Document:

Separation Agreement, dated July 31, 2009

 Exhibit 10.32 
 EXECUTION VERSION 
 SEPARATION AGREEMENT 
 This Separation Agreement (“Agreement”), dated as of July 31, 2009, is entered into by and among Jeffrey P. Ansell
(“Ansell”), Crunch Holding Corp. (the “Company”) and Peak Holdings LLC (“Holdings”). For the purposes of this Agreement, (x) the Company, Holdings and each of their respective subsidiaries and
affiliates shall collectively mean the “Company Group” and (y) each member of the Company Group, together with its successors, subsidiaries, officers, directors and each holder, directly or indirectly (as of the date of this
Agreement), of at least ten percent (10%) of the outstanding common stock of the Company or membership interests of Holdings are collectively referred to as the “Beneficiaries.” 
 WHEREAS, the Company and Ansell entered into an Employment Agreement, dated as of April 2, 2007 (as amended, modified or supplemented from time to
time, the “Employment Agreement”) and Holdings and Ansell entered into a Management Unit Subscription Agreement, dated as of April 2, 2007 and amended on March 10, 2009 (as amended, modified or supplemented from time to
time, the “Unit Agreement”); 
 WHEREAS, Ansell’s employment as Chief Executive Officer of the Company and Holdings
(and his employment with each member of the Company Group) terminated on July 10, 2009 (the “Termination Date”); and 
 WHEREAS, Ansell, the Company and Holdings have agreed to resolve and settle all matters with respect to events, including, but in no way limited to, Ansell’s employment with the Company and/or services to Holdings, Ansell’s rights
as an equityholder of any member of the Company Group, and the termination of Ansell’s employment and/or services, in each case through the date of this Agreement; and 
 NOW, THEREFORE, in consideration of the recitals, promises, and other good and valuable consideration specified herein, the receipt and sufficiency of
which is hereby acknowledged, the parties agree as follows: 
  

	 	1.	PAYMENTS AND BENEFITS 

 1.1
Termination of Employment; Resignations. Ansell’s employment as an officer and employee of each of the Company, Holdings and each other member of the Company Group, terminated effective as of Termination Date in accordance with
Section 7(c) of the Employment Agreement. In addition, Ansell hereby resigns from the Boards of Directors or other governing body (and any committee thereof) of each of the Company, Holdings and each other member of the Company Group, effective
as of date hereof. In furtherance of the foregoing provisions, the Company, Holdings and Ansell shall execute or cause to be executed any documentation reasonably necessary to effect such resignations. 
 1.2 Accrued Benefits. The Company will pay to Ansell the amounts and/or provide the benefits set forth below: 
 (1) any unpaid Base Salary and the 15 days of unused vacation accrued for the 2009 calendar year through the Termination Date, payable within fifteen days
following the Termination Date; 

 (2) reimbursement, within 60 days (following submission by Ansell to the Company of appropriate
supporting documentation) for any unreimbursed business expenses properly incurred by Ansell in accordance with Company policy prior to the Termination Date; provided, that claims for such reimbursement (accompanied by appropriate supporting
documentation) are submitted to the Company within 90 days following the Termination Date; and 
 (3) such vested employee benefits, if any,
as to which Ansell may be entitled under the tax-qualified employee benefit plans of the Company (the amounts described in clauses (1) through (3) hereof being referred to as the “Accrued Benefits”). 
 1.3 Payments and Benefits. Subject in each case to the expiration of the Revocation Period (as defined in Section 2.2 below),
the Company will pay to Ansell the amounts and provide the benefits specified in this Section 1.3 in consideration for Ansell entering into this Agreement, specifically including the General Release (as described in Section 2 below) and
other restrictive covenants identified herein or in the Employment Agreement: 
 (1) Pro-Rated Target Bonus: $411,525 (i.e. 53.1% of
the Target Annual Bonus), payable within 30 days after the Revocation Date; 
 (2) Severance: $2,325,000, which shall be payable to
Ansell in equal installments in accordance with the Company’s normal payroll practices, as in effect on the Termination Date, over eighteen months after such date; provided, that the aggregate amount described in this clause
(2) shall be reduced by the present value of any other cash severance benefits payable to Ansell under any other severance plans, programs or arrangements of the Company or its affiliates; 
 (3) Continued Medical Coverage: Continued coverage under the Company’s group health, life and disability plans until the earlier of
(i) eighteen months from the Termination Date and (ii) the date Ansell is or becomes eligible for comparable coverage (determined, to the extent practicable, on a coverage-by-coverage and benefit-by-benefit basis) under health, life and
disability plans of another employer; and 
 (4) 2009 Bonus Opportunity: Subject to the Company’s achievement of the 2009 annual
EBITDA performance objectives above target as established by the Board, 53.1% of the incremental amount (if any) above the Target Annual Bonus (i.e. $775,000) up to the maximum Annual Bonus potential as set forth in the Employment Agreement, which
amount (if any) shall be payable at the time that bonuses are paid to other executives of the Company. 
 (5) Outplacement. The Company
shall reimburse Ansell for services of an executive outplacement agency, provided that such amount shall not exceed $25,000. 
 (6)
Professional Expenses. The Company shall reimburse Ansell’s reasonable professional fees incurred to negotiate and prepare this Agreement and any related agreements, provided that such amount shall not exceed $10,000. 

 

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 1.4 Equity. Subject to the expiration of the Revocation Period and to
Ansell’s compliance with the restrictive covenants identified herein or in the Employment Agreement: 
 (a) Class B-1
Units. In addition to the 225 Class B-1 Units that are Vested Units, notwithstanding anything to the contrary in the Unit Agreement, 84.1 Class B-1 Units shall become Vested Units (the “2009 Time B-1 Units”) on the Termination
Date (in lieu of the 30.5 Class B-1 Units that otherwise would have become Vested Units on the Termination Date pursuant to Part 2 of Schedule I of the Unit Agreement), for a total of 309.1 Class B-1 Vested Units. 
 (b) Class B-2 Units. In addition to the 225 Class B-2 Units that are Vested Units, notwithstanding anything to the contrary in the
Unit Agreement, subject to Ansell’s compliance with Section 4.2 hereof, 225 Class B-2 Units that would have (but for Ansell’s termination of employment) become eligible to vest based on achievement of the EBITDA performance objectives
for the 2009 fiscal year (the “Continuing 2009 Performance B-2 Units”) shall remain outstanding following the Termination Date and shall either (i) become Vested Units subject to the achievement of the EBITDA performance
objectives for the 2009 fiscal year, or (ii) be forfeited without consideration if such EBITDA performance objectives are not achieved. 
 (c) Forfeiture of All Unvested Units. Except as otherwise set forth above with respect to the Class B-1 Units and Class B-2 Units that previously vested, the 2009 Time B-1 Units that vest pursuant to
Section 1.4(a) and the Continuing 2009 Performance B-2 Units that may vest pursuant to Section 1.4(b), all Unvested Units as of the Termination Date shall be forfeited without consideration on such date. 
 (d) Repurchase of Class B Units. 
 (1) Holdings or one of the Beneficiaries identified by Holdings shall purchase, and Ansell (or his Permitted Transferees, if any) will sell, 154.55 Class B-1 Units and 112.5 Class B-2 Units, 267.05 Class B Units in
total and constituting one-half of the 534.1 Class B Units held by Ansell (or his Permitted Transferees, if any) that are Vested Units (giving effect to Section 1.4(a) above). If the Continuing 2009 Performance B-2 Units become Vested Units
pursuant to Section 1.4(b), then Holdings or one of the Beneficiaries identified by Holdings or one of the Beneficiaries identified by Holdings shall also purchase, and Ansell (or his Permitted Transferees, if any) will sell, 112.5 of those
Continuing 2009 Performance B-2 Units, which together with the Vested Units in the immediately preceding sentence would be a total of 379.55 repurchased Class B Units (collectively, the “Repurchased Units”). 
 (2) The purchase price of the Repurchased Units (per Unit) shall be determined in good faith by the Board (without regard to discounts for marketability
of such equity or minority status) taking into consideration Holdings’ annual independent appraiser’s report for the 2009 fiscal year that is normally obtained after fiscal year-end by Holdings for independent purposes, which Holdings and
Ansell agree shall be deemed the “Fair Market Value” under Section 4.2(d) of the Unit Agreement. The closing of Holdings’ (or Beneficiary’s) purchase of the Repurchased Units shall occur within 30 days following the date
that the independent appraiser’s 

  

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report is completed and delivered to Holdings, a copy of which shall be delivered to Ansell (or his Permitted Transferee). The purchase price of the
Repurchased Units shall be paid in a single sum in cash to Ansell (or his Permitted Transferee). Ansell (or his Permitted Transferee) shall execute such agreements and instruments as may be required to implement the repurchase of his Vested Units.

 (e) Waiver of Call Rights and Put Rights. Notwithstanding anything to the contrary in the Unit Agreement, the
Company and Ansell (including on behalf of their respective Affiliates) each hereby waive and relinquish any rights to require the purchase or sale of any Class B Units (except as described in Section 1.4(d) above and the following proviso),
including in respect of the Continuing 2009 Performance B-2 Units that may become Vested Units pursuant to Section 1.4(b) above after the date of this Agreement (it being understood that such Continuing 2009 Performance B-2 Units shall be
forfeited if they do not become Vested Units pursuant to Section 1.4(b)); provided that if during the 18-month Restricted Period under Section 8(a) of the Employment Agreement Ansell engages in Competitive Business, then the Company shall
have the right and option to purchase for a period of 210 days following the discovery by the Company’s Board of such engagement in a Competitive Business, and Ansell and each member of his Family Group shall be required to sell to the Company,
any or all of such Units then held by such member of Ansell’s Family Group at a price equal to then-Fair Market Value determined in accordance with Section 4.2(d) of the Unit Agreement. 
 (f) Repurchase of Class A Units. Notwithstanding anything to the contrary in the Unit Agreement, Ansell shall notify Holdings
in writing within 14 days of the date hereof of his election to require Holdings or one of the Beneficiaries identified by Holdings to purchase, and Ansell (or his Permitted Transferees, if any) to sell, all 1,350,000 Class A Units held by
Ansell (or his Permitted Transferees, if any), within 30 days following the date hereof for a single sum cash payment, in exchange for $1,444,500 which the parties agree shall be the Fair Market Value of such Units. If Ansell does not elect to have
his Class A Units purchased as set forth above, Holdings hereby agrees not to exercise its call right with respect to such Units. 
 (g) Any Class A Units or Class B Units retained by Ansell or Ansell’s Family Group remain subject to the terms and conditions of the LLC Agreement and the Securityholders Agreement. 
 1.5 Tax Withholding; Payments. The Company and/or Holdings may withhold from any amounts payable in cash under this Agreement or
otherwise such Federal, state and local income, employment and other taxes as may be required to be withheld in respect of any payment and/or any benefit provided for under this Agreement pursuant to any applicable law or regulation. 
 1.6 Full Satisfaction of Potential Claims. Ansell hereby acknowledges and agrees that his receipt and satisfaction of all payments
and benefits provided in this Section 1 of this Agreement will constitute full and final payment, accord and satisfaction of any and all potential claims described in the General Release (as defined in Section 2 of this Agreement and
subject to the terms and limitations in the General Release) against the Company Releasees (as defined in General Release and subject to the terms and limitations in the General Release). 
  

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 1.7 No Mitigation. Ansell shall not be required to mitigate any amount of any
payment provided pursuant this Agreement by seeking other employment, and, except as otherwise provided under Sections 1.3(3) or 4.2 of this Agreement, such payments shall not be reduced by any compensation or benefits received from any subsequent
employer or other endeavor. 
  

	 	2.	RELEASES; ANSELL REPRESENTATIONS 

 2.1 General Release. For and in consideration of the payment of the amounts and the provision of the benefits described in Section 1 of this Agreement, Ansell hereby agrees to execute and deliver a release of all claims against
each member of the Company Group as described in the form attached as Exhibit I hereto (the “General Release”). 
 2.2 Ansell’s Representations and Warranties. Ansell represents that he has read carefully and fully understands the terms of this Agreement, and that Ansell has been advised to consult with an attorney and has availed himself of
the opportunity to consult with an attorney prior to signing this Agreement. Ansell acknowledges and agrees that he is executing this Agreement willingly, voluntarily and knowingly, of his own free will, in exchange for the payments and benefits
described in Section 1 of this Agreement, and that he has not relied on any representations, promises or agreements of any kind made to him in connection with his decision to accept the terms of this Agreement, other than those set forth in
this Agreement. Ansell further acknowledges, understands, and agrees that as of the Termination Date his employment and/or service with the Company and each other member of the Company Group terminated, that the provisions of Section 1 of this
Agreement are in lieu of any and all payments and benefits to which Ansell may otherwise be entitled to receive pursuant to the Employment Agreement and the Unit Agreement. Ansell represents and warrants that there is no agreement, arrangement or
understanding (whether or not legally binding) between any member of the Company Group, on the one hand, and him or any person or legal entity with whom he is affiliated or related (including, without limitation, as an officer, director, principal,
shareholder, limited or general partner, member or family member), on the other hand (it being understood that the parties intend that any such agreement, arrangement or understanding shall be terminated under the General Release, unless expressly
provided for therein or in this Agreement, and the parties further agree from time to time to cause their related parties to enter into any documentation necessary to give effect to such intention). Ansell acknowledges that he has been advised
that he is entitled to take at least twenty-one (21) days to consider whether he wants to sign the General Release. Ansell understands that, except as otherwise expressly provided for under this Agreement, he will not receive any payments or
benefits under this Agreement (other than the Accrued Benefits) until the seven (7) day revocation period provided for under the General Release has passed, and then, only if he has not revoked the General Release (such period during which no
such revocation has occurred, the “Revocation Period”); provided, however, that if such revocation occurs, the Company, Holdings and Ansell acknowledge that the parties will retain or be restored to all rights under the Employment
Agreement and the Unit Agreement or otherwise that applied absent signing of this Agreement and the General Release.  
  

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	 	3.	EFFECTS OF SETTLEMENT; WAIVER OF JURY TRIAL 

 3.1 No Admission. Ansell and the Company, on behalf of the Beneficiaries, agree that the payments and benefits by any member of the Company Group, and the acceptance by Ansell of the same, all as provided in Section 1 of this
Agreement, and the execution of this Agreement are the result of a compromise of disputed claims, and shall never for any purpose be considered an admission of liability or responsibility by the Beneficiaries, and Holdings, the Company, on behalf of
the Beneficiaries, and each other member of the Company Group expressly denies any liability. 
 3.2 Waiver of Jury
Trial. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH OF THE PARTIES HERETO HEREBY WAIVES THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN THEM RELATING TO
THE SUBJECT MATTER OF THE TRANSACTIONS CONTEMPLATED HEREIN. Each of the parties hereto also waives any bond or surety or security upon such bond, which might, but for this waiver, be required of any of the other parties. The scope of this waiver is
intended to be all-encompassing of any and all disputes that may be filed in any court and that relate to the subject matter of this Agreement or the General Release, including, without limitation, contract claims, tort claims, breach of duty
claims, and all other common law and statutory claims. Each of the parties hereto acknowledges that this waiver is a material inducement to enter into a business relationship, that each has already relied on the waiver in entering into this
Agreement, and that each will continue to rely on the waiver in their related future dealings. Each of the parties hereto further warrants and represents that each has reviewed this waiver with his or its legal counsel and that each knowingly and
voluntarily waives his or its jury trial rights following consultation with legal counsel. This waiver is irrevocable, meaning that it may not be modified either orally or in writing, and the waiver shall apply to any subsequent amendments,
renewals, supplements or modifications to this Agreement. In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. 
  

	 	4.	CONFIDENTIALITY OF THIS AGREEMENT; RESTRICTIVE COVENANTS 

 4.1 Statements by Ansell; Statements by the Company. Ansell shall not, directly or indirectly, at any time issue or make any release or statement (whether public or private), as applicable, about the Company
Group or other Beneficiaries regarding any of the foregoing’s financial status, business, compliance with laws, ethics, members, managing members, partners, personnel, directors, officers, employees, consultants, agents, services, business
methods or otherwise, which is intended to or could disparage or otherwise harm any member of the Company Group or other Beneficiaries, or otherwise degrade any member of the Company Group or other Beneficiary’s reputation in the business,
industry or legal community in which any such Company Group member or other Beneficiary operates; provided that Ansell shall be permitted to: (a) provide truthful testimony in any legal proceeding or process and (b) defend himself
against any statement made by the Company Group that he believes is intended or reasonably likely to disparage or otherwise degrade his reputation in the business, industry or legal community in which he operates. The Company and Holdings agree that
they will not (and they will instruct their executive officers and members of the Board of Directors or other governing board of the Company or Holdings or their Subsidiaries not to) issue or make any press release or public statement, as
applicable, about Ansell which is intended to disparage Ansell, or otherwise degrade Ansell’s reputation in the business or industry in which Ansell operates; provided that such directors and other governing board members shall be
permitted to: (a) provide truthful testimony in any legal proceeding or process; (b) make any statement that is required by applicable securities or other laws to be included in a filing or disclosure document, and (c) defend itself
against any 
  

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statement made by Ansell that the Company Group believes is intended or reasonably likely to disparage any member of the Beneficiaries or the Company Group
or otherwise degrade any member of the Beneficiaries’ or Company Group’s reputation in the business, industry or legal community in which such member of the Beneficiaries or Company Group operates. 
 4.2 Continuation of Restrictive Covenants; Separate Liability. Ansell agrees and acknowledges that, except as may be expressly
otherwise agreed by the parties hereto in writing, all restrictive covenants set forth in Sections 8 and 9 of the Employment Agreement shall continue in full force and effect following the Termination Date, pursuant to their terms. Ansell further
agrees and understands that his obligations set forth in Article IV of this Agreement (and the restrictive covenants set forth in the Employment Agreement) are separate from any other provisions in this Agreement and that any breach of those
provisions (or any of the restrictive covenants contained in the Employment Agreement) may be treated by the Company Group and the Beneficiaries as a breach of this covenant for which Ansell may be separately liable, and for which the Company Group
may seek any remedies to which it is entitled as set forth in Section 10 of the Employment Agreement (which Section 10 shall continue in full force and effect following the Termination Date) or otherwise at law or in equity (and that, in
addition to any other remedy, Ansell shall forfeit all unpaid amounts and benefits payable pursuant to Sections 1.3 and 1.4 (including, without limitation, with respect to any Class B-2 Units) if Ansell breaches his obligations set forth in
Article IV of this Agreement (or the restrictive covenants set forth in Sections 8 and 9 of the Employment Agreement)). 
  

	 	5.	GOVERNING LAW; RESOLUTION OF DISPUTES 

 5.1 Governing Law. 
 This Agreement and the General Release shall each be governed and interpreted in
accordance with and enforced in all respects pursuant to the laws of the State of Delaware, irrespective of the choice of law rules of that or any other jurisdiction that direct the application of the laws of any jurisdiction other than the State of
Delaware, which is the place of domicile of the Company, Holdings and a majority of the Beneficiaries. 
 5.2 Resolution of
Disputes 
 Each party hereto agrees that following a good faith attempt to resolve such disagreement or controversy
through non-binding mediation among the parties, any disagreement or controversy arising out of or relating to this Agreement (other than pursuant to Section 4 of this Agreement, including the restrictive covenants of the Employment Agreement)
shall be exclusively resolved by way of confidential arbitration under the provisions of Section 11(o) of the Employment Agreement, which Section 11(o) shall continue in full force and effect following the Termination Date. 
  

	 	6.	TRANSITION; COOPERATION 

 Ansell agrees that he will
assist his successor or designees in assuring an orderly transition of his responsibilities and duties to the Company and its affiliates. In addition, Ansell shall provide his reasonable cooperation in connection with any action or proceeding (or
any appeal from any action or proceeding) which relates to events occurring during Ansell’s employment with the Company, provided, that, following the Termination Date, the Company shall pay all expenses 

  

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incurred by Ansell in providing such cooperation, including, without limitation, all transportation, lodging and meal expenses (in the same level of comfort
provided to Ansell for his business travel during his period of employment) and reasonable attorneys fees. 
  

	 	7.	SEVERABILITY 

 If any provision of this Agreement is
determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement or the remaining portion of a partially invalid provision, which shall remain in force, and the provision in
question shall be modified by the court so as to be rendered enforceable. 
  

	 	8.	CONSTRUCTION 

 Each party and its counsel have
reviewed this Agreement and the General Release and have been provided the opportunity to review this Agreement and the General Release and accordingly, the normal rule of construction to the effect that any ambiguities are to be resolved against
the drafting party shall not be employed in the interpretation of this Agreement or the General Release. Instead, the language of all parts of this Agreement and the General Release shall be construed as a whole, and according to their fair meaning,
and not strictly for or against either party. 
  

	 	9.	ACCEPTANCE AND EFFECTIVENESS 

 This Agreement shall become effective immediately upon Ansell’s execution of this Agreement; provided, however, that the parties’ obligations hereunder shall not become effective until the eighth (8th) day following the execution and delivery of the General Release, so long as Ansell has
not then revoked the General Release. The Revocation Period shall be deemed expired without a revocation if Ansell dies before such 8th day. If Ansell shall die at any time, all then-unpaid amounts payable to Ansell under this Agreement shall be paid to his estate
(or in the case of Section 1.4(d) and 1.4(f), to any Permitted Transferee to which Ansell may have transferred his Units) at such time or times as such amounts would have been paid to Ansell had he survived. 
  

	 	10.	INDEMNIFICATION 

 The Company shall continue to
indemnify Ansell, and cover him under directors and officers liability insurance, for his performance as an officer, director or employee of the Company or its Subsidiaries according to the terms and conditions set forth in Section 11(p) of the
Employment Agreement, which Section 11(p) shall continue in full force and effect following the Termination Date. 
  

	 	11.	APPLICATION OF SECTION 409A 

 This Agreement shall
be interpreted to avoid any penalty sanctions under section 409A of the Code. For purposes of section 409A of the Code, all payments to be made upon a termination of employment under this Agreement may only be made upon a “separation from
service” (within the meaning of such term under section 409A of the Code), each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as
a right to a series of separate payments. All reimbursements provided under this Agreement shall be made or provided in accordance with the requirements of section 409A of the Code. In no event may Ansell, directly or indirectly, designate the
calendar year of payment. 
  

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	 	12.	ENTIRE AGREEMENT; NOTICES; DEFINITIONS; COUNTERPARTS 

 12.1 Entire Agreement. This Agreement and the General Release together set forth the entire agreement between the parties hereto and fully supersede any and all prior agreements or understandings, including the
Employment Agreement and the Unit Agreement (other than as expressly set forth herein, including with respect to the Employment Agreement and the Unit Agreement to the extent described in Sections 4.2 (as modified by Section 4.2), 5.2 and 10
hereof) between the parties hereto pertaining to the subject matter hereof. For the avoidance of doubt, the terms of the LLC Agreement and the Securityholders Agreement remain in full force and effect and shall not in any manner be modified by the
terms of this Agreement. 
 12.2 Notices. For the purpose of this Agreement, notices and all other communications
provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered by hand, electronic mail, or overnight courier or three days after it has been mailed by United States registered mail, return receipt
requested, postage prepaid, addressed to the respective addresses set forth below in this Agreement, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address
shall be effective only upon receipt. 
 If to the Company, or Holdings: 
 Crunch Holding Corp. 
 One Old Bloomfield 
 Mountain Lakes, New Jersey 07046 
 Attention: General Counsel 
 with a copy which shall not constitute Notice to: 
 The Blackstone Group 
 345 Park Avenue 
 New York, New York 10154 
 Attention: Prakash Melwani 
 with a copy which shall not constitute Notice to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, New York 10017 
 Attention: Gregory T. Grogan 
 If to Ansell: To the most recent address of Ansell’s set forth in the personnel records of the Company. 
 with a copy which shall not constitute Notice to: 
 Vedder Price P.C. 
 222 North LaSalle Street 
 Suite 2600 
 Chicago, Illinois 60601 
 Attention: Robert F. Simon 
  

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 12.3 Definitions. Terms not otherwise defined herein shall have the meaning
ascribed to them in the Employment Agreement or the Unit Agreement. 
 12.4 Counterparts. This Agreement may be
executed in one or more counterparts and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. 

[Signatures on next page.] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Separation Agreement effective as of the date
first above written. 
  

			
	PEAK HOLDINGS LLC
		
	By:	 	/s/ M. KELLEY MAGGS
	Title:	 	Senior Vice President

  
  

			
	CRUNCH HOLDING CORP.
		
	By:	 	/s/ M. KELLEY MAGGS
	Title:	 	Senior Vice President

  

	
	JEFFREY P. ANSELL
	
	/s/ JEFFREY P. ANSELL
	

 Exhibit I 
 GENERAL RELEASE 
 Section 1. Release. For and in consideration of the payment of the amounts and
the provision of the benefits described in Section 1 of that certain Separation Agreement dated as of July 31, 2009 by and between Jeffrey P. Ansell (“Ansell”), Crunch Holding Corp. (the “Company”) and
Peak Holdings LLC (the “Holdings”) (the “Separation Agreement”), Ansell hereby agrees on behalf of himself, his agents, assignees, attorneys, successors, assigns, heirs and executors, to, and Ansell does hereby,
fully and completely forever release each member of the Company Group and the Beneficiaries (as such terms are defined in the Separation Agreement) and their respective past, current and future affiliates, predecessors and successors and all of
their respective past and/or present officers, directors, partners, members, managing members, managers, employees, agents, representatives, administrators, attorneys, insurers and fiduciaries, in their individual and/or representative capacities
(hereinafter collectively referred to as the “Company Releasees”), from any and all causes of action, suits, agreements, promises, damages, disputes, controversies, differences, judgments, claims, debts, dues, sums of money,
accounts, covenants, contracts, and demands of any kind whatsoever, which Ansell or his agents, assignees, attorneys, successors, assigns, heirs and executors ever had, now have or may have against Company Releasees or any of them, in law, or
equity, whether known or unknown to Ansell, for, upon, or by reason of, any matter, action, omission, course or thing whatsoever occurring up to the date this General Release is signed by Ansell, including, without limitation, in connection with or
in relationship to Ansell’s employment or other service relationship with the Company, the termination of any such employment or service relationship and any applicable employment, compensatory or equity arrangement with the Company and/or
Holdings (including, without limitation, the Employment Agreement and the Unit Agreement (as each such term is defined in the Separation Agreement), any exhibits attached thereto, any amendments thereto, and any equity or employee benefit plans,
programs, policies or other arrangements), any claims of breach of contract, wrongful termination, retaliation, fraud, defamation, infliction of emotional distress or national origin, race, age, sex, sexual orientation, disability, medical condition
or other discrimination or harassment, (such released claims are collectively referred to herein as the “Released Claims”); provided that such Released Claims shall not include any claims by Ansell (or his Permitted Transferee or
heirs or personal representatives of his estate, as may apply) to enforce Ansell’s rights or the Company’s or Holdings’s obligations under, or with respect to, the Separation Agreement (“Ansell’s Retained
Rights”). 
 Section 2. Waiver. Notwithstanding the generality of Section 1 above, other than Ansell’s
Retained Rights, the Released Claims include, without limitation: (i) any and all claims relating to base salary or bonus payments or benefits pursuant to the Employment Agreement and the Unit Agreement, other than those payments and benefits
specifically provided for in Section 1 the Separation Agreement; (ii) any and all claims under federal, state and local statutory, common and administrative law with respect to matters arising from or derivative of Ansell’s employment
with the Company, his separation from employment with the Company, or otherwise, including, but not limited to, Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. § 2000e, et seq. (“Title VII”), the
Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1001 et seq., (“ERISA”), the Fair Labor Standards Act, as amended, 29 U.S.C. § 201 et seq. (“FLSA”), the Americans
with Disabilities Act of 1990, as amended, 29 U.S.C. § 12101 et seq. (“ADA”), the Rehabilitation Act of 1973, as amended, 29 

 
U.S.C. § 701 et seq., the Equal Pay Act, as amended, 29 U.S.C. § 206(d), the Sarbanes-Oxley Act of 2002, 18 U.S.C. § 1514A et
seq. (“SOX”), the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. § 621 et seq. (“ADEA”), the Family and Medical Leave Act of 1992, 29 U.S.C. § 2601 et seq.
(“FMLA”), § 201-d, and the Reconstruction Era Civil Rights Act, as amended, 42 U.S.C. § 1981 et seq.; General Laws of the State of Delaware; and any and all other federal, state or local laws, statutes, rules and
regulations pertaining to employment or otherwise; and (iii) any claims for wrongful discharge, breach of contract, fraud, misrepresentation or any compensation claims, or any other claims under any statute, rule or regulation or under the
common law, including compensatory damages, punitive damages, attorney’s fees, costs, expenses and all claims for any other type of damage or relief; provided, however, that nothing in this General Release is intended to or does prevent Ansell
from filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission or a state Fair Employment Practices Agency (except that he acknowledges that he may not be able to recover any monetary benefits in
connection with any such claim, charge, or proceeding) and provided further that Ansell’s waiver of claims relating to or arising under ERISA, or with respect to the Company’s employee benefit plans, programs, policies, or other
arrangements shall not be construed as a waiver of his right to receive his benefits under such plans, programs, policies, or other arrangements, if any, in accordance with the terms and provisions of such plan, or as a waiver of his right to
reimbursement for covered expenses under and in accordance with the terms and provisions of the foregoing, to the extent such covered expenses were incurred during a period in which Ansell was eligible to participate and in fact was participating in
such plans. 
 THIS MEANS THAT, EXCEPT AS PROVIDED ABOVE, BY SIGNING THIS GENERAL RELEASE, ANSELL WILL HAVE WAIVED ANY RIGHT ANSELL MAY HAVE HAD TO BRING
A LAWSUIT OR MAKE ANY CLAIM AGAINST COMPANY RELEASEES BASED ON ANY ACTS OR OMISSIONS OF COMPANY RELEASEES UP TO THE DATE OF THE SIGNING OF THIS AGREEMENT. 
 Section 3. Waiver of Equity Rights. Except as otherwise set forth in Section 1 of the Separation Agreement, in consideration of the payments and benefits provided for elsewhere in Section 1 of
the Separation Agreement, and for other good and valuable consideration, Ansell hereby forever waives, releases and fully relinquishes any right or title to any and all equity, whether granted to Ansell as of the Termination Date or not, in any
member of the Company Group. 
 Section 4. Ansell’s Representations and Warranties. Ansell represents that he has read
carefully and fully understands the terms of this General Release, and that Ansell has been advised to consult with an attorney and has availed himself of the opportunity to consult with an attorney prior to signing this General Release. Ansell
acknowledges and agrees that he is executing this General Release willingly, voluntarily and knowingly, of his own free will, in exchange for the payments and benefits described in Section 1 of the Separation Agreement, and that he has not
relied on any representations, promises or agreements of any kind made to him in connection with his decision to accept the terms of the Separation Agreement or the General Release, other than those set forth in the Separation Agreement. Ansell
further acknowledges, understands, and agrees that his employment and/or service with the Company and each other member of the Company Group has terminated, that the provisions of Section 1 of the Separation Agreement are in lieu of any and all
payments and benefits to which Ansell may otherwise be entitled to receive pursuant to the Employment Agreement and the Unit Agreement. Ansell 

 
represents and warrants that there is no agreement, arrangement or understanding (whether or not legally binding) between any member of the Company Group, on
the one hand, and him or any person or legal entity with whom he is affiliated or related (including as an officer, director, principal, shareholder, limited or general partner, member or family member), on the other hand (it being understood that
any such agreement, arrangement or understanding shall be terminated under this General Release, unless expressly provided for herein or in the Separation Agreement). Ansell acknowledges that he has been advised that he is entitled to take at
least twenty-one (21) days to consider whether he wants to sign this General Release and that the ADEA gives him the right to revoke this General Release within seven (7) days after it is signed, and Ansell understands that he will not
receive any payments under the Separation Agreement (other than the Accrued Benefits (as defined in the Separation Agreement)) until such seven (7) day revocation period has passed and then, only if he has not revoked this General Release. To
the extent Ansell has executed this General Release within less than twenty-one (21) days after its delivery to him, Ansell hereby acknowledges that his decision to execute this General Release prior to the expiration of such twenty-one
(21) day period was entirely voluntary, and taken after consultation with and upon the advice of his attorney. 
 Ansell fully
understands that this General Release is a legally binding document and that by signing this General Release Ansell is prevented from filing, commencing or maintaining any action against any of the Company Releasees, other than to enforce his rights
under the Separation Agreement as well as his rights as set forth in Section 2 above of this General Release. 
 This General Release is
final and binding and may not be changed or modified, except by written agreement by both of the Company and Ansell. 
  

					
			
	 Dated: July 31, 2009
	 		 	/s/ JEFFREY P. ANSELL
		 		 	JEFFREY P. ANSELLEmployment Agreement, dated July 13, 2009

 Exhibit 10.33 
 Execution Version 
 EMPLOYMENT AGREEMENT 
 (Robert Gamgort; Chief Executive Officer) 
 EMPLOYMENT AGREEMENT (the “Agreement”) dated as of July 13, 2009 by and between Crunch Holding Corp. (the “Company”) and Robert Gamgort (the “Executive”).

 The Company and its Subsidiaries and the Company’s parent, Peak Holdings LLC (the “Partnership”) desire to employ
Executive and to enter into an agreement embodying the terms of such employment; 
 Executive desires to accept such employment and enter
into such an agreement; 
 In consideration of the premises and mutual covenants herein and for other good and valuable consideration, the
parties agree as follows: 
 1. Term of Employment. Subject to the provisions of Section 7 of this Agreement, Executive shall be
employed by the Company and certain of its affiliates for a period commencing on the date of this Agreement and ending on July 13, 2014 (the “Employment Term”) on the terms and subject to the conditions set forth in this
Agreement; provided, however, that commencing with July 13, 2014 and on each July 13 thereafter (each an “Extension Date”), the Employment Term shall be automatically extended for an additional one-year period,
unless the Company or Executive provides the other party hereto 60 days prior Notice before the next Extension Date that the Employment Term shall not be so extended. 
 2. Position. 
 (a) During the Employment Term, Executive shall serve as the Company’s and the
Partnership’s Chief Executive Officer. In such position, Executive shall report directly to the Management Committee of the Partnership (the “Board”) and have such duties and authority as shall be determined from time to time
by the Board consistent with such title, duties and responsibilities including reporting responsibilities. Executive shall also serve as a member of the Board without additional compensation. 
 (b) During the Employment Term, Executive will devote Executive’s full business time and best efforts to the performance of Executive’s duties
hereunder and will not engage in any other business, profession or occupation for compensation or otherwise which would conflict or interfere with the rendition of such services either directly or indirectly, without the prior written consent of the
Board; provided that nothing herein shall preclude Executive, (i) from engaging in charitable and civic activities, including accepting appointment to or continuing to serve on any board of directors or trustees of any charitable
organization or (ii) subject to the prior approval of the Board, from accepting appointment to or continuing to serve on any board of directors or trustees of any business corporation; provided in each case, and in the aggregate, that
such activities do not conflict or interfere with the performance of Executive’s duties hereunder or conflict with Section 8. 
  

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 3. Base Salary. During the Employment Term, the Company shall pay Executive a base salary at the
annual rate of $850,000, payable in regular installments in accordance with the Company’s usual payment practices. Executive shall be entitled to such increases in Executive’s base salary, if any, as may be determined in the sole
discretion of the Board at least annually. Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as the “Base Salary.” 
 4. Performance Awards. 
 (a) Annual Bonus. With respect to each full fiscal year during the
Employment Term, Executive shall be eligible to earn an annual bonus award (an “Annual Bonus”) in such amount, if any, as may be determined in the sole discretion of the Board, of 100 percent (100%) of Executive’s Base
Salary (the “Target Annual Bonus”), and of 200 percent (200%) of Executive’s Base Salary at maximum, based upon the achievement of annual EBITDA target or maximum performance objectives, as the case may be, established by
the Board within the first three months of each fiscal year during the Employment Term (provided, the methodology for determining such performance objectives from time to time shall be established in consultation with Executive, and the
achievement of such performance objectives shall be verified by the Board by reference to the audited financial statements of the Company). For the 2009 fiscal year, Executive shall be paid a pro-rated portion of the Target Annual Bonus based upon
that portion of the fiscal year Executive was employed by the Company unless Executive’s employment hereunder is terminated by the Company for Cause or as a result of Executive’s resignation other than as result of a Constructive
Termination, in either case prior to the date such Annual Bonus is paid to Executive. The Annual Bonus, if any, shall be paid to Executive within two and one-half (2.5) months after the end of the applicable fiscal year; provided that if
the audited financial statements of the Company shall not have been completed by such date, the Annual Bonus shall instead be payable within 30 days of such completion and no later than December 31 of the applicable year. During the Employment
Term, Executive hereby agrees to reinvest fifty percent (50%) of the aggregate after-tax proceeds of any Annual Bonus paid to Executive (commencing with the 2009 Annual Bonus) in Class A-2 Units of the Partnership (the “Class A-2
Units”), on terms that are substantially consistent with the terms of the Management Unit Subscription Agreement entered into between the Partnership and Executive in connection with this Agreement, within 30 days of the payment of such
Annual Bonus. The purchase price for each Class A-2 Unit shall be its Fair Market Value (as defined in the Securityholders Agreement dated as of April 2, 2007 among the Partnership and the other parties thereto (including Executive) (the
“Securityholders Agreement”)) at the time of the purchase. 
 (b) Deferred Cash Incentive Award. 
 (i) Eligibility; Amount; Grant Date. With respect to each full fiscal year during the Employment Term beginning with the
2010 fiscal year, Executive shall be awarded a deferred cash incentive award (a “Deferred Award”) in an amount equal to $1,000,000, with the grant of the Deferred Award contingent on satisfaction of specified performance objectives
(the “Performance Objectives”) established by the Board within the first three full calendar months of each such fiscal year (provided, the methodology for determining such Performance Objectives from time to time shall be
established in consultation with Executive). The achievement of such Performance Objectives shall be verified by the Board by reference to the audited financial 

  

 2 

 
statements of the Company within 30 days following completion of such audit. The grant date (the “Grant Date”) of any Deferred Award shall
be the verification date by the Board that the relevant Performance Objectives are deemed to have been achieved by reference to the audited financial statements of the Company. 
 (ii) Pro-Rata Award upon Termination without Cause, Resignation for Constructive Termination. If Executive’s employment
with the Company is terminated without Cause or Executive resigns as a result of a Constructive Termination (when grounds for Cause do not exist hereunder) during any fiscal year of the Employment Term, Executive shall be eligible to receive a
pro-rated portion of the Deferred Award for such year based upon that portion of the fiscal year Executive was employed by the Company and contingent upon satisfaction of the Performance Objectives, measured as of the end of the relevant fiscal
year. 
 (iii) Pro-Rata Award for 2009 Fiscal Year. For the 2009 fiscal year, Executive shall receive a
pro-rated portion of a Deferred Award (without regard to the Performance Objectives) based upon that portion of the fiscal year Executive was employed by the Company, with a Grant Date of January 2, 2010. For the avoidance of doubt, no Deferred
Award shall otherwise be granted to Executive unless Executive is employed by the Company on the Grant Date. 
 (iv)
Payment of Deferred Award; Forfeitures. Each Deferred Award shall provide for the payment of the amount of such Deferred Award on the third anniversary of its Grant Date; provided, however, that 
 (A) Executive shall forfeit 100% of any unpaid Deferred Award if (x) Executive’s employment is terminated by the Company for
Cause (or Executive resigns at a time when grounds for Cause exist hereunder) at any time, (y) Executive resigns other than as a result of a Constructive Termination before the first anniversary of the grant of such Deferred Award or
(z) Executive breaches any of the covenants set forth in Sections 8 or 9; 
 (B) Executive shall forfeit 66 2/3% of any
unpaid Deferred Award if Executive resigns other than as a result of a Constructive Termination on or after the first anniversary of the Grant Date of such Deferred Award, but before the second anniversary of the Grant Date of such Deferred Award;
and 
 (C) Executive shall forfeit 33 1/3% of any unpaid Deferred Award if Executive resigns other than as a result of a
Constructive Termination on or after the second anniversary of the Grant Date of such Deferred Award, but before the third anniversary of the Grant Date of such Deferred Award. 
 (v) Early Payment upon Change of Control, Death, Disability. Notwithstanding anything herein to the contrary, in the event
of (x) a Change of Control (as defined in the Securityholders Agreement) that occurs during the Employment Term or (y) a termination of Executive’s employment hereunder for either death or Disability (as defined in Section 7(b)),
any unpaid Deferred Award shall be paid to Executive or Executive’s estate (as the case may be) within 30 days following such event, provided that for subclause (x) such Change of Control would also be a change in control under
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 
  

 3 

 (c) Transaction Incentive Award. In the event of a Qualified Public Offering (as defined in the
Securityholders Agreement) or a Change of Control that occurs during the Employment Term (either event, a “Transaction”), Executive shall be eligible to receive a cash or equity transaction incentive award (the “Transaction
Incentive Award”), with the grant of the Transaction Incentive Award contingent on the valuation of the Class A-1 Units (as defined in the Securityholders Agreement) held by Blackstone (as defined in the Securityholders Agreement) as
of the date of such Transaction being equal, at the time of the Transaction, to at least 1.0 times Blackstone’s cumulative invested capital in respect of such Class A-1 Units. The value of the Transaction Incentive Award shall be $3,000,000 or,
if the valuation of the Class A-1 Units held by Blackstone as of the date of such Transaction is, at the time of the Transaction, at least 2.0 times Blackstone’s cumulative invested capital in respect of such Class A-1 Units, $4,000,000.
In the case of a Change of Control, the Transaction Incentive Award shall be payable in cash on the first anniversary of the Change of Control and in the case of a Qualified Public Offering, the Transaction Incentive Award shall be payable in shares
of the Company (or its affiliate that is subject to the Qualified Public Offering, as applicable) on the first anniversary of the Qualified Public Offering, using the per-share price at which such shares were sold by the underwriters in the
Qualified Public Offering; provided, however, that Executive shall forfeit 100% of any unpaid or undelivered Transaction Incentive Award if (x) Executive’s employment is terminated by the Company for Cause (or Executive resigns at a
time when grounds for Cause exist hereunder) at any time, (y) Executive resigns other than as a result of a Constructive Termination or (z) Executive breaches any of the covenants set forth in Sections 8 or 9. In the event of
(i) Executive’s termination of employment by the Company without Cause, (ii) Executive’s resignation as a result of a Constructive Termination (in each case for sub-clauses (i) and (ii), when grounds for Cause do not exist
hereunder) or (iii) termination of Executive’s employment hereunder for either death or Disability, and a Qualified Public Offering is priced or Change of Control is consummated within three months following any such event, Executive or
Executive’s estate (as the case may be) shall be eligible to receive the Transaction Incentive Award on the terms set forth above. 
 5.
Employee Benefits. During the Employment Term, Executive shall be entitled to participate in the Company’s employee benefit plans (other than annual bonus and incentive plans) as in effect from time to time (collectively
“Employee Benefits”), on the same basis as those benefits are generally made available to other senior executives of the Company. Executive shall be entitled to 4 weeks’ vacation per fiscal year. 
 6. Business Expenses. During the Employment Term, reasonable business expenses incurred by Executive in the performance of Executive’s duties
hereunder shall be advanced or promptly reimbursed by the Company in accordance with Company policies. 
 7. Termination. The
Employment Term and Executive’s employment hereunder may be terminated by the Company at any time and for any reason upon Notice to Executive and by Executive upon at least 30 days’ advance Notice of any such resignation of
Executive’s employment; provided, that in the event that the Company terminates Executive’s employment without Cause (as defined in Section 7(a)(ii)) after Executive has given advance Notice of his 

  

 4 

 
resignation but before the end of the notice period, Executive shall receive full payment of Base Salary, any Annual Bonus, and benefits as an active
employee for the unexpired portion of such notice period. Notwithstanding any other provision of this Agreement, the provisions of this Section 7 shall exclusively govern Executive’s rights to payment of compensation, severance, employee
benefits and Executive’s business expenses upon termination of employment with the Company and its affiliates. 
 (a) By the Company
For Cause or By Executive Other Than as a Result of a Constructive Termination. 
 (i) The Employment Term and
Executive’s employment hereunder may be terminated by the Company for Cause and shall terminate automatically upon the effective date of Executive’s resignation other than as result of a Constructive Termination (as defined in
Section 7(c)(ii)). 
 (ii) For purposes of this Agreement, “Cause” shall mean (A) Executive’s
continued willful failure substantially to perform Executive’s material duties under Executive’s employment (other than as a result of total or partial incapacity due to physical or mental illness) following Notice by the Company to
Executive of such failure and 30 days within which to cure; (B) theft or embezzlement of Company property; (C) any act on the part of Executive that constitutes a felony under the laws of the United States or any state thereof
(provided, that if a Executive is terminated for any action described in this clause (C) and Executive is never indicted in respect of such action, then the burden of establishing that such action occurred shall be on the Company in
respect of any proceeding related thereto between the parties and the standard of proof shall be clear and convincing evidence (and if the Company fails to meet such standard, the Company shall reimburse Executive for his reasonable legal fees in
connection with such proceeding)); (D) Executive’s willful material misconduct in connection with Executive’s duties to the Company or any act or omission which is materially injurious to the financial condition or business reputation
of the Company or any of its subsidiaries or affiliates, or (E) Executive’s breach of the provisions of Section 8. No act shall be “willful” if conducted in good faith with a reasonable belief that such conduct was in the
best interests of the Company. 
 (iii) If Executive’s employment is terminated by the Company for Cause, or if Executive
resigns other than as a result of a Constructive Termination, Executive shall be entitled to receive: 
 (A) the Base Salary
and unused vacation accrued through the date of termination, payable within fifteen days following the date of such termination; 
 (B) any Annual Bonus earned, but unpaid, as of the date of termination for the immediately preceding fiscal year, paid in accordance with Section 4 (except to the extent payment is otherwise deferred pursuant to any applicable deferred
compensation arrangement with the Company, in which case such amount shall be paid in full at the earliest such time as is provided under such arrangement); 
  

 5 

 (C) reimbursement, within 60 days following submission by Executive to the Company of
appropriate supporting documentation) for any unreimbursed business expenses properly incurred by Executive in accordance with Company policy prior to the date of Executive’s termination; provided, that claims for such reimbursement
(accompanied by appropriate supporting documentation) are submitted to the Company within 90 days following the date of Executive’s termination of employment; and 
 (D) such Employee Benefits, if any, as to which Executive may be entitled under the employee benefit plans of the Company (the amounts
described in clauses (A) through (D) hereof being referred to as the “Accrued Rights”). 
 Following such
termination of Executive’s employment by the Company for Cause or resignation by Executive other than as a result of a Constructive Termination, except as set forth in this Section 7(a)(iii), Executive shall have no further rights to any
compensation or any other benefits under this Agreement. 
 (b) Disability or Death. 
 (i) The Employment Term and Executive’s employment hereunder shall terminate upon Executive’s death and may be terminated by the
Company if Executive becomes physically or mentally incapacitated, after providing Executive reasonable accommodation, and is therefore unable, for a period of nine consecutive months or for an aggregate of twelve months in any eighteen consecutive
month period, to perform Executive’s duties. The period of nine months shall be deemed continuous unless Executive returns to work for a period of at least 30 consecutive days during such period and performs during such period at the level and
competence that existed prior to the beginning of the nine-month period. Such incapacity is hereinafter referred to as “Disability”. Any question as to the existence of the Disability of Executive as to which Executive and the Company
cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company. If Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician
and those two physicians shall select a third qualified independent physician which third such physician shall make such determination. The determination of Disability made by such physician in writing to the Company and Executive shall be final and
conclusive for all purposes of the Agreement and any other agreement between any Company and Executive that incorporates the definition of “Disability”. 
 (ii) Upon termination of Executive’s employment hereunder for either Disability or death, Executive or Executive’s estate (as
the case may be) shall be entitled to receive the Accrued Rights and continue to be eligible to receive applicable payments under Sections 4(b) or 4(c) on the terms and conditions described therein. 
  

 6 

 Following Executive’s termination of employment due to death or Disability, except as set forth in
this Section 7(b)(ii), Executive shall have no further rights to any compensation or any other benefits under this Agreement. 
 (c)
By the Company Without Cause or Resignation by Executive as a result of Constructive Termination. 
 (i) The Employment
Term and Executive’s employment hereunder may be terminated by the Company without Cause or by Executive as a result of a Constructive Termination. 
 (ii) For purposes of this Agreement, a “Constructive Termination” shall be deemed to have occurred upon
(A) the failure of the Company to pay or cause to be paid Executive’s base salary or annual bonus (if any) when due; (B) a reduction in Executive’s base salary or target bonus opportunity percentage of base salary (excluding any
change in value of equity incentives or a reduction in base salary affecting substantially all similarly situated executives by the same percentage of base salary); (C) any substantial and sustained diminution in Executive’s title, duties,
authority or responsibilities (including reporting responsibilities); (D) a relocation of Executive’s primary work location more than 50 miles without Executive’s prior written consent; (E) the failure to assign Executive’s
employment agreement to a successor, and the failure of such successor to assume such employment agreement, in any Public Offering or Change of Control; (F) a Company Notice to Executive of the Company’s election not to extend the
Employment Term; or (G) a failure to elect or reelect or the removal as a member of the Board; provided, that none of these events shall constitute Constructive Termination unless the Company fails to cure such event within 30 days after
Notice is given by Executive specifying in reasonable detail the event which constitutes Constructive Termination; provided, further, that “Constructive Termination” shall cease to exist for an event on the 60th day following the later of its occurrence or Executive’s knowledge thereof, unless
Executive has given the Company Notice thereof prior to such date. 
 (iii) If Executive’s employment is terminated by
the Company without Cause (other than by reason of death or Disability) or if Executive resigns as a result of a Constructive Termination, Executive shall be entitled to receive: 
 (A) the Accrued Rights; 
 (B) a pro rata portion of a Target Annual Bonus, payable within 30 days after Executive has entered into a release of claims set forth below, based upon the percentage of the fiscal year that shall have elapsed
through the date of Executive’s termination of employment; 
 (C) subject to Executive’s continued compliance with
the provisions of Sections 8 and 9, payment of an amount equal to (x) one and one-half multiplied by (y) the sum of the annual Base Salary amount plus Executive’s Target Annual Bonus amount, which shall be payable to Executive in
equal installments in accordance with the Company’s normal payroll practices, as in effect on the date 

  

 7 

 
of termination of Executive’s employment, for eighteen months after the date of such termination; provided, that the aggregate amount described
in this clause (C) shall be reduced by the present value of any other cash severance benefits payable to Executive under any other severance plans, programs or arrangements of the Company or its affiliates; 
 (D) applicable payments under Sections 4(b) or 4(c) on the terms and conditions described therein; and 
 (E) continued coverage under the Company’s group health, life and disability plans until the earlier of (i) eighteen months from
Executive’s date of termination of employment with the Company and (ii) the date such Executive is or becomes eligible for comparable coverage (determined, to the extent practicable, on a coverage-by-coverage and benefit-by-benefit basis)
under health, life and disability plans of another employer. 
 Amounts payable to Executive under subparagraphs (B), (C) and (D), above,
are subject to Executive providing a release of all claims to the Company in the form attached hereto as Exhibit A. Following Executive’s termination of employment by the Company without Cause (other than by reason of Executive’s death or
Disability) or by Executive’s resignation as a result of a Constructive Termination, except as set forth in this Section 7(c)(iii), Executive shall have no further rights to any compensation or any other benefits under this Agreement.

 (d) Expiration of Employment Term. 
 (i) Election Not to Extend the Employment Term. In the event either party elects not to extend the Employment Term pursuant to Section 1, unless Executive’s employment is terminated pursuant to
paragraphs (a), (b) or (c) of this Section 7 (including, without limitation, due to a Constructive Termination pursuant to clause (F) under Section 7(c)(ii) hereof), Executive’s termination of employment hereunder
(whether or not Executive continues as an employee of the Company thereafter) shall be deemed to occur on the close of business on the day immediately preceding the next scheduled Extension Date and Executive shall be entitled to receive the Accrued
Rights. Following such termination of Executive’s employment hereunder as a result of either party’s election not to extend the Employment Term, except as set forth in this Section 7(d)(i) and subject to the provisions of paragraphs
(a), (b) or (c) of this Section 7 as may apply, Executive shall have no further rights to any compensation or any other benefits under this Agreement. 
 (ii) Continued Employment Beyond the Expiration of the Employment Term. Unless the parties otherwise agree in writing, continuation
of Executive’s employment with the Company beyond the expiration of the Employment Term shall be deemed an employment at-will and shall not be deemed to extend any of the provisions of this Agreement and Executive’s employment may
thereafter be terminated at will by either Executive or the Company; provided, that the provisions of Sections 8, 9 and 10 of this Agreement, and any accrued and vested rights of Executive as of the last day of the Employment Term, shall
survive any termination of this Agreement or Executive’s termination of employment hereunder. 
  

 8 

 (e) Notice of Termination. Any purported termination of employment by the Company or by Executive
(other than due to Executive’s death) shall be communicated by Notice of Termination to the other party hereto in accordance with Section 11(i) hereof. For purposes of this Agreement, a “Notice of Termination” shall mean a Notice
which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision so indicated.

 (f) Board/Committee Resignation. Upon termination of Executive’s employment for any reason, Executive agrees to resign, as of
the date of such termination and to the extent applicable, from the Board (and any committees thereof) and the Board of Directors (and any committees thereof) of any of the Company’s affiliates. 
 8. Non-Competition. 
 (a) Executive
acknowledges and recognizes the highly competitive nature of the businesses of the Company and its affiliates and accordingly agrees as follows: 
 (i) During the Employment Term and, for a period of eighteen months following the date Executive ceases to be employed by the Company (the “Restricted Period”), Executive will not, whether on
Executive’s own behalf or on behalf of or in conjunction with any person, firm, partnership, joint venture, association, corporation or other business organization, entity or enterprise whatsoever (“Person”), directly or
indirectly solicit or assist in soliciting in a Competitive Business (as defined below), the business of any client or prospective client: 
 (A) with whom Executive had personal contact or dealings on behalf of the Company during the one-year period preceding Executive’s termination of employment; 
 (B) with whom employees directly reporting to Executive (or such employee’s direct reports) have had personal contact or dealings on
behalf of the Company during the one year immediately preceding Executive’s termination of employment; or 
 (C) for whom
Executive had direct or indirect responsibility during the one year immediately preceding Executive’s termination of employment. 
 (ii) During the Restricted Period, Executive will not directly or indirectly: 
 (A) engage in
any business that is engaged in, or has plans to engage in, at any time during the Restricted Period, any activity that competes in the business of manufacturing and marketing food products that directly compete with the Core Brands (as defined
below) of the Company as of the Termination Date (provided that such activity that competes in the business of manufacturing 

  

 9 

 
and marketing food products that directly compete with the Core Brands comprises at least 10% of the business’s annual net revenues, in the fiscal year
preceding the fiscal year of such Termination Date) in any geographical area that is within 100 miles of any geographical area where the Company or its affiliates manufactures and markets its products or services (a “Competitive
Business”); 
 (B) enter the employ of, or render any services to, any Person (or any division or controlled or
controlling affiliate of any Person) who or which engages in a Competitive Business; 
 (C) acquire a financial interest in,
or otherwise become actively involved with, any Competitive Business, directly or indirectly, as an individual, partner, shareholder, officer, director, principal, agent, trustee or consultant; or 
 (D) interfere with, or attempt to interfere with, business relationships (whether formed before, on or after the date of this Agreement)
between the Company or any of its affiliates and customers, clients, suppliers partners, members or investors of the Company or its affiliates. 
 (iii) Notwithstanding anything herein to the contrary, a Competitive Business shall also mean any of the following companies: General Mills, Heinz, Sara Lee, Nestlé, Kellogg’s, Mt. Olive, or Gorton’s.
In addition, for the purposes of this Agreement, a “Core Brand” shall be any brand generating annual net revenues in an amount equal to at least 5% of the Company’s consolidated annual revenues, in the fiscal year preceding the
fiscal year of a Termination Date (pro forma giving effect to any acquisitions or dispositions by the Company). 
 (iv)
Notwithstanding anything to the contrary in this Agreement, Executive may, directly or indirectly own, solely as an investment, securities of any Person engaged in a Competitive Business which are publicly traded on a national or regional stock
exchange or on the over-the-counter market if Executive (x) is not a controlling person of, or a member of a group which controls, such person and (y) does not, directly or indirectly, own 5% or more of any class of securities of such
Person. 
 (v) During the Restricted Period, Executive will not, whether on Executive’s own behalf or on behalf of or in
conjunction with any Person, directly or indirectly (with Executive’s knowledge): 
 (A) solicit or encourage any
employee of the Company or its affiliates to leave the employment of the Company or its affiliates; or 
 (B) hire any such
employee who was employed by the Company or its affiliates as of the date of Executive’s termination of employment with the Company or who left the employment of the Company or its affiliates coincident with, or within 120 days (one year in the
case of any such employee who reported directly to Executive (or such employee’s direct reports) immediately preceding Executive’s termination of employment) prior to or after, the termination of Executive’s employment with the
Company. 
  

 10 

 Any solicitation or hiring, that Executive is not personally involved in, of an employee or former
employee of the Company through general advertising shall not, of itself, be a breach of this Section 8(a)(iv). 
 (vi)
During the Restricted Period, Executive will not, directly or indirectly, solicit or encourage to cease to work with the Company or its affiliates any consultant then under contract with the Company or its affiliates, if such action would result in
the Company being disadvantaged in any material respect by such solicitation. 
 (b) It is expressly understood and agreed that although
Executive and the Company consider the restrictions contained in this Section 8 to be reasonable, if a final judicial determination is made by a court of competent jurisdiction, or arbitrator pursuant to Section 11(o), that the time or
territory or any other restriction contained in this Agreement is an unenforceable restriction against Executive, the provisions of this Agreement shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory
and to such maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Agreement is unenforceable, and such restriction
cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein. 
 (c) The period of time during which the provisions of this Section 8 shall be in effect shall be extended by the length of time during which Executive is in breach of the terms hereof as determined by any court of competent
jurisdiction on the Company’s application for injunctive relief. 
 (d) Notwithstanding anything in this Section 8 to the contrary,
Executive may request a waiver from the Company with regard to any restrictions contained in this Section by providing written notice of any such request to the Company’s Chief Legal Officer or General Counsel. Upon receipt of any such written
notice, the Company’s Chief Legal Officer or General Counsel shall confer with the Board regarding such request and make reasonable efforts to respond to Executive within 15 days of receipt of such notice whether the Board (in its sole
determination) shall agree to waive any of the restrictions contained in this Section 8. 
 9. Confidentiality; Intellectual
Property. 
 (a) Confidentiality. 
 (i) Executive will not at any time (whether during or after Executive’s employment with the Company) (x) retain or use for the benefit, purposes or account of Executive or any other person; or
(y) disclose, divulge, reveal, communicate, share, transfer or provide access to any person outside the Company (other than its professional advisers who are bound by confidentiality obligations), any non-public, proprietary or confidential
information — including without limitation trade secrets, know-how, research and development, software, databases, inventions, processes, formulae, technology, designs and other intellectual property, information concerning finances,
investments, profits, pricing, costs, products, services, vendors, customers, clients, partners, investors, personnel, compensation, recruiting, training, advertising, 

  

 11 

 
sales, marketing, promotions, government and regulatory activities and approvals — concerning the past, current or future business, activities and
operations of the Company, its subsidiaries or affiliates and/or any third party that has disclosed or provided any of same to the Company on a confidential basis (“Confidential Information”) without the prior written authorization
of the Board except as may be required for Executive to discharge his employment duties to the Company. 
 (ii)
“Confidential Information” shall not include any information that is (a) generally known to the industry or the public other than as a result of Executive’s breach of this covenant or any breach of other confidentiality
obligations by third parties; (b) made legitimately available to Executive by a third party without breach of any confidentiality obligation; or (c) required by law to be disclosed (including via subpoena); provided that Executive
shall give prompt Notice to the Company of such requirement of law, disclose no more information than is so required, and cooperate, at the Company’s cost, with any attempts by the Company to obtain a protective order or similar treatment.

 (iii) Except as required by law, Executive will not disclose to anyone, other than Executive’s immediate family and
legal or financial advisors, the existence or contents of this Agreement (unless this Agreement shall be publicly available as a result of a regulatory filing made by the Company or its affiliates or otherwise is disclosed by the Company to any
unaffiliated party that is not under a restriction of confidentiality at least as restrictive as this restriction upon Executive); provided, that Executive may disclose to any prospective future employer the notice provisions of that part of
Section 7 preceding Section 7(a) and the provisions of Sections 8 and 9 of this Agreement provided they agree to maintain the confidentiality of such terms. 
 (iv) Upon termination of Executive’s employment with the Company for any reason, Executive shall (x) cease and not thereafter
commence use of any Confidential Information or intellectual property (including without limitation, any patent, invention, copyright, trade secret, trademark, trade name, logo, domain name or other source indicator) owned or used by the Company,
its subsidiaries or affiliates; (y) immediately destroy, delete, or return to the Company, at the Company’s option, all originals and copies in any form or medium (including memoranda, books, papers, plans, computer files, letters and
other data) in Executive’s possession or control (including any of the foregoing stored or located in Executive’s office, home, laptop or other computer, whether or not Company property) that contain Confidential Information or otherwise
relate to the business of the Company, its affiliates and subsidiaries, except that Executive may retain only those portions of any personal notes, notebooks and diaries that do not contain any Confidential Information and his rolodex (or other
physical or electronic address book); and (z) fully cooperate with the Company regarding the delivery or destruction of any other Confidential Information not within Executive’s possession or control of which Executive is or becomes aware.

 (b) Intellectual Property. 
 (i) If Executive has created, invented, designed, developed, contributed to or improved any works of authorship, inventions, intellectual property, materials, documents or other work product (including without
limitation, research, reports, software, databases, systems, 

  

 12 

 
applications, presentations, textual works, content, or audiovisual materials) (“Works”), either alone or with third parties, prior to
Executive’s employment by the Company, that are relevant to or implicated by such employment (“Prior Works”), Executive hereby grants the Company a perpetual, non-exclusive, royalty-free, worldwide, assignable, sublicensable
license under all rights and intellectual property rights (including rights under patent, industrial property, copyright, trademark, trade secret, unfair competition and related laws) therein for all purposes in connection with the Company’s
current and future business. 
 (ii) If Executive creates, invents, designs, develops, contributes to or improves any Works,
either alone or with third parties, at any time during Executive’s employment by the Company and within the scope of such employment and/or with the use of any the Company resources (“Company Works”), Executive shall promptly
and fully disclose same to the Company and hereby irrevocably assigns, transfers and conveys, to the maximum extent permitted by applicable law, all rights and intellectual property rights therein (including rights under patent, industrial property,
copyright, trademark, trade secret, unfair competition and related laws) to the Company to the extent ownership of any such rights does not vest originally in the Company. 
 (iii) Executive agrees to keep and maintain adequate and current written records (in the form of notes, sketches, drawings, and any other
form or media requested by the Company) of all Company Works. The records will be available to and remain the sole property and intellectual property of the Company at all times. 
 (iv) Executive shall take all requested actions and execute all requested documents (including any licenses or assignments required by a
government contract) at the Company’s expense (but without further remuneration) to assist the Company in validating, maintaining, protecting, enforcing, perfecting, recording, patenting or registering any of the Company’s rights in the
Prior Works and Company Works. If the Company is unable for any other reason to secure Executive’s signature on any document for this purpose, then Executive hereby irrevocably designates and appoints the Company and its duly authorized
officers and agents as Executive’s agent and attorney in fact, to act for and in Executive’s behalf and stead to execute any documents and to do all other lawfully permitted acts in connection with the foregoing. 
 (v) Executive shall not improperly use for the benefit of, bring to any premises of, divulge, disclose, communicate, reveal, transfer or
provide access to, or share with the Company any confidential, proprietary or non-public information or intellectual property relating to a former employer or other third party without the prior written permission of such third party. Executive
hereby indemnifies, holds harmless and agrees to defend the Company and its officers, directors, partners, employees, agents and representatives from any breach of the foregoing covenant. Executive shall comply with all relevant policies and
guidelines of the Company, including regarding the protection of confidential information and intellectual property and potential conflicts of interest. Executive acknowledges that the Company may amend any such policies and guidelines from time to
time, and that Executive remains at all times bound by their most current version. 
  

 13 

 (vi) The provisions of Section 8, 9 and 10 shall survive the termination of
Executive’s employment for any reason. 
 10. Specific Performance. Executive acknowledges and agrees that the Company’s
remedies at law for a breach or threatened breach of any of the provisions of Sections 8 or 9 would be inadequate and the Company would suffer irreparable damages as a result of such breach or threatened breach. In recognition of this fact,
Executive agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company, without posting any bond, shall be entitled to cease making any payments or providing any benefit otherwise required by this
Agreement and obtain equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available. 
 11. Miscellaneous. 
 (a) Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to conflicts of laws principles thereof. 
 (b) Entire Agreement/Amendments. This Agreement contains the entire understanding of the parties with respect to the employment of Executive by the Company. There are no restrictions, agreements, promises,
warranties, covenants or undertakings between the parties with respect to the subject matter herein other than those expressly set forth herein. This Agreement may not be altered, modified, or amended except by written instrument signed by the
parties hereto. In the event of any inconsistency between this Agreement and any other plan, program, practice or agreement of which Executive is a participant or a party, this Agreement shall control unless such other plan, program, practice or
agreement specifically refers to the provisions of this sentence. 
 (c) No Waiver. The failure of a party to insist upon strict
adherence to any term of this Agreement on any occasion shall not be considered a waiver of such party’s rights or deprive such party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.

 (d) Severability. In the event that any one or more of the provisions of this Agreement shall be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected thereby. 
 (e) Assignment. This Agreement, and all of Executive’s rights and duties hereunder, shall not be assignable or delegable by Executive. Any purported assignment or delegation by Executive in violation of
the foregoing shall be null and void ab initio and of no force and effect. This Agreement may be assigned by the Company to a person or entity which is an affiliate or a successor in interest to substantially all of the business operations of
the Company, provided, that (i) such assignment shall be subject to Executive’s rights under Section 7(c)(ii) and (ii) the Board has exercised reasonable diligence to determine that such assignee is then solvent (on a
balance sheet and cash flow basis) to satisfy the Company’s obligations under 

  

 14 

 
this Agreement together with all of the assignee’s other liabilities. Upon such assignment, the rights and obligations of the Company hereunder shall
become the rights and obligations of such affiliate or successor person or entity. 
 (f) Set Off; No Mitigation. The Company’s
obligation to pay Executive the amounts provided and to make the arrangements provided hereunder shall be subject to set-off, counterclaim or recoupment of amounts owed by Executive to the Company or its affiliates. Executive shall not be required
to mitigate the amount of any payment provided for pursuant to this Agreement by seeking other employment, taking into account the provisions of Section 8(a)(i), (ii) and (iii) of this Agreement, and such payments shall not be reduced
by any compensation or benefits received from any subsequent employer or other endeavor except as provided at Section 7(c)(iii)(E)(ii). 
 (g) Compliance with IRC Section 409A. Notwithstanding anything herein to the contrary, (i) if at the time of Executive’s termination of employment with the Company Executive is a “specified employee” as
defined in Section 409A of the Code and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such termination of employment is necessary in order to prevent any accelerated or additional tax
under Section 409A of the Code, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to Executive) until the date
that is six months following Executive’s termination of employment with the Company (or the earliest date as is permitted under Section 409A of the Code) and (ii) if any other payments of money or other benefits due to Executive
hereunder could cause the application of an accelerated or additional tax under Section 409A of the Code, such payments or other benefits shall be deferred if deferral will make such payment or other benefits compliant under Section 409A
of the Code, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner, determined by the Board, that does not cause such an accelerated or additional tax. For purposes of Section 409A of the Code,
each payment made under this Agreement shall be designated as a “separate payment” within the meaning of the Section 409A of the Code, and references herein to Executive’s “termination of employment” shall refer to
Executive’s separation from service with the Company within the meaning of Section 409A. To the extent any reimbursements or in-kind benefits due to Executive under this Agreement constitute “deferred compensation” under
Section 409A of the Code, any such reimbursements or in-kind benefits shall be paid to Executive in a manner consistent with Treas. Reg. Section 1.409A-3(i)(1)(iv). The Company shall consult with Executive in good faith regarding the
implementation of the provisions of this Section 11(g); provided that neither the Company nor any of its employees or representatives shall have any liability to Executive with respect to thereto. 
 (h) Successors; Binding Agreement. This Agreement shall inure to the benefit of and be binding upon personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. In the event of Executive’s death prior to receipt of all amounts payable to Executive (including any unpaid amounts due under Section 7), such amounts shall be paid
to Executive’s beneficiary designated by him by Notice to the Company or, in the absence of such designation, to his estate. 
  

 15 

 (i) Notice. For the purpose of this Agreement, notices and all other communications provided for
in the Agreement shall be in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or three postal delivery days after it has been mailed by United States registered mail, return receipt requested, postage
prepaid, addressed to the respective addresses set forth below in this Agreement, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that Notice of change of address shall be effective
only upon receipt (each such communication, “Notice”). 
 If to the Company, addressed to: 
 Crunch Holding Corp. 
 One Old Bloomfield

 Mountain Lakes, NJ 07046 
 Attention: General Counsel 
 with a copy which shall not constitute Notice to: 
 The Blackstone Group 
 345 Park Avenue

 New York, New York 10154 
 Attention: Prakash Melwani 
 with a copy which shall not constitute Notice to: 
 Simpson Thacher & Bartlett LLP 
 425
Lexington Ave. 
 New York, NY 10017 
 Attention: Gregory T. Grogan 
 If to Executive, to the address listed in the Company’s payroll records from time to time.

 (j) Executive Representation. Executive hereby represents to the Company that the execution and delivery of this Agreement by
Executive and the Company and the performance by Executive of Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any employment agreement or other agreement or policy to which Executive is a
party or otherwise bound. 
 (k) Prior Agreements. This Agreement supersedes all prior agreements and understandings (including verbal
agreements) between Executive and the Company and/or its affiliates regarding the terms and conditions of Executive’s employment with the Company and/or its affiliates (collectively, the “Prior Agreements”). 
 (l) Cooperation. Executive shall provide Executive’s reasonable cooperation in connection with any action or proceeding (or any appeal from
any action or proceeding) which relates to events occurring during Executive’s employment hereunder, provided, that, following 

  

 16 

 
termination of Executive’s employment, the Company shall pay all expenses incurred by Executive in providing such cooperation, including, without
limitation, all transportation, lodging and meal expenses (in the same level of comfort provided to Executive for his business travel during his period of employment) and reasonable attorneys fees. This provision shall survive any termination of
this Agreement. 
 (m) Withholding Taxes. The Company may withhold from any amounts payable under this Agreement such Federal, state
and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 
 (n) Counterparts. This Agreement
may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 (o) Arbitration. Any controversy, dispute, or claim arising out of, in connection with, or in relation to, the interpretation, performance or breach of this Agreement, including, without limitation, the
validity, scope, and enforceability of this section, may at the election of any party, be solely and finally settled by arbitration conducted in New York, New York, by and in accordance with the then existing rules for commercial arbitration of the
American Arbitration Association, or any successor organization and with the Expedited Procedures thereof (collectively, the “Rules”), subject to the right of the Company to seek interim equitable relief pursuant to Section 10
pending disposition of such arbitration. Each of the parties hereto agrees that such arbitration shall be conducted by a single arbitrator selected in accordance with the Rules; provided, that such arbitrator shall be experienced in deciding
cases concerning the matter which is the subject of the dispute. Any of the parties may demand arbitration by providing Notice to the other party and to the American Arbitration Association in accordance with the Rules (“Demand for
Arbitration”). Each of the parties agrees that if possible, the award shall be made in writing no more than 30 days following the end of the proceeding. Any award rendered by the arbitrator(s) shall be final and binding and judgment may be
entered on it in any court of competent jurisdiction. Each of the parties hereto agrees, except as may be required to enforce the arbitrator’s award, to treat as confidential the results of any arbitration (including, without limitation, any
findings of fact and/or law made by the arbitrator) and not to disclose such results to any unauthorized person. The parties intend that this agreement to arbitrate be valid, enforceable and irrevocable. In the event of any arbitration with regard
to this Agreement, each party shall pay its own legal fees and expenses, provided, however, that the Company shall pay the Arbitrator’s fees and costs of the arbitration. 
 (p) Indemnification. Without limiting any other indemnification of to Executive under any other plan or agreement in which Executive is a
fiduciary or a party, the Company shall indemnify Executive and hold Executive harmless from and against all costs, expenses, claims, losses and liabilities (including, without limitation, fees, judgments, fines, penalties and settlement payments)
reasonably incurred by Executive in connection with any action, suit or proceeding in which Executive is made, or is threatened to be made, a party or a witness by reason of Executive’s performance as an officer, director or employee of the
Company or its Subsidiaries or in any other capacity (including a fiduciary capacity) in which Executive serves at the request of the Company or its Subsidiaries (each, a “Proceeding”) to the maximum extent permitted by applicable
law. If any claim is asserted with respect to which would reasonably be 

  

 17 

 
expected to be entitled to indemnification, the Company shall pay Executive’s reasonable costs and expenses (including reasonable attorneys fees) with
respect to any Proceeding (or cause such expenses to be paid) on a quarterly basis; provided that Executive shall reimburse the Company for such amounts, plus simple interest thereon at the 90-day United States Treasury Bill rate as in effect
from time to time, compounded annually, if Executive ultimately shall be found by a court of competent jurisdiction not to have been entitled to such indemnification. The Company or its affiliates shall at all times maintain or cause to be
maintained a directors and officers’ liability insurance and indemnification policy covering Executive which is consistent with the policy that covers members of the Board. 
 [Signature Page Follows this Page] 
  

 18 

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

	
	CRUNCH HOLDING CORP.
	
	/s/ M. KELLEY MAGGS
	By: M. Kelley Maggs
	Title: Senior Vice President

  

	
	EXECUTIVE
	
	/s/ ROBERT GAMGORT
	Robert Gamgort

  

 19 

 EXHIBIT A 
 RELEASE OF CLAIMS 
 This Release of Claims is entered into by Robert Gamgort
(“Executive”). 
 WHEREAS, Executive and Crunch Holding Corp., with offices at One Old Bloomfield, Mountain Lakes, New
Jersey 07046 (the “Company”) entered into an Employment Agreement (the “Employment Agreement”) dated as of July 13, 2009 that provides Executive certain severance and other benefits in the event of an involuntary
termination of Executive’s termination without Cause or Executive’s resignation of employment due to a Constructive Termination (each term as defined under the Employment Agreement); 
 WHEREAS, Executive’s employment has so terminated; and 
 WHEREAS, pursuant to Section 7(c)(iii) of the Employment Agreement, a condition of Executive’s entitlement to certain severance and other benefits thereunder is his agreement to this Release of Claims.

 NOW, THEREFORE, in consideration of the severance and other benefits provided under Section 7(c)(iii)(B) and (C), Executive agrees as
follows: 
 1. Executive, for himself and his heirs, executors and administrators, hereby fully and finally waives, discharges and releases
the Company, including each of the Company’s past, current and future parents, subsidiaries, and affiliates, and its and their shareholders, members, directors, officers, and employees, from any and all claims relating to his employment with
the Company or his termination therefrom, whether now known or later discovered, which he or anyone acting on his behalf might otherwise have had or asserted, including, but not limited to, any express or implied contract of employment claims, any
tort claims, claims under Title VII of the Civil Rights Act of 1964, as amended, Section 1981 of the Civil Rights Act of 1866, the Age Discrimination in Employment Act of 1967, as amended, the Older Workers Benefit Protection Act of 1990, the
laws, including the labor laws of any state, including the State of New Jersey, and all claims under related common law, statutes, and executive orders at the federal, state and local levels of government, and any claims to any benefits from
employment with the Company other than: (i) those benefits set forth enumerated in Section 7(c)(iii) of the Employment Agreement, (ii) any claims for indemnification pursuant to Section 11(p) of the Employment Agreement,
(iii) all rights and benefits as a Class A-2 and Class B member of Peak Holdings LLC, and (iv) any claims for accrued and vested benefits under any of the Company’s employee retirement and welfare benefit plans in which Executive
participated immediately prior to the date of termination of his employment. In addition, Executive represents that no incident has occurred during his employment with the Company that could form the basis for any claim by him against the Company
under the worker’s compensation laws of any jurisdiction. 
 2. Executive represents that he has not brought, and covenants and agrees
that he will not bring or cause to be brought, any charges, claims, demands, suits or actions, known or unknown, in any forum, against the Company arising out of, connected with or related in any way to his dealings with the Company that occurred
prior to the effective date of this Agreement, 

  

 A-1 

 
including, without limitation, his employment or his termination; provided, however, that Executive shall not be prevented from enforcing any rights
he may have under and the terms of this Release of Claims, in accordance with Section 11(o) of the Employment Agreement. In the event that Executive brings an action to invalidate this Agreement, Executive covenants and agrees that prior to the
commencement of such action, he will tender back to the Company all consideration paid to him pursuant to Section 7(c)(iii)(B) and (C) of the Employment Agreement up to the date any such action is instituted. Executive acknowledges and
understands that all Company benefits provided under Section 7(c)(iii)(B) and (C) of the Employment Agreement will also be suspended as of the date such action is instituted and that no further consideration or benefits will be provided by
the Company during the pendency of such action. 
 3. Executive acknowledges that he is subject to a confidentiality covenant pursuant to
Section 9 of the Employment Agreement and a noncompetition covenant pursuant to Section 8 of the Employment Agreement and hereby reaffirms his obligations thereunder. 
 4. EXECUTIVE ACKNOWLEDGES THAT HE HAS BEEN ADVISED, IN WRITING, TO CONSULT WITH AN ATTORNEY OF HIS CHOICE PRIOR TO SIGNING THIS AGREEMENT AND THAT HE HAS
SIGNED THIS AGREEMENT KNOWINGLY, VOLUNTARILY, AND FREELY, AND WITH SUCH COUNSEL AS HE DEEMED APPROPRIATE. IN ADDITION, EMPLOYEE ACKNOWLEDGES THAT HE HAS BEEN PROVIDED WITH A PERIOD OF UP TO TWENTY-ONE (21) DAYS IN WHICH TO CONSIDER WHETHER OR
NOT TO ENTER INTO THIS RELEASE. FURTHER, EMPLOYEE ACKNOWLEDGES THAT HE HAS BEEN ADVISED OF HIS RIGHT TO REVOKE THIS AGREEMENT DURING THE SEVEN (7) DAY PERIOD FOLLOWING EXECUTION HEREOF, AND THAT THE AGREEMENT SHALL NOT BECOME EFFECTIVE OR
ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED. 
 5. Nothing contained herein shall be construed as an admission by the Company of any
liability of any kind to Executive, all such liability being expressly denied except for obligations of the Company imposed by the Employment Agreement which survive pursuant to this Release of Claims. 
  

	
	
	  
	Robert Gamgort
	
	Date:                         ,
20    

  

 A-2

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