Intuitive Surgical, Inc. Stock Option Grant Notice under 2009 Employment Commencement Incentive Plan

Summary

This agreement is between Intuitive Surgical, Inc. and an employee (the Optionholder), granting the employee the right to purchase a specified number of company shares at a set price under the 2009 Employment Commencement Incentive Plan. The agreement outlines the grant date, vesting schedule, exercise price, and payment methods. The option cannot be exercised early and is subject to the terms of the Stock Option Agreement and the Plan. The agreement supersedes prior arrangements regarding stock options, except for previously granted options and certain other specified agreements.

EX-10.9 2 isrg-20151231xex109.htm EXHIBIT 10.9 Exhibit

Exhibit 10.9

Intuitive Surgical, Inc.

Stock Option Grant Notice

(2009 Employment Commencement Incentive Plan)

Intuitive Surgical, Inc. (the “Company”), pursuant to its 2009 Employment Commencement Incentive Plan (the “Plan”), hereby grants to Optionholder an option to purchase the number of shares of the Company’s Common Stock set forth below. This option is subject to all of the terms and conditions as set forth herein and in the Stock Option Agreement, the Plan and the Notice of Exercise, all of which are attached hereto and incorporated herein in their entirety.

Optionholder:

Date of Grant:

Vesting Commencement Date:

Number of Shares Subject to Option:

Exercise Price (Per Share):

Total Exercise Price:

Expiration Date:


Type of Grant:	Incentive Stock Option ⁽¹⁾ o


.	Nonstatutory Stock Option o


Exercise Schedule:	Early Exercise Is Not Permitted

Vesting Schedule: [To be set forth in individual agreement]


Payment:	By one or a combination of the following items (described in the Stock Option Agreement):

By cash or check

Pursuant to a Regulation T Program if the Shares are publicly traded

By delivery of already-owned shares if the Shares are publicly traded

Additional Terms/Acknowledgements: The undersigned Optionholder acknowledges receipt of, and understands and agrees to, this Grant Notice, the Stock Option Agreement and the Plan. Optionholder further acknowledges that as of the Date of Grant, this Grant Notice, the Stock Option Agreement and the Plan set forth the entire understanding between Optionholder and the Company regarding the acquisition of stock in the Company and supersede all prior oral and written agreements on that subject with the exception of (i) options previously granted and delivered to Optionholder under the Plan, and (ii) the following agreements only:

Other Agreements:



Intuitive Surgical, Inc.		Optionholder:

Title:		Date:
Date:

Attachments: Stock Option Agreement and 2009 Employment Commencement Incentive Plan

_{(1)If this is an incentive stock option, it (plus your other outstanding incentive stock options) cannot be first}_exercisable_{for more than $100,000 in any calendar year. Any excess over $100,000 is a nonstatutory stock option.}