June 17, 2015 Daniel Gallagher c/o Town Sports International Holdings, Inc. New York, NY 10001 Dear Dan:Separation Agreement • June 18th, 2015 • Town Sports International Holdings Inc • Services-membership sports & recreation clubs • New York
This letter agreement (the “Agreement”) confirms the terms that Town Sports International Holdings, Inc. (“TSI Holdings” and together with its subsidiaries and affiliates, the “Company”) is offering you in connection with your departure from the employ of the Company, including from all officer and other positions that you currently hold with the Company. For the sake of clarity, this Agreement confirms our mutual agreement regarding such departure.
