Document:

EX-10.1

 Exhibit 10.1 
  

 
 January 5, 2016 
 Ross
Weiner 
 17 Bruce Lane 
 East Northport, NY 11731 

Dear Ross, 
 On behalf of Multi Packaging Solutions, I am
pleased to offer you the position of VP Finance/Chief Accounting Officer for Multi Packaging Solutions International. This position will be located in our Hicksville, NY, facility, with the understanding that your presence in NYC will be on an as
needed basis. As discussed, in this position your starting compensation will be $265,000 annually. In this role, you will report to William Hogan, Executive Vice President and Chief Financial Officer. 

Paychecks will be issued the 15th and the last day of the month. This position is a salaried, exempt position. 

Your hire date is to be determined at this point, but is contingent upon: 
  

	1)	your passing a pre-employment drug screen and background check 

  

	2)	your providing proof of eligibility to work in the United States (completed I-9 form) 

 VACATION:
You will be eligible to accrue 160 hours of vacation in calendar 2016 which will be available for your use following 90 days of employment. Vacation is never carried over year to year. 

ANNUAL BONUS ELIGIBILITY: Bonuses are based on company performance as well as the achievement of individual performance objectives. Bonuses are
calculated on a fiscal year basis. For FY16, your bonus target eligibility will be pro-rated based on your date of hire. 
  

	•	 	This position is currently eligible for a discretionary annual cash bonus of up to 30% of base salary. 

  

	•	 	This position is currently eligible for a discretionary annual bonus of Restricted Stock Units (RSU) targeted at $60,000 (number of units to be determined as of the date of approval by the Compensation Committee of the
Board of Directors and calculated based upon the fair value per share as of that date). 

 SIGN ON BONUSES: 

 

	•	 	$30,000 (less any applicable withholdings) payable on first paycheck after date of hire. 

  

	•	 	$85,000 in RSUs (number of units to be determined as of the date of approval by the Compensation Committee of the Board of Directors and calculated based upon the fair value per share as of that date).

 

 
 Page 2, Weiner Offer Letter 
  

 CAR ALLOWANCE: $600/month payable via normal payroll processing. 

MEDICAL and DENTAL INSURANCE: You will be eligible for hospitalization, medical, vision, and dental coverage provided through our designated
insurance providers. Medical and dental insurance is effective on the 31st day of employment if elected. 
 401(k): You will be eligible to
participate in the MPS 401(k) program on the first entry date following ninety days of service. Employees who elect to participate determine the amount they wish to invest from pre-tax earnings, and designate how this amount will be invested.
The amount of the company match is discretionary and determined annually. The present match is 50 cents for each dollar an employee contributes, up to 6% of wages. The company contribution will be vested at 25% per year (100% vested after four
years of service). 
 All new employees are subject to a 90-day introductory period during which it will be determined by both you and the Company whether
this position is a good fit for you. 
 Employment with Multi Packaging Solutions is on an at-will basis. No one in the Company can alter that relationship
except the CEO of the Company, and any such agreement or understanding must be in writing. 
 We are excited to have you join the Company. Should you have
any questions about starting with MPS, please do not hesitate to contact me. 
 Sincerely, 

 
 

 
 Lynda Group 
 VP Human
Resources, North America 
 Office: (517) 886-2344 

 

 
  

 ACKNOWLEDGEMENT FORM 

I accept the position of VP Finance/Chief Accounting Officer. 
  

							
	

	 		 	1/7/16	 	
	(Signature)	 		 	(Date)	 	

  
 

 
 Received and approved by Multi Packaging Solutions: 

 

							
	 	 		 	 	 	
	(Signature)                (Date)	 		 		 	
				
	 	 		 		 	
	(Title)	 		 		 	

 Please sign and return to Lynda.Group@multipkg.comExhibit 10.1

 

Promissory
Note

 

	$500,000	January 21, 2016

 

FOR VALUE RECEIVED,
Semler Scientific, Inc.,
a Delaware corporation (the “Borrower”), promises to pay to Chang Family Trust (“Lender”),
in lawful money of the United States of America, the principal sum of up to $500,000, or such lesser amount as will equal
the outstanding principal amount of this Note, together with interest from the date of this Promissory Note (this “Note”)
on the unpaid principal balance at a rate equal to  five percent (5%) simple interest per annum, computed
on the basis of the actual number of days elapsed and a year of 365 days.

 

All unpaid principal, together
with any then unpaid and accrued interest and other amounts payable under this Note, will be due and payable on the earlier of:
(i) the 2-year anniversary of the date of this Note or (ii) when, upon or after the occurrence of an Event of Default (as defined
below), such amounts are declared due and payable by Lender or made automatically due and payable in accordance with the terms
of this Note (the “Maturity Date”).

 

1.     Definitions.
As used in this Note, the following capitalized terms have the following meanings:

 

(a)     “Event
of Default” has the meaning given in Section 4 of this Note.

 

(b)     “Note”
has the meaning given in the introductory paragraph of this Note.

 

(c)     “Obligations”
means and include all loans, advances, debts, liabilities and obligations, howsoever arising, owed by the Borrower to Lender of
every kind and description (whether or not evidenced by any note or instrument and whether or not for the payment of money), now
existing or hereafter arising under or pursuant to the terms of this Note, including, all interest, fees, charges, expenses, attorneys’
fees and costs and accountants’ fees and costs chargeable to and payable by the Borrower under this Note, whether direct
or indirect, absolute or contingent, due or to become due, and whether or not arising after the commencement of a proceeding under
Title 11 of the United States Code (11 U. S. C. Section 101 et seq.), as amended from time to time (including post-petition
interest) and whether or not allowed or allowable as a claim in any such proceeding.

 

(d)     “Person”
means and includes an individual, a partnership, a corporation (including a business trust), a joint stock company, a limited liability
company, an unincorporated association, a joint venture or other entity or a governmental authority.

 

2.     Payments; Interest.
On the Maturity Date, the Borrower will pay all unpaid principal and interest due under this Note to Lender at such address. Payment
will be made in lawful tender of the United States.

 

3.     Prepayment.
This Note may be prepaid at any time prior to the Maturity Date without the consent of Lender and without penalty.

 

    	 	 	 

     

    

 

4.     Events of Default.
The occurrence of any of the following will constitute an “Event of Default” under this Note:

 

(a)     Failure
to Pay. The Borrower fails to pay (i) when due any principal or interest payment on the due date under this Note or (ii) any
other payment required under the terms of this Note or any other Loan Document on the date due and such payment will not have
been made within five (5) days of the Lender’s written notice to the Borrower of such failure to pay; or

 

(b)     Breaches of Covenants.
The Borrower fails to observe or perform any other covenant, obligation, condition or agreement contained in this Note and
(such failure continues for five (5) days without being cured); or

 

(c)     Voluntary Bankruptcy
or Insolvency Proceedings. The Borrower (i) applies for or consent to the appointment of a receiver, trustee, liquidator or
custodian of itself or of all or a substantial part of its property, (ii) is unable, or admits in writing its inability, to pay
its debts generally as they mature, (iii) makes a general assignment for the benefit of its or any of its creditors, (iv) is dissolved
or liquidated, (v) becomes insolvent (as such term may be defined or interpreted under any applicable statute), (vi) commences
a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under
any bankruptcy, insolvency or other similar law now or later in effect or consent to any such relief or to the appointment of or
taking possession of its property by any official in an involuntary case or other proceeding commenced against it, or (vii) takes
any action for the purpose of effecting any of the foregoing; or

 

(d)     Involuntary Bankruptcy
or Insolvency Proceedings. Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Borrower
or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization
or other relief with respect to the Borrower or the debts thereof under any bankruptcy, insolvency or other similar law now or
hereafter in effect are commenced and an order for relief entered or such proceeding is not be dismissed or discharged within 15
days of commencement.

 

5.     Rights of Lender
upon Default. Upon the occurrence or existence of any Event of Default and at any time thereafter during the continuance of
such Event of Default, the Lender may, by written notice to the Borrower, declare all outstanding Obligations payable by the Borrower
under this Note to be immediately due and payable without presentment, demand, protest or any other notice of any kind, all of
which are hereby expressly waived, anything contained in this Note to the contrary notwithstanding.

 

6.     Covenants of the
Borrower.

 

(a)  Notice of Defaults.
The Borrower will promptly provide the Lender with written notice of the occurrence of any Event of Default under this Note.

 

(b)  Additional Indebtedness.
The Borrower covenants not to incur any indebtedness in excess of $50,000 without the consent of Lender; provided, however, Lender
may not unreasonably withhold its consent.

 

    	 	-2-	 

     

    

 

(c)  Additional Documents.
The Borrower will execute such definitive documents, instruments and certificates as reasonably requested by the Lender in connection
with the issuance of this Note.

 

7.     Usury Exemption.
The lending transactions contemplated by this Agreement are exempt from the constitutional usury provisions of the California Constitution
by operation of Section 25118 of the California Corporations Code, it being expressly acknowledged by the Company that, through
its officers, it has a preexisting personal or business relationship with each lender as such terms are used in Section 25118(f)(1)
of such corporations code.

 

8.     California
Financial Code Exemption. The Company is an “operating company” within the meaning of Section 22062(b)(2) of the
California Financial Code in that (A) it primarily engages, wholly or substantially, directly or indirectly through a majority
owned subsidiary or subsidiaries, in the production or sale, or the research or development, of a product or service other than
the investment of capital, (B) it is not an individual or sole proprietorship, (C) it is not an entity with no specific business
plan or purpose and its business plan is not to engage in a merger or acquisition with an unidentified company or companies or
other entity or person, and (D) it intends to use the proceeds from the Note and securities solely for the operation of the Company’s
business and uses other than personal, family, or household purposes. The Company’s board of directors, in the exercise
of its fiduciary duties, has approved the issuance of the Note and securities issued in connection therewith based upon a reasonable
inquiry concerning the Company’s financing objectives and financial situation.

 

9.     Successors
and Assigns. The rights and obligations of the Borrower and Lender will be binding upon and benefit the successors, assigns,
heirs, administrators and transferees of the parties.

 

10.   Waiver and Amendment.
Any provision of this Note may be amended, waived or modified only upon the written consent of both the Borrower and the Lender.

 

11.   Assignment by
the Borrower. Neither this Note nor any of the rights, interests or obligations under this Note may be assigned, by operation
of law or otherwise, in whole or in part, by the Borrower without the prior written consent of the Lender.

 

12.   Notices.
All notices, requests, demands, consents, instructions or other communications required or permitted under this Note will in writing
and faxed, mailed, e-mailed or delivered to each party at the respective addresses of the parties as set forth below or at such
other address, e-mail or facsimile number as the Borrower will have furnished to the Lender in writing. All such notices and communications
will be deemed effectively given the earlier of (i) when received, (ii) when delivered personally, (iii) one business day after
being delivered by facsimile or e-mail (with receipt of appropriate confirmation), (iv) one business day after being deposited
with an overnight courier service of recognized standing or (v) four days after being deposited in the U.S. mail, first class with
postage prepaid.

 

13.   Expenses.
If action is instituted to collect this Note, the Borrower promises to pay all costs and expenses, including, without limitation,
reasonable attorneys’ fees and costs, incurred in connection with such action.

 

    	 	-3-	 

     

    

 

14.   Governing Law.
This Note and all actions arising out of or in connection with this Note will be governed by and construed in accordance with the
laws of the State of Delaware, without regard to the conflicts of law provisions of the State of Delaware, or of any other state.

 

15.   Entire Agreement.
This Note contains the entire agreement between Lender and the Borrower with regard to the subject matter hereof and comprises
the complete, final and exclusive embodiment of their agreement with regard to the subject matter hereof.

 

16.   Counterparts.
This Note may be signed in counterparts, all of which shall constitute one and the same instrument.

 

[This
Space Intentionally Left Blank]

 

    	 	-4-	 

     

    

 

The Borrower has caused
this Promissory Note to be issued as of the date first written above.

 

	 	Borrower:
	 	 
	 	Semler Scientific, Inc.
	 	 	 
	 	By:	/s/ Daniel E. Conger 

	 	Name:	Daniel E. Conger
	 	Title:	Vice-President of Finance

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