Document:

EX-10.1

 Exhibit 10.1 

July 11, 2017 
 Daniel N. Leib 

[Address] 
 Dear Dan: 

In recognition of your importance to Donnelley Financial Solutions, Inc., its officers, directors, subsidiaries, affiliates, and successors or
assigns (“DFS” or the “Company”) and to further the Company’s interests, we are pleased to offer you a new employment letter (the “Agreement”). The purpose of this letter is to amend and restate in its entirety the
employment agreement dated May 3, 2011 between you and R.R. Donnelley & Sons Company, which was assigned to DFS by agreement, dated September 29, 2016, and amended by agreement dated as of October 26, 2016 between you and
DFS. All capitalized terms used but not defined in this agreement shall have the meanings assigned to such terms in Annex A. 
 The terms of
this Agreement are as follows: 
  

	 	1.	Title and Responsibilities. You will serve as Chief Executive Officer, based in Chicago, Illinois, in accordance with the terms and provisions of this Agreement as well as any employment and other policies
applicable to employees of the Company and its subsidiaries from time to time during the term of your employment. You will have the customary duties, responsibilities and authorities of such position. You will also receive such office, staffing and
other assistance as is commensurate with your position as Chief Executive Officer. Additionally, during the term of your employment, the Company will nominate you for election to the Board of Directors of the Company (the “Board”).

  

	 	2.	Employment at Will. You and we hereby acknowledge that your employment with the Company constitutes “at-will” employment and that either party may terminate your employment at any time upon written
notice of termination within a reasonable period of time before the effective date of your Separation from Service. 

  

	 	3.	Compensation. You will receive the following compensation and benefits, from which the Company may withhold any amounts required by applicable law. 

 

	 	a.	Base Salary. The Company will pay you a base salary (“Base Salary”) at the rate of not less than $700,000 per year. This Base Salary will be paid in accordance with the normal payroll practices of the
Company. 

	 	b.	Annual Bonus. In respect of each calendar year of the Company, you will be eligible to receive an annual bonus (the “Annual Bonus”) in accordance with the Company’s annual incentive compensation
plan (the “Plan”) with a target bonus opportunity of not less than 100% of Base Salary. The performance objectives for your Annual Bonus with respect to each calendar year will be determined as provided for in the Plan. Any Annual Bonus
which you become entitled to receive shall be paid to you at the time set forth in the Plan. 

  

	 	c.	Vacation. You will be eligible for four weeks vacation annually. 

  

	 	d.	Benefits. You will continue to be eligible to participate in the employee benefit plan and programs generally applicable to DFS employees. 

 

	 	e.	Car Allowance. You will receive a car allowance in the amount of $1,400 per month. 

  

	 	f.	Financial Planning, Supplemental Life and Disability. You will be entitled to a Financial Planning allowance and Supplemental Executive Life and Supplemental Executive Disability Insurance. 

 

	 	g.	Perquisites. You will be eligible to receive any other perquisites or employee benefits provided to other executive officers of the Company. 

 

	 	h.	Prior Equity Grants and Cash Awards. For avoidance of doubt, the Assignment of Employment Agreement and Acceptance of Employment Agreement between R.R. Donnelley & Sons Company, Donnelley Financial and
you, dated September 29, 2016 is not intended to constitute a separation from service (within the meaning of Treasury Regulation § 1.409A-1(h)) or otherwise affect the vesting, market value or any other provisions of any time-vested or
performance-based awards provided to you by R.R. Donnelley & Sons Company before September 29, 2016, including, without limitation, Stock Unit Awards (including Restricted Stock Awards), Performance Unit Awards, Long-Term Incentive
Cash Awards, and retention and spin bonuses. 

  

	 	4.	Severance. If your Separation from Service with the Company (and its at least 80%-owned subsidiaries and affiliates) is initiated by the Company without Cause or your Separation from Service is initiated by you
for Good Reason (each, a “Qualifying Termination”), or in the event of any such other termination as provided below, the following will apply: 

  
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	 	a.	Severance Pay. 

  

	 	i.	If you are terminated due to a Qualifying Termination other than during a CIC Termination Period, the Company will pay you each of: 

  

	 	1.	an amount equal to two (2) times your Annualized Total Compensation (“Severance Pay”), subject to the prompt execution by you of the Company’s customary release and in consideration of your
obligations described in the Section below entitled “Restrictive Covenants.” Such Severance Pay shall be payable in equal installments on the 15th and last days of each of the
twenty-four (24) months following the 30th day after the date of your Separation from Service (if the 15th or last day of a month is not a
business day, on the closest business day to such day); and 

  

	 	2.	a lump sum cash payment equal to the Annual Bonus that you would have received for the year in which your Separation from Service occurs, but for your Qualifying Termination, determined on the basis of, as applicable,
(i) the Company’s actual achievement of the performance goals applicable under the Plan for the full year of such performance period and (ii) the actual achievement of your individual performance goals under the Plan for the portion
of the performance period elapsed prior to your Qualifying Termination, multiplied by a fraction, the numerator of which equals the number of days you were employed by the Company during the year in which your Separation from Service occurred, and
the denominator of which is 365, paid on the day the Annual Bonus otherwise would have been or would be paid under the Plan, but for your Qualifying Termination following the performance period; and 

 

	 	3.	 if your Qualifying Termination occurs after end of a performance period, but before the payment of annual cash
bonuses for such period under the Plan, a lump sum cash payment equal to the Annual Bonus under the Plan that you would have received for the year prior to which your Qualifying Termination occurs, but for your Qualifying Termination, determined on
the basis of, as 

  
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applicable, (i) the Company’s actual achievement of the performance goals applicable under the Plan for such performance period and (ii) the actual achievement of your individual
performance goals under the Plan for such performance period (the “Prior Year Bonus”), paid on the day your Prior Year Bonus otherwise would have been or would be paid under the Plan, but for your Qualifying Termination following the
performance period. 

  

	 	ii.	If you are terminated due to a Qualifying Termination during a CIC Termination Period, the Company will pay you each of: 

  

	 	1.	an amount equal to two (2) times your Annualized Total Compensation, subject to the prompt execution by you of the Company’s customary release and in consideration of your obligations described in the Section
below entitled “Restrictive Covenants,” payable in equal installments on the 15th and last days of each of the twenty-four (24) months following the 30th day after the date of your Separation from Service (if the 15th or last day of a month is not a business day, on the closest business day to such
day); and 

  

	 	2.	a lump sum cash payment equal to one-half (0.5) times the sum of your Annualized Total Compensation, paid on the 60th day (or the next following business day if the
60th day is not a business day) following the date of your Separation from Service; and 

  

	 	3.	a lump sum cash payment equal to your target Annual Bonus under the Plan, multiplied by a fraction, the numerator of which equals the number of days you were employed by the Company during the year in which your
Separation from Service occurred, and the denominator of which is 365, paid on the on the 60th day (or the next following business day if the
60th day is not a business day) following the date of your Separation from Service; and 

  

	 	4.	 if your Qualifying Termination occurs after the end of a performance period under the Plan, but before the
payment of annual cash bonuses for such period 

  
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under the Plan, a lump sum cash payment equal to your Prior Year Bonus, paid on the day your Prior Year Bonus otherwise would have been or would be paid under the Plan, but for your Qualifying
Termination following the performance period. 

  

	 	iii.	All payments made pursuant to this Agreement shall be reduced by applicable tax withholdings. 

  

	 	b.	Benefits. Your medical, dental and vision insurance coverage in effect immediately before the date of your Qualifying Termination will continue to be available to you under the group health plan continuation
coverage laws (“COBRA”), for a period of twenty-four (24) months following the date of your Separation from Service (the “COBRA Period”) irrespective of whether you or anyone in your family participating in the group health
plan is or becomes disabled before or after the date of your Qualifying Termination. If you elect COBRA coverage, it will be available to you for the 24-month COBRA Period at the same cost your insurance coverage is available to active employees
(and the portion of the cost of coverage paid by the Company that does not constitute “COBRA Premium Subsidy” under the SPP shall be reflected in an IRS Form 1099 as imputed income to you). Your short-term and long-term disability, group
life insurance and accidental death and dismemberment insurance, Supplemental Executive Life Insurance and Supplemental Executive Disability Insurance end on the date of your Separation from Service; provided, however, that nothing in
this sentence is intended to limit your rights to elect any conversion or continuation rights that may be provided under any of the preceding insurance policies, plans or applicable law. If this agreement to provide benefits continuation raises any
compliance issues or impositions of penalties under the Patient Protection and Affordable Care Act or other applicable law, or under the terms and conditions of the group health plan in effect from time to time, then the parties agree to modify this
Agreement so that it both fulfills the objectives of this Section 4(b) and complies with such laws. 

  

	 	c.	Accrued Obligations. Upon any termination of employment, the Company shall pay to you all of your Accrued Obligations, in each case determined in accordance with the terms of the relevant plan or policy. Payment
of such Accrued Obligations shall be made to you as soon as administratively practicable following the date of your Separation from Service. 

  
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	 	d.	Resignations. Upon any termination of employment, you shall resign from such offices and directorships, if any, of the Company that you may hold from time to time. 

 

	 	e.	Indemnification. Your rights of indemnification under the Company’s organizational documents, any plan or agreement at law or otherwise and your rights thereunder to director’s and officer’s
liability insurance coverage for, in both cases, actions as an officer of the Company shall survive your Separation from Service. 

  

	 	f.	Treatment of Equity Grants and Long-Term Incentive Cash Awards. For the avoidance of doubt, nothing in this Agreement, including this Section 4(f), shall obligate the Company to grant any equity-based or
cash-based awards to you. To the extent any such awards are or have been previously granted, unless otherwise provided below, all awards will be treated in accordance with their terms. 

 

	 	i.	All equity-based awards subject to vesting issued to you from time to time on or prior to December 31, 2019 will be subject to the following treatment upon a Qualifying Termination: 

 

	 	1.	Any outstanding equity-based awards subject to time-based vesting will fully vest as of the date of your Separation from Service (including any time-based vesting conditions applicable to performance-based equity
awards, but excluding any performance-based vesting conditions applicable to performance-based equity awards); 

  

	 	2.	If you are terminated due to a Qualifying Termination other than during a CIC Termination Period, then any performance-based vesting conditions applicable to any outstanding equity-based award that is subject to vesting
based on pre-established performance criteria shall continue to vest and be paid after the end of the applicable performance period based on actual performance, as though no Qualifying Termination had occurred; 

 

	 	3.	 Upon a Change in Control, each outstanding equity-based award granted after the date of this Agreement (but, for
avoidance of doubt, on or prior to December 31, 2019), that is subject to pre-established performance criteria shall be deemed 

  
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earned at the target performance level with respect to all open performance periods and will cease to be subject to any further performance conditions, but will continue to be subject to
time-based vesting following the Change in Control in accordance with the original performance period; and 

  

	 	4.	If you are terminated due to a Qualifying Termination during a CIC Termination Period, then any outstanding equity-based award that is subject to pre-established performance criteria will vest at target as of the date
of your Separation from Service. 

  

	 	5.	Any long-term incentive cash awards issued to you in lieu of, or in addition to, equity-based awards on or prior to December 31, 2019 will also be subject to the treatment described in this Section 4(f)(i)
upon a Qualifying Termination. 

  

	 	ii.	All equity-based awards issued to you from time to time on or following January 1, 2020 will be subject to the following treatment upon a Qualifying Termination: 

 

	 	1.	Upon a Change in Control, each outstanding equity-based award that is subject to pre-established performance criteria shall be deemed earned at the target performance level with respect to all open performance periods
and will cease to be subject to any further performance conditions, but will continue to be subject to time-based vesting following the Change in Control in accordance with the original performance period; 

 

	 	2.	If you are terminated due to a Qualifying Termination during a CIC Termination Period, then any outstanding equity-based award that is subject to pre-established performance criteria will vest at target as of the date
of your Separation from Service; and 

  

	 	3.	If you are terminated due to a Qualifying Termination during a CIC Termination Period, then any outstanding equity-based awards subject only to time-based vesting conditions will vest in full as of the date of your
Separation from Service. 

  
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	 	4.	Any long-term incentive cash awards issued to you in lieu of, or in addition to, equity-based awards on or following January 1, 2020 will also be subject to the treatment described in this Section 4(f)(ii)
upon a Qualifying Termination. 

  

	 	iii.	Any equity-based awards that become vested pursuant to the provisions of this Section 4(f) of this Agreement shall be settled in shares of the Company’s common stock, $0.01 par value, on a one-for-one basis,
as soon as practicable (but not more than 30 days) following each date on which such awards vest (but for avoidance of doubt, subject to the terms of the below Section 4(g) of this Agreement). 

 

	 	g.	 Section 409A of the Code. If you are a “specified employee” within the meaning set forth in
the document entitled “409A: Policy of Donnelley Financial Solutions, Inc. and its Affiliates Regarding Specified Employees” on the date of your Separation from Service, then any amounts payable pursuant to this Agreement or otherwise that
(i) become payable as a result of your Separation from Service and (ii) are subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) as a result of your Separation from Service shall not be paid
until the earlier of (x) the first business day of the seventh month occurring after the month in which the date of your Separation from Service occurs and (y) the date of your death. Notwithstanding the immediately preceding sentence,
amounts payable to you as a result of your involuntary Separation from Service that do not exceed two (2) times the lesser of (i) your annualized compensation based upon your annual rate of Base Salary for the year prior to the year in
which the date of your Separation from Service occurs and (ii) the maximum amount that may be taken into account under section 401(a)(17) of the Code in the year in which the date of your Separation from Service occurs may be paid as otherwise
scheduled. If any compensation or benefits provided by this Agreement may result in the application of Section 409A of the Code, then the Company shall, in consultation with you, modify this Agreement to the extent permissible under
Section 409A of the Code in the least restrictive manner as necessary to exclude such compensation and benefits from the definition of “deferred compensation” within the meaning of such Section 409A of the Code or in order to
comply with the provisions of Section 409A of the Code. By signing this Agreement you acknowledge that if any amount paid or payable to you becomes subject to Section 409A of the Code, you are solely responsible for the payment of any
taxes and interest due as a result. For purposes of Section 409A, each payment made under this Agreement will be 

  
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treated as a separate payment. In no event may you, directly or indirectly, designate the calendar year of payment. 

 

	 	h.	Section 280G of the Code. In the event that any payments or benefits (whether under this Agreement or otherwise) payable to you (i) constitute “parachute payments” within the meaning of
Section 280G of the Code, and (ii) but for this Section 4(g), would be subject to the excise tax imposed by Section 4999 of the Code, then such payments and benefits will be either (x) delivered in full, or
(y) delivered as to such lesser extent that would result in no portion of such payments and benefits being subject to excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable
federal, state and local income and employment taxes and the excise tax imposed by Section 4999 of the Code (and any equivalent state or local excise taxes), results in your receipt, on an after-tax basis, of the greatest amount of benefits,
notwithstanding that all or some portion of such payments and benefits may be taxable under Section 4999 of the Code. The Company will provide you with prior written notice of, and an opportunity to consult in respect of, any reduction in
payments or benefits as contemplated under clause (y) above. Any reduction in payments and/or benefits required by this provision will occur in the following order, in each case with payments and benefits with a higher “parachute
payment” value for purposes of Section 280G of the Code reduced before payments with a lower value: (1) reduction of vesting acceleration of equity awards that are not eligible for reduction under Treasury Regulation 1.280G
Q&A-24(c); (2) reduction of other benefits provided under this Agreement; (3) reduction of cash payments that are not eligible for reduction under Treasury Regulation 1.280G Q&A-24(c); (4) reduction of vesting acceleration of
equity awards that are eligible for reduction under Treasury Regulation 1.280G Q&A-24(c); and (5) reduction of cash payments that are eligible for reduction under Treasury Regulation 1.280G Q&A-24(c). In the event that acceleration of
vesting of equity awards or cash payments is to be reduced, such acceleration of vesting or reduction will be cancelled in the reverse order of the date of grant for such awards. If two or more awards were granted on the same date, each award will
be reduced on a pro-rata basis. 

  

	 	5.	 Restrictive Covenants. You and DFS recognize that, due to the nature of your employment and relationship
with DFS, you will have access to and develop confidential business information, proprietary information and trade secrets relating to the business and operations of DFS. You acknowledge that such information is valuable to the business of DFS, and
that disclosure to, or use for the benefit of, any person or entity other than DFS would cause substantial damage to DFS. You further acknowledge 

  
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that your duties for DFS include the opportunity to develop and maintain relationships with DFS customers, employees, representatives and agents on behalf of DFS, and that access to and
development of those close relationships with DFS customers render your services special, unique and extraordinary. In recognition that the goodwill and relationships described herein are assets and extremely valuable to DFS, and that loss of or
damage to those relationships would destroy or diminish the value of DFS, you agree as follows. The parties hereby deem the amounts payable to you pursuant to Section 4 hereof to be the minimum consideration for the restrictive covenant
obligations set forth below. 

  

	 	a.	Noncompetition. In consideration of the covenants and agreements of the Company herein contained, the payments to be made by the Company pursuant to this Agreement, the positions of trust and confidence you
occupy and have occupied with the Company and the information of a highly sensitive and confidential nature obtained as a result of such positions, you agree that, from the date of your Separation from Service for any reason, including a Separation
from Service initiated by DFS with or without Cause, and for twenty-four (24) months thereafter, you will not, directly or indirectly, either as an employee, employer, consultant, agent, principal, partner, stockholder, corporate officer,
director or in any other individual or representative capacity, worldwide, engage in any business which is competitive with the business of DFS. You may, however, own stock or the rights to own stock in a company covered by this paragraph that is
publicly owned and regularly traded on any national exchange or in the over-the-counter market, provided that your holdings of stock or rights to own stock do not exceed the lesser of (i) 1% of the capital stock entitled to vote in the
election of directors or (ii) the combined value of the stock or rights to acquire stock does not exceed your gross annual earnings from the Company. 

  

	 	b.	 Importance of Customer Relationships. You recognize that DFS’s relationship with the customer or
customers you serve, and with other employees, is special and unique, based upon the development and maintenance of good will resulting from the customers’ and other employees’ contacts with DFS and its employees, including you. As a
result of your position and customer contacts, you recognize that you will gain valuable information about (i) DFS’s relationship with its customers, their buying habits, special needs and purchasing policies, (ii) the skills,
capabilities and other employment-related information about DFS employees, and (iii) other matters which you would not otherwise know and which are not otherwise readily available. Such knowledge is essential to the business of DFS, and you
recognize that your Separation from Service shall require DFS to rebuild that 

  
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customer relationship to retain the customer’s business. You recognize that during the twenty-four (24) month period following your Separation from Service, DFS is entitled to
protection from your using the information and customer and employee relationships with which you have been entrusted by DFS during your employment. You acknowledge and agree that following such twenty-four (24) month period, any use of such
information and customer and employee relationships shall continue to be subject to the confidentiality restrictions set forth in Section 5(e) below. 

  

	 	c.	Nonsolicitation of Customers. You shall not, while employed by DFS and for a period of twenty-four (24) months from the date of Separation from Service with DFS for any reason, including your Separation from
Service initiated by DFS with or without Cause, directly or indirectly, either on your own behalf or on behalf of any other person, firm or entity, solicit or provide services which are the same as or similar to the services DFS provided or offered
while you were employed by DFS to any customer or prospective customer of DFS (i) with whom you had direct contact in the course of your employment with DFS or about whom you learned confidential information as a result of your employment with
DFS or (ii) with whom any person over whom you had supervisory authority at any time had direct contact during the course of his or her employment with DFS or about whom such person learned confidential information as a result of his or her
employment with DFS. 

  

	 	d.	Nonsolicitation of Employees. You shall not, while employed by DFS and for a period of twenty-four (24) months from the date of your Separation from Service with DFS for any reason, including your Separation
from Service initiated by DFS, with or without Cause, either directly or indirectly solicit, induce or encourage any DFS employee(s) to terminate their employment with DFS or to accept employment with any entity, including but not limited to a
competitor, supplier or customer of DFS, nor shall you cooperate with any others in doing or attempting to do so. As used herein, the term “solicit, induce or encourage” includes, but is not limited to, (a) initiating communications
with a DFS employee relating to possible employment, (b) offering bonuses or additional compensation to encourage DFS employees to terminate their employment with DFS and accept employment with a competitor, supplier or customer of DFS, or
(c) referring DFS employees to personnel or agents employed by competitors, suppliers or customers of DFS. 

  
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	 	e.	Confidential Information. You are prohibited from, at any time during your employment with the Company or thereafter, disclosing or using any Confidential Information for your benefit or any other person or
entity, unless directed or authorized in writing by the Company to do so, until such time as the information becomes generally known to the public without your fault. “Confidential Information” means non-public information (and public
information that becomes public due to your violation of this Section 5(e)) (i) disclosed to or known by you as a consequence of your employment with the Company, (ii) not generally known to others outside the Company, and
(iii) that relates to the Company’s marketing, sales, finances, operations, processes, methods, techniques, devices, software programs, projections, strategies and plans, personnel information, industry contacts made during your
employment, and customer information, including customer needs, contacts, particular projects and pricing. These restrictions are in addition to any confidentiality restrictions in any other agreement you may have signed with the Company.

  

	 	f.	Obligation upon Subsequent Employment. If you accept employment with any future employer during the time period that equals the greater of one (1) year following the date of your Separation from Service with
DFS and the Severance Period (regardless of whether you actually receive severance benefits during that period), you will deliver a copy of this Agreement to such employer and advise such employer concerning the existence of your obligations under
this Agreement. 

  

	 	g.	Company’s Right to Injunctive Relief. By execution of this Agreement, you acknowledge and agree that the Company would be damaged irreparably if any provision under this Restrictive Covenants Section were
breached by you and money damages would be an inadequate remedy for any such nonperformance or breach. Accordingly, the Company and its successors or permitted assigns, in order to protect its interests, shall pursue, in addition to other rights and
remedies existing in its favor, an injunction or injunctions to prevent any breach or threatened breach of any of such provisions and to enforce such provisions specifically (without posting a bond or other security). With respect to such
enforcement, the prevailing party in such litigation shall be entitled to recover from the other party any and all attorneys’ fees, costs and expenses incurred by or on behalf of that party in enforcing, attempting to enforce or contesting any
provision under this Restrictive Covenants section or any other rights under this Agreement. 

  

	 	6.	General. 

  
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	 	a.	Acknowledgement of Reasonableness and Severability. You acknowledge and agree that the provisions of this Agreement, including the Restrictive Covenants section, are reasonable and valid in geographic, temporal
and subject matter scope and in all other respects, and do not impose limitations greater than are necessary to protect the goodwill, Confidential Information and other business interests of the Company. If any court subsequently determines that any
part of this Agreement, including the Restrictive Covenants section, is invalid or unenforceable, the remainder of the Agreement shall not be affected and shall be given full effect without regard to the invalid portions. Further, any court
invalidating any provision of this Agreement shall have the power to revise the invalidated provisions such that the provision is enforceable to the maximum extent permitted by applicable law. 

 

	 	b.	Non-duplication of Severance Pay. If, upon your ultimate Separation from Service, the separation pay for which you would be eligible under the Donnelley Financial Separation Pay Plan applicable to employees
generally, if any, would be greater than the separation pay payable under to this Agreement, then your Severance Pay shall be increased to correspond to the pay you would have been eligible for under such Plan. To avoid duplicate payments, if you
are eligible to receive severance under this Agreement, you hereby waive any payments under the Donnelley Financial Separation Pay Plan. 

  

	 	    	For avoidance of doubt, you acknowledge and agree that you are not a participant in the Donnelley Financial Solutions, Inc. Executive Severance Plan, and except as provided in this Agreement or under applicable law, you
will not be entitled to any payments or benefits from the Company as a result of the termination of your employment. 

  

	 	c.	Employee Breach. If you breach this Agreement or any other agreement you have signed with the Company, the Company may, in its complete discretion, stop making any of the payments provided for in this Agreement.

  

	 	d.	 Arbitration. Any controversy arising out of or relating to this Agreement or the breach of this Agreement
that cannot be resolved by you and the Company, including any dispute as to the calculation of any payments hereunder, and the terms of this Agreement, shall be determined by a single arbitrator in Chicago, IL, in accordance with the rules of JAMS;
provided, however, that either party may seek preliminary injunctive relief to maintain or restore the status quo pending a decision of the arbitrator, and the 

  
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parties consent to the exclusive jurisdiction of the courts of the State of Delaware or the Federal courts of the United States of America located in the District of Delaware in connection
therewith. The decision of the arbitrator shall be final and binding and may be entered in any court of competent jurisdiction. The arbitrator may award the party he or she determines has prevailed in the arbitration any legal fees and other fees
and expenses that may be incurred in respect of enforcing its respective rights. 

  

	 	e.	Governing Law. All disputes arising under or related to this Agreement shall at all times be governed by and construed in accordance with the internal laws (as opposed to the conflict of law provisions) and
decisions of the State of Delaware as applied to agreements executed in and to be fully performed within that State. 

  

	 	f.	Notice and Execution. This Agreement may be executed in counterparts. Any notice or request required or permitted to be given hereunder shall be sufficient if in writing and deemed to have been given if delivered
personally or sent by certified mail, return receipt requested, to you at the address above, and to the Company at its Corporate Headquarters (Attn: Corporate Secretary). 

 

	 	g.	Entire Agreement. This Agreement, together with all the grants and awards referenced herein, shall constitute the entire agreement between the parties with respect to the subject matter contained herein, and
fully supersedes any other prior agreements or understandings between us. This Agreement may not be changed or amended orally, but only in writing signed by both parties. 

 

	 	h.	Waiver. The failure of either party hereto to enforce at any time any provision of this Agreement shall not be construed as a waiver of such provision nor in any way to affect the validity of this Agreement or
any part hereof or the right of such party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to constitute a waiver of any other or subsequent breach. 

 

	 	i.	Assignments and Successors. The rights and obligations of the Company under this Agreement shall inure to the benefit of and be binding upon its successors and assigns. Your rights and obligations under this
Agreement shall inure to the benefit of and be binding upon your designated beneficiary or legal representative, provided, however, that you may not assign any of your rights and obligations hereunder. 

  
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 If the foregoing terms and conditions are acceptable and agreed to by you, please sign on the
line provided below to signify such acceptance and agreement and return the executed copy to the Chief Human Resources Officer. 
 Very truly yours, 

 

			
	Donnelley Financial Solutions, Inc.
		
	By:	 	/s/ Diane Bielawski
		 	Diane Bielawski
		 	Chief Human Resources Officer

 ACCEPTED AND AGREED to this 13th day of July 2017. 

 

	
	
	/s/ Daniel N. Leib
	Daniel N. Leib

  
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 Annex A 

Definitions 
  

	1.	“Accrued Obligations” means, as of the date of your Separation from Service, the sum of (i) your Base Salary through the date of your Separation from Service to the extent not theretofore paid,
(ii) the amount of any other cash compensation earned by you as of the date of your Separation from Service to the extent not theretofore paid, (iii) any vacation pay, expense reimbursements and other cash payments to which you are
entitled as of the date of your Separation from Service to the extent not theretofore paid, and (iv) all other benefits which have accrued and are vested as of date of your Separation from Service. Except as provided in the applicable plan,
program or policy, amounts shall be deemed to accrue ratably over the period during which they are earned, but no discretionary compensation shall be deemed earned or accrued until it is specifically approved in accordance with the applicable plan,
program or policy. 

  

	2.	“Annualized Total Compensation” means Base Salary plus Annual Bonus (at the target level) for one (1) year at the rate in effect immediately before the date of your Separation from Service, but,
for these calculations only, your Base Salary and target bonus percentage shall not be less than the amount set forth in Section 3, above. 

  

	3.	 “Cause” means (i) your willful and continued failure to perform substantially your duties
with the Company (other than any such failure resulting from your incapacity due to physical or mental illness or any such failure subsequent to your being delivered a notice of termination without Cause) after a written demand for substantial
performance is delivered to you by the Chairman or the Board that identifies the manner in which you have not performed your duties, (ii) your willful engaging in conduct which is demonstrably and materially injurious (monetarily or otherwise)
to the business, reputation, character or community standing of the Company, (iii) conviction of or the pleading of nolo contendere with regard to a felony or any crime involving fraud, dishonesty or moral turpitude, or (iv) a
refusal or failure to attempt in good faith to follow the written direction of the Chairman or the Board (provided that such written direction is consistent with your duty and station) promptly upon receipt of such written direction. A termination
for Cause after a Change in Control shall be based only on events occurring after such Change in Control; provided, however, the foregoing limitation shall not apply to an event constituting Cause which was not discovered by the Company prior
to a Change in Control. For the purposes of this definition, no act or failure to act by you shall be considered “willful” unless done or omitted to be done by you in bad faith and without reasonable belief that your action or omission was
in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the advice of the Company’s principal outside counsel shall be conclusively presumed
to be done, or omitted to be done, by you in good faith and in the best interests of the Company. Notwithstanding the foregoing, the 

  
 A-1 

	 	
Company shall provide you with a reasonable amount of time, after a notice and demand for substantial performance is delivered to you, to cure any such failure to perform, and if such failure is
so cured within a reasonable time thereafter, such failure shall not be deemed to have occurred. 

  

	4.	“Change in Control” has the meaning set forth in the Donnelley Financial Solutions, Inc. 2016 Performance Incentive Plan, as it may be amended from time to time. 

 

	5.	“CIC Termination Period” means the period of time beginning three (3) months prior to a Change in Control and ending twenty-four (24) months following such Change in Control; provided that the
period of time three (3) months prior to such Change in Control shall only be considered part of the CIC Termination Period if your employment is terminated by the Company without Cause or by you for Good Reason in connection with a Change in
Control, as determined in good faith by the Compensation Committee. 

  

	6.	“Good Reason” means, without your express written consent, the occurrence of any of the following events: 

  

	 	i.	A change in your duties or responsibilities (including reporting responsibilities) that, taken as a whole, represents a material and adverse diminution of your duties, responsibilities or status with the Company (other
than a temporary change that results from or relates to your incapacitation due to physical or mental illness); 

  

	 	ii.	A material reduction by the Company in your rate of annual base salary or annual target bonus opportunity (including any material and adverse change in the formula for such annual bonus target) as the same may be
increased from time to time; 

  

	 	iii.	Any requirement of the Company that your office be more than seventy-five (75) miles from Chicago, Illinois; and 

  

	 	iv.	Any material breach of the Agreement by the Company. 

 Notwithstanding the
foregoing, a Good Reason event shall not be deemed to have occurred if the Company cures such action, failure or breach within ten (10) days after receipt of notice thereof given by employee. Your right to terminate employment for Good Reason
shall not be affected by your incapacities due to mental or physical illness and your continued employment shall not constitute consent to, or a waiver of rights with respect to, any event or condition constituting Good Reason; provided,
however, that you must provide notice of termination of employment within ninety (90) days following the initial existence of an event constituting Good Reason, or such event shall not constitute Good Reason under this Agreement. 

  
 A-2 

	7.	“Separation from Service” means a termination of employment with the Company within the meaning of Treasury Regulation § 1.409A-1(h). 

  
 A-3Exhibit

Exhibit 10.1

	
		
	

	Daniel Haley
Senior Vice President and
General Counsel
athenahealth, Inc.
311 Arsenal Street
Watertown, MA 02472
dhaley@athenahealth.com

                                

July 10, 2017

BY EMAIL (kstubelis@athenahealth.com)
Karl Stubelis
[address omitted]

Dear Karl:

The purpose of this letter agreement (this “Agreement”) is to confirm the terms of the remainder of your employment with athenahealth, Inc. (the “Company”) and your separation from the Company.  If the terms of this Agreement are acceptable to you, please sign, date and return it to me within twenty-one (21) days following the date you receive it.  You may revoke this Agreement at any time during the seven-day period immediately following the date of your signing by notifying me in writing of your revocation within that period.  If you revoke this Agreement as described in the preceding sentence, then this Agreement shall not take effect.  If you do not revoke this Agreement, then, on the eighth day following the date that you signed it, this Agreement shall take effect as a legally binding agreement between you and the Company on the basis set forth herein.

1.Transition Period and Separation Date.

(a)    As we have discussed, effective as of July 10, 2017 (the “Transition Date”) through the date that your employment terminates (the “Separation Date”), you will continue to be employed by the Company on a full-time basis.  Provided that you comply in full with your obligations hereunder, it is expected that the Separation Date will be July 21, 2017.  The period beginning on the Transition Date and concluding on the Separation Date is hereinafter referred to as the “Transition Period.”

(b)    During the Transition Period, you will continue to receive your base salary, payable at the rate in effect as of the date hereof, and to participate in all employee benefit plans of the Company in accordance with the terms of those plans. 

1

Exhibit 10.1

(c)    During the Transition Period, you will continue to perform your regular duties as the Company’s Chief Financial Officer, and any other duties assigned to you from time to time by the Chief Executive Officer of the Company or his designee, and will assist with the smooth transition of your duties and responsibilities to the Company’s designees.  You agree that, during the Transition Period, you will continue to devote your best professional efforts to the Company, and that you will continue to abide by all Company policies and procedures as in effect from time to time.  You will not incur any business expenses, except as necessary for the performance of your regular job duties in the ordinary course of business, during the Transition Period without the advance approval of the Chief Executive Officer or his designee.  During the Transition Period, except as necessary for the performance of your regular job duties in the ordinary course of business, you shall have no authority to, and you shall not attempt to, take any action on behalf of the Company, bind the Company to any third party, or hold yourself out as a representative or agent of the Company, without the prior written consent of the Chief Executive Officer or his designee.  
(d)    The Company may terminate your employment at any time during the Transition Period upon notice to you.  If the Company terminates your employment for Cause (as defined herein), you will not be eligible to receive the severance benefits described in Section 3 hereof, but this Agreement shall otherwise remain in full force and effect.  For purposes of this Agreement, Cause, as determined by the Company in its reasonable judgment exercised in good faith, means (i) your failure to perform, or gross negligence in the performance of, your duties and responsibilities to the Company or any of its Affiliates; (ii) your material breach of this Agreement or any other agreement between you and the Company or any of its Affiliates; (iii) your commission of a felony or other crime involving moral turpitude; or (iv) other conduct by you that is harmful to the business interests or reputation of the Company or any of its Affiliates.  For purposes of this Agreement, “Affiliates” means all persons and entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be by management authority, equity interest or otherwise.

(e)    For the avoidance of doubt, if you voluntarily terminate your employment with the Company prior to July 21, 2017, then you shall not be eligible to receive the severance benefits described in Section 3 hereof, but this Agreement shall otherwise remain in full force and effect.  

2.    Final Salary and Vacation Pay.  You will receive pay for all work you performed for the Company through the Separation Date, to the extent not previously paid, as well as pay, at your final base rate of pay, for any vacation days you earned but had not used as of the Separation Date, determined in accordance with Company policy and as reflected on the books of the Company.  You will receive the payments described in this Section 2 regardless of whether or not you sign this Agreement.

2

Exhibit 10.1

3.    Severance Benefits.  In consideration of your acceptance of this Agreement and subject to your meeting in full your obligations under it, including without limitation your obligation to execute a post-employment general release and waiver of claims in the form attached hereto as Exhibit A (the “Release):
(a)    the Company will continue to employ you during the Transition Period on the terms described in Section 1 hereof;

(b)    the Company will continue to pay you your salary, at your final base rate of pay, for a period of twelve (12) months following the Separation Date; and

(c)    the Company will permit certain of your restricted stock units to continue to vest through their next scheduled vesting date, as shown on Exhibit B hereto.  For the avoidance of doubt, any other restricted stock units that are not vested on the Separation Date and do not continue to vest pursuant to this Section 3(c) shall terminate and be forfeited on the Separation Date.  Further, all of your Performance Stock Units (“PSUs”), including without limitation the PSUs granted to you in March 2017, shall terminate and be forfeited on the Separation Date.  Other than the continued vesting described in this Section 3(c), your restricted stock units will be administered in accordance with the terms of their original grants.
The payments described in Section 3(b) will be made in the form of salary continuation, and will begin on the next regular Company payday which is at least seven (7) business days following both the effective date of the Release and the date that the Release, signed by you, is received by the Company.  The first payment will be retroactive to the day following the Separation Date.

4.    Acknowledgement of Full Payment and Withholding.   

(a)    You acknowledge and agree that the payments provided under Section 2 of this Agreement are in complete satisfaction of any and all compensation due to you from the Company, whether for services provided to the Company or otherwise, through the Separation Date and that, except as expressly provided under this Agreement, no further compensation or benefits are owed or will be provided to you.   

(b)    All payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company under applicable law and all other lawful deductions authorized by you.   

3

Exhibit 10.1

5.    Status of Employee Benefits, Paid Time Off, Expenses, and Equity.  

(a)    Except for any right you may have to continue your participation and that of your eligible dependents in the Company’s medical, dental, and vision plans under the federal law known as “COBRA,” your participation in all employee benefit plans of the Company will end as of the Separation Date, in accordance with the terms of those plans.  You acknowledge that you will not continue to earn paid time off or other similar benefits after the Separation Date.  You will receive information about your COBRA continuation rights under separate cover.

(b)    Within two (2) weeks following the Separation Date, you must submit your final expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement, and, in accordance with Company policy, reasonable substantiation and documentation for the same.  The Company will reimburse you for your authorized and documented expenses within thirty (30) days of receiving such statement pursuant to its regular business practice. 

(c)    Except as otherwise provided in Section 3(c) of this Agreement, your rights and obligations with respect to any stock options, restricted stock units, or other forms of equity interest granted to you by the Company during or in connection with your employment shall be governed by the applicable equity plan(s) and any agreements or other requirements applicable to those options, restricted stock units, or other equity interests.  Except as otherwise provided in Section 3(c) of this Agreement, all stock options, restricted stock units, or other equity interests which are unvested as of the Separation Date will be cancelled as of that date. 

6.    Continuing Obligations and Non-Disparagement.   

(a)    You acknowledge that, during the Transition Period and following the Separation Date, you continue to be bound by your obligations under the Employment Agreement between you and the Company, which you signed on May 19, 2016 (the “Employment Agreement”), that survive the termination of your employment by the terms thereof (the “Continuing Obligations”).  
(b)    For the avoidance of doubt, nothing contained in this Agreement, the Release, or the Continuing Obligations limits or in any other way affects your communicating or cooperating with any governmental agency or entity, or communicating with any official or staff person of a governmental agency or entity, concerning matters relevant to the governmental agency or entity. You will not be held criminally or civilly liable under any federal or state trade secret law for disclosing a trade secret in confidence to a government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or for disclosing a trade secret in a complaint or other document filed in a lawsuit or other proceeding, so long as such filing is made under seal. You may disclose a trade secret to your attorney in connection with filing a lawsuit for retaliation for reporting a suspected violation of law, and you may use 

4

Exhibit 10.1

the trade secret information in that court proceeding, so long as any document containing the trade secret is filed under seal; and you may not otherwise disclose the trade secret, except pursuant to court order.  Nothing in this Agreement, the Release, or the Continuing Obligations requires you to obtain prior authorization from the Company before engaging in any conduct described in this Section 6(b), or to notify the Company that you have engaged in any such conduct.  

(c)    Subject to Sections 6(b) and 9(b) of this Agreement, you agree that you will never disparage or criticize the Company, its Affiliates, their business, their management, or their products or services, and that you will not otherwise do or say anything that could disrupt the good morale of employees, clients, or prospects of the Company or any of its Affiliates or harm the interests or reputation of the Company or any of its Affiliates.  The Company agrees to instruct its Chief Executive Officer and his direct reports to never disparage or criticize you, and to instruct its Chief Executive Officer and his direct reports otherwise not to do or say anything with the intent of harming your interests or reputation.

(d)    In signing this Agreement, you represent and warrant that, since the Transition Date, you have complied with all of your obligations under this Agreement, including without limitation under this Section 6, and the Continuing Obligations.  

7.    Return of Company Documents and Other Property.  In signing this Agreement, you agree that, during the Transition Period, you will only use or access documents, materials, information, property, or systems of the Company and its Affiliates to the extent necessary to perform the job duties described in Section 1(c) of this Agreement, or with the prior written consent of the Chief Executive Officer or his designee.  You further represent and warrant that you will return to the Company upon the Separation Date, or immediately upon such other date as the Company may demand, any and all documents, materials and information (in any form) related to the business of the Company and its Affiliates (present or otherwise), and all keys, access cards, credit cards, computer hardware and software, telephones and all other property of the Company or any of its Affiliates in your possession or control.  Further, you represent and warrant that you will not make or retain following the Separation Date any copy or derivation of any documents, materials or information (in any form) of the Company or any of its Affiliates.  Recognizing that your employment with the Company will end on the Separation Date, you represent and warrant that you will not, after the Separation Date, for any purpose, attempt to access or use any information, computer, or computer network or system of the Company or any of its Affiliates, including without limitation the electronic mail system.  Further, you represent and warrant that you have disclosed to the Company all passwords necessary, desirable, or helpful to obtain access to all information which you have password-protected on any computer equipment, network, or system of the Company or any of its Affiliates.

5

Exhibit 10.1

8.    Employee Cooperation.  You agree to cooperate with the Company and its Affiliates hereafter with respect to all matters arising during or related to your employment, including but not limited to all matters in connection with any governmental investigation, litigation or regulatory or other proceeding which may have arisen or which may arise following the signing of this Agreement.  The Company will reimburse your out-of-pocket expenses incurred in complying with Company requests hereunder, provided such expenses are authorized by the Company in advance. 

9.    General Release of Claims. 

(a)    In exchange for the severance pay and benefits provided to you under this Agreement, to which you would not otherwise be entitled, on your own behalf and that of your heirs, executors, administrators, beneficiaries, personal representatives and assigns, you agree that this Agreement shall be in complete and final settlement of any and all causes of action, rights and claims (“Claims”), whether known or unknown, that you have had in the past, now have, or might now have against the Company, its Affiliates and all of their respective past, present and future directors, shareholders, officers, members, managers, general and limited partners, employees, employee benefit plans, administrators, attorneys, trustees, agents, representatives, successors and assigns, and all others connected with any of them, both individually and in their official capacities (collectively, the “Released Parties”). You hereby release and forever discharge the Released Parties, from any and all such Claims, including without limitation any and all Claims in any way related to, connected with or arising out of your employment or its termination, or pursuant to Title VII of the Civil Rights Act, the Americans with Disabilities Act, the Age Discrimination in Employment Act (ADEA), as amended by the Older Workers Benefit Protection Act, the Employee Retirement Income Security Act, the wage and hour, wage payment and fair employment practices laws and statutes of the Commonwealth of Massachusetts and any other state or states in which you have performed work for the Company (each as amended from time to time), any public policy, statutory, contract, tort, or common law, any basis for recovering costs, fees, or other expenses including attorneys’ fees, and/or any other federal, state or local law, regulation or other requirement. You acknowledge and agree that this is a general, and not a limited, release. 

(b)    Nothing in this Agreement shall be construed to prohibit or prevent you from filing a charge with or participating in any investigation or proceeding conducted by any federal, state, or local agency, provided, however, that you hereby agree to waive your right to recover monetary damages or other individual relief from the Company or any of its Affiliates in any charge, complaint or lawsuit filed by you or by anyone else on your behalf by, with or before any such agency.  
(c)    If any claim is not subject to release, to the extent permitted by law, you hereby waive any right or ability to be a class or collective action representative or to otherwise 

6

Exhibit 10.1

participate in any putative or certified class, collective or multi-party action or proceeding based on such a claim in which any of the Released Parties is a party.

(d)    This Agreement, including the general release of claims set forth in Section 9(a) above and the general release of claims attached hereto as Exhibit A, creates legally binding obligations and the Company and its Affiliates therefore advise you to consult an attorney before signing this Agreement and the Release.  In signing this Agreement, you give the Company and its Affiliates assurance that you have signed it voluntarily and with a full understanding of its terms; that you have had sufficient opportunity of not less than twenty-one (21) days, before signing this Agreement, to consider its terms and to consult with an attorney, if you wished to do so, or to consult with your immediate family members or your legal or tax advisors; and that, in signing this Agreement, you have not relied on any promises or representations, express or implied, that are not set forth expressly in this Agreement.

(e)    You agree to sign the Release by the later of seven (7) days following the Separation Date and twenty-one (21) days following the date hereof (and in no event before the Separation Date), and not to revoke the Release after you sign it.  You further agree that a signed and unrevoked Release is an express condition to your receipt and retention of the severance benefits described in Section 3 above.  Failure to sign the Release within this time period will result in a forfeiture of the severance benefits described herein.

10.    Section 409A. This Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code (the “Code”) and shall be interpreted and construed consistently with such intent. The payments to you pursuant to this Agreement are also intended to be exempt from Section 409A of the Code to the maximum extent possible.  Each payment made under this Agreement shall constitute a “separately identified” amount within the meaning of Treasury Regulation § 1.409A-2(b)(2).  Notwithstanding anything in this Agreement to the contrary, in the event that any amounts payable (or benefits provided) under this Agreement are subject to the provisions of Section 409A of the Code, to the extent determined necessary, the parties agree to amend this Agreement in the least restrictive manner necessary to avoid imposition of any additional tax or income recognition on you under Section 409A of the Code, the final Treasury Regulations and other Internal Revenue Service guidance thereunder (“409A Penalties”); provided, however, that in no event shall the Company be responsible for any 409A Penalties that arise in connection with any amounts payable under this Agreement. In addition, to the extent necessary to comply with Section 409A of the Code, references to Separation Date (and similar phrases) in this Agreement shall be interpreted in a manner that is consistent with the term “separation from service” under Section 409A(a)(2)(A)(i) of the Code and final Treasury Regulations and other Internal Revenue Service guidance thereunder. Notwithstanding any provision of this Agreement to the contrary, if you are a “specified employee” of the Company (as defined in Section 409A of the Code), amounts subject to Code Section 409A that 

7

Exhibit 10.1

would otherwise have been paid to or on behalf of you under the foregoing provisions of this Agreement during the six-month period immediately following the Separation Date shall be paid on the first regular payroll date immediately following the six-month anniversary of the Separation Date.

11.    Nonadmission of Wrongdoing. You agree that neither this Agreement nor the furnishing of the consideration for this Agreement shall be deemed or construed at any time for any purpose as an admission by the Released Parties of wrongdoing or evidence of any liability or unlawful conduct of any kind.

12.    Employee Representations. In signing this Agreement, you represent and agree that, as of the date you sign this Agreement:

(a)     You have been paid or provided with all compensation, wages, bonuses, commissions, and/or benefits which are due and payable to you through such date;
(b)    You have been granted any leave or accommodation to which you were entitled under the Family and Medical Leave Act, the Americans with Disabilities Act, or related or similar state or local leave or disability accommodation laws;
(c)    You have no known workplace injuries or occupational diseases;
(d)    You have not divulged any proprietary, confidential or privileged information of the Company and will continue to maintain the confidentiality of such information consistent with Company policy, the Continuing Obligations, this Agreement, and your legal obligations;
(e)    You have not been retaliated against for reporting any allegations of wrongdoing by the Company, its Affiliates or their respective officers or employees, including any allegations of corporate fraud; and 
(f)    All of the Company’s decisions regarding your employment, the terms and conditions of your employment, and your pay and benefits through the Separation Date were not discriminatory based on age, disability, race, color, sex, religion, national origin or any other classification protected by applicable law, and were not retaliatory.
13.    Miscellaneous. 

(a)    This Agreement constitutes the entire agreement between you and the Company, and supersedes all prior and contemporaneous communications, agreements and understandings, whether written or oral, with respect to your employment, its termination and all related matters, including without limitation the terms of Section 7(d) of the Employment Agreement, and excluding only (i) the Continuing Obligations, (ii) any loan or other amount you 

8

Exhibit 10.1

owe to the Company, (iii) the most recent indemnification agreement between you and the Company, and (iv) your obligations with respect to the securities of the Company, all of which shall remain in full force and effect in accordance with their terms.   

(b)    This Agreement may not be modified or amended, and no breach shall be deemed to be waived, unless agreed to in writing by you and the General Counsel of the Company or his expressly authorized designee. The captions and headings in this Agreement are for convenience only, and in no way define or describe the scope or content of any provision of this Agreement.  

(c)    You agree that, any modifications, material or otherwise, made to this Agreement, do not restart or affect in any manner the original consideration period of 21 days.

(d)    The obligation of the Company to make payments or provide benefits to you or on your behalf under this Agreement, and your right to retain the same, is expressly conditioned upon your continued full performance of your obligations under this Agreement and the Continuing Obligations. 

(e)    This is a Massachusetts contract and shall be governed and construed in accordance with the laws of the Commonwealth of Massachusetts, without regard to any conflict of laws principles that would result in the application of the laws of any other jurisdiction.  You agree to submit to the exclusive jurisdiction of the state and federal courts of the Commonwealth of Massachusetts in connection with any dispute arising out of this Agreement. 

As described on the first page of this Agreement, if the terms of this Agreement are acceptable to you, please sign, date and return it to me within twenty-one (21) days of the date you receive it.  You may revoke this Agreement at any time during the seven-day period immediately following the date of your signing by notifying me in writing of your revocation within that period.  If you revoke this Agreement as described in the preceding sentence, then this Agreement shall not take effect.  If you do not revoke this Agreement, then, on the eighth day following the date that you signed it, this Agreement shall take effect as a legally binding agreement between you and the Company on the basis set forth above.  

9

Exhibit 10.1

I want to thank you for all of your efforts on behalf of the Company and to wish you well in your future endeavors.

Sincerely,
ATHENAHEALTH, INC.

By:    /s/ Dan Haley__________________________
Daniel Haley,  
Senior Vice President and General Counsel
Accepted and agreed:

Signature:  /s/ Karl Stubelis_______________
Karl Stubelis

Date:  __July 10, 2017___________________

10

Exhibit 10.1

Exhibit A
Post-Employment General Release and Waiver of Claims

For and in consideration of certain benefits to be provided to me under the letter agreement between me and athenahealth, Inc. (the “Company”), dated as of July 10, 2017 (the “Agreement”), which are conditioned on my signing this General Release and Waiver of Claims (this “Release of Claims”), and to which I am not otherwise entitled, and other good and valuable consideration, the receipt and sufficiency of which I hereby acknowledge, on my own behalf and on behalf of my heirs, executors, administrators, beneficiaries, representatives, successors and assigns, and all others connected with or claiming through me, I hereby release and forever discharge the Company and its Affiliates (as defined in the Agreement), and all of their respective past, present and future officers, directors, shareholders, members, managers, general and limited partners, employees, employee benefit plans, administrators, attorneys, trustees, agents, representatives, consultants, successors and assigns, and all those connected with any of them, in their official and individual capacities (collectively, the “Released Parties”), from any and all causes of action, rights and claims, whether known or unknown, which I have had in the past, now have or might now have against the Released Parties, or any of them, including without limitation any and all causes of action, rights and claims in any way related to, connected with or arising out of my employment and/or other relationship with the Company or any of its Affiliates, or the termination thereof, or pursuant to Title VII of the Civil Rights Act, the Americans With Disabilities Act, the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act, the Employee Retirement Income Security Act, the wage and hour, wage payment and fair employment practices laws of the Commonwealth of Massachusetts and any other state in which I have provided services to the Company (each as amended from time to time), any public policy, contract, tort or common law, any basis for recovering costs, fees, or other expenses including attorneys’ fees, and/or any other federal, state or local law, regulation or other requirement (collectively, the “Claims”) through the date that I sign this Release of Claims, and I hereby waive all such Claims.  I acknowledge and agree that this is a general, and not a limited, release.

I understand that nothing in this Agreement shall be construed to prohibit or prevent me from filing a charge with or participating in any investigation or proceeding conducted by any federal, state, or local agency, provided, however, that I hereby agree to waive my right to recover monetary damages or other individual relief from the Company or any of its Affiliates in any charge, complaint or lawsuit filed by me or by anyone else on my behalf by, with or before any such agency.  
If any claim is not subject to release, to the extent permitted by law, I hereby waive any right or ability to be a class or collective action representative or to otherwise participate in any 

11

Exhibit 10.1

putative or certified class, collective or multi-party action or proceeding based on such a claim in which any of the Released Parties is a party.

In signing this Release of Claims, I represent that, as of the date I sign this Release of Claims:

(a)    I have been paid or provided with all compensation, wages, bonuses, commissions, and/or benefits which are due and payable to me;
(b)    I have been granted any leave or accommodation to which I was entitled under the Family and Medical Leave Act, the Americans with Disabilities Act, or related or similar state or local leave or disability accommodation laws;
(c)    I have no known workplace injuries or occupational diseases;
(d)    I have not divulged any proprietary, confidential or privileged information of the Company and I will continue to maintain the confidentiality of such information consistent with Company policy, the Continuing Obligations, the Agreement, and my legal obligations;
(e)    I have not been retaliated against for reporting any allegations of wrongdoing by the Company, its Affiliates or their respective officers or employees, including any allegations of corporate fraud; and 
(f)    All of the Company’s decisions regarding my employment, the terms and conditions of my employment, and my pay and benefits through the Separation Date (as defined in the Agreement) were not discriminatory based on age, disability, race, color, sex, religion, national origin or any other classification protected by law, and were not retaliatory.
I acknowledge that this Release of Claims creates legally binding obligations, and that the Company hereby advises me to consult an attorney before signing it.  I further acknowledge that I may not sign this Release of Claims prior to the Separation Date.  In signing this Release of Claims, I give the Company assurance that I have signed it voluntarily and with a full understanding of its terms; that I have had sufficient opportunity of not less than twenty-one (21) days before signing this Release of Claims to consider its terms and to consult with an attorney, if I wished to do so, or to consult with my immediate family members or my legal or tax advisors; and that I have not relied on any promises or representations, express or implied, that are not set forth expressly in this Release of Claims.  I understand that I will have seven (7) days after signing this Release of Claims to revoke my signature, and that, if I intend to revoke my signature, I must do so in writing addressed and delivered to the Company’s General Counsel prior to the end of the seven (7)-day revocation period.  I understand that, if I revoke this Release of Claims as described in the preceding sentence, then this Release of Claims shall not take effect.  I understand that this Release of Claims will become effective upon the eighth (8th) day following the date that I sign it, provided that I do not revoke my acceptance in accordance with this paragraph.

12

Exhibit 10.1

13

Exhibit 10.1

Accepted and agreed:

Signature:    ____________________________
Karl Stubelis
    
Date:      ____________________________

14

Exhibit 10.1

Exhibit B 
Vesting of Restricted Stock Units

	
			
	Award No.
	Vest Date
	Number of RSUs Vesting

	5655
	9/3/2017
	1,375

	11731
	6/1/2018
	3,125

	 
	TOTAL
	4,500

15

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