Document:

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                                                                   EXHIBIT 10.87

                                    P&R NOTE

$560,000.00                                                       March 29, 2002
                                                         Los Angeles, California

        FOR VALUE RECEIVED, the receipt and sufficiency of which is
acknowledged, Pollet & Richardson, A Law Corporation ("Maker"), hereby promises
to pay to STAAR Surgical Company, or order ("Holder"), at the address designated
on the signature page of this Note, or at such other place as Holder may
designate by written notice to Maker, the principal sum herein below described
("Principal Amount"), together with interest thereon, in the manner and at the
times provided and subject to the terms and conditions described herein.

        1.      PRINCIPAL AMOUNT.

                The Principal Amount means the sum of $560,000.00.

        2.      INTEREST.

                Interest on the Principal Amount from time-to-time remaining
unpaid shall accrue from the Commencement Date (as that term is defined herein)
at the rate of five percent (5%) per annum, compounded annually. Interest shall
be computed on the basis of a three hundred sixty (360) day year and a thirty
(30) day month.

        3.      PAYMENT OF PRINCIPAL AND INTEREST.

                Subject to paragraph 9, below, Maker shall pay the Principal
Amount and all accrued and unpaid interest on the Principal Amount and all other
indebtedness due under this Note in forty-seven (47) equal monthly installments
of ten thousand dollars ($10,000) each, commencing one (1) month from the
Commencement Date, and concluding three (3) years and eleven (11) months from
the Commencement Date, and one (1) payment due four (4) years from the
Commencement Date, for all sums remaining due under this Note (i.e., approx.
$153,552). If the date set for payment by Maker of any installment or other sum
due under this Note falls on a Saturday, Sunday or holiday recognized by either
the United States of America or the State of California, payment under this Note
shall be due on the first subsequent business day.

        4.      COMMENCEMENT DATE.

                The Commencement Date shall be June 1, 2002.

        5.      SECURITY/RELEASE OF SECURITY.

                Maker shall pledge as security for the repayment of all sums
payable under this Note all of Maker's accounts receivable, both those existing
at the time of the execution of this Note and those which come into existence at
a future date prior to the exoneration of this Note. Maker shall execute a
Security Agreement of even date evidencing Holder's security interest in the
accounts receivable. If, at a future date, Maker obtains a line of credit from a
third party, not to exceed $250,000, secured by Maker's accounts receivable,
Holder's security interest in

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Maker's accounts receivable will be subordinated to the security interest of the
party which extends the line of credit to Maker. This Note shall be recourse as
to Maker, but non-recourse as to Maker's shareholders, officers, directors,
agents and employees.

        6.      PREPAYMENTS.

                Maker shall have the right to prepay any portion of the
Principal Amount and interest due without prepayment penalty or premium or
discount.

        7.      MANNER OF PAYMENTS/CREDITING OF PAYMENTS.

                Payments of any amount required hereunder shall be made in
lawful money of the United States or in such other property as Holder, in its
sole and absolute discretion, may accept, without deduction or offset, and shall
be credited first against accrued but unpaid fees and costs, if any, thereafter
against accrued but unpaid interest, if any, and thereafter against the unpaid
balance of the Principal Amount.

        8.      INTEREST ON DELINQUENT PAYMENTS.

                Any payment under this Note not paid when due shall bear
interest at the same rate and method as interest is charged on the Principal
Amount from the due date until paid.

        9.      ACCELERATION UPON DEFAULT.

                At the option of Holder, all or any part of the indebtedness of
Maker hereunder shall immediately become due and payable, irrespective of any
agreed maturity date, upon the happening of any of the following events of
default:

                        (a)     If Maker shall breach any condition or
        obligation imposed on Maker pursuant to the terms of this Note, the
        Settlement Agreement And General Release of even date, or the Security
        Agreement of even date, provided however that if any such breach is
        reasonably susceptible of being cured, Maker shall be entitled to a
        grace period of fifteen (15) days following written notice of such event
        of default to cure;

                        (b)     If Maker shall make an assignment for the
        benefit of creditors;

                        (c)     If a custodian, trustee, receiver, or agent is
        appointed or takes possession of substantially all of the property of
        Maker;

                        (d)     If Maker shall be adjudicated bankrupt or
        insolvent or admit in writing Maker's inability to pay Maker's debts as
        they become due;

                        (e)     if any petition is filed against Maker under the
        Bankruptcy Code and either (A) the Bankruptcy Court orders relief
        against Maker, or (B) such petition is not dismissed by the Bankruptcy
        Court within thirty (30) days of the date of filing;

                        (f)     If any attachment, execution or other writ is
        levied on substantially all of the assets of Maker and remains in effect
        for more than five (5) days; or

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                        (g)     If Maker shall apply for or consent to the
        appointment of a custodian, trustee, receiver, intervenor, liquidator or
        agent of Maker, or commence any proceeding related to Maker under any
        bankruptcy or reorganization statute, or under any arrangement,
        insolvency, readjustment of debt, dissolution, or liquidation law of any
        jurisdiction, whether now or hereafter in effect.

Maker shall notify Holder immediately if any event of default occurs.

        10.     COLLECTION COSTS AND ATTORNEYS' FEES.

                Maker agrees to pay Holder all costs and expenses, including
reasonable attorneys' fees, paid or incurred by Holder in connection with the
collection or enforcement of this Note or any instrument securing payment of
this Note, including without limitation, defending the priority of such
instrument or conducting a trustee sale thereunder. In the event any litigation
is initiated concerning the enforcement, interpretation or collection of this
Note by the parties hereto, the prevailing party in any such proceeding shall be
entitled to receive from the non-prevailing party all costs and expenses
including, without limitation, reasonable attorneys' and other fees incurred by
the prevailing party in connection with such action or proceeding.

        11.     NOTICE.

                Any notice to either party under this Note shall be given by
personal delivery or by express mail, Federal Express, DHL or similar
airborne/overnight delivery service, or by mailing such notice by first class or
certified mail, return receipt requested, addressed to such party at the address
set forth below, or to such other address as either party from time to time may
designate by written notice. Notices delivered by overnight delivery service
shall be deemed delivered the next business day following consignment to such
delivery service. Mailed notices shall be deemed delivered and received in
accordance with this provision three (3) days after deposit in the United States
mail.

        12.     USURY COMPLIANCE.

                All agreements between Maker and Holder are expressly limited,
so that in no event or contingency whatsoever, whether by reason of the
consideration givenwith respect to this Note, the acceleration of maturity of
the unpaid Principal Amount and interest thereon, or otherwise, shall the amount
paid or agreed to be paid to Holder for the use, forbearance, or detention of
the indebtedness which is the subject of this Note exceed the highest lawful
rate permissible under the applicable usury laws. If, under any circumstances
whatsoever, fulfillment of any provision of this Note shall involve transcending
the highest interest rate permitted by law which a court of competent
jurisdiction deems applicable, then the obligations to be fulfilled shall be
reduced to such maximum rate, and if, under any circumstances whatsoever, Holder
shall ever receive as interest an amount that exceeds the highest lawful rate,
the amount that would be excessive interest shall be applied to the reduction of
the unpaid Principal Amount under this Note and not to the payment of interest,
or, if such excessive interest exceeds the unpaid balance of the Principal
Amount under this Note, such excess shall be refunded to Maker. This provision
shall control every other provision of all agreements between Maker and Holder.

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        13.     JURISDICTION; VENUE.

                This Note shall be governed by, interpreted under and construed
and enforced in accordance with the laws of the State of California, excluding
any law relating to the conflict of laws. Any action to enforce payment of this
Note shall be filed and heard solely in Los Angeles County, California.

        14.     BUSINESS PURPOSE.

                This Note is entered into by Maker in connection with a business
transaction and not for personal, family or household purposes.

                                   MAKER:

                                   Pollet & Richardson
                                   A Law Corporation

                                   By: /s/ Erick E. Richardson, Jr.
                                       ----------------------------
                                           Erick E. Richardson, Jr., President

                                   MAKER'S ADDRESS:

                                   10900 Wilshire Boulevard, Suite 500
                                   Los Angeles, California 90024

                                   HOLDER'S ADDRESS:

                                   STAAR SURGICAL COMPANY
                                   1911 Walker Avenue
                                   Monrovia, California 91016
                                   Attn.: Chief Financial Officer

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                                                                   EXHIBIT 10.88

                               SECURITY AGREEMENT

        This Security Agreement (the "Agreement") is made on March 29, 2002 by
Pollet & Richardson, A Law Corporation ("Obligor"), in favor of STAAR Surgical
Company, a Delaware corporation ("STAAR").

        For and in consideration of the extension of credit now made by STAAR to
Obligor as evidenced by the Promissory Note of even date (the "Note"), a true
and correct copy of which is attached hereto as Exhibit "1", or any extension,
renewal or forbearance from enforcement of said Note or other credit, and for
other good and valuable consideration, Obligor agrees as follows:

1.      DEFINITIONS. When used herein, the following terms shall have the
following meanings:

        "Account Debtor" shall mean the party who is obligated on or under any
Account.

        "Account" shall mean any right of Obligor to payment for legal services
rendered, whether or not such right to payment has been earned by performance,
and all interest and service charges thereon, and any other account of Obligor
as such term is defined in Article 9 of the California Commercial Code.

        "Collateral" shall mean all property or rights in which a security
interest is granted hereunder or arises pursuant hereto.

        "Liabilities" shall mean the liabilities and obligations of Obligor to
STAAR pursuant to the Note and any full or part extensions or renewals thereof
(whether greater or less than any such specified obligation), along with any
reasonable costs and expenses incurred by STAAR in connection with any breach or
default of Obligor under this Agreement.

        Except as otherwise provided herein, all other terms used in this
Agreement shall have the meanings given under Division 9 of the California
Commercial Code, or in any other Division if not defined in Division 9.

2.      GRANT OF SECURITY INTEREST. As security for the payment of all
Liabilities, Obligor hereby agrees that STAAR shall have and, to that end,
assigns and grants to STAAR a continuing first-priority security interest in all
Accounts of Obligor, whether now or hereafter existing or acquired; and all
products and proceeds (whether cash or non-cash proceeds) of any of the
foregoing. If, at a future date, Obligor obtains a line of credit from a third
party (not STAAR), not to exceed $250,000, secured by Obligor's Accounts,
STAAR's security interest in Obligor's Accounts will be subordinated to the
security interest of the party which extends the line of credit to Obligor.

3.      WARRANTIES. Obligor warrants to STAAR that: (a) the Liabilities and
every portion thereof will be paid as and when the same become due; (b) no
financing statement (other than any which may have been filed on behalf of
STAAR) covering any of the Collateral is on file in any public office; (c)
Obligor is and will be the lawful owner of all Collateral, free of all liens and
claims whatsoever, other than the security interest granted hereunder, and with
good right to

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subject the same to said security interest and Obligor will not permit any tax
lien or other lien or other security interest other than in favor of STAA.R or
with regard to the line of credit referenced in Section 2 above to attach to the
Collateral; (d) all information with respect to Accounts and Account Debtors set
forth in any schedule, certificate or other writing and all other written
information at any time heretofore or hereafter furnished by Obligor to STAAR is
and will be true and correct as of the date furnished; (e) all Accounts included
in the Collateral arose in the ordinary course of Obligor's business, for legal
services rendered, and are fully collectible without offset or deduction; (f)
the Collateral and all records concerning the Collateral are located at the
place(s) set forth in Section 9 below; (g) Obligor's chief executive office is
located at the address set forth under Obligor's signature hereto and has been
located at such address for the preceding five years, and (h) Obligor's accounts
receivable exceed $560,000.

4.      COLLECTION OF AMOUNTS DUE. Obligor will, at its own expense, endeavor to
collect, as and when due, all amounts due Obligor under the Collateral,
including the taking of such action with respect to such collection as Obligor
may deem advisable, and may use such amounts collected in the ordinary course of
its business, and may, in the ordinary course of business, grant to any party
obligated on any of the Collateral any rebate, refund or adjustment to which
such party may be lawfully entitled or is deemed advisable in the reasonable
discretion of Obligor. Obligor's rights under this section are subject to
STAAR's remedies under Section 7 below.

5.      AGREEMENTS OF OBLIGOR. Obligor will:

        (a)     execute or cause to be executed all financing statements,
endorsements, assignments and other writings and do such other acts and things
as STAAR may from time to time request to establish, maintain and/or continue
the perfected status of the security interest of STAAR in the Collateral (free
of all other liens and claims not provided for herein) to secure payment of the
Liabilities or to implement or further effectuate the terms or purpose of this
Agreement;

        (b)     keep, at the address designated below for its records, all
records concerning the Collateral, which records will be of such character as
will enable STAAR or its designees to determine at any time the status of the
Collateral;

        (c)     not create or permit to exist any lien on or security interest
in any Collateral (or any interest therein) to or in favor of anyone other than
STAAR, other than one securing repayment of a line of credit as referenced in
Section 2 of this Agreement; and

        (d)     not use or permit the use of any of the Collateral for any
unlawful purpose, and will register, use, operate and control the Collateral in
accordance with statutes, laws, ordinances and regulations relating thereto.

6.      DEFAULT. There shall be a default ("Default") under this Agreement if
any of the following events occur:

        (a)     If Obligor shall breach any condition or obligation imposed on
Obligor pursuant to the terms of this Note, the Settlement Agreement And General
Release of even date, or the Security Agreement of even date, provided however
that if any such breach is reasonably

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susceptible of being cured, Obligor shall be entitled to a grace period of
fifteen (15) days following written notice of such event of default to cure;

        (b)     If Obligor shall make an assignment for the benefit of
creditors;

        (c)     If a custodian, trustee, receiver, or agent is appointed or
takes possession of substantially all of the property of Obligor;

        (d)     If Obligor shall be adjudicated bankrupt or insolvent or admit
in writing Obligor's inability to pay Obligor's debts as they become due;

        (e)     If any petition is filed against Obligor under the Bankruptcy
Code and either (A) the Bankruptcy Court orders relief against Obligor, or (B)
such petition is not dismissed by the Bankruptcy Court within thirty (30) days
of the date of filing;

        (f)     If any attachment, execution or other writ is levied on
substantially all of the assets of Obligor and remains in effect for more than
five (5) days; or

        (g)     If Obligor shall apply for or consent to the appointment of a
custodian, trustee, receiver, intervenor, liquidator or agent of Obligor, or
commence any proceeding related to Obligor under any bankruptcy or
reorganization statute, or under any arrangement, insolvency, readjustment of
debt, dissolution, or liquidation law of any jurisdiction, whether now or
hereafter in effect.

Obligor shall notify STAAR immediately if any event of default occurs.

7.      REMEDIES UPON DEFAULT. Upon the occurrence of any Default hereunder,
STAAR may do one or more of the following:

        (a)     declare each of the Liabilities (notwithstanding any provisions
thereto, at the option of STAAR, and without demand or notice of any kind)
immediately due and payable;

        (b)     upon notice to Obligor, notify any parties obligated on any of
the Collateral to make payment to STAAR of any amounts due or to become due
thereunder and enforce collection of any of the Collateral by suit or otherwise
and surrender, release or exchange all or any part thereof, or compromise or
extend or renew for any period (whether or not longer than the original period)
any indebtedness thereunder or evidenced thereby and

        (c)     exercise the rights and remedies afforded a secured party under
Division 9 of the California Uniform Commercial code.

        STAAR shall apply the proceeds of any collection or disposition of the
Collateral to the satisfaction of the Liabilities to STAAR secured by the
Collateral, the application of proceeds to the Liabilities to be in such order
and manner as STAAR elects. STAAR shall not be required to examine the validity
of or to exchange or to collect on any Collateral or to take any action
necessary to hold any corporation, issuer or other person or party liable on the
Collateral; and diligence in looking after, preserving, or acting with respect
to the Collateral or collecting the same is hereby waived by Obligor.

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8.      GENERAL. Any notice to Obligor or to STAAR provided for in this
Agreement shall be given by personal delivery or by express mail, Federal
Express, DHL or similar airborne/overnight delivery service, or by mailing such
notice by first class or certified mail, return receipt requested, addressed to
the party at the address set forth below where this Agreement is executed, or to
such other address as the party may designate by written notice to the other
party. Mailed notices shall be deemed delivered and received three (3) days
after deposit in accordance with this provision in the United States mail.

        Obligor makes, constitutes and appoints STAAR its true and lawful
attorney-in-fact with full power of substitution to take any action in
furtherance of this Agreement, including, but not limited to, the signing of
financing statements, endorsing of instruments, and the execution and delivery
of all documents and agreements necessary to obtain or accomplish any protection
for or collection or disposition of any part of the Collateral. Such appointment
shall be deemed irrevocable and coupled with an interest. Without limiting the
foregoing Obligor hereby specifically authorizes STAAR to endorse, negotiate and
reduce to cash in the name of Obligor, any check or other item, howsoever
received by STAAR and whether received before or after any Default, representing
any payment on or other proceeds of any of the Collateral.

        No delay on the part of STAAR in the exercise of any right or remedy
shall operate as a waiver thereof, and no single or partial exercise by STAAR of
any right or remedy shall preclude other or further exercise thereof or the
exercise of any other right or remedy. This Agreement shall be a continuing
Agreement in every respect and STAAR's security interest in the Collateral as
granted herein shall continue in full force and effect until all of the
Liabilities are paid in full and STAAR has filed a termination statement in the
form prescribed under the California Commercial Code.

        This Agreement has been delivered at Los Angeles, California and shall
be construed in accordance with the laws of the State of California, excluding
any law relating to the conflict of laws. Whenever possible each provision of
this Agreement shall be interpreted in such manner as to be effective and valid
under applicable law but if any provision of this Agreement shall be prohibited
by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity, without invalidating the remainder of
such provision or the remaining provisions of this Agreement. The rights and
privileges granted STAAR hereunder shall inure to the benefit of its successors
and assigns. The rights granted hereunder are cumulative and in addition to any
other rights STAAR may have by agreement or under applicable law.

9.      COLLATERAL AND RECORDS LOCATION(S). The Collateral and records relating
to it are located at 10900 Wilshire Boulevard, Suite 500, Los Angeles,
California 90024-6525.

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        IN WITNESS WHEREOF, this Agreement has been duly executed as of the day
and year first above written.

Pollet & Richardson, A Law Corporation       Accepted and Approved:

By: /s/ Erick E. Richardson, Jr.             /s/ John Bily
    ----------------------------             -------------
    Erick E. Richardson, Jr., President      John Bily, Chief Financial Officer
    10900 Wilshire Boulevard, Suite 500      STAAR Surgical Company
    Los Angeles, CA 90024-6525               1911 Walker Avenue
                                             Monrovia, CA 91016

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