Document:

EX-10.16

 Exhibit 10.16 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This Amended and Restated Employment Agreement (“Agreement”), effective as of the 26th day of February, 2014 (the
“Effective Date”), is entered into by and between Christopher G. Chavez, an individual and resident of Texas (the “Executive”) and TriVascular, Inc., a California corporation (the “Company”). 

The Company and Executive previously entered into that certain Employment Agreement effective as of April 12, 2012 (the “Initial
Employment Agreement”). 
 The Company desires to continue to retain the services of Executive, in the capacity, on the terms and
conditions, and subject to the rights of termination hereinafter set forth, and Executive is willing to continue such employment in such capacity, on such terms and conditions, and subject to such rights of termination. 

In consideration of the mutual agreements hereinafter set forth, Executive and the Company have agreed and do hereby agree to amend and
restate the Initial Employment Agreement as follows: 
 1. Employment as Chairman, Chief Executive Officer and President of the Company;
Commencement of Employment; Other Obligations. The Company agrees to employ Executive as Chief Executive Officer and President of the Company performing the customary and other full-time duties as assigned by the Company’s Board of
Directors or the Board of Directors of the Company’s parent, TriVascular Technologies, Inc., a Delaware corporation (“TRIV”), (collectively referred to here as the “Board”). The Company and TRIV also acknowledge that the
Executive will serve on each organization’s Board of Directors as Chairman and will serve as the Chief Executive Officer and President of TRIV. The Company and TRIV further agree to modify, edit, or amend any equity plans to allow for the
effectuation of the terms of this Agreement. The Executive agrees that if his employment with the Company terminates for any reason that he shall also resign his membership from the Board and any position as an officer of the Company, TRIV and/or
the Board, with such resignation effective the same date as the date his employment terminates. The Company agrees that Executive must approve any announcement concerning his relationship with the Company prior to publication, except as may be
required by applicable law. 
 2. Term of Employment. Executive’s employment under this Agreement is “at will” meaning
that either he or the Company may terminate the employment relationship for any reason and at any time. The only obligations that the parties have with regard to notice of termination and severance are those provided expressly by this Agreement.

 3. Compensation. 

(a) Base Salary. The Company shall pay Executive, and Executive agrees to accept from the Company, in payment for his services to the
Company, a base salary at the rate of $450,000 (gross) per year (“Base Salary”), subject to all withholdings and deductions as are required or authorized by law, and payable in accordance with the company’s normal payroll schedule for
other senior executives. Base Salary shall be subject to such adjustments as the Company and Executive shall mutually agree. 
 (b)
Equity/Longterm Incentive Awards. 
 (i) Initial Grant. Executive acknowledges the receipt of a stock option granted under
TRIV’s 2008 Equity Incentive Plan to purchase up to 26,534,708 shares of TRIV’s 

 
common stock in full satisfaction of the “Initial Grant” under the Initial Employment Agreement. The Initial Grant was issued in August 2012 and was fully vested with respect to
8,438,037 shares, with the remaining 18,096,671 shares subject to vesting pro rata monthly over the next 36 months beginning February 1, 2013. 

(ii) Subsequent Grants. Beginning January 1, 2016, subject to Board approval and discretion, Executive will be eligible to earn
additional long-term equity incentive awards based upon Executive’s performance and the Company’s business circumstances. 

(c) Performance Bonus. Executive will be eligible to receive an annual bonus in a range of 50% to 200% of Base Salary (the
“Performance Bonus”) based on one or more performance targets for a given calendar year as set by the Board in its sole discretion. The target amount of the Performance Bonus for satisfaction of the set performance targets shall be 100% of
Executive’s Base Salary (the “Target Cash Bonus”). The Board shall determine in its sole discretion whether Executive has satisfied or exceeded the applicable performance target(s). 

Except as otherwise provided in Section 8, in lieu of the Performance Bonus or any other cash bonus payment for the calendar years ending
December 31, 2012 through 2015, Executive will be granted additional equity grants on or before March 1 of the immediately following respective year, each in the amount equal to 1,205,750 shares (subject to adjustments for any stock splits
or stock combinations) of TRIV’s common stock. These equity grants will be fully vested on the date granted. Executive acknowledges the receipt of a stock option to purchase up to 1,205,750 shares of TRIV’s common stock in February 2013 in
full satisfaction of the bonus obligations for the year ended December 31, 2012. 
 The Board at its sole discretion may award a
greater amount of bonus compensation at any time in any form including but not limited to cash, stock or options. 
 4. Health and
Welfare Benefits. Executive will be entitled to participate in any benefit programs adopted from time to time by the Company for the benefit of its senior executives, and Executive shall be entitled to receive such other fringe benefits as may
be granted to him from time to time by the Board. 
 (a) Health, Dental and Disability Insurance. Executive shall be entitled to
participate in all health, dental and disability plans or programs made available by the Company to its employees generally. In addition, executive will be reimbursed for an annual comprehensive physical conducted by the Cooper Clinic. 

(b) Other Benefit Plans. Executive shall be entitled to participate in any other benefit plans available to other senior executive
employees of the Company, subject to any restrictions (including waiting periods) specified in such plans and/or related individual agreements. 

(c) Paid Time Off. Executive shall be entitled to paid time off (“PTO”) in accordance with Company policies except,
notwithstanding any Company policy to the contrary, he will be eligible to take 20 days of PTO in his first year of employment. Thereafter, he will be eligible to take either 20 days of PTO per calendar year or any greater amount of PTO permitted by
Company policy. 
 (d) Travel. The Company will reimburse Executive for all reasonable travel expenses incurred on Company business.

 5. Business Expenses and Attorneys’ Fees. The Company shall reimburse Executive for any and all reasonable, necessary,
customary and usual expenses, properly receipted in accordance with Company policies, incurred by Executive on behalf of the Company. 

  
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 6. Termination of Executive’s Employment. 

(a) Death. If Executive dies while employed by the Company, his employment shall immediately terminate. The Company’s obligation
to pay Executive’s Base Salary shall cease as of the date of Executive’s death, and any unpaid Base Salary shall be paid to Executive’s estate. In addition, within fifteen (15) days of Executive’s death, the Company shall
pay to Executive’s estate the Target Cash Bonus prorated for the number of days worked in the year. Executive’s beneficiaries or his estate shall receive benefits in accordance with the Company’s retirement, insurance and other
applicable programs and plans then in effect. Stock grants, options or other equity-related awards shall vest in accordance with the formula outlined in Section 3(b)(i.) above using a monthly-prorated calculation upon Executive’s death. In
the event of death, Executive’s estate may exercise vested options until the earlier of (i) the original termination date of the option or (ii) three years after the date of Executive’s termination due to death. 

(b) Disability. If Executive is absent and unable to perform the essential functions of the Executive’s job with or without
reasonable accommodation as a result of a physical or mental disability or infirmity, which has continued for a period of three (3) consecutive months, as a result of Executive’s incapacity due to physical or mental illness
(“Disability”), and, within thirty (30) days after written notice is provided to him by the Company, he shall not have returned to the full-time performance of his duties, Executive’s employment under this Agreement shall be
deemed terminated by the Company for Disability. During any period prior to such termination during which Executive is absent from the full-time performance of his duties with the Company due to Disability, the Company shall continue to pay
Executive his Base Salary at the rate in effect at the commencement of such period of Disability. In addition, within fifteen (15) days of termination for Disability, the Company shall pay to Executive’s estate the Target Cash Bonus
prorated for the number of days worked in the year. Subsequent to such termination, Executive’s benefits shall be determined under the Company’s retirement, insurance and other compensation programs then in effect in accordance with the
terms of such programs. Stock grants, options or other equity-related awards shall vest in accordance with the formula outlined in Section 3 (b)(i.) above using a monthly-prorated calculation upon Executive’s Disability. In the event of
termination for Disability, Executive or his estate may exercise vested options until the earlier of (i) the original termination date of the option or (ii) three years after the date of Executive’s termination due to Disability. 

(c) Termination by the Company For Cause. The Company may terminate Executive’s employment under this Agreement for Cause. For
purposes of this Agreement, “Cause” shall mean (i) after providing written notice to Executive and a 30 day period to cure, a material breach by Executive of Executive’s contractual obligations to the Company concerning
Executive’s employment or the Company’s written policies; (ii) after providing written notice to Executive and a 30 day period to cure, Executive’s gross negligence, serious misconduct or a material failure by Executive in
connection with the discharge of Executive’s duties or otherwise relating to Executive’s employment with the Company; (iii) Executive’s use of drugs or alcohol in such a manner as to materially interfere with Executive’s
performance of his duties; or (iv) Executive’s conviction of or plea of no “contest” to a felony. In the event of a termination under this Section 6(c), the Company will pay only the portion of Base Salary earned through the
date of termination and any Performance Bonus previously awarded but not yet paid to Executive. Fringe benefits and options or stock which have accrued and/or vested on the termination date will continue in effect according to their terms. 

  
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 (d) Termination by the Company Without Cause. The Company may terminate Executive’s
employment hereunder at any time without Cause upon 30 days’ written notice to Executive or pay in lieu thereof. In the event of a termination under this Section 6(d), Executive shall be entitled to the benefits set forth in
Section 7 unless there has been a Change in Control, in which Section 8 applies. 
 (e) Termination by Executive for Good
Reason. Executive shall have the right to terminate this Agreement for Good Reason. For purposes of this Agreement, termination with “Good Reason” shall mean Executive actually terminates his employment with the Company within three
(3) months after any of the following and that Executive has provided the Company written notice of the ground(s) for termination with Good Reason and the Company has failed to remedy the ground(s) for termination with Good Reason within 30
days of written notice by Executive: (i) a breach by the Company of its contractual obligations to Executive concerning his employment that is not timely cured; (ii) a reduction in Executive’s overall cash and equity compensation or a
material reduction in benefits, in each case without his consent, or (iii) a diminution in Executive’s overall responsibilities without his consent, using as the baseline his overall responsibilities as of the date of this Agreement. 

In the event of a termination under this Section 6(e), Executive shall be entitled to the benefits set forth in Section 7 unless
there has been a Change in Control, in which case Section 8 applies. 
 (f) Termination by Executive for Any Reason. Executive
may at any time terminate his employment hereunder for any reason or no reason by giving the Company notice in writing not less than thirty (30) days in advance of such termination. In the event of a termination by Executive under this
Section 6(f), the Company will pay only the portion of Base Salary or previously awarded bonus unpaid as of the termination date. Fringe benefits and options which have accrued and/or vested on the termination date will continue in effect
according to their terms. Executive or his estate may exercise vested options until the earlier of (i) the original termination date of the option or (ii) three years after the date of termination by Executive. 

7. Compensation Upon Termination by the Company Without Cause or by Executive For Good Reason. 

(a) If Executive’s employment shall be terminated by the Company without Cause (other than by reason of death or Disability) or by
Executive for Good Reason, Executive shall be entitled to the following benefits: 
 (i) Payment of Unpaid Base Salary. The Company
shall immediately pay Executive any portion of Executive’s Base Salary through the date of termination or any previously awarded bonus not paid prior to the termination date. 

(ii) Severance Payment. The Company shall pay Executive a lump sum equal to one (1) times Executive’s Base Salary plus a
lump sum amount equal to one (1) times Executive’s Target Cash Bonus as in effect immediately prior to his termination. 
 (iii)
Timing; Release. Payment under Section 7(a)(i) shall be made immediately. Payment under Section 7(a)(ii) shall be made in accordance with the provisions of Section 21. 

(b) Equity-Related Awards. In addition to the benefits set forth in Section 7(a), if Executive’s employment is terminated by
the Company without Cause (other than by reason of death or Disability) or by Executive for Good Reason, any stock grants, options or other equity-related awards then held by Executive, to the extent not already vested as of such termination, will
immediately vest with respect to an additional 12 month period, as if Executive continued to provide services to the Company 

  
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during such additional 12 months, and Executive or his estate may exercise vested options until the earlier of (i) the original termination date of the option or (ii) three years after
the date of Executive’s termination. 
 8. Compensation Upon and Terms of Employment Following a Change in Control. 

(a) For purposes of this Agreement: 

(i) “Change in Control” means a Business Combination in which less than fifty percent (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
the Company or TRIV immediately prior to such transaction. 
 (ii) “Business Combination” means a transaction or series of
related transactions resulting in (x) the sale of all or substantially all of the assets of the Company or TRIV; (y) a merger or consolidation or other reorganization of which the Company, or its subsidiary, or TRIV is a merging party, or
(z) the sale or other change of beneficial ownership of at least 50% of the outstanding voting securities of the Company or TRIV (excluding any such sale or change in connection with a transaction for bona fide capital raising purposes). 

(iii) “Successor Entity” means a corporation or other entity other than the Company or TRIV that in a Business Combination acquires
all or substantially all of the assets of the Company or TRIV or is the surviving party in a merger or consolidation or other reorganization, provided that if there is no such corporation or other entity in a Business Combination, then for that
Business Combination the Successor Entity is the Company or TRIV, as applicable. 
 (b) Following the first anniversary of the
closing of a Change in Control event or upon the Executive’s Termination of Employment per the terms of Paragraphs 6(a), (b), (d) or (e), whichever occurs earlier, Executive will be entitled to receive the following payments and other
benefits: 
 (i) Payment of Unpaid Base Salary if Terminated. The Company or the Successor Entity shall immediately pay Executive
any portion of Executive’s Base Salary earned through the date of termination and any previously awarded bonus not paid prior to the termination date. 

(ii) Change in Control Bonus. Following the first anniversary of the closing of a Change in Control event or upon the Executive’s
Termination of Employment per the terms of Paragraphs 6(a), (b), (d) or (e), whichever occurs earlier, the Company or the Successor Entity shall pay Executive a lump sum amount equal to two (2) times Executive’s Base Salary
plus a lump sum amount equal to two (2) times the Target Cash Bonus as in effect immediately prior to his termination. 

(iii) Release. Payments under Section 8(b)(ii) shall be made in accordance with the provisions of Section 21. 

(iv) Terms of Continued Employment. The Executive agrees that he will remain employed with or work for the Successor Entity for a
period of at least 12 months following a Change in Control. The terms of the Executive’s employment with the Successor Entity shall be equivalent to the terms set forth in Paragraphs 3(a) and (c); 4, 5, 6(a) and (b), and 9 – 23. 

(c) Equity-Related Awards. In the event of a Change in Control, and without regard to any termination of employment, any stock grants,
options or other equity-related awards then 

  
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held by Executive, to the extent not already vested as of the closing of such Change in Control event, will immediately vest in full, and shall be exercisable for such period as set forth in the
applicable award agreements by which such awards are evidenced. 
 9. Protection of the Company’s Intellectual Property. 

Executive and the Company acknowledge and agree that during and solely as a result of his employment by the Company, the Company will provide
confidential information to Executive in order to allow Executive to fulfill his obligations as an executive of the Company and under this Agreement. In consideration of the special and unique opportunities afforded to Executive by the Company as a
result of Executive’s employment, as outlined in the previous sentence, Executive hereby agrees as follows: 
 (a)
Noncompetition. 
 (i) Agreement Not to Compete. Executive agrees that during his employment and for a period of twelve
(12) months following Executive’s termination of employment for any reason (the “Restricted Period”) Executive shall not (other than for the benefit of the Company or any of its affiliated entities pursuant to this Agreement)
compete with the Company (or any of its affiliated entities) anywhere in the world in the field of Endovascular Aortic Repair (the “Restricted Business”). Without limiting the generality of the foregoing, Executive shall refrain during the
Restricted Period from engaging in the conception, design, development, production, marketing, or servicing of any product or service in the Restricted Business, and Executive shall not work for, assist, loan money, extend credit or become
affiliated with as an individual, owner, partner, director, officer, stockholder, employee, advisor, independent contractor, joint venturer, consultant, agent, representative, salesman or any other capacity, either directly or indirectly, any
individual or business that offers or performs services, or offers or provides products, or is researching or developing products, in the Restricted Business. The restrictions of this Section 9(a) shall not be violated by (1) the ownership
of no more than 1% of the outstanding securities of any company whose equity securities are traded on a national securities exchange, or (2) employment with a division or subsidiary of a company or enterprise that is not engaged in the
Restricted Business even if another division or subsidiary is engaged in the Restricted Business; provided that in no event shall the Executive engage or participate in the Restricted Business in connection with such employment. 

(ii) Acknowledgment Regarding Restrictive Covenants. Executive acknowledges that the Company has taken reasonable steps to maintain
the confidentiality of its confidential information and its ownership interests in its intellectual property, which is extremely valuable to the Company and provides the Company with a competitive advantage in its market. Executive further
acknowledges that the Company would suffer irreparable harm if Executive were to use or enable others to use such knowledge, information, and business acumen in competition with the Company. Executive acknowledges the necessity of the noncompetition
covenants set forth in this Section 9(a) (the “Restrictive Covenants”) to: protect the Company’s legitimate interests in its confidential information; protect Company’s customer relations and the goodwill with customers and
suppliers that it has established at its substantial investment; and protect the Company as a result of providing Executive with specialized knowledge, training, and insight regarding the Company’s operations. Executive further agrees and
acknowledges that the Restrictive Covenants are reasonably limited as to time, geographic area, and scope of activities to be restricted and that such promises do not impose a greater restraint on Executive than is necessary to protect the goodwill,
confidential and other legitimate business interests of the Company. Executives agrees that any breach of the Restrictive Covenants cannot be remedied solely by money damages, and that in addition to any other remedies the Company may have, the
Company is entitled to obtain interim relief against Executive without the 

  
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requirement of posting bond or other security. Nothing herein, however, shall be construed as limiting the Company’s right to pursue any other available remedy at law or in equity, including
recovery of damages. 
 (b) Duty To Avoid Conflict Of Interest. During his employment by the Company, Executive agrees not to engage
or participate in, directly or indirectly, any activities in conflict with the best interests of the Company. 
 (c) Employee Invention
and Confidential Information Agreement. Executive acknowledges that he executed and is subject to the Company’s Employee Invention and Confidential Information Agreement (“EICIA”) in the form attached as Exhibit A. 

(d) Nonsolicitation. Executive promises and agrees that he will not directly or indirectly solicit any of the Company’s employees
to work for any competing organization as determined under Section 9(a) for a period of one (1) year following the termination of Executive’s employment. 

10. Notices. All notices and other communications under this Agreement shall be in writing and shall be given by fax or first class
mail, certified or registered with return receipt requested, and shall be deemed to have been duly given three (3) days after mailing or twenty-four (24) hours after transmission of a fax to the respective persons named below: 

 

			
	If to the Company:	  	TriVascular, Inc.
		  	3910 Brickway Blvd.
		  	Santa Rosa, CA 95403
		  	Facsimile: (707) 541-3952
		  	Attn. Chief Financial Officer
		
	If to Executive:	  	Christopher G. Chavez
		  	P.O. Box 670884
		  	Dallas, TX 75367

 Either party may change such party’s address for notices by notice duly given pursuant hereto. 

11. Termination of Prior Agreements. This Agreement terminates and supersedes any and all prior agreements and understandings between
the parties with respect to employment or with respect to the compensation of Executive by the Company. 
 12. Assignment;
Successors. This Agreement is personal in its nature, and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any rights or obligations hereunder; provided, however, that, in the
event of the merger, consolidation, transfer, or sale of all or substantially all of the assets of the Company with or to any other individual or entity, the Company shall ensure that this Agreement shall, subject to the provisions hereof, be
binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder. 

13. Governing Law. This Agreement and the legal relations thus created between the parties hereto shall be governed by and construed
under and in accordance with the internal laws of the State of Texas, without regard to its conflicts of law principles. 

  
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 14. Entire Agreement; Headings. This Agreement, together with the EICIA, the
Company’s written policies and other standard agreements required to be signed by the Company’s employees and TRIV equity holders, including without limitation the Amended and Restated Stockholders Agreement, embodies the entire agreement
of the parties with respect to the subject matter hereof, and may be modified only in a writing signed by both Executive and a duly authorized representative of the Board or an officer of the Company authorized by the Board. Section headings in this
Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose. 

15. Waiver; Modification. Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be
deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such
right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto. 

16. Severability. In the event that a court of competent jurisdiction determines that any portion of this Agreement is in violation of
any statute or public policy, only the portions of this Agreement that violate such statute or public policy shall be stricken. All portions of this Agreement that do not violate any statute or public policy shall continue in full force and effect.
Further, any court order striking any portion of this Agreement shall modify the stricken terms as narrowly as possible to give as much effect as possible to the intentions of the parties under this Agreement. 

17. Compliance with Section 409A. 

(a) The parties acknowledge and agree that, to the extent applicable, this Agreement is intended to comply with, or be exempt from,
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the Department of Treasury Regulations and other interpretive guidance issued thereunder (collectively, “Section 409A”), including without
limitation any such regulations or other guidance that may be issued after the Effective Date. Notwithstanding any provision of this Agreement to the contrary, in the event that the Company or Executive determines that any compensation or benefits
payable or provided under this Agreement may be subject to Section 409A, the Company will adopt such limited amendments to this Agreement and appropriate policies and procedures, including amendments and policies with retroactive effect, that
the Company reasonably determines are necessary or appropriate to (a) exempt the compensation and benefits payable under this Agreement from Section 409A and/or preserve the intended tax treatment of the compensation and benefits provided
with respect to this Agreement or (b) comply with the requirements of Section 409A. 
 (b) A termination of
Executive’s employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a
“separation from service,” within the meaning of Section 409A and, for purposes of any such provision in this Agreement, references to a “termination,” “termination of employment,” “termination of
services” or like terms shall mean “separation from service,” within the meaning of Section 409A. 
 (c)
Notwithstanding any other provision relating to payment provided in this Agreement to the contrary, if Executive is identified on the date of his or her separation from service as a “specified employee,” within the meaning of that term
under Code Section 409A(a)(2)(B), then all rules regarding payments to specified employees under Section 409A shall apply and any provisions relating to payment in this Agreement to the contrary shall be disregarded. 

  
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 18. Excise Tax Gross-Up. In the event that the Executive becomes entitled to the payments
and benefits provided under the provisions of this Agreement or his employment with the Company (“Payments and Benefits”), if any of the Payments and Benefits will be subject to any excise tax imposed under Section 4999 of the Code,
or successor sections thereto (“Excise Tax”), the Company or TRIV shall pay to or for the benefit of the Executive an additional amount (the “Gross-Up Payment”) such that the net amount retained by the Executive, after deduction
of any Excise Tax on the Payments and Benefits and any federal, state and local income tax and Excise Tax upon the payments shall be equal to the amount of the Payments and Benefits. For purposes of determining whether any of the Payments and
Benefits will be subject to the Excise Tax and the amount of such Excise Tax, (i) any other payments or benefits received or to be received by the Executive that are contingent on a transaction described in Section 280G(b)(2)(A)(i) of the
Code or on an event, including (without limitation) a termination of the Executive’s employment that is materially related to such a transaction (whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement with
the Company, any person whose actions result in such a transaction, or any person affiliated with the Company or such person) shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and all
“excess parachute payments” within the meaning of Section 280G(b)(1) of the Code shall be treated as subject to the Excise Tax, unless, in the opinion of tax counsel selected by the Company and reasonably acceptable to the Executive,
such other payments or benefits (in whole or in part) do not constitute “parachute payments,” including by reason of Section 280G(b)(4)(A) of the Code, or such excess “parachute payments” (in whole or in part) represent
reasonable compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the Base Amount (as defined in Section 280G(b)(3) of the Code) allocable to such reasonable compensation, or are
otherwise not subject to the Excise Tax; (ii) the amount of the Payments and Benefits which shall be treated as subject to the Excise Tax shall be equal to the lesser of (A) the total amount of the Payments and Benefits or (B) the
amount of “excess parachute payments” within the meaning of Section 280G(b)(1) of the Code (after applying clause (i), above); and (iii) the value of any non-cash benefits or any deferred payment or benefit shall be determined by
the Company’s independent auditors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. For purposes of determining the amount of the Gross-Up Payment, the Executive shall be deemed to pay federal income taxes
at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation in the state and locality of the Executive’s
residence on the termination date of employment, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes based on the marginal rate referenced above. In the event that the Excise Tax
is subsequently determined to be less than the amount taken into account hereunder at the termination date, the Executive shall repay to the Company or TRIV, at the time that the amount of such reduction in Excise Tax is finally determined, the
portion of the Gross-Up Payment attributable to such reduction (plus that portion of the Gross-Up Payment attributable to the Excise Tax and federal, state and local income tax imposed on the Gross-Up Payment being repaid by the Executive to the
extent that such repayment results in a reduction in Excise Tax and/or a federal, state or local income tax deduction) plus interest on the amount of such repayment at the rate provided in Section 1274(b)(2)(B) of the Code. In the event that
the Excise Tax is determined to exceed the amount taken into account hereunder at the time of the termination of the Executive’s employment (including by reason of any payment, the existence or amount of which cannot be determined at the time
of the Gross-Up Payment), the Company or TRIV shall make an additional Gross-Up Payment in respect of such excess (plus any interest, penalties or additions payable by the Executive with respect to such excess, but only to the extent that such
interest, penalties or additions would not have been reduced by prompt payment by the Executive to the appropriate tax authority of the Gross-Up Payments previously received) at the time that the amount of such excess is finally determined. The
Executive and the Company shall each reasonably cooperate with the other in connection with any administrative or judicial proceedings concerning the existence or amount of liability for Excise Tax with respect to the Payments and Benefits. 

  
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 If the Executive consents in writing, notwithstanding the foregoing, in the event of a Change in
Control, if any of the Payments and Benefits under this Agreement would be subject to the Excise Tax, the Company or TRIV, if duly authorized by the Board, shall, in accordance with the provisions under Treasury Regulation Section 1.280G-1,
submit all “parachute payments” within the meaning of Code Section 280G(b)(2) to be otherwise received by the Executive to a vote of approval by the stockholders of the Company. Executive acknowledges that if the Company or TRIV does
submit the “parachute payments” to a vote of the stockholders and uses reasonable and good faith diligent efforts to secure the approval of the stockholders of such “parachute payments” but the stockholders fail to approve the
“parachute payments,” then the Executive agrees to forfeit such benefits and payments under Section 8 of this Agreement that constitute “excess parachute payments” under Code Section 280G(b)(1) that are subject to the
Excise Tax. 
 19. Indemnification. Executive acknowledges entering into TRIV’s standard form of Indemnification Agreement
providing for the same indemnification of Executive as all of its other directors and executive officers. The Company has purchased and intends to maintain a Directors and Officers liability insurance policy providing for customary insurance
coverage for the benefit of all of its directors and officers. 
 20. Confidentiality of Agreement. Executive agrees to keep the
terms and conditions of this Agreement confidential to the extent allowed by law, except Executive may supply a copy to Executive’s accountant or other financial advisors, to members of Executive’s immediate family and to Executive’s
attorney on a confidential basis. The Company agrees to keep the terms and conditions of this Agreement confidential to the extent allowed by law and to only divulge the terms of this Agreement to those employees or Board members of the Company and
the Company’s legal, accounting and financial advisors with a business need to know the information. Company employees provided access to the terms of this Agreement will additionally be bound to the confidentiality obligations of the Company.

 21. Release Required for Certain Payments; Timing. All payments and benefits due to Executive under Sections 7 and 8 which are not
otherwise required by law shall be contingent upon execution by Executive (or Executive’s beneficiary or estate) of a general release, in substantially the form attached as Exhibit B, subject to such modifications as may be necessary to
address changes in the applicable laws, of all claims to the maximum extent permitted by law against the Company and each of its affiliates and current and former stockholders, managers, employees and agents, in such form as determined by the
Company in its sole discretion. Executive shall forfeit all rights to such payments and benefits unless such release is signed and delivered and no longer subject to revocation (if applicable) within 59 days following the date of Executive’s
termination. Provided that the foregoing requirements of this Section 21 are met, all payments covered by this Section 21 shall be made on the 60th day following the date of
Executive’s termination. 
 22. Arbitration. Any and all disputes related to this Agreement or otherwise arising out of or
related to Executive’s employment with the Company, or its parents, subsidiaries, affiliates, employees, officers, directors, insurers, attorneys, and agents (each of whom is expressly designated an intended beneficiary of this agreement to
arbitrate) shall be submitted to and resolved through final and binding arbitration. The arbitration will replace any civil litigation in a court of law; meaning that both Executive and the Company are each waiving any right to a jury trial.
The arbitrator’s decision shall be final and binding to the fullest extent permitted by law, and will be enforceable by any court having jurisdiction thereof. The disputes subject to arbitration include, but are not limited to, any claims
for breach of contract (including breach of the Restrictive Covenants), discrimination or harassment, or violation of any other federal, state or local law or regulation. Arbitration is to be conducted in Dallas, Texas, in accordance with the rules
and regulations of the America Arbitration Association (“AAA”) using its National 

  
 10 

 
Employment Dispute Resolution Rules (a copy of which is currently available at the AAA website, www.adr.org), including procedures for discovery sufficient to adequately arbitrate any statutory
claims, as determined by the arbitrator. The Company will pay all costs that are unique to arbitration, such as the arbitrator’s fees. The foregoing agreement to arbitrate shall not preclude either Executive or the Company from seeking interim
relief in a court of law to prevent irreparable harm, where such relief cannot await the conclusion of an arbitration proceeding, and both Executive and the Company agree that a request for such interim relief shall not waive any party’s right
to demand arbitration pursuant to this Agreement. 
 23. Venue. To the extent a dispute arises between Executive and the Company or
any of its parents, subsidiaries, or affiliates that is not subject to mandatory arbitration under this Agreement (for example, if a party seeks interim relief from a court that is ancillary to an arbitrable claim), the federal and state courts in
Dallas County, Texas shall have exclusive jurisdiction over the dispute. To the extent not inconsistent with their agreement to arbitrate, both the Company and Executive (i) consent to the personal jurisdiction of said courts, (ii) waive
any venue or inconvenient forum defense to any proceeding maintained in such courts and (iii) agree not to initiate or participate in any proceeding arising out of or relating to this Agreement or Executive’s employment by the Company in
any other court. 

  
 11 

 In Witness Whereof, the Company has caused this Agreement to be executed by its duly
authorized officer, and Executive has hereunto signed this Agreement, as of the Effective Date. 
  

			
	TriVascular, Inc. and
	TriVascular Technologies, Inc.
		
	By:	 	 /s/ Douglas A. Roeder

		 	 Douglas A. Roeder

		 	 Chairman of the Compensation Committee of the Board of Directors

	
	 /s/ Christopher G. Chavez

	Christopher G. Chavez

 Exhibit A 

Employee Invention and Confidential Information Agreement 

 Exhibit B 

Form of ReleaseEX-10.17

 Exhibit 10.17 

TRIVASCULAR 
 July 3, 2012 

Dear Mike: 
 This letter will serve as an amendment (the
“Amendment”), effective July 1, 2012, to your offer letter, dated October 27, 2009 and effective as of March 28, 2008 (the “Offer Letter”), initially entered
into in connection with your employment by TriVascular, Inc., a California corporation (“TriVascular”) and a wholly-owned subsidiary of TV2 Holding Company, a Delaware corporation (“TV2
Holding” and together with TriVascular, the “Corporations”). Except as modified by this Amendment, the terms of your Offer Letter will remain in full force and effect. 

Position and Title; Board of Directors Membership. We are pleased to offer you the position of Chief Technology Officer
(“CTO”) at TriVascular and TV2 Holding, reporting directly to the Corporations’ President and Chief Executive Officer, on the terms and conditions being set forth in this Amendment. In addition, we expect
that you will continue to serve on the Board of Directors of each of TriVascular and TV2 Holding. 
 Duties and Responsibilities. As the CTO, you
will handle or otherwise manage, either directly or indirectly, such responsibilities with respect to the Corporations’ technology and products as are customary for an executive level technology officer and as directed by the President and
Chief Executive Officer, including without limitation the specific functions and tasks set forth on Schedule A hereto. 
 Pay and Benefits.
Your compensation and benefits, effective as of July 1, 2012, will be those set forth on Schedule B hereto; provided that TriVascular continues to reserve the right to change or discontinue its benefits available to employees, generally,
from time to time. 
 Effect of this Amendment on Founder Employment Addendum. For the purposes of your Founder Employment Addendum dated
October 30, 2009, as amended from time to time (collectively, the “Addendum”), this Amendment shall have the effect of your express consent to the change in your overall responsibilities to those of the
CTO, as specified herein, with respect to the definition of “Constructive Termination” set forth in Schedule 1 to the Addendum. Further, for the purposes of such definition of “Constructive Termination,” your responsibilities as
the CTO specified herein will be deemed the new baseline under clause (iv) thereof and the paragraph entitled “Severance Benefits” shall be amended and restated in its entirety as set forth on Schedule C hereto, with all other
terms and conditions of the Addendum remaining unchanged and in full force and effect. Any capitalized tell is used in Schedule C, but not specifically defined therein, shall have the meaning assigned to them in the Addendum. 

Please indicate your acceptance of this Amendment by signing and returning one copy of this letter to us. 

We look forward to your continued involvement with the TV2 Holding and TriVascular team. 

 TRIVASCULAR 

 

			
	Sincerely,
	
	TV2 Holding Company and TriVascular, Inc.
		
	By:	 	 /s/ Christopher G. Chavez

		 	Christopher Chavez
		 	President and Chief Executive Officer

  

					
	Accepted:	 		 	
			
	/s/ Michael V. Chobotov	 	  
	 	July 3, 2012
	Michael V. Chobotov	 		 	Date

 TRIVASCULAR 

 

 Schedule A 

CTO Functions and Tasks 
 As the CTO, you
will be responsible for the following specific functions and tasks: 
  

	(1)	Managing the Corporations’ overall intellectual property portfolio; 

  

	(2)	Exploring business and strategic opportunities for the Corporations’ platform within the EVAR/TEVAR space; 

  

	(3)	Exploring business and strategic opportunities for the Corporations’ platform outside the EVAR/TEVAR space; 

  

	(4)	Serving as the Corporations’ Independent Technical Reviewer and Research & Development “coach”, as needed; 

  

	(5)	Serving as Santa Rosa “founder and host” for visiting physicians, scientists and investors, as needed; and 

  

	(6)	Performing such other projects as may be assigned from time to time. 

 TRIVASCULAR 

 

 Schedule B 

Salary and Compensation Benefits 

Effective July 1, 2012, your compensation and other benefits will be as follows: 

 

	(1)	Annual base salary of $264,000 (the “Base Salary”), less all applicable deductions and withholdings and paid in accordance with TriVascular’s standard payroll practice. 

 

	(2)	Eligibility to earn an annual performance bonus of up to 30% of the Base Salary based on criteria established by the President and Chief Executive Officer. 

 

	(3)	Entitlement to the TriVascular standard employee benefits package then in effect for all employees. 

  

	(4)	Continuation of vesting in the currently held stock options, as long as you continue to be employed by TriVascular as an executive officer in good standing, or during the severance periods specified in Schedule C to
this Amendment, as long as you continue to provide bona fide services to the Corporations during such periods. 

  

	(5)	Continuation of the terms and conditions of your promissory note dated January 31, 2011, and the related pledge agreement, as long as you continue to be employed by TriVascular as an executive officer in good
standing. 

  

	(6)	Eligibility to participate in future option (or other equity incentive) grants, on terms and conditions no more favorable than for other senior executives of TriVascular. 

 

	(7)	Eligibility to participate in any “carve out plan” or other “transaction bonus” plan, subject to the approval and implementation of any such plan by the Board of Directors on terms and conditions no
more favorable than for other senior executives of TriVascular. 

  

	(8)	Continuation of the terms and conditions of the Addendum, as modified by this Amendment. 

 TRIVASCULAR 

 

 Schedule C 

Severance Benefits 

[Superseded by Key Employee Change of Control and Severance Payment Plan] 

 TRIVASCULAR 

 

 October 27, 2009 

Michael V. Chobotov 
 Dear Mike: 

This letter confirms the terms of your employment in the position of President/Chief Executive Officer at TriVascular2, Inc. (“TriVascular2”),
reporting to the boards of directors for TV2 Holding Company and TriVascular2, Inc. 
 Pay and Benefits. The salary for this position is
$25,750.00 per month less all applicable deductions, paid biweekly in accordance with TriVascular2’s standard payroll practice. You are entitled to the TriVascular2 benefits package outlined on the attached sheet. TriVascular2 reserves the
right to change or discontinue its employee benefits from time to time. 
 Personnel Policies. Like all employees of TriVascular2, you are
expected to comply with the rules, procedures, and policies of TriVascular2 as adopted from time to time. During the time that you are employed by TriVascular2, unless you receive prior approval from one of the officers (or the Board of Directors),
you will not directly or indirectly own an interest in, join, operate, control or participate in, or be connected as an officer, employee, agent, independent contractor, consultant, member, partner or principal with any other entity or person
engaged in developing, providing, soliciting orders for, selling, distributing or marketing services or products that directly or indirectly compete with those provided by TriVascular2. 

At Will Employment. Your employment with TriVascular2 is “at will”. This means that you may leave TriVascular2 at any time, for any
reason, with or without notice and with or without cause and that TriVascular2 may terminate your employment at any time, for any reason, or no reason, with or without notice and with or without cause. The at-will nature of your employment can only
be changed in a writing signed by you and by a member of the Board of Directors. 
 Arbitration. Any and all disputes related to this offer or
arising out of or related to your employment with TriVascular2 will be submitted to and resolved through final and binding arbitration. The arbitration will be instead of any civil litigation; this means that TriVascular2 and you are each waiving
any right to a jury trial. The arbitrator’s decision shall be final and binding to the fullest extent permitted by law, and will be enforceable by any court having jurisdiction thereof. The disputes subject to arbitration include, but are not
limited to, any claims for breach of contract, discrimination or harassment, or violation of any other federal, state or local law or regulation. Arbitration is to be conducted in Santa Rosa, California, in accordance with the rules and regulations
of the America Arbitration Association (“AAA”) using the National Employment Dispute Resolution Rules, including procedures for discovery sufficient to adequately arbitrate any statutory claims, as determined by the arbitrator. The
arbitration filing fee expenses shall be borne according to 

 TRIVASCULAR 

 

 
the rules of AAA, except that TriVascular2 will pay all types of costs that are unique to arbitration, such as the arbitrator’s fees. Notwithstanding the above, the parties agree that any
claims either party has arising out of any Employee Invention and Confidential Information Agreement or similar agreement you may sign with TriVascular2 are specifically excluded from this arbitration provision. This includes, for example only and
without limitation, claims by TriVascular2 that you have disclosed or misappropriated its trade secrets and/or claims by you that the Employee Invention and Confidential Information Agreement does not preclude you from working for a competitor of
TriVascular2 or that you are the rightful owner of an invention you may develop. 
 Other Terms and Conditions. This offer is contingent upon
your ability to provide appropriate documentation within three (3) days after your start date establishing that you are legally authorized to live and work in the United States. In addition, this offer of employment is contingent upon your
signing of TriVascular2’s standard form of Employee Invention and Confidential Information Agreement and any other documents customarily executed at the time of starting employment, and is further contingent upon TriVascular2’s written
acceptance (in its discretion) of the information you disclose in the Employee Invention and Confidential Information Agreement. You should understand that TriVascular2 is hiring you for your skills and abilities and not for any tangible or
intangible items or proprietary information obtained by you from any of your former employers. By accepting employment with TriVascular2, you agree that you will not, in the performance of your duties at TriVascular2, utilize any or disclose any
trade secrets, confidential, or proprietary information of former employers and that you have neither taken with you any tangible items containing any such information, such as drawings or reports, when you left your prior employer, nor brought such
items into the workplace at TriVascular2. 
 This offer letter, including the attached Founders’ Employee Proprietary Information and Invention
Assignment Agreement, which is a true, complete and correct copy of the agreement that you and the Company signed on March 28, 2008 and which has been effective since March 28, 2008, sets forth the entire agreement between you and
TriVascular2 concerning the terms and conditions of your employment, and neither you nor TriVascular2 will be bound by any condition or understanding with respect to your employment other than that expressly provided in this letter. The offer letter
supersedes and replaces all previous agreements or understandings regarding the terms of your employment and can only be amended in a writing signed by TriVascular2 and you. 

This offer letter documents and confirms in writing the terms of your employment and agreement in place between TriVascular2 and you since March 28,
2008, which is the date on which you began your employment with TriVascular2. As a condition of your continued employment, please indicate your acceptance of and agreement with the terms of this offer by signing in the space indicated below. 

 TRIVASCULAR 

 

	
	Sincerely,
	
	/s/ Robert W. Thomas
	
	Robert W. Thomas
	Member, Boards of Directors
	TV2 Holding Company and TriVascular2, Inc.

 I have read and understand the
foregoing letter and accept employment with TriVascular2 as set forth above. 
  

					
	 /s/ Michael V. Chobotov
	 		 	 10/30/09

	Michael V. Chobotov	 		 	Date

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