EX-10.1 2 tdoc-20240930xexx101.htm EX-10.1 Document
展览10.1
。股息除息日为
Michael 沃特世
透过电子邮件

亲爱的麦可:  
本信函协议(连同附件一起,「」)反映了我们关于您未来服务和预期与德拉瓦州公司Teladoc Health, Inc.(「」)的分离的互相理解,并规定了您将有资格根据本协议获得的支付和福利。协议)反映了我们关于您未来服务和预期与德拉瓦州公司Teladoc Health, Inc.(「」)的分离的互相理解,并规定了您将有资格根据本协议获得的支付和福利。权益代理”或“我们」)和规定了您将有资格根据本协议获得的支付和福利。
1.    分拆. 截至本日期,我们特此确认您打算在2024年12月31日业务结束时辞职(“离职日期”),并衷心感谢您迄今对公司的宝贵贡献。您与公司一致同意您打算继续受雇,并将提供公司同意的合理过渡服务直至分手日期(“过渡期”)。在过渡期内,您可以从事与业务相关之外与不具竞争性的实体进行的活动,只要它们不会实质干扰您职责的履行或构成利益冲突; 提供 只要您仍然受聘于公司,您将受到公司业务行为规范和道德标准、相关交易方政策以及其他相关政策的约束,由公司合理管理,以符合过去惯例。 进一步提供 在过渡期间内,公司不反对您加入Morningside Technology Advisory有限责任公司的任何投资组合公司董事会。分离日期之日起,您与公司的雇佣关系在所有方面终止,并停止担任公司的首席运营官。您和公司将就您离职相关的所有内部和外部公告达成共识。
2.    基本薪水和福利至g离职日期之后.
a. 在过渡期内,您将继续在公司正常发薪日收到您当前的年薪,参与公司的福利计划,保持您当前的保险涵盖水平,并根据适用的奖励协议条款继续赋予您的股权授予。为免疫,无论本协议中含有何种相反条款,如果公司在 2024 年 12 月 31 日之前终止您的职位(除非因本协议的重大违反,并且您在公司向您发出书面通知说明违反后的 10 个工作日内未得到解决),公司应继续支付您根据本协议(包括第 2(a)、2(b)、3 和 4 条款)为您在 2024 年 12 月 31 日结束聘雇时的所有报酬和福利。为免疑惑,在过渡期间,本协议中的任何内容均不得禁止您根据您在 Teladoc Health, Inc. 14 级别离职计划(以下简称“离职计划”),根据您的雇佣合同(如下所定义)的相关条款对您应享有的任何遣散福利进行索取。离职计划),如在您的雇佣协议(如下所定义)中的相关条款所修订的情况下,根据



控制权的更改(如定义于遣散计划中)或其他企业交易。
b.    依据本协议的条款,在分离日期之前,只要您继续就业,将在分离日期后的九(9)个月内:(a)您将有资格按照您当前年薪水平持续收到基本工资,按照公司日常工资支付惯例支付;以及(b)公司应支付继续您及您的受益人在分离日期时生效的健康保险计划的COBRA保险费。 提供 在分离日期后,只要您或您的受益人根据公司的集体健康(医疗、牙科或视力)计划及时选择继续享有COBRA保险,您或您的受益人即可持续受到保障。
3.    2024年度奖金在职期间持续中,符合本协议条款至离职日期,您将有资格获得根据2024年12月31日结束的履职年度的实际表现由公司董事会或其指定人员判断而确定的年度现金奖励金,最迟于2025年3月15日前十(10)天现金支付。与执行长聘用有关的期权董事会或公司的代表机构董事会董事会或公司的代表机构
4.    股权的处理.
a. 您明了您将在2024年或之后无法获得额外的公司股票授予。
b. 假如(i)您在离职日期(除非在第2(a)款中另有规定,在该情况下您仍有权获得本第4(b)款规定的薪酬和福利)仍是公司员工,(ii)您在此之后的21天内签署所附的《总体豁免协议》,并且在签署后七天内不撤销该豁免,以及(iii)您签署所附的《再确认页面》 附录A 若干普通释放在此之内的21天内,您签署所附的《一般解除协议》,并且在签署后七天内不撤销该解除,以及(iii)您签署所附的《再次确认页》 附录B 若干再次确认页在分离日期或之后的21天内,所有授予您的、计划在分离日期后九(9)个月内解除限制的公司股权激励计划中的未获得的股权或以股权为基础的奖励将立即解除限制,任何受绩效限制的股权奖励将在该9个月期限内满足相应绩效条件的情况下有资格解除限制(“股权解除限制加速福利”); 在每种情况下,该B类股东和/或该B类股东的家庭成员需独立控制在此类帐户、计划或信托中持有的B类普通股实时; 此处无论如何均不得延长奖励的期限,如果有的话,也不得阻止将该奖励与公司其他高级主管持有的奖励在变更控制(如适用奖励协议中所定义的“变更控制”)或其他公司交易情况下基本相同地处理。您承认并同意,您持有的有资格的未解除限制的股权授予清单
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分隔日期后的授予(如适用的绩效条件)已列于一级管制药品除本段提供的情况外,所有未授予的股权奖项将于分隔日期失效。尽管有相反记载的条款,所有股权奖项(无论目前已授权或将在本段概述的情况下获得授权)应受相关奖项协议和发出该等奖项的股权激励计划或计划的规定管辖,只要必要为考虑由本段所作的修改。
您特此确认根据适用的奖励协议原始条款,您将不有权利获得此类权益加速,而这些利益乃是考虑到以及取决于您在本协议第7、9、10、11及12条款的所有重要事项方面的遵循。
5.    违约没收。 如果您在任何时候严重违反本协议第7、9、10、11和/或12条的规定,您将丧失根据第2(b)、3节欠您的所有余额。没收处罚;但是,没收处罚不得作为您在第7、9、10、11和/或12条中重大违反的任何和所有违约的唯一救济。

6.    其他好处;发布;阅读ffirmation Page。您承认并同意,如果没有本协议,此处描述的某些付款和福利将超过您在终止雇佣关系时本应有资格获得的总付款和福利。为了促使公司签订本协议以向您提供这些额外福利,您将(a)按照以下规定签署一般性声明 附录 A 本协议在收到后的 21 天内,(b) 不得在一般新闻稿规定的七天内撤销此类一般性声明,以及 (c) 在离职之日或其后的 21 天内,按照以下规定签署重申页面 附录 B 在此之前,不要在一般新闻稿规定的七天期限内及时撤销重申页面。除了您执行和不撤销一般解除和重申页面(如适用)外,您继续有权获得本协议中描述的款项和福利的前提是您在所有重大方面继续遵守本协议第 7、9、10、11 和 12 节的规定,如上文第 5 节所述。您特此承认,除非本协议中另有明确规定,否则您无权从公司获得任何现金或非现金对价或其他任何形式的利益,包括根据公司的任何股权薪酬计划和相关奖励协议或与本公司的任何其他协议或公司的任何遣散费计划、政策或协议您可能有权获得的任何款项或福利。公司还同意,应在适用于您的相同截止日期内及时执行和交付新闻稿和重申页面。

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7.    机密信息; 发明授权.
a. 您理解并同意,您仍然受2022年7月15日与公司签订的行政雇佣协议第9和第10款规定的限制条款约束,(简称“雇佣协议”)以及公司与您于2022年6月16日签订的保密协议(简称“保密协议”).
8.    员工保护.
a. 尽管本协议或任何其他保密条款或协议中包含任何相反的规定,您因在公司工作而可能受到约束,但本协议或其他任何内容均不限制您直接与证券交易委员会沟通和提供信息(包括文件)的能力,这些信息不受任何适用法律或特权的保护,以免向证券交易委员会披露(””)或任何其他联邦、州或地方政府机构或委员会(每个,一个”政府机构”)关于可能的违法行为,未向公司披露。公司不得因上述任何活动对您进行报复,本协议中的任何内容均不要求您放弃您可能有权从美国证券交易委员会或任何其他政府机构获得的任何金钱奖励或其他付款。本协议中的任何内容均不妨碍您向平等就业机会委员会提出歧视指控或向州或地方公平就业实践机构提出类似指控或投诉; 提供的, 然而,一旦本协议生效,您将无权就您提出或代表您提出的任何此类指控或投诉从公司获得金钱补偿或任何其他形式的个人救济。尽管本文有任何相反的规定,但公司仍主张并且不会放弃其律师-委托人对受该特权适当保护的任何信息的特权。
b. 根据 2016 年《保护商业秘密法》,根据任何联邦或国家商业秘密法律,对于 (i) 向联邦、州或地方政府官员直接或间接向律师进行隐私的披露商业秘密,而 (B) 仅用于举报或调查怀疑违反法律;或 (ii) 是以任何一项投诉或投诉而作出的商业秘密法律而不承担刑事或民事责任在诉讼或其他程序中提交的其他文件,如该等申请是在密封下提交的。此外,并且不限于上一句,如阁下向本公司提出报告怀疑违法律的诉讼,阁下可向律师披露营业秘密,并可在法庭程序中使用商业秘密资料,如阁下 (x) 在印章下提交任何包含商业秘密的文件,并且 (y) 不披露营业秘密,除非法院命令除外。此外,如果未根据上述事项诚意披露机密信息,则您
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可能会遭受相当大的损害,包括惩罚性损害赔偿金和律师费。
9.    相互不支援g元素。您和本公司承认并同意,您的雇佣协议第 11 条所载的不轻视条款将依据该等条款之分离日后,依照该条文的适用条款仍然完全有效和有效。同样,本公司不得在任何时间,并且应指示所有薪资等级 13 及以上的雇员,不得以任何方式承诺对您的负面声明或表示虚假、误导或负面的态度,或以任何其他方式发表关于您的负面声明,或对您表示敌意态度。本条文不会阻止任何一方(或适用雇员)(i)在回应法律程序时提供真实的证词,以及 (ii) 更正本公司或其任何人员或董事对您所作的虚假或误导性声明,或更正您对本公司或其任何附属公司及其各自的董事、高阶主管所作出的虚假或误导性声明。
10.    非竞争。 倘若公司遵循本协议中的义务,您同意自本协议日期起至分开日期后九(9)个月期间(即“限制期间”),未经董事会事先书面同意,您不得在该期间内,直接或间接地,无论作为委托人、投资者、员工、官员、董事、经理、合伙人、顾问、代理人或以其他身份,单独或与任何其他人、公司、合伙企业或其他商业组织共同或合作,从事、拥有、管理、经营、参与或受雇于、与竞争业务(如下定义)在公司当时从事业务的任何司法管辖区,或在该期间的任何时候变得从事; 然而,本协议不限制受限制方从招聘或聘用该公司或购买者在至少六个月前终止雇佣的任何此类员工;且,本协议内容不得限制您就(a)被一独立部门或营运单位(“部门”)雇用或受雇于,一家过去完整财政年度至少有10000万美元营业收入的多部门企业或企业(此类企业或企业,核准的企业),如果(x)您所在的部门不设计、开发、分发、提供支持、市场营销、提供咨询、许可或销售竞争业务的产品或服务,(y)您不直接或间接为核准企业的任何其他部门或营运单元提供服务,这些部门或营运单元设计、开发、分发、支持、市场营销、提供咨询、许可或销售竞争业务的产品或服务(该部门或营运单元为“竞争性部门),并(z)核准企业的竞争部门,在最近完成的财政年度和您被该部门雇用或参与之前的每个季度期间,占核准企业的综合收入不超过20%;(b)在私人债券、创投或股权投资基金中拥有有利拥有权益,或受聘或参与投资于从事竞争业务的投资组合公司,只要您无权控制或施加任何管理影响力于从事竞争业务的该投资组合公司;(c)拥有不超过任何正在向证券和交易所提交报告的企业组织的1%债券或股权证券
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根据1934年修订后的证券交易法第13条或第15(d)条的规定,(d)寻找就业或其他关系或(e)签订任何就业或类似协议; 尽管管理人可能指定在参与者死亡、残疾或退休(由管理人定义)或其他管理人指定的情况下,将奖励的全部或部分金额的支付取决于在管理人指定的期间内实现或部分实现一个或多个绩效目标,但管理人必须要求支付所有或任何部分的长期激励奖金受到长期激励奖金范围内金额部分实现的限制。 确保您在限制期间内未开始从事任何竞争性业务。根据本协议的定义,“竞争业务”指的是运营互联网医疗业务并提供以下任何产品或服务的任何业务:(i)虚拟急诊或初级护理;(ii)虚拟行为健康;(iii)供医院和健康系统提供虚拟护理的平台或网络设备;或(iv)慢性病管理。尽管前述,本文概不禁止您在限制期间内担任无营业收入超过上一个完整财政年度25000万美元的互联网医疗公司的董事会成员或非雇员有薪顾问, 提供 请确保您遵守本协议第7条、第11条和第12条的义务,明确指出,这包括《雇佣协议》第9条和第10条以及保密协议中所列义务, 进一步提供 根据这句话,您可能在担任董事或非雇员付费顾问的任何此类公司中取得股权。
11.    非招揽你同意在本协议生效日期起至分离日期后九(9)个月内(「分离期」),你不会直接或间接拉拢、诱使或鼓励公司的任何管理层员工终止其雇用、顾问或其他向公司提供服务的关系。根据本协议,「管理层员工」指任何被指定为副总裁及以上的员工。不招募期间),你不会直接或间接拉拢、诱使或鼓励公司的任何管理层员工终止其雇用、顾问或其他向公司提供服务的关系。根据本协议,「管理层员工」指任何被指定为副总裁及以上的员工。
12.    Non-Inducement and Non-Interference. You agree that during the Non-Solicit Period, you will not knowingly and intentionally induce or attempt to induce any customer, client, supplier, licensee or other business relationship of the Company to cease doing or reduce their business with the Company.
13.    Termination. Upon the termination of your employment for any reason, the Company shall pay to you (i) all earned but unpaid base salary through such date of termination; (ii) all accrued but unused vacation as of such date of termination; (iii) reimbursement for all business expenses that you incurred during your employment with the Company in accordance with the Company’s expense reimbursement policy; and (iv) any vested employee benefits in accordance with the terms and conditions with the applicable Company benefit plan or arrangement.
14.    Indemnification Agreement. The Company shall comply with the terms of the Indemnification Agreement, dated July 25, 2022, between the Company and you (the “Indemnification Agreement”), which shall remain in full force and effect following the execution of this Agreement and shall survive the termination of your employment for any reason.
15.    Governing Law; Jurisdiction and Venue. This Agreement, for all purposes, will be construed in accordance with the laws of New York without regard to conflicts-of-law principles. Any action or proceeding by either you or the Company to enforce this
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Agreement will be brought only in any state or federal court located in the State of New York, County of Westchester. You and the Company hereby irrevocably submit to the exclusive jurisdiction of such courts and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in such venue.
16.    Notices. All notices, requests and other communications under this Agreement, the General Release and the Reaffirmation Page will be in writing (including facsimile, Adobe Sign or similar writing) to the applicable address (or to such other address as to which notice is given in accordance with this Section 16).
If to you:    Michael Waters
[____________]
With a copy to:    Becker, Glynn, Muffly, Chassin & Holinski LLP
299 Park Avenue
New York, NY 10171
Attn: Bonnie Klugman
Email: BKlugman@beckerglynn.com
If to the Company:    Teladoc Health, Inc.
2 Manhattanville Road, Suite 203
Purchase, NY 10577
Attn: Adam Vandervoort

Each such notice, request or other communication will be effective only when received by the receiving party; provided, however, that the Company’s obligation to copy your counsel on any notice below shall not qualify as formal notice hereunder.
17.    Transferability.
a.    This Agreement will be binding upon and inure to the benefit of you and the Company and their respective successors, heirs (in your case) and permitted assigns.
b.    No rights or obligations of the Company under this Agreement may be assigned or transferred by it except that such rights and obligations will be automatically assigned or transferred pursuant to a merger, amalgamation, consolidation or other combination in which the Company is not the continuing or resulting entity, or a sale or liquidation of all or substantially all of the Company’s business and assets; provided that the assignee or transferee is the successor to all or substantially all of the business and assets of the Company and expressly assumes the obligations hereunder.
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c.    None of your rights or obligations under this Agreement may be assigned or transferred by you other than your rights to compensation and benefits, which may be transferred only by will or by operation of law.
d.    You will be entitled, to the extent permitted under applicable law and applicable plans or programs of the Company, to select and change a beneficiary or beneficiaries to receive any compensation or benefit hereunder following your death by giving written notice thereof to the Company. In the event of your death or a judicial determination of your incompetence, references in this Agreement to you will be deemed, where appropriate, to refer to your beneficiary, estate, executor or other legal representative. For the avoidance of doubt, your heirs will receive the payments and benefits set forth in Section 2(b), 3 and 4 in the event of your death.
18.    Counterparts. This Agreement may be executed in counterparts. Signatures delivered by facsimile (including, without limitation, by “pdf”) will be effective for all purposes.
19.    Entire Agreement. This Agreement (along with your equity award agreements (as amended herein) and the Indemnification Agreement) sets forth the entire agreement and understanding relating to your employment relationship with the Company; this Agreement supersedes all prior discussions, negotiations, term sheets, illustrative calculations, proposed arrangements and agreements concerning your employment with the Company and your separation therefrom and may not be amended except by mutual written agreement, executed by you and the Company, that specifically identifies the provisions being amended.
20.    Representations.
a.    The Company represents and warrants that (i) it is fully authorized by action of its Board (and of any other person or body whose action is required) to enter into this Agreement and to perform its obligations under it, (ii) to the best of its knowledge and belief, the execution, delivery and performance of this Agreement by it does not violate any applicable law, regulation, order, judgment or decree or any agreement, arrangement, plan or corporate governance document to which it is a party or by which it is bound and (iii) upon the execution and delivery of this Agreement by you and the Company, this Agreement will be its valid and binding obligation, enforceable against it in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally. In the event that the foregoing representation is in any respect false, the Company will promptly and fully indemnify you against any liability, loss, expense or obligation that you incur as a result.
b.    You represent and warrant that (i) to the best of your knowledge and belief, the execution, delivery and performance of this Agreement by you does not violate any applicable law, regulation, order, judgment or decree, (ii) you have (A) been
8



individually represented by independent legal counsel of your own selection in reviewing, negotiating and executing the terms of this Agreement, including the General Release and Reaffirmation Page and (B) engaged such independent legal counsel in accordance with California Labor Code Section 925 with the specific intent with full knowledge and understanding and in reliance on your own judgment and any advice provided by such independent legal counsel to designate the substantive laws of the State of New York as the choice of law to be applied to this Agreement, including the restrictive covenants set forth in Sections 7, 9, 10, 11 and 12, the General Release and the Reaffirmation Page, and to designate the State of New York for venue and jurisdiction, and (iii) upon the execution and delivery of this Agreement by you and the Company, this Agreement will be your valid and binding obligation, enforceable against you in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or laws or principles of equity. In the event that the foregoing representation is false in any respect, you will promptly and fully indemnify the Company against any liability, loss, expense or obligation that the Company incurs as a result.
21.    Miscellaneous
a.    Nothing herein changes the at-will nature of your employment.
b.    No waiver by any person or entity of any breach of any condition or provision contained in this Agreement will be deemed a waiver of any similar or dissimilar condition or provision at the same or any prior or subsequent time. To be effective, any waiver must be set forth in a writing signed by the waiving person or entity and must specifically refer to the condition(s) or provision(s) of this Agreement being waived.
c.    The headings of the sections and subsections contained in this Agreement are for convenience only and will not be deemed to control or affect the meaning or construction of any provision of this Agreement.
d.    In the event of any inconsistency between the terms of this Agreement and the terms of any other plan, program, agreement, award document or other arrangement of the Company, the terms of this Agreement will control.
e.    Payments under this Agreement will be subject to applicable withholding taxes, deductions and required employee tax contributions. This Agreement is intended to either comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the interpretative guidance thereunder, including the exceptions for short-term deferrals, separation pay arrangements, reimbursements, and in-kind distributions. This Agreement shall be construed and interpreted in accordance with such intent. In addition, each payment shall be considered a separate payment for purposes of Section 409A of the Code and any termination of employment under this Agreement shall mean a
9



separation from service as defined in Section 409A of the Code and Treas. Reg. §1.409A-1(h)(1)(ii) (or other similar or successor provision). To the extent any reimbursements or in-kind benefit payments under this Agreement are subject to Section 409A, such reimbursements and in-kind benefit payments shall be made in accordance with Treas. Reg. §1.409A-3(i)(1)(iv) (or any similar or successor provisions). The parties agree to make such other amendments to this Agreement as are necessary to comply with the requirements of Section 409A of the Code if Section 409A of the Code is applicable to this Agreement.
If you are deemed on the date of termination to be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B), then with regard to any payment that is considered non-qualified deferred compensation under Section 409A payable on account of a “separation from service,” such payment or benefit shall be made or provided at the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such “separation from service”, and (B) the date of Employee’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this subsection (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to you in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. In no event may you, directly or indirectly, designate the calendar year of any payment to be made under this Agreement that is considered nonqualified deferred compensation. In no event shall the timing of your execution of a release of claims, directly or indirectly, result in you designating the calendar year of payment, and if a payment that is subject to execution of a release of claims could be made in more than one taxable year, payment shall be made in the later taxable year.
f.    The Company will pay your legal fees incurred in connection the negotiation of this Agreement up to $25,000 within 30 days of the date hereof.

[Signature Page Follows]
10



Teladoc Health, Inc.
By:    /s/ Adam C. Vandervoort    
Title: Chief Legal Officer
Date: September 29, 2024
I HAVE READ THIS LETTER AGREEMENT AND UNDERSTAND ALL OF ITS TERMS. I SIGN AND ENTER THIS LETTER AGREEMENT KNOWINGLY AND VOLUNTARILY, WITH FULL KNOWLEDGE OF WHAT IT MEANS.
Michael Waters
/s/ Michael Waters    
Date: September 27, 2024

[Signature Page to Separation Agreement]


APPENDIX A
GENERAL RELEASE
I, Michael Waters, in consideration of and subject to the performance by Teladoc Health, Inc. (the “Company”), of its obligations under the Letter Agreement, by and between me and the Company, dated as of September 27, 2024 (as amended from time to time, the “Agreement”), do hereby release and forever discharge as of the date hereof the Company and all present and former directors, officers, agents, representatives, employees, successors and assigns of the Company and the Company’s direct or indirect owners (collectively, the “Released Parties”) to the extent provided below, subject to Section 7 of the Agreement. I understand that, in consideration thereof, the Company does hereby release and forever discharge, as of the date hereof, me from any and all claims arising out of, or in connection with, my employment with, or separation from, the Company; provided, however, that nothing in the foregoing shall release me from any claim arising from my violation of the Agreement.
1.    I understand that any payments or benefits paid to me under the Agreement represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. Such payment or benefits will not be considered compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company. I also acknowledge and represent that, subject to the Company’s compliance with the provisions of Sections 2, 3, 4, 13 and 14 of the Agreement, I have received all payments and benefits that I am entitled to receive (as of the date hereof) by virtue of any employment by the Company.
2.    Except as provided in paragraphs 4 and 12 below and except for the provisions of the Agreement which expressly survive during and following the termination of my employment with the Company, I knowingly and voluntarily (for myself, my spouse, and my heirs, executors, administrators and assigns) release and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counterclaims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date this General Release becomes effective and enforceable) and whether known or unknown, suspected, or claimed against the Company or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators or assigns may have, which arise out of or are connected with my employment with, or my separation or termination from the Company (including any allegation, claim or violation arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act) (the “ADEA”); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; or their state or local
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counterparts; or under any other federal, state or local civil or human rights law, or under any other local, state or federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress or defamation; or any claim for costs, fees or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the “Claims”); provided, however, that nothing in this General Release releases or waives (i) any right or claim I may have to indemnification, advancement of expenses or insurance coverage under the Indemnification Agreement, the bylaws, articles of incorporation, other corporate governance documents or insurance policies of the Company, or applicable law; (ii) any right or claim I may have to vested employee benefits under the terms and conditions of any Company plan; (iii) any claim or rights arising under the Agreement; or (iv) any claims that arise after the date I sign this General Release.
3.    I represent that I have made no assignment or transfer of any right, claim, demand, cause of action or other matter covered by paragraph 2 above.
4.    I agree that this General Release does not waive or release any rights or claims that I may have under the ADEA which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company in compliance with the terms of the Agreement will not serve as the basis for any claim or action (including any claim under the ADEA).
5.    I agree that I am waiving all rights to sue or obtain equitable, remedial or punitive relief from any or all Released Parties of any kind whatsoever, including reinstatement, back pay, front pay, attorneys’ fees (except as set forth in the Agreement) and any form of injunctive relief. Notwithstanding the foregoing, I further acknowledge that I am not waiving and am not being required to waive any right that cannot be waived under law, including the right to file an administrative charge or participate in an administrative investigation or proceeding.
6.    In signing this General Release, I acknowledge and intend that it will be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. I expressly consent that this General Release will be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims (notwithstanding any state statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the terms of the Agreement. I further agree that in the event I should bring a Claim seeking damages against the Company, this General Release will serve as a complete defense to such Claims to the maximum extent permitted by law. I further agree that I am not aware of any pending claim of the type described in paragraph 2 above as of the execution of this
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General Release. I also agree to hold each of the Released Parties harmless from and to indemnify each of the Released Parties against, any and all damages, including attorneys’ fees and expenses that any of them may suffer on account of any breach of any representation or warranty I make hereunder.
7.    I represent that I am not aware of any claim by me other than the claims that are released by this General Release. I acknowledge that I may hereafter discover claims or facts in addition to or different than those which I now know or believe to exist with respect to the subject matter of this General Release and which, if known or suspected at the time of entering into this General Release, may have materially affected this General Release and my decision to enter into it. Nevertheless, I hereby waive any right, claim or cause of action that might arise as a result of such different or additional claims or facts.
8.    Both parties agree that neither the execution of this General Release, nor the furnishing of the consideration for this General Release, will be deemed or construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct.
9.    I agree that I will forfeit all amounts payable by the Company pursuant to the Agreement if I challenge the validity of this General Release other than the validity of the ADEA release. I also agree that if I violate this General Release by suing the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including reasonable attorneys’ fees, and return all payments received by me pursuant to the Agreement. For the avoidance of doubt, nothing in this paragraph 9 will prohibit me from enforcing my rights under the Agreement.
10.    I agree to reasonably cooperate (with due regard to my personal and professional commitments) with the Company upon the written request of the Board of Directors and/or Chief Executive Officer of the Company in any internal investigation, any administrative, regulatory, or judicial proceeding or any dispute with a third party, in each case in accordance with the Agreement, and the Company will reimburse me for any reasonable expenses approved by the Company incurred as a result of such internal investigation, proceeding or dispute, and will comply with the terms of the Indemnification Agreement.
11.    Notwithstanding anything in this General Release to the contrary, this General Release will not relinquish, diminish or in any way affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof, including, without limitation, of the Agreement.
12.    Whenever possible, each provision of this General Release will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, and this General Release will
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be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.
BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT:
(a)    I HAVE READ IT CAREFULLY;
(b)    I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING RIGHTS UNDER THE ADEA; TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED; THE EQUAL PAY ACT OF 1963; THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (NOT INCLUDING SUCH RIGHTS AS MAY BE ENFORCEABLE PURSUANT TO MY PARTICIPATION IN A 401(K) PLAN SPONSORED BY THE COMPANY);
(c)    I VOLUNTARILY CONSENT TO EVERYTHING IN IT;
(d)    I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT, AND I HAVE DONE SO;
(e)    I HAVE BEEN GIVEN ALL TIME PERIODS REQUIRED BY LAW TO CONSIDER THIS GENERAL RELEASE, INCLUDING THE 21-DAY PERIOD REQUIRED BY THE ADEA. I UNDERSTAND THAT I MAY EXECUTE THIS GENERAL RELEASE LESS THAN 21 DAYS FROM ITS RECEIPT FROM THE COMPANY, BUT AGREE THAT SUCH EXECUTION WILL REPRESENT MY KNOWING WAIVER OF SUCH 21-DAY CONSIDERATION PERIOD;
(f)    I UNDERSTAND THAT I HAVE SEVEN DAYS AFTER THE EXECUTION OF THIS GENERAL RELEASE TO REVOKE IT AND THAT THIS GENERAL RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED;
(g)    I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND
(h)    I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME.

[Signature Page Follows]
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As evidenced by the signatures below, Michael Waters and the individual executing this General Release for the Company each certify that he or she has read this General Release and understands and agrees to all of its terms.

By:    /s/ Michael Waters    
Michael Waters
September 27, 2024    
Date
Teladoc Health, Inc.
By:    /s/ Adam C. Vandervoort    
Name: Adam C. Vandervoort
Title: Chief Legal Officer
September 29, 2024    
Date

[Signature Page to General Release]



APPENDIX B
REAFFIRMATION PAGE
I, Michael Waters, have confirmed my understanding and agreement to the commitments set forth in the Letter Agreement, by and between me and Teladoc Health, Inc. (the “Company”), dated as of September 27, 2024 (as amended from time to time, the “Agreement”) as of the date of my execution. This page represents my reaffirmation of the commitments set forth in the Agreement and the General Release attached thereto as Appendix A (the “General Release”) as of the date hereof, and I hereby agree that the general release of claims pursuant to General Release will be extended to cover any act, omission or occurrence occurring up to and including the date hereof.
I ratify and reaffirm the commitments set forth in the Agreement:

    
Michael Waters
    
Date
The Company hereby confirms its understanding and agreement to the commitments set forth in the Agreement as of the date of execution by the Company below. This page represents the Company’s reaffirmation of its commitments set forth in the Agreement and the General Release as of the date hereof, and the Company hereby agrees that the general release of claims pursuant to the General Release will be extended to cover any act, omission or occurrence occurring up to and including the date hereof.
The Company hereby ratifies and reaffirm the commitments set forth in the Agreement:

Teladoc Health, Inc.
By:    ________________________________
    Name:     __________________________
    Title:         

Date:     ___________________________
B-1


Schedule I
Schedule I
Equity Awards Eligible for Vesting Within Nine Months Following the Separation Date

Equity Grant
Grant
Date
Vesting ScheduleNumber of Shares Eligible for Vesting in 9 monthsVesting and Settlement Date
2022 Initial Hire RSUs08/01/2022Vested 1/3 in August 2023, then quarterly through August 202533,960
Promptly Following Separation Date
2023 RSUs03/03/2023Vested 1/3 in March 2024, then quarterly through March 202618,602
Promptly Following Separation Date
2023 PSUs
(2023 AEBITDA)
03/03/2023Vesting 1/3 in March 2024 (based on 2023 performance), then quarterly through March 20266,339
Promptly Following Separation Date
2023 PSUs
(2024 Revenue)*
03/03/2023Vesting 2/3 in March 2025 (subject to 2024 performance), then quarterly through March 202624,801 (at target; actual between 0% and 200% of target depending on performance)After performance is determined (March 2025)
2024 RSUs03/19/2024Vesting 1/3 in March 2025, then quarterly through March 202743,748Promptly Following Separation Date
2024 PSUs
(2024 AEBITDA)*
03/19/2024Vesting 1/3 in March 2025 (subject to 2024 performance), then quarterly through March 202717,498 (at target; actual between 0% and 200% of target depending on performance)After performance is determined (March 2025)
2024 PSUs
(2024 FCF)*
03/19/2024Vesting 1/3 in March 2025 (subject to 2024 performance), then quarterly through March 20274,374 (at target; actual between 0% and 200% of target depending on performance)After performance is determined (March 2025)

*Vesting and determination of amount of shares that would have vested within 9 months remains subject to achievement of Company performance targets through the end of 2024.