Document:

EX-10.1

 Exhibit 10.1 

PERFORMANCE UNIT AWARD AGREEMENT 

RigNet, Inc. 2010 Omnibus Incentive Plan 

This PERFORMANCE UNIT AWARD AGREEMENT (this
“Agreement”) is made by and between RigNet, Inc., a Delaware corporation (the “Company”), and Marty Jimmerson (the “Executive”) effective as of the 1 day of January, 2016 (the
“Grant Date”), pursuant to the RigNet, Inc. 2010 Omnibus Incentive Plan, as amended (the “Plan”), a copy of which previously has been made available to the Executive and the terms and
provisions of which are incorporated by reference herein. 
 WHEREAS, the Company desires to grant to
the Executive the Performance Units specified herein, subject to the terms and conditions of this Agreement; and 

WHEREAS, the Executive desires to have the opportunity to earn the Performance Units and receive any
payment specified herein that is earned in accordance with the terms and conditions of this Agreement; 
 NOW,
THEREFORE, in consideration of the premises, mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto, intending to be legally bound hereby, agree as follows: 
 1. Grant of Performance
Units. Effective as of the Grant Date, the Company has granted to the Executive pursuant to the Plan 24,430 Performance Units (the “Target Units”). In accepting the award of Performance Units
granted in this Agreement the Executive accepts and agrees to be bound by all the terms and conditions of the Plan and this Agreement. The Company shall cause to be delivered to the Executive in electronic or certificated form any shares of Stock
that are to be issued under the terms of this Agreement in exchange for all vested Performance Units awarded hereby, and such shares of Stock shall be transferable by the Executive as provided herein (except to the extent that any proposed transfer
would, in the opinion of counsel satisfactory to the Company, constitute a violation of applicable securities law). The maximum number of shares of Stock that may be paid under this Agreement is 48,860 shares. 

2. Definitions. For purposes of this Agreement, the following terms shall have the meanings indicated below: 

(a) “Addressable Rigs” means the total number of Offshore Drilling Rigs worldwide on
March 31, June 30, September 30 or December 31 of the applicable Performance Period, as reported in the IHS Petrodata RigBase Current Activity Report for such day, excluding from such total each Offshore Drilling Rig
which the IHS Petrodata RigBase classifies, on such date, as: (i) on order, under construction, or otherwise not yet delivered, or “retired” (an Offshore Drilling Rig that is no longer part of the drilling rig fleet),
(ii) “cold stacked” (an Offshore Drilling Rig manned only by a watch crew, with its equipment mothballed and requiring several months to reactivate), (iii) “out of service” (an Offshore Drilling Rig not capable of
re-entering service without a major equipment upgrade/renewal that would take a minimum of 6 to 12 months), (iv) “production” (an Offshore Drilling Rig in temporary production mode), or (v) located in a country that is subject to
economic sanctions by the United States that are administered and enforced by the United States Office of Foreign Assets Control. 

  
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 (b) “Addressable Rigs Served” means the total number of
Offshore Drilling Rigs, on March 31, June 30, September 30 or December 31 of the applicable Performance Period, for which the Company and/or its subsidiaries are the primary providers of communication services, provided, however,
that an Offshore Drilling Rig shall not be included in such total unless, on the applicable date, the Company and/or its subsidiaries are generating recurring revenue of at least $65.75 per day from providing such services. The Company and/or its
subsidiaries will be considered to be the “primary providers of communication services” where such services are provided to the Offshore Drilling Rig owner or manager or the entity drilling the well; the Company and/or its subsidiaries
will not be considered to be the “primary providers of communication services” where such services are provided only to one or more service companies operating on the Offshore Drilling Rig. 

(c) “Addressable Rigs Service Level” means the average of the quotients obtained for
March 31, June 30, September 30 and December 31 of the applicable Performance Period by dividing the Addressable Rigs Served on such date by the Addressable Rigs on such date (which amount is expressed as a
percentage). 
 (d) “Addressable Rigs Service Level Max” means 38% for the Performance Period. 

(e) “Addressable Rigs Service Level Score” means, with respect to a Performance Period: 

(i) if the Addressable Rigs Service Level achieved by the Company and its subsidiaries for such Performance Period is less than
the Addressable Rigs Service Level Threshold for such Performance Period then the Addressable Rigs Service Level Score for such Performance Period is zero (0). 

(ii) if (A) the Addressable Rigs Service Level achieved by the Company and its subsidiaries for such Performance Period is
greater than (B) the Addressable Rigs Service Level Threshold for such Performance Period and less than or equal to Addressable Rigs Service Level Target for such Performance Period then the Addressable Rigs Service Level Score for such
Performance Period is ((A) minus (B)) divided by (Addressable Rigs Service Level Target for such Performance Period minus Addressable Rigs Service Level Threshold for such Performance Period). 

(iii) if (C) the Addressable Rigs Service Level achieved by the Company and its subsidiaries for such Performance Period
is greater than (D) the Addressable Rigs Service Level Target for such Performance Period and less than the Addressable Rigs Service Level Max for such Performance Period then the Addressable Rigs Service Level Score for such Performance Period
is one plus the product of two times ((C) minus (D)) divided by (Addressable Rigs Service Level Max for such Performance Period minus Addressable Rigs Service Level Target for such Performance Period). 

  
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 (iv) if the Addressable Rigs Service Level achieved by the Company and its
subsidiaries for such Performance Period is greater than the Addressable Rigs Service Level Max for such Performance Period then the Addressable Rigs Service Level Score for such Performance Period is 3. 

(f) “Addressable Rigs Service Level Target” means (i) 33% for the Performance Period. 

(g) “Addressable Rigs Service Level Threshold” means (i) 31% for the Performance Period. 

(h) “Cause” means (i) Executive’s plea of guilty or nolo contendre, or conviction of a felony or a
misdemeanor involving moral turpitude; (ii) any act by Executive of fraud or dishonesty with respect to any aspect of the Company’s business including, but not limited to, falsification of Company records; (iii) Executive’s
intentional and continued failure to perform his duties (other than by reason of an illness or a disability); (iv) intentional engagement in misconduct by Executive that is materially injurious to the Company (monetarily or otherwise);
(v) Executive’s disparagement of Company; (vi) commencement by Executive of employment with an unrelated employer; (vii) material breach by the Executive of Executive’s employment agreement or letter, if any, with the
Company or of any nondisclosure, noncompete or non-solicitation agreement applicable to the Executive; (viii) material violation by Executive of any Company written policies, including but not limited to any harassment and/or non-discrimination
policies; or (ix) Executive’s gross negligence in the performance of Executive’s duties causing material harm to Company. 

(i) “Change in Control” means the occurrence of an event or events with respect to the Company that
constitutes or constitute a “change in control event” as that term is defined for purposes of Treasury Regulation §1.409A-3(i)(5) using the default rules set forth therein. 

(j) “Consolidated Revenue Amount” means, for any Performance Period, consolidated gross revenue of the
Company and its subsidiaries for such period. 
 (k) “Consolidated Revenue Max” means (i) $274.9
million for the Performance Period. 
 (l) “Consolidated Revenue Score” means, with respect to a Performance Period:

 (i) if the Consolidated Revenue Amount achieved by the Company and its subsidiaries for such Performance Period is less
than the Consolidated Revenue Threshold for such Performance Period then the Consolidated Revenue Score for such Performance Period is zero (0). 

(ii) if (A) the Consolidated Revenue Amount achieved by the Company and its subsidiaries for such Performance Period is
greater than (B) the Consolidated Revenue Threshold for such Performance Period and less than or equal to Consolidated Revenue Target for such Performance Period then the Consolidated Revenue Score for such Performance Period is ((A) minus (B))
divided by (Consolidated Revenue Target for such Performance Period minus Consolidated Revenue Threshold for such Performance Period). 

  
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 (iii) if (C) the Consolidated Revenue Amount achieved by the Company and its
subsidiaries for such Performance Period is greater than (D) the Consolidated Revenue Target for such Performance Period and less than the Consolidated Revenue Max for such Performance Period then the Consolidated Revenue Score for such
Performance Period is one plus the product of two times ((C) minus (D)) divided by (Consolidated Revenue Max for such Performance Period minus Consolidated Revenue Target for such Performance Period). 

(iv) if the Consolidated Revenue Amount achieved by the Company and its subsidiaries for such Performance Period is greater
than the Consolidated Revenue Max for such Performance Period then the Consolidated Revenue Score for such Performance Period is 3. 
 (m)
“Consolidated Revenue Target” means (i) $239.0 million for the Performance Period. 
 (n)
“Consolidated Revenue Threshold” means (i) $203.2 million for the Performance Period. 
 (o)
“Forfeiture Restrictions” shall mean the prohibitions and restrictions set forth herein with respect to the sale or other disposition of the Performance Units issued to the Executive hereunder and the obligation to forfeit
and surrender such Performance Units to the Company. 
 (p) “Good Reason” means
(i) a material adverse change in Executive’s position, authority, duties or responsibilities, but not a change in reporting relationships, (ii) a reduction in Executive’s base salary or the taking of any action by the Company
that would materially diminish the annual bonus opportunities of Executive from those provided to Executive immediately prior to the Effective Date, (iii) the relocation of the Company’s principal executive offices by more than 50 miles
from where such offices are located on the Date of Grant or Executive being based at any office other than the principal executive offices of the Company, except for travel reasonably required in the performance of Executive’s duties and
reasonably consistent with Executive’s travel prior to the Date of Grant, (iv) a material breach by the Company of the Executive’s employment agreement or Letter, if any, with the Company, or (v) the failure of a successor to the
Company to assume the Employment Agreement. Executive shall provide written notice of any such reduction, failure, change or breach upon which Executive intends to rely as the basis for a Good Reason resignation within 45 days of the occurrence of
such reduction, failure, change or breach. The Company shall have 45 days following the receipt of such notice to remedy the condition constituting such reduction, change or breach and, if so remedied, any termination of Executive’s employment
hereunder on the basis of the circumstances described in such notice shall not be considered a Good Reason resignation. If the Company does not remedy the condition that has been the subject of a notice as described in this paragraph within 45 days
of the Company’s receipt of such notice, Executive must terminate his employment within 120 days following the occurrence of such condition in order for such termination to be considered for Good Reason for purposes of this Agreement.

  
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 (q) “IHS Petrodata RigBase” means that database, available
from IHS, Inc., which provides information on the status of the global offshore drilling rig fleet, or its successor or, if the IHS Petrodata RigBase is discontinued, a comparable database that the Committee determines is an appropriate
replacement. 
 (r) “IHS Petrodata RigBase Current Activity Report” means the current
activity report produced from a current activity search of the IHS Petrodata RigBase. 
 (s) “Maritime
Initiative” means the operations of the Company and its subsidiaries providing services to customers whose business is primarily maritime activities, including services and equipment provided to maritime vessels, including but not
limited to,  
 (i) Dry/Cargo Passenger Vessels, General Cargo Ship, Container Ship, Passenger Ship, Passenger/Ro-Ro Cargo
Ship, Landing Craft, Refrigerated Cargo Ship, Vehicles Carrier, Ro-Ro Cargo Ship, Passenger (Cruise) Ship, Deck Cargo Ship, Passenger/General Cargo Ship, Heavy Load Carrier, Livestock Carrier, Passenger/Landing Craft, Palletised Cargo Ship, Nuclear
Fuel Carrier, Container/Ro-Ro Cargo Ship, Barge Carrier, Passenger/Container Cargo Ship, Pulp Carrier); 
 (ii) Miscellaneous Vessels
(+24,000 including Tug, Research Vessel, Patrol Vessel, Pusher Tug, Hopper Dredger, Dredger, Utility Vessel, Bunkering Tanker, Motor Hopper, Pollution Control Vessel, Crane Ship, Buoy/Lighthouse Vessel, Pilot Vessel, Crew Boat, Work/Repair Vessel,
Training Ship, Search & Rescue Vessel, Fire Fighting Vessel, Waste Disposal Vessel, Supply Tender, Salvage Ship, Cable Layer, Icebreaker, Mooring Vessel, Vessel (function unknown), Anchor Hoy, Trans Shipment Vessel, Hospital Vessel, Leisure
Vessel, Mining Vessel, Power Station Vessel, Tank Cleaning Vessel, Dry Storage, Sailing Vessel, Log Tipping Ship; 
 (iii) Tankers (+16,000
including Oil Products Tanker, Chemical/Oil Products Tanker, Crude Oil Tanker, LPG Tanker, Chemical Tanker, LNG Tanker, Bitumen Tanker, Water Tanker, Vegetable Oil Tanker, Edible Oil Tanker, Wine Tanker, Fruit Juice Tanker, CO2 Tanker, Molasses
Tanker, Alcohol Tanker, Caprolactam Tanker, Latex Tanker, Coal/Oil Mixture Tanker, Beer Tanker, Glue Tanker); 

  
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 (iv) Bulk Carriers (+12,000 including Bulk Dry Carrier, Aggregates Carrier, Cement Carrier, Ore
Carrier, Self Discharging Bulk Dry Carrier, Wood Chips Carrier, Ore/Oil Carrier, Limestone Carrier, Bulk/Oil Carrier, Bulk/Liquid Carrier, Urea Carrier, Powder Carrier, Refined Sugar Carrier); 

(v) Offshore Vessels (+9,000 including Platform Supply Vessel, Offshore Tug/Supply Ship, Offshore Support Vessel, Pipe Layer, Production
Testing Vessel, Well Stimulation Vessel, Standby Safety Vessel, FSO, Trenching Support Vessel, Pip Burying Vessel); 
 (vi) Non-Merchant
Ships (+2,000 including Yachts, Naval/Naval Auxiliary, Sail Training Ship, Other Non-Merchant Ships); 
 Fishing (+22,000 including Fishing
Vessel, Trawler, Fish Carrier, Fishing Support Vessel, Live Fish Carrier, Fish Factory Ship, Seal Catcher, Whale Catcher, Pearl Shells Carrier, Kelp Dredger); 

Inland Waterway Vessels (+700 including Inland Waterways Tanker, Inland Waterways Dry Cargo/Passenger, Inland Waterways Other Non-Seagoing;

 But expressly excluding any drilling rig, well or mine site, jack-up, semi submersible, platform, drill ship and FPSO’s 

(t) “Maritime Initiative and Reseller Initiative Revenue Amount” means, for any Performance Period, the
consolidated gross revenues of the Company and its subsidiaries for such period from the Maritime Initiative and Reseller Initiative. 

(u) “Maritime Initiative and Reseller Initiative Revenue Max” means (i) $20.5 million for the Performance Period.

 (v) “Maritime Initiative and Reseller Initiative Revenue Score” means, with respect to a Performance Period: 

(i) if the Maritime Initiative and Reseller Initiative Revenue Amount achieved by the Company and its subsidiaries for such
Performance Period is less than the Maritime Initiative and Reseller Initiative Revenue Threshold for such Performance Period then the Maritime Initiative and Reseller Initiative Revenue Score for such Performance Period is zero (0). 

(ii) if (A) the Maritime Initiative and Reseller Initiative Revenue Amount achieved by the Company and its subsidiaries
for such Performance Period is greater than (B) the Maritime Initiative and Reseller Initiative Revenue Threshold for such Performance Period and less than or equal to Maritime Initiative and Reseller Initiative Revenue Target for such
Performance Period then the Maritime Initiative and Reseller Initiative Revenue Score for such Performance Period is ((A) minus (B)) divided by (Maritime Initiative and Reseller Initiative Revenue Target for such Performance Period minus Maritime
Initiative and Reseller Initiative Revenue Threshold for such Performance Period). 

  
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 (iii) if (C) the Maritime Initiative and Reseller Initiative Revenue Amount
achieved by the Company and its subsidiaries for such Performance Period is greater than (D) the Maritime Initiative and Reseller Initiative Revenue Target for such Performance Period and less than the Maritime Initiative and Reseller
Initiative Revenue Max for such Performance Period then the Maritime Initiative and Reseller Initiative Revenue Score for such Performance Period is one plus the product of two times ((C) minus (D)) divided by (Maritime Initiative and Reseller
Initiative Revenue Max for such Performance Period minus Maritime Initiative and Reseller Initiative Revenue Target for such Performance Period). 

(iv) if the Maritime Initiative and Reseller Initiative Revenue Amount achieved by the Company and its subsidiaries for such
Performance Period is greater than the Maritime Initiative and Reseller Initiative Revenue Max for such Performance Period then the Maritime Initiative and Reseller Initiative Revenue Score for such Performance Period is 3. 

(w) “Maritime Initiative and Reseller Initiative Revenue Target” means (i) $16.5 million for the Performance
Period. 
 (x) “Maritime Initiative and Reseller Initiative Revenue Threshold” means (i) $12.5 million for the
Performance Period. 
 (y) “Offshore Drilling Rig” means a mobile offshore drilling unit or similar
equipment used to drill a wellbore in an offshore marine environment including, without limitation, a bottom-supported unit, such as a jack-up rig, and a floating unit, such as a semisubmersible or a drillship, and which the IHS Petrodata RigBase
indicates has been constructed and delivered and is part of the active drilling fleet included in the IHS Petrodata RigBase. 

(z) “Payment Date” means the earlier of (i) July 1, 2017, (ii) the date that is six
(6) months after the effective date of the termination of Executive’s employment with the Company and its subsidiaries during the Performance Award Period, which termination during the Performance Award Period constitutes a Separation From
Service, and after the date of the occurrence of a Change in Control, (iii) the 30th business day immediately following the date of death of the Executive, (iv) the date that is six
(6) months after the date of the Executive’s Retirement or (v) the date of the Executive’s Disability (as that term is defined in Section 2.15(b) of the Plan). 

(aa) “PE Factor” means, for an applicable Performance Period, the sum of the (i) Weighted
Addressable Rigs Service Level Score, (ii) Weighted Consolidated Revenue Score, and (iii) Weighted Maritime Initiative and Reseller Initiative Revenue Score. 

(bb) “Performance Award Period” means the one (1) year period that begins on the first day of the
Performance Period and ends on the last day of the Performance Period. 

  
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 (cc) “Performance Period” means a calendar year or longer
designated period during an applicable Performance Award Period. The Performance Periods for this Agreement begins on January 1, 2016, and ends on December 31, 2016. 

(dd) “Reseller Initiative” means third-party resellers and distributors of the goods and services of the
Company and its subsidiaries. 
 (ee) “Separation From Service” means a “separation
from service” as that term is defined for purposes of Section 409A of the Code and Final Department of Treasury Regulations issued thereunder. 

(ff) “Weighted Addressable Rigs Service Level Score” means, with respect to a Performance Period, the
Addressable Rigs Service Level Score achieved for such Performance Period multiplied by thirty percent (30%). 

(gg) “Weighted Consolidated Revenue Score” means, with respect to a Performance Period, the Consolidated
Revenue Score achieved for such Performance Period multiplied by forty percent (40%). 
 (hh)
“Weighted Maritime Initiative and Reseller Initiative Revenue Score” means, with respect to a Performance Period, the amount of the Maritime Initiative and Channel Initiative Revenue Score achieved for such Performance Period
multiplied by thirty percent (30%). 
 Capitalized terms not otherwise defined in this Agreement shall have the meanings given
to such terms in the Plan. 
 3. Performance Units Do Not Award Any Rights Of A Shareholder. The Executive shall
not have the voting rights or any of the other rights, powers or privileges of a holder of Stock with respect to the Performance Units that are awarded hereby. Only after a share of Stock is issued in exchange for a Performance Unit will the
Executive have all of the rights of a shareholder with respect to such share of Stock issued in exchange for a Performance Unit. 

4. Transfer Restrictions. The Performance Units granted hereby may not be sold, assigned,
pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of (other than by will or the applicable laws of descent and distribution). Any such attempted sale, assignment, pledge, exchange, hypothecation, transfer, encumbrance
or disposition in violation of this Agreement shall be void and the Company shall not be bound thereby. Further, any shares of Stock issued to the Executive in exchange for Performance Units awarded hereby may not be sold or otherwise disposed of in
any manner that would constitute a violation of any applicable securities laws. The Executive also agrees that the Company may (a) refuse to cause the transfer of any such shares of Stock to be registered on the applicable stock transfer
records of the Company if such proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of any applicable securities law and (b) give related instructions to the transfer agent, if any, to stop
registration of the transfer of such shares of Stock. The shares of Stock that may be issued under the Plan are registered with the Securities and Exchange Commission under a Registration Statement on Form S-8. A Prospectus describing the Plan and
the Stock is available from the Company. 

  
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 5. Vesting and Payment.  

(a) The Performance Units that are granted hereby shall be subject to the Forfeiture Restrictions. The Executive shall have no vested interest
in the Performance Units credited to his or her bookkeeping ledger account except as set forth in this Section 5. On the Payment Date, and after satisfaction of the Executive’s tax withholding obligations described in
Section 7, the Company shall issue to the Executive or, in the case of the death of the Executive, to the duly appointed executor or administrator of the Executive’s estate, that number of shares of Stock, if any, calculated
pursuant to Section 5(b) through 5(c) below, as applicable, in exchange for the Performance Units that vested as a result of the lapse of the applicable Forfeiture Restrictions as described below and thereafter the Executive shall
have no further rights with respect to such vested Performance Units. The Executive acknowledges and agrees that all payments made under this Agreement are subject to the provisions of Section 18. 

(b) Except as otherwise provided in this Section 5(b) with respect to a Change in Control or in Section 5(c), if the
Executive’s employment with the Company and its subsidiaries has not terminated prior to January 1, 2017, then the Forfeiture Restrictions shall lapse with respect to that number of Target Units (up to, but not in excess of 100% of the
Target Units) and the Executive will be entitled to receive, on the Payment Date, with respect to the vested Target Units that number of shares of Stock equal to: 

(A) multiplied by (B) 
 where “(A)” is
the number of Target Units and “(B)” is the PE Factor for the Performance Period, and the remainder, if any, of the Target Units shall be forfeited to the Company as of the close of business on the last day of Performance Period.
Notwithstanding the preceding provisions of this Section 5(b) and in lieu thereof, if a Change in Control occurs during the Performance Period, then the Executive shall be entitled to receive, on the Payment Date, that number of shares
of Stock equal to the product of (i) the number of Target Units multiplied by (ii) the quotient of the number of days during the Performance Period worked by the Executive divided by the number of days during the Performance Period;
provided, however, if the amount calculated under the preceding provision would result in a payment to the Executive of a number of shares of Stock less than the number of Target Units the Executive shall be entitled to receive, on the Payment Date,
that number of shares of Stock equal to the number of Target Units. 
 (c) Subject to Sections 5(b), relating to certain
terminations after a Change in Control, if the Executive’s employment is terminated (i) by the Company and all of its subsidiaries for any reason other than for Cause or (ii) by the Executive for Good Reason, in any such case
specified in (i) or (ii), before the end of the Performance Award Period, then in addition to any shares of Stock that have vested during full Performance Periods that ended prior to such termination in accordance with Sections 5(b)
for the Performance Period during which the Executive’s employment is so terminated the Executive shall be entitled to receive on the Payment Date a pro-rata number of shares of Stock, calculated in accordance with the provision of this
Section 5 applicable to such Performance Period and pro-rated based on the number of 

  
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days the Executive was employed during such Performance Period compared to the total number of days in such Performance Period, and (iv) by death or Disability, then the Executive shall be
entitled to receive on the Payment Date, the number of shares of Stock that vested pursuant to Sections 5(b) during full Performance Periods that ended prior to the death or Disability or. 

6. Capital Adjustments and Reorganizations; Acquisitions and Divestitures. The existence of
the Performance Units shall not affect in any way the right or power of the Company or any company the stock of which is awarded pursuant to this Agreement to make or authorize any adjustment, recapitalization, reorganization or other change in its
capital structure or its business, engage in any merger or consolidation, issue any debt or equity securities, dissolve or liquidate, or sell, lease, exchange or otherwise dispose of all or any part of its assets or business, or engage in any other
corporate act or proceeding. If, during the Performance Award Period, the Company or any of its subsidiaries acquire or dispose of, by any means including by asset or equity purchase or sale or by merger, any entity, business or material group of
assets, the Committee shall revise the threshold, target and maximum for the Performance Period of such acquisition or disposition and all subsequent Performance Periods as allowed by Section 162(m) and the Committee determines is necessary to
properly adjust such amounts to reflect the results of such transaction. 
 7. Tax
Withholding. To the extent that the receipt of the Performance Units, any payment in cash or shares of Stock or the lapse of any Forfeiture Restrictions results in income to the Executive for federal, state or local
income, employment or other tax purposes with respect to which the Company or any Affiliate has a withholding obligation, the Executive shall deliver to the Company at the time of such receipt, payment or lapse, as the case may be, such amount of
money as the Company or any Affiliate may require to meet its obligation under applicable tax laws or regulations, and, if the Executive fails to do so, the Company is authorized to withhold from the shares of Stock issued in exchange for the
Performance Units, any payment in cash or shares of Stock under this Agreement or from any cash or stock remuneration then or thereafter payable to the Executive in any capacity any tax required to be withheld by reason of such resulting income,
including (without limitation) shares of Stock sufficient to satisfy the withholding obligation based on the Fair Market Value of the Stock on the date that the withholding obligation arises. 

8. Nontransferability. This Agreement is not transferable by the Executive otherwise than by
will or by the laws of descent and distribution. 
 9. Employment
Relationship. For purposes of this Agreement, the Executive shall be considered to be in the employment of the Company and its Affiliates as long as the Executive has an employment relationship with the Company and its
Affiliates. The Committee shall determine any questions as to whether and when there has been a termination of such employment relationship, and the cause of such termination, under the Plan and the Committee’s determination shall be final and
binding on all persons. 
 10. Not an Employment Agreement. This Agreement is
not an employment agreement, and no provision of this Agreement shall be construed or interpreted to create an employment relationship between the Executive and the Company or any Affiliate, to guarantee the right to remain employed by the Company
or any Affiliate for any specified term or require the Company or any Affiliate to employ the Executive for any period of time. 

  
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 11. Legend. The Executive consents to the placing on the certificate
for any shares of Stock issued under this Agreement in certificated form an appropriate legend restricting resale or other transfer of such shares except in accordance with the Securities Act of 1933 and all applicable rules thereunder.

 12. Notices. Any notice, instruction, authorization, request or demand required
hereunder shall be in writing, and shall be delivered either by personal delivery, by telegram, telex, telecopy or similar facsimile means, by certified or registered mail, return receipt requested, or by courier or delivery service, addressed to
the Company at the then current address of the Company’s Principal Corporate Office, and to the Executive at the Executive’s residential address indicated beneath the Executive’s signature on the execution page of this Agreement, or
at such other address and number as a party shall have previously designated by written notice given to the other party in the manner hereinabove set forth. Notices shall be deemed given when received, if sent by facsimile means (confirmation of
such receipt by confirmed facsimile transmission being deemed receipt of communications sent by facsimile means); and when delivered (or upon the date of attempted delivery where delivery is refused), if hand-delivered, sent by express courier or
delivery service, or sent by certified or registered mail, return receipt requested. 
 13. Amendment and
Waiver. Except as otherwise provided herein or in the Plan or as necessary to implement the provisions of the Plan, this Agreement may be amended, modified or superseded only by written instrument executed by the Company
and the Executive. Only a written instrument executed and delivered by the party waiving compliance hereof shall make any waiver of the terms or conditions. Any waiver granted by the Company shall be effective only if executed and delivered by a
duly authorized executive officer of the Company other than the Executive. The failure of any party at any time or times to require performance of any provisions hereof shall in no manner effect the right to enforce the same. No waiver by any party
of any term or condition, or the breach of any term or condition contained in this Agreement, in one or more instances, shall be construed as a continuing waiver of any such condition or breach, a waiver of any other condition, or the breach of any
other term or condition. 
 14. Arbitration. In the event of any difference of opinion
concerning the meaning or effect of the Plan or this Agreement, such difference shall be resolved by the Committee. Any controversy arising out of or relating to the Plan or this Agreement shall be resolved by arbitration conducted in accordance
with the terms of the Plan. The arbitration shall be final and binding on the parties. 
 15. Governing Law and
Severability. The validity, construction and performance of this Agreement shall be governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer
construction or interpretation of this Agreement to the substantive law of another jurisdiction. The invalidity of any provision of this Agreement shall not affect any other provision of this Agreement, which shall remain in full force and
effect. 

  
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 16. Successors and Assigns. Subject to the
limitations which this Agreement imposes upon the transferability of the Performance Units granted hereby and any shares of Stock issued hereunder, this Agreement shall bind, be enforceable by and inure to the benefit of the Company and its
successors and assigns, and to the Executive, the Executive’s permitted assigns, executors, administrators, agents, legal and personal representatives. 

17. Counterparts. This Agreement may be executed in two or more counterparts, each of which
shall be an original for all purposes but all of which taken together shall constitute but one and the same instrument. 

18. Recovery of Performance Unit Payments. The Executive acknowledges and agrees that all payments made under this
Agreement are subject to the Company’s clawback policy, as it may be amended from time to time (the “Clawback Policy”). If at any time after an amount is paid under this Agreement the financial results of the Company
and/or its subsidiaries are restated (other than a restatement caused by a change in applicable accounting rules or interpretations) and such restated financial results would have resulted in fewer shares of Stock being paid under
Section 5 if such restated financial results had been taken into account originally in determining the vesting of the Performance Units then the vesting of the Performance Units shall be recalculated under the applicable provisions of
Section 5 taking into account such restated financial results and the Executive or, if the Executive has died, the Executive’s estate, will, to the extent required by governing law or regulations, as they may be amended from time to
time, and/or the Clawback Policy, repay to the Company, upon demand by the Company, any shares of Stock delivered under this Agreement in excess of the number of shares of Stock that would have been delivered if the restated financial results had
been taken into account originally in determining the vesting of the Performance Units. 
 19. Compliance
With Section 409A. This Agreement is subject to, and intended to comply with the requirements of, Section 409A of the Code and the regulations, guidance, and other interpretative authority issued thereunder
(“Section 409A”). This Agreement shall be administered in a manner that is intended to meet those requirements and shall be construed and interpreted in accordance with such intent. 

20. Compliance With Section 162(m). This Agreement is intended to comply with the requirements of
Section 162(m) of the Code and the regulations, guidance, and other interpretative authority issued thereunder (“Section 162(m)”). This Agreement shall be administered in a manner that is intended to meet those
requirements and shall be construed and interpreted in accordance with such intent.  

  
 - 12 - 

 IN WITNESS WHEREOF, the
Company has caused this Agreement to be duly executed by an officer thereunto duly authorized, and the Executive has executed this Agreement, all effective as of the date first above written. 

 

			
	RIGNET, INC.
		
	 By:
	 	/s/ William Sutton
	 Name:
	 	William Sutton
	Title:	 	SVP

  

			
	 EXECUTIVE:

	
	 /s/ Marty Jimmerson

	Name:	 	Marty Jimmerson
		
	Address:	 	1880 S. Dairy Ashford
		 	Suite 300
		 	Houston, TX 77077-4760EX-10.2

 Exhibit 10.2 

CONSENT AND FOURTH AMENDMENT TO 

AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

This CONSENT AND FOURTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered
into as of April 19, 2016, by and among OXFORD FINANCE LLC, a Delaware limited liability company with an office located at 133 North Fairfax Street, Alexandria, Virginia 22314 (“Oxford”), as collateral agent (in such capacity,
the “Collateral Agent”), the Lenders listed on Schedule 1.1 of the Loan Agreement (as defined below) or otherwise a party thereto from time to time including Oxford in its capacity as a Lender and SILICON VALLEY BANK, a
California corporation with an office located at 3005 Carrington Mill Boulevard, Suite 530, Morrisville, North Carolina 27560 (each a “Lender” and collectively, the “Lenders”), and TRANSENTERIX, INC., a Delaware
corporation (“Parent”), TRANSENTERIX SURGICAL, INC., a Delaware corporation (“TransEnterix Surgical”), SAFESTITCH LLC, a Virginia limited liability company (“SafeStitch”, and together with Parent
and TransEnterix Surgical, “Existing Borrowers”), and TRANSENTERIX INTERNATIONAL, INC., a Delaware corporation (“TransEnterix International”, and together with Existing Borrowers, individually and collectively,
jointly and severally, “Borrower”), each with offices located at 635 Davis Drive, Suite 300, Morrisville, North Carolina 27560. 

RECITALS 

A. Collateral Agent, Lenders and Existing Borrowers have entered into that certain Amended and Restated Loan and Security Agreement
dated as of September 26, 2014 (as amended from time to time, including but without limitation by that certain First Amendment to Amended and Restated Loan and Security Agreement dated as of August 14, 2015, that certain Consent and Second
Amendment to Amended and Restated Loan and Security Agreement dated as of September 18, 2015 and that certain Third Amendment to Amended and Restated Loan and Security Agreement dated as of November 13, 2015, the “Loan
Agreement”). 
 B. Lenders have extended credit to Existing Borrowers for the purposes permitted in the Loan Agreement. 

C. Existing Borrowers and Lenders desire to amend the Loan Agreement to (i) add TransEnterix International as a
“Borrower” under the Loan Agreement and (ii) make certain other revisions as more fully set forth below. 
 D.
TransEnterix International has created a Subsidiary, TransEnterix Europe S.Á.R.L., a company formed under the laws of Luxembourg (“TransEnterix Europe”). 

E. Borrower has requested that Collateral Agent and Lenders consent to (i) Borrower’s formation of TransEnterix Europe and
Borrower not causing TransEnterix Europe to (a) become a co-borrower or guarantee the Obligations of Borrower under the Loan Documents or (b) grant a continuing lien or security interest in its assets and (ii) the TransEnterix Europe
Assignment (as defined below). 
 F. Collateral Agent and Lenders have agreed to such consents and to amend certain provisions of the
Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 

AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

1. Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

  
 1 

 2. Joinder. 

2.1 New Borrower. TransEnterix International hereby is added as a “Borrower” under the Loan Agreement. All references
in the Agreement to “Borrower” shall hereafter mean and include the Existing Borrowers and TransEnterix International individually and collectively, jointly and severally; and TransEnterix International shall hereafter have all rights,
duties and obligations of “Borrower” thereunder. 
 2.2 Joinder to Loan Agreement. TransEnterix International hereby joins
the Loan Agreement and each of the Loan Documents, and agrees to comply with and be bound by all of the terms, conditions and covenants of the Loan Agreement and Loan Documents, as if it were originally named a “Borrower” therein. Without
limiting the generality of the preceding sentence, TransEnterix International agrees that it will be jointly and severally liable, together with Existing Borrowers, for the payment and performance of all obligations and liabilities of Borrower under
the Loan Agreement, including, without limitation, the Obligations. Any Borrower may, acting singly, request Credit Extensions pursuant to the Loan Agreement. Each Borrower hereby appoints the others as agent for all purposes hereunder, including
with respect to requesting Credit Extensions pursuant to the Loan Agreement. Each Borrower hereunder shall be obligated to repay all Credit Extensions made pursuant to the Loan Agreement, regardless of which Borrower actually receives said Credit
Extension, as if each Borrower hereunder directly received all Credit Extensions. 
 2.3 Subrogation and Similar Rights. Each
Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person;
(ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and any Lender may each exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right
to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Amendment, the Loan Agreement, the Loan Documents or any related documents, until the Obligations have been
indefeasibly paid in full and at such time as each Lender’s obligation to make Credit Extensions has terminated, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law
subrogating Borrower to the rights of Collateral Agent and/or Lenders under this Amendment and the Loan Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter
primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Amendment, the Loan Agreement or otherwise and all rights that it might have to benefit from, or to
participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this Amendment, the Loan Agreement or otherwise. Any agreement providing for indemnification,
reimbursement or any other arrangement prohibited under this section shall be null and void. If any payment is made to a Borrower in contravention of this section, such Borrower shall hold such payment in trust for Collateral Agent, for the ratable
benefit of Lenders, and such payment shall be promptly delivered to Collateral Agent, for the ratable benefit of Lenders, for application to the Obligations, whether matured or unmatured. 

2.4 Grant of Security Interest. To secure the prompt payment and performance of all of the Obligations, TransEnterix
International hereby grants to Collateral Agent, for the ratable benefit of Lenders, a continuing lien upon and security interest in all of TransEnterix International’s now existing or hereafter arising rights and interest in the Collateral,
whether now owned or existing or hereafter created, acquired, or arising, and wherever located. TransEnterix International further covenants and agrees that by its execution hereof it shall provide all such information, complete all such forms, and
take all such actions, and enter into all such agreements, in form and substance reasonably satisfactory to Collateral Agent and each Lender that are reasonably deemed necessary by Collateral Agent or any Lender in order to grant a valid, perfected
first priority security interest to Collateral Agent, for the ratable benefit of Lenders, in the Collateral. TransEnterix International hereby authorizes Collateral Agent to file financing statements, without notice to Borrower, with all appropriate
jurisdictions in order to perfect or protect Collateral Agent’s and/or any Lender’s interest or rights hereunder, including a notice that any disposition of the Collateral, by any Borrower or any other Person, shall be deemed to violate
the rights of Collateral Agent and each Lender under the Code. 

  
 2 

 2.5 Representations and Warranties. TransEnterix International hereby represents and
warrants to Collateral Agent and each Lender that all representations and warranties in the Loan Documents made on the part of Existing Borrowers are true and correct on the date hereof with respect to Existing Borrowers and TransEnterix
International, with the same force and effect as if TransEnterix International were named as “Borrower” in the Loan Documents in addition to Existing Borrowers. 

3. Amendments to Loan Agreement. 

3.1 Section 6.6 (Operating Accounts). Section 6.6 of the Loan Agreement is amended by adding a new subsection 6.6(d),
reading in full as follows: 
 “(d) Notwithstanding the foregoing provisions of this Section 6.6, TransEnterix
Europe and Vulcanos may maintain Collateral Accounts with Persons who are not Silicon Valley Bank (or its Affiliates) and outside of the United States, and TransEnterix Europe and Vulcanos shall not be required to deliver a Control Agreement or
other instrument granting Collateral Agent a lien in or control over of any Collateral Account maintained by such Subsidiary.” 

3.2 Section 7.12 (TransEnterix International). Section 7.12 of the Loan Agreement is amended and restated as follows:

 “7.12 TransEnterix International. TransEnterix International will not incur or permit to exist any
Indebtedness nor grant or permit to exist any Liens upon any of its properties or assets, other than the SOFAR Lien and Liens permitted pursuant to that certain Share Pledge Agreement by and between TransEnterix International, TransEnterix Europe,
and Collateral Agent, dated as of April 19, 2016, nor engage in any operations, business or activity other than (i) owning, directly or indirectly, at all times exactly one hundred percent (100%) of the issued and outstanding capital
stock, membership units or other securities of TransEnterix Europe and Vulcanos, and (ii) performing administrative, governance and supervisory functions in connection with the operation of the business of its Subsidiaries, including making
Investments in TransEnterix Europe and Vulcanos as contemplated by clause (f) of the definition of Permitted Investments.” 

3.3 Section 7.13 (TransEnterix International/TransEnterix Europe/Vulcanos Assets). Section 7.13 of the Loan Agreement
is amended and restated as follows: 
 “7.13 TransEnterix International/TransEnterix Europe/Vulcanos Assets.
Permit the aggregate value of cash maintained by TransEnterix International, TransEnterix Europe, and Vulcanos to exceed One Million Dollars ($1,000,000.00) at any time.” 

3.4 Section 13.1 (Definitions). The following definitions are hereby amended and restated in or added to Section 13.1
of the Loan Agreement as follows: 
 “Existing Borrower” means each of TransEnterix, Inc., a Delaware
corporation, TransEnterix Surgical, Inc., a Delaware corporation, and SafeStitch LLC, a Virginia limited liability company. 

“Shares” is one hundred percent (100%) of the issued and outstanding capital stock, membership units or
other securities owned or held of record by Borrower or Borrower’s Subsidiary, in any Subsidiary; provided, however, (i) with respect to TransEnterix Europe, “Shares” shall mean only sixty five percent (65%) of the
issued and outstanding capital stock, membership units or other securities owned or held of record in TransEnterix Europe and (ii) “Shares” shall not include any of the issued and outstanding capital stock, membership units or
other securities of Vulcanos. 

  
 3 

 SOFAR Lien” means that certain lien on ten percent (10%) of the
ownership interest of Vulcanos in accordance with the terms of that certain Quota Pledge Agreement by and between TransEnterix International and SOFAR, S.p.A., an Italian societa’ per azioni having its registered office in Milan, Italy
(“SOFAR”) dated as of September 18, 2015 and pursuant to the terms of the Acquisition Agreement, or any successor lien on ten percent (10%) of the ownership interest of Vulcanos granted by TransEnterix Europe to SOFAR in
connection with the TransEnterix Europe Assignment. 
 “TransEnterix Europe” means TransEnterix Europe
S.Á.R.L. a company formed under the laws of Luxembourg. 
 “TransEnterix Europe Assignment” means
TransEnterix International assigning, contributing or otherwise conveying all of its ownership interests in Vulcanos to TransEnterix Europe pursuant to documents in form and substance reasonably satisfactory to Collateral Agent and Lenders such that
after giving effect to such transaction, Vulcanos is a wholly-owned Subsidiary of TransEnterix Europe. 
 3.5 Section 13.1
(Definitions). A new clause (m) is hereby added to the definition of “Permitted Indebtedness” in Section 13.1 of the Loan Agreement as follows: 

“(m) TransEnterix, Inc.’s Indebtedness to Fondo Pegasus pursuant to that certain guaranty by TransEnterix, Inc. in
favor of Fondo Pegasus, in form and substance satisfactory to Collateral Agent and Lenders, in an aggregate amount up to the lesser of (i) Two Hundred Sixty Thousand Euros (€260,000.00), plus VAT, per year and (ii) the aggregate
outstanding amount owning by Vulcanos to Fondo Pegasus pursuant to that certain Property Lease Agreement between Fondo Pegasus and Vulcanos, in form and substance satisfactory to Collateral Agent and Lenders.” 

3.6 Section 13.1 (Definitions). Clause (f) of the definition of “Permitted Investments” in
Section 13.1 of the Loan Agreement is hereby amended and restated as follows: 
 “(f) Investments by (i) a
Borrower in an Existing Borrower, (ii) by a Borrower in Subsidiaries not an Existing Borrower not to exceed Fifty Thousand Dollars ($50,000.00) in the aggregate in any fiscal year, provided that Borrower may make Investments in TransEnterix
Europe and Vulcanos (directly or indirectly through TransEnterix International) up to Three Million Dollars ($3,000,000.00) in the aggregate in any fiscal quarter, and (iii) by Subsidiaries not a Borrower in an Existing Borrower.” 

3.7 Exhibit A to the Loan Agreement is replaced with Exhibit A attached hereto. 

3.8 Exhibit C to the Loan Agreement is replaced with Exhibit C attached hereto. 

3.9 Exhibit D to the Loan Agreement is replaced with Exhibit D attached hereto. 

4. Consent. Collateral Agent and Lenders hereby consent to (i) Borrower’s creation of TransEnterix Europe and Borrower
not causing TransEnterix Europe to (a) become a co-borrower or guarantee the Obligations of Borrower under the Loan Documents or (b) grant a continuing lien or security interest in its assets, provided that Borrower is otherwise in full
compliance with Section 6.12 of the Loan Agreement, and (ii) the TransEnterix Europe Assignment. 
 5. Limitation of
Amendment. 
 5.1 The amendments and consent set forth in Sections 3 through 4 above are effective for the purposes set
forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy
which Collateral Agent or any Lender may now have or may have in the future under or in connection with any Loan Document. 

  
 4 

 5.2 This Amendment shall be construed in connection with and as part of the Loan Documents
and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 

6. Representations and Warranties. To induce Collateral Agent and Lenders to enter into this Amendment, Borrower hereby
represents and warrants to Collateral Agent and Lenders as follows: 
 6.1 Immediately after giving effect to this Amendment
(a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which
case they are true and correct in all material respects as of such date), and (b) no Event of Default has occurred and is continuing; 

6.2 Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement,
as amended by this Amendment; 
 6.3 The organizational documents of Borrower delivered to Collateral Agent and Lenders on the First
Amendment Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

6.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized; 
 6.5 The execution and delivery by Borrower of this Amendment
and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a
Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

6.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except as already has been obtained or made; and 
 6.7 This Amendment has been duly executed and
delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other
similar laws of general application and equitable principles relating to or affecting creditors’ rights. 
 7.
Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 

8. Effectiveness. This Amendment shall be deemed effective upon the due execution and delivery to Collateral Agent and Lenders,
in form and substance satisfactory to Collateral Agent and each Lender, such documents, and completion of such other matters, as Collateral Agent and each Lender may reasonably deem necessary or appropriate, including, without limitation: 

 

	 	(a)	this Amendment by each party hereto; 

  

	 	(b)	the Operating Documents of TransEnterix International and good standing certificates of TransEnterix International certified by the Secretary of State of TransEnterix International’s state of organization and each
state in which TransEnterix International is qualified to conduct business, each good standing certificate to be dated no earlier than thirty (30) days prior to the date of this Amendment; 

  
 5 

	 	(c)	certified copies, dated as of a recent date, of financing statement searches, as Collateral Agent shall request, accompanied by such written evidence (including any UCC termination statements) as Collateral Agent
requests that the Liens indicated in any such financing statements either constitute Permitted Liens or have been terminated or released; 

  

	 	(d)	Corporate Borrowing Certificate from TransEnterix International; 

  

	 	(e)	amended and restated Secured Promissory Notes; 

  

	 	(f)	the Luxembourg share pledge agreement and any other documents and the completion of such other matters in connection therewith; 

  

	 	(g)	completed Perfection Certificate for each of Parent, TransEnterix International, and TransEnterix Europe; 

  

	 	(h)	evidence that the insurance policies required by Section 6.5 of the Loan Agreement are in full force and effect, together with appropriate evidence showing loss payable and/or additional insured clauses or
endorsements in favor of Collateral Agent, for the ratable benefit of the Lenders; and 

  

	 	(i)	Borrower’s payment of all Lenders’ Expenses incurred through the date of this Amendment. 

[Balance of Page Intentionally Left Blank] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be duly executed and delivered as of the date first written above. 
  

			
	BORROWER:
	
	TRANSENTERIX, INC.
		
	By	 	 /s/ Joseph P. Slattery

	Name:	 	Joseph P. Slattery
	Title:	 	Executive Vice President
	
	TRANSENTERIX SURGICAL, INC.
		
	By	 	 /s/ Janet Jamiolkowski

	Name:	 	Janet Jamiolkowski
	Title:	 	Vice President, Finance
	
	SAFESTITCH LLC
	By:	 	TransEnterix, Inc., its sole member
		
	By	 	 /s/ Joseph P. Slattery

	Name:	 	Joseph P. Slattery
	Title:	 	Executive Vice President
	
	TRANSENTERIX INTERNATIONAL, INC.
		
	By	 	 /s/ Joseph P. Slattery

	Name:	 	Joseph P. Slattery
	Title:	 	Executive Vice President

 [Signature Page to Consent and Fourth Amendment to Amended and Restated Loan and
Security Agreement] 

 IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be duly executed and delivered as of the date first written above. 
  

			
	COLLATERAL AGENT AND LENDER:
	
	OXFORD FINANCE LLC
		
	By	 	 /s/ Mark Davis

	Name:	 	Mark Davis
	Title:	 	Vice President-Finance, Secretary & Treasurer
	
	LENDER:
	
	SILICON VALLEY BANK
		
	By	 	 /s/ James Callavaro

	Name:	 	James Callavaro
	Title:	 	Vice President

 [Signature Page to Consent and Fourth Amendment to Amended and Restated Loan and
Security Agreement] 

 EXHIBIT A 

Description of Collateral 
 The
Collateral consists of all of Borrower’s right, title and interest in and to the following personal property: 
 All goods, Accounts
(including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, General Intangibles (except as set forth below), commercial tort claims, documents,
instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, all certificates of deposit, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing),
securities and all other investment property (except as set forth below), supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and 

All Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions
for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing. 

Notwithstanding the foregoing, the Collateral does not include any of the following, whether now owned or hereafter acquired: (i) any
copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work, in each case whether published or unpublished or registered or unregistered; any patents, patent applications and
like protections, including improvements, divisions, continuations, renewals, reissues, extensions, and continuations-in-part of the same; trademarks, trade names, service marks, mask works, rights of use of any name, domain names, trade dress, any
applications therefor, in each case whether registered or not; and the goodwill of the business of Borrower connected with and symbolized thereby; know-how, operating and production manuals, trade secret rights, clinical and non-clinical data,
rights to unpatented inventions, source code, software, processes, techniques, research, studies, algorithms, formulae, databases, quality control procedures, technical specifications and data, sales literature, drawings, blueprints and inventions;
and any claims for damage by way of any past, present, or future infringement of any of the foregoing (collectively, the “Intellectual Property”); provided, however, the Collateral shall include all Accounts, license and royalty
fees and other revenues, proceeds, or income arising out of or relating to any of the foregoing; provided that if a judicial authority (including a U.S. Bankruptcy Court) would hold that a security interest in the underlying Intellectual Property is
necessary to have a security interest in such Accounts, license and royalty fees and other revenues, proceeds, or income of Intellectual Property, then the Collateral shall automatically, and effective as of the Effective Date, include the
Intellectual Property to the extent necessary to permit perfection of Collateral Agent’s security interest in such Accounts, license and royalty fees and other revenues, proceeds, or income of the Intellectual Property; (ii) any United
States intent-to-use trademark or service mark application to the extent that, and solely during the period in which, the grant of a security interest therein would impair the validity or enforceability of such intent-to-use trademark or service
mark application under applicable law, (iii) the Excluded Accounts, (iv) more than sixty five percent (65%) of the issued and outstanding capital stock, membership units or other securities owned or held of record by Borrower in
TransEnterix Europe, and (v) any of the issued and outstanding capital stock, membership units or other securities of Vulcanos. 

Pursuant to the terms of a certain negative pledge arrangement with Collateral Agent and Lenders, Borrower has agreed not to encumber any of
its Intellectual Property. 

 EXHIBIT C 

Compliance Certificate 

EXHIBIT D 
 Secured
Promissory Note 
 [SECOND][AMENDED AND RESTATED] SECURED PROMISSORY NOTE 

(Term [A][B][C] Loan) 
  

			
	$                    	  	Dated:                     

 FOR VALUE RECEIVED, the undersigned, TRANSENTERIX, INC., a Delaware corporation, TRANSENTERIX SURGICAL, INC.,
a Delaware corporation, SAFESTITCH LLC, a Virginia limited liability company, and TRANSENTERIX INTERNATIONAL, INC., a Delaware corporation, each with offices located at 635 Davis Drive, Suite 300, Morrisville, North Carolina 27560 (individually and
collectively, jointly and severally, “Borrower”) HEREBY PROMISES TO PAY to the order of OXFORD FINANCE LLC/SILICON VALLEY BANK (“Lender”) the principal amount of
                     Dollars ($        ) or such lesser amount as shall equal the
outstanding principal balance of the Term [A][B][C] Loan made to Borrower by Lender, plus interest on the aggregate unpaid principal amount of such Term [A][B][C] Loan, at the rates and in accordance with the terms of the Amended and Restated Loan
and Security Agreement by and among Borrower, OXFORD FINANCE LLC, as Collateral Agent, and the Lenders from time to time party thereto (as amended, restated, supplemented or otherwise modified from time to time, the “Loan
Agreement”). If not sooner paid, the entire principal amount and all accrued and unpaid interest hereunder shall be due and payable on the Maturity Date as set forth in the Loan Agreement. Any capitalized term not otherwise defined herein
shall have the meaning attributed to such term in the Loan Agreement. 
 Borrower agrees to prepay any initial partial monthly interest payment from the
date the Term [A][B][C] Loan is made to Borrower under this Secured Promissory Note (this “Note”) to the first Payment Date (“Interim Interest”) on the first Payment Date. 

Principal, interest and all other amounts due with respect to the Term [A][B][C] Loan made to Borrower by Lender are payable in lawful money of the United
States of America to Lender as set forth in the Loan Agreement and this Note. The principal amount of this Note and the interest rate applicable thereto, and all payments made with respect thereto, shall be recorded by Lender and, prior to any
transfer hereof, endorsed on the grid attached hereto which is part of this Note. 
 The Loan Agreement, among other things, (a) provides for the
making of a secured Term [A][B][C] Loan by Lender to Borrower, and (b) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events. 

This Note may not be prepaid except as set forth in Section 2.2(c) and Section 2.2(d) of the Loan Agreement. 

This Note and the obligation of Borrower to repay the unpaid principal amount of the Term [A][B][C] Loan, interest on the Term [A][B][C] Loan and all other
amounts due Lender under the Loan Agreement is secured under the Loan Agreement. 

 Presentment for payment, demand, notice of protest and all other demands and notices of any kind in connection
with the execution, delivery, performance and enforcement of this Note are hereby waived. 
 Borrower shall pay all reasonable Lenders’ Expenses,
including, without limitation, reasonable attorneys’ fees and costs, incurred by Lender in the enforcement or attempt to enforce any of Borrower’s obligations hereunder not performed when due. 

This Note shall be governed by, and construed and interpreted in accordance with, the internal laws of the State of New York. 

The ownership of an interest in this Note shall be registered on a record of ownership maintained by Lender or its agent. Notwithstanding anything else in
this Note to the contrary, the right to the principal of, and stated interest on, this Note may be transferred only if the transfer is registered on such record of ownership and the transferee is identified as the owner of an interest in the
obligation. Borrower shall be entitled to treat the registered holder of this Note (as recorded on such record of ownership) as the owner in fact thereof for all purposes and shall not be bound to recognize any equitable or other claim to or
interest in this Note on the part of any other person or entity. 
 [Except as otherwise set forth herein, this [Second] Amended and Restated Secured
Promissory Note is intended to and does completely amend and restate, without novation, that certain [Amended and Restated] Secured Promissory Note issued [DATE] by [BORROWER] in favor of Lender.] 

[Balance of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, Borrower has caused this Note to be duly executed by one of its officers
thereunto duly authorized on the date hereof. 
  

			
	BORROWER:
	
	TRANSENTERIX, INC.
		
	By	 	  

	Name:	 	
	Title:	 	
	
	TRANSENTERIX SURGICAL, INC.
		
	By	 	  

	Name:	 	
	Title:	 	
	
	SAFESTITCH LLC
	By: TransEnterix, Inc., its sole member
		
	By	 	  

	Name:	 	
	Title:	 	
	
	TRANSENTERIX INTERNATIONAL, INC.
		
	By	 	  

	Name:	 	
	Title:	 	

 LOAN INTEREST RATE AND PAYMENTS OF PRINCIPAL 

 

									
	 Date
	 	Principal Amount	 	Interest Rate	 	Scheduled Payment
Amount	 	Notation By

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