Document:

EX-10.10

 Exhibit 10.10 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of September 3, 2013 by and among
SafeStitch Medical, Inc., a Delaware corporation (the “Company”), and the parties identified as “SafeStitch Investors” and “TransEnterix Investors” on Schedule 1 hereto (collectively, the
“Investors”). Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement (as defined below). 

WHEREAS, the Company, Tweety Acquisition Corp., a Delaware corporation and a direct wholly-owned subsidiary of the Company (“Merger
Sub”), and TransEnterix, Inc., a Delaware corporation (“TransEnterix”), are parties to that certain Agreement and Plan of Merger, dated as of August 13, 2013 (the “Merger Agreement”), pursuant to which
Merger Sub shall be merged with and into TransEnterix in accordance with the Delaware General Corporation Law and TransEnterix shall be the surviving corporation (the “Merger”); 

WHERAS, certain existing stockholders of the Company and TransEnterix have subscribed or intend to subscribe, pursuant to a Securities
Purchase Agreement entered into on or after the date hereof (the “Securities Purchase Agreement”), for shares of capital stock of the Company (“Company Capital Stock”), with the consummation of such subscription to
occur after the closing of the Merger (the “Equity Financing,” and, together with the Merger, the “Transactions”); 

WHEREAS, (i) pursuant to the Merger, the TransEnterix Investors shall receive shares of Company Common Stock in exchange for the shares
of stock of TransEnterix formerly held by them on the terms as set forth in the Merger Agreement, and (ii) pursuant to the Equity Financing, the TransEnterix Investors and the SafeStitch Investors shall receive shares of Company Common Stock in
exchange for cash or other consideration on the terms as set forth in the Securities Purchase Agreement; 
 WHEREAS, the Company has agreed
to provide the registration and other rights set forth in this Agreement for the benefit of the TransEnterix Investors and the SafeStitch Investors pursuant to the Securities Purchase Agreement; and 

WHEREAS, the terms of the Securities Purchase Agreement require that this Agreement be executed and delivered on behalf of the TransEnterix
Investors and the SafeStitch Investors. 
 NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each party hereto, the parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS 

Section 1.01 Definitions. 

The terms set forth below are used herein as so defined: 

“Business Day” means a day other than a Saturday, Sunday or other day on which banks located in New York, New York are
authorized or required by law to close. 

 “Change of Control” shall mean either (i) the acquisition of the Company by
another person or entity by means of any transaction or series of related transactions to which the Company is a party (including, without limitation, any stock acquisition, reorganization, merger or consolidation, but excluding any such transaction
if the primary purpose of such transaction is to change the Company’s domicile, and excluding any equity financing the primary purpose of which is to raise operating capital for the Company) that results in a transfer of at least 50% of the
total voting power represented by the Company’s voting securities before such acquisition; or (ii) a sale, lease, or other conveyance of all or substantially all of the Company’s assets. 

“Commission” shall mean the Securities and Exchange Commission or any other federal agency at the time administering the
Securities Act. 
 “Consummation Date” shall mean the date on which the Transactions are consummated. 

“Holder” means the record holder of any Registrable Securities. 

“Included Registrable Securities” has the meaning specified therefore in Section 2.02(a) of this Agreement. 

“Lock-up Period,” means each of (i) the period commencing on the Consummation Date to and including the date that is
twelve (12) months following the Consummation Date (the “First Lock-up Period”); (ii) the period commencing on the Consummation Date to and including the date that is eighteen (18) months following the Consummation
Date (the “Second Lock-up Period”); and (iii) the period commencing on the Consummation Date to and including the date that is twenty-four (24) months following the Consummation Date (the “Third Lock-up
Period”) as further described in the Lock-Up and Voting Agreements entered into in connection with the Transactions (the “Lock-up and Voting Agreements”). 

“Losses” has the meaning specified therefore in Section 2.06(a) of this Agreement. 

“Majority-in-Interest” means Investors holding a majority of the Registrable Securities. 

“Managing Underwriter” means, with respect to any Underwritten Offering, the
book-running lead manager of such Underwritten Offering. 
 “Piggyback
Registration” means a registration involving the sale of Common Stock by the Company as described further in Section 2.02(a) of this Agreement. 

“Registrable Securities” means, with respect to any Holder (i) any and all shares of Company Common Stock which are
owned by such Holder as of the Consummation Date, (ii) any shares of Company Common Stock issuable upon exercise, conversion or exchange of any securities of the Company which are owned by such Holder as of the Consummation Date, and
(iii) any securities of the Company issued in respect of the shares of Company Common Stock issued or issuable to any of the Holders by way of stock dividend or stock split or in connection with a combination of shares, recapitalization,
merger, consolidation or other reorganization or 

  
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otherwise and any shares of Company Capital Stock issuable upon conversion, exercise or exchange thereof, in each case to the extent relating to any securities of the Company which were owned by
such Holder as of the Consummation Date, each of which Registrable Securities described under (i) through (iii) above are subject to the rights provided herein until such rights terminate pursuant to the provisions hereof. 

“Registration Expenses” has the meaning specified therefore in Section 2.05(a) of this Agreement. 

“Registration Statement” means a registration statement under the Securities Act to permit the resale of the Registrable
Securities using Form S-3, if available to the Company. 
 “Rule 144” means Rule 144 promulgated by the Commission pursuant
to the Securities Act, as may be amended from time to time. 
 “Rule 145” means Rule 145 promulgated by the Commission
pursuant to the Securities Act, as may be amended from time to time. 
 “Securities Purchase Agreement” has the meaning
specified therefore in the Recitals of this Agreement. 
 “Selling Expenses” has the meaning specified therefore in
Section 2.05(a) of this Agreement. 
 “Selling Holder” means a Holder who is selling Registrable Securities
pursuant to a registration statement. 
 “Underwritten Offering” means an offering (including an offering pursuant to a
Registration Statement) in which Common Stock is sold to an underwriter on a firm commitment basis for reoffering to the public or an offering that is a “bought deal” with one or more investment banks. 

Section 1.02 Registrable Securities. Any Registrable Security will cease to be a Registrable Security (a) when a Registration
Statement covering such Registrable Security has been declared effective by the Commission and such Registrable Security has been sold or disposed of pursuant to such effective Registration Statement, (b) when such Registrable Security is held
by the Company or one of its subsidiaries, (c) when such Registrable Security has been sold in a private transaction in which the transferor’s rights under this Agreement are not assigned to the transferee of such securities. 

ARTICLE II 
 REGISTRATION RIGHTS

 Section 2.01(a) Timing of Registration. As soon as practicable following the expiration of the Third Lock-up Period, but in
any event within 30 days of the expiration of the Third Lock-up Period, the Company shall prepare and file a Registration Statement under the Act with respect to all of the Registrable Securities; provided, that, at such time, the Company is then
eligible to use Form S-3. The Company shall use its commercially reasonable efforts to 

  
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cause such Registration Statement to become effective no later than 120 days after the date of the expiration of the Third Lock-up Period. If a prospectus supplement will be used in connection
with the marketing of an Underwritten Offering from the Registration Statement and the Managing Underwriter at any time shall notify the Company in writing that, in the sole judgment of such Managing Underwriter, inclusion of detailed information to
be used in such prospectus supplement is of material importance to the success of the Underwritten Offering of such Registrable Securities, the Company shall use its commercially reasonable efforts to include such information in the prospectus. The
Company will cause the Registration Statement filed pursuant to this Section 2.01 to be continuously effective under the Securities Act of 1933, as amended (the “Securities Act”), until there are no longer any Registrable
Securities outstanding, but in any event no longer than thirty-six (36) months after effectiveness thereof or such shorter period as is agreed to by a Majority-in-Interest of the Investors. The Registration Statement when declared effective
(including the documents incorporated therein by reference) will comply as to form with all applicable requirements of the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and will not contain
an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 

(b) Delay Rights. Notwithstanding anything to the contrary contained herein, the Company may, upon written notice to any Selling Holder
whose Registrable Securities are included in the Registration Statement, suspend such Selling Holder’s use of any prospectus which is a part of the Registration Statement (in which event the Selling Holder shall discontinue sales of the
Registrable Securities pursuant to the Registration Statement) if (i) the Company is pursuing an acquisition, merger, reorganization, disposition or other similar transaction and the Company’s independent directors determine in good faith
that the Company’s ability to pursue or consummate such a transaction would be materially and adversely affected by any required disclosure of such transaction in the Registration Statement or (ii) the Company has experienced some other
material non-public event the disclosure of which at such time, in the good faith judgment of the Company’s independent directors, would materially adversely affect the Company; provided, however, in no event shall
the Registration Statement be suspended for a period exceeding an aggregate of 90 days in any 365-day period. Upon disclosure of such information or the termination of the condition described above, the Company shall provide prompt notice to the
Selling Holders whose Registrable Securities are included in the Registration Statement, and shall promptly terminate any suspension of sales it has put into effect and shall take such other actions to permit registered sales of Registrable
Securities as contemplated in this Agreement. 
 Section 2.02 Piggyback Rights. 

(a) Participation. If at any time after the expiration of the First Lock-up Period the Company proposes to file a registration
statement for the sale of Common Stock in an Underwritten Offering for its own account and/or another Person, then as soon as practicable but not less than ten Business Days prior to the filing of such registration statement, the Company shall give
notice of such proposed Underwritten Offering to the Holders and such notice shall offer the Holders the opportunity to include in such Underwritten Offering such number of Registrable Securities (the “Included Registrable
Securities”) as each such Holder may request in writing (but only to the extent that such Registrable Securities are not then subject 

  
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to lock-up provisions under the Lock-up and Voting Agreements); provided, however, that if the Company has been advised by the Managing Underwriter that the inclusion
of Registrable Securities for sale for the benefit of the Holders will have an adverse effect on the price, timing or distribution of the Common Stock offered by the Company under such registration statement, then the amount of Registrable
Securities to be offered for the accounts of Holders shall be determined based on the provisions of Section 2.02(b). The notice required to be provided in this Section 2.02(a) to Holders shall be provided on a Business Day pursuant to
Section 3.02 hereof and receipt of such notice shall be deemed to be received by Holders on the next Business Day. Holder shall then have three (3) Business Days after such deemed receipt of the notice to request inclusion of Registrable
Securities in the Underwritten Offering. If no request for inclusion from a Holder is received within the specified time, then such Holder shall have no further right to participate in such Underwritten Offering. If a Holder decides not include some
or all of its Registrable Securities in any registration statement filed by the Company as described in this Section 2.02(a), such Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent
registration statement or registration statements as may be filed by the Company with respect to the offering by the Company of its securities, all upon the terms and conditions set forth herein. If, at any time after giving written notice of its
intention to undertake an Underwritten Offering and prior to the closing of such Underwritten Offering, the Company shall determine for any reason not to undertake or to delay such Underwritten Offering, the Company may, at its election, give
written notice of such determination to the Selling Holders and, (x) in the case of a determination not to undertake such Underwritten Offering, shall be relieved of its obligation to sell any Included Registrable Securities in connection with
such terminated Underwritten Offering, and (y) in the case of a determination to delay such Underwritten Offering, shall be permitted to delay offering any Included Registrable Securities for the same period as the delay in the Underwritten
Offering. Any Selling Holder shall have the right to withdraw such Selling Holder’s request for inclusion of such Selling Holder’s Registrable Securities in such offering by giving written notice to the Company of such withdrawal up to and
including the date immediately preceding the date on which the underwriters price such such offering. 
 (b) Priority of Piggyback
Rights. If the Managing Underwriter or Underwriters of any proposed Underwritten Offering of Company Common Stock included in an Underwritten Offering involving Included Registrable Securities advises the Company that the total amount of Company
Common Stock that the Selling Holders and any other Persons intend to include in such offering exceeds the number that can be sold in such offering without being likely to have an adverse effect on the price, timing or distribution of the Company
Common Stock offered or the market for the Company Common Stock, then the Company Common Stock to be included in such Underwritten Offering shall include the number of Registrable Securities that such Managing Underwriter or Underwriters advises the
Company can be sold without having such adverse effect, with such number to be allocated (i) first, to the Company and (ii) second, pro rata among the Selling Holders who have requested participation in such Underwritten Offering and any
other Person holding Company securities who may also be including any such securities for sale in such Underwritten Offering based, for each Selling Holder or other Person, on the fraction derived by dividing (x) the number of shares of Company
Common Stock proposed to be sold by such Selling Holder or other Person in such Underwritten Offering by (y) the aggregate number of shares of Company Common Stock proposed to be sold by all Selling Holders and other Persons in such
Underwritten Offering. For clarity, the 

  
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Managing Underwriter or Underwriters shall have the ability to fully cut back any Registrable Securities in connection with the Underwritten Offering. If any Selling Holder or other Person does
not agree to the terms of any such underwriting, such Selling Holder or other Person, as the case may be, may be excluded from the Underwritten Offering by written notice from the Company or the Managing Underwriter. Any Registrable Securities or
other Company securities excluded or withdrawn from such underwriting shall be withdrawn from such registration. To facilitate the allocation of shares in accordance with the above provisions, the Company or the Managing Underwriter or Underwriters
may round the number of shares allocated to any Holder to the nearest 100 shares. If shares are so withdrawn from the registration and if the number of shares of Registrable Securities to be included in such registration was previously reduced as a
result of marketing factors, the Company shall then offer to all persons who have retained the right to include securities in the registration the right to include additional securities in the registration in an aggregate amount equal to the number
of shares so withdran, with such shares to be allocated among the Selling Holders or other Person or Persons requesting additional inclusion in accordance with the formula contained in this Section 2.02(b). The Company shall have the right to
terminate or withdraw any registration initiated by it under this Section 2.02 at any time whether or not any Holder has elected to include securities in such registration. 

Section 2.03 Underwritten Offering. 

(a) S-3 Registration. If a Selling Holder elects to dispose of Registrable Securities under the Registration Statement pursuant to an
Underwritten Offering and reasonably anticipates gross proceeds of greater than $10 million from such Underwritten Offering, the Company shall, at the request of such Selling Holder, enter into an underwriting agreement in customary form with the
Managing Underwriter or Underwriters, which shall include, among other provisions, indemnities to the effect and to the extent provided in Section 2.06, and shall take all such other reasonable actions as are requested by the Managing
Underwriter to expedite or facilitate the disposition of the Registrable Securities. 
 (b) General Procedures. In connection with
any Underwritten Offering pursuant to this Agreement, the Company shall, at its sole discretion, be entitled to select the Managing Underwriter or Underwriters. In connection with an Underwritten Offering under Section 2.01 or Section 2.03
hereof, each Selling Holder and the Company shall be obligated to enter into an underwriting agreement that contains such representations, covenants, indemnities and other rights and obligations as are customary in underwriting agreements for firm
commitment offerings of securities. No Selling Holder may participate in such Underwritten Offering unless such Selling Holder agrees to sell its Registrable Securities on the basis provided in such underwriting agreement and completes and executes
all questionnaires, powers of attorney, indemnities and other documents required under the terms of such underwriting agreement. No Selling Holder shall be required to make any representations or warranties to or agreements with the Company or the
underwriters other than representations, warranties or agreements regarding such Selling Holder and its ownership of the securities being registered on its behalf and its intended method of distribution and any other representation required by law.
If any Selling Holder disapproves of the terms of an underwriting, such Selling Holder may elect to withdraw therefrom by notice to the Company and the Managing Underwriter; provided, that such withdrawal must be made prior to the time
in the last sentence of Section 2.02(a) hereof to be effective; and provided further, that such withdrawing Selling 

  
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Holder shall be obligated to pay fifty percent (50%) of its pro rata share (based on its pro rata share of the aggregate Registrable Securities and Company securities requested to be
included in such Underwritten Offering by all Selling Holders and any other Person or Persons) of the Registration Expenses incurred in connection with such underwriting as of the date of such withdrawal. 

Section 2.04 Sale Procedures. In connection with its obligations contained in Section 2.01 and Section 2.03, the Company
will: 
 (a) prepare and file with the Commission such amendments and supplements to the Registration Statement and the prospectus used in
connection therewith as may be necessary to keep the Registration Statement effective and as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by the Registration
Statement; 
 (b) furnish to each Selling Holder (i) as far in advance as reasonably practicable before filing the Registration
Statement or any other registration statement contemplated by this Agreement or any supplement or amendment thereto, upon request, copies of reasonably complete drafts of all such documents proposed to be filed, and provide each such Selling Holder
five (5) Business Days to object in writing to any information pertaining to such Selling Holder and its plan of distribution that is contained therein and make the corrections reasonably requested by such Selling Holder with respect to such
information prior to filing the Registration Statement or such other registration statement or supplement or amendment thereto, and (ii) such number of copies of the Registration Statement or such other registration statement and the prospectus
included therein and any supplements and amendments thereto as such Persons may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities covered by such Registration Statement or other registration
statement; 
 (c) if applicable, use its commercially reasonable efforts to register or qualify the Registrable Securities covered by the
Registration Statement or any other registration statement contemplated by this Agreement under the securities or blue sky laws of such jurisdictions as the Selling Holders or, in the case of an Underwritten Offering, the Managing Underwriter, shall
reasonably request, provided, however, that the Company will not be required to qualify generally to transact business in any jurisdiction where it is not then required to so qualify or to take any action which would subject it
to general service of process in any such jurisdiction where it is not then so subject; 
 (d) promptly notify each Selling Holder, at any
time when a prospectus relating thereto is required to be delivered under the Securities Act, of (i) the filing of the Registration Statement or any other registration statement contemplated by this Agreement or any prospectus or prospectus
supplement to be used in connection therewith, or any amendment or supplement thereto, and, with respect to such Registration Statement or any other registration statement or any post-effective amendment thereto, when the same has become effective,
and (ii) any written comments from the Commission with respect to any filing referred to in clause (i) and any written request by the Commission for amendments or supplements to the Registration Statement or any other registration
statement or any prospectus or prospectus supplement thereto; 

  
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 (e) immediately notify each Selling Holder, at any time when a prospectus relating thereto is
required to be delivered under the Securities Act, of (i) the happening of any event as a result of which the prospectus or prospectus supplement contained in the Registration Statement or any other registration statement contemplated by this
Agreement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then
existing, (ii) the issuance or threat of issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or any other registration statement contemplated by this Agreement, or the initiation of any
proceedings for that purpose, or (iii) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any
jurisdiction. Following the provision of such notice, the Company agrees to as promptly as practicable amend or supplement the prospectus or prospectus supplement or take other appropriate action so that the prospectus or prospectus supplement does
not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing and to take such other
action as is necessary to remove a stop order, suspension, threat thereof or proceedings related thereto; 
 (f) otherwise use its
commercially reasonable efforts to comply with all applicable rules and regulations of the Commission; 
 (g) make available to the
appropriate representatives of the Managing Underwriter and Selling Holders access to such information and the Company personnel as is reasonable and customary to enable such parties to establish a due diligence defense under the Securities Act;
provided, however, that the Company need not disclose any information to any such representative unless and until such representative has entered into a confidentiality agreement with the Company; 

(h) cause all such Registrable Securities registered pursuant to this Agreement to be listed on each securities exchange or nationally
recognized quotation system on which similar securities issued by the Company are then listed; 
 (i) use its commercially reasonable
efforts to cause the Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company to enable the Selling Holders to consummate
the disposition of such Registrable Securities; 
 (j) provide a transfer agent and registrar for all Registrable Securities covered by such
registration statement not later than the effective date of such registration statement; and 
 (k) enter into customary agreements and take
such other actions as are reasonably requested by the Selling Holders or the underwriters, if any, in order to expedite or facilitate the disposition of such Registrable Securities. 

  
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 Each Selling Holder, upon receipt of notice from the Company of the happening of any event of the
kind described in subsection (e) of this Section 2.04, shall forthwith discontinue disposition of the Registrable Securities until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by
subsection (e) of this Section 2.04 or until it is advised in writing by the Company that the use of the prospectus may be resumed, and has received copies of any additional or supplemental filings incorporated by reference in the
prospectus, and, if so directed by the Company, such Selling Holder will, or will request the managing underwriter or underwriters, if any, to deliver to the Company (at the Company’s expense) all copies in their possession or control, other
than permanent file copies then in such Selling Holder’s possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice. 

Section 2.05 Expenses. 

(a) Certain Definitions. “Registration Expenses” means all expenses incident to the Company’s performance under
or compliance with this Agreement to effect the registration of Registrable Securities under the Registration Statement pursuant to Section 2.01, an Underwritten Offering pursuant to Section 2.02 or Section 2.03, and the disposition
of such securities, including, without limitation, all registration, filing, securities exchange listing and annual maintenance fees, all registration, filing, qualification and other fees and expenses of complying with securities or blue sky laws,
fees of the Financial Industry Regulatory Authority, transfer taxes and fees of transfer agents and registrars, all word processing, duplicating and printing expenses, the fees and disbursements of counsel and independent public accountants for the
Company, including the expenses of any special audits or “cold comfort” letters required by or incident to such performance and compliance. Except as otherwise provided in Section 2.05 hereof, the Company shall not be responsible for
legal fees incurred by Holders in connection with the exercise of such Holders’ rights hereunder; provided, however that the Company shall pay the legal fees of one counsel to the Investors in an amount not to exceed $25,000. In
addition, the Company shall not be responsible for any “Selling Expenses,” which means all underwriting fees, discounts and selling commissions allocable to the sale of the Registrable Securities under the Registration
Statement. 
 (b) Expenses. Except for any Registration Expenses payable by a withdrawing Selling Holder pursuant to
Section 2.03(b), the Company will pay all reasonable Registration Expenses as determined in good faith, including, in the case of an Underwritten Offering, whether or not any sale is made pursuant to such Underwritten Offering. Each Selling
Holder shall pay all Selling Expenses in connection with any sale of its Registrable Securities hereunder. 
 Section 2.06
Indemnification. 
 (a) By the Company. In the event of a registration of any Registrable Securities under the Securities Act
pursuant to this Agreement, the Company will indemnify and hold harmless each Selling Holder thereunder, its directors and officers, and each underwriter, pursuant to the applicable underwriting agreement with such underwriter, of Registrable
Securities thereunder and each Person, if any, who controls such Selling Holder or underwriter within the meaning of the Securities Act and the Exchange Act, against any losses, claims, 

  
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damages, expenses or liabilities (including reasonable attorneys’ fees and expenses) (collectively, “Losses”), joint or several, to which such Selling Holder or underwriter
or controlling Person may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon any untrue
statement or alleged untrue statement of any material fact contained in the Registration Statement or any other registration statement contemplated by this Agreement, any preliminary prospectus or final prospectus contained therein, or any amendment
or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in light of the
circumstances under which they were made) not misleading, and will reimburse each such Selling Holder, its directors and officers, each such underwriter and each such controlling Person for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such Loss or actions or proceedings; provided, however, that the Company will not be liable in any such case if and to the extent that any such Loss arises out of or is based upon an
untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by such Selling Holder, such underwriter or such controlling Person in writing specifically for use in the Registration
Statement or such other registration statement, or prospectus supplement, as applicable. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Selling Holder or any such director, officer
or controlling Person, and shall survive the transfer of such securities by such Selling Holder. 
 (b) By Each Selling Holder. Each
Selling Holder agrees severally and not jointly to indemnify and hold harmless the Company, its directors and officers, and each Person, if any, who controls the Company within the meaning of the Securities Act or of the Exchange Act to the same
extent as the foregoing indemnity from the Company to the Selling Holders, but only with respect to information regarding such Selling Holder furnished in writing by or on behalf of such Selling Holder expressly for inclusion in the Registration
Statement or prospectus supplement relating to the Registrable Securities, or any amendment or supplement thereto; provided, however, that the liability of each Selling Holder shall not be greater in amount than the
dollar amount of the proceeds (net of any Selling Expenses) received by such Selling Holder from the sale of the Registrable Securities giving rise to such indemnification. 

(c) Notice. Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified
party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which
it may have to any indemnified party other than under this Section 2.06. In any action brought against any indemnified party, it shall notify the indemnifying party of the commencement thereof. The indemnifying party shall be entitled to
participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying party to such indemnified party of its election so to
assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 2.06 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof
other than reasonable costs of investigation and of liaison with counsel so selected; 

  
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provided, however, that, (i) if the indemnifying party has failed to assume the defense and employ counsel or (ii) if the defendants in any such action include both the
indemnified party and the indemnifying party and counsel to the indemnified party shall have concluded that there may be reasonable defenses available to the indemnified party that are different from or additional to those available to the
indemnifying party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, then the indemnified party shall have the right to select a separate counsel and to assume such legal
defense and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other reasonable expenses related to such participation to be reimbursed by the indemnifying party as incurred.
Notwithstanding any other provision of this Agreement, no indemnified party shall settle any action brought against it with respect to which it is entitled to indemnification hereunder without the consent of the indemnifying party, unless the
settlement thereof imposes no liability or obligation on, and includes a complete and unconditional release from all liability of, the indemnifying party. 

(d) Contribution. If the indemnification provided for in this Section 2.06 is held by a court or government agency of competent
jurisdiction to be unavailable to any indemnified patty or is insufficient to hold them harmless in respect of any Losses, then each such indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or
payable by such indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of such indemnified party on the other in connection with the statements or
omissions which resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that in no event shall such Selling Holder be required to contribute an aggregate amount in excess of the dollar amount
of proceeds (net of Selling Expenses) received by such Selling Holder from the sale of Registrable Securities giving rise to such indemnification. The relative fault of the indemnifying party on the one hand and the indemnified party on the other
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact has been made by, or relates to, information supplied by such
party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contributions pursuant to this
paragraph were to be determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to herein. The amount paid by an indemnified party as a result of the Losses referred to
in the first sentence of this paragraph shall be deemed to include any legal and other expenses reasonably incurred by such indemnified party in connection with investigating or defending any Loss which is the subject of this paragraph. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation. 

(e) Other Indemnification. The provisions of this Section 2.06 shall be in addition to any other rights to indemnification or
contribution which an indemnified party may have pursuant to law, equity, contract or otherwise. 

  
 11 

 Section 2.07 Rule 144 Reporting. With a view to making available the benefits of
certain rules and regulations of the Commission that may permit the sale of the Registrable Securities to the public without registration, the Company agrees to use its commercially reasonable efforts to: 

(a) Make and keep public information regarding the Company available, as those terms are understood and defined in Rule 144 of the Securities
Act, at all times from and after the date hereof; 
 (b) File with the Commission in a timely manner all reports and other documents
required of the Company under the Securities Act and the Exchange Act at all times from and after the date hereof, and 
 (c) So long as a
Holder owns any Registrable Securities, furnish to such Holder forthwith upon request a copy of the most recent annual or quarterly report of the Company, and such other reports and documents so filed as such Holder may reasonably request in
availing itself of any rule or regulation of the Commission allowing such Holder to sell any such securities without registration; provided that the Company’s obligations pursuant to this Section 2.07(c) shall be deemed satisfied with
respect to any document that is publicly available, free of charge, on the Commission’s EDGAR website. 
 Section 2.08 Transfer
or Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities granted to the Investors by the Company under this Article II may be transferred or assigned by any Investor to one or more transferee(s) or
assignee(s) of at least 500,000 shares of Registrable Securities or to an Affiliate of such Investor. The Company shall be given written notice prior to any said transfer or assignment, stating the name and address of each such transferee and
identifying the securities with respect to which such registration rights are being transferred or assigned. Each such transferee shall assume in writing responsibility for its portion of the obligations of such Investor under this Agreement be
executing a counterpart signature page hereto pursuant to which such transferee agrees to be bound by all terms and conditions contained in this Agreement. 

Section 2.09 Limitation on Subsequent Registration Rights. From and after the date hereof, the Company shall not (except in
connection with the issuance of securities as consideration to the sellers of any Company or business acquired by the Company), without the prior written consent of the a Majority-in-Interest of the Investors, enter into any agreement with any
current or future holder of any securities of the Company that alters, restricts, or otherwise limits the registration rights granted hereunder or that would allow such current or future holder to require the Company to include securities in any
registration statement filed by the Company on a basis that is superior (as opposed to pari passu) in any way to the registration rights granted to the Investors hereunder. 

ARTICLE III 
 MISCELLANEOUS 

Section 3.01 Termination. This Agreement shall terminate upon the earlier of: (a) with respect to a particular Holder, when
all Registrable Securities held by such Holder may be sold under Rule 144, (b) a Change of Control, but only as long as all Registrable Securities (or any securities for which such Registrable Securities are exchanged in such transaction) may
be sold by the Holder or Holders thereof without restriction pursuant to Rule 144 or Rule 145 immediately following the closing of such Change of Control, or (c) five (5) years following the date first set forth above. 

  
 12 

 Section 3.02 Communications. All notices and other communications provided for or
permitted hereunder shall be made in writing by facsimile, courier service or personal delivery: 
 (a) if to an Investors, to the address
set forth under such Investor’s signature block in accordance with the provisions of this Section 3.02, 
 (b) if to a transferee
of the Investor, to such transferee at the address provided pursuant to Section 2.08 above, and 
 (c) if to the Company, to the
address set forth under the Company’s signature block in accordance with the provisions of this Section 3.02. 
 All such notices
and communications shall be deemed to have been received at the time delivered by hand, if personally delivered; when receipt acknowledged, if sent via facsimile or sent via Internet electronic mail; and when actually received, if sent by any other
means. 
 Section 3.03 Effectiveness. This Agreement shall be effective automatically and without further action on the part of
any party hereto on the Closing Date. 
 Section 3.04 Amendments and Waivers. This Agreement may be amended, and any provision
of it may be waived, only by a written agreement executed by the Company and a Majority-in-Interest of the Investors. 
 Section 3.05
Successor and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties, including subsequent Holders of Registrable Securities to the extent permitted herein. 

Section 3.06 Assignment of Rights. All or any portion of the rights and obligations of the Investors under this Agreement may be
transferred or assigned by the Investors in accordance with Section 2.08 hereof. 
 Section 3.07 Independent Nature of
Investors’ Obligations and Rights. The obligations of each Investor under this Agreement are several and not joint with the obligations of any other Investor, and no Investor shall be responsible in any way for the performance of the
obligations of any other Investor under this Agreement or the Securities Purchase Agreement. Nothing contained herein, and no action taken by any Investor pursuant hereto shall be deemed to constitute the Investors as a partnership, an association,
a joint venture or any other kind of entity, or create a presumption that the Investors are in any way acting in concert or a group with respect to such obligations or the transactions contemplated by this Agreement or the Securities Purchase
Agreement. Each Investor acknowledges that no other Investor has acted as agent for such Investor in connection with enforcing its rights and obligations under this Agreement. Each Investor will be entitled to independently protect an enforce its
rights, including without limitation the rights arising out of this Agreement and it shall not be necessary for any other Investor to be joined as an additional party in any proceeding for such purpose. The Company acknowledges that each of the
Investors has been provided with the same Agreement for the purpose of closing a transaction with multiple Investors and not because it was required or requested to do so by any Investor. 

  
 13 

 Section 3.08 Aggregation of Purchased Common Stock. All Company Common Stock held or
acquired by Persons who are Affiliates of one another shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. 

Section 3.09 Recapitalization, Exchanges, etc. Affecting the Common Stock. The provisions of this Agreement shall apply to the
full extent set forth herein with respect to any and all securities of the Company or any successor, assign or acquirer of the Company (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for
or in substitution of, the Registrable Securities, and shall be appropriately adjusted for combinations, recapitalizations and the like occurring after the date of this Agreement. 

Section 3.10 Specific Performance. Damages in the event of breach of this Agreement by a party hereto may be difficult, if not
impossible, to ascertain, and it is therefore agreed that each such Person, in addition to and without limiting any other remedy or right it may have, will have the right to an injunction or other equitable relief in any court of competent
jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions hereof, and each of the parties hereto hereby waives any and all defenses it may have on the ground of lack of jurisdiction or competence of the court to
grant such an injunction or other equitable relief. The existence of this right will not preclude any such Person from pursuing any other rights and remedies at law or in equity which such Person may have. 

Section 3.11 Counterparts; Facsimile Signatures. This Agreement may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement. Facsimile or other
electronically transmitted signatures, including by email attachment, shall be deemed originals for all purposes of this Agreement. 

Section 3.12 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise
affect the meaning hereof. 
 Section 3.13 Governing Law. The laws of the State of Delaware shall govern this Agreement without
regard to principles of conflict of laws. 
 Section 3.14 Severability of Provisions. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting or impairing the validity or
enforceability of such provision in any other jurisdiction. 
 Section 3.15 Entire Agreement. This Agreement is intended by the
parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein with respect to the rights granted by the Company set forth herein. This Agreement supersedes all prior agreements and understandings between the parties with respect to
such subject matter. 

  
 14 

 Section 3.16 No Presumption. If any claim is made by a party relating to any
conflict, omission, or ambiguity in this Agreement, no presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a particular party or its counsel. 

[SIGNATURE PAGES FOLLOW] 

  
 15 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	SAFESTITCH MEDICAL, INC.
		
	By:	 	/s/ Jeffrey G. Spragens
	Name:	 	 Jeffrey G. Spragens

	Title:	 	 President and Chief Executive Officer

  

			
	with a copy to:
		
		 	Wilson Sonsini Goodrich & Rosati, P.C.
		 	650 Page Mill Road
		 	Palo Alto, CA 94304
		 	Facsimile: (650) 493-6811
		 	Attention: Philip H. Oettinger
		
	and	 	
		
		 	Greenberg Traurig, P.A.
		 	333 S.E. 2nd Avenue, Suite 4400
		 	Miami, FL 33131
		 	Facsimile: (305) 961-7756
		 	Attention: Robert L. Grossman

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

	
	AISLING CAPITAL III, LP
	
	/s/ Lloyd Appel
	Name: Lloyd Appel
	Title: CFO
	
	         Aisling Capital III, L.P.

888 Seventh Avenue, 30th Floor
 New York, NY 10106

Attn: Aftab Kherani
 Fax: 212 651 6379

	
	         With a required copy to:

 
 McDermott Will & Emery LLP

340 Madison Avenue
 New York, NY 10173-1922

Attn: Todd Finger
 Fax: 212 547 5444

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	SV LIFE SCIENCES FUND IV, L.P.
	By:	 	SV Life Sciences Fund IV (GP), L.P.,
		 	its sole General Partner
	By:	 	SVLSF IV, LLC, its sole General Partner
		
	By:	 	/s/ Denise W. Marks
	Name:	 	Denise W. Marks
	Title: 	 	SVLSF IV, LLC, Member

  

			
	SV LIFE SCIENCES FUND IV STRATEGIC PARTNERS, L.P.
	By:	 	SV Life Sciences Fund IV (GP), L.P.,
		 	its sole General Partner
	By:	 	SVLSF IV, LLC, its sole General Partner
		
	By:	 	/s/ Denise W. Marks
	Name:	 	Denise W. Marks
	Title: 	 	SVLSF IV, LLC, Member

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	SYNERGY LIFE SCIENCE PARTNERS, L.P.
		
	By:	 	/s/ Mudit K. Jain
	Name:	 	Mudit K. Jain
	Title: 	 	Managing Director

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	 STEPSTONE PIONEER CAPITAL BUYOUT

FUND II, L.P.

	By StepStone PCGP, LLC
		
	By: 	 	/s/ Jason Ment
	Name:	 	Jason Ment
	Title: 	 	Partner & General Counsel

  

			
	STEPSTONE PIONEER CAPITAL II, L.P.
	By StepStone PCGP, LLC
		
	By: 	 	/s/ Jason Ment
	Name:	 	Jason Ment
	Title: 	 	Partner & General Counsel

  

			
	STEPSTONE-SYN INVESTMENTS, L.L.L.P.
	By StepStone PCGP, LLC
		
	By: 	 	/s/ Jason Ment
	Name:	 	Jason Ment
	Title: 	 	Partner & General Counsel

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	INTERSOUTH PARTNERS VII, L.P.
	By: Intersouth Associates VII, LLC
	its General Partner
		
	By:	 	/s/ Dennis Dougherty
	Name:	 	Dennis Dougherty
	Title: 	 	Managing Member

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	QUAKER BIOVENTURES II, L.P.
	By: Quaker BioVentures Capital II, L.P., its general partner
	By: Quaker BioVentures Capital II, LLC, its general partner
		
	By:	 	/s/ Matthew B. Rieke
		 	Matthew B. Rieke, Vice President

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	INTERNATIONAL BIOTECHNOLOGY TRUST PLC
		
	By: 	 	/s/ Nick Colemen
	Name:	 	Nick Colemen
	Title: 	 	IBT Authorized Signatory
	
	 Address for Notice:
 55 Moorgate

London, EC2R 6PA
 United Kingdom

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	KFBSF PRIVATE EQUITY FUND I, L.P.
		
	By:	 	/s/ David Stevens
	Name:	 	David Stevens
	Title:	 	Manager

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	By:	 	/s/ Donald L. Laurie
	Name:	 	Donald L. Laurie
	Title:	 	 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	JOSEPH LEVY REVOCABLE TRUST
		
	By:	 	 /s/ Joseph Levy

	Name:	 	Joseph Levy
	Title:	 	Trustee

 Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	MARLIN CAPITAL INVESTMENTS, LLC
		
	By:	 	 /s/ Michael Brauser

	Name:	 	Michael Brauser
	Title:	 	MGR

 Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	JACQUELINE SIMKIN REVOCABLE TRUST
		
	By:	 	 /s/ Jacqueline Simkin

	Name:	 	Jacqueline Simkin
	Title:	 	Trustee

 Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

	
	 /s/ Yehuda Ben-Horin

	 Yehuda Ben-Horin

	
	 /s/ Aviva Ben-Horin

	Aviva Ben-Horin

 Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	FROST GAMMA INVESTMENTS TRUST
		
	By:	 	 /s/ Phillip Frost, MD

	Name:	 	Phillip Frost, MD
	Title:	 	

 Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

	
	 /s/ Phillip Frost, MD

	Phillip Frost, MD

 Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	HSU GAMMA INVESTMENTS, L.P.
		
	By:	 	 /s/ Jane H. Hsiao, Ph.D., MBA

	Name:	 	Jane H. Hsiao, Ph.D., MBA
	Title:	 	

 Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

	
	 /s/ Jane H. Hsiao, Ph.D., MBA

	Jane H. Hsiao, Ph.D., MBA

 Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	CHUNG CHIA COMPANY LIMITED
		
	By:	 	/s/ Hsu Tsui-Hua

 
			
	Name:	 	Hsu Tsui-Hua

 
			
	Title:	 	Director

 Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Registration Rights Agreement on the date first written above. 
  

			
	KWANG SHUN COMPANY LIMITED
		
	By:	 	/s/ Chang Hsiu-Yen

 
			
	Name:	 	Chang Hsiu-Yen

 
			
	Title:	 	Director

 Signature Page to Registration Rights Agreement 

 Schedule I 

Schedule of Investors 
  

					
	 	 	 TransEnterix Investor Name and Address
	 	 
		 	 SYNERGY LIFE SCIENCE PARTNERS, L.P.

Attn: Mudit K. Jain
 3284 Alpine Road

Portola Valley, CA 94028
	 	
			
		 	 SV LIFE SCIENCES FUND IV, L.P.
 c/o David
Milne
 One Boston Place Suite 3900
 201 Washington Street

Boston, MA 02108
	 	
			
		 	 SV LIFE SCIENCES FUND IV STRATEGIC PARTNERS, L.P.

c/o David Milne
 One Boston Place Suite 3900

201 Washington Street
 Boston, MA 02108
	 	
			
		 	 AISLING CAPITAL III, LP
 Attention: Andrew
Schiff
 888 Seventh Avenue, 30th Floor
 New York, NY 10106

 
 With a required copy to:

McDermott Will & Emery LLP
 Attn: Todd Finger

340 Madison Avenue
 New York, NY 10173-1922
	 	
			
		 	 INTERSOUTH PARTNERS VII, L.P.
 102 City Hall
Plaza, Suite 200
 Durham, NC 27701
  

With a copy to:
 Anthony L. Williams

Wyrick Robbins Yates & Ponton LLP
 4101 Lake Boone Trail,
Suite 300
 Raleigh, NC 27607
	 	
			
		 	 QUAKER BIOVENTURES II, L.P.
 Cira Centre

2929 Arch Street
 Philadelphia, PA 19104
	 	

					
		 	 INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Attn: Nick Coleman
 55 Moorgate

London, EC2R 6PA
 United Kingdom
	 	
			
		 	 KFBSF Private Equity Fund I, L.P.
 Attn:
Randy Myer
 University of North Carolina
 Campus Box 3490

Chapel Hill, NC 27599-3490
	 	
			
		 	 DONALD L. LAURIE
 282 Beacon Street

Boston, MA 02116
	 	
			
		 	 STEPSTONE GROUP, LP
 Attn: Johnny Randel

4350 La Jolla Village Drive, Suite 800
 San Diego, CA
92122
	 	
			
	 	 	 SafeStitch Investor Name and Address 
	 	 
		 	 JANE HSIAO
 4400 Biscayne Blvd.

Miami, FL 33137
	 	
			
		 	 HSU GAMMA INVESTMENTS, L.P.
 4400 Biscayne
Blvd.
 Miami, FL 33137
	 	
			
		 	 PHILLIP FROST
 4400 Biscayne Blvd.

Miami, FL 33137
	 	
			
		 	 FROST GAMMA INVESTMENTS TRUST
 4400 Biscayne
Blvd.
 Miami, FL 33137
	 	
			
		 	 JOSEPH LEVY REVOCABLE TRUST
 4400 Biscayne
Blvd.
 Miami, FL 33137
	 	
			
		 	 MARLIN CAPITAL INVESTMENTS, LLC
 4400 Biscayne
Blvd.
 Miami, FL 33137
	 	
			
		 	 JACQUELINE SIMKIN REVOCABLE TRUST
 4400
Biscayne Blvd.
 Miami, FL 33137
	 	

					
		 	 YEHUDA BEN-HORIN AND AVIVA BEN-HORIN

4400 Biscayne Blvd.
 Miami, FL 33137
	 	
			
		 	 CHUNG CHIA COMPANY LIMITED
 Palm Grove House

PO Box 438
 Road Town Tortola

British Virgin Island
	 	
			
		 	 KWANG SHUN COMPANY LIMITED
 TF No 308 Sec 2 Bade
Rd.
 Taipei 10492
 TaiwanEX-10.11

 Exhibit 10.11 
 August 30, 2013 
 Dr. Charles Filipi 

4400 Biscayne Blvd. 
 Miami, FL 33137 

Dear Dr. Filipi: 
 As you know, SafeStitch
Medical, Inc. (the “Company” or “SafeStitch”), TransEnterix, Inc. (“TransEnterix”), and certain other parties have executed an Agreement and Plan of Merger (the “Merger Agreement”) in which the Company is to
acquire TransEnterix in return for issuing a majority ownership interest to TransEnterix’s stockholders (the “Merger). The closing of the Merger is currently scheduled for September 3, 2013 (the “Closing Date”). 

In connection with the Merger, I am pleased to offer you a position with the Company following the Closing Date as its Chief Medical Officer, reporting
to Todd M Pope. The terms of this letter agreement are contingent upon the closing of the Merger and will commence on the Closing Date. Starting on the Closing Date, your base salary will be $12,500 per month and paid in accordance with the
Company’s normal payroll procedures. You will also be eligible to continue to participate in the employee benefit plans currently and hereafter maintained by the Company of general applicability to other employees of the Company. Pursuant to
Section 6.06(b) of the Merger Agreement, the Company and TransEnterix will, among other things, recognize your prior service with SafeStitch for all purposes (including, for purposes of eligibility to participate in Company benefit plans,
vesting credit, and entitlement to benefits and benefit accrual). The Company reserves the right to cancel or change its policies and benefit plans at arty time, upon notice to you. The Company reserves the right to cancel or change its policies and
benefit plans at any time. 
 You should be aware that your employment with the Company is for no specified period and constitutes at-will
employment. As a result, you are free to resign at any time, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause, and with or without notice. 

If, within the twelve (12) month period following the Closing Date, the Company terminates your employment other than for Cause (as defined below),
death or disability, then you will be entitled to receive, subject to your executing and delivering to the Company, after such termination of employment, a written general release in a form satisfactory to the Company (the “Release”) that
becomes effective and irrevocable by the sixtieth (60th) day following your termination of employment (the “Release Deadline Date”), (i) continuing payments of severance pay (less applicable withholding taxes) for the amount of
salary you would have been paid from the date of your termination through the twelve (12) month anniversary of the Closing Date had you remained an employee of the Company through such date, payable through the twelve (12) month
anniversary of the Closing Date in accordance with the Company’s normal payroll policies, and (ii) if you elect continuation coverage pursuant to COBRA or comparable state law within the time period prescribed pursuant to COBRA or such
comparable state law, the Company will reimburse you for the portion of the applicable premiums for such coverage (at the coverage levels in effect 

 
immediately prior to your termination) equal to the amount the Company would have paid to continue your group medical and dental insurance coverage had you remained an employee of the Company
(the “COBRA Reimbursements”) until the earlier of (A) the twelve (12) month anniversary of the Closing Date or (B) the date upon which you and your eligible dependents become covered under similar plans or are otherwise
ineligible for coverage under COBRA or such comparable state law; provided that, if the Company determines in its sole discretion that it cannot provide the COBRA Reimbursements without potentially violating applicable law (including, without
limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to you a taxable monthly payment in an amount equal to the monthly COBRA Reimbursement, which payments will be made regardless of whether you
elect COBRA continuation coverage, until the earlier of (A) the twelve (12) month anniversary of the Closing Date or (B) the date upon which you and your eligible dependents become covered under similar plans or are otherwise
ineligible for coverage under COBRA or such comparable state law. 
 Notwithstanding the foregoing, if the Release does not become effective and
irrevocable by the Release Deadline Date, you will forfeit any right to the severance payments or other separation benefits under this letter. In no event will the severance payments or other separation benefits be paid or provided until the Release
actually becomes effective and irrevocable. Except as required by the following paragraph, if the Release becomes effective by the Release Deadline Date, the severance payments under this letter will commence on the Release Deadline Date. Except as
required by the following paragraph, any installment payments that would have been made to you during the period from the date of your termination of employment through the date the Release becomes effective and irrevocable but for the preceding
sentence will be paid to you on the Release Deadline Date, and the remaining payments will be made as provided in this letter. 

Notwithstanding anything to the contrary in this letter, any severance payments or benefits under this letter that would be considered deferred
compensation (the “Deferred Payments”) under Section 409A of the Internal Revenue Code (as it has been and may be amended from time to time) and any regulations and guidance that has been promulgated or may be promulgated from time to
time thereunder (“Section 409A”) will not be paid until you have experienced a “separation from service” within the meaning of Section 409A. Additionally, if you are a “specified employee” within the meaning of
Section 409A at the time of your separation from service, then the Deferred Payments that would otherwise be due to you on or within the six (6) month period following your separation from service but for this paragraph, will accrue during
such six (6) month period and will become payable in a lump sum payment on the date six (6) months and one (1) day following the date of your termination (such rule, the “Six Month Delay Rule”). All subsequent Deferred
Payments following the application of the Six Month Delay Rule, if any, will be payable in accordance with the payment schedule applicable to each payment. It is the intent of this letter to comply with the requirements of Section 409A so that
none of the severance payments will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to so comply. Each payment and benefit payable under this letter is intended to
constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. 
 For purposes of this letter,
“Cause” means (i) your material failure to perform your responsibilities after ten (10) days’ written notice given by an executive officer of the Company to you, which notice shall identify your failure in sufficient detail
and grant you an opportunity to cure such failure within 

  
 -2-

 
such ten (10) day period, (ii) your material violation or breach of any non-competition, non-solicitation or non-disclosure agreement contained in your consulting or employment
agreement with the Company or any of its subsidiaries, (iii) any material act by you of dishonesty or bad faith with respect to the Company or any of its subsidiaries, (iv) use of alcohol or drugs in a manner that materially adversely
affects your work performance, or (v) your conviction of or no contest plea to a felony (whether or not against the Company or its subsidiaries). Notwithstanding the foregoing, your refusal to report to work at a location other than in Omaha,
Nebraska shall not constitute grounds for the Company to terminate you for Cause. 
 For the avoidance of any doubt, your outstanding stock
options granted under the Company’s 2007 Incentive Compensation Plan, as amended (the “Stock Plan”), will continue to be governed by the terms of the Stock Plan and the option agreements representing such stock options. You agree and
acknowledge that the continuation of your stock options constitutes an assumption of your stock options by a successor corporation for purposes of the Stock Plan and your option agreements. 
 We ask that you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit the manner in which you may be
employed. It is our understanding that you are not prohibited or limited in any way from performing the duties of your position, and you hereby represent that such is the case. 
 To accept the terms of this letter, please sign and date this letter in the space provided below by EOB 9/03/2013. Your employment is contingent upon your signing the enclosed Employment, Confidential
Information, and Invention Assignment Agreement. Please return these signed documents to me in the enclosed return envelope. Duplicate originals are enclosed for your records. 
 This letter, along with any agreements relating to proprietary rights between you and the Company, set forth the terms of your employment with the Company on and following the Closing Date and supersede
any prior representations or agreements, whether written or oral, including, but not limited to, the Proprietary Information and Invention Agreement dated September 3, 2013. This letter, including, but not limited to, its at-will employment
provision, may not be modified or amended except by a written agreement signed by the President & CEO of the Company and you. 
 Our
Company is advancing surgery through innovation, and we hope you will accept this opportunity to join our team! 
 Should you have any
questions, please contact me at (919) 765-8401 or email gcraig@transenterix.com. 
  

	
	Sincerely,
	
	/s/ Georgia H. Craig
	 Georgia H. Craig
 Manager of
Executive Administration

 TransEnterix, Inc. 
 635 Davis Drive, Suite 300 
 Morrisville, NC 27560 

  
 -3-

 I understand and agree to the terms of employment set forth above. 

							
				
	/s/ Dr. Charles Filipi	 		 		 	September 3, 2013
	  
	 		 		 	  

	Signature / Name	 		 		 	Date

  
 -4-

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