<PAGE>   1
                                                                   EXHIBIT 10.26



                    [CARDIAC PATHWAYS CORPORATION LETTERHEAD]



November 30, 1998



G. Michael Latta
4421 E. Williams Dr.
Phoenix, AZ 85050


Dear Mike:

This letter, when signed by you, will constitute an agreement between Cardiac
Pathways Corporation (the "Company") and you (the "Executive") concerning your
employment.

1.      The Company hereby offers the Executive and the Executive hereby accepts
        employment as Vice President - Finance and Chief Financial Officer of
        the Company.

2.      The Company agrees to pay the Executive a monthly base salary of
        $10,833.34 payable in accordance with the Company's standard payroll
        policy.

3.      The Executive's employment with the Company will be at-will and may be
        terminated by the Executive or the Company at any time.

4.      The Company will issue to the Executive an option exercisable for 72,500
        shares of Common Stock at its fair market value on the date of the
        grant. The current fair market value of Common Stock is $4.63. The grant
        of this option is subject to the Board of Directors' approval. The stock
        option will vest over a four year period with 1/48 of the shares vesting
        at the end of each full month following the date of grant. The stock
        option shall be represented by the Company's standard form of stock
        option agreement. This vesting schedule could be modified by the terms
        outlined in Sections 5 and 6.

5.      a. The term of this Agreement shall commence as of the effective date
        hereof and shall continue until terminated by either party in accordance
        with the provisions of this Section 5.

<PAGE>   2

G. Michael Latta
November 30,1998


         b. This Agreement may be terminated by the Company at any time for
         Justifiable Cause (as hereinafter defined) provided that the Company
         shall pay the Executive an amount equal to the sum of his then current
         monthly base salary as a severance payment for one month following the
         date of termination. For the purpose of this Agreement, the term
         "Justifiable Cause" shall include the occurrence of any of the
         following events: (i) the Executive's conviction for, or plea of nolo
         contendere, a felony or a crime involving moral turpitude, (ii) the
         Executive's commission of an act of personal dishonesty or breach of
         fiduciary duty involving personal profit in connection with the
         Company, (iii) the Executive's commission of an act, or failure to act,
         which the Executive's supervisor at the Company shall reasonably have
         found to have involved misconduct or gross negligence on the part of
         the Executive, in the conduct of his duties hereunder, (iv) habitual
         absenteeism, alcoholism or drug dependency on the part of the Executive
         which interfere with the performance of his duties hereunder, (v) the
         Executive's willful and material breach or refusal to perform his
         services as provided herein, (vi) any other material breach of this
         Agreement or (vii) the willful and material failure or refusal to carry
         out a direct request of the Executive's supervisor. The payment to the
         Executive of the severance payment described in this Section 5(b) will
         discharge all of the Company's obligations to the Executive.

         c. This Agreement may be terminated by the Company at any time without
         Justifiable Cause provided that the Company shall pay the Executive an
         amount equal to the sum of his then current monthly base pay as a
         severance payment for a period of six months following the date of
         termination, or until the Executive finds other employment, whichever
         is shorter. Any payments made pursuant to this Section 5(c) shall be
         reduced to the extent the Executive receives any other earnings related
         to employment or consulting services or other unemployment or
         disability compensation during the six month period. The payment to the
         Executive of the severance payment described in this Section 5(c) will
         discharge all of the Company's obligations (subject to the provisions
         noted in Section 6) to the Executive.

         d. This Agreement may be terminated by the Executive at any time upon
         30 days written notice, in which case the Company shall have no
         severance or other obligations to the Executive.


<PAGE>   3

G. Michael Latta
November 30, 1998


6.      Notwithstanding anything set forth in this Section 6, upon the
        Executive's involuntary termination of employment from the Company (for
        any reason other than for Justifiable Cause) on or after an Acquisition
        (as defined below), all then currently outstanding shares of Common
        Stock under stock options described in Section 4 above shall be fully
        and immediately exercisable. For purposes of this Section 6, an
        Acquisition shall be defined as a merger, reorganization, or sale of all
        or substantially all of the assets of the Company in which the
        shareholders of the Company immediately prior to the transaction possess
        less than fifty percent (50%) of the voting power of the surviving
        entity (or its parent) immediately after the transaction. The
        resignation of the Executive after a Constructive Termination (as
        defined below) shall be treated as an involuntary termination of
        employment under this Section 6. For purposes of this Section 6, a
        Constructive Termination shall mean a material reduction in salary or
        benefits, a material change in responsibilities, or a requirement to
        relocate, except for office relocations that would not increase the
        Executive's one-way commute distance by more than thirty-five (35)
        miles.

7.      As a condition of the Executive's employment, it is hereby acknowledged
        that the Executive has executed the Company's standard Proprietary
        Information Agreement.


If the you are in agreement with this proposal, please execute a copy of this
letter and return it to me as soon as possible.

Best personal regards,

CARDIAC PATHWAYS CORPORATION


/s/ WILLIAM N. STARLING

William N. Starling
President and
Chief Executive Officer

Acknowledged and accepted as of November 30, 1998.


/s/ G. MICHAEL LATTA
------------------------------------
G. Michael Latta