Document:

Exhibit 10.1

CONFIDENTIAL 

 

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT
(“Agreement”) is made effective as of May 31, 2013 (the “Effective Date”), by and between Ian Dawson (“Employee”)
and MAKO Surgical Corp. (“Company”).

		1.	Employment

On the terms and conditions
set forth in this Agreement, the Company hereby employs the Employee as its Senior Vice President of Marketing for a one (1) year
period commencing effective as of the Effective Date (in total, the “Term”). This Agreement is subject to renewal by
the mutual written agreement of the parties on terms and conditions mutually agreed to by the parties at the time of renewal. In
the event either party does not intend to renew the Agreement following expiration of the initial (1) year term, ninety (90) days
written advance notice shall be given to the other party (a “Notice of Non-Renewal”). If no such Notice of Non-Renewal
is given this Agreement shall automatically renew for one (1) year terms. In the event of non-renewal by the Company, the Company
shall, with delivery of its Notice of Non-Renewal, provide Employee with written notice of its election to either (a) pay Employee
severance in accordance with Section 3(c) hereto in consideration for the Restrictive Covenants contained in Section 5(b); or (b)
waive the rights to enforcement of and release Employee from obligations of the Restrictive Covenants contained in Section 5(b).

The Employee hereby accepts
such employment and agrees to perform the services and duties required on an exclusive (except as agreed to in writing by Board
of Directors of the Company (the “Board”)) and full-time basis. Employee hereby represents and warrants that Employee
is under no contractual, legal, or other impediment to performing the services required under this Agreement.

 

 

 

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The Employee further agrees
that Employee will use best efforts to perform Employee’s duties hereunder to the best of Employee’s ability in accordance
with Company policies, and in a diligent, proper and workmanlike manner. In the performance of Employee’s duties, Employee
shall be subject to the direction, supervision and control of the Company’s President and CEO. The Employee shall have supervision
and control over the day-to-day business and affairs as described in a Job Description document on file with the Human Resources
Department of Company, as updated from time to time and acknowledged by Employee (the “Job Responsibilities”). Employee
will perform the duties and responsibilities under this Agreement based out of the offices of the Company located in South Florida
and shall travel to such other locations as the Company may reasonably direct.

		2.	Compensation

During the term of employment
under this Agreement, and as full compensation for all the Employee's services rendered under this Agreement, the Employee shall
receive the following compensation and benefits:

		a.	Base Salary:

The Employee shall receive
an annual base salary (as increased from time to time, “Base Salary”) at the rate of $260,000. The Employee’s
Base Salary will be payable in installments consistent with the Company’s payroll schedule, subject to usual and required
employee payroll deductions, including, without limitation, applicable taxes. Employee’s Base Salary shall be increased on
an annual basis in the sole discretion of the Board.

 

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		b.	Cash Performance Bonus:

The Employee shall be eligible
for a performance cash bonus for any year under this Agreement commencing with 2013 performance based on the Company’s Leadership
Cash Bonus Plan. The Employee’s performance cash bonus shall be as determined by the Board and calculated based on Employee’s
performance (as an individual and as part of the Company). The decision about whether the necessary criteria have been met for
a performance cash bonus and whether to award such performance bonus shall be in the sole and absolute discretion of the Board
and is final. The bonus, should one be awarded, shall be payable within ninety (90) days following the period for which the bonus
is awarded.

		c.	Equity:

On the Effective Date of this
Agreement, Employee shall receive an award of nonqualified stock options (NSOs), issued pursuant and subject to the Company’s
2008 Omnibus Incentive Plan (the “Option Plan,” a copy of which has been furnished to Employee), entitling Employee
to purchase one hundred fifty thousand (150,000) shares of the Company’s Common Stock (the “Initial Option Award”).
Employee is eligible to receive an additional award in the sole and absolute discretion of the Board. The purchase price per share
for any option award will be the fair market value of such Common Stock at the time of such equity award. The grant to Employee
of and payment for any option award shall in each case be made pursuant and subject to the terms of a NSO Agreement (with associated
exhibits, a copy of which has been provided to Employee) between the Company and Employee, consistent with the Option Plan. Except
as otherwise provided in Sections 3(c) and (d) of this Agreement, in the event this Agreement is terminated for any reason by either
the Company or Employee, Employee shall not be entitled to, and therefore shall forfeit, any unvested equity interest in the Company.

 

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		d.	Benefits:

The Employee shall be eligible
for participation in the employee welfare benefit plans, practices, policies and programs provided by the Company, including but
not limited to, health insurance and dental insurance, subject to the terms and provisions of said benefit plans. The Employee
shall also be entitled to twenty (20) days paid time off (PTO). In addition, subject to approval by the Company’s Chief Executive
Officer, Employee shall be reimbursed for reasonable expenses relating to Employee’s professional continuing education requirements
(if applicable) and professional licensing fees (if applicable).

		e.	Relocation:

Employee has committed to
working full-time at the Company’s South Florida headquarter or traveling on Company business until ultimately relocating
to South Florida (the “Relocation”), with an intention to do so within the one year period following the Effective
Date (the “Intended Relocation Period”). The Employee will receive a one-time Gross Payment (defined as a payment that
shall be subject to applicable payroll taxes, through the Company’s payroll withholding process) of Eighty-Five Thousand
Dollars ($85,000) (the “Relocation Allowance”), net of applicable payroll taxes, divided into two (2) equal payments
as follows: (i) the first payment shall be made in the first scheduled payroll payment date following the Effective Date; and (ii)
the second payment shall be made in the first scheduled payroll payment date following the three (3) month anniversary date of
the Effective Date (the “Second Payment Date”). Employee expressly agrees and acknowledges that if, within twelve (12)
months of the Second Payment Date, Employee’s employment with the Company terminates for any reason except Good Reason (as
defined in Section 3(d) of this Agreement), Employee shall repay the Relocation Allowance. In addition, the Company shall reimburse
Employee for the actual and customary expenses incurred in moving Employee’s household items to South Florida; provided,
however, that the parties agree that at the Company’s sole discretion the foregoing expenditure shall be billed directly
to the Company.

 

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		f.	Insurance:

The Company shall provide
industry standard Director’s and Officer’s (“D&O”) Insurance during the term of this Agreement at its
sole expense. Employee, if an officer of the Company, shall be named as an insured under the policy. The Company shall enter into
an indemnification agreement (a copy of which has been provided to Employee), whereby Company shall indemnify Employee and agree
to hold Employee harmless, from all covered claims, demands, judgments, assessments, and costs, including attorney or other professional
fees, in excess of the amount of insurance provided and/or which are incurred by application of the retention amount.

		3.	Termination

		a.	At the Expiration of the Term

If the Employee’s
employment with the Company terminates at the end of the Term, the Company shall have no further obligation to the Employee under
this Agreement, except for accrued and unpaid Base Salary and benefits the Employee has accrued pursuant to any applicable welfare
benefit plans provided by the Company, earned but unpaid bonuses and unreimbursed business-related expenses.

		b.	Automatic Termination Due To Death or Disability

If the Employee dies
or suffers any Disability (as such term is hereinafter defined) Employee’s employment pursuant to this Agreement shall automatically
terminate on the date of Employee’s death or Disability, as the case may be. For purposes of this Agreement, the term “Disability”
shall mean the inability of the Employee to perform Employee’s duties, with or without reasonable accommodations, under this
Agreement because of physical or mental illness or incapacity for a period of ninety (90) days in any six (6) month period. For
purposes of this Agreement, the term “Date of Disability” shall be the 90th day of such Disability.

 

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In the event of death
of Employee, the Company shall have no further obligation under this Agreement, except for (1) accrued (through the date of termination)
and unpaid Base Salary, (2) benefits the Employee has accrued pursuant to any applicable welfare benefits plan, earned (through
the date of termination) but unpaid bonuses, and unreimbursed business-related expenses, in accordance with Company policy and
(3) payment for six (6) months of continued participation in the Company’s health benefits for the Employee’s spouse/dependents.
In the event of Disability the Company shall have no further obligation to the Employee under the Agreement, except for (a) accrued
(through the date of termination) and unpaid Base Salary, benefits the Employee has accrued pursuant to any applicable welfare
benefits plan, (b) earned (through the date of termination) but unpaid bonuses, and unreimbursed business-related expenses and
(c) payment for six (6) months of continued participation in the Company’s health benefits for the Employee and Employee’s
spouse/dependents. The Base Salary payment shall be at the rate in effect at the time of death or Disability.

		c.	Termination by the Company Without Cause

The Company may terminate
this Agreement at any time during the Term without Cause. In the event of termination without Cause, the Company shall pay the
Employee six (6) months Base Salary at the rate in effect at the time, in monthly installments and shall pay for continuation of
health benefits for six (6) months. The Employee shall also be paid for accrued (through the date of termination) and unpaid Base
Salary, and benefits which Employee accrued pursuant to any applicable welfare benefits plan, earned but unpaid bonuses, and unreimbursed
business-related expenses, in accordance with Company policy. Furthermore, in the event of a termination without Cause which occurs
in anticipation of a Change in Control (as defined below) or on or within six (6) months after a Change in Control, all equity
awards held by Employee that vest based on time shall become vested and all other terms of such awards shall be governed by the
plans and programs and the agreements and other documents pursuant to which such awards were granted.

 

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For purposes of this Agreement,
a “Change in Control” means the following:

(i)                  
A transaction or series
of transactions (other than an offering of the Company’s stock to the general public through a registration statement filed
with the Securities and Exchange Commission) whereby any “person” or related “group” of “persons”
(as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (other than the Company, any of its subsidiaries, an employee benefit plan maintained by the Company or any of its
subsidiaries or a “person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is
under common control with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3
under the Exchange Act) of securities of the Company and immediately after such acquisition possesses more than 50% of the total
combined voting power of the Company’s securities outstanding immediately after such acquisition; or

(ii)                  
During any period
of two consecutive years, individuals who, at the beginning of such period, constitute the Board together with any new director(s)
(other than a director designated by a person who shall have entered into an agreement with the Company to effect a transaction
described in Section 6.2(i) hereof or Section 6.2(iii) hereof) whose election by the Board or nomination for election by the Company’s
stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the
beginning of the two-year period or whose election or nomination for election was previously so approved, cease for any reason
to constitute a majority thereof; or

 

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(iii)                  
The consummation
by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries)
of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially
all of the Company’s assets in any single transaction or series of related transactions or (z) the acquisition of assets
or stock of another entity, in each case other than a transaction:

(A)                  
Which results in the
Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding
or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly
or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise
succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly,
at least a majority of the combined voting power of the Successor Entity’s outstanding voting securities immediately after
the transaction; and

(B)                  
After which no person
or group (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) beneficially owns (within the meaning of Rule
13d-3 under the Exchange Act) voting securities representing 50% or more of the combined voting power of the Successor Entity;
provided, however, that no person or group shall be treated for purposes of this Section 6.2(iii)(B) as beneficially owning 50%
or more of combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the
consummation of the transaction; or

 

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(iv)                  
The Company’s
stockholders approve a liquidation or dissolution of the Company and all material contingencies to such liquidation or dissolution
have been satisfied or waived.

		d.	Termination by the Employee

The Employee may terminate
this Agreement at any time by providing the Company with sixty (60) days advance written notice, or for Good Reason (as such term
is hereinafter defined) by providing the Company written notice. For the purposes of this Agreement, “Good Reason”
shall mean (i) a material adverse change of Employee’s Job Responsibilities, (ii) a breach by the Company with respect to
(1) its compensation obligations under this Agreement which has not been cured after thirty (30) days written notice by Employee,
or (2) its Notice of Non-Renewal, (iii) a decrease in Employee’s Base Salary not equally applied (on a percentage basis)
to all employees subject to an employment agreement with the Company, or (iv) after Employee’s Relocation, the Company relocates
its South Florida offices to a location more than one hundred (100) miles from its location at the time of Employee’s Relocation.

In the event Employee terminates
this Agreement for Good Reason, Employee shall be entitled to severance in an amount equal to six (6) months Base Salary at the
rate in effect at the time, paid in monthly installments, and payment of health continuation benefits for six (6) months. In addition,
Employee shall be paid accrued (through the date of termination) and unpaid Base Salary and benefits which Employee accrued pursuant
to any applicable welfare benefits plan, earned (through the date of termination) but unpaid bonuses, and unreimbursed business-related
expenses. Furthermore, in the event Employee terminates this Agreement for Good Reason in anticipation of a Change in Control (as
defined above) or on or within six (6) months after a Change in Control, all equity awards held by Employee that vest based on
time shall become vested and all other terms of such awards shall be governed by the plans and programs and the agreements and
other documents pursuant to which such awards were granted.

 

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In the event Employee terminates
this Agreement without Good Reason, the Employee shall only be entitled to payment for accrued (through the date of termination)
and unpaid Base Salary and benefits which Employee accrued pursuant to any applicable welfare benefit plan, earned (through the
date of termination) but unpaid bonuses, and unreimbursed business-related expenses, in accordance with Company policy.

		e.	Termination by the Company for Cause

The Company shall have
the right to immediately terminate the employment of the Employee for Cause (as such term is hereinafter defined), if such termination
is approved by not less than two-thirds of the Board at a meeting of the Board called and held for such purpose, provided the Employee
is given at least five (5) days advance notice of such meeting and is given the opportunity to speak at such meeting. For purposes
of this Agreement, “Cause” shall mean any act or any failure to act on the part of the Employee which constitutes:
(i) the willful, knowing or grossly negligent failure or refusal of the Employee to perform Employee’s duties under
this Agreement or to follow the reasonable directions of the Company’s Chief Executive Officer which has continued for thirty
(30) days following written notice of such failure or refusal from the Board; (ii) a breach by the Employee of any fiduciary duty
to the Company or any of the Company’s subsidiaries for which the Employee is required to perform services under this Agreement;
(iii) material and willful misfeasance or malfeasance by the Employee in connection with the performance of Employee’s duties
under this Agreement; (iv) Employee’s commission of an act which is a fraud or embezzlement; (v) the conviction of the Employee
for, or a plea of guilty or nolo contendere to a criminal act which is a felony; (vi) a material breach or
default by the Employee of any provision of this Agreement which has continued for thirty (30) days following notice of such breach
or default from the Board; (vii) the Employee’s willful and material breach or violation of any law, rule, regulation (other
than traffic violations or similar offenses); or (viii) abuse of drugs or alcohol to the detriment of the Company.

 

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In the event the Employee
is terminated for Cause, the Employee shall only be entitled to payment for accrued (through the date of termination) and unpaid
Base Salary and benefits which Employee accrued pursuant to any applicable welfare benefits plan, earned (through the date of termination)
but unpaid bonuses, and unreimbursed business-related expenses, in accordance with Company policy.

		4.	Discoveries
                                                                                                                        and Works

The Employee understands and
agrees that any and all Confidential Information (as hereinafter defined) of the Company which Employee has access to, uses or
creates during employment with the Company is and shall at all times remain the sole and exclusive property of the Company, and
the Employee further agrees to assign to the Company any right, title or interest Employee may have in such Confidential Information
to the Company. The Employee also agrees that, if Employee is asked by the Company (at its expense), Employee will do all things
and sign all necessary documents reasonably necessary in the opinion of the Company to eliminate any ambiguity as to the right
of the Company in such Confidential Information including but not limited to providing full cooperation to the Company in the event
of any litigation to protect, establish or obtain such rights of the Company.

The Employee understands that
this Section 4 does not waive or transfer Employee’s rights to any invention for which no equipment, supplies, facility or
trade secret or Confidential Information of the Company was used and which was developed entirely on Employee’s own time,
unless the invention relates to the business of the Company, or to the Company's actual demonstratively anticipated research or
development, or the invention results from any work that Employee performed for the Company during the term of Employee’s
employment relationship with the Company.

 

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The Employee hereby assigns
and transfers to the Company, its successors, legal representatives and assigns, Employee’s entire right, title, and interest
in and to any and all present and future works of authorship, inventions, know-how, confidential information, proprietary information,
or trade secrets resulting from work done by him on behalf of the Company (collectively, the “Intellectual Property”).
The Employee agrees to waive all moral rights relating to the Intellectual Property developed or produced, including without limitation
any and all rights of identification of authorship, any and all rights of approval, restriction or limitation on use or subsequent
modifications and any and all rights to prevent any changes prejudicial to Employee’s honor or reputation. The Employee further
agrees to provide all assistance reasonably requested by the Company in the establishment, preservation and enforcement of its
rights in the Intellectual Property, such assistance to be provided at the Company’s expense, but without any additional
compensation to the Employee.

		5.	Confidentiality
                                                                                                                        and Noncompetition
                                                                                                                        Covenants

		a.	Confidentiality

The Employee acknowledges
that, during the course of employment with the Company, the Employee may receive special training and/or may be given access to
or may become acquainted with Confidential Information (as hereinafter defined) of the Company. As used in this Section 5, "Confidential
Information" of the Company means all Intellectual Property Rights not available in the public domain, trade practices, business
plans, price lists, supplier lists, customer lists, marketing plans, financial information, software and all other compilations
of information which relate to the business of the Company, or to any of its subsidiaries, and which have not been disclosed by
the Company to the public, or which are not otherwise generally available to the public.

 

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The Employee acknowledges
that the Confidential Information of the Company, as such may exist from time to time, are valuable, confidential, special and
unique assets of the Company and its subsidiaries, expensive to produce and maintain and essential for the profitable operation
of their respective businesses. The Employee agrees that, during the course of employment with the Company, or at any time thereafter,
Employee shall not, directly or indirectly, communicate, disclose or divulge to any Person (as such term is hereinafter defined),
or use for Employee’s benefit or the benefit of any Person, in any manner, any Confidential Information of the Company or
its subsidiaries acquired during employment with the Company or any other confidential information concerning the conduct and details
of the businesses of the Company and its subsidiaries, except as required in the course of employment with the Company or as otherwise
may be required by law. For purposes if this Agreement, “Person” shall mean any individual, partnership, corporation,
trust, unincorporated association, joint venture, limited liability company or other entity or any government, governmental agency
or political subdivision.

All documents relating to
the businesses of the Company and its affiliates including, without limitation, Confidential Information of the Company, whether
prepared by the Employee or otherwise coming into the Employee's possession, are the exclusive property of the Company and such
respective subsidiaries, and must not be removed from the premises of the Company, except as required in the course of the Employee's
employment with the Company. The Employee shall return all such documents (including any copies thereof) to the Company when the
Employee ceases to be employed by the Company or upon the earlier request of the Company or the Board.

 

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The Employee agrees not to
disclose the terms of this Agreement to any other non-officer employee of the Company without the consent of the Chief Executive
Officer.

		b.	Noncompetition & Non-Solicitation

During the Term of this Agreement
(including any extensions thereof) and for a period of one (1) year following the termination of the Employee's employment under
this Agreement for any reason, the Employee shall not, except with the Company's express prior written consent, directly or indirectly,
in any capacity, for the benefit of any entity or person (including the Employee):

(i)                  
Become employed by, own, operate, manage, direct, invest in (except investment
through a mutual fund or ownership of less than 1% of the securities of a public company in competition with the Business), or
otherwise, directly or indirectly, engage in, or be employed by, any entity or person which competes with the Business (as hereinafter
defined) within the Territory. For purposes of this Agreement, “Business” shall mean the development and/or manufacture,
sale or distribution to the orthopedics market of any image guided surgical device and/or software used in combination with any
surgical robotic device and/or software. For purposes of this Agreement, “Territory” shall mean the United States of
America. 

(ii)                
Solicit, service, divert, take away, or contact any customer, client or employee
of the Company, or any of its subsidiaries, or promote a competing service to any customer, client or employee of the Company,
its subsidiaries or any of its respective businesses.

 

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		6.	Reliance

The Employee acknowledges
that Employee’s compliance with the provisions of Section 5 of this Agreement (hereinafter referred to as the "Restrictive
Covenants") is a material part of the consideration bargained for by the Company under this Agreement. The Employee agrees
that such covenants are reasonable as to scope and duration and agrees to be bound by the provisions of Section 5 of this Agreement
to the maximum extent permitted by law, it being the intent and spirit of the parties to this Agreement that the provisions of
Section 5 of this Agreement shall be enforceable. However, the parties to this Agreement further agree that if any portion of the
Restrictive Covenants or their application is construed to be invalid or unenforceable, then the other portions thereof and their
application shall not be affected thereby and shall be enforceable. If the Restrictive Covenants shall for any reason be held to
be excessively broad as to duration, geographic scope, property, subject or similar factor, then the court making such determination
shall have the power to reduce or limit such duration, geographic scope, property, subject or similar factors so as to be enforceable
to the maximum extent compatible with applicable law, and the Restrictive Covenants shall then be enforceable in its reduced or
limited form.

		7.	Equitable
                                                                                                                                                   Relief
                                                                                                                                                   and
                                                                                                                                                   Enforcement

The Employee further acknowledges
that any breach by him of the Restrictive Covenants will result in irreparable injury to the Company and its affiliates for which
money damages could not adequately compensate the Company or such affiliates. In the event of any such breach (or threatened breach),
the Company shall be entitled, in addition to all other rights and remedies which it may have at law or in equity, to have an injunction
issued by any competent court enjoining and restraining the Employee and all other persons involved therein from continuing such
breach. The Company shall be entitled to such injunction without necessity of posting any bond, but if a bond is nonetheless required
by the court entertaining the motion for the injunction, the parties to this Agreement agree that a bond in the amount of US$1,000
is appropriate. The existence of any claim or cause of action which the Employee or any such other Person may have against the
Company shall not constitute a defense or bar to the enforcement of the Restrictive Covenants.

 

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		8.	Miscellaneous

		a.	Entire Agreement; Amendment; Waivers; Headings

Except as otherwise set forth
herein, this Agreement constitutes the entire agreement between the parties to this Agreement with respect to the subject matter
of this Agreement and supersedes all prior negotiations, understandings, agreements, arrangements and understandings, both oral
and written, between the parties to this Agreement with respect to such subject matter. This Agreement may not be amended or modified
in any respect, except by the mutual written agreement of the parties to this Agreement. The waiver by any of the parties to this
Agreement of any other party's prompt and complete performance, or breach or violation, of any of the provisions of this Agreement
shall not operate nor be construed as a waiver of any subsequent breach or violation, and the waiver by any of the parties to this
Agreement to exercise any right or remedy which it may possess under this Agreement shall not operate nor be construed as a bar
to the exercise of such right or remedy by such party upon the occurrence of any subsequent breach violation. Descriptive headings
contained in this Agreement are for convenience only and shall not control or affect the meaning or construction of any provision
of this Agreement. Notwithstanding anything in this Agreement to the contrary, the provisions of Sections 4, 5, 6 and 7 of
this Agreement shall survive the termination of the Employee's employment under this Agreement, however caused, and the termination
of this Agreement.

 

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		b.	Counterparts

This Agreement may be executed
in any numbers of counterparts (including facsimile copies thereof) and by the separate parties hereto in separate counterparts
(including facsimile copies thereof), each of which shall be deemed to be one and the same instrument.

		c.	Notices

All notices, requests, demands,
instructions, consents or other communications required or permitted to be given under this Agreement shall be in writing and shall
be deemed to have been duly given if and when (a) delivered personally, (b) transmitted by facsimile, prepaid telegram or telex,
(c) mailed by first class certified mail, return receipt requested, postage prepaid, or (d) sent by an internationally recognized
express courier service, postage or delivery charges prepaid, to the parties at (i) for the Company, at 2555 Davie Road, Attn:
Chief Financial Officer, Ft. Lauderdale, FL 33317 and (ii) for Employee, at the address of record on file with the Company’s
human resources department, as provided by Employee from time to time.

		d.	Successors and Assigns

No party hereto shall have
the right to assign this Agreement or any rights or obligations hereunder without the consent of the other parties; provided,
however that this Agreement shall be assignable by the Company, in its sole discretion (a) upon a Change in Control, or (b)
to any affiliate of the Company, without such consent and upon such assignment, shall inure to the benefit of, and be binding upon,
both the Employee and the person or entity purchasing such assets, business or goodwill, or surviving such merger or resulting
from such consolidation, or the successor company, as the case may be, in the same manner and to the same extent as though such
other person or entity or the successor company were the Company. Notwithstanding the foregoing, this Agreement shall be binding
upon and shall inure to the benefit of the parties to this Agreement and their respective personal representatives, heirs, successors
and assigns.

 

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		e.	Applicable Law; Arbitration as Exclusive Remedy

This Agreement shall be governed
by and construed in accordance with the laws of the State of Florida without regard to conflict of laws principles. All controversies
or claims arising out of or relating to Paragraph 1 through 3 of this Agreement shall be resolved by arbitration administered by
the American Arbitration Association under its National Rules for the Resolution of Employment Disputes, except the parties agree
the matter shall be handled by a single arbitrator. The award rendered in any arbitration proceeding under this section shall be
final and binding. Judgment upon the award rendered by the arbitrator(s) may be entered by a court of competent jurisdiction. Any
demand for arbitration must be made and filed within one hundred and eighty (180) days of the date the requesting party knew or
reasonably should have known of the event giving rise to the controversy or claim. Any claim or controversy not submitted to arbitration
in accordance with this section shall be considered waived, and, therefore, no arbitration panel or tribunal or court shall have
the power to rule or make any award on such claims or controversy. The prevailing party in such arbitration proceeding shall be
entitled to recover reasonable expenses, including attorney’s fees and costs.

		f.	Adherence to Legal, Regulatory, Company and Ethical Requirements.

Employee agrees and covenants
that Employee shall at all times conduct himself in full compliance with all legal and ethical regulations and industry guidelines
applicable to Employee’s position with the Company, including, without limitation, all rules, regulations and policies of
the Company, the Securities & Exchange Commission (“SEC”) and NASDAQ stock market, the Health Insurance Portability
and Accountability Act of 1996 (42 U.S.C. 1320d-1329d-8; 42 U.S.C. 1320d-2) (“HIPAA”), the Foreign Corrupt Practices
Act (the “FCPA”) and Advanced Medical Technology Association (“AdvaMed”) Code of Ethics on Interactions
with Health Care Professionals.

 

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MAKO Employment Agreement – I. Dawson

    	 

    	 

    

 

IN WITNESS WHEREOF, THE PARTIES
TO THIS Agreement have placed their hands as of the day and year first above written.

 

 

	By:	/s/ Ian Dawson	 	Dated:	 May 31, 2013
	 	Ian Dawson	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	MAKO SURGICAL CORP.	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	/s/ Maurice R. Ferré, M.D	 	Dated:	May 31, 2013
	 	Maurice R. Ferré, M.D.

President & Chief Executive Officer	 	 	 

 

 

 

 

 

 

 

 

Page 19

 

MAKO Employment Agreement – I. DawsonExhibit 10.3

 

IVAN DELEVIC

FIRST AMENDMENT TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

THIS FIRST AMENDMENT TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Amendment”) is made effective as of May 31, 2013 (the “Effective
Date”), by and between MAKO Surgical Corp., a Delaware corporation (the “Company”), and Ivan Delevic (the “Executive”).

WHEREAS, the Executive is and has
been employed by the Company and is currently the Company’s Senior Vice President of Marketing;

 

WHEREAS, the Company desires
to employ the Executive and the Executive desires to be employed by the Company as the Company’s Senior Vice President of
Corporate Development, on the terms contained herein;

WHEREAS, the Executive and
the Company entered into that certain Amended and Restated Employment Agreement dated as of July 30, 2012 (the “Agreement”);
and

WHEREAS, the Company and
the Executive desire to amend the Agreement as of the Effective Date by entering into this Amendment.

NOW, THEREFORE, in consideration
of the mutual covenants, agreements, representations and warranties contained in the Agreement and this Amendment, the parties
hereby agree as follows:

1.      Section 1 of the Agreement
is deleted and replaced in its entirety by the following:

Employment. Subject
to the termination provisions contained in Sections 4 and 5 hereof, the term of the Agreement shall extend from the Effective Date
until September 30, 2013 (the period during which the Executive is employed hereunder being hereinafter referred to as the “Term”).
If either the Company or the Executive does not wish to renew this Agreement when it expires at the
end of the Term, it or he shall give written notice in accordance with Section 10.4 below of such intent to the other party at
least thirty (30) days prior to the expiration date (a “2013 Non-Renewal”). In the absence of such notice, this Agreement
shall be renewed on the same terms and conditions contained herein for a term of one (1) year from the date of expiration of the
Term, and a if either the Company or the Executive does not wish to renew this Agreement when it expires at the end of the Term,
it or he shall give written notice in accordance with Section 10.4 below of such intent to the other party at least ninety (90)
days prior to the expiration date. The parties expressly agree that designation of a term and renewal provisions in this Agreement
does not in any way limit the right of the parties to terminate this Agreement at any time as hereinafter provided. Reference herein
to the Term of this Agreement shall refer both to the current term and any successive term as the context requires. Notwithstanding
the foregoing, a 2013 Non-Renewal shall be deemed a Termination Without Cause by the Company under Section 5.3 or a Termination
by the Executive for Good Reason under Section 5.4 as the case may be.

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2.      The first sentence
of Section 2 of the Agreement is deleted and replaced in its entirety by the following sentence:

Duties. As of
the Effective Date, the Executive shall no longer serve as the Company’s Senior Vice President of Marketing and shall instead
be employed by the Company as its Senior Vice President of Corporate Development.

3.      Unless otherwise defined
herein, capitalized terms shall have the same meaning as described in the Agreement.

4.      Except as expressly provided
herein, all terms and conditions set forth in the Agreement to which this Amendment applies, shall remain in full force and effect.
In the event of a conflict between this Amendment and the Agreement, this Amendment shall be controlling.

 

5.      This Amendment may be executed
in counterparts, each of which are deemed to be original, but both of which together constitute one and the same instrument. Copies
of signatures sent by facsimile transmission are deemed to be originals for purposes of execution and proof of this Amendment.

 

*  *  *  *  *  *

 

IN WITNESS WHEREOF, the parties
hereto have signed their names as of the day and year first above written.

 

 

	 	MAKO SURGICAL CORP.
	 	 	 
	 	 	 
	 	By:	/s/ Charles W. Federico
	 	Name:  	Charles W. Federico
	 	Title:	Chairman, Compensation Committee
	 	 	 
	 	 	 
	 	/s/ Ivan Delevic
	 	Ivan Delevic
	 	 	 
	 	 	 
	 	 	 

 

 

 

 

 

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