Exhibit 10.1



 Exhibit 10.1 

THIRD AMENDMENT TO 
 JEFFREY H.
BURBANK EMPLOYMENT AGREEMENT 
 WHEREAS, NxStage Medical, Inc. (the “Company”) and Jeffrey H. Burbank (“Executive”)
entered into an employment agreement dated as of October 19, 2005, as amended (the “Agreement”); 
 WHEREAS, the Company and Executive
desire to further amend the Agreement on the terms set forth in this Third Amendment to the Agreement (the “Amendment”) dated as of August 5, 2017 (the “Amendment Effective Date”); and 

WHEREAS, all capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties amend the Agreement effective as of the Amendment Effective Date as follows: 
  

	 	1.	The following new Section 1.7 is added to the Agreement: 


Section 1.7. Non-competition In order to safeguard the Company’s Proprietary Information (as defined in
Executive’s Employee Proprietary Information and Inventions Agreement with the Company dated as of March 22, 1999) and the Company’s relationships with its customers, and to preserve the goodwill of its business, Executive agrees that
during the term of his employment and for a period of one (1) year following the termination of his employment with the Company for any reason, Executive will not, directly or indirectly: (i) accept employment with, advise, or provide
services to any business or entity that directly or indirectly competes with any product or service conceived, manufactured, sold or under development by the Company (“Competing Business”), without the prior written consent of the
Company, (ii) have any ownership interest in (other than an investment interest of less than 1% of the total outstanding shares of a publicly traded company) a Competing Business, (iii) hire or attempt to hire or assist any other person in
hiring or attempting to hire any employee of the Company, (iv) encourage, solicit, recruit or assist any person in encouraging, soliciting or recruiting any employee, director or other person affiliated with the Company to terminate or alter
his or her relationship with the Company, or (v) encourage or assist any person in encouraging any customer or supplier of the Company to terminate or alter its relationship with the Company. The obligations set forth in this Section 1.7
shall be limited to conduct occurring in the Restricted Area defined below or benefiting a Competing Business’s operations or sales in the Restricted Area. Executive agrees that the type and period of restrictions imposed by this Section are
fair and reasonable, particularly given the risk of probable or inevitable disclosure of Proprietary Information to a competitor should Executive become employed in certain positions, and that such restrictions are intended solely to protect the
legitimate interests of the Company, rather than to prevent Executive from earning a livelihood. Executive recognizes that his access to Proprietary Information, business goodwill, and to the Company’s customers and suppliers makes it necessary
for the Company to restrict Executive’s post-employment activities in, or directly or indirectly impacting, any area in the United States and each additional country where the Company does business (including state and state-equivalents and
county and county-equivalents within those countries) (“Restricted Area”). Executive acknowledges that nothing in the foregoing Section 1.7 is intended to prohibit Executive from engaging in conduct








 
that is authorized as part of his job duties for the Company and undertaken for the Company’s benefit. Executive agrees that this Agreement, including, without limitation, the provisions of
this Section 1.7, shall continue to apply and be valid notwithstanding any change in Executive’s duties, responsibilities, position, or title. In the event of any conflict between the terms of this Section 1.7 and Section 1.2 of
this Agreement, the terms of this Section 1.7 shall prevail. If any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall
be construed by limiting and reducing it, so as to be enforceable to the extent compatible with the applicable law as it shall then appear. Executive agrees that a remedy at law for any breach or threatened breach of the covenants or other
obligations in this Agreement would be inadequate and that the Company and its affiliates, in addition to any other remedies available, shall be entitled to obtain preliminary and permanent injunctive relief to secure specific performance of such
covenants. 
  

	 	2.	Section 2.1(b)(i) is amended in its entirety as follows: 

  

	 	(i)	Subject to the foregoing, Executive shall receive severance payments in an amount equal to two times Executive’s annual Base Salary at the rate in effect at the time of Executive’s termination plus two times
Executive’s annual incentive bonus paid out at the target rate, as in effect at the time of Executive’s termination, irrespective of actual performance against any applicable bonus metrics at the time of Executive’s termination (the
“Severance”). $643,750 of the Severance shall be paid in accordance with the Company’s normal payroll practices over the 12-month period following Executive’s termination of employment. The remainder of the Severance shall
be paid in a lump sum 60 days after Executive’s termination of employment. 

  

	 	3.	Section 2.1(b)(ii) is amended by replacing the words “During the Severance Period” with “Subject to the foregoing, during the 24-month period following Executive’s termination of employment (the
“Severance Period”)”. 

 Except as otherwise set forth in this Amendment, the Agreement shall remain unchanged and shall
continue in full force and effect. 

  
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 Exhibit 10.1 

IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Amendment as of the Amendment Effective Date. 

 

					
	NxStage Medical, Inc.	  		  	Executive
			
	 /s/ JOSEPH E. TURK, JR.
	  		  	 /s/ JEFFREY H. BURBANK

	By: Joseph E. Turk, Jr.	  		  	Jeffrey H. Burbank
	Title: President