Document:

Exhibit
10.2 

 

January
7, 2020

 

Cellect
Biotechnology Ltd.

23
Hata’as Street

Kfar
Saba

Israel
44425

Attention:
Shai Yarkoni

   Chief
Executive Officer

  

Dear
Mr. Yarkoni:

 

This
letter (the “Agreement”) constitutes the agreement between A.G.P./Alliance Global Partners, as sole placement
agent (“A.G.P.”), and Cellect Biotechnology Ltd. (“Cellect”), a company organized under
the laws of Israel (the “Company”), that A.G.P. shall serve as the placement agent for the Company, on a “reasonable
best efforts” basis, in connection with the proposed placement (the “Placement”) of American Depositary
Shares Representing Ordinary Shares, no par value (the “Shares”). The Shares actually placed by A.G.P. are
referred to herein as the “Placement Agent Securities.” The Placement Agent Securities shall be offered and
sold under the Company’s registration statement on Form F-3 (File No. 333-219614) with respect to the Placement Agent Securities.
The documents executed and delivered by the Company and the Purchasers (as defined below) in connection with the Placement, including,
without limitation, a securities purchase agreement (the “Purchase Agreement”), shall be collectively referred
to herein as the “Transaction Documents.” The purchase price to the Purchasers for each Share is $3.00. A.G.P.
may retain other brokers or dealers to act as sub-agents or selected-dealers on its behalf in connection with the Placement. 

 

The
terms of the Placement shall be mutually agreed upon by the Company and the purchasers listed in the Purchase Agreement (each,
a “Purchaser” and collectively, the “Purchasers”), and nothing herein constitutes that A.G.P.
would have the power or authority to bind the Company or any Purchaser, or an obligation for the Company will issue any Securities
or complete the Placement. The Company expressly acknowledges and agrees that A.G.P.’s obligations hereunder are on a reasonable
best efforts basis only and that the execution of this Agreement does not constitute a commitment by A.G.P. to purchase the Securities
and does not ensure the successful placement of the Securities or any portion thereof or the success of A.G.P. with respect to
securing any other financing on behalf of the Company. Certain affiliates of A.G.P. may participate in the Placement by purchasing
some of the Placement Agent Securities. The sale of Placement Agent Securities to any Purchaser will be evidenced by the Purchase
Agreement between the Company and such Purchaser, in a form reasonably acceptable to the Company and the Purchaser. Capitalized
terms that are not otherwise defined herein have the meanings given to such terms in the Purchase Agreement. Prior to the signing
of any Purchase Agreement, officers of the Company will be available to answer inquiries from prospective Purchasers.

 

SECTION
1. REPRESENTATIONS AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY.

 

A. Representations
of the Company. With respect to the Placement Agent Securities, each of the representations and warranties (together with
any related disclosure schedules thereto) and covenants made by the Company to the Purchasers in the Purchase Agreement in connection
with the Placement, is hereby incorporated herein by reference into this Agreement (as though fully restated herein) and is, as
of the date of this Agreement and as of the Closing Date, hereby made to and in favor of A.G.P. In addition to the foregoing,
the Company represents and warrants that there are no affiliations with any FINRA member firm among the Company’s officers,
directors or, to the knowledge of the Company, any five percent (5.0%) or greater stockholder of the Company, except as set forth
in the Purchase Agreement and SEC Reports.

  

     

     

    

 

B.
Covenants of the Company. The Company covenants and agrees to continue to retain (i) a firm of independent PCAOB registered
public accountants for a period of at least three (3) years after the Closing Date and (ii) a competent transfer agent with
respect to the Placement Agent Securities for a period of three (3) years after the Closing Date.

 

SECTION
2. REPRESENTATIONS OF THE PLACEMENT AGENT. A.G.P. represents and warrants that
it (i) is a member in good standing of the Financial Industry Regulatory Authority (”FINRA"), (ii) is registered
as a broker/dealer under the Securities Exchange Act of 1934, as amended (the “Exchange Act"), (iii) is licensed
as a broker/dealer under the laws of the United States of America, applicable to the offers and sales of the Placement Agent Securities
by A.G.P., (iv) is and will be a corporate body validly existing under the laws of its place of incorporation, and (v) has full
power and authority to enter into and perform its obligations under this Agreement. A.G.P. will immediately notify the Company
in writing of any change in its status with respect to subsections (i) through (v) above. A.G.P. covenants that it will use its
reasonable best efforts to conduct the Placement hereunder in compliance with the provisions of this Agreement and the requirements
of applicable law.  

 

SECTION
3. COMPENSATION. In consideration of the services to be provided for hereunder,
the Company shall pay to A.G.P. or its designees a total cash fee equal to six and one-half percent (6.5%) of gross proceeds from
the Placement of the total amount of Placement Agent Securities sold (the “Cash Fee”). A.G.P. reserves the
right to reduce any item of compensation or adjust the terms thereof as specified herein in the event that a determination shall
be made by FINRA to the effect that A.G.P.’s aggregate compensation is in excess of FINRA Rules or that the terms thereof
require adjustment. 

 

SECTION
4. EXPENSES. The Company agrees to pay all costs, fees and expenses incurred by the Company in connection with the performance
of its obligations hereunder and in connection with the transactions contemplated hereby, including, without limitation: (i) all
expenses incident to the issuance, delivery and qualification of the Securities (including all printing and engraving costs);
(ii) all fees and expenses of the registrar and transfer agent of the Shares; (iii) all necessary issue, transfer and other stamp
taxes in connection with the issuance and sale of the Placement Agent Securities; (iv) all fees and expenses of the Company’s
counsel, independent public or certified public accountants and other advisors; (v) all costs and expenses incurred in connection
with the preparation, printing, filing, shipping and distribution of the Registration Statement (including financial statements,
exhibits, schedules, consents and certificates of experts), the Base Prospectus and each Prospectus Supplement, and all amendments
and supplements thereto, and this Agreement; (vi) all filing fees, reasonable attorneys’ fees and expenses incurred by the
Company in connection with qualifying or registering (or obtaining exemptions from the qualification or registration of) all or
any part of the Securities for offer and sale under the state securities or blue sky laws or the securities laws of any other
country; (vii) the fees and expenses associated with including the Securities on the Trading Market; and (viii) $30,000 for legal
fees of counsel to A.G.P. Notwithstanding the foregoing, any advance received by A.G.P. will be reimbursed to the Company to the
extent not actually incurred in compliance with FINRA Rule 5110(f)(2)(C). In the event that this Agreement shall not be carried
out for any reason whatsoever, within the time specified herein or any extensions thereof pursuant to the terms herein, the Company
shall be obligated to pay A.G.P. its actual and accountable out-of-pocket expenses related to the transactions contemplated herein
then due and payable (including the fees and disbursements of Representative Counsel) up to $25,000 and upon demand the Company
shall pay the full amount thereof to A.G.P.; provided, however, that such expense cap in no way limits or impairs
the indemnification and contribution provisions of this Agreement.

  

    2

     

    

 

SECTION
5. INDEMNIFICATION.

 

A.
To the extent permitted by law, with respect to the Placement Agent Securities, the Company will indemnify A.G.P. and its
affiliates, stockholders, directors, officers, employees, members and controlling persons (within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act) against all losses, claims, damages, expenses and liabilities, as
the same are incurred (including the reasonable fees and expenses of counsel), relating to or arising out of its activities
hereunder or pursuant to this Agreement, except to the extent that any losses, claims, damages, expenses or liabilities (or
actions in respect thereof) are found in a final judgment (not subject to appeal) by a court of law to have resulted
primarily and directly from A.G.P.’s willful misconduct or gross negligence in performing the services described
herein.

 

B.
Promptly after receipt by A.G.P. of notice of any claim or the commencement of any action or proceeding with respect to which
A.G.P. is entitled to indemnity hereunder, A.G.P. will notify the Company in writing of such claim or of the commencement of
such action or proceeding, but failure to so notify the Company shall not relieve the Company from any obligation it may have
hereunder, except and only to the extent such failure results in the forfeiture by the Company of substantial rights and
defenses. If the Company so elects or is requested by A.G.P., the Company will assume the defense of such action or
proceeding and will employ counsel reasonably satisfactory to A.G.P. and will pay the fees and expenses of such counsel.
Notwithstanding the preceding sentence, A.G.P. will be entitled to employ its own counsel separate from counsel for the
Company and from any other party in such action if counsel for A.G.P. reasonably determines that it would be inappropriate
under the applicable rules of professional responsibility for the same counsel to represent both the Company and A.G.P. In
such event, the reasonable fees and disbursements of no more than one such separate counsel will be paid by the Company, in
addition to fees of local counsel. The Company will have the right to settle the claim or proceeding, provided that the
Company will not settle any such claim, action or proceeding without the prior written consent of A.G.P., which will not be
unreasonably withheld.

 

C. The
Company agrees to notify A.G.P. promptly of the assertion against it or any other person of any claim or the commencement of any
action or proceeding relating to a transaction contemplated by this Agreement.

 

D. If
for any reason the foregoing indemnity is unavailable to A.G.P. or insufficient to hold A.G.P. harmless, then the Company shall
contribute to the amount paid or payable by A.G.P. as a result of such losses, claims, damages or liabilities in such proportion
as is appropriate to reflect not only the relative benefits received by the Company on the one hand and A.G.P. on the other, but
also the relative fault of the Company on the one hand and A.G.P. on the other that resulted in such losses, claims, damages or
liabilities, as well as any relevant equitable considerations. The amounts paid or payable by a party in respect of losses, claims,
damages and liabilities referred to above shall be deemed to include any legal or other fees and expenses incurred in defending
any litigation, proceeding or other action or claim. Notwithstanding the provisions hereof, A.G.P.’s share of the liability
hereunder shall not be in excess of the amount of fees actually received, or to be received, by A.G.P. under this Agreement (excluding
any amounts received as reimbursement of expenses incurred by A.G.P.).

 

E. These
indemnification provisions shall remain in full force and effect whether or not the transaction contemplated by this Agreement
is completed and shall survive the termination of this Agreement, and shall be in addition to any liability that the Company might
otherwise have to any indemnified party under this Agreement or otherwise.

  

    3

     

    

 

SECTION
6. ENGAGEMENT TERM. A.G.P.’s engagement hereunder will be until the
earlier of (i) January 13, 2020 and (ii) the Closing Date. The date of termination of this Agreement is referred to herein as
the “Termination Date.” In the event, however, in the course of the A.G.P.’s performance of due diligence
it deems, it necessary to terminate the engagement, A.G.P. may do so prior to the Termination Date. The Company may elect to terminate
the engagement hereunder for any reason prior to the Termination Date but will remain responsible for fees pursuant to Section
3 hereof with respect to the Placement Agent Securities if sold in the Placement. Notwithstanding anything to the contrary contained
herein, the provisions concerning the Company’s obligation to pay any fees actually earned pursuant to Section 3 hereof
and the provisions concerning confidentiality, indemnification and contribution contained herein will survive any expiration or
termination of this Agreement. If this Agreement is terminated prior to the completion of the Placement, all fees due to A.G.P.
as set forth in Section 3 shall be paid by the Company to A.G.P. on or before the Termination Date (in the event such fees are
earned or owed as of the Termination Date). A.G.P. agrees not to use any confidential information concerning the Company provided
to A.G.P. by the Company for any purposes other than those contemplated under this Agreement.

 

SECTION
6. PLACEMENT AGENT INFORMATION. The Company agrees that any information or advice rendered by A.G.P. in connection
with this engagement is for the confidential use of the Company only in their evaluation of the Placement and, except as otherwise
required by law, the Company will not disclose or otherwise refer to the advice or information in any manner without A.G.P.’s
prior written consent.

 

SECTION
7. NO FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not
be construed as creating rights enforceable by any person or entity not a party hereto, except those entitled hereto by virtue
of the indemnification provisions hereof. The Company acknowledges and agrees that A.G.P. is not and shall not be construed as
a fiduciary of the Company and shall have no duties or liabilities to the equity holders or the creditors of the Company or any
other person by virtue of this Agreement or the retention of A.G.P. hereunder, all of which are hereby expressly waived.

 

SECTION
8. CLOSING. The obligations of A.G.P., and the closing of the sale of the
Placement Agent Securities hereunder are subject to the accuracy, when made and on the Closing Date, of the representations and
warranties on the part of the Company contained herein and in the Purchase Agreement, to the performance by the Company of its
obligations hereunder, and to each of the following additional terms and conditions, except as otherwise disclosed to and acknowledged
and waived by A.G.P.:

 

A. All
corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of
this Agreement, the Placement Agent Securities, and all other legal matters relating to this Agreement and the transactions contemplated
hereby with respect to the Placement Agent Securities shall be reasonably satisfactory in all material respects to A.G.P.

 

B. A.G.P.
shall have received from outside counsel to the Company such counsel’s written opinion with respect to the Placement Agent
Securities, addressed to A.G.P. and dated as of the Closing Date, in form and substance reasonably satisfactory to A.G.P.

 

C. The
Shares shall be registered under the Exchange Act. The Company shall have taken no action designed to, or likely to have the effect
of terminating the registration of the Common Stocks under the Exchange Act or delisting or suspending from trading the Shares
from the Trading Market or other applicable U.S. national exchange, nor has the Company received any information suggesting that
the Commission or the Trading Market or other U.S. applicable national exchange is contemplating terminating such registration
or listing.

  

    4

     

    

 

D. No
action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental
agency or body which would, as of the Closing Date, prevent the issuance or sale of the Placement Agent Securities or materially
and adversely affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining
order or order of any other nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing
Date which would prevent the issuance or sale of the Placement Agent Securities or materially and adversely affect or potentially
and adversely affect the business or operations of the Company.

 

E. The
Company shall have entered into a Purchase Agreement with each of the Purchasers of the Placement Agent Securities and such agreements
shall be in full force and effect and shall contain representations, warranties and covenants of the Company as agreed upon between
the Company and the Purchasers.

 

F. FINRA
shall have raised no objection to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition,
the Company shall, if requested by A.G.P., make or authorize A.G.P.’s counsel to make on the Company’s behalf, any
filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 2710 with respect to the Placement and pay all filing
fees required in connection therewith.

 

If
any of the conditions specified in this Section 8 shall not have been fulfilled when and as required by this Agreement, all obligations
of A.G.P. hereunder may be cancelled by A.G.P. at, or at any time prior to, the Closing Date. Notice of such cancellation shall
be given to the Company in writing or orally. Any such oral notice shall be confirmed promptly thereafter in writing.

 

SECTION
9.  GOVERNING LAW. This Agreement will be governed by, and construed in accordance
with, the laws of the State of New York applicable to agreements made and to be performed entirely in such State. This Agreement
may not be assigned by either party without the prior written consent of the other party. This Agreement shall be binding upon
and inure to the benefit of the parties hereto, and their respective successors and permitted assigns. Any right to trial by jury
with respect to any dispute arising under this Agreement or any transaction or conduct in connection herewith is waived. Any dispute
arising under this Agreement may be brought into the courts of the State of New York or into the Federal Court located in New
York, New York and, by execution and delivery of this Agreement, the Company hereby accepts for itself and in respect of its property,
generally and unconditionally, the jurisdiction of aforesaid courts. Each party hereto hereby irrevocably waives personal service
of process and consents to process being served in any such suit, action or proceeding by delivering a copy thereof via overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by law. If either party shall commence an action
or proceeding to enforce any provisions of this Agreement, then the prevailing party in such action or proceeding shall be reimbursed
by the other party for its attorney’s fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such action or proceeding.

   

    5

     

    

 

SECTION
10. ENTIRE AGREEMENT/MISCELLANEOUS. This Agreement embodies the entire agreement and understanding
between the parties hereto, and supersedes all prior agreements and understandings, relating to the subject matter hereof. If
any provision of this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect
such provision in any other respect or any other provision of this Agreement, which will remain in full force and effect. This
Agreement may not be amended or otherwise modified or waived except by an instrument in writing signed by both A.G.P. and the
Company. The representations, warranties, agreements and covenants contained herein shall survive the Closing Date of the Placement
and delivery of the Placement Agent Securities. This Agreement may be executed in two or more counterparts, all of which when
taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by
each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the
event that any signature is delivered by facsimile transmission or a .pdf format file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such facsimile or .pdf signature page were an original thereof.

 

SECTION
12. NOTICES. Any and all notices or other communications or deliveries required or permitted to be provided
hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such
notice or communication is sent to the email address specified on the signature pages attached hereto prior to 6:30 p.m. (New
York City time) on a business day, (b) the next business day after the date of transmission, if such notice or communication is
sent to the email address on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New
York City time) on any business day, (c) the third business day following the date of mailing, if sent by U.S. internationally
recognized air courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address
for such notices and communications shall be as set forth on the signature pages hereto.

 

SECTION
13. Press Announcements. The Company agrees
that A.G.P. shall, on and after the Closing Date, have the right to reference the Placement and A.G.P.’s role in connection
therewith in A.G.P.’s marketing materials and on its website and to place advertisements in financial and other newspapers
and journals, in each case at its own expense.

 

[The
remainder of this page has been intentionally left blank.]

  

    6

     

    

 

Please
confirm that the foregoing correctly sets forth our agreement by signing and returning to A.G.P. the enclosed copy of this Agreement.

 

	 	Very
    truly yours,
	 	 
	 	A.G.P./ALLIANCE
    GLOBAL PARTNERS
	 	 
	 	By:	/s/: Davod Bocchi
	 	 	Name: 	 David Bocchi
	 	 	Title: 	Head of Investment Banking
	 	 
	 	Address
    for notice:
	 	590
        Madison Avenue 36th Floor

        New
        York, New York 10022

        Attn:
        David Bocchi

        Email:
        db@allianceg.com 

 

[Signature
Page to Placement Agency Agreement.]

    7

     

    

 

	Accepted
and Agreed to as of

the date first written above:
	 
	 	CELLECT
BIOTECHNOLOGY LTD.
	 	 
	 	By:	/s/: Eyal Leibovitz
	 	 	Name:
Eyal Leibovitz    
	 	 	Title:
    Chief Financial Officer
	 	 
	 	Address
    for notice:
	 	23
        Hata’as Street

        Kfar
        Saba L3

        Israel
        44425

        

Attn: Eyal Leibovitz

Email: eyal@cellect.co

 

[Signature
Page to Placement Agency Agreement.]

 

 

8EXHIBIT 10.1

 

Execution Version

 

TRANSITION AND CONSULTING AGREEMENT

 

This Transition and
Consulting Agreement (the “Agreement”), dated effective as of January 10, 2020 (the “Effective Date”),
is entered into by and between Gerald R. Mattys (“Employee”), and Tactile Systems Technology, Inc., a Delaware corporation
(the “Company”).

 

RECITALS

 

WHEREAS, the
Company is engaged in the business of developing, marketing and distributing computer software products and services; and

 

WHEREAS, Employee
is currently employed by the Company as the Company’s Chief Executive Officer; and

 

WHEREAS, Employee
and the Company are parties to a Confidentiality, Assignment of Intellectual Property and Restrictive Covenants Agreement dated
effective as of November 1, 2018 (the “Restrictive Covenants Agreement”); and

 

WHEREAS, as
of the Effective Date, Employee holds options to purchase shares of common stock of the Company and holds performance share unit
awards and restricted stock unit awards, pursuant to written option agreements, performance share unit agreements and restricted
stock unit agreements, as applicable (the “Equity Awards”), as summarized in the attached Exhibit A to this
Agreement.

 

WHEREAS, Employee
and the Company have agreed that Employee intends to retire from the Company effective no later than December 31, 2020.

 

WHEREAS, Employee
and the Company have agreed that following the Effective Date, Employee shall remain employed with the Company and otherwise provide
services to the Company under the terms of this Agreement in order to facilitate a smooth transition for the Company.

 

WHEREAS, Employee
and the Company have mutually agreed to conclude their employment relationship amicably, but mutually recognize that such a relationship
may give rise to potential claims or liabilities.

 

NOW THEREFORE,
in consideration of the mutual promises and provisions contained in this Agreement, the First Release and the Second Release referred
to below, Employee and the Company, intending to be legally bound, agree as follows:

 

AGREEMENT

 

1.       Retirement.
Employee hereby confirms his retirement and resignation as an officer and employee of the Company and any of its
subsidiaries and affiliates, effective as of the last day of employment with the Company determined by Employee (the
 “Retirement Date”), which shall be no later than December 31, 2020. At the time Employee determines his
Retirement Date, he shall give the Company written notice of the date, which notice shall be at least 30 days in advance of
the date. Subject to the terms and conditions of this Agreement, the Company agrees to continue Employee’s employment,
and Employee accepts continued employment by the Company, for the period (the “Transition Term”) commencing on
the Effective Date and continuing until the earliest of (i) the Retirement Date, or (ii) the date of Employee’s death
or disability as defined in Section 409A(a)(2)(c) of the Internal Revenue Code (“Disability” or
 “Disabled”), or (iii) the date on which Employee’s employment with the Company is terminated voluntarily by
Employee, or (iv) the date on which Employee’s employment is terminated by the Company in accordance with Section 2(d)
below. The effective date of the termination of Employee’s employment with the Company for any reason is referred to
herein as the “Separation Date.” For purposes of Section 5(a), with respect to the timing of any payments
thereunder following the termination of Employee’s employment with the Company for any reason other than due to
Employee’s death or Disability, the Separation Date means the date on which a “separation from service” has
occurred for purposes of Section 409A of the Internal Revenue Code, as amended, and the regulations and guidance
thereunder (the “Code”). Unless Employee’s employment with the Company is terminated before the Retirement
Date as a result of Employee’s death or Disability, or voluntarily by Employee, or by the Company terminating
Employee’s employment in accordance with Section 2(d) below, Employee’s employment with the Company will
automatically end effective as of the end of the day on the Retirement Date and such date will be the Separation Date.
Employee shall not have any other employment or engage in any other business venture during the Transition Term.

 

     

     

    

 

2.       Employment
Terms During Transition.

 

(a)       Scope
of Engagement. Subject to the terms and conditions of this Agreement, Employee agrees to remain in the employ of the Company,
and the Company agrees to continue Employee’s employment, for the duration of the Transition Term. During the Transition
Term, Employee shall continue to report to the Company’s Board of Directors (the “Board”). Employee shall continue
to hold the position and title of Chief Executive Officer of the Company until such time as the Board in its sole discretion appoints
a new Chief Executive Officer or otherwise determines in its sole discretion to remove Employee from the position and title of
Chief Executive Officer. As Chief Executive Officer, Employee’s duties and responsibilities shall be consistent with the
duties and responsibilities held by Employee immediately prior to the Effective Date; provided, however, that the Board may limit
or define the scope of Employee’s duties and responsibilities in its sole discretion during the Transition Term. Upon the
Company’s appointment of Employee’s replacement as Chief Executive Officer, or such other time as the Board otherwise
determines in its sole discretion to remove Employee from the position and title of Chief Executive Officer, and for the remainder
of the Transition Term, Employee’s title shall change to such title as determined by the Board and he shall continue to report
to the Board and shall be responsible for providing such transition assistance and for special project matters as may be requested
by the Board. During the Transition Term, Employee shall follow all applicable policies and procedures adopted by the Company from
time to time, including without limitation policies relating to business ethics, conflict of interest, non-discrimination and non-harassment,
respectful behavior, and confidentiality and protection of trade secrets. Employee shall not, without the Company’s prior
written consent, accept other employment or engage in other business activities during the Transition Term that would prevent Employee
from fulfilling the duties or responsibilities as set forth in or contemplated by this Agreement. Employee hereby represents and
confirms that Employee is under no contractual or legal commitments that would prevent Employee from fulfilling Employee’s
duties and responsibilities as set forth in this Agreement.

 

(b)       Pay
and Benefits. During the Transition Term, the Company will pay Employee a base salary at the same base salary rate in
effect for Employee on the Effective Date, subject to normal withholdings and payable in accordance with the Company’s
normal payroll practices. In addition, the Company will pay Employee a pro-rata incentive bonus for the Company’s
fiscal year 2020 based on the Company’s actual performance for the period from January 1, 2020 through the end of the
Transition Term, equal to the product of (i) the incentive bonus for the Company’s full fiscal year 2020 that Employee
would have earned had Employee remained employed as the Company’s Chief Executive Officer through the end of the
Company’s fiscal year 2020, multiplied by (ii) a fraction, the numerator of which is the number of calendar days during
the Company’s fiscal year 2020 included in the Transition Term, and the denominator of which is 365, to be determined
and paid between January 1, 2021 and March 30, 2021. In addition, during the Transition Term Employee shall participate in
such employee benefit plans and programs for which he may be eligible and in which he participated on the Effective Date,
pursuant to the terms and conditions of such plans; provided, however, that, except as provided above, Employee will not be
eligible for any incentive or other cash-based compensation award or any form of equity-based compensation award for the
Company’s fiscal year 2020. Employee acknowledges and agrees that, per Company policy, Employee does not accrue paid
time off and will not be entitled to any payment for accrued and unused paid time off upon conclusion of the Transition
Term.

 

    2

     

    

 

(c)       Expenses.
The Company shall reimburse Employee for all reasonable and necessary out-of-pocket business, travel and entertainment expenses
incurred by him in the performance of his duties and responsibilities for the Company during the Transition Term, subject to the
Company’s normal policies and procedures for employee expense verification and documentation.

 

(d)       Early Termination.
Notwithstanding anything in this Agreement to the contrary, Employee’s employment hereunder may be terminated before
the Retirement Date by the Company with or without Cause (as defined below) or by Employee for any reason; provided, however,
the Company may not terminate Employee’s employment without Cause: (i) before such time as the Board in its sole discretion
appoints a new Chief Executive Officer or otherwise determines in its sole discretion to remove Employee from the position and
title of Chief Executive Officer, or (ii) if the Company enters into a definitive agreement for a Change in Control during the
Transition Term, then after the Company enters into such agreement and before the date such Change in Control is consummated (provided
such Change in Control is consummated within the 12-month period following the date the Company enters into such agreement). If
the Company terminates Employee’s employment with the Company before the Retirement Date for any reason other than Cause,
then, subject to Employee satisfying all conditions identified in Section 5 below, including without limitation Employee signing
and not rescinding a release in a form substantially the same as the Second Release (as defined below) after the Separation Date,
the Company will retain Employee as a consultant during the Consulting Period (as defined below), subject to the conditions identified
in Section 5 below. For purposes of this Agreement, “Cause” means (i) an act or acts of dishonesty undertaken by Employee
and intended to result in personal gain or enrichment of Employee or others at the expense of the Company; (ii) unlawful conduct
or gross misconduct by Employee that, in either event, is materially injurious to the Company; (iii) Employee being convicted
of a felony; or (iv) any material breach by Employee of any terms or conditions of this Agreement, the Restrictive Covenants Agreement
or any other written agreement between Employee and the Company which breach has not been cured by Employee within fifteen (15)
days after written notice thereof to Employee from the Company; provided, however, that for the purposes of clauses (ii) and (iv)
above, no act or failure to act on Employee’s part shall be considered “Cause” if done by Employee pursuant
to specific authorization evidenced by a resolution duly adopted by the Board or pursuant to specific advice given by counsel
for the Company, unless such specific authorization or advice results in whole or in part from material misrepresentations or
omissions by Employee. For avoidance of doubt, Employee acknowledges and agrees that, as of the Effective Date, this Agreement
supersedes and replaces Employee eligibility for any severance benefits under the Tactile Systems Technology, Inc. Executive Employee
Severance Plan (the “Plan”), and that as of the Effective Date Employee has been designated by the Board to no longer
be a participant in the Plan.

 

3.       Equity
Awards.  Employee acknowledges and agrees that the spreadsheet set forth as Exhibit A is an accurate list of
all option grants, performance share unit awards, restricted stock unit awards and other equity-based awards received by
Employee during his employment with the Company, and that he has no other equity or equity-based compensation rights with
respect to the Company or any affiliate. The Equity Awards shall continue to be governed by the terms and conditions set
forth in the applicable written stock option, performance share unit agreements and restricted stock unit agreements. The
Company agrees that the plans and agreements for the Equity Awards provide for continued vesting of the Equity Awards, and
continued exercisability of stock options included in the Equity Awards, through the end of the Transition Term and the end
of the Consulting Period so long as Employee continues providing services to the Company as provided under the Equity
Awards.

 

    3

     

    

 

4.       First
and Second Release. At the same time Employee signs this Agreement, he also will sign a release in the form attached to
this Agreement as Exhibit B (the “First Release”). If, on or within 21 days after the Separation Date (provided
Employee’s employment is not terminated by the Company for Cause before the Retirement Date) Employee executes a second release
in the form attached to this Agreement as Exhibit C (the “Second Release”), then Employee will be eligible for
the additional consideration as set out in Sections 5(a) and 5(b) below. This Agreement will not be interpreted or construed to
limit the First Release or the Second Release in any manner. The existence of any dispute related to the interpretation of this
Agreement or the alleged breach of this Agreement will not nullify or otherwise affect the validity or enforceability of the First
Release or the Second Release.

 

5.       Consulting
Period. Provided that (1) Employee’s employment is not terminated by the Company for Cause before the Retirement
Date, or by Employee’s voluntary termination or death before the Retirement Date, (2) Employee signs and does not rescind
this Agreement and the First Release, (3) Employee strictly complies with all of Employee’s obligations under this Agreement
and the Restrictive Covenants Agreement during the entire Transition Term, and (4) Employee signs and does not rescind the Second
Release in accordance with Section 4, the Company shall engage Employee, and Employee shall be available and shall provide services
to the Company, as a consultant from the Separation Date through the earlier of (i) (A) the one (1) year anniversary of the Separation
Date, or (B) March 31, 2021, whichever is later, or (ii) the date the Company terminates the consulting arrangement for Cause,
or because Employee fails to satisfy any of the material conditions identified in this Section 5 (the “Consulting Period”).

 

(a)       Compensation. As
compensation for Employee’s services during the Consulting Period, the Company shall pay Employee a consulting fee in
the amount of $35,175.00 per month (prorated for any partial month of services provided by Employee during the Consulting
Period), such consulting fee to be paid on or about the last business day of each month during the Consulting Period;
provided, however, that if the Consulting Period commences following the termination of Employee’s employment with the
Company for any reason other than due to Employee’s death or Disability, then the first installment of consulting fees
shall be delayed until the first business day after the earlier of: (i) the six (6) month anniversary of the Separation Date,
or (ii) the date of Employee’s death, and shall include a lump sum payment for the amount that was not paid during the
period of the delay. The Company shall also reimburse or pay Employee for all reasonable and necessary business expenses
incurred by him in providing such consulting services, upon submission of appropriate documentation and provided that
Employee shall first obtain prior written approval for any expense. The monthly compensation shall be payable to Employee as
1099 income as an independent contractor and not W-2 incomes as an employee, and Employee shall be solely responsible for
payment of any and all income, employment or other taxes owing with respect to compensation paid under this Section 5. For
avoidance of doubt, during the Consulting Period Employee will not be an employee of the Company, and will not be entitled to
any bonus compensation or other compensation, benefits or equity-based awards provided to employees of the Company.

 

    4

     

    

 

(b)       COBRA
Payments. In addition to the compensation identified in Section 5(a) above, and subject to the same conditions identified in
the first paragraph of this Section 5, if Employee is eligible for and takes all steps necessary to continue Employee’s group
health insurance coverage with the Company following the Separation Date (including completing and returning the forms necessary
to elect COBRA coverage), the Company will pay for the portion of the premium costs for such coverage that the Company would pay
if Employee remained employed by the Company, at the same level of coverage that was in effect as of the end of the Transition
Term, through the earliest of: (i) the eighteen (18) month anniversary of the Separation Date, (ii) the date Employee becomes eligible
for group health insurance coverage from any other employer, or (iii) the date Employee is no longer eligible to continue Employee’s
group health insurance coverage with the Company under applicable law.

 

(c)       Services.
During the Consulting Period, Employee will consult with, advise and assist the Company with respect to the transition of Employee’s
duties and responsibilities as an employee to others, including periodic meetings with the Company’s new Chief Executive
Officer or the Company’s new Chief Executive Officer’s designee(s), working on employee morale and consulting with
respect to other matters about which Employee had knowledge or responsibility during his employment with the Company. It is anticipated
that Employee be available for up to thirty (30) hours per month during the Consulting Period to perform services consistent with
this Section 5(c). The Company agrees that Employee shall be allowed to perform his services remotely unless his physical presence
is reasonably required for a specific meeting or task. Employee shall receive reasonable advance notice any time his physical presence
is reasonably required. Without limiting the foregoing, at the Company’s reasonable request, Employee will: (i) timely execute
and deliver such acknowledgements, instruments, certificates, and other ministerial documents (including without limitation, certification
as to specific actions performed by Employee in his capacity as an officer of the Company) as may be necessary or appropriate to
formalize and complete the applicable corporate records; (ii) reasonably consult with the Company regarding business matters that
he was directly and substantially involved with while employed by the Company; and (iii) be reasonably available, with or without
subpoena, to be interviewed, review documents or things, give depositions, testify, or engage in other reasonable activities in
connection with any litigation or investigation, with respect to matters that Employee has or may have knowledge of by virtue of
his employment by or service to the Company or any related entity. In performing his obligations under this Section 5(c) to testify
or otherwise provide information, Employee will honestly, truthfully, forthrightly, and completely provide the information requested.
Employee will comply with this Agreement upon reasonable notice from the Company that the Company or its attorneys believe that
his compliance would be helpful in the resolution of an investigation or the prosecution or defense of claims.

 

(d)       Restrictions.

 

(i)        During
the Consulting Period, Employee shall not, directly or indirectly (including without limitation as a proprietor, principal, agent,
partner, officer, director, stockholder, employee, member of any association, consultant or otherwise): (A) solicit, request, advise,
induce or influence any employee of the Company or induce or attempt to induce any employee of the Company to cease working for
the Company; or (B) interfere with any relationships between the Company and its vendors, suppliers, customers, employees or agents.

 

    5

     

    

 

(ii)        During
the Consulting Period, Employee shall not, directly or indirectly, render any services for or on behalf of, or act as an employee,
owner, partner, consultant, or agent of, any person or organization engaged in, or about to become engaged in, research, development,
production, marketing or selling of any product, process or service in which the Employee was involved in any capacity, or about
which Employee obtained confidential information while employed by the Company.

 

(e)       Cure
Period. If the Company believes that Employee has breached or otherwise not performed his obligations during the Consulting
Period, before terminating Employee’s consulting services the Company agrees to give Employee written notice of the facts
it believes constitute the non-performance and to give Employee 15 days to cure the alleged non-performance. If Employee fails
to cure the alleged non-performance within this 15-day period, then the Company may immediately terminate the consulting arrangement
set forth in this Section 5 (and therefore terminate the Consulting Period) upon written notice and without further obligation
to pay Employee any consulting fee for periods following the date of such termination.

 

(f)       No
Restriction on Acceptance of Other Employment and/or Consulting Contracts.  Nothing in this Section 5 is intended to, nor shall
be construed to, limit Employee’s ability to accept employment from or to provide consulting or board services to any third
party during the Consulting Period, provided that becoming employed by or providing services to any business listed in Section
5(d) shall have the consequences set forth in Section 5(e).

 

(g)       Payments
on Death or Disability. If Employee dies during the Transition Term, the consulting fees payable under Section 5(a) shall be
paid for 12 months to his surviving spouse, or to his estate if he has no surviving spouse. If Employee dies during the Consulting
Term, any remaining consulting fees shall be paid to his surviving spouse, or to his estate if he has no surviving spouse. In addition,
if Employee dies during the Transition Term or the Consulting Term and has a surviving spouse, she shall receive the COBRA Payments
described in Section 5(b). If Employee becomes Disabled during the Transition Term or the Consulting Term, as defined in Section
409A of the Code, he shall continue to receive all of the compensation and benefits that would be paid to him through the end of
the Consulting Term if he were not Disabled, minus the amount of any disability benefits paid under any of the Company’s
disability benefit plans.

 

(h)       Change
in Control. If, during the Transition Term and while Employee is serving as an employee under this Agreement, (i) a Change
in Control, as defined in the Company’s 2016 Equity Incentive Plan, is  consummated, or (ii) the Company enters into
a definitive agreement for a Change in Control which is consummated within the 12-month period following the date the Company enters
into such agreement, then: (A) the Company shall pay Employee, upon the closing of the Change in Control, a lump sum payment equal
to the sum of (1) two (2) times his then-current annual salary or annual consulting fee, plus (2) two (2) times Employee’s
last full annual incentive bonus payment, subject to withholding under Section 10, (B) the Company shall provide to Employee the
COBRA Payments described in Section 5(b), and (C) all unvested Equity Awards shall be treated as set forth in the Plan as if Employee
was still subject to the Plan. Such payments and the treatment of unvested Equity Awards shall be in lieu of any remaining salary,
bonus, consulting fees or other benefits that otherwise would be due under this Agreement absent the occurrence of an event triggering
such payments and the treatment of unvested Equity Awards under this Section 5(h). Employee agrees that in order to receive the
benefits following an event under clause (ii) above, Employee must not resign his position as Chief Executive Officer prior to
the consummation of the Change in Control, and any prior notice of resignation that has not yet become effective is deemed revoked.

 

    6

     

    

 

6.       Restrictive
Covenants Agreement. Employee acknowledges entering into the Restrictive Covenants Agreement in exchange for adequate consideration,
and Employee hereby reaffirms his commitments and obligations under the Restrictive Covenants Agreement. In addition, Employee
hereby agrees that the restricted period identified in paragraph 4(b) of the Restrictive Covenants Agreement is hereby extended
to include the entire Transition Term, the entire Consulting Period and through the period that is one (1) year after the end of
the Transition Term or the Consulting Period (whichever is later). Except as provided in this Section 6, nothing in this Agreement
is intended to modify, amend, cancel or supersede the Restrictive Covenants Agreement in any manner.

 

7.       Records,
Documents, and Property. Employee acknowledges and represents that he will deliver to the Company on or before the conclusion
of the Transition Term, or at such earlier time as the Company may request, any and all Company records and any and all Company
property in his possession or under his control, including without limitation, manuals, books, blank forms, documents, letters,
memoranda, notes, notebooks, reports, printouts, computer disks, computer tapes, data, tables, or calculations and all copies thereof,
documents that in whole or in part contain any trade secrets or confidential, proprietary, or other secret information of the Company
and all copies thereof, and keys, access cards, access codes, source codes, passwords, credit cards, personal computers, telephones,
and other electronic equipment belonging to the Company. Employee agrees to return to the Company any and all Company property
that may be provided to him by the Company during the Consulting Period immediately upon the end of the Consulting Period, or at
such earlier time as the Company may request. Nothing in this Section 7 is intended to preclude Employee from keeping documents
that are related solely to his compensation, benefits, rights, and other perquisites of being an officer and/or employee of the
Company and/or its subsidiaries.

 

8.       Cooperation.

 

(a)         Agreement
to Assist and Cooperate. At the Company’s reasonable request and upon reasonable notice, Employee will, from time to
time and without further consideration, following the Transition Term and the Consulting Period (if applicable), timely execute
and deliver such acknowledgements, instruments, certificates, and other ministerial documents (including without limitation, certification
as to specific actions performed by Employee in his capacity as an officer of the Company) as may be necessary or appropriate to
formalize and complete the applicable corporate records. In addition, at the Company’s reasonable request and upon reasonable
notice, Employee will, from time to time and without further consideration, following the Transition Term and the Consulting Period
(if applicable) discuss and consult with the Company regarding business matters that he was directly and substantially involved
with while employed by or otherwise providing services to the Company.

 

(b)       Claims
Involving the Company. Employee agrees that he will, at any future time, be available upon reasonable notice from the
Company, with or without subpoena, to be interviewed, review documents or things, give depositions, testify, or engage in
other reasonable activities in connection with any litigation or investigation, with respect to matters that Employee has or
may have knowledge of by virtue of his employment by or service to the Company or any related entity. In performing his
obligations under this Section 8(b) to testify or otherwise provide information, Employee will honestly, truthfully,
forthrightly, and completely provide the information requested. Employee will comply with this Agreement upon notice from the
Company that the Company or its attorneys believe that his compliance would be helpful in the resolution of an investigation
or the prosecution or defense of claims. In the event that Employee’s services under Sections 8(a) or 8(b) exceed five
(5) hours in any calendar month following the conclusion of the Transition Term and the Consulting Period (if applicable),
the Company shall compensate Employee for such additional services at the hourly rate of $250.00.

 

    7

     

    

 

9.       Non-disparagement.
Employee will not malign, defame, or disparage the reputation, character, image, products, or services of the Company, or the reputation
or character of the Company’s directors, officers, employees, or agents. The Company will direct its current directors and
officers not to malign, defame, or disparage the reputation or character of Employee. Nothing in this Agreement is intended to
prevent or interfere with Employee or any director or officer of the Company from making any required or reasonable truthful communications
with, or providing information to, any governmental, law enforcement, or stock exchange agency or representative, or in connection
with any governmental investigation, court, administrative or arbitration proceeding, or to prevent or interfere with any director
or officer of the Company from making any required or reasonable truthful communications in the discharge of their duties for the
Company.

 

10.     Taxes.
 The Company may take such action as it deems appropriate to ensure that all applicable federal, state, city and other payroll,
withholding, income or other taxes arising from any compensation, benefits or any other payments made pursuant to this Agreement,
and in order to comply with all applicable federal, state, city and other tax laws or regulations, are withheld or collected from
Employee. This Agreement is intended to satisfy or be exempt from the requirements of Section 409A(a)(2), (3) and (4) of the Code,
and should be interpreted accordingly. To the extent that any amounts payable under this Agreement are required to be delayed under
Code Section 409A, such amounts are intended to be and should be considered for purposes of Code Section 409A as separate payments
from any amounts that are not required to be delayed. Any delayed payment shall be made as soon as possible after the required
delay. Employee acknowledges and agrees that the Company has made no assurances or representations to him regarding the tax treatment
of any consideration provided for in this Agreement and that the Company has advised him to obtain his own personal tax advice,
and Employee has done so. Except for any tax amounts withheld by the Company from the payments or other consideration hereunder
and any employment taxes required to be paid by the Company, Employee shall be solely responsible for payment of any and all taxes
or penalties owed in connection with the consideration provided for in this Agreement.

 

11.     Time
to Consider Agreement and the First Release. Employee understands that he may take twenty-one (21) calendar days after
the date he receives this Agreement and the First Release to decide whether to sign this Agreement and the First Release. Employee
represents that if he signs this Agreement and the First Release before the expiration of the twenty-one (21) day period, it is
because he has decided that he does not need any additional time to decide whether to sign this Agreement and the First Release.

 

12.     Right
to Rescind or Revoke. Employee understands that he has the right to rescind or revoke this Agreement and the First Release
for any reason within fifteen (15) calendar days after he signs them. Employee understands that this Agreement and the First Release
will not become effective or enforceable unless and until Employee has not rescinded them and the applicable rescission period
has expired. Employee understands that if he rescinds or revokes this Agreement or the First Release, the rescission must be in
writing and hand-delivered or mailed to the Company in the manner set forth in the First Release.

 

13.     Full
Compensation. Employee acknowledges and understands that the payments made and other consideration provided by the
Company under this Agreement will fully compensate Employee for and extinguish any and all of the potential claims Employee
is releasing in the First Release and the Second Release, including without limitation, his claims for attorneys’ fees
and costs and any and all claims for any type of legal or equitable relief.

 

    8

     

    

 

14.     No
Admission of Wrongdoing. Employee and the Company each understand and agree that this Agreement does not constitute an
admission that the Company has violated any local ordinance, state or federal statute, or principle of common law, that any party
has engaged in any unlawful or improper conduct, or that either party has been treated unfairly. Employee will not characterize
this Agreement as an admission that the Company has engaged in any unlawful or improper conduct or treated Employee unfairly.

 

15.     Legal
Representation. Employee acknowledges that he has been advised by the Company to consult with his own attorney before executing
this Agreement and the First Release. Employee further acknowledges that he has had a full opportunity to consider this Agreement,
the First Release and the Second Release, that he has had a full opportunity to ask any questions that he may have concerning this
Agreement, the First Release and the Second Release, or the settlement of any potential claims against the Company, and that he
has not relied upon any statements or representations made by the Company or its attorneys, written or oral, other than the statements
and representations that are explicitly set forth in this Agreement and the documents referenced herein.

 

16.     Assignment
and Successors. The rights and obligations of the Company under this Agreement shall inure to the benefit of and shall
be binding upon the successors and assigns of the Company. Employee may not assign this Agreement or any rights or obligations
hereunder, except as provided herein in the case of his death, and except as provided by the Equity Awards and the Company’s
other benefit plans and policies in the case of his death. Any other purported or attempted assignment or transfer by Employee
of this Agreement or any of Employee’s duties, responsibilities, or obligations hereunder shall be void. The Company will
require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all
of its business and/or assets to assume expressly and agree to perform this Agreement in the same manner and to the same extent
that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company”
shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees
to perform this Agreement by operation of law, or otherwise.

 

17.    Notices.
For purposes of this Agreement, notices provided in this Agreement shall be in writing and shall be deemed to have been given when
personally served, sent by courier or mailed by United States registered or certified mail, return receipt requested, postage prepaid,
to the last known residence address of Employee as stated in the employment records of the Company or, in the case of the Company,
to its principal office, to the attention of the Company’s Board Chair, or to such other address as either party may have
furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon
receipt.

 

18.     Construction
and Severability. The validity, interpretation, performance, and enforcement of this Agreement shall be governed by
the laws of the State of Minnesota without regard to conflicts-of-laws provisions that would require application of any other
law. In the event any provision of this Agreement shall be held illegal or invalid for any reason, said illegality or
invalidity will not in any way affect the legality or validity of any other provision hereof. It is the intention of the
parties hereto that the Company be given the broadest possible protection respecting its confidential information and trade
secrets; and respecting competition and solicitation of employees by Employee during and following the Transition Term.

 

    9

     

    

 

19.     Remedies.

 

(a)       Remedies.
Employee acknowledges that it would be difficult to fully compensate the Company for monetary damages resulting from any breach
by him of the provisions Sections 5, 6, 7, 8 or 9 of this Agreement. Accordingly, in the event of any actual or threatened breach
of any such provisions, the Company shall, in addition to any other remedies it may have, be entitled to injunctive and other equitable
relief to enforce such provisions, and such relief may be granted without the necessity of proving actual monetary damages.

 

(b)       Jurisdiction
and Venue. Employee and the Company consent to jurisdiction of the courts of the State of Minnesota and/or the federal
district courts, District of Minnesota, for the purpose of resolving all issues of law, equity, or fact arising out of or in connection
with this Agreement. Any action involving claims of a breach of this Agreement, the First Release or the Second Release shall be
brought solely in such courts. Each party consents to personal jurisdiction over such party in the state and/or federal courts
of Minnesota and hereby waives any defense of lack of personal jurisdiction. Venue, for the purpose of all such suits commenced
in state court, shall be in Hennepin County, State of Minnesota.

 

20.     Entire
Agreement. This Agreement sets forth the entire agreement between the Company and Employee with respect to his employment
by the Company, the termination of such employment, and the Transition Term and the Consulting Period, and there are no undertakings,
covenants, or commitments other than as set forth in this Agreement, the First Release, the Second Release, the written agreements
applicable to the Equity Awards, the Restrictive Covenants Agreement (as amended by Section 6 of this Agreement), and any qualified
employee benefit plans sponsored by the Company in which Employee is a participant. This Agreement is intended to, and does, supersede
and replace the Plan, and therefore the Plan is of no further force and effect as to him, and Employee has no rights under the
Plan. This Agreement may not be altered or amended, except by a writing executed by the party against whom such alteration or amendment
is to be enforced.

 

21.     Counterparts.
This Agreement may be simultaneously executed in any number of counterparts, and such counterparts executed and delivered, each
as an original, shall constitute but one and the same instrument.

 

22.     Captions
and Headings. The captions and Section (and subsection) headings used in this Agreement are for convenience of reference
only, and shall not affect the construction or interpretation of this Agreement or any of the provisions hereof.

 

23.     Survival.
The parties expressly acknowledge and agree that the provisions of this Agreement which by their express or implied terms extend
beyond the termination of Employee’s employment hereunder, including without limitation Section 5, 6, 7, 8 and 9 of this
Agreement, shall continue in full force and effect, notwithstanding the conclusion of the Transition Term or Consulting Period
(if applicable). In addition, the representations and warranties contained herein shall survive the execution and delivery hereof
and the consummation of the transactions contemplated hereby.

 

24.     Waivers.
No failure on the part of either party to exercise, and no delay in exercising, any right or remedy hereunder shall operate
as a waiver thereof; nor shall any single or partial exercise of any right or remedy hereunder preclude any other or further
exercise thereof, or the exercise of any other right or remedy granted hereby or by any related document or by law. No single
or partial waiver of rights or remedies hereunder, nor any course of conduct of the parties, shall be construed as a waiver
of rights or remedies by either party (other than as expressly and specifically waived). Any waiver of rights or obligations
hereunder shall be in writing signed by the waiving party.

 

[signature page follows]

 

    10

     

    

 

IN WITNESS WHEREOF,
the parties have signed this Agreement as of the date set forth above.

 

	Tactile Systems Technology, Inc.	 	GERALD R. MATTYS
	 	 	 
	By:	/s/ Brent A. Moen	 	/s/ Gerald R. Mattys
	 	Brent A. Moen	 	Signature 
	 	Its CFO	 	 

 

    11

     

    

 

Exhibit A

 

EQUITY AWARDS

 

	GRANT ID	 	AWARD
 TYPE	 	SHARES
 GRANTED	 	 	GRANT DATE
	00001395	 	ISO	 	 	177,302	 	 	10/14/2013
	00001603	 	NQ	 	 	20,056	 	 	02/28/2018
	00001706	 	NQ	 	 	13,041	 	 	03/04/2019
	PSU00001	 	PU	 	 	15,451	 	 	02/28/2018
	PSU00011	 	PU	 	 	10,324	 	 	03/04/2019
	RSU00001	 	RSU	 	 	60,000	 	 	07/27/2016
	RSU00073	 	RSU	 	 	27,459	 	 	05/10/2017
	RSU00140	 	RSU	 	 	7,725	 	 	02/28/2018
	RSU00187	 	RSU	 	 	5,162	 	 	03/04/2019

 

    A-1

     

    

 

Exhibit B

 

FIRST RELEASE BY GERALD R. MATTYS

 

Definitions. I intend all
words used in this First Release by Gerald R. Mattys (“Release”) to have their plain meanings in ordinary English.
Specific terms that I use in this Release have the following meanings:

 

		A.	I, me, and my include both me (Gerald R. Mattys) and anyone who has or obtains
any legal rights or claims through me.

 

		B.	Tactile means Tactile Systems Technology, Inc., any company related to Tactile Systems Technology,
Inc., in the present or past (including without limitation, its predecessors, parents, subsidiaries, affiliates, joint venture
partners, and divisions), and any successors of Tactile Systems Technology, Inc.

 

		C.	Company means Tactile; the present and past officers,
directors, committees, shareholders, and employees of Tactile; any company providing insurance to Tactile in the present or past;
any employee benefit plan sponsored or maintained by Tactile (other than multiemployer plans) and the present and past fiduciaries
of such plans; the attorneys for Tactile; and anyone who acted on behalf of Tactile or on instructions from Tactile.

 

		D.	Restrictive Covenants Agreement means the Restrictive Covenants Agreement, as defined in
the Transition Agreement.

 

		E.	Transition Agreement means the Transition and Consulting Agreement between Tactile and me
that I am executing on the same date on which I execute this Release, including all of the documents attached to such Transition
and Consulting Agreement.

 

		F.	My Claims mean all of my rights that I now have to any relief of any kind from the Company,
whether I now know about such rights or not, including without limitation:

 

		1.	all claims arising out of or relating to my employment with Tactile or the termination of that
employment;

 

		2.	all claims arising out of or relating to the statements, actions, or omissions of the Company;

 

		3.	all claims for any alleged unlawful discrimination, harassment, retaliation or reprisal, or other
alleged unlawful practices arising under any federal, state, or local statute, ordinance, or regulation, including without limitation,
claims under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Older Workers Benefit Protection
Act, the Americans with Disabilities Act, 42 U.S.C. § 1981, the Employee Retirement Income Security Act, the Fair Credit Reporting
Act, the Equal Pay Act, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, the Sarbanes-Oxley
Act, the Minnesota Human Rights Act, the Minneapolis Civil Rights Ordinance, and workers’ compensation non-interference or
non-retaliation statutes (such as Minn. Stat. § 176.82);

 

    B-1

     

    

 

		4.	all claims for alleged wrongful discharge; breach of contract (including without limitation the
Plan, as defined in the Transition Agreement); breach of implied contract; failure to keep any promise; breach of a covenant of
good faith and fair dealing; breach of fiduciary duty; estoppel; my activities, if any, as a “whistleblower”; defamation;
infliction of emotional distress; fraud; misrepresentation; negligence; harassment; retaliation or reprisal; constructive discharge;
assault; battery; false imprisonment; invasion of privacy; interference with contractual or business relationships; any other wrongful
employment practices; and violation of any other principle of common law;

 

		5.	all claims for compensation of any kind, including without limitation, bonuses, commissions, stock-based
compensation, stock options or any form of equity-based compensation, vacation pay, paid time off, and expense reimbursements;

 

		6.	all claims for back pay, front pay, reinstatement, other equitable relief, compensatory damages,
damages for alleged personal injury, liquidated damages, and punitive damages; and

 

		7.	all claims that a past unlawful decision has or has had a continuing effect on my compensation;
and

 

		8.	all claims for attorneys' fees, costs, and interest.

 

However, My Claims do not
include (i) any claims that the law does not allow to be waived; (ii) any claims that may arise after the date on which I sign
this Release; (iii) any claims under the Equity Awards (as defined in the Transition Agreement), including as
provided in Section 5(h) of the Agreement (if applicable); (iv) any claims I have to indemnification as a current or former
executive-level employee of XXX; (v) any claims for breach of the Transition Agreement; (vi) any claims I may have for accrued
benefits under any employee benefit plan sponsored by the Company in which I am a participant; (vii) any claims as a shareholder
of the Company; or (viii) my right to participate in any government agency led investigation or legal proceeding against the Company;
provided, however, My Claims do include, to the fullest extent legally permissible, any right or entitlement to any form
of personal relief for me arising from any such claim.

 

Agreement to Release My Claims.
I will receive consideration from Tactile as set forth in the Transition Agreement if I sign and do not rescind this Release as
provided below. I understand and acknowledge that such consideration includes valuable consideration in addition to anything of
value that I would be entitled to receive from Tactile if I did not sign this Release or if I rescinded this Release. In exchange
for that consideration I give up and release all of My Claims. I will not make any demands or claims against the Company for compensation
or damages relating to My Claims. The consideration that I am receiving is a fair compromise for the release of My Claims. I understand
and agree that, with the exception of money provided to me by a governmental agency as an award for providing information, I am
not entitled to receive any money or other relief in connection with My Claims, regardless of who initiated or filed the charge
or other proceeding.

 

Additional Agreements and Understandings.
Even though Tactile will provide consideration for me to settle and release My Claims, the Company does not admit that it is responsible
or legally obligated to me. In fact, the Company denies that it is responsible or legally obligated to me for My Claims, denies
that it engaged in any unlawful or improper conduct toward me, and denies that it treated me unfairly.

 

    B-2

     

    

 

Advice to Consult with an Attorney.
I understand and acknowledge that I am hereby being advised by the Company to consult with an attorney prior to signing this Release.
My decision whether to sign this Release is my own voluntary decision made with full knowledge that the Company has advised me
to consult with an attorney.

 

Period to Consider the Release.
I understand that I have 21 days from the day that I receive this Release, not counting the day upon which I receive it, to consider
whether I wish to sign this Release. If I sign this Release before the end of the 21-day period, it will be my voluntary decision
to do so because I have decided that I do not need any additional time to decide whether to sign this Release. I also agree that
any changes made to this Release or to the Transition Agreement before I sign it, whether material or immaterial, will not restart
the 21-day period.

 

My Right to Rescind this Release.
I understand that I may rescind this Release at any time within 15 days after I sign it, not counting the day upon which I sign
it. This Release will not become effective or enforceable unless and until the 15-day rescission period has expired without my
rescinding it.

 

Procedure for Accepting or Rescinding
the Release. To accept the terms of this Release, I must deliver the Release, after I have signed and dated it, to Tactile
by hand or by mail within the 21-day period that I have to consider this Release. To rescind my acceptance, I must deliver a written,
signed statement that I rescind my acceptance to Tactile by hand or by mail within the 15-day rescission period. All deliveries
must be labeled confidential and made to Tactile at the following address:

 

Attn: Chief Financial Officer

Tactile Systems Technology, Inc.

3701 Wayzata Blvd, Suite 300

Minneapolis, Minnesota 55416

 

If I choose to deliver my acceptance or
the rescission of my acceptance by mail, it must be (1) postmarked within the period stated above; (2) properly addressed
to Tactile at the address stated above; and (3) sent by certified mail, return receipt requested.

 

Interpretation of the Release.
This Release should be interpreted as broadly as possible to achieve my intention to resolve all of My Claims against the Company.
If this Release is held by a court to be inadequate to release a particular claim encompassed within My Claims, this Release will
remain in full force and effect with respect to all the rest of My Claims.

 

Governing Law, Jurisdiction and Venue.
The validity, interpretation, performance, and enforcement of this Release shall be governed by the laws of the State of Minnesota
without regard to conflicts-of-laws provisions that would require application of any other law. I consent to jurisdiction of the
courts of the State of Minnesota and/or the federal district courts, District of Minnesota, for the purpose of resolving all issues
of law, equity, or fact arising out of or in connection with this Release. Any action involving claims of a breach of this Release
shall be brought solely in such courts. I consent to personal jurisdiction over me in the state and/or federal courts of Minnesota
and hereby waive any defense of lack of personal jurisdiction. Venue, for the purpose of all such suits commenced in state court,
shall be in Hennepin County, State of Minnesota.

 

My Representations. I
am legally able and entitled to receive the consideration being provided to me in settlement of My Claims. I have not been
involved in any personal bankruptcy or other insolvency proceedings at any time since I began my employment with Tactile. No
court orders requiring that money owed to me by Tactile be paid to any other person are now in effect.

 

    B-3

     

    

 

I have read this Release carefully. I understand
all of its terms. In signing this Release, I have not relied on any statements or explanations made by the Company except as specifically
set forth in the Restrictive Covenants Agreement or the Transition Agreement. I am voluntarily releasing My Claims against the
Company. I intend this Release and the Transition Agreement to be legally binding.

 

	Dated:	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Gerald R. Mattys

 

    B-4

     

    

 

Exhibit C

 

SECOND RELEASE BY GERALD R. MATTYS

 

Definitions. I intend all
words used in this Second Release by Gerald R. Mattys (“Release”) to have their plain meanings in ordinary English.
Specific terms that I use in this Release have the following meanings:

 

		A.	I, me, and my include both me (Gerald R. Mattys) and anyone who has or obtains
any legal rights or claims through me.

 

		B.	Tactile means Tactile Systems Technology, Inc., any company related to Tactile Systems Technology,
Inc., in the present or past (including without limitation, its predecessors, parents, subsidiaries, affiliates, joint venture
partners, and divisions), and any successors of Tactile Systems Technology, Inc.

 

		C.	Company means Tactile; the present and past officers,
directors, committees, shareholders, and employees of Tactile; any company providing insurance to Tactile in the present or past;
any employee benefit plan sponsored or maintained by Tactile (other than multiemployer plans) and the present and past fiduciaries
of such plans; the attorneys for Tactile; and anyone who acted on behalf of Tactile or on instructions from Tactile.

 

		D.	Restrictive Covenants Agreement means the Restrictive Covenants Agreement, as defined in
the Transition Agreement.

 

		E.	Transition Agreement means the Transition and Consulting Agreement between Tactile and me
that I executed on January 10, 2020, including all of the documents attached to such Transition and Consulting Agreement.

 

		F.	My Claims mean all of my rights that I now have to any relief of any kind from the Company,
including without limitation:

 

		1.	all claims arising out of or relating to my employment with Tactile or the termination of that
employment;

 

		2.	all claims arising out of or relating to the statements, actions, or omissions of the Company;

 

		3.	all claims for any alleged unlawful discrimination, harassment, retaliation or reprisal, or other
alleged unlawful practices arising under any federal, state, or local statute, ordinance, or regulation, including without limitation,
claims under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Older Workers Benefit Protection
Act, the Americans with Disabilities Act, 42 U.S.C. § 1981, the Employee Retirement Income Security Act, the Fair Credit Reporting
Act, the Equal Pay Act, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, the Sarbanes-Oxley
Act, the Minnesota Human Rights Act, the Minneapolis Civil Rights Ordinance, and workers’ compensation non-interference or
non-retaliation statutes (such as Minn. Stat. § 176.82);

 

    C-1

     

    

 

		4.	all claims for alleged wrongful discharge; breach of contract (including without limitation the
Plan, as defined in the Transition Agreement); breach of implied contract; failure to keep any promise; breach of a covenant of
good faith and fair dealing; breach of fiduciary duty; estoppel; my activities, if any, as a “whistleblower”; defamation;
infliction of emotional distress; fraud; misrepresentation; negligence; harassment; retaliation or reprisal; constructive discharge;
assault; battery; false imprisonment; invasion of privacy; interference with contractual or business relationships; any other wrongful
employment practices; and violation of any other principle of common law;

 

		5.	all claims for compensation of any kind, including without limitation, bonuses, commissions, stock-based
compensation, stock options or any form of equity-based compensation, vacation pay, paid time off, and expense reimbursements;

 

		6.	all claims for back pay, front pay, reinstatement, other equitable relief, compensatory damages,
damages for alleged personal injury, liquidated damages, and punitive damages;

 

		7.	all claims that a past unlawful decision has or has had a continuing effect on my compensation;
and

 

		8.	all claims for attorneys' fees, costs, and interest.

 

However, My Claims do not
include (i) any claims that the law does not allow to be waived; (ii) any claims that may arise after the date on which I sign
this Release; (iii) any claims under the Equity Awards (as defined in the Transition Agreement), including as
provided in Section 5(h) of the Agreement (if applicable); (iv) any claims I have to indemnification as a current or former
executive-level employee of XXX; (v) any claims for breach of the Transition Agreement; (vi) any claims I may have for accrued
benefits under any employee benefit plan sponsored by the Company in which I am a participant; (vii) any claims as a shareholder
of the Company; or (viii) my right to participate in any government agency led investigation or legal proceeding against the Company;
provided, however, My Claims do include, to the fullest extent legally permissible, any right or entitlement to any form
of personal relief for me arising from any such claim.

 

Agreement to Release My Claims.
I will receive consideration from Tactile as set forth in the Transition Agreement if I sign and do not rescind this Release as
provided below. I understand and acknowledge that such consideration includes valuable consideration in addition to anything of
value that I would be entitled to receive from Tactile if I did not sign this Release or if I rescinded this Release. In exchange
for that consideration I give up and release all of My Claims. I will not make any demands or claims against the Company for compensation
or damages relating to My Claims. The consideration that I am receiving is a fair compromise for the release of My Claims. I understand
and agree that, with the exception of money provided to me by a governmental agency as an award for providing information, I am
not entitled to receive any money or other relief in connection with My Claims, regardless of who initiated or filed the charge
or other proceeding.

 

Additional Agreements and Understandings.
Even though Tactile will provide consideration for me to settle and release My Claims, the Company does not admit that it is responsible
or legally obligated to me. In fact, the Company denies that it is responsible or legally obligated to me for My Claims, denies
that it engaged in any unlawful or improper conduct toward me, and denies that it treated me unfairly.

 

    C-2

     

    

 

Advice to Consult with an Attorney.
I understand and acknowledge that I am hereby being advised by the Company to consult with an attorney prior to signing this Release
and I have done so. My decision whether to sign this Release is my own voluntary decision made with full knowledge that the Company
has advised me to consult with an attorney.

 

Period to Consider this Release.
I understand that I have 21 days after my Separation Date (as defined in the Transition Agreement) to consider whether I wish to
sign this Release. If I sign this Release before the end of the 21-day period, it will be my voluntary decision to do so because
I have decided that I do not need any additional time to decide whether to sign this Release. I also agree that any changes made
to this Release or to the Transition Agreement before I sign it, whether material or immaterial, will not restart the 21-day period.
I understand and agree that I may not sign this Release prior to my Separation Date.

 

My Right to Rescind this Release.
I understand that I may rescind this Release at any time within 15 days after I sign it, not counting the day upon which I sign
it. This Release will not become effective or enforceable unless and until the 15-day rescission period has expired without my
rescinding it.

 

Procedure for Accepting or Rescinding
the Release. To accept the terms of this Release, I must deliver the Release, after I have signed and dated it, to Tactile
by hand or by mail within the 21-day period that I have to consider this Release. To rescind my acceptance, I must deliver a written,
signed statement that I rescind my acceptance to Tactile by hand or by mail within the 15-day rescission period. All deliveries
must be labeled confidential and made to Tactile at the following address:

 

Attn: Chief Financial Officer

Tactile Systems Technology, Inc.

3701 Wayzata Blvd, Suite 300

Minneapolis, Minnesota 55416

 

If I choose to deliver my acceptance or
the rescission of my acceptance by mail, it must be (1) postmarked within the period stated above; (2) properly addressed
to Tactile at the address stated above; and (3) sent by certified mail, return receipt requested.

 

Interpretation of the Release.
This Release should be interpreted as broadly as possible to achieve my intention to resolve all of My Claims against the Company.
If this Release is held by a court to be inadequate to release a particular claim encompassed within My Claims, this Release will
remain in full force and effect with respect to all the rest of My Claims.

 

Governing Law, Jurisdiction and Venue.
The validity, interpretation, performance, and enforcement of this Release shall be governed by the laws of the State of Minnesota
without regard to conflicts-of-laws provisions that would require application of any other law. I consent to jurisdiction of the
courts of the State of Minnesota and/or the federal district courts, District of Minnesota, for the purpose of resolving all issues
of law, equity, or fact arising out of or in connection with this Release. Any action involving claims of a breach of this Release
shall be brought solely in such courts. I consent to personal jurisdiction over me in the state and/or federal courts of Minnesota
and hereby waive any defense of lack of personal jurisdiction. Venue, for the purpose of all such suits commenced in state court,
shall be in Hennepin County, State of Minnesota.

 

My Representations. I
am legally able and entitled to receive the consideration being provided to me in settlement of My Claims. I have not been
involved in any personal bankruptcy or other insolvency proceedings at any time since I began my employment with Tactile. No
court orders requiring that money owed to me by Tactile be paid to any other person are now in effect.

 

    C-3

     

    

 

I have read this Release carefully. I understand
all of its terms. In signing this Release, I have not relied on any statements or explanations made by the Company except as specifically
set forth in the Restrictive Covenants Agreement or the Transition Agreement. I am voluntarily releasing My Claims against the
Company. I intend this Release to be legally binding.

 

	Dated:	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Gerald R. Mattys

 

    C-4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}]]