Exhibit 10.75
AMENDMENT
AGREEMENT
THIS AMENDMENT AGREEMENT (this
“Amendment”), dated as of the 24th day of June, 2009,
is made by and between Broadwood Partners, L.P.
(“Broadwood” or the “Investor”) and STAAR
Surgical Company (“STAAR” or the
“Company”). Unless otherwise defined
herein, capitalized terms used in this Amendment shall have the
meaning ascribed to such term in the Senior Secured Note and the
Temporary Waiver (as such terms are defined below).
WITNESSETH:
WHEREAS, the Investor currently owns a
$5,000,000 senior secured note issued to the Investor on December
14, 2007 by the Company, as amended on April 13, 2009 (the
“Senior Secured Note”);
WHEREAS, The Investor and the Company entered
into a Temporary Waiver Agreement dated as of April 2, 2009 (the
“Temporary Waiver”) related to certain events affecting
the Senior Secured Note;
WHEREAS, the parties now desire to amend and
replace certain existing terms contained in the Temporary
Waiver;
NOW, THEREFORE, for and in consideration of the
premises and the mutual covenants and agreements herein contained,
the Investor and the Company do hereby agree as follows:
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Section 5 of
the Temporary Waiver shall be deleted in its entirety and replaced
with the following:
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“If,
prior to the expiration of the Stay Period, the Company secures a
stayof execution of Judgment until the completion of an appeal
pursuant toCCCP Section 917.1 by posting an appeal bond, or by
other action of theCalifornia courts, then any Judgment Default
shall be cured. However, if any Judgment Default shall
have been cured under the previous sentence, the Investor shall
nonetheless have the right to receive interest at a rate of 20% per
annum.”
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Section 6 of
the Temporary Waiver shall be deleted in its entirety and replaced
with the following:
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“If any
Judgment Default is cured pursuan
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