Document:

<PAGE>

                                                                   EXHIBIT 10.32

                            STOCK OPTION CERTIFICATE

      This Stock Option Certificate is entered into between STAAR Surgical
Company, a Delaware corporation (the "Company"), whose principal executive
office is located at 1911 Walker Avenue, Monrovia, California 91016, and Donald
Duffy (the "Recipient") whose address is 1911 Walker Avenue, Monrovia, CA 91016
pursuant to that certain 1998 STAAR Surgical Company Stock Plan (the "Plan")
adopted by the Board of Directors on April 17, 1998 and approved by the
shareholders on May 29, 1998.

      1. GRANT OF OPTION. Subject to the terms and conditions included herein,
this Stock Option Certificate certifies that the Company has granted to the
Recipient, pursuant to the terms of the Plan, an option (the "Option") to
purchase, in whole or in part, sixty thousand (60,000) shares of the Company's
voting common stock, par value $.01 (the "Common Stock") (collectively and
severally, the "Option Shares"), at the price of three dollars and sixty-one
cents ($3.61) per Option Share (the "Option Price"). The date of this grant is
January 30, 2003 (the "Grant Date").

      2. PLAN; PLAN SUMMARY. The Recipient's rights to purchase the Option
Shares are governed by the Plan, the terms of which are incorporated herein by
this reference.

      3. CHARACTER OF OPTION. This Option is [X] a Non-Qualified Option or [__]
an Incentive Option.

      4. CAPACITY OF RECIPIENT. This Option is granted to the Recipient in the
Recipient's capacity as (i) [__] an employee, (ii) [X] a director, or (iii) [__]
a consultant.

      5. EXPIRATION OF OPTION. Subject to the terms and conditions set forth in
this Stock Option Certificate and in the Plan, the right to exercise the Options
granted by this Stock Option Certificate shall expire and be null and void and
of no further force or effect to the extent not exercised by 5:00 p.m. Pacific
Time, on the 29th day of January, 2008 (the "Option Expiration Date").

      6. EXERCISE VESTING CONDITIONS. The Option is (i) [__] fully vested upon
date of grant, or (ii) [__] subject to the following vesting schedule as well as
based upon Recipient's continued performance of services in the capacity
hereinabove indicated:

<TABLE>
<CAPTION>
                                                        Cumulative Vested
                                                          Percentage of
Date                                                          Shares
----                                                    -----------------
<S>                                                     <C>
                                                              100.0%
</TABLE>

      7. MANNER OF EXERCISE AND PAYMENT. This Option shall be exercised by
delivery of this Option Certificate to the Secretary of the Company, together
with:

<PAGE>

            (a) A Consent of Spouse (as such consent is defined in the Plan)
      from the spouse of the Recipient, if any, duly signed by such spouse; and

            (b) Full payment for the Option Shares to be purchased in goods
      funds (in U.S. dollars) by cash or check or through a "same day sale"
      commitment from the Recipient and a broker-dealer that is a member of the
      National Association of Securities Dealers (an "NASD Dealer") whereby the
      Recipient irrevocably elects to exercise the Option and to sell a portion
      of the Option Shares so purchased to pay for the Option Price, and whereby
      the NASD Dealer irrevocably commits upon receipt of such Option Shares to
      forward the Option Price directly to the Company.

      8. FORFEITURE; VESTING CONDITIONS. This Option (i) [__] will be fully
vested upon date of grant, or (ii) [__] will be subject to Article V, Section
5.05 and Article X of the Plan, inasmuch as the Option will be subject to: (A)
the vesting schedule set forth above and (B) the special rules regulating
vesting and forfeiture on Termination of Recipient.

      9. RECIPIENT'S REPRESENTATIONS. The Recipient represents that the
Recipient has received a Section 10(a) Prospectus, which explains the
administration and operation of the Plan, and has received a copy of the Plan.

      10. MISCELLANEOUS.

            (a) PREPARATION OF STOCK OPTION CERTIFICATE. This Stock Option
Certificate was prepared by the Company or its legal counsel solely on behalf of
the Company. It is acknowledged by the Recipient that he or she was not
represented by the Company or any of its officers, directors, employees or
agents (including the Company's legal counsel) in connection with the
transaction contemplated by this Stock Option Certificate, and that the
Recipient had separate and independent advice of counsel. In light of the
foregoing it is acknowledged by the Recipient that the Company shall not be
construed to be solely responsible for the drafting hereof, and that any
ambiguity in the Plan or this Stock Option Certificate, or the interpretation
thereof or hereof, shall not be construed against the Company as the alleged
draftsman of this Stock Option Certificate.

            (b) INTERPRETATION.

                  (i) Entire Agreement/No Collateral Representations. The
Recipient acknowledges and agrees that this Stock Option Certificate, together
with and subject to the Plan: (1) is the final, complete and exclusive statement
of the agreement of the parties with respect to the subject matter hereof; (2)
supersedes any prior or contemporaneous agreements or understandings of any
kind, oral or written (collectively and severally, the "prior agreements"), and
that any such prior agreements are of no force or effect except as expressly set
forth herein; and (3) may not be varied, supplemented or contradicted by
evidence of prior agreements, or by evidence of subsequent oral agreements.

                  (ii) Amendment; Waiver. Except as expressly otherwise provided
herein, neither this Stock Option Certificate nor any of its terms may be
amended, supplemented, discharged or

<PAGE>

terminated (other than by performance), except as provided in the Plan or by a
written instrument or instruments signed by all of the parties to this Stock
Option Certificate. No waiver of any acts or obligations hereunder shall be
effective unless such waiver shall be in a written instrument or instruments
signed by each party claimed to have given or consented to such waiver and each
party affected by such waiver.

                  (iii) Severability. If any term or provision of this Stock
Option Certificate or the application thereof to any person or circumstance
shall, to any extent, be determined to be invalid, illegal or unenforceable
under present or future laws effective during the term of this Stock Option
Certificate, then, and in that event: (A) the performance of the offending term
or provision (but only to the extent its application is invalid, illegal or
unenforceable) shall be excused as if it had never been incorporated into this
Stock Option Certificate, and, in lieu of such excused provision, there shall be
added a provision as similar in terms and amount to such excused provision as
may be possible and be legal, valid and enforceable, and (B) the remaining part
of this Stock Option Certificate (including the application of the offending
term or provision to persons or circumstances other than those as to which it is
held invalid, illegal or unenforceable) shall not be affected thereby and shall
continue in full force and effect to the fullest extent provided by law.

            (c) ENFORCEMENT. This Stock Option Certificate and the rights and
remedies of each party arising out of or relating to this Stock Option
Certificate shall be solely governed in accordance with the laws (without regard
to the conflicts of law principles thereof) of the state of Delaware.

            (d) SUCCESSORS AND ASSIGNS. The Recipient may not assign his rights
or benefits or delegate any of his duties or obligations under this Stock Option
Certificate, in whole or in part, without the prior written consent of the
Company, except pursuant to the terms of the Plan. Subject to the foregoing, all
of the representations, warranties, covenants, conditions and provisions of this
Stock Option Certificate shall be binding upon and shall inure to the benefit of
each party and such party's respective successors and permitted assigns,
spouses, heirs, executors, administrators, and personal and legal
representatives.

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

<PAGE>

      WHEREFORE, the parties hereto have for purposes of this Stock Option
Certificate executed this Stock Option Certificate in the City of Monrovia,
County of Los Angeles, State of California, effective as of the _______ day of
__________________ 2001.

                                       COMPANY:

                                       STAAR Surgical Company,
                                       a Delaware corporation

                                       By: /s/ John C. Bily
                                           -------------------------------------
                                           John C. Bily, Chief Financial Officer
ATTEST:

                  [SEAL]

                                       RECIPIENT:

                                       /s/ Donald Duffy
                                       -----------------------------------------

<PAGE>

                                   ATTACHMENT
                                       TO
                            STOCK OPTION CERTIFICATE

                       NOTICE OF EXERCISE OF STOCK OPTION

<PAGE>

                       NOTICE OF EXERCISE OF STOCK OPTION

          [To be signed by the Recipient only upon exercise of Option]

TO:       Secretary
          STAAR Surgical Company
          1911 Walker Avenue
          Monrovia, California 91016

      The undersigned, the holder of an Option under that certain Stock Option
Certificate dated effective the _________ day of ____________, _________ (the
"Option Certificate"), between STAAR Surgical Company, a Delaware corporation
(the "Company") and the undersigned (the "Recipient"), hereby irrevocably
elects, in accordance with the terms and conditions of that certain 1998 STAAR
Surgical Company Stock Plan (the "Plan") adopted by the Board of Directors on
April 17, 1998 and approved by the shareholders on May 29, 1998, under which the
Option Certificate was granted, to exercise the undersigned's Option to
purchase _________________ (______)(1) shares of the Company's voting common
stock, $ .01 per share par value ("Common Stock") (collectively and severally,
the "Option Shares"), for the aggregate purchase price of _____________________
($_____)(2).

(1)   Insert number of Option Shares as specified in the Option Certificate
      which are vested Option Shares (as defined by the Plan) which the
      Recipient is exercising the Option to purchase.

(2)   Number of Option Shares to be exercised as hereinabove specified
      multiplied by the Option Price per share.

                           Signature:________________________________________

                           Print Name:_______________________________________

                           Address:__________________________________________

                           __________________________________________________

                           Date:_____________________________________________<PAGE>

                                                                   EXHIBIT 10.34

                            STOCK OPTION CERTIFICATE

      This Stock Option Certificate is entered into between STAAR Surgical
Company, a Delaware corporation (the "Company"), whose principal executive
office is located at 1911 Walker Avenue, Monrovia, California 91016, and JOHN C.
BILY (the "Recipient") whose address is 1911 Walker Avenue, Monrovia, California
91016, pursuant to that certain 1998 STAAR Surgical Company Stock Plan (the
"Plan") adopted by the Board of Directors on April 17, 1998 and approved by the
shareholders on May 29, 1998.

      1. GRANT OF OPTION. Subject to the terms and conditions included herein,
this Stock Option Certificate certifies that the Company has granted to the
Recipient, pursuant to the terms of the Plan, an option (the "Option") to
purchase, in whole or in part, One Hundred Thousand (100,000) shares of the
Company's voting common stock, par value $.01 (the "Common Stock") (collectively
and severally, the "Option Shares"), at the price of Three dollars and
Twenty-nine cents ($3.29) per Option Share (the "Option Price"). The date of
this grant is: December 12, 2001 (the "Grant Date").

      2. PLAN; PLAN SUMMARY. The Recipient's rights to purchase the Option
Shares are governed by the Plan, the terms of which are incorporated herein by
this reference.

      3. CHARACTER OF OPTION. This Option is [__] a Non-Qualified Option or [X]
an Incentive Option.

      4. CAPACITY OF RECIPIENT. This Option is granted to the Recipient in the
Recipient's capacity as (i) [X] an employee, (ii) [__] a director, or (iii) [__]
a consultant.

      5. EXPIRATION OF OPTION. Subject to the terms and conditions set forth in
this Amended and Restated Stock Option Certificate and in the Plan, the right to
exercise the Options granted by this Amended and Restated Stock Option
Certificate shall expire and be null and void and of no further force or effect
to the extent not exercised by 5:00 p.m. Pacific Time, on the 11th day of
December, 2006 (the "Option Expiration Date").

      6. EXERCISE VESTING CONDITIONS. The Option is (i) [__] fully vested upon
date of grant, or (ii) [X] subject to the following vesting schedule as well as
based upon Recipient's continued performance of services in the capacity
hereinabove indicated:

<TABLE>
<CAPTION>
                                Cumulative Vested
                                  Percentage of
     Date                            Shares
-----------------               -----------------
<S>                             <C>
December 12, 2002                    33 1/3%
December 12, 2003                    66 2/3%
December 12, 2004                     100.0%
</TABLE>

The above vesting schedule will be accelerated according to the Recipient's
achievement of certain goals and objectives to be determined at a later date. A
summary of the milestones will be attached

<PAGE>

to this agreement and will have the same force and effect as if the milestones
were stated herein.

      7. MANNER OF EXERCISE AND PAYMENT. This Option shall be exercised by
delivery of this Option Certificate to the Secretary of the Company, together
with:

            (a) A Consent of Spouse (as such consent is defined in the Plan)
      from the spouse of the Recipient, if any, duly signed by such spouse; and

            (b) Full payment for the Option Shares to be purchased in goods
      funds (in U.S. dollars) by cash or check or through a "same day sale"
      commitment from the Recipient and a broker-dealer that is a member of the
      National Association of Securities Dealers (an "NASD Dealer") whereby the
      Recipient irrevocably elects to exercise the Option and to sell a portion
      of the Option Shares so purchased to pay for the Option Price, and whereby
      the NASD Dealer irrevocably commits upon receipt of such Option Shares to
      forward the Option Price directly to the Company.

      8. FORFEITURE; VESTING CONDITIONS. This Option (i) [__] will be fully
vested upon date of grant, or (ii) [X] will be subject to Article V, Section
5.05 and Article X of the Plan, inasmuch as the Option will be subject to: (A)
the vesting schedule set forth above and (B) the special rules regulating
vesting and forfeiture on Termination of Recipient.

      9. RECIPIENT'S REPRESENTATIONS. The Recipient represents that the
Recipient has received a Section 10(a) Prospectus, which explains the
administration and operation of the Plan, and has received a copy of the Plan.

      10. MISCELLANEOUS.

            (a) PREPARATION OF STOCK OPTION CERTIFICATE. This Amended and
Restated Stock Option Certificate was prepared by the Company or its legal
counsel solely on behalf of the Company. It is acknowledged by the Recipient
that he or she was not represented by the Company or any of its officers,
directors, employees or agents (including the Company's legal counsel) in
connection with the transaction contemplated by this Amended and Restated Stock
Option Certificate, and that the Recipient had separate and independent advice
of counsel. In light of the foregoing it is acknowledged by the Recipient that
the Company shall not be construed to be solely responsible for the drafting
hereof, and that any ambiguity in the Plan or this Amended and Restated Stock
Option Certificate, or the interpretation thereof or hereof, shall not be
construed against the Company as the alleged draftsman of this Amended and
Restated Stock Option Certificate.

            (b) INTERPRETATION.

                  (i) Entire Agreement/No Collateral Representations. The
Recipient acknowledges and agrees that this Amended and Restated Stock Option
Certificate, together with and subject to the Plan: (1) is the final, complete
and exclusive statement of the agreement of the parties with respect to the
subject matter hereof; (2) supersedes any prior or contemporaneous agreements or
understandings of any kind, oral or written (collectively and severally, the
"prior

<PAGE>

agreements"), and that any such prior agreements are of no force or effect
except as expressly set forth herein; and (3) may not be varied, supplemented or
contradicted by evidence of prior agreements, or by evidence of subsequent oral
agreements.

                  (ii) Amendment; Waiver. Except as expressly otherwise provided
herein, neither this Amended and Restated Stock Option Certificate nor any of
its terms may be amended, supplemented, discharged or terminated (other than by
performance), except as provided in the Plan or by a written instrument or
instruments signed by all of the parties to this Amended and Restated Stock
Option Certificate. No waiver of any acts or obligations hereunder shall be
effective unless such waiver shall be in a written instrument or instruments
signed by each party claimed to have given or consented to such waiver and each
party affected by such waiver.

                  (iii) Severability. If any term or provision of this Amended
and Restated Stock Option Certificate or the application thereof to any person
or circumstance shall, to any extent, be determined to be invalid, illegal or
unenforceable under present or future laws effective during the term of this
Amended and Restated Stock Option Certificate, then, and in that event: (A) the
performance of the offending term or provision (but only to the extent its
application is invalid, illegal or unenforceable) shall be excused as if it had
never been incorporated into this Amended and Restated Stock Option Certificate,
and, in lieu of such excused provision, there shall be added a provision as
similar in terms and amount to such excused provision as may be possible and be
legal, valid and enforceable, and (B) the remaining part of this Amended and
Restated Stock Option Certificate (including the application of the offending
term or provision to persons or circumstances other than those as to which it is
held invalid, illegal or unenforceable) shall not be affected thereby and shall
continue in full force and effect to the fullest extent provided by law.

            (c) ENFORCEMENT. This Amended and Restated Stock Option Certificate
and the rights and remedies of each party arising out of or relating to this
Amended and Restated Stock Option Certificate shall be solely governed in
accordance with the laws (without regard to the conflicts of law principles
thereof) of the state of Delaware.

            (d) SUCCESSORS AND ASSIGNS. The Recipient may not assign his rights
or benefits or delegate any of his duties or obligations under this Amended and
Restated Stock Option Certificate, in whole or in part, without the prior
written consent of the Company, except pursuant to the terms of the Plan.
Subject to the foregoing, all of the representations, warranties, covenants,
conditions and provisions of this Amended and Restated Stock Option Certificate
shall be binding upon and shall inure to the benefit of each party and such
party's respective successors and permitted assigns, spouses, heirs, executors,
administrators, and personal and legal representatives.

            (e) NOTICES. Unless otherwise specifically provided in this Amended
and Restated Stock Option Certificate, all notices, demands, requests, consents,
approvals or other communications (collectively and severally called "notices")
required or permitted to be given hereunder, or which are given with respect to
this Amended and Restated Stock Option Certificate, shall be in writing, and
shall be given by: (A) personal delivery (which form of notice shall be deemed
to have been given upon delivery), (B) by telegraph or by private
airborne/overnight delivery service (which forms of notice shall be deemed to
have been given upon confirmed delivery by the delivery agency), (C) by
electronic or facsimile or telephonic transmission, provided

<PAGE>

the receiving party has a compatible device or confirms receipt thereof (which
forms of notice shall be deemed delivered upon confirmed transmission or
confirmation of receipt), or (D) by mailing in the United States mail by
registered or certified mail, return receipt requested, postage prepaid (which
forms of notice shall be deemed to have been given upon the fifth {5th} business
day following the date mailed).

      WHEREFORE, the parties hereto have for purposes of this Amended and
Restated Stock Option Certificate executed this Amended and Restated Stock
Option Certificate in the City of Monrovia, County of Los Angeles, State of
California, effective as of the 18 January 2002.

                                        COMPANY:

                                        STAAR Surgical Company,
                                        a Delaware corporation

                                        By: /s/ David Bailey
                                        --------------------------
                                           David Bailey

ATTEST:

                                        By: /s/ John Santos
                                        --------------------------
                                           John Santos, Secretary

            [SEAL]

                                        RECIPIENT:

                                            /s/ John Bily
                                        --------------------------

<PAGE>

                                   ATTACHMENT
                                       TO
                            STOCK OPTION CERTIFICATE

                       NOTICE OF EXERCISE OF STOCK OPTION

<PAGE>

                       NOTICE OF EXERCISE OF STOCK OPTION

          [To be signed by the Recipient only upon exercise of Option]

TO:         Secretary
            STAAR Surgical Company
            1911 Walker Avenue
            Monrovia, California 91016

      The undersigned, the holder of an Option under that certain Amended and
Restated Stock Option Certificate dated effective the _____ day of ___________,
______ (the "Option Certificate"), between STAAR Surgical Company, a Delaware
corporation (the "Company") and the undersigned (the "Recipient"), hereby
irrevocably elects, in accordance with the terms and conditions of that certain
1998 STAAR Surgical Company Stock Plan (the "Plan") adopted by the Board of
Directors on April 17, 1998 and approved by the shareholders on May 29, 1998,
under which the Option Certificate was granted, to exercise the undersigned's
Option to purchase (___)(1) shares of the Company's voting common stock, $ .01
per share par value ("Common Stock") (collectively and severally, the "Option
Shares"), for the aggregate purchase price of ($______)(2).

(1)   Insert number of Option Shares as specified in the Option Certificate
      which are vested Option Shares (as defined by the Plan) which the
      Recipient is exercising the Option to purchase.

(2)   Number of Option Shares to be exercised as hereinabove specified
      multiplied by the Option Price per share.

                  Signature:________________________________________

                  Print Name:_______________________________________

                  Address:__________________________________________

                  __________________________________________________

                  Date:_____________________________________________

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