Document:

EX-10.23

 Exhibit 10.23 
 Amended and Restated 
 Non-Employee Director Compensation Plan

 1. The following non-employee Board members will receive the following annual retainer: 

(a) The non-executive chairman of the Board will receive a $100,000 annual retainer; 

(b) Each non-employee Board member (other than the non-executive chairman of the Board) will receive a $60,000 annual retainer;

 (c) The chairman of the Audit Committee will receive an additional $15,000 annual retainer; 

(d) The chairman of the Compensation Committee will receive an additional $7,500 annual retainer; and 

(e) Each chairman of each Committee of the Board (other than the chairman of the Audit Committee and the chairman of the Compensation
Committee) will receive an additional $6,000 annual retainer. 
 2. The annual retainer amounts set forth above shall be payable quarterly in
arrears on the fifth business day prior to the end of each calendar quarter. For each year, any such Board member may elect (by giving written notice to the Company on or before the first business day of the applicable calendar year) to receive such
annual retainer in the form of shares of Common Stock of the Company, payable quarterly in arrears on the fifth business day prior to the end of each calendar quarter under the Town Sports International Holdings, Inc. 2006 Stock Incentive Plan, as
amended (the “Plan”) (with the value of such shares of Common Stock being the Fair Market Value (as defined in the Plan) thereof on the fifth business day before the end of each calendar quarter). Notwithstanding the preceding
sentence, any Board member who has so elected to receive such annual retainer in the form of shares of Common Stock of the Company may revoke such election for the balance of such calendar year by giving written notice to the Company at any time
when such Board member is otherwise eligible to purchase and sell shares of Common Stock of the Company pursuant to the Company’s then existing trading policies and procedures with respect to such purchases and sales. This annual retainer will
be pro-rated for any partial year. 
 4. Each non-employee Board member will receive an annual award of Common Stock on the third Wednesday
of each calendar year as follows, with each award being fully vested as of the award date, and will otherwise be subject to the terms of the Plan: 
 (a) Chairman of the Board: Shares with a Fair Market Value (as defined in the Plan) of $45,000 on the award date 
 (b) Other non-employee Board member: Shares with a Fair Market Value (as defined in the Plan) of $40,000 on the award date 
 Additional grants may be made from time to time. 
 5. Each new non-employee Board member
joining the Board will receive an initial award of shares of Common Stock with a Fair Market Value (as defined in the Plan) of $40,000 on the award date, which shares shall be fully vested as of the award date. Each new non-employee Board member
will be eligible in the following year to receive the annual award of Common Stock referred to in Section 4 above. 
 6. No member of
the Board will receive any fees for attending any meetings of the Board or its committees. 
 7. Each non-employee Board member and each
member of a Board committee will be reimbursed for any out-of-pocket expenses reasonably incurred by him or her in connection with services provided in such capacity. 

 8. Each non-employee Board member shall be required to hold shares of Common Stock with a Fair Market Value
(as defined in the Plan) equal to four (4) times the amount of the annual cash retainer payable to directors as set forth in Section 1(b) above. All shares of Common Stock bought by the director or an immediate family member residing in
the same household, all shares held in trust for the benefit of the director or his or her family, and all shares granted under the Company’s equity compensation plans shall count towards the satisfaction of these requirements. 

Each non-employee Board member shall be required to attain such ownership within five years of joining the Board, or in the case of
directors serving as of January 1, 2013, by January 1, 2018, and to continue to meet such requirements as of every December 31 of each successive year. If, following the fifth anniversary of joining the Board (or January 1, 2018
in the case of directors serving as of January 1, 2013), the Fair Market Value (as defined in the Plan) of the Common Stock decreases such that the director is no longer in compliance with these requirements, the director shall not be required
to acquire any additional shares of Common Stock. 
 In the event that a director fails to comply with these share ownership
requirements, he or she shall be required to tender his or her resignation from the Board, in which case the Board shall, in its discretion, determine whether or not to accept such resignation.EX-10.33

 Exhibit 10.33 
 PRIVILEGED AND CONFIDENTIAL DRAFT 
  

			
	To:	 	[Name of Participant]
	From:	 	Bob Giardina
	Date:	 	December     , 2012
	Re:	 	2012 Bonus Payments

 Congratulations! The Compensation Committee of the Board of Directors has preliminarily approved the
bonuses under the Amended and Restated Town Sports International Holdings, Inc. 2006 Annual Performance Bonus Plan (the “Plan”) for 2012 and has approved the Company’s payment of a portion of the preliminary bonus amount in December
2012, subject to the conditions described in this letter agreement. The remaining portion (if any) of your earned bonus for 2012 will be paid after the Committee certifies the extent to which the performance goals have been attained in a manner
consistent with the Plan. If you sign below, you will be paid 50% of your 2012 target bonus as currently forecasted. 
 However,
if you are no longer employed by the Company for any reason on the date on which the remaining payments are made (or if no payment is due, the date of such certification by the Committee) , you will be required to repay to the Company the amount of
the bonus previously paid within 5 days of your departure. In addition, if it is ultimately determined by the Compensation Committee that the Company’s performance goals or your individual performance goals were not satisfied in a manner that
would have led to the payment of this preliminary bonus, you will be required to repay any excess amount paid within 5 days of being notified in writing. (Payments that are required to be repaid pursuant to this paragraph are referred to in this
letter agreement as “overpayments”) 
 By signing below, you acknowledge and agree that (i) you understand the
implications of receiving this payment in 2012, (ii) the Company may deduct, but only to the extent and in a manner permitted by applicable law, any overpayment from future wages owed to you and (iii) in the event that the Company incurs
legal fees and costs in order to recoup any overpayments, you will be required to reimburse the Company for such amounts. 

Please return this letter, signed, to Nitin Ajmera (nitin.ajmera@town-sports.com) no later than noon on Wednesday,
December 26, 2012. 
 We thank you for your contributions in 2012 and look forward to another productive and successful
year! Happy Holidays. 
  

	
	Acknowledged and Agreed
	
	  

	[Name of Participant]EX-10.14

 Exhibit 10.14 
 SECOND AMENDMENT TO LEASE 
 This Second Amendment to Lease (“Amendment”), dated
October 31, 2012 (for reference purposes only), is made and entered into by and between Harsch Investment Properties, LLC, an Oregon limited liability company (“Landlord”), and Jive Software, Inc., a Delaware corporation
(“Tenant”). 
 RECITALS 
 A. Landlord and Tenant are parties to that Lease Agreement dated February 25, 2008, as amended (collectively, the “Lease”), for the premises located at 915 SW Stark Street, Portland, Oregon
(“Premises”). 
 B. The Lease Term expires on October 31, 2013. 
 C. The parties desire to further amend the Lease on the terms and conditions set forth below. 
 NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby acknowledged, Landlord and Tenant hereby agree as follows: 

AGREEMENT 
 1.
Term. The Term of the Lease shall expire on September 30, 2018, and Tenant shall have no further option under the Lease to renew the Term. 
 2. Base Rent. Effective October 1, 2012, Monthly Base Rent for the Premises shall be: 
  

			
	October 1, 2012 through September 30, 2013	 	$ 86,320.00 per month
		
	October 1, 2013 through September 30, 2014	 	$ 88,910.00 per month
		
	October 1, 2014 through September 30, 2015	 	$ 91,577.00 per month
		
	October 1, 2015 through September 30, 2016	 	$ 94,325.00 per month
		
	October 1, 2016 through September 30, 2017	 	$ 97,154.00 per month
		
	October 1, 2017 through September 30, 2018	 	$100,069.00 per month

 3. Operating Expenses and Base Year. Effective October 1, 2012, the Base Year for calculating Tenant’s
share of Operating Expenses shall be 2013. Tenant shall not incur an increase in operating expenses until 2014 at the earliest. Landlord and Tenant agree that as of September 30, 2012, the Common Area Maintenance, Property Taxes, and Insurance
estimates paid by Tenant in 2012 shall be considered payment in full of Tenant’s share for 2012 and there shall be no further reconciliation of Tenant’s share for 2012. 
 4. Allowances and Tenant Improvements. 
 A. Space Planning
Allowance. In connection with the Tenant Improvements Landlord shall pay for space planning costs in an amount up to $0.10/RSF (“Space Planning Allowance”) in accordance with Section 4 (B)(ii) below. 

B. Tenant Improvement Allowance. 
 (i) Landlord shall pay for the hard and soft costs of the Tenant Improvements up to Five Dollars per rentable square foot ($5.00/RSF) for the Premises not included in the Expansion Area as defined below
(the “TI Allowance”). 
 (ii) The TI Allowance may be used for general tenant improvements as well as all soft costs,
including design, Tenant’s project manager, engineering, permitting and other commercially reasonable costs to improve the Premises. Up to $2.00/RSF of unused TI Allowance may be applied as a Rent credit or to any Tenant funded project costs.
Tenant may seek a Base Rent credit by submitting a statement to Landlord and the credit will be applied to the next month’s Base Rent. Landlord shall have no obligation to pay the TI Allowance at any time that a Tenant Default occurs and is
outstanding or at any time following termination of the Lease or of Tenant’s right of possession. Any costs, fees, or expenses of any kind or nature shall be paid solely by Tenant. 

(iii) Landlord shall enter into a construction contract for the Tenant Improvements, however, Tenant shall have the right to approve the
general contractor and select its own project manager, architect with Landlord’s reasonable approval. Notwithstanding the foregoing, all HVAC work shall be performed by TCMS and all electrical work shall be performed by Christenson Electric.

 (iv) Landlord or its agents shall not charge any supervisory fees for initial tenant improvements or for future alterations,
including cost for review of Tenant’s plans and specifications. 

  
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 (v) All costs in connection with the design, management and construction of the Tenant
Improvements in excess of the TI Allowance that are due to the actions, conduct, inaction or requested by Tenant shall be paid directly by Tenant to Landlord within twenty (20) days after written notice to Tenant. In no event shall the TI
Allowance be used for any furniture, fixtures and equipment, including, but not limited to office supplies (stationery, etc.), purchase of cabling and installation of computer or telephone equipment, and purchase or moving of Tenant’s
furniture. Throughout the process of design and construction of the Tenant Improvements, Vicki Ryan (“Tenant’s Construction Representative”) shall be available for onsite and telephone consultations and decisions as necessary.
Tenant’s Construction Representative shall have the authority to bind Tenant as to all matters relating to the tenant improvements. Tenant may replace the Tenant’s Construction Representative upon notice to Landlord. 

(vi) All improvements, alterations and other work performed on the Premises by either Landlord or Tenant shall be the property of
Landlord when installed, except for Tenant’s trade fixtures, and may not be removed at the expiration of the Lease unless the applicable Landlord’s consent specifically provides otherwise. 

(vii) Tenant’s entry into the Premises or the Expansion Area as defined below for any purpose, including without limitation
inspection or performance of work by Tenant’s contractor, prior to the Commencement Date, shall be subject to all the terms and conditions of the Lease, including without limitation the provisions of the Lease relating to the maintenance of
insurance, but excluding the provisions of the Lease relating to the payment of rent. Tenant’s entry shall mean entry by Tenant, its officers, contractors, licensees, agents, servants, employees, guests, invitees, or visitors. 

(viii) Upon expiration or earlier termination of this Lease, Tenant shall remove all cabling/data wiring. 

(ix) If the estimated cost of construction of the improvements will exceed the TI Allowance due to changes made by or at Tenant’s
request, then upon the TI Allowance being fully applied, Tenant shall reimburse Landlord for the amount which exceeds the TI Allowance within thirty (30) days following of invoices from Landlord. Any additional amounts payable by Tenant for the
actual cost of the improvements shall be paid upon acceptance of the Premises or Expansion Area by Tenant in accordance with the terms of the Lease, or upon receipt of final accounting. 
 5. Restoration. Except as required by Section 7 of the Lease, Tenant shall not be required to restore any existing or future interior stairways within the Premises, nor any other improvements
or future alteration approved by Landlord And such approval shall not be unreasonably withheld, conditioned or delayed. 
 6. Expansion.

 A. Tenant has the right to expand the Premises to include an additional approximately 14,437 rentable square feet on the
second floor of the Building (“Expansion Area”) that is currently occupied by EURO RSCG Direct Response, LLC (“EURO”). Landlord has been advised EURO intends to vacate the Expansion Area on or about December 31, 2012.
Landlord will notify Tenant immediately upon Landlord’s knowledge of the specific date that EURO will vacate the Expansion Area. Tenant acknowledges EURO is vacating the Expansion Area specifically to accommodate Tenant’s proposed
expansion. Landlord and Tenant shall equally divide EURO’s relocation expenses, however, in no event shall Landlord’s share of such relocation expenses exceed Fifty Thousand Dollars ($50,000.00). Landlord shall pay EURO’s total
relocation expenses and Tenant shall reimburse Landlord for Tenant’s share, plus any amount over $100,000.00, within thirty (30) business days of Landlord’s invoice. 

B. Landlord shall provide Tenant with a Tenant Improvement Reimbursement Allowance equal to Six Dollars per square foot, per year
($6.00/RSF/YR) of the Term for the Expansion Area. Tenant may also use up to all of the Space Planning Allowance amount for the Expansion Area. 
 C. The Term for the Expansion Area and Landlord’s obligation to provide the allowance stated in Section 6 (B) above shall commence sixty (60) days following Landlord’s delivery
(but not earlier than March 1, 2013) and Tenant’s possession of the Expansion Area and shall be at the same per-square-foot rate as the Base Rent in effect for the Premises as it existed prior to the addition of the Expansion Area.
Landlord’s delivery will be deemed to have occurred after (i) EURO has fully vacated the Expansion Area, (ii) Landlord has cleaned and prepared the Expansion Area for Tenant’s possession and (iii) notified Tenant that the
Expansion Area is available to Tenant. 
 D. Tenant may, at Tenant’s sole cost and expense, subject to the prior written
approval of the design and placement by Landlord, install an interior stairway connecting the second and third floors of the Building. The provisions of Section 7 of the Lease shall govern Tenant’s installation of any interior stairway.
Tenant shall not be required to remove the stairway upon expiration of the Lease. 
 E. In the event Tenant takes the Expansion
Space, Tenant shall receive a proportionate increase in the number of parking spaces provided to Tenant as defined in the Lease. 
 F. Upon Landlord’s delivery of the Expansion Area to Tenant, Landlord and Tenant shall execute an amendment to the Lease to include the Expansion Area as part of the Premises and appropriate
adjustments shall be made to the Lease in connection with the increase in square footage of the Premises. All terms and conditions of the Lease shall apply to the Expansion Area, including, but not limited to the duration of the Lease Term.

 G. Tenant’s right to the Expansion Space is subject to and contingent upon EURO surrendering and vacating the same in a
timely manner. In the event EURO fails to surrender or vacate the Expansion Space, Landlord shall have no obligation to deliver the Expansion Space to Tenant. 

  
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 7. Outdoor Installations. Tenant may, at Tenant’s sole cost and expense, install outdoor
recreational courts, such as shuffle board, basketball, and the like, on the fourth floor deck. Any installation shall require Landlord’s and Landlord’s architect’s review and prior written approval which may be withheld in
Landlord’s reasonable discretion, and the approval of all requisite permitting agencies. Tenant shall be solely responsible for all activities on any outdoor recreational court in accordance with Section 4(d) of the Lease. 

8. General. 
 8.1
Effect of Amendment; Ratification. Except as otherwise modified by this Amendment, the Lease shall remain unmodified and in full force and effect. In the event of any conflict or inconsistency between the terms and conditions of the Lease and
the terms and conditions of this Amendment, the terms and conditions of this Amendment shall prevail. All capitalized terms used and not otherwise defined herein shall have the same meanings and definitions as set forth in the Lease. 

8.2 Counterparts. If this Amendment is executed in counterparts, each counterpart shall be deemed an original. 

8.3 Authority to Execute Amendment. Each individual executing this Amendment on behalf of a limited liability company represents
that he or she is duly authorized to execute and deliver this Amendment on behalf of such limited liability company and that this Amendment is binding upon such limited liability company in accordance with its terms. 

8.4 Confidentiality. Tenant and its employees, agents and brokers shall keep confidential all matters concerning the terms of this
Amendment and the negotiations which led to it and shall not disclose the fact or substance of the negotiations or the terms to anyone without the prior written consent of Landlord. Notwithstanding the foregoing, the provisions and preceding
negotiations may be revealed to Tenant’s accountants, attorneys and lenders so long as each such recipient is advised of the necessity for them to also maintain the confidentiality of the information. If any third party demands entitlement to
the benefit of similar terms or conditions on the basis that Tenant received such treatment, it will be deemed to be the result of a violation of this confidentiality requirement by Tenant and such violation shall constitute an event of Default
under the Lease. 
 8.5 Contingency – Landlord’s Lender Approval. This Amendment is subject to and
conditioned upon the review and approval of Landlord’s lender in all respects. If Landlord’s lender refuses to consent to the terms and conditions of this Amendment, the Amendment shall be deemed void and of no further force or effect.
Landlord agrees to use its commercially reasonable efforts to promptly obtain its lender’s consent to this Amendment in the form and content negotiated by Landlord and Tenant. In the event Landlord’s lender offers modifications to the
Lease and the parties agree to such modifications, this contingency shall be deemed satisfied. 
 IN WITNESS WHEREOF, the
parties hereto have executed this Second Amendment to Lease as of the date and year first above written. 
  

			
	Landlord:	  	Tenant:
		
	Harsch Investment Properties, LLC	  	Jive Software, Inc.
		
	 /s/ Steven A. Roselli
	  	 /s/ Bryan J. LeBlanc

	By	  	By
		
	 Steven A. Roselli
	  	 Bryan J. LeBlanc

	Print Name	  	Print Name
		
	 Senior Vice President and Regional Manager
	  	 Chief Financial Officer

	Title	  	Title

  
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