Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.TransEnterix, Inc. (the "Company") announced thatBrett Farabaugh has joined the Company in the role of Interim Chief Financial Officer, effectiveJanuary 2, 2020 .Mr. Farabaugh will serve as Interim Chief Financial Officer untilApril 30, 2020 , with an initial annualized base salary of$300,000 and benefits offered to executive officers. Either the Company orMr. Farabaugh may terminate his employment for any reason, with or without cause. OnJanuary 2, 2020 ,Mr. Farabaugh received a grant of restricted stock units to acquire 30,000 shares of the Company's common stock, which vests 90 days following the earlier of (a)April 30, 2020 , or (b) ifMr. Farabaugh's employment is continued, the date on whichMr. Farabaugh's continued employment begins. The grant was made under the Company's Amended & Restated Equity Incentive Plan.Mr. Farabaugh has served as CFO ofTryton Medical, Inc. , a developer of coronary stents based inDurham, North Carolina sinceAugust 2008 , and as CEO ofTryton Medical sinceAugust 2019 . As he winds down theTryton Medical business,Mr. Farabaugh will continue withTryton Medical in his current roles, which is expected to be on a limited basis. The foregoing description of the offer letter toMr. Farabaugh is not complete and is qualified in its entirety by the Offer Letter, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein. Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 10.1Offer Letter , datedDecember 17, 2019 , toBrett Farabaugh . 2
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