INDUSTRIAL LEASE

(Single Tenant; Net)

Between

THE IRVINE COMPANY

And

INTRALASE CORP.

INDEX TO INDUSTRIAL LEASE

(Single Tenant; Net)

i

ii

INDUSTRIAL LEASE

(Single Tenant; Net)

THIS LEASE is made as of the 7th day of September, 2000, by and between THE IRVINE COMPANY, a Delaware corporation, hereafter called Landlord, and INTRALASE CORP., a Delaware corporation, hereinafter called Tenant.

ARTICLE I. BASIC LEASE PROVISIONS

Each reference in this Lease to the Basic Lease Provisions shall mean and refer to the following collective terms, the application of which shall be governed by the provisions in the remaining Articles of this Lease.

Basic Rent is subject to adjustment as follows:

Commencing November 1,2002, the Basic Rent shall be Forty Five Thousand Five Hundred Forty-Two Dollars ($45,542.00) per month, based on $1.10 per rentable square foot.

Commencing November 1, 2003, the Basic Rent shall be Forty Seven Thousand Six Hundred Twelve Dollars ($47,612.00) per month, based on $1.15 per rentable square foot.

ARTICLE II. ARTICLE IL PREMISES

SECTION 2.1. LEASED PREMISES. Landlord leases to Tenant and Tenant leases from Landlord the premises shown in EXHIBIT A (the Premises), including the building identified in Item 1 of the Basic Lease Provisions (which together with the underlying real property, is called the Building), and containing approximately the floor area set forth in Item 8 of the Basic Lease Provisions. The Building is located on the site (the Site) shown on EXHIBIT A-1 attached hereto.

SECTION 2.2. ACCEPTANCE OF PREMISES. Tenant acknowledges that neither Landlord nor any representative of Landlord has made any representation or warranty with respect to the Premises or the Building or the suitability or fitness of either for any purpose, including without limitation any representations or warranties regarding zoning or other land use matters, and that neither Landlord nor any representative of Landlord has made any representations or warranties regarding (i) what other tenants or uses may be permitted or intended in the Building or on the Site, or (ii) any exclusivity of use by Tenant with respect to its permitted use of the Premises as set forth in Item 3 of the Basic Lease Provisions. Tenant further acknowledges that neither Landlord nor any representative of Landlord has agreed to undertake any alterations or additions or construct any improvements to the Premises except as expressly provided in this Lease. Landlord shall complete the Tenant Improvements (defined in the Work Letter attached as EXHIBIT X hereto) prior to the Commencement Date. The taking of possession or use of the Premises by Tenant for its business operations shall conclusively establish that the Premises and the Building were in satisfactory condition and in conformity with the provisions of this Lease in all respects, except for those matters which Tenant shall have brought to Landlords attention on a written punch list. The list shall be limited to any items required to be accomplished by Landlord under the Work Letter attached as Exhibit X, and shall be delivered to Landlord within thirty (30) days after the term (Term) of this Lease commences as provided in Article Ill below. If no items are required of Landlord under the Work Letter, by taking possession of the Premises Tenant accepts the improvements in their existing condition, and waives any right or claim against Landlord arising out of the condition of the Premises. Nothing contained in this Section shall affect the commencement of the Term or the obligation of Tenant to pay rent. Landlord shall diligently complete all punch list items of which it is notified as provided above.

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