Supplemental Equity Rights Clarification Letter Agreement between Tactile Systems Technology, Inc. and Daniel Reuvers (June 20, 2024)
This letter agreement between Tactile Systems Technology, Inc. and Daniel Reuvers clarifies the treatment of Mr. Reuvers' equity awards upon the end of his employment, which is expected to be March 31, 2025, unless ended earlier. It confirms that his employment termination will be considered a termination of service for equity award purposes, even if he remains a director. Unvested performance share units and restricted stock units will be forfeited at that time, and vested stock options will be exercisable as if service ended on the employment termination date. The original agreement remains in effect, as clarified by this letter.
Exhibit 10.4
June 20, 2024
Daniel Reuvers (By E-Mail)
Dear Dan,
As a supplement to that certain letter agreement, between you and Tactile Systems Technology, Inc. dated April 23, 2024 (the “Letter”), we wish to clarify the provision titled “Your Equity Rights”. For the avoidance of doubt, we confirm that, unless otherwise modified by separate written agreement between you and the Company, the date that your employment with the Company ends as provided in the Letter (contemplated to be March 31, 2025 unless earlier terminated as provided in the Letter) (the “Employment Termination Date”) shall be deemed a termination of “Service” under the terms of your Equity Awards notwithstanding that you remain a director of the Company after the Employment Termination Date. Vesting of unvested performance share units and restricted stock units held by you on the Employment Termination Date shall cease as of such date and such Equity Awards will be forfeited, and any vested stock options held by you on that date will be exercisable for the period set forth therein as if your “Service” ended on the Employment Termination Date.
Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Letter. The Letter shall remain and continue in full force and effect, as clarified by this letter.
Please sign and return this countersigned letter to me to confirm your agreement to the clarifications to the Letter set forth in this letter.
Sincerely,
/s/ Elaine Birkemeyer
Elaine Birkemeyer
Chief Financial Officer
Acknowledged and Agreed as of the date first written above:
/s/ Daniel Reuvers
Daniel Reuvers
