NON-QUALIFIED STOCK OPTION AGREEMENT PURSUANT TO THE TOWN SPORTS INTERNATIONAL HOLDINGS, INC. 2006 STOCK INCENTIVE PLANNon-Qualified Stock Option Agreement • November 1st, 2007 • Town Sports International Holdings Inc • Services-membership sports & recreation clubs • New York
THIS AGREEMENT, dated as of , 200___(this “Agreement”), between Town Sports International Holdings, Inc. (the “Company”) and (the “Participant”).
Mr. Robert Giardina c/o Town Sports International Holdings, Inc. 5 Penn Plaza New York, NY 10001 Dear Bob:Town Sports International Holdings Inc • November 1st, 2007 • Services-membership sports & recreation clubs • New York
This letter agreement confirms the terms that Town Sports International, LLC (the “Company”) is offering you in connection with your resignation from the employ of the Company and its affiliates and from all officer and director positions that you currently hold with the Company and its affiliates other than as a director of Town Sports International Holdings, Inc. (“TSI Holdings”).
