Document:

<PAGE>

                                                                   EXHIBIT 10.27

                  AMENDED AND RESTATED STOCK OPTION CERTIFICATE

      This Amended and Restated Stock Option Certificate dated February 12, 2003
amends in its entirety the Amended and Restated Stock Option Certificate dated
February 12, 2003, and 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 DAVID BAILEY (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 Amended and Restated 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 and forty thousand
(140,000) 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 cents ($3.60) per Option Share (the "Option Price").
The date of this grant is February 13, 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 [__] 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 12th day of
February, 2008 (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>
February 13, 2004       33 1/3%
February 13, 2005       66 2/3%
February 13, 2006        100.0%
</TABLE>

<PAGE>

The above vesting schedule will be accelerated according to the Recipient's
achievement of certain goals and objectives as stated below:

      (i) the right to purchase fifty thousand (50,000) Option Shares shall vest
immediately upon the Company's filing its submission for approval of the ICL to
the United States Food and Drug Administration, so long as such filing is made
by March 4, 2003; and

      (ii) the right to purchase fifty thousand (50,000) Option Shares shall
vest on April 1, 2004, so long as the Company has achieved sales and profit
forecast for fiscal year 2003.

      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.

<PAGE>

            (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 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.

<PAGE>

            (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 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 13th day of February, 2003.

                                    COMPANY:

                                    STAAR Surgical Company,
                                    a Delaware corporation

                                    By:  /s/ John Bily
                                      ---------------------------
                                      John C. Bily, Secretary
ATTEST:

                  [SEAL]

                                    RECIPIENT:

                                    /s/ David Bailey
                                    ------------------------------
                                    David Bailey

<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:_____________________________________________<PAGE>

                                                                   EXHIBIT 10.28

                            STOCK OPTION CERTIFICATE

      THE OPTION RIGHTS REPRESENTED BY THIS STOCK OPTION CERTIFICATE DO NOT
      CONSTITUTE A SECURITY WHICH IS REQUIRED TO BE REGISTERED UPON THE GRANT OF
      THESE OPTION RIGHTS (AND THEREFORE HAVE NOT BEEN REGISTERED) WITH THE
      UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT
      OF 1933, AS AMENDED, INSOFAR AS THE RECIPIENT OF THIS OPTION HAS NOT AND
      WILL NOT BE REQUIRED TO PAY OR GIVE ANY CONSIDERATION WITH RESPECT TO THE
      GRANT OF THESE OPTION RIGHTS, NOR HAS THE SECURITIES AND EXCHANGE
      COMMISSION REVIEWED OR PASSED UPON THE ACCURACY OR ADEQUACY OF THE
      RECIPIENT'S STOCK OPTION CERTIFICATE. THE OPTION RIGHTS REPRESENTED BY
      THIS STOCK OPTION CERTIFICATE CONSTITUTE A SECURITY WHICH HAS NOT BEEN
      REGISTERED OR QUALIFIED, AS THE CASE MAY BE, UNDER THE SECURITIES LAWS OF
      ANY STATE OR TERRITORY OF THE UNITED STATES WHICH MAY BE APPLICABLE, IN
      RELIANCE UPON AN EXEMPTION FROM REGISTRATION OR QUALIFICATION, AS THE CASE
      MAY BE, AFFORDED BY SUCH STATE OR TERRITORIAL SECURITIES LAWS INCLUDING,
      WITHOUT LIMITATION, WITH THE CALIFORNIA DEPARTMENT OF CORPORATIONS, IN
      RELIANCE UPON THE EXEMPTION FROM REGISTATION AFFORDED BY SECTION 25102(o)
      OF THE CALIFORNIA BLUE SKY LAW, AS AMENDED, NOR HAS NAY SUCH SECURITIES
      REGULATORY AGENCY REVIEWED OR PASSED UPON THE ACCURACY OR ADEQUACY OF THIS
      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 VOLKER
D. ANHAEUSSER (the "Recipient") whose address is c/o 10900 Wilshire Boulevard,
Suite 500, Los Angeles, California 90024, 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. 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, twenty thousand (20,000)
shares of the Company's voting common stock, par value $.01 (the "Common Stock")
(collectively and severally, the "Option Shares"), at the price of ten dollars
and 18.8 cents ($10.188) per Option Share (the "Option Price"), subject to the
following terms and conditions.

      2. PLAN; PLAN SUMMARY. Subject to the terms of this Stock Option
Certificate, 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 (i) is [X] a Non-Qualified Option or
(ii) is [____]

<PAGE>

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. 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
8th day of May 2010 (the "Option Expiration Date"). Notwithstanding the
foregoing, to the extent the Option is not fully vested, the right to exercise
the Option shall be subject to earlier expiration as provided in Article X of
the Plan.

      6. EXERCISE VESTING CONDITIONS. The Option Shares are subject to Article
V, Section 5.05 of the Plan and to the following vesting schedule:

<TABLE>
<CAPTION>
                               Cumulative Vested
                                 Percentage of
    Date                            Shares
------------                   -----------------
<S>                            <C>
May 31, 2000                        10,000
May 31, 2001                        10,000
</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:

            (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, and/or the following items (if
      checked by the Company); (i) [X] shares of Common Stock pursuant to
      Article VIII of the Plan, (ii) [__] surrender of relinquishment of rights
      to acquire Common Stock as more particularly described below, or (iii)
      [X] a full-recourse promissory note as more particularly described
      below.

      8. FORFEITURE; VESTING CONDITIONS. The Option Shares: (i) [__] will be
fully vested upon date of grant, or (ii) [X] are subject to Article V, Section
5.05 of the Plan and to the vesting schedule set forth above , and are subject
to Article X of the Plan and to the forfeiture provisions included therein
relating to the Recipient's continued performance of services in the capacity
indicated above.

      9. VESTING ON CHANGE OF CONTROL. Any unvested Option Shares shall
immediately vest upon the occurrence of a Change In Control or an Approved
Corporate Transaction.

      10. REPRESENTATIONS, WARRANTIES AND COVENANTS. The Recipient hereby
represents, warrants and covenants to the Company, each of which is deemed to be
a separate representation, warranty or covenant, whichever the case may be,
that:

            (a) The Recipient's legal permanent residence and domicile is in the
State of

<PAGE>

California.

            (b) The Recipient, if a natural person, is eighteen (18) or over.

            (c) The Recipient has received a copy of the Plan which explains the
administration and operation of the Plan and certain other relevant matters
pertaining to the Plan, and has read and understood the Plan.

            (d) By reason of the Recipient's business or financial experience,
the Recipient can be reasonably assumed to have the capacity to protect the
Recipient's own interests in connection with the transaction contemplated by
this Stock Option Certificate.

            (e) Before purchasing the Option Shares, the Recipient has had the
opportunity, to the extent the Recipient has determined to be necessary, to be
provided with financial and other written information about the Company; to ask
questions and receive answers concerning the terms and conditions of this Stock
Option Certificate, an investment in the Option Shares, and the business of the
Company and its finances; and that the Recipient has, to the extent he has
availed himself of this opportunity, received satisfactory information and
answers.

            (f) Prior to exercising the Option, the Recipient had the
opportunity to consult with Recipient's investment advisors who are independent
of the Company, including, without limitation, investment, tax, accounting and
legal advisors relative to (i) the investment merits of a proposed investment in
the Option Shares and (ii) the tax consequences of the grant and exercise of the
Option and the subsequent disposition of the Option Shares and the effect of
same upon the Recipient's personal financial circumstances, and that the
Recipient has, to the extent he has availed himself of this opportunity,
received satisfactory information and answers from such investment advisors.

            (g) The Recipient has been informed and understands and agrees as
follows: there are substantial restrictions on the transferability of the Option
Shares as are more particularly described in Article XI, Section 11.02 of the
plan and, as a result of such restrictions, it may not be possible for the
Recipient to sell or otherwise liquidate the Option Shares in the case of
emergency and/or other need, and the Recipient must therefore be able to hold
the Option Shares until the lapse of said restrictions; the Recipient must have
adequate means of providing for the Recipient's current needs and personal
contingencies; the Recipient must have not need for liquidity in an investment
in the Option Shares; and the Recipient has evaluated the Recipient's financial
resources and investment position in view of the foregoing; and that the
Recipient is able to bear the economic risk of an investment in the Option
Shares.

            (h) The Option Shares are being purchased by the Recipient as
principal and not by any other person, with the Recipient's own funds and not
with the funds of any other person, and for the account of the Recipient and not
as nominee or agent and not for the account of any other person. The Recipient
is purchasing the Option Shares for investment for an indefinite period and not
with a view to the sale of distribution of any part or all thereof by public or
private sale or other disposition. Nor person other than the Recipient will have
an interest, beneficial or otherwise, in the Option Shares, and the Recipient is
not obligated to transfer the Option Shares to any other person nor does the
Recipient have any agreement or understanding to do so.

<PAGE>

            (i) To the best of the Recipient's knowledge and belief the offer
and sale of the Option Shares was not accomplished by the publication of any
advertisement, article, notice or other communication published in any
newspaper, magazine, or similar media or broadcast over television or radio; nor
was the offer and sale of the Option Shares accomplished through any seminar or
meeting to which the Recipient was invited by any such publication or
advertisement.

            Each representation, warranty and covenant of the Recipient shall be
deemed made as of the time of grant of this Option, shall be deemed remade at
any time the Recipient exercises this Option, and shall survive the date closing
with respect to the exercise of the last Option hereunder.

      11. 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 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

<PAGE>

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.

                  (iv) No Reliance Upon Prior Representation. The Recipient
acknowledges that neither the Company nor any of its officers, directors,
employees or agents have made any oral representation or promise which would
induce the Recipient prior to executing this Stock Option Certificate to change
the Recipient's position to the Recipient's detriment, partially perform, or
part with value in reliance upon such representation or promise; the Recipient
acknowledges that he or she has taken such action at its own risk; and the
Recipient represents that he or she has not so changed his or her position,
performed or parted with value prior to the time of his or her execution of this
Stock Option Certificate.

            (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 9st day of May
2000.

                                      COMPANY:

                                      STAAR Surgical Company,
                                      a Delaware corporation

                                      By: ________________________________
                                          William C. Huddleston, President

      ATTEST:

                                      By: ________________________________
                                          John Santos, Chief Financial Officer

                                      RECIPIENT:

                                       /s/ Volker D. Anhaeusser
                                      ------------------------------------
                                      Volker D. Anhaeusser

<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 31st day of May 2000 (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.

      The Recipient hereby remakes, reaffirms and reacknowledges all agreements,
representations, warranties and covenants set forth in the Option Certificate as
of the date of the Recipient's notice, all of which shall survive the Closing
with respect to the shares of Common Stock purchased hereby.

      The Recipient hereby acknowledges that the following legend (or any
variation thereof determined appropriate by the Company) will be placed on the
share certificate or certificates for the Option Shares to comply with
applicable federal and state securities laws:

      THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN (1)
      REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, IN
      RELIANCE UPON AN EXEMPTION FROM REGISTRATION AFFORDED BY SUCH ACT, OR (2)
      REGISTERED OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE OR
      TERRITORY OF THE UNITED STATES WHICH MAY BE APPLICABLE, IN RELIANCE UPON
      AN EXEMPTION FROM REGISTRATION OR QUALIFICATION AFFORDED BY SUCH STATE OR
      TERRITORIAL SECURITIES LAWS. THESE SECURITIES HAVE BEEN ACQUIRED FOR THE
      HOLDER'S OWN ACCOUNT FOR INVESTMENT PURPOSES AND NOT WITH A VIEW FOR
      RESALE OR DISTRIBUTION. THESE SECURITIES MAY NOT BE SOLD OR TRANSFERRED
      UNLESS (A) THEY HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES
      ACT OF 1933 AS WELL AS UNDER THE SECURITIES LAWS OF ANY STATE OR TERRITORY
      OF THE UNITED STATES AS MAY THEN BE APPLICABLE, OR (B) THE TRANSFER AGENT
      (OR THE COMPANY IF THEN ACTING

<PAGE>

      AS ITS TRANSFER AGENT) IS PRESENTED WITH EITHER A WRITTEN OPINION
      SATISFACTORY TO COUNSEL FOR THE COMPANY OR A NO-ACTION OR INTERPRETIVE
      LETTER FROM THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION AND ANY
      APPLICABLE STATE OR TERRITORIAL SECURITIES REGULATORY AGENCY TO THE EFFECT
      THAT SUCH REGISTRATION OR QUALIFICATION IS NOT REQUIRED UNDER THE
      CIRCUMSTANCES OF SUCH SALE OR TRANSFER.

            (Signature must conform in all respects to name of the Recipient as
            specified in the Plan, unless the undersigned is the Recipient's
            Successor, in which case the undersigned must submit appropriate
            proof of the right of the undersigned to exercise the Option.)

                  Signature:________________________________________

                  Print Name:_______________________________________

                  Address:__________________________________________

                  __________________________________________________

                                                          Date:________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}]]