Document:

EX-10.3

 Exhibit 10.3 

TRIVASCULAR TECHNOLOGIES, INC. 

2008 EQUITY INCENTIVE PLAN 

FORM OF EARLY EXERCISE STOCK PURCHASE AGREEMENT 

THIS AGREEMENT is made by and between TRIVASCULAR
TECHNOLOGIES, INC., a Delaware corporation (the “Company”), and                 
(“Purchaser”). 
 WITNESSETH: 

WHEREAS, Purchaser holds a stock option dated
            , 20     to purchase shares of common stock (“Common Stock”) of the Company (the “Option”) pursuant to the
Company’s 2008 Equity Incentive Plan (the “Plan”); and 
 WHEREAS, the
Option consists of a Stock Option Grant Notice and a Stock Option Agreement; and 
 WHEREAS, Purchaser
desires to exercise the Option on the terms and conditions contained herein; and 
 WHEREAS, Purchaser
wishes to take advantage of the early exercise provision of the Purchaser’s Option, and therefore to enter into this Agreement. 

NOW, THEREFORE, IT IS AGREED between the
parties as follows: 
 1. INCORPORATION OF PLAN AND OPTION
BY REFERENCE. This Agreement is subject to all of the terms and conditions as set forth in the Plan and the Option. If there is a conflict between the terms of this Agreement and/or the Option and the
terms of the Plan, the terms of the Plan shall control. If there is a conflict between the terms of this Agreement and the terms of the Option, the terms of the Option shall control. Defined terms not explicitly defined in this Agreement but defined
in the Plan shall have the same definitions as in the Plan. Defined terms not explicitly defined in this Agreement or the Plan but defined in the Option shall have the same definitions as in the Option. 

2. PURCHASE AND SALE OF COMMON
STOCK.  
 (a) Agreement to Purchase and Sell Common Stock. Purchaser hereby agrees to
purchase from the Company, and the Company hereby agrees to sell to Purchaser, an aggregate of             
(                ) shares of Common Stock at $         per share, for an aggregate purchase price of
$         payable as follows: 
  

					
		 	 [Cash]
	 	$
			
		 	 [Promissory Note]
	 	$
			
		 	 Total Exercise Price
	 	$

 (b) Closing. The closing hereunder, including payment for and delivery of the Common Stock, shall occur
at the offices of the Company immediately following the execution of this Agreement, or at such other time and place as the parties may mutually agree; provided, however, that if stockholder approval of the Plan is required before the Option
may be exercised, then the Option may not be exercised, and the closing shall be delayed, until such stockholder approval is obtained. If such stockholder approval is not obtained within the time limit specified in the Plan, then this Agreement
shall be null and void. 

 3. UNVESTED SHARE REPURCHASE
OPTION.  
 (a) Repurchase Option. In the event Purchaser’s Continuous Service
terminates, then the Company shall have an irrevocable option (the “Repurchase Option”) for a period of ninety (90) days after said termination (or in the case of shares issued upon exercise of the Option after such date
of termination, within ninety (90) days after the date of the exercise), or such longer period as may be agreed to by the Company and the Purchaser, to repurchase from Purchaser or Purchaser’s personal representative, as the case may be,
those shares that Purchaser received pursuant to the exercise of the Option that have not as yet vested as of such termination date in accordance with the Vesting Schedule indicated on Purchaser’s Stock Option Grant Notice (the
“Unvested Shares”). 
 (b) Shares Repurchasable at Purchaser’s Original Exercise Price. The Company may
repurchase all or any of the Unvested Shares at a price (“Option Price”) equal to the Purchaser’s Exercise Price for such shares as indicated on Purchaser’s Stock Option Grant Notice. 

4. EXERCISE OF REPURCHASE OPTION. The Repurchase Option
shall be exercised by written notice signed by an officer of the Company and delivered or mailed as provided herein. Such notice shall identify the number of shares of Common Stock to be purchased and shall notify Purchaser of the time, place and
date for settlement of such purchase, which shall be scheduled by the Company within the term of the Repurchase Option set forth above. The Company shall be entitled to pay for any shares of Common Stock purchased pursuant to its Repurchase Option
at the Company’s option in cash or by offset against any indebtedness owing to the Company by Purchaser (including without limitation any note given in payment for the Common Stock), or by a combination of both. Upon delivery of such notice and
payment of the purchase price in any of the ways described above, the Company shall become the legal and beneficial owner of the Common Stock being repurchased and all rights and interest therein or related thereto, and the Company shall have the
right to transfer to its own name the Common Stock being repurchased by the Company, without further action by Purchaser. 
 5.
CAPITALIZATION ADJUSTMENTS TO COMMON STOCK. In the event of a “Capitalization Adjustment” affecting the Company’s outstanding
Common Stock as a class as designated in the Plan, then any and all new, substituted or additional securities or other property to which Purchaser is entitled by reason of Purchaser’s ownership of Common Stock shall be immediately subject to
the Repurchase Option and be included in the word “Common Stock” for all purposes of the Repurchase Option with the same force and effect as the shares of the Common Stock presently subject to the Repurchase Option, but only
to the extent the Common Stock is, at the time, covered by such Repurchase Option. While the total Option Price shall remain the same after each such event, the Option Price per share of Common Stock upon exercise of the Repurchase Option shall be
appropriately adjusted. 
 6. CHANGE IN CONTROL. In the event of a
“Corporate Transaction” as designated in the Plan, or another change of control of the Company, then the Repurchase Option may be assigned by the Company to the successor of the Company (or such successor’s parent
company), if any, in connection with such Corporate Transaction or a change in control. To the extent the Repurchase Option remains in effect following such Corporate Transaction or a change in control, it shall apply to the new capital stock or
other property received in exchange for the Common Stock in consummation of the Corporate Transaction or a change in control, but only to the extent the Common Stock was at the time covered by such right. Appropriate adjustments shall be made to the
price per share payable upon exercise of the Repurchase Option to reflect the Corporate Transaction or a change in control upon the Company’s capital structure; provided, however, that the aggregate Option Price shall remain the same.

  
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 7. ESCROW OF UNVESTED COMMON
STOCK. As security for Purchaser’s faithful performance of the terms of this Agreement and to ensure the availability for delivery of Purchaser’s Common Stock upon exercise of the Repurchase Option herein
provided for, Purchaser agrees, at the closing hereunder, to deliver to and deposit with the Secretary of the Company or the Secretary’s designee (“Escrow Agent”), as Escrow Agent in this transaction, three
(3) stock assignments duly endorsed (with date and number of shares blank) in the form attached hereto as Exhibit A, together with a certificate or certificates evidencing all of the Common Stock subject to the Repurchase
Option; said documents are to be held by the Escrow Agent and delivered by said Escrow Agent pursuant to the Joint Escrow Instructions of the Company and Purchaser set forth in Exhibit B, attached hereto and incorporated by this
reference, which instructions shall also be delivered to the Escrow Agent at the closing hereunder. 
 8. RIGHTS
OF PURCHASER. Subject to the provisions of the Option, Purchaser shall exercise all rights and privileges of a stockholder of the Company with respect to the shares deposited in escrow. Purchaser
shall be deemed to be the holder of the shares for purposes of receiving any dividends that may be paid with respect to such shares and for purposes of exercising any voting rights relating to such shares, even if some or all of such shares have not
yet vested and been released from the Company’s Repurchase Option. 
 9. LIMITATIONS ON
TRANSFER. In addition to any other limitation on transfer created by applicable securities laws, Purchaser shall not sell, assign, hypothecate, donate, encumber or otherwise dispose of any interest in the Common
Stock while the Common Stock is subject to the Repurchase Option. After any Common Stock has been released from the Repurchase Option, Purchaser shall not sell, assign, hypothecate, donate, encumber or otherwise dispose of any interest in the Common
Stock except in compliance with the provisions herein, any other agreement between the Company and the Purchaser with respect to the restrictions on transfer (including without limitation that certain Stockholders’ Agreement attached to the
Purchaser’s Stock Option Grant Notice) and applicable securities laws. Furthermore, the Common Stock shall be subject to any right of first refusal in favor of the Company or its assignees that may be contained in the Company’s Bylaws or
the Option. 
 10. RESTRICTIVE LEGENDS. All certificates representing the Common Stock
shall have endorsed thereon legends in substantially the following forms (in addition to any other legend which may be required by other agreements between the parties hereto): 

(a) “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN OPTION SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE
REGISTERED HOLDER, OR SUCH HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS COMPANY. ANY TRANSFER OR ATTEMPTED TRANSFER OF ANY SHARES SUBJECT TO SUCH OPTION IS VOID WITHOUT THE PRIOR EXPRESS WRITTEN
CONSENT OF THE COMPANY.” 
 (b) “THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933 AS AMENDED, OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR TRANSFERRED EXCEPT IN COMPLIANCE THEREWITH.” 

(c) “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER, AS SET FORTH IN THE
AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT DATED AS OF JUNE 30, 2010, AS AMENDED FROM TIME TO TIME, A COPY OF WHICH WILL BE FURNISHED BY TV2 HOLDING COMPANY UPON REQUEST AND WITHOUT CHARGE.” 

(d) Any legend required by appropriate blue sky officials. 

  
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 11. INVESTMENT REPRESENTATIONS. In connection
with the purchase of the Common Stock, Purchaser represents to the Company the following: 
 (a) Purchaser is aware of the
Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Common Stock. Purchaser is acquiring the Common Stock for investment for
Purchaser’s own account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act. 

(b) Purchaser understands that the Common Stock has not been registered under the Securities Act by reason of a specific exemption
therefrom, which exemption depends upon, among other things, the bona fide nature of Purchaser’s investment intent as expressed herein. 

(c) Purchaser further acknowledges and understands that the Common Stock must be held indefinitely unless the Common Stock is
subsequently registered under the Securities Act or an exemption from such registration is available. Purchaser further acknowledges and understands that the Company is under no obligation to register the Common Stock. Purchaser understands that the
certificate evidencing the Common Stock will be imprinted with a legend that prohibits the transfer of the Common Stock unless the Common Stock is registered or such registration is not required in the opinion of counsel for the Company. 

(d) Purchaser is familiar with the provisions of Rules 144 and 701, under the Securities Act, as in effect from time to time,
which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly, from the issuer thereof (or from an affiliate of such issuer), in a non-public offering subject to the satisfaction of certain
conditions. Rule 701 provides that if the issuer qualifies under Rule 701 at the time of issuance of the securities, such issuance will be exempt from registration under the Securities Act. In the event the Company becomes subject to the
reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the securities exempt under Rule 701 may be sold by Purchaser ninety (90) days thereafter, subject to the satisfaction of certain of the conditions
specified by Rule 144 and the market stand-off provision described in Purchaser’s Stock Option Agreement. 
 (e) In the
event that the sale of the Common Stock does not qualify under Rule 701 at the time of purchase, then the Common Stock may be resold by Purchaser in certain limited circumstances subject to the provisions of Rule 144, which requires, among
other things: (i) the availability of certain public information about the Company and (ii) the resale occurring following the required holding period under Rule 144 after the Purchaser has purchased, and made full payment of (within
the meaning of Rule 144), the securities to be sold. 
 (f) Purchaser further understands that at the time Purchaser wishes to sell
the Common Stock there may be no public market upon which to make such a sale, and that, even if such a public market then exists, the Company may not be satisfying the current public current information requirements of Rule 144 or 701, and
that, in such event, Purchaser would be precluded from selling the Common Stock under Rule 144 or 701 even if the minimum holding period requirement had been satisfied. 

(g) Purchaser further warrants and represents that Purchaser has either (i) preexisting personal or business relationships, with
the Company or any of its officers, directors or controlling persons, or (ii) the capacity to protect his own interests in connection with the purchase of the Common 

  
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Stock by virtue of the business or financial expertise of the Purchaser or of professional advisors to Purchaser who are unaffiliated with and who are not compensated by the Company or any of its
affiliates, directly or indirectly. 
 12. MARKET STAND-OFF
AGREEMENT. By exercising the Option Purchaser agrees (in addition to any restrictions on transfer set forth in the Stockholders’ Agreement) that the Purchaser shall not sell, dispose of, transfer, make any
short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by the Purchaser, for a period of time
specified by the managing underwriter(s) in any public offering of securities of the Company (not to exceed 180 days (the “Lock Up Period”)); provided, however that if (i) the Company issues an earnings
release or material news, or a material event relating to the Company occurs, during the last 17 days of the Lock-up Period, or (ii) prior to the expiration of the Lock-up Period, the Company announces that it will release earnings results
during the 16-day period beginning on the last day of the Lock-up Period, the restrictions imposed by this agreement shall continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the
occurrence of the material news or material event to allow any managing underwriter to comply with FINRA Rule 2711(f)(4)) following the effective date of a registration statement of the Company filed under the Securities Act. Purchaser further
agrees to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the
foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Common Stock until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this
Section 12 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto 
 13.
SECTION 83(b) ELECTION. Purchaser understands that Section 83(a) of the Code, taxes as ordinary income the difference between the amount paid for the Common Stock and the fair market value
of the Common Stock as of the date any restrictions on the Common Stock lapse. In this context, “restriction” includes the right of the Company to buy back the Common Stock pursuant to the Repurchase Option set forth above. Purchaser
understands that Purchaser may elect to be taxed at the time the Common Stock is purchased, rather than when and as the Repurchase Option expires, by filing an election under Section 83(b) (an “83(b) Election”) of the
Code with the Internal Revenue Service within thirty (30) days from the date of purchase. Even if the fair market value of the Common Stock at the time of the execution of this Agreement equals the amount paid for the Common Stock, the 83(b)
Election must be made to avoid income under Section 83(a) in the future. Purchaser understands that failure to file such an 83(b) Election in a timely manner may result in adverse tax consequences for Purchaser. Purchaser further understands
that Purchaser must file an additional copy of such 83(b) Election with his or her federal income tax return for the calendar year in which the date of this Agreement falls. Purchaser acknowledges that the foregoing is only a summary of the effect
of United States federal income taxation with respect to purchase of the Common Stock hereunder, and does not purport to be complete. Purchaser further acknowledges that the Company has directed Purchaser to seek independent advice regarding the
applicable provisions of the Code, the income tax laws of any municipality, state or foreign country in which Purchaser may reside, and the tax consequences of Purchaser’s death. Purchaser assumes all responsibility for filing an 83(b) Election
and paying all taxes resulting from such election or the lapse of the restrictions on the Common Stock. 
 14. REFUSAL
TO TRANSFER. The Company shall not be required (a) to transfer on its books any shares of Common Stock of the Company which shall have been transferred in violation of any of the provisions set
forth in this Agreement or (b) to treat as owner of such shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such shares shall have been so transferred. 

  
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 15. NO EMPLOYMENT RIGHTS. This
Agreement is not an employment contract and nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company (or a parent or subsidiary of the Company) to terminate Purchaser’s employment for any reason at any
time, with or without cause and with or without notice. 
 16. MISCELLANEOUS.  

(a) Notices. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal
delivery or sent by telegram or fax or upon deposit in the United States Post Office, by registered or certified mail with postage and fees prepaid, addressed to the other party hereto at such party’s address hereinafter shown below its
signature or at such other address as such party may designate by ten (10) days’ advance written notice to the other party hereto. 

(b) Successors and Assigns. This Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the
restrictions on transfer herein set forth, be binding upon Purchaser, Purchaser’s successors, and assigns. The Company may assign the Repurchase Option hereunder at any time or from time to time, in whole or in part. 

(c) Attorneys’ Fees; Specific Performance. Purchaser shall reimburse the Company for all costs incurred by the Company in
enforcing the performance of, or protecting its rights under, any part of this Agreement, including reasonable costs of investigation and attorneys’ fees. It is the intention of the parties that the Company, upon exercise of the Repurchase
Option and payment of the Option Price, pursuant to the terms of this Agreement, shall be entitled to receive the Common Stock, in specie, in order to have such Common Stock available for future issuance without dilution of the holdings of other
stockholders. Furthermore, it is expressly agreed between the parties that money damages are inadequate to compensate the Company for the Common Stock and that the Company shall, upon proper exercise of the Repurchase Option, be entitled to specific
enforcement of its rights to purchase and receive said Common Stock. 
 (d) Governing Law; Venue. This Agreement shall be governed by
and construed in accordance with the laws of the State of California. The parties agree that any action brought by either party to interpret or enforce any provision of this Agreement shall be brought in, and each party agrees to, and does hereby,
submit to the jurisdiction and venue of, the appropriate state or federal court for the district encompassing the Company’s principal place of business. 

(e) Further Execution. The parties agree to take all such further action(s) as may reasonably be necessary to carry out and consummate
this Agreement as soon as practicable, and to take whatever steps may be necessary to obtain any governmental approval in connection with or otherwise qualify the issuance of the securities that are the subject of this Agreement. 

(f) Independent Counsel. Purchaser acknowledges that this Agreement has been prepared on behalf of the Company by Arnold &
Porter LLP, counsel to the Company and that Arnold & Porter LLP does not represent, and is not acting on behalf of, Purchaser. Purchaser has been provided with an opportunity to consult with Purchaser’s own counsel with respect to this
Agreement. 
 (g) Entire Agreement; Amendment. This Agreement constitutes the entire agreement between the parties with respect to
the subject matter hereof and supersedes and merges all prior agreements or understandings, whether written or oral. This Agreement may not be amended, modified or revoked, in whole or in part, except by an agreement in writing signed by each of the
parties hereto. 
 (h) Severability. If one or more provisions of this Agreement are held to be

  
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unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for
such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in
accordance with its terms. 
 (i) Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be
deemed an original and all of which together shall constitute one instrument. 
 IN WITNESS
WHEREOF, the parties hereto have executed this Agreement as of         , 20    . 

 

			
	TRIVASCULAR TECHNOLOGIES, INC.:
		
	By:	 	  

	Title:
	Address:
	3910 Brickway Blvd.
	Santa Rosa, California

  

			
	PURCHASER:
	
	  
 Signature

		
	Address:	 	  

 ATTACHMENTS: 
  

			
	 Exhibit A
	  	Assignment Separate from Certificate
	 Exhibit B
	  	Joint Escrow Instructions

  
 -7- 

 Exhibit A 

STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED,             hereby sells, assigns and transfers unto
TRIVASCULAR TECHNOLOGIES, INC., a Delaware corporation (the “Company”), pursuant to the Repurchase Option under that certain Early Exercise Stock Purchase Agreement, dated
            , 20     by and between the undersigned and the Company (the “Agreement”),
                shares of Common Stock of the Company standing in the undersigned’s name on the books of the Company represented by Certificate No(s).
             and does hereby irrevocably constitute and appoint the Company’s Secretary as attorney-in-fact to transfer said Common Stock on the books of the Company with full power of
substitution in the premises. This Assignment may be used only in accordance with and subject to the terms and conditions of the Agreement, in connection with the repurchase of shares of Common Stock issued to the undersigned pursuant to the
Agreement, and only to the extent that such shares remain subject to the Company’s Repurchase Option under the Agreement. 
 Dated:
            , 20     
  

	
	
	  
 (Signature)

	
	  
 (Print Name)

 (INSTRUCTION: Please do not fill in any blanks other than the “Signature” line and the “Print
Name” line.) 

  
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 Exhibit B 

JOINT ESCROW INSTRUCTIONS 

Secretary 
 TRIVASCULAR TECHNOLOGIES, INC. 

3910 Brickway Blvd. 
 Santa Rosa, California 95403 

Dear Sir or Madam: 
 As Escrow Agent for both
TRIVASCULAR TECHNOLOGIES, INC., a Delaware corporation (“Company”), and the undersigned purchaser of Common Stock of the Company (“Purchaser”), you are hereby authorized and directed to hold the
documents delivered to you pursuant to the terms of that certain Early Exercise Stock Purchase Agreement (“Agreement”), dated             ,
20     to which a copy of these Joint Escrow Instructions is attached as Exhibit B, in accordance with the following instructions: 

1. In the event the Company or an assignee shall elect to exercise the Repurchase Option set forth in the Agreement, the Company or its
assignee will give to Purchaser and you a written notice specifying the number of shares of Common Stock to be purchased, the purchase price, and the time for a closing hereunder at the principal office of the Company. Purchaser and the Company
hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice. 

2. At the closing you are directed (a) to date any stock assignments necessary for the transfer in question, (b) to fill in
the number of shares being transferred, and (c) to deliver same, together with the certificate evidencing the shares of Common Stock to be transferred, to the Company against the simultaneous delivery to you of the purchase price (which may
include suitable acknowledgment of cancellation of indebtedness) of the number of shares of Common Stock being purchased pursuant to the exercise of the Repurchase Option. 

3. Purchaser irrevocably authorizes the Company to deposit with you any certificates evidencing shares of Common Stock to be held by
you hereunder and any additions and substitutions to said shares as specified in the Agreement. Purchaser does hereby irrevocably constitute and appoint you as the Purchaser’s attorney-in-fact and agent for the term of this escrow to execute
with respect to such securities and other property all documents of assignment and/or transfer and all stock certificates necessary or appropriate to make all securities negotiable and complete any transaction herein contemplated. 

4. This escrow shall terminate upon expiration or exercise in full of the Repurchase Option, whichever occurs first. 

5. If at the time of termination of this escrow you should have in your possession any

  
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documents, securities, or other property belonging to Purchaser, you shall deliver all of same to Purchaser and shall be discharged of all further obligations hereunder; provided, however,
that if at the time of termination of this escrow you are advised by the Company that the property subject to this escrow is the subject of a pledge or other security agreement, you shall deliver all such property to the pledgeholder or other person
designated by the Company. 
 6. Except as otherwise provided in these Joint Escrow Instructions, your duties hereunder may be
altered, amended, modified or revoked only by a writing signed by all of the parties hereto. 
 7. You shall be obligated only for
the performance of such duties as are specifically set forth herein and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the
proper party or parties or their assignees. You shall not be personally liable for any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Purchaser while acting in good faith and any act done or omitted by you pursuant
to the advice of your own attorneys shall be conclusive evidence of such good faith. 
 8. You are hereby expressly authorized to
disregard any and all warnings given by any of the parties hereto or by any other person or corporation, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of
any court. In case you obey or comply with any such order, judgment or decree of any court, you shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding any such
order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or found to have been entered without jurisdiction. 

9. You shall not be liable in any respect on account of the identity, authority or rights of the parties executing or delivering or
purporting to execute or deliver the Agreement or any documents or papers deposited or called for hereunder. 
 10. You shall not be
liable for the outlawing of any rights under any statute of limitations with respect to these Joint Escrow Instructions or any documents deposited with you. 

11. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be Secretary of the Company or if you shall
resign by written notice to each party. In the event of any such termination, the Company may appoint any officer or assistant officer of the Company as successor Escrow Agent and Purchaser hereby confirms the appointment of such successor or
successors as the Purchaser’s attorney-in-fact and agent to the full extent of your appointment. 
 12. If you reasonably
require other or further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 

13. It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of
the securities, you are authorized and directed to retain in your possession without liability to anyone all or any part of said securities until such dispute shall have been settled either by mutual written agreement of the parties concerned or by
a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings. 

14. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery,
including delivery by express courier or five days after deposit 

  
 2 

 
in the United States Post Office, by registered or certified mail with postage and fees prepaid, addressed to each of the other parties hereunto entitled at the following addresses, or at such
other addresses as a party may designate by ten days’ advance written notice to each of the other parties hereto: 
  

					
	COMPANY:	 	TriVascular Technologies, Inc. 3910 Brickway Blvd. Santa Rosa, California 95403	  	
			
	PURCHASER:	 	  
	  	
		 	  
	  	
			
	ESCROW AGENT:	 	 Secretary
 TriVascular Technologies,
Inc.
	  	
		 	3910 Brickway Blvd.	  	
		 	Santa Rosa, California 95403	  	

 15. By signing these Joint Escrow Instructions you become a party hereto only for the purpose of said
Joint Escrow Instructions; you do not become a party to the Agreement. 
 16. You shall be entitled to employ such legal counsel and
other experts (including without limitation the firm of Arnold & Porter LLP) as you may deem necessary properly to advise you in connection with your obligations hereunder. You may rely upon the advice of such counsel, and may pay such
counsel reasonable compensation therefor. The Company shall be responsible for all fees generated by such legal counsel in connection with your obligations hereunder. 

17. This instrument shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted
assigns. It is understood and agreed that references to “you” or “your” herein refer to the original Escrow Agent and to any and all successor Escrow Agents. It is understood and agreed that the Company may at any time or from
time to time assign its rights under the Agreement and these Joint Escrow Instructions in whole or in part. 

  
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 18. This Agreement shall be governed by and interpreted and determined in accordance with
the laws of the State of California, as such laws are applied by California courts to contracts made and to be performed entirely in California by residents of that state. 

 

			
	Very truly yours,
	
	TRIVASCULAR TECHNOLOGIES, INC.:
		
	By:	 	  

	Title:
	Address:
	3910 Brickway Blvd.
	Santa Rosa, California 95403

  

			
	PURCHASER:
	
	  
 Signature

		
	Address:	 	  

  

	
	
	 ESCROW AGENT:
  

 

  
 4EX-10.7

 Exhibit 10.7 

KEY EMPLOYEE CHANGE OF CONTROL AND SEVERANCE PAYMENT PLAN 

TV2 Holding Company (“TV2 Holding”) and its wholly-owned subsidiary, TriVascular, Inc. (“TriVascular” and together with
TV2 Holding, “TV2”) hereby establish this Key Employee Change of Control and Severance Payment Plan (the “Plan”), effective as of July 18, 2013 (the “Effective Date”). 

Capitalized terms used throughout the Plan shall have the meaning set forth in Article 2, except as otherwise defined in the Plan or unless
the context clearly requires otherwise. 
 1. Introduction. 

(a) Purpose of the Plan. The purpose of the Plan is to help retain qualified employees of TV2 and its Affiliated Entities (as defined
below), maintain a stable work environment and provide economic security to eligible employees in the event of certain terminations of employment. 

(b) Plan Status. The Plan is intended to be a top hat plan for a select group of management or highly compensated employees. To the
extent applicable, it is intended that portions of this Plan either comply with or be exempt from Section 409A (as defined below). This Plan shall be administered in a manner consistent with this intent, and any provision of this Plan that
would cause it to fail either to comply with or be exempt from Section 409A, as the case may be, shall have no force or effect. 
 (c)
Other Change of Control Benefit and Severance Payment Arrangements Superseded. Except as otherwise provided herein, this Plan supersedes all previous addenda, agreements and other arrangements regarding change of control benefits and/or
severance payments between TV2 (as defined below) and the Participants. If a Participant’s service terminates for any reason or for no reason or if a Change of Control Transaction occurs, the Participant shall not be entitled to any payments,
benefits, damages, awards or compensation other than as provided by this Plan, or as may otherwise be established under TriVascular’s (or its Affiliated Entities’) then existing employee benefit plans, or as determined by the Board in its
sole discretion. Notwithstanding the foregoing, any vesting or acceleration of vesting of Founder Shares as defined in the Founders’ Contribution Agreement (as defined below) shall continue to be subject to the terms of the Founders’
Contribution Agreement, to the extent applicable. 
 2. Definitions. 

(a) Affiliated Entities. With respect to TV2 Holding or TriVascular, any entities that, directly or indirectly through one or more
intermediaries, control, are controlled by or are under common control with TV2 Holding or TriVascular, within the meaning of Code Sections 414(b) and (c). 

(b) Base Salary. The annual base salary as in effect at the time of determination of a Triggering Event, less applicable withholding
taxes, and exclusive of all bonuses, incentives, commissions, expense reimbursements, stock options or other equity awards or any other extraordinary payments. 

  
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 (c) Board. The board of directors of TV2 Holding and the board of directors of
TriVascular. 
 (d) Business Combination. A transaction or series of related transactions resulting in: (i) the sale of all or
substantially all of the assets of TriVascular or TV2 Holding; (ii) a merger or consolidation or other reorganization in which TriVascular or TV2 Holding is a merging party; or (iii) the sale or other change of beneficial ownership of at
least 50% of the outstanding voting securities of TriVascular or TV2 Holding (excluding any such sale or change in connection with a transaction for bona fide capital raising purposes). 

(e) Cause. Any of the following: (i) a material breach by a Participant of his or her contractual obligations to TriVascular
concerning his or her employment or TriVascular’s written policies; (ii) gross negligence, serious misconduct or a material failure by a Participant in connection with the discharge of his or her duties or otherwise relating to his or her
employment by TriVascular; (iii) a Participant’s use of drugs or alcohol in such a manner as to materially interfere with the performance of his or her duties; or (iv) the Participant’s conviction of, or a plea of no contest to,
a felony or misdemeanor involving moral turpitude. 
 (f) Change of Control Benefits. Change of Control Payments and the other
benefits which a Participant may receive under Article 5 of the Plan. 
 (g) Change of Control Closing. The consummation of a
Change of Control Transaction. 
 (h) Change of Control Payments. Change of Control Retention Payments or Change of Control
Termination Payments, as applicable. 
 (i) Change of Control Retention Payment. The cash payment payable to a Participant pursuant
to Section 5(b) of the Plan. 
 (j) Change of Control Termination Payment. The cash payment payable to a Participant pursuant to
Section 5(a) of the Plan. 
 (k) Change of Control Transaction. A Business Combination in which less than 50% of the outstanding
voting securities of the Successor Entity immediately following the closing of the Business Combination are beneficially held by those persons and entities in the same proportion as such persons and entities beneficially holding the voting
securities of TriVascular or TV2 Holding immediately prior to such transaction. 
 (l) Code. The Internal Revenue Code of 1986, as
amended. 
 (m) Constructive Termination. A Participant terminates his or her employment with TriVascular within three
(3) months after any of the following, and he or she has provided TriVascular written notice of the grounds for the Constructive Termination and TriVascular has failed to remedy the grounds for Constructive Termination within 30 days of the
Participant’s written notice: (i) a material breach by TriVascular of its contractual obligations to the Participant concerning his or her employment that is not timely cured; (ii) a relocation of the Participant’s principal
place of employment to a location more than 25 miles from his or her then 

  
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current principal place of employment without his or her consent; (iii) a material reduction of the Participant’s overall compensation and benefits without the Participant’s
consent; or (iv) a material diminution in the Participant’s overall responsibilities without the Participant’s consent, other than solely a change in title, using as the baseline the Participant’s overall responsibilities
immediately prior to the Triggering Event. Stock options and other equity incentives shall be disregarded in determining whether there has been a material reduction in overall compensation and benefits. 

(n) ERISA. The Employee Retirement Income Security Act of 1974, as amended. 

(o) Founders’ Contribution Agreement. That agreement entered into among TV2 Holding and Michael Chobotov, Joseph Humphrey and
Robert Whirley dated March 28, 2008. 
 (p) Participant. Each person designated by the Board to participate in the Plan as
provided in Article 3. 
 (q) Plan. This Key Employee Change of Control and Severance Payment Plan. 

(r) Plan Administrator. The Board. 

(s) Section 409A. Section 409A of the Code and the regulations and rulings issued thereunder. 

(t) Severance Payment. A payment made pursuant to Article 6 of the Plan. 

(u) Successor Entity. A corporation or other entity other than TriVascular or TV2 Holding that in a Business Combination acquires all
or substantially all the assets of TriVascular or TV2 Holding or is the surviving party in a merger or consolidation or other reorganization; provided, however, that if there is no such corporation or other entity in a Business Combination,
then for that Business Combination the Successor Entity is TriVascular or TV2 Holding, as applicable 
 (v) Triggering Event. In the
case of a Change of Control Termination Payment, the Change of Control Closing or the date of termination, whichever is later. In the case of a Severance Payment, the date of termination. In the case of Change of Control Retention Payment, the 12
month anniversary of the Change of Control Closing.
 (w) TriVascular. TriVascular, Inc., a wholly owned subsidiary of TV2 Holding.

 (x) TV2 Holding. TV2 Holding Company. 

(y) TV2. TriVascular and TV2 Holding. 

  
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 3. Plan Administration. 

(a) Sole Authority. Subject to Section 11 below, the Plan Administrator shall have the sole authority to administer the Plan and
may interpret the Plan, prescribe, amend and rescind rules and regulations under the Plan and make all other determinations necessary or advisable for the administration of the Plan. All decisions made by the Plan Administrator shall be made in its
sole and absolute discretion and shall be final and binding on Participants and TV2. 
 (b) Delegation. The Plan Administrator may
delegate any of its duties hereunder to such person or persons as it may, from time to time, designate. 
 (c) Third Party Providers.
The Plan Administrator is empowered, on behalf of the Plan to engage accountants, legal counsel and other such personnel as it deems necessary or advisable to assist it in the performance of its duties under the Plan. The function of any such
persons engaged by the Plan Administrator shall be limited to the specified services and duties for which they are engaged. Such persons shall have no other duties, obligations or responsibilities under the Plan. Such persons shall exercise no
discretionary authority or control respecting management of the Plan. All reasonable expenses of such persons shall be borne by TV2. 
 4.
Eligibility and Participation. 
 (a) Eligibility. Any management and highly compensated employee of TV2 or any of its
Affiliated Entities designated by the Board shall be eligible to participate in the Plan. 
 (b) Participation; Participation
Agreement. With respect to any individual who is eligible to participate in the Plan pursuant to Section 4(a), no such individual shall become a Participant and become eligible to receive any payments or benefits under the Plan unless and
until such individual has executed, and not revoked, a participation agreement in the form attached hereto as Exhibit A. 
 (c)
List of Participants. The Plan Administrator shall maintain a list of Participants, as may be amended from time to time, as Exhibit B to the Plan. 

5. Payments and Benefits In Connection with a Change of Control Transaction. 

(a) Change of Control Termination Payment. Subject to Article 7 below, a Participant shall be entitled to receive the amount equal to
such Participant’s Base Salary upon termination without Cause or a Constructive Termination within three (3) months prior to, or twelve (12) months after, a Change of Control Closing. Such Change of Control Termination Payment shall
be made in the form of a lump sum in accordance with the provisions of Article 7 and other applicable provisions of the Plan. 
 (b)
Change of Control Retention Payment. A Participant shall be entitled to receive the amount equal to such Participant’s Base Salary upon the twelve (12)-month anniversary of a Change of Control Closing, provided that the
Participant is still employed by the 

  
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Successor Entity as of such date and has not received a Change of Control Termination Payment. Such Change of Control Retention Payment shall be made in the form of a lump sum no later than sixty
(60) days following the twelve (12)-month anniversary of the Change of Control Closing. 
 (c) Acceleration of Vesting of Equity
Awards. One hundred percent (100%) of a Participant’s unvested options or other equity awards under any equity incentive plan maintained by TV2 Holding shall vest to the extent permitted by such plan and by applicable laws:
(i) immediately prior to a Change of Control Closing; or, (ii) if, within three (3) months prior to a Change of Control Closing, the Participant is terminated without Cause or a Constructive Termination occurs then such awards shall
vest on the date of such termination. 
 (d) No Change of Control Benefits for Other Terminations. Subject to Section 6(b), no
Participant shall be entitled to any Change in Control Benefits under this Plan for any reason other than as set forth in Sections 5(a)-(c), including without limitation death, disability, voluntary resignation (other than a Constructive
Termination) or termination with Cause. 
 6. Severance Payment Not in Connection with a Change of Control Transaction. 

(a) Severance Payment. Subject to Article 7 below, a Participant shall be entitled to receive that portion of Base Salary set forth
next to such Participant’s name on Exhibit B attached hereto upon termination without Cause or a Constructive Termination, in each case, not in connection with a Change of Control Transaction. Such Severance Payment shall be made in the
form of a lump sum in accordance with the provisions of Article 7. 
 (b) No Duplication of Payments. The Severance Payment described
in this Article 6 is not intended to, and shall not, result in a duplicate payment in addition to the Change of Control Termination Payment described in Section 5(a). Thus, for example and for the avoidance of doubt, if a Participant receives a
Severance Payment under this Article 6, and a Change of Control Closing subsequently occurs within three (3) months of the date of termination, such Participant shall not be entitled to receive separate and full Change of Control Benefits, but
shall be entitled to receive such additional Change of Control Benefits as such Participant would have been entitled to receive pursuant to Article 5 of this Plan, less any amounts or benefits previously received under this Article 6. 

(c) No Severance Payments for Other Terminations. No Participant shall be entitled to any Severance Payment under this Plan for any
reason other than as set forth in Section 6(a), including without limitation death, disability, voluntary resignation (other than a Constructive Termination) or termination with Cause. 

7. Release. As a prior condition to a Participant receiving any Change of Control Termination Payment under Section 5(a) or
Severance Payment under Article 6, as applicable, of this Plan, the Participant shall execute a General Release Agreement (the “Release”) in the form attached hereto as Exhibit C-1 or C-2, as applicable, within such period as
is specified in the Release and this Article 7 after the applicable Triggering Event and not later revoke such Release. A Participant shall forfeit all rights to the Change of Control Termination Payment or

  
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Severance Payment, as applicable, and no payment shall be made unless such Release is signed and delivered and no longer subject to revocation (if applicable) within fifty-five (55) days
following the Triggering Event; provided that if the foregoing requirements of this Section 7 are met, the Change of Control Termination Payment or Severance Payment shall be made on the
60th day following the Triggering Event. 
 8. Parachute Payments.  

(a) Payments and Benefits Constituting Excess Parachute Payments. If any benefits a Participant would receive under Article 5 pursuant
to a Change of Control Transaction, from TV2 or otherwise (“Payment”) would (i) constitute a “Parachute Payment” within the meaning of Section 280G of the Code and (ii) but for this sentence, be subject to the
excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (i) the largest portion of the Payment that would result in
no portion of the Payment being subject to the Excise Tax or (ii)) the largest portion, up to and including the total of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes,
and the Excise Tax (all computed at the highest applicable marginal rate) results in the Participant’s receipt, on an after-tax basis of the greater amount of the Payment, notwithstanding that all or some portion of the Payment may be subject
to the Excise Tax. If a reduction in payments or benefits constituting a Parachute Payment is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the following order: reduction of cash payments, cancellation of
accelerated vesting of stock options and other equity awards (starting with the most recently granted), employee benefits (if any). 
 (b)
Calculations. An independent accounting firm shall be engaged to perform the foregoing calculation. Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive on the Participant and TV2. TV2
shall bear all costs the accounting firm may reasonably incur in connection with any calculations contemplated by this Article. 
 9. No
Mitigation. The Change of Control Benefits and the Severance Payment provided under this Plan are not subject to mitigation on the part of the Participant. 

10. Successors. 
 (a)
TV2’s Successors. This Plan shall be binding upon any successor (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the TV2’s business and/or
assets. TV2 shall require any successor to assume this Plan and agree to be bound by its terms. For all purposes under this Plan, the term “TV2” shall include any successor to the TV2’s business and/or assets that becomes bound by
this Plan. 
 (b) Participant’s Successors. This Plan and all rights of a Participant hereunder shall inure to the benefit of,
and be enforceable by, Participant’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

  
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 11. Amendment and Termination. The Plan Administrator may amend, modify or terminate the
Plan at any time or for any reason; provided, however, that no such amendment, modification or termination may adversely affect the interest of any Participant unless expressly agreed to in writing by the Participant. 

12. Claims Procedure. 

(a) Applications for Benefits and Inquiries. Any application for benefits, inquiries about the Plan or inquiries about present or
future rights under the Plan must be submitted to the Plan Administrator in writing, as follows: 
 Key Employee Change of Control and
Severance Payment Plan 
 c/o General Counsel, confidentially. 

TriVascular, Inc. 
 3910 Brickway
Blvd., 
 Santa Rosa, California 

(b) Denial of Claims. In the event that any application for benefits is denied in whole or in part, the Plan Administrator must notify
the applicant, in writing, of the denial of the application, and of the applicant’s right to review the denial. The written notice of denial shall be set forth in a manner designed to be understood by the employee, and shall include specific
reasons for the denial, specific references to the Plan provision upon which the denial is based, a description of any information or material that the Plan Administrator needs to complete the review and an explanation of the Plan’s review
procedure. 
 This written notice shall be given to the employee within ninety (90) days after the Plan Administrator receives the
application, unless special circumstances require an extension of time, in which case, the Plan Administrator has up to an additional ninety (90) days for processing the application. If an extension of time for processing is required, written
notice of the extension shall be furnished to the applicant before the end of the initial ninety (90)-day period. This notice of extension shall describe the special circumstances necessitating the additional time and the date by which the Plan
Administrator is to render his or her decision on the application. If written notice of denial of the application for benefits is not furnished within the specified time, the application shall be deemed to be denied. The applicant shall then be
permitted to appeal the denial in accordance with the review procedure described below. 
 (c) Request for a Review. Any person (or
that person’s authorized representative) for whom an application for benefits is denied (or deemed denied), in whole or in part, may appeal the denial by submitting a request for a review to the Plan Administrator within sixty (60) days
after the application is denied (or deemed denied). The Plan Administrator shall give the applicant (or his or her representative) an opportunity to review pertinent documents in preparing a request for a review and submit written comments,
documents, records and other information relating to the claim. A request for a review shall be in writing and shall be addressed to the Plan Administrator at the address specified in Section 12(a). A request for review must set forth all of
the grounds on which it is based, all facts in support of the request and any other matters that the applicant feels are pertinent. The Plan Administrator may require 

  
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the applicant to submit additional facts, documents or other material as it may find necessary or appropriate in making its review. 

(d) Decision on Review. The Plan Administrator shall act on each request for review within sixty (60) days after receipt of the
request, unless special circumstances require an extension of time (not to exceed an additional sixty (60) days), for processing the request for a review. If an extension for review is required, written notice of the extension shall be
furnished to the applicant within the initial sixty (60)-day period. The Plan Administrator shall give prompt, written notice of his or her decision to the applicant. In the event that the Plan Administrator confirms the denial of the application
for benefits in whole or in part, the notice shall outline, in a manner calculated to be understood by the applicant, the specific Plan provisions upon which the decision is based. 

(e) Rules and Procedures. The Plan Administrator may establish rules and procedures, consistent with the Plan and with ERISA, as
necessary and appropriate in carrying out his or her responsibilities in reviewing benefit claims. The Plan Administrator may require an applicant who wishes to submit additional information in connection with an appeal from the denial (or deemed
denial) of benefits to do so at the applicant’s own expense. 
 (f) Exhaustion of Remedies. No legal action for benefits under
the Plan may be brought until the claimant: (i) has submitted a written application for benefits in accordance with the procedures described by Section 12(a) above, (ii) has been notified by the Plan Administrator that the application
is denied (or the application is deemed denied due to the Plan Administrator’s failure to act on it within the established time period), (iii) has filed a written request for a review of the application in accordance with the appeal
procedure described in Section 12(c) above; and (iv) has been notified in writing that the Plan Administrator has denied the appeal (or the appeal is deemed to be denied due to the Plan Administrator’s failure to take any action on
the claim within the time prescribed by Section 12(d) above). 
 13. Miscellaneous Provisions. 

(a) Notice. Notices and all other communications contemplated by this Plan shall be in writing and shall be deemed to have been duly
given when personally delivered or when mailed by overnight courier, U.S. registered or certified mail, return receipt requested and postage prepaid. Mailed notices shall be addressed to a Participant at the home address which he or she has most
recently communicated to TV2 in writing. In the case of the TV2, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 

(b) Taxes. All payments made under this Plan shall be subject to reduction to reflect taxes or other charges that are required to be
withheld by applicable law. 
 (c) Choice of Law. The validity, interpretation, construction and performance of this Plan shall be
governed by the laws of the State of California. 
 (d) Severability. The invalidity or unenforceability of any provision or
provisions of this Plan shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 

  
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 (e) No Assignment. Except as otherwise provided herein, or by law, no right or interest of
any Participant under the Plan shall be assignable or transferable, in whole or in part, either directly or by operation of law or otherwise. No attempted assignment or transfer shall be effective; and no right or interest of any Participant under
the Plan shall be liable or, or subject to, any obligation or liability of such Participant. 
 (f) Plan Unfunded. The Plan shall be
an unfunded plan, payments and benefits of which shall be paid from the general assets of TV2. 
 (g) Headings. The headings of the
articles and sections contained in this Plan are for reference purposes only and shall not in any way affect the meaning or interpretation of any provision of this Plan. 

(h) Compliance with Section 409A. The parties intend that this Plan (and all payments and other benefits provided under this Plan)
be exempt from the requirements of Section 409A, to the maximum extent possible, whether pursuant to the short-term deferral exception described in Treasury Regulation Section 1.409A-1(b)(4), the involuntary separation pay plan exception
described in Treasury Regulation Section 1.409A-1(b)(9)(iii), or otherwise. To the extent Section 409A is applicable to such payments, the parties intend that this Plan (and such payments and benefits) comply with the deferral, payout and
other limitations and restrictions imposed under Section 409A. Notwithstanding any other provision of this Plan to the contrary, this Plan shall be interpreted, operated and administered in a manner consistent with such intentions. Without
limiting the generality of the foregoing, and notwithstanding any other provision of this Plan to the contrary: 
 (i) if at the time a
Participant’s employment terminates, the Participant is a “specified employee,” as defined in Treasury Regulation Section 1.409A-1(i) and determined using the identification methodology selected by TV2 from time to time, or if
none, the default methodology, any and all amounts payable under this Plan on account of such termination of employment that would (but for this provision) be payable within six (6) months following the date of termination, shall instead be
paid in a lump sum on the first day of the seventh month following the date on which Participant’s employment terminates or, if earlier, upon Participant’s death, except (i) to the extent of amounts that do not constitute a deferral
of compensation within the meaning of Treasury Regulation Section 1.409A-1(b) (including without limitation by reason of the safe harbor set forth in Treasury Regulation Section 1.409A1(b)(9)(iii), as determined by TV2 in its reasonable
good faith discretion); (ii) benefits which qualify as excepted welfare benefits pursuant to Treasury Regulation Section 1.409A 1(a)(5); and (iii) other amounts or benefits that are not subject to the requirements of
Section 409A; 
 (ii) a termination of employment shall not be deemed to have occurred for purposes of any provision of this Plan
providing for the payment of amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service,” as defined in Treasury Regulation Section 1.409A-1(h) after giving effect to
the presumptions contained therein, and, for purposes of any such provision of this Plan, references to a “terminate,” “termination,” “termination of employment,” “resignation,” “resign” and like
terms shall mean separation from service; 

  
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 (iii) each payment made under this Agreement shall be treated as a separate payment and the
right to a series of installment payments under this Plan shall be treated as a right to a series of separate payments; 
 (iv) with regard
to any provision in this Plan that provides for reimbursement of expenses or in-kind benefits, except for any expense, reimbursement or in-kind benefit provided pursuant to this Plan that does not constitute a “deferral of compensation,”
within the meaning of Treasury Regulation Section 1.409A-1(b) (including, without limitation, by reason of the safe harbor set forth in Treasury Regulation Section 1.409A-1(b)(9)(iii), as determined by TV2 in its reasonable good faith
discretion), (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during any taxable
year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year and (iii) such payments shall be made on or before the last day of Participant’s taxable year following the
taxable year in which the expense occurred; and 
 (v) in no event shall TV2 or any of its parents, subsidiaries or affiliates, be liable
for any additional tax, interest or penalty that may be imposed on Participant by Section 409A or damages for failing to comply with, or be exempt from, Section 409A. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, TriVascular, Inc. and TV2 Holding Company have adopted this Plan, effective
as of the day and year first above written. 
  

									
	TRIVASCULAR, INC.	 		 	TV2 HOLDING COMPANY
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	
					
	Date:	 	  
	 		 	Date:	 	  

  
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 Exhibit A 

Key Employee Change of Control and Severance Payment Plan 

Form of Participation Agreement 

This Participation Agreement (the “Agreement”) is by and between TV2 Holding Company (“TV2 Holding”) and its wholly-owned
subsidiary, TriVascular, Inc. (“TriVascular” and together with TV2 Holding, the “Company”) and              (the “Participant”) pursuant to the Key Employee
Change of Control and Severance Payment Plan (the “Plan”). 
 All capitalized terms used, but not defined, in this Agreement shall
have the meaning assigned to them in the Plan. 
 WHEREAS, pursuant to the Plan, the Participant is eligible, following certain specified
events, to receive the following payments and benefits, subject to the Participant’s execution and non-revocation of this Agreement: 
  

			
	Change of Control Termination Payment:	  	100% of Base Salary
	Change of Control Retention Payment:	  	100% of Base Salary
	Other Change of Control Benefits:	  	Full vesting of equity awards
	Severance Payment:	  	[50][customize]% of Base Salary;

 NOW, THEREFORE, in consideration of these premises and the mutual promises contained herein, and intending to
be legally bound hereby, the Participant agrees as follows: 
 1. In consideration for the compensation and benefits the Participant is
eligible to receive pursuant to the Plan, the Participant agrees to be bound by the terms of the Plan. 
 2. The Plan supersedes all
previous offer letters, management employment addenda, amendments to such addenda and all other arrangements with respect to any and all change of control or severance benefits except as otherwise provided in the Plan. 

3. The Participant represents and warrants that s/he: 

(a) has received a copy of the Plan, has read the Plan and has understood all of the terms of the Plan; 

(b) has had a full and reasonable opportunity to consider the terms of the Plan and of this Agreement and to consult with counsel and any
other person of his/her choosing before signing this Agreement; 
 (c) has not relied on any agreements or representations, express or
implied, that are not set forth expressly in the Plan or this Agreement; and 
 (d) has signed this Agreement knowingly and voluntarily.

 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Participant and the Company have executed this Agreement on the date(s)
written below. 
  

									
	PARTICIPANT	 		 	TRIVASCULAR, INC.
		 		 	TV2 HOLDING COMPANY
			
	  
	 		 	  

	Name:	 		 		 	Name:	 	
	Date:	 		 		 	Title:	 	
		 		 		 	Date:	 	

  
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 Exhibit B - CONFIDENTIAL 

Key Employee Change of Control and Severance Payment Plan 

List of Participants and Amount of Severance Payment 

[as updated from time to time] 
 Last updated:
                 , 20         

  
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 Exhibit C-1 

[Form of General Release Agreement for Employee Under Age Forty] 

  
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 Exhibit C-2 

[Form of General Release Agreement for Employee Age Forty or Older] 

  
 16 of 16

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