Document:

AGREEMENT
TO OPERATE

      SOUTH GLENROCK BLOCK “C”

      AND
EXTENSION OF PURCHASE AGREEMENT

      

      THIS AGREEMENT TO OPERATE SOUTH
GLENROCK BLOCK “C” AND EXTENSION OF PURCHASE AGREEMENT (“Agreement”), effective
as of  March 30, 2009 (the “Effective Date”) at 8:00 a.m. Mountain
Time (“Effective Time”), is between Ameriwest Energy Corp. (“Ameriwest”) and
Muddy Mineral Exploration, LLC (“Muddy”).

      

      WHEREAS, Muddy and Ameriwest have been
parties to a Letter of Intent dated October 1, 2007 and subsequent amendments
(collectively “Letter of Intent”) under which Muddy agreed to sell its working
interest and net royalty interest in and to the South Glenrock Block “C” field
in Converse County, Wyoming (“South Glenrock ‘C’”);

      

      WHEREAS, the parties seek to enter this
Agreement for the operation of the South Glenrock “C” field and to extend the
closing on the purchase agreement for the interest of Muddy in South Glenrock
“C” for the period and subject to the terms and conditions set forth in this
Agreement.

      

      NOW THEREFORE, in consideration of the
foregoing and the mutual covenants and agreements set forth below, the
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:

       

      1.  OPERATION
OF FIELD BY AMERIWEST.

      Until
Closing or at such time as this Agreement is terminated, as set forth below,
Ameriwest agrees to be responsible for, and diligently perform, standard and
customary duties of a prudent oil operator in the State of Wyoming, and shall be
responsible for the overall operations and management of South Glenrock “C”,
including, without limitation, performing or having performed reasonably
necessary maintenance and repairs, payment of expenses and costs associated with
maintenance and repairs, payment of applicable taxes and fees, marketing and
selling oil from production, obtaining and maintaining proper bonding and
insurance, and otherwise protecting and preserving the South Glenrock “C”
assets.  Ameriwest hereby agrees to indemnify, hold harmless and
defend Muddy from and against any and all claims, liabilities, losses, expenses
(including reasonable attorneys’ fees and costs), fines, penalties, taxes or
damages (collectively “Liabilities”), asserted by any third party against Muddy
in relation to Ameriwest’s operation of South Glenrock “C”.  Ameriwest
shall periodically, and more often upon Muddy’s request, provide Muddy with
information, reports and documentation evidencing compliance with its
operational responsibilities.  If Muddy requests after the execution
of this Agreement and prior to Closing, Ameriwest shall execute Muddy’s
Operating Agreement and perform the obligations arising
thereunder.  In the event that Muddy, in its reasonable discretion,
deems its interests in South Glenrock “C” or any of the related assets are
impaired or are insecure, then Muddy may terminate this Agreement upon written
notice to Ameriwest.

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      2.  EXTENSION
OF CLOSING DATE TO PURCHASE SOUTH GLENROCK “C”.

      
        	
                 
      

              	
                2.1

              	
                Subject
      to the terms of this Agreement, Muddy hereby grants to Ameriwest and/or
      its permitted assigns an extension of the closing date for the purchase of
      the interests owned by Muddy as of the Effective Date in South Glenrock
      “C”, for payment of the Purchase Price and subject to the terms set forth
      below.

              

      

      

      
        	
                 
      

              	
                2.2

              	
                Closing
      shall occur on or before the 1st
      day of June, 2009, unless otherwise extended by mutual agreement of the
      parties.  If Closing does not occur by June 1, 2009 (or as
      otherwise extended by mutual written agreement) this Agreement shall
      automatically terminate.

              

      

      

      
        	
                 
      

              	
                2.3

              	
                As
      a material inducement for the execution of this Agreement, Muddy and
      Ameriwest agree that the Purchase Price for South Glenrock “C” has been
      changed to $4,000,000.00, as per Muddy’s December 1, 2008
      letter.  Muddy agrees that the sum of $1,750,000.00, which
      non-refundable amount was previously paid to Muddy by Ameriwest, shall be
      credited against the Purchase Price at the time of Closing.  At
      Closing, Ameriwest shall pay the sum of Purchase Price, less properly
      credited amounts.

              

      

      

      
        	
                 
      

              	
                2.4

              	
                If
      Ameriwest elects to purchase South Glenrock “C”, then Ameriwest shall
      provide written notice of its election to Muddy prior to the Closing date
      set forth in paragraph 2.2, above.

              

      

      

      
        	
                 
      

              	
                2.5

              	
                Ameriwest
      will have until June 1, 2009 within which to undertake its due diligence
      on title and environmental related matters.  Prior to June 1,
      2009, Ameriwest may terminate its obligation to purchase South Glenrock
      “C” and this Agreement by written notification to Muddy, if it identifies
      material title or environmental
defects.

              

      

      

      3.  REMEDIES
IN EVENT OF TERMINATION OF AGREEMENT.

      
        	
                 
      

              	
                3.1

              	
                In
      the event a party terminates this Agreement in accordance with a right
      granted hereunder or otherwise by operation of this Agreement, the
      following shall apply:

              

      

      

      
        	
                 
      

              	
                A.

              	
                Muddy
      shall be entitled to retain all sums previously paid by Ameriwest prior to
      Closing and commence as operator of the South Glenrock
  “C”.

              

      

      

      
        	
                 
      

              	
                B.

              	
                Ameriwest
      shall be entitled to retain all revenue from oil produced during the
      period Ameriwest acted as operator, through the date of
      termination.

              

      

      

      
        	
                 
      

              	
                C.

              	
                Immediately,
      and not later than five (5) business days, Ameriwest shall: (a) assign to
      Muddy all of its interest in and to South Glenrock “C”, whether created by
      the Assignment of Revenues dated May 1, 2008, including all oil in the
      tanks and all rents, issues, profits, proceeds, products, revenues and
      other income from or attributable to South Glenrock “C”, or otherwise; (b)
      assign to Muddy all of its right, title and interest in and to that
      $100,000 Certificate of Deposit bearing the bond account number 50000169
      issued to the Director of the Office of State Lands & Investments to
      act as bonding security to cover operations on State of Wyoming Oil and
      Gas Leases that are a part of, or related to, South Glenrock “C” (“Bond”);
      and (c) execute such assignments and other documents as are necessary or
      desirable in order to evidence and/or effectuate the intent of this
      paragraph, including without limitation, the transfer of Ameriwest’s
      operator status of South Glenrock “C” and the
  Bond.

              

      

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      4.  DISCLOSURE
OF INTEREST OF DIRECTORS OF AMERIWEST.

      The
parties acknowledge that the directors of Ameriwest hold ownership interests in
Muddy and South Glenrock “C” and hereby state that full disclosure of said
interests have been made to the parties.

      

      5.  MISCELLANEOUS.

      
        	
                 
      

              	
                5.1

              	
                NO
      ASSIGNMENT OR TRANSFER.  During the term of this Agreement,
      Ameriwest will not commit, assign or transfer, in part or whole, any of
      its interest in the Assignment of Revenues dated May 1, 2008 to any third
      party without the prior written consent of Muddy.  During the
      term of this Agreement, Muddy agrees not to assign or transfer, in part or
      whole, any of its interest in South Glenrock “C” to any third party
      without the prior written consent of
Ameriwest.

              

      

      

      
        	
                 
      

              	
                5.2

              	
                CONFIDENTIALITY.  The
      parties hereby agree and acknowledge that this Agreement and its terms and
      conditions are confidential, except to the extent disclosure is required
      by federal or state laws, rules or regulations or except as may be
      necessary in the event of litigation or to the extent required to comply
      with any subpoena or court order.

              

      

      

      
        	
                 
      

              	
                5.3

              	
                SURVIVAL.  Notwithstanding
      the termination of this Agreement or the closing and delivery of any
      document of conveyance, the indemnification provisions and the
      requirements to convey interests set forth in this Agreement shall survive
      the termination of this Agreement or the
  closing.

              

      

      

      
        	
                 
      

              	
                5.4

              	
                BINDING
      EFFECT.  The parties understand and agree that this Agreement
      and its terms are contractual and not a mere recital. The parties further
      understand and agree that this Agreement shall be considered final and
      binding.

              

      

      

      
        	
                 
      

              	
                5.5

              	
                EXECUTION.  This
      Agreement may be executed in one or more counterparts (including multiple
      signature pages), all of which shall be deemed to be one instrument. True
      and correct copies including facsimiles may be used in lieu of the
      original.

              

      

      

      
        	
                 
      

              	
                5.6

              	
                CONSTRUCTION
      OF AGREEMENT.  All questions with respect to the construction of
      this Agreement and the rights and liabilities of the parties hereto shall
      be governed by the laws of the State of Wyoming. The section headings
      herein are for the convenience of reference only and are not a substantive
      part of the Agreement.

              

      

      

      
        	
                 
      

              	
                5.7

              	
                ENFORCEABILITY.  Should
      suit be brought to enforce or construe this Agreement, the substantially
      prevailing party in such suit shall be awarded reasonable attorneys’ fees
      for the defense or prosecution
thereof.

              

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      IN
WITNESS WHEREOF, the parties hereto have entered into this Agreement as of the
Effective Date.

      

      
        	
                Muddy
      Mineral Exploration, LLC:

              	
                Ameriwest
      Energy Corp.:

              
	 
      	 
      
	 
      	 
      
	
                By:
      /s/ Jon C. Nicolaysen

              	
                By:
      /s/ Walter Merschat

              
	 
      	 
      
	
                Title:
      Manager

              	
                Title:
      President

              

      

       

      
        
           

        

        
          4TEMPORARY
WAIVER AGREEMENT

     

    THIS
TEMPORARY WAIVER AGREEMENT (this “Waiver”), dated as of the 2nd day of April,
2009, is made by and between Broadwood Partners, L.P. (“Broadwood” or the
“Investor”) and STAAR Surgical Company (“STAAR” or the “Company”). Unless otherwise
defined herein, capitalized terms used but not defined in this Waiver shall have
the meaning ascribed to such term in the Senior Note.

     

    WITNESSETH:

     

    WHEREAS,
the Investor currently owns a $5,000,000 senior note (the “Senior Note”), issued
to the Investor on December 14, 2007 by the Company;

     

    WHEREAS,
an order of judgment was rendered on March 23, 2009 by the California Superior
Court, County of Orange (the “Court”), Case No. 07CC10136 in the matter of Parallax Medical Systems, Inc. v.
STAAR Surgical Company in the amount of $2.2 million in compensatory
damages and $2.7 million in punitive damages, (collectively, and as it may be
modified by the Court, the “Judgment”);

     

    WHEREAS,
the Court executed an order on March 23, 2009 staying execution of judgment (the
“Stay”) pursuant to Section 918 of the California Code of Civil Procedure
(“CCCP”);

     

    WHEREAS,
as to any Event of Default that occurs or may be deemed to have occurred
pursuant to Section 8(f) of the Senior Note as a result of the Judgment
(“Judgment Default”), the Investor and the Company wish to provide, subject to
the terms and conditions set forth below, that remedies for any such default
under the Senior Note shall not be enforced during the period of the
Stay.

     

    NOW,
THEREFORE, for and in consideration of the premises and the mutual covenants and
agreements herein contained, the Investor and the Company do hereby agree as
follows:

     

    
      	
               
      

            	
              1.

            	
              The
      Investor hereby temporarily waives any Judgment Default during the Stay
      Period.  For purposes hereof, “Stay Period” shall mean the
      shorter of (i) the duration of the Stay, and (ii) July 6,
      2009.

            

    

     

    
      	
               
      

            	
              2.

            	
              In
      consideration of the Investor’s providing this Waiver, the Company hereby
      agrees, within seven business days from the date hereof, to amend the
      Senior Note to irrevocably grant (i) a first-priority security interest on
      all of the Company’s unencumbered assets as of the date hereof and (ii) a
      second-priority security interest on all of the Company’s assets subject
      to any purchase money indebtedness, to the Investor to secure the
      Company’s obligations under the Senior Note.  The Investor
      agrees that the amendment shall also provide that the period of notice for
      prepayment under Section 6(a) of the Senior Note shall be changed to seven
      days for any notice period beginning on or after June 1,
    2009.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              3.

            	
              The
      Company hereby represents and warrants that, as of the date hereof, other
      than any Event of Default relating to the Judgment, no Event of Default
      has occurred and is continuing.

            

    

     

    
      	
               
      

            	
              4.

            	
              If,
      prior to the expiration of the Stay Period, the Company fully satisfies
      the Judgment,
      then any Judgment Default will be deemed cured and any resulting
      remedies that the Investor may have had under the Senior Note with respect
      to any Judgment Default will be
waived.

            

    

     

    
      	
               
      

            	
              5.

            	
              If,
      prior to the expiration of the Stay Period, the Company secures a stay of
      execution of Judgment until the completion of an appeal pursuant to CCCP
      Section 917.1 by posting an appeal bond, or by other action of the
      California courts, then any Judgment Default shall be Partially
      Cured.  For purposes herein, “Partially Cured” shall mean that
      the Investor shall not have the right to any acceleration remedies that
      the Investor may have had under the Senior Note with respect to the
      Judgment Default but from and after the expiration of the Stay Period the
      Investor shall have the right to receive interest at a rate of 20% per
      annum as provided in the first paragraph of Section 4 of the Senior
      Note.

            

    

     

    
      	
               
      

            	
              6.

            	
              If
      the Judgment Default is Partially Cured pursuant to Paragraph 5 hereof,
      and during the pendency of appeal the Company fully satisfies the Judgment
      and finally resolves all other material litigation of the Company that as
      of the date of this Waiver is pending and not yet decided, then the
      Judgment Default shall be deemed fully cured and the interest rate on the
      Senior Note shall be reduced to 7% per annum from the date of such
      cure.

            

    

     

    
      	
               
      

            	
              7.

            	
              If,
      as of the expiration of the Stay Period, the Company has satisfied neither
      the conditions for a cure pursuant to Paragraph 4 nor the conditions for
      the note to be Partially Cured pursuant to Paragraph 5, the Company agrees
      and acknowledges that an Event of Default pursuant to Section 8(f) of the
      Senior Note shall have occurred and that Broadwood may enforce any and all
      rights resulting from such waiver without further notice, demand or
      presentment.

            

    

     

    
      	
               
      

            	
              8.

            	
              This
      Waiver contains the entire understanding between and among the parties and
      supersedes any prior understandings and agreements among them respecting
      the subject matter of the Waiver.

            

    

     

    
      	
               
      

            	
              9.

            	
              This
      Waiver is only effective in the specific instances set forth
      herein.  No other waiver by the Investor or the Company is
      granted or intended except as expressly set forth herein, and the Investor
      and the Company expressly reserve the right, now and at all times
      hereafter, to require strict compliance with the terms of the Senior Note
      in all other respects, whether in connection with any future transaction
      in respect of similar matters to those waived herein, or
      otherwise.

            

    

     

    
      	
               
      

            	
              10.

            	
              This
      Waiver shall be governed by and construed in accordance with the laws of
      the State of New York without regard to choice of law
      principles.

            

    

     

    
      	
               
      

            	
              11.

            	
              This
      Waiver may be executed in any number of counterparts, each of which shall
      be an original but all of which together shall constitute one and the same
      instrument.

            

    

     

    
      	
               
      

            	
              12.

            	
              In
      case any provision of this Waiver shall be held to be invalid, illegal or
      unenforceable, such provision shall be severable from the rest of this
      Waiver, and the validity legality and enforceability of the remaining
      provisions shall not in any way be affected or impaired
      thereby.

            

    

     

    [-signature
page follows-]

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, this Temporary Waiver Agreement has been executed as of the
date first written above.

     

    BROADWOOD
PARTNERS, L.P.

    

     

    By: /s/Neal C.
Bradsher

     

    Name:  Neal
C. Bradsher

     

    Title:
General Partner

     

     

    STAAR
SURGICAL COMPANY

    

     

    By:/s/Barry G.
Caldwell

     

    Name:  Barry
G. Caldwell

     

    Title:  President
and Chief Executive Officer

     

    
      
         

      

      
        3

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