Document:

Exhibit 10.9

                             LaserSight Incorporated
                           1996 Equity Incentive Plan
                 (as amended and restated as of April 19, 2001)

         Introduction. The LaserSight Incorporated 1996 Equity Incentive Plan
(the "Plan"), as established by LaserSight Incorporated, a Delaware corporation
(the "Company"), effective as of January 19, 1996, as amended and restated as of
April 29, 1998, as further amended and restated as of April 29, 1999, as further
amended and restated as of March 2, 2000 and as further amended and restated
effective April 19, 2001 (as so amended and restated, the "Plan"), and approved
by the holders of a majority of the shares of the Company's outstanding common
stock and preferred stock present or represented and entitled to vote at the
Company's 2001 annual meeting of stockholders.

         1. Purpose. The Plan is intended to allow employees and consultants to
acquire or increase equity ownership in the LaserSight, thereby strengthening
their commitment to the success of the Company and stimulating their efforts on
behalf of the Company, and to assist the Company in attracting new employees and
retaining existing employees.

         2. Definitions.

         The terms set forth below have the following meanings (such meanings to
be applicable to both the singular and plural forms):

         (a) "Award" means options, including incentive stock options,
Restricted Shares, Bonus Shares, stock appreciation rights ("SARs"), limited
stock appreciation rights ("LSARs"), or performance shares granted under the
Plan.

         (b) "Award Agreement" means the written agreement by which an Award
shall be evidenced.

         (c) "Board" means the Board of Directors of LaserSight.

         (d) "Bonus Shares" means shares of Stock that are awarded to a Grantee
without cost (other than a payment of the Minimum Consideration, if applicable)
and without restrictions in recognition of past performance or as an incentive
to become an employee of the Company.

         (e) "Cause" means a Grantee's commission of a crime which, in the
judgment of the Committee, is likely to result in material injury to the
Company; the material violation by the Grantee of written policies of the
Company; the habitual neglect by the Grantee in the performance of his or her
duties to the Company; or the action or inaction in connection with his or her
duties to the Company resulting, in the judgment of the Committee, in a material
injury to the Company.

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         (f) "Change of Control" means any one or more of the following:

                  (i) the acquisition or holding by any person, entity
         or "group" (within the meaning of Section 13(d)(3) or 14(d)(2) of the
         1934 Act, other than by the Company or any employee benefit plan of the
         Company, of beneficial ownership (within the meaning of SEC Rule 13d-3
         under the 1934 Act) of 25% or more of the then-outstanding Stock;
         provided, however, that no Change of Control shall occur solely by
         reason of any such acquisition by a corporation with respect to which,
         after such acquisition, more than 60% of the then-outstanding common
         shares of such corporation are then beneficially owned, directly or
         indirectly, by the persons who were the beneficial owners of the Stock
         immediately before such acquisition in substantially the same
         proportions as their respective ownership, immediately before such
         acquisition, of the then-outstanding Stock; or

                  (ii) individuals who, as of the Effective Date,
         constitute the Board (the "Incumbent Board") cease for any reason to
         constitute at least a majority of the Board; provided that any
         individual who becomes a director after the Effective Date whose
         election or nomination for election by the stockholders of LaserSight
         was approved by at least a majority of the Incumbent Board (other than
         an election or nomination of an individual whose initial assumption of
         office is in connection with an actual or threatened election contest
         (as such terms are used in SEC Rule 14a-11 under the 1934 Act) relating
         to the election of the directors of LaserSight ) shall be deemed to be
         a member of the Incumbent Board; or

                  (iii) approval by the stockholders of LaserSight of (A) a
         merger, reorganization or consolidation ("Transaction") with respect to
         which persons who were the respective beneficial owners of the Stock
         immediately before the Transaction do not, immediately thereafter,
         beneficially own, directly or indirectly, more than 60% of the
         then-outstanding common shares of the corporation resulting from the
         Transaction, (B) a liquidation or dissolution of LaserSight or (C) the
         sale or other disposition of all or substantially all of the assets of
         LaserSight.

         Notwithstanding the foregoing, a Change of Control not occur with
respect to any executive officer of the Company who is, by agreement or
understanding (written or otherwise), a participant on his or her own behalf in
a transaction which causes the Change of Control to occur.

         (g) "Change of Control Value" means the Fair Market Value of a share of
Stock on the date of a Change of Control.

         (h) "Code" means the Internal Revenue Code of 1986, as amended,
and regulations and rulings thereunder. References to a particular section of
the Code include references to successor provisions.

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         (i) "Committee" means the committee of the Board appointed pursuant to
Section 4(a).

         (j) "Company" -- see the introductory paragraph.

         (k) "Disability" means, for purposes of the exercise of an
incentive stock option after termination of employment, a disability within the
meaning of Section 22(e)(3) of the Code, and for all other purposes, a mental or
physical condition which, in the judgment of the Committee, renders a Grantee
unable to carry out the job responsibilities which such Grantee held or the
tasks to which such Grantee was assigned at the time the disability was
incurred, and which condition is expected to be permanent or for an indefinite
duration exceeding one year.

         (l) "Disqualifying Disposition" -- see Section 6(c)(vi);

         (m) "Effective Date" means January 19, 1996;

         (n) "Eligible Employee" means any employee (including any officer) or
consultant of the Company;

         (o) "Fair Market Value" of an equity security as of any date means:

                  (i) if the security is listed on a national securities
exchange or The NASDAQ Stock Market, the closing price, regular way, of the
security as reported on the consolidated transaction reporting system applicable
to such security, or if no such reported sale of the security have occurred on
such date, on the next preceding date on which there was such a reported sale,
or

                  (ii) if the security is not listed on a national
securities exchange or The NASDAQ Stock Market, but is listed on The NASDAQ
SmallCap Market, the average of the closing bid and asked prices, regular way,
on The NASDAQ SmallCap Market or, if no such prices have been so reported for
such date, on the latest preceding date for which such prices were so reported,
or

                  (iii) if the security is not listed on a national
securities exchange, The NASDAQ Stock Market or The NASDAQ SmallCap Market, the
fair market value of the security as determined in good faith by the Committee
by whatever means or method as it, in the good faith exercise of its discretion,
shall at such time deem appropriate.

         (p) "Grant Date" -- see Section 6(a)(i).

         (q) "Grantee" means an individual who has been granted an Award.
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         (r) "Immediate Family" means, with respect to a particular Grantee,
such Grantee's spouse, children and grandchildren.

         (s) "including" or "includes" means "including, without limitation," or
"includes, without limitation", respectively.

         (t) "LaserSight" -- see the introductory paragraph.

         (u) "LSARs" -- see Section 2(a).

         (v) "Mature Shares" means shares of Stock for which the holder
thereof has good title, free and clear of all liens and encumbrances, and which
such holder either (i) has held for at least six months or (ii) has purchased on
the open market.

         (w) "Minimum Consideration" means $.001 per share of Stock or
such other amount that is from time to time considered to be capital for
purposes of Section 154 of the Delaware General Corporation Law.

         (x) "1934 Act" means the Securities Exchange Act of 1934.
References to a particular section of, or rule under, the 1934 Act include
references to successor provisions.

         (y) "Option Price" means the per share exercise price of an option.

         (z) "Performance Percentage" -- see Section 6(f)(i)(C).

         (aa) "Performance Period" -- see Section 6(f)(i)(B).

         (ab) "Plan" -- see the introductory paragraph.

         (ac) "Restricted Shares" means shares of Stock that are that are
nontransferable and subject to forfeiture if the Grantee does not satisfy the
conditions specified in the Award Agreement applicable to such shares. Such
shares shall cease to be Restricted Shares to the extent that such conditions
are satisfied.

         (ad) "Retirement" means a termination of employment with the
Company other than for Cause at any time after attaining age 65.

         (ae) "Rule 16b-3" means SEC Rule 16b-3 under the 1934 Act, as such Rule
may be amended from time to time.

         (af) "SEC" means the Securities and Exchange Commission.

         (ag) "Section 16 Person" means a person who is subject to
potential liability under Section 16(b)of the 1934 Act with respect to
transactions in equity securities of LaserSight.
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         (ah) "Stock" means the common stock, $.001 par value, of LaserSight.

         (ai) "Strike Price" -- see Section 6(d)(ii).

         (aj) "Subsidiary" means, for purposes of grants of incentive
stock options, a corporation as defined in Section 424(f) of the Code (with
LaserSight being treated as the employer corporation for purposes of this
definition) and, for all other purposes, a United States or foreign corporation
with respect to which LaserSight owns, directly or indirectly, 50% or more of
the then-outstanding common stock.

         (ak) "10% Owner" means a person who owns capital stock (including
stock treated as owned under Section 424(d) of the Code) possessing more than
10% of the total combined voting power of all classes of capital stock of
LaserSight or any Subsidiary.

         (al) "Term" means the period beginning on the Grant Date of an
option or SAR and ending on the expiration date of such option or SAR, as
specified in the applicable Award Agreement and as may, in the discretion of the
Committee and consistently with the provisions of the Plan, be extended at any
time or from time to time prior to the expiration date of such option or SAR
then in effect.

         3. Scope of the Plan. The aggregate number of shares of Stock
available under the Plan for grants of Awards (including shares of Stock
underlying SARs) is 5,250,000 shares; provided that no more than 750,000 shares
of Stock in the aggregate are available for the grant of Restricted Shares and
Bonus Shares under the Plan. Shares of Stock awarded under the Plan may be
treasury shares or newly-issued shares. If and to the extent an Award expires or
terminates for any reason without having been exercised in full (including a
cancellation and regrant of an option), or shall be forfeited, the shares of
Stock or number of SARs associated with such Award shall again become available
for other Awards.

         4. Administration.

         (a) Subject to Section 4(b), the Plan shall be administered by a
committee ("Committee") consisting of not less than two directors of LaserSight
who qualify as "outside directors" for purposes of the regulations under Code
Section 162(m) and satisfy the conditions of Rule 16b-3. Membership on the
Committee shall from time to time be increased or decreased and shall be subject
to such conditions, in each case as the Board deems appropriate to permit
transactions in Stock pursuant to the Plan to satisfy such conditions of Rule
16b-3 and Code Section 162(m).

         (b) The Board may reserve to itself or delegate to another
committee of the Board any or all of the authority of the Committee with respect
to Awards to Grantees who are not Section 16 Persons at the time any such
delegated authority is exercised. Such other committee may consist of two or
more directors who may, but need not be, officers or employees of the Company.
To the extent that the Board has reserved to itself or delegated to such other
committee the authority of the Committee, all references to the Committee in the
Plan shall be to the Board or such other committee.
<PAGE>

         (c) Subject to the express provisions of the Plan, the Committee has
full and final authority and discretion as follows:

                  (i) to determine the terms and conditions applicable to each
         Award, and whether or not specific Awards shall be identified with
         other specific Awards, and if so whether they shall be exercisable
         cumulatively with, or alternatively to, such other specific Awards;

                  (ii) to interpret the Plan and to make, amend and rescind all
         rules and determinations necessary or advisable for the administration
         of the Plan, including rules with respect to the treatment of Awards
         upon the termination of employment of a Grantee;

                  (iii) to determine the provisions of all Award Agreements
         (which need not be identical) and, with the consent of the Grantee, to
         amend any such Award Agreement at any time; provided that the consent
         of the Grantee shall not be required for any amendment which (A) does
         not adversely affect the rights of the Grantee, or (B) is necessary or
         advisable (as determined by the Committee) to carry out the purpose of
         the Award as a result of any new or change in existing applicable law;

                  (iv) to accelerate the exercisability (including
         exercisability within a period of less than one year after the Grant
         Date) of, and to accelerate or waive any or all of the terms and
         conditions applicable to, any Award or any group of Awards for any
         reason and at any time, including in connection with a termination of
         employment (other than for Cause);

                  (v) subject to Section 6(a)(ii) and 6(c)(ii), to extend the
         time during which any Award or group of Awards may be exercised; and

                  (vi) to make such adjustments or modifications to Awards to
         Grantees working outside the United States as are advisable to fulfill
         the purposes of the Plan.

         The determination of the Committee on all matters relating to the Plan
or any Award or Award Agreement shall be final. No member of the Committee shall
be liable for any action or determination made in good faith with respect to the
Plan or any Award.

         5. Eligibility. The Committee may in its discretion grant Awards to any
Eligible Employee, whether or not he or she has previously received an Award.

         6. Conditions to Grants.

         (a) General Conditions.
<PAGE>

                  (i) The Grant Date of an Award shall be the date on which the
         Committee grants the Award or such later date as specified in advance
         by the Committee.

                  (ii) Any  provision  of the  Plan to the  contrary
         notwithstanding, the Term of an Award shall under no circumstances
         extend more than 10 years after the Grant Date of such Award, and shall
         be subject to earlier termination as herein provided.

                  (iii) To the  extent  not set forth in the Plan, the terms and
         conditions of each Award shall be set forth in an Award Agreement.

         (b) Grant of Options.

                  (i)  No later than the Grant Date of any option, the Committee
         shall determine the Option Price of such option. The Option Price of an
         option shall not be less than 100% of the Fair Market Value of the
         Stock on the Grant Date. An option shall be exercisable for Stock
         unless the Award Agreement provides that it is exercisable for
         Restricted Shares.

                  (ii) The Committee may, in its discretion, permit an employee
         to elect, before earning compensation, to be granted an Award in lieu
         of receiving such compensation; provided that, in the judgment of the
         Committee, the value of such Award on the Grant Date equals the amount
         of compensation foregone by such employee.

                  (iii) The number of shares for which options may be granted to
         any Grantee in any calendar year shall not exceed 750,000.

         (c) Grant of Incentive Stock Options. At the time of the grant of any
option, the Committee may in its discretion designate that such option shall be
made subject to additional restrictions to permit it to qualify as an "incentive
stock option" under the requirements of Section 422 of the Code. Any option
designated as an incentive stock option:

                  (i) shall, if granted to a 10% Owner, have an Option Price not
         less than 110% of the Fair Market Value of the Stock on the Grant Date;

                  (ii) shall be for a period of not more than 10 years (five
         years if the Grantee is a 10% Owner) from the Grant Date, and shall be
         subject to earlier termination as provided herein or in the applicable
         Award Agreement;

                  (iii) shall not have an aggregate Fair Market Value
         (determined for each incentive stock option at its Grant Date) of Stock
         with respect to which incentive stock options are exercisable for the
         first time by such Grantee during any calendar year (under the Plan and
         any other employee stock option plan of the Grantee's employer or any
         parent or Subsidiary thereof ("Other Plans")), determined in accordance
         with the provisions of Section 422 of the Code, which exceeds $100,000
         (the "$100,000 Limit");
<PAGE>

                  (iv) shall, if the aggregate Fair Market Value of Stock
         (determined on the Grant Date) with respect to the portion of such
         grant which is exercisable for the first time during any calendar year
         ("Current Grant") and all incentive stock options previously granted
         under the Plan and any Other Plans which are exercisable for the first
         time during a calendar year ("Prior Grants") would exceed the $100,000
         Limit, be exercisable as follows:

                           (A) the portion of the Current Grant which would,
         when added to any Prior Grants, be exercisable with respect to Stock
         which would have an aggregate Fair Market Value (determined as of the
         respective Grant Date for such options) in excess of the $100,000 Limit
         shall, notwithstanding the terms of the Current Grant, be exercisable
         for the first time by the Grantee in the first subsequent calendar year
         or years in which it could be exercisable for the first time by the
         Grantee when added to all Prior Grants without exceeding the $100,000
         Limit; and

                           (B) if, viewed as of the date of the Current Grant,
         any portion of a Current Grant could not be exercised under the
         preceding provisions of this Section during any calendar year
         commencing with the calendar year in which it is first exercisable
         through and including the last calendar year in which it may by its
         terms be exercised, such portion of the Current Grant shall not be an
         incentive stock option, but shall be exercisable as a separate option
         at such date or dates as are provided in the Current Grant;

                  (v) shall be granted within 10 years from the earlier of the
         date the Plan is adopted or the date the Plan is approved by the
         stockholders of LaserSight;

                  (vi) shall require the Grantee to notify the Committee of any
         disposition of any Stock delivered pursuant to the exercise of the
         incentive stock option under the circumstances described in Code
         Section 421(b) (relating to certain disqualifying dispositions) (any
         such circumstance, a "Disqualifying Disposition"), within10 days of
         such Disqualifying Disposition; and

                  (vii) shall by its terms not be assignable or transferable
         other than by will or the laws of descent and distribution and may be
         exercised, during the Grantee's lifetime, only by the Grantee;
         provided, however, that the Grantee may, to the extent provided in the
         Plan in any manner specified by the Committee, designate in writing a
         beneficiary to exercise his or her incentive stock option after the
         Grantee's death;

         Notwithstanding the foregoing and Section 4(c)(iii), the Committee may,
without the consent of the Grantee, at any time before the exercise of an option
(whether or not an incentive stock option), take any action necessary to prevent
such option from being treated as an incentive stock option.

         (d) Grant of Stock Appreciation Rights.
<PAGE>

                  (i) When granted, SARs may, but need not, be identified with a
         specific option, specific Restricted Shares, or specific performance
         shares of the Grantee (whether granted on or before the Grant Date of
         the SARs) in a number equal to or different from the number of such
         SARs. If SARs are identified with an option, Restricted Shares, or
         performance shares, then, unless otherwise provided in the applicable
         Award Agreement, the Grantee's associated SARs shall terminate upon (x)
         the expiration, termination, forfeiture or cancellation of such option,
         Restricted Shares, or performance shares, (y) the exercise of such
         option or performance shares or (z) such Restricted Shares becoming
         nonforfeitable.

                  (ii) The Strike Price of any SAR shall equal, for any SAR that
         is identified with an option, the Option Price of such option, or for
         any other SAR, 100% of the Fair Market Value of the Stock on the Grant
         Date of such SAR; provided that the Committee may (x) specify a higher
         Strike Price in the Award Agreement, or (y) provide that the benefit
         payable upon exercise of any SAR shall not exceed such percentage of
         the Fair Market Value of a share of Stock on such Grant Date as the
         Committee shall specify.

         (e) Grant of LSARs. LSARs may in the discretion of the Committee
be granted to each Grantee upon the grant of any option or SAR under the Plan,
except as otherwise provided by the Committee in such grant. Each LSAR shall be
identified with a share of Stock subject to an option or a SAR of the Grantee.
The number of LSARs granted to a Grantee in respect of an option or SAR shall
equal the number of shares of Stock subject to such option or SAR. The Committee
may also grant an LSAR with respect to any share of Stock subject to an option
or SAR previously granted under this Plan or any other employee benefit plan of
the Company. Upon the exercise, expiration, termination, forfeiture, or
cancellation of a Grantee's option or SARs, as the case may be, the Grantee's
associated LSARs shall automatically terminate.

         (f) Grant of Performance Shares.

                  (i) Before the grant of any performance share, the Committee
         shall:

                           (A) determine objective  performance goals (which may
         consist of any one or more of the following: the attainment by a share
         of Stock of a specified Fair Market Value for a specified period of
         time, earnings per share, return to stockholders (including dividends),
         return on equity, earnings of the Company, growth in revenues, market
         share, cash flow or cost reduction goals, or any combination of the
         foregoing) and the amount of compensation under the goals applicable to
         such grant;

                           (B) designate a period, of not less than one year nor
         more than seven years, for the measurement of the extent to which
         performance goals are attained, which period may begin prior to the
         Grant Date (the "Performance Period"); and
<PAGE>

                           (C) assign a "Performance Percentage" to each level
         of attainment of performance goals during the Performance Period, with
         the percentage applicable to minimum attainment being zero percent (0%)
         and the percentage applicable to maximum attainment to be determined by
         the Committee from time to time, but not in excess of 150%.

                  (ii) If a Grantee is promoted, demoted or transferred to a
         different business unit of the Company during a Performance Period,
         then, to the extent the Committee determines the performance goals or
         Performance Period are no longer appropriate, the Committee may adjust,
         change or eliminate the performance goals or the applicable Performance
         Period as it deems appropriate in order to make them appropriate and
         comparable to the initial performance goals or Performance Period.

                  (iii) When granted, performance shares may, but need not, be
         identified with shares of Stock subject to a specific option, specific
         Restricted Shares or specific SARs of the Grantee granted under the
         Plan in a number equal to or different from the number of the
         performance shares so granted. If performance shares are so identified,
         then, unless otherwise provided in the applicable Award Agreement, the
         Grantee's associated performance shares shall terminate upon (A) the
         expiration, termination, forfeiture or cancellation of the option,
         Restricted Shares or SARs with which the performance shares are
         identified, (B) the exercise of such option or SARs or (C) the date
         Restricted Shares become nonforfeitable.

                  (iv) The shares of Stock related to the performance shares
         awarded to any Grantee for any Performance Period shall not have a Fair
         Market Value in excess of 100% of the Grantee's base annual salary in
         effect at the time of the grant of the Award multiplied by the number
         of years in the Performance Period.

         (g) Grant of Restricted Shares.

                  (i) The Committee shall in its discretion determine the
         amount, if any, that a Grantee shall pay for Restricted Shares, subject
         to the following sentence. Except with respect to Restricted Shares
         that are treasury shares (for which no payment need be required), the
         Committee shall require the Grantee to pay at least the Minimum
         Consideration for each Restricted Share. Such payment shall be made in
         full by the Grantee before the delivery of the shares and in any event
         no later than 10 days after the Grant Date for such shares.

                  (ii) The Committee shall provide in each Award Agreement
         relating to an Award of Restricted Shares (including Restricted Shares
         acquired upon exercise of an option) that such Restricted Shares shall
         be forfeited:

                           (A) upon the Grantee's termination of employment
         (other than under circumstances that may be specified in the Award
         Agreement) within a specified time period after the Grant Date,
<PAGE>

                           (B) if, during Grantee's employment with the Company
         and within a time period specified in the Award Agreement, the Company
         or the Grantee does not achieve the performance goals specified in the
         Award Agreement, or

                           (C) upon failure to satisfy such other conditions as
         the Committee may specify in the Award Agreement.

Unless otherwise expressly provided in an Award Agreement, the Committee may in
its discretion waive any or all of the foregoing provisions in accordance with
Section 4(c)(iv).

                  (iii) If Restricted Shares are forfeited, then the Grantee
         shall be deemed to have resold such Restricted Shares to LaserSight at
         a price equal to the lesser of (x) the amount, if any, paid by the
         Grantee for such Restricted Shares, or (y) the Fair Market Value of a
         share of Stock on the date of such forfeiture. LaserSight shall pay to
         the Grantee the required amount, if any, as soon as is administratively
         practical. Such Restricted Shares shall cease to be outstanding, and
         shall no longer confer on the Grantee thereof any rights as a
         stockholder of LaserSight, from and after the date the event causing
         the forfeiture, whether or not the Grantee accepts LaserSight's tender
         of payment for such Restricted Shares.

                  (iv) Certificates for any Restricted Shares shall bear an
         appropriate legend restricting the transfer of such Restricted Shares
         and, if the Committee in its discretion so determines, shall be held
         (together with a stock power executed in blank by the Grantee) in
         escrow by the Secretary of LaserSight until such Restricted Shares
         become nonforfeitable or are forfeited. If any Restricted Shares become
         nonforfeitable, LaserSight shall cause certificates for such shares to
         be issued without such legend.

         (h) Grant of Stock Bonuses. The Committee may grant Bonus Shares to any
Eligible Employee.

         7. Non-transferability. Each Award granted hereunder shall not
be assignable or transferable other than by will or the laws of descent and
distribution and may be exercised, during the Grantee's lifetime, only by the
Grantee or his or her guardian or legal representative, except that, subject to
Section 6(c)(vii) in respect of incentive stock options, a Grantee may in a
manner and to the extent permitted by the Committee (a) designate in writing a
beneficiary to exercise an Award after his or her death (provided, however, that
no such designation shall be effective unless received by the office of the
Company designated for that purpose prior to the Grantee's death) and (b) if the
Award Agreement expressly permits, transfer an Option (other than an incentive
stock option), SAR or LSAR for no consideration to any (i) member of the
Grantee's Immediate Family, (ii) trust solely for the benefit of members of the
Grantee or the Grantee's Immediate Family, (iii) partnership whose only partners
are the Grantee or members of the Grantee's Immediate Family, or (iv) revocable
inter vivos trust of which the Grantee is both the settlor and a trustee;

<PAGE>

provided, however, that the transferee shall agree to be subject to all of the
terms and conditions applicable to such Award prior to such transfer.

         8. Exercise.

         (a) Exercise of Options.

                  (i) Subject to Section 4(c)(iv) and except as otherwise
         provided in the applicable Award Agreement, each option shall become
         exercisable with respect to 25% of the shares of Stock subject thereto
         on each of the first four anniversaries of the Grant Date of such
         option.

                  (ii) An option shall be exercised by the delivery to the
         Company during the Term of such option of (x) written notice of intent
         to purchase a specific number of shares of Stock subject to the option
         and (y) payment in full of the Option Price of such specific number of
         shares of Stock.

                  (iii) Payment of the Option Price may be made by any one or
         more of the following means: personal check or wire transfer or through
         simultaneous sale of shares acquired on exercise of the option through
         a broker-dealer acceptable to the Company to whom the Grantee has
         submitted an irrevocable notice of exercise, as permitted under
         Regulation T of the Federal Reserve Board. In addition, with the prior
         approval of the Committee, the following may also be used in payment of
         the Option Price: Mature Shares or Restricted Shares held by the
         Grantee for at least six months prior to the exercise of the option,
         each such share valued at the Fair Market Value of a share of Stock on
         the date of exercise. The Committee may in its discretion specify that,
         if any Restricted Shares ("Tendered Restricted Shares") are used to pay
         the Option Price, (x) all the shares of Stock acquired on exercise of
         the option shall be subject to the same restrictions as the Tendered
         Restricted Shares, determined as of the date of exercise of the option,
         or (y) a number of shares of Stock acquired on exercise of the option
         equal to the number of Tendered Restricted Shares shall be subject to
         the same restrictions as the Tendered Restricted Shares, determined as
         of the date of exercise of the option.

         (b) Exercise of Stock Appreciation Rights.

                  (i) Subject to Sections 4(c)(iv) and 8(e), and except as
         otherwise provided in the applicable Award Agreement, (x) each SAR not
         identified with any other Award shall become exercisable with respect
         to 25% of the shares subject thereto on each of the first four
         anniversaries of the Grant Date of such SAR unless the Committee
         provides otherwise in the Award Agreement and (y) each SAR which is
         identified with any other Award shall become exercisable as and to
         extent that the option or Restricted Shares with which such SAR is
         identified may be exercised or becomes nonforfeitable, as the case may
         be.

                  (ii) SARs shall be exercised by delivery to the Company of
         written notice of intent to exercise a specific number of SARs. Unless

<PAGE>

         otherwise provided in the applicable Award Agreement, the exercise of
         SARs which are identified with shares of Stock subject to an option or
         Restricted Shares shall result in the cancellation or forfeiture of
         such option or Restricted Shares, as the case may be, to the extent of
         such exercise.

                  (iii) The benefit for each SAR exercised shall be equal to (x)
         the Fair Market Value of a share of Stock on the date of such exercise,
         minus (y) the Strike Price of such SAR. Such benefit shall be payable
         in cash, except that the Committee may provide in the Award Agreement
         that benefits may be paid wholly or partly in Stock.

         (c) Exercise of LSARs. Within 10 business days after the
exercise of any LSAR, the Company shall pay the Grantee, in cash, an amount
equal to the difference between (x) the Change of Control Value and (y) in the
case of an LSAR identified with an option, the Option Price of such option, or,
in the case of an LSAR identified with a SAR, the Strike Price of such SAR;
provided that the amount determined under this Section shall not exceed any
maximum benefit provided in the applicable Award Agreement.

         (d) Payment of Performance Shares. Unless otherwise provided in the
Award Agreement with respect to an Award of performance shares, if the minimum
performance goals applicable to such performance shares have been achieved
during the applicable Performance Period, then the Company shall pay to the
Grantee of such Award that number of shares of Stock equal to the product of:

                  (i) the sum of (x) number of performance shares specified in
         the applicable Award Agreement and (y) the number of shares of Stock
         that would have been issuable if such performance shares had been
         shares of Stock outstanding throughout the Performance Period and the
         stock dividends, cash dividends (except as otherwise provided in the
         Award Agreement), and other property paid in respect of such shares had
         been reinvested in additional shares of Stock as of each dividend
         payment date, multiplied by

                  (ii) the Performance Percentage achieved during such
         Performance Period.

The Committee may in its discretion determine that cash be paid in lieu of some
or all of such shares of Stock. with each such share to be valued at its Fair
Market Value on the business day next preceding the date on which such cash is
to be paid. Payments pursuant to this Section shall be made as soon as
administratively practical after the end of the applicable Performance Period.
Any performance shares with respect to which the performance goals shall not
have been achieved by the end of the applicable Performance Period shall expire.

         (e) Accelerated Vesting Upon Change of Control. In the event of a
Change of Control, all unvested Awards shall immediately become fully
exercisable or payable, as applicable, except as otherwise provided in Section
8(f); provided that the benefit payable with respect to any performance share
with respect to which the Performance Period has not ended as of the date of

<PAGE>

such Change of Control shall be equal to the product of the Unit Value
multiplied successively by each of the following:

                  (i) a fraction, the numerator of which is the number of whole
         and partial months that have elapsed between the beginning of such
         Performance Period and the date of such Change of Control and the
         denominator of which is the number of whole and partial months in the
         Performance Period; and

                  (ii) a percentage equal to the greater of (x) the target
         percentage, if any, specified in the applicable Award Agreement or (y)
         the maximum percentage, if any, that would be earned under the terms of
         the applicable Award Agreement assuming that the rate at which the
         performance goals have been achieved as of the date of such Change of
         Control would continue until the end of the Performance Period.

         (f) Pooling Considerations. Any provision of the Plan to the contrary
notwithstanding, if the Committee determines, in its discretion exercised prior
to a sale or merger of the Company that in the Committee's judgment is
reasonably likely to occur, that the exercise of SARs or LSARs would preclude
the use of pooling-of-interests accounting ("pooling") after the consummation of
such sale or merger and that such preclusion of pooling would have a material
adverse effect on such sale or merger, the Committee may either unilaterally
cancel such SARs and LSARs prior to the Change of Control or cause the Company
to pay the benefit attributable to such SARs or LSARs in the form of shares of
Stock if the Committee determines that such payment would not cause the
transaction to become ineligible for pooling.

         9. Notification under Section 83(b). If the Grantee, in connection with
the exercise of any option, or the grant of Restricted Shares, makes the
election permitted under Section 83(b) of the Code to include in such Grantee's
gross income in the year of transfer the amounts specified in Section 83(b) of
the Code, then such Grantee shall notify the Company of such election within 10
days of filing the notice of the election with the Internal Revenue Service, in
addition to any filing and notification required pursuant to regulations issued
under Section 83(b) of the Code. The Committee may, in connection with the grant
of an Award or at any time thereafter, prohibit a Grantee from making the
election described above.

         10. Mandatory Tax Withholding.

         (a) Whenever shares of Stock are to be delivered in connection with an
Award, the Company shall be entitled to require (i) that the Grantee remit an
amount sufficient to satisfy all federal, state, and local tax withholding
requirements related thereto ("Required Withholding"), (ii) the withholding of
such Required Withholding from compensation otherwise due to the Grantee or from
any shares of Stock or other payment due to the Grantee under the Plan or (iii)
any combination of the foregoing.

         (b) Any Grantee who makes a Disqualifying Disposition or an election is
made under Section 83(b) of the Code shall remit to the Company an amount

<PAGE>

sufficient to satisfy all resulting Required Withholding; provided that, in lieu
of or in addition to the foregoing, the Company shall have the right to withhold
such Required Withholding from compensation otherwise due to the Grantee or from
any shares of Stock or other payment due to the Grantee under the Plan.

         11. Elective Share Withholding.

         (a) With the Committee's prior approval and subject to the following
subsection, a Grantee may elect the withholding ("Share Withholding") by the
Company of a portion of the shares of Stock otherwise deliverable to such
Grantee in connection with an Award (a "Taxable Event") having a Fair Market
Value equal to (i) the minimum amount necessary to satisfy Required Withholding
liability attributable to the Taxable Event, or (ii) a greater amount, not to
exceed the estimated total amount of such Grantee's tax liability with respect
to the Taxable Event.

         (b) Each Share Withholding election shall be subject to the following
conditions: (i) any Grantee's election shall be subject to the Committee's
discretion to revoke the Grantee's right to elect Share Withholding at any time
before the Grantee's election if the Committee has reserved the right to do so
in the Award Agreement; and (ii) the Grantee's election must be made before the
date (the "Tax Date") on which the amount of tax to be withheld is determined;
(iii) the Grantee's election shall be irrevocable.

         12. Termination of Employment.

         (a) For Cause. If a Grantee's employment is terminated for Cause, (i)
the Grantee's Restricted Shares that are forfeitable shall thereupon be
forfeited; and (ii) any unexercised option, SAR, LSAR, or performance share
shall terminate effective immediately upon such termination of employment.

         (b) On Account of Death or Disability. Except as otherwise provided by
the Committee in the Award Agreement, if a Grantee's employment terminates on
account of death or Disability, then:

                  (i) the Grantee's Restricted Shares that were forfeitable
         shall thereupon become nonforfeitable;

                  (ii) any unexercised option or SAR, whether or not exercisable
         on the date of such termination of employment, may be exercised, in
         whole or in part, within six months after such termination of
         employment (but only during the Option Term) by the Grantee or, after
         his or her death, by (A) his or her personal representative or by the
         person to whom the option or SAR, as applicable, is transferred by will
         or the applicable laws of descent and distribution, (B) the Grantee's
         beneficiary designated in accordance with Sections 6(c)(vii) or 7, or
         (C) the then-acting trustee of the trust described in Section 7; and
<PAGE>

                  (iii) any unexercised performance share may be exercised in
         whole or in part, at any time within 180 days after such termination of
         employment on account of death or Disability by the Grantee or, after
         the Grantee's death, by (A) his personal representative or by the
         person to whom the performance share is transferred by will or the
         applicable laws of descent and distribution, (B) the Grantee's
         beneficiary designated in accordance with Section 7, or (C) the
         then-serving trustee of the trust described in Section 7; provided that
         the benefit payable with respect to any performance share with respect
         to which the Performance Period has not ended as of the date of such
         termination of employment on account of death or Disability shall be
         equal to the product of the Unit Value multiplied successively by each
         of the following:

                           (1) a fraction, the numerator of which is the number
         of months (including as a whole month any partial ___ month) that have
         elapsed since the beginning of such Performance Period until the date
         of such termination of employment and the denominator of which is the
         number of months (including as a whole month any partial month) in the
         Performance Period; and

                           (2) a percentage determined in the discretion of the
         Committee that would be earned under the terms of the applicable Award
         Agreement assuming that the rate at which the performance goals have
         been achieved as of the date of such termination of employment would
         continue until the end of the Performance Period, or, if the Committee
         elects to compute the benefit after the end of the Performance Period,
         the Performance Percentage, as determined by the Committee, attained
         during the Performance Period for the performance share.

         (c) On Account of Retirement. Except as otherwise provided by the
Committee in the Award Agreement, if a Grantee has a termination of employment
on account of Retirement, any unexercised option, whether or not exercisable on
the date of such termination of employment, may be exercised, in whole or in
part, at any time within one year after such Retirement (but only during the
Option Term).

         (d) Any Other Reason. Except as otherwise provided by the Committee in
the Award Agreement, if a Grantee's employment terminates for any reason other
than for Cause, Retirement, death, or Disability, then:

                  (i) the Grantee's Restricted Shares (and any SARs identified
         therewith), to the extent forfeitable on the date of the Grantee's
         termination of employment), shall be forfeited on such date;

                  (ii) any unexercised option or SAR (other than a SAR
         identified with a Restricted Share or performance share), to the extent
         exercisable immediately before the Grantee's termination of employment,
         Grantee's termination of employment) may be exercised in whole or in
         part, not later than the 30th day after such termination of employment
         (but only during the Option Term); and
<PAGE>

                  (iii) the Grantee's performance shares (and any SARs
         identified therewith) shall become non-forfeitable and may be exercised
         in whole or in part, but only if and to the extent determined by the
         Committee.

         (e) Extended Exercisability. If the Grantee has entered into an
agreement with the Company not to sell any shares of Stock (or the capital stock
of a successor to the Company) for a specified period after the consummation of
a business combination between the Company and another corporation or entity
(the "Specified Period"), such option may be exercised in whole or in part until
the later of the end of the post-termination period specified in subparagraph
(b), (c) or (d) of this Section, as applicable, or 10 business days after the
end of the Specified Period.

         (f) Extension of Term. In the event of a termination of the Grantee's
employment other than for Cause, the term of any Award (whether or not
exercisable immediately before such termination) which would otherwise expire
after the Grantee's termination of employment but before the end of the period
following such termination of employment described in subparagraphs (b), (c),
and (d) of this Section may, in the Committee's discretion, be extended so as to
permit any unexercised portion thereof to be exercised at any time within such
period. The Committee may further extend the period of exercisability to permit
any unexercised portion thereof to be exercised within a specified period
provided by the Committee. In no event shall the Term of any Award be extended
beyond the 10th anniversary of such Award.

         13. Plans of Foreign Subsidiaries. The Committee may authorize any
foreign Subsidiary to adopt a plan for granting Awards ("Foreign Plan"). All
Awards granted under such Foreign Plan shall be treated as grants under the
Plan. Such Foreign Plans shall have such provisions as the Committee permits not
inconsistent with the provisions of the Plan. Awards granted under a Foreign
Equity Incentive Plans shall be governed by the terms of the Plan, except to the
extent that the provisions of the Foreign Plan are more restrictive than the
provisions of the Plan, in which case the Foreign Plan shall control.

         14. Substituted Awards. If the Committee cancels any Award (whether
granted under this Plan or any plan of any entity acquired by the Company) with
the consent of the applicable Grantee or other holder thereof, the Committee may
in its discretion substitute a new Award therefor upon such terms and conditions
consistent with the Plan as the Committee may determine; provided, that (a) the
Grant Date of the new Award shall be the date on which such new Award is
granted; and (b) the Option Price of any new option, and the Strike Price of any
new SAR, shall not be less than 100% (110% for an incentive stock option granted
to a 10% Owner) of the Fair Market Value of a share of Stock on the Grant Date
of the new Award.

         15. Securities Law Matters. If the Committee deems necessary to comply
with applicable securities law, the Committee may require a written investment
intent representation by the Grantee and may require that a restrictive legend
be affixed to certificates for shares of Stock. If, based upon the advice of
counsel to the Company, the Committee determines that the exercise or

<PAGE>

nonforfeitability of, or delivery of benefits pursuant to, any Award would
violate any applicable provision of (i) federal or state securities laws or (ii)
the listing requirements of any national securities exchange or national market
system on which are listed any of the Company's equity securities, then the
Committee may postpone any such exercise, nonforfeitability or delivery, as
applicable, but the Company shall use commercially reasonable efforts to cause
such exercise, nonforfeitability or delivery to comply with all such provisions
at the earliest practicable date.

         16. No Employment Rights. Neither the establishment of the Plan nor the
grant of any Award shall (a) give any Grantee the right to remain employed by
the Company or to any benefits not specifically provided by the Plan or (b)
modify the right of the Company to modify, amend, or terminate any employee
benefit plan.

         17. No Rights as a Stockholder. A Grantee shall not have any rights as
a stockholder of LaserSight with respect to the shares of Stock (other than
Restricted Shares) which may be deliverable upon exercise or payment of such
Award until such shares have been delivered to him. Restricted Shares, whether
held by a Grantee or in escrow by the Secretary of LaserSight, shall confer on
the Grantee all rights of a stockholder of LaserSight, except as otherwise
provided in the Plan. At the time of a grant of Restricted Shares, the Committee
may in its discretion require that cash dividends thereon be deferred (with or
without interest) or the reinvested in additional Restricted Shares. Stock
dividends and deferred or reinvested cash dividends issued with respect to
Restricted Shares shall be subject to the same restrictions and other terms as
apply to the Restricted Shares with respect to which such dividends are issued.

         18. Nature of Payments. Awards shall be special incentive payments to
the Grantee and shall not be taken into account in computing the amount of
salary or compensation of the Grantee for purposes of determining any pension,
retirement, death or other benefit under (a) any pension, retirement,
profit-sharing, bonus, insurance or other employee benefit plan of the Company
or (b) any agreement between the Company and the Grantee, except as such plan or
agreement shall otherwise expressly provide.

         19. Non-Uniform Determinations. The Committee's determinations under
the Plan need not be uniform and may be made selectively among persons who
receive, or are eligible to receive, Awards, whether or not such persons are
similarly situated. Without limiting the generality of the foregoing, the
Committee shall be entitled to enter into Award Agreements that are non-uniform
and selective as to (a) the identity of the Grantees, (b) the terms and
provisions of Awards, and (c) the treatment of terminations of employment.

         20. Adjustments. The Committee shall make equitable adjustment of (i)
the aggregate numbers of shares of Stock available under the Plan for Awards in
general and for the grant of incentive stock options, Restricted Shares and
Bonus Shares, (ii) the number of shares of Stock, SARs, or performance shares

<PAGE>

covered by an Award, and (iii) the Option Price of all outstanding options and
the Strike Price of all outstanding SARs, to reflect a stock dividend, stock
split, reverse stock split, share combination, recapitalization, merger,
consolidation, spin-off, split-off, reorganization, rights offering, liquidation
or similar event, of or by the Company.

         21. Amendments.

         (a) The Board may from time to time in its discretion amend the Plan
without the approval of the stockholders of LaserSight, except as such
stockholder approval may be required under the listing requirements of any
securities exchange or national market system on which are listed equity
securities of LaserSight.

         (b) Notwithstanding any provision in this Plan or any Award Agreement,
in the event of a Change in Control within the meaning of Section 2(f)(iii) in
connection with which the holders of Stock receive shares of common stock of the
surviving or successor corporation that are registered under Section 12 of the
1934 Act, there shall be substituted for each option and SAR outstanding on the
date of the consummation of corporate transaction relating to such Change of
Control, a new option or SAR, as the case may be, reflecting the number and
class of shares into which each outstanding share of Stock shall be converted
pursuant to such Change in Control and providing each Grantee with rights that
are substantially identical to those under this Plan in all material respects.
In the event of any such substitution, the purchase price per share in the case
of an option and the Strike Price in the case of an SAR shall be appropriately
adjusted by the Committee, such adjustments to be made in the case of
outstanding options and SARs without a change in the aggregate purchase price or
Strike Price.

         22. Termination of the Plan. The Plan shall terminate on the tenth
(10th) anniversary of the Effective Date or at such earlier time as the Board
may determine. No termination shall affect any Award then outstanding under the
Plan.

         23. No Illegal Transactions. The Plan and all Awards are subject to all
applicable laws and regulations. Notwithstanding any provision of the Plan or
any Award, Grantees shall not be entitled to exercise, or receive benefits
under, any Award, and the Company shall not be obligated to deliver any Stock or
other benefits to a Grantee, if such exercise or delivery would constitute a
violation by the Grantee or the Company of any applicable law or regulation.

         24. Controlling Law. The law of Delaware, except its law with respect
to choice of law, shall control all matters relating to the Plan.

         25. Severability. If any part of the Plan is declared to be unlawful or
invalid, such unlawfulness or invalidity shall not invalidate any other part of
the Plan. Any Section or part of a Section so declared to be unlawful or invalid
shall, if possible, be construed in a manner which gives effect to the terms of
such Section or part of a Section to the fullest extent possible while remaining
lawful and valid.Exhibit 10.52

                                 $10,000,000.00

                                 AMENDMENT NO. 1

                                       TO

                           LOAN AND SECURITY AGREEMENT

                      originally dated as of March 12, 2001

                                  by and among

                             LASERSIGHT INCORPORATED
                          LASERSIGHT TECHNOLOGIES, INC.
                         LASERSIGHT CENTERS INCORPORATED
                            LASERSIGHT PATENTS, INC.
                           PHOTOMED ACQUISITION, INC.
                                    MRF, INC.
                                L.S. EXPORT, LTD.
                                 LST LASER, S.A.
                             LASERSIGHT EUROPE GMBH

                            (collectively "Borrower")

                                       and

                         HELLER HEALTHCARE FINANCE, INC.

                                   ("Lender")

                    Amended effective as of February 15, 2002

                                       1
<PAGE>

                 AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT

     THIS AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT (this "Amendment") is
executed as of the ___ day of February, 2002 and made effective as of the 15th
day of February, 2002, by and among LASERSIGHT INCORPORATED, a Delaware
corporation, LASERSIGHT TECHNOLOGIES, INC., a Delaware corporation, LASERSIGHT
CENTERS INCORPORATED, a Delaware corporation, LASERSIGHT PATENTS, INC., a
Delaware corporation, PHOTOMED ACQUISITION, INC., a Delaware corporation, MRF,
INC., a Missouri corporation, L.S. EXPORT, LTD., a company formed under the laws
of the U.S. Virgin Islands, LST LASER, S.A., a company formed under the laws of
Costa Rica, and LASERSIGHT EUROPE GMBH, a company formed under the laws of
Germany (collectively, "Borrower"), and HELLER HEALTHCARE FINANCE, INC., a
Delaware corporation (the "Lender").

                                    RECITALS

     WHEREAS, pursuant to that certain Loan and Security Agreement dated March
12, 2001 by and among Borrower and Lender (as amended hereby and as it may be
further amended, modified or restated from time to time, collectively, the "Loan
Agreement"), the Lender agreed to make available to Borrower a revolving credit
loan (the "Loan"); and

     WHEREAS, Borrower has requested that Lender agree to modify certain
provisions of the Loan Agreement and Lender has agreed to make such
modifications provided, among other things, that the parties hereto execute and
deliver this Amendment and the other related documents referred to herein and
otherwise comply with the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the foregoing, the terms and conditions
set forth in this Amendment, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Lender and Borrower
hereby agree as follows:

     Section 1. Definitions. Unless otherwise defined herein, all capitalized
terms used herein without definition shall have the meanings assigned to such
terms in the Loan Agreement.

     Section 2. Confirmation of Representations and Warranties. Each entity
comprising Borrower hereby (a) confirms that all of the representations and
warranties set forth in Article IV of the Loan Agreement are true and correct
with respect to such entity, and (b) specifically represents and warrants to
Lender that it has good and marketable title to all of its respective
Collateral, free and clear of any lien or security interest in favor of any
other person or entity.

     Section 3. Amendments to Loan Agreement. As of the Effective Date (as
defined below), the Loan Agreement shall be modified as follows:

                                       2
<PAGE>

     (a) Section 6.22 of the Loan Agreement shall be deleted in its entirety and
replaced with the following: "Intentionally Deleted.".

     (b) The following new sections Section 7.18, 7.19 and 7.20 are hereby added
to the Loan Agreement:

        "Section 7.18. Net Worth. Borrower will not at any time allow its net
worth (as computed in accordance with GAAP) to fall below $10,000,000.00.

        Section 7.19. Tangible Net Worth. Borrower will not at any time allow
its "tangible net worth" (as defined below), to fall below $4,500,000. For
purposes hereof, "tangible net worth" means assets (excluding "intangible
assets" (as defined below)) less liabilities. For purposes hereof, "intangible
assets" means all intangible assets (computed in accordance with GAAP)
including, without limitation, goodwill, intellectual property, organizational
costs and acquired technology.

        Section 7.20. Net Revenue. Borrower will not at any time allow its net
revenue (determined in accordance with GAAP) to fall below: (i) $4,360,000 for
the quarter ended March 31, 2002, (ii) $7,167,000 for the quarter ended June 30,
2002, (iii) $9,646,000 for the quarter ended September 30, 2002 and (iv)
$12,615,000 for the quarter ended December 31, 2002."

     Section 4. Fees; Costs.

     (a) In consideration of Lender's agreement to enter into this Amendment,
Borrower hereby agrees to pay to Lender a fee equal to Sixty Thousand and No/100
Dollars ($60,000.00) (the "Fee"), which Fee shall (a) be deemed fully earned by
Lender as of the date of this Amendment, (b) be due and payable by Borrower
making installment payments each equal to Five Thousand and No/100 Dollars
($5,000), beginning on the date of this Amendment and continuing on a monthly
basis thereafter through and including the date that is eleven (11) months from
the date of this Amendment, and (c) constitute a portion of the Obligations
evidenced by the Note and secured by the Loan Agreement and other Loan
Documents. Borrower hereby authorizes Lender to deduct any one or more
installments of the Fee from the proceeds of the next Revolving Credit Loan made
by Lender under the Loan Agreement (as amended hereby).

     (b) Borrower shall be responsible for the payment of all costs and expenses
(including the reasonable fees and expenses of Lender's in-house counsel) of
Lender incurred in connection with the preparation of this Amendment and the
Amended and Restated Secured Term Note (as defined below).

                                       3
<PAGE>

     Section 5. Enforceability. This Amendment constitutes the legal, valid and
binding obligation of Borrower and is enforceable against Borrower in accordance
with its terms.

     Section 6. Effective Date. As set forth in the introductory paragraph of
this Amendment, this Amendment shall be effective as of February 15, 2002 (the
"Effective Date"), provided that Lender shall have received each of this
Amendment and that certain Amended and Restated Secured Term Note, in the form
substantially as provided by Lender to Borrower and duly executed by an
authorized officer of Borrower, by no later than February 28, 2002, and, that,
on the date of Lender's receipt of such documents as described above, the
following shall be true:

        (a) there shall have occurred and be continuing no Event of Default and
no event which, with the giving of notice or the lapse of time or both, could
constitute such an Event of Default and, after giving effect to this Amendment,
there shall have occurred no Event of Default and no Event which, with the
giving of notice or lapse of time or both, could constitute an Event of Default;
and

        (b) the representations and warranties set forth in Section 3 of this
Amendment and in Article IV of the Loan Agreement shall be true and correct as
of such date and after giving effect to this Amendment (unless any such
representation or warranty by its terms is intended to refer specifically to any
earlier date).

     Section 7. Reference to the Effect on the Loan Agreement.

        (a) On and after the Effective Date, each reference in the Loan
Agreement to "this Agreement," "hereunder," "hereof," "herein" or words of
similar import shall mean and be a reference to the Loan Agreement as amended by
this Amendment.

        (b) Except as specifically amended above, the Loan Agreement, and all
other Loan Documents, shall remain in full force and effect, and are hereby
ratified and confirmed.

        (c) The execution, delivery and effectiveness of this Amendment shall
not, except as expressly provided in this Amendment, operate as a waiver of any
right, power or remedy of Lender, nor constitute a waiver of any provision of
the Loan Agreement, or any other documents, instruments and agreements executed
or delivered in connection with the Loan Agreement.

     Section 8. Governing Law. This Amendment shall be governed by and construed
in accordance with the laws of the State of Maryland without regard to any
otherwise applicable conflicts of laws principles thereof.

                                       4
<PAGE>

     Section 9. Headings. Section headings in this Amendment are included for
convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

     Section 10. Counterparts. This Amendment may be executed in any number of
counterparts (and by facsimile), each of which counterparts shall be deemed an
original, but all of which shall constitute one and the same instrument.

                               [SIGNATURES FOLLOW]

                                       5
<PAGE>

         IN WITNESS WHEREOF, intending to be legally bound, and intending that
this Amendment No. 1 to Loan and Security Agreement constitutes and instrument
executed under seal, the parties have caused this Amendment No. 1 to Loan and
Security Agreement to be executed under seal as of the date first above written.

                                LENDER:

                                HELLER HEALTHCARE FINANCE, INC.,
                                a Delaware corporation

                                By:/s/ Joseph Prandoni             (SEAL)
                                   --------------------------------------
                                Name: Joseph Prandoni
                                Title: Vice President

                                BORROWER:

                                LASERSIGHT INCORPORATED,
                                a Delaware corporation

                                By:/s/ Gregory L. Wilson           (SEAL)
                                   --------------------------------------
                                Name: Gregory L. Wilson
                                Title: Secretary

                                LASERSIGHT TECHNOLOGIES, INC.,
                                a Delaware corporation

                                By:/s/ Gregory L. Wilson           (SEAL)
                                   --------------------------------------
                                Name: Gregory L. Wilson
                                Title: Secretary

                                LASERSIGHT CENTERS INCORPORATED,
                                a Delaware corporation

                                By:/s/ Gregory L. Wilson           (SEAL)
                                -----------------------------------------
                                Name: Gregory L. Wilson
                                Title: Treasurer

                       [SIGNATURES CONTINUED ON NEXT PAGE]

                                       6
<PAGE>

                                LASERSIGHT PATENTS, INC.,
                                a Delaware corporation

                                By:/s/ Gregory L. Wilson           (SEAL)
                                   --------------------------------------
                                Name: Gregory L. Wilson
                                Title: Secretary

                                PHOTOMED ACQUISITION, INC.,
                                a Delaware corporation

                                By:/s/ Gregory L. Wilson           (SEAL)
                                   --------------------------------------
                                Name: Gregory L. Wilson
                                Title: Secretary

                                MRF, INC., a Missouri corporation

                                By:/s/ Gregory L. Wilson           (SEAL)
                                   --------------------------------------
                                Name: Gregory L. Wilson
                                Title: Secretary

                                L.S. EXPORT, LTD., a company organized
                                under the laws of the U.S. Virgin Islands

                                By:/s/ Gregory L. Wilson           (SEAL)
                                   --------------------------------------
                                Name: Gregory L. Wilson
                                Title: Treasurer

                                LST LASER, S.A., a company organized
                                under the laws of Costa Rica

                                By:/s/ Gregory L. Wilson           (SEAL)
                                   --------------------------------------
                                Name: Gregory L. Wilson
                                Title: Treasurer

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                                       7
<PAGE>

                                LASERSIGHT EUROPE GMBH, a company
                                organized under the laws of Germany

                                By:/s/ Gregory L. Wilson           (SEAL)
                                   --------------------------------------
                                Name: Gregory L. Wilson
                                Title: Managing Director

                                       8

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