Document:

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                                                                   EXHIBIT 10.52

                            STOCK PLEDGE AGREEMENT
                            ----------------------

     This STOCK PLEDGE AGREEMENT (hereinafter "Agreement") is made and entered
into as of the 16th day of June, 1999, by and between Peter J. Utrata, M.D., an
individual ("Pledgor") and Staar Surgical Company, a Delaware corporation
("Pledgee") with reference to the following facts:

                                   RECITALS
                                   --------

     WHEREAS, Pledgor has executed in favor of Pledgee a promissory note (the
"Note"), a copy of which is attached hereto as Exhibit "1" and is incorporated
herein by this reference, for the sum of One Million Two Hundred Fifty-Eight
Thousand Dollars ($1,258,000); and

     WHEREAS, Pledgor desires to pledge to Pledgee the interest of Pledgor in
certain common stock, which is included on Exhibit "2", attached hereto and
incorporated herein by this reference, pursuant to the terms of this Agreement,
for the purpose of securing payment of the Note.

     THEREFORE, in consideration of mutual covenants and promises contained
herein, and for valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties to this Agreement (hereinafter collectively
"parties" and individually "party") agree as follows:

                                   AGREEMENT
                                   ---------

     1.   Pledge of Stock and Proceeds.
          ----------------------------

          (a)  Original Pledge.  As collateral security for the payment and/or
               ---------------
performance of all of Pledgor's presently existing or hereinafter arising
obligations and liabilities to Pledgee under the Note, Pledgor hereby pledges,
grants and assigns to Pledgee a continuing security interest in the following:

               (i)    One Hundred Twenty Thousand (120,000) shares of the Common
Stock of Staar Surgical Company (the "Stock"); and

               (ii)   the proceeds of the Stock including, without limitation,
any and all dividends, cash, instruments and other property from time-to-time
received, receivable, or otherwise distributed in respect of or in exchange for
any of the Stock ("Proceeds"). (The Stock and the Proceeds shall hereinafter be
collectively referred to as the "Collateral").

          (b)  Increase in Security.  If, for a period of fifteen (15)
               --------------------
consecutive days, the fair market value of the Stock falls below all sums due
under the Note, then Pledgor will be required to transfer to Pledgee, upon
receipt of Pledgee's written request, additional security, in any form
acceptable to Pledgee, in an amount equal to the difference between all sums due
under the Note and the fair market value of the Stock.

          (c)  Delivery of Stock Power to Pledgee.  Pledgor shall deliver to
               ----------------------------------
Pledgee, concurrently with the execution of this Agreement, the Stock along with
an Assignment of Corporate

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Shares in the form of Exhibit "3" attached hereto and incorporated herein by
this reference ("Stock Assignment"), signed by Pledgor, in blank, such Stock
Assignment to be used by Pledgee in accordance with the terms of this Agreement.

          (d)  Pledgee's Acceptance of Collateral and Appointment as Pledgor's
               ---------------------------------------------------------------
Attorney-In-Fact.  Pledgee hereby agrees to accept the Collateral and agrees to
----------------
hold and dispose of the Collateral in accordance with and subject only to the
terms of this Agreement.  Pledgor hereby irrevocably appoints Pledgee as
Pledgor's attorney-in-fact to arrange for the transfer of the Collateral and to
do and perform all actions that are necessary or appropriate in order to effect
the terms of this Agreement.

          (e)  Release of Collateral.  Pledgee shall release the Collateral from
               ---------------------
this Agreement and return the Collateral to Pledgor upon satisfaction in full of
Pledgor's obligations under the Note; provided, however, that, pursuant to
paragraph 4 of the Note if, for a period of thirty (30) consecutive days, the
fair market value of the Collateral equals or exceeds 150% of all sums unpaid
under the Note, Pledgor shall release to Plegee such portion of the Collateral
the value of which exceeds the amount of all sums unpaid under the Note.

     2.   Matters Pertaining to the Collateral.
          ------------------------------------

          (a)  Voting and Consensual Rights.  Pledgor shall retain the right to
               ----------------------------
vote the Stock and to exercise any other rights pertaining to the Stock,
provided, however, so long as Pledgor is in "Default" as defined in Paragraph 3
of this Agreement, Pledgee shall vote the Stock and exercise any rights
pertaining to the Stock.

          (b)  Rights to Dividends and Distributions.  So long as Pledgor is not
               -------------------------------------
in Default and except as expressly limited below, Pledgor shall be entitled to
receive and retain any proceeds distributed on account of the Stock.
Notwithstanding the foregoing, Pledgee, rather than Pledgor, shall be entitled
to collect and receive all of the following types of proceeds, which shall be
added to and shall become a part of the Collateral:

               (i)    all proceeds paid or payable other than in cash, and all
instruments and other property distributed in respect of, or in exchange for,
the Stock;

               (ii)   all proceeds paid or payable with respect to the Stock in
connection with a partial or total liquidation or dissolution of the issuing
corporation or in connection with a reduction of capital, capital surplus or
paid-in surplus of the issuing corporation; and

               (iii)  all proceeds distributed in redemption of, or in exchange
for, the Stock.

To the extent the foregoing proceeds exceed the amount of Pledgor's obligations
and liabilities under the Note and/or this Agreement, Pledgor shall be entitled
to receive these excess proceeds.

          In the event and for so long as Pledgor is in Default, Pledgee shall
be paid any proceeds with respect to the Stock; provided, however, Pledgee shall
apply such payments against the outstanding balance of the Note.

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          (c)  Stock Adjustments.  In the event that, during the term of this
               -----------------
Agreement, any stock dividend, reclassification, readjustment, or other change
is declared or made in the capital structure of the issuing corporation, all
new, substituted and additional shares or other securities issued with respect
to the Stock by reason of any such change shall be delivered to and held by
Pledgee under the terms of this Agreement in the same manner as the Stock.

     3.   Default and Remedy on Default.
          -----------------------------

          At the option of Pledgee, upon the happening of any of the following
events of default ("Default"), Pledgee shall have all of the rights and remedies
set forth therein:

          (a)  Default Under Note.  If an event of default, as set forth in
               ------------------
paragraph 9 of the Note, occurs and is not cured as specifically provided
therein; or

          (b)  Default Under This Agreement.  If Pledgor defaults in the due
               ----------------------------
performance or observance of any representation or obligation under this
Agreement.

     4.   Pledgor's Representations, Warranties and Covenants.
          ---------------------------------------------------

          Pledgor represents, warrants and covenants to Pledgee as follows:

          (a)  Upon delivery to Pledgee as contemplated hereby, the Collateral
will be free of any security interests, liens, pledges or encumbrances created
by Pledgor (except for the security interest created hereby), or any claims of
third parties of any nature whatsoever, charges, escrows, options, rights of
first refusal, or other agreements, restrictions, arrangements, commitments or
obligations, written or oral, created by Pledgor, affecting the legal or
beneficial ownership of the Collateral.

          (b)  From and after the date hereof, Pledgor shall not make any
agreements restricting in any manner the transferability of the Collateral or
otherwise affecting the Collateral;

          (c)  Pledgor shall, at Pledgor's expense, take any steps necessary to
preserve Pledgee's rights in the Collateral against any claims of third parties;
and

          (d)  Pledgor has arrangements for keeping informed of changes or
potential changes affecting the Collateral (including, without limitation,
rights to convert, rights to subscribe, payment of dividends, reorganization or
other exchanges, tender offers and voting rights), and Pledgee shall not have
any responsibility or liability for informing Pledgor of any such changes or
potential changes or for taking any action or omitting to take any action with
respect thereto.

     5.   Miscellaneous.
          --------------

          (a)  It is acknowledged by each party that such party either had
separate and independent advice of counsel or the opportunity to avail himself
or itself of same.  This Agreement was prepared by each party in conjunction
with counseling from such party's respective attorney or the opportunity to
obtain such counseling.  In light of these facts it is acknowledged that no
party shall be construed to be solely responsible for the drafting of this
Agreement, and therefore any ambiguity shall

                                       3
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not be construed against any party as the alleged draftsman of it.  Each party
shall pay all costs and expenses incurred or to be incurred by such party in
negotiating and preparing this Agreement and in performing and complying with
all representations, warranties, covenants, agreements and conditions contained
in this Agreement to be performed or complied with by such party, including
legal fees.

          (b)  Each party agrees, without further consideration, to cooperate
and diligently perform any further acts, deeds and things and to execute and
deliver any documents that may be reasonably necessary to consummate, evidence,
confirm and/or carry out the intent and provisions of this Agreement, all
without undue delay or expense.  Pledgor shall reimburse Pledgee for any costs
and expenses incurred by Pledgee in connection with any breach or default of
Pledgor under this Agreement, including collection efforts, whether or not suit
is commenced or judgement is entered.  Furthermore, should any party institute
or should the parties otherwise become a party to any action or proceeding to
enforce or interpret this Agreement, the prevailing party in any such action or
proceeding shall be entitled to receive from the non-prevailing party all costs
and expenses of prosecuting or defending the action or proceeding.  This
Agreement and the rights of each party under this Agreement shall be governed
by, interpreted under, and construed and enforced in accordance with the laws of
the State of Delaware.

          (c)  The parties expressly acknowledge and agree that this Agreement :
(i) is the final, complete and exclusive statement of the parties' agreement
with respect to the subject matter hereof, (ii) supersedes any prior or
contemporaneous promises, assurances, guarantees, representations,
understandings, conduct, proposals, conditions, commitments, acts, course of
dealing, warranties, interpretations or terms of any kind, oral or written
(collectively "Prior Agreements"), and that any such Prior Agreements are of no
force or effect except as expressly set forth herein, and (iii) may not be
varied, supplemented or contradicted by evidence of such Prior Agreements or by
evidence of subsequent oral agreements. Any agreement hereafter made shall be
ineffective to modify, supplement or discharge the terms of this Agreement, in
whole or in part, unless such agreement is in writing and signed by the party
against whom enforcement of the modification, supplement or discharge is sought.
By execution hereof, the parties specifically disavow any desire or intention to
create a "third party" beneficiary contract, and specifically declare that no
person or entity, save and except for the parties and their permitted
successors, and assigns, shall have any rights hereunder nor any right of
enforcement hereof. No waiver of any breach of any agreement or provision herein
contained shall be deemed a waiver of any preceding or succeeding breach
thereof. If any term or provision of this Agreement or the application thereof
to any person or circumstance shall, to any extent, be determined to be invalid,
illegal or unenforceable, then the remaining part of this Agreement shall
nevertheless not be affected thereby and shall continue in full force and effect
to the fullest extent provided by law. This Agreement is to be read, construed
and applied together with the Note, which, taken together, set forth the
complete understanding and agreement of the parties with respect to the matters
referred to herein and therein.

          (d)  Pledgor may not delegate its duties under this Agreement, in
whole or in part, without the prior written consent of Pledgee, which consent
may be withheld in Pledgee's sole and arbitrary discretion. Notwithstanding the
preceding sentence, no such delegation shall release Pledgor from any liability
or obligation under this Agreement without the written consent of Pledgee, which
consent may be withheld in Pledgee's sole and arbitrary discretion. Subject to
the foregoing, all of the representations, warranties, covenants, conditions and
provisions of this Agreement shall be binding

                                       4
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upon and shall inure to the benefit of each party and such party's respective
heirs, executors, administrators, legal representatives, successors and/or
assigns.

          (e)  The headings used in this Agreement are for convenience and
reference purposes only, and shall not be used in construing or interpreting the
scope or intent of this Agreement or any provision hereof. References to this
Agreement shall include all amendments or renewals thereof. As used in this
Agreement, each gender shall be deemed to include each other gender, including
neutral genders or genders appropriate for entities, if applicable, and the
singular shall be deemed to include the plural, and vice versa, as the context
requires.

          (f)  All notices, demands, requests, consents, approvals or other
communications ("Notices") given hereunder shall be as provided in the Note.

     WHEREFORE, the parties hereto have executed this Agreement as of the date
first set forth above.

                                       Pledgor:

                                       /s/ Peter J. Utrata, M.D.
                                       ------------------------------
                                       Peter J. Utrata, M.D.
                                       Address: 1289 Arlington Avenue
                                                Columbus, Ohio 43212

                                       Pledgee:

                                       STAAR SURGICAL COMPANY
                                       1911 Walker Avenue
                                       Monrovia, California 91016

                                       By:_________________________

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                                  EXHIBIT "1"
                                  -----------

                                PROMISSORY NOTE
                                ---------------

                                       6
<PAGE>

                                  EXHIBIT "2"
                                  -----------

                                LIST OF SHARES
                                --------------

120,000 shares of the common stock of STAAR Surgical Company represented by
certificate number SS 9723-85-9724.
                      ------------

                                       7
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                                  EXHIBIT "3"
                                  -----------

                        ASSIGNMENT OF CORPORATE SHARES

                             (Without Certificate)

     FOR VALUE RECEIVED, the undersigned hereby assigns to Staar Surgical
Company, a Delaware corporation, as Pledgee under that certain Stock Pledge
Agreement entered into on June 16, 1999 by and between Peter J. Utrata, M.D. and
Staar Surgical Company, one hundred twenty thousand (120,000) shares of the
common stock of Staar Surgical Company, represented by certificate number(s)
____________________ standing in the undersigned's name on the books of said
corporation, and does hereby instruct and appoint the custodian of that
corporation's stock books to so transfer the said stock on the books of said
corporation.

Dated:  _____________________

                                       ______________________________
                                       EXHIBIT ONLY--DO NOT SIGN
                                       -------------------------

WITNESS:

__________________________________

                                       8<PAGE>

                                                                   EXHIBIT 10.53

WELLS FARGO BANK                                   REVOLVING LINE OF CREDIT NOTE
--------------------------------------------------------------------------------

$10,000,000.00                                           West Covina, California
                                                                    July 1, 1999

     FOR VALUE RECEIVED, the undersigned Staar Surgical Company ("Borrower")
promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION ('Bank")
at its office at San Gabriel Valley RCBO, 1000 Lakes Drive, Suite 250, West
Covina, CA 91790, or at such other place as the holder hereof may designate, in
lawful money of the United States of America and in immediately available funds,
the principal sum of $10,000.000.00, or so much thereof as may be advanced and
be outstanding, with interest thereon, to be computed on each advance from the
date of its disbursement as set forth herein.

DEFINITIONS:

     As used herein, the following terms shall have the meanings set forth after
each, and any other term defined in this Note shall have the meaning set forth
at the place defined:

     (a)  "Business Day" means any day except a Saturday, Sunday or any other
day on which commercial banks in California are authorized or required by law to
close.

     (b)  "Fixed Rate Term" means a period commencing on a Business Day and
continuing for 1, 2, 3 or 6 months, as designated by Borrower, during which all
or a portion of the outstanding principal balance of this Note bears interest
determined in relation to LIBOR; provided however, that no Fixed Rate Term may
be selected for a principal amount less than $500,000.00; and provided further,
that no Fixed Rate Term shall extend beyond the scheduled maturity date hereof.
If any Fixed Rate Term would end on a day which is not a Business Day, then such
Fixed Rate Term shall be extended to the next succeeding Business Day.

     (c)  "LIBOR" means the rate per annum (rounded upward, if necessary, to the
nearest whole 1/8 of 1%) determined by dividing Base LIBOR by a percentage equal
to 100% less any LIBOR Reserve Percentage.

          (i)     "Base LIBOR" means the rate per annum for United States dollar
deposits quoted by Bank as the Inter-Bank Market Offered Rate, with the
understanding that such rate is quoted by Bank for the purpose of calculating
effective rates of interest for loans making reference thereto, on the first day
of a Fixed Rate Term for delivery of funds on said date for a period of time
approximately equal to the number of days in such Fixed Rate Term and in an
amount approximately equal to the principal amount to which such Fixed Rate Term
applies. Borrower understands and agrees that Bank may base its quotation of the
Inter-Bank Market Offered Rate upon such offers or other market indicators of
the Inter-Bank Market as Bank in its discretion deems appropriate including, but
not limited to, the rate offered for U.S. dollar deposits on the London Inter-
Bank Market.

          (ii)    "LIBOR Reserve Percentage" means the reserve percentage
prescribed by the Board of Governors of the Federal Reserve System (or any
successor) for "Eurocurrency Liabilities" (as defined in Regulation D of the
Federal Reserve Board, as amended), adjusted by Bank for expected changes in
such reserve percentage during the applicable Fixed Rate Term.

     (d)  "Prime Rate" means at any time the rate of interest most recently
announced within Bank at its principal office as its Prime Rate, with the
understanding that the Prime Rate is one of Bank's base rates and serves as the
basis upon which effective rates of interest are calculated for those loans
making reference thereto, and is evidenced by the recording thereof after its
announcement in such internal publication or publications as Bank may designate.

INTEREST:

     (a) Interest. The outstanding principal balance of this Note shall bear
         --------
interest (computed on the basis of a 360-day year, actual days elapsed) either
(i) at a fluctuating rate per annum .50000% below the Prime Rate in effect from
time to time, or (ii) at a fixed rate per annum determined by Bank to be
1.50000% above LIBOR in effect on the first day of the applicable Fixed Rate
Term. When interest is determined in relation to the Prime Rate, each change in
the rate of interest hereunder shall become effective on the date each Prime
Rate change is announced within Bank. With respect to each LIBOR selection
option selected hereunder, Bank is hereby authorized to note the date, principal
amount, interest rate and Fixed Rate Term applicable thereto and any payments
made thereon on Bank's books and records (either manually or by electronic
entry) and/or on any schedule attached to this Note, which notations shall be
prima facie evidence of the accuracy of the information noted.

     (b)  Selection of Interest Rate Options. At any time any portion of this
          ----------------------------------
Note bears interest determined in relation to LIBOR, it may be continued by
Borrower at the end of the Fixed Rate Term applicable thereto so that all or a
portion thereof bears interest determined in relation to the Prime Rate or to
LIBOR for a new Fixed Rate Term designated by Borrower. At any time any portion
of this Note bears interest determined in relation to the Prime Rate, Borrower
may convert all or a portion thereof so that it bears interest determined in
relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as
Borrower requests an advance hereunder or wishes to select a LIBOR option for
all or a portion of the outstanding principal balance hereof,

                                                                          Page 1
<PAGE>

and at the end of each Fixed Rate Term, Borrower shall give Bank notice
specifying: (i) the interest rate option selected by Borrower; (ii) the
principal amount subject thereto; and (iii) for each LIBOR selection, the length
of the applicable Fixed Rate Term. Any such notice may be given by telephone so
long as, with respect to each LIBOR selection, (A) Bank receives written
confirmation from Borrower not later than 3 Business Days after such telephone
notice is given, and (B) such notice is given to Bank prior to 10:00 a.m.,
California time, on the first day of the Fixed Rate Term. For each LIBOR option
requested hereunder, Bank will quote the applicable fixed rate to Borrower at
approximately 10:00 a.m., California time, on the first day of the Fixed Rate
Term. If Borrower does not immediately accept the rate quoted by Bank, any
subsequent acceptance by Borrower shall be subject to a redetermination by Bank
of the applicable fixed rate; provided however, that if Borrower fails to accept
any such rate by 11:00 a.m., California time, on the Business Day such quotation
is given, then the quoted rate shall expire and Bank shall have no obligation to
permit a LIBOR option to be selected on such day. If no specific designation of
interest is made at the time any advance is requested hereunder or at the end of
any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate interest
selection for such advance or the principal amount to which such Fixed Rate Term
applied.

     (c)  Additional LIBOR Provisions.
          ---------------------------

          (i)     If Bank at any time shall determine that for any reason
adequate and reasonable means do not exist for ascertaining LIBOR, then Bank
shall promptly give notice thereof to Borrower. If such notice is given and
until such notice has been withdrawn by Bank, then (A) no new LIBOR option may
be selected by Borrower, and (B) any portion of the outstanding principal
balance hereof which bears interest determined in relation to LIBOR, subsequent
to the end of the Fixed Rate Term applicable thereto, shall bear interest
determined in relation to the Prime Rate.

          (ii)    If any law, treaty, rule, regulation or determination of a
court or governmental authority or any change therein or in the interpretation
or application thereof (each, a "Change in Law") shall make it unlawful for Bank
(A) to make LIBOR options available hereunder, or (B) to maintain interest rates
based on LIBOR, then in the former evant, any obligation of Bank to make
available such unlawful LIBOR options shall immediately be cancelled, and in the
latter event, any such unlawful LIBOR-based interest rates then outstanding
shall be converted, at Bank's option, so that interest on the portion of the
outstanding principal balance subject thereto is determined in relation to the
Prime Rate; provided however, that if any such Change in Law shall permit any
LIBOR-based interest rates to remain in effect until the expiration of the Fixed
Rate Term applicable thereto, then such permitted LIBOR-based interest rates
shall continue in effect until the expiration of such Fixed Rate Term. Upon the
occurrence of any of the foregoing events, Borrower shall pay to Bank
immediately upon demand such amounts as may be necessary to compensate Bank for
any fines, fees, charges, penalties or other costs incurred or payable by Bank
as a result thereof and which are attributable to any LIBOR options made
available to Borrower hereunder, and any reasonable allocation made by Bank
among its operations shall be conclusive and binding upon Borrower.

          (iii)   If any Change in Law or compliance by Bank with any request or
directive (whether or not having the force of law) from any central bank or
other governmental authority shall:

          (A)     subject Bank to any tax, duty or other charge with respect to
                  any LIBOR options, or change the basis of taxation of payments
                  to Bank of principal, interest, fees or any other amount
                  payable hereunder (except for changes in the rate of tax on
                  the overall net income of Bank); or

          (B)     impose, modify or hold applicable any reserve, special
                  deposit, compulsory loan or similar requirement against assets
                  held by, deposits or other liabilities in or for the account
                  of, advances or loans by, or any other acquisition of funds by
                  any office of Bank; or

          (C)     impose on Bank any other condition;

and the result of any of the foregoing is to increase the cost to Bank of
making, renewing or maintaining any LIBOR options hereunder and/or to reduce any
amount receivable by Bank in connection therewith, then in any such case,
Borrower shall pay to Bank immediately upon demand such amounts as may be
necessary to compensate Bank for any additional costs incurred by Bank and/or
reductions in amounts received by Bank which are attributable to such LIBOR
options. In determining which costs incurred by Bank and/or reductions in
amounts received by Bank are attributable to any LIBOR options made available to
Borrower hereunder, any reasonable allocation made by Bank among its operations
shall be conclusive and binding upon Borrower.

     (d)  Payment of Interest. Interest accrued on this Note shall be payable on
          -------------------
the 1st day of each month, commencing August 1, 1999.

BORROWING AND REPAYMENT:

     (a)  Borrowing and Repayment. Borrower may from time to time during the
          -----------------------
term of this Note borrow, partially or wholly repay its outstanding borrowings,
and reborrow, subject to all of the limitations, terms and conditions of this
Note and of any document executed in connection with or governing this Note;
provided however, that the total outstanding borrowings under this Note shall
not at any time exceed the principal amount stated above. The unpaid principal
balance of this obligation at any time shall be the total amounts advanced
hereunder by the holder hereof less the amount of principal payments made hereon
by or for any Borrower, which balance may be endorsed hereon from time to time
by the holder. The outstanding principal balance of this Note shall be due and
payable in full on June 1, 2002.

                                                                          Page 2
<PAGE>

     (b)  Advances. Advances hereunder, to the total amount of the principal sum
          --------
available hereunder, may be made by the holder at the oral or written request of
(i) William C. Huddleston or John R. Wolf or John Santos or Deborah Andrews, any
one acting alone, who are authorized to request advances and direct the
disposition of any advances until written notice of the revocation of such
authority is received by the holder at the office designated above, or (ii) any
person, with respect to advances deposited to the credit of any account of any
Borrower with the holder, which advances, when so deposited, shall be
conclusively presumed to have been made to or for the benefit of each Borrower
regardless of the fact that persons other than those authorized to request
advances may have authority to draw against such account. The holder shall have
no obligation to determine whether any person requesting an advance is or has
been authorized by any Borrower.

     (c)  Application of Payments. Each payment made on this Note shall be
          -----------------------
credited first, to any interest then due and second, to the outstanding
principal balance hereof. All payments credited to principal shall be applied
first, to the outstanding principal balance of this Note which bears interest
determined in relation to the Prime Rate, if any, and second, to the outstanding
principal balance of this Note which bears interest determined in relation to
LIBOR, with such payments applied to the oldest Fixed Rate Term first.

PREPAYMENT:

     (a)  Prime Rate. Borrower may prepay principal on any portion of this Note
          ----------
which bears interest determined in relation to the Prime Rate at any time, in
any amount and without penalty.

     (b)  LIBOR. Borrower may prepay principal on any portion of this Note which
          -----
bears interest determined in relation to LIBOR at any time and in the minimum
amount of $500,000.00; provided however, that if the outstanding principal
balance of such portion of this Note is less than said amount, the minimum
prepayment amount shall be the entire outstanding principal balance thereof. In
consideration of Bank providing this prepayment option to Borrower, or if any
such portion of this Note shall become due and payable at any time prior to the
last day of the Fixed Rate Term applicable thereto by acceleration or otherwise,
Borrower shall pay to Bank immediately upon demand a fee which is the sum of the
discounted monthly differences for each month from the month of prepayment
through the month in which such Fixed Rate Term matures, calculated as follows
for each such month:

          (i)     Determine the amount of interest which would have accrued each
                  ---------
month on the amount prepaid at the interest rate applicable to such amount had
it remained outstanding until the last day of the Fixed Rate Term applicable
thereto.

          (ii)    Subtract from the amount determined in (i) above the amount of
                  --------
interest which would have accrued for the same month on the amount prepaid for
the remaining term of such Fixed Rate Term at LIBOR in effect on the date of
prepayment for new loans made for such term and in a principal amount equal to
the amount prepaid.

          (iii)   If the result obtained in (ii) for any month is greater than
zero, discount that difference by LIBOR used in (ii) above.

Each Borrower acknowledges that prepayment of such amount may result in Bank
incurring additional costs, expenses and/or liabilities, and that it is
difficult to ascertain the full extent of such costs, expenses and/or
liabilities. Each Borrower, therefore, agrees to pay the above-described
prepayment fee and agrees that said amount represents a reasonable estimate of
the prepayment costs, expenses and/or liabilities of Bank. If Borrower fails to
pay any prepayment fee when due, the amount of such prepayment fee shall
thereafter bear interest until paid at a rate per annum 2.000% above the Prime
Rate in effect from time to time (computed on the basis of a 360-day year,
actual days elapsed). Each change in the rate of interest on any such past due
prepayment fee shall become effective on the date each Prime Rate change is
announced within Bank.

EVENTS OF DEFAULT:

     The occurrence of any of the following shall constitute an "Event of
Default" under this Note:

     (a)  The failure to pay any principal, interest, fees or other charges when
due hereunder or under any contract, instrument or document executed in
connection with this Note.

     (b)  The filing of a petition by or against any Borrower, any guarantor of
this Note or any general partner or joint venturer in any Borrower which is a
partnership or a joint venture (with each such guarantor, general partner and/or
joint venturer referred to herein as a "Third Party Obligor") under any
provisions of the Bankruptcy Reform Act, Title 11 of the United States Code, as
amended or recodified from time to time, or under any similar or other law
relating to bankruptcy, insolvency, reorganization or other relief for debtors;
the appointment of a receiver, trustee, custodian or liquidator of or for any
part of the assets or property of any Borrower or Third Party Obligor; any
Borrower or Third Party Obligor becomes insolvent, makes a general assignment
for the benefit of creditors or is generally not paying its debts as they become
due; or any attachment or like levy on any property of any Borrower or Third
Party Obligor.

     (c)  The death or incapacity of any individual Borrower or Third Party
Obligor, or the dissolution or liquidation of any Borrower or Third Party
Obligor which is a corporation, partnership, joint venture or other type of
entity.

                                                                          Page 3
<PAGE>

     (d)  Any default in the payment or performance of any obligation, or any
defined event of default, under any provisions of any contract, instrument or
document pursuant to which any Borrower or Third Party Obligor has incurred any
obligation for borrowed money, any purchase obligation, or any other liability
of any kind to any person or entity, including the holder.

     (e)  Any financial statement provided by any Borrower or Third Party
Obligor to Bank proves to be incorrect, false or misleading in any material
respect.

     (f)  Any sale or transfer of all or a substantial or material part of the
assets of any Borrower or Third Party Obligor other than in the ordinary course
of its business.

     (g)  Any violation or breach of any provision of, or any defined event of
default under, any addendum to this Note or any loan agreement, guaranty,
security agreement, deed of trust, mortgage or other document executed in
connection with or securing this Note.

MISCELLANEOUS:

     (a)  Remedies. Upon the occurrence of any Event of Default, the holder of
          --------
this Note, at the holder's option, may declare all sums of principal and
interest outstanding hereunder to be immediately due and payable without
presentment, demand, notice of nonperformance, notice Of protest, protest or
notice of dishonor, all of which are expressly waived by each Borrower, and the
obligation, if any, of the holder to extend any further credit hereunder shall
immediately cease and terminate. Each Borrower shall pay to the holder
immediately upon demand the full amount of all payments, advances, charges,
costs and expenses, including reasonable attorneys' fees (to include outside
counsel fees and all allocated costs of the holder's in-house counsel), expended
or incurred by the holder in connection with the enforcement of the holder's
rights and/or the collection of any amounts which become due to the holder under
this Note, and the prosecution or defense of any action in any way related to
this Note, including without limitation, any action for declaratory relief,
whether incurred at the trial or appellate level, in an arbitration proceeding
or otherwise, and including any of the foregoing incurred in connection with any
bankruptcy proceeding (including without limitation, any adversary proceeding,
contested matter or motion brought by Bank or any other person) relating to any
Borrower or any other person or entity.

     (b)  Obligations Joint and Several. Should more than one person or entity
          -----------------------------
sign this Note as a Borrower, the obligations of each such Borrower shall be
joint and several.

     (c)  Governing Law. This Note shall be governed by and construed in
          -------------
accordance with the laws of the state of California.

     IN WITNESS WHEREOF, the undersigned has executed this Note as of the date
first written above.

Staar Surgical Company

By: /s/ William C. Huddleston
   ---------------------------------------------------
        William C. Huddleston, Chief Financial Officer

                                                                          Page 4

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