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RESIGNATION, SEVERANCE AND RELEASE AGREEMENT    
  

    This Resignation, Severance and Release Agreement ("Agreement") is entered into by and between STAAR Surgical Company, a Delaware corporation, and its
subsidiaries (collectively, the "Company") and Michael Lloyd, an individual ("Lloyd"), this 9th day of June, 2000 based upon the following: 

 
 

RECITALS    
  

    Whereas, the Company and Lloyd wish to memorialize their agreement regarding the termination of Lloyd's
employment with the Company and the severance benefits that are to be transferred or paid to Lloyd as a result of the termination of his employment; and 

    Whereas, the Company and Lloyd wish to memorialize their agreement regarding Lloyd's waiver of all rights and claims which he may have
against the Company, if any. 

    Now, therefore, in consideration of the mutual covenants and promises contained herein and for other valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Company and Lloyd agree as follows: 

 
 

AGREEMENT    
  

    1.  Incorporation of Recitals.  The recitals to this Agreement are an integral part of this Agreement and
are hereby incorporated as a part of this Agreement as if set forth in it. 

    2.  Termination of Employment.  As of the date of execution of this Agreement, Lloyd's employment with
the Company shall terminate and Lloyd shall not perform further services for the Company. 

    3.  Consideration for Agreement.  In exchange for Lloyd's release of the Company from any past and future
obligations (if any), whether monetary or otherwise, allegedly owed by the Company to Lloyd based upon Lloyd's employment, the Company shall pay to Lloyd the sum of one hundred thousand dollars
($100,000). Furthermore, the Company agrees that Lloyd may exercise the following options prior to the dates such options expire or are terminated at the prices set forth below: 

	11/5/90	 	40,000 Warrants @ $4.00
	8/1/91	 	12,500 Formula Stock Option @ $2.50
	11/10/92	 	25,000 Incentive Stock Option @ $5.875
	3/31/94	 	35,000 Incentive Stock Option @ $4.75
	8/4/98	 	50,000 Incentive Stock Option @ $6.25
	11/5/93	 	11,986 Anti-Dilution Warrants expired not available to exercise

    4.  Waiver of All Claims.  Lloyd agrees that Lloyd is not entitled to receive, will not claim and
expressly waives any entitlement to rights, benefits or compensation from the Company other than as expressly set forth in this Agreement. Lloyd acknowledges that there may be adverse tax consequences
relating to his receipt of some or all of the consideration set forth in section 3. LLOYD AGREES THAT HE WILL CONSULT WITH HIS TAX ADVISOR TO DETERMINE THE TAX
CONSEQUENCES OF ACQUIRING THE CONSIDERATION. LLOYD ACKNOWLEDGES THAT IT IS HIS SOLE RESPONSIBILITY, AND NOT THE COMPANY'S, TO DO THIS INVESTIGATION.

    5.  Complete Release by Lloyd.  

    (a)  Release.  Lloyd irrevocably and unconditionally releases all of the claims described in subsection
(b) of this section 5 that Lloyd may now have against the following persons or entities (the "Releasees"): the Company, all of its past and present employees, officers, directors, 

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stockholders, owners, representatives, assigns, attorneys, agents, insurers, employee benefit programs (and the trustees, administrators, fiduciaries and insurers of such programs) and any other
persons acting by, through, under or in concert with any of the persons or entities listed in this subsection. 

    (b)  Claims Released.  The claims released include all claims, promises, debts, causes of action or
similar rights of any type or nature Lloyd has or had which in any way relate to (i) Lloyd's employment with the Company, or the termination of that employment, such as claims for compensation,
bonuses, commissions, lost wages or unused accrued vacation or sick pay, (ii) the design or administration of any employee benefit program or Lloyd's entitlement to benefits under any such
program, (iii) any claims to attorneys' fees and/or other legal costs, and (iv) any other claims or demands Lloyd may, on any basis, have. The claims released include, but are not
limited to, claims arising under any of the following statutes or common law doctrines: 

     (i) Anti-Discrimination
Statutes, such as the Age Discrimination in Employment Act, which prohibits age discrimination in employment; the Civil Rights Act
of 1991, Title VII of the Civil Rights Act of 1964, and §1981 of the Civil Rights Act of 1866, which prohibit discrimination based on race, color, national origin, religion or sex; the
Equal Pay Act, which prohibits paying men and women unequal pay for equal work; the Americans With Disabilities Act, which prohibits discrimination against the disabled; the California Fair Employment
and Housing Act, which prohibits discrimination in employment based upon race, color, national origin, ancestry, physical or mental disability, medical condition, martial status, sex, or age; and any
other federal, state or local laws or regulations prohibiting employment discrimination. 

    (ii) Federal
Employment Statutes, such as the Employee Retirement Income Security Act of 1974, which, among other things, protects pension or health plan benefits; and
the Fair Labor Standards Act of 1938, which regulates wage and hour matters. 

    (iii) Other
Laws, such as any federal, state or local laws restricting an employer's right to terminate employees or otherwise regulating employment; any federal, state
or local law enforcing express or implied employment contracts or requiring an employer to deal with employees fairly or in good faith; and any other federal, state or local laws providing recourse
for alleged wrongful discharge, physical or personal injury, emotional distress, fraud, negligent misrepresentation, libel, slander, defamation and similar or related claims. The laws referred to in
this section include statutes, regulations, other administrative guidance and common law doctrines both in the United States and in Australia. 

    (c)  Release Extends to Both Known and Unknown Claims.  This release covers both claims that Lloyd knows
about and those Lloyd does not know about. Lloyd understands the significance of this release of unknown claims and his waiver of any statutory protection against a release of unknown claims. Lloyd
expressly waives the protection of any such governmental statutes or regulations. 

    More
particularly, and without limitation, Lloyd acknowledges that Lloyd has read and is familiar with and understands the provisions of Section 1542 of the California Civil
Code, which provides: "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE,
WHICH, IF KNOWN TO HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR."

    LLOYD EXPRESSLY WAIVES ANY RIGHT OR CLAIM OF RIGHT LLOYD MAY HAVE UNDER SECTION 1542 OF THE CALIFORNIA CIVIL CODE.

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    (d)  Ownership of Claims.  Lloyd represents that Lloyd has not assigned or transferred, or purported to
assign or transfer, all or any part of any claim released by this Agreement. 

    6.  Lloyd's Promises.  In addition to the release of claims provided for in section 5, Lloyd
promises never to file or prosecute a lawsuit, administrative complaint or charge, or other complaint or charge asserting any claims that are released by the Agreement. Lloyd represents that Lloyd has
not filed or caused to be filed any lawsuit, complaint or charge with respect to any claim this Agreement releases. Lloyd further agrees to request any government agency or other body assuming
jurisdiction of any complaint or charge relating to a released claim to withdraw from the matter or dismiss the matter with prejudice. 

    7.  Consequences of Lloyd's Violation of Promises.  If Lloyd breaks any of the promises in this
Agreement, such as, by way of example and not by way of limitation, by filing or prosecuting a lawsuit or charge based on claims that Lloyd has released, or if any representation made by Lloyd in this
Agreement was false when made, Lloyd will: (i) immediately return to the Company the consideration paid to him pursuant to section 5 above; and (ii) pay reasonable attorneys' fees
and all other costs incurred as a result of such breach or false representation, such as, by way of example and not by way of limitation, the Company's cost of defending any suit brought with respect
to a claim released by him. 

    8.  Consulting with Attorney.  Lloyd acknowledges that he has had ample opportunity to consult with an
attorney prior to executing this Agreement. 

    9.  Return of Company Property.  Immediately following the execution of this Agreement, Lloyd shall
transfer to the Company all files (including, but not limited to, electronic files), records, documents, drawings, specifications, equipment and similar items in its possession relating to the
business of the Company or its confidential information. 

    10.  Severability.  The provisions of this Agreement are severable. If any part of it is found to be
unenforceable, all other provisions shall remain fully valid and enforceable. 

    11.  Choice of Laws/Venue.  This Agreement shall be governed by the laws of the State of California, and
any action or proceeding relating to this Agreement shall be heard solely before the Courts of the County of Los Angeles, California. 

    12.  Nature, Effect and Interpretation of this Agreement.  

    (a)  Entire Agreement.  This is the entire Agreement between Lloyd and the Company; it may not be
modified or cancelled in any manner except by a writing signed by both the Company and Lloyd. The Company has made no promises or representations to Lloyd other than those in this Agreement and Lloyd
has made no promises or representations to the Company other than those in this Agreement. 

    (b)  Successors and Assigns.  This Agreement shall bind both the Company's and Lloyd's heirs,
administrators, representatives, executors, successors and assigns, and shall inure to the benefit of all Releasees and their respective heirs, administrators, representatives, executors, successors
and assigns. 

    (c)  Interpretation.  This Agreement shall be construed as a whole according to its fair meaning, and not
strictly for or against any of the parties. Unless the context indicates otherwise, the term "or" shall be deemed to include the term "and" and the singular or plural number shall be deemed to include
the other. Paragraph headings used in this Agreement are intended solely for convenience of reference and shall not be used in the interpretation of any of this Agreement. It is acknowledged that
neither party shall be construed to be solely responsible for the drafting hereof, and therefore any ambiguity shall not be construed against either party as the alleged draftsman of this Agreement. 

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    (d)  Counterparts and Facsimiles.  For the convenience of the parties to this Agreement, this document
may be executed by facsimile signatures and in counterparts which shall together constitute the agreement of the parties as one and the same instrument. 

    (e)  Implementation.  The Company and Lloyd both agree that, without the receipt of further
consideration, they will sign and deliver any documents and do anything else that is necessary in the future to make the provisions of this Agreement effective. 

    13.  Notices.  Unless otherwise specifically provided in this Agreement, all notices, demands, requests,
consents, approvals or other communications (collectively and severally called "Notices") required or permitted to be given hereunder, or which are given with respect to this Agreement, shall be in
writing, and shall be given by: (1) personal delivery (which form of Notice shall be deemed to have been given upon delivery), (2) by telegraph or by private airborne/overnight delivery
service (which forms of Notice shall be deemed to have been given upon confirmed delivery by the delivery agency), (3) by electronic or facsimile or telephonic transmission, provided the
receiving party has a compatible device or confirms receipt thereof (which forms of Notice shall be deemed delivered upon confirmed transmission or confirmation of receipt), or (4) by mailing
in the United States mail by registered or certified mail, return receipt requested, postage prepaid (which forms of Notice shall be deemed to have been given upon the fifth {5th} business day
following the date mailed). Notices shall be addressed to the parties as follows: 

	Lloyd:	 	Michael Lloyd

2409 Bonnie Brae Avenue

Claremont, California 91711
	

Company:	
 	

STAAR Surgical Company

1911 Walker Avenue

Monrovia, California 91016

Attn.: Chief Executive Officer

    14.  Binding Arbitration.  The Company and Lloyd agree to submit all controversies, claims and matters of
difference to binding arbitration according to the rules and practices of the American Arbitration Association from time-to-time in force. 

    PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.  

    Executed at Monrovia, California this 2nd day of June 2000. 

	 	 	"LLOYD"
	

 	
 	

 Michael Lloyd

	 	 	"COMPANY"
	

 	
 	

STAAR Surgical Company
	

 	
 	

By:	
 	

 
	 	 	 	 	

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RESIGNATION, SEVERANCE AND RELEASE AGREEMENT

RECITALS

AGREEMENTPrepared by MERRILL CORPORATION www.edgaradvantage.com

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Exhibit 10.55  

  
 

    PARKING LOT AND STORAGE LEASE
  1900 Walker Ave., Monrovia CA 91016    
  

    THIS LEASE, entered into this 11th day of June, 2000, by and between and Gilbert Bates & LaVonne Bates, and Staar Surgical Company., hereinafter called
respectively Landlord and Tenant. This Lease replaces the previous leases between the Parties dated August 3, 1995 and June 20, 1997.

    WITNESSETH;
that for and in consideration of the payment of the rents and the performance of the covenants contained on the part of Tenant, said Landlord does hereby demise and let
unto the Tenant, for use as a parking lot those premises described as South 1/2 of parking lot, as well as 4,464 s.f. of inside storage
located as per Exhibit "A", at 1900 Walker Avenue, Monrovia, California, for tenancy commencing on the 1st day of July 2000, and at a monthly lease of Forty Thousand
Eighty Two, ($4,082)* GROSS dollars per month, payable monthly in advance on the 1st day of each and every month for a period of one
year. 

*The
above rent is based on $2,232 rent for the warehouse and $1,850 for the parking lot. 

    It
is further mutually agreed between the parties as follows: 

    (1) Parking
lot shall be occupied by no more than 35 cars. Each car must be parked in a striped stall. Personnel using Inside Storage shall not have access to
restrooms, electrical room, telephones or any other area not contained in the leased area without approval of Landlord. 

    (2) Tenant
absolves Landlord of any responsibility or liability in connection with Tenants use of property. Tenant shall maintain gate motor in proper working order.
Tenants shall keep premises clear
and free of excessive engine oil, trash and other debris. Tenant shall not park vehicles overnight. Tenant shall keep the trees and shrubs trimmed and in good appearance. 

    (3) Tenant
shall not violate any city ordinance or state law in or about said premises. 

    (4) That
all alterations, additions or improvements made in and to said premises shall, unless otherwise provided by written agreement between the parties hereto, be
the property of Landlord and shall remain upon and be surrendered with the premises. 

    (5) Tenant
shall not sub-let the demised premises, or any part thereof, or assign this agreement without the Landlord's written consent. 

    (6) Any
failure by Tenant to pay rent or other charges promptly when due, or to comply with any other term or condition hereof, shall at the option of the Landlord, and
after sixty lawful notice given, forthwith terminate this tenancy. 

    (7) Tenant
shall keep and maintain the premises in a clean and sanitary condition at all times, and upon the termination of the tenancy shall surrender the control keys
and premises to the Landlord in as good condition as when received, ordinary wear and damage by the elements excepted. 

    (8) Tenant
shall provide Landlord evidence of adequate insurance for the use of premises, naming Gilbert Bates, LaVonne Bates, L. Bates, Inc. and GLB
Apparel, Inc., as additional insured in an amount not less that $1,000,000. 

    (9) Nothing
contained in this agreement shall be construed as waiving any of Landlord's right under the laws of the State of California. 

    (10) After completion of the term of this lease, there shall be no holdover unless there is a written agreement to that effect signed by Staar,
Unitek Miyachi & Lessor in place (thirty) 30 days prior to  

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 the expiration of June 1st, 2001. Absent such an agreement, Tenant agrees to be vacated by the Expiration Date.

    (12) The
prevailing party in an action brought for the recovery of rent or other moneys due or to become due under the lease or by reason of a breach of any covenant
herein contained or for the recovery of the possession of said premised, or to compel the performance of anything agreed to be done herein, or to recover for damages to said property, or to enjoin any
act contrary to the provisions hereof, shall be awarded all of the costs in connection therewith, including, but not by way of limitation, reasonable attorney's fees. 

    (13) Landlord
shall not be liable or responsible in any way for injury to any person, or for loss of, or damage to, any article belonging to Tenant, or located in said
premises, or other premises under control of Landlord. Landlord shall not liable for and this agreement shall not be terminated by reason of any interruption of, or interference with, services or
accommodation due Tenant, caused by strike, riot, orders of public authorities, acts of other Tenants, accident, the making of necessary repairs to the building of which said premises are a part or
any other cause beyond the Landlord's control. 

    (14) Except
in case of emergency, Landlord agrees to not enter the Inside Storage Area leased by Tenant. Upon request, Tenant shall provide access to Landlord, or his
agent, to said premises for reasonable purposes including inspection, maintenance and showing same to prospective Tenants or purchasers. Tenant agrees to provide Landlord a key and access code to be
used by Landlord only in the event of an Emergency, in which case Landlord agrees to notify Tenant or Tenant's Security Personnel of such access as soon as practically possible, but in no case later
than the commencement of the next business day. Tenant hereby agrees not to change any lock or access device to said premises without the prior written consent of Landlord. 

    15) Tenant
agrees that he has inspected the premises, and equipment and that the same are now in good order and condition; and that he will on demand pay Landlord for
all loss, breakage and damage. Landlord agrees to provide labor to move the partition wall and gate in order to segregate the inside storage space. Tenant agrees to pay for the
relocating their security sensors. Tenant is responsible for security of this area. Tenant will be provided access to north ground level loading doors at any time during normal working
hours. Tenant will have 24-hour pedestrian access to the storage space via the man door on the north side of the building (El Norte Street). Tenant agrees to
maintain the fencing, gate and electrical fixtures. Tenant will be provided with an alarm keypad and code, which will deactivate the alarm for the area of this lease. Landlord may enter the parking
area leased by Tenant without notice for any reasonable purpose. 

    (16) The
following items are furnished: 35 remote activators/changes. Landlord agrees to resurface and restripe the parking lot prior to the Tenants occupancy. 

    (17) The security deposit is refundable provided all rents have been paid and and no damage has occurred and no repairs are necessary to return
premises to original condition. The security deposit is hereby reduced to four thousand eighty two and no/100 ($4,082). Excess Security Deposit may be applied to the next months
rent.

    (18) This
lease is a confidential transaction between Landlord and Tenant. The terms, including but not limited to the length of the agreement, are not to be disclosed
in whole or in part by either party without prior written consent of the other party. 

    (19) Tenant agrees to cooperate with Landlord (at Landlords expense) in the repair, resurfacing and restriping of the parking lot. Landlord will
attempt to perform this work on the weekend so as to not unduly inconvenience Tenant. In the event the parking lot is unusable for any work day due to this work, Tenant will be credited at the rate of
$70.00 per day.

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All rent checks are to be made payable to Gilbert Bates. Rent shall be paid at 425 E. Huntington Drive, Monrovia, CA 91016. Rent is due on the first day of each month. Rent payments paid after the
third day of the month must include a late charge of $200 plus $50 for each additional day that the rent continues to be unpaid. The total late charges for any one-month shall not exceed
$500. Returned checks will be charged $20. 

	LANDLORD
 
	 	TENANT
 

	/s/ GILBERT L. BATES   
 GILBERT L. BATES	 	/s/ SANDRA K. WOOD   
 WILLIAM HUDDLESTON

STAAR SURGICAL, INC.
	

/s/ LAVONNE BATES   
 LAVONNE BATES	
 	

Assist. V.P. Corp Services
 TITLE
	

6-29-00
 DATE	
 	

6-29-00
 DATE

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EXHIBIT "A"
  1900 Walker Ave
  Monrovia CA    
  

    [FLOOR PLAN] 

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PARKING LOT AND STORAGE LEASE 1900 Walker Ave., Monrovia CA 91016

EXHIBIT "A" 1900 Walker Ave Monrovia CA

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