SEC Contract Filing

Filing Date: 2015-03-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v403425_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EMPLOYMENT AGREEMENT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Employment Agreement (&ldquo;<U>Agreement</U>&rdquo;)
is entered into and effective as of March 1, 2015 (&ldquo;<U>Effective Date</U>&rdquo;), by and between STAAR Surgical Company,
a Delaware corporation on behalf of itself and any and all affiliated entities (together, the &ldquo;<U>Company</U>&rdquo;) and
Caren L. Mason (&ldquo;<U>Executive</U>&rdquo;).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>RECITALS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is a leading developer, manufacturer and marketer of implantable lenses for the eye and delivery systems related thereto
(the &ldquo;<U>Business</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company wishes to employ Executive to serve as its Chief Executive Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive
wishes to be employed by the Company and to serve in such capacity under the terms and conditions in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, the parties agree as follows:</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Position
and Duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the term of this Agreement, Executive will be employed by the Company to serve as Chief Executive Officer of the Company, reporting
to the Company&rsquo;s Board of Directors (&ldquo;<U>Board</U>&rdquo;). As Chief Executive Officer, Executive will, subject to
the supervision and direction of the Board, be responsible for: (i)&nbsp;implementing goals, operating plans, policies and objectives
for the Company; (ii)&nbsp;performing the duties and responsibilities customarily expected to be performed by a Chief Executive
Officer; and (iii)&nbsp;performing such other duties and functions as are reasonably required and/or as may be reasonably prescribed
by the Board from time-to-time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
location of Executive&rsquo;s employment will be the Company&rsquo;s headquarters offices, but Executive from time to time may
be required to travel to other geographic locations in connection with the performance of her duties.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standards
of Performance. <FONT STYLE="font-weight: normal">Executive will at all times faithfully, industriously and to the best of her
ability, experience and talents perform all of the duties required of and from her pursuant to the terms of this Agreement. Executive
will devote her full business energies and abilities and all of her business time to the performance of her duties hereunder and
will not, without the Company&rsquo;s prior written consent, render to others any service of any kind (whether or not for compensation)
that, in the Company&rsquo;s sole but reasonable judgment, would interfere with the full performance of her duties hereunder.
Notwithstanding the foregoing, Executive is permitted to spend reasonable amounts of time to manage her personal financial and
legal affairs and, with the Company&rsquo;s consent which will not be unreasonably withheld, to serve on civic, charitable, not-for-profit,
industry or corporate boards or advisory committees, provided that such activities, individually and collectively, do not materially
interfere with the performance of Executive&rsquo;s duties hereunder. In no event will Executive engage in any activities that
could reasonably create a conflict of interest or the appearance of a conflict of interest. Executive shall be subject to the
C