SEC Contract Filing

Filing Date: 2015-02-06

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-10.1
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<TITLE> EX-10.1 </TITLE>
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>Exhibit&nbsp;10.1</B>
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<P align="center" style="font-size: 12pt"><B>EMPLOYMENT AGREEMENT</B>

<P align="left" style="font-size: 12pt; text-indent: 4%">This Employment Agreement (this &#147;<U>Agreement</U>&#148;) is made and entered into as of February
3, 2015, by and between TransEnterix, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;), and
Todd M. Pope (the &#147;<U>Executive</U>&#148;).

<P align="center" style="font-size: 12pt"><B>WITNESSETH</B>

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>WHEREAS</B>, the Company and the Executive (the &#147;<U>Parties</U>&#148;) have agreed to enter into this
Agreement relating to the employment of the Executive by the Company;

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>NOW, THEREFORE</B>, in consideration of the premises and mutual covenants contained herein and for
other good and valuable consideration, the Parties, intending to be legally bound, agree as
follows:

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<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
 <TD width="1%" nowrap align="right">1.</TD>
 <TD width="1%">&nbsp;</TD>
 <TD><U>Term of Employment</U>.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 12pt; text-indent: 4%">(a)&nbsp;The Company employs the Executive, and the Executive agrees to remain in the employment of
the Company, in accordance with the terms and provisions of this Agreement, for the period set
forth below (the &#147;<U>Employment Period</U>&#148;).

<P align="left" style="font-size: 12pt; text-indent: 4%">(b)&nbsp;The Employment Period under this Agreement commenced on September&nbsp;3, 2013 (the
&#147;<U>Effective Date</U>&#148;) and, subject only to the provisions of Sections&nbsp;6, 7 and 8 below relating
to termination of employment, shall continue until the close of business on December&nbsp;31, 2015 or,
if the Employment Period is extended pursuant to subsection (c)&nbsp;of this Section&nbsp;1, the close of
business on the Extended Termination Date.

<P align="left" style="font-size: 12pt; text-indent: 4%">(c)&nbsp;On December&nbsp;31, 2015, and on each Extended Termination Date, the Employment Period will
automatically be extended for an additional 12-month period so as to end on December&nbsp;31 of the
succeeding calendar year (an &#147;<U>Extended Termination Date</U>&#148;) unless either Party gives written
notice to the other Party at least one hundred twenty (120)&nbsp;days in advance of the date on which
the Employment Period would otherwise end that the Employment Period will not be extended.

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
 <TD width="1%" nowrap align="right">2.</TD>
 <TD width="1%">&nbsp;</TD>
 <TD><U>Duties</U>.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 12pt; text-indent: 4%">During the Employment Period the Executive will serve as the President and Chief Executive
Officer of the Company. The Executive will devote his full business time and attention to the
affairs of the Company and his duties as its President and Chief Executive Officer; provided,
however, the Executive is not precluded from serving on the board of directors or managers, or
committees thereof, of other entities if so serving as of the Effective Date or if approved by the
Nominating and Corporate Governance Committee. The Executive will have such duties as are
appropriate to his position as determined by the Board of Directors of the Company (the
&#147;<U>Board</U>&#148;) and shall report to the Board and serve at the pleasure of the Board. The
Executive will be based at the headquarters of the Company, which is currently located in
Morrisville, North Carolina, and his services will be rendered there except insofar as travel may
be involved in connection with his regular duties.

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
 <TD width="1%" nowrap align="right">3.</TD>
 <TD width="1%">&nbsp;</TD>
 <TD><U>Cash- and Equity-Based Compensation</U>.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 12pt; text-indent: 4%">(a)&nbsp;<U>Base Salary</U>. The Company will pay the Executive an annual base salary, which is
currently $400,000, which base salary as in effect from time to time will be reviewed periodically
(at intervals of not more than twelve (12)&nbsp;months) by the compensation committee of the Board (the
&#147;<U>Compensation Committee</U>&#148;). In evaluating increases in the Executive&#146;s base salary, the
Compensation Committee will take into account such factors as corporate performance in relation to
the business plan approved by the Board, individual merit, and such other considerations as it
deems appropriate. The Executive&#146;s base salary will be paid in accordance with the standard
practices for other corporate executives of the Company.

<P align="left" style="font-size: 12pt; text-indent: 4%">(b)&nbsp;<U>Incentive Compensation</U>. The Executive will be eligible to receive annually or
otherwise any incentive compensation awards, payable in cash, which the Company, the Compensation
Committee or such other authorized committee of the Board determines to award. For each fiscal
year of the Company falling in whole or in part during the Employment Period, the Executive&#146;s
target annu