Item 1.02 Termination of a Material Definitive Agreement.

On March 23, 2020, Town Sports International Holdings, Inc. (the "Company") delivered notice of termination of that certain professional services agreement, effective as of November 12, 2019 (the "Services Agreement"), with Alvarez & Marsal Corporate Performance Improvement, LLC ("Alvarez & Marsal"). The Services Agreement provided for (i) the engagement of Helen Van Ness as interim Chief Financial Officer of the Company and (ii) the provision of certain additional consulting and advisory services to the Company by Alvarez & Marsal. The Company had been paying Alvarez & Marsal a fee of $165,000 per month for the services provided pursuant to the Services Agreement. The Company was entitled to terminate the Services Agreement without penalty with immediate effect upon delivery of written notice to Alvarez & Marsal.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;


           Appointment of Certain Officers; Compensatory Arrangements of Certain
           Officers.

On March 23, 2020, in connection with the termination of the Services Agreement, the Company terminated Helen Van Ness as interim Chief Financial Officer. The termination of Ms. Van Ness is effective immediately and was not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

The Company has appointed Phillip Juhan as Chief Financial Officer with immediate effect as of March 23, 2020. Mr. Juhan, age 45, has served as Vice President of Business Operations for the Company since August 13, 2018. Mr. Juhan brings a number of years of progressive experience in both financial and entrepreneurial leadership roles. From 2002 to 2014, Mr. Juhan worked in the Investment Banking Divisions of Prudential Financial and the Bank of Montreal, where he led consumer focused research within the Financial Services (Real Estate, Gaming and Lodging) and Consumer (Broadlines Retail and Restaurants) sectors. Since 2014, Mr. Juhan has served as Founder and President of B.L.K. LLC, a restaurant operating company, and as Founder and General Partner of Simple PropCo LLC, a Georgia based real estate holding company.

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