Document:

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                                                                   EXHIBIT 10.39

                  AMENDED AND RESTATED STOCK OPTION CERTIFICATE

      This Amended and Restated Stock Option Certificate dated February 12, 2003
replaces 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 NICHOLAS T. CURTIS (the
"Recipient") whose address 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, 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 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 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 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 thirty thousand (30,000) Option Shares shall
vest on April 1, 2004, so long as the Company achieves twenty-eight million
dollars ($28,000,000) in sales at the budgeted gross profit percentage for the
U.S. for fiscal year 2003; or

      (ii) the right to purchase forty thousand (40,000) Option Shares shall
vest on April 1, 2004, so long as the Company achieves twenty-nine million
dollars ($29,000,000) in sales at the budgeted gross profit percentage for the
U.S. for fiscal year 2003; or

      (iii) the right to purchase sixty thousand (60,000) Option Shares shall
vest on April 1, 2004, so long as the Company achieves thirty million dollars
($30,000,000) in sales at the budgeted gross profit percentage for the U.S. 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

<PAGE>

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 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

<PAGE>

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 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 12th day of February, 2003.

                                              COMPANY:

                                              STAAR Surgical Company,
                                              a Delaware corporation

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

ATTEST:

                  [SEAL]

                                              RECIPIENT:

                                              /s/ Nicholas T. Curtis
                                              ----------------------
                                              Nicholas T. Curtis

<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:_____________________________________________exv10w40

 

EXHIBIT 10.40

EMPLOYMENT AGREEMENT

     This Employment Agreement is made and entered into by and between STAAR Surgical Company (the
“Company”), a Delaware corporation located at 1911 Walker Avenue, Monrovia, California 91016 and
Thomas Paul, PhD., (hereinafter the “Employee”), located at 1911 Walker Ave., Monrovia, CA, 91016 effective March 18, 2005.

RECITALS

     A. WHEREAS, the Company wishes to retain the services of Employee and Employee wishes to
render services to Company as Vice President of Research and Development.

     B. WHEREAS, the Employee and the Company desire to enter into this Employment Agreement and to
establish the terms and conditions of the Employee’s employment.

     C. WHEREAS, the Company and the Employee intend that this Agreement will supercede and replace
any and all other employment agreements or arrangements for employment entered into by and between
the Company and the Employee, and that such employment agreements or arrangements shall have no
further force or effect.

AGREEMENT

     NOW, THEREFORE, for and in consideration of the promises, covenants, and agreements contained
herein, the parties hereto agree as follows:

ARTICLE 1

EMPLOYMENT

     1.1 Employment. The Company hereby agrees to employ the Employee and the Employee
hereby agrees to serve the Company in the capacity of Vice President Research and Development,
based upon the terms and conditions set forth in this agreement.

     1.2 Duties. During the term of his employment, the Employee shall devote his full
time, efforts, abilities, and energies to the Company’s business and, in particular, shall use his
best efforts, skill, and abilities to promote the general welfare and interests of the Company.
The Employee shall loyally, conscientiously, and professionally do and perform all such duties and
responsibilities as shall be reasonably assigned by the Company and the Employee’s superiors from
time to time, and shall

 

 

comply with all of the Company’s personnel policies and procedures, including, but not
limited to, those contained in The Company’s Employee Handbook.

     1.3 Noncompetition, Nonsolicitation and Noninterference and Proprietary Property and
Confidential Information Provisions.

          (a) Applicable Definitions.

     For purposes of this paragraph, the following capitalized terms shall have the definitions set
forth below:

                    (i) “Business Segments” — The term “Business Segments” is defined as each of Company’s
(or Company’s affiliates’) products or product lines.

                    (ii) “Competitive Business” — The term “Competitive Business” is defined as any
business that is or may be competitive with or similar to or adverse to any of Company’s (or
Company’s affiliates’) Business Segments, whether such business is conducted by a proprietorship,
partnership, corporation or other entity or venture.

          (b) Nonsolicitation and Noninterference.

               (1) Covenants. Employee hereby covenants and agrees that Employee shall not, either
for Employee’s own account or directly or indirectly in conjunction with or on behalf of any
person, partnership, corporation or other entity or venture:

                    (i) During the term of this Agreement and for a period of one (1) year from the date this
Agreement terminates or expires, solicit or employ or attempt to solicit or employ any person who
is then or has, within twelve (12) months prior thereto, been an officer, partner, manager, agent
or employee of Company or any affiliate of Company whether or not such a person would commit a
breach of that person’s contract of employment with Company or any affiliate of Company, if any, by
reason of leaving the service of Company or any affiliate of Company (the “Nonsolicitation
Covenant”); or

                    (ii) During the term of this Agreement and for a period of one (1) year from the date of the
Agreement, on behalf of, directly or indirectly, any Competitive Business, or for the purpose of or
with the reasonably foreseeable effect of harming the business of Company, solicit the business of
any person, firm or company which is then, or has been at any time during the preceding twelve (12)
months prior to such solicitation, a customer, client, contractor, supplier or vendor of Company or
any affiliate of Company (the “Noninterference Covenant)”.

 

 

               (2) Acknowledgements. Each of the parties acknowledges that: (i) the covenants and
the restrictions contained in the Nonsolicitation and Noninterference Covenants are necessary,
fundamental, and required for the protection of the business of Company; (ii) such Covenants relate
to matters which are of a special, unique and extraordinary value; and (iii) a breach of either of
such Covenants will result in irreparable harm and damages which cannot be adequately compensated
by a monetary award.

               (3) Judicial Limitation. Notwithstanding the foregoing, if at any time, despite the
express agreement of Company and Employee, a court of competent jurisdiction holds that any portion
of this Nonsolicitation and/or Noninterference Covenant is unenforceable by reason of its extending
for too great a period of time or by reason of its being too extensive in any other respect, such
Covenant shall be interpreted to extend only over the maximum period of time or to the maximum
extent in all other respects, as the case may be, as to which it may be enforceable, all as
determined by such court in such action.

               (4) Termination of Agreement. The covenants and agreements contained in the
Nonsolicitation and Noninterference Covenant shall terminate and be of no effect if this Agreement
is terminated by Company without Cause.

          (c) Proprietary Property; Confidential Information.

               (1) “Applicable Definitions” — For purposes of this paragraph, the following
capitalized terms shall have the definitions set forth below:

                    (i) “Confidential Information” — The term “Confidential Information” is collectively
and severally defined as any information, matter or thing of a secret, confidential or private
nature, whether or not so labeled, which is connected with Company’s business or methods of
operation or concerning any of Company’s suppliers, customers, licensors, licensees or others with
whom Company has a business relationship, and which has current or potential value to Company or
the unauthorized disclosure of which could be detrimental to Company. Confidential Information
shall be broadly defined and shall include, by way of example and not limitation: (i) matters of a
business nature available only to management and owners of Company of which Employee may become
aware (such as information concerning customers, vendors and suppliers, including their names,
addresses, credit or financial status, buying or selling habits, practices, requirements, and any
arrangements or contracts that Company may have with such parties, Company’s marketing methods,
plans and strategies, the costs of materials, the prices Company obtains or has obtained or at
which Company sells or has sold its products or services, Company’s manufacturing and sales costs,
the amount of compensation paid to employees of Company and other terms of their employment,
financial information such as financial statements, budgets and projections, and the terms of any
contracts or agreements Company has entered into)

 

 

and (ii) matters of a technical nature (such as product information, trade secrets, know-how,
formulae, innovations, inventions, devices, discoveries, techniques, formats, processes, methods,
specifications, designs, patterns, schematics, data, compilation of information, test results, and
research and development projects). For purposes of the foregoing, the term “trade secrets” shall
mean the broadest and most inclusive interpretation of trade secrets as defined by Section
3426.1(d) of the California Civil Code (the Uniform Trade Secrets Act) and cases
interpreting the scope of said Section.

                    (ii) “Proprietary Property” — The term “Proprietary Property” is collectively and
severally defined as any written or tangible property owned or used by Company in connection with
Company’s business, whether or not such property also qualifies as Confidential Information.
Proprietary Property shall be broadly defined and shall include, by way of example and not
limitation, products, samples, equipment, files, lists, books, notebooks, records, documents,
memoranda, reports, patterns, schematics, compilations, designs, drawings, data, test results,
contracts, agreements, literature, correspondence, spread sheets, computer programs and software,
computer print outs, other written and graphic records, and the like, whether originals, copies,
duplicates or summaries thereof, affecting or relating to the business of Company, financial
statements, budgets, projections, invoices.

               (2) Ownership of Proprietary Property. Employee acknowledges that all Proprietary
Property which Employee may prepare, use, observe, come into possession of and/or control shall, at
all times, remain the sole and exclusive property of Company. Employee shall, upon demand by
Company at any time, or upon the cessation of Employee’s employment, irrespective of the time,
manner, cause or lack of cause of such cessation, immediately deliver to Company or its designated
agent, in good condition, ordinary wear and tear and damage by any cause beyond the reasonable
control of Employee excepted, all items of the Proprietary Property which are or have been in
Employee’s possession or under his control, as well as a statement describing the disposition of
all items of the Proprietary Property beyond Employee’s possession or control in the event Employee
has not previously returned such items of the Proprietary Property to Company.

               (3) Agreement Not to Use or Divulge Confidential Information. Employee agrees that he
will not, in any fashion, form or manner, unless specifically consented to in writing by Company,
either directly or indirectly use, divulge, transmit or otherwise disclose or cause to be used,
divulged, transmitted or otherwise disclosed to any person, firm or corporation, in any manner
whatsoever (other than in Employee’s performance of duties for Company or except as required by
law) any Confidential Information of any kind, nature or description. The foregoing provisions
shall not be construed to prevent Employee from making use of or disclosing information which is in
the public domain through no fault of Employee, provided, however, specific information shall not
be deemed to be in the public domain merely because it is

 

 

encompassed by some general information that is published or in the public domain or in
Employee’s possession prior to Employee’s employment with Company.

               (4) Acknowledgement of Secrecy. Employee acknowledges that the Confidential
Information is not generally known to the public or to other persons who can obtain economic value
from its disclosure or use and that the Confidential Information derives independent economic value
thereby, and Employee agrees that he shall take all efforts reasonably necessary to maintain the
secrecy and confidentiality of the Confidential Information and to otherwise comply with the terms
of this Agreement.

               (5) Inventions, Discoveries. Employee acknowledges that any inventions, discoveries
or trade secrets, whether patentable or not, made or found by Employee in the scope of his
employment with Company constitute property of Company and that any rights therein now held or
hereafter acquired by Employee individually or in any capacity are hereby transferred and assigned
to Company, and agrees to execute and deliver any confirmatory assignments, documents or
instruments of any nature necessary to carry out the intent of this paragraph when requested by
Company without further compensation therefore, whether or not Employee is at the time employed by
Company. Provided, however, notwithstanding the foregoing, Employee shall not be required to
assign his rights in any invention which qualifies fully under the provisions of Section 2870(a) of
the California Labor Code, which provides, in pertinent part, that the requirement to
assign “shall not apply to any invention that the employee developed entirely on his or her own
time without using employer’s equipment, supplies, facilities or trade secret information except
for those inventions that either:

                    (i) Relate at the time of conception or reduction to practice of the invention to the
employer’s business, or actual or demonstrably anticipated research or development of the employer;
or

                    (ii) Result from any work performed by the employee for the employer.”

     Employee understands that he bears the full burden of proving to Company that an invention
qualifies fully under Section 2870(a). By signing this Agreement, Employee acknowledges receipt of
a copy of this Agreement and of written notification of the provisions of Section 2870.

ARTICLE 2

COMPENSATION

     2.1 Salary. The Company shall pay the Employee a salary payable at the gross rate of
$6346.15 per pay period, to be paid on a bi-weekly basis. Employee’s annual salary shall be
reviewed periodically by Company for the purpose of determining whether Employee’s salary shall be
increased.

 

 

     2.2 Employee Benefits. In addition to the compensation specified above, the Employee
shall be permitted to participate in certain employee benefit programs in the same manner and
subject to the same terms, conditions, and limitations as other full-time employees of the Company.
The Employee shall also be eligible for four weeks vacation per year.

     2.3 Business Expenses. The Company will reimburse the Employee for reasonable
business expenses as outlined in the company’s business expense policy and provided that these
expenses were incurred on Company business and that expense reports regarding these expenses are
submitted to the Company in a timely manner.

     2.4 Bonus. In addition to the salary described above, the Employee shall be eligible
for an annual bonus of up to 25% of Employee’s base salary, with 30% of the 25% based on the
achievement of individual objectives, 70% based on the achievement of Corporate financial targets.
This bonus will be payable on Employee’s anniversary date of hire and subject to the successful
achievement of the goals and objectives.

ARTICLE 3

TERMINATION OF EMPLOYMENT

     3.1 Termination. This employment relationship may be terminated for any of the
reasons provided below:

     a. Termination for Cause. Company may terminate this Agreement for “Cause”, upon 15
days written notice. Cause means any of the following: (1) willful breach or habitual neglect of
the duties which Employee is required to perform under the terms of this Agreement, (2) any act of
dishonesty, fraud, insubordination, misrepresentation, gross negligence or willful misconduct, (3)
conviction of a felony, or (4) intentional violation of any Company policy. With the exception of
the covenants set forth in Paragraph 1.3, 4.1 and 4.3, upon such termination the obligations of
Employee and Company under this Agreement shall immediately cease. Such termination shall be
without prejudice to any other remedy to which Company may be entitled either at law, in equity, or
under this Agreement. If Employee’s employment is terminated pursuant to this paragraph, the
Company shall pay to Employee, immediately upon such termination, any accrued but unpaid
compensation to which Employee is entitled on the date of such termination.

     b. Termination for Poor Performance. Employer may terminate employee’s employment
under this Agreement for “Poor Performance”. Poor Performance is a failure of the Employee to
properly meet the duties and responsibilities of his position in a competent fashion, as determined
by the Chief Executive Officer. Such termination for “Poor Performance” shall occur only after
employee has been advised in writing of the failure to meet the duties and responsibilities, or

 

 

guidelines/goals and given a reasonable period of time of at least 30 days to cure the Poor
Performance. Following the termination for Poor Performance, the Employee shall be entitled to
payment of his base salary through the last day of his employment. Employee shall be entitled to
no other payments or benefits after a termination for Poor Performance. With the exception of the
covenants set forth in Paragraph 1.3, 4.1 and 4.3, upon such termination the obligations of
Employee and Company under this Agreement shall immediately cease.

     c. Death. Employee’s employment shall terminate upon the death of Employee. Upon
such termination, the obligations of Employee and Company under this Agreement shall immediately
cease. In the event of a termination pursuant to this paragraph, Employee shall be entitled to
receive any amount of compensation earned but unpaid. All other rights Employee has under any
benefit or stock option plans and programs shall be determined in accordance with the terms and
conditions of such plans and programs.

     d. Election By Employee. Employee’s employment may be terminated at any time by
Employee upon not less than thirty (30) days written notice to Company. With the exception of the
covenants set forth in Paragraphs 1.3, 4.1 and 4.3, upon such termination the obligations of
Employee and the Company under this Agreement shall immediately cease. In the event of a
termination pursuant to this paragraph, Employee shall be entitled to receive any amount of
compensation earned but unpaid. All other rights Employee has under any benefit or stock option
plans and programs shall be determined in accordance with the terms and conditions of such plans
and programs.

     e. Election by Company Due to a Change of Control. If Employee’s employment
is terminated by Company due to the sale or disposition by the Company of substantially all of its
business or assets or the sale of the capital stock of Company in connection with the sale or
transfer of a controlling interest in Company to a third party or the merger or consolidation of
Company with another corporation as part of a sale or transfer of a controlling interest in Company
to a third party and if the Employee’s essential duties and responsibilities as set forth
in the job description for the position that Employee is in at the time of the change of control
are significantly changed due to a change in control, then in lieu of any other rights or benefits
under this Agreement, Employee shall be entitled to six months base salary, and any option held by
Employee which is unvested on the date of termination shall immediately vest. “A controlling
interest” shall be defined as 50% or more of the common stock of the Company. “ Six months base
salary” shall be defined as only the cash compensation paid to Employee pursuant to paragraph 2.1,
as it may be modified from time to time, and shall not include employee benefits, bonus, stock
options, automobile allowance or debt forgiveness, if any. With the exception of the covenants
contained in Paragraphs 1.3(c), 4.1 and 4.3, upon such termination the obligations of Employee and
the Company shall immediately cease.

 

 

     f. Termination Without Cause. Company is entitled to terminate the Employee’s
employment without cause for any reason; provided, however, that the Employee shall be entitled to
30 days written notice and five months pay as severance, as well as any accrued but unpaid
compensation in lieu of any other rights or benefits under this Agreement, to which Employee is
entitled on the date of such termination. With the exception of the covenants contained in
Paragraphs 1.3(c), 4.1 and 4.3, upon such termination the obligations of Employee and the Company
shall immediately cease.

ARTICLE 4

ADDITIONAL OBLIGATIONS

     4.1 Non-Interference. The Employee shall not now or in the future, either during or
subsequent to the period of the Employee’s employment, disrupt, damage, impair or interfere with
the business of the Company in any manner, including, without limitation, inducing an employee to
leave the employ of the Company or inducing an employee, a consultant, a sales representative, or
an independent contractor to sever that person’s relationship with the Company either by
interfering with or raiding the Company’s employees or sales representatives, disrupting the
relationships with customers, agents, independent contractors, representatives or vendors, or
otherwise.

     4.2 Conflicts of Interest. If the Employee is involved, directly or indirectly, in an
activity that presents a potential or actual conflict of interest, as determined by the Company, by
virtue of the Employee’s employment or employment relationship with the Company, the Employee shall
immediately terminate such activity, employment and/or relationship unless the Employee has the
express written permission of the Company to continue it. If the Employee has any doubts as to
whether a potential or actual conflict of interest is involved, the Employee must disclose all
pertinent facts to the Company before undertaking the activity. The Company shall make the final
decision as to whether such a conflict or potential conflict exists in its sole and subjective
discretion.

     4.3 Confidentiality. The Employee agrees, at all times during and after the
Employee’s employment hereunder, to hold in the strictest confidence, and not to disclose to any
person, firm or corporation without the express written authorization of the Chairman of the Board
of the Company, any trade secret, such as any financial

 

 

information or any secret, proprietary, or confidential information relating to the research
and development programs, vendor and marketing programs, customers, customers’ information, sales
or business of the Company, except as such disclosure or use may be required in connection with his
work for the Company or is published or is otherwise readily available to the public or becomes
known to the public other than by his breach of this Agreement. If it is at any time determined
that any of the information or materials identified above are, in whole or in part, not entitled to
protection as trade secrets, the Employee and the Company agree that they shall nevertheless be
considered and treated as confidential information that is protected under this Agreement, in the
same manner as trade secrets, to the extent permitted by law.

     The Employee further agrees, upon termination of this Agreement, to promptly deliver to the
Company all notes, books, correspondence, drawings, computer storage information, and any and all
other written and graphical records in his possession or under his control relating to the past,
present or future business, accounts, or projects of the Company.

ARTICLE 5

MISCELLANEOUS

     5.1 Entire Agreement. This Agreement constitutes the entire agreement and
understanding between the parties with respect to the subject matter hereof and supersedes any and
all other arrangements, communications, understandings, promises, stipulations, arrangements,
whether any of the same are either oral or in writing, or express or implied, between the parties
hereto with respect to the subject matter hereof, including, but not limited to, any implied-in-law
or implied-in-fact covenants or duties relating to employment or the termination of employment. No
change to or modification of this Agreement shall be valid or binding unless the same shall be in
writing and signed by both the Employee and the President of the Company.

     5.2 Severability. In the event that any one or more of the provisions of this
Agreement shall be held invalid, illegal, or unenforceable, in any respect, by a court of competent
jurisdiction, the validity, legality, and enforceability of the remaining provisions contained
herein shall not in any way be affected thereby.

     5.3 Applicable Law. This Agreement and the rights and remedies of each party arising
out of or relating to this Agreement, shall be governed by, interpreted under and enforced under
the laws of the State of California.

 

 

     5.4 Counterparty. This Agreement may be executed in counterparts, each of which shall
be deemed an original.

     IN WITNESS WHEREOF, the parties hereto acknowledge that they have read this Agreement, fully
understand it, and have freely and voluntarily entered into it.

	 	 	 	 	 	 	 	 
	

	 	 	 	“EMPLOYEE”
	 
	 	 	 	 	 	 
	DATED:

	 	 
	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	

	 	 	 	“The Company”
	 
	 	 	 	 	 	 
	DATED:

	 	 	 	By	 	 
	

	 	 	 	 	 
	

	 	 	 	 	 	STAAR Surgical Company

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