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EXHIBIT 10.5

EXECUTIVE CONSULTING AGREEMENT
(the "Agreement")

between

Melody Harris-Jensbach,   an  individual,  with  a  place  of  residence  of  Brabanter  Straße  39,  50672    Köln, Germany,

- hereinafter referred to as "the Consultant" -

and

SKYRAGER GmbH, a limited liability company under the laws of Germany, Jack-Wolfskin-Kreisel 1, 65510 Idstein, Germany,

- hereinafter referred to as "JACK WOLFSKIN" -

- The Consultant and JACK WOLFSKIN hereinafter referred to collectively as the "Parties" 
and each individually as the  "Party"-

Recitals:
Whereas; JACK WOLFSKIN is a successful outdoor brand that designs, manufactures and sells high quality articles of outdoor apparel, footwear and equipment that are internationally  distributed  under  the  well known trademarks  "Jack Wolfskin"  and the paw device  mark (the "Trademark");   .

Whereas; the Consultant is the former Chief Executive Officer and Managing Director of JACK WOLFSKIN and has expertise in the outdoor apparel, footwear and equipment industry and, more specifically, expertise in the Operation of the JACK WOLFSKIN business;

Whereas; Consultant has resigned as Chief Executive Officer and Managing Director, and as a director and officer of all subsidiaries and affiliates of JACK WOLFSKIN, effective as of December 31, 2020 (the "Resignation Date");

Whereas; JACK WOLFSKIN recently hired a new Chief Executive Officer (the "Successor CEO");

Whereas; Consultant has resigned as Chief Executive Officer and Managing Director, and as a director and officer of all subsidiaries and affiliates of JACK WOLFSKIN, effective as of 31 December 2020 (the "Resignation Date");

Whereas; As of the Resignation Date, the Managing Director Agreement dated as of 9 September 2014 between Melody Harris-Jensbach and JACK WOLFSKIN as amended (collectively, the "Managing Director Agreement"),  shall terminate;

Whereas; JACK WOLFSKIN desires to retain access to the services of Consultant and believes that the experience and expertise of Consultant will be of benefit to JACK WOLFSKIN; therefore, JACK WOLFSKIN desires to enter into this Agreement  with Consultant;  and

Whereas; Consultant wishes to assist JACK WOLFSKIN by consulting on issues related to the transition of the business to the Successor CEO and to provide certain ongoing services and expertise to JACK WOLFSKIN, as more particularly  set forth  in this Agreement .

Now, therefore, the Parties hereby agree to the foregoing Recitals and to the below, as follows:

1.    Services
1.1    JACK WOLFSKIN hereby engages the Consultant as Executive Consultant to the Successor CEO and, as the case may be, other executives of companies affiliated with JACK WOLFSKIN and Consultant hereby accepts such engagement, for the 

services described in this Agreement and in Annex 1(collectively, the "Services") during the Term of this Agreement (as defined below). The exact scope of the Services is subject to a prior mutual agreement of the parties in each case. The Consultant is not subject to any instructions by JACK WOLFSKIN, its Authorized Representatives or its employees when performing the Services. Upon JACK WOLFSKIN's request and mutual agreement between the Parties, the Consultant shall render additional services regarding further projects

1.2    During the Term of this Agreement, Consultant shall provide the Services on matters related to the business of JACK WOLFSKIN as may be requested by JACK WOLFSKIN and as agreed with the Consultant from time to time. Consultant shall maintain contact with JACK WOLFSKIN through Joe Flannery, Executive Vice President of Apparel and Soft Goods, Callaway Golf Company, JACK WOLFSKIN's ultimate parent company, or such person or persons as may be designated by Mr. Flannery from time to time (each, an "Authorized Representative").

1.3    Consultant represents that Consultant has the qualifications and ability to perform the Services in a professional manner without the advice, control, or supervision of JACK WOLFSKIN. While the specific methods and manner of providing the Services shall be solely determined  by Consultant, the Parties shall agree on the general extent, nature and scope of Services to be performed by Consultant  under this Agreement. Place and time of rendering the Services is the sole choice of the Consultant provided, however, that  Consultant  shall  make  herself  readily  and  reasonably  available  (via  email, telephone, video conferencing and/or in person at mutually acceptable times) to provide the Services contemplated by this Agreement.

1.4    In  rendering  the  Services under  this  Agreement,   Consultant   shall   conform   to   high  professional Standards  of work  and  business  ethics. Consultant  shall  not  use time,  materials,  or equipment  of the Company  without  the  prior  written  consent  of  an  Authorized   Representative.   In  no  event  shall Consultant  take  any action or accept  any assistance  or engage  in any  activity that  would  result in any other  individual  or  entity  or  other  person  acquiring  any  rights ·of  any  nature  in the  results  of  work performed by or for the JACK WOLFSKIN.

1.5    The Consultant shall have no right to enter into agreements on behalf of JACK WOLFSKIN or to otherwise legally bind JACK WOLFSKIN or take any other actions regarding the activities of JACK WOLFSKIN except upon a specific written request made by an Authorized Representative ("Requested Actions").

1.6    Nothing contained in this Agreement shall be construed to create an employer/employee, joint venture, partnership, or principal-agent relationship between the Parties. The relationship between the Parties is that of independent contractors. Especially, the Consultant is not bound to any instructions of JACK WOLFSKIN and is .not entitled to give instructions to the employees of JACK WOLFSKIN. The Consultant is solely responsible for her own tax and/or social security  matters relating to  any fees  earned  from JACK WOLFSKIN pursuant to this Agreement.

1.7    During the Term, Consultant agrees, upon JACK . WOLFSKIN's request, to reasonably cooperate in any JACK WOLFSKIN investigation, litigation, arbitration, or regulatory proceeding regarding events that occurred during CONSULTANT's tenure as executive consultant with JACK WOLFSKIN. Consultant will make herself reasonably available to consult with JACK WOLFSKIN's counsel, to  provide information, and to appear, if requested, to give testimony .JACK WOLFSKIN will, to the extent permitted by law and applicable court rules, reimburse Consultant for reasonable out-of-pocket expenses (including, without limitation, reasonable attorneys' fees and costs) Consultant incurs in extending such cooperation, so long as Consultant provides advance written notice of Consultant's request for reimbursement and provides reasonably satisfactory documentation of the expenses. JACK WOLFSKIN shall, upon request of the Consultant, provide the Consultant with a reasonable advance notice with regard to expected expenses of the Consultant.

1.8    In the event that during the Term of this Agreement Consultant desires to (i) perform services  on a freelance, dependent, consulting, or any other basis or (ii) form, acquire or directly or indirectly participate in (each unless her shareholding does not enable her to exert influence over the governing bodies of the company in question), for any of the companies listed in Annex 2 to this Agreement or for any other company that is in direct or indirect competition with JACK WOLFSKIN, Consultant shall provide advance notice to JACK WOLFSKIN of such desire, and JACK WOLFSKIN may, on a case-by-case basis,  either  (i)  elect  to  continue  this  Agreement  and  allow  Consultant  to  perform  services  for the specified company, or (ii) immediately terminate this Agreement .The non-compete covenant shall also apply to the benefit of affiliates of JACK WOLFSKIN. Any exception to the foregoing must be with the prior written consent of JACK WOLFSKIN at JACK WOLFSKIN's sole and free discretion. For the avoidance of doubt, a breach of the Consultant's obligation as set forth in Section 1.8 builds grounds for an  extraordinary  termination  of this Agreement.

1.9    Consultant will comply with regulations which govern her activities under this Agreement and her business, including but not limited.to applicable antitrust laws and the United States Foreign Corrupt Practices Act. Consultant shall also abide by all 

United States, United Nations and any other applicable foreign trade sanctions and restrictions and shall also not import or export any goods in violation or contravention of such sanctions.

1.10    Consultant   agrees   not   to   divulge   or   disclose   any   proprietary   information   of   JACK   WOLFSKIN ("Proprietary  Information"} to any other party except in accordance with guidelines established  by JACK WOLFSKIN  governing any such disclosures,  and further  agrees to  use the  Proprietary  Information only during the Term and only in a manner which  is consistent with the  purposes of this Agreement.  In the event   that Consultant believes that Consultant is legally required   to   disclose   any   Proprietary Information,  Consultant  shall  give  reasonable   notice to JACK  WOLFSKIN prior  to  disclosing  such information to  a third  party and,  upon request  by JACK  WOLFSKIN,  shall take  such  legally  permissible steps as are reasonably necessary to protect such Proprietary Information, including, but not limited to, seeking  orders  from  a  court  of  competent  jurisdiction  preventing  disclosure  or  limiting disclosure  of such information beyond that which  is legally required. To the extent  permitted by law and applicable court rules, JACK WOLFSKIN  undertakes to reimburse Consultant for reasonable out-of-pocket expenses (including, without  limitation, reasonable attorneys' fees and costs) Consultant  incurs in relation to her obligations under this cl. 1.10, so long as Consultant  provides written  notice of Consultant's request for reimbursement  and provides  reasonably satisfactory  documentation  of the expenses. JACK  WOLFSKIN shall, upon request of the Consultant, provide the Consultant with a reasonable advance with regard to expected expenses of the Consultant.

2.    Time Commitment and Additional Services
2.1    The  Parties  anticipate  the  time  commitment  of the  Consultant  for  rendering the  services  under  this agreement  at  up to  2,5  working  days  (working  day  equivalent  to  eight  working  hours)  on  average  in each  month with  a  total  of  30 working  days  for  the  term  of this  Agreement  ("Service  days").  Upon request of Jack Wolfskin, the Consultant undertakes to provide reasonably detailed time sheets to JACK WOLFSKIN.  The  time  commitment  stated  in this  cl.  2.1 may  be  provided  in such  time  increments  as mutually  agreed  by the  parties,  provided that  such  increments  do  not exceed,  in total,  20  hours  per month.

2.2     The Parties may mutually agree in writing that the Consultant should commit time to render the Services in excess of the time commitment set forth in cl. 2.1. ("Additional Service Days").

3.    [Reserved]

4.    Consideration, Expenses
4.1    In consideration of the Services during the term hereof and the assignment and transfer of IP-Rights, the Consultant shall be entitled to an annual flat rate fee of € 100,000 payable in monthly installments (the "Consideration") . In the event that this Agreement is terminated early by the Company pursuant to cl: 1.8 above, or cl. 9.2 or cl. 9.4 below, the obligation of Company to pay Consultant Consideration under this Agreement shall concurrently terminate. Subject to the foregoing sentence, the Consideration covers the Service Days and shall be paid irrespective of whether JACK WOLFSK[N has requested the Services of the Consultant in a respective month or not. For any Additional Service Day (8h working hour basis) the Consultant shall be entitled to an additional fee of € 3,500 payable with the monthly instalment of the month in which Additional Service Days have occurred.

4.2    The Consultant shall be obliged to invoice the Consideration and any further fees to the Company no later than on the 5th of the calendar month following the calendar month of the provision of the Services. The Consultant's invoice must show the VAT amount, if applicable, and shall sufficiently document the Services provided.

4.3    The Parties agree that the final monthly instalment that is due and payable at the end of the calendar month December 2021, shall qualify as consideration for the transfer  of any  and all  IP-Rights as set forth  in Section 5 of the Agreement. The Consideration covers all claims of the Consultant with regard to the Services and the transfer of IP-Rights, unless specifically stated otherwise in this Agreement. The Parties acknowledge, that the Consideration allocated to the transfer of IP-Rights is subject to withholding tax.

4.4    VAT, if applicable, will be paid additionally. Consultant acknowledges and agrees that, as an independent contractor, Consultant is solely responsible for the payment of any taxes and/or assessments imposed on her personally on account of the payment of fees pursuant to this Agreement. JACK WOLFSKIN shall not, by reason of Consultant's status as an independent contractor and the representations contained herein, make any withholdings or payments of said taxes or assessments with respect to fees paid hereunder, provided, however, that if required by law or any governmental agency of competent jurisdiction, JACK WOLFSKIN shall withhold any such taxes or assessments from the fees due Consultant, and any such withholding shall be for Consultant's account and shall not be reimbursed by JACK WOLFSKIN to Consultant.

4.5    In addition to the Consideration, JACK WOLFSKIN shall reimburse Consultant for all reasonable, customary expenses for travel, lodging and materials incurred in the performance of the Services to be provided hereunder. On a monthly basis, consultant shall account for such expenses by submitting a signed invoice itemizing such expenses and attaching copies of receipts. To the extent feasible, Jack Wolfskin will arrange travel bookings.

5.    lntellectual Property Rights.
5.1    The Parties agree that, to the greatest extent possible, all rights and claims in and to all work performed- including. the results thereof (referred to collectively as the "Work Results") shall be owned by. JACK WOLFSKIN. The Consultant hereby transfers to JACK WOLFSKIN all present and future transferable ownership rights and claims in and to the Work Results, as of the time when such rights are or will be created, so that JACK WOLFSKIN becomes the owner of all such Work Results immediately upon their creation without an- additional transfer needed  (Direkterwerb).  This  shall  include  without  limitation any registered or unregistered patents, inventions, suggestions for technical improvements (technische Verbesserungsvorschläge), utility models (Gebrauchsmuster) and design patents (Geschmacksmuster/Designs), trademarks and other trade  names,  copyrights  (including software  and its documented  and  machine-readable  source  code)  as well  as  database  rights, ancillary  copyrights (Leistungsschutzrechte),  internet  domain  names,  know-how  (regardless  of  whether it falls under the Trade Secret Act (Gesetz zum Schutz von Geschäftsgeheimnissen - GeschGehG) or similar laws) and any other intellectual property rights of any kind, including any rights of use and exploitation, all pecuniary rights (vermögensrechtliche Befugnisse), all expectant  rights (Anwartschaftsrechte), as well as any  rights to or arising from registrations in relation to any of the aforementioned intellectual property rights (collectively, "lntellectual Property Rights"). JACK WOLFSKIN hereby accepts the transfers described in the foregoing.

5.2    lf and to the extent lntellectual Property Rights in the Work Results are not transferable under applicable law (particularly in the case of copyrights), the Consultant hereby grants JACK WOLFSKIN - worldwide, exclusively (also with respect to the Consultant), perpetually and irrevocably and without any restriction in terms of subject-matter or time - all rights and claims to the Work Results, in particular, without any restriction, all rights of use and exploitation protected by copyright for all known manners of use, in each case as of the time when such rights are created. Such right of use and exploitation shall include any pecuniary rights (vermögensrechtliche Befugnisse) in the Work Results and in particular the right to use and exploit, copy, distribute, grant further rights of use to third parties, lease (vermieten), perform, display, exhibit, make publicly available and to broadcast, as well as to modify and change, in particular shorten, transform such lntellectual Property into other types of work or combine such Work Results with other works, to create derivative works and to use such modified, changed or derivative works in any of the aforementioned manners, and to do any of the foregoing domestically or abroad, in embodied or unembodied form, gratuitously or in return for payment, with or without naming the Consultant. Such right of use shall apply to any analog or digital forms of use, including the Internet or other wired or wireless networks, broadcasting, radio transmission, satellite transmission or cable retransmission in all standards on a world-wide basis. The granting of rights shall also extend to manners of use that are at present still unknown. JACK WOLFSKIN hereby accepts the granting of rights described in the foregoing.

5.3    The purpose of the transfers and grants hereunder is so that JACK WOLFSKIN will be able to .fully and freely dispose of (verfügen über) the Work Results like an owner, to the exclusion of the Consultant. In particular, JACK WOLFSKIN will be entitled to amend the Work Results and use them in the .amended form to the same extent as in the original form provided. As such the Consultant shall refrain from applying for any industrial or intellectual property rights with regard to the Work Results, unless otherwise agreed between the Parties.

5.4    JACK WOLFSKIN is entitled to transfer the rights transferred or granted to it to third parties or to grant non-exclusive or exclusive rights of use and exploitation to third parties, in each case either in whole or in part, permanently or temporarily. The rights transferred or granted in the manner stipulated above shall continue to exist even after termination of this Agreement.

5.5    The Consultant waives any and all rights, arising from Section 13 sentence 2 German Copyright Act, to be named as creator to the extent permissible by law. The Consultant also waives any and all rights arising from Sections 12, 14, 23, 25, 39, 41,42 German Copyright Act. lnsofar as mandatory law restricts the waiver set forth in the preceding sentences, the Consultant herewith authorizes JACK WOLFSKIN to safeguard and assert the Consultant's rights in its own name.

5.6    The Consultant shall ensure and procure that the obligations as set forth in Section 5.3 to 5.8 shall also apply to any authorized sub-contractors and service providers that  may be engaged  by the Consultant for the purposes of rendering the Services under this Agreement. The Consultant shall ensure by appropriate contractual provisions that all rights in Work Results created by such sub-contractors and service providers vest in JACK WOLFSKIN as if such Work Results had been created by the Consultant; Section 5.2 shall apply accordingly.

5.7    The  Consultant  acknowledges  and agrees that the  Consideration  agreed  on in this Agreement  for the Services  provided  by the  Consultant  fully  covers  the transfer  and granting of  rights and claims  under this Agreement as well as the  additional. activities and waivers provided for in this connection. The Consultant agrees that the Consultant's   Consideration adequately considers and reflects the Consultant's  benefit  from  the  use  of the  Work  Results - including  by granting  rights of  use to  third parties - which is common for the type of the Work Results created by the Consultant and which can be expected based on the course of JACK WOLFSKIN's  business.

5.8    Any further rights of JACK WOLFSKIN, in particular those arising from the law, shall remain unaffected.

5.9    The Consultant agrees and confirms that JACK WOLFSKIN remains the sole owner of and the Consultant will respect and shall refrain from challenging directly or indirectly any of JACK WOLFSKIN's lntellectual Property Rights, including, without limitation, any designs, sketches, models, samples, prints, styles, concepts, drafts, presentations, templates, patterns, prototypes, products, databases, processes and technologies or the like provided by JACK WOLFSKIN to or otherwise becoming accessible to the Consultant in connection with the rendering of the Service or developed by the Consultant for JACK WOLFSKIN as Work Results under this Agreement. 

5.10    The Consultant shall not use the name of JACK WOLFSKIN in a trading name. The Consultant is entitled to reference JACK WOLFSKIN in the Consultant's own advertising or promotional materials (including website or other online presentations).

6.    Liabilities
6.1    The parties are ·liable to each other exclusively for intent and gross negligence. In the event of gross negligence, liability for indirect and consequential darnages (in particular business interruptions, production stoppages, lass of profit and futile expenses) is excluded.

7.    Confidentiality
7.1    The Consultant undertakes to maintain secrecy with regard to all confidential business matters of JACK WOLFSKIN, Jack Wolfskin Group, affiliated companies or their business partners that become known to her while performing her Services under this Agreement, in particular regarding business and trade secrets, development work, construction, planning and customer relationships and not use this information for r,erself or for third parties. This obligation shall continue to apply after the termination of this Agreement.

7.2    The Consultant is obliged to maintain the secrecy about the financial content of this Agreement and any arrangements in connection therewith.

8.    Data Protection Rules
The Parties undertake to comply with the relevant Data Protection rules. lf and to the extent the Consultant obtains knowledge of any personal data, the Consultant ·undertakes  to
8.1.    only process such Personal Data as strictly necessary for the purposes of the Parties' discussions and the services rendered under this Agreement;
8.2.    store, use and process Personal Data as a data controller and in accordance with the General Data Protection Regulation 2016/679 (the "GDPR"), any relevant law, statute, declaration, decree, directive, legislative enactment, order, ordinance, regulation, rule or other binding instrument which implements the GDPR, the e-Privacy Directive 2002/58/EC or the e-Privacy Regulation 2017/003 (once  it takes effect), in each case as amended, consolidated, re-enacted or replaced from time to time and any other applicable data protection legislation, guidelines and industry standards to which either party is subject (together, the "Applicable Data Protection Laws");
8.3.    protect any transferred Personal Data against accidental or unlawful destruction or accidental lass, alternation, or unauthorized disclosure or access and shall otherwise comply with and provide the levels of protection outlined in the Applicable Data  Protection  Laws, as weil  as other  applicable regulations and directives; and
8.4.    not transfer Personal Data to any other party without prior written authorization from JACK WOLFSKIN.

9.    Term and Termination

9.1    The term of this Agreement  ("Term") shall be for a fixed  period commencing on January 1st, 2021 and ending December 31st, 2021. The  Parties shall consult  by October 31st  of each year as to whether they wish to renew the agreement for the next following 12 months (Jan  -  Dec).  Any  renewal  has to be agreed  in writing between the Parties.

9.2    The right for an extraordinary termination of each party remains unaffected. Consultant further acknowledges and agrees that in the event Consultant fails to perform her obligations to JACK WOLFSKIN in connection with the Services, or undertakes any actions regarding the activities of JACK WOLFSKIN that are not Requested Actions (as defined in Section 1.5), such failure or action shall constitute an event of cause for immediate termination of the Agreement.

9.3    Any notice of termination shall be in written form and be sent by registered mail.

9.4    In the event the Consultant files a petition in bankruptcy, is adjudicated bankrupt or files a petition or otherwise seeks relief under or pursuant to any bankruptcy, insolvency or reorganization statue or proceeding, or if a petition in bankruptcy or winding up is filed against Consultant, or Consultant becomes insolvent or makes an assignment or arrangement for the benefit of Consultant's creditors or custodian, receiver or trustee is appointed . for Consultant or a substantial portion of Consultant's business or assets, this Agreement shall terminate automatically. No assignee for the benefit  of creditors, custodian, receiver, trustee in bankruptcy, or any other officer of the court  or  officially charged with taking over custody of the Consultant's assets or business shall have any right to continue this agreement or exploit or in any way use the lntellectual Property of JACK WOLFSKIN, except where otherwise required by compulsory local law.

9.5    Upon termination  of this Agreement  in accordance  with Section 9.1 and 9.2 bove the  Consultant  has to return or at the discretion of JACK WOLFSKIN destroy any work, business documents or any other documents provided in course of this Agreement to JACK WOLFSKIN. The Consultant's right of retention shall not apply. Electronic data shall be deleted, unless precluded by mandatory law or similar official regulations. Upon request of JACK WOLFSKIN the Consultant has to confirm the erasure of such data.

10.    Governing law and interpretation. Disputes
10.1    This Agreement shall be governed by the laws (but not the conflict-of-laws rules) of the Federal Republic of Germany excluding the UN Convention on International Sales of Goods.(CISG) .

10.2    Any dispute, controversy or claim arising under, out of or relating to this Agreement (including its formation, validity, binding effect, interpretation, performance, breach or termination as well as non contractual claims) shall be exclusively settled, without the possibility for appeal to any ordinary court, and submitted to mediation in accordance with the WIPO Mediation Rules. The place of mediation shall be Idstein/Taunus, Germany. The language to be used in the mediation shall be English.

10.3    lf, and to the extent that, any such dispute, controversy or claim has not been settled pursuant to the mediation within three months of the commencement of  the mediation, it shall, upon the filing  of  a written  request  for  arbitration  by either  party,  be  referred to  and finally  determined  by  arbitration  in accordance with the WIPO Arbitration Rules. The arbitral tribunal shall consist of three arbitrators. The place of arbitration shall be Idstein/Taunus, Germany. The language to be used in the arbitral proceedings shall be German.

11.    Miscellaneous provisions
11.1    This Agreement contains the full Agreement of the Parties and supersedes all the other previous Agreements and understandings between them, whether oral or in writing.

11.2    Any amendment to this Agreement shall only be effective if made in writing. This also applies to this Section.

11.3    This Agreement may be executed in one or more counterparts, each of which shall be  deemed an original, but all of which together shall constitute one and the same instrument.

11.4    The waiver by either party of any right under this Agreement or to a remedy for the breach of any of the provisions herein shall not operate nor be construed by the breaching party as a waiver of the non breaching party's remedies with respect to any other or subsequent breach.

11.5    lf any provision of this Agreement is for any reason held to be invalid or unenforceable, the  other provisions of this Agreement shall remain in full force and effect. The invalid or unenforceable provision shall be replaced by an alternative clause which as closely as possible. reflects the apparent or . presumable intent of the Parties.

11.6    Sections 5, 7, 8, and 11.6 shall survive the termination of this Agreement for any reason whatsoever.

[Signature page to follow]

																		
	Koln,	August 12, 2020		Idstein,		
						
	Melody Harris-Jensbach:		JACK WOLFSKIN	
				Ausrüstung für Draussen GmbH & Co. KGaA:

						
	/s/   Melody Harris-Jensbach		/s/   Alexander Hauser	
						
						
				/s/   Ante Franicevic
	
						

Annex 1- Services

1)    TRANSITION TO SUCCESSOR CEO

Consultant shall use her best efforts to assist and cooperate with JACK WOLFSKIN in transitioning the day-to-day leadership of JACK WOLFSKIN to the Successor CEO by meeting with the Successor CEO and responding to requests for information, in each case upon prior mutual agreement of the parties, to Consultant's knowledge concerning past activities of JACK WOLFSKIN's business and operations, its technologies, its future plans, its key employees, problems that may be facing JACK WOLFSKIN and suggested solutions for them, and similar matters, and by encouraging present key employees to assist and cooperate with the Successor CEO, and by making introductions to key suppliers and customers with whom Consultant is acquainted (the "CEO Transition Process").
Consultant shall also, subject to prior mutual agreement of the parties, provide advice and consultation on other matters related to the CEO Transition Process as may be  reasonably requested by an Authorized  Representative from time to  time.

2)    GENERAL CONSULTING SERVICES

Consultant shall use her best efforts to assist and cooperate with JACK WOLFSKIN by advising the Successor CEO and, as directed by an Authorized Representative, any additional JACK WOLFSKIN personnel on industry matters and advising JACK WOLFSKIN with respect to strategic industry considerations. Consultant shall also, subject to prior mutual agreement of  the  parties, provide advice and consultation on other matters related to the business and operation of JACK WOLFSKIN as may be reasonably requested by an Authorized  Representative from time to time.
Consultant may also be asked by an Authorized Representative to serve on a committee or advise in connection with JACK WOLFSKIN's sustainability efforts, subject to mutual agreement.

Annex 2 - List of Competitors

			
	Berghaus
	Columbia
	Fjäll Räven

	Haglofs
	lcebreaker
	Mammut
	Marmot
	Odlo
	Ortovox
	Patagonia
	Peak Performance

	Schöffe!
	The North Face

	Vaudettgt-ex42_6.htm

 

Exhibit 4.2

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES

EXCHANGE ACT OF 1934

TechTarget, Inc. (“TechTarget,” the “Company,” “we,” “our,” or “us”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our Common Stock, par value $0.001 per share (the “Common Stock”). Our Fourth Amended and Restated Certificate of Incorporation (“Certificate of Incorporation”) authorizes the issuance of up to 100,000,000 shares of Common Stock and 5,000,000 shares of undesignated preferred stock, par value $0.001 per share (the “Preferred Stock”). 

The general terms and provisions of our Common Stock are summarized below. This description may not contain all the information that is important to you and is qualified in its entirety by reference to our Certificate of Incorporation and our Amended and Restated By-Laws, as amended (the “By-Laws”). For additional information, you should refer to the provisions of our Certificate of Incorporation and our By-Laws, which are included as exhibits to the Annual Report on Form 10-K to which this description is an exhibit. Please also refer to the applicable provisions of the Delaware General Corporation Law (the “DGCL”) for additional information.

Dividends

Holders of Common Stock are entitled to receive proportionately any dividends as may be declared by our board of directors (the “Board”) or any authorized committee of the Board, subject to any preferential dividend rights of any outstanding shares of Preferred Stock. These dividends are non-cumulative.

Voting Rights

Holders of Common Stock are entitled to one vote per share with respect to each matter presented to our stockholders on which the holders of Common Stock are entitled to vote and do not have cumulative voting rights. Subject to any rights, powers and preferences of outstanding shares of Preferred Stock, and except as provided by law, holders of our Common Stock have the exclusive right to vote for the election of directors of the Company and on all other matters requiring stockholder action. An uncontested election of directors at a meeting of stockholders is determined by a majority of the votes cast by the shares present in person or represented by proxy at the meeting and entitled to vote on the election. A contested election of directors at a meeting of stockholders is determined by a plurality of the votes cast by the stockholders entitled to vote on the election.

Liquidation 

In the event of our liquidation or dissolution, holders of Common Stock are entitled to receive ratably all assets available for distribution to stockholders after the payment of all debts and other liabilities and subject to the prior rights of any outstanding shares of Preferred Stock. 

Other Rights and Preferences

Holders of Common Stock have no preemptive, subscription, redemption or conversion rights. Additionally, there are no sinking fund provisions applicable to the Common Stock. Outstanding shares of Common Stock are non-assessable.

Preferred Stock

Our Board, or any authorized committee thereof, has the authority under our Certificate of Incorporation to issue Preferred Stock in one or more series and to establish or change from time to time the number of shares of each such series and fix the designations, powers, including voting powers (full or limited, or no voting powers), preferences and the relative, participating, optional or other special rights of the shares of each series and any qualifications, limitations and restrictions thereof. The rights, powers and preferences of holders of Common Stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of Preferred Stock which we may designate and issue. In addition, the issuance of Preferred Stock could impede the completion of a merger, tender offer or other takeover attempt.

 

 

Certain Provisions of our Certificate of Incorporation and By-Laws and the DGCL

Our Certificate of Incorporation and By-laws and the DGCL contain provisions that could have the effect of delaying, deferring or discouraging another party from acquiring control of us. These provisions, which are summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our Board.

Number of Directors

Subject to the rights of holders of any series of Preferred Stock to elect directors, our Board establishes the number of directors that constitutes our Board.

Staggered Board; Removal of Directors

Our Certificate of Incorporation divides our directors into three classes with staggered three-year terms. Our directors may be removed from office only for cause and only by the affirmative vote of holders of our capital stock representing at least 75% of the voting power of all outstanding stock entitled to vote. Any vacancy on our Board, including a vacancy resulting from an enlargement of our Board, may be filled only by the affirmative vote of a majority of our directors then in office, even if less than a quorum of the Board. The classification of our Board of directors and the limitations on the removal of directors and filling of vacancies could make it more difficult for a third party to acquire, or discourage a third party from seeking to acquire, control of us.

Stockholder Action by Written Consent; Special Meetings

Our Certificate of Incorporation and our By-laws provide that any action required or permitted to be taken by our stockholders must be effected at a duly called annual or special meeting of such stockholders and may not be effected by any consent in writing by such stockholders. Our Certificate of Incorporation and our By-laws also provide that, except as otherwise required by law, special meetings of our stockholders can only be called by our Board.

Advance Notice Requirements

Our By-laws contain an advance notice procedure for stockholder proposals to be brought before an annual meeting of stockholders, including proposed nominations of persons for election to the board of directors. Stockholders at an annual meeting may only consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of the Board or by a stockholder of record on the record date for the meeting, who is entitled to vote at the meeting and who has delivered timely written notice in proper form to our secretary of the stockholder’s intention to bring such business before the meeting. These provisions could have the effect of delaying until the next stockholder meeting stockholder actions that are favored by the holders of a majority of our outstanding voting securities.

Delaware Business Combination Statute

We are subject to Section 203 of the DGCL. Subject to certain exceptions, Section 203 prevents a publicly held Delaware corporation from engaging in a “business combination” with any “interested stockholder” for three years following the date that the person became an interested stockholder, unless the interested stockholder attained such status with the approval of our Board or unless the business combination is approved in a prescribed manner. Under Delaware law, a “business combination” includes, among other things, a merger or consolidation involving us and the “interested stockholder” and the sale of more than 10% of our assets. In general, an “interested stockholder” is any entity or person beneficially owning 15% or more of our outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person.

Super-Majority Voting

The DGCL provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a corporation’s certificate of incorporation or by-laws, unless a corporation’s certificate of incorporation or by-laws, as the case may be, requires a greater percentage. The affirmative vote of holders of our capital stock representing at least 75% of the voting power of all outstanding stock entitled to vote is required to amend or repeal the provisions of our Certificate of Incorporation described in this section entitled “Certain Provisions of our Certificate of Incorporation and By-Laws and the DGCL”. The affirmative vote of either a majority of the directors then in office or holders of our capital stock representing at least 75% of the voting power of all outstanding stock entitled to vote is required to amend or repeal our By-laws.

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