Document:

exv10w1

Exhibit 10.1

PROJET

Contrat de travail

Employment Agreement

	 	 	 

	ENTRE LES SOUSSIGNES :

	 	BETWEEN THE UNDERSIGNED:
	 
	 	 
	Vistaprint SARL,

	 	Vistaprint SARL,
	Société à responsabilité limitée, au capital
social de 1.000 euros,

	 	A limited liability company, with a
share capital of 1,000 euros,

	 
	 	 
	dont le siège social est situé 34, boulevard
Haussmann - 75009 Paris, immatriculée au RCS
de Paris sous le numéro 452 977 382.

Représentée par Monsieur Robert Keane, Gérant.

	 	whose registered office is located at
34, boulevard Haussmann - 75009 Paris,
registered with the Commercial Registry
of Paris under number 452 977 382.

Represented for the purposes hereof by
Mr. Robert Keane, Managing Director.

	 
	 	 
	Ci-après désignée « la Société »,

	 	Hereafter referred to as “the Company”,
	 
	 	 
	D’UNE PART,

	 	OF THE FIRST PART,
	 
	 	 
	ET

	 	AND
	 
	 	 
	Monsieur Ernst. J. Teunissen,

	 	Mr. Ernst. J. Teunissen,
	Demeurant 62, Domaine du Collet de Darbousson,
06560 Valbonne,

	 	Residing at 62, Domaine du Collet de
Darbousson, 06560 Valbonne,
	 
	 	 
	Ci-après dénommé « Monsieur Teunissen»,

	 	Hereafter referred to as “Mr. Teunissen”,
	 
	 	 
	D’AUTRE PART.

	 	OF THE SECOND PART.
	 
	 	 
	IL A ETE CONVENU ET ARRETE CE QUI SUIT :

	 	IT HAS BEEN AGREED AS FOLLOWS:
	 
	 	 
	La Société engage Monsieur Teunissen, qui
accepte, aux conditions générales prévues par
la Convention Collective Nationale des
Bureaux d’Etudes Techniques, Cabinets
d’Ingénieurs Conseils et Sociétés de Conseils
(« SYNTEC »), ainsi qu’aux conditions
particulières définies ci-après, sous réserve
du résultat de la visite médicale d’embauche
et l’obtention de l’autorisation de travail
appropriée.

	 	The Company hereby employs Mr.
Teunissen, who accepts, under the
general conditions provided by the
National Collective Bargaining Agreement
of Consulting Firms (also called
“SYNTEC”), and under the specific
conditions defined hereinafter, subject
to the results of the pre-hiring medical
exam and obtaining the appropriate work
permit.

	 
	 	 
	La référence à cette Convention Collective ne
l’est qu’à titre d’information et ne
constitue pas un élément contractuel du
présent contrat de travail comme le
reconnaissent les parties par la signature
des présentes.

	 	The Company and Mr. Teunissen agree that
the reference to this Collective
Bargaining Agreement is made for
information purposes only and is not
part of the employment contract.

	 
	 	 
	ARTICLE 1 - ATTRIBUTIONS DE FONCTIONS

	 	ARTICLE 1 - JOB DESCRIPTION
	 
	 	 
	Monsieur Teunissen est engagé par la Société
en qualité de Vice-président - Stratégie,
avec le statut Cadre, position 3.3,
coefficient 270.

	 	Mr. Teunissen is employed by the Company
in the capacity of Vice President -
Corporate Strategy, with Executive
status, position 3.3, coefficient 270.

	 
	 	 
	Dans le cadre des fonctions qui lui sont
confiées, Monsieur Teunissen sera notamment
chargé de mener la fonction stratégie de
l’entreprise, incluant la responsabilité
principale pour le process de stratégie

	 	In the frame of the duties assigned to
him/her, Mr. Teunissen will in
particular be in charge of leading the
corporate strategy function, including
primary responsibility for the annual strategy process with the

 

 

PROJET 

 

	 	 	 

	annuelle avec l’équipe “Global Executive”, le
“Management Board” et le “Supervisory Board”,
ainsi que prendre d’autres initiatives
stratégiques clés.

	 	Global
Executive Team, Management Board and
Supervisory Board, as well as leading
other key strategic initiatives.

	 
	 	 
	D’un point de vue opérationnel, Monsieur
Teunissen devra rendre compte de son activité
au “Chief Talent Officer” de Vistaprint.

	 	From an operational standpoint, Mr.
Teunissen shall report his activity to
Vistaprint’s Chief Talent Officer.

	 
	 	 
	Monsieur Teunissen devra exécuter ses tâches
au mieux de ses capacités et devra respecter
les politiques et procédures mises en place
par la Société, telles que régulièrement
actualisées.

	 	Mr. Teunissen shall perform his duties
to the best of his ability and shall
abide by all Company’s policies and
procedures, as amended on a regular
basis.

	 
	 	 
	ARTICLE 2 - LIBERTE D’ENGAGEMENT

	 	ARTICLE 2 - FREEDOM OF EMPLOYMENT
	 
	 	 
	Monsieur Teunissen déclare formellement
n’être lié à aucune autre entreprise, avoir
quitté son précédent employeur libre de tout
engagement et n’être actuellement soumis à
aucune clause de non-concurrence.

	 	Mr. Teunissen formally declares that he
is not bound to any other company, that
he has left his previous employer free
from all obligations and that he is not
presently subject to any non-competition
clause whatsoever.

	 
	 	 
	Toute fausse déclaration sur ce point
exposerait Monsieur Teunissen au paiement de
dommages-intérêts, notamment en application
de l’article L. 1237-3 du Code du Travail.

	 	Any false statement in this respect
would subject Mr. Teunissen to liability
for damages, in particular pursuant to
Article L. 1237-3 of the French Labor
Code.

	 
	 	 
	ARTICLE 3 - DUREE DU CONTRAT

	 	ARTICLE 3 - DURATION OF AGREEMENT
	 
	 	 
	Le présent contrat est conclu pour une durée
indéterminée à compter du 5 octobre 2009.

	 	This contract is entered into for an
indefinite duration as from October 5,
2009

	 
	 	 
	ARTICLE 4 - REMUNERATION

	 	ARTICLE 4 - REMUNERATION
	 
	 	 
	4.1     Monsieur Teunissen recevra, en
rémunération de son activité, un salaire
annuel brut de Deux Cent Mille Euros (200.000
€) qui lui sera payé en douze (12)
mensualités, par chèque bancaire ou virement
bancaire ou postal, à l’expiration de chaque
période d’un mois.

Exceptionnellement, il est
expressément convenu entre les
parties que pendant les premières
cinq (5) semaines de son emploi, à
savoir du 5 octobre au 8 novembre
inclus, le salaire mensuel de
Monsieur Teunissen sera équivalent à
40% de son salaire brut mensuel
normal afin de lui permettre de
travailler à son rythme pendant
cette période initiale de cinq (5)
semaines.

4.2     Monsieur Teunissen est également
éligible, pour l’exercice fiscal s’achevant
au 30 juin 2010, à un bonus annuel d’un
montant « cible » de Soixante Quinze Mille
(75.000) Euros bruts dont le montant sera
déterminé à 100% en fonction des résultats du
groupe Vistaprint comparés au résultat par
action (« EPS ») annuel et aux objectifs
financiers déterminés discrétionnairement par
le Conseil de Surveillance de Vistaprint N.V.
et applicables aux autres salariés de
Vistaprint. 

	 	4.1     Mr. Teunissen shall be paid, in
remuneration for his activity, an annual
gross fixed salary of Two Hundred
Thousand Euros (€ 200,000) gross, which
shall be paid to him in twelve (12)
monthly installments by bank check or
bank or postal transfer at the end of
each month.

Exceptionally, it is expressly agreed
between the parties that for the first
five (5) weeks of his employment, Mr.
Teunissen’s monthly salary will be
equivalent to 40% of his normal gross
monthly salary to take into account the
fact that he will be allowed to work at
his rhythm for that five (5) week
period.

4.2     Mr. Teunissen is also eligible for
an annual cash bonus with a target of
Seventy Five Thousand (75,000) Euros
gross for the fiscal year ended June 30,
2010, the amount of which will be based
100% on the performance and results of
the Vistaprint group of companies as
measured against annual EPS and revenue
targets determined by the Supervisory
Board of Vistaprint N.V. in its sole
discretion and applicable to other
Vistaprint employees.

2

 

PROJET 

 

	 	 	 

	
    
     Ce Bonus sera versé à Monsieur
Teunissen trimestriellement et sera
proratisé pour couvrir la partie de
l’année fiscale au cours de laquelle
Monsieur Teunissen sera employé par
la Société. 

Il est expressément convenu entre
les parties que, la possibilité de
percevoir ce bonus ne garantit pas
pour autant son versement et
Monsieur Teunissen pourrait recevoir
un montant inférieur ou supérieur au
montant « cible » selon les
performances du groupe Vistaprint
comparées à ces mesures. 

4.3     Monsieur Teunissen recevra également
un bonus exceptionnel de bienvenue d’un montant
de Vingt-Cinq Mille (25.000) Euros bruts qui
lui sera versé 60 jours après son premier
jour de travail, sous réserve qu’il soit
toujours salarié de la Société au moment de
son paiement.

4.4     L’ensemble des éléments de
rémunération susvisés fera l’objet de déductions
au titre de la part salariale des cotisations de
Sécurité Sociale, de retraite complémentaire
et de prévoyance, d’assurance chômage, ainsi
que de la C.S.G. et de la C.R.D.S.

4.5     Il est expressément convenu que
toute autre prime ou gratification éventuellement
allouée par la Société, ne fera pas partie de
la rémunération et conservera son caractère
de libéralité toujours révocable.

	 	      
   This bonus is payable on a quarterly
basis and will be pro rated to cover the
portion of the fiscal year during which
Mr. Teunissen is employed by the
Company.

It is expressly agreed between the
parties that, eligibility for this bonus
does not guarantee payment, and Mr.
Teunissen may receive more or less than
target depending upon performance of the
Vistaprint group against these metrics.

4.3     Mr. Teunissen will also receive a
one-time signing bonus of Twenty Five
Thousand (25,000) Euros gross, payable
60 days after his first day of
employment, and conditional on him being
employed at that time.

4.4     All the elements of remuneration
cited above shall be subject to
deduction of Mr. Teunissen share of
social security, supplemental
retirement, invalidity and death, and
unemployment insurance contributions,
and C.S.G. and C.R.D.S.

4.5     It is expressly agreed that any
other premium or bonus that may be
granted by the Company shall not be part
of the remuneration and shall always
remain a revocable grant.

	 
	 	 
	ARTICLE 5 - LIEU DE TRAVAIL

	 	ARTICLE 5 - PLACE OF WORK
	 
	 	 
	Le lieu de travail de Monsieur Teunissen est
fixé au siège social de la Société.

	 	Mr. Teunissen’s place of work shall be
set at the registered office.

	 
	 	 
	Toutefois, il est expressément convenu et
accepté que ce lieu de travail pourra être
modifié et transféré en tout autre lieu en
France (métropole et départements
d’outre-mer).

	 	However, it is expressly understood and
agreed that this place of work may be
modified and transferred to any other
place in France (mainland and overseas
departments).

	 
	 	 
	Par ailleurs, il est expressément convenu et
accepté que Monsieur Teunissen sera amené à
effectuer, au titre des fonctions qui lui
sont confiées par la Société, de fréquents
déplacements tant en France qu’à l’étranger.

	 	In addition, it is expressly understood
and agreed that Mr. Teunissen will have
to realize, in the framework of the
duties assigned to him, frequent travels
in France and abroad.

3

 

PROJET 

 

	 	 	 

	ARTICLE 6  -  TEMPS DE TRAVAIL 

	 	ARTICLE 6  -  WORKING TIME
	 
	 	 
	Il est expressément convenu et accepté que la
rémunération de Monsieur Teunissen visée à
l’article 4 ci-dessus, qui a été déterminée en
considération de la nature spécifique des
fonctions et de l’importance des
responsabilités confiées à Monsieur Teunissen,
restera indépendante du temps que ce dernier,
qui dispose de la plus grande autonomie dans
l’organisation de son temps de travail,
consacrera de fait à l’exercice de celles-ci.

Au regard tant de sa rémunération que de
l’importance de ses responsabilités, Monsieur
Teunissen entre dans la catégorie des “Cadres
dirigeants” au sens de l’article
L. 3111-2 du Code du travail et ne sera donc
pas soumis à l’essentiel de la réglementation
sur la durée du travail.

	 	It is expressly understood and
agreed that Mr. Teunissen
remuneration, as defined in Article
4 above, which was agreed upon in
light of both the special nature of
the functions assigned to him and
the importance of his
responsibilities, will remain
independent of the time that Mr.
Teunissen, who benefits from the
largest autonomy in the
organization of his work time, will
devote to the performance of his
functions.

In light of both his remuneration
and the importance of his
responsibilities, Mr. Teunissen
shall be considered as a managing
executive (“cadre dirigeant”) in
accordance with the provisions of
article L. 3111-2 of the French
Labor code and therefore he will
not be governed by most of the
mandatory provisions on working
hours.

	 
	 	 
	ARTICLE 7  -  FRAIS PROFESSIONNELS

	 	ARTICLE 7  -  BUSINESS EXPENSES
	 
	 	 
	Les dépenses de voyage, frais d’hôtels, etc.,
ainsi que toutes les dépenses d’ordre
professionnel seront remboursées à Monsieur
Teunissen conformément à la politique de
remboursement de frais en vigueur dans la
Société au moment de l’engagement des dépenses.
Le remboursement se fera au moins une fois par
mois sur présentation d’une note de frais
accompagnée des documents justificatifs.

	 	Travel expenses, hotel expenses,
etc., as well as all other
professional expenses shall be
reimbursed to Mr. Teunissen, in
conformity with the Company’s
expense reimbursement policy in
force at the time the expenses have
been made. The reimbursement of
such expenses shall be made at
least once per month, following
submission of an expense report
substantiated by receipts.

	 
	 	 
	ARTICLE 8  -  FRAIS DE SCOLARITE ET D’
INSTALLATION

	 	ARTICLE 8  -  EDUCATION FEE SUPPORT
AND RELOCATION EXPENSES
	 
	 	 
	Monsieur Teunissen recevra une allocation
annuelle d’un montant de Trente Mille (30.000)
Euros bruts, qui sera assujettie aux charges
sociales. Cette allocation est destinée à
participer aux frais de scolarité de ses
enfants jusqu’à leurs études supérieures (non
incluses) et sera versée à Monsieur Teunissen
mensuellement. Le versement de cette allocation
est conditionné au fait que les enfants de
Monsieur Teunissen suivent leur scolarité dans
une école privée en France. 

Monsieur Teunissen recevra également
exceptionnellement une somme de Vingt-Mille
(20.000) Euros bruts qui lui sera versée en une
fois afin de couvrir les frais d’inscription de
ses enfants dans une école privée à Paris. Ce
versement est conditionné à l’inscription des
enfants de Monsieur Teunissen dans une école
privée à Paris.

	 	Mr. Teunissen will receive an
annual stipend of Thirty Thousand
(30,000) Euros gross, subject to
statutory social charges. This
stipend is towards the education
fees for Mr. Teunissen’s children
up to (not including) college, and
will be paid on a monthly basis.
Such allowance is conditional upon
Mr. Teunissen’s children continuing
to attend private school in France.

Mr. Teunissen will also receive a
one-time payment of Twenty Thousand
(20,000) Euros gross towards the
one-time registration fee to enroll
his children at a private school in
Paris. This payment is conditional
upon him enrolling his children in
a private school in Paris.

	 
	 	 
	Monsieur Teunissen recevra également une somme
forfaitaire de Trente Mille (30.000) Euros
bruts destinée à couvrir l’ensemble des frais
que Monsieur Teunissen sera amené à exposer
afin de s’installer à Paris avec son épouse et
ses enfants, à savoir notamment, les frais
correspondant à un voyage aller-retour dans le
cadre de ses recherches d’un logement à Paris,
le voyage pour lui, son épouse et ses enfants à
Paris, les frais de déménagement, etc.

	 	Mr. Teunissen will also receive a
lump-sum payment equal to Thirty
Thousand (30,000) Euros gross for
all the relocation expenses to
Paris that he will incur for him,
his spouse and his children, i.e.,
in particular his transportation
back and forth looking for housing,
moving his family up to Paris,
movement of his household goods,
etc.

4

 

PROJET

 

	 	 	 

	ARTICLE 9  -  CONGES PAYES

	 	ARTICLE 9  -  PAID VACATION

	 
	 	 

	Monsieur Teunissen bénéficiera des congés payés prévus
par la loi, dont l’époque sera déterminée par accord avec
la Direction, compte tenu des nécessités du service.

Les congés acquis au titre d’une année de référence ne
pourront être pris ou reportés au-delà du terme de l’année
de référence suivante, sauf accord écrit de la Société.

	 	Mr. Teunissen shall be entitled to paid vacation as
provided by law, the period of which shall be determined
by agreement with the Management, taking business
requirements into account.

All earned and accrued vacation shall be taken no later
than the year following the reference year in which it is
accrued, except with the Company’s written permission.

	 
	 	 

	ARTICLE 10  -  MALADIE

	 	 ARTICLE 10  -  SICKNESS

	 
	 	 

	En cas d’incapacité de travail par suite de maladie ou
d’accident, Monsieur Teunissen devra avertir la Société
dès le début du premier jour ouvrable de son incapacité.
En outre, Monsieur Teunissen sera tenu de justifier celle-
ci en adressant ou en faisant remettre un certificat
médical à la Société au plus tard dans les 48 heures de
son absence.

	 	In case of incapacity to work due to sickness or accident,
Mr. Teunissen shall advise the Company as of the first
working day of absence. In addition, Mr. Teunissen shall
be obliged to justify his incapacity by submitting a
medical certificate to the Company, at the latest within
48 hours of his absence.

	 
	 	 

	ARTICLE 11  -  CLAUSE DE NON-CONCURRENCE

	 	ARTICLE 11  -  NON COMPETITION

	 
	 	 

	Au cas où le présent contrat viendrait à être rompu par
l’une ou l’autre des parties, pour quelque cause que ce
soit, Monsieur Teunissen s’interdit expressément d’entrer
au service d’une entreprise fabriquant ou vendant des
produits ou services susceptibles de concurrencer ceux de
la Société, de créer en France pour son propre compte
une entreprise du même genre ou d’y participer
directement ou indirectement, en quelque qualité que ce
soit.

	 	In the event this agreement is terminated by either of the
parties, for any reason whatsoever, Mr. Teunissen
expressly undertakes not to enter the service of another
firm manufacturing or selling products or services that
could compete with those of the Company, to create in
France for himself a firm of the same type or to
participate directly or indirectly therein in any capacity.

	 
	 	 

	A ce titre, Monsieur Teunissen s’interdit notamment,
s’agissant de tout produit ou service susceptible de
concurrencer les produits ou services de la Société, de
prospecter la clientèle de la Société et de traiter avec
toute personne physique ou morale qui aura été le client
de la Société et avec lequel Monsieur Teunissen aura été
en relation pendant les 12 mois précédant son départ
effectif de la Société.

	 	For this purpose, Mr. Teunissen undertakes, in particular,
for any product or service that might compete with the
Company’s products or services, not to visit or contact
the Company’s clients or to deal with any individual or
company that was a client of the Company and with
whom Mr. Teunissen was in contact at any time during
the 12 months preceding his actual departure from the
Company.

	 
	 	 

	Pour les besoins de la présente, les produits ou services
suivants sont considérés comme susceptibles de
concurrencer ceux de la Société : marketing personnalisé,
services, produits promotionnels et d’identité pour les
petites affaires et consommateurs, tels que les cartes de
visite, cartes postales, brochures, signes et bannières,
accueil de site Internet, services d’emails, vêtements,
calendriers, albums photos, invitations et services de
design créatif.

	 	For the purposes hereof, the following products or
services are considered as those which may compete with
those of the Company: customized marketing,
promotional and identity products and services for small
businesses and consumers, such as business cards, post
cards, brochures, signs and banners, website hosting and
email services, clothing and apparel, calendars, photo
books, invitations and creative design services.

	 
	 	 

	Il est expressément convenu que l’exécution de la
présente clause est limitée à une période d’un (1) an à
compter de la date du départ effectif de Monsieur
Teunissen de la Société, cette période pouvant être
renouvelée une fois par la Société, et au secteur
géographique suivant: France.

	 	It is expressly agreed that this clause is limited to a
period of one (1) year as from the date of the
Mr. Teunissen’s actual departure from the Company, this
period being renewable once by the Company, and to the
following geographic sector: France.

5

 

PROJET

 

	 	 	 

	Pendant toute cette période de non-concurrence, la
Société versera à Monsieur Teunissen une indemnité
mensuelle brute égale à 1/3 de son salaire brut mensuel
de base, étant entendu que cette indemnité sera assujettie
aux contributions sociales.

	 	During this period of non-competition, Mr. Teunissen
will receive a monthly gross indemnity corresponding to
1/3rd of his gross base monthly salary, it being
understood that this indemnity will be subject to social
security contributions

	 
	 	 

	Il est entendu qu’en toutes circonstances, la Société aura
la possibilité soit de réduire la durée de la période
d’application de la clause de non-concurrence, soit de
renoncer à cette dernière, à condition toutefois d’en
informer Monsieur Teunissen par lettre recommandée
avec accusé de réception dans les quinze (15) jours
suivant la notification de la rupture du contrat de travail.

	 	It is agreed that, in any case, the Company shall be
entitled to reduce the duration of the period of
application of this non-competition clause, or to waive
this clause, provided however that it informs
Mr. Teunissen thereof by registered letter with return
receipt requested within the fifteen (15) days following
the notification of the termination of the employment
agreement.

	 
	 	 

	Compte tenu de l’extrême sensibilité des connaissances
et informations techniques et commerciales auxquelles
Monsieur Teunissen a accès dans l’exercice de ses
fonctions dans le cadre du présent contrat, et de la nature
excessivement concurrentielle et sensible des activités de
la Société, les parties conviennent expressément de la
nécessité d’une clause de non-concurrence pour protéger
les intérêts légitimes de la Société. En outre, Monsieur
Teunissen reconnaît que, compte tenu de sa formation,
cette clause ne porte pas atteinte à sa capacité à retrouver
un nouvel emploi.

	 	Given the extreme sensitiveness of the know-how and
technical and commercial information to which
Mr. Teunissen has access in the framework of his
functions and the extremely competitive nature of the
Company’s activities, the parties expressly agree on the
necessity of this non-compete obligation in order to
protect the Company’s legitimate interests. Moreover,
Mr. Teunissen understands that, in light of his training,
this provision does not hinder his capacity to find a new
position.

	 
	 	 

	ARTICLE 12 - EXCLUSIVITE

	 	ARTICLE 12 - EXCLUSIVITY

	 
	 	 

	Monsieur Teunissen s’engage à consacrer tout son temps
de travail et tous ses efforts au profit exclusif de la
Société, et ne pourra donc exercer une autre activité
professionnelle pendant la durée du présent contrat, sauf
accord préalable exprès et écrit d’un représentant légal de
la Société.

	 	Mr. Teunissen undertakes to devote all his work time and
effort for the exclusive benefit of the Company and he
may therefore not exercise any other professional activity
throughout the duration of this contract without the prior
written express approval of a legal representative of the
Company.

	 
	 	 

	ARTICLE 13 - CONFIDENTIALITE

	 	ARTICLE
13 - CONFIDENTIALITY

	 
	 	 

	Monsieur Teunissen ne pourra, ni pendant la durée de
son emploi, ni postérieurement à la rupture de son contrat
de travail, donner, procurer ou fournir, de quelque
manière que ce soit, à une personne, firme, association ou
société, le nom ou l’adresse de l’un quelconque des
clients de la Société, ainsi que tout secret de la profession
ou tout renseignement confidentiel concernant les
activités de la Société, ses clients ou les membres de son
personnel, sauf avec l’autorisation écrite d’un représentant
de la Société.

	 	Mr. Teunissen shall not, directly or indirectly, either
during the period of his employment or after the
termination of his employment contract, give, procure or
supply, in any manner whatsoever, to any person, firm,
association or company, the name or address of any
client of the Company, or any trade secret or confidential
information concerning the business of the Company, its
customers, and its personnel, except with the written
authorization of a representative of the Company.

	 
	 	 

	ARTICLE 14 - NON-SOLLICITATION

	 	ARTICLE
14 - NON-SOLICITATION UNDERTAKING

	 
	 	 

	Monsieur Teunissen s’interdit, pendant une période d’un
(1) an à compter de la date de son départ effectif de la

	 	Mr. Teunissen undertakes, for a period of one (1) year as
from the date of his actual departure from the Company:

	Société :
	 	 

	 
	 	 

	-     de proposer un emploi à toute personne qui
était, au moment de ce départ effectif ou au
cours des six (6) mois précédents, un salarié
de la Société, ou de tenter, par quelque moyen

	 	-     not to propose to any person who was, at the
time of Mr. Teunissen actual departure or during
the six (6) months preceding his departure, an
employee of the Company, or to attempt by any

6

 

PROJET

 

	 	 	 

	que ce soit, directement ou indirectement, de
persuader ou d’inciter cette personne à
accepter un autre emploi ou à quitter la
Société ;

	 	means, directly or indirectly, to persuade or
incite this person to accept another employment
or to leave the Company;

	-     d’embaucher, ou de faire embaucher par un
tiers avec qui Monsieur Teunissen est en
relations d’affaires, toute personne qui était, au
moment de ce départ effectif ou au cours des
six (6) mois précédents, un salarié de la
Société.

	 	-     not to hire any person who was an employee of
the Company, at the time of Mr. Teunissen
actual departure or during the six (6) mois
preceding this departure, or to have him/her
hired by a third party with whom Mr. Teunissen
has business relations.

	 
	 	 

	ARTICLE 15 - CLAUSE PENALE

	 	ARTICLE
15 - PENALTY CLAUSE

	 
	 	 

	Toute infraction aux interdictions stipulées aux articles
11 (non-concurrence), 12 (exclusivité), 13
(confidentialité) et 14 (non-sollicitation) ci-dessus sera
sanctionnée par le paiement d’une indemnité au moins
égale aux rémunérations perçues par Monsieur Teunissen
pendant les six (6) derniers mois de l’existence du présent
contrat, la Société se réservant le droit de prouver un
préjudice supérieur et d’obtenir cessation du trouble et
réparation par toutes voies et moyens de droit.

	 	Any violation of the provisions stipulated in articles 11
(non-competition), 12 (exclusivity), 13 (confidentiality)
and 14 (non-solicitation) above shall be sanctioned by the
payment of an indemnity at least equal to the
remuneration received by Mr. Teunissen during the last
six (6) months of the existence of this contract, although
the Company reserves the right to prove a greater
prejudice and to obtain the cessation of the violation and
due compensation by all legal means.

	 
	 	 

	ARTICLE 16 - PROPRIETE INTELLECTUELLE

	 	ARTICLE
16 - INTELLECTUAL PROPERTY

	 
	 	 

	(i)    Inventions :

	 	(i)    Inventions:

	 
	 	 

	Conformément aux dispositions de l’article L. 611-7 du
Code de la Propriété Intellectuelle, Monsieur Teunissen
reconnaît que sont de plein droit la propriété de la
Société toutes les inventions faites dans le cadre d’un
contrat de travail stipulant une « mission inventive » qui
correspond aux fonctions réelles de
Monsieur Teunissen, ou dans le cadre d’études ou de
recherches qui lui ont été spécifiquement confiées
(« Invention de Mission »).

	 	In accordance with the provisions of article L. 611-7 of
the Intellectual Property Code, Mr. Teunissen
acknowledges that the inventions made within the
context of an employment contract which provides for an
“inventive mission” which corresponds to
Mr. Teunissen’s actual duties, or, as part of studies or
research which have been specifically entrusted to
Mr. Teunissen, belong to the Company as of right
(“Inventions of Mission”).

	 
	 	 

	Conformément à l’article L. 611-7 du Code de la
Propriété Intellectuelle qui stipule que le salarié auteur
d’une Invention de Mission bénéficie d’une rémunération
supplémentaire, Monsieur Teunissen reconnaît que la
rémunération supplémentaire éventuellement versée, sera
calculée comme suit.

	 	In accordance with the provisions of article L. 611-7 of
the Intellectual Property Code, which provides that the
employee is entitled to receive an additional
remuneration for the Inventions of Mission,
Mr. Teunissen agrees that such additional remuneration,
if any, will be determined in the following manner.

	 
	 	 

	La Société versera à Monsieur Teunissen une
rémunération supplémentaire uniquement dans la mesure
où Monsieur Teunissen aurait contribué personnellement
à la mise au point d’une Invention de Mission. Cette
rémunération supplémentaire sera déterminée par la
Société.

	 	The Company will pay Mr. Teunissen an additional
remuneration only to the extent Mr. Teunissen personally
contributed to the inventive process which led to the
perfection of the Invention of Mission. Such additional
remuneration shall be determined by the Company.

	 
	 	 

	Monsieur Teunissen reconnaît également que pour toutes
les autres inventions faites (i) dans l’exécution de ses
fonctions, (ii) dans le domaine d’activité de la Société ou
(iii) en utilisant un savoir, des technologies ou des
moyens propres à la Société, ou des informations
procurées par elle, la Société est en droit de se faire
attribuer la propriété du brevet protégeant l’invention ou
peut décider d’obtenir une licence sur tout ou partie des

	 	Mr. Teunissen further acknowledges that for all the other
inventions created either (i) in the performance of
Mr. Teunissen duties, (ii) in the field of activity of the
Company, or (iii) by using knowledge or technologies or
specific methods of the Company or information
acquired by the Company, the Company is entitled to
have assigned the ownership of the patent protecting the
invention or can decide to obtain a license to all or parts

7

 

PROJET 

 

	 	 	 

	droits attachés au brevet protégeant l’invention.

	 	of the rights in the patent protecting the invention.

	 
	 	 

	Conformément aux dispositions des articles R. 611-1
et suivants du Code de la Propriété Intellectuelle,
Monsieur Teunissen s’engage à informer rapidement la
Société de toute invention réalisée pendant son
contrat de travail.

	 	In accordance with the provisions of articles R.
611-1 and seq. of the Intellectual Property Code,
Mr. Teunissen must promptly inform the Company of
any invention made during Mr. Teunissen’s employment
contract.

	 
	 	 

	(ii)    Droit d’auteur :

	 	(ii)    Author’s rights:

	 
	 	 

	Monsieur Teunissen s’engage à informer la Société,
rapidement, dans le détail et par écrit, de toute
œuvre qu’il pourrait créer seul ou avec d’autres
auteurs dans le cadre de son contrat de travail, et
notamment les dessins, marques, logos, croquis,
modèles, maquettes, articles, études, rapports, et
documents (ci-après les “Œuvres”).

	 	Mr. Teunissen undertakes to disclose to the Company
promptly, fully and in writing, any work that Mr.
Teunissen may solely or jointly create, in the
performance of Mr. Teunissen’s employment contract,
and notably (but without limitation) drawings,
trademarks, logos, sketches, models, designs,
articles, studies, reports, documentation (hereafter
the “Works”).

	 
	 	 

	Les Œuvres sont des “Œuvres collectives”, propriété
de la Société car elles sont créés à l’initiative de
la Société, sous sa direction et son nom.

	 	The Works qualify as “Collective work” owned by the
Company as they are created at the initiative of the
Company, under its direction and name.

	 
	 	 

	Si cela s’avère nécessaire pour la titularité des
Œuvres par la Société, Monsieur Teunissen cède à la
Société ou à son mandataire, en contrepartie d’une
somme incluse dans son salaire ses droits de
reproduction sur tout support analogique ou
numérique, sous toutes formes et tous formats (connus
à la date de signature du présent contrat ou
découverts ultérieurement), de représentation par
tous procédés (connus à la date de signature du
présent contrat ou découverts ultérieurement), de
distribution, de location, de prêt et de vente, ainsi
que d’adaptation de ces Œuvres. Les supports et
procédés incluent notamment tout moyen de
communication, direct ou indirect, spatial ou
terrestre, par satellite, par câblage ou par voie
hertzienne, et tout réseau avec ou sans fil, dont
notamment sur Internet.

	 	For the avoidance of doubt regarding the ownership
of the Works by the Company, Mr. Teunissen hereby
assigns to the Company, or its designee, in
consideration of a sum already included in Mr.
Teunissen’s salary, Mr. Teunissen’s rights of
reproduction on any analogical or digital media, in
any forms and formats (whether known at the
execution date of this Agreement or to be discovered
in the future), of communication to the public by
any processes (whether known at the execution date
of this Agreement or to be discovered in the
future), of distribution, rental, loan and sale, and
of adaptation on these Works. Media and processes
shall include without limitation, any means of
communication, direct or indirect, spatial or
terrestrial, by satellite, cable, or over the air
and any wired or wireless network including the
Internet.

	 
	 	 

	Cette cession intervient au fur et à mesure de la
création des œuvres et vaut pour le monde entier et
pour la durée des droits d’auteur, y compris toute
prorogation légale, quelle qu’en soit la raison.

	 	This assignment occurs as soon as the Works are
created and is valid for the entire world and for
the duration of the author’s rights, including any
legal prorogation for whatever reason.

	 
	 	 

	(iii)    Logiciels :

	 	(iii)    Software:

	 
	 	 

	Monsieur Teunissen s’engage à informer la Société,
rapidement, dans le détail et par écrit, de tout
logiciel qu’il pourrait créer, seul ou avec d’autres
auteurs, dans le cadre de son contrat de travail.

	 	Mr. Teunissen undertakes to disclose to the Company
promptly, fully and in writing, any software
program, that Mr. Teunissen may solely or jointly
create, in the performance of Mr. Teunissen’s
employment contract.

	Monsieur Teunissen reconnaît que les droits d’auteurs
sur les logiciels sont dévolus de plein droit à la
Société, conformément à l’article L. 113-9 du Code de
la Propriété Intellectuelle.

	 	Mr. Teunissen acknowledges that the author’s rights
to software programs belong as a matter of law to
the Company, pursuant to Article L. 113-9 of the
Intellectual Property Code.

8

 

PROJET 

 

	 	 	 

	(iv)    Savoir-faire :

	 	(iv)    Know-how:

	 
	 	 

	Monsieur Teunissen s’engage à faire
connaître rapidement à la Société
tout savoir-faire, y compris
notamment toutes innovations
techniques, découvertes,
inventions, modèles, formules,
tests, données, procédés, méthodes
de production, améliorations,
qu’ils soient ou non brevetables,
protégeables par le droit d’auteur
ou le droit des marques.

	 	Mr. Teunissen agrees to disclose
promptly to the Company any
know-how, including without
limitation technical innovations,
discoveries, inventions, designs,
formulae, tests, performance data,
processes, production methods,
improvements and the like, whether
patentable, copyrightable, or
subject to trademark.

	 
	 	 

	Monsieur Teunissen reconnaît que ce
savoir-faire sera la propriété
exclusive de la Société et
constitue une information
confidentielle couverte par
l’obligation de confidentialité à
laquelle il est soumis dans le
cadre du présent contrat.

	 	Mr. Teunissen agrees that this
know-how shall be owned exclusively
by the Company and is considered
confidential information covered by
Mr. Teunissen confidentiality
obligation set forth in this
Agreement.

	 
	 	 

	(v)   Engagement complémentaire

	 	(v)    Additional undertakings

	 
	 	 

	Monsieur Teunissen s’engage
également à signer tous documents
et à prendre tous les actes
complémentaires demandés par la
Société afin de donner son plein
effet à cette cession, pendant ou
après l’emploi de Monsieur
Teunissen et, en particulier, à
conclure un contrat de cession
spécifique pour chaque œuvre, dès
sa création.

	 	Mr. Teunissen further undertakes to
execute all documents and take all
additional actions as may be
requested by the Company to give
full and proper effect to such
assignment, whether during or after
the term of Mr. Teunissen’s
employment, and particularly to
enter into a specific assignment
agreement for each work, as soon as
such work is created.

	 
	 	 

	ARTICLE 17 - RESILIATION DU
CONTRAT 

	 	ARTICLE 17 - TERMINATION OF CONTRACT

	 
	 	 

	En cas de résiliation ou de
suspension du présent contrat pour
quelque raison que ce soit
(démission, licenciement, départ en
retraite, congé-maladie, etc.),
Monsieur Teunissen remettra à la
Société, lors de son départ de la
Société, tout document ou matériel
appartenant à la Société.

	 	In case of termination or suspension
of this contract for whatsoever
reason (resignation, dismissal,
retirement, sick leave, etc.), Mr.
Teunissen shall return to the
Company upon his leaving the Company
any documents or equipment belonging
to the Company.

	 
	 	 

	ARTICLE 18 - LOI APPLICABLE -
TRIBUNAUX COMPETENTS

	 	ARTICLE 18 - GOVERNING LAW -
COMPETENT COURTS

	 
	 	 

	Le présent contrat est soumis à la
loi française, tant pour son
exécution que pour sa résiliation,
et tout litige s’y rapportant sera
de la compétence exclusive des
tribunaux français.

	 	This contract is governed by French
law, both with respect to its
performance and its termination. Any
dispute relating hereto shall be
subject to the exclusive
jurisdiction of the French courts.

9

 

PROJET 

 

	 	 	 

	ARTICLE 19 - LANGUE

	 	ARTICLE 19 - LANGUAGE

	 
	 	 

	La version définitive du présent
contrat qui lie les parties est la
version française, la version
anglaise de ce contrat n’étant
fournie qu’à titre d’information.
En cas de contradiction entre les
versions française et anglaise, la
version française prévaudra.

	 	The definitive version of this
Agreement that binds the parties is
the French language version, the
English version being provided for
information purposes only. In the
event of a contradiction between the
two versions, the French version
shall prevail.

	 
	 	 

	ARTICLE 20 - ACCORDS ANTERIEURS

	 	ARTICLE 20 - PREVIOUS AGREEMENTS

	 
	 	 

	Le présent contrat annule et
remplace les dispositions écrites
ou verbales antérieures figurant
dans tous contrats ou engagements
conclus entre les Parties ou entre
la Salariée et toute autre société
du même groupe.

	 	This contract invalidates and
replaces any previous, written or
verbal, contracts and undertakings
existing between the Parties or
between the Employee and any other
company within the same group.

	 	 	 	 

	En double exemplaire1 / Signed in duplicate2

	Fait à / In Paris,
	 
	 

	 	Le / On 7 December 2009.
	 
	 
	 	 
	 
	Lu et apprové, bon pour accord

	 	Lu et apprové, bon pour accord
	 
	 
	 	 
	 
	 
	 	 
	 
	 

	 	 
	 
	/s/Robert Keane

	 	/s/Ernst J. Teunissen
	 
	 

	 	 	 
	Pour la Société / For the Company,

	 	Ernst J. Teunissen
	 
	Robert Keane, Gérant
	 	 
	 

 

 

			
	1	 	Chaque page doit être paraphée et les
signatures ci-dessus doivent être précédées de la mention manuscrite suivante :
	 
	«	 	Lu et approuvé, bon pour accord ».
	 
	2	 	Each page must be initialized and on the last
page the above signatures must be preceded by the following handwritten words:

	“read and approved, valid for an employment contract”.

10exv10w1

Exhibit 10.1

EMPLOYMENT AGREEMENT

     This Employment Agreement (this “Agreement’) is entered into as of the Effective Date set
forth on Schedule A hereto, by and between athenahealth, Inc. (“Athena”) and the undersigned
Employee (“Employee”).

     The parties agree as follows:

1. Employment; Term

     a. Athena hereby employs Employee, and Employee accepts employment with Athena, upon the terms
and conditions contained in this Agreement.

     b. Employee’s employment is at-will and for no definite period of time and either Employee or
Athena may terminate Employee’s employment at any time with or without reason and with or without
advance notice subject to the terms of Schedule B attached hereto (the terms of which are
incorporated herein by reference). Upon termination of employment and subject to the terms of
Schedule B attached hereto, Employee will be entitled to receive any accrued but unpaid portion of
Employee’s base salary through the date of termination, any accrued but unused paid time off,
outstanding expenses reimbursable under Athena’s then-applicable policies, any bonus compensation
that has been earned by Employee (pursuant to the terms of Schedule A attached hereto) but is
unpaid as of the date his employment is terminated, and any other benefits that may be owing
through the date of termination. Upon and following termination, Athena will have no liability or
obligation to Employee other than as specifically set forth (i) in this Section 1(b), (ii) in
Schedule B attached hereto, (iii) in any equity grant or award document, agreement or contract of
whatever name or kind between Employee and Athena (including, without limitation, the Restricted
Unit Agreement and Non-Qualified Stock Option Agreement each dated on or about the date hereof),
and/or (iv) as provided by law.

     c. Upon Athena’s request or the termination of Employee’s employment, Employee will
immediately return to Athena all (i) documents, materials, records, files, notes, designs,
drawings, notebooks, data, databases, and other information, in any media, related to Athena’s
business, including all copies; (ii) Athena property (whether owned or leased) in Employee’s
possession or control (including, but not limited to, badges, computer hardware, data storage
devices, manuals, programs, printers, faxes, telephones, calling or credit cards, supplies, tools,
and vehicles); and (iii) documents and other media containing any Confidential Information (as
defined in Section 5). At such time, Employee shall also destroy any Confidential Information in
Employee’s possession or control that cannot be returned to Athena (e.g., information that is in an
electronic or magnetic format and not on equipment or media owned by Athena).

     d. Sections 5 through 11 of this Agreement and the terms of Schedule B attached hereto will
remain in effect following termination of Employee’s employment with Athena.

2. Duties

     a. During the period that Employee is employed by Athena (the “Employment Period”), Employee
will: (i) serve as President, Enterprise Services or in any other executive (“executive” meaning
SVP cohort or above) position that Athena may from time to time assign to Employee; (ii) perform
all duties normally associated with each such executive position as well as such other comparable
duties as Athena may from time to time assign to Employee, in a timely and professional manner and
in accordance with Athena’s reasonable instructions; (iii) devote substantially all of his business
time and effort to the performance of his duties; and (iv) comply with Athena’s policies and
procedures as in effect from time to time (including, but not limited to, those relating to conduct
or legal compliance); provided that, Employee may (A) manage his personal investments, (B) engage
in or serve civic, community, charitable, educational, or religious organizations as he may select,
(C) serve on for-profit corporate and/or advisory boards, and (D) continue to advise entities
primarily engaged in the business of venture capital finance and/or private equity finance, even if
any such business has among its portfolio companies entities that directly or
indirectly compete
with Athena; provided that Employee will not advise such businesses with respect to those portfolio
companies that directly or

 

 

indirectly compete with Athena;
and provided further that in each case (A) through (D) so long as such activities and services
do not create a conflict of interest with, or materially interfere with the performance of, the
Employee’s duties hereunder or conflict with the Employee’s covenants under Section 7 of this
Agreement, and in the case of (C) and (D) such service by Employee is subject to prior approval by
Employee’s manager, provided that Employee’s relationships with SV Life Sciences, Bessemer Venture
Partners, and Homecare Homebase, L.P. are hereby approved.

     b. Employee warrants to Athena that, except as disclosed on Schedule A hereto, Employee is not
party to any agreement or understanding that would limit the ability of Employee to work in any
capacity or position at Athena (e.g., any non-compete, non-disclosure, or similar agreement).

3. Compensation

     a. Employee’s compensation will be as set forth in the attached Schedule A the terms of which
are incorporated herein by reference.

     b. Any grant of shares, or right to acquire shares is subject to the terms and conditions in
Athena’s equity incentive plan under which the grant is made and the applicable grant agreement
form in effect at the time of grant. Regardless of any agreement to the contrary, any grant of a
right to acquire shares of Athena shall be exercised in accordance with the terms as explicitly set
forth in Athena’s applicable equity incentive plan and agreement forms.

     c. Section 409A Deferred Compensation Tax Savings Provision and 280G

          i. Regardless of any provision of this Agreement to the contrary, to the extent that any
payment or benefit under this Agreement constitutes “non-qualified deferred compensation” under
Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), and such payment or
benefit is payable upon Employee’s termination of employment, such payment or benefit shall only be
payable upon Employee’s Separation from Service. “Separation from Service” means Employee’s
separation from service from Athena, an affiliate thereof, or a successor entity within the meaning
set forth in Section 409A, determined in accordance with the presumptions in Treasury Regulation
Section 1.409A-1(h).

          ii. Regardless of any provision of this Agreement to the contrary, if at the time of
Employee’s Separation from Service, Athena determines that Employee is a “specified employee”
within the meaning of Section 409A, then, to the extent that any payment or benefit to which
Employee becomes entitled under this Agreement on account of such Separation from Service would be
considered deferred compensation subject to the 20% additional tax imposed under clause
(a)(1)(B)(i)(II) of Section 409A, such payment or benefit shall not be payable or provided until
the earlier of (A) six months and one day after Employee’s Separation from Service or (B)
Employee’s death. Any such delayed payment shall earn interest at an annual rate equal to the
applicable federal short-term rate published by the Internal Revenue Service for the month in which
the Separation from Service occurs, from the date of Separation from Service until the payment is
made.

          iii. This Agreement shall be administered in accordance with Section 409A, and, to the extent
that any provision hereof is ambiguous as to its compliance with that Section, that provision shall
be read so that all payments hereunder comply with that Section. This Agreement may be amended at
the reasonable request of either party as necessary to fully comply with Section 409A and all
related rules and regulations in order to preserve the payments and benefits provided hereunder
without additional cost to either party.

          iv. Athena makes no representation or warranty and shall have no liability to Employee or any
other person if any provision of this Agreement is determined to constitute deferred compensation
subject to Section 409A but does not satisfy an exemption from, or the conditions of, that Section.

2

 

          v. In the event that Athena is subject to a “Change in Control” (as defined in Section 280G of
the Internal Revenue Code of 1986), then the following provisions shall apply:

          A. In the event that the amount of any compensation, payment or distribution by Athena
to or for the benefit of Employee, whether paid or payable or distributed or distributable
pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with
Section 280G of the Code and the applicable regulations thereunder (for purposes of this
subsection, the “Severance Payments”), would be subject to the excise tax imposed by Section
4999 of the Code (the “Excise Tax”), the following provisions shall apply:

          B. If the Severance Payments, reduced by the sum of (1) the Excise Tax, and (2) the
total of the Federal, state, and local income and employment taxes payable by Employee on
the amount of the Severance Payments which are in the excess of the Threshold Amount, are
greater than or equal to the Threshold Amount, the Executive shall be entitled to the full
benefits payable under this Agreement.

          C. If the Threshold Amount is less than (x) the Severance Payments, but greater than
(y) the Severance Payments reduced by the sum of (1) the Excise Tax and (2) the total of the
Federal, state, and local, income and employment taxes on the amount of the Severance
Payments which are in excess of the Threshold Amount, then the Severance Payments shall be
reduced (but not below zero) to the extent necessary so that the sum of all Severance
Payments shall not exceed the Threshold Amount. In such event, the Severance Payments shall
be reduced in the following order: (1) cash payments not subject to Section 409A of the
Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based payments and
acceleration; and (4) non-cash forms of benefits. To the extent any payment is to be made
over time (e.g., in installments, etc.), then the payments shall be reduced in reverse
chronological order.

          D. For purposes of Section 3.c.vi, “Threshold Amount” shall mean three times Employee’s
“base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations
promulgated thereunder less one dollar ($1.00); and “Excise Tax” shall mean the excise tax
imposed by Section 4999 of the Code, and any interest or penalties incurred by Employee with
respect to such excise tax. The determination as to which of the alternative provisions of
Section 3.c.vi shall apply to Employee shall be made by a nationally recognized accounting
firm selected by Athena (the “Accounting Firm”), which shall provide detailed supporting
calculations both to Athena and Employee within 15 business days following the date of
termination, if applicable, or at such earlier time as is reasonably requested by Athena or
Employee. For purposes of determining which of the alternative provisions of Section 3.c.vi
shall apply, Employee shall be deemed to pay federal income taxes at the highest marginal
rate of federal income taxation applicable to individuals for the calendar year in which the
determination is to be made, and state and local income taxes at the highest marginal rates
of individual taxation in the state and locality of the Executive’s residence on the date of
termination, net of the maximum reduction in federal income taxes which could be obtained
from deduction of such state and local taxes. Any determination by the Accounting Firm
shall be binding upon Athena and Employee.

4. Expenses; Benefits

     a. Athena shall reimburse Employee, in accordance with Athena’s policies as in effect from
time to time, for reasonable expenses incurred by Employee in connection with the performance of
Employee’s duties for Athena hereunder.

     b. Employee will be entitled to paid time off (PTO) and leave of absence in accordance with
Athena’s policies as in effect from time to time.

3

 

     c. Employee will be entitled to participate in any and all health, life, or disability
insurance plans and retirement, pension, or profit-sharing plans that may be offered by Athena,
subject to the eligibility rules of each plan. Benefits under each plan are governed solely by
that plan, and Athena may in its sole discretion modify or eliminate any plan or benefits
thereunder on a prospective basis by notice to Employee.

     d. Employee and Athena shall enter into Athena’s standard indemnification agreement for
officers and directors promptly following Employee’s commencement of employment with Athena.

5. Confidential Information

     a. “Confidential Information” means any and all information belonging to Athena, or belonging
to any third party (e.g., any of Athena’s affiliates, clients, or vendors) and held in confidence
by Athena, that: (i) is not generally known to the public, (ii) is designated or treated by Athena
or such third party as confidential, or (iii) would be reasonably understood to be of a
confidential nature for a company in Athena’s industry. Confidential Information may be in any
form and includes, but is not limited to, information consisting of or relating to: algorithms,
formulas, methods, models, processes, and work flows; specifications; know-how, show-how, and trade
secrets; Assigned Intellectual Property and Proprietary Rights (each as defined below); research
and development activities and test results; patent and trademark applications; software, source
code, and object code; contracts and arrangements; business records; customer and vendor lists and
information; marketing plans, business plans, and financial information and projections;
compensation arrangements and personnel files; tax arrangements and strategies; intercompany
arrangements; costs, price lists, and pricing policies; and any existing or proposed acquisition,
strategic alliance, or joint venture.

     b. Confidential Information shall not include information that (i) is or becomes publicly
available through no fault of Employee, (ii) is shown by written record to have been in the
possession of or known to Employee prior to the Employment Period, (iii) is shown by written record
to have been independently developed by Employee, or (iv) is made available without restriction to
Employee by a third party outside Athena and its affiliates without breach of any confidentiality
obligation. Furthermore, this Section 5 will not apply to the extent that Employee is required to
disclose any Confidential Information by applicable law or legal process, and, to the extent
legally permissible, Employee promptly notifies Athena of such requirement and cooperates with
Athena (at Athena’s expense) to contest or limit such disclosure.

     c. During the Employment Period and at all times thereafter, Employee shall use best efforts
to hold all Confidential Information in the strictest confidence, without disclosure to any third
party (even Athena’s employees, consultants, and professional advisors) except as necessary to
perform Employee’s duties hereunder or as expressly authorized in advance by Athena, and will use
such information solely for the purpose of performing services for Athena and not for Employee’s
own benefit or that of any third party. Employee shall not (i) disclose or use more than the
minimum amount of information necessary for the purpose of that disclosure or use; (ii) render any
services to any third party to which Confidential Information has been, or is threatened to be,
disclosed contrary to this Section 5; or (iii) use or disclose any information that is subject to
confidentiality restrictions placed upon it by a third party and may not be disclosed to Athena
(Athena expressly disclaims any request or requirement that Employee disclose or use any such
information).

     d. Employee recognizes and acknowledges that (i) Athena is regulated as a Covered Entity under
the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”); (ii) in the course of
employment, Employee may have access to Protected Health Information (“PHI”), as defined under
HIPAA, and other personally identifiable information (“PII”) covered by applicable privacy laws;
and (iii) PHI and PII are Confidential Information, subject to strict confidentially and security
restrictions under HIPAA, applicable Athena policies, and other applicable law.

     e. All Confidential Information and any media containing it are and shall remain the property
solely of Athena or the third party that provided such information to Athena, and Employee shall
not obtain any right, title, or interest in or to any Confidential Information under this Agreement
or by the performance of any obligations hereunder.

4

 

6. Intellectual Property

     a. Definitions

          i. “Assigned Intellectual Property” means any and all Intellectual Property that is in whole
or in part authored, conceived, created, developed, discovered, invented, learned, made,
originated, prepared, or reduced to practice by Employee, either alone or together with others,
during or after the Employment Period and (A) arises out of, is based upon, or incorporates any
Confidential Information; (B) is made through the use of equipment, facilities, supplies, funds, or
other property of Athena; or (C) arises out of or relates to work performed by Employee for
Athena.

          ii. “Intellectual Property” means all concepts, creations, developments, discoveries, ideas,
improvements, innovations, and inventions; designs, models, plans, and prototypes; methods,
procedures, processes, shop practices, and techniques; algorithms and formulas; data, databases,
and data structures; source and object codes, software, and computer programs; systems and
topologies; data, hardware, and user interfaces; reports and test results; specifications;
documentation, memoranda, notebooks, notes, papers, records, workbooks, and writings; drawings,
expressions, graphics, illustrations, and photographs; dress, marks, and names; works of
authorship; know-how, show-how, and trade secrets; and any improvements on or to, or derivative
works from, any of the foregoing, whether or not reduced to writing, patented or patentable, or
registered or registrable under copyright, trademark, or similar laws.

          iii. “Proprietary Rights” means any and all right, title, and interest in, to, and under (A)
patents, copyrights, trademarks, service marks, and trade names that constitute or relate to
Assigned Intellectual Property; (B) applications to register any of the foregoing (including, but
not limited to, any continuations, divisions, extensions, and reissues of any patent application);
(C) trade secrets that constitute or relate to Assigned Intellectual Property; and (D) goodwill
associated with any of such trademarks, service marks, or trade names.

     b. Employee hereby acknowledges and agrees that any Assigned Intellectual Property that is an
original work of authorship protectable by copyright is a “work made for hire,” as that term is
defined in the United States Copyright Act of 1976, and will be automatically the property solely
of Athena. If the copyright to such Assigned Intellectual Property will not be Athena’s property
by operation of law, Employee hereby, without further consideration, assigns to Athena all of
Employee’s right, title, and interest in and to such copyright.

     c. Employee hereby irrevocably and exclusively assigns to Athena all right, title, and
interest that Employee has, or at any time may come to have, in and to any and all Assigned
Intellectual Property and Proprietary Rights. During the Employment Period and thereafter,
Employee shall (i) keep and maintain adequate and current notes and other records of all Assigned
Intellectual Property, (ii) provide such notes and records to Athena from time to time upon
Athena’s request, and (iii) provide prompt written notice to Athena of the development or creation
of any Assigned Intellectual Property or Proprietary Right. Employee agrees to execute such
instruments of assignment, confirmation, conveyance, or transfer and other documents as Athena may
reasonably request to confirm, evidence, or perfect the assignment of all of Employee’s right,
title, and interest in and to any and all Assigned Intellectual Property and Proprietary Rights.
Employee hereby waives and quitclaims to Athena any and all claims of any nature whatsoever that
Employee may now or hereafter have in any Assigned Intellectual Property or for infringement of any
Proprietary Rights assigned hereunder.

     d. At Athena’s request and expense, Employee will assist Athena in every proper way
(including, without limitation, by executing patent applications) to obtain and enforce Proprietary
Rights in any country. Employee’s obligation under this paragraph shall continue indefinitely
after the Employment Period.

     e. By this Agreement, Employee hereby irrevocably constitutes and appoints Athena as
Employee’s attorney-in-fact solely for the purpose of executing, in Employee’s name and on
Employee’s behalf, (i) such instruments or other documents as may be necessary to evidence,
confirm, or perfect any assignment

5

 

pursuant to the provisions of this Section 6 and (ii) such applications, certificates,
instruments, or documents as may be necessary to obtain or enforce any Proprietary Rights in any
country of the world. This power of attorney is coupled with an interest on the part of Athena and
is irrevocable.

     f. Employee’s obligation to assign Assigned Intellectual Property and Proprietary Rights shall
not apply to any Prior Invention disclosed on Schedule A. Employee represents that Schedule A
contains a complete list of all Prior Inventions and, if there is no Schedule A attached hereto, or
if it is left blank, there are no Prior Inventions. If Employee incorporates into an Athena
product, service, or process a Prior Invention or any other Intellectual Property in which Employee
has an interest, or if the manufacture, use, sale, or import of any Athena product or service or
the practice of any Athena process would infringe any Prior Invention or any other Intellectual
Property in which Employee has an interest, Athena is hereby automatically granted a non-exclusive,
royalty-free, fully paid, irrevocable, transferable, perpetual, world-wide license under such Prior
Invention or other Intellectual Property to make, have made, modify, use, import, and sell such
Athena product or service or to practice such process, Prior Invention, or Intellectual Property.

7. Covenant Against Competition; Non-Solicitation

     a. Definitions

          i. “Athena’s Business” means the development, sale, support, and service of the products and
services developed or sold by Athena, or that Employee is materially involved in planning, at any
time during the Employment Period.

          ii. “Competitive Services” means, during the Employment Period, any and all services, and
thereafter, all of the following that apply, collectively:

               A. if Employee served at the Vice President level (or the equivalent) or higher at Athena at
any time during the twelve months immediately preceding the end of the Employment Period, any and
all services;

               B. if Employee served in a software or product development role at Athena at any time during
the twelve months immediately preceding the end of the Employment Period, any development,
development management, or product innovation services;

               C. if Employee served in a business development role at Athena at any time during the twelve
months immediately preceding the end of the Employment Period, any business development services;

               D. if Employee served in a sales capacity at Athena at any time during the twelve months
immediately preceding the end of the Employment Period, any sales, sales management, sales support,
or prospective client solicitation services; and

               E. in all other cases, the services provided to Athena by Employee during the twelve months
immediately preceding the end of the Employment Period.

          iii. “Geographic Area” means:

               A. if Employee is no longer with Athena and served in a sales capacity and at the Director
level (or the equivalent) or lower during the entire final year of the Employment Period (or the
entire Employment Period, if less than a year), all areas assigned to Employee as a sales territory
during that year;

               B. if Employee is no longer with Athena and served in a business development capacity and at
the Director level (or the equivalent) or lower during the entire final year of the Employment
Period (or the entire Employment Period, if less than a year), any third party with which Employee
discussed a

6

 

business relationship or transaction, or about which Employee learned Confidential
Information, during the Employment Period; and

               C. in all other cases, the United States.

          iv. “Non-Compete Period” means the Employment Period, plus a period of time immediately
thereafter equal to six months.

     b. The provisions of this Section 7 shall not apply to the extent that they are invalid under
applicable law (e.g., if Employee is a resident of the State of California, the provisions of
Section 7(d) shall not apply at any time following the Employment Period).

     c. Athena respects the confidentiality of third parties’ information, and Employee shall not
provide any information that is confidential to a former employer to Athena or use such information
in the performance of Employee’s duties as an Athena employee.

     d. During the Non-Compete Period, Employee shall not: (i) engage in any business that is
competitive in the Geographic Area with Athena’s Business; (ii) render any Competitive Services in
any capacity to any third party engaged in any business competitive in the Geographic Area with
Athena’s Business; or (iii) be a director, officer, stockholder, partner, principal, manager,
member, owner, or trustee of, or joint venturer with, any business competitive in the Geographic
Area with Athena’s Business, provided that, nothing in this Section 5 shall prohibit Employee from
(A) owning up to 2% of an entity’s equity securities that are traded on any national securities
exchange, and (B) advising, consulting with or being employed by any entity primarily engaged in
the business of venture capital finance and/or private equity finance, even if such entity has
among its portfolio companies entities that directly or indirectly compete with Athena’s Business,
provided that Employee will not advise such businesses with respect to those portfolio companies
that directly or indirectly compete with Athena.

     e. During the Non-Compete Period, Employee shall not, in the Geographic Area, directly or
indirectly, solicit or encourage any client of Athena, or any person or entity with which Employee
had contact on behalf of Athena, to purchase or use items or services competitive with Athena’s
Business.

     f. During the Non-Compete Period, Employee shall not, directly or indirectly, on behalf of
Employee or any third party, solicit or encourage any employee of Athena or any of its affiliates
to leave such employment.

8. Equitable Relief

     Employee acknowledges and agrees that the rights and obligations set forth in Sections 5, 6,
and 7 of this Agreement are of a unique and special nature, that Athena would be materially and
irreparably damaged if Employee breached any of those Sections, that monetary damages or any other
remedy at law would not adequately compensate Athena for such injury, and that the provisions of
those Sections are reasonable and necessary to preserve to Athena valuable proprietary and
confidential information that gives Athena advantage over its competitors. Accordingly, in
addition to any other rights and remedies it may have, Athena will be entitled to seek an
injunction, specific performance, or other equitable relief (without the necessity of posting any
bond or other security or proving damages) in case of any breach by Employee of Sections 5, 6, or 7
hereof.

9. Notices

     Notices and other communications required or permitted to be given under this Agreement must
be in writing and will be deemed to have been duly given (a) when personally delivered; (b) on the
third business day after deposit in the U.S. mail (certified or registered mail, return receipt
requested, postage prepaid); or (c) on the next business day after timely delivery to an overnight
courier; in each case addressed to the intended recipient at the applicable address set forth on
the signature page hereto (or such other address as the intended recipient may specify from time to
time by notice to the other party).

7

 

10. Mediation; Jurisdiction; Waiver of Jury Trial

     Except with respect to remedies and rights set forth in Section 8, any dispute or controversy
arising under or relating to this Agreement or concerning Employee’s employment with or separation
from Athena will be referred to mediation administered by JAMS in accordance with its employment
dispute resolution rules. The mediation shall be held in the state in which the office to which
Employee reports is located, and Athena shall pay the full costs thereof, excluding attorneys’
expenses and fees. If the dispute or controversy is not resolved through mediation or direct
negotiation, then any action relating to that dispute or controversy must be brought in a court of
competent jurisdiction in the state in which the office to which Employee reports is located. Each
party agrees that any such dispute shall be tried by a judge alone and hereby waive and forever
renounce the right to a trial before a civil jury.

11. Miscellaneous

     This Agreement may be executed in two or more counterparts, which together will be deemed one
original. This Agreement (along with the Schedule A and Schedule B attached hereto, the “Equity
Grant Summary” attached hereto, and any Restricted Stock Unit Agreement and Stock Option Agreement
between Employee and Athena) constitutes the entire agreement of the parties with respect to the
subject matter hereof and may only be amended by a written agreement signed by both parties hereto.
If any provision of this Agreement is held to be unenforceable or overly broad, such
unenforceability shall not render any other provision unenforceable, and the court or tribunal
making such determination shall modify such provision so that the provision will be enforceable to
the broadest extent permitted by law. This Agreement will be binding upon and inure to the benefit
of both parties and their respective successors and assigns; provided, however, that the
obligations of Employee are personal and may not be assigned by him or her. No waiver by Athena of
any breach under this Agreement will be considered valid unless in writing signed by Athena, and no
such waiver will be deemed a waiver of any subsequent breach. This Agreement, performance
hereunder, and Employee’s employment with or separation from Athena shall be governed by the laws
of the state in which the office to which Employee reports is located, without regard to conflict
of laws principles; provided, however, that wage and hour matters shall be governed by the laws of
the state in which Employee is domiciled.

     In witness whereof, the parties hereto have executed this Agreement as of the Effective Date.

	 	 	 	 	 	 	 	 	 

	EMPLOYEE

	 	 	 	ATHENA
	 	HEALTH, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Stephen N. Kahane, MD
 

	 	 	 	By:
	 	Leslie Brunner
 

	 	 
	[Signature]

	 	 	 	 	 	Name: Leslie Brunner	 	 
	Print name: Stephen N. Kahane, MD

	 	 	 	 	 	Title: SVP People + Process	 	 
	 
	Print address: 18 Willard Street	 	 	 	311 Arsenal Street, Watertown, MA 02472	 	 
	                       Newton, MA 02458
	 	 	 	 	 	 	 	 

8

 

SCHEDULE A TO EMPLOYMENT AGREEMENT

Effective Date: February 18, 2011

Position: President, Enterprise Services

Conflicting Agreements: The following is a complete list of all agreements may prohibit,
restrict, or impair the ability of Employee to work in any capacity or position at Athena:

	 	o	 	No such agreements
	 
	 	þ	 	The agreements listed below (attach a copy of each agreement)

Numerous confidentiality agreements with previous employers and other business
partners, however such confidentiality agreements do not contain
non-competition provisions.

Compensation: Employee’s base salary will be at an annual gross rate set forth below, which
rate may be increased from time to time in Athena’s sole discretion (the “Base Salary”). The Base
Salary and any cash payments identified in Other Compensation below shall be payable in accordance
with Athena’s payroll practices, as in effect from time to time, and shall be subject to required
federal, state, and local taxes and withholdings. Employee will be eligible to receive an annual
bonus and equity awards based on Employee’s and Athena’s performance, provided that Employee was an
employee of Athena during the fourth quarter of the year to which such bonus relates, and provided
that if Employee was on an action plan during any part of such year Employee has satisfied the
terms of such action plan and is in good standing, or if Employee is still on an action plan on the
date on which the bonus is to be paid out, either (a) Employee, in Athena’s reasonable judgment, is
on a path to being on good standing, or (b) Employee later satisfies said action plan. Such bonus,
if any, shall be determined by Athena in its sole but reasonable discretion, and shall be paid
according to the schedule determined by Athena, but by no later than March 15th of the
year following the year to which such bonus relates. Any sales commissions or other
performance-related payments for which Employee may be eligible are covered separately under
Athena’s Sales Incentive Plan as in effect from time to time. Notwithstanding the foregoing,
Employee shall be not eligible for an equity bonus award with respect to 2011 for achieving target
performance, however the CEO may in his discretion award an annual equity bonus with respect to
2011 for exception performance by Employee

	 	 	 

	Base Salary:

	 	$300,000 
	 
	 	 
	Other
 Compensation:

	 	• Equity awards as summarized in the Equity Grant Summary attached hereto

• Severance as and to the extent earned as set forth in Schedule B hereto

• Target cash bonus of 60% of Base Salary

	 	 	 

	Initials of Employee: SK

	 	Schedule A — Page 1

 

 

Prior Inventions: The following is a complete list of all Prior Inventions.

	 	o	 	No Prior Inventions
	 
	 	þ	 	Prior Inventions described below (reference and attach additional,
initialed sheets if necessary)

	 	 	 

	Initials of Employee: SK

	 	Schedule A — Page 2

 

 

SCHEDULE B TO EMPLOYMENT AGREEMENT

SEVERANCE

     Regardless of any provision of this Agreement to the contrary, if Athena terminates Employee’s
employment without “Cause” (as defined below) or Employee resigns his employment for “Good Reason”
(as defined below), then Athena shall continue to pay Employee’s base salary at the then-current
rate and in accordance with Athena’s regular payroll practices until the end of the Severance
Period set forth below. Solely for purposes of Section 409A, each such payment shall be considered
a separate payment. No benefits shall be provided or paid for by Athena following termination of
employment.

     As a condition to his receipt of severance, Employee must execute an Athena-prepared
separation agreement containing a mutual release of claims between the parties, and mutual
covenants of cooperation, confidentiality, and non-disparagement (the “Separation Agreement”).
Athena must deliver the Separation Agreement to Employee by no later than the fifteenth day
following Employee’s “separation from service” as defined under Section 409A; provided that, if
such Separation Agreement is not delivered to Employee by such time, the severance payments
described below shall not be conditioned on his execution of the Separation Agreement and he shall
be entitled to receive the severance pay without any conditions. Upon receiving a timely
Separation Agreement, Employee must deliver a fully executed copy of the Separation Agreement to
Athena within twenty-one days following the date that the Separation Agreement is initially
delivered to him by Athena; provided that, if Employee fails to deliver a fully-executed Separation
Agreement to Athena in such 21-day period, he shall be deemed to have irrevocably forfeited his
right to the severance payments described below.

     As used above, “Cause” means Employee’s (1) act involving fraud, embezzlement, or
misappropriation during employment with Athena; (2) material default in the performance of any of
Employee’s obligations to Athena, including but not limited to willful disregard of written
instructions, material noncompliance with written policies, material breach of this Agreement, or
significant failure to meet performance expectations; (3) adjudication as guilty by, or entry of a
plea of guilty or no contest before, a court of competent jurisdiction in regard to a felony; (4)
being found by a court of competent jurisdiction to have engaged in one or more wrongful acts that
individually, or in the aggregate, have a material adverse effect on Athena, its prospects,
earnings, or financial condition; or (5) death or physical or mental incapacity; provided that,
“Cause” shall not be deemed to have occurred for purposes of (2) above unless Employee has first
received written notice specifying in reasonable detail the particulars of such grounds and that
Athena intends to terminate Employee’s employment for such reason, and if such grounds are
reasonably capable of being cured within thirty (30) days, Employee has failed to cure such grounds
within a period of thirty (30) days from the date of such notice.

     As used above, “Good Reason” means (1) a material diminution by Athena to Employee’s base
salary rate (as it may be increased from time to time); (2) a materially adverse change by Athena
in Employee’s authorities or responsibilities or (3) a change of more than fifty (50) miles in the
principal location at which Employee provides services to Athena; provided that “Good Reason” shall
not be deemed to have occurred unless: (A) Employee provides Athena with written notice that he
intends to terminate his employment for one of the grounds set forth above within sixty (60) days
of such reason(s) occurring; (B) if such ground is capable of being cured, Athena has failed to
cure such ground within a period of thirty (30) days from the date of such written notice; and (C)
Employee terminates his employment within one (1) year from the date that Good Reason first occurs.

			
	Severance Period:	 	Six months immediately following the effective date of
Employee’s termination of employment with Athena

	 	 	 

	Initials of Employee: SK

	 	Schedule A — Page 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]