Document:

EXHIBIT 10.29

                           SECOND AMENDMENT TO
                           PURCHASE AGREEMENT

     THIS SECOND AMENDMENT TO PURCHASE AGREEMENT (the "Amendment"), is made
this 1st day of March, 2001 by and between James Acridge, as Trustee of
The Acridge Family Trust ("Seller"), and Giant Industries, Inc., an Delaware
corporation ("Buyer").

                                RECITALS

     A.   Buyer and Seller entered into that certain Purchase Agreement
dated January 26, 2001, as amended by that certain First Amendment to
Purchase Agreement dated February 12, 2001 (collectively, the "Agreement")
with respect to that certain real property described therein (the
"Property").

     B.   Buyer and Seller now wish to further amend the Agreement as
hereinafter provided.

     NOW, THEREFORE, for good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

     1.   Deposit.  The Deposit is increased from $990,000 to $1,290,000.
Seller acknowledges the receipt of the initial $990,000 of the Deposit.
Immediately following the execution of this Amendment, Buyer shall pay the
remaining $300,000 of the Deposit to Seller, by wire transfer of immediately
available funds or other means acceptable to Seller, direct and outside of
Escrow.  The cash payable at the Closing shall be reduced by the increase in
the Deposit.

     2.     Loan Payment.  Section 2.3(b) of the Agreement is amended in its
entirety to read as follows:

     "(b)     Loan Payment.  At the Closing, $938,007.90 (the "Loan
Payment") shall be applied by Buyer to amounts payable to Buyer by James E.
Acridge ("Acridge") under that certain Amended and Restated Loan Agreement,
dated March 20, 2000, between Buyer and Acridge (the "Loan Agreement") to
repay the interest that shall become due and payable on the Closing, such
amount to be prorated in accordance with the Loan Agreement in the event that
the Closing occurs prior to such date.  Seller hereby directs Buyer to apply
the Loan Payment to the amounts payable by Acridge as set forth in the
preceding sentence."

     3.     Appraisal.  The reference to February 16, 2001 in Sections
5.1(e) and 5.2(b) is hereby changed to March 26, 2001. The costs associated
with any appraisal shall be split evenly by Buyer and Seller. The party that
is invoiced for any appraisal shall, in turn, invoice the other party for
its portion of such expense. The invoiced party shall remit the payment
required by such invoice within ten (10) days of its receipt of such invoice
or out of escrowed funds due such party at Closing.

     4.     Closing.  The Closing shall be on or before March 28, 2001.

     5.     Legal Counsel and Advisors.  Seller acknowledges that it has
been given an opportunity to consult with legal counsel and other advisors
prior to the execution of the Agreement and this Amendment.

     6.     Definitions.  Except as otherwise provided herein, the defined
terms shall have the meanings set forth in the Agreement.

     7.     Full Force and Effect.  Except as amended hereby the Agreement
shall remain in full force and effect.

     8.     Counterparts.  This Amendment may be executed via facsimile in
any number of counterparts, each of which shall be an original, but all which
shall constitute one and the same Amendment.

     IN WITNESS WHEREOF this Amendment has been executed the first day in
year written above.

                             SELLER:

                             /s/ JAMES E. ACRIDGE
                             -------------------------------------
                             JAMES ACRIDGE, AS TRUSTEE OF THE
                             ACRIDGE FAMILY TRUST

                             BUYER:

                             GIANT INDUSTRIES, INC.

                             By   /s/ MARK B. COX
                               -----------------------------------
                             Its  VP TREASURER & FINANCIAL OFFICER
                                ----------------------------------EXHIBIT 10.30
                             THIRD AMENDMENT TO
                             PURCHASE AGREEMENT

     THIS THIRD AMENDMENT TO PURCHASE AGREEMENT (the "Amendment"), is made
this 9th day of March, 2001 by and between James Acridge, as Trustee of
The Acridge Family Trust ("Seller"), and Giant Industries, Inc., an Delaware
corporation ("Buyer").

                                 RECITALS
     A.     Buyer and Seller entered into that certain Purchase Agreement
dated January 26, 2001 (the "Purchase Agreement"), as amended by that certain
First Amendment to Purchase Agreement dated February 12, 2001 (the "First
Amendment") and that certain Second Amendment to Purchase Agreement dated
March 1, 2001 (the "Second Amendment" and collectively with the Purchase
Agreement and the First Amendment, the "Agreement") with respect to that
certain real property described therein (the "Property").

     B.     Buyer and Seller now wish to further amend the Agreement as
hereinafter provided.

     NOW, THEREFORE, for good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

     1.     Deposit.

            (a)     The Deposit is increased from $1,290,000 to $1,740,000.
Seller acknowledges the receipt of the initial $1,290,000 of the Deposit.
Immediately following the execution of this Amendment, Buyer shall pay the
remaining $450,000 (the "$450,000 Deposit") of the Deposit to Seller, by wire
transfer of immediately available funds or other means acceptable to Seller,
direct and outside of Escrow.  The cash payable at the Closing shall be
reduced by the increase in the Deposit.

            (b)     Seller's obligation to repay the $450,000 Deposit paid by
Buyer shall be secured by the collateral described in the Pledge and Security
Agreement, dated as of March 10, 2000, by and among James E. Acridge and
Pinnacle Rodeo, L.L.C., an Arizona limited liability company, as pledgor, and
Buyer, as pledgee.  Notwithstanding the provisions of this Section, the Deed
of Trust with respect to the Property as described in Section 2.3(a) of the
Agreement shall remain in full force and effect and shall continue to secure
the obligation of Seller to repay the entire Deposit, including the $450,000
Deposit.

            (c)     In the event the transactions contemplated under the
Agreement are consummated and the Deposit, along with the indebtedness
secured by the first deed of trust covering the Property, exceeds the Sales
Price (the "Surplus Payment"), such Surplus Payment shall be immediately
repaid to Buyer.

     2.     Loan Payment.  Section 2.3(b) of the Agreement is amended in its
entirety to read as follows:

            "(b)     Loan Payment.  At the Closing, Buyer shall apply all
amounts necessary to repay all accrued interest that shall become due and
payable as of the Closing (the "Loan Payment") under that certain Amended and
Restated Loan Agreement, dated March 20, 2000, between Acridge and Buyer, as
amended (the "Loan Agreement").  Seller hereby directs Buyer to apply the
Loan Payment to the amounts payable by Acridge as set forth in the preceding
sentence."

     3.     Option.  The fifth sentence of Section 3 of the First Amendment
is amended in its entirety to read as follows:

            "If Seller exercises the Option, an escrow shall be established
with Escrow Agent."

     4.     Legal Counsel and Advisors.  Seller acknowledges that it has
been given an opportunity to consult with legal counsel and other advisors
prior to the execution of the Agreement and this Amendment.

     5.     Definitions.  Except as otherwise provided herein, the defined
terms shall have the meanings set forth in the Agreement.

     6.     Full Force and Effect.  Except as amended hereby the Agreement
shall remain in full force and effect.

     7.     Counterparts.  This Amendment may be executed via facsimile in
any number of counterparts, each of which shall be an original, but all which
shall constitute one and the same Amendment.

     IN WITNESS WHEREOF this Amendment has been executed as of the date
first written above.

                             SELLER:

                             /s/ JAMES E. ACRIDGE
                             -------------------------------------
                             JAMES ACRIDGE, AS TRUSTEE OF THE
                             ACRIDGE FAMILY TRUST

                             BUYER:

                             GIANT INDUSTRIES, INC.

                             By   /s/ MARK B. COX
                               -----------------------------------
                             Its  VP TREASURER
                                ----------------------------------EXHIBIT 10.56

                              AMENDED AND RESTATED
                          LICENSE AND ROYALTY AGREEMENT

         This Amended and Restated License and Royalty Agreement ("Agreement"),
is made and entered into as of this 3rd day of January, 2001, by and among
LASERSIGHT TECHNOLOGIES, INC., a Delaware corporation ("Licensee"), LUIS A.
RUIZ, M.D. and SERGIO LENCHIG (collectively, "Licensors").

         WHEREAS, Licensors are the owners of the entire, right, title and
interest in and to a certain U.S. letters patent and foreign patents, as
identified on Exhibit A attached hereto and made a part hereof, pertaining to a
device for use in human corneal refractive surgery (collectively, the "Licensed
Patents");

         WHEREAS, Licensors have certain know-how and confidential technical
information directed to the Licensed Patents (collectively, the "Licensed
Technology");

         WHEREAS, Licensee desires to acquire a world wide, non-exclusive
license to make, have made, use or sell the device described in or covered by
any claims of the Licensed Patents (the "Device") in those countries identified
on Exhibit A (the "Territory") and throughout the world, in accordance with the
terms and conditions provided herein;

         WHEREAS, Licensors are willing to grant such a license to Licensee in
accordance with the terms and conditions provided herein;

         WHEREAS, the Licensors and Licensee have entered into that certain
License and Royalty Agreement dated as of September 10, 1997 (the "Original
Agreement");

         WHEREAS, the Licensors and Licensee have entered into that certain
First Amendment to License and Royalty Agreement (the "Amendment"), dated
January 18, 2000, amending the Original Agreement;

         WHEREAS, the Licensors and Licensee desire to amend and restate the
Original Agreement, as amended by the Amendment, as provided herein; and

         WHEREAS, LaserSight Incorporated, a Delaware corporation
("LaserSight"), has agreed to guaranty certain obligations of Licensee and to
undertake certain obligations described in this Agreement.

         NOW, THEREFORE, for and in consideration of the mutual promises and
valuable consideration set forth herein, the parties hereto mutually agree as
follows:

         1.       Grant of License. Licensors hereby grant to Licensee during
the Term (as defined herein) a world-wide, non-exclusive, terminable,
non-transferable, non-sublicensable (except as provided herein) right and
license to make, have made, use and sell the Device under the Licensed Patents
and the Licensed Technology (the "License"). As used herein, the term Licensed
Patents shall include those items listed on Exhibit A, and any reissues,

<PAGE>

divisionals, continuations, and continuations-in-part. As used herein, the term
Licensed Technology is limited to that information known to Licensors as of the
Effective Date (as defined herein) and specifically excludes any information of
Licensors concerning proprietary software developed or owned by Licensors.

         2.       Term. This Agreement was effective as of September 10, 1997,
                  ----
and commenced on January 1, 2000 (the "Commencement Date"), and shall continue
thereafter until July 31, 2005 (the "Initial Term"), unless earlier terminated
as provided herein. At the conclusion of the Initial Term Licensee shall have
the sole option to renew this Agreement for additional one (1) year terms (each
a "Renewal Term" and collectively "Renewal Terms", and the Initial Term together
with the Renewal Terms shall constitute the "Term") upon the terms and
conditions as set forth herein. If Licensee elects to renew this Agreement for
one or more Renewal Terms, then Licensee shall be obligated to pay to Licensors
only the payments described in Section 5(d), provided that, unless otherwise
agreed to by the parties, the ten percent (10%) royalty rate contemplated by
Section 5(d) will increase to fifty percent (50%) and any Minimum Quarterly
Payment (as defined herein) to be paid during such Renewal Term(s) shall be
equal to $400,000 per calendar quarter.

         3.       Ownership of Intellectual Property.
                  ----------------------------------

                  (a) Licensee acknowledges that Licensors have all right, title
         and interest in the Licensed Patents and the Licensed Technology, and
         that as between Licensors and Licensee, Licensors have the exclusive
         right to use the Licensed Patents and the Licensed Technology, except
         as otherwise provided herein. Licensee shall not, at any time, file any
         trademark or patent application with the United States Patent and
         Trademark Office or any other governmental entity, any copyright
         registration with the U.S. Copyright Office or with any other
         governmental entity for the Licensed Patents and the Licensed
         Technology. Licensee shall not use any of the Licensed Patents and the
         Licensed Technology except in accordance with this Agreement. Any
         patent or copyright registration obtained or applied for anywhere in
         the world that contains the Licensed Patents and the Licensed
         Technology or any substantially similar design, shall be transferred to
         Licensors without compensation. Notwithstanding anything set forth in
         this Section 3(a) to the contrary, the parties acknowledge and agree
         that U.S. Letters Patent No. 5,586,980, dated December 24, 1996 (the
         "Kremer Patent"), is the sole and exclusive property of LaserSight or
         one of its affiliates, and that the provisions of this Section 3(a)
         shall not apply to LaserSight's activities in connection with the
         Kremer Patent.

                  (b) Licensee shall not oppose or seek to cancel or challenge,
         in any forum, including, but not limited to, the United States Patent
         and Trademark Office or any other governmental authority, any
         application or registration of any trademark, service mark or patent
         which contains the Licensed Patents or the Licensed Technology.
         Licensee shall not oppose or seek to cancel or challenge, in any forum,
         including, but not limited to, the U.S. Copyright Office, any
         application or registration of a design containing the Licensed Patents
         or the Licensed Technology. Licensee shall not object to, or file any
         action or lawsuit because of any use by Licensors of the Licensed
         Patents or the Licensed Technology, whether such use is by Licensors
         directly or through different licensees or authorized users unless such
         use conflicts with the terms of this Agreement.

<PAGE>

                  (c) Nothing in this Agreement gives Licensee any right, title,
         or interest in any of Licensors' intellectual property except the right
         to use in accordance with the terms of this Agreement.

                  (d) Licensee acknowledges that all designs, artwork,
         compilations or derivatives ("Works") included in the Licensed Patents
         or the Licensed Technology are the sole property of Licensors. Licensee
         acknowledges that any Works, other than trademarks or service marks,
         created by it pursuant to this Agreement that contain the Licensed
         Patents or the Licensed Technology are also the property of Licensors.
         Licensee hereby assigns to Licensors any right, title or interest they
         may have in Works, other than trademarks or service marks, developed
         under this Agreement to Licensors. Licensee warrants they have and will
         maintain appropriate agreements with their employees and independent
         contractors to give effect to this Section. Accordingly, Licensee shall
         not copy, use, assign or otherwise transfer any rights in any Works or
         any derivatives thereof included, except in accordance with this
         Agreement. Licensee shall not attempt to obtain or assert copyright
         rights in any artwork or design, other than with respect to trademarks
         and service marks, which contains the Licensed Patents and the Licensed
         Technology, without the express written authorization of Licensors.
         Notwithstanding anything set forth in this Section 3(d), the parties
         acknowledge and agree that the Kremer Patent is the sole and exclusive
         property of LaserSight and that the provisions of this Section 3(d)
         shall not apply to LaserSight's activities in connection with the
         Kremer Patent.

                  (e) Licensee acknowledges that its material breach of this
         Agreement will result in immediate and irreparable damage to Licensors,
         and that money damages alone would be inadequate to compensate
         Licensors. Therefore, in the event of a material breach of this
         Agreement by Licensee, Licensors, in addition to other remedies, may
         immediately obtain and enforce injunctive relief prohibiting the
         material breach or compelling specific performance.

         4.       Limitations on the License.  The  License is subject to the
                  --------------------------
following additional limitations:

                  (a) Distribution. In the event Licensee sells or distributes
                      ------------
         the Covered Products (as defined herein) to any person, firm or
         corporation related in any manner to Licensee or its officers,
         directors or major stockholders, or to an exclusive distributor,
         Licensee shall make Quarterly Gross Profit Payments (as defined herein)
         with respect to such sales or distribution based upon the Sales Price
         (as defined herein) generally charged to Licensee's normal distribution
         network.

                  (b) No Other Use.  Licensee shall not use the Device, the
                      ------------
         Licensed Patents or the Licensed Technology for anypurpose other than
         in connection with this Agreement.

                  (c) Manufacture of Covered Products.  Licensee shall (i) be
                      -------------------------------
         responsible for the cost of purchasing or manufacturing the Covered
         Products, as applicable, and (ii) shall enter into agreements for the
         manufacture of the Keratomes.

<PAGE>

                  (d) Premium Rights. Licensee shall not manufacture, sell, or
                  ------------------
         distribute the Covered Products as Premiums, for publicity purposes,
         for fund raising, as giveaways, in combination sales, or for disposal
         under similar methods of merchandising except as provided in this
         subsection; provided, however, during the first two (2) calendar
         quarters following the Commencement Date, Licensee shall have the right
         to grant Premiums in an amount not to exceed five percent (5%) of the
         total disposable microkeratomes produced during the applicable calendar
         quarter, and such amount will be reduced to one percent (1%) for each
         calendar quarter thereafter. For purposes of this Agreement, "Premium"
         shall be defined as any time the Covered Products are sold or given
         away for the purposes of increasing sales, promoting, or publicizing
         any other product, service or establishment, including incentives for
         sales force, trade or consumer promotions.

                  (e) Notices. Licensee shall stamp on the Device or any
         packaging for the Device such intellectual property notices as
         reasonably directed from time to time by Licensors.

         5.       Consideration.  As consideration for the License, Licensee
                  -------------
shall pay the following  to Licensors:

                  (a) on the date hereof, LaserSight shall wire transfer an
         aggregate amount of $250,000 U.S. in immediately available funds to the
         Licensors in accordance with wire transfer instructions provided to
         Licensee by the Licensors.

                  (b) on the date hereof, LaserSight shall send its transfer
         agent an irrevocable letter of direction to issue two stock
         certificates (one in the name of each Licensor) each representing
         365,276 shares (the "License Shares") of LaserSight common stock, $.001
         par value per share ("Common Stock").

                  The Licensors acknowledge and agree that the License Shares
         (i) are authorized but previously unissued Common Stock which have not
         been registered under the Securities Act of 1933, as amended ("the
         Act"), or any state securities laws, (ii) have been acquired for
         investment purposes only and not with a view to distribution or resale,
         (iii) may not be sold or transferred unless such shares have been
         registered under the Act and such applicable state securities laws, or
         unless in the opinion of counsel acceptable to LaserSight an exemption
         from registration is available, and (iv) the certificates representing
         such shares shall bear substantially the following legend:

                  THE SHARES OF COMMON STOCK REPRESENTED BY THIS CERTIFICATE
                  HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
                  AMENDED (THE "ACT"), OR ANY APPLICABLE STATE SECURITIES LAW
                  AND MAY NOT BE TRANSFERRED UNTIL (I) A REGISTRATION STATEMENT
                  UNDER THE ACT AND SUCH APPLICABLE STATE SECURITIES LAWS SHALL
                  HAVE BECOME EFFECTIVE WITH REGARD THERETO, OR (II) IN THE
                  OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY, REGISTRATION

<PAGE>

                  UNDER SUCH SECURITIES ACTS AND SUCH APPLICABLE STATE
                  SECURITIES LAWS IS NOT REQUIRED IN CONNECTION WITH SUCH
                  PROPOSED TRANSFER.

         The License Shares shall have those registration rights that are more
         fully described in that certain Registration Rights Agreement, dated as
         of the date hereof, substantially in the form which is attached hereto
         as Exhibit B.

                  (c) during the period commencing on the date hereof and
         continuing through July 31, 2002 (such period referred to herein as the
         "Fixed Quarterly Payment Period"), on the date indicated in column 2 of
         Exhibit C attached hereto Licensee shall pay jointly to Licensors the
         applicable amount set forth in column 3 of Exhibit C (each such payment
         referred to herein as a "Fixed Quarterly Payment").

                    Notwithstanding anything set forth herein to the contrary,
         the amount of each Fixed Quarterly Payment shall be subject to
         adjustment (the "Fixed Quarterly Payment Adjustment") if at any time
         during the Fixed Quarterly Payment Period, (A) a royalty is imposed in
         connection with the sale of the Device, or (B) an injunction is issued
         by a court of competent jurisdiction whereby Licensee is prevented from
         distributing the Device or any other dispute arises in connection with
         the Licensed Patents or the Licensed Technology (collectively, a
         "Patent Dispute"), the Fixed Quarterly Payment then in effect shall be
         reduced to the amount resulting from multiplying such Fixed Quarterly
         Payment times eighty percent (80%). Any such adjustment shall remain in
         effect until such time as the Patent Dispute is finally resolved in a
         manner acceptable to Licensee or the royalty is no longer imposed in
         connection with the sale of the Device, as the case may be. If the
         amount of a Fixed Quarterly Payment is reduced as result of a Patent
         Dispute such reduction shall only affect the Fixed Quarterly Payment
         prospectively. If the duration of any such event or events described
         above is less than a calendar year, any such adjustment shall be
         pro-rated based on the number of months during which such event is
         continuing.

                  (d) during the period commencing August 1, 2002 and continuing
         through July 31, 2005 (such period referred to herein as, the "Extended
         Period"), on the date indicated in column 2 of Exhibit C Licensee shall
         pay jointly to Licensors an amount equal to the greater of (i) ten
         percent (10%) of the Gross Profit (as defined herein) (each such
         payment referred to herein as a "Quarterly Gross Profit Payment"), or
         (ii) the applicable amount set forth in column 3 of Exhibit C (each
         such payment referred to herein as a "Minimum Quarterly Payment").

                           (i)      Calculation of Gross Profit.  "Gross Profit"
                                    ---------------------------
                  shall be calculated by Licensee within thirty (30)days after
                  the end of each calendar quarter during the Term and shall be
                  determined as follows:

                                    (A) Sales Price less the sum of (1) the Cost
                           of Goods Sold (as defined herein), (2) any royalty
                           fee imposed (i) by a court, or (ii) in connection
                           with a settlement agreement, within the Territory
                           that determines that the Covered Products sold by
                           Licensee infringe the intellectual property rights of

<PAGE>

                           a third party not affiliated with Licensee or
                           resolves any such dispute, as applicable, and (3)
                           distribution discounts and sales commissions
                           associated with the Covered Products; provided,
                           however, for purposes of this calculation
                           distribution discounts and sales commissions that
                           exceed 35% of gross sales shall not be considered for
                           purposes of calculating Gross Profits. For purposes
                           of this Agreement, the term "Sales Price" shall mean
                           the total invoiced amount of all sales of the Covered
                           Products less any credits for returns actually made
                           and supported by credit memoranda issued to the
                           customer;

                                    (B) for purposes of determining Gross
                           Profit, the Sales Price shall include all amounts
                           invoiced by Licensee or LaserSight which are the
                           result of sales of Covered Products and other
                           components which are related to the Covered Products.
                           For purposes of this Agreement, the term "Covered
                           Products" shall mean: (A) a Keratome (as defined
                           herein) with gear box, suction ring, and suction
                           handle, (B) motor, (C) motor power cord, (D)
                           tonometer, (E) suction and power supply, (F) foot
                           switch, (G) tubing, (H) user's manual, (I) sterile
                           packaging, (J) control consoles, (K) blades, (L)
                           replacement parts, (M) lid speculum, and other
                           component parts which are manufactured utilizing the
                           Licensed Patents and/or the Licensed Technology. For
                           purposes of this Agreement, the term "Keratome" shall
                           mean Licensee's UniShaperTM keratome, UltraShaperTM
                           keratome and any other keratome manufactured,
                           distributed or sold by Licensee or LaserSight.

                           (ii) Cost of Goods Sold. "Cost of Goods Sold" shall
                                ------------------
                  include (i) the manufacturing costs from an OEM vendor of the
                  Covered Products, (ii) packaging costs associated with the
                  manufacture and distribution of the Covered Products, (iii)
                  sterilization costs associated with the Covered Products, and
                  (iv) shipping costs associated with the Covered Products. Any
                  rebates and commissions from manufacturers, distributors or
                  other sources shall be deducted from the Cost of Goods Sold.

                           (iii) Minimum Quarterly Payment Adjustment.
                                 ------------------------------------
                  Notwithstanding anything set forth herein to the contrary,
                  each Minimum Quarterly Payment shall be subject to adjustment
                  as follows (the "Minimum Quarterly Payment Adjustment"):

                                    (A) if at any time during the Extended
                           Period or a Renewal Term, (A) a royalty is imposed in
                           connection with the sale of the Device, or (B) a
                           Patent Dispute arises, the amount of the Minimum
                           Quarterly Payment then in effect shall be reduced to
                           the amount resulting from multiplying such Minimum
                           Quarterly Payment times eighty percent (80%). Any
                           such adjustment shall remain in effect until such
                           time as the Patent Dispute is finally resolved in a
                           manner acceptable to Licensee or the royalty is no
                           longer imposed in connection with the sale of the
                           Device, as the case may be. If the Minimum Quarterly
                           Payment is reduced as result of a Patent Dispute such

<PAGE>

                           reduction shall only affect the Minimum Quarterly
                           Payment prospectively. If the duration of any such
                           event or events described above is less than a
                           calendar year, any such adjustment shall be pro-rated
                           based on the number of months during which such event
                           is continuing; and

                                    (B) unless the payment of the Minimum
                           Quarterly Payments is accelerated in accordance with
                           Section 5(d)(v), for each calendar quarter ending
                           during the Extended Period the Minimum Quarterly
                           Payment to be paid for the next succeeding calendar
                           quarter will be increased to an amount equal to the
                           amount of the Quarterly Gross Profit Payment paid in
                           connection with the immediately preceding calendar
                           quarter if (1) the amount of the Quarterly Gross
                           Profit Payment paid for the immediately preceding
                           calendar quarter exceeds the amount of the Minimum
                           Quarterly Payment for the immediately following
                           calendar quarter, and (2) the cumulative amount of
                           all Quarterly Gross Profit Payments, Fixed Quarterly
                           Payments and Minimum Quarterly Payments, as
                           applicable, paid to Licensors from the period
                           commencing January 1, 2001 continuing through the end
                           of the immediately preceding calendar quarter (the
                           "Reconciliation Period") is less than 10% of the
                           cumulative amount of all Gross Profits earned by
                           Licensee during the Reconciliation Period. If either
                           of the requirements described in item (1) or (2) of
                           the immediately preceding sentence is not applicable
                           then the amount of the applicable Minimum Quarterly
                           Payment will not be increased. For example:

                           Scenario 1

                           Assumptions:

                              o     3rd Quarter 2002 Quarterly Gross Profit
                                    Payment =  $370,000.

                              o     4th Quarter 2002 Minimum Quarterly Payment =
                                    $250,000.

                              o     the cumulative amount of all Quarterly Gross
                                    Profit Payments, Fixed Quarterly Payments
                                    and Minimum Quarterly Payments paid to
                                    Licensors during the Reconciliation Period
                                    is greater than 10% of the cumulative amount
                                    of all Gross Profits earned by Licensee
                                    during the Reconciliation Period.

                           Result:  No change in the amount of the Minimum
                                    Quarterly Payment for the 4th Quarter 2002.

                           Scenario 2

                           Assumptions:

                              o     3rd Quarter 2002 Quarterly Gross Profit
                                    Payment =  $370,000.

                              o     4th Quarter 2002 Minimum Quarterly Payment =
                                    $250,000.

<PAGE>

                              o     the cumulative amount of all Quarterly Gross
                                    Profit Payments, Fixed Quarterly Payments
                                    and Minimum Quarterly Payments paid to
                                    Licensors during the Reconciliation Period
                                    is less than 10% of the cumulative amount of
                                    all Gross Profits earned by Licensee during
                                    the Reconciliation Period.

                           Result:  The amount of the Minimum Quarterly Payment
                                    for the 4th Quarter 2002 would be increased
                                    to $370,000.

                           Scenario 3

                           Assumptions:

                              o     4th Quarter 2002 Minimum Quarterly Payment
                                    was increased to $370,000, as described
                                    above.

                              o     4th Quarter 2002 Gross Profit Payment =
                                    $225,000.

                              o     1st Quarter 2003 Minimum Quarterly Payment =
                                    $250,000.

                              o     the cumulative amount of all Quarterly Gross
                                    Profit Payments, Fixed Quarterly Payments
                                    and Minimum Quarterly Payments paid to
                                    Licensors during the Reconciliation Period
                                    is less than 10% of the cumulative amount of
                                    all Gross Profits earned by Licensee during
                                    the Reconciliation Period.

                           Result:  No change in the amount of the Minimum
                                    Quarterly Payment for the 1st Quarter 2003.

                           (iv) Quarterly Gross Profit Payment Reconciliation.
                                ---------------------------------------------
                  During the thirty (30) day period after the end of each
                  calendar quarter commencing with the calendar quarter ending
                  September 30, 2002, Licensee shall calculate the amount of the
                  Quarterly Gross Profit Payment that would be payable to
                  Licensors for the immediately preceding calendar quarter, and
                  if the amount of the Quarterly Gross Profit Payment exceeds
                  the Minimum Quarterly Payment for the applicable calendar
                  quarter, Licensee shall pay to the Licensors the amount of the
                  Quarterly Gross Profit Payment in accordance with this Section
                  5(d).

                           (v) Acceleration of Fixed and Minimum Quarterly
                               -------------------------------------------
                  Payments. If prior to July 31, 2002 LaserSight, through an
                  --------
                  underwritten public offering or through a single private
                  placement transaction, raises at least $25,000,000 in proceeds
                  through the sale of Common Stock, then within five (5) days
                  after the closing of such a transaction, LaserSight shall pay,
                  in a single lump sum, the aggregate amount of each then unpaid
                  Fixed Quarterly Payment that is to be paid during the Fixed
                  Quarterly Payment Period and Minimum Quarterly Payment that is
                  to be paid during the Extended Period. If the payment of the
                  Fixed Quarterly Payments and the Minimum Quarterly Payments is
                  accelerated as described in this Section 5(d)(v), then the
                  Licensors shall be entitled to receive only that portion of

<PAGE>

                  the Quarterly Gross Profit Payments that exceed the Minimum
                  Quarterly Payments that would have been made during applicable
                  quarter of the Extended Period.

                  (e)      Licensee, at its sole cost and expense, will use all
        its reasonable efforts to repair the LaserScan 2000 excimer laser
        currently in Louis A. Ruiz's, M.D. possession to working condition.

                  (f) Licensee shall take possession of that certain LaserScan
        LSX(R) System (the "Laser Unit") previously delivered to Dr. Ruiz.
        Licensors shall cooperate with Licensee in delivering the Laser Unit to
        a location designated by Licensee, and Licensee shall be responsible for
        the payment of the shipping costs associated with Licensee taking
        delivery of the Laser Unit. Licensors acknowledge and agree that after
        the Laser Unit is delivered to Licensee, Licensors shall have no right,
        title or interest in or to the Laser Unit.

         6.       Statement, Payments and Penalties.
                  ---------------------------------

                  (a) During the Term, no later than thirty (30) days after each
         calendar quarter ending in March, June, September and December,
         Licensee shall submit to Licensors full and accurate statements (each a
         "Quarterly Statement") showing the quantity, description, Cost of Goods
         Sold, and Gross Profits relating to the Covered Products distributed
         and/or sold during the applicable calendar quarter then ended,
         including any additional information kept in the normal course of
         business by Licensee which is appropriate to enable an independent
         determination of the amount due hereunder with respect to the Covered
         Products. All Quarterly Gross Profit Payments or the Fixed Quarterly
         Payments or Minimum Quarterly Payments, as applicable, then due shall
         be made simultaneously with the submission of each Quarterly Statement.
         Quarterly Statements shall be submitted whether or not they reflect any
         sales or whether any Quarterly Gross Profit Payment need be made.

                  (b) Failure to submit timely or accurate Quarterly Statements,
         Quarterly Gross Profit Payments or Fixed Quarterly Payments or Minimum
         Quarterly Payments, as applicable shall result in an additional charge
         of 1% per month on any balance unpaid as of the applicable reporting
         period or the maximum allowed by applicable law, whichever is lower.

                  (c) The receipt and/or acceptance by Licensors of the
         Quarterly Statements, Quarterly Gross Profit Payments, Fixed Quarterly
         Payments or Minimum Quarterly Payments or any payments paid hereunder,
         shall not preclude Licensors from questioning the correctness thereof.
         In the event that any inconsistencies or mistakes are discovered in
         Quarterly Statements or payments, they shall immediately be rectified
         by Licensee and the appropriate payment shall be made by Licensee.

<PAGE>

                  (d) Licensee shall, unless otherwise directed in writing by
         Licensors, send all Quarterly Gross Profit Payments, payments of the
         Fixed Quarterly Payment or Minimum Quarterly Payment, as applicable, by
         wire transfer as directed by Licensors, and shall send all statements
         to Licensors by mail and facsimile transmission with delivery confirmed
         to the addressee at the addresses set out in Section 25.

         7.       Records and Right to Audit.
                  --------------------------

                  (a) Licensee each shall keep, maintain and preserve in its
         principal place of business during the Term, any renewal periods and at
         least five (5) years following termination or expiration, complete and
         accurate books, accounts, records and other materials covering all
         transactions related to this Agreement in a manner such that the
         information contained in the statements referred to in Section 6 can be
         readily determined including, without limitation, customer records,
         invoices, correspondence and banking, financial and other records in
         Licensee's possession or under its control. Licensors may designate an
         independent auditor or auditors and such independent auditor or
         auditors shall have the right to inspect and audit all materials
         related to this Agreement, subject to the confidentiality requirements
         set forth in Section 23.

                  (b) Such materials shall be available for inspection and audit
         (including photocopying) at any time during (i) the Term, and (ii) the
         period six (6) months immediately following Licensors receipt of its
         final payment due hereunder in the event of termination or expiration;
         however, such inspection or audit shall not occur more often than once
         every twelve (12) months during the Term, and shall take place during
         reasonable business hours and upon at least five (5) days notice by
         Licensors and/or their representatives. Licensee will cooperate and
         will not cause or permit any interference with Licensors and/or their
         representatives in the performance of their duties of inspection and
         audit. Licensors, and/or their representatives, shall have free and
         full access to said materials for inspection and audit purposes.

                  (c) Should any audit indicate an underpayment of five percent
         (5%) or more of the Quarterly Gross Profit Payments due Licensors for
         the period since (i) the Commencement Date, or (ii) date of the last
         audit, whichever is later, the reasonable cost of the audit shall be
         paid by Licensee. Should any audit indicate an underpayment of ten
         percent (10%) or more, during the same period, Licensee shall pay
         Licensors an additional fee equal to ten percent (10%) of the
         underpayment. Payment of the audit cost and any additional fees is in
         addition to the full amount of any underpayment, including interest as
         provided in Section 6(b), shall be paid by Licensee if the results of
         such audit indicate an underpayment of ten percent (10%) or more.
         Licensee shall cure any contract breaches discovered during the audit,
         provide amended reports if required, and submit the amount of any
         underpayment including interest, additional fees and, if applicable,
         the cost of the audit within sixty (60) days from the date of the
         delivery to Licensee of the results of the audit.

         8.       Disclosure of Licensed Patents/Licensed Technology. Upon
                  --------------------------------------------------
execution of this Agreement, Licensors shall promptly disclose to Licensee all
information it possesses relating to the Licensed Patents and the Licensed

<PAGE>

Technology. Licensors shall continue to provide any technical assistance
reasonably requested by Licensee from time to time during the Term.

         9.       Maintenance of Patents.  Licensors shall be responsible for
                  ----------------------
all payments, including, without limitation, payments ofmaintenance fees,
required to keep the Licensed Patents in force for their full terms.

        10.       Additional Filings; Approvals. If Licensee (i) desires to
                  -----------------------------
market the Devices in any country where regulatory approval is required but not
granted as of the Effective Date, (ii) desires to obtain patent protection
relating to any further discoveries, inventions, technology, know-how,
enhancements, improvements, modifications or other developments relating to the
Licensed Patents or the Licensed Technology in any country where such patent
protection may be granted and has not been granted as of the Effective Date, or
(iii) is required to file with any governmental or other licensing agency any
form or application related to the Devices, including without limitation, the
filings or applications described in Section 22(a), Licensors shall provide all
assistance reasonably necessary to enable Licensee to obtain such regulatory
approval, licensing approval or patent protection, as the case may be. The costs
of obtaining all relevant approvals or protection shall be borne solely by
Licensee.

         11.      Patent Litigation.
                  -----------------

                  (a) Infringement of the Licensed Technology. Should Licensee
                      ---------------------------------------
         or Licensors learn of any infringements of the Licensed Patents or the
         Licensed Technology or any part thereof by any third party, they or it
         shall promptly notify the other party. Licensors shall have the sole
         right but not the obligation to pursue such infringements. Should
         Licensors pursue such an infringement, Licensee will cooperate therein
         as reasonably requested by  Licensors. If any monetary settlement or
         judgment is obtained as a result of a suit for infringement, the
         proceeds obtained shall be the sole property of Licensors.

                  If Licensors decline to pursue such an infringement, Licensee
         may institute and prosecute suits for infringement in its own name and
         at its own expense, and Licensors will join as parties plaintiff in
         such suits and cooperate therein as reasonably requested by Licensee.
         If any monetary  settlement or judgment is obtained as a result of a
         suit for infringement, the proceeds obtained shall be applied first to
         recover Licensors' and Licensee's reasonable expenses in proportion to
         the amount each expended in such suit, and any excess proceeds shall be
         equally divided between Licensee and Licensors.

                  (b) Defense of Licensed Technology. With the exception of the
                      ------------------------------
         Litigation, should any litigation by a third party against Licensee
         alleging that the manufacture, use or sale of the Device infringes any
         patent or rights under a patent of such third party arise, Licensee
         shall promptly notify licensors of such litigation, and Licensors shall
         defend and/or settle such litigation at their sole cost and expense;
         provided however, the terms and conditions of any such settlement which
         affect the rights and/or obligations of Licensee under this Agreement
         shall be subject to Licensee's

<PAGE>

prior approval. In addition, Licensors shall indemnify and hold harmless
Licensee for any costs and expenses incurred by Licensee in connection with such
third party litigation including, without limitation, reasonable attorneys'
fees, expert witness fees and accounting fees.

         12.      Representations and Warranties.
                  ------------------------------

                  (a)      Licensors.  Licensors, and each of them, represent,
                           ---------
warrant and covenant:

                           (i)   that they are the sole and exclusive owners of
                  the Licensed Patents and Licensed Technology and that they
                  have full legal capacity, power and authority to (A) enter
                  into this Agreement, (B) fully perform all of their
                  obligations hereunder, and (C) grant the license concerning
                  the Licensed Patents and Licensed Technology in the Territory,
                  provided, however, Licensors make no representation or
                  warranty concerning the Licensed Patents and Licensed
                  Technology outside the Territory;

                           (ii)  that to their knowledge all of the Licensed
                  Patents and the Licensed Technology known to Licensors has
                  been or will be promptly disclosed to Licensee and included
                  in the license granted hereunder;

                           (iii) that Exhibit A represents a complete and
                  accurate list of all jurisdictions and registration numbers
                  related to such jurisdictions where the Licensed Patents have
                  been registered, and there are no other jurisdictions where
                  the Licensed Patents have been registered or an application
                  for registration has been made;

                           (iv)  that except for the license granted to Chiron
                  Vision Corporation pursuant to that certain Amended and
                  Restated License Agreement dated effective January 1, 1994,
                  they have not, individually or collectively, previously
                  licensed, used or disclosed the Licensed Patents or the
                  Licensed Technology or any part thereof anywhere in the world,
                  and during the Term will not license or consent to any
                  additional license or sublicense of the Licensed Patents;

                           (v)   that to their knowledge no part of the
                  Licensed Patents or the Licensed Technology is being infringed
                  in the Territory;

                           (vi)  that to their knowledge each of the Licensed
                  Patents are valid and enforceable, and no part of the Licensed
                  Technology will infringe the rights of any third parties in
                  the Territory;
<PAGE>

                           (vii) that prior to the Commencement Date the
                  disposable microkeratome will have been adequately tested and
                  shall be safe and effective for its intended use provided it
                  is properly used by qualified surgeons specialized in
                  refractive surgery.

                  (b)      Licensee.  Licensee represents, warrants and
                           --------
covenants:

                           (i)   that it has the full legal power and authority
                  to enter into this Agreement and to fully perform all of its
                  obligations hereunder;

                           (ii)  that its performance hereunder will ccomply
                  with all applicable laws, ordinances, regulations and codes;

                           (iii) Licensee shall use its best efforts to continue
                  the bona fide manufacture, distribution and sale of the
                  Covered Products during the Term; and

                           (iv)  during the Term, Licensee shall not tie the
                  sale of the Device to any other product.

         13.      Termination.
                  -----------

                  (a)      Termination by Licensors.  This Agreement may be
                           ------------------------
                  terminated by Licensors in the event any of the following
                  defaults occur:

                           (i) Licensee fails to make any payment due or fails
                  to deliver any required statement, and fails to cure such
                  default within fifteen (15) days from receipt of notice from
                  Licensors; provided, however, Licensors and Licensee
                  acknowledge and agree that an underpayment of any Gross Profit
                  Payment shall not constitute a failure to make a payment
                  hereunder;

                           (ii) Licensee attempts to grant or grants a
                  sublicense other than as provided pursuant to Section 31 or
                  attempts to assign or assigns any right or duty under this
                  Agreement to any person or entity without the prior written
                  consent of Licensors;

                           (iii) Licensee, or any related entities, manufacture,
                  distribute or sell any products infringing upon or competing
                  with the Licensed Patents. Nothing herein is intended to
                  prohibit or restrict Licensee, or any related entities, from
                  continuing to sell their existing products, the Covered
                  Products or their utilization or disposition of  the Kremer
                  Patent; and

                           (iv) Licensee materially breaches any provision in
                  this Agreement in addition to those set out above in this
                  section, and fails to cure such breach within thirty (30) days
                  from receipt of notice from Licensors.

<PAGE>

                  (b)      Termination by Licensee. Licensors materially breach
                           -----------------------
         any provision in this Agreement, and fail to cure such breach within
         thirty (30) days from receipt of notice from Licensors.

         14.      Effect of Expiration or Termination.
                  -----------------------------------

                  (a) Other Rights/Remedies. Any termination of this Agreement
                      ---------------------
         will be without prejudice to the rights and remedies of either party
         with respect to any provisions or covenants arising out of breaches
         committed prior to such termination.

                  (b) Effect of Expiration or Termination. On the date (the
                      -----------------------------------
         "Termination Date") which is ninety (90) days after expiration or
         termination of this Agreement for any reason Licensee shall immediately
         cease all further use of the Device, the Licensed Patents or the
         Licensed Technology, directly or indirectly, or any derivation of the
         Device, the Licensed Patents or the Licensed Technology. Until payment
         to Licensors of any monies due it, Licensors shall have a lien on any
         units of Device not then disposed of by Licensee and on any monies due
         Licensee from any person or firm with respect to sales of the Covered
         Products.

                  (c) Acceleration of Payments. If Licensee or LaserSight
                      ------------------------
         defaults on any of their respective payment obligations described in
         this Agreement and such default is not cured within fifteen (15) days
         from receipt of notice from Licensors, then, in addition to any other
         rights the Licensors may have under this Agreement, the following
         amounts would become immediately due and owing by Licensee: (i) a lump
         sum amount equal to the aggregate amount of each then unpaid Fixed
         Quarterly Payment that is to be paid during the Fixed Quarterly Payment
         Period and Minimum Quarterly Payment which is to be paid during the
         Extended Period, as applicable, and (ii) the attorney's fees (up to a
         maximum of $250,000) incurred by the Licensors in connection Civil
         Action No. 00-896-A that was filed in the United States District Court
         for the Eastern District of Virginia, Alexandria Division.
         Notwithstanding the foregoing, Licensors and Licensee acknowledge and
         agree that an underpayment of any Quarterly Gross Profit Payment shall
         not constitute a failure to make a payment hereunder.

                  (d) Disposal of Inventory. After the Termination Date,
                      ---------------------
         Licensee shall have no further right to manufacture the Device or other
         products utilizing the Licensed Patents or the Licensed Technology, but
         may continue to distribute its remaining inventory of Devices in
         existence at the time of expiration or termination for a period of
         ninety (90) days, provided all statements (including the Final
         Statement (as defined herein)) and payments then due have been
         delivered and that during the disposal period Licensee deliver all
         statements and payments due in accordance with Sections 6 and comply
         with all other terms and conditions of this Agreement. Licensors shall
         have the option for thirty (30) days (the "Option Period"), to purchase
         all remaining stock after said ninety (90) day period at a price which

<PAGE>

         shall equal Licensee's actual Cost of Goods Sold. During the Option
         Period, Licensee shall not sell its remaining inventory of Devices in
         liquidating its inventory at a price that is less than that charged by
         Licensee to its normal distribution network during the Term. In the
         event Licensors elect not to purchase Licensee's remaining inventory,
         Licensee will destroy any remaining inventory within thirty (30) days.

                  (e) Reversion of Rights. After the Termination Date, all
                      -------------------
         rights granted to Licensee in this Agreement shall revert to Licensors,
         including, but not limited to, the right to manufacture and sell
         Devices. Nothing contained herein shall be construed to allow Licensee
         to utilize the Licensed Patents or the Licensed Technology after the
         Termination Date.

                  (f) Final Statement. Thirty (30) days before the expiration of
                      ---------------
         this Agreement, Licensee shall furnish a statement to Licensors showing
         the number and description of Devices on hand or in process (the "Final
         Statement"). If this Agreement is terminated for any reason, such
         statement shall be furnished within thirty (30) days after notice of
         termination. Licensors shall have the right to conduct physical
         inventories to ascertain or verify the amount of remaining inventory.

         15.      Survival of Rights.
                  ------------------

                  (a) The terms and conditions of this Agreement necessary to
         protect the rights and interests of Licensors in the Licensed Patents
         and the Licensed Technology and the Device including, but not limited
         to, Licensee's obligations under Sections 3, 7, 11, 14, 15, 18, 19, 21
         and 23, shall survive the termination or expiration of this Agreement.

                  (b) The terms and conditions of this Agreement providing for
         any activity following the effective date of termination or expiration
         of this Agreement shall survive until such time as those terms and
         conditions have been fulfilled or satisfied.

         16.      Marketing Strategy.  Licensee shall be responsible for funding
                  ------------------
the development and implementation of a sales and marketing strategy related to
the Covered Products.

         17.      Additional Obligations.  Nothing contained in the Agreement or
                  ----------------------
the Amendment shall be construed to prohibit Licensee from manufacturing,
distributing, marketing, promoting in any manner, or selling any keratome,
whether or not such keratome is covered by claims of the Licensed Patents or
Licensed Technology.

         18.      Mold Use and Manufacture. Licensors agree to provide Licensee
                  ------------------------
with single cavity limited production molds ("Limited Production Molds") capable
of producing disposable microkeratomes which are safe and effective for their
intended use. Licensors and Licensee shall share equally in the cost of
manufacturing the Limited Production Molds. In the event the Limited Production
Molds need to be replaced, as determined by the manufacturer thereof, Licensors
and Licensee shall share equally in the cost of such replacement.

<PAGE>

         The Licensee shall be solely responsible for the design, manufacture,
engineering, tooling and testing of the dual cavity, automatic production molds
(the "Final Production Molds") capable of producing disposable microkeratomes
which are safe and effective for their intended use and shall pay the entire
cost thereof, including all unpaid amounts currently owed therefor. In the event
the Final Production Molds need to be replaced, as determined by the
manufacturer thereof, Licensee shall be solely responsible for the cost of such
replacement.

         The Licensors acknowledge and agree that the Final Production Molds
shall be the sole and exclusive property of Licensee. After the Termination Date
(as defined in the Agreement) Licensee agrees to entertain any reasonable offer
from Licensors for the purchase of the Final Production Molds. If, after the
Termination Date, Licensee receives a bona fide offer from a licensee of the
Licensed Patents or the Licensed Technology for the purchase of the Final
Production Molds (the "Offer"), Licensee shall notify Licensors of the existence
and terms and conditions of the Offer. Licensors shall have ten (10) days after
receipt of such notice from Licensee to notify Licensee that Licensors desire to
purchase the Final Production Molds on the same terms and conditions as set
forth in the Offer. If Licensors fail to notify Licensee within said ten (10)
day period, Licensors shall be deemed to have elected not to exercise its option
hereunder. Licensee shall then be free to accept the Offer, but only from such
prospective purchaser and in strict accordance with the terms and conditions of
the Offer. In no event and under no circumstances shall Licensee or LaserSight
sell or transfer the Final Production Molds to any person or entity to whom or
which Licensors have not granted a license to the Licensed Patents or Licensed
Technology.

         19.      Return of Molds.  Within fifteen (15) days following the
                  ---------------
Termination Date, Licensee shall return the Limited Production Molds to
Licensors.

         20.      Payment of Taxes. Licensors represent that they are not
                  ----------------
subject to any such tax and no taxes should be deducted, however, if any tax is
lawfully imposed and Licensee is required by law to withhold it, Licensee shall
notify Licensors in order to allow Licensors to contest such imposition. All
consideration paid to Licensors pursuant to this Agreement shall not take into
account any national, federal, state, province, municipal or other government
excise, sales, use, occupational or like taxes, duties, customs or penalties now
in force or enacted in the future (collectively, a "Tax"). If any Tax is
imposed, Licensors shall be responsible for the payment of such Tax. If Licensee
is required by law, rule or regulation to pay or withhold any Tax in connection
with any consideration paid to Licensors pursuant to this Agreement, Licensee
shall be entitled to reduce the applicable Fixed Quarterly Payment or Minimum
Quarterly Payment, as applicable, by the amount of any such Tax paid or withheld
by Licensee during the applicable year. The parties agree to use reasonable
efforts to pursue any certificate of exemption or similar document or proceeding
if advised by counsel that consideration paid to Licensors pursuant to this
Agreement may be exempted from any Tax.

         21.      Product Liability. Licensee agrees to indemnify, defend and
                  -----------------
hold Licensors their successors and assigns harmless from and against any and
all liability, loss, damage, cost or expense (including reasonable attorneys'
fees and disbursements) arising out of any claims of personal injury or property
damage based on the use, manufacture or sale of the Covered Products
manufactured and sold by Licensee, their subsidiary, affiliated and controlled
companies. At all times during the Term, Licensee shall procure and maintain

<PAGE>

product liability insurance coverage related to the Covered Products sold
pursuant to this Agreement in the amount of $2 million per year in the
aggregate. Licensee shall cause Licensors to be named as additional insureds
under any such insurance policy. Evidence of insurance coverage will be made
available to Licensors upon request.

         22.      Additional Obligations-Liquidated Damages.  Upon execution of
                  -----------------------------------------
this Agreement, Licensors shall deliver and/or provide to Licensee or its
designee:

                  (a) all engineering and manufacturing drawings, diagrams,
         schematics, reports and specifications, bill of materials, testing
         procedures and testing data, assembly instructions and other related
         items utilized in connection with the manufacture of the Device and the
         Covered Products, technical support in connection with the filing of
         United States Food and Drug Administration ("FDA") form 510(k) and
         application for CE mark; assistance in establishing and, thereafter,
         maintaining the design and associated documentation of the Covered
         Products; and

                  (b) purchase orders for the Molds relating to the Device as
may be necessary for the manufacturer to achieve project schedules.

Licensors acknowledge and agree that Licensee would incur substantial damages in
the event Licensee reasonably determines that Licensors have not satisfied their
obligations set forth in Section 18 and/or this Section 22, and that such
damages would be difficult to calculate. Licensors further acknowledge and agree
that all amounts of money paid and all other property previously paid or
delivered to Licensors by Licensee is a reasonable estimate of Licensee's
damages in the event of default by Licensors pursuant to Section 18 and/or this
Section 22.

         23.      Confidentiality. Both during and after the Term, none of the
                  ---------------
parties shall in any manner, directly or indirectly, disclose or divulge to any
person or entity (other than such party's employees, agents or consultants) any
information related to the Licensed Patents, the Licensed Technology or other
confidential and proprietary trade secret information disclosed to them pursuant
to this Agreement; provided, that such confidentiality obligations will not
apply to (a) matters of public knowledge in the industry; (b) matters known or
disclosed to any party under no obligation of confidentiality either before
entering this Agreement or thereafter; (c) matters which are required to be
disclosed or divulged by law; and (d) matters which the parties hereto mutually
agree in writing to disclose.

         24.      Force Majeure. Neither party shall be liable for failure to
                  -------------
perform hereunder if such failure is occasioned by any cause beyond such party's
control, including, without limitation, war or civil disturbance, fire, flood,
accident, explosion, interruption of transportation, embargo, inability to
procure or shortage of materials or equipment, interruption of production
facilities, governmental order or regulation (including, without limitation, the
FDA), or labor dispute. Suspension of a party's performance for any such cause
shall be limited to the period of time during which such cause is in effect,
plus a reasonable time thereafter. Such suspension shall not affect the running
of the Term and shall not be regarded as a breach of this Agreement.

<PAGE>

         25.      Notice. Every notice, request, demand, and other communication
                  ------
contemplated by this Agreement shall be in writing and deemed to have been made
either when personally delivered to the respective party, or three days after it
is deposited, postage prepaid, with an express mail service, or 10 days after it
is deposited, postage prepaid, in the United States mail to the addresses stated
below or such changed address as any party may give by written notice to the
other, provided that concurrently with such deposits a copy of any notice is
sent by telefacsimile:

         If to LICENSORS:  Luis A. Ruiz, M.D. and
                           Sergio Lenchig
                           Calle 120 No. 20A-44, Apartment 401
                           Santafe de Bogota, Colombia
                           South America
                           Facsimile: 57-1-629-3229 - Attn: Sergio Lenchig
                           Facsimile: 57-1-218-5730 - Attn: Luis A. Ruiz, M.D.

         with a copy to:   Allan S. Buffenstein, Esq.
                           McCandlish Kaine 1111 East Main Street, 15th Floor
                           Richmond, Virginia 23219
                           Facsimile: 804-775-3800

         If to LICENSEE:   LaserSight Technologies, Inc.
                           12249 Science Drive, Suite 160
                           Orlando, Florida 32826
                           Attention:  President
                           Facsimile: 407-382-2701

         with a copy to:   Timothy L. Elliott, Esq.
                           The Lowenbaum Partnership, L.L.C.
                           222 South Central Avenue, Suite 901
                           St. Louis, Missouri 63105
                           Facsimile: 314-746-4848

         26.      Waiver. Neither waiver by either party of any breach or
                  ------
default under this Agreement by the other party, nor the failure of either party
to exercise promptly its rights in the event of such breach or default, shall be
construed as a waiver of any subsequent breach or default, or of any term,
condition or provision of this Agreement.

         27.      Attorneys Fees. In the event that either party incurs costs
                  --------------
and fees, including attorneys' fees, in enforcing its or their rights under this
Agreement, the party substantially prevailing in any suit or action, including
any appeal, shall be entitled to recover from the other such costs and
attorneys' fees.

         28.      Severability.  Each provision hereof is intended to be
                  ------------
shall not severable and the invalidity or illegality of any portion of this
Agreement affect the validity or legality of the remainder hereof.

<PAGE>

         29.      Governing Law. The validity, formulation, interpretation and
                  -------------
performance of this Agreement shall be governed by the laws of the State of
Virginia, without giving effect to choice of law principles. The parties do
hereby irrevocably submit themselves to the personal jurisdiction of the United
States Federal Court for the Eastern District of Virginia, Richmond Division and
do hereby irrevocably agree to service of such court's process upon them, and
with respect to Licensors, on their counsel, Allan S. Buffenstein of McCandlish
Kaine, so long as they remain counsel to Licensors and thereafter until such
time as it is verified to Licensee in writing that Licensors' successor counsel
has agreed to accept such service on Licensors' behalf.

         30.      Entire Agreement. This Agreement represents the entire
                  ----------------
agreement between the parties hereto with respect to the subject matter hereof,
and supersedes all prior or contemporaneous understandings between the parties,
including, without limitation, the Original Agreement and the Amendment. The
parties agree that neither party has any right, claim or interest under the
Original Agreement or the Amendment that is not specifically reflected in this
Agreement. This Agreement may not be amended, supplemented or modified except by
a subsequent written agreement signed by both parties hereto.

         31.      Assignment. This Agreement and all rights granted pursuant to
                  ----------
its terms shall be personal to Licensee and shall not be assigned, sublicensed
or transferred in whole or in part without the prior written consent of
Licensors; provided, however, Licensee may assign or transfer its interest in
this Agreement in connection with the sale or transfer of all or substantially
all of its assets. Licensors may assign this Agreement, in whole or in part,
provided that Licensors agree to continue to provide technical assistance to
Licensee under Section 8(a). Licensee may sublicense the Patents only for the
purpose of having the Device manufactured and/or in order to sell and distribute
the Device and for no other purpose whatsoever.

         32.      Counterparts.  This Agreement may be executed in one or more
                  ------------
counterparts, each of which shall be deemed an original and all of which shall
be deemed one and the same instrument.  The English language version of this
Agreement shall be the official version of this Agreement.

         33.      Captions.  The captions contained herein are intended for
                  --------
convenience of reference only and shall not be used to interpret any of the
terms or provisions hereof.

         34.      Additional Documents.  The parties hereto agree to execute,
                  --------------------
acknowledge and deliver such further documents as may be necessary or proper to
carry out the purpose and intent of this Agreement.

                  [Remainder of page intentionally left blank]

<PAGE>

         IN WITNESS WHEREOF, the parties hereto, by their respective duly
authorized officers, have executed this Agreement as of the date first written
above.

LICENSORS:                                LUIS A. RUIZ, M.D.

                                          /S/Luis A. Ruiz, M.D.
                                          -------------------------
                                          Luis A. Ruiz, M.D.

                                          SERGIO LENCHIG

                                          /s/Sergio Lenchig
                                          -------------------------
                                          Sergio Lenchig

LICENSEE:                                 LASERSIGHT TECHNOLOGIES, INC.

                                          By: /s/Michael R. Farris
                                            -----------------------
                                            Michael R. Farris, CEO

         The undersigned hereby unconditionally guarantees the payment of the
sums described in Section 5 of this Agreement as and when such sums become due
and payable according to the terms thereof. In case of failure of Licensee to
pay the obligations guaranteed hereby, the undersigned agrees to cause such
payment to be made as and when the same shall become due and payable, in the
manner specified in this Agreement and as if such payment were made by Licensee.
The undersigned agrees to those terms of this Agreement which pertain to the
performance by the undersigned. This is a guarantee of payment, not of
collection.

                                          LaserSight Incorporated

                                          By: /s/Michael R. Farris
                                            -----------------------
                                            Michael R. Farris
                                            President and CEO

<PAGE>

                                    EXHIBIT A

                                Licensed Patents

ISSUED PATENTS:

1.  United States: U.S. Patent No. 5,133,726/RE35,421
    -------------

2.  Brazil: Pat. No. PI9001714
    ------

3.  Columbia: Pat. No. 144267
    --------

4.  Taiwan: Pat. No. 179735
    ------

5.  Portugal: 94986
    --------

6.  Germany: Pat. No. 69005285 (derived from EPO Patent 442156)
    -------

7.  Spain: Pat. No. 2048415 (derived from EPO Patent 442156)
    -----

8.  Sweden: Pat. No. G94986 (derived from EPO Patent 442156)
    ------

9.  Japan: Pat. No. 1859284
    -----

PENDING PATENT APPLICATIONS:

1.  Austria Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

2.  Belgium Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

3.  Switzerland Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

4.  Denmark Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

5.  France Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

6.  United Kingdom Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

7.  Greece Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

8.  Italy Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

9.  Luxembourg Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

10. Netherlands Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

11. Liechtenstein Patent Appln. No. 90201166.7 (derived from EPO Patent 442156)

<PAGE>

                                    EXHIBIT B

                          REGISTRATION RIGHTS AGREEMENT

<PAGE>

                                            EXHIBIT C

         Calendar Quarter for                                         Payment
         Which Payment is Due            Date Payment is Due1      Requirement2

            (Column 1)                      (Column 2)               (Column 3)

          1st Quarter 2001                   04-30-01                 $325,000
          2nd Quarter 2001                   07-30-01                 $425,000
          3rd Quarter 2001                   10-30-01                 $400,000
          4th Quarter 2001                   01-30-02                 $500,000
          1st Quarter 2002                   04-30-02                 $500,000
          2nd Quarter 2002                   07-30-02                 $500,000
          3rd Quarter 2002                   10-30-02                 $367,000
          4th Quarter 2002                   01-30-03                 $250,000
          1st Quarter 2003                   04-30-03                 $250,000
          2nd Quarter 2003                   07-30-03                 $250,000
          3rd Quarter 2003                   10-30-03                 $250,000
          4th Quarter 2003                   01-30-04                 $250,000
          1st Quarter 2004                   04-30-04                 $250,000
          2nd Quarter 2004                   07-30-04                 $250,000
          3rd Quarter 2004                   10-30-04                 $250,000
          4th Quarter 2004                   01-30-05                 $250,000
          1st Quarter 2005                   04-30-05                 $250,000
          2nd Quarter 2005                   07-30-05                 $250,000
          3rd Quarter 2005                   10-30-05                 $150,000

     4th Quarter 2005 and each          On or before 30 days
 calendar quarter thereafter, if this    after the end of the         $400,000
     Agreement is renewed by             applicable calendar
 Licensee beyond the Initial Term              quarter

1 Payment Date for each Fixed Quarterly Payment, Minimum Quarterly Payment or
  Quarterly Gross Profit Payment, as applicable, which is payable in connection
  with the corresponding calendar quarter indicated in column 1.

2  The amount of each Fixed Quarterly Payment or Minimum Quarterly Payment, as
   applicable, which is payable in connection with the corresponding calendar
   quarter indicated in column 1.

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