Document:

Separation Agreement - Christopher Sells

 Exhibit 10.46 
 HANSEN MEDICAL, INC. 
 October 21, 2009

 Christopher Sells 
 [address]

 Dear Chris: 
 This letter (the
“Agreement”) confirms the agreement between you and Hansen Medical, Inc. (the “Company”) regarding the termination of your employment with the Company. 
 1. Termination Date. You and the Company have agreed that you will resign from your employment with the Company effective
October 22, 2009 (the “Termination Date”). Though the Company is under no obligation to do so, it has offered you the opportunity to provide transition services to the Company pursuant to the term and conditions of the Consulting
Agreement, a copy of which is attached as Exhibit A hereto (the “Consulting Agreement”). 
 2. Effective Date and
Revocation. You have up to 21 days after you receive this Agreement to review it. You are advised to consult an attorney of your own choosing (at your own expense) before signing this Agreement. Furthermore, you have up to seven days after you
sign this Agreement to revoke it. If you wish to revoke this Agreement after signing it, you may do so by delivering a letter of revocation to me. If you do not revoke this Agreement, the eighth day after the date you sign it will be the
“Effective Date.” Because of the seven-day revocation ‘period, no part of this Agreement will become effective or enforceable until the Effective Date. 
 3. Salary and Vacation Pay. On the Termination Date, the Company will pay you all of your salary earned through the Termination Date and all of your accrued but unused vacation time or PTO (less
all applicable withholding taxes and other deductions). You acknowledge that, prior to the execution of this Agreement, you were not entitled to receive any additional money from the Company and that the only payments and benefits that you are
entitled to receive from the Company in the future are those specified in this Agreement and the Consulting Agreement. 
 4.
COBRA Premiums. You will receive information about your right to continue your group health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) after the Termination Date. In order to continue your
coverage, you must file the required election form. If you sign this Agreement and elect to continue group health insurance coverage, then the Company will pay the monthly premium under COBRA for yourself and, if applicable, your dependents until
the earliest of (a) the period ending March 31,

 Christopher Sells 
 October 21, 2009 
 Page 2 
 2010, (b) the expiration of your continuation coverage under COBRA, or (c) the date when you become eligible for health insurance in connection with new employment or self-employment. In
addition, the Company’s obligation to pay your COBRA premiums will terminate if (x) you begin full-time employment with another entity, (y) you terminate the Consulting Agreement or (z) if the Company terminates the Consulting
Agreement due to your breach of this Agreement, the Consulting Agreement or your Proprietary Information and Inventions Agreement. You acknowledge that you otherwise would not have been entitled to any continuation of Company-paid health insurance

 5. Equity Awards. 
 (a) You hold the following outstanding equity awards (collectively, the “Awards”): (i) an option to purchase 150,000 shares of the Company’s Common Stock granted to you on
August 5, 2008 at an exercise price of $12.15 per share (the “First Option”), (ii) an option to purchase 50,000 shares of the Company’s Common Stock granted to you on March 3, 2009 at an exercise price of $3.26 per
share (the “Second Option”) and (iii) 5,000 restricted stock units granted to you on August 5, 2008 (the “RSUs”). As of the Termination Date, you will be vested in 50,000 of the shares subject to the First Option, 7,291
of the shares subject to the Second Option and none of the RSUs. 
 (b) Following the Termination Date, the Awards will remain
outstanding and continue to vest in accordance with their terms while you provide services pursuant to the Consulting Agreement. In addition, if the Company terminates the Consulting Agreement prior to December 31, 2009 for any reason other
than your breach of this Agreement, the Consulting Agreement or your Proprietary Information and Inventions Agreement, then as of such termination you will become vested in a number of additional shares subject to each of the First and Second
Options as though you had remained in service to the Company through December 31, 2009 and the RSUs will fully vest. Notwithstanding the foregoing or anything to the contrary in the Company’s 2006 Equity Incentive Plan (the
“Plan”), if the Company is subject to a “corporate transaction” (as defined in the Plan) before your service terminates, the Awards may be treated as stock awards held by persons other than current participants in accordance with
Section 10(c)(iii) of the Plan. As you know, the Company has announced a need to restate its financial statements. You acknowledge and agree that your ability to exercise the First and Second Options and/or the issuance of the shares subject to
the RSUs may be suspended if the Company determines that either would violate applicable laws. 
 (c) Except as otherwise set forth herein, the
Stock Option Agreements and Restricted Stock Unit Agreement governing the Awards will remain in full force and effect and you agree to remain bound by those Agreements. 

 Christopher Sells 
 October 21, 2009 
 Page 3 
 6. Release of All Claims. In consideration for the opportunity to provide services pursuant to the Consulting Agreement which means
you will continue to receive additional compensation from the Company and continue to vest in the Awards, to the fullest extent permitted by applicable law, you waive, release and promise never to assert any claims or causes of action, whether or
not now known, against the Company or its predecessors, successors or past or present subsidiaries, stockholders, directors, officers, employees, consultants, attorneys, agents, assigns and employee benefit plans with respect to any matter,
including (without limitation) any matter related to your employment with the Company or the termination of that employment, including (without limitation) claims to attorneys’ fees or costs, claims of wrongful discharge, constructive
discharge, emotional distress, defamation, invasion of privacy, fraud, breach of contract or breach of the covenant of good faith and fair dealing and any claims of discrimination or harassment based on sex, age, race, national origin, disability or
any other basis under Title VII of the Civil Rights Act of 1964, the California Fair Employment and Housing Act, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act and all other laws and regulations relating to
employment. However, this release covers only those claims that arose prior to the execution of this Agreement and only those claims that may be waived by applicable law. Execution of this Agreement does not bar any claim that arises hereafter,
including (without limitation) a claim for breach of this Agreement or any claim to indemnification under Section 2802 of the California Labor Code. 
 7. Waiver. You expressly waive and release any and all rights and benefits under Section 1542 of the California Civil Code (or any analogous law of any other state), which reads as follows:

 A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the
time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 
 8. No Admission. Nothing contained in this Agreement will constitute or be treated as an admission by you or the Company of liability, any wrongdoing or any violation of law. 
 9. Other Agreements. At all times in the future, you will remain bound by the Consulting Agreement and your Proprietary Information
and Inventions Agreement with the Company, a copy of which is attached as Exhibit B hereto. Except as expressly provided in this Agreement, this Agreement renders null and void all prior agreements between you and the Company (including, without
limitation, the Retention Agreement, dated October 28, 2009, between you and the Company) and constitutes the entire agreement between you and the Company regarding the subject matter of this Agreement. This Agreement may be modified only in a
written document signed by you and a duly authorized officer of the Company. 
 10. Company Property. You agree that, on
or prior to October 27, 2009, you will return to the Company all property that belongs to the Company, including (without limitation) copies of documents that belong to the Company and files stored on your computer(s) that contain information
belonging to the Company. 

 Christopher Sells 
 October 21, 2009 
 Page 4 
 11. No Disparagement. You agree that you will never make any negative or disparaging statements (orally or in writing) about the
Company or its stockholders, directors, officers, employees, products, services or business practices, except as required by law. The Company agrees that its current officers and directors will never make any negative or disparaging public
statements (orally or in writing) about you, except as required by law. 
 12. Severability. If any term of this
Agreement is held to be invalid, void or unenforceable, the remainder of this Agreement will remain in full force and effect and will in no way be affected, and the parties will use their best efforts to find an alternate way to achieve the same
result. 
 13. Choice of Law. This Agreement will be construed and interpreted in accordance with the laws of the State
of California (other than their choice-of-law provisions). 
 14. Execution. This Agreement may be executed in
counterparts, each of which will be considered an original, but all of which together will constitute one agreement. Execution of a facsimile copy will have the same force and effect as execution of an original, and a facsimile signature will be
deemed an original and valid signature. 

 Christopher Sells 
 October 21, 2009 
 Page 5 
 Please indicate your agreement with the above terms by signing below. 
  

			
	Very truly yours,
	
	HANSEN MEDICAL, INC.
		
	By:	 	 /s/ Dr. Frederic H. Moll, M.D.

		 	Dr. Frederic H. Moll, M.D.
		 	President & Chief Executive Officer

 I agree to
the terms of this Agreement, and I am voluntarily signing this release of all claims. I acknowledge that I have read and understand this Agreement, and I understand that I cannot pursue any of the claims and rights that I have waived in this
Agreement at any time in the future. 
  

	
	 /s/ Christopher Sells

	Signature of Christopher Sells
	
	Dated: 10-21-2009

 Exhibit A 
 CONSULTING AGREEMENT 
 Effective October 22, 2009
(“Effective Date”), Christopher Sells, an individual residing at the address appearing below his signature block (“Consultant”) and Hansen Medical, Inc., a Delaware corporation having a principal place of business at 800 E.
Middlefield Road, Mountain View, CA 94043 (“Company”) agree as follows: 
 Whereas, until the Effective Date of this
Agreement, Consultant was an employee of Company and served as its Senior Vice President, Commercial Operations; and 
 Whereas,
Company and Consultant have agreed that Consultant will resign from, and terminate his employment with, the Company on the Effective Date and will transition immediately into a consulting role in accordance with the terms of this Agreement;

 Wherefore, Consultant and Company agree as follows: 
 1. Services and Payment. Consultant agrees to undertake and complete the Services, and abide by the terms, set forth in Exhibit A in
accordance with and on the schedule specified in Exhibit A. As the only consideration due Consultant regarding the subject matter of this agreement (“Agreement”), Company will pay Consultant in accordance with Exhibit A. 
 2. Ownership Rights; Proprietary Information; Publicity. 
 a. Company shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask work rights, trademark
rights and all other intellectual and industrial property rights of any sort throughout the world) relating to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas and
information made or conceived or reduced to practice, in whole or in part, by Consultant during the term of this Agreement that relate to the subject matter of, or arise out of, the Services or any Proprietary Information (as defined below)
(collectively, “Inventions”) and Consultant will promptly disclose and provide all Inventions to Company. Consultant hereby makes all assignments necessary to accomplish the foregoing ownership. Consultant shall further assist Company, at
Company’s expense, to further evidence, record and perfect such assignments, and to perfect, obtain, maintain, enforce, and defend any rights assigned. Consultant hereby irrevocably designates and appoints Company as its agents and
attorneys-in-fact, coupled with an interest, to act for and on Consultant’s behalf to execute and file any document and to do all other lawfully permitted acts to further the foregoing with the same legal force and effect as if executed by
Consultant. 
 b. Consultant agrees that all Inventions and all other business, technical and financial information (including,
without limitation, the identity of and information relating to customers or employees) Consultant develops, learns or obtains in connection with Services or that are received by or for Company in confidence, constitute “Proprietaty
Information.” Consultant will hold in confidence and not disclose or, except in performing the Selvices, use any Proprietary Information. However, Consultant shall not be obligated under this 
  

 1 

 
paragraph with respect to information Consultant can document is or becomes readily publicly available without restriction through no fault of Consultant. Upon termination and as otherwise
requested by Company, Consultant will promptly return to Company all items and copies containing or embodying Proprietary Information, except that Consultant may keep its personal copies of its compensation records and this Agreement. Consultant
also recognizes and agrees that Consultant has no expectation of privacy with respect to Company’s telecommunications, networking or information processing systems (including, without limitation, stored computer files, email messages and voice
messages) and that Consultant’s activity, and any files or messages, on or using any of those systems may be monitored at any time without notice. 
 c. As additional protection for Proprietary Information, Consultant agrees that (i) until one year after expiration or termination of this Agreement, Consultant will not encourage or solicit any
employee or consultant of Company to leave Company for any reason, and (ii) during the period that he is providing Services to the Company, (A) Consultant shall not engage in any activity that is in any way competitive with the business or
demonstrably anticipated business of Company, and Consultant will not assist any other person or organization in competing or in preparing to compete with any business or demonstrably anticipated business of Company and (B) Consultant will not
accept employment with or directly or indirectly provide any type of services for Intuitive Surgical, Inc., Corindus Inc., or Catheter Robotics, Inc. to the extent such employment or services would compete with Hansen’s present or anticipated
business. Consultant will notify Company within five (5) business days of if and when Consultant accepts full time employment, and shall provide the identity of the full-time employer and the time employment with that company commenced.

 d. To the extent allowed by law, Section 2.a and any license to Company hereunder includes all rights of paternity,
integrity, disclosure and withdrawal and any other rights that may be known as or referred to as “moral rights,” “artist’s rights,” “droit moral,” or the like. To the extent any of the foregoing is ineffective
under applicable law, Consultant hereby provides any and all ratifications and consents necessary to accomplish the purposes of the foregoing to the extent possible. Consultant will confirm any such ratifications and consents from time to time as
requested by Company. If any other person provides any Services, Consultant will obtain the foregoing ratifications, consents and authorizations from such person for Company’s exclusive benefit. 
 e. If any part of the Services or Inventions is based on, incorporates, or is an improvement or derivative of, or cannot be reasonably and
fully made, used, reproduced, distributed and otherwise exploited without using or violating technology or intellectual property rights owned or licensed by Consultant and not assigned hereunder, Consultant hereby grants Company and its successors a
perpetual, irrevocable, worldwide royalty-free, non-exclusive, sublicensable right and license to exploit and exercise all such technology and intellectual property rights in support of Company’s exercise or exploitation of the Services,
Inventions, other work performed hereunder, or any assigned rights (including any modifications, improvements and derivatives of any of them). 
  

 2 

 3. Warranty. Consultant warrants that: (i) the Services will be performed in a
professional and workmanlike manner and that none of such Services nor any part of this Agreement is or will be inconsistent with any obligation Consultant may have to others; (ii) all work under this Agreement shall be Consultant’s
original work and none of the Services or Inventions or any development, use, production, distribution or exploitation thereof will infringe, misappropriate or violate any intellectual property or other right of any person or entity (including,
without limitation, Consultant); and, (iii) Consultant has the full right to allow it to provide the Company with the assignments and rights provided for herein. 
 4. Former or Conflicting Obligations. Consultant represents and warrants to the Company that Consultant will not disclose to the Company, or use, or induce the Company to use, any proprietary
information or trade secrets of others. Consultant represents that Consultant’s performance of services under this Agreement will not breach any agreement not to compete with others or any agreement to keep in confidence proprietary information
acquired by Consultant in confidence or in trust prior to the effective date of this Agreement. Consultant certifies that Consultant has no outstanding agreement or obligation that is in conflict with any of the provisions of this Agreement, or that
would preclude Consultant from complying with the provisions hereof 
 5. Termination. 
 a. This Agreement will automatically terminate on the earlier of (i) the last day of the term specified on Exhibit A and (ii) the
date Consultant accepts full time employment. Prior to such date, either party may terminate this Agreement with or without cause upon notice to the other party. Upon termination, the Company shall pay Consultant all unpaid, undisputed amounts due
for the Services completed prior to such termination within ten (10) business days of the date of termination. Notwithstanding the foregoing, if the Company terminates this Agreement for any reason other than Consultant’s breach of this
Agreement, Consultant’s Proprietary Information and Inventions Agreement with the Company or the separation agreement, dated October 20, 2009, between Consultant and the Company, then the Company will continue to pay Consultant any unpaid
installments of the compensation set forth in Item 3 of Exhibit A. 
 b. Sections 2 (subject to the limitations set forth
in Section 2.c) through 9 of this Agreement and any remedies for breach of this Agreement shall survive any termination or expiration. Company may communicate such obligations to any other (or potential) client or employer of Consultant.

 6. Independent Contractor; No Employee Benefits. Consultant under this Agreement is an independent contractor (not an
employee or other agent) solely responsible for the manner and hours in which Services are performed, is solely responsible for all taxes, withholdings, and other statutory, regulatory or contractual obligations of any sort (including, but not
limited to, those relating to workers’ compensation, disability insurance, Social Security, unemployment compensation coverage, the Fair Labor Standards Act, income taxes, etc.), and is not entitled to any to participate in any employee benefit
plans, fringe benefit programs, group insurance arrangements or similar programs, subject to the exceptions explicitly set forth in Exhibit A. Consultant agrees to indemnify Company from any and all claims, damages, liability, settlement,
attorneys’ fees and expenses, as incurred, on account of the foregoing or any breach of this Agreement or any other action or inaction of Consultant. 
  

 3 

 7. Assignment. This Agreement and the services contemplated hereunder are personal to
Consultant and Consultant shall not have the right or ability to assign, transfer, or subcontract any obligations under this Agreement without the written consent of Company. Any attempt to do so shall be void. Company may assign its rights and
obligations under this agreement in whole or part. 
 8. Notice. All notices under this Agreement shall be in writing,
and shall be deemed given when personally delivered, or three days after being sent by prepaid certified or registered U.S. mail to the address of the party to be noticed as set forth herein or such other address as such party last provided to the
other by written notice,. or if sent by email, but only upon receipt of the email being acknowledged by the recipient. 
  

			
	If to Consultant:	  	The contact information appears below Consultant’s signature block.
		
	If to Company:	  	Hansen Medical, Inc.
		  	800 E. Middlefield Road
		  	Mountain View, CA 94043
		  	Attn: Chief Executive Officer
		  	Tel: (650) 404-5800

 9.
Miscellaneous. Any breach of Section 2 or 3 will cause irreparable harm to Company for which damages would not be an adequate remedy, and therefore, Company will be entitled to injunctive relief with respect thereto in addition to any
other remedies. The failure of either party to enforce its rights under this Agreement at any time for any period shall not be construed as a waiver of such rights. No changes or modifications or waivers to this Agreement will be effective unless in
writing and signed by both parties. In the event that any provision of this Agreement shall be determined to be illegal or unenforceable, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement shall
otherwise remain in full force and effect and enforceable. This Agreement shall be governed by and construed in accordance with the laws of the State of California without regard to the conflicts of laws provisions thereof. In any action or
proceeding to enforce rights under this Agreement, the prevailing patty will be entitled to recover costs and attorneys fees. Headings herein are for convenience of reference only and shall in no way affect interpretation of the Agreement. .

 [The remainder of this page is intentionally left blank] 
  

 4 

							
	Christopher Sells	 		 	HANSEN MEDICAL, INC.
				
	 /s/ Christopher Sells
	 		 	By	 	 /s/ Fred Moll, CEO

		 		 		 	Fred Moll, CEO
		 		 		 	Printed (Name and Title)

 Consultant’s contact
info: 
 Mobile: 
 Email:

 Home address: [address] 
  

 5 

 EXHIBIT A 
 1. Term: From the Effective Date until December 31, 2009. 
 2. Reporting to the Chief
Executive Officer (the “CEO”) and other executives that the CEO may designate from time to time. 
 3. Payment of $6,765 on
October 31, 2009, $19,791.50 on November 15, 2009, $19,791.50 on November 30, 2009, $19,791.50 on December 15,2009 and $19,791.50 on December 31,2009. Consultant will invoice the Company monthly. 
 4. Unless specifically requested to do so, Consultant shall not speak on Company’s behalf to any third party. All inquiries to Consultant shall
immediately be passed to the person to whom Consultant reports. At the Company’s discretion, approval to speak with preapproved third parties for the completion of projects may be granted without the need to seek approval for each individual
communication. 
 5. Expenses, including Consultant’s time, for pre-approved travel will be reimbursed by the Company. 
 6. “Services” means work conducted by Consultant at the request of the Company’s CEO or his delegate to facilitate transition of the
Company’s commercial activities. Consultant shall make himself available to provide up to 20 hours of Services per week. 
  

 6Extended Joint Development Agreement - Philips Medical Systems Nederland B.V.

 Exhibit 10.47 
 CONFIDENTIAL TREATMENT REQUESTED 
  

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

 EXTENDED JOINT DEVELOPMENT AGREEMENT 
 This Joint Development Agreement (“the
Agreement”) is effective as from November 15, 2009 by and between: 
 Philips Medical Systems Nederland B.V. a private company
with limited liability and a Philips Healthcare company, having its registered office and its principal place of business at Veenpluis 4-6, 5684 PC, Best, The Netherlands, (hereinafter referred to as “Philips”), 
 and 
 Hansen Medical Inc, having its
registered office in 380 N. Bernardo Avenue, CA 94043, Mountain View, USA (hereinafter referred to as “Hansen”), 
 Hansen and Philips
hereinafter also collectively referred to as “the Parties” and individually as “a Party”. 
 WHEREAS, the
Philips’ group of companies has for many years been engaged in the research, development, manufacture and sale of medical devices such as the Allura Xper FD series of Cath lab systems; and has acquired valuable know-how and expertise therein,
and owns certain intellectual property rights relating to X-ray based imaging; 
 WHEREAS, Hansen is engaged in the research,
development, manufacture and sale of medical devices such as robotic catheter guidance systems and has acquired valuable know-how and expertise related thereto, and owns certain intellectual property relating thereto; 
 WHEREAS, on September 1st, 2008 the Parties entered into a Joint Development Agreement and a Cooperation Agreement covering the development of
suitable technical interfaces between Hansen’s Sensei System and certain imaging and medical data management systems of Philips, 
 WHEREAS, the Parties entered into a non-binding term sheet with maturity date of September 15, 2009, containing terms according to which they wish to cooperate on the development of a vascular flexible robotics platform.

 WHEREAS, the Parties wish to lay down the terms and conditions governing such cooperation and the exploitation of the results,
including, without limitation, the rules governing the ownership and (licensed) use of intellectual property rights. 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

 NOW THEREFORE, in consideration of the mutual promises and covenants contained herein, the
Parties hereby agree as follows: 
  

	1.	Definitions 

 The following terms when
used in this Agreement shall have the respective meanings ascribed thereto below: 
 “Acceptance Criteria” shall mean the objective
measure of successful completion of a task or engagement or a portion thereof, in particular the measures for successful completion of a Milestone or Deliverable, as agreed between the Parties in the Project Description. 
 “Associated Company (ies)” shall mean any one or more business entities, which is (are) directly or indirectly: (i) owned or controlled by
Philips or Hansen, (ii) owning or controlling Philips or Hansen, or (iii) owned or controlled by the business entity owning or controlling Philips or Hansen, at the relevant time. For the purposes of this definition, a business entity
shall be deemed to own and/or to control another entity if more than 50% (fifty per cent) of the voting stock of the latter business entity, ordinarily entitled to vote in the election of directors (or, if there is no such stock, more than 50%
(fifty per cent) of the ownership of or control in the latter business entity) is held by and consolidated in the annual accounts of the owning and/or controlling business entity. However, only with respect to Hansen, “Associated Company
(ies)” does not include any entity that meets the foregoing definition because a Change of Control occurs or occurred with respect to a Party after the date of this Agreement. 
 “Background Intellectual Property Rights” shall mean any and all Intellectual Property Rights: (a) which are owned or controlled by a Party or any of its Associated Companies at the
Effective Date or (b) in respect of which ownership or control is acquired by a Party or any of its Associated Companies during the Term of this Agreement as a result of: (i) activities conducted outside the framework of the Project or
(ii) any transaction with a third party. 
 For the avoidance of doubt it is agreed that Background Intellectual Property Rights includes
[****]. 
 “Change of Control” means, with respect to a Party, the occurrence of any of the following events: (a) any
consolidation or merger of such Party with or into any other entity in which the holders of such Party’s outstanding shares immediately before such consolidation or merger do not, immediately after such consolidation or merger, retain stock
representing a majority of the voting power of the surviving entity or stock representing a majority of the voting power of an entity that is, or wholly owns, directly or indirectly, the surviving entity; (b) the sale, transfer or assignment of
securities of such Party representing a majority of the voting power of all of such Party’s outstanding voting securities to an acquiring party or group; or (c) the sale of all or substantially all of such Party’s assets; or
(d) the sale or transfer of substantially all the assets and activities of a Party substantially relevant to the cooperation between the Parties as set forth in this Agreement. 
 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 2 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

 “Confidential Information” shall mean Information (i) that is marked or labeled
“Confidential”, “Secret” or the like at the moment of disclosure or, in case of oral Information, is identified as confidential and confirmed in writing within 20 days after disclosure thereof; or (ii) of which the
confidential nature is reasonably apparent. 
 “Creation” shall mean an invention or any other subject matter capable of protection by
Intellectual Property Rights, which invention is made or subject matter is generated either solely by a Party and/or any of its Associated Companies or jointly by the Parties and/or their respective Associated Companies during the Term of this
Agreement and within the framework of the Project. 
 “Deliverable(s)” shall mean a deliverable(s) as specified in the Project
Description. 
 “Effective Date” shall mean the date first written above. 
 “Foreground Intellectual Property Rights” shall mean any and all Intellectual Property Rights to any Creation. 
 “Information” shall mean any and all drawings, specifications, photographs, samples, models, processes, procedures, instructions, software,
reports, papers, and any other technical and/or commercial information, data and documents of any kind, including oral information. 
 “Intellectual Property Rights” shall mean patents, utility certificates, utility models, industrial design rights, copyrights, database rights, know-how, semiconductor IC topography rights and all registrations, applications,
renewals, extensions, combinations, divisions, continuations or reissues of any of the foregoing. 
 “Medical Robotics” means the
application of robotic technology in transcutaneous, endoluminal, and/or invasive procedures. For the avoidance of doubt it is agreed that this does not include the use of robotics in medical non-invasive procedures, entirely outside of the human
body (e.g. positioning ultrasound sensors on the skin). 
 “Milestone(s)” shall mean one or more phases of the Project, as specified
in the Project Description. 
 “Open License Terms” shall mean terms in any license agreement or grant that require as a condition of
use, modification and/or distribution of a work (i) the making available of source code, design descriptions or other materials preferred for modification, or (ii) the granting of permission for creating derivative works, or (iii) the
granting of a royalty-free license to any party under Intellectual Property Rights regarding the work and/or any work that contains, is combined with, requires or otherwise is based on the work. 
 “Open Source Software” shall mean any software that is licensed under Open License Terms. 
  

 Page 3 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

 “Project” shall mean the joint development and exploitation program between the Parties as set
out in the Project Description. 
 “Project Description” shall mean the document(s) attached hereto as Annex 1, describing the
organization and technical details of the Project, which may include, without limitation (i) a precise description of the scope and/or field of use of the Project; (ii) appropriate procedures to assure timely and appropriate coordination
of efforts and resources, such as, among other things, appropriate estimated targets and/or Milestones for any contemplated Deliverables to be signed off in writing by the Parties in accordance with Acceptance Criteria; (iii) the Time Schedule;
(iv) the composition of the Steering Committee and Working Group(s); and (v) Project status tracking, reporting, testing; as may be amended by the Parties from time to time during the Term of this Agreement in accordance with its
provisions. The Project Description may also contain details of any arrangement between the Parties regarding (co-)marketing and sales or any other aspect of exploitation of the Vascular System and any other result of the Project. 
 “Submission” shall mean any submission or disclosure of, or reference to, Information by a Party or any of its Associated Companies during the
Term of this Agreement and within the framework of the Project. 
 “Term” shall have the meaning set forth in Clause 13.1. 

“Time Schedule” shall mean the schedule for the Project, as specified in the Project Description. 
 “Vascular System” means the vascular robotics platform, together with all associated catheters (unless explicitly mentioned otherwise), that will
be developed by Hansen with support of Philips as described in and subject to the terms of this Agreement. For the avoidance of doubt, it is agreed that Vascular System will not include Hansen’s Sensei system or any system used for endoluminal,
cardiac or other non-vascular procedures. 
 “Working Group” shall mean the body referred to in Clause 3.1. 
  

	2.	Scope of the Project, intention for further negotiations and exclusivity 

  

	2.1	Hidden text – please don’t delete 

  

	2.1.1	Subject to the provisions of this Agreement, the Parties will cooperate on the joint development of the Vascular System, in accordance with the Project Description.

  

	2.1.2	Philips will be entitled to a System Sales Fee and a Catheter Sales Fee, as such terms are defined below (System Sales Fee and Catheter Sales Fee together also
described as “Sales Fee”), provided that the total of Sales Fees to be paid to Philips will not exceed the amount of [****] the total of all payments made by Philips to Hansen hereunder, including the Termination Fee, if any, as well as
including the value (if agreed upon in writing between the parties in advance) of any mutually agreed upon in kind contributions, if any. 

 Philips will have no right to any Sales Fees for systems sold and delivered to the end customer after [****] from date of first commercial shipment of the Vascular System. 
 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS 
  

 Page 4 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	2.1.3	The System Sales Fees hereunder will be [****] per Vascular System (excluding catheters) invoiced to the end customer, provided that no System Sales Fee will be due for
systems that are delivered to customers only to replace a Vascular System (for warranty or service reasons) for which appropriate System Sales Fee was already awarded to Philips. 

  

	2.1.4	The Catheter Sales Fee hereunder will be [****] per catheter [****] sold for use with the Vascular System for vascular application and invoiced to the end customer,
provided that no Catheter Sales Fee will be due for catheters that are delivered to customers only to replace catheters (for warranty or service reasons) for which appropriate Catheter Sales Fee was already awarded to Philips.

  

	2.1.5	The total of Sales Fees due will be calculated and paid to Philips within 30 days after the end of each quarter, based upon a list of invoiced Vascular Systems and
catheters to be provided by Hansen. 

  

	    	In calculating and reporting the total of Sales Fees due for each quarter, the Parties will only consider Vascular Systems and catheters sold for which Hansen has
actually invoiced the end customer during the previous quarter. 

  

	2.1.6	Philips shall have the right to retain an independent auditor of national standing in the US under reasonable non-use and non-disclosure obligations to audit the
records relevant to accuracy of payments made under this Section 2.1 at Hansen’s headquarters [****], upon Philips’ prior written notice to Hansen, during normal business hours and without material disruption to Hansen’s normal
business operations. 

  

	2.2	This Agreement will not limit either Party in any way to enter into agreements with third parties with the same or similar scope throughout the Term of this Agreement.

  

	2.3	Notwithstanding the previous section 2.2, the Parties intend to negotiate after the Effective Date of this Agreement about the following aspects related to the subject
matter of this Agreement: 

  

	  	In kind contributions by Philips or Hansen to the Project such as, without limitation, use of Philips’ clinical and technical expertise and resources and/or use of
[****]. In view of the Parties’ mutual intention to thus further investigate and negotiate possibilities for intensifying their relationship, Hansen acknowledges and agrees not to enter into agreements with third parties with the same or
similar scope throughout a term of 3 months after the Effective Date of this Agreement. “Same or similar scope” for this clause means an agreement for joint development of an entire vascular robotic system similar to the Vascular System.

 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 5 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	3.	Organization 

  

	3.1	Each Party shall appoint an Executive Sponsor. The initial Executive Sponsors are: 

  

	  	Philips: [****] 

  

	  	Hansen: [****] 

  

	  	Either Party may replace its Executive Sponsor at any time upon written notice to the other Party. The responsibility of the Executive Sponsors shall be (i) to
establish executive level communication between the Parties; (ii) ensure cooperation between the Parties in line with their general and mutual strategy; and (iii) mediate disputes, as contemplated in section 21 below.

  

	3.2	The Project shall be managed by the Steering Committee consisting of initially 1 representative of each Party, identified in the Project Description, and shall be
conducted through one or more Working Groups consisting of employees of each of the Parties, as specified in the Project Description. 

  

	3.3	The Steering Committee shall be responsible for: 

  

	 	(i)	the overall supervision of the Project and all necessary decisions and/or approvals in respect of major Project items, including, without limitation, items relating to
planning, resources, Milestones and the Time Schedule; 

  

	 	(ii)	the approval of any Submission containing software subject to Open License Terms, as set forth in Clause 10; 

  

	 	(iii)	the determination that a Milestone has been completed in accordance with the Project Description and the Acceptance Criteria; 

  

	 	(iv)	the approval of any changes or modifications in the Project or Project Description. 

  

	  	All decisions or approvals of the Steering Committee shall be taken unanimously, and shall be recorded in writing in the minutes of each meeting, which shall be
promptly distributed to each Party. If the Steering Committee fails to reach unanimity regarding an issue, such failure will be deemed a dispute under this Agreement and will be resolved in accordance with the dispute resolution provision of this
Agreement. The Steering Committee shall meet as often as necessary. Meetings may take place upon the request of either of the Parties. 

  

	3.4	One or more Working Groups shall be composed of the employees representing Philips and Hansen respectively, as identified in the Project Description. The replacement of
a Party’s Working Group member by another employee representing such Party shall require the prior notification in writing by such Party’s representative(s) within the Steering Committee to the other Party. The Working Group(s) shall be
responsible for carrying out the Project and shall report to the Steering Committee on the progress of their work on a regular basis. 

  

	3.5	Unless otherwise confirmed by the Steering Committee, all costs and expenses incurred by either Party in connection with the Project, including without limitation,
traveling and lodging expenses of the Party’s employees, shall be borne by such Party. 

 [****] = CERTAIN INFORMATION HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 6 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	4.	Milestones and Time Schedule 

  

	4.1	The Parties confirm their commitment to use their reasonable efforts to cooperate with the intent that the Milestones and Time Schedule will be met in accordance with
the Project Description. In the event that either Party foresees that it will not be able to (i) timely meet a Milestone or (ii) timely deliver a Deliverable or (iii) perform any other material obligation in connection with this
Agreement or the Project Description, it shall promptly notify the other Party thereof. In the event that any material delay in the Time Schedule occurs or is likely to occur, the Steering Committee shall meet to determine an appropriate period of
extension of the Project or any other appropriate solution. 

  

	4.2	In the event that the Steering Committee determines that a Milestone has not been completed in accordance with the Project Description, the Parties shall use their
reasonable endeavours to reach such Milestone as quickly as reasonably possible, each at its own cost and expense. 

  

	5.	Ownership of Intellectual Property Rights 

  

	5.1	All right, title and interest in and to any and all Background Intellectual Property Rights shall remain solely and exclusively with the respective Party or its
Associated Companies or its third party suppliers, as the case may be. 

  

	5.2	Without prejudice to the provisions of Clauses 5.3, 5.4, 5.5 and 5.6, all right, title and interest in and to Foreground Intellectual Property Rights shall vest in the
Party or its Associated Companies whose employee(s) made the Creation resulting in such Foreground Intellectual Property Rights. 

  

	5.3	In the event that either Party is of the opinion that the Parties (or their respective Associated Companies) have jointly made a Creation, it shall notify the
intellectual property department (or, if there is no such department, the designated employee having responsibility for intellectual property matters) of the other Party thereof within 90 days of the creation thereof, in accordance with the
provisions of Clause 14. 

  

	  	For the purpose of this Agreement, a Creation will be deemed to have been made jointly by the Parties (or their respective Associated Companies) only when employees of
both Parties (or respective Associated Companies of both Parties) are, during the Term of this Agreement and within the scope of the Project, joint inventors or joint authors of the Creation as determined in accordance with applicable law.

  

 Page 7 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	5.4	If a Creation has been made jointly by the Parties (or their respective Associated Companies), title in and to such Creation as well as in and to the Foreground
Intellectual Property Rights therein shall be jointly owned by the Parties (or their relevant Associated Companies) and each joint owner shall have an equal, undivided interest in and to such joint Creation as well as in and to such Foreground
Intellectual Property Rights in all countries. 

  

	  	Upon the confirmation by the intellectual property department (or, if there is no such department, the designated employee having responsibility for intellectual
property matters) of each of the Parties, the Parties shall enter into good faith discussions in order to agree on an appropriate course of action for filing applications for Foreground Intellectual Property Rights in such joint Creation, including
the decision as to which Party is to be entrusted with the preparation, filing and prosecution of such applications and in which countries of the world such applications for Foreground Intellectual Property Rights are to be filed. The filing of any
applications for Foreground Intellectual Property Rights on joint Creations shall require mutual agreement between the Parties. Save as otherwise explicitly provided herein, all costs related to applications for Foreground Intellectual Property
Rights in joint Creations and Foreground Intellectual Property Rights resulting from such applications shall be shared equally between the Parties or their relevant Associated Companies. 

  

	  	In the event that one of the Parties confirms in writing that it is not interested in filing any application for a Foreground Intellectual Property Right on a joint
Creation, that Party shall assign its rights in such joint Creation to the other Party and the other Party or any of its Associated Companies shall be entitled to file or have filed such application in its own name and at its own expense and shall
be the sole owner of any resulting Foreground Intellectual Property Rights subject to a transferable, non-exclusive, perpetual, irrevocable, royalty-free and fully paid-up license, with the right to grant sub-licenses only in connection with the
license of other Intellectual Property Rights (and not on a standalone basis), for the lifetime of the Foreground Intellectual Property Right(s) concerned in favour of the Party who was not interested in filing such application as well as such
Party’s Associated Companies to fully exercise and exploit the joint Creation and such Foreground Intellectual Property Right(s), which license is hereby granted and effective without any further action. 

  

	  	 In the event that one of the Parties (“the First Party”) wishes to file an application for a Foreground Intellectual Property Right on a
joint Creation in or for a country or territory in or for which the other Party does not wish to file in its own name, the First Party or any of its Associated Companies shall be entitled to file or have filed such application in or for such country
or territory in its own name and at its own expense and shall be the sole owner of any resulting Foreground Intellectual Property Rights subject to a transferable, non-exclusive, perpetual, irrevocable, royalty-free and fully paid-up license, with
the right to grant sub-licenses only in connection with the license of other Intellectual Property Rights (and not on a

  

 Page 8 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	 	 
standalone basis), for the lifetime of the Foreground Intellectual Property Right(s) in or for the country or territory concerned in favour of the Party who was not interested in filing such
application in or for such country or territory as well as such Party’s Associated Companies to fully exercise and exploit the joint Creation and such Foreground Intellectual Property Right(s), which license is hereby granted and effective
without any further action. 

  

	  	In the event that one of the joint owners of a Foreground Intellectual Property Right or an application for a Foreground Intellectual Property Right on a joint Creation
wishes to discontinue the payment of its share of the maintenance fees or other costs in any particular country or territory, the other owner may take over the payment of such share. The owner discontinuing to pay its share for one or more countries
or territories shall forthwith relinquish to the other owner who continues such payments, its title to and interest in such jointly owned Foreground Intellectual Property Right for the countries or territories concerned, subject, however, to the
retention of a transferable, non-exclusive, perpetual, irrevocable, royalty-free and fully paid-up license, with the right to grant sub-licenses only in connection with the license of other Intellectual Property Rights (and not on a standalone
basis), for the lifetime of the Foreground Intellectual Property Right in or for the countries or territories concerned in favour of the relinquishing owner as well as such owner’s Associated Companies to fully exercise and exploit the joint
Creation and such Foreground Intellectual Property Right(s), which license is hereby granted and effective without any further action. Upon such abandonment (and except for permitted sublicenses, the relinquishing owner shall no longer have the
right to grant licenses to third parties under such Foreground Intellectual Property Right for the countries or territories concerned, provided that the discontinuation of such right to grant licenses shall not affect any licenses previously granted
to third parties under such Foreground Intellectual Property Right. 

  

	5.5	Without the consent of and without accounting to the other owner, each of the joint owners and its Associated Companies shall have the transferable (subject to the next
paragraph) right (i) to make, have made, use, lease, sell or otherwise dispose of any Creation protected by (and to otherwise exercise and exploit) any jointly owned Foreground Intellectual Property Right, and (ii) to grant non-exclusive
licenses under such jointly owned Foreground Intellectual Property Right. 

  

	  	Subject to the rights and obligations of each of the joint owners under this Clause 5 (to which any transferee of an interest in the jointly owned Foreground
Intellectual Property must agree), each of the joint owners shall have the right to assign its rights and interest in any jointly owned Foreground Intellectual Property Right to an Associated Company or to an acquirer of the applicable Foreground
Intellectual Property or of all (or a part of) the joint owner’s business. 

  

	5.6	 Each joint owner shall have the right to bring an action for infringement of any jointly owned Foreground Intellectual Property Right only with the
prior written consent of the other owner. Such consent may only be withheld if such infringement action would be prejudicial to the other owner’s commercial interests as can be demonstrated to the reasonable satisfaction of the joint
owner wishing to bring such infringement action.

  

 Page 9 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	

	6.	Licenses under Intellectual Property Rights 

  

	6.1	Intellectual Property Rights License for Project. 

  

	  	Each Party hereby grants and shall cause its Associated Companies to grant to the other Party and the other Party’s Associated Companies a non-exclusive,
non-transferable, world-wide, royalty-free license, without the right to grant sub-licenses, under any and all Intellectual Property Rights owned or controlled by that Party or its Associated Companies, solely for the purpose of performing
development activities necessary for the Project during the Term of this Agreement and in accordance with the provisions of this Agreement and the Project Description. 

  

	6.2	Foreground Intellectual Property Rights License for Commercial Exploitation. 

  

	  	Each Party hereby grants and shall cause its Associated Companies to grant to the other Party and the other Party’s Associated Companies a non-exclusive,
non-transferable, irrevocable, world-wide, royalty-free and fully paid-up license, without the right to grant sub-licenses, under any and all Foreground Intellectual Property Rights solely owned by it or its Associated Companies.

  

	6.3	[Intentionally omitted] 

  

	6.4	Notwithstanding anything to the contrary contained in this Agreement, no licenses are granted pursuant to this Clause 6 by either Party under Background Intellectual
Property Rights. 

  

	6.5	The termination of this Agreement by either Party pursuant to the provisions of Clause 13.2, Clause 13.3 or Clause 13.5 shall not affect the obligation of the other
Party to grant licenses as provided in this Clause 6. 

  

	7.	Software 

  

	7.1	Where the results of the Project include software and either Party distributes such software (that constitutes or embodies Foreground Intellectual Property that is not
solely owned by the other Party and/or its Associated Companies) in accordance with the provisions of this Agreement, such Party shall: 

  

	 	(i)	ensure that all third parties to whom such software is distributed shall be bound by appropriate undertakings preventing such third parties, to the maximum extent
permitted by applicable law, from carrying out any act of reverse engineering or decompilation in relation to the software and obliging such third parties to apply relevant copyright notices, both in on-screen display on packaging, and otherwise as
instructed by the relevant party; and 

  

 Page 10 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	 	(ii)	take reasonable measures to ensure that the source code of the software shall remain confidential between the Parties. 

  

	8.	Confidentiality 

  

	8.1	The Parties acknowledge that in connection with the Project, they may receive Information that contains valuable information, know-how and/or trade secrets of the
disclosing Party that the disclosing Party considers to be proprietary and/or confidential. 

  

	8.2	Save as expressly provided otherwise in this Agreement, for a period of [****] from the date of receipt of any Confidential Information from the other Party, the
receiving Party shall not use or disclose such Confidential Information (except disclosure to its employees with a need to know for purposes of this Agreement) and shall keep such Confidential Information strictly confidential by employing adequate
procedures for safeguarding Confidential Information at least as rigorous as the receiving Party employs for its own confidential information. 

  

	8.3	The confidentiality obligations under this Agreement shall not apply to Confidential Information of which the receiving Party can demonstrate by means of dated
documentation that such Confidential Information: (i) was already in the public domain at the time it was disclosed or subsequently enters the public domain through no fault of the receiving Party; (ii) was known to the receiving Party or
in its possession prior to receipt of such Confidential Information, (iii) was developed by the receiving Party independently and without use of Confidential Information provided by the disclosing Party under this Agreement and without any
breach of this Agreement; or (iv) was lawfully received by the receiving Party on a non-confidential basis from a third party who was not bound by a similar obligation of confidentiality in relation to the Confidential Information.

  

	  	In the event that, in connection with any legal proceeding or investigation by a competent court or governmental or administrative authority, either Party (or any of
its representatives) is required (by oral questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process) to disclose any Confidential Information received under this Agreement, such Party
shall provide the other Party with prompt notice of such request(s) so that the other Party may seek an appropriate protective order or other appropriate remedy. In the event that such protective order or other remedy is not obtained promptly or in
the event that the other Party grants a waiver hereunder, the Party concerned may furnish that portion (and only that portion) of the Confidential Information which, in the written opinion of that Party’s legal counsel, the Party concerned is
legally compelled to disclose and will exercise its best efforts to obtain an order or other adequate assurance that such Confidential Information will be treated confidentially. 

 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS 
  

 Page 11 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	  	Notwithstanding the foregoing, the Party may disclose that portion (and only that portion) of the Confidential Information, which, in the written opinion of its legal
counsel, the Party is legally required to disclose in order to comply with applicable law. 

  

	8.4	The Parties acknowledge the confidential nature of their relationship and this Agreement and neither Party shall disclose the existence or the contents of their
relationship or this Agreement without obtaining the prior approval of the other Party in writing, save as required by applicable law or by either Party in connection with the enforcement of its rights hereunder or on a confidential basis to
potential investors or acquirors. Any breach by either Party of any of its confidentiality obligations under this Clause 8 shall not affect any right or remedy to which the non-breaching Party would be entitled at law absent this Agreement.

  

	9.	Open License Terms and Open Source Software 

	  	[Intentionally left blank] 

  

	10.	No Warranty 

  

	10.1	WITHOUT PREJUDICE TO THE PROVISIONS OF CLAUSE 8, ANY AND ALL INFORMATION (AND ANYTHING ELSE) AS MAY BE DISCLOSED OR PROVIDED BY EITHER PARTY TO THE OTHER PARTY IN
CONNECTION WITH THE PROJECT AND THE PROJECT DESCRIPTION OR THIS AGREEMENT SHALL BE ON AN “AS IS” BASIS, WITHOUT ANY REPRESENTATION OR WARRANTY WHATSOEVER. ANY AND ALL WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING, BUT NOT
LIMITED TO ANY AND ALL WARRANTIES RELATED TO MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ABSENCE OF ERRORS AND/OR BUGS, ACCURACY OR COMPLETENESS OF RESULTS, VALIDITY, SCOPE OR NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHT, ARE EXPRESSLY
DISCLAIMED. 

  

 Page 12 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	11.	Limitation of Liability 

  

	11.1	Except for a breach of confidentiality obligations, neither Party shall be liable to the other Party, its employees, directors, shareholders, agents or any third party
for any indirect or consequential, incidental, punitive or special, damages (including, but not limited to, damages for business interruption or for personal injury) arising out of or in any way related to or in connection with this Agreement, even
if the other Party has been advised of the possibility of such damages. 

  

	  	Save for breaches of confidentiality and save for failure to make payment hereunder, save for third party intellectual property rights infringement, in the event that
any court of competent jurisdiction renders judgment against either Party, in no event shall such Party’s aggregate liability to the other Party in connection with this Agreement exceed the amount of [****] 

  

	12.	Force Majeure 

  

	12.1	In the event that the performance by either Party of any of its obligations under this Agreement and/or the Project Description is prevented, restricted, delayed or
interfered with by any circumstances beyond the reasonable control of that Party or its contractors, then that Party shall, upon giving prompt notice to the other Party specifying the circumstances and obligations concerned, be excused from such
performance to the extent of such prevention, restriction, delay or interference, provided that the Party so affected shall endeavour to overcome the circumstances causing the non-performance and shall give prompt notice to the other Party as soon
as the performance of its obligations can be resumed. 

  

	12.2	In the event that the period of prevention, restriction, delay or interference mentioned in Clause 12.1 continues or can reasonably be expected to continue for more
than 3 consecutive months, each Party shall be entitled to terminate this Agreement to the extent not yet executed, and neither Party shall be liable to the other Party by virtue of such termination. 

  

	13.	Term and Termination 

  

	13.1	This Agreement shall enter into force on the Effective Date and remain in force until Project completion or April 1, 2012, whichever comes first and unless
terminated earlier in accordance with the provisions of this Clause 13 or upon mutual agreement between the Parties (“the Term”). In the event that any governmental approval is required in relation to the conclusion and/or performance of
this Agreement, the Parties shall endeavor to obtain such approval. 

 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 13 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	13.2	Each Party may terminate this Agreement at any time by means of a written notice to the other Party in the event that the other Party fails to perform any material
obligation under this Agreement and such failure is not materially remedied within 30 days (or 90 in the case of an engineering or development failure) after receipt of a notice specifying the nature of such failure and requiring it to be remedied.
Such right of termination shall not be exclusive of any other surviving provisions, remedy or means of redress to which the non-defaulting Party may be lawfully entitled and all such remedies shall be cumulative. 

  

	  	For the avoidance of doubt, the Parties agree that any substantial failure to meet any Milestone or the Time Schedule, as described in the Project Description or
otherwise described in this Agreement, will be deemed a breach of a material obligation solely for the purpose of this clause 13.2, and provided that there will be no remedy for Philips or liability of Hansen other than Philips’ right to
terminate for substantial failure to meet any Milestone or the Time Schedule. 

  

	13.3	Each Party may terminate this Agreement forthwith by means of a written notice to the other Party and without Termination Fee in the event that: (i) a creditor or
other claimant takes possession of, or a receiver, administrator or similar officer is appointed over any of the assets of the other Party; or (ii) the other Party makes any voluntary arrangement with its creditors or becomes subject to any
court or administration order pursuant to any bankruptcy or insolvency law; or (iii) a Change of Control occurs in relation to either Party. 

  

	13.4	The obligations of the Parties under this Agreement that by their nature or otherwise would continue beyond the expiration or termination of this Agreement, including
those concerning confidentiality, warranty and liability as well as those mutual obligations to grant licenses that are not affected by early termination, shall survive expiration or earlier termination of this Agreement, regardless of the reason or
background of such termination. For the avoidance of doubt, if this agreement is early terminated, Philips’ future entitlement to Sales Fees shall continue to be binding upon Hansen after termination regardless of the reason or background of
such termination, proportional to the amounts paid by Philips to Hansen under this Agreement (including Termination Fee, if any) so far by the time of termination. 

  

	13.5	Philips may terminate this Agreement for convenience at any time by means of a 60 day prior written notice to Hansen. Only in the case of such termination by Phillips,
or a termination by Hansen for Philips’ breach, Phillips will pay a termination fee to compensate Hansen for the damage caused by such termination as follows: 

  

	  	If termination referenced in this section 13.5 occurs before completion of first milestone (M1), Phillips will pay Hansen an additional amount equal to the greater of
[****] or a fraction of the payment for M1 reflecting the portion of the time between the Effective Date and the Target Date for M1 that has elapsed. If termination occurs after completion of M1 but before completion of second milestone (M2),
Phillips will pay Hansen an additional amount equal to the greater of [****] or a fraction of the payment for M2 reflecting the portion of the time 

 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS

  

 Page 14 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	 	 
between the completion of M1 and the Target Date for M2 that has elapsed. If termination occurs after completion of M2 but before completion of third milestone (M3), Phillips will pay Hansen an
additional amount equal to the greater of [****] or a fraction of the payment for M3 reflecting the portion of the time between the completion of M2 and the Target Date for M3 that has elapsed. 

  

	  	For the avoidance of doubt, the parties acknowledge and agree that the payment to be paid by Philips under this section 13.5 (“Termination Fee”) will be
considered as a payment by Philips that should be included in the basis for calculation of the maximum of Sales Fees to be paid by Hansen (described in section 2 herein), regardless of the reason for or background of termination.

  

	14.	Notices 

  

	14.1	Any notice required under this Agreement to be sent by either Party shall be given in writing by means of a letter, facsimile or electronic mail directed:

  

	  	In respect of Philips: 

  

	  	A. for notices of a general/legal nature, to: 

  

	  	PHILIPS MEDICAL SYSTEMS NEDERLAND B.V. 

	  	[****] 

	  	Fax number: [****] 

  

	 	cc:	Legal Department PMSN BV 

	 	  	[****] 

	 	  	Fax:      [****] 

  

	  	B. for notices in relation to intellectual property matters, to: 

  

	  	Philips Intellectual Property & Standards 

	  	[****] 

	  	Fax no.: [****] 

  

	  	In respect of Hansen: 

  

	  	A. for notices of a general nature, to: 

  

	  	Frederic Moll, MD - CEO 

	  	Hansen Medical, Inc. 

	  	800 East Middlefield Road 

	  	Mountain View, CA 94043 

 [****] = CERTAIN
INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 15 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	  	B. For matters of a general nature: 

  

	  	[****] 

	  	Hansen Medical, Inc. 

	  	800 East Middlefield Road 

	  	Mountain View, CA 94043 

  

	  	C. For IP/legal matters: 

  

	  	[****] 

	  	Chief Patent Counsel 

	  	Hansen Medical, Inc. 

	  	800 East Middlefield Road 

	  	Mountain View, CA 94043 

 or such other address
as may have been previously specified in writing by either Party to the other. 
  

	15.	No Assignment 

  

	15.1	This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. This Agreement shall not be assignable by
either Party, in whole or in part to any third party, except that either party may assign or transfer this Agreement, without consent, to (A) an Associated Company of that Party or (B) (subject to the right to terminate set forth in
Section 13.3) a successor to substantially all such Party’s assets, business or equity relevant to the subject matter of this Agreement. . 

  

	16.	Independent Contractors 

  

	16.1	The Parties are and intend to remain independent contractors. Nothing in this Agreement shall be construed as an agency, joint venture or partnership between the
Parties. 

 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS
BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 16 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	17.	Non-Solicitation 

  

	17.1	Unless agreed upon between the Parties through a decision of the Steering Committee, neither Party shall, during the Term and for a period of [****] thereafter,
actively solicit to employ or hire any individual who is employed or retained as an independent contractor by the other Party and who is or has been involved in the Project. 

  

	18.	No License 

  

	18.1	The Parties acknowledge and agree that except as expressly provided in Clauses 5 and 6, nothing contained in this Agreement shall be construed as: (i) granting, by
implication, estoppel or otherwise, a license under any Intellectual Property Right or (ii) imposing any obligation to file any application for any Intellectual Property Right, to obtain any Intellectual Property Right or to maintain any
Intellectual Property Right in force. 

  

	19.	Severability 

  

	19.1	If any of the provisions of this Agreement is determined to be invalid or unenforceable by any court of competent jurisdiction, such finding shall not invalidate the
remainder of this Agreement which shall remain in full force and effect as if the provision(s) determined to be invalid or unenforceable had not been a part of this Agreement. In the event of such finding of invalidity or unenforceability, the
Parties will endeavor to substitute forthwith the invalid, or unenforceable provision(s) by such effective provision(s) as will most closely correspond with the original intention of the provision(s) so voided. 

  

	20.	Entire Agreement 

  

	20.1	This Agreement sets forth the entire understanding and agreement between the Parties as to the scope of this Agreement and supersedes, cancels and merges all prior
agreements, negotiations, commitments, communications and discussions between the Parties relating to the scope matter hereof as stipulated in clause 2 above, without prejudice to the existing agreements as specified in the Whereas.

  

	20.2	No variation of this Agreement shall be binding upon either Party unless made in writing and signed by an authorized representative of each of the Parties hereto.

  

	20.3	It is acknowledged and agreed that the performance by the Parties of their obligations pursuant to this Agreement shall by no means result in any obligation on the part
of either Party to enter into any further agreement containing obligations for either Party beyond the obligations contained herein or to realize any transaction with the other Party with respect to the subject matter hereof or otherwise, including
without limitation, any agreement or transaction concerning the supply of Products or services by either Party to the other. 

 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 17 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

	21.	Dispute Resolution 

  

	21.1	Any dispute between the Parties arising out of or related to this Agreement shall be elevated to the Executive Sponsors with the aim to resolve such dispute within 45
days of written notice by either Party requesting such resolution, provided that nothing shall prevent either Party from reverting to a competent court to obtain injunctive relief if in such Party’s opinion, such injunctive relief is necessary
to prevent irreparable, material harm. 

  

	22.	No Waiver 

  

	22.1	Neither the failure nor the delay of either Party to enforce any provision of this Agreement shall constitute a waiver of such provision or of the right of each Party
to enforce each and every provision of this Agreement. 

  

	23.	Applicable Law and Jurisdiction 

  

	23.1	This Agreement shall be governed by and construed in accordance with the laws of New York, without regard to its conflicts of law rules. Any dispute between the Parties
arising out of or in connection with this Agreement (including any question regarding its existence, validity or termination) that cannot be solved in accordance with the provisions of Clause 21 shall be submitted to the competent courts of The
Southern District of New York, without prejudice to the right of either Party to seek injunctive relief an any place where an infringement of its rights occurs or threatens to occur. 

  

 Page 18 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

 AS WITNESS, the Parties have, by their duly authorized representatives, executed this Agreement
on the date first written above. 
  

									
	PHILIPS MEDICAL SYSTEMS NEDERLAND B.V.	 		 	HANSEN MEDICAL INC.
			
	  
	 		 	  

	(signature)	 		 		 	(signature)
					
	Name:	 		 		 	Name:	 	
	Title :	 		 		 	Title :	 	
	Date:	 		 		 	Date:	 	

  

 Page 19 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

 ANNEX 1 
 to 
 JOINT DEVELOPMENT AGREEMENT 
 Project Description 
  

	1.	Defined Terms 

  

	 	•	 	 Capitalized terms used in this Annex 1 and not defined herein have the meanings ascribed thereto in the Agreement to which this Annex 1 is attached.
For the avoidance of doubt, deliverables are tasks to be performed, not the work product resulting from such performance. 

  

	 	•	 	 Scope 

  

	 	•	 	 This Project Description covers the collaboration between the Parties with respect to the joint development of a Vascular Robotic Platform. The
technical details will be worked out in separate documents, part of the Project Deliverables. All references to payments in this Annex 1 mean amounts to be paid by Philips to Hansen by the date indicated in the applicable row in the table below (or
if there is no date in such row, the date in the gray row above it). Philips agrees to so pay all such amounts to Hansen and, in addition to any other remedies, Hansen will not be obligated to continue with any work under the Agreement when any such
amount is unpaid. 

  

	 	1.1	[intentionally omitted] 

  

	 	1.2	Project structure 

 The Project is governed by
two formal committees: the Steering Committee (SC) and the Working Group (WG). 
  

	 	1.3	Members of Steering Committee 

 For Philips:

 [****] 
 For Hansen:

 [****] 
  

	 	1.4	Members of Working Group 

 For Philips:

 [****] 
 [****] =
CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 20 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

 For Hansen: 
 [****] 
 [****]

 [****] 
 [****] 
  

	2.	Project contents 

 The table below describes the
project timing, in milestones. For each milestone, one or more deliverables are named. When needed, more detailed descriptions of the deliverables are included in the next table. Each deliverable is the responsibility of Philips or Hansen, or both,
as indicated. Successful passing of a Milestone needs to be confirmed by the Steering Committee. 
  

			
	 * :See table 2 for more detailed description
	  	TABLE 1

  

									
	 Mile-stone
	    	 Description
	    	 Date

	M0	    	Joint Development Agreement executed	    	November 2009
					
	 	    	 Deliverable
	    	Responsibility	    	 Description
	    	 
		    	M0-D1	    	Both	    	[****]	    	
		    	M0-D2	    	Philips	    	[****]	    	[****]
			
	M1	    	[****]	    	[****]
					
	 	    	 Deliverable
	    	Responsibility	    	 Description
	    	 
		    	M1-D1 *	    	Both	    	[****]	    	[****]
		    	M1-D2 *	    	Hansen	    	[****]	    	[****]
		    	M1-D3 *	    	Hansen	    	[****]	    	
		    	M1-D4	    	Hansen,
 Philips
	    	[****]	    	
		    	M1-D5	    	Hansen,
 Philips
	    	[****]	    	
		    	M1-D6 *	    	Hansen	    	[****]	    	
		    	M1-D7	    	Both	    	[****]	    	
		    	M1-D8	    	Philips	    	[****]	    	

 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 21 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

			
	 * :See table 2 for more detailed description
	  	TABLE 1 (continued)

  

									
	 Mile-stone
	    	 [****]
	    	 Date

	M2	    	[****]	    	[****]
					
	 	    	Deliverable	    	Responsibility	    	 Description
	    	 
		    	M2-D1	    	Hansen	    	[****]	    	
		    	M2-D2	    	Hansen,
 Philips
	    	[****]	    	
		    	M2-D3	    	Hansen	    	[****]	    	
		    	M2-D4 *	    	Hansen	    	[****]	    	
		    	M2-D5	    	Both	    	[****]	    	
		    	M2-D6	    	Philips	    	[****]	    	
			
	M3	    	[****]	    	[****]
					
	 	    	Deliverable	    	Responsibility	    	 Description
	    	 
		    	M3-D1	    	Hansen	    	[****]	    	
		    	M3-D2	    	Hansen	    	[****]	    	
		    	M3-D3	    	Hansen	    	[****]	    	
		    	M3-Dy	    	Philips	    	[****]	    	

 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 22 of 23 

			
	CONFIDENTIAL	 	FINAL VERSION DATED 2009-11-06 MD

  

 TABLE 2. 
  

			
	 Deliverable
	  	 Detailed description

	 M1-D1
	  	[****]
	 M1-D2
	  	[****]
		
	 M1-D3
	  	[****]
	 M1-D6
	  	[****]
	 M2-D4
	  	[****]

 Date: 
 Approved for Hansen: [****] 
 Approved for
Philips: [****] 
 [****] = CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED WITH RESPECT TO THE OMITTED PORTIONS 
  

 Page 23 of 23

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]