Document:

Exhibit 10.6

 Exhibit 10.6 

MINDBODY, INC. 
 4051 Broad
Street, Suite 220 
 San Luis Obispo, CA 93401 

Richard Stollmeyer 
 c/o MINDBODY, Inc. 

 

					
	 Re:
		FOUNDERS EMPLOYMENT AGREEMENT		

 Dear Rick: 

Your employment with MINDBODY, Inc., a Delaware corporation (the “Company”), shall be governed by the following terms
and conditions (this “Agreement”): 
 1. Duties and Scope of Employment. 

(a) Term. This Agreement will be effective as of May 22, 2015 (the “Effective Date”) and will
continue through the three (3) year anniversary of the Effective Date (the “Initial Term Expiration Date” and such period, the “Initial Term”); provided that upon the Initial Term Expiration Date,
and each subsequent three (3) year anniversary of such date, if applicable, the term of your employment under this Agreement will automatically by extended by three (3) years (each such extension, an “Additional
Term”), unless either party hereto provides the other party with written notice as least ninety (90) days before the Initial Term Expiration Date, or such subsequent three (3) year anniversary of such date, if applicable, of
such party’s decision not to extend the term of employment under this Agreement any further. Notwithstanding the foregoing provisions of this paragraph, (a) if a Change in Control occurs when there are fewer than twelve (12) months
remaining during the Initial Term or an Additional Term, the term of this Agreement will extend automatically through the date that is twelve (12) months following the effective date of the Change in Control, or (b) if an initial
occurrence of an act or omission by the Company constituting the grounds for Good Reason (as defined below) has occurred (the “Initial Grounds”), and the expiration date of the Company cure period (as such term is used in the
Good Reason definition) with respect to such Initial Grounds could occur following the expiration of the Initial Term or an Additional Term, then unless otherwise agreed to by you and the Company in writing, the term of this Agreement will extend
automatically through the date that is thirty (30) days following the expiration of such cure period, but such extension of the term shall only apply with respect to the Initial Grounds. If you become entitled to benefits under
Section 6(b) during the term of this Agreement, the Agreement will not terminate until all of the obligations of the parties hereto with respect to this Agreement have been satisfied. Notwithstanding the forgoing, your employment under
this Agreement may be terminated at any time before or after the Initial Term Expiration Date or during any Additional Term, in accordance with Section 5 below. For avoidance of doubt, the decision by either party not to extend the term of
employment under this Agreement will not by itself constitute a termination of employment by the Company without Cause (as defined below) or grounds for your resignation for Good Reason (as defined below), and unless determined otherwise by you or
the Company, after such non-renewal, your employment will continue on an at-will basis outside of this Agreement and you will not be eligible for any severance under this Agreement. 

 (b) Position and Responsibilities. For the term of your employment under this
Agreement (the “Employment Period”), the Company agrees to employ you in the position of Chief Executive Officer. You will report to the Company’s Board of Directors (the “Board”). You will
perform the duties and have the responsibilities and authority customarily performed and held by an employee in your position or as otherwise may be assigned or delegated to you by the Board. 

(c) Obligations to the Company. During the Employment Period, you shall perform your duties faithfully and to the best of your
ability and will devote your full business efforts and time to the Company. During the Employment Period, without the prior written approval of the Board, you shall not render services in any capacity to any other person or entity and shall not act
as a sole proprietor or partner of any other person or entity or own more than five percent (5%) of the stock of any other corporation, except that stock that you hold as a passive investment in a non-competitive company will be exempt from
this limitation. Notwithstanding the foregoing, you may serve on corporate boards of a non-competitive company, civic or charitable boards or committees, deliver lectures, fulfill speaking engagements, teach at educational institutions, or manage
personal or family investments without such advance written consent; provided that, with respect to corporate boards, you notify the Board in advance and such positions are not in conflict with the interests of the Company, and with respect to such
other activities, they do not individually or in the aggregate materially interfere with the performance of your duties under this Agreement. You shall comply with the Company’s policies and rules, as they may be in effect from time to time and
provided to you during the Employment Period. 
 (d) No Conflicting Obligations. You represent and warrant to the Company that
you are under no obligations or commitments, whether contractual or otherwise, that are inconsistent with your obligations under this Agreement. In connection with your employment, you shall not knowingly use or disclose any trade secrets or other
proprietary information or intellectual property in which you or any other person has any right, title or interest and to the best of your knowledge, your employment during the Employment Period will not infringe or violate the rights of any other
person. You represent and warrant to the Company that you have returned all property and confidential information belonging to any prior employer. 

2. Cash and Incentive Compensation. 

(a) Base Salary. Effective July 1, 2015, the Company shall pay you as compensation for your services a base salary at a
gross annual rate of $410,000, less all required tax withholdings and other applicable deductions, in accordance with the Company’s standard payroll procedures. The annual compensation specified in this subsection (a), together with any
modifications in such base compensation that the Company may make from time to time, is referred to in this Agreement as your “Base Salary.” Your Base Salary will be subject to review and adjustments that will be made based
upon the Company’s normal 

  
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performance review practices. Effective as of the date of any change to your Base Salary, the Base Salary as so changed shall be considered the new Base Salary for all purposes of this Agreement.

 (b) Cash Incentive Bonus. You will be eligible to receive incentive payments under the Company’s Executive Bonus Plan
or other applicable bonus plan in use by the Company (the “Cash Bonus”), paid after the close of the applicable performance period based upon performance of the Company relative to financial and other performance goals as
reasonably established by, and in the sole discretion of, the Board or any Compensation Committee of the Board (the “Committee”), as applicable. Effective July 1, 2015, the annual target amount for your Cash Bonus will
be 90% of your Base Salary (your “Target Bonus”), less all required tax withholdings and other applicable deductions. For each fiscal year of the Employment Period, your Target Bonus will be no less than 90% of your Base
Salary. For 2015, you are eligible to earn up to 200% of the Target Bonus, subject to achieving maximum level of performance under the plan. The good faith determinations of the Board or the Committee, as applicable, with respect to such Cash Bonus
or Target Bonus shall be final and binding. Except as otherwise set forth in the applicable bonus plan, you shall not earn a Cash Bonus, unless you are employed by the Company on the date when such Cash Bonus is actually paid by the Company. In
addition, the Board and/or the Committee reserves the right to pay discretionary bonuses in its sole discretion. 
 (c) Equity
Awards. You will continue to be eligible to receive awards of stock options, restricted stock, restricted stock units, stock appreciation rights, performance units and performance shares or other equity awards
(“Awards”) pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or the Committee will determine in its discretion whether you will be granted any such Awards and the terms of any
such Award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time. 
 3. Paid Time
Off and Employee Benefits. During the Employment Period, you shall be eligible to accrue paid time off (“PTO”) in accordance with the Company’s PTO policy, as it may be amended from time to time. During the
Employment Period, you shall be eligible to participate in the employee benefit plans maintained by the Company on the same basis as those benefits are generally made available to other executive officers of the Company, subject in each case to the
generally applicable terms and conditions of the plan in question and to the determinations of any person or committee administering such employee benefit plan. The Company reserves the right to cancel or change the employee benefit plans and
programs it offers to its employees at any time. 
 4. Business Expenses. The Company will reimburse you for your necessary
and reasonable business expenses incurred in connection with your duties hereunder upon presentation of an itemized account and appropriate supporting documentation, all in accordance with the Company’s generally applicable policies. 

  
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 5. Termination. 

(a) Employment at Will. Your employment shall be “at will,” meaning that either you or the Company shall be entitled
to terminate your employment at any time and for any reason, with or without Cause or notice. Any contrary representations that may have been made to you shall be superseded by this Agreement. This Agreement shall constitute the full and complete
agreement between you and the Company on the “at-will” nature of your employment, which may only be changed in an express written agreement signed by you and a duly authorized officer of the Company. 

(b) Rights Upon Termination. Except as expressly provided in Section 6, upon the termination of your employment, you shall
only be entitled to the accrued but unpaid base salary compensation, any earned but unpaid Cash Bonus for the fiscal year preceding the fiscal year in which such termination of employment occurs, PTO and other benefits earned and the reimbursements
described in this Agreement or under any Company-provided plans, policies, and arrangements for the period preceding the effective date of the termination of employment. 

6. Termination Benefits. 

(a) Termination Without Cause, Resignation for Good Reason or Termination on Account of Death or Disability Unrelated to a Change in
Control. If outside of the Change in Control Period, the Company (or any parent or subsidiary or successor of the Company) terminates your employment with the Company without Cause, you resign from your employment for Good Reason, or your
employment terminates on account of your death or disability (each, a “Qualifying Termination”), then, in each case, subject to Section 7, you will be entitled to: 

(i) receive continuing payments of severance pay at a rate equal to your Base Salary, as then in effect, for eighteen (18) months from
the date of such termination of employment (the Continuation Period”). Severance payments under this subsection (i) will be reduced by all required tax withholdings and other applicable deductions and will be paid in
accordance with the Company’s regular payroll procedures commencing on the Release Deadline (as defined in Section 7(a)); provided that the first payment shall include any amounts that would have been paid to you if payment had commenced
on the date of your separation from service; 
 (ii) a lump-sum amount payable on the Release Deadline equal to the amount of your Target
Bonus, pro-rated for the number of days served during the year of your termination of employment; 
 (iii) if you timely elect continuation
coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for you and your eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse you
for the COBRA premiums for such coverage (at the coverage levels in effect 

  
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immediately prior to your termination of employment) for you and your covered dependents until the earliest of (A) eighteen (18) months from the date of such termination of employment,
(B) the expiration of your continuation coverage under COBRA or (C) the date when you receive substantially equivalent health insurance coverage in connection with new employment or self-employment; provided that such benefits shall be
taxable to you to the extent advisable under Section 105(h) of the Code; 
 (iv) Notwithstanding Section 6(a)(iii), if the
Company determines in its sole discretion that it cannot provide the COBRA benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without limitation, Section 2716 of the Public Health Service
Act), the Company will in lieu thereof provide you a taxable payment, payable on the same schedule as payments under Section 6(a)(i), in an aggregate amount equal to the eighteen (18) months of the COBRA premium that you would be required
to pay to continue your group health coverage in effect on the termination of employment date (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether you elect COBRA
continuation coverage. For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject to all applicable tax
withholdings; and 
 (v) 100% of the then-unvested shares subject to your outstanding Existing Awards shall immediately vest. 

(b) Termination Without Cause, Resignation for Good Reason or Termination on Account of Death or Disability in Connection with a Change
in Control. If during the Change in Control Period, you experience a Qualifying Termination, then subject to Section 7, you will be entitled to the benefits as provided in Section 6(a) and additionally 100% of the then-unvested
shares subject to Awards that are not Existing Awards (“New Awards”) shall immediately vest. If, however, an outstanding New Award is to vest, and/or the number of shares or amount of the New Award to vest is to be determined
based on the achievement of performance criteria, then the New Award will vest as to then-outstanding shares the number of shares or the amount of the New Award assuming the performance criteria had been achieved at 100% of target levels for the
relevant performance period(s). 
 (c) Termination for Cause or Resignation without Good Reason. If your employment with the
Company (or any parent or subsidiary or successor of the Company) terminates voluntarily by you without Good Reason, or for Cause by the, then (i) all vesting will terminate immediately with respect to your outstanding Awards; (ii) all
payments of compensation by the Company to you hereunder will terminate immediately (except as to amounts already earned); and (iii) you will only be eligible for severance benefits in accordance with the Company’s established policies, if
any, as then in effect. 
 (d) Exclusive Remedy. In the event of a termination of your employment with the Company (or any
parent or subsidiary or successor of the Company), the provisions of this Section 6 are intended to be and are exclusive and in lieu of any other rights or remedies to 

  
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which you or the Company may otherwise be entitled, whether at law, tort or contract, in equity, or under this Agreement, except to the extent explicitly preserved hereunder. You will be entitled
to no severance or other benefits upon termination of Employment with respect to acceleration of award vesting or severance pay other than those benefits expressly set forth in this Section 6. 

7. Conditions to Receipt of Severance; No Duty to Mitigate. 

(a) Separation Agreement and Release of Claims. The receipt of any termination benefits pursuant to Section 6 will be
subject to you signing and not revoking a standard separation agreement and release of claims with the Company (the “Release”) and provided that such Release becomes effective and irrevocable no later than sixty
(60) days following your “separation from service” (within the meaning of Section 409A) (such 60th day, the “Release Deadline”). The Release will not include (i) a non-compete covenant or
(ii) other restrictive covenants that are not legal under applicable law. If the Release does not become effective and irrevocable by the Release Deadline, you will forfeit any rights to termination benefits under this Agreement. In no event
will termination benefits be paid or provided until and unless the Release becomes effective and irrevocable by the Release Deadline. 
 (b)
Nonsolicitation. The receipt of any termination benefits pursuant to Section 6 will be subject to you not violating the provisions of Section 9. In the event you breach the provisions of Section 9, all continuing
payments and benefits to which you may otherwise be entitled pursuant to Section 6 will immediately cease. 
 (c) Section
409A. 
 (i) Notwithstanding anything to the contrary in this Agreement, no Deferred Payments (as defined below) will be paid or
otherwise provided until you have a “separation from service” within the meaning of Section 409A. Similarly, no severance payable to you, if any, pursuant to this Agreement that otherwise would be exempt from Section 409A
pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until you have a “separation from service” within the meaning of Section 409A. Notwithstanding anything to the contrary in this Agreement, if you are a
“specified employee” within the meaning of Section 409A at the time of your separation from service (other than due to death), then the termination benefits to be paid or provided to you, if any, pursuant to this Agreement that, when
considered together with any other termination benefits, are considered deferred compensation not exempt under Section 409A (together, the “Deferred Payments”) that are payable within the first six (6) months
following your separation from service, will become payable on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of your separation from service. All subsequent Deferred Payments, if
any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if you die following your separation from service, but prior to the six (6) month anniversary
of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum at the time of your death and all other Deferred Payments will be payable in accordance with the payment

  
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schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of
the Treasury Regulations. 
 (ii) The foregoing provisions are intended to comply with, and the COBRA reimbursements are intended to be
exempt from, the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will
be interpreted to so comply and, with respect to the COBRA reimbursements, to so be exempt. You and the Company agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary,
appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to you under Section 409A. 

(d) Confidential Information Agreement. Your receipt of any payments or benefits under Section 6 will be subject to you
continuing to comply with the terms of Confidentiality Agreement (as defined in Section 11(a)). 
 (e) No Duty to
Mitigate. You will not be required to mitigate the amount of any payment contemplated by this Agreement, nor will any earnings that you may receive from any other source reduce any such payment. 

8. Definitions. 

(a) “Cause” means (i) your conviction of, or plea of nolo contendere to, a felony (but excluding negligent
driving offenses or driving offenses solely related to the speed limit) and which has an adverse effect on the business or affairs of the Company, (ii) your gross and willful misconduct, (iii) your unauthorized and intentional use or
disclosure of any proprietary information or trade secrets of the Company or any other party to whom you owe an obligation of nondisclosure as a result of your relationship with the Company; (iv) your willful breach of any material obligations
under any material written agreement or covenant with the Company; (v) your refusal to perform your employment duties after you have received a written demand of performance from the Company that specifically sets forth the factual basis for
the Company’s belief that you have refused to perform your duties and have failed to cure such non-performance to the Company’s reasonable satisfaction within thirty (30) business days after receiving such notice or (vi) your
failure to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested your cooperation. No termination for Cause shall be effective unless you are given
written notice from the Board of the condition that could constitute Cause and, if capable of being cured, at least thirty (30) days to cure the condition. 

(b) “Change in Control” has the same defined meaning as shall be set forth in the Company’s 2015 Equity Incentive
Plan. 

  
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 (c) “Change in Control Period” means the period that commences upon a
Change in Control and ends on the one (1) year anniversary following a Change in Control. 
 (d) “Code” means
the Internal Revenue Code of 1986, as amended. 
 (e) “Existing Awards” means your Awards that are outstanding as of
the Effective Date. For the avoidance of doubt, Awards granted on May 22, 2015 are not considered Existing Awards and shall instead be treated as New Awards. 

(f) “Good Reason” means your resignation within thirty (30) days following the expiration of any Company cure
period (discussed below) following the occurrence of one or more of the following, without your express written consent: (i) a material reduction of your titles, duties, authority or responsibilities without your prior consent; (ii) a
material reduction in your Base Salary (except where there is a reduction applicable to the management team generally , not to exceed 15% of the aggregate base salary); or (iii) a material change in the geographic location of your primary work
facility or location; provided, that a relocation of less than thirty (30) miles from your then-present work location will not be considered a material change in geographic location. You will not resign for Good Reason without first providing
the Company with written notice of the acts or omissions constituting the grounds for Good Reason within ninety (90) days of the initial existence of the grounds for Good Reason and a reasonable cure period of thirty (30) days following
the date the Company receives such notice during which such condition must not have been cured. 
 9. Non-Solicitation. To the
fullest extent permitted under applicable law, during the period commencing on the date of this Agreement and continuing until the first anniversary of the date when your employment terminated for any reason, you shall not directly or indirectly,
personally or through others, solicit, recruit or attempt to solicit or recruit (on your own behalf or on behalf of any other person or entity) either (i) any employee or any consultant of the Company or any of the Company’s affiliates or
(ii) the business of any customer of the Company or any of the Company’s affiliates on whom you called or with whom you became acquainted during your employment, if you are using confidential or proprietary information of the Company to
effectuate the solicitation of any such customer. You represent that you (i) are familiar with the foregoing covenant not to solicit, and (ii) are fully aware of your obligations hereunder, including, without limitation, the reasonableness
of the length of time, scope and geographic coverage of these covenants. 
 10. Golden Parachute.  

(a) Anything in this Agreement to the contrary notwithstanding, if any payment or benefit you would receive from the Company or otherwise
(“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code; and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the
Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion
of the Payment being subject to the Excise Tax; or (y) the largest portion, up to and including 

  
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the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest
applicable marginal rate), results in your receipt, on an after-tax basis, of the greater amount of the Payment. Any reduction made pursuant to this Section 10(a) shall be made in accordance with the following order of priority: (i) stock
options whose exercise price exceeds the fair market value of the optioned stock (“Underwater Options”) (ii) Full Credit Payments (as defined below) that are payable in cash, (iii) non-cash Full Credit Payments that
are taxable, (iv) non-cash Full Credit Payments that are not taxable (v) Partial Credit Payments (as defined below) and (vi) non-cash employee welfare benefits. In each case, reductions shall be made in reverse chronological order
such that the payment or benefit owed on the latest date following the occurrence of the event triggering the excise tax will be the first payment or benefit to be reduced (with reductions made pro-rata in the event payments or benefits are owed at
the same time). “Full Credit Payment” means a payment, distribution or benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, that if reduced in value by one
dollar reduces the amount of the parachute payment (as defined in Section 280G of the Code) by one dollar, determined as if such payment, distribution or benefit had been paid or distributed on the date of the event triggering the excise tax.
“Partial Credit Payment” means any payment, distribution or benefit that is not a Full Credit Payment. Notwithstanding the foregoing, to the extent the Company submits any payment or benefit payable to you to the
Company’s stockholders for approval in accordance with Treasury Regulation Section 1.280G-1 Q&A 7, the foregoing provisions shall not apply following such submission and such payments and benefits will be treated in accordance with the
results of such vote, except that any reduction in, or waiver of, such payments or benefits required by such vote will be applied without any application of discretion by you and in the order prescribed by this Section. In no event shall you have
any discretion with respect to the ordering of payment reductions. 
 (b) A nationally recognized certified public accounting firm selected
by the Company (the “Accounting Firm”) shall perform the foregoing calculations related to the Excise Tax. If a reduction is required pursuant to Section 10(a), the Accounting Firm shall administer the ordering of the
reduction as set forth in Section 10(a). The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. 

(c) The Accounting Firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting
documentation, to you and the Company a within fifteen (15) calendar days after the date on which your right to a Payment is triggered. Any good faith determinations of the Accounting Firm made hereunder shall be final, binding, and conclusive
upon you and the Company. 
 11. Pre-Employment Conditions. 

(a) Confidentiality Agreement. You have entered into the Company’s Employee Confidentiality, Non-Disclosure and Assignment
of Inventions Agreement (the “Confidentiality Agreement”). You will continue to be bound by the Confidentiality Agreement during the Employment Term and thereafter in accordance with its terms. 

  
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 (b) Right to Work. For purposes of federal immigration law, you will be required,
if you haven’t already, to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. 

12. Successors. 

(a) Company’s Successors. This Agreement shall be binding upon any successor (whether direct or indirect and whether by
purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets. For all purposes under this Agreement, the term “Company” shall include any successor
to the Company’s business or assets that become bound by this Agreement. 
 (b) Your Successors. This Agreement and all
of your rights hereunder shall inure to the benefit of, and be enforceable by, your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

13. Arbitration.  

(a) Arbitration. In consideration of your employment with the Company, its promise to arbitrate all employment-related
disputes, and your receipt of the compensation, pay raises and other benefits paid to you by the Company, at present and in the future, you agree that any and all controversies, claims, or disputes with anyone (including the Company and any
employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from your employment with the Company or termination thereof, including any breach of this
Agreement, will be subject to binding arbitration under the Federal Arbitration Act and pursuant to the Arbitration Rules set forth in California Code of Civil Procedure Section 1280 through 1294.2, including Section 1281.8 (the
“Act”), and California law, and shall be brought in your individual capacity, and not as a plaintiff, representative, or class member in any purported class, collective, or representative proceeding. Notwithstanding the
foregoing, you understand that you may bring a proceeding as a Private Attorney General as permitted by law. For the avoidance of doubt, the Federal Arbitration Act governs this Agreement and shall apply with full force and effect, notwithstanding
the application of procedural rules set forth under the Act and California law. 
 (b) Dispute Resolution. Disputes that you
agree to arbitrate, and thereby agree to waive any right to a trial by jury, include any statutory claims under local, state, or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with
Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Sarbanes Oxley Act, the Worker Adjustment and Retraining Notification Act, the Fair Labor Standards Act, the California Fair
Employment and Housing Act, the Family and Medical Leave Act, the California Family Rights Act, the California Labor Code, claims relating to employment status, classification, and relationship with the

  
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Company, claims of harassment, discrimination, and wrongful termination, breach of contract and any statutory or common law claims, except as prohibited by law. You also agree to arbitrate any
and all disputes arising out of or relating to the interpretation or application of this agreement to arbitrate, but not disputes about the enforceability, revocability, or validity of this agreement to arbitrate or any portion hereof of the class,
collective and representative proceeding waiver herein. You agree that nothing in this agreement constitutes a waiver of your rights under Section 7 of the National Labor Relations Act. You further understand that this Agreement to arbitrate
also applies to any disputes that the Company may have with you. 
 (c) Procedure. You agree that any arbitration will be
administered by the Judicial Arbitration & Mediation Services, Inc. (“JAMS”), pursuant to its Employment Arbitration Rules & Procedures (the “JAMS Rules”), which are available at
http://www.jamsadr.com/rules-employment-arbitration/. The arbitrator shall have the power to decide any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication, motions to dismiss and demurrers,
prior to any arbitration hearing applying the standards set forth under the California Code of Civil Procedure. You agree that the arbitrator shall issue a written decision on the merits. The arbitrator shall have the power to award any remedies
available under applicable law, and the arbitrator shall award attorneys’ fees and costs to the prevailing party, where provided by applicable law. You agree that the decree or award rendered by the arbitrator may be entered as a final and
binding judgment in any court having jurisdiction thereof. The Company will pay for any administrative or hearing fees charged by the administrator or JAMS, and all arbitrator’s fees, except that you shall pay any filing fees associated with
any arbitration that you initiate, but only so much of the filing fee as you would have instead paid had you filed a complaint in a court of law. You agree that the arbitrator shall administer and conduct any arbitration in accordance with
California law, including the California Code of Civil Procedure and the California Evidence Code, and that the arbitrator shall apply substantive and procedural California law to any dispute or claim, without reference to the rules of conflict of
law. To the extent that the JAMS Rules conflict with California law, California law shall take precedence. The decision of the arbitrator shall be in writing. Any arbitration under this Agreement shall be conducted in San Luis Obispo County,
California. 
 (d) Remedy. Except as provided by the Act and this Agreement, arbitration shall be the sole, exclusive, and
final remedy for any dispute between you and the Company. Accordingly, except as provided by the Act and this Agreement, neither you nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration.
Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator will not order or require the Company to adopt a policy not otherwise required by law which the Company has
not adopted. 
 (e) Administrative Relief. You are not prohibited from pursuing an administrative claim with a local, state,
or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to, the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission,
the National Labor Relations Board, or the Workers’ Compensation Board. However, you may not pursue court action regarding any such claim, except as permitted by law. 

  
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 (f) Voluntary Nature of Agreement. You acknowledge and agree that you are executing
this Agreement voluntarily and without any duress or undue influence by the Company or anyone else. You further acknowledge and agree that you have carefully read this Agreement and that you have asked any questions needed for you to understand the
terms, consequences and binding effect of this Agreement and fully understands it, including that YOU ARE WAIVING YOUR RIGHT TO A JURY TRIAL. Finally, you agree that you have been provided an opportunity to seek the advice of an
attorney of your choice before signing this Agreement. 
 14. Miscellaneous Provisions. 

(a) Indemnification. The Company shall indemnify you to the maximum extent permitted by applicable law and the Company’s
Bylaws with respect to your service and you shall also be covered under a directors and officers liability insurance policy paid for by the Company to the extent that the Company maintains such a liability insurance policy now or in the future. 

(b) Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part
of this Agreement. 
 (c) Notice. Notices and all other communications contemplated by this Agreement shall be in writing and
shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In your case, mailed notices shall be addressed to you at the home address that you
most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 

(d) Modifications and Waivers. No provision of this Agreement shall be modified, waived or discharged unless the modification,
waiver or discharge is agreed to in writing and signed by you and by an authorized officer of the Company (other than you). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other
party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 
 (e)
Entire Agreement. This Agreement is an amendment and restatement of your Second Amendment to Employment Agreement with the Company entered into on August 12, 2010 (the “Existing Agreement”) and supersedes
the Existing Agreement in its entirety. No other agreements, representations or understandings (whether oral or written and whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either
party with respect to the subject matter hereof. This Agreement and the Confidentiality Agreement contain the entire understanding of the parties with respect to the subject matter hereof. 

  
 -12- 

 (f) Withholding Taxes. All payments made under this Agreement shall be subject to
reduction to reflect taxes or other charges required to be withheld by law. 
 (g) Choice of Law and Severability. This
Agreement shall be interpreted in accordance with the laws of the State of California without giving effect to provisions governing the choice of law. If any provision of this Agreement becomes or is deemed invalid, illegal or unenforceable in any
applicable jurisdiction by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the minimum extent necessary to conform to applicable law so as to be valid and enforceable or, if such provision
cannot be so amended without materially altering the intention of the parties, then such provision shall be stricken and the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is rendered illegal
by any present or future statute, law, ordinance or regulation (collectively, the “Law”) then that provision shall be curtailed or limited only to the minimum extent necessary to bring the provision into compliance with the
Law. All the other terms and provisions of this Agreement shall continue in full force and effect without impairment or limitation. 
 (h)
No Assignment. This Agreement and all of your rights and obligations hereunder are personal to you and may not be transferred or assigned by you at any time. The Company may assign its rights under this Agreement to any entity that
assumes the Company’s obligations hereunder in connection with any sale or transfer of all or a substantial portion of the Company’s assets to such entity. 

(i) Acknowledgment. You acknowledge that you have the opportunity to discuss this matter with and obtain advice from his private
attorney, have had sufficient time to, and have carefully read and fully understand all the provisions of this Agreement, and are knowingly and voluntarily entering into this Agreement. 

(j) Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. 
 [Signature Page Follows] 

  
 -13- 

 After you’ve had an opportunity to review this Agreement, please feel free to contact me if
you have any questions or comments. To indicate your acceptance of this Agreement, please sign and date this letter in the space provided below and return it to me. 

 

			
	Very truly yours,
	
	MINDBODY, INC.
		
	By:		 /s/ Robert Murphy

			(Signature)

  

	
	ACCEPTED AND AGREED:
	
	Richard Stollmeyer
	
	 /s/ Richard Stollmeyer

	(Signature)
	
	 5/22/15

	Date

  
 -14-Exhibit 10.7

 Exhibit 10.7 

MINDBODY, INC. 
 4051 Broad
Street, Suite 220 
 San Luis Obispo, CA 93401 

Robert Murphy 
 c/o MINDBODY, Inc. 

 

					
	 Re:
		FOUNDERS EMPLOYMENT AGREEMENT		

 Dear Bob: 
 Your
employment with MINDBODY, Inc., a Delaware corporation (the “Company”), shall be governed by the following terms and conditions (this “Agreement”): 

1. Duties and Scope of Employment. 

(a) Term. This Agreement will be effective as of May 22, 2015 (the “Effective Date”) and will
continue through the three (3) year anniversary of the Effective Date (the “Initial Term Expiration Date” and such period, the “Initial Term”); provided that upon the Initial Term Expiration Date,
and each subsequent three (3) year anniversary of such date, if applicable, the term of your employment under this Agreement will automatically by extended by three (3) years (each such extension, an “Additional
Term”), unless either party hereto provides the other party with written notice as least ninety (90) days before the Initial Term Expiration Date, or such subsequent three (3) year anniversary of such date, if applicable, of
such party’s decision not to extend the term of employment under this Agreement any further. Notwithstanding the foregoing provisions of this paragraph, (a) if a Change in Control occurs when there are fewer than twelve (12) months
remaining during the Initial Term or an Additional Term, the term of this Agreement will extend automatically through the date that is twelve (12) months following the effective date of the Change in Control, or (b) if an initial
occurrence of an act or omission by the Company constituting the grounds for Good Reason (as defined below) has occurred (the “Initial Grounds”), and the expiration date of the Company cure period (as such term is used in the
Good Reason definition) with respect to such Initial Grounds could occur following the expiration of the Initial Term or an Additional Term, then unless otherwise agreed to by you and the Company in writing, the term of this Agreement will extend
automatically through the date that is thirty (30) days following the expiration of such cure period, but such extension of the term shall only apply with respect to the Initial Grounds. If you become entitled to benefits under
Section 6(b) during the term of this Agreement, the Agreement will not terminate until all of the obligations of the parties hereto with respect to this Agreement have been satisfied. Notwithstanding the forgoing, your employment under
this Agreement may be terminated at any time before or after the Initial Term Expiration Date or during any Additional Term, in accordance with Section 5 below. For avoidance of doubt, the decision by either party not to extend the term of
employment under this Agreement will not by itself constitute a termination of employment by the Company without Cause (as defined below) or grounds for your resignation for Good Reason (as defined below), and unless determined otherwise by you or
the Company, after such non-renewal, your employment will continue on an at-will basis outside of this Agreement and you will not be eligible for any severance under this Agreement. 

 (b) Position and Responsibilities. For the term of your employment under this
Agreement (the “Employment Period”), the Company agrees to employ you in the position of Chief Operating Officer and Chief Marketing Officer. You will report to the Company’s Chief Executive Officer and the
Company’s Board of Directors (the “Board”). You will perform the duties and have the responsibilities and authority customarily performed and held by an employee in your position or as otherwise may be assigned or
delegated to you by the Chief Executive Officer and/or the Board. 
 (c) Obligations to the Company. During the Employment
Period, you shall perform your duties faithfully and to the best of your ability and will devote your full business efforts and time to the Company. During the Employment Period, without the prior written approval of the Board, you shall not render
services in any capacity to any other person or entity and shall not act as a sole proprietor or partner of any other person or entity or own more than five percent (5%) of the stock of any other corporation, except that stock that you hold as
a passive investment in a non-competitive company will be exempt from this limitation. Notwithstanding the foregoing, you may serve on corporate boards of a non-competitive company, civic or charitable boards or committees, deliver lectures, fulfill
speaking engagements, teach at educational institutions, or manage personal or family investments without such advance written consent; provided that, with respect to corporate boards, you notify the Board in advance and such positions are not in
conflict with the interests of the Company, and with respect to such other activities, they do not individually or in the aggregate materially interfere with the performance of your duties under this Agreement. You shall comply with the
Company’s policies and rules, as they may be in effect from time to time and provided to you during the Employment Period. 
 (d)
No Conflicting Obligations. You represent and warrant to the Company that you are under no obligations or commitments, whether contractual or otherwise, that are inconsistent with your obligations under this Agreement. In connection
with your employment, you shall not knowingly use or disclose any trade secrets or other proprietary information or intellectual property in which you or any other person has any right, title or interest and to the best of your knowledge, your
employment during the Employment Period will not infringe or violate the rights of any other person. You represent and warrant to the Company that you have returned all property and confidential information belonging to any prior employer. 

2. Cash and Incentive Compensation. 

(a) Base Salary. Effective July 1, 2015, the Company shall pay you as compensation for your services a base salary at a
gross annual rate of $350,000, less all required tax withholdings and other applicable deductions, in accordance with the Company’s standard payroll procedures. The annual compensation specified in this subsection (a), together with any
modifications in such base compensation that the Company may make from time to time, is referred to in this Agreement as your “Base Salary.” Your Base Salary will be 

  
 -2- 

 
subject to review and adjustments that will be made based upon the Company’s normal performance review practices. Effective as of the date of any change to your Base Salary, the Base Salary
as so changed shall be considered the new Base Salary for all purposes of this Agreement. 
 (b) Cash Incentive Bonus. You
will be eligible to receive incentive payments under the Company’s Executive Bonus Plan or other applicable bonus plan in use by the Company (the “Cash Bonus”), paid after the close of the applicable performance period
based upon performance of the Company relative to financial and other performance goals as reasonably established by, and in the sole discretion of, the Board or any Compensation Committee of the Board (the “Committee”), as
applicable. Effective July 1, 2015, the annual target amount for your Cash Bonus will be 65% of your Base Salary (your “Target Bonus”), less all required tax withholdings and other applicable deductions. For each fiscal
year of the Employment Period, your Target Bonus will be no less than 65% of your Base Salary. For 2015, you are eligible to earn up to 200% of the Target Bonus, subject to achieving maximum level of performance under the plan. The good faith
determinations of the Board or the Committee, as applicable, with respect to such Cash Bonus or Target Bonus shall be final and binding. Except as otherwise set forth in the applicable bonus plan, you shall not earn a Cash Bonus, unless you are
employed by the Company on the date when such Cash Bonus is actually paid by the Company. In addition, the Board and/or the Committee reserves the right to pay discretionary bonuses in its sole discretion. 

(c) Equity Awards. You will continue to be eligible to receive awards of stock options, restricted stock, restricted stock
units, stock appreciation rights, performance units and performance shares or other equity awards (“Awards”) pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or the Committee
will determine in its discretion whether you will be granted any such Awards and the terms of any such Award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time. 

3. Paid Time Off and Employee Benefits. During the Employment Period, you shall be eligible to accrue paid time off
(“PTO”) in accordance with the Company’s PTO policy, as it may be amended from time to time. During the Employment Period, you shall be eligible to participate in the employee benefit plans maintained by the Company on
the same basis as those benefits are generally made available to other executive officers of the Company, subject in each case to the generally applicable terms and conditions of the plan in question and to the determinations of any person or
committee administering such employee benefit plan. The Company reserves the right to cancel or change the employee benefit plans and programs it offers to its employees at any time. 

4. Business Expenses. The Company will reimburse you for your necessary and reasonable business expenses incurred in connection
with your duties hereunder upon presentation of an itemized account and appropriate supporting documentation, all in accordance with the Company’s generally applicable policies. 

  
 -3- 

 5. Termination. 

(a) Employment at Will. Your employment shall be “at will,” meaning that either you or the Company shall be entitled
to terminate your employment at any time and for any reason, with or without Cause or notice. Any contrary representations that may have been made to you shall be superseded by this Agreement. This Agreement shall constitute the full and complete
agreement between you and the Company on the “at-will” nature of your employment, which may only be changed in an express written agreement signed by you and a duly authorized officer of the Company. 

(b) Rights Upon Termination. Except as expressly provided in Section 6, upon the termination of your employment, you shall
only be entitled to the accrued but unpaid base salary compensation, any earned but unpaid Cash Bonus for the fiscal year preceding the fiscal year in which such termination of employment occurs, PTO and other benefits earned and the reimbursements
described in this Agreement or under any Company-provided plans, policies, and arrangements for the period preceding the effective date of the termination of employment. 

6. Termination Benefits. 

(a) Termination Without Cause, Resignation for Good Reason or Termination on Account of Death or Disability Unrelated to a Change in
Control. If outside of the Change in Control Period, the Company (or any parent or subsidiary or successor of the Company) terminates your employment with the Company without Cause, you resign from your employment for Good Reason, or your
employment terminates on account of your death or disability (each, a “Qualifying Termination”), then, in each case, subject to Section 7, you will be entitled to: 

(i) receive continuing payments of severance pay at a rate equal to your Base Salary, as then in effect, for eighteen (18) months from
the date of such termination of employment (the Continuation Period”). Severance payments under this subsection (i) will be reduced by all required tax withholdings and other applicable deductions and will be paid in
accordance with the Company’s regular payroll procedures commencing on the Release Deadline (as defined in Section 7(a)); provided that the first payment shall include any amounts that would have been paid to you if payment had commenced
on the date of your separation from service; 
 (ii) a lump-sum amount payable on the Release Deadline equal to the amount of your Target
Bonus, pro-rated for the number of days served during the year of your termination of employment; 
 (iii) if you timely elect continuation
coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for you and your eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse you
for the COBRA premiums for such coverage (at the coverage levels in effect 

  
 -4- 

 
immediately prior to your termination of employment) for you and your covered dependents until the earliest of (A) eighteen (18) months from the date of such termination of employment,
(B) the expiration of your continuation coverage under COBRA or (C) the date when you receive substantially equivalent health insurance coverage in connection with new employment or self-employment; provided that such benefits shall be
taxable to you to the extent advisable under Section 105(h) of the Code; 
 (iv) Notwithstanding Section 6(a)(iii), if the
Company determines in its sole discretion that it cannot provide the COBRA benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without limitation, Section 2716 of the Public Health Service
Act), the Company will in lieu thereof provide you a taxable payment, payable on the same schedule as payments under Section 6(a)(i), in an aggregate amount equal to the eighteen (18) months of the COBRA premium that you would be required
to pay to continue your group health coverage in effect on the termination of employment date (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether you elect COBRA
continuation coverage. For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject to all applicable tax
withholdings; and 
 (v) 100% of the then-unvested shares subject to your outstanding Existing Awards shall immediately vest. 

(b) Termination Without Cause, Resignation for Good Reason or Termination on Account of Death or Disability in Connection with a Change
in Control. If during the Change in Control Period, you experience a Qualifying Termination, then subject to Section 7, you will be entitled to the benefits as provided in Section 6(a) and additionally 100% of the then-unvested
shares subject to Awards that are not Existing Awards (“New Awards”) shall immediately vest. If, however, an outstanding New Award is to vest, and/or the number of shares or amount of the New Award to vest is to be determined
based on the achievement of performance criteria, then the New Award will vest as to then-outstanding shares the number of shares or the amount of the New Award assuming the performance criteria had been achieved at 100% of target levels for the
relevant performance period(s). 
 (c) Termination for Cause or Resignation without Good Reason. If your employment with the
Company (or any parent or subsidiary or successor of the Company) terminates voluntarily by you without Good Reason, or for Cause by the, then (i) all vesting will terminate immediately with respect to your outstanding Awards; (ii) all
payments of compensation by the Company to you hereunder will terminate immediately (except as to amounts already earned); and (iii) you will only be eligible for severance benefits in accordance with the Company’s established policies, if
any, as then in effect. 
 (d) Exclusive Remedy. In the event of a termination of your employment with the Company (or any
parent or subsidiary or successor of the Company), the provisions of this Section 6 are intended to be and are exclusive and in lieu of any other rights or remedies to 

  
 -5- 

 
which you or the Company may otherwise be entitled, whether at law, tort or contract, in equity, or under this Agreement, except to the extent explicitly preserved hereunder. You will be entitled
to no severance or other benefits upon termination of Employment with respect to acceleration of award vesting or severance pay other than those benefits expressly set forth in this Section 6. 

7. Conditions to Receipt of Severance; No Duty to Mitigate. 

(a) Separation Agreement and Release of Claims. The receipt of any termination benefits pursuant to Section 6 will be
subject to you signing and not revoking a standard separation agreement and release of claims with the Company (the “Release”) and provided that such Release becomes effective and irrevocable no later than sixty
(60) days following your “separation from service” (within the meaning of Section 409A) (such 60th day, the “Release Deadline”). The Release will not include (i) a non-compete covenant or
(ii) other restrictive covenants that are not legal under applicable law. If the Release does not become effective and irrevocable by the Release Deadline, you will forfeit any rights to termination benefits under this Agreement. In no event
will termination benefits be paid or provided until and unless the Release becomes effective and irrevocable by the Release Deadline. 
 (b)
Nonsolicitation. The receipt of any termination benefits pursuant to Section 6 will be subject to you not violating the provisions of Section 9. In the event you breach the provisions of Section 9, all continuing
payments and benefits to which you may otherwise be entitled pursuant to Section 6 will immediately cease. 
 (c) Section
409A. 
 (i) Notwithstanding anything to the contrary in this Agreement, no Deferred Payments (as defined below) will be paid or
otherwise provided until you have a “separation from service” within the meaning of Section 409A. Similarly, no severance payable to you, if any, pursuant to this Agreement that otherwise would be exempt from Section 409A
pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until you have a “separation from service” within the meaning of Section 409A. Notwithstanding anything to the contrary in this Agreement, if you are a
“specified employee” within the meaning of Section 409A at the time of your separation from service (other than due to death), then the termination benefits to be paid or provided to you, if any, pursuant to this Agreement that, when
considered together with any other termination benefits, are considered deferred compensation not exempt under Section 409A (together, the “Deferred Payments”) that are payable within the first six (6) months
following your separation from service, will become payable on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of your separation from service. All subsequent Deferred Payments, if
any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if you die following your separation from service, but prior to the six (6) month anniversary
of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum at the time of your death and all other Deferred Payments will be payable in accordance with the payment

  
 -6- 

 
schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of
the Treasury Regulations. 
 (ii) The foregoing provisions are intended to comply with, and the COBRA reimbursements are intended to be
exempt from, the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will
be interpreted to so comply and, with respect to the COBRA reimbursements, to so be exempt. You and the Company agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary,
appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to you under Section 409A. 

(d) Confidential Information Agreement. Your receipt of any payments or benefits under Section 6 will be subject to you
continuing to comply with the terms of Confidentiality Agreement (as defined in Section 11(a)). 
 (e) No Duty to
Mitigate. You will not be required to mitigate the amount of any payment contemplated by this Agreement, nor will any earnings that you may receive from any other source reduce any such payment. 

8. Definitions. 

(a) “Cause” means (i) your conviction of, or plea of nolo contendere to, a felony (but excluding negligent
driving offenses or driving offenses solely related to the speed limit) and which has an adverse effect on the business or affairs of the Company, (ii) your gross and willful misconduct, (iii) your unauthorized and intentional use or
disclosure of any proprietary information or trade secrets of the Company or any other party to whom you owe an obligation of nondisclosure as a result of your relationship with the Company; (iv) your willful breach of any material obligations
under any material written agreement or covenant with the Company; (v) your refusal to perform your employment duties after you have received a written demand of performance from the Company that specifically sets forth the factual basis for
the Company’s belief that you have refused to perform your duties and have failed to cure such non-performance to the Company’s reasonable satisfaction within thirty (30) business days after receiving such notice or (vi) your
failure to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested your cooperation. No termination for Cause shall be effective unless you are given
written notice from the Board of the condition that could constitute Cause and, if capable of being cured, at least thirty (30) days to cure the condition. 

(b) “Change in Control” has the same defined meaning as shall be set forth in the Company’s 2015 Equity Incentive
Plan. 

  
 -7- 

 (c) “Change in Control Period” means the period that commences upon a
Change in Control and ends on the one (1) year anniversary following a Change in Control. 
 (d) “Code” means
the Internal Revenue Code of 1986, as amended. 
 (e) “Existing Awards” means your Awards that are outstanding as of
the Effective Date. For the avoidance of doubt, Awards granted on May 22, 2015 are not considered Existing Awards and shall instead be treated as New Awards. 

(f) “Good Reason” means your resignation within thirty (30) days following the expiration of any Company cure
period (discussed below) following the occurrence of one or more of the following, without your express written consent: (i) a material reduction of your titles, duties, authority or responsibilities without your prior consent; (ii) a
material reduction in your Base Salary (except where there is a reduction applicable to the management team generally , not to exceed 15% of the aggregate base salary); or (iii) a material change in the geographic location of your primary work
facility or location; provided, that a relocation of less than thirty (30) miles from your then-present work location will not be considered a material change in geographic location. You will not resign for Good Reason without first providing
the Company with written notice of the acts or omissions constituting the grounds for Good Reason within ninety (90) days of the initial existence of the grounds for Good Reason and a reasonable cure period of thirty (30) days following
the date the Company receives such notice during which such condition must not have been cured. 
 9. Non-Solicitation. To the
fullest extent permitted under applicable law, during the period commencing on the date of this Agreement and continuing until the first anniversary of the date when your employment terminated for any reason, you shall not directly or indirectly,
personally or through others, solicit, recruit or attempt to solicit or recruit (on your own behalf or on behalf of any other person or entity) either (i) any employee or any consultant of the Company or any of the Company’s affiliates or
(ii) the business of any customer of the Company or any of the Company’s affiliates on whom you called or with whom you became acquainted during your employment, if you are using confidential or proprietary information of the Company to
effectuate the solicitation of any such customer. You represent that you (i) are familiar with the foregoing covenant not to solicit, and (ii) are fully aware of your obligations hereunder, including, without limitation, the reasonableness
of the length of time, scope and geographic coverage of these covenants. 
 10. Golden Parachute.  

(a) Anything in this Agreement to the contrary notwithstanding, if any payment or benefit you would receive from the Company or otherwise
(“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code; and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the
Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion
of the Payment being subject to the Excise Tax; or (y) the largest portion, up to and including 

  
 -8- 

 
the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest
applicable marginal rate), results in your receipt, on an after-tax basis, of the greater amount of the Payment. Any reduction made pursuant to this Section 10(a) shall be made in accordance with the following order of priority: (i) stock
options whose exercise price exceeds the fair market value of the optioned stock (“Underwater Options”) (ii) Full Credit Payments (as defined below) that are payable in cash, (iii) non-cash Full Credit Payments that
are taxable, (iv) non-cash Full Credit Payments that are not taxable (v) Partial Credit Payments (as defined below) and (vi) non-cash employee welfare benefits. In each case, reductions shall be made in reverse chronological order
such that the payment or benefit owed on the latest date following the occurrence of the event triggering the excise tax will be the first payment or benefit to be reduced (with reductions made pro-rata in the event payments or benefits are owed at
the same time). “Full Credit Payment” means a payment, distribution or benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, that if reduced in value by one
dollar reduces the amount of the parachute payment (as defined in Section 280G of the Code) by one dollar, determined as if such payment, distribution or benefit had been paid or distributed on the date of the event triggering the excise tax.
“Partial Credit Payment” means any payment, distribution or benefit that is not a Full Credit Payment. Notwithstanding the foregoing, to the extent the Company submits any payment or benefit payable to you to the
Company’s stockholders for approval in accordance with Treasury Regulation Section 1.280G-1 Q&A 7, the foregoing provisions shall not apply following such submission and such payments and benefits will be treated in accordance with the
results of such vote, except that any reduction in, or waiver of, such payments or benefits required by such vote will be applied without any application of discretion by you and in the order prescribed by this Section. In no event shall you have
any discretion with respect to the ordering of payment reductions. 
 (b) A nationally recognized certified public accounting firm selected
by the Company (the “Accounting Firm”) shall perform the foregoing calculations related to the Excise Tax. If a reduction is required pursuant to Section 10(a), the Accounting Firm shall administer the ordering of the
reduction as set forth in Section 10(a). The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. 

(c) The Accounting Firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting
documentation, to you and the Company a within fifteen (15) calendar days after the date on which your right to a Payment is triggered. Any good faith determinations of the Accounting Firm made hereunder shall be final, binding, and conclusive
upon you and the Company. 
 11. Pre-Employment Conditions. 

(a) Confidentiality Agreement. You have entered into the Company’s Employee Confidentiality, Non-Disclosure and Assignment
of Inventions Agreement (the “Confidentiality Agreement”). You will continue to be bound by the Confidentiality Agreement during the Employment Term and thereafter in accordance with its terms. 

  
 -9- 

 (b) Right to Work. For purposes of federal immigration law, you will be required,
if you haven’t already, to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. 

12. Successors. 

(a) Company’s Successors. This Agreement shall be binding upon any successor (whether direct or indirect and whether by
purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets. For all purposes under this Agreement, the term “Company” shall include any successor
to the Company’s business or assets that become bound by this Agreement. 
 (b) Your Successors. This Agreement and all
of your rights hereunder shall inure to the benefit of, and be enforceable by, your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

13. Arbitration.  

(a) Arbitration. In consideration of your employment with the Company, its promise to arbitrate all employment-related
disputes, and your receipt of the compensation, pay raises and other benefits paid to you by the Company, at present and in the future, you agree that any and all controversies, claims, or disputes with anyone (including the Company and any
employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from your employment with the Company or termination thereof, including any breach of this
Agreement, will be subject to binding arbitration under the Federal Arbitration Act and pursuant to the Arbitration Rules set forth in California Code of Civil Procedure Section 1280 through 1294.2, including Section 1281.8 (the
“Act”), and California law, and shall be brought in your individual capacity, and not as a plaintiff, representative, or class member in any purported class, collective, or representative proceeding. Notwithstanding the
foregoing, you understand that you may bring a proceeding as a Private Attorney General as permitted by law. For the avoidance of doubt, the Federal Arbitration Act governs this Agreement and shall apply with full force and effect, notwithstanding
the application of procedural rules set forth under the Act and California law. 
 (b) Dispute Resolution. Disputes that you
agree to arbitrate, and thereby agree to waive any right to a trial by jury, include any statutory claims under local, state, or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with
Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Sarbanes Oxley Act, the Worker Adjustment and Retraining Notification Act, the Fair Labor Standards Act, the California Fair
Employment and Housing Act, the Family and Medical Leave Act, the California Family Rights Act, the California Labor Code, claims relating to employment status, classification, and relationship with the

  
 -10- 

 
Company, claims of harassment, discrimination, and wrongful termination, breach of contract and any statutory or common law claims, except as prohibited by law. You also agree to arbitrate any
and all disputes arising out of or relating to the interpretation or application of this agreement to arbitrate, but not disputes about the enforceability, revocability, or validity of this agreement to arbitrate or any portion hereof of the class,
collective and representative proceeding waiver herein. You agree that nothing in this agreement constitutes a waiver of your rights under Section 7 of the National Labor Relations Act. You further understand that this Agreement to arbitrate
also applies to any disputes that the Company may have with you. 
 (c) Procedure. You agree that any arbitration will be
administered by the Judicial Arbitration & Mediation Services, Inc. (“JAMS”), pursuant to its Employment Arbitration Rules & Procedures (the “JAMS Rules”), which are available at
http://www.jamsadr.com/rules-employment-arbitration/. The arbitrator shall have the power to decide any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication, motions to dismiss and demurrers,
prior to any arbitration hearing applying the standards set forth under the California Code of Civil Procedure. You agree that the arbitrator shall issue a written decision on the merits. The arbitrator shall have the power to award any remedies
available under applicable law, and the arbitrator shall award attorneys’ fees and costs to the prevailing party, where provided by applicable law. You agree that the decree or award rendered by the arbitrator may be entered as a final and
binding judgment in any court having jurisdiction thereof. The Company will pay for any administrative or hearing fees charged by the administrator or JAMS, and all arbitrator’s fees, except that you shall pay any filing fees associated with
any arbitration that you initiate, but only so much of the filing fee as you would have instead paid had you filed a complaint in a court of law. You agree that the arbitrator shall administer and conduct any arbitration in accordance with
California law, including the California Code of Civil Procedure and the California Evidence Code, and that the arbitrator shall apply substantive and procedural California law to any dispute or claim, without reference to the rules of conflict of
law. To the extent that the JAMS Rules conflict with California law, California law shall take precedence. The decision of the arbitrator shall be in writing. Any arbitration under this Agreement shall be conducted in San Luis Obispo County,
California. 
 (d) Remedy. Except as provided by the Act and this Agreement, arbitration shall be the sole, exclusive, and
final remedy for any dispute between you and the Company. Accordingly, except as provided by the Act and this Agreement, neither you nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration.
Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator will not order or require the Company to adopt a policy not otherwise required by law which the Company has
not adopted. 
 (e) Administrative Relief. You are not prohibited from pursuing an administrative claim with a local, state,
or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to, the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission,
the National Labor Relations Board, or the Workers’ Compensation Board. However, you may not pursue court action regarding any such claim, except as permitted by law. 

  
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 (f) Voluntary Nature of Agreement. You acknowledge and agree that you are executing
this Agreement voluntarily and without any duress or undue influence by the Company or anyone else. You further acknowledge and agree that you have carefully read this Agreement and that you have asked any questions needed for you to understand the
terms, consequences and binding effect of this Agreement and fully understands it, including that YOU ARE WAIVING YOUR RIGHT TO A JURY TRIAL. Finally, you agree that you have been provided an opportunity to seek the advice of an
attorney of your choice before signing this Agreement. 
 14. Miscellaneous Provisions. 

(a) Indemnification. The Company shall indemnify you to the maximum extent permitted by applicable law and the Company’s
Bylaws with respect to your service and you shall also be covered under a directors and officers liability insurance policy paid for by the Company to the extent that the Company maintains such a liability insurance policy now or in the future. 

(b) Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part
of this Agreement. 
 (c) Notice. Notices and all other communications contemplated by this Agreement shall be in writing and
shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In your case, mailed notices shall be addressed to you at the home address that you
most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 

(d) Modifications and Waivers. No provision of this Agreement shall be modified, waived or discharged unless the modification,
waiver or discharge is agreed to in writing and signed by you and by an authorized officer of the Company (other than you). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other
party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 
 (e)
Entire Agreement. This Agreement is an amendment and restatement of your Second Amendment to Employment Agreement with the Company entered into on August 12, 2010 (the “Existing Agreement”) and supersedes the Existing
Agreement in its entirety. No other agreements, representations or understandings (whether oral or written and whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with
respect to the subject matter hereof. This Agreement and the Confidentiality Agreement contain the entire understanding of the parties with respect to the subject matter hereof. 

  
 -12- 

 (f) Withholding Taxes. All payments made under this Agreement shall be subject to
reduction to reflect taxes or other charges required to be withheld by law. 
 (g) Choice of Law and Severability. This
Agreement shall be interpreted in accordance with the laws of the State of California without giving effect to provisions governing the choice of law. If any provision of this Agreement becomes or is deemed invalid, illegal or unenforceable in any
applicable jurisdiction by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the minimum extent necessary to conform to applicable law so as to be valid and enforceable or, if such provision
cannot be so amended without materially altering the intention of the parties, then such provision shall be stricken and the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is rendered illegal
by any present or future statute, law, ordinance or regulation (collectively, the “Law”) then that provision shall be curtailed or limited only to the minimum extent necessary to bring the provision into compliance with the
Law. All the other terms and provisions of this Agreement shall continue in full force and effect without impairment or limitation. 
 (h)
No Assignment. This Agreement and all of your rights and obligations hereunder are personal to you and may not be transferred or assigned by you at any time. The Company may assign its rights under this Agreement to any entity that
assumes the Company’s obligations hereunder in connection with any sale or transfer of all or a substantial portion of the Company’s assets to such entity. 

(i) Acknowledgment. You acknowledge that you have the opportunity to discuss this matter with and obtain advice from his private
attorney, have had sufficient time to, and have carefully read and fully understand all the provisions of this Agreement, and are knowingly and voluntarily entering into this Agreement. 

(j) Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. 
 [Signature Page Follows] 

  
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 After you’ve had an opportunity to review this Agreement, please feel free to contact me if
you have any questions or comments. To indicate your acceptance of this Agreement, please sign and date this letter in the space provided below and return it to me. 

 

			
	Very truly yours,
	
	MINDBODY, INC.
		
	By:		 /s/ Richard Stollmeyer

			(Signature)

  

	
	ACCEPTED AND AGREED:
	
	Robert Murphy
	
	 /s/ Robert Murphy

	(Signature)
	
	 5/25/15

	Date

  
 -14-

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