Document:

Second Supplemental Indenture dated as of April 3, 2003

 
Exhibit 4.3

 
COMPUTER SCIENCES CORPORATION,

Issuer, 
 
and 
 
CITIBANK, N.A., 
Trustee 
 

 
SECOND SUPPLEMENTAL INDENTURE 
Dated as of April 3, 2003 
 

 
$300,000,000 of 3.50% Notes due April 15, 2008 
 
THIS SECOND SUPPLEMENTAL INDENTURE, dated as of April 3, 2003,
is entered into by and between Computer Sciences Corporation, a Nevada corporation (the “Issuer”), and Citibank, N.A., a national banking association, as trustee (the “Trustee”). 
 
W I T N E S S E T H: 
 
WHEREAS, the Issuer and the Trustee executed and delivered an
Indenture dated as of February 10, 2003 (the “Base Indenture,” and, as supplemented by that certain First Supplemental Indenture, dated as of February 14, 2003, by and between the Issuer and the Trustee, and this Second Supplemental
Indenture, the “Indenture”), to provide for the issuance by the Issuer from time to time of unsubordinated debt securities evidencing its unsecured indebtedness; 
 
WHEREAS, pursuant to Board Resolutions, the Issuer has authorized the issuance of $300,000,000 principal
amount of 3.50% Notes due April 15, 2008 (hereinafter referred to as the “Offered Securities”); 
 
WHEREAS, the entry into this Second Supplemental Indenture by the parties hereto is in all respects authorized by the provisions of the
Base Indenture; 
 
WHEREAS, the Issuer desires to
enter into this Second Supplemental Indenture pursuant to Section 9.01 of the Base Indenture to establish the terms of the Offered Securities in accordance with Section 2.01 of the Base Indenture and to establish the form of the Offered Securities
in accordance with Section 2.02 of the Base Indenture; and 
 
WHEREAS, all things necessary to make this Second Supplemental Indenture a valid indenture and agreement according to its terms have been done. 

 
NOW,
THEREFORE, for and in consideration of the foregoing premises, the Issuer and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective holders from time to time of the Offered Securities as follows:

 
ARTICLE 1. 
 
Section 1.1. Terms of Offered Securities. The
following terms relating to the Offered Securities are hereby established: 
 
(1) The Offered Securities shall constitute a series of securities having the title “3.50% Notes due April 15, 2008”. 
 
(2) The initial aggregate principal amount of the Offered Securities that may be authenticated and delivered
under the Indenture (except for Offered Securities authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of, other Offered Securities pursuant to Sections 2.05, 2.06, 2.07, 2.11, or 3.03) shall be
$300,000,000. 
 
(3) The entire Outstanding
principal of the Offered Securities shall be payable on April 15, 2008. 
 
(4) The rate at which the Offered Securities shall bear interest shall be 3.50% per annum; the date from which interest shall accrue on the Offered Securities shall be April 3, 2003, or the most recent Interest Payment Date
to which interest has been paid or provided for; the Interest Payment Dates for the Offered Securities shall be April 15 and October 15 of each year, beginning October 15, 2003; interest shall be payable on each Interest Payment Date to the holders
of record at the close of business on the date fifteen days prior to such Interest Payment Date (a “regular record date”); and the basis upon which interest shall be calculated shall be that of a 360-day year consisting of twelve 30-day
months. 
 
(5) The Offered Securities shall be
issuable in whole in the registered form of one or more Global Securities (without coupons), and the Depository for such Global Securities shall be The Depository Trust Company, New York, New York. The Offered Securities shall be substantially in
the form attached hereto as Exhibit A. 
 
(6) (A)
The Offered Securities will be subject to redemption at the option of the Issuer on any date (the “Redemption Date”) prior to the maturity date, in whole or from time to time in part, in $1,000 increments (provided that any
remaining principal amount thereof shall be at least the minimum authorized denomination thereof), at a redemption price equal to the greater of (a) 100% of the principal amount of the Offered Securities to be redeemed and (b) the sum of the present
values of the Remaining Scheduled Payments of principal and interest on such Offered Securities to be redeemed (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date, on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), at the Treasury Rate plus 15 basis points (such greater amount is referred to herein as the “Redemption Price”), plus, in either the case of clause (a) or
clause (b), accrued and unpaid interest thereon to the Redemption Date. 
 
(B) As used herein: 
 

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Second Supplemental Indenture 

 
“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the remaining term of the Offered Securities to be redeemed that would
be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Offered Securities. 
 
“Comparable Treasury Price” means, with respect to
any Redemption Date: 
 
(a) the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or 
 
(b) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer
Quotations. 
 
“Independent Investment
Banker” means an independent investment institution of national standing selected by the Issuer and appointed by the Trustee. 
 
“Reference Treasury Dealer” means each of (a) J.P. Morgan Securities Inc., Merrill Lynch Government Securities Inc., Credit
Suisse First Boston LLC and Goldman, Sachs & Co., Inc. and their successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government Securities dealer in New York City (a “Primary Treasury
Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and (b) any other Primary Treasury Dealer selected by the Issuer. 
 
“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 3:30 p.m.,
New York City time, on the third Business Day preceding such Redemption Date. 
 
“Remaining Scheduled Payments” means the remaining scheduled payments of the principal thereof to be redeemed and interest thereon that would be due after the related Redemption Date but for
such redemption; provided, however, that, if such Redemption Date is not an Interest Payment Date (as set forth on the face of the Offered Securities) with respect to such Offered Securities, the amount of the next succeeding scheduled
interest payment thereon will be reduced by the amount of interest accrued thereon to such Redemption Date. 
 
“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 
 
(7) The Offered Securities shall not be redeemable at the
option of any holder thereof, upon the occurrence of any particular circumstances or otherwise. The Offered Securities will not have the benefit of any sinking fund. 
 

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Second Supplemental Indenture 

 
(8) The
holders of the Offered Securities shall have no special rights in addition to those provided in the Base Indenture upon the occurrence of any particular events. 
 
(9) The Offered Securities shall constitute general unsecured and unsubordinated obligations of the Issuer
and will be ranked equally among themselves. 
 
(10) The Offered Securities are not convertible into shares of common stock or other securities of the Issuer. 
 
Section 1.2. Additional Covenants. The following additional covenants shall apply with respect to the Offered Securities so
long as any of the Offered Securities remain Outstanding (and not with respect to any other series of securities issuable pursuant to the Base Indenture unless a supplemental indenture relating thereto expressly so provides): 
 
(1) Limitation on Liens. 
 
Other than as provided in subsection (3) below, so long as any
of the Offered Securities are Outstanding, neither the Issuer nor any Subsidiary shall create, incur, assume or suffer to exist any Lien upon any of its assets to secure any Indebtedness, except for: 
 
(a) Liens existing on the date hereof; 
 
(b) any extension, renewal or replacement (or successive
extensions, renewals or replacements) of any Lien existing on the date hereof; 
 
(c) Liens on property that are in existence at the time the Issuer or any Subsidiary acquires such property, provided that such Liens (i) are not incurred in connection with, or in contemplation
of the acquisition of the property acquired and (ii) do not extend to or cover any property or assets of the Issuer or any Subsidiary other than the property so acquired; 
 
(d) Liens on any property of a Person existing at the time such Person becomes a Subsidiary or is merged into
or consolidated with the Issuer or a Subsidiary or at the time of a sale, lease or other disposition of the properties of such Person as an entirety or substantially as an entirety to the Issuer or a Subsidiary; provided that such Liens (i)
are not incurred in connection with or in contemplation of such Person becoming a Subsidiary or merging or consolidating with the Issuer or a Subsidiary or are not incurred in connection with or in contemplation of the sale, lease or other
disposition of the properties of such Person and (ii) do not extend to or cover any property or assets of the Issuer or any of its Subsidiaries, other than the property of such Person; and 
 
(e) purchase money Liens upon or in any real or personal property (including fixtures and other equipment)
acquired or held by the Issuer or any Subsidiary to secure the purchase price of such property or to secure Indebtedness incurred solely for the purpose of financing or refinancing the acquisition or improvement of such property and incurred within
180 days after completion of such acquisition or improvement, provided that no such Lien shall extend to or cover any property other than the property being acquired or improved. 
 

4 
Second Supplemental Indenture 

 
(2)
Limitation on Sale/Leaseback Transactions. 
 
Other than as provided in subsection (3) below, neither the Issuer nor any of its Subsidiaries may enter into any Sale/Leaseback Transaction unless the Issuer or such Subsidiary would be entitled, pursuant to subsection (1) above, to
create, incur, assume or suffer to exist a Lien on the property subject to such Sale/Leaseback Transaction. 
 
(3) Permitted Liens and Permitted Sale/Leaseback Transactions. 
 
Notwithstanding the restrictions set forth in subsections (1) and (2) above, the Issuer or any of its
Subsidiaries may create, incur, assume or suffer to exist any Lien or enter into any Sale/Leaseback Transactions not otherwise permitted in subsections (1) and (2) above; provided that at the time of such event, and after giving effect
thereto, the aggregate amount of all Indebtedness secured by Liens permitted by this subsection (3) (excluding the Liens permitted pursuant to subsection (1) above) and the aggregate amount of all Attributable Debt in respect of Sale/Leaseback
Transactions permitted by this subsection (3) (excluding the Sale/Leaseback Transactions permitted pursuant to subsection (2) above), measured, in each case, at the time any such Lien is incurred or any such Sale/Leaseback Transaction is entered
into, by the Issuer or any Subsidiary does not exceed 20% of the Consolidated Net Tangible Assets. 
 
Section 1.3 Additional Event of Default. The following additional event shall be established and shall constitute an
“Event of Default” under Section 6.01(a) of the Base Indenture with respect to the Offered Securities so long as any of the Offered Securities remain Outstanding (and not with respect to any other series of securities issuable pursuant to
the Base Indenture unless a supplemental indenture relating thereto expressly so provides): 
 
(6) any of the Issuer’s Indebtedness in the aggregate Outstanding principal amount of $100 million or more either (i) becomes due and payable prior to the due date for payment thereof by reason of
acceleration thereof following default by the Issuer or (ii) is not repaid at, and remains unpaid after, maturity as extended by the period of grace, if any, applicable thereto, or any guarantee given by the Issuer in respect of Indebtedness of any
other Person in the aggregate Outstanding principal amount of $100 million or more is not honored when, and remains dishonored after, becoming due. 
 
Section 1.4 Additional Defined Terms. As used herein, the following defined terms shall have the following meanings with
respect to the Offered Securities only (and not with respect to any other series of securities issuable pursuant to the Base Indenture unless a supplemental indenture relating thereto expressly so provides): 
 
“Attributable Debt” with respect to any
Sale/Leaseback Transaction means the present value of the minimum rental payments called for during the term of the lease (including any period for which such lease has been extended), determined in accordance with generally accepted accounting
principles, discounted at a rate that, at the inception of the lease, the lessee would have incurred to borrow over a similar term the funds necessary to purchase the leased assets. 
 

5 
Second Supplemental Indenture 

 
“Business Day” means, any day other than a day on which Federal or State banking institutions in the Borough of Manhattan, the City of New York, or in the city where the office or agency for payment on the notes is
maintained pursuant to the Base Indenture are authorized or obligated by law, regulation or executive order to close. 
 
“Capital Lease” means, at the time any determination thereof is to be made, any lease of property, real or personal, in
respect of which the present value of the minimum rental commitment would be capitalized on a balance sheet of the lessee in accordance with generally accepted accounting principles. 
 
“Capital Lease Obligation” means, at the time any determination thereof is to be made, the
amount of the liability in respect of a Capital Lease which would at such time be so required to be capitalized on such balance sheet in accordance with generally accepted accounting principles. 
 
“Consolidated Net Tangible Assets” means, as
of any particular time, the aggregate amount of assets of the Issuer and its Subsidiaries (in each case, less applicable reserves and other properly deductible items) after deducting therefrom: (a) all current liabilities other than (i) notes and
loans payable, (ii) current maturities of long-term debt and (iii) current maturities of Capital Lease Obligations and (b) intangible assets, to the extent included in such aggregate assets, all as set forth on the Issuer’s and the
Issuer’s Subsidiaries’ then most recent consolidated balance sheet and computed in accordance with generally accepted accounting principles. 
 
“Indebtedness” means, with respect to any Person, and without duplication: 
 
(a) any liability of such Person (i) for borrowed money, or
(ii) for any letter of credit for the account of such Person supporting obligations of such Person or other Persons, or (iii) evidenced by a bond, note, debenture or similar instrument (including a purchase money obligation) given in connection with
the acquisition of any businesses, properties or assets of any kind (other than a trade payable or a current liability arising in the ordinary course of business), or (iv) for the payment of money relating to a capitalized lease; 
 
(b) any liability of others described in the preceding clause
(a) that the Person has guaranteed or that is otherwise its legal liability; and 
 
(c) any amendment, supplement, modification, deferral, renewal, extension or refunding of any liability of the types referred to in clauses (a) and (b) above. 
 
“Lien” means any lien, security interest,
charge, mortgage, pledge or other encumbrance of any kind (including any conditional sale or other title retention agreement, any lease in the nature thereof, and any agreement to give any security interest other than an agreement to secure
Indebtedness equally and ratably upon the incurrence of other secured Indebtedness). 
 
“Sale/Leaseback Transaction” means any arrangement with any Person (other than the Issuer or any Subsidiary) providing for a Capital Lease by the Issuer or any Subsidiary of any
property which has been or is to be sold or transferred by the Issuer or any Subsidiary to such 

 

6 
Second Supplemental Indenture 

Person or to any Person (other than the Issuer or any Subsidiary) by whom funds have been or are to be advanced on the security of the leased
property. 
 
ARTICLE II 
 
MISCELLANEOUS 
 
Section 2.1. Definitions. Capitalized terms used
but not defined in this Second Supplemental Indenture shall have the meanings ascribed thereto in the Base Indenture. 
 
Section 2.2. Confirmation of Indenture. The Base Indenture, as supplemented and amended by this Second Supplemental
Indenture, is in all respects ratified and confirmed, and the Base Indenture, this Second Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same instrument. 
 
Section 2.3. Concerning the Trustee. In carrying
out the Trustee’s responsibilities hereunder, the Trustee shall have all of the rights, protections and immunities which it possesses under the Indenture. The recitals contained herein and in the Offered Securities, except the Trustee’s
certificate of authentication, shall be taken as the statements of the Issuer, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Second Supplemental
Indenture or of the Offered Securities. The Trustee shall not be accountable for the use or application by the Issuer of the Offered Securities or the proceeds thereof. 
 
Section 2.4. Governing Law. The Indenture and the Offered Securities shall be governed by and
construed in accordance with the laws of the State of New York. The Indenture is subject to the provisions of the Trust Indenture Act that are required to be part of the Indenture and shall, to the extent applicable, be governed by such provisions.

 
Section 2.5. Separability. In case
any provision in this Second Supplemental Indenture shall for any reason be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 
Section 2.6. Counterparts. This
Second Supplemental Indenture may be executed in any number of counterparts each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. 
 
Section 2.7 No Benefit. Nothing in this Second
Supplemental Indenture, express or implied, shall give to any Person other than the parties hereto and their successors or assigns, and the holders of the Offered Securities, any benefit or legal or equitable rights, remedy or claim under this
Second Supplemental Indenture or the Base Indenture. 
 

7 
Second Supplemental Indenture 

 
IN WITNESS
WHEREOF, this Supplemental Indenture has been duly executed by the Issuer and the Trustee as of the day and year first written above. 
 

	 ISSUER: COMPUTER SCIENCES CORPORATION

	
	 By:
	 	  
 /s/    LEON J. LEVEL

	 	 	 Name:
	 	 Leon J. Level

	 	 	 Title:
	 	 Vice President and Chief Financial Officer

	
	 By:
	 	  
 /s/    HAYWARD D. FISK

	 	 	 Name:
	 	 Hayward D. Fisk

	 	 	 Title:
	 	 Vice President, General Counsel and Secretary

 
 

	 TRUSTEE: CITIBANK, N.A.

	
	 By:
	 	  
 /s/    WAFAA ORFY

	 	 	 Name:
	 	 Wafaa Orfy

	 	 	 Title:
	 	 Vice President

 

Second Supplemental Indenture 

EXHIBIT A 
FORM OF 3.50% NOTES 

 
THIS GLOBAL
SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE
TRUSTEE MAY MAKE ANY SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO THE INDENTURE, (II) THIS GLOBAL SECURITY MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.05(c) OF THE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED TO
THE TRUSTEE FOR CANCELLATION PURSUANT TO THE INDENTURE AND (IV) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 
UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY
NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR TO ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN
THE NAME OF ANY ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO SUCH ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN. 
 
3.50% NOTES DUE APRIL 15, 2008 
 

	 No. 1
	 	 $300,000,000

	 CUSIP No. 205363 AG 9
	 	 

 
COMPUTER
SCIENCES CORPORATION 
 
promises to pay to Cede & Co. or
registered assigns, the principal sum of Three Hundred Million Dollars on April 15, 2008. 
 
Interest Payment Dates: April 15 and October 15 
Record Dates: The close of business on the date fifteen days prior
to each interest payment date. 
 
Each
Securityholder hereof, by accepting the same, agrees to and shall be bound by the provisions hereof and of the Indenture described herein, and authorizes and directs the Trustee described herein on his or her behalf to be bound by such provisions.
Each Securityholder hereof, by his or her acceptance hereof, hereby waives all notice of the acceptance of the provisions contained herein and in the Indenture and waives reliance by each such Securityholder upon said provisions. 
 
This Security shall not be entitled to any benefit under the
Indenture hereinafter referred to, or be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. The provisions of this Security are continued on the reverse
side hereof and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 
 
IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal. 
(SEAL) 
 

	 	 	 	 	 Date: April 3, 2003

	
	 	 	 	 	 COMPUTER SCIENCES CORPORATION

	
	 By:
	 	
	 	 	 	 By:
	 	

	 Name:
	 	 Leon J. Level
	 	 	 	 Name:
	 	 Hayward D. Fisk

	 Title:
	 	 Vice President and Chief Financial Officer
	 	 	 	 Title:
	 	 Vice President, General Counsel and Secretary

 
CERTIFICATE
OF AUTHENTICATION 
 
This is one of the Securities (as defined
below) of the series designated therein referred to in the within-mentioned Indenture. 
 

	
	 CITIBANK, N.A., as Trustee

	
	 By:
	 	
 Authorized Signature

	
	 Dated:
	 	

 
Computer
Sciences Corporation 
 
3.50% Notes due April
15, 2008 
 
This security is one of a duly authorized series of
debt securities of Computer Sciences Corporation, a Nevada corporation (the “Company”) issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s unsubordinated debt securities, dated as of
February 10, 2003 (the “Base Indenture”), duly executed and delivered by and between the Company and Citibank, N.A. (the “Trustee”), as supplemented by the First Supplemental Indenture, dated as of February 14, 2003 (the
“First Supplemental Indenture”), by and between the Company and the Trustee and the Second Supplemental Indenture, dated as of April 3, 2003 (the “Second Supplemental Indenture”), by and between the Company and the Trustee. The
Base Indenture as supplemented and amended by the First Supplemental Indenture and the Second Supplemental Indenture shall be referred to herein as the “Indenture.” By the terms of the Base Indenture, the debt securities issuable
thereunder are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This security is one of the series designated on the face hereof (individually, a
“Security,” and collectively, the “Securities”), and reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company and the holders
of the Securities (“Securityholders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Second Supplemental Indenture, as applicable. 
 
1.    Interest.    The Company promises to pay interest on the principal amount of this Security at a rate per annum of 3.50%. The Company will pay interest semi-annually on April 15 and
October 15 of each year (each such day, an “Interest Payment Date”). If any Interest Payment Date, redemption date or maturity date of this Security is not a Business Day, then payment of interest or principal (and premium, if any) shall
be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue for the period after such date to the next succeeding Business Day. Interest on the Securities will
accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid, from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is
authenticated between a regular record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the first Interest Payment
Date shall be October 15, 2003. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
 
2.    Method of Payment.    The Company will pay interest on the Securities (except
defaulted interest), if any, to the persons in whose name such Securities are registered at the close of business on the regular record date referred to on the facing page of this Security for such interest installment. In the event that the
Securities or a portion thereof are called for redemption and the Redemption Date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Securities will be paid upon
presentation and surrender of such Securities as provided in the Indenture. The principal of and the interest on the Securities shall be payable in the coin or currency of the 

United States of America that at the time is legal tender for public and private debt, at the office or
agency of the Company maintained for that purpose in accordance with the Indenture. 
 
3.    Paying Agent and Registrar.    Initially, Citibank, N.A., the Trustee, will act as paying agent and Security Registrar. The Company may change or
appoint any paying agent or Security Registrar without notice to any Securityholder. The Company may act in any such capacity. 
 
4.    Indenture.    The terms of the Securities include those stated in the Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of 1939 (“TIA”) as in effect on the date the Indenture is qualified. The Securities are subject to all such terms, and Securityholders are referred to the Indenture
and TIA for a statement of such terms. The Securities are unsecured general obligations of the Company and constitute the series designated on the face hereof as the “3.50% Notes due April 15, 2008”, initially limited to $300,000,000 in
aggregate principal amount. 
 
The Company will
furnish to any Securityholder upon written request and without charge a copy of the Base Indenture and the Second Supplemental Indenture. Requests may be made to: Computer Sciences Corporation, 2100 East Grand Avenue, El Segundo, California 90245,
Attention: Corporate Secretary. 
 
5.    Optional Redemption.    The Securities will be subject to redemption at the option of the Company on any date prior to the maturity date, in whole or from time to time in part, in
$1,000 increments (provided that any remaining principal amount thereof shall be at least the minimum authorized denomination thereof), on written notice given to the Securityholders thereof not less than 30 days nor more than 90 days prior
to the date fixed for redemption in such notice (the “Redemption Date”), at a redemption price equal to the greater of (i) 100% of the principal amount of such Securities to be redeemed and (ii) the sum of the present values of the
Remaining Scheduled Payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date, on a semi-annual basis (assuming a 360-day year consisting
of twelve 30-day months), at the Treasury Rate plus 15 basis points (such greater amount is referred to herein as the “Redemption Price”), plus, in either the case of clause (i) or clause (ii), accrued and unpaid interest thereon to the
Redemption Date.  
 
If the giving of the
notice of redemption is completed as provided in the Indenture, interest on such Securities or portions of Securities shall cease to accrue on and after the Redemption Date, unless the Company shall default in the payment of such redemption price
and accrued interest with respect to any such Security or portion thereof. 
 
The Company shall not be required to make mandatory redemption or sinking fund payments with respect to the Securities. 
 
6.    Denominations, Transfer, Exchange.    The Securities are
in registered form without coupons in the denominations of $1,000 or any integral multiple of $1,000. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Securities may be presented for
exchange or for registration of transfer (duly endorsed or 

with the form of transfer endorsed thereon duly executed if so required by the Company or the Security
Registrar) at the office of the Security Registrar or at the office of any transfer agent designated by the Company for such purpose. No service charge will be made for any registration of transfer or exchange, but a Securityholder may be required
to pay any applicable taxes or other governmental charges. If the Securities are to be redeemed, the Company will not be required to: (i) issue, register the transfer of, or exchange any Security during a period beginning at the opening of business
15 days before the day of mailing of a notice of redemption of less than all of the outstanding Securities of the same series and ending at the close of business on the day of such mailing; (ii) register the transfer of or exchange any Security of
any series or portions thereof selected for redemption, in whole or in part, except the unredeemed portion of any such Security being redeemed in part; nor (iii) register the transfer of or exchange a Security of any series between the applicable
record date and the next succeeding Interest Payment Date. 
 
7.    Persons Deemed Owners.    The registered Securityholder of a Security may be treated as its owner for all purposes. 
 
8.    Amendments, Supplements and Waivers.    The Base
Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Outstanding debt securities of each series affected by such supplemental indenture
or indentures (including the Securities, if applicable) to execute supplemental indentures for the purpose of adding or eliminating any provisions to the Base Indenture or of modifying in any manner the rights of the holders of the securities of
such series; provided, however, that no such supplemental indenture shall, without the consent of each holder of Outstanding securities affected thereby: (i) extend a fixed maturity of or any installment of principal of any securities
of any series or reduce the principal amount thereof, or reduce the amount of principal of any original issue discount security that would be due and payable upon declaration of acceleration of the maturity thereof; (ii) reduce the rate of or extend
the time for payment of interest of any Security of any series; (iii) reduce the premium payable upon the redemption of any Security; (iv) make any Security payable in Currency other than that stated in the Security; (v) impair the right to
institute suit for the enforcement of any payment on or after the fixed maturity thereof (or in the case or redemption, on or after the redemption date); or (vi) reduce the percentage in principal amount of the Outstanding debt securities of any
series issued pursuant to the Base Indenture, the holders of which are required to consent to any such supplemental indenture or indentures. The Base Indenture also contains provisions permitting the holders of not less than a majority in aggregate
principal amount of the Outstanding debt securities of each series affected thereby, on behalf of all of the holders of the securities of such series, to waive any past Default under the Base Indenture, and its consequences, except a Default in the
payment of the principal of, premium, if any, or interest on any security of such series or a Default in respect of a covenant or provision of the Base Indenture which cannot be modified or amended without the consent of the holder of each
Outstanding security of such affected series. Any such consent or waiver by the registered holder of this Security shall be conclusive and binding upon such holder and upon all future holders and owners of this Security and of any Security issued in
exchange for this Security or in place hereof (whether by registration of transfer or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon this Security. 

 
9.    Defaults and Remedies.    Events of Default under the Indenture include, with respect to the debt securities of any series issued pursuant to the Base Indenture (including the
Securities): (i) failure to pay interest when due and such failure continues for 90 days and the time for payment has not been extended or deferred; (ii) failure to pay the principal (or premium, if any) when due; (iii) failure to observe or perform
any other covenant contained herein or in the Indenture with respect to the series of debt securities, and such failure continues for 90 days after the Company has received notice from the Trustee or the holders of at least 25% in aggregate
principal amount of the Outstanding securities of the series; and (iv) certain events of bankruptcy, insolvency or reorganization of the Company. If an Event of Default with respect to the debt securities of a series issued pursuant to the Base
Indenture occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the Outstanding securities of such series, by notice in writing to the Company (and to the Trustee if notice is given by such holders),
may declare the unpaid principal of, premium, if any, and accrued interest, if any, due and payable immediately. Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur and be continuing, the Trustee will be
under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the holders, unless such holders have offered the Trustee indemnity satisfactory to it. Upon satisfaction of certain conditions set
forth in the Indenture, the holders of a majority in principal amount of the Outstanding debt securities of a series issued pursuant to the Base Indenture will have the right to direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the securities of such series. 
 
10.    No Recourse Against Others.    No recourse under or upon any obligation, covenant or
agreement of the Indenture, or of any Security, or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of
any predecessor or successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or
otherwise; it being expressly understood that the Indenture and the obligations issued hereunder and thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the
obligations, covenants or agreements contained in the Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute,
of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or
agreements contained in the Indenture or in the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the acceptance of the Securities. 
 
11.    Discharge of
Indenture.    The Indenture contains certain provisions pertaining to defeasance, which provisions shall for all purposes have the same effect as if set forth herein. 

 
12.    Authentication.    This Security shall not be valid until the Trustee signs the certificate of authentication attached to the other side of this Security. 
 
13.    Abbreviations.    Customary abbreviations may be used in the name of a Securityholder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 
14.    Governing Law.    The Base Indenture, the Second Supplemental Indenture and the
Securities shall be construed in accordance with and governed by the laws of the State of New York. 

 
ASSIGNMENT FORM

 
To assign this Security, fill in the form below:
(I) or (we) assign and transfer this Security to 
 
                                     
                                        
                                        
                                        
                                        
                                        
                     
(Insert assignee’s soc. sec. or tax I.D. no.) 
 
                                     
                                        
                                        
                                        
                                        
                                        
                     
 
                                     
                                        
                                        
                                        
                                        
                                        
                     
 
                                     
                                        
                                        
                                        
                                        
                                        
                     
 
                                     
                                        
                                        
                                        
                                        
                                        
                     
(Print or type assignee’s name, address and zip code) 
 
and irrevocably appoint                                
                                        
                                        
                                        
                                        
                     
agent to
transfer this Security on the books of the Company. The agent may substitute another to act for him. 
 
                                     
                                        
                                        
                                        
                                        
                                        
                     
 
Date:
                                        

 
Your
Signature:                                      
                                   
 
(Sign exactly as your name appears on the
face of this Security) 
 
Signature Guarantee<PAGE>

[LOGO OF UBS]                                              Master No. 272-351697

                                                                   EXHIBIT 10.82

MASTER CREDIT AGREEMENT

1        LENDER

         UBS AG
         Barenplatz 8
         3001 Berne

         (referred to below as 'UBS')

2        BORROWER

         Staar Surgical AG
         Hauptstrasse 104
         3560 Nidau

         (referred to below as 'the Borrower')

3        CREDIT FACILITY

         UBS grants to the Borrower a credit facility in a maximum amount of CHF
         5'000'000.-- (Swiss francs five million).

4        FINANCING PURPOSE

         General corporate financing purposes

5        ADDITIONAL BORROWER

         None

6        AVAILABILITY

         Subject to the terms and conditions of this Credit Agreement (Clauses
         3, 10 and 11) this credit facility is available for:

         Tranche A: Up to a maximum amount of CHF 3'000'000.--

         (1)      UBS current account in CHF and/or any other freely available
                  and convertible currency, in accordance with the 'Credit
                  Terms'.

         (2)      UBS fixed term advances for periods of 1 - 12 months in an
                  amount of at least CHF 500'000.-- and/or the equivalent in
                  any other freely available and convertible currency, in
                  accordance with the 'Credit Terms'.

         Tranche B: Up to a maximum amount of CHF 2'000'000.--

         (3)      UBS term loans with periods of 1 up to 5 years during the
                  total life of the loan in an amount of at least CHF 500'000.--
                  and/or any other freely available and convertible currency, in
                  accordance with the 'Credit Terms'.

7        CONDITIONS/MARGIN

         Interest shall be calculated on a base interest rate plus an individual
         margin. An explanation of the base interest rate, margin and
         calculation methods is given in the 'Credit Terms'.

                                    Page 1/5

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[LOGO OF UBS]

7.1      UBS CURRENT ACCOUNTS

         At the present time, the following interest rate for Swiss francs
         applies:

         Interest rate            5,50 % per annum

         Credit commission        0,25 % per quarter, calculated on the
                                   average debit balance

7.2      UBS FIXED TERM ADVANCES

         The interest rate will be fixed in accordance with the 'Credit Terms'.

7.3      UBS TERM LOANS

         The interest rate will be fixed in accordance with the 'Credit Terms'.

8        COMMITMENT FEE

         None

9        FEES / COMMISSIONS

         None

10       CANCELLATION/AMORTISATION

         Amortisation on Tranche A:

         None

         Amortisation on Tranche B:

         CHF 500'000.-- per annum, payable half-yearly with CHF 250'000.-- each
         time on June 30 and on December 31; for the first time on June 30,
         2002.

11       TERM OF THE FACILITY / TERMINATION

         Until further notice.

         Termination shall be effected in accordance with the 'Credit Terms',
         whereby UBS may undertake exceptional termination as provided under
         Article 2.2.2. if the ownership of/control over the Borrower, who is a
         group company is subject to change to a degree deemed, in the opinion
         of UBS, to be substantial.

12       SECURITY

         The items listed below shall secure all claims of UBS including all
         interest and commissions, due and to become due under this Credit
         Agreement, etc.

         (1)      General Purposes Assignment of Claims, in accordance with
                  separate form 'Global Assignment'.

13       REPRESENTATIONS AND WARRANTIES

         The Borrower represents and warrants that

         (1)      the Borrower has not created any security interest in respect
                  of its own obligations and/or the obligations of third parties
                  other than security given under this Credit Agreement or in
                  the context of other credit agreements with UBS and/or
                  security given in favour of other creditors, and which have
                  been notified to UBS;

         (2)      no event has occurred which would entitle UBS to effect
                  extraordinary termination in accordance with the 'Credit
                  Terms' and no litigation is pending which could have a
                  materially adverse effect on it or its assets;

<PAGE>

[LOGO OF UBS]

         (3)      at the time of entering into this Credit Agreement there is no
                  official order within the context of applicable rules and
                  regulations regarding the protection of the environment,
                  namely the Environmental Protection Law and the Clean Water
                  Act, affecting it or any company controlled by it, which could
                  have a materially adverse effect on its ability to perform its
                  financial obligations.

14       POSITIVE COVENANTS

         (1)      The Borrower undertakes throughout the entire term of this
                  Credit Agreement to keep his equity in a minimum amount of CHF
                  15'800'000.--

                  Equity: Capital, statutory and free reserves, profit carried
                  forward.

15       NEGATIVE COVENANTS

         (1)      The Borrower will not enter into any obligation, which is
                  secured by any mortgage, charge, assignment, pledge or other
                  encumbrance on the whole or on any part of its revenues,
                  assets or other property (present or future) and shall not
                  secure any of its existing debt in the above manner, unless
                  the benefit of any security is simultaneously extended equally
                  and rateably to the obligations under this credit facility in
                  such manner that UBS deems necessary in order that the
                  obligations under this credit facility will rank pari passu
                  with all other obligations. This provision shall not apply to
                  existing security which secures any renewal or extension of
                  the originally secured obligations.

         (2)      Furthermore, the Borrower shall not give any guarantee,
                  indemnity or any other security for any obligation of any of
                  its directly or indirectly controlled subsidiaries or any
                  third party. The Borrower shall moreover procure, that each of
                  its directly or indirectly controlled subsidiaries will not
                  give any guarantee, indemnity or any other security for any
                  obligation of any of his directly or indirectly controlled
                  subsidiaries or any third party. This provision shall not
                  apply to any guarantee, indemnity or any other security which
                  is given for the obligations under this credit facility.

         (3)      The Borrower undertakes throughout the entire term of this
                  Credit Agreement not to make any repayment under the
                  shareholder's loan in the amount of CHF 11'834'044.-- (as per
                  balance sheet of December 31, 1999) without prior consent of
                  UBS.

16       FINANCIAL RATIOS

         The Borrower undertakes during the entire term of the Credit Agreement
         at any time to comply with the following key ratio:

         Interest coverage factor in the financial statement of the Borrower of
         at least 10 x.

         The interest coverage factor is calculated as follows: EBITDA in ratio
         to interest expenditure.

         For the computation of this key financial figure and ratio, the term
         listed below shall have the following meaning:

         EBITDA:  operating profit before interest, taxes, depreciation on
                  property, plant, equipment, financial investments as well as
                  amortisation of intangibles (such as goodwill, licences, etc.)
                  and provisions.

17.      INFORMATION

         In accordance with the 'Credit Terms'.

         In addition, the Borrower undertakes to furnish UBS with the following
         information during the entire term of the Credit Agreement:

         (1)      one copy of the balance sheet and profit and loss account
                  statement including any appendixes together with the auditors'
                  report, by no later than four months after the close of the
                  fiscal year (separately and Staar Company consolidated);

         (2)      one copy of the budget, including the investment budget, by no
                  later than 30 calendar days before the start of the relevant
                  fiscal year (separately and Staar Company consolidated);

         Where agreed under Clause 16, UBS shall receive a compliance
         certificate, duly signed by the auditor, with the above key figure by
         no later than four months after the close of each fiscal year.

<PAGE>

[LOGO OF UBS]

18       CONDITIONS PRECEDENT

         The credit facility granted under this Credit Agreement may only be
         utilised subject to UBS having received all the documents and/or
         security listed hereafter in the required form. Should the documents
         and/or security required not be submitted in proper form within one
         month from the date of this Credit Agreement, UBS may cancel this
         Credit Agreement without need of any further legal formality.

         The following documents must be submitted to UBS both in due time and
         duly executed;

         (1)      a copy of this Credit Agreement

         (2)      a copy of the 'Credit Terms'

         (3)      'Global Assignment' in accordance with Clause 12.2 of the
                  Credit Agreement

         (4)      'Repledging of Your Collateral'

19       FURTHER PROVISIONS

         (1)      The 'General Conditions' as well as the 'Credit Terms' of UBS
                  shall form an integral part of this Credit Agreement.

20       TRANSFER

         UBS is free to offer for transfer or transfer its rights and
         obligations under the credit relationship including any collateral
         therefor such as certificates of indebtedness or other collateral, in
         part or in full, to third parties living in Switzerland and abroad. It
         shall be permitted to disclose any information and data collected in
         connection with the present Agreement to third parties involved in such
         transfer, including rating agencies. Where such third parties are not
         subject to Swiss banking secrecy laws, information and data will only
         be passed on where they undertake to maintain secrecy and require such
         secrecy from possible further contracting partners.

         UBS is free, without being required to obtain the client's consent, to
         transfer limit obligations as well as other obligations from a credit
         relationship to their acquirer together with the claim. The acquirer of
         such obligations must either be an associated company of UBS or a Swiss
         or foreign financial institution (bank, insurance company or other). To
         the extent that UBS transfers an obligation, it shall be freed
         therefrom.

21       WAIVER OF SET-OFF

         The Borrower waives his right to fulfil his obligations by setting
         them off with any claims he may have towards UBS.

22       APPLICABLE LAW AND JURISDICTION

         Both this Credit Agreement and the 'Credit Terms' shall be exclusively
         governed by and construed in accordance with Swiss law. The place of
         performance, the place of debt collection (only for persons domiciled
         outside of Switzerland) as well as the exclusive place of jurisdiction
         for any disputes arising out of and in connection with this agreements
         shall be Berne.

         UBS reserves the right, however, to take legal action at the domicile
         of the Borrower or any other competent authority, in which event
         exclusively Swiss law shall remain applicable.

<PAGE>

[LOGO OF UBS]

This contract is executed in 3 original copies and replaces the contract dated
December 29, 1997/August 21, 1998.

Berne, November 27,2000           UBS AG
FOIK/FAC2-YVQ

                                  /s/  Norbert Schacht   /s/  Marco Speichinger
                                       ---------------        -----------------
                                       Norbert Schacht        Marco Speichinger

In agreement:                     Staar Surgical AG

Nidau, 15/12/00                   /s/ Deborah J. Andrews
                                      ------------------
Place, date                           Deborah J. Andrews

In agreement
With Clause 11+15.3.:             Staar Surgical Co., Monrovia / USA

Monrovia CA 12/29/00              /s/ John Santos
---------------                       ---------------
Place, date                           John Santos

We hereby confirm the authenticity of the signatures of Staar Surgical Company,
Monrovia. The above signatures are legally binding Staar Surgical Company,
Monrovia.

                                  Staar Surgical AG

/s/  Nidau, 15/12/00              /s/ Deborah J. Andrews
     -----------                      -------------------
Place, date                           Deborah J. Andrews

<PAGE>

[LOGO OF UBS]                                              Master No. 272-351697

CREDIT TERMS

These 'Credit Terms' together with the 'General Conditions' of UBS AG
(hereinafter UBS) are valid for all Credit Agreements in which they are started
to be applicable. A Clause is a reference to a Clause in the relevant Credit
Agreement.

These 'Credit Terms' shall cease to apply once all obligations under the
relevant Credit Agreement have been repaid or are otherwise definitively
extinguished and the credit lines concerned have been cancelled.

DEFINITION GROUP COMPANIES

Group Company shall mean any company in accordance with artice 563 lit. (e)
paragraph 1 of the Swiss Code of Obligations.

1.       CONDITIONS/MARGIN (CLAUSE 7 OF THE CREDIT AGREEMENT)

1.1      CONDITIONS

1.1.1    INTEREST CALCULATIONS

Interest will be calculated based on a 365/360 year, i.e. actual number of days
per month on the basis of a 360-day year. Calculation methods used for selected
foreign currencies, UBS portfolio mortgage and UBS variable mortgage are
available upon request.

1.1.2    UBS CURRENT ACCOUNT

Accrued Interest and commission will be charged quarterly at the end of each
calendar quarter. Prior written notice of any interest rate changes will be
provided.

1.1.3    UBS FIXED TERM ADVANCE/UBS ROLL-OVER LOAN AND UBS ROLL-OVER MORTGAGE

For any advance, loan and/or mortgage with a term of up to and 6 months,
principal and interest will be calculated upon expiration of the term. For any
advance, loan and/or mortgage with a term of more than 6 months, principal and
interest will be calculated quarterly at the end of each calendar quarter as
well as upon expiration of the term.

The base interest rate used follows Euromarket conditions for loans of the
corresponding term and currency. Where no extension of the term is agreed, both
interest and principal will be charged to the relevant current account in each
case.

The interest rate will be fixed two bank working days prior to drawdown or
renewal for the corresponding term and currency. The instructions for drawdown
or renewal must be received by UBS at least two bank working days before such
drawdown or renewal. Where such instructions are unavailable, advances falling
due will not be renewed and both principal and interest will be debited to the
relevant current account.

1.1.4    UBS TERM LOAN

Interest will be calculated and debited quarterly at the end of each calendar
quarter as well as upon expiration of the term of the loan.

The base interest rate used follows Euromarket conditions for loans of the
corresponding term and currency. Interest will be charged to the relevant
current account. The interest rate will be set two bank working days before
drawdown, and will be fixed for the entire term agreed. The instructions for
receipt of funds must be received by UBS at least two bank working days before
drawdown.

1.1.5    UBS FIXED MORTGAGE

Interest will be calculated and debited quarterly at the end of each calendar
quarter as well as upon final expiration of the term of the mortgage.

The base interest rate used follows Euromarket conditions. Interest will be
charged to the relevant current account. The interest rate will be fixed two
bank working days prior to drawdown, and will be fixed for the entire term
agreed. The instructions for drawdown must be received by UBS at least two bank
working days before drawdown.

1.1.6    UBS PORTFOLIO MORTGAGE

Interest will be calculated and debited quarterly at the end of each calendar
quarter. Interest will be charged to the current account.

The base interest rate is the average of the fixed interest rates of all the
portfolio's capital tranches. At the end of each calendar quarter, a capital
tranche of the portfolio becomes due and will immediately be replaced with a new
tranche at current market conditions (Interbank rate SWIBOR = Swap Interbank
Offered Rate, for the agreed interest period, plus 0,15% p.a. capital costs).
Hence, the portfolio's base interest rate changes quarterly. The base interest
rate applying from time to time will be published in the media. The publication
in 'Investdata' shall prevail.

1.1.7    UBS LIBOR MORTGAGE

Interest will be calculated and debited semi-annually, on the last day in the
months of June and December on which banks are open for business in London. The
6-month CHF LIBOR will be used as the base interest rate. For each 6 month
interest period the interest rate will be fixed 2 bank working days before the
day of disbursement or the interest due date as the case may be and communicated
in writing.

<PAGE>

[LOGO OF UBS]

If disbursement of the mortgage does not take place on the first day of the
first 6 month interest period, UBS will fix the basic interest rate for the
period from the first day of such interest period to the date disbursement
actually takes place based on the Euromarket interest rate applicable for that
period (plus margin) and will communicate the rate in writing.

1.1.8    UBS VARIABLE MORTGAGE

Interest will be calculated and debited quarterly at the end of each calendar
quarter. Interest will be debited to the relevant current account. Prior written
notice of any interest, rate changes will be provided.

1.2      MARGIN

An individual margin will be added to the base interest rates applicable for the
relevant form of utilization.

2        TERMINATION (CLAUSE 11 OF THE CREDIT AGREEMENT)

2.1      ORDINARY TERMINATION

2.1.1    ORDINARY TERMINATION BY THE BORROWER

The Borrower may at any time terminate the Credit Agreement with immediate
effect. Where the Borrower gives notice of termination, such notice shall also
be binding for every Additional Borrower. The unused portion of any committed
credit lines may be cancelled in whole or in part with effect from the end of a
quarter by giving not less than 30 calendar days prior notice. The credit
facility will immediately be reduced by the amount of such cancellation. Where
credit lines have been used, the outstanding amounts will become due for
repayment in accordance with Clause 2.1.2.

2.1.2    ORDINARY TERMINATION BY UBS

UBS may terminate the Credit Agreement with immediate effect and refuse any
drawdown in respect of uncommitted credit lines in its absolute discretion and
without giving reasons therefor. The unused portion of any uncommitted credit
line will be cancelled with immediate effect upon termination. Where credit
lines have been used, the outstanding amounts will become due for repayment as
follows:

-        UBS current account
         immediately

-        UBS fixed term advance
         upon expiration of the fixed term

-        UBS term loan/UBS fixed mortgage/UBS roll-over loan/UBS roll-over
         mortgage
         upon expiration of the term agreed in clause 11 of the applicable
         Credit Agreement.

-        UBS variable mortgage/UBS portfolio mortgage
         upon the expiration of the advance notice period of 90 calendar days

Letters of credit and guarantees issued by UBS shall remain fully valid, and the
Borrower shall remain liable in relation thereto, in accordance with the
relevant terms and provision.

2.2      EXTRAORDINARY TERMINATION

2.2.1    EXTRAORDINARY TERMINATION BY THE BORROWER

The Borrower may at any time upon giving 30 calendar days prior notice terminate
the Credit Agreement in whole or in part and repay any outstanding amounts or
have repayment effectuated by the Additional Borrowers. If prepayment is made
during an interest period or on a date other than the agreed repayment date, an
indemnity pursuant to paragraph 4.3 'Indemnity' shall be payable on the actual
day prepayment is made.

2.2.2    EXTRAORDINARY TERMINATION BY UBS

UBS has the right to terminate the Credit Agreement with immediate effect at any
time, and to declare all outstanding amounts including accrued interest,
commissions, fees etc., immediately due and payable - irrespective of the term
of any credit facility granted - in the event that:

(1)      the Borrower or a Group Company is in breach of a representation or
         warranty (Clause 13 of the Credit Agreement) or defaults in the
         performance of a covenant (Clause 14 to 17 of the Credit Agreement);

(2)      The Borrower or a Group Company fails to pay UBS or a third party
         (including any acquirers of credit claims) principal, interest and/or
         commissions on the due date therefor and such failure continues for a
         period of 30 calendar days, or fails to reduce overdrafts by repayment
         or to furnish sufficient additional security within any period set by
         UBS;

(3)      the Borrower or one of its Group Companies changes its legal or
         commercial structure, e.g. through liquidation, sale of a substantial
         part of its assets, change to its objects and business activities,
         merger or restructuring, provided that the relevant event has a
         material effect on its ability to perform its financial obligations;

                                                                        Page 2/4

<PAGE>

[LOGO OF UBS]

(4)      the Borrower or a Group Company becomes subject to a duty to effect
         restorative works due to an official order under applicable regulations
         designed to protect the environment, namely the Environmental
         Protection Law and Clean Water Act such duty having a material adverse
         effect on its ability to perform its financial obligations;

(5)      a material reduction of the value of the security is threatened or has
         occurred;

(6)      debt collection proceedings are initiated against the Borrower or a
         Group Company, assets are seized within the context of such debt
         collection proceedings or there is a material adverse change in the
         financial condition of the Borrower or a Group Company;

(7)      there is a change of ownership of the whole or any part of any
         mortgaged property.

If at the time of the extraordinary termination letters of credit or guarantees
issued by UBS are outstanding, the Borrower and/or the relevant Additional
Borrower undertake to release UBS from these contingent commitments immediately
or will secure such commitments by granting to UBS a pledge of assets deemed
acceptable by UBS up to the full amount of those commitments plus the usual bank
margin.

3        INFORMATION (CLAUSE 17 OF THE CREDIT AGREEMENT)

The Borrower and each of the Additional Borrowers hereby undertake to inform UBS
immediately during the term of the Credit Agreement of any material changes; and
in particular, if any circumstances become apparent or occur which may be or
become an event giving UBS the right of extraordinary termination.

The Borrower further undertakes to provide UBS on request, and in addition to
the information obligations entered into under the Credit Agreement with further
information regarding individual positions figuring in the financial statements
and the budget.

Where security exists in the form of a third party guarantee/indemnity/letter of
comfort, the Borrower undertakes to ensure that the information obligations
applicable to it will also be complied with by the relevant third party.

Where real estate financed by UBS is leased or rented in whole or in part to
third parties, UBS shall, without having to request such, on an annual basis, be
provided with a list of current tenants, simultaneously with the closing balance
documents. Such list shall include real estate accounts showing gross and net
rents, any rent reductions and empty properties, and in the case of commercial
real estate these accounts must also show the term of the lease and any index
clauses.

4        FURTHER PROVISIONS (CLAUSE 19 OF THE CREDIT AGREEMENT)

4.1      PAYMENTS

All payments must be made in freely transferable currency by crediting an
account in the country of the currency. UBS shall designate the relevant
account. If repayment in any such currency becomes unlawful or illegal due to
changes in the applicable law, repayment of the amount concerned shall take
place in Swiss francs at a rate fixed by UBS.

In the event that a payment falls due on a day that is not a bank working day,
the next bank working day shall be deemed to be the due date therefor.

4.2      INCREASED COST

In the event that increased costs are incurred by UBS due to official
regulations, for example the introduction of minimum reserves, credit taxation
or alterations in equity capital underpinning rates, these additional expenses
must be borne by the Borrower or the relevant Additional Borrower as
appropriate. In such cases, UBS will be entitled to increase correspondingly the
relevant interest/fees/commissions from the next following payment dates
onwards, subject however to advance notice of at least 30 calendar days.

If UBS is forced to increase the interest/fees/commissions in accordance with
this clause, the Borrower or the relevant Additional Borrower, as appropriate,
shall be entitled repay the credit/drawn funds affected by such increase
together with interest fees on the next following payment date, subject however
to an advance notice period of at least 30 calendar days. The costs of such
early repayment, such as those described under clause 4.3 'Indemnity' below must
be borne by the Borrower or the relevant Additional Borrower.

4.3      INDEMNITY

If

(1)      amounts outstanding are declared by UBS to be due for early repayment,
         or

(2)      amounts outstanding are prepaid by the Borrower or the relevant
         Additional Borrower, or

(3)      after the receipt of a drawdown notice therefor for any reason not
         attributable to UBS the corresponding payment is not made,

the Borrower or the relevant Additional Borrower shall indemnify UBS for any
disadvantage and/or costs that may have arisen thereby, for example in relation
to the potential difference between its base interest rate at the time and the
reinvestment rate which UBS could obtain on the Euromarket for the corresponding
currency and remaining term.

This shall not affect the right of UBS to receive additional indemnities under a
separate Credit Agreement.

This shall not affect the validity of the special provisions in respect of the
UBS portfolio mortgage.

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[LOGO OF UBS]

4.4      PRIORITY

Where several assets are pledged to satisfy the obligations to UBS, UBS shall
decide in its absolute discretion the extent and order of realization, and the
allocation of the proceeds of sale of such assets.

4.5      CONSIDERATION OF DRAWN FUNDS

Drawn funds will be counted towards the credit line in the currency of the
credit line (with foreign currencies being converted at the respective daily
rate).

4.6      EXCESS DRAWINGS

All excess drawings (Including excess of tranches or of maximum amounts agreed
under the Credit Agreement together with excesses arising due to changes in
currency exchange rates) shall be repaid within a time set by UBS or secured by
pledging of assets deemed acceptable by UBS to the value of such excess plus the
usual bank margin. Foreign currencies will be converted into the currency of the
facility in accordance with Clause 3 of the Credit Agreement at the spot rate
notified by UBS.

4.7      CONFLICTING PROVISIONS

In the event of conflict between interest, payment and/or termination provisions
stated in any mortgage deed and between the 'General Conditions' as well as the
'Credit Terms' and the corresponding Credit Agreement, the Credit Agreement
shall prevail.

This document has been executed in 3 original copies.

Berne, November 27, 2000          UBS AG
FOIK/FAC2-YVQ

                                  /s/ Norbert Schacht    /s/  Marco Speichinger
                                      ---------------         -----------------
                                     Norbert Schacht        Marco Speichinger

In agreement:                     Staar Surgical AG

Nidau, 15/12/00                   /s/ Deborah Andrews
---------------                       ---------------
Place, date                           Deborah J. Andrews

In agreement:                     Staar Surgical Co., Monrovia/USA

Monrovia CA USA 12/29/00          /s/ John Santos
-----------------------               ------------
Place, date                           John Santos

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}]]