Document:

EX-10.15

 Exhibit 10.15 
  

General Grant Form 

PLA-FIT HOLDINGS, LLC 
 CLASS M
UNIT AWARD AGREEMENT 
 THIS AWARD AGREEMENT is made as of this      day of
        , 201    , (the “Grant Date”) between Pla-Fit Holdings, LLC, a Delaware limited liability company (the “Company”) and the undersigned Recipient
(the “Recipient”). 
 WHEREAS, the Company desires to grant to the Recipient an Award pursuant to the terms of the 2013
Equity Incentive Plan, as amended from time to time (the “Plan”); and 
 WHEREAS, the parties hereto believe that it would
be in the best interests of the Company if they agree, as provided in this Agreement, on certain matters relating to confidentiality, restricted activities and the Recipient’s Award. 

NOW THEREFORE, in consideration of the foregoing, in the agreements set forth below and the parties’ desire to further the interests of
the Company, the parties hereby agree with each other as follows: 
 1. Grant. Subject to the terms set forth in this
Agreement and in the Plan, including the condition that the Recipient execute Attachement C and comply with the Restrictive Covenants contained therein, the Company hereby grants to the Recipient [•] Class M Units. 

2. Vesting; Repurchase Rights. 

(a) Vesting 
  

	 	(i)	Eighty percent of the Class M Units granted pursuant to the Award shall vest in equal installments on each of the first five anniversaries of the Grant Date subject to the Recipient’s continued Employment through
each applicable vesting date. Notwithstanding the preceding sentence, all Unvested Class M Units granted pursuant to the Award shall fully vest upon the occurrence of a Company Sale (as defined in the LLC Agreement) subject to the Recipient’s
continued Employment through the date of such Company Sale. Upon an initial public offering of the common stock of the Company, its parent, or a subsidiary registered on a Form S-1 under the Securities Act of 1933, as amended (an “Initial
Public Offering”), subject to the Recipient’s continued Employment through the date of such initial public offering the remaining twenty percent of the Class M Units granted pursuant to the award agreement shall vest. 

	 	(ii)	The portion of the Award which is or becomes vested in accordance with the provisions of this Agreement and not forfeited or repurchased pursuant to this Agreement is referred to as “Vested” for
purposes of this Agreement and the Plan and the portion of the Award which has not become vested pursuant to the terms of this Agreement is referred to is “Unvested” for purposes of this Agreement and the Plan. 

 

	 	(iii)	In the event of the termination of the Recipient’s employment for any reason (including death or disability), no additional portion of the Award will become Vested at or after the time of such termination and the
Unvested portion of the Award shall immediately be forfeited for no consideration due to the Recipient. The Recipient’s retention of the Vested portion of an Award shall in all cases be conditioned upon the Recipient signing and returning to
the Company (without revoking) a timely and effective release of claims in the form provided by the Company by the deadline specified therein, which in all events shall be not later than the fiftieth (50th) calendar day following the date of
termination. 

  

	 	(iv)	In the event the Recipient’s employment with the Company is terminated by the Company for Cause or for breach of the Restrictive Covenants, or upon the Recipient later breaching a Restrictive Covenant, the entirety
of the Award granted hereunder shall automatically be forfeited without any further action or payment whether or not some or all of such Award had become Vested at the time of such termination. 

(b) Repurchase Rights. 
  

	 	(i)	In the event that the Recipient is no longer Employed by the Company or any of its Affiliates for any reason, any then outstanding Vested Award will be subject to repurchase by the Company pursuant to the terms and
conditions set forth in this Section 2(b). The Company’s right to repurchase pursuant to this Section 2(b) is referred to herein as the “Repurchase Option” and all or any portion of any such outstanding and Vested
Award that the Company elects to repurchase hereunder, as applicable, is referred to herein individually as the “Repurchase Award” and collectively the “Repurchase Awards.” 

 

	 	(ii)	 Upon termination of the Recipient’s Employment for any reason, the Company may elect (A) at any time prior to a Company Sale or an Initial
Public Offering, as applicable, to purchase the Repurchase Awards at a price per Repurchase Award equal to the lesser of its Fair Value on the date the Recipient’s Employment terminated or the date the repurchase occurs or (B) at any time
on or following a Company Sale or an Initial Public Offering, as applicable, to purchase the Repurchase Awards at a price per Repurchase Award equal to the Fair Value of such Award on the date the repurchase occurs (such amount, the
“Repurchase Amount”). 

	 	
“Fair Value” is defined as the amount the Recipient would receive in respect of the Vested portion of his or her Award if a Company Sale were consummated on the date the Fair
Value is to be determined, all as determined in good faith by the Administrator. 

  

	 	(iii)	The Company shall elect to exercise the Repurchase Option by delivering written notice at any time on or prior to a Company Sale (the “Repurchase Notice”) to the Recipient of the applicable Repurchase
Awards. The Repurchase Notice will include (i) the Administrator’s determination of Fair Value, (ii) the resulting calculation of the Repurchase Amount and (iii) a check for the Repurchase Amount. Following such payment
hereunder, the Recipient will have no further rights under this Agreement or the Plan. 

  

	 	(iv)	In the event that the Company has exercised the Repurchase Option pursuant to this Section 2(b) and has paid the Repurchase Amount and (a) the Recipient is not in compliance with all applicable provisions of
the Award Agreement and the Plan; (b) the Recipient breaches any agreement or covenant with the Company or its Affiliates with respect to non-competition, non-solicitation or confidentiality, or (c) the Company reasonably determines that
it could have terminated the Recipient’s Employment for Cause at the time the Recipient’s Employment terminated, the Recipient will be obligated to deliver to the Company, within five (5) days following notice from the Company that
such amount is due, the Repurchase Amount paid by the Company for the Repurchase Awards. 

 3. Restrictions
on Transfer. All Awards are non-transferable (other than as provided in the LLC Agreement), and in no event may the Recipient pledge, create a security interest in or lien on, or in any way encumber any Award. 

4. Definitions. Certain capitalized terms are used in this Agreement with the specific meanings defined herein. Any
capitalized terms used but not defined herein shall have the meanings ascribed to them in the Plan. For the purposes of this Agreement: 

(a) “Cause” shall mean (i) in the case of any Recipient who is party to an employment or severance-benefit agreement
that contains a definition of “Cause,” the definition set forth in such agreement for so long as such agreement is in effect or (ii) in the case of any other Recipient, “Cause” will mean (A) substantial failure to
perform, or substantial negligence in the performance of the Recipient’s duties and responsibilities to the Company or any of its subsidiaries, or (B) the commission by the Recipient of a felony or other crime involving moral turpitude, or
(C) the commission by the Recipient of theft, fraud, embezzlement, material breach of trust or any material act of dishonesty involving the Company or any of its Affiliates, or (D) a significant violation by the Recipient of the code of
conduct of the Company or its subsidiaries or of any statutory or common law duty of loyalty to the Company or its subsidiaries. 
 (b)
“Good Reason” shall mean “good reason” as defined in Recipient’s employment agreement with the Company, if such agreement exists and defines good reason. 

 (c) “LLC Agreement” means the Amended and Restated Limited Liability Company
Agreement of the Company dated November 8, 2012 as amended from time to time. 
 (d) “Restrictive Covenant” means the
restrictive covenants set forth on Attachment C. 
 5. Severability. The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law. 

6. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Company and the Recipient and
their respective heirs, executors, administrators, legal representatives, successors and assigns. 
 7. No Rights to
Employment. Nothing contained in this Agreement shall be construed as giving the Recipient any right to be retained, in any position, as an employee or other service provider of the Company or any Affiliate thereof. 

8. Election under Section 83(b). The Recipient and the Recipient’s spouse, if applicable, shall execute and
deliver to the Company with this executed Agreement, a copy of the Acknowledgment and Statement of Decision Regarding Election Pursuant to Section 83(b) of the Code (the “Acknowledgment”) substantially in the form attached hereto as
Attachment A, together with a copy of the Election Pursuant to Section 83(b) of the Code, substantially in the form attached hereto as Attachment B. The Recipient should consult his or her tax advisor to determine if there is a comparable
election to file in the state of his or her residence and whether such filing is desirable under the circumstances. 
 9.
Consultation with Counsel. The Recipient hereby acknowledges and represents that he has had the opportunity to consult with independent legal counsel regarding his or her rights and obligations under this Agreement and that he or she fully
understands the terms and conditions contained herein. 
 10. Notice. All notices required or permitted hereunder
shall be in writing and deemed effectively given upon personal delivery or upon deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to the other party hereto at the address shown beneath his or its
respective signature to this Agreement, or at such other address or addresses as either party shall designate to the other in accordance with this Section 10. 

11. Unit Certificate Restrictive Legends. Certificated Units evidencing the Award, to the extent such certificates are
issued, may bear such restrictive legends as the Company and/or the Company’s counsel may deem necessary or advisable under applicable law or pursuant to this Agreement, including, without limitation, the following legends: 

 “THE UNITS OR OTHER INTERESTS REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED ON
[DATE OF ISSUANCE], HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR APPLICABLE STATE SECURITIES LAWS (“STATE ACTS”) AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE ACT OR STATE ACTS OR AN EXEMPTION FROM REGISTRATION THEREUNDER. THE TRANSFER OF THE UNITS REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE CONDITIONS SPECIFIED IN AN AMENDED AND RESTATED LIMITED LIABILITY COMPANY
AGREEMENT, DATED AS OF NOVEMBER 8, 2012, AS IT MAY BE AMENDED FROM TIME TO TIME, GOVERNING THE ISSUER (THE “COMPANY”) AND BY AND AMONG THE MEMBERS. A COPY OF SUCH AGREEMENT SHALL BE FURNISHED BY THE COMPANY TO THE HOLDER HEREOF UPON
WRITTEN REQUEST AND WITHOUT CHARGE.” 
 12. Pronouns. Whenever the context may require, any pronouns used in this
Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa. 

13. Entire Agreement. This Agreement and Plan constitute the entire agreement between the parties, and supersedes all
prior agreements and understandings, relating to the subject matter of this Agreement. 
 14. Amendment. This
Agreement may be amended or modified only by a written instrument executed by the Company and the Recipient. 
 15.
Governing Law. Except as expressly provided in Attachement C, this Agreement shall be construed, interpreted and enforced in accordance with the laws of the State of Delaware. In the event of any alleged breach or threatened breach of this
Agreement, the parties hereby consent and submit to the jurisdiction of the federal and state courts in and of the State of Delaware and to service of legal process in the State of Delaware. 

16. Power of Attorney. The Recipient hereby irrevocably constitutes and appoints each of the Company and any of its
officers with full power of substitution, acting jointly or severally, as its attorney-in-fact and agent to sign, execute and deliver, in its name and on its behalf, all or any such agreement, deeds, instruments, documents and/or any counterpart
thereof or certificates or to take any such action as it deems necessary from time to time or as is required under any applicable law to admit the Recipient as a member of the Company or to conduct the business of the Company, including (without
limitation) the power and authority to sign, execute and deliver (or attach signature pages to) (i) the LLC Agreement and (ii) any amendment to the LLC Agreement adopted in accordance with its terms. This power of attorney is given to
secure the obligations of the Recipient hereunder and deemed coupled with an interest of the Company and is irrevocable. 
 [The remainder
of this page is intentionally left blank.] 

 IN WITNESS WHEREOF, the parties hereto have executed this Award Agreement as of the day and year
first above written. 
  

			
	PLA-FIT HOLDINGS, LLC
		
	By:		 
	
	 
	Name of Recipient:
	Address:

 ATTACHEMENT A 

ACKNOWLEDGMENT AND STATEMENT 

OF DECISION REGARDING ELECTION 

PURSUANT TO SECTION 83(b) OF 

THE INTERNAL REVENUE CODE 

The undersigned (which term includes the undersigned’s spouse), a Member of Pla-Fit Holdings, LLC, a Delaware Limited Liability Company
(the “Company”), and Participant in the Agreement with the Partnership (the “Agreement”) and a recipient of certain Units thereunder (the “Award”), hereby states, as of the date of issuance of the
Award, as follows: 
 1. The undersigned acknowledges receipt of a copy of the Agreement. The undersigned has carefully reviewed the
Agreement. 
 2. The undersigned either [check as applicable]: 

         (a) has consulted, and has been fully advised by, the undersigned’s own tax advisor,
                        , whose business address is
                        , regarding the federal, state and local tax consequences of being issued the Award under the Agreement,
and particularly regarding the advisability of making elections pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), and pursuant to the corresponding provisions, if any, of applicable state
laws; or 
          (b) has knowingly chosen not to consult such tax advisor. 

3. The undersigned hereby states that the undersigned is making an election pursuant to Section 83(b) of the Code and is submitting to the
Partnership, together with the undersigned’s executed Agreement, a copy of an executed election form which is attached as Exhibit B to the Agreement. 

4. Neither the Company nor a representative of the Company has made any warranty or representation to the undersigned with respect to the tax
consequences of the issuance of the Award to the undersigned pursuant to the Agreement or of the making or failure to make an election pursuant to Section 83(b) of the Code or corresponding provisions, if any, of applicable state law. 

5. The undersigned is also submitting to the company, together with the Agreement, a copy of an executed election form, if an election is made,
of the undersigned pursuant to provisions of state law corresponding to Section 83(b) of the Code, if any, which are applicable to the issuance of the Award to the undersigned pursuant to the Agreement. 

							
	Date:						  

							Participant
				
	Date:						  

							Participant’s Spouse

 ATTACHEMENT B 

ELECTION PURSUANT TO SECTION 83(b) OF THE 

INTERNAL REVENUE CODE 
 The
undersigned hereby elects pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in the undersigned’s gross income for the taxable year indicated below the excess (if any) of the fair market value of the
property described below, over the amount the undersigned paid for such property, if any, and supplies herewith the following information in accordance with the Treasury regulations promulgated under Section 83(b): 

1. The undersigned’s name, address and taxpayer identification (social security) number are: 

Name:                      
                                         
      
 Address:
                                         
                        

Social Security #:
                                         
                    
 The
undersigned’s spouse’s name, address and taxpayer identification (social security) number are (complete if applicable): 

Name:                      
                                         
                                         
                                         
                                         
                               

Address:                      
                                         
                                         
                                         
                                         
                          

Social Security #:                  
                                         
                                         
                                         
                                         
             
 2. The property with respect to which the election is made
consists of                      Units (the “Award”) of Pla-Fit Holdings, LLC, a Delaware Limited Liability Company (the
“Company”), representing a profits interest in the Company. 
 3. The date on which the Award was transferred to the
undersigned was             , 2013 and the taxable year to which this election relates is 2013. 

4. The Award is subject to the following restrictions: (a) [•] Units will be forfeited if the undersigned ceases to be an employee of
the Partnership prior to the vesting date, and (b) 100% of the Units are subject to restrictions should the undersigned wish to transfer the Award (in whole or in part). 

5. The fair market value of the Award at the time of transfer (determined without regard to any restrictions other than those which by their
terms will never lapse) is $0. 
 6. The amount paid for the Award by the undersigned was $0. 

7. A copy of this election has been furnished to the Company, and the original will be filed with the income tax return of the undersigned to
which this election relates. 

							
	Date:						  

							Participant
				
	Date:						  

							Participant’s Spouse

 ATTACHEMENT C 

RESTRICTIVE COVENANTS 

April 30, 2013 
 I, the undersigned,
acknowledge the importance to Pla-Fit Holdings, LLC (the “Company”) and its Affiliates (as hereafter defined) of protecting their legitimate interests, including without limitation the valuable confidential information and goodwill
that they have developed or acquired. Therefore, in consideration of my initial or ongoing membership on the Board of Managers of, or other service relationship with, the Company, the award granted to me under the Pla-Fit Holdings, LLC 2013
Performance Incentive Plan and my being granted access to trade secrets and other confidential information of the Company and its Affiliates, and for other good and valuable consideration, the receipt and sufficiency of which I hereby acknowledge:

 1. I agree that all Confidential Information, as defined below, which I create or to which I have access as a result of my membership on the
Board of Managers and other associations with the Company and its Affiliates is and shall remain the sole and exclusive property of the Company and its Affiliates. I agree that, except as required for the proper performance of my regular duties for
the Company, as expressly authorized in writing in advance by an expressly authorized representative of the Company, or as required by applicable law, I will never, directly or indirectly, use or disclose any Confidential Information. I understand
and agree that this restriction shall continue to apply after the termination of my relationship with the Company, howsoever caused. Further, I agree to provide prompt notice to the Company of any required disclosure of Confidential Information
sought pursuant to subpoena, court order or any other legal requirement and to provide the Company a reasonable opportunity to seek protection of the Confidential Information prior to any such disclosure. 

2. I agree that all documents, records and files, in any media of whatever kind and description, relating to the business, present or otherwise, of
the Company or its Affiliates and any copies (including without limitation electronic), in whole or in part, thereof (“Documents” and each individually, a “Document”), whether or not prepared by me, shall be the
sole and exclusive property of the Company and its Affiliates. Except as required for the proper performance of my regular duties for the Company or as expressly authorized in writing in advance by an expressly authorized representative of the
Company, I will not copy any Documents or remove any Documents, or copies, from the premises of the Company or any of its Affiliates. I will safeguard, and return to the Company immediately upon termination of my relationship with the Company, and
at such other times as may be specified by the Company, all Documents and all other property of the Company and its Affiliates, and all documents, records and files of their customers, subcontractors and suppliers (“Third-Party
Documents” and each individually a “Third-Party Document”) and all other property of such customers, subcontractors and suppliers, then in my possession or control. 

3. I shall maintain accurate and complete records of, and shall immediately and fully disclose and deliver to the Company, all Intellectual Property,
as defined below. I have attached hereto as Exhibit A, a list describing all inventions, original works of authorship, developments, improvements, and trade secrets which were made by me 

 
prior to my relationship with the Company, which belong to me and which are not assigned to the Company hereunder (collectively referred to as “Prior Inventions”) and, if no such
list is attached, I represent and warrant that there are no such Prior Inventions. If I incorporate into any of the Intellectual Property any Prior Inventions or any other invention, improvement, development, concept, discovery or other proprietary
information owned by me or in which I have an interest (collectively, including Prior Inventions, “Service Provider Inventions”), I hereby grant the Company an irrevocable, worldwide, fully paid-up, royalty-free, non-exclusive
license, with the right to sublicense through multiple tiers, to exploit or utilize the Intellectual Property as the Company deems fit in its discretion. All copyrightable works that I create in the scope of my service relationship with the Company
shall be considered “work made for hire” and shall, upon creation, be owned exclusively by the Company. 
 4. I hereby assign and
agree in the future to assign to the Company (or as otherwise directed by the Company) my full right, title and interest in and to all Intellectual Property. I agree to provide, at the Company’s request, all further cooperation which the
Company determines is necessary or desirable to accomplish the complete transfer of the Intellectual Property and all associated rights to the Company, its successors, assigns and nominees, and to ensure the Company the full enjoyment of the
Intellectual Property. To the extent that I cannot assign and transfer any of my full right, title, and interest in the Intellectual Property then I hereby grant the Company and its Affiliates an irrevocable, worldwide, fully paid-up, royalty-free,
exclusive license, with the right to sublicense through multiple tiers, to exploit or utilize the Intellectual Property as the Company deems fit in its discretion. I will not charge the Company or any of its Affiliates, successors, or assigns for
time spent in complying with these obligations under Paragraphs 4 and 5 of this Agreement. 
 5. I agree that, during my service relationship
with the Company and during the twelve (12) month period immediately following termination of that relationship, I will not, directly or indirectly, compete, or undertake any planning to compete, with the Company or any of its Affiliates, in
any geographic area in which the Company or any of its Affiliates conduct or are actively planning to conduct their business (the “Restricted Area”), whether as an owner, partner, investor, consultant, employee or otherwise.
Specifically, but without limiting the foregoing, I agree not to work or provide services, in any capacity, whether as an employee, independent contractor or otherwise, whether with or without compensation, to any Person who is engaged in any
business that is competitive with the Business of the Company or any of its Affiliates for which I have provided services, as conducted or in planning during my employment, anywhere within the Restricted Area. For purposes of this agreement,
the “Business of the Company” shall mean owning, franchising or operating low-price health and fitness clubs and “low-price health and fitness clubs” shall mean health and fitness clubs
that charge membership fees of thirty dollars ($30) or less per month. I understand that the foregoing shall not prevent my passive ownership of two percent (2%) or less of the equity securities of any publicly traded company. 

 6. I agree that, during my service relationship with the Company and during the twelve (12) month
period immediately following termination of that relationship, I will not directly or indirectly (a) solicit or encourage any franchisee of the Company or any of its Affiliates to terminate or diminish its relationship with them; or
(b) seek to persuade any such franchisee or prospective franchisee of the Company or any of its Affiliates to conduct with anyone else any business or activity which such franchisee or prospective franchisee conducts or could conduct with the
Company or any of its Affiliates. 
 7. I agree that, during my service relationship with the Company and during the twelve (12) month
period immediately following termination of that relationship , I will not, and will not assist anyone else to, (a) hire or solicit for hiring any employee of the Company or any of its Affiliates or seek to persuade any employee of the Company
or any of its Affiliates to discontinue employment or (b) solicit or encourage any independent contractor providing services to the Company or any of its Affiliates to terminate or diminish its relationship with them; provided, however, that
these restrictions shall apply only to employees and independent contractors who have provided services to the Company at any time within the immediately preceding two year period. 

8. During the twelve (12) month period immediately following the termination of my service relationship with the Company, I will notify the
Company in writing of any change in my address and of each new job or other business activity in which I plan to engage at least two weeks prior to beginning such job or activity. Such notice shall state the name and address of any new employer and
the nature of my position. I agree to provide the Company with such other pertinent information concerning such business activity as the Company may reasonably request in order to determine my continued compliance with my obligations under this
Agreement. I agree to notify my new employers of my obligations under this Agreement and hereby consent to notification by the Company to my new employers about my obligations under this Agreement. 

9. In signing this Agreement, I give the Company assurance that I have carefully read and considered all the terms and conditions of this Agreement,
including the restraints imposed on me under this Agreement. I agree without reservation that each of the restraints contained herein is necessary for the reasonable and proper protection of the goodwill, Confidential Information and other
legitimate interests of the Company and its Affiliates; that each and every one of those restraints is reasonable in respect to subject matter, length of time and geographic area; and that these restraints will not prevent me from obtaining other
suitable employment during the period in which I am bound by these restraints. I agree that I will never assert, or permit to be asserted on my behalf, in any forum, any position contrary to the foregoing. I also acknowledge and agree that, were I
to breach any of the provisions of this Agreement, the harm to the Company and its Affiliates would be irreparable. I therefore agree that in the event of such a breach or threatened breach the Company and its Affiliates shall, in addition to any
other remedies available to them, shall be entitled to preliminary and permanent injunctive relief against any such breach or threatened breach by you, without having to post bond, and will additionally be entitled to recover its reasonable
attorney’s fees and costs. Without limiting the generality of the foregoing, I agree that, in the event of my breach of any of the provisions of this Agreement, the Company shall have the immediate right to cause to be

 
cancelled, rescinded, terminated, or otherwise limited or restricted, my award under the Pla-Fit Holdings, LLC 2013 Performance Incentive Plan. I further agree that, in the event that any
provision of this Agreement shall be determined by any court of competent jurisdiction to be unenforceable by reason of its being extended over too great a time, too large a geographic area or too great a range of activities, such provision shall be
deemed to be modified to permit its enforcement to the maximum extent permitted by law. Finally, no claimed breach of contact or other violation of law attributed to the Company, or change in the nature or scope of my service relationship with the
Company, shall operate to excuse me from the performance of my obligations under this Agreement. 
  

	10.	For purposes of this Agreement, the following definitions apply: 

 “Affiliates” means all persons and
entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be by management authority, equity interest or otherwise. 

“Confidential Information” means any and all information of the Company and its Affiliates that is not generally known by others with whom the
Company or any of its Affiliates competes or does business, or with whom any of them plans to compete or do business, and any and all information, publicly known in whole or in part or not, which, if disclosed by the Company or any of its
Affiliates, would assist in competition against them, including but not limited to (a) all proprietary information of the Company and its Affiliates, including but not limited to the products and services, technical data, methods, processes,
know-how, developments, inventions, and formulae of the Company and its Affiliates, (b) the development, research, testing, marketing and financial activities and strategic plans of the Company and its Affiliates, (c) the manner in which
they operate, (d) their costs and sources of supply, (e) the identity and special needs of the customers, prospective customers and franchisees of the Company and its Affiliates, and (f) the people and organizations with whom the
Company and its Affiliates have business relationships and those relationships. 
 “Intellectual Property” means inventions, discoveries,
developments, methods, processes, compositions, works, concepts, ideas and know-how (whether or not patentable or copyrightable or constituting trade secrets) conceived, made, created, developed or reduced to practice by me during my service
relationship with the Company that relate in any way to the business, products or services of the Company or any of its Affiliates or to any prospective activity of the Company or any of its Affiliates or that result from any work performed by me
for the Company or any of its Affiliates or that make use of the Confidential Information or of facilities or equipment of the Company or any of its Affiliates. 

“Person” means an individual, a corporation, a limited liability company, an association, a partnership, an estate, a trust and any other entity or
organization, other than the Company or any of its Affiliates. 
 11. This is a New Hampshire contract and shall be governed by and construed in
accordance with the laws of the State of New Hampshire, without regard to any conflict of laws principles to the contrary. In the event of any alleged breach of this Agreement, I hereby consent and submit to the jurisdiction of the federal and state
courts in and of the State of New Hampshire. 

 12. I represent and warrant that my service relationship with the Company and the execution and
performance of this Agreement will not breach or be in conflict with any other agreement to which I am a party or am bound and that I am not now subject to any covenants against competition or similar covenants or other obligation to third parties
or to any court order, judgment or decree that would affect the performance of my obligations hereunder or of my duties and responsibilities to the Company and its Affiliates. I will not disclose to or use on behalf of the Company or its Affiliates,
or induce the Company or any of its Affiliates to use, any proprietary information of any previous employer of mine or other third party without that party’s consent. 

13. This Agreement sets forth the entire agreement between me and the Company and supersedes all prior and contemporaneous communications, agreements
and understandings, written or oral, with respect to the subject matter hereof; provided, however, that this Agreement shall not terminate or supersede any additional obligations I may have pursuant to any other agreement or under applicable law
with respect to confidentiality, assignment of rights to intellectual property or the like. In the event of conflict between this Agreement and any prior agreement between me and the Company, this Agreement shall govern. No marking or like change to
the body of this Agreement shall be of any force or effect and this Agreement shall be interpreted as if such change had not been made. This Agreement may not be modified or amended, and no breach shall be deemed to be waived, unless agreed to in
writing by me and an expressly authorized officer of the Company. If any provision of this Agreement should, for any reason, be held invalid or unenforceable in any respect, it shall not affect any other provisions, and shall be construed by
limiting it so as to be enforceable to the maximum extent permissible by law. Provisions of this Agreement shall survive any termination if so provided in this Agreement or if necessary or desirable to accomplish the purpose of other surviving
provisions. 
 14. Neither the Company nor I may make any assignment of this Agreement or any interest in it, by operation of law or otherwise,
without the prior written consent of the other; provided, however, that the Company may assign its rights and obligations under this Agreement without my consent (a) in the event that I am transferred to a position with one of the
Company’s Affiliates or (b) in the event that the Company shall hereafter effect a reorganization, consolidate with, or merge into any Person or Affiliate or transfer to any Person or Affiliate all or substantially all of the business,
properties or assets of the Company. This Agreement shall inure to the benefit of and be binding upon me and the Company, and each of our respective successors, executors, administrators, heirs, representatives and permitted assigns. I also agree
that each of the Company’s Affiliates shall have the right to enforce all of my obligations to that Affiliate under this Agreement. 
 15.
I acknowledge and agree that this Agreement does not in any way restrict my right or that of the Company to terminate my service relationship with the Company at any time, with or without notice or cause. In signing this Agreement, I give the
Company assurance that I have read and understood, and have had a full and reasonable 

 
opportunity to consider, its terms and to consult with any person of my choosing before signing; that I have not relied on any agreements or representations, express or implied, that are not set
forth expressly in this Agreement; and that I have signed this Agreement knowingly and voluntarily. 
 Intending to be legally bound hereby, I have
signed this Agreement as of the day and year first written above. 
  

	
	Signature:                                    
                          
	
	Printed
Name:                                        
              

 EXHIBIT A 

LIST OF PRIOR INVENTIONS AND ORIGINAL WORKS OF AUTHORSHIP 
  

					
	 TITLE
	  	 DATE
	  	 IDENTIFYING NUMBER OR BRIEF
DESCRIPTION

                     No inventions or improvements

                      Additional sheets attached

 Signature of Recipient (as of the date first written above):EX-10.16

 Exhibit 10.16 

PLANET FITNESS, INC. 

2015 OMNIBUS INCENTIVE PLAN 
  

	1.	DEFINED TERMS 

 Exhibit A, which is incorporated by reference, defines the terms
used in the Plan and sets forth certain operational rules related to those terms. 
  

	2.	PURPOSE 

 The Plan has been established to advance the interests of the Company by
providing for the grant to Participants of Stock, Stock-based and other incentive Awards. 
  

	3.	ADMINISTRATION 

 The Administrator has discretionary authority to interpret the Plan;
determine eligibility for and grant Awards; determine, modify or waive the terms and conditions of any Award; determine the form of settlement of Awards (whether in cash, shares of Stock or other property); prescribe forms, rules and procedures
relating to the Plan; and otherwise do all things necessary or appropriate to carry out the purposes of the Plan. Determinations of the Administrator made under the Plan will be conclusive and will bind all parties. 

 

	4.	LIMITS ON AWARDS UNDER THE PLAN 

 (a) Number of Shares. The maximum number
of shares of Stock that may be delivered in satisfaction of Awards under the Plan is [•] shares. Up to the total number of shares available for Awards to employee Participants may be issued in satisfaction of ISOs, but nothing in this
Section 4(a) will be construed as requiring that any, or any fixed number of, ISOs be awarded under the Plan. The limits set forth in this Section 4(a) shall be construed to comply with Section 422. For purposes of this
Section 4(a), the number of shares of Stock delivered in satisfaction of Awards will be determined net of shares of Stock withheld by the Company in payment of the exercise price or purchase price of the Award or in satisfaction of tax
withholding requirements with respect to the Award and, for the avoidance of doubt, without including any shares of Stock underlying Awards settled in cash or that otherwise expire or become unexercisable without having been exercised or that are
forfeited to or repurchased by the Company due to failure to vest. To the extent consistent with the requirements of Section 422 and the regulations thereunder, and with other applicable legal requirements (including applicable stock exchange
requirements), Stock issued under awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition shall not reduce the number of shares of Stock available for Awards under the Plan.  

(b) Type of Shares. Stock delivered by the Company under the Plan may be authorized but unissued Stock or previously issued
Stock acquired by the Company. No fractional shares of Stock will be delivered under the Plan. 

 (c) Individual Limits. The following additional limits will apply to Awards of the
specified type granted or, in the case of Cash Awards, payable to any person in any calendar year: 
  

	 	(1)	Stock Options: [•] shares of Stock. 

  

	 	(2)	SARs: [•] shares of Stock. 

  

	 	(3)	Awards other than Stock Options, SARs or Cash Awards: [•] shares of Stock. 

  

	 	(4)	Cash Awards: $[•]. 

 In applying the foregoing limits, (i) all Awards of the
specified type granted to the same person in the same calendar year will be aggregated and made subject to one limit; (ii) the limits applicable to Stock Options and SARs refer to the number of shares of Stock subject to those Awards;
(iii) the share limit under clause (3) refers to the maximum number of shares of Stock that may be delivered, or the value of which could be paid in cash or other property, under an Award or Awards of the type specified in clause
(3) assuming a maximum payout; and (iv) the dollar limit under clause (4) refers to the maximum dollar amount payable under an Award or Awards of the type specified in clause (4) assuming a maximum payout. The foregoing
provisions will be construed in a manner consistent with Section 162(m), including, without limitation, where applicable, the rules under Section 162(m) pertaining to permissible deferrals of exempt awards. 

(d) Non-Employee Director Limits. In the case of a Director, additional limits shall apply such that the maximum grant-date fair
value of Stock-denominated Awards granted in any calendar year during any part of which the Director is then eligible under the Plan shall be $400,000, except that such limit for a non-employee Chairman of the Board or lead Director shall be
$700,000, in each case, computed in accordance with FASB ASC Topic 718 (or any successor provision). The foregoing additional limits related to Directors shall not apply to any Award or shares of Stock granted pursuant to a Director’s election
to receive an Award or shares of Stock in lieu of cash retainers or other fees (to the extent such Award or shares of Stock have a fair value equal to the value of such cash retainers or other fees).  

 

	5.	ELIGIBILITY AND PARTICIPATION 

 The Administrator will select Participants from among
key Employees and directors of, and consultants and advisors to, the Company and its Affiliates. Eligibility for Cash Awards and ISOs is limited to individuals described in the first sentence of this Section 5 who are employees of the Company
or of a “parent corporation” or “subsidiary corporation” of the Company as those terms are defined in Section 424 of the Code. Eligibility for Stock Options other than ISOs is limited to individuals described in the first
sentence of this Section 5 who are providing direct services on the date of grant of the Stock Option to the Company or to a subsidiary of the Company that would be described in the first sentence of Section 1.409A-1(b)(5)(iii)(E) of the
Treasury Regulations. 

  
 2 

	6.	RULES APPLICABLE TO AWARDS 

 (a) All Awards. 

(1) Award Provisions. The Administrator will determine the terms of all Awards, subject to the limitations provided herein. By
accepting (or, under such rules as the Administrator may prescribe, being deemed to have accepted) an Award, the Participant will be deemed to have agreed to the terms of the Award and the Plan. Notwithstanding any provision of this Plan to the
contrary, awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition may contain terms and conditions that are inconsistent with the terms and conditions specified herein, as determined by the
Administrator. 
 (2) Term of Plan. No Awards may be made after ten years from the Date of Adoption, but previously
granted Awards may continue beyond that date in accordance with their terms.  
 (3) Transferability. Neither ISOs nor,
except as the Administrator otherwise expressly provides in accordance with the last sentence of this Section 6(a)(3), other Awards may be transferred other than by will or by the laws of descent and distribution. During a Participant’s
lifetime, ISOs (and, except as the Administrator otherwise expressly provides in accordance with the last sentence of this Section 6(a)(3), SARs and NSOs) may be exercised only by the Participant. The Administrator may permit the gratuitous
transfer (i.e., transfer not for value) of Awards other than ISOs to any transferee eligible to be covered by the provisions of Form S-8 (under the Securities Act of 1933, as amended), subject to such limitations as the
Administrator may impose. 
 (4) Vesting, etc. The Administrator will determine the
time or times at which an Award will vest or become exercisable and the terms on which a Stock Option or SAR will remain exercisable. Without limiting the foregoing, the Administrator may at any time accelerate the vesting or exercisability of an
Award, regardless of any adverse or potentially adverse tax or other consequences resulting from such acceleration. Unless the Administrator expressly provides otherwise, however, the following rules will apply if a Participant’s Employment
ceases: 
 (A) Immediately upon the cessation of the Participant’s Employment and except as provided in
(B) and (C) below, each Stock Option and SAR that is then held by the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate and all other Awards that are then held by the
Participant or by the Participant’s permitted transferees, if any, to the extent not already vested will be forfeited. 

(B) Subject to (C) and (D) below, all Stock Options and SARs held by the Participant or the
Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of three months or (ii) the
period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon immediately terminate. 

  
 3 

 (C) All Stock Options and SARs held by a Participant or the
Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment due to his or her death or due to the termination of the Participant’s Employment by the Company due to his or her
Disability, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of twelve (12) months or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without
regard to this Section 6(a)(4), and will thereupon immediately terminate. 
 (D) All Stock Options and SARs
(whether or not exercisable) held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment will immediately terminate upon such cessation of Employment if the
termination is for Cause or occurs in circumstances that in the sole determination of the Administrator would have constituted grounds for the Participant’s Employment to be terminated for Cause. 

(5) Additional Restrictions. The Administrator may cancel, rescind, withhold or otherwise limit or restrict any Award at any
time if the Participant is not in compliance with all applicable provisions of the Award agreement and the Plan, or if the Participant breaches any agreement with the Company or its Affiliates with respect to non-competition, non-solicitation or
confidentiality. Without limiting the generality of the foregoing, the Administrator may recover Awards made under the Plan and payments or shares of Stock delivered under or gain in respect of any Award in accordance with any applicable Company
clawback or recoupment policy, as such policy may be amended and in effect from time to time, or as otherwise required by applicable law or applicable stock exchange listing standards, including, without limitation, Section 10D of the
Securities Exchange Act of 1934, as amended. 
 (6) Taxes. The delivery, vesting and retention of Stock, cash or other
property under an Award are conditioned upon full satisfaction by the Participant of all tax withholding requirements with respect to the Award. The Administrator will prescribe such rules for the withholding of taxes as it deems necessary. Each
Participant agrees promptly to remit to the Company, in cash, the full amount of all taxes required to be withheld in connection with an Award unless the Administrator, in its sole discretion, provides alternative means for satisfying the
Company’s tax withholding requirements. The Administrator may, but need not, hold back shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax withholding requirements (but not in
excess of the minimum withholding required by law to the extent required to not result in adverse accounting treatment of an Award under U.S. generally accepted accounting principles, as determined by the Administrator). 

(7) Dividend Equivalents, etc. The Administrator may provide for the payment of amounts (on
terms and subject to conditions established by the Administrator) in lieu of cash dividends or other cash distributions with respect to Stock subject to an Award whether or not the holder of such Award is otherwise entitled to share in the actual
dividend or distribution in respect of such Award. Dividends or dividend equivalent amounts payable in respect of Awards that are subject to restrictions may be subject to such limits or restrictions as the Administrator may impose.  

  
 4 

 (8) Rights Limited. Nothing in the Plan will be construed as giving any person the
right to continued employment or service with the Company or its Affiliates, or any rights as a stockholder except as to shares of Stock actually issued under the Plan. The loss of existing or potential profit in Awards will not constitute an
element of damages in the event of a termination of Employment for any reason, even if the termination is in violation of an obligation of the Company or any Affiliate to the Participant. 

(9) Section 162(m). In the case of any Performance Award (other than a Stock Option or SAR) intended to qualify for the
performance-based compensation exception under Section 162(m), the Administrator will establish the applicable Performance Criterion or Criteria in writing no later than ninety (90) days after the commencement of the period of service to
which the performance relates (or at such earlier time as is required to qualify the Award as performance-based under Section 162(m)) and, prior to the event or occurrence (grant, vesting or payment, as the case may be) that is conditioned on
the attainment of such Performance Criterion or Criteria, will certify whether it or they have been attained. The preceding sentence will not apply to an Award eligible (as determined by the Administrator) for exemption from the limitations of
Section 162(m) by reason of the post-initial public offering transition relief in Section 1.162-27(f) of the Treasury Regulations. 

(10) Coordination with Other Plans. Awards under the Plan may be granted in tandem with, or in satisfaction of or substitution
for, other Awards under the Plan or awards made under other compensatory plans or programs of the Company or its Affiliates. For example, but without limiting the generality of the foregoing, awards under other compensatory plans or programs of the
Company or its Affiliates may be settled in Stock (including, without limitation, Unrestricted Stock) if the Administrator so determines, in which case the shares delivered will be treated as awarded under the Plan (and will reduce the number of
shares thereafter available under the Plan in accordance with the rules set forth in Section 4). In any case where an award is made under another plan or program of the Company or its Affiliates and such award is intended to qualify for the
performance-based compensation exception under Section 162(m), and such award is settled by the delivery of Stock or another Award under the Plan, the applicable Section 162(m) limitations under both the other plan or program and under the
Plan will be applied to the Plan as necessary (as determined by the Administrator) to preserve the availability of the Section 162(m) performance-based compensation exception with respect thereto. 

(11) Section 409A. Each Award will contain such terms as the Administrator determines, and will be construed and
administered, such that the Award either qualifies for an exemption from the requirements of Section 409A or satisfies such requirements. 

(12) Fair Market Value. In determining the fair market value of any share of Stock under the Plan, the Administrator will make
the determination in good faith consistent with the rules of Section 422 and Section 409A, to the extent applicable. 

(b) Stock Options and SARs. 

(1) Time and Manner of Exercise. Unless the Administrator expressly provides otherwise, no Stock Option or SAR will be deemed to
have been exercised until the  

  
 5 

 
Administrator receives a notice of exercise (in form acceptable to the Administrator), which if the Administrator so determines may be an electronic notice, signed (including electronic
signature in form acceptable to the Administrator) by the appropriate person and accompanied by any payment required under the Award. A Stock Option or SAR exercised by any person other than the Participant will not be deemed to have been exercised
until the Administrator has received such evidence as it may require that the person exercising the Award has the right to do so. The Administrator may impose conditions on the exercisability of Awards, including limitations on the time periods
during which Awards may be exercised or settled. 
 (2) Exercise Price. The exercise price (or the base value from
which appreciation is to be measured) of each Stock Option or SAR will be no less than 100% (or in the case of an ISO granted to a ten-percent shareholder within the meaning of subsection (b)(6) of Section 422, 110%) of the fair market value of
the Stock subject to the Award, determined as of the date of grant, or such higher amount as the Administrator may determine in connection with the grant. Except in connection with a corporate transaction involving the Company (which term shall
include, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of shares) or as otherwise contemplated by
Section 7 of the Plan, the terms of outstanding Stock Options or SARs, as applicable, may not be amended to reduce the exercise prices of such Stock Options or the base values from which appreciation under such SARs are to be measured other
than in accordance with the stockholder approval requirements of the New York Stock Exchange. 
 (3) Payment of Exercise
Price. Where the exercise of an Award is to be accompanied by payment, payment of the exercise price will be by cash or check acceptable to the Administrator or by such other legally permissible means, if any, as may be acceptable to the
Administrator. 
 (4) Maximum Term. Stock Options and SARs will have a maximum term not to exceed ten (10) years
from the date of grant (or five (5) years from the date of grant in the case of an ISO granted to a ten-percent shareholder described in Section 6(b)(2) above). 

 

	7.	EFFECT OF CERTAIN TRANSACTIONS 

 (a) Mergers,
etc. Except as otherwise provided in an Award agreement, the following provisions will apply in the event of a Covered Transaction: 

(1) Assumption or Substitution. If the Covered Transaction is one in which there is an acquiring or surviving entity, the
Administrator may (but, for the avoidance of doubt, need not) provide (i) for the assumption or continuation of some or all outstanding Awards or any portion thereof or (ii) for the grant of new awards in substitution therefor by the
acquiror or survivor or an affiliate of the acquiror or survivor. 
 (2) Cash-Out of Awards. Subject to
Section 7(a)(5) below the Administrator may (but, for the avoidance of doubt, need not) provide for payment (a “cash-out”), with respect to some or all Awards or any portion thereof, equal in the case of each affected Award or portion
thereof to the excess, if any, of (A) the fair market value of one share of Stock times the number  

  
 6 

 
of shares of Stock subject to the Award or such portion, over (B) the aggregate exercise or purchase price, if any, under the Award or such portion (in the case of an SAR, the aggregate
base value above which appreciation is measured), in each case on such payment terms (which need not be the same as the terms of payment to holders of Stock) and other terms, and subject to such conditions, as the Administrator determines; it being
understood that if the exercise or purchase price (or base value) of an Award is equal to or greater than the fair market value of one share of Stock, the Award may be cancelled with no payment due hereunder. 

(3) Acceleration of Certain Awards. Subject to Section 7(a)(5) below, the Administrator may (but, for the avoidance of
doubt, need not) provide that any Award requiring exercise will become exercisable, in full or in part and/or that the delivery of any shares of Stock remaining deliverable under any outstanding Award of Stock Units (including Restricted Stock Units
and Performance Awards to the extent consisting of Stock Units) will be accelerated in full or in part, in each case on a basis that gives the holder of the Award a reasonable opportunity, as determined by the Administrator, following exercise of
the Award or the delivery of the shares, as the case may be, to participate as a stockholder in the Covered Transaction.  
 (4)
Termination of Awards Upon Consummation of Covered Transaction. Except as the Administrator may otherwise determine in any case, each Award will automatically terminate (and in the case of outstanding shares of Restricted Stock, will
automatically be forfeited) upon consummation of the Covered Transaction, other than Awards assumed pursuant to Section 7(a)(1) above. 

(5) Additional Limitations. Any share of Stock and any cash or other property delivered pursuant to Section 7(a)(2) or
Section 7(a)(3) above with respect to an Award may, in the discretion of the Administrator, contain such restrictions, if any, as the Administrator deems appropriate to reflect any performance or other vesting conditions to which the Award was
subject and that did not lapse (and were not satisfied) in connection with the Covered Transaction. For purposes of the immediately preceding sentence, a cash-out under Section 7(a)(2) above or acceleration under Section 7(a)(3) above will
not, in and of itself, be treated as the lapsing (or satisfaction) of a performance or other vesting condition. In the case of Restricted Stock that does not vest and is not forfeited in connection with the Covered Transaction, the Administrator may
require that any amounts delivered, exchanged or otherwise paid in respect of such Stock in connection with the Covered Transaction be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry
out the intent of the Plan.  
 (b) Changes in and Distributions with Respect to Stock. 

(1) Basic Adjustment Provisions. In the event of a stock dividend, stock split or combination of shares (including a reverse
stock split), recapitalization or other change in the Company’s capital structure that constitutes an equity restructuring within the meaning of FASB ASC Topic 718, the Administrator will make appropriate adjustments to the maximum number of
shares of Stock that may be delivered under the Plan and to the maximum limits described in Section 4(c) and will also make appropriate adjustments to the number and kind of shares of stock or securities subject to Awards then outstanding or
subsequently granted, any exercise or purchase prices (or base values) relating to Awards and any other provision of Awards affected by such change. 

  
 7 

 (2) Certain Other Adjustments. The Administrator may also make adjustments of the
type described in Section 7(b)(1) above to take into account distributions to stockholders other than those provided for in Section 7(a) and 7(b)(1), or any other event, if the Administrator determines that adjustments are appropriate to
avoid distortion in the operation of the Plan, having due regard for the qualification of ISOs under Section 422, the requirements of Section 409A, and for the performance-based compensation rules of Section 162(m), where
applicable. 
 (3) Continuing Application of Plan Terms. References in the Plan to shares of Stock will be construed to
include any stock or securities resulting from an adjustment pursuant to this Section 7. 
  

	8.	LEGAL CONDITIONS ON DELIVERY OF STOCK 

 The Company will not be obligated to deliver any
shares of Stock pursuant to the Plan or to remove any restriction from shares of Stock previously delivered under the Plan until: (i) the Company is satisfied that all legal matters in connection with the issuance and delivery of such shares
have been addressed and resolved; (ii) if the outstanding Stock is at the time of delivery listed on any stock exchange or national market system, the shares to be delivered have been listed or authorized to be listed on such exchange or system
upon official notice of issuance; and (iii) all conditions of the Award have been satisfied or waived. The Company may require, as a condition to exercise of the Award, such representations or agreements as counsel for the Company may consider
appropriate to avoid violation of the Securities Act of 1933, as amended, or any applicable state or non-U.S. securities law. Any Stock required to be issued to Participants under the Plan will be evidenced in such manner as the Administrator may
deem appropriate, including book-entry registration or delivery of stock certificates. In the event that the Administrator determines that Stock certificates will be issued to Participants under the Plan, the Administrator may require that
certificates evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the Company may hold the certificates pending lapse of the applicable restrictions. 

 

	9.	AMENDMENT AND TERMINATION 

 The Administrator may at any time or times amend the Plan or
any outstanding Award for any purpose which may at the time be permitted by law, and may at any time terminate the Plan as to any future grants of Awards; provided, that, except as otherwise expressly provided in the Plan, the Administrator may not,
without the Participant’s consent, alter the terms of an Award so as to affect materially and adversely the Participant’s rights under the Award, unless the Administrator expressly reserved the right to do so at the time the Award was
granted. Any amendments to the Plan will be conditioned upon stockholder approval only to the extent, if any, such approval is required by law (including the Code and applicable stock exchange requirements), as determined by the Administrator. 

  
 8 

	10.	OTHER COMPENSATION ARRANGEMENTS 

 The existence of the Plan or the grant of any Award
will not in any way affect the Company’s right to award a person bonuses or other compensation in addition to Awards under the Plan. 
  

	11.	MISCELLANEOUS 

 (a) Waiver of Jury Trial. By accepting an Award under the
Plan, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan and any Award, or under any amendment, waiver, consent, instrument, document or other agreement delivered or
which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim will be tried before a court and not before a jury. By accepting an Award under the Plan, each Participant certifies that no
officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding or counterclaim, seek to enforce the foregoing waivers. Notwithstanding anything to the
contrary in the Plan, nothing herein is to be construed as limiting the ability of the Company and a Participant to agree to submit disputes arising under the terms of the Plan or any Award made hereunder to binding arbitration or as limiting the
ability of the Company to require any eligible individual to agree to submit such disputes to binding arbitration as a condition of receiving an Award hereunder.  

(b) Limitation of Liability. Notwithstanding anything to the contrary in the Plan, neither the Company, nor any Affiliate, nor
the Administrator, nor any person acting on behalf of the Company, any Affiliate, or the Administrator, will be liable to any Participant or to the estate or beneficiary of any Participant or to any other holder of an Award by reason of any
acceleration of income, or any additional tax (including any interest and penalties), asserted by reason of the failure of an Award to satisfy the requirements of Section 422 or Section 409A or by reason of Section 4999 of the Code,
or otherwise asserted with respect to the Award.  
  

	12.	ESTABLISHMENT OF SUB-PLANS 

 The Administrator may from time to time establish one or
more sub-plans under the Plan for purposes of satisfying applicable blue sky, securities or tax laws of various jurisdictions. The Administrator will establish such sub-plans by adopting supplements to the Plan setting forth (i) such
limitations on the Administrator’s discretion under the Plan as it deems necessary or desirable and (ii) such additional terms and conditions not otherwise inconsistent with the Plan as it deems necessary or desirable. All supplements so
established will be deemed to be part of the Plan, but each supplement will apply only to Participants within the affected jurisdiction (as determined by the Administrator). 
  

	13.	GOVERNING LAW 

 (a) Certain Requirements of Corporate Law. Awards will be
granted and administered consistent with the requirements of applicable Delaware law relating to the issuance of stock and the consideration to be received therefor, and with the applicable requirements of the stock exchanges or other trading
systems on which the Stock is listed or entered for trading, in each case as determined by the Administrator. 

  
 9 

 (b) Other Matters. Except as otherwise provided by the express terms of an Award
agreement, under a sub-plan described in Section 12 or as provided in Section 13(a) above, the provisions of the Plan and of Awards under the Plan and all claims or disputes arising out of or based upon the Plan or any Award under the Plan
or relating to the subject matter hereof or thereof will be governed by and construed in accordance with the domestic substantive laws of the State of New Hampshire without giving effect to any choice or conflict of laws provision or rule that would
cause the application of the domestic substantive laws of any other jurisdiction. 
 (c) Jurisdiction. By accepting an
Award, each Participant will be deemed to (a) have submitted irrevocably and unconditionally to the jurisdiction of the federal and state courts located within the geographic boundaries of the United States District Court for the District of
New Hampshire for the purpose of any suit, action or other proceeding arising out of or based upon the Plan or any Award; (b) agree not to commence any suit, action or other proceeding arising out of or based upon the Plan or an Award, except
in the federal and state courts located within the geographic boundaries of the United States District Court for the District of New Hampshire; and (c) waive, and agree not to assert, by way of motion as a defense or otherwise, in any such
suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an
inconvenient forum, that the venue of the suit, action or proceeding is improper or that the Plan or an Award or the subject matter thereof may not be enforced in or by such court.  

  
 10 

 EXHIBIT A 

Definition of Terms 

The following terms, when used in the Plan, will have the meanings and be subject to the provisions set forth below: 

“Administrator”: The Compensation Committee, except that the Compensation Committee may delegate (i) to one or more of
its members (or one or more other members of the Board (including the full Board)) such of its duties, powers and responsibilities as it may determine; (ii) to one or more officers of the Company the power to grant Awards to the extent
permitted by applicable law; and (iii) to such Employees or other persons as it determines such ministerial tasks as it deems appropriate. In the event of any delegation described in the preceding sentence, the term “Administrator”
will include the person or persons so delegated to the extent of such delegation. 
 “Affiliate”: Any corporation or
other entity that stands in a relationship to the Company that would result in the Company and such corporation or other entity being treated as one employer under Section 414(b) and Section 414(c) of the Code,
provided that, for purposes of determining treatment as a single employer under Section 414(b) and Section 414(c) of the Code, “50%” shall replace “80%” in the applicable stock ownership
requirements under such sections of the Code and the regulations thereunder. 
 “Award”: Any or a combination of the
following:  
  

	 	(i)	Stock Options. 

  

	 	(ii)	SARs. 

  

	 	(iii)	Restricted Stock. 

  

	 	(iv)	Unrestricted Stock. 

  

	 	(v)	Stock Units, including Restricted Stock Units. 

  

	 	(vi)	Performance Awards. 

  

	 	(vii)	Cash Awards. 

  

	 	(viii)	Awards (other than Awards described in (i) through (vii) above) that are convertible into or otherwise based on Stock. 

“Board”: The Board of Directors of the Company. 

“Cash Award”: An Award denominated in cash. 

  
 11 

 “Cause”: In the case of any Participant who is party to an effective employment
or severance-benefit agreement with the Company or an Affiliate of the Company that contains a definition of “Cause,” the definition set forth in such agreement will apply with respect to such Participant under the Plan for so long as such
agreement is in effect. In the case of any other Participant, “Cause” will mean, as determined by the Administrator in its reasonable judgment, (i) a substantial failure of the Participant to perform the Participant’s duties and
responsibilities to the Company or Affiliates or substantial negligence in the performance of such duties and responsibilities; (ii) the commission by the Participant of a felony or a crime involving moral turpitude; (iii) the commission
by the Participant of theft, fraud, embezzlement, material breach of trust or any material act of dishonesty involving the Company or any of its Affiliates; (iv) a significant violation by the Participant of the code of conduct of the Company
or its Affiliates of any material policy of the Company or its Affiliates, or of any statutory or common law duty of loyalty to the Company or its Affiliates; (v) material breach of any of the terms of the Plan or any Award made under the Plan,
or of the terms of any other agreement between the Company or Affiliates and the Participant; or (vi) other conduct by the Participant that could be expected to be harmful to the business, interests or reputation of the Company. 

“Code”: The U.S. Internal Revenue Code of 1986 as from time to time amended and in effect, or any successor statute as from
time to time in effect. 
 “Compensation Committee”: The Compensation Committee of the Board. 

“Company”: Planet Fitness, Inc. 

“Covered Transaction”: Any of (i) a consolidation, merger, or similar transaction or series of related transactions,
including a sale or other disposition of stock, in which the Company is not the surviving corporation or that results in the acquisition of all or substantially all of the Company’s then outstanding common stock by a single person or entity or
by a group of persons and/or entities acting in concert, (ii) a sale or transfer of all or substantially all the Company’s assets, or (iii) a dissolution or liquidation of the Company. Where a Covered Transaction involves a tender
offer pursuant to which at least a majority of the Company’s then outstanding common stock is purchased by a single person or entity or by a group of persons and/or entities acting in concert that is reasonably expected to be followed by a
merger described in clause (i) (as determined by the Administrator), the Covered Transaction shall be deemed to have occurred upon consummation of the tender offer. 

“Date of Adoption”: The date the Plan was approved by the Company’s stockholders or adopted by the Board, as determined
by the Compensation Committee. 
 “Director”: A member of the Board who is not an employee. 

“Disability”: In the case of any Participant who is party to an effective employment or severance-benefit agreement with the
Company or an Affiliate of the Company that contains a definition of “Disability,” the definition set forth in such agreement will apply with respect to such Participant under the Plan for so long as such agreement is in effect. In the
case of any other Participant, a permanent disability as defined in the long-term disability plan maintained by the Company or one of its Affiliates, or as defined from time to time by the Company in its sole discretion. 

  
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 “Employee”: Any person who is employed by the Company or an Affiliate.

 “Employment”: A Participant’s employment or other service relationship with the Company or an Affiliate.
Employment will be deemed to continue, unless the Administrator expressly provides otherwise, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 5 to the Company or an Affiliate. If
a Participant’s employment or other service relationship is with an Affiliate and that entity ceases to be an Affiliate, the Participant’s Employment will be deemed to have terminated when the entity ceases to be an Affiliate unless the
Participant transfers Employment to the Company or its remaining Affiliates. Notwithstanding the foregoing and the definition of “Affiliate” above, in construing the provisions of any Award relating to the payment of “nonqualified
deferred compensation” (subject to Section 409A) upon a termination or cessation of Employment, references to termination or cessation of employment, separation from service, retirement or similar or correlative terms will be construed to
require a “separation from service” (as that term is defined in Section 1.409A-1(h) of the Treasury Regulations, after giving effect to the presumptions contained therein) from the Company and from all other corporations and trades or
businesses, if any, that would be treated as a single “service recipient” with the Company under Section 1.409A-1(h)(3) of the Treasury Regulations. The Company may, but need not, elect in writing, subject to the applicable
limitations under Section 409A, any of the special elective rules prescribed in Section 1.409A-1(h) of the Treasury Regulations for purposes of determining whether a “separation from service” has occurred. Any such written
election will be deemed a part of the Plan. 
 “ISO”: A Stock Option intended to be an “incentive stock
option” within the meaning of Section 422. Each Stock Option granted pursuant to the Plan will be treated as providing by its terms that it is to be an NSO unless, as of the date of grant, it is expressly designated as an ISO. 

“NSO”: A Stock Option that is not intended to be an “incentive stock option” within the meaning of
Section 422.  
 “Participant”: A person who is granted an Award under the Plan. 

“Performance Award”: An Award subject to Performance Criteria. The Administrator in its discretion may grant Performance
Awards that are intended to qualify for the performance-based compensation exception under Section 162(m) and Performance Awards that are not intended so to qualify. 

“Performance Criteria”: Specified criteria, other than the mere continuation of Employment or the mere passage of time, the
satisfaction of which is a condition for the grant, exercisability, vesting or full enjoyment of an Award. For purposes of Awards that are intended to qualify for the performance-based compensation exception under Section 162(m), a Performance
Criterion will mean an objectively determinable measure of performance relating to any or any combination of the following (measured either absolutely or comparatively (including, without limitation, by reference to an index or indices or a
specified peer group) and  

  
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determined either on a consolidated basis or, as the context permits, on a divisional, subsidiary, line of business, project or geographical basis or in combinations thereof and subject to such
adjustments, if any, as the Compensation Committee specifies, consistent with the requirements of Section 162(m)): sales; revenues; assets; expenses; earnings before or after deduction for all or any portion of interest, taxes, depreciation,
amortization or equity expense, whether or not on a continuing operations or an aggregate or per share basis; return on equity, investment, capital, capital employed or assets; one or more operating ratios; operating income or profit, including on
an after tax basis; borrowing levels, leverage ratios or credit rating; market share; capital expenditures; cash flow; stock price; stockholder return; sales of particular products or services; same store sales; customer satisfaction; gross or net
store openings, including timing of openings and achievement of growth targets with respect thereto; new store first year sales; customer acquisition or retention; acquisitions and divestitures (in whole or in part); joint ventures and strategic
alliances; spin-offs, split-ups and the like; reorganizations; or recapitalizations, restructurings, financings (issuance of debt or equity) or refinancings. A Performance Criterion and any targets with respect thereto determined by the
Administrator need not be based upon an increase, a positive or improved result or avoidance of loss. To the extent consistent with the requirements for satisfying the performance-based compensation exception under Section 162(m), the
Administrator may provide in the case of any Award intended to qualify for such exception that one or more of the Performance Criteria applicable to such Award will be adjusted in an objectively determinable manner to reflect events (for example,
the impact of charges for restructurings, discontinued operations, mergers, acquisitions, and other unusual or infrequently occurring items, and the cumulative effects of tax or accounting changes, each as defined by U.S. generally accepted
accounting principles) occurring during the performance period that affect the applicable Performance Criterion or Criteria. 

“Plan”: The Planet Fitness, Inc. 2015 Omnibus Incentive Plan as from time to time amended and in effect. 

“Restricted Stock”: Stock subject to restrictions requiring that it be redelivered or offered for sale to the Company if
specified conditions are not satisfied. 
 “Restricted Stock Unit”: A Stock Unit that is, or as to which the
delivery of Stock or cash in lieu of Stock is, subject to the satisfaction of specified performance or other vesting conditions. 

“SAR”: A right entitling the holder upon exercise to receive an amount (payable in cash or in shares of Stock of equivalent
value) equal to the excess of the fair market value of the shares of Stock subject to the right over the base value from which appreciation under the SAR is to be measured. 

“Section 409A”: Section 409A of the Code. 

“Section 422”: Section 422 of the Code. 

“Section 162(m)”: Section 162(m) of the Code. 

“Stock”: Common stock of the Company, par value $0.0001 per share. 

  
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 “Stock Option”: An option entitling the holder to acquire shares of Stock upon
payment of the exercise price. 
 “Stock Unit”: An unfunded and unsecured promise, denominated in shares of Stock,
to deliver Stock or cash measured by the value of Stock in the future. 
 “Unrestricted Stock”: Stock not subject to
any restrictions under the terms of the Award. 

  
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