Exhibit
10.5
EMPLOYEE LEASE
AGREEMENT
This Employee Lease Agreement (this
“Agreement”) is made and entered into effective
January 1, 2005 (the “Effective Date”), by and
between Cabela’s Incorporated , a Delaware
corporation (“Company”), and Mudhead
Enterprises, LLC , a Nebraska limited liability company
(“ME”).
R E C I T A L
S:
WHEREAS, ME desires to utilize certain personnel
from Company on an interim basis to perform certain duties
unrelated to the employees’ duties to Company;
WHEREAS, the parties believe that Company will
obtain various indirect benefits from the services such employees
will perform for ME; and
WHEREAS, the parties desire to formalize this
arrangement and document the same by entering into this
Agreement.
NOW, THEREFORE, in consideration of the mutual
covenants herein contained and other good and valuable
consideration, the parties agree as follows:
1.
Services . Company agrees to lease to ME, certain Company
employees as follows:
a.
Identification of
Employees . The specific
employees (the “Employees”) and the percentage of time
for which they shall be available to provide services for ME is
more fully set forth on Exhibit “A”, which is attached
hereto. After consulting with ME, Company shall be permitted to
amend Exhibit “A” from time to time during the Term
(defined below) and select the Employees to provide the services.
The parties further agree to review Exhibit “A” for
accuracy at least semi-annually.
b.
Employees’ Reporting
Duties . The Employees
shall report to ME to the extent their services relate to ME
matters and to the President of Company, or his designee, to the
extent their services relate to Company matters. Neither ME nor
Company shall hire additional employees who would be chargeable to
the other without the prior written consent of the
other.
c.
Leased Employee Compensation and
Benefits . Company shall
have the sole discretion as to the employee benefits to be provided
and compensation to be paid to the Employees; provided, however,
Company agrees to provide ME with ninety (90) days’ prior
written notice of any adjustment to such benefits and/or
compensation.
2.
Compensation
. In consideration of
Company’s leasing of the Employees, ME agrees to compensate
Company according to the following terms:
a.
Employee Services
. The monthly compensation due for
the leasing of the Employees to ME shall be calculated per Employee
by multiplying the sum of the Employee’s monthly salary and
monthly benefits cost by the percentage of time the Employee is
allocated to ME, as indicated on
Exhibit “A”.
b.
Invoicing . Company shall invoice ME each month for the
services of the Employees allocated to ME during the preceding
month. ME shall pay each month’s invoice in full within
thirty (30) days of receipt.
3.
Insurance . Company shall furnish and keep workers’
compensation insurance, covering the Employees, in full force and
effect, at all times during the Term.
4.
Independent Contractor
Rel
