Document:

exhibit_4-17.htm

Exhibit 4.17

 

	 	
Mazor Robotics Inc.

189 S. Orange Ave., Suite 1850

Orlando, FL  32801

Tel: 1 (800) 80-MAZOR

Fax: (407) 591-3560

usa@MazorRobotics-us.com

	
Mazor Robotics Ltd.

PO Box 3104, 7 HaEshel St.

Caesarea Park South 38900, Israel

Tel: +972 4 618-7100

Fax: +972 4 618-7111

info@mazorrobotics.com

	
Mazor Robotics GmbH

Borkstraße 10

48163 Münster, Germany

Tel: +49 251 703 666 0

Fax: +49 251 703 666 52

Germany@MazorRobotics.com

 

Offer made to Christopher Prentice

 

Job Title:  Chief Executive Officer Mazor Robotics Inc.

 

Member of the executive management team of Mazor Robotics Ltd.

 

Reporting to:  CEO Mazor Robotics Ltd

 

Subordinated to: Board of Directors, Mazor Robotics Inc.

 

Main responsibilities: US Sales, Marketing, Service, Finance & Administration, HR and Operation. Potentially also Product management group

 

Revision Date: September 17th , 2014

 

Location:          Orlando, Florida

 

Position Overview:

 

The CEO of Mazor Robotics Inc. ("company") will lead the US business and will be responsible to meeting the objectives as will be approved by the Mazor Robotics Ltd. CEO and the Mazor Robotics Ltd. board of directors ("board").   The CEO will be responsible for developing and overseeing the successful execution of the strategy for the company in the US market. This includes developing and implementing plans which accelerate company performance and positioning the company for continued long-term profitable and sustainable growth.  This leadership position will also be accountable for workforce development responsibilities including recruitment, selection, performance management, talent development, team building, developing organization culture & employee loyalty and integrity.  The position is also responsible to  ensure full compliance with regulatory and statutory requirement of the US operation.

The position involves extensive travel throughout the US and internationally in addition to routine travel (at least 6 times per year) to the company headquarters in Israel.

The company headquarter is in downtown Orlando, Florida. The position require daily stay at the office headquarter, extensive travel schedule and living at the Orlando area.

 

  

  

  

 

Missions and tasks:

The CEO’s role and responsibility contains a wide range of executive duties which includes among others also the following tasks:

Executive Leadership:

	
  

	
o

	
Provide strategic vision and leadership and direct the Executive Management team to establish goals, strategies, plans, methodologies and policies

	
  

	
o

	
Ensure that the mission and core values of the company are placed into practice

	
  

	
o

	
Manage subordinated executives who supervise employees and take responsibility for the overall direction, coordination and evaluation of operational units

	
  

	
o

	
Hire and develop the company staff and leadership team

	
  

	
o

	
Inspire ethic and professional executive performance – be a role model who exemplifies within others also professionalism, dedication, persistence, integrity, clear and direct communication and cross cultural management skills.

	
  

	
o

	
Provide detailed and accurate routine business forecasting

Focus on Growth:

	
  

	
o

	
Lead the development, communication and implementation of effective growth strategies and processes

	
  

	
o

	
Develop and implement operational infrastructure and methods, processes and personnel, designed to accomplish the growth objectives of the company

	
  

	
o

	
Develop plans and strategies to meet or exceed the company’s revenue targets

	
  

	
o

	
Inspire the organization towards high level of quality and customer satisfaction

	
  

	
o

	
Monitor customer, market and competitor activity, compile the information and  data, and provide feedback to corporate executive management team and other company functions

	
  

	
o

	
Manage key customer relationships and participate in closing strategic opportunities and travel for in-person meetings with customers and partners and to develop key relationships

	
  

	
o

	
React rapidly to changing trends or new competitive threats and opportunities by devising plans and making recommendations to the corporate executive management  team

	
o

	
Head of Commercial Operation:

	
  

	
o

	
Responsible for the company’s commercial operations in the US market – direct management of the entire US team, operations and resources to deliver profitable growth

	
  

	
o

	
Responsible to compliance of regulatory and statutory  requirement

	
  

	
o

	
Direct and coordinate company marketing, sales  and service   functions in the US market.

	
  

	
o

	
Exploit business opportunities

 

  

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o

	
Finance, Compliance, HR  & Administration:

	
  

	
o

	
Manage the activities of the US Headquarters – Orlando, FL

	
  

	
o

	
Ensure compliance with all labor laws and regulations in the US

	
  

	
o

	
Lead the company budget and work plan and efficiently manage the use of the company budgeted resources – full P&L responsibility for Mazor Robotics Inc.

	
  

	
o

	
Work closely with the Operations, HR and Finance functions of Mazor Robotics Ltd. to establish successful processes & programs – recommend and administer policies and procedures to enhance company operations

	
  

	
o

	
Represent the company at various events to promote the company and support its interests

	
  

	
o

	
Promote positive relations with partners, vendors, and distributors

	
  

	
o

	
Serve as compliance officer for the US operations – ensuring that processes and programs comply with all relevant regulations and laws (FDA, SEC, etc)

	
  

	
o

	
Attend Mazor Inc. Board meetings, report to the board of directors and maintain Mazor Inc. records

	
  

	
o

	
Approve ordering and payments based on approved budget and within authorized signatory rights

	
  

	
o

	
Sign on behalf of Mazor Inc on formal documents that must be submitted according to the US laws and regulations

	
  

	
o

	
Attend all meetings of the Executive management of Mazor Robotics Ltd.

 

Term: The term of employment is unlimited but employment will not be terminated, other than for cause, by either the employee or employer in the first 12 months (including notice period of 3 months).

 

Compensation:

 

The compensation will consist on several building blocks which includes: Base salary, Social benefits, Employee stock options plan (ESOP) and annual bonus.

 

The CEO bonus plan will be based on the annual objectives and linked to the approved budget of the company. The bonus will be paid on an annual base, following the approval of the company financial statements by its board of Directors

 

	 	
·

	
Annual salary:       $ 250,000

 

	 	
·

	
Options:                 Total of 100,000 based on the standard terms of the current ESOP and the approved policy of pricing of stock upon grant (Subject to board approval)

 

  

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·

	
Bonus: of up to $100,000 P/A  will be paid upon and subject meeting specific objectives which will cover the following topics:

 

	
o

	
Meeting revenue targets (Capital sales and Recurrent revenues)

	
50%

	 	 	 
	
o

	
Meeting strategic objectives

	
20%

	 	 	 
	
o

	
Leadership development and Undesired turnover rate

	
10%

	 	 	 
	
o

	
Effective team work with the corporate executives and commercial operation functions.

	
10%

	 	 	 
	
o

	
Operating within approved expense budget

	
10%

 

	
  

	
·

	
Advanced Notice in case of leave – 90 days

 

	 	
·

	
Payment upon leave:  2 Months of salary in case of resignation by the employee and 3 months in case of termination by the Company (other than for cause or breach of fiduciary duties)

 

/s/ Ori Hadomi

Ori Hadomi

Chief Executive Officer

 

- 4 -exhibit_4-18.htm

Exhibit 4.18

 

	 	
Mazor Robotics Inc.

189 S. Orange Ave., Suite 1850

Orlando, FL  32801

Tel: 1 (800) 80-MAZOR

Fax: (407) 591-3560

usa@MazorRobotics-us.com

	
Mazor Robotics Ltd.

PO Box 3104, 7 HaEshel St.

Caesarea Park South

3088900 Israel

Tel: +972 4 618-7100

Fax: +972 4 618-7111

info@mazorrobotics.com

	
Mazor Robotics GmbH

Borkstraße 10

48163 Münster, Germany

Tel: +49 251 703 666 0

Fax: +49 251 703 666 52

Germany@MazorRobotics.com

 

Sandra Adzic

 

Date: Saturday, January 24, 2015

 

Sandra Adzic– VP Sales

 

Dear Sandra,

 

I am glad to offer you a promotion to VP Sales International, the detailed job description is attached as appendix to this letter.

 

As part of the promotion your updated compensation package will consist on several building blocks which include: Base salary, Employee stock options plan (ESOP) and annual bonus.

 

The Bonus plan will be based on the annual sales objectives in the region and linked to the approved budget of the company. Statements by its board of Directors

 

	
  

	
·

	
Monthly salary:

	
NIS 33,000

 

	
  

	
·

	
Options:

	
Total of 80,000 based on the standard terms of the current ESOP and the approved policy of pricing of stock upon grant (Subject to board approval)

 

	
  

	
·

	
Annual Sales Target Bonus: of up to $40,000 will be paid upon and subject meeting specific objectives.

 

Other terms of your engagement will remain unchanged.

 

Looking forward to your acceptance of the offer letter.

 

Best regards,

 

/s/ Ori Hadomi

Ori Hadomi

 

 

  

  

  

 

	
Job Title:   Vice President, Sales – International

 

Department: Sales                    Location: Israel

 

Replacement (replacing__________)/Addition_____

 

Purpose Statement/General Statement:

 

The VP of Sales (VPS) reports to Mazor Robotics CEO, responsible for leading an international sales and downstream marketing team.

 

Key Responsibilities:

 

The VPS will be responsible for the planning and execution of the company sales activity within defined territories. The VPS will lead a team of regional account sales managers (ASM) and clinical sales managers (CSM) as well as a regional downstream  marketing manager.

 

ASM – have overall responsibility to the territory,  crate new leads and close deals at defined territories.

 

CSM – responsible for developing existing robotic accounts to maximize the spine program.

 

International Marketing manager - responsible for down-stream marketing activities in the international market

 

The VPS have the executive responsibility of the team performance, starting from budget planning, assigned quotas, periodic millstone and performance check to the full execution of the corroborate goals and plan.

 

The VPS is in charge – among other responsibilities, of creating opportunities, finalizing sales, developing the territory, developing the teams  - including interviewing, hiring, and training new employees. The VPS will ensure account managers have a superior knowledge of the Mazor solution and sales process.

 

The VPS is expected to be a deal closer, a charismatic, sophisticated, creative and experienced sales manager who will know how to work closely with the teams and the customers in order to meet the business objectives.

 

  

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Principle Duties and responsibilities:

 

	
  

	
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Continue to build the International sales team, including territory account managers and clinical case sales support personnel.

	
  

	
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Work closely with management team to define compensation structure

	
  

	
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Provide day-to-day management of all sales personnel

	
  

	
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Take all needed measures to meet sales targets on a quarterly base, based on the business objectives.

	
  

	
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Continually lead generation of relevant leads, manage the sales process and attend the critical points to ensure deal closings.

	
  

	
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Manage all post sales activities to ensure customer satisfaction and loyalty

	
  

	
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Responsible to assimilate and maintain the company ERP system updated with all sales related progress and data

	
  

	
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Lead the creation of solutions, proposals, and sales presentations to our partners

	
  

	
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Work closely to define and realize attractive payments mechanisms to meet the business and the customer needs.

- 3 -

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