the Northern
District of Texas, and appellate courts having jurisdiction of appeals from any of the foregoing, and agrees that all claims in respect of any such Proceeding shall be heard and determined in such Texas State court or, to the extent 

  
 14 

 permitted by law, in such federal court, (b) consents that any such Proceeding may and shall be brought
in such courts and waives any objection that the Executive or the Company may now or thereafter have to the venue or jurisdiction of any such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not to
plead or claim the same, (c) WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE EXECUTIVE’S EMPLOYMENT BY THE COMPANY OR ANY AFFILIATE OF
THE COMPANY, OR THE EXECUTIVE’S OR THE COMPANY’S PERFORMANCE UNDER, OR THE ENFORCEMENT OF, THIS AGREEMENT, (d) agrees that service of process in any such Proceeding may be effected by mailing a copy of such process by registered or
certified mail (or any substantially similar form of mail), postage prepaid, to such party at the Executive’s or the Company’s address as provided in Section 14 hereof, and (e) agrees that nothing in this
Agreement shall affect the right to effect service of process in any other manner permitted by the laws of the State of Texas. Each party shall pay all of its own costs and expenses, including, without limitation, its own legal fees and expenses.

 19. MISCELLANEOUS. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or
discharge is agreed to in writing and signed by the Executive and such officer or director of the Company as may be designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with,
any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. This Agreement together with all exhibits
hereto, as well as any additional agreements referenced herein, sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes any and all prior agreements or understandings between the
Executive and the Company with respect to the subject matter hereof (including, without limitation, the Prior Arrangements). The parties agree that in no event shall any severance or additional consideration be paid out as part of the Prior
Arrangements as a result of Executive entering into this Agreement. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth
in this Agreement. 
 20. REPRESENTATIONS. The Executive hereby represents and warrants to the Company that (a) the Executive has
the legal right to enter into this Agreement and to perform all of the obligations on the Executive’s part to be performed hereunder in accordance with its terms, and (b) the Executive is not a party to any agreement or understanding,
written or oral, and is not subject to any restriction, which, in either case, could prevent the Executive from entering into this Agreement or performing all of the Executive’s duties and obligations hereunder.  

21. TAX MATTERS. 
 (a)
WITHHOLDING. The Company Group may withhold from any and all amounts payable under this Agreement or otherwise such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 

  
 15 

 (b) SECTION 409A COMPLIANCE.  

(i) To the extent applicable, the intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code
Section 409A and the regulations and guidance promulgated thereunder (collectively, “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in
compliance therewith. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original
intent and economic benefit to the Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall the Company Group be liable for any additional tax, interest or penalty
that may be imposed on the Executive by Code Section 409A or damages for failing to comply with Code Section 409A. 
 (ii) A
termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amount or benefit upon or following a termination of employment unless such termination is also a
“separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean
“separation from service.” Notwithstanding anything to the contrary in this Agreement, if the Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Code
Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered “nonqualified deferred compensation” under Code Section 409A payable on account of a “separation from service,”
such payment or benefit shall not be made or provided until the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such “separation from service” of the Executive, and (B) the
date of the Executive’s death, to the extent required under Code Section 409A. Upon the expiration of the foregoing delay period, all payments and benefits delayed pursuant to this Section 21(b)(ii) (whether they
would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Executive in a lump sum, and all remaining payments and benefits due under this Agreement shall be paid or provided
in accordance with the normal payment dates specified for them herein. 
 (iii) To the extent that reimbursements or other in-kind benefits under this Agreement constitute “nonqualified deferred compensation” for purposes of Code Section 409A, (A) all expenses or other reimbursements hereunder shall be made on or prior to
the last day of the taxable year following the taxable year in which such expenses were incurred by the Executive, (B) any right to reimbursement or in-kind benefits shall not be subject to liquidation or
exchange for another benefit, and (C) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for
reimbursement, or in-kind benefits to be provided, in any other taxable year. 
 (iv) For purposes of
Code Section 409A, the Executive’s right to receive installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a
payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company. 

  
 16 

 (v) Notwithstanding any other provision of this Agreement to the contrary, in no event shall
any payment or benefit under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless otherwise permitted by Code Section 409A. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 17 

 IN WITNESS WHEREOF, the parties hereto have executed this Employment Agreement as of
the date first written above. 
  

			
	SOLO DTC BRANDS, LLC
		
	By:	 	 /s/ John Merris

	Name:	 	John Merris
	Title:	 	Chief Executive Officer
	
	EXECUTIVE
	
	 /s/ WILLIAM RAINER CASTILLO

	WILLIAM RAINER CASTILLO

 Employment Agreement Signature Page 

 Exhibit A  

GENERAL RELEASE 
 I,
[•], in consideration of the performance by [•], a [•] (the “Company”), of its obligations under the Employment Agreement, dated [•], between the Company and me (as amended from time to time, the
“Agreement”), do hereby release and forever discharge as of the date hereof the Company and its affiliates and all present and former members, managers, directors, officers, agents, representatives, employees, attorneys, insurers,
benefit plans, successors and assigns of the Company and its affiliates (collectively, the “Released Parties”) to the extent provided below. Capitalized terms used but not defined herein shall have the meanings given to them in the
Agreement. 
  

	1.	 I understand and agree that I will not receive any Severance Benefits (a) unless I execute this General
Release and do not revoke this General Release within the time period permitted hereafter, (b) if I breach this General Release or (c) if I breach any provision of Section 9 of the Agreement. Such payments will not be considered
compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or any of its affiliates. I also acknowledge and represent that I have received all payments and benefits that
I am entitled to receive (as of the date hereof) by virtue of any employment by the Company. 

  

	2.	 Except for the provisions of the Agreement which expressly survive the termination of my employment with the
Company, I knowingly and voluntarily (for myself and any person or entity acting through, in the right of, jointly or in concert with myself or whose rights derive from any relationship with me, including, but not limited to, my spouse, my heirs,
executors, attorneys, representatives, agents, administrators and assigns (the “Releasing Parties”)) fully and unconditionally release and forever discharge the Company and the other Released Parties from any and all claims, suits,
controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature
whatsoever in law and in equity, both past and present (through the date I execute this General Release) and whether known or unknown, suspected, or claimed against the Company or any of the other Released Parties which I or any Releasing Party, may
have, including but not limited to those which arise out of or are connected with my employment with, or my separation or termination from, the Company and its affiliates (including, but not limited to, any allegation, claim or violation, arising
under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the
Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; the Fair Labor Standards Act) [LIST MAY BE UPDATED UPON
TERMINATION TO REFLECT LAWS THEN APPLICABLE REGARDING EMPLOYMENT AND TERMINATION OF EMPLOYMENT] or their state or local counterparts; or under any other federal, state or local civil or human rights law, or under any other local, state, or federal
law, regulation or ordinance; or under any public policy, contract (including under the Agreement, and unless otherwise specifically set forth in this General 

 Release, I shall have no further rights under the Agreement or any other agreement or
contract with any Released Party), or tort, or under common law; or arising under any employment policies, practices or procedures of the Company or any of its affiliates; or any claim for wrongful discharge, breach of contract, infliction of
emotional distress, defamation; or any claim for costs, fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the “Claims”). Excluded from this
release and the definition of “Claims” are any Claims that: (A) by law cannot be released in a private agreement (such as workers compensation claims); (B) arise after the date I execute this General Release; (C) are for
the Company’s breach of the Agreement in respect of the Severance Benefits or other payments described in Section 7(d) or the definition of “Restricted Period” of the Agreement; (D) relate to the terms and conditions of this
General Release; (E) are for COBRA coverage or other continuation of health insurance coverage provided by applicable state law; and/or (E) relate to any rights to vested or accrued benefits, such as vested pension or retirement benefits,
or any insurance benefits accrued before the date I execute this General Release (such as medical insurance benefits for services rendered before such date or long term disability benefits for a disability that occurred before such date), the rights
to which are governed by the terms of the applicable plan documents and award agreements. 
  

	3.	 I represent that I have made no assignment or transfer of any right, claim, demand, cause of action, or other
matter covered by paragraph 2 above. 

  

	4.	 I understand that nothing in this General Release prevents me from filing a charge or complaint with, or from
participating in an investigation or proceeding conducted by, the Equal Employment Opportunity Commission, the National Labor Relations Board, or any other federal, state or local agency charged with the enforcement of any employment or labor laws,
although by signing this General Release I am giving up any right to monetary recovery that is based on any of the Claims I have released. I also understand that if I file such a charge or complaint, I have, as part of this General Release, waived
the right to receive any remuneration for any Claims beyond what I have received in this General Release. 

  

	5.	 In signing this General Release, I acknowledge and intend that it shall be effective as a bar to each and every
one of the Claims. I expressly consent that this General Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims (notwithstanding any
state statute that expressly limits the effectiveness of a general release of unknown, unsuspected or unanticipated Claims), if any, as well as those relating to any other Claims. I acknowledge and agree that this waiver is an essential and material
term of this General Release and that without such waiver the Company would not have agreed to the terms of the Agreement. I further agree that in the event I should bring a Claim seeking damages against the Company or any other Released Party, or
in the event I should seek to recover against the Company or any other Released Party in any Claim brought by a governmental agency on my behalf, this General Release shall serve as a complete defense to such Claims. I further waive any right to
recovery with respect to any Claim in a proceeding instituted on my behalf by an administrative agency or other entity regarding my employment with, or separation from, the Company. I further agree that I am not aware of any pending charge or
complaint of the type described in paragraph 2 with respect to any Claim as of the execution of this General Release. 

  
 A-3 

	6.	 I represent that I am not aware of any Claim by me other than the Claims that are released by this Agreement. I
agree to expressly waive any rights I may have under any state statute that expressly limits the effectiveness of a general release of unknown, unsuspected or unanticipated Claims, as well as under any other statute or common law principles of
similar effect. 

  

	7.	 I agree that neither this General Release, nor the furnishing of the consideration for this General Release,
shall be deemed or construed at any time to be an admission by the Company, any other Released Party or me of any improper or unlawful conduct. 

  

	8.	 I agree that if I violate this General Release by suing the Company or the other Released Parties in respect of
a Claim, I will pay all reasonable costs and expenses of defending against the suit incurred by the Released Parties in the event that they are the prevailing party, including reasonable attorneys’ fees. 

 

	9.	 I acknowledge and reaffirm my obligation to abide by the covenants set forth in the Agreement as though fully
set forth herein, including, without limitation, those covenants set forth in Section 9 of the Agreement. I further agree that as of the date hereof, I have returned to the Company any and all property belonging to the Company Group or its
affiliates (including, but not limited to, any Company Group-provided laptops, computers, cell phones, wireless electronic mail devices or other equipment, or documents and property belonging to the Company Group) and that I shall not retain any
copies, compilations, extracts, excerpts, summaries or other notes of any such manuals, files, documents, records, software, customer data base or other data, provided, however, the provisions of this Section 9 do not apply
to the Agreement or employee benefit plans and underlying documents in respect of my compensation and employee benefits. 

  

	10.	 I hereby waive any reinstatement or future employment with the Company or any of its affiliates and agree never
to apply for employment or otherwise seek to be hired, rehired, employed, reemployed, or reinstated by the Company or any of its affiliates without the prior written approval of the Company. 

 

	11.	 Whenever possible, each provision of this General Release shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other provision or any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained
herein. Upon a finding by a court of competent jurisdiction that any release or agreement in this General Release is illegal, void or unenforceable, I agree, at the Company’s option, to execute promptly a release and agreement that is legal and
enforceable. My failure to comply with the obligations to promptly execute such release will constitute a material breach of this General Release. 

BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 
  

	(i)	 I HAVE READ IT CAREFULLY; 

  
 A-4 

	(ii)	 I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO,
RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED; 

  

	(iii)	 I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

 

	(iv)	 I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL
READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION; 

  

	(v)	 I HAVE HAD AT LEAST [21][45]2 DAYS FROM THE DATE OF MY
RECEIPT OF THIS RELEASE SUBSTANTIALLY IN ITS FINAL FORM ON ___________, ________ TO CONSIDER IT AND THE CHANGES MADE SINCE THAT TIME ARE NOT MATERIAL AND WILL NOT RESTART THE REQUIRED 21[45]-DAY PERIOD;

  

	(vi)	 I UNDERSTAND THAT I HAVE SEVEN DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE
SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED. TO BE EFFECTIVE, ANY REVOCATION MUST BE IN WRITING AND DELIVERED WITHIN THE SEVEN-DAY PERIOD BY EMAIL TO [•];

  

	(vii)	 I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO
ADVISE ME WITH RESPECT TO IT; AND 

  

	(viii)	 I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY
AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 

  

	DATED	 AS OF ___________, ___ _____     

___________________________ 
  

 

	2 	 To be updated depending on circumstances of termination. 

  
 A-5EX-10.25

 Exhibit 10.25 

 

			
	

	  	

 October 1, 2021 
 Andrea
Tarbox 
 111 Abingdon Avenue 
 Kenilworth, IL 60043 

Dear Andrea: 
 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 Chair of the Audit
Committee of the Board. Your committee service and chairmanship shall entitle you to an additional $15,000 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 on 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 annual refresh grants in restricted stock (“RSUs”) with a value equal to
$125,000 at the then-prevailing share price and a 1-year cliff vest in accordance with public board best practices. 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 refresh grants at the discretion of the Board. 

The 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          day of October 2021: 

 

	
	
	/s/ Andrea Tarbox
	 Andrea Tarbox

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}]]