Document:

EX-10.11

 Exhibit 10.11 

INVUITY, INC. 

EXECUTIVE EMPLOYMENT AGREEMENT 

This Employment Agreement (the “Agreement”) is entered into by and between Invuity, Inc. (the “Company”), and Paul Davison
(“Executive”) as of the date the Company and Executive have each executed this Agreement, as set forth below. The terms of this Agreement will become effective on the effective date of the first registration statement that is filed by the
Company and declared effective pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended, with respect to any class of the Company’s securities (the “Effective Date”). 

1. Duties and Scope of Employment. 

(a) Positions and Duties. As of the Effective Date, Executive will continue to serve as the Company’s Vice President of Research
and Development. Executive will render such business and professional services in the performance of Executive’s duties, consistent with Executive’s position within the Company, as will reasonably be assigned to him by the Company’s
Board of Directors (the “Board”). The period of Executive’s employment under this Agreement is referred to herein as the “Employment Term.” 

(b) Obligations. During the Employment Term, Executive will perform his duties faithfully and to the best of his ability and will
devote his full business efforts and time to the Company. For the duration of the Employment Term, Executive agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the
prior approval of the Board. Executive further agrees to comply with all Company policies, including, for the avoidance of any doubt, any insider trading policies and compensation clawback policies currently in existence or that may be adopted by
the Company during the Employment Term. 
 2. At-Will Employment. The parties agree that Executive’s employment with the Company
will be “at-will” employment and may be terminated at any time with or without cause or notice. Executive understands and agrees that neither his job performance nor promotions, commendations, bonuses or the like from the Company give rise
to or in any way serve as the basis for modification, amendment, or extension, by implication or otherwise, of his employment with the Company. However, as described in this Agreement, Executive may be entitled to severance benefits depending on the
circumstances of Executive’s termination of employment with the Company. 
 3. Compensation. 

(a) Base Salary. During the Employment Term, the Company will pay Executive an annual salary of $250,000 as compensation for his
services (as adjusted from time to time, the “Base Salary”). The Base Salary will be paid periodically in accordance with the Company’s normal payroll practices and be subject to the usual, required withholdings. 

(b) Target Bonus. Executive will be eligible to receive an annual bonus of up to forty percent (40%) of Executive’s Base
Salary, less applicable withholdings, upon achievement of 

 
performance objectives to be determined by the Board in its sole discretion (the “Target Bonus”). The Target Bonus, or any portion thereof, will be paid as soon as practicable after the
Board determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned. 

(c) Review and Adjustments. Executive’s Base Salary, Target Bonus, and other compensatory arrangements will be subject to review
and adjustment in accordance with the Company’s applicable policies, subject to Executive’s ability to resign for Good Reason and receive severance benefits as set forth in Section 7. 

4. Employee Benefits. During the Employment Term, Executive will be entitled to participate in the employee benefit plans currently and
hereafter maintained by the Company of general applicability to other senior executives of the Company. The Company reserves the right to cancel or change the benefit plans and programs it offers to its employees at any time. 

5. Vacation. Executive will be entitled to paid vacation of fifteen (15) business days per year in accordance with the
Company’s vacation policy, with the timing and duration of specific days off mutually and reasonably agreed to by the parties hereto. 

6. Expenses. The Company will reimburse Executive for reasonable travel, entertainment or other expenses incurred by Executive in the
furtherance of or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. 

7. Severance Benefits. 

(a) Termination Outside the Change of Control Period. If, outside the Change of Control Period, the Company or its Affiliates terminate
Executive’s employment with the Company or its Affiliates, respectively, other than for Cause, death or Disability, or Executive resigns from such employment for Good Reason, then, subject to Section 8, Executive will receive the following
severance benefits: 
 (i) Salary Severance. Continuing payments of severance pay at a rate equal to Executive’s Base Salary,
at the highest rate in effect during the Employment Term, for nine (9) months from the date of Executive’s termination of employment, which will be paid in accordance with the Company’s regular payroll procedures. 

(ii) Continued Employee Benefits. If Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation
Act of 1985, as amended (“COBRA”) within the time period prescribed pursuant to COBRA for Executive and Executive’s eligible dependents, the Company will reimburse Executive for the premiums necessary to continue group health
insurance benefits for Executive and Executive’s eligible dependents until the earlier of (A) a period of nine (9) months from the date of Executive’s termination of employment, (B) the date upon which Executive and/or
Executive’s eligible dependents becomes covered under similar plans or (C) the date upon which Executive ceases to be eligible for coverage under COBRA (such reimbursements, the “COBRA Premiums”). However, if the Company
determines in its sole 

  
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discretion that it cannot pay the COBRA Premiums without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will
in lieu thereof provide to Executive a taxable monthly payment payable on the last day of a given month (except as provided by the following sentence), in an amount equal to the monthly COBRA premium that Executive would be required to pay to
continue Executive’s group health coverage in effect on the date of Executive’s termination of employment (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether
Executive elects COBRA continuation coverage and will commence on the month following Executive’s termination of employment and will end on the earlier of (x) the date upon which Executive obtains other employment or (y) the date the
Company has paid an amount equal to nine (9) payments. For the avoidance of doubt, the taxable payments in lieu of COBRA Premiums may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject
to all applicable tax withholdings. Notwithstanding anything to the contrary under this Agreement, if at any time the Company determines in its sole discretion that it cannot provide the payments contemplated by the preceding sentence without
violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), Executive will not receive such payment or any further reimbursements for COBRA premiums. 

(b) Termination without Cause or Resignation for Good Reason within the Change of Control Period. If, within the Change of Control
Period, the Company or its Affiliates terminate Executive’s employment with the Company or its Affiliates, respectively, other than for Cause, death or Disability, or Executive resigns from such employment for Good Reason, then, subject to
Section 8, Executive will receive the following severance benefits from the Company: 
 (i) Salary Severance. A lump sum
severance payment equal to eighteen (18) months of Executive’s Base Salary, at the highest rate in effect during the Employment Term, which will be paid in accordance with the Company’s regular payroll procedures. For the avoidance of
doubt, if (A) Executive incurred a termination prior to a Change of Control that qualifies Executive for severance payments under Section 7(a)(i); and (B) a Change of Control occurs within the three (3)-month period following
Executive’s termination of employment that qualifies Executive for the superior benefits under this Section 7b)(i), then Executive shall be entitled to a lump-sum payment of the amount calculated under this Section 7(b)(i), less
amounts already paid under Section 7(a)(i). 
 (ii) Bonus Severance. Executive will receive a lump-sum payment, payable in
accordance with the Company’s regular payroll procedures, equal to one-hundred and fifty percent (150%) of the higher of (A) Executive’s target bonus as in effect for the fiscal year in which the Change of Control occurs or
(B) Executive’s target bonus as in effect for the fiscal year in which Executive’s termination of employment occurs. For avoidance of doubt, the amount paid to Executive pursuant to this Section 7(b)(ii) will not be prorated
based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs. 

(iii) Continued Employee Benefits. If Executive elects continuation coverage pursuant to COBRA within the time period prescribed
pursuant to COBRA for Executive and Executive’s eligible dependents, the Company will reimburse Executive for the premiums necessary to continue group health insurance benefits for Executive and Executive’s eligible

  
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dependents until the earlier of (A) a period of eighteen (18) months from the date of Executive’s termination of employment, (B) the date upon which Executive and/or
Executive’s eligible dependents becomes covered under similar plans or (C) the date upon which Executive ceases to be eligible for coverage under COBRA (such reimbursements, the “COC COBRA Premiums”). However, if the Company
determines in its sole discretion that it cannot pay the COC COBRA Premiums without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to
Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s group health coverage in effect on the date of Executive’s termination of employment (which
amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage and will commence on the month following Executive’s termination of
employment and will end on the earlier of (x) the date upon which Executive obtains other employment or (y) the date the Company has paid an amount equal to eighteen (18) payments. For the avoidance of doubt, the taxable payments in
lieu of COBRA Premiums may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject to all applicable tax withholdings. Notwithstanding anything to the contrary under this Agreement, if at any
time the Company determines in its sole discretion that it cannot provide the payments contemplated by the preceding sentence without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act),
Executive will not receive such payment or any further reimbursements for COBRA premiums. 
 (c) Equity. Vesting acceleration of one
hundred percent (100%) of Executive’s outstanding unvested Equity Awards on the date of Executive’s termination. If, however, an outstanding Equity Award is to vest and/or the amount of the Equity Award to vest is to be determined
based on the achievement of performance criteria, then the Equity Award will vest as to one hundred percent (100%) of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant
performance period(s). 
 (d) Voluntary Resignation; Termination for Cause. If Executive’s employment with the Company or its
Affiliates terminates (i) voluntarily by Executive (other than for Good Reason) or (ii) for Cause by the Company, then Executive will not be entitled to receive severance or other benefits except for those (if any) as may then be
established under the Company’s then existing severance and benefits plans and practices or pursuant to other written agreements with the Company. 

(e) Disability; Death. If the Company terminates Executive’s employment as a result of Executive’s Disability, or
Executive’s employment terminates due to Executive’s death, then Executive will not be entitled to receive severance or other benefits except for those (if any) as may then be established under the Company’s then existing written
severance and benefits plans and practices or pursuant to other written agreements with the Company. 
 (f) Accrued Compensation. For
the avoidance of any doubt, in the event of a termination of Executive’s employment with the Company or its Affiliates, Executive will be entitled to receive all accrued but unpaid vacation, expense reimbursements, wages, and other benefits due
to Executive under any Company-provided plans, policies, and arrangements. 

  
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 (g) Transfer between the Company and Affiliates. For purposes of this Section 7, if
Executive’s employment with the Company or one of its Affiliates terminates, Executive will not be determined to have been terminated without Cause, provided Executive continues to remain employed by the Company or one of its Affiliates (e.g.,
upon transfer from on Affiliate to another); provided, however, that the parties understand and acknowledge that any such termination could potentially result in Executive’s ability to resign for Good Reason. 

(h) Exclusive Remedy. In the event of a termination of Executive’s employment with the Company or its Affiliates, the provisions
of this Section 7 are intended to be and are exclusive and in lieu of any other rights or remedies to which Executive or the Company may otherwise be entitled, whether at law, tort or contract, in equity. Executive will be entitled to no
benefits, compensation or other payments or rights upon termination of employment other than those benefits expressly set forth in this Section 7. 

8. Conditions to Receipt of Severance. 

(a) Separation Agreement and Release of Claims. The receipt of any severance pursuant to Sections 7(a) or (b) will be subject to
(i) Executive resigning from all positions Executive may hold as an officer or director of the Company or any Affiliates and executing all documents the Company determines, in its sole discretion, are necessary to effectuate such resignations
prior to the Release Deadline (as defined below) (such resignation and execution of applicable documents, the “Resignations”), and (ii) Executive signing and not revoking a separation agreement and release of claims in a form
reasonably satisfactory to the Company (the “Release”) and provided that such Release becomes effective and irrevocable no later than sixty (60) days following the termination date (such deadline, the “Release Deadline”). If
the Resignations and the Release do not become effective and irrevocable by the Release Deadline, Executive will forfeit any rights to severance or benefits under this Agreement. In no event will severance payments or benefits be paid or provided
until the Resignations and the Release become effective and irrevocable. Except as required by Section 8(b), any installment payments that would have been made to Executive prior to the Resignations and the Release becoming effective and
irrevocable but for the preceding sentence will be paid to Executive on the first regularly scheduled Company payroll date following the date the Resignations and the Release becomes effective and irrevocable, and the remaining payments will be made
as provided in the Agreement. 
 (b) Section 409A. 

(i) Notwithstanding anything to the contrary in this Agreement, no Deferred Payments will be paid or otherwise provided until Executive has a
“separation from service” within the meaning of Section 409A. Similarly, no severance payable to Executive, if any, pursuant to this Agreement that otherwise would be exempt from Section 409A pursuant to Treasury Regulation
Section 1.409A-1(b)(9) will be payable until Executive has a “separation from service” within the meaning of Section 409A. 

(ii) Any severance payments or benefits under this Agreement that would be considered Deferred Payments will be paid on, or, in the case of
installments, will not commence until, the sixtieth (60th) day following Executive’s separation from service, or, if later, such time as required by Section 8(b)(iii). Except as required by Section 8(b)(iii), any installment
payments that 

  
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would have been made to Executive during the sixty (60) day period immediately following Executive’s separation from service but for the preceding sentence will be paid to Executive on
the sixtieth (60th) day following Executive’s separation from service and the remaining payments shall be made as provided in this Agreement. In no event will Executive have discretion to determine the taxable year of payment for any
Deferred Payments. 
 (iii) Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee”
within the meaning of Section 409A at the time of Executive’s separation from service (other than due to death), then the Deferred Payments that are payable within the first six (6) months following Executive’s separation from
service, will, to the extent required to be delayed pursuant to Section 409A(a)(2)(B) of the Code, become payable on the date six (6) months and one (1) day following the date of Executive’s separation from service. All
subsequent Deferred Payments, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s separation from
service, but prior to the six (6) month anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of
Executive’s death and all other Deferred Payments will be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute a separate payment
for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. 
 (iv) Any amount paid under this Agreement that satisfies the
requirements of the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Payments. 

(v) Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation from service pursuant to
Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit (as defined below) will not constitute Deferred Payments. 

(vi) The foregoing provisions and all compensation and benefits provided for under this Agreement are intended to comply with or be exempt
from the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be
interpreted to be exempt or so comply. The Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of
any additional tax or income recognition prior to actual payment to Executive under Section 409A. In no event will the Company reimburse Executive for any taxes that may be imposed on Executive as a result of Section 409A. 

9. Limitation on Payments. In the event that the severance and other benefits provided for in this Agreement or otherwise payable to
Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) but for this Section 9, would be subject to the excise
tax imposed by Section 4999 of the Code, then Executive’s severance benefits under Section 7 will be either: 
 (a) delivered
in full, or 

  
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 (b) delivered as to such lesser extent which would result in no portion of such severance
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 taxes and the excise tax imposed by Section 4999 of the Code, results in the receipt by Executive on an after-tax basis, of the greatest amount of severance benefits, notwithstanding that all or some portion of such
severance benefits may be taxable under Section 4999 of the Code. If a reduction in severance and other benefits constituting “parachute payments” is necessary so that benefits are delivered to a lesser extent, reduction will occur in
the following order: (i) reduction of cash payments; (ii) cancellation of awards granted “contingent on a change in ownership or control” (within the meaning of Code Section 280G); (iii) cancellation of accelerated
vesting of equity awards; or (iv) reduction of employee benefits. In the event that acceleration of vesting of equity award compensation is to be reduced, such acceleration of vesting will be cancelled in the reverse order of the date of grant
of Executive’s equity awards. 
 Unless the Company and Executive otherwise agree in writing, any determination required under this Section 9 will
be made in writing by a nationally recognized certified professional services firm selected by the Company, the Company’s legal counsel or such other person or entity to which the parties mutually agree (the “Firm”) immediately prior
to Change of Control, whose determination will be conclusive and binding upon Executive and the Company for all purposes. For purposes of making the calculations required by this Section 9, the Firm may make reasonable assumptions and
approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and Executive will furnish to the Firm such information and
documents as the Accountants may reasonably request in order to make a determination under this Section. The Company will bear all costs the Firm may reasonably incur in connection with any calculations contemplated by this Section 5. 

10. Definition of Terms. The following terms referred to in this Agreement will have the following meanings: 

(a) Affiliate. “Affiliate” means the Company and any other parent or subsidiary corporation of the Company, as such terms are
defined in Section 424(e) and (1) of the Code. 
 (b) Cause. “Cause” means the occurrence of any of the following
events, as determined by the Board or a committee designated by the Board, in its sole discretion: (i) Executive’s conviction of, or plea of nolo contendere to, any felony; (ii) Executive’s commission of any act of fraud with
respect to the Company, (iii) any intentional misconduct by Executive that has a materially adverse effect upon the Company’s business, (iv) a breach by Executive of any of Executive’s fiduciary obligations as an officer of the
Company, (v) Executive’s willful misconduct or gross negligence in performance of Executive’s duties hereunder, including Executive’s refusal to comply in any material respect with the legal directives of the Board so long as
such directives are not inconsistent with Executive’s position and duties, (vi) Executive’s death or permanent disability, or (vii) Executive’s material violation of any of the Company’s policies and procedures. 

  
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 (c) Change of Control. “Change of Control” means the occurrence of any of the
following events: 
 (i) A change in the ownership of the Company which occurs on the date that any one person, or more than one person
acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; provided,
however, that for purposes of this subsection, the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the Company will not be considered a Change
of Control; or 
 (ii) A change in the effective control of the Company which occurs on the date that a majority of members of the Board is
replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person
is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change of Control; or 

(iii) A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or
has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than fifty percent
(50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not constitute a change in
the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by the Company to:
(1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, fifty percent (50%) or more of the total value or voting power of which is
owned, directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity, at least
fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross fair market value means the value of the assets
of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 

For purposes of this definition, persons will be considered to be acting as a group if they are owners of a corporation that enters into a
merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 
 Notwithstanding the
foregoing, a transaction will not be deemed a Change of Control unless the transaction qualifies as a change in control event within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or
final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time. 

Further and for the avoidance of doubt, a transaction will not constitute a Change of Control if: (i) its sole purpose is to change the
state of the Company’s incorporation, or 

  
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(ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such
transaction. 
 (d) Change of Control Period. “Change of Control Period” means the period beginning on the date three
(3) months prior to, and ending on the date that is twelve (12) months following, a Change of Control. 
 (e) Code.
“Code” means the Internal Revenue Code of 1986, as amended. 
 (f) Deferred Payment. “Deferred Payment” means any
severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are
considered deferred compensation under Section 409A. 
 (g) Disability. “Disability” means that the Employee has been
unable to perform Executive’s Company duties as the result of Executive’s incapacity due to physical or mental illness, and such inability, at least twenty-six (26) weeks after its commencement or 180 days in any consecutive twelve
(12) month period, is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to Executive or Executive’s legal representative (such agreement as to acceptability not to be unreasonably
withheld). Termination resulting from Disability may only be effected after at least thirty (30) days’ written notice by the Company of its intention to terminate the Employee’s employment. In the event that the Employee resumes the
performance of substantially all of Executive’s duties hereunder before the termination of Executive’s employment becomes effective, the notice of intent to terminate will automatically be deemed to have been revoked. 

(h) Equity Awards. “Equity Awards” means Executive’s outstanding stock options, stock appreciation rights, restricted
stock, restricted stock units, performance shares, performance stock units and any other Company equity compensation awards. 
 (i) Good
Reason. “Good Reason” means Executive’s resignation within thirty (30) days following the expiration of any Company cure period (discussed below) following the occurrence of one or more of the following, without
Executive’s express written consent: (i) a material reduction in job duties, responsibilities and requirements inconsistent with Executive’s position with the Company and Executive’s prior duties, responsibilities and
requirements in effect prior to such reduction, provided, however, that a reduction in job duties, responsibilities and requirements by virtue of the Company being acquired and made part of a larger entity (as for example, when the Chief Executive
Officer of the Company remains as such following a Change of Control but is not made the Chief Executive Officer of the acquiring corporation) will not constitute “Good Reason”; (ii) a material reduction of Executive’s base
salary (other than in connection with a general decrease in base salaries or target bonuses for most similarly-situated employees); or (iii) Executive’s refusal to relocate the principal place for performance of Company duties to a
location more than fifty (50) miles from the Company’s then-present location. Executive’s resignation will not be deemed to be for Good Reason unless Executive has first provided the Company with written notice of the acts or
omissions constituting the grounds for “Good Reason” within ninety (60) days of the initial existence of the grounds for “Good Reason” and a reasonable cure period of not less than thirty (30) days following the date
the Company receives such notice, and such condition has not been cured during such period. 

  
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 (j) Proprietary Information and Inventions Agreement. “Proprietary Information and
Inventions Agreement” means the Employee Invention Assignment and Confidentiality Agreement executed by the Company and Executive on November 17, 2014. 

(k) Section 409A. “Section 409A” means Section 409A of the Code and any final regulations and guidance thereunder
and any applicable state law equivalent, as each may be amended or promulgated from time to time. 
 (l) Section 409A Limit.
“Section 409A Limit” will mean two (2) times the lesser of: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during the Executive’s taxable year preceding the Executive’s
taxable year of Executive’s separation from service as determined under Treasury Regulation Section 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may
be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Internal Revenue Code for the year in which Executive’s separation from service occurred. 

11. Non-Solicitation. Executive agrees to continue to follow and comply with the terms and conditions of the Proprietary Information
and Inventions Agreement. 
 12. Confidential Information. Executive agrees to continue to follow and comply with the terms and
conditions of the Proprietary Information and Inventions Agreement. 
 13. Assignment. This Agreement will be binding upon and inure
to the benefit of (a) the heirs, executors and legal representatives of Executive upon Executive’s death and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under the
terms of this Agreement for all purposes. For this purpose, “successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or
substantially all of the assets or business of the Company. None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution.
Any other attempted assignment, transfer, conveyance or other disposition of Executive’s right to compensation or other benefits will be null and void. 

14. Notices. All notices, requests, demands and other communications called for hereunder will be in writing and will be deemed given
(i) on the date of delivery if delivered personally, (ii) one (1) day after being sent by a well-established commercial overnight service, or (iii) four (4) days after being mailed by registered or certified mail, return
receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing: 

If to the Company: 
 Invuity,
Inc. 
 Attn: Chief Financial Officer 

444 De Haro Street 
 San
Francisco, CA 94107 

  
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 If to Executive: 

at the last residential address known by the Company. 

15. Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal,
unenforceable or void, this Agreement will continue in full force and effect without said provision. 
 16. Arbitration. 

(a) Arbitration. In consideration of Executive’s employment with the Company, its promise to arbitrate all employment-related
disputes, and Executive’s receipt of the compensation, pay raises and other benefits paid to Executive by the Company, at present and in the future, Executive agrees that any and all controversies, claims, or disputes with anyone (including the
Company and any employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from Executive’s employment with the Company or termination thereof,
including any breach of this Agreement, will be subject to binding arbitration under the Arbitration Rules set forth in California Code of Civil Procedure Section 1280 through 1294.2, including Section 1281.8 (the “Act”), and
pursuant to California law. The Federal Arbitration Act shall also apply with full force and effect, notwithstanding the application of procedural rules set forth under the Act. 

(b) Dispute Resolution. Disputes that Executive agrees to arbitrate, and thereby agrees to waive any right to a trial by jury,
include any statutory claims under local, state, or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act of
1967, the Older Workers Benefit Protection Act, the Sarbanes Oxley Act, the Worker Adjustment and Retraining Notification Act, the California Fair Employment and Housing Act, the Family and Medical Leave Act, the California Family Rights Act, the
California Labor Code, claims of harassment, discrimination, and wrongful termination, and any statutory or common law claims. Executive further understands that this Agreement to arbitrate also applies to any disputes that the Company may have with
Executive. 
 (c) Procedure. Executive agrees that any arbitration will be administered by the Judicial Arbitration &
Mediation Services, Inc. (“JAMS”), pursuant to its Employment Arbitration Rules & Procedures (the “JAMS Rules”). The arbitrator shall have the power to decide any motions brought by any party to the arbitration,
including motions for summary judgment and/or adjudication, motions to dismiss and demurrers, and motions for class certification, prior to any arbitration hearing. The arbitrator shall have the power to award any remedies available under applicable
law, and the arbitrator shall award attorneys’ fees and costs to the prevailing party, except as prohibited by law. The Company will pay for any administrative or hearing fees charged by the administrator or JAMS, and all arbitrators’
fees, except that Executive shall pay any filing fees associated with any arbitration that Executive initiates, but only so much of the filing fee as Executive would have instead paid had Executive filed a complaint in a court of law. Executive
agrees that the arbitrator shall administer and conduct any arbitration in accordance with California 

  
 -11- 

 
law, including the California Code of Civil Procedure and the California Evidence Code, and that the arbitrator shall apply substantive and procedural California law to any dispute or claim,
without reference to the rules of conflict of law. To the extent that the JAMS Rules conflict with California law, California law shall take precedence. The decision of the arbitrator shall be in writing. Any arbitration under this Agreement shall
be conducted in San Diego County, California. 
 (d) Remedy. Except as provided by the Act, arbitration shall be the sole, exclusive,
and final remedy for any dispute between Executive and the Company. Accordingly, except as provided by the Act and this Agreement, neither Executive nor the Company will be permitted to pursue court action regarding claims that are subject to
arbitration. Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator will not order or require the Company to adopt a policy not otherwise required by law which
the Company has not adopted. 
 (e) Administrative Relief. Executive is not prohibited from pursuing an administrative claim with a
local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to, the Department of Fair Employment and Housing, the Equal Employment Opportunity
Commission, the National Labor Relations Board, or the Workers’ Compensation Board. However, Executive may not pursue court action regarding any such claim, except as permitted by law. 

(f) Voluntary Nature of Agreement. Executive acknowledges and agrees that Executive is executing this Agreement voluntarily and without
any duress or undue influence by the Company or anyone else. Executive further acknowledges and agrees that Executive has carefully read this Agreement and that Executive has asked any questions needed for Executive to understand the terms,
consequences and binding effect of this Agreement and fully understands it, including that EXECUTIVE IS WAIVING EXECUTIVE’S RIGHT TO A JURY TRIAL. Finally, Executive agrees that Executive has been provided an
opportunity to seek the advice of an attorney of Executive’s choice before signing this Agreement. 
 17. Integration. This
Agreement and the Proprietary Information and Inventions Agreement represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral.
This Agreement may be modified only by agreement of the parties by a written instrument executed by the parties that is designated as an amendment to this Agreement. 

18. Waiver of Breach. The waiver of a breach of any term or provision of this Agreement, which must be in writing, will not operate as
or be construed to be a waiver of any other previous or subsequent breach of this Agreement. 
 19. Headings. All captions and
section headings used in this Agreement are for convenient reference only and do not form a part of this Agreement. 
 20. Tax
Withholding. All payments made pursuant to this Agreement will be subject to withholding of applicable taxes. 
 21. Governing
Law. This Agreement will be governed by the laws of the State of California (with the exception of its conflict of laws provisions). 

  
 -12- 

 22. Acknowledgment. Executive acknowledges that he has had the opportunity to discuss this
matter with and obtain advice from his private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement. 

23. Counterparts. This Agreement may be executed in counterparts, and each counterpart will have the same force and effect as an
original and will constitute an effective, binding agreement on the part of each of the undersigned. 

  
 -13- 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company
by their duly authorized officers, as of the day and year set forth below. 
  

							
	COMPANY:				
			
	INVUITY, INC.				
				
	By:		 /s/ Philip Sawyer
				Date: May 19, 2015
				
	Title:		Chief Executive Officer				
			
	EXECUTIVE:				
			
	 /s/ Paul Davison
				Date: May 19, 2015
	PAUL DAVISON				

 [SIGNATURE PAGE TO EXECUTIVE EMPLOYMENT AGREEMENT] 

  
 -14-Exhibit 10.1-Seventh Supplemental Indenture

SEVENTH SUPPLEMENTAL INDENTURE
SEVENTH SUPPLEMENTAL INDENTURE, dated as of May 28, 2015 (this “Supplemental Indenture”), by and among Regency Energy Partners LP, a Delaware limited partnership (“Regency Energy Partners”), Regency Energy Finance Corp., a Delaware corporation (“Finance Corp.” and, together with Regency Energy Partners, the “Issuers”), Panhandle Eastern Pipe Line Company, LP, a Delaware limited partnership (the “PEPL Guarantor”), Energy Transfer Partners, L.P., a Delaware limited partnership (“ETP”), the subsidiary guarantors party hereto (the “Existing Guarantors”) and Wells Fargo Bank, National Association, as trustee under the Indenture referred to below (in such capacity, the “Trustee”).  All capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Indenture (as defined below).
W I T N E S S E T H
WHEREAS, the Issuers, the Existing Guarantors and the Trustee have heretofore executed and delivered the Indenture, dated as of April 30, 2013 (as amended, supplemented or otherwise modified to date, including without limitation pursuant to this Supplemental Indenture, the “Indenture”);
WHEREAS, the Issuers’ 41⁄2% Senior Notes due 2023 (the “Outstanding Notes”) have been issued pursuant to the Indenture and are outstanding as of the date of this Supplemental Indenture;
WHEREAS, the PEPL Guarantor has fully and unconditionally guaranteed all payment obligations of the Issuers with respect to the Outstanding Notes on the terms set forth in that certain Sixth Supplemental Indenture, dated as of April 30, 2015, among the Issuers, the PEPL Guarantor, the Existing Guarantors and the Trustee (the “Sixth Supplemental Indenture”);
WHEREAS, ETP desires to become a co-obligor of the Obligations of the Issuers with respect to the Outstanding Notes;
WHEREAS, Section 9.01(1) of the Indenture provides that, without the consent of any Holder of a Note, the Issuers, the Existing Guarantors and the Trustee may amend or supplement the Indenture, the Notes or the Note Guarantees to cure any ambiguity, defect or inconsistency;
WHEREAS, Section 9.01(4) of the Indenture provides, among other things, that, without the consent of any Holder of a Note, the Issuers, the Existing Guarantors and the Trustee may amend or supplement the Indenture, the Notes or the Note Guarantees to make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights thereunder of any such Holder; and
WHEREAS, the Issuers have requested that the Trustee execute and deliver this Supplemental Indenture pursuant to Section 9.01(1) and Section 9.01(4) of the Indenture, and all conditions precedent and requirements necessary to make this Supplemental Indenture a valid and 

legally binding instrument in accordance with its terms have been complied with, performed and fulfilled, and the execution and delivery hereof have been in all respects duly authorized.
NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Issuers, the Existing Guarantors, the PEPL Guarantor, ETP and the Trustee agree as follows:
ARTICLE 1.
REPRESENTATIONS AND WARRANTIES OF ETP 
ETP represents and warrants to the Trustee as follows:
Section 1.01.    Good Standing.  It is a limited partnership duly formed, validly existing and, to the extent applicable, in good standing under the laws of its state of formation as set forth in the preamble hereto. 
Section 1.02.    Authorization.  The execution, delivery and performance by it of this Supplemental Indenture have been authorized and approved by all necessary limited partnership action on its part.
ARTICLE 2.
AMENDMENT TO INDENTURE
Section 2.01.    Amendment to Section 2.08 of the Sixth Supplemental Indenture.  Section 2.08 of the Sixth Supplemental Indenture shall be amended and restated as follows:
“The PEPL Guarantor’s obligations under the PEPL Guarantee shall terminate (a) upon satisfaction and discharge of the Indenture pursuant to Article 11 of the Indenture, (b) upon Legal Defeasance or Covenant Defeasance pursuant to Article 8 of the Indenture or (c) on the date on which the PEPL Guarantor or Energy Transfer Partners, L.P. becomes a co-obligor of the Obligations of the Issuers with respect to the Outstanding Notes.  Upon delivery by the Issuers to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the foregoing effect, the Trustee shall execute any documents reasonably required in order to evidence the release of the PEPL Guarantor from its obligations under the PEPL Guarantee.”
ARTICLE 3.
ETP AS CO-OBLIGOR; RELEASE OF PEPL GUARANTEE
Section 3.01.    ETP as Co-Obligor.  ETP hereby agrees to become a co-obligor of the Obligations of the Issuers with respect to the Outstanding Notes.

2

Section 3.02.    Release of PEPL Guarantee.  Pursuant to Section 2.08, the PEPL Guarantor’s obligations under the PEPL Guarantee shall terminate and be released.
ARTICLE 4.
MISCELLANEOUS
Section 4.01.    General References.  Unless otherwise specified or unless the context otherwise requires, (i) all references in this Supplemental Indenture to Articles and Sections refer to the corresponding Articles and Sections of this Supplemental Indenture and (ii) the terms “herein,” “hereof,” “hereunder” and any other word of similar import refers to this Supplemental Indenture.
Section 4.02.    Effectiveness of Supplemental Indenture.  Upon the effectiveness of this Supplemental Indenture, the Indenture shall be and be deemed to be modified and amended in accordance herewith and the respective rights, limitations of rights, obligations, duties and immunities under the Indenture of the Trustee, the Issuers and the Holders affected thereby shall hereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of this Supplemental Indenture shall be and be deemed to be part of the terms and conditions of the Indenture for any and all purposes.
Section 4.03.    Indenture Remains in Full Force and Effect.  Except as amended and supplemented hereby, all provisions in the Indenture shall remain in full force and effect and are in all respects ratified and confirmed.  Notwithstanding anything to the contrary herein, as to the Holders of the Outstanding Notes, the provisions of this Supplemental Indenture are intended to either (x) provide additional rights or benefits to such Holders or (y) not adversely affect the legal rights of such Holders, and this Supplemental Indenture shall be construed and enforced to give effect to the foregoing.
Section 4.04.    Supplemental Indenture Controls.  If there is any conflict or inconsistency between the Indenture and this Supplemental Indenture, the provisions of this Supplemental Indenture shall control.
Section 4.05.    No Recourse Against Others.  No past, present or future director, officer, partner, member, employee, incorporator, manager or unit holder or other owner of Equity Interests of ETP, as such, shall have any liability for any obligations of the Issuers, any Existing Guarantor or ETP under the Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.  Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy.

3

Section 4.06.    Notices and Demands.  Any notice, demand, direction, request or other document that is required or permitted by any provision of this Supplemental Indenture or the Indenture to be given or made by the Trustee or by the Holders of the Outstanding Notes to or upon ETP shall be given or made by postage-prepaid, first-class mail addressed (until another address of ETP is filed by ETP with the Trustee), to Energy Transfer Partners, L.P., 3738 Oak Lawn Avenue, Dallas, Texas 75219, Attention: General Counsel.
Section 4.07.    Successors and Assigns.  All covenants and agreements in this Supplemental Indenture made by the Issuers, the Existing Guarantors, ETP or the Trustee shall bind their respective successors and assigns, whether so expressed or not.
Section 4.08.    Severability.  If any provision of this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby, and no Holder of the Outstanding Notes shall have any claim therefor against any party hereto.
Section 4.09.    Governing Law.  THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE.
Section 4.10.    Counterparts.  The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.
Section 4.11.    Effect of Headings.  The Article and Section headings herein are for convenience only and shall not affect the construction hereof.
Section 4.12.    Obligations Under Indenture.  For the avoidance of doubt, ETP shall not be bound by any obligations or covenants under the Indenture except as set forth in this Supplemental Indenture or as otherwise required by the TIA.
Section 4.13.    The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuers, the Existing Guarantors, the PEPL Guarantor and ETP.

Signature pages follow.

4

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the day and year first written above.
ISSUERS:
REGENCY ENERGY PARTNERS LP
By: Regency GP LP, its general partner
By: Regency GP LLC, its general partner
		
	By:
	/s/ Thomas E. Long     
Name:  Thomas E. Long 
Title:    Chief Financial Officer

REGENCY ENERGY FINANCE CORP.
		
	By:
	/s/ Thomas E. Long     
Name:  Thomas E. Long 
Title:    Vice President

CO-OBLIGOR
ENERGY TRANSFER PARTNERS, L.P.
By: Energy Transfer Partners GP, L.P., its general partner
By: Energy Transfer Partners, L.L.C., its general partner
		
	By:
	/s/ Thomas E. Long     
Name:  Thomas E. Long 
Title:    Chief Financial Officer

PEPL GUARANTOR:
PANHANDLE EASTERN PIPE LINE COMPANY, LP
By: Southern Union Panhandle LLC, its general partner
By:  /s/ Thomas P. Mason                                             
Name:  Thomas P. Mason 
Title:    Senior Vice President and General Counsel

EXISTING GUARANTORS:
REGENCY OLP GP LLC
		
	By:
	/s/ Thomas E. Long     
Name:  Thomas E. Long 
Title:    Vice President

REGENCY GAS SERVICES LP 
 
By:    Regency OLP GP LLC, its general partner
		
	By:
	/s/ Thomas E. Long     
Name:  Thomas E. Long 
Title:    Vice President

CDM HOLDINGS LLC
By:   CDM Resource Management LLC, its sole member
CDM RESOURCE MANAGEMENT LLC
CMA PIPELINE PARTNERSHIP, LLC
CONNECT GAS PIPELINE LLC
FRONTSTREET HUGOTON LLC
GALVESTON BAY GATHERING, LLC
GULF STATES TRANSMISSION LLC
HESCO GATHERING COMPANY, LLC
HESCO PIPELINE COMPANY, LLC
MIDSTREAM GAS SERVICES LLC
PENN VIRGINIA OPERATING CO., LLC
PVR MIDSTREAM JV HOLDINGS LLC
REGENCY CRUDE MARKETING LLC
REGENCY DESOTO PIPELINE LLC
REGENCY DESOTO-HESCO SERVICES LLC
REGENCY ERCP LLC
REGENCY FIELD SERVICES LLC
REGENCY GAS UTILITY LLC
REGENCY GOM LLC
REGENCY HAYNESVILLE INTRASTATE GAS 
    LLC

REGENCY HYDROCARBONS LLC
REGENCY LAVERNE LLC
REGENCY LIQUIDS PIPELINE LLC
REGENCY MARCELLUS GAS GATHERING LLC
REGENCY MI VIDA LLC
REGENCY MIDCONTINENT EXPRESS LLC
REGENCY MIDSTREAM LLC
REGENCY NEPA GAS GATHERING LLC
REGENCY PIPELINE LLC
REGENCY QUITMAN GATHERING LLC
REGENCY RANCH JV LLC
REGENCY TEXAS PIPELINE LLC
REGENCY UTICA HOLDCO LLC
REGENCY UTICA GAS GATHERING LLC
REGENCY VAUGHN GATHERING LLC
RGP MARKETING LLC
RGU WEST LLC
RHEP CRUDE LLC
SUPERIOR GAS COMPRESSION, LLC
WGP-KHC, LLC
		
	By:
	FrontStreet Hugoton LLC,  
its sole member

By:    Regency Gas Services LP, its sole member
By:    Regency OLP GP LLC, its general partner
		
	By:
	/s/ Thomas E. Long     
Name:  Thomas E. Long 
Title:    Vice President

RGP WESTEX GATHERING INC.
WEST TEXAS GATHERING COMPANY
		
	By:
	/s/ Thomas E. Long     
Name:  Thomas E. Long 
Title:    Vice President

DULCET ACQUISITION LLC
FIELDCREST RESOURCES LLC
K RAIL LLC
KANAWHA RAIL LLC
LJL, LLC
LOADOUT LLC
SUNCREST RESOURCES LLC
TONEY FORK LLC

By:   Penn Virginia Operating Co., LLC, its sole member
By:   Regency Gas Services LP, its sole member
By:   Regency OLP GP LLC, its general partner

		
	By:
	/s/ Thomas E. Long     
Name:  Thomas E. Long 
Title:    Vice President

TRUSTEE:
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee 

		
	By:
	/s/ John C. Stohlmann     
Name:  John C. Stohlmann 
Title:    Vice President

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