Document:

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                                                                   EXHIBIT 10.6

                  [LMSI LOGO] LEASE MANAGEMENT SERVICES, INC.

                          EQUIPMENT FINANCING AGREEMENT
                                 (Number 10809)

THIS EQUIPMENT FINANCING AGREEMENT NUMBER 10809 ("Agreement") is dated as of the
date set forth at the foot hereof and is between LEASE MANAGEMENT SERVICES,
INC., ("Secured Party") and INTUITIVE SURGICAL, INC., ("Debtor").

1.   EQUIPMENT; SECURITY INTEREST. The terms and conditions of this Agreement
cover each item of machinery, equipment and other property (individually an
"Item" or "Item of Equipment" and collectively the "Equipment") described in a
schedule now or hereafter executed by the parties hereto and made a part hereof
(individually a "Schedule" and collectively the "Schedules"). Debtor hereby
grants Secured Party a security interest in and to all Debtor's right, title and
interest in and to the Equipment under the Uniform Commercial Code, such grant
with respect to an Item of Equipment to be as of Debtor's execution of a related
Equipment Financing Commitment referencing this Agreement or, if Debtor then has
no interest in such Item, as of such subsequent time as Debtor acquires an
interest in the Item. Such security interest is granted by Debtor to secure
performance by Debtor of Debtor's obligations to Secured Party hereunder and
under any other agreements under which Debtor has or may hereafter have
obligations to Secured Party. Debtor will ensure that such security interest
will be and remain a sole and valid first lien security interest subject only to
the lien of current taxes and assessment not in default but only if such taxes
are entitled to priority as a matter of law.

2.   DEBTOR'S OBLIGATIONS. The obligations of Debtor under this Agreement
respecting an Item of Equipment, except the obligation to pay installment
payments with respect thereto which will commence as set forth in Paragraph 3
below, commence upon the grant to Secured Party of a security interest in the
Item. Debtor's obligations hereunder with respect to an Item of Equipment and
Secured Party's security interest therein will continue until payment of all
amounts due, and performance of all terms and conditions required hereunder
provided, however, that if this Agreement is in default said obligations and
security interest will continue during the continuance of said default. Upon
termination of Secured Party's security interest in an Item of Equipment,
Secured Party will execute such release of interest with respect thereto as
Debtor reasonably requests.

3.   INSTALLMENT PAYMENTS AND OTHER PAYMENTS. Debtor will repay advances Secured
Party makes on account of the Equipment in installment payments in the amounts
and at the times set forth in the Schedules, whether or not Secured Party has
rendered an invoice therefor, at the office of Secured Party set forth at the
foot hereof, or to such person and/or at such other place as Secured Party may
from time to time designate by notice to Debtor. Any other amounts required to
be paid Secured Party by Debtor hereunder are due upon Debtor's receipt of
Secured Party's invoice therefor and will be payable as directed in the invoice.
Payments under this Agreement may be applied to Debtor's then accrued
obligations to Secured Party in such order as Secured Party may choose.

4.   NET AGREEMENT; NO OFFSET, SURVIVAL. This Agreement is a net agreement, and
Debtor will not be entitled to any abatement of installment payments or other
payments due hereunder or any reduction thereof under any circumstance or for
any reason whatsoever. Debtor hereby waives any and all existing and future
claims, as offsets, against any installment payments or other payment due
hereunder and agrees to pay the installment payments and other amounts due
hereunder as and when due regardless of any offset or claim which may be
asserted by Debtor or on its behalf. The obligations and liabilities of Debtor
hereunder will survive the termination of the Agreement.

5.   FINANCING AGREEMENT. THIS AGREEMENT IS SOLELY A FINANCING AGREEMENT. DEBTOR
ACKNOWLEDGES THAT THE EQUIPMENT HAS OR WILL HAVE BEEN SELECTED AND ACQUIRED
SOLELY BY DEBTOR FOR DEBTOR'S PURPOSES, THAT SECURED PARTY IS NOT AND WILL NOT
BE THE VENDOR OF ANY

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EQUIPMENT AND THAT SECURED PARTY HAS NOT MADE AND WILL NOT MAKE ANY AGREEMENT,
REPRESENTATION OR WARRANTY WITH RESPECT TO THE MERCHANTABILITY, CONDITION,
QUALIFICATION OR FITNESS FOR A PARTICULAR PURPOSE OR VALUE OF THE EQUIPMENT OR
ANY OTHER MATTER WITH RESPECT THERETO IN ANY RESPECT WHATSOEVER.

6.   NO AGENCY. DEBTOR ACKNOWLEDGES THAT NO AGENT OF THE MANUFACTURER OR OTHER
SUPPLIER OF AN ITEM OF EQUIPMENT OR OF ANY FINANCIAL INTERMEDIARY IN CONNECTION
WITH THIS AGREEMENT IS AN AGENT OF SECURED PARTY. SECURED PARTY IS NOT BOUND BY
A REPRESENTATION OF ANY SUCH PARTY AND, AS CONTEMPLATED IN PARAGRAPH 27 BELOW,
THE ENTIRE AGREEMENT OF SECURED PARTY AND DEBTOR CONCERNING THE FINANCING OF THE
EQUIPMENT IS CONTAINED IN THIS AGREEMENT AS IT MAY BE AMENDED ONLY AS PROVIDED
IN THAT PARAGRAPH.

7.   ACCEPTANCE. Execution by Debtor and Secured Party of a Schedule covering
the Equipment or any Items thereof will conclusively establish that such
Equipment has been included under and will be subject to all the terms and
conditions of this Agreement. If Debtor has not furnished Secured Party with an
executed Schedule by the earlier of fourteen (14) days after receipt thereof or
expiration of the commitment period set forth in the applicable Equipment
Financing Agreement, Secured Party may terminate its obligation to advance funds
as to the applicable Equipment.

8.   LOCATION; INSPECTION; USE. Debtor will keep, or in the case of motor
vehicles, permanently garage and not remove from the United States, as
appropriate, each Item of Equipment in Debtor's possession and control at the
Equipment Location designated in the applicable Schedule, or at such other
location to which such Item may have been moved with the prior written consent
of Secured Party. Whenever requested by Secured Party, Debtor will advise
Secured Party as to the exact location of an Item of Equipment. Secured Party
will have the right to inspect the Equipment and observe its use during normal
business hours, subject to Debtor's security procedures and to enter into and
upon the premises where the Equipment may be located for such purpose. The
Equipment will at all times be used solely for commercial or business purposes
and operated in a careful and proper manner and in compliance with all
applicable laws, ordinances, rules and regulations, all conditions and
requirements of the policy or policies of insurance required to be carried by
Debtor under the terms of this Agreement and all manufacturer's instructions and
warranty requirements. Any modifications or additions to the Equipment required
by any such governmental edict or insurance policy will be promptly made by
Debtor.

9.   ALTERATIONS; SECURITY INTEREST COVERAGE. Without the prior written consent
of Secured Party, Debtor will not make any alterations, additions or
improvements to any Item of Equipment which detract form its economic value or
functional utility, except as may be required pursuant to Paragraph 8 above.
Secured Party's security interest in the Equipment will include all
modifications and additions thereto and replacements and substitutions therefor,
in whole or in part. Such reference to replacements and substitutions will not
grant Debtor greater rights to replace or substitute than are provided in
Paragraph 11 below or as may be allowed upon the prior written consent of
Secured Party.

10.  MAINTENANCE. Debtor will maintain the Equipment in good repair, condition
and working order. Debtor will also cause each Item of Equipment for which a
service contract is generally available to be covered by such a contract which
provides coverages typical to property of the type involved and is issued by a
competent servicing entity.

11.  LOSS AND DAMAGE; CASUALTY VALUE. In the event of the loss of, theft of,
requisition of, damage to or destruction of an Item of Equipment ("Casualty
Occurrence"), Debtor will give Secured Party prompt notice thereof and will
thereafter place such Item in good repair,

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condition and working order, provided, however, that if such Item is determined
by Secured Party to be lost, stolen, destroyed or damaged beyond repair, is
requisitioned or suffers a constructive total loss as defined in any applicable
insurance policy carried by Debtor in accordance with Paragraph 14 below,
Debtor, at Secured Party's option, will (a) replace such Item with like
Equipment in good repair, condition and working order whereupon such replacement
equipment will be deemed such Item for all purposes hereof or (b) pay Secured
Party the "Casualty Value" of such Item which will equal the total of (i) all
installment payments and other amounts due from Debtor to Secured Party at the
time of such payment and (ii) future installment payments due with respect to
such Item with each such payment including any final uneven payment discounted
at a rate equal to the discount rate of the Federal Reserve Bank of San
Francisco from the date due to the date of such payment.

Upon such replacement or payment, as appropriate, this Agreement and Secured
Party's security interest will terminate with, and only with, respect to the
Item of Equipment so replaced or as to which such payment is made in accordance
with Paragraph 2 above.

12.  TITLING; REGISTRATION. Each item of Equipment subject to title registration
laws will at all times be titled and/or registered by Debtor as Secured Party's
agent and attorney-in-fact with full power and authority to register (but
without power to affect title to) the Equipment in such manner and in such
jurisdiction or jurisdictions as Secured Party directs. Debtor will promptly
notify Secured Party of any necessary or advisable retitling and/or registration
of an Item of Equipment in a jurisdiction other than the one in which such Item
is then titled and/or registered. Any and all documents of title will be
furnished or caused to be furnished Secured Party by Debtor within sixty (60)
days of the date any titling or registering or restating or deregistering, as
appropriate, is directed by Secured Party.

13.  TAXES. Debtor will make all filings as to and pay when due all personal
property and other ad valorem taxes and all other taxes, fees, charges and
assessments based on the ownership or use of the Equipment and will pay as
directed by Secured Party or reimburse Secured Party for all other taxes,
including, but not limited to, gross receipt taxes (exclusive of federal and
state taxes based on Secured Party's net income, unless such net income taxes
are in substitution for or relieve Debtor from any taxes which Debtor would
otherwise be obligated to pay under the terms of this Paragraph 13), fees,
charges and assessments whatsoever, however designated, whether based on the
installment payments or other amounts due hereunder, levied, assessed or imposed
upon the Equipment or otherwise related hereto or to the Equipment, now or
hereafter levied, assessed or imposed under the authority of a federal, state,
or local taxing jurisdiction, regardless of when and by whom payable. Filings
with respect to such other amounts will, at Secured Party's option, be made by
Secured Party or by Debtor as directed by Secured Party.

14.  INSURANCE. Debtor will procure and continuously maintain all risk insurance
against loss or damage to the Equipment from any cause whatsoever for not less
than the full replacement value thereof naming Secured Party as Loss Payee. Such
insurance must be in a form and with companies approved by Secured Party, must
provide at least thirty (30) days advance written notice to Secured Party of
cancellation, change or modification in any term, condition, or amount of
protection provided therein, must provide full breach of warranty protection and
must provide that the coverage is "primary coverage" (does not require
contribution from any other applicable coverage). Debtor will provide Secured
Party with an original policy or certificate evidencing such insurance. In the
event of an assignment of this Agreement of which Debtor has notice, Debtor will
cause such insurance to provide the same protection to the assignee as its
interests may appear. The proceeds of such insurance, at the option of the
Secured Party or such assignee, as appropriate, will be applied toward (a)
repair or replacement of the appropriate Item or Items of Equipment, (b) payment
of the Casualty Value thereof and/or (c) payment of, or as provision for,
satisfaction of any other accrued obligations of Debtor hereunder. Debtor hereby
appoints Secured Party as Debtor's attorney-in-fact with full power and
authority to do all things, including, but not limited to, making claims,
receiving payments and endorsing documents, checks or drafts, necessary to
secure payments due under any policy contemplated hereby on account of a
Casualty

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Occurrence. Debtor and Secured Party contemplate that the jurisdictions where
the Equipment will be located will not impose any liability upon Secured Party
for personal injury and/or property damage resulting out of the possession, use,
operation or condition of the Equipment. In the event Secured Party determines
that such is not or may not be the case with respect to a given jurisdiction,
Debtor will provide Secured Party with public liability and property damage
coverage applicable to the Equipment in such amounts and in such form as Secured
Party requires.

15.  SECURED PARTY'S PAYMENT. If Debtor fails to pay any amounts due hereunder
or to perform any of its other obligations under this Agreement, Secured Party
may, at its option, but without any obligation to do so, pay such amounts or
perform such obligations, and Debtor will reimburse Secured Party the amount of
such payment or cost of such performance, plus interest at 1.5% per month.

16.  INDEMNITY. Debtor does hereby assume liability for and does agree to
indemnify, defend, protect, save and keep harmless Secured Party from and
against any and all liabilities, losses, damages, penalties, claims, actions,
suits, costs, expenses and disbursements, including court costs and legal
expenses, of whatever kind and nature, imposed on, incurred by or asserted
against Secured Party (whether or not also indemnified against by any other
person) in any way relating to or arising out of this Agreement or the
manufacture, financing, ownership, delivery, possession, use, operation,
condition or disposition of the Equipment by Secured Party or Debtor, including,
without limitation, any claim alleging latent and other defects, whether or not
discoverable by Secured Party or Debtor, and any other claim arising out of
strict liability in tort, whether or not in either instance relating to an event
occurring while Debtor remains obligated under this Agreement, and any claim for
patent, trademark or copyright infringement. Debtor agrees to give Secured Party
and Secured Party agrees to give Debtor notice of any claim or liability hereby
indemnified against promptly following learning thereof.

17.  DEFAULT. Any of the following will constitute an event of default
hereunder: (a) Debtor's failure to pay when due any installment payment or other
amount due hereunder, which failure continues for ten (10) days after the due
date thereof; (b) Debtor's default in performing any other obligation, term or
condition of this Agreement or any other agreement between Debtor and Secured
Party or default under any further agreement providing security for the
performance by Debtor of its obligations hereunder provided such default has
continued for more than twenty (20) days, except as provided in (c) and (d)
hereinbelow, or, without limiting the generality of subparagraph (l)
hereinbelow, default under any lease or any mortgage or other instrument
contemplating the provision of financial accommodation applicable to the real
property where an Item of Equipment is located; (c) any writ or order of
attachment or execution or other legal process being levied on or charged
against any Item of Equipment and not being released or satisfied within ten
(10) days; (d) Debtor's failure to comply with its obligations under Paragraph
14 above or any transfer by Debtor in violation of Paragraph 21 below; (e) a
non-appealable judgment for the payment of money in excess of $100,000 being
rendered by a court of record against Debtor which Debtor does not discharge or
make provision for discharge in accordance with the terms thereof within ninety
(90) days from the date of entry thereof; (f) death or judicial declaration of
incompetency of Debtor, if an individual; (g) the filing by Debtor of a petition
under the Bankruptcy Code or any amendment thereto or under any other insolvency
law or law providing for the relief of debtors, including, without limitation, a
petition for reorganization, arrangement or extension, or the commission by
Debtor of an act of bankruptcy; (h) the filing against Debtor of any such
petition not dismissed or permanently stayed within thirty (30) days of the
filing thereof; (i) the voluntary or involuntary making of an assignment of
substantial portion of its assets by Debtor for the benefit of creditors,
appointment of a receiver or trustee for Debtor or for any of Debtor's assets,
institution by or against Debtor or any other type of insolvency proceeding
(under the Bankruptcy Code or otherwise) or of any formal or informal proceeding
for dissolution, liquidation, settlement of claims against or winding up of the
affairs of Debtor, Debtor's cessation of business activities or the making by
Debtor of a transfer of all or a material portion of Debtor's assets or
inventory not in the ordinary course of business; (j) the occurrence of any
event described in parts (e), (f), (g), (h) or (i) hereinabove with respect to
any guarantor or

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other party liable for payment or performance of this Agreement; (k) any
certificate, statement, representation, warranty or audit heretofore or
hereafter furnished with respect hereto by or on behalf of Debtor or any
guarantor or other party liable for payment or performance of this Agreement
proving to have been false in any material respect at the time as of which the
facts therein set forth were stated or certified or having omitted any
substantial contingent or unliquidated liability or claim against Debtor or any
such guarantor or other party; (l) breach by Debtor of any lease or other
agreement providing financial accommodation under which Debtor or its property
is bound; or (m) a transfer of effective control of Debtor, if an organization.

18.  REMEDIES. Upon the occurrence of an event of default, Secured Party will
have the rights, options, duties and remedies of a Secured Party, and Debtor
will have the rights and duties of a debtor, under the Uniform Commercial Code
(regardless of whether such Code or a law similar thereto has been enacted in a
jurisdiction wherein the rights or remedies are asserted) and, without limiting
the foregoing, Secured Party may exercise any one or more of the following
remedies: (a) declare the Casualty Value or such lesser amount as may be set by
law immediately due and payable with respect to any or all Items of Equipment
without notice or demand to Debtor; (b) sue from time to time for and recover
all installment payments and other payments then accrued and which accrue during
the pendency of such action with respect to any or all Items of Equipment; (c)
take possession of and, if deemed appropriate, render unusable any or all Items
of Equipment, without demand or notice, wherever same may be located, without
any court order or other process of law and without liability for any damages
occasioned by such taking of possession and remove, keep and store the same or
use and operate or lease the same until sold; (d) require Debtor to assemble any
or all Items of Equipment at the Equipment Location therefor, or at such
location to which such Equipment may have been moved with the written consent of
Secured Party or such other location in reasonable proximity to either of the
foregoing as Secured Party designates; (e) upon ten (10) days notice to Debtor
or such other notice as may be required by law, sell or otherwise dispose of any
Item of Equipment, whether or not in Secured Party's possession, in a
commercially reasonable manner at public or private sale at any place deemed
appropriate and apply the new proceeds of such sale, after deducting all costs
of such sale, including, but not limited to, costs of transportation,
repossession, storage, refurbishing, advertising and brokers' fees, to the
obligations of Debtor to Secured Party hereunder or otherwise, with Debtor
remaining liable for any deficiency and with any excess being returned to
Debtor; (f) upon thirty (30) days notice to Debtor, retain any repossessed or
assembled Items of Equipment as Secured Party's own property in full
satisfaction of Debtor's liability for the installment payments due hereunder
with respect thereto, provided that Debtor will have the right to redeem such
Items by payment in full of its obligations to Secured Party hereunder or
otherwise or to require Secured Party to sell or otherwise dispose of such Items
in the manner set forth in subparagraph (e) hereinabove upon notice to Secured
Party within such thirty (30) day period; or (g) utilize any other remedy
available to Secured Party under the Uniform Commercial Code or similar
provision of law or otherwise at law or in equity.

No right or remedy conferred herein is exclusive of any other right or remedy
conferred herein or by law; but all such remedies are cumulative of every other
right or remedy conferred hereunder or at law or in equity, by statute or
otherwise, and may be exercised concurrently or separately from time to time.
Any sale contemplated by subparagraph (e) of this Paragraph 18 may be adjourned
from time to time by announcement at the time and place appointed for such sale,
or for any such adjourned sale, without further published notice, Secured Party
may bid and become the purchaser at any such sale. Any sale of an Item of
Equipment, whether under said subparagraph or by virtue of judicial proceedings,
will operate to divest all right, title, interest, claim and demand whatsoever;
either at law or in equity, of Debtor in and to said item and will be a
perpetual bar to any claim against such Item, both at law and in equity, against
Debtor and all persons claiming by, through or under Debtor.

19.  DISCONTINUANCE OF REMEDIES. If Secured Party proceeds to enforce any right
under this Agreement and such proceedings are discontinued or abandoned for any
reason or are

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determined adversely, then and in every such case Debtor and Secured Party will
be restored to their former positions and rights hereunder.

20.  SECURED PARTY'S EXPENSES. Debtor will pay Secured Party all costs and
expenses, including attorney's fees and court costs and sales costs not offset
against sales proceeds under Paragraph 18 above, incurred by Secured Party in
exercising any of its rights or remedies hereunder or enforcing any of the
terms, conditions or provisions hereof. This obligation includes the payment or
reimbursement of all such amounts whether an action is ultimately filed and
whether an action is ultimately dismissed.

21.  ASSIGNMENT. Without the prior written consent of Secured Party, Debtor will
not sell, lease, pledge or hypothecate, except as provided in this Agreement,
any Item of Equipment or any interest therein or assign, transfer, pledge, or
hypothecate this Agreement or any interest in this Agreement or permit the
Equipment to be subject to any lien, charge or encumbrance of any nature except
the security interest of Secured Party contemplated hereby. Debtor's interest
herein is not assignable and will not be assigned or transferred by operation of
law. Consent to any of the foregoing prohibited acts applies only in the given
instance and is not a consent to any subsequent like act by Debtor or any other
person.

All rights of Secured Party hereunder may be assigned, pledged, mortgaged,
transferred or otherwise disposed of, either in whole or in part, without notice
to Debtor but always, however, subject to the rights of Debtor under this
Agreement. If Debtor is given notice of any such assignment, Debtor will
acknowledge receipt thereof in writing. In the event Secured Party assigns this
Agreement or the installment payments due or to become due hereunder or any
other interest herein, whether as security for any of its indebtedness or
otherwise, no breach or default by Secured Party hereunder or pursuant to any
other agreement between Secured Party and Debtor, should there be one, will
excuse performance by Debtor of any provision hereof, it being understood that
in the event of such default or breach by Secured Party that Debtor will pursue
any rights on account thereof solely against Secured Party. No such assignee,
unless such assignee agrees in writing, will be obligated to perform any duty,
covenant or condition required to be performed by Secured Party in connection
with this Agreement.

Subject always to the foregoing, this Agreement inures to the benefit of, and is
binding upon, the heirs, legatees, personal representative, successors and
assigns of the parties hereto.

22.  MARKINGS; PERSONAL PROPERTY. If Secured Party supplies Debtor with labels,
plates, decals or other markings stating that Secured Party has an interest in
the Equipment, Debtor will affix and keep the same prominently displayed on the
Equipment or will otherwise mark the Equipment or its then location or
locations, as appropriate, at Secured Party's request to indicate Secured
Party's security interest in the Equipment. The Equipment is, and at all times
will remain, personal property notwithstanding that the Equipment or any Item
thereof may now be, or hereafter become, in any manner affixed or attached to,
or embedded in, or permanently resting upon real property or any improvement
thereof or attached in any manner to what is permanent as by means of cement,
plaster, nails, bolts, screws or otherwise. If requested by Secured Party,
Debtor will obtain and deliver to Secured Party waivers of interest or liens in
recordable form satisfactory to Secured Party from all persons claiming any
interest in the real property on which an Item of Equipment is or is to be
installed or located.

23.  LATE CHARGES. Time is of the essence in this Agreement and if any
Installment Payment is not paid within ten (10) days after the due date thereof,
Secured Party shall have the right to add and collect, and Debtor agrees to pay:
(a) a late charge on and in addition to, such Installment Payment equal to five
percent (5%) of such Installment Payment or a lesser amount if established by
any state or federal statute applicable thereto, and (b) interest on such
Installment Payment from thirty (30) days after the due date until paid at the
highest contract rate enforceable against Debtor under applicable law but never
to exceed eighteen percent (18%) per annum.

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24.  NON-WAIVER.  No covenant or condition of this Agreement can be waived
except by the written consent of Secured Party. Forbearance or indulgence by
Secured Party in regard to any breach hereunder will not constitute a waiver of
the related covenant or condition to be performed by Debtor.

25.  ADDITIONAL DOCUMENTS. In connection with and in order to perfect and
evidence the security interest in the Equipment granted Secured Party hereunder
Debtor will execute and deliver to Secured Party such financing statements and
similar documents as Secured Party requests. Debtor authorizes Secured Party
where permitted by law to make filings of such financing statements without
Debtor's signature. Debtor further will furnish Secured Party (a) on a timely
basis, Debtor's future financial statements, including Debtor's most recent
annual report, balance sheet and income statement, prepared in accordance with
generally accepted accounting principles, which reports, Debtor warrants, shall
fully and fairly represent the true financial condition of Debtor (b) any other
information normally provided by Debtor to the public and (c) such other
financial data or information relative to this Agreement and the Equipment,
including, without limitation, copies of vendor proposals and purchase orders
and agreements, listings of serial numbers or other identification data and
confirmations of such information, as Secured Party may from time to time
reasonably request. Debtor will procure and/or execute, have executed,
acknowledge, have acknowledged, deliver to Secured Party, record and file such
other documents and showings as Secured Party deems necessary or desirable to
protect its interest in and rights under this Agreement and interest in the
Equipment. Debtor will pay as directed by Secured Party or reimburse Secured
Party for all filing, search, title report, legal and other fees incurred by
Secured Party in connection with any documents to be provided by Debtor pursuant
to this Paragraph or Paragraph 22 and any further similar documents Secured
Party may procure.

26.  DEBTOR'S WARRANTIES. Debtor certifies and warrants that the financial data
and other information which Debtor has submitted, or will submit, to Secured
Party in connection with this Agreement is, or will be at time of delivery, as
appropriate, a true and complete statement of the matters therein contained.
Debtor further certifies and warrants: (a) this Agreement has been duly
authorized by Debtor and when executed and delivered by the person signing on
behalf of Debtor below will constitute the legal, valid and binding obligation,
contract and agreement of Debtor enforceable against Debtor in accordance with
its respective terms; (b) this Agreement and each and every showing provided by
or on behalf of Debtor in connection herewith may be relied upon by Secured
Party in accordance with the terms thereof notwithstanding the failure of Debtor
or other applicable party to ensure proper attestation thereto, whether by
absence of a seal or acknowledgement or otherwise; (c) Debtor has the right,
power and authority to grant a security interest in the Equipment to Secured
Party for the uses and purposes herein set forth and (d) each Item of Equipment
will, at the time such Item becomes subject hereto, be in good repair, condition
and working order.

27.  ADDITIONAL SECURITY. As additional security to secure the performance of
the Debtor's obligations under this Agreement and the Schedules hereto, Debtor
grants to the Secured Party a security interest in all of its fixed assets,
including, but not limited to, lab, test, computer and office equipment and
modifications and additions thereto and replacements and substitutions therefor
and the proceeds thereof including insurance proceeds, now owned or hereafter
acquired between the date of this Agreement and the later of (a) January 31,
1998 or (b) the expiration of the funding period under the credit approval dated
February 14, 1997 (collectively, the "Additional Equipment").

The Debtor shall have all of the obligations with respect to the Additional
Equipment as it has with respect to the Equipment as set forth in this
Agreement.

28.  ENTIRE AGREEMENT.  This instrument with exhibits and related documentation
constitutes the entire agreement between Secured Party and Debtor and will not
be amended, altered or changed except by a written agreement signed by the
parties.

29.  NOTICES. Notices under this Agreement must be in writing and must be mailed
by United States mail, certified mail with return receipt requested, duly
addressed, with postage prepaid, to the party involved at its respective address
set forth at the foot hereof or at such other address as each party may provide
on notice to the other from time to time. Notices will be effective when
deposited. Each party will promptly notify the other of any change in that
party's address.

30.  GENDER, NUMBER: JOINT AND SEVERAL LIABILITY. Whenever the context of this
Agreement requires, the neuter gender includes the feminine or masculine and the
singular number includes the plural; and whenever the words "Secured Party" are
used herein, they include all assignees of Secured Party, it being understood
that specific reference to "assignee" in Paragraph 14 above is for further
emphasis. If there is more than one Debtor named in this Agreement, the
liability of each will be joint and several.

31.  TITLES.  The titles to the Paragraphs of this Agreement are solely for the
convenience of the parties and are not an aid in the interpretation of the
instrument.

32.  GOVERNING LAW; VENUE. This Agreement will be governed by and construed in
accordance with the laws of the State of California. Venue for any action
related to the Agreement will be in an appropriate court in San Mateo County,
California, to which Debtor consents, or in another court selected by Secured
Party which has jurisdiction over the parties. In the event any provision hereof
is declared invalid, such provision will be deemed severable from the remaining
provisions of this Agreement, which will remain in full force and effect.

33.  TIME. Time is of the essence of this Agreement and for each and all of its
provisions.

In WITNESS WHEREOF, the undersigned have executed this Agreement as of 4/2,
1997.

DEBTOR:
INTUITIVE SURGICAL, INC.
1340 W. Middlefield Road
Mountain View, CA
94043

By: /s/ W.H. Abbott
    -----------------------
Title:  Consultant

SECURED PARTY:
LEASE MANAGEMENT SERVICES, INC.
2500 Sand Hill Road, Suite 101
Menlo Park, CA  94025

By: /s/ Barbara B. Kaiser
    ------------------------

Title:  EVP/General Manager

<PAGE>   8

             ADDENDUM TO EQUIPMENT FINANCING AGREEMENT NUMBER #10809
                                     BETWEEN
                       INTUITIVE SURGICAL, INC. ("DEBTOR")
                                       AND
                LEASE MANAGEMENT SERVICES, INC. ("SECURED PARTY")

The printed form of Equipment Financing Agreement #10809 between the parties
dated April 2, 1997 is amended as follows:

1.   In Section 1, line 11 before the word "agreement" insert "equipment lease
or equipment financing."

2.   In Section 4, line 3, before "Debtor" insert  "To the extent not prohibited
by law."

3.   In Section 7, change "fourteen (14) days" to "thirty (30) days" in the
second sentence.

4.   In Section 8, line 5, after the first occurrence of "Secured Party." insert
", except that Secured Party's consent shall not be required when Debtor's
principle place of business is relocated within the continental United States.
Debtor shall give Secured Party thirty (30) days advance written notice of
Debtor's intent to relocate an Item of Equipment within the continental United
States. If Debtor is in default as defined in Section 17 herein, Debtor may not
relocate an Item of Equipment without the prior written consent of Secured
Party, such consent shall not be unreasonably withheld."

5.   In Section 8, line 6, before the second occurrence of "Secured Party."
insert "Upon Prior reasonable notice,".

6.   In Section 8, line 9, after "commercial" insert ",research and
development."

7.   In Section 10, line 2, after "also" insert "either."

8.   At the end of Section 10, after "entity" insert "or provide comparable
maintenance and repair services."

9.   In Section 11, line 7, after the word "below" insert "Secured Party shall
first consult with Debtor and then.", and in line 13, replace "the Federal
Reserve Bank of San Francisco" with nine percent (9%)."

                                       1.
<PAGE>   9

10.  Section 14, delete section in its entirety and replace with "14. INSURANCE
Debtor will procure and continuously maintain insurance against loss (other than
by reason of war, acts of God, riot, earthquake, flood or the like) or damage to
the Equipment from any reasonable risk whatsoever for not less than the full
replacement value thereof naming Secured Party as Loss Payee as its interest may
appear. Such insurance must be in a form and with companies reasonably approved
by Secured Party, must provide at least thirty (10) days advance written notice
to Secured Party of cancellation, change or modification in any term, condition,
or amount of protection provided therein, must provide full breach of warranty
protection and must provide that the coverage is "primary coverage" (does not
require contribution from any other applicable coverage). Debtor will provide
Secured Party with an original policy or certificate evidencing such insurance.
In the event of an assignment of this Agreement of which Debtor has notice,
Debtor will cause such insurance to provide the same protection to the assignee
as its interest may appear. The proceeds of such insurance, at the option of the
Secured Party or such assignee (after consultation with Debtor), as appropriate,
will be applied toward (a) repair or replacement of the appropriate Item or
items of Equipment (b) payment of the Casualty Value thereof and/or (c) payment
of, or as provision for, satisfaction of any other accrued obligations of Debtor
hereunder. Debtor hereby appoints Secured Party as Debtor's attorney-in-fact
will full power and authority, if an Event of Default has occurred and is
continuing, to do all things, including, but not limited to, making claims,
receiving payments and endorsing documents, checks or drafts, necessary to
secure payments due under any policy contemplated hereby on account of a
Casualty Occurrence. Debtor and Secured Party contemplate that the jurisdictions
where the Equipment will be located will not impose any liability upon Secured
Party for personal injury and/or property damage resulting out of the
possession, use, operation or condition of the Equipment. In the event Secured
Party determines that such is not or may not be the case with respect to a given
jurisdiction, Debtor will provide Secured Party with public liability and
property damage coverage applicable to the Equipment in such amounts and in such
form as Secured Party reasonably requires, PROVIDED, HOWEVER, that public
liability insurance with primary limits of $1,000,000 per occurrence with an
excess policy of $2,000,000, shall be deemed to satisfy this requirement."

11.  Section 15, at the beginning of the section insert "Subject to Section 23
below,".

12.  Section 16, line 4, after the phrase "kind and nature" insert, ", except
any of the foregoing resulting from Secured Party's gross negligence or willful
misconduct,".

13.  In Section 17(h), change "thirty (30) days" to "sixty (60) days."

14.  In Section 17(i), at the end of the clause insert ", except for the
purposes of a change in Debtor's state of incorporation."

15.  Section 17(k), at the end of the clause insert "in excess of $50,000 per
item or in the aggregate."

                                       2.
<PAGE>   10

16.  In Section 17(k), after the words "or having" insert "knowingly."

17.  In Section 17(m), insert "subject to Section 21," at the beginning of the
clause.

18.  Section 17(l), delete the section and replace it with "breach, in excess of
$50,000 per item or in the aggregate, by Debtor of any lease or other agreement
providing financial accommodation under which Debtor or its property is bound,
which breach is not cured or with respect to which no provision has been made to
cure within twenty (20) days;".

19.  Section 18, line 1, insert the following in front of the beginning of the
first sentence of the section: "Except as provided otherwise in this Agreement
(as amended by this Addendum)."

20.  In Section 18, (e) change "ten (10) days" to "fifteen (15) days."

21.  In Section 18, second paragraph, line 4, after "Any" insert "lawful."

22.  In Section 19, line 2, delete "or are determined adversely."

23.  Section 20, line 1, insert "reasonable" between "all" and "cost."

24.  Section 20, line 2, "reasonable" between "including" and "attorney's."

25.  Section 20, line 6, after "dismissed" insert ", provided that the cost and
expenses were incurred in the good faith exercise of Secured Party's rights and
remedies hereunder."

26.  Section 21, line 4, after "Agreement" insert "(except in each such case,
for purposes of changing Debtor's state of incorporation)."

27.  Section 21, line 5, before "Debtor's" insert "Except as provided in the
previous sentence."

28.  Section 24, line 1, after "condition" insert "to be performed by Debtor."

29.  Section 25, line 4, insert "reasonably" before "requests."

30.  Section 25, line 17, insert "reasonable" between "report," and "legal" and
between "other" and "fees."

31.  Section 25(b), after "other" insert "financial."

32.  Section 25, line 15, delete "or desirable."

                                       3.
<PAGE>   11

33.  Section 25(c), delete the last sentence and replace it with "Debtor will
pay as directed by Secured Party or reimburse Secured Party for all Uniform
Commercial Code filings by Secured Party against Debtor and all search reports
conducted with respect to the debtor."

34.  Section 27 append after last sentence to first paragraph "Notwithstanding
the foregoing, in no event shall Secured Party have any right or interests in
any intellectual property incorporated, associated or related to the Additional
Equipment."

35.  Section 29, line 5, after "effective" replace "when" with "upon the earlier
of receipt or three days after."

36.  Section 32, line 4, after "Secured Party" insert", to which Debtor
consents."

IN WITNESS WHEREOF, the undersigned have executed this Addendum this 2nd day of
April, 1997.

DEBTOR                                  SECURED PARTY:

INTUITIVE SURGICAL, INC.                LEASE MANAGEMENT SERVICES, INC.

By:  /s/ W.H. Abbott                    By: /s/ Barbara B. Kaiser
     --------------------------         -------------------------
Title:  Consultant                      Title:   EVP/GM

                                       4.
<PAGE>   12

[LMSI LOGO] LEASE MANAGEMENT SERVICES, INC.

                                   ADDENDUM TO

                          EQUIPMENT FINANCING AGREEMENT

                                  NUMBER 10809

                                 BY AND BETWEEN

                       INTUITIVE SURGICAL, INC., AS DEBTOR

                                       AND

                LEASE MANAGEMENT SERVICES, INC., AS SECURED PARTY

INTUITIVE SURGICAL, INC., as Debtor, hereby acknowledges its responsibility to
pay, and agrees to pay any taxes which may be due to the State of California or
where applicable, for the collateral covered under the above referenced
agreement.

DEBTOR:
INTUITIVE SURGICAL, INC.

By: /s/ W.H. Abbott

Title: Consultant

Date:  4/2/97
<PAGE>   13
                         LEASE MANAGEMENT SERVICES, INC.

                                 SCHEDULE 02 TO
                   EQUIPMENT FINANCING AGREEMENT NUMBER 10809
                                     BETWEEN
                       INTUITIVE SURGICAL, INC., AS DEBTOR
                                       AND
                LEASE MANAGEMENT SERVICES, INC., AS SECURED PARTY

ATTACHED TO AND MADE A PART OF EQUIPMENT FINANCING AGREEMENT NUMBER 10809, BY
AND BETWEEN SECURED PARTY AND DEBTOR ("AGREEMENT") WHICH IS INCORPORATED HEREIN
BY THIS REFERENCE. SECURED PARTY AND DEBTOR HEREBY ACKNOWLEDGE THAT THE ITEMS OF
EQUIPMENT DESCRIBED IN THIS SCHEDULE ARE COVERED BY THE AGREEMENT AND THAT THE
FOLLOWING IS A DESCRIPTION OF SAID ITEMS, THE ADVANCE AMOUNT ON ACCOUNT THEREOF,
THE INSTALLMENT PAYMENTS APPLICABLE THERETO, THE EQUIPMENT LOCATION THEREOF,
AND, IF SPECIFIED, CERTAIN FURTHER RELATED INFORMATION.

1.  EQUIPMENT DESCRIPTION:                     See attached Exhibit "A"

2.  PROCEEDS AMOUNT:                           $643,873.48

3.  INSTALLMENT PAYMENTS:                      Except as otherwise provided in
                                               the agreement or in this
                                               Schedule, the undersigned Debtor
                                               promises to repay the Advance
                                               Amount, with interest as follows:

$16,857.00 per month due on the first day of each month for Forty-Two (42)
consecutive months,  beginning on February 1, 1998, followed by a payment of
$96,581.00 on August 1, 2001.

4.  EQUIPMENT LOCATION:                     1340 W. Middlefield Road
                                            Mountain View, CA  94043
5.  OTHER PROVISIONS:                       N/A

Dated: 2/6/98
      ----------------------------

DEBTOR:                                     SECURED PARTY:
INTUITIVE SURGICAL, INC.                    LEASE MANAGEMENT SERVICES, INC.

By: /s/ LONNIE M. SMITH                     By: /s/ BARBARA B. KAISER
   --------------------------------             --------------------------------
                                                Barbara B. Kaiser

Title: CFO                                  Title: EVP/General Manager
      -----------------------------                -----------------------------<PAGE>   1
                                                                  EXHIBIT 10.7

--------------------------------------------------------------------------------
HELLER FINANCIAL

                               SECURITY AGREEMENT

        THIS SECURITY AGREEMENT ("Agreement") is entered into as of the 20 day
of May, 1999, by and between INTUITIVE SURGICAL, INC., a Delaware corporation
("Debtor"), whose business address is 1340 W. Middlefield Rd., Mountain View, CA
94043 and HELLER FINANCIAL LEASING, INC., a Delaware corporation ("Secured
Party"), whose address is Commercial Equipment Finance Division, 500 West Monroe
Street, Chicago, Illinois 60661.

                                   WITNESSETH:

1. Secure Payment. To secure payment of indebtedness in the principal sum of up
to One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) as
evidenced by a note or notes executed and delivered by Debtor to Secured Party
(the "Notes") and any obligations arising under this Agreement, and also to
secure any other indebtedness or liability of Debtor to Secured Party, direct or
indirect, absolute or contingent, due or to become due, now existing or
hereafter arising and no matter how acquired by Secured Party, including all
future advances or loans which may be made at the option of Secured Party (all
the foregoing hereinafter called the "Indebtedness"), Debtor hereby grants and
conveys to Secured Party a first priority continuing lien and security interest
in the personal property described on any schedule(s) now or hereafter attached
to or made a part hereof by reference hereto (the "Schedules"), all products and
proceeds (including insurance proceeds) thereof, if any, and all substitutions,
replacements, attachments, additions, and accessions thereto (all of the
foregoing hereinafter called the "Collateral.") The Schedules may be
supplemented from time to time to evidence the Collateral subject to this
Agreement.

Debtor shall request in writing each advance of principal under the Notes, which
request shall be satisfactory to Secured Party in form and substance. Each
advance shall be on and subject to the terms and conditions set forth in this
Agreement and shall otherwise be at Secured Party's sole discretion. Amounts
advanced and repaid may not be reborrowed.

2. Representations, Warranties and Covenants. Except as otherwise provided, each
representation and warranty made by Debtor in this

                                       1
<PAGE>   2

Agreement shall be true, correct and complete as of the date of this Agreement
and as of the date of each advance of funds under a Note. Debtor hereby
represents, warrants and covenants as follows:

        (a) Perform Obligations. Debtor shall pay as and when due all
Indebtedness secured by this Agreement and perform all of the obligations
contained in this Agreement according to its terms. Debtor shall use the loan
proceeds for business uses and not for personal, family, household, or
agricultural uses.

        (b) Perfection. This Agreement and all necessary Uniform Commercial Code
filings together create a valid, perfected and first priority continuing lien
and security interest in the Collateral, securing the payment and performance of
the Indebtedness, and all filings and other actions necessary or desirable to
create, perfect and protect such security interest have been or will be duly
taken.

        (c) Collateral Free and Clear. Except as may be set forth on a Schedule,
the Collateral is and shall remain free and clear of all liens, claims, charges,
encumbrances and other security interests of any kind (other than the security
interest granted hereby). Debtor shall defend the title to the Collateral
against all persons and against all claims and demands whatsoever.

        (d) Possession and Operating Order of the Collateral. Debtor shall
retain possession of the Collateral at all times and shall not sell, exchange,
assign, loan, deliver, lease, mortgage, or otherwise dispose of the Collateral
or any part thereof without the prior written consent of Secured Party. Debtor
shall at all times keep the Collateral at the location[s] specified on the
Schedules (except for removals thereof in the usual course of business for
temporary periods). At Debtor's sole cost and expense, Debtor shall keep the
Collateral in good repair and condition and shall not misuse, abuse, waste or
otherwise allow it to deteriorate, except for normal wear and tear. Secured
Party may verify any Collateral in any reasonable manner which Secured Party may
consider appropriate, and Debtor shall furnish all reasonable assistance and
information and perform any acts which Secured Party may reasonably request in
connection therewith.

        (e) Insurance. Debtor shall insure the Collateral against loss by fire
(including extended coverage), theft and other hazards, for its full insurable
value including replacement costs, with a deductible not to exceed Fifty
Thousand and 00/100 Dollars ($50,000.00) per occurrence and without
co-insurance. In addition, Debtor shall obtain liability insurance covering
liability for bodily injury, including death and property damage, in an

                                       2
<PAGE>   3

amount of at least Five Million and 00/100 Dollars ($5,000,000.00) per
occurrence or such greater amount as may comply with general industry standards,
or in such other amounts as Secured Party may otherwise require. All policies of
insurance required hereunder shall be in such form, amounts, and with such
companies as Secured Party may approve; shall provide for at least thirty (30)
days prior written notice to Secured Party prior to any modification or
cancellation thereof; shall name Secured Party as loss payee or additional
insured, as applicable, and shall be payable to Debtor and Secured Party as
their interests may appear; shall waive any claim for premium against Secured
Party; and shall provide that no breach of warranty or representation or act or
omission of Debtor shall terminate, limit or affect the insurers' liability to
Secured Party. Certificates of insurance or policies evidencing the insurance
required hereunder along with satisfactory proof of the payment of the premiums
therefor shall be delivered to Secured Party. Debtor shall give immediate
written notice to Secured Party and to insurers of loss or damage to the
Collateral and shall promptly file proofs of loss with insurers. Debtor hereby
irrevocably appoints Secured Party as Debtor's attorney-in-fact, coupled with an
interest, for the purpose of obtaining, adjusting and canceling any such
insurance and endorsing settlement drafts. Debtor hereby assigns to Secured
Party, as additional security for the Indebtedness, all sums which may become
payable under such insurance.

        In the event Debtor fails to provide Secured Party with evidence of the
insurance coverage required by this Agreement, Secured Party may purchase
insurance at Debtor's expense to protect Secured Party's interests in the
Collateral. This insurance may, but need not, protect Debtor's interests. The
coverage purchased by Secured Party may not pay any claim made by Debtor or any
claim that is made against Debtor in connection with the Collateral. Debtor may
later cancel any insurance purchased by Secured Party, but only after providing
Secured Party with evidence that Debtor has obtained insurance as required by
this Agreement. If Secured Party purchases insurance for the Collateral, Debtor
will be responsible for the costs of that insurance, including interest and
other charges imposed by Secured Party in connection with the placement of the
insurance, until the effective date of the cancellation or expiration of the
insurance. The costs of the insurance may be added to the Indebtedness. The
costs of the insurance may be more than the cost of insurance Debtor is able to
obtain on its own.

        (f) If Collateral Attaches to Real Estate. If the Collateral or any part
thereof has been attached to or is to be attached to real estate, an accurate
description of the real estate and the name and address of the record owner is
set forth on the Schedules. Debtor shall, on demand of Secured Party, furnish
Secured Party with a disclaimer or waiver of any interest in any such

                                       3
<PAGE>   4

Collateral satisfactory to Secured Party and signed by all persons having an
interest in the real estate. Notwithstanding the foregoing, the Collateral shall
remain personal property and shall not be affixed to realty without the prior
written consent of Secured Party.

        (g) Financial Statements. Debtor shall furnish to Secured Party, as soon
as practicable, and in any event within thirty (30) days after the end of each
fiscal month Debtor's unaudited financial statements including in each instance,
balance sheets, income statements, and statements of cash flow, on a
consolidated and consolidating basis, as appropriate, and separate profit and
loss statements as of and for the quarterly period then ended and for the
respective person's fiscal year to date, prepared in accordance with generally
accepted accounting principles, consistently applied ("GAAP"). Debtor shall also
furnish to Secured Party, as soon as practicable, and in any event within one
hundred twenty (120) days after the end of each fiscal year, Debtor's annual
audited financial statements, including balance sheets, income statements and
statements of cash flow for the fiscal year then ended, on a consolidated and
consolidating basis, as appropriate, which have been prepared by its independent
accountants in accordance with GAAP. Such audited financial statements shall be
accompanied by the independent accountant's opinion, which opinion shall be in
form generally recognized as "unqualified".

        (h) Authorization. Debtor is now, and will at all times remain, duly
licensed, qualified to do business and in good standing in every jurisdiction
where failure to be so licensed or qualified and in good standing would have a
material adverse effect on its business, properties or assets. The execution and
delivery of this Agreement, the Notes and any other documents and instruments
executed contemporaneously with or delivered pursuant to this Agreement and the
Notes, all as amended from time to time (collectively the "Loan Documents"),
have been duly authorized by Debtor and constitute the legal, valid, and binding
obligations of Debtor, enforceable against Debtor in accordance with their
respective terms. Debtor shall preserve and maintain its existence and shall not
wind up its affairs or otherwise dissolve. Debtor shall not, without thirty (30)
days prior written notice to Secured Party, (1) change its name or so change its
structure such that any financing statement or other record notice becomes
misleading or (2) change its principal place of business or chief executive or
accounting offices from the address stated herein.

        (i) Litigation. Except as disclosed by Debtor on a Schedule, there are
no judgments outstanding against or affecting Debtor, its officers, directors or
affiliates or any part of the Collateral and there are no actions, charges,
claims, demands, suits, proceedings, or investigations pending or threatened

                                       4
<PAGE>   5

against Debtor or otherwise affecting any part of the Collateral ("Litigation").
Debtor shall furnish to Secured Party all information regarding any material
Litigation as Secured Party shall reasonably request and in any event shall
promptly notify Secured Party in writing of any Litigation against it which if
decided against it would materially and adversely affect the finances or
operations of Debtor. For the purposes of this subsection 2(i), Five Hundred
Thousand and 00/100 Dollars ($500,000.00) shall be deemed material.

        (j) No Conflicts. Debtor is not in violation of any material term or
provision of its by-laws, or of any material agreement or instrument, decree,
order, or any statute, rule, or governmental regulation applicable to it. The
execution, delivery, and performance of the Loan Documents do not and will not
violate, constitute a default under, or otherwise conflict with any such term or
provision or result in the creation of any security interest, lien, charge, or
encumbrance upon any of the properties or assets of Debtor, except for the
security interest created hereunder.

        (k) Compliance with Laws. Debtor shall use and maintain the Collateral
in accordance with all applicable laws, regulations, ordinances, and codes and
shall otherwise comply in all material respects with all applicable laws, rules,
and regulations and duly observe all valid requirements of all governmental
authorities, and all statutes, rules and regulations relating to its business as
now in effect and which may be imposed in the future.

        (l) Taxes. Debtor has timely filed all tax returns (federal, state,
local, and foreign) required to be filed by it and has paid or established
reserves for all taxes, assessments, fees, and other governmental charges in
respect of its properties, assets, income and franchises. Debtor shall promptly
file, pay and discharge all taxes, assessments, license fees (related to the
Collateral) and other governmental charges prior to the date on which penalties
are attached thereto, establish adequate reserves for the payments of such
taxes, assessments, and other governmental charges and make all required
withholding and other tax deposits, and, upon request, provide Secured Party
with receipts or other proof that any or all of such taxes, assessments, license
fees or governmental charges have been paid in a timely fashion; provided,
however, that nothing contained herein shall require the payment of any tax,
assessment, or other governmental charge so long as its validity is being
diligently contested in good faith and by appropriate proceedings diligently
conducted and Debtor has established cash reserves therefor in accordance with
GAAP. Should any stamp, excise, or other tax, including mortgage, conveyance,
deed, intangible, or recording taxes become payable in connection with or
respect of any of the Loan Documents, Debtor shall pay the same (including
interest and penalties, if any) and shall hold Secured Party harmless with
respect thereto.

                                       5
<PAGE>   6

        (m) Environmental Laws/Compliance. Except as disclosed by Debtor on a
Schedule, Debtor (1) has not received any claim, summons, complaint, order, or
other notice that it is not in compliance with, or that any public authority is
investigating its compliance with, any federal, state, and local laws, rules,
regulations, orders, and decrees relating to pollution, hazardous substances,
waste, disposal or the protection of human health or safety, plant life or
animal life, natural resources or the environment, all as amended from time to
time (collectively, "Environmental Laws"), (2) has no knowledge of any material
violation of any Environmental Laws on or about its assets or property, and (3)
is not under any current clean up or other remediation program or order. Debtor
has obtained all environmental, health and safety permits necessary for the
operation of Debtor's business. Debtor is and shall remain in compliance, in all
respects, with the terms and conditions of all permits and with all applicable
Environmental Laws. Debtor shall provide Secured Party, promptly following
receipt, copies of any correspondence, notice, complaint, order, or other
document that it receives asserting or alleging a circumstance or condition
which requires or may require a cleanup, removal, remedial action or other
response by or on the part of Debtor under any Environmental Laws, or which
seeks damages or civil, criminal or punitive penalties from Debtor for an
alleged violation of any Environmental Laws. Debtor will promptly notify Secured
Party of any release, spill or material change in the nature or extent of any
hazardous substances or contaminants used, transported or stored by Debtor or
any subsidiary of Debtor, and allow no material change in the use thereof or of
Debtor's operations that would increase in any material amount the risk of
violation of any Environmental Laws without the express prior written approval
of Secured Party.

        (n) Regulations. No proceeds of the loans or any other financial
accommodation hereunder will be used, directly or indirectly, for the purpose of
purchasing or carrying any margin security, as that term is defined in
Regulations G, T, U, X of the Board of Governors of the Federal Reserve System.

        (o) Books and Records. Debtor shall maintain, at all times, true and
complete books and records in accordance with GAAP and consistent with those
applied in the preparation of Debtor's financial statements. At all reasonable
times, upon reasonable notice, and during normal business hours, Debtor shall
permit Secured Party or its agents to audit, examine and make extracts from or
copies of any of its books, ledgers, reports, correspondence, and other records
relating to the Collateral.

                                       6
<PAGE>   7

        (p) Setoff. Without limiting any other right of Secured Party, whenever
Secured Party has the right to declare any Indebtedness to be immediately due
and payable (whether or not it has so declared), Secured Party is hereby
authorized at any time and from time to time to the fullest extent permitted by
law, but shall not be obligated to, set off and apply against any and all
Indebtedness, any and all monies then or thereafter owed to Debtor by Secured
Party, whether or not the obligation to pay such monies owed by Secured Party is
then due. An election by Secured Party to exercise its right of setoff shall be
effective immediately upon such election even though any charge therefor is made
or entered on Secured Party's records subsequent thereto.

        (q) Standard of Care; Notice of Claims. Debtor acknowledges and agrees
that Secured Party shall not be liable for any acts or omissions nor for any
error of judgment or mistake of fact or law other than as a sole and direct
result of Secured Party's gross negligence or willful misconduct. Debtor shall
give Secured Party written notice of any action or inaction by Secured Party or
any agent or attorney of Secured Party that may give rise to a claim against
Secured Party or any agent or attorney of Secured Party or that may be a defense
to payment of the Indebtedness or performance hereunder for any reason,
including commission of a tort (subject, in any event, to the first sentence of
this paragraph) or violation of any contractual duty or duty implied by law.
Debtor agrees that unless such notice is fully given as promptly as possible
(and in any event within thirty (30) days) after Debtor has knowledge, or with
the exercise of reasonable diligence should have had knowledge, of any such
action or inaction, Debtor shall not assert, and Debtor shall be deemed to have
waived, any claim or defense arising therefrom.

        (r) Indemnity. Debtor shall indemnify, defend and hold Secured Party,
its parent, affiliates, officers, directors, agents, employees, consultants,
persons engaged by Secured Party to evaluate or monitor the Collateral, auditors
and attorneys harmless from and against any loss, cost, expense (including
reasonable attorneys' fees and costs and any consultants' or other experts' fees
and expenses), damage, penalty, fine, claim, lien, suit, judgment or liability
of every kind and nature arising directly or indirectly out of (i) any Loan
Document, (ii) the ownership, possession, lease, operation, use, condition,
sale, return, or other disposition of the Collateral, except to the extent the
loss, expense, damage or liability arises solely and directly from Secured
Party's gross negligence or willful misconduct, (iii) any Environmental Laws,
and (iv) the enforcement by Secured Party of its rights or remedies hereunder.
Any payments required to be made hereunder shall be due and payable on demand.

                                       7
<PAGE>   8

        (s) Payments Set Aside. If any payment is made to Secured Party or
Secured Party enforces its security interest or exercises its right of set off,
and such payment or part, or any proceeds of such enforcement or set off are
subsequently invalidated, declared to be fraudulent or preferential, set aside
and/or required to be repaid to a trustee, receiver or any other party under any
bankruptcy law, state or federal law, common law or equitable cause, then to the
extent of such recovery, the Indebtedness or part thereof originally intended to
be satisfied, and all liens, security interests, rights and remedies therefor,
shall be revived and continued in full force and effect as if such payment had
not been made or such enforcement or set off had not occurred.

        (t) Expenses and Attorneys' Fees. Debtor shall be liable for all
charges, costs, expenses and attorneys' fees incurred by Secured Party
(including allocated costs of internal counsel): (i) in perfecting, defending,
protecting or terminating its security interest in the Collateral, or any part
thereof; (ii) in the negotiation, execution, delivery, administration, amendment
or enforcement of the Loan Documents or the collection of any amounts due under
any Note or other Loan Document; (iii) in any lawsuit or other legal proceeding
in any way connected with any of the Loan Documents, including any contract or
tort or other actions, any arbitration or other alternative dispute resolution
proceeding, all appeals and judgment enforcement actions and any bankruptcy
proceeding (including any relief from stay and/or adequate protection motions,
cash collateral disputes, assumption/rejection motions and disputes or
objections to any proposed disclosure statement or reorganization plan).

        (u) Complete Information. No representation or warranty made by Debtor
in any Loan Document and no other document or statement now or hereafter
furnished to Secured Party by or on behalf of Debtor contains or will contain
any misstatement of a material fact or omit to state any material fact which
would make the statements contained therein misleading. Except as expressly set
forth in the Schedules, there is no fact known to Debtor that has or could have
a materially adverse affect on the business, operation, condition (financial or
otherwise), performance, properties or prospects of Debtor or Debtor's ability
to timely pay all of the Indebtedness and perform all of its other obligations
contained in or secured by this Agreement.

        (v) Collateral Documentation. Debtor shall deliver to Secured Party
prior to any advance, satisfactory documentation regarding the Collateral to be
financed, including such invoices, canceled checks evidencing payments, or other
documentation as may be reasonably requested by Secured Party. Additionally,
Debtor shall satisfy Secured Party that Debtor's business and

                                       8
<PAGE>   9

financial information is as has been represented and there has been no material
change in Debtor's business, financial condition, or operations.

        (w) Year 2000 Compliance. Debtor has made an assessment of the microchip
and computer-based systems and the software used in its business and based upon
such assessment believes that it will be "Year 2000 Compliant" by January 1,
2000. For purposes of this paragraph, "Year 2000 Compliant" means that all
software, embedded microchips and other processing capabilities utilized by, and
material to the business operations or financial condition of, Debtor are able
to interpret, store, transmit, receive and manipulate data on and involving all
calendar dates correctly and without causing any abnormal ending scenarios in
relation to dates in and after the Year 2000. From time to time, at the request
of Secured Party, Debtor shall provide to Secured Party such updated information
as is requested regarding the status of its efforts to become Year 2000
Compliant.

        3. Prepayment. Upon forty-five (45) days prior written notice to Secured
Party, Debtor may prepay in whole, but not in part, the then entire unpaid
principal balance of any Note, together with all accrued and unpaid interest
thereon to the date of such prepayment, provided that in addition to such
prepayment, Debtor shall pay (i) any and all other sums then due under any of
the Loan Documents, and (ii) a prepayment fee as liquidated damages and not as a
penalty, in a sum equal to one percent (1%) of the principal balance prepaid for
each full or partial twelve (12) month period by which the date of the
prepayment precedes the scheduled date of the final installment of principal
under the Note. The prepayment fee described in clause (ii) above shall also be
due upon the acceleration of the maturity date of any Note following the
occurrence of any Event of Default.

        4. Events of Default. If any one of the following events (each of which
is herein called an "Event of Default") shall occur: (a) Debtor fails to pay any
part of the Indebtedness within ten (10) calendar days of its due date, or (b)
any warranty or representation of Debtor in any Loan Document is materially
untrue, misleading or inaccurate, or (c) Debtor breaches or defaults in the
performance of any other agreement or covenant under any Loan Document, or (d)
Debtor breaches or defaults in the payment or performance of any debt or other
obligation owed by it to Secured Party or any affiliate of Secured Party, and
Secured Party has (without being obligated to do so) declared such event, an
Event of Default hereunder, or (e) Debtor breaches or defaults in the payment or
performance of any debt or other obligation, whether now or hereafter existing,
with an outstanding principal balance in excess of One Million and 00/100
Dollars ($1,000,000.00), and the same is subsequently accelerated, or (f) there
shall be a change in the beneficial ownership and control, directly or
indirectly, of the majority of the

                                       9
<PAGE>   10

outstanding voting securities or other interests entitled (without regard to the
occurrence of any contingency) to elect or appoint members of the board of
directors or other managing body of Debtor (a "change of control"), or there is
any merger, consolidation, dissolution, liquidation, winding up or sale or other
transfer of all or substantially all of the assets of Debtor pursuant to which
there is a change of control or cessation of Debtor or the business of Debtor,
or (g) any money judgment is entered or filed against Debtor in excess of One
Million and 00/100 Dollars ($1,000,000.00), or (h) Debtor shall file a voluntary
petition in bankruptcy, shall apply for or permit the appointment by consent or
acquiescence of a receiver, conservator, administrator, custodian or trustee for
itself or all or a substantial part of its property, shall make an assignment
for the benefit of creditors or shall be unable, fail or admit in writing its
inability to pay its debts generally as such debts become due, or (i) there
shall have been filed against Debtor an involuntary petition in bankruptcy or
Debtor shall suffer or permit the involuntary appointment of a receiver,
conservator, administrator, custodian or trustee for all or a substantial part
of its property or the issuance of a warrant of attachment, diligence, execution
or similar process against all or any substantial part of its property; unless,
in each case, such petition, appointment or process is fully bonded against,
vacated or dismissed within forty-five (45) days from its effective date, but no
later than ten (10) days prior to any proposed disposition of any assets
pursuant to any such proceeding, or (j) if there is a material adverse change in
the business or financial condition or prospects of Debtor or (k) if any of the
events or circumstances described on the attached Exhibit A, which is hereby
incorporated herein, shall occur or exist, then, and in any such event, Secured
Party shall have the right to exercise any one or more of the remedies
hereinafter provided.

        5. Remedies. Upon the occurrence of an Event of Default, in addition to
all rights and remedies of a secured party under the Uniform Commercial Code,
Secured Party may, at its option, at any time (a) declare the Indebtedness to be
immediately due and payable; (b) without demand or legal process, enter the
premises where the Collateral may be found and take possession of and remove the
Collateral, all without charge to or liability on the part of Secured Party; or
(c) require Debtor to assemble the Collateral, render it unusable, and crate,
pack, ship, and deliver the Collateral to Secured Party in such manner and at
such place as Secured Party may require, all at Debtor's sole cost and expense.
DEBTOR HEREBY EXPRESSLY WAIVES ITS RIGHTS, IF ANY, TO (1) PRIOR NOTICE OF
REPOSSESSION AND (2) A JUDICIAL OR ADMINISTRATIVE HEARING PRIOR TO SUCH
REPOSSESSION. Secured Party may, at its option, ship, store and repair the
Collateral so removed and sell any or all of the Collateral at a public or
private sale or sales. Unless the Collateral is perishable or threatens to
decline speedily in

                                       10
<PAGE>   11

value or is of a type customarily sold on a recognized market, Secured Party
will give Debtor reasonable notice of the time and place of any public sale
thereof or of the time after which any private sale or any other intended
disposition thereof is to be made, it being understood and agreed that Secured
Party may be a buyer at any such sale and Debtor may not, either directly or
indirectly, be a buyer at any such sale. The requirements, if any, for
reasonable notice will be met if such notice is mailed postage prepaid to Debtor
at its address shown above, at least five (5) days before the time of sale or
disposition. After any such sale or disposition, Debtor shall be liable for any
deficiency of the Indebtedness remaining unpaid, with interest thereon at the
rate set forth in the related Notes.

        6. Cumulative Remedies/Marshaling. All remedies of Secured Party
hereunder are cumulative, are in addition to any other remedies provided for by
law or in equity, or under any other provision of any of the Loan Documents, or
under the provisions of any other document, instrument or other writing executed
by Debtor or any third party in favor of Secured Party, all of which may, to the
extent permitted by law, be exercised concurrently or separately, and the
exercise of any one remedy shall not be deemed an election of such remedy or to
preclude the exercise of any other remedy. No failure on the part of Secured
Party to exercise, and no delay in exercising any right or remedy, shall operate
as a waiver thereof or in any way modify or be deemed to modify the terms of
this Agreement or any other Loan Document or the Indebtedness, nor shall any
single or partial exercise by Secured Party of any right or remedy preclude any
other or further exercise of the same or any other right or remedy. Secured
Party shall not be under any obligation to marshal any assets in favor of Debtor
or any other person or against or in payment of any or all of the Indebtedness.

        7. Assignment. Secured Party may transfer or assign all or any part of
the Indebtedness and the Loan Documents without releasing Debtor or the
Collateral, and upon such transfer or assignment the assignee or holder shall be
entitled to all the rights, powers, privileges and remedies of Secured Party to
the extent assigned or transferred. The obligations of Debtor shall not be
subject, as against any such assignee or transferee, to any defense, set-off, or
counter-claim available to Debtor against Secured Party and any such defense,
set-off, or counter-claim may be asserted only against Secured Party.

        8. Time is of the Essence. Time and manner of performance by Debtor of
its duties and obligations under the Loan Documents is of the essence. If Debtor
shall fail to comply with any provision of any of the Loan Documents, Secured
Party shall have the right, but shall not be obligated, to take action to
address such non-compliance, in whole or in part, and all moneys spent and
expenses and obligations incurred or assumed by Secured Party shall be

                                       11
<PAGE>   12

paid by Debtor upon demand and shall be added to the Indebtedness. Any such
action by Secured Party shall not constitute a waiver of Debtor's default.

        9. ENFORCEMENT. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF ILLINOIS,
WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. AT SECURED PARTY'S ELECTION
AND WITHOUT LIMITING SECURED PARTY'S RIGHT TO COMMENCE AN ACTION IN ANY OTHER
JURISDICTION, DEBTOR HEREBY SUBMITS TO THE EXCLUSIVE JURISDICTION AND VENUE OF
ANY COURT (FEDERAL, STATE OR LOCAL) HAVING SITUS WITHIN THE STATE OF ILLINOIS,
EXPRESSLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO SERVICE BY
CERTIFIED MAIL, POSTAGE PREPAID, DIRECTED TO THE LAST KNOWN ADDRESS OF DEBTOR,
WHICH SERVICE SHALL BE DEEMED COMPLETED WITHIN TEN (10) DAYS AFTER THE DATE OF
MAILING THEREOF.

        10. Further Assurance; Notice. Debtor shall, at its expense, execute and
deliver such documents and do such further acts as Secured Party may from time
to time reasonably require to assure and confirm the rights created or intended
to be created hereunder, to carry out the intention or facilitate the
performance of the terms of the Loan Documents or to assure the validity,
perfection, priority or enforceability of any security interest created
hereunder. Debtor agrees to execute any instrument or instruments necessary or
expedient for filing, recording, perfecting, notifying, foreclosing, and/or
liquidating of Secured Party's interest in the Collateral upon request of, and
as determined by, Secured Party, and Debtor hereby specifically authorizes
Secured Party to prepare and file Uniform Commercial Code financing statements
and other documents and to execute same for and on behalf of Debtor as Debtor's
attorney-in-fact, irrevocably and coupled with an interest, for such purposes.
All notices, required or otherwise given by either party shall be in writing and
shall be delivered by hand, by registered or certified first class United States
mail, return receipt requested, or by overnight courier to the other party at
its address stated herein or at such other address as the other party may from
time to time designate by written notice. All notices shall be deemed given when
received, when delivery is refused or when returned for failure to be called
for. Each provision of this Agreement shall remain in full force and effect
until all of the Indebtedness is fully, finally and indefeasibly satisfied and,
notwithstanding anything in this Agreement or implied by law to the contrary,
the agreements of Debtor and Secured Party set forth in Sections 2(p), 2(r),
2(s), 2(t), 9 and 12 shall survive the full, final and indefeasible satisfaction
of the Indebtedness.

        11. Joint and Several Obligation. If this Agreement is executed by more
than one person as Debtor, each such Debtor hereby acknowledges it is jointly
and severally liable for and unconditionally guarantees the prompt

                                       12
<PAGE>   13

and full payment and performance of all obligations of each other Debtor
hereunder and under the other Loan Documents.

12. WAIVER OF JURY TRIAL. DEBTOR AND SECURED PARTY HEREBY WAIVE THEIR RESPECTIVE
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING IN
CONNECTION WITH ANY OF THE LOAN DOCUMENTS. DEBTOR AND SECURED PARTY ACKNOWLEDGE
THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP,
THAT EACH HAS ALREADY RELIED ON THE WAIVER IN ENTERING INTO THE LOAN DOCUMENTS,
AND THAT EACH WILL CONTINUE TO RELY ON THE WAIVER IN THEIR RELATED FUTURE
DEALINGS. DEBTOR AND SECURED PARTY FURTHER WARRANT AND REPRESENT THAT EACH HAS
REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT EACH KNOWINGLY AND
VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL
COUNSEL.

        13. Complete Agreement. The Loan Documents embody the entire agreement
among the parties hereto superseding all prior commitments, agreements,
representations, and understandings, whether written or oral relating to the
subject matter hereof, and may not be contradicted or varied by evidence of
prior, contemporaneous, or subsequent oral agreements or discussions of the
parties hereto. The Loan Documents may not be altered, modified or terminated in
any manner except by a writing duly signed by the parties thereto. Debtor and
Secured Party intend the Loan Documents to be valid and binding and no
provisions hereof and thereof which may be deemed unenforceable shall in any way
invalidate any other provisions of the Loan Documents, all of which shall remain
in full force and effect. The Loan Documents shall be binding upon the
respective successors, legal representatives, and assign, s of the parties. The
Schedules are incorporated herein by this reference and made a part hereof.

        IN WITNESS WHEREOF, Secured Party and Debtor have each signed this
Agreement as of the day and year first above written.

HELLER FINANCIAL LEASING, INC.,           INTUITIVE SURGICAL, INC.
a Delaware corporation                    a Delaware corporation

By:     /s/  Clifford A. Lehman           By:    /s/  Susan Barnes
   --------------------------------          ----------------------------------

Name:   Clifford A. Lehman                Name:  Susan Barnes
     ------------------------------            --------------------------------

Title:  Senior Vice President             Title: CFO & Assistant Secretary
      -----------------------------             -------------------------------

                                       13
<PAGE>   14

                                    SCHEDULE

                            DESCRIPTION OF COLLATERAL

Description of Collateral (Full description including make, model and serial
number):

        SEE SCHEDULE A ATTACHED HERETO AND MADE A PART HEREOF

Place where Collateral is to be kept:

        INTUITIVE SURGICAL, INC.
        1340 WEST MIDDLEFIELD ROAD
        MOUNTAIN VIEW, CA 94043

Other liens, encumbrances or security interests to which Collateral is or may be
subject, if any:

        NONE.

Other Collateral

        NONE.

Other:

If Collateral is attached or to be attached to real estate, set forth:

Address of Real Estate (Including County, block number, lot number, etc.):

        N/A

Record Owner of Real Estate (Name and Address):

        N/A

If the real estate at which the Collateral is to be kept is leased:

Name and Address of Lessor of Real Estate:

        N/A

     SB
-------------
Initials

                                       14
<PAGE>   15

<PAGE>   16

                                    EXHIBIT A

                                       TO

                               SECURITY AGREEMENT

                         (ADDITIONAL EVENTS OF DEFAULT)

        The following shall constitute Events of Default under the Security
Agreement between Secured Party and Debtor, and upon its occurrence, Secured
Party shall have the right to exercise any one or more of the remedies provided
in the Security Agreement:

1. At any time (i) Debtor's net income before interest expense, income taxes,
depreciation, amortization and extraordinary gains, as determined in accordance
with GAAP ("EBITDA") as at the end of the most recent fiscal quarter of Debtor,
is less than $2,500,000, and (ii) Debtor's cash and cash equivalents on hand,
net of funded debt, is less than $10,000,000, and (iii) within thirty (30) days
thereof, Debtor fails to provide Secured Party a cash security deposit (on terms
satisfactory to Secured Party in its reasonable discretion) or stand-by letter
of credit in form and substance and issued by a financial institution acceptable
to Secured Party, in its reasonable discretion. (Secured Party agrees to review
(in its sole discretion) any request from Debtor to release any pledged amounts
or letter of credit provided by Debtor if Debtor's EBITDA exceeds $2,500,000 in
any two consecutive fiscal quarters or Debtor's cash and cash equivalents on
hand, net of funded debt, is more than $10,000,000.)

2. At any time Debtor's right to use any intellectual property licensed or
otherwise provided to Debtor by International Business Machines, Inc. or
Stanford Research Institute, or any successor thereto, shall be amended on
material adverse terms or cease, whether by termination, expiration or
cancellation or otherwise.

                                       SB

                                       15
<PAGE>   17

                                   SCHEDULE A
                                   PAGE 1 OF 1

Schedule annexed to and made a part of a certain Security Agreement dated the
20th day of May, 1999, or related documentation by and between the undersigned.

Description of Collateral (Quantity; New/Used; Model; General Description; and
if applicable, Engine and/or Serial Number), together with all products and
proceeds (including insurance proceeds) thereof, any, and if all increases,
substitutions, replacements, attachments, additions, and accessions thereto:

EQUIPMENT LOCATION: 1340 Middlefield Road, Mountain View, CA 94043

<TABLE>
<CAPTION>

    Qty.       General Description                                  Serial Number
-------------  ---------------------------------------------------  -------------------------------
<S>            <C>                                                  <C>
     5         Intuitive Surgical Development Surgical Systems      D1-10298, D2-10391, D3-10393,
                                                                    D4-10453, D5-10457
------------- ---------------------------------------------------   -------------------------------
</TABLE>

HELLER FINANCIAL LEASING, INC.,            INTUITIVE SURGICAL, INC.
Secured Party                              Debtor

By:     /s/ Clifford A. Lehman             By:    /s/ Susan Barnes
   ---------------------------------          ---------------------------------

Name:   Clifford A. Lehman                 Name:  Susan Barnes
     -------------------------------            -------------------------------

Title:  Senior Vice President              Title: CFO and Assistant Secretary
      ------------------------------             ------------------------------

                                       16
<PAGE>   18

                                                                Loan No: 1910193

                                 FIRST AMENDMENT
                                       TO
                               SECURITY AGREEMENT

1. Parties and Date. This First Amendment to Security Agreement (the
"Amendment") is entered into effective as of September 23, 1999, by and between
INTUITIVE SURGICAL, INC., a Delaware corporation ("Debtor"), and HELLER
FINANCIAL LEASING, INC., a Delaware corporation ("Secured Party").

2. Facts. Debtor and Secured Party have entered into a certain Security
Agreement dated May 20, 1999 (the "Security Agreement"). Debtor has requested
and Secured Party has agreed that the Security Agreement be amended on the terms
and conditions set forth in this Amendment. Capitalized terms used herein and
not otherwise defined shall have the meaning given to such terms in the Security
Agreement. Therefore, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows.

3. Amendment to Security Agreement. Debtor and Secured Party hereby agree that
the Security Agreement shall be and hereby is amended, as follows:

        (i)   The amount of One Million Five Hundred Thousand and 00/100 Dollars
              ($1,500,000.00) set forth in the second line of the first
              paragraph of Section 1 of the Security Agreement is hereby deleted
              and in place thereof is inserted the amount of Two Million Five
              Hundred Thousand and 00/100 ($2,500,000.00);

        (ii)  Addition of Collateral. Debtor hereby grants to Secured Party a
              valid and continuing first priority security interest in the
              equipment described on the attached Schedule A-2, which is hereby
              incorporated herein by this reference (the "New Collateral"), and
              Debtor and Secured Party agree that the New Collateral shall be
              covered by the Agreement as if the New Collateral were described
              on Schedule A to the Security Agreement dated May 20, 1999. Debtor
              shall, at its expense, do, execute and deliver such further acts
              and documents as Secured Party may from time to time reasonably
              require to assure and confirm the rights created or intended to be
              created hereunder and under the Agreement to carry out the
              intention or facilitate the performance of the terms of this
              Amendment, the Agreement and the Loan Documents (as defined in the
              Agreement) or to assure the validity, perfection, priority or
              enforceability of any title created thereunder. Debtor agrees to
              execute any instrument or instruments necessary or expedient for
              filing, recording, perfecting, notifying, foreclosing, and/or
              liquidating of Secured Party's title the equipment (including the
              New Collateral) upon request of, and as determined by Secured
              Party.

                                       17
<PAGE>   19

6. Acknowledgments, Ratifications and Reaffirmations by Debtor. Debtor hereby
acknowledges, ratifies and reaffirms that (i) as of the date hereof no Event of
Default has occurred or exists, (ii) Debtor has no defense, offset or
counterclaim to any of Debtor's obligations under the Loan Documents, and (iii)
the Notes, Security Agreement (as amended by this Amendment) and other Loan
Documents are in full force and effect and are fully enforceable against Debtor
in accordance with their respective terms.

7. Effectiveness of Loan Documents. Except as expressly amended by this
Amendment, the Security Agreement, as well as the Notes and all of the other
Loan Documents shall remain in full force and effect.

8. Entire Agreement. The parties acknowledge and agree that there are no other
agreements or representations, either oral or written, express or implied, in
connection with the Loans, that are not embodied in this Amendment, the Notes,
the Security Agreement and the other Loan Documents, which, together represent a
complete integration of all prior and contemporaneous agreements and
understandings of Debtor and Secured Party in any way related to the Loans. The
Security Agreement (as amended by this Amendment) may not be altered, modified
or terminated in any manner except by a writing duly executed by Debtor and
Secured Party. If any provision of the Security Agreement (as amended by this
Amendment) is held to be invalid or unenforceable, the remaining provisions
shall remain in effect without impairment.

IN WITNESS WHEREOF, Debtor and Secured Party have each executed this Agreement
to be effective as of the day and year first above written.

"DEBTOR"                                     "SECURED PARTY"

INTUITIVE SURGICAL, INC.,                    HELLER FINANCIAL LEASING, INC., a
a Delaware corporation                       Delaware corporation

By:     /s/ Susan Barnes                     By:    /s/ Clifford A. Lehman
   -------------------------------              --------------------------------

Name:                                        Name:  Clifford A. Lehman
     -----------------------------                ------------------------------

Title:                                       Title: Senior Vice President
      ----------------------------                 -----------------------------

                                       18
<PAGE>   20

                                  SCHEDULE A-2
                                   PAGE 1 OF 9

Schedule annexed to and made a part of a certain First Amendment to Security
Agreement, dated the _________ day of September, 1999, to that certain Security
Agreement No. 1910193, dated the 20th day of May, 1999, or related documentation
by and between the undersigned.

Description of Collateral:

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>                             <C>                             <C>
                                                                LAB EQUIPMENT:
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
Newark Electronics                                              AMP Handtool Kit
-------------------------------------------------------------------------------------------------
X-Ray Connection                505                             Lifepak 6S w/internal paddles
-------------------------------------------------------------------------------------------------
VWR Scientific                  23105581, 23105590, 25524720    Utrasonic Pipette Cleaner
-------------------------------------------------------------------------------------------------
Test Equity                     17038                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     17038                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     17038                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     17038                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     17038                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     17038                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     17038                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     17038                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     16140                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     16140                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Test Equity                     25889                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
International Light             56582                           Radiometer-4798
-------------------------------------------------------------------------------------------------
Alpha Marketing Services        00983951                        Bookler Laproscopic Holder
-------------------------------------------------------------------------------------------------
Alpha Marketing Services        983918                          Bookler Laproscopic Holder
-------------------------------------------------------------------------------------------------
Genzyme Surgical Products       98055106                        Retractor, 80mm ang
-------------------------------------------------------------------------------------------------
Genzyme Surgical Products       98060953                        Retractor, 80mm ang
-------------------------------------------------------------------------------------------------
Heartport                       IN5519                          Forceps, 25 Degree
-------------------------------------------------------------------------------------------------
Heartport                       IN5519                          Forceps, Str, Dbl Act
-------------------------------------------------------------------------------------------------
McMaster-Carr                   5881613                         Precision Drill Press, Belt Drive
-------------------------------------------------------------------------------------------------
Momentum Data Systems, Inc.     912216                          ADSP-2181x EZ-ICE
-------------------------------------------------------------------------------------------------
Premier Vet Supply              289015                          Vaporizer VIP 3000
-------------------------------------------------------------------------------------------------
Tektronix                       MP417105, MP416556              Current Probe and Calibrator
-------------------------------------------------------------------------------------------------
Premier Vet Supply              288619                          Anesthesia Machine
-------------------------------------------------------------------------------------------------
Digital and Analog Concepts     042299                          7506660 Sentry 50
-------------------------------------------------------------------------------------------------
Momentum Data Systems, Inc.     912269                          In Circuit Emulator
-------------------------------------------------------------------------------------------------
VWR Scientific Products         46015440                        Over, Hafo, Medium
-------------------------------------------------------------------------------------------------
Mountz, Inc.                    INV123064                       M10-Ultra Torq Analyzer 110V
-------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>   21

                                  SCHEDULE A-2
                                   PAGE 2 OF 9

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>                             <C>                             <C>

-------------------------------------------------------------------------------------------------
Mountz, Inc.                    INV127062                       S-320Z Torque Analyzer U.S. vers.
-------------------------------------------------------------------------------------------------
Ceibo                           98013162                        Circuit Emulator Development Sys.
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
                                                                MANUF. EQUIPMENT:
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
Steven Engineering              193826-00                       Panduit Pneum Crimper
-------------------------------------------------------------------------------------------------
Servicor                        34353                           Cleanroom Upgrades
-------------------------------------------------------------------------------------------------
Gardner Associates              227138                          MPC Control Digital Dispenser
-------------------------------------------------------------------------------------------------
Danco Machine                   I-44937                         Inverse Clevis Align Swager Assy
-------------------------------------------------------------------------------------------------
Danco Machine                   I-45014                         Dist, Inv Fixture
-------------------------------------------------------------------------------------------------
Computer Modules, Inc.          21183                           Cable Matrox
-------------------------------------------------------------------------------------------------
Test Equity                     23670                           Xantrex Power Supply
-------------------------------------------------------------------------------------------------
Servicor                        34390                           Cleanroom Upgrades
-------------------------------------------------------------------------------------------------
Intermec                        1320059                         Decoded Wired Wedge
-------------------------------------------------------------------------------------------------
Intermec                        1320059                         Decoded Wired Wedge
-------------------------------------------------------------------------------------------------
Intermec                        1320059                         Decoded Wired Wedge
-------------------------------------------------------------------------------------------------
Intermec                        1320059                         Decoded Wired Wedge
-------------------------------------------------------------------------------------------------
ArrK Product Development        6704702-DA                      Part #311092/311884
-------------------------------------------------------------------------------------------------
Bracker Corporation             53310                           Custom Riveting Fixture
-------------------------------------------------------------------------------------------------
Quadravox                       8889                            Power Supply #QV402P
-------------------------------------------------------------------------------------------------
Ronnigen R&D                    060544                          Engineering Change Samples
-------------------------------------------------------------------------------------------------
Van Drielen Machine             81015.1                         Body, 7075 aluminum
-------------------------------------------------------------------------------------------------
Bracker Corporation             52735                           Bracker Radial Riveter
-------------------------------------------------------------------------------------------------
Thermal Technologies            0010131-IN                      Machining Fixture
-------------------------------------------------------------------------------------------------
Nexlogic Technologies           4478                            6 Layers Fabrication-720225-01
-------------------------------------------------------------------------------------------------
Danco Machine                   I-45218                         Base Plate, Cube, Carrier
-------------------------------------------------------------------------------------------------
Almar Manufacturing & Eng       013443                          Base Plate, Bearing Press, SUJ
-------------------------------------------------------------------------------------------------
Westcor c/o Taarcom             128478                          Power Supply-PM1-02-514
-------------------------------------------------------------------------------------------------
Nextlogic Technologies          4513                            6 Layer Fabrication #720255/NRE
-------------------------------------------------------------------------------------------------
Acme Scale Co.                  0987957-IN                      Torque Gauge w/Sensor
-------------------------------------------------------------------------------------------------
Ronnigen R&D                    061838                          Engineering Change
-------------------------------------------------------------------------------------------------
Steven Engineering              283064-00                       Panduit Cimpring Tool
-------------------------------------------------------------------------------------------------
Steven Engineering              193826-00                       Panduit Pneum Crimper
-------------------------------------------------------------------------------------------------
Precision Interconnect          438061                          Eng change for new crimp contacts
-------------------------------------------------------------------------------------------------
National Instruments            517157                          DAQPAD for USB Cable
-------------------------------------------------------------------------------------------------
Danco Machine                   I-44238                         Dance Part 720195
-------------------------------------------------------------------------------------------------
Danco Machine                   I-44238                         720157 Assy
-------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>   22

                                  SCHEDULE A-2
                                   PAGE 3 OF 9

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>                             <C>                             <C>

-------------------------------------------------------------------------------------------------
White Mountain DSP              3264                            MTN-ICE JTAG EMU & POD
-------------------------------------------------------------------------------------------------
White Mountain DSP              3264                            MTN-ICE JTAG EMU & POD
-------------------------------------------------------------------------------------------------
Ronningen R&D                   060039                          Eng. Change for Chassis
-------------------------------------------------------------------------------------------------
Foam Molders & Specialties      00095600                        Single Cav Mold M1298-502
-------------------------------------------------------------------------------------------------
Acme Scale Co.                  0989844-IN                      Motorized Test Stand
-------------------------------------------------------------------------------------------------
Danco Machine                   1-43305                         Dance Part #720132-720134
-------------------------------------------------------------------------------------------------
Dependable Plastics             DEP09-02                        Cover Tooling
-------------------------------------------------------------------------------------------------
Dependable Plastics             21077                           Cover Tooling
-------------------------------------------------------------------------------------------------
Bay Area Shelving, Inc.         49264                           Rivetier Shelf
-------------------------------------------------------------------------------------------------
Axiom Medical, Inc.             0523911-IN                      Mold Part #330179 & 330183
-------------------------------------------------------------------------------------------------
Ronningen R&D                   62153                           Eng Change part #340000-07
-------------------------------------------------------------------------------------------------
Data I/O                        207024                          Optima S120/S207L
-------------------------------------------------------------------------------------------------
Bracker Corporation             52379/prepayment                Bracker Radial Riveter
-------------------------------------------------------------------------------------------------
General Foundry                 08778                           Cover Base/Top Link ECM
-------------------------------------------------------------------------------------------------
Thermal Technology              0010089-IN                      Production Mold
-------------------------------------------------------------------------------------------------
Thermal Technology, Inc.        0010146, 0010112                Production Mold for part #330000
-------------------------------------------------------------------------------------------------
Dependable Plastics             DEP09-01                        Cover Tooling
-------------------------------------------------------------------------------------------------
General Foundry                 08697                           Footpad, console
-------------------------------------------------------------------------------------------------
Thermal Technology, Inc.        0010170/0010126                 Tooling for part #330122-05
-------------------------------------------------------------------------------------------------
Thermal Technology, Inc.        0010169-IN                      Production Mold for part #330001
-------------------------------------------------------------------------------------------------
Thermal Technology              0010088-IN                      Production Mold
-------------------------------------------------------------------------------------------------
Dependable Plastics             21108                           Cover Tooling
-------------------------------------------------------------------------------------------------
Thermal Technology              0010078-IN                      Production Mold
-------------------------------------------------------------------------------------------------
Thermal Technology, Inc.        0010147-IN                      Production Mold for part #330133
-------------------------------------------------------------------------------------------------
Precision Tool Distributors     204775                          Ram Sprint 200, Z-Axis scale
-------------------------------------------------------------------------------------------------
General Foundry                 08779                           Link Vertical/Base ECM
-------------------------------------------------------------------------------------------------
Freetech Plastics               31293                           Cover HRSV Mold
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
                                                                COMP. EQUIPMENT
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051535                          17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051535                          17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46466                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46466                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46466                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48373                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48373                           17" Color Monitor
-------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>   23

                                  SCHEDULE A-2
                                   PAGE 4 OF 9

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>                             <C>                             <C>

-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48373                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48373                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48370                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48370                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48370                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48370                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48370                           17" Color Monitor
-------------------------------------------------------------------------------------------------
Octave Systems Inc.                                             Yamaha CDR400T
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            050797                          Laserjet 6PXI 8 PPM
-------------------------------------------------------------------------------------------------
Fry's Electronics                                               HP C3980A Laserjet 6P Printer
                                                                with Cable
-------------------------------------------------------------------------------------------------
Office Max                                                      HP Laserjet 6P Printer with Cable
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051535                          19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051535                          19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            049056                          19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            050797                          19" Color Monitor
-------------------------------------------------------------------------------------------------
The Mac Zone - France                                           Sony Monitor
-------------------------------------------------------------------------------------------------
Global Network Resources        981145                          19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            45566                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46420                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46420                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46421                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46422                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46422                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46466                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46776, 46820                    Okidata printer w/tractor
-------------------------------------------------------------------------------------------------
Global Network Resources        980430                          Sony 20"Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            049208                          Laserjet 4000N w/Enet
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            47351                           Anchorage Pentium MMX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46110                           20" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46569                           20" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            44370                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            44370                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            44370                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            44370                           19" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            49399                           ML395 24-pin Printer
-------------------------------------------------------------------------------------------------
Int'l Computing Sys             3354                            Viewsonic GA10 21" Monitor
-------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>   24

                                  SCHEDULE A-2
                                   PAGE 5 OF 9

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>                             <C>                             <C>

-------------------------------------------------------------------------------------------------
Total Corporate Svcs            47188                           Laserjet 4000N w/ENET
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            47188                           Laserjet 4000N w/ENET
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            47188                           Laserjet 4000N w/ENET
-------------------------------------------------------------------------------------------------
Total Corporate Services                                        Total Corporate Services
                                                                Computer Workstation - J. Stern
-------------------------------------------------------------------------------------------------
Dell Catalog Sales                                              Dell DIS, MSCN, CLR, 20, D, D
                                                                2026T-HS, US
-------------------------------------------------------------------------------------------------
Global Source Line                                              Viewsonic PT813 Monitor
-------------------------------------------------------------------------------------------------
Global Source Line                                              Viewsonic PT813 Monitor
-------------------------------------------------------------------------------------------------
Global Source Line                                              Viewsonic PT813 Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48373                           21" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48373                           21" Color Monitor
-------------------------------------------------------------------------------------------------
International Computing System                                  Pentium 166MHz Computer System
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46059                           21" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46466                           20" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            45878                           20" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            45878                           20" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46466                           20" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            44370                           21" Color Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            43653                           Color Monitor 20"
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            37312                           Color Monitor 20"
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            33010                           Color Monitor 20"
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            33010                           Color Monitor 20"
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            33010                           Color Monitor 20"
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48258                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48258                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48258                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48258                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            34699                           Color Monitor 20"
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            34699                           Color Monitor 20"
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            34699                           Color Monitor 20"
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            48257                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
I-O Solutions                   18575                           105SE w/rewind
-------------------------------------------------------------------------------------------------
Int'l Computing Sys             3378                            Pent 166 Computer, 15" Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051531                          Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051531                          Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051531                          Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051531                          Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>   25

                                  SCHEDULE A-2
                                   PAGE 6 OF 9

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>                             <C>                             <C>

-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051543                          Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            060668                          PII 230 SE440BX2 (no monitor)
-------------------------------------------------------------------------------------------------
ComputerWare (Svetcov)                                          Power Mac G3/266
-------------------------------------------------------------------------------------------------
International Computing System                                  International Computing System
                                                                Workstation
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            060088                          PII 230 SE440BX2 (no monitor)
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            45992                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            47014                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            45992                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            45992                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            45992                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46270                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46270                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            47014                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            47014                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            47014                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            47014                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Int'l Computing Sys             3366                            Pent 166 Computer, 17" Monitor
-------------------------------------------------------------------------------------------------
Dell Catalog Sales                                              Dell Dimension XPS 200MHz
                                                                Workstation
-------------------------------------------------------------------------------------------------
Dell Catalog Sales                                              Dell Dimension XPS 200MHz
                                                                Workstation
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051475                          Seattle Pentium II SE440BX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46288                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            45993                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46288                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            46288                           Atlanta Pentium II AL440LX
-------------------------------------------------------------------------------------------------
CDW Computer Centers            AI51604                         Toshiba Tecra 8000 6GB 64MB
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            45387                           Atlanta Pentium II AL440FX
-------------------------------------------------------------------------------------------------
CDW Computer Centers            AN71484                         Toshiba Tecra 8000 6GB 64MB
-------------------------------------------------------------------------------------------------
CDW Computer Centers            AO87440                         Toshiba Tecra 8000 6GB 64MB
-------------------------------------------------------------------------------------------------
CDW Computer Centers            AK66160                         Toshiba Tecra 8000 6GB 64MB
-------------------------------------------------------------------------------------------------
Office Depot                    7540482                         UPS, Backup, Pro 650, lot of 10
-------------------------------------------------------------------------------------------------
Fry's Electronics, Svetcov      Svetcov                         Video Tape Header/Cleaner
-------------------------------------------------------------------------------------------------
CDW Computer Centers            AC78638                         Toshiba Tecra 8000 6GB 64MB
-------------------------------------------------------------------------------------------------
CDW Computer Centers            AF14171, AF40345, AI15157       Toshiba Tecra 8000 6GB 64MB
-------------------------------------------------------------------------------------------------
Dell Catalog Sales                                              Dell Dimension XPS H266MHz
                                                                Computer System
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            059932                          Tecra8000 PII266
-------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>   26

                                  SCHEDULE A-2
                                   PAGE 7 OF 9

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>                             <C>                             <C>

-------------------------------------------------------------------------------------------------
Total Corporate Svcs            059353                          Nightshade Dual PII N440BX
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            061553                          Laserjet 8100 DN
-------------------------------------------------------------------------------------------------
The Mac Zone - France           FA/CA005624                     Toshiba Tecra 550CDT P266
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            38301                           Toshiba 660CD 20" Monitor
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            051766                          550CDT P266MMX System
-------------------------------------------------------------------------------------------------
CDW Computer Centers            9524248                         Toshiba 32MB 4000
-------------------------------------------------------------------------------------------------
Powercom                        9709                            USA & FRANCE Intraport 2
-------------------------------------------------------------------------------------------------
CDW Computer Centers            AC50414                         Toshiba Tecra 8000 6GB 64MB
-------------------------------------------------------------------------------------------------
NetPower                        6617                            Symetra Work Station
-------------------------------------------------------------------------------------------------
CDW Computer Centers            AC30013/AC37457/AC78574         Toshiba 8000 6GB 64MB
-------------------------------------------------------------------------------------------------
Dell                            251037610                       Dell Dimension 433MHZ 8MB
-------------------------------------------------------------------------------------------------
Netpower                        6060                            Symetra Workstation
-------------------------------------------------------------------------------------------------
Total Corporate Svcs            6403                            Symetra Workstation
-------------------------------------------------------------------------------------------------
Netpower                        6060                            Symetra Workstation
-------------------------------------------------------------------------------------------------
Netpower                        6060                            Symetra Workstation
-------------------------------------------------------------------------------------------------
Network Appliance               20051                           Dual-Channel SCSI adapter
-------------------------------------------------------------------------------------------------
Dell                            232233817                       Dell Power Edge 4300
-------------------------------------------------------------------------------------------------
Total Corporate Services        31204                           Toshiba Computer System (2 of
                                                                3) 660CDT
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
                                                                OFFICE FURNITURE:
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
Smart Interiors, Inc.                                           Anderson Double Pedestal Desk,
                                                                30" x 60"
-------------------------------------------------------------------------------------------------
Smart Interiors, Inc.                                           Anderson Double Pedestal Desk -
                                                                T. Thaure
-------------------------------------------------------------------------------------------------
Smart Interiors, Inc.                                           Anderson Double Pedestal Desk,
                                                                30" x 60"
-------------------------------------------------------------------------------------------------
Clark Sales & Manufacturing     5729                            Eck Adams Task Chair, lot of 4
-------------------------------------------------------------------------------------------------
Levenger                        P21249540101                    Barrister, medium oak w/lock
-------------------------------------------------------------------------------------------------
Office Depot                                                    Safco Five Drawer Flat File -
                                                                lot of 2 @ $664.61 each
-------------------------------------------------------------------------------------------------
Smart Interiors                 81790                           Marketing Area Workspace
-------------------------------------------------------------------------------------------------
CB Technical Sources            2478                            Shelves, lot of 2
-------------------------------------------------------------------------------------------------
Office Depot                                                    United Troubador Chair in AM51
                                                                Blue - lot of 10 @ $162.00 each
-------------------------------------------------------------------------------------------------
Clark Sales & Manufacturing     5636                            Mid Height Chair w/Castors, lot
                                                                of 6
-------------------------------------------------------------------------------------------------
Office Depot                                                    FireKing 4-Drawer Lateral Fire
                                                                Resistant File
-------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>   27

                                  SCHEDULE A-2
                                   PAGE 8 OF 9

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>                             <C>                             <C>

-------------------------------------------------------------------------------------------------
Smart Interiors, Inc.                                           U-Shaped Desk Configuration -
                                                                S. Barnes
-------------------------------------------------------------------------------------------------
Smart Interiors, Inc.                                           U-Shaped Desk Configuration -
                                                                L. Smith
-------------------------------------------------------------------------------------------------
Office Depot                    214179                          Troubabour Chair, lot of 15
-------------------------------------------------------------------------------------------------
Office Depot                                                    United Altura Chairs in AM25
                                                                Wine Color - lot of 8 @ $315.00
                                                                each
-------------------------------------------------------------------------------------------------
Clark Sales & Manufacturing     5642                            Eck Adams Task Chair, lot of 10
-------------------------------------------------------------------------------------------------
Clark Sales & Manufacturing     5704                            Four leg bench w/ESD, lot of 4
-------------------------------------------------------------------------------------------------
Smart Interiors                 81074                           Acoustical Panels for Eng
                                                                Bullpen
-------------------------------------------------------------------------------------------------
Clark Sales & Manufacturing     5629                            Four leg bench w/ESD, lot of 10
-------------------------------------------------------------------------------------------------
Smart Interiors                 80816                           Cubicles, lot of 2
-------------------------------------------------------------------------------------------------
Office Depot                                                    United Altura Chair in AM51
                                                                Blue - lot of 22 @ $315.00 each
-------------------------------------------------------------------------------------------------
Inside Source                   16511                           Bullpen area for 8 people
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
                                                                OFFICE EQUIPMENT:
-------------------------------------------------------------------------------------------------
Office Depot                                                    3M Overhead Projector
-------------------------------------------------------------------------------------------------
Fry's Electronics (Svetcov)                                     Epson Photo PC Color Digital
                                                                Camera
-------------------------------------------------------------------------------------------------
Selectric Signs                 S1176803.003                    Message Sign Board
-------------------------------------------------------------------------------------------------
Anderson's TV & Stereo          2784                            40" Television
-------------------------------------------------------------------------------------------------
Office Depot                                                    Quartet Ovonics Electronic Copy
                                                                Board
-------------------------------------------------------------------------------------------------
A2Z Business Sys                04370A                          Xerox 735 Faxcentre w/Aux tray
-------------------------------------------------------------------------------------------------
Castelle                        144235                          FP 3500 ETH 4L NT NDS
-------------------------------------------------------------------------------------------------
Minnesota Western               408207A                         S-VGA Multimedia Projector
-------------------------------------------------------------------------------------------------
Exhibit Group/Giltspur          A1194                           Marketing booth equipment
-------------------------------------------------------------------------------------------------
Exhibit group                    A1970, A1971                    Trade Show Nat'l
-------------------------------------------------------------------------------------------------
Wiltel                          Prepay                          Telephone Equipment
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
                                                                TEST EQUIPMENT:
-------------------------------------------------------------------------------------------------
Tektronic Inc.                  MP335584                        34 Channel Mass Term. Probe
-------------------------------------------------------------------------------------------------
Tektronic Inc.                  MP335584                        34 Channel Mass Term. Probe
-------------------------------------------------------------------------------------------------
Associated Research             0000434-IN                      AC Hypot 0 to 5000V, S/N:1778
-------------------------------------------------------------------------------------------------
Optimum Design Associates       99-247                          VSD2 Extender Board
-------------------------------------------------------------------------------------------------
Digital and Analog Concepts     042298                          Sentry 50 Tester
-------------------------------------------------------------------------------------------------
Sunin Precision Inc.            12276, 12279                    Part #311401-409
-------------------------------------------------------------------------------------------------
New Wave PDG                    42735                           32-bit PCI Support
-------------------------------------------------------------------------------------------------
</TABLE>

                                       19
<PAGE>   28

                                  SCHEDULE A-2
                                   PAGE 2 OF 9

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>                             <C>                             <C>

-------------------------------------------------------------------------------------------------
Western Servo Design            131356                          Offset Tester
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------
VENDOR                          INVOICE #                       ASSET DESCRIPTION
-------------------------------------------------------------------------------------------------

------------------------------- ------------------------------- ---------------------------------
AMP Packaging                   103855                          Text Fixture
-------------------------------------------------------------------------------------------------
Dynamic Details                 96129                           Part VSD2 Extender
-------------------------------------------------------------------------------------------------
QRS Medical Mktg                99482                           QA-90 Electrical Safety Analyzer
-------------------------------------------------------------------------------------------------
Robert E. MacKay                72998                           ARM TesterPCB Design
-------------------------------------------------------------------------------------------------
QRS Medical Marketing           99369                           QA-90 Electrical Safety Analyzer
-------------------------------------------------------------------------------------------------
Snader                          0135378                         Snell TPG-21 Test Pattern
                                                                Generator
------------------------------- ------------------------------- ---------------------------------
</TABLE>

together with all additions, attachments, accessories and accessions thereto,
replacements or substitutions therefor and all products and proceeds thereof, if
any, including insurance proceeds and any and all accounts, chattel paper,
contract rights and general intangibles arising from the sale, lease or other
disposition thereof or thereto.

EQUIPMENT LOCATION:  1340 Middlefield Road, Mountain View, CA  94043

HELLER FINANCIAL LEASING, INC.,           INTUITIVE SURGICAL, INC.
Secured Party                             Debtor

By:     /s/ Clifford A. Lehman            By:    /s/ Susan Barnes
   --------------------------------          ----------------------------------

Name:   Clifford A. Lehman                Name:  Susan Barnes
     ------------------------------            --------------------------------

Title:  Senior Vice President             Title: CFO and Assistant Secretary
      -----------------------------             -------------------------------

<PAGE>   29

                                                           Loan No: 1910193-0001
--------------------------------------------------------------------------------
HELLER FINANCIAL

                                 PROMISSORY NOTE

$1,500,000.00                                                       May 20, 1999

        FOR VALUE RECEIVED, INTUITIVE SURGICAL, INC., a Delaware corporation
("Maker"), promises to pay to the order of HELLER FINANCIAL LEASING, INC., a
Delaware corporation (together with any holder of this Note, "Payee"), at its
office located at 500 West Monroe Street, Chicago, Illinois 60661, or at such
other place as Payee may from time to time designate, the principal sum of One
Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00), together with
interest thereon at a fixed rate equal to Nine and 47/100 percent (9.47%) per
annum. Principal and interest shall be payable in thirty-six (36) consecutive
monthly installments commencing July 1, 1999, and continuing on the same day of
each consecutive calendar month thereafter until this Note is fully paid, each
such installment in the amount of Forty-eight Thousand Twenty-eight and 39/100
Dollars ($48,028.39); provided, however, that in any and all events the final
installment payment hereunder shall be in the amount of the entire then
outstanding principal balance hereunder, plus all accrued and unpaid interest,
charges and other amounts owing hereunder or under the Security Agreement
(defined below). All payments shall be applied first to interest and then to
principal. Interest shall be computed on the basis of a 360 day year comprised
of 30-day months. Maker shall make an interest only initial payment on June 1,
1999 of accrued interest from the loan disbursement date through May 31, 1999.

        Notwithstanding the foregoing, if at any time implementation of any
provision hereof shall cause the interest contracted for or charged herein or
collectable hereunder to exceed the applicable lawful maximum rate, then the
interest shall be limited to such applicable lawful maximum.

        This Note is secured by the collateral described in the Security
Agreement dated May 20, 1999, between Maker and Payee (the "Security Agreement;"
and together with all related documents and instruments, the "Loan Documents")
to which reference is made for a statement of the nature and extent of
protection and security afforded, certain rights of Payee and certain rights and
obligations of Maker, including Maker's rights, if any, to prepay the principal
balance hereof; provided, however, that in addition to any other sum payable
hereunder, under the Security Agreement or any of the other Loan Documents, in
the event of a prepayment of the principal balance hereunder, whether voluntary,
following acceleration or otherwise, Maker shall pay to Payee together with such
prepayment a Breakage Fee (defined below), which Breakage Fee, together with the
amounts payable under Section 3(ii) of the Security Agreement, if any,
represents liquidated damages to Payee for the loss of its bargain and not a
penalty. As used herein, the term "Breakage Fee" shall mean the amount, if any,
by which (A) the present value, in the aggregate, of the then remaining
installments of principal and interest due hereunder, absent the prepayment,
using a discount rate equal to (i) the yield to maturity as of the date two (2)
days prior to the date of the prepayment on United States Treasury securities
with a final maturity approximately equal to the remaining term hereof, absent
the prepayment, as published in The Wall Street Journal, plus (ii) three percent
(3.00%), exceeds (B) the then outstanding principal balance hereunder, absent
the prepayment.

        Time is of the essence hereof. If payment of any installment or any
other sum due under this Note or the Loan Documents is not paid when due, Maker
agrees to pay a late charge equal to the lesser of (i) five cents (5 cents) per
dollar on, and in addition to, the amount of each such payment, or (ii) the
maximum amount Payee is permitted to charge by law. In the event of the
occurrence of an Event of Default (as defined in the Security Agreement), then
the entire unpaid principal balance hereof with accrued and unpaid interest
thereon, together with all other sums payable under this Note or the Loan
Documents, shall, at the option of Payee and without notice or demand, become

                                       1
<PAGE>   30

immediately due and payable, such accelerated balance bearing interest until
paid at the rate of three percent (3%) per annum above the fixed rate set forth
in the first paragraph of this Note.

        Maker and all endorsers, guarantors or any others who may at any time
become liable for the payment hereof hereby consent to any and all extensions of
time, renewals, waivers and modifications of, and substitutions or release of
security or of any party primarily or secondarily liable on, or with respect to,
this Note or any of the Loan Documents or any of the terms and provisions
thereof that may be made, granted or consented to by Payee, and agree that suit
may be brought and maintained against any one or more of them, at the election
of Payee, without joinder of the others as parties thereto, and that Payee shall
not be required to first foreclose, proceed against, or exhaust any security
herefor, in order to enforce payment of this Note by any one or more of them.
Maker and all endorsers, guarantors or any others who may at any time become
liable for the payment hereof hereby severally waive presentment, demand for
payment, notice of nonpayment, protest, notice of protest, notice of dishonor,
and all other notices in connection with this Note, filing of suit and diligence
in collecting this Note or enforcing any of the security herefor, and, without
limiting any provision of any of the Loan Documents, agree to pay, if permitted
by law, all expenses incurred in collection, including reasonable attorneys'
fees, and hereby waive all benefits of valuation, appraisement and exemption
laws.

        If there be more than one Maker, all the obligations, promises,
agreements and covenants of Maker under this Note are joint and several.

        THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
INTERNAL LAWS AND DECISIONS OF THE STATE OF ILLINOIS WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAW. AT PAYEE'S ELECTION AND WITHOUT LIMITING PAYEE'S
RIGHT TO COMMENCE AN ACTION IN ANY OTHER JURISDICTION, MAKER HEREBY SUBMITS TO
THE EXCLUSIVE JURISDICTION AND VENUE OF ANY COURT (FEDERAL, STATE OR LOCAL)
HAVING SITUS WITHIN THE STATE OF ILLINOIS, EXPRESSLY WAIVES PERSONAL SERVICE OF
PROCESS AND CONSENTS TO SERVICE BY CERTIFIED MAIL, POSTAGE PREPAID, DIRECTED TO
THE LAST KNOWN ADDRESS OF MAKER, WHICH SERVICE SHALL BE DEEMED COMPLETED WITHIN
TEN (10) DAYS AFTER THE DATE OF MAILING THEREOF.

        MAKER HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF
ACTION BASED UPON OR ARISING OUT OF THIS NOTE. THIS WAIVER IS INFORMED AND
FREELY MADE. MAKER ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO
ENTER INTO A BUSINESS RELATIONSHIP, THAT PAYEE HAS ALREADY RELIED ON THE WAIVER
IN MAKING THE LOAN EVIDENCED BY THIS NOTE, AND THAT PAYEE WILL CONTINUE TO RELY
ON THE WAIVER IN ITS RELATED FUTURE DEALINGS. MAKER FURTHER WARRANTS AND
REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT
KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.

Witness/Attest:                         INTUITIVE SURGICAL, INC.

   /s/                                  By:    /s/ Susan Barnes
----------------------                     ------------------------------------

                                        Name:  Susan Barnes
                                             ----------------------------------

                                        Title: CFO and Assistant Secretary
                                              ---------------------------------

                                       2
<PAGE>   31

                                                          Loan No.: 1910193-0002
--------------------------------------------------------------------------------
HELLER FINANCIAL

                                 PROMISSORY NOTE

$500,000.00                                                   September 23, 1999

        FOR VALUE RECEIVED, INTUITIVE SURGICAL, INC., a Delaware corporation
("Maker"), promises to pay to the order of HELLER FINANCIAL LEASING, INC., a
Delaware corporation (together with any holder of this Note, "Payee"), at its
office located at 500 West Monroe Street, Chicago, Illinois 60661, or at such
other place as Payee may from time to time designate, the principal sum of Five
Hundred Thousand and 00/100 Dollars ($500,000.00), together with interest
thereon at a fixed rate equal to Nine and 78/100 percent (9.78%) per annum.
Principal and interest shall be payable in thirty-six (36) consecutive monthly
installments commencing November 1, 1999, and continuing on the same day of each
consecutive calendar month thereafter until this Note is fully paid, each such
installment in the amount of Sixteen Thousand Eighty-two and 00/100 Dollars
($16,082.00); provided, however, that in any and all events the final
installment payment hereunder shall be in the amount of the entire then
outstanding principal balance hereunder, plus all accrued and unpaid interest,
charges and other amounts owing hereunder or under the Security Agreement
(defined below). All payments shall be applied first to interest and then to
principal. Interest shall be computed on the basis of a 360 day year comprised
of 30-day months. Maker shall make an interest only initial payment on October
1, 1999 of accrued interest from the loan disbursement date through September
30, 1999.

        Notwithstanding the foregoing, if at any time implementation of any
provision hereof shall cause the interest contracted for or charged herein or
collectable hereunder to exceed the applicable lawful maximum rate, then the
interest shall be limited to such applicable lawful maximum.

        This Note is secured by the collateral described in the Security
Agreement dated May 20, 1999, between Maker and Payee (the "Security Agreement;"
and together with all related documents and instruments, the "Loan Documents")
to which reference is made for a statement of the nature and extent of
protection and security afforded, certain rights of Payee and certain rights and
obligations of Maker, including Maker's rights, if any, to prepay the principal
balance hereof; provided, however, that in addition to any other sum payable
hereunder, under the Security Agreement or any of the other Loan Documents, in
the event of a prepayment of the principal balance hereunder, whether voluntary,
following acceleration or otherwise, Maker shall pay to Payee together with such
prepayment a Breakage Fee (defined below), which Breakage Fee, together with the
amounts payable under Section 3(ii) of the Security Agreement, if any,
represents liquidated damages to Payee for the loss of its bargain and not a
penalty. As used herein, the term "Breakage Fee" shall mean the amount, if any,
by which (A) the present value, in the aggregate, of the then remaining
installments of principal and interest due hereunder, absent the prepayment,
using a discount rate equal to (i) the yield to maturity as of the date two (2)
days prior to the date of the prepayment on United States Treasury securities
with a final maturity approximately equal to the remaining term hereof, absent
the prepayment, as published in The Wall Street Journal, plus (ii) three percent
(3.00%), exceeds (B) the then outstanding principal balance hereunder, absent
the prepayment.

        Time is of the essence hereof. If payment of any installment or any
other sum due under this Note or the Loan Documents is not paid when due, Maker
agrees to pay a late charge equal to the lesser of (i) five cents (5 cents) per
dollar on, and in addition to, the amount of each such payment, or (ii) the
maximum amount Payee is permitted to charge by law. In the event of the
occurrence of an Event of Default (as defined in the Security Agreement), then
the entire unpaid principal balance hereof with accrued and unpaid interest
thereon, together with all other sums payable under this Note or the Loan
Documents, shall, at the option of Payee and without notice or demand, become

                                       1
<PAGE>   32

immediately due and payable, such accelerated balance bearing interest until
paid at the rate of three percent (3%) per annum above the fixed rate set forth
in the first paragraph of this Note.

        Maker and all endorsers, guarantors or any others who may at any time
become liable for the payment hereof hereby consent to any and all extensions of
time, renewals, waivers and modifications of, and substitutions or release of
security or of any party primarily or secondarily liable on, or with respect to,
this Note or any of the Loan Documents or any of the terms and provisions
thereof that may be made, granted or consented to by Payee, and agree that suit
may be brought and maintained against any one or more of them, at the election
of Payee, without joinder of the others as parties thereto, and that Payee shall
not be required to first foreclose, proceed against, or exhaust any security
herefor, in order to enforce payment of this Note by any one or more of them.
Maker and all endorsers, guarantors or any others who may at any time become
liable for the payment hereof hereby severally waive presentment, demand for
payment, notice of nonpayment, protest, notice of protest, notice of dishonor,
and all other notices in connection with this Note, filing of suit and diligence
in collecting this Note or enforcing any of the security herefor, and, without
limiting any provision of any of the Loan Documents, agree to pay, if permitted
by law, all expenses incurred in collection, including reasonable attorneys'
fees, and hereby waive all benefits of valuation, appraisement and exemption
laws.

        If there be more than one Maker, all the obligations, promises,
agreements and covenants of Maker under this Note are joint and several.

        THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
INTERNAL LAWS AND DECISIONS OF THE STATE OF ILLINOIS WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAW. AT PAYEE'S ELECTION AND WITHOUT LIMITING PAYEE'S
RIGHT TO COMMENCE AN ACTION IN ANY OTHER JURISDICTION, MAKER HEREBY SUBMITS TO
THE EXCLUSIVE JURISDICTION AND VENUE OF ANY COURT (FEDERAL, STATE OR LOCAL)
HAVING SITUS WITHIN THE STATE OF ILLINOIS, EXPRESSLY WAIVES PERSONAL SERVICE OF
PROCESS AND CONSENTS TO SERVICE BY CERTIFIED MAIL, POSTAGE PREPAID, DIRECTED TO
THE LAST KNOWN ADDRESS OF MAKER, WHICH SERVICE SHALL BE DEEMED COMPLETED WITHIN
TEN (10) DAYS AFTER THE DATE OF MAILING THEREOF.

        MAKER HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF
ACTION BASED UPON OR ARISING OUT OF THIS NOTE. THIS WAIVER IS INFORMED AND
FREELY MADE. MAKER ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO
ENTER INTO A BUSINESS RELATIONSHIP, THAT PAYEE HAS ALREADY RELIED ON THE WAIVER
IN MAKING THE LOAN EVIDENCED BY THIS NOTE, AND THAT PAYEE WILL CONTINUE TO RELY
ON THE WAIVER IN ITS RELATED FUTURE DEALINGS. MAKER FURTHER WARRANTS AND
REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT
KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.

Witness/Attest:                         INTUITIVE SURGICAL, INC.

   /s/                                  By:    /s/ Susan Barnes
----------------------                     ------------------------------------

                                        Name:  Susan Barnes
                                             ----------------------------------

                                        Title: CFO and Assistant Secretary
                                              ---------------------------------

                                       2
<PAGE>   33

                                                                Loan No: 1910193

                                SECOND AMENDMENT
                                       TO
                               SECURITY AGREEMENT

1. Parties and Date. This First Amendment to Security Agreement (the
"Amendment") is entered into effective as of March 2, 2000, by and between
INTUITIVE SURGICAL INC., a Delaware corporation ("Debtor"), and HELLER FINANCIAL
LEASING, INC., a Delaware corporation ("Secured Party").

2. Facts. Debtor and Secured Party have entered into a certain Security
Agreement dated May 20, 1999 (the "Security Agreement"). Debtor has requested
and Secured Party has agreed that the Security Agreement be amended on the terms
and conditions set forth in this Amendment. Capitalized terms used herein and
not otherwise defined shall have the meaning given to such terms in the Security
Agreement. Therefore, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows.

3. Amendment to Security Agreement. Debtor and Secured Party hereby agree that
the Security Agreement shall be and hereby is amended, as follows:

        (i)   Item 1(ii) of Exhibit A to the Security Agreement shall be
              restated to read: "(ii) Debtor's cash and cash equivalents plus
              short-term investments on hand, net of funded debt, is less than
              $10,000,000, and";

        (ii)  The final sentence Item 1 of Exhibit A to the Security Agreement
              shall be restated to read: "(Secured Party agrees to review (in
              its sole discretion) any request from Debtor to release any
              pledged amounts or letter of credit provided by Debtor if Debtor's
              EBITDA exceeds $2,500,000 in any two consecutive fiscal quarters
              or Debtor's cash and cash equivalents plus short-term investments
              on hand, net of funded debt, is more than $10,000,000.)"

4. Acknowledgments, Ratifications and Reaffirmations by Debtor. Debtor hereby
acknowledges, ratifies and reaffirms that (i) as of the date hereof no Event of
Default has occurred or exists, (ii) Debtor has no defense, offset or
counterclaim to any of Debtor's obligations under the Loan Documents, and (iii)
the Notes, Security Agreement (as amended by this Amendment) and other Loan
Documents are in full force and effect and are fully enforceable against Debtor
in accordance with their respective terms.

5. Effectiveness of Loan Documents. Except as expressly amended by this
Amendment, the Security Agreement, as well as the Notes and all of the other
Loan Documents shall remain in full force and effect.

                                       1
<PAGE>   34

6. Entire Agreement. The parties acknowledge and agree that there are no other
agreements or representations, either oral or written, express or implied, in
connection with the Loans, that are not embodied in this Amendment, the Notes,
the Security Agreement and the other Loan Documents, which, together represent a
complete integration of all prior and contemporaneous agreements and
understandings of Debtor and Secured Party in any way related to the Loans. The
Security Agreement (as amended by this Amendment) may not be altered, modified
or terminated in any manner except by a writing duly executed by Debtor and
Secured Party. If any provision of the Security Agreement (as amended by this
Amendment) is held to be invalid or unenforceable, the remaining provisions
shall remain in effect without impairment.

IN WITNESS WHEREOF, Debtor and Secured Party have each executed this Agreement
to be effective as of the day and year first above written.

"DEBTOR"                                "SECURED PARTY"

INTUITIVE SURGICAL, INC.,               HELLER FINANCIAL LEASING, INC., a
a Delaware corporation                  Delaware corporation

By: /s/ SUSAN BARNES                    By: /s/ Richard Petrucci
   -----------------------------           ------------------------------------
Name: Susan Barnes                      Name:  Richard Petrucci
     ---------------------------             ----------------------------------

Title:  CFO                             Title: AVP
      --------------------------              ---------------------------------

                                       2

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