Offer Letter for Promotion to Senior Vice President of Human Resources, Retail & Call Center Operations – Duluth Trading Company and Dave Homolka
Duluth Trading Company has offered Dave Homolka a promotion to Senior Vice President of Human Resources, Retail & Call Center Operations, effective February 3, 2020. The agreement sets an annual base salary of $325,000, paid bi-weekly, with a merit review in April 2020. Dave is also eligible for a bonus in 2020, targeted at 50% of his base salary, contingent on the company meeting certain financial goals. The offer was accepted by Dave Homolka on January 24, 2020.
Exhibit 10.18
January 24, 2020
Dear Dave:
It is my pleasure to extend the following promotion to you on behalf of Duluth Trading Company.
Position Title: Senior Vice President of Human Resources, Retail & Call Center Operations
Effective Date: February 3, 2020
Base Salary: Your annual base salary will be $325,000 annual, which is paid bi-weekly and is subject to deductions for taxes and other withholdings that are required by law. Your salary will be reviewed for merit consideration in April of 2020.
Bonus: For Fiscal 2020, your bonus target is 50% of your base salary wages earned. You will be eligible for payout in the spring of 2021 and is contingent upon the Company meeting certain financial thresholds that are established annually.
I look to your continued contributions at Duluth Trading Company.
Sincerely,
/s/ Steve Schlecht
Steve Schlecht, CEO
Duluth Trading Company
ACCEPTED:
/s/ Dave Homolka 1/24/2020
Dave Homolka Date
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