Document:

Barry G. Caldwell

        President and CEO

 

March 27, 2012

 

Mr. Samuel Gesten 1911

Walker Avenue

Monrovia, CA 91016

 

Dear Sam,

 

STAAR Surgical Company is pleased to offer
you the position of Vice President, General Counsel, Corporate Secretary, reporting to Barry Caldwell, President and Chief Executive
Officer. When you accept this offer and begin employment, your beginning wage will be $11,538.47 per bi-weekly pay period for 26
pay periods per year ($300,000 per year), in addition to all the benefits offered in our current policy. You will also accrue three
weeks of vacation per year. In addition, as a member of the Executive Team, you will be entitled to Change in Control and Severance
Agreements and STAAR Surgical Company will provide an Executive Health Program and a Variable Universal Executive Life Insurance
policy, which would include a $500,000 death benefit.

 

Subject to approval by the Board of Directors,
you will receive an option to purchase up to 50,000 of STAAR Surgical Company Common Stock. The grant will be effective and priced
on April 2, 2012, assuming that is your first day of employment. The options will vest over a period of three years, commencing
on your first day of employment.

 

As part of the Executive Long Term Incentive
Plan you will also receive an option to purchase up to an additional 20,000 Shares of STAAR Surgical Company Common Stock and receive
a grant of 7,500 Performance Accelerated Restricted Shares (PARS) subject to Board approval. These grants will be effective and
priced on April 2, 2012, assuming that is your first day of employment.

 

In addition, you will be eligible for a
target bonus of 35% of your annual salary, which will be payable on an annual basis and subject to the successful achievement of
corporate and personal goals and objectives. Bonus awards are subject to recommendation by the Compensation Committee of the Board
of Directors and approved by the entire Board of Directors.

 

Upon acceptance of this offer and the successful
completion of a reference cheek, background check and drug screen, you may begin work on or before April 2, 2012.

Please make note, employment is at the
mutual consent of the employee and STAAR and can be terminated "at will," with or without cause, by either you or STAAR
in its sole discretion at any time.

 

	1911 Walker Avenue, Monrovia, CA 91016	t. 626.303.7902	www.staar.com

 

    	 

    	 

    

 

		
        Barry G. Caldwell

        President and CEO

 

On your first day of employment
you will need to bring with you identification in order to complete all necessary paperwork, including your Employment Eligibility
Verification (Form I9).

 

Sam, we are very excited about
the possibility joining the STAAR Executive TEAM, helping us accomplish our mission and we hope you enjoy the many great opportunities
STAAR has to offer. I look forward to you joining our TEAM.

 

	Thank you,	Accepted by:

 

	/s/ Barry G. Caldwell	 	/s/ Samuel Gesten
	Barry G. Caldwell

President, Chief Executive Officer and

Director (principal executive officer)	 	
        Samuel Gesten

        Vice President General Counsel

        and Corporate SecretaryBarry G. Caldwell

        President and CEO

 

August 10, 2012

 

Mr. James E. Francese

1911 Walker Avenue

Monrovia, CA 91016

 

Dear Jim,

 

STAAR Surgical Company is pleased to offer
you the position of Vice President, Global Marketing, reporting to Barry Caldwell, President and Chief Executive Officer. When
you accept this offer and begin employment, your beginning wage will be $10,000 per bi-weekly pay period for 26 pay periods per
year ($260,000 per year), in addition to all the benefits offered in our current policy. As a member of the Executive Team, you
will be entitled to an Executive Health Program and a Variable Universal Executive Life Insurance policy, which would include a
$500,000 death benefit.

 

The Board of Directors has approved your
option to purchase up to 50,000 shares of STAAR Surgical Company Common Stock. The options will vest over a period of three years,
one third will vest upon the first year anniversary of grant date, one third after the second and one third after the third year
anniversary of the grant date.

 

As a participant in the Executive Long
Term Incentive Plan, you will also be eligible for annual stock equity grants which generally are a combination of Stock Options
and Restricted Shares.

 

In addition, you will be eligible to participate
in our Corporate Annual Incentive Bonus Program. You will have a target bonus of 40% of your annual salary, which will be payable
on an annual basis and subject to the successful achievement of corporate and personal goals and objectives. Bonus awards are subject
to recommendation by the Compensation Committee of the Board of Directors and approved by the entire Board of Directors.

 

You will also be eligible to participate
in the Executive Change of Control and Severance program.

 

You may begin work upon acceptance of this
offer and the successful completion of a reference check, background check and drug screen.

 

Please make note, employment is at the
mutual consent of the employee and STAAR and can be terminated "at will," with or without cause, by either you or STAAR
in its sole discretion at any time.

 

On your first day of employment you will
need to bring with you identification in order to complete all necessary paperwork, including your Employment Eligibility Verification
(Form I9).

 

	1911 Walker Avenue, Monrovia, CA 91016	t. 626.303.7902	www.staar.com

 

    	 

    	 

    

 

		
        Barry G. Caldwell

        President and CEO

 

While employed by STAAR Surgical, you
shall not disclose, use, disseminate, lecture upon, write about, or exploit in any way, directly or indirectly, confidential proprietary
information you gained during your employment with Abbott Medical Optics for STAAR Surgical's benefit.

 

Jim, we are very excited about the possibility
of you joining the STAAR Executive Team, helping us accomplish our mission and we hope you enjoy the many great opportunities STAAR
has to offer. We look forward to you joining our Team.

 

	Thank you,	Accepted by:

 

	/s/ Barry G. Caldwell	 	/s/ James E. Francese
	Barry G. Caldwell	 	James E. Francese
	President, Chief Executive Officer and	 	Vice President Global Marketing
	Director (principal executive officer)	 	 

 

	1911 Walker Avenue, Monrovia, CA 91016	t. 626.303.7902	www.staar.comAMENDMENT
NO. 2

TO

AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT

 

This Amendment
No. 2 (this “Amendment”) to Amended and Restated Executive Employment Agreement dated as of December 31, 2008
(the “Original Agreement”), and Amendment No. 1 to the Original Agreement dated as of November 27, 2008 (together
with the Original Agreement, the “Agreement”), is made as of the 7th day of December, 2012, by and between
STAAR Surgical Company, a Delaware corporation (“STAAR”), and Barry G. Caldwell (the “Executive”),
in reference to the following:

 

RECITALS

 

A. The Executive
and STAAR are parties to the Agreement, whereby STAAR agreed to retain the services of the Executive as its Chief Executive Officer,
and the Executive agreed to render such services.

 

B. The Agreement
provides severance benefits to the Executive under certain circumstances subject to a condition precedent that the Executive deliver
a general release of claims, both known and unknown, in the form required by STAAR.

 

C. Due to recent
guidance provided by the Internal Revenue Service regarding Section 409A of the Internal Revenue Code of 1986, as amended, and
to implement the provisions of Section 9.13 of the Original Agreement, the parties wish to modify the terms of the Agreement to
revise the timing of the effectiveness of such release, on the terms and conditions set forth below.

 

NOW, THEREFORE,
in consideration of the premises stated above, the mutual promises contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, STAAR and the Executive agree as follows:

 

AGREEMENT

 

1.           Section
9.1 of the Original Agreement, entitled, “Release of Claims” is hereby revised by inserting the following sentence
at the end of that section:

 

“Such
release of claims must become effective within sixty (60) days after the Executive's termination date, or else the Executive will
be deemed to have waived all rights to any payments or benefits pursuant to Article 5 of this Agreement (as amended from
time to time).”

 

2.           Except
as expressly modified by this Amendment, all terms, conditions and provisions of the Agreement shall continue in full force and
effect as set forth in the Agreement. Except as otherwise modified or defined herein, all capitalized terms in this Amendment
have the same meanings as set forth in the Agreement. In the event of a conflict between the terms and conditions of the Agreement
and the terms and conditions of this Amendment, the terms and conditions of this Amendment shall prevail. Each party represents
and warrants to the other party that this Amendment has been duly authorized, executed and delivered by it and constitutes a valid
and legally binding agreement with respect to the subject matter contained herein. Each party agrees that the Agreement, as amended
by this Amendment, constitutes the complete and exclusive statement of the agreement between the Parties, and supersedes all prior
proposals and understandings, oral and written, relating to the subject matter contained herein. This Amendment shall not be modified
or rescinded except in a writing signed by the Parties. This Amendment may be executed manually or by facsimile signature
in two or more counterparts, each of which shall be deemed an original, and all of which together shall constitute but one and
the same instrument.

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Amendment No. 2 to Amended and Restated Executive Employment Agreement, effective on the date first
written above.

 

Executive:

 

	/s/
    Barry G. Caldwell	 
	Barry
    G. Caldwell

    President, Chief Executive Officer and

    Director (principal executive officer)	 

 

STAAR SURGICAL COMPANY

 

	/s/
    Deborah Andrews	 
	Deborah Andrews

    Chief Financial Officer

    (principal financial officer)	 

 

    	2

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