Mr. Randy Stephen c/o Town Sports International Holdings, Inc. 5 Penn Plaza — 4th Floor New York, NY 10001 Dear Randy:Separation Agreement • March 19th, 2008 • Town Sports International Holdings Inc • Services-membership sports & recreation clubs • New York
This letter agreement (the “Agreement”) confirms the terms that Town Sports International, LLC (the “Company”) is offering you in connection with your resignation of employment from the Company and its affiliates and from all officer and other positions that you currently hold with the Company and its affiliates, including Town Sports International Holdings, Inc. (“TSI Holdings”).
