Document:

EX-10.5

 Exhibit 10.5 

EXECUTION VERSION 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”), by and between Leslie’s, Inc. (the
“Company”) and Michael R. Egeck (the “Executive”), is dated as of October 19, 2020 and effective as of the date of consummation of the Company’s initial public offering pursuant to its filed Registration
Statement on Form S-1 (File No. 333-249372) (the “Effective Date”). If the Effective Date does not occur for any or no reason, this Agreement shall be null and void ab initio, and the Existing Agreement (as defined
below) shall remain in full force and effect in accordance with its terms. 
 W I T N E S S E T H 

WHEREAS, the Company’s subsidiary, Leslie’s Poolmart, Inc., and the Executive are party to that certain Employment Agreement,
dated as of January 6, 2020 (the “Existing Agreement”); 
 WHEREAS, the Company and the Executive desire to
enter into this Agreement as to the terms and conditions of the Executive’s continued employment with the Company; and 

WHEREAS, this Agreement will supersede the Existing Agreement in its entirety effective as of the Effective Date, and by entering into
this Agreement, the Executive waives any and all rights he may have to terminate his employment for Good Reason under the Existing 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. During the Employment Term (as defined in Section 2 hereof), the Executive shall serve as
the Chief Executive Officer of the Company. 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 Board of Directors of the Company (the “Board”). Unless otherwise agreed by the Executive,
the Executive shall report directly to the Board. The Board shall take such action as may be necessary to appoint or elect the Executive as a member of the Board as of the Effective Date. Thereafter, during the Term, the Board shall nominate the
Executive for re-election as a member of the Board at the expiration of the then current term; provided, that, the foregoing nomination shall not be required to the extent prohibited by legal or regulatory requirements. The Executive’s primary
working location will be at the Company’s headquarters in Phoenix, AZ, subject to such business travel as may be necessary for the Executive to perform his duties and responsibilities hereunder. 

 (b) OTHER ACTIVITIES. During the Employment Term, the Executive shall devote 100% 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 consent of the Board (exclusive of the
Executive for this purpose), serving on the board of directors or as a member of a committee of one organization, (ii) participating in charitable, civic, educational, professional, community or industry affairs, and (iii) managing the
Executive’s passive personal investments, so long as such activities, either individually or in the aggregate, do not interfere or conflict with the Executive’s duties hereunder or create a potential business or fiduciary conflict. 

2. EMPLOYMENT TERM. The Company agrees to continue to employ the Executive pursuant to the terms of this Agreement, and the Executive
agrees to continue to be so employed, effective as of the Effective Date and continuing until the Executive’s employment hereunder is terminated in accordance with Section 7 hereof, subject to the provisions of Section 8
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 not less than
$1,025,000, 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 but not below $1,025,000. 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 the Employment Term, the Executive shall be eligible to receive an annual discretionary performance
incentive payment (the “Annual Performance Bonus”) under the Company’s annual performance bonus plan as may be in effect from time to time (the “Annual Bonus Plan”). The Executive’s target Annual
Performance Bonus opportunity shall equal 100% of his Base Salary (the “Target Bonus”) and maximum Annual Performance Bonus opportunity shall equal 150% of his Base Salary, with the actual Annual Performance Bonus amount determined
based upon the attainment of one or more pre-established performance goals established by the Board (or a committee thereof) after consultation with the Executive, in accordance with the Annual Bonus Plan. Notwithstanding anything to the contrary in
the foregoing, the amount of the Executive’s Annual Performance Bonus for fiscal year 2020 (the “FY 2020 Bonus”) shall be no less than $750,000. Any Annual Performance Bonus payable hereunder (including, without limitation, the
FY 2020 Bonus) shall be paid in accordance with the terms and conditions of the Annual Bonus Plan and the Company’s standard practices, subject to the Executive’s continued employment at the time of payment (other than as set forth in
Section 6 hereof). 
 5. IPO BONUS. Within fifteen (15) days following the Effective Date, the Company shall pay to
the Executive a one-time cash bonus in the amount of $550,000. 

  
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 6. EMPLOYEE BENEFITS. 

(a) BENEFIT PLANS. During the Employment Term, the Executive shall be entitled 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 and necessarily incurred by the Executive in the performance of his duties, 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. 
 (c) PAID TIME OFF. During each calendar year during the Employment Term, the Executive
shall be entitled to take four (4) weeks (with each “week” consisting of five (5) business days) of paid time off, pro-rated for partial calendar years of employment, as he reasonably deems appropriate, consistent with past
practice and subject to the business needs of the Company. 
 (d) LEGAL FEES. Within fifteen (15) days after the Effective Date,
the Company shall pay for all of the legal fees reasonably and customarily incurred by the Executive in connection with the preparation and negotiation of this Agreement and any related equity documents. 

7. 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 the Company and its direct and indirect subsidiaries and affiliates (collectively, the “Company Group”); 

(ii) the Executive’s repeated failure to perform the Executive’s duties to the Company Group or to follow the lawful directives of
the Board (exclusive of the Executive), other than as a result of death or Disability, that is not cured within five (5) days after written notice to the Executive specifying the failure; 

  
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 (iii) the Executive’s indictment or conviction of, or pleading of guilty or nolo
contendere to, any felony; 
 (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 material 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 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) (A) the Executive’s use of illegal drugs, or (B) the Executive’s 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) within five (5) 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) by which the Executive is bound in favor of any member of the Company Group, or any other agreement to which the Executive is party with any member of the Company Group, or violation of the Company Group’s code of conduct or other
written policy, which is not cured (if susceptible to cure) within five (5) 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 his 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 his employment with the Company on account of an occurrence
described in clause (i) or (ii) 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 sixty (60) days following the initial occurrence of such circumstances, (B) the Company fails to correct the circumstances set forth in the Executive’s written notice in all material respects within
thirty (30) days following its receipt of such written notice, and (C) the Executive terminates his employment within thirty (30) days following the end of such thirty (30)-day cure period: (i) a material breach by the Company of
this Agreement or (ii) an involuntary reduction in the Executive’s Base Salary or Target Bonus opportunity. 

  
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 (f) BY THE EXECUTIVE WITHOUT GOOD REASON. Upon thirty (30) days’ prior
written notice by the Executive to the Company of the Executive’s 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). 
 8. CONSEQUENCES OF TERMINATION. 

(a) TERMINATION DUE TO THE EXECUTIVE’S DEATH. In the event that the Executive’s employment and the Employment Term end 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 8(a)(i) through 8(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 fiscal year ending on
or preceding the date of termination; 
 (iii) reimbursement for any unreimbursed business and relocation expenses incurred through the date
of termination; 
 (iv) any accrued but 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 8(a)(i) through 8(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
the Employment Term end on account of the Executive’s Disability, the Company shall pay or provide to the Executive 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 end due to a termination (i) by the Company for Cause or (ii) by the Executive without Good Reason, the Company shall pay or provide to the Executive the Accrued Benefits (other than the amount set forth in
Section 8(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 end due to a termination (x) by the Company other than for Cause or (y) by the Executive for Good Reason, then the Company shall pay or provide to the Executive the following: 

(i) the Accrued Benefits; and 

  
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 (ii) subject to the Executive’s continued compliance with the obligations in
Sections 9, 10 and 11 hereof, an amount equal to the product of (A) two (2), multiplied by (B) the sum of the Executive’s (I) Base Salary and (II) Target Bonus, paid monthly in accordance with the
Company’s payroll practices in effect on the date of termination for a period of twenty-four (24) months following such termination; 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. 

Payments and benefits provided in this Section 8(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. 

For the avoidance of doubt, in the event that the Executive dies while receiving payments or benefits under this Section 8(d), the remainder of
any amounts or benefits owed to the Executive shall be paid to his 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 8 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. 
 9. 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 substantially the form
attached hereto as Exhibit A. Such release shall be executed and delivered (and no longer subject to revocation, if applicable) within sixty (60) days following termination. 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. 

  
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 10. RESTRICTIVE COVENANTS. 

(a) CONFIDENTIALITY. During the course of the Executive’s employment and service with the Company, the Executive has had, and will
continue to 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, and includes, 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 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). 
 (i) Nothing in this Agreement shall prohibit or restrict
the Company, the Company’s affiliates, the Executive or their respective attorneys from: (A) making any disclosure of relevant and necessary information or documents in any action, investigation or proceeding relating to this Agreement, or
as required by law or legal process, including with respect to possible violations of law; (B) participating, cooperating or testifying in any action, investigation or proceeding with, or providing information to, any governmental agency or
legislative body, any self-regulatory organization and/or pursuant to the Sarbanes-Oxley Act; or (C) accepting any U.S. Securities and Exchange Commission awards. In addition, nothing in this Agreement prohibits or restricts the Company, the
Company’s affiliates or the Executive from initiating communications with, or responding to any inquiry from, any regulatory or supervisory authority regarding any good faith concerns about possible violations of law or regulation. 

(ii) Pursuant to 18 U.S.C. § 1833(b), the Executive will not be held criminally or civilly liable under any Federal or State trade secret
law for the disclosure of a trade secret of the Company or its affiliates that (A) is made (I) in confidence to a Federal, State or local government official, either directly or indirectly, or to the Executive’s 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 that is filed under seal in a lawsuit or other proceeding. If the Executive files a 

  
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 lawsuit for retaliation by the Company for reporting a suspected violation of law, the Executive may
disclose the trade secret to the Executive’s attorney and use the trade secret information in the court proceeding, if the Executive files any document containing the trade secret under seal and does not disclose the trade secret except under
court order. 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 such section. 

(b) NONCOMPETITION. 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 inevitable would 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 its affiliates, and (vi) the Executive has generated and will continue to generate goodwill for the Company Group and its affiliates 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 twenty-four (24) months thereafter, 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 (A) the
sale of pool, spa and related equipment and supplies and/or the service of swimming pools or (B) any other line of business in which the Company Group was engaged at any time during the twenty-four (24) months preceding the date of the
Executive’s termination of employment and service (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. Notwithstanding the foregoing, nothing herein shall prohibit the Executive from being 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. 

(c) NONSOLICITATION; NONINTERFERENCE. During the Executive’s employment or service with the Company Group and for a period of
twenty-four (24) months thereafter, 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 

  
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 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 10(c) while so employed or retained and for a period of twelve (12) months thereafter. Notwithstanding the foregoing, the provisions of this Section 10(c) shall not be violated by general advertising or solicitation
not specifically targeted at Company Group-related persons or entities. 
 (d) NONDISPARAGEMENT. Subject to Sections 10(a)(i)
and 10(a)(ii) hereof, the Executive agrees not to 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 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 (or any of its predecessors in
interest), 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 the Inventions 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), 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 “Inventions”). 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 will assign 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. 

  
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 (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, 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). 
 (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 10. 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,

  
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 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 10. 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 10. 
 (h) REFORMATION. If it is determined by a court of competent jurisdiction in any state that any restriction in
this Section 10 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. 
 (i) TOLLING. In the event of any violation of the provisions of this
Section 10 by the Executive, the Executive acknowledges and agrees that the post-termination restrictions contained in this Section 10 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 restriction period shall be tolled during any period of such violation. 

(j) SURVIVAL OF PROVISIONS. The obligations contained in these Sections 10 and 11 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. 

11. 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. The Company shall reimburse the Executive for any reasonable expenses he incurs in connection
with his cooperation under this provision. 

  
 11 

 12. 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 10 or 11 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 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 Sections 10 or 11 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. 

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
confirmed facsimile or electronic mail, (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 (or to the facsimile number) shown 

in the books and records of the Company. 

If to the Company: 

Leslie’s, Inc. 

2005 E. Indian School Road 

Phoenix, AZ 85016 

Attn.: Chairman of the Board 

With a copy, which shall not constitute notice, to: 

Kirkland & Ellis LLP 

601 Lexington Avenue 

New York, NY 10022 

Fax:                 (212) 446-6460 

Attention:        Joshua Kogan, P.C. 

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. 

  
 12 

 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 Delaware, 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 Delaware or the United States District Court for the District of Delaware 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 Delaware, the court of the United States of America for the District
of Delaware, 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 Delaware State court or, to the extent 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 Delaware. Except as provided in
Section 10(g) hereof, the parties acknowledge and agree that in connection with any dispute hereunder, each party shall pay all of its own costs and expenses, including, without limitation, its own legal fees and expenses. 

  
 13 

 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 Exhibit A hereto, 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 offer letter between the Executive and the Company dated December 19, 2019 and the Existing 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; ACKNOWLEDGEMENTS. 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. The Executive confirms that the
Executive has disclosed to the Company any and all agreements relating to the Executive’s prior employment or engagements that may affect the Executive’s eligibility to be employed by the Company or limit the manner in which the Executive
may be employed. Promptly following the Company’s request, the Executive agrees to sign an acknowledgement that the Executive has read and understands the Company’s rules of conduct that are included in the Company Handbook. 

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. 

(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. 

  
 14 

 (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. 
 (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] 

  
 15 

 EXECUTION VERSION 

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

 

			
	LESLIE’S, INC.

 
			
		
	By:	 	 /s/ Steven Weddell

			
	Name:	 	Steven Weddell
	Title:	 	CFO

  

			
	EXECUTIVE
	
	 /s/ Michael R. Egeck

	Michael R. Egeck

 EXHIBIT A 

GENERAL RELEASE 

I, Michael R. Egeck, in consideration of and subject to the performance by Leslie’s, Inc. (together with its affiliates, the
“Company”), of its obligations under Section 8 of the Amended and Restated Employment Agreement, dated as of October 19, 2020 (the “Agreement”), do hereby release and forever discharge as of the date
hereof the Company and all present, former and future directors, officers, agents, representatives, employees, successors and assigns of the Company and its direct or indirect owners (collectively, the “Released Parties”) to
the extent provided herein (this “General Release”). The Released Parties are intended third-party beneficiaries of this General Release, and this General Release may be enforced by each of them in accordance with the terms hereof
in respect of the rights granted to such Released Parties hereunder. Terms used herein but not otherwise defined shall have the meanings given to them in the Agreement. 

1. I understand that, other than the Accrued Benefits, the payments or benefits paid or granted to me under Section 8 of the Agreement represent, in part,
consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive the payments and benefits specified in Section 8 of the Agreement, other than
the Accrued Benefits, unless I execute this General Release and do not revoke this General Release within the time period permitted hereafter or breach this General Release. Such payments and benefits will not be considered compensation for purposes
of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its affiliates. 
 2. Except as provided
in paragraphs 4 and 5 below and 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 my heirs, executors, administrators and assigns)
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 on which I execute this General Release) and whether known or unknown,
suspected or claimed against the Company and/or any of the Released Parties, which I, my spouse or any of my heirs, executors, administrators or assigns ever had, now have, or hereafter may have, by reason of any matter, cause or thing whatsoever,
from the beginning of my initial dealings with the Company to the date on which I execute this General Release, and particularly, but without limitation of the foregoing general terms, any claims arising from or relating in any way to my employment
relationship with Company, the terms and conditions of that employment relationship, and the termination of that employment relationship (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; any applicable Executive Order Programs; the Fair Labor Standards Act; or their state or
local counterparts; or under any other federal, state or local civil or human 

  
 2 

 
rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising under any policies, practices
or procedures of the Company; 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”). I understand and intend that this General Release constitutes a general release of all claims and that no reference herein to a specific form of claim, statute or type
of relief is intended to limit the scope of this General Release. 
 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 agree that this General Release does not waive or release any rights or claims that I
may have under the Age Discrimination in Employment Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company in compliance with the terms of the Agreement
shall not serve as the basis for any claim or action (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). 
 5.
I agree that I hereby waive all rights to sue or obtain equitable, remedial or punitive relief from any or all Released Parties of any kind whatsoever, including, without limitation, reinstatement, back pay, front pay and any form of injunctive
relief. Notwithstanding the foregoing, I acknowledge that I am not waiving and am not being required to waive any right that cannot be waived under law, including the right to file an administrative charge or participate in an administrative
investigation or proceeding; provided, however, that I disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. 

6. 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 hereinabove mentioned or
implied. 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 or local
statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. 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 that I should bring a Claim seeking damages against the Company
or any Released Party, or in the event that I should seek to recover against the Company or any 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 to the
maximum extent permitted by law. I further agree that I am not aware of any pending claim, or of any facts that could give rise to a claim, of the type described in paragraph 2 as of the execution of this General Release. 

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 Released Party or myself of any improper or unlawful conduct. 

  
 3 

 8. I agree that I will forfeit all amounts payable by the Company pursuant to the Agreement if I challenge
the validity of this General Release. I also agree that if I violate this General Release by suing the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including
reasonable attorneys’ fees, and return all payments received by me pursuant to the Agreement on or after the termination of my employment. 
 9. I agree
that this General Release and the Agreement are confidential and agree not to disclose any information regarding the terms of this General Release or the Agreement, except to my immediate family and any tax, legal or other counsel that I have
consulted regarding the meaning or effect hereof or as required by law and except as provided in Sections 10(a)(i) and 10(a)(ii) of the Agreement, and I will instruct each of the foregoing not to disclose the same to anyone. 

10. Any non-disclosure provision in this General Release does not prohibit or restrict me (or my attorney) from responding to any inquiry about this General
Release or its underlying facts and circumstances by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), or any other self-regulatory organization or governmental entity. 

11. I hereby acknowledge that Sections 8, 9, 10, 11, 12, 13, 14, 16, 18, 19, 20, and 21 of the Agreement shall survive my execution of this General Release.

 12. I represent that I am not aware of any Claim by me, and I acknowledge that I may hereafter discover Claims or facts in addition to or different than
those which I now know or believe to exist with respect to the subject matter of the release set forth in paragraph 2 above and which, if known or suspected at the time of entering into this General Release, may have materially affected this General
Release and my decision to enter into it. 
 13. Notwithstanding anything in this General Release to the contrary, this General Release shall not relinquish,
diminish, or in any way affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof. 

14. 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. This General Release constitutes the complete and entire
agreement and understanding among the parties, and supersedes any and all prior or contemporaneous agreements, commitments, understandings or arrangements, whether written or oral, between or among any of the parties, in each case concerning the
subject matter hereof. 

  
 4 

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

 

	 	1.	 I HAVE READ IT CAREFULLY; 

 

	 	2.	 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, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED, THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990, AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
OF 1974, AS AMENDED; 

  

	 	3.	 I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

 

	 	4.	 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; 

  

	 	5.	 I HAVE HAD AT LEAST [TWENTY-ONE (21)][FORTY-FIVE (45)] DAYS FROM THE DATE OF MY RECEIPT OF
THIS GENERAL RELEASE TO CONSIDER IT AND THE CHANGES MADE SINCE MY RECEIPT OF THIS GENERAL RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST AND WILL NOT RESTART THE REQUIRED [TWENTY-ONE (21)][FORTY-FIVE (45)]-DAY PERIOD;

  

	 	6.	 I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS GENERAL RELEASE TO REVOKE IT AND THAT
THIS GENERAL RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 

  

	 	7.	 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 

  

	 	8.	 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. 

  

			
	SIGNED:                                     
                                         
      	  	DATE:                                     
                                         
  

  
 5EX-10.6

 Exhibit 10.6 

Execution Copy 
 Confidential 

SUCCESSION AGREEMENT 

This Succession Agreement (this “Agreement”) is made and entered into by and among Leslie’s Poolmart, Inc. (“LPM”),
Leslie’s, Inc. (f/k/a Leslie’s Holdings, Inc.) (the “Company” and, together with LPM, the “Companies”) and Steven L. Ortega (“Mr. Ortega”) on October 20, 2020 (“Execution Date”), but shall
be effective as of the date of consummation of the Company’s initial public offering (“IPO”) pursuant to its filed Registration Statement on Form S-1 (File
No. 333-249372) (the “Effective Date”). If the Effective Date does not occur for any or no reason, this Agreement shall be null and void ab initio, and the Employment Agreement (as
defined below) shall remain in full force and effect in accordance with its terms. 
 RECITALS 

WHEREAS, the Companies and Mr. Ortega are parties to that certain Amended and Restated Employment Agreement, dated and effective as of
October 1, 2019 (the “Employment Agreement”), pursuant to which Mr. Ortega was employed as the Executive Chairman of the Companies, after previously serving as the Chief Executive Officer of the Companies and prior thereto as
Chief Financial Officer of the Companies. 
 WHEREAS, as a result of the Company’s anticipated IPO, the Board of Directors of the
Company (the “Board”) and Mr. Ortega have mutually agreed that a further succession and transition in his roles and responsibilities with the Companies would be in their mutual best interests upon the Company becoming a
publicly-traded company on the Effective Date. 
 WHEREAS, by letter agreement dated October 5, 2020, the Company and Mr. Ortega
mutually amended the Employment Agreement to change Mr. Ortega’s title from “Executive Chairman” to “Chairman” as of October 8, 2020. 

WHEREAS, in accordance with Mr. Ortega’s mutually agreed upon succession and transition as described in this Agreement, the
Companies and Mr. Ortega have agreed that (i) the Employment Agreement and Mr. Ortega’s employment thereunder will automatically terminate on the Effective Date, and such termination of employment will constitute a
“separation from service” within the meaning of Section 409A (as defined below); (ii) Mr. Ortega will continue to serve on the Board as a non-employee director from and after the Effective
Date, for an initial term set to expire at the Company’s 2023 annual meeting of stockholders; (iii) Mr. Ortega will continue to serve as non-employee Chairman of the Board from and after the
Effective Date, for an initial term set to expire at the Company’s 2021 annual meeting of stockholders; and (iv) in consideration of terminating the Employment Agreement and Mr. Ortega changing his roles and responsibilities with the
Companies as described in this Agreement, to facilitate Mr. Ortega’s succession and transition to such new roles and responsibilities and to reward Mr. Ortega for his outstanding contributions to the Company’s success,
Mr. Ortega will be paid his severance payments and other benefits due under Section 5(c) of the Employment Agreement (subject to the agreed upon modifications described herein), on the basis that his termination of employment and
transition to serving as a non-employee director on the Board will constitute a termination of the Employment Agreement by the Company without Cause (as defined in the Employment Agreement) as of the Effective
Date (such payments and other benefits, collectively, the “Succession Payments”). 

 WHEREAS, as a result of the above, the Companies and Mr. Ortega desire to enter into
this Agreement on the terms and conditions set forth below. 
 NOW THEREFORE, on the basis of the foregoing premises and in consideration of
the mutual covenants and agreements contained herein, the parties hereto agree as follows: 
 1. Termination of Employment Agreement.
Effective automatically, and without further deed or action by any party, on the Effective Date, the Employment Agreement will terminate and will be replaced in its entirety by this Agreement. In connection with such termination, Mr. Ortega
shall receive from the Company, in full and final satisfaction of any and all of his entitlements under the Employment Agreement, the Succession Payments payable to Mr. Ortega under Section 5(c) of the Employment Agreement (subject to the
agreed upon modifications set forth herein and further set forth and described on Exhibit A), as follows: (a) the amounts and benefits specified in Section 5(c)(i) of the Employment Agreement will be paid and provided in accordance
with Section 5(a) of the Employment Agreement; (b) the lump sum payment due pursuant to Section 5(c)(ii) of the Employment Agreement, as well as the payment provided in lieu of the outplacement benefits due pursuant to
Section 5(c)(iv) of the Employment Agreement, will be paid within fourteen (14) days after the Effective Date; and (c) in lieu of the COBRA premium reimbursements due under Section 5(c)(iii) of the Employment Agreement, the
opportunity for continued participation in the Companies’ health plans will be provided in accordance with Section 2(b) below. For the avoidance of doubt, in the event of any conflict between this Agreement and the Employment Agreement as
it pertains to the Succession Payments or any other matters, this Agreement will govern and control. 
 2. Director Position. Prior
to the Effective Date, Mr. Ortega will be appointed by the Board to serve as a Class III director on the Board, for an initial term that will commence on the Effective Date and expire at the Company’s 2023 annual meeting of
stockholders, and in all events subject to the terms and conditions of the Company’s Certificate of Incorporation and Bylaws and Delaware General Corporate Law. During his tenure as a member of the Board, (a) Mr. Ortega will receive
compensation from the Company in such amounts and types, at such times and subject to such terms and conditions, in each case, as other non-employee directors serving on the Board; and
(b) Mr. Ortega, his spouse and his eligible dependents will continue to be eligible to participate in any medical, dental, vision plans or policies otherwise then generally made available by the Company to its executives, provided,
that, Mr. Ortega pays the same portion of the premiums and related deductibles and copays required under the plan in connection with such participation as paid by other actively-employed executives of the Companies, all of which are subject to
change at least annually. 
 3. Chairman Position. The parties hereto agree that Mr. Ortega will serve as the non-employee Chairman of the Board, (a) for an initial term that will commence on the Effective Date and expire at the Company’s 2021 annual meeting of stockholders, and in all events subject to the terms
and conditions of the Company’s Certificate of Incorporation and Bylaws and Delaware General Corporate Law, and (b) with the duties and responsibilities associated with such position as set forth in the Company’s Bylaws, any
applicable corporate governance policy or guidelines that may be adopted by the Board or as otherwise reasonably requested by the Board consistent with such position. During his tenure in such capacity, Mr. Ortega will receive compensation from
the Company in such amounts and types, at such times and subject to such terms and conditions, in each case, as established by the Company for the non-employee Chairman of the Board. 

  
 2 

 4. IPO Stock Option Grant. In addition to the compensation set forth in Sections 2
and 3 above, on the Effective Date, the Company will grant Mr. Ortega an initial stock option grant (the “IPO Grant”), pursuant to which Mr. Ortega will have the option to purchase such number of shares of common stock of
the Company as determined by the Board. For purposes of the IPO Grant, the per share exercise price will equal the Company’s IPO per share offering price. The IPO Grant will vest in accordance with the terms set forth in the governing award
agreement and the Company’s omnibus incentive plan. For the avoidance of doubt, unless otherwise determined by the Board in its sole discretion, the IPO Grant is the only incentive equity grant that Mr. Ortega will receive for the first
year following the Effective Date. 
 5. Repayment of Promissory Note. On the Effective Date, the then outstanding balance of
principal and accrued interest on Mr. Ortega’s Secured Recourse Promissory Note, dated April 21, 2017, payable to Bubbles Holdings, L.P., in the original principal amount of $3,000,000 (“Promissory Note”), will be repaid in
full by Mr. Ortega pursuant to the separate notice dated as of October 13, 2020 (Notice of Investor Put Right Exercise), and upon such repayment, the Promissory Note and the related Unit Purchase Agreement, dated as of April 21, 2017,
will be terminated and cancelled, with all liens and security interests fully released thereunder. 
 6. Confidentiality and Trade
Secrets. Mr. Ortega recognizes that he will continue have access to trade secrets and proprietary information (the “Company Information”) of the Company and any affiliate thereof (a “Company Affiliate”) during his term
as a member of the Board, and he recognizes that should such information be revealed to a competitor, the Company would be materially damaged in an amount difficult to calculate. Except in the performance of his duties to the Company,
Mr. Ortega shall not, during his term as a member of the Board and at all times thereafter, directly or indirectly for any reason whatsoever, disclose or use any such Company Information. All records, files, drawings, documents, equipment and
other tangible items, wherever located, relating in any way to or containing Company Information, which Mr. Ortega has prepared, used or encountered or shall in the future prepare, use or encounter, shall be and remain the Company’s sole
and exclusive property and shall constitute Company Information. Upon the expiration of his term as a member of the Board, or whenever requested by the Company, Mr. Ortega shall promptly deliver to the Company any and all Company Information
and copies thereof, not previously delivered to the Company, that may be in the possession or under the control of Mr. Ortega. The foregoing restrictions shall not apply to the use, divulgence, disclosure or grant of access to Company
Information to the extent, but only to the extent, (x) expressly permitted or required pursuant to any other written agreement between Mr. Ortega and the Company (and/or Company Affiliates); (y) such Company Information which has become
publicly known and made generally available through no wrongful act of Mr. Ortega or of others who were under confidentiality obligations as to the item or items involved; or (z) Mr. Ortega is required to disclose Company Information
by or to any court of competent jurisdiction or any governmental or quasi-governmental agency, authority or instrumentality of competent jurisdiction; provided, that Mr. Ortega shall, prior to any such disclosure, immediately notify the Company
of such requirement; and provided, further, that the Company shall have the right, at its expense, to object to such disclosures and to seek confidential treatment of any Company Information to be so disclosed on such terms as it shall determine.

  
 3 

 (a) Nothing in this Agreement shall prohibit or restrict the Company, any
Company Affiliate, Mr. Ortega or their respective attorneys from: (i) making any disclosure of relevant and necessary information or documents in any action, investigation or proceeding relating to this Agreement, or as required by law or
legal process, including with respect to possible violations of law; (ii) participating, cooperating or testifying in any action, investigation or proceeding with, or providing information to, any governmental agency or legislative body, any
self-regulatory organization and/or pursuant to the Sarbanes-Oxley Act; or (iii) accepting any Securities and Exchange Commission awards. In addition, nothing in this Agreement prohibits or restricts the Company, any Company Affiliate or
Mr. Ortega from initiating communications with, or responding to any inquiry from, any regulatory or supervisory authority regarding any good faith concerns about possible violations of law or regulation. 

(b) Pursuant to 18 U.S.C. § 1833(b), Mr. Ortega will not be held criminally or civilly liable under any Federal or
State trade secret law for the disclosure of a trade secret of the Company or any Company Affiliate that (i) is made (A) in confidence to a Federal, State or local government official, either directly or indirectly, or to
Mr. Ortega’s attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. If
Mr. Ortega files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Mr. Ortega may disclose the trade secret to Mr. Ortega’s attorney and use the trade secret information in the court proceeding,
if Mr. Ortega files any document containing the trade secret under seal and does not disclose the trade secret except under court order. 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 such section. 
 7. Return of All the Company’s Property and
Documents. Upon the termination of Mr. Ortega’s term as a member of the Board, Mr. Ortega immediately will return to the Company all property of the Company, including, without limitation, all documents and information, however
maintained (including computer files, tapes and recordings), concerning the Company or acquired by Mr. Ortega in the course and scope of his prior employment and his membership on the Board (excluding only those documents relating to
Mr. Ortega’s own compensation and benefits), any laptop computer, keys, access cards or credit cards. 
 8.
Noninterference. 
 (a) Mr. Ortega agrees that, during Mr. Ortega’s term as a member of the Board and
for two (2) years subsequent to termination of Mr. Ortega’s term as a member of the Board for any reason (the “Non-Compete Term”), Mr. Ortega shall not: 

(i) Either directly or indirectly, for himself or on behalf of, or in conjunction with, any other person, persons, company,
firm, partnership, 

  
 4 

 
corporation, business, group or other entity (each, a “Person”), engage in any Competing Business, whether as an employee, consultant, partner, principal, agent, representative,
stockholder or other individual, corporate or representative capacity, or render any services or provide any advice or substantial assistance to any such Person that engages in a Competing Business. “Competing Businesses” shall include any
business which derives material revenue from the sale of swimming pool products or the service of swimming pools. 
 (ii)
Either directly or indirectly, for himself or on behalf of, or in conjunction with, any other Person, solicit, hire or divert any Person who is, or who was at the time of termination of Mr. Ortega’s term as a member of the Board, or has
been within six (6) months prior to the time of termination of Mr. Ortega’s term as a member of the Board, an employee of the Company or any Company Affiliate for the purpose or with the intent of enticing such employee away from the
employ of the Company or any Company Affiliate. 
 (iii) Either directly or indirectly, for himself or on behalf of, or in
conjunction with, any other Person, solicit, hire or divert any Person who is, or who was at the time of termination of Mr. Ortega’s term as a member of the Board, or has been within six (6) months prior to the time of termination of
Mr. Ortega’s term as a member of the Board, a customer or supplier of the Company or any Company Affiliate for the purpose or with the intent of (A) inducing or attempting to induce such Person to cease doing business with the Company
or any Company Affiliate or (B) in any way interfering with the relationship between such Person and the Company or any Company Affiliate. 

(b) The covenants in this Section 8 are severable and separate, and the unenforceability of any specific covenant shall
not affect the provisions of any other covenant. Moreover, in the event any court of competent jurisdiction shall determine that the scope, time or territorial restrictions set forth herein are unreasonable, then it is the intention of the parties
that such restrictions be enforced to the fullest extent that such court deems reasonable, and this Agreement shall thereby be reformed to reflect the same. 

(c) All of the covenants in this Section 8 shall be construed as an agreement independent of any other provision in this
Agreement, and the existence of any claim or cause of action of Mr. Ortega against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of such covenants. It is
specifically agreed that the period following the termination of Mr. Ortega’s term as a member of the Board, during which the agreements and covenants of Mr. Ortega made in this Section 8 shall be effective, shall be computed by
excluding from such computation any time during which Mr. Ortega is in violation of any provision of this Section 8. 

(d) Notwithstanding any of the foregoing, if any applicable law, judicial ruling or order shall reduce the time period during
which Mr. Ortega shall be prohibited from engaging in any competitive activity described in this Section 8, then the period of time for which Mr. Ortega shall be prohibited pursuant to this Section 8 shall be the maximum time
permitted by law. 

  
 5 

 9. Arbitration. Mr. Ortega and the Companies agree that any and all disputes,
controversies or claims arising out of or related to this Agreement or its breach, including without limitation, disputes, claims or controversies concerning the validity of this Agreement, in whole or in part, shall be determined exclusively by
final and binding arbitration before a single arbitrator in Phoenix, Arizona administered by JAMS pursuant to its Employment Arbitration Rules & Procedures and subject to JAMS Policy on Employment Arbitration Minimum Standards of Procedural
Fairness, and that judgment upon the award of the arbitrator may be rendered in any court of competent jurisdiction. The arbitrator shall be selected from a list of arbitrators provided by JAMS with substantial professional experience in employment
matters. The Company will pay all administration fees associated with the arbitration and the cost of arbitrator, it being the parties’ intention that Mr. Ortega not bear any costs that he would not be required to bear in a court
proceeding. 
 The arbitrator’s authority and jurisdiction shall be limited to determining the dispute in arbitration in conformity with law, to the
same extent as if such dispute were to be determined as to liability and remedy by a court without a jury. The arbitrator shall render an award that shall include a written statement of opinion setting forth the arbitrator’s findings of fact
and conclusions of law. The Company and Mr. Ortega expressly waive all rights to a jury trial in court on all statutory or other claims. 

10. Indemnification; D&O Insurance. Mr. Ortega shall be provided with an indemnification agreement on the same terms as the
Company’s other directors and shall be covered as an officer and director under any directors’ and officers’ liability insurance policy maintained from time to time by the Company or by any Company Affiliate for the benefit of the
directors of the Company. 
 11. Assignability; Third Party Beneficiary. 

(a) In the event either of the Companies shall merge or consolidate with, or be sold to, any other partnership, limited
liability company, corporation or business entity or all or substantially all of either of the Companies’ business or assets shall be transferred in any manner to any other partnership, limited liability company, corporation or business entity,
such successor shall thereupon succeed to, and be subject to, all rights, interests, duties, obligations of, and shall thereafter be deemed for all purposes hereof to be, the applicable Company hereunder. 

(b) This Agreement is personal in nature and none of the parties hereto shall, without the written consent of the other, assign
or transfer this Agreement or any rights or obligations hereunder, except by operation of law or pursuant to the terms of Section 11(a) above. 

Nothing expressed or implied herein is intended or shall be construed to confer upon or give to any Person, other than the parties hereto, any right, remedy
or claim under or by reason of this Agreement or of any term, covenant or condition hereof 

  
 6 

 12. Governing Law. This Agreement was negotiated, executed and delivered within the
State of Delaware, and the rights and obligations of the parties shall be construed, enforced and governed by the laws of the State of Delaware. 

13. Notice. Any written notice or other document required or permitted to be given under this Agreement, including payments, shall be
personally delivered or mailed, by certified mail or by first class U.S. mail, if to Mr. Ortega, to his residential address on file at the Company and, if to either of the Companies, to its corporate headquarters, attention General Counsel.
Notice shall be deemed to have been given immediately upon personal delivery or on the third business day following placement in the U.S. mail in the continental United States (or on the fifth business day if placed in the U.S. mail elsewhere in the
United States) as specified above. 
 14. Successors. Any payments and benefits due to Mr. Ortega under this Agreement that have
not been made to Mr. Ortega at the time of Mr. Ortega’s death will be made to his surviving spouse or, if none, to his estate. This Agreement will inure to the benefit of, and be enforceable by, the Companies and their successors and
Mr. Ortega and his beneficiaries, administrators and executors. 
 15. Survival of Obligations. Provisions of this Agreement
imposing obligations that, by character, design or otherwise, must be or can be discharged following termination of Mr. Ortega’s term as a member of the Board will remain in effect after the end of Mr. Ortega’s term as a member
of the Board until all such obligations are discharged. 
 16. Counterparts. This Agreement may be executed in counterparts, which
may be delivered by any electronic means. When each party has signed and delivered at least one such counterpart, each counterpart shall be deemed an original, and, when taken together with other signed counterparts, shall constitute one Agreement
which shall be binding upon and effective as to all parties. No counterpart shall be effective until all parties hereto have executed and exchanged an executed counterpart hereof. 

17. No Waiver. A party’s failure to enforce any provision or provisions of this Agreement will not prevent that party thereafter
from enforcing each and every other provision of this Agreement. 
 18. Partial Invalidity. The invalidity or unenforceability of any
provision or portion of this Agreement will not affect the validity or enforceability of the other provisions or portions of this Agreement. 

19. Entire Agreement. This Agreement constitutes a single integrated contract expressing the entire agreement of the parties with
respect to the subject matter hereof and, on the Effective Date, supersedes all prior and contemporaneous oral and/or written agreements, including the Employment Agreement (as amended). Other than as described in this Agreement, there are no other
agreements, written or oral, expressed or implied, between the parties hereto concerning the subject matter hereof. This Agreement may be modified or amended only by an agreement in writing signed by the parties. 

20. Representations and Warranties. The Companies represent and warrant to Mr. Ortega that this Agreement has been approved by the
Board. Mr. Ortega represents and warrants 

  
 7 

 
to the Companies that the execution and performance of this Agreement do not and will not conflict with, violate or give rise to any liability on the part of Mr. Ortega or the Companies
under any agreement or policy to which Mr. Ortega is subject or bound. 
 21. Mr. Ortega’s Legal Fees. Within thirty
(30) days of the Execution Date, the Company shall pay for all of the legal fees reasonably incurred by Mr. Ortega in connection with the preparation and negotiation of this Agreement, subject to Mr. Ortega’s provision of
documentation of such legal fees that is reasonably satisfactory to the Company. 
 22. Section 409A Compliance. 

(a) To the extent applicable, the intent of the parties is that payments and benefits under this Agreement be exempt from or,
in the alternative, comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively, “Section 409A”), and accordingly, to the maximum extent permitted, this Agreement shall be
interpreted to be in compliance therewith or exempt therefrom. To the extent that any provision hereof is modified in order to comply with 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 Mr. Ortega and the Companies of the applicable provision without violating the provisions of Section 409A. In no event whatsoever shall the Companies be liable for any
additional tax, interest or penalty that may be imposed on Mr. Ortega by Section 409A or damages for failing to comply with Section 409A. 

(b) A termination of the Employment Agreement 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 Section 409A, and, for purposes of any such
provision of this Agreement, references to a “termination,” “termination of the Employment Agreement” or like terms shall mean “separation from service.” Notwithstanding anything to the contrary in this Agreement, if
Mr. Ortega is deemed on the date of termination to be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered
“nonqualified deferred compensation” under 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 (i) the expiration
of the six (6)-month period measured from the date of such “separation from service” of Mr. Ortega, and (ii) the date of Mr. Ortega’s death, to the extent required under Section 409A. Upon the expiration of the
foregoing delay period, all payments and benefits delayed pursuant to this Section 22(b) (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
Mr. Ortega 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. 

(c) To the extent that reimbursements or other in-kind benefits under this Agreement
constitute “nonqualified deferred compensation” for purposes of Section 

  
 8 

 
409A, (i) 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
Mr. Ortega; (ii) any right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit; and (iii) 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. 
 (d) For purposes of Section 409A, Mr. Ortega’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. 
 (e) 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 Section 409A be subject to offset by any other amount unless otherwise
permitted by Section 409A. 
 [signature page follows] 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the
Execution Date. 
  

			
	LESLIE’S POOLMART, INC.
		
	By:	 	 /s/ Michael R. Egeck

		 	Michael R. Egeck
		 	Chief Executive Officer
	
	LESLIE’S, INC.
		
	By:	 	 /s/ Michael R. Egeck

		 	Michael R. Egeck
		 	Chief Executive Officer
	
	MR. ORTEGA
	
	 /s/ Steven L. Ortega

	Steven L. Ortega

 [Signature page to Succession Agreement]

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